European Stars and Stripes (Newspaper) - December 14, 1991, Darmstadt, Hesse                                Saturday december 14, 1991 the stars and stripes b Page 17money matters today a tip Moody a investors service put the debt ratings of International business machines corp. Under review thursday saying it was considering a possible downgrade. The big credit rating service said its action was motivated by concerns about the predictability and reliability of in my a earnings. Ism in a statement released from its Armonk . Headquarters said it was a a disappointed by Moody a action. Separately Standard amp poor a corp., the other major . Corporate credit rating service said thursday that it was affirming its triple a ratings on in my a senior and subordinated debt. But a amp a said its rating Outlook on ism remains  that Outlook had been revised downward from a a stable on aug. 16th, reflecting a amp pcs concerns about both the Overall weakness of the computer Industry and in my a own decline in profitability. 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 s359 25 an ounce Silver at s3 87 dec. 12 dec 13 British Pound .1 8090 1.8200 German Mark .1 5745 1.5830 French franc .5 3788 5.4240 dutch Guilder .1 7735 1.7820 belgian franc .32.55 32 59 italian lira .1.189 35 1,196 90 Swiss Iran .1 3982 1.3975 greek drachma. 180.60 18153 turkish lira.5,042.90 5,060 00 saudi arabian Riyal 3 7495 3.7495 Spanish peseta. 100.65 100 95 portuguese escudo.139.96 140 by Canadian Dollar. 1 1422 1 1408 austrian Schilling 11 0780 111425 norwegian Krone. 6.20 6.2240 danish Krone .6125 6.1530 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 1.54 through monday based on fridays noontime Price fixing. New York Exchange new v0rkiupi York Stock Exchange Slack Tel Fonos de my ism corp Arkla inc Philip Morris general motors Eastman Kodak Compaq computer Triton Energy Glaxo holdings Westinghouse Elrar Nabisco he at amp to company ban America Pepsico inc Citicorp a the 15 most Active stocks in new composite trading on thursday. Sates 2,573,600 2.093.100 2.002.300 1.972.700 1.944.700 1.942.700 1,a08.800 1.799.400 1,770.000 1.761.400 1.721.700 1.690.100 1.623.300 1.620.800 1,574,200 41 88 11 69 26 45 27 38 29 15 10 37 33 31 10 net chg. Up 1 up off 1 up up Oil 1 up 1 up 4 up up up up up 2 up up american Exchange new York up american Stock tact ii the 10 most Active stocks in me composite trading thursday Start Salt last be Loti. Rhone Poul cart 1.252,700 i unch Edisto resource 687 000 1 Nefi Boia pharm co 634.700 a up Echo Bay mines Central cd cd 481.100 7 of 345.700 3 01 3-16 pol phase corp 318.200 3 up Riuo Thoc hem 299.200 3 up 1 Turos de aces 248.600 7 up Hasbro inc 240.200 36 up pah corp 185.600 34 up Dow Jones new York up Dow Jones dosing Range of avenges thursday 30 industrials 20 transport 15 la Hatjes 65 stocks 1204 41 220.71 1061.74 2661.14 1161 43 21714 1038.05 2695 13 1199 74 21920 1056.06 casings 12975 i39 24 Oft 0 07 15.79 troubled Twa Continental exploring Prospect of merger new York a trans world airlines and Continental airlines troubled carriers that have held unsuccessful merger talks with rivals said thursday they Are now talking to each other. Analysts said the two could make a Good fit blending Continental s extensive Domestic route system with twas collection of trans Atlantic routes. But with Continental in bankruptcy and Twa preparing to file for chapter 11 Protection Early next year such a Deal would face several obstacles at a time when the airlines Are struggling through a slow season that has just witnessed the deaths of two carriers. The merger talks were initiated by Twa chairman Carl c. Icahn said Continental president Robert r. Ferguson Iii who characterized the discussions As a preliminary  Twa said Ferguson and Icahn met on wednesday at twas Headquarters in suburban mount Kisco . The two sides now plan to Exchange information on their businesses. I in a statement Icahn said a merger with Continental would require outside Money some of which he might put up through his own sources. Twa would not discuss any Dollar amounts or say specifically where the Money might come from however. Continental said Twa has not yet made an offer. A there Are no specifics. Its just some very exploratory talks a said spokesman Art Kent. Airline Industry  also were viewing the talks cautiously. A if you look at the Rouie systems it would be an interesting merger a said a clan Becker of investment firm Shear son Lehman Brothers inc. Quot i think right now it s talk and its too Early to comment on whether it would amount to anything. There a so Many obstacles that its difficult to  a i done to know if it makes any sense Quot said Dan i Leash. At Kemper securities group in Denver. A both companies Are in difficult financial Straits but on the other hand they re looking for a Way to compete with the Mega carriers american United and  probes suspect illegal Stock buys by Maxwell to keep Empire afloat London apr the official investigation of publisher Robert maxwells furtive finances widened thursday to include possibly illegal Stock purchases aimed at supporting his withering Empire made months earlier than was thought. One Maxwell company neared closure. The european a weekly newspaper Laid off its 150 employees. Editors said it won t publish again unless a buyer is found quickly. Police were called thursday evening to evict about 70 of the paper s employees who demanded jobs from Ernest burning ton new chairman of maxwells Mirror group newspapers pc. They argued that their contracts were with Mirror group not with the european. Court appointed administrators took charge of the newspaper and other private Maxwell properties last week. The High court in London on thursday appointed Peter Phillips of Buchler Phillips and co. Accountants As receiver of maxwells personal estate. The accountants said in a statement that Phillips wanted anyone who knew if Maxwell made a will to Contact him. The administrators said thursday As much As $275 million in Maxwell company funds were used to cover obligations of a various overseas entities which bought Maxwell communication corp. Pc shares in april and july. The overseas entities were not identified but a source close to the administrators said they were not Maxwell companies. The Mirror group said $633 million of its pension fund assets were transferred to private Maxwell interests. The daily about 70 Laid off workers from the european newspaper appeared at the Mirror group offices in London on thursday to demand new jobs. Police later evicted them. Mirror reported dec. 5 that $952 million was taken from their pension funds. The serious fraud office a government prosecution Agency began investigating the group s pension funds and related matters dec. 4. Investigators said Kevin Maxwell has been linked to transactions of a pension fund management company at the Center of controversy surrounding the missing millions. They said questionable transactions might have occurred after Maxwell died. Investigators hired by maxwells Banks said earlier that the publisher s frantic manipulations appeared to have begun in july but it is now believed it started at least three months earlier. Maxwell allegedly siphoned More than $1.2 billion from various companies to support share prices As Well As service debts cover operating losses and Gamble in the foreign Exchange Market in a desperate Effort to keep his Empire afloat. Merchants to link up with plus network High Wycombe England a amps a beginning sunday the Green machine Cash machines in Europe will accept Teller machine cards from the plus financial network said an official at merchants National Bank and Trust  United kingdom Headquarters. Merchants Green machines already accept cards from the Cirrus and armed forces financial network. But the link up with the plus network will differ from the other two in that it is a one Way a said Frank Popovich a marketing coordinator. Merchants card holders can use their automated Teller machine cards at stateside Cirrus and Afan machines. But customers with merchants cards will not be Able to Access their merchants accounts on plus machines while in the United states. However Many plus machines Are connected to Cirrus which would allow merchants card holders Access to their accounts through that network. A a it a going to Benefit some of our account holders but it will probably Benefit More of our non account holders such As stateside relatives and friends visiting in Europe Popovich said. The Cirrus and plus systems Are americans two largest networks of automated Teller machines. Merchants National corp. In Indianapolis had announced in August 1990 that it would incorporate the Cirrus and plus systems into its network. Merchants Green machines have been linked with Cirrus since oct. I. 1990 merchants operates military banking facilities in Germany Greece Iceland the Netherlands and the United kingdom. It docs not have Green machines in Greece or Iceland