European Stars and Stripes (Newspaper) - December 29, 1993, Darmstadt, Hesse                                Page 14 the stars and stripes Money matters wednesday december 29, 1993 today a rates following arc fixed rates at which Community banking and credit Union facilities will sell for Eton currencies to . Personnel for personal use German Mark 1.66 British Pound 1.53 dutch Guilder 1.85 greek drachma 238.3262 note the rates 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 Curran pics italian lira. 1,680.50 turkish lira. 14,233.20 Span Lah peseta .139.75 portuguese escudo 173.00 austrian Schilling. 11.96 saudi Royal. 3.7510 bahraini Dinar 0.37670 kuwaiti Dinar 0.29810 norwegian Krone 7.3790 danish Krone 6.6425 British Pound a a a a a a a a a $1.5040 German Mark .1.7005 Swiss franc ,.1.4445 French franc 5.7960 dutch Guilder 1.9079 belgian franc. 35.35 Canadian Dollar. 1.3280 note flu fits Are expressed in dollars to the British Pound other currencies to the Dollar Gold quote $306.35 an ounce Silver quote ss.03 denounce new York Exchange new York up to t5 most Active stocks in new York Stock Exchange composite trading on monday. Steel Merck amp co inc merry to round Wal Mart stores Rwjr Nabisco hid Tel Fonos demo Paramount comm general motors ism corp Chrysler corp Wax technology Beverly in Terr Philip Morris. Medical care Ani at amp to company Energy corp Talei 3.602.000 2.990.800 2.201.000 2,072,400 1.624.000 1.449.500 1,435,600 1.411.500 1,356,100 1.309,300 1.279.500 1.106.700 1.056.800 1.045.000 1.019.700 Ltd 35 w 3 i 25% a Vuk 66 78 w 56 % 59 w 53 % 26 % 12 a a 55 % 23 54 is 36 Nelcha. Up up Oft a off Vuk up 0 Ifni up up or off i up Vuk off up a up 2 up i up Vuk american Exchange new York up a the 10 most Active stocks in american Stock Exchange composite trading monday. Stock Lay t Energy service Jan sell mtg Royal Oak mines Ivan corp Amdahl corp Cost enter taint atari corp Nabors Industry Chambers Dev a Salei 359,200 306.000 283.900 240.000 236.100 197.100 195,300 190.900 182.900 167.100 last 12 Vuk 3 a 0 i 4 a a 28 Vuk 5% 2 3-16 6 a 6 Vuk 4 Vuk net chg Uncan up Vuk off up a up Vuk off Vuk off-116 011% up Vuk uncut l Dow Jones j a new York up a Dow Jones closing Range of averages on monday High Low close change 30 industrials 3604.95 3750.46 3792 93 up 35 21 20 transports 1779.26 1750.40 t770747 up 9 01 15 utilities 231.55 227 99 230.42 up 1.18 65 stocks 1397.24 1378.22 1391.69 up 10 22 sex teamsters chief Dave Beck Dies at 99 Seattle a Dave Beck a former president of the teamsters who spent 2a years in prison on slate and Federal charges died sunday. He was 99. Beck joined the teamsters in 1914 and became a full time Union official in 1926. As head of the International brotherhood of teamsters chauffeurs warehousemen and helpers of America from 1952 through 1957, be helped build it into the worlds biggest labor organization in 1957, a Washington state court convicted Beck of embezzling ,900 from the Sale of a used ear owned by the Union. He was convicted in 1959of filing a fraudulent tax return. Bright economic Outlook lifts stocks to record High new York apr while bears hibernate in a Christmas week snooze stocks Rose to record highs monday in a tally fuelled by Oil companies and Blue chips. The gains were exaggerated by the lightest trading volume of the year which gave each Purchase a disproportionately High Impact on the major Market indexes. The Dow Jones Industrial average hit a record of 3,792.93, up 35.21 Points. The previous record set dec. 13, was 3,764.43. Advancing issues outnumbered de diners by about 5-to-3 on the new York Stock Exchange with 1,305 up 787 Down and 621 unchanged. Big Board volume totalled 170.75 million shares As of 4 . That a the lowest since dec. 31, 1992, Way off from tors Days 227.18 million. Also hitting a record High was the Standard amp poor a 500-Stock Index up 3.16 to 470.54. The previous record of 469.50 was set on oct. 15. The Nash a Index gained 2.36 to 761.06, but stayed Well shy of its record. Stocks often rally at year s end As Many investors who arc Selling to lock in tax tosses or rid themselves of Money losers do so earlier in december then Bow out of the Market analysts said. That leaves an excess of buyers. A the equilibrium is disturbed because the major portfolios Are closed for the year. Very often they d be Selling on strength but they re just out of the Arena right now a said Michael Metz investment strategist for Oppenheimer amp co. In new York. Couple this with continued optimism for economic growth and Low inflation traders work the floor of the new York Stock Exchange on monday. Low volume and economic optimism helped push stocks to record highs. Higher. Stocks closed up 1.4_percent in prices go lower the increase will de Stab a a a Jyz _ Concrete government proposals to and the stage was set for mondays Strong boost the Economy. But markets in Tai Frankfurt and 1.5 percent in Paris. While Lize saudi Arabia our biggest ally in the the London Market was closed it also has persian Gulf Metz said. Firmer Oil prices u i. Help the Economy of the american Southwest he added. Among the big Oil Stock gainers were Atlantic Richfield up Ivi to 105v4 am been sharply higher lately. In Tokyo the nikkei average fell 1.9 percent amid disappointment Over a Lack of rally. Ricky Harrington senior vice president at interstate Johnson Lane in Charlotte n.c., said Many Mutual fund and pension fund managers have a Large amount of Cash to invest and do not want to be left behind in a rising Market a so they re buying Blue chips As a relatively Safe move. Wan Singapore the Philippines and others All gained broadly. Among other major . Indexes the Rada Hess up 1 to 455/s and Mobil up 1 a to 78 is. Medical care America a medical services company specializing in outpatient 260.07. At the american Stock Exchange the Market value Index was up 1.84 to 467.16. Although the Price of Oil dropped again on . Markets Oil stocks gained. A a that a the reason the Dow is stronger Oppenheimer amp co. Boosted its ratings an the other  he said. On several Oil companies saying open is nearing an agreement on cutting Oil production to boost lagging prices than the other indexes a he said. Among the Blue chips that helped the Dow higher Caterpillar up 2mj to 90 Exxon up Iva to 641/- and International paper up 1 Viz to 68 a. Gains in european and most asian markets also helped Domestic markets go ���asle a exc a to surgery and helping patients get in trave a a a a. Drugs at Home gained 2 to 23 on the nose. The Wall Street journal reported monday that a bidding War for the company May take place As at least seven companies Are looking at its books with an Eye toward a buyout. On the Nash a Market shares of biotech drug maker amen inc. Were up lj/4 to 48va on favourable comments in Barrons regarding its products revenues and staff stability. Among High tech gainers was Apple computer corp., up a to 281/z. A a there a pressure building to stabilize prices and frankly there a no one who really wants them lower a Metz said. The . Government feels that if 2 saudis pay millions in Bocci Case new York a a prominent saudi arabian banker and his aide have paid $225 million to Settle charges growing out of the Bank of credit and Commerce International scandal. Manhattan District attorney Robert Morgenthau said the settlement with Sheik Khalid bin Mahfouz and his aide Haroon Kahlon brings to $880 million the amount recovered from individuals and institutions illegally profiting from their association with Bocci. Most of the Money is intended for depositors defrauded by Bocci which a perpetrated the largest Bank fraud in world financial history a said Morganthau who has helped conduct inquiries into the defunct Bank a activities. 1 International Bank regulators seized Bocci on july 5, 1991, after audits revealed enormous fraud and improper Loans made to insiders. The resulting fall of Bocci a Juge privately held Bank with operations in 70 countries led to losses exceeding $12 billion. Prosecutors charged that in the Early 1980s, Bocci gained illegal control of a major Bank the former first american ban shares a inc., with Headquarters in Washington d.c., and a Large Branch system in new York state. Dealings Between Bocci and the Parent of first american credit and Commerce american holdings of the Netherlands Antilles were involved in the charges against the Sheik and Kahlon in july 1992, a new York county grand jury indicted Kahlon and Khalid  chief operating officer of saudi Arabia s largest Bank National commercial Bank of saudi Arabia on charges of defrauding Bocci customers of $300 million. Quot Ioctl ral Reserve later accuse Law 5 1986 h Aung  banking Law in 1ls6 by arranging without the knowledge of us regulators to acquire ? percent stake m first americans Parent company. An Morgenthau on monday released de tails of the settlement which was first reported thursday from filings of the new York state supreme court. Eastbrook inc., a new York based International Trade financing company and Kahlon a director of Eastbrook a Parent company each pleaded guilty to one Misdemeanour count of violating new York states general business Law in their dealings with credit and Commerce amen can holdings. The $225 million comes from Kahlon and Khalid. The two also agreed to cooperate with the District attorney and Federal investigators. A Kahlon and his company each pleaded guilty to one Misdemeanour count but Khalid did not. A total of 11 defendants have been convicted during the Bocci investigation Morgenthau said. Morgenthau said he is hoping to acquire an additional $5 billion in fines and restitution from All of by Cir a individual and corporate illegal benefactors