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LOWER INTEREST RATES SEEN FOLLOWING IRISH BUDGET
| Financial markets welcomed public
spending cuts announced by Ireland's new minority government in
its budget, saying the move would lead to lower interest rates.
Finance Minister Ray MacSharry, making cuts across the
board, reduced the Exchequer Borrowing Requirement to 1.85
billion punts, 10.7 pct of G... | Corporate News |
SUN ALLIANCE reports sharp profit rise
| Year 1986
Shr 64.2p vs 14p
Div 16p making 23.5p vs 17.5p
Pretax profit 180.4 mln stg vs 37.7 mln
Net after tax 137.1 mln vs 34.9 mln
Minorities 10.5 mln vs 7.2 mln
General premium income 1.99 billion stg vs 1.78 billion
Long term premium income 704.5 mln vs 576.6 mln
Ge... | Corporate News |
BOLIDEN SAYS IT NOW LEADER IN MINING GEAR
| Swedish mining and metals group
Boliden AB <BLDS.ST> said the takeover of the U.S.
Allis-Chalmers Corp's <AH.O> mining machinery division made it
the world's leading maker of such equipment.
President Kjell Nilsson, announcing the 600 mln crown deal,
told a news conference Boliden would now become... | Industrial and Sector News |
U.S. CREDIT MARKET OUTLOOK - PRIME RATE
| The prospect that other banks will
follow industry leaders Citibank and Chase Manhattan in raising
their prime rate is likely to cast a pall over the credit
markets today, economists said.
Bond prices had been making a smart recovery from two days
of heavy selling when Citibank surprised the market by
... | Corporate News |
CEREALS MCAS TO BE UNCHANGED NEXT WEEK
| Monetary compensatory amounts, MCA's,
will be unchanged for the week starting April 6, EC Commission
officials said.
Cereals MCA's are plus 2.4 points for West Germany and the
Netherlands, minus two points for Denmark, minus eight points
for France, minus nine for Ireland, minus 5.7 for Italy, minus
2... | Financial Reports |
U.S. SUPREME COURT ALLOWS DELTA-WESTERN MERGER
| U.S. Supreme Court Justice Sandra Day
O'Connor early this morning lifted an Appeals Court injunction
blocking the planned merger of Delta <DAL> Airlines
Inc and Western Airlines <WAL>, the Court said.
O'Connor's action came hours after a three-judge panel of
the 9th U.S. Circuit Court of Appeals i... | Financial Reports |
U.K. MONEY MARKET DEFICIT REVISED DOWNWARDS
| The Bank of England said it has revised
its estimate of today's shortfall to around 1.25 billion stg
from 1.3 billion before taking account of 775 mln stg morning
assistance.
| Financial Reports |
ICO COFFEE PRODUCERS TO DISCUSS MARKET SITUATION
| International Coffee Organization, ICO,
producers will meet at 1500 GMT (0900 est) for a general
discussion of the market situation, producer spokesman
Lindenberg Sette said.
The Brazilian delegate said several producers requested the
meeting but Brazil was not among them. The ICO executive
board's re... | Market and Economy |
CITADEL <CDL> SETTLES WITH GREAT WESTERN <GWF>
| Citadel Holding Corp said it
has settled its litigation with Great Western Financial corp.
The company said under the terms, Great Western has agreed
not to acquire or seek to acquire any voting securities of
Citadel or propose a merger with Citadel for five years, and
Citadel has paid Great Western six... | Financial Reports |
SOSNOFF ENDS DEAL WITH PRATT, SOUTHMARK ON POSSIBLE
| VENTURE FOR CAESARS BID
SOSNOFF ENDS DEAL WITH PRATT, SOUTHMARK ON POSSIBLE
VENTURE FOR CAESARS BID
| Financial Reports |
BP <BP> STARTS BID FOR STANDARD OIL <SRD> SHARES
| British Petroleum Co PLC said it has
started its previously announced 7.4 billion dlr offer to
purchase the 45 pct interest in Standard Oil Co that it does
not already own for 70 dlrs per share.
In a newspaper advertisement, the company said the offer,
which is not conditioned on receipt of any minimum ... | Financial Reports |
VISUAL TECHNOLOGY <VSALC> CONTROL CHANGES
| Visual Technology Inc said a group
led by <Hambrecht and Quist Group> has acquired majority
ownership of Visual for 9,250,000 dlrs in equity financing.
The company said Hambrecht and Quist president William R.
Hambrecht and three other Hambrecht and Quist representatives
have been named to the Visual... | Financial Reports |
CPC INTERNATIONAL TO SELL STAKES IN ASIAN UNITS FOR 340
| MLN DLRS TO AJINOMOTO
CPC INTERNATIONAL TO SELL STAKES IN ASIAN UNITS FOR 340
MLN DLRS TO AJINOMOTO
| Financial Reports |
CAREPLUS INC <CPLS> 4TH QTR NET
| Shr loss nil vs profit nil
Net loss 17,000 vs profit 31,000
Revs 5,429,000 up 27 pct
Year
Shr profit four cts vs profit five cts
Net profit 523,000 vs profit 421,000
Revs 18.3 mln vs 11.6 mln
Avg shrs 15.2 mln vs 8,941,000
NOTE: Year net includes tax credits of 131,000 ... | Corporate News |
JOHN ADAMS LIFE CORP <JALC> 4TH QTR LOSS
| Oper shr loss 24 cts vs profit 24 cts
Oper net loss 716,000 vs profit 729,000
Revs 3,673,000 vs 7,826,000
Avg shrs 2,930,000 vs 2,930,000
Year
Oper shr profit nil vs profit 1.31 dlrs
Oper net profit 10,000 vs profit 3,200,000
Revs 12.9 mln vs 26.3 mln
Avg shrs 2,930,000... | Financial Reports |
TEMPO ENTERPRISES INC <TPO> YEAR NET
| Shr 40 cts vs 36 cts
Net 2,309,000 vs 2,076,000
Revs 28.2 mln vs 30.4 mln
| Financial Reports |
UNITED HEALTHCARE CORP <UNIH> 4TH QTR NET
| Shr 10 cts vs 13 cts
Net 1,553,000 vs 1,541,000
Revs 73.1 mln vs 32.1 mln
Avg shrs 15,474,000 vs 12,316,000
Year
Shr 47 cts vs 24 cts
Net 7,241,000 vs 2,835,000
Revs 216.2 mln vs 101.2 mln
Avg shrs 15,492,000 vs 11,921,000
Note: Net income includes extraordinary p... | Financial Reports |
SWEDEN RAISES FUEL TAXES TO FUND DEFENCE SPENDING
| Sweden announced tax increases on
petrol and heating oil from July 1, 1987 to help finance a 1.7
pct rise in defence spending over the next five years.
A Finance Ministry statement said the increase should boost
the price of petrol by 0.13 crowns to an average of 4.21 crowns
per litre while light-grade ... | Financial Reports |
KENYAN MINISTER FORECASTS ECONOMIC EXPANSION
| Kenya's economy will continue to expand
this year and the government will do more to encourage
investment by foreign firms and the local private sector,
Planning Minister Robert Ouko said.
He told a news conference that the government would soon
create a special bureau to expedite processing of investme... | Market and Economy |
PEOPLES BAN CORP <PEOP> SEES 1ST QUARTER NET UP
| Peoples Ban Corp said it expects to
report first quarter earnings of over six mln dlrs, including a
gain of 1,600,000 dlrs from the settlement of a dispute with
the Internal Revenue Service and the sale of four banking
offices in Vancouver, Wash.
The company said it expects to report "normal" earnings f... | Financial Reports |
MAXXAM GROUP INC <MXM> 4TH QTR LOSS
| Shr loss 1.61 dlrs vs loss 47 cts
Net loss 19.2 mln vs loss 5,716,000
Revs 46.4 mln vs 11.0 mln
Year
Shr loss 2.01 dlrs vs loss 29 cts
Net loss 24.5 mln vs loss 3,548,000
Revs 150.2 mln vs 24.4 mln
NOTE: 1985 net includes tax credits of 7,336,000 dlrs in
quarter and 10.2 ml... | Corporate News |
FRENCH CEREAL EXPORTS THROUGH ROUEN UP IN MARCH
| French cereals exports through Rouen port
rose to 751,563 tonnes between March 1 and March 25 from
603,413 tonnes in the same 1986 period, freight sources said.
The Soviet Union took 263,051 tonnes of wheat and barley,
Saudi Arabia 90,944 tonnes barley, China 87,259 wheat, Algeria
64,896 wheat, Banglade... | Financial Reports |
FAO APPROVES EMERGENCY FOOD AID FOR ETHIOPIA
| The United Nations Food and Agriculture
Organization, FAO, said it approved emergency food aid worth
more than 14.3 mln dlrs for drought victims in Ethiopia.
The aid will include 30,000 tonnes of wheat and 1,200
tonnes of vegetable oil for farmers in the Wollo and Illubabor
regions.
FAO said it ha... | Financial Reports |
SOSNOFF ENDS PRATT <PRAT>/SOUTHMARK <SM> DEAL
| Investor Martin T. Sosnoff said
Southmark Corp and affiliate Pratt Hotels Corp have ended talks
with his MTS Acquisition Corp on a possible joint venture for
the acquisition of Caesars World Inc.
Sosnoff said the talks had not been actively pursued since
they were announced March 20, but it had been agr... | Market and Economy |
CPC INTERNATIONAL <CPC> TO SELL ASIAN STAKES
| CPC International Inc
said said it has agreed in principle to sell interests in its
grocery products operations in Hong Kong, Malaysia, the
Philippines, Singapore, Taiwan and Thailand to <Ajinomoto Co
Inc> of Japan for 340 mln dlrs.
The company said the move will reduce Asian overhead and a
substan... | Corporate News |
ENERGY DEVELOPMENT <EDP> COMPLETES MAY <MEP> BUY
| Energy Development Partners Ltd said
it has completed the acquisition of May Energy Partners Ltd for
1,817,697 depositary units following approval yesterday by May
Energy unitholders.
Energy Development said May Petroleum Inc <MAYP>, general
partner of May Energy, will distribute about 35 Energy
De... | Financial Reports |
U.K. INTERVENTION BOARD DETAILS EC SUGAR SALES
| A total 102,350 tonnes of current series
white sugar received export rebates of a maximum 46.864
European Currency Units (Ecus) per 100 kilos at today's
European Community (EC) tender, the U.K. Intervention Board
said.
Out of this, traders in France received 31,000 tonnes, in
West Germany 21,000, in B... | Commodities and Trade |
TURKISH INFLATION INCREASES IN MARCH
| Inflation in Turkey was 3.7 pct in March
compared with 1.7 pct in February and 1.3 pct in March 1986,
the State Statistics Institute said.
The annual rate rose to 34.7 pct in March compared with
31.7 pct in February and 34.2 pct in March 1986. The
government's target is to reduce inflation this year to ... | Financial Reports |
SCHERING-PLOUGH <SGP> MULLS DR. SCHOLL'S SALE
| Schering-Plough corp said it is
considering the sale of its Dr. Scholl's businesses in Europe,
Latin America and the Far East, which had sales of about 150
mln dlrs in 1986.
The company said the transaction is not expected to have a
material impact on earnings. It said it has engaged Merrill
Lynch an... | Other |
FAMILY DOLLAR STORES INC <FDO> 2ND QTR FEB 28
| Shr 28 cts vs 31 cts
Net 8,117,095 vs 8,954,904
Sales 146.7 mln vs 133.0 mln
Avg shares 29.0 mln vs 28.9 mln
First half
Shr 48 cts vs 53 cts
Net 13.8 mln vs 15.2 mln
Sales 273.0 mln vs 242.1 mln
Avg shrs 29.0 mln vs 28.9 mln
| Corporate News |
MCO HOLDINGS INC <MCO> 4TH QTR LOSS
| Oper shr loss 2.27 dlrs vs loss 1.62 dlrs
Oper net loss 12.7 mln vs loss 12.1 mln
Revs 60.0 mln vs 26.2 mln
Year
Oper shr loss 5.16 dlrs vs loss 1.56 dlrs
dOper net loss 29.0 mln vs loss 12.4 mln
Revs 139.3 mln vs 110.0 mln
NOTE: 1985 operating losses exclude profits of 19.5 ... | Corporate News |
BUNDESBANK WILL NOT HOLD PRESS CONFERENCE TOMORROW
| The Bundesbank will not hold a press
conference after its regular fortnightly council meeting
tomorrow, a spokesman said in answer to enquiries.
Bundesbank vice-president Helmut Schlesinger will chair the
meeting, as president Karl Otto Poehl has a private engagement.
The next meeting is scheduled f... | Corporate News |
MANUFACTURERS HANOVER RAISES PRIME RATE TO 7-3/4 PCT FROM
| 7-1/2, EFFECTIVE TODAY
MANUFACTURERS HANOVER RAISES PRIME RATE TO 7-3/4 PCT FROM
7-1/2, EFFECTIVE TODAY
| Financial Reports |
RANSBURG CORP <RBG> 1ST QTR FEB 28 LOSS
| Oper shr loss 19 cts vs profit one ct
Oper net loss 1,495,000 vs profit 50,000
Revs 52.3 mln vs 48.9 mln
NOTE: Earnings exclude gains from utilization of tax loss
carryforwards of 82,000 dlrs, or one ct a share vs 300,000
dlrs, or three cts a share
| Financial Reports |
CONRAC CORP REJECTS MARK IV INDUSTRIES TENDER OFFER,
| EXPLORES ALTERNATIVES
CONRAC CORP REJECTS MARK IV INDUSTRIES TENDER OFFER,
EXPLORES ALTERNATIVES
| Financial Reports |
MANUFACTURERS HANOVER <MHC> RAISES PRIME RATE
| Manufacturers Hanover Trust Co became
the third major U.S. bank to increase its prime rate to 7-3/4
pct from 7-1/2, matching a move initiated yesterday by Citibank
and Chase Manhattan.
The bank, the main subsidiary of Manufacturers Hanover
Corp, said the new rate is effective today.
| Commodities and Trade |
SNYDER OIL PARTNERS LP <SOI> SETS QUARTERLY
| Qtly div 30 cts vs 30 cts prior
Pay April 30
Record April 15
| Commodities and Trade |
MEDAR <MDXR> ACQUIRES OWENS-ILLINOIS <OI> UNIT
| Medar Inc said it
acquired Automatic Inspection Devices Inc, a subsidiary of
Owens-Illinois Inc, Toledo, Ohio, through an exchange of stock
for 80 pct of the company.
Automatic Designs and manufactures a line of machine vision
systems for the packaging, pharmaceutical, electronics and
consumer goods i... | Financial Reports |
RAYTECH CORP <RAY> 4TH QTR DEC 28 NET
| Shr profit 78 cts vs loss 1.05 dlrs
Net profit 2,336,000 vs loss 3,002,000
Revs 26.0 mln vs 26.7 mln
Year
Shr profit 1.59 dlrs vs loss 6.35 dlrs
Net profit 4,688,000 vs loss 18.2 mln
Revs 113.5 mln vs 112.4 mln
NOTE: 1986 4th qtr and yr includes loss carryfoward of
534,000 ... | Financial Reports |
ALLIS-CHALMERS <AH> ESTIMATES PROCEEDS OF SALE
| Allis-Chalmers Corp said it
expects cash proceeds from the proposed sale of its solids
processing equipment and minerals systems businesses to exceed
90 mln dlrs, with no material gain or loss anticipated from the
planned sale.
Closing of the sale to Boliden AB of Sweden would be part
of the overall r... | Other |
ARGENTINE GRAIN SHIPPING SITUATION
| One grain vessel was awaiting berth
at Bahia Blanca, four at Buenos Aires and five at Rosario, on
March 31, National Grain Board figures show.
The situation at these ports was as follows, giving the
number of ships loading, awaiting berth and expected
respectively.
Bahia Blanca - 4, 1, 1
Bue... | Other |
IRVING TRUST <V> RAISES PRIME RATE
| Irving Trust Co said it is raising its
prime rate to 7-3/4 pct from 7-1/2, effective immediately.
It becomes the fourth U.S. bank to raise the rate,
following Citibank, Chase Manhattan and Manufacturers Hanover
Trust.
| Financial Reports |
HOG REPORT SHOWS MORE HOGS ON FARMS
| The USDA quarterly hogs and pig report
yesterday showed more hogs on U.S. farms compared to last year
as profitability resulting from low grain prices encouraged
producers to step up production, analysts said.
Most analysts seemed to agree with Chicago Mercantile
Exchange floor traders that the report w... | Financial Reports |
CONRAC <CAX> REJECTS MARK IV <IV> OFFER
| Conrac Corp said its board has
rejected MArk IV Industries Inc's tender offer for all Conract
shares at 25 dlrs each, and no Conract director of officer
plans to tender any shares.
The company said financial advisor <Goldman, Sachs and Co>
determined the price to be inadequate.
It said its boar... | Other |
TAFT <TFB> HAD NOT COMPLETED TV STATION SALE
| Taft Broadcasting Co said the
sale of its independent television stations to TVX Broadcast
Group, which had been set for yesterday, did not occur.
TVX and its investment bankers, Salomon Inc's <SB> Salomon
Brothers, advised Taft the closing would not be consumated as
scheduled, the company said.
... | Financial Reports |
THYSSEN SEES UP TO 20 PCT LOWER SALES IN 1986/87
| Thyssen AG <THYH.F> expects a fall of
between 15 and 20 pct in consolidated turnover in 1986/87,
chief executive Dieter Spethmann said.
He told journalists the exact decline would depend on
dollar developments. The Thyssen group did over 50 pct of its
business outside West Germany.
Spethmann ma... | Financial Reports |
DATAMAG INC <DMAG> 1ST QTR DEC 31 LOSS
| Net loss 92,623 vs profit 11,209
Sales 93,483 vs 189,388
Note: per share data not available, as company went public
in January, 1987.
| Financial Reports |
CYCLOPS <CYL> NAMES DIXONS OFFICIALS TO BOARD
| Cyclops corp said it has
reconstituted its board to include three <Dixons Group PLC>
executives following Dixons' acquisition of 83 pct of Cyclops'
4,061,000 shares in a 95 dlr per share tender offer.
Cyclops said remaining on the six-member board are chairman
and chief executive W.H. Knoell, preside... | Financial Reports |
SOUTHMARK <SM> COMPLETES ACQUISITION
| Southmark Corp said it has completed the
purchase of Georgia International Life Insurance Co from
Capital Holding Corp <CPH> for cash and Southmark securities
worth over 85 mln dlrs.
| Market and Economy |
VALHI <VHI> REPORTS PRO-FORMA EARNINGS
| Valhi Inc, formed by the March 10 merger
of Amalgamated Sugar Co into LLC Corp, said it had unaudited
pro-forma earnings of 72 mln dlrs, or 61 cts a share, for the
six months ended December 31.
Valhi said these results were prepared as if the merger had
occurred July 1, 1986, and on substantially the sa... | Financial Reports |
ROYAL BANK SEES IMPROVED RESULTS
| <Royal Bank of Canada>, in reporting a
19 pct drop in first quarter earnings, said it expects to
report improved results in future earnings periods.
"Healthy consumer credit growth, record fee-based income,
highly profitable securities and foreign exchange trading, and
a solid capital position...comb... | Corporate News |
ACME-CLEVELAND CORP <AMT> SETS QUARTERLY
| Qtly div 10 cts vs 10 cts prior
Pay May 13
Record April 29
| Financial Reports |
U.S. OIL/LARD STATISTICS
| U.S. Census Bureau figures released
here showed factory and warehouse stocks on Feb 28 included the
following, with comparisons, in mln lbs --
02/28/87 01/31/87 02/28/86
Soybean Oils --
Crude 1,663.3-x 1,542.6 893.7
Refined 300.5-x 294.7-r 287.4
Total 1,963.8-x 1,... | Corporate News |
VMS STRATEGIC LAND TRUST <VLANS> SETS PAYOUT
| VMS Strategic Land Trust declared an
initial dividend of 30 cts a share payable May 15 to
shareholders of record April 20.
The dividend represents a 12 pct annual return based on the
company's original offering price in December of 10 dlrs a
share. The return is guaranteed through December 31, 1988, the... | Commodities and Trade |
CHEMICAL <CHL> RAISES PRIME RATE TO 7-3/4 PCT
| Chemical Bank, the main bank subsidiary
of Chemical New York Corp, said it is raising its prime lending
rate to 7-3/4 pct from 7-1/2 pct, effective immediately.
| Market and Economy |
<COMINCO LTD> LOWERS PRICE OF LEAD METAL
| Cominco Ltd said its
Cominco metals division lowered the price for lead metal sold
in Canada by 1/2 Canadian cts per pound to 34 Canadian cts per
pound.
| Corporate News |
MIDWEST CASH GRAIN - SLOW COUNTRY MOVEMENT
| Cash grain dealers reported slow country
movement of corn and soybeans across the Midwest, with even
corn sales from PIK-and-roll activity seen earlier this week
drying up.
Some dealers said the USDA may further adjust the posted
county price at the Gulf to take into account high barge
freight rates a... | Other |
FED BUYING ONE BILLION DLRS OF BILLS FOR CUSTOMER
| ACCOUNT, FED SAYS
FED BUYING ONE BILLION DLRS OF BILLS FOR CUSTOMER
ACCOUNT, FED SAYS
| Financial Reports |
MIDWEST CASH GRAIN - SLOW COUNTRY MOVEMENT
| Cash grain dealers reported slow country
movement of corn and soybeans across the Midwest, with even
corn sales from PIK-and-roll activity seen earlier this week
drying up.
Some dealers said the USDA may further adjust the posted
county price at the Gulf to take into account high barge
freight rates a... | Commodities and Trade |
MARINE MIDLAND <MMB> RAISES PRIME RATE
| Marine Midland Banks Inc said it is
raising its prime lending rate to 7-3/4 pct from 7-1/2 pct,
effective immediately.
| Financial Reports |
FHLBB CHANGES SHORT-TERM DISCOUNT NOTE RATES
| The Federal Home Loan Bank Board
adjusted the rates on its short-term discount notes as follows:
MATURITY NEW RATE OLD RATE MATURITY
30-69 days 5.00 pct 5.00 pct 30-124 days
70-88 days 5.92 pct 5.90 pct 125-150 days
89-123 days 5.00 pct 5.00 pct 151-173 days
124-150 days 5.93 p... | Financial Reports |
TURKISH CENTRAL BANK SETS LIRA/DOLLAR, DM RATES
| The Turkish Central Bank set a
lira/dollar rate for April 2 of 780.00/783.90 to the dollar,
down from the previous 777.00/780.89. The Bank also set a
lira/mark rate of 429.15/431.30 to the mark, up from the
previous 430.50/432.65.
| Financial Reports |
ASARCO LOWERS COPPER PRICE 1.50 CTS TO 67 CTS
| Asarco Inc said it is decreasing its
domestic delivered copper cathode price by 1.50 cents to 67.0
cents a lb, effective immediately.
| Corporate News |
FED BUYS ONE BILLION DLRS OF BILLS FOR CUSTOMER
| The Federal Reserve is buying one
billion dlrs of Treasury bills for customer account for
delivery today, a spokesman for the bank said.
Fed funds were trading at 6-3/16 pct at the time of the
purchase, which came several hours before the Fed normally
transacts business for its customers.
Economis... | Financial Reports |
GEORGIA-PACIFIC TO HAVE 60 MLN DLR PRETAX GAIN FROM SALE
| OF GEORGIA GULF STAKE
GEORGIA-PACIFIC TO HAVE 60 MLN DLR PRETAX GAIN FROM SALE
OF GEORGIA GULF STAKE
| Commodities and Trade |
KENYAN MINISTER FORECASTS ECONOMIC EXPANSION
| Kenya's economy will continue to expand
this year and the government will do more to encourage
investment by foreign firms and the local private sector,
Planning Minister Robert Ouko said.
He told a news conference that the government would soon
create a special bureau to expedite processing of investme... | Financial Reports |
U.S. VEGETABLE OIL PRODUCTS OUTPUT IN FEBRUARY
| U.S. factories used 1,053.0 mln lbs
of various vegetable oils in the production of edible products
during February, the Census Bureau reported.
That compared with a revised usage of 1,075.0 mln lbs in
January and 1,084.2 mln lbs in February, 1986.
February production of selected products included th... | Financial Reports |
BEECHAM GROUP <BHAMY> TO SELL UNIT
| Privately-held investment firm
<Dubin Clark and Co> said it has signed a definitive agreement
for an investment group it heads to acquire Roberts
Consolidated Industries from <Beecham Group PLC> for 45 mln
dlrs.
Roberts makes and distributes accessories, adhesives and
tools used in carpet instal... | Market and Economy |
U.S. TALLOW PRODUCTION AND STOCKS
| U.S. factory production of inedible
tallow and grease amounted to 421.5 mln lbs in February, vs a
revised 471.5 mln lbs the previous month and 419.2 mln lbs in
the year-ago period, the Census Bureau said.
The bureau placed February factory production of edible
tallow at 96.9 mln lbs, vs a revised 111.4 ... | Market and Economy |
COMINCO LTD CUTS LEAD PRICE IN CANADA
| Cominco Ltd said its
Cominco metals division lowered the price for lead metal sold
in Canada by 1/2 Canadian cts per pound to 34 Canadian cts per
pound.
| Corporate News |
MERCANTILE BANK N.A. <MTRC> RAISES PRIME RATE
| Mercantile Bancorp said its Mercantile
Bank N.A. raised its prime rate to 7-3/4 pct from 7-1/2 pct,
effective immediately.
| Other |
U.S. LARD CONSUMPTION IN FEBRUARY
| U.S. factory usage of lard in the
production of both edible and inedible products during February
totaled 22.0 mln lbs, vs a revised 20.2 mln lbs in January,
according to Census Bureau figures.
In the year-earlier period, usage, which includes
hydrogenated vegetable and animal fats and other oils in
p... | Commodities and Trade |
AUTOSPA <LUBE> TO BUY CONTROL OF CARDIS <CDS>
| Autospa Corp said it has signed an
agreement to purchase 2,400,000 shares of eight pct convertible
preferred stock of Cardis Corp -- representing voting control
-- for 15 mln dlrs.
The company said the preferred purchase will be financed by
an investment group led by Autospa.
It said it will also ... | Corporate News |
FRENCH FARMERS PLAN TO CUT MAIZE PLANTINGS
| French farmers are planning to cut their
maize sowings by between 100,000 and 150,000 hectares this year
from the 1.87 mln ha harvested in 1986, the French Maize
Producers' Association, AGPM, said.
It said its first estimate of planting intentions indicated
cuts of 15 to 20 pct in plantings in the north... | Commodities and Trade |
WEATHERFORD INTERNATIONAL INC <WII> 4TH QTR LOSS
| Shr loss 40 cts vs loss 1.30 dlrs
Net loss 3,619,000 vs loss 11.3 mln
Revs 24.1 mln vs 34.1 mln
Year
Shr loss 4.36 dlrs vs loss 2.09 dlrs
Net loss 38.7 mln vs loss 16.8 mln
Revs 104.6 mln vs 133.9 mln
| Financial Reports |
PROGRESSIVE SAVINGS <PRSL> 4TH QTR LOSS
| Shr loss 1.05 dlrs vs profit three cts
Net loss 4,477,000 vs profit 107,818
Revs 10.9 mln vs 13.8 mln
Year
Shr loss 79 cts vs profit three cts
Net loss 3,364,058 vs profit 123,880
Revs 50.9 mln vs 57.2 mln
Note: Full name Progressive Savings and Loan Association.
Curren... | Financial Reports |
ALLIED SUPERMARKETS <ASU> FILES PROPOSED MERGER
| Allied Supermarkets Inc said it filed a
registration statement with the Securities and Exchange
Commission for a proposed merger with <The Vons Companies>, a
supermarket, combination store operator.
Allied said the statement covers 140 mln dlrs of senior
subordinated discount debentures and 100 mln d... | Financial Reports |
BELGIAN SAYS EC WOULD REACT TO TEXTILE BILL
| Belgian Foreign Trade Minister Herman
De Croo said if Congress passed legislation curbing world
textile imports the only way the European Community (EC) could
react was to retaliate.
De Croo said at a news conference "if you limit textile
imports, you will re-orient textiles to Europe."
And that h... | Corporate News |
CERTIFICATED COTTON STOCKS
| Certificated cotton stocks deliverable
on the New York Cotton Exchange No 2 cotton futures contract as
of March 31 were reported at 36,659 bales, unchanged from the
previous day's figure. There were no bales awaiting review and
985 bales awaiting decertification.
| Market and Economy |
FINLAND REVISES CURRENCY BASKET
| The Bank of Finland said it has revised
the weightings in its currency basket with effect from today.
Weightings match the respective country's share in Finland's
foreign trade.
Weights in percentages compared with former weights.
Dollar 9.0 (8.8)
Sterling 14.3 (13.8)
Swedish crown 20.... | Market and Economy |
JOHN O. BUTLER CO <BUTC> 2ND QTR FEB 28 NET
| Shr 19 cts vs 18 cts
Net 1,230,041 vs 1,153,280
Sales 10,909,729 vs 9,675,355
Six mths
Shr 31 cts vs 29 cts
Net 2,019,930 vs 1,857,357
Sales 21.0 mln vs 17.8 mln
| Commodities and Trade |
<GUILLEVIN INTERNATIONAL INC> YEAR JAN 31 NET
| Shr 51 cts vs 36 cts
Net 2,543,285 vs 1,686,559
Sales 153.2 mln vs 120.7 mln
| Market and Economy |
COSMO COMMUNICATIONS CORP <CSMO> YEAR LOSS
| Shr loss one ct vs loss 2.16 dlrs
Net loss 30,000 vs loss 12.4 mln
Revs 27.4 mln vs 38.3 mln
| Corporate News |
LINEAR <LNER> SEES LOWER COMPARABLE 4TH QTR NET
| Linear Films Inc said its fourth
quarter earnings for the period ended March 31, will be lower
than the 1,235,000 dlrs or 19 cts a share reported in the
year-ago quarter on sales of 11.8 mln dlrs.
The company attributed the lower earnings to narrowing
profit margins on stretch film.
Linear also sa... | Financial Reports |
KAY CORP <KAY> 4TH QTR NET
| Oper shr 25 cts vs 1.21 dlrs
Oper net 1,366,000 vs 6,287,000
Revs 251.3 mln vs 107.1 mln
Year
Oper shr 1.10 dlrs vs 1.06 dlrs
Oper net 5,552,000 vs 4,982,000
Revs 827.5 mln vs 434.4 mln
NOTE: Oper net excludes results of Kay Jewelers Inc, a
former subsidiary. On Dec 31, 198... | Corporate News |
STAODYNAMICS INC <SDYN> 4TH QTR NET
| Shr three cts vs six cts
Net 54,965 vs 106,147
Revs 2,124,983 vs 1,915,928
Avg shrs 2,206,017 vs 1,878,438
Year
Shr 14 cts vs eight cts
Net 302,388 vs 157,690
Revs 7,952,360 vs 7,495,936
Avg shrs 2,139,991 vs 2,051,178
| Corporate News |
1ST SOURCE <SRCE> COMPLETES MERGER
| 1st Source Bank said it
completed its merger with <Community State Bank> of North
Liberty, Ind.
The bank said Community State Bank's shareholders approved
the merger at a meeting last Saturday, while Monday the
directors of 1st Source also approved the move.
The merger would add Community Bank'... | Corporate News |
FIRST NATIONAL BANK CORP TO BUY BRANCH
| First National Bank Corp,
the newly formed parent of First National Bank in Mount
Clemens, Mich., and Bankers Fund Life Insurance Co, said it
reached an agreement to buy a branch in Clinton Township from a
nonrelated financial institution.
It said the acquisition brings to 10 the number of bank
branch... | Financial Reports |
GEORGIA PACIFIC <GP> SEES GAIN FROM SALE
| Georgia-Pacific Corp said its second
quarter results will include a gain of 60 mln dlrs pre-tax, or
34 cts per share after-tax, from the sale of its interest in
<Georgia Gulf Corp>.
The company said it is selling warrants for about 1.8 mln
shares of Georgia Gulf common stock to Goldman Sachs and Co i... | Financial Reports |
U.S., ARGENTINA SETTLE SOYPRODUCT CASE - YEUTTER
| U.S. Trade Representative Clayton
Yeutter said the United States and Argentina have settled a
case brought by the U.S. soybean crushing industry alleging
unfair subsidies to Argentina's crushing industry.
Speaking to an Agribusiness Education forum here late
yesterday, Yeutter said the case was resolve... | Other |
CONTINENTAL ILLINOIS <CIL> RAISES PRIME RATE
| Continental Illinois Corp said it has
raised its prime rate to 7-3/4 from 7-1/2.
| Financial Reports |
THOUSAND TRAILS INC <TRLS> YEAR LOSS
| Shr loss 4.87 dlrs vs profit 16 cts
Net loss 50,422,000 vs profit 1,788,000
Revs 113.4 mln vs 173.7 mln
Note: Current year figures include 33.3 mln dlr after-tax
writedown of land and improvements, a 5.6 mln dlr increase in
allowance for doubtful accounts and after-tax gain of three mln
dlrs o... | Financial Reports |
VISTA ORGANIZATION LTD <VISA> YEAR NET
| Shr profit one ct vs loss nine cts
Net profit 177,061 vs loss 1,364,878
Revs 5,913,334 vs 487,121
Avg shrs 18.6 mln vs 15.9 mln
| Financial Reports |
TCA CABLE TV INC <TCAT> SETS QUARTERLY
| Qtly div six cts vs six cts prior
Pay April 23
Record April Nine
| Financial Reports |
MONSANTO <MTC> INVESTS IN BIOTECHNOLOGY <BIOD>
| Biotechnology Development Corp
said its Medicontrol Corp subsidiary received a 500,000 dlr
investment by Monsanto Co's G.D. Searle and Co subsidiary.
The company said the investment was made pursuant to an
option Searle held, and increases Searle's stake in Medicontrol
to 19.8 pct with a total investmen... | Financial Reports |
CHASE <CMB> BUYS BORG-WARNER <BOR> UNIT
| Chase Manhattan Corp said Chase
Trans-Info, a subsidiary of its Chase Manhattan Bank N.A. unit,
has bought Borg-Warner Corp's Traffic Services business,
including an Illinois processing center, for an undisclosed
sum.
Borg Warner Traffic Services provides freight bill
pre-audit, payment and informatio... | Corporate News |
MOUNTAIN STATES <MTSR> ADDES TWO PROPERTIES
| Mountain States Resources Corp
said it acquired two properties to its strategic minerals
holdings.
The acquisitions bring to its land position a total of
5,100 acres of titanium, zirconium and rare earth resources,
the company said.
Both properties, located in southern Utah, consist of
approxima... | Financial Reports |
OHIO MATTRESS <OMT> MAY HAVE LOWER 1ST QTR NET
| Ohio Mattress Co said its first
quarter, ending February 28, profits may be below the 2.4 mln
dlrs, or 15 cts a share, earned in the first quarter of fiscal
1986.
The company said any decline would be due to expenses
related to the acquisitions in the middle of the current
quarter of seven licensees o... | Financial Reports |
PANTASOTE INC <PNT> 4TH QTR LOSS
| Oper shr loss four cts vs loss 33 cts
Oper net loss 154,000 vs loss 1,301,000
Sales 30.0 mln vs 27.0 mln
Year
Oper shr profit 60 cts vs loss 16 cts
Oper net profit 2,364,000 vs loss 608,000
Sales 113.5 mln vs 132.8 mln
NOTE: Net excludes extraordinary charges from provision f... | Other |
REPUBLIC SAVINGS AND LOAN <RSLA> SETS DIVIDEND
| Qtly div 30 cts vs 30 cts prior
Pay April 27
Record April 13
NOTE: Company's full name is Republic Savings and Loan
Association of Wisconsin.
| Financial Reports |
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