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Treasury Secretary James Baker expressed doubts about a proposal to tax securities transactions as a solution to the budget deficit and said it could hurt financial markets. If you start taxing markets it could impair their efficiency Baker said after a speech to the National Newspaper Association. The problem is not t... | BAKER EXPRESSES DOUBTS ABOUT U.S. STOCK TAX |
Reuters Holdings PLCs Reuters Information Services Inc subsidiary and Real Estate Financing Partnership of Philadelphia said they have developed RSVP an electronic market access system for commercial property financing. The companies said the system on completion of testing will use the Reuter communications network to... | REUTERS <RTRSY> IN PROPERTY FINANCE SYSTEM |
SALLIE MAE SAYS IT WILL PRICE 300 MLN DLR FLOATING RATE NOTE OFFER MONDAY | |
The Venezuelan government is close to agreement with foreign banks to refinance 300 mln dlrs in foreign debt owed by the Banco de los Trabajadores de Venezuela (BTV) finance minister Manuel Azpurua said. He told reporters Bankers Trust which heads the BTVs bank committee is consulting other creditors on an eight year r... | REFINANCING SAID CLOSE FOR VENEZUELAN BANK |
The U.S. Treasury said it will sell 9.5 billion dlrs of one-year bills at auction. The March 12 sale will raise 275 mln dlrs of new cash by refunding about 9.23 billion dlrs of maturing bills. The bills will be issued March 19 in minimum amounts of 10000 dlrs and mature March 17 1988. Reuter | U.S. SETS 9.5 BILLION DLR YEAR-BILL AUCTION |
New Jersey Resources corp said it has filed for an offering of 1300000 common shares through underwriters led by Merrill Lynch and Co Inc <MER> and E.F. Hutton Group Inc <EFH>. It said the offering is expected to be completed in late March or early April and proceeds will be used to reduce short-term debt. Reuter | NEW JERSEY RESOURCES <NJR> TO OFFER SHARES |
Den Danske Bank of Denmark is raising 200 mln dlrs through a programme of short and medium term euro-certificates of deposit arranger London-based Salomon Brothers International Ltd said in a statement received here. Signing takes place today and the first issuance of maturities from seven days to five years should tak... | DEN DANSKE LAUNCHES 200 MLN DLR EURO-CD PROGRAMME |
Oper shr profit 18 cts vs loss four cts Oper net profit 1847000 vs loss 282000 Revs 25.9 mln dlrs vs 8626000 drs 12 mths Oper shr profit 39 cts vs loss 24 cts Oper net profit 3262000 vs loss 1555000 revs 67.5 mln vs 27.9 mln dlrs. NOTE: 1986 qtr and year excludes investment gains of 1541000 and 1865000 respectively and... | TRENWICK GROUP INC <TREN> 4TH QTR NET |
The Belgian government which introduced large-scale public spending reductions last year has been told by an International Monetary Fund team there is scope for further cuts in 1988. The suggestion is contained in the preliminary conclusions of the annual IMF consultations with Belgium on its economic policy a copy of ... | IMF URGES BELGIUM TO MAKE FURTHER SPENDING CUTS |
General Public Utilities Corp said the New Jersey Board of Public Utilities has approved a 72 mln dlrs annual reduction in energy-adjustment charges for the companys Jersey Central Power and Light Co subsidiary. The change in the utilitys Levelized Energy Adjustment Charge represents a five pct decrease in overall elec... | NEW JERSEY APPROVES GPU <GPU> UNIT'S RATE CUT |
Bush Industries Inc said that after an audit it has revised upwards its 1986 fourth quarter and year end results. On February 12 it reported unaudited results. Under the audited amounts 1986 fourth quarter income was 1098978 mln dlrs or 55 cts a share. The unaudited income for the period was 1014000 or 51 cts per share... | BUSH <BSH> REVISES 4TH QTR, YEAR RESULTS UP |
Moodys Investors Service Inc said it lowered the ratings on about 489 mln dlrs of debt of MCorp and its subsidiaries. Moodys said the change reflects the effect that the companys difficult operating environment will have on its asset quality core earnings and equity base. It said the firms asset quality problems are co... | MCORP <M> AND UNITS' DEBT DOWNGRADED BY MOODY'S |
Medi-Rx America Inc said its Rx Plus Inc subsidiary received a letter of intent for a proposed initial public offering of four mln dlrs to six mln dlrs. It also said the subisidary formed to franchise retail drug stores recently placed a 1.2 mln dlrs equity offering with private investors and secured a one mln dlrs lin... | MEDI-RX UNIT IN PROPOSED INITIAL OFFERING |
Universal Furniture Ltd said in a filing with the Securities and Exchange Commission that it had increased its stake in Bench Craft Inc common stock to 2548975 shares or 45.3 pct of the total outstanding. Universal said its Universal Furniture Industries N.V. unit bought 235750 Bench Craft shares March 4 in the over-th... | FURNITURE (UFURF) UPS BENCH CRAFT (SOFA) STAKE |
American Airlines Inc owned by AMR Corp said its load factor for February dropped to 60.2 pct from 64.0 pct a year ago. It said revenue passenger miles for the month increased 5.9 pct to 3.66 billion from 3.45 billion a year ago. Available seat miles rose 12.7 pct ot 6.08 billion from 5.40 billion and passenger boardin... | AMERICAN AIRLINES <AMR> LOAD FACTOR DECLINES |
Valero Energy Corp <VLO> said it knows of no reason for its stock activity today. The stock rose 1-5/8 to 10-7/8 a gain of about 17.5 pct. A spokesman for Valero Steve Fry said the company knows of no reason for the increased volume and sharp gain in the stock. Reuter | VALERO ENERGY KNOWS OF NO REASON FOR STOCK GAIN |
Moodys Investors Service Inc said it may downgrade Service Merchandise Cos 300 mln dlrs of Ba-2 senior subordinated notes. The rating agency said it had anticipated that Service Merchandise would be able to achieve better operating results than it actually did in fiscal 1986. Moodys said it would assess future prospect... | MOODY'S MAY DOWNGRADE SERVICE MERCHANDISE <SMCH> |
Oper net loss 411000 vs profit 875000 Sales 69.7 mln vs 70.5 mln Year Oper net profit 6258000 vs profit 4785000 Sales 299.5 mln vs 297.2 mln Note: Company made initial public offering in June 1986. Assuming the offering had occurred on Jan. 1 1986 operating net income per share would have been 85 cts a share for 1986. ... | CLEVITE INDUSTRIES INC <CLEV> 4TH QTR OPER LOSS |
NEC Electronics Inc a unit of NEC Corp <NIPNY> said a U.S. District Court judge denied NECs motion to disqualify Judge William Ingram from presiding over its lawsuit against Intel Corp <INTC>. NEC said it sought to disqualify the judge when it learned in October 1986 that Ingram had an ownership interest in an in... | BID TO DISMISS JUDGE IN COPYRIGHT CASE DENIED |
<CMS Advertising Inc> said its board has approved a three-for-two stock split in the form of a dividend payable March 30 to holders of record March 16. The company said a similar split was paid December eight leaving it with 2344200 shares outstanding. CMS Advertising said the next split will result in a proportiona... | CMS ADVERTISING SETS 3-FOR-2 STOCK SPLIT |
AMAX Inc said it has accepted offers to buy its share and option interests in <Australian Consolidated Minerals Ltd>. AMAX said the sale is part of its ongoing program to increase shareholder value. The company did not identify who made the offer but said the interests involved include 35.2 mln Australian Consolidat... | AMAX <AMX> ACCEPTS OFFER FOR AUSTRALIAN INTEREST |
Parent company net profit 385 mln francs vs 226.9 mln Dividend five francs vs no comparison Note - The financial and banking group was privatised by the government in January this year. Reuter | CIE FINANCIERE DE PARIBAS <PARI.PA> 1986 YEAR |
 CORRECTION - HEINEKEN 1986 YEAR In item headlined HEINEKEN N.V. <HEIN.AS> 1986 YEAR please read in first line pre-tax profit 513.2 mln guilders vs 454.5 mln. Corrects year ago comparison to 454.5 mln from 545.5 mln. Reuter  | |
Food Lion Inc said its sales totaled 207.5 mln dlrs last month up 26.0 pct from the 164.7 mln dlrs reported for February 1986. The company said sales for the first eight weeks of the year were up 26.1 pct to 411.1 mln dlrs from 326.0 mln dlrs. The company operates 396 supermarkets in six southeastern states. Reuter | FOOD LION <FDLNB> FEBRUARY SALES UP 26 PCT |
This weeks Bank of England resistance to strong market pressure for lower interest rates succeeded in holding bank base rates at 11 pct. But at a cost of threatening the Chancellor of the Exchequer Nigel Lawsons policy stated at the end of the Paris Group of Six meeting last month that he wanted to see sterling broadly... | BANK OF ENGLAND PRESSURE HOLDS BASE RATES |
SHULTZ AND SHEVARNADZE TO MEET IN MOSCOW IN MID-APRIL, U.S. SOURCES SAY | |
U.S. Agriculture Secretary Richard Lyng said he is very disappointed by a Canadian government finding that U.S. corn has injured Ontario Corn growers. This action is not helpful in the context of the ongoing U.S.-Canada free trade talks or in the new round of multilateral trade negotiations Lyng said in a statement. Th... | LYNG DISAPPOINTED BY CANADA CORN INJURY DECISION |
Bancroft Convertible Fund Inc the target of an unfriendly cash offer by <Zico Investment Holdings Inc> said its shareholders approved proposals requiring a 66-2/3 pct affirmative vote of all outstanding shares before fundamental changes in its status could be made. Previously only a simple majority of outstanding sh... | BANCROFT <BCV> SHAREHOLDERS REBUKE ZICO OFFER |
International Totalizator Systems Inc Vice President of Finance Joel Graff said he expects to report an improved first quarter compared to the 377000 dlr loss reported in the year ago quarter. A profit looks quite favorable Graff said. Last week the automated ticket systems supplier reported a loss of 1.2 mln dlrs for ... | INT'L TOTALIZATOR <ITSI> SEES BETTER 1ST QTR |
Chief Soviet arms negotiator Yuli Vorontsov said Soviet-American talks on cutting medium-range nuclear missiles had made a breakthrough. Vorontsov said he expected a treaty would be ready for signing within three to four months following the latest talks in Geneva. He told a news conference here all the elements point ... | SOVIET NEGOTIATOR REPORTS ARMS TALKS BREAKTHROUGH |
The world trade body GATT said its negotiators in Geneva are discussing a possible agreement for a ceiling on agricultural subsidies. GATT director-general for agriculture Jean-Marc Lucq told reporters here that the talks had not got anywhere yet as the participants were still reluctant to lay all their cards on the ta... | GATT STUDYING AGRICULTURAL SUBSIDIES CEILING |
Walker Energy Partners said restructuring of the partnership is being negotiated with <Tipperary Corp> which is considering a capital infusion into the partnership. Walker Energy said Tipperarys investment will be conditioned upon restructuring of the partnerships debt. Walker Energy said it and Tipperary are negoti... | TIPPERARY NEGOTIATING WALKER <WEP> INVESTMENT |
Secretary of State George Shultz and Soviet Foreign Minister Eduard Shevardnaze will meet in Moscow in mid-April administration sources said. The sources said they will meet April 13 to 16 and are expected to discuss the full range of U.S.-Soviet issues. But arms control is expected to be the major focus of the talks w... | SHULTZ, SHEVARDNADZE SAID TO MEET IN APRIL |
Chief Soviet arms negotiator Yuli Vorontsov said Soviet-American talks on cutting medium-range nuclear missiles had made a breakthrough. Vorontsov said he expected a treaty would be ready for signing within three to four months following the latest talks in Geneva. He told a news conference here all the elements point ... | SOVIET NEGOTIATOR REPORTS ARMS TALKS BREAKTHROUGH |
Outboard Marine Corps top executives are making sales presentations to portfolio managers and analysts ahead of a planned two mln share offering expected soon company officials said. Chairman Charles Strang and Wayne Jones vice president for strategic planning are meeting with portfolio managers in New York and Boston ... | OUTBOARD MARINE <OM> OFFICIALS HAWKING STOCK |
Hadson Corp said it intends to file a registration with the Securities and Exchange Commission within one week covering an offering of 3750000 common shares. The company had 14260000 shares outstanding on December 31 and 75.0 mln shares authorized. It said proceeds of the offering are intended to be used to finance exp... | HADSON <HADS> PLANS 3,750,000 SHARE OFFERING |
<BOC Group Inc>s Airco Distributor Gases finalized the sale of its Virginia-based gas appaturs business to <Controls Corp of America> a newly formed investment group organized by former Airco employees. Under the terms of the sale Airco said Controls will continue to make the gas apparaturs product line under the... | BOC GROUP COMPLETES SALE OF UNIT TO CONTROLS |
New Jersey Resources Corp said it filed with the Securities and Exchange Commission to offer 1.3 mln common shares through managing underwriters Merrill Lynch Capital Markets and E.F. Hutton and Co. The utility holding company said the offering should be completed in late March or early April. Net proceeds will be used... | NEW JERSEY RESOURCES <NJR> FILES TO OFFER STOCK |
The central bank recommended a major change in the traditional ownership structure of Swedish commercial banks that bankers said would inevitably lead to the takeover of remaining small regional banks. The recommendation was prompted by a recent proposal by the <Proventus> financial group to create a new holding com... | BANKERS PREDICT SHAKEOUT IN SWEDISH BANKING SYSTEM |
McDonnell Douglas said it will open a regional office in New York occupying 38366 square feet in midtown Manhattan. It said the office will bring together about 100 employees in its Information Systems Group who currently work at three separate New York offices. The group had 1986 sales of 1.2 billion dlrs. McDonnell s... | MCDONNELL <DM> OPENS REGIONAL N.Y. OFFICE |
The U.S. National Association of Wheat Growers (NAWG) urged the Reagan administration offer the Soviet Union wheat under the export enhancement program (eep). In a letter to Agriculture Secretary Richard Lyng NAWG stated its strong support for an eep offer to Moscow. We believe that a solid case continues to exist for ... | U.S. WHEAT GROWERS WANT EEP TO SOVIET UNION |
Algemene Bank Nederland N.V. <ABNN.AS> chairman Robertus Hazelhoff said the banks 10.3 pct increase in net 1986 profit to 527 mln guilders from 478 mln in 1985 was encouraging in view of the sharply lower dollar. Hazelhoff speaking at a press conference after the release of ABNs 1986 results said a sharp decrease in... | ABN SAYS PROFIT RISE ENCOURAGING IN VIEW DOLLAR |
CANADIAN MONEY SUPPLY M-1 RISES 217 MLN DLRS IN WEEK, BANK OF CANADA SAID | |
Canadian narrowly-defined money supply M-1 rose 217 mln dlrs to 32.80 billion dlrs in week ended February 25 Bank of Canada said. M-1-A which is M-1 plus daily interest chequable and non-personal deposits rose 556 mln dlrs to 75.19 billion dlrs and M-2 which is M-1-A plus other notice and personal fixed-term deposit ro... | CANADIAN MONEY SUPPLY RISES IN WEEK |
Rochester Gas and Electric Co said it now estimates Unit Two of the Nine Mile nuclear power plant will not start commercial operation until 1988s first quarter. The utility said this estimate is based on the Nuclear Regulatory Commissions advisory to the plants operator Niagara Mohawk Power Corp <NMK> a more through... | ROCHESTER GAS <RGS> SEES FURTHER NUCLEAR DELAYS |
The government plans to go ahead with a three billion franc package to help the long-term unemployed with the aim of guaranteeing social security payments to everyone becoming redundant government officials said. At present only about one-third of the countrys 2.6 mln jobless corresponding to 10.9 pct of the workforce ... | FRENCH GOVERNMENT TO STEP UP AID TO JOBLESS |
The Reagan administration continues to debate whether to offer subsidized wheat to the Soviet Union but would need assurances from the Soviets that they would buy the wheat before the subsidy offer would be made a senior U.S. Agriculture Department official said. I think it still is under active debate whether or not i... | USSR WHEAT BONUS OFFER SAID STILL UNDER DEBATE |
Oper shr profit nine cts vs loss seven cts Oper net profit 628000 vs loss 491000 Sales 50.7 mln vs 41.8 mln Avg shrs 7033000 vs 6557000 Note: Oper net excludes extraordinary profit of 423000 dlrs or six cts a shr and 110000 dlrs or one ct a share respectively in 1987 and 1986 quarters from utilization of tax loss carry... | SUN ELECTRIC CORP <SE> 1ST QTR JAN 31 OPER NET |
U.S. trade representative Clayton Yeutter said Canadas finding announced today that U.S. corn imports injure Canadian farmers is totally unjustified. U.S. corn exports to Canada are so small that it is inconceivable that they injure Canadian corn farmers by any reasonable measure Yeutter said in a statement. He said if... | CANADA CORN DECISION UNJUSTIFIED - YEUTTER |
Oper shr two cts vs eight cts Oper net 41000 vs 153000 Sales 7456000 vs 7965000 Year Oper shr 22 cts vs 50 cts Oper net 434000 vs 1103000 Sales 31 mln vs 33.6 mln Note: Current qtr and year figures exclude loss from discontinued operations of 384000 dlrs or 20 cts per share. Prior qtr and year figures exclude losses fr... | CETEC CORP <CEC> 4TH QTR NET |
Shr 18 cts vs 39 cts Net 507000 vs 762000 Sales 11.3 mln vs 11.7 mln Avg shrs 2789000 vs 1961000 Nine mths Shr 39 cts vs 90 cts Net 1076000 vs 1752000 Sales 32.9 mln vs 33.3 mln Avg shrs 2771000 vs 1955000 Reuter | RICHTON INTERNATIONAL CORP <RIHL> 3RD QTR JAN 31 |
Shr 18 cts vs 19 cts Net 400413 vs 421451 Revs 9343228 vs 8213449 Nine mths Shr 39 cts vs 46 cts Net 853891 vs 1011999 Revs 24.6 mln vs 22.3 mln Reuter | VALTEK INC <VALT> 3RD QTR JAN 31 NET |
Moet-Hennessy <MHSP.PA> is issuing an 800 mln French franc 10-year eurobond with share warrants lead-manager Lazard Freres et Cie said. The issue will be priced at par with a one pct coupon and each 10000 franc bond will carry 18 warrants each giving the right to subscribe to Moet-Hennessy shares over a three-year p... | MOET-HENNESSY ISSUING CONVERTIBLE EUROBOND |
Shr loss 30 cts vs profit 11 cts Net loss 1247000 vs profit 454000 Revs 12.3 mln vs 17.5 mln Year Shr loss 24 cts vs profit 32 cts Net loss 979000 vs profit 1303000 Revs 60.6 mln vs 61.7 mln Reuter | THE WRITER CORP <WRTC> 4TH QTR LOSS |
WHITE HOUSE SAYS SHULTZ TO VISIT MOSCOW APRIL 13-16 | |
Dec 31 Shr loss one ct Net loss 176639 Revs 150300 NOTE: Company went public in April 1986. Reuter | ROCKY MOUNTAIN MEDICAL CORP <RMEDU> 1ST QTR LOSS |
Shr 91 cts vs 1.25 dlrs Net 8710000 vs 11.7 mln Avg shrs 9526287 vs 9362379 NOTE: Share adjusted for 10 pct stock dividend in May 1986. Net includes loan loss provisions of 12.7 mln dlrs vs 2400000 dlrs. Reuter | FIRST AMERICAN BANK AND TRUST <FIAMA> YEAR NET |
Standard and Poors Corp said it expects downgrades of corporate debt ratings to ease this year from the lofty levels of 1986 and 1985. However the rating agency said upgrades will probably stay at about the same level as in the past few years. The narrowing of the gap between downgrades and upgrades would reflect a cal... | S/P SAYS CORPORATE DOWNGRADES MAY EASE THIS YEAR |
Nicaraguan rebel leader Adolfo Calero has for the first time linked payments received for his forces to a dummy company controlled by former White House aide Oliver North legal sources said. The company Lake Resources Inc was established by North and his ally retired Air Force major General Richard Secord and had a Swi... | CONTRA LEADER LINKS MYSTERY DLRS TO ARMS SALE |
India has called a fresh buying tender for up to four 13000 tonne cargoes of white sugar on March 11 traders here said. The tender calls for one cargo of prompt sugar and two to three with March/April shipment sugar or the same as the eight cargoes bought at a tender two days ago. That tender originally only sought two... | INDIA AGAIN IN MARKET FOR SUGAR - TRADE |
Shr profit nil vs loss nil Net profit 28565 vs loss 204553 Revs 507529 vs 6563 Nine mths Shr loss nil vs loss nil Net loss 404011 vs loss 649495 Revs 938345 vs 32535 Reuter | <WARRANTECH CORP> 3RD QTR DEC 31 NET |
The Pioneer Group Inc said its 70 pct-owned Teberebie Goldfields Ltd venture has been granted an additional concession of land in Ghana to look for and mine gold. The State Gold Mining Corp of Ghana granted the venture an additional 14.5 square kilometers in Teberebie Ghana contiguous to 11.5 square kilometers granted ... | PIONEER GROUP <PIOG> UNIT GETS MORE LAND |
Insituform Group Ltd of Guernsey Channel Islands said it has exercised an option to convert a 250000 stg loan to affiliate Insituform Permaline Ltd to common shares raising its stake in the unit to 75 pct from 50 pct. The remainder is held by Permalines management and an investment group. Insituform also said James Col... | INSITUFORM <IGLSF> RAISES STAKE IN UNIT |
The worlds major copper producing and consuming countries have reached a degree of consensus on objectives and functions of a future study group aimed at reviewing the world copper market officials said. Governments represented at a meeting to consider a proposed forum for copper have recommended that another session b... | COPPER MEETING AGREES GOALS OF STUDY GROUP |
Total futures and options turnover on the London International Financial Futures Exchange (LIFFE) fell slightly during February although daily average Eurodollar volume set a new record LIFFE said today. Total futures and options turnover last month was 822378 contracts down from Januarys 881778 but sharply above the c... | LIFFE FEBRUARY VOLUMES DOWN, BUT EURODOLLARS UP |
President Reagan announced he is sending Secretary of State George Shultz to Moscow for talks with Foreign Minister Eduard Shevardnadze next month. Arms control is expected to be the major topic. The announcement said the talks will take place April 13-16 and would review the entirety of our relationship. Reuter | PRESIDENT SAYS SHULTZ TO HEAD FOR MOSCOW TALKS |
Colombian oil installations were not damaged by an earthquake which shook Ecuador and southern Colombia last night and there are no plans to suspend exports a spokesman for the state-run oil company Ecopetrol said. He said no damage was reported unlike in Ecuador where indefinite force majeure was declared on crude exp... | COLOMBIAN OIL EXPORTS NOT AFFECTED BY QUAKE |
Chicago Milwaukee Corp said it welcomed an investment by Shearson Lehman Brothers Inc in its company. Yesterday Shearson Lehman a subsidiary of American Express Co (AXP) disclosed in a Securities and Exchange Commission filing that it holds a 5.35 pct interest in Chicago Milwaukee. Chicago Milwaukees stock edged up 2-1... | CHICAGO MILWAUKEE <CHG> GREETS SHEARSON STAKE |
Dauphin Deposit Corp said it has signed a letter of intent to acquire Colonial Bancorp Inc of New Holland Pa. in an exchange of 3.6 to 4.4 Dauphin shares for each colonial share depending on the market value of Dauphin shares just before the merger takes place. The company said the acquisition is subject to approval by... | DAUPHIN DEPOSIT <DAPN> TO MAKE ACQUISITION |
UNC Inc said its board has approved a change in state of incorporation to Delaware from Virginia subject to approval by shareholders at the April 24 annual meeting. It said it expects to make the change around April 30. Reuter | UNC <UNC> TO CHANGE STATE OF INCORPORATION |
Qtly div 27-1/2 cts vs 27-1/2 cts prior Pay May One Record April 17 Reuter | VAN DORN CO <VDC> SETS QUARTERLY |
Qtly div 10 cts vs 10 cts prior Pay March 31 Record March 16 Reuter | M.D.C. HOLDINGS INC <MDC> SETS QUARTERLY |
Qtly div 42 cts vs 42 cts prior Pay April Seven Record March 20 Reuter | CHUBB CORP <CB> SETS QUARTERLY |
Mellon Bank Corp is raising 150 mln dlrs via an offering of deposit notes due 1992 with a 7.45 pct coupon and par pricing said sole manager First Boston Corp. That is 73 basis points more than the yield of comparable Treasury securities. The issue has a one-time call after three years First Boston detailed. If Mellon d... | MELLON BANK <MEL> SELLS FIVE-YEAR DEPOSIT NOTES |
U.S. crude oil prices rose above 18 dlrs a barrel this week and industry analysts said the price could rise another dollar as inventories fall. OPEC is keeping its production down and in the cash market there is tight supply of crude with short transportation time to major refining centers said Daniel McKinley oil anal... | CRUDE OIL PRICES UP AS STOCKS, OUTPUT FALL |
The attempt by International Paper Co <IP> and Stone Container Co <STO> to raise linerboard prices could stick industry analysts said citing strong demand and tight capacity. But they said rising inventories hurt the odds. It remains to be seen whether the increases will be accepted but I think the odds are bette... | TALKING POINT/ PAPER STOCKS |
The Minneapolis Grain Exchange (MGE) will start trading futures contracts in high fructose corn syrup on April 6 if the Commodity Futures Trading Commission (CFTC) approves the contract as expected next week. Pat Henderson spokesperson for the MGE said the exchange expects contract approval at CFTCs Tuesday meeting. It... | MGE PLANNING APRIL 6 START UP OF HFCS CONTRACT |
Concorde Capital Ltd Inc said it has signed an agreement to establish a minimum of 40 Heidis Frozen Yogurt Shoppes in South Florida over the next 48 months. It said it signed the agreement with <Zenith Capital Inc> which received 3890000 Concorde shares or a 10 pct interest for the exclusive franchise rights from Or... | <CONCORDE CAPITAL LTD INC> IN FRANCHISE PACT |
Qtly div four cts vs four cts prior Pay March 31 Record March 20 NOTE: First Federal Savings and Loan Association of Brooksville. Reuter | FIRST FEDERAL BROOKSVILLE <FFBV> SETS QUARTERLY |
Energy Ventures Inc said it formed a new subsidiary EVI Inc that will seek to fund growth of and offer financial services to oil service and equipment companies. The new unit is majority owned by Energy Ventures. Simmons and Co Finance an affiliate of Houston-based Simmons and Co International is minority shareholder. ... | ENERGY VENTURES <ENGY> FORMS NEW ENERGY UNIT |
Qtly div 30 cts vs 30 cts in prior qtr Payable May 25 Record May one Reuter | ALUMINUM CO OF AMERICA <AA> REGULAR DIVIDEND |
Technigen Platinum corp said it initial results of a 13-hole drilling program on its R.M. Nicel platinum property in Rouyn-Noranda Quebec indicate extensive near-surface zones highly enriched in gold platinum and palladium were found in rocks on the periphery of a sulphide deposit. It said values of up to 0.073 ounce o... | <TECHNIGEN PLATINUM CORP> IN METALS FIND |
Telecom Plus International Inc said <Siemens AG>s Siemens Information Systems wants to amend its agreement to purchase Telecoms 65 pct interest in Tel Plus Communications to delay payment of 25 mln dlrs for 11 months. Telecoms shareholders are scheduled to vote on the 165 mln dlr transaction Monday. Telecom said it ... | SIEMENS WANTS TO AMEND TELECOM PLUS <TELE> PACT |
LUCKY STORES SAYS IT AND INVESTOR EDELMAN REACHED STANDSTILL AGREEMENT | |
The Pioneer Group Inc said its 70 pct-owned Teberebie Goldfields Ltd venture was granted an additional concession of land in Ghana to seek and mine gold. The State Gold Mining Corp of Ghana granted the venture an additional 14.5 square kilometers in Teberebie Ghana contiguous to 11.5 square kilometers granted earlier. ... | PIONEER GROUP UNIT GETS MORE GHANA GOLD LAND |
A counter-proposal from creditor banks to Argentinas request for rescheduling its 50 billion dlr foreign debt was faulty an Argentine observer at negotiations said. The negotiations are not going to prosper if (the creditor banks) do not change the counter-proposal put to Argentina as it is a Swiss cheese full of holes... | DEBT PROPOSAL FAULTED BY ARGENTINE OBSERVER |
Qtly div 29-1/2 cts vs 29-1/2 cts prior Pay April 15 Record March 27 Reuter | INTERNATIONAL MULTIFOODS CORP <IMC> DIVIDEND |
International Business Machines Corp said it has named James A. Cannavino president of its Data Systems Division succeeding IBM vice president Edward M. Davis who is retiring June 30 and until then will be IBM vice president technology competitiveness. The Data Systems Division is responsible for worldwide development ... | IBM <IBM> NAMES NEW PRESIDENT FOR DIVISION |
Shr profit four cts vs loss 99 cts Net profit 545000 vs loss 13.1 mln Revs 75.3 mln vs 37.9 mln Avg shrs 14.8 mln vs 13.1 mln Year Shr profit 34 cts vs profit 34 cts Net profit 4908000 vs profit 4487000 Revs 216.8 mln vs 117.7 mln Avg shrs 14.6 mln vs 13.1 mln NOTE: 1985 net included gain on sale of foreign properties ... | HADSON CORP <HADS> 4TH QTR NET |
Finance Minister Dilson Funaro currently on a global tour to seek governmental support for his efforts to solve Brazils 108 billion dlrs foreign debt crisis said creditors have expressed willingness to help. In an interview with the Globo television network transmitted from Rome Funaro said he had proposed a four-year ... | FUNARO SAYS CREDITORS WILLING TO HELP BRAZIL |
Lucky Stores Inc said it and investor Asher Edelman agreed on a settlement that prohibits Edelman and his group from taking specified actions to obtain control of the company and that limits the Edelman groups ownership of Luckys stock to less than five pct of any voting securities. The arrangement also provides for th... | LUCKY STORES <LKS>, EDELMAN IN STANDSTILL PACT |
American Telephone and Telegraph Cos proposal to deregulate its long distance phone service is unlikely to produce a radical change in phone rates but it should help the companys profits analysts said. Deregulation will mean more pricing discounts for large volume users but status quo for residential users said PaineWe... | ATT <T> PHONE PROPOSAL TO HELP PROFITS |
The Chicago Mercantile Exchange (CME) board of governors announced today the options on Random Length lumber futures will begin trading on May 29. The contract received Commodity Futures Trading Commission (CFTC) approval on January 21 after being submitted for review last October 13. Initially only January March and M... | CME SETS MAY 29 START FOR LUMBER FUTURES OPTIONS |
TWA CONFIRMS OWNERSHIP OF 15 PCT OF USAIR GROUP | |
The Navy last month grounded half of its A-6E attack jets for wing inspections after a California accident but has since returned half of the grounded planes to service a Navy spokesman said. Kevin Mukri said 186 of the Navys 340 A-6E aircraft built by Grumman Corp were grounded on Feb. 20 after a Jan. 14 A-6E crash du... | U.S. NAVY GROUNDS SOME A-6 ATTACK JETS |
The House and Senate committees investigating the Iran arms scandal said they would like to review tapes of phone conversations between President Reagan and White House officials if such tapes exist. The committees were responding to a magazine article that quoted unidentified sources with first-hand knowledge of U.S. ... | IRAN INVESTIGATORS SEEK REAGAN TAPES |
Struthers Wells Corp said it expects to report a loss without tax benefit of about 16 mln dlrs for the fiscal year ended November 30 1986 versus a profit of 295000 dlrs in fiscal 1985. The company added however that about 13.6 mln dlrs of the loss relates to discontinued operations and disposal of subsidiaries. The com... | STRUTHERS WELLS <SUW> SEES 1986 NOV 30 LOSS |
SOROS GROUP TELLS SEC IT MAY BUY UP TO 49.9 PCT OF FAIRCHILD INDUSTRIES | |
Trans World Airlines Inc said it owns more than four mln USAir Group shares or about 15 pct of the total outstanding. TWA said it may acquire additional shares in the open market in private transactions through a tender offer or otherwise subject to Department of Transportation approval. TWA has offered 52 dlrs per sha... | TWA <TWA> CONFIRMS OWNERSHIP OF USAIR <U> STOCK |
Silver State Mining Corp said it has corrected its 1986 fourth quarter net income to 485380 dlrs from 528790 dlrs reported earlier today. The company earned 286969 dlrs in last years fourth quarter. Reuter | SILVER STATE MINING <SSMC> CORRECTS NET |
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