European Stars and Stripes (Newspaper) - November 23, 1991, Darmstadt, Hesse                                Page 18 b the stars and stripes saturday november 23, 1991 Money matters the chinese government plans to end its practice of barring foreigners from buying shares in chinese companies by the end of the month the state news Agency said. The ban grew put of fears foreign investors might gain too much economic clout. The Shanghai securities Exchange will sell its first shares of Stock available to foreign investors by the end of november. During the past 10 years China has allowed foreigners to set up their own businesses or invest in joint venture companies with chinese partners. But it has barred them from buying shares in chinese companies out of concern that outside investors would become too powerful. The state run Xinhua news Agency said the Shanghai securities exchanges special Stock Issue was approved Friday by the Peoples Bank of China and the Shanghai municipal government. Conversion rates London up fridays 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 $368.50 an ounce Silver at $4.15 a a nov. 21 nov 22 British pound.1.7975 1.7980 German mark.1.6005 1.5880 French iranc.5.4850 5 4275 dutch guilder.1.8084 1 b084 belgian iranc.32 93 32 68 italian lira.1,213.40 1,200.65 Swiss franc.1.4200 14115 greek drachma.182.39 181 64 turkish lira.4,949.10 4,947 50 saudi arabian riyal.3.7498 3 7498 Spanish peseta.101.67 10166 portuguese escudo.140 01 14015 Canadian Dollar .1.1326 1 1360 austrian schilling.11.2950 1 i 234 norwegian krone.6.3080 6 2830 danish krone.6.3080 6.2040 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 1.55 through monday based on fridays noontime Price fixing. New York Exchange new York up the 15 most Active York Stock Exchange composite trading on Stock global yield cd Glaxo holdings Arkla inc general motors Ford motor co Philip Morns at amp to company Bristol Myersq limited inc ban America Rwjr Nabisco hid coastal clip ism clip genl electric Nall med enter sales 4.355.500 3.917.700 3.501.300 3.265.300 2,495,200 1.898.400 1.869.900 1.748.900 1.709.600 1.637.900 1.550.600 1.548.500 1.527,000 1.419.700 1,402,800 last 7% 28mi 14 31 Vuk 25 6bm1 37 81 be 26v� 35 9 a 27w 95 Vav 66 a 13 a stocks in new thursday Nat chg. Off Viup /4 off t up h up is up a up up Vuk up 1 a off i unch off 2tk off is off it off /4 american Exchange new York a Topi a the 10 most Active stocks in american Stock Exchange composite trading thursday Stock Rhone pout evil Energy service Echo Bay mines us Bio science Amdahl clip Bat industries foundation hath Organogenesis Forest labs inc fruit of loom Salat 1,376,200 1.314,800 1,280,000 1,110,500 565,600 516.800 433.900 332.900 317.400 300.900 Lail 2 is 14 8v4 62v, 12�?Tk 11 32814 19 is 39 24 16 not chg. Olf -4 unch up a up 6 Oft in of 1-16 up 2 4 up v up 3 up v4 Dow Jones new York up a Dow Jones closing Range of averages thursday 30 industrials 20 transport 15 utilities 65 stocks a Lek 2953 94 1222 35 215 76 1071 25 Law 2902 28 1196 00 212 26 1051 49 close 2932 69 121469 214 63 1064.14 Cha up 2 5a up 11 96 up 0 b1 up 4 11 investors at auction snap  amp a property seized in bailout Cathedral City Calif. A it took a Federal Agency about 90 minutes to auction off foreclosed commercial property in six states that was seized from failed savings and Loans. More than 800 bidders some from countries As far away As Switzerland Britain and Japan attended thursdays distress Sale one of the biggest Ever. The Resolution Trust corporation netted $106 million from the Sale of real estate in California Arizona Texas Missouri Ohio and Florida. The amount was half what the thrifts had estimated their real estate was Worth. But the Resolution Trust corporation which was established in 1989 to manage and recover taxpayers Money from failed a amp is insured by the Federal government said the total was 28 percent higher than the lowest acceptable bids. A a it a a Good Day for the taxpayers and the investors a said Rick Wolf it cd a real estate sales coordinator for the Western Region. A i think everybody is pleasantly  the auction site itself the Doubletree resort and desert Princess country club in Cathedral City hauled in $18.1 million twice the minimum bid but less than the estimated value of $34.9 million. The Doubletree hotel was confiscated from defunct Gibraltar savings in Simi Valley Calif. The Etc Quot sold Amer first Bank a Headquarters in suburban Kendall Fla. A five two Story office buildings surrounded by a Large Lake and valued at $50 million a for $12.8 million to an unidentified purchaser. Another Amer first property a $13 million shopping Center in Jupiter Fla., went for $9.5 million. Amer first the nations oldest federally chartered savings and loan was seized last March after it failed to find a buyer for its 54-Branch system. All told the Sale of 13 of 14 seized commercial pieces netted considerably less than the Book value of $210 million. However failed a amp is often inflated the value of their holdings the Etc said. From left Eddie Antar Malcolm Cheek William Alley jr., Victor in Cendy and Joseph Mollicone or. Dropped out of sight. Cosmetics exec joins growing list of corporate Heads who abscond by Stefan Fatsis the associated press new York a when the chairman of a Florida cosmetics company vanished this week amid allegations of phony stores and crooked books he joined a growing roster of missing businessmen. In the last two years at least five company leaders have disappeared a sometimes because of criminal wrongdoing sometimes because of bad business and sometimes for no apparent reason. Law enforcement experts said thursday that such prominent cases Are rare. Familiar in their communities and with Broad contacts business executives typically vanish in a desperate bid to avoid failure or in a calculated scheme. A these Are not your run of the Mill scum artists a said Stephen b. Higgins the . Attorney in St. Louis who is pursuing the Case of Malcolm Cheek president of a failing engineering firm who disappeared in March. A these Are people who until they defrauded their lenders or defrauded their investors were regarded As respected successful business people a he said. Quot Malcolm certainly is an example of  private investigators said that scores of White Collar disappearances go unreported because companies fear bad publicity if they admit searching for an executive who has fled with assets. Known to private eyes As a a skip Trace a More and More such cases today involve Traud in the insurance real estate savings and loan and banking industries a direct fallout of the get Rich 1980s, investigators said. A with the recession we re having we have a few executives leaving the air plane with the Golden Parachute Quot said Vincent Parco a new York private detective. For example a Victor in Cendy chairman of Cascade International inc., of Boca Raton Fla., was last seen sunday. Investigators believe Cascade which makes and Sells women a cosmetics and clothing lied for years about its products profits and other particulars such As the number of stores. In Cendy fled As pressure from investors and regulators about his company grew. The Fri is investigating the Case. A in the Case of Malcolm Cheek police found unpacked clothes in the new York hotel room of the former president of a amp a group. He also left behind allegations of Bank fraud a collapsing company mysterious withdrawals and inflated assets. Cheeky a wife said she believes he is dead. Investigators believe otherwise. A Joseph Mollicone or. Has been missing since nov. 8, 1990, when his son drove him to a Boston Airport. He is accused in Rhode Island of embezzling $13.8 million from his heritage loan and investment co., of having mob connections and of triggering a Deposit insurance crisis in the state. A Wiliam Alley jr., of Dallas vanished in March while attending a toy and sports collectibles show in new York. His Hart land plastics co., a maker of of parts statuettes had financial problems but there is no hint of fraud. His wife gave Hirth to their fifth child last month. A the Long and Short of it is no one has a clue said Ken Movold the company s sales manager. A Eddie Antar founder of the new York area retail electronics firm crazy Eddie has been missing since february 1990. He is rumoured to be in Israel and has been accused of inflating the Compa nyx a Stock and generating $73 million ii illegal Stock trading profits. Other cases Are More bizarre. Manhat Tan attorney Steven Romer is current on trial for his alleged theft of More thai $7 million from clients. He vanished Las dec. 31 and showed up at prosecutors offices 55 Days later claiming he was kid napped. A some people can to live up to the stress of a failing business and they go away for a time and Hope with sym Paul the thing will go away a a or apathy a Rby a a go away Bel former Fri agent Tom Tolan preside of a new York detective Agency. Others never return like Robe Vesco wanted since 1973 on charges. Looting an investment firm of $224 i non or Marc Rich a commodities Trad it now reportedly living in Switzerland. According to latest count by the u isnm1 service Here arc near  Federal state and local fugitive fsr a Onfre s4.m?. To me Crim it nals. Almo Ion face Federal arrest warrants. The face of Only one White Collar Crin Tea graces the feds 15 most wante list. Lorn Billman accused of bilking depositors Ini his Maryland savings and Loa inv 00 Mil Ion he vanished investigators said most executives we flee eventually Are found and missing a us traced. Most just Arentt prepared it a life on the run. F most part we re not Takir about the intelligence agent changing h ��?~"�?~�?�7 Nus to Crimi Quot Al his own Island somewhere a said Bria fms Mil a add of Wesl coast a Pera for l n associates inc., a prominent ii to National investigator. ,nmihlcsc4 8yys�?T�?� he said a usually Leav some kind of a Trail or they