European Stars and Stripes (Newspaper) - January 9, 1993, Darmstadt, Hesse                                C. Saturday january 9, t993 pc today a rates following Are fixed rates at which Community banking and credit Union facilities will sell for eign currencies to . Personnel for Persona use German Mark. 1.61 British Pound 1.s8 dutch Guilder .1.80 greek drachma .212.2046 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 turkish lira Spanish peseta 116.75 portuguese escudo 147.96 austrian Schilling 11.58 saudi rial 3.7495 Bahrain Dinar 0.37675 Kuwait Dinar 0.3046 norwegian Krone .7.08 danish Krone 6.372 British Pound. 1.5435 German Mark.1.6415 Swiss franc. 1.5005 French franc 5.6015 dutch Guilder 1.8405 belgian franc. 33.76 Canadian Dollar. 1.282 note figures Are expressed in dollars to the British Pound other currencies to he Dollar Gold quote $329.25 an ounce. Silver quote $3.60 an ounce new York Exchange 3 new York up a the 15 most Active stocks in new York Stock Exchange composite trading on thursday. Stock Salas last Nat chg. Philip Morris 5,743,300 72 up Rwjr Nabisco hid 4,107.300 m up Wal Mart stores 3,686,700 60 Oft ism corp 3,683,100 47 off 1 Merck $ co inc 3,490,800 41 via off Chrysler corp Ford motor co. 3,397,400 35v5 off 3,197,000 44 unch general motors a 3,002,000 33 off adv Micro docs 2,921,400 20 up k Mart corp 2,543,600 23 off limited inc 2,503,503 28 off Tucson exec per2,415,000 2 unch Home shopping 2,401.700 7 off Uniss corp a a 2,396,300 10 unch ban America 2,374,300. 44 off 2 american Exchange 3 new York up a the 10 most Active stocks in american Stock Exchange composite trading thursday. Slack Safaa last Nat chg. Jones plumbing 1,213,900 2 up cat Energy inc spa tech corp 1,070,800 20 up 1 860,7003 unch exp Lorato co la a 755,100 1 3-16 up 1-16 Amdahl corp Elan corp Pic 629,400 6 off 549,500 32 up Chambers Dev a 541,600 5 unch Cheyenne so Flor 491,300 31 up Oil inter Dell comm 449,100 �?�9 Ivan corp. 369,000 26 up Dow Jones new York up Dow Jenes closing Range of averages thursday 30 industrials 20 transport 15 utilities 65 stocks High 3333.53 15q5.8t 222.21 1226.59 Low 3250.32 1459.bb 217.76 1194.73 me 3268.69 off 36.47 1480.23 up 12.49 218 58 off 2.69 1204.28 0116.09 Money matters the stars and stripes b Page 17 . Retail chains rack up great sales Over holidays by the new York times the nations Chain stores thursday reported Strong sales in december their Best Holiday season since 1988. Retailers had anticipated moderate gains for the Christmas season but few had predicted sales As vigorous As they turned out to be. And even the most optimistic were surprised by the results. A sales were not Good a they were great a said Edward Johnson director of the Johnson rebook service a publication of Lynch Jones amp Ryan a new York brokerage firm that monitors retail companies. He was one of the few analysts who had predicted High sales growth. A the consumer came out of the closet a he said. Sales Jire Likely to slow in the first Quarter of this year for several reasons. Retailers managed their inventories Well during the holidays so they have relatively few goods left to Mark Down. Conversely they had so much merchandise to Clear out at Cut rate prices last year that sales soared in january and february. Any gains Early this year Are Likely to Pale in comparison. A behind the Holiday surge were Many shoppers who had quit using credit cards to reduce their debt but pulled them out for the holidays. A a we re wondering whether there wont be Sohie credit card panic this month when people get their Bills a Johnson said. And Many people who ran up Bills in december anticipating income tax refunds Early this year May be disappointed to find their refunds will be smaller than usual. The Bush administration adjusted the Federal tax withholding tables to put More Money in Consumers pockets last year. Still analysts said retailers had Little to fear at the Start of the new year with lean inventories that will protect their profit margins. A Strong sales coupled with an absence of the Price promoting of the last several years and a much More disciplined approach to management made this Christmas a barn Burner a said Jeffrey m. Finer an analyst at Salomon Brothers. For the five weeks that ended last sat urday Wal Mart stores inc., the country a largest retail Chain posted its Best comparable store sales gains in five years. S comparable stores arc those open at least a year. Zuckerman takes Over . Paper buyout of Continental approved by . Washington a the transportation department approved a $450 million buyout thursday of Continental airlines inc. By air Canada and other investors hoping to help the . Airline emerge from bankruptcy Protection i the Deal which has been sought by Continentals management must still be approved by the . Bankruptcy court. Under the proposal air Canada would invest $235 million for 27.5 percent of the Houston based airlines equity while a group of Texas investors air partners Nield pay an additional $215 million for an identical share. As Union new York up realtor pub Lisher Mortimer Zuckerman took the Helm of the beleaguered new York daily news on thursday. By the close of business nearly 170 employees in the new York newspaper Guild had walked out of the building in Midtown Manhattan with Pink slips said a source close to the new owner. Zuckerman signed ownership papers for the tabloid thursday at a Purchase Price of $36.3 million. The transition capped a tumultuous two year period during which the news went from near bankruptcy to ownership by the late Media magnate Robert Maxwell. Maxwell purchased the news from the Tribune co. Of Chicago less than one year before his mysterious death apse in november 1991 and the subs Mirent collapse of his financial Empire. Zuckerman took control of the 73-year-old tabloid following 11 months of Complex drawn out negotiation with the unions affiliated with the  vowed Early on to make staff cuts to increase profits and eventually negotiated contracts with eight of the nine unions. The Guild remains without a contract. A a we be had to make some Tough decisions but we re pleased that we be been Able to preserve approximately 1,535 jobs that would have been lost if the daily news folded a Zuckerman said in a statement. The news reportedly has lost $100 million in the past 10 years and is currently losing $7 million a year. It Likely would have gone under last month without a $3 million Cash infusion by Zuckerman in november. In the papers newsroom thursday night the mood was grim. Reporter Tom Robbins said that in the eyes of employees Zuckerman had newsroom Sherry White a newspaper Guild shop Steward at the new York daily news carries a message thursday to new owner Mortimer Zuckerman at the papers Manhattan office. A turned himself into the Dracula of newspaper  a a he a starting off on a great venture by firing people who put their whole lives into this newspaper Quot Robbins said. He said that in addition to the firing of workers with decades of experience Zuckerman also demoted Many employ pcs a a a a a in a shocked that the Guy decided to drop a Neutron bomb Here and does no to think its going to taint the place a Robbins said. Japan to keep limit on Auto exports to . Tokyo apr seeking to Avert further Trade tensions Japan said Friday that it will keep its limit on Auto exports to the United states unchanged for the next fiscal year at 1.65 million units. The decision by the ministry of International Trade and Industry comes asja pants Trade surplus with the United states continues to expand. Autos and Auto parts account for nearly 75 percent of that surplus. The surplus last november the most recent month available Rose 10 percent to $3.85 billion the eighth consecutive month of year to year increases. Japan first limited its car exports to the . Market at 1.68 million units in fiscal 1981 to give time for . Automakers to recover from poor sales caused by Competition. The ceiling was raised to 2.30 million units m 1985 but trimmed again to 1.65 million units in fiscal 1992, which ends March 31, following the imposition of the voluntary restraints major japanese automakers began setting up their own Planis in the United states or forming joint ventures with . Maker sin 1991, a total of 1,55 million units were produced in these . Plants according to the Japan automobile manufacturers association