European Stars and Stripes (Newspaper) - January 20, 1993, Darmstadt, Hesse                                Age 12 b the stars and strips Money matters wednesday january 20,1993 today s rates following arc fixed rates at which Community banking and credit Union facilities will sell for eign currencies to . Personnel for personal use German Mark 1.58 British Pound 1.58 dutch Guilder 1.77 greek drachma 210.8135 note the rates above apply wet Iii the Host country. Figures Are expressed in dollars to the British Pound other currencies to the Dollar following arc Interbank rates that fluctuate and should be regarded As the approximate value of the . Dollar to foreign currencies italian lira 1,483.22 turkish lira 8,711.80 Spanish peseta. 114.49 portuguese escudo 145.47 austrian Schilling .11.355 saudi rial .3.7501 Bahrain Dinar 0.37675 Kuwait Dinar 0.304 norwegian Krone a a a a a a 6.82 Oan left Krone. 84117 British Pound. 1.549 German Mark a a a a a a a a a a a 1.609 Swiss franc  1.4755 French franc 5.445 Outch Guilder. 1.8145 belgian franc 33.25 Canadian Dollar. 1.2775. Note figures Ere expressed it dollars to the British Pound other currencies to the Dollar Gold quote s329.25 an ounce Silvor quote $3.71 an ounce new York Exchange new York up a 7h� 15 most Active stocks in Nee York Stock Exchange composite trading on monday. Stock sales last Nat pkg Tucson elec per 6.727,2m 2% a up Citicorp 3,277,000 23% up Rob Nabisco hid 3.061,0m 0% unch ism corp 2.975,3m 49% up in Eastman Kodak 2.594.600 48% up Chrysler corp Banka Meriea 2.592,200 2.542,1m 37% 49% Pivk up 2% general motors 2,525,300 35% of Uniss corp 2,152,700 12% unch Merck x co inc 2,040,700 �41% Olf Philip Morris 2.012.700 71% Oft 1% Westing House Al Abbott Libs toe 1,794.400 13% up of 1,602,100 27% k Mart corp Glaxo holdings 1,502,200 23% unch 1,500,600 22% unch american Exchange 1 new York up the 10 most Active stocks to american Stock Exchange composite trading monday. Stock us bios Clence Chambers Dev a Ich corp Jan Bell mtg greyhound lines Wendt Bystol fruit of loom a first aus pm data metrics up Echo Bay mines sales 633.500 609.000 513,600 �?�166,900 461.500 4 1,400 406.000 365.000 346,100 315,200 last 9% 4 5% 19 11v 3-16 46 9% 25-16 4% hat Che. Off s 0 1 h up of 0 1 h up i up 1 off i up % on w Dow Jones j new York up a Dow Jones closing Range of averages monday 30 industrials 20 transport 15 utilities 65 stocks High 3296,52 1523 94 22321 1224 97 lost 3244.65 490. I 6 221 27 120654 Toie change 3274 91 up 3.79 1520.11 up 13.90 222.46 up 0.06 1219.14 up 4.41 Intel computer Stock soars to 3rd record Santa Clara Calif. Up Stock of computer Chip giant Intel corp. Jumped monday to its third record High in less than a week after its chief executive officer promised Price cuts and new products this year. A Intel whose Stock Rose More than $11 lust week following surprising Strong fourth Quarter earnings Rose an additional $4,875 to $116,875 in heavy Over the counter trading. The Stock was boosted by published comments from ceo Andrew Grove who said Intel plans to drive Down prices of its flagship 486 microprocessor and release 25 new versions of the Chip. To create Banks to assist poor Washington up advisers to president elect Clinton Are devising a plan that would seek $850 million from Congress to finance a nationwide network of 100 Community development Banks for poor people a report said monday. The new York times said confidential documents show that the advisers have recommended the president elect ask for the Money to create such a network Over the next five years. The Banks would invest in impoverished neighbourhoods and help Low income people struggling to Start businesses. The plan favors the establishment of new Banks. But under certain conditions it would allow existing lending institutions to become part of the network and win a share of the funds the times said. Under the plan a Community development Bank would have to raise $2 from private investors for each Dollar invested by government. During the presidential Campaign Clinton praised the concept underlying the plan and singled out one Chicago Lender that resembles the Type of institution that would be a part of such a network. Since 1975, the South Shore Bank has financed the revamping of the surrounding neighbourhood of the same name lending Money to people who repaired or built residences in the once decaying area. The banking Community has mixed feelings about the Clinton advisers concept emphasizing that their Industry already has too Many lending institutions. Quot we have a lot of concern about the idea of setting up a network of 100 new Banks a said Edward Yingling a spokesman for the american banking association. Quot you ought to build on the current system which is showing great Promise. If you set up a network of 100 subsidized Banks you will end up with Federal Stan Dards saying How such a Bank should look. What you really need is a lot of flexibility to Experiment to see what works and to adjust to local  testing of anti infection drug halted after deaths of patients Philadelphia a cent Cor inc said monday it is halting clinical trials on patients of its new anti infection drug Cento in because of patient deaths. Cent Cor also said it was halting european sales of the drug. Cento in had been sold in the Netherlands Germany France Japan and the United kingdom. The biotech pharmaceutical company based in suburban Malvern made the announcement in a press release that pro Vidd to numbers. Company spokesman failed to return phone Calls seeking com mint. The company a Stock plunged on the news. Cent Cor the most Active Issue in the Over the counter Market fell $u.12vi to $6.6216 on 13.8 million shares after the  Stock had been As High As $60.25 in the past year. Cent Cor has been trying to obtain regulatory approval for Cento in a drug intended to fight a lethal bloodstream in fiction known As sepsis. The infection kills 175,000 americans annually. Cento in had been expected to reach the Market by last summer but the food a and drug administration requested an additional clinical trial. Medical experts have questioned whether Cento in and a similar drug e5, being developed by Xoma corp. Of Berkeley Calif., could really treat As Many patients As once thought. He development May have material Adverse consequences for the company and its financial condition. A cent Cor statement Quot the company is suspending enrolment of new patients in the trial pending further analysis of the results a cent Cor said. Cent Cor has an agreement with Indianapolis based Eli Lilly and co. To Market and sell the drug in the United states under the Brand name ha-1a. Lilly spokesman Edward West said Lilly had invested $50 million in Cento in a expenses to gain Federal approval and last year committed to purchasing $2 million of conto corp a shares at $25 a share. Conto corp a statement said Quot the trial was designed to determine the safety of ha-1 a and its Efficacy in the treatment of patients with Gram negative Bact Eremia and septic Shock. Quot the data reflect an excess of mortality among patients treated with ha-1a who did not have Gram negative Bact Eremia compared with patients in the same group who received placebos. Under the protocol that is being followed these data require that the company Stop the  cent Cor also acknowledged the development a a May have material Adverse consequences for the company and its financial  the company said it Quot is considering the amount of the Reserve which the company will record against its inventory of ha-1  West said the trial results were Quot completely unexpected a he added that the two companies Quot agreed that the prudent and responsible course of action would be to Nalt the  a ,. Officials will review their decision after a final analysis of the trial is completed sometime in the next several weeks West said. Viren Mehta an analyst of drug stocks for the brokerage Mehta amp isaly said Quot the drop in the share Price Speaks for itself. Conto corp a key product has not worked and the remaining assets May be just enough to cover the debt. A the diagnostic business of the company May continue to exist but Lilly May have a stake in the therapeutic business and take the products of  cent Cor develops and manufactures diagnostic and therapeutic products for human health care. Its products Are intended primarily for use in the management of patients with infectious cardiovascular and immune system diseases and cancer. Delta pilots turn Down 5% Cut in salary Atlanta apr the pilots Union at Delta air lines has rejected a management request for a 5 percent pay Cut beginning feb. 1. The reduction which will go into effect for most other employees was rejected after leaders of the air line pilots association received results of a Union sponsored analysis of Delta a finances. Spokesman Jerry Williams said the association concluded that Atlanta s largest private employer does not have a Cash flow problem despite losing nearly $1 billion during the Industry slump that began in mid-1990. Quot we re not going to take a pay Cut on february first because there a no crisis to be met by february first a Williams said. He said the association is still considering pay cuts or other concessions but said that would not happen before Spring. Harry Calger Delta a senior vice president of flight operations said the association is Quot technically corrects in concluding that the company has no Cash emergency. But he said the airline which pays the Industry a highest average wages must reduce costs. Pilots Start at about $30,000 a year. But pay rises rapidly and senior captains can make nearly $200,000. He said a pay Cut for pilots is a not just an economic Issue but also a psychological Issue and a matter of fairness a Southern California Home sales rebound los Angeles up Home sales in the battered Southern California Market jumped 25 percent in december from november a real estate tracking firm reported monday a a total of 15,866 new and used Homes were sold in Ventura los Angeles Orange Riverside san Bernardino and san Diego counties in december compared with 12,689 in november according to the Southern California real estate observer. The median Price paid for a single family resale House edged up to $181,000 in december from $180,000 in november most of the activity was in resale Homes with the Market for newly built Homes continuing to be weak. In december 2,637 new Homes were sold in Southern California Down 15.6 percent from a year ago