European Stars and Stripes (Newspaper) - April 24, 1992, Darmstadt, Hesse                                Friday april 24, 1992 the stars and stripes b Page 17 Money matters ban America corp. Said its merger with Security Pacific corp. Took effect wednesday in the largest combination Ever in . Bank in history. The $5 billion Deal took nine months to Complete and was reviewed by numerous Bank regulators in the . And 44 countries the Bank said. With about $200 billion in assets and $150 billion in deposits the new ban America is the nations second largest dominating the West with retail branches in 10 states. Only Citicorp with $217 billion in assets is larger than the new ban America. Conversion rates London up thursdays rates for the . Dollar to other currencies. Figures Are expressed in dollars to the British Pound other local currencies in dollars Gold we quoted at $338.50 an ounce Silver at $4.03. April 22 april 23 British Pound.1.7649 1.7869 German mark.1.6650 1.6600 French franc.5.6290 5.8185 dutch guilder.1.8755 1.8736 Belolan franc.34.22 34.17 italian lira.1,250.80 1,252.00 Swiss franc.1.5395 1.5415 greek drachma.194.87 194.40 turkish lira.6,528.70 6,528.70 saudi arabian riyal.3.7495 3.7495 Spanish peseta.104.36 104.29 portuguese escudo.141.84 141.24 Canadian Dollar.1.1806 1.1860 austrian schilling.11.7220 11.7150 norwegian krone.6.5120 6.5070 danish krone.6.4480 6.4400 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 $1.81 for a Pound through Friday based on thursdays noontime Price fixings. New York Exchange new York up York Stock Exchange Stock Citicorp Chase Manhattan Rwjr Nabisco hid ban America chemical Bank Glaxo holdings Tel Fonos Damn Gull St utile Bristol Myersq at amp to company blockbuster ent Bank of Boston Banc one corp Mana corp get corp a the 15 most Active stocks in new composite trading on wednesday. Solos 7.680.700 5.322.900 4.438.900 4,383,500 3.274.700 2.503.000 2.372.900 2,371,800 2.301.000 2,112,100 1.989.600 1,933,300 1,918,400 1.844.700 1.747.600 loot 19% 26% 9% 47 36 26% 59% 13% 72% 43% 15% 20% 44% 38% 32% notch. Up 1 % up 1 % unch up 2 up 1 % of1% up up off 1 % up up % up 1 % up 1 % up unch american Exchange new York up american Stock exc Stock carnival cruise spi holdings of Chambers Dev a fruit of loom Alza corp Wang labs inc Iva corp Amdahl corp pm group web Energy service a the ten most Active stocks in Lange composite trading wednesday. Saniei last net chg. 998,000 28% up % 864,800 5 of 632,100 8% up % off vie 590,500 36 522,900 43 unch 500,100 5% up % 417,700 25% of 373,100 16% up 354,100 15% up % 282,800 1 % up % Dow Jones new York up Dow Jones doing Range of averages wednesday 30 industrials 20 transport 15 utilities 65 stocks 336&f5 1361.92 209.00 1186.00 Low 3309.48 1332.96 205.68 1164.57 Cloeo 3338.77 1343.61 207.81 1174.82 change off 4.48 off 11.21 off 0.31 off 3.93 per capita income failing to keep up with inflation Washington apr americans per capita income in 1991 grew at the slowest rate since the Eisenhower administration and when adjusted for inflation actually shrank for the first time in nine years the government said wednesday. Personal income averaged $19,082 per person last year just 2.1 percent More than in 1990, the Commerce department said. That was barely More than half the 4.1 percent inflation rate As measured by the departments Index for personal expenditures. It was the first time since 1982 that growth in per capita income failed to keep Pace with rising prices and it was the slowest growth since per capita incomes Rose just 1 percent in 1958, a recession year. Last year six states registered income gains of 1 percent or less Rhode Island 0.2 percent Nevada and Maine 0.7 percent new Hampshire 0.9 percent and Idaho and Maryland 1 percent. Only seven states managed income increases equal to or better than the National inflation rate last year Wyoming 5.1 percent Montana and North Dakota 4.8 percent Hawaii 4.6 percent Louisiana 4.2 percent and new Mexico and slowing growth a its. Of titans Taito it constantly sliding sine 1986. 7-1% 6.9% the sluggishness was much More widely dispersed than in previous years. In 1990, 40 states reported slower income growth than in the previous year. Twenty five states reported a slowdown in 1989. The states with the five highest per capita incomes and the five lowest remained the same in 1991 As the previous year. The five highest were Connecticut $25,881 new Jersey $25,372 Massachusetts $22,897 new York $22,456 and Maryland $22,080. The five lowest were Mississippi $13,343 West Virginia $14,174 Utah $14,529 Arkansas $14,753 and new Mexico $14,844. Personal income is measured before. ,. A amps su9an Harris Arkansas 4.1 percent. Personal income is a the defense cutbacks arc having a big taxes but after social Security deductions Impact a said Rudolph e. Depass a and includes income from All sources. Commerce department analyst. A the nationally government employees re High income states in the 1980sported the strongest income gains 5.2 were generally All pretty heavily involved percent followed by service sector pm in the defense  Plo yees 4.2 percent. Still income growth was lower in 1991 construction workers suffered a 6.6 than a year earlier in All 50 states reflect percent income decline ing the scope of the recession that began economists predicted income growth in july 1990, according to Many econ would improve modestly this year As the mists. Economy recovers. Expectations lowered for world Economy Washington a the world Economy will struggle Back to growth this year but the rate will be just half what had been expected the International monetary fund said wednesday. The if blamed the poor expectation in the aborted upturn in the . Economy last fall which spread weakness in Europe and Japan and economic chaos in the former soviet Union. The if projected that the world Economy would grow at a meager rate of 1.4 percent this year. That compares with a 2.8 percent projection the if made just six months ago. The if said that it now believed a significant upturn in world economic growth will occur a year later than previously thought forecasting growth of 3.6 percent in 1993. However if officials conceded that there were risks that even their lowered expectations might not be met. They listed the key threats As persistently High interest rates in Germany and other european nations and a danger the japanese Economy will not rebound As anticipated because of such factors As jittery financial markets. The i mfg a revised Outlook was issued As world finance officials began arriving for the annual Spring meeting of the 156-nation if and its sister lending organization the world Bank. This years meeting was expected to be highlighted by membership approval for Russia and the other former soviet republics. For 1992, the if is forecasting Industrial countries will grow by 1.8 percent including a modest increase of 1.6 percent in the United states while the developing world excluding the former communist bloc nations will shoot upward at a 6.7 percent rate. The economies of the former soviet Union and Eastern Europe will continue in Sharp recession the forecast said with output plunging by 14.6 percent As inflation races ahead. Collection of penalties in a amp a cases criticized Washington apr the Federal government has a failed miserably in collecting millions of dollars in penalties from convicted savings and loan criminals a House banking subcommittee chairman said wednesday. A study of 19 people convicted in a amp a fraud cases found they collectively paid less than 1 cent on the Dollar in court ordered restitution said rep. Frank Annunzio Diu. Courts assessed More than $42 million in restitution against the 19 convicted men surveyed by the subcommittee. To Date less than $400,000 has been collected the panel said. The report places blame primarily on the Justice department and the Federal Deposit insurance corp., citing a disorganized collection  in four of the 19 cases the subcommittee blamed Federal judges for not immediately ordering restitution and for sometimes allowing the convicted men years to repay the Money. The Justice department however complained that the study was based on a a selective information collected by an Nunzion a staff that provided a an incomplete and inaccurate  the department said it had studied 59 cases not just the 19 cited in the study. Of that total �?o81 defendants were ordered to pay $124.8 million and there has been almost $23 million collected to Date Quot the department said. The Odic which was reviewing the findings did not address the study but defended its practices. Business Mcdonnell Douglas Revenue shows drop from year ago from wire reports St. Louis a Mcdonnell Douglas corp., conceding it will lose Money on its first c-17 cargo planes has reported first Quarter earnings of $52 million or $1.34 a share. The figures released wednesday were off 10.3 percent from earnings of $58 million or $1.50 a share in the year ago Quarter. First Quarter revenues for Mcdonnell Douglas the nations leading defense contractor were $4.14 billion off 2.2 percent from $4.24 billion in the year ago Quarter. Toyota says no to Rolls Royce London a Toyota said wednesday that it declined an offer to buy Rolls Royce motor cars inc., but British Parent Vickers pc said it is talking with several International companies about Selling the subsidiary. Drexel fined $2.5 million new York a the new York Stock Exchange on wednesday fined Drexel Burnham Lambert inc. $2.5 million its largest penalty Ever for the criminal activities _ in the 19 the estate. According to bankruptcy disclosure statements the nose is projected to get 22 percent of the claims face value or $550,000. That brought Down the 1980s Wall Street powerhouse. Nose now is a creditor to the Drexel bankruptcy