European Stars and Stripes (Newspaper) - July 29, 1993, Darmstadt, Hesse                                Page 12 the stars and stripes Money matters thursday july 29,1993 Nodars rates following Are fixed rates a which Community banking and credit Union facilities will sell for eign currencies to . Personnel for personal use German Mark 1.68british Pound 1.53 dutch Guilder 1.88 greek drachma230.6548 note tit rates above Appy it than tit arcs country. Figures a  in dollars to try British Pound Ottier currencies to tit Doltar following Are Interbank rate that fluctuate and should be regarded As the approximate value of the . Dollar to foreign Curren cies italian lira .1,604.50 turkish lira 11,398.20 Spanish peseta 140.80portuguese pseudo 175.75 austrian Schilling. 12.1375 saudi rial 3.75 Bahrain Dinar 0.3768 Kuwait Dinar 0.3014 norwegian Krone 7.3715 danish Krone 6.705 British Pound 1.4915 German Mark 1.7247 Swiss franc 1.515 French franc 5.861 dutch Guilder 1.9383 belgian franc 35.75 Canadian Dollar 1.2835 nets figures Are expressed in dollars to the British Pound other currencies to Trie Dollar Gow quote $391.80 an ounce Silver quote $5.08 an ounce new York Exchange new York up Trie 15 most Active stocks in nework Stock Exchange composite trading on tuesday Sam lib corp Beti Lehem steel us us steel or Merck a co inc Amer express co Kmart corp Wal Mart stores Rah Nabisco hid Wheeling Pitt Citicorp pkg Southern ind Philip Morristene folios de my Teneco Hie Chrysler corp satti6,259,900 5,449,3003,883,100 3,531,0003,462,800 3,087,9002,965.400 2,693,3002,654,900 2,553,5001,995,500 1,927.2001,819.000 1,793,500 1,755,900 ust4sh is31 to 32v34 20v25 5%12v 32 38 47h 50 48 44h  3 off 3voff4v in Choffy off Hoff offv.off2 Uphoff % Uphoff. Oft2v4off a american Exchange new Vork up the 10 most Active stocks i american Stock Exchange composite trading on tuesday. Stock Echo Bay mines inter Magnet Gen Royal Oak mines Baker Michael Amdahl corp Cheyenne Soffy Ronit of loom into Colin end Energy service Olsten corp Selea 1,501.300 1.288.300. 651.700 440.100 426.000 364,500359.700 332,600 317,700308,500 till13v 5v9v 5v33 29ft 2v426 /4 netcfcf.up1/  up off up Offit up up unch up Dow Jones new York up Dow Jones closing Range of averages on tuesday High to Clou Chaisim 30 industrials 3604 86 3533.60 3565.48 off 2.24 ?0 transport 1603.77 1572.14 1581.12 off 13.68 15 utilities 24947 246.31 248.35 off 0 53 65 stocks 3327.78 1303.02 13 3.29 off 4.39 faulty Brake levers Force bicycle recall Washington a Huffy Bicy Cle co. Is recalling nearly 14,000 bikes be cause their plastic hand Brake levers might break. The bicycles bearing the Huffy or Sears free spirit trademarks were being voluntarily recalled for refitting with free replacement Brake levers. The potentially defective Brake levers were installed on men s and women s 20-Inch, 24-Inch and 26-Inch bicycles made Between feb. 17 and March is. Consumers can Contact the company or take the bicycle to the nearest authorized dealer for free replacement of the Brake lever. In i i i a i ii ii. I i ism reports $8 billion loss. ,. Amid restructuring staff cuts kit?\1/ it of / a t \ ft3%jf a i a k,f12 t4h 4�tmmmm of to of.  a it Al 2e� fee 1 new York a ism reported record $8 billion quarterly loss tuesday reflecting the expense of slashing its once sacrosanct staff and finishing one of the largest corporate restructurings i history. Most of the loss came from the Cost of paying 85,000 employees to depart by the end of next year. That is More than 25 percent of its current work Force and will leave ism at roughly half the size of its mid-1980s Peak. The announcement gave striking Clar Ity to the magnitude of changes International business machines corp. Is making to remain a Leader in the fierce Market for computers and technology  s earlier estimate was simply that More than 25,000 employees would leave this year. The company s Board of directors also Cut the quarterly dividend from 54 cents to 25 cents the second time this year that they have Cut the payout to shareholders to save Money. Continental cuts Deal with air France Houston a Continental air lines and air France signed an agreement tuesday to blend schedule Sand share passenger Check ins a move that gives each Carrier Access to Airport across the Atlantic. Under the agreement which should Bein operation april 1, the carriers also will share frequent flier programs Exchange executives and share ground maintenance Crews. The companies also will have joint advertising promotions and tour packages. The move gives Continental Access to european Middle Eastern and some asian airports served by air France an gives the French Carrier Access to Continental s american hubs. The move should make flying More convenient for passengers said Robert l. Fer Guson i president and chief executive officer of Houston based Continental. Passengers will be Able to Check in to final destination and get seat assign ments boarding passes and baggage handling for both carriers. Ferguson denied that the agreement was necessary for Continental to survive adding that it was helpful but not  Continental recently emerged from it second bankruptcy in a decade. Air Canada half the investment Tea that put $450 million into Continental to in addition the chairman and chief executive officer Louis v. Gerstner said he would not name a president and did not want to be bogged Down by its culture of committees and presentations. It washes broadest assessment of ism s trouble since he became its Leader 3vi month ago. I m not spending a lot of time on Structure Ana the process of ism Gerstner told a news conference. I spending a lot of time on customers employees technology and the economics  it was an extraordinary Day in an extraordinary year for ism the United states fourth largest Industrial company and the largest computer manufacturer in the world. T declining Revenue from mainframe computer sales had worsened losses and forced ism to Lay off workers this Spring the first layoffs in its 79-Yearjustory. I addition ism s Board replaced the chief executive John f. Akers with Gerstner the first outsider brought in for the Post. The quarterly loss is the biggest Ever for ism and second Only to the $21 Bil lion loss general motors corp. Reported in the fourth Quarter of 1992. = Erstner s decision to Deal with All of Bim s potential restructuring charges in one Quarter was one of his biggest so  we be got to try to get behind us this chinese water torture we be been going through Quarter after qua Ter year after year Gerstner said. We be got to get our problems behind  investors applauded. Ism Stock Rose $3.25 to $45.62vi, a 7.7 percent climb on volume of 6.25 million shares the most Active on the new York Stock Exchange. It s Clear that Gerstner is trying by the december Quarter to stabilize ism and to put company Back to work Between now and then said Mark Stahlman an Industry consultant in new York. He had to try to drop As Many shoes at once to jump Start the  Robert l. Ferguson in left president and chief executive officer of Continental airlines talks with Bernard Attall chairman of Groupe air France in Houston on tuesday. Help the Carrier out of its latest bankruptcy already has a marketing arrangement with air France. Air France has a similar arrangement with Aero Mexico. But Ferguson and Bernard Attali chairman of Groupe air France said there would be no immediate code Shar ing an Industry practice that allows air lines to promote and sell two leg flights As if they were on a single Carrier. Continental serves 146 airports 88 of them in the United states. Air France serves 228 airports in 109 nations including nine cities in the United states. Ferguson and Attali said no govern ment approvals were needed for the Deal which had been under discussion for about a year. German Bank eases Money Market rate Bonn Germany