European Stars and Stripes (Newspaper) - December 4, 1993, Darmstadt, Hesse                                Page 18 the stars and stripes Money matters saturday december 4,1993 a today a rates following Are fixed rates at which Community banking and credit Ufi Ion facilities will sell foreign currencies to . Personnel for personal use German Mark 1.68 British Pound a Aee a aet sea a 1.52 dutch Guilder 1,88 greek drachma 240.3122 not tit it a Sobov apply it than it it a heat country. Figuro or sir spam in dollars to tit British Pound other currency to the Dollar following arc Interbank rates that fluctuate and should be regarded As the approximate value of the . Dollar to foreign currencies italian lira 1,723.60 turkish lire 13,839.60 8panl�h peseta 141.06 portuguese escudo. 176.06 austrian Schilling  12.1165 saudi Riyal 3.7496 bahraini Dinar 0.3767 Kawahi Dinar 0.29866 norwegian Krone 7.473 danish Krone  of a St 6.788 British Pound a  Iee Yeeee 1.486 German Mark meet eee Yeeee eee eee a 1.7236 Swiss Frane  aaa iia 1.497 French Frane a Batees a aaa Aee Alae a 5.921 dutch Guilder 1.9312 belgian franc Kaaa Asaata is aaa aaa 36.32 Canadian Dollar  1.3283 not Algura a a pfc sed in dollars to the British Pound other currencies to the Dollar Odd quote 37275 an ounce. Silver quote $4,82 an ounce new York Exchange new York Dpi a Tbs 15 most in Lvi stocks in new York Stock exciting composts trading thursday Stock sates us not Chi. Limited inc 8 625,100 18w o�3h Hausam Konduct 6.145,400 15hw Oft 1 it Hanson Pic 4,455,000 19h o�1w Tel Fonos 0s my 3,149,500 57h Ulph Merck amp co inc 2.946,300 33h unch Wal Mart Storai 2,650,700 27 h off Avistar inti 2.555,000 22h up to Many go round 2,490,300 6v up1h at amp to company 2,094,000 54h up to ism corp 1,665,800 53vo up nation Bank 1,664,700 47vo up 0�yx Energy co 1,719,100 17h unch Chrysler corp 1,579,200 53v off a general motors 1,575,200 53v up to off Ford motor co 1,539,200 62vo e american Exchange new York us american Stock Stock Gaylord Contat atari Cor enter did comm Echo Ely mines Floyd Oak mines cheyennes Sotter fruit o loom Nabors Industry. Paulda holdings Amdahl corp a the 10 most Active stocks in hangs composes trading thursday. That net chs Nch 2,464,200 767.500 717,900 487.400 461,000 467.700 365.500 277.400 262.700 238,300 3h 7h 7 12 4v 32v 32h 7 3v 5v Uncan off Viup a a up unch up 1 off up a up unch Dow Jones j new York up a Dow Jones closing Range of averages thursday High lev class Chew 30 Industrial 3725 30 3674,17 3702.11 up 5.03 20 transport 1760.92 1749.30 1770.67 up 7.06 15 Wutte. 225.42 22219 224.62 up 145 65 Stock 1376.90 1356.05 1369.05 up 4.00 . Mortgage rates reverse recent Rise Washington a the average interest rate on 30-year, fixed rate mortgages fell to 7.25 percent this week the Federal Home loan mortgage corp. Said thursday. This weeks average was Down from a five month High of 7.31 percent the previous week. The average hit a 25-year Low of 6.74 percent in october but has been above 7 percent for the last five weeks. On one year adjustable rate mortgages lenders were asking an average initial rate of 4.31 percent up from 4.30 percept l�5  s jobless plunge Stokes Hopes for recovery Washington a the nations unemployment rate fell to 6.4 percent in november the biggest one month improvement in a decade and the most dramatic signal yet that the nations Economy is gaining momentum. The jobless rate was 6.8 percent in october and most analysts had expected a a j Quot big ii however two changes helped drive Down Little change in the november figure. The rate to its lowest level in nearly three years a a gain of 105,000 jobs in such service industries As health care finance and real estate. A and the second straight monthly improvement in the beleaguered manufacturing sector. _ the 0.4 percentage decline was the largest since a similar change in october 1983, when the country was pulling out of the worst recession since world War ii in other positive economic news the Commerce department reported that the governments chief economic forecasting gauge jumped 0.5 percent in october. It was the third consecutive increase and analysts said it was a Harbinger of continued growth in  year. Robert g. Dederick chief economist with Northern Trust co. Of Chicago said the Good gain in the leading Index showed Broad based growth in the icon omy and that coupled with the surprisingly Strong employment gains in november was evidence that the Economy is finally mounting a sustained recovery. A a what it tells us is the expansion has become self sustaining and is spreading through the Economy a he said. Quot i think we had a vigorous month in what is a moderate  healthy employment gains and the drop in the unemployment rate followed other reports showing strength in housing consumer spending and a big jump reported earlier this week in consumer Confidence. The number of unemployed americans fell by 534,000 last month leaving 8.25 million people still without jobs. A separate Survey of businesses showed a gain in nonfarm employment of 208,000, the Best showing since july. Manufacturing companies which had shed 256,000 workers since february added 30,000 people to payrolls in november., the government said the gains came in companies making such durable goods As automobiles furniture and electronic equipment. Construction employment increased by 27,000, reflecting an increase in Home building spurred by lower mortgage rates. However aircraft manufacturers and other industries closely associated with defense continued to lose jobs. As it has throughout the recovery the service sector continued to show strength accounting for almost half of the new payroll jobs. One of the service sectors biggest gains was in finance which picked up 27,000 jobs last month reflecting increased employment at Banks and mortgage brokers who have had to add jobs to process the flood of Home loan refinancing applications. Employment in health care continued to grow rising by 32,000. Virtually All the Sains came in doctors offices Home Calth care and other services outside hospitals. Analysts had expected continued vigor among service related businesses. Besides the factory Job gains the gov eminent said the average work week for manufacturing employees edged up a tenth of an hour to 41.7 hours a pos world War ii record. Factory overtime also was up a tenth of a percent to the highest level since the government began keeping those statistics in 1956. Brings $1.325 million eclipse tops bidding in bankruptcy auction new York a the lure of the world renowned pan am Brand once mentioned in the same breath As coca cola was Worth $1,325,000 in a bankruptcy auction. With Hopes that others will see pan ants Blue Globe and name As a valuable asset eclipse holdings inc. Of Rockville md., made the High offer among four bidders thursday. The group plans to charge others a licensing tee for using the defunct airline s trademark which had been a fixture on the new York City Skyline for nearly 20 years and a Symbol of the . Airline Industry. The possibilities Range from airlines to Luggage. A a maybe even pan am to shirts a said David h. Lockwood president of eclipse shortly after  bankruptcy judge Cornelius Blackshear declared eclipses offer the highest and Best ending an auction that started with a bid of $300,000. R the auction was led by a judge who quietly urged higher offers and lawyers who politely voiced their clients bids. Unlike an auction involving a painting or baseball cards the object of the bidders desire Wasny to even on display. Everyone knew what they were trying to get a a Brand name that would bring instant recognition normally acquired eclipse. President David h. Lockwood left leaves court after winning auction for pan am logo. _ Over years. For Many customers however pan am recalled the 1988 Airliner bombing Over Lockerbie Scotland that killed 270 and a failed bankruptcy reorganization eclipse expects to get s1.8 million in licensing fees next year alone. German lawmakers vote to privatize railroads Bonn Germany up a by an overwhelming vote German lawmakers have approved a plan to privatize the country a unprofitable Railroad system. The deputies at the bundestag the lower House of parliament approved what was described As Germany a largest privatization to Date by a 559-12 vote thursday. Approval by the bundesrat the upper House is considered a foregone conclusion. As of Jan. 1, the Western German Bun Desbah and the Eastern German Teichs Bahn would be turned into a join stoc k company known As Deutsche Bahn a whose shares will remain in government ownership for the next 10 years. Lawmakers said the move will help Cut costly red tape will free management from political interference and should slash the massive losses the German Railroad system incurs every year. The government will pick up the Tab for the railroads debt of 70 billion Marks $41.9 billion. The Federal government will remain responsible _ for the construction and maintenance of the tracks and has committed 33 billion Marks $19,8 billion Over the next nine years to improve tracks in Eastern Germany Deutsche Bahn a is due to be turned into a holding company in 1996 for three new Stock companies one for passenger transport one for freight transport Mcand one for the railed. The Reform will also remove 130,000 of the 400,000 rail employees from civil service. As Public servants they enjoyed a virtual guarantee of lifetime employment. Blackshear ended the auction after nearly two hours by asking the two remaining bidders to submit their Best offers As written bids which they scrawled on notepad paper. Charles Cobb a Miami real estate Developer offered slightly More than $1.2 million. After losing the bidding cd bbl a attorney objected to the sealed bid process and Cobb said he could have gone higher if the judge Hadnot ended the auction. One group whose principals were not identified dropped out at $500,000. A retired banker and his son stopped bidding at $1,025 million then during a recess tried twice to forge a partnership with Cobb who had prompted the bidding with an agreement last month to buy the name for $300,000. Since it shut Down two years ago. Pan am has been Selling its assets to pay creditors. If eclipse can to raise a Deposit As it promised Cobb s offer stands until monday. Eclipse said it plans to finalize the Sale by mid december. Cobb who served As ambassador to Iceland in the Bush administration planned to use the pan am logos As part of an worldwide tourism business that would charter jets to ferry tourists to what he called 4�?~nigh-end" resorts. That plan depended on buying the pan am Brand he said after the auction