European Stars and Stripes (Newspaper) - August 07, 1993, Darmstadt, Hesse                                Pace 16 the stars and stripes Money matters saturday August 7,1993 today s rates following Are fixed rates a which Community banking and credit Union facilities will sell for eign currencies to . Personnel for personal use Goren in Mark 1.67 British Pound. 1.53 dutch Gull Dor. 1.87 greek drachma. 232.5785 note the rates above apply within the Host. Country. Figures Are expressed in dollars to Trie British Pound other currencies to the Dollar following Are Interbank rate that fluctuate and should be regarded As the approximate value of the . Dollar to foreign Curren " cies italian lira 1,606.25 turkish lira 11,521.10 Spanish peseta 139.40 portuguese pseudo. 173.20 austrian Schilling. 12.0375 saudi rial .3.75 Bahrain Dinar 0.3768 Kuwait Dinar 0.3010 norwegian Krone 7.392 danish Krone 6.78 British Pound 1.4905 German Mark. 1.7105 Swiss franc .1.509 French franc 5.9428 dutch Guilder. 1.9249 belgian franc. 36.05 Canadian Dollar. 1.292 note figures Are expressed in dollars to the British Pound other currencies to the Dollar Gold quote $381.90 an ounce Silver quote $4.67 an ounce new York Exchange new York up the 15 most Active stocks in be York Stock Exchange composite trading on thursday. Stock am Barrick rest Sunshine mining k Mart corp Home St mining Wal Mart stores Battle Man Gold Merck & co inc limited inc Chrysler corp Placer dome inc Rwjr Nabisco hid Bristol Myersq Grace or & co Citicorp Philip Morris Silti 4,910,100 4,547.900 4.334,700 3,870.500 2.775.100 2,583.000 2,573,600 2,307.100 2.173,500 2,066,900 2,053,300 1.856.1001,812,000 37v4 1,722,000 33v4 1.707.200 46 lift not Kcf. 24v off 2% 2vi off h 22vi up 18 off 1 25 pc 9v30v4 42 /4 19v 4tt 52h up offt Toff Ulvi off off1v Offutt off on 2vkoffvi Ofutt american Exchange new York up the 10 most a tit stocks in american Stock Exchange composite trading on thursday. Stoc Lecho Bay mines Royal Oak mines Pegasus Gold hello Gold mine Truo Bochem Elan corp Pic inter Tel common Road master ind Hill Haven corp Hasbro inc sales 4.213,900 3,560,800856,400 471,200 450,500448,600 399,100 395,600 338,500 315.400 lilt12v� 23k Nelcha. 0v4off i 29 /4 9v 3h31-18 37v4 0wupw unch of Tunch unch. Putt Dow Jones new York up Dow Jones closing Range of averages on thursday High Low Toie of tenant 30 industrials 3574.12 3523.54 3548.97. Off 3.08 20 transport 1610.19 1586.46 1592.87 off 1988 15 utilities 253.30 250.26 252.04 up 0.79 65 stocks. 1326.57 1308.02.1316.14 off 5.05 retail sales discouraging Soite discounts by the associated press the retail business stumbled through july with Many store owners taking i disappointing sales and others relying on deep discounts just to Post moderate in creases. Some retailers who announced monthly sales figures thursday reported sizable gains including Wal Mart stores inc.,the nation s largest store owner. But others including . Penney co.  Dayton Hudson corp., saw business stagnate or decline. Nothing to get excited about Washow Terence Mcevoy an analyst with Janniey Montgomery Scott inc. Describe last month s sales. He said Home electronics Sellers continued to do Well but apparel retailers struggled once again. In fashion there s no  re walking away in droves he said of shoppers. Analyst Jeffrey Feiner of Salomo Brothers inc. Said some retailers results were a touch better than expected but camouflaged by  retailers said they were Hurt by the continuing erosion of consumer Confidence and persistent weather problems including the Midwest Rains. At Dayton Hudson july turned out Tobe even weaker than we expected chair Man Kenneth a. Macke said. The com Pany s strongest division was its target discount stores but its Mervyn s clothing stores and department store division re ported sales declines. Sales at Ames department stores inc. Were affected in part by continuing uncertainty in the northeastern Economy said president Peter Thorner. The Salomon Brothers retail Index the investment firm s barometer of sales performance was up 5.7 percent in july Mac disappointing debut. Matt wisely of Acton mass., gives Apple computer s Newton Missag pad a try at the Mac world exposition in Boston on thursday. The Palm top computer which enter data via handwriting recognition was released this week. Wisely and other people at the show complained about the product s poor interpretive performance. A Newton de signer said the ill feelings were caused by the computer s not having a Chance to Lear individual writing styles which can take a couple of weeks of use. After rising 5.6 percent in june. In july1992, the Index Rose 6.4 percent Wal Mart the nation s largest retailer said sales from stores open at least a year Rose 9 percent from july 1992 while Over All business was up 26 percent. Sales from stores open at least a year known As same store sales Are consid ered the most accurate measure of a re Tailer s strength. They exclude the results of newer stores where sales tend to be extraordinarily High. Same store sales also exclude results from stores close during the past 12 months. Kmart corp. Said same store sales rose3.7 percent while Overall sales Rose 12.6 percent. Sears Roebuck and co. Said that same store sales Rose 15.4 percent and that Overall sales Rose 12.3 percent. Sea Sis rebounding from extremely weak 1992 sales. U.s., Canada Able to head off further Beer feud Washington a the United states and Canada Are calling a truce i their feud Over Beer Trade. Both countries agreed thursday to drop punitive 50 percent tariffs they imposed last year that had driven up the Cost of certain kinds of Beer by about s3 per  am extremely pleased that a settlement has been reached that will enable both sides to put behind us what has been a very difficult and protracted Dis Pute . Trade representative Mickey  said the agreement would allow american Beer to be sold in store throughout Ontario and other provinces and sharply reduce fees that had been charged for handling american , an environmental tax on Beer cans that the United states had also opposed will remain in  Beer War is Over said Canadian Trade minister Thomas Hockin who said the Accord would give wider Choice to Canadian  a memorandum of understand ing that both sides signed the unite states agreed to remove the 50 percent tariffs it imposed last year on Beer imported from Ontario and Canada agreed to scrap similarly High punitive tariffs i imposed on Beer manufactured by two . Companies the g. Heileman brew ing co. And the Stroh brewery  two companies had filed a complaint that prompted the unite states in july 1992 to impose new 50 per cent duties on Beer imported from Onta Rio. Cantons give control of assets to trusts Washington a president Linton and his family have turned Over control of their stocks Bonds and other investments to two Boston investment companies to avoid any potential conflicts of interest. According to a Trust agreement re leased thursday by the office of govern ment ethics the Clinton last month put assets valued at Between $295,000 and $1.26 million into three Blind trusts. The trusts were set up for the presi Dent first lady Hillary Rodham Clinton and their 13-year-old daughter Chelsea. Gold prices drop sharply in Panicky sell off new York a Gold prices in nearly three years tumbled $22 an ounce thursday in a Cha it was simply a Market that was Over Otic worldwide trading panic at least a a i � a i the extraordinary temporarily dousing speculative run up that has gripped the precious metals Market this year. Frantic traders dumped their Gold holdings for reasons that ranged from overblown fears of inflation to news that demand was weakening in China where the appetite for Gold had been particularly Strong. The sell off depressed Gold Back to the$377-an-ounce level in new York Corn bought and overextended said Danie Weissman a vice president at mob banking corp., a Gold trading concern in new York. The last time the Market weathered such a big one Day drop was during the persian Gulf War two years ago when prices fell about $.30 an ounce As  ground Effort to evict iraqi troops from Kuwait began. George milling Stanley precious met als analyst for Lehman Brothers inc. In pared with the $409-an-ounce level the new York said the collapse probably Metal reached last week for the first time spelled the end of the rally that began in january when Gold fetched less than $330 an  Gold sell off rippled into the Bond Market where prices Rose and interest rates fell in a sign of eased investor anxiety Over inflation. Gold historically has been considered an inflation hedge. The drop in Gold prices also affected the Stock Market where share prices Olarge mining companies plummeted. American Barrick among the most heavily traded issues on the new York Stock Exchange dropped $2.25 to close at$24.37v?. Home stake was off $1.50 at $19.25