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WORLD MARKET PRICE FOR UPLAND COTTON - USDA | The U.S. Agriculture Department
announced the prevailing world market price, adjusted to U.S.
quality and location, for Strict Low Middling, 1-1/16 inch
upland cotton at 52.69 cts per lb, to be in effect through
midnight March 5.
The adjusted world price is at average U.S. producing
locations (near Lubbock, Texas) ... |
SUGAR QUOTA IMPORTS DETAILED -- USDA | The U.S. Agriculture Department said
cumulative sugar imports from individual countries during the
1987 quota year, which began January 1, 1987 and ends December
31, 1987 were as follows, with quota allocations for the quota
year in short tons, raw value --
CUMULATIVE QUOTA 1987
IMPORTS ... |
GRAIN SHIPS LOADING AT PORTLAND | There were seven grain ships loading and
six ships were waiting to load at Portland, according to the
Portland Merchants Exchange.
Reuter
|
IRAN ANNOUNCES END OF MAJOR OFFENSIVE IN GULF WAR | Iran announced tonight that its major
offensive against Iraq in the Gulf war had ended after dealing
savage blows against the Baghdad government.
The Iranian news agency IRNA, in a report received in
London, said the operation code-named Karbala-5 launched into
Iraq on January 9 was now over.
It quoted a joint ... |
MERIDIAN BANCORP INC <MRDN> SETS REGULAR PAYOUT | Qtly div 25 cts vs 25 cts prior
Pay April one
Record March 15
Reuter
|
U.S. BANK DISCOUNT BORROWINGS 310 MLN DLRS | U.S. bank discount window borrowings
less extended credits averaged 310 mln dlrs in the week to
Wednesday February 25, the Federal Reserve said.
The Fed said that overall borrowings in the week fell 131
mln dlrs to 614 mln dlrs, with extended credits up 10 mln dlrs
at 304 mln dlrs. The week was the second half of a... |
AMERICAN EXPRESS <AXP> SEEN IN POSSIBLE SPINNOFF | American Express Co remained silent on
market rumors it would spinoff all or part of its Shearson
Lehman Brothers Inc, but some analysts said the company may be
considering such a move because it is unhappy with the market
value of its stock.
American Express stock got a lift from the rumor, as the
market calculate... |
U.S. M-1 MONEY SUPPLY ROSE 2.1 BILLION DLRS | U.S. M-1 money supply rose 2.1 billion
dlrs to a seasonally adjusted 736.7 billion dlrs in the
February 16 week, the Federal Reserve said.
The previous week's M-1 level was revised to 734.6 billion
dlrs from 734.2 billion dlrs, while the four-week moving
average of M-1 rose to 735.0 billion dlrs from 733.5 billion.... |
GENERAL BINDING <GBND> IN MARKETING AGREEMENT | General Binding Corp said it reached
a marketing agreement with Varitronic Systems Inc, a
manufacturer and marketer of electronic lettering systems.
Under terms of the agreement, General Binding will carry
Varitronics' Merlin Express Presentation Lettering System, a
portable, battery-operated lettering system which... |
LIBERTY ALL-STAR <USA> SETS INITIAL PAYOUT | Liberty All-Star Equity Fund said
it declared an initial dividend of five cts per share, payable
April two to shareholders of record March 20.
It said the dividend includes a quarterly dividend of three
cts a share and a special payout of two cts a share, which
covers the period from November three, 1986, when the ... |
COCA COLA <KO> UNIT AND WORLD FILM IN VENTURE | Coca-Cola Co's Entertainment Business
Sector Inc unit said it formed a joint venture with an
affiliate of World Film Services to acquire, produce and
distribute television programming around the world.
World Film Services was formed by chairman John Heyman in
1963 to produce films.
Reuter
|
FORD MOTOR CREDIT <F> TO REDEEM DEBENTURES | Ford Motor Co said its Ford Motor
Credit Co on April One will redeem 4.0 mln dlrs of its 8.70 pct
debentures due April 1, 1999.
It said the debentures are redeemable at a price of 100 pct
of the principal. Because April 1, 1987 is an interest payment
date on the debentures, no accrued interest will be payable on
th... |
STERLING SOFTWARE <SSW> NOTE HOLDERS OK BUY | Sterling Software Inc said it received
consent of a majority of the holders of its eight pct
convertible sernior subordinated debentures required to
purchase shares of its common.
The company said it may now buy its stock at its discretion
depending on market conditions.
Reuter
|
<SCHULT HOMES CORP> MAKES INITIAL STOCK OFFER | Schult Homes Corp announced an initial
public offering of 833,334 units at five dlrs per unit, said
Janney Montgomery Scott Inc and Woolcott and Co, managing
underwriters of the offering.
They said each unit consists of one common share and one
warrant to buy one-half share of common.
The warrant will entitle h... |
FLUOR <FLR> UNIT GETS CONSTRUCTION CONTRACT | Fluor Corp said its Fluor Daniel
unit received a contract from Union Carbide Corp <UK> covering
design, procurement and construction of a 108 megawatt combined
cycle cogeneration facility in Seadrift, Texas.
The value of the contract was not disclosed.
Reuter
|
SUFFIELD FINANCIAL CORP <SFCP> SELLS STOCK | Suffield Financial Corp said
Jon Googel and Benjamin Sisti of Colonial Realty, West
Hartford, Conn., purchased 175,900 shares of its stock for
3,416,624.
The company said the purchase equals 5.2 pct of its
outstanding shares.
Reuter
|
<HIGH POINT FINANCIAL CORP> SETS OFFERING | <High Point Financial Corp>
said it filed a registration statement with the Securities and
Exchange Commission covering six mln dlrs principal amount of
redeemable subordinated debentures due March one and
cancellable mandatory stock purchase contracts requiring the
purchase of 6.66 mln dlrs in common no later than Mar... |
CHINESE PORK OUTPUT SEEN LOWER -- USDA | High feed prices will cause the
Chinese to reduce hog herd growth and pork production this
year, the U.S. Agriculture Department said.
In its World Production and Trade Report, the department
said hog numbers at the start of 1987 were estimated at 331.6
mln head, up slightly from 1986, and 10 mln head above earlier... |
LANDMARK BANCSHARES <LBC> TO BE LISTED ON NYSE | Landmark Bancshares Corp said it
expects its stock to begin trading on March 26 on the New York
Stock Exchange.
The company, whose stock has traded on the American Stock
Exchange since November 1984, said it will retain its symbol,
LBC, when trading begins on the Big Board.
Reuter
|
IVACO SEES MINIMAL FIRST QUARTER EARNINGS | (Ivaco Inc) said price pressure on steel
products, particularly in the U.S., and the recent increase in
the value of the Canadian dollar is expected to result in
"minimal" first quarter earnings.
It said subsequent quarters should show substantial
improvement from first quarter levels but 1987 earnings will
not rea... |
U.S. GRAIN CARLOADINGS FALL IN WEEK | U.S. grain carloadings totaled 26,108
cars in the week ended February 21, down 2.2 pct from the
previous week but 22.8 pct above the corresponding week a year
ago, the Association of American Railroads reported.
Grain mill product loadings in the week totalled 11,382
cars, down 1.8 pct from the previous week but 7.... |
HONG KONG FIRM UPS WRATHER<WCO> STAKE TO 11 PCT | Industrial Equity (Pacific) Ltd, a
Hong Kong investment firm, said it raised its stake in Wrather
Corp to 816,000 shares, or 11.3 pct of the total outstanding
common stock, from 453,300 shares, or 6.3 pct.
In a filing with the Securities and Exchange Commission,
Industrial Equity, which is principally owned by Brie... |
COLECO INDUSTRIES INC <CLO> 4TH QTR | Shr loss 6.48 DLS VS PROFIT 23 CTS
Net loss 110.6 mln vs profit 4.1 mln
Revs 74.0 mln vs 152.0 mln
Year
Shr loss 6.52 dlrs vs profit 3.87 dlrs
net loss 111.2 mln vs profit 64.2 mln
Revs 501.0 mln vs 776.0 mln
Reuter
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DIAMOND SHAMROCK (DIA) CUTS CRUDE PRICES | Diamond Shamrock Corp said that
effective today it had cut its contract prices for crude oil by
1.50 dlrs a barrel.
The reduction brings its posted price for West Texas
Intermediate to 16.00 dlrs a barrel, the copany said.
"The price reduction today was made in the light of falling
oil product prices and a weak... |
LIEBERT CORP <LIEB> APPROVES MERGER | Liebert Corp said its shareholders
approved the merger of a wholly-owned subsidiary of Emerson
Electric Co <EMR>.
Under the terms of the merger, each Liebert shareholder
will receive .3322 shares of Emerson stock for each Liebert
share.
Reuter
|
NORTHERN TELECOM PROPOSES TWO-FOR-ONE STOCK SPLIT
| |
COLECO INDUSTRIES <CLC> SEES PROFIT IN 1987 | Coleco Industries Inc said
it expects to return to profitability in 1987.
Earlier, Coleco reported a net loss of 111.2 mln dlrs for
the year ended December 31 compared to a profit of 64.2 mln
dlrs in the year earlier.
In a prepared statement, the company said the dramatic
swing in operating results was due prim... |
OLIN CORP <OLM> TO ELECT NEW CEO IN APRIL | Olin Corp said its board will
elect in April John Johnstone Jr as its chief executive
officer.
The company said he will succeed John M Henske, who is also
chairman. It said Johnstone, 54, is now president and chief
operating officer.
Henske, 53, has served as CEO since 1978 and chairman since
1980. He will cont... |
GULF APPLIED TECHNOLOGIES <GATS> SELLS UNITS | Gulf Applied Technologies Inc said it
sold its subsidiaries engaged in pipeline and terminal
operations for 12.2 mln dlrs.
The company said the sale is subject to certain post
closing adjustments, which it did not explain.
Reuter
|
INVESTMENT GROUP RAISES ROBESON <RBSN> STAKE | A group of affiliated Miami-based
investment firms led by Fundamental Management Corp said it
raised its stake in Robeson Industries Corp to 238,000 shares,
or 14.6 pct of the total, from 205,000 or 12.8 pct.
In a filing with the Securities and Exchange Commission,
the group said it bought 32,800 Robeson common sha... |
GAO LIKELY TO SHOW CERTS MORE COSTLY THAN CASH | A study on grain certificates due out
shortly from the Government Accounting Office (GAO) could show
that certificates cost the government 10 to 15 pct more than
cash outlays, administration and industry sources said.
Analysis that the GAO has obtained from the Agriculture
Department and the Office of Management an... |
Venezuela seeks 'flexibility' from banks-azpurua | venezuela is seeking a 'constructive and
flexible' attitude from its creditor banks in current talks to
reschedule 21 billion dlrs in foreign debt, finance minister
manuel azpurua told a press conference.
He declined to comment on meetings this week in new york
between public finances director jorge marcano and ven... |
DAHLBERG INC <DAHL> 4TH QTR NET | Shr profit 10 cts vs loss seven cts
Net profit 286,870 vs loss 156,124
Revs 10.0 mln vs 7,577,207
Year
Shr profit five cts vs profit 42 cts
Net profit 160,109 vs profit 906,034
Revs 38.1 mln vs 31.2 mln
Avg shrs 2.9 mln vs 2.2 mln
NOTE: 1986 year includes 53 weeks.
Reuter
|
CITY NATIONAL CORP <CTYN> RAISES DIVIDEND | Shr 16 cts vs 13 cts
Pay April 15
Record March 31
Reuter
|
<PAGE PETROLEUM LTD> YEAR LOSS | Shr loss 1.98 dlrs vs loss 5.24 dlrs
Net loss 23.3 mln vs loss 44.8 mln
Revs 13.6 mln vs 29.6 mln
Note: 1986 net includes nine mln dlr extraordinary loss for
oil and gas writedowns and unrealized foreign exchange losses
vs yr-ago loss of 32.5 mln dlrs.
Reuter
|
THOMSON MCKINNON UNIT'S CMO OFFERING PRICED | Thomson McKinnon Mortgage Assets Corp, a
unit of Thomson McKinnon Inc, is offering 100 mln dlrs of
collateralized mortgage obligations in three tranches that
include floating rate and inverse floating rate CMOS.
The floating rate class amounts to 60 mln dlrs. It has an
average life of 7.11 years and matures 2018. T... |
IDB COMMUNICATIONS GROUP INC <IDBX> YEAR NET | Period ended December 31.
Shr 25 cts vs 20 cts
Net 801,000 vs 703,000
Revs 6,318,000 vs 3,926,000
Reuter
|
ARMOR ALL PRODUCTS CORP <ARMR> QUARTERLY DIV | Qtly div ten cts vs ten cts
Pay April 1
Record March 9
Reuter
|
OPEC MAY HAVE TO MEET TO FIRM PRICES - ANALYSTS | OPEC may be forced to meet before a
scheduled June session to readdress its production cutting
agreement if the organization wants to halt the current slide
in oil prices, oil industry analysts said.
"The movement to higher oil prices was never to be as easy
as OPEC thought. They may need an emergency meeting to so... |
CENERGY <CRG> REPORTS 4TH QTR NET PROFIT | Cenergy Corp reported fourth quarter net
income of 790,000 dlrs or seven cts per share on revenues of
7.7 mln dlrs.
For the year it reported a net loss of 6.5 mln dlrs or 70
cts per share as a result of writedowns in the book value of
its oil and gas properties in the first two quarters. Revenues
were 37 mln dlrs.
... |
NORTHERN TELECOM LTD <NT> DECLARES STOCK SPLIT | Two-for-one stock split
Pay May 12
Note: split is subject to approval of shareholders at April
23 annual meeting.
Company also said it will increase dividend on post-split
shares to six cts from five cts.
Reuter
|
TORCHMARK <TMK> AUTHORIZES STOCK REPURCHASE | Torchmark Corp said its board
authorized the purchase from time to time of a significant
portion of its 7-3/4 pct convertible subordinated debentures.
As of February 25, it said there were outstanding 150 mln dlrs
of the principal amount of debenures.
The company also said it plans to redeem the debentures on
June ... |
PAINEWEBBER GROUP <PWJ> TO REDEEM DEBENTURES | Painewebber Group Inc said it will
redeem all its outstanding 8-1/4 pct convertible subordinated
debentures due 2008.
It said it will redeem all the debentures for 1,060.50 dlrs
plus accrued interest to the redemption date of March 30. The
notes can be converted into common stock at a price of 42.35
dlrs per share.... |
R.P. SCHERER <SCHC> SETS PREFERRED STOCK OFFER | R.P. Scherer Inc said it registered
with the Securities and Exchange Commission a proposed public
offering of 1.2 mln shares of convertible exchangeable
preferred stock at 25 dlrs a share.
In addition, the company said it is offering 200,000
preferred shares to Richard Manoogian, a Scherer director at 25
dlrs a sha... |
PARLUX FRAGRANCES COMPLETES INITIAL OFFERING | <Parlux Fragrances Inc> said it
completed the offering of 420,000 unis at 10 dlrs each through
underwriters R.C. Stamm and Co and Rosenkrantz Lyon and Ross
Inc.
Each unit consists of two shares of common stock and one
redeemable warrant, which entitles the holder to buy an
additional common share for six dlrs betwe... |
TECHAMERICA GROUP INC <TCH> 4TH QTR LOSS | Shr loss six cts vs not available
Net loss 562,231 vs profit 10,253
Revs 8,871,874 vs 9,549,308
Year
Shr loss 60 cts vs loss nine cts
Net loss 5,058,145 vs loss 766,185
Revs 34.3 mln vs 35.5 mln
Reuter
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WILFRED AMERICAN EDUCATIONAL <WAE> REGULAR DIV | Qtly div three cts vs three cts prior
Pay April three
Record March 13
Reuter
|
DREXEL OFFICIAL HAS STAKE IN EPSILON DATA <EPSI> | A senior official of Drexel Burnham
Lambert Inc and his father told the Securities and Exchange
Commission they have acquired 258,591 shares of Epsilon Data
Management Inc, or 9.4 pct of the total outstanding.
Kenneth Thomas, senior vice president-investments at
Drexel's Los Angeles office, and his father, retired ... |
PROPOSED OFFERINGS RECENTLY FILED WITH THE SEC | The following proposed securities
offerings were filed recently with the Securities and Exchange
Commission:
Bio-Technology General Corp <BTGC> - Offering of 25 mln
dlrs of convertible senior subordinated notes due March 1997
through Drexel Burnham Lambert Inc.
Reuter
|
VARIAN <VAR>, SIEMENS FORM JOINT VENTURE | Varian Associates Inc and
<Siemens A.G.> said they signed a letter of intent to form and
jointly operate a nuclear magnetic resonance imaging
spectroscopy business in Fremont, Calif.
The systems are smaller than magnetic resonance imaging
equipment currently used in clinical examinations, the
companies said.
Th... |
DU PONT <DD> WINS SUIT AGAINST PHILLIPS <P> | Du Pont Co said the U.S.
District Court for Delaware ruled that Phillips Petroleum Co
had infringed on its patent covering certain melt-processable
ethylene copolymer resins and polyethylene pipe systems.
It also said the court ruled that Phillips infringed on
various claims of its patent and enjoined Phillips from... |
<NOVA> WINS GOVERNMENT OKAY FOR HUSKY <HYO> DEAL | Nova, the Canadian company that
owns 56 pct of Husky Oil Ltd, said it received government
approval for a transaction under which <Union Faith Canada
Holding Ltd> would buy a 43 pct stake in Husky.
Nova said the Minister of Regional and Industrial
Expansion, Michel Cote, ruled that Union Faith's purchase of
the Husk... |
PRESIDENTIAL AIRWAYS <PAIR> PACT APPROVED | Presidential Airways Inc said its
joint marketing and services agreement with Texas Air Corp's
<TXN> Continental Airlines unit was approved by the U.S.
Department of Justice.
According to the agreement, Presidential Airways will
operate scheduled service under the name "Continental Express."
The company, however, w... |
ARMY TO RENEGOTIATE ITT <ITT> RADIO CONTRACT | The Army said it will renegotiate a
400 mln dlr contract with ITT Corp for jam-proof field radios
after recent tests indicated the radios will work properly.
Full production of 44,600 of the Single Channel Ground and
Airborne Radio System (SINCGARS) sets has been delayed since
the contract was let in 1983. The radi... |
POTOMAC ELECTRIC POWER CO <POM> JANUARY NET | Oper shr 27 cts vs 29 cts
Oper net 13.5 mln vs 14.6 mln
Revs 104.6 mln vs 110.3 mln
12 mths
Oper shr 4.10 dlrs vs 3.66 dlrs
Oper net 205 mln vs 186.8 mln
Revs 1.4 billion vs 1.3 billion
NOTE: 1986 12 mths oper net excludes extraordinary gain of
21.7 mln dlrs or 46 cts per share from sale of ... |
TORCHMARK <TMK> SELLS SINKING FUND DEBENTURES | Torchmark Corp is raising 200 mln dlrs
through an offering of sinking fund debentures due 2017
yielding 8.65 pct, said lead manager First Boston Corp.
The debentures have an 8-5/8 pct coupon and were priced at
99.73 to yield 100 basis points over the off-the-run 9-1/4 pct
Treasury bonds of 2016.
Non-refundable ... |
SUFFIELD FINANCIAL <SSBK> GETS FED APPROVAL | Suffield Financial Corp said the
Federal Reserve Board approved its application to acquire
Coastal Bancorp <CSBK>, Portland, Me.
Suffield said it still needs the approval of the
superintendent of Maine's banking department.
Reuter
|
AFG INDUSTRIES INC <AFG> QUARTERLY DIVIDEND | Qtly div four cts vs four cts
Pay April 3
Record March 23
Reuter
|
<GSW INC> YEAR NET | Oper shr 2.16 dlrs vs 2.07 dlrs
Oper net 8,037,000 vs 7,710,000
Revs 136.4 mln vs 133.3 mln
Note: 1986 net excludes extraordinary gain of 13 mln dlrs
or 3.50 dlrs shr from sale of <Camco Inc> shares vs yr-ago loss
of 4.3 mln dlrs or 1.14 dlrs shr.
Reuter
|
SANTA ANITA REALTY <SAR> QUARTERLY DIVIDEND | Qtly div 51 cts vs 51 cts
Pay April 9
Record March 25
(Santa Anita Realty Enterprises Inc)
Reuter
|
LIQUID AIR CORP <LANA> QUARTERLY DIVIDEND | Qtly div 40 cts vs 40 cts
Pay March 31
Record March 16
Reuter
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(MARSHALL STEEL LTD) YEAR NET | Oper shr five cts vs 36 cts
Oper net 508,000 vs 3,450,000
Revs 296.7 mln vs 298.0 mln
Note: former name Marshall Drummond McCall Inc.
Results include extraordinary gains of 952,000 dlrs or 11
cts per share in 1986 and 2,569,000 dlrs or 29 cts in 1985 from
income tax reduction.
Reuter
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MARSHALL STEEL DETAILS GAIN FROM UNIT SALE | (Marshall Steel Ltd), formerly Marshall
Drummond McCall Inc, said it will report a 17 mln dlr net gain
before taxes this year from the sale of its Drummond McCall
division, which was sold effective January one.
Reuter
|
MAYFAIR INDUSTRIES INC <MAYF> 4TH QTR NET | Oper shr 21 cts vs 18 cts
Oper net 659,000 vs 523,000
Revs 7,866,000 vs 5,503,000
Avg shrs 3,141,217 vs 2,925,294
12 mths
Oper shr 70 cts vs 46 cts
Oper net 2,075,000 vs 1,358,000
Revs 25.9 mln vs 19.3 mln
Avg shrs 2,980,247 vs 2,925,294
Note: Excludes tax gain of 295,000 dlrs for qt... |
(CORRECTED) - BANPONCE <BDEP> PLACES NOTES | BanPonce Corp said it privately placed
30 mln dlrs of its 8.25 pct senior notes due 1992 through
Lincoln National Investment Management Co, New York Life
Insurance Co and Dillon Read and Co Inc.
It said proceeds will be used to increase working capital,
for general corporate purposes, and for possible future
acquis... |
U.S. TREASURY SAYS IT WILL PARTICIPATE WITH OTHERS IN 500 MLN DLR BRIDGE LOAN TO ARGENTINA
| |
U.S. REGULATOR CLOSES BANKS IN TEXAS, LOUISIANA | The Federal Deposit Insurance Corp
(FDIC) said three troubled banks in Texas and Louisiana were
merged with healthy financial institutions.
The FDIC said it subsidized the merger of Central Bank and
Trust Co, Glenmora, La., with the healthy Peoples Bank and
Trust Co, Natchitoches, La., after state regulators notifi... |
OLIN <OLN> NAMES SUCCESSOR FOR CHIEF EXECUTIVE | Olin Corp said John W. Johnstone
Jr, 54, president and chief operating officer, will succeed
John M. Henske as chief executive officer on April 30.
Henske, 63, will continue as chairman until he retires in
June 1988, Olin said.
Reuter
|
DAEWOO MOTOR TO BOOST IMPORTS OF U.S. GOODS | Daewoo Motor Corp, the Korea-based
joint venture between Daewoo Group and General Motors Corp
<GM>, said it will boost its 1987 imports of U.S. goods to 200
mln dlrs from 104 mln dlrs in 1986.
The company said U.S. imports will account for about 35 pct
of its total planned imports of 565 mln dlrs in 1987. Last
year... |
BANKS EXPRESS GRAVE CONCERN ON BRAZIL DEBT MOVES | Brazil's 14-bank advisory committee
expressed "grave concern" to chief debt negotiator Antonio
Padua de Seixas over the country's suspension of interest
payments, according to a telex from committee chairman Citibank
to creditor banks worldwide.
Bankers said the diplomatic phrase belied the deep anger
and frustrati... |
LNG IMPORTS FROM ALGERIA UNLIKELY IN 1987 | Liquefied natural gas imports from
Algeria are unlikely to happen in 1987 even though its
economically feasible, U.S. industry analysts sources said.
Youcef Yousfi, director-general of Sonatrach, the Algerian
state petroleum agency, indicated in a television interview in
Algiers that such imports would be made this... |
U.S. FARM CREDIT RESCUE BILL SEEN BEFORE EASTER | The chairman of the Senate Agriculture
subcommittee on credit said the panel will consider a farm
credit rescue package by Easter even if the system and its
regulator do not ask for help by then.
"We're going to have a bill to markup, I guarantee you,
before the Easter recess," Sen. David Boren (D-Okla.) said.
... |
REPORT COULD BE FINAL BLOW FOR REGAN | The Tower Commission's scathing
comments on President Reagan's embattled chief of staff Donald
Regan could signal the death knell to his White House tenure,
but the impact of its strong criticism on two other top
officials was less clear.
Regan has come in for tough criticism for his handling of
Reagan's worst p... |
SWISS ECONOMY IN EXCELLENT CONDITION, OECD SAYS | Switzerland's economy, combining low
unemployment, financial stability and a large external payments
surplus, is in excellent condition and faces a satisfactory
future, the Organisation for Economic Cooperation and
Development, OECD, said.
This reflected the success of stable and relatively tight
fiscal and monetar... |
U.S. WHEAT BONUS TO SOVIET CALLED DORMANT | The U.S. Agriculture Department is not
actively considering offering subsidized wheat to the Soviet
Union under the export enhancement program (EEP), senior USDA
officials said.
However, grain trade analysts said the proposal has not
been ruled out and that an offer might be made, though not in
the very near future... |
U.S. TREASURY PART OF ARGENTINE BRIDGE LOAN | The U.S. Treasury said it was willing
to participate with several other industrial countries in
providing a 500 mln-dlr short-term bridge loan to Argentina.
The Treasury announcecement did not name the other
countries nor the amount of financing the United States was
willing to supply.
Argentina announced a wag... |
COMPANIES SET BID FOR CANADA HELICOPTER CONTRACT | (E.H. Industries (Canada) Inc) said it
plans to bid its EH101 helicopter to replace Canada's fleet of
Sea King aircraft. It said it is joining with (Bell Textron of
Canada), Canadian Marconi Co (CMW), (IMP Group), and (Paramax
Electronics Inc) and is supported by (Augusta S.P.A.),
(Sikorsky Aircraft), and (Westland Gro... |
ALATENN RESOURCES INC <ATNG> 4TH QTR NET | Shr 75 cts vs 52 cts
Net 1,699,124 vs 1,177,786
Revs 45.6 mln vs 31.6 mln
12 mths
Shr 2.22 dlrs vs 2.20 dlrs
Net 5,057,292 vs 4,961,085
Revs 130.2 mln vs 126.7 mln
Reuter
|
AMERICAN TRAVELLERS <ATVC> EXPANDS OPERATIONS | American Travellers Corp said its
American Travellers Life Insurance Co unit has expanded its
operations.
The company said the unit has begun marketing in Maryland,
Idaho and the District of Columbia.
Reuter
|
VERSATILE TO SELL UNIT TO VICON | <Versatile Corp> said
it agreed in principle to sell its Alberta-based Versatile
Noble Cultivators Co division to Vicon Inc, of Ontario, for
undisclosed terms.
The division manufactures tillage and spraying equipment.
Reuter
|
VIDEOTRON BUYS INTO EXHIBIT COMPANY | (Groupe Videotron Ltd) said it agreed to
buy 50 pct of (Groupe Promexpo Inc), a company which
specializes in product exhibits, for three mln dlrs.
Reuter
|
<MEMOTEC DATA INC> YEAR NET | Shr 81 cts vs 66 cts
Net 5,011,000 vs 2,314,000
Revs 57.3 mln vs 17.6 mln
Note: results include extraordinary gains of 1,593,000 dlrs
or 26 cts a share in 1986 and 451,000 dlrs or 13 cts a share in
1985.
Reuter
|
ROHR INDUSTRIES <RHR> SETTLES STRIKE | Rohr Industries Inc said it
has agreed on a three-year labor contract with the
International Association of Machinists and Aerospace Workders,
ending a strike that began ten days ago.
Under the pact, 4,600 union members at Rohr's Chula Vista
and Riverside plants will receive lump sum payments of ten pct,
six pct an... |
TEXACO CANADA CUTS CRUDE PRICES 64 CANADIAN CTS/BBL, PAR GRADE TO 22.26 CANADIAN DLRS
| |
BANKS EXPRESS GRAVE CONCERN ON BRAZIL DEBT MOVE | Brazil's 14-bank advisory committee
expressed "grave concern" to chief debt negotiator Antonio
Padua de Seixas over the country's suspension of interest
payments, according to a telex from committee chairman Citibank
to creditor banks worldwide.
Bankers said the diplomatic phrase belied the deep anger
and frustrati... |
TEXACO CANADA <TXC> LOWERS CRUDE POSTINGS | Texaco Canada said it lowered the
contract price it will pay for crude oil 64 Canadian cts a
barrel, effective today.
The decrease brings the company's posted price for the
benchmark grade, Edmonton/Swann Hills Light Sweet, to 22.26
Canadian dlrs a bbl.
Texaco Canada last changed its crude oil postings on Feb
1... |
JURY FINDS FOR DOW <DOW> IN BIRTH DEFECT CASE | Dow Chemical Co's <DOW> Merrell Dow
Pharmaceuticals Inc unit said a jury found that Bendectin did
not cause the birth defects of a seven-year old boy whose
mother took the drug during pregnancy.
The anti-nausea drug has been used to treat morning
sickness and was discontinued in 1983 amid allegations that the
drug... |
USDA SAID UNLIKELY TO BROADEN CORN BONUS OFFER | The U.S. Agriculture Department
probably will not offer a two dlr per bushel bonus payment to
corn farmers for any erodible cropland they enrolled in the
conservation reserve program last year, an aide to USDA
Secretary Richard Lyng said.
Sen. Charles Grassley (R-Iowa) said yesterday that Lyng had
indicated he woul... |
MARATHON PETROLEUM REDUCES CRUDE POSTINGS | Marathon Petroleum Co said it reduced
the contract price it will pay for all grades of crude oil one
dlr a barrel, effective today.
The decrease brings Marathon's posted price for both West
Texas Intermediate and West Texas Sour to 16.50 dlrs a bbl. The
South Louisiana Sweet grade of crude was reduced to 16.85 dlrs... |
AGENCY VOTES TO END LOCAL NUCLEAR PLANT VETO | The Nuclear Regulatory Commission
(NRC) proposed to ease evacuation standards for nuclear plants,
which could lead the way to the licensing of controversial
plants in New York and New Hampshire.
The NRC voted 4-1 to offer the rule for 60 days of public
comment before it reconsidered it and set emergency evacuation
... |
<GEORGE WESTON LTD> YEAR NET | Shr 2.31 dlrs vs 1.96 dlrs
Net 119.0 mln vs 101.0 mln
Revs 10.03 billion vs 8.88 billion
Reuter
|
RELIEF TO U.S. CORN/OATS GROWERS SAID LIKELY | U.S. farmers who in the past have
grown oats for their own use but failed to certify to the
government that they had done so probably will be allowed to
continue planting that crop and be eligible for corn program
benefits, an aide to Agriculture Secretary Richard Lyng said.
Currently a farmer, to be eligible for c... |
N.Z. MONEY SUPPLY RISES 3.6 PCT IN DECEMBER | New Zealand's broadly defined,
seasonally adjusted M-3 money supply grew an estimated 3.6 pct
in December after rising a revised 2.4 pct in November and 4.04
pct in December last year, the Reserve Bank said in a
statement.
It said unadjusted M-3 increased to an estimated 30.07
billion N.Z. Dlrs from a revised 28.30... |
CIRCUIT SYSTEMS <CSYI> BUYS BOARD MAKER | Circuit Systems Inc said it has
bought all of the stock of (Ionic Industries Inc) in exchange
for 3,677,272 shares of its common.
Following the exchange there will be 4,969,643 shares of
Circuit Systems stock outstanding. Ionic holders will own about
74 pct of the outstanding stock of Circuit Systems, it said.
... |
FALLING SOYBEAN CRUSH RATIOS CUT OUTPUT | The sharp decline in soybean crush ratios
seen in the last few weeks, accelerating in recent days, has
pushed margins below the cost of production at most soybean
processing plants and prompted many to cut output of soybean
meal and oil.
The weekly U.S. soybean crush rate was reported by the
National Soybean Proces... |
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