European Stars and Stripes (Newspaper) - November 27, 1994, Darmstadt, Hesse                                Page 12 the stars and stripes Money matters sunday november 27,1994 Dollar watch shown below Are the highest Dollar Exchange rates for the week of nov. 21 nov. 25 compared with Dollar rates for the same period one year and five years ago. German Mark one Dollar would buy you 1 at 1 841.52 1-67 i 1894 i 1993 i 1989 Imam Mumm i my Miami military Tschang rite British Pound one Pound would Cost you 1 61 1.53 1-56 i i i 1994 i 1993 i 1989 i a Mumm a tymm tymm belgian franc one Dollar would buy you a 38-8132.00 r 36 49 i 1994 i 1993 i 1989 i he 99flm9j9j919h9jb dutch Guilder one Dollar would buy you 2.08 1.70 1.93 1994 i 1993 1989 French franc one Dollar would buy you k5.34 5.95 6 1994 i greek drachma one Dollar would buy you 239.73 238.82 165.60 italian lira one Dollar would buy you 1,605 1,688 1,354 Spanish peseta one Dollar would buy you 129.82 "8.78. Turkish lira one Dollar would buy you 36,000 1994 13,606 1993 i 2,318 1989 Many americans to tighten new York a if bargain Hunt ing seems especially frenzied at the mall perhaps it s because a third of americans plan to Cut Back on gifts this Christmas. An associated press poll this Mont found that Only 14 percent intended to spend More Money on gifts and 50 per cent planned to spend about the same As the last few years. Three percent Don know or Don t buy gifts. The 33 percent in the poll who plan to spend less Money on gifts this Holiday. Season is virtually unchanged from no vember 1992, when president Bush failed to convince voters that the Economy was rebounding. The spend less figure was 40 percent in november 1991, at the begin Ning of a tight listed Holiday  who count on the Holiday for a Large share of their yearly profits will find some cheer in the poll s finding that 55 percent expect to have More Money next year than this  financial expectations have risen slightly Over the past two years especially among the Young and employed. Seventy four percent of those younger than 35 expect to have More Money As do 67 percent of those working full . But among americans age 65 and older the percentage who expect to have less Money next year doubled to 38 per cent from 19 percent in 1992. Among Al adults in the poll 25 percent think they la have less Money and 18 percent predict about the same. The poll of 1,005 adults was taken nov.18-22 by ice Survey research group of Media pa., part of aus  have a sampling error of plus or minus 3 percentage Points. About half of those polled 48 per cent think their Community will have More jobs next year up from 41 percent a of shoppers May be Elbow to Elbow at this shopping mall in Columbus Ohio on Friday but Many americans say they will spend less on Christmas gifts this year. Year ago and better than the 40 percent who expect fewer jobs. But Confidence in a growing Job mar Ket depends heavily on one s wealth it is 38 percent among those with family in comes under $25,000 a year 56 percent among those with higher incomes. The recent Rise in interest rates above by the Federal Reserve to guard against inflation makes Only 18 percent feel More hopeful about the Economy. A majority of Middle age and upper income adults feel less hopeful As a result of the interest rate increase. Most americans 86 percent Are some what or very concerned about prices going up. That is unchanged from a Pollin april but the very concerned por Tion Rose from 51 percent to 57 percent. Almost two thirds of those who consider themselves democrats said they Are very concerned about rising prices com pared with about half of republicans. Republicans made up 33 percent of the adults polled outstripping the 30 percent who called themselves democrats. I is new York a what do Stock investors want judging from the recent Market rout it appears they won t be satisfied until interest rates Stop rising. Investors staged a Selling tirade Earl last week yanking their Money out of equity investments and putting it int fixed income investments such As Bonds. They did it for one reason rising interest rates monday s and tuesday s activity which pushed the Dow Jones Industrial average Down by 137 Points was a lagged response to the Rise in Short term interest rates that we be already seen said Rich Ard Hoey chief economist at Dreyfus corp. The Dow partly recouped Friday after the thanksgiving break advancing 33.64 to 3,708.27. But trading volume was Light and the Best known barometer of the Market still finished the week with a106.99-Point loss. Until rates Stop rising stocks will be under Selling pressure analysts  credit tightening by the Federal re serve this year the most recent on nov. 15 have sent Bond yields to such lofty Levels that investors decided to jump , stocks have offered a total annual return of about 9 percent said Michael Metz Market strategist at Oppenheimer & co. Considering the credit risk that Stock investors take that starts to look unattractive to investors who cannot get nearly 7.90 percent on a risk free 10-year Treasury  lot of investors have finally realized that Bonds Are much More attractive than stocks Metz said. Analysts said another reason higher rates Are a sell signal for stocks is that they could choke off the economic recon Dow Jones new York up Dow Jones closing Range of averages Friday. Nigh Low Clou changt30 industrials 3722.40 3675.97 3708.27 up 33.64 20transport 1434.77 1419.63 1429.18 up6.9915 utilities 180.53 177.10 179.61 up 2.11 65 stocks 1247.23 1231.30 1242 23 up 10.12 new York Exchange new York a of the 10 most Active trading Friday. Nam wire Viacom vetch Modeva Echo Bay Lacomb  a  Viacom sales closing Price and net Chang american Stock Exchange issues volume 1,203,100 436,000 360.000. 339,600. 284,200 212,100 178,200 176,300 174,500 172,800 Lail cd. 12vi unch 19/16-1/16 3 5/16 11 h 7v4 19 11h 12w 39v4 Ery by raising corporate borrowing costs and discouraging consumer purchases. And Many Are not convinced that the fed is finished tightening until recently the Dow had held up fairly Well compared with smaller Stock indexes because investors assumed that Industrial companies would Benefit froma growing Economy. But earlier this month they began dumping economically sensitive stocks such As manufacturing and some consumer issues because they fear these Compa Nies will suffer most if the Economy sours analysts said. We were in the midst of an economic recovery which certainly was very favor Able to Industrial and cyclical stocks in american Exchange new York apr of the 15 most Active trading nationally Friday narnia pm Gap Tel Max Atsatt corp  Walmart Motorola i ism Merck a Barrick. Chrysler Mart Geneles Ira Nab  sales closing Price and net Chang new York Stock Exchange issues volume 1,579,000 1.519,700 1,398.500 1,288,500 1,274,500 1,236,200 .1.103.400 1,095,700 1,076,700 1,072,800 1,054,400 885,300 875,500 869.400 792,300 Tail cd. V4 1 49v4 vt42 v4 38h 23h 56h 70v4 v4 2m 48h 14 46v4 unch 65/32-3/32 6v4 m v4 the Dow average said Hildegard Zagorski a Market analyst at Prudential securities. But climbing rates could put an end to the party she said. That has fuelled a fear that corporate earnings which have supported Stock prices All year and so far have been in vulnerable to higher rates May have reached a Peak Zagorski said. The weak Dollar rising commodity Price Sand fears that possible tax cuts will boost the deficit Are All incentives for the fed to keep raising rates Charles Laloggia wrote in his special situation report newsletter published in Rochester . On Friday the nose composite Index Rose 1.42 to 247.60, Down 4.70 Tor the week. Standard & poor s 500-Stock Index Rose 2.36 to 452.29, Down 9.18 for the week. The Nash a composite Index Rose 5.82 to 742.52, Down 22.15 for the week. The american Stock Exchange s Market value Index Rose 2.29 to 434.69, bringing its weekly loss to 9.35 Points