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 FEDERAL RESERVE MONEY SUPPLY REPORT - FEB 26 One Week Ended Feb 16 M-1.........................736.7 up.......2.1 Previous week revised to....734.6 From...734.2 Avge 4 Weeks (Vs Week Ago).735.0 Vs.....733.5 Avge 13 Weeks (Vs week Ago).731.8 Vs.....729.8 Monthly aggregates (Adjusted avgs in billions) M-1 (Jan vs De... | |
 FEDERAL RESERVE WEEKLY REPORT 3 - FEB 26 One week ended Feb 25 daily avgs-mlns Govts bought outright....193374 down....1342 Govts repurchases............nil unch......... Agencies bought outright...7719 unch......... Agencies repurchases.........nil unch......... Acceptances repurchases......nil unch......... Matc... | |
 FEDERAL RESERVE WEEKLY REPORT 4 - FEB 26 One week ended Feb 25 Daily avgs-Mlns Foreign deposits.............219 down.......29 Gold stock................11059 unch......... Custody holdings.........168348 down......366 Federal funds rate avg......5.95 vs.......6.21 Factors on Wednesday Feb 25 Bank borrowings.......... | |
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) and will ... | WORLD MARKET PRICE FOR UPLAND COTTON - 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 ALLOCATIONS ARGENTINA nil 39130 AUSTR... | SUGAR QUOTA IMPORTS DETAILED -- USDA |
There were seven grain ships loading and six ships were waiting to load at Portland according to the Portland Merchants Exchange. Reuter | GRAIN SHIPS LOADING AT PORTLAND |
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 statewment... | IRAN ANNOUNCES END OF MAJOR OFFENSIVE IN GULF WAR |
Qtly div 25 cts vs 25 cts prior Pay April one Record March 15 Reuter | MERIDIAN BANCORP INC <MRDN> SETS REGULAR PAYOUT |
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 two-w... | U.S. BANK DISCOUNT BORROWINGS 310 MLN DLRS |
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 calculated a pa... | AMERICAN EXPRESS <AXP> SEEN IN POSSIBLE SPINNOFF |
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 weeks 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. Econom... | U.S. M-1 MONEY SUPPLY ROSE 2.1 BILLION DLRS |
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 produces... | GENERAL BINDING <GBND> IN MARKETING AGREEMENT |
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 fund beg... | LIBERTY ALL-STAR <USA> SETS INITIAL PAYOUT |
Coca-Cola Cos 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 | COCA COLA <KO> UNIT AND WORLD FILM IN VENTURE |
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 the redem... | FORD MOTOR CREDIT <F> TO REDEEM DEBENTURES |
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 | STERLING SOFTWARE <SSW> NOTE HOLDERS OK BUY |
Schult Homes Corp announced an initial public offering of 833334 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 holders to b... | <SCHULT HOMES CORP> MAKES INITIAL STOCK OFFER |
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 | FLUOR <FLR> UNIT GETS CONSTRUCTION CONTRACT |
Suffield Financial Corp said Jon Googel and Benjamin Sisti of Colonial Realty West Hartford Conn. purchased 175900 shares of its stock for 3416624. The company said the purchase equals 5.2 pct of its outstanding shares. Reuter | SUFFIELD FINANCIAL CORP <SFCP> SELLS STOCK |
<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 ... | <HIGH POINT FINANCIAL CORP> SETS OFFERING |
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 project... | CHINESE PORK OUTPUT SEEN LOWER -- USDA |
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 | LANDMARK BANCSHARES <LBC> TO BE LISTED ON NYSE |
(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 reach 1986 ... | IVACO SEES MINIMAL FIRST QUARTER EARNINGS |
U.S. grain carloadings totaled 26108 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 11382 cars down 1.8 pct from the previous week but 7.6 pct abo... | U.S. GRAIN CARLOADINGS FALL IN WEEK |
Industrial Equity (Pacific) Ltd a Hong Kong investment firm said it raised its stake in Wrather Corp to 816000 shares or 11.3 pct of the total outstanding common stock from 453300 shares or 6.3 pct. In a filing with the Securities and Exchange Commission Industrial Equity which is principally owned by Brierley Investme... | HONG KONG FIRM UPS WRATHER<WCO> STAKE TO 11 PCT |
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 | COLECO INDUSTRIES INC <CLO> 4TH QTR |
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 crude oil... | DIAMOND SHAMROCK (DIA) CUTS CRUDE PRICES |
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 | LIEBERT CORP <LIEB> APPROVES MERGER |
NORTHERN TELECOM PROPOSES TWO-FOR-ONE STOCK SPLIT | |
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 primarily to t... | COLECO INDUSTRIES <CLC> SEES PROFIT IN 1987 |
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 continue as chair... | OLIN CORP <OLM> TO ELECT NEW CEO IN APRIL |
 FEDERAL RESERVE WEEKLY REPORT 1 - FEB 26 Two weeks ended Feb 25 daily avgs-mlns Net free reserves.............644 vs.....1337 Bank borrowings...............680 vs.......425 Including seasonal loans.......81 vs........56 Including extended loans......299 vs.......265 Excess reserves.............1025 vs.....1497 Req... | |
 FEDERAL RESERVE WEEKLY REPORT 2 - FEB 26 Two weeks ended Feb 25 Total vault cash...........25237 vs....27327 Inc cash equal to req res..22834 vs....24680 One week ended Feb 25 Daily avgs-Mlns Bank borrowings...............614 down.....131 Including seasonal loans.......88 up........14 Including extended loans........ | |
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 | GULF APPLIED TECHNOLOGIES <GATS> SELLS UNITS |
A group of affiliated Miami-based investment firms led by Fundamental Management Corp said it raised its stake in Robeson Industries Corp to 238000 shares or 14.6 pct of the total from 205000 or 12.8 pct. In a filing with the Securities and Exchange Commission the group said it bought 32800 Robeson common shares betwee... | INVESTMENT GROUP RAISES ROBESON <RBSN> STAKE |
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 and Bud... | GAO LIKELY TO SHOW CERTS MORE COSTLY THAN CASH |
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 venezuelas... | Venezuela seeks 'flexibility' from banks-azpurua |
Shr profit 10 cts vs loss seven cts Net profit 286870 vs loss 156124 Revs 10.0 mln vs 7577207 Year Shr profit five cts vs profit 42 cts Net profit 160109 vs profit 906034 Revs 38.1 mln vs 31.2 mln Avg shrs 2.9 mln vs 2.2 mln NOTE: 1986 year includes 53 weeks. Reuter | DAHLBERG INC <DAHL> 4TH QTR NET |
Shr 16 cts vs 13 cts Pay April 15 Record March 31 Reuter | CITY NATIONAL CORP <CTYN> RAISES DIVIDEND |
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 | <PAGE PETROLEUM LTD> YEAR LOSS |
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. The CMO... | THOMSON MCKINNON UNIT'S CMO OFFERING PRICED |
Period ended December 31. Shr 25 cts vs 20 cts Net 801000 vs 703000 Revs 6318000 vs 3926000 Reuter | IDB COMMUNICATIONS GROUP INC <IDBX> YEAR NET |
Qtly div ten cts vs ten cts Pay April 1 Record March 9 Reuter | ARMOR ALL PRODUCTS CORP <ARMR> QUARTERLY DIV |
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 sort out... | OPEC MAY HAVE TO MEET TO FIRM PRICES - ANALYSTS |
Cenergy Corp reported fourth quarter net income of 790000 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. Follo... | CENERGY <CRG> REPORTS 4TH QTR NET PROFIT |
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 | NORTHERN TELECOM LTD <NT> DECLARES STOCK SPLIT |
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 eight... | TORCHMARK <TMK> AUTHORIZES STOCK REPURCHASE |
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 1060.50 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. Reut... | PAINEWEBBER GROUP <PWJ> TO REDEEM DEBENTURES |
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 200000 preferred shares to Richard Manoogian a Scherer director at 25 dlrs a share. Man... | R.P. SCHERER <SCHC> SETS PREFERRED STOCK OFFER |
<Parlux Fragrances Inc> said it completed the offering of 420000 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 between ... | PARLUX FRAGRANCES COMPLETES INITIAL OFFERING |
Shr loss six cts vs not available Net loss 562231 vs profit 10253 Revs 8871874 vs 9549308 Year Shr loss 60 cts vs loss nine cts Net loss 5058145 vs loss 766185 Revs 34.3 mln vs 35.5 mln Reuter | TECHAMERICA GROUP INC <TCH> 4TH QTR LOSS |
Qtly div three cts vs three cts prior Pay April three Record March 13 Reuter | WILFRED AMERICAN EDUCATIONAL <WAE> REGULAR DIV |
A senior official of Drexel Burnham Lambert Inc and his father told the Securities and Exchange Commission they have acquired 258591 shares of Epsilon Data Management Inc or 9.4 pct of the total outstanding. Kenneth Thomas senior vice president-investments at Drexels Los Angeles office and his father retired university... | DREXEL OFFICIAL HAS STAKE IN EPSILON DATA <EPSI> |
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 | PROPOSED OFFERINGS RECENTLY FILED WITH THE SEC |
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. They also... | VARIAN <VAR>, SIEMENS FORM JOINT VENTURE |
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 mak... | DU PONT <DD> WINS SUIT AGAINST PHILLIPS <P> |
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 Faiths purchase of the Husky stak... | <NOVA> WINS GOVERNMENT OKAY FOR HUSKY <HYO> DEAL |
Presidential Airways Inc said its joint marketing and services agreement with Texas Air Corps <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 will rem... | PRESIDENTIAL AIRWAYS <PAIR> PACT APPROVED |
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 44600 of the Single Channel Ground and Airborne Radio System (SINCGARS) sets has been delayed since the contract was let in 1983. The radios di... | ARMY TO RENEGOTIATE ITT <ITT> RADIO CONTRACT |
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 Virginia service territory t... | POTOMAC ELECTRIC POWER CO <POM> JANUARY NET |
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 for 10 ye... | TORCHMARK <TMK> SELLS SINKING FUND DEBENTURES |
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 Maines banking department. Reuter | SUFFIELD FINANCIAL <SSBK> GETS FED APPROVAL |
Qtly div four cts vs four cts Pay April 3 Record March 23 Reuter | AFG INDUSTRIES INC <AFG> QUARTERLY DIVIDEND |
Oper shr 2.16 dlrs vs 2.07 dlrs Oper net 8037000 vs 7710000 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 | <GSW INC> YEAR NET |
Qtly div 51 cts vs 51 cts Pay April 9 Record March 25 (Santa Anita Realty Enterprises Inc) Reuter | SANTA ANITA REALTY <SAR> QUARTERLY DIVIDEND |
Qtly div 40 cts vs 40 cts Pay March 31 Record March 16 Reuter | LIQUID AIR CORP <LANA> QUARTERLY DIVIDEND |
Oper shr five cts vs 36 cts Oper net 508000 vs 3450000 Revs 296.7 mln vs 298.0 mln Note: former name Marshall Drummond McCall Inc. Results include extraordinary gains of 952000 dlrs or 11 cts per share in 1986 and 2569000 dlrs or 29 cts in 1985 from income tax reduction. Reuter | (MARSHALL STEEL LTD) YEAR NET |
(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 | MARSHALL STEEL DETAILS GAIN FROM UNIT SALE |
Oper shr 21 cts vs 18 cts Oper net 659000 vs 523000 Revs 7866000 vs 5503000 Avg shrs 3141217 vs 2925294 12 mths Oper shr 70 cts vs 46 cts Oper net 2075000 vs 1358000 Revs 25.9 mln vs 19.3 mln Avg shrs 2980247 vs 2925294 Note: Excludes tax gain of 295000 dlrs for qtr and year. Reuter | MAYFAIR INDUSTRIES INC <MAYF> 4TH QTR NET |
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 acquisitions.... | (CORRECTED) - BANPONCE <BDEP> PLACES NOTES |
U.S. TREASURY SAYS IT WILL PARTICIPATE WITH OTHERS IN 500 MLN DLR BRIDGE LOAN TO ARGENTINA | |
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 notified it that... | U.S. REGULATOR CLOSES BANKS IN TEXAS, LOUISIANA |
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 | OLIN <OLN> NAMES SUCCESSOR FOR CHIEF EXECUTIVE |
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 U.... | DAEWOO MOTOR TO BOOST IMPORTS OF U.S. GOODS |
Brazils 14-bank advisory committee expressed grave concern to chief debt negotiator Antonio Padua de Seixas over the countrys 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 frustration on the... | BANKS EXPRESS GRAVE CONCERN ON BRAZIL DEBT MOVES |
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 year. C... | LNG IMPORTS FROM ALGERIA UNLIKELY IN 1987 |
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. Were going to have a bill to markup I guarantee you before the Easter recess Sen. David Boren (D-Okla.) said. Senate Majorit... | U.S. FARM CREDIT RESCUE BILL SEEN BEFORE EASTER |
The Tower Commissions scathing comments on President Reagans 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 Reagans worst political cr... | REPORT COULD BE FINAL BLOW FOR REGAN |
Switzerlands 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 monetary policies ... | SWISS ECONOMY IN EXCELLENT CONDITION, OECD SAYS |
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. The g... | U.S. WHEAT BONUS TO SOVIET CALLED DORMANT |
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 wage and pr... | U.S. TREASURY PART OF ARGENTINE BRIDGE LOAN |
(E.H. Industries (Canada) Inc) said it plans to bid its EH101 helicopter to replace Canadas 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 Group) in... | COMPANIES SET BID FOR CANADA HELICOPTER CONTRACT |
Shr 75 cts vs 52 cts Net 1699124 vs 1177786 Revs 45.6 mln vs 31.6 mln 12 mths Shr 2.22 dlrs vs 2.20 dlrs Net 5057292 vs 4961085 Revs 130.2 mln vs 126.7 mln Reuter | ALATENN RESOURCES INC <ATNG> 4TH QTR NET |
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 | AMERICAN TRAVELLERS <ATVC> EXPANDS OPERATIONS |
<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 | VERSATILE TO SELL UNIT TO VICON |
(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 | VIDEOTRON BUYS INTO EXHIBIT COMPANY |
Shr 81 cts vs 66 cts Net 5011000 vs 2314000 Revs 57.3 mln vs 17.6 mln Note: results include extraordinary gains of 1593000 dlrs or 26 cts a share in 1986 and 451000 dlrs or 13 cts a share in 1985. Reuter | <MEMOTEC DATA INC> YEAR NET |
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 4600 union members at Rohrs Chula Vista and Riverside plants will receive lump sum payments of ten pct six pct and six pct... | ROHR INDUSTRIES <RHR> SETTLES STRIKE |
TEXACO CANADA CUTS CRUDE PRICES 64 CANADIAN CTS/BBL, PAR GRADE TO 22.26 CANADIAN DLRS | |
Brazils 14-bank advisory committee expressed grave concern to chief debt negotiator Antonio Padua de Seixas over the countrys 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 frustration on the... | BANKS EXPRESS GRAVE CONCERN ON BRAZIL DEBT MOVE |
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 companys 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 19. Reuter | TEXACO CANADA <TXC> LOWERS CRUDE POSTINGS |
Dow Chemical Cos <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 ca... | JURY FINDS FOR DOW <DOW> IN BIRTH DEFECT CASE |
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 would con... | USDA SAID UNLIKELY TO BROADEN CORN BONUS OFFER |
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 Marathons 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 a bbl... | MARATHON PETROLEUM REDUCES CRUDE POSTINGS |
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 stand... | AGENCY VOTES TO END LOCAL NUCLEAR PLANT VETO |
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 | <GEORGE WESTON LTD> YEAR NET |
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 corn pr... | RELIEF TO U.S. CORN/OATS GROWERS SAID LIKELY |
New Zealands 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 billio... | N.Z. MONEY SUPPLY RISES 3.6 PCT IN DECEMBER |
Circuit Systems Inc said it has bought all of the stock of (Ionic Industries Inc) in exchange for 3677272 shares of its common. Following the exchange there will be 4969643 shares of Circuit Systems stock outstanding. Ionic holders will own about 74 pct of the outstanding stock of Circuit Systems it said. Ionic a maker... | CIRCUIT SYSTEMS <CSYI> BUYS BOARD MAKER |
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 Processors A... | FALLING SOYBEAN CRUSH RATIOS CUT OUTPUT |
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