European Stars and Stripes (Newspaper) - March 16, 1992, Darmstadt, Hesse                                Monday March 16, 1992 the stars and stripes a Page 17money matter today s tip its going going and ail but gone for the Gresham club in London founded in 1844 for a merchants Bankers and professional and other gentlemen of known  the luncheon club in the heart of London a City financial District has closed and is Selling everything movable. A the members done to come any More. Gentlemen no longer have time to be gentlemen a said Paul smart the Secretary. On March 24, Bonhams will auction everything from the butchers Block in the Kitchen to the ballot Box in which the members voted Only six years ago to deny membership to women while admitting them As  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 $347.00 an ounce Silver at $4.11. March 12 March 13 British Pound.1.7103 1.7118 German mark.1.6750 1.6680 French franc.5.6730 5.6640 dutch guilder.1.8810 1.8792 belgian franc.34.49 34.44 italian lira.1,252.15 1.250.85 Swiss franc.1.5165 1.5105 greek drachma.192.30 192.63 turkish lira.6,012.90 6,037.50 saudi arabian rtyal.3.7501 3.7502 Spanish peseta.105.25 105.57 portuguese escudo.143.66 143.88 Canadian Dollar.1.1930 1.1962 austrian schilling.11.740 11.755 norwegian krone.6.539 6.548 danish krone.6.4715 a 6.4780 these Are commercial rates and can be related Only to the use of foreign currency by . Forces for official business. The Only official rates concerns the Sale of British pounds and German Marks to . Personnel for personal use. Through monday these will be $1.76 for a Pound and 1.63 Marks to a Dollar based on Price fixings Friday afternoon at military banking  hot dogs biting into Market Chicago a want a Wiener but can to stomach the thought of so much fat try a Low fat Frankfurter made with either a sea Weed like substance or milk protein. Or How about a soybean dog its All part of the growing Battle among hot dog companies to win a share of the healthy eaters Dollar. A the hot dog Market has been fairly Flat a said Jean Bowden a spokeswoman for Oscar Meyer foods corp., the Industry Leader based in Madison wis. A hot dog companies Are always looking at ways to try to get people to come in and to entice them to use their  Low fat products Are a fast growing Field Low fat wieners accounted for 30 percent of Frankfurter sales in 1991. The newest creation is Deli Lite a Wiener made with carrageenan an edible red algae and being introduced in May. Vienna sausage manufacturing co. Is the first hot dog company to use carrageenan to bind the beef water and flavourings. Among others already on the Market Are a Hormel slight amp lean made with vegetable proteins. A co Nagray a healthy Choice a mix of Turkey pork and beef. A Oscar Meyers Low fat hot dog that adds More water and Flavouring. Subtle changes show . Beginning economic recovery by Dave Skidmore the associated press Washington a the average person will know the recession is Over Long before economists pinpoint the end of the economic malaise that began in july 1990. The newspaper help wanted Section will be a bit fatter. Neighbourhood Homes will be Selling a Little faster. And restaurant reservations wont be quite As easy to come by. The word recovery to an economist has a very specific and tangible meaning. The sum of everything produced a goods manufactured services rendered grows rather than declines. Americans incomes increase. Businesses add More jobs than they eliminate. But to the Man and woman on the Street it Means optimism will have replaced nervousness Confidence will have supplanted uncertainty and the longest business contraction since the great depression will be history. Now a although the evidence remains mixed on both the gut and the statistical Levels a the feeling is growing that the recovery has begun. A the change is so Subtle. Its not like lightning streaking Down out of the sky. But my general perception. Is that there is improvement a said . Kisling chairman of multiplex co. Inc., a St. Louis manufacturer of beverage dispensing equipment for restaurants. Kisling who is Active in the National association of manufacturers and other Trade groups spends much of his time talking to fellow factory owners. A a there a no talk about More layoffs. And there seems to be plenty of Money available from Banks he said. A a in a guardedly optimistic. I done to think there will be a whole lot to shout about but the general feeling is 1992 will be bet people however depressed they say they feel Are beginning to spend Money again. A economist Bruce Steinberg of Merrill Lynch Ter than 1991.�?� although surveys showed consumer Confidence dipping to an 18-year-Low in february retail spending is rebounding with Strong increases in both january and february according to the Commerce department. And in january Consumers increased their borrowing for automobile purchases for the first time in a year. A people however depressed they say they feel Are beginning to spend Money again a said economist Bruce Steinberg of Merrill Lynch. Even though the unemployment rate moved to a six year High of 7.3 percent in february other More sensitive indicators of the labor Market Are looking More upbeat. A labor department report showed non farm payrolls expanded by 164,000 jobs in february after hitting the Low Point a since the recession began a the month before. Looking ahead 21 percent of 15,000 companies surveyed by manpower inc., the temporary employment company said they planned to increase their work forces in the april june Quarter More than double the 10 percent that expected to trim jobs. Even the increase in the unemployment rate could be read As promising a a sign that jobless workers once too discouraged even to apply for a Job Are starting to look again. Three recent surveys a one by the . Chamber of Commerce a second by the National federation of Independent businesses and a third by lbs news and the new York times a All show businesses executives More optimistic than before. But perhaps the most hopeful sign of a recovery gathering steam is the improvement in housing. The number of omes under construction surged in january and economists believe the report for february due soon Likely will Snow starts holding at that level. According to the economic textbooks an improvement in housing a the Economy a most interest rate sensitive sector a is the first step in a Chain reaction of growth. Chrysler execs meet to pick new chairman by Rob Wells a business writer new York a Chrysler corp. Executives gathered secretly in new York on saturday to debate once again who will replace corporate Folk hero Lee Iacocca As the car maker s chairman. Few details could be gleaned from the gathering. Glenn White a retired Chrysler vice president for personnel and close aide to Iacocca declined to discuss the meeting when contacted at the Waldorf Astoria hotel on saturday. Iacocca also was at the new York hotel but  be reached for comment. None of the people entering or leaving Whites suite would comment on the meeting. Hotel Security politely escorted a reporter out of the building by Midas Lemoon. The Detroit news in its sunday editions quoted unnamed Auto Industry sources As saying that most of Chrysler a Board members were registered saturday night at the Waldorf Astoria and at other new York hotels. A it certainly does suggest its coming to a head a the news quoted an unnamed former Chrysler executive As saying. The Detroit free press reported saturday that White was expected to meet with a three person nominating committee of the Chrysler Board presumably to pick Iacocca a replacement. Chrysler spokesmen declined to even confirm a meeting was taking place. But a source said directors were being urged to keep silent about any decision until Chrysler revealed the new chairman with the requisite ceremony. Iacocca 67, has said he intends to retire from his 14-year reign at the Detroit automaker by dec. 31. Chrysler a Board met March 5 to discuss his replacement but did no to reach a decision. Chrysler has been wrestling with the question of a new successor since june 1990. Back then Iacocca postponed his planned retirement after heir apparent former vice chairman Gerald Greenwald resigned to Lead the unsuccessful buyout of Ual corp. Most frequently named As potential successors Are Chrysler president Robert a. Lutz 60, and Robert j. Eaton 52, a general motors vice president who Heads the company a profitable european opera tic it Eaton a record at pm in Europe would figure in his favor. Gmys european operations earned $1.76 billion in 1991 while pm As a whole posted a $4.5 billion loss. Business Eaton Germany technically in recession officials say from wire reports Berlin a economic statistics issued Friday reflected clearly the Cooling of Germany a a . Omy and resurrected questions Over country can finance its Domestic and Ini now the International initiatives. Taken As a whole 1991 looked like a robust year with 3.1 percent growth in Gross National product in Western Germany. By years end however the Economy was technically in recession the Federal statistics office said. Gnu contracted 0.5 percent in each of the last two quarters of 1991, compared with a year earlier the office said. The adjusted figures for 1991 confirmed earlier preliminary reports later statistics such As retail sales weren to any More  cigarette version Winston Salem . A in another Effort to revive Winston cigarettes the . Reynolds tobacco co. Plans an ambitious introduction of a different version of its flagship Brand that would be More like Marlboro which overtook Winston in the 1970s to become americans Best Selling cigarette. Winston select As the new version is named will be available nationally by Early May a spokeswoman for Reynolds  dirty tricks London a Virgin Atlantic airlines the Independent British airline has announced it has instructed its . Lawyers to sue British airways in the United states Over an alleged dirty tricks Campaign. Neither airline specified the exact nature of the dirty tricks alleged to have taken place at a time when Competition Between the British airlines and . Carriers for transatlantic passengers has intensified leading to a fare cutting War