European Stars and Stripes (Newspaper) - December 23, 1992, Darmstadt, Hesse                                Wednesday december 23, 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.1.54 British Pound.1.58 dutch Guilder .1.73 greek drachma .201.0848 note the rates above apply within 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 .1,422.00 turkish lira .8,380.50 Spanish peseta.112.30 portuguese escudo.142.25 austrian Schilling .11.11 saudi rial. 3.7495 Bahrain Dinar .0.37675 Kuwait dinar.0.2980 norwegian krone.6.7850 danish krone.6.0950 British Pound.1.5380 German Mark. 1.5875 Swiss franc .1.4340 French franc.5.4255 dutch guilder.1.8758 belgian franc.32.65 Canadian Dollar.1.2605 note figures Are expressed in dollars to the British Pound other currencies to the Dollar Gold quote $332.75 an ounce Silver quote $3.73 an ounce new York Exchange new York up a the 15 most Active stocks in new York Stock Exchange composite trading on monday. Stock Salat Lait Nat chg. Tucson elec per 13,340,800 2vs up it ism corp 7,382,800 48ft off 2v& Nat hath labs 4,840,000 17ft Oft 5% Uniss corp 2,848,900 10v4 up it at amp to company 2,530,700 50ft up it Westinghouse Al 2,209,300 13 up i Citicorp 2,198,100 20vfc up it Boeing co 2,131,100 36ft up 1ft Rwjr Nabisco hid 1,980,400 8ft unch Philip Morris i,818,100 77ft up it Glaxo holdings 1,731,400 24ft off i general motors 1,698,300 33% unch Pierl imports 1,694,200 12ft up it Wal Mart stores 1,582,100 63 it off 1 it Merck amp co inc 1,577,700 47ft up it american Exchange new York up a the 10 most Active stocks in american Stock Exchange composite trading monday. Stock Salat Lait net chg. Iva corp 1,739,900 29ft off 5ft epitome inc 697,600 16ft of13ft Amdahl corp 696,300 6ft off it Hill Haven corp 650,700 4 up 1-16 expo rate co la 459,200 1ft off 3-16 Nabors Industry 391,400 6ft offt Alc common corp 391,400 12ft off it Echo Bay mines 307,900 5ft off it Chambers Dev a 299,300 4 9-16 up 1-16 Hasbro inc 294,300 33ft off it Dow Jones i new York up Dow Jones closing Range of averages monday High Low close change 30 industrials 3335.15 3280.85 3312.46 off 0.81 20 transport 1462.90 1432.89 1448.60 off 2.42 15 utilities 223.59 220.83 222.27 off 0.63 65 stocks 1216.88 1196.20 1207.64 off 1.32 . Accuses 8 airlines of rigging Domestic fares Washington a the government has reached a settlement with two major airlines and sued six others accusing them of fixing fares in the $40 billion Domestic passenger business. The airlines shared their planned fare changes through a computer system the Justice department alleged monday in the civil antitrust lawsuit filed in . District court in Washington. The suit followed a three year investigation. Named in the suit were american airlines United airlines Delta air lines Northwest airlines us air Continental airlines trans world airlines and Alaska airlines inc. Also named was airline Tariff publishing co., or at of Chantilly va., the computer data system run by the Industry. The Justice department reached a tentative settlement with United and us air that required them to discontinue certain practices it said were ant competitive. The two airlines were named in the suit which was filed simultaneously with the settlement. Us air said that under the settlement which is subject to court approval it will change its fare setting practices a in certain  it did not specify the changes. The airline said it also will implement a compliance program to make its employees aware of their responsibilities under the settlement. The suit did not seek Money damages from the six airlines but asked that they be prohibited for 10 years from making any agreement to fix fares. The department also wanted the airlines to cover unspecified Legal costs. The suit charges the airlines with agreeing to increase particular fares and eliminating some discounts Between specific cities. A using at the airlines were Able to engage in an elaborate dialogue with one flow of red Ink in 93 could outpace 92 total Washington a president elect Clinton is facing a budget deficit hat so far is growing at a Pace to match or exceed the red Ink of 1992. During the first two months of fiscal 1993, which began oct. 1, the deficit totalled $81.6 billion the Treasury department said monday. That a up 0.4 percent from the first two months of fiscal 1992, when the annual deficit soared to $290.2 billion. The deficit was $32.7 billion in november and $48.9 billion in october. The Bush administration is projecting a $341 billion deficit in fiscal 1993 and the congressional budget office $331 billion. Private economists put the Range at $310 billion to $320 billion. Taking account of pessimism about the spending Gap Clinton sought last week to reassure economists and others that he would be careful not to balloon the deficit if he decides to stimulate the Economy. A whatever we do we have to put in the context of Long term deficit reduction a he told the Wall Street journal. Underscoring his seriousness he said he might propose taxing employer paid health insurance premiums or raising the retirement age. Clinton a comments offer some reassurance that the deficit at least will grow less rapidly said economist Kathleen Stephansen of Donaldson Lufkin amp Jenrette. She said she expects a return to somewhat better economic growth will bring in another about future Faros a said j. Mark Gidley acting head of the Justice departments antitrust division. A for example airlines communicated the details of proposed fare increases to competitors and obtained their reactions. These discussions often continued until there was an agreement on a higher of arc. The department said the system has been used at least from april 1988 through May 1990. Continental denied monday that it had violated antitrust Law and said the lawsuit failed to address what it said was the real problem a predatory fare undercutting that can drive smaller carriers out of business. Continental said it intended to fight the lawsuit and a defend its ability to notify travel agents and Consumers about fare changes and to respond quickly to competitive pressures from other  More tax Revenue. But the governments savings and loan cleanup probably will get the authority to Start spending again after having been on hold since april she said. A a it a almost a Given that Congress will give the Resolution Trust corp the authority to spend. The More important Issue is a what will the new administration do about an economic stimulus package ? my sense at this Point in time is its not going to be that dramatic a she said. Without spending authority the Etc has been a moneymaker for the government so far this fiscal year bringing in a net of $6.2 billion in october and november. That a because it continues to sell the securities and foreclosed real estate inherited from failed thrifts but has not spent new funds in paying off depositors. Instead it keeps failed thrifts open until it can get the Money to close them. As usual social Security was the biggest single spending item in the Federal budget $24.1 billion last month and $46.9 billion for the fiscal year up 6.9 percent from a year ago. Military spending amounted to $19.9 billion in november Down 2.9 percent for the fiscal year so far to $46.2 billion. Spending on other programs of the department of health and human services including medicare and medicaid totalled $18.9 billion in november and $44.6 billion for the year so far up 3.9 percent from fiscal 1992.sears to shut smaller stores paper reports Chicago of Sears Roebuck and co. Plans to close up to 100 of its smaller stores eliminating up to 5,000 jobs nationwide a newspaper reported tuesday. The Chicago Tribune citing company sources it did not identify also said scars plans to shrink its Money losing a big Book Quot mail order Catalon which dates to the company a beginnings in 1886. It said scars will probably switch to specially Cata logs. The store closings Are to he announced next month the Tribune said. The newspaper did not say when the closings would take place. Sears has Cut More than 48,000 jobs since 1990, but no stores have been closed. Sears operates three classes of stores. The 416 a a a stores which carry All lines of general merchandise would be unaffected by the closings. The closings would come from the 400 a a by stores which carry a More limited selection of general merchandise and the 51 a a cd stores which carry Only major appliances sporting goods and automotive supplies the Tribune said. Sears officials declined to comment  denies Abc claim of being in american new York apr Wal Mart stores inc. Has vehemently denied allegations in an Abc report that its commitment to sell american products is phony. The dateline Abc report says that despite Wal marts fervently patriotic image the nation s no. 1 retailer. A imports increasingly vast quantities of merchandise. A exploits sweatshop child labor in Bangladesh. A has done business with a suspected garment smuggling operation in China. A and displays foreign made clothes on Racks that proclaim a made in the  _ Wal Mart Stock dropped $1.75 a share to $63.87, monday on publicity about the report which was to air tuesday night in the United states. Wal Mart spokesman Don Shinkle said imports account for Only 5.8 percent of the chains total marketed goods. He also pointed out that some of the Abc report was attributed to organized labor which has fought Wal Mart before Over its nonunion policies. Quot Wal Mart stands behind its a buy american program a Shinkle said from the company a Bentonville ark., Headquarters. A we find it incredible that Abc and a coalition of labor unions would attack a program designed to do nothing More than create jobs in this  Wal Mart is one of the biggest Success stories of american business. Its founder the late Sam m. Walton parlayed a dime store into the world s biggest Dis count Chain. It has More than 1,700 outlets in 42 states. Walton and his subordinates turned the a made in american theme into a Cornerstone of Wal marts Success with promises of products made by americans for americans. Wal Mart touts american merchandise in commercials that speak of a bringing it Home to the  Walton a Best Selling autobiography is titled Sam Walton made in America. The dateline Abc account said a two month investigation revealed that Wal Mart is one of the asian textile Industry a biggest customers. It cited Wal Mart imports of 288 million pounds of goods from Hong Kong and China last year 8,000 times More than its import volume before the a buy american program began in l a