European Stars and Stripes (Newspaper) - February 20, 1993, Darmstadt, Hesse                                Page 16 tic stars and j Money matters 1 saturday t abrupt y it i today states following Are fixed rate at which Community banking and credit Union facilities will sell for eign currencies to . Personnel for personal use Garman Mark. F .60 British Pound.1.49 dutch Gul Ldar. I.7f Graak drachma. 214.1970 note to rat Titow App non few Hod country. Figure a my remd in domn to the Brt Tith Pound Owr our Nam to Tow do Fly following Are Interbank rates that fluctuate and should be regarded As the approximate value of the . Dollar to foreign Curren pics italian lira. 1,860.00 turkish lira 9,079.30 Spanish Patata. 117.25 Portu guava escudo. 149.s3 austrian chilling. 11.505 saudi rial 3.7501 Bahrain Dinar. 0.37675 Kuwait Dinar. 0.30645 Norw Aglan Krona. 6.952danish Krona. 6.272 British Pound. 1.4555 Carman Mark. 1.634 Swiss franc. 1.5025 franch franc. 5.553 dutch Guilder. 1.8405 belgian franc. 33.62 Canadian Dollar. 1.2568 9 Noto figures Are expressed in dollars to Tho British Pound other currencies to the Dollar Gold quote $330.75 an ounce. Silver quote $3.65 an ounce. New York Exchange new York up the to most Active stocks in Newyork Stock Exchange composite trading on thursday. Stock or Nabisco hid student in Molg Merck & co in Chrysler corp Glaxo holding Philip Morris Citicorp Bristol Myersq general  de my Johnson & Johns genl electric Wal Mart Stor Sptizer inc Pacific top Sain lift nitchg.5,423,800 bv4 Inch 4,422,900 47/4 off 944.232,500 37k 37v4 19h70h 24v.56v 3,842,0003,829,100 3,246,3003,238,400 3,012,3002,915,800 2.838,2002.565,600 2.445,400 putt five up a pfc 49h 41 i 81 i off1vctnvt 2,434,600 61%2,394,500 59v4 2,347.600 17 a off Offutt ofp/4off i american Exchange  new York up the 10 most Active stocks i american Stock Exchange composite trading thursday. Stock Silt in Energy service t,256,400 1tt unc Hill Haven corp 1,092,700 31-16 off 1-16interdgtl comm 627,900 to up it  571,900 30v up Royal Oak mines 498,400 21-16 or f-16 Hasbro inc 426,800 30 up ibo Bay co 413,800 29v up1/. Emptor Tancola 393,500 15-16 up m6echo Bay mines 372,700 5 Tunch Ivi corp 339,000 23tt up Dow Jones new York up Dow Jones dosing Range of averages thursday High us Clou cfcirm30 industrials 3362.93 3262.48 3302.19 off 10.00 20 transport 1528.17 1470.36 1486.67 off 11,8915 utilities 23404 230.16 231.47 off 1.25 65 stocks 1248071210.221223.29 off 6.09 recovery gaining momentum government statistics indicate by the Washington Post government reports thursday indicated thai the . Economy is surging ahead. The reports showed that factory output hit a new Peak last month new claims for unemployment benefits fell Early this month and the nation s merchandise Trade deficit declined to $7 billion in de Cember rather than rising As expected. For 1992, exports Rose $26.4 billion from1991, but imports went up a larger $45.4 billion As the year s deficit Rose to $84.3billion from the previous year s $65.4 Bil lion. It was the first increase since 1987,when the deficit hit a record $152.1 billion. The labor department also reported that consumer prices Rose 0.5 percent last month the biggest monthly Rise in two years. However experts said the increase did not signal an acceleration of inflation. The report on december s Trade balance and other recent data on the fourth Quarter have been considerably stronger than expected. Experts said the reports indicate the Commerce department is now Likely to revise its estimate for growth in the final three months of last year to around 5 per cent from 3.8 percent. What today s data mean is that the Gross Domestic product will be revised to Well Over 5 percent the financial Market research firm of Stone & Mccarthy in Princeton n.j., told its clients. Sam Kalian chief economist at Fuji securities in Chicago was Only slightly less upbeat. Between 4.5 percent and 5 per cent growth is certainly in the Ballpark said Kahan who expects somewhat slower but still Strong growth this  Commerce department said last month in its Advance estimate of fourth Quarter Gross Domestic product that it Rose at a 3.8 percent rate up from a 3.4 percent rate in the third Quarter after adjustment for  Gap is the total value at retail prices of All the goods and services produced by a nation Economy in a Given be  since the report was issued new data on business inventories and retail sales Aswell As the Trade figures Point to a much larger increase when the department issues scheduled revision Friday. No published data Point in the other direction. A figure for economic growth in the 5percent Range could raise new questions about whether the $30 billion package of tax Breaks and spending increases presi Dent Clinton proposed this week is still needed to Spur the Economy. Such an in crease would be the largest quarterly risen five years. Office of management and budget director Leon e. Panetta told Washington Post reporters and editors thursday that the stimulus is needed As insurance against another dip in the  you Don t try to do something immediately with the Economy. You Are Tak ing one hell of a risk he said. Thursday s reports pointed to sustained growth in the first part of this year. The Federal Reserve said production of the nation s factories mines and utilities Rose 0.4percent in january with higher car and truck output leading the Way. The gain occurred despite a Sharp 1.3 percent drop in Utility output most of which was weather related. The increase pushed the fed s Index of Industrial production to a High of 111 from december s 110.5. The Index reached 1106in september 1990 Early in the 1990-91 re cession before failing sharply. The labor department also said initial claims from unemployment benefits fell by 19,000, to 321,000, in the week that ended feb. 6, an indication that the labor Market is improving As employers hire workers to meet rising demand Tor goods and serv ices analysts said. The faster Rise in the consumer Price was widespread. Every part of the con Sumer Price Index showed a bigger in crease than in december when the Index increased Only 0.1 percent. For instance apparel and Energy prices both of which dropped in december Rose 0.8 percent and 0.5 percent respectively last month. But experts said the january Rise was Likely to be Only a Blip. It was a beginning of the year phenomenon said Kahan of Fuji securities. It is not an indication of a Start of an acceleration of  in the report on december Trade the Commerce department said exports Rose $1.5 billion to $39.7 billion while Export increased $1.1 billion to $46.7 billion. The deficit for november reported earlier at$7.6 billion was revised to $7.3 billion. Boeing to Cut 27,000 employees says rebound at least 2 years off Seattle a Boeing co., reel ing from plans to Cut nearly 20 percent of its work Force says a turnaround is a least two years away. The struggles of the commercial airline Industry hit Boeing hard thursday Ashe world s biggest. Air plane maker announced that de Clining production will prompt it to Cut 27,000jobs by mid-1994. The cuts will be accomplished through Resig nations retire ments other Attri Tion and  the cuts follow a reduction of 9 percent or 14,249, last  latest cuts Are still less than the 35 per cent reduction in Boeing employment Dur ing the Early 1980s and Pale beside the 65 percent crash in 1969-71.Boeing joins a growing list of big Ameri can companies that arc making major reductions in their work forces. Lax demand for air plane tickets and continued fare wars have Cut deeply into the profits of major airlines prompting them to reduce plans for purchases or leasing of new planes. Asked when a turnaround might come Boeing chairman Frank Shrontz said i m certainly hopeful in the next two years. But we have a Lon ways to  airlines that have delayed or cancel orders and options for Boeing planes in recent months include the Irish base leasing company spa United airlines and Japan air lines. Job reductions at Boeing were widely anticipated after an announcement Jan. 26 that production was being Cut by 35percent Over the next 18 months. The company said it plans to Cut 22,000jobs this year. Those cuts will include a 15,000 jobs in the puget sound,wash., area. A 6,000 in Wichita  300 each in Philadelphia and Hunts Villa Ala. A 250 in Portland  and 150 at other locations. Boeing spokesman Harold Carr said a additional 1,000 jobs were being transferred to another government contractor Dyn Mcdermott for management of strategic Petroleum reserves in Louisi Ana and Texas. Boeing plans an additional 5,000 Job Cutsin the first half of 1994 an expected 4,000 in Washington and 1,000 in Wichita. The announcement came a week after Boeing issued 60-Day Layoff warning notices to 1,000 employees in Wichita. Boeing assembles All of its commercial jets in the Seattle area. Each two lost jobs from Boeing mean about three More  lost at other employers in the Region. A statement issued by Bill Johnson president of District Lodge 751 of the machinists Union said the Union would do everything we can to minimize the effect and ensure that the layoffs occur in accordance with our  pain Webber settles Sec Case alleging sales abuses Washington a pain Webber inc. Won the Able to take any new customers at five Branch offices for a month under a settlement of a government complaint that alleged abusive sales practices in an administrative action thursday the securities and Exchange commission accused pain Webber of failing to properly supervise employees at offices i Birmingham Ala. Beverly Hills Calif. Northbrook 111. Oakbrook Iii. And Houston. Without admitting or denying wrongdoing pain web Ber agreed to Settle the charges and to submit to a 30-Day ban against opening new accounts at the five offices. In addition pain Webber must hire an outside consultant to advise the firm on handling sales practices and conduct training seminars for All supervisors and manag ers at Branch  Grano president of retail sales and marketing for pain Webber noted that the alleged wrongdoing involved Only six brokers out of 5,100. We re very sorry that a few people within our organization have caused the Sec to take such enforcement action he said. We entered into the agreement wit the government because we support their efforts to protect the investing Public. Neither pain Webber nor the Public should or will tolerate any misconduct on the part 46ny  the Sec said that Between november 1986 and june1988 pain Webber account executives at the offices engaged in abusive practices that included misleading clients about the riskiness of sonic investments stealing Money from customer accounts and Selling unsuitable in vestments. In the Birmingham office one employee was accused of buying blocks of Index options and then allocating profitable trades to his own accounts and losing trades Toto customers. An employee at the Beverly Hills office was accused ofstealuig$114,500fromthreeofhiscustomers. In Northbrook an account executive was accused of aiding the improper Sale of restricted Stock by a customer. None of the account executives was identified by the Sec. The investigation is continuing said William my Ucas head of the Sec s enforcement division. This mat Ter puts the Case against the firm behind the commission for now but you should not assume that because the individuals Are not dealt with today that this is the end of it