European Stars and Stripes (Newspaper) - June 16, 1994, Darmstadt, Hesse Page 14 the stars and stripes Money matters thursday june 16,1994 today a rates following Are fixed rates at which Community banking and credit Union facilities will sell foreign currencies to . Personnel for personal use British Pound. 1.56 dutch Guilder. 1.79 German Mark .1.60 greek drachma .242.4542 Mots till Rales above apply within the Host country. Figures Are expressed in dollars to the British Pound other currencies o he Dollar following Are Interbank rates that fluctuate and should be regarded As the approximate value of the . Dollar to foreign Curren Bicsi austrian Schilling. 11.5715 Bahrain Dinar. 0.37675 belgian franc. 33.82 British Pound. 1.5205 Canadian Dollar .1.3843 danish Krone. 6.4311 dutch Guilder .1.8435 French franc .5.6025 German Mark .1.642 italian lira .1,598.75 Kuwait Dinar. 0.2971 norwegian Krone. 7.1453 portuguese escudo 170.80 saudi rial 3.749 Spanish peseta 135.50 Swiss franc 1.383 turkish lira. 31,200.00 Nota figures Are exp res Sod in dollars to the British Pound other currencies to Tho Dollar Gol d quote $383.50 an ounce. Silver quote $5.30 an ounce sources merchants wad Naf Bank amp Trust co., the associated press. United press International l new York Exchange 1 new York up York Stock Exchange stack Cal Rynd credit Exxon corp Ford motor co Pepsico inc Hansen Pic Chrysler Carp. The Fonos def my general motors Home depot inc Cilie Orp pm corp. Philip Morris a Fajr Nabisco hid limited inc Nail Semi conduct a the 15 most Active stocks in new Pas be trading tuesday. Sale last net chg. 5,882,200 15% off 1 % 4,951,600 saw. Off % 4,284.100 6114 up 2 % 4,100,200 31 % up % 3,705,900 1914 up % 3,779,300 49% up 1% 3,117,480 59% up 1% 2,933,300. 53% up 1% 2,071,900 43 off 1% 2,049,600 41% up % 2,778,600, 65 a up 1 % 2,757,800 50% up % 2,628.300 5% up a 2,274,000 i few up a 2,175,800 19% off r american Exchange a new York Tumi the 10 most Active stocks in american Slack Exchange composite trading tuesday Slock sate Lett net chg. Explore Turco la a 1,649,700 a a up % Cheyenne softer. 715.800 17 up % Nax corp a 596,600 a a 16% unti Hasbro inc. 522.460 31 off % Texas Meridian a. 326,300 15% up 1 Echo Bay Mes 287.300 to tech non common Icahn a �284,000 7% up % Viacom inc b a 250.700 30% unch Chiles offshore 246,500 4% a unch Alc common corp 235,300 23% off 1 7-32 i Dow Jones new York up a Dow Jones dosing Range of avenges tuesday a High Low cats change 30 industrials 3039.55 3769,17 3fl14.03up31.fi 20-transport 1653.29 1g15.1q 1644.24 up 26.05 t5 whittles 189.10 105.20 107.19 up 0.27 65 stocks 1335.03 1309.71 1327.01 up 13.20 inflationary danger eases in May Price show by David w. Myers los Angeles times in two More signs that the Economy is growing at a sustainable Pace the government said tuesday that consumer prices Rose a modest 0.2 percent in May and that retail sales dipped for the second month in a Row. Economists and Wall Street traders welcomed the news saying the reports show that the Economy is no longer in danger of overheating and that inflationary pressures Are continuing to ease. Bond yields fell sharply triggering a Stock Market rally that pushed the Dow Jones Industrial average above the 3,800-Mark for the first time in nearly three months. The yield on the Benchmark 30-year Treasury Bond dropped to 7.30 percent from 7,35 percent on monday. The Dow Rose 33.71 Points to end the Day at 3 a 14,83, its highest close since March 24. Analysts also said the Good inflation news should further ease pressure on the Federal Reserve Board to raise Short term interest rates again when its policymaking Federal open Market committee meets in Early july. The fed has raised rates four times since february in an Effort to prevent the Economy from overheating and keep inflation under control a the Economy is clearly slowing so there s really no reason Why the fed needs to raise interest rates again now a said Michael Moran chief economist at Uaiwa securities America in new York. In its report showing a modest 0.2 percent Rise in consumer prices in May from april the labor department said lower Energy costs and the biggest one month drop in airline ticket prices in 25 years Only partially offset higher prices for fruits and vegetables. New car prices Rose 0.3 percent tobacco prices surged 1.3 percent and medical costs were up 0.4 percent. Excluding the volatile categories of food and Energy the so called Core rate of inflation was up 0.3 percent in May. The Core rate has risen Only 2.8 percent Over the past 12 months. Hoping to give Good publicity multiple grammy Winner Whitney Houston and Joseph p. Nac signed a one year contract to be the featured performer in a Nachio president of at amp to a consumer Long distance unit appear in lion at advertising Campaign for its tru voice. Terms of the Deal new York on tuesday. At amp to announced that the Singer has were not disclosed. Houston a hits include you give Good love. Delta grounding 4 Long flights trans Atlantic trips target of Cost cutting Hong Kong investors Trump said near Deal new York up1 a Hong Kong investment group is close to a Deal with Donald Trump to finance a s3 billion luxury housing development on the Hudson River site where the real estate Developer had once planned to build television City a newspaper reported. Trumps dreams for a vast Media Center and apartment towers on the Manhattan waterfront Between 59th and 72nd streets foundered nearly a decade ago when the proposal was attacked by City planners and neighbourhood activists As a Leviathan that would tax the areas infrastructure and environmental resources. Atlanta a Delta air lines big Cost cutting plan will be Felt by employees As Well As by travellers. The airline said tuesday that it was scaling Back its european route system eliminating its Cincinnati Munich Miami London new York Stockholm and new York Oslo flights. The Miami route will be Cut sept. 10, and the others will be eliminated sept. 12. It also said it is removing 13 Airbus a310 International Range jets from its Fleet. The announcement followed mondays disclosure that Delta was cutting 2,500 jobs from its technical operations division. The Job cuts Are the first to be specified in a staff reduction that will total Between 12,000 and 15,000 of Delta a 73,000 workers. The Steps represent the first details of a Broad Cost cutting Effort announced if april by Delta chairman Ronald w. Allen who has been struggling to Stem More than two years of heavy financial losses. The Cost cutting plan Aims to reduce Delta a annual operating costs by $2 billion by 1997. In its fiscal 1993, Delta a operating expenses totalled $12.6 billion and the company lost $1 billion. The cuts announced this week were in line with analysts expectations said Kevin c. Murphy who follows Delta for Morgan Stanley amp co. In new York. A they foreshadowed it a he said. A a its the kind of necessary action they need to get to their Cost three of the four routes to be Cut effective in september were acquired by Delta when it purchased now defunct pan am a trans Atlantic system. That operation so far has been a Money loser for Delta and Murphy said these particular routes were Delta a most unprofitable a it should Cut their losses but i doubt its enough to make it profitable. For that they need a stronger Economy on both sides of the Atlantic a Murphy said. In Wake of Delta a decision United airlines announced tuesday that it is asking the transportation department for authority to begin daily nonstop service Between Miami and London. A a Delta a action opens up an Opportunity for the United states to designate a second . Carrier to compete with the two . Airlines now operating Over this key route a said Stephen Wolf United s chairman and chief executive. Delta will still offer service to London and Munich Germany from other airports but will no longer Fly to Oslo Norway and Stockholm Sweden. With these and other previously announced route cuts Delta is reducing its number of trans Atlantic flights by 21 percent. The company said other routes Domestic and International May be Cut later. We be said All along in the restructuring there a going to be a lot of changes including the dropping of routes that Are not profitable. We re looking closely at number of routes a said Delta spokesman Todd Clay i of a of by to
