European Stars and Stripes (Newspaper) - May 11, 1992, Darmstadt, Hesse                                Monday May 11, 1992 the stars and stripes a Page 17money matter today s tip american airlines considers buying into Kim paper says Nike inc. Said its International sales topped $1 billion for its current fiscal year with nearly a month before the fiscal year is closed out. Nike said its International sales represent a third of its business and Are currently nearly As Large As the entire company produced four years ago when annual sales were $1.2 billion. A when we founded Blue ribbon sports Nike a forerunner in 1964, the idea of annual sales of even $500,000 was a dream that took eight years to realize a Nike chairman Philip h. Knight said in Beaverton Ore. Richard k. Donahue Nike president said the upward trend of foreign sales should continue. A we have for a Long time recognized that the future for the Brand lies in investing in our business globally a he said. A at the current rate Nike International will generate half of Nike  revenues a and profits a by 1996, when we Are on track to be a $6 billion  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 $336.00 an ounce Silver at $4.12. May 7 May 8 British Pound.1.7959 1.7889 German mark.1.6370 1.6455 French franc.5.4955 5.4925 dutch guilder.1.8420 1.8373 belgian franc.33.66 33.61 italian lira.1,228.90 1,229.00 Swiss franc.1.5100 1.5625 greek drachma.192.23 192.22 turkish lira.6,628.00 6,645.90 saudi arabian riyal.3.7488 3.7488 Spanish peseta.102.19 102.05 portuguese escudo.136.50 136.29 Canadian dollar.1.1965 1.1990 austrian schilling.11.4900 11.4775 norwegian krone.6.3740 6.37 danish krone.6.3120 6.3030 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 $1.84 for a Pound through monday based on fridays noontime  to expand in Germany Cincinnati a Procter amp Gamble co. Is buying the remaining share of a German joint venture business to expand its participation in the pharmaceuticals Market in Germany the . Company said. Procter amp Gamble will buy the share held by Roehm a Mph of Darmstadt Germany in Roehm pharma the companies announced but refused to reveal the Sale Price. Procter already owns 50 percent of Roehm pharma. Under the agreement the Cincinnati based company will take Over the prescription drugs vaccines and diagnostic products business while Roehm pharma a Industrial coating business will be returned to Roehm a Mph. The Sale is subject to approval by Roehm shareholders and the German government. Roehm pharma has annual sales of $125 million primarily in Europe from pharmaceuticals vaccines diagnostic tests and Industrial coatings. London apr american airlines is talking to Kim Royal dutch airlines about buying a minority stake in the Netherlands National Carrier and creating a global partnership the sunday times reported. Such a Deal could bring american into direct Competition with British airways. The newspaper recently reported that British airways has been discussing its own merger with Kim which would create the worlds fourth largest airline and the largest in Europe. By Alan Yonan or. Up business writer Washington Japan will replace the United states As the worlds no. 1 manufacturer by the mid-1990s and As the worlds largest Economy by Early next Century if current trends continue an expert on the japanese Economy has told members of Congress. Japan is building its economic Edge by out investing the United states in new plants and equipment in increasing amounts since 1980, said Kenneth Courtis senior economist for the asian division of Deutsche Bank capital markets. Japan a Economy As measured by Gross Domestic product is now 60 percent the size of the United states Courtis said Friday. A should current trends continue i expect Japan to become the worlds no. 1 manufacturing Power by the mid q Many Mutual funds pay annual dividends at the end of the year. What would be the difference in dividend if i invest in a fund in april june or october a there will be no difference in the amount of the dividend no matter what time of the year you buy Mutual Hind shares providing you make the Purchase before the sex dividend Date. Dividends Are paid to shareholders whose names appear on a hindus books on the dividend record Date. At most Mutual Hinds the record Date and the a dividend Date Are the same business Day. In this contest a a exp Means  fund shares you buy after the sex dividend Date Are not entitled to a dividend. Also on the sex dividend Date the dividend is automatically deducted from the share value. Lets say you buy 1,000 shares of Xyz Mutual fund and Xyz declares a i per share dividend payable to shareholders of record dec. 20. You la get a $1,000 dividend if your Purchase was made on dec. 20, just the same As you would if you bought the shares much earlier in the year. Here a warning Flag must be waved its not smart to buy Mutual Hind shares shortly before a dividend is to be paid for the reasons spelled out in the following answer. Q a Mutual fund Salesman says he can inform me when his company a fund will pay a dividend. He suggests i buy fund through Kim British airways also would gain a Large minority stake in Minneapolis based Northwest airlines giving it Access to internal . Outlets. The sunday times said fort Worth Texas based american is believed to have approached Kim recently about its plan which it Hopes will help it fend off Competition from rivals Delta air lines and United airlines. The newspaper quoted unidentified Industry sources As saying american is ready to pay a High Price for a minority 1990s and surpass the United states As the worlds largest Economy in the next decade a Courtis told members of the joint economic committee. A that would perhaps leave the United states As the worlds leading political Power but would mean America would have slipped to second place As a world economic Power a Courtis said. A when measured on a per capita basis which analysts agree is the most appropriate base of measure the investment Gap takes on its full critical importance a he said. Japan invested $5,320 per capita in 1991, while the United states invested $2,177, Courtis said. A when measured on a total population basis that Means that the investment Gap was an enormous $794 billion in 1991,�?� he said. Japan a total investment in private sector plants and equipment from 1986 to the end of last year exceeded $3 tril shares in time to get the dividend. Is that Wise a no its just the other Way around. That suggestion is called a buying dividends and is most unwise because of the tax consequences. The amount of the dividend is included in the Mutual binds share value until the sex dividend Date when it is deducted from the share value. You have to pay income tax on the dividend. Depending on your Federal income tax bracket the current tax bite is either is 28 or 31 percent meanwhile the value of your shares drops by 100 percent of the dividend. If you follow that fund pedal Era a advice you re a loser. Q How can i learn which Mutual funds pay dividends annually and which pay quarterly a you la find that information in a number of financial manuals at brokerage offices and Many Public libraries. The fat Wiesenberger investment companies service Book probably is the most frequently used. Besides those paying annually and quarterly an increasing number of my stake in Kim. American reportedly secs Schigol International Airport in Amsterdam Netherlands As the perfect Hub for its expanding european operations. American recently paid $500 million for trans world airlines British routes. Robert l. Crandall chairman of americans Parent company Amr corp., a is acutely conscious of competitions from his Atlanta based rival Delta air lines the sunday times reported. Lion with another $500 billion going to research and development Courtis said. A it is this massive investment that has been critical to the strategic repositioning of the japanese Economy since the mid-1980s and which despite the present recession positions Japan to continue to have the fastest growing Economy in the Recd organization for economic cooperation and development through the 1990s,�?� he said. Although Domestic consumption has dropped since Japan slipped into recession the country a commitment to investment has allowed it to continue expanding exports Courtis said. A indeed rather than the current recession announcing the eclipse of Japan As an economic superpower a he said a analysis of the deeper Long term forces at work in the Economy suggests that the effect of the current transition will be to set the Economy on track for a new period of explosive  Tual binds pays dividends monthly. Those Are generally a income binds a which hold As investments Bonds other interest paying debt securities and High dividend producing stocks. The internal Revenue code forces Mutual binds to pay out virtually All of their income. Under the a conduit theory of taxation the bind does not pay income tax on its income. Instead it passes that income and the tax obligation on to its shareholders. Q i began investing in a Mutual fund last year and have reinvested my dividends and capital gains distributions. I was shocked when the accountant who prepared my 1991 income tax return told me i had to pay income tax on the dividends and capital gains. Why. I never received the dividends and capital gains. A but you had the Choice of either receiving checks or reinvesting the dividends and capital gains distributions to buy additional shares. As far As the tax Laws arc concerned your reinvestment action was no different than if you had the checks sent to you and then turned around and wrote new checks to buy More bind shares. This comes As a Shock to Many firs time Mutual fund investors who obviously do not read the part of their binds prospectus where the tax situation is explained. Pace of investment May let Japan surpass . As economic Power investors guide investors should note sex dividend Date