European Stars and Stripes (Newspaper) - May 14, 1992, Darmstadt, Hesse                                Thursday May 14, 1992 the stars and stripes c Page 15money matters today a tip wholesale prices Rose 0.2 percent in april As a big drop in vegetable prices helped offset higher gasoline costs the . Labor department said tuesday. The government said that through the first four months of this year its producer Price Index which measures inflation before it reaches Consumers was rising at an annual rate of 1 percent. April was the third month the Index Rose 0.2 percent. The increase in Overall wholesale prices was lower than expected. Many analysts had worried that a spurt in Energy prices would push the Index  rates London up wednesdays 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 $335.25 an ounce Silver at $4.09. May 12 May 13 British Pound.1.8123 1-5115 German mark.1.6280 1.6220 French franc.5.4775 dutch guilder.1.8357 1 -8175 belgian franc.33.55 33.39 italian lira.1.227,50 1,217 30 Swiss franc.1.5110 1.4955 greek drachma.192.45 190.70 turkish lira.6,674.60 6,658.70 saudi arabian riyal.3.7490 3.7492 Spanish peseta.101.85 100.77 portuguese escudo.137.75 134.09 Canadian dollar.1.2043 austrian schilling.11.480 1t365 norwegian krone.6.362 6.296 danish krone.6.3915 6.2300 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 1.58 Marks to a Dollar and $1.86 for a Pound through thursday based on wednesdays noontime Price fixings. New York Exchange new York up the 15 most Active stocks in new York Stock Exchange composite trading on tuesday. Stock Tel Fonos de my limited inc Saatchi Saatchi Brunswick corp coca cola co Cooper kinds inc Duke Power co Citicorp Chrysler corp fed Natl Mage at amp to company gent electric Philip Morris oct rant petrol Wal Mart stores american Exchange Sain lift Natch. 7,503,100 56% up % 6,216,300 21% off 2% 2,926,300 1% unch 2,178,300 16% unch 1,944,100 42% up % 1,921,900 47% unch 1,628,600 34% off % 1,619,100 18% off % 1,538,300 18% up % 1,454,500 65 up 1% 1,419,800 43% unch 1,407,400 79 off % 1,374,200 78% off % 1,348,100 20% off % 1,343,700 53% up % american Stock Stock expo rate co la Sbarro inc Hil Haven corp Chambers Dev a carnival cruise Western digital Wang labs inc b us bios Clence Plains resource Ivan corp up exch a the 10 most Active stocks in Iange composite trading tuesday. Salei last Nat chg. 680,800 1 up % 524,800 27% off 10% 495,300 2% up % 416,400 8% unch 402,500 29% unch 338,500 4% up % 273,000 4 unch 258,600 12% off 1 258.200 16% up 1% 219,100 26% off 1% Dow Jones new York up Dow Jones closing Range of averages tuesday 30 industrials 20 transport 15 utilities 65 stocks High 3414.63 141738 21461 121393 Low 3361.33 1391 79 212 48 1195 02 close 3385.12 1406 92 213 42 1204 38 change Oft 12.46 up 4.64 on 0 46 off 1 57 Bank fees to covers amp a debts Likely to be increased again Washington a seeking to replenish the nations Bank insurance fund Federal regulators proposed raising premiums paid by Banks and savings institutions by an average of 22 percent. Bankers criticized tuesdays action by the Federal Deposit insurance corp., saying they have had to pass on previous Cost increases to customers As higher fees higher loan rates and lower Deposit rates. They also said rising insurance premiums Are eating into profits already Hurt by the recession. But the chairmen of the House and Senate banking committees said the increase will ensure that the Bank financed Odic repays the billions of dollars it is borrowing from the Federal government to help cover the costs of closing failed savings and Loans across the nation. A conditions in the banking Industry Sug est that they Board members could not ave done otherwise a said rep. Henry Gonzalez a Texas. He said the increase should have become effective july 1, rather than delayed for six months. A i am a firm believer that the Industry must shoulder this Burden not the taxpayer a said sen. Donald Riegle jr., a Mich. The proposal would raise average fees paid by Bank and savings institution from 23 cents per $100 of deposits to 28 cents effective Jan. 1. The Odic Board took the action in 3-2 votes. If formally adopted As expected later this summer the Premium increase would be the fourth in four years for the nations 12,300 Banks. It would More than triple the 8.3 cents charged in 1989. Bankers and Bush administration officials had lobbied for a delay but Odic chairman William Taylor said a the information in front of us. Is  the Board also voted 5-0 to solicit comment on a proposal to vary the insurance rate according to the riskiness of each institution. If the new rates and the new risk based Premium system Are approved the safest Banks would pay 25 cents per $100 of deposits next year and the Riskiest Banks would pay 31 cents for an Industry average of 28 cents. Two Treasury department officials on the Odic Board a the director of the office of Thrift supervision Timothy Ryan and the acting comptroller of the currency Stephen Stinbrink a had sought to hold the proposed average rate to 27 cents. But they were outvoted by the three Independent Board members led by Taylor. Stinbrink and Ryan pointed toward recent improvement in the conditions of the Thrift and banking industries and also noted that the governments Cost of handling failures was declining. But other members noted the Odic fund has dropped from $18.3 billion at the end of 1986 to an estimated deficit of $7 billion at the end of 1991. Legislation enacted last year allows the Agency to borrow up to $75 billion from the Federal government and repay it within 15 years. The proposed Premium increase would boost collections from Banks from $5.4 billion this year to $6.6 billion next year. Collections from a amp is would increase from $1.8 billion this year to $2.1 billion next year. After malt liquor Flap company tries again by the Baltimore Sun first there was Power master a High Al Cohol malt liquor criticized for allegedly targeting the Black Community and for a name that implied it was a Strong intoxicant. G. Heilman brewing co., the maker of Power master pulled it from the Market in july after a few weeks when the Bureau of alcohol tobacco and firearms said the name ran afoul of a Law prohibiting the promoting of a Beers strength on its Label. Now Heileman is Back with a new malt liquor called Colt 45 Premium. The problem is that it is in virtually the same style can As the old Power master and Many of the same controversies Are dogging the company. A the can of the new malt liquor Fea Tures a red horse on a Black background As did Power master. But there the similarity ends the company says. A the Only thing that is the same is the Ink on the can a said Charles e. Powell vice president of marketing for Heile Man which is based in la Crosse wis. A we done to compare it to  Powell said the company used the same packaging design As Power master to save Money. He  say How much such designs Cost but added a it is a significant sum of  the cof Spany also issued a statement tuesday attacking a Wall Street journal article monday. A despite telling the Wall Street journal reporter that the products were different the reporter chose to report incorrect information a Heileman said. The company also said the articles reference to the product As Quot High Firo Power Malta was a false and  Powell said Colt 45 Premium is a different product from Power master but he would not say what the alcohol Content of the new malt liquor is or what the strength of Power master was. According to published reports Power master had an alcohol Content of 5.9 percent about one third higher than most other malt liquors such As Chile Many a Colt 45, which has an alcohol Content of 4.5 percent. The alcohol Content of most regular Beers ranges from 3.2 percent to 5 percent. Fast growing Mega store Heads for . Opening by the new York times British entrepreneur Richard Branson said tuesday that he plans to open los Angeles largest record store next fall in the first . Venture for his fast growing Virgin Mega store division. A it will be three times As big As that of our nearest competitor a he said of the store to be located in a shopping mall on Sunset Boulevard. The store will have 30,000 Square feet of space compared with the 10,000-Square-foot los Angeles store of his major rival hmm a British retailer also known As his majesty a voice. The Virgin Mega store division already has 30 stores in Australia Japan and Europe including Frankfurt Germany. Founded in 1971 when Branson was 20, the Mega store group has expanded rapidly in the last two years with most of the growth on the continent and in the far East. Its store in Paris on the champs-�lys6ec has More than $125 million a year in Revenue. Branson now 41, said that represents one of the largest amounts in retailing for 30,000 Square feet of space. As with his other stores Branson said the one in los Angeles will consist of groups of smaller shops specializing in such styles As Rock jazz and classical. It will also sell books and games and have a restaurant. Branson is flush with Cash since he recently sold the Virgin music group a record company for $880 million to Thorn Emi pc. His share of the Sale was $540 million. That does not mean however that he is ready to expand wildly. He said he prefers that his Empire which includes hotels and computer games stays Small enough to keep tabs on and that its individual companies remain Small enough so the employees know one another. Business food companies to merge snack operations in Europe by the associated press new York a food giants Pepsico inc. And general Mills inc. Said they agreed to merge their snack food operations in six european countries in a Deal that lets Ewelt partner rapidly expand on the continent. The Deal which involves contribution of assets from each company but no Cash provides the latest example of multinational alliances Between High profile companies in consumer products. Citicorp seeks to beef up capital new York a Citicorp disclosed an unusual plan to further Shore up its depleted capital Cushion against loan losses. The plan revealed tuesday involves an Exchange of some of its preferred Stock for common Stock a a transaction that could give Citicorp room to tap the markets for More capital later on Bank analysts said. American to buy o Hare slots Chicago a trans world airlines has agreed to sell its entire operation at of Hare International Airport a 40 Landing and Takeoff slots and three Gates a to american airlines for up to $500 million. The move tuesday further positions american to take on United airlines at the nations busiest Airport. American will get another 12 o Hare slots in settling a lawsuit it filed to Block United a Purchase of air Wisconsin