European Stars and Stripes (Newspaper) - February 03, 1993, Darmstadt, Hesse                                Wednesday february 3,1993 Money matters the stars and stripes b Page 13 today s rates following arc fixed rates a which Community banking and credit Union facilities will sell for eign currencies to . Personnel for personal use German Mark 1.59british Pound 1.49 dutch Guilder 1.78greek drachma. 207.0032 note the rates above apply within the hos 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 Curren cies italian lira 1,517.18 turkish lira 8,881.00 Spanish peseta 115.65 portuguese escudo 147.03 austrian Schilling 11.47 saudi rial 3.7495 Bahrain Dinar 0.37675 Kuwait Dinar .0.3072 norwegian Krone 6.922 danish krone6.2795 British Pound 1.446 German Mark 1.644 Swiss franc 1.5225 French franc 5.537 dutch Guilder 1.848 belgian franc 33.80 Canadian Dollar 1.2625 note figures Are expressed in dollars to the British Pound other currencies to the Dollar Gold quote $329.75 an ounce Silver quote $3.69 an ounce new York Exchange new York up the 15 most Active stocks in Newyork Stock Exchange composite trading on monday. Stock Silei Litt net chg. Rwjr Nabisco hid 6.889,000 8ft up to Amer express co 6,630,900 24tt Uultt Motorola inc 6,540,200 53v up2v Glaxo holdings 4,344,700 19m off w Merck & co inc 4,279,000 38tt off in ism corp. 3,036,500 52tt Uultt Tele Lonos de my 2,933,700 53h up Bank America 2,733,100 53v4 up v4 called inc 2,659,600 3tt up uitime Warner inc 2,279,700 34vt Uultt Philip Morris 2,239,200 75tt up w general motors 1,944,500 38 putt Citicorp 1,931,100 25tt up i Bristol Myersq 1,892,600 59v Oft % Compaq computer 1,888,200 53vi up2h american Exchange new York up the 10 most Active stocks i american Stock Exchange composite trading monday. Keck Liln Tut nil  labs inc b 6,511,400 a off it Elsinore corp 1,600,400 3 Ulvi Millhaven corp 746,000 unch Beta Well Sivc 652.700 11 to up citizens St be 412,100 5v4 pvt Amdahl corp 398,000 8h unc conversion ind 361,300 14h of Tow Bergen Brunswig 343,400 23 up a fruit of loom 318,700 44v up a Royal Oak mines 309,100 111-16 unch Dow Jones new York up Dow Jones closing Range of averages monday nigh Low Clou Carungi 30 industrials 334380 3300.30 3332.18 up 22.1520 transport 1524.35 1500.17 1517.50 up 11.08 15 utilities 228.78 225.78 228.28 up 1.69 65 stocks. 1238.93 1221.66 1234.47 up 8.61 health charge to propel loss at pm to $23.5 billion in 92 by the new York times business apparently were working. We general motors corp., acknowledging continue to be encouraged by recent that it faces monumental expenses Over trends in our North american opera. -1. " re 13 \l7.nart.l.r.r atthe next 20 years for Retiree health care benefits said monday that it was taking a $20.8 billion after tax charge against 1992 earnings. The accounting adjustment Means that pm will Post a net loss of about $23.5 Bil lion for 1992, far exceeding the american corporate record loss of $4.97 billion that ism set last week. Pm is the biggest of the nation s old tons g. Richard Wagoner the chief financial officer said in a statement. The company continues to forecast a break even financial performance in 1993 before interest taxes and health care accounting expenses he said. The announcements followed a meet ing of the pm Board at the automaker s proving grounds in Mesa Ariz. Pm also said it would take a one time after tax charge of $744 million in theline Industrial companies to comply with fort tar b re Latch to its 81 non a a tit tort to tent font Ira of Al inf of a fitful a _. A. _. Accounting rules that Are forcing Compa pics to subtract enormous future health care liabilities from their net Worth. On a positive note pm also said re cent efforts to control operating costs in its troubled North american automotive stake in National car rental system inc., More than double the $300 million write off the automaker estimated in novem Ber. Pm said the discrepancy relates primarily to the write off of Good will on the books of National car  pm is trying to turn around the unprofitable car rental operation. The Board also raised the quarterly dividend on pm s class a Stock by 11 percent to 10 cents a share from 9 cents. A spokesman said the increase was based on improved profits at its electronic data systems corp. Subsidiary. The corporation also elected two new directors to its Board or. Louis w. Sulli Van Secretary of health and human services in the Bush administration and John h. Bryan the chairman and chief executive of Sara Lee corp. Sullivan 59, also previously served As president of the More House school of Medicine. Bryan 56, became chairman of consolidated foods corp. In 1976 the company changed its name to Sara Lee in 1985. Bills from Page 12 the customer Soliz said. The Only re course for the customer is to stand there and look at their Money before they leave the  he acknowledged however that not every Teller will take kindly to customers scrutinizing Bills. Bank tellers get indignant if you stand there in front of them and they say what Are you doing and you say to looking at my Money to make sure there s not a bad Bill Here said Soliz who has worked for the Treasury department for 23 years. They feel that ency Are sup posed to be the  in fact Soliz said Many tellers have not been trained to detect counterfeit cur Rency. Recent strides in color copier technology have opened the Way for what heteros casual  to head them off two Security features were introduced with 1990 series notes Soliz said. One feature is a Clear polyester thread imbedded vertically in the Bill to the left of the Federal Reserve Seal. The Bill s denomination is printed on the thread. A $100 Bill for example has Usa 100" printed along the length of the thread. It can be read from either Side when held up to the Light. The other feature is a line of Micro printing around the note s portrait. The repeating words the United states of America can Only be read with magnification and look like a solid line to the naked Eye. The new notes which Are available in $50 and $100 denominations eventually will be phased into All denominations except possibly $1 Bills. Soliz suggested that people worried about the authenticity of their . Cur Rency request new Bills and take time to hold them to the Light before accepting them. Merchants Bank spokesman Frank j. Chundrlik said the new Bills arc no available yet at Community Banks As merchants has problems getting them from the Federal Reserve through Switz Erland. The Best Way to examine a Bill is to compare it with a genuine one Soliz said. A Good Bill will have a lifelike distinct portrait a bad one will appear lifeless with details merging into the background according to the Treasury department publication know your Money. The saw toothed Points on the Edge of the Federal Reserve and Treasury seals will be Clear distinct and Sharp on a Good Bill compared with a Fate Bill s uneven Blunt or broken Points. The serial numbers on a genuine note will match the color of the Treasury Seal have a distinctive style and be evenly  Fine Lack like lines in the Bills Bor Der will be Clear and unbroken in a True Greenback. The counterfeit will Likely re veal blurred indistinct lines. People should pay attention to the paper. Genuine paper contains no water Marks and has tiny red and Blue fibres embedded throughout the pamphlet said. Counterfeiters will attempt to print the red and Blue lines. Even though machines exist to detect counterfeit Bills fingers arc still the most effective tool for picking out phony notes said Paul Samulski merchants Bank Security director for Continental Europe. On a Good Bill you la feel the raise letters of the  if it s Nice and smooth it could be a problem. If you doubt a Bill is genuine take it to local police authorities the secret serv ice or a Bank. And if your office gets a new fancy copier Don t use it to counterfeit . Currency Soliz said. The Federal penalty for a counterfeit ing conviction is second Only to that for treason he said. Counterfeiters can be fined up to $5,000 and receive 15 years imprisonment for each note seized. Money from Page 12 More than 30,000 sorts of false dollars Fauconnier said. Because the counterfeits Are difficult to detect All people in the agencies Bank branches have to note the numbers of the  in addition the Bank will accept $50 und $100 Bills Only As deposits from account holders not for Exchange Faucon Nier said. The . Army criminal records Cen Ter in Baltimore reports that the army crime lab in Frankfurt examined 141 Bills in 1992 that were submitted by military investigative agencies throughout Europe. Of those it determined 119, or 84 per cent were counterfeit. Rolando p. Soliz special agent in charge of the . Secret service office in Paris which monitors counterfeiting in Europe could not confirm a greater counterfeiting problem in the so called Tri Border area. However authorities seized More than $10.5 million in counterfeit Bills 1992 be fore they hit the streets As a result of anti counterfeit operations in Belgium Netherlands and Germany. Stung by dec . Bars bids on Utility service contracts by the new York times Washington responding aggressively to new european Community restrictions on american sales of electrical and telecommunications equipment the Clinton administration announced monday that it would bar companies from the Community s member nations from bidding on Federal Utility and serv ice contracts. Mickey Kantor the . Trade representative said that the United states was also considering whether to pull out of an International agreement that prohibits National governments from favouring Domestic producers. Utility and service con tracts Are already exempt from the pact. Sir Leon Brittan the european Community s commissioner for external eco nomic affairs criticized the Steps As uni lateral bullying but did not Label them As protectionist. The Bush administration had planned the same action on Utility and service contracts but was divided on whether to threaten a pullout. As in other recent cases Federal Law required the administration to respond to the foreign Trade practices. The new rules allow state run enter Prises in the telecommunications electricity generation water and mass transportation industries to give preference to european manufacturers when making purchasing decisions. These companies already give preference to local producers but Nave not had the Legal backing of Community rules until now. The new rules May also help american companies a Little by requiring More pub Lic disclosure on bidding processes. The ban on european participation in Federal contract bidding will take effect on March 22. Further talks could Settle the dispute with no ban Ever taking effect. Another american Trade official who insisted on anonymity said that the ban would cover $40 billion to $50 billion a year Worth of government contracts. But companies from the european Community Only won $40 million to $50 million a year Worth of these contracts which include Many local services such Ashe operation of cafeterias in government buildings. By contrast european utilities buy $10 billion to $15 billion a year Worth of equipment and american companies win none of these contracts even though they ship such equipment All Over the world