European Stars and Stripes (Newspaper) - December 5, 1993, Darmstadt, Hesse                                Page 20 the stars and stripes Money matters sunday december 5,1993 Dollar watch a. V shown below Are the highest Dollar Exchange rates for the week of nov. 29 dec. 3 compared with Dollar rates Lor the same period one year and five years ago. German Mark one Dollar would buy you 168 1.58 171 1893 1992 1988 military air hang rata British Pound one Pound would Cost you a Kab 1.83 1.52 1-55 1993 1992 1988 belgian franc one Dollar would buy you 88,85 33.01 88,88 1993 1992 1988 dutch Guilder one Dollar would buy you 1.88 1993 1.76 1992 1.95 1988 French franc one Dollar would buy you 239.11 203.16 144.30 1993 1992 italian lira j j2�lj one Dollar would buy you 1,718 _ a 1.408 1,287 1993 Spanish peseta one Dollar would buy you i 5.88 113.6o 1993 turkish lira one Dollar would buy you 13,806" 8,2/6 1993 1992 l 1,785 1988 i Volvo s reversal on merger with Renault angers French Paris apr Volvo will pay a High Price for its Retreat from a Long planned merger with Renault the chairman of the French automaker said Friday. Meanwhile a stunned French press depicted swedish rejection of the Deal As a stinging blow to National Pride. A a let a not mince words a said an editorial in Midi Libre a Montpellier newspaper. Quot Volvo a refusal to merge with Renault is a slap an expression of mistrust rot Only toward the company but toward our Economy our Industrial policy our management methods a Volvo a directors thursday withdrew from plans to merge with Renault and form the worlds sixth largest automaker. Volvo chairman Pehr g. By Denham mar who negotiated the Deal resigned in response to the boards action. Louis Schweitzer chairman of slate owned Renault said Volvo would pay a a High Cost for the pullout Quot there Are clearly costs for whoever Breaks off uni i ate rally a he said. At the same time he said a 1991 Industrial cooperation Accord with Volvo remained in Force and he held out Hope for a hew modified merger project. A there would have to be a lot of changes and quite a few new conditions in order for this Opportunity to return a he told a news conference. Schweitzer complained that a emotional irrational and irrelevant considerations had overshadowed the economic logic of the merger As Volvo shareholders debated the Deal following its announcement in september a i am extremely disappointed that such a Beautiful and important Opportunity has been lost a Schweitzer said. A i must admit trial i was surprised by the violence of the  the French government said it was too soon to determine what effects the merger Coil apse would have on the company a strategy and possible privatization the plan would have merged Volvo a car and truck making operations a Sweden a biggest private Industrial company a with Renault which is four times Volvo a size. Renault was to have a 65 percent interest and Volvo a 35 percent share. The affair stirred up anti French feelings a said an editorial in la rep Tique Des pyrenees a newspaper in the Southern City of Pau. A the image of our country abroad is not As pleasant As wed like to believe. France has gained an image As protectionist and  Good economic news lifts stocks but Many analysts remain cautious new York up1 too much of a Good thing is bad for everyone a even Tor Wall Street. The Stock Market advanced this week on buying fuelled by a Stream of reports showing a steady economic growth. . Moore investment strategist at Argus investment management in Santa Barbara calif., said the a stimulus for the markets Advance was the continuation of Good economic numbers which portends that earnings will be better for the next two  but when a Strong report on november employment capped the we Klong flow of encouraging economic news it brought with it an unsettling Specter. Alan Ackerman executive vice president at Reich amp co., said the Market was held in Check by concerns that a Strong Economy will result in a High inflation Down the  aside from a possible resurgence of inflation Ackerman said there also were concerns about the Economy a falling Back into a recession because consumer savings Are Low and taxes Are going up next  he said some investors took profits because they were a playing it Safe. The fear of inflation and new taxes could cause some year end  for the week the Dow Jones Industrial average a which slipped 10.06 Points or 0.27 percent last week a bounced Back american Exchange 3 a new York weft the to most Tuitt stocks it american Stock Eit charge Corn pole trading Friday. Sleek pack Elf Echo Bay mines Energy ser let Nabors Industry Ivan Corn new Yon Tynesa me Devi Pic Royal Oak mines. Cheyenne Soltyr atari corp lists 4,361.200 736,900 565,200 537.600 501,000 476,700 462.100 406.600 406,500 377.100 111 25 it 12 it Hetchko. Unch up off it Cfaft 6 it 26ft up it 26 it up it 6ft upyt 4ft up it 33 it up it 7ft unch 20.12 Points or 0.55 percent to 3704.07. The new York Stock Exchange composite Index Rose 1.13 Points to end the week at 256,74 and the Standard amp poor a 500 Index added 1,83 Points to 464.89. Advances outnumbered declines 1,499993 among the 2,823 issues traded. Weekly big Board volume totalled 1,376,608,867 shares up from 860,198,757 traded a week earlier and from 1,215,086,976 in the same week a year ago. Among some of the Blue chips Wal Mart stores dropped 2 to 2vat general motors gained m to 55, at amp to fell a to 54vi, ism lost 2vi to 53vi, Citicorp edged up 4k to 354k, Walt Disney climbed 23/s to 4va and Philip Morris fell 1 to 553/s. T new York Exchange new York Dpi tha 15 most Active stocks in new York Stock Exchange composite trading on Friday. Slock Mel Utt Nett a wire 25,273,500 25 it 0ft us Ltd inc 5,455,400 17 it Oil it Lewonos de i 4,473,200 58 it up it Merck 6 co inc 3,565.300 34 up it general motors 3,008,900 55 up 1ft pact fee to lest 2.616,000 57 it up it Rwjr Nabisco hid 2.071,700 5ft Oft it a Ltd med ent Pri 2.009.700 12ft upyt atm company 1.661700 54 it unch Wal Mart stores 1.650,800 27 it unch ism corp 1,759,700 53 it off it Glaxo a wings 1.749.200 20 it up it Sec Orphilda 1,643,100 20 it up it so rags tech rtt. 1.516,100 31ft Oft it c Dow Jones new. York up a Dow Jones closing Range of averages on fmay a. A a a a High Lew Closa change 30 industrials 3726.96 3577.60 3704.07 up 1.04 20 transport 1760.07 1751.43 1764.04 <#6.u is Uili Les 225.15 221,99 223.90 0f1fl.7i 65 stocks 1376.79 1357.14 1367,13 0 11.92 on the american Stock Exchange the amex Market value Index Rose 1,8 Points to 465.32. Declines edged advances 435-426 among the 1,010 issues traded for the week amex volume totalled 94,069,865, compared with 59,626,610 shares a week earlier and with 87,835,815 in the same weel a year  Douglas to close Tulsa plants amps Tulsa okla. Apr defense contractor Mcdonnell Douglas corp. Announced Friday it will close its huge Plant in Tulsa citing declining defense and commercial aerospace markets. Almost All 1,150 workers will lose their jobs. The move is the latest in Mcdonnell a efforts to Cut costs that have already included 15,400 Job cuts this year. Mcdonnell also has closed plants in Missouri California Arizona and Ohio since 1991. Spokesman Lee Whitney said the company uses just 25 percent of the Tulsa plants space. In addition the air Force which owns the Plant is demanding a More than tenfold increase in the annual rent to $4,7 million. New legislation demands that the government seek fair Market value on the property. Peter g. Jusiano a Mcdonnell vice president of production operations called the closure decision painful because of the Long relationship with the City and the Strong work ethic of the work Force a but the combination of the increasingly High Cost of operating the Plant the severe overcapacity we face As a result of deep defense cuts and prolonged weakness in the commercial aircraft Market meant we had to make a very hard decision a he said in a statement. Whitney said the company based the Tulsa plants future on a maintenance contract for Navy and Marine f/a-18 aircraft but Mcdonnell Douglas lost that bid earlier this year. A a in a really disappointed in this news. This is a loss for Tulsa and our nations defense capability a said sen. Don Nickles a okla. A the defense buds being Cut too rapidly. These cuts  Tulsa mayor Susan Savage sent a i to president Clinton on Friday a him to intercede saying the Plant s sure would be a major blow to the Economy a Kles and other members of Oklahoma congressional delegation worked to negotiate a new agreement for the Plant. Mcdonnell Douglas had threaten close it when the air Force insisted t increase in rent from $400,000 to million annually. The air Force later reduced it Mand to $4.7 million but asked for a year lease. Mcdonnell Douglas said it Wanti conduct an internal review Befoy signed