European Stars and Stripes (Newspaper) - August 11, 1994, Darmstadt, Hesse                                Page 14 the stars and stripes Money matters thursday August 11,1994 i today s rates following Are fixed rates a which Community banking and credit Union facilities will sell for eign currencies to . Personnel for personal use British Pound 1.58 dutch Guilder 1.73 German Mark 1.54 note the rates above apply within the Host country. Figures Are expressed in dollars to tha British Pound other currencies to the Dollar following Are Interbank rate that fluctuate and should be regarded As the approximate value of the . Dollar to foreign Curren cies austrian Schilling 11.11 Bahrain Dinar 0.377 belgian franc 32.38 British Pound 1.5386 Canadian Dollar 1.3728 danish Krone 6.2187 dutch Guilder 1.7733 French franc 5.4119 German Mark 1.5787 greek drachma 237.50 italian lira 1,585.00 Kuwait Dinar 0.2983 norwegian Krone 6.9068 portuguese escudo 160.45 saudi rial 3.7502 Spanish peseta 129.88 Swiss franc 1.3285 turkish lira. 31,300.00 note figures Are expressed in dollars to the British Pound other currencies to the Dollar Gold quote $378.30 an ounce Silver quote $5.14 an ounce sources merchants National Bank & Trust co. And the associated press new York Exchange new York a sales 4 . Pries and net change of tie 15 most Active now Yak Stock Exchange issues trading nationally tuesday. Nimi volume list Btij. A Cyan 4,801,900 93ft 2 Ira Nab 4,299,000 6vi unch Tolof leads 3,935,100 63v4 item cups 3,635,600 14y it syntax 3,059,400 22h h ism 2.967,500 64v 1v4merck 2,689,000 30ft h ror motors 2,361,500 30v a uni ride 2,271,100 32h 1v occident pet 2,122,200 21h 4 Virr n4s pfc 2,057,700 6h unc Glaxo add 1,983,700 18ft h Mcd Appleg 1,922,400 12y4 a Kmart 1,765,600 16h unch a express 1,737,600 27v4 a american Exchange new York a sales closing Price and net Changet the 10 most Active american Stock Exchange issues trading nationally tuesday. Name volume Latt  1,537,100 9v4 h Lacomb 767,300 35h win Axup 494,200 18ft it Viacom it 473,000 .4v4-1/16.xclud 371.400 1ft it by times 338,900 24ft it Royal Oak 333,500 41/16 1/16 Viacom Etc 291.600115/16 1/16totalpca 284,300 11ft a to source 257.100 6ft h Dow Jones new York a Dow Jones closing Range of aver Ages on  Low clot chirm30 industrials 3773.89 3728.58 3755.76 up 1.95 20 transport 1606.35 1582.89 1598.07 up 8.5115 utilities 169.89 187.52 188.57 off 1.12 65 stocks 1311.63 1294.63 1304.80 up 1.58 Twa sets 2-for-l Sale St. Louis a trans world air lines inc. Ort tuesday announced a 2-for-1 ticket Sale on Domestic and International routes during which passengers can Fly with a companion at no extra charge. To qualify travellers must Purchase their tickets by Friday. All Domestic routes and flights on trans world express a Twa subsidiary Are included in the Sale and to qualify for those flights passengers must take their trips Between sept. 13 and Jan. 31. The 2-for-i Sale also includes International routes except for trips to Switzer land. To qualify passengers must travel Between nov. 1 and March 22. House backs move to give China favored Trade status Washington a the Houston tuesday upheld president Clinton s decision to continue a Normal trading relationship with China rejecting emotion Al pleas to punish the Beijing government for human rights abuses. We can t sell our soul for Short Ter Dollar gains declared rep. Tom Lantos d-calif., with chinese dissidents looking on from the gallery. However after an appear to support the president by House speaker Thomas Foley d-wash., lawmakers approved measure essentially codifying Clinton s May 26 executive order extending China s Low Tariff Trade privileges known As most favored nation status or Man. What is our influence going to be i we were to take the draconian step of cutting or even restricting Trade Foley asked. Our word our influence our position our citizens will be less important in China than if Trade is  the measure adopted 280-152, split the democratic leadership and Drew sup port and opposition across party lines. I authorizes the president to establish a commission to Monitor human rights conditions in China and urges . Businesses operating in China to adopt a voluntary set of principles governing such areas As worker rights. It also authorizes the . Information Agency to spend $1 million to promote human rights in China and earmarks $5million in increased funding for Broad casting to China. Clinton welcomed the House vote say ing he is committed to pursuing a Sensi ble policy toward China that vigorously promotes the full Range of . Interests in China including improved human rights he said the $8.8 billion in goods the United states exported to China last year supported More than 150,000 american jobs. Market forces help Foster democratic growth Clinton said in a statement. And Trade also helps develop the Infra Structure upon which real Progress on human rights can be  the author of the Bill rep. Lee Ham Ilton d-ind., chairman of the House for eign affairs committee warned that an open rift with China would endanger . Efforts to pressure China s ally North Korea into suspending its nuclear arms program. Hamilton was supported by rep. Sam Gibbons d-fla., chairman of the House ways and Means committee. Gibbons argued that although China s human rights were dismal by Western standards they were still better than any other time in its 6,000-year history. Opponents said Hamilton s approach tells the China s communist leaders that the United states condones their actions including forced labor by an estimated 2 million to 3 million prisoners jailing religious leaders the repression of Tibet an the Export of nuclear and missile technology to Iran Syria and Pakistan. The angry old men of China. Are watching and they Are laughing up their sleeves " said rep. Gerald Solomon . Solomon had offered a Resolution rejected 356-75, that would have revoked China s Man status. Experts fear russian banking crisis by Jan Cienski Deutsche Presse Agenter Moscow while the collapse of Themma investment Pyramid got headlines around the world russian economists Saya much More serious problem May be lurking a full blown banking crisis. One half of Russia s 2,300 commercial Banks could go bankrupt warned Andrei Illarionov head of the Center for eco nomic reforms an economic think tank. If inflation continues to drop a crisis i unavoidable by september or  ularia nov s warnings were echoed by senior Western economist stationed in Moscow. All the ingredients Are Here fora major problem he said. Unlike Mem s collapse which affected Only Small and inexperienced investors a banking crisis has the potential to Knock the legs out from under Russia s fragile Market Economy. A banking crisis would be difficult politically because it would hit the Rich those people who Are Well off and who support the government said the West Ern economist. Not All observers agree with Illarian about the severity of the crisis but most admin hat there will be shakeup in the Market. There Are two main reasons for a Bank ing crisis Russia s dropping inflation  Banks got used to working in a High inflation environment and Len Money based on the expectation of continuing inflation. But after soaring to More than 20 percent a month for most of last year inflation has dropped sharply. Russian policemen escort a woman away from a protest held tuesday in Moscow s red Square by outraged shareholders in the collapsed Mem investment firm. Now lenders Are stuck with Loans the must repay at a rate of about 13 percent a month while inflation in june was 4.8percent. Since there s nothing they can do that would earn that sort of return Short of dealing drugs they default on their Loans. Russia s nonpayment crisis. The government has delayed payment for its orders for months causing a Cascade of nonpayment throughout the Economy. Factories across the country have stopped paying their Bills including their Loans As a Way of staving off bankruptcy. Commercial Banks were often Given directed credits by the Central Bank and told to invest the Money in specific Indus. Tries now the industries Aren t repaying their Loans and the Banks have been stuck with the Bill. As of june 1, Russia s commercial Banks had $900 million in outstanding credits at the Central Bank distributed by Scripps Howard news service .gamblers bet a record $394.3 billion Carson City Nev. A the nation s gamblers bet a record $394.3 Bil lion in 1993, a 17.1 percent gain Over the previous year according to gaming & wagering business Magazine. Gab said the gain in the handle or total amount wagered resulted in $34.7 billion in Gross revenues up 14.2 percent for casinos racetracks sports books lot teries riverboats and cruise ships. The annual report did not include net winnings which Are winnings after taxes expenses and other costs Are deducted by gambling operators. Casino table games and Slot machines accounted for $297.3 billion or three quarters of the entire 1993 Legal wagering handle. The report says 46 percent of the Han dle $182.2 billion was bet in Nevada re sorts and 19 percent or $76.5 billion was wagered Irr new Jersey s hotel casinos. Lotteries around the nation accounted for 8 percent of the action or $30.9 billion and Indian reservation clubs accounted for 7.4 percent or nearly $29 billion. Riverboats accounted for just less than7 percent or about $27.1 billion and parimutuel wagering accounted for 4 per cent or $17.4 billion. The balance of the handle was wagered on cruise ships and in card rooms Bingo Parlours and charitable games according tothe new York biased Magazine. The gab report was prepared by Christiansen Cummings associates inc., a consulting firm