European Stars and Stripes (Newspaper) - December 9, 1992, Darmstadt, Hesse                                Today a rates following Are fixed rates at which Community banking and credit Union facilities will sell foreign currencies to . Personnel for personal use German Mark. British Pound .1.65 dutch guilder.1.70 greek drachma 197.8153 note the rate above apply a Fth the Host country. Figures Are expressed in dollars to the British Pound other currencies to the Dollar following Are Interbank rates that fluctuate and should be regarded As the approximate value of the . Dollar to foreign currencies italian lira.1,393.00 turklahllra.8,208.90 Span Lah peseta.111.90 portuguese escudo.138.78 austrian schilling.10.97 saudi rial.3.7501 Bahrain dinar.0.37675 Kuwait dinar.0.299 norwegian krone.6.37 danish krone.6.052 British Pound.1.5955 German Mark.1.5610 Swiss franc.1.4000 French franc.5.3212 dutch guilder.1.7545 belgian franc.32.15 Canadian Dollar.1.2715 note figures Are expressed in dollars to the British Pound other currencies to the Dollar Gold quote $335.25 an ounce Silver quote $3.77 an ounce. C new York Exchange a a new York up a the 15 most Active stocks in new York Stock Exchange composite trading on monday. Stock Amer express co Home shopping Chrysler corp West Lohouse Al general motors Glaxo holdings Merck $ co inc do corp tandem computer Phra electric Home depot inc Uniss corp merry go round Rwjr Nabisco hid Walt Disney co Salm Lait Natch. 8,881,800 24% up 1 % 3,515,900 6 % unch 3,008,500 32% up 2,702,700 13% up 2,410,500 34% up 2,217,300 26% up 1,897,800 46% up 1,668,400 65% 0ff1 % 1,625,700 15% up 1 1,623,600 25% unch 1,581,100 65 up 1 % 1,484,000 10 off 1,476,900 17% up 1,435,500 9 unch 1,435,400 41 % up american Exchange j new York up a the 10 most Active stocks in american Stock Exchange composite trading monday. Stock Amdahl corp Forest labs inc spi pharma inc us Bio science Hil Viaven corp ban corp pc expo rate co la a corp citizens St be new York times sales 1,115,500 1,028,800 538,600 434.000 395,700 340.100 323.000 263.100 258,500 250,400 last 7 43 % 13 12% 3 % 33% 1 i 36% 4% 26% notch. Oft i off 1 i off 5% up off unch off is up unch Oft 1 Dow Jones new York up rages monday Dow Jones closing Range of a 30 industrials 20 transport 15 utilities 65 stocks Neh 3320.56 1435.31 219.14 1203.13 Lew close coca 3274.37 3307.33 up 18.6 1411.94 1424.43 off 5.84 216.14 218.58 up 2.01 1185.54 1197.25 up 3.78 Northwest holds off Jet orders Twa finalizes restructuring plan by the los Angeles times struggling Northwest airlines on monday cancelled or delayed More than $6 billion Worth of aircraft orders and obtained More financing in a bid to prop up the nations fourth largest airline. Meanwhile another ailing Carrier a trans world airlines a finalized agreements with creditors and Federal pension officials that will Clear the Way for the venerable Carrier to emerge from bankruptcy court Protection next month. Northwest axed or put off orders for nearly 120 passenger jets. In doing so it followed the action of such major . Carriers As american Delta and United As the airline Industry struggles through its worst slump Ever. A a cancelling and deferring these orders was difficult,.�?� John Dasburg president and chief executive officers of the Minne Apolis based airline said in a statement. A however in today a competitive environment an environment marked by overcapacity around the world it is simply no longer possible to economically justify All of these aircraft  Northwest a decision was particularly painful for Airbus industries the european consortium that saw orders for 74 aircraft cancelled. In addition the airline delayed delivery of 44 jets from Boeing co. Northwest acquired in 1989 by a group led by los Angeles based investors Alfred Checchi and Gary Wilson also obtained a $250 million loan and other financial Relief from various lenders suppliers and investors a including Kim of Holland which owns 49 percent of the Carrier. The a existing vendors and investors have concluded that another $50 million each is Worth the risk to protect their invested Cap ital a said John f. Ash president of global aviation associates an airline Industry consulting firm. The $250 million also will help Northwest make it through the Winter when airlines traditionally lose Money. A after the holidays there is a dramatic decline in traffic and profitability a said Ernest Arvai an airline consultant. At Twa executives said monday that they had overcome a dispute with Federal officials concerning its underfunded pension plans that had threatened a reorganization plan unveiled in August. Under the agreement with the pension Benefit guarantee corp., Twa chairman Carl Icahn would contribute $80 million to the plans and would pay up to $240 million should the plans fail. In addition Twa will put up an additional 5300 million for the plans. Was difficult,.�?� John Dasburg president concluded that another $50 million each is edition Twa will put up an additional and chief executive officers of the Minne Worth the risk to protect their invested Cap 5300 million for the plans Grace to step Down As top officer of company he has led 47 years by the new York times a specially chemicals business and a for Aldo \/1� i 3 1/ 1 11 _ a a _ a e i a hmm i l a a _ .1__1_ j by the new York times new York a j. Peter Grace one of american Industry a Blu test and most colourful executives will retire As chief executive of . Grace amp co. At years end the company announced monday. Grace 79, who is suffering from cancer has been chief executive since 1945, a Span the company says is unmatched by any other chief executive of a leading american Industrial concern. During the 47-year period Grace transformed the company from a steamship line founded by his Grandfather 137 years ago into a Multi Ilion Dollar conglomerate with nearly 50,000 employees. A the is one of the original entrepreneurs a said James Wilbur a managing director at Smith Barney Harris Upham amp co. A the was an inveterate participant in As Many new businesses Asne could get in  Grace who will remain As chairman will be succeeded by . Bolduc 53. Bolduc the company a president and chief operating officer is the architect of a sweeping restructuring plan that by 1994 will cause Grace to sned Many of the operations it has accumulated. Since the restructuring was announced nov. 7, 1991, Grace has sold its Book video and computer software operations a specially chemicals business and a fertilizer business. The company a Headquarters have been moved to Boca Raton fla., from Manhattan. The company one of the worlds largest manufacturers of specially chemicals is also a leading provider of health care services through National medical care a subsidiary. Grace who began his career at the company in 1936 upon his graduation from Yale has been an adviser to three presidents. Most recently in 1982, president Reagan appointed Grace As chairman of a commission charged with finding ways to Cut costs in the Federal government. The commissions report which contained recommendations that it said would save the government More than $400 billion Over a three year period was never put into effect. Known As a Blunt speaker Grace raised hackles this year in Milwaukee when he made derogatory comments about new York gov. Mario Cuomo. Grace later apologized. A the is a Man who Speaks his mind with Little fear of the consequences a said j. Jeffrey Cianci an analyst at Bear Steans amp co. A the is not a Low profile chief  j. Peter Grace. A one of the original entrepreneurs Boeing piecing together new 777 Airliner Wichita Kan. Up a Boeing co. Division monday announced that subassembly work has begun on the new 777 Airliner due for its first delivery in less than three years. Boeing the worlds largest maker of commercial air planes said 75 of the More than 1,300 sub assemblies that will make up the nose Section of the 777 have been built along with More than 180 assemblies for the engine Nacelles and the struts at Boeing a Wichita division. Boeing Wichita is responsible for the nose Section seat tracks struts and Nacelles for the 777. The 350seat Airliner will fill a Market Gap Between the 767 and the 747 jumbo Jet. It is expected to Cost Boeing at least $4 billion in development and initial production costs. Boeing has not produced a completely new Model since Early 1981, when it rolled out the 757.mgm, Bank sue former owner Kerkorian for $1.25 billion los Angeles apr metro Goldwyn Mayer and the Bank that owns it sued former Mem owner Kirk Kerkorian for $1.25 billion monday accusing him of fraud in the Sale of the historic movie studio to Gian Carlo Parretti. It was the latest roaring in the bitter Legal wars stemming from the Sale and near collapse of Mem which released the wizard of of and gone with the wind under its celebrated lion logo during Hollywood a Golden age. Since the Sale in november 1990, my my a struggle to recast itself As a viable concern has played out against a backdrop of litigation. Parretti a mysterious italian Fin Ancier is wanted on criminal perjury charges in Delaware stemming from one of those cases. Many of my my a assets already had been parcelled off when Parretti bought it from Kerkorian a Beverly Hills billionaire who made his Fortune in airlines and hotel casinos. Within months the studio was floundering so poor that it could nut afford to make posters to promote its movies. Mondays Legal action was taken by the French state owned Bank credit Lyonnais which bankrolled Parret tips $1.3 billion takeover and the studio. The Bank filed a $500 million lawsuit in Federal court in los Angeles. Metro Goldwyn Mayer repossessed by the Bank when Parretti defaulted on loan payments filed a $750 million lawsuit in state court. The lawsuits allege a scheme to deceive the Bank in order to Complete the Sale of Stock in what was then called Mem a communications co. To Parrettie spathe communications corp. Besides Kerkorian the defendants include Houlihan Lokey Howard amp Zukin a financial adviser that issued a solvency opinion saying the emerging company would be Able to pay its debts. The suits say the defendants knew or recklessly disregarded the fact that the Cash flow projections on which the opinion was based were grossly overinflated