European Stars and Stripes (Newspaper) - February 6, 1992, Darmstadt, Hesse                                Page 18 c the stars and stripes thursday february 6, 1992money matter today s tip sales of cars and trucks crawled through the first month of 1992, the Auto Industry reported tuesday. But a slight surge in the last 10 Days of january raised Hopes that a Long awaited recovery is within reach. Automakers sold 851,000 imported and Domestic vehicles last month a 3.4 percent increase Over january 1991. But late january sales of North american built cars were up 12.2 percent Over the same period a year ago. The seasonally adjusted annual Selling rate for amen can built cars was 6.1 million for late january compared with 5.3 million for the period a year earlier. The annualized rate for january was 11.8 million vehicles Down from december a rate of 13.2 million. Last january Auto sales hobbled in at an annualized rate of 11.2 million vehicles As worried Consumers stayed Home watching the outbreak of the persian Gulf War on  rates London up wednesdays 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 1354 95 an ounce Silver at $4.16. Feb.4 feb.5 British pound.1.6055 1.8010 German mark.1.5825 1.5930 French franc.5.4055 5.4475 dutch Guilder. 1.7b80 1.7990 belgian iranc.32.66 32.78 italian lira.1,192.85 1.201.70 Swiss tranc.1.4045 1.4220 greek drachma.184.73 183.72 turkish lira.5,513.40 5,500.80 saudi arabian rtyal.3.7498 3.7498 Spanish peseta.100.57 100.20 portuguese escudo.137.57 136.78 Canadian dollar.1.1745 1.1775 austrian schilling.11.2425 11.1800 norwegian krone.6.2680 6.2330 danish krone.6.1950 6.1565 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 1.55 through thursday based on wednesdays noontime Price fixing. New York Exchange new York up York Stock Exchange Stock general motors Rwjr Nabisco mid Ford motor co adv Micro docs Chrysler corp Glaxo holdings Dow Jones amp co at8t company Natl sell conduct Oak industries Pepsico inc Home Shoi chemical Bank Citicorp get corp a the 15 most Active stocks in new composite trading on tuesday. Lain 3.150,300 3.129.500 2,991,600 2.974.700 2.927.000 2.916.500 2.623.400 2.196.700 2,165,900 2.182.000 2.015.400 1.902.400 1.628.400 1,800,100 1.789.500 35 10 33 20 16 30 31 37 8 1 33 6 29 15 31 net chg up 1 up up up 1 up up up up up up up up 1 up up up american Exchange new York it Jet american Stock exc i Slock us bios Clence Conti air Hodgs Amdahl com instrument sys o Brien Energy Bolar pharm co carnival cruise Forest labs inc Henley inti inc pall corp a tha 10 most Aethra stocks in Ange composite trading tuesday. Ini last Natick a. 3,143,700 19 up 1,350,400 1 on 763,500 19 up off 423,700 7 410,300 4 up 329,600 13 up 1 322,100 27 up 1 265,200 36 up 1 261.600 19 up 255.600 29 up Dow Jones new York up Dow Jones dosing Range it averages tuesday 30 industrials 10 transport 1 Simms u stacks he 3,"83.09  110.80 1171.11 3208 63 1344.84 100.17 114t.1t 3272. 1 up 386 1301.17 in 5.71 t0i.m eiq.1t 1168.11  further interest rate cuts possible Greenspan says Washington a Federal Reserve chairman Alan Greenspan told Congress on tuesday that the Central Bank would consider further interest rate cuts to help the ailing Economy but repeated that the fed thinks it has probably done enough. Greenspan said that the Economy a performance a clearly has been disappointing and that the depth of the sense of despair among americans is unwarranted. While pledging to make further rate cuts if deemed necessary Greenspan said again that he and other Federal Reserve policy makers generally believe they have done enough to spark a rebound. Private economists said Greenspan was essentially using his appearance before the House budget committee to expand on comments last week that had caused a big sell off in Stock and Bond markets As worried investors believed Greenspan was slamming the door shut to further easing moves. A the is trying to repair the damage a said Bruce Steinberg senior economist at Merrill Lynch. A the basically said a we think we did enough. But if we did to we will do  a in contrast to last week s reaction the Stock and Bond markets rallied As traders appeared heartened by the clarifying remarks. Greenspan the Dow Jones Industrial average closed up 38.69 at 3,272.81, passing the old record of 3,272.14 set a week ago. The feds chief policy making group the Federal open Market committee began two Days of closed door discussions to set targets for monetary growth this year and to map interest rate strategy for the next two months. Analysts said they believed the committee would give Greenspan the author Ity to Cut rates further but Greenspan would not implement additional cuts until late March. Greenspan said he was not convinced the Economy needed help from tax cuts such As those proposed last week by president Bush in his state of the Union and budget messages. But he said that if Congress enacts a growth package it should be of modest size like the presidents and not violate the 1990 budget agreement which imposed  As you go provisions to keep tax cuts or spending increases from worsening the deficit. Greenspan said his great fear was that in an election year lawmakers would embark on a bidding War to outdo the administration in granting tax Breaks. A bidding wars Are something to be avoided at All costs a he said. A it would be extremely harmful to our Long term economic Outlook if this budget deficit  Japan s criticisms backed by . Experts David Hel Foertch of Greensburg pa., bashes a Honda civic parked at a Chevrolet car Dealership in Latrobe on tuesday. Lud Druchniak part owner of colonial Chevrolet put the import on his lot following japanese remarks about the american work ethic. Japanese Media faults both sides Tokyo up a japanese Media in the Wake of prime minister Kiichi Miya Zawar a criticism of americans work ethics lashed out wednesday at the Premier for stumbling and accused their . Counterparts of exploiting the rift. During a budget committee meeting monday in the diet Japan a parliament Miyazawa said that in the past decade the idea of a creating things by the sweat of your brow had waned in the United states and a a work ethic seemed to be lacking among americans. He backed his argument by pointing to the Rise of leveraged buyouts on Wall Street employing junk Bonds. The remarks initially received slight attention in the japanese Media but were featured in the United states and that Drew angry responses from . Officials. On tuesday Miyazawa and other government officials scrambled to contain the diplomatic damage. The prime minister said he had been misunderstood and never intended to criticize . Workers. A foreign ministry spokesman emphasized that the thrust of the statement was directed at japanese. Editorial writers castigated . Journalists wednesday for reporting the remarks out of context and they took Miyazawa to task for raising of sensitive Issue bound to raise the anger of americans. The mass circulation Asahi Shimun said a this Case is an example of How focusing on one word or phrase can invite misunderstanding. As journalists we have to admonish ourselves of the danger of focusing on part of a subject Quot but the writer added a since Miyazawa is familiar with the character of the american Media and the Over sensitivity of the United states he should have realized the americans would jump on the word a work  a Anchorman Hiroshi Kume said tuesday night on the top ranked Asahi to newscast that foreign reporters seemed intent on exacerbating bilateral tension. In his off the cuff remarks he also speculated their inability to speak japanese had led to the misunderstanding. By the Washington Post new York a americans were stung monday when Japan a prime minister said . College graduates were More interested in making Money than producing goods but . Economists business professors and others agreed tuesday with the thrust of what he said. Japanese prime minister Kiichi Miyazawa faulted the United states on monday by saying that Many of the Best and the brightest of its College graduates spent the 1980s Rushing to the securities Industry to get Rich instead of heading to the automobile or electronics industries to make cars or videocassette recorders. A a it a a reasonable criticism a said Paul w. Van Orden a former executive vice president of general electric co., who now is coordinator of the Center for International business education at Columbia business school. A certainly the idea a make a lot of Money it does no to make any difference whether you produce anything valuable a was part of the emotion of the 1980s,�?� Van Orden said. Part of his current Job is counselling students and he said it is a a rarity to find a student with a masters degree in business a who wants to seek a Job in manufacturing or  several experts said Miyazawa had exaggerated the scope of the problem. They said Wall Street for All the publicity that it gets absorbs Only a Small fraction of business school graduates and other Well educated americans. Nevertheless there is wide agreement that the huge salaries and glamorous lifestyle available on Wall Street during the 1980s Drew Young graduates there at the expense of the More mundane goods producing manufacturing and engineering industries. At Harvard University a business school for example the percentage of graduates going into the investment banking brokerage Industry in 1986 and 1987 exceeded the share that went into the combined total for All 17 Industrial categories that the school labels As  the share heading for Wall Street dropped sharply after the 1987 Stock Market crash and the number of students opting for jobs in manufacturing has crept up reaching its highest level in 10 years during 1991