European Stars and Stripes (Newspaper) - January 21, 1993, Darmstadt, Hesse                                Page 12 b the stars and Stripe Money matters today a rates 1.58 1.76 Ith Lim following Are fixed rates at which Community banking and credit Union facilities will sell for eign currencies to . Personnel for Personalise German Mark Tia Kaaa Ian aah my 1.58 British Pound dutch Guilder greek drachma Keeae Eveet 208.7245 note tha rates above App tie 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 Kalian lira 1,469.16 turkish lira  8,703.80 Spanish peseta  113.74 portuguese escudo. 144.55 austrian Schilling of a eee Theeo a 11.305 saut Fyriel eee  epee Aleea a 3.7501 Bahrain Dinar  0.37675 Kuwait Dinar  0.30525 norwegian Krone  6.798 danish Krone Aaan Iata Aaan tax aaa it 8.1785 British Pound  1.539 German Mark  1.607 Swiss franc  1.4685 French Frane  5.424 dutch Guilder  1,805 belgian Frano 33.04 Canadian Dollar  a 1.2799 note of Guras Art Asp Ratard in a Oast to Tho British Pound  to the Dollar Gold quote 6329.00 an ounce. 1 Silver quote 63.69 an ounce a new York Exchange new York up the is most so tips stocks in new steel. Sale last notch. Tucson elec per 17.124.300 3 up Citicorp. A,601.600, 24�?T,5 lip Eastman Kodak. 5,994.400 49 up Banka Edca 5,512.400 53 up 3 general motors 5.437,600 36 up1 0 11 ism corp 5.005.000 45 Rwjr Nabisco he 3,665,300 6 off Merck 4 co inc 3.460,500 40 off Pimp Morris 3,401,300 70 0 11 chemical Bank 3,235,400 41 up off Glaxo holdings 3.170,700 21 Abbott labs re 3,029,000 26 off Chrysler com fora motor co 3.001.000 36 up1 2,458,700 47 up off Chase Manhattan 2,362,700 30 american Exchange new York us american Stock sex stick. Amdam corp Milhaven corp pm corp first Aust Pim us Butoi Cuenca ski Puma inc Energy Sevics charter med cup Chambers Dev a Gulf cd re sect 1 a the 10 most Active stocks in Hango composite trading tuesday. Sates Lari Nat pm 1,037.000 7 us up 316 965,600 41-16 777,000 5 a Unetic 629.900 8 off 540,100 9 unch 467,200 13 up 459,600 11-16 unch 427,300 11 up 393,600 5 up 289,500 25-16 unch c Dow Jones new York up a Dow Jones dosing Range Olav rages tuesday 30 industrials 20 transport 15 utilities 65 stocks High 3299.49 152999 223.77 1227.59 Lew 3239.52 1500.37 221.71 1208.49 clots chinos 3255.99 off 18.92 1510.45 0 19.66 222.90 up 0.44 1213 31 on 583 head of largest Black business Dies new York a Reginald for Lewis chairman of tic Beatrice International holdings the nation s largest Black owned business died tuesday one Day after it was disclosed he had brain cancer and was in a coma. He was 50. Lewis died of a cerebral Haemorrhage secondary to his cancer said the company which did not disclose further details. Lewis a philanthropist with a reputation As a Tough businessman was named by Forbes Magazine last year As among the 400 richest americans with a net Worth estimated at $400 million. Lewis a Baltimore native is survived by his wife and two daughters. Ism reports biggest loss in . Corporate big blues ism s recent history the worlds leading maker of computers Tost nearfy$5, billion in 1992, a record for any corporation. Ism also said it ohm see any sign of speedy improvement. New York ism on tuesday announced the worst financial performance in Anter ican corporate history a including a loss of nearly $5 billion for 1992 and forecast More Bleak times during a far reaching restructuring International business machine corp. Recorded net losses of $5.46 billion for the fourth Quarter and $4.97 billion for the year. Those numbers eclipsed earlier losses at american Telephone amp Telegraph co. And general motors corp. The annual loss exceeds a $4.45 billion decline in 1991 at pm. For the Quarter in my a loss is greater than a $4.87 billion loss at at amp to in the fourth Quarter om983. Without a $1.9 billion Benefit from accounting rules changes ism would have lost $6.87 billion last year. The financial disaster at the pioneering computer company featured double digit sales declines of Core products and a quarterly iss from regular operations a ism s first Ever a in the last three months of the year. The big blues at 79-year-old big Blue Are staggering in my a sales fell for an a Prece like other big companies that Domi dented second straight year while Job rated an Industry ism has been Bat a a a a a tired by a huge bureaucracy and a fair ure to innovate quickly enough to embrace new markets and technologies. Ism pledged further change. A your financial results Are not accept Auto to us or our shareholders Quot ism chairman John f. Akers said in a statement. Quot we Are taking aggressive actions to annual earnings billions of do bars Figuni an rounded m-97 37 �?T83 �?T89 90 �?T91 �?T92 source ism Trade line cuts totalled 40,000 and will reach nearly 100,000 Over three years by the end of 1993. In my a Stock extended declines that have dragged it from above $100 a share last summer to Levels unseen since 1975. Ism fell $1,125 to $43,375 in heavy new York Stock Exchange trading of More than 5 million shares. Tax refunds improve our competitiveness and profitability by addressing the accelerating changes that Are sweeping our Industry while adjusting for weakened. Business conditions throughout the  analysts said ism s quarterly and annual results were consistent with or slightly worse than expectations. Ism reduced Burth Quarter earnings by $7.2 Bitton before taxes to  for its latest restructuring up from $6 billion estimated when the cuts were announced in december. For the year ism took $11.6 billion in pretax accounting charges triple the comparable accounting charges of $3.7 billion in 1991. The reductions gave ism a per share loss of $9.57 in the fourth Quarter compared with a loss of $1.46 billion or $2.55 sir share a year earlier quarterly Revenue fell 11 percent to $19.56 billion from $21.97 bunion. For the year ism s loss amounted to $8.70 per share. In 1991, ism lost $2.86 billion or $5.01 per share. Revenue for the year slipped to $64.52 billion from $64.77 billion. Ism based in Armonk n.y., did not comment on the Fate of its $4.84-per-share dividend which will be on the Agenda at a Board meeting on tuesday. Akers last month said the dividend might be Cut. With a smaller work Force big equip. Ment reductions and new Structure giving its 13 business units More autonomy ism said it planned no further changes. But it warned that prospects for 1993 were not Good. Aps. Kohler year some analysts expect dip in Consumers spending Washington a american workers Are about to feel the Downside of president Bush s Campaign year Effort to stimulate the Economy a smaller tax refund. About 12 percent of couples and individuals accustomed to Quot receiving a tax refund each Winter will get none this year. Low and Middle income workers Wilt find their refunds reduced by As much As $300, and some who had expected to Send a Check with their returns will have to make it a Little larger. They Are not paying higher taxes. They simply had less tax withheld from their paychecks during the last 10 months of 1992 because Bush was trying to boost consumer spending. Spending actually Rose during the first Quarter of 1992, Only to drop in the second Quarter. Now some analysts worry that the reduced Lump sum refunds will cause workers to curtail spending just As consumer Confidence is building again. A potentially this could have a bigger negative Impact now Quot said Jill Thompson an analyst with Del Mcgraw Hill in Lexington mass. Quot i Don t know that we will Ever know whether there was any positive effect last year but my feeling is that it did no to Impact spending at All Sandra Shaber an economist with the wefa group in Bala Cynwyd pa., said she thinks the extra Cash up to about $3.30 a week for most single workers and $6.60 for married people a boosted spending last year she agreed there is a risk that Consumers having counted on sizable refunds in the past might curtail spending because of a smaller Check this year. Quot but there probably is not going to be As much of a depressing effect on spending As feared Quot Shaber said. In a typical year More than three quarters of filers receive refunds. Last year refunds averaged $1,026. Millions opt to have too much withheld from their paychecks just so they can get a sizable refund. They View it As forced saving or an easy Way to set aside Money for a vacation or major Purchase even though they Are allowing the government interest free use of their Money announced during his state of the Union message last january that he was directing that withholding from most paychecks be reduced no later than March 1, freeing an additional $2 billion a month for consumer spending. According to available evidence most workers accepted the change. Pay hex inc. In Rochester n.y., which prepares payrolls for 156,000 Small businesses is percent of workers Ding at the higher timotes that Only 7.1 opted to keep Withro rates by filing a new w-4 form with their employers. That Means about 82 million couples and individuals had their withholding reduced. Since in most cases the changes were in effect for 10 months an expected refund could be reduced by As much As $298 for a married person or $149 for a single. The withholding changes were less for married people making More than $78,700 and singles above $47,350. Married workers making $90,200 or More and singles at $53,200 or More were not affected at All. A the changes Are permanent taxes Are being withheld from 1993 wages at the lower rates. A worker can change the rate by filing a new w-4 with the employer