European Stars and Stripes (Newspaper) - February 13, 1993, Darmstadt, Hesse                                Page 16 b the stars and stripes Money matters saturday february 13,1993 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 1.61 British Pound 1.47 dutch Guilder 1.81 greek drachma 213.755 note the rates above apply within the 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 16 foreign Curren cies italian lira 1,540.66 turkish lira 9,046.30 Spanish peseta 117.65 portuguese escudo 150.05 austrian Schilling 11.59 saudi rial3.7495 Bahrain Dinar 0.37675 Kuwait Dinar 0.3087 norwegian Krone 7.007 d0nlsn Krone � o.3l8 British Pound., .1.4207 German Mark 1.6585 Swiss franc 1.538 French franc 5.5825 dutch Guilder. 1.8705 belgian franc � 33.96 Canadian Dollar 1.2551 Noto figures Are expressed in dollars to the British Pound other currencies to the Dollar Gold quote $330.75 an ounce. Silver quote 13.75 an ounce. New York Exchange new York up the 15 most a Flat stocks in new York Stock Exchange composite trading on thursday. Stock general motors Leet incl Gap Chrysler corp enl motors t ism corp Merck & co inc Newmont mining Ford motor co Glaxo holdings Orl Stol Myersq Wal Mart stores Sears Roebuck Citicorp Phiilip Morris oct Dott petrol tt.294,4003,954,100 3,503,2003,253,700 3,093,400 2,997,600 2.599,500 2,587,9002,468,500 2,376,300 2,178,000 2,029,7001,983,900 1,936,900 1.925,500 till 40v32v 40% 31 to 51 v40v 40vi 50h 19 59v 63 to 25v73v 18vi  Offutt up on 2 of Mutt off f/4 up Tup vuotto a up Wunch of up /4 american Exchange new York up the 10 most Active stocks in american Stock Exchange composite trading thursday. Stocked Ploran co la Royal Oak mines Hasbro inc Echo say mine fruit of loom Ich Morphi Lihaven corp greyhound lines Nabors Industry Elan corp Pic salts1,503,700 1,045,100488,500 486.100432.000 386.800376,900 326,900304, too 303,900 lilt1 21-16 31v4 5 /47v4 5v4-3v 15 7 36v Nucho. Off 1-16off 1-16 off Vav off of i up up1,up v4 up i Dow Jones new York up do Jones closing Range of averages thursday High a Doit cmmt30 industrials 3455 64 3395.94 3422.69 up 10.27 20 transport 1583.57 1548.72 1572.29 up 16.1215 utilities 233.73 231.47 232.29 off 062 65 stocks 128025 1257.67 1269.70 up 5.67 americans Home buying ability hits highest Point in 18v4 years Washington a the ability needed to Purchase a median priced but jute Tia Nufi to lamer did to  i  t i. 1 i , finn ring and a fare As Well. An Index measuring their of a typical american family to buy a Home Rose in the fourth Quarter to its highest level in 18vi years boosted by Ris ing incomes and falling mortgage rates a group said Friday. The National association of realtors Home using conventional financing and a 20 percent Down payment. The median income in the fourth Quarter was $36,837. Thus half of the families in the nation earned 129.6 percent of the $28,418 in in come needed to Purchase a Home whose far g thei ability to buy a starter Home with an $87,900 median Price was just 84.9, meaning half of those families earned just 84.9 percent of the $27,837 income needed to qualify for financing. Still the first time buyer Index move said its housing affordability Index was median Price in the fourth Quarter was 129.6 in the october december period $103,400. The median Price in the same up from 79.8 a year ago. Up from 120.2 a year earlier and the High period year earlier was $99,100. A it. A _ .1 4 o 1_ _ a a _. A a \ Flor test since it measured 127.8 in the april june Quarter of 1974. The Index measures the ability of a family earning the median income to Pur Chase a median priced previously owned Home. The median Means that half of the incomes Are More and half Are less or that half of the Homes Cost More and half less. When the Index measures 100, the me realtors executive vice president Almon Bud Smith attributed  creased affordability to lower interest the realtors said the affordability Gap Between the two groups measured 33.6 percent compared with 1992 s fourth Quarter Gap of 34.5 percent. Rates coupled with reasonable pricing by the Index shows that affordability is  becoming a reality for a growing number mortgage rates averaged 7.74 percent of first time buyers realtors president. J St a. I f o of. _ _ -. T a 44 t of .1 Dian family income equals the amount for ability Index. In the final Quarter of 1992, compared with 8.74 percent a year earlier. Almon also said an increase in median incomes from $35,939, added to the of William s. Chee said. However there still remains Many who find it hard to reach that dream of Home ownership be cause raising the Down payment is still so  president Clinton and japanese foreign minister Michlo Watanabe share a laugh at the White House on thursday. Clinton japanese discuss Trade troubles Washington a president Clinton and japanese foreign minister Michio Watanabe discussed rising ten Sions Over Trade thursday with no sign of resolving their differences. This is just the beginning of our relationship Clinton said posing for Pic Tures with Watanabe in the Oval office. The meeting had been billed As an introductory session but Clinton said they had a Little talk about  Japan s Trade surplus with the United states has soared to about $-44 billion creating pres sure on Washington to take a tougher stand toward Tokyo. Addressing reporters Clinton said minister Watanabe said he Felt that we should t be protectionist in our relation ship and i agreed. And i said i thought we had to bring the Trade deficit Down and that 1 would be working with him on it very  japanese officials have been saying for weeks that Tokyo will retaliate against any moves Washington might take to re strict Japan s Access to american markets. Before leaving Tokyo Watanabe said his government wanted to make its views known in Washington before . Policy decisions on Trade with Japan Are made in Tokyo . House speaker Thomas Foley warned thursday that threats of Trade retaliation by either Side could sour relations Between the new administration and Japan. Foley visiting Japan on a we Klong trip As head of an eight member congressional delegation told reporters that the two trading partners Are too dependent on each other to take negative Trade a  there s no doubt that the Trade Gap has become very Large said Foley d Wash but we need cooperation and a positive direction rather than threats of  Clinton said Watanabe agreed that the deficit should be narrowed. He Dis cussed some things that he thought would be done Clinton said without elaboration. Sears to spend $4 billion on Back to the roots rehab ii the new York limes in  candid meeting with Stock analysis thursday scars Roebuck and co. Announced that it would spend $4 billion during the next five years to give its 800 stores face lifts and to focus on Selling clothing accessories and make up. Just two Days after announcing a $3.9. Billion loss for last year the company de scribed How its plans to spin off its Finan Cial services and residential real estate businesses would help it shed almost 60 percent of its debt and add $1 billion to its Bottom line Over the next five years. In a fitting display for a company that is returning to its roots in retailing its corporate chieftains the chairman and chief executive Iedward a. Brennan the chief financial officer Edward m. Liddy and the vice chairman James m. Denny ceded Center stage thursday to a lengthy discourse on How the company plans to set its 800 listing stores upright. Wall Street approved of the company s plans sending its Stock Price up $1.50 thursday to $51.50, on the new York Stock Exchange. Analysts seemed charmed by Sears at tempts to expose itself to the world. For the first time they broke out of their stiff bureaucratic Mode said Wal Ter f. Lock president of lock associates inc. And a longtime Sears watcher. Hut lock cautioned that the resuscitation would take time. Sears based in Chicago has taken More Steps to change itself in the last six months than it has in the last six years unleashing a steady bombardment of announcements on its reorganizing moves. Most of thursday s presentation was devoted to Sears retail operations which will carry the weight of the corporation after it Sells its coldwell banker real estate unit this year and offers the Dean Witter financial services businesses to the Public. The company announced last month j that it would close the Sears Catalon operation this year shut 113 stores and Cut 50,000 employees from its payroll which should Send $300 million straight to the Bottom line