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Publication: European Stars and Stripes Sunday, March 22, 1992

You are currently viewing page 17 of: European Stars and Stripes Sunday, March 22, 1992

     European Stars and Stripes (Newspaper) - March 22, 1992, Darmstadt, Hesse                                Dollar watch shown below Are the highest Dollar Exchange rates for the week of March 16-20 compared with Dollar rates for the same period one year and five years ago. One Dollar would buy you sunday March 22, 1992 the stars and stripes Page 17 1.63 1.58 1991 1.84 1987 a military Exchange rate one Pound would Cost you 1.70 176 1.60 1992 i 1991 i 1987 Mihi Mumm Mumm one Dollar would buy you 34.51 1992 34.19 1991 38.35 1987 one Dollar would buy you 1.88 1992 1.85 1991 2.08 1987 one Dollar would buy you 569 s.65 6 12 1992 1991 l 1987 l one Dollar would buy you 19405 177.40 134.50 1992 1991 1987 one Dollar would buy you 1,261 1i230 1 309 1992 1987 Span amp a peseta one Dollar would buy you 129.23 105.91 102.38 1992 102.38 i 1991 l 1987 in urn one Dollar would buy you 6,087 1992 3,666 1991 775 1987 Money matters stocks make slight Advance despite turmoil in . Bonds new York apr stocks staged a modest Advance Friday despite considerable turmoil in the government Bond Market and powerful technical forces in the Stock Market. The Dow Jones average of 30 industrials gained 14.99 to close at 3,276.39. It was the seventh highest close for the Index surpassing the close of 3,275.27 on March 2, 1992. But the Index was below the All time record of 3,290.25 set March 3. For the week the Dow Index Rose 40.48 Points. Advancing issues outnumbered declines by about 6 to 5 on the new York Stock Exchange. Big Board volume was extremely heavy with 246.84 million shares changing hands As of 4 p.m., compared with 197.28 million in the previous session. The heavy volume was linked to the expiration of Stock options Index options and Index futures known on Wall Street As the a triple witching  the expiration in the past have caused dramatic swings in prices As traders sought to cover technical trading positions. For example an unusual number of Blue Chip companies reported trades of Large blocks of Stock in the sessions first half hour. That is usually a sign that Large institutional investors arc adjusting their Stock portfolios said Gene Mintz Deputy manager at Brown Brothers Harriman amp co. Stock prices were confined in a relatively narrow Range throughout the Day with the Blue Chip stocks or Large financially healthy companies staging a Small rally in the final hour. Paul Reynolds equities analyst for Thomson financial networks in Boston said Stock prices moved lower Midway through the session after Treasury Bonds yields began to Rise rapidly. Bofty yields were rising and prices falling on rumours that the congressional tax package would prove to be inflationary a trend that would Hurt the values of fixed income securities. Also the Philadelphia Federal Reserve reported a dramatic Rise in business sentiment in the mid Atlantic Region. Concern that rapid growth would Lead to inflation also Hurt Bonds said Reynolds. A when you see Bond yields shoot up like that the Market stands up and takes notice a said Reynolds. Quot there is still concern. That if rates Start to go up the Market is limited on the  leading the Nyser a list of actively traded stocks was american Telephone amp Telegraph up 44 at 40-m on heavy volume. The internal Revenue service awarded a disputed $1.4 billion computer contract to at amp to Over the objections of International business machines corp., and Lockheed missiles and space co. Later two analysts recommended buying of the company a shares. Other Active issues included Glaxo up v at 26 4 Rwjr Nabisco unchanged at 9-44 and Exxon Down is at 5444. On the american Stock Exchange Chambers development class a Stock fell Xhu at 10v& in Active trading following word that the securities and Exchange commission was investigating sell ing of the Chambers Stock last week. Shares of the garbage Hauler and Security company fell More than 65 percent on wednesday after announcing a special charge that Cut 1991 earnings to 3 cents a share from an initial forecast of 83 cents. Preferred health dropped 3% at 134ft after the company told analysts it expects 1992 earnings wont meet previous expectations. Proof needed in investment transfers by Bill Doyle q. My brother in Law is having difficulty changing the name on Stock and Bonds purchased by his wife in her name. She died a year ago. They had no children. He is named in her will As the sole heir. The Stock and Bonds Are both in the same company for which she worked. He tried to have her name taken off these investments and his name put on. No response. What must he do next a. He should be dealing with the Transfer agent for the Stock and the trustee for the Bonds. The names addresses and Telephone numbers of both Are listed in the company a annual report to stockholders. If he does no to have the company a address or phone number he can look it up in the reference Section of Many Public libraries. It stands to reason that he  expect the registered ownership of those investors guide securities to be changed just on his say so. He needs to prove he is entitled. He will be required to produce documents which can vary a bit from state to state but generally include the following a an assignment form a either on the Back of each Stock and Bond certificate or a separate a a Power a signed by the executor of the estate. That a probably him. A a certified copy of the court order naming the executor. A a notarized affidavit of domicile waiver listing his deceased wife a place of residence. A an inheritance or estate or both. He would be Wise to phone the Stock Transfer agent and Bond trustee to make sure exactly what is needed and what procedure to follow. When he sends the Stock and Bond certificates they should go by registered mail return receipt requested. Q. I had a Large Doyle amount of stocks that were taken. I have the numbers of All the certificates. To whom do i report this a. First off lets Hope you reported the burglary Holdup or whatever it was to your local police. There a always Hope the Crook will be caught and your Stock certificates returned. Past that you should arrange to obtain replacement certificates. To do that you must provide a lost Security affidavit and a surety Bond to each stocks Transfer agent. The affidavit attests that the certificates Are gone. A surety Bond costs about 3 or 4 percent of the stocks current Market value and protects the company just in Case the Stock shows up in the hands of a legitimate owner. Q. I purchased 500 shares of Stock about a year ago in a Bank that later failed. In december a brokerage firm formerly affiliated with the Bank and through which i had bought the Stock told me the Stock had become worthless. 1 asked for a letter stating that and was told a a you la not get that from  my husband made the same request of the Bank that has taken Over the failed Bank. He was told that although the Stock is worthless we should Send the Stock certificate to the Bank and they would Send us $1. I would rather Frame the certificate and keep it As a conversation piece. Can we take this As a tax loss even if i done to sell a. Yes a if that Stock has truly lost All its value in the marketplace. In that Case on schedule d of your form 1040 Federal income tax return you report a Zero sales Price As of dec. 31, 1991, the year in which it became worthless. You la have a capital loss equal to the total Price you paid for the Stock. A letter from a brokerage stating that the Stock lost All its value in the year for which you report the capital loss and saying that there is no bid for the Stock in any recognized Market is a Handy thing to have if the internal Revenue service questions your return. But it is not absolutely necessary. In your Case i would keep a log of the dates on which the broker and the banker said the Stock is worthless. Also hang onto newspaper clippings detailing the Bank failure. And never do business with that brokerage again. C King Foa Luros Syndicate Sterix Park ready for War with Disney a amps plainly France apr the director of Sterix Park which next month loses its status As Frances biggest theme Park says he is bracing for a War of survival against soon to open euro Disney. Inspired by genial gallic warriors of the Sterix comics the Park North of Paris has drawn an average of 1.4 million visitors a year since opening in 1988. Euro Disney to open april 12 West of Paris projects 11 million visitors in its first year of operation. Quot in the face of the euro Disney inva Sion its War a said Olivier de Bosredon director general of Sterix Park. Even such French landmarks As the Eiffel Tower should a defend themselves against the Competition of Mickey mouse a he told a news conference at his Park. A we have no Way of knowing if Disney will be a Success. No one has Ever done what they re doing in  the rivalry already has taken its toll. Coca cola has broken its commercial ties with Sterix Park in order to cooperate with euro Disney and de Bosredon said he has signed new accords with Pepsi cola and or angina. Sterix Parks financial backers include the hotel group accor the French division of Barclays Bank Eastman Kodak and Heineken. They have injected new financing into the operation and helped underwrite More than $3 million in improvements during the past year. The Park lost Money during its first two seasons but is now breaking even officials said  
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