European Stars and Stripes (Newspaper) - April 9, 1992, Darmstadt, Hesse                                Page 18 the stars and stripes thursday april 9,1992money matter today s tip under heavy pressure from Bankers the Federal Deposit insurance clip. Board postponed an increase in its insurance premiums until next year when it Hopes to have a system to charge risky Banks More than Safe Banks. The chairman of the Senate banking committee Donald w. Riegle jr., d-mich., and other lawmakers had been pressing for an increase this year to ensure repayment of Money the Agency borrows from taxpayers. But Bankers and officials of the Federal Reserve and Treasury department have warned that raising the charges paid by Banks could Hurt their ability to make Loans needed to stimulate the economic  rates London up wednesdays 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 s338.50 an ounce Silver at $4.10. April 7 a polls British Pound.1.75035 1.74740 German mar.1.6245 1.8275 French franc.5.5200 5.5065 dutch guilder.1.8335 1.8294 belgian franc. 33.51 33.52 italian lira.1,230.45 1,228.70 Swiss franc.1.4975 1.4935 greek drachma.190.85 190.59 turkish lira.6,251.60 6,260.60 saudi arabian rtyal.3.7502 3.7502 Spanish peseta.103.43 103.28 portuguese escudo.139.24 139.52 Canadian Dollar.1.1895 1.1882 austrian schilling.11.460 11.432 norwegian krone.8.391 6.383 danish krone.6.319 6.304 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 1.58 Marks to a Dollar and $1.79 for a Pound through thursday based on wednesdays noontime Price fixings. New York Exchange new York up York Stock Exchange Slock waste mgt add Shawmut Natl general motors adv Micro docs at amp to company Tel Fonos de my Rwjr Nabisco hid Glaxo holdings ism corp Pep boys Ford motor co Battle Man Gold Archer Daniels Fedl Nad Mage get Cor american Exchange new York up the 10 most Active stocks in american Stock Exchange composite trading tuesday. Stock Chambers Dev a Wang labs inc b pm group web us Bio science exsport Tynan it fruit of loom magma Copper co Hasbro inc Echo Bay mines inti Corona the 15 most Active stocks in new i composite trading on tuesday. Idea Leal Notta. Unch 7,538,500 21% 3,590,900 12v� 0 1% 3,540,300 37% up 1% off 1 % 3,293,000 17% 3,211,900 42 up % 2,785,600 54% 0�1% 2,301,600 9% off % 2,075,300 26% of�1 1,926,400 82% Ort 1,912,600 21% off 1 1,796,500 39% off 1,741,800 6% off % 1,659,000 24% of 1,580,700 63 0 11% 1,460,000 29% off sate last net Chol. 920,300 8% of 564,800 5% unch 488,500 14% up 1 451,400 12% off 378,400 14% up 1% 341,000 34% off % 281,300 9 of % 273,200 25 unch 259.000 6% off % 242,200 3% of Dow Jones new York up Dow Jones dosing Range of averages tuesday Hal Law Ctm 30 industrials 329v59 3207.51 3213.55 20 transport 1358.93 130811 1312 22 15 utilities 203.99 201.18 202.30 65 stocks 1186.05 1134 05 1137.14 Olini of 61.54 off 41.11 Oft 1.19 Oft 23.83 living standards threatened by budget Gap expert warns Robert d. Reischauer by the los Angeles times Washington a the nations chronic growing budget deficit threatens to lower american living standards in the next decade and a there is no Relief in sight a the director of the congressional budget office warned tuesday. Co chief Robert d. Reischauer and two of his predecessors painted a grim picture of . Growth prospects at the Start of the new Century during testimony before a House banking subcommittee. Although recovery from recession will help to lower red Ink spending temporarily the underlying deficit will Start climbing again to $423 billion and Public debt will double to $6 trillion by 2002, Reischauer predicted. Rudolph g. Penner former head of the co who is now director of economic studies for the peat Marwick accounting firm said the a exploding Cost of health care would drive up Federal budget deficits after the Middle of this decade despite an economic rebound. A ultimately significant cuts in Federal program spending and increases in tax revenues will be required. But the political a file barriers to their adoption have been largely insurmountable. I think that we have to give our leaders More Power to impose painful solutions on their followers a he said. Alice m. Rivlin the first co director who is now a visiting professor of economics at George Mason University in Fairfax va., gave a similar analysis of a triple digit  a the real problem is that such deficits gnaw at the Standard of living and slowly reduce its growth a she said. A if americans Are to live better in the future they need to save More and Channel those savings into productivity enhancing investment. A if instead they continue to use their relatively Low private savings to finance ongoing expenses of government they Are Likely to get Low investment stagnant productivity growth continued Trade deficits and growing obligations to Send interest dividends and profits  in his analysis Reischauer said an upturn in the Economy and income from Sale of assets of failed savings and loan associations would diminish the deficit in the next several years but an underlying mismatch Between revenues and spending would hobble economic growth afterwards. Rich get More tax Breaks study says by Cox news service Washington Federal tax changes Over the past 15 years have benefited wealthy americans far More than lower income earners according to a study. The study was funded by a amp a Block inc., the nations largest tax preparation company. Thomas m. Bloch president and chief executive officer of a amp a Block said the figures Point to an inequitable tax system that needs to be corrected through tax credits aimed primarily at. Low income and Middle class americans the people who make up the bulk of the company s customers. The study released tuesday shows that Between 1977 and 1990 the effective income tax rate a the rate people actually pay after taking various deductions credits and exemptions a fell 1 percent for people earning $25,000, 4.3 percent for those earning $100,000 and 10.7 percent for people earning $200,000 per year. Bloch said his company a study performed on a $10,000 contract for the company by the University of Missouri shows that the tax Burden is being shifted increasingly from the Rich to Middle in come taxpayers. A i think its by design a said Bloch whose company prepares tax returns on a fee basis. The . Tax code underwent a number of revisions during the �?T80s, including a massive overhaul in 1986 that reduced the number of tax rate categories to three. Depending on their earnings americans Are now taxed at either 15 percent 28 percent or 31 percent of their taxable income. Rep. Richard k. Armey a Texas disputed the Basic Contention of the study and said the company had a business in Terest in policies that Call for changes and complications in the tax code. A i frankly have grave reservations about the accuracy and Validity of the a amp a study a Armey said. A Champ a Block is hardly a disinterested student of the  Armey said the Republican research team on Congress joint economic committee found that in 1988, the wealthiest 1 percent of american taxpayers paid 28 percent of the total taxes compared with 1981, when they paid 18 percent out of the total taxes paid. In 1988, the wealthiest 10 percent of . Taxpayers paid 57 percent of the total taxes Armey said. And in 1981, the wealthiest 10 percent of americans paid $118 in taxes for every Dollar paid by the Bottom half of the income Range while by 1988, that figure had More than doubled to $240.czech Beer firms face privatization decisions Prague Czechoslovakia up a As thirsty palates across the world await developments Czechoslovakia a two most prestigious Beer makers Are involved in plans to privatize the state owner companies. Pozensky Pivovar Czechoslovakia a largest Premium Brewer is sought by two of the Netherlands biggest Brewers Heineken and the de Groen family makers of Gro sch Beer. And Meg Brewer Anheuser Busch based in St. Louis mo., wants to buy into czechoslovak Brewer Bude Novicky Budvar. The . Company the worlds largest Brewer is seeking a 30 percent share of the czechoslovak Beer concern. Pozensky exports under the labels Pilsner a quell and Gambrinus and is to be privatized As part of Czechoslovakia a massive Effort to turn $10 billion of state owned Industry Over to private hands by the end of 1993. De Groen originally invited by Czechoslovakia a most famous Beer Lover president Vaclav Havel to invest in czech breweries had proposed taking a 3 percent stake in Pozensky Pivovar. But when late last year the czech government decided its prize breweries could not be sold to foreigners the de Groen project was scotched. Workers and a new management team favored a czechoslovak financed bid that would give Heineken exclusive foreign distribution rights but keep it from owning a share in the brewery. But now Pozensky Pivovar a workers have threatened to strike after czechoslovak privatization minister Tomas Jezek said he backed the de Groen plan. Business drug firm penalized for medication violations from wire report Baltimore a generic drug maker super pharm corp. Was fined $1 million tuesday after pleading guilty to shipping adulterated and unapproved medications. Super harm based in Bayshore n.y., pleaded guilty in . District court to four counts involving three drugs said Richard Bennett . Attorney for Maryland. Two of the charges involved shipments of two adulterated drugs quinidine Gluc Onate which is used to control irregular heartbeats and Doycy Cline hyc late an Antibiotic. Chairman is Well paid Washington a general dynamics chairman William Anders will receive up to $4.5 million in salary bonuses and Stock related Perks under a new executive Bonus program. The defense corporation said that Anders will get $800,000 in base salary $700,000 More in Cash incentive awards As Well As deferred Stock and Stock options that could be Worth As much As $3 million