European Stars and Stripes (Newspaper) - February 19, 1993, Darmstadt, Hesse                                Page 12 b the stars and stripes Money matters Friday. February 19,1993 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 Gerr nun Murk. 1.61 British Pound 1.47 dutch Guilder 1.80 greek drachma 213.30 note the rates above apply within the hos 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 Curren cies italian lira 1,556.00 turkish lira 9,068.70 Spanish peseta 117.44 portuguese escudo 149.71 austrian Schilling .114175 saudi rial 3.7495 Bahrain Dinar .0.37675 Kuwait Dinar 0.30685 norwegian Krone 6.964 danish Krone 6.278 British Pound 1.446 German Mark. 1.632 Swiss franc. 1.5085 French franc. 5.5275 dutch Guilder 1.8375 belgian franc. 33.70 Canadian Dollar. 1.2593 note Al Guam Are expressed in dollars to the British Pound other currencies to the Dollar Odd quote $327 to an ounce Silver quote $3.65 an ounce i new York Exchange i new York Aupi York Stock Exchange  Pimp Morri Chrysler corp Citicorp Bristol my so  holdings  motors Johnson it Jhn Wimprine Wal Mart stores Hewlett Packard Abbott labs  Thi 15 most Active stocks in new composite toting on wednesday. Sata list notch. 4.587,200 37 i off 3.601.500 70v pvt 3,462,600 36 a lip 2 3.233.400 24 off�4 2,955.400 57 h up?4 2,730.500 49 a off1v4 2.678.100 19 putt 2.641.100 24% offt 2.617.400 39 h up 2,607.400 42. Off 2.442,100 59v. Oft i 2,318.700 62 v4 off 2.313.500 72 v4 up 4% 2,276.700 25 % off 2,158.700 4 pvt american Exchange new York up the 10 most Active stocks i american Stock Exchange composite trading wednesday Slock sales last  Oak mines 997,700 2vfc up 1-16 Hasbro Kic 920,900 29 a off Millhaven corp 834.600 3 it off 3-16 Elan corp Pic 763,800 30 cff2vecho by mines 539,400 5t unch re corp 424,600 23 off 1expkxatncou 373.300 1 it Upl-16  249,500 7  236.300 7v4 putt Amdahl corp 227,200 7v putt Dow Jones new York up now Jones closing Range of averages wednesday Fofi lev close change30 industrials 3338.12 3273.56 3312,19 up 2.70 20 transport 1523.34 1476.80 149856 off 16.9215 utilities 233.22 229.97 232.72up1.67 65 stocks 1241.29 1213.89 1229.38 off 2.31 markets rally in response to Clinton s economic plan by David e. Kalis ii a business writer . Stocks got off to a Strong Start thursday and Long term interest rates fell As investors had their first Opportunity to react to full details of president Clinton s economic plan. The Dow Jones average of 30 Blue Chip stocks Rose More than 30 Points in the first moments of trading but fell Back to an increase of about 12 Points by late morning. Broader Market measures also Rose. The Dow fell 83 Points tuesday and the Market was a narrowly mixed on wednesday after a televised speech by the president monday night outlined the plan without giving full details. Clinton further spelled out his plan for a mix of fax hikes and spending cuts in a speech before a joint session of Congress on wednesday. Deficit wary Bond investors pushed yields on Long term Treasury Bonds Down to just More than 7 percent thursday morning from 7.10 percent late wednes Day. The lower yields Are a sign that More investors Are confident the Federal deficit will be reduced. Markets overseas had a More subdued reaction to the president s plan. The Dollar Rose on global foreign Exchange markets and Stock prices finished mixed in Tokyo and begin the Day higher in London. On the Tokyo Stock Exchange the nikkei Stock average fell 27.49 Points to 16,982.14. But a broader measure the. Tokyo Stock Price Index finished virtual wednesday s trading ends on the floor of the new York Stock Exchange. Analysts attributed losses to concerns about Clinton s economic plan announced that night. In unchanged. More than five stocks Rose for every four that fell. Share prices were higher at midday on the London Stock Exchange where the financial times Stock Exchange 100 share Index was up 36.5 Points at 2,850.5. In foreign Exchange trading the Dollar Rose 0.72 japanese yen to 119.97 yen after sinking to a record tying Low wednesday in Tokyo. As trading moved to Europe the Dollar moved higher against most major currencies. In recent Days the Dollar has been a bit unstable on world markets on fears that Clinton s plan will increase the tax Burden and slow the . Economy. The worst for the Dollar is Over said Marc Chandler a Market strategist with the advisory firm idea. I think it will be seen by the markets As a generally Good  Market analysts cited two main con Cerns about Clinton s plan thai raising taxes for most americans will stall the economic recovery and that the cuts in government spending Are far less than envisioned. Complaint filed against Exchange chief by the new York times the commodity futures trading com Mission has filed a complaint against the chairman of the new York mercantile Exchange that accuses him of engaging in illegal trades that raised about $19 Mil lion to cover trading debts. The Chicago commodities firm of Ger Ald inc. And two other brokers were also accused by the Federal Agency of participating in the 1989 trades. A Public hear ing has been ordered on the charges against Exchange chairman Zoltan l. Guttman and the two other brokers. In a seven count administrative complaint the commission charged that the firm and the brokers engaged in non competitive trading did not produce re cords and violated financial and report ing requirements. Gerald inc. Consented to pay a $65,000 penalty and to desist from further violations under a commission order. The firm did not admit or deny the allegations. The commission said Harold Magid a registered floor broker of Harrison n.y., had acted for Guttman in the illegal trades. The Agency also said that another person Gary Glass of Merrick n.y., had been involved in the trades. The Agency charged that Magid Glass and Guttman had engaged in Wash sales fictitious sales and non competitive Trad ing. A Wash Sale is accomplished by buying shares of a Stock at one broker and simultaneously Selling an equal number of shares at another broker in order to make Trade in that Stock appear to be Active. The complaint said that beginning in 1988 or Early 1989, Gerald inc. Provided several millions of dollars in financing for commodity options trading in the tenant in common account of Magid and Gutt Man at Gerald inc. And in the personal account of Magid. At the same time Gerald inc. Asked that by the last trading Day of each month any substantial debt in the account be reduced or eliminated. The complaint said that from March through october 1989 the common account by Magid and Guttman and mag id s personal accounts had debits ranging from several Hundred thousand to several million dollars. To eliminate these debits the complaint said Magid acting for himself and Guttman entered into non competitive transactions by Selling options on sugar futures contracts. These contracts were sold to Glass on the last trading Day of one month and then bought Back from him on the first trading Day of the next month. Coke s Clear cola to make Early debut Atlanta a the coca cola co. Said wednesday it will introduce its new soft drink Tab Clear into 20 markets in March ahead of the company s schedule. Coca cola based in Atlanta said the diet drink was being introduced at an accelerated Pace because of positive con Sumer response in 10 initial markets where it began being sold last month. The drink s new markets include dal Las Denver Detroit Seattle washing ton Omaha neb., Little Rock ark., and Louisville by. The company said the drink should be available around the country by midyear. Oregon nuclear Plant closure leads to suit Portland Ore. Up Portland general electric co. Sued Westinghouse electric corp. On wednesday Over Alleg edly faulty equipment that caused the permanent closure of the 17-year-old Trojan nuclear Plant. The Utility filed the suit in . District court in Pittsburgh where Westinghouse is headquartered seeking damages Stem Ming from Westinghouse s design Manu facture and installation of steam Genera tors at the Plant. It said the steam generators delivered in 1972, contain serious defects in de sign material and workmanship and Are not suitable for operation for the 40-year expected life of Trojan. Westinghouse issued a Sharp denial of the allegations calling them politically motivated. It also said it has successfully defended itself against similar allegations by other operators. It is unfortunate that Portland Gener Al electric has chosen to waste millions of ratepayer dollars on Legal fees Over frivolous charges against Westinghouse rather than investing it productively said Nathaniel Woodson vice president of Westinghouse s Energy systems business unit. The Plant was opened in 1976 about 40 Miles Northwest of Portland. It was licensed by the Federal nuclear regulatory commission to operate until 2011. But voters tried several times to pass ballot measures that would have shut Down the facility and the Prospect of in creased costs led Portland general s management to decide last August to close the Plant in 1996. It then shut the facility in november following damage to a steam Generator tube. The Utility decided last month to close the Plant permanently after determining that it would Cost $200 million to make repairs to the steam generators that would have allowed Trojan to keep run Ning for four years