European Stars and Stripes (Newspaper) - May 8, 1992, Darmstadt, Hesse                                Friday May 8,1992 the stars and stripes b Page 17 today a tip Southeast Asia led by Malaysia has become the fastest growing tourist Market in the world a study released wednesday said. The Boom in the Market will be fuelled by a 50 percent increase in the number of notel rooms in the Region from 85,000 last year to 125,000 in 1995, according to the study by accounting firm Kenneth Leventhal and co. Of los Angeles. The increase in hotels represents a $5 billion investment. Conversion rates London up a thursdays 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 $336.25 an ounce Silver at $4.05. May6 May 7 British Pound.1.7944 1.7959 German mark.1-6345 1.6370 French franc.5.5080 5.4955 bksder.1.8422 1 m20 belgian franc. S italian lira.1.2m.50 1,228.90 Swiss franc.1-5070 1.5100 greek  ii is turkish lira.6,624 80 6,62800 8�?=z4a Aswan schilling.11.5250 11.4900 norwegian krone.6.3980 6.3740 danish krone.6.3285 6.3120 these Are commercial rates and can be related Only to the use of foreign currency by . Forces for official business. The Only official rates apply to the Sale of German Marks and British pounds to . Personnel for personal use and these will be 1.59 Marks to a Dollar and $1.85 for a Pound through Friday based on thursdays noontime Price fixings. New York Exchange new York up York Stock Exchange Stock Reliance Al a Glaxo holdings Tel Fonos de my Caesars world in corp Ford motor co chemical Bank Chase Manhattan Rwjr Nabisco hid at amp to company ban America Chrysler corp Ark Lanc Gap inc Wal Mart stores nocal corp the 15 most Active stocks in new composite trading on wednesday. Sales last net Cha. ,125,700 20 a unch 5, 3.046.600 2.216.500 2.124.600 2,029,100 1,923,400 1.909.000 1.684.500 1.646.300 1.638.500 1,498,900 1.481.000 1.391.800 1.334.800 1.321.500 1.296.300 27 57 h 32 i 93 h 45 a 38 a 28 10 44 a 47 18 it 9% 40 a 51 25 up upyt up 2 a off up up up 1v unch up a off up a a unch off 1 a off a up american Exchange new York up the ten most Active stocks in american Stock Exchange composite trading wednesday. Stock us bios Clence inti Corona am exploration Alz corp Chambers Dev a Wang Labi inc b Echo Bay mines Enzo Blocher or foods inc carnival cruise 1,044,200 816,000 763,200 751.700 738,300 482.800 433.800 378.500 269.500 267.700 last 12 a 315-16 2% 44 a 7 4 6 5 a 6 29 net chg. Up 1v off 1-16 up Oft i up a up1/ up a up it unch off a Dow Jones new York up Dow Jones do Tang Range of averages wednesday 30 industrials 20 transport 15 a woes 65 stocks 339&fo 1421.90 215.57 1212.27 3346.60 1393.31 213.13 1192.65 3369.41 1407.70 21432 1201.79 Ofenge up 10.56 up 13.45 up 0.50 up 5.77 vow reports sales Bonn up the Volkswagen concern Europe a largest Auto manufacturer Sola 1.2 million vehicles worldwide bringing turnover to $13 billion in the first Auar Ter of the year senior officials of the group said. Money matters Federal Reserve Survey shows uneven recovery from wire reports Washington the nations Economy is showing further signs of reviving according to the latest Federal Reserve periodic Survey of National economic conditions. Manufacturing led the a a uneven growth in the . Economy the Survey reported As orders for machinery and electrical equipment increased and motor vehicle and steel production Rose throughout the nation. The fed also pointed to widespread growth in Home building and retail sales As evidence of a modest economic recovery. The report known As the a beige Book a was compiled from interviews with business contacts conducted before april 27. It will be used by Central Bank policymakers when they meet May 19 to discuss whether changes Are needed in interest rates. The fed last Cut interest rates april 9, when it lowered its target for the Federal funds rate the rate Banks charge each other on overnight Loans from 4 percent to 3.75 percent. Economist Robert g. Dederick of Northern Trust co. Said any additional interest rate Cut probably depends on whether the economic upturn spreads to labor markets and starts reducing the nations unemployment rate from 7.3 percent a 6vi-year High. A if employment is weak they May ease again. If its not they wont a he said. The picture drawn by the Survey is decidedly mixed Overall. The District Banks in Richmond Chicago Atlanta and Cleveland reported a noticeable improvement in their local economies the fed said. The Dallas St. Louis Kansas City mo., and Minneapolis District Banks reported moderate economic expansion. However san Francisco new York Boston and Philadelphia District Banks reported continued sluggishness the Survey said. Nationwide the Energy sector was a particular weak Point. On the other hand service industries that have played a big role in the slowdown of the Economy recently showed signs of revival. Tourism and convention activity picked up in several areas and the Southwest Region reported Quot Strong demand for lawyers accountants and consultants. The West coast and new England were hit by cutbacks in military procurement spending. Black owned firms Post Large gains from wire reports the nations 100 largest Black owned companies posted a 10.4 percent increase in sales last year despite the recession bringing their Revenue to $7.2 billion according to a Survey by Black Enterprise Magazine. The figures for 1991 represent a Sharp gain from the growth level of the previous year in which Black Enterprise reported a 5.2 percent sales increase for the top 100 Black owned businesses. Earl g. Graves publisher of Black Enterprise said the increase indicated a that we re coming out of the recession and that Black owned businesses have reached a Point of sophistication that we can overcome. Economic  nonetheless Many entrepreneurs said the recession had hit Many Black owned business especially hard. A fall businesses Are affected by the economic environment in which they operate particularly Small businesses a said Reginald f. Lewis chairman and chief executive of tic Beatrice International holdings inc., food processing and distribution company which is no. 1 on the list. Lewis company based in new York topped the Industrial service list for the fifth consecutive year. The food processor and distributor recorded 1991 sales of just Over $1.5 billion. Johnson publishing a publishing broadcasting and personal grooming products company with Headquarters in Chicago ranked second with revenues of $261.4 million in 1991. The Philadelphia coca cola bottling co. Was third with sales of $256 million. . Russell construction co., a construction and development company in Atlanta captured the no. 4 spot on the Industrial service list with sales of $143.5 million. Detroit based Barden communications a real estate development company and Parent of Barden Cablevision the largest Black owned Cable franchise in the nation was fifth with sales of $91.2 million. Garden state Cable to a Cable television broadcasting company in Cherry Hill n.j., took the no. 6 Slot with $88 million in sales. Soft Sheen products a hair car products manufacturer in Chicago was ranked seventh with $87.9 million in sales. Rms technologies which offers computer and technical services and is headquartered in Marlton n.j., took eighth place with $79.8 million in sales. Supermarkets complain that clubs Given Breaks business by the new York times the supermarket Industry is declaring War on what it Sayi special deals Given to its fast encroaching rivals Wareh s Are. A we a a a. Louse clubs. Supermarket operators complain that food companies like Ragu Are giving warehouse clubs special Price Breaks on the bulk packages that the clubs sell to members at bargain prices. A study by the food marketing Institute a supermarket Trade association said manufacturers were giving clubs Access to prices and Large packages that Are unavailable to supermarkets. The Issue has been simmering for years but has exploded in recent months with several angry supermarket owners kicking products out of their stores after pricing disputes with manufacturers. But retailing experts and food company executives say supermarkets Are missing the Point by focusing on pricing. Warehouse clubs like the Price club and Sam s club Are winning customers because their Bare Bones operations enable them to charge much less than traditional supermarkets. Prices at clubs Are often half what shoppers would pay in a regular supermarket Christopher Vroom an analyst with Alex Brown amp sons inc. In Baltimore said wednesday. Even the food marketing institutes study acknowledges that the main reason warehouse clubs can charge less is that they run such efficient operations. The report besides getting equal Access from manufacturers on a fall items prices deals and terms a suggests that grocers Cut costs improve logistics carry club sizes and expand into businesses like video rentals or take out pizza. The supermarket Industry is facing a difficult time. Sales barely grew last year and Wal Mart stores inc. And the Kmart corp., which operate warehouse club stores Are expanding some general merchandise stores into the food business. Philadelphia orchestra wants Cut of Disney film s profits from wire reports the Philadelphia orchestra which recorded the soundtrack for fantasia Walt Disney a classic marriage of symphonic music and animation filed suit wednesday against Walt Disney co. And Buena Vista Home video. The orchestra asserts that As a co creator of the work it is entitled to half the profits from the videotape and laser disk versions of the film. The lawsuit was filed wednesday in . District court in Philadelphia. Japan s surplus sets record Tokyo a Japan said wednesday its Trade surplus swelled by 62 percent to a record $113.4 billion in fiscal 1991, a trend economists attributed More to the world economic slump than to aggressive exports or closed markets. ,. The previous record was $101.65 billion in fiscal 19.86. The surplus is expected to reach another record in 1992, surpassing $120 billion. The fiscal year ends March 31. German production slumps Bonn Germany a Western Germany a Industrial production dropped 3 percent in March from february following two consecutive months of growth the economics ministry said wednesday. In the two month comparison which partly balances seasonal and other factors production in february March increased 2.5 percent from december january and 1.8 percent from the corresponding period in 1991. Figures for Eastern Germany Are reported separately