European Stars and Stripes (Newspaper) - February 4, 1993, Darmstadt, Hesse                                Page 12 8 the stars and stripes of Money matters thursday february 4,1993 today a rates 3-i following arc fixed rates at which Community banking and credit Union facilities will sell for sign currencies to . Personnel for personal use German Mark. 1.60 British Pound. 1.47 dutch Guilder. 1.80 greek drachma. 212.2831 note the rates above apply within the Host country. Flares Are expressed in dollars to the British Pound Othor Curro Clos to the Dollar following arc Interbank rates that fluctuate and should be regarded As the approximate value of. The . Dollar to foreign Curran cies a italian lira. 1,528.86 turkish lira 8,940.90 Spanish Pesota 117.00 portuguese escudo 148.77 austrian Schilling 11.583 saudi rial .3.7495 Bahrain Dinar. 0.37675 Kuwait Dinar 0.3079 norwegian Krone 7.006 danish Krone. 6.405 British Pound. 1.4365 German Mark. 1.6455 Swiss franc. 1.5260 French franc. 5.5745 dutch Guilder .1.8536 belglafranc.34.02 Canadian Dollar. 1.2664 note figures Ere expressed in dollars to the British Pound Othor Curro Clos to Ihu Dollar Gold quote $328.29 an ounce Silver quote $3.68 an ounce new York Exchange new York up a the 15 most i calve stocks in new. Stock Salta lilt nit chg. Merck $ co inc 7,891,700 37v off 1v Glaxo holdings 7,076,200 18v off 1 Refl Nabisco hid 4,722,100 a Ofle Telefor ios de my 4,132,400 52v off to Bristol Myersq 3,629,000 58vk off in Motorola inc 3,591,400 54 a in a Amer express co 2,941,400 24vk unch Johnson amp Johnsn 2,674,000 43v off vibe corp 2,642,400 52v Oil a Abbott labs inc 2,507,500 �26 a a off 1v Pfizer inc 2,270,300 63 off 2v general motors 2,165,400 37v off a Leslie Fay co 1,975,000 6 a off a called inc 1,943,900 3 a lip i Oft a Bank America 1,904,500 53v american Exchange j new York up a the 10 most Active stocks in Amerl Stock Salee lilt nit chg. Wang labs inc b 2,574,400 1 off a Glatfelter pm 1,619,300 17 a off vib citizens St be 730,300 6 /. Up a Echo Bay mines 660.000 415-16 up a Royal Oak mines n7n communicate 524,600 113-16 up a 515,200 6 a up us Blo Screnci 447,300 9 up a Oft a Elsinore corp 443,100 2 Hill Haven corp 409,900 3 a off a Beta Well Sivc 365,700 13 a up 1 h Dow Jones 1 new York up a Dow Jones closing Range of averages tuesday High Low clots 30 industrials 3355 68 20 transport 1538 24 15 utilities 230 10 65 stocks 1245 97 change 3300.30 3328 6? Oft 3 51 1508 83 152878 up 11 28 227.09 229 53 up 1.25 1225 02 1232.78 up 3 31economic indicators show Best gain since 83 slow Economy Likely in Western Germany Bonn Germany up a for the first time in nearly a decade prices will Rise faster than wages during 1993 in Western Germany the government said in a grim annual forecast leaked tuesday. The economics ministry said in the re port that the Gross Domestic product in Western Germany this year is Likely to end up Between being unchanged and declining by 1 percent. The Economy grew an estimated 1.6 percent last year. The smaller Eastern Germany Economy was expected to grow by 5 percent to 7 percent As it did in 1992, the report said. The report forecast an average increase of 2.5 percent to 3 percent in Gross w Ages in Western Germany and said Price increases would average 3.5 percent. By the Washington Tost Washington the governments a Index of leading economic indicators Rose 1.9 percent in december the largest monthly gain in nearly a decade the Commerce department reported tucs Day. The report was another sign that the . Economy is on solid footing again. Nine of the separate components that make up the Commerce departments Index of leading indicators a including factory orders orders for consumer goods and building permits a went up. A Strong increase in consumer expectations As measured by the University of Michi Gan contributed mos to the Rise in the tax credit by Ray Rowden Washington Burcal Washington a avoiding double taxation on 1992 military income will be a bit More complicated for those who list puerto Rico As their Legal residence. Until this year the internal Revenue service granted a foreign tax credit for levies paid to puerto Rico based on in come from the . Military. This year Only taxes paid on military income earned outside the United states will be eligible for that credit said Rod Young of the International office of the irs in Washington. The credit May not exceed the income taxes owed to the is land Commonwealth. Young suggested that  report their full military income to puck to Rico and the irs file for foreign tax credit on Money earned overseas with their . Return and request foreign tax credit on Money earned in the United states with their puerto Rico return. Taxpayers claiming residence in puerto Rico need to file form 1040 with the irs and either form 481.0 or 482.0 with puerto Rico. Puerto Rico residents should also use irs form 1116, foreign tax credit Young said. Further details Are available in irs publication 514, foreign tax credit for individuals. Under the irs formula for calculating the credit  who earned All their military pay overseas and had no other . Income could get a maximum credit equal to their total . Income tax assessment As Long As the taxes paid to monthly Survey. In another report the Commerce department said new Home sales Rose 6.3 percent to an annual rate of 656,000 in december with All of the gains coming in the Midwest and South. At the same time an earlier estimate for november Home sales was revised upward to a 617,000 rate from 565,000., december a figures were the third consecutive monthly gain in the leading indicators Index and the biggest increase since april 1983, when the nation was emerging from the last recession. The Index is designed to predict economic activity six to nine months in Advance. Economists look particularly to the indexes trend taking three consecutive monthly movements in the same direction As a fairly reliable indication of what a ahead. Despite the 3.2 percent Rise in the Index trom september to december analysts cautioned that the Index was not signalling that an economic Boom is on the Way. ,. The University of Michigan Survey found that while Consumers assessments of current economic conditions improved last month their expectations about the future dropped a bit. Similarly a decline in initial claims for unemployment benefits the second most important Factor in the indicators Rise reported tuesday partially reversed itself last month. For puerto Picans puerto Rico income tax credit Here Are two examples of the irs formula for calculating tax credits of puerto rican service members who earned some or All of their income outside the . Taxable income from outside the . Taxable income All. Earned outside the  $13,000.00 $13,000.00 = 1 x $1,954.00 total taxable income All sources Xiy  or it i =$1,954.00 i taxable income half earned outside . A Wjk $6,500.ob . Income tax i $13,000.00 a n r maximum tax 11 credit. Must be x $1,954.00 equal or less than Fri Rrt   puerto rican it __<fcqf5ff7 in taxes owed i f us puerto Rico equal or exceed that amount. Military members can Call or write the following offices for help with Federal tax returns a for filing returns a internal Revenue service Center Philadelphia a. 19255. A to request forms and publications a irs forms distribution Center Box 25866, Richmond a. 23289. A for help in filing from overseas a internal Revenue service assistant commissioner International attn in c tips 950 la infant Plaza so Washington . 20024 Telephone 202 a amps 874-1460 a for help in Germany a . Embassy Deichmann Aue 29, 5300 Bonn 2, Germany Telephone 0228-339-2810. A for help in England a . Embassy 24/31 Grosvenor Square London England w1a-1ae Telephone 71-408 a for help in saudi Arabia a . Embassy irs Box 94309, Riyadh 11693, saudi Arabia Telephone 1-488-3800, ext. 210 a for help in Italy a . Embassy a irs via Veneto 121, 2nd floor Rome Italy 00187 Telephone 6-4674-2560 a the irs taxpayer service office for puerto Rico 809 766-5040. Small business forecast to add workers in new York a thousands of Job cuts announced by scars ism and in aerospace manufacturers last month obscured a Subtle counter trend smaller companies Are hiring. Economists and labor forecasters said an array of Small to medium companies the engine of Job growth during the 1980s, is at least looking to fatten staffs As the Economy improves. Many of these companies which Range in size from a couple of dozen workers to 1,000, already have added a few people Here and there. But the effect of this marginal Job creation is hard to detect and has gone largely unnoticed. A when ism lays off thousands of people that More than compensates for the Small companies adding 10 jobs at a Sears announced 50,000 Job cuts last month big aerospace manufacturers said they a slash 36,000 positions and ism time a said Andrew Campbell president of corporate technology information services inc., a High tech Industry re search firm in Woburn mass., that tracks hiring plans of 35,000 companies. Planned to trim 3,000. But Campbell said his firm has seen Small High tech companies increasingly eager to recruit. In a Survey completed last month it found that nationally these companies Are planning to expand their staffs by 6.3 percent in 1993. That a about 139,000 new jobs. Others foresee modest increases of hiring in other Small businesses ranging from Home health care providers to office Supply distributors. On the other hand the Fortune 500 companies which once employed 20 percent of the . Work Force Are Down to about the 10 percent level and still shrinking said labor economist Richard Belous. A the Small companies Are where the Job growth is going to come from a said Belous of the National planning association a research group in Washington. A in terms of Quantity that a Good  in addition a growing number of companies Are Likely to hire temporary workers at least As their business improves. Manpower inc., the nations leading temporary help company is expected to increase its payroll this year breaking its record 550,000 workers in 1992. But most Job experts agreed that practically All new employment will be in services not manufacturing where the number of workers has eroded As . Factories have moved operations abroad or Learned to produce just As much with less help. In general service jobs offer lower pay and fewer benefits. A a lot of the folks who Are going to be leaving and losing $25-an-hour jobs Are going to be Lucky to get $15 and $20-an-hour jobs Quot said Kenneth Goldstein a labor economist at the conference Board a business research group in new York. B v