European Stars and Stripes (Newspaper) - April 11, 1992, Darmstadt, Hesse                                Saturday april 11, 1992 the stars and stripes a Page 17 Money matters the Boeing co. Said thursday that its delivery of 124 jetliners in the first Quarter of 1992 set a record for the commercial aircraft maker. The total in the period surpassed the previous nigh for a Quarter of 119, which occurred in the second Quarter of 1991, and compares with last years first Quarter deliveries of 91 aircraft. Noting that the delivery rate in the first three months of this year was unusually High the president of Boeing a commercial air plane group Dean d. Thornton explained that some air planes were produced in the fourth Quarter of 1991 to meet airline delivery requirements for Early 1992. He said the first Quarter a will turn out to be the Peak period for the  conversion 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 $341.00 an ounce Silver at $4.13. Apr 9 april 10 British Pound.1.7599 1.7728 German mark.1.6340 1.6230 French franc.5.5400 5.5010 dutch guilder.1.8405 1.8295 belgian franc.33.62 33.40 italian lira.1,234.35 1,225.00 Swiss franc.1.4985 1.4915 greek drachma.191.40 190.30 turkish lira.6,303.80 6,293.30 saudi arabian riyal.3.7500 3.7500 Spanish peseta.103.65 102.19 portuguese escudo.140.37 139.49 Canadian dollar.1.1908 1.1877 austrian schilling.11.5075 11.4325 norwegian krone.6.424 6.3770 danish krone.6.344 6.3040 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 $1.82 for a Pound and 1.58 Marks to a Dollar based on Price fixings Friday afternoon at military banking facilities. New York Exchange new York up York Stock exc Angr Stock Empress Lea first data corp limited inc Gap inc Ruri Rwjr Nabisco hid ism corp Glaxo holdings at amp to company Fedl Natl Mage general motors chemical Bank get corp Wal Mart stores Philip Morris Genf electric a Tow 15 mod Active stocks in new i composite trading on thursday. Shot lad Edcha. Uncan 6,782,900 20% 5,059,700 22v unch 4,169,200 24v off 2 2,644,600 40% off v. 2,368,900 9% up % 2,275,600 85% up % 2,235,900 27 up % 2,128,100 41% up 2,087,800 65% up 1% 1,939,300 38 up 1,926,600 30% up 1 1,807,100 29% up a 1,746,300 52% up 1% 1,726,700 75% up 1,669,600 74% up 1% american Exchange new York up the 10 mod Active stocks in american Stock Exchange composite trading thursday. Stack Salas lad Nick a. Us banknote 1,016,700 6% pvt to pm group web Amdahl corp 793,200 15 510,800 15 off % Fink of loom 497,600 35% up 2 Wang labs inc b 494,200 5 up off be Chambers Dev a 472,200 8% Espo Rinnan it 353,500 15% off % Ala corp 325,100 42% up 2% us Blos Clence 269,900 12v< up off % 0mi corp 266,800 5% Dow Jones new York up a new Jowe do Abig Range of swarm thursday a n _ 30 industrials 324518 3171.08 322498. 20 transport 1346.04 1302.50 1336.56 �36.99 15 a mass 204.16 200.05 203.12 up 2.38 65 stocks 1153.40 1124.31 1146.61 up 19.90 american plans to slash fares by up to half in new strategy by Dirk Beveridge the associated press new York a american airlines pounded by nearly two years of losses unveiled a fare strategy thursday that will Cost the Carrier millions in the Short run but is intended to eventually bring in More business. American one of the most influential pricing leaders in the business said the drastically simplified fare Structure will begin monday and mean cheaper fares for millions of travellers. Some fares will be reduced As much As 20 percent to 50 percent. Rival airlines were forced to match fares that Are sharply lower in Many instances. Americans chairman Robert l. Crandall said he is betting the move will increase traffic while allowing the airline to save $25 million a year by cutting administrative expenses and scrapping a Complex fare Structure that confuses and angers customers. A the system quite simply is broke a Crandall said at a news conference. A to have the future we want a for our customers our shareholders and our employees a we must fix  in the Short run american will lose $100 million this Spring As travellers take advantage of cheaper fares Crandall said. But in the Long run he estimated the plan could increase profits by some $350 million a year if it works. American said the plan includes first class fares that Are 20 percent to 50 percent lower with unrestricted coach fares that Are at least 38 percent cheaper than those now available. For example the flit Crandall Price of a new York to Chicago flight in coach would drop from $427 to $250 each Way. The Price of a Dallas to Boston flight would drop from $655 to $380 each Way. If enough people use the cheaper regular fares instead of going after discount tickets that would mean a higher amount earned for each mile a passenger is flown said George James chairman of airline economics inc., a Washington based aviation consulting firm. United Delta us air Northwest Continental Alaska airlines and America West said they would match the plan either completely or partially. Trans world airlines said it was studying the plan. The plan includes other changes a corporations and other groups that have in the past been Able to Cut deals with airlines of purchasing tickets in volume will find they must now pay the same Price As everyone else. A people who change their reservations or want a refund for full fare tickets will pay a $25 surcharge. In the past costs for handling those changes were shared by All passengers american said. A passengers who use seven Day or 21-Day discount Advance Purchase tickets will he Able to use them at a later Date if they cancel their plans bit they must pay a $25 charge. Big financial losses from the recession gave american an incentive to change the Way it does business and the demise of weaker rivals pan am Eastern and Midway made change easier to accomplish. Sales Rose modestly retailers say Washington up continued caution among Consumers and a late easter Selling period kept March sales gains modest the nations top retailers reported thursday. A Consumers Are still weary a said Philip Abbenhaus a retail analyst at . Edwards and sons inc. In St. Louis. A i done to think everyone is Back in the malls  among the three largest . Retailers Wal Mart stores inc. Came in again with the most significant sales increases. Its sales jumped 18 percent to $3.93 billion from $3.31 billion in March 1991. Wal Mart based in Bentonville ark., is the nations no. 1 retailer. In second place was Sears merchandise group based in Chicago. It said its total Domestic store sales Rose 3.6 percent to $2.08 billion in March from $2.06 billion a year earlier. Kmart corp., the nations no. 3 retailer with Headquarters in Troy mich., reported its March sales increased 4.7 percent to $3.14 billion from $3 billion in the same month last year. Abbenhaus said retail sales for the month were affected by restrained buying among Consumers and a late easter which is traditionally the biggest sales event in the first Quarter. But he added a the slight increases Are certainly a Good sign. It s better than  Ford chiefs earnings Cut by 6.6 percent in 91 by the new York times Ford motor co. Chairman Harold a. Poling took a 6.6 percent pay Cut in 1991, earning $1.14 million in salary and other compensation the company disclosed thursday. Although the base salary for the top five officers of the no. 2 automaker did not change in 1991 from 1990, cuts were made in non salary compensation such As allowances for overseas assignments and club memberships. No bonuses were Given to Fords top managers last year when the company reported a record loss of nearly $2.3 billion As the american Auto Industry experienced its worst year in history. In 1990, it earned a profit of $860 million. No other Ford executive earned More than $1 million last year according to the company a annual proxy statement. Philip e. Benton jr., president and chief operating officer received $752,452, Down 4.6 percent from 1990. The disclosures came just Days after the Chrysler corp. Said Lee a. Iacocca its chairman took Home nearly $3 million in salary Stock and other compensation in 1991, Down about 35 percent from 1990. General motors corp. Is expected to release its annual proxy statement next Tyreek. Although the United automobile workers harshly criticized Iacocca a Pav package the Union offered faint Praise of Fords move. A the lowered compensation paid to Fords top executives reflects overdue but still Welcome restraint a Union officials said in a statement. A it appears that Ford is taking an encouraging step toward a More responsible approach to executive  Ford also granted the same number of Stock options to top officers in 1991 As in 1990, at the exercise Price of $30 a share. Poling was granted 135,000 shares Worth $4.05 million at the exercise Price. Benton was granted 95,000 shares Worth $2.85 million. But none of the officers exercised the options last year the proxy statement said. Business digital computer company suffers $294.1 million loss from wire reports Boston a digital equipment corp. Reported a $294.1 million quarterly loss thursday and said a persistent computer slump might Force the company to embark on its third Cost cutting plan since 1990. Also thursday Intel corp. Reported higher first Quarter revenues but its profit fell o.6 percent As the top maker of microprocessor a a brains for personal computers Felt the effects of heavy Competition. Treasury Justice aides picked Washington a president Bush will nominate John c. Dugan to be assistant Secretary of the Treasury for Domestic finance the White House said thursday. Dugan is a Deputy assistant Secretary at Treasury. The White House said Bush also will nominate Timothy e. Flanigan to be assistant attorney general in the Justice departments office of general counsel. Both nominations require Senate confirmation. Dugan 36, is a graduate of the University of Michigan and Harvard Law school. Flanigan 38, is a graduate of Brigham Young University and earned a Law degree from the University of Virginia. Mastercard sales volume up Vancouver British Columbia a Mastercard International inc. Reported thursday a 12.5 percent in sales volume last year to $220.9 billion with much of the growth coming from overseas. New York based Mastercard which held its annual meeting in Vancouver said cards in circulation grew to 171.8 million a 6.8 percent increase Over 1990, while acceptance locations grew by 7.6 percent to 9.8 million