European Stars and Stripes (Newspaper) - February 24, 1993, Darmstadt, Hesse                                And fim of will it to pm nor. ,., i fat Foft pour. 1 Delte gtd Tater. T to fallowing arc Interbank rates that fluctuate and should be regarded As the approximate value of the  Dollar to foreign Curren cies italian lira. 1.mo.m Turkla lira a. 9,07740 Spanish Patala.  Portu guava Acudo. 149.97 aunt plan Achl Llang. 11.41 saudi rial. 3.7499 Bahrain Dinar. 0.37675 Kuwait Dinar. 0.30690 norwegian Krona. 9.94 Danyah Krona. 9.2525 British Pound. 1.4590 Carman Mark. 1.9239 Swiss franc. 1.4915 franch franc. 5.513 dutch Guilder. 1.919 belgian franc. ,33.42 Canadian Dollar. 1.2542 note figures Ere expressed in Dollar to the British Pound other currencies to the Dollar Gold quote $329.75 an ounce. Silver quote j3.55 an ounce. I new York Exchange i new York up the 15 most Active stocks in new Yirk Stock Exchange composite trading on monday. So pfc Sain Tat  Morris 9,444,000 64tt offs i Fleetwood enter 7,080,600 42% up British petrol 6,960.000 48 a plot Rwjr Nabisco hid 6.950,500 8 off a Merck & co inc 4,903,300 36vk Ottto Bristol Myersq 4,75t,600 53 i cffv4johnson 4 Johnsn 4.1t9,boo 39v ohm Citicorp .3,480,500 25v offv4abbott labs inc 3,274,200 23v off Glaxo holdings 3.058,000 1flv off vim Ylan labs inc 2,994,600 25% off4. Pfizer inc 2,898,700 54 off vital Mart stores 2,872,100 60vi Otto. Beverly ent Erpf 2,660,000 10 o1virjr Nabisco p1p 2.595,500 9% of i american Exchange j new York up the 10 most Active stocks i american Stock Exchange composite trading monday. Keck sales Tail not Chi. Hillham Kencot -1322 5 Kim corp 894.100 20% off Weatherfor Dunc 863.300 8 up Royal Oak mines 767,600 2vi. Up 1-16 Forest labs inc 585.500 27w o4%elan corp pc 385,100 26v4 of Zvi Devon Energy 376,600 19h  of loom 368,900 46 up.1v Usbie science 368,700 7 ov4echo Bay mines 359,900 5m Uncan Dow Jones new York up of Jones dosing Range Olav rages monday High Low Clou chinoe30 industrials 3367.30 3297.06 3342.99 up 20.81 20 transport 1502.59 1471.97 1491.71 up 3.42miles 241.24 234.04 240.61 up 6.01 it stocks 1248.28 1220.61 1240.19 up 9.87 to be from Gra Horary to Lun a f Frt Furni $2 % tin the com Mutt Divri of mint prow ant it cupe in a to be a i to  Wjk but til Irader a wars of the wort will for Iep Pofar and i be it Likely in in i u the nation � 20 i Ryt to a re inf to the f to rim in erf lion inf and turn oort no Ftp u by d in iv90 a Niue it Urei Fin Pohil Ihn Htun the tit Miu it Doe not Induc nth Iii a Annj to tic a res Hie ankh Inu arc roughly 60 of above the Grant Money City would normally get through to Muu it lot Ang a �4 noun t of co imm Mcm 4 Housmon a t mm0n $41 ten 00o Mamion 11 a Nom Umit we Rudoi is by we Tea fwd to to Minkon i claim but ? ii my Phu. 1nn m Mon 1t a Tymkin a Torton-l4mmlon full time positions available that s always the problem when you talk about Job creation Nail said. They could be Low to Mode talc income jobs service workers. The monies could be used to support existing staff. Stilt regardless of the types of jobs there will be a Ripple effect on the  housing Secretary Henry a Cisneros said he wants to make sure the cities use the Money for new jobs rather than other needs. There s been some suggestion that our regional offices might play a greater oversight role in making sure that the projects Are jobs oriented he told re porters last week. William Althaus mayor of York pa., and president of the . Conference of mayors said local leaders arc committed to creating jobs As Clinton wants. I personally assured the president in our meeting a week or two ago that we understood. That a responsibility had been Given to us to deliver important projects and deliver jobs and that we would meet that commitment Althaus said rep. Charles b. Rangel . Who represents an inner cily District said hell be watching to see whether the Block Grants Are spent As promised. He noted that during president Lyndon b. John son s administration some cities spent Job training Grant Money on City employees. We be Hud this problem before. But it s not going to happen this time rang cd said. They re going to have to show that they la hire new pro pc. It was made abundantly Clear that we re talking about new jobs and not just subsidizing old  Clinton aiming for tax changes to be equitable document says by the new York times Washington fairness was a major consideration behind Many of president Clinton s proposed tax changes including one to end deductions of country club dues As a business expense a Treasury department document says. A draft of the document to be made Public today also shows the administration has put intricate restrictions into its tax Breaks for business including the new credit on investment in equipment to prevent corporations from exploiting them. The draft provided by someone out Side the Treasury department said de ducting country club dues was unfair be cause activities at such clubs involve a significant Clement of personal pleasure enjoyment and social  the department also picks up Clinton s language in explaining the decision to re Duce the percentage of business meals and entertainment expenses that can be deducted to 50 percent from 80 percent. The department says the new limit is desirable because there is a portion of these expenditures that is inherently per Sonal in  the document known As a Blue Book Aims to help legislators accountants and other tax experts understand the rational and details of Clinton s tax proposals. It also stresses fairness in explaining Why the administration has proposed Lim iting to $1 million the deductions corporations May take for nay to an individual executive unless the  is linked to productivity. The department says it s wrong a for the government to provide companies with unlimited deductions for executive  especially when Many companies arc not doing Well and the we Cosof Many worker shave not kept up with inflation. Many people have complained about the tax proposals including restaurant owners corporations and highly paid executives. For example restaurant owners worry that further restricting deduction for business meals could harm their lunch business. Companies assert that increases in their taxes will make them reluctant to  the executives say the free Market should determine compensation without intervention by the government. But the Treasury department report took a different View of executive . This unlimited tax subsidy is particularly troubling in Light of concerns that in some cases the compensation paid to corporate executives has increased despite a the clinic in business performance it said. It added that current Law does not pro vide sufficient incentive for corporations to link compensation to business performance. The new proposal Aims to create a Strong incentive fur companies to Lin compensation to productivity. Sears Sells 20% stake in Dean Witter for $796 million by the new York times Sears Roebuck and co. Sold 29.5 Mil lion shares of its Dean Witter brokerage firm subsidiary monday at $27 a share or$796.5 million As part of its plan to concentrate on its Core retail operations. Demand for the shares was so Strong that Over the weekend underwriters in creased the Price Range for the offering to Between $25 and $27 a share from an initial Range of $23 to $25. The shares which include the discover credit card operation were priced after the close of the new York Stock Exchange where they will begin trading monday. Morgan Stanley & co., one of the Lea managers on the Deal acted As Independent pricing agent. Dean Witter Rey nolds inc. Acted As Lead manager for the underwriting. An additional 4.3 million shares of the Stock could potentially be offered to the Public if the Stock performs Well once it is freed up for trading investment banker said. If those shares Are sold it would raise the proceeds to More than $910 Mil lion which would be used to capitalize the new company. Monday s offering represents 20 per cent of the company that will be know Nas Dean Witter discover & co. Sears which bought Dean Witter in1981 for $661 million in Cash and Stock will spin off the remaining 80 percent to Sears stockholders in the form of a dividend within he next three to four months. Analysts said they were not sur prised that demand for the new Dean Wilter shares was so Strong. The company has done Well Over thelus four or five years said Perrin 11. Long a securities Industry analyst at i isl of Michigan corp. In Detroit. Not Only do they have a top notch retail brokerage operation but Thev also have the discover card which is the largest retail card a the  the new shares based on anticipated Dean Witter earnings of be tween $2.50 and $2.65 a share this year were priced at about 10 limes earnings Long estimated