European Stars and Stripes (Newspaper) - February 13, 1994, Darmstadt, Hesse                                Sunday february 13, 1994 Money matters the stars and stripes Page 23 shown below Are the highest Dollar Exchange rates for the week of feb. 7 -11. Compared with Dollar rates for the same period one year and five years ago. German Mark one Dollar would buy you 1.89 1994 i 1993mmm military Exchange rate British Pound one Pound would Cost you 1.73 1.46 19891993 belgian franc one Dollar would buy you 36.35 34.25 39.92 1.97 dutch Guilder one Dollar would buy you 2.13 1.86 1994 1993 French franc one Dollar would buy you 5.98 1993 greek drachma 1989 one Dollar would buy you 246.28 215.63 156.05 1994 italian lira one Dollar would buy you 1,698 1,376 1994 i Spanish peseta one Dollar would buy you 142.81 117.85 117.00 turkish lira one Dollar would buy you 17,667 1994 9,068 1993 1,898 1989 Senate oks $25,000 buyout to trim Federal work Force Washington a the Senate passed legislation Friday offering $25,000 incentives for Federal employees to quit. Legislation aimed at accelerating a Quarter million person Cut in the Federal work Force passed the Senate by voice vote. It is slightly different from the ver Sion passed thursday by the House. Unless the House accepts the changes the differences will have to be worked out in conference. Under the buyout plan any Federal employee who has worked continuously for 12 months can receive Severance pay or $25,000, whichever is less. The Federal workforce restructuring act also allows agencies to retrain workers for different jobs within the Agency. To prevent workers from taking the Money and then returning to the Federal payroll the lawmakers passed an Amend ment saying any person rehired within five years of accepting a buyout would have to return the funds. The office of management and Bud get can waive that repayment require ment if the person is the Only one Quali fied for Ajob. The congressional budget office has estimated that the buyouts will Cost the government $2.1 billion this fiscal year. But the Senate measure estimates savings Over five years of More than $22 billion. Under the Senate version the savings would go into a Trust fund to be used to finance anti crime legislation passed last year by the Senate. The Clinton administration under a plan outlined by vice president Al Gore Hopes to Cut 252,000 Federal jobs reducing the work Force to 1,88 million by the end of fiscal year 1999. Buyouts Are clearly the most humane Way to downsize said rep. Leslie Byrne a a. The general accounting office has studied involuntary dismissals called reductions in Force at the defense depart ment and found that the practice usually implemented on a last hired first fired basis disproportionately affects Minori ties and women. Market Battles to rebuild Confidence new York up Wall Street struggled last week trying to regain its footing after the previous week s Deba Cle. Wall Street tumbled the previous week As the Stock Market reacted negatively to the Federal Reserve s Deci Sion to tighten credit in a bid to put a lid on inflation. The Sharp sell off feb. 4 dealt the Dow Industrial average its biggest one Day loss in More than two years and it eighth largest single Day drop on re Cord. We had a very hard time rebuilding Confidence in the Market after last Fri Day s debacle said Hugh Johnson head of the investment policy commit tee at first Albany corp. In Albany . Don r. Hays director of investment strategy at wheat first Butcher & Singer in Richmond va., said he thinks the Market is still suffering from the fear generated by the Federal Reserve s decision to increase interest rates by a Quarter Point a week  he added the fed action got every body nervous. Uncertainty Over what the fed will do next is still weighing on the  Trude Latimer vice president and chief Market strategist at Wayne Gray son capital corp., said the fed s tight ening of its monetary policy the Firstin five years took away All the complacency regarding interest  new York Exchange new York up the 15 most Active stocks in Newyork Stock Exchange composite trading on Friday. Sloe Silet last  de my 4,267.300 74vv putt Columbia he a 4.132.900 38v4 Oft 1 of general motors 3,481,700 6w of Wax technology .2,990,300 24v up Chrysler corp 2,701,700 59 offv4 Ford motor co 2,355,100 65v c1v4merck & co inc 2,140,000. 34tt unch Glaxo holdings 2,063.600 18v up Tim corp 1,985,400 53% up cml grouping 1.936.400 20% up Tryr Nabisco hid 1,473,400 7tt off Wal Mart stores 1,470,500 27v up storage techno. 1.458,500 35h of2v4 coca cola co. 1,455.800 41v4 upv4hanson pc 1,421,300 21 Oft i for the week the Dow Jones Indus trial average which sank.74.01. Points or 1.87 percent the previous week recouped 23.36 Points or 0.6 percent to 3894.78. The new York Stock Exchange composite Index inched up 0.10 Point to end the week at 261.31, while the Standard poor s 500 Index edged up 0.37 Point to 470.18. " declines outnumbered advances 1,369-1,087 among the 2,788 issues traded on the nose. Weekly big Board volume totalled 1,533,888,532 shares Down from 1,-665,736,744 traded a week earlier but up from 1,207,384,566 in the same week a year ago. On the american Stock Exchange american Exchange new York up the 10 most Active stocks i american Stock Exchange composite trading Friday. Stock Silivi Tut net  Bay mines 482,100 12% of new York times. 465.400 27v up1%energy service 461,600 3v4 up 1-16 non communicate 393,900 9 unc Harvard Rte Tec 339,400 2tt up Iva corp 306,000 35h oftv4amdahl corp 213,600 6vi Oft % Cheyenne Sotter 209,500 39h up Royal Oak mines 201,900 49-16 off f-16 Viacom inc b 198,200 3m o1% Dow Jones new York up Dow Jones closing Range of averages on Friday High Low. Close Ching 30 industrials 3920.95 3855,94 3894.78 off 0.56 20transport 1822.34 1791.22 1803.14 off 12.38 15 utilities 217.64 21388 216.91 up 151 65 stocks 1419.38 1395.50 1408.75 off 1.95 the amex Market value Index fell 1.06points to 477.23. Declines topped advances 459-365 among the 971 issues traded for the week. Amex volume totalled 94,889,645,compared with 116,429,115 shares a week earlier and with 93,047,970 in the same week a year ago. Echo Bay mines topped the amex actives losing 7/8 to 12/4.the Nash a composite Index re gained 4.11 Points or 0.5 percent trend the week at 781.39. Microsoft led the Nash a actives falling 5/s to 78v4. Prices up Only slightly easing inflation fears Sab by the los Angeles times wholesale prices Rose a scant 0.2 per cent last month and retail sales dropped0,5 percent the Federal government said Friday easing worries that inflation is heating up and taking some pres sure off the nation s Central Bank to raise interest rates again very soon. Falling prices for food partially offset rising prices for gasoline in january leaving wholesale Price inflation run Ning at a modest 2.9 percent annual rate the labor department said. And while the 0.5 percent drop in january retail sales that the Commerce depart ment announced in a separate report was larger than expected analysts said much of the decline could be blamed oblast month s los Angeles earthquake and unusually harsh weather in the Northeast. There is nothing in these reports tomake me think that interest rates Are going to have to be bumped up again soon said Robert Dederick chief economist at Northern Trust co. In Chi Cago. At this Point inflation is simply a non Issue. Most other analysts agreed that Fri Day s reports had quelled their fears that the Federal Reserve Board would have to raise interest rates again in the next few weeks to Cool Down the econ omy and ease Long term inflationary pressures. The previous week the fed raised its Federal funds rate the rate Banks charge each other for overnight Loans to 3.25 percent from 3 percent. It was the first such increase in five years. At the time some experts said the in crease would be the first of several in 1994. But analysts said Friday s reports could allow the fed to wait until the Spring or even summer before raising rates again. The labor department tracks whole Sale prices through its monthly producer Price Index. The Index s 0.2 percent increase in january indicates that con Sumers will not be paying much More at the checkout counter or the Gas pump when the goods get to Market in the coming weeks. Last month s increase inthe Index was fuelled by a 6.5 percent jump in the Cost of gasoline. Overall Energy costs which also include the Cost of natural Gas and heating Oil climbed a smaller 0.8 percent. Tobacco and Auto prices also Rose helping to wipe out the benefits of a 0.3percent drop in food prices the big Gest one month decline since last sum  had said retail sales in Jan uary would slow from their feverish Christmas Pace but the 0.5 percent drop reported by the Commerce department on Friday was much larger than most had expected. Mutual from   7sgv8zspfl Page 22 1288 1363 .03 1256 1266 .03 1438 1438 05 1238 1238 .01 1029 1029 of 1278 1278 03 no no initial sales Load. 1 Prev Loos Day s quote. P fund assets used to pay for distribution costs 12 b 1 plan i redemption charge Way apply 1 combines information in a and  i sex dividend