European Stars and Stripes (Newspaper) - March 24, 1992, Darmstadt, Hesse                                Tuesday March 24, 1992 the stars and stripes b Page 17money matters the . Dollar gained slightly against the japanese yen monday boosted by economic recovery in the United states. The . Currency closed at 134.20 yen up 0.25 yen from its rate late Friday in new York and up 1.65 yen from its close in Tokyo on thursday. Financial markets in Japan were closed thursday for the Vernal Equinox National Holiday. Dealers said signs that the . Economy is on the Way to a recovery have kept interest in the Dollar firm. Expectations of a Cut in interest rates in Japan have also pushed dealers away from the yen and toward the Dollar. Conversion rates London up a mondays 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 $339.00 an ounce Silver at $4.13. March 20 March 23 British Pound.1.7000 1.71685 German mark.1.6840 1.6655 French franc5.6850 5.6700 dutch guilder.1.8855 1.8870 belgian franc.34.521 34.310 italian lira1,259.00 1,256.60 Swiss franc.1.5275 1.5155 greek drachma. 194.05 194.22 turkish lira6,183.30 6,192.80 saudi arabian rtyal3.7503 3.7502 Spanish peseta105.91 105.76 portuguese escudo144.45 1 44.29 Canadian dollar1.1975 1.1969 austrian schilling.11.8025 11.7950 norwegian krone.6.584 6.580 danish krone.6.5120 6.5065 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 German Marks and British pounds to . Personnel for personal use and these will be 1.63 Marks to a Dollar and $1.76 for a Pound through tuesday based on mondays noontime  winners contest tax cite 82 treaty Richmond a. Up an australian Syndicate that won a record $27 million Jackpot in the Virginia lottery contends the winnings should be tax free under terms of a 1982 treaty Between the United states and Australia. The state lottery department ordinarily withholds 4 percent of lottery winnings for Virginia taxes and 30 percent for Federal taxes. That is what it also intends to do in the Case of the lotto drawing won by the International lotto fund unless advised otherwise by the state department of taxation or the internal Revenue service. Questions about the identity of the Syndicate were satisfied by the australian securities commission Virginia officials said Friday Clearing the Way for the state to pay the first of 20 annual checks. The australian group which bought More than 5.6 million tickets in an attempt to cover All 7.1 million combinations in the feb. 15 drawing cited the 1982 treaty called the convention Between Australia and the United states of America for the avoidance of double taxation. Experts say Economy on Rise but fear recovery is fragile by Steven greenhouse the new York times Washington Federal Reserve officials say recent data indicate that the Economy is picking up steam but they remain worried that the incipient recovery could Peter out. In interviews last week two Federal Reserve governors said recent reports showing upturns in retail sales and housing starts were the most convincing evidence so far that the stubbornly persistent downturn was ending. But they also said that the manufacturing sector remained subdued and that employment growth was Likely to lag. A taken together the picture is pretty encouraging but it is not definitive yet a said David w. Mullins jr., vice chairman of the Federal Reserve Board. A there Are still concerns about  Mullins said that a few weeks ago Many economists were expecting a Flat first Quarter but he said recent data suggested that first Quarter growth a would squarely be in positive territory a although it would still be slow. He said a the pattern of data Bode Well for a stronger second Quarter and a return to moderate growth by  Many analysts say the recent positive data make it unlikely that fed officials would Cut interest rates in the near future because they think the fed no longer believes additional monetary easing is necessary to ensure recovery. Some fed officials have said they worry that the markets might View any additional cuts As inflationary. In an interview sunday on the Abc news program this week with David Brinkley Richard g. Darman director of the office of management and budget agreed that the Economy is recovering. A we in the administration Are assuming each Quarter throughout this year will be slightly better than the one before a he said referring to the growth rate of the Economy. A i think we can get 3 percent by the third and fourth  Darman added that at such a rate a we could have the Good Fortune of unemployment coming Down from its current level of 7.3 percent. He did not specify a level it might decline to. The governors also said this economic rebound would probably not be As robust As past recoveries partly because Consumers and businesses were still struggling to pare the Large debt they accumulated in the 1980s. This they said was holding Back spending and consumer Confidence. Another governor Wayne d. Angell said the Lack of economic synchronization among the states would help prevent a robust recovery. A a we be had Many quarters of recovery in Colorado but i done to know if we have had recovery yet in new England Quot he said. A California is kind of a soft spot with the cuts in  workers rally for Caterpillar strikers Peoria 111. Up More than 20,000 chanting Union workers marched through downtown Peoria on sunday and poured Money into a fund for United Auto workers members on strike against heavy equipment maker Caterpillar inc. Law president Owen Bieber called for an Independent mediator to help resolve the nearly 5-month-old walkout which has idled 10,800 workers. The marchers bused in from Detroit St. Louis Minneapolis and other cities across the Midwest rallied with balloons and placards outside Caterpillar Headquarters. A this dispute has gone on Long enough a Bieber said. A perhaps the time has come that a third party could be helpful in the  negotiations Are to resume wednesday for the first time since feb. 19, when the Union rejected what the company called its final contract offer. Workers Are seeking a pact to replace the contract that expired in september. The Union previously rejected a Caterpillar suggestion that a Federal mediator enter the talks. Bieber and Illinois Al Cio president Richard Walsh were among the top labor officials who chastised the company and painted the dispute As a test of the labor movements ability to survive. A we believe that involved motivated Well paid workers Given the tools and designs necessary to make High Quality world class products arc the solution a not the problem a Bieber said. A indeed we rally today for the future of our country.�?�. Bieber said the United states is losing its Edge in the global Market because firms in Germany and Japan Quot treat their work Force As an asset a not a liability. And they have governments that done to sabotage the Industrial strength of their own  a South african labor Leader Edwin a. Mae pc of the National Union of Metal workers said he was surprised by caterpillars stance. His Union represents Caterpillar workers in South Africa where he said american business has a a a progressive image. A i am surprised to come to know that there arc employers in America who Are backward a Malepe  drafts plan for uninsured residents by the new York times Minnesota legislative leaders have reached tentative agreement on a plan to extend Basic health insurance to uninsured state residents. A vote in the legislature is expected in the next three weeks and gov. Arne h. Carlson a Republican who vetoed an earlier version of the measure last year has said he will sign the Bill. About 35 million americans including 370,000 in Minnesota Are uninsured most of them people who Are self employed or work for Small businesses. About 30 states Are studying legislation to provide health insurance to those who do not have it. But Minnesota has come closer to enacting such a sweeping measure than any other state in the three years since Oregon created a plan to give coverage to All residents. The Oregon plan now awaiting Federal approval would expand eligibility for medicaid ration medical services and require employers to buy coverage for their workers. The Minnesota Bill would provide for the Extension of Basic coverage to about 200,000 people charging them varying amounts depending on their incomes. The state would help pay the premiums for those who earn lower incomes. Families of at least three earning no More than $30,000 would qualify for a subsidy. Premiums would be limited according to household size and annual income with a family of three or More being charged no More than 12.4 percent for a Premium. Those who Are currently insured but want to switch to the state sponsored plan have to be uninsured for at least four months before applying to the program. Basic coverage would include visits to a doctor preventive services such As prenatal care dental visits Eye care and prescriptions. Outpatient services not covered include orthodontic work and cosmetic surgery. Limited inpatient services would be added on july 1. 1993.business mortgage rates Advance now 9.03% for 30 years from wire reports Washington a the interest rate on 30-year fixed mortgages Rose to an average of 9.03 percent last week up from 8.88 percent the previous week and 8.85 percent the week before that the Federal Home loan mortgage corp. Said. The rate on 15-year fixed rate mortgages Rose to 8.69 percent from 8.51 the previous week and 8.48 percent the week before that. The rate on one year adjustable rate mortgages Rose to 6.22 percent from 6.04 percent the previous week and 5.99 percent the week before that. Siemens to Lead rail revamp Frankfurt Germany a Siemens a said it has signed a letter of intent to Lead a consortium of German companies to modernize the 300-mile Berlin Warsaw railway. Improving the rail connection will enhance Poland s ties with Western Europe and boost berlins old standing As a rail Hub now that Borders Are open. The Job will be Worth about $1.4 billion the company said. Mitsubishi boosts car prices Cypress Calif. Mitsubishi motor sales of America inc., citing recent Price increases by its competitors said it has raised prices on its cars sold in the United states by an average of 2 percent or $357. The increases went into effect sunday and do not apply to vehicles currently in dealer inventory