European Stars and Stripes (Newspaper) - May 20, 1992, Darmstadt, Hesse                                Wednesday May 20, 1992 the stars and stripes Page 17money matters today s tip Mcdonnell Douglas corp. Suffered a potential setback when a taiwanese group offered to buy jets instead of a 40 percent stake in the St. Louis company a commercial air plane business. The worlds third largest aircraft maker had hoped Taiwan aerospace corp. Would invest $2 billion in Mcdonnell a commercial plane operations to help cover the $4 billion Cost of its md-12 jumbo Jet project a key portion of the company a business plan. Under the proposal monday taiwanese investors would form a leasing company to buy 20 md-12 jumbo jets from Mcdonnell Douglas at roughly $2 billion to $2.5 billion. But the investors said the leasing company would buy the jets Only after Mcdonnell Douglas obtained orders to build at least 30. Conversion rates London up tuesdays 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 $340.00 an ounce Stiver at $4.00. Mavis May 19 British Pound.1.8358 1.8405 German mark.1.5952 1.5915 French franc.5.3645 5.3458 dutch guilder.1.7975 1.7920 belgian franc.32.85 32.78 Kalian lira.1,202.50 1,197.00 Swiss franc.1.4655 1.4613 greek drachma.189.12 189.10 turkish lira.6,663.40 saudi arabian rtyal.3.7499 3.7499 Spanish peseta.99.62 99.47 portuguese escudo.132.37 132.07 Canadian dollar.1.1983 1.1948 austrian schhtlng.11.2210 11.1965 norwegian krone.6.2230 5.7310 danish krone.6.1545 8.1445 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 1.55 Marks to a Dollar and $1.89 for a Pound through wednesday based on tuesdays noontime Price fixings. New York Exchange new York up York Stock Exchange the 15 most Active stocks in new composite trading on monday. Slock sate Lail net chg. Watt Disney co 3,104,700 39% up1% Citicorp 1,858,700 19% off a Gap inc 1,847,500 34% up computer Assoc 1,556,500 12% oif umsted inc 1,546,700 20% up Ford motor co 1,432,900 43% up 1 coca Cota co 1,418,400 44% up Hewlett Packard 1.362,000 74% off 3 Royal dutch pet 1,171,700 84% up 1% ism corp 1,169,900 90% off % at amp to company 1,162,000 43% up Central motors 1,161,000 39% up Barnett Banks 1,086,500 36 on 3% Rwjr Nabisco hid 1,061,600 9% off % Upjohn co 1,048,000 34% on american Exchange american Stock Slock expo rate co la Turner by dust b pall Corn Hasbro inc inti Corona hoax corp Ich corp Gulf cd re secs pm inti inc fruit of loom up exc a the 10 most Active stocks in Iange composite trading monday. Salat last Nat chg. 1,030,500 1% up % 408,400 21 unch 304,900 23% 0 1% 281,400 28% up 1 279,200 4 unch 258,600 24% up off be 226,900 3% 208,700 7% up 1 208,200 2% off 200,100 35 qf1% Dow Jones new York up a Dow Jones closing Range of averages monday 30 industrials 20 transport 15 utilities 65 stocks High 3398 24 1388 83 21351 120236 Low 3349 92 1364 35 211 38 1184 74 Cloie 3376 03 1372 57 212 44 1192 89 change up 22 94 of 1 50 up 0 43 up 4 51 ., japanese car makers say they la talk about More Trade from wire reports Oak Brook 111. . And japanese automakers have stepped gingerly toward Trade peace agreeing to form a committee to seek ways to reduce their sales imbalance. A we introduced a voluntary plan to Purchase Auto parts and completed automobiles a said Takao Tominaga vice chairman of the Japan automobile manufacturers association. A we Felt strongly it was necessary to have business to Busi Ness discussions. A issues common to All manufacturers must be faced so we believe it was significant that the first step was  leaders of the big three in the United states and their five japanese based counterparts met for four hours monday As a follow up to their tense Tokyo Summit in january. They apparently discussed but did no to dwell on a Bill in Congress that would restrict . Sales of japanese cars. None of the executives attended a news conference after the session. A Good meeting a general motors corp. Chairman Robert c. Stempel said As he walked past reporters. Chrysler corp. Chairman Lee a. Iacocca who denounced the japanese automakers after the first Summit said mondays meeting went a just  officials of the two Trade groups that sponsored the meeting at a suburban Chicago hotel also revealed few details. Tominaga said the meeting a was conducted in a very Friendly atmosphere and we believe it was a  Industry analysts Hadnot expected profound Progress but some said the meeting appeared to show that the automakers at least want to convey an impression of cooperation. A it was in effect saying a lets Start the dialogue that we never started Back in january a a said Joseph Phillippi who follows . Auto companies for the investment firm Lehman Brothers. The participants agreed to establish two working groups through the Trade associations one to find ways of increasing sales of . Vehicles in Japan and boosting japanese purchases of .-made car parts from $9 billion to $19 billion by Ford chairman Harold a. Poling left and Nissan president Yutaka Kumcu meet. 1994. Those goals were identified at the january meeting As avenues for reducing the United states $38.4 billion Trade deficit with Japan about three quarters of which is due to the imbalance in automotive Trade. A there is a Trade deficit and we re concerned about that a Thomas Hanna president of the motor vehicle manufacturers association told the news conference. A the emphasis of this meeting was to work As Best we can with each other to try to mitigate the Impact of that by the opening of markets around the world and the increased Purchase of .  the Auto chiefs also agreed to establish a working group to consider environmental and safety issues. Hanna said another Summit meeting was Likely though none was scheduled. He said there was a no attempt to discuss a Bill introduced by rep. Dan Rostonkowski Dell that would restrict sales of japanese nameplate vehicles from 1993 to 1999 based on the number of . Vehicles sold in Japan. But Tominaga said the japanese participants a did express in general terms that such protectionist legislation would not be  last week Iacocca and Ford motor co. Chairman Harold a. Poling declared their support for the Bill. American express opens Cash machine in Beijing Beijing apr american express has installed China a first automatic Cash dispenser an official report said tuesday. The machine in Beijing a commercial and embassy District dispenses traveler a checks in . Dollars and foreign Exchange certificates the chinese Yuan currency used by foreigners. The dispenser was installed monday at the world Trade Center the China daily reported. A the installation of this Cash dispenser is another demonstration of american express commitment to continuously improving our services to card members travelling to China a the report quoted Lee Soojin senior vice president of american express for Hong Kong China and Mongolia As saying. A few automatic Bank machines began appearing in major chinese cities a few years ago but have not gained wide popularity. Many people in China still stash their savings in a locked drawer or other hiding places at Home. American express opened its Beijing office in 1981 to handle limited customer services including taking reports of lost cards or traveler a checks. But it has been unable to obtain a business License from chinese authorities and cannot handle Cash transactions such As giving refunds for lost checks. The Cash dispenser is managed by the Industrial Bank of China International Trust and investment corp. Business demand for compact discs to expand . Plant jobs from wire reports Pitman . A As demand for compact discs continues to grow a Sony corp. Plant plans to More than double its annual production under a $30 million project that will also create 100 new jobs officials said monday. The construction will make the facility one of the largest compact disc plants in the world said Stan Nimiroski vice president or manufacturing for Sony music entertainment. The Plant currently has about 925 employees. Macy bondholders have plan new York bondholders of r.i1. Macy amp co. Inc. Arc asking a bankruptcy judge for permission to file their own reorganization plan for the department store company an attorney said. Macy has asked . Bankruptcy judge Burton a Ifland for an Extension of the period in which it has the exclusive right to file a reorganization blueprint. But Bondholder attorney Robert Miller said monday that his clients were opposing that request and were prepared to file their own plan for restructuring the company a finances