European Stars and Stripes (Newspaper) - November 20, 1992, Darmstadt, Hesse                                Friday november 20, 1992 Money matters the stars and stripes b Page 17today�?Ts rates following Are fixed rates at which Community banking and credit Union facilities will sell for eign currencies to . Personnel for personal use German Mark 1.54british Pound.1.57 dutch Guilder  1.73graok drachma 200.6142 not tha rata at ova apply within tha Hoat country. Feigum Art apr Aazaad in Dohara to tha Bartuah Pound Othar Curran daa to tha Dollar following Are Interbank rates that fluctuate and should be regarded As the approximate value of the . Dollar to foreign currencies italian lira.1,354.25 turkish lira.8,152.00 Spanish peseta a a a  113.32 portuguese escudo a a a a a a a a a a a a a 140.14 austrian Schilling a a a a a a a a a a a a a a a a 11.135 saudi rial  3.7495 Bahrain Dinar  0.37875 Kuwait Dinar  0.2985 norwegian Krone  6.445 danish Krone  8.082 British Pound  1.5337 German Mark  141740 Swiss Frane a  1.4315 French Frane  5.3220 dutch Guider  1.7735 belgian franc  32.38 Canadian Dollar  1.2728 Nota flour a Ara apr Aazaad in do tars to tha British Pound Othar Curran daa to the Dollar Odd quote 13345 an ounce Silver quota 13.77 an ounce new York Exchange new York up a the 15 Moat Active stocks in naw York Stock Exchange comp Oaka trading on Wadna iday. Stack Salon lad Natta. Hewlett Packard 4.708,000 58% uo3% Westinghouse Al 4,029,000 10% of Unilever no 3,859,700 102% up1% limited inc 3.311,700 25% Ulph in corp 2,706,900 63% o�1% Humana inc 2,147,600 17% olt Pepsico inc 2.115.500 41% up us Marathon 2,063,800 16% unch at amp to company 2,054,500 46% up general motors 1,807,500 30% up Merck amp co inc 1,797,200 46% up Rwjr Nabisco hid 1,734,900 9% u0% blockbuster ent 1,691,100 16% Oft Amer express co 1,666,900 22% up Phlip Morris 1,668,400 60% up american Exchange 3 new York Upo the 10 mod acht Stocton in american Stock Exchange composts trading wednesday. Stock. Daystar Indus us Bio science by Maccory fruit of loom Echo Bay mines Amdahl corp Lilliaven corp Nix corp Cheyenne softer new York Tynesa 1,108,400 588,400 542.000 509,500 414.000 373.100 313.100 303,700 285,600 260,300 5% un3l 10% up 6% of 1% 46% unch 4% up 118 8% a it 3% Upl-18 33% up 26% up 1% 27% 0�% Dow Jones new York averages i 30 industrials 20 transport 15 utilities 65 stocks a Dow Jones closing Range of 3227� 3178.84 3207.37 a pm 136198 1338.41 1355.13 up 13.90 219.95 217.14 218.77 up 1.07 116654 1148.27 115992 up 7.24 Burger King faces Fine in labor suit . Imports exports jump deficit dips to $8.31 billion Washington a the value of . Exports reached an All time High in september though barely but imports also climbed to a record level the government reported wednesday. As a result the nation s Trade deficit slipped to $8.31 billion for the month. The Bush administration pushing Forward with negotiations aimed at resolving a farm Trade fight with Europe hailed the report As a sign that american exporters were excelling. However private economists noted that the september deficit was Down Only slightly from a deficit of $8.95 billion in August. Both months represented the country s worst Trade performance since november 1990. The big jump in exports was widespread with sales of chemicals semiconductors computers and telecommunications equipment All posting big gains. On the import Side foreign sales were up sharply for autos and consumer goods. Shipments of clothing diamonds and shoes posted big gains As retailers stocked up for Christmas. Analysts however said the Good showing for exports was Likely to be temporary Given the pronounced economic weakness in Europe and Japan two of the nations biggest Export markets. They forecast that Export sales would fall in coming months while a pickup in the Domestic Economy would keep imports rising. The september Trade report said . Exports Rose to $38.24 billion an increase of 6.8 percent Over August. Imports were at an All time High of $46.55 billion 4 percent higher than in August. In addition to a Rise in demand for consumer products  Oil Bill was also higher in september climbing by 4.1 percent to $4.67 billion. That reflected a Rise in volume. The Price per barrel actually fell by 10 cents to $17.86 a barrel. The Trade deficit with Japan shot up 19 percent in september to $4.44 billion the biggest imbalance with that country since december. The deficit with Japan alone accounted for 53 percent of the nations total imbalance. The second largest deficit was with China an imbalance of $2.28 billion in september. The Trade relationships with Japan and China May undergo scrutiny by the new Clinton administration. During the election Campaign president elect Clinton questioned whether the . Trade policy toward both countries was Tough enough. Source . Dot. Of Commerce a Carl Fox Banks can Aid Economy fed chief says new York a the banking Industry is healthy enough to begin financing an emerging economic rebound Federal Reserve Board chairman Alan Greenspan says. Greenspan in a speech wednesday night at the tax foundation s annual dinner also said the credit crunch May be easing. But he said new Federal banking regulations particularly the 1991 banking Bifi could hamper the recovery of the banking Industry a and the Economy. It was Greenspan a first major speech since Bill Clinton Defeated president Bush on nov. 3. Quot fortunately the credit crunch which has been so debilitating to the economic performance of this country Over the past two to three years has shown no evidence of worsening in recent months and May finally be retreating a Greenspan said. Quot at least this is the implication of some stirring in the loan markets in recent  amp it a a. 1 4 he referred to the feds recent Survey of National economic conditions known As the beige Book that showed an increase Greenspan in Bank loan demand. The credit crunch refers to a dramatic slowdown in Bank lending since 1990, the cause of which is in dispute. Bankers generally contend they were reacting to More aggressive government Bank examiners tight regulations and weak loan demand. But some business leaders argue that Banks were trying to improve their balance sheets after reckless lending in the 1980s. Greenspan said weak loan demand is Quot by far the greatest source of stagnant loan markets. But he found Merit in both arguments adding that a recent trend toward strict Bank management is a key obstacle to renewed lending and recovery of the banking system. Quot the tendency to micromanage is particularly disturbing a Greenspan said referring to the 1991 Federal Deposit insurance improvement act. That Law for example requires regulators to move to shut Down Banks with weak capital Levels. American airlines warns workers of More financial trouble in 1993 ovation of to Settle a child labor suit brought by the government according to the Washington Post. J. The fait food Chain was accused in March 1990 of violating restrictions on hours for teen agers under age 16. Under Federal Law 14 and 15-year-Olds Are allowed to work Only three hour a Day and a maximum of 18 hours a week when school uie Siton and Only from 7 a no. To 6 . They can work longer hours during weekends and die summer. The settlement must be approved by a Federal judge Dallas apr american airlines chairman Robert Crandall has warned employees that the Carrier faces More financial difficulty in 1993. Quot we will have to be different and the time to Start being different is now a Crandall said in a message to employees. It was videotaped for distribution to managers last month and printed this week in the company a flagship news newspaper. Crandall s message contained no new specifics but its tone was clearly More grim than previous discussions of the challenges facing the nations largest airline. Not even the nations recovery from the recession which has deepened the troubles of most carriers will help american overcome changing competitive conditions and consumer attitudes Crandall said Quot we re not going to be rescued by better times a he said. Americans Parent fort Worth based Amr corp., appears Likely to Post a third consecutive annual loss and surpass last years record $240 million loss. It lost $231 million through the first three quarters of the year. The company has blamed fare discounting Ana higher fuel costs mainly for the performance. American said it is reviewing every operation to slice $300 million in operating costs next year. The airline last month announced the layoffs of up to 1,000 managers nearly 10 percent of that segment of its work Force. Quot we Are also tightening up everywhere we can in Field and station Manning a Crandall said. American employs about 98,000 people and Amr nearly 117,000. American May also withdraw from . Markets where it loses Money and return some aircraft for which it has Short term leases Crandall said. There was no mention of any possible shrinking of its International system which has grown rapidly in recent years. Mcdonnell to Cut funds for md-12 St. Louis a Mcdonnell Douglas corp has slashed development spending on its md-12 jetliner program for the fourth Quarter because of a soft Market for new aircraft. The aerospace concern spent $80 million in the first three quarters of the year in development of the md-12, but its commitment will shrink to $11 million in the fourth Quarter. The cutback was mentioned in a third Quarter filing with the securities and Exchange commission and raised questions about the future of the md-12. The md-12 is described by the company As a four engine wide body double deck aircraft. The Long Range version would carry a maximum of 400 passengers on routes As Long As 8,000 nautical Miles about 9,200 statute Miles