European Stars and Stripes (Newspaper) - August 24, 1994, Darmstadt, Hesse                                Page 16 the stars and stripes Money matters wednesday August 24,1994 today s rates following Are fixed rates at which Community banking and credit Union facilities will sell for eign currencies to . Personnel for personal use British Pound 1,59 dutch Guilder 1.68 German Mark 1.49 note the rates above apply within the Host country. Figures Are expressed in dollars to the British Pound other currencies to the Dollar following Are Interbank rates that fluctuate and should  Garden As the approximate value of the . Dollar to foreign Curren cies austrian Schilling 10.791 Bahrain dinar0.37698 belgian franc 31.59 British Pound 1.5532 Canadian Dollar 1.3778 danish Krone 6.066 dutch Guilder 1.722 French franc 5.256 German Mark 1.5329 greek drachma 229.60 italian lira 1,566.10 Kuwait Dinar 0.2969 norwegian Krone 6.7414 portuguese escudo 157.00 saudi rial 3.7503 Spanish peseta 128.15 Swiss franc 1.2915 turkish lira 32,405.00 note figures Are expressed in dollars to the British Pound other currencies to the Dollar Gold quote $381,25 an ounce Silver quote $5.21 an ounce sources merchants National Bank a Trust co and the associated press. New York Exchange new York a sales of. The 15 most Active new trading nationally on monday name to Cimex ads or Nab Pic ism global mar Rwjr Nab Citicorp syntax go motors Compaq s will Lascos s digital Seq ores Serend. Chrysler supp acc Walmart. Closing Price and net change York Stock Exchange issues volume 6.401,300 5,971,900 2,970,600 2.959,900 2,792,6002.427,900 2,304,000 2,112,000 1,789,8001,783.600 1,774,600 1,715,800,1,672,600 1,627,600 1,626,400 list dig. 66vi 16v4 it 67v h 3v4 it 6vt unch 44vi 1vt23v4 it 48h it 37h 1 31v4 23vt h 19vi i 46 to i 19h h 24 it american Exchange new York a sales closing Price and net change of the 10 most Active american Stock Exchange issues.,trading nationally on monday. Name volume chess to s 2,609,800 Ivan up 1,100,600xcl Ltd 739,800 Echo Bay 670,700 Hanover Dir 407,600 Weatherd 376.600nytimos 321,600 Royal Oak g  s Hasbro Tait chg.11v4 a 21h 1iv unch 11v4 it 4v4 unch 13w v24w it 320,300315/16 it 290,800 15h unch 252,100. 31 unch chemical company to trim 200 jobs by the St. Louis Post dispatch St. Lpuis to. Petrolite corp. Says it will dismiss about 200 employees in its , and Canadian Oil Field Chemi Cal businesses by the end of october. The company said the action will pro vide savings of $10 million a year and re quire the chemical firm to take a $12 Mil lion after tax charge against earnings forthe Quarter ending oct. 31. Petrolite said $5 million of the charge will cover Severance pay costs Over the next 12 months and the rest will reflect the closing of plants and sales of certain assets. Conditions in the . And Canadian Oil Field markets remain weak said Wil Liam Nasser chairman of Petrolite.  a decline in the earn Ings of those businesses during the firsthand second quarters and their third Quarter results Are projected to be weaker  distributed by Scripps Howard news service Lockheed to take big hit if f-22 delayed Many say Bojoh Mintz Washington Post Washington Lockheed corp could be the biggest loser if the defense department acts on its threat to kill or delay several Large weapons programs some Industry officials said monday. Deputy defense Secretary John Deutch said in a memorandum late last week that Lockheed s $72 billion f-22 fighter Jet program the military s most expensive current project May have to be delayed As Long As four years to save funds for the Cash strapped military. This is Only the latest problem for the f-22, which critics say is a cold War relic that is unneeded now that the soviet Union has disappeared. In recent months the general accounting office and rep. John com ers a Mich. Also have called for delaying the f-22, saying its predecessor aircraft the f-15, already can defeat any enemy Armada. Sen. Al Fonse d Amato r-n.y., wants to cancel the f-22. Air Force and Industry executives monday outlined some arguments against Deutch a proposed delay7 of the f-22, saying that postponing it would drive up the program s Cost in the Long term. The f-22 s production already has been delayed by one year and the size of the Purchase has been Cut from 750 planes to 442, prompting huge increases in its unit costs. One Industry executive said monday that further reductions or delays Send a discouraging signal to High tech firms such As Lockheed. It shows there Are penalties and risks if you invest in re search and development Early on he said. Several military and Industry officials said it is ironic that Deutch and his Boss defense Secretary William Perry for Mer corporate executives who strongly promote High tech re Are threaten ing to end or delay most of the Penta gon s cutting Edge weapons projects. These two said they wanted to invest in the future and not eat their seed Corn said an Industry executive who Dis breakfast on rails commuters on the German subway line Between Frankfurt and bad Homburg Are say ing Bravo to an experimental plan that offers them breakfast in route. On Mon Day the first Day of the new service about 400 fresh Rolls and 17 Gallons of Coffee were served along with quantities of Tea and fruit juice and free morning newspapers. Officials said first reactions to the rolling breakfast have been very favourable. Agrees with the proposed cuts. But now they re eating their seed  Deutch s memo also raised the possibility of cutting the Marine corps v-22 Osprey tilt Rotor aircraft the air Force s Tri service standoff attack missile and the army s Comanche helicopter. More Over it said several programs May have to be delayed including the Navy s new at tack submarine and Arleigh Burke class destroyers. On monday a Pentagon official said the most Likely to be Cut outright is the v 22, which flies like a plane but lands like a helicopter. Congress has repeatedly saved the aircraft which the Pentagon has tried to Cut. The Pentagon official said that after the november elections a number of the proposals Likely will be acted upon add ing that this is not a budget  Deutch s memo said the cuts May be needed in part because of military pay raises. Recently Congress approved a raise of 2.6 percent despite the Clinton administration s proposal of a 1.6 percent raise. Disney to help Start German to Channel Luxembourg a the Walt Dis N.Y.co. And a Luxembourg Media group said monday that they have created a joint venture to launch a new family television Channel in Germany next year. In a joint statement the companies said they also agreed in principle to explore the possibility of offering similar family pro Grams in other european markets. The Luxembourg group Cut Multi Media and Disney will manage the Ger Man super Rel Channel jointly they said. It will Start up in january and initially will be available to Between 30 per cent and 35 percent of German Homes they added. Disney chairman Michael Eisner said in a statement that the Deal gives us a new window for televising our world recognized Brand of family  the new Channel will offer animated series live action series feature films and entertainment specials. Some pro Grams Williej produced by Disney while others will come from German and other International producers. Thousands to Start Holiday Early or a fir it Ait it a i it j by Mike Causey Washington Post Washington thousands of fed eral workers who had counted on having saturday through tuesday sept. 3-6, off because of labor Day will instead get a mandatory jump Start on their Holiday by being forced to take off Friday through monday sept 2-5. Labor Day is sept. 5 the change mainly affects folks on experimental compressed hours programs and won t affect the majority of govern ment employees. But the change will come As a Jolt for Many who work longer hours to earn three Day weekends each pay period. Like All things bureaucratic and administrative this is going to seem a lot More complicated than it really is. Here the Deal first off if you Are a Federal employee who works a regular eight hour Day monday through Friday then monday sept. 5, is the Day you will be off to Cele brate labor Day. But if you Are one of the thousands who work alternative or compressed schedules and regularly have every other monday off your Holiday will come sooner than you or your Agency anticipated. The situation arises for people who work longer Days during their 80-hour, two week pay period in order to get an Addi tonal full Day off every other week. Those who picked monday As their regular Day off will have their labor Day Holiday moved up. Many agencies already follow this practice but a number still give employees tuesday off when monday is the holi Day and also their regular Day off. Most of the government s holidays do fall on monday but it in t a problem because most employees work monday through Friday schedules. This in t a policy change said the of fice of personnel management but rather an Effort to get agencies to conform to Long standing Law. It is an Issue now be cause labor Day this year Falls on the first monday of a pay period for Many Federal agencies. That is also the scheduled Day off for Many compressed sched ule workers. If you Are a Glutton for punishment this is the Legal reason if the Legal Holiday Falls on a sunday no workday the employee will observe the Holiday on the next scheduled work Day. If the Legal Holiday Falls on a non workday other than sunday the employee will observe the Holiday on the immediately preceding scheduled  agencies that Haven t been doing it that Way Are on notice that they will Start doing it that Way. For some and for plenty of employees that is going to mean a change of scheduling and vacation plans