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senate majority leader george mitchell d. maine said yesterday on <unk> 's meet the press that mr. ortega 's threat was a very <unk> move particularly the timing of it |
the threat came during a two-day celebration in costa rica to highlight central america 's progress toward democracy in the region attended by president bush canadian prime minister brian <unk> and N other western <unk> leaders |
mr. bush returned to washington saturday night |
mr. ortega announced on friday that he would end the cease-fire this week in response to the periodic contra <unk> against his army |
saturday he amended his remarks to say that he would continue to <unk> by the cease-fire if the u.s. ends its financial support for the contras |
he asked that the remaining u.s. humanitarian aid be diverted to <unk> and <unk> the rebels |
not only did mr. ortega 's comments come in the midst of what was intended as a <unk> for the region it came as nicaragua is under special international scrutiny in anticipation of its planned february elections |
outside observers are gathering in nicaragua to monitor the registration and treatment of opposition candidates |
and important u.s. lawmakers must decide at the end of november if the contras are to receive the rest of the $ N million in so-called humanitarian assistance under a bipartisan agreement reached with the bush administration in march |
the humanitarian assistance which pays for supplies such as food and clothing for the rebels <unk> along the nicaraguan border with honduras replaced the military aid cut off by congress in february N |
while few lawmakers anticipated that the humanitarian aid would be cut off next month mr. ortega 's threat practically guarantees that the humanitarian aid will be continued |
senate minority leader robert dole r. <unk> said yesterday on meet the press i would hope after his mr. ortega 's act yesterday or the day before we 'd have <unk> support for quick action on remaining humanitarian aid |
sen. dole also said he hoped for <unk> support for a resolution he plans to offer tomorrow <unk> the nicaraguan leader |
while renewing military aid had been considered out of the question rejected by congress and <unk> by the bush administration mr. ortega 's statement provides contra supporters with the opportunity to press the administration on the issue |
the administration should now state that if the february election is <unk> by the sandinistas they should call for military aid said former assistant secretary of state elliott abrams |
in these circumstances i think they 'd win |
sen. mitchell said that congressional democrats intend to honor the march agreement to give <unk> support to the contras through the february elections although he added that the agreement requires that the contras not <unk> any military action |
mr. ortega 's threat to breach the cease-fire comes as u.s. officials were acknowledging that the contras have at times violated it themselves |
secretary of state james baker who accompanied president bush to costa rica told reporters friday i have no reason to deny reports that some contras <unk> some sandinista soldiers |
mr. baker 's assistant for <unk> affairs bernard <unk> while maintaining that the sandinistas had also broken the cease-fire acknowledged it 's never very clear who starts what |
he added that the u.s. has cut off aid to some rebel units when it was determined that those units broke the cease-fire |
in addition to <unk> arguments in favor of ending contra aid mr. ortega 's remarks also played to the <unk> of some u.s. officials and conservatives outside the government that he is searching for ways to manipulate or <unk> the february elections |
administration officials traveling with president bush in costa rica interpreted mr. ortega 's <unk> as a sign that he is n't responding to the military attacks so much as he is searching for ways to strengthen his hand prior to the elections |
mr. abrams said that mr. ortega is seeking to <unk> the contras prior to the elections to remove any pressure to hold fair elections |
my sense is what they have in mind is an excuse for <unk> down on <unk> by creating an atmosphere of a military emergency he said |
milton petrie chairman of petrie stores corp. said he has agreed to sell his N N stake in deb shops corp. to petrie stores |
in a securities and exchange commission filing mr. petrie said that on oct. N petrie stores agreed to purchase mr. petrie 's N deb shops shares |
the transaction will take place tomorrow |
the filing said petrie stores of <unk> n.j. is purchasing mr. petrie 's deb shops stake as an investment |
although petrie stores has considered seeking to acquire the remaining equity of deb stores it has no current intention to pursue such a possibility the filing said |
<unk> deb shops said it saw little significance in mr. petrie selling his stock to petrie stores |
we did n't look at it and say oh my god something is going to happen said stanley <unk> vice president and corporate counsel |
mr. <unk> said that mr. petrie or his company have been <unk> deb shops stock for several years each time issuing a similar regulatory statement |
he said no discussions currently are taking place between the two companies |
<unk> corp. said unconsolidated pretax profit increased N N to N billion yen $ N million in the first half ended sept. N from N billion yen a year ago |
the tokyo camera maker said net income more than doubled to N billion yen or N a share from N billion yen or N yen a share |
<unk> said sales rose despite the adverse effect of japan 's unpopular consumption tax introduced in april |
increasing personal spending and capital investment are fueling growth the company said |
rising export sales also contributed to strong growth <unk> added |
total sales gained N N to N billion yen from N billion yen |
exports made up N N of the latest year 's total up from N N a year ago |
camera sales showed the strongest gains rising N N to N billion yen |
<unk> forecast sales for the year ending march N will rise N N to N billion yen |
pretax profit is expected to increase N N to N billion yen and net income is expected to rise N N to N billion yen |
<unk> oil co. said it signed a definitive agreement to acquire gulf canada resources ltd. 's u.s. unit for $ N million |
<unk> a denver oil and gas concern said it will acquire the properties and operations of home petroleum corp. which includes two regional <unk> systems and proved reserves of about nine million barrels of oil and N billion cubic feet of natural gas |
<unk> said the properties are generally <unk> in wyoming north <unk> texas oklahoma and louisiana |
gulf canada calgary said the transaction is part of its plan to sell <unk> assets and focus operations on canada indonesia and other international areas |
a spokesman for gulf canada which is controlled by toronto 's <unk> family said the properties account for about N N of the company 's assets and produce about N barrels of oil and N million cubic feet of gas a day |
he said gulf canada will likely report an extraordinary gain from the sale in the fourth quarter but he would n't offer a specific estimate |
the transaction is expected to close by nov. N |
nec corp. a tokyo-based computer and electronics concern said net income rose N N to N billion yen $ N million in the fiscal first half ended sept. N from N billion yen a year earlier |
sales rose N N to N trillion yen from N trillion yen |
nec said first-half computer sales totaled N billion yen up N N from N billion yen a year earlier |
sales of electrical devices rose N N to N billion yen from N billion yen |
it said sales of home electronic products advanced N N to N billion yen from N billion yen |
in the period just ended computers accounted for N N of total sales nec said and electrical devices made up N N |
nec forecast sales for the year ending next march N of N trillion yen an increase of N N from the previous fiscal year |
it said net income will rise N N to N billion yen |
montedison <unk> definitively agreed to buy all of the publicly held shares of erbamont n.v. for $ N each |
montedison now owns about N N of erbamont 's shares outstanding |
the companies said the accord was unanimously approved by a special committee of erbamont directors <unk> with montedison |
under the pact <unk> will make a $ <unk> tender offer for erbamont stock outstanding |
the tender offer will be followed by the sale of all of erbamont 's assets subject to all of its liabilities to montedison |
erbamont will then be liquidated with any remaining erbamont holders receiving a distribution of $ N a share |
the companies said the transaction is being structured this way because the laws of the netherlands <unk> under which erbamont is organized do n't provide for merger transactions |
a unit of dpc acquisition partners launched a $ <unk> tender offer for the shares outstanding of dataproducts corp. and said it would seek to liquidate the <unk> maker as soon as possible even if a merger is n't <unk> |
dpc acquisition is controlled by <unk> investment associates wilson investment group <unk> corp. and catalyst partners |
the investor group owns N dataproducts common shares or a N N stake |
the offer is based on several conditions including obtaining financing |
dpc acquisition said it had received the reasonable assurance of chase manhattan bank <unk> that the financing can be obtained |
in a filing with the securities and exchange commission dpc acquisition said it expects it will need about $ N million to buy the shares and pay related fees and expenses |
dpc acquisition added that it has not begun discussions with financing sources and said it expected to repay the amounts borrowed through proceeds of the liquidation |
dataproducts officials declined to comment and said they had not yet seen a suit filed in federal court by dpc acquisition that seeks to <unk> a standstill agreement between dpc acquisition and dataproducts |
earlier this year dpc acquisition made a $ <unk> offer for dataproducts which the dataproducts board said it rejected because the $ N million offer was not fully financed |
dataproducts has since started a restructuring and has said it is not for sale |
jayark corp. agreed to pay $ N million in cash $ N million of N N convertible debentures and N million common shares to acquire closely held <unk> imports inc |
in over-the-counter trading friday jayark was quoted at N cents bid down N cents |
at the market price the transaction has a total indicated value of $ N million |
<unk> is a new york holding company for <unk> inc. which imports furniture and other items |
david l. <unk> president and chief executive officer of jayark holds about N N of <unk> jayark said |
jayark new york distributes and <unk> <unk> equipment and prints promotional ads for retailers |
in the quarter ended july N jayark had an average of N million shares outstanding |
the transaction is subject to approval by a panel of <unk> directors the company said adding that shareholder approval is n't needed |
<unk> co. a tokyo-based <unk> concern said net income in its first half rose N N to N billion yen $ N million from N billion yen a year earlier |
sales in the six months ended sept. N were up N N to N billion yen from N billion yen |
sales were higher in all of the company 's business categories with the biggest growth coming in sales of <unk> such as <unk> coffee and frozen food which rose N N |
oils and <unk> also did well posting a N N sales increase |
sales in the category that includes pharmaceuticals <unk> <unk> and chemicals rose N N |
<unk> predicted sales in the current fiscal year ending next march N of N billion yen compared with N billion yen in fiscal N |
it said it expects full-year net of N billion yen compared with N billion yen in the latest year |
the new york mercantile exchange the world 's chief oil futures marketplace is at a critical <unk> |
several longtime observers of the commodities industry think the fortunes of the merc over the next decade will be determined to a large extent by how well its new natural gas futures contract does and how successful its new president is in raising the level of compliance by floor traders with exchange and commodity f... |
if the exchange <unk> in these moves they say it might once again fall behind its chief new york competitor the commodity exchange |
on friday the merc 's board announced that it had approved <unk> pipe line co. 's henry hub in <unk> <unk> as the delivery site for its long-awaited natural gas futures contract |
it also said that it would start trading the contract as soon as the cftc approved it |
the cftc has N days to respond to such applications |
the merc first started working on developing this contract in N |
only three weeks earlier the merc had turned to one of its own executives 40-year-old r. patrick thompson to replace <unk> t. <unk> as president |
mr. thompson is believed to have a mandate from the board of directors to help improve the merc 's <unk> reputation as an exchange whose floor traders do n't follow the rules very well |
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