European Stars and Stripes (Newspaper) - December 17, 1991, Darmstadt, Hesse                                Tuesday. December 17, 1991 the stars and stripes b Page 17 moneys matter today s tip the Price of air travel is _ up As airlines raise Leisure fares but the Industry said it will Start reminding passengers that tax collectors also Are taking a healthy bite out of each ticket. American United Delta Northwest and us air said they would match a $20 fare increase initiated last week by Continental. The higher round trip fares will apply to Advance Purchase non refundable tickets popular with non business travellers. Conversion rates London up mondays 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 $35955 an ounce Silver at $3 87. British Pound. German Mark. French franc. Dutch Guilder belgian franc. Italian lira. Swiss franc greek drachma. Turkish lira. Saudi arabian Nyal. Spanish peseta. Portuguese escudo Canadian Dollar. Austrian Schilling. Norwegian Krone. Danish Krone. Dec. 13 dec. 16 1 8200 1 8225 1.5830 1.5760 .5.4240 5.4040 1 7820 1.7802. 32 59 32.51 1,19690 1,193.7 1 3975 1.3955 181 53 101.26 5,060 00 5,073.80 3 7495 3.7498 .100.95 10088 140 81 140.52 11408 1.1413 .11.1425 11 1335 6 2240 6.21 61530 61450 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 tuesday based on mondays noontime  s valuables seized by agents Paradise Valley Ariz. Api a Federal agents took Stock of the Art furs jewelry furniture and other valuables in Charles Keating  Home As part of a court order freezing his assets. Fri agents and Deputy . Marshals went to the Keating family compound saturday and inventoried the property owned by Keating and Nis wife Mary Elaine Keating. A . District judge in California froze the assets on Friday saying it was necessary a because it appears Keating is attempting to Transfer property subject to forfeiture if he is found guilty of charges stemming from the 1989 collapse of his financial Empire. A 77-count indictment returned thursday by a Federal grand jury in los Angeles charged Keating with masterminding a racketeering scheme to plunder Lincoln savings and loan association through conspiracy and  wins of to Fly Detroit London route new York a Delta air lines has beaten Northwest airlines at least temporarily in a Battle for permission to Fly from Detroit to London on a route vacated when pan am died. Delta agreed to buy the Detroit London route As part of a Large package of assets picked up from pan an last fall for $460 million. Northwest argued that it has better Detroit operations. November s Industrial output Falls posting four month slide Washington a Industrial production fell 0.4 percent in november the government said monday As the manufacturing sector of the Economy continued a four month slump. The Federal Reserve report was the latest in a Batch demonstrating weakness in the Economy. Earlier it said Industrial production was Flat in october after inching up just 0.2 percent in september and falling 0.1 percent a month earlier. Illustrating the effect of the manufacturing sector on the Economy the labor department reported previously that 33,000 factory jobs were lost in november on top of 32,000 in october. Earlier this year Industrial production had shown signs of strength leading some analysts to suggest the manufacturing sector was playing the unusual role of leading the Economy out of the recession. In an accompanying report on capacity utilization the fed said the operating rate of the nations factories mines and utilities slipped 0.5 percentage Point to 79.1 percent. A a drop in the output of motor vehicles and parts1 and a strike at a major producer of construction and mining equipment accounted for much of the november decline in production the report said. But it added a Industrial output in other industries edged Down on  production at manufacturing plants making both durable and non durable foods fell 0.5 percent the first drop since ast March. It was unchanged in october. Output of durable goods a usually expensive items such As cars expected to last More than three years a declined 0.9 percent after edging Down 0.1 percent in october. Production of non durable goods such As food and clothing was unchanged after inching up 0.1 percent the previous month. Mining output also was unchanged in november after falling 0,6 percent a month earlier. Utility production on the other hand Rose 0.9 percent following a 0.1 percent increase the previous month. In the capacity utilization report the fed said the operating rate at factories fell to 78.0 percent from 78.6 percent in october. The rate at plants making durable goods dropped 0.8 percentage Point to 75.1 percent while at plants making non durable goods it slipped 0.2 percentage Point to 81.9 percent. Windfall Law May Cut social Security for . Workers applying next year by Mike Causey the Washington Post Washington a Federal workers applying for social Security next year at age 62 May have their monthly benefits reduced by As much As $194 because of the Windfall benefits act a Law most never hear of until they get a shrunken social Security Check. Most will get some kind of social Security Benefit based on private sector employment in a social Security covered Job before going into government while working for Uncle Sam or after leaving the government. But the 1983 Windfall Law Means Many workers wont get the full social Security payment they anticipated if they Lack 30 years of service in a social Security covered Job. The social Security Benefit consists of three Levels. The first level is subject to the Windfall reduction. This year the maximum reduction for such an individual applying for social Security is $183 per month. Next year the maximum reduction will be $194 a month. The average monthly social Security Benefit now is $602. Congress passed the Windfall Law to prevent workers from getting what it Felt were excessive benefits after paying Little into the social Security system. Unlike the civil service pension program which bases annuities on salary and length it if service social Security has a welfare a a tilt designed to help people who had Short private sector careers or Low earnings during their working life. That tilt gives them a proportionally bigger return in benefits than someone who spent a full career at High salaries in social Security covered jobs. The Windfall Law reduces but does no to eliminate an individuals earned social Security Benefit. It is different from the Public pension offset Law. The offset Law deals with a spousal or survivor Benefit under social Security. The Complex Windfall rules Are explained in social Security fact Sheet no. 2. It is called a pension from work not covered by Sochi Security. Briefly the Windfall Law wont affect people who a have 30 or More years of substantial earnings under social Security. This year for example substantial earnings is defined As anything Over $9,900 per year. In 1992, that level will Rise to $10,350. A were hired by the government after dec. 31, 1983, and went into the fers pension program. A retired a or were eligible to retire a from the government before january 1986. R on target at new location the Northrop corps target production line is up and opera lion in commitments to the . Navy the company shifted All tonal at a new location in Hawthorne calif., As result of s huge its missile and unmanned vehicle production from Newbury consolidation Effort. With a target business backlog of $100 Mil Park calif., to the Hawthorne site