European Stars and Stripes (Newspaper) - December 03, 1994, Darmstadt, Hesse                                Page 18 the stars and stripes Money matters saturday december 3,1994 today s rates following Are fixed rates at which Community banking an credit Union facilities will sell for eign currencies to . Personnel for personal use British Pound. 1.61 dutch Guilder. 1.71 German Mark. 1.54 note Trio rates above apply within the Host country. Figures Are expressed in dollars to the British Pound other currencies to . Following Are Interbank rate that fluctuate and should be regarded As the approximate value of the . Dollar to foreign Curren Cieser  austrian Schilling. 11.0365 Bahrain Dinar. 0.37675 belgian franc .32.37 British Pound. 1.5655 Canadian Dollar. 1.3777 danish Krone. 6.1315 dutch Guilder. 1.7638 French franc. 5.399 German Mark. 1.576 greek drachma. 242.70 italian lira. 1,610.91 Kuwait Dinar. 0.2993 norwegian Krone. 6.8184 portuguese escudo. 160.20 saudi Royal. 3.7504 Spanish peseta. 130.75 Swiss franc 1.3315 turkish lira. 36,450.00 note figures Are expressed in dollars to the British Pound other currencies to  Gold quote $378.95 an ounce Silver quote $4.91 an ounce sources merchants National Bank & Trust co. And the associated press new York Exchange new York a sales 4 . Price and net change Olathe 15 most Active now York Slock Exchange issues trading nationally  nit volume last  9,909.800 " re Nab _ j _ll-_5.663,400walmart .4,901,600 nations by 4,423,800 Olgita Leq. 4,232.600.chrysler 3,487,800. Compaq s 3090,200". Merck2,940,800 Penney pc 2,752,100 at corp .2,684.900moorecorp -2,613,600 Philllp morals 2,504,200 Motorola a 2,490,500 for motors. 2,339,000.chembank / 65/32-5/3222h 44% a 3w -2 /4 47% vt"38v4 % 37h t 1/42v4 -3v4 48v4 17hvunch 58 % 5614 i 27 vt2,119,300 36h." v4 american Exchange Lul 10 /4 38h 3 5/16 cd. New York a sales closing Price am net charge of the 10 most Active american Stock Exchange issues trading nationally thursday mint a  Lacomb Royal Oak. Che Stu a Borsand Spur  vat  Mun Vest volumt695,000 657,700510,800 450,000 ,12 /4 v4445,300  6tt m 1439,000 45 9/64-.29/64.-416,700 -1w 4-1/16 378,500 6v4 h354,40032y4 .-1 /4 302,600 8 a Dow Jones new York up Dow Jones closing Range of aver Ages thursday High Low Clou change 30 industrials 3755.37 3680.68 3700.87 Oft 38.36 20 transport-1449.91 1422 66 143t.04ofm2.35 15 utilities 179.01 175.92 177.04 off 2.50 65 stocks 1255.98 1231.86 1238 92 off 12.81 share holders of merger with Macy Cincinnati a shareholders of Federated department stores inc. Approved this week the company s merger with . Macy & co. Inc., a Combina Tion that would create a retail Empire with $13.5 billion a year in sales. Federated said More than 98 percent of 94.4 million shares voted were in favor of the merger it clearly is a Good Deal said Alle Questrom Federated s chairman and. Chief executive officer the Deal still must be approved  a creditors and the . Bankruptcy court in new York. Postal hike to be costly . Business Lea Washington a businesses Are disappointed bruised angry and in some cases relieved at the new postal rates scheduled for january. Some feared the increases would be worse. The 3 cent Rise to mail a letter is a Tri fling amount to some people for Busi Nesses however a 14 percent increase in rates could Cost them millions. The changes will net the . Postal service an extra $4/7 billion in 1995, according to the postal rate commission which approved the new charge wednesday John Sutter publisher of the Yankee trader a shopper published in new York termed the new rates hurtful to the Small businesses that advertise in his mailed paper. The commission s decision ignores the voice of the customer complained Rober Kamerschen chairman of the Windsor  and vol the nation s largest third class Mailer. He said the higher rates punish advertising mail even though it costs the Post office less to handle. ? this is going to Hurt a Jot. .".". They Don t seem to get it that Perinis at the postal service Means big dollars to our store said Adrian Fredericks owner of in years new York a american manufacturing surged in november to its Healthiest level in 10 years a Survey olfactory managers said thursday. It was the latest sign of . Economic strength. The Survey by the National association of purchasing management came against a backdrop of other reports thursday that indicated higher interest rates have not yet dented economic growth on the consumer level " the purchasing roup said its Index ofmanufacturing1 growth Rose to 61,2 per cent in november from 59.7 percent the previous Morith it was the 15th consecutive month of growth and the highest Index Reading since february 1984. Analysts had estimated a Reading of 60 percent. A Reading above 50 percent Indi Cates the manufacturing Economy is expanding while a Reading below 50 per cent indicates a decline. Ralph Kauffman chairman of the association s business Survey committee and procurement manager at Oryx Energy co., said manufacturers Are busier than they have been in years keeping up with demand for their products. A the manufacturing sector is perform ing very strongly Kauffman said. Stock and Bond prices sagged thurs Day reacting to a slew of positive eco nomic reports including the manufacturing Survey. Investors Are worried that growth will fuel inflation which erodes the value affixed income assets. Signs of inflation then May prompt the Federal Reserve to. Increase interest rates which can erode corporate profits. Analysts said the reports could justify another interest rate increase Early  fed has raised rates six times this year to slow the Economy. Because of seasonal factors the Pur chasing manager s report showed that the prices paid Index the number of manufacturers reporting Price increases for raw materials dipped in november to77.9 percent from 79.9 percent in octo Ber. A i he commission s decision ignores the voice of the customer Robert Kamerschen adv chairman nation s largest third class Mailer five Buck pizza in Provo Utah. For the hundreds of thousands of mom and pop stores who rely on mailed Community papers Coupon programs another third class advertising to keep in touch with customers this decision really hurts added Donna Hanbery executive director of the Minneapolis based Alli Ance of Independent store owners and professionals. The new rates expected to take effect in january increase the Cost of business mail More than the Post office had suggested while reducing some proposed raises in first class rates. The Early returns Are that those who got a higher rate of course Are not Happy about that said Arthur sacklerj6fx the mailers Council. His  coalition of major mailing groups had spearheaded a plan for an across the Board 10.3 percent rate increase for All types of mail. But Sackler said the changes the rate commission made in the postal service s original plan were not severe. Nobody is either jumping for Joy or jumping out windows he said. It s not As bad As we feared agree business mail consultant John Jay Daly of Chevy Chase md., who said he had warned clients that the commission might raise rates As much As 18 percent. The rat5 commission decided on a 14percent increase for mailing advertising and publications while holding the in crease in first class to about 8.9 percent. For some Large companies the in crease could Cost More than $20 million next year said Tom Shimko vice presi Dent of Pitney Bowes mailing systems. The commission has penalized what has been a profitable sector of postal business contended Jonah Gitlitz pres ident of the direct marketing association. Advertisers May have to find other ways to deliver their message he said. An electrifying Parade an electric powered general motors Impact Sedan leads a float during a Parade at Dis Neyland on thursday in Anaheim Calif. The event featured More than 20 electric vehicle from the United states Asia and Europe. Experts from around the world Are attending the 12th International electric vehicle symposium now going on at the Disneyland hotel where they Are discussing the latest developments in electric vehicle technology. Income spending in . Up for october Washington a americans income surged 1.4 percent in october. The ninth straight increase and the big Gest jump in eight months. The Commerce department also re ported thursday that spending Rose 0.7 percent in october the strongest show ing since it advanced 0.9 percent in a gust. Disposable income income after taxes also climbed 1.4 percent in octo Ber. .-._-. The Overall income gain was the larg est since it Rose 1,7 percent in february. Income last fell in january when i slipped 0.6 percent. Consumer spending which accounts for two thirds of the nation s Gross Domestic product was up for the sixth straight month and  the last nine