European Stars and Stripes (Newspaper) - November 21, 1991, Darmstadt, Hesse                                Page 18 c the stars and stripes thursday november 21, 1991money matters. Today s tip the number of on the Job injuries and illnesses in America surged last year to 6.8 million the highest level on record the government reported. The Job related injuries and illnesses reported by . Employers marked an increase of about 200,000 from the previous year according to a study released tuesday by the Bureau of labor statistics. It was the highest number of work related injuries and illnesses since the labor department began tracking such figures in 1972, about the time the occupational safety and health administration Laws took effect. 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 $362.55 an ounce Silver at $4.07. Nov. 19 nov. 20 British pound.1.7975 1.7955 German mark.1.5985 a French franc.5.4830 5.4745 dutch guilder.1.8115 1.8055 belgian franc.32.97 33.05 italian lira.1,214.00 1,210.95 Swiss iranc.1.4165 1.4230 greek drachma.182.60 a turkish lira.4,939.90 saudi arabian riyal.3.7498 a Spanish peseta.101.50 a portuguese escudo.140.54 a Canadian dollar.1.1293 a austrian schilling.11.33 a norwegian krone.6.3128 a danish krone.6.2435 a 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 1.56 through thursday based on tuesdays noontime e Rice fixing. German Money mar ets were closed wednesday for a National Holiday. Dow Jones new York up tuesday 30 industrials 20 transport 15 Trail ties 65 stocks Dow Jones dosing Range of averages nigh 2960.20 12176b 21639 1071.85 Low 2883.72 1182.36 211 50 1043.73 change a 41.15 off 24 48 off 3.51 close 2931.57 Oil 1200.11 213.63 1059.57 of 17.13 pollution Tab will be billions Oil study says by the los Angeles times Houston the total Cost for complying with proposed clean air and other environmental regulations will be Between $15 billion and $23 billion a year by the decades end an Oil Industry Trade group s study said. That works out to As much As 15 cents to 20 cents More per gallon that Consumers May have to pay for gasoline Oil Industry executives estimated though others questioned the magnitude of per gallon increases. If the costs Are spread evenly Over the estimated 250 billion Gallons of refined products a not just gasoline a produced by the Industry every year per gallon increases would actually be less than 10 cents. The study released by the american Petroleum Institute at its annual meeting in Houston on tuesday reflects the Industry a increasing resistance to strict environmental regulation that does not take costs into account. Dow Jones yearlong rally at an end experts predict from wire reports new York a with no signs of improvement in the Economy the Stock Market appears to be abandoning its yearlong belief that better times Are just around the Corner. Market analysts say they believe the decline in recent Days represents the end of a 13-month rally that saw the Dow Jones Industrial average gain 30 percent and reach a record High of 3,077.15 in late october. With the year nearing an end Many fund managers for institutions with big Stock portfolios Are Selling stocks to prevent losing much of their substantial gains for the year traders said. A when you get into a situation such As we be gotten into the first inclination is that i want to get paid at the end of the year a said Lon Gorman of first Boston corp. Such Selling contributed to a 41.15-Point drop tuesday in the Dow to 2,931.57. The sell Tiff erased a modest rebound monday from the Downs 120-Point drop last Friday. Fridays plunge the fifth biggest Ever and the worst in two years was attributed to a combination of factors including persistent bad economic reports and a congressional proposal a since shelved a to Cap credit card interest rates. President Bush conceded tuesday that some americans Are a hurting a but he stuck to his position that the Economy is being supported by a some fundamentals such As Low interest rates. The prospects for the Market Are grim experts said. Stefan Abrams managing director and chief investment strategist at Kidder Peabody amp co., noted that the sell off on Friday was misleadingly attributed to Only immediate causes such As the ill fated Effort to limit credit card rates a decline in biotechnology stocks computerized trading strategies and other factors. Advice for the president president Bush who is mulling Over plans to revive the nations Economy has received a Little free advice from some of the country s business leaders. And economists. Here s what they have to say. A Quot we be got to learn How to increase our productivity which is going to require investment in human capital education research and development new plants and  a John h. Wilson chief economist ban America corp., san Francisco a Quot people Are afraid to consume. A tax Cut for people earning less than $50,000 a year could be paid Back with a higher rate after the unemployment rate  a Robert a. Perkins vice president of Washington affairs Chrysler corp. A Quot the most immediate thing is for a major tax Cut. The second would be on the regulatory front. Just look at the Federal Register and the pages Are zooming up again in terms of new  a Malcolm s. Forbes jr., editor in chief Forbes Magazine a that masked the deep seated panic that has now enveloped investors a Abrams said. A the Stock Market has finally come to realize that the Federal Reserve and the White House and Congress Are unable to jump Start this  that troubled feeling about the Economy was echoed by ban America  chief economist. John h. Wilson also senior vice president at the san Francisco based Bank said the . Economy will not emerge from the current recession until the Middle of next year As a result of heavy debt and changes in Basic industries. Wilson in a forecast issued tuesday in a amps Sharon Kilday Tarrant the Bank a economic amp business Outlook said the Economy is going through a a Long and arduously slow recovery that began in the second Quarter and will continue through the first Quarter of next year. During that four Quarter period the rate of annual economic growth will amount to 1.6 percent the forecast said followed by growth rates of about 2.4 percent until the Middle of the decade. Wilson also said two factors Are slowing Down the Economy the High Levels of debt incurred by businesses the government and individuals during the 1980s, and the Lack of a recovery in the service employment sector. Congress working on Bill to replenish Odic funds Washington a Congress is trying to Salvage legislation pumping billions of dollars into protecting Bank and savings institution depositors now that president Bush a banking overhaul proposals Are All but dead. A a it a Clear. That this legislation will not become Law a sen. Phil Gramm a Texas said tuesday shortly before senators finished a with Little Progress a a fourth Day of debate. The Senate Bill would replenish the Federal Deposit insurance corp. And sweep away 64-year-old Legal barriers to full interstate banking. But with More than 40 amendments pending against the Bill Many senators said they doubted Congress was capable of doing anything More than shoring up the Odic with $70 billion in new taxpayer backed borrowing authority and enacting some non controversial changes in banking regulations. Meanwhile for the third time the House banking committee on tuesday approved 44-7, legislation rescuing the Odic. But this time it dropped All of Bush a proposals for revamping the financial system. In the process committee chairman rep. Henry b. Gonzalez a Texas ruled out of order an Effort by rep. Frank an Nunzio d-ill., to attach a Senate approved Cap on credit card rates. The chairman of the House banking consumer affairs subcommittee rep. Esteban e. Torres d-calif., said he still hoped to consider credit card legislation this week. He and other lawmakers Are working on Compromise proposals that would defer or avoid a Cap. In votes tuesday the committee attached conditions to the bailout. It decided to require the president and congressional leaders to come up with spending cuts to pay for $60 billion of the bailout. The Bill s new version would a require regulators in most cases to seize weak Banks before they fail. A forbid most so called too big to fail bailouts that protect deposits Over the $100,000-per-account insurance limit. A give regulators new authority to Monitor and control the operations of foreign owned Banks. A require regulators to examine each Bank every year and Force larger Banks to obtain annual Independent audits. Mcdonnell cuts tentative Deal Taipei Taiwan up a Mcdonnell Douglas corp. And Taiwan aerospace corp. Signed a memorandum of understanding wednesday allowing the Taiwan firm to Purchase 40 percent of the ailing . Air plane makers commercial division for $2 billion. If concluded the arrangement would set up a new joint venture company to produce parts in Taiwan for Mcdonnell Douglass planned md-12, a Long haul commercial jetliner due to be in production by the mid-1990s. The partnership would make Taiwan a major player in the aerospace Industry virtually overnight and could bring the Island up to $5 billion a year in Export revenues by the Middle of the decade government officials said. St. Louis based Mcdonnell Douglas would retain a majority interest and management control of the new company which would include local business conglomerates and the taiwanese government As equity partners