European Stars and Stripes (Newspaper) - February 13, 1992, Darmstadt, Hesse                                Page 18 a the stars and stripes thursday february 13, 1992money matters a telecommunications company announced plans tuesday to provide Telephone service to the 15 former soviet republics. Sci International worldwide telecommunications of Columbus Ohio said it expects the Federal communications commission to approve its plan feb. 17, the company will provide Lon distance service to the Commonwealth of Independent states of Armenia Azerbaijan Belarus Kazakhstan Kyrgyzstan Moldova Russia Tajikistan Turkmenistan Ukraine and Uzbekistan. It will also serve the former soviet Republic of Georgia and the Baltic states of Estonia Latvia and Lithuania. The rates for placing Calls to the soviet countries will average from $1.65 per minute to $2.10 per minute depending on the time a Call is made said Eric Mattlin a Cir a manager of International services. Conversion 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 $356.35 an ounce Silver at $4.19. Feb. 11 feb. 12 British Pound.1.80635 1.79320 German mark.1.5885 1.6005 French franc.5.4170 5.4530 dutch guilder.1.7875 1.8030 belgian franc.32.69 32.85 italian lira.1,196.70 1,203.50 Swiss franc.1.42325 1.43200 greek drachma.183.85 185.27 turkish lira.5,110.00 5,530.00 saudi arabian rtyal.3.7501 3.7501 Spanish peseta. 100.02 100.91 portuguese escudo.136.76 137.94 Canadian dollar.1.1805 1.1810 austrian schilling.11.17 11,22 norwegian krone.6.2300 6.2750 danish krone.6.1570 6.2095 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 British pounds to . Personnel for personal use. Through thursday this will be $1.84 Tor a Pound based on a Price fixing wednesday afternoon at military banking facilities. New York Exchange new York up a Vork Stock Exchange Stock Uniss corp Maxis Energy chemical Bank Boeing co Philip Morris Citicorp coming inc Glaxo holdings Natl sell conduct Amer express co Chrysler corp Rwjr Nabisco hid Pepsico inc Westinghouse Al Ford motor co Lay. Not the 15 most Active stocks in new composite trading on tuesday. Sale lilt 4.162,100 9 4k 3.747.000 8 i 3,086,700 31 46 2.873.000 47 2.756.000 74 46 2.629.600 16 i 2.555.400 29v 2.461.400 29 a 2.368.600 9 46 2.141.600 21 i 2.023.000 15 a 1.977,500 10 i 1.953.300 32 a 1.719.300 19 i 1.619.600 34 Vichy. Unch up i of a off 1 off i Oil a off i on i up a it up a off a Oft i up 46 up i up i american Exchange new York up american Stock excl Slock go video inc Wang labs inc b us Bio science Amdahl corp fruit of loom Alia corp carnival cruise magma Copper co greyhound lines go video inc win the Tan most Active stocks in Ange composite trading tuesday. Sait let of chg. 3,047.000 4 a up a 1,593,600 4 1/4 up 1.211.000 17 up 1 it 724,900 16 46 off 46 566,700 34.6 up 2 410.300 43 i Ort 1 46 409,100 31 a unch 332,500 7 up i 331,900 10 46 up 1 i 302,200 2 46 up 46 Dow Jones new York up a Dow Jones doting Range of averages tuesday 30 indu Slipais 20 transport 15 unities 65 stocks mat 3277 28 1104.33 209 25 1178 20 Lew 3222.50 1380.42 20662 1159 03 close 3251.67 1390 32 208.69 116901 change up 6 49 up 149 up 1.25 up 2 64 wary Congress starts work on president s tax Cut Bill the House ways and Gressional icat eans committee began considering by the los Angeles times Washington a Congress began work on president Bush selection year tax Cut Bill wednesday amid signs that the package already May have become jeopardized in a mire of partisan wrangling. Bush proposed a 49-Point tax Cut plan last month urging Congress to pass seven a Short terms provisions a including a Cut in capital gains tax rates a by March 20 on grounds that the measures Are needed to Spur the Economy. Acting on a pledge by democratic congressional leaders the m _ _ Bush a plan formally wednesday aiming to push it through As Early As next week. And the Senate finance committee has scheduled a drafting session for feb. 25. But the package already has become enmeshed in procedural infighting that threatens to pit liberals against conservative democrats and democrats against republicans in a Battle Over which version should prevail a the administrations or a still unwritten democratic substitute. Part of the reason that Bush sought to separate the Short term provisions is that they could be enacted without violating the 1990 budget Accord which requires that lost Revenue be made up by offsetting spending cuts or tax increases before the full 49-Point plan is passed. But House democratic leaders seek outline of tax Bills a president Bush s plan would reduce taxes on capital gains increase the $2,300 personal exemption by $500 per dependent child starting oct. 1 and provide a tax credit of up to $5,000 to Home buyers who have not owned a Home in the past three years. B House Bill 4200 would strip from the president s Bill everything except seven proposals that Bush wants approved by March 20. These proposals include a Cut in the taxes on capital gains a greater reduction than even Bush propose the $5,000 Home buyer credit and penalty free Ira withdrawals for Home buying House Bill 3730 would give each wage earner a tax credit of up to $200 per year $400 for a couple in 1992 and 1993. My to throw a Monkey wrench into the process have Laid out a strategy that Calls for sending Bush a full 49-Point plan to the House floor where it could be held up on procedural grounds. Under the new democratic strategy Home soles costs climb of mortgage rates drop Washington a More renters became buyers As mortgage rates plummeted in the october december Quarter helping to drive up existing Home prices throughout much of the nation a real estate Trade group says. Sales increased in All four regions from the fourth Quarter of 1990 to the fourth Quarter of 1991. That in turn helped boost prices of existing Homes in All but seven of the 117 metropolitan areas surveyed by the National association of realtors the group reported tuesday. The biggest appreciation in Home values occurred in the Interior of the nation where 23 cities posted double digit gains. Major cities along both coasts experienced much slower gains and sometimes even losses. Dorcas t. Helfant the realtors president said sales at the end of the year were concentrated in entry level houses As first time buyers enjoyed the lowest mortgage rates since 1973. Nationally the median Price of a used Home Rose 7.4 percent to $99,000, from the fourth Quarter of 1990 to the same period of 1991. Forty five areas had Price gains exceeding the National increase. The median Means half of the Homes Cost More and half Cost less. Honolulu As usual had the most expensive housing despite a 8.8 percent decline in the median Price to $335,000. Saginaw mich., was the most affordable at $53,600 despite a 14,3 percent spurt in the typical Price. The steepest Price gain occurred in Spokane wash., where prices jumped 19 percent to $67,500. That was followed by Baton Rouge la., up 16.7 percent to $72,700, and Peoria if up 16.4 percent to $58,300. Honolulu suffered the sharpest depreciation with its 8,8 percent drop followed by the Monmouth area of new York Down 5.4 percent to $131,400, and Hartford conn., where prices fell 4.1 percent to $146,200. Nationally sales Rose 4.7 percent to a seasonally adjusted annual rate of 3.57 million from the final Quarter of 1990. The democrats then would write their own version expanding the modest Middle class tax Cut proposed by Bush and possibly increasing the tax Burden for the Rich. Their Hope is that Bush then would be forced to veto his own legislation. The ways and Means panel was expected to begin carrying out that strategy wednesday sending Bush a original package to the floor and then recessing to allow democrats to meet in closed door caucus to draft a substitute. House majority Leader Richard a. Gephardt d-mo., introduced the Bush plan tuesday. He said he disagrees with the substance of the proposal but wants to get it on the table out of respect for the presidents a Call to  Bush warned that he would fight the democratic strategy. Meeting tuesday with republicans on the ways and Means committee the president demanded that Congress a go Forward on these seven concise growth  at the same time White House spokesman Marlin Fitzwater indicated that the administration would try to negotiate a Compromise. It still was not Clear what form the democrats proposed Middle income tax Cut would take. Some democrats have proposed simply enlarging Bush a plan or increasing the personal exemption for children. Others want to enact a tax credit for Middle income americans. Rising Home prices a amps Greenspan balks at interest rate drop san Antonio a Federal Reserve chairman Alan Greenspan conceded tuesday that rehiring after recession cutbacks a has been particularly slow but stuck to his View that interest rates Are Low enough to bring recovery. Greenspan left open the possibility of further moves to push rates lower and stimulate business. Greenspan spoke at a convention of the Independent Bankers association of America a group of Small town and country Bankers. Although Greenspan a comments echoed testimony delivered a week ago to Congress they were his first since Friday when the labor department reported that . Employers Shad an unexpectedly High number of jobs a 91,000 a from their payrolls in january. Analysts were split Over the meaning of the speech and financial markets showed Little reaction to it. Quot he a a Little bit worried about the payroll number but not worried enough to change policy a said David Jones of Aubrey g. Lanston amp co. Inc., a government securities dealer in new York. However economist Bruce Steinberg of Merrill Lynch in new York said he believed the Central Bank wanted to nudge rates lower soon but did not want to Stii up markets until after today when the Treasury department was to finish it three Day auction of $36 billion in government debt. A in the speech Greenspan noted the poor employment situation pointing oui that in the sue months that ended in Jan uary fewer than half the nations major industries posted employment gains. He said lower interest rates have encouraged both Consumers and businesses to reduce debt