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Salomon Inc had a reduction in trading revenue in April and May managing director Robert Salomon said in response to questions. Analysts have said they believe the lower second quarter profit predicted by Salomon Inc was partially the result of trading losses and lower revenues from low trading volume. They said they b... | SALOMON INC <SB> SAW REDUCTION IN REVENUES |
DUPONT UNIT RAISES CRUDE OIL POSTINGS 50 CTS/BBL, EFFECTIVE YESTERDAY | |
General Automation Inc said it has signed a definitive agreement to pay 4.5 mln dlrs to the Internal Revenue Service in taxes interest and penalties for the years 1972 through 1981. It will make an initial payment on June 30 of 500000 dlrs with ongoing quarterly payments over about two years. General Automation said in... | GENERAL AUTOMATION <GENA.O> SETS PACT WITH IRS |
Hydro Optics Inc said Kenneth S. Roth has resigned as president and chairman. No reason was given. It said director Melvin L. Gold has been named chairman and chief executive officer and vice president-sales Barry Kay has been named president and chief operating officer. Reuter | HYDRO OPTICS <HOPC.O> CHAIRMAN RESIGNS |
McDonnell Douglas Corp said it received authorization to build larger solid rocket boosters than the U.S. Air Force originally planned. McDonnell Douglas which said it subcontracts the orders also said the new solid rocket boosters will be 42 feet long increased from the original 36-foot long type. The company said the... | MCDONNELL DOUGLAS <MD> GETS AIR FORCE CONTRACT |
Qtr ended May 2 Oper shr profit three cts vs loss five cts Oper net profit 115000 dlrs vs loss 152000 Revs 7652000 vs 4279000 Six mths Oper shr profit ten cts vs loss 34 cts Oper net profit 342000 vs loss 1149000 Revs 14.0 mln vs 7398000 Note: oper data does not include extraordinary gain of 28000 dlrs or one ct per sh... | APPLIED SOLAR ENERGY CORP <SOLR.O> 2ND QTR NET |
Shr 44 cts vs 23 cts Net 3050000 vs 1555000 Sales 21.0 mln vs 19.2 mln 1st half Shr 72 cts vs 36 cts Net 4948000 vs 2447000 Sales 37.8 mln vs 34.5 mln Reuter | SANFORD CORP <SANF.O> 2ND QTR MAY 31 NET |
March 31 end Shr profit 14 cts vs loss two cts Net profit 345544 vs loss 48097 Sales 1032224 vs 514656 Avg shrs 2420925 vs 2289925 1st half Shr profit 21 cts vs profit nil Net profit 496714 vs profit 5602 Sales 1649860 vs 1099379 Avg shrs 2407334 vs 2222591 NOTE: Prior half net includes 1849 dlr tax credit. Reuter | CONVERGENT SOLUTIONS INC <CSOL.O> 2ND QTR NET |
Bell South Corps Southern Bell said American Telephone and Telegraph Cos <T> network systems and <Hayes Microcomputer Products> will use its integrated services digital network services when the product is launched in March 1988. Reuter | BELL SOUTH <BLS> UNIT GETS DIGITAL CUSTOMERS |
Shr loss three cts vs loss three cts Net loss 78456 vs loss 95812 Sales 513607 vs 283043 Avg shrs 3106000 vs 2933333 Reuter | <BARRICINI FOODS INC> 1ST QTR LOSS |
Qtly div 30 cts vs 30 cts prior Pay July 31 Record July Six Reuter | J.P. STEVENS AND CO INC <STN> SETS QUARTERLY |
First Wisconsin Corp said directors of its First Wisconsin National Bank of Milwaukee approved a 96 mln dlr increase in the banks loan loss reserves in response to uncertainty over the impact of third world debt repayment problems. It said the reserve increase will result in a second quarter loss to the corporation of ... | FIRST WISCONSIN <FWB> ADDS LOAN LOSSES |
The European Community (EC) accused the United States of violating a political commitment to free trade through practices including a tax on imported gasoline and a customs user fee. EC ambassador Tran Van-Thinh made the formal charge to the surveillance body of the General Agreement on Tariffs and Trade (GATT) GATT sp... | EUROPEAN COMMUNITY CRITICISES U.S TRADE MEASURES |
COMMITMENTS TO NEW ARGENTINE LOAN REACH 91 PCT, CLOSE TO "CRITICAL MASS," CITIBANK SAYS | |
MerchantsBank of Boston said it has received an 8400000 dlr dividend from the Co-Operative Central Bank Share Insurance Fund and the amount will be included in revenues for the second quarter. The fund is liquidating since all cooperative banks in Massachusetts have obtained federal insurance. Reuter | MERCHANTSBANK <MCBKA> GETS DIVIDEND DISTRIBUTION |
Ferro Corp said it expects to report second quarter earnings of about seven mln dlrs or about 1.02 dlrs a share on sales of about 220.0 mln dlrs In the year ago quarter the maker of industrial specialty materials earned 5.1 mln dlrs or 75 cts a share on sales of 185.1 mln dlrs. Based on its current second quarter estim... | FERRO <FOE> SEES STRONG 2ND QTR, SIX MONTHS |
California Energy Co Inc said its 10th geothermal production well at the COSO Project in China Lake Calif. tested one mln pounds of geothermal steam per hour at 420 degrees Fahrenheit from a depth of 3000 feet. The company said it now has geothermal resrves at COSO sufficient to produce 30 megawatts of power for 30 yea... | CALIFORNIA ENERGY <CECI.O> IN GEOTHERMAL FIND |
Conoco Inc a subsidiary of duPont deNemours <DD> said it raised the contract price it will pay for all grades of crude oil 50 cts a barrel effective yesterday. The increase brings Conocos posted price for West Texas Intermediate to 19.00 dlrs a barrel. The West Texas Sour grade at 34 API now stands at 18.10 dlrs a b... | DUPONT UNIT RAISES CRUDE OIL POSTINGS |
<LM Ericsson Telephone Co> of Sweden said its Ericsson unit in the U.S. introduced a cellular system for small cellular telephone markets. The company said its CMS 8800/S system incorporates Ericsson hardware and software. It said extra base stations and voice channels can be added to the system in modular blocks. R... | LM ERICSSON <ERICY> UNIT INTRODUCING PRODUCT |
Allegheny International Inc said it has sold its Chemetron Railway Products Inc True Temper Railway Appliances Inc and Allegheny Axle Co units to newly-formed Chemetron Railway Products Inc for undisclosed terms. It said the new company was formed by senior management of the three railway product units and Kleinwort Be... | ALLEGHENY INTERNATIONAL <AG> SELLS THREE UNITS |
Commitments to Argentinas external financing program for 1987 and 1988 have reached about 91 pct of the 1.95 billion dlrs in new loans that banks have been asked to provide Citibank and Argentina said in a joint statement. This percentage is close to the critical mass of commitments that the International Monetary Fund... | COMMITMENTS TO NEW ARGENTINE LOAN REACH 91 PCT |
Pacific First Financial Corp said president Jerry Pohlman was appointed chairman and chief executive officer replacing James Anderson who resigned. Reuter | PACIFIC FIRST <PFFS.O> CHAIRMAN RESIGNS |
Qtly div five cts vs five cts prior Pay July 15 Record June 26 Reuter | BRAINTREE SAVINGS BANK <BTSB.O> SETS PAYOUT |
Qtly div 32 cts vs 32 cts prior qtr Pay 29 July Record 2 July Reuter | COMMERCE CLEARING HOUSE INC <CCLR.O> DIVIDEND |
AmVestors Financial Corp said underwriters Smith Barney Harris Upham and Co Inc and Morgan Keegan Inc <MOR> have exercised their overallotment option for an additional 10000 common shares at 9.50 dlrs each in connection with a recent offering of 100000 AmVestors shares. It said it realized net proceeds of 886000 dlr... | AMVESTORS <AVFC.O>OVERALLOTMENT OPTION EXERCISED |
Qtly div three cts vs three cts prior Pay July 15 Record July One NOTE: Scott and Stringfellow Financial Inc Reuter | SCOTT AND STRINGFELLOW FINANCIAL <SCOT.O> PAYOUT |
Zambias copper mining industry is hoping to achieve and maintain production at over 500000 tonnes a year in the next few years despite low world prices deteriorating ores and shortages of mine inputs industry officials said. But Zambias decision to abandon last May 1 a tough International Monetary Fund (IMF) economic r... | ZAMBIAN COPPER INDUSTRY HOPES FOR STEADY OUTPUT |
Qtly div nine cts vs nine cts prior Pay July 20 Record July 6 Reuter | EXCEL INDUSTRIES INC <EXC> DIVIDEND SET |
Rio de Janeiros 3500 dockworkers went on strike for an indefinite period today to demand wage increases a spokesman for the dockers said. The Rio dockers did not get support from their colleagues in Santos Brazils main port but the spokesman said they would not return to work unless their demands were met. Earlier this... | RIO DE JANEIRO DOCKERS STRIKE OVER WAGES |
Fluor Corp said it won a contract with General Electric to design construct and deliver modules for a methyl chloride process addition. The value of the contract was not disclosed. Fluor said its Applied Engineering Co unit will construct 28 modular sections and deliver them to GEs Waterford N.Y. Silicone Products divi... | FLUOR <FLR> WINS GENERAL ELECTRIC <GE> CONTRACT |
Shawmut Corp said it has repurchased 400000 common shares and placed them in its treasury. The company has about 16.1 mln shares outstanding. Reuter | SHAWMUT <SHAS.O> REPURCHASES 400,000 SHARES |
Little Prince Productions Ltd said it settled litigation with Nederlander Group receiving one mln dlrs and paying Nederlander 38000 dlrs. Reuter | LITTLE PRINCE <LTLP.O> SETTLES SUIT |
Continental Illinois Corp said it knows of know reason why its stock was trading higher in heavy volume. The stock was up 1/2 to 5-3/8 on turnover of 1386000 shares making it one of the most actively traded NYSE issues. Traders earlier said Goldman Sachs and Co was trading on the stock. However Goldman Sachs banking an... | CONT'L ILLINOIS <CIL> CANNOT EXPLAIN STOCK MOVE |
GENCORP SAID AGREEMENT TO SELL RKO PICTURES TERMINATED | |
Kelley Oil and Gas Partners Ltd said it has agreed to purchase all of CF Industries Incs oil and natural gas properties for about 5500000 dlrs effective July 1. It said the Louisiana properties had proven reserves at year-end of 11 billion cubic feet of natural gas and 85000 barrels of oil condensate and natural gas li... | KELLEY OIL <KLY> BUYING OIL PROPERTIES |
The Tanzanian government in its second annual budget since embarking on an economic recovery program inspired by the International Monetary Fund announced increases in fuel prices and sales tax and higher levies on government services. Finance Minister Cleopa Msuya said the government expected to spend 77.33 billion sh... | TANZANIA RAISES FUEL PRICES,TAXES IN 1987/8 BUDGET |
Leaseway Transportation Corp said it has completed the previously-announced sale of its Leaseway of Puerto Rico Inc subsidiary to Caguas Central Federal Savings Bank for undisclosed terms. The company said the sale satisfied a condition for its proposed acquisition by an investor group led by Citicorp <CCI>. Reuter | LEASEWAY TRANSPORTATION <LTC>COMPLETES UNIT SALE |
The Brazilian Coffee Institute IBC gave details of its plans to pay the 18 companies that bought 630000 bags of robusta coffee in the London market on its behalf last September. An IBC spokesman told Reuters that a 15 mln dlr loan from the Banco do Brasil would be used to pay five mln dlrs a month in June July and Augu... | IBC DETAILS PLANS TO PAY CREDITORS |
<Magellan Corp> said its shareholders approved the merger of Magellan with <Balzec Investments Inc> a privately held company based in Dallas. Magellan a company without operations that was formed to acquire an operating entity said it plans to engage in the development and marketing of a battery charger product o... | MAGELLAN SETS MERGER WITH BALZAC INVESTMENTS |
A World Bank mission today held talks with a senior Finance Ministry official to discuss Brazils requests for loans ministry officials said. They said Brazil the banks biggest customer was asking for two billion dlrs for the financial year starting in July including 500 mln dlrs for the energy sector. The mission heade... | WORLD BANK MISSION HOLDS LOAN TALKS WITH BRAZIL |
GenCorp said its agreement to sell its RKO Pictures subsidiary to a management group has been terminated because the group could not raise the necessary financing. The company said it will again seek buyers for the unit and its library of over 750 films. Reuter | GENCORP <GY> SAYS RKO UNIT SALE TERMINATED |
Elbit Computers Ltd of Israel said it has received a 6300000 dlr contract from a buyer it did not name for its DASHJ helmet-mounted sight system which allows pilots to aim weapons by looking at targets. The company said deliveries are expected to start in 18 months and be completed 12 months later. Reuter | ELBIT COMPUTERS <ELBTF.O> GETS CONTRACTS |
Rio de Janeiros 3500 dockworkers went on strike for an indefinite period today to demand wage increases a spokesman for the dockers said. The Rio dockers did not get support from their colleagues in Santos Brazils main port but the spokesman said they would not return to work unless their demands were met. Earlier this... | RIO DE JANEIRO DOCKERS STRIKE |
The Federal Trade Commission charged Kraft Inc with false and misleading advertising by overstating the calcuim content of its Kraft Singles cheese product. In an administrative complaint the FTC charged the Glenview Ill. food and consumer products company with claiming that a slice of Kraft Singles American Pasteurize... | FTC CHARGES KRAFT <KRA> WITH FALSE ADVERTISING |
Britains Defence Minister George Younger said the U.S. Was unfairly protecting its defence industry and this could lead to British firms demanding counter-measures. Younger told a U.S. Chamber of Commerce meeting that U.S. Legislators were failing to realise the true nature of the two-way street in terms of ideas techn... | U.S. SAID UNFAIRLY PROTECTING DEFENSE INDUSTRY |
Canada Post said it presented its striking letter carriers with a new contract offer but both sides said there was little indication the offer would end the strike. The crown agency said it is being held back by government restraint policies and has little move to manoeuvre while while the union said it expected the po... | CANADA POST PRESENTS NEW CONTRACT OFFER |
United Building Services Corp said it filed a registration statement with the Securities and Exchange Commission covering a proposed initial public offering of 820000 common shares. Proceeds from the offering will be used to repay debt to develop and market additional specialty construction services and for general cor... | UNITED BUILDING FILES FOR INITIAL OFFERING |
Shr 36 cts vs 28 cts Net 2002000 vs 1518000 Sales 166.0 mln vs 159.5 mln Reuter | GODFREY CO <GDFY.O> 1ST QTR MAY 30 NET |
Qtly div 45 cts vs 45 cts prior Pay October one Record September four Reuter | GENERAL SIGNAL CORP <GSX> SETS QTLY DIVIDEND |
Pinnacle West Capital Corp said its Malapai Resources Co units bought the mineral rights for uranium mining on about 21000 acres in northern Wyoming from Westinghouns Electric Corp <WX>. The property is adjacent to a 34000-acre site the company already owns. Both facilities are at expected to be in full operation in... | PINNACLE WEST CAPITAL <PNW> BUYS MINERAL RIGHTS |
The West Texas cotton crop was largely unscathed by an isolated thunderstorm in that region last night that packed hurricane-force winds crop and weather experts said. There might have been some isolated storms but certainly nothing damaging said Charles Stichler an extension agronomist with the Agricultural Extension ... | WEST TEXAS COTTON CROP UNSCATHED BY STORM |
Mthly div 1.2827 cts vs 3.3974 cts prior Pay July 31 Record June 30 Reuter | MESA OFFSHORE TRUST <MOS> PAYOUT FALLS SHARPLY |
Second quarter ended May 31. Shr 27 cts vs NA Net 3560 mln vs 2389000 Six mths Shr 57 cts vs NA Net 7881000 vs 5415000 NOTE: Year-ago per shr figures not available as bank converted to stock ownership April 29 1986. 1987 2nd quarter and six mth net excludes 2288000 dlrs or 17 cts a share and 4648000 dlrs or 33 cts a sh... | ROCHESTER COMMUNITY SAVINGS BANK <RCSB.O> 2ND |
Lexitech International Documentation Network Inc said it has signed an agreement for Far East affiliate Yamamoto Industries to handle all of Lexitechs Asian language translation and documentation requirements. Reuter | LEXITECH <LEXTC.O> IN AGREEMENT WITH AFFILIATE |
California Credit Card Trust 1987-B a unit of BankAmerica Corps Bank of America subsidiary is offering 300 mln dlrs of certificates backed by credit card receivables said lead manager Salomon Brothers Inc. The certificates were given an 8.20 pct coupon and were priced at 99.89 to yield 8.21 pct or 85 basis points over ... | BANKAMERICA <BAC> UNIT SELLS CREDIT CARD DEBT |
The White House called a compromise budget hammered out by congressional Democratic leaders a pickpocket spending plan but barred negotiations on changing it until budget reforms are in place. Noting that the trillion dollar budget would raise taxes by 65 billion dlrs over the next three years while scaling back Presid... | WHITE HOUSE RAPS DEMOCRATS' BUDGET |
Life Group Inc said it is expanding the activities of its broker/dealer unit Life Planning Inc to include investment banking involving both underwriting and corporate finance. The company said Lawrence Zaslow and Joseph Broder have agreed to join the unit to head those operations and have purchased Life Group stock and... | <LIFE GROUP INC> EXPANDING BROKERAGE UNIT |
Hollinger Inc said it purchased Saturday Night a Canadian general-interest magazine. Financial terms were not disclosed but Hollinger said it has no immediate plans for changes in senior editorial personnel. Saturday Night which publishes features and analyses of current events is celebrating its 100th anniversary and ... | HOLLINGER <HLG.TO> BUYS CANADIAN MAGAZINE |
Triton Group Ltd said John Stiska has resigned as its president. He will be replaced by Triton Chairman Charles Scott. Stiska will return to private law practice and will continue to serve as special counsel to Triton and to Intermark Inc <IMI>. Intermark which owns 41 pct of Tritons common stock took a controlling ... | TRITON GROUP <TRRO.O> PRESIDENT RESIGNS |
Pennwalt corp said it has agreed in principle to acquire a line of fungicides insecticides and herbicidesand related manufacturing facilities from Le Raffineries de Soufre Reunies of Marseilles for undisclosed terms subject to approval by bothe boards and government authorities. The company said the acquired products a... | PENNWALT <PSM> TO MAKE ACQUISITION |
Belgium is to start negotiations with three consortia on sharing out a major order for modernising the countrys telecommunications network a government spokesman said. The three consortia are Bell Telephone Manufacturing Co NV a subsidiary of ITT Corp <ITT> together with Acec SA <ACEC.BR>; Siemens AG <SIEG.F> ... | BELGIUM PLANS MAJOR TELECOMMUNICATIONS ORDER |
Total Energy Resources Inc a wholly owned bysdisiary of French national energy company TOTAL Compagne Francaise des Petroles said it will relocate its offices to Houston from Denver as part of TOTALs plan to expand U.S. operations. Reuter | TOTAL UNIT RELOCATING TO HOUSTON FROM DENVER |
The World Bank said it has extended Pakistan 220 mln dlrs in three loans to support projects in education energy conservation and modernization and small-scale industry development. The education project will be supported by a 145 mln dlr loan through the International Development Association the banks concessionary le... | WORLD BANK LOANS PAKISTAN 220 MLN DLRS |
Ford Motor Credit Co a unit of Ford Motor Co is raising 150 mln dlrs through an offering of notes due 1990 yielding 8.275 pct said sole manager Bear Stearns and Co. The notes have an 8-1/4 pct coupon and were priced at 99.931 to yield 62.5 basis points more than comparable Treasury securities. Non-callable to maturity ... | FORD <F> UNIT SELLS THREE-YEAR NOTES |
Jordan will receive two loans totalling 96.4 mln dlrs to support projects aimed at increasing that countrys electrical production and improving housing in slum and squatter areas the World Bank said. The bank said it is making a 70 mln dlr loan to help fund a 257.8 mln dlr project designed to meet its future power need... | JORDAN GETS 96.4 MLN DLRS IN WORLD BANK LOANS |
A South African trade union is in dispute with a subsidiary of Britains Johnson Matthey Plc over the companys proposal to move a platinum refinery near Johannesburg to a black tribal homeland. The 30000-member mainly black Chemical Workers Industrial Union said it fears the planned move to the Bophuthatswana homeland w... | S. AFRICAN UNION OBJECTS TO PLANNED MATTHEY MOVE |
CANADA 91-DAY T-BILLS AVERAGE 8.34 PCT, MAKING BANK RATE 8.59 PCT | |
REYNOLDS METALS TO RESTART LAST IDLE U.S. ALUMINUM POTLINE | |
A compromise reached between Gulf Canada Corp and debenture holders at the annual meeting today will cost the company or its major shareholder a couple of million dollars chairman Marshall Cohen said. After about a half-hour discussion with debenture holders during the meeting Cohen and Gulf lawyers agreed to compensat... | GULF CANADA <GOC> IN DEAL WITH BONDHOLDERS |
Calton Inc said it will begin building a 242-home community in the Newtown area of Bucks County in Northampton Township Pa sometime between late July and early August. Calton said the community will be named The Homes of Tapestry at Northampton and will be located near Newtown Pa. Calton said it will build two- and thr... | CALTON INC <CN> TO BUILD THREE COMMUNITIES |
Qtly dividend nine cts vs eight cts Pay July six Record June 29 Reuter | <AGF MANAGEMENT LTD> RAISES DIVIDEND |
National Commerce Bancorp said it has agreed to operate or sublicense branch bank facilities in supermarkets in Florida and Virginia Kroger Co supermarkets. It said initially 20 locations will be available in Florida and 10 in Virginia. Reuter | NATIONAL COMMERCE <NCBC.O> IN KROGER <KR> DEAL |
Leader Development Corp said shareholders at the annual meeting approved the acquisition of privately-held Clinton American Corp and two related partnerships for 3450000 common shares with the transaction to be accounted for as a pooling of interests. The company said Clinton president F. Daniel Ryan will become presid... | LEADER DEVELOPMENT <LDCO.O> MERGER APPROVED |
Cheyenne Resources Inc said it purchased interests in four producing oil and gas properties for 2240000 shares of the companys restricted stock. The largest interest was 25 pct of an oil and gas well in Weld County Colo the company said. Cheyenne said it had five pct or less interest in the three other properties. Chey... | CHEYENNE <CHYN.O> BUYS INTERESTS IN PROPERTIES |
Qtly div 45 cts vs 45 cts prior Pay Oct 1 Record Sept 4 Reuter | GENERAL SIGNAL CORP <GSX> SETS DIVIDEND |
Crane Co said it acquired certain assets of Chicago Heater Co Inc a wholly owned subsidiary of the <Marley Co>. The terms of the transaction were not disclosed. Chicago Heater will be intergrated with Cranes Cochrane Environment Systems division the company said. Reuter | CRANE <CR> ACQUIRES ASSETS OF MARLEY UNIT |
The European Community (EC) has increased the size of two special export tenders for British and West German feed wheat held in intervention stores and included South Korea as an acceptable destination traders said. The tender was originally for 120000 tonnes of British and 120000 tonnes of West German feed wheat for s... | EC INCREASES SPECIAL FEED WHEAT TENDERS - TRADE |
The Supreme Court of Cyprus has rejected a plea by an offshore securities trading company against a Central Bank decision to revoke its licence. Central Bank officer Eleftherios Ioannou told Reuters that the court had dismissed the appeal by York International (Cyprus) Ltd registered as an offshore company last October... | CYPRUS REVOKES OFFSHORE COMPANY LICENCE |
Colgate-Palmolive Co said it plans to file with the Securities and Exchange Commission a shelf registration covering up to 300 mln dlrs of unsecured debt securities. Reuben Mark chairman and president of the company told this to a meeting of the New York Society of Security Analysts Colgate-Palmolive said in a release.... | COLGATE-PALMOLIVE <CL> PLANS TO FILE DEBT |
The Tanzanian government in its second annual budget since embarking on an economic recovery program inspired by the International Monetary Fund announced increases in fuel prices and sales tax and higher levies on government services. Finance Minister Cleopa Msuya said regular petrol would go up 52 pct with similar in... | TANZANIA RAISES FUEL PRICES, TAXES IN BUDGET |
General Electric said it signed a 21 mln contract to build a 12.5 megawatt power plant fueled by agricultural waste for El Nido Biomass Power Plant Associates. GE said Pacific Gas and Electric Co will purchase the net electric output of the El Nido Calif. plant which is scheduled for completion in mid-1989. GE said the... | GE <GE> SIGNS CONTRACT ON SMALL POWER PLANT |
Canadas bank rate rose marginally to 8.59 pct from 8.58 pct last week Bank of Canada said. The bank rate is set one-quarter percentage point above the average yield on the weekly issue of 91-day treasury bills. This weeks yield was 8.34 pct compared with the previous weeks 8.33 pct. Tenders were accepted for 2.20 billi... | CANADA BANK RATE RISES TO 8.59 PCT |
North American Biologicals Inc said it has received a 10 mln dlr credit facility from Manufacturers and Traders Trust Co of Buffalo N.Y. It said the new credit would replace an existing 4.4 mln dlr line with Barclays PLC <BCS.L> and due to more favorable interest rates borrowing costs should be significantly reduced... | NORTH AMERICAN <NBIO.O> GETS FINANCING |
Pengo Industries Inc said it has agreed to sell its Wireline Products Manufacturing Division in Fort Worth Texas Wireline Services Division operations in several locations and Pengo International Inc subsidiary to John Wood Group PLC for undisclosed terms. The company said the Wireline Services operations being sold ar... | PENGO <PGO> TO SELL SOME WIRELINE OPERATIONS |
MOODY'S UPGRADES OHIO EDISON'S 2.7 BILLION DLRS OF DEBT | |
The EC Commission cereals management committee rejected all bids for licences to export free market Spanish barley to non-EC countries trade sources said. The licence requests were for 35000 tonnes at between 143 and 145 European Currency Units (ECUs) they said. This tender was part of a special tender for 500000 tonne... | EC REJECTS LICENCES FOR SPANISH BARLEY |
Senate Banking committee chairman William Proxmire D-Wis said no date had been set for Alan Greenspans confirmation hearing as Federal Reserve chairman because the White House had not formally sent his nomination to the Senate. Proxmire said in an interview that as soon as the White House completed its clearence proced... | PROXMIRE SAYS NO DATE SET FOR GREENSPAN HEARING |
Magic Years Child Care and Learning Centers Inc said it signed a letter of intent to acquire three profitable day care centers in south central Pennsylvania for a total price of 350000 dlrs. The three privately owned centers had aggregate revenues of 474000 dlrs in 1986 with profits of six thousand dlrs the company sai... | MAGIC YEARS <KIDS.O> TO ACQUIRE THREE CENTERS |
A trade-led boom in the U.S. is unlikely this year or next because growth in net exports will merely offset a dramatic slowdown in consumer spending and other sectors of the economy Bank of America said in its latest economic report. Although net exports will add 0.7 pct to GNP this year after reducing it by 1.2 pct in... | BANK OF AMERICA SEES SLOW U.S. CONSUMER SPENDING |
Hadron Inc said it has received a two mln dlr two-year contract from Martin Marietta Corp for information and logistical support services to be provided for the U.S. Navys electronic warfare programs. Reuter | HADRON <HDRN.O> GETS MARTIN MARIETTA <ML> PACT |
Everex Systems Inc said it has filed with the Securities and Exchange Commission to make an initial public offering of 5950000 shares of its common stock. Of the shares to be sold 4950000 wil be offered in the U.S. of which three mln will be issued and sold by the company and the balance will be sold by certain shareho... | EVEREX SYSTEMS FILES INITIAL PUBLIC OFFER |
World Bank said it has loaned Portugal 50 mln dlrs to help improve its highway system. The bank loan is part of a 400.4 mln dlr three-year government financed project to rehabilitate or improve about 3410 miles of highway the bank said. It also said the project hopes to increase road safety by improving signs aiding en... | WORLD BANK LOANS PORTUGAL 50 MLN DLRS |
Vsevolod Murakhovsky head of the Soviet Agriculture Ministry observed trading this morning at the Winnipeg Commodity Exchange an exchange spokesman said. Murakhovsky led a delegation of 17 Soviet visitors to the exchange as part of a current cross-Canada tour. The party included Phylipp Popov a member of the Supreme So... | SOVIET AGRICULTURE MINISTER IN WINNIPEG VISIT |
Opto Mechanik Inc a designer and manufacturer of military optical and electro-optical systems said it received 7.2 mln in contracts from domestic and foreign customers. Opto Mechanik said the series of contracts included a 3.8 mln dlr contract from the U.S. Army Missle Command to produce the sight used to guide the TOW... | OPTO MECHANIK <OPTO.O> GETS 7.2 MLN IN CONTRACTS |
Brooklyn Union Gas Co a New York gas utility will see its gas costs up sharply as a result of Transco Energy Cos <E> decision to close its pipelines to transport spot gas sales energy industry analysts said. Brooklyn Union the fourth largest gas utility in the United States purchased 36 pct of its supplies on the sp... | BROOKLYN UNION<BU> SEEN HURT BY PIPELINE CLOSURE |
Moodys Investors Service Inc said it upgraded Ohio Edison Cos 2.7 billion dlrs of debt securities. Raised to Baa-2 from Baa-3 were the utilitys first mortgage bonds preferred stock and secured pollution control issues and the guaranteed Euronotes of Ohio Edison Finance NV. Moodys upgraded Ohio Edisons unsecured issues ... | OHIO EDISON <OEC> UPGRADED BY MOODY'S |
Qtly div 18 cts vs 15 cts prior Pay July 30 Record July 10 Reuter | BIC CORP <BIC> RAISES QUARTERLY |
Reynolds Metals co said it plans to restart the last idle potuction line at its Troutdale Ore. primary aluminum plant. With the restart of this 22700-metric-tonne-per-year line Reynolds said it will be operating at 100 pct of its consolidated primary aluminum capacity of 695000 tonnes per year. Reynolds said work will ... | REYNOLDS METALS <RLM> TO RESTART IDLE POTLINE |
<CBC Bancorp Inc> said it will be acquired by the Memphis-based Union Planters Corp <UPCM.O> in a merger agreement. Details were not disclosed. CBC which is the holding company which owns Cookevilles Citizens Bank said it has signed an agreement which would merge CBC with Union which has 2.2 billion dlrs in asset... | CBC BANCORP TO BE ACQUIRED BY UNION PLANTERS |
TIE/Communications Inc said it has renewed agreements to sell its GTE Corp <GTE> Bell Atlantic Corp <BEL> NYNEX Corp <NYN> and US West Inc <USW> for two years. The company is providing small to mid-siezed key telephone systems to GTE and key systems hybrids and DATA STAR PABX systems to the others. Reuter | TIE/COMMUNICATIONS <TIE> RENEWS AGREEMENTS |
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