European Stars and Stripes (Newspaper) - September 3, 1995, Darmstadt, Hesse                                Page 20 the stars and stripes Money matters sunday september 3,1995 Dollar watch a a a cd shown below Are the highest Dollar Exchange rates for the week of aug. 28-sept. 1 compared with Dollar rates for the same period one year and five years  Mark one Dollar would buy you 1.44 154 154 1995 i 1994 i 1990 i Mimi. A.  Mumm Mumm a military Exchange rate British Pound one Pound would Cost you 158 1.57 192 1995 i 1994 l 1990 belgian franc one Dollar would buy you 32.57 32.22 30.41 1995 1994 dutch Guilder 1990 one Dollar would buy you i a 1.73 1.77 1 .01 a a a a. A a a a 1995 l 1994 1990 5.07 French franc one Dollar would buy you 5.41 5.26 Jujj greek drachma one Dollar would buy you 237.57 239.20 154.84 1995 1 1994 italian lira 1990 one Dollar would buy you 1,630 1.599163 1995 i 1994 j 1990 i he Bah Mil. Mama Mamma Spanish peseta one Dollar would buy you 126 131 98 1995 1894 1990 in it turkish lira one Dollar would buy you 48,120 Quot 34,425 1995 1994 2,697 1990 Clinton puts pay raise at 2.4% for . White Collar workers Honolulu a Federal White Collar workers will receive a 2.4 percent pay raise in january under a directive by president Clinton that headed off a potential salary boost More than twice that size. The 2.4 percent increase Clinton approved Friday had been expected since that was the figure lie proposed both in his fiscal 1996 budget and his balanced budget plan. The increase is equal to the. 2.4 percent Basic pay increase he proposed for military personnel. Without action by the president pay increases costing an estimated 5.1 percent of payroll would have taken effect automatically in january under current Federal Law. The 2.4 percent raise consists of two parts a 2.0 percent increase in the base pay schedule received by employees worldwide and a 0.4 percent Overall payroll increase to be used for locality pay adjustments in the 48 states other than Alaska and Hawaii. Clinton announced his decision during a four Day visit to Hawaii to commom orate the 50th anniversary of a a Day. Investors key in on Bank stocks after a string of recent mergers by Patricia Lamiell a business writer new York banking stocks got a boost last week when chemical banking corp. And Chase Manhattan corp., Long rumoured to be courting agreed to tie the knot. The proposed $10 billion Deal which needs shareholder and government approval is the most recent and perhaps flashiest in a string of Bank mergers and acquisitions. It prompted investors to step up their already hot Pursuit of Bank ing company stocks and burnished even further the sectors shining performance record so far this year. A investors Are very much warmed to the notion that this consolidation is an ongoing event a said James j. Mcdermott jr., president of the new York investment banking firm Keefe Bruyette amp Woods. A it reinforced a buoyancy in the Bank Stock Market that has been present so far this year a As of Friday morning Keefer a Index of 24 banking stocks was up 3.4 percent for the week 6 percent for August and 36 percent for the year. That compares with a 24 percent gain in the Dow Jones Industrial average even with those Price appreciations Bank stocks Are relatively cheap Mcdermott said trading at an average of 9 times projected earnings compared with about 15 times for stocks in the Standard amp poor a 500 composite. Stocks in general should be bought based on fundamental strength analysts warned with gains from mergers merely frosting on the cake. But on a fundament Taf basis Mcdermott said banking stocks Are attractive. American Exchange new York apr of the 10 most Active trading Friday. Nam. Viacom vat Ensco Turners b spor a Borsand a Lacomb Organon. Turnera Twan Echo Bay sales closing Price and net change american Slock Exchange issues volume last 6,314,000 m 1,446,900 19 941,400 a 30% 629,900 56 21/32 chg. 570,300 466.100 441,500 433.100 377.200 354.200 9 % 48% 20% 29% 5vi 10�?T/4 1 -1 % r Dow Jones j new York apr Dow Jones closing Range of Avor Ages Friday 30 industrials 20 transport -.15 utilities a 65 stocks of Del 4672.19 1929.65 204.32 1579.17 Low 4594.71 1893 01 201.49 1552.24 close change 4647.54 up 36.98 1912.49 of 11.60 203 66 up 1 3 1569.32 up 11.20 new York Exchange new York apr sales closing Price and net change of the 15 most Active new a trading Frida York Stock Exchange issues a name volume last chg. Global mar 5,498.500 7% % for motor a 4,467,700 31% % Chrysler 3.712,800 54% % Micro techs a a 3.184,400. 76% % Brinker. 2.946,100 1 Svok -1%. Rowan 2,670.900 8% % a. Gen motors 2,468,300 48% 1% to Cimex aos 2.278.500 32% Fri Mcm s 2,234,200 5% % Motorola ,. V 2,138,700 74% % 0res5erlnd a a 2.099,000 25 1. Merck 2,053,600 50% h Baker Hughes a. 2,052.900 23% yet Walmart \. 1,912.900 24% to h. Pfizer s1.829,800 48 -1% despite vast oversupply of banking services in some areas including new York City a the operating environment is benign for. Banks a he said. A interest rates Are stable there is moderate growth in the Economy. Balance sheets Are As clean As they be been in 30  although Mcdermott said he will not Rule out More mergers among the huge Money Center Banks investors who want to make a mergers and acquisitions play in banking stocks should stick to Large regional Banks. Mellon Bank corp., whose Stock gained nearly 5 Points last week after the chemical Chase merger was reported could be an acquirer or a possible target Mcdermott said. Mellon s Stock closed Friday at 467/�, Down i. Bank of Boston which has been to the altar a few a times is another Likely candidate Mcdermott said As Well As first american corp. In Nashville com circa in Detroit and Standard Federal Bank in Troy Mich. Further consolidations could occur a wherever you have a Large concentration of banking services which is the Case in the Midwest South and mid Atlantic a on Friday the Dow Jones Industrial average gained 36.98 Points to close at 4,647.54, reversing two Days of modest losses in quiet pre Holiday trading. The . Financial markets Are closed on monday for labor Day. The Dow average gained 46,14 Points for the week. The american Stock exchanges Market value Index added 1.20 to 535.66, Topping its closing record set on thursday. The amex Index gained 4.69 for the week. The Nyser a composite Index Rose 1.23 to 303.23, up 2.38 for the week. Stern show settles indecency charges Washington a after six years of Legal wrangling the company that produces and broadcasts a Shock Jock Howard Sterns radio show is pay ing s1.7 million to Settle several indecency charges. Under the negotiated agreement announced by the Federal communications commission on Friday Infinity broadcasting corp. Admitted no wrongdoing or liability in the five separate rulings by Federal regulators Between 1989 and 1994. The acc agreed to dismiss another five pending complaints the commission said m a statement. The s1.7 million settlement is $9,000 More than the total of acc fines pending against three Infinity stations that carry Sterns show work in new York City Wasp in Philadelphia and Wjk in Manassas a. Mel Karmazin president of new York based Infinity said in a statement that Resolution of the acc charges maintains the company so a Pristine record and will a enhance our Opportunity to further expand the Howard Stern program into additional  dozens of pages of transcripts from Sterns daily radio show documented the a a graphics and a patently offensive material on which the acc based its rulings. Robert Ratcliffe the pc cd a assistant chief for Law said the broadcasts at Issue ranged from graphic discussions of masturbation and child molestation to a segment in which Stern talked about shaving his posterior. Karmazin said Infinity still believes Sterns material would not be found legally indecent in court. But the settlement a will conserve the time expenses and human resources of the parties involved in litigation he said. Noting that the acc has logged no actionable complaints against Sterns show since the commissions most recent ruling in january 1994, Ratcliffe said regulators Are satisfied that Infinity has cleaned up. Its programming. Sis $ believe it when someone says Quot there s no better time to plan for the future than the  providing die Opportunity for every professional military family to achieve financial Independence. Germany / 06221-37631 England / 01638717700 Italy / 1678-73428 toll free spa ural a 1995  it March Agency far lift Imit arct. Inc. Ira Smied so Mcva pc Mairig Ai Idason inc. Spa