European Stars and Stripes (Newspaper) - January 25, 1993, Darmstadt, Hesse                                Page 16 the stars and stripes Money matters monday january 26,1993 today a rates following arc fixed rates at which Community banking and credit Union facilities will sell foreign currencies to . Personnel for personal use German Mark. 1.57 British Pound. 1.55 dutch Guilder. 1.76 greek drachma. 209.4403. Note the rates above apply within the Host country. Figures Are expressed in dollars to to 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 Curran Bicsi italian lira. 1,481.23 turkish lira. .0,738,50 Spanish peseta. 113.90 portuguese escudo 144.89 austrian Schilling 11.326 saudi rial. 3.7501 Bahrain Dinar a  0.37675 Kuwait Dinar 0.305 norwegian Krone 6.83 danish Krone. 6.1815 British Pound a a a a a a a a a 1.5237 German Mark 1.598 Swiss franc 1.473 French franc. 5.4415 dutch Guilder .1.8085 belgian franc. 33.01 Canadian Dollar. 1.2865 note figures Are expressed in dollars to the British Pound other currencies to Tho Dollar Gold quote s329.0o an ounce. Silver quote $3.72 an ounce new owners Eye expansion analysts eagerly Clinton s first action by Chet Currier a business writer new York a now that president Clinton a administration has formally begun Wall Street analysts Are waiting eagerly to see what answers he can provide to the riddles posed by the Federal budget deficit. Though the Street is often portrayed As monolithic in its thinking on this ques lion there Are almost As Many opinions in the financial world As there Are people to voice them. One school of thought holds out great Hope that Clinton with a fresh viewpoint and the Energy he demonstrated in a grueling Campaign can Start to make some Progress on a problem that has been festering for two decades. At the other extreme some observers argue that he will find it neither desirable nor politically possible to Cut the deficit at a time when the Public is also pressing for economic stimulus and Job creation. Much conjecture about Clinton s policies has focused on which of those seemingly opposite goals he will pursue a promoting growth and jobs or shrinking the Gap Between government income and outgo. The problem with the second choices As it has confronted All of Clinton a re cent predecessors is that deficit shrinking can be popular As a general idea but extremely unpopular when it comes Down to making actual tax increases or spend in  a client recently told me that he believes or. Clinton will have to deliver on deficit reduction or he wont be re elect cd a said Mark Melcher a Washington analyst at Prudential securities. A i respectfully disagree. A in the final analysis i think or. Clinton will find that drastic deficit reduction will be More dangerous to his chances for re election than doing a Little bit and blaming his failure in the fact that the mess Reagan and Bush left was greater than he  added Robert Stalla economist at Mcdonald amp co. In Cleveland a fall of my life the political party in Power excused deficits while the party that was out of Power wailed against them. A now that government spending is really a investing a my suspicion is that the refrain in Washington will be that deficits arc All right since it is common business practice to finance most investments with  Given such uncertainties the Market held within a pretty narrow Range As Clinton took the oath of office and moved into the White House in the past Chicago a officials of the newly restructured Schwinn bicycle co. Say they want to make the company global and double its Market share. But Schwinn a new president and chief operating officer Ralph d. Murray said he plans to continue Selling the bicycles solely through dealerships. A we have no plans to enter the mass Market with the Schwinn Brand a Murray told reporters. A the first thing we re working on is to get the flow of the. Product Back to the dealers.�?�. On tuesday a Federal bankruptcy judge approved Schwinn s $60 million Sale to takeover King Sam Zellus Chicago based Zell Chilmark fund. Schwinn had filed for bankruptcy Protection oct. 7. The buyout is being completed through a venture with Scott sports group. Scott Usa makes Mountain bikes and accessories ski poles and goggles and motorcycle goggles and accessories. A a major part of our strategy right now is really to get every thing Back on line to get the product flowing to rebuild our dealer organization Quot Charles t. Ferries chairman of Scott sports group said Friday. A we want to take Schwinn global Quot he said. A we think there Are opportunities in Europe. We want to strengthen the Scott Bike line and its  Murray said Schwinn probably Wotila move it corporate offices from Chicago its Home for 98 years to a suburb. Schwinn then can bring its West Chicago distribution Center together with its Oft ice staff numbering about 160. Its unclear whether West Chicago will be the joint site. Murray said Schwinn sales last year totalled $150 million to4$160 million. Total a . Bicycle sales number about 11 million. Schwinn s Market share has run 7 to $ percent in the past two years. Ned Post. Scott Usa president said he would like to see Scott become a stronger player in the United states but separate from Schwinn. Though Strong in Europe Scott has levs than 1 percent of the . Market share. Deadline approaches Peter s. Kalikow owner of the new York Post explains his newspapers plight to reporters outside his office Friday night. Kalikow has asked workers to accept a temporary 20 percent pay Cut in order to keep the 192-year-old paper in business Kalikow said he w Ould suspend publication beginning today if workers did not accept the cuts. Union leaders were meeting sunday to decide on the proposal week. 1 a a the Dow Jones average of 30 industrials closed Friday at 3256.81, Down 14.31 Points from the week before. The Nash a composite Index for the Over the counter Market meanwhile pushed ahead to new highs with a 4.48 gain to 701.63. At the american Stock Exchange the Market value Index was up 2.71 at 406.36. Some Wall Streeter argue that deficit reduction for All the objections and complaints it might raise would actually serve As a Boon to economic activity rather than a negative for growth. A even in the Short term a Sharp reduction in government red Ink May actually tie stimulative to the Economy a argued Stephen Robert chief executive of Oppenheimer amp co. In new York. A first of All it would cause interest rates particularly Long term rates to decline from their present very High real  but on that line of reasoning analysts also disagree. A although this May Lead to lower Long term interest rates a said Hugh Johnson at first Albany corp. In Albany n.y., a lower Long term interest rates May not help since debt Levels Are High and borrowers Are. Reluctant to increase those debt  . Trade Gap with Japan hits $43.67 billion Tokyo a Japan a 1992 Trade surplus with the United states Rose 14 percent to $43.67 billion while the asian nations total Trade surplus climbed 38 percent from the previous year to a record $107.06 billion. With president Clinton promising to take a Tough stand on Trade Japan a ballooning surplus has been a growing source of embarrassment and tension. The new figures also show that despite a global recession japanese manufacturers continue to sell aggressively overseas. Japan a Overall Trade surplus has grown for 24 consecutive months and Rose 12 percent to $11.23 billion in december the finance ministry reported. The figures have not been adjusted for seasonal factors the finance ministry said it was Japan a highest total Trade surplus to Date surpassing the previous record of $82.74 billion in 1986, the Overall Trade surplus in 1991 was $77.79 billion. Exports in 1992 totalled $339.76 billion up 8 percent from $314,53 billion the previous year while imports totalled $232.70 billion Down 1.7 percent from $236.74 billion. In Trade with the United states exports totalled $95.86 billion up 4.7 percent from $91,54 billion in 1991. Imports from the United states came to $52.19 billion Down 2.1 percent from $53.32 billion. Delta urges halt to foreign investment in . Airlines Atlanta a president Clinton should halt All foreign investment in . Airlines until the new administration forms a policy to govern such deals the chairman of Delta air lines said Friday. Ronald a. Allen Delta a chairman and chief executive called for the moratorium one Day alter British airways agreed to invest $300 million for a 20 percent stake in us air a larger Seale Deal Between the two carriers fell apart late last War in the face of Bush administration opposition. Allen who opposed the earlier Deal called the new agreement a the old Deal in new  Delta and other . Airlines said the earlier Deal would have Given British airways More Access to the Market Here than . Carriers Are allowed overseas. United and american airlines have also come out against the new Deal for the same re a sons. Us air and British air under the Deal Are Likely to coordinate schedules services Between . Cities and engl which Quot the other carriers object to wit More Access for them to London other overseas markets. A the integrated service proposals ish airways is Likely to make As a fallen to its investment in us air will create r and service opportunities for British ways that Are denied to . Carrl american airlines chairman and t Dent Robert Crandall said in a Stattine