European Stars and Stripes (Newspaper) - July 28, 1994, Darmstadt, Hesse Page 14 the stars and stripes Money matters thursday july 20, 1994 a today a rates a following Are fixed rates at which Community banking and credit Union facilities will sell for eign currencies to . Personnel for personal use British Pound .1.57 dutch Guilder .1.73 German Mark .1.54 note the rates above apply within the Host country. Figures Are expressed in dollars to the British Pound other currencies to Tine Dollar following Are Interbank rates that fluctuate and should be. Regarded As the approximate value of the . Dollar to foreign currencies austrian Schilling 11.1275 Bahrain Dinar. 0.377 belgian franc. .32.47 British Pound .1.52b Canadian Dollar a a a a it a i i i 1.3b25 danish Krone. 6.2117 dutch Guilder 1.772 French franc 5.402 German Mark 1.5615 greek drachma 236.15 italian lira. 1,565.25 Kuwait Dinar. 0.2975 norwegian Krone. 6.8924 portuguese escudo .161.52 saudi rial. 3.75 Spanish peseta 130.17 Swiss franc 1.342 turkish lira 31,000.00 note figures Are expressed in dollars to the British Pound other currencies to the Dollar. Gold quote $387, x an ounce Silver quote $5.33 an ounce sources merchants National Bank a Trust co. And the associated press new York Exchange 1 new York apr sales 4 . Price and net change at the 15 most Active new York Stock Exchange is sees Tradina nationally tuesday. Nam volume enl chg. Tolm cads 1,348,700 5614 a in ism a a a 2,822,800 6254 w Chevron s a 2,772,400 43 a Mcdonalds s 2,532,200 271k 14 Compaq s 2,523,400-�?T31w 14. Eor motor s2,343,600 31.14 14 Lac Marg a a a 2,305,400 a 1054 4 Degl Tareq a 2,000,900 19h 1 sour Tico s 1,886,903 i a 14 est Kodak. 1,761,600 48 -114 Pepsico 1,740,700 30 4 14 Jones App �1,648,000 a 24 u re rap. A 1.642,200 6-4 14 Lincoln Natl a a 1,639,900 a 38 14 �?414 Gen motors. 1,582,900 5014 54 american Exchange a new York a sales closing Price and net change of the 10 most Active american Stock Exchange issues. Trading nationally tuesday. Nam Velum Lite chg. Viacom 1,170,608 3314 14 Viacom it a. 843,600 4 -14 Amdahl a 734,600 654 14 specie Vislen 734.100 2 unch Echo Bay 674,400 a 11w 14 nor 498.000 6 4 14 Spur 489,600 45 23/64-3/64 act Ltd 421,100 1 3716 unch chess Al s a. 362,600 14 Viacom Etc. 341,7cd 1 15/16 1/16 Dow Jones 1 new York apr Dow Jones closing Range of averages Ort tuesday a. High Low Chou citing 30 industrials 3764.50 3706.22 3735.68 20 transport 1618.31 1586.57 1598.53 Oft 6.21 15 utilities 183.63 181,58 182.71 unch 65 stocks 1307.24 1285.97 1295.72 off 2.80 Montgomery Ward to try to shopping Chicago a Montgomery Ward amp co. Said tuesday that it will test Cable television sales of Large appliances furniture and other big ticket items. The one hour segments to begin in Early August on the value vision International inc. Cable Channel also will offer instant Ward credit with attractive terms according to the retailer. The programs will feature the same merchandise found in wards electric Avenue departments and electric Avenue amp More free standing stores appliances electronics Home office equipment prerecorded video and audio tapes computer software and housewares. Medical drugs found to Cost in Europe than . Washington a americans pay at least twice As much for the same prescription drugs As do patients in Brit gift Italy France and Spain a new study says. A a a. A. British researchers looked at 26 drugs sold in the United states and abroad. They discovered that americans would pay $202.20 for the same amount of med icing that British patients could buy for $100, italians $101.10, the French $96 and spaniards $89.20. Patients in Germany and the Netherlands also pay less for the same drugs a. The equivalent of $158.40 and $143.50, respectively. The British study was completed about two weeks ago so it has not yet been published in medical journals. The results were unveiled tuesday by sen. Byron Dorgan d-n.d., but he did no to detail individual drug prices. He was to probe the differences wednesday at a hearing by the Senate governmental affairs committee. The study is the latest in a series of re cent congressional attacks on . Drug prices. In january the general accounting office discovered that six out of seven medicines Cost More in the United states than in Britain and that americans pay on average 60 percent More for drugs than the British. One contraceptive for example costs 17 limes More in the United states than in Britain. Rep. Henry Waxman d-calif., said at the time that americans were subsidizing Low drug prices in the rest of the world. Unlike the . Market the British government buys most drugs through the National health service giving them regulated prices. And earlier this month rep. Ron Wyden do re assailed drug companies for charging extraordinarily High prices for drugs developed with taxpayer do jars. A. Company s Moscow apr shares of russians largest investment company plunged wednesday amid panic Selling and thousands of worried investors tried to dump their Stock at almost any Price. It was the worst private financial crisis in Post soviet Russia and could shake the Confidence of millions of russians in the country a fledgling Market Economy. An estimated 9,000 people were massed outside the Mem company a four Story building wednesday morning including Many who camped overnight because of fears the company would collapse about 50 police officers stood nearby. Across town about 5,000 people converged on russians main commodities to change trying to dump their Mem shares. Mem Stock lost one third of its value overnight a if this goes on much longer Mem will collapse completely a said Ilya Shkabara an Exchange expert. For Many t investors the stakes were High they gave Mem their life savings their pensions and salaries. Mem which built a huge following through aggressive television advertising claims to have 10 million shareholder the company paid huge returns with share prices skyrocketing from about $1 in february to More than $50 this month. But analysts say Mem and other High flying investment funds and Banks have been running classic Pyramid schemes that will eventually collapse. Desperate russian investors stand outside the Moscow Headquarters of the Mem company tuesday. A a -. A a a a a mme a. Shadowy president Sergei Mavrodi has said in recent Days that his company a failure Coull provoke a revolution or civil War by angered shareholders. A a a. A a the company took out full Page advertisements in several newspapers wednesday blaming the government for its problems. A spokesman for president Boris Yeltsin who has singled Mem out for criticism said he would not get involved in the Mem crisis. Yeltsin left wednesday on a trip to Eastern Siberia. A the government Hasni to offered any guarantees to Mem shareholders Quot spokesman Anatoly Kasikov said. A just the opposite it has been warning them of the risks they were running. A such things can happen in a Market Economy a he added. A of course the government must protect people but its not the government s business to Settle their affairs for Mem shares wednesday dropped to $20, after trading for $30 tuesday. The company refused to redeem the shares at All but one of its offices. Few were Able to leave with their Money. A open open a people shouted tuesday evening some banging on the company a Metal door. Others waited quietly in Long lines behind Metal barricades. The panic Selling began late last week when the government warned investors that it could not guarantee the Money they had invested in Mem or other investment firms. Yeltsin and other officials have criticized Mem and similar financial organizations that Promise returns of up to 1,000 percent. Russian tax authorities have filed charges against Mem affiliates alleging tax fraud and other violations reportedly amounting to some $25 million. Revenues Paris apr Frances euro Disney said wednesday that its losses widened to More than $100 million in the third Quarter of its fiscal year and that revenues dropped 20.7 percent. The loss compares with about $76 million in the same period of 1993. But euro Disney said about $65 million of the third Quarter loss reflected one time charges from financial restructuring. It blamed Revenue drop on the negative effect of Public opinion Over the company a financial problems. The drop also reflected new lower prices instituted in efforts to attract More visitors euro Disney said. The drop a is due to lower attendance largely resulting from the uncertainty which surrounded the company a future impeding the company a marketing efforts and to the new aggressive Price strategy a euro Disney said in a a recession with double digit unemployment has prevented euro Disney from turning a profit since it opened the Gates of the theme Park about 18 Miles East of Paris in april 1992. No new attendance figures were re leased but despite hard times last year nearly 13 million visitors pushed through the turnstiles making it by far Frances biggest tourist draw. However families have refrained from spending Money on euro Disney a souvenirs restaurants and hotels. Euro Disney said that excluding the financial charges its results were starting to show the benefits of the financial restructuring. Lease expenses dropped 50 percent because of interest waivers and the agreement by euro Disney a . Parent the Walt Disney co., to forgo royalties luxury airline will Cater to High rollers los Angeles a Mem grand inc., whose first try at an a fall frills airline faltered will relaunch luxury flights Between los Angeles and new York and add direct service to Las vegas from those cities. High rollers entertainers dignitaries corporate executives and the merely wealthy will belly up to airborne bars Chow Down on dishes concocted by Wolfgang puck and bed Down if they wish in staterooms on Mem grand a sex refurbished Boeing 727 jetliners. The round trip fares will be about $2,880 coast to coast $2,100 new York Las vegas and $380 los Angeles Las vegas on Mem grand air that a about the Price of same Day first class tickets on other airlines said Robert Gould chief executive of Mem grand air the flight subsidiary of Mem grand inc. Gould said the company a studies suggest the new service will Fly financially especially among travellers from the East. A a it a been arduous getting to Las vegas a Gould said Quot we re going to offer luxury service at first class
