European Stars and Stripes (Newspaper) - November 29, 1991, Darmstadt, Hesse                                Friday november 29, 1991 the stars and stripes b Page 17nionemattet today s tip assets of the nations 580 Money Market Mutual funds Rose $1.14 billion to a record of $481.95 billion in the latest week the investment company Institute said. The Rise during the week that ended tuesday broke the record set the previous week when fund assets surged by $11.63 billion to s480.80 billion. The seven Day average yield on Money Market Mutual funds Felt in the week ending tuesday to 4,70 percent from 4.78 percent the previous week said Donoghue a Money fund report a Trade journal based in Holliston mass. The newsletter Bank rate Monitor said its Survey of financial institutions in the nation s 10 largest markets showed the effective annual yield available on Money Market accounts fell to 4.70 percent As of wednesday from 4.74 percent a week earlier. Conversion rates London up a thursdays Rales for the . Dollar to other currencies figures Are expressed in dollars to the British Pound other local currencies in dollars Gold was quoted at $365.25 an ounce Silver at $4.10. Nov 27 nov 28 British pound.1.7680 1 7685 German mark.1.6155 1.6170 French franc .5.5030 5.5140 dutch Guilder. 1.8105 1.8208 belgian iranc.33.19 33.28 Kalian lira.1,214.85 1,217.25 Swiss franc.1.4225 1 4275 greek drachma.182.50 183.51 turkish lira.4,988.80 5,016 30 saudi arabian riyal.3.7496 3 7495 Spanish peseta.102.25 102.71 portuguese escudo.142.49 143.50 Canadian dollar.1.1343 1.1343 austrian schilling.11.2725 11.3375 norwegian Krone.6 3040 6.3430 danish Krone. 6.2275 6.2625 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 1.57 through Friday based on thursdays noontime Price fixing. New York Exchange new York Dpi York Stock Exchange Slock Rwjr Nabisco hid Philip Morns Bristol Myersq ban Kamenca Quot limited inc ism corp Glaxo holdings Rwjr Nabisco of Citicorp Texas utilities adv Micro docs Amer express at amp to company Fedl fifty invest Tele Lonos de my a the 15 most Active stocks in new composite trading on wednesday. Stitt Ltd nil chg. 10,124,400 9% up % 2.213,300 68% off 1 % 2,187,400 77% up t % 1,824,300 31 % Oft % 1,804,400 24% 0t1% 1,803,900 94% o�3% 1.751,500 27% unch 1.636,700 36 up 1 % 1,604,500 10% unch 1,269,900 41 % up % 1,241,100 14% up % 1,109,700 19 off % 1,106,800 36% off % 1,106.100 17% off % 1,105.800 42% off % american Exchange new York up american Stock exc Slock Bergen Brunswig am medical bldg fruit of loom Echo Bay mines Hasbro inc Nabors Industry new York times foundation hath Hii Haven corp Bowne amp co a the 10 most Active stocks in Inge composite trading wednesday. Sales 1,319,300 452,500 401.600 346.700 338.000 278,800 178.900 177.000 176.900 159,200 us 17% 7 i 23 % 7 % 35% 6 i 19% 27% 2% 11 % net chg. Off 2% up % up % unch Oft % unch up % up % up % off % Dow Jones new York up a Yew Day. A i a Quot Lus nals is i sport a limes suxs1q61 09 Dow Jones closing Range of averages a Kant  High ?9?9tl 1190.77 21952 1043.13 Low 2803 72 1167.60 21564 1050.66 Clou 2900.04 1174 14 -12 33 219 08 2 51 4.52 consumer spending drop May chill Holiday season by the new York times the Commerce department said wednesday that spending by american Consumers which accounts for two thirds of the nation s economic activity fell a Sharp 0.3 percent in october. It was the biggest decline since april when spending fell 0.5 percent. Coming after two Bleak assessments of consumer Confidence released monday the decline suggested a mood of extreme caution among shoppers at the Start of the crucial Holiday season. If that caution persists through november and december several economists said it could tip the Economy Back into decline in the fourth Quarter. Growth of 2.4 percent in the third Quarter was widely interpreted As a sign that the recession was ending. Moreover said David Wyss the research director for Dri Mcgraw Hill an economic consulting firm Quot a weak Christmas will mean it would be hard to get much action in the first Quarter of 1992, because retailers will be overstocked and orders  other reports released wednesday by the Commerce department suggested that Consumers were not buying because their income was not increasing and that much of what they were purchasing was coming from abroad. Personal income grew a Meaghi 0.2 percent in october the worst showing since july. And the country s Trade deficit Rose 33 percent in the july september Quarter to $20.49 billion the highest level this year. A buying imports May be wonderful for chinese manufacturers but its More bad news for . Manufacturers Quot said Walter k. Jolson the chief economist for the general electric co. However not All of the news was bad saudi Oil minister Hisham Mohiddin Nazer arrives for the two Day open meeting. Open warns of turmoil in world s Oil markets by the new York times Vienna Austria a the organization of Petroleum exporting countries ending a two Day meeting decided wednesday to keep its Oil production at the current level. But its Secretary general issued a Strong warning that next year would be filled with unpredictable developments for the world s Oil Market. Secretary general Subroto said that among other uncertainties open did not know when Iraq once a leading Oil producer would be Able to Export again. Other open officials warned that if Iraq resumed Large scale exports which have been prohibited by the United nations the volume of Oil it sold might Well Force the group to revise its production Levels. Before the . Embargo was imposed Iraq exported 3 million barrels a Day Subroto formerly indonesians Oil minister also said that another big question was whether the soviet Union s Oil production which he estimated at fewer than 9 million barrels a Day might fall further next year creating a need Tor More open Oil on world markets. Open officials also noted that the demand for their Oil would depend on the degree to which the United states and several other countries recover from recession. Open said it would meet feb. 12 in Geneva to consider the problems and a decide on a production ceiling Quot for the second Quarter of 1992. For now the open ceiling will remain where it has been in the last few months at about 24 million barrels a Day. Open reiterated its desire to bring prices closer to its so called a minimum reference Price Quot of $21 barrel but the group refrained from specifying what measures it would adopt to lift prices to that level. The average Price of open produced Oil is a Little less than $19 a barrel. A the labor department reported that the number of americans filing new claims for unemployment benefits fell he 80,000 in mid november the biggest one week improvement in almost a decade. There were 413.000 people filing firs time claims during the week that ended on nov. 16. Down from 493,000 in the previous week. But because of the veterans Day Holiday there was less time to file claims in the mid november week. A orders to . Factories for durable goods Rose by 3 percent in october after two consecutive declines reaching the seasonally adjusted total of $123.79 billion. The upturn followed a 4.2 percent drop in september and a 4.1 percent fall in August. But Many economists discounted the slight Rise since it stemmed principally from a 53 percent surge in orders for military equipment. Chinese goods facing higher . Tariffs Washington a the government announced wednesday that it is striking Back at China for failing to protect . Patents and copyrights by raising tariffs on $1.5 billion Worth of chinese exports to this country. . Trade representative Carla a. Hills said he higher tariffs on chinese goods ranging from Beer to wristwatches will go into effect in 30 Days unless China changes its policies. The interval gives chinese officials time for More talks and the americans time to comment on the Export list. The additional duties on the chinese products which also include textiles pharmaceuticals jewelry and hardware could amount to $300 to $400 million according to some estimates. The list includes a highly popular item a athletic shoes chinese imports to the United states now exceed total american product Ion of such shoes and the extra duty would make the chinese items More expensive and less competitive. . Officials complain that China makes use of patented american chemicals and copyrighted computer programs without paying. They Hope that by cutting exports they will persuade the chinese government to protect this Amer ican Quot intellectual  american imports from China reached a record $7.5 billion in the first half of this year a Over $1 billion More than in the same period of 1990. . Sales to China have also risen but were still under $3 billion Between january and june. The House of representatives voted 409 to 21 tuesday to set conditions on China a right to lower tariffs under most favored nation status. The Senate is not expected to Lake up the Bill until next year. If the Bill becomes Law president Bush would have to certify that the chinese government had accounted for All its citizens arrested after the 1989 demonstrations in Tiana men Square and released at least some of them before renewing the favourable Trade status. He would also have to cd Reily that China had made significant Progress in protecting human rights As Well As . Copyrights