European Stars and Stripes (Newspaper) - November 17, 1994, Darmstadt, Hesse                                Page 14 the stars and stripes Money matters thursday november 17,1994 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 1.63 dutch Guilder. 1.68 German Mark. 1.50 note the rates above apply within the hos country. Figures Are expressed in dollars to the 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 -1 /. Austrian Schilling. 10.955 Bahrain Dinar. 0.37675 belgian franc .33.00 British Pound. 1.5745 Canadian Dollar. 1.365 danish Krone 6.0813 dutch Guilder. 1.7445 French for arts. 5.3373 German Mark. 1.5545 greek drachma. 239.10 italian lira. 1,591.50 Kuwait Dinar. 0.29870norwegian Krone 6.8145 portuguese escudo. 158.78 saudi rial. 3.7503 Spanish peseta. 129.29 Swiss franc. 1.3081 turkish lira. 36,349.51 note figures Are expressed in dollars to the British Pound other currencies to the Dollar Gold quote $385,50 an ounce Silver quote $5.19 an ounce sources merchants National Bank & Trust co. And the associated press new York Exchange Wimerjr Nab Chrysler Mart  ads Case corp for motor s  Compaq gite co Walmart Merck at to Coristo Lecont it chg. New York a sales 4 . Price and net change of the is most Active new York Stock Exchange issues trading tuesday. Volume. 8,922,8008,806,000 4,834,000. 4,372,600 "-.-. 3.997,900 3.760,100 3,529,900 -. 3,248,000 3,119,100 2,997,800 2,611.300 2,530,500 2,362,400 j.292,0002,280,700 50 1 14t it 47v4 521 -ft19v4 unch 28v4 y4 38 of a 63h a 40h h 31v w. 23v unch 36v v4 53-1 15v4it american Exchange new York a sales closing Price and net Chang of the 10 most Active american Stock Exchange issues trading nationally tuesday. Name volume Viacom vat 10,727,000 Lacomb 2,648,000, pc Ltd 945,100cabletelcmn 779,700 Cheyn i 564,100towncntry 548.000 Echo Bay. 536,600gaylordcont 475,200 Viacom it 461,700 Ivan up. 438,100 list cftf.1v4 unch 40 v41 unch 8 i -,v.11h v4 1 1/1611wunch 9v4  3v4-1/1618v4 a Dow Jones new York Dpi Dow Jones closing Range of aver Ages on tuesday nigh Low Clou chinos 30 industrials 3871.45 3794.40 3826.36 off 3.37 20transport 1499.28 1472.26 1484.37 upl.63 15utilltles 178.82 175.72 176,84 off0.5965 stocks 1290.591266.101276.34 off 0.75 Wall Street Industry split Over fed s rate increase by Louis Uchitelle new York times the Federal Reserve s decision to in crease interest rates by the largest amount since 1981 intensified a debate Over whether the Federal Reserve should have acted at All. On one Side Are Many people on Wal Street who applauded tuesday s action which kicked up key rates by 0.75 percentage Point. They Are challenged by an unlikely coalition of manufacturers an labor leaders who charged that the in crease will Cut Back sales and eliminate jobs. A the debate is being fuelled by the fed decision to raise its Benchmark Federal funds rate which Banks charge one an other on overnight Loans from 4.75 per cent to 5.50 percent. The fed also decided to increase its discount rate which it charges to make direct Loans to Banks by0.75 percentage Point. The word from Wall Street is that the Economy is still too Strong and that the Central Bank will have to raise rates again by Early next year to control inflation this increase is entirely justified butt is not the last one in this Cycle said Henry Kaufman a Money manager Bon trader and economist in new York. At some Point in the next three months the will have to act again. The Economy is too Strong to be greatly affected or slowed bythe present level of  Kaufman predicted that the key Short term lending rate controlled by the fed eral Reserve which now stands at 5.5percent, would have to reach 7 percent. Only then he said will there be a so per Down in Auto sales Home construction consumer borrowing and the numerous other activities that now keep the Ameri can Economy growing briskly. But for Jerry Jasinowski president of the National association of manufacturers the fed s move May break the Backof the Economy. And unnecessarily so he argued. /. " the fed is fundamentally misreading the american Economy Jasinowski  ought to get out from behind their desks and see what is really happening implants and on factory floors across the demonstrators gather outside the Federal Reserve Board  on tuesday to protest a possible interest rate increase which came later in the Day.  the Al Cio agreed. What they redoing said John Zalusky an economist at the labor federation is coming Dowson the Side of the bloody bondholders who Don t want inflation to undermine the value of their  just As Industry and organized la orput aside differences to oppose a rate in crease Wall Street also closed ranks be Hind the fed s action. Kaufman s senti ments echoed across the financial markets silencing an internal squabble Between those who favored a bigger rat increase perhaps a full percentage Point and others who had said that Naif a percentage Point would be enough to slow the Economy. Slower growth intern reduces the risk of sharply rising prices. A. David Jones chief economist at Aubrey a Lanston a Wall Street Bond House was in the Camp that believes half Point increase would have been enough.\. Alan Greenspan is starting to fall into pattern Jones said referring to the Federal Reserve chairman. He is analysing the data slowly Between increases and recognizing the possibility that the Economy might be Able to grow More strongly than in the past without moreinflation.". There have been six rate increases sofar spread out Over the last 10 months. The Federal Reserve in a statement tuesday explaining the latest rate in crease said its action was taken against persistent strength in economic activity and High and rising resource  that Means the Economy is running out of workers As measured by the nation s Low 5.8 percent unemployment rate. Moreover companies cannot in crease their output of goods and services As measured by the capacity utilization rate because it has reached a very high84.9 percent in october. Eng fish language do starts a Prague Prague czech Republic a the first English language daily in Cen trial and Eastern Europe hit Newsstands monday with its publisher hoping tomake it an opinion Leader read by both foreigners and czechs there Are a lot of foreigners Diplo Mats and businessmen in this town said Erik Best the 32-year-old american pub Lisher of the Bohemia daily Standard. Best who Speaks fluent czech spent three years in Prague publishing a daily news bulletin a Brief summary of the czech press. Realizing the information Gap in a Cit where the other two English language publications Are weeklies Best decide to take the plunge. His eight Page paper costs 10 czech crowns or 40 cents. We Are starting out with a circulation of 10,000, but we Hope to reach 15,000," said Best from Chapel Hill . The project is privately financed with Best a major owner. No further details were available. Best employs a staff of 20, with leading editors often veterans of the English Lan gauge press in Prague after the 1989 revolution. We aim at serious and hard hitting news on a professional level including topics the czech press does not like to write about said Peter Green a former up correspondent in Prague and the paper s Deputy editor. Public meeting to of pm of Detroit a the Federal government said tuesday that it would proceed with a Public meeting on whether millions of general motors corp. Pickup trucks should be recalled for an alleged defect that could ignite fuel tanks in crashes. The meeting sponsored by the department of transportation promises to be a Public relations disaster for the automaker with appearances by families of crash victims and survivors of fiery wrecks of the 1973-87 pm cd trucks. The department rejected a pm proposal that the dec. 6 hearing be cancelled and the Issue be taken directly to Federal court. Pm responded angrily repeat ing its Contention that the trucks Are Safe and a recall in t warranted. Transportation Secretary Federico Pena scheduled the session last month and announced he had determine that the pickup trucks present an unreasonable risk of fire or explosion in Side Impact collisions because their fuel tanks Are mounted outside their frames. In a letter tuesday to pm the department s general counsel said the Type of Public meeting it envisions is important to further inform the department of additional relevant factual and Legal matters before it decides on a recall. The department also placed a notice in the Federal Register asking that the meeting be used to gather in formation that supports or refutes the technical Analy Sis on which Pena based his initial decision and information on whether or when pm knew the fuel tank design created increased risk. It also asked for information on what constitutes an unreasonable risk. In response the company said Resolution of the truck Issue will be delayed by having the orchestrated talk show which the Secretary contemplates and in which plaintiffs attorneys and Industry critics will seek to command the  Pena acknowledged when he announced his initial decision that the pm trucks met Federal safety Stan Dards but he said the Law requires that they also be Safe in real world