European Stars and Stripes (Newspaper) - August 04, 1993, Darmstadt, Hesse                                Wednesday August 4, 1993 Money matters the stars and stripes Page 13 of today s rates following Are fixed rates at Mich Community banking and credit Union facilities will sell for eign currencies to . Personnel for personal use German Mark 1.66 British Pound 1.54 dutch Guilder 1.87 greek drachma 232.5663 Nota  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 to foreign Curren cies italian lira 1,601.50 turkish lira 11,439.90 Spanish peseta 140.10 portuguese escudo 174.25 austrian Schilling 12.045 saudi rial .3.75 Bahrain Dinar 0.3768 Kuwait Dinar 0.301 norwegian Krone 7.389 danish Krone 6.835 British Pound 1.498 German Mark 1.7144 Swiss franc .1.5035 French franc 5.9848 dutch Guilder 1.9235 belgian franc 36.65 Canadian Dollar 1.2885 note figures Are expressed in dollars to the British Pound other currencies to the Dollar Gold quote $404.95 an ounce Silver quote $5.41 an ounce new York Exchange new York up the 15 most Active stocks in Newyork Stock Exchange composite trading on monday. Stock sales last net  & co inc 4,124,300 30 v pvt general motors2,797,400 49 % up 11/i Chrysler corp 2,328,500 44 to up Sunshine mining. 2,284,400 3vi up v4citicorp pop 2,198,600 19 to up i Bristol Myersq 2,145,000 53 a offt student in mtg 2,053,000 49 a up 1 % Ford motor co 1,997,200 54 a up1v4citicorp 1,876,200 33 v4 up Johnson & Johnsn 1.674.700 37 to up . 1,671,000 20 i up Philip Morris 1,619,900 46% Olav  1,617.700 5 i putt Glaxo holdings 1,547.300 15 off Virr Nabisco hid 1.542,500 5 unch american Exchange new York up Trie 10 most Active stocks in american Stock Exchange composite trading monday. Stock sales last net chg. Echo Bay mines 1,637,200 14 it Uncle Royalo amines 1,133,500 5v4. Ofutt Energy service 558,400 3  394,200 14 /4 of�2rt fruit of loom 392,300 29. Up a Siphar malnic 381,600 18 up 2 new York times 315,500 25 to up a Kemlo Gold mine 274,900 12 /4 upv4 Edisto resource 274,000 11 up 1hich corp. 263,300 5 it up a Dow Jones hew York up Dow Jones closing Range of averages on monday. High Low Clou Arian it 30 industrials 3578.32 3524.94 3560.99 up 21.5220 transport 1625.57 1600.35 1614.24 up 0.43 is utilities 251.98 248.55 251.45 up 1.4565 stocks 1330.25 1310.43 1323.50 up 5.55 Little growth in Economy by . Indicators Washington. A the govern ment s chief economic forecasting gauge edged a barely perceptible 0.1 percent higher in june signalling an anaemic performance ahead. The Ever so slight Rise in the Index of leading indicators reported tuesday by the Commerce department followed a 0.4 percent drop in May. It also continued the Index s Seesaw behaviour since the Start of the year. The Index also fell in january and March but it Rose in. February and april. The leading indicators Are basically Flat. That pretty much describes the Economy As Well. We re still growing but airlines say taxes rules hobble them Washington a the ailing airline Industry needs Relief from taxes and burdensome regulations if it is to re turn to profitability a presidential com Mission says. The panel directed by president Clin ton four months ago to examine the eco nordic problems of the airlines concluded in a final report monday that the Industry has been hampered by govern ment regulation uncertainty about the air traffic control systems and excessive taxes. V the commission s findings were re leased coincidentally As Congress was considering imposing an additional 4.3 cent a gallon fuel tax on the Industry As part of its deficit reduction package. Lawmakers were debating whether to exempt the airlines rom the tax. The commission headed by former Virginia gov. Gerald l. Dailies urged Congress not to impose new taxes on the Industry which Ever the last three years reported $10 billion in losses with no sign of a Quick recovery. At a time when the United states is looking for ways to strengthen the airline Industry an additional tax seems ill advised the commission said. The 15-member panel included airline and aerospace executives Union officials and financial and Legal experts. The panel said that the airline ticket tax which was increased three years ago should be rolled Back from 8 cents to 5 cents and that the airlines should be Given other tax Breaks to help their re covery. American airlines to Cut 3 european routes in fall Dallas Texas a american airlines inc. Plans to suspend service on three routes Between the United states and Europe this autumn predicting even worse performance from the weak routes once summer ends. The affected routes Are Dallas fort Worth and Madrid Spain. Dallas and Brussels Belgium. Chicago and Berlin. The Madrid route which  operated since May 1988, will end nov. 1. The Brussels route launched in april and the year old Berlin flight will end oct. 1 these routes weren t contributing to the company As strongly As they could have a spokesman said monday. We re just not getting much momentum said economist David Wyss of Dri Mcgraw Hill a forecasting service in Lexington mass. The Index is designed to offer a sense of the Economy s direction six months to nine months in Advance with three consecutive movements in one direction considered a Good although far from fool proof bellwether of future activity. Analysts have been disappointed by the Economy s performance this year and Many have been scaling Back their fore casts for the second half of 1903. The Economy As measured by the Gross Domestic product crawled Forward at a 0.7 percent annual rate in the first Quarter and picked up Only to a 1.6 per cent rate in the second Quarter the Gap is the sum of All goods and services produced within . Borders. Economists still expect an improvement during the second half of the year but Only to a rate Between 2 percent and 3 percent. The Economy is under performing relative to expectations said economist Lawrence h. Meyer who runs his own forecasting firm in St. Louis. There s a feeling of softness to it. We re really limping into the third  in june six of the Index s Forward looking indicators were positive. Five were negative. Donna Augusta a software Engineer for Apple computers inc., displays the new Newton personal digital assistant monday in Boston. Apple Hopes Newton will ease Gravity of firm s financial state by the Washington Post Cupertino Calif. It is the size of a paperback Book and weighs 14 ounces. But Apple computer inc. Hopes its first personal digital assist ant will be big enough in the Market place to help pull the company out of crisis. The device which Apple introduced monday in Boston serves As digital scratch pad address Book fax machine and portable computer in one. The first of the line known a Newton has been three years in development and redesigned several times As technology rigged and tagged. It will go on Sale next week priced in its simplest form at $699 to $749. For Apple Newton will reach the stores not a moment too soon. The company that forever changed How the world uses computers is going through one of the most wrenching periods in its 17 years. It lost $188 Mil lion in the Quarter that ended june 25. It is laying off 2,500 employees about one in six. Growth of its macintosh line of computers has slowed. Reorganization and new products will restore the old Luster the company promises but Many analysts feel the Steps Are coming too late. There was a sign saying Slippery when wet but they just kept driving said Jef Frey Henning of the Market research firm Bis strategic decisions. Apple is betting its future on products for which there is Only hypothetical demand. Although no one predicts the company s collapse some analysts feel it risks being marginalized by launching ill conceived attempts to reinvent the  the Newton for instance Crew from chief executive officer John Sculley s belief that americans by the millions will soon carry such devices. Capable of transmitting and receiving conversations text data and eventually even video images personal digital assistants will mean that every one can be in touch All the time. Manufactured for Apple by Sharp corp. Of Japan the device has been circulating in secret raising eyebrows. Vice president Al Gore last week was spotted at a White House technology Snow running an Early unit through its paces for an intent student. President Clinton. Apple also has looked hard at ways to get into the much predicted information highways big bore data Cir Cuits that would carry a flood of video data and talk on demand