European Stars and Stripes (Newspaper) - January 8, 1992, Darmstadt, Hesse                                Wednesday january 8, 1992 the stars and stripes .\vv.v\s. B Page 17 \ n is in in Quot Money matters Domestic car Light truck sales off by More than 10% in 91 the Dupont co. Said monday it will set aside $3 billion to $4 billion in the first Quarter of 1993 to cover costs of medical benefits promised to future retirees. The after tax charge would put Dupont in compliance with an accounting Rule change that requires companies to set aside reserves for future costs of health and life insurance benefits. Most companies currently operate on a  As you go basis setting aside Money As such costs Are incurred. Dupont also estimated it will have to take an annual after tax charge of $150 million to $300 million beginning in 1993 to meet the accounting Standard. Corporations have until 1993 to Start complying with the requirement approved last year by the financial accounting standards Board the nations accounting Rule making Board. Conversion rates London up tuesdays 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 $349.75 an ounce Silver at $3.96. Jan. 6 Jan. 7 British pound.1.8775 1.8720 German mark.1.5320 1.5160 French franc.5.2040 5.1775 dutch guilder.1.7160 1.7123 belgian franc.31.34 31.28 italian  1,147.00 Swiss franc.1.3525 1.3460 greek drachma .176.10 175.20 turkish lira.5,117.80 5,113.90 saudi arabian rtyal.3.7498 3.7495 Spanish peseta.96.69 96.35 portuguese escudo.132.90 132.22 Canadian dollar.1.1461 1.1428 austrian schilling.10.700 10.678 norwegian krone.5.5540 5.9700 danish krone.5.9300 5.8995 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 1.48 through wednesday based on tuesdays noontime Price fixing. New York Exchange new York up York Stock exc Nangi Stock general motors Rwjr Nabisco hid Westinghouse Al at amp to company Maxis Energy Ford motor co Browning Ferris Amer express co waste a Grant inc Chrysler corp Philip Morris Wal Mart stores blockbuster ent ism corp Pepsico inc american Exchange a the 15 most Active stocks in new composite trading on monday. Salei last net chg. 4,548,200 33 i up 1 4,394,700 10% unch 3,923,600 19% up 1% 3,659,300 40vs up % off 3,389,500 6% 3,280,100 30% up i 2,788,600 23 i up 1% 2,620,800 21 i up % of 2,459,200 44% 2,344,900 13% up % off is 2,309,200 79% 2,302,300 56% off 1 2,239,100 13% up 2,198,500 92% up 1% 2,032,000 33% off i new York up american Stock exert Stock Americus get or Americus t instrument sys Americus t Amdahl corp Energy service Americus by or Hill Haven corp Western digital first Aust pm a the 10 most Active stocks in Ange composite trading monday. Salai last net chg. 702,500 22% unch 2 so 614,600 10% up 580,800 6% up % 2 or 496,200 29% unch 443,600 15% unch 436,600 1% off % 352,300 54% unch 333,900 2% of 324.600 3 off % 319.800 10% up % Dow Jones new York up Dow Jones dosing Range of averages monday 30 industrials 20 transport 15 utilities 65 stocks High 3230.32 1375.37 225.53 1173 35 Low 3166.59 1340.81 221 90 114897 Closi 3200.13 1365.47 22302 1162 82 change off 135 up 14.76 off 2 57 up 1.48 Detroit up sales of cars and Light trucks made in the United states plunged 10.3 percent in 1991 from a poor 1990 showing with the Gulf War recession unprecedented White Collar layoffs and restructuring of americans Industrial base cited As the primary reasons. General motors corp., Ford motor co., Chrysler corp., Honda Nissan Toyota Mazda Mitsubishi Subaru and Suzuki reported 1991 Domestic car sales of 6,118,883 a an 11 percent decline from 1990, and the worst showing since the 1982 total of 5.8 million. The disappointing figures came monday As president Bush accompanied by the Heads of the big three Domestic a Torti Akers led a Mission to Japan in an Effort to narrow the nations Trade deficit. Pm Ford Chrysler and Toyota absorbed sales declines of 11.4 percent 16.4 percent 19.9 percent and 4.3 percent respectively. Honda Nissan Mazda Mitsubishi and Subaru had increases of 3.9 percent 2.9 percent 6.5 percent 39.3 percent and 212.2 percent As japanese transplants grabbed 18.4 percent of the Market. . Light truck sales last year declined 9 percent from 3,979,801 to 3,622,999 with Ford pm Chrysler and Nissan reporting drops of 10.4 percent 13.3 percent 2.9 percent and 2.7 percent. Mazda sales soared from 3,409 to 11,404 units and Isuzu reported a 96.1 percent increase. For december Domestic car sales to tales 437,235 compared with 473,945 in 1990, off 7.8 percent. Car sales during the last 10 Days of december declined 6.8 percent. A everything has just collapsed in the 1990s compared to the 1980s,�?� said Edward Sullivan an analyst with the wefa group in Bala Cynwyd a. A people arc afraid to go into debt anymore. A if the consumer keeps being reinforced that there Are Job layoffs they Are not going to Shell out the kind of Money it takes to buy a vehicle a he said. A if you look at 1992, things Arentt going to change around very  a the Economy went wrong in 1991,�?� said Michael Luckey of Luckey consulting group in Tappan . A the japanese again picked up some Market share a Luckey said. A the recession affected Middle and upper parts of the car Market because it hit Middle and upper income people. Some people who Are fairly Well off Are worried about their jobs or future concessions and the recession focused on the negative. The number one problem is that consumer attitudes Are very  a a there a a lot of Industry restructuring a he added a and White Collar workers Are not going to Back to work at Xerox or ism after being Laid off. There a a degree of permanence associated with these  the 1991 downturn said Thomas of Grady of integrated automotive resources in Wayne pa., started with a a combination of the preparation for the persian Gulf War then the War and then the  also he said a we Are undergoing a restructuring of american Industry. These White Collar layoffs arc significant and ongoing and that a accounting for a drop in expenditures. It also accounts for extreme uncertainty among Consumers and a Lack of Confidence in the Economy that a causing a slowdown in All major  the . Automakers of Grady said do not have to continue to lose Market shares to the japanese a but they have to make the right  a Japan will not save the United states automobile Industry a said Arvid Jouppi of Keane securities in Detroit. A they . Manufacturers will have to satisfy the customer More and they have to satisfy More and More customers and that will take a pretty unified Effort on the part of dealers and  a i done to really think the approach being taken by Bush with japanese automakers is going to Lead to very much a of Grady said of the presidents current trip to win concessions from the japanese for Domestic car makers. A what they re the japanese doing is they re reacting Only to the extent necessary to quell political demands. They re not going to give much As Little As possible so As the votes done to go against them politically. They want Bush in office As opposed to any  computers Call the tune As nose starts 200th birthday Celebration by Stefan Fatsis a business writer new York a the new York Stock Exchange on monday kicked off a yearlong commemoration of its 200th anniversary dating its birth to a pact signed by 24 brokers under a Buttonwood tree. The worlds second biggest Stock Exchange behind Tokyo a plans to celebrate its Bicentennial with a 29-cent . Postal service stamp a Coffee table Book a shiny medallion and a possible visit from president Bush. The Start of the festivities comes during a Market rally that has sent the Dow Jones Industrial average soaring above 3,200 for the first time. But facing increasing Competition the nose Hopes to use 1992 to boost its image. It also will push plans for attracting More foreign Stock listings and defend its floor trading system which some critics Call outdated. A we want to make sure this is not just a Chest thumping thing but an educational Opportunity for us Quot nose chairman William h. Donaldson said in an interview. An onslaught of fully computerized marketplaces such As the Nash a Over the counter Market Are challenging the Nyser a dominance. So the Exchange wants to stress the breadth and safety of a system combining humans and computers. In a speech Donaldson said the securities Market of the future would not be a an unmanned spacecraft run by computers but More like the Sta ship Enterprise a a computerized beyond our wildest dreams but in the american tradition with the intelligence and soul of human judgment on the  new York mayor David Dinkins shakes hands monday with a Stock Exchange trader. On monday patriotic Bunting and Aqua coloured anniversary flags decorated Wall Street and the 88-year-old neoclassical Exchange building which will be illuminated nightly for the anniversary. At a ceremony a 12-person brass band played standards such As a Fly me to the Moon As nose floor personnel readied for trading oblivious to inaudible speech making on a podium above. New York mayor David Dinkins rang the opening Bell and praised the Exchange As a a place where dreams have been realized where careers have been built and where our City and country have grown and  the fuss at the nose concerns an agreement by 24 brokers to Trade with each other signed on May 17, 1792, under and around a Buttonwood tree on Wall Street. The Buttonwood is believed to have died or been removed Long ago