European Stars and Stripes (Newspaper) - January 5, 1992, Darmstadt, Hesse                                Sunday january 5, 1992 the stars and stripes a Page 17_______money matters Dollar watch shown below Are the highest Dollar Exchange rates for the week of dec. 29 Jan. 4 compared with Dollar rates for the same period one year and five years ago. $1.47 1987 German Mark one Dollar would buy you 1.50 1.46 1992 1991 military Exchange rate danish Krone one Dollar would buy 5.96 5.75 1992 1991 a amps the Dollar ended higher in thin Choppy trading in new York on Friday propelled up from its recent lows by continued unrest in the former soviet Union. News reports of widespread dissatisfaction with drastic Price increases imposed on most goods in shops in Russia and the other onetime members of the . Caused traders to pull out of the German Mark Given Germany a proximity and the Large Loans to Russia made by German Banks. Ongoing clashes Between rival factions in the former soviet Republic of Georgia Are also helping depress the Mark and boost the Dollar which has enjoyed a Rise on traditional a flight to safety despite the fundamental weakness of the . Economy. Walter Simon at the Bank Julius Baer cited the developments in the former East bloc As one prop that helped the Dollar stay up. Another was Short covering. A people were too bearish in thinking the new year would unleash a tremendous round of Dollar Selling and Are now scrambling to right their positions he said. Simon said the Market remains Well aware that without the Price crisis in the Commonwealth of Independent states the Dollar would probably be heading South now. A most people would Start to feel More comfortable if the Dollar were to begin to Retreat again to More realistic Levels he said. Simon said the interest rate differential would continue to weigh heavily upon the Greenback but when the need arose people would find reasons to continue to buy the Dollar. In late new York trading Friday the Dollar Rose to 1.5440 German Marks from 1.5285 thursday and to 124.75 japanese yen from 124.50. The Dollar gained against the British Pound As Sterling fell to $1.8485 from $1.8670. Through monday at military Banks $1 buys 1.50 German Marks. One British Pound costs $1.90. A a there a no compelling reason to buy the Dollar a Simon said a but if you re looking to explain the higher Dollar you can find  United press International you 7.39 i 1987 1.94 1987 British Pound one Pound would Cost you $1.87 $1.93 -1i retail stores report 3rd year of weak sales during Holiday by the new York times the nations big retail chains reported on Friday disappointing december sales even falling Short of the Industry a modest goals retail executives and Industry analysts said. The reports Mark the third straight year of weak sales during the crucial Holiday Selling season. Several Large merchants including Sears and . Penney either failed to match or barely exceeded last years poor results while the Gap and Wal Mart stores posted solid gains. An Index of sales at 17 leading retailers compiled by Alex. Brown amp sons gained a meager 1.8 percent for the month. Adjusted for inflation sales were actually Quot Down by 1 percent for december said Robert f. Buchanan a retailing Industry analyst with Alex. Brown. Buchanan had expected retailers to gain about 3 percent for the month. Many of the chains were hoping for gains of 5 percent. December sales fell 2 percent at Sears compared with the month a year earlier. Sales at Sears stores open for More than a year were off 1.8 percent. At . Penney sales were up 2.3 percent from a year earlier. But sales were up Only four tenths of a percent at Penney a stores open for More than a year. The Gap inc., which has dotted the country with stores Selling turtlenecks jeans and other casual clothing continued to Post Strong gains with sales jumping 30 percent for the month. The gaps comparable Storc sales increased 14 percent in december from a year earlier. Sales of Wal Mart stores inc. Increased 26 percent. For investors worries about the profitability of retailers were rekindled by Friday s sales figures. Merchants were forced to slash prices in december to attract shoppers a move expected to Hurt profits. A some retailers May have shown sales increases but that does no to mean that profits will follow a Buchanan said. A profits arc under considerable  even on a Day when the Dow industrials gained nearly 30 Points Many retailing stocks fell. Dayton Hudson lost $1.50, to $60.25. Sears fell 12.5 cents to $38.50. . Penney was off 37.5 cents to $55, and May department stores was unchanged at $53,625. The Gap was an exception gaining $2.75 to close at $58.75. Wal marts Stock fell by As much As $3 during the Day before closing at $57.75, off $1,375. Analysts said however that Wal Mart remained Strong. For accounting purposes Wal Mart had one fewer saturday in december than it had a year earlier a difference that Cost the company several percentage Points of growth analysts said. Wal Mart gained 13 percent in november giving the company an average sales gain of 9 percent for the two months. But even fast growing Wal Mart could not entirely avoid the recessions effects. Same Storc sales at the company a same a clubs warehouse clubs grew Only 3 percent in december. Buchanan said some of the warehouse clubs Small business customers were being pinched by the recession. Retailers resorted to wholesale Price cutting last month to win sales. A retailers had to really go out there and buy sales by cutting prices said Robert Roth a retailing analyst at Merrill Lynch. The president of Dayton Hudson corp., Stephen e. Watson warned that weaker than  sales and aggressive Price cutting would have Quot a substantial Impact on earnings for the Quarter and the  March of the Bull is relentless with Dow eclipsing 3,200 Mark new York up the Stock Market opened 1992 on a shaky footing but quickly bounced Back to Power the Dow through the 3,200 Barrier for the first time in Wall streets history. The Dow Industrial averages powerful year end rally has astounded analysts some of whom even thought the Blue Chip indicator had run out of steam when it spent most of the new years first trading Day in negative territory. A a it a been truly truly a Surprise a said Hugh Johnson head of the investment policy committee at first Albany corp. In Albany . Trude Latimer chief Market strategist at Josephthal Lyon amp Ross concurred and added a a it a the most consistent year end rally i can  but when the Dow faltered shortly after 1992�?Ts opening Bell Eugene Peroni jr., chief technical analyst at Janney Montgomery Scott inc. In Philadelphia thought the rally had lost its momentum. But not Hildegard Zagorski Market analyst with Prudential securities inc., who proclaimed that a the March of the Bull is  a despite some gloomy economic news investors Are looking ahead six months out when they Hope the Economy will recover with the help of lower interest rates and some fiscal measures a Zagorski added. A the Market May run into some profit taking but so far it has not run out of  for the week the Dow Jones Industrial average surged 3 percent or 99.96 Points to close at an All time High of 3,201.48. Fridays surge marked the sixth straight time that the Dow has set a record High and the 11th consecutive Day the Blue Chip indicator has advanced gaining 299.20 Points a or 10 percent a m less than three weeks. It was a remarkable achievement considering the Dow gained 535.17 Points a or 20 percent a for the whole 1991. Advancing issues overwhelmed decliners 1,663-452 among the 2,320 issues traded last week. Weekly big Board volume totalled 923,218,513 shares up from 695,386,750 traded a week earlier but up from 519,897,830 in the same week a year ago. Stocks rallied for the sixth straight session in heavy trading monday As investors hoping for a revived Economy in 1992 continued a buying spree that has boosted the Market to record highs three times in the last three trading Days. The Dow surged 62.39 to 3,163.91. The Dow transportation average jumped 30.08 to 1,344.92, rewriting its record High of 1,315.02 reached last thursday. Stocks closed higher in heavy trading tuesday ringing out 1991 with a spectacular seven Day rally that propelled the Market into record highs in the last four trading Days of the year. The Dow added 4.92 Points to 3,168.83, and the Dow transportation average jumped 13.08 to 1358.00, erasing the record High reached monday. Stocks closed narrowly mixed in Active trading thursday As the Blue Chip sector extended its winning Streak for the eighth straight Day and the Broad Market succumbed to a profit taking hangover. The Dow inched up 3.58 to 3,172.41. Stocks closed higher in heavy trading Friday ramming the Dow through the 3,200 Barrier after overcoming a shaky Start to the new year. On the trading floor last week Rwjr Nabisco holdings again paced the big Board actives inching up la to 107/s. General motors followed climbing 4v4 to 32vi after Dean Witter Reynolds and Prudential securities inc. Upgraded their ratings on the big three automakers stocks. Ford Rose 25a to 30va and Chrysler added 2vi to 13 i. Wal Mart stores was third gaining 1 a to 573/4. Philip Morris was fourth rising 2va to 79i/i. On the american Stock Exchange the amex Market value Index Rose 3.32 to close Friday at 398.83, erasing the record Market update activity for the week of dec. 30 Jan. 3, 1992 daily Dow closes highest close week s High lowest close week s Low weeks change 3,201 48 Fri 3,221 38 Fri. 31g391 Mon 3,090 79 Mon. Up 99.96 a Holiday aps amps High of 397.03 reached oct. 10, 1989. For the week the Index jumped 15.89. Amex volume totalled 93,069,080, compared with 62,520,665 shares a week earlier and with 40,068,475 in the same week a year ago. Americus be led the amex actives rising a to a