European Stars and Stripes (Newspaper) - December 9, 1993, Darmstadt, Hesse                                Thursday december 9, 1993 r Money matters the stars and stripes Page 15 today a rates following arc fixed rates at which Community banking and credit Union facilities will sell foreign currencies to . Personnel for personal use t German Mark. 1.66 British Pound. 1.53 dutch Guilder. 1.86 greek drachma. 236.0394 note. The rates above apply within the Host country. Figures Are expressed in dollars to the British Pound other currencies to the Dollar following arc Interbank Rales that fluctuate and should be regarded As the approximate value of the . Dollar to foreign currencies italian lira 1,671.75 turkish lira 13,858.00 Spanish peseta Itte ii a a a a 139.62 portuguese escudo 174.15 austrian Schilling 11.995 saudi Royal 3.75 bahraini Dinar. 0.3767 kuwaiti Dinar. 0.2979 norwegian Krone. 7.41 danish Krone. 6.706 British Pound. 1.49 German Mark. 1.707 Swiss franc. 1.471 French franc 5.861 dutch Guilder. 1.9135 belgian franc. 35.56 Canadian Dollar 1.3235 note figures Are expressed in dollars to the British Pound other Curten cies to the Dollar Odd quote $377.15 an ounce Silver quote $4.92 an ounce. New York Exchange 3 new York up a the 15 most Active stocks in new York Slock Exchange composite trading on tuesday. Stock sales last net chg. Hanson Pic 31,630.000 19. Off Rwjr Nabisco hid 4,371,100 6 % up i off v4 a  3.421,100 59% Boeing co3.394,600 41 up 2v limited inc 3.318,100 17% off v. Wax technology Westinghouse Al Philip Morris 3,122,60027v up in 2,728,900 14 unch 2,669.000 56% up Merck amp co inc 2,253,900 34 i off a Host Marriott 1,974,500 9v. Up vat amp to company 1.966,400 55v. Up a general motors 1.871,200 54v off a Energy corp 1,809,300 36 a. Off a Deere amp co 1,737,300 70% a off 3v Gler fed holding 1,731,900 6% unch american Exchange the 10 most Active stocks change composite trading tuesday. New York up american Stock exch _ Stock sales Lart Amdahl Carp 752.000 5% Energy service j41.b00 3v4 atari Corn 557,900 7v Echo Bay mines it 535.000 12% new York Tamesa so thai corn412,000 -26% Royal Oak mines 1 339,000 uhf thu come Enra 313,500 11v Devon Energy 305,600 18 Century comm 266,900 12v net chg. Up a up 3-16 off up i off i up i up 1-t6 off i up i off i Dow Jones 3 new York up Dow Jones closing Range of averages on tuesday 30 industrials 20 transport 15 utilities 65 stocks High 3746.82 1767.67 228 45 1380.20 Tow 3689 26 1742.46 225 48 1360-00 Clou 3718.86. Up 8 1756.13 offo. 227 39 up 1.58 1370 37 up 2.41 change it a 8o7 off 022 Economy unlikely to boost Job Rolls in 94, poll finds new York apr the Economy will continue to expand next year but wont be Strong enough to generate Job gains corporate purchasing executives say. A -. A the executives also expect next years inflation rate to. Be a moderate 2.1 percent. Inflation was running at a 2.8 percent annual rate through october of this year. The findings arc contained in a semiannual Survey released tuesday by the National association of purchasing management. The associations members Are executives responsible for buying raw materials for Many of the country a biggest Industrial companies. Such executives Are considered particularly Good judges of business conditions and their buying patterns Are considered a reliable indicator of economic activity. By a better than 5-to-l margin respondents to the Survey said they believe 1994 will be better than this year. A purchasing executives arc consider ably More optimistic about their Outlook for next year than they were a year ago when assessing their prospects for 1993,�?� said Robert j. Bretz chairman of the associations business Survey  director of corporate purchasing . Firm near Deal with chinese Brewer St Louis a Anheuser Busch cos. Inc which bought a 5 percent stake in China a largest brewing company m june says it is close to agreement on a major investment that will include joint construction of a new brewery in Eastern China. Chairman August a. Busch 111 said the company team sent to negotiate the construction Deal with Tsin Tao brewery co returned from China last week. He told the St. Louis Post dispatch that the new brewery would be near Tsin Tao s Headquarters in Eastern China. Purchasing executives Are considerably More optimistic about their Outlook for next year than they were a year ago. A Robert j. Bretz purchasing executives association for Pitne Bowes inc., said the executives estimated Overall business revenues will grow 4.7 percent next year. Based on that prediction the nations Gross Domestic product will grow 3 percent to 3.2 percent in 1994 after inflation Bretz said., the Economy is generally expected to grow by just under 3 percent for 1993. In its most recent report the government said the Gross Domestic product the sum of All goods and services produced in the United states expanded at a 2.7 percent annual rate during the third Quarter. The purchasing groups forecast which has been issued twice yearly since 1970, is based on answers to questions posed to purchasing executives in More than 300 Industrial companies. It delves into Many hitting the track work is rolling right along on the new terminal at Frankfurt International Airport in Germany. As part of the project the first car or a train that will connect terminal 1 with the new terminal 2 was gently placed on its tracks earlier this month. The new terminal will open in october. Of the same subjects tracked by the group s widely followed monthly Survey. Despite the generally optimistic assessment the forecast contained several reminders that the Economy still is expanding unevenly. A purchasing managers expect employment to decline in 1994 because corporations will continue to Cut jobs As they Cope with changing Market conditions. That prediction was supported wednesday by news that Xerox corp. Will eliminate More than 10,000 jobs or about 10 percent of its worldwide work Force Over the next few years. The Day before Rwjr Nabisco inc. Said it plans to Cut 6,000 jobs. Only 23 percent of the purchasing managers polled said they expect their companies total employment to Rise in 1994. Forty percent see lower employment while the rest think payrolls will hold steady. The most pressing concern for purchasing managers is the National health care program the Survey indicated. Asked to identify their biggest concern 13.4 percent of respondents mentioned health care. The general state of the Economy had been the Foremost concern in six previous surveys this time it slipped into second place. Xerox unveils plans to Cut 10,000 Stamford com a Xerox corp. Said wednesday that it will eliminate More than 10,000 jobs or about 10 percent of its worldwide work Force to Cut costs and improve productivity the copier maker said it also will close and consolidate an. Unspecified number of its manufacturing plants. The move comes a Day after Rwjr Nabisco holdings corp. Said it will eliminate about 6,000 jobs or nearly 10 percent of its work Force Over the next few years. The targeted jobs Are in Rwjr Nabisco a food and tobacco operations and include 1.000 White Collar positions the comp and previously said i would Cut from the . Reynolds tobacco co. Xerox chief executive officer Paul a. Allaire said the restructuring will intensify the company a focus on improving productivity. Quot this program also will improve our ability to drive for increased Revenue growth a he said. The company said about half of the 10.000 jobs will be eliminated in 1994. Fed May be poised to boost interest rates Washington a economists Are taking remarks by a top Federal Reserve official As a sign that the Central Bank could raise Short term interest rates soon after the f first of the year. A Early warning signals Are starting to twitch a Federal Reserve vice chairman David Mullins said tuesday in comments emphasizing the importance of preventing any outbreak of inflation. The Early signals include increasing prices for Gold and other commodities except for Oil and a nearly half percent age Point Rise in Long term interest rates on the Bond Market. That is usually taken As an indication investors Are worried about inflation. Although Mullins did not specify when the fed might raise Hort term rates he said the next few weeks will be an Quot important Crossroads Quot in formulating monetary policy. A once inflation pressures Are clearly visible. It seems awfully late in the game a he told a symposium sponsored by the american Enterprise Institute a conservative think tank. Many analysts had not expected a move from the fed before april or May. But they said Mullins comments indicate the move could come sooner. A it sounds to me like the Many a Finger is poised Over the tightening Button Quot said economist Robert g. Dederick of Northern Trust co. In Chicago. A a. He a right on the Edge if he Hasni to already gone Over. A report issued by the Federal Reserve on tuesday showed Low interest rates encouraged americans in october to increase their borrowing at the fastest rate in nearly six years. Outstanding consumer Loans Rose at a 12,7 percent annual rate the biggest increase since january 1988. Outstanding Auto Loans increased at a 17,5 percent annual rate. Dederick said fed policy makers scheduled to meet behind dosed doors dec. 21, probably will vote to Bias their policy in favor of raising rates and then follow up with an actual increase sometime during the first Quarter. L