European Stars and Stripes (Newspaper) - April 30, 1992, Darmstadt, Hesse                                Thursday april 30, 1992 the stars and stripes Page 15money matters you be heard of 900 Telephone numbers and 800 Telephone numbers. On tuesday at amp to announced 700 numbers a a new class of a a lifetime Telephone numbers that stay with subscribers As they move from place to place. Experts said the new technology is kind of a glimpse at the future when pocket sized radio frequency telephones Are expected to be the communications device of Choice and when Calls go from person to person rather than place to place. The 700 service known As easy reach allows subscribers to let the Telephone network know where they Are at any Given time and to route Calls accordingly. The service works within the Mainland United  rates London up wednesdays rates for the . Dollar to Otner currencies. Figures Are expressed in dollars to the British Pound other local currencies in dollars Gold was quoted at $335 50 an ounce Silver at $3.93. April 28 april 29 British Pound.1.7750 1.7714 German mark.1.6535 1.6555 French franc.5.5990 5.5785 dutch guilder.1.8635 1.8610 belgian franc.34.05 34.08 italian lira.1,247.75 1,243.75 Swiss franc.1.5180 1.5250 greek drachma.193.94 1 93.60 turkish lira.6,567.00 6,573.00 saudi arabian riyal.3.7492 3.7488 Spanish peseta.103.90 103.88 portuguese escudo.139.51 139.39 Canadian dollar.1.1975 1.1940 austrian schilling.11.672511.6425 norwegian krone.6.4660 6.4570 danish krone.6.4105 6.3965 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 1.61 Marks to a Dollar and $1.82 for a Pound through thursday based on wednesdays noontime Price fixings. New York Exchange 2% growth in Economy hailed As sign of recovery new York up a York Stock Exchange the 15 most Active stocks in new composite trading on tuesday. Stock Salei Lait net chg. Nocal corp 2,431,300 25 up 1 up Glaxo holdings 2,410,000 26 Phillips in Hon 2,309,200 21 Oft Rwjr Nabisco hid 2,224,700 9 up Compaq computer 2,207,700 22 0ff1 Ford motor co 1,715,600 43 up Baker Hughes 1,692,100 20 up Bank America 1,492,900 45 Oft at amp to company Tel Fonos de my 1,483,800 43 off 1,457,800 56 Oft Amer express co 1,411,400 21 a a off Home depot inc general motors 1,363,500 61 off y4 1,333,000 40 up Philip Morris 1,328,200 78 up 1 Pepsico inc 1,312,200 34 up 1 american Exchange new York us american Stock Slock Chambers Dev a Wang labs inc b Amdahl corp metro Mobile b inti Corona Energy service Iva corp Hasbro inc Western digital Salomon Phi Bro a the 10 most Active stocks in Lange composite trading tuesday. Sales lest not cat. 6% Oft 3 15 22v4 3 1 25 25 4 3 621,900 538.400 465.200 353,600 343,000 286.700 286.400 254,300 242.200 205.700 off1 off off off Oft 1-16 up off off off up Dow Jones new York up Dow Jones dosing Range of averages tuesday 30 industrials 20 transport 15 utilities 65 stocks High 3329 83 1367 34 208 63 1 179 44 Low 327303 1337 63 205 87 1158 34 close 3307 92 1353 33 207 75 117081 Chang up 3 36 up 3 18 up 1 06 up 2 27 by the los Angeles times Washington the . Economy Rew at an annual rate of 2 percent in the first three months of 1992, the government reported tuesday providing fresh evidence that a modest recovery is in full swing. President Bush hailed the first Quarter gain in the Gross Domestic product a the Economy a total output of goods and services a As a signal that the longest running recession since world War ii May be ending. A most people would say that 2 percent growth is not recessionary a Bush said. In a separate Reading a widely followed private Survey showed that consumer Confidence surged in april As americans demonstrated More optimism about the Outlook for jobs and business. The report by the conference Board a business research group said its consumer Confidence Index jumped eight Points to 64.8 for a two month climb of 17 Points. The Index has a base of 100, established in 1985. While the Economy a expansion was Welcome by analysts some said it Falls far Short of the vigorous growth that typically follows a recession. Recoveries since world War ii have typically begun with 5 percent to 6 percent growth in the first 12 months. The modest growth from january through March probably is not enough to bring Down the nations unemployment rate from its 6v>-year High of 7.3 percent economists noted. And the growth was tempered by a separate report showing that sales of new Nomes declined 14.8 percent in March the biggest drop in More than 10 years. Even so the first Quarter growth rate was the Best since the 2.5 percent expansion recorded during the first three months of the Bush administration in 1989, and it followed a near economic standstill in last years fourth Quarter. The growth rate was boosted mainly by a healthy 5.3 percent increase in consumer spending the Best since the fourth Quarter of 1987. Spending Rose an especially Strong 18.3 percent for durable goods like automobiles appliances and Home furnishings. Among the other components housing construction surged 15.8 percent in the first three months accounting for nearly one fourth of the Overall Advance. This increase the largest in nearly six years took off at the Start of the year when mortgage rates hit a 19-year Low. Commercial construction declined at an 8.5 percent annual rate. Pm reverses Long string of losses by the los Angeles times Detroit a general motors corp. Reported its first quarterly profit in 18 months on tuesday a development that analysts say May signal the beginning of a Long awaited recovery for the . Auto Industry. The slim earnings of $179 million or 6 cents a share were a Sharp reversal from a string of historic losses. Pm said tuesday that the swing reflected the Impact of Cost cutting higher prices and modest sales gains in its troubled . Car and truck business. The gain comes amid the turmoil of a boardroom coup Plant closings and yet another corporate reorganization during the first Quarter. Although the company continues to lose heavily on its Domestic vehicles analysts said its Overall results illustrate the benefits of Cost cutting As it intersects with expected growth in the Economy and higher car sales. A these results evidence the beginning of a Domestic turnaround that could be very big a said Douglas Laughlin who follows the Auto Industry for Bear Stearns amp co. In new York. In Chicago pm chairman Robert c. Stempel said tuesday that the automaker will announce additional moves in the months ahead aimed at making pm More efficient. A the entire organization has to he lean a Stempel told a group of business news editors and writers in Chicago. A we cannot wait for the Economy to improve. We need to be profitable whatever the Industry volume. Late last year pm announced it would close 21 North american plants and eliminate 74,000 jobs by 1995 to Stem massive losses. But Stempel on tuesday would not say How much sooner the Plant closings and Job cuts would occur. Bush pushes War on legs that hamstring business Washington apr president Bush is extending a regulatory moratorium that the administration claims has saved up to $20 billion in red tape costs but that critics say has derailed dozens of health safety consumer and environmental rules. Bush in a speech wednesday was expected to announce a three month Extension of the 90-Day moratorium he announced Jan. 28 against regulations deemed unnecessary or expensive White House officials said. He also was expected to order a tighter review of regulations in order to Cut rules that create big costs for businesses. And officials said he would order that far More regulations be subject to scrutiny under a Cost Benefit analysis than currently required. Vice president Dan Quayle said tuesday the administration was planning a a More ambitious assault on  he said the moratorium already has saved american businesses Between $10 billion and $20 billion a year although outside groups said his figures were unsubstantiated. Bush has made deregulation a Centrepiece of his re election Campaign complaining that government interferes too much and is a drag on the Economy. Citizens groups say the moratorium has had an Adverse Impact on health safety and environmental programs stalling or repealing 50 regulations. The 50 regulations that have been delayed weakened or killed were in the areas of worker safety consumer health and safety food safety environmental Protection Auto safety human services housing health and safety product safety mining and endangered species consumer banking Protection and education the groups said. In recent Days the administration has announced a series of Steps to streamline regulations governing agriculture pharmaceuticals the environment and the financial Industry. Today Bush is expected to sign an executive order allowing state and local governments to sell to private investors facilities built with Federal funds such As airports. Regulatory analysts said the administration until recently has not paid much attention to reducing red tape. Business Sikorsky aircraft gets contract to build 300 Black Hawks from wire reports Stratford Conn. A Sikorsky aircraft on tuesday said it has received a $1.54 billion contract to build 300 uh-60 Black Hawk helicopters Over the next five years giving a much needed boost to Connecticut a battered defense Industry. Sikorsky said the production contract was its biggest Ever. Sikorsky will build 60 Black Hawks a year for the . Army through 1996. The army has an option to order up to 180 additional Black Hawks. The Black Hawk is a tactical transport helicopter designed to carry troops and weapons in an airborne assault function. Auction Date set for up Washington a a Federal judge on tuesday set May 12 As the Date for an auction Sale of United press International establishing a deadline on the search for new ownership of the worldwide wire service. Judge Francis Conrad who has controlled the Fate of up since it filed for chapter 11 bankruptcy Protection on aug. 28, 1991, said he will conduct the auction at his courtroom in Rutland it. Up lawyers earlier had asked Conrad to set the auction Date. They said it would Force parties who have considered buying All or part of up to make a decision. New 10-Pound note debuts London a the Bank of England unveiled a new smaller 10-Pound note tuesday with Charles Dickens replacing Florence Nightingale on the front. The note which is Worth about $17, was put in circulation on wednesday. It has the same Brown Orange color combination of its predecessor but is about a half Inch smaller on All sides. The Central Bank said the new size would be easier to handle