European Stars and Stripes (Newspaper) - March 25, 1992, Darmstadt, Hesse                                Page 20 c the stars and stripes wednesday March 25,1992money matter today s tip giant merger of ban America Security Pacific wins the approval was announced after the Ford motor co. On monday announced the recall of about 689,000 1988-91 Model Taurus and Sable cars to replace the front Brake rotors. The voluntary recall is limited to vehicles currently registered or originally sold in 14 states in the Northeast and great lakes Region. Severe weather conditions combined with Calcium or sodium Chloride Road salts May cause severe corrosion of the front Brake rotors the company said. Vehicles affected in the recall Are registered or were sold in Connecticut Illinois Indiana Maine Massachusetts Michigan new Hampshire new Jersey new York Ohio Pennsylvania Rhode Island Vermont and  rates London up a tuesdays 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 $337.75 an ounce Silver at $4.09 March 23 March 24 British pound1.71685 1.71935 German Mark 1.6655 1.6675 French iranc5.67000 5.63825 Dulch guilder1.8870 1.8771 belgian franc. 34.31 34 27 italian lira.1,256.60 1,251.00 Swiss Iran. 1.5155 1.5125 greek drachma. 194,22 193.20 turkish lira.6,192.80 6,196.20 saudi arabian nyal3.7502 3.7502 a Spanish peseta.105.76 105.07 portuguese escudo144.29 143.46 Canadian Dollar to .1969 1.1905 austrian schilling.11.795 11.734 norwegian krone6.580 6.544 danish Krone .6.5065 6.4750 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 1.62 Marks to a Dollar and $1.77 for a Pound through wednesday based on tuesdays noontime  York Exchange new York up Torvi Slock Exchange the 15 most Active stocks in new composite trading on monday. Slock Sale Tail net chg Glaxo holdings blockbuster ent 3,234,600 27v up 1 3,064,800 15 of a a Tele Lonos 0e my 1,961,000 58 up 1 vat amp to company 1.815,400 40 Cut a 1 a Boeing co t.707.700 43 Oil a Ford motor co 1.664,300 40 All a Nall med Eniti 1.458.900 141 unch Citicorp 1.369.100 171 a Oft v ban America 1.352,000 45 up i Chrysler corp 1.291.900 17 off chemical Bank 1,251.900 344a Oil ism corp 1.249.000 85 off ,5 waste Tyml inc 1,224.800 41 unch Placer gome inc 1,129.900 9 of Amoco corp 1,094,200 44 a off american Exchange new York Orpi a the 10 most Active stacks in american Slock Exchange composite trading monday Stock Sale last net chg Chambers Dev a 1.290.500 101 unch Amdahl corp 451,300 17 a of inti Corona 421.600 4 off furl of loom 375,200 36 up 1v, Plains resource 345,100 15 Oft new York Tir Riesa 333,900 31 of a us Bio science 263,700 16 off Nedman ind 266,200 3 up 1 a Americus disc 219,800 10 up a High Proff Eanls 210,300 10 unch Dow Jones new York up Dow Jones dosing Range it averages monday High Low Cuoio Chengos 30 industrials 3288 69 3249.33 3272.14 011 4 25 20 transport 1434.04 1408.63 1417.04 of 16.63 utilities 206 50 203.93 205.43 o110 69 65 stocks 1165.86 1169 56 1177.46 of 5 49 by Andrew Pollack the new York times san Francisco the Federal Reserve Board on monday approved the record breaking merger of ban America corp. And Security Pacific corp., which would create the second largest Bank company in the nation after Citicorp. The approval was the last major regulatory hurdle and clears the Way for the acquisition to be completed after a 30-Day period. The fed approval which came on a 7-0 vote after 2 a hours of deliberation is conditioned on Bank americans meeting numerous commitments it has made regarding divestitures financing and investment in Low income communities. Ban America californians largest banking company will buy Security Pacific the second largest in the largest banking merger in the nations history. The Stock Swap originally valued at $4.5 billion would be Worth roughly $5 billion based on Bank american a Stock Price monday of $45,625, up 37.5 cents for the Day. Security Pacific also Rose 37.5 cents to $39,875. New York up some Wall Street firms appear to be impervious to Tough economic times As illustrated by Merrill Lynch and co. Chairman a pay package of $16.8 million it was reported monday. The Wall Street journal said the 1991 pay package of William Schreyer the chairman of the nations largest brokerage firm contained salary and Bonus of $5.9 million and Stock options with an indicated value of More than $10.9 million. The newspaper said the combined $16.8 million is one of the biggest pay packages for a Wall Street brokerage executive. Schreyers pay More than qua Market had closed. The new ban America with about $190 billion in assets will Trail Citicorp of new York in that traditional measure of banking size but it will Tower Over its competitors in California As Well As being the largest Bank in Washington Arizona and Nevada. Analysts and banking Industry executives had expected that the merger announced last August would be approved but approval took longer than for some other recent Large acquisitions mainly because the proposed merger has raised antitrust issues. There was fear particularly in Washington state and Arizona that ban America would have too Large a Market share thereby limiting Competition. Reflecting the complexity of the issues the feds order approving the merger was an unusually Long 95 pages. A this has been the most extensively scrutinized merger in the history of our Industry a Bank american a chairman and chief executive Richard m. Rosenberg said in a statement. In february ban America reached a Druple from 1990, when he received $3.9 million. Merrill Lynch president Daniel Tully received a pay package that included $4.9 million in Cash in addition to Stock options of an estimated value of $9.4 million the journal said quoting a company proxy statement. Most of Merrill Lynch a executive officers did Well last year with 11 other top executives averaging $5.2 million apiece in compensation including Stock options the newspaper said. As salaries went up in 1991, so did the company a financial performance Merrill Lynch a earnings for the year jumped 263approval settlement with the Justice department agreeing to divest the combined Banks of 211 branches and $8.8 billion in deposits in five states to resolve antitrust concerns the feds order monday provides a breakdown of these divestitures by Market. It shows for instance that Banka Merica agreed to sell nearly $1.9 billion in deposits in the Seattle Market and $1.6 billion in Phoenix. Ban America which is based in san Francisco has said it Hopes to save $1.2 billion a year in operating costs by trimming redundant operations. Some of that saving will come by eliminating 10,000 to 12,000 jobs through dismissals and attrition. Ban America said monday that it expected to take a year to Combine the operations of the two Banks fully. One uncertainty is that Security Pacific which is based in los Angeles has suffered a series of losses because of bad Loans. Some analysts have questioned whether ban America which had its own loan problems in the mid-1980s, is taking on too much risk. But ban America officials insist the Deal is a Wise one. Percent to $696.1 million from the prior year and soared 463 percent in the fourth Quarter to $170.6 million from the same period in 1990. The increases in pay and earnings came Only a few years after the fallout in the late 1980s, when thousands of jobs were lost following the 1987 Stock Market crash. Schreyers package included the receipt of options for 300,000 Merrill Lynch shares which can be used in equal instalments Over four years the journal said. The shares have an estimated value of $11 million the newspaper said if the options were cashed in at the company a current Stock Price of $58, offers no fee plan to credit card customers Jacksonville Fla. Apr credit card customers can get an at amp to Universal card with no annual fee at 16,4 percent interest if they Transfer balances of More than $1,000 from higher rate cards at amp to announced monday. A Consumers Are interested in saving Money consolidating their debts and simplifying their financial lives a said Paul Kahn president of at amp to Universal card services. The offer is an attempt by at amp to Universal to increase the amount of debt that customers carry on the credit cards. Such debt carried Over month after month makes up much of the profits for credit card companies. At amp to is the nations third largest credit card issuer behind Citicorp and Chase Manhattan in total accounts and number of credit cards but lags far behind them in terms of debt owed. Quot our goal is simple a Kahn said in the statement first issued Friday. Quot we want to become our customers primary credit  a year after the Universal cards introduction at amp to in 1991 cancelled a no annual fee offer to new card holders and began charging them a $20 annual fee. At amp to which now has about 13 million card holders said it will announce shortly a program of a equal value to customers currently paying the $20 annual fee. Meanwhile at amp to and american express co. Have unveiled a new credit card designed for Small businesses that combines the at amp to corporate calling card with the american express corporate card. Merrill Tutton president of at amp to consumer services said the new card Isnit intended to compete with at amp to a Universal card which is aimed at Consumers. The new corporate link card a is focused Only on the Small business customer. It is a combination of what at amp to and american express have been doing in the past a Tutton said. Business do it yourself test for aids May go into Homes from wire reports Costa Mesa Calif. A a California company said monday that a Call to a toll free phone number and $44.95 could bring an aids test to your door but plans to sell the do it yourself version Are on hold pending clearance from the food and drug administration. A Shiv Home Check provides an a accurate Low Cost his in Home test a said health test inc. Of Costa Mesa Calif., which planned to sell the tests mostly to College students in California initially. A company representative goes to the Home of each purchaser to obtain a Small blood Sample which then is processed at a lab. The company said it intended to sell the test kit for people to obtain their own drop of blood for the test for $24.95 once the Fra was satisfied with the product. Results of tests for antibodies to the human immunodeficiency virus which causes aids will be available about a week later the company said. If a persons test was inconclusive the company said a doctor or Quot qualified Counselor would Contact the client and direct him or her to a physician for a More sensitive test at additional Cost. Top broker Drew $16.8 million