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TRADERS DETAIL FRENCH CEREAL EXPORT REQUESTS
French operators last Friday requested licences to export 10,500 tonnes of free market maize, 11,950 tonnes of free market barley and 13,000 of soft wheat flour to non-EC countries, at prefixed daily (droit commun) rebates, French trade sources said. The latest requests for the maize were for export to Switzerland,...
STUDY GROUP URGES INCREASED U.S. OIL RESERVES
A study group said the United States should increase its strategic petroleum reserve to one mln barrels as one way to deal with the present and future impact of low oil prices on the domestic oil industry. U.S. policy now is to raise the strategic reserve to 750 mln barrels, from its present 500 mln, to help protec...
NCR CORP <NCR> UNIT SIGNS DISTRIBUTION PACT
NCR Corp's Personal Computer division said it signed an agreement to distrubute its personal computer products to 544 <Computerland Corp> stores in the U.S. The company said the agreement covers its entire PC line, which will be sold by Computerland franchises, Computerland Stores Inc, and for major corporate bids,...
CARBIDE <UK> LOOKS TO ACQUISITIONS FOR GROWTH
Union Carbide Corp is looking to acquisitions and joint ventures to aid its chemicals and plastics growth, according the H.W. Lichtenberger, president of Chemicals and Plastics. Describing this as a major departure in the company's approach to commercial development, he told the annual new business forum of the Com...
CORRECTED - BANKAMERICA NEGOTIATING SALE OF UNITS
Bank of America NT and SA's <BAC.N> West German branch said it is negotiating the sale of Bankhaus Centrale Credit AG, a small local West German bank it acquired in 1965, and of its West German Visa credit card operation. Michael Seibel, Bank of America vice-president and regional manager, said the negotiations wer...
<FRANKLIN GOLD FUND> CUTS DIVIDEND
Semi div 13 cts vs 18 cts prior Pay March 13 Record March Two Reuter 
COLUMBIA GAS <CG> FORMS ERIE PIPELINE SUBIDIARY
Columbia Gas System Inc said it has formed Columbia Erie Pipeline Corp as a subsidiary to participate with Coastal Corp's <CGP> ANR Pipeline Co in construction and operation of the Erie Pipeline System. As previously announced, Columbia Gas and ANR Pipeline signed a letter of intent to form a partnership to constru...
<FRANKLIN CALIFORNIA TAX-FREE INCOME FUND>PAYOUT
Mthly div 4.5 cts vs 4.5 cts prior Pay March 13 Record March Two Reuter 
<FRANKLIN AGE HIGH INCOME FUND> SETS PAYOUT
Mthly div 3.6 cts vs 3.6 cts prior Pay March 13 Record March Two Reuter 
R.J.R. NABISCO UNIT FORMS OVERSEEING COMMITTEE
R.J. Reynolds Tobacco Co, a unit of R.J.R. Nabisco Inc <RJR>, said it has formed an executive management committee to oversee the company's worldwide tobacco operations. Reynolds Tobacco said the committee's members will be senior managers of Reynolds Tobacco Co, R.J. Reynolds Tobacco USA, and R.J. Reynolds Interna...
PETRO-CANADA CUT CRUDE PRICES BY 1.43 CANADIAN DLRS/BBL EFFECTIVE MARCH ONE
<FRANKLIN FEDERAL TAX-FREE INCOME FUND> PAYOUT
Mthly div 7.7 cts vs 7.7 cts prior Pay March 13 Record March Two Reuter 
<FRANKLIN NEW YORK TAX-FREE INCOME FUND> PAYOUT
Mthly div 7.3 cts vs 7.3 cts prior Pay March 13 Record March Two Reuter 
<FRANKLIN U.S. GOVERNMENT SECURITIES FUND>PAYOUT
Mthly div six cts vs six cts prior Pay March 13 Record March Two Reuter 
GM <GM> UNIT TO OFFER PRE-APPROVED CREDIT
General Motors Corp's GMAC Financial Services said it plans to offer 25 billion dlrs in pre-approved credit to more than two mln "preferred customers" in a nationwide direct mail campaign. The GM unit said the program is the largest automotive credit offer of its kind in history. GMAC Financial Services said th...
CANADA RULING ON U.S. CORN INJURY DUE THIS WEEK
The Canadian government is expected to announce later this week its final ruling whether U.S. corn exports to Canada have injured Ontario corn growers, U.S. government and farm group representatives said. The deadline for a final determination is March 7. U.S. officials said they are encouraged by the outcome i...
FIRST MISSISSIPPI CORP <FRM> SETS PAYOUT
Qtly div six cts vs six cts prior Pay April 28 Record March 31 Reuter 
ROTTERDAM PORT UNION AND EMPLOYERS TO MEET
Dutch port and transport union, FNV, agreed to an employers' request to reconvene abandoned peace talks tonight to try to end strikes that have disrupted Rotterdam's general cargo sector for the past six weeks, a union spokesman said. Talks broke down Thursday when the union walked out after employers tabled their ...
FED SETS 1.5 BILLION DLR CUSTOMER REPURCHASE, FED SAYS
AIRGAS <AGA> DECLINES TO COMMENT ON STOCK MOVES
The New York Stock Exchange said Airgas Inc declined to comment on its stock activity after a request for an explanation by the exchange. The company's stock was up 1-1/8 points to 11 dlrs. Reuter 
JIM WALTER CORP <JWC> SETS PAYOUT
Qtly div 35 cts vs 35 cts prior Pay April One Record March 14 Reuter 
FED ADDS RESERVES VIA CUSTOMER REPURCHASES
The Federal Reserve entered the U.S. Government securities market to arrange 1.5 billion dlrs of customer repurchase agreements, a Fed spokesman said. Dealers said Federal funds were trading at 6-3/16 pct when the Fed began its temporary and indirect supply of reserves to the banking system. Reuter 
SONY TO EXPAND U.K. TELEVISION OUTPUT
Sony (U.K.) Ltd said it would be doubling capacity at its Bridgend, Wales, television and components factory over the next three years in a 30 mln stg expansion. The expansion, backed by Welsh office grants, would make Bridgend Sony's biggest tv manufacturing plant in Europe with output of about 500,000 tv sets per...
JAPAN'S NTT FORECASTS PROFITS FALL IN 1987/88
<Nippon Telegraph and Telephone Corp> (NTT) expects its profits to fall to 328 billion yen in the year ending March 31, 1988 from a projected 348 billion this year, the company said. Total sales for the same period are expected to rise to 5,506 billion yen from a projected 5,328 billion this year, NTT said in a bus...
EC COMMISSION GIVEN PLAN TO SAVE STEEL INDUSTRY
European Community steelmakers presented the Executive Commission with a controversial plan for the future of the industry which diplomats say it may be forced reluctantly to accept. Under the plan steel output would remain subject to restrictive quotas and imports would be firmly controlled for years to come while...
LONDON STOCK EXCHANGE TO CLOSE TRADING FLOOR
The London Stock Exchange said its ruling council has decided to close the trading floor for government bonds (gilts) and equities in due course because most of the business is now done between brokers' offices. A trading floor for traded options will be retained. Dwindling activity on the exchange floor reflec...
EAGLE TELEPHONICS <EGLA> SELLS TELEPHONES
Eagle Telephonics Inc said it signed a two-year agreement under which Pacific Telesis Group's <PAC> Pacific Bell unit will buy its Eagle line of electronic key telephone systems for internal use. Terms of the contract were not disclosed. Reuter 
DURO-TEST CORP <DUR> 2ND QTR JAN 31 NET
Shr 10 cts vs 14 cts Net 531,896 vs 727,781 Revs 16.0 mln 16.8 mln Six mths Shr 30 cts vs 39 cts Net 1,532,431 vs 2,000,732 Revs 32.7 mln vs 34.5 mln Reuter 
<FRANKLIN UTILITIES FUND> SETS PAYOUT
Qtly div 14 cts vs 14 cts prior Pay March 13 Record March Two Reuter 
GELCO CORP <GEL> 2ND QTR JAN 31 NET
Shr 67 cts vs 23 cts Net 5,220,000 vs 3,143,000 Revs 236.1 mln vs 256.2 mln Avg shrs 7.8 mln vs 13.7 mln Six Mths Shr 85 cts vs 59 cs Net 8,919,000 vs 8,158,000 Revs 483.8 mln vs 515.5 mln Avg shrs 10.4 mln vs 13.7 mln NOTE: Fiscal 1987 second quarter and first half earnings include ...
INTERNCHANGE FINANCIAL SERVICES <ISBJ> PAYOUT UP
Qtly div 10 cts vs 8-1/3 cts prior Pay April 21 Record March 20 NOTE: Interchange Financial Services Corp. Reuter 
KAPOK CORP <KPK> IN TECHNICAL DEFAULT
Kapok Corp said it is in techical default of its loans from Southeast Banking Corp <STB> and Murray Steinfeld but is negotiating with the lenders. It said neither has declared the loans due. The company said it has agreed to sell the Peter Pan Restaurant in Urbana, Md., for 1,100,000 dlrs, or one mln dlrs after...
NEWPORT CORP <NESP> 2ND QTR JAN 31 NET
Shr 11 cts vs 13 cts Net 1,037,690 vs 1,270,460 Sales 10.1 mln vs 9,215,836 Six Mths Shr 25 cts vs 31 cts Net 2,319,376 vs 2,930,507 Sales 21.2 mln vs 18.9 mln Reuter 
KAPOK CORP <KPK> 1ST QTR DEC 31 LOSS
Shr loss 14 cts vs loss 21 cts Net loss 353,000 vs loss 541,000 Revs 2,668,000 vs 2,525,000 Avg shrs 2,452,3000 vs 2,552,300 Reuter 
PREFERRED HEALTHCARE LTD <PHCC> 4TH QTR NET
Shr six cts vs four cts Net 383,189 vs 241,857 Revs 1,506,756 vs 793,459 12 mths Shr 24 cts vs 15 cts Net 1,520,797 vs 929,017 Revs 5,268,486 vs 2,617,995 Reuter 
TRANZONIC COS <TNZ> SETS QUARTERLY
Qtly div 11 cts vs 11 cts prior Pay April 17 Record March 20 Reuter 
NUEUTROGENA <NGNA> TO BUY BACK STOCK
Neutrogena Corp said it may purchase up to 100,000 shares of its outstanding common stock from time to time in the open market to reduce dilution from the future issue of employee stock options. The company said it currently has 9.2 mln shares outstanding. It said the shares that may be purchased and those curr...
CRONUS INDUSTRIES INC <CRNS> 4TH QTR LOSS
Oper Shr loss 40 cts vs loss 10 cts Oper net loss 2,136,000 vs loss 467,000 Revs 21.9 mln vs 12.9 mln 12 mths Oper shr loss 63 cts vs loss 30 cts Oper net loss 3,499,000 vs loss 1,756,000 Revs 82.0 mln vs 54.5 mln NOTE: Excludes income from discontinued operations of 1,478,000 vs 952,000 for...
MERCURY ENTERTAINMENT CORP <MCRY> YEAR NOV 30
Shr loss four cts vs loss one ct Net loss 413,021 vs loss 163,932 Revs 600,971 vs 665,800 Reuter 
CME PLANS RULE CHANGES TIGHTENING S/P TRADING
Directors of the Chicago Mercantile Exchange will meet Wednesday to consider a membership petition asking the exchange to tighten rules covering trading activities in the widely-popular Standard and Poor's 500 Stock Index futures pit, an exchange executive said. The petition calls for elimination of dual trading, a...
BENGUET CORP <BE> CALENDAR 1986
Net income 154.7 mln pesos vs 127.5 mln Operating revenues 4.42 billion vs 3.3 billion Operating profit 621.2 mln vs 203.4 mln Earnings per share 4.80 vs 3.95 NOTE: Company statement said gold operations contributed 74 pct of consolidated earnings. Reuter 
POGO <PPP> CONSOLIDATES TWO DIVISIONS
Pogo Producing Co said it has consolidated its onshore and offshore Gulf Coast divisions into a Southern Division responsible for its onshore and offshore oil and gas exploration and development activities in the Gulf Coast and Gulf of Mexico areas. Reuter 
UNOCAL <UCL> UNIT CUTS CRUDE OIL POSTED PRICES
Unocal Corp's Union Oil Co said it lowered its posted prices for crude oil one to 1.50 dlrs a barrel in the eastern region of the U.S., effective Feb 26. Union said a 1.50 dlrs cut brings its posted price for the U.S. benchmark grade, West Texas Intermediate, to 16 dlrs. Louisiana Sweet also was lowered 1.50 dlrs t...
PANHANDLE'S <PEL> TRUNKLINE REDUCES GAS RATES
Panhandle Eastern Corp's Trunkline Gas Co pipeline subsidiary said it is reducing the commodity component of its wholesale natural gas rate four pct, effective immediately. In a filing with the Federal Energy Regulatory Commission, Trunkline said, it is reducing its commodity rate -- the portion of the total rate b...
INVESTOR GROUP HAS TALKS WITH PESCH ON AMI <AMI>
WEDGE Group Inc, a Houston investment firm with a 5.5 pct stake in American Medical International Inc, said it has had talks with Pesch and Co, which is seeking control of the company. In a filing with the Securities and Exchange Commission, WEDGE, which is owned by Issam Fares, a Lebanese citizen living in Switzer...
I.M.S. INTERNATIONAL INC <IMSI> SETS QUARTERLY
Qtly div four cts vs four cts prior Pay March 27 Record March 13 Reuter 
BANNER <BNR> COMPLETES TENDER FOR REXNORD <REX>
Banner Industries Inc said 19.8 mln of the outstanding 20 mln shares in Rexnord Inc were tendered pursuant to its 26.25 dlr a share offer that closed at midnight EST Feb 27. Together with the five mln Rexnard shares it already owns, the company said it now holds a 97 pct stake in the company. It said the comple...
MUTUAL OF OMAHA INTEREST SHARES <MUO> QTLY DIV
Qtly div 36 cts vs 36 cts prior Pay April one Record March 13 Reuter 
MOBIL <MOB> UNIT TO PRODUCE FOOD PACKAGING
Mobil Corp's Mobil Chemical Co's subsidiary, the world's largest producer of disposable plastic products, said it will enter the food packaging market. Mobil said it will begin making clear container food packaging for supermarkets and institutions in March and will sharply raise production in the fall to an annual...
CORRECTED - BANKAMERICA NEGOTIATING UNITS SALE
Bank of America NT and SA's <BAC.N> West German branch said it is negotiating the sale of Bankhaus Centrale Credit AG, a small local West German bank it acquired in 1965, and of its West German Visa credit card operation. Michael Seibel, Bank of America vice-president and regional manager, said the negotiations wer...
OSR <OSRC> TO MAKE ACQUISITION
OSR Corp said it has agreed to acquire the properties and assets of Telcom International Group for 10.5 mln common shares, which would give former Telcom owners an 84 pct interest in the combined company. Telcom is an international film and television distributor. The assets being acquired consist mostly of distri...
MERCURY ENTERTAINMENT <MCRY> SEES BETTER RESULTS
Mercury Entertainment Corp said it expects improved results in 1987. The company today reported a loss for the year ended November 30 of 413,021 dlrs on revenues of 600,971 dlrs, compared with a loss of 163,932 dlrs on revenues of 665,800 dlrs a year before. Reuter 
CRONUS INDUSTRIES INC <CRNS> SELLS UNIT
Cronus Industries Inc said it agreed to sell its heat transfer equipment business, Southwestern Engineering Co, for a slight premium over book value, plus a release of Cronus from liability on approximately three mln dlrs of subsidiary indebtedness. The company said the sale to a subsidiary of Senior Engineering Gr...
UNISYS CORP <UIS> SETS QUARTERLY
Qtly div 65 cts vs 65 cts prior Pay May Seven Record April Seven Reuter 
JACOBSON <JCBS> VOTES SPLIT, INCREASES PAYOUT
Jacobson Stores Inc said its board voted a three-for-two stock split, payble March 30, record March 13. In other action, Jacobson's directors approved an increase in its quarterly dividend to 11 cts on a post split basis payable April 14, record March 30. The new dividend rate represents a 32 pct increase over ...
AW COMPUTER <AWCSA> IN SUPPLY AGREEMENT
AW Computer Systems Inc said it signed an 850,000 dlr agreement with TEC America Inc <TCK> to develop and supply intelligent cash register controllers. Under terms of the agreement, AW Computer said it will design and manufacture intelligent controllers for resale by TEC worldwide. The company said the controll...
HARLEY-DAVIDSON INC <HDI> 4TH QTR NET
Oper shr 18 cts vs 51 cts Oper net 1,048,000 vs 1,870,000 Revs 72.2 mln vs 73.5 mln Avg shrs 5,910,000 vs 3,680,000 Year Oper shr 82 cts vs 72 cts Oper net 4,307,000 vs 2,637,000 Revs 295.3 mln vs 287.5 mln Avg shrs 5,235,000 vs 3,680,000 NOTE: Results exclude one-time gains of 223,0...
<HOECHST AG> COMPLETES CELANESE <CZ> ACQUISITION
Hoechst AG of West Germany said it has completed the acquisition of Celanese Corp. Hoechst acquired a majority of Celanese shares in a recent tender offer at 245 dlrs per common share. Reuter 
AMERICUS TRUST <HPU> EXTENDS DEADLINE
Americus Trust for American Home Products Shares said it extended its deadline for accepting tendered shares until November 26, an extension of nine months. The trust, which will accept up to 7.5 mln shares of American Home Products <AHP>, said it has already received tenders for about four mln shares. The trus...
MORSE SHOE INC <MRS> 4TH QTR NET
Shr 59 cts vs 48 cts Net 3,244,000 vs 2,584,000 Revs 169.3 mln vs 156.0 mln 12 mths Shr 1.78 dlrs vs 1.32 dlrs Net 9,733,000 vs 7,164,000 Revs 585.6 mln vs 541.0 Reuter 
BENETTON IN FINANCIAL SERVICES JOINT VENTURE
Benetton Group Spa <BTOM.MI> said it reached agreement with textiles concern GFT-Gruppo Finanziario Tessile Spa for a joint venture in the financial services sector. A Benetton spokeswoman said details of the accord would be outlined at a news conference on Thursday in Milan. The Italian clothing group has targeted ...
ICO QUOTA TALKS CONTINUE, OUTCOME HARD TO GAUGE
Talks at the extended special meeting of the International Coffee Organization (ICO) on the reintroduction of export quotas continued, but chances of success were still almost impossible to gauge, delegates said. Producer delegates were meeting to examine a Colombian proposal to resume historical quotas from April ...
SEC STAFF ADVISES FRAUD CHARGES AGAINST WPPSS
The staff of the federal Securities and Exchange Commission (SEC) plans to recommend that the Washington Public Power Supply System (WPPSS) be charged with securities fraud in connection with its July 1983 default on 2.25 billion dlrs of bonds, a WPPSS official told Reuters. WPPSS attorney Ron English said the syst...
PACIFIC WESTERN FUSES MANAGEMENT WITH CP AIR
<Pacific Western Airlines Corp> said it integrated the senior management of Pacific Western and recently acquired Canadian Pacific Air Lines Ltd in preparation for the companies' merger this summer. Pacific Western said it appointed president and chief executive Rhys Eaton as chairman and chief executive in the new...
AMGEN <AMGN> TO FORM PARTNERSHIP
Amgen Inc said it signed a letter of intent for an estimated 75 mln dlr research and development limited partnership to fund the clinical investigation of certain pharmaceutical products currently under development. Neither terms of the arrangement nor the products covered by the partnership were disclosed, but Amg...
BENETTON IN FINANCIAL SERVICES JOINT VENTURE
Benetton Group Spa [BTOM.MI] said it reached agreement with textiles concern [GFT-Gruppo Finanziario Tessile Spa] for a joint venture in the financial services sector. A Benetton spokeswoman said details of the accord would be outlined at a news conference on Thursday in Milan. The Italian clothing group has target...
AIBD, CEDEL, EUROCLEAR JOIN IN TRADE MATCH SYSTEM
The Association of International Bond Dealers, AIBD, said it will cooperate with major clearing agencies Cedel and Euroclear on a eurobond trade confirmation and matching system to come into force by September this year. The system, designed to give market participants a fast and reliable way of checking whether tr...
ZAPATA <ZOS> WON'T PAY INTEREST ON DEBENTURES
Zapata Corp said it does not intend to pay the interest due March 15 on its 10-1/4 pct subordinated debentures due 1997 or the interest due May One on its 10-7/8 pct subordinated debentures due 2001. Zapata said the results of continuing discussions with its bank lenders and the company's future financial position ...
HARNISCHFEGER INDUSTRIES INC <HPH> 1ST QTR NET
Shr 24 cts vs 1.20 dlrs Net 5.8 mln vs 20.2 mln Revs 193.5 mln vs 107.0 mln Avg shrs 16.4 mln vs 12.3 mln NOTE: 1987 net includes tax credits equal to 18 cts. 1986 net includes tax credits of 17 cts and a gain of 1.16 dlrs from a change in accounting for pensions. Periods end January 31, 1987 an...
IRISH OIL CONCERN HAS 8.5 PCT OF CYNERGY <CRG>
Bryson Oil and Gas Plc, a Belfast, Northern Ireland, oil company, said it has acquired an 8.5 pct stake in Cynergy Corp and took steps to help it consider the possibility of seeking control or influencing the company. In a filing with the Securities and Exchange Commission in which it disclosed its stake, Bryson sa...
ALCAN ALUMINIUM LTD SETS THREE FOR TWO STOCK SPLIT
ALBERTSON'S INC <ABS> 4TH QTR JAN 29 NET
Shr 92 cts vs 83 cts Net 30.8 mln vs 27.5 mln Sales 1.40 billion vs 1.32 billion Year Shr 3.00 dlrs vs 2.57 dlrs Net 184.8 mln vs 154.8 mln Sales 5.38 billion vs 5.06 billion Reuter 
U.S. INTEC INC <INTK> 4TH QTR NET
Qtly div six cts vs five cts Net 188,000 vs 130,000 Sales 12.2 mln vs 10.1 mln Avg shrs 3,029,930 vs 2,764,544 Year Shr 81 cts vs 1.45 dlrs Net 2,463,000 vs 3,718,000 Sales 52.4 mln vs 47.5 mln Avg shrs 3,029,930 vs 2,566,680 NOTE: 1985 year net includes gain 500,000 dlrs frol life i...
FRANKLIN RESOURCES <BEN> FORMS THREE FUNDS
Franklin Resources Inc said it formed three mutual funds that free Pennsylvania residents of taxes levied by the state's counties on stocks, bonds and mutual fund shares. The funds include the Franklin Pennsylvania Investors U.S. Government Securities Fund, which invests in Ginnie Mae securities, and the Franklin P...
CINCINNATI BELL INC <CSN> RAISES QUARTERLY
Qtly div 48 cts vs 44 cts prior Pay May One Record April One Reuter 
CINCINNATI BELL <CSN> SETS STOCK SPLIT
Cincinnati Bell Inc said its board declared a two-for-one stock split, subject to two thirds approval at the annual meeting on April 20 of an increase in authorized common shares to 120 mln from 60 mln. It said the split would be payable May 20 to holders of record May Five. Reuter 
BRT REALTY TRUST <BRT> RAISES QUARTERLY PAYOUT
BRT Realty Trust said it raised its quarterly dividend to 50 cts a share from the 42 cts paid in the previous quarter. It said the dividend is payable March 31 to shareholders of record March 17. BRT also said it filed a registration statement with the Securities and Exchange Commission for the public offering ...
UNIVERSAL HEALTH REALTY <UHT> IN INITIAL PAYOUT
Universal Health Realty Income Trust, which recently went public, said its board has declared an initial quarterly dividednd of 33 cts per share, payable MArch 31 to holders of record March 16. Reuter 
QED EXPLORATION INC <QEDX> 2ND QTR JAN 31 NET
Shr six cts vs 12 cts Net 132,151 vs 261,560 Revs 622,909 vs 968,4287 1st half Shr nine cts vs 24 cts Net 204,765 vsd 539,769 Revs 1,181,424 vs 1,867,892 Reuter 
PREFERRED HEALTH CARE LTD <PHCC> YEAR DEC 31 NET
Shr 24 cts vs 15 cts Net 1,520,797 vs 929,017 Revs 5,268,486 vs 2,617,995 Reuter 
AOI COAL CO <AOI> 4TH QTR NET
Oper shr one ct vs one ct Oper net 147,000 vs 40,000 Revs 13.5 mln vs 14.1 mln Year Oper shr five cts vs 20 cts Oper net 621,000 vs 2,274,000 Revs 54.3 mln vs 56.0 mln NOTE: 1986 net excludes tax credits of 60,000 dlrs in quarter and 218,000 dlrs in year. Results reflect acceleration of ...
AIBD, CEDEL, EUROCLEAR JOIN IN TRADE MATCH SYSTEM
The Association of International Bond Dealers, AIBD, said it will cooperate with major clearing agencies Cedel and Euroclear on a eurobond trade confirmation and matching system to come into force by September this year. The system, designed to give market participants a fast and reliable way of checking whether tr...
WESTERN DIGITAL <WDC> ADDS E-MAIL PACKAGE
Western Digital Corp said it signed a licensing agreement under which it will sell an electronic mail software package from <Consumers Software>, Gilroy, Calif. Western Digital said the software package, named Network Courier, allows computer users operating on a local area network to exchange messages and files wi...
MIDWAY <MDWY> TO EXPAND SERVICE
Midway Airlines Inc said will begin to serve several new cities in the United States this year, starting April five with new flights to Atlanta from Chicago. The carrier will fly three daily Atlanta flights out of Chicago's Midway Airport using two new airplanes and aircraft acquired from KLM. Reuter 
FOOTHILL <GFI> ARRANGES DEBT PLACEMENT
Foothill Group Inc said its Foothill Capital Corp unit arranged the private placement of 23 mln dlrs in senior debt and 27 mln in senior subordinated debt. The senior and senior subordinated debt was purchased by institutional lenders and will bear interest at 9.4 pct and 10.15 pct, respectively, Foothill said. ...
KEVEX CORP <KEVX> 2ND QTR JAN 31 NET
Shr eight cts vs one ct Net 399,000 vs 44,000 Sales 9,603,000 vs 7,107,000 Six Mths Shr 10 cts vs one ct Net 503,000 vs 69,000 Sales 17.3 mln vs 13.8 mln Reuter 
WESTERN UNION <WU> NAMES NEW PRESIDENT
Western Union said John Pope Jr has been elected president of the telegraph company and executive vice president of the corporation. Western Union said Pope, formerly the executive vice president of the company, succeeds Robert Leventhal. The company said Leventhal will remain chairman and chief executive offic...
NORTH ATLANTIC INDUSTRIES INC <NATL> YEAR NET
Shr 40 cts vs 30 cts Net 1,408,000 vs 1,038,000 Sales 35.2 mln vs 31.6 mln NOTE: Results restated for change to FIFO inventory accounting from LIFO, which reduced 1985 net 192,000 dlrs or five cts a share. Reuter 
CHURCHILL TO MARKET WESTERN UNION <WU> SERVICES
<Churchill Communications Corp> said it signed an agreement under which it will sell and service Western Union Corp's telex, electronic mail and long distance services to customers not directly assigned to Western Union representatives. Churchill, a privately held firm that processes electronic mail services, said ...
COMBUSTION ENGINEERING <CSP> SETS CHINA PACT
Combustion Engineering Inc said it won a contract worth more than 50 mln dlrs for parts and services for a 600 megawatt coal-fired power plant run by the China National Technical Import Corp. It said it will supply plant engineering, steam generator components and air quality control systems. Initial delivery is se...
ALCAN ALUMINIUM LTD <AL> SETS STOCK SPLIT
Alcan Aluminium Ltd said its board declared a three-for-two stock split, subject to shareholder approval at the April 23 annual meeting. The company said the split would be payable to shareholders of record on May Five and the split would take effect at the close of business on that date. New certificates will be i...
BUFFETS INC <BOCB> 4TH QTR NET
Shr 10 cts vs nine cts Net 388,000 vs 328,000 Sales 7.1 mln vs 4.1 mln Avg shrs 4,066,309 vs 3,688,890 Year Shr 37 cts vs 30 cts Net 1,415,000 vs 955,000 Sales 27 mln vs 13.1 mln Avg shrs 3,849,659 vs 3,133,446 Reuter 
STANDARD OIL SETS 154 MLN SWISS FRANC NOTE WITH 3-1/4 PCT COUPON AND CURRENCY WARRANTS
STANDARD MOTORS PRODUCTS INC <SMP> 4TH QTR NET
Shr 38 cts vs 26 cts Net 4,955,000 vs 3,444,000 Revs 81.7 mln vs 59.3 mln 12 mths Shr 1.41 dlrs vs 80 cts Net 18.6 mln vs 10.5 mln Revs 286.4 mln vs 242.8 mln Reuter 
COMMERCIAL CREDIT <CCC> TO HAVE GAIN ON SALE
Commercial Credit Co said it has completed the sale of its domestic vehicle leasing unit, McCullagh Leasing Inc, the New England Merchants Leasing Corp for an after-tax gain of 17 mln dlrs. Commercial Credit said it received 68 mln dlrs and the repayment of 250 mln dlrs in debt for McCullagh. It said its Canadian ...
AIR WIS SERVICES INC <ARWS> 4TH QTR NET
Shr 32 cts vs five cts Net 2,362,000 vs 384,000 Revs 29.5 mln vs 31.2 mln Year Shr 66 cts vs 18 cts Net 4,869,000 vs 1,336,000 Revs 119.2 mln vs 120.2 mln NOTE: Net includes tax credits of 963,000 dlrs vs 720,000 dlrs in quarter and 613,000 dlrs vs 1,460,000 dlrs in year. Year net includ...
OPEC PRESIDENT SAYS OIL MARKET BEING MANIPULATED
OPEC president Rilwanu Lukman accused "oil market manipulators" of drawing down their own stocks and spreading rumours to give the impression OPEC was breaking its 15.8 mln barrels per day output ceiling, set last December. Lukman told reporters the aim was to pull prices below the 18 dlrs per barrel reference leve...
ARBOR DRUGS INC <ARBR> 2ND QTR JAN 31 NET
Shr 30 cts vs 36 cts Net 1,914,388 vs 1,906,095 Sales 58.7 mln vs 40.6 mln Six mths Shr 47 cts vs 53 cts Net 2,961,718 vs 2,817,439 Sales 107.6 mln vs 74.9 mln Avg shrs 6,342,353 vs 5,342,353 Reuter 
EPITOPE <EPTO> SETS THREE FOR ONE STOCK SPLIT
Epitope Inc said its board of directors has authorized a three-for-one common stock split for which shareholder approval is expected in the next two weeks. The company announced a two-for-one split last week, but said the board reconvened and agreed to change it to a three-for-one split. Epitope is involved in ...
AMC SAYS STEPS BEING TAKEN TO BUILD NEW JEEP AT ALTERNATE SITE AFTER UAW TALKS FAIL