European Stars and Stripes (Newspaper) - May 21, 1992, Darmstadt, Hesse                                Thursday May 21, 1992 the stars and stripes c Page 15money matter today s tip american Telephone amp Telegraph began direct dial service tuesday to All 11 members of the Commonwealth of Independent states and to Georgia Lithuania Latvia and Estonia. Several of at amp to a rivals including Sci and sprint already offer direct dial service to the former soviet Union which spans 11 time zones. At amp to however said it has the largest direct dealing capacity of any Long distance Carrier serving the Region with More than 400 circuits. Callers using at amp to previously had to phone through an operator usually in Moscow. The Calls now can be placed by dealing Oil then 7, then a City or Region code and the local number. Rates Start at $1.55 per  rates London up wedge Days 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 $337.45 an ounce Silver at $4.07. May 19 May 20 British Pound.1.8397 1.8330 German mark.1.5910 1.5958 French franc.5.3600 5.3690 dutch guilder.1 7905 1.7960 belgian franc.32.76 32.86 italian lira.1,199.20 1,201.00 Swiss franc.1. 4625 1.4655 greek drachma. 189.10 189.58 turkish  6,673.70 saudi arabian riyal.3.7499 3.7498 Spanish peseta.99.47 99.84 portuguese escudo.132.07 132.61 Canadian dollar.1.1948 1.1945 austrian schilling.11.1965 11.2250 norwegian Krone .5.7310 6.2260 danish krone.6.1445 6.1700 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 1.56 Marks to a Dollar and $1.88 for a Pound through thursday based on wednesdays noontime Price fixings. New York Exchange new York up a York Stock Exchange the 15 most Active stocks in new composite trading on tuesday. Stock silts list nit chg. Walt Disney co 5.306,300 40 74 up 1 a a limited inc 3,075,000 20 74 up v4 Glaxo holdings 2,293,600 27 up a a Kohls corp 2,257,000 14 unch coca cola co 2,137,400 45 % up 74 Boston scent pc 1,939,100 17 74 unch storage techno 1,938,400 35 off 74 Hewlett Packard 1,826,900 74 i off 74 Philip Morris 1.668,400 76 % Oft a Ford motor co 1,543,500 44 m up a a Barnett Banks 1,479,800 35 m off m Exxon corp 1,434,400 60 up 74 Micera group 1,431,300 29 it Oft 74 Conseco inc 1,302,700 28 44 off 2 m Tel Fonos de my 1,239.400 56 74 up a american Exchange new York up american Stock exc Stock expo rate co la us banknote Hill Haven corp inti Corona Echo Bay mines pall corp Wang labs inc f Ich corp Ivan corp cell financial a the ten most Active stocks in Lange composite trading tuesday. Split list net chg. 2,124,300 1 5-16 up 3-16 823,100 6y< up 44 721.900 2 m up 74 652,800 4 unch 579,300 644 unch 477,700 24 a a up m 417,800 3 4. Off 74 330,800 344 up 74 314,500 23 44 off 74 269,400 3 44 up 74 Dow Jones new York up Dow Jones closing Range of averages tuesday 30 industrials 20 transports 15 utilities 65 stocks High 3413 37 1379 86 21457 1203 86 Low 3350 41 1355 75 210 88 1182 21 clot 3397.99 1373 13 21395 1 198 57 Chang up 21 96 up 0 56 up 1 51 up 5 68 . Trade deficit rockets to 18-month High in March from wire reports Washington a americans Trade deficit soared to $5.82 billion in March As imports jumped to an 18-month High the government said wednesday. The Commerce department said the March imbalance was 77 percent larger than a revised february Trade Gap of $3.29 billion that bad been the Best showing in nearly nine years. While exports hit a record in february they fell Back  percent to $36.98 billion in March. Imports surged to $42.79 billion their highest level since november 1990. The Trade deficit is the difference Between imports and exports. The report was the second piece of bad economic news this week. On tuesday the government reported that construction on new Homes and apartments plunged by 17 percent in april the biggest nose dive in eight years. The Bush administration is counting on continued Trade improvements to boost the Economy during an election year. But private economists predict the country a Trade deficit on a downward path since 1988, could begin rising again As weakness in Canada Europe and Japan cuts into . Export sales at the same time that americans demand for imports rises. They say this years Trade deficit will Widen to around $75 billion. The bad economic news however has not put a Dent on the euphoria on Wall Street As the Dow Jones Industrial average climbed tuesday to another record close of 3,397.99 Points. Investors bid up Stock prices on a belief that the weak Economy will Force the Federal Reserve to Cut interest rates again. The feds rate setting open Market committee met privately tuesday but there was no indication of its plans. The $5.82 billion March Trade deficit was the worst since an october imbalance of $5.87 billion. The $679 million drop in exports reflected scattered declines in a number of industries. Sales of aircraft and parts which had been surging suffered a setback of $41 million while sales of com a tors and related products dropped 236 million. 5 the $1.8 billion increase in imports which pushed them up by 4.5 percent from their february level reflected a 6.1 percent jump in Auto imports which Rose to $7.54 billion. As usual the country s largest deficit was with Japan an imbalance of $3.99 billion that accounted for almost 70 percent of the Overall imbalance. The slowdown in april construction affected every Region in the country. The largest drop was registered in the Midwest where housing starts fell by 30.5 percent to an adjusted annual rate of 242,000 units. The housing figures were released a Day after president Bush speaking to the National association of Home builders touted the role of construction in spurring recovery. A the old adage is coming True As housing goes so goes the Economy a said Bush who cited a combined 15.8 percent gain in housing starts in the first Quarter. On tuesday White House spokesman Marlin Fitzwater said a this is a on month housing drop but it does no to change the Basic conclusion. Sole of missile firm to French debated by t he new York times Washington a the Bush administration must decide soon whether to permit a French concern to buy a leading american military supplier in a landmark Case. At Issue is the $300 million Sale of Ltd  missile division to Frances Thomson Csc one of the worlds largest military companies. Supporters of the proposed Deal say Thomson a deep pockets a the French government controls 58 percent of the company a would give Ltd a Strong International marketing network and save jobs at the Dallas based missile maker. But Many in Congress and the aerospace Industry fear the Sale will Compromise american technology and weaken the global competitiveness of ailing american companies. In House and Senate hearings last week lawmakers voiced Sharp scepticism that Congress could Trust France and French companies which have been among the most Active arms merchants to countries such As Libya Iran and Iraq. A tvs a missile division makes missile and artillery systems for the army. A High stakes Battle is unfolding in Washington As the team of losing bidders Martin Marietta corp. And Lockheed corp., appeals to lawmakers and to an inter Agency administration committee. The Sale cannot go Forward until it has been reviewed by the panel. It then must submit its recommendation to president Bush who makes the final ruling. Senior administration officials including Deputy defense Secretary Donald j. Atwood jr., have said the Sale May be approved if the government and Thomson can agree on special Security restrictions to protect classified military secrets from falling into hostile hands. Thomson said Only about 5 percent of a tvs a business is highly classified but Chester Paul Beach jr., the defense departments acting general counsel said at a Senate hearing earlier this month that about 75 percent of the missile contracts involve some components that require special Security clearances. Ltd has been in bankruptcy since 1986. Most of the Money raised from the auction of its once Pri cd aerospace and missile units would go to the pension Benefit guaranty corp. Vacation travel Boom predicted for summer Washington apr vacation travel postponed by Many americans last year because of recession and War will Likely Rise 4 percent this summer two travel organizations said tuesday. The . Travel data Center said recreational travel will return to the Levels of 1990. The american automobile association said 82 percent of the trips will be made by motor vehicle with total numbers of such trips increasing by 4.6 percent also a return to 1990 Levels. Thomas r. Crosby speaking for the automobile association said he was optimistic about summer travel citing the returning consumer Confidence no recent Steep increases in gasoline prices fierce Competition in the hotel Industry lower air fares and pent up demand from last year. Some 29 percent of those travelling by Road Are expected to head to the Southeast Crosby said followed by the Midwest 25 percent the West 19 percent the Northeast 13 percent and the great lakes 10 percent. The Survey said the no. 1 destination by far will be Orlando fla., site of Disney world and other attractions. The other most popular destinations will be in order Southern California Williamsburg a. And Yellowstone National Park Wyo. Two destinations the grand Canyon in Arizona and the Black Hills of South Dakota were tied for fifth place. Crosby said the automobile associations annual study of vacation costs shows that a family of four will need an average of $183 a Day for food and lodging a $3 increase from last year. Costs for Gas Oil and maintenance will average $27 for each 300 Miles Down $2 from 1991. Business accounting company loses suit must pay $338 million from wire reports Phoenix a a state jury on tuesday told Price waterhouse to pay $338 million to a British banking company. The jury decided the accounting firms audit led to a losing investment in an Arizona Bank. The jury agreed with London based Standard chartered pc that Price waterhouse bungled its audit of United Bank in 1985 and 1986. The British company had alleged in a Maricopa county Superior court lawsuit that Price waterhouse failed to Alert the firm to had Loans on the Hanks books and grossly overstated its financial condition. Shoemaker socked for Boycott Washington a the California based athletic Shoemaker . Gear inc. Agreed to pay $404,000 to Settle charges it participated in the Arab Boycott of Israel the Commerce department said tuesday. The department alleged that in july 1987 and january and May 1990, . Gear complied with Boycott requests from a customer in Kuwait. It said . Gear committed 58 violations of the anti Boycott act by furnishing the names and locations of its suppliers by agreeing not to use suppliers that were rejected by the kuwaiti Boycott office and by failing to report the Boycott request