European Stars and Stripes (Newspaper) - January 16, 1994, Darmstadt, Hesse Page 20 the stars and stripes Money matters sunday january 16,1994 Dollar watch shown below Are the highest Dollar Exchange rates for the week of Jan. 10-14 compared with Dollar rates for the same period one year and five years ago. German Mark one Dollar would buy you 1.71 t.59 1-82 1994 i 1993 military Exchange rate British Pound one Pound would Cost you 1-761.53 19891994 1993 belgian franc one Dollar would buy you 36.53 .38.4633.57 1994 dutch Guilder one Dollar would buy you French franc one Dollar would buy you 593 6.275 ". 5.55 1993 greek drachma one Dollar would buy you 242.87 213.69 152.10 1994 italian lira one Dollar would buy you 1j06 1soai 508 1,340 1994 Spanish peseta one Dollar would buy you 144.23 116.14 h5.3q 1m4 i turkish lira one Dollar would buy you 14,865 k 8,721 1994 1993 Rise in Industrial output Economy by John m. Berry the Washington Post some economic forecasters Friday considerably raised their estimates for eco nomic growth in the final three months of 1993, to a robust 6 percent annualized Pace. The new growth estimates came after the Federal Reserve Board reported that Industrial production increased 0.7 per cent in december about twice As fast As most analysts had anticipated. The new data suggests a 6 percent gain said analysts at Stone & Mccarthy research associates a financial markets research firm in Princeton the fourth Quarter strength should be fairly Broad based when the Commerce department releases the first official figures later this month the firm said. A 6 percent growth rate would be the strongest quarterly result in almost a dec Ade. Most forecasters previously had Esti mated that fourth Quarter growth ranged from 4.5 percent to 5 percent. . Households have sensed that the Economy is rapidly improving according to the University of Michigan s monthly Survey of consumer attitudes preliminary results from interviews this month re leased Friday show the University s Index of consumer sentiment rising to 95.8 from 88.2 last month arid 81.2 in november. The Economy gathered momentum in 1993, growing at an annual rate of 1.9 of have solid momentum but the first Quarter should be nowhere close to what we have gotten in the fourth Quarter Mickey Levy nation Bank economist percent in the three months from april to june and 2.9 percent in the three months from july to september. At this time last year analysts similarly were catching up with unexpectedly rapid growth in the final Quarter of the year be fore which turned out to have been at a 5.7 percent rate. But a significant part of that Sharp in crease in production ended up unsold on businesses shelves. To get rid of those unsold goods production was Cut arid workers were Laid off and the growth rate dropped to Only 0.8 percent in first Quarter of 1993. Now analysts say they believe prospects for consumer spending and Busi Ness purchases of equipment Are Strong enough that production will not be trimmed As it was a year ago. Nevertheless they anticipate growth will slow to about a 3 percent annual Pace As some of the sources of recent strength such As a 25 percent Rise in Auto and truck production in the four months from september through december Are not repeated. You have solid momentum but the first Quarter should be nowhere close to what we have gotten in the fourth Quarter said Mickey Levy chief financial economist at nation Bank corp. In nov York. Growth should be 3.25 percent perhaps As High As 3.5 percent in the first half of this year which is very healthy. Everything is looking led by the automakers big jump in car and truck assemblies the output of the nation s factories mines and utilities Rose at a 7.5 percent annual rate in the three months from october to december the fed reported Friday. One reason that the production jump caught analysts by Surprise was that the labor department earlier had said the number of hours worked at manufacturing firms was unchanged from november. That Means that manufacturers achieved their increased production solely by hav ing employees produce More each hour they to the fed report Over the past year manufacturers have raised production 5.6 percent while increasing hours worked in their Industry by Only 0.8 percent. Such Strong productivity gains Are one reason inflation has not accelerated despite faster economic growth analysts said. Wall Street closes at experts surprised at continued strength of Bull Market in new year new York up Wall Street surprised the bears this week by extend ing its Stellar Start of the year performance. The Stock Market began the week in a bullish mood with the Dow Industrial average setting a new record High and Post ing its biggest one Day gain in nearly eight months. Although monday s Strong Start was followed by three Days of decline Trude Latimer vice president and chief Market strategist at Wayne Grayson capital corp., said it was a healthy Consolida the Market needed a few Days so we can catch our breath Latimer said. We re getting a bit ahead of the respite indeed gave the Market a Chance to regain its strength at week s end lifting the Dow and other Market indexes to record Heights. Ron Doran director of institutional trading at . King & associates in Al Bany n.y., said some people were a bit surprised that the Market was Able to Bounce Back. The bears kept talking about a for an aging Bull Market Doran said its performance since the Start of the year showed it still has some kick in for the week the Dow Jones Industrial average which surged 66.68 Points or 1.8 percent last week climbed another new York Exchange new York up the 15 most Active stocks in Newyork Stock Exchange composite trading Friday. Stoc Citicorp Cen Tenor of my merry go round or Nabisco hid Motorola in general motors Western digital Wal Mart store site corp Merck & co in Westinghouse Al. Stone Container Home depot inc us surgical co silas5,209,800 4,089,5003,495,900 2,860,4002.790,600 2,727,5002,631,000 2.485,9002,438,600 2,398,9002,270,900. 2.122.1002.113,300 2,044,6002,042,100 last 42 12% 65w 2% 6tt 99 61% 12% 25% 34v4 36% 13% 13% 37v4 28w net chg. Up1% up off up /4unch up 1 up Unchur up off %. Off Haupl off a up /4 46.43 Points or 1.2 percent to a new All time High 3867.20. Since the Start of the year the Blue Chip indicator has posted a gain of 113.11 Points or 3 percent and set new record highs five times. The new York Stock Exchange composite Index Rose 2.56 Points to end the week at a new record High 262.90 and the Standard & poor s 500 Index climbed 5.01 Points to 474.91 a Shade below monday s record close of 475.27. For the week Tel Fonos de Mexico topped the big Board actives losing 1v4 to 65v8 on concerns Over the peasant american Exchange new York up. The 10 most Active stocks i american Stock Exchange composite trading Friday Stock sales last inc 802,500 34v4 off Echo amines 596,500 14% unch Amdahl corp 542.000 6 /4 off Gaylord cont it 464,500 4v4 up 1-18presidiooila 414,900 itt up i Beta Well Sivc 404,900 14% inc. 398,300 57/4 off it greyhound lines 377,000 12% unc Royal Oak mines 337,400 5 unch Medeva Pic 299.600 9% of Fri Dow Jones new York up Dow Jones closing Range of averages on Friday High Low close change 3867.20 up 24.771834.81 up 10.73 221.39 up 0.52 30 industrials20 transport 15 utilities65 stocks 3891.961847.68 222.19 1424.07 low3830.62 1811.64219.09 1400.18 1415.24 up 8.05 uprising in Southern Mexico. Blockbuster entertainment followed edging up % to 283/4. Blockbuster and Viacom agreed to merge allowing Viacom to boost its bid for Paramount communications to about $9.3 billion and Chal Lenge ivc network s bid for control of Paramount. American express Rose 3 to 3214 after a rating upgrade from Merrill Lynch. San Francisco seeks theme Park for Navy islands a Burbank Calif. Up san fran Cisco City planners have proposed to the Walt Disney co. And other entertainment companies the idea of converting the treasure Island naval station into a theme Park an official said Friday. San Francisco officials have been considering using the base due to close in 1997, As the site for a world s fair in 1999 or 2000, then transferring the property to a theme Park operator. James Lazarus chief of operations for mayor Frank Jordan said Disney and several other theme Park companies had been approached by City planners on a preliminary basis to gauge their interest in the property a 400-acre Island in the Middle of san Francisco Bay and the site of the Golden Gate International Exposi Tion in 1939. Lazarus said Disney officials expressed no interest in the idea and noted that the company has been Active recently in try ing to open new . Facilities at other Sites including a recently announced plan for an american heritage Park i Virginia. A spokesman for Disney of Burbank,Calif., said he had no comment on the treasure Island idea. I i 4 i
