European Stars and Stripes (Newspaper) - March 15, 1992, Darmstadt, Hesse                                Dollar watch sunday March 15, 1992 the stars and stripes a Page 15 shown below Are the highest Dollar Exchange rates for the week of March 9 14 compared with Dollar rates for the same period one year and five years ago. German Mark one Dollar would buy you 1.64 1$92 1.53 1991 1.84 1997 a military Exchange rate British Pound one Pound would Cost you 1.77 r-87 i 1.59 1992 1991 1987 belgian franc 34.49 32.39 Jas la 1991 l 1987 i one Dollar would buy you 38.65 one Dollar would buy you 1.88 1.77 1992 l 1991 l 2.11 1987 franch Iran one Dollar would buy you 5 69 6.18 of it 5.35 1992 i 1991 i 1987 i  Mamma Mumm greek drachma one Dollar would buy you 192.85 a 169.60 1992 1991 l 135.95 1987 italian Era one Dollar would buy you 1,257 1i176 1.320 1987 1991 Spanish peseta one Dollar would buy you 130.30 105.41 97.85 97.8b i 1991 1 1987 i turkish lira one Dollar would buy you 6 058 a 3,451 1992 Money matters Battle Between rates growth makes for turbulent Market by Rob Wells the associated press new York the turbulence in the Stock Market last week gave Rise to a variety of unpleasant images a meat grinder. A demolition Derby. Or the queasy sensation of Riding a rickety Ferris wheel at a Low budget country fair. All in All not much fun on Wall Street. The cause of this turbulence was a Battle Between two mighty forces a rising interest rates and signs of emerging growth in the Economy. Treasury Secretary Nicholas f. Brady recently compared the signs of economic growth to Robins nibbling on the Lawn a bucolic vision of Spring renewal. A Range of economic reports last week supported that View retail sales were up 1.3 percent in february and wholesale prices Rose a modest 0.2 percent last month. But there May be Poison in the Bird feed economists and Stock pickers warn. The Treasury a 30-year Bond took the economic news hard with its yield crossing the critical 8 percent threshold last week. With such an attractive yield new investment could be siphoned away from stocks and into Bonds. The rising yield also threatens to lift mortgage interest rates slowing the recently revived housing sector. A at this time i think the Bond Market is leading the Stock Market a said Robert f. Dickey technical analyst for Dain bos Worth inc. Tim Shea portfolio strategist for . Lawrence inc., said the conflict Between rising interest rates and growth places the Market a at a critical Point. Its threatening to Cut off any economic recovery we May have at this  Shea and other analysts said Market analysts have figured into existing prices much of the growth seen so far. Now Stock prices Are at historically High Levels relative to corporate earnings. A evaluations Are stretched to the Point where we done to have much leeway if the rates continue to Rise a Shea said. This makes the Market hypersensitive to anything that could Send interest rates higher. For example the Dow Jones average of 30 Industrial stocks fell 22.36 Points wednesday responding in Large degree to comments by president Bush. Bush said he Wasny tas concerned with the Overall trend in Long term rates As he was with economic growth. Bonds Sank even though Bush had made other positive comments for Bond investors by reaffirming his support to budgetary spending Caps to keep the deficit under control. For the week the Dow Jones average gained 14.31 to 3,235.91. On the american Stock Exchange however the Market value Index lost 3.89 to 404.06 for the week while the new York Stock exchanges composite Index gained 0.51 at 224.30. In the Over the counter Market the Nash a composite Index Rose 2.68 to 618.62. So How Long will this Battle Between stocks and Bonds continue a a that a a Good question a said Hilde Gard Zagorski vice president and Market analyst for Prudential securities co. A eventually the Bond Market will become reconciled to the fact that this would be a Good slow recovery a she said and the Battle will be resolved. No ones exactly sure How Long that will take. Not everyone on Wall Street believes the turbulence is that bad. In the View of some this is the confusion that results when the Economy is making the transition from the 20-month-old recession into a slow and steady recovery. Some of those signs Are present in the Stock Market. Bank stocks Are popular again among investors who believe the worst is behind that troubled sector Dickey said. So called cyclical stocks a companies that thrive in a growing Economy like paper chemicals and airlines a a Are acting very Well. There was also a lot of Good buying going on in the retail group a Dickey said. Yet Shea expressed worry that the signs of growth so far May Only be a rerun of last Spring when a slight gain in economic activity fell Flat. A there is a Point where this is a repeat of 1991,�?� Shea said. A we started off with Promise the Market discounted it and then we get stuck in another trading  a amps irs sends out refunds to ineligible families Cincinnati apr the internal Revenue service has mistakenly sent some tax refunds of up to $1,235 to Low income families who May not have been eligible for them an Agency spokesman said Friday. The irs does not know How much Money was involved How Many incorrect refunds were sent or whether they occurred through All 10 of the Agency a tax processing service centers nationwide spokesman Frank Keith said. The refunds some of which were sent out from the Agency a Cincinnati service Center were sent to taxpayers whom the irs thought May have been eligible for the earned income credit which is designed for working families with children and adjusted Gross income of less than $21,250. Last year 2 million people who were eligible failed to file for the credit the irs has estimated. Congress told the Agency to try to make it easier for taxpayers to claim it this year. As a result the irs decided to Send letters to potentially eligible taxpayers whose returns were done by professionals but did no to claim the credit. The letters were to have asked taxpayers for More information to determine eligibility Keith said. A unfortunately it appears. In some cases that we May actually have sent out a refund rather than the notice a Keith said. At amp to signs Deal to bring fiber optic network to Poland Warsaw Poland apr american Telephone amp Telegraph co. Has signed a $26 million contract to build a 900-mile fiber optic network As part of an Effort to revamp Poland a antiquated phone system. The Deal signed thursday Between at amp to a Netherlands subsidiary and the state owned polish telecommunications co., will be financed in part by a world Bank loan said polish telecoms spokesman Ryszard Iwan. The digital fiber optic lines in Central and Western Poland will significantly increase the capacity of the phone network within two years he said. The network is to link Warsaw Olsztyn l6dz, Bydgoszcz Poznan Sieradz wroclaw and Ogorzelec a City on the Border with Germany. Currently Calls Between Many regions of Poland must be ordered through an operator and require hours of waiting for a connection. Business $207 million sales drop is reported by porsche from wire reports Bonn Germany a German luxury sports car maker porsche said Friday that sales continued to drop in the first six months of its 1991-1992 business year. Porsche Boss Arno Boehn told a shareholders meeting that total sales dropped by 342 million Marks $207 million to 1,132 Oillion $679 million in the first half of the business year that ends july 31, 1992. He said foreign sales dropped 36 percent to 606 million Marks $367 million. Times Square seeks help new York a times Square Plaza the triangular new York building famous for its electronic strip of moving headlines and for the Ball that Falls each new years eve has filed for bankruptcy. The filing for Protection under chapter 11 of the Federal bankruptcy act was not unexpected because the building had been in financial trouble for months the new York times reported. The building is owned by three companies a oct realty management corp., co Square inc. And Otom corp. A and four limited partners. The building is at 42nd Street and the Junction of 7th Avenue and Broadway on times Square. Goodyear expanding Akron Ohio a Goodyear tire and rubber  directors have approved the initial phase of a $63.5 million expansion at the company a Point pleasant w.va., polyester resin Plant. The project will increase the plants capacity to manufacture resins used in making food containers. The expansion to be completed by the first Quad of 1994, will boost annual poly Ethy Halate resin production by More than 35 percent. Ter will boost annual Lene Terleph