European Stars and Stripes (Newspaper) - January 18, 1992, Darmstadt, Hesse                                Saturday january 18, 1992 the stars and stripes b Page 17money matters today s tip Reebok International Ltd. Said thursday it expected its fourth Quarter results to be at record Levels for sales and earnings. During the fourth Quarter of 1991, sales of Reebok footwear in the United states were up 12 percent compared with 1990�?Ts fourth Quarter while sales of Reebok a International division increased More than 54 percent said the company based in Stoughton mass. Consolidated sales for the fourth Quarter of 1991 were up More than 20 percent Reebok said. The 1991 results will be reported Jan. 30. Reebok said it does not generally comment on quarterly results shortly before their scheduled Public release. But the company said it breached its Normal practice to respond to investor inquiries sparked by High trading volume thursday in Reebok shares. 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 $357.30 an ounce Silver at $4.33. Jan. 16 Jan. 17 British pound.1.7590 1.7810 German mark.1.6240 1.6030 French ranc.5.5205 5.5475 dutch guilder.1.8180 1.8372 belgian franc.33.26 33.23 italian lira.1,220.10 1,224.80 Swiss franc.1.4350 1.4280 greek drachma.186.40 188.15 turkish lira.5,379.00 5,426.00 saudi arabian riyal.3.7501 3.7501 Spanish peseta.102.48 103.23 portuguese escudo.139.80 141.00 Canadian dollar.1.1551 1.1530 austrian schilling.11.3410 11.4700 norwegian krone.6.3450 6.4100 danish krone.6.2600 6.3200 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 1.58 through monday based on fridays noontime Price fixing. New York Exchange new York up a York Slock Exchange the 15 most Active stocks in new composite trading on thursday. Stock sales last net chg. Glaxo holdings 9,433,500 30% off 1% Citicorp 6,693,300 14% off % general motors 4,200,400 34% up 2% Rwjr Nabisco hid 3,580.800 11% off % Tel Fonos de my 3,253,100 51% up 1 Uniss corp 3.237,900 5% up % Philip Morris 3,148,000 76% off 1 % Fedl Natl Mage 3,134.000 64% off 3 adv Micro docs 2,750,700 17% off 1% Avistar inti 2,667.300 3% up % Pepsico inc 2,619,500 33% off 1 % inti paper co Pfizer inc 2,561,000 72% up % 2,547,200 76% off 3 us Marathon 2,369,800 23% up % Conti Bank corp 2,358,300 12% up % american Exchange new York up american Stock exc Slock Bio pharmaceutics Enzo Bochem Energy service Echo Bay mines Wang labs inc b Americus disc Alza corp magma Copper co Americus desc Ivan corp the 10 most Active stocks in Lange composite trading thursday. Salei last net chg. 1,670,600 4 off % 967,900 5% off 1 824,000 1% up % 677,700 8% up % 548,700 3% unch 539,600 11% up 1% 527,100 46% off 3 526,900 6% up % 515,900 8% up % 514.100 35% off 2% Dow Jones new York up Dow Jones closing Range of averages thursday 30 industrials 20 transport 15 utilities 65 stocks a Lek 3289 13 146487 214 51 1199 48 Low 3200.80 1424.14 21069 1168 36 close 324955 1445 81 211 94 1184 71 change -8 95 up 14 38 off 2 13 up 014 98 brokerages Banks fined for false securities records by the Washington Post Washington in one of the most sweeping Federal enforcement actions in history 98 brokerage firms and Banks thursday agreed to pay fines totalling $5.2 million to Settle charges that they routinely lied to get bigger allotments of investments sold by government housing student loan and farm credit agencies. Among the firms consenting to the fines were some of the biggest names on Wall Street and in the banking world. Brokers included Merrill Lynch government securities inc. Goldman Sachs amp co. And Morgan Stanley amp co. Banks included the Bank of new York the Bank of California and Bank one Texas. The 98 Banks and brokers which will pay individual fines ranging from $5,000 to $100,000, were charged with inflating and falsifying records of their customer orders for Agency securities. The purpose of the deception a which some of the firms carried out by keeping two sets of books a was to obtain the biggest possible share of the securities available for resale in the marketplace. The firms earned commissions on the number of securities they sold. Richard c. Breeden chairman of the securities and Exchange commission said thursday that the firms a were creating crib sheets and other false records to make sure that when they lied they lied  Sec interviews with brokers and Bankers later revealed that the practice of exaggeration was a nearly Universal Quot he added. The Sec investigation of bidding practices of brokerage firms and Banks was an outgrowth of last Summers Salomon Brothers inc. Scandal. Salomon disclosed then that it not Only submitted phony bids for government securities but also had Given false customer information to the Federal Home loan mortgage corp., often called Freddie Mac and other agencies. In response to the Salomon scandal the government plans a fundamental change in the system the Treasury uses to auction billions of dollars of government securities said a source familiar with a forthcoming report to Congress by the Treasury department the Federal re serve system and the is c. The Sec was joined in its investigation of Agency bidding by the comptroller of the currency and the Federal Reserve system which oversee the financial institutions involved. In addition to Freddie Mae. Agencies issuing the securities included the Federal National mortgage association tannic Maethe student loan marketing association Sallie Maethe Federal Home loan Banks and the Federal farm credit Banks funding corp. Breeden said the agencies contended that the manipulation of customer order figures did not injure investors or the agencies that issued the securities. But he maintained that the practices took the investment firms Down a a Slippery slope that on a future occasion could have resulted in investor losses. Breeden said Salomon Brothers was not included in the agreements with the 98 firms because the prestigious new York brokerage firm is still under investigation for using its customers names without their knowledge to bid on government securities during Treasury auctions. Publisher Sulzberger names son As 5th in family to run . Times new York map Arthur Ochs Sulzberger Public scr of the new York times for. 29 years passed the Job on to his son thursday. Sulzberger 65, continues As chairman and chief executive officer of the new York times co. His 40-year-old son Arthur Ochs Sulzberger jr., becomes the fifth family member to head the paper since it was bought in near bankruptcy in 1896 by Adolph s. Ochs. Ochs the publisher until 1935, and his successors made the times one of the worlds Foremost newspapers. The elder Sulzberger a grandson of Ochs took Over in May 1963 and led the times through the assassination of president John Kennedy Urban and Campus riots Vietnam Moon landings watergate and the crumbling of the communist bloc and the soviet Union. He also oversaw the expansion of the times company into ownership of other print broadcast and paper enterprises. Sulzberger called his songs promotion from Deputy publisher to publisher an a important step in forming the management team that will Lead t he new York times in the years  the new publisher has been a familiar face in the times newsroom and has been actively involved in the papers financial and technological affairs. The younger Sulzberger said the newspaper will further expand metropolitan reporting and adjust its foreign coverage for which it is especially noted to reflect the continuing political and social changes in the world. A we will continue to review that on a regular basis a he said. A the important thing is that there is no Lack of commitment or pulling Back in the  during the elder Sulzberger a tenure the paper won 31 of its 63 pulitzer prizes. It was the leading player in two historic free speech and free press court cases times is. Sullivan which established a first amendment defense against libel and the Pentagon papers in which the government Effort to suppress the Doc Arthur Ochs Sulzberger and his son Arthur Ochs Sulzberger jr., in a recent photo. Zuments was Defeated. The papers circulation Rose from 714,000 to 1.1 million daily and from 1.4 million to 1.7 million sunday. Overall revenues grew from $100 million to $1.7 billion for All the company a properties As the times grew into a Media Empire that included 32 regional newspapers 17 consumer and Trade magazines five television stations and a radio station a news service and other information services. The times also has a half interest in the International Herald Tribune and minority interest in three paper Mills. Except for one year at the Milwaukee journal the elder Sulzberger a newspaper career was entirely at the times where he was a reporter and foreign correspondent before moving into executive positions. Arthur Ochs Sulzberger or. Succeeded his brother in Law Orvil Dryfoos As publisher in 1963. Dryfoos had succeeded Sulzberger a father Arthur Hays Sulzberger in 1961