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'BAHIA COCOA REVIEW Showers continued throughout the week in\nthe Bahia cocoa zone, alleviating the drought since early\nJanuary and improving prospects for the coming temporao,\nalthough normal humidity levels have not been restored,\nComissaria Smith said in its weekly review.\n    The dry period means the temporao will be late this year.\n    Arrivals for the week ended February 22 were 155,221 bags\nof 60 kilos making a cumulative total for the season of 5.93\nmln against 5.81 at the same stage last year. Again it seems\nthat cocoa delivered earlier on consignment was included in the\narrivals figures.\n    Comissaria Smith said there is still some doubt as to how\nmuch old crop cocoa is still available as harvesting has\npractically come to an end. With total Bahia crop estimates\naround 6.4 mln bags and sales standing at almost 6.2 mln there\nare a few hundred thousand bags still in the hands of farmers,\nmiddlemen, exporters and processors.\n    There are doubts as to how much of this cocoa would be fit\nfor export as shippers are now experiencing dificulties in\nobtaining +Bahia superior+ certificates.\n    In view of the lower quality over recent weeks farmers have\nsold a good part of their cocoa held on consignment.\n    Comissaria Smith said spot bean prices rose to 340 to 350\ncruzados per arroba of 15 kilos.\n    Bean shippers were reluctant to offer nearby shipment and\nonly limited sales were booked for March shipment at 1,750 to\n1,780 dlrs per tonne to ports to be named.\n    New crop sales were also light and all to open ports with\nJune/July going at 1,850 and 1,880 dlrs and at 35 and 45 dlrs\nunder New York july, Aug/Sept at 1,870, 1,875 and 1,880 dlrs\nper tonne FOB.\n    Routine sales of butter were made. March/April sold at\n4,340, 4,345 and 4,350 dlrs.\n    April/May butter went at 2.27 times New York May, June/July\nat 4,400 and 4,415 dlrs, Aug/Sept at 4,351 to 4,450 dlrs and at\n2.27 and 2.28 times New York Sept and Oct/Dec at 4,480 dlrs and\n2.27 times New York Dec, Comissaria Smith said.\n    Destinations were the U.S., Covertible currency areas,\nUruguay and open ports.\n    Cake sales were registered at 785 to 995 dlrs for\nMarch/April, 785 dlrs for May, 753 dlrs for Aug and 0.39 times\nNew York Dec for Oct/Dec.\n    Buyers were the U.S., Argentina, Uruguay and convertible\ncurrency areas.\n    Liquor sales were limited with March/April selling at 2,325\nand 2,380 dlrs, June/July at 2,375 dlrs and at 1.25 times New\nYork July, Aug/Sept at 2,400 dlrs and at 1.25 times New York\nSept and Oct/Dec at 1.25 times New York Dec, Comissaria Smith\nsaid.\n    Total Bahia sales are currently estimated at 6.13 mln bags\nagainst the 1986/87 crop and 1.06 mln bags against the 1987/88\ncrop.\n    Final figures for the period to February 28 are expected to\nbe published by the Brazilian Cocoa Trade Commission after\ncarnival which ends midday on February 27.\n Reuter\n&#3;',0
'NATIONAL AVERAGE PRICES FOR FARMER-OWNED RESERVE The U.S. Agriculture Department\nreported the farmer-owned reserve national five-day average\nprice through February 25 as follows (Dlrs/Bu-Sorghum Cwt) -\n         Natl   Loan           Release   Call\n         Avge   Rate-X  Level    Price  Price\n Wheat   2.55   2.40       IV     4.65     --\n                            V     4.65     --\n                           VI     4.45     --\n Corn    1.35   1.92       IV     3.15   3.15\n                            V     3.25     --\n X - 1986 Rates.\n\n          Natl   Loan          Release   Call\n          Avge   Rate-X  Level   Price  Price\n Oats     1.24   0.99        V    1.65    -- \n Barley   n.a.   1.56       IV    2.55   2.55\n                             V    2.65    -- \n Sorghum  2.34   3.25-Y     IV    5.36   5.36\n                             V    5.54    -- \n    Reserves I, II and III have matured. Level IV reflects\ngrain entered after Oct 6, 1981 for feedgrain and after July\n23, 1981 for wheat. Level V wheat/barley after 5/14/82,\ncorn/sorghum after 7/1/82. Level VI covers wheat entered after\nJanuary 19, 1984.  X-1986 rates. Y-dlrs per CWT (100 lbs).\nn.a.-not available.\n Reuter\n&#3;',1
'ARGENTINE 1986/87 GRAIN/OILSEED REGISTRATIONS Argentine grain board figures show\ncrop registrations of grains, oilseeds and their products to\nFebruary 11, in thousands of tonnes, showing those for futurE\nshipments month, 1986/87 total and 1985/86 total to February\n12, 1986, in brackets:\n    Bread wheat prev 1,655.8, Feb 872.0, March 164.6, total\n2,692.4 (4,161.0).\n    Maize Mar 48.0, total 48.0 (nil).\n    Sorghum nil (nil)\n    Oilseed export registrations were:\n    Sunflowerseed total 15.0 (7.9)\n    Soybean May 20.0, total 20.0 (nil)\n    The board also detailed export registrations for\nsubproducts, as follows,\n    SUBPRODUCTS\n    Wheat prev 39.9, Feb 48.7, March 13.2, Apr 10.0, total\n111.8 (82.7) .\n    Linseed prev 34.8, Feb 32.9, Mar 6.8, Apr 6.3, total 80.8\n(87.4).\n    Soybean prev 100.9, Feb 45.1, MAr nil, Apr nil, May 20.0,\ntotal 166.1 (218.5).\n    Sunflowerseed prev 48.6, Feb 61.5, Mar 25.1, Apr 14.5,\ntotal 149.8 (145.3).\n    Vegetable oil registrations were :         \n    Sunoil prev 37.4, Feb 107.3, Mar 24.5, Apr 3.2, May nil,\nJun 10.0, total 182.4 (117.6).                  \n    Linoil prev 15.9, Feb 23.6, Mar 20.4, Apr 2.0, total 61.8,\n(76.1).                         \n    Soybean oil prev 3.7, Feb 21.1, Mar nil, Apr 2.0, May 9.0,\nJun 13.0, Jul 7.0, total 55.8 (33.7).        REUTER\n&#3;',1
'CHAMPION PRODUCTS &lt;CH> APPROVES STOCK SPLIT Champion Products Inc said its\nboard of directors approved a two-for-one stock split of its\ncommon shares for shareholders of record as of April 1, 1987.\n    The company also said its board voted to recommend to\nshareholders at the annual meeting April 23 an increase in the\nauthorized capital stock from five mln to 25 mln shares.\n Reuter\n&#3;',0
'COMPUTER TERMINAL SYSTEMS &lt;CPML> COMPLETES SALE Computer Terminal Systems Inc said\nit has completed the sale of 200,000 shares of its common\nstock, and warrants to acquire an additional one mln shares, to\n&lt;Sedio N.V.> of Lugano, Switzerland for 50,000 dlrs.\n    The company said the warrants are exercisable for five\nyears at a purchase price of .125 dlrs per share.\n    Computer Terminal said Sedio also has the right to buy\nadditional shares and increase its total holdings up to 40 pct\nof the Computer Terminal\'s outstanding common stock under\ncertain circumstances involving change of control at the\ncompany.\n    The company said if the conditions occur the warrants would\nbe exercisable at a price equal to 75 pct of its common stock\'s\nmarket price at the time, not to exceed 1.50 dlrs per share.\n    Computer Terminal also said it sold the technolgy rights to\nits Dot Matrix impact technology, including any future\nimprovements, to &lt;Woodco Inc> of Houston, Tex. for 200,000\ndlrs. But, it said it would continue to be the exclusive\nworldwide licensee of the technology for Woodco.\n    The company said the moves were part of its reorganization\nplan and would help pay current operation costs and ensure\nproduct delivery.\n    Computer Terminal makes computer generated labels, forms,\ntags and ticket printers and terminals.\n Reuter\n&#3;',0
'COBANCO INC &lt;CBCO> YEAR NET Shr 34 cts vs 1.19 dlrs\n    Net 807,000 vs 2,858,000\n    Assets 510.2 mln vs 479.7 mln\n    Deposits 472.3 mln vs 440.3 mln\n    Loans 299.2 mln vs 327.2 mln\n    Note: 4th qtr not available. Year includes 1985\nextraordinary gain from tax carry forward of 132,000 dlrs, or\nfive cts per shr.\n Reuter\n&#3;',0
'OHIO MATTRESS &lt;OMT> MAY HAVE LOWER 1ST QTR NET Ohio Mattress Co said its first\nquarter, ending February 28, profits may be below the 2.4 mln\ndlrs, or 15 cts a share, earned in the first quarter of fiscal\n1986.\n    The company said any decline would be due to expenses\nrelated to the acquisitions in the middle of the current\nquarter of seven licensees of Sealy Inc, as well as 82 pct of\nthe outstanding capital stock of Sealy.\n    Because of these acquisitions, it said, first quarter sales\nwill be substantially higher than last year\'s 67.1 mln dlrs.\n    Noting that it typically reports first quarter results in\nlate march, said the report is likely to be issued in early\nApril this year.\n    It said the delay is due to administrative considerations,\nincluding conducting appraisals, in connection with the\nacquisitions.\n Reuter\n&#3;',0
'AM INTERNATIONAL INC &lt;AM> 2ND QTR JAN 31 Oper shr loss two cts vs profit seven cts\n    Oper shr profit 442,000 vs profit 2,986,000\n    Revs 291.8 mln vs 151.1 mln\n    Avg shrs 51.7 mln vs 43.4 mln\n    Six mths\n    Oper shr profit nil vs profit 12 cts\n    Oper net profit 3,376,000 vs profit 5,086,000\n    Revs 569.3 mln vs 298.5 mln\n    Avg shrs 51.6 mln vs 41.1 mln\n    NOTE: Per shr calculated after payment of preferred\ndividends.\n    Results exclude credits of 2,227,000 or four cts and\n4,841,000 or nine cts for 1986 qtr and six mths vs 2,285,000 or\nsix cts and 4,104,000 or 11 cts for prior periods from\noperating loss carryforwards.\n Reuter\n&#3;',0
'BROWN-FORMAN INC &lt;BFD> 4TH QTR NET Shr one dlr vs 73 cts\n    Net 12.6 mln vs 15.8 mln\n    Revs 337.3 mln vs 315.2 mln\n    Nine mths\n    Shr 3.07 dlrs vs 3.08 dlrs\n    Net 66 mln vs 66.2 mln\n    Revs 1.59 billion vs 997.1 mln\n Reuter\n&#3;',0
'DEAN FOODS &lt;DF> SEES STRONG 4TH QTR EARNINGS Dean Foods Co expects earnings for the\nfourth quarter ending May 30 to exceed those of the same\nyear-ago period, Chairman Kenneth Douglas told analysts.\n    In the fiscal 1986 fourth quarter the food processor\nreported earnings of 40 cts a share.\n    Douglas also said the year\'s sales should exceed 1.4\nbillion dlrs, up from 1.27 billion dlrs the prior year.\n    He repeated an earlier projection that third-quarter\nearnings \"will probably be off slightly\" from last year\'s 40\ncts a share, falling in the range of 34 cts to 36 cts a share.\n    Douglas said it was too early to project whether the\nanticipated fourth quarter performance would be \"enough for us\nto exceed the prior year\'s overall earnings\" of 1.53 dlrs a\nshare.\n    In 1988, Douglas said Dean should experience \"a 20 pct\nimprovement in our bottom line from effects of the tax reform\nact alone.\"\n    President Howard Dean said in fiscal 1988 the company will\nderive  benefits of various dairy and frozen vegetable\nacquisitions from Ryan Milk to the Larsen Co.\n    Dean also said the company will benefit from its\nacquisition in late December of Elgin Blenders Inc, West\nChicago.\n    He said the company is a major shareholder of E.B.I. Foods\nLtd, a United Kingdom blender, and has licensing arrangements\nin Australia, Canada, Brazil and Japan.\n    \"It provides ann entry to McDonalds Corp &lt;MCD> we\'ve been\nafter for years,\" Douglas told analysts.\n Reuter\n&#3;',0
'BONUS WHEAT FLOUR FOR NORTH YEMEN  -- USDA The Commodity Credit Corporation, CCC,\nhas accepted an export bonus offer to cover the sale of 37,000\nlong tons of wheat flour to North Yemen, the U.S. Agriculture\nDepartment said.\n    The wheat four is for shipment March-May and the bonus\nawarded was 119.05 dlrs per tonnes and will be paid in the form\nof commodities from the CCC inventory.\n    The bonus was awarded to the Pillsbury Company.\n    The wheat flour purchases complete the Export Enhancement\nProgram initiative announced in April, 1986, it said.\n Reuter\n&#3;',1
'MAGMA LOWERS COPPER 0.75 CENT TO 66 CTS Magma Copper Co, a subsidiary of Newmont\nMining Corp, said it is cutting its copper cathode price by\n0.75 cent to 66 cents a lb, effective immediately.\n Reuter\n&#3;',0
'BROWN-FORMAN &lt;BFDB> SETS STOCK SPLIT, UPS PAYOUT Brown-Forman Inc said its board\nhas approved a three-for-two stock split and a 35 pct increase\nin the company cash dividend.\n    The company cited its improved earnings outlook and\ncontinued strong cash flow as reasons for raising the dividend.\n    Brown-Forman said the split of its Class A and Class B\ncommon shares would be effective March 13.\n    The company said directors declared a quarterly cash\ndividend on each new share of both classes of 28 cts, payable\nApril one to holders of record March 20. Prior to the split,\nthe company had paid 31 cts quarterly.\n    Brown-Forman today reported a 37 pct increase in third \nquarter profits to 21.6 mln dlrs, or 1.00 dlr a share, on a\nseven pct increase in sales to a record 337 mln dlrs.\n    Brown-Forman said nine month profits declined a bit to 66.0\nmln dlrs, or 3.07 dlrs a share, from 66.2 mln dlrs, or 3.08\ndlrs a share, a year earlier due to a second quarter charge of\n37 cts a share for restructuring its beverage operations.\n    The company said lower corporate tax rates and the\nrestructuring \"are expected to substantially improve\nBrown-Forman\'s earnings and cash flow in fiscal 1988.\"\n Reuter\n&#3;',0
'ESQUIRE RADIO AND ELECTRONICS INC &lt;EE> 4TH QTR Shr profit 15 cts vs profit four cts\n    Annual div 72 cts vs 72 cts prior yr\n    Net profit 72,000 vs profit 16,000\n    Revs 7,075,000 vs 2,330,000\n    12 mths\n    Shr profit 42 cts vs loss 11 cts\n    Net profit 203,000 vs loss 55,000\n    Revs 16.1 mln vs 3,971,000\n    NOTE: annual dividend payable April 10, 1987, to\nstockholders of record on March 27, 1987.\n Reuter\n&#3;',0
'UNITED PRESIDENTIAL CORP &lt;UPCO> 4TH QTR NET Shr 39 cts vs 50 cts\n    Net 1,545,160 vs 2,188,933\n    Revs 25.2 mln vs 19.5 mln\n    Year\n    Shr 1.53 dlrs vs 1.21 dlrs\n    Net 6,635,318 vs 5,050,044\n    Revs 92.2 mln vs 77.4 mln\n    NOTE: Results include adjustment of 848,600 dlrs or 20 cts\nshr for 1986 year and both 1985 periods from improvement in\nresults of its universal life business than first estimated.\n Reuter\n&#3;',0
'JANUARY HOUSING SALES DROP, REALTY GROUP SAYS Sales of previously owned homes\ndropped 14.5 pct in January to a seasonally adjusted annual\nrate of 3.47 mln units, the National Association of Realtors\n(NAR) said.\n    But the December rate of 4.06 mln units had been the\nhighest since the record 4.15 mln unit sales rate set in\nNovember 1978, the group said.\n    \"The drop in January is not surprising considering that a\nsignificant portion of December\'s near-record pace was made up\nof sellers seeking to get favorable capital gains treatment\nunder the old tax laws,\" said the NAR\'s John Tuccillo.\n Reuter\n&#3;',0
'ASSETS OF MONEY MARKET MUTUAL FUNDS ROSE 720.4 MLN DLRS IN LATEST WEEK\n ',0
'OWENS AND MINOR INC &lt;OBOD> RAISES QTLY DIVIDEND Qtly div eights cts vs 7.5 cts prior\n    Pay March 31\n    Record March 13\n Reuter\n&#3;',0
'COMPUTER LANGUAGE RESEARCH IN &lt;CLRI> 4TH QTR Shr loss 22 cts vs loss 18 cts\n    Net loss 3,035,000 vs loss 2,516,000\n    Revs 20.9 mln vs 19.6 mln\n    Qtly div three cts vs three cts prior\n    Year\n    Shr profit two cts vs profit 34 cts\n    Net profit 215,000 vs profit 4,647,000\n    Revs 93.4 mln vs 98.7 mln\n    NOTE: Dividend payable April one to shareholders of record\nMarch 17.\n Reuter\n&#3;',0
'&lt;CINRAM LTD> 4TH QTR NET Shr 45 cts vs 58 cts\n    Net 1.1 mln vs 829,000\n    Sales 7.9 mln vs 9.4 mln\n    Avg shrs 2,332,397 vs 1,428,000\n    Year\n    Shr 1.22 dlrs vs 1.06 dlrs\n    Net 2.9 mln vs 1.5 mln\n    Sales 25.7 mln vs 22.2 mln\n    Avg shrs 2,332,397 vs 1,428,000\n Reuter\n&#3;',0
'STANDARD TRUSTCO SEES BETTER YEAR Standard Trustco said it expects earnings\nin 1987 to increase at least 15 to 20 pct from the 9,140,000\ndlrs, or 2.52 dlrs per share, recorded in 1986.\n    \"Stable interest rates and a growing economy are expected to\nprovide favorable conditions for further growth in 1987,\"\npresident Brian O\'Malley told shareholders at the annual\nmeeting.\n    Standard Trustco previously reported assets of 1.28 billion\ndlrs in 1986, up from 1.10 billion dlrs in 1985. Return on\ncommon shareholders\' equity was 18.6 pct last year, up from 15\npct in 1985.\n Reuter\n&#3;',0
'HANDY AND HARMAN &lt;HNH> 4TH QTR LOSS Shr loss 51 cts vs loss three cts\n    Net loss 7,041,000 vs loss 467,000\n    Rev 138.9 mln vs 131.4 mln\n    12 months\n    Shr loss 64 cts vs profit 46 cts\n    Net loss 8,843,000 vs profit 6,306,0000\n    Rev 558.9 mln vs 556.7 mln\n    NOTE: Net loss for 4th qtr 1986 includes charge for\nrestructuring of 2.6 mln dlrs after tax, or 19 cts a share.\n    1986 net loss includes after tax special charge of 2.7 mln\ndlrs, or 20 cts a share.\n   \n Reuter\n&#3;',0
'ICO PRODUCERS TO PRESENT NEW COFFEE PROPOSAL International Coffee Organization, ICO,\nproducing countries will present a proposal for reintroducing\nexport quotas for 12 months from April 1 with a firm\nundertaking to try to negotiate up to September 30 any future\nquota distribution on a new basis, ICO delegates said.\n    Distribution from April 1 would be on an unchanged basis as\nin an earlier producer proposal, which includes shortfall\nredistributions totalling 1.22 mln bags, they said.\n    Resumption of an ICO contact group meeting with consumers,\nscheduled for this evening, has been postponed until tomorrow,\ndelegates said.\n Reuter\n&#3;',0
'MCLEAN\'S &lt;MII> U.S. LINES SETS ASSET TRANSFER McLean Industries Inc\'s United\nStates Lines Inc subsidiary said it has agreed in principle to\ntransfer its South American service by arranging for the\ntransfer of certain charters and assets to &lt;Crowley Mariotime\nCorp>\'s American Transport Lines Inc subsidiary.\n    U.S. Lines said negotiations on the contract are expected\nto be completed within the next week. Terms and conditions of\nthe contract would be subject to approval of various regulatory\nbodies, including the U.S. Bankruptcy Court.\n Reuter\n&#3;',0
'CHEMLAWN &lt;CHEM> RISES ON HOPES FOR HIGHER BIDS ChemLawn Corp &lt;CHEM> could attract a\nhigher bid than the 27 dlrs per share offered by Waste\nManagement Inc &lt;WNX>, Wall Street arbitrageurs said.\n    Shares of ChemLawn shot up 11-5/8 to 29-3/8 in\nover-the-counter- trading with 3.8 mln of the company\'s 10.1\nmln shares changing hands by late afternoon.\n    \"This company could go for 10 times cash flow or 30 dlrs,\nmaybe 32 dollars depending on whether there is a competing\nbidder,\" an arbitrageur said. Waste Management\'s tender offer,\nannounced before the opening today, expires March 25.\n    \"This is totally by surprise,\" said Debra Strohmaier, a\nChemLawn spokeswoman. The company\'s board held a regularly\nscheduled meeting today and was discussing the Waste Management\nannouncement. She said a statement was expected but it was not\ncertain when it would be ready. \n    She was unable to say if there had been any prior contact\nbetween Waste Management and ChemLawn officials.\n    \"I think they will resist it,\" said Elliott Schlang,\nanalyst at Prescott, Ball and Turben Inc. \"Any company that\ndoesn\'t like a surprise attack would.\"\n    Arbitrageurs pointed out it is difficult to resist tender\noffers for any and all shares for cash. Schlang said ChemLawn\ncould try to find a white knight if does not want to be\nacquired by Waste Management.\n    Analyst Rosemarie Morbelli of Ingalls and Snyder said\nServiceMaster Companies L.P. &lt;SVM> or Rollins Inc &lt;ROL> were\nexamples of companies that could be interested.\n    ChemLawn, with about two mln customers, is the largest U.S.\ncompany involved in application of fertilizers, pesticides and\nherbicides on lawns. Waste Management is involved in removal of\nwastes.\n    Schlang said ChemLawn\'s customer base could be valuable to\nanother company that wants to capitalize on a strong\nresidential and commercial distribution system.\n    Both Schlang and Morbelli noted that high growth rates had\ncatapulted ChemLawn\'s share price into the mid-30\'s in 1983 but\nthe stock languished as the rate of growth slowed.\n    Schlang said the company\'s profits are concentrated in the\nfourth quarter. In 1986 ChemLawn earned 1.19 dlrs per share for\nthe full year, and 2.58 dlrs in the fourth quarter.\n    Morbelli noted ChemLawn competes with thousands of\nindividual entrepreuers who offer lawn and garden care sevice.\n Reuter\n&#3;',0
'U.S. SUGAR IMPORTS DOWN IN WEEK - USDA Sugar imports subject to the U.S.\nsugar import quota during the week ended January 9, the initial\nweek of the 1987 sugar quota year, totaled 5,988 short tons\nversus 46,254 tons the previous week, the Agriculture\nDepartment said.\n    The sugar import quota for the 1987 quota year\n(January-December) has been set at 1,001,430 short tons\ncompared with 1,850,000 tons in the 1986 quota year, which was\nextended three months to December 31.\n    The department said the Customs Service has reported that\nweekly and cumulative imports are reported on an actual weight\nbasis and when final polarizations are received, cumulative\nimport data are adjusted accordingly.\n Reuter\n&#3;',0
'BRAZIL ANTI-INFLATION PLAN LIMPS TO ANNIVERSARY inflation\nplan, initially hailed at home and abroad as the saviour of the\neconomy, is limping towards its first anniversary amid soaring\nprices, widespread shortages and a foreign payments crisis.\n    Announced last February 28 the plan froze prices, fixed the\nvalue of the new Cruzado currency and ended widespread\nindexation of the economy in a bid to halt the country\'s 250\npct inflation rate.\n    But within a year the plan has all but collapsed.\n    \"The situation now is worse than it was. Although there was\ninflation, at least the economy worked,\" a leading bank\neconomist said.\n    The crumbling of the plan has been accompanied by a\ndramatic reversal in the foreign trade account. In 1984 and\n1985 Brazil\'s annual trade surpluses had been sufficient to\ncover the 12 billion dlrs needed to service its 109 billion dlr\nforeign debt.\n    For the first nine months of 1986 all seemed to be on\ntarget for a repeat, with monthly surpluses averaging one\nbillion dlrs. But as exports were diverted and imports\nincreased to avoid further domestic shortages the trade surplus\nplunged to 211 mln dlrs in October and since then has averaged\nunder 150 mln.\n Reuter\n&#3;',0
'N.Z. OFFICIAL FOREIGN RESERVES FALL IN JANUARY New Zealand\'s official foreign\nreserves fell to 7.15 billion N.Z. Dlrs in January from 7.20\nbillion dlrs in December and compared with 3.03 billion a year\nago period, the Reserve Bank said in its weekly statistical\nbulletin.\n Reuter\n&#3;',0
'AGENCY REPORTS 39 SHIPS WAITING AT PANAMA CANAL The Panama Canal Commission, a U.S.\ngovernment agency, said in its daily operations report that\nthere was a backlog of 39 ships waiting to enter the canal\nearly today. Over the next two days it expects --              \n             2/26  2/27\n                       Due: 27    35\n      Scheduled to Transit: 35    41\n           End-Day Backlog: 31    25\n    Average waiting time tomorrow --\n         Super Tankers  Regular Vessels\n North End:  13 hrs      15 hrs\n South End:   4 hrs      26 hrs\n Reuter\n&#3;',0
'AMERICA FIRST MORTGAGE SETS SPECIAL PAYOUT &lt;America First Federally Guaranteed\nMortgage Fund Two> said it is making a special distribution of\n71.6 cts per exchangeable unit, which includes 67.62 cts from\nreturn on capital and 3.98 cts from income gains.\n Reuter\n&#3;',0
'EMHART CORP &lt;EMH> QTLY DIVIDEND Qtly div 35 cts vs 35 cts prior\n    Payable March 31\n    Record March nine\n\n Reuter\n&#3;',0
'AM INTERNATIONAL &lt;AM> CITES STRONG PROSPECTS AM International Inc, reporting an\noperating loss for the January 31 second quarter, said\nprospects for the balance of the fiscal year remain good.\n    It said orders at its Harris Graphics subsidiary, acquired\nin June 1986, \"continue to run at a strong pace.\" For the six\nmonths, orders rose 35 pct over the corresponding prior-year\nperiod, or on an annualized basis are running at about 630 mln\ndlrs.\n    The backlog at Harris is up 30 pct from the beginning of\nthe fiscal year, AM said.\n    AM International said its old division are expected to\nbenefit from recent new product introductions and the decline\nin the value of the dollar.\n    \"Research, development and engineering expenditures in\nfiscal 1987 will be in the 45-50 mln dlr range, and the company\nsaid it has allocated another 30-40 mln dlrs for capital\nexpenditures.\n    Earlier AM reported a fourth quarter operating loss of two\ncts a share compared to profits of seven cts a share a year\nago. Revenues rose to 291.8 mln dlrs from 151.1 mln dlrs.\n Reuter\n&#3;',0
'CCC CREDITS FOR HONDURAS SWITCHED TO WHITE CORN The Commodity Credit Corporation (CCC)\nannounced 1.5 mln dlrs in credit guarantees previously\nearmarked to cover sales of dry edible beans to Honduras have\nbeen switched to cover sales of white corn, the U.S.\nAgriculture Department said.\n    The department said the action reduces coverage for sales\nof dry edible beans to 500,000 dlrs and creates the new line of\n1.5 mln dlrs for sales of white corn.\n    All sales under the credit guarantee line must be\nregistered  and shipped by September 30, 1987, it said.\n Reuter\n&#3;',1
'ASSETS OF U.S. MONEY FUNDS ROSE IN WEEK Assets of money market mutual funds\nincreased 720.4 mln dlrs in the week ended yesterday to 236.90\nbillion dlrs, the Investment Company Institute said.\n    Assets of 91 institutional funds rose 356 mln dlrs to 66.19\nbillion dlrs, 198 general purpose funds rose 212.5 mln dlrs to\n62.94 billion dlrs and 92 broker-dealer funds rose 151.9 mln\ndlrs to 107.77 billion dlrs.\n Reuter\n&#3;',0
'GULF BARGE FREIGHT RATES UP FURTHER ON CALL Gulf barge freight rates firmed again on\nthe outlook for steady vessel loadings at the Gulf, increasing\nthe demand for barges to supply those ships, dealers said.\n    No barges traded today on the St Louis Merchants\' Exchange\ncall session, versus 29 yesterday.\n    Quotes included -\n - Delivery this week on the Illinois River (Joliet) 135 pct of\ntariff bid/140 offered, with next week same river (ex Chicago)\nquoted the same - both up 2-1/2 percentage points.\n - Next week Mississippi River (St Louis) 120 pct bid/127-1/2\noffered - up five points.\n - Next week Ohio River (Owensboro/south) 125 pct bid/132-1/2\noffered - up 7-1/2 points.\n - On station Illinois River (south Chicago) 135 pct bid/140\noffered - no comparison.\n - March Illinois (ex Chicago) 132-1/2 pct bid/140 offered - up\n2-1/2 points.\n - March Ohio River bid at yesterday\'s traded level of 125 pct,\noffered at 132-1/2.\n - March lower Mississippi River (Memphis/Cairo) 112-1/2 pct\nbid/120 offered - no comparison.\n - May Illinois River (ex Chicago) 100 pct bid/107-1/2 offered\n- no comparison.\n - Sept/Nov Lower Mississippi River (Memphis/Cairo) 137-1/2 pct\nbid/145 offered, with Sept/Dec same section 125 pct bid/135\noffered - no comparison.\n Reuter\n&#3;',0
'GULF APPLIED &lt;GATS> SELLS UNITS, SEES GAIN Gulf Applied Technologies Inc said it\nsold its pipeline and terminal operations units for 12.2 mln\ndlrs and will record a gain of 2.9 mln dlrs in the first\nquarter.\n    It added that any federal taxes owed on the transaction\nwill be offset by operating loss carryovers.\n Reuter\n&#3;',0
'FARMERS GROUP INC &lt;FGRP> 4TH QTR NET Shr 80 cts vs 72 cts\n    Net 55,513,000 vs 48,741,000\n    Revs 290.9 mln vs 264.2 mln\n    Year\n    Shr 3.09 dlrs vs 2.72 dlrs\n    Net 213,470,000 vs 184,649,000\n    Revs 1.12 billion vs 992.9 mln\n    Avg shrs 69,127,000 vs 68,004,000\n Reuter\n&#3;',0
'POTOMAC ELECTRIC POWER CO &lt;POM> JAN NET Shr 27 cts vs 29 cts\n    Net 13,555,000 vs 14,635,000\n    Revs 104,606,000 vs 110,311,000\n    Avg shrs 47.2 mln vs 47.1 mln\n    12 mths\n    Shr 4.10 dlrs vs 3.66 dlrs\n    Net 226,653,000 vs 186,790,000\n    Revs 1.4 billion vs 1.3 billion\n    Avg shr 47.1 mln vs 47.1 mln\n   \n    NOTE: latest 12 mths net includes gain 46 cts per share for\nsale of Virginia service territory to Dominion Resources Inc\n&lt;D>.\n Reuter\n&#3;',0
'&lt;COFAB INC> BUYS GULFEX FOR UNDISCLOSED AMOUNT CoFAB Inc said it acquired &lt;Gulfex Inc>,\na Houston-based fabricator of custom high-pressure process\nvessels for the energy and petrochemical industries.\n    CoFAB said its group of companies manufacture specialized\ncooling and lubricating systems for the oil and gas,\npetrochemical, utility, pulp and paper and marine industries.\n Reuter\n&#3;',0
'U.S. WEEKLY SOYBEAN CRUSH 21,782,929 BUSHELS Reporting members of the National\nSoybean Processors Association (NSPA) crushed 21,782,929\nbushels of soybeans in the week ended Feb 25 compared with\n22,345,718 bushels in the previous week and 16,568,000 in the\nyear-ago week, the association said.\n    It said total crushing capacity for members was 25,873,904\nbushels vs 25,873,904 last week and 25,459,238 bushels last\nyear.\n    NSPA also said U.S. soybean meal exports in the week were\n117,866 tonnes vs 121,168 tonnes a week ago and compared with\n84,250 tonnes in the year-ago week.\n    NSPA said the figures include only NSPA member firms.\n Reuter\n&#3;',0
'TULTEX CORP &lt;TTX> SETS QUARTERLY DIVIDEND Qtly div eights cts vs eight cts prior\n    Pay April one\n    Record March 13\n Reuter\n&#3;',0
'ATICO FINANCIAL CORP &lt;ATFC> 4TH QTR NET Shr 30 cts vs 5.92 dlrs\n    Net 1,142,000 vs 16.0 mln\n    Revs 10.6 mln vs 24.2 mln\n    Year\n    Shr 90 cts vs 6.20 dlrs\n    Net 3,320,000 vs 16.9 mln\n    Revs 45.00 mln vs 26.2 mln\n    NOTE: 1986 4th qtr and yr amounts include acquisition of\n98.8 pct of common of Atico, formerly Peninsula Federal Savings\nand Loan Association, on January 24, 1986.\n    1985 4th qtr and yr net include net gain of 15.9 mln dlrs\nor 5.86 dlrs per share on exchange of common of Pan America\nBanks Inc for common of NCNB Corp purusant to a merger of the\ncompanies.\n Reuter\n&#3;',0
'ICO EXPORTERS TO MODIFY NEW PROPOSAL International Coffee Organization (ICO)\nexporters will modify their new proposal on quota resumption\nbefore presenting it to importers tomorrow, ICO delegates said.\n    The change, which will be discussed tonight informally\namong producers, follows talks after the formal producer\nsession with the eight-member producer splinter group and will\naffect the proposed quota distribution for 12 months from April\none, they said.\n    The proposed share-out would still include shortfall\ndeclarations, they said.\n Reuter\n&#3;',0
'U.S. COMMERCIAL PAPER FALLS 375 MLN DLRS IN FEB 18 WEEK, FED SAYS\n ',0
'N.Y. BUSINESS LOANS FALL 195 MLN DLRS IN FEB 18 WEEK, FED SAYS\n ',0
'NEW YORK BANK DISCOUNT WINDOW BORROWINGS 64 MLN DLRS IN FEB 25 WEEK\n ',0
'NEW YORK BUSINESS LOANS FALL 195 MLN DLRS Commercial and industrial loans on the\nbooks of the 10 major New York banks, excluding acceptances,\nfell 195 mln dlrs to 65.06 billion in the week ended February\n18, the Federal Reserve Bank of New York said.\n    Including acceptances, loans declined 114 mln dlrs to 65.89\nbillion.\n    Commercial paper outstanding nationally dropped 375 mln\ndlrs to 336.63 billion.\n    National business loan data are scheduled to be released on\nFriday.\n Reuter\n&#3;',0
'N.Y. BANK DISCOUNT BORROWINGS 64 MLN DLRS The eight major New York City banks had\n64 mln dlrs in average borrowings from the Federal Reserve in\nthe week to Wednesday February 25, a Fed spokesman said.\n    The week marked the second half of the two-week bank\nstatement period that ended on Wednesday. The banks had no\nborrowings in the prior week.\n    Commenting on the latest week, a Fed spokesman said that\nall of the borrowing occurred yesterday and was done by fewer\nthan half of the banks.\n    National data on discount window borrowings are due to be\nreleased at 1630 EST (2130 GMT).\n\n Reuter\n&#3;',0
'PHILIPPINE LONG DISTANCE &lt;PHI> YEAR NET Shr primary 95.30 pesos vs 29.71 pesos\n    Shr diluted 61.11 pesos vs 18.49 pesos\n    Qtly div 1.25 pesos vs 1.25 pesos\n    Net 1.9 billion vs 779 mln\n    Revs 6.1 billion vs 4.7 billion\n    NOTE: Full name Philippine Long Distance Telephone Co.\n    Figures quoted in Philippine Pesos.\n    Dividend payable April 15 to holders or record March 13.\nExchange rate on day of dividend declaration was 20.792 pesos\nper dollar.\n Reuter\n&#3;',0
'LIBERTY ALL-STAR EQUITY FUND INITIAL DIV Qtly div five cts vs N.A.\n    Payable April two\n    Record March 20\n    NOTE:1986 dividend includes special two cts per share for\nthe period beginning with the fund\'s commencement of operations\non Novebmer three through December 31, 1986.\n Reuter\n&#3;',0
'COMBUSTION ENGINEERING INC &lt;CSP> REGULAR DIV Qtly div 25 cts vs 25 cts prior\n    Pay April 30\n    Record April 16\n Reuter\n&#3;',0
'TONKA CORP &lt;TKA> RAISES DIVIDEND Qtly div two cts vs 1.7 cts\n    Pay March 26\n    Record March 12\n Reuter\n&#3;',0
'BDM INTERNATIONAL &lt;BDM> INCREASES QTRLY DIVS Annual div Class A 14 cts vs 12 cts prior\n    Annual div Class B 12.1 cts vs 10.4 cts prior\n    Payable April one\n    Record March 20\n    NOTE: full name is BDM International Inc.\n Reuter\n&#3;',0
'SYSTEMATICS INC &lt;SYST> REGULAR PAYOUT Qtly div three cts vs three cts prior\n    Pay March 13\n    Record February 27\n Reuter\n&#3;',0
'U.S. M-1 MONEY SUPPLY RISES 2.1 BILLION DLRS IN FEB 16 WEEK, FED SAYS\n ',0
'&lt;IVACO INC> YEAR NET Shr 1.11 dlrs vs 1.04 dlrs\n    Net 44,092,000 vs 35,145,000\n    Revs 1.94 billion vs 1.34 billion\n    Note: 1986 results include extraordinary gain of 1,035,000\ndlrs or six cts a share from secondary share offering of Canron\nunit.\n Reuter\n&#3;',0
'U.S. BANK DISCOUNT BORROWINGS AVERAGE 310 MLN DLRS IN FEB 25 WEEK, FED SAYS\n ',0
'U.S. BANK NET FREE RESERVES 644 MLN DLRS IN TWO WEEKS TO FEB 25, FED SAYS\n ',0
'INVESTMENT FIRMS CUT CYCLOPS &lt;CYL> STAKE A group of affiliated New York\ninvestment firms said they lowered their stake in Cyclops Corp\nto 260,500 shares, or 6.4 pct of the total outstanding common\nstock, from 370,500 shares, or 9.2 pct.\n    In a filing with the Securities and Exchange Commission,\nthe group, led by Mutual Shares Corp, said it sold 110,000\nCyclops common shares on Feb 17 and 19 for 10.0 mln dlrs.\n Reuter\n&#3;',0
'ASCS TERMINAL MARKET VALUES FOR PIK GRAIN The Agricultural Stabilization and\nConservation Service (ASCS) has established these unit values\nfor commodities offered from government stocks through\nredemption of Commodity Credit Corporation commodity\ncertificates, effective through the next business day.\n    Price per bushel is in U.S. dollars. Sorghum is priced per\nCWT, corn yellow grade only.\n     WHEAT     HRW   HRS    SRW   SWW   DURUM\n Chicago       --    3.04   2.98  --    --\n Ill. Track    --    --     3.16  --    --\n Toledo        --    3.04   2.98  2.90  --\n Memphis       --    --     3.05  --    --\n Peoria        --    --     3.11  --    --\n Denver        2.62  2.63  --    --    --\n Evansville    --    --    2.99  --    --\n Cincinnati    --    --    2.96  --    --\n Minneapolis   2.65  2.71  --    --    3.70\n Baltimore/\n Norf./Phil.   --    --    3.06  2.98  --\n Kansas City   2.87  --    3.17  --    --\n St. Louis     3.03  --    3.03  --    --\n Amarillo/\n Lubbock       2.64  --    --    --    --\n               HRW   HRS   SRW   SWW   DURUM\n Lou. Gulf     --    --    3.16  --    --\n Portland/\n Seattle       3.07  3.08  --    3.10  3.70\n Stockton      2.78  --    --    --    --\n L.A.          3.23  --    --    --    4.05\n Duluth        2.65  2.71  --    --    3.70\n Tex. Gulf     3.10  --    3.16  --    --\n\n             CORN  BRLY  OATS  RYE   SOYB  SORG\n Chicago     1.47  --    --    --    4.81  2.49\n Ill. Track  1.49  2.04  --    --    4.85  2.52\n Toledo      1.41  2.04  1.50  --    4.78  2.39\n Memphis     1.59  1.95  1.71  --    4.90  2.86\n Peoria      1.51  ---   --    --    4.80  2.60\n Denver      1.56  1.56  --    --    --    2.54\n Evnsvlle    1.54  2.04  1.50  2.17  4.90  2.61\n Cinci       1.52  2.04  1.50  2.17  4.85  2.58\n Mpls        1.34  1.75  1.50  1.85  4.68  --\n Balt/Nor/\n Phil        1.70  1.80  --    --    4.98  3.12\n KC          1.49  1.56  1.64  --    4.76  2.58\n St Lo       1.54  --    1.66  --    4.90  2.91\n Amarlo/\n Lubbck      1.84  1.40  --    --    4.75  2.92\n Lou Gulf    1.73  --    --    --    5.05  3.12\n Port/\n Seattle     1.87  2.10  1.68  --    --    --\n Stockton    2.18  2.23  2.10  --    --    4.00\n LA          2.54  2.50  --    --    --    4.38\n Duluth      1.34  1.75  1.50  1.85  4.68  --\n Tex Gulf    1.73  1.48  1.73  --    5.05  3.12\n Reuter\n&#3;',1
'CORADIAN CORP &lt;CDIN> 4TH QTR NET Shr profit three cts vs loss three cts\n    Net profit 363,000 vs loss 197,000\n    Revs 3,761,000 vs 2,666,000\n    Year\n    Shr profit one cent vs loss 37 cts\n    Net profit 129,000 vs loss 1,715,000\n    Revs 11.4 mln vs 10.9 mln\n    Avg shrs 10,694,081 vs 4,673,253\n Reuter\n&#3;',0
' &#2;\nFEDERAL RESERVE WEEKLY REPORT 1 - FEB 26\n    Two weeks ended Feb 25      daily avgs-mlns\n Net free reserves.............644 vs.....1,337\n Bank borrowings...............680 vs.......425\n Including seasonal loans.......81 vs........56\n Including extended loans......299 vs.......265\n Excess reserves.............1,025 vs.....1,497\n Required reserves (adj)....55,250 vs....55,366\n Required reserves............N.A. vs......N.A.\n Total reserves...............N.A. vs......N.A.\n Non-borrowed reserves........N.A. vs......N.A.\n Monetary base................N.A. vs......N.A.\n                         \n     Two weeks ended Feb 25                   \n Total vault cash.............N.A. vs......N.A.\n Inc cash equal to req res....N.A. vs......N.A.\n     One week ended Feb 25      Daily avgs-Mlns\n Bank borrowings...............614 down.....131\n Including seasonal loans.......88 up........14\n Including extended loans......304 up........10\n Float.........................511 down.....320\n Balances/adjustments........2,101 down......67\n Currency..................206,490 down.....519\n Treasury deposits...........4,208 down......63\n\n Reuter\n&#3;\n\n',0
'N.Z. TRADING BANK DEPOSIT GROWTH RISES SLIGHTLY New Zealand\'s trading bank seasonally\nadjusted deposit growth rose 2.6 pct in January compared with a\nrise of 9.4 pct in December, the Reserve Bank said.\n    Year-on-year total deposits rose 30.6 pct compared with a\n26.3 pct increase in the December year and 34.5 pct rise a year\nago period, it said in its weekly statistical release.\n    Total deposits rose to 17.18 billion N.Z. Dlrs in January\ncompared with 16.74 billion in December and 13.16 billion in\nJanuary 1986.\n Reuter\n&#3;',0
' &#2;\nFEDERAL RESERVE MONEY SUPPLY REPORT - FEB 26\n    One Week Ended Feb 16\n M-1.........................736.7 up.......2.1\n Previous week revised to....734.6 From...734.2\n Avge  4 Weeks (Vs Week Ago).735.0 Vs.....733.5\n Avge 13 Weeks (Vs week Ago).731.8 Vs.....729.8\n Monthly aggregates (Adjusted avgs in billions)\n M-1 (Jan vs Dec)............737.6 Vs.....730.5\n M-2 (Jan vs Dec)..........2,820.1 Vs...2,798.4\n M-3 (Jan vs Dec)..........3,513.6 Vs...3,488.1\n L...(Dec vs Nov)..........4,141.5 Vs...4,110.5\n Domestic Debt(Dec vs Nov).7,604.4 Vs...7,519.8\n\n Reuter\n&#3;\n\n',0
' &#2;\nFEDERAL RESERVE WEEKLY REPORT 3 - FEB 26\n    One week ended Feb 25       daily avgs-mlns\n Govts bought outright....193,374 down....1,342\n Govts repurchases............nil unch.........\n Agencies bought outright...7,719 unch.........\n Agencies repurchases.........nil unch.........\n Acceptances repurchases......nil unch.........\n Matched sales..............4,920 vs......3,788\n Including sales with cust..4,369 vs......3,788\n Other Fed assets..........16,806 down....1,161\n Other Fed liabilities......6,421 up........178\n Other deposits with Fed......399 up.........26\n\n Reuter\n&#3;\n\n',0
' &#2;\nFEDERAL RESERVE WEEKLY REPORT 4 - FEB 26\n    One week ended Feb 25       Daily avgs-Mlns\n Foreign deposits.............219 down.......29\n Gold stock................11,059 unch.........\n Custody holdings.........168,348 down......366\n Federal funds rate avg......5.95 vs.......6.21\n    Factors on Wednesday, Feb 25\n Bank borrowings............1,239 vs........446\n Including extended credits....92 vs........298\n Matched sales..............8,250 vs......2,998\n Including sales w/cust.....4,392 vs......2,998\n Float........................935 vs......2,125\n                                               \n Reuter\n&#3;\n\n',0
'WORLD MARKET PRICE FOR UPLAND COTTON - USDA The U.S. Agriculture Department\nannounced the prevailing world market price, adjusted to U.S.\nquality and location, for Strict Low Middling, 1-1/16 inch\nupland cotton at 52.69 cts per lb, to be in effect through\nmidnight March 5.\n    The adjusted world price is at average U.S. producing\nlocations (near Lubbock, Texas) and will be further adjusted\nfor other qualities and locations. The price will be used in\ndetermining First Handler Cotton Certificate payment rates.\n    Based on data for the week ended February 26, the adjusted\nworld price for upland cotton is determined as follows, in cts\nper lb --\n Northern European Price               66.32\n      Adjustments --\n Average U.S. spot mkt location 10.42 \n SLM 1-1/16 inch cotton          1.80 \n Average U.S. location           0.53\n Sum of adjustments              12.75\n Adjusted world price            53.57\n Reuter\n&#3;',0
'SUGAR QUOTA IMPORTS DETAILED -- USDA The U.S. Agriculture Department said\ncumulative sugar imports from individual countries during the\n1987 quota year, which began January 1, 1987 and ends December\n31, 1987 were as follows, with quota allocations for the quota\nyear in short tons, raw value --\n            CUMULATIVE     QUOTA 1987\n              IMPORTS     ALLOCATIONS\n ARGENTINA        nil          39,130\n AUSTRALIA        nil          75,530\n BARBADOS         nil           7,500\n BELIZE           nil          10,010\n BOLIVIA          nil           7,500\n BRAZIL           nil         131,950\n CANADA           nil          18,876\n                           QUOTA 1987\n              IMPORTS     ALLOCATIONS\n COLOMBIA         103          21,840\n CONGO            nil           7,599\n COSTA RICA       nil          17,583\n IVORY COAST      nil           7,500\n DOM REP        5,848         160,160\n ECUADOR          nil          10,010\n EL SALVADOR      nil          26,019.8\n FIJI             nil          25,190\n GABON            nil           7,500\n                           QUOTA 1987\n              IMPORTS     ALLOCATIONS\n GUATEMALA        nil          43,680\n GUYANA           nil          10,920\n HAITI            nil           7,500\n HONDURAS         nil          15,917.2\n INDIA            nil           7,500\n JAMAICA          nil          10,010\n MADAGASCAR       nil           7,500\n MALAWI           nil           9,,100\n                           QUOTA 1987\n               IMPORTS    ALLOCATIONS\n MAURITIUS         nil         10,920\n MEXICO             37          7,500\n MOZAMBIQUE        nil         11,830\n PANAMA            nil         26,390\n PAPUA NEW GUINEA  nil          7,500\n PARAGUAY          nil          7,500\n PERU              nil         37,310\n PHILIPPINES       nil        143,780\n ST.CHRISTOPHER-\n NEVIS             nil          7,500\n                          QUOTA 1987\n                IMPORTS  ALLOCATIONS\n SWAZILAND          nil         14,560\n TAIWAN             nil         10,920\n THAILAND           nil         12,740\n TRINIDAD-TOBAGO    nil          7,500\n URUGUAY            nil          7,500\n ZIMBABWE           nil         10,920\n\n Reuter\n&#3;',0
'GRAIN SHIPS LOADING AT PORTLAND There were seven grain ships loading and\nsix ships were waiting to load at Portland, according to the\nPortland Merchants Exchange.\n Reuter\n&#3;',1
'MERIDIAN BANCORP INC &lt;MRDN> SETS REGULAR PAYOUT Qtly div 25 cts vs 25 cts prior\n    Pay April one\n    Record March 15\n Reuter\n&#3;',0
'U.S. BANK DISCOUNT BORROWINGS 310 MLN DLRS U.S. bank discount window borrowings\nless extended credits averaged 310 mln dlrs in the week to\nWednesday February 25, the Federal Reserve said.\n    The Fed said that overall borrowings in the week fell 131\nmln dlrs to 614 mln dlrs, with extended credits up 10 mln dlrs\nat 304 mln dlrs. The week was the second half of a two-week\nstatement period. Net borrowings in the prior week averaged 451\nmln dlrs.\n    Commenting on the two-week statement period ended February\n25, the Fed said that banks had average net free reserves of\n644 mln dlrs a day, down from 1.34 billion two weeks earlier.\n    A Federal Reserve spokesman told a press briefing that\nthere were no large single day net misses in the Fed\'s reserve\nprojections in the week to Wednesday.\n    He said that natural float had been \"acting a bit\nstrangely\" for this time of year, noting that there had been\npoor weather during the latest week.\n    The spokesman said that natural float ranged from under 500\nmln dlrs on Friday, for which he could give no reason, to\nnearly one billion dlrs on both Thursday and Wednesday.\n    The Fed spokeman could give no reason for Thursday\'s high\nfloat, but he said that about 750 mln dlrs of Wednesday\'s\nfloat figure was due to holdover and transportation float at\ntwo widely separated Fed districts.\n    For the week as a whole, he said that float related as of\nadjustments were \"small,\" adding that they fell to a negative\n750 mln dlrs on Tuesday due to a number of corrections for\nunrelated cash letter errors in six districts around the\ncountry.\n    The spokesman said that on both Tuesday and Wednesday, two\ndifferent clearing banks had system problems and the securities\nand Federal funds wires had to be held open until about 2000 or\n2100 EST on both days.\n    However, he said that both problems were cleared up during\nboth afternoons and there was no evidence of any reserve\nimpact.\n    During the week ended Wednesday, 45 pct of net discount\nwindow borrowings were made by the smallest banks, with 30 pct\nby the 14 large money center banks and 25 pct by large regional\ninstitutions.\n    On Wednesday, 55 pct of the borrowing was accounted for by\nthe money center banks, with 30 pct by the large regionals and\n15 pct by the smallest banks.\n    The Fed spokesman said the banking system had excess\nreserves on Thursday, Monday and Tuesday and a deficit on\nFriday and Wedndsday. That produced a small daily average\ndeficit for the week as a whole.\n    For the two-week period, he said there were relatively high\nexcess reserves on a daily avearge, almost all of which were at\nthe smallest banks.\n Reuter\n&#3;',0
'AMERICAN EXPRESS &lt;AXP> SEEN IN POSSIBLE SPINNOFF American Express Co remained silent on\nmarket rumors it would spinoff all or part of its Shearson\nLehman Brothers Inc, but some analysts said the company may be\nconsidering such a move because it is unhappy with the market\nvalue of its stock.\n    American Express stock got a lift from the rumor, as the\nmarket calculated a partially public Shearson may command a\ngood market value, thereby boosting the total value of American\nExpress. The rumor also was accompanied by talk the financial\nservices firm would split its stock and boost its dividend.\n    American Express closed on the New York Stock Exchange at\n72-5/8, up 4-1/8 on heavy volume.\n    American Express would not comment on the rumors or its\nstock activity.\n    Analysts said comments by the company at an analysts\'\nmeeting Tuesday helped fuel the rumors as did an announcement\nyesterday of management changes.\n    At the meeting, company officials said American Express\nstock is undervalued and does not fully reflect the performance\nof Shearson, according to analysts.\n    Yesterday, Shearson said it was elevating its chief\noperating officer, Jeffery Lane, to the added position of\npresident, which had been vacant. It also created four new\npositions for chairmen of its operating divisions.\n    Analysts speculated a partial spinoff would make most\nsense, contrary to one variation on market rumors of a total\nspinoff.\n    Some analysts, however, disagreed that any spinoff of\nShearson would be good since it is a strong profit center for\nAmerican Express, contributing about 20 pct of earnings last\nyear.\n    \"I think it is highly unlikely that American Express is\ngoing to sell shearson,\" said Perrin Long of Lipper Analytical.\nHe questioned what would be a better investment than \"a very\nprofitable securities firm.\"\n    Several analysts said American Express is not in need of\ncash, which might be the only reason to sell a part of a strong\nasset.\n    But others believe the company could very well of\nconsidered the option of spinning out part of Shearson, and one\nrumor suggests selling about 20 pct of it in the market.\n    Larry Eckenfelder of Prudential-Bache Securities said he\nbelieves American Express could have considered a partial\nspinoff in the past.\n    \"Shearson being as profitable as it is would have fetched a\nbig premium in the market place. Shearson\'s book value is in\nthe 1.4 mln dlr range. Shearson in the market place would\nprobably be worth three to 3.5 bilion dlrs in terms of market\ncapitalization,\" said Eckenfelder.\n    Some analysts said American Express could use capital since\nit plans to expand globally.\n    \"They have enormous internal growth plans that takes\ncapital. You want your stock to reflect realistic valuations to\nenhance your ability to make all kinds of endeavors down the\nroad,\" said E.F. Hutton Group analyst Michael Lewis.\n    \"They\'ve outlined the fact that they\'re investing heavily\nin the future, which goes heavily into the international\narena,\" said Lewis. \"...That does not preclude acquisitions and\ndivestitures along the way,\" he said.\n    Lewis said if American Express reduced its exposure to the\nbrokerage business by selling part of shearson, its stock might\nbetter reflect other assets, such as the travel related\nservices business.\n    \"It could find its true water mark with a lesser exposure\nto brokerage. The value of the other components could command a\nhigher multiple because they constitute a higher percentage of\nthe total operating earnings of the company,\" he said.\n     Lewis said Shearson contributed 316 mln in after-tax\noperating earnings, up from about 200 mln dlrs in 1985.\n   \n Reuter\n&#3;',0
'U.S. M-1 MONEY SUPPLY ROSE 2.1 BILLION DLRS U.S. M-1 money supply rose 2.1 billion\ndlrs to a seasonally adjusted 736.7 billion dlrs in the\nFebruary 16 week, the Federal Reserve said.\n    The previous week\'s M-1 level was revised to 734.6 billion\ndlrs from 734.2 billion dlrs, while the four-week moving\naverage of M-1 rose to 735.0 billion dlrs from 733.5 billion.\n    Economists polled by Reuters said that M-1 should be\nanywhere from down four billion dlrs to up 2.3 billion dlrs.\nThe average forecast called for a 300 mln dlr M-1 rise.\n Reuter\n&#3;',0
'LIBERTY ALL-STAR &lt;USA> SETS INITIAL PAYOUT Liberty All-Star Equity Fund said\nit declared an initial dividend of five cts per share, payable\nApril two to shareholders of record March 20.\n    It said the dividend includes a quarterly dividend of three\ncts a share and a special payout of two cts a share, which\ncovers the period from November three, 1986, when the fund\nbegan operations, to December 31, 1986.\n    The fund said its quarterly dividend rate may fluctuate in\nthe future.\n Reuter\n&#3;',0
'CHINESE PORK OUTPUT SEEN LOWER -- USDA High feed prices will cause the\nChinese to reduce hog herd growth and pork production this\nyear, the U.S. Agriculture Department said.\n    In its World Production and Trade Report, the department\nsaid hog numbers at the start of 1987 were estimated at 331.6\nmln head, up slightly from 1986, and 10 mln head above earlier\nprojections for 1987.\n    Pork production in 1986 was up 4.2 pct to 17.25 mln tonnes,\nslightly below earlier estimates, it said.\n    For 1987, production is projected to fall to 17.05 mln\ntonnes.\n    Feed prices at the end of January were reported 35 to 40\npct above year-ago levels, the department said.\n Reuter\n&#3;',0
'IVACO SEES MINIMAL FIRST QUARTER EARNINGS (Ivaco Inc) said price pressure on steel\nproducts, particularly in the U.S., and the recent increase in\nthe value of the Canadian dollar is expected to result in\n\"minimal\" first quarter earnings.\n    It said subsequent quarters should show substantial\nimprovement from first quarter levels but 1987 earnings will\nnot reach 1986 levels as long as those conditions continue.\n     Ivaco earlier reported 1986 profit rose to 44.1 mln dlrs,\nafter a one mln dlr extraordinary gain, from 35.1 mln dlrs the\nprevious year. It said demand for the company\'s products are\ncontinuing at high levels and sales are expected to show\nfurther growth. Revenues last year rose to 1.94 billion dlrs\nfrom 1.34 billion dlrs in 1985.       \n Reuter\n&#3;',0
'U.S. GRAIN CARLOADINGS FALL IN WEEK U.S. grain carloadings totaled 26,108\ncars in the week ended February 21, down 2.2 pct from the\nprevious week but 22.8 pct above the corresponding week a year\nago, the Association of American Railroads reported.\n    Grain mill product loadings in the week totalled 11,382\ncars, down 1.8 pct from the previous week but 7.6 pct above the\nsame week a year earlier, the association said.\n Reuter\n&#3;',1
'HONG KONG FIRM UPS WRATHER&lt;WCO> STAKE TO 11 PCT Industrial Equity (Pacific) Ltd, a\nHong Kong investment firm, said it raised its stake in Wrather\nCorp to 816,000 shares, or 11.3 pct of the total outstanding\ncommon stock, from 453,300 shares, or 6.3 pct.\n    In a filing with the Securities and Exchange Commission,\nIndustrial Equity, which is principally owned by Brierley\nInvestments Ltd, a publicly held New Zealand company, said it\nbought 362,700 Wrather common shares between Feb 13 and 24 for\n6.6 mln dlrs.\n    When it first disclosed its stake in Wrather earlier this\nmonth, it said it bought the stock for investment purposes.\n Reuter\n&#3;',0
'COLECO INDUSTRIES INC &lt;CLO> 4TH QTR Shr loss 6.48 DLS VS PROFIT 23 CTS\n    Net loss 110.6 mln vs profit 4.1 mln\n    Revs 74.0 mln vs 152.0 mln\n    Year\n    Shr loss 6.52 dlrs vs profit 3.87 dlrs\n    net loss 111.2 mln vs profit 64.2 mln\n    Revs 501.0 mln vs 776.0 mln\n Reuter\n&#3;',0
'DIAMOND SHAMROCK (DIA) CUTS CRUDE PRICES Diamond Shamrock Corp said that\neffective today it had cut its contract prices for crude oil by\n1.50 dlrs a barrel.\n    The reduction brings its posted price for West Texas\nIntermediate to 16.00 dlrs a barrel, the copany said.\n    \"The price reduction today was made in the light of falling\noil product prices and a weak crude oil market,\" a company\nspokeswoman said.\n    Diamond is the latest in a line of U.S. oil companies that\nhave cut its contract, or posted, prices over the last two days\nciting weak oil markets.\n Reuter\n&#3;',0
'LIEBERT CORP &lt;LIEB> APPROVES MERGER Liebert Corp said its shareholders\napproved the merger of a wholly-owned subsidiary of Emerson\nElectric Co &lt;EMR>.\n    Under the terms of the merger, each Liebert shareholder\nwill receive .3322 shares of Emerson stock for each Liebert\nshare.\n Reuter\n&#3;',0
'NORTHERN TELECOM PROPOSES TWO-FOR-ONE STOCK SPLIT\n ',0
'COLECO INDUSTRIES &lt;CLC> SEES PROFIT IN 1987 Coleco Industries Inc said\nit expects to return to profitability in 1987.\n    Earlier, Coleco reported a net loss of 111.2 mln dlrs for\nthe year ended December 31 compared to a profit of 64.2 mln\ndlrs in the year earlier.\n    In a prepared statement, the company said the dramatic\nswing in operating results was due primarily to the steep\ndecline in sales of Cabbage Patch Kids products from 600 mln\ndlrs to 230 mln dlrs.\n    Coleco said it changed from a single product company to a\nmore diversified organization through four major acquisitions\nlast year.\n    Products from the new acquisitions and other new product\nintroductions are expected to enable it to return to\nprofitability, it said.\n    At the annual Toy Fair earlier this month, vice president\nMorton Handel said analysts\' 1987 projected earnings of 90 cts\na share on sales of 600 mln dlrs are reasonable.\n   \n Reuter\n&#3;',0
' &#2;\nFEDERAL RESERVE WEEKLY REPORT 1 - FEB 26\n    Two weeks ended Feb 25      daily avgs-mlns\n Net free reserves.............644 vs.....1,337\n Bank borrowings...............680 vs.......425\n Including seasonal loans.......81 vs........56\n Including extended loans......299 vs.......265\n Excess reserves.............1,025 vs.....1,497\n Required reserves (adj)....55,250 vs....55,366\n Required reserves..........55,513 vs....56,208\n Total reserves.............56,538 vs....57,705\n Non-borrowed reserves......55,859 vs....57,281\n Monetary base.............244,199 vs...244,925\n                         \n Reuter\n&#3;\n\n',0
' &#2;\nFEDERAL RESERVE WEEKLY REPORT 2 - FEB 26\n     Two weeks ended Feb 25                    \n Total vault cash...........25,237 vs....27,327\n Inc cash equal to req res..22,834 vs....24,680\n     One week ended Feb 25      Daily avgs-Mlns\n Bank borrowings...............614 down.....131\n Including seasonal loans.......88 up........14\n Including extended loans......304 up........10\n Float.........................511 down.....320\n Balances/adjustments........2,101 down......67\n Currency..................206,490 down.....519\n Treasury deposits...........4,208 down......63\n\n Reuter\n&#3;\n\n',0
'GULF APPLIED TECHNOLOGIES &lt;GATS> SELLS UNITS Gulf Applied Technologies Inc said it\nsold its subsidiaries engaged in pipeline and terminal\noperations for 12.2 mln dlrs.\n    The company said the sale is subject to certain post\nclosing adjustments, which it did not explain.\n Reuter\n&#3;',0
'INVESTMENT GROUP RAISES ROBESON &lt;RBSN> STAKE A group of affiliated Miami-based\ninvestment firms led by Fundamental Management Corp said it\nraised its stake in Robeson Industries Corp to 238,000 shares,\nor 14.6 pct of the total, from 205,000 or 12.8 pct.\n    In a filing with the Securities and Exchange Commission,\nthe group said it bought 32,800 Robeson common shares between\nJan 26 and Feb 9 for 175,691 dlrs.\n    The group said it may buy more shares and plans to study\nRobeson\'s operations. Afterwards it may recommend that\nmanagement make changes in its operations. Fundamental\nManagement Chairman Carl Singer was recently elected to the\nRobeson board.\n Reuter\n&#3;',0
'GAO LIKELY TO SHOW CERTS MORE COSTLY THAN CASH A study on grain certificates due out\nshortly from the Government Accounting Office (GAO) could show\nthat certificates cost the government 10 to 15 pct more than\ncash outlays, administration and industry sources said.\n    Analysis that the GAO has obtained from the Agriculture\nDepartment and the Office of Management and Budget suggests\nthat certificates cost more than cash payments, a GAO official\ntold Reuters.\n    GAO is preparing the certificate study at the specific\nrequest of Sen. Jesse Helms (R-N.C.), former chairman of the\nsenate agriculture committee.\n    The report, which will focus on the cost of certificates\ncompared to cash, is scheduled to be released in mid March.\n    The cost of certificates, said the GAO source, depends on\nthe program\'s impact on the USDA loan program.\n    If GAO determines that certificates encourage more loan\nentries or cause more loan forfeitures, then the net cost of\nthe program would go up. However, if it is determined that\ncertificates have caused the government grain stockpile to\ndecrease, the cost effect of certificates would be less.\n    GAO will not likely suggest whether the certificates\nprogram should be slowed or expanded, the GAO official said.\n    But a negative report on certificates \"will fuel the fire\nagainst certificates and weigh heavily on at least an increase\nin the certificate program,\" an agricultural consultant said.\n    The OMB is said to be against any expansion of the program,\nwhile USDA remains firmly committed to it.\n Reuter\n&#3;',1
'DAHLBERG INC &lt;DAHL> 4TH QTR NET Shr profit 10 cts vs loss seven cts\n    Net profit 286,870 vs loss 156,124\n    Revs 10.0 mln vs 7,577,207\n    Year\n    Shr profit five cts vs profit 42 cts\n    Net profit 160,109 vs profit 906,034\n    Revs 38.1 mln vs 31.2 mln\n    Avg shrs 2.9 mln vs 2.2 mln\n    NOTE: 1986 year includes 53 weeks.\n Reuter\n&#3;',0
'CITY NATIONAL CORP &lt;CTYN> RAISES DIVIDEND Shr 16 cts vs 13 cts\n    Pay April 15\n    Record March 31\n Reuter\n&#3;',0
'&lt;PAGE PETROLEUM LTD> YEAR LOSS Shr loss 1.98 dlrs vs loss 5.24 dlrs\n    Net loss 23.3 mln vs loss 44.8 mln\n    Revs 13.6 mln vs 29.6 mln\n    Note: 1986 net includes nine mln dlr extraordinary loss for\noil and gas writedowns and unrealized foreign exchange losses\nvs yr-ago loss of 32.5 mln dlrs.\n Reuter\n&#3;',0
'IDB COMMUNICATIONS GROUP INC &lt;IDBX> YEAR NET Period ended December 31.\n    Shr 25 cts vs 20 cts\n    Net 801,000 vs 703,000\n    Revs 6,318,000 vs 3,926,000\n Reuter\n&#3;',0
'ARMOR ALL PRODUCTS CORP &lt;ARMR> QUARTERLY DIV Qtly div ten cts vs ten cts\n    Pay April 1\n    Record March 9\n Reuter\n&#3;',0
'OPEC MAY HAVE TO MEET TO FIRM PRICES - ANALYSTS OPEC may be forced to meet before a\nscheduled June session to readdress its production cutting\nagreement if the organization wants to halt the current slide\nin oil prices, oil industry analysts said.\n    \"The movement to higher oil prices was never to be as easy\nas OPEC thought. They may need an emergency meeting to sort out\nthe problems,\" said Daniel Yergin, director of Cambridge Energy\nResearch Associates, CERA.\n    Analysts and oil industry sources said the problem OPEC\nfaces is excess oil supply in world oil markets.\n    \"OPEC\'s problem is not a price problem but a production\nissue and must be addressed in that way,\" said Paul Mlotok, oil\nanalyst with Salomon Brothers Inc.\n    He said the market\'s earlier optimism about OPEC and its\nability to keep production under control have given way to a\npessimistic outlook that the organization must address soon if\nit wishes to regain the initiative in oil prices.\n    But some other analysts were uncertain that even an\nemergency meeting would address the problem of OPEC production\nabove the 15.8 mln bpd quota set last December.\n    \"OPEC has to learn that in a buyers market you cannot have\ndeemed quotas, fixed prices and set differentials,\" said the\nregional manager for one of the major oil companies who spoke\non condition that he not be named. \"The market is now trying to\nteach them that lesson again,\" he added.\n    David T. Mizrahi, editor of Mideast reports, expects OPEC\nto meet before June, although not immediately. However, he is\nnot optimistic that OPEC can address its principal problems.\n    \"They will not meet now as they try to take advantage of the\nwinter demand to sell their oil, but in late March and April\nwhen demand slackens,\" Mizrahi said.\n    But Mizrahi said that OPEC is unlikely to do anything more\nthan reiterate its agreement to keep output at 15.8 mln bpd.\"\n    Analysts said that the next two months will be critical for\nOPEC\'s ability to hold together prices and output.\n    \"OPEC must hold to its pact for the next six to eight weeks\nsince buyers will come back into the market then,\" said Dillard\nSpriggs of Petroleum Analysis Ltd in New York.\n    But Bijan Moussavar-Rahmani of Harvard University\'s Energy\nand Environment Policy Center said that the demand for OPEC oil\nhas been rising through the first quarter and this may have\nprompted excesses in its production.\n    \"Demand for their (OPEC) oil is clearly above 15.8 mln bpd\nand is probably closer to 17 mln bpd or higher now so what we\nare seeing characterized as cheating is OPEC meeting this\ndemand through current production,\" he told Reuters in a\ntelephone interview.\n Reuter\n&#3;',0
'CENERGY &lt;CRG> REPORTS 4TH QTR NET PROFIT Cenergy Corp reported fourth quarter net\nincome of 790,000 dlrs or seven cts per share on revenues of\n7.7 mln dlrs.\n    For the year it reported a net loss of 6.5 mln dlrs or 70\ncts per share as a result of writedowns in the book value of\nits oil and gas properties in the first two quarters. Revenues\nwere 37 mln dlrs.\n    Following the company\'s fiscal year ended March 31, 1985,\nit changed to a calender year end.\n    For the nine months ended Dec 31, 1985, it reported a loss\nof 63.4 mln dlrs or 6.54 dlrs per share on revenues of 47.6 mln\ndlrs, which it said was a result of noncash writedowns of oil\nand gas properties.\n    For the year ended March 31, 1985, Cenergy reported net\nincome of 3,705,000 dlrs or 36 cts per share on revenues of 71\nmln dlrs.\n    The company said its reserves during the year fell to five\nmln barrels from 6.4 mln barrels of oil and to 60.1 bilion\ncubic feet of gas from 63.7 BCF. It said these reserves did not\ndisappear but are available to produce as prices recover.\n Reuter\n&#3;',0
'NORTHERN TELECOM LTD &lt;NT> DECLARES STOCK SPLIT Two-for-one stock split\n    Pay May 12\n    Note: split is subject to approval of shareholders at April\n23 annual meeting.\n    Company also said it will increase dividend on post-split\nshares to six cts from five cts.\n Reuter\n&#3;',0
'TORCHMARK &lt;TMK> AUTHORIZES STOCK REPURCHASE Torchmark Corp said its board\nauthorized the purchase from time to time of a significant\nportion of its 7-3/4 pct convertible subordinated debentures.\nAs of February 25, it said there were outstanding 150 mln dlrs\nof the principal amount of debenures.\n    The company also said it plans to redeem the debentures on\nJune eight.\n    It also declared a regular quarterly dividend of 25 cts per\nshare on its common payable May one to shareholders of record\nApril 10.\n Reuter\n&#3;',0
'TECHAMERICA GROUP INC &lt;TCH> 4TH QTR LOSS Shr loss six cts vs not available\n    Net loss 562,231 vs profit 10,253\n    Revs 8,871,874 vs 9,549,308\n    Year\n    Shr loss 60 cts vs loss nine cts\n    Net loss 5,058,145 vs loss 766,185\n    Revs 34.3 mln vs 35.5 mln\n   \n Reuter\n&#3;',0
'WILFRED AMERICAN EDUCATIONAL &lt;WAE> REGULAR DIV Qtly div three cts vs three cts prior\n    Pay April three\n    Record March 13\n Reuter\n&#3;',0
'DREXEL OFFICIAL HAS STAKE IN EPSILON DATA &lt;EPSI> A senior official of Drexel Burnham\nLambert Inc and his father told the Securities and Exchange\nCommission they have acquired 258,591 shares of Epsilon Data\nManagement Inc, or 9.4 pct of the total outstanding.\n    Kenneth Thomas, senior vice president-investments at\nDrexel\'s Los Angeles office, and his father, retired university\nprofessor C.A. Thomas, said they bought the stake for 2.1 mln\ndlrs primarily for investment purposes.\n    They said they may buy more stock or sell some or all of\ntheir stake, depending on market conditions, but have no plans\nto seek control of the company.\n Reuter\n&#3;',0
'&lt;NOVA> WINS GOVERNMENT OKAY FOR HUSKY &lt;HYO> DEAL Nova, the Canadian company that\nowns 56 pct of Husky Oil Ltd, said it received government\napproval for a transaction under which &lt;Union Faith Canada\nHolding Ltd> would buy a 43 pct stake in Husky.\n    Nova said the Minister of Regional and Industrial\nExpansion, Michel Cote, ruled that Union Faith\'s purchase of\nthe Husky stake would not result in Husky ceding control to a\nnon-Canadian company. It said this ruling was a key condition\nin completing the deal.\n    Union Faith is equally owned by &lt;Hutchison Whampoa Ltd> and\n&lt;Hong Kong Electric Holdings Ltd>.\n    Under the agreement with Union Faith, Husky will become a\nprivate company with Union Faith and Nova each holding 43 pct\nof its stock.\n    Nine pct of Husky would be owned by relatives of Li\nKa-Shing, chairman of Hutchison, and five pct by the Canadian\nImperial Bank of Commerice.\n Reuter\n&#3;',0
'POTOMAC ELECTRIC POWER CO &lt;POM> JANUARY NET Oper shr 27 cts vs 29 cts\n    Oper net 13.5 mln vs 14.6 mln\n    Revs 104.6 mln vs 110.3 mln\n    12 mths\n    Oper shr 4.10 dlrs vs 3.66 dlrs\n    Oper net 205 mln vs 186.8 mln\n    Revs 1.4 billion vs 1.3 billion\n    NOTE: 1986 12 mths oper net excludes extraordinary gain of\n21.7 mln dlrs or 46 cts per share from sale of Virginia service\nterritory to Virginia Power.\n Reuter\n&#3;',0
'SUFFIELD FINANCIAL &lt;SSBK> GETS FED APPROVAL Suffield Financial Corp said the\nFederal Reserve Board approved its application to acquire\nCoastal Bancorp &lt;CSBK>, Portland, Me.\n    Suffield said it still needs the approval of the\nsuperintendent of Maine\'s banking department.\n Reuter\n&#3;',0
'AFG INDUSTRIES INC &lt;AFG> QUARTERLY DIVIDEND Qtly div four cts vs four cts\n    Pay April 3\n    Record March 23\n Reuter\n&#3;',0
'&lt;GSW INC> YEAR NET Oper shr 2.16 dlrs vs 2.07 dlrs\n    Oper net 8,037,000 vs 7,710,000\n    Revs 136.4 mln vs 133.3 mln\n    Note: 1986 net excludes extraordinary gain of 13 mln dlrs\nor 3.50 dlrs shr from sale of &lt;Camco Inc> shares vs yr-ago loss\nof 4.3 mln dlrs or 1.14 dlrs shr.\n Reuter\n&#3;',0
'SANTA ANITA REALTY &lt;SAR> QUARTERLY DIVIDEND Qtly div 51 cts vs 51 cts\n    Pay April 9\n    Record March 25\n    (Santa Anita Realty Enterprises Inc)\n Reuter\n&#3;',0
'LIQUID AIR CORP &lt;LANA> QUARTERLY DIVIDEND Qtly div 40 cts vs 40 cts\n    Pay March 31\n    Record March 16\n Reuter\n&#3;',0
'(MARSHALL STEEL LTD) YEAR NET Oper shr five cts vs 36 cts\n    Oper net 508,000 vs 3,450,000\n    Revs 296.7 mln vs 298.0 mln\n    Note: former name Marshall Drummond McCall Inc.\n    Results include extraordinary gains of 952,000 dlrs or 11\ncts per share in 1986 and 2,569,000 dlrs or 29 cts in 1985 from\nincome tax reduction.              \n Reuter\n&#3;',0
'MARSHALL STEEL DETAILS GAIN FROM UNIT SALE (Marshall Steel Ltd), formerly Marshall\nDrummond McCall Inc, said it will report a 17 mln dlr net gain\nbefore taxes this year from the sale of its Drummond McCall\ndivision, which was sold effective January one.                \n   \n Reuter\n&#3;',0
'MAYFAIR INDUSTRIES INC &lt;MAYF> 4TH QTR NET Oper shr 21 cts vs 18 cts\n    Oper net 659,000 vs 523,000\n    Revs 7,866,000 vs 5,503,000\n    Avg shrs 3,141,217 vs 2,925,294\n    12 mths\n    Oper shr 70 cts vs 46 cts\n    Oper net 2,075,000 vs 1,358,000\n    Revs 25.9 mln vs 19.3 mln\n    Avg shrs 2,980,247 vs 2,925,294\n    Note: Excludes tax gain of 295,000 dlrs for qtr and year.\n Reuter\n&#3;',0
'LNG IMPORTS FROM ALGERIA UNLIKELY IN 1987 Liquefied natural gas imports from\nAlgeria are unlikely to happen in 1987 even though its\neconomically feasible, U.S. industry analysts sources said.\n    Youcef Yousfi, director-general of Sonatrach, the Algerian\nstate petroleum agency, indicated in a television interview in\nAlgiers that such imports would be made this year.\n    \"Contract negotiations, filing with the U.S. government and\nthe time required to restart mothballed terminals will delay\nthe import until 1988/1989,\" Daniel Tulis, a natural gas\nanalyst with Shearson Lehman Bros. said.\n    Sonatrach is currently negotiating with two of its former\ncustomers, Panhandle Eastern &lt;PEL> and Distrigas, a subsidiary\nof Cabot Corp &lt;CBT> to resume LNG export, company officials\ntold Reuters. A third, El Paso Gas, a subsidiary of Burlington\nNorthern &lt;BNI>, has expressed no interest.\n    Industry analysts said some imports of Algerian LNG were\nfeasible. \"On a marginal cost basis, the companies that have\nmade capital investment to handle LNG import can operate\nprofitably even in the current price environment,\"  Frank\nSpadine, an energy economist with Bankers Trust, said.\n   Analysts did not forsee a major impact from Algerian imports\non U.S. prices which are currently soft but expected to trend\nhigher by the end of 1987.\n    A decline in gas drilling and the time lag to bring Gulf of\nMexico productions onstream will tighten gas supplies and firm\nprices, Shearson\'s Tulis said.\n   In this context, Algerian LNG import would be a source of\nsupplemental supply to U.S. domestic production, he added.\n    Company sources currently in talks with Algeria agree,\nsaying that Algerian LNG would only serve to meet peak demand.\n    Company sources also said that any negotiations with\nAlgeria would emphasize looser arrangements which would relate\nvolumes to market requirements and prices to U.S. spot market\nvalues.\n Reuter\n&#3;',0
'SWISS ECONOMY IN EXCELLENT CONDITION, OECD SAYS Switzerland\'s economy, combining low\nunemployment, financial stability and a large external payments\nsurplus, is in excellent condition and faces a satisfactory\nfuture, the Organisation for Economic Cooperation and\nDevelopment, OECD, said.\n    This reflected the success of stable and relatively tight\nfiscal and monetary policies followed by the government, it\nsaid.\n    The OECD, in its annual report on Switzerland, picked out\nsome signs of a slowdown in activity and a slight pick-up in\ninflation this year, but said these gave no cause for concern.\n    The study forecast a decline in Gross Domestic Product\ngrowth to 1.75 pct this year from an estimated two pct in 1986\nand a small rise in consumer price inflation to 1.25 pct after\nlast year\'s sharp fall to 0.75 pct from 3.6 pct in 1985.\n    But it said job creation should continue to absorb a modest\nincrease in the workforce, leaving the unemployment rate\nunchanged at around one pct, the lowest in the 24-industrial\nnation OECD area.\n    Assuming an average exchange rate of 1.71 Swiss francs to\nthe dollar this year, against 1.69 in the second half of 1986,\nthe report forecast a 2.75 pct rise in exports and a 3.5 pct\nrise in imports this year after rises of 3.25 pct and 6.5 pct\nrespectively in 1986.\n    The faster growth of imports compared with exports this\nyear and last, reflecting buoyant private consumption, meant\nthat the contribution of the foreign payments balance to GDP\nwould shrink in both years.\n    But \"given Switzerland\'s large external surplus, there\nshould be no concern if domestic demand grows faster than\nGDP...Which, if only in a small way, would contribute to\nimproving international balances,\" the OECD said.\n    Real private consumption appeared to have been unusually\nbuoyant last year, with a 3.25 pct growth rate, after several\nyears of relative weakness, it noted.\n    In 1987 private consumption was expected to slow somewhat\nto a 2.25 pct growth rate, but should still outstrip overall\nGDP, it added.\n    The outlook for investment in plant and machinery remained\nbright into 1987, and with capacity use at near record levels\nlast year there was scope for rationalisation and modernisation\nin both the industry and service sectors, it said.\n    As a consequence, growth in machinery and equipment\ninvestment is likely to decelerate only slightly this year\nafter vigorous growth in 1986.\n    But the report raised a questionmark over the prospects for\ntourism and the banking industry, two major service sector\nearners of foreign exchange.\n    The long-term appreciation of the Swiss Franc, and the\naccelerating deregulation of foreign banking markets, could\nlead to a loss of international market share for both, it said.\n    Particularly for the banks, \"recent developments in\ninternational financial markets give rise to the question\nwhether the Swiss financial system, which has shown substantial\nflexibility in the past, is adapting itself at the speed\nrequired ... To preserve its competitive position,\" it said.\n REUTER\n&#3;',0
'U.S. WHEAT BONUS TO SOVIET CALLED DORMANT The U.S. Agriculture Department is not\nactively considering offering subsidized wheat to the Soviet\nUnion under the export enhancement program (EEP), senior USDA\nofficials said.\n    However, grain trade analysts said the proposal has not\nbeen ruled out and that an offer might be made, though not in\nthe very near future.\n    \"The grain companies are trying to get this fired up again,\"\nan aide to Agriculture Secretary Richard Lyng said. \"But there\njust isn\'t much talk about it, informally or formally.\"\n    Most analysts interviewed by Reuters were more confident\nthan USDA officials that bonus wheat would be offered to the\nSoviets, even though U.S. officials did not make such an offer\nwhen they held grain talks with Soviet counterparts earlier\nthis week.\n    But administration and private sources agreed that if the\nReagan administration did decide to offer subsidized wheat to\nMoscow, it could take several months.\n    \"I just don\'t see any proposal like that sailing through any\ninteragency process,\" the aide to Lyng said.\n    \"An export enhancement offer is not consummated overnight,\"\nsaid one former USDA official, who noted that the\nadministration took three months to decide in favor of selling\nChina wheat under the subsidy program.\n    An official representing a large grain trade company said\ndeliberations within USDA might be nudged along by members of\nCongress, a number of whom urged USDA this week to make a wheat\nsubsidy offer to the Soviets.\n    But Lyng\'s aide said that during a day-long visit to\nCapitol Hill yesterday, House members did not press the\nsecretary on the subsidy question a single time.\n    The administration\'s interagency trade policy review group,\ncomprised of subcabinet-level officials, has not been asked to\nclear a request to offer Moscow wheat under the EEP, officials\nat the U.S. Trade Representative\'s Office said.\n    In their talks this week, the two sides discussed the\nadministration\'s previous EEP offer but did not talk about any\nnew initiative. One USDA official who took part in the\nconsultations this week described them as an exchange of \"calm,\nbasic, factual economics.\"\n    Another USDA official said there was \"not even an informal\nsuggestion or hint\" that the Soviets would live up to their\npledge to buy four mln tonnes of wheat this year if they were\ngranted more favorable terms.\n    USDA and private sources agreed that consideration of an\nEEP initiative by interagency review groups likely would be\ndelayed because of disarray within the White House stemming\nfrom the Iran arms affair.\n Reuter\n&#3;',1
'ALATENN RESOURCES INC &lt;ATNG> 4TH QTR NET Shr 75 cts vs 52 cts\n    Net 1,699,124 vs 1,177,786\n    Revs 45.6 mln vs 31.6 mln\n    12 mths\n    Shr 2.22 dlrs vs 2.20 dlrs\n    Net 5,057,292 vs 4,961,085\n    Revs 130.2 mln vs 126.7 mln\n Reuter\n&#3;',0
'VERSATILE TO SELL UNIT TO VICON &lt;Versatile Corp> said\nit agreed in principle to sell its Alberta-based Versatile\nNoble Cultivators Co division to Vicon Inc, of Ontario, for\nundisclosed terms.\n    The division manufactures tillage and spraying equipment.\n Reuter\n&#3;',0
'VIDEOTRON BUYS INTO EXHIBIT COMPANY (Groupe Videotron Ltd) said it agreed to\nbuy 50 pct of (Groupe Promexpo Inc), a company which\nspecializes in product exhibits, for three mln dlrs.           \n  \n Reuter\n&#3;',0
'&lt;MEMOTEC DATA INC> YEAR NET Shr 81 cts vs 66 cts\n    Net 5,011,000 vs 2,314,000\n    Revs 57.3 mln vs 17.6 mln\n    Note: results include extraordinary gains of 1,593,000 dlrs\nor 26 cts a share in 1986 and 451,000 dlrs or 13 cts a share in\n1985.\n Reuter\n&#3;',0
'TEXACO CANADA CUTS CRUDE PRICES 64 CANADIAN CTS/BBL, PAR GRADE TO 22.26 CANADIAN DLRS\n ',0
'TEXACO CANADA &lt;TXC> LOWERS CRUDE POSTINGS Texaco Canada said it lowered the\ncontract price it will pay for crude oil 64 Canadian cts a\nbarrel, effective today.\n    The decrease brings the company\'s posted price for the\nbenchmark grade, Edmonton/Swann Hills Light Sweet, to 22.26\nCanadian dlrs a bbl.\n    Texaco Canada last changed its crude oil postings on Feb\n19.\n Reuter\n&#3;',0
'USDA SAID UNLIKELY TO BROADEN CORN BONUS OFFER The U.S. Agriculture Department\nprobably will not offer a two dlr per bushel bonus payment to\ncorn farmers for any erodible cropland they enrolled in the\nconservation reserve program last year, an aide to USDA\nSecretary Richard Lyng said.\n    Sen. Charles Grassley (R-Iowa) said yesterday that Lyng had\nindicated he would consider giving those farmers the same two\ndlr bonus offered corn farmers who are signing up for the 1987\nprogram this month.\n    But the aide to Lyng said it was doubtful that the\ndepartment would offer a retroactive bonus to farmers who\nenrolled land in the 10-year conservation reserve last year.\n    \"How are you going to stop the tide,\" he said, referring to\ndemands that would follow from other commodity groups.\n Reuter\n&#3;',1
'MARATHON PETROLEUM REDUCES CRUDE POSTINGS Marathon Petroleum Co said it reduced\nthe contract price it will pay for all grades of crude oil one\ndlr a barrel, effective today.\n    The decrease brings Marathon\'s posted price for both West\nTexas Intermediate and West Texas Sour to 16.50 dlrs a bbl. The\nSouth Louisiana Sweet grade of crude was reduced to 16.85 dlrs\na bbl.\n    The company last changed its crude postings on Jan 12.\n Reuter\n&#3;',0
'&lt;GEORGE WESTON LTD> YEAR NET Shr 2.31 dlrs vs 1.96 dlrs\n    Net 119.0 mln vs 101.0 mln\n    Revs 10.03 billion vs 8.88 billion\n Reuter\n&#3;',0
'RELIEF TO U.S. CORN/OATS GROWERS SAID LIKELY U.S. farmers who in the past have\ngrown oats for their own use but failed to certify to the\ngovernment that they had done so probably will be allowed to\ncontinue planting that crop and be eligible for corn program\nbenefits, an aide to Agriculture Secretary Richard Lyng said.\n    Currently a farmer, to be eligible for corn program\nbenefits, must restrict his plantings of other program crops to\nthe acreage base for that crop.\n    Several members of Congress from Iowa have complained that\nfarmers who inadvertantly failed to certify that they had grown\noats for their own use in the past now are being asked to halt\noats production or lose corn program benefits.\n    USDA likely will allow historic oats farmers to plant oats\nbut not extend the exemption to all farmers, Lyng\'s aide said.\n Reuter\n&#3;',1
'N.Z. MONEY SUPPLY RISES 3.6 PCT IN DECEMBER New Zealand\'s broadly defined,\nseasonally adjusted M-3 money supply grew an estimated 3.6 pct\nin December after rising a revised 2.4 pct in November and 4.04\npct in December last year, the Reserve Bank said in a\nstatement.\n    It said unadjusted M-3 increased to an estimated 30.07\nbillion N.Z. Dlrs from a revised 28.30 billion in November and\n25.53 billion in December 1985.\n    Year-on-year M-3 rose 17.77 pct from a revised 15.34 pct in\nNovember and 20.50 pct in December 1985.\n    Narrowly defined year-on-year M-1 growth was 15.89 pct\nagainst a revised 27.52 pct in November and 12.3 pct a year\nearlier.\n    M-1 grew to an estimated 5.03 billion dlrs against a\nrevised 4.77 billion in November and 4.34 billion in December\n1985.\n    Year-on-year private sector credit grew 30.68 pct in\nDecember against a revised 22.30 pct in November and 23.2 pct\nin December 1985. Private sector credit grew to 22.24 billion\ndlrs from a revised 20.92 billion in November and 17.01 billion\nin December 1985.\n Reuter\n&#3;',0
'CIRCUIT SYSTEMS &lt;CSYI> BUYS BOARD MAKER Circuit Systems Inc said it has\nbought all of the stock of (Ionic Industries Inc) in exchange\nfor 3,677,272 shares of its common.\n    Following the exchange there will be 4,969,643 shares of\nCircuit Systems stock outstanding. Ionic holders will own about\n74 pct of the outstanding stock of Circuit Systems, it said.\n    Ionic, a maker of circuit boards, had revenues of 8.4 mln\ndlrs and pretax profits of 232,000 dlrs in 1986, up from\nrevenues of 5.9 mln and pretax profits of 204,000 dlrs in 1985,\nCircuit Systems said.\n Reuter\n&#3;',0
'FALLING SOYBEAN CRUSH RATIOS CUT OUTPUT The sharp decline in soybean crush ratios\nseen in the last few weeks, accelerating in recent days, has\npushed margins below the cost of production at most soybean\nprocessing plants and prompted many to cut output of soybean\nmeal and oil.\n    The weekly U.S. soybean crush rate was reported by the\nNational Soybean Processors Association this afternoon at 21.78\nmln bushels, down from the 22 mln bushel plus rate seen over\nthe past two months when crush margins surged to the best\nlevels seen in over a year.\n    Active soymeal export loadings at the Gulf had pushed\nsoybean futures and premiums higher, prompting a pick-up in the\nweekly crush number.\n    However, much of that export demand seems to have been met,\nwith most foreign meal users now waiting for the expected surge\nin shipments of new crop South American soymeal over the next\nfew months.\n    U.S. processors are now finding domestic livestock feed\ndemand is very light for this time of year due to the milder\nthan normal winter, so they steadily dropped offering prices in\nan attempt to find buying interest, soyproduct dealers said.\n    Soybean meal futures have also steadily declined in recent\nweeks, setting a new contract low of 139.70 dlrs per ton in the\nnearby March contract today.\n    \"Many speculators down here bought March soymeal and sold\nMay, looking for no deliveries (on first notice day tomorrow,\nwhich would cause March to gain on deferreds),\" one CBT crush\ntrader said.\n    \"But they\'ve been bailing out this week because the March\nhas been acting like there will be a lot delivered, if not\ntomorrow, then later in the month,\" he added.\n    As a result of the weakness in soymeal, the March crush\nratio (The value of soyproducts less the cost of the soybeans)\nfell from the mid 30s earlier this month to 22.6 cents per\nbushel today, dropping over five cents in just the last two\ndays.\n    The May crush ended today just over 17 cents, so no\nprocessors will want to lock in a ratio at that unprofitable\nlevel, the trader said. Hopefully, they will now start to cut\nback production to get supplies in line with demand, he added.\n    With futures down, processors are finding they must bid\npremiums for cash soybeans, further reducing crush margins.\n    A central Illinois processor is only making about 30 cents\nfor every bushel of soybeans crushed at current prices, down\nsharply from levels just seen just a few weeks ago and below\nthe average cost of production, cash dealers said.\n    Most soybean processing plants are still in operation, with\nlittle talk of taking temporary down-time, so far. But\nprocessors will start halting production in the next few weeks\nit they continue to face unprofitable margins, they added.\n Reuter\n&#3;',0
'MAIL BOXES ETC &lt;MAIL> 3RD QTR JAN 31 NET Shr 23 cts vs 18 cts\n    Net 509,144 vs 277,834\n    Revs 2,258,341 vs 1,328,634\n    Avg shrs 2,177,553 vs 1,564,605\n    Nine mths\n    Shr 55 cts vs 42 cts\n    Net 1,150,633 vs 649,914\n    Revs 6,169,168 vs 3,178,115\n Reuter\n&#3;',0
'MUNSINGWEAR INC &lt;MUN> 4TH QTR JAN 3 LOSS Shr loss 32 cts vs loss seven cts\n    Net loss 1,566,000 vs loss 292,000\n    Revs 39.4 mln vs 34.7 mln\n    Year\n    Shr profit 79 cts vs profit 74 cts\n    Net profit 3,651,000 vs profit 3,020,000\n    Revs 147.9 mln vs 114.2 mln\n    Avg shrs 4,639,000 vs 4,059,000\n    Note: Per shr adjusted for 3-for-2 stock split July 1986\nand 2-for-1 split May 1985.\n Reuter\n&#3;',0
'FED DATA SUGGEST STABLE U.S. MONETARY POLICY Latest Federal Reserve data suggest that\nthe central bank voted to maintain the existing degree of\npressure on banking reserves at its regular policy-making\nmeeting two weeks ago, money market economists said.\n    \"The numbers were a little disappointing, but I think we\ncan take Mr Volcker at his word when he said that nothing had\nchanged,\" said Bob Bannon of Security Pacific National Bank.\n    Fed Chairman Paul Volcker told a Congressional committee\nlast Thursday that the Fed\'s policy \"has been unchanged up to\ntoday.\"\n    Although Volcker\'s statement last Thursday allayed most\nfears that the Fed had marginally tightened its grip on\nreserves to help an ailing dollar, many economists still wanted\nconfirmation of a steady policy in today\'s data, which covered\nthe two-week bank statement period ended yesterday.\n    This need for additional reassurance was made all the more\nacute by the Fed\'s decision yesterday to drain reserves from\nthe banking system by arranging overnight matched sale-purchase\nagreements for the first time since April of last year,\neconomists added.\n    Today\'s data showed that the draining action was for a\nfairly large 3.9 billion dlrs, economists said.\n    \"The one thing that caught my eye were the relatively\nsizeable matched sales on Wednesday,\" said Dana Johnson of\nFirst National Bank of Chicago. \"But there was a clearly\njustified need for them. There was nothing ominous.\"\n    \"The Fed couldn\'t have waited until the start of the new\nstatement period today. If it had, it would have missed its\n(reserve) projections,\" added Security Pacific\'s Bannon.\n    A Fed spokesman told reporters that there were no large\nsingle-day net miss in reserve projections in the latest week.\n    Economists similarly shrugged off slightly higher-than-\nexpected adjusted bank borrowings from the Fed\'s discount\nwindow, which averaged 310 mln dlrs a day in the latest week,\ncompared with many economists\' forecasts of about 200 mln.\n    For the two-week bank statement period as a whole, the\ndaily borrowing average more than doubled to 381 mln dlrs from\n160 in the prior period.\n    \"There were wire problems at two large banks on Tuesday and\nWednesday, so I am not too bothered about the borrowings,\" said\nScott Winningham of J.S. Winningham and Co. The Wednesday\naverage rose to 946 mln dlrs from 148 mln a week earlier.\n    Lending further support to the stable policy view was a\nrelatively steady federal funds rate of about six pct in the\nlatest week and persistently high levels of excess reserves in\nthe banking system, economists said.\n    \"For the time being, the Fed is following a neutral path,\nwith fed funds at about six to 6-1/8 pct,\" said Darwin Beck of\nFirst Boston Corp. \"I expect it to continue in that vein.\"\n    \"Excess reserves fell but they are still over a billion\ndlrs,\" added First Chicago\'s Johnson. Banks\' excess reserves\naveraged 1.03 billion dlrs a day in the latest statement\nperiod, down from 1.50 billion in the previous one.\n    After the Fed declined to assign a 1987 target growth range\nto the wayward M-1 money supply measure last week, little\nattention was paid to a steeper-than-anticipated 2.1 billion\ndlr jump in the week ended February 16.\n    Looking ahead, economists said the Fed will have to tread a\nfine line between the dollar\'s progress in the international\ncurrency markets and the development of the domestic economy.\n    \"The market has perhaps exaggerated the dollar\'s effect on\nFed policy,\" said First Chicago\'s Johnson. \"Of course, it will\ntake the dollar into account in future policy decisions but if\nthe economy is weak, it won\'t pull back from easing.\"\n Reuter\n&#3;',0
'FRANCE FACES PRESSUE TO CHANGE POLICIES France\'s right wing government is facing\ngrowing pressure to modify its economic policies after revising\ndown its 1987 growth targets and revising up its inflation\nforecasts for this year.\n    Moving reluctantly into line with most private sector\nforecasts the government yesterday raised its 1987 inflation\nestimate a half percentage point to 2.5 per cent and cut its\neconomic growth estimate to between two and 2.8 per cent from a\n2.8 per cent target written into the annual budget last\nseptember.\n    Finance Minister Edouard Balladur said the revised figures\nwould not push the government off its chosen mix of price\nderegulation, budget-cutting rigour and pay restraint.\n    But Trade Union leaders served immediate notice they would\npush to protect the purchasing power of their members, raising\nthe spectre of a vicious spiral of wage and price rises.\n    And bank economists contacted by Reuters said they believed\nPrime Minister Jacques Chirac could be forced by slow growth\nand rising unemployment to reflate the economy later this year,\nperhaps in the autumn, to boost his prospects in Presidential\nelections due by April 1988.\n    \"The outlook is more worrying than it was a few weeks ago,\"\nsaid Societe Generale economist Alain Marais. \"We have the\nimpression it may be difficult to get even two per cent growth\nthis year.\"\n    \"The big question is whether the government\'s policy of wage\nmoderation will be maintained,\" he added.\n    The government has set public sector wage rises at aboout\n1.7 per cent this year, with a three per cent ceiling for rises\njustified by increased productivity.\n    But the head of the socialist CFDT union federation, Edmond\nMaire, meeting with Chirac today, renewed union demands already\nrejected by the government for indexation clauses to be built\ninto future pay contracts to safeguard workers against higher\nprices.\n    Calling the government\'s policies \"unbalanced and unjust,\" he\nalso demanded investment incentives to boost employment. He\nannounced after his meeting that Chirac had told him the\ngovernment would spend two billion francs on a series of\nmeasures to boost employment and training\n    Andre Bergeron, a widely respected leader of the moderate\nForce Ouvriere labour group, put similar demands to Chirac\nearlier in the week while the Communist-led CGT, the largest of\nFrance\'s unions, declared the defence of its members earnings\nits top priority.\n    But with unemployment nearing 11 per cent last month, and\nstill rising, government supporters and some economic analysts\nsaid they were confident Chirac could resist union pay demands.\n    \"Salary indexation was ended by the previous Socialist\ngovernment and I dont think this administration is going to\nreverse that,\" commented Michel Develle, economist at\nrecently-privatised Banque Paribas.\n    Damaging transport and electricity strikes over Christmas\nand the New Year, partly blamed by the government for higher\ninflation, had undermined the unions power and popularity, he\nsaid.\n    Develle said Paribas expected inflation to rise even more\nthan the governments revised forecast, perhaps to 2.6 or 2.7\nper cent this year against last years 2.1 per cent.\n    \"But that would still be an exceptional achievement\nconsidering that for the first time since the Second World War\nall french prices have been freed,\" he commented.\n    Finance Ministry officials said that the governments\nabolition of price and rent controls last year was responsible\nfor nearly a quarter of a 0.9 per cent surge in January living\ncosts.\n    But they claimed it was a once-off phenomenon that should\nhave no knock-on impact on the rest of the year.\n    Both Marais and Develle said they agreed with that, so long\nas the government kept wages under control.\n    Prices could rise 1.5 per cent in the first three months of\n1987 and two per cent in the first half year, fractionally more\nthan forecast this week by the National Statistics Institute,\nINSEE,  Marais said. But the second half year should be better,\nhe added.\n    Ironically, one side effect of higher inflation could be to\nhelp the government achieve its aim of cutting the state budget\ndeficit, several analysts said.\n    So long as public sector wages are held down, higher Value\nAdded Tax receipts resulting from rising prices should offset a\nloss in revenues that otherwise would result from slower than\nexpected growth, they said.\n   \n Reuter\n&#3;',0
'GTI CORP &lt;GTI> 4TH QTR OPER NET Oper shr profit six cts vs loss two cts\n    Oper net profit 225,000 vs loss 91,000\n    Revs 4,814,000 vs 3,339,000\n    Year\n    Oper shr profit 12 cts vs loss two cts\n    Oper net profit 415,000 vs loss 73,000\n    Revs 16.4 mln vs 16.9 mln\n    Note: data does not include from discontinued operations,\n4th qtr 1986 gain of 632,000 dlrs, or 19 cts per shr; 4th qtr\n1985 loss of 250,000 dlrs, or seven cts per shr; 1986 year loss\nof 4,054,000 dlrs, or 1.17 dlrs per shr; and 1985 year loss of\n606,000 dlrs, or 17 cts per shr.\n Reuter\n&#3;',0
'HOUSTON OIL &lt;HO> RESERVES STUDY COMPLETED Houston Oil Trust said that independent\npetroleum engineers completed an annual study that estimates\nthe trust\'s future net revenues from total proved reserves at\n88 mln dlrs and its discounted present value of the reserves at\n64 mln dlrs.\n    Based on the estimate, the trust said there may be no money\navailable for cash distributions to unitholders for the\nremainder of the year.\n    It said the estimates reflect a decrease of about 44 pct in\nnet reserve revenues and 39 pct in discounted present value\ncompared with the study made in 1985.\n Reuter\n&#3;',0
'FAMOUS RESTAURANTS INC &lt;FAMS> 4TH QTR LOSS Shr loss 2.07 dlrs vs loss eight cts\n    Net loss 11,445,000 vs loss 501,000\n    Revs 14.5 mln vs 11.0 mln\n    Year\n    Shr loss 1.91 dlrs vs profit four cts\n    Net loss 12,427,000 vs profit 211,000\n    Revs 60.8 mln vs 51.5 mln\n    Note: includes non-recurring charges of 12,131,000 dlrs in\nthe 4th qtr and 12,500,000 dlrs in the year for reserve for\nunderperforming restaurants.\n Reuter\n&#3;',0
'JAPAN CONSUMER PRICES FALL 0.4 PCT IN JANUARY Japan\'s unadjusted consumer price index\n(base 1985) fell 0.4 pct to 99.7 in January from the previous\nmonth, the government\'s Management and Coodination Agency said.\n    The fall compares with a decline of 0.2 pct in December.\n    The January index compared with a year earlier was down 1.1\npct, the first drop larger than 1.0 pct since it fell 1.3 pct\nin September 1958.\n    Food costs rose in January from December but prices fell\nfor clothing, footwear and utilities, causing the overall\ndecline for the month.\n    Housing, medical and educations costs increased in January\ncompared with a year earlier but the cost of utilities,\ngasoline and vegetables fell.\n    The unadjusted consumer price index for the Tokyo area\n(base 1985) was down 0.1 pct in mid-February from a month\nearlier at 100.2, reflecting lower prices for food, clothing\nand footwear. Compared with a year earlier, the index was down\n0.7 pct due to lower vegetable, fuel oil and utility costs.\n REUTER\n&#3;',0
'AVERY &lt;AVY> SETS TWO FOR ONE STOCK SPLIT Avery said its board authorizerd\na two for one stock split, an increased in the quarterly\ndividend and plans to offer four mln shares of common stock.\n    The company said the stock split is effective March 16 with\na distribution of one additional share to each shareholder of\nrecord March 9.\n    It said the quarterly cash dividend of 10.5 cts per share\non the split shares, a 10.5 pct increase from the 19 cts per\nshare before the split.\n    Avery said it will register with the Securities and\nExchange Commission shrortly to offer four mln additional\ncommon shares. It will use the proceeds to repay debt, finance\nrecent acquisitions and for other corporate purposes.\n Reuter\n&#3;',0
' &#2;\nFEDERAL RESERVE WEEKLY M-2 COMPONENTS - FEB 26\n    Week Feb 16 vs Feb 9 (DAILY AVG BILLIONS)\n          Seasonally Adjusted      Unadjusted\n Currency......186.9 vs 186.8....185.6 vs 185.7\n Demand Depos..300.3 vs 300.0....291.5 vs 295.6\n Other Check...242.9 vs 241.2....240.0 vs 242.7\n Savings.......164.3 vs 163.2....162.8 vs 161.9\n Small Time....362.2 vs 362.9....361.9 vs 362.7\n MMDAs...(Commercial Bank Only)..378.2 vs 379.1\n O/N Repos........................58.9 vs  59.0\n O/N Euros........................18.6 vs  19.2\n Reuter\n&#3;\n\n',0
'N.Z. CENTRAL BANK SEES SLOWER MONEY, CREDIT GROWTH Monetary and credit growth rates in\nNew Zealand are not expected to continue at current levels\nfollowing the Reserve Bank\'s move to tighten liquidity late\nlast year, Reserve Bank Governor Spencer Russell said.\n    The monetary and credit growth figures for the December\nquarter were probably artifically inflated by unusually high\ngrowth in inter-institutional lending activity on the short\nterm money market, Russell said in a statement.\n    The bank moved to tighten liquidity when the initial signs\nof the recent expansion became apparent in September and\nOctober last year, Russell said.\n    Broadly defined M-3 figures released today showed growth of\n17.8 pct in the year ended December compared with 13.1 pct in\nthe year ended September.\n    Annual growth of private sector credit in calendar 1986 was\n30.7 pct compared with 16.5 pct in the September year.\n    \"Available evidence suggests that corporate customers,\nincluding non-bank financial institutions, have been exploiting\ndifferences between interest rates on overdrafts with trading\nbanks and rates in the call market,\" Russell said.\n REUTER\n&#3;',0
'AVERAGE YEN CD RATES FALL IN LATEST WEEK Average interest rates on yen certificates\nof deposit, CD, fell to 4.27 pct in the week ended February 25\nfrom 4.32 pct the previous week, the Bank of Japan said.\n    New rates (previous in brackets), were -\n    Average CD rates all banks 4.27 pct (4.32)\n    Money Market Certificate, MMC, ceiling rates for the week\nstarting from March 2          3.52 pct (3.57)\n    Average CD rates of city, trust and long-term banks\n    Less than 60 days          4.33 pct (4.32)\n    60-90 days                 4.13 pct (4.37)\n    Average CD rates of city, trust and long-term banks\n    90-120 days             4.35 pct (4.30)\n    120-150 days            4.38 pct (4.29)\n    150-180 days            unquoted (unquoted)\n    180-270 days            3.67 pct (unquoted)\n    Over 270 days           4.01 pct (unquoted)\n    Average yen bankers\' acceptance rates of city, trust and\nlong-term banks\n    30 to less than 60 days unquoted (4.13)\n    60-90 days              unquoted (unquoted)\n    90-120 days             unquoted (unquoted)\n REUTER\n&#3;',0
'JAPAN EXPECTED TO CUT BASE RATE FOR STATE BODIES Japan is expected to cut the base lending\nrate for state financial institutions to 5.5 pct from 6.2 as\npart of the recent pact by major industrial nations in Paris,\nFinance Ministry sources said.\n    They said the cut is based on a revision of the Trust Fund\nBureau Law, which should be approved by parliament on March 3,\nabolishing the 6.05 pct minimum interest rate on deposits with\nthe bureau.\n    The bureau channels funds to government financial\ninstitutions for public works and other official uses, they\nsaid.\n    The base lending rate for state bodies such as the Japan\nDevelopment Bank, People\'s Finance Corp and the finance\ncorporations of local public enterprises usually moves in\ntandem with long-term prime rates, the sources said.\n    However, it was impossible for them to follow the last cut,\nto 5.8 pct from 6.2 pct on January 28, because the Trust Fund\nBureau rate was legally set at 6.05 pct.\n    The ministry will abolish the minimum rate and introduce a\nmarket-related one to resolve the problem and stimulate the\ndomestic economy, they said.\n    On Tuesday, the ministry allowed long-term bankers to cut\ntheir prime to a record low of 5.5 pct, effective February 28.\nThe move suggested it had reached agreement with depositors\nusing the bureau, the postal savings system of the Posts and\nTelecommunications Ministry and the Japan welfare annuity of\nthe Ministry of Health and Welfare, the sources said.\n    These ministries are trying to determine which market rates\nshould be considered when setting the bureau\'s deposit rate,\nthe ministry sources said.\n    Coupon rates on new 10-year government bonds, minus 0.1\npercentage points, is the likeliest choice, they added.\n REUTER\n&#3;',0
'AUSTRALIA\'S KEATING CHANGES ECONOMIC FORECASTS Domestic demand is now expected to make\nno contribution to Australian economic growth in fiscal\n1986/87, ending June 30, while net exports will account for all\nof the overall increase, Treasurer Paul Keating said here.\n    However, he did not say in his speech to the Economic\nPlanning Advisory Council (EPAC) if the forecast 2.25 pct rise\nin gross domestic product (gdp) had been revised.\n    But Keating said domestic demand could fall slightly this\nfinancial year and net export growth will provide the total\nsource of gdp growth.\n    The August budget had forecast domestic demand would\ncontribute 0.75 percentage points to non-farm gdp growth of 2.5\npct while net exports would account for 1.75 points.\n    Keating said the overall impact of the changed economic\nparameters is welcome as it appears to have contributed to a\nslightly more rapid correction in the current account deficit\nthan first anticipated.\n    \"The government initially forecast a current account deficit\nfor 1986/87 of 14.75 billion -- our present expectation is that\nthe result will be somewhat lower, around 14 billion,\" he said.\n    Partial indicators released since the last meeting of EPAC\nin December indicate that the 1986/87 budget strategy is\nbroadly on track, Keating said.\n    \"They indicate that domestic demand has been a little more\nsluggish than was expected at budget time,\" he said.\n    \"On the other hand, net exports seem to be expanding by more\nthan expected at budget time, and this is underpinning growth\nin domestic production and employment.\"\n    Keating said it now seems likely that the 1986/87 inflation\nrate will exceed the budget forecast of eight pct.\n    \"Nevertheless, there is likely to be a marked slowing in\ninflation over coming quarters as depreciation and budgetary\neffects wane,\" he said.\n    Keating said the government expects economic growth to pick\nup moderately in 1987/88 due to a further significant rise in\nnet exports and a very moderate but positive contribution from\nprivate domestic demand.\n    He said domestic demand growth will be due to a\nstrengthening in real household disposable income.\n    The moderate rise in economic growth next financial year\nshould be sufficient to sustain employment growth at a level\nbroadly equivalent to that of the current fiscal year.\n    \"The current account deficit will continue to show\nimprovement in 1987/88,\" Keating said.\n    \"As the impact of the exchange rate depreciations of recent\nyears recede further, and given continued effective wage\nrestraint, inflation should moderate markedly in 1987/88,\" he\nsaid.\n REUTER\n&#3;',0
'THAI RICE EXPORTS RISE IN WEEK ENDED FEBRUARY 24 Thailand exported 84,960 tonnes of rice\nin the week ended February 24, up from 80,498 the previous\nweek, the Commerce Ministry said.\n    It said government and private exporters shipped 27,510 and\n57,450 tonnes respectively.\n    Private exporters concluded advance weekly sales for 79,448\ntonnes against 79,014 the previous week.\n    Thailand exported 689,038 tonnes of rice between the\nbeginning of January and February 24, up from 556,874 tonnes\nduring the same period last year. It has commitments to export\nanother 658,999 tonnes this year.\n REUTER\n&#3;',1
'TOKYO GRAIN EXCHANGE TO RAISE MARGIN REQUIREMENTS The Tokyo Grain Exchange said it will raise\nthe margin requirement on the spot and nearby month for U.S.\nAnd Chinese soybeans and red beans, effective March 2.\n    Spot April U.S. Soybean contracts will increase to 90,000\nyen per 15 tonne lot from 70,000 now. Other months will stay\nunchanged at 70,000, except the new distant February\nrequirement, which will be set at 70,000 from March 2.\n    Chinese spot March will be set at 110,000 yen per 15 tonne\nlot from 90,000. The exchange said it raised spot March\nrequirement to 130,000 yen on contracts outstanding at March\n13. Chinese nearby April rises to 90,000 yen from 70,000.\n    Other months will remain unchanged at 70,000 yen except new\ndistant August, which will be set at 70,000 from March 2.\n    The new margin for red bean spot March rises to 150,000 yen\nper 2.4 tonne lot from 120,000 and to 190,000 for outstanding\ncontracts as of March 13.\n    The nearby April requirement for red beans will rise to\n100,000 yen from 60,000, effective March 2.\n    The margin money for other red bean months will remain\nunchanged at 60,000 yen, except new distant August, for which\nthe requirement will also be set at 60,000 from March 2.\n REUTER\n&#3;',0
'PRODUCER SPLIT HEATS UP COFFEE QUOTA TALKS Talks on the possibility of reintroducing\nglobal coffee export quotas have been extended into today, with\nsparks flying yesterday when a dissident group of exporters was\nnot included in a key negotiating forum.\n    The special meeting of the International Coffee\nOrganization (ICO) council was called to find a way to stop a\nprolonged slide in coffee prices.\n    However, delegates said no solution to the question of how\nto implement quotas was yet in sight.\n    World coffee export quotas -- the major device used to\nregulate coffee prices under the International Coffee Agreement\n-- were suspended a year ago when prices soared in reaction to\na drought which cut Brazil\"s output by nearly two thirds.\n    Brazil is the world\"s largest coffee producer and exporter.\n    Producers and consumers now are facing off over the\nquestion of how quotas should be calculated under any future\nquota distribution scheme, delegates said.\n    Tempers flared late Saturday when a minority group of eight\nproducing countries was not represented in a contact group of\nfive producer and five consumer delegates plus alternates which\nwas set up to facilitate debate.\n    The big producers \"want to have the ball only in their court\nand it isn\"t fair,\" minority producer spokesman Luis Escalante of\nCosta Rica said.\n    The majority producer group has proposed resuming quotas\nApril 1, using the previous ad hoc method of carving up quota\nshares, with a promise to try to negotiate basic quotas before\nSeptember 30, delegates said.\n    Their plan would perpetuate the status quo, allowing Brazil\nto retain almost all of its current 30 pct share of the export\nmarket, Colombia 17 pct, Ivory Coast seven pct and Indonesia\nsix pct, with the rest divided among smaller exporters.\n    But consuming countries and the dissident producer group\nhave tabled separate proposals requiring quotas be determined\nby availability, using a formula incorporating exportable\nproduction and stocks statistics.\n    Their proposals would give Brazil a smaller quota share and\nColombia and Indonesia a larger share, and bring a new quota\ndistribution scheme into effect now rather than later.\n    Brazil has so far been unwilling to accept any proposal\nthat would reduce its quota share, delegates said.\n    Delegates would not speculate on prospects for agreement on\na quota package. \"Anything is possible at this phase,\" even\nadjournment of the meeting until March or April, one said.\n    If the ICO does agree on quotas, the price of coffee on the\nsupermarket shelf is not likely to change sinnificantly as a\nresult, industry sources said.\n    Retail coffee prices over the past year have remained about\nsteady even though coffee market prices have tumbled, so an\nupswing probably will not be passed onto the consumer either,\nthey said.\n REUTER\n&#3;',0
'ITALIAN TREASURY CUTS INTEREST ON CERTIFICATES The Italian treasury said annual coupon\nrates payable March 1988 on two issues of long-term treasury\ncertificates (CCTs) would be cut by about four percentage\npoints compared with rates this March.\n    Coupon rates on 10-year certificates maturing March 1995\nwill fall to 9.80 pct from 13.65 pct and rates on 10-year\nissues maturing in March 1996 would fall to 10.05 pct from\n14.30 pct.\n    The Treasury also cut by 0.60 point six-monthly coupons\npayable this September on six issues maturing between September\n1988 and September 1991.\n    The issues carry terms of between five and seven years and\nwill have coupon rates of between 4.85 and 5.65 pct in\nSeptember compared with 5.45 and 6.25 pct this March.\n REUTER\n&#3;',0
'INDONESIAN AGRICULTURE GROWTH EXPECTED TO SLOW Indonesia\"s agriculture sector will grow\nby just 1.0 pct in calendar 1987, against an estimated 2.4 pct\nin 1986 as the production of some commodities stagnates or\ndeclines, the U.S. Embassy said in a report.\n    Production of Indonesia\"s staple food, rice, is forecast to\nfall to around 26.3 mln tonnes from an embassy estimate of\n26.58 mln tonnes in 1986, according to the annual report on\nIndonesia\"s agricultural performance.\n    The government officially estimates 1986 rice production at\n26.7 mln tonnes, with a forecast 27.3 mln tonnes output in\n1987.\n    The report says wheat imports are likely to fall to 1.5 mln\ntonnes in calendar 1987 from 1.69 mln tonnes in 1986 because of\na drawdown on stocks.\n    \"Growth prospects for agriculture in 1987 do not look\npromising as rice production is forecast to decline and the\nproduction of sugarcane, rubber and copra show little or no\ngain,\" the report says.\n    \"The modest overall increase which is expected will be due\nto significant gains in production of corn soybeans, palm oil\nand palm kernels.\"\n    Constraints to significant overall increases in\nagricultural output include a shortage of disease resistant\nseeds, limited fertile land, insect pests and a reluctance by\nfarmers to shift from rice production to other crops, the\nreport underlines.\n    The fall in rice production is caused by an outbreak of\npests known as \"wereng\" or brown plant hoppers in 1986 which\nlargely offset gains in yields.\n    The outbreak has forced the government to ban the use of 57\ninsecticides on rice because it was believed the wereng are now\nresistant to these varieties, and to use lower-yielding, more\nresistant rice types.\n    The government is depending on increased production of\nexport commodities such as coffee, tea, rubber, plywood and\npalm oil to offset revenue losses brought on by falling crude\noil prices.\n    Palm oil production is expected to increase by over 7.0 pct\nin 1987 to 1.45 mln tonnes from 1.35 mln, with exports rising\nto an estimated 720,000 tonnes from 695,000 tonnes in 1986, the\nreport says.\n    But while production of soybeans in 1987/88 (Oct-Sept) will\nrise to 1.075 mln tonnes from 980,000 in 1986/87, imports will\nalso rise to supply a new soybean crushing plant.\n    The report says that imports of wheat, soybeans, soybean\nmeal and cotton are not likely to decline as a result of last\nSeptember\"s 31 pct devaluation of the rupiah because of a rise\nin domestic demand.\n    The report said that Indonesia\"s overall economic\nperformance in calendar 1986 was about zero or even a slight\nnegative growth rate, the lowest rate of growth since the\nmid-1960s. It compares with 1.9 pct growth in 1985 and 6.7 pct\nin 1984.\n    The dramatic fall in oil prices last year was responsible\nfor the slump.\n REUTER\n&#3;',1
'KUWAIT SAYS NO PLANS FOR EMERGENCY OPEC TALKS Kuwait\"s Oil Minister, in remarks\npublished today, said there were no plans for an emergency OPEC\nmeeting to review oil policies after recent weakness in world\noil prices.\n    Sheikh Ali al-Khalifa al-Sabah was quoted by the local\ndaily al-Qabas as saying: \"None of the OPEC members has asked\nfor such a meeting.\"\n    He denied Kuwait was pumping above its quota of 948,000\nbarrels of crude daily (bpd) set under self-imposed production\nlimits of the 13-nation organisation.\n    Traders and analysts in international oil markets estimate\nOPEC is producing up to one mln bpd above a ceiling of 15.8 mln\nbpd agreed in Geneva last December.\n    They named Kuwait and the United Arab Emirates, along with\nthe much smaller producer Ecuador, among those producing above\nquota. Kuwait, they said, was pumping 1.2 mln bpd.\n    \"This rumour is baseless. It is based on reports which said\nKuwait has the ability to exceed its share. They suppose that\nbecause Kuwait has the ability, it will do so,\" the minister\nsaid.\n    Sheikh Ali has said before that Kuwait had the ability to\nproduce up to 4.0 mln bpd.\n    \"If we can sell more than our quota at official prices,\nwhile some countries are suffering difficulties marketing their\nshare, it means we in Kuwait are unusually clever,\" he said.\n    He was referring apparently to the Gulf state of qatar,\nwhich industry sources said was selling less than 180,000 bpd\nof its 285,000 bpd quota, because buyers were resisting\nofficial prices restored by OPEC last month pegged to a marker\nof 18 dlrs per barrel.\n    Prices in New York last week dropped to their lowest levels\nthis year and almost three dollars below a three-month high of\n19 dollars a barrel.\n    Sheikh Ali also delivered \"a challenge to any international\noil company that declared Kuwait sold below official prices.\"\n    Because it was charging its official price, of 16.67 dlrs a\nbarrel, it had lost custom, he said but did not elaborate.\n    However, Kuwait had guaranteed markets for its oil because\nof its local and international refining facilities and its own\ndistribution network abroad, he added.\n    He reaffirmed that the planned meeting March 7 of OPEC\"s\ndifferentials committee has been postponed until the start of\nApril at the request of certain of the body\"s members.\n    Ecuador\"s deputy energy minister Fernando Santos Alvite said\nlast Wednesday his debt-burdened country wanted OPEC to assign\na lower official price for its crude, and was to seek this at\ntalks this month of opec\"s pricing committee.\n    Referring to pressure by oil companies on OPEC members, in\napparent reference to difficulties faced by Qatar, he said: \"We\nexpected such pressure. It will continue through March and\nApril.\" But he expected the situation would later improve.\n REUTER\n&#3;',0
'INDONESIA SEEN AT CROSSROADS OVER ECONOMIC CHANGE Indonesia appears to be nearing a\npolitical crossroads over measures to deregulate its protected\neconomy, the U.S. Embassy says in a new report.\n    To counter falling oil revenues, the government has\nlaunched a series of measures over the past nine months to\nboost exports outside the oil sector and attract new\ninvestment.\n    Indonesia, the only Asian member of OPEC and a leading\nprimary commodity producer, has been severely hit by last year\"s\nfall in world oil prices, which forced it to devalue its\ncurrency by 31 pct in September.\n    But the U.S. Embassy report says President Suharto\"s\ngovernment appears to be divided over what direction to lead\nthe economy.\n    \"(It) appears to be nearing a crossroads with regard to\nderegulation, both as it pertains to investments and imports,\"\nthe report says. It primarily assesses Indonesia\"s agricultural\nsector, but also reviews the country\"s general economic\nperformance.\n    It says that while many government officials and advisers\nare recommending further relaxation, \"there are equally strong\npressures being exerted to halt all such moves.\"\n    \"This group strongly favours an import substitution economy,\"\nthe report says.\n    Indonesia\"s economic changes have been welcomed by the World\nBank and international bankers as steps in the right direction,\nthough they say crucial areas of the economy like plastics and\nsteel remain highly protected, and virtual monopolies.\n    Three sets of measures have been announced since last May,\nwhich broadened areas for foreign investment, reduced trade\nrestrictions and liberalised imports.\n    The report says Indonesia\"s economic growth in calendar 1986\nwas probably about zero, and the economy may even have\ncontracted a bit. \"This is the lowest rate of growth since the\nmid-1960s,\" the report notes.\n    Indonesia, the largest country in South-East Asia with a\npopulation of 168 million, is facing general elections in\nApril.\n    But the report hold out little hope for swift improvement\nin the economic outlook. \"For 1987 early indications point to a\nslightly positive growth rate not exceeding one pct. Economic\nactivity continues to suffer due to the sharp fall in export\nearnings from the petroleum industry.\"\n    \"Growth in the non-oil sector is low because of weak\ndomestic demand coupled with excessive plant capacity, real\ndeclines in construction and trade, and a reduced level of\ngrowth in agriculture,\" the report states.\n    Bankers say continuation of present economic reforms is\ncrucial for the government to get the international lending its\nneeds.\n    A new World Bank loan of 300 mln dlrs last month in balance\nof payments support was given partly to help the government\nmaintain the momentum of reform, the Bank said.\n REUTER\n&#3;',0
'CHINESE WHEAT CROP THREATENED BY PESTS, DISEASE China\'s wheat crop this year is seriously\nthreatened by plant pests and diseases, the New China News\nAgency said.\n    More than 5 mln hectares of wheat-producing land in North\nChina could be affected because relatively warm and dry weather\nhad allowed bacteria and insect eggs to survive the winter, the\nagency added.\n    China\"s Ministry of Agriculture, Animal Husbandry and\nFisheries has called for measures including the timely supply\nof pesticides to farmers to combat the threat, it said.\n REUTER\n&#3;',1
'SAUDI RIYAL DEPOSIT RATES REMAIN FIRM Saudi riyal interbank deposits were\nsteady at yesterday\'s higher levels in a quiet market.\n    Traders said they were reluctant to take out new positions\namidst uncertainty over whether OPEC will succeed in halting\nthe current decline in oil prices.\n    Oil industry sources said yesterday several Gulf Arab\nproducers had had difficulty selling oil at official OPEC\nprices but Kuwait has said there are no plans for an emergency\nmeeting of the 13-member organisation.\n    A traditional Sunday lull in trading due to the European\nweekend also contributed to the lack of market activity.\n    Spot-next and one-week rates were put at 6-1/4, 5-3/4 pct\nafter quotes ranging between seven, six yesterday.\n    One, three, and six-month deposits were quoted unchanged at\n6-5/8, 3/8, 7-1/8, 6-7/8 and 7-3/8, 1/8 pct respectively.\n    The spot riyal was quietly firmer at 3.7495/98 to the\ndollar after quotes of 3.7500/03 yesterday.\n REUTER\n&#3;',0
'QATAR UNVEILS BUDGET FOR FISCAL 1987/88 The Gulf oil state of Qatar, recovering\nslightly from last year\'s decline in world oil prices,\nannounced its first budget since early 1985 and projected a\ndeficit of 5.472 billion riyals.\n    The deficit compared with a shortfall of 7.3 billion riyals\nin the last published budget for 1985/86.\n    In a statement outlining the budget for the fiscal year\n1987/88 beginning today, Finance and Petroleum Minister Sheikh\nAbdul-Aziz bin Khalifa al-Thani said the government expected to\nspend 12.217 billion riyals in the period.\n    Projected expenditure in the 1985/86 budget had been 15.6\nbillion riyals.\n    Sheikh Abdul-Aziz said government revenue would be about\n6.745 billion riyals, down by about 30 pct on the 1985/86\nprojected revenue of 9.7 billion.\n    The government failed to publish a 1986/87 budget due to\nuncertainty surrounding oil revenues.\n    Sheikh Abdul-Aziz said that during that year the government\ndecided to limit recurrent expenditure each month to\none-twelfth of the previous fiscal year\'s allocations minus 15\npct.\n    He urged heads of government departments and public\ninstitutions to help the government rationalise expenditure. He\ndid not say how the 1987/88 budget shortfall would be covered.\n    Sheikh Abdul-Aziz said plans to limit expenditure in\n1986/87 had been taken in order to relieve the burden placed on\nthe country\'s foreign reserves.\n    He added in 1987/88 some 2.766 billion riyals had been\nallocated for major projects including housing and public\nbuildings, social services, health, education, transport and\ncommunications, electricity and water, industry and\nagriculture.\n    No figure was revealed for expenditure on defence and\nsecurity. There was also no projection for oil revenue.\n    Qatar, an OPEC member, has an output ceiling of 285,000\nbarrels per day.\n    Sheikh Abdul-Aziz said: \"Our expectations of positive signs\nregarding (oil) price trends, foremost among them OPEC\'s\ndetermination to shoulder its responsibilites and protect its\nwealth, have helped us make reasonable estimates for the coming\nyear\'s revenue on the basis of our assigned quota.\"\n REUTER\n&#3;',0
'GULF BOND, STOCK MARKETS LAG BEHIND, GIB SAYS Gulf money markets have grown reasonably\nwell during the past decade, but bond and stock markets remain\nto a large extent fragmented and lag behind, &lt;Gulf\nInternational Bank BSC> (GIB) said.\n    The bank\'s economist Henry Azzam said in a review of Gulf\ncapital markets that investors have to relinquish traditional\ninvestment vehicles such as real estate, foreign currency bank\naccounts and precious metals.\n    \"Greater financial sophistication is needed coupled with\nmore diversified capital market instruments and a change in the\ndisclosure requirements on company accounts,\" he said.\n    The GIB study reviewed capital markets under three\ncategories -- money markets, stock and bond markets.\n    Azzam said Gulf states had been making greater use of\nshort-term money market instruments and banks in the region had\nfloated various euronotes and underwriting facilities.\n    \"Nevertheless, bond and stock markets remain, to a large\nextent, fragmented and lagging behind,\" he said.\n    Most debt in the region is still raised by syndicated loans\nand bank facilities and very few companies had made use of\nstock or bond issues. Only Kuwait has an official stock\nexchange, while other Gulf nations have yet to establish\nexchanges.\n    But with dwindling financial surpluses in the Gulf,\ngovernments are actively pursuing ways to develop capital\nmarkets and set up domestic stock exchanges, Azzam said.\n    He said recession stemming from sliding oil prices had\n\"clearly had a negative impact on the development of capital\nmarkets in the region.\"\n    In addition, family firms are reluctant to go public,\nfinancial awareness among investors is still lacking and\ninvestment analysis and corporate reporting standards lack\ndepth. A sharp fall in share prices in the early 1980s prompted\ninvestors to hold on to shares hoping for an eventual recovery.\n    Azzam said the absence of proper commercial law in some\nGulf countries and authorities\' apparent reluctance to adopt\nfinancial innovations had also hampered capital markets.\n    He called for clearly defined laws governing incorporation\nof joint stock companies and the flotation of debt instruments.\n    Azzam said capital market instruments should be made\navailable to all citizens and institutions of Gulf Cooperation\nCouncil (GCC) states -- Bahrain, Kuwait, Qatar, Oman, Saudi\nArabia and the United Arab Emirates (UAE). Some moves had been\ntaken in this direction, with Bahrain allowing GCC nationals to\nown up to 25 pct of locally incorporated companies.\n    Azzam said Gulf money markets had received greater depth\nfrom the introduction of treasury bill offerings in Bahrain and\nthe expansion of securities repurchase regulations in Saudi\nArabia.\n    But he added there is \"no bond market to speak of\" in Saudi\nArabia, Qatar, Oman or the UAE, with the last Saudi riyal\ndenominated bond issued in 1978.\n    While Bahrain plans an official stock exchange and trading\nin Saudi Arabia has picked up, establishment of formal\nexchanges in Qatar, Oman and the UAE does not appear imminent,\nAzzam said.\n REUTER\n&#3;',0
'SAUDI ARABIA REITERATES COMMITMENT TO OPEC PACT Saudi Arabian Oil Minister Hisham Nazer\nreiterated the kingdom\'s commitment to last December\'s OPEC\naccord to boost world oil prices and stabilise the market, the\nofficial Saudi Press Agency SPA said.\n    Asked by the agency about the recent fall in free market\noil prices, Nazer said Saudi Arabia \"is fully adhering by the\n... Accord and it will never sell its oil at prices below the\npronounced prices under any circumstance.\"\n    Nazer, quoted by SPA, said recent pressure on free market\nprices \"may be because of the end of the (northern hemisphere)\nwinter season and the glut in the market.\"\n    Saudi Arabia was a main architect of the December accord,\nunder which OPEC agreed to lower its total output ceiling by\n7.25 pct to 15.8 mln barrels per day (bpd) and return to fixed\nprices of around 18 dlrs a barrel.\n    The agreement followed a year of turmoil on oil markets,\nwhich saw prices slump briefly to under 10 dlrs a barrel in\nmid-1986 from about 30 dlrs in late 1985. Free market prices\nare currently just over 16 dlrs.\n    Nazer was quoted by the SPA as saying Saudi Arabia\'s\nadherence to the accord was shown clearly in the oil market.\n    He said contacts among members of OPEC showed they all\nwanted to stick to the accord.\n    In Jamaica, OPEC President Rilwanu Lukman, who is also\nNigerian Oil Minister, said the group planned to stick with the\npricing agreement.\n    \"We are aware of the negative forces trying to manipulate\nthe operations of the market, but we are satisfied that the\nfundamentals exist for stable market conditions,\" he said.\n    Kuwait\'s Oil Minister, Sheikh Ali al-Khalifa al-Sabah, said\nin remarks published in the emirate\'s daily Al-Qabas there were\nno plans for an emergency OPEC meeting to review prices.\n    Traders and analysts in international oil markets estimate\nOPEC is producing up to one mln bpd above the 15.8 mln ceiling.\n    They named Kuwait and the United Arab Emirates, along with\nthe much smaller producer Ecuador, among those producing above\nquota. Sheikh Ali denied that Kuwait was over-producing.\n REUTER\n&#3;',0
'COFFEE QUOTA TALKS CONTINUE, NO ACCORD SEEN LIKELY The International Coffee Organization\n(ICO ) council talks on reintroducing export quotas continued\nwith an extended session lasting late into Sunday night, but\ndelegates said prospects for an accord between producers and\nconsumers were diminishing by the minute.\n    The special meeting, called to stop the prolonged slide in\ncoffee prices, was likely to adjourn sometime tonight without\nagreement, delegates said.\n    The council is expected to agree to reconvene either within\nthe next six weeks or in September, they said.\n    The talks foundered on Sunday afternoon when it became\napparent consumers and producers could not compromise on the\nformula for calculating any future quota system, delegates\nsaid.\n    Coffee export quotas were suspended a year ago when prices\nsoared in response to a drought which cut Brazil\'s crop by\nnearly two-thirds. Brazil is the world\'s largest coffee\nproducer and exporter.\n REUTER\n&#3;',0
'CANADA-EGYPT WHEAT NEGOTIATIONS TO CONTINUE Canadian and Egyptian wheat negotiators\nfailed to conclude an agreement on Canadian wheat exports to\nEgypt during talks last week, but the Canadian team will return\nto Cairo for further negotiations, Canadian embassy officials\nsaid.\n    An embassy official declined to identify which issues\nremained to be resolved and when the talks would resume.\n    In a five-year protocol signed in 1985, Cairo agreed to\npurchase 500,000 tonnes of Canadian wheat a year.\n REUTER\n&#3;',1
'INDONESIAN WHEAT IMPORTS EXPECTED TO FALL IN 1987 Indonesia\'s wheat imports are expected\nto fall to 1.5 mln tonnes in calendar 1987 from 1.69 mln in\n1986, the U.S. Embassy\'s annual agriculture report said.\n    It said the drop was expected, because there will be a\ndrawdown on stocks built up near the end of 1986.\n    It said wheat stocks at the end of 1986 were 390,000\ntonnes, up from 223,000 at end-1985. It forecast end-1987\nstocks at around 290,000 tonnes.\n    The main suppliers in 1986 were Australia (44 pct), the\nU.S. (29 pct), Canada (12 pct), Argentina (8 pct) and Saudi\nArabia (5 pct).\n REUTER\n&#3;',1
'ZAMBIA TO RETAIN CURRENCY AUCTION, SAYS KAUNDA Zambia will retain its foreign-exchange\nauction system despite the suspension of weekly auctions since\nJanuary 24, President Kenneth Kaunda said.\n    \"We have not run away from the auction. It hasn\'t been\nabolished at all,\" he told Reuters in an interview.\n    He said the system would be reintroduced after current\ntalks with the World Bank and the International Monetary Fund\nand, he hoped, would be backed by fresh foreign aid funds.\n    Kaunda dismissed central bank statements the new auction\nsystem would be used to allocate foreign exchange to private\nbidders but not to fix the exchange rate.\n    Kaunda said the auction system had faltered because of the\ngovernment\'s shortage of foreign exchange to meet demand.\n    It was suspended when the kwacha\'s rapid devaluation and\nstrong fluctuations made economic planning almost impossible\nfor the government and the private sector, he said.\n    Weekly foreign-exchange auctions began in October 1985. The\nkwacha fell from 2.20 to the dollar to about 15 in 16 months.\nIn January 1987 the government was more than two months in\narrears in paying foreign currency to successful bidders, and\nthe auction was suspended and replaced with a fixed exchange\nrate of nine kwacha to the dollar.\n REUTER\n&#3;',0
'INDONESIAN SUGAR OUTPUT SEEN SHORT OF TARGET Indonesia\'s raw sugar output is likely\nto be 1.8 mln tonnes in calendar 1987, unchanged from 1986 and\nbelow the government\'s 1987 forecast of 2.5 mln, the U.S.\nEmbassy said in its agricultural outlook for 1987.\n    Indonesia bought 162,500 tonnes of raw sugar on world\nmarkets in late 1986, the report said.\n    The embassy estimated Indonesia\'s calendar 1986 raw sugar\nproduction at 1.8 mln tonnes, against a government estimate of\n1.99 mln.\n    It said that Indonesia\'s move into sugar self-sufficiency\nin 1984 may have been short-lived.\n    The report said, \"The government continues to promote\nsugarcane production through its smallholder intensification\nprogram and a relatively high guaranteed price to sugarcane\nproducers.\n    \"However, there are considerable indications that farmers\nare reluctant to plant cane because its economic return is not\nas good as that of other crops.\"\n REUTER\n&#3;',0
'NIPPON KOKAN STEEL AFFILIATES CONSIDERING MERGER Toshin Steel Co Ltd &lt;TOSS.T> and &lt;Azuma\nSteel Co Ltd>, affiliates of Nippon Kokan KK &lt;NKKT.T>, are\nconsidering a merger, company spokesmen said.\n    Toshin Steel, owned 41.9 pct by Nippon Kokan, and Azuma\nSteel, owned 41.3 pct by Nippon Kokan, are expected to decide\nby the end of March, they said. Both firms have been struggling\nwith losses caused by the recession in the steel industry and\nthe yen\'s appreciation.\n    Azuma Steel\'s current losses are estimated at 3.1 billion\nyen in the year ending March 31 against a 6.99 billion loss a\nyear earlier, a spokesman said. The firm employs 1,100 workers\n    Toshin Steel, with 1,700 workers, has given no forecast for\nthe year ending March 31.\n    But industry sources said they expected the company to show\ncurrent losses of about five billion yen or more in 1986/87\ncompared with a 2.98 billion loss in 1985/86.\n REUTER\n&#3;',0
'INDONESIA UNLIKELY TO IMPORT PHILIPPINES COPRA Indonesia is unlikely to import copra\nfrom the Philippines in 1987 after importing 30,000 tonnes in\n1986, the U.S. Embassy\'s annual agriculture report said.\n    The report said the 31 pct devaluation of the Indonesian\nrupiah, an increase in import duties on copra and increases in\nthe price of Philippines copra have reduced the margin between\nprices in the two countries.\n    Indonesia\'s copra production is forecast at 1.32 mln tonnes\nin calendar 1987, up from 1.30 mln tonnes in 1986.\n REUTER\n&#3;',0
'JAPAN FEBRUARY INTERIM TRADE SURPLUS JUMPS Japan\'s customs-cleared trade surplus in\nthe first 20 days of February jumped to 3.58 billion dlrs from\n1.94 billion a year earlier, the Finance Ministry said.\n    The February interim surplus was sharply up from a 965.04\nmln dlr surplus in the same January period.\n    FOB exports rose 14.6 pct from a year earlier in the first\n20 days of February to 10.91 billion, while CIF imports fell\n3.2 pct to 7.33 billion.\n    The average dollar/yen rates were 152.32 for exports and\n152.31 for imports against 196.61 for exports and 196.27 for\nimports a year earlier.\n REUTER\n&#3;',0
'NIPPON LIGHT METAL CONTINUES ALUMINIUM OUTPUT CUT Nippon Light Metal Co Ltd &lt;NLGT.T>, which\nhas annual capacity of 63,000 tonnes, will continue primary\naluminium production at a rate of 35,000 tonnes owing to low\ndomestic and world prices and low water supplies at its\nhydroelectric power plant, a company official said.\n    Nippon, which has no plans to restore output to the 48,000\ntonnes a year at which it was working until late 1986, will\nbecome Japan\'s only smelter.\n    &lt;Ryoka Light Metal Industries Ltd> will stop smelting in\nApril owing to high power costs and low prices, and &lt;Mitsui\nAluminium Co Ltd> has said it stopped smelting in February.\n REUTER\n&#3;',0
'SAUDI FEBRUARY CRUDE OUTPUT PUT AT 3.5 MLN BPD Saudi crude oil output last month fell\nto an average of 3.5 mln barrels per day (bpd) from 3.8 mln bpd\nin January, Gulf oil sources said.\n    They said exports from the Ras Tanurah and Ju\'aymah\nterminals in the Gulf fell to an average 1.9 mln bpd last month\nfrom 2.2 mln in January because of lower liftings by some\ncustomers.\n    But the drop was much smaller than expected after Gulf\nexports rallied in the fourth week of February to 2.5 mln bpd\nfrom 1.2 mln in the third week, the sources said.\n    The production figures include neutral zone output but not\nsales from floating storage, which are generally considered\npart of a country\'s output for Opec purposes.\n    Saudi Arabia has an Opec quota of 4.133 mln bpd under a\nproduction restraint scheme approved by the 13-nation group\nlast December to back new official oil prices averaging 18 dlrs\na barrel.\n    The sources said the two-fold jump in exports last week\nappeared to be the result of buyers rushing to lift February\nentitlements before the month-end.\n    Last week\'s high export levels appeared to show continued\nsupport for official Opec prices from Saudi Arabia\'s main crude\ncustomers, the four ex-partners of Aramco, the sources said.\n    The four -- Exxon Corp &lt;XON>, Mobil Corp &lt;MOB>, Texaco Inc\n&lt;TX> and Chevron Corp &lt;CHV> -- signed a long-term agreement\nlast month to buy Saudi crude for 17.52 dlrs a barrel.\n    However the sources said the real test of Saudi Arabia\'s\nability to sell crude at official prices in a weak market will\ncome this month, when demand for petroleum products\ntraditionally tapers off. Spot prices have fallen in recent\nweeks to more than one dlr below Opec levels.\n    Saudi Arabian oil minister Hisham Nazer yesterday\nreiterated the kingdom\'s commitment to the December OPEC accord\nand said it would never sell below official prices.\n    The sources said total Saudi refinery throughput fell\nslightly in February to an average 1.1 mln bpd from 1.2 mln in\nJanuary because of cuts at the Yanbu and Jubail export\nrefineries.\n    They put crude oil exports through Yanbu at 100,000 bpd\nlast month, compared to zero in January, while throughput at\nBahrain\'s refinery and neutral zone production remained steady\nat around 200,000 bpd each.\n REUTER\n&#3;',0
'INDONESIAN PALM OIL OUTPUT EXPECTED TO RISE Indonesia\'s palm oil output is expected\nto rise and exports to increase, the U.S. Embassy said in its\nannual report on Indonesia\'s agriculture sector.\n    The Indonesian government said crude palm oil (CPO) output\nis expected to rise to 1.56 mln tonnes in 1987 and 2.11 mln in\n1988, up from a projected 1.45 mln tonnes in 1986 and 1.26 mln\nin 1985.\n    The 1986 projection of 1.45 mln tonnes is up from a\nprovisional figure of 1.3 mln tonnes.\n    A U.S. Embassy assessment puts 1987 output at 1.45 mln\ntonnes, against 1.35 mln in 1986 and 1.208 mln in 1985.\n    \"More realistic estimates indicate that 1988 production will\nbe between 1.5 and 1.6 mln tonnes,\" the report said.\n    The report said the abolition of the five pct CPO export\ntax, the devaluation of the rupiah in September 1986 and higher\ninternational palm oil prices should lead to a modest increase\nin exports this year.\n    Exports are forecast to rise to 720,000 tonnes against\n695,000 tonnes in 1986, the report added.\n REUTER\n&#3;',0
'INDONESIAN TEA, COCOA EXPORTS SEEN UP, COFFEE DOWN Indonesia\'s exports of tea and cocoa\nwill continue to rise in calendar 1987 but coffee exports are\nforecast to dip slightly in 1987/88 (April-March) as the\ngovernment tries to improve quality, the U.S. Embassy said.\n    The embassy\'s annual report on Indonesian agriculture\nforecast coffee output in 1986/87 would be 5.77 mln bags of 60\nkilograms each. That is slightly less than the 5.8 mln bags\nproduced in 1985/86.\n    In 1987/88 coffee production is forecast to rise again to\n5.8 mln bags, but exports to dip to 4.8 mln from around 5.0 mln\nin 1986/87. Exports in 1985/86 were 4.67 mln bags.\n    The embassy report says coffee stocks will rise to 1.3 mln\ntonnes in 1987/88 from 1.15 mln in 1986/87. It bases this on a\nfall in exports as a result of the \"probable\" re-introduction of\nquotas by the International Coffee Organisation.\n    Cocoa production and exports are forecast to rise steadily\nas the government develops cocoa plantations. Production of\ncocoa in Indonesia increased to 32,378 tonnes in calendar 1985\nfrom 10,284 tonnes in 1980. It is projected by the government\nto rise to more than 50,000 tonnes by 1988.\n    Production in 1986 is estimated by the embassy at 35,000\ntonnes, as against 38,000 tonnes in 1987.\n    The report forecasts cocoa exports to rise to 35,000 tonnes\nthis year, from 33,000 tonnes in 1986 and 31,000 in 1985.\n    The Netherlands is at present the biggest importer of\nIndonesian cocoa beans.\n    The report forecasts that in calendar 1987, Indonesia\'s CTC\n(crushed, torn and curled) tea exports will increase\nsignificantly with the coming on stream of at least eight new\nCTC processing plants.\n    Indonesia plans to diversify its tea products by producing\nmore CTC tea, the main component of tea bags.\n    Production of black and green teas is forecast in the\nembassy report to rise to 125,000 tonnes in calendar 1987 from\n123,000 tonnes in 1986.\n    Exports of these teas are likely to rise to 95,000 tonnes\nin 1987 from 85,000 in 1986 and around 90,000 in 1985.\n    The embassy noted the ministry of trade tightened quality\ncontrols on tea in October 1986 in an effort to become more\ncompetititve in the world market.\n REUTER\n&#3;',0
'JAPAN\'S NTT FORECASTS PROFITS FALL IN 1987/88 &lt;Nippon Telegraph and Telephone Corp>\n(NTT) expects its profits to fall to 328 billion yen in the\nyear ending March 31, 1988 from a projected 348 billion this\nyear, the company said.\n    Total sales for the same period are expected to rise to\n5,506 billion yen from a projected 5,328 billion this year, NTT\nsaid in a business operations plan submitted to the Post and\nTelecommunications Ministry.\n    NTT said it plans to make capital investments of 1,770\nbillion yen in 1987/88, including 109 billion for research and\ndevelopment, as against a total of 1,600 billion this year.\n    An NTT spokesman said increased competition from new\nentrants to the telecommunications field and the effect of a\nsales tax scheduled to be introduced next January, were the\nmajor factors behind the projected decrease in profits.\n    The Japanese telecommunications industry was deregulated in\n1985.\n REUTER\n&#3;',0
'CHINA SIGNS WORLD BANK LOAN FOR TIANJIN PORT China has signed a 130 mln dlr loan\nagreement with the World Bank to partly finance 12 new berths\nwith an annual capacity of 6.28 mln tonnes at the 20 mln tonne\na year capacity Tianjin port, the New China News Agency said.\n    China will provide 370 mln yuan for the project and a\nChinese company won a bid against 12 other firms from seven\ncountries to do the foundation work, it said.\n    It said 11 of the new berths will be able to handle ships\nof more than 10,000 tonnes, three will handle containers and\nthe expansion will enable the port to handle coke, non-metal\nmineral ores and mining equipment for the first time.\n REUTER\n&#3;',0
'Japan February external reserves record 51.73 billion dlrs (January 51.46 billion)\n ',0
'JAPAN FEBRUARY RESERVES RECORD 51.73 BILLION DLRS Japan\'s external reserves rose to a record\n51.73 billion dlrs at the end of February from the previous\nrecord of 51.46 billion at end-January, the Finance Ministry\nsaid.\n    End-February reserves last year were 27.58 billion dlrs.\n    In January, the nation\'s foreign reserves showed the\nlargest-ever monthly increase at 9.22 billion dlrs due to\nmassive Bank of Japan dollar buying intervention during the\nmonth as the dollar fell briefly to an all-time low of 149.98\nyen on January 19, foreign exchange dealers said.\n REUTER\n&#3;',0
'ICO TALKS ON COFFEE QUOTAS TO RESUME AT NOON Talks on coffee export quotas at the\nInternational Coffee Organization (ICO) special council session\nwill resume at noon gmt today, following a last minute decision\ntaken early this morning to extend the meeting 24 hours, ICO\nofficials said.\n    An 18 member contact group will meet at midday to examine\nnew ideas, and the full council is to convene at 1900gmt, they\nsaid.\n    The extension resulted from a last ditch effort by Colombia\nto salvage the talks, which by late yesterday looked perilously\nclose to ending without agreement on quotas, delegates said.\n REUTER\n&#3;',0
'INDIAN SUGAR OUTPUT RISES IN FIRST FOUR MONTHS India\'s sugar output to January 31 in\nthe 1986/87 season (October/September) rose to 3.66 mln tonnes\nfrom 3.46 mln in the same 1985/86 period, the Indian Sugar\nMills Association said.\n    Total offtake in the first four months of the current year\nwas 2.71 mln tonnes (including 241,000 tonnes imported) for\ndomestic use and 4,000 tonnes for export, against 2.81 mln\ntonnes (including 993,000 imported) for domestic use and 3,000\ntonnes for export in the corresponding period of 1985/86.\n    Factory stocks at end-January were 3.05 mln tonnes (96,000\nimported) against 3.13 mln (96,000 imported) a year earlier.\n REUTER\n&#3;',0
'NEW DUTCH ADVANCES TOTAL 4.8 BILLION GUILDERS The Dutch Central Bank said it has\naccepted bids totalling 4.8 billion guilders at tender for new\nseven-day special advances at 5.3 pct covering the period March\n2 to 9 aimed at relieving money market tightness.\n    Subscriptions to 300 mln guilders were met in full, amounts\nabove 300 mln at 50 pct.\n    The new facility replaces old five-day advances worth 8.0\nbillion guilders at the same rate.\n    Dealers expect this week\'s money market shortage to be\naround 12 billion guilders.\n Reuter\n&#3;',0
'JAPAN BUYS SOME 95,000 TONNES SOYBEANS FROM CHINA Japanese importers bought some 95,000\ntonnes of Chinese soybeans late last month for May to September\nshipment, under the semi-annual trade accords, trade sources\nsaid.\n    The FOB premium rose to 13.50 dlrs per tonne, up 2.50 dlrs\nfrom the premium for the November to April shipment, but down\nfrom 13.80 for the last May to September shipment.\n    Flat prices for Chinese beans are based on futures prices\nin Chicago plus the FOB premium.\n    Japanese purchases of Chinese soybeans, including spot\nbuying, may have totalled 240,000 to 250,000 tonnes of the 1986\ncrop for November to April 1987 shipment, down from some\n300,000 tonnes the previous year, the sources said.\n    Domestic demand for edible-use soybeans is expected to\nremain stable at about 240,000 to 250,000 tonnes a year, the\nsources said.\n    In recent years Japanese importers have overbought Chinese\nedible-use soybeans and sold the surplus to domestic crushers,\nbut low 1986 U.S. Crop prices have discouraged the purchase of\nChinese origin beans for crushing, they said.\n REUTER\n&#3;',0
'SHV SAYS IT MAKING TENDER OFFER FOR UP TO 33 MLN SHARES IN IC GAS\n ',0
'CHEUNG KONG (HOLDINGS) LTD &lt;CKGH.HK> YEAR 1986 Shr 3.25 H.K. Dlrs vs 1.40\n    Final div 52 cents vs 38, making 75 cents vs 57\n    Net 1.28 billion dlrs vs 551.7 mln\n    Note - Earnings excluded extraordinary gains of 983.6 mln\ndlrs vs 81.3 mln. Bonus issue one-for-four vs nil. Share split\nfour-for-one. Dividend payable June 3, books close May 11-21.\n REUTER\n&#3;',0
'WALLENBERGS FIGHT BID FOR SWEDISH MATCH STAKE Sweden\'s Wallenberg group fought back\na bid by the London-based Swedish financier Erik Penser to\nsecure a large stake in Swedish Match &lt;SMBS ST>, one of the\ncompanies at the core of their business empire.\n    A statement issued by the Wallenberg holding companies AB\nInvestor and Forvaltnings AB Providentia said they had taken\nover an option held by Nobel Industrier Sweden AB to acquire 33\npct of the voting rights in Swedish Match.\n    Thre Wallenbergs paid Nobel Industrier &lt;NOBL ST>, in which\nPenser group has a 72 pct stake, about 20 pct over the market\nprice for the Swedish Match option, the statement said.\n    Swedish Match\'s B shares open to foreign buyers closed at\n424 crowns on Friday. The A shares -- with increased voting\nrights -- closed at 450 crowns for the restricted and 455 for\nthe free shares.\n    The statement said the deal increased Investor\'s stake to\n49.4 pct of the voting rights and 14.8 pct of the share capital\nwhile Providentia is left holding 34.1 pct of the voting rights\nand 14.5 pct of the share capital in Swedish Match.\n    The Wallenbergs\' stake in Swedish Match had previously\namounted to 52 pct of the voting rights in the company.\n    The Swedish Match deal will cost the Wallenbergs about 400\nmln crowns, share analysts said, making it one of the most\nexpensise moves the group has undertaken in the last four years\nto defend its far-flung interests from outside predators.\n    The Wallenbergs originally sold Nobel Industrier, an arms\nand chemicals group, to Penser in 1984 to pay for buying Volvo\n&lt;VOLV ST> out of two other key group companies, Atlas Copco\n&lt;ASTS ST> and Stora Koppabergs &lt;SKPS ST>.\n    Since then, the Wallenbergs were ousted as the largest\nshareholders in SKF (SKFR ST> by Skanska AB &lt;SKBS ST> and\nFrederik Lundberg wrested control of Incentive AB from them.\n    Lundberg, a Zurich-based Swedish property tycoon, also\nmanaged to acquire a 25 pct stake in another Wallenberg\ncompany, the diary equipment firm Alfa -Laval AB &lt;ALFS ST>.\n    During 1986, the Wallenbergs have been concentrating on\nbuilding up their stake in Investor and Providentia to prevent\nany raid on the heart of their business empire.\n    But analysts say the Wallenbergs\' position in the\nelectrical engineering firm ASEA AB &lt;ASEA ST> is also too small\nat 12.6 pct of the voting rights and there has been growing\nspeculation that the group will be forced to sell off fringe\ninterests to protect its core activities.\n REUTER\n&#3;',0
'INDONESIAN SOYBEAN IMPORTS FORECAST TO RISE Soybean imports are forecast to rise to\n425,000 tonnes in 1987/88 (October/September) from an estimated\n300,000 in 1986/87 and 375,000 in 1985/86, the U.S. Embassy\nsaid in its annual report on Indonesia\'s agriculture.\n    It said Indonesia did not achieve its goal of\nself-sufficiency in soybean output in calendar 1986 because it\ndid not meet a planned increase in area planted and because\nyields have remained below target.\n    Soybean meal imports are forecast to fall to around 190,000\ntonnes in 1987/88 from 270,000 tonnes in 1986/87 and 295,000\ntonnes in 1985/86.\n    Domestic soybean production is forecast to rise steadily to\n1.08 mln tonnes in 1987/88 from 980,000 in the current year and\n890,000 in 1985/86, the report said.\n    Imports are forecast to fall in the current year but to\nrise in 1987/88 because of a new soybean crushing plant due to\ncome on stream in early 1988.\n    China is the main supplier with a 79 pct share, while the\nU.S. Provides the rest, it said.\n    \"This pattern will likely continue during 1986/87 since\ndomestic soyfood processors prefer Chinese beans and are\nwilling to pay a premium for them,\" it said.\n    Area planted is expected to increase by 10 pct in both\n1986/87 and 1987/88.\n    \"Yield increases continue to be hampered by an insufficient\nsupply of quality seeds, along with pest and disease problems,\"\nthe report said.\n REUTER\n&#3;',0
'SHV SAYS IT MAKING TENDER OFFER FOR IC GAS &lt;SHV (United Kingdom) Holding Co Ltd>\nsaid it was making a tender offer for up to 33 mln ordinary\nshares in Imperial Continental Gas Association.&lt;ICGS.L>.\n    It said in a statement the offer was on the basis of 700p\nfor each IC Gas ordinary and 252p for every one stg nominal of\nIC Gas loan stock.\n    SHV already holds 6.8 mln IC Gas ordinary stock units\nrepresenting around 4.9 pct of the current issued share\ncapital.\n    Successful completion of the offer would increase SHV\'s\nstake in IC Gas to 39.8 mln shares, representing around 27.9\npct of issued share capital, it said.\n    The offer capitalises IC Gas at around one billion stg.\n    It said it was tendering for both ordinary stock and loan\nstock, which when fully converted, gave a total of 33 mln IC\nGas ordinary. It is making the tender offer through N.M.\nRothschilds.\n    IC Gas said in a statement it noted the SHV tender offer\nand the terms were being considered.\n    It said a further statement would be made as soon as\npossible.\n REUTER...\n&#3;',0
'U.K. MONEY MARKET DEFICIT FORECAST AT 800 MLN STG The Bank of England said it forecast a\nshortage of around 800 mln stg in the money market today.\n    Among the main factors affecting liquidity, bills maturing\nin official hands and the take-up of treasury bills will drain\nsome 1.61 billion stg.\n    Partly offsetting this outflow, exchequer transactions and\na fall in note circulation will add around 425 mln stg and 360\nmln stg respectively. In addition, bankers\' balances above\ntarget will add some 20 mln stg to the system today.\n REUTER\n&#3;',0
'BLACK MINERS SUPPORT S. AFRICAN MINES TAKEOVER Thousands of black\nmineworkers roared support for a union proposal to seize\ncontrol of South Africa\'s gold, uranium, platinum and coal\nmines if the owners refuse to improve conditions for migrant\nblack workers.\n    About 15,000 miners attended a rally here to endorse moves\nproposed by last week\'s annual meeting of the 200,000 strong\nNational Union of Mineworkers (NUM).\n    They also supported a proposal for a national strike at the\nend of this month if the owners refused to begin negotiations.\n    Migrant workers from surrounding countries make up more\nthan half of the labour force in the mines.\n    It was not stated how the union would \"seize control.\"\n    The miners\' leaders also demanded an end to the system of\nsingle sex hostels for migrant workers, to be replaced by\nhousing schemes so that workers could live with their families.\n    The crowd, one of the largest to attend a meeting since\nSouth Africa declared a state of emergency last June, also\nshouted approval of a proposal to work closely with\nanti-apartheid movements such as the United Democratic Front\n(UDF) which claims two mln members. They also shouted their\nsupport for a demand that jailed black nationalist leader\nNelson Mandela be released.\n REUTER\n&#3;',0
'THAILAND ANNOUNCES THIRD TAPIOCA QUOTA FOR EC Thailand\'s Commerce Ministry announced a\nnew tapioca export quota of 737,987 tonnes for the European\nCommunity against 762,860 tonnes for the previous allocation.\n    The ministry said the fresh allocation, for the February\n27-July 7 shipment period, is the third under a maximum 5.5 mln\ntonne overall quota that Thailand obtained from the EC for\ncalendar 1987.\n    It said the quota allocation was based on a national\ntapioca pellet stock of 4.34 mln tonnes surveyed last week, up\nfrom 3.05 mln in mid-January.\n REUTER\n&#3;',0
'ATPC MEMBERS FIND WAYS TO CURB TIN EXPORTS Mine and industry officials from\nmost member states of the Association of Tin Producing\nCountries (ATPC) say they have found ways to limit group\nexports to 96,000 tonnes in the year started March 1, according\nto views polled by Reuter correspondents.\n    The plan to curb exports, agreed in January, is aimed at\ncutting the world surplus to 50,000 tonnes from 70,000 now and\nboosting prices to about 19 ringgit a kilo from just over 16.\n    Members of the seven-member Kuala Lumpur-based ATPC account\nfor some 65 pct of the world\'s tin output.\n    Under the ATPC plan, Malaysia has been allocated an export\nquota of 28,526 tonnes, Indonesia 24,516, Thailand 19,000,\nBolivia 13,761, Zaire 1,736 and Nigeria 1,461.\n    Australia has said it is not setting any export quota.\nHowever, the tonnage allocated to it, 7,000 tonnes, is roughly\nequal to its expected output this year.\n    Comment from officials in Zaire was unavailable.\n    Mine officials in Malaysia, the world\'s leading producer,\nsaid only 188 mines will be allowed to operate to ensure that\noutput is limited to around 31,500 tonnes in the year started\nMarch 1.\n    Chief Inspector of Mines Redzuan Sumun told Reuters that\nexcess output of some 3,000 tonnes after exports of 28,500 in\nthe one-year quota period would be kept in the national stock.\n    Mine owners in Malaysia have welcomed the ATPC export curb\nand asked the government not to issue new mining licences. More\nthan 100 applications for licences are pending.\n    Redzuan said the Mines Department would approve new mining\nlicences only if a six-month review of production trends showed\nthat local mines were not overproducing.\n    ATPC chairman and Indonesia\'s Mining and Energy Minister\nSubroto has pledged his country\'s support for the export curb.\n    A spokesman for the state-owned tin mining company PT\nTambang Timah told Reuters it would be easy for Indonesia to\nstick to an export quota of 24,516 tonnes because this was\nclose to exports in calendar 1986 of 24,636.\n    In Bangkok, Thai Industry Minister Pramual Sabhavasu said\nThailand would keep to its 19,000 tonne quota and added this\nwould not cause the local industry hardship at current prices.\n    To insure adherence, the industry ministry and sole tin\nexporter Thailand Smelting and Refining Co would encourage\nbigger stockpiles, and income tax exemptions would be\npermitted, he said.\n    The Thai Mineral Resources Department is expected to\ndisallow new tin mines opening this year to prevent excessive\nproduction, industry sources said.\n    But Mining Industry Council President Dam Teutong told\nReuters that if the tin price rose above 18 ringgit a kilo,\nThai miners would press for the opening of more new mines.\n    Thailand exported 18,367 tonnes in 1986, up from 17,359 in\n1985, Pramual said.\n    Bolivia said it expects to export less tin this year than\nits allocated 13,761 tonne quota.\n    Mining Minister Jaimie Villalobos told Reuters in La Paz\nthat Bolivia expected to export about 9,000 tonnes of tin in\ncalendar 1987.\n    He said this was due to the sacking after the tin crisis of\nOctober 1985 of about 20,000 of the 28,000 workers at the state\nmining company Comibol, which produces more than 80 pct of\nBolivia\'s total exports.\n    He said there were risks in the ATPC plan to cut exports\nbut added he was confident the goals set by the plan would be\nachieved. He did not elaborate.\n    Mines, Power and Steel Minister Bunu Sheriff Musa said in\nLagos that Nigeria would have no difficulty keeping within its\nATPC quota of 1,461 tonnes because its metals output had\ndeclined due to poor demand and high production costs.\n    Industry sources told Reuters that Nigeria\'s output was\nless than 1,000 tonnes last year.\n    ATPC officials said they would monitor member countries\'\nexport figures every three months using customs documents and\nmake projections from such data to see if quotas were likely to\nbe breached within the year-long quota period.\n    The ATPC officials said members that appeared likely to\nbreach their quotas would be told to take remedial measures.\n    They added that if member countries were unable to fulfil\ntheir quotas their extra tonnage would be reallocated to other\nmembers at the ATPC\'s discretion.\n    The ATPC would have produced and exported an estimated\n106,000 tonnes of tin in 1987 without the plan.\n    Non-members Brazil and China have pledged to cooperate with\nthe ATPC and limit their exports to 21,000 and 7,000 tonnes\nrespectively during the quota period.\n REUTER\n&#3;',0
'SOUTH KOREA TO HOLD CURRENT ACCOUNT SURPLUS DOWN South Korea plans to take steps to keep\nits 1987 current account surplus below five billion dlrs,\nEconomic Planning Board Minister Kim Mahn-je said.\n    Kim told reporters the government would repay loans ahead\nof schedule and encourage firms to increase imports and\ninvestment abroad to prevent the current account surplus from\nrising too quickly.\n    Last year South Korea\'s current account surplus was 4.65\nbillion dlrs. It widened to 622 mln dlrs in January from 484\nmln in December and compared with a deficit of 334 mln in\nJanuary 1986, Bank of Korea figures show.\n REUTER\n&#3;',0
'DUTCH OILSEEDS/FATS IMPORTS ROSE IN 1986 and oil-bearing\nraw materials, fats and oils rose to 2.16 mln tonnes on a\nfat/oil basis in 1986 from 2.12 mln tonnes in 1985, the\nCommodity Board for Margarine, Fats and Oils said.\n    Exports of the same commodities fell to 1.35 mln tonnes\nfrom 1.38 mln on a fat-oil basis.\n    Fat- and oil-bearing raw materials imports rose to 760,000\nfrom 709,200 tonnes on a fat/oil basis and to 3.47 mln tonnes\nactual weight from 3.32 mln.\n    Soyabeans were the main component, with imports rising to\n2.82 mln tonnes actual weight from 2.75 mln. Sunflowerseed\nimports fell to 308,200 from 342,900 tonnes while rapeseed\nimports rose to 292,000 from 201,400 tonnes.\n    Exports of fat- and oil-bearing raw materials rose to\n28,700 tonnes from 19,800 on a fat/oil basis and to 137,200\nfrom 89,900 tonnes actual weight.\n    Soyabean exports rose to 119,400 tonnes actual weight from\n73,200 tonnes.\n    Imports of vegetable fats, including palm oil, rose to\n445,400 tonnes from 362,500 and exports to 151,500 from\n139,800.\n    Vegetable oil imports fell to 227,500 tonnes in 1986 from\n286,300 in 1985, and exports to 661,400 from 683,400 tonnes.\n    Soyabean oil imports were 32,000 (48,200), sunflower oil\n61,600 (92,800), rape oil 82,900 (94,900) and groundnut oil\n9,300 (12,200). Exports of soybean oil were 325,900 (338,800),\nsun oil 172,100 (189,800), rape oil 114,300 (103,400) and\ngroundnut oil 7,000 (10,400).\n    Animal fat imports rose to 371,700 from 345,800 tonnes and\nexports to 124,100 tonnes from 113,000. Fishoil imports fell to\n190,600 from 265,600 and exports to 56,500 from 85,500 tonnes.\n reuter...\n&#3;',0
'CHINA\'S HEILONGJIANG PROVINCE BOOSTS GOLD OUTPUT Gold output in the northeast China\nprovince of Heilongjiang rose 22.7 pct in 1986 from 1985\'s\nlevel, the New China News Agency said. It gave no figures.\n    It said the province, China\'s second largest gold producer\nafter Shandong, plans to double gold output by 1990 from the\n1986 level. China does not publish gold production figures.\n    However, industry sources estimate output at about 65\ntonnes a year, with exports put between 11 and 31 tonnes.\n    China is selling more gold abroad to offset large trade\ndeficits in recent years, western diplomats said.\n REUTER\n&#3;',0
'SALE TILNEY BUYS STAKE IN U.S. INSURANCE BROKER &lt;Sale Tilney Plc> said it has purchased\n80 pct of the ordinary share capital of &lt;B and R International\nInc.>, a U.S. Insurance broker, for 5.6 mln dlrs.\n    Sale is paying 3.6 mln dlrs in cash on completion, with the\nbalance plus interest to be paid in equal instalments over the\nnext six years.\n    B and R posted pretax profit of 855,000 dlrs in the year to\nDec 31, 1986 when it had net tangible assets of 563,000 dlrs.\n REUTER\n&#3;',0
'ESTIMATED DROP IN JAPAN CORPORATE PROFITS TRIMMED The combined profits of Japan\'s major\ncorporations, excluding financial institutions, are forecast to\nfall 19.2 pct in the 1986/87 year ending March 31, compared to\nthe 19.9 pct decline projected in late November, Wako Research\nInstitute of Economics said.\n    The private research body also said in a statement that 437\nof the 1,084 firms listed on the first section of the Tokyo\nStock Exchange foresee an 11.6 pct fall in sales in the year\nagainst an 11.4 pct fall estimated last November.\n    Current profits are projected to fall 4.4 pct in 1987/88 on\nsales seen increasing by 4.2 pct, it said.\n    Rationalisation measures taken by manufacturing industries\nto cope with the yen\'s sharp rise are beginning to brighten\ntheir business outlook, the institute said.\n    It said lower interest rates, which are expected to reduce\ncorporate borrowing costs, are also behind the improved\nperformance outlook.\n    Earnings performance in the non-manufacturing sector will\nbe supported by firm demand in the real estate and construction\nbusinesses, it said.\n    The forecast was based on average exchange rate estimates\nof 160 yen to the dollar in 1986/87 and 155 yen in 1987/88.\n REUTER\n&#3;',0
'INDIA BUYS 46,000 TONNES OF VEGETABLE OILS The Indian State Trading Corporation\npurchased 46,000 tonnes of vegetable oils at its import tender\non Friday, market sources said.\n    The business was for April shipments and comprised 20,000\ntonnes of European rapeseed oil at 318 dlrs, 20,000 tonnes of\nsoyoil, believed South American origin, at 314, and 6,000\ntonnes of Malaysian rbd palm olein at 347 dlrs, all per tonne\ncif.\n    Palm oil sellers were disappointed at the light purchase of\nrbd olein and early trading saw the market ease nearly 10 dlrs\nunder Malaysian refiner and dealer selling. April shipments\ntraded down to 326 dlrs per tonne, fob.\n REUTER\n&#3;',0
'JAPAN TO PROMOTE INTEREST RATE LIBERALISATION The Bank of Japan decided at a policy\nboard meeting to promote further interest rate liberalisation\nby lowering the minimum denomination of regulation-free large\ndeposits and by raising the interest rate ceiling on money\nmarket certificates (MMCs), a central bank official said.\n    The new guideline will go into effect on April 6, the bank\nsaid.\n    Under the guideline, the minimum denomination of\nregulation-free large deposits will be lowered to 100 mln yen\nfrom 300 mln.\n    The interest rate ceiling of MMCs with maturities of\nbetween one year and two years will be set at 0.5 percentage\npoint below the prevailing certificate of deposit rate, the\nbank said.\n    But the ceiling on MMCs with maturities of one year or less\nwill remain the same, or 0.75 percentage point below the CD\nrates.\n    The minimum denomination of MMCs will be lowered to 10 mln\nyen from 30 mln.\n    The bank also said time deposit rates will be lowered by\n0.37 point, effective March 16, in line with the half-point cut\nin the official discount rate on February 23.\n    New interest rates on two-year and one-year deposits at\nbanks, for example, will be 3.64 pct and 3.39 pct per annum,\nrespectively.\n    Demand deposit rates, however, will remain the same.\n REUTER\n&#3;',0
'TAIWAN POWER FIRM PLANS MORE FOREIGN DEBT CUTS State-owned (Taiwan Power co) will boost\nits domestic borrowings to further cut its foreign debt in line\nwith a government policy to trim the island\'s huge foreign\nexchange reserves, a company official said.\n    The company\'s foreign debt, mainly from the Japanese and\nU.S. Banks, was cut nearly by half to 66.2 billion taiwan dlrs\nequivalent in calendar 1986 from 124.6 billion in 1985, he\nsaid.\n    Its domestic borrowings however rose to 105.2 billion\ntaiwan dlrs from 80.6 billion in the same period, he added.\n    Taiwan\'s foreign exchange reserves now stood at 50 billion\nU.S. Dlrs, due to its 1986 record trade surplus of 15.6\nbillion.\n REUTER\n&#3;',0
'DUTCH ANIMAL FEED USAGE DOWN IN FIRST HALF SEASON Dutch animal feed usage in the first\nhalf of the current season from July through December 1986 fell\n7.6 pct to 6.5 mln tonnes from 7.1 mln in the same period of\n1985, figures in the latest newsletter from the co-operative\nCebeco-Handelsraad show.\n    Tapioca usage fell 9.1 pct to 1.4 mln tonnes from 1.6 mln\nin the first half of the 1985/86 season.\n    Grain usage fell 6.1 pct to 1.1 mln tonnes from 1.2 mln,\nwhile soymeal usage fell 10 pct to 967,000 tonnes from 1.1 mln.\n    Cornglutenfeed usage fell 17.8 pct to 729,000 tonnes from\n887,000, but cornfeedmeal usage nearly doubled to 399,000\ntonnes from 201,000.\n    Citruspulp usage dropped 62.8 pct to 149,000 tonnes from\n400,000 tonnes, while rapeseed and meal usage rose 9.6 pct to\n217,000 tonnes from 198,000 and sunmeal rose 25.6 pct to\n216,000 tonnes from 172,000 tonnes.\n    During the whole of the season from July 1985 to June 1986,\nDutch soymeal usage fell 12 pct to 1.9 mln tonnes from 2.1 mln\nthe previous season, while sunmeal usage rose 25 pct to 408,000\ntonnes from 325,000.\n    Rapeseed and meal usage during the season also rose 14 pct\nto 409,000 tonnes from 360,000, but citruspulp fell 37 pct to\n516,000 tonnes from 826,000.\n    Meanwhile, the value of exports of agricultural products\nfrom the Netherlands in calendar 1986 fell 5.4 pct to 48.7\nbillion guilders from 51.5 billion in calendar 1985, figures\nfrom the Ministry of Agriculture show.\n    During the same period imports of agricultural products\ndropped 13.1 pct to 31.2 billion guilders from 35.8 billion.\n REUTER\n&#3;',1
'U.K. CONFIRMS JANUARY STERLING M3 RISE The Bank of England said the broad\nmeasure of U.K. Money supply, Sterling M3, rose a seasonally\nadjusted 1.1 pct in January after a 0.2 pct rise in December.\n    The unadjusted year-on-year rise was 17.6 pct after 18.1\npct in the year to December.\n    The narrow measure of money supply, M0, fell by a\nseasonally adjusted 0.6 pct in January, and rose by a\nnon-adjusted 4.1 pct year-on-year, the Bank said.\n    The figures confirm provisional data issued by the Bank two\nweks ago.\n    In December, M0 grew by a seasonally adjusted 1.4 pct and\nby a non-seasonally adjusted 5.2 pct year-on-year.\n    The Bank said sterling bank lending grew by a\nnon-seasonally adjusted 1.75 billion stg in January. This also\nconfirmed provisional figures issued in February.\n    The measure of private sector liquidity, PSL2, fell 0.2 pct\nin January, but after seasonal adjustment rose 0.6 pct, the\nBank said.\n    The Bank said the public sector contribution to the growth\nin Sterling M3 was contractionary by about 2.3 billion stg.\n    Within this, the Public Sector Borrowing Requirement (PSBR)\nshowed a repayment of 3.7 billion stg, while the non-bank\nprivate sector\'s holdings of government debt fell by about 1.1\nbillion stg.\n    There was a fall of 290 mln stg in notes and coin in\nJanuary, a fall of 1.5 billion stg in non-interest bearing\nsight deposits, and a rise of 1.6 billion stg in interest\nbearing sight deposits, the Bank said.\n REUTER\n&#3;',0
'EXCO BUYS U.S. GOVERNMENT SECURITIES BROKER &lt;Exco International Plc>, a subsidiary of\nBritish and Commonwealth Shipping Co Plc &lt;BCOM.L>, said it had\nagreed in principle to buy an 80 pct stake in &lt;RMJ Holdings\nCorp> for about 79 mln dlrs.\n    Exco Chairman Richard Lacy told Reuters the acquisition was\nbeing made from Bank of New York Co Inc &lt;BK.N>, which currently\nholds a 50.1 pct, and from RMJ partners who hold the remainder.\n    Bank of New York and the partners will retain about 10 pct\neach and these stakes will be bought over the next six years.\n    RMJ is the holding company of RMJ Securities, one of the\nlargest U.S. Government securities brokers.\n    It is also involved in broking notes, obligations and other\ninstruments sponsored by U.S. Federal agencies.\n    Lacy said Exco had been considering buying a U.S.\nGovernment securities broker for the past four years and had\nmade an offer for RMJ when it was sold by Security Pacific Corp\n&lt;SPC.N> in 1985. RMJ was then valued at about 50 mln dlrs.\n    B and C managing director Peter Goldie said RMJ would be\nbought at about the same multiple as Exco, suggesting net\nincome of around 16 mln dlrs.\n    The company\'s earnings had not been hit by the halving of\nbrokerage fees some 14 months ago as volumes had since doubled.\n    Lacy said that RMJ employed some 300 people, with 200 in\nthe brokerage business and about 70 in its &lt;SMS> unit, which\nprovided computer software for the financial services\ncommunity.\n    RMJ Securities had offices in New York, where total market\nturnover of U.S. Government securities was 110 billion dlrs a\nday, and in London where it has 15 billion.\n    It was also given permission last week to open an office in\nTokyo where total market turnover had lifted rapidly to about\nfive billion dlrs a day.\n    The acquisition would contribute between five and 10 pct of\nB and C\'s share earnings in 1987 on a proforma basis.\n REUTER\n&#3;',0
'PAKISTAN TO TENDER FOR RBD PALM OIL Pakistan will hold an import tender\ntomorrow for 6,000 tonnes of refined bleached deodorised palm\noil for second half March shipments, traders said.\n REUTER\n&#3;',0
'COLOROLL AGREES TO BUY U.S. WALLCOVERINGS COMPANY &lt;Coloroll Group Plc> said it has entered\ninto a conditional agreement to acquire the business and assets\nof &lt;Wallco Inc> and related companies for 14.5 mln dlrs.\n    Miami-based Wallco manufactures and distributes\nwallcoverings and showed a pretax profit of 1.5 mln dlrs on\nturnover of 37 mln in the year ending June 1986. The total U.S.\nMarket was estimated to be worth 840 mln dlrs in 1986, having\ngrown by 47 pct in the previous five years, Coloroll said.\n    The combined sales and profit of the enlarged Coloroll U.S.\nBusiness would be 67 mln and four mln dlrs respectively.\n REUTER\n&#3;',0
'U.K. MONEY MARKET SHORTAGE FORECAST REVISED DOWN The Bank of England said it revised its\nforecast of the shortage in the money market down to around 700\nmln stg from its original estimate of 800 mln.\n REUTER\n&#3;',0
'SWEDEN TO GO AHEAD WITH S. AFRICAN TRADE SANCTIONS Sweden\'s ruling Social Democratic\nParty gave full power to the government to decree unilateral\ntrade sanctions against South Africa, Prime Minister Ingvar\nCalrsson said.\n    Carlsson told a news conference the party decided the fight\nagainst apartheid took priority over Sweden\'s traditional\npolicy of only adopting sanctions with the backing of the U.N.\nSecurity Council.\n    The government will decide later what form the trade\nboycott will take and when it will come into force.\n REUTER\n&#3;',0
'U.K. MONEY MARKET RECEIVES 37 MLN STG ASSISTANCE The Bank of England said it had provided\nthe money market with 37 mln stg assistance in the morning\nsession. This compares with the Bank\'s downward revised\nestimate of the shortfall in the system today of around 700 mln\nstg.\n    The central bank purchased bank bills outright comprising\nfour mln stg in band one at 10-7/8 pct and 33 mln stg in band\ntwo at 10-13/16 pct.\n REUTER\n&#3;',0
'JAPAN, U.S. SET TO BEGIN HIGH-LEVEL TRADE TALKS Japan and the U.S. Kick off top-level\ntrade talks tomorrow amid signs officials from both sides are\ngrowing increasingly irritated with each other.\n    The talks, held annually at sub-cabinet level to review the\nwhole gamut of U.S./Japan economic relations, will pave the way\nfor American Secretary of State George Schultz\'s one day\nstop-over here at end-week on his way home from China.\n    Faced with growing Congressional protectionist pressure,\nthe U.S. Administration is pressing Japan for speedy action to\nreduce its still huge trade surplus, U.S. Officials said.\n    \"We appreciate their frustration,\" a senior Japanese\ngovernment official said. \"But we are also frustrated.\"\n    The official said the 40 pct rise of the yen over the last\n18 months has hit Japan hard, forcing exporters to slash\nspending and lay off workers to make up for lost sales abroad.\nThat has not yet shown up in dollar-based statistics on trade,\nbut it will, he said.\n    He said the U.S. Administration was ignoring the progress\nthat has been made and instead emphasizing the problems that\nremain when it talks with Congress.\n    \"It would only take five minutes to list their\naccomplishments,\" a senior U.S. Official replied.\n    The talks begin tomorrow with high-level discussions on the\neconomic structures of both countries and how they affect the\nbilateral trade imbalance, which last year amounted to 51.48\nbillion dlrs in Japan\'s favour.\n    On the following two days, the topics will range from\nmultilateral trade talks under the auspices of the General\nAgreement on Tariffs and Trade (GATT) to such bilateral trade\nproblems as super computers.\n    The structural talks are intended to be free-wheeling\ndiscussions among senior officials. Tomorrow\'s topics include\nsavings and investment issues such as consumer credit and\nhousing, and the implications of government budget deficits.\n    These talks come at a particularly delicate time for the\nJapanese government, which is facing increasing domestic\npressure to abandon its tight-fisted fiscal policy and\nstimulate the sagging economy by spending more.\n    Some U.S. Officials complained Japan has no intention of\nboosting domestic demand and imports, as Washington wants.\n    Japanese officials in turn pointed the finger at the huge\nU.S. Budget deficit as one of the main culprits for the trade\nimbalance. That budget deficit has meant that the U.S. Is\nbuying more imports.\n    Japan seems particularly peeved at being singled in a draft\ntrade bill before the Senate as a nation following adverserial\ntrade practices. \"It condemns Japan without due process,\" one\nJapanese official said.\n    That reference spoils what is otherwise a well-thought-out\nbill introduced by Democratic Senator Lloyd Bentsen, he said.\n    Japan is also not totally happy with the administration\'s\ntrade bill, particularly its proposal to establish reciprocal\naccess to foreign markets as one criteria for retaliatory trade\naction by the U.S., Officials said.\n    Nevertheless, Japanese officials said they remain in a weak\nbargaining position, especially with the threat of a trade bill\noverhanging them.\n    \"We have no leverage,\" one official admitted.\n    As a result, Tokyo is striving to meet U.S. Complaints\nabout its trade practices in a variety of fields, including\nsuper computers.\n    The U.S. Is pressing for greater access to the Japanese\nsuper computer market.\n    The Japanese government has sent a long questionnaire to\npublic institutions like universities which buy the\nsophisticated machines in hopes of eventually setting up\ninformal bidding procedures easily understood by all potential\nsellers, officials said.\n REUTER\n&#3;',0
'INDIA TO HOLD WHITE SUGAR BUYING TENDER India will hold a buying tender on\nWednesday, March 4, for two to three cargoes of white sugar for\nMarch/April shipment, traders said.\n REUTER\n&#3;',0
'CARLTON COMMUNICATIONS OPTIMISTIC FOR 1987 &lt;Carlton Communications Plc> has started\nthe current financial year well, with accounts for the first\nfour months showing a healthy increase on the same period last\nyear, and Chairman M.P. Green told the annual meeting he looked\nforward to 1987 with optimism.\n    The issue of 4.6 mln shares in ADR form had now been\nsuccessfully completed, he added.\n    Carlton intended to increase its presence in the U.S. Which\nrepresented 50 pct of the world television market. Conditions\nworldwide in the television industry continued to look buoyant,\nthe Chairman noted.\n REUTER\n&#3;',0
'EC OPENS ANTI-DUMPING ENQUIRY INTO SOVIET MERCURY The European Community Commission said\nit has opened an enquiry into allegations that the Soviet Union\nis dumping mercury on the European market at below-cost prices.\n    The Commission said its decision follows a complaint from\nEC non-ferrous metals producers that the sales of Soviet\nmercury were harming their business and threatening jobs in the\nEuropean industry.\n    According to the complaint, Soviet mercury sales in the EC\nhad risen from zero in recent years to 100 tonnes between\nAugust and October last year and threaten to capture 25 pct of\nthe EC market if they continue at the same pace.\n    The industry said the mercury was being sold at more than\n40 pct below prices charged by EC producers, forcing them to\ncut their prices to levels that no longer covered costs. The\nimports had caused producers heavy financial losses, it said.\n    The Commission said the industry would probably be unable\nto hold prices at current levels and that any increase would\nresult in loss of sales and jobs.\n    The so-called anti-dumping procedure opened by the\nCommission will allow all interested parties to state their\ncases to the authority.\n REUTER\n&#3;',0
'GULF ARAB DEPUTY OIL MINISTERS TO MEET IN BAHRAIN Deputy oil ministers from six Gulf\nArab states will meet in Bahrain today to discuss coordination\nof crude oil marketing, the official Emirates news agency WAM\nreported.\n    WAM said the officials would be discussing implementation\nof last Sunday\'s agreement in Doha by Gulf Cooperation Council\n(GCC) oil ministers to help each other market their crude oil.\n    Four of the GCC states - Saudi Arabia, the United Arab\nEmirates (UAE), Kuwait and Qatar - are members of the\nOrganiaation of Petroleum Exporting Countries (OPEC) and some\nface stiff buyer resistance to official OPEC prices.\n Reuter\n&#3;',0
'SAUDI ARABIA REITERATES COMMITMENT TO OPEC ACCORD Saudi Arabian Oil Minister Hisham Nazer\nreiterated the kingdom\'s commitment to last December\'s OPEC\naccord to boost world oil prices and stabilize the market, the\nofficial Saudi Press Agency SPA said.\n    Asked by the agency about the recent fall in free market\noil prices, Nazer said Saudi Arabia \"is fully adhering by the\n... accord and it will never sell its oil at prices below the\npronounced prices under any circumstance.\"\n    Saudi Arabia was a main architect of December pact under\nwhich OPEC agreed to cut its total oil output ceiling by 7.25\npct and return to fixed prices of around 18 dollars a barrel.\n Reuter\n&#3;',0
'KUWAIT MINISTER SAYS NO EMERGENCY OPEC TALKS SET Kuwait\'s oil minister said in a newspaper\ninterview that there were no plans for an emergency OPEC\nmeeting after the recent weakness in world oil prices.\n    Sheikh Ali al-Khalifa al-Sabah was quoted by the local\ndaily al-Qabas as saying that \"none of the OPEC members has\nasked for such a meeting.\"\n    He also denied that Kuwait was pumping above its OPEC quota\nof 948,000 barrels of crude daily (bpd).\n    Crude oil prices fell sharply last week as international\noil traders and analysts estimated the 13-nation OPEC was\npumping up to one million bpd over its self-imposed limits.\n Reuter\n&#3;',0
'TAIWAN PLANS NEW TARIFF CUTS Taiwan plans another round of deep tariff\ncuts this year to help narrow its trade surplus with the U.S.,\nA senior economic planner said.\n    Wang Chao-Ming, vice-chairman of the council for economic\nplanning and development, told Reuters Taiwan would further\nreduce import tariffs on 1,700 products sometime in the second\nhalf of this year.\n    Cuts of up to 50 pct on those items were made last year and\nWang said further cuts would go much deeper.\n    \"We have to speed up liberalisation and cut import tariffs\nfaster and more substantially,\" he said.\n    The United States, Taiwan\'s main trading partner, has said\nthe island\'s import tariffs, still ranging from a high of\nalmost 60 pct, were unacceptable. It has criticised the cuts as\ntoo selective.\n     Taiwan\'s trade surplus with the United States hit 13.6\nbillion dlrs last year. The surplus has boosted foreign\nexchange reserves to 50 billion dlrs, which Wang said made\nTaiwan a target for U.S. Protectionism.\n    Wang said the trade surplus and the reserves weakened\nTaiwan\'s position in talks with Washington over export quotas,\nparticularly for shoes, textiles and machine tools which are\namong the island\'s main export-earners.\n    A special Taiwanese trade delegation leaves for Washington\ntomorrow to try to renegotiate an agreement signed last year\nlimiting exports of Taiwan textiles.\n    Under the accord, Taiwan\'s textile export growth was\nlimited to 0.5 pct each year until 1988. Taipei has said it is\nlosing markets to South Korea and Hong Kong which were given\nmore generous terms.\n REUTER...\n&#3;',0
'HUTCHISON SEES HIGHER PAYOUT, SATISFACTORY PROFITS Hutchison Whampoa Ltd &lt;HWHH.HK>\nexpects satisfactory profits in 1987 and will pay a higher\ndividend for the year, chairman Li Ka-shing said.\n    He did not make any specific projections for the company\'s\nearnings this year but he said the firm will pay a dividend of\nnot less than 32.5 cents per share after a proposed\nfour-for-one stock split and a one-for-four bonus issue.\n    It paid total dividends of 1.30 dlrs per share last year,\nequal to 26 cents per share, adjusting for the bonus and share\nsplit.\n    Hutchison, which has operations ranging from trading to\nproperty and container terminals, earlier reported after-tax\nprofits of 1.62 billion dlrs against 1.19 billion dlrs in 1985.\n    The 1986 total excluded extraordinary gains of 563 mln\ndlrs, partly from the sale of some of its stake in the South\nChina Morning Post, the leading English language newspaper,\ncompared with 369 mln dlrs the previous year. It said it\nexpects another 277 mln dlr gain in 1987 from the sale of the\nremaining shares.\n    Li said Hong Kong\'s property market remains strong while\nits economy is performing better than forecast with its largely\nexport-led growth.\n    Gross domestic product grew by nearly nine pct last year\nagainst an initial government projection of 4.5 pct.\n    But he said Hong Kong\'s large trade deficit with the U.S.\nMay result in protectionist measures that will adversely affect\nthe British colony.\n    He said all of the company\'s major operations showed\nimproved results in 1986.\n    Hutchison said earlier it will sell its entire 23.5 pct\ninterest in Hongkong Electric Holdings Ltd &lt;HKEH.HK> to\n&lt;Cavendish International Holdings Ltd>, itself a spin-off from\nHongkong Electric.\n    Under a reorganisation announced separately, Hongkong\nElectric will spin off all its non-electricity related\nactivities into Cavendish, which will be listed on the local\nstock exchange. Hongkong Electric shareholders will receive one\nshare in Cavendish for every Hongkong Electric share.\n    Cavendish will buy the 348.2 mln Hongkong Electric shares\nfrom Hutchison by issuing 975 mln new shares.\n    The spin-off and the sale of Hongkong Electric shares will\ngive Hutchison a 53 pct stake in Cavendish.\n    Li said the decision to spin-off Cavendish is to relieve\nHongkong Electric of public criticism of the power company for\nmaking risky investments. But he denied there was pressure from\nthe government for the spin-off.\n    He said Cavendish will have seven billion dlrs of assets\nand will be almost debt free, with 340 mln dlrs of liabilites.\nIts major assets are the Hong Kong Hilton Hotel, property\ndevelopment, and interests in Husky Oil Ltd &lt;HYO.TO> of Canada\nand Pearson Plc &lt;PSON.L> of Britain.\n REUTER\n&#3;',0
'SCIENTIFIC MICRO SYSTEMS &lt;SMSI> ACUIRES SUPERMAC Scientific Micro Systems Inc said it\nhas acquired Supermac Technology, a rapidly growing supplier of\nenhancement products and disc drive subsystems for the Apple\npersonal computer market.\n    Scientific Micro said it acquired all the common stock of\nSupermac in exchange for 1.05 mln shares of its own common\nstock. The stock closed at 5.50 dlrs bid on Friday.\n    Supermac, a privately held firm based in Mountain View,\nCalifornia, as is Scientific Micro, reported a net profit of\n300,000 dlrs on revenue of 9.5 mln dlrs in fiscal 1986. It\nexpects its revenue to approximately double in 1987.\n\n Reuter\n&#3;',0
'AMERICAN EXPRESS &lt;AXP> VIEWING SHEARSON OPTIONS American Express Co, rumored to be\nconsidering a spinoff of part of Shearson Lehman Brothers Inc,\nsaid it is studying a range of options for its brokerage unit\nthat could improve Shearon\'s access to capital and help it meet\nbroadening international competition.\n    In a joint statement, American Express and Shearson said\nthe actions under consideration are an integral part of\nAmerican Express\' worldwide financial services strategy and\nthat the two companies have been having both internal and\nexternal discussions on the matters.\n    American Express said no decision has been reached on the\nstrategic options and that it and Shearson could ultimately\ndecide to follow growth plans already in place.\n    Last week, rumors circulated on Wall Street that the\nfinancial services giant was considering a spinoff of part of\nShearson and there was speculation it may be considering\nselling a stake to a Japanese firm. Analysts said the\nspeculation also focused on American Express selling 20 pct of\nthe profitable brokerage firm to the public.\n    There was some speculation that American Express had also\nconsidered a total spinoff of Shearson, but the plan was\nconsidered highly unlikely, analysts said.\n     American Express said in the statement on Sunday that it\nwill not comment on rumors and speculation and a spokesman\nwould not go beyond the statement. The company also remained\nsilent last Thursday and Friday, as rumors drove American\nExpress stock up a total of 5-1/2 dlrs in two days to bring it\nto a Friday close at 74.\n     It said it issued the statement on Sunday because a\nsimilar statement was being circulated to employees.\n    Analysts have been divided on whether it makes sense for\nAmerican Express to give up a stake in the wholly-owned\nbrokerage, which improved its after-tax earnings by about 50\npct in the last year.\n    Some analysts said American Express may consider spinning\noff part of Shearson because it is concerned that its stock\nprice does not fully reflect the value of the brokerage firm.\n     Shearson contributed 316 mln dlrs of American Express\'\n1.25 billion dlr net in 1986.\n    American Express\' ambitious plans for international growth\nmay be also enhanced by the added cash that spinning out part\nof Shearson would bring. Analysts speculated that all of\nShearson would have a market value of about 3.5 billion dlrs.\n    To some however, the need for added capital is puzzling.\n\"(American) Express is in a position where they can raise\ncapital if they need to,\" said Larry Eckenfelder of\nPrudential-Bache Securities.\n    Analysts said rumors were fed by the reorganization of\nShearson management Wednesday. Chief operating officer Jeffrey\nLane got the added, previously vacant, post of president.\n     The reorganization also created four new positions for\nchairmen of Shearson\'s operating divisions, a move analysts\nspeculated would allow Shearson to be a stand alone company.\n     Analysts, contacted on Sunday said the statement does\nlittle to clarify last week\'s market speculation. It does\nconfirm, however, that the financial services firm, which\nunsuccessfully attempted to expand Shearson with a major\nacquisition last year, is looking beyond its own walls for\ngrowth and positioning in the global market competition.\n    Late last year, Shearson\'s takeover offer to the E.F.\nHutton Group Inc was rejected by Hutton, and analysts said\nthere had been speculation that Shearson also was rebuffed when\nit approached another major Wall Street brokerage.        \n Reuter\n&#3;',0
'ROPAK &lt;ROPK> HAS 34 PCT OF BUCKHORN &lt;BKN> Ropak Corp said it received\nand accepted about 456,968 common shares and 527,035 Series A\nconvertible preferred shares of Buckhorn Inc at four dlrs and\n5.75 dlrs each respectively in response to its tender offer\nthat expired Friday, and it now owns 34.4 pct of Buckhorn\nvoting power.\n    The company had owned 63,000 common and 25,100 preferred\nshares before starting the hostile tender.  Ropak said it is\nborrowing the funds needed to buy the Buckhorn shares from its\nbank lender and will not need to use any funds that another\nbank had committed to provide under a margin loan.\n    Ropak said it waived minimum acceptance requirements to buy\nthe shares and intends to evaluate a number of possible ways of\ncompleting an acquisition of Buckhorn.  It said it hopes that\nBuckhorn\'s board will reevaluate its position and enter into\nmeaningful negotiations.\n Reuter\n&#3;',0
'PHILADELPHIA PORT CLOSED BY TANKER CRASH The port of Philadelphia was closed\nwhen a Cypriot oil tanker, Seapride II, ran aground after\nhitting a 200-foot tower supporting power lines across the\nriver, a Coast Guard spokesman said.\n    He said there was no oil spill but the ship is lodged on\nrocks opposite the Hope Creek nuclear power plant in New\nJersey.\n    He said the port would be closed until today when they\nhoped to refloat the ship on the high tide.\n    After delivering oil to a refinery in Paulsboro, New\nJersey, the ship apparently lost its steering and hit the power\ntransmission line carrying power from the nuclear plant to the\nstate of Delaware.\n Reuter\n&#3;',0
'PENRIL &lt;PNL> SEEKS TO SELL TWO UNITS Penril Corp said it is seeking to\nsell its Triplett Electrical Instrument Corp subsidiary in\nBluffton, Ohio, and Triplett\'s Alltest division in Hoffman\nEstates, Ill., as part of a plan to concentrate on its three\nprofitable division and reduce its debt load.\n    The company also said it is evaluating a plan to satisfy\nits obligations under its 10-7/8 pct subordinated notes but\ngave no details.  Interest on the notes is due today.\n    Penril further said director Clifford L. Alexander Jr. has\nresigned from the board.  It gave no reason.\n    Penril said shareholders at the annual meeting approved the\nlimitation of directors\' liability.   \n Reuter\n&#3;',0
'&lt;DALE BURDETT INC> FACES DAMAGE CLAIM Dale Burdett Inc said it\nfaces damages claims totalling about 420,000 dlrs from the\nformer owners of Burdett Publications Inc.\n    The company said on February 20, 1986, its predecessor\nNolex Development Inc acquired Burdett Publications Inc in an\nexchange of 17 mln common shares for all Burdett Publications\nshares, but the transaction was not qualified with the\nCalifornia Department of Corporations.\n    As a result, it said, the former Burdett Publications\nowners have a claim for damages against Dale Burdett as\nsuccessor to Nolex for one yuear starting January 21, 1987,\nwith the damages measured by the difference in values of shares\nexchanged plus interest from February 20, 1986.\n Reuter\n&#3;',0
'PUROLATOR &lt;PCC> IN BUYOUT WITH HUTTON &lt;EFH> New Jersey-based overnight messenger\nPurolator Courier Corp said it has agreed to be acquired for\nabout 265 mln dlrs by a company formed by E.F. Hutton LBO Inc\nand certain managers of Purolator\'s U.S. courier business.\n    Analysts have said that Purolator has been for sale for\nsome time. Purolator announced earlier it was mulling a\ntakeover bid, but analysts wrongly predicted the offer was from\nanother courier company.\n    Hutton LBO, a wholly owned subsidiary of E.F. Hutton Group\nInc, will be majority owner of the company.\n    Hutton said the acquiring company, PC Acquisition Inc, is\npaying 35 dlrs cash per share for 83 pct of Purolator\'s stock\nin a tender offer to begin Thursday. The rest of the shares\nwill be purchased for securities and warrants to buy stock in a\nsubsidiary of PC Acquisition, containing Purolator\'s U.S.\ncourier operations.\n    If all the shares of Purolator are tendered, shareholders\nwould receive for each share 29 dlrs cash, six dlrs in\ndebentures, and a warrant to buy shares in a subsidiary of PC\nAcquisition containing the U.S. courier operations.\n    Hutton said in the merger shareholders would get 46 mln\ndlrs aggregate amount of guaranteed debentures due 2002 of PC\nAcquisition and warrants to buy 15 pct of the common stock of\nthe PC courier subsidiary. Hutton said the company has valued\nthe warrants at two to three dlrs per share.\n    Purolator\'s stock price closed at 35.125 dlrs on Friday.\nWhile some analysts estimated the company was worth in the mid\n30s, at least one said it would be worth 38 to 42 dlrs.\n    This follows sales of two other Purolator units. It agreed\nrecently to sell its Canadian Courier unit to Onex Capital for\n170 mln dlrs, and previously sold its auto filters business.\n    Purolator retains its Stant division, which makes closure\ncaps for radiators and gas tanks. A Hutton spokesman said the\nfirm is reviewing its options on Stant.\n    Purolator\'s courier business has been lagging that of its\nU.S. rivals because of the high price it paid in the past\nseveral years to add air delivery to its ground fleet.\n    E.F. Hutton will provide 279 mln dlrs of its funds to\ncomplete the transaction. This so-called \"bridge\" financing\nwill be replaced later with long-term debt most likely in the\nform of bank loans, Hutton said. Hutton LBO is committed to\nkeeping the courier business, its president Warren Idsal said.\n    \"Purolator lost 120 mln dlrs over the last two years\nlargely due to U.S. courier operations, which we believe the\nmanagement is turning around. We belive it will be a very\nserious competitor in the future,\" said Idsal.\n    William Taggart, chief executive officer of U.S. Courier\ndivision, will be chief executive officer of the new company.\n    The tender offer will be conditioned on a minimum of two\nthirds of the common stock being tendered and not withdrawn to\nthe expiration of the offer as well as certain other conditions.\n    The offer will begin Thursday, subject to clearances from\nthe staff of the Interstate Commerce Commission and will expire\n20 business days after commencement unless extended.\n Reuter\n&#3;',0
'PAKISTAN COTTON OUTPUT REACHES 7.7 MLN BALES Pakistan cotton production during the\ncurrent crop season (Sept/March) reached 7.7 mln bales of 375\npounds each, up 500,000 from last season, Shafi Niaz, Chairman\nof the Agricultural Prices Commission, said.\n    Official sources said Pakistan was likely to use 3.4 mln\nbales of cotton during the current financial year ending June\nafter 2.96 mln in 1985/86 and 2.70 mln in 1984/85.\n    They said consumption would increase due to a rise in\ndemand for cotton yarn in domestic markets and abroad. Pakistan\nproduced 540 mln kilos of yarn in fiscal year 1985/86 and\nexported 157 mln.\n    The State-owned cotton export corporation was likely to\nexport 3.8 mln bales of cotton during the current fiscal year\ncompared with 3.86 mln last year, cotton traders said.\n    The traders said there would be 1.3 mln bales of cotton\ncarryover this fiscal year compared with just over a mln bales\nlast year.\n Reuter\n&#3;',0
'FINANCIAL SANTA BARBARA &lt;FSB> TO MAKE PURCHASE Financial Corp of Santa\nBarbara said it has signed a definitive agreement to purchase\nStanwell Financial, the lending operations unit of mortgage\nbanking company &lt;Stanwell Mortgage>, for undisclosed terms.\n Reuter\n&#3;',0
'ALCAN TO CLOSE WEST GERMAN ALUMINIUM SMELTER &lt;Alcan Aluminiumwerke\nGmbH>, a subsidiary of Alcan Aluminium Ltd &lt;AL.N> of Canada,\nsaid it plans to close its aluminium smelter in Ludwigshafen at\nthe end of June.\n    A spokesman said Alcan was closing the smelter, with annual\ncapacity of 44,000 tonnes and 320 employees, because of high\nelectricity costs and the low world market price of aluminium.\n    Alkan had said earlier this year it would close half the\nplant\'s capacity but decided to shut down completely when talks\nwith potential cooperation partners failed, the spokesman said.\nHe declined to name the other companies involved in the talks.\n REUTER\n&#3;',0
'BBC AG BROWN BOVERI UND CIE &lt;BBCZ.Z> 1986 YEAR Parent Company net profit 12.8 mln Swiss francs vs 7.5 mln.\n    Orders received 2.21 billion francs vs 2.61 billion.\n    Sales 2.25 billion francs vs 2.49 billion.\n    Group sales 13.83 billion francs vs 13.88 billion.\n    Group orders 11.03 billion francs vs 13.00 billion.\n REUTE\n&#3;',0
'MARRIOTT &lt;MHS> TO SELL HOTEL &lt;Four Seasons Hotels> said it and &lt;VMS\nRealty Partners> of Chicago have agreed to purchase the Santa\nBarbara Biltmore Hotel from Marriott Corp for an undisclosed\namount.\n    It said the venture will rename the hotel the Four Seasons\nBiltmore at Santa Barbara and invest over 13 mln dlrs in\nimprovements on the 228-room property.\n Reuter\n&#3;',0
'BROWN BOVERI OMITS DIVIDEND, PLANS WARRANT BOND BBC AG Brown Boveri und Cie\n&lt;BBCZ.Z> said it will omit dividend in 1986 for the second\nconsecutive year.\n    It said it planned to invite shareholders and non-voting\nstockholders to subscribe to a warrant bond issue of around 150\nmln Swiss francs to be made after the June 2 annual meeting.\n    The value of the stock subscription rights should\ncorrespond roughly to the dividend of 30 francs per share paid\nin 1984. The company also plans to issue participation\ncertificates with a par value of 70 mln Swiss francs, from\nwhich existing shareholders are excluded.\n Reuter\n&#3;',0
'VIACOM SAID IT HAS NEW NATIONAL AMUSEMENTS, MCV HOLDINGS BIDS\n ',0
'LAROCHE STARTS BID FOR NECO &lt;NPT> SHARES Investor David F. La Roche of North\nKingstown, R.I., said he is offering to purchase 170,000 common\nshares of NECO Enterprises Inc at 26 dlrs each.\n    He said the successful completion of the offer, plus shares\nhe already owns, would give him 50.5 pct of NECO\'s 962,016\ncommon shares.\n    La Roche said he may buy more, and possible all NECO\nshares. He said the offer and withdrawal rights will expire at\n1630 EST/2130 gmt, March 30, 1987.\n Reuter\n&#3;',0
'&lt;SDC SYDNEY DEVELOPMENT CORP> NINE MTHS LOSS Period ended December 31, 1986\n    Oper shr loss 1.08 dlrs vs loss 84 cts\n    Oper loss 7,700,000 vs loss 1,700,000\n    Revs 11,800,000 vs 9,800,000\n    Note: Current shr and net exclude extraordinary gain of\n300,000 dlrs or five cts shr, versus extraordinary gain of\n200,000 dlrs or four cts shr\n Reuter\n&#3;',0
'SENIOR ENGINEERING MAKES 12.5 MLN DLR US PURCHASE &lt;Senior Engineering Group Plc> said it\nreached agreement with &lt;Cronus Industries Inc> to acquire the\nwhole share capital of &lt;South Western Engineering Co> for 12.5\nmln dlrs cash. This sum is being financed by a term loan.\n    South Western is one of the U.S.\'s leading manufacturers of\nheat transfer equipment, with a turnover of 54.86 mln dlrs and\npre-tax profits of 1.72 mln in 1986.\n    Completion of the deal is conditional on approval under\nU.S. Hart-Scott-Rodino regulations which is expected within 30\ndays. Some 350,000 dlrs is payable immediately, 12 mln dlrs\npayable on completion with the balance due by June 30, 1987.\n Reuter\n&#3;',0
'CHEUNG KONG CHAIRMAN SEES STRONG RESULTS IN 1987 Cheung Kong (Holdings) Ltd &lt;CKGH.HK>\nis expecting strong results this year after reporting better\nthan expected profits in 1986, chairman Li Ka-shing said.\n    He did not give a specific earnings projection but he told\nreporters the firm will pay total dividends of not less than 19\ncents a share this year after a one-for-four bonus issue and a\nfour-for-one stock split.\n    The company earlier declared total dividends equal to 15\ncents a share for 1986, adjusting for the stock split and bonus\nissue.\n    Cheung Kong\'s earnings rose to 1.28 billion H.K. Dlrs in\n1986, well above market expectations of 920 mln to one billion\ndlrs. They compared with profits of 551.7 mln dlrs in 1985.\n    Cheung Kong also reported extraordinary gains of 983.6 mln\ndlrs mainly from the firm\'s sale of the Hong Kong Hilton Hotel\nto Hongkong Electric Holdings Ltd &lt;HKEH.HK> for one billion\ndlrs. It had gains of 81.3 mln dlrs in 1985.\n    Li attributed the surge in 1986 earnings to a buoyant local\nproperty market and substantial increases in contributions from\nassociated companies.\n    \"Looking ahead, 1987 should be another year of stability for\nthe property market,\" Li said. \"The growth in (Hong Kong\'s)\nexports is expected to stimulate the demand for industrial\nbuildings.\"\n    Cheung Kong is cash rich and is looking for new projects in\nthe British colony, Li said, noting the firm is interested in a\nland reclamation project along the Hong Kong harbour and is\nexchanging views with the government on a proposal to build a\nsecond airport.\n Reuter\n&#3;',0
'WHITTAKER CORP 1ST QTR OPER SHR 17 CTS VS 25 CTS\n ',0
'VIACOM &lt;VIA> RECEIVES TWO REVISED OFFERS Viacom International Inc said it\nreceived revised merger offers from &lt;National Amusements Inc>\nand &lt;MCV Holdings Inc>.\n    The company said the special committee plans to meet later\ntoday to review both offers.\n    Viacom said National Amusements\' Arsenal Holdings Inc\nraised the value of its offer for the Viacom shares not held by\nNational Amusements in three areas. National Amusements holds\n19.6 pct of Viacom\'s stock.\n    The cash value of the offer was raised to 42.00 dlrs from\nthe 40.50 dlrs a Viacom share offered February 23 while the\nvalue of the fraction of a share of exchangeable preferred\nbeing offered was increased to 7.50 dlrs a share from six dlrs.\nThe interest rate to be used to increase the cash value of the\nmerger, if delayed beyond April 30, was raised to nine pct from\neight pct and 12 pct after May 31.\n    A Viacom spokesman said the Arsenal Holdings\'s offer\ncontinues to include a 20 pct interest in Arsenal for present\nViacom shareholders.\n    Viacom said MCV Holdings, a group which includes the\ncompany\'s senior management and the Equitable Life Assurance\nSociety of the United States, raised the value of its offer by\nincreasing the value of the preferred being offered to 8.50\ndlrs from 8.00 dlrs a share and raising the ownership in the\nnew company to be held by present Viacom shareholders to 45 pct\nfrom 25 pct. MCV called its previous offer, made February 26,\nthe \"final\" proposed revision of its agreement with Viacom.\n Reuter\n&#3;',0
'FRENCH ESTIMATE 86/87 WHEAT DELIVERIES UNCHANGED The French Cereals Intervention Board,\nONIC, left its estimate of French 1986/87 (July/June) soft\nwheat deliveries unchanged from its last forecast at 21.98 mln\ntonnes.\n    This compared with deliveries of 24.38 mln tonnes in\n1985/86 (August/July).\n    Estimated 1986/87 maize deliveries were also left unchanged\nfrom ONIC\'s previous forecast at the beginning of February at\n9.91 mln tonnes against 10.77 mln the previous season.\n    Barley deliveries were also unchanged at 6.62 mln tonnes\nagainst 7.7 mln in 1985/86.\n Reuter\n&#3;',1
'WASTE MANAGEMENT CORP VOTES TWO FOR ONE STOCK SPLIT AND BOOSTS QTLY DIVIDEND TO 18 CTS\n ',0
'PITTSTON AGREES TO ACQUIRE WTC INTERNATIONAL IN EXCHANGE OF STOCK\n ',0
'TUESDAY MORNING INC &lt;TUES> 4TH QTR NET Shr 1.19 dlrs vs 1.46 dlrs\n    Net 3,150,185 vs 2,665,284\n    Revs 27.9 mln vs 24.1 mln\n    Avg shrs 2,653,646 vs 1,826,858\n    Year\n    Shr 1.45 dlrs vs 1.37 dlrs\n    Net 3,611,802 vs 2,502,443\n    Sales 62.2 mln vs 52.8 mln\n    Avg shrs 2,489,978 vs 1,826,858\n Reuter\n&#3;',0
'DIAGNOSTIC/RETRIEVAL SYSTEMS INC MAKES 53 MLN DLR BID FOR ROSPATCH CORP\n ',0
'MILLER TABAK HAS 91.8 PCT OF PENN TRAFFIC &lt;PNF> &lt;Miller Tabak Hirsch and Co> said it\nhas received an accepted 3,424,729 common shares of Penn\nTraffic Co in response to its 31.60 dlr per share tender offer\nthat expired Friday, and together with the 380,728 shares it\nalready owned, it now has about 91.8 pct of Penn Traffic.\n    The company said Penn Traffic is expected to hold a special\nshareholders\' meeting later this month to approve a merger into\nMiller Tabak at the tender price.\n    It said two Miller Tabak representatives will be named to\nthe Penn Traffic board on March Four to serve as the only\ndirectors with Penn Traffic president and chief executive\nofficer Guido Malacarne.\n    The company said it received financing for the transaction\nfrom First National Bank of Minneapolis and Salomon Inc &lt;SB>.\n Reuter\n&#3;',0
'COFFEE QUOTA TALKS CONTINUE BUT NO AGREEMENT YET Coffee quota talks at the International\nCoffee Organization council meeting here continued this\nafternoon, but producers and consumers still had not reached\ncommon ground on the key issue of how to estimate export\nquotas, delegates said.\n    The 54 member contact group was examining a Colombian\nproposal to resume quotas April 1 under the ad hoc system used\nhistorically, with a pledge to meet again in September to\ndiscuss how quotas would be worked out in the future, they\nsaid.\n    Delegates would not speculate on the prospects for\nagreement at this time.\n    \"Anything could happen,\" one delegate said.\n Reuter\n&#3;',0
'WASTE MANAGEMENT &lt;WMX> VOTES SPLIT, UPS PAYOUT Waste Management Corp said its\nboard voted a two-for-one stock split payable April 21, record\nMarch 30.\n    In other action, Waste Management directors approved an\nincrease in the quarterly dividend to 18 cts from 14 cts,\npayable April three, record March 18.\n Reuter\n&#3;',0
'POREX TECHNOLOGIES &lt;PORX> SETS INITIAL DIVIDEND Porex Technologies Corp said its\nboard declared an initial annual dividend of 10 cts per share,\nits first payout, payable March 26 to holders of record March\n12.\n Reuter\n&#3;',0
'DAVIS WATER &lt;DWWS> DECLARES STOCK DIVIDEND Davis Water and Waste\nIndustries Inc said its board declared a 33-1/3 pct stock\ndividend, payable March 23 to holders of record March 12.\n Reuter\n&#3;',0
'MEDCO CONTAINMENT &lt;MCCS> SETS INITIAL PAYOUT Medco Containment Services\nInc said its board declared an initial annual dividend of 10\ncts per share, its first payout, payable March 19 to holders of\nrecord March 12.\n Reuter\n&#3;',0
'PITTSTON &lt;PCO> AGREES TO ACQUIRE WTC &lt;WAF> Pittston Co said it has\ntentatively agreed to acquire WTC International N.V. in a\ntax-free exchange of stock.\n    Pittston said it agreed to exchange 0.523 common share for\neach of the about 8,612,000 WTC common shares outstanding.\n    Pittston said WTC\'s three principal shareholders, who own\n62 pct of its stock, are parties to this agreement. They have\ngranted Pittston the right of first refusal to their shares.\n    WTC has granted Pittston an option to buy WTC shares equal\nto 18.5 poct of its outstanding stock. The agreement is subject\nto approval of both boards and WTC shareholders.\n    Pittston said described WTC as a fast growing air freight\nforwarding company with operations throughout the world. Its\nrevenues totaled nearly 200 mln dlrs in the year ended November\n30 and for the quarter ended on that date it earned 1.3 mln\ndlrs on revenues of 55.8 mln dlrs.\n    Pittston said its Burlington Air Express subsidiary\ngenerates about two-thirds of its 450 mln dlrs in annual\nrevenes with its domestic air freight services.\n Reuter\n&#3;',0
'SDC SYDNEY COST REVIEW MAY ELIMINATE PRODUCTS &lt;SDC Sydney\nDevelopment Corp>, earlier reporting an increased nine month\noperating loss, said a cost control review now underway may\nresult in cost reduction and elimination of unprofitable and\nnon-strategic products and services.\n    The company\'s operating loss for the nine months ended\nDecember 31, 1986 increased to 7.7 mln dlrs from a loss of 1.7\nmln dlrs in the prior year, it said earlier.\n    Revenues increased by 20 pct to 11.8 mln dlrs from\nyear-earlier 9.8 mln dlrs.\n Reuter\n&#3;',0
'&lt;MULTI-STEP PRODUCTS INC> SIX MTHS DEC 31 LOSS Shr loss 11 cts\n    Loss 739,146\n    Revs 11,754,251\n    Note: initial public listing December, 1986\n Reuter\n&#3;',0
'U.K. MONEY MARKET OFFERED BORROWING FACILTIES The Bank of England said it had offered\nborrowing facilities to those discount houses wishing to use\nthem at 1430 GMT.\n    The Bank also said it provided the money market 456 mln stg\nassistance in the afternoon session bringing its total help so\nfar today to 493 mln stg. This compares with its forecast of a\nshortage in the system today of around 700 mln stg.\n    The central bank purchased bank bills outright comprising\n41 mln stg in band one at 10-7/8 pct 361 mln stg in band two at\n10-13/16 pct and 54 mln stg in band three at 10-3/4 pct.\n    Money market dealers said the Bank of England has recently\nused the offer of borrowing facilities to signal that it does\nnot want to see an early reduction in U.K. Base lending rates.\n    The Bank does this by lending to the discount houses at\nrates of interest higher than its prevailing money market\ndealing rates.\n REUTER\n&#3;',0
'SWISS SIGHT DEPOSITS RISE 3.10 BILLION FRANCS Sight deposits by commercial banks at the\nSwiss National Bank rose by 3.10 billion Swiss francs to 10.53\nbillion in the last 10 days of February, the National Bank\nsaid.\n    Foreign exchange reserves fell 3.06 billion francs to 30.64\nbillion.\n    Sight deposits are an important measure of Swiss money\nmarket liquidity.\n    The decline in foreign exchange reserves reflected the\ndismantling of swap arrangements, the National Bank said.\n    Banknotes in circulation rose by 834 mln francs to 24.79\nbillion while other deposits on call - mainly government funds\n- fell 1.60 billion francs to 1.04 billion.\n REUTER\n&#3;',0
' &#2;\nUSDA LIFTS CROSS-COMPLIANCE FOR 1987 CROP OATS\n    REPEAT FROM LATE FRIDAY\n    WASHINGTON, Feb 27 - The USDA said it is lifting the\nlimited cross-compliance requirement for 1987 crop oats.\n    Deputy Secretary Peter Myers said the action was being\ntaken to help alleviate the short supply of oats.\n    Under limited cross compliance, the plantings of other\nprogram crops on the farm may not exceed the crop acreage bases\nof those crops.\n    The lifting of the cross-compliance on oats permits the\nplanting of oats in excess of the oat acreage base without\nsacrificing eligibility for other crop program benefits.\n    Myers said soybean plantings are expected to decrease as a\nresult of the action on oats, planting of which are expected to\nincrease by two to three mln acres.\n Reuter\n&#3;\n\n',1
'CONSOLIDATED TVX SAYS IT WILL ISSUE SHARES TO BUY STAKES IN THREE BRAZIL MINING FIRMS\n ',0
'WHITTAKER CORP &lt;WKR> 1ST QTR JAN 31 NET Oper shr 17 cts vs 25 cts\n    Qtly div 15 cts vs 15 cts prior\n    Oper net 1,522,000 vs 3,501,000\n    Sales 98.0 mln vs 86.3 mln\n    NOTE: Prior year net excludes loss from discontinued\noperations of 1,817,000 dlrs.\n    Company said common shares outstanding down significantly\nto 7,814,000, reflecting retirement of about 5,200,000 shares\nsince start of restructurining in August 1986.\n    Dividend pay April 30, record April 16.\n Reuter\n&#3;',0
'STOP AND SHOP COS INC &lt;SHP> 4TH QTR JAN 31 NET Oper shr 1.80 dlrs vs 1.46 dlrs\n    Oper net 25.0 mln vs 20.2 mln\n    Sales 1.09 billion vs 996.4 mln\n    Avg shrs 13.9 mln vs 13.8 mln\n    Year\n    Oper shr 3.20 dlrs vs 2.57 dlrs\n    Oper net 44.4 mln vs 35.4 mln\n    Sales 3.87 billion vs 3.43 billion\n    Avg shrs 13.9 mln vs 13.8 mln\n    NOTES: Operating net excludes losses of 12.1 mln dlrs, or\n87 cts a share, vs 321,000 dlrs, or two cts a share, in quarter\nand 6.0 mln dlrs, or 43 cts a share, vs 5.1 mln dlrs, or 37 cts\na share, from discontinued operations. This includes provision\nin latest quarter of 12.2 mln dlrs for closing of Almys\nDepartment Store Co.\n    Operating net in latest quarter and year includes 750,000\ndlrs charge for restructuring announced in early January\n Reuter\n&#3;',0
'JIM WALTER CORP &lt;JWC> REGULAR DIVIDEND Qtly div 35 cts vs 35 cts in prior qtr\n    Payable April one\n    Record March 14\n Reuter\n&#3;',0
'DIAGNOSTIC &lt;DRS> MAKES A BID FOR ROSPATCH &lt;RPCH> Diagnostic Retrieval Systems Inc\nsaid it has made an offer to acquire, through a wholly owned\nunit, all outstanding shares of Rospatch Corp\'s common stock\nfor 22 dlrs a share cash, or about 53 mln dlrs.\n    DRS, a warfare systems producer, said it would make the\ntransaction through a cash tender offer for all, but not less\nthan 51 pct, of Rospatch\'s outstanding common stock followed by\na merger with Rospatch, a labels, high technology and wood\nproducer, at the same purchase price per share.\n    DRS said the deal is subject to approval by the Rospatch\nboard, and the tender offer expires on March 6, 1986.\n Reuter\n&#3;',0
'RECORD N.Z. FUTURES VOLUMES TRADED IN FEBRUARY The volume of contracts traded on the\nNew Zealand Futures Exchange (NZFE) reached a record 25,559\ncontracts in February, the International Commodities Clearing\nHouse (ICCH) said.\n    The previous high was 22,583 contracts in December 1986.\n    The ICCH said the value of the contracts traded in February\nwas 2.90 billion N.Z. Dlrs.\n    The seven contracts currently traded on the NZFE are:\nfive-year government bonds, the share price index, 90-day bank\nbills, 90-day prime commercial paper, the U.S. Dollar,\ncrossbred wool, and wheat.\n Reuter\n&#3;',1
'WHITTAKER &lt;WKR> TO HAVE GAINS FROM SALES Whittaker Corp said it will have a\ngain on the sale of discontinued businesses after any operating\nlosses from the businesses up until the dates of disposition,\nbut it will defer reporting the gain until its restructuring\nprogram hsa been substantially completed.\n    The company said in the first quarter ended January 31,m it\ncompleted the divestiture of its health maintenance\norganization operations to Travelers Corp &lt;TIC> , sold its\nWhittar Steel Strip operations to &lt;DofascoxInc> and sold its\nequity investment in Bertram-Trojan Inc to an affiliate of\n&lt;Investcorp>.\n    The company said it has entered into definitive agreements\nto sell Whittaker General Medical Corp, Bennes MArrel SA of\nFrance and Juster Steel Corp as well.\n    The company said to date it has received proceeds of about\n90 mln dlrs from divestitures and has used the funds to reduce\ndebt incurred in the repurchase of its common shares.\n    Whittaker today reported first quarter earnings from\ncontinuing operations fell to 1,522,000 dlrs from 3,501,000\ndlrs a year before. The year-earlier figure excluded a\n1,817,000 dlr loss from discontinued operations.\n Reuter\n&#3;',0
'THE JAPAN FUND &lt;JPN> GETS BUYOUT OFFER The Japan Fund Inc said it has received\nan unsolicited offer from &lt;Sterling Grace Capital Management\nLP>, acting together with certain other persons and entities,\nto purchase all the assets of the fund at five pct below its\naggregate net asset value.\n    The Japan Find said tne deal is subject to obtaining\nsatisfactory financing and a due diligence review.\n    It added that the proposal has been referred to its Board\nof Directors for consideration.\n Reuter\n&#3;',0
'&lt;SAMSUNG CO> CALENDAR 1986 Div 50 won vs 50 won\n    Net profit 6.91 billion won vs 6.10 billion\n    Sales 4,275.4 billion vs 3,801,7 billion\n    Note - Company has set 1987 sales target of 4,800 billion\nwon.\n Reuter\n&#3;',0
'&lt;DAEWOO CORP> CALENDAR 1986 Div 50 won vs 50 won\n    Net profit 35.4 billion won vs 34.2 billion\n    Sales 4,214.9 billion won vs 3,779.2 bilion\n    Note - company has set 1987 sales target of 5,200 billion.\n REUTER\n&#3;',0
'CORNING TO OFFER 0.5165 SHARE FOR EACH HAZLETON SHARE UNDER EARLIER AGREEMENT\n ',0
'BANK OF NEW YORK &lt;BK> TO HAVE GAIN ON UNIT SALE Bank of New York Co said it and the\nmanagement of RMJ Securities Corp have agreed to sell 80 pct of\ntheir interests in RMJ Holding Corp to &lt;British and\nCommonwealth Holdings PLC> and Bank of New York expects to\nrealize a substantial gain on the transaction.\n    RMJ Holding is the holding company for RMJ Securities, a\nlarge broker of U.S. government securities and agency\nobligations  Bank of New York owns a majority interest in RMJ\nHolding and management of RMJ Securities the remainder.\n    Bank of New York said the sale is expected to be completed\nduring the second quarter.\n    It said it and RMJ Securities management will continue to\nown 20 pct of RMJ Holding for now, but the agreement provides\nfor the sale of that remaining interest to British and\nCommonwealth over the next six years.\n Reuter\n&#3;',0
'CORNING &lt;GLW>, HAZLETON &lt;HLC> SET EXCAHNGE RATIO Corning Glass Works said the\nexchange ratio for its previously announced acquisition of\nHazleton Laboratories Corp has been established at 0.5165\nCorning common share for each Hazleton common share.\n    Corning said the prospectus regarding the merger is\nexpected to be mailed tomorrow to all Hazleton holders of\nrecord February 18. Hazleton shareholders will vote on the\nproposed merger at a special meeting on March 31.\n Reuter\n&#3;',0
'HEALTH EXPERTS URGE ERADICATION OF RINDERPEST World animal health experts called for a\ncampaign to eradicate the lethal cattle disease Rinderpest in\nBangladesh, Bhutan, India, Nepal and Pakistan, a statement from\na Food and Agriculture Organization (FAO) meeting here said.\n    Some 230 mln dlrs is needed over two years to vaccinate the\nentire susceptible cattle population in Bangladesh and Pakistan\nand high-risk areas of the other three countries. In India some\n240 mln cattle are estimated to be at risk from the disease.\n    The experts recommended the campaign be funded mostly by\nthe governments of the five nations, with help from the FAO.\nSimilar campaigns are needed in Egypt, Yemen, Iraq and Iran.\n Reuter\n&#3;',0
'TURKISH RETAIL PRICES RISE 2.7 PCT IN FEBRUARY Turkish retail prices rose 2.7 pct in\nFebruary after 2.9 pct in January and 1.7 pct in February 1986,\nthe State Statistics Institute said.\n    Prices in the year to February rose 31.6 pct, compared with\n30.3 pct in the year to January and 38.8 pct in the 12 months\nto February 1986.\n    The index (base 1978/79), covering 14 towns and five\nregions, was 1,886.8 in February, 1,837.2 in January and\n1,434.0 in February 1986.\n REUTER\n&#3;',0
'BALLY &lt;BLY> COMPLETES PURCHASE OF GOLDEN NUGGET Bally Manufacturing Corp said it\ncompleted the acquisition of the Golden Nugget Casino Hotel in\nAtlantic City, New Jersey from Golden Nugget Inc.\n    Bally also acquired from Golden Nugget various parcels of\nreal estate in Atlantic City, it noted.\n    The transaction included 140 mln dlrs in cash and stock and\nthe assumption of a 299 mln dlrs mortgage.\n Reuter\n&#3;',0
'CONSOLIDATED TVX TO BUY BRAZIL GOLD MINE STAKES &lt;Consolidated TVX Mining Corp> said it\nagreed to issue 7.8 mln treasury shares to acquire interests in\nthree gold mining companies in Brazil and an option to increase\nthe company\'s interest in a platinum property.\n    The company said the transactions will bring immediate\nproduction and earnings to Consolidated TVX, enhance its\nprecious metal potential and is expected to improve cash flow\nand earnings on a per share basis. The company did not give\nspecific figures.\n    Consolidated TVX said it will acquire 29 pct of CMP, a\npublic gold mining company in which TVX already holds a 15 pct\ninterest, making TVX the largest single shareholder.\n    The company also agreed to acquire a 19 pct stake in Novo\nAstro, a private company, and a 16 pct interest in Teles Pires\nMining, increasing the TVX\'s ownership to 51 pct.\n    In addition, Consolidated TVX said it will acquire the\nright to add a 10 pct interest to a platinum property in which\nit already owns a 29.4 pct stake.\n    CMP earned 11 mln Canadian dlrs in 1986 and expects to\nproduce 42,000 ounces of gold in 1987 at a cost of 160 U.S.\ndlrs an ounce, Consolidated TVX said.\n    Novo Astro operates Brazil\'s richest gold mine located in\nAmapa State, with an average grade of 0.8 ounces of gold a ton\nin a hardrock quartz vein, Consolidated TVX said. Mining of\neluvial surface material produced 25,000 ounces in 1986 and is\nexpected to produce 60,000 ounces in 1987.\n    It also said Teles Pires Mining controls rights to a 350\nkilometer section of the Teles Pires River, where one dredge is\nexpected to produce 10,000 ounces of gold in 1987.\n Reuter\n&#3;',0
'WARWICK INSURANCE MANAGERS INC &lt;WIMI> 4TH QTR Oper shr 17 cts vs 19 cts\n    Oper net 636,000 vs 358,000\n    Revs 10.6 mln vs 7,024,000\n    Avg shrs 3,808,000 vs 1,924,000\n    Year\n    Oper shr 73 cts vs 65 cts\n    Oper net 2,467,000 vs 1,199,000\n    Revs 31.5 mln vs 22.9 mln\n    Avg shrs 3,372,000 vs 1,785,000\n    NOTE: Net excludes investment gains 20,000 dlrs vs 86,000\ndlrs in quarter and 586,000 dlrs vs 195,000 dlrs in year.\n    1985 year net excludes 304,000 dlr tax credit.\n    Share adjusted for one-for-two reverse split in November\n1985.\n Reuter\n&#3;',0
'CANADA INDUSTRIAL PRICES UP 0.2 PCT IN MONTH Canada\'s industrial product price index\nrose 0.2 pct in January after falling 0.2 pct in each of the\ntwo previous months, Statistics Canada said.\n    The rise was led by price gains for papers, pharmaceuticals\nand petroleum and coal products. Price declines were recorded\nfor meat products, lumber and motor vehicles.\n    On a year over year basis, the federal agency said the\nindex fell 0.9 pct in January, the largest yearly decline on\nrecord.\n Reuter\n&#3;',0
'GELCO CORP 2ND QTR SHR 67 CTS VS 23 CTS\n ',0
'STROBER ORGANIZATION INC &lt;STRB> 4TH QTR NET Shr 22 cts vs 17 cts\n    Net 1,232,000 vs 834,000\n    Sales 24.1 mln vs 20.9 mln\n    Avg shrs 5,609,000 vs five mln\n    Year\n    Shr 97 cts vs 69 cts\n    Net 4,985,000 vs 3,426,000\n    Sales 92.4 mln vs 77.9 mln\n    Avg shrs 5,153,000 vs five mln\n Reuter\n&#3;',0
'SHELL CANADA CUTS CRUDE OIL PRICES BY UP TO 1.27 CANADIAN DLRS/BBL EFFECTIVE MARCH ONE\n ',0
'BRENCO INC &lt;BREN> DECLARES QTLY DIVIDEND Qtly div three cts vs three cts prior\n    Pay April six\n    Record March 20\n Reuter\n&#3;',0
'MASSACHUSETTS INVESTORS GROWTH STOCK FUND PAYOUT Qtly div from income 5.1 cts vs 3.035 dlrs in prior qtr\nincluding capital gains of 2.978 dlrs\n    Payable March 27\n    Record February 27\n Reuter\n&#3;',0
'&lt;PREMDOR INC> 4TH QTR NET Shr 35 cts vs 25 cts\n    Net 1,590,000 vs 1,140,000\n    Revs 32.2 mln vs 23.0 mln\n    YEAR\n    Shr 1.16 dlrs vs 68 cts\n    Net 5,300,000 vs 3,100,000\n    Revs 110.0 mln vs 85.4 mln\n Reuter\n&#3;',0
'AMERICAN NURSERY &lt;ANSY> BUYS FLORIDA NURSERY American Nursery Products Inc\nsaid it purchased Miami-based Heinl\'s Nursery Inc, for\nundisclosed terms.\n    Heinl\'s Nursery has sales of about 4.5 mln dlrs and owns\n100 acres, of which 75 are in shade houses and about 58,300\nsquare feet cover greenhouses, shipping and office facilities.\n Reuter\n&#3;',0
'MFS MANAGED SECTORS TRUST DIVIDEND INCREASED Semi-annual div from income of 7.3 cts vs 1.0 cent in prior\nperiod\n    Payable March 27\n    Record February 27\n Reuter\n&#3;',0
'MULTI-STEP TO SELL LADDER UNIT, CANCEL SHARES &lt;Multi-Step Products Inc>, earlier\nreporting an initial six month loss, said it agreed to sell\nwholly owned Multi-Step Manufacturing Inc for 100,000 dlrs\ncash, subject to shareholder and regulatory approval.\n    Multi-Step also said it will pay 900,000 dlrs to cancel\n711,192 of its own shares, which will be acquired from Michael\nPenhale and his benficiaries. Penhale will control and manage\nMulti-Step Manufacturing, following the transactions.\n    Multi-Step had a 739,146 dlr loss for the six months ended\nDecember 31. The company received its initial public listing in\nDecember.\n    The company said its ladder-making unit has been losing\n300,000 dlrs quarterly.\n    The sale, expected to close in April, also calls for\nretirement of the unit\'s 400,000 dlr bank debt, Multi-Step\nsaid. The unit also has agreed to pay a debt of 400,000 dlrs to\nTarxien Company Ltd, which is 40 pct owned by Multi-Step.\n    Multi-Step previously said it agreed to acquire the\nremaining 60 pct of Tarxien it does not already own.\n Reuter\n&#3;',0
'ESSELTE BUSINESS &lt;ESB> UNIT BUYS ANTONSON UNIT Esselte Business Systems Inc\'s\nEsselte Meto division said it has acquired the Antonson America\nCo, a subsidiary of &lt;Antonson Machines AB>, of Sweden.\n    Esselte said the Antonson unit, based in LaPorte, Indiana,\nmanufactures scales and label printers. The company said the\npurchase is part of a plan to increase the range of retail\nelectronic scales being offered by Esselte in the U.S.\n    It said the acquisition will enble Esselte to increase its\ndistribution base in its effort to grow in the U.S.\n Reuter\n&#3;',0
'FED EXPECTED TO ADD TEMPORARY RESERVES The Federal Reserve is expected to\nenter the U.S. Government securities market to add temporary\nreserves, economists said.\n    They expect it to supply the reserves indirectly by\narranging a fairly large round, two billion dlrs or more, of\ncustomer repurchase agreements. The Fed may add the reserves\ndirectly instead via System repurchases.\n    Federal funds, which averaged 6.02 pct on Friday, opened at\n6-1/8 pct and traded between there and 6-1/16 pct. Funds are\nunder upward pressure from settlement of recently sold two-year\nnotes and from a Treasury tax and loan call on banks.\n Reuter\n&#3;',0
'FOUR SEASONS BUYING MARRIOTT &lt;MHS> HOTEL &lt;Four Seasons Hotels Inc> and VMS Realty\nPartners said they agreed to acquire the Santa Barbara Biltmore\nHotel in California from Marriott Corp, for undisclosed terms.\n    Closing was expected by March 31, they added.\n    The companies said they would jointly own the hotel and\nrename it the Four Seasons Biltmore at Santa Barbara. They said\nthey would spend more than 13 mln U.S. dlrs \"to enhance the\nBiltmore\'s position as one of the finest resort hotels in North\nAmerica.\" Chicago-based VMS Realty is a real estate and\ndevelopment firm.\n Reuter\n&#3;',0
'STONE &lt;STO> SPLITS STOCK, RAISES PAYOUT Stone Container Corp said it is\nsplitting its common stock 2-for-1 and increasing its dividend\n33-1/3 pct.\n    The dividend of 20 cts a share, an increase of five cts\nover the prior 15 cts a share on pre-split shares, is payable\nJune 12 to holders of record May 22.\n    The stock split also is payable June 12 to holders of\nrecord May 22.\n Reuter\n&#3;',0
'S-K-I LTD &lt;SKII> 2ND QTR JAN 25 NET Shr 81 cts vs 57 cts\n    Net 3,660,273 vs 2,437,914\n    Rev 28.5 mln vs 23.1 mln\n    Six months\n    Shr 29 cts vs 12 cts\n    Net 1,325,755 vs 483,559\n    Rev 31.7 mln vs 26.4 mln\n Reuter\n&#3;',0
'KAPOK CORP &lt;KPK> YEAR SEPT 30 LOSS Shr loss 20 cts vs profit 96 cts\n    Net loss 499,000 vs profit 2,369,000\n    Revs 11.5 mln vs 10.3 mln\n    NOTE: Prior year net includes gain on sale of property of\n4,557,000 dlrs.\n Reuter\n&#3;',0
'CARGILL U.K. STRIKE TALKS POSTPONED Talks due today between management and\nunions to try to end the strike at Cargill U.K. Ltd\'s Seaforth\noilseed crushing plant have been rescheduled for Thursday, a\ncompany spokesman said.\n    Oilseed processing at the plant has been halted since\nDecember 19 when mill workers walked out in protest at new\ncontract manning levels.\n Reuter\n&#3;',0
'AMAX &lt;AMX> IN GOLD, SILVER FIND AMAX Incx said it has identified\nadditional gold and silver ore reserves at its AMAX Sleeper\nMine near Winnemucca, Nev..\n    It said as a result of recent drilling, reserves at thhe\nmine are now estimated at 2,470,000 short tons of ore grading\n0.24 ounce of gold and 0.50 ounce of silver per ton that is\ntreatable by conventional milling techniques.\n    AMAX said additional reserves amenable to heap leaching are\nestimated at 38.3 mln tons averaging 0.025 ounce gold and 0.24\nounce silver per ton.  Further drilling is being conducted, it\nsaid.\n Reuter\n&#3;',0
'STUDY GROUP URGES INCREASED U.S. OIL RESERVES A study group said the United States\nshould increase its strategic petroleum reserve to one mln\nbarrels as one way to deal with the present and future impact\nof low oil prices on the domestic oil industry.\n    U.S. policy now is to raise the strategic reserve to 750\nmln barrels, from its present 500 mln, to help protect the\neconomy from an overseas embargo or a sharp price rise.\n    The Aspen Institute for Humanistic Studies, a private\ngroup, also called for new research for oil exploration and\ndevelopment techniques.\n    It predicted prices would remain at about 15-18 dlrs a\nbarrel for several years and then rise to the mid 20s, with\nimports at about 30 pct of U.S. consumption.\n    It said instead that such moves as increasing oil reserves\nand more exploration and development research would help to\nguard against or mitigate the risks of increased imports.\n Reuter\n&#3;',0
'K-TRON INTERNATIONAL INC &lt;KTII> 4TH QTR NET Oper shr profit 36 cts vs loss 1.48 dlrs\n    Oper net profit 1,353,000 vs loss 5,551,000\n    Revs 11.3 mln vs 8,142,000\n    Year\n    Oper shr profit 31 cts vs loss 1.58 dlrs\n    Oper net profit 1,165,000 vs loss 5,919,000\n    Revs 38.0 mln vs 31.6 mln\n    NOTE: Net includes pretax unusual gain 64,000 dlrs vs loss\n4,744,000 dlrs in quarter and losses 3,0077,000 dlrs vs\n4,744,000 dlrs in year.  1986 items include settlement of\npatent suit and provision for investment writeoff and 1985 item\nprovision for loss on sale of scale business.\n    1986 net both periods excludes 400,000 dlr tax credit.\n Reuter\n&#3;',0
'PRESIDENTIAL REALTY CORP &lt;PDO> ANNUAL NET Shr 1.65 dlrs vs 1.50 dlrs\n    Net 5,370,000 vs 4,901,000\n    Rev 8.4 mln vs 7.8 mln\n    NOTE: 1986 net gain from property investments 717,000 dlrs,\nor 22 cts per share, vs 721,000 dlrs, or 22 cts per share.\n Reuter\n&#3;',0
'REDSTONE DETAILS SWEETENED VIACOM &lt;VIA> OFFER Investor Sumner Redstone, who leads\none of the two groups vying for control of Viacom International\nInc, offered to sweeten his bid for the company by 1.50 dlrs a\nshare cash and 1.50 dlrs in securities.\n    In a filing with the Securities and Exchange Commission,\nRedstone, who controls Dedham, Mass.,-based National Amusements\nInc, a theater chain operator, offered to raise the cash\nportion of its Viacom offer to 42 dlrs a share from 40.50 dlrs.\n    Redstone also raised the face value of the preferred stock\nhe is offering to 7.50 dlrs from six dlrs.\n    The Redstone offer, which is being made through Arsenal\nHoldings Inc, a National Amusements subsidiary set up for that\npurpose, which also give Viacom shareholders one-fifth of a\nshare of Arsenal common stock after the takeover.\n    Viacom said earlier today it received revised takeover bids\nfrom Redstone and MCV Holdings Inc, a group led by Viacom\nmanagement which is competing with Redstone for control of the\ncompany and already has a formal merger agreement with Viacom.\n    The company did not disclose the details of the revised\noffers, but said a special committee of its board would review\nthem later today.\n    The Redstone group, which has a 19.5 pct stake in Viacom,\nand the management group, which has a 5.4 pct stake, have both\nagreed not to buy more shares of the company until a merger is\ncompleted, unless the purchases are part of a tender offer for\nat least half of the outstanding stock.\n    The two rivals also signed confidentiality agreements,\nwhich give them access to Viacom\'s financial records provided\nthey keep the information secret.\n    In his SEC filing, Redstone, who estimated his cost of\ncompleting the takeover at 2.95 billion dlrs, said Bank of\nAmerica is confident it can raise 2.275 billion dlrs.\n    Besides the financing it would raise through a bank\nsyndicate, Bank of America has also agreed to provide a\nseparate 25 mln dlr for the limited purpose of partial\nfinancing and has committed to provide another 592 mln dlrs,\nRedstone said.\n    Merrill Lynch, Pierce Fenner and Smith Inc has increased\nits underwriting commitment to 175 mln dlrs of subordinated\nfinancing debt for the Viacom takeover, from the 150 mln dlrs\nit agreed to underwrite earlier, Redstone said.\n    Redstone said his group would contribute more than 475 mln\ndlrs in equity toward the takeover.\n    The Redstone equity contribution to the takeover would\nconsist of all of his group\'s 6,881,800 Viacom common shares\nand at least 118 mln dlrs cash, he said.\n    The new offer, the second sweetened deal Redstone has\nproposed in his month-long bidding war with management, also\ncontains newly drawn up proposed merger documents, he said.\n    Last week, the management group submitted what it called\nits last offer for the company, valued at 3.1 mln dlrs and\nconsisting of 38.50 dlrs a share cash, preferred stock valued\nat eight dlrs a share and equity in the new company. Redstone\'s\nprevious offer had been valued at 3.2 billion dlrs.\n Reuter\n&#3;',0
'MONTEDISON CONCLUDES TALKS WITH ANTIBIOTICOS Montedison Spa &lt;MONI.MI> said it has\nconcluded its negotiations with Spanish pharmaceuticals company\n&lt;Antibioticos SA>.\n    A company spokesman told Reuters \"We have concluded the\ntalks and we are now awaiting authorization from Spanish\nauthorities.\" He declined to comment further.\n    Earlier today the Italian company postponed a scheduled\npress conference on its talks with Antibioticos. An Italian\npress report today said Montedison has agreed to acquire\nAntibioticos for 500 billion lire.\n REUTER\n&#3;',0
'UTILICORP &lt;UCU> COMPLETES ACQUISITION UtiliCorp United Inc said it\ncompleted the acquisition of West Virginia Power from Dominion\nResources for about 21 mln dlrs.\n    The sale was approved by the West Virginia Public Service\nCommission in January and became effective March one. West\nVirginia\'s management will continue to be responsible for\noperating the utility, it said.\n Reuter\n&#3;',0
'TRADERS DETAIL FRENCH CEREAL EXPORT REQUESTS French operators last Friday requested\nlicences to export 10,500 tonnes of free market maize, 11,950\ntonnes of free market barley and 13,000 of soft wheat flour to\nnon-EC countries, at prefixed daily (droit commun) rebates,\nFrench trade sources said.\n    The latest requests for the maize were for export to\nSwitzerland, Austria and Lichtenstein at a maximum daily rebate\nprefixed last Friday at 141 Ecus a tonne against a previous 20\nEcu daily rebate.\n    The special daily rebate for maize was set in the context\nof a Commission commitment to grant this season rebates for the\nexport of 500,000 tonnes of French maize to non-EC countries,\nin compensation for concessions to the U.S. in the recent\ndispute over grain sales to Spain.\n    If the latest French requests are accepted as expected,\nthis will bring the total of French maize exported in this\ncontext to 25,500 tonnes.\n    The Commission last Thursday granted weekly rebates for the\nsale of 15,000 tonnes of free market maize to non-EC countries.\n    Requests for barley were for export to Switzerland, Austria\nand Lichtenstein, Ceuta and Melilla at an unchanged pre-fixed\nrestitution of 125 Ecus a tonne, while requests for soft wheat\nflour were for export to various non-EC countries at an\nunchanged 178 Ecus a tonne.\n Reuter\n&#3;',1
'STUDY GROUP URGES INCREASED U.S. OIL RESERVES A study group said the United States\nshould increase its strategic petroleum reserve to one mln\nbarrels as one way to deal with the present and future impact\nof low oil prices on the domestic oil industry.\n    U.S. policy now is to raise the strategic reserve to 750\nmln barrels, from its present 500 mln, to help protect the\neconomy from an overseas embargo or a sharp price rise.\n    The Aspen Institute for Humanistic Studies, a private\ngroup, also called for new research for oil exploration and\ndevelopment techniques.\n    It predicted prices would remain at about 15-18 dlrs a\nbarrel for several years and then rise to the mid 20s, with\nimports at about 30 pct of U.S. consumption.\n    The study cited two basic policy paths for the nation: to\nprotect the U.S. industry through an import fee or other such\ndevice or to accept the full economic benefits of cheap oil.\n    But the group did not strongly back either option, saying\nthere were benefits and drawbacks to both.\n    It said instead that such moves as increasing oil reserves\nand more exploration and development research would help to\nguard against or mitigate the risks of increased imports.\n Reuter\n&#3;',0
'CARBIDE &lt;UK> LOOKS TO ACQUISITIONS FOR GROWTH Union Carbide Corp is looking to\nacquisitions and joint ventures to aid its chemicals and\nplastics growth, according the H.W. Lichtenberger, president of\nChemicals and Plastics.\n    Describing this as a major departure in the company\'s\napproach to commercial development, he told the annual new\nbusiness forum of the Commercial Development Association \"We\nare looking to acquisitions and joint ventures when they look\nlike the fastest and most promising routes to the growth\nmarkets we\'ve identified.\"\n    Not very long ago Union Carbide had the attitude \"that if\nwe couldn\'t do it ourselves, it wasn\'t worth doing. Or, if it\nwas worth doing, we had to go it alone,\" Lichtenberger\nexplained.\n    He said \"there are times when exploiting a profitable\nmarket is done best with a partner. Nor do we see any need to\nplow resources into a technology we may not have if we can link\nup profitably with someone who is already there.\"\n    He said Carbide has extended its catalyst business that way\nand is now extending its specialty chemicals business in the\nsame way.\n Reuter\n&#3;',0
'CORRECTED - BANKAMERICA NEGOTIATING SALE OF UNITS Bank of America NT and SA\'s\n&lt;BAC.N> West German branch said it is negotiating the sale of\nBankhaus Centrale Credit AG, a small local West German bank it\nacquired in 1965, and of its West German Visa credit card\noperation.\n    Michael Seibel, Bank of America vice-president and regional\nmanager, said the negotiations were proceeding well. He\ndeclined to give further details.\n    Bank of America\'s West German branch lost some 32 mln marks\nin 1985. The result includes profit and loss transfers from\nBankhaus Centrale Credit and the Visa organisation. The sale of\nthe units is part of the bank\'s worldwide restructuring plan.\n REUTER\n&#3;',0
'&lt;FRANKLIN GOLD FUND> CUTS DIVIDEND Semi div 13 cts vs 18 cts prior\n    Pay March 13\n    Record March Two\n Reuter\n&#3;',0
'&lt;FRANKLIN CALIFORNIA TAX-FREE INCOME FUND>PAYOUT Mthly div 4.5 cts vs 4.5 cts prior\n    Pay March 13\n    Record March Two\n Reuter\n&#3;',0
'&lt;FRANKLIN AGE HIGH INCOME FUND> SETS PAYOUT Mthly div 3.6 cts vs 3.6 cts prior\n    Pay March 13\n    Record March Two\n Reuter\n&#3;',0
'PETRO-CANADA CUT CRUDE PRICES BY 1.43 CANADIAN DLRS/BBL EFFECTIVE MARCH ONE\n ',0
'&lt;FRANKLIN FEDERAL TAX-FREE INCOME FUND> PAYOUT Mthly div 7.7 cts vs 7.7 cts prior\n    Pay March 13\n    Record March Two\n Reuter\n&#3;',0
'&lt;FRANKLIN NEW YORK TAX-FREE INCOME FUND> PAYOUT Mthly div 7.3 cts vs 7.3 cts prior\n    Pay March 13\n    Record March Two\n Reuter\n&#3;',0
'&lt;FRANKLIN U.S. GOVERNMENT SECURITIES FUND>PAYOUT Mthly div six cts vs six cts prior\n    Pay March 13\n    Record March Two\n Reuter\n&#3;',0
'CANADA RULING ON U.S. CORN INJURY DUE THIS WEEK The Canadian government is expected\nto announce later this week its final ruling whether U.S. corn\nexports to Canada have injured Ontario corn growers, U.S.\ngovernment and farm group representatives said.\n    The deadline for a final determination is March 7.\n    U.S. officials said they are encouraged by the outcome in a\nsimilar case covering European pasta imports. In that case,\nCanada decided pasta imports, which take about ten pct of the\nCanadian market, did not injure domestic producers. U.S. corn\nexports represent only about five pct of the Canadian market.\n    Canada slapped a 1.05 dlrs per bushel duty on U.S. corn\nimports in November 1986, but reduced the duty to 85 cts last\nmonth because the Canadian government said U.S. subsidies to \ncorn producers were less than Canada earlier estimated.\n Reuter\n&#3;',1
'FIRST MISSISSIPPI CORP &lt;FRM> SETS PAYOUT Qtly div six cts vs six cts prior\n    Pay April 28\n    Record March 31\n Reuter\n&#3;',0
'ROTTERDAM PORT UNION AND EMPLOYERS TO MEET Dutch port and transport union, FNV,\nagreed to an employers\' request to reconvene abandoned peace\ntalks tonight to try to end strikes that have disrupted\nRotterdam\'s general cargo sector for the past six weeks, a\nunion spokesman said.\n    Talks broke down Thursday when the union walked out after\nemployers tabled their final offer to end the strikes which\nstarted January 19 in protest at planned redundancies of 800\nfrom the sector\'s 4,000 workforce, starting with 350 this year.\n    The employers\' invitation to restart the talks comes on the\nday a deadline set by Minister of Social Affairs Louw de Graaf\nfor a resolution of the dispute expires.\n    De Graaf said if the dispute had not ended by today he\nwould withdraw the 10 mln guilder annual labour subsidy to the\nsector.\n    No comment was immediately available from the employers\'\norganization.\n Reuter\n&#3;',0
'FED SETS 1.5 BILLION DLR CUSTOMER REPURCHASE, FED SAYS\n ',0
'JIM WALTER CORP &lt;JWC> SETS PAYOUT Qtly div 35 cts vs 35 cts prior\n    Pay April One\n    Record March 14\n Reuter\n&#3;',0
'FED ADDS RESERVES VIA CUSTOMER REPURCHASES The Federal Reserve entered the U.S.\nGovernment securities market to arrange 1.5 billion dlrs of\ncustomer repurchase agreements, a Fed spokesman said.\n    Dealers said Federal funds were trading at 6-3/16 pct when\nthe Fed began its temporary and indirect supply of reserves to\nthe banking system.\n Reuter\n&#3;',0
'JAPAN\'S NTT FORECASTS PROFITS FALL IN 1987/88 &lt;Nippon Telegraph and Telephone Corp>\n(NTT) expects its profits to fall to 328 billion yen in the\nyear ending March 31, 1988 from a projected 348 billion this\nyear, the company said.\n    Total sales for the same period are expected to rise to\n5,506 billion yen from a projected 5,328 billion this year, NTT\nsaid in a business operations plan submitted to the Post and\nTelecommunications Ministry.\n    NTT said it plans to make capital investments of 1,770\nbillion yen in 1987/88, including 109 billion for research and\ndevelopment, as against a total of 1,600 billion this year.\n Reuter\n&#3;',0
'EC COMMISSION GIVEN PLAN TO SAVE STEEL INDUSTRY European Community steelmakers\npresented the Executive Commission with a controversial plan\nfor the future of the industry which diplomats say it may be\nforced reluctantly to accept.\n    Under the plan steel output would remain subject to\nrestrictive quotas and imports would be firmly controlled for\nyears to come while steel firms undertook a massive\nslimming-down operation to adjust capacity to lower demand.\n    Industry Commissioner Karl-Heinz Narjes has proposed the\nending of the quota system by December 1988.\n    He has proposed a return to the free market, which under EC\nlaw is supposed to exist except in times of \"manifest crisis.\"\n    But diplomats said some ministers who meet to discuss this\nidea on March 19 will argue that steel firms are in crisis in\ntheir countries, with orders falling as customers switch to\nalternative products and accounts firmly in the red.\n    Ministers from the EC\'s major steel producing countries are\nlikely to shy away from Narjes\' proposals and could back the\nindustry\'s own plan instead, in the hope of minimising the\npolitical impact of plant closures, they said.\n    Industry sources said the plan presented to Narjes by the\nEC steelmakers\' lobby group Eurofer would retain the quota\nproduction system at least until the end of 1990.\n    Eurofer said in a statement consultants working for it\nidentified scope for closing plants on a \"voluntary\" basis to\nreduce capacity by 15.26 mln tonnes a year.\n    Cuts were still insufficient in one production area, that\nof hot rolled coils, and further talks were needed.\n    Eurofer added the industry would need the support of the\nCommission and governments in carrying out a closure program,\nparticularly with social costs such as redundancy payments.\n    The EC steel industry has already shed 240,000 jobs this\ndecade while reducing annual capacity by 31 mln tonnes.\n Reuter\n&#3;',0
'DURO-TEST CORP &lt;DUR> 2ND QTR JAN 31 NET Shr 10 cts vs 14 cts\n    Net 531,896 vs 727,781\n    Revs 16.0 mln 16.8 mln\n    Six mths\n    Shr 30 cts vs 39 cts\n    Net 1,532,431 vs 2,000,732\n    Revs 32.7 mln vs 34.5 mln\n Reuter\n&#3;',0
'&lt;FRANKLIN UTILITIES FUND> SETS PAYOUT Qtly div 14 cts vs 14 cts prior\n    Pay March 13\n    Record March Two\n Reuter\n&#3;',0
'GELCO CORP &lt;GEL> 2ND QTR JAN 31 NET Shr 67 cts vs 23 cts\n    Net 5,220,000 vs 3,143,000\n    Revs 236.1 mln vs 256.2 mln\n    Avg shrs 7.8 mln vs 13.7 mln\n    Six Mths\n    Shr 85 cts vs 59 cs\n    Net 8,919,000 vs 8,158,000\n    Revs 483.8 mln vs 515.5 mln\n    Avg shrs 10.4 mln vs 13.7 mln\n    NOTE: Fiscal 1987 second quarter and first half earnings\ninclude a gain of 3.4 mln dlrs and exclude preferred dividend\nrequirements of five mln dlrs in the quarter and 5.6 mln dlrs\nin the first half.\n    Fiscal 1986 net reduced by currency losses equal to six cts\na share in the second quarter and equal to nine cts in the six\nmonths.\n   \n Reuter\n&#3;',0
'INTERNCHANGE FINANCIAL SERVICES &lt;ISBJ> PAYOUT UP Qtly div 10 cts vs 8-1/3 cts prior\n    Pay April 21\n    Record March 20\n    NOTE: Interchange Financial Services Corp.\n Reuter\n&#3;',0
'KAPOK CORP &lt;KPK> IN TECHNICAL DEFAULT Kapok Corp said it is in\ntechical default of its loans from Southeast Banking Corp &lt;STB>\nand Murray Steinfeld but is negotiating with the lenders.\n    It said neither has declared the loans due.\n    The company said it has agreed to sell the Peter Pan\nRestaurant in Urbana, Md., for 1,100,000 dlrs, or one mln dlrs\nafter the payment of expenses.\n Reuter\n&#3;',0
'NEWPORT CORP &lt;NESP> 2ND QTR JAN 31 NET Shr 11 cts vs 13 cts\n    Net 1,037,690 vs 1,270,460\n    Sales 10.1 mln vs 9,215,836\n    Six Mths\n    Shr 25 cts vs 31 cts\n    Net 2,319,376 vs 2,930,507\n    Sales 21.2 mln vs 18.9 mln\n Reuter\n&#3;',0
'KAPOK CORP &lt;KPK> 1ST QTR DEC 31 LOSS Shr loss 14 cts vs loss 21 cts\n    Net loss 353,000 vs loss 541,000\n    Revs 2,668,000 vs 2,525,000\n    Avg shrs 2,452,3000 vs 2,552,300\n Reuter\n&#3;',0
'PREFERRED HEALTHCARE LTD &lt;PHCC> 4TH QTR NET Shr six cts vs four cts\n    Net 383,189 vs 241,857\n    Revs 1,506,756 vs 793,459\n    12 mths\n    Shr 24 cts vs 15 cts\n    Net 1,520,797 vs 929,017\n    Revs 5,268,486 vs 2,617,995\n Reuter\n&#3;',0
'TRANZONIC COS &lt;TNZ> SETS QUARTERLY Qtly div 11 cts vs 11 cts prior\n    Pay April 17\n    Record March 20\n Reuter\n&#3;',0
'CRONUS INDUSTRIES INC &lt;CRNS> 4TH QTR LOSS Oper Shr loss 40 cts vs loss 10 cts\n    Oper net loss 2,136,000 vs loss 467,000\n    Revs 21.9 mln vs 12.9 mln\n    12 mths\n    Oper shr loss 63 cts vs loss 30 cts\n    Oper net loss 3,499,000 vs loss 1,756,000\n    Revs 82.0 mln vs 54.5 mln\n    NOTE: Excludes income from discontinued operations of\n1,478,000 vs 952,000 for qtr, and 31.2 mln vs 6,500,000 for\nyear.\n    Excludes extraordinary charge of 2,503,000 for current qtr,\nand 4,744,000 for year.\n Reuter\n&#3;',0
'MERCURY ENTERTAINMENT CORP &lt;MCRY> YEAR NOV 30 Shr loss four cts vs loss one ct\n    Net loss 413,021 vs loss 163,932\n    Revs 600,971 vs 665,800\n Reuter\n&#3;',0
'BENGUET CORP &lt;BE> CALENDAR 1986 Net income 154.7 mln pesos vs 127.5 mln\n    Operating revenues 4.42 billion vs 3.3 billion\n    Operating profit 621.2 mln vs 203.4 mln\n    Earnings per share 4.80 vs 3.95\n    NOTE: Company statement said gold operations contributed 74\npct of consolidated earnings.\n Reuter\n&#3;',0
'UNOCAL &lt;UCL> UNIT CUTS CRUDE OIL POSTED PRICES Unocal Corp\'s Union Oil Co said it\nlowered its posted prices for crude oil one to 1.50 dlrs a\nbarrel in the eastern region of the U.S., effective Feb 26.\n    Union said a 1.50 dlrs cut brings its posted price for the\nU.S. benchmark grade, West Texas Intermediate, to 16 dlrs.\nLouisiana Sweet also was lowered 1.50 dlrs to 16.35 dlrs, the\ncompany said.\n    No changes were made in Union\'s posted prices for West\nCoast grades of crude oil, the company said.\n Reuter\n&#3;',0
'PANHANDLE\'S &lt;PEL> TRUNKLINE REDUCES GAS RATES Panhandle Eastern Corp\'s Trunkline Gas\nCo pipeline subsidiary said it is reducing the commodity\ncomponent of its wholesale natural gas rate four pct, effective\nimmediately.\n    In a filing with the Federal Energy Regulatory Commission,\nTrunkline said, it is reducing its commodity rate -- the\nportion of the total rate based on the price of gas -- to 2.58\ndlrs per mln Btu from 2.69 dlrs per mln Btu.\n    The company said the lower rate results from a reduction in\nthe average price the pipeline is paying for gas, adding this\nreflects contract reformation agreemats with producers.\n Reuter\n&#3;',0
'INVESTOR GROUP HAS TALKS WITH PESCH ON AMI &lt;AMI> WEDGE Group Inc, a Houston investment\nfirm with a 5.5 pct stake in American Medical International\nInc, said it has had talks with Pesch and Co, which is seeking\ncontrol of the company.\n    In a filing with the Securities and Exchange Commission,\nWEDGE, which is owned by Issam Fares, a Lebanese citizen living\nin Switzerland, also said it discussed the possibility of\njoining with others in its own bid to seek control of AMI.\n    WEDGE stressed that it has no current plans to seek control\nof AMI, but refused to rule out a takeover try in the future.\n    WEDGE said it has had discussions with AMI management,\nPesch, the closely held health care and investment concern\ncontrolled by Chicago physician LeRoy Pesch, and other AMI\nshareholders.\n    It did not specify in its SEC filing which issues --\nselling its AMI stake or joining with others in a takeover try\n-- were discussed with which group. But it said the talks did\nnot produce any agreements or understandings.\n    WEDGE said it believes that \"some form of restructuring of\nAMI and its business would be highly desirable and appropriate\nat this time.\"\n    WEDGE, which holds 4.8 mln shares of AMI common stock, said\nit plans to hold further talks with company management, Pesch\nand other shareholders.\n    Pesch last week sweetened his bid for the company to 22\ndlrs a share in cash and securties, or 1.91 billion dlrs based\non AMI\'s total outstanding, from an all-cash 20 dlr a share\nbid, which the company rejected.\n Reuter\n&#3;',0
'I.M.S. INTERNATIONAL INC &lt;IMSI> SETS QUARTERLY Qtly div four cts vs four cts prior\n    Pay March 27\n    Record March 13\n Reuter\n&#3;',0
'BANNER &lt;BNR> COMPLETES TENDER FOR REXNORD &lt;REX> Banner Industries Inc said 19.8 mln of\nthe outstanding 20 mln shares in Rexnord Inc were tendered\npursuant to its 26.25 dlr a share offer that closed at midnight\nEST Feb 27.\n    Together with the five mln Rexnard shares it already owns,\nthe company said it now holds a 97 pct stake in the company.\n    It said the completion of the deal is subject to approval\nby Rexnard holders and to other closing conditions. It expects\nthe deal to close in about 60 days.\n Reuter\n&#3;',0
'MUTUAL OF OMAHA INTEREST SHARES &lt;MUO> QTLY DIV Qtly div 36 cts vs 36 cts prior\n    Pay April one\n    Record March 13\n Reuter\n&#3;',0
'CORRECTED - BANKAMERICA NEGOTIATING UNITS SALE Bank of America NT and SA\'s &lt;BAC.N>\nWest German branch said it is negotiating the sale of Bankhaus\nCentrale Credit AG, a small local West German bank it acquired\nin 1965, and of its West German Visa credit card operation.\n    Michael Seibel, Bank of America vice-president and regional\nmanager, said the negotiations were proceeding well. He\ndeclined to give further details.\n    Bank of America\'s West German branch lost some 32 mln marks\nin 1985. The result includes profit and loss transfers from\nBankhaus Centrale Credit and the Visa organisation. The sale of\nthe units is part of the bank\'s worldwide restructuring plan.\n-- corrects year of loss in third paragraph in item which\noriginally ran February 27.\n Reuter\n&#3;',0
'OSR &lt;OSRC> TO MAKE ACQUISITION OSR Corp said it has agreed\nto acquire the properties and assets of Telcom International\nGroup for 10.5 mln common shares, which would give former\nTelcom owners an 84 pct interest in the combined company.\n    Telcom is an international film and television distributor.\n The assets being acquired consist mostly of distribution\nrights to films valued at over one mln dlrs, the company said.\n    OSR said as part of the acquisition agreement is is\nrequired to sell its 80 pct interest in Standard Knickerbocker\nLtd, which makes jeans in Canada.\n    OSR said it expects to net about 150,000 dlrs on the sale\nof Standard Knickerbocker.\n    The company said both transactions are subject to approval\nby shareholders at a meeting to be held in April or May, it\nsaid.\n Reuter\n&#3;',0
'MERCURY ENTERTAINMENT &lt;MCRY> SEES BETTER RESULTS Mercury Entertainment Corp said it\nexpects improved results in 1987.\n    The company today reported a loss for the year ended\nNovember 30 of 413,021 dlrs on revenues of 600,971 dlrs,\ncompared with a loss of 163,932 dlrs on revenues of 665,800\ndlrs a year before.\n Reuter\n&#3;',0
'CRONUS INDUSTRIES INC &lt;CRNS> SELLS UNIT Cronus Industries Inc said it agreed to\nsell its heat transfer equipment business, Southwestern\nEngineering Co, for a slight premium over book value, plus a\nrelease of Cronus from liability on approximately three mln\ndlrs of subsidiary indebtedness.\n    The company said the sale to a subsidiary of Senior\nEngineering Group PLC, a British company, will take place this\nmonth.\n Reuter\n&#3;',0
'UNISYS CORP &lt;UIS> SETS QUARTERLY Qtly div 65 cts vs 65 cts prior\n    Pay May Seven\n    Record April Seven\n Reuter\n&#3;',0
'JACOBSON &lt;JCBS> VOTES SPLIT, INCREASES PAYOUT Jacobson Stores Inc said its\nboard voted a three-for-two stock split, payble March 30,\nrecord March 13.\n    In other action, Jacobson\'s directors approved an increase\nin its quarterly dividend to 11 cts on a post split basis\npayable April 14, record March 30.\n    The new dividend rate represents a 32 pct increase over the\n12-1/2 cts paid quarterly on a pre-split basis.\n Reuter\n&#3;',0
'HARLEY-DAVIDSON INC &lt;HDI> 4TH QTR NET Oper shr 18 cts vs 51 cts\n    Oper net 1,048,000 vs 1,870,000\n    Revs 72.2 mln vs 73.5 mln\n    Avg shrs 5,910,000 vs 3,680,000\n    Year\n    Oper shr 82 cts vs 72 cts\n    Oper net 4,307,000 vs 2,637,000\n    Revs 295.3 mln vs 287.5 mln\n    Avg shrs 5,235,000 vs 3,680,000\n    NOTE: Results exclude one-time gains of 223,000 or four cts\nand 564,000 or 11 cts for 1986 qtr and year vs gains of\n6,359,000 or 1.73 dlrs and 7,318,000 or 1.99 dlrs for prior\nperiods.\n   \n Reuter\n&#3;',0
'&lt;HOECHST AG> COMPLETES CELANESE &lt;CZ> ACQUISITION Hoechst AG of West Germany said\nit has completed the acquisition of Celanese Corp.\n    Hoechst acquired a majority of Celanese shares in a recent\ntender offer at 245 dlrs per common share.\n Reuter\n&#3;',0
'AMERICUS TRUST &lt;HPU> EXTENDS DEADLINE Americus Trust for American Home\nProducts Shares said it extended its deadline for accepting\ntendered shares until November 26, an extension of nine months.\n    The trust, which will accept up to 7.5 mln shares of\nAmerican Home Products &lt;AHP>, said it has already received\ntenders for about four mln shares.\n    The trust is managed by Alex. Brown and Sons Inc &lt;ABSB> and\nwas formed November 26, 1986.\n Reuter\n&#3;',0
'MORSE SHOE INC &lt;MRS> 4TH QTR NET Shr 59 cts vs 48 cts\n    Net 3,244,000 vs 2,584,000\n    Revs 169.3 mln vs 156.0 mln\n    12 mths\n    Shr 1.78 dlrs vs 1.32 dlrs\n    Net 9,733,000 vs 7,164,000\n    Revs 585.6 mln vs 541.0\n Reuter\n&#3;',0
'ICO QUOTA TALKS CONTINUE, OUTCOME HARD TO GAUGE Talks at the extended special meeting of\nthe International Coffee Organization (ICO) on the\nreintroduction of export quotas continued, but chances of\nsuccess were still almost impossible to gauge, delegates said.\n    Producer delegates were meeting to examine a Colombian\nproposal to resume historical quotas from April 1 to September,\nwith a promise to define specific new criteria by which a new\nquota system would be calculated in September for the new crop\nyear, they said.\n    Opinions among delegates over the potential for reaching a\nquota agreement varied widely.\n    Some consumers said the mood of the meeting seemed slightly\nmore optimistic. But Brazil\'s unwillingness to concede any of\nits traditional 30.55 pct of its export market share looks\nlikely to preclude any accord, other delegates said.\n    No fresh proposals other than the Colombian initiative had\nbeen tabled formally today, delegates said.\n    A full council meeting was set for 1900 hours for a\nprogress report, delegates said.\n Reuter\n&#3;',0
'VERSATILE TO BUILD POLAR ICE BREAKER Versatile Corp\'s shipbuilding subsidiary\nhas a letter of intent to build a 320 mln dlr polar icebreaker\nfor the Canadian coast guard, Transport Minister John Crosbie\nsaid.\n    In a Vancouver address, Crosbie said Versatile Pacific\nShipyards Inc was the low bidder to build the Arctic Class 8\nicebreaker, but the company must meet certain financial and\nengineering conditions before the contract is awarded.\n    The government also announced it will provide up to 13 mln\ndlrs in loan insurance to help Versatile prepare for the\nconstruction of the vessel.\nsaid before the contract can be awarded Versatile \"will be\nrequired to offer assurances that the shipyard is technically\nand financially capable of performing the work.\"\n    Crosibie said Versatile\'s bid was 100 mln dlrs lower than\ncompeting bidders and will generate 1,000 person years of\ndirect employment.\n    Work on the vessel, which Crosbie said would be the most\npowerful icebreaker in the world, would begin next year and\ncompleted in 1992.\n    The government announced plans to build the icebreaker last\nyear following the controversial passage of the U.S. Coast\nGuard\'s vessel, the Polar Sea, through the disputed Northwest\nPassage. The U.S. government did not seek permission for the\njourney, claiming the area was an international water way.\n    The government said the icebreaker was needed to back up\nthe country\'s claim of sovereignty in the Arctic.\n Reuter\n&#3;',0
'&lt;PANTRY INC> INB TALKS ON BEING ACQUIRED Privately-held Pantry Inc, which\noperates 477 convenience stores in five Southeastern states,\nsaid it has engaged Alex. Brown and Sons Inc &lt;ABSB> to explore\na possbile sale of the company.\n    It said it expects to start talks with prospective\nacquirers shortly. The company said it has been approached by a\nnumber of parties in recent months.\n Reuter\n&#3;',0
'CONGRESS VIDEO GROUP INC &lt;CVGI> 3RD QTR NET Qtr ends Dec 31\n    Shr profit three cts vs loss three cts\n    Net profit 129,000 vs loss 85,000\n    Revs 4,001,000 vs 4,347,000\n    Avg shrs 3,994,347 vs 3,769,347\n    Nine mths\n    Shr loss 75 cts vs profit 39 cts\n    Net loss 2,900,000 vs profit 1,753,000\n    Revs 7,472,000 vs 15.3 mln\n    Avg shrs 3,845,438 vs 4,470,275\n    NOTE: net 1986 includes tax gain carryforward from\ndiscontinued operations of Master\'s Merchandise Group in year\nprior.\n Reuter\n&#3;',0
'&lt;RENOUF CORP> TO PROCEED WITH BENEQUITY &lt;BH> BID Renouf Corp of New Zealand said it\nhas decided to proceed with its offer for all outstanding units\nof Benequity Holdings at 31 dlrs per unit.\n    The company had been required to redice by March Two\nwhether to proceed with the offer or terminate it, based on its\nability to obtain financing and on its review of Benequity\noperations.  The offer is to expire March 13.\n Reuter\n&#3;',0
'CUBA TELLS TRADERS SUGAR EXPORTS MAY BE DELAYED Cuba has told international sugar\noperators who have bought its sugar for shipment in March that\nthese contracts will take second place to Cuba\'s direct\nshipments to its export markets, dealers here said.\n    Some traders who have received telexes from Cuba said the\nlanguage of the message was not totally clear and some believed\nshipments would be honoured if the traders declare the Soviet\nUnion as the destination of their contracts.\n    The telexes have fueled rising world prices in the last\nweek and reflect a poor Cuban crop, worry over Brazil\'s export\navailability, and increasing Soviet demand, analysts said.\n    Traders said signs of Cuba\'s shortage of immediately\navailable raw sugar to supply its traditional martkets was\nprobably the factor behind Syria calling a snap buying tender\nlast month.\n    Normally Syria calls white sugar buying tenders for forward\ndelivery, and last month\'s spot requirement resulted in the\nsale of several cargoes.\n    Cuba in its telex told operators they would not receive\nMarch shipments as Cuba has to meet its contracts to export\nmarkets, traders said.\n Reuter\n&#3;',0
'GOODRICH &lt;GR> TO PHASE OUT SOME BUSINESSES B.F. Goodrich Co said it will phase\nout the production of aircraft tires, missile and marine\nproducts and molded rubber products in Akron, Ohio, by the end\nof 1987, laying off about 790 salaried, production, maintenance\nand support services employees.\n    The company said layoffs will start within the next few\nweeks.\n    Goodrich said it will continue to make chemicals and\nadhesives in Akron, employing about 356.  Another 5000 salaried\nemployees in Akron work for Goodrich.\n    The company said it has not been able to operate the\nbusinesses being discontinued in Akron profitably enough to\njustify the large investment that it has in them.\n    Goodrich said it will continue to make aircraft tires at\nNorwood, N.C., and sonar domes at Jacksonville, Fla., and will\nrelocate its molded rubber products business to a site not yet\nchosen.  It said it will stop making insulators for missiles.\n    Goodrich said it is prepared to discuss with officials of\nthe United Rubber Workers Union severance benefits for affected\nemployees and issues related to the continued operation in\nAkron of the chemical and adhesives businesses and to the\nphaseout of the Akron aircraft tire, missile and marine and\nmolded rubber products manufacturing.\n    A company spokesman said it does not expect any adverse\nimpact on earnings from the move.\n Reuter\n&#3;',0
'THUNANDER CORP &lt;THDR> YEAR NET Shr 73 cts vs 58 cts\n    Net 1,101,000 vs 901,000\n    Sales 32.9 mln vs 29.1 mln\n    Note: Results include operations of BMD of New England Inc,\nacquired Sept. 1, 1986.\n Reuter\n&#3;',0
'FINAL TRUST FOR THRIFT INSTITUTIONS PAYOUT SET &lt;Massachusetts Financial Services Co>\nsaid it has set the final income and capital gain distributions\nfor &lt;Trust for Thrift Institutions High Yield Series> of 1.069\ndlrs and 7.645 dlrs, respectively, payable today.\n Reuter\n&#3;',0
'(RPT) U.S. SAYS TIN DISPOSALS WILL NOT AFFECT ACCORD U.S. tin disposals should have little\neffect on an agreement reached last weekend by tin producing\ncountries to limit group exports to 96,000 tonnes in the year\nstarted March 1, a government official said.\n    The agreement by the seven-member Association of Tin\nProducing Countries (ATPC) aimed to cut the world surplus and\nboost prices. Following the accord, ATPC Chairman Subroto\nappealed to the United States to restrict its tin releases from\nits strategic stockpile.\n    \"We don\'t think that (the U.S. government) has a large\ninfluence in the (tin) market at this stage of the game,\" said\nThomas O\'Donnell, Director of International Commodities at the\nState Department. Last year the United States released about\n4,900 tonnes of tin to two ferroalloy firms.\n Reuter\n&#3;',0
'ROSPATCH TO RESPOND TO DIAGNOSTIC BID\n ',0
'FRANKLIN INSURED TAX-FREE SETS PAYOUT Mthly div 7.1 cts vs 7.1 cts prior\n    Pay March 31\n    Record March 16\n    NOTE: Franklin Insured Tax-Free Income Fund.\n Reuter\n&#3;',0
'FRANKLIN MINNESOTA INSURED SETS PAYOUT Mthly div 6.6 cts vs 6.6 cts prior\n    Pay March 31\n    Record March 16\n    NOTE: Franklin Minneosta Insured Tax-Free Income Fund.\n Reuter\n&#3;',0
'FRANKLIN MICHIGAN INSURED SETS PAYOUT Mthly div 6.9 cts vs 6.9 cts prior\n    Pay March 31\n    Record March 16\n    NOTE: Franklin Michigan Insured Tax-Free Income Fund.\n Reuter\n&#3;',0
'FRANKLIN MASSACHUSETTS INSURED CUTS PAYOUT Mthly div 6.5 cts vs 6.8 cts prior\n    Pay March 31\n    Record March 16\n    NOTE: Franklin Massachusetts Insured Tax-Free Income Fund.\n Reuter\n&#3;',0
'U.S. EXPORT INSPECTIONS, IN THOUS BUSHELS  SOYBEANS 20,349 WHEAT 14,070 CORN 21,989\n ',1
'FRANKLIN CALIFORNIA TAX-FREE SETS PAYOUT Mthly div 6.5 cts vs 6.5 cts prior\n    Pay March 31\n    Record March 16\n    NOTE: Franklin California Insured Tax-Free Income Fund.\n Reuter\n&#3;',0
'DIAGNOSTIC PRODUCTS &lt;DPCZ> SEES EARNINGS GROWTH Diagnostic Products Corp president and\nchief executive officer Sigi Ziering said he expects to\nmaintain the same compound average annal net income growth in\n1987 as the company has for the past five years.\n    \"We expect the same performance in net income over the next\nfive years as we have had in the past,\" Ziering said.\n    Over the past five years Ziering said the company has had\naverage compound net income growth of 32 pct annually with a 27\npct per year growth in earnings per share. For 1986 the company\nhad net income of 6.3 mln dlrs, or 1.07 dlrs per share, vs 3.9\nmln dlrs, or 73 cts per share in 1985.\n    Diagnostic manufactures medical immunological diagnostic\ntest kits.\n    Ziering said he expects the earnings growth to result from\npositive effect of the weaker dollar on the company\'s exports\nsales as well as accelerated market penetration. Ziering said\nhe expected the Food and Drug Administration to approve three\nmore of its drug abuse test kits by the end of the year, which,\ndepending on approval, should also help earnings growth.\n    Ziering said as a result of the new tax laws he expected\nthe company\'s taxes to decrease by five pct to 31 pct of net\nincome in 1987.\n   \n Reuter\n&#3;',0
'CURRENCIES COULD INFLUENCE BULLION AGAIN-MONTAGU Currency fluctuations may reassert their\ninfluence on the bullion market in the near future, bullion\nbankers Samuel Montagu and Co Ltd said in a market report.\n    But the firm said silver may lag behind gold in any\nreactions to movements on foreign exchanges.\n    \"OPEC\'s failure to address the recent decline in oil prices\nremains a worrying factor however, and on balance it appears\nthat the market should be approached cautiously,\" Montagu said.\n    The bank said the US economy has shown no noticeable\nlong-term improvement and that both Latin American debt and the\nIranian arms affair could undermine confidence in the dollar.\n Reuter\n&#3;',0
'DUNKIN\' DONUTS INC &lt;DUNK> 1ST QTR JAN 24 NET Shr 46 cts vs 42 cts\n    Net 3,418,000 vs 3,129,000\n    Revs 24.7 mln vs 26.2 mln\n Reuter\n&#3;',0
'CCR VIDEO CORP &lt;CCCR> 1ST QTR NOV 30 NET Shr profit two cts vs loss 12 cts\n    Net profit 156,726 vs loss 776,000\n    Revs 1,157,883 vs 890,138\n Reuter\n&#3;',0
'FRANKLIN PUERTO RICO TAX-FREE SETS PAYOUT Mthly div 7.1 cts vs 7.1 cts prior\n    Pay March 31\n    Record March 16\n    NOTE: Franklin Puerto Rico Tax-Free Income Fund.\n Reuter\n&#3;',0
'FRANKLIN OHIO INSURED TAX-FREE SETS PAYOUT Mthly div 6.1 cts vs 6.1 cts prior\n    Pay March 31\n    Record March 16\n    NOTE: Franklin Ohio Insured Tax-Free Income Fund.\n Reuter\n&#3;',0
'FRANKLIN HIGH-YIELD TAX-FREE SETS PAYOUT Mthly div 7.1 cts vs 7.1 cts prior\n    Pay March 31\n    Record March 16\n    NOTE: Franklin High-Yield Insured Tax-Free Income Fund.\n Reuter\n&#3;',0
'CONVERGENT TECHNOLOGIES &lt;CVGT> TO BUY OAKLEAF Convergent Technologies Inc\nsaid it has reached an agreement in principle to buy Oakleaf\nCorp, which supplies finance, insurance and leasing computers\nto auto dealers.\n    The transaction will involve an exchange of Oakleaf stock\nfor cash and debt and is subject to a definitive agreement, the\ncompanys said. No other terms were disclosed.\n    Oakleaf had 1986 sales of about 26 mln dlrs.\n Reuter\n&#3;',0
'NYMEX WILL EXPAND OFF-HOUR TRADING APRIL ONE The New York Mercantile Exchange set\nApril one for the debut of a new procedure in the energy\ncomplex that will increase the use of energy futures worldwide.\n     On April one, NYMEX will allow oil traders that do not\nhold a futures position to initiate, after the exchange closes,\na transaction that can subsequently be hedged in the futures\nmarket, according to an exchange spokeswoman.\n    \"This will change the way oil is transacted in the real\nworld,\" said said Thomas McKiernan, McKiernan and Co chairman.\n    Foreign traders will be able to hedge trades against NYMEX\nprices before the exchange opens and negotiate prices at a\ndifferential to NYMEX prices, McKiernan explained.\n     The expanded program \"will serve the industry because the\noil market does not close when NYMEX does,\" said Frank Capozza,\nsecretary of Century Resources Inc.\n     The rule change, which has already taken effect for\nplatinum futures on NYMEX, is expected to increase the open\ninterest and liquidity in U.S. energy futures, according to\ntraders and analysts.\n    Currently, at least one trader in this transaction, called\nan exchange for physical or EFP, must hold a futures position\nbefore entering into the transaction.\n    Under the new arrangement, neither party has to hold a\nfutures position before entering into an EFP and one or both\nparties can offset their cash transaction with a futures\ncontract the next day, according to exchange officials.\n    When NYMEX announced its proposed rule change in December,\nNYMEX President Rosemary McFadden, said, \"Expansion of the EFP\nprovision will add to globalization of the energy markets by\nproviding for, in effect, 24-hour trading.\"\n    The Commodity Futures Trading Commission approved the rule\nchange in February, according to a CFTC spokeswoman.\n Reuter\n&#3;',0
'ROSPATCH &lt;RPCH> TO RESPOND TO DIAGNOSTIC &lt;DRS> Rospatch Corp said it will\nhave a news release later in response to today\'s acquisition\nbid by Diagnostic Retrieval Systems Inc for 22 dlrs a share.\n    Rospatch earlier requested its stock be halted in over the\ncounter trading, last trade 24-1/8.\n    Diagnostic said its bid was for a total 53 mln dlrs through\na cash tender offer for all, but not less than 51 pct of\nRosptach outstanding common.\n    For its fourth-quarter ended December 31, 1986, Rospatch\nreported net loss 2,649,000 or 1.10 dlrs a share compared a\nloss of 627,500 or 35 cts profit for the 1985 period.\n    In December the Brookehill Group in New York said it had\n9.7 pct stake. J.A. Parini, Rospatch chief executive, responded\non January eight by saying the investment was a vote in\nconfidence in the company.\n Reuter\n&#3;',0
'GREEN TREE ACCEPTANCE INC &lt;GNT> SETS DIVIDEND Qtly dividend 12-1/2 cts vs 12-1/2 cts\n    Pay March 31\n    Record March 16\n Reuter\n&#3;',0
'ARGENTINE OIL PRODUCTION DOWN IN JANUARY 1987 Argentine crude oil production was\ndown 10.8 pct in January 1987 to 12.32 mln barrels, from 13.81\nmln barrels in January 1986, Yacimientos Petroliferos Fiscales\nsaid.\n    January 1987 natural gas output totalled 1.15 billion cubic\nmetrers, 3.6 pct higher than 1.11 billion cubic metres produced\nin January 1986, Yacimientos Petroliferos Fiscales added.\n Reuter\n&#3;',0
'ROSPATCH CORP REJECTS OFFER FROM DIAGNOSTIC RETRIEVAL SYSTEMS INC\n ',0
'NORTH AMERICAN GROUP &lt;NAMG> BUYS GEORGIA FIRM North American Group Ltd\'s North\nAmerican Acquisition Corp said it has a definitive agreement to\nbuy 100 pct of Pioneer Business Group Inc of Atlanta.\n    Terms of the acquisition were not disclosed. Closing of the\nacquisition is scheduled for April.\n    North American Acquisition said the agreement is subject to\ndue diligence and a satisfactory review of Pioneer\'s operation.\nPioneer makes business forms.\n Reuter\n&#3;',0
'TALKING POINT/VIACOM INTERNATIONAL &lt;VIA> A bidding war for Viacom International\nInc, one of the largest U.S. entertainment companies, pitted a\nmanagement group and other investors against National\nAmusements Inc, a closely held theater operator.\n    Both sides raised their bids over the weekend. A source\nclose to the management side insisted that timing was on his\nside. He said if outside directors approve the management\nproposal, a merger plan could be put to a vote of shareholders\nwith proxy material going out late this week. \"It would take 20\ndays from the day we mail,\" said the source.\n    The source predicted National Amusements, controlled by\ninvestor Sumner Redstone, would need \"half a year\" to complete\na tender offer because of the regulatory approvals that must\naccompany any change in control of Viacom\'s broadcast licenses\nand cable television franchises.\n    Redstone was not available for comment.\n    Some of Wall Street\'s arbitrage players said it was a rare\nsituation that could only be enjoyed - a true bidding war. One\nsaid Redstone could begin a tender offer whenever he wanted and\nif enough people were convinced his proposal was superior to\nthe Viacom management plan, he would have a chance to win.\n    The independent directors of Viacom were called into a\nmeeting today. Word on a decision was expected early tomorrow.\n    Viacom shares climbed 2-1/2 to 50-3/8 by midafternoon. One\nmajor Wall Street firm issued a sell recommendation. \"We think\nwe\'re at the end now, in terms of bidding,\" said the firm\'s\narbitrageur, who spoke on condition he not be identified.\n    Both Redstone\'s proposal and the management proposal would\ncreate a restructured company heavily leveraged with debt. The\nmanagement plan would result in a balance sheet with about 2.5\nbillion dlrs in debt and nearly 500 mln dlrs in preferred\nstock, convertible into 45 pct of the common stock.\n    Redstone\'s newest proposal offers holders 42 dlrs in cash,\na fraction of a share of exchangeable preferred stock with a\nvalue of 7.50 dlrs, and one-fifth of a share of common stock\nstock of Arsenal Holdings, representing 20 pct of the equity\ninterest in the restructured Viacom. One arbitrageur calculated\nthe equity in the Redstone plan was worth 2.50 dlrs making the\ntotal package worth 52 dlrs per share.\n    Management offered 38.50 dlrs in cash, exchangeable\npreferred stock worth 8.50 dlrs and a fractional share of\nconvertible preferred. The arbitrageur said the equity portion\nwas worth about 4.00 dlrs for a total of 51 dlrs.\n    Redstone\'s newest plan raised the amount of interest he\nwould pay on the cash portion of his offer for every day beyond\nApril 30 that a merger with Arsenal is not consummated. The\nplan calls for intest to be paid at an annual rate of nine pct\nduring May and 12 pct thereafter. Previously Redstone offered\neight pct interest.\n    Other arbitrageurs said both Redstone and the management\ngroup, led by president and chief executive Terrence Elkes,\nwere offering high prices. \"Redstone really wants to own the\ncompany,\" one said. Another said management seemed to have the\nedge on the timing issue.\n    Redstone\'s company owns 19.6 pct ov Viacom\'s 35 mln shares.\n    A Wall Street analyst said it was hard to determine what\nthe equity in the newly leveraged company would be worth. He\nnoted as an example that new stock in FMC Corp &lt;FMC>, which\nadopted a highly leveraged structure last year, inititally\ntraded at 12.50 dlrs per share, dipped to nine dlrs, and is now\njust over 30 dlrs.\n    Last week, Viacom reported fourth quarter earnings fell two\ntwo cts per share from 23 cts. The company said interest costs\nfrom several acquisitions affected results.\n    Shares of Warner Communications Inc &lt;WCI> rose 7/8 to\n31-1/8. Analysts noted Warner owns warrants to purchase 3.25\nmln Viacom shares at 35 dlrs and another 1.25 mln shares at\n37.50 dlrs.\n    Chris Craft Industries &lt;CCN>, which owns a stake in Warner,\nrose 1-1/4 to 22-3/4.\n    Viacom was created in 1970 and spun off from CBS Inc &lt;CBS>.\nThe company has 940,000 cable television subscribers, operates\nnine satellite television services and owns television and\nradio stations. It is one of the largest distributors of films\nand other programs for television.\n Reuter\n&#3;',0
'UP-RIGHT INC &lt;UPRI> 4TH QTR OPER NET Oper shr five cts vs 29 cts\n    Oper net 151,000 vs 867,000\n    Revs 12.7 mln vs 14.1 mln\n    Year\n    Oper shr 87 cts vs 52 cts\n    Oper net 2,650,000 vs 1,565,000\n    Revs 54.7 mln vs 49.1 mln\n    Note: oper data does not include 4th qtr 1986 extraordinary\ncredit of 14,000 dlrs or 4th qtr 1985 extraordinary loss of\n139,000 dlrs, or five cts per shr. For year, does not include\nextraordinary credit of 92,000 dlrs, or three cts per shr, in\n1986 and 161,000 dlrs, or five cts per shr, in 1985.\n Reuter\n&#3;',0
'TALKS SHOW NEW CANADIAN CONFIDENCE, GROUP SAYS Canada\'s decision to raise the issue\nof a free trade pact with the U.S. was a sign of what many see\nas a new spirit of Canadian self-confidence, a public policy\nstudy group said \n    \"It suggests the Canada of the immediate post-war period,\nwhen it was a major player in the process of building a postwar\nworld,\" the Washington-based Atlantic Council said.\n    U.S. and Canadian negotiators opened talks last summer\naimed at dismantling trade barriers between the two countries,\nthe world\'s biggest trading partners with crossborder shipments\nof about 150 billion dlrs annually.\n    The council\'s study said the trade talks, with a deadline\nof October for an agreement, are the biggest issue in\nU.S.-Canadian relations.\n   The study said liberalized trade between the two countries\nwould improve the competitiveness of their economies in world\nmarkets and lessen trade irritants which now mar their ties.\n    The council said \"in the past most Canadians have shied away\nfrom the notion of a free-trade arrangement, fearing to be\noverwhelmed economically and politically by a closer\nassociation with a country 10 times their size in population.\"\n    But at the same time, it added, Canadians realized their\ndomestic market was too small to permit the mass production and\nsales needed to raise productivity to the level demanded by an\nincreasingly competitive world.\n    The council said that in the talks, Canada is chiefly\ninterested in minimizing the imposing of U.S. duties against \nallegedly subsidized exports.\n    A recent example was the 15 per cent duty the U.S. imposed\non Canadian lumber exports on grounds the shipments were being\nsubsidized.\n    The council said the chief U.S. concerns included ending\ncurbs against U.S. banking, insurance, telecommunications, and\nthe so-called \"cultural industries\" - publishing, broadcasting\nand films.\n    It said other major U.S.-Canadian issues were defense\ncooperation, \"acid rain\" and the U.S. rejection of a Canadian\nassertion of sovereignty over waters of the Northwest Passage.\n Reuter\n&#3;',0
'ALBERTSON\'S INC &lt;ABS> RAISES QTLY DIVIDEND Shr 24 cts vs 21 cts\n    Pay May 25\n    Record May eight\n Reuter\n&#3;',0
'WAVEHILL INTERNATIONAL TO MAKE ACQUISITION &lt;Wavehill International Ventures Inc>\nsaid it has agreed to acquire Personal Computer Rental Corp of\nCoral Gables, Fla., in a transaction in which shareholders of\nPersonal Computer will receive shares respresenting about a 25\npct interest in the combined company.\n    The company said it will have about two mln shares\noutstanding on a fully-diluted basis after the transaction. It\nsaid after the acquisition it will infuse Perconal computer\nwith cash for expansion.  It said Personal Computer now has 26\nfranchised locations and plans to add over 30 in 1987, seeking\neventually to expand into 420 markets in the U.S. and abroad.\n Reuter\n&#3;',0
'SECURITY PACIFIC &lt;SPC> COMPLETES MERGER Security Pacific Corp said it\ncompleted its planned merger with Diablo Bank following the\napproval of the comptroller of the currency.\n    Security Pacific announced its intention to merge with\nDiablo Bank, headquartered in Danville, Calif., in September\n1986 as part of its plan to expand its retail network in\nNorthern California.\n    Diablo has a bank offices in Danville, San Ramon and Alamo,\nCalif., Security Pacific also said.\n Reuter\n&#3;',0
'U.S. INTEC INC &lt;INTK> 4TH QTR NET Shr six cts vs five cts\n    Net 188,000 vs 130,000\n    Revs 12.2 mln vs 10.1 mln\n    Avg shrs 3,029,930 vs 2,764,544\n    12 mths\n    Shr 81 cts vs 1.45 dlrs\n    Net 2,463,000 vs 3,718,000\n    Revs 52.4 mln vs 47.5 mln\n    Avg shrs 3,029,930 vs 2,566,680\n    NOTE: net for 1985 includes 500,000, or 20 cts per share,\nfor proceeds of a life insurance policy.\n    includes tax benefit for prior qtr of approximately 150,000\nof which 140,000 relates to a lower effective tax rate based on\noperating results for the year as a whole.\n Reuter\n&#3;',0
'ICI &lt;ICI> SEEKS GAINS IN SPECIALTY BUSINESSES Imperial Chemical Industries PLC, the\nlargest chemical company in the United Kingdom, will expand its\nspecialty chemicals and drug businesses this year, and better\nits 1986 results, said chairman-elect Denys Henderson.\n    \"We expect to shift our company toward higher value-added\nbusinesses and continue to broaden our base,\" Henderson told\nreporters at an informal meeting here.\n    ICI today announced the formation of a new U.S.\ndrug company, ICI Pharma, which, with its Stuart\nPharmaceuticals unit, it said will double its current\npharmaceutical sales to 1.1 billion dlrs by 1990.\n    Henderson said, \"Our pharmaceutical business gets lost in\nthe way that Glaxo\'s (Glaxo Holdings PLC) does not.\"\n    ICI\'s pharmaceutical division is the second largest drug\nmaker behind Glaxo in the U.K. Last year U.S. drug sales were\nabout 40 pct of its worldwide drug sales of 1.5 billion dlrs,\nwhich in turn brought in 27 pct of its total profits.\n    He estimated that by 1990, ICI\'s pharmaceutical division\nwould account for about 30 pct of total company profits.\n    \"The drug division far and away brings in the highest rate\nof return,\" said A.W. Clements, finance director of ICI, who\nwas also at the meeting.\n    Henderson said the new U.S. drug concern would basically\nact as a second sales force to double the exposure of its drugs\nto doctors. ICI will hire 145 new salespeople by October one.\n    Henderson said the major new products in the company\'s\npipeline, expected to each bring in sales of over 200 mln dlrs\nannually, were Statil, a treatment for diabetic complications,\nZoladex, a treatment for advanced prostate cancer, and Carwin,\na treatment for mild to moderate congestive heart failure.\n    Henderson said U.S. Food and Drug Administration approval\nto market Statil and Zoladex, both under joint licensing\nagreements with Merck and Co Inc &lt;MRK>, is not expected until\nabout 1989. ICI expects to file for permission to market Carwin\nin the U.S. later this year.\n    Henderson said the company\'s 1987 results would top 1986\nincome of 888 mln dlrs or 5.45 dlrs per ADR on sales of 15\nbillion dlrs, but he declined to specify by how much.\n    Henderson said 1987\'s results would be boosted by Glidden\nPaints, which ICI bought last November for 580 mln dlrs from a\nunit of Hanson Industries Inc.\n    Henderson also said that ICI has about nine billion dlrs\navailable for acquisitions. Last year the company made 40\nacquisitions, the largest being Glidden. He said that more\nacquisitions may be made this year but he ruled out an\nacquisition of a pharmaceutical concern as \"too expensive.\"\n    Henderson said that in his new role of chairman, effective\nApril one when he takes over from Sir John Harvey-Jones who\nwill retire, the biggest challenge ahead lay in continuing the\nearnings momentum ICI has established over the past few years\nafter restructuring and selling off unprofitable businesses.\n   \n Reuter\n&#3;',0
'INT\'L HYDRON CORP &lt;HYD> 4TH QTR OPER NET Oper shr profit six cts vs loss 20 cts\n    Oper net profit 734,000 vs loss 2,312,000\n    Revs 16.8 mln vs 13.9 mln\n    Year\n    Oper shr profit 30 cts vs profit three cts\n    Oper net profit 3,342,0000 vs profit 318,000\n    Revs 67.5 mln vs 52.6 mln\n    NOTE: Excludes loss of 41,000 dlrs or nil vs gain 7,000\ndlrs or nil in qtr and gain 247,000 dlrs or two cts vs gain\n88,000 dlrs or one ct in year from net operating loss\ncarryforwards.\n Reuter\n&#3;',0
'ALBERTSON\'S &lt;ABS> ADOPTS STOCKHOLDER RIGHTS PLAN Albertson\'s Inc said its board has\nadopted a stockholder rights plan intended to protect them in\nthe event of any proposed takeover of the company.\n    Under the plan, stockholders will receive a dividend\ndistribution of one right for each share of common stock held\non March 23.\n    The rights are exercisable ten days after a person or group\nacquires 20 pct or more of Alberston\'s common stock or\nannounces a tender offer for 30 pct or more of the stock.\n    Each right will entitle the shareholder to buy one newly\nissued share of Alberston\'s common stock for 150.00 dlrs.\n Reuter\n&#3;',0
'ROSPATCH &lt;RPCH> REJECTS DIAGNOSTIC &lt;DRS> BID Rospatch Corp said it\nrejected a proposal by Diagnostic Retrieval Systems Inc to\nacquire its stock at 22 dlrs a share.\n    Rospatch\'s board believes that the long term interests of\nits shareholders will be best served by continuing as an\nindependent public company at this time, the company said in\nresponse to an unsolicited offer from Diagnostic Retrieval.\n    Rospatch said Diagnostic\'s offer of February 27 is a\nvariation of a previous offer in January, the nature of which\nwas not disclosed.\n    Rospatch said it advised Diagnostic Retrieval that \"it\nwould be contrary to the best interests of the corporation\nto engage in any discussions concerning a business combination\nwith Diagnostic Retrieval.\"\n Reuter\n&#3;',0
'SYNTECH INTERENATIONAL INC &lt;SYNE> 4TH QTR NET Shr profit six cts vs loss 4.51 dlrs\n    Net profit 815,167 vs loss 12,955,562\n    Revs 7,981,022 vs 2,954,488\n    Year\n    Shr profit 16 cts vs loss 7.22 dlrs\n    Net profit 2,446,100 vs loss 19,175,931\n    Revs 23.6 mln vs 14.6 mln\n Reuter\n&#3;',0
'INT\'L MINERALS &lt;IGL> BUYS ANIMAL PRODUCTS UNIT International Minerals and\nChemical Corp said it completed its acquisition of Johnson and\nJohnson Co\'s Pitman-Moore unit, a producer of animal health\nproducts.\n    Terms of the acquisition were not disclosed. International\nMinerals and Chemical said annual sales of the unit are about\n45 mln dlrs.\n    Pitman-Moore makes health products for pets and for farm\nand feedstock animals.\n Reuter\n&#3;',0
'JWT &lt;JWT> NOT APPROACHED BY GROUP SEEKING SHARES JWT Group Inc has not been approached\nby former Ted Bates Worldwide Chairman Robert Jacoby about the\npossibility of a syndicate buying a 35 pct stake in JWT Group\non a friendly basis, a company spokesman said.\n    He said JWT would have no comment on an Advertising Age\nreport that Jacoby is considering heading up a venture capital\nsyndicate to purchase a 35 pct stake in JWT group.\n    Jacoby was not immediately available for comment on the\nreport. Ted Bates is now owned by &lt;Saatchi and Saatchi>, the\nworld\'s largest advertising agency.\n Reuter\n&#3;',0
'COEUR D\'ALENE MINES CORP &lt;COUR> 4TH QTR LOSS Shr loss 18 cts vs loss one ct\n    Net loss 1,343,000 vs loss 49,000\n    Revs 6,778,000 vs 1,976,000\n    Year\n    Shr loss 67 cts vs loss ten cts\n    Net loss 4,693,000 vs loss 672,000\n    Revs 14.0 mln vs 7,034,000\n    Note: 1986 loss included one-time loss of 3,624,000 dlrs on\nwrite-off of certain silver, oil and gas interests.\n Reuter\n&#3;',0
'FOOTE MINERAL &lt;FTE> SELLS CAMBRIDGE PLANT Foote Mineral Co said it signed a\nletter of intent with Shieldalloy Corp, a wholly-owned\nsubsidiary of &lt;Metallurg Inc>, for the sale of its Cambridge,\nOhio, business.\n    The company said the sale, which will be explained in\ngreater detail after the definitive agreement has been signed,\nis part of Foote\'s previously-announced plan to sell the entire\ncompany.\n\n Reuter\n&#3;',0
'U.S. WHEAT GROUPS CALL FOR GLOBAL ACTION All major grain producing countries\nmust do their part to help reduce global surpluses and the\nrecent Australian farm policy proposals are flawed, two U.S.\nwheat organizations said.\n    The recent Australian proposals were a good starting point\nfor discussions, \"but we do not want the Australians to feel\nthey are alone in developing an agenda for discussions\" on world\ngrain trade, the president of the National Association of Wheat\nGrowers, NAWG, and the chairman of U.S. Wheat Associates said\nin a letter to U.S. Agriculture Secretary Richard Lyng and U.S.\nTrade Representative Clayton Yeutter.\n    Future discussions on international wheat trade should\ninclude three topics -- a commitment to privatization of\ngovernment-run export trading entities, a commitment to public\ndisclosure of sales and other terms if government entities are\ninvolved, and a recognition that supply reductions by the U.S.\nhave kept world prices higher than they otherwise would be, the\ntwo organizations said \n    While the Australian proposals are welcome the two\norganizations said they are not in total agreement with their\nassessments.\n    Australia\'s proposals, which aim to reduce U.S. target\nprices and \"quarantine\" U.S. wheat stocks, would continue to\nplace the burden of supply adjustment and reform on U.S.\nfarmers, they said.\n      Other countries, including Australia, have benefitted\nfrom the higher world prices that have resulted from past U.S.\nacreage and crop reduction programs, the organizations said.\n    \"We will not continue to hurt ourselves economically -- and\nsubsidize foreign wheat production -- by unilaterally stocking\ngrain and changing programs which protect our growers,\" Jim\nMiller, president of NAWG said.\n    \"We sincerely hope for some type of agreement among the\nworld\'s major grain producing nations to reduce stocks and\nrestore profitability to agriculture,\" Miller said.\n Reuter\n&#3;',1
'GELCO &lt;GEL> SEES FLAT 1987 PRETAX OPERATING NET Gelco Corp said that,\nexcluding the effects of a restructuring plan, it expects\npre-tax operating earnings for the year to end July 31, 1987,\nto be about the same as those of last year.\n    For the year ended July 31, 1986, Gelco reported pre-tax\noperating earnings of 14.8 mln dlrs, or 1.08 dlrs a share.\n    However, final results will be affected by certain charges\nincluding legal and investment advisors fees, preferred stock\ndividends and other costs of restructuring, it said.\n    Expenses associated with restructuring are expected to be\noffset by \"significant\" gains from the sale of some of Gelco\'s\nbusiness units, it said.\n    The final outcome for the fiscal year will be determined by\nthe timing and proceeds from the sale, it added.\n Reuter\n&#3;',0
'UTILICORP &lt;UCU> ACQUIRES DOMINION &lt;D> SUBSIDIARY UtiliCorp United Inc said it\nhas closed the previously announced acquisition of West\nVirginia Power from Dominion Resources Inc for about 21 mln\ndlrs.\n Reuter\n&#3;',0
'PESCH SEES SHAREHOLDER SUPPORT IN AMI &lt;AMI> BID Chicago physician LeRoy Pesch said he\nhas had discussions with several American Medical International\nInc shareholders and sees support for a restructuring of the\ncompany.\n    Pesch said he has discussed his sweetened, 1.91 billion dlr\ntakeover bid for American Medical with several large\nshareholders, including the biggest investor, the Bass family\nof Texas. However, the Bass family has not indicated support\none way or the other for his offer, he said.\n    Pesch, in an interview with Reuters, said based on the\nconversations he held with shareholders, he could not guage\nwhether he had majority support. He said, however, there is\nsupport for his offer.\n    Pesch would not identify shareholders with whom he held\ndiscussions other than the Bass family and the Wedge Group Inc,\nthe only other holder of more than five pct of American Medical\nstock.\n    Earlier today, Wedge Group, which has a 5.5 pct stake, \nsaid it held discussions with Pesch, American Medical\nmanagement and other American Medical shareholders.\n    Wedge, in a filing with the Securities and Exchange\nCommission, said it believes a restructuring of American\nMedical and its business would be \"highly desirable and\nappropriate at this time.\"\n    \"That\'s the sort of position that I find a large segment of\nshareholders of AMI really share,\" said Pesch.\n    Pesch said he held discussions with Wedge about joining his\ntakeover effort, in which he is offering 17 dlrs cash, four\ndlrs in preferred stock and one dlr in common stock for each\nAmerican Medical share. Wedge said it has no plans to join in\nan effort to seek control of American Medical, but it would not\nrule out a future takeover try.\n    Pesch said he did not discuss a joint takeover proposal\nwith the Bass family.\n    Some analysts saw the Wedge statement as a boost to Pesch\'s\ntakeover effort and a further sign that there could be some\nshareholder dissatisfaction following American Medical\'s\nprevious rejection of a 20 dlr per share all cash offer from\nPesch.\n    American Medical is expected to resist Pesch\'s latest bid.\nLarry Feinberg, an analyst with Dean Witter Reynolds Inc said a\nmanagement-led leveraged buyout cannot be ruled out.\n    An American Medical spokesman said the company will comment\non the new Pesch offer by March 10.\n    Analysts continue to view the Bass family as a factor in\nthe outcome of the bid for control of American Medical.\n    The Bass family holds an 11. 6 pct stake in American\nMedical, and the company has previously said the investors\nsupport management\'s internal plan to improve the company\'s\nperformance. The Bass family would not comment on American\nMedical or Pesch.\n    Pesch, who led the leveraged buyout of Republic Health Corp\nlast year, continues to face a credibilty problem on Wall\nStreet because of the long time it took to finish the Republic\nacquisition.\n    Republic also has substantial debt, and has left wall\nstreet questioning whether financing can be completed for the\nmuch larger American Medical takeover proposal.\n    Pesch\'s first offer for American Medical was made without\nan investment banking firm, another cause for concern to Wall\nStreet. However, Pesch entered his second offer with\nrepresentation from Donaldson, Lufkin, and Jenrette Securities\nand Security Pacific Merchant Banking Group.\n    \"I don\'t have any doubt that the current transaction can be\nworked out and completed, provided we get to the point where\nAmi management will sit down and talk in a friendly\nenvironment,\" Pesch said.\n    Pesch would not elaborate on what type of financing\narrangements are being made. He did say if he succeeds in\nacquiring American Medical he plans to keep much of American\nMedical management in place.\n    He said he plans to combine the company with Republic to\nform an efficient network of hospitals.\n    Analysts said they do not believe a much higher offer could\nbe made for American Medical.\n    Byron Nimocks of E.F. Hutton Group said improved second\nfiscal quarter earnings could make American Medical stock worth\nabout 20 dlrs per share.\n    Nimocks estimates American Medical earnings for the second\nquarter ended February 28 could be 35 cts, compared to a 95 ct\nloss last year.\n    Nimocks said Pesch\'s revised offer is not worth much more\nthan the 20 dlrs cash offered previously.\n    But Feinberg said there is a better chance a transaction\ncould be completed because of the revised structure of the\noffer. \"I think it\'s much more doable,\" he said.\n    Analysts have said American Medical has begun a turnaround\nby replacing some members of management and reducing costs.\n Reuter\n&#3;',0
'SENIOR DELEGATES PESSIMISTIC ON ICO TALKS Efforts to break an impasse between\ncoffee exporting and importing countries over regulating the\nworld coffee market in the face of falling prices appear to\nhave failed, senior delegates said after a contact group\nmeeting. The full ICO council is due to meet this evening.\n    President of the Brazilian Coffee Institute (IBC) Jorio\nDauster told Reuters after the contact group meeting there had\nbeen no agreement on quotas as consumers had tried to dictate\nmarket shares rather than negotiate them.\n    Dauster said there are no plans yet to renew negotiations\nat a later date.\n Reuter\n&#3;',0
'GLAMIS GOLD LTD &lt;GLGVF> SIX MTHS DEC 31 NET Shr 16 cts vs 22 cts\n    Net 1,226,597 vs 1,327,016\n    Revs 6,598,580 vs 5,921,828\n Reuter\n&#3;',0
'U.S. APPROVES BUYOUT OF COASTAL BANCORP &lt;CSBK> Coastal Bancorp said the U.S.\nFederal Reserve Board approved the acquisition of Coastal by\nSuffield Financial Corp &lt;SSBK>.\n    The acquisition still requires approval from the Banking\nDepartment in Maine, the company noted.\n Reuter\n&#3;',0
'LITTLE PRINCE PRODUCTIONS LTD&lt;LTLP>1ST QTR LOSS Qtr ended Dec 31\n    Shr profit nil vs loss nil\n    Net profit 858 vs loss 3,957\n    Revs 7,372 vs 1,500\n Reuter\n&#3;',0
'AMCA &lt;AIL> TO SELL SOME DOMINION BRIDGE ASSETS AMCA International Ltd said it finalized\nagreement to sell certain assets and inventories of its\nDominion Bridge steel service center operations to &lt;Federal\nIndustries Ltd>\'s Russelsteel Inc unit. Terms were undisclosed.\n    It said the sale involved assets and operations of the\ngeneral line of steel service centers in Toronto and Edmonton,\nAlberta and steel from inventories of closed AMCA branches.\n    The company said the sale was part of a previously\nannounced restructuring program to allow it to focus on certain\ncore businesses and generate cash to cut debt.\n Reuter\n&#3;',0
'SCOTT\'S HOSPITALITY ACQUIRES CAPITAL FOOD &lt;Scott\'s Hospitality Inc> said it\nacquired Capital Food Services Ltd, Ottawa\'s largest catering\nand food service company, for undisclosed terms.\n    Scott\'s said it would operate Capital Food as a separate\nunit under Capital\'s current name and management.\n Reuter\n&#3;',0
'UNION NATIONAL &lt;UNBC> SIGNS DEFINITIVE PACT Union National Corp said it\nsigned a definitive agreement under which its First National\nBank and Trust Co of Washington unit will merge with &lt;Second\nNational Bank of Masontown>.\n    Under a previously announced merger agreement, each share\nof Second National\'s common stock will be converted into 25\nshares of Union National common.\n Reuter\n&#3;',0
'ANALYSTS SEE NO OTHER BIDDER FOR PUROLATOR&lt;PCC> Several analysts said they do not\nbelieve another suitor will top the 265 mln dlr bid for\nPurolator Courier Corp by E.F. Hutton LBO Inc and a management\ngroup from Purolator\'s courier division.\n    There had been speculation another offer might be\nforthcoming, but analysts mostly believe the 35 dlrs per share\nprice being paid by Hutton and the managers\' PC Acquisition Inc\nis fully valued.\n    Analysts and some Wall Street sources said they doubted\nanother bidder would emerge since Purolator had been for sale\nfor sometime before a deal was struck with Hutton Friday.\n    Purolator\'s stock slipped 3/8 today to close at 34-3/4. It\nhad been trading slightly higher than the 35 dlr offer on\nFriday. At least one analyst Friday speculated the company\nmight fetch 38 to 42 dlrs per share.\n    analysts and wall street sources doubted a competitive\noffer would emerge since the company has been for sale for\nsometime before the deal with Hutton was struck Friday.\n    Hutton had been in talks with Purolator\'s adviser, Dillon,\nRead and Co since late December, a Hutton spokesman said.\n    Hutton is offering 35 dlrs cash per share for 83 pct of the\nshares. If all shares are tendered, shareholders would receive\n29 dlrs cash, six dlrs in debentures, and warrants for stock in\na subsidiary of PC Acquisition containing the Purolator U.S.\ncourier operation. Hutton values the warrants at two to three\ndlrs per share.\n    Wall Street sources also said today that a rival bidder\nmight be discouraged by a breakup fee Purolator would have to\npay if it ends its agreement with Hutton. The sources would not\nreveal the amount of the fee, which will be noted in documents\non the transaction to be made public later this week.\n Reuter\n&#3;',0
'WHITEHALL CORP &lt;WHT> 4TH QTR NET Shr 15 cts vs 55 cts\n    Net 557,000 vs 2,020,000\n    Revs 8,872,000 vs 13,908,000\n    Year\n    Shr 60 cts vs 2.52 dlrs\n    Net 2,198,000 vs 9,313,000\n    Revs 36.9 mln vs 55.7 mln\n Reuter\n&#3;',0
'SERVICE CORP INTERNATIONAL &lt;SRV> 3RD QTR NET Qtr ended Jan 31\n    Shr 33 cts vs 29 cts\n    Net 14.8 mln vs 11 mln\n    Revs 108.6 mln vs 70.0 mln\n    Avg shrs 45.2 mln vs 37.6 mln\n    Nine mths\n    Shr 88 cts vs 76 cts\n    Net 36.7 mln vs 28.7 mln\n    Revs 260.4 mln vs 193.0 mln\n    Avg shrs 41.9 mln vs 37.8 mln\n    Note: Net for nine mths includes gains from dispositions of\n1,783,000 dlrs or four cts a share vs 900,000 dlrs or two cts a\nshare.\n    Avg shrs and shr data restated to reflect three-for-two\nstock split in January.\n Reuter\n&#3;',0
'PEOPLES BANCORPORATION &lt;PEOP> QUARTERLY DIVIDEND Qtly div 25 cts vs 25 cts\n    Pay April 24\n    Record March 31\n Reuter\n&#3;',0
'CPL REIT &lt;CNTRS> 4TH QTR NET Shr 24 cts\n    Net 412,737\n    Revs 605,321\n    Year\n    Shr 93 cts\n    Net 1,577,892\n    Revs 2,345,261\n    NOTE: Full name CPL Real Estate Investment Trust.\n    Company was formed Dec 30, 1985.\n Reuter\n&#3;',0
'REPUBLIC AUTOMOTIVE PARTS &lt;RAUT> 4TH QTR LOSS Shr loss 85 cts vs loss 88 cts\n    Net loss 2,410,000 vs loss 2,466,0000\n    Revs 24.0 mln vs 23.9 mln\n    Year\n    Shr loss 1.18 dlrs vs loss 81 cts\n    Net loss 3,338,000 vs loss 2,275,000\n    Revs 101.4 mln vs 112.3 mln\n Reuter\n&#3;',0
'REALMERICA CO &lt;RACO> YEAR NOV 30 NET Shr profit four cts vs loss 16 cts\n    Net profit 155,383 vs loss 577,336\n    Note: Net includes tax credit of 51,226 dlrs or one ct per\nshare.\n Reuter\n&#3;',0
'S-K-I LTD &lt;SKII> 2ND QTR JAN 25 NET Shr 81 cts vs 57 cts\n    Net 3,660,273 vs 2,437,914\n    Revs 28.5 mln vs 23.1 mln\n    Six mths\n    Shr 29 cts vs 12 cts\n    Net 1,325,755 vs 483,559\n    Revs 31.7 mln vs 26.4 mln\n Reuter\n&#3;',0
'FERRO CORP &lt;FOE> SETS JOINT VENTURE Ferro Corp said it has formed a\njoint venture with Paris-based Alsthom Inudstrial Group to\nexport U.S. epxertise in specialty composite materials to the\nEuropean market.\n    Ferro said although the airframe and aerospace industries\nare the prime users of composite materials today, it plans to\ndevelop applications for the ground transportation and\nindustrial markets in the near future.\n    Ferro also announced it has agreed to purchase CompositAir,\na developer of composit materials applications, for an\nundisclosed sum.\n Reuter\n&#3;',0
'NYMEX RULE CHANGE SEEN BOOSTING ENERGY TRADE The New York Mercantile Exchange said\nit will introduce exchanges for physicals (EFPS) to its energy\nfutures markets April one.\n    An exchange spokeswoman said the change will allow oil\ntraders that do not hold a futures position to initiate, after\nthe exchange closes, a transaction that can subsequently be\nhedged in the futures market.\n    EFPs, already in effect for platinum futures on NYMEX, are\nexpected to increase the open interest and liquidity in U.S.\nenergy futures, according to traders and analysts.\n    The Commodity Futures Trading Commission approved the rule\nchange in February, according to a CFTC spokeswoman.\n Reuter\n&#3;',0
'U.S. REFINERY COPPER STOCKS FALL IN JANUARY Refined copper stocks held by U.S.\nrefineries fell to 109,200 short tons at the end of January\nfrom 145,400 short tons at the end of December, the American\nBureau of Metal Statistics reported.\n    Commodity Exchange (Comex) copper stocks climbed to 103,000\ntons in January from 93,300 tons in December. Combined refinery\nand Comex stocks eased to 212,200 tons in January\nfrom 238,700 tons in December.\n    U.S. refined production declined to 117,600 tons in January\nfrom 137,400 tons in December. Crude output increased to 98,600\ntons in January from 93,300 tons (revised lower) in December.\n    Preliminary figures showed U.S. refined deliveries rose to\n151,800 tons in January from 124,800 tons in December.\n Reuter\n&#3;',0
'CCL UNIT ACQUIRES NESTLE CANADA CAN OPERATIONS &lt;CCL Industries Inc>\'s Continental Can\nCanada Inc unit said it acquired the Wallaceburg, Ontario,\nmetal can making operations of Nestle Enterprises Ltd, wholly\nowned by &lt;Nestle SA>, of Switzerland. Terms were undisclosed.\n    Continental Can said it would supply Nestle\'s equivalent\ncan requirements under a long-term agreement.\n    Nestle said it decided to stop manufacturing cans \"in order\nto be in a better position to take full advantage of the\nchanges underway or on the horizon in food packaging\ntechnology.\"\n Reuter\n&#3;',0
'AMERICAN PORK CONGRESS KICKS OFF TOMORROW The American Pork Congress kicks off\ntomorrow, March 3, in Indianapolis with 160 of the nations pork\nproducers from 44 member states determining industry positions\non a number of issues, according to the National Pork Producers\nCouncil, NPPC.\n    Delegates to the three day Congress will be considering 26\nresolutions concerning various issues, including the future\ndirection of farm policy and the tax law as it applies to the\nagriculture sector. The delegates will also debate whether to\nendorse concepts of a national PRV (pseudorabies virus) control\nand eradication program, the NPPC said.\n    A large trade show, in conjunction with the congress, will\nfeature the latest in technology in all areas of the industry,\nthe NPPC added.\n Reuter\n&#3;',0
'COPPER STOCKS OUTSIDE U.S. INCREASE IN DECEMBER Refined copper stocks held by\nrefineries outside the U.S. increased to a preliminary 277,500\nshort tons at the end of December from a preliminary 270,000\nshort tons (revised higher) at the end of November, the\nAmerican Bureau of Metal Statistics said.\n    London Metal Exchange stocks fell to 193,100 tons in\nDecember from 194,400 tons in November. Combined refinery and\nLME stocks rose to a preliminary 470,600 tons from 464,400 tons\n(revised higher). January LME stocks were 193,400 tons.\n    Preliminary figures showed refined production outside U.S.\nlower at 377,300 tons in December versus 384,000 tons in\nNovember. Crude output decreased to 421,500 tons from 427,000\ntons (revised higher). Refined copper deliveries decreased to\n359,800 tons from 375,400 tons (revised lower).\n Reuter\n&#3;',0
'MFS MANAGED MUNCIPAL BOND TRUST SETS PAYOUT &lt;MFS Managed Muncipal Trust Bond>\nsaid it declared a monthly payout income distribution of 5.7\ncts a share compared with 5.6 cts for the previous month.\n    It said the distribution is payable March 20 to\nshareholders of record March two.\n Reuter\n&#3;',0
'U.S. BRASS MILL COPPER STOCKS LOWER IN JANUARY U.S. brass mill copper stocks fell to\n185,400 short tons (copper content) at the end of January from\n191,200 short tons at the end of December, according to the\nAmerican Bureau of Metal Statistics.\n    Consumption by brass mills increased to 60,700 short tons\nin January from 48,900 short tons in December.\n    Mills consumed 29,600 tons of refinery shapes in January\nversus 24,000 tons in December. Scrap consumption increased to\n31,100 tons in January from 24,900 tons in December.\n    Total brass mill shipments increased to 69,600 tons in\nJanuary from 54,400 tons in December, while receipts rose to\n63,800 tons from 47,100 tons.\n Reuter\n&#3;',0
'MFS MUNICIPAL INCOME TRUST &lt;MFM> SETS PAYOUT MFS Municipal Income Trust said it\ndeclared a monthly income distribution of 5.7 cts a share\ncompared with 5.5 cts a share paid in the previous month.\n    It said the distribution is payable March 27 to\nshareholders of record March 13.\n Reuter\n&#3;',0
'PITTWAY CORP &lt;PRY> 4TH QTR NET Shr 1.35 dlrs vs two dlrs\n    Net 6,195,000 vs 9,202,000\n    Sales 157.5 mln vs 151.6 mln\n    Year\n    Shr 6.02 dlrs vs 6.78 dlrs\n    Net 27,608,000 vs 31,117,000\n    Sales 585.7 mln vs 541.3 mln\n Reuter\n&#3;',0
'ARMTEK &lt;ARM> TO SELL INDUSTRIAL TIRE UNIT Armtek Corp, previously the\nArmstrong Rubber Co, said it agreed to sell its industrial tire\nand assembly division to a Dyneer Corp &lt;DYR> for an undisclosed\nsum.\n    It said the agreement covers the division\'s tire production\nfacility in Clinton, Tenn., and its plants serving original\nequipment and replacement markets. Armstrong Tire Co, an Armtek\nunit, will continue to sell replacement industrial tires, the\ncompany said.\n    Final closing is expected in the third fiscal quarter\nending June 30.\n\n Reuter\n&#3;',0
'PETROLITE CORP &lt;PLIT> SETS PAYOUT Qtly dividend 28 cts vs 28 cts\n    Pay April 24\n    Record April 10\n Reuter\n&#3;',0
'NYMEX TO SUBMIT PROPANE PROPOSAL TO CFTC The New York Mercantile Exchange expects\nto submit a propane futures contract for federal regulatory\napproval within a few days, according to an exchange\nspokeswoman.\n    As previously announced, the Board of Governors of the\nexchange approved the contract last month. The exchange will\nnow submit the contract to the Commodity Futures Trading\nCommission, according to the spokeswoman.\n    Contract specifications will resemble those of heating oil\nand gasoline futures. The contract size will be 1,000 barrels,\nor 42,000 U.S. gallons.\n    The minimum price fluctuation for the propane futures\ncontract will be  0.01 cent per gallon, or 4.20 dlrs a barrel,\naccording to the exchange.\n    The maximum daily price limit will be two cts a gallon on\nall contracts except spot. Trading will terminate on the last\nbusiness day of the month preceding the delivery month.\n    The exchange said delivery will be F.O.B from the seller\'s\npipeline, storage, or fractionation facility in Mont Belvieu,\nTexas, which has a direct pipeline access to the Texas Eastern\nTransmission Pipeline (TET) in Mont Beliview.\n    Delivery method will be by in-line or in-well transfer,\ninter-facility transfer or pumpover, or book transfer and\ncannot be done earlier than the tenth calendar day of the\ndelivery month, according to the exchange. Deliveries must be\ncompleted no later than two business days prior to the end of\nthe delivery month.\n    Buyers taking delivery of the propane must pay the seller\nby certified check and the deadline for payment is 1200 EST\n(noon) of the second business day following receipt of the\npropane.\n Reuter\n&#3;',0
'australian annual broad money supply growth 10.3 pct in January\n ',0
'YEUTTER BLASTS PROPOSED EC OILS AND FATS TAX U.S. trade representative Clayton\nYeutter today said that if the European Community\'s Council of\nMinisters approves a tax on vegetable oils and fats, another\nmajor transatlantic trade row will erupt over agriculture.\n    In a statement issued by the trade representative\'s office\nfollowing a speech to the American Soybean Association\'s board\nof directors, Yeutter said the proposed tax would have a severe\nimpact on American soybean farmers, who export some 2.4 billion\ndlrs in soybeans and products annually to the EC.\n    \"This is an unacceptable situation for us and its\n(vegetable oils tax) enactment would leave us no choice but to\nvigorously protect our trade rights and defend our access to\nthe European market,\" Yeutter said.\n    Yeutter said the proposed vegetable oils tax would violate\nEC obligations under the GATT.\n    He said the effect of the tax would be to double the price\nof soyoil produced from imported soybeans, making margarine\nmade from soyoil more expensive than tallow-based margarine,\nand closer in price to expensive European butter.\n    \"I am astonished that the EC commission would propose such\na provocative measure so soon after we successfully resolved\nthe agricultural dispute over the enlargement of the EC to\ninclude Spain and Portugal,\" Yeutter said.\n    \"It serves no purpose to embark on another confrontational\ncourse before the recent wounds have healed and as we are\nbeginning to make progress on the Uruaguay round (of global\ntrade talks),\" he said.\n Reuter\n&#3;',0
'EXXON &lt;XON> CUTS HEATING OIL BARGE PRICE Oil traders in New York said Exxon\nCorp\'s Exxon U.S.A. unit reduced the price it charges contract\nbarge customers for heating oil in New York harbor 0.75 cent a\ngallon, effective today.\n    They said the reduction brings Exxon\'s contract barge price\nto 43.25 cts. The price decrease follows sharp declines in\nheating oil prices on spot and futures markets, traders said.\n Reuter\n&#3;',0
'GREECE SAYS IT HAS RIGHT ON AEGEAN OIL DRILLING Greece, responding to a warning by Turkey\nagainst conducting oil activities in the Aegean Sea, said today\nit had the right to decide where and how to do research or\ndrilling work in the area.\n    A government spokesman said the Greek position was made\nclear to Turkey\'s ambassador Nazmi Akiman when he met Greek\nForeign Affairs Undersecretary Yannis Kapsis last week.\n    Acting Turkish Prime Minister Kaya Erdem said earlier today\nGreek activities in the northern Aegean contravened the 1976\nBerne Agreement which set the framework for talks on the Aegean\ncontinental shelf disputed between Ankara and Athens.\n    The Greek statement today said, \"Greece is not prepared to\ngive up even a trace of its sovereignty rights to the seabed.\nIt has been stressed to...Mr Akiman that the decision where or\nhow to drill belongs exclusively to the Greek government.\"\n    \"The Greek government has repeatedly let the Turkish side\nknow that it considers the 1976 Berne protocol as inactive\nthrough the fault of Turkey,\" it said.\n    The Greek statement said Athens was ready to put the\ncontinental shelf issue before international courts.\n Reuter\n&#3;',0
'LEUCADIA &lt;LUK> HAS 7.2 PCT OF MINSTAR &lt;MNST> Leucadia National Corp said two of\nits subsidiaries have acquired a 7.2 pct stake in Minstar Inc,\na corporation controlled by corporate raider Irwin Jacobs and\nused by him in his forays to acquire stock in companies.\n    In a filing with the Securities and Exchange Commission,\nLeucadia said its LNC Investments Inc, a Newark, Del.,\ninvestment firm, and Charter National Life Insurance Co, a St.\nLouis joint stock life insurance company, bought their combined\n1,261,000 Minstar common shares for investment purposes only.\n    The Leucadia subsidiaries had held an 11.0 pct stake in\nMinstar, but cut to 1.8 pct, or 313,200 shares, last July.\n    Since July, Leucadia said its companies have bought 947,800\nMinstar common shares for a total of 24.7 mln dlrs.\n    Leucadia said it bought the Minstar stake to obtain an\nequity position in the company and has no intention of seeking\ncontrol of it.\n    Nearly half of Leucadia\'s common stock is owned by TLC\nAssociates, a Salt Lake City, Utah, general partnership, whose\npartners include the chairman and president of Leucadia and\nother investors.\n Reuter\n&#3;',0
'BASIX CORP &lt;BAS> 4TH QTR LOSS Oper shr loss eight cts vs profit 20 cts\n    Oper net loss 768,000 vs profit 1,962,000\n    Revs 49.0 mln vs 43.6 mln\n    12 mths\n    Oper shr loss 1.41 dlrs vs profit 96 cts\n    Oper net loss 13.6 mln vs profit 9,305,000\n    Revs 175.3 mln vs 140.7 mln\n    Note: Oper excludes loss from discontinued operations of\n4,676,000 dlrs or 48 cts a share for year-ago qtr and 7,571,000\ndlrs or 78 cts a share for year-ago 12 mths.\n    Oper includes charge of 1.1 mln dlrs for cumulative effect\nof repeal of the investment tax credit for qtr and writedown of\n21.6 mln dlrs on gas and oil facilities for 12 mths.\n    Year-ago shr data restated to reflect two pct stock\ndividend of December 1986.\n Reuter\n&#3;',0
'AUSTRALIAN JANUARY ANNUAL BROAD MONEY UP 10.3 PCT Australia\'s broad money supply rose 10.3\npct in the year ended January, up from a revised 9.6 pct in\nDecember, the Reserve Bank said.\n    This compares with the previous January\'s 13.9 pct.\n    In January broad money growth slowed to 0.7 pct from\nDecember\'s 1.5 pct and compared with nil growth in January\n1986.\n    Within the broad money total, non-bank financial\nintermediaries rose by 0.2 pct from a revised decline of 0.2 \nin December and a previous January\'s 0.8 pct increase.\n    In the January year, NBFI\'s borrowings rose by 9.5 pct from\na revised 10.1 in December and compared with a previous\nJanuary\'s 12.8.\n    At the end of January, broad money stood at 175,866 mln\ndlrs dlrs from December\'s 174,668 mln dlrs and a January 1986\nlevel of 159,453 mln.\n    In the same period, borrowings from the private sector by\nthe NBFIs rose to 70,389 mln dlrs from December\'s 70,237 mln\nand the previous January\'s 64,299 mln.\n Reuter\n&#3;',0
'MICROBIO &lt;MRC> PLANS ACQUISITION, FINANCING Microbiological Research Corp\nsaid it entered into a letter of intent for a proposed business\ncombination with privately owned &lt;DataGene Scientific\nLaboratories Inc>, and &lt;Milex Corp> a newly formed company,\nthrough a stock swap.\n    It also said it received 100,000 dlrs from the sale of a\nconvertible note to Ventana Growth Fund as part of an overall\n1,100,000 equity financing plan with Ventana. Under that plan,\na minimum of 400,000 dlrs and a maximum of one mln dlrs of\nadditional new capital is to be provided to fund the combined\noperations of the three companies.\n    Microbiological also said that if the maximum additional\ncapital is raised, it will own about 49 pct of 4,550,00 shares\nof common outstanding in the new combined company, DataGene\nholders will own 29 pct, and Ventana and others will own 13\npct.\n    It said the remaining nine pct will be held by Milex\nshareholder Norman Monson, who will become chief executive\nofficer of the combined companies.\n Reuter\n&#3;',0
'ICO COUNCIL ENDS IN FAILURE TO AGREE QUOTAS A special meeting of the International\nCoffee Organization (ICO) council failed to agree on how to set\ncoffee export quotas, ICO delegates said.\n    Producers and consumers could not find common ground on the\nissue of quota distribution in eight days of arduous, often\nheated talks, delegates said.\n    Export quotas -- the major device of the International\nCoffee Agreement to stabilise prices -- were suspended a year\nago after coffee prices soared in reaction to a drought in\nBrazil which cut its output by two thirds.\n    Delegates and industry representatives predicted coffee\nprices could plummet more than 100 stg a tonne to new four year\nlows tomorrow in response to the results of the meeting.\n Reuter\n&#3;',0
'FRANCE HAS LITTLE ROOM FOR MANOEUVRE, OECD SAYS French industry is failing to produce the\ngoods its markets need and its loss of competitiveness has left\nthe government little room for manoeuvre to reflate the\neconomy, the Organisation for Economic Cooperation and\nDevelopment said.\n    With gross domestic product likely to grow only 2.1 pct\nthis year, the same rate as last year, unemployment could climb\nto 11.5 pct of the workforce by mid-1988, from its present 10.9\npct, it said in an annual review of the French economy.\n    The report said the French economy was \"increasingly\nill-adapted to demand\" selling goods at \"uncompetitive relative\nprices on both domestic and export markets.\"\n    \"France\'s poor export performance reflects a geographical\nbias in favour of markets less dynamic than the average...\nAnd...A substantial loss of market share...In the past 18\nmonths,\" it said.\n    Pointing to a likely widening of the French trade deficit\nto around 2.9 billion dlrs this year from 2.4 billion in 1986,\nit warned that a further depreciation of the dollar against the\nfranc could lead to \"a (renewed) loss of competitiveness\nrelative not only to the United States but also to the newly\nindustrialised countries.\"\n    This could result in further major losses of market share,\nparticularly in the non-OECD area, which accounts for almost a\nquarter of French exports, it said.\n    Until the competitive ability of industry improved, the\nauthorities would have \"little scope for macroeconomic\nmanoeuvre, even if the unemployment situation or the need to\nencourage a pickup in investment could require demand to grow\nmore briskly,\" it added.\n    But rising unemployment could help to hold down wage\ndemands, contributing to a slowdown in inflation to around a\ntwo pct annual rate this year and early next, the OECD said.\n    Written mainly in December last year, the report took no\naccount of a rise in oil prices early in 1987, and a 0.9 pct\nsurge in January consumer prices, caused partly by the\ngovernment\'s deregulation of service sector tariffs.\n    \"We took a bet that the freeing of prices would not provoke\nrunaway rises, and it is not absolutely certain that bet has\nbeen lost,\" one OECD official commented.\n    OECD officials said the January data and a rise in oil\nprices above the 15 dlrs a barrel average assumed in the\nreport, indicated an upward revision in the inflation forecast\nto around 2.5 or three pct.\n    The government last week revised its forecast up to between\n2.4 and 2.5 pct from two pct, against last year\'s 2.1 pct.\n    But the OECD backed the government\'s view that the\nunderlying trend for inflation remained downwards this year,\nwith a slowdown in domestic costs taking over from last year\'s\nfall in oil and commodity prices as the chief cause of\ndisinflation.\n    With French unit productivity costs now among the lowest in\nthe OECD area, the inflation differential between France and\nits main trading rival, West Germany, could fall to just one\npct this year, it said.\n    On the other hand, the report noted, consumer prices for\nindustrial goods and private services have been rising steeply\nas companies built up their profits.\n    \"For the disinflationary process to continue , and price\ncompetitiveness to become lastingly compatible with exchange\nrate stability, it is essential that wage restraint continue,\"\nit said.\n REUTER\n&#3;',0
'PAINEWEBBER&lt;PWJ> UNIT UPS SHAER SHOE &lt;SHS> STAKE Mitchell Hutchins Asset Management\nInc, a New York investment firm and subsidiary of PaineWebber\nGroup Inc, said it raised its voting stake in Shaer Shoe Corp\nto 76,000 shares, or 7.5 pct, from 52,100 shares, or 5.1 pct.\n    In a filing with the Securities and Exchange Commission,\nMitchell Hutchins said it bought 11,900 shares between Jan 8\nand Feb 24 at prices ranging from 12.125 to 12.75 dlrs a share\nand obtained voting control over another 12,000 shares.\n    The firm has said it bought the stake as an investment on\nbehalf of its clients, but said it has had discussions with\nShaer management. It did not disclose the topic of the talks.\n Reuter\n&#3;',0
'TELECREDIT INC &lt;TCRD> 3RD QTR JAN 31 NET Shr 32 cts vs 22 cts\n    Net 3,454,000 vs 2,224,000\n    Revs 33.2 mln vs 28.1 mln\n    Nine mths\n    Shr 64 cts vs 38 cts\n    Net 6,935,000 vs 3,877,000\n    Revs 86.8 mln vs 70.9 mln\n Reuter\n&#3;',0
'LASER PRECISION CORP &lt;LASR> 4TH QTR NET Shr profit 14 cts vs profit two cts\n    Net profit 452,723 vs profit 50,581\n    Revs 5,065,543 vs 2,898,363\n    Year\n    Shr profit 45 cts vs loss 15 cts\n    Net profit 1,276,472 vs loss 340,081\n    Revs 16.0 mln vs 9,304,466\n Reuter\n&#3;',0
'REXNORD &lt;REX> TO REDEEM RIGHTS Rexnord Inc said it will redeem\nall of its preferred stock purchase rights for 10 cts a right\neffective today.\n    Rexnord said the rights will be redeemed because it is\nexpected its shares will be tendered under a January 30\ntakeover offer from Banner Acquisition Corp. The rights trade\nin tandem with Rexnord\'s common stock.\n Reuter\n&#3;',0
'CANTREX UNIT TO MERGE WITH ONTARIO GROUP (Groupe Cantrex Inc) said it plans to\nmerge a new wholly-owned subsidiary a merger agreement with\n(CAP Appliance Purchasers Inc), of Woodstock, Ontario, a group\nof about 400 appliance and electronics retailers.\n    It said CAP shareholders will receive 140,700 first\npreferred Groupe Cantrex shares entitling the holders to\nreceive 6.05 dlrs per share or the equivilant in class A\nsubordinate voting Cantrex shares.\n    The merger is effective April one and is subject to\nshareholder approval.         \n Reuter\n&#3;',0
'INVESTMENT FIRM BOOSTS LDBRINKMAN &lt;DBC> STAKE Two affiliated investment firms and\nthe investment funds they control said they raised their\ncombined stake in LDBrinkman Corp to 653,600 shares, or 10.9\npct of the total outstanding from 585,600 shares, or 9.7 pct.\n    In a filing with the Securities and Exchange Commission,\nFidelity International Ltd, a Bermuda-based firm, said its\nfunds bought 68,000 LDBrinkman common shares between Jan 5 and\nFeb 19 at prices ranging from 5.30 to 5.445 dlrs a share.\n    Funds controlled by FMR Corp, a Boston-based investment\nfirm affiliated with Fidelity, hold 251,100 shares, bringing\nthe combined total to 653,600 shares, Fidelity said.\n Reuter\n&#3;',0
'ITT\'S &lt;ITT> HARTFORD UNIT POSTS 4TH QTR GAIN Hartford Insurance Group, a unit\nof New York-based ITT Corp, said higher worldwide premiums help\nboost net income for the 1986 fourth quarter to 88.6 mln dlrs,\nfrom net income of 36.7 mln dlrs for the 1985 quarter.\n   For the full year, Hartford said it earned 329 mln dlrs, up\nfrom 151.4 mln dlrs in 1985.\n    Hartford said results for the year were aided by a gain of\n46.5 mln dlrs on the sale of its remaining 52 pct stake in\nAbbey Life Group PLC. For 1985, the company posted a gain of\n14.3 mln dlrs on the sale of 48 pct of Abbey Life.\n    Hartford said total property-casualty and life-health\nwritten premiums rose 25 pct in 1986, to eight billion dlrs,\nfrom 6.4 billion dlrs in 1985.\n Reuter\n&#3;',0
'SEC PROBES 1986 TRE &lt;TRE> TAKEOVER ATTEMPT The federal Securities and Exchange\nCommission (SEC) is looking for possible securities laws\nviolations in connection with an unsuccessful 1986 bid by\nHollywood producer Burt Sugarman to take over TRE Corp,\nattorneys contacted by SEC investigators said.\n    During the takeeover attempt, a unit of Sugarman\'s Giant\nGroup Ltd at one point held a 9.9 pct stake in TRE.\n    It had help in that effort from Jefferies Group Inc, a Los\nAngeles investment banking firm which sold it an option on a\nportion of the shares Sugarman eventually acquired.\n    In addition, a company controlled by Sugarman raised 35 mln\ndlrs in a debt offering underwritten by Drexel Burnham Lambert\nInc with help from Jefferies, and used a portion of the\nproceeds to buy TRE stock.\n    Finally, Reliance Group Holdings Inc acquired nearly six\npct of TRE, according to an SEEC filing.\n    The attorneys, who asked not to be identified, said the SEC\nwas investigating whether Sugarman and other firms with TRE\nholdings were working together without disclosing their\ncooperation, as would be required by the federal securities\nlaws.\n    One attorney said SEC probers also were examining whether\nSugarman and Drexel had made adequate disclosures of its\nintended usage of the proceeds in the prospectus for the 35 mln\ndlr bond offering.\n    A TRE spokesman confirmed that TRE, since December a unit\nof Aluminum Co of America, had been contacted by SEC\ninvestigators and was cooperating with the probe.\n    The spokesman added that TRE Chairman Leopold Wyler had\nbeen interviewed by the SEC probers.\n    A Jefferies spokesman said the SEC had asked for\ninformation a few months ago as part of an informal probe.\n    The spokesman said Jefferies had cooperated with the agency\nand had heard nothing more since that time.\n    \"To the best of our knowledge, Jefferies is not the target\nof a formal SEC investigation\" in connection with the TRE bid,\nhe said.\n    A Drexel spokesman acknowledged that his firm had\nunderwritten the debt offering for Sugarman but added:\n    \"We had nothing to do with TRE.\"\n    As a matter of policy, the SEC routinely declines to\ncomment on its enforcement activities.\n Reuter\n&#3;',0
'CBT FEBRUARY VOLUME DOWN 14 PCT FROM YEAR AGO February volume at the Chicago Board of\nTrade, CBT, declined 14 pct from the year-ago month to\n8,191,266 contracts, the exchange said.\n    A relatively steady interest rate climate reduced volume in\nthe most active contract, Treasury bond futures, by 17.5 pct\nfrom a year ago to 4,307,645 contracts.\n    However, trading in most agricultural futures contracts\nincreased last month, led by oats and corn futures.\n    Oats volume tripled to 27,662 contracts, and corn volume\nincreased 35 pct to 580,204 contracts. Wheat and soybean oil\nfutures activity also rose from a year ago, while soybean and\nsoybean oil volume slipped, the exchange said.\n    Major Market Index futures increased activity 37 pct during\nthe month with 194,697 contracts changing hands.\n Reuter\n&#3;',1
'USSR WHEAT BONUS RUMORS PERSIST DESPITE DENIALS Grain trade representatives continued\nto speculate that the Reagan administration will offer\nsubsidized wheat to the Soviet Union, while U.S. Agriculture\nDepartment officials said there was no substance to the\nreports.\n    \"It\'s pure fiction,\" said one senior official at USDA\'s\nForeign Agricultural Service, referring to the rumor that the\nadministration would make an export enhancement offer to Moscow\nin the next two to three weeks.\n    An aide to Agriculture Secretary Richard Lyng who asked not\nto be identified said there was nothing to substantiate the\nspeculation, which he said was started by \"somebody fanning the\n(wheat) market.\" Wheat futures strengthened today, partly on the\nbasis of the speculation.\n    One lobbyist with close connections to the Reagan\nadministration said a Soviet trade team told private grain\ntrade officials in New York last week that Moscow would buy as\nmuch as four mln tonnes of U.S. wheat, much of it before\nmid-year, if it was \"competitively priced.\"\n    Alexander Ivlev, an official with Amtorg, a Soviet trading\norganization, told Reuters he had no information to\nsubstantiate the rumors of an imminent wheat subsidy offer, but\nsaid that Moscow \"would consider\" buying U.S. wheat if it was\ncompetitively priced.\n    \"We don\'t care if it is EEP, what we (the Soviets) are\nlooking for is competitive prices,\" Ivlev said. \"If they (the\nadministration) are interested in selling it (wheat), they\nshould find ways to do it.\"\n Reuter\n&#3;',1
'CANADIAN SEAFARERS THREATEN STRIKE Canadian seafarers are almost certain\nto go on strike this spring in a refusal to meet rollbacks in\nwages and benefits asked for by their employers, Seafarers\'\nInternational Union official Roman Gralewicz said.\n    \"It\'s 99.9 percent--I guarantee you a strike,\" Gralewicz\nsaid in an interview.\n    The union represents about 2,300 workers on the Great Lakes\nand Canada\'s East and West coasts. Contract talks broke off in\nJanuary and a conciliator has been appointed to try to help\nsettle the dispute. The current contract expires at the end of\nMarch.\n    The seafarers\' employers are also asking for a reduction in\ncrew levels, a move which the union said would cost about 400\njobs.\n Reuter\n&#3;',0
'DALLAS CORP &lt;DLS> 4TH QTR LOSS Oper shr loss 22 cts vs profit 10 cts\n    Oper net loss 1,626,000 vs pofit 702,000\n    Revs 98.3 mln vs 105.1 mln\n    12 mths\n    Oper shr profit 18 cts vs profit 82 cts\n    Oper net profit 1,293,000 vs profit 5,940,000\n    Revs 396.2 mln vs 396.7 mln\n    Note: Oper net excludes loss from discontinued operations\nof 2,112,000 dlrs or 39 cts a share for year-ago qtr and\n2,036,000 dlrs or 1.10 dlrs a share for year-ago 12 mths.\n Reuter\n&#3;',0
'DILLARD DEPARTMENT STORES INC &lt;DDS> 4TH QTR NET Qtr ended Jan 31\n    Shr 1.16 dlrs vs 1.15 dlrs\n    Net 32.4 mln vs 33.5 mln\n    Revs 629.0 mln vs 538.6 mln\n    Avg shrs 32.1 mln vs 29.2 mln\n    12 mths\n    Shr 2.35 dlrs vs 2.29 dlrs\n    Net 74.5 mln vs 66.9 mln\n    Revs 1.85 billion vs 1.60 billion\n    Avg shrs 31.7 mln vs 29.2 mln\n    Note: Shr/avg shrs data show 2-for-1 split in Nov. 1985.\n Reuter\n&#3;',0
'KENTUCKY CENTRAL LIFE &lt;KENCA> SETS PAYOUT Kentucky Central Life Insurance\nCo said it declared a semi-annual dividend of 55 cts per share,\npayable March 31 to shareholders or record March 19.\n    The dividend is equal to the company\'s previous semi-annual\npayout.\n Reuter\n&#3;',0
'BANK OF NEW ENGLAND CORP &lt;BKNE> QTLY DIVIDEND Qtly div 28 cts vs 28 cts prior\n    Pay April 20\n    Record March 31\n Reuter\n&#3;',0
'JAPAN UNEMPLOYMNENT RISES TO RECORD IN JANUARY Japan\'s seasonally adjusted unemployment\nrate rose to a record 3.0 pct in January, the worst since the\nGovernment started compiling unemployment statistics under its\ncurrent system in 1953, up from the previous record 2.9 pct in\nDecember, the government\'s Management and Coordination Agency\nsaid.\n    Unemployment was up from 2.8 pct a year earlier.\n    Unadjusted January unemployment totalled 1.82 mln people,\nup from 1.61 mln in December and 1.65 mln a year earlier.\n    Male unemployment in January remained at 2.9 pct, equal to\nthe second-worst level set last December. Record male\nunemployement of 3.1 pct was set in July 1986.\n    Female unemployment in January remained at 3.0 pct, equal\nto the record level marked in April, August, September and\nDecember last year.\n    January\'s record 3.0 pct unemployment rate mainly stemmed\nfrom loss of jobs in manufacturing industries, particularly in\nexport-related firms, due to the yen\'s continuing appreciation\nagainst the dollar, officials said.\n    Employment in manufacturing industries fell 380,000 from a\nyear earlier to 14.30 mln including 1.83 mln employed in the\ntextile industry, down 190,000 from a year earlier, and 1.06\nmln in transport industries such as carmakers and shipbuilders,\ndown 170,000.\n REUTER\n&#3;',0
'FORD &lt;F> EUROPE EARNINGS UP 71 PCT LAST YEAR Ford Europe\'s net earnings soared by 71\nper cent last year to 559 mln dlrs, Kenneth Whipple, chairman\nof Ford Europe, said.\n    Whipple, here to attend the Geneva Auto Show which opens on\nThursday, said that the Ford Motor Co unit had sold a record\n1.5 million vehicles in Europe in 1986.\n    Net earnings were 326 mln dlrs in 1985.\n    Sales in 1986 represented 11.8 per cent of the European\nmarket share, Whipple said. Ford will invest 1.2 billion\ndollars in Europe in 1987, and a total of seven billion over\nthe next seven years, he added.\n Reuter\n&#3;',0
'SOUTH KOREA\'S LEADING INDICATORS FALL IN DECEMBER South Korea\'s index of leading indicators\nfell 0.1 pct to 164.1 (base 1980) in December after a 0.1 pct\nrise in November, representing a 16.1 pct year-on-year gain\nfrom December 1985, Economic Planning Board provisional figures\nshow.\n    The index is based on 10 indicators which include export\nvalues, letters of credit received, warehouse stocks, M-1 and\nM-3 money supply figures and the composite stock exchange\nindex.\n REUTER\n&#3;',0
'JAPANESE ECONOMIST SEES STABLE YEN/DOLLAR RATES The yen should stabilize at around\n152 to 153 to the U.S. Dollar for about a year, the Bank of\nTokyo\'s economic adviser Koei Narusawa said.\n    \"Both sides are showing clear interest to secure stability\nof the currencies. The major target of the Japanese government\nis to maintain the yen at above 150, at least for the rest of\nthe year,\" he told reporters during a brief visit to Malaysia.\n    Narusawa said the U.S. Is unlikely to push the yen up\nfurther because this might spark off inflation and depress the\nU.S. Economy before the 1988 presidential election.\n    The yen is trading at around 153.70 to the dollar.\n REUTER\n&#3;',0
'OPEC WITHIN OUTPUT CEILING, SUBROTO SAYS Opec remains within its agreed output\nceiling of 15.8 mln barrels a day, and had expected current\nfluctuations in the spot market of one or two dlrs, Indonesian\nEnergy Minister Subroto said.\n    He told reporters after meeting with President Suharto that\npresent weakness in the spot oil market was the result of\nwarmer weather in the U.S. And Europe which reduced demand for\noil.\n    Prices had also been forced down because refineries were\nusing up old stock, he said.\n    He denied that Opec was exceeding its agreed production\nceiling. Asked what Opec\'s output level was now, he replied:\n\"Below 15.8 (mln barrels per day).\" He did not elaborate.\n    He said there appeared to have been some attempts to\nmanipulate the market, but if all Opec members stick by the\ncartel\'s December pricing agreement it would get through\npresent price difficulties.\n    He predicted that prices would recover again in the third\nand fourth quarters of 1987.\n    He also reiterated that there was no need for an emergency\nOpec meeting.\n    He said Opec had expected to see some fluctuations in the\nspot price. \"We hope the weak price will be overcome, and\npredict the price will be better in the third and fourth\nquarters.\"\n    Refiners, he said, appeared to have used up old stock\ndeliberately to cause slack demand in the market and the price\nto fall. But Opec would get through this period if members\nstuck together.\n REUTER\n&#3;',0
'OFFICIAL INQUIRY SET FOR AUSTRALIAN WHEAT INDUSTRY The government\'s industry aid and\nprotection review body, the Industries Assistance Commission\n(IAC), will hold a 12-month inquiry into the Australian wheat\nindustry, Primary Industry Minister John Kerin said.\n    The IAC has been asked to report on the need for assistance\nto the industry and the nature, duration and extent of any aid,\nhe said in a statement.\n    He said the inquiry will be the first step in setting\nmarketing arrangements to apply after June 30, 1989, when the\nunderwriting and pricing provisions of the 1984 Wheat Marketing\nAct expire.\n    Kerin said the broad-ranging reference would allow a full\nexamination of all aspects of the wheat-marketing system.\n    \"The inquiry will be required to take into account changes\nwhich have taken place in the industry as a result of the\nagricultural policies of major wheat producing countries and\nthe industry\'s capacity to adjust to any recommended changes,\"\nhe said.\n    \"The inquiry is at an important time for the wheat industry,\nas the substantial fall in world prices is likely to trigger\nunderwriting support from the government for the first time,\" he\nsaid.\n    Kerin was referring to the government\'s underwriting of the\nguaranteed minimum price paid to wheatgrowers by the Australian\nWheat Board near the start of the season.\n    The IAC\'s report will be due at the same time as the\nfindings of the current Royal Commission into Grain Storage,\nHandling and Transport, Kerin said.\n    He said the timing of the IAC inquiry would allow its\nfindings and those of the Royal Commission to be considered in\nlater negotiations on wheat-marketing arrangements between the\nfederal and state governments and the industry.\n REUTER\n&#3;',1
'COFFEE TRADERS EXPECT SELLOFF AFTER ICO TALKS FAIL The failure of the International Coffee\nOrganization (ICO) to reach agreement on coffee export quotas\ncould trigger a massive selloff in London coffee futures of at\nleast 100 stg per tonne today, coffee trade sources said.\n    Prices could easily drop to as low as 1.00 dlr or even 80\ncents a lb this year from around 1.25 dlrs now, they said.\n    A special meeting between importing and exporting countries\nended in a deadlock late yesterday after eight days of talks\nover how to set the quotas. No further meeting to discuss\nquotas was set, delegates said.\n    Quotas, the major device used to stabilize prices under the\nInternational Coffee Agreement, were suspended a year ago after\nprices soared following a damaging drought in Brazil.\n    With no propects for quotas in sight, heavy producer\nselling initially and a price war among commercial coffee\nroasting companies will ensue, the trade sources predicted.\n    Lower prices are sure to trickle down to the supermarket\nshelf this spring, coffee dealers said.\n    The U.S. And Brazil, the largest coffee importer and\nexporter respectively, each laid the blame on the other for the\nbreakdown of the talks.\n    Jon Rosenbaum, U.S. Assistant trade representative and\ndelegate to the talks, said in a statement after the council\nadjourned, \"A majority of producers, led by Brazil, were not\nprepared to negotiate a new distribution based on objective\ncriteria.\n    \"We want to insure that countries receive export quotas\nbased on their ability to supply the market, instead of their\npolitical influence in the ICO.\"\n    Brazilian Coffee Institute (IBC) President Jorio Dauster\ncountered, \"Negotiations failed because consumers tried to\ndictate quotas, not negotiate them.\"\n    Previously, quotas were determined by historical amounts\nexported, which gave Brazil a 30 pct share of a global market\nof about 58 mln 60-kilo bags. A majority of producers wanted\nquotas to continue under this basic scheme.\n    But most consumers and a maverick group of eight producers\nproposed carving up the export market on the basis of\nexportable production and stocks, which would reduce Brazil\'s\nshare to 28.8 pct.\n    Consumer delegates said this method would reflect changes\nin many countries\' export capabilities and make coffee more\nreadily available to consumers when they need it.\n    A last-minute attempt by Colombia, the second largest\nexporter, to rescue the talks with a compromise interim\nproposal could not bring the two sides together.\n    Delegates speculated Brazil\'s financial problems,\nillustrated by its recent suspension of interest payments on\nbank debt, have increased political pressure on the country to\nprotect its coffee export earnings.\n    Developing coffee-producing countries that depend heavily\non coffee earnings, particularly some African nations and\nColombia, are likely to be hurt the most by the ICO\'s failure\nto agree quotas, analysts said.\n    The expected drop in prices could result in losses of as\nmuch as three billion dlrs in a year, producer delegates\nforecast.\n    The ICO executive board will meet March 31, but the full\ncouncil is not due to meet again until September, delegates\nsaid.\n REUTER\n&#3;',0
'CRA Ltd 1986 net profit 138.2 mln dlrs vs 87.8 mln\n ',0
'N.Z. QUARTERLY CURRENT ACCOUNT DEFICIT NARROWS New Zealand\'s current account deficit\nfor the quarter ended December 31, 1986 narrowed to 567 mln\ndlrs from 738 mln, revised down from 742 mln, for the September\nquarter and from 733 mln a year earlier, the statistics\ndepartment said.\n    The deficit for the year ended December narrowed to 2.75\nbillion dlrs from 2.91 billion dlrs, revised down from 2.92\nbillion, for the year ended September. The deficit for calendar\n1985 was 2.61 billion.\n    The December quarter showed a 182 mln dlr surplus for\nmerchandise trade, unchanged from the September quarter surplus\nwhich was revised down from 271 mln dlrs. The 1985 December\nquarter showed a 13 mln dlr deficit.\n    Imports for the December 1986 quarter were 2.655 billion\nagainst 2.883 billion in the September quarter and 2.454 a year\nearlier. Exports were 2.837 billion against 3.065 billion and\n2.440 billion.\n    Imports for the year ended December 1986 were 10.74 billion\ndlrs compared with 11.14 billion in 1985. Exports were 11.20\nbillion against 11.36 billion.\n    Government borrowing stood at 9.26 billion dlrs for\ncalendar 1986 against 3.15 billion for 1985. Borrowing in the\nDecember quarter rose to 3.92 billion from 1.79 in the\nSeptember quarter and 611 mln a year earlier.\n    Repayments stood at 5.5 billion for the year, up from 3.1\nbillion in 1985. Repayments in the December quarter accounted\nfor 1.4 billion dlrs against 260 mln in the September quarter\nand 334 mln a year earlier.\n    Official reserves totalled 7.205 billion dlrs at end\nDecember compared with 4.723 billion at end September and 3.255\nbillion one year earlier.\n REUTER\n&#3;',0
'TRANSAMERICA SELLS OCCIDENTAL LIFE AUSTRALIA Equity investment company &lt;Battery\nGroup Ltd> said it had agreed to buy &lt;Occidental Life Insurance\nCo of Australia Ltd> from TransAmerica Corp &lt;TA> of the U.S.\nFor 105 mln Australian dlrs.\n    The acquisition has been made possible by the efforts of\nits major shareholder, &lt;Pratt and Co Financial Services Pty\nLtd>, Battery Group said in a statement.\n    The purchase will be partly funded by the issue of eight\nmln shares at 4.50 dlrs each and four mln free options to the\nPratt Group, controlled by entrepreneur Dick Pratt, plus four\nmln shares to professional investors at 4.50 each, it said.\n    The balance will be funded by debt, Battery Group said.\n    The acquisition is subject to the approval of its\nshareholders.\n    On completion of the share placements, Pratt Group will\neffectively have 51 pct of Battery\'s enlarged capital, assuming\nexercise of all options, it said. Battery now has 22 mln shares\non issue.\n    Battery said Occidental Life is a major underwriter of\nindividual term life insurance and a recent but fast-growing\nentrant in the individual account superannuation market.\n    It has some 200 mln dlrs in funds under management.\n REUTER\n&#3;',0
'CRA LTD &lt;CRAA.S> 1986 NET Net 138.20 mln dlrs vs 87.80 mln.\n    Shr 24.8 cents vs 17.8\n    Final div to announced after July 1, vs final 10 cents\nmaking 15.\n    Sales revenue 4.81 billion vs 4.69 billion\n    Investment income 116.93 mln vs 60.61 mln\n    Shrs 494.35 mln vs 494.22 mln.\n    NOTE - Net is after tax 171.03 mln dlrs vs 188.52 mln,\ninterest 337.39 mln vs 308.68 mln, depreciation 352.32 mln vs\n333.05 mln but before net extraordinary loss 250.28 mln vs\nprofit 28.03 mln.\n REUTER\n\n\n\n&#3;',0
'MALAYSIA RE-IMPOSES EXPORT DUTIES ON RUBBER The Malaysian government said it\nhas re-imposed export duties on rubber at 3/8 cent per kilo\nafter the gazetted price moved above the threshold price of 210\ncents per kilo.\n    The gazetted price, effective March 1, rose to 213-1/2\ncents per kilo from February\'s 207.\n    The duty for research remains at 3.85 cents per kilo and\nthe replanting duty is also unchanged at 9.92 cents.\n REUTER\n&#3;',0
'MALAYSIA RAISES DUTY ON PROCESSED PALM OIL The government said it raised the\nexport duty on processed palm oil (PPO) to 64.06 ringgit per\ntonne from 40.96 ringgit, effective from March 1.\n    Export duty on crude palm oil (CPO) was unchanged at 16.06\nringgit per tonne.\n    The gazetted price of PPO rose to 796.8604 ringgit per\ntonne from 719.8286. That of CPO remained at 617.8238 ringgit.\n    The export duty and gazetted price of palm kernel were left\nunchanged at 191.15 and 955.75 ringgit per tonne respectively.\n REUTER\n&#3;',0
'comalco ltd 1986 net profit 57.1 mln dlrs vs loss 69.1 mln\n ',0
'COMALCO LTD &lt;CMAC.S> 1986 NET Net profit 57.1 mln dlrs vs loss 69.1 mln.\n    Net is equity accounted\n    Pre-equity accounted net 39.90 mln dlrs vs loss 49.11 mln\n    Pre-equity shr profit 7.1 cents vs loss 8.7\n    Final div to be announced after July 1 vs first and final\n1.0 cent.\n    Sales 1.88 billion vs 1.78 billion\n    Other income 52.75 mln vs 15.22 mln\n    Shrs 560.61 mln vs same.\n    NOTE - Net is after tax paid 46.85 mln dlrs vs credit 5.02\nmln, interest 127.68 mln vs 117.19 mln, depreciation 109.29 mln\nvs 100.73 mln and minorities 1.50 mln vs loss 331,000.\n    But net is before net extraordinary loss 140.5 mln vs nil.\nExtraordinaries comprise exchange losses 102.9 mln, provision\nfor Goldendale smelter closure costs 27.3 mln and increase in\nfuture tax provision 10.3 mln.\n REUTER\n&#3;',0
'JAPAN\'S UNEMPLOYMENT RATE SEEN RISING TO 3.5 PCT Japan\'s unemployment rate is expected to\ncontinue to climb to about 3.5 pct within the next year from\nJanuary\'s three pct record, senior economists, including Susumu\nTaketomi of Industrial Bank of Japan, said.\n    December\'s 2.9 pct was the previous worst level since the\ngovernment\'s Management and Coordination Agency began compiling\nstatistics under its current system in 1953.\n    \"There is a general fear that we will become a country with\nhigh unemployment,\" said Takashi Kiuchi, senior economist for\nthe Long-Term Credit Bank of Japan Ltd.\n    The government, which published the January unemployment\nfigures today, did not make any predictions.\n    \"At present we do not have a forecast for the unemployment\nrate this year, but it is difficult to foresee the situation\nimproving,\" a Labour Ministry official said.\n    Finance Minister Kiichi Miyazawa said the government had\nexpected the increase and had set aside money to help 300,000\npeople find jobs in fiscal 1987 beginning in April.\n    Prime Minister Yasuhiro Nakasone told a press conference\nthe record rate underlines the need to pass the 1987 budget\nwhich has been held up by opposition to proposed tax reforms.\n    The yen\'s surge has caused layoffs in the mainstay steel\nand shipbuilding industries. Other export-dependent industries,\nsuch as cars and textiles, have laid off part-time employees\nand ceased hiring, economists said.\n    Although the growing service industry sector has absorbed a\ngreat number of workers the trend is starting to slow down,\nsaid Koichi Tsukihara, Deputy General Manager of Sumitomo Bank\nLtd\'s economics department.\n    However, other economists disagreed, saying the service\nsector would be able to hire workers no longer needed by the\nmanufacturing sector over the next five years.\n    The economists said the service sector should grow as the\ngovernment stimulates domestic demand under its program to\ntransform the economy away from exports.\n    Although Japanese unemployment rates appear lower than\nthose of other industrialised nations, methods for calculating\nstatistics make them difficult to compare, economists warned.\n    \"The three pct figure  could translate into a relatively\nhigh figure if European methods were used,\" one economist said.\nMore than half of January\'s 170,000 increase in jobless from a\nyear earlier were those aged between 15 and 24, Sumitomo\'s\nTsukihara said.\n REUTER\n&#3;',0
'SOUTH KOREAN TRADE SURPLUS NARROWS IN FEBRUARY South Korea\'s customs-cleared trade\nsurplus narrowed to 110 mln dlrs in February from 525 mln in\nJanuary, provisional trade ministry figures show.\n    In February 1986 there was a deficit of 264 mln dlrs.\n    February exports rose to 2.87 billion dlrs, fob, from 2.83\nbillion in January and 2.30 billion in February 1986. CIF\nimports were 2.76 billion against 2.31 billion in January and\n2.57 billion in February last year.\n REUTER\n&#3;',0
'JAPAN MOVES TO TIGHTEN CHIP-EXPORT CURBS The Ministry of International Trade and\nIndustry (MITI) acted to tighten restrictions on microchip\nexports to countries other than the U.S. To preserve a\nU.S.-Japan pact on semiconductor trade, but major Japanese\nchipmakers doubt its usefulness.\n    A MITI spokesman said his ministry had asked chipmakers to\nissue certificates to specified trading houses stating they are\nauthorised exporters.\n    Trading houses applying for a MITI export licence will be\nrequired to show such a certificate, but those without it will\nnot automatically be denied licences, he said.\n    But some industry officials predicted any government\nmeasures were likely to have limited effect as long as the\nworld semiconductor market remained weak.\n    U.S. Government and industry officials have complained\nrepeatedly that Japanese chipmakers continue to sell at below\ncost to third countries despite the July agreement.\n    Japanese firms and officials in turn argue the flow of\ncheap chips to third countries is due to grey-market sales by\nthird-party brokers, who seek to profit from the gap between\nlow prices in Japan and higher prices based on production costs\nand set for Japanese makers under the agreement.\n    The MITI spokesman said, \"If the percentage of grey market\nis increasing for one specific company, it suggests they are\ndistributing their products through their sales network knowing\nthey will be exported by some means. In that case we will ask\nthem what they are doing to reduce the figure.\"\n    MITI earlier asked makers to cut output of certain chips by\n10 pct in first-quarter 1987, spokesmen for the firms said.\n    But they doubt the usefulness of the latest move. \"As long\nas there is a gap between prices set under the pact and market\nprices, there will be people who want to exploit the gap to\nmake money,\" a Hitachi Ltd &lt;HIT.T> spokesman said.\n REUTER\n&#3;',0
'FINNISH UNEMPLOYMENT AT 6.7 PCT IN DECEMBER Finnish unemployment was 6.7 pct in\nDecember last year compared with 6.8 pct in November and 6.1\npct in December 1985, the Central Statistical Office said.\n    It said 173,000 people were unemployed in December 1986,\n174,000 in November and 157,000 in December 1985.\n REUTER\n&#3;',0
'BANKERS SEE SHARP RISE IN THAI FOREIGN RESERVES Thailand\'s improving economy will likely\ncause foreign reserves to increase to at least five billion\ndlrs by end-1987 from a record of nearly 4.2 billion at\nend-February, private bankers said.\n    Bank of Thailand statistics show foreign reserves rose to\n3.95 billion at end-January from 3.03 billion a year earlier.\n    Nimit Nonthapanthawat, chief economist at the &lt;Bangkok Bank\nLtd>, said Thailand\'s strong export performance, its relatively\nhigh interest rates, foreign participation in its stock market,\nand growing foreign investment, especially from Japan,\ncontributed to the projected sharp rise.\n    Thai exports rose 19.4 pct in 1986 and are expected to\nexpand another 15 pct this year, bankers said.\n    A U.S. Embassy report said last month Thailand could\nachieve five pct real gross domestic product growth in 1987, up\nfrom a projection of 3.8 pct for 1986 and 3.7 pct in 1985.\n    Nonthapanthawat said if economic growth continues at its\ncurrent pace and oil prices and major currencies remain stable\nthe five billion 1987 reserves target can easily be reached.\n    Thailand calculates foreign reserves to include gold,\nspecial drawing rights and convertible currencies. The target\nis equivalent to five-and-a-half months\' worth of imports.\n REUTER\n&#3;',0
'SWEDEN HAS CURRENT PAYMENTS SURPLUS IN 1986 Sweden had a 1986 current balance of\npayments surplus of 7.6 billion crowns compared with a deficit\nof 10.1 billion the preceding year, according to preliminary\nfigures from the central bank.\n    The December current account had a 100 mln crowns deficit\nagainst a yearago 200 mln deficit.December trade balance was\n2.3 billion surplus against yearago two billion.\n    The trade balance showed a 1986 surplus of 33.2 billion\ncrowns compared with a 15.8 billion surplus in 1985, the bank\nsaid .\n REUTER\n&#3;',0
'FISONS PLC &lt;FISN.L> YEAR TO END-1986 Shr 27.5p vs 24.3p\n    Div 3.95p vs 3.34p making 6.5p vs 5.5p\n    Pre-tax profit 85.1 mln stg vs 72.3 mln\n    Turnover 702.6 mln vs 646.7 mln\n    Tax 18.4 mln vs 15.2 mln\n    Finance charges 4.1 mln vs 5.4 mln\n    Minority interest 0.1 mln vs 0.5 mln\n    Extraordinary debit, being closure and restructuring costs\n4.9 mln vs 3.7 mln\n    Operating profit includes -\n    Pharmaceutical 49.8 mln vs 39.0 mln\n    Scientific equipment 23.2 mln vs 19.2 mln\n    Horticulture 8.0 mln vs 8.7 mln\n    Note - company said it plans one-for-one capitalisation\n REUTER\n&#3;',0
' MAJOR SWISS BANKS RAISE CUSTOMER TIME DEPOSIT RATES 1/4 POINT TO THREE PCT - CREDIT SUISSE\n ',0
' CORRECTED - MAJOR SWISS BANKS RAISE CUSTOMER TIME DEPOSIT RATES 1/4 POINT TO 3-1/4 PCT - CREDIT SUISSE\n ',0
'PHILIPPINE PLANNING CHIEF URGES PESO DEVALUATION The Philippines must devalue the peso if\nit wants its exports to remain competitive, Economic Planning\nSecretary Solita Monsod told Reuters.\n    \"The peso/dollar rate has to be undercut to make our exports\nmore competitive,\" Monsod said an interview. \"No question about\nit. I\'m saying you cannot argue with success. Taiwan, South\nKorea, West Germany, Japan, all those miracle economies\ndeliberately undervalued their currencies.\"\n    The peso has been free-floating since June 1984. It is\ncurrently at about 20.50 to the U.S. Dollar.\n    Finance Secretary Jaime Ongpin has said the government does\nnot intend to devalue the peso and wants it to be flexible and\nable to continue to respond to market conditions.\n    Monsod said Ongpin was looking at the exchange rate from\nthe point of view of finance. \"If the dollar rate goes higher,\nour debt service in terms of pesos gets higher, so the\nfinancing is very difficult,\" she said. \"But I am looking at it\nin terms of the economy.\"\n    She said she was not trying to oppose official policy.\n    \"I\'m just saying, keep it competitive. I do not want it to\nbecome uncompetitive because then we are dead.\"\n    Monsod said, \"The ideal movement in the peso/dollar rate is\na movement that will reflect differences in inflation (rates)\nof the Philippines versus the other country. It\'s an arithmetic\nthing.\"\n    Official figures show Philippine inflation averaged 0.8 pct\nin calendar 1986. Ongpin told reporters on Saturday it was\nexpected to touch five pct this year.\n    He said the government and the International Monetary Fund\nhad set the peso/dollar 1987 target rate at 20.80.\n    The peso lost 22.2 pct in value to slump to 18.002 to the\ndollar when it was floated in 1984.\n REUTER\n&#3;',0
'U.K. CLEARS CONS GOLD U.S. PURCHASE The U.K. Trade Department said it would\nnot refer Consolidated Goldfields Plc\'s &lt;CGLD.L> purchase of\n&lt;American Aggregates Corp> to the Monopolies Commission.\n    Cons Gold said last month that its &lt;ARC America Corp> unit\nhad agreed to buy the Ohio-based company for 30.625 dlrs a\nshare cash, or 242 mln dlrs, in a deal recommended by the\nAggregates board.\n REUTER\n&#3;',0
'ZAIRE ACCEPTS TIN-EXPORT QUOTA, ATPC SAYS Zaire agreed to limit its tin\nexports to 1,736 tonnes for 12 months from March 1 in line with\nan Association of Tin Producing Countries (ATPC) plan to curb\nexports, the ATPC said.\n    ATPC Executive Director Victor Siaahan told Reuters he\nreceived a telex from Zaire indicating its willingess to take\npart in the plan to limit total ATPC exports to 96,000 tonnes\nfor a year from March 1.\n    Siaahan said Zaire is expected to produce 1,900 tonnes of\ntin in calendar 1987, and that in 1986 its output and exports\nwere about 1,200 tonnes.\n    The ATPC hopes to cut the 70,000-tonne world surplus by\n20,000 tonnes and boost prices.\n    All ATPC members except Zaire and Australia recently agreed\nto adhere to the export quotas allocated them under the plan.\nAustralia said its quota of 7,000 tonnes was roughly equal to\nits expected output this year.\n    The ATPC consists of Malaysia, Indonesia, Thailand,\nBolivia, Australia, Nigeria and Zaire.\n    China and Bolivia, important producers of tin, are not\nmembers.\n REUTER\n&#3;',0
'U.K. MONEY MARKET DEFICIT FORECAST AT 350 MLN STG The Bank of England said it forecast a\nshortage of around 350 mln stg in the money market today.\n    Among the main factors affecting liquidity, bills maturing\nin official hands and the take-up of treasury bills will drain\nsome 525 mln stg while bankers\' balnces below target will take\nout around 175 mln stg.\n    Partly offsetting these outflows, exchequer transactions\nand a fall in note circulation will add some 300 mln stg and 40\nmln stg to the system respectively.\n REUTER\n&#3;',0
'SAUDI RIYAL DEPOSIT RATES EASE Saudi riyal interbank deposit rates\neased across the board in a dull market which was long in\nday-to-day funds, dealers said.\n    Today\'s quiet market continued a lull of several days in\nwhich traders were said to be waiting on the sidelines ahead of\nfurther clues to the direction of oil prices and the Saudi\neconomy.\n    Dealers cited some borrowing interest in two, three, and\nsix-month deposits but said activity focused on short dates and\none-month deposits as banks tried to lend surplus funds.\n    Spot-next was put at 5-3/4, 5-1/4 pct, down from six, 5-1/2\nyesterday while one-week rates were steady at six, 5-1/2 pct.\n    One-month deposits declined to 6-1/4, 1/8 pct from 6-1/2,\n1/4 on Monday, while three months was barely changed at seven,\n6-15/16 pct.\n    The spot riyal was little changed at 3.7501/03 to the\ndollar after quotes of 3.7498/7501 yesterday.\n REUTER\n&#3;',0
'PEMEX SIGNS 500 MLN DLR JAPAN LOAN FOR PIPELINE Mexican state oil firm Petroleos Mexicanos\n(Pemex) signed for a 500 mln dlr&#127;untied loan from the\nExport-Import Bank of Japan to finance its Pacific Petroleum\nProject, Pemex Japan representative Tito Ayal said.\n    No further details on the loan were immediately available.\n    Ayala told an oil seminar the project, due for completion\nin 1988, is aimed at improving distribution of oil products in\nthe domestic market, mainly along the Pacific coast.\n    The project consists of a pipeline linking Nueva Teapa on\nthe Gulf of Mexico with Salina Cruz on the Pacific Coast, and\nconstruction of the second phase of the Salina Cruz refinery.\n    The project also includes construction of liquified\npetroleum gas (LPG) storage tanks at Santa Cruz, additional\ncrude oil storage at both ends of the pipeline, an ammonia\ncomplex at Lazaro Cardenas on the Pacific Coast and expansion\nof the infrastructure of the port of Salina Cruz, Ayala said.\n    Pemex will buy 80 mln dlrs worth of foreign equipment and\nmaterials for the project, he said. The new pipeline will\nenable Japan to load Mexico\'s Maya crude oil at Salina Cruz\nrather than in the Gulf of Mexico. Pemex will also have some\nLPG surplus available in Salina Cruz that may help Japan\ndiversify its supply sources of that product, he added.\n REUTER\n&#3;',0
'STC PLC &lt;STCL.L> YEAR TO END-1986 Shr profit 15.9p vs 2.25p loss\n    Div 3p making 4.5p vs nil\n    Turnover 1.93 billion stg vs 1.99 billion\n    Pretax profit 134.2 mln vs 11.4 mln loss\n    Tax 47.2 mln vs nil\n    Operating profit 163.0 mln vs 92.7 mln\n    Interest less investment income 13.8 mln vs 37.2 mln\n    Exceptional debit 15.0 mln vs 66.9 mln\n    Minorities 0.3 mln vs 0.4 mln\n    Extraordinary credit 16.4 mln vs 42.0 mln debit\n    Operating profit includes -\n    International computers 90.2 mln vs 61.7 mln\n    Communications systems 56.1 mln vs 48.7 mln\n    Components and distribution 20.0 mln vs 1.5 mln\n    Defence 9.4 mln vs 13.1 mln\n REUTER\n&#3;',0
'COMALCO SAYS LOWER COSTS HELPED RETURN TO PROFITS Comalco Ltd &lt;CMAC.S> said its return\nto profit reflected reduced costs, improved primary aluminium\nprices and its withdrawal from a Japanese smelter venture.\n    It said the earlier reported 57.1 mln dlr profit for the\nyear ended December 31 against a 69.13 mln dlr loss in 1985 was\nalso aided by lower interest rates on U.S. Dollar debt and\ngreater sales of bauxite and aluminium.\n    Comalco said it expected to pay at least a four cents per\nshare final, dividend delayed until July 1 to take advantage of\nproposed dividend imputation laws.\n    This would make five cents for the year against a first and\nfinal of one cent in 1985.\n    Comalco said the aluminium industry continued to suffer\nfrom low prices and excess capacity, though the weak Australian\ndollar had helped earnings.\n    Withdrawal from the &lt;Showa Aluminium Industries KK> joint\nventure had been recapitalised in expansion by the &lt;New Zealand\nAluminium Smelters Ltd> project with Japan\'s &lt;Sumitomo\nAluminium Smelting Co Ltd>, permitting repayments and increases\nin liquid funds totalling 165 mln dlrs, it said.\n    As previously reported Comalco\'s &lt;Commonwealth Aluminium\nCorp> unit has conditionally agreed to sell its smelter at\nGoldendale, Washington, and port facilities at Portland, Oregon\nto &lt;Columbia Aluminium Corp>.\n    Comalco said it had made a 27.3 mln dlr extraordinary\nprovision for Goldendale losses and closure costs but that if\nthe sales agreement were completed it would reduce the\nprovision made in the 1986 accounts.\n    The other items in the total extraordinary loss of 140.5\nmln dlrs were a 102.9 mln write-off of unrealised exchange\nlosses and 10.3 mln for an increase in future tax provision.\n REUTER\n&#3;',0
'CRA EXPECTS TO PAY FINAL DIVIDEND OF 10 CENTS CRA Ltd &lt;CRAA.S> said it expected to\npay a final 1986 dividend of not less than 10 cents a share\nafter July 1, making 13 cents for&#127;the year against 15 in 1985.\n    The mining and smelting group earlier reported 1986 net\nearnings rose to 138.2 mln dlrs from 87.8 mln in 1985, against\nanalysts\' forecasts yesterday of 125 mln to&#127;160 mln.\n    CRA said it was deferring consideration of a dividend until\nlater this year to provide the benefit of dividend imputation\nto its shareholders. After July 1, dividends will be tax-free\nto shareholders provided they come out of earnings on which the\nfull 49 pct company tax rate has been p&#127;id.\n    The company operates on a substituted tax year, not the\nfiscal year ending June 30, and as a result has incurred tax at\nthe 49 pct rate on 1986 earnings, CRA said in a statement.\n    Consequently, it has funds available for distribution with\ndividend imputed but is waiting to see the imputation\nlegislation before determining the final payout, it said.\n    Despite the higher net earnings, CRA said 1986 was a poor\nyear for the minerals industry, with the notable exception of\ngold producers.\n    Prices for major metals expressed in real U.S. Dollars\ndeclined to the lowest levels in about 50 years, it said.\n    Fluctuating exchange and interest rates added volatility\nand uncertainty, while the revaluation of the yen is leading to\nsubstantial restructuring of Japanese industry, CRA said.\n    World demand for metals is growing slowly. Inventories have\nsteadily declined, with supply and demand in better balance,\nbut overcapacity continues, CRA said.\n    Turning to contributions to its earnings, CRA said\nBougainville Copper Ltd &lt;BUVA.S> contributed 31.3 mln dlrs\nwhile its share of Comalco Ltd\'s &lt;CMAC.S> net was 37.8 mln.\n    Net earnings from iron-ore operations were 111.8 mln dlrs\nagainst 149.2 mln in 1985, it said.\n    Lead, zinc and silver mining and smelting operations\nincurred a net loss of 66.8 mln dlrs against a 38.1 mln loss in\n1985, CRA said.\n    Coal activities resulted in a net profit of 36.7 mln dlrs\nagainst 34.1 mln, while salt raised its contribution to 4.7 mln\nfrom 2.8 mln.\n    CRA\'s share of earnings from the Argyle diamond project\namounted to 12.0 mln dlrs against nine mln in 1985.\n    CRA said the main item in its 250.28 mln dlr extraordinary\nloss was a 172.9 mln writeoff of unrealised foreign exchange\nlosses on borrowings as required by a new accounting standard.\n    Other extraordinary items were 63.3 mln dlrs provided for\nclosures and writedown of assets and a 14.1 mln increase in\nfuture tax provisions, CRA said.\n    Cash flow continued at a high level, being 950.6 mln dlrs\nbefore capital expenditure against 1.02 billion in 1985. The\nstrong cash flow, coupled with the proceeds of the 1986 rights\nissue and the use of existing cash balances, enabled group debt\nto be reduced by nearly 500 mln dlrs.\n    CRA said it held forward contracts at year-end to buy 985\nmln U.S. Dlrs to hedge part of its foreign debt. This cost 47.0\nmln dlrs after tax, included in the net interest cost.\n REUTER\n&#3;',0
'SWISS CAPITAL EXPORTS RISE IN JANUARY Swiss capital exports rose to 4.64\nbillion francs in January after 2.54 billion in December and a\nyear earlier 3.64 billion, the Swiss National Bank said.\n    New bond issues accounted for 4.12 billion of the total\nafter December\'s 2.15 billion, and credits 525.1 mln after\n389.9 mln.\n    In January 1985, before the National Bank ended the\ndistinction between notes and bonds, bond issues totalled 1.66\nbillion francs, notes 1.39 billion and credits 597.5 mln.\n REUTER\n&#3;',0
'CHINA CALLS FOR BETTER TRADE DEAL WITH U.S. China called on the United States to\nremove curbs on its exports, to give it favourable trading\nstatus and ease restrictions on exports of high technology.\n    But the U.S. Embassy replied that Chinese figures showing\n13 years of trade deficits with the U.S. Out of the last 15 are\ninaccurate and said Peking itself would have to persuade\nCongress to change laws which limit its exports.\n     The official International Business newspaper today\npublished China\'s demands in a  editorial to coincide with the\nvisit of U.S. Secretary of State George Shultz.\n     \"It is extremely important that the U.S. Market reduce its\nrestrictions on Chinese imports, provide the needed facilities\nfor them and businessmen from both sides help to expand Chinese\nexports,\" the editorial said.\n     \"The U.S. Should quickly discard its prejudice against\nfavourable tariff treatment for Chinese goods and admit China\ninto the Generalised System of Preference (GSP).\n     \"Despite easing of curbs on U.S. Technology exports in\nrecent years, control of them is still extremely strict and\ninfluences normal trade between the two countries,\" it added\n     The paper also printed an article by China\'s commercial\ncounsellor in its Washington embassy, Chen Shibiao, who said\nthat \"all kinds of difficulties and restrictions\" were preventing\nbilateral trade fulfilling its full potential.\n     He named them as U.S. Protectionist behaviour, curbs on\ntechnology transfer and out-of-date trade legislation.\n     The paper also printed a table showing that, since\nbilateral trade began in 1972, China has had a deficit every\nyear except 1972 and 1977. It shows the 1986 and 1985 deficits\nat 2.09 billion and 1.722 billion dlrs.\n     A U.S. Embassy official said the U.S. Did not accept\nPeking\'s trade figures at all, mainly because they exclude\ngoods shipped to Hong Kong and then trans-shipped to U.S. While\nU.S. Figures are based on country of origin.\n     He said that, if China wants to obtain GSP status, it will\nhave to lobby Congress itself to persaude it to amend several\nlaws which currently prevent Peking getting such status.\n     The U.S. Trade Act of 1974 says that to qualify for GSP,\nChina must be a member of the General Agreement of Tariffs and\nTrade (GATT), for which it applied in July 1986, and \"not be\ndominated or controlled by international Communism.\"\n     The official said China was well aware of the laws, some\nof which date to the anti-Communist early 1950\'s, but that\nthere is not sufficient political will in the U.S. To change\nthem.\n     China has been the subject of about a dozen cases\ninvolving anti-dumping in the U.S. Within the last two years,\nwhich the U.S. Side won, he said.\n     But, for the first time, China signed last week an\nagreement which it itself initiated to voluntarily restrain\nexports of at least two categories of steel goods, which may\nlead the U.S. Side to withdraw the anti-dumping case, he added.\n     Another diplomat said willingness to provide such\nvoluntary export restraints would be an important issue in\nbilateral trade issues and in Peking\'s application to GATT.\n     \"China has the potential to disrupt world markets,\nespecially in textiles. Other GATT countries will be nervous\nabout China in this respect. But there is a precedent for other\ncentralled planned economies in GATT,\" the diplomat said.\n     Poland, Czechoslovakia, Hungary and Romania are members of\nGATT but none has China\'s massive market potential for imports\nor its vast labour pool to produce cheap exports.\n     In a speech today in the northeast city of Dalian, U.S.\nSecretary of State George Shultz said his country welcomed\nChina\'s interest in participating in GATT.\n     \"The process of Chinese accession will not be accomplished\novernight -- the GATT rules were not designed for a large\neconomy of the Chinese type,\" Shultz said.\n     \"China can play an important role by actively joining GATT\ndiscussions seeking to expand general trading opportunities and\nenhance market access for exports worldwide. China can further\ndevelop its foreign trade system so as to gain the maximum\nbenefit from its GATT participation,\" he said.\n     The problems facing U.S.-China trade and GATT membership\nare similar -- a pricing system which many foreign businessmen\nregard as arbitrary and not related to actual costs, especially\nfor exports, and a de facto dual currency system.\n     In a memorandum backing its application presented to GATT\nlast month, China said it was gradually reforming its economic\nsystem and replacing mandatory instruction with \"guidance\nplanning\" and economic levers.\n     The diplomat said that, to join GATT, China had much to\ndo.\n REUTER\n&#3;',0
'NO BUNDESBANK POLICY CHANGES EXPECTED THURSDAY The Bundesbank is unlikely to change\nits credit policies at its central bank council meeting on\nThursday, as exchange rates and short-term interest rates have\nstabilized over the past few weeks, money market dealers said.\n    Attention in the money market is focused on tomorrow\'s\ntender for a securities repurchase pact, from which funds will\nbe credited on Thursday, when an earlier pact expires, draining\n16 billion marks from the system.\n    The tender was announced last Friday, because carnival\nfestivities closed banks in Duesseldorf yesterday, and will\nclose banks here this afternoon.\n    Because of the disruption to business from carnival,\nminimum reserve figures for the start of the month are\nunrealistic, making it difficult for banks to assess their\nneeds at the tender.\n    Dealers said the Bundesbank would want to inject enough\nliquidity in this week\'s pact to keep short-term rates down.\n    But because of uncertainty about banks\' current holdings,\nthe Bundesbank may well allocate less than 16 billion marks\nthis week, and top it up if necessary at next week\'s tender.\n    \"I would not be surprised if the Bundesbank cuts the amount\na little, to say 14 or 15 billion marks,\" one dealer said.\n    \"They would then stock it up at the next tender when the\nneed is clearer,\" he added.\n    An earlier pact expires next week, draining 8.5 billion\nmarks from the system. Banks also face a heavy but temporary\ndrain this month from a major tax deadline for customers.\n    Banks held 52.0 billion marks on February 27 at the\nBundesbank, averaging 51.0 billion over the whole month, just\nclear of the 50.5 billion February reserve requirement.\n    Call money traded today at 3.85/95 pct, up from 3.80/90\nyesterday.\n REUTER\n&#3;',0
'ITALY CONSUMER PRICES RISE 0.4 PCT IN FEBRUARY Italy\'s consumer price index rose 0.4 pct\nin February compared with January after rising 0.6 pct in\nJanuary over December, the national statistics institute\n(Istat) said.\n    The year-on-year rise in February was 4.2 pct down from 4.5\npct in January and compared with 7.6 pct in February 1986.\n    Istat said its consumer prices index for the families of\nworkers and employees (base 1985) was 109.1 in February against\n108.7 in January and 104.7 in February 1986.\n REUTER\n&#3;',0
'MOBIL PLAN TO OPEN PEKING OFFICE, CHINA DAILY SAYS Mobil Corp &lt;MOB.N> of the U.S. Plans to\nopen an office in Peking to develop oil exploration\nopportunities in China, the China Daily said.\n    It quoted Mobil president Richard Tucker, currently in\nPeking, as saying he is optimistic about investment prospects\nin China and that Peking will continue to encourage foreign\nprivate businesses to invest here.\n    It said Mobil bought 73 mln dlrs of crude oil and oil\nproducts from China in 1986 and sold it lubricant and\nfertiliser, but gave no more details.\n REUTER\n&#3;',0
'KLM TO TAKE 15 PCT STAKE IN AIR UK KLM Royal Dutch Airlines &lt;KLM.A> said\nit agreed to take a 15 pct stake in Air U.K. Ltd, a subsidiary\nof British and Commonwealth Shipping Plc &lt;BCOM.L>, in a\ntransaction worth around two mln stg.\n   A KLM spokesman said KLM already cooperated closely with Air\nUK, which runs 111 flights a week to Amsterdam\'s Schipol\nairport from nine UK cities.\n   British and Commonwealth Shipping said last week it held\npreliminary talks about a KLM minority stake in Air U.K. But\ngave no further details. KLM said it hoped the move would\nattract more British feeder traffic to Amsterdam Airport.\n REUTER\n&#3;',0
' &#2;\nZIMBABWE MAIZE HARVEST LOWER AFTER BUMPER CROPS HARARE, March 3\n- Zimbabwe\'s maize crop in 1986/87 (April/ March) is likely to\nbe slightly over 1.6 mln tonnes, against 1.83 mln in 1985/86,\nGrain Marketing Board figures show.\n    Maize exports for 1986/87 to January 31, 1987 totalled\n315,000 tonnes, with about a further 40,000 tonnes expected to\nbe exported in February and March, against 285,000 tonnes in\n1985/86. Domestic usage is estimated at 650,000-900,000 tonnes,\ndepending on how other crops are affected by current poor\nrains. Last year\'s consumption was around 700,000 tonnes.\n    Zimbabwe has around two mln stonnes of surplus maize in\nstorage, accumulated after two years of bumper harvests.\n REUTER\n&#3;\n\n',1
'U.K. RESERVES SHOW UNDERLYING RISE IN FEBRUARY Britain\'s gold and currency reserves\nshowed an underlying rise of 287 mln dlrs in February, after a\n72 mln dlrs rise in January, the Treasury said.\n    The underlying trend, which is a guide to Bank of England\noperations to support the pound on foreign exchanges, is net of\nborrowings and repayments.\n    This was above market expectations for a 100 mln dlrs rise.\n    The Treasury said the Bank of England used the opportunity\nof strong demand to rebuild reserves after losses last autumn\nand said the underlying rise was still relatively modest.\n    Actual reserves rose by 305 mln dlrs in February to 22.26\nbillion dlrs, after rising 29 mln in January to 21.95 billion.\n    Accruals of borrowings under the exchange cover scheme were\n36 mln dlrs last month, after 163 mln in January, while\nrepayments were 16 mln dlrs after the previous 151 mln, a\nTreasury spokesman said.\n    Capital repayments totalled two mln dlrs. In January,\ncapital repayments totalled 14 mln dlrs, with a valuation\nchange that resulted in a fall of 41 mln dlrs due to the\nquarterly rollover from the European Monetary Cooperation Fund\nswap.\n    The Treasury would not comment on the Bank of England\'s\nmarket operations, but currency traders reported moderate Bank\nof England intervention to curb upward pressure on the pound\ntoday.\n    A Treasury spokesman, commenting on the reserves figures,\nsaid that the government does not want sterling either to rise\ntoo far or to fall substantially from current levels.\n    He noted that the Chancellor of the Exchequer Nigel Lawson\nstressed this after the recent Paris currencies meeting.\n    REUTER\n&#3;',0
'COMALCO SAYS LOWER COSTS HELP RETURN TO PROFITS Comalco Ltd said its return to profit\nreflected reduced costs, improved primary aluminium prices and\nits withdrawal from a Japanese smelter venture.\n    It said the earlier reported 57.1 mln dlr profit for the\nyear ended December 31 against a 69.13 mln dlr loss in 1985 was\nalso aided by lower interest rates on U.S. Dollar debt and\ngreater sales of bauxite and aluminium.\n    Comalco said it expected to pay at least a four cents per\nshare final dividend, delayed until July 1 to take advantage of\nproposed dividend imputation laws.\n    This would make five cents for the year against a first and\nfinal of one cent in 1985.\n    Comalco said the aluminium industry continues to suffer\nfrom low prices and excess capacity, though the weak Australian\ndollar had helped earnings.\n    Comalco\'s Commonwealth Aluminium Corp unit said earlier it\nhas conditionally agreed to sell its Goldendale smelter in\nWashington, and port facilities at Portland, Oregon to Columbia\nAluminium Corp. Comalco said its extraordinary provision of\n27.3 mln dlrs costs for Goldendale losses and closure may be\nreduced if the sales agreement were completed.\n REUTER\n&#3;',0
'ULTRAMAR SELLS U.K. MARKETING UNITS FOR 50 MLN STG Ultramar Plc &lt;UMAR.L> said it had reached\nagreement in principle to sell its wholly owned U.K. Marketing\ncompanies to Kuwait Petroleum Corp for around 50 mln stg.\n    Ultramar\'s marketing units include &lt;Ultramar Golden Eagle\nLtd> which in 1985 made a profit of around 1.4 mln stg before\nfinancing and group administration charges. A small loss was\nrecorded for the first nine months of 1986.\n    The sale is due to take place on April 1 with the proceeds\nintended to reduce group debt in the short term. But Ultramar\nsaid the funds would ultimately be used for further development\nof its core businesses in the U.K. And North America.\n REUTER\n&#3;',0
'HONG KONG M3 RISES 2.2 PCT IN JANUARY Hong Kong\'s broadly defined M3 money\nsupply rose 2.2 pct to 607.17 billion H.K. Dlrs in January,\nafter a 3.1 pct rise in December, for a year-on-year rise of\n23.3 pct, the government said in a statement.\n    Local currency M3 rose 3.6 pct to 280.36 billion dlrs from\nDecember when it was up 3.4 pct from November, for a rise of\n16.3 pct on the year.\n    Total M2 rose 3.3 pct to 535.26 billion dlrs in January\nfrom December when it rose 3.5 pct on the previous month. Local\nM2 rose 4.7 pct to 249.03 billion dlrs in January from December\nwhen it climbed 4.2 pct.\n    Total M2 and local M2 rose 32.5 pct and 23.9 pct on the\nyear-ago month, respectively.\n    Total M1 rose 12 pct to 62.84 billion dlrs in January after\na 5.0 pct rise the previous month. Local M1 rose 12.3 pct to\n57.97 billion dlrs after a 6.2 pct rise. Total M1 and local M1\nyear-on-year growth was 32.5 and 32.6 pct, respectively.\n    Total loans and advances rose 3.3 pct to 517.19 billion\ndlrs from December when they rose 1.2 pct.\n    Loans for financing Hong Kong\'s visible trade rose 3.4 pct\nto 36.72 billion dlrs after a 1.8 pct rise in December.\n REUTER\n&#3;',0
'WOOLWORTH, UNDERWOODS FAIL TO AGREE ON BID &lt;Underwoods Plc> said it had not been\npossible to agree terms on a bid to be made by Woolworth\nHoldings Plc &lt;WLUK.L> during talks.\n    The two companies had been holding exploratory discussions.\nNo spokesman for either company was immediately available to\nsay why terms could not be agreed, nor whether the possibility\nof a bid was now being abandoned.\n    Last week, Underwoods shares rose 49p to 237p ahead of any\nannouncement of the talks. The announcement today brought them\nback down to 214p from last night\'s close at 241p. Woolworth\nwas unchanged at 758p.\n REUTER\n&#3;',0
'NO BUNDESBANK POLICY CHANGES EXPECTED THURSDAY The Bundesbank is unlikely to change\nits credit policies at its central bank council meeting on\nThursday, as exchange rates and short-term interest rates have\nstabilized over the past few weeks, money market dealers said.\n    Attention in the money market is focused on tomorrow\'s\ntender for a securities repurchase pact, from which funds will\nbe credited on Thursday, when an earlier pact expires, draining\n16 billion marks from the system.\n    The tender was announced last Friday, because carnival\nfestivities closed banks in Duesseldorf yesterday, and will\nclose banks here this afternoon.\n    Because of the disruption to business from carnival,\nminimum reserve figures for the start of the month are\nunrealistic, making it difficult for banks to assess their\nneeds at the tender.\n    Dealers said the Bundesbank would want to inject enough\nliquidity in this week\'s pact to keep short-term rates down.\n    But because of uncertainty about banks\' current holdings,\nthe Bundesbank may well allocate less than 16 billion marks\nthis week, and top it up if necessary at next week\'s tender.\n    \"I would not be surprised if the Bundesbank cuts the amount\na little, to say 14 or 15 billion marks,\" one dealer said.\n    \"They would then stock it up at the next tender when the\nneed is clearer,\" he added.\n    An earlier pact expires next week, draining 8.5 billion\nmarks from the system. Banks also face a heavy but temporary\ndrain this month from a major tax deadline for customers.\n    Banks held 52.0 billion marks on February 27 at the\nBundesbank, averaging 51.0 billion over the whole month, just\nclear of the 50.5 billion February reserve requirement.\n    Call money traded today at 3.85/95 pct, up from 3.80/90\nyesterday.\n REUTER\n&#3;',0
'U.K. MONEY MARKET SHORTAGE FORECAST REVISED UP The Bank of England said it revised up\nits forecast of the shortage in the money market today to\naround 500 mln stg from its initial estimate of 350 mln.\n REUTER\n&#3;',0
'PAKISTAN TO RETENDER FOR RBD PALM OIL TOMORROW Pakistan will retender for 6,000 tonnes\nof refined bleached deodorised palm oil for second half March\nshipment tomorrow, after failing to take up offers today, palm\noil traders said.\n REUTER\n&#3;',0
'MOBIL PLANS TO OPEN OFFICE IN PEKING Mobil Oil Corp of U.S. Plans to open an\noffice in Peking to develop oil exploration opportunities in\nChina, the China Daily said.\n     It quoted Mobil president Richard Tucker, currently in\nPeking, as saying he is optimistic about investment prospects\nin China and that Peking will continue to encourage foreign\nprivate businesses to invest here.\n     It said Mobil bought 73 mln dlrs of crude oil and oil\nproducts from China in 1986 and sold it lubricant and\nfertiliser, but gave no more details.\n Reuter\n&#3;',0
'Unilever Plc and Nv combined 1986 pre-tax profit 1.14 billion stg vs 953 mln.\n ',0
'OPEC WITHIN OUTPUT CEILING, SUBROTO SAYS Opec remains within its agreed output\nceiling of 15.8 mln barrels a day, and had expected current\nfluctuations in the spot market of one or two dlrs, Indonesian\nEnergy Minister Subroto said.\n    He told reporters after meeting with President Suharto that\npresent weakness in the spot oil market was the result of\nwarmer weather in the U.S. And Europe which reduced demand for\noil.\n    Prices had also been forced down because refineries were\nusing up old stock, he said.\n    He denied that Opec was exceeding its agreed production\nceiling. Asked what Opec\'s output level was now, he replied:\n\"Below 15.8 (mln barrels per day).\" He did not elaborate.\n    He said there appeared to have been some attempts to\nmanipulate the market, but if all Opec members stick by the\ncartel\'s December pricing agreement it would get through\npresent price difficulties.\n    He predicted that prices would recover again in the third\nand fourth quarters of 1987.\n    He also reiterated that there was no need for an emergency\nOpec meeting.\n    He said Opec had expected to see some fluctuations in the\nspot price. \"We hope the weak price will be overcome, and\npredict the price will be better in the third and fourth\nquarters.\"\n    Refiners, he said, appeared to have used up old stock\ndeliberately to cause slack demand in the market and the price\nto fall. But Opec would get through this period if members\nstuck together.\n REUTER\n&#3;',0
'U.K. MONEY MARKET GIVEN 24 MLN STG ASSISTANCE The Bank of England said it provided 24\nmln stg help to the money market in the morning session.\n    This compares with the bank\'s upward revised shortage\nforecast of around 500 mln stg.\n    The central bank purchased bank bills outright comprising\ntwo mln stg in band one at 10-7/8 pct and 22 mln stg in band\ntwo at 10-13/16 pct.\n REUTER\n&#3;',0
'JAPAN\'S UNEMPLOYMENT RATE SEEN RISING TO 3.5 PCT Japan\'s unemployment rate is expected to\ncontinue to climb to about 3.5 pct within the next year from\nJanuary\'s three pct record, senior economists, including Susumu\nTaketomi of Industrial Bank of Japan, said.\n    December\'s 2.9 pct was the previous worst level since the\ngovernment\'s Management and Coordination Agency began compiling\nstatistics under its current system in 1953.\n    \"There is a general fear that we will become a country with\nhigh unemployment,\" said Takashi Kiuchi, senior economist for\nthe Long-Term Credit Bank of Japan Ltd.\n    The government, which published the January unemployment\nfigures today, did not make any predictions.\n    \"At present we do not have a forecast for the unemployment\nrate this year, but it is difficult to foresee the situation\nimproving,\" a Labour Ministry official said.\n    Finance Minister Kiichi Miyazawa said the government had\nexpected the increase and had set aside money to help 300,000\npeople find jobs in fiscal 1987 beginning in April.\n    Prime Minister Yasuhiro Nakasone told a press conference\nthe record rate underlines the need to pass the 1987 budget\nwhich has been held up by opposition to proposed tax reforms.\n    The yen\'s surge has caused layoffs in the mainstay steel\nand shipbuilding industries. Other export-dependent industries,\nsuch as cars and textiles, have laid off part-time employees\nand ceased hiring, economists said.\n    Although the growing service industry sector has absorbed a\ngreat number of workers the trend is starting to slow down,\nsaid Koichi Tsukihara, Deputy General Manager of Sumitomo Bank\nLtd\'s economics department.\n    However, other economists disagreed, saying the service\nsector would be able to hire workers no longer needed by the\nmanufacturing sector over the next five years.\n Reuter\n&#3;',0
' &#2;\nUNILEVER PLC AND NV 1986 4TH QTR TO DEC 31\n    LONDON, March 3\n    Unilever Plc share 49.57p vs 44.19p, making 177.55p vs\n137.96p for full year.\n    Unilever NV share 10.69 guilders vs 11.82 guilders, making\n38.22 guilders vs 36.79 guilders.\n    Unilever Plc final div 35.18p, making 50.17p vs 38.62p.\n    Unilever NV final div 10.67 guilders, making 15.33 guilders\nvs 14.82 guilders.\n    Combined pre-tax profit 276 mln stg vs same, making 1.14\nbillion stg vs 953 mln.\n    The two companies proposed a five for one share split.\n    Combined fourth quarter pre-tax profit 1.10 billion\nguilders vs 1.11 billion, making 3.69 billion guilders vs 3.81\nbillion.\n    Operating profit 259 mln stg vs 265 mln, making 1.12\nbillion stg vs 949 mln.\n    Tax 109 mln stg vs 105 mln, making 468 mln vs 394 mln. Tax\nadjustments 19 mln stg credit vs nil, making 26 mln stg credit\nvs three mln debit.\n    Attributable profit 185 mln stg vs 165 mln, making 664 mln\nvs 516 mln.\n    Full year 1986 turnover 17.14 billion stg vs 16.69 billion.\n REUTER\n&#3;\n\n',0
'HK HOTELS SOARS ON TAKEOVER SPECULATION The price of Hongkong and Shanghai\nHotels Ltd &lt;SHLH.HK>\'s stock soared on speculation of a\ntakeover battle between major shareholders the Kadoorie family\nand the Evergo Industrial Enterprise Ltd &lt;EVGH.HK> group, stock\nbrokers said.\n    They noted heavy buying in Hk Hotel shares after an\nannouncement by Evergo\'s &lt;China Entertainment and Land\nInvestment Co Ltd> unit that it bought about 20 pct of Hk\nHotels from the firm\'s deputy chairman David Liang for 1.06\nbillion dlrs. The stock rose 12 H.K. Dlrs to 62 dlrs today.\n    Thomas Lau, Evergo\'s executive director, declined comment\non whether the group is seeking a further stake in Hk Hotels.\nBut he told Reuters the group will hold the 20 pct stake bought\nfrom Liang as long term investment.\n    He said Evergo \"was attracted by the underlying strength of\nHk Hotels.\"\n    Analysts said Evergo may be looking for a possible\nredevelopment of the Peninsula Hotel, one of Asia\'s best known\nhotels, and another site on Hong Kong island. Both are owned by\nHk Hotels.\n    &lt;Lai Sun Garment Co ltd> yesterday said it acquired a 10\npct stake in Hk Hotels from Liang for 530 mln dlrs.\n    Lau denied any link between China Entertainment and Lai Sun\non their acquisitions of the Hk Hotels stake.\n    \"It is purely coincidence,\" he said.\n    But analysts were not so certain, saying that the Evergo\ngroup, which has a reputation as a corporate raider, may team\nup with Lai Sun Garment for a takeover.\n    Lau also denied any contact with the Kadoorie family, which\nanalysts estimate has more than 20 pct of Hk Hotels. Michael\nKadoorie is chairman of Hk Hotels.\n    Lau said two representatives of Evergo will be nominated to\nthe Hk Hotels board.\n    A source close to the Kadoorie family said the family has\nnot considered any countermoves so far.\n    Analysts said it would be difficult for Evergo and the\nKadoorie family to cooperate because of different management\nstyles.\n    \"Evergo may want to split up the hotel management and\nproperty developments of Hk Hotels but that strategy may not\nfit the conservative Kadoorie family,\" said an analyst who asked\nnot to be named.\n    Another analyst noted the price of Hk Hotels had been\ndistorted by the takeover talks because its net asset value is\nonly worth about 50 dlrs a share. The offers by Evergo and Lai\nSun were for 53 dlrs a share, though that is well below the\ncurrent trading price.\n    Trading was suspended today in shares of Lai Sun, Evergo,\nChina Entertainment and the group\'s associate &lt;Chinese Estates\nLtd>.\n    Chinese Estates lost 25 cents to 20.15 dlrs yesterday,\nChina Entertainment five to 8.60 dlrs and Evergo one to 74\ncents. Lai Sun gained 50 cents to 70.50 dlrs.\n REUTER\n&#3;',0
'BRYSON PAYS 5.4 MLN DLRS FOR CENERGY CORP STAKE &lt;Bryson Oil and Gas Plc> said it paid a\ncash consideration of around 5.4 mln dlrs for about 8.6 pct of\n&lt;Cenergy Corp>, a U.S. Oil and gas exploration and production\ncompany.\n    Bryson said its board has been considering a number of\npossible investments to expand the company\'s interests and\nbelieves the opportunity to acquire an investment in Cenergy\nprovides a suitable extension to its existing U.S. Interests.\n    Cenergy reported a net loss of 7.27 mln dlrs in the nine\nmonths to September 30, 1986 while total stockholders equity on\nthe same date was 40.72 mln dlrs.\n REUTER\n&#3;',0
'ASHTON-TATE &lt;TATE> 4TH QTR NET Shr 43 cts vs 30 cts\n    Net 10.6 mln vs 5,967,000\n    Revs 62.9 mln vs 41.5 mln\n    Avg shrs 200.7 mln vs 20.2 mln\n    Year\n    Shr 1.26 dlrs vs 85 cts\n    Net 30.1 mln vs 16.6 mln\n    Revs 210.8 mln vs 121.6 mln\n    Avg shrs 23.9 mln vs 19.4 mln\n    NOTE: Share adjusted for January 1987 two-for-one split.\n Reuter\n&#3;',0
'NEITHER SIDE OPTIMISTIC ON ROTTERDAM PORT ISSUES Employers and the port union, FNV, are\nto meet again this afternoon to attempt a settlement of the\nsix-week-old dispute in Rotterdam\'s general cargo sector, but\nneither side is optimistic, spokesmen for both sides told\nReuters.\n    Little progress was made in last night\'s three hours of\ntalks, with both sides largely reiterating their positions.\n    \"There is still a very large gap between the employers and\nthe FNV, and I can\'t say that we expect to reach any agreement.\nBut at least we are still talking,\" a union spokesman said.\n    Employers organization chairman, Jacques Schoufour, accused\nthe FNV of intransigence in refusing to alter its stance at all\nover the past two months.\n    \"The FNV is not serious about our discussions and I am\nreally not optimistic about it changing its point of view at\nall.\"\n    \"If we find this afternoon that the FNV still refuses to\naccept the necessary redundancies in the general cargo sector,\nthen we will break off the talks and the redundancies may begin\nlater this month,\" Schoufour said.\n    The series of strikes, which employers say has cost them\nmore than seven mln guilders in lost import business in the\npast six weeks, began on January 19 in protest at plans for 800\nredundancies from the sector\'s 4,000 workforce starting with\n350 this year.\n    Late last month Social Affairs minister Louw de Graaf said\nunless the dispute was settled by yesterday he would withdraw\nthe sector\'s 10 mln guilder annual labour subsidy.\n    Both sides wrote to the minister yesterday setting out\ntheir cases, but Schoufour said he did not expect to hear from\nhim before Wednesday at the earliest.\n Reuter\n&#3;',0
'UNILEVER IMPROVES IN MOST SECTORS DURING 1986 The Unilever Plc and NV &lt;UN.A> group saw\nimproved performance in almost all sectors during 1986, the\nAnglo-Dutch group said in its results statement.\n    Very good progress was made last year, while the recent\nacquisition of Chesebrough-Pond\'s Inc &lt;CBM.N> was a significant\naddition which will greatly benefit the group in the years to\ncome.\n    Earlier, Unilever reported combined fourth quarter pre-tax\nprofit of 276 mln stg, level with the year earlier period,\nmaking 1.14 billion stg compared with 953 mln for the 1986 full\nyear.\n    Unilever said it plans to change its depreciation policy to\nthe more conventional practice of depreciating assets\nindividually rather than depreciating fixed assets at average\nrates. The new method is expected to lead to a reduction in the\naccumulated provision for depreciation and thereby increase the\nnet book value of tangible asssets by about 300 mln stg as at\nJanuary 1, 1987.\n    Unilever Plc shares are up 25p since yesterday at 2,575p in\nbuoyant response to the results and share split proposal,\nthough 1986 profits were not ahead of market forecasts, dealers\nadded.\n REUTER\n&#3;',0
'U.S. LEADING INDICATORS FELL 1.0 PCT IN JAN AFTER REVISED 2.3 PCT DEC RISE\n ',0
'U.S. LEADING INDEX FELL 1.0 PCT IN JANUARY The U.S. index of leading indicators\nfell a seasonally adjusted 1.0 pct in January after a revised\n2.3 pct December gain, the Commerce Department said.\n    The department previously said the index rose 2.1 pct in\nDecember.\n    The decline in January was the biggest for any month since\nJuly, 1984, when the index fell 1.7 pct.\n    The January decrease left the index at 183.8 over its 1967\nbase of 100, and was led by a fall in contracts and orders for\nplant and equipment.\n    A total of six of 10 indicators available for January\ncontributed to the decline.\n    Besides contracts and orders for plant and equipment, they\nwere building permits, manufacturers\' new orders for consumer\ngoods, a change in sensitive materials prices, slower\ndeliveries from vendors and higher average weekly claims for\nstate unemployment insurance.\n    Four of 10 indicators were positive, including stock\nprices, new business formation, average work week and money\nsupply.\n    The main factor for the December upward revision was new\nbusiness formation.\n    There was no revision in the 0.9 pct increase in the\nleading indicators index for November.\n    The index of coincident indicators, which measures the\ncurrent economy, fell 0.1 pct in January after increases of 0.7\npct in December and 0.2 pct in November.\n    The index of lagging indicators, which measures past\neconomic activity, rose 0.5 pct in January after a decrease of\n0.5 pct in December and an increase of 0.2 pct in November.\n Reuter\n&#3;',0
'BURLINGTON COAT FACTORY WAREHOUSE CORP &lt;BCF> NET Jan 31 end\n    Shr 1.40 dlrs vs 1.10 dlrs\n    Net 16.4 mln vs 12.9 mln\n    Revs 196.2 mln vs 157.5 mln\n Reuter\n&#3;',0
'COFFEE PRICE FALL SHORT TERM - DUTCH ROASTERS This morning\'s sharp decline in coffee\nprices, following the breakdown late last night of negotiations\nin London to reintroduce International Coffee Organization,\nICO, quotas, will be short-lived, Dutch roasters said.\n    \"The fall is a technical and emotional reaction to the\nfailure to agree on reintroduction of ICO export quotas, but it\nwill not be long before reality reasserts itself and prices\nrise again,\" a spokesman for one of the major Dutch roasters\nsaid.\n    \"The fact is that while there are ample supplies of coffee\navailable at present, there is a shortage of quality,\" he said.\n    \"Average prices fell to around 110 cents a lb following the\nnews of the breakdown but we expect them to move back again to\naround 120 cents within a few weeks,\" the roaster added.\n    Dutch Coffee Roasters\' Association secretary Jan de Vries\nsaid although the roasters were disappointed at the failure of\nconsumer and producer ICO representatives to agree on quota\nreintroduction, it was equally important that quotas be\nreallocated on a more equitable basis.\n    \"There is no absolute need for quotas at this moment because\nthe market is well balanced and we must not lose this\nopportunity to renegotiate the coffee agreement,\" he said.\n    \"There is still a lot of work to be done on a number of\nclauses of the International Coffee Agreement and we would not\nwelcome quota reintroduction until we have a complete\nrenegotiation,\" de Vries added.\n    With this in mind, and with Dutch roasters claiming to have\nfairly good forward cover, the buying strategy for the\nforeseeable future would probably be to buy coffee on a\nhand-to-mouth basis and on a sliding scale when market prices\nwere below 120 cents a lb, roasters said.\n Reuter\n&#3;',0
'GREENWOOD RESOURCES &lt;GRRL> SELLS COMPANY STAKE Greenwood Resources Inc said it has sold\nits 4,300,000 common share majority holding in &lt;New London Oil\nLtd> of London to an affiliate of &lt;Guinness Peat Group PLC> of\nLondon and an affiliate of &lt;Sidro SA> of Belgium for a total of\n1,700,0000 dlrs in cash.\n    The company said it will apply the proceeds of the sale to\nsupport its line of credit and as part of a proposed debt\nrestructuring with Colorado National Bancshares &lt;COLC> and\nGreenwood shareholders.\n    It said it will retain a seat on the New London board.\n Reuter\n&#3;',0
'F.W. WOOLWORTH CO 4TH QTR SHR 1.78 DLRS VS 1.64 DLRS\n ',0
'HEINZ INTERESTED IN BUYING GUINNESS BREWING H.J. Heinz &lt;HNZ.N> chairman Tony O\'Reilly\nwould be interested in buying Guinness PLC &lt;GUIN.L>\'s brewery\ndivision if it were for sale, a spokesman said.\n    The spokesman, reacting to Irish and British press reports,\nsaid \"He continues to be interested were the group to offer the\nbrewery side of Guinness for sale. But he has not put together\na consortium, nor has he been buying shares.\"\n    He was quoted by the Irish magazine Business and Finance as\nsaying he would be interested if it came on the market and that\nhe had the support of two international banks if he decided\nsuch a purchase might be worthwhile.\n    In the magazine article, he suggested that if brewing\nprofits were calculated to be in the region of 80 mln punts,\nthe asking price would not be higher than 800 mln punts.\n    \"A multiple of ten times earnings would be the top whack for\nthe brewing division in the current Guinness situation,\" he\nsaid.\n    \"This would mean an expensive exercise, right on the edge,\nbut not impossible,\" he added.\n    The deal would mean buying the Dublin, London, Nigerian and\nMalaysian breweries because \"It could only be sold as an\nintegral unit if it was going to be sold at all,\" O\'Reilly said.\n Reuter\n&#3;',0
'EQUATORIAL COMMUNICATIONS &lt;EQUA> TO HAVE LOSSES Equatorial Communications\nCo said it expects to report losses of about 57 mln dlrs for\nthe fourth quarter and 68 mln dlrs for the full year 1986 on\nrevenues of about 10 mln dlrs for the quarter and 52 mln dlrs\nfor the year.\n    Equatorial said the losses will include a charge of about\n45 mln dlrs from costs associated with the restructuring of its\nbusiness, including adjustments to reflect the market value of\ntransponders owned and leased by Equatorial and other reserves\nfor inventory, receivables and excess facilities.\n    Equatorial said the fourth quarter operating results will\nalso include restructuring costs of about 5,500,000 dlrs, in\naddition to the 45 mln dlr charge.\n    Equitorial also said that as of March One it is operating\nin technical default under its lease of transponders on the\nGalaxy III satellite due to its inabiliuty to maintain\nagreed-upon financial ratios.  It said it is in talks with the\nlessors in an attempt to restructure lease obligations.\n    Further, Equitorial said it is in default of two other\noblitations in connection with the purchase or lease of\ntransponders as a result of cross-default provisions.\n    Equatorial said it has signed a memorandum of understanding\nfor Contel Corp &lt;CTC> to purchase 10 mln dlrs of Equatorial\nmaster earth stations, micro earth stations and associated\nequipment and loan Equatorial six mln dlrs over a six-month\nperiod for repayment starting in December 1988.\n    The company said Conteol, under the agreement, would assume\na portion of Equatorial\'s rights and obligations under the\nGalaxy III transponder lease with &lt;Burnham Leasing> on the\noccurrence of certain events.\n    Equatorial said it would grant Contel an option to buy\nabout 3,600,000 common shares at 3.25 dlrs each.\n    Equatorial said its understandings with Contel are subject\nto Equatorial\'s ability to restructure a significant portion of\nits obligations and to obtain concessions from lenders and\nlessors, in particular under its Galaxy III transponder lease.\nIt said it hopes to finalize a Contel agreement by April 15.\n    Equatorial in 1985 earned 1,807,000 dlrs after a 3,197,000\ndlr gain from early debt retirement on revenues of 56.1 mln\ndlrs. For the first nine months of 1986, the company lost\n9,476,000 dlrs on revenues of 45.4 mln dlrs, compared with a\n1,784,000 dlr profit after the early retirement gain on\nrevenues of 38.5 mln dlrs.\n Reuter\n&#3;',0
'TRANSAMERICA &lt;TA> TO HAVE AUSTRALIAN SALE GAIN Transamerica Corp said it will have\nan after-tax gain of about 10 mln U.S. dlrs on the sale of its\nOccidental Life Insurance Co of Australia Ltd affiliate to\n&lt;Pratt and Co Financial Services Pty Ltd> of Melbourne for 105\nmln Australian dlrs.\n    The sale was announced earlier today in Australia. Proceeds\nwill be used to enhance the growth of North American operations\nof its Transamerica Occidental Life subsidiary, the company\nsaid.\n Reuter\n&#3;',0
'VIACOM INTERNATIONAL INC GETS ANOTHER NEW NATIONAL AMUSEMENTS BID\n ',0
'F.W. WOOLWORTH CO &lt;Z> 4TH QTR JAN 31 NET Shr 1.78 dlrs vs 1.64 dlrs\n    Net 117 mln vs 106 mln\n    Sales 2.02 billion vs 1.85 billion\n    Avg shrs 65.6 mln vs 63.9 mln\n    Year\n    Shr 3.25 dlrs vs 2.75 dlrs\n    Net 214 mln vs 177 mln\n    Sales 6.50 billion vs 5.96 billion\n    Avg shrs 65.6 mln vs 63.9 mln\n    NOTE: Share data restated to reflect two for one stock\nsplit in May 1986\n Reuter\n&#3;',0
'BP OIL RAISES OPERATING PROFIT &lt;BP Oil Ltd>, the U.K. Marketing and\nrefining arm of British Petroleum Co Plc &lt;BP.L>, raised its\npretax operating profit on a replacement cost basis to 182 mln\nstg in calendar 1986, compared with 66 mln stg in 1985.\n    Sales and operating revenue fell to 3.1 billion stg from\n4.2 billion on a replacement cost basis. Historical cost\noperating profit was 61 mln stg, up from 16 mln.\n    BP Oil said 1985 profits had been depressed by exceptional\nitems. Its profit figures were stated before interest charges.\n    Chief executive David Kendall said improved results\nmirrored benefits of a restructuring program undertaken in\nrecent years.\n    However, he warned future financial pressure on the\nindustry will be severe.\n    \"The U.K. Oil marketing and refining industry will need to\ninvest larger sums - probably around 500 mln stg a year - for a\ngood many years,\" he said in a statement.\n Reuter\n&#3;',0
'U.S. ASKS JAPAN END AGRICULTURE IMPORT CONTROLS The U.S. Wants Japan to eliminate import\ncontrols on agricultural products within three years, visiting\nU.S. Under-Secretary of State for Economic Affairs Allen Wallis\ntold Eishiro Saito, Chairman of the Federation of Economic\nOrganisations (Keidanren), a spokesman for Keidanren said.\n    The spokesman quoted Wallis as saying drastic measures\nwould be needed to stave off protectionist legislation by\nCongress.\n    Wallis, who is attending a sub-cabinet-level bilateral\ntrade meeting, made the remark yesterday in talks with Saito.\n    Wallis was quoted as saying the Reagan Administration wants\nJapanese cooperation so the White House can ensure any U.S.\nTrade bill is a moderate one, rather than containing\nretaliatory measures or antagonising any particular country.\n    He was also quoted as saying the U.S. Would be pleased were\nJapan to halve restrictions on agricultural imports within five\nyears if the country cannot cope with abolition within three,\nthe spokesman said.\n    Japan currently restricts imports of 22 agricultural\nproducts. A ban on rice imports triggered recent U.S.\nComplaints about Japan\'s agricultural policy.\n Reuter\n&#3;',0
'FIRSTCORP &lt;FCR> SEES GAIN ON CONDEMNATION Firstcorp Inc said it weill report\nan after-tax gain of 1,827,000 dlrs or 56 cts per share primary\nand 42 cts fully diluted from the proposed condemnation and\nacquisition of a parking deck it operates by Wake County.\n    The company said if it reinvested proceeds in a similar\nproperty within 24 months, the gain on the sale would be\ndeferred for tax purposes.\n Reuter\n&#3;',0
'&lt;NATIONAL SEA PRODUCTS LTD> 4TH QTR NET Oper shr 43 cts vs 21 cts\n    Oper net 6,846,000 vs 3,386,000\n    Revs 137.1 mln vs 107.6 mln\n    Year\n    Oper shr 1.36 dlrs vs 42 cts\n    Oper net 21,764,000 vs 7,239,000\n    Revs 516.4 mln vs 454.7 mln\n    Note: 1986 qtr excludes extraordinary gain of 784,000 dlrs\nor five cts share, versus extraordinary loss of 110,000 dlrs or\nshr nil in 1985 qtr\n    Note continued: 1986 year excludes extraordinary gain of\n14,360,000 dlrs or 94 cts share, versus extraordinary gain of\n2,883,000 dlrs or 19 cts share in prior year\n Reuter\n&#3;',0
'U.K. MONEY MARKET SHORTAGE FORECAST REVISED DOWN The Bank of England said it had revised\nits forecast of the shortage in the money market down to 450\nmln stg before taking account of its morning operations. At\nnoon the bank had estimated the shortfall at 500 mln stg.\n REUTER\n&#3;',0
'NATIONAL AMUSEMENTS AGAIN UPS VIACOM &lt;VIA> BID Viacom International Inc said &lt;National\nAmusements Inc> has again raised the value of its offer for\nViacom\'s publicly held stock.\n    The company said the special committee of its board plans\nto meet later today to consider this offer and the one\nsubmitted March one by &lt;MCV Holdings Inc>.\n    A spokeswoman was unable to say if the committee met as\nplanned yesterday.\n    Viacom said National Amusements\' Arsenal Holdings Inc\nsubsidiary has raised the amount of cash it is offering for\neach Viacom share by 75 cts to 42.75 dlrs while the value of\nthe fraction of a share of exchangeable Arsenal Holdings\npreferred to be included was raised 25 cts to 7.75 dlrs.\n    National Amusements already owns 19.6 pct of Viacom\'s stock.\n Reuter\n&#3;',0
'NATIONAL FSI INC &lt;NFSI> 4TH QTR LOSS Shr loss six cts vs profit 19 cts\n    Net loss 166,000 vs profit 580,000\n    Revs 3,772,000 vs 5,545,000\n    Year\n    Shr loss 13 cts vs profit 52 cts\n    Net loss 391,000 vs profit 1,425,000\n    Revs 15.4 mln vs 16.6 mln\n    NOTE: 1985 year figures pro forma for purchase accounting\nadjustments resulting from March 1985 reeacquisition of company\nby its original shareholders before August 1985 initial public\noffering. \n Reuter\n&#3;',0
'&lt;PRECAMBRIAN SHIELD RESOURCES LTD> YEAR LOSS Shr loss 1.93 dlrs vs profit 16 cts\n    Net loss 53,412,000 vs profit 4,479,000\n    Revs 24.8 mln vs 32.7 mln\n    Note: 1986 shr and net include 51,187,000 dlr writedown on\nU.S. operations, uneconomic coal operations and other mineral\nproperties\n Reuter\n&#3;',0
'U.K. MONEY MARKET GIVEN FURTHER 437 MLN STG HELP The Bank of England said it had provided the\nmoney market with a further 437 mln stg assistance in the\nafternoon session. This brings the Bank\'s total help so far\ntoday to 461 mln stg and compares with its revised shortage\nforecast of 450 mln stg.\n    The central bank made purchases of bank bills outright\ncomprising 120 mln stg in band one at 10-7/8 pct and 315 mln\nstg in band two at 10-13/16 pct.\n    In addition, it also bought two mln stg of treasury bills\nin band two at 10-13/16 pct.\n REUTER\n&#3;',0
'GREASE MONKEY HOLDING CORP &lt;GMHC> YEAR NOV 30 Shr nil vs nil\n    Net 130,998 vs 30,732\n    Revs 1,568,941 vs 1,0053,234\n Reuter\n&#3;',0
'ACCEPTANCE INSURANCE HOLDINGS INC &lt;ACPT> YEAR Oper shr profit 1.80 dlrs vs loss 2.28 dlrs\n    Oper net profit 2,048,0000 vs loss 1,318,000\n    Revs 25.4 mln vs 12.3 mln\n    Avg shrs 1,135,000 vs 576,000\n    NOTE: Net excludes realized investment gains of 40,000 dlrs\nvs 13,000 dlrs.\n    1986 net excludes 729,000 dlr tax credit.\n Reuter\n&#3;',0
'MINSTAR INC &lt;MNST> 4TH QTR NET Oper shr loss 31 cts vs loss 30 cts\n    Oper net loss 5,429,000 vs loss 5,216,000\n    Revs 257.5 mln vs 243.6 mln\n    Avg shrs 17.5 mln vs 13.5 mln\n    Year\n    Oper shr loss eight cts vs profit 28 cts\n    Oper net loss 1,324,000 vs profit 4,067,000\n    Revs 989.5 mln vs 747.9 mln\n    Avg shrs 17.6 mln vs 15.7 mln\n   \n    NOTE: 1986 operating net loss excludes income from\ndiscontinued operations equal to 11 cts in the quarter and 66\ncts in the year compared with 1.07 dlrs in the quarter and 1.23\ndlrs in the respective periods of 1985.\n    1986 operating net loss also excludes extraordinary charges\nof 14 cts in the quarter and 54 cts in the year.\n    1985 operating net profit excludes an extraordinary gain of\n47 cts.\n Reuter\n&#3;',0
'&lt;MARK RESOURCES INC> YEAR LOSS Shr not given\n    Loss 54.9 mln\n    Revs 27.2 mln\n    Note: Prior year results not given. 1986 results include\naccounts of 89 pct owned &lt;Precambrian Shield Resources Ltd>,\nacquired November 5, 1986\n Reuter\n&#3;',0
'TRANSFORM LOGIC &lt;TOOG> REVISES RESULTS DOWNWARD Transform Logic Corp said it\nhas revised downward its previously reported fourth quarter and\nyear, ended October 31, results to reflect compensation expense\nfor employee stock options.\n    The company said resolution of this disagreement with its\nauditors came as a result of Securities and Exchange Commission\ninvolvement. The company will amend its option-granting\nprocedure to conform to the SEC decision which will eliminate\nfuture charges, it added.\n    Transform said its fourth quarter profit was revised to\n305,082 dlrs, or two cts a share, from the previously reported\n580,955 dlrs, which left the company with a fiscal 1986 loss of\n249,814 dlrs, or two cts a share, instead of the reported\n26,195 dlrs profit.\n Reuter\n&#3;',0
'AMERICAN STORES &lt;ASC> SEES LOWER YEAR NET American Stores Co said it\nexpects to report earnings per share of 3.70 to 3.85 dlrs per\nshare on sales of slightly over 14 billion dlrs for the year\nended January 31.\n    The supermarket chain earned 4.11 dlrs per share on sales\nof 13.89 billion dlrs last year.\n    The company did not elaborate.\n Reuter\n&#3;',0
'KASLER CORP &lt;KASL> 1ST QTR JAN 31 NET Shr profit three cts vs loss seven cts\n    Net profit 161,000 vs loss 367,000\n    Revs 24.3 mln vs 26.5 mln\n Reuter\n&#3;',0
'UNILEVER HAS IMPROVED MARGINS, VOLUMES IN 1986 Unilever Plc &lt;UN.A> and NV group reported\nimprovements in margins and underlying sales volume growth of\nfive pct in 1986 after stripping out the effects of falling\nprices, disposals and currency movements, Unilever Plc chairman\nMichael Angus said.\n    He told reporters that volumes in North America increased\nsome 10.5 pct while European consumer goods rose about 2.5 pct\nafter being flat for some years.\n    Much of the disposal strategy, aimed at concentrating\nactivities on core businesses, had now been completed, he\nnoted.\n    But the process of acquisitions would go on, with strategic\nacquisitions taking place \"from time to time,\" he said.\n    The company earlier reported a 20 pct rise in pre-tax\nprofits for 1986 to 1.14 billion stg from 953 mln previously.\nIn guilder terms, however, profits at the pre-tax level dropped\nthree pct to 3.69 billion from 3.81 billion.\n    Angus said the recent purchase of Chesebrough-Pond\'s Inc\n&lt;CBM.N> for 72.50 dlrs a share was unlikely to bring any\nearnings dilution.\n    However, it would not add much to profits, with much of the\ncompany\'s operating profits paying for the acquisition costs.\n    Finance director Niall Fitzgerald added that while gearing\n- debt to equity plus debt - rose to about 60 pct at end 1986\nfrom 35 pct last year, this was expected to drop back to about\n40 pct by end-1987.\n    The same divergence was made in full year dividend, with\nUnilever NV\'s rising 3.4 pct to 15.33 guilders and Unilever\nPlc\'s increasing 29.9 pct to 50.17p, approximately in line with\nthe change in attributable profit.\n    Angus said the prospectus for the sale of parts of\nChesebrough was due to be published shortly. However, he said\nthat there was no target date for completing the process.\n    He also declined to say what sort of sum Unilever hoped to\nrealise from the operation, beyond noting that Chesebrough had\npaid around 1.25 billion dlrs for Stauffer Chemical Co, which\noperates outside Unilever\'s core activities.\n    In the U.S., Organic growth from the Lipton Foods business,\nconsiderable expansion in the household products business and\nin margarine had been behind the overall sales increase.\n    However, he noted that the U.S. Household products business\nhad turned in a planned loss, with fourth quarter performance\nbetter than expected despite the anticipated heavy launch costs\nof its Surf detergents.\n Reuter\n&#3;',0
'SARA LEE &lt;SLE> TO BUY 34 PCT OF DIM Sara Lee Corp said it agreed to buy a 34\npct interest in Paris-based DIM S.A., a subsidiary of BIC S.A.,\nat a cost of about 84 mln dlrs.\n    DIM S.A., a hosiery manufacturer, had 1985 sales of about\n260 mln dlrs.\n    The investment includes the purchase of 360,537 newly\nissued DIM shares valued at about 51 mln dlrs and a loan of\nabout 33 mln dlrs, it said. The loan is convertible into an\nadditional 229,463 DIM shares, it noted.\n    The proposed agreement is subject to approval by the French\ngovernment, it said.\n Reuter\n&#3;',0
'CHINA CALLS FOR BETTER TRADE DEAL WITH U.S. China called on the United States to\nremove curbs on its exports, to give it favourable trading\nstatus and ease restrictions on exports of high technology.\n    But the U.S. Embassy replied that Chinese figures showing\n13 years of trade deficits with the U.S. Out of the last 15 are\ninaccurate and said Peking itself would have to persuade\nCongress to change laws which limit its exports.\n    The official International Business newspaper today\npublished China\'s demands in a  editorial to coincide with the\nvisit of U.S. Secretary of State George Shultz.\n    \"It is extremely important that the U.S. Market reduce its\nrestrictions on Chinese imports, provide the needed facilities\nfor them and businessmen from both sides help to expand Chinese\nexports,\" the editorial said.\n    \"The U.S. Should quickly discard its prejudice against\nfavourable tariff treatment for Chinese goods and admit China\ninto the Generalised System of Preference (GSP).\n    \"Despite easing of curbs on U.S. Technology exports in\nrecent years, control of them is still extremely strict and\ninfluences normal trade between the two countries,\" it added.\n    The paper also printed an article by China\'s commercial\ncounsellor in its Washington embassy, Chen Shibiao, who said\nthat \"all kinds of difficulties and restrictions\" were preventing\nbilateral trade fulfilling its full potential.\n    He named them as U.S. Protectionist behaviour, curbs on\ntechnology transfer and out-of-date trade legislation.\n Reuter\n&#3;',0
'U.S. COMMERCE SECRETARY SAYS EXPORT RISE NEEDED Commerce Secretary Malcolm Baldrige\nsaid after the release of a sharply lower January leading\nindicator index that a pickup in exports is needed.\n    \"The best tonic for the economy now would be a pickup in net\nexports,\" he said in a statement after the department reported\nthe index fell 1.0 pct in January from December, the sharpest\ndrop since a 1.7 pct fall in July, 1984.\n    The main reasons for the January decline after a 2.3 pct\nDecember rise were declines in building permits, new orders for\nplant and equipment and for consumer and industrial goods.\n Reuter\n&#3;',0
'PRECAMBRIAN SHIELD TAKES 51 MLN DLR WRITEDOWN &lt;Precambrian Shield Resources\nLtd>, earlier reporting a large loss against year-ago profit,\nsaid the 1986 loss was mainly due to a 51,187,000 dlr writedown\non its U.S. operations, uneconomic coal and other mineral\nproperties.\n    Precambrian, which is 89 pct owned by &lt;Mark Resources Inc>,\nsaid it took the writedown in accordance with new Canadian\nInsititute of Chartered Accountants guidelines for full cost\nmethod accounting by oil and gas companies.\n    Precambrian earlier reported a 1986 loss of 53.4 mln dlrs,\ncompared to profit of 4.5 mln dlrs in the prior year.\n Reuter\n&#3;',0
'KENYAN ECONOMY FACES PROBLEMS, PRESIDENT SAYS The Kenyan economy is heading for\ndifficult times after a boom last year, and the country must\ntighten its belt to prevent the balance of payments swinging\ntoo far into deficit, President Daniel Arap Moi said.\n    In a speech at the state opening of parliament, Moi said\nhigh coffee prices and cheap oil in 1986 led to economic growth\nof five pct, compared with 4.1 pct in 1985.\n    The same factors produced a two billion shilling balance of\npayments surplus and inflation fell to 5.6 pct from 10.7 pct in\n1985, he added.\n    \"But both these factors are no longer in our favour ... As a\nresult, we cannot expect an increase in foreign exchange\nreserves during the year,\" he said.\n    The price of coffee, Kenya\'s main source of foreign\nexchange, fell in London today to about 94 cents a pound from a\npeak of 2.14 dlrs in January 1986.\n    Crude oil, which early last year slipped below 10 dlrs a\nbarrel, has since crept back to over 18 dlrs.\n    Moi said the price changes, coupled with a general decline\nin the flow of capital from the rest of the world, made it more\ndifficult to finance the government\'s budget deficit.\n    Kenya was already spending over 27 pct of its budget on\nservicing its debts and last year it was a net exporter of\ncapital for the first time in its history, he added.\n    \"This is a clear indication that we are entering a difficult\nphase as regards our external debts, and it is imperative that\nwe raise the rate of domestic savings and rely less on foreign\nsources to finance our development,\" he said.\n    \"It will be necessary to maintain strict discipline on\nexpenditure ... And members of this house will have to take the\nlead in encouraging wananchi (ordinary people) to be more\nfrugal in satisfying immediate needs,\" the president added.\n REUTER\n&#3;',0
'SCOTT\'S HOSPITALITY ACQUIRES CAPITAL FOOD &lt;Scott\'s Hospitality Inc> said it\nacquired all issued shares of Capital Food Services Ltd, of\nOttawa. Terms were not disclosed.\n    Scott\'s said Capital Food had 1986 sales of more than 20\nmln dlrs and will continue to operate under its present name\nwith existing management.\n    Capital Food provides food services to several Ottawa\ninstitutions, the company said.\n Reuter\n&#3;',0
'ZIMBABWE COFFEE OUTPUT SET TO RISE Zimbabwean coffee output will reach\n13,000 tonnes this year, up on just over 11,000 tonnes produced\nin 1986, the Commercial Coffee Growers Association said.\n    Administrative Executive Robin Taylor told the domestic\nnews agency ZIANA that Zimbabwe earned the equivalent of 33 mln\nU.S. Dlrs from coffee exports last year. He would not say how\nmuch the country would earn in 1987.\n    Taylor said the 173 commercial coffee growers under his\nassociation had increased production from 5,632 tonnes in 1980\nto more than 11,000 tonnes in l986.\n Reuter\n&#3;',0
'VIDEO DISPLAY &lt;VIDE> TO SELL CABLE TV UNIT Video Display Corfp said it has reached\na tentiative agreement to sell its existing cable television\nbusiness for undisclosed terms and expects to report a gain on\nthe transaction.  The buyer was not named.\n    The company said it will redeploy its service assets into\nmanufacturing and distribution.\n    It said the operations being sold accounted for about five\npct of revenues for the year ended February 28 and lost money.\n Reuter\n&#3;',0
'INTEK DIVERSIFIED CORP &lt;IDCC> 4TH QTR NET Shr three cts vs three cts\n    Net 98,20000 vs 91,898\n    Revs 2,843,520 vs 2,372,457\n    Year\n    Shr 13 cts vs 21 cts\n    Net 401,179 vs 681,374\n    Revs 10.5 mln vs 9,699,535\n Reuter\n&#3;',0
'U.S. SINGLE-FAMILY HOME SALES FELL 6.8 PCT IN JAN AFTER REVISED 12.1 PCT DEC GAIN\n ',0
'U.S. HOME SALES FELL 6.8 PCT IN JANUARY Sales of new single-family homes in\nthe United States fell 6.8 pct in January from December to a\nseasonally adjusted annual rate of 716,000 units, the Commerce\nDepartment said.\n    The department revised downward December\'s sales to a 12.1\npct rise to 768,000 units from the previously reported 12.7 pct\nincrease.\n    The January decline in sales was the largest since last\nOctober when sales fell 9.3 pct.\n    Before seasonal adjustment, the number of homes actually\nsold in January was 53,000, up from 49,000 in December but down\nfrom 59,000 in January, 1986.\n    The January fall brought home sales to a level 1.6 pct\nbelow January, 1986, when they were a seasonally adjusted\n728,000 units.\n    The average price was a record 127,100 dlrs, surpassing the\nprevious record 119,100 price set in December.\n    The median price of a home in January reached 100,700 dlrs\n-- the first time the price has exceeded 100,000 dlrs. That\ncompared with a median price of 94,600 dlrs in December and\n94,000 dlrs in January a year ago.\n    New homes available on the market in January totaled a\nseasonally adjusted 362,000 units, unchanged from December and\nequal to a 6.3 months\' supply.\n    The supply in December was 5.9 months.\n Reuter\n&#3;',0
'COMMUNITY BANK &lt;CBSI> TO MAKE ACQUISITION Community Bank System Inc said it\nhas entered into a definitive agreement to acquire Nichols\nCommunity Bank for 2,800,000 dlrs in common stock.\n    It said subject to approval by Nichols shareholders and\nregulatory authorities, the transaction is expected to be\ncompleted later this year.\n Reuter\n&#3;',0
'BELGIAN UNEMPLOYMENT FALLS IN FEBRUARY Belgian unemployment, based on the\nnumber of jobless drawing unemployment benefit, fell to 12.1\npct of the working population at the end of February from 12.6\npct at the end of January, the National Statistics Office said.\n    The rate compares with 12.4 pct at the end of February\n1986.\n    The total number of jobless stood at 508,392, compared with\n530,587 at the end of January and 521,219 at the end of\nFebruary 1986, the Statistics Office said.\n REUTER\n&#3;',0
'PHARMACIA AB &lt;PHAB ST>  1986 YEAR Sales 3.65 billion crowns vs 3.40\nbillion.\n     Profit  after financial items 821.2 mln crowns vs 740.2\nmln.\n    The 1986 results include a once-off writedown of 520 mln\ncrowns for intangible assets, mainly the know-how paid for in\nthe takeover of a number of high-tech companies by the group,\nPharmacia said.\n    Earnings per share after real tax including the writedown:\n1.94 crowns vs 12.05 crowns.\n    Earnings per share after real tax (not including the\nwritedown): 12.38 crowns vs 12.05\n    Earnings per American Depository Receipt (ADR) according to\nU.S. Accounting principles after real tax including the\nwritedown): 1.96 crowns vs 9.49 crowns.\n    Earnings per ADR according to U.S. Accounting principles\nafter real tax (without the writedown): 9.8 crowns vs 9.49.\n    One ADR represents 0.75 pct of one B Free share in\nPharmacia.\n    The board proposed a dividend of 1.55 crowns vs 1.25.\n REUTER\n&#3;',0
'PHARMACIA FORECASTS HIGHER 1987 EARNINGS Pharmacia AB &lt;PHAB ST> forecast\nearnings after financial items of one billion crowns in 1987 vs\n821.2 mln last year on condition that exchange rates remained\nat their present parities.\n    Sales would in such circumstances go up to six billion\ncrowns from 3.65 billion in 1986, it said.\n    A weakening Dollar was mainly responsible for a five pct\nnegative impact on sales during 1986 which the company blamed\non currency movements.\n    Last year\'s results were also badly hit by a once-off\nwritedown of 520 mln crowns for intangible assets.\n    The company said mainly this represented the premium the\ngroup had paid for the know-how of various high-tech firms it\nhad taken over.\n    The accounts also showed a financial deficit of 1.87\nbillion crowns vs a deficit of 133 mln which was covered partly\nby drawing down company liquidity to 738 mln vs one billion and\npartly by increasing borrowing to 2.23 billion vs 621 mln.\n    Pharmacia said the financial deficit was caused by it\nhaving used more funds than generated by group operations,\nmainly because of the 1.36 billion it paid in cash for shares\nin LKB-Produkter AB and the assets of Intermedics-Intraocular\nInc.\n REUTER\n&#3;',0
'CANADA REAL 4TH QTR GDP ROSE 1.1 PCT, AFTER 3RD QTR 1.1 PCT RISE - OFFICIAL\n ',0
'CANADA 4TH QTR CURRENT ACCOUNT DEFICIT 2.3 BILLION DLRS VS 3RD QTR 1.9 BILLION DEFICIT - OFFICIAL\n ',0
'MCLEAN INDUSTRIES &lt;MII> UNIT TRANSERS SERVICE McLean Industries Inc said its\nshipping subsidiary, United States Lines Inc, reached an\nagreement in principle to transfer its South American service\nto American Transport Lines Inc, a subsidiary of &lt;Crowley\nMaritime Corp>.\n    Under the terms of the agreement, United States Lines will\nlease five vessels to American Transport for 15 months with an\noption to extend the period up to 10 years, the company said.\n    In return, U.S. Lines will receive a fixed payment and a\npercentage of revenues for at least three years and possibly as\nlong as American Transport utilizes its vessels and conducts\ntrade in South America, the company said.\n    The companies will consummate the transactions as soon as\nthe required approvals are obtained, McLean said.\n Reuter\n&#3;',0
'SMALL QUANTITY OF UK WHEAT SOLD TO HOME MARKET A total of 2,435 tonnes of British\nintervention feed wheat were sold at today\'s tender for the\nhome market out of requests for 3,435 tonnes, the Home Grown\nCereals Authority, HGCA, said.\n    Price details were not reported.\n    No bids were submitted for intervention barley.\n Reuter\n&#3;',1
'CANADA DECEMBER GDP UP 1.2 PCT AFTER NOVEMBER\'S 0.2 PCT FALL - OFFICIAL\n ',0
'FIRST FEDERAL SAVINGS &lt;FFKZ> YEAR NET Shr 78 cts vs one dlr\n    Net 1,413,000 vs 1,776,000\n    Assets 705.3 mln vs 597.3 mln\n    Deposits 495.6 mln vs 493.9 mln\n    Loans 260.0 mln vs 379.7 mln\n    Qtly div six cts vs six cts prior qtr\n    Pay April 1 \n    Record March 6\n    NOTE: 1986 net includes charges from accounting changes,\nfrom one-time expenses associated with a proxy contest and an\nincrease in loan reserves.\n    First Federal Savings and Loan Association of Kalamazoo is\nfull name of company.\n Reuter\n&#3;',0
'TOLL BROTHERS INC &lt;TOL> 1ST QTR JAN 31 NET Shr 22 cts vs 12 cts\n    Net 3,243,000 vs 1,656,000\n    Revs 28.4 mln vs 21.5 mln\n    NOTE: All amts reflect 3-for-2 stock split of company\'s\ncommon in form of 50 pct stock dividend paid Feb 26, 1987.\n Reuter\n&#3;',0
'PILLSBURY CO &lt;PSY> VOTES QUARTERLY DIVIDEND Qtly div 25 cts vs 25 cts prior qtr\n    Pay 31 May\n    Record 1 May\n Reuter\n&#3;',0
'BERKSHIRE GAS CO &lt;BGAS> PAYS REGULAR QTLRY DIV Qtrly div 28.5 cts vs 28.5 cts\n    Pay April 15\n    Record March 31\n Reuter\n&#3;',0
'U.K. WHEAT AND BARLEY EXPORTS ADJUSTED UPWARDS The U.K. Exported 535,460 tonnes of wheat\nand 336,750 tonnes of barley in January, the Home Grown Cereals\nAuthority (HGCA) said, quoting adjusted Customs and Excise\nfigures.\n    Based on the previous January figures issued on February 9,\nwheat exports increased by nearly 64,000 tonnes and barley by\nabout 7,000 tonnes.\n    The new figures bring cumulative wheat exports for the\nperiod July 1/February 13 to 2.99 mln tonnes, and barley to\n2.96 mln compared with 1.25 and 1.89 mln tonnes respectively a\nyear ago.\n    January wheat exports comprised 251,000 tonnes to European\nCommunity destinations and 284,000 tonnes to third countries.\n    The Soviet Union was prominent in third country\ndestinations, taking 167,700 tonnes while Poland was credited\nwith 54,500 and South Korea 50,000 tonnes. Italy was the\nlargest EC recipient with 75,000 tonnes followed by West\nGermany with 55,200 and France 52,000 tonnes.\n    Barley exports for January comprised 103,700 tonnes to the\nEC and 233,000 to third countries. The Soviet Union was the\nlargest single importer with 133,265 tonnes followed by Saudi\nArabia with 53,800 tonnes.\n Reuter\n&#3;',1
'CANADA GDP RISES 3.1 PCT IN 1986 Canada\'s real gross domestic product,\nseasonally adjusted, rose 1.1 pct in the fourth quarter of\n1986, the same as the growth as in the previous quarter,\nStatistics Canada said.\n    That left growth for the full year at 3.1 pct, which is\ndown from 1985\'s four pct increase.\n    The rise was also slightly below the 3.3 pct growth rate\nFinance Minister Michael Wilson predicted for 1986 in\nFebruary\'s budget. He also forecast GDP would rise 2.8 pct in\n1987.\n    Statistics Canada said final domestic demand rose 0.6 pct\nin the final three months of the year after a 1.0 pct gain in\nthe third quarter.\n    Business investment in plant and equipment rose 0.8 pct in\nthe fourth quarter, partly reversing the cumulative drop of 5.8\npct in the two previous quarters.\n Reuter\n&#3;',0
'EAST EUROPE WHEAT WINTERKILL POSSIBLE, ACCU SAYS Winter wheat crops in the\nwestern Soviet Union, Poland and eastern Czechoslovakia through\nnorthern Romania may suffer some winterkill over the next two\nnights, private forecaster Accu-Weather Inc said.\n    Western USSR winter wheat areas have had only light and\nspotty snow and winterkill is possible tonight and tomorrow\nnight as temperatures drop to minus 10 to 0 degrees F.\n    Snow cover is scant in Poland, with only about 50 pct of\nthe winter wheat areas reporting one to two inches of snow as\nof this morning.\n    The remaining 50 pct of winter wheat crops do not have snow\ncover, making winterkill possible on each of the next two\nnights. Lowest temperatures will be minus 10 to 0 degrees F.\n    Winter wheat areas from eastern Czechoslovakia through\nnorthern Romania had light snow flurries yesterday and last\nnight, but amounts were an inch or less. With temperatures\nexpected to fall to near 0 degrees F over the next two nights,\nsome light winterkill is possible, Accu-Weather added.\n Reuter\n&#3;',1
'CHARMING SHOPPES INC &lt;CHRS> 4TH QTR JAN 31 NET Shr 28 cts vs 22 cts\n    Net 14 mln vs 10.6 mln\n    Revs 163.8 mln vs 127.3 mln\n    Year\n    Shr 81 cts vs 59 cts\n    Net 40.5 mln vs 28.7 mln\n    Revs 521.2 mln vs 391.6 mln\n Reuter\n&#3;',0
'PANSOPHIC SYSTEMS &lt;PNS> SPLITS STOCK 2-FOR-1 Pansophic Systems Inc said it\nwill split its stock two-for-one effective April two to\nshareholders of record March 13.\n    It also said it will pay a six cts per share dividend on\nthe pre-split shares, a regular quarterly dividend, on April\ntwo to shareholders of record March 13.\n Reuter\n&#3;',0
'LAC &lt;LAC> INTERSECTS MORE GOLD AT DOYON MINE Lac Minerals Ltd and &lt;Cambior Inc> said\nthey completed a second hole at their jointly owned Doyon mine\nin Quebec, which showed two significant gold intersections.\n    One intersection graded 0.33 ounce gold a short ton over 44\nfeet at depth of 1,411 feet, while the other graded 0.22 ounce\ngold a ton over 23 feet at 2,064 feet, the companies said. The\nhole is 460 feet east of the previously reported first hole.\n    They said they were now drilling another hole 460 feet to\nthe west of the first drill hole and expected to report results\nin late March or early April.\n Reuter\n&#3;',0
'CALMAR &lt;CLMI> SEEKS TO BE ACQUIRED BY &lt;KEBO AB> Calmar Inc said KEBOO Ab of\nSweden, which now owns about 64 pct of Calmark, has approved\nthe acquisition of remaining Calmar shares at 25.375 dlrs in\ncash at the request of the Calmar board.\n    Calmar said a special meeting of its board will be held\nMarch Nine to form a special committee of directors not\naffiliated with KEBO to evaluate the transaction.\n    KEBO is in turn 60 pct owned by &lt;Investment AB Beijar> of\nSweden.\n Reuter\n&#3;',0
'ITALY\'S BNL NEGOTIATING PURCHASE OF GERMAN BANK Italy\'s state-owned &lt;Banca Nazionale Del\nLavoro-BNL> said it is negotiating to buy a West German bank as\npart of its foreign expansion policy.\n    BNL president Nerio Nesi told a news conference the Italian\nbank was currently involved in talks but declined to name the\nGerman institution.\n    He said the takeover move could be seen as BNL\'s reply to\nDeutsche Bank AG &lt;DBKG.F>, which entered the Italian market in\nDecember 1986, with the purchase of BankAmerica &lt;BACN>\nsubsidiary &lt;Banca D\'America e D\'Italia>.\n    Nesi said BNL had also approved a 200 mln dlr credit line\nto the Soviet Union aimed at enabling Soviet companies to pay\nfor Italian imports. He gave no further details.\n    BNL officials said the group had also decided to increase\nits activities in the Soviet Union by opening a representative\noffice in Moscow this month through its subsidiary &lt;Sogecred>,\nwhich specialises in Italian-Soviet trade.\n REUTER\n&#3;',0
'THREE KILLED IN SOUTH AFRICA ZINC REFINERY CLASH Three black workers were killed and\nseven injured in fighting at a South African zinc refinery last\nnight, Gold Fields of South Africa Ltd said.\n    The company said two groups of workers began attacking each\nother at about 1000 local time with machetes, knives and sticks\nat a hostel at the Zincor plant, some 40 kms east of\nJohannesburg.\n    It said the fighting was \"quelled\" after 25 minutes by its\nown security staff. Police were called but the fighting had\nended by the time they arrived.\n    A company spokesman said he had no idea of the cause of the\nfighting. An investigation was underway, he said.\n Reuter\n&#3;',0
'FED EXPECTED TO ADD TEMPORARY RESERVES The Federal Reserve is expected to\nenter the U.S. Government securities market to add temporary\nreserves, economists said.\n    They expect it to supply the reserves indirectly by\narranging 1.5 to two billion dlrs of customer repurchase\nagreements. The Fed may add the reserves directly instead via\nSystem repurchases.\n    Federal funds, which averaged 6.18 pct yesterday, opened at\n6-3/16 pct and stayed there in early trading. Analysts said the\nrate is under upward pressure partly from settlement of 8.25\nbillion dlrs of five-year Treasury notes.\n Reuter\n&#3;',0
'EC INDUSTRY OUTPUT GROWTH SLOWS IN 1986 European Community industrial output\nincreased by an average of around two pct last year, compared\nwith 3.3 pct growth recorded in 1985 against a year earlier,\nthe EC statistics office Eurostat said.\n    Growth was highest in Portugal at five pct, while in Greece\noutput contracted by 0.3 pct, Eurostat said in a statement.\n    Eurostat noted output growth also fell in the U.S. And\nJapan. U.S. Production increased 1.1 pct after 2.0 pct in 1985,\nwhile in Japan output contracted by 0.5 pct after rising 4.5\npct a year earlier.\n    Eurostat said EC industrial production in December rose 3.1\npct compared with 12 months earlier but added that after\nadjustment for seasonal factors, output growth had been clearly\nslowing down since the beginning of the summe\n REUTER\n&#3;',0
'LSB INDUSTRIES INC &lt;LSB> 4TH QTR NET Shr profit five cts vs loss 2.11 dlrs\n    Net profit 375,061 vs loss 10.4 mln\n    Revs 39.9 mln vs 37.8 mln\n    Avg shrs 6,536,008 vs 4,939,895\n    12 mths\n    Shr profit 47 cts vs loss 3.37 dlrs\n    Net profit 2,837,288 vs loss 16.6 mln\n    Revs 169.1 mln vs 149.4 mln\n    Avg shrs 6,037,640 vs 4,937,378\n    NOTE: primary earnings per share are based on the weighted\naverage number of common and dilutive common equivalent shares\noutstanding during each period after accounting for preferred\nstock dividends.\n    The qtr and year 1985 includes a 6,000,000 provision for\nrestructuring costs related to the sale of its Energy business\nand parts of its Bearing business.\n    The qtr and year 1986 includes charges of 1,200,000 and\n5,200,000, respectively, for restructuring costs and operating\nlosses which were charged against the previously provided\naccruals for restructuring costs.\n    The qtr and year 1986 includes deferred income taxes of\n244,000 and 785,000, respectively.\n    Year net 1986 includes operations of Friedrich Climate\nMaster Inc, which the company acquired in August 1985, for the\nfull period, while the comparable period for 1985 includes only\noperations from August 16, 1985, to Dec 31, 1985.\n    Third qtr 1986 Includes extraodinary tax gain of 270,000 \nfrom early extinquishment of certain drafts payable.\n Reuter\n&#3;',0
'MORE GOLD DETECTED AT DOYON MINE Lac Minerals Ltd and Cambior Inc said\nthey completed a second hole at their jointly owned Doyon mine\nin Quebec, which showed two significant gold intersections.\n    One intersection graded 0.33 ounce gold per short ton over\n44 feet at depth of 1,411 feet, while the other graded 0.22\nounce gold per ton over 23 feet at 2,064 feet, the companies\nsaid. The hole is 460 feet east of the previously reported\nfirst hole.\n    Another hole is being drilled 460 feet to the west of the\nfirst drill hole and results are expected in late March or\nearly April.\n Reuter\n&#3;',0
'GULF RESOURCES AND CHEMICAL CORP &lt;GRE> 4TH QTR Oper shr profit 34 cts vs loss 53 cts\n    Oper net profit 3,337,000 vs 4,881,000\n    Revs 32.7 mln vs 49.6 mln\n    Year\n    Oper shr profit 20 cts vs loss 90 cts\n    Oper net profit 2,374,000 vs loss 9,381,000\n    Revs 126.9 mln vs 160.5 mln\n    NOTES: Operating net excludes loss 6,050,000 dlrs, or 64\ncts a share, vs loss 24,839,000 dlrs, or 2.61 dlrs a share, in\nquarter and loss 6,050,000 dlrs, or 64 cts a share, vs profit\n64,013,000 dlrs, or 6.27 dlrs a share, from discontinued\noperations\n    1986 loss from discontinued operations includes 6.0 mln\ndlrs charge, equal to 64 cts a share, to provide for additional\nliabilities resulting from the 1981 closure of lead, zinc and\nsilver mining, smelting and refining business\n    1986 year operating net includes pre-tax gain of 5.3 mln\ndlrs, equal to 56 cts a share, from pension plan termination\nand gain of 5.2 mln dlrs, or 56 cts a share, from reduction in\ndeferred taxes\n    Effective Jan 1, 1987, company changed oil and gas\naccounting to successful efforts from full cost, increasing\n1986 year net 9.2 mln dlrs, or 98 cts a share, and increasing\n1985 loss 4.3 mln dlrs, or 43 cts a share. The cumulative\neffect of the change was to decrease retained earnings at Dec\n31, 1986, by 14.0 mln dlrs\n Reuter\n&#3;',0
'COFFEE TALKS COLLAPSE EASES NEED FOR U.S. BILL The collapse of International Coffee\nOrganization, ICO, talks on export quotas yesterday removes the\nimmediate need to reinstate U.S. legislation allowing the\ncustoms service to monitor coffee imports, analysts here said.\n    The Reagan administration proposed in trade legislation\noffered Congress last month that authority to monitor coffee\nimports be resumed. That authority lapsed in September 1986. A\nbill also was introduced by Rep. Frank Guarini (D-N.J.).\n    However, the failure of the ICO talks in London to reach\nagreement on export quotas means the U.S. legislation is not\nimmediately needed, one analyst said. Earlier supporters of the\ncoffee bill hoped it could be passed by Congress quickly.\n    \"You\'re going to have a hard time convincing Congress (now)\nthis is an urgent issue,\" the coffee analyst said.\n Reuter\n&#3;',0
'PANSOPHIC SYSTEMS INC &lt;PNS> 3RD QTR JAN 31 NET Shr 70 cts vs 56 cts\n    Net 6,197,000 vs 4,880,000\n    Revs 24.1 mln vs 17.1 mln\n    Nine mths\n    Shr 1.38 dlrs vs 1.20 dlrs\n    Net 12.1 mln vs 10.4 mln\n    Revs 52.5 mln vs 41.8 mln\n Reuter\n&#3;',0
'FORMER TREASURY OFFICIAL URGES CURRENCY REFORMS Former Treasury official C. Fred\nBergsten said a new exchange rate system is needed to replace\nthe fixed and flexible exchange rate systems which he said had\nnot worked.\n    \"I prefer a move to \'target zones\' in which the major\ncountries would determine ranges of 15-20 pct within which they\nwould pledge to hold their exchange rates by direct\nintervention and, as necessary, by changes in monetary and\nother policies,\" Bergsten, now the director of the Institute\nfor International Economics, said in a statement to a House\nBanking subcommittee.\n    \"The substantial correction of the exchange rate that has\noccurred since early 1985 is enormously welcome, and should\nproduce a sizeable reduction in the U.S. trade deficit this\nyear and next, but the imbalance will not fall much below 100\nbillion dlrs on present policies, so much more is needed,\" he\nsaid.\n Reuter\n&#3;',0
'KNUTSON MORTGAGE CORP &lt;KNMC> SETS QUARTERLY Qtly div 10 cts vs 10 cts prior\n    Pay April 13\n    Record March 13\n Reuter\n&#3;',0
'FORD MOTOR CO OF CANADA LTD 4TH QTR SHR 8.17 DLRS VS 55 CTS\n ',0
'YUGOSLAVIA WHEAT FREE OF WINTERKILL - USDA There was no evidence of winterkill\nin Yugoslavian winter wheat during field travel along a line\nrunning northwest from Belgrade to near Maribor, the U.S.\nAgriculture Department\'s counselor in Belgrade said in a field\nreport.\n    The report, dated February 26, said there is evidence of\ndelayed germination in most areas due to late seeding last fall\nbecause of dry conditions.\n    However warm temperatures over the past three weeks have\npromoted some early growth and will help the crop catch up on\nlast fall\'s late seeding, it said.\n    Some Yugoslav agriculture officials are concerned about the\nsituation because warm temperatures have brought the grain out\nof dormancy and taken away snow protection a little early, the\nreport said.\n    Cold temperatures over the next month could cause damage\nunder these conditions, they said.\n    The report said all wheat farmers contacted during the\nfield trip were optimistic about the crop and the way it\nemerged from winter.\n Reuter\n&#3;',1
'AUSIMONT COMPO NV &lt;AUS> 4TH QTR NET Shr 42 cts vs 39 cts\n    Net 12.3 mln vs 9,382,000\n    Sales 172.0 mln vs 146.00 mln\n    Avg shrs 29.5 mln vs 24.3 mln\n    Year\n    Shr 1.63 dlrs vs 1.35 dlrs\n    Net 45.7 mln vs 30.0 mln\n    Sales 665.5 mln vs 446.2 mln\n    Avg shrs 28.0 mln vs 22.3 mln\n    NOTE: translated at 1,339 Italian lire to dollar.\n Reuter\n&#3;',0
'NORTON &lt;NRT> TO SELL SOUTH AFRICAN OPERATIONS Norton co said it has agreed to\nsell its remaining South African business, Norton co Pty Ltd,\nto &lt;Global Mining and Industrial Corp> of South africa for\nundisclosed terms.\n    The company said the unit accounts for less than two pct of\nNorton revenues and is being sold because \"Growing societal\npressures in the United States and the unsettled situation in\nsouth Africa had required a disproportionate amount of\nmanagement tiome to oversee.\"\n    Norton said the unit is profitable. \n    Norton said it will provide the South Afrcian unit with\nfuture technical support, and products makde under that\nagreement will continue to be marketed under the Norton\ntrademark.\n Reuter\n&#3;',0
'CANADA CURRENT ACCOUNT DEFICIT UP IN QUARTER Canada\'s current account deficit widened\nto a seasonally adjusted 2.27 billion dlrs in the fourth\nquarter from a deficit of 1.94 billion dlrs in the third,\nStatistics Canada said.\n    The shortfall for the full year rose to 8.81 billion dlrs\nfrom 1985\'s 584 mln dlr deficit, the federal agency said.\n    The agency said the rise in the merchandise surplus, to\n2.77 billion dlrs from 2.20 billion dlrs in the third quarter,\nwas more than offset by high deficits in servicies and\ninvestment. The total non-merchandise deficit grew to 5.04\nbillion dlrs from 4.14 billion dlrs.\n    The current account deficit was 912 mln dlrs in the fourth\nquarter of 1985.\n    In the capital account, not seasonally adjusted, there was\na total net inflow of 4.76 billion dlrs in the fourth quarter,\nup from a net inflow of 3.22 billion dlrs in the third quarter\nquarter.\n    The total net capital inflow rose to 13.74 billion dlrs in\n1986 from 7.68 billion dlr in 1985.\n Reuter\n&#3;',0
'HOME FEDERAL OF THE ROCKIES &lt;HROK> 4TH QTR LOSS Shr loss 2.07 dlrs vs profit 36 cts\n    Net loss 1,088,000 vs profit 187,000\n    Year\n    Shr loss 12.23 dlrs vs profit 17 cts\n    Net loss 645,000 vs profit 89,000\n    NOTE: Home Federal Savings and Loan Association of the\nRockies.\n    1986 net includes tax credits of 165,000 dlrs in quarter\nand 189,000 dlrs in year.\n    Net includes pretax loan loss provisions of 1,439,000 dlrs\nvs 127,000 dlrs in quarter and 1,701,000 dlrs vs 222,000 dlrs\nin year.\n Reuter\n&#3;',0
'CANADA DECEMBER GDP GAINS 1.2 PCT Canada\'s gross domestic product, by\nindustry, rose a seasonally adjusted 1.2 pct in December, the\nlargest monthly gain since April, 1986, Statistics Canada said.\n    GDP, which fell 0.2 pct in November, was 2.1 pct above the\nDecember, 1985 level, the federal agency said.\n    Output of goods producing industries rose 1.6 pct in the\nmonth, with virtually all the growth occurring in manufacturing\nand mining. Services producing industries expanded 1.0 pct.\n Reuter\n&#3;',0
'SAATCHI AND SAATCHI BUYS CLEVELAND CONSULTING Advertising agents Saatchi and Saatchi Co\nPlc &lt;SACHY> said it was buying &lt;Cleveland Consulting Associates\nInc> for an initial consideration of 2.0 mln dlrs.\n    Additional payments may be made annually through the year\nending March 31, 1991 to bring the total consideration up to\n9.5 pct of Cleveland\'s average post-tax profits in the last two\nyears of the period.\n    The purchase of Cleveland is a further step in Saatchi and\nSaatchi\'s fast growing consulting industry, the company said.\nIt said its consulting operations now provide a platform for\nmajor future expansion.\n    For the 12 months ended 31 March 1986, Cleveland had\n479,000 dlrs in pretax profits and forecasts one mln for 1987.\n    At the Saatchi and Saatchi annual meeting today, the\ncompany reported a particularly strong start to the current\nyear, with profits sharply higher than the same period last\nyear.\n    Saatchi and Saatchi shares rose one pence on the Cleveland\nannouncement to 885p after yesterday\'s 870p close.\n Reuter\n&#3;',0
'UNILEVER\'S &lt;UN> CHESEBROUGH OFFERS TO SELL BASS Chesebrough-Pond\'s Inc, recently\nacquired by a unit of Unilever N.V., said it is offering to\nsell its Bass shoe division, as a result of an\nongoing evaluation of the long-term direction of its\nbusinesses.\n    The diversified maker of health and beauty aids, said it\nacquired Falmouth, Maine-based G.H. Bass and Co in 1978, when\nthe company reported annual sales of 59 mln dlrs. Bass is known\nfor its high-quality casual shoes.\n    Chesebrough said Bass\'s 1986 sales exceeded 170 mln dlrs.\n Reuter\n&#3;',0
'CONTINENTAL &lt;GIC> SEES 1987 NET UP FROM TAX LAW Continental Corp said the fresh start\nprovision of the Tax Reform Act of 1986 may add 1.30 to 1.60 to\n1987 earnings per share.\n    The insurance holding company had net earnings of 449.6 mln\ndlrs, or, or 7.42 per share, in 1986.\n    John Loynes, Continental chief financial officer, said the\nfresh start provision allowed the company to discount opening\ntax reserves to January 1, 1987, which released deferred taxes\ninto earnings.\n    Loynes said the provision\'s potential benefit would decline\ngradually over the next four years, during which time\nContinental will pay 250 mln to 350 mln dlrs more in taxes.\n    Loynes added, however, the higher taxes are not expecetd to\nhave a significant impact on earnings.\n Reuter\n&#3;',0
'FORD MOTOR CO OF CANADA LTD &lt;FC> 4TH QTR NET Shr 8.17 dlrs vs 55 cts\n    Net 67.7 mln vs 4.5 mln\n    Revs 3.67 billion vs 3.54 billion\n    Year\n    Shr 12.19 dlrs vs 24.00 dlrs\n    Net 101.1 mln vs 199.0 mln\n    Revs 14.33 billion vs 13.35 billion\n    Note: 90 pct owned by Ford Motor Co &lt;F>\n Reuter\n&#3;',0
'ROYAL BANK OF CANADA 1ST QTR SHR 88 CTS VS 1.22 DLRS\n ',0
'BELGIAN MINISTER SEES NEW ACCORD ON EC OILS/FATS Belgian Foreign Trade Minister Herman\nDe Croo said he believed there would be a compromise within the\nEuropean Community, EC, on its proposed tax on vegetable fats\nand oil, averting a pledged tough trade response by the United\nStates.\n    De Croo, in Washington for talks with Administration\nofficials and Congressional leaders, said at a news conference\nthere is a battle within the community on the tax on fats and\noils used in the 12 EC countries.\n    But he added, \"I do not think it will be a big issue because\nthere will be a big debate inside Europe,\" adding \"so there will\nbe a compromise.\"\n    U.S. Trade Representative Clayton Yeutter said yesterday\nthat if the community went ahead with the tax, the United\nStates would respond \"vigorously\" to protect its trade rights and\naccess to community markets.\n    De Croo also said he thought the community would postpone\nits April 28 deadline for imposing new slaughterhouse rules to\ncover all meats brought into EC nations if some progress was\nmade toward resolving differences with the United States.\n    U.S. officials say its rules now meet health standards and\nthe EC should require equivalent but not identical standards.\n    He also told reporters he hoped the community could deal\nwith another controversial health proposal that would forbid\nthe feeding of hormones to cattle, which is also opposed by the\nUnited States.\n    De Croo gave no deals on how he though the issue might be\nresolved. That rule is go into effect on January 1, 1988.\n    He said U.S. cattlemen say there is no reason to change\nslaughterhouse practices in April if the meat is to be banned a\nfew months later by the hormone rule.\n Reuter\n&#3;',0
'ANITEC IMAGE TECHNOLOGY CORP &lt;ANTC> 2ND QTR NET Shr 33 cts vs 28 cts\n    Net 3,722,000 vs 3,103,000\n    Sales 33.0 mln vs 31.8 mln\n    Avg shrs 11.2 mln vs 11.1 mln\n    1st half\n    Shr 68 cts vs 58 cts\n    Net 7,585,000 vs 6,346,000\n    Sales 65.9 mln vs 61.3 mln\n    Avg shrs 11.2 mln vs 11.0 mln\n    NOTE: Share adjusted for three-for-two October 1986 stock\nsplit.\n Reuter\n&#3;',0
'DUTCH MONEY MARKET DEBT BARELY CHANGED IN WEEK Loans and advances from the Dutch\ncentral bank to the commercial banks were barely changed at\n12.9 billion guilders in the week up to and including March 2,\nthe central bank weekly return showed.\n    The Treasury\'s account with the bank dropped 1.3 billion\nguilders. Dealers said a larger amount of funds in the form of\ninterest and repayments on state loans went out than came in\nthe form of tax payments to the state.\n    Notes in circulation rose 360 mln to 27.7 billion as the\npublic withdrew cash to celebrate this week\'s Carnival festival\nor take an end-of-winter holiday break, dealers said.\n    Current money market rates are at 5-3/4 to 6-1/4 pct for\ncall money against 5-1/4 to 5-3/8 a week ago, and between\n5-5/16 and 5-9/16 pct against 5-1/4 to 5-1/2 for one to 12\nmonth periods, dealers said.\n    The cause for the rise was a rather tight 4.8 billion\nguilders of special advances set by the Bank yesterday compared\nwith 8.0 billion guilders for the previous set, dealers added.\n    They expect the money market shortage to continue around 12\nbillion guilders this week.\n    The weekly return showed total Dutch gold and currency\nreserves rose 11.3 mln guilders to 56.0 billion guilders.\n REUTER\n&#3;',0
'DASA CORP &lt;DASA> YEAR NET Shr profit three cts vs loss 11 cts\n    Net profit 507,000 vs loss 1,823,000\n    Revs 11.2 mln vs 204,000\n Reuter\n&#3;',0
'GROUP TRIMS MATERIAL SCIENCES &lt;MSC> STAKE An investor group led by Central\nNational-Gottesman Inc, a New York investment firm, and its\nexecutive vice president, Edgar Wachenheim, said they cut their\nstake in Material Sciences Corp to less than five pct.\n    In a filing with the Securities and Exchange Commission,\nthe group said it sold 19,500 Material Sciences common shares\nbetween Feb 11 and 19 at prices ranging from 24.00 to 27.648\ndlrs a share, leaving it with 239,500 shares, or 4.7 pct.\n    As long as the group\'s stake remains below five pct, it is\nnot required to disclose further dealings in Material Sciences\ncommon stock.\n Reuter\n&#3;',0
'FED SETS 1.5 BILLION DLR CUSTOMER REPURCHASE, FED SAYS\n ',0
'ADC TELECOMMUNICATIONS INC &lt;ADCT> 1ST QTR NET Periods ended Jan 31\n    Shr 28 cts vs 35 cts\n    Net 2,374,000 vs 2,987,000\n    Sales 35.2 mln vs 34 mln\n    Backlog 36.8 mln vs 33.9 mln\n Reuter\n&#3;',0
'TYLAN CORP &lt;TYLN> TO SELL FURNACE PRODUCT LINE Tylan Corp aid it has retained\nthe investment banking firm Kahn and Harris to sell its furnace\nproduct line.\n    The company said it has already been contacted by several\npotential buyers.\n    In 1986, Tylan\'s furnace product shipments in the U.S.\nrepresented 10.3 mln dlrs of the company\'s total net sales of\n28.4 mln dlrs.\n Reuter\n&#3;',0
'&lt;ROYAL BANK OF CANADA> 1ST QTR JAN 31 NET Shr basic 88 cts vs 1.22 dlrs\n    Shr diluted 83 cts vs 1.10 dlrs\n    Net 114,108,000 vs 140,389,000\n    Avg shrs 107.5 mln vs 100.5 mln\n    Loans 66.4 billion vs 65.9 billion\n    Deposits 82.8 billion vs 84.4 billion\n    Assets 98.7 billion vs 96.7 billion.\n Reuter\n&#3;',0
'FED ADDS RESERVES VIA CUSTOMER REPURCHASES The Federal Reserve entered the U.S.\nGovernment securities market to arrange 1.5 billion dlrs of\ncustomer repurchase agreements, a Fed spokesman said.\n    Dealers said Federal funds were trading at 6-1/4 pct when\nthe Fed began its temporary and indirect supply of reserves to\nthe banking system.\n Reuter\n&#3;',0
'SUPRADUR COS INC &lt;SUPD> YEAR NET Oper shr 1.58 dlrs vs 77 cts\n    Oper net 1,648,000 vs 817,000\n    Sales 25.7 mln vs 20.5 mln\n    NOTE: Net excludes discontinued operations gain 451,000\ndlrs vs loss 4,310,000 dlrs.\n Reuter\n&#3;',0
'U.S. SETS CORN DEFICIENCY PAYMENT HALF PIK CERTS The upcoming five-month deficiency\npayments to corn and sorghum farmers will be made half in cash\nand half in generic commodity certificates, a senior\nAgriculture Department official told Reuters.\n    Around 300 mln dlrs of the in-kind certificates, or\n\"certs,\" will be mailed out to farmers around March 15 or 16,\nTom von Garlem, Assistant Deputy Administrator for USDA\'s state\nand county operations, said.\n    The decision to make the payments in a 50/50 cash/certs\nratio was made Monday, but payments to producers will be\ndelayed until mid-month due to a problem with USDA\'s computer\nprogram, von Garlem said.\nget 11.5 cts per bushel in this next payment -- 5.75 cts in\ncerts and around 5.5 cts cash (5.75 cts minus Gramm-Rudman).\n    Farmers who did not receive advance deficiency payments at\nsignup will receive 63 cts per bushel. Slightly more than half\nof this payment will be in cash, von Garlem said, but he said\nthis will not markedly upset the 50/50 ratio, since most\nfarmers got advance payments.\n    \"The final certificate payments will be very close to 300\nmln dlrs,\" he said.\n    When asked if the Office of Management and Budget had\nresisted the cash/certs ratio, the USDA official said that \"we\nproposed 50/50 and OMB accepted it.\"\n Reuter\n&#3;',1
'WALLACE COMPUTER SERVICES INC &lt;WCS> 2ND QTR NET Shr 69 cts vs 64 cts\n    Net 7,046,000 vs 6,492,000\n    Sales 85.7 mln vs 79.6 mln\n    Six Mths\n    Shr 1.28 dlrs vs 1.19 dlrs\n    Net 13,098,000 vs 12,006,000\n    Sales 166.3 mln vs 153.3 mln\n    NOTE: Periods end January 31, 1987 and 1986, respectively.\n Reuter\n&#3;',0
'AMERICAN VANGUARD CORP &lt;AMGD> YEAR NET Shr 57 cts vs 27 cts\n    Net 1,002,000 vs 470,000\n    Sales 15.9 mln vs 12.0 mln\n    Note: 4th qtr data not available\n Reuter\n&#3;',0
'NORTH AMERICAN BIOLOGICALS INC &lt;NBIO> 4TH QTR Oper shr one ct vs three cts\n    Oper net 99,000 vs 327,000\n    Revs 12.1 mln vs 8,800,000\n    Avg shrs 15.5 mln vs 11.3 mln\n    Year\n    Oper shr six cts vs 11 cts\n    Oper net 841,000 vs 956,000\n    Revs 44.1 mln vs 34.4 mln\n    Avg shrs 15.3 mln vs 8,519,677\n    NOTE: Net excludes tax credits of 299,000 dlrs vs 29,00000\ndlrs in quarter and 809,000 dlrs vs 71,000 dlrs in year.\n Reuter\n&#3;',0
'OMNICOM GROUP INC &lt;OMCM> 4TH QTR NET Shr profit 27 cts vs profit 51 cts\n    Net profit 6,600,000 vs profit 12,231,000\n    Revs 211.7 mln vs 193.4 mln\n    12 mths\n    Shr loss 17 cts vs profit 1.27 dlrs\n    Net loss 4,077,000 vs profit 30,142,000\n    Revs 753.5 mln vs 673.4 mln\n    NOTE: in qtr ended 1986 the company recognized expenses of\n5,948,000 for restructing the combined operations of BBDO,\nDoyle Dane Bernbach and Needham Harper Worldwide in August 1986\nbefore tax gains. These relate primarily to the conosolidation\nand elimination of duplicate facilities and staff.\n    for the year 1986, the provisions for mergers and\nrestructuring expenses brought non-recurring expenses to\n40,292,000 before tax gains, of which 8,863,000 represented\nmerger costs and 31,429,000 related to restructuring of the\ncombine operations.\n\n Reuter\n&#3;',0
' &#2;\nCORRECTION - ASHTON-TATE ITEM\n    In Torrance, Calif., item ASHTON-TATE &lt;TATE> 4TH QTR NET,\nplease read 1986 quarter average shares as 24.7 mln, not 200.7\nmln.     \n Reuter\n&#3;\n\n',0
'CHILEAN CONSUMER PRICES RISE 1.7 PCT IN FEBRUARY Chile\'s consumer price index rose 1.7\npct in February to 562.01 (December, 1978 equals 100) after\nincreases of 2.0 pct in January and 0.9 pct in February 1986,\nthe government\'s National Statistics Institute said.\n    Inflation as measured by the index rose to 17.5 pct over\nthe 12 months to the end of February, compared with 16.6 pct\nlast month and 24.5 pct to the end of February, 1986.\n    In the first two months of the year, inflation was 3.8 pct,\nagainst 3.6 pct in the same period of 1986.\n REUTER\n&#3;',0
'COPPER STUDY GROUP CONSIDERED AT GENEVA MEETING Major copper producing and consuming\ncountries are considering a U.S. proposal to set up a study\ngroup to review the world copper market, delegates said.\n    The U.S. initiative was introduced last December at a\nmeeting held here under the auspices of the United Nations\nConference on Trade and Development (UNCTAD).\n    The U.S., the world\'s largest copper consumer and second\nbiggest producer after Chile, has proposed setting up a body to\nimprove statistics and market transparency of the copper\neconomy, and provide a forum for discussion.\n    The new body would not aim at negotiating measures to\nstabilise depressed world prices.\n    This week\'s meeting, which began yesterday, is due to end\nFriday.\n Reuter\n&#3;',0
'JAPAN BUYS 5,000 TONNES CANADIAN RAPESEED Japan bought 5,000 tonnes of Canadian\nrapeseed overnight at an undisclosed price for April shipment,\ntrade sources said.\n Reuter\n&#3;',0
'ROYAL BANK/CANADA SEES HIGHER 1987 LOAN LOSSES &lt;Royal Bank of Canada> said it\nestimates 1987 loan losses at one billion dlrs, a 25 mln dlr\nincrease over last year.\n    Royal Bank said it set its provisions \"given the continued\ndebt-servicing problems ... in the North American energy\nindustry and the uncertain outlook for energy prices,\" and also\ncontinued to add to its general provisions for loans to\ntroubled borrower countries.\n    The bank\'s loan loss provision for the first quarter ended\nJanuary 31 rose to 223 mln dlrs from 187 mln dlrs in the\nyear-ago quarter.\n    The bank said non-accrual loans, net of provisions for loan\nlosses, totalled 2.2 billion dlrs on January 31, up from 2.0\nbillion dlrs a year ago.\n    In reporting lower first quarter earnings, chairman Allan\nTaylor said problems with credit quality--particularly in loans\nassociated with the energy sector--continue to have a\nsubstantial adverse effect on the bank\'s earnings.\n    Taylor said profitability of the bank\'s international\noperations remains weak, reflecting resource-related\ndifficulties of private and public sector borrowers and\nunsatisfactory results from capital market activities.\n    Taylor said it would be premature to speculate on the\noutcome of debt resturcturing negotiations with Brazil or their\npotential impact on the Royal Bank.\n    The bank earlier reported first quarter profit fell to\n114.1 mln dlrs from 140.4 mln dlrs a year ago.\n Reuter\n&#3;',0
'PANTERA &lt;PANT> AND PIZZA &lt;PZA> AGREE TO MERGE Pantera\'s Corp said it agreed in\nprinciple to acquire Pizza Inn Inc in a cash and stock\ntransaction.\n    Under terms of the proposed transaction, each Pizza Inn\nshare can be exchanged for either three dlrs in cash plus the\nlesser of 1.4 shares of Pantera\'s common stock or 11.50 dlrs\nmarket value of Pantera\'s stock, or four dlrs in cash plus a\nunit consisting of one share of Pantera\'s stock and a\nnon-transferrable right to receive up to 0.55 share of\nPantera\'s stock under certain conditions, it said.\n    Completion of the transaction is subject to arrangement of\nfinancing, negotiation of a definitive agreement, and various\nregulatory approvals, it said.\n    Pantera\'s said Pizza Inn\'s largest shareholder, F.J.\nSpillman, previously granted Pantera\'s an option to buy more\nthan one mln shares of Pizza Inn common stock owned by him.\n    Pantera\'s also said it retained Drexel Burnham Lambert Inc\nto act as its financial advisor in connection with the merger.\nPizza Inn has retained Dean Witter Reynolds Inc to act as its\nfinancial advisor, Pantera\'s said.\n    Yesterday, Pantera\'s stock closed at 9.50 dlrs on NASDAQ,\nwhile Pizza Inn\'s stock was quoted at 12 dlrs when the Amex\nhalted trading pending the announcement of the proposed merger.\n    From its Dallas headquarters, Pizza Inn said completion of\nthe transaction is subject to certain conditions including that\nthe price of Pantera\'s stock average not less than seven dlrs\nduring the 20 trading days before the merger.\n    Under the agreement, Pizza Inn said it will still be\npermitted to complete a leveraged buyout agreement with Pizza\nInn Acquiring Corp, which has been approved by its\nshareholders, but is subject to otaining financing.\n   \n More\n&#3;',0
'SWISS MONEY MARKET PAPER YIELDS 3.286 PCT The Swiss Federal Government\'s new series\nof six-month money market certificates raised 177.5 mln Swiss\nfrancs at an issue price of 98.401 pct to give an average\nannual yield of 3.286 pct, the National Bank said.\n    Payment date is March 5.\n    The last series of six-month paper issued in January raised\n159.6 mln francs at 98.392 pct to give an average yield of\n3.251 pct.\n REUTER\n&#3;',0
'NIGERIA, GUINEA SET UP IRON ORE FIRM WITH LIBERIA Nigeria and Guinea agreed to set up a new\ncompany with Liberia to carry out the 14-year-old\nMifergui-Nimba iron ore project, an official communique said.\n    The communique was issued after two days of talks here\nbetween Guinean natural resources minister Ousmane Sylla and\nNigerian minister of mines and power Bunu Sheriff Musa.\n    Originally, Guinea held 50 pct in the project and Nigeria\n16.2 pct with firms from several other countries also involved,\nbut the project ran into problems over funding and the slump in\nworld iron ore markets.\n    Musa said Liberia was invited to join and its share will be\ndecided after a project feasibility study. This would be\ncompleted in May after which finance will be sought. Officials\nsaid the study will be undertaken with the help of the World\nBank, which is also expected to give financial support.\n    Production, originally estimated at 15 mln tonnes a year,\nwill be 12 mln initially and is expected to begin in early\n1990.\n    On an agreement between the two countries to prospect for\nuranium in Guinea, the communique said Musa and Sylla agreed\nthat because of poor market conditions, it would be extended to\ncover exploration for gold, diamonds, cobalt, nickel and\nsilver.\n Reuter\n&#3;',0
'DISTRIBUTED LOGIC CORP &lt;DLOG> 1ST QTR LOSS Qtr ended Jan 31\n    Shr loss nine cts vs profit 13 cts\n    Net loss 231,256 vs profit 341,730\n    Revs 2,793,677 vs 3,676,296\n Reuter\n&#3;',0
'CANADA INDUSTRIAL PRODUCTION UP 2.53 PCT Canadian industrial production rose 2.53\npct in December after falling 0.51 pct in November, Statistics\nCanada said.\n    The federal agency said year-over-year production was off\n0.65 pct in December, compared with a decline of 1.65 pct in\nNovember.\n Reuter\n&#3;',0
'LIFETIME &lt;LFT> TO BUY SHARES OF NIPPON LACE Lifetime Corp said it agreed to buy\nfive mln shares, or 16 pct, of &lt;Nippon Lace Co Ltd> for 3.28\ndlrs a share, or 16.5 mln dlrs.\n    It said it plans to enter the health care business in\nJapan.\n    In addition, it said &lt;Koba Electronics Co Ltd>, an\naffiliate of Lifetime, will buy four mln unissued shares, or a\n12 pct stake, of Nippon for 20 mln dlrs or five dlrs a share.\n    The company said Ohta Shoji, chief executive officer of\n&lt;Toho Mutual Life Insurance Co>, owns the majority of Koba\nElectronics\' shares. Toho Mutual Life is also the largest\nshareholder in Nippon Lace, the company said.\n    Lifetime also said the &lt;Private Bank and Trust of Zurich>,\non behalf of Lifetime director and shareholder Terence Ramsden,\nintends to subscribe for two mln shares of Nippon Lace at the\nsame price paid by Lifetime.\n Reuter\n&#3;',0
'INTERMEDICS INC &lt;ITM> 1ST QTR NET Oper shr 26 cts vs 18 cts\n    Oper net 2,877,000 vs 1,363,000\n    Revs 44.3 mln vs 40.8 mln\n    Avg shrs 10.9 mln vs 10.5 mln\n    NOTE: prior qtr excludes loss 475,000, or five cts per\nshare, for discontinued operations for the sale of subsidiaries\nIntermedics Intraocular Inc, Electronics Inc, and Intermedics\nInfusaid Inc.\n    Excludes 1987 qtr 1,694,000 operating loss carryforwards vs\n78,000 qtr prior.\n Reuter\n&#3;',0
'BENEFICIAL CORP TO SELL INSURANCE UNIT, REMOVING COMPANY FROM INSURANCE BUSINESS\n ',0
'FORD CANADA CUTS ANNUAL DIVIDEND BY SIX DLRS TO SIX DLRS CASH A SHARE\n ',0
'PAINE WEBBER RESIDENTIAL REALTY INC &lt;PWM> DIV Qtrly 25 cts vs 16 cts\n    Pay March 30\n    Record March 13\n    NOTE: Prior qtr is for two months operation, October and\nNovember and represents a parital dividend.\n Reuter\n&#3;',0
'OMNICOM GROUP &lt;OMCM> SETS REGULAR PAYOUT Qtlry div 24.5 cts vs 24.5 cts\n    Pay April 6\n    Record March 16\n Reuter\n&#3;',0
'KNUTSON MORTGAGE &lt;KNMC> SEES STRONG SECOND QTR Knutson Mortgage Corp said it\nexpects strong earnings performance for its initial fiscal\nsecond quarter earnings ending March 31 since going public in\nSeptember 1986.\n    Albert Holderson, Knutson chairman, said he expects\nearnings of about 40 cts per share for the quarter as a result\nof a strong mortgage business during the quarter.\n    Knutson earlier declared a quarterly dividend of 10 cts a\nshare, versus 10 cts a share prior, payable April 13 to\nshareholders of record March 13.\n Reuter\n&#3;',0
'DANISH RESERVES RISE IN FEBRUARY Denmark\'s net official reserves rose\nto 36.34 billion crowns in February from 28.00 billion in\nJanuary, against a revised 45.85 billion in February 1986, the\ncentral bank said in its monthly balance sheet report.\n    Total net reserves, including reserves held by commercial\nand major savings banks, rose to 38.26 billion crowns from\n30.11 billion in January compared with a revised 35.99 billion\nin February last year.\n    The bank said provisional figures showed net registered\nprivate and public capital imports of 10.3 billion crowns in\nFebruary.\n REUTER\n&#3;',0
'INTERMEDICS INC &lt;ITM> 1ST QTR FEB ONE NET Oper shr 26 cts vs 18 cts\n    Oper net 2,877,000 vs 1,838,000\n    Revs 44.3 mln vs 40.8 mln\n    NOTE: Current 1st qtr oper net excludes operating loss\ncarryforward of 1,694,000 or 16 cts per share. 1986 1st qtr\noper net excludes loss carryforward of 78,000 dlrs or one ct\nper share and loss from discontinued operations of 475,000\ndlrs.\n Reuter\n&#3;',0
'CARME INC &lt;CAME> 2ND QTR JAN 31 NET Shr nine cts vs one ct\n    Net 247,489 vs 27,301\n    Sales 1,933,107 vs 796,613\n    Six mths\n    Shr 21 cts vs five cts\n    Net 565,106 vs 121,997\n    Sales 3,781,970 vs 1,778,110\n Reuter\n&#3;',0
'WILLCOX AND GIBBS INC &lt;WG> 4TH QTR NET Shr 42 cts vs 76 cts\n    Net 2.3 mln vs 3.3 mln\n    Revs 72.3 mln vs 59.8 mln\n    Year\n    Shr 1.48 dlrs vs 2.59 dlrs\n    Net 7.6 mln vs 11.1 mln\n    Revs 261.7 mln vs 224.7 mln\n    NOTE: 1985 net includes extraordinary gain of 1.5 mln dlrs\nor 35 cts per share in 4th qtr and 5.1 mln or 1.19 dlrs for the\nyear.\n   \n Reuter\n&#3;',0
'OMNICOM GROUP INC &lt;OMCM> 4TH QTR NET Shr profit 27 cts vs profit 51 cts\n    Net profit 6,600,000 vs profit 12.2 mln\n    Revs 211.7 mln vs 193.4 mln\n    Qtly div 24.5 cts vs 24.5 cts\n    Avg shrs 24.2 mln vs 23.8 mln\n    Year\n    Shr loss 17 cts vs profit 1.27 dlrs\n    Net loss 4,077,000 vs profit 30.1 mln\n    Revs 753.5 mln vs 673.4 mln\n    Avg shrs 24.4 mln vs 23.7 mln\n    NOTE: Qtly div payable April six to holders of record March\n16.\n    1986 4th qtr and year net includes a charge of 5.9 mln dlrs\nand 31.4 mln dlrs, respectively, for corporate restructuring.\n\n Reuter\n&#3;',0
'FORD MOTOR CO OF CANADA LTD&lt;FC> CUTS ANNUAL DIV Annual div six dlrs vs 12 dlrs prior\n    Pay March 19\n    Record March 13\n    Note: 1986 payout includes two dlrs a share extra dividend\n    1985 payout includes four dlrs a share extra dividend\n Reuter\n&#3;',0
'TOTAL U.S. COPPER STOCKS LOWER IN JANUARY Total copper stocks held by U.S. rod\nmills and refiners (including wirebars, cathodes, scrap, rod\nand in-process material) dropped to 155,467,000 lbs at the end\nof January from 203,513,000 lbs at the end of December, the\nAmerican Bureau of Metal Statistics said.\n    Rod stocks held by refiners and rod mills decreased to\n61,384,000 lbs in January from 69,986,000 lbs in December.\n    Cathode inventories at rod mills fell to 86,456,000 lbs in\nJanuary from 124,409,000 lbs in December, while wirebar stocks\nwere lower at 3,508,000 lbs versus 4,913,000 lbs in December.\n    December rod mill wirebar use nearly doubled to 3,148,000\nlbs in January from 1,540,000 lbs in December. Cathode use by\nmills and refiners increased to 255,266,000 lbs in January from\n238,821,000 lbs in December.\n Reuter\n&#3;',0
'ONE OFFER FOR SRW WHEAT ON CALL SESSION, NO MILO One offer but no bid was posted for SRW\nwheat on the call session at the St Louis Merchants Exchange\ntoday. There were no bids or offers for milo.\n    June 15-July 15 bill of lading for wheat was offered at 17\nover July, no comparison, no bid.\n Reuter\n&#3;',1
'UNITED HEALTHCARE CORP &lt;UNIH> 4TH QTR NET Shr 10 cts vs 13 cts\n    Net 1,553,000 vs 1,541,000\n    Revs 73.1 mln vs 32.1 mln\n    Avg shrs 15,474,000 vs 12,316,000\n    Year\n    Shr 47 cts vs 24 cts\n    Net 7,241,000 vs 2,835,000\n    Revs 216.2 mln vs 101.2 mln\n    Avg shrs 15,492,000 vs 11,921,000\n    Note: Net income includes extraordinary profit from\nrecognition of tax loss carryforward of 920,000 dlrs, or six\ncts a share, in 1986 year, and of 785,000 dlrs, or seven cts a\nshare, in both 1985 periods.\n Reuter\n&#3;',0
'RAYTECH CORP &lt;RAY> 4TH QTR DEC 28 NET Shr profit 78 cts vs loss 1.05 dlrs\n    Net profit 2,336,000 vs loss 3,002,000\n    Revs 26.0 mln vs 26.7 mln\n    Year\n    Shr profit 1.59 dlrs vs loss 6.35 dlrs\n    Net profit 4,688,000 vs loss 18.2 mln\n    Revs 113.5 mln vs 112.4 mln\n    NOTE: 1986 4th qtr and yr includes loss carryfoward of\n534,000 dlrs and 1,662,000 dlrs, respectively.\n Reuter\n&#3;',0
'DATAMAG INC &lt;DMAG> 1ST QTR DEC 31 LOSS Net loss 92,623 vs profit 11,209\n    Sales 93,483 vs 189,388\n    Note: per share data not available, as company went public\nin January, 1987.\n Reuter\n&#3;',0
'ROYAL BANK SEES IMPROVED RESULTS &lt;Royal Bank of Canada>, in reporting a\n19 pct drop in first quarter earnings, said it expects to\nreport improved results in future earnings periods.\n    \"Healthy consumer credit growth, record fee-based income,\nhighly profitable securities and foreign exchange trading, and\na solid capital position...combined with the restraint of\nnon-interest expenses, should lead to improved results in the\nperiods ahead,\" chairman Allan Taylor said in a statement.\n    The bank earlier reported profit for the first quarter\nended January 31 fell to 114 mln dlrs from 140 mln dlrs a year\nago.\n    Taylor said loans to the energy sector continue to\nsubstantially hurt earnings while profitability of the bank\'s\ninternational operations remains weak, reflecting\nresource-related difficulties of private and public sector\nborrowers and unsatisfactory results from capital market\nactivities.\n    The bank said earnings from domestic operations rose to 103\nmln dlrs in the first quarter from 98 mln dlrs a year ago while\nearnings from international operations plunged to 11 mln dlrs\nfrom 42 mln dlrs last year.\n    Royal Bank said first quarter international net interest\nincome declined from last year, reflecting reduced revenues\nfrom international investment banking as well as a significant\nloss on disposal of its affiliate in Trinidad and Tobago.\n    Other income rose to 251 mln dlrs from 220 mln dlrs last\nyear. The rise was due to higher commercial banking and retail\ndeposit service fees, and higher foreign exchange revenue but\nlower securities commissions from international investment bank\noperations partly offset the gains, Royal Bank said.\n    The bank said a two billion dlr increase in total assets to\n98.7 billion dlrs was due mainly to continued growth in\nconsumer lending, particularly residential mortgages.\n Reuter\n&#3;',0
'BELGIAN SAYS EC WOULD REACT TO TEXTILE BILL Belgian Foreign Trade Minister Herman\nDe Croo said if Congress passed legislation curbing world\ntextile imports the only way the European Community (EC) could\nreact was to retaliate.\n    De Croo said at a news conference \"if you limit textile\nimports, you will re-orient textiles to Europe.\"\n    And that he said would trigger EC taxes on U.S. goods.\n    Congress passed a textile bill two years ago, but it was\nvetoed by President Reagan on grounds that curbing imports to\nprotect the domestic textile industry would trigger retaliation\nU.S. trading partners.\n    A similar bill has been introducted this year, in a\nCongress with a bigger Democratic majority and with a President\nweakened by the Iran scandal.\n    De Croo, here for talks with Administration officials and\nCongressmen, said if a textile bill passed, \"the only way we\ncould react would be retaliation, and it would cause more\nretaliation, which is not a good way to deal with problems.\"\n    He said if a textile bill was enacted, \"we will impose taxes\non a lot of American products.\"  He said \"it would be stupid. We\nhave to avoid that.\"\n    He said Congressmen seem upset mosty with Japan, because of\nits massive trade suprlus with the United States, and not with\nEC nations, but EC nations will be hurt by the diverted \nshipments of Asian textiles.\n    De Croo also criticized the way U.S. officials try to solve\nEC trade issues, saying \"each time we come in contact, it a\nconflict contact. The clouts are coming fom the West.\"\n    He said it then is a crisis atmosphere with officials cross\nthe Atlantic and dramatized with headlines.\n    \"This is not the way to work in a serious way between two\nbig powers,\" De Croo said.\n   \n reuter\n&#3;',0
'KAY CORP &lt;KAY> 4TH QTR NET Oper shr 25 cts vs 1.21 dlrs\n    Oper net 1,366,000 vs 6,287,000\n    Revs 251.3 mln vs 107.1 mln\n    Year\n    Oper shr 1.10 dlrs vs 1.06 dlrs\n    Oper net 5,552,000 vs 4,982,000\n    Revs 827.5 mln vs 434.4 mln\n    NOTE: Oper net excludes results of Kay Jewelers Inc, a\nformer subsidiary. On Dec 31, 1986 company distributed\nremaining 80.4 pct interest in subsidiary to Kay Corp holders.\n    1985 amts restated in connection with company\'s\ndistribution of investment in Kay Jewelers Inc.\n    1986 4th qtr and yr oper net excludes 8,308,000 dlrs or\n1.52 dlrs per share, and 7,774,000 dlrs or 1.54 dlrs per share,\nrespectively, for equity in net income of spun-off unit. 1985\n4th qtr and yr oper net excludes 6,806,000 dlrs or 1.28 dlrs\nper share and 5,770,000 dlrs or 1.09 dlrs per share,\nrespectively, for equity in net earnings of spun-off unit.\n    1985 oper net also excludes 2,778,000 or 52 cts per share\nfor adoption of new pension accounting rules and ine cts per\nshare for gain from assets sales.\n Reuter\n&#3;',0
'ROSTENKOWSKI SAYS HE WILL OPPOSE PROTECTIONIST TRADE BILL IN U.S. HOUSE\n ',0
'PANTASOTE INC &lt;PNT> 4TH QTR LOSS Oper shr loss four cts vs loss 33 cts\n    Oper net loss 154,000 vs loss 1,301,000\n    Sales 30.0 mln vs 27.0 mln\n    Year\n    Oper shr profit 60 cts vs loss 16 cts\n    Oper net profit 2,364,000 vs loss 608,000\n    Sales 113.5 mln vs 132.8 mln\n    NOTE: Net excludes extraordinary charges from provision for\nroofing products warranties and costs from sale of\nprinting/laminate division of 320,000 dlrs vs 10.3 mln dlrs in\nquarter and 4,3200,000 dlrs vs 12.7 mln dlrs in year.\n    Net excludes tax credits of 62,000 dlrs vs 41,000 dlrs in\nquarter and 127,000 dlrs vs 88,000 dlrs in year.\n Reuter\n&#3;',0
'ROSTENKOWSKI OPPOSES PROTECTIONIST TRADE BILL House Ways and Means Committee\nChairman Dan Rostenkowski said Congress must avoid a temptation\nto pass a protectionist trade bill this year.\n    In remarks prepared for delivery before the National Press\nClub, Rostenkowski, D-Ill., predicted major trade legislation\nwill be sent to President Reagan by the end of this year.\n    But he warned that his \"conciliatory message\" on the trade\nbill did not mean he would oppose a proposal that would warn\nother countries their access to the American market would be\ncurtailed unless they opened their markets to U.S. goods.\n    \"Complaints about (foreign trade) restraints are not a\nsmoke screen for protectionism, they a plea for fairness,\"\nRostenkowski said.\n    \"It is only reasonable to ask the nations that have denied\nus access to open up in return for continued freedom in the\nAmerican market,\" he added.\n    However, he said there would likely be changes in the\nmarket access proposal from the plan which cleared the House\nlast year. That plan would have set a specific time table for\nforeign countries to ease import restraints or they would face\na 25 pct cut in exports to the United States.\n Reuter\n&#3;',0
'IMTEC &lt;IMTC> GETS MERGER OFFER Imtec Inc said some\nshareholders of Computer Identics Inc &lt;CIDN> have proposed a\nmerger of the two companies.\n    The company said the shareholders had previously expressed\ndissatisfaction with Computer Identics\' management and had\ninformed Computer Identics that the present board no longer had\nthe support of a majority of shares held.\n    It said the shareholders had called for the resignation of\nall but one of Computer Identics\' directors and suggested that\na new board pursue merger talks with Imtec.  But Imtec said no\nmerger talks havew yet taken place.\n Reuter\n&#3;',0
'KAY JEWELERS INC &lt;KJI> 4TH QTR NET Shr 1.62 dlrs vs 1.33 dlrs\n    Net 10.3 mln vs 8,459,000\n    Revs 127.5 mln vs 95.7 mln\n    Year\n    Shr 1.52 dlrs vs 1.20 dlrs\n    Net 9,669,000 vs 7,481,000\n    Revs 278.1 mln vs 232.00 mln\n          \n Reuter\n&#3;',0
'ICO PACT UNLIKELY BY AUTUMN - ITALIAN ADVISER The prospects of the\nInternational Coffee Organization (ICO) reaching an agreement\non coffee export quotas before September appear dim, Alberto\nHesse, former president of the European Coffee Federation,\nsaid.\n    \"There is no real goodwill in certain delegations to go to\nquotas,\" Hesse, who advises the Italian Foreign Affairs Ministry\non coffee issues, told Reuters. He declined to name the\ndelegations.\n    A special meeting between importing and exporting countries\nended in a deadlock late yesterday after eight days of talks\nover how to set quotas.\n    The ICO executive board will meet from March 30 to April 1\nbut the full council is not due to meet again until September.\n\"I am not optimistic about an agreement soon,\" Hesse said.\n Reuter\n&#3;',0
'WALL STREET STOCKS/ANACOMP INC &lt;AAC> Anacomp Inc, one of the most actively\ntraded NYSE issues, rose today as at least one analyst expected\nearnings to be boosted by its planned acquisition of a\nmicrographics company.\n    Anacomp rose 1/2 to 6-3/4 on volume of 950,000 shares after\ntrading as high as seven earlier.\n    Howard Harlow, analyst at Whale Securities Corp, said\nAnacomp\'s earnings for fiscal 1987 ending September 31 could be\ndoubled to 80 cts a share from the 40 cts a share he had\nforecast before Anacomp agreed to buy DatagraphiX, a\nmicrographics firm, from General Dynamics Corp &lt;GD>.\n    \"The company can earn 80 cts a share in fiscal 1987, maybe\nas much as a dlr a share, because of DatagraphiX,\" Harlow said.\n\"Most of the benefit will be in the fourth qtr because it will\nintegrate the company in the second half.\"\n    Anacomp\'s earnings will be less if it has problems\nintegrating DatagraphiX, Harlow said.\n    A spokesman at Anacomp said the company expects to complete\nits deal for DatagraphiX later this month. She would not say\nhow much it will pay for DatagraphiX, but noted that\nDatagraphiX contributed 10 mln dlrs in earnings to General\nDynamics on revenues of 239 mln dlrs in 1986.\n    Harlow said a fellow analyst at Whale Securities estimates\nthat Anacomp will pay between 100 mln dlrs to 150 mln dlrs for\nDatagraphiX. \"The estimates on the street narrow it down to\nbetween 110 mln dlrs and 130 mln dlrs,\" Harlow added.\n    Anacomp reported net of 2.8 mln dlrs or nine cts a share in\nits first qtr ended December 31, up from 301,000 dlrs or one ct\na share.\n    In Anacomp\'s fiscal 1986 it earned 4,073,000 dlrs or 13 cts\na share.\n    Whale Securities recommends buying the stock, Harlow said.\n Reuter\n&#3;',0
'CORRECTED - LIFETIME&lt;LFT> TO BUY NIPPON LACE SAHRES Lifetime Corp said it agreed to buy\nfive mln shares or 16 pct of &lt;Nippon Lace Co Ltd> for 3.28 dlrs\na share, or 16.5 mln dlrs.\n    It said it plans to enter the health care business in\nJapan.\n    In addition, it said &lt;Koba Electronics Co Ltd>, an\naffiliate of Nippon, will buy four mln unissued shares, or a 12\npct stake, of Lifetime for 20 mln dlrs or five dlrs a share. -\nCorrects to show Nippon\'s affiliate Koba buying stake in\nLifetime.\n   \n Reuter\n&#3;',0
'U.K. EXPORTS BODY GETS NEW EXECUTIVE DIRECTOR Export Credits Guarantee Department has\nnamed Malcolm Stephens, director of export finance at Barclay\'s\nBank Plc and a former career civil servant at ECGD for 17\nyears, to the post of executive director, a department\nspokesman said.\n    Stephens replaces Jack Gill, who is retiring early aged 57.\n    A drop in the ECGD\'s business volume and a rise in its debt\nto the Exchequer have led to criticism in Parliament in recent\nyears.\n    Stephens said the fall in business volume was a top\nconvern, adding that the department may have to compete more\naggressively with private insurance firms providing similar\nservices.\n    The department\'s annual report for the year ended March 31,\n1986, showed exports insured by the department fell to 15.7\nbillion stg from 17.4 billion the year before, while its debt\nto the Exchequer almost doubled to 756 mln stg.\n    Stephens said he had no specific list of changes. But among\nhis chief concerns was the weakened condition of lesser\ndeveloped countries and their ability to pay for their imports.\n    The agency will have to review its policies on insuring\nexport credits to lesser credits on a country by country basis,\nhe said. \"Large lump political risk insurance is the sort of\nthing we want to take a look at.\"\n    \"You have to try to look forward to see if you are simply in\na peak and trough situation or it is a more long term thing,\"\nStephens said, in response to a qustion about whether ECGD will\nstrike more countries from its list of political risk insurance\nrecipients.\n    He noted that certain countries have already been removed\nfrom the list.\n REUTER\n&#3;',0
'OILS/FATS STOCKS SEEN FALLING SHARPLY IN 1986/87 Visible stocks of 17 oils and fats are\nprobably peaking now and are likely to fall sharply by October\n1 this year, the Oil World newsletter said.\n    Oil World forecast that stocks of oils and fats may be cut\nto only 9.8 mln tonnes at the end of this season, compared with\n10.6 mln a year earlier.\n    Its survey covered  13 oils -- soy, cotton, groundnut, sun,\nrape, sesame, corn, olive, coconut, palmkernel, palm, lin and\ncastor  -- and four animal oils and fats -- butter, fish oil,\nlard and tallow/greases.\n    Oil World\'s analysis predicted only a slight production\nincrease of 0.5 mln tonnes in the year to end-September 1987,\ncompared with increases of 3.6 mln and 4.0 mln tonnes in the\nprevious two seasons.\n    It said world consumption was continuing to rise. Unusually\nlow prices prevailing since early 1986 had stimulated demand\nfor both food and non-food purposes, it said.\n    World consumption  could increase by a record 2.8 mln\ntonnes to 71.8 mln tonnes this season and would be even higher\nif the Indian government did not artificially curb domestic\ndemand.\n    Oil World said it did not expect the European Community\n(EC) to introduce a vegetable oils tax, but if such a tax were\nintroduced it would have a negative impact on EC consumption.\n Reuter\n&#3;',0
'COLOMBIA TRADERS SAY NEW COFFEE STRATEGY VITAL Coffee producing countries must quickly\nmap out a fresh common strategy following the failure of the\nInternational Coffee Organization, ICO, to reach agreement on\nexport quotas, Gilberto Arango, president of Colombia\'s private\ncoffee exporters\' association, said.\n    Arango told Reuters that the most intelligent thing now\nwould be to seek a unifying stand from producers, including\nBrazil, in order to map out a strategy to defend prices.\n    An ICO special meeting ended last night in London with\nexporting and consuming nations failing to agree on a\nresumption of export quotas, suspended one year ago after\nprices soared following a prolonged drought in Brazil.\n    Arango said there would be no imminent catastrophe but\npredicted that over the short term prices would undoubtedly\nplummet.\n    However, he said the market should also take into account\nevident factors such as Brazil\'s low stocks and the sale of the\nnear totality of the Central American crop.\n    Trade sources said Colombia\'s coffee was today quoted at\n1.14 dlrs a lb in New York, its second lowest price in the past\n10 years.\n    Cardenas said these countries apparently fail to understand\nthe true impact of such a failure for coffee producing nations\nas well as for industrialized countries.\n    It is difficult to believe that while efforts are made to\nsolve the problem of the developing world\'s external debt,\ndecisions are being taken which cut earnings used for repaying\nthose debts, he said.\n    \"In Colombia\'s case, we watch with consternation that,\nwhile we try to effectively combat drug trafficking, countries\nwhich support us in this fight seek to cut our jugular vein,\"\nCardenas said.\n Reuter\n&#3;',0
'TENDER LOVING &lt;TLCI>, STAFF &lt;STAF> EXTEND PACT Tender Loving Care Health Care\nServices Inc said it and Staff Buildiers Inc have extended the\nterm of their merger agreement until May 31.\n    Tender Loving Care also said &lt;Norrell Corp> agreed not to\nacquire any additional Staff Builders shares until September\n30, adding Norrell was paid 750,000 dlrs for the standstill\narrangement. \n    Tender Loving Care said it agreed to buy the 610,000 Staff\nBuilders common held by Norrell, about 19.1 pct of those\noutstanding, for 6,950,000 dlrs immediately prior to the\nconsummation of the merger.\n    Tender Loving Care said the extended merger agreement\ncontinues to provide for the exchange of 1.6 of its shares for\neach Staff Builders share outstanding.\n    As announced February 26, the Staff Builders shareholders\nmeeting to vote on the merger, originally convened and\nadjourned December 23, will be reconvened on April 22.\n    Tender Loving Care said its payment to Norrell will include\n1,950,000 dlrs in cash and five mln dlrs of a new series of\neight pct Tender Loving Care convertible preferred.\n    Tender Loving Care said it and Staff Builders have filed a\nrevised registration and proxy statement with the Securities\nand Exchange Commission. Upon clearance of the revised proxy\nstatement by the commission and its distribution to Staff\nBuilders\' shareholders, that company\'s management will continue\nto solicit proxies for approval of the merger.\n    Tender Loving Care said it will have the power to vote\nabout 15.8 pct of Staff Builders\' shares at the adjourned\nmeeting with a spokesman explaining that this represents the\nproxies held by Norrell, which started buying the stock after\nthe record date for the meeting.\n    In addition, Staff Builders officers and directors own\nabout 13.8 pct of its stock and have agreed to vote in favor of\nthe merger.\n    Accordingly, the vote of an additional 37.1 pct of the\noutstanding shares will be required to approve the merger,\nTender Loving Care said.\n Reuter\n&#3;',0
'SOVIET SOYMEAL IMPORTS SEEN RISING IN 1987 Soviet imports of soymeal may reach or\nexceed one mln tonnes between January and September this year,\nthe Oil World newsletter said.\n    Oil World said it was likely the Soviet Union would reduce\nsoybean imports and step up significantly its imports of meal.\n    At least 500,000 tonnes of soymeal may be shipped from the\nEuropean Community and South America in the January/March\nquarter, with additional large quantities likely to be imported\nin the April and July quarters from Argentina and Brazil, it\nsaid. No figures were given for imports in the corresponding\nperiods of 1986.\n    The change made sense in view of the recent purchases of\nprobably 250,000 tonnes of West European and Polish rapeseed\nand large scale butter imports that were expected from March\nonward, it said.\n    Oil World said substantial losses of Soviet winter grain\narea due to recent severe frosts were probably behind the\nrecent pick-up in Soviet purchases of U.S. Corn.\n    It noted that an additional one mln tonnes of U.S. Corn had\nbeen bought recently by the Soviet Union.\n Reuter\n&#3;',1
'COLOMBIA TO SELL SUGAR, LONDON TRADERS SAY Colombia is holding a snap selling tender\ntonight for one cargo of world market raw sugar, traders said.\n    The sugar is for March 15/April 15 shipment and bids are\nbeing sought based on the New York May delivery futures\ncontract, they added.\n Reuter\n&#3;',0
'VARIAN &lt;VAR> IN TALKS WITH PHILIPS ELECTRONICS Varian Associates Inc said it\nis holding discussions with Philips Electronics regarding the\npurchase of Philips\' broadcast transmission unit in the United\nKingdom, Pye TVT Limited.\n    Pye TVT designs and manufactures broadcast transmission\nequimpment, specializing in television frequencies.\n Reuter\n&#3;',0
'BUTLER &lt;BTLR> TO SELL PART OF UNIT Butler Manufacturing Co said it\nagreed in principal to sell part of its controls division to\nEnercon Data Corp of Minneapolis.\n    Terms of the sale were not disclosed.\n    The transaction, expected to be closed in March, involves\nthe controls division\'s energy management and power line\ncarrier product lines.\n    Butler said costs associated with the sale were included in\nits restructuring charge taken in last year\'s fourth quarter,\nand will have no effect on its 1987 earnings.\n Reuter\n&#3;',0
'FERTILITY AND GENETICS RESEARCH &lt;BABY> 1ST QTR Periods ended December 31\n    Shr loss 10 cts vs loss seven cts\n    Net loss 316,289 vs loss 189,140\n    Revs 61,762 vs 8,934\n Reuter\n&#3;',0
'ROSTENKOWSKI RELUCTANT TO BACK TAX HIKE House Ways and Means Committee\nChairman Dan Rostenkowski said he would be reluctant to back\nthe tax increase if it did not have President Reagan\'s support.\n    He told a National Press Club luncheon there would be a\nnumber of tax proposals that could be debated if Reagan sought\na tax increase to help balance the budget.\n    However, he said he would prefer to leave the tax rates\nenacted in last year\'s tax reform bill unchanged.\n    There have been calls in Congress to hold the rates at the\n1987 level rather than allow them to fall next year.\n    Reagan proposed 22 billion dlrs in revenue as part of his\n1988 budget proposal, but it did not include general tax\nincreases.\n    On trade issues, Rostenkowski said he did not expect the\nmajor trade bill this year would single out any U.S. industry\nfor special protection.\n    \"To go after individual items in a trade bill is suicide,\"\nhe said.\n    This apparently ruled out congressional approval of another\ntextile trade bill to limit quotas on textile imports, as was\nproposed again this year.\n Reuter\n&#3;',0
'&lt;MAGELLAN CORP> SETS MERGER WITH BALZAC Magellan Corp said it has entered into a\nletter of intent to acquire Balzac Investments Inc in a\ntransaction that will result in former Balzac shareholders\nowning about 83 pct of the combined company.\n    The company said on completion of the merger, the combined\ncompany wopuld be known as Power-Cell Inc and be engaged in the\ndevelopment of Balzac technology related to its Quick Charge\nproduct for charging auto batteries.\n    The transaction is subject to approval by shareholders of\nboth companies.\n Reuter\n&#3;',0
'UNITED COS FINANCIAL CORP &lt;UNCF> 4TH QTR NET Shr 68 cts vs 78 cts\n    Net 2,432,179 vs 2,236,471\n    Revs 50.8 mln vs 35.1 mln\n    Avg shrs 3,600,000 vs 2,850,000\n    Year\n    Shr 2.82 dlrs vs 3.35 dlrs\n    Net 10.0 mln vs 9,554,658\n    Revs 177.5 mln vs 138.1 mln\n    Avg shrs 3,567,123 vs 2,850,000\n Reuter\n&#3;',0
'BRISTOL-MYERS CO &lt;BMY> SETS QUARTERLY Qtly div 70 cts vs 70 cts prior\n    Pay May One\n    Record April Three\n Reuter\n&#3;',0
'AMERICAN AIRCRAFT CORP BUYS PRIVATE FIRM &lt;American Aircraft Corp> said it\nhas acquired a 51 pct interest in privately-held &lt;Hunter\nHelicopter of Nevada, Inc>.\n    The purchase was made for an undisclosed amount of American\nAircraft stock, the company said.\n    It said the acquisition will increase shareholder equity in\nAmerican Aircraft to 45 cts per share from 18 cts per share.\n    Hunter Helicopter builds two-passenger helicopters that\nretail for about 50,000 dlrs.\n Reuter\n&#3;',0
'AID CORP &lt;AIDC> RAISES QUARTERLY DIVIDEND Qtly div nine cts vs eight cts in prior qtr\n    Payable March 31\n    Record March 13\n Reuter\n&#3;',0
'INTERNATIONAL TECHNOLOGY &lt;ITX> MAKES ACQUISITION International Technology Corp\nsaid it has purchased &lt;Western Emergency Services Inc> in a\npooling-of-interests transaction.\n    International Technology, a hazardous materials management\ncompany, said it purchased Western Emergency, an environmental\nservices firm, to offer a broader range of environmental\nservices to the Gulf Coast area.\n Reuter\n&#3;',0
'&lt;D.H. HOWDEN AND CO LTD> INCREASES DIVIDEND Semi-annual 30 cts vs 25 cts prior\n    Pay June 30\n    Record June 15\n Reuter\n&#3;',0
'&lt;CO-STEEL INC> 4TH QTR NET Oper shr 25 cts vs 25 cts\n    Oper net 6,322,000 vs 4,660,000\n    Revs 189.1 mln vs 174.7 mln\n    Avg shrs 23.5 mn vs 17.1 mln\n    Year\n    Oper shr 1.04 dlrs vs 14 cts\n    Oper net 21,929,000 vs 3,629,000\n    Revs 760.2 mln vs 674.8 mln\n    Avg shrs 20.5 mln vs 17.1 mln\n    Note: Qtr shr and net exclude tax gain of 4,573,000 dlrs or\n17 cts share, versus gain of 17,259,000 dlrs or 1.02 dlrs share\n    Year shr and net exclude tax gain of 15,992,000 dlrs or 78\ncts share, versus gain of 18,042,000 dlrs or 1.06 dlrs share\n Reuter\n&#3;',0
'PERU COFFEE CROP UNAFFECTED BY RAINS Recent heavy rains have not affected the\nPeru coffee crop and producers are looking forward to a record\nharvest, the president of one of Peru\'s four coffee cooperative\ngroups said.\n    Justo Marin Ludena, president of the Cafe Peru group of\ncooperatives which accounts for about 20 pct of Peru\'s exports,\ntold Reuters a harvest of up to 1,800,000 quintales (46 kilos)\nwas expected this year. He said Peru exported 1,616,101\nquintales in the year to September 1986.\n    A spokesman for the Villa Rica cooperative said flood\nwaters last month had not reached coffee plantations, and the\ncrop was unaffected.\n    Floods in early February caused extensive damage in Villa\nRica, whose coffee cooperative exported 59,960 quintales last\nyear, according to the state-controlled coffee organisation.\n    Marin said the rains would only affect the coffee crop if\nthey continued through to next month, when harvesting starts.\n    He said Peruvian producers were hoping for an increase this\nyear in the 1.3 pct export quota, about 913,000 quintales,\nassigned to them by the International Coffee Organisation, ICO.\n    He said Peru exported 1,381,009 quintales to ICO members\nlast year with a value of around 230 mln dlrs, and another\n235,092 quintales, valued at around 35 mln dlrs, to non-ICO\nmembers.\n Reuter\n&#3;',0
'WILLCOX AND GIBBS INC &lt;WG> 4TH QTR NET Oper shr 42 cts vs 41 cts\n    Oper net 2,322,000 vs 1,785,000\n    Sales 72.3 mln vs 59.8 mln\n    Avg shrs 5,527,000 vs 4,355,000\n    Year\n    Oper shr 1.48 dlrs vs 1.40 dlrs\n    Oper net 7,637,000 vs 5,973,000\n    Sales 261.7 mln vs 224.7 mln\n    Avg shrs 5,165,000 vs 4,277,000\n    NOTE: 1985 operating net excludes gains of 1,523,000 dlrs,\nor 35 cts a share, in quarter and 5,090,000 dlrs, or 1.19 dlrs\na share, in year from tax carryforwards\n Reuter\n&#3;',0
'GE &lt;GE> PROFIT OUTLOOK AIDED BY ENGINE ORDER One of General Electric Co\'s biggest\nbusinesses, aircraft engines, will ride a wave of increasing\nprofits into 1991 because of a new contract worth 650 mln dlrs,\nWall Street analysts said.\n    Previously, it was expected the business would peak and\ndecline at some point in the next five years. The improved\noutlook results from AMR Corp\'s &lt;AMR> decision to order 40 new\nplanes powered by CF6-80C2 GE engines.\n    \"Creative financial footwork helped GE get the order,\" said\nNicholas Heymann, analyst at Drexel Burnham Lambert Inc.\n    AMR declined to go into detail on financing arrangements\nfor its order of 15 Boeing Co &lt;BA> and 25 &lt;Airbus Industrie>\ntwinjet long distance aircraft.\n    But AMR said it was using \"rent-a-plane leases\" that allow\nit to operate the aircraft without adding to its debt\nstructure. AMR also has the right to decline delivery of the\nplanes or return them on short notice. The arrangement protects\nAMR in the case of an unexpected development such as a severe\ndownturn in the economy.\n    From GE\'s point of view the package looks like a good deal\nfor several reasons, Heymann said.\n    GE will be able to record revenue as a sale at the time of\ndelivery, Heymann noted.\n    And if for some reason AMR decides not to take the planes\nGE\'s financial arm, General Electric Financial Services Inc,\nwould have little trouble rounding up another airline that\nwanted the fuel efficient planes. On the whole, the deal\nappears to pose little risk for GE, Heymann said.\n    GE\'s stock declined 1/4 to 103-1/2 on 625,000 shares by\nmidafternoon. H.P. Smith, analyst at Smith Barney, Harris Upham\nand Co said for a 40 billion dlr (revenue) company \"no one\norder will have much of an effect on the stock.\"\n    Russell Leavitt, analyst at Salomon Brothers Inc, said the\norder \"will help to maintain a good level of production and\nprofitability in the aircraft engine business\" for GE.\n    Heymann sees operating profits from GE\'s jet engine\nbusiness rising from 870 mln dlrs last year to 1.3 billion dlrs\nby 1991.\n    Revenue from jet engines was close to six billion dlrs last\nyear, with well over half of the business in the military\nsector, according to analysts\' estimates.\n    The rosy outlook for GE\'s jet engine business coincides\nwith an upbeat performance in other segments.\n    Heymann expects GE to earn 1.39 dlrs per share in the first\nquarter of 1987. Saying many will be suprised by the results,\nhe believes GE has shown through its acquisition of RCA Corp\nthat it has a \"unique ability\" to buy a major business and\nreshape it, pruning some parts and recombining parts with other\nelements of its 14 business areas.\n    Smith sees GE earning 1.35 dlrs per share in the current\nquarter. He credits good results at RCA, in turn aided by the\nNBC broadcasting operation, and lower interest rates.\n    Leavitt sees 1.40 dlrs for the current quarter, in part\ncrediting \"significant benefits from the RCA acquisition.\"\n Reuter\n&#3;',0
'FRENCH EXPORTERS SEE HIGHER WHEAT SALES TO CHINA French exporters estimated that around\n600,000 tonnes of French soft wheat has been sold to China for\ndelivery in the 1986/87 (July/June) year.\n    Around 300,000 tonnes were exported to China between July\n1986 and February this year.\n    Another 100,000 to 150,000 tonnes will be shipped during\nthis month and around the same amount in April, they said.\n    France sold around 250,000 tonnes of soft wheat to China in\n1985/86, according to customs figures.\n    However, certain exporters fear China may renounce part of\nits contract with France after being offered one mln tonnes of\nU.S. soft wheat under the Export Enhancement Program in January\nand making some purchases under the initiative.\n Reuter\n&#3;',1
'BUCKHORN INC &lt;BKN> 4TH QTR LOSS Oper shr loss 1.24 dlrs vs profit 19 cts\n    Oper net loss 1,965,000 vs profit 646,000\n    Revs 10.5 mln vs 11.6 mln\n    Avg shrs 1,741,000 vs 3,581,000\n    12 mths\n    Oper shr loss 1.55 dlrs vs profit 42 cts\n    Oper net loss vs profit 2,051,000 vs 1,492,000\n    Revs 42.9 mln vs 45.5 mln\n    Avg shrs 1,816,000 vs 3,581,000\n    NOTE: prior qtr excludes loss 229,000, or seven cts per\nshare, for discontinued operations.\n    1986 qtr excludes 159,000 extraodinary loss.\n    Excludes loss 293,000, or 16 cts per share, for 1986 and\ngain 651,000, or 18 cts per share, for 1985 for discontinued\noperations.\n    Excludes loss 256,000 for 1986 net for extraordinary item.\n Reuter\n&#3;',0
'BUCKHORN INC &lt;BKN> SEES HIGHER PROFITS IN 1987 Buckhorn Inc said itd nine\nmillion dlr backlog for orders and a less expensive operating\nenvironment should yield significant levels of operating\nprofits for 1987.\n    Buckhorn, a manufacturer of reusable plastic shipping and\nstorage containers, recorded 2,051,000, or 1.55 dlrs per share,\noperating net loss for 1986.\n    Buckhorn said the year\'s results included a 4,250,000\nnon-recurring expense incurred to complete major restructuring\nefforts and to defend against the hostile tender offer from\nRopak Corporation.\n   \n Reuter\n&#3;',0
'ALCAN, BERTONE MAKE ALUMINUM STRUCTURE CAR Alcan Aluminium Ltd said it joined with\nCarrozzeria Bertone S.P.A. to exhibit Alcan\'s technology in\naluminum structured vehicles at Geneva\'s international auto\nsalon.\n    Alcan said it and Bertone have built several Bertone X1/9\nsports cars with structures of adhesively bonded sheet\naluminum. It said the bodies were made on presses used for\nBertone\'s steel-structured sports cars.\n    Alcan said two of the cars are currently being tested in\nBritain by the Motor Industry Research Association.\n     Alcan said it has developed and tested the aluminum\nstructure technology so that it is suitable for modern auto\nmaking methods and plants.\n    Alcan said the technology, which reduces the weight of a\ncar\'s basic structure by up to 50 pct, can improve handling and\nperformance and reduce fuel consumption for any size car. It\nsaid the structures also provide long life without the need for\nrust protection.\n    The structure provides the same stiffness and safety as\npresent materials, while continuously bonded seams allow a 65\npct reduction in spot welds, Alcan said.\n Reuter\n&#3;',0
'CCR VIDEO 1ST QTR NOV 30 NET Shr 2-1/5 cts vs nil\n    Net 156,726 vs 11,989\n    Sales 1,157,883 vs 890,138\n\n Reuter\n&#3;',0
'DEL E. WEBB INVESTMENT &lt;DWPA> 4TH QTR NET Shr eight cts vs 16 cts\n    Net 188,000 vs 354,000\n    Revs 538,000 vs 594,000\n    Year\n    Shr 31 cts vs 28 cts\n    Net 692,000 vs 617,000\n    Revs 2,640,000 vs 906,000\n    (Del E. Webb Investment Properties Inc)\n Reuter\n&#3;',0
'U.S. EXPORTERS REPORT 104,000 TONNES OF  CORN SOLD TO UNKNOWN DESTINATIONS FOR 1986/87\n ',1
'F.W. WOOLWORTH\'S &lt;Z> 1986 PROFITS RISE 21 PCT The specialty retailing area continues\nto pay off for F.W. Woolworth Co, once known only as a five and\ndime store chain, which said its 1986 income rose 21 pct.\n    It was the fourth consecutive year of profit increases for\nthe New York-based retailer which was founded over 100 years\nago.\n    Woolworth\'s 1986 income rose to 214 mln dlrs or 3.25 dlrs\nper share compared with 1985\'s profit of 177 mln or 2.75 dlrs\nper share. Revenues for the year rose to 6.50 billion compared\nwith the prior year\'s 5.96 billion.\n    For the fourth quarter, the company reported profits rose\n10 pct to 117 mln dlrs or 1.78 dlrs per share compared with\n1985 fourth quarter results of 106 mln or 1.64 dlrs per share.\nRevenues rose to 2.02 billion from 1.85 billion dlrs.\n    Roy Garofalo, Woolworth vice president, told Reuters that\nincome generated by the company\'s specialty store operations\naccounted for 52 pct of the parent company\'s 1986 profits.\n    He said the company now has 4,700 specialty stores\noperating under 30 different names. Woolworth plans to open 650\nmore specialty stores in 1987. At this time last year, it\noperated 4,100 specialty stores, Garofalo said.\n    Garofalo said the largest specialty chain operated by\nWoolworth is Kinney Shoe Stores, followed by the Richman\napparel unit. Among other units are Little Folk Shop, a chain\nof discount children\'s apparel stores; The Rx Place, a discount\ndrug, health and beauty aid operation; and Face Fantasies,\nwhich sells cosmetics. There are currently about 1,700\nWoolworth general merchandise stores operating worldwide, of\nwhich 1,200 are in the United States.\n    Harold Sells, chairman and chief executive of Woolworth,\nsaid in a statement, \"These results are especially gratifying as\nthey are an improvement over last year\'s record earnings.\"\n    Sells that it was the fourth successive year earnings in\neach quarter improved over the corresponding year-earlier\nperiod.\n    Woolworth\'s variety store operations were hard hit in the\n1970\'s and early 1980\'s by the quickly growing discount store\nindustry. In an attempt to compete in the 1970\'s, Woolworth\nopened a discount general store chain, Woolco, and J. Brannam,\na discount apparel chain. Both were failures in the United\nStates, although Woolco still operates in Canada.\n    In 1985, however, Woolworth changed its strategy and\nannounced that it would operate specialty stores. At that time,\nthe company said it would create 14 new groups of such stores.\nSpecialty stores generally have higher sales per square foot\nthan general merchandise stores.\n   \n Reuter\n&#3;',0
'ROYAL RESOURCES CORP &lt;RRCO> 2ND QTR DEC 31 LOSS Shr loss 72 cts vs loss 1.48 dlrs\n    Net loss 4,466,006 vs loss 9,091,688\n    Revs 608,181 vs 1,280,727\n    Six Mths\n    Shr loss 77 cts vs loss 1.51 dlrs\n    Net loss 4,752,455 vs loss 9,265,457\n    Revs 1,444,149 vs 2,791,188\n   \n Reuter\n&#3;',0
'CANADA ECONOMY EXPECTED TO GROW MODERATELY Canadian economic growth is expected to\nslow further in 1987, but an improved the trade picture should\nkeep the country from recession, economists said.\n    \"The economy is ready for about a 2.0 pct rate of growth\nover the course of 1987,\" said Carl Beigie, Chief Economist at\nDominion Securities Pitfield Ltd.\n    Statistics Canada reported that gross domestic product,\ngrew 3.1 pct in 1986, the fourth year of continuous expansion,\nbut down from 1985\'s four pct.\n    In the final quarter, GDP, in 1981 prices and at annualized\nrates, rose a slight 0.2 pct after expanding 0.8 pct in the\nthird quarter.\n    \"Essentially it is a flat performance,\" said Warren Jestin,\ndeputy chief economist at the Bank of Nova Scotia.\n    Economist Wendy Smith Cork of the brokerage Nesbitt Thomson\nBongard Inc said \"it shows the economy is not moving along very\nsteadily, it\'s not a very promising number.\"\n    \"We weren\'t surprised, we expected to see one bad quarter\nin Canada, but we don\'t think there will be a recession,\" she\nadded.\n    The rise in GDP was below the 3.3 pct increase forecast by\nFederal Finance Minister Michael Wilson in his budget last\nmonth. He also projected the economy would expand  2.8 pct this\nyear.\n    Many economists are less optimistic, predicting growth will\nlikely be in the 2.0 to 2.2 pct range.\n    Statistics Canada also reported the country\'s trade\nperformance deteriorated sharply last year as the deficit in\nthe current account rose to a record 8.8 billion Canadian dlrs\nfrom the previous year\'s shortfall of 584 mln dlrs.\n    \"The sharp increase in the deficit originated from\nmerchandise trade transactions where imports continued to\nadvance strongly whereas exports were virtually unchanged,\" the\nfederal agency said in a statement.\n    The merchandise trade surplus was pared to 10.13 billion\ndlrs in 1986 from 17.48 billion dlrs in 1985.\n    But economist Cork said the expected upturn in the U.S.\neconomy will lead to increased demand for Canadian goods, and\nhelp fuel the country\'s modest expansion. Nearly 80 pct of\nCanada\'s exports are shipped to the U.S. each year.\n Reuter\n&#3;',0
'USDA REPORTS CORN SOLD SOLD TO UNKNOWN The U.S. Agriculture Department said\nprivate U.S. exporters reported sales of 104,000 tonnes of corn\nto unknown destinations for shipment in the 1986/87 marketing\nyear.\n    The marketing year for corn began September 1, it said.\n Reuter\n&#3;',1
'AMERICAN AIRCRAFT BUYS INTO HELICOPTER BUILDER &lt;American Aircraft Corp> said it\nhas acquired a 51 pct interest in privately-owned &lt;Hunter\nHelicopter of Nevada Inc> for an undisclosed amount of stock.\n    An American Aircraft official said the company has an\noption to acquire the remaining 49 pct.\n    Hunter Helicopter is in the business of building a two\npassenger helicopter retailing for about 50,000 dlrs each which\nis certified by the Federal Aviation Administration. The\nhelicopters will be manufactured in American Aircraft\'s Uvalde,\nTexas, plant, it added.\n Reuter\n&#3;',0
'PREMIER INDUSTRIAL CORP &lt;PRE> REGULAR DIVIDEND Qtly div 11 cts vs 11 cts in prior qtr\n    Payable April 10\n    Record March 23\n Reuter\n&#3;',0
'INTERNATIONAL TECHNOLOGY &lt;ITX> BUYS FIRM International Technology Corp\nsaid it has purchased privately-held Western Emergency Service\nInc in a stock transaction.\n    Western Emergency, an environmental services firm, has\nannual sales of between one and two mln dlrs, compared to\nInternational Technology\'s roughly 240-mln-dlr annual sales, a\nspokesman for International Technology said.\n Reuter\n&#3;',0
'CONTINENTAL GENERAL INSURANCE &lt;CGIC> 4TH QTR NET Shr 20 cts vs 21 cts\n    Net 783,564 vs 806,278\n    Year\n    Shr 89 cts vs 86 cts\n    Net 3,443,392 vs 3,242,588\n    Note:Full company name is Continental General Insurance Co\n    Net includes profit from sale of securities of 155,410\ndlrs, or four cts a share, and 192,896 dlrs, or five cts a\nshare, respectively, in 1986 qtr and year, and of 12,879 dlrs,\nor nil per share, in 1985 qtr. Net for 1985 year includes loss\nfrom sale of securities of 315,763 dlrs, or eight cts a share.\n Reuter\n&#3;',0
'MARGAUX CONTROLS INC &lt;MARGX> 3RD QTR LOSS Shr loss 1.60 dlrs vs loss 45 cts\n    Net loss 9,883,000 vs loss 2,744,000\n    Revs 1,309,000 vs 3,289,000\n    Nine mths\n    Shr loss 2.29 dlrs vs loss 98 cts\n    Net loss 14.1 mln vs loss 6,008,000\n    Revs 4,577,000 vs 11.9 mln\n    NOTE: Current periods include loss of 7.5 mln dlrs from\ndiscontinued operations.\n Reuter\n&#3;',0
'MERCHANTS GROUP INC &lt;MRCH> 4TH QTR OPER NET Oper shr profit 21 cts vs loss 2.13 dlrs\n    Oper net profit 456,000 vs loss 2,454,000\n    Revs 16.3 mln vs 13.1 mln\n    Year\n    Oper shr 1.39 dlrs vs loss 2.41 dlrs\n    Oper net profit 1,815,000 vs loss 2,779,000\n    Revs 58.0 mln vs 43.8 mln\n    NOTE: 1986 4th qtr and yr oper net exclude realized\ninvestment gains of 279,000 dlrs and 1,013,000 dlrs,\nrespectively, which includes provision for income taxes of\n238,000 dlrs and 863,000 dlrs for the periods, respectively.\n    1986 4th qtr and yr oper net exclude 606,000 dlrs or 38 cts\nper share and 2,323,000 dlrs or 1.86 dlrs per share, for net\noperating loss carryovers.\n    1985 4th qtr and yr oper net exclude realized investment\ngains of 439,000 dlrs and 666,000 dlrs respectively.\n Reuter\n&#3;',0
'CONTINENTAL GENERAL &lt;CGIC> SETS STOCK DIVIDEND Continental General Insurance Co\nsaid its board of directors declared a 10 pct stock dividend on\ncommon shares, payable April one to shareholders of record\nMarch 16.\n    The company yesterday paid a quarterly cash dividend of\n2-1/2 cts a share, unchanged from the previous quarter, to\nshareholders of record February 20.\n Reuter\n&#3;',0
'MARGAUX CONTROLS INC &lt;MARGX> 3RD QTR DEC 28 LOSS Shr loss 1.60 dlrs vs loss 45 cts\n    Net loss 9,883,000 vs loss 2,744,000\n    Revs 1,309,000 vs 3,289,000\n    Nine mths\n    Shr loss 2.29 dlrs vs loss 98 cts\n    Net loss 14.1 mln vs loss 6,008,000\n    Revs 4,577,000 vs 11.9 mln\n    Note: 1986 net losses inlcude 7,507,000-dlr charge from\ndiscontinued operations of building management system sold to\nCetek System Inc on Jan 30, 1987.\n Reuter\n&#3;',0
'HARRIS CUTS STAKE IN BELL INDUSTRIES &lt;BI> Harris Associates L.P., a Chicago\ninvestment advisory limited partnership, said it lowered its\nstake in Bell Industries Inc to 1,015,800 shares, or 18.7 pct\nof the total outstanding, from 1,083,800 shares, or 20.0 pct.\n    In a filing with the Securities and Exchange Commission,\nHarris said it sold 68,000 Bell common shares between Dec 18\nand Feb 20 at prices ranging from 20.25 to 25.24 dlrs each.\n    Harris said its dealings in Bell stock are on behalf of its\nadvisory clients.\n Reuter\n&#3;',0
'GOODYEAR &lt;GT> CHAIRMAN CRITICIZES CORPORATE RAIDS The chairman of Goodyear Tire and Rubber\nCo, a concern that survived a recent hostile takeover bid,\ncharged that \"terrorists in three-piece suits\" are undermining\nthe nation\'s industrial base.\nIn a speech to a meeting of south Florida business executives,\nGoodyear Chairman Robert Mercer lashed out at corporate raiders\nand takeover specialists, accusing them of causing serious harm\nto the companies they target.\n  \"Their interest is not in preserving and strengthening\nAmerica\'s industrial and providing jobs,\" he said. \"Their\nproduct is simply deals, and that is not a product which a\ncountry ... can base a future on.\"\n    Last year, Mercer fought off a takeover attempt by British\nindustrialist Sir James Goldsmith.\n    But Goodyear\'s independence was preserved at a high price,\nMercer said.\n    The company bought back Goldsmith\'s stock for 620 mln dlrs,\ngiving him a 93 mln dlr profit. Goodyear also paid him 37 mln\ndlrs for expenses and bought about 41 mln other shares for over\ntwo billion dlrs.\n    In an effort to trim its new debt, Goodyear closed down\nthree plants Mercer believes otherwise could have been saved,\nsold its motor wheel and aerospace units and reduced its\npayroll by 10 pct, he said.\n    Mercer, who plans to testify tomorrow at a Senate hearing\non a proposed bill to control corporate raiders, said hostile\ntakeovers have also hurt workers.\n Reuter\n&#3;',0
'&lt;TIVERTON PETROLEUMS LTD> NINE MTHS DEC 31 NET Shr six cts vs five cts\n    Net 459,131 vs 289,433\n    Revs 1,808,832 vs 1,680,240\n Reuter\n&#3;',0
'MORE INTERMEDIATE U.S. WHEAT CREDITS FOR MOROCCO The Commodity Credit Corporation has\napproved an additional 45.0 mln dlrs under its interemdiate\nexport credit guarantee program, GSM-103, for sales of U.S.\nwheat to Morocco, the U.S. Agriculture Department said.\n    The action increases Morocco\'s cumulative fiscal year 1987\nprogram for wheat under GSM-103 to 75.0 mln dlrs.\n    The credit terms extended for exports under the program\nmust be in excess of three years but no more than seven years\nto eligible for credit coverage. All sales under this line must\nbe registered and exported by September 30, 1987.\n    The department also said the guarantee line for sales of\nU.S. wheat under the Export Credit Guarantee Program, GSM-102,\nhas been decreased 45.0 mln dlrs to 60.0 mln.\n Reuter\n&#3;',1
'MCA INC &lt;MCA> SETS REGULAR QTRLY PAYOUT Qtrly div 17 cts vs 17 cts prior\n    Pay April 13\n    Record March 25\n Reuter\n&#3;',0
'SOVIET GRAINS SEEN ENTERING SPRING ON SHAKY NOTE Soviet winter grains could be off to\na faulty start this spring after enduring an usually dry fall\nand cold winter, weather and crop analysts said.\n    Prospects for another near-record grain harvest in the\nSoviet Union appear dim at this point, but it is premature to\nforecast any major crop problems, analysts said.\n    But the situation bears careful watching over the next six\nweeks and will ultimately impact the Soviet grain supply and\nfuture buying plans, analysts of the Soviet Union said.\n    \"From a weather standpoint, you can say with certainty that\nthe Soviets are not getting off to a good start and will have a\nlower crop (than last year),\" Gail Martell, chief meteorologist\nfor E.F. Hutton said.\n    The next six weeks in the USSR\'s grain growing areas will\nbe the crucial period that will determine the final outcome of\nthe winter crops, Martell and other analysts said.\n    \"Where the crop is really made or broken is still ahead of\nus,\" an Agriculture Department authority on the USSR said.\n    The Soviet Union recently reported that nine mln hectares\nof winter grain will have to be reseeded due to winterkill.\nThis would be equal to about 25 pct of the total winter crop\nand would be the second highest winterkill in ten years, the\nUSDA analyst said.\n    With a timely spring, Soviet farmers would probably be able\nto reseed the damaged acreage with spring crops, but analysts\nnoted that spring crops normally yield lower than winter crops\n-- sometimes as much as 30-35 pct lower.\n    Normally winterkill is caused by inadequate snowcover\ncombined with cold temperatures. This winter, however,\nsnowcover in Soviet grain areas has generally been excellent,\nso the bulk of winterkill, analysts speculate, likely has been\ndue to a very dry fall and subsequent poor crop germination.\n    \"Fall dryness may be a problem. There\'s a good correlation\nbetween mediocre crops and fall dryness,\" Martell said.\n    Precipitation last fall was as little as 25 pct of normal\nin southern and northern Ukraine, and below normal over the\nentire winter crop area, she said.\n    Recent cold temperatures in grain areas in which the\nsnowcover has been gradually melting could also have caused \nproblems of ice-crusting and winterkill, Jim Candor, senior\nforecaster for Accu Weather, said.\n    Livestock feed needs have probably increased because of the\nfall and winter, analysts said. The dry fall damaged pastures,\nthe cold winter raised feed demands and a late spring would\nrequire longer off-pasture feeding, they said.\n    \"The Soviets are not in a desperate situation ... they\ndon\'t have to buy (grains) now,\" a USDA official said.\n    But if the Soviets are worried about their winter crops and\nif they feel that last year\'s huge crop of 210 mln tonnes was a\none-time fluke brought on by perfect conditions, more Soviet\nbuying might occur to insure crop supplies, he said.\n    Bad weather during the next six weeks could push the\nSoviets back into the market, weather analysts said.\n    \"A lot of winterkill could occur during the next month and\na half,\" Martell said.\n Reuter\n&#3;',1
'ALCAN (AL) TO CLOSE WEST GERMAN SMELTER (Alcan Aluminium Ltd) is closing its\naluminum smelter in Ludwigshafen, West Germany this June due to\nhigh operating costs, an Alcan spokesman said.\n    The smelter, near Frankfurt, had annual capacity of about\n44,000 metric tons but was operating at about half that in\nJanuary, spokesman Fernand Leclerc said.\n    Leclerc said Alcan decided it would cost too much to\nmodernize the plant.\n    He said there is a possibility the company will sell the\nsmelter, which currently employs 320 people, before its\nscheduled closing.             \n Reuter\n&#3;',0
'ROYAL RESOURCES CORP &lt;RRCO> 2ND QTR DEC 31 LOSS Shr loss 72 cts vs loss 1.48 dlrs\n    Net loss 4,466,006 vs loss 9,091,688\n    Revs 608,181 vs 1,280,727\n    Avg shrs 6,194,000 vs 6,155,461\n    First half\n    Shr loss 77 cts vs loss 1.51 dlrs\n    Net loss 4,752,455 vs loss 9,265,457\n    Revs 1,444,149 vs 2,791,188\n    Avg shrs 6,174,731 vs 6,155,461\n    NOTE: Losses include charges of 4.0 mln dlrs in both 1986\nperiods vs 14.4 mln dlrs in both 1985 periods for write-down of\noil and gas properties\n Reuter\n&#3;',0
'HANSON TRUST &lt;HAN> COMPLETES KAISER PURCHASE Hanson Trust PLC said Kaiser Cement\nshareholders today approved the previously announced merger\nagreement making Kaiser Cement an indirect wholly owned unit of\nHanson Trust.\n    Hanson said that promptly following the filing of the\ncertificate of merger Kaiser Cement common shares will be\ndelisted from the New York Stock Exchange.\n    Hanson also said, in accordance with the merger agreement\nKasier Cement also has redeemed all outstanding shares of its\n1.375 dlr convertible preferance stocks and its outstanding 9\npct convertible debentures due 2005.\n    The acquisitions total purchase price (including cost of\nfinancing the above-mentioned redemptions) will be about 250\nmln dlrs, Hanson said.\n Reuter\n&#3;',0
'OIL PRICES RISE ON SAUDI EFFORT Crude oil prices rallied today, moving\nover 17.00 dlrs a barrel because of Saudi Arabia\'s determined\neffort to support prices, analysts said.\n    \"The Saudis and other OPEC nations are jawboning the market,\nhoping to restore confidence and prices and to do this without\nanother meeting,\" said Sanford Margoshes, oil analyst with\nShearson Lehman Brothers Inc.\n    \"But OPEC is not out of the woods yet by a longshot due to\nseasonal declines in demand and some cheating,\" he added.\n    Oil industry analysts said Saudi Arabia has led the attempt\nto get other OPEC members to resist pressures to discount from\nthe official prices agreed to last december.\n    The analysts said that to get others to hold the line,\nSaudi Arabia pushed hard at the meeting of deputy oil ministers\nof the Gulf Cooperation Council last weekend and at the\nCooperation Council oil ministers\' meeting the previous week.\n    The Saudis have also offered to support members having\ndifficulty in selling their oil, analysts said.\n    \"They are trying to make sure that no one discounts, and to\nprevent that, it appears that Saudi Arabia or some other OPEC\nmember will allocate some of their oil sales to help members\nthat lose sales,\" Margoshes said.\n    He added that the allocations would probably be in the form\nof loans to be repaid when these nations resume sales.\n    Analysts said this would be useful in keeping in line\nnations like Qatar, which has had trouble selling oil. But it\nis also likely that such assistance would be provided to\nNigeria which is under pressure to extend discounts.\n    Analysts said that Saudi Arabia, with assistance from OPEC\npresident Rilwanu Lukman, was trying to avoid an emergency OPEC\nmeeting for fear that it would give the appearance that the\nDecember pact is falling apart.\n    Daniel McKinley, oil analyst with Smith Barney, Upham\nHarris and Co said, \"both physical and futures markets have been\noversold and it only took a small spark to bring on a short\ncovering rally.\"\n    He believes an Iranian trade mission to Tokyo, which\nrefused discounts to Japanese buyers, brought Japanese refiners\ninto the market to cover their short positions.\n    Oil traders said one japanese refiner came into the market\nto but 10 cargoes of May Dubai, which sent prices up on Mideast\nsours, with Dubai trading up to 16.50 dlrs after trading\nyeterray as low as 15.63 dlrs and then spilled over into the\nNorth sea crude oil market.\n    Traders said that there have been persistent rumors today\nthat Japanese buyers are looking to pick up cargoes of Brent\nfor Japan and European trade sources indidate rumors of vessels\nbeing fixed to make such shipments.\n    North sea brent today rose over 17.00 dlrs with trades\nreported as high as 17.05 dlrs, up one dlr.\n    OPEC members\' denials that they are producing over their\nquotas sparked moves to cover short postitions.\n    Indonesian oil minister Subroto said today that OPEC\nproduction was below the 15.8 mln bpd quota agreed to last\ndecember but he gave no details on OPEC production against\nclaims it was more at least one mln bpd above that level.\n    \"The production probably is about their quota level and\nlargely because Saudi Arabia will not discount and canot sell\nits oil as a result,\" Margoshes said.\n    Analysts have mixed opinions about the extent of the\ncurrent rally. Some believe prices can continue to rise if\nSaudi Arabia and OPEC hold steady in a refusal to discount.\n    But others said that despite the rally today there were\nstill several fundamental factors, including demand, which\ncould cut the rally short.\n    Marion Stewart, an indepedent petroleum economist, said\nslow growth in the economies of the U.S. and OECD would keep\ndemand for oil slack and he now estimates that demand to rise\nabout 1.4 pct over 1986.\n Reuter\n&#3;',0
'TREASURY BALANCES AT FED ROSE ON FEB 27 Treasury balances at the Federal\nReserve rose on Feb 27 to 3.482 billion dlrs from 1.538 billion\ndlrs the previous business day, the Treasury said in its latest\nbudget statement.\n    Balances in tax and loan note accounts fell to 21.334\nbillion dlrs from 25.164 billion dlrs on the same respective\ndays.\n    The Treasury\'s operating cash balance totaled 24.816\nbillion dlrs on Feb 27 compared with 26.702 billion dlrs on Feb\n26.\n Reuter\n&#3;',0
'KASLER CORP &lt;KASL> 1ST QTR JAN 31 NET Shr profit three cts vs loss seven cts\n    Net profit 161,000 vs loss 367,000\n    Revs 24.3 mln vs 26.5 mln\n Reuter\n&#3;',0
'COFFEE MAY FALL MORE BEFORE NEW QUOTA TALKS Coffee prices may have to fall even lower\nto bring exporting and importing countries once more round the\nnegotiating table to discuss export quotas, ICO delegates and\ntraders said.\n    The failure last night of International Coffee\nOrganization, ICO, producing and consuming countries to agree\nexport quotas brought a sharp fall on international coffee\nfutures markets today with the London May price reaching a\n4-1/2 year low at one stage of 1,270 stg per tonne before\nending the day at 1,314 stg, down 184 stg from the previous\nclose.\n    The New York May price was down 15.59 at 108.00 cents a lb.\n    Pressure will now build up on producers returning from the\nICO talks to sell coffee which had been held back in the hope\nthe negotiations would establish quotas which would put a floor\nunder prices, some senior traders said.\n    The ICO 15 day average price stood at 114.66 cents a lb for\nMarch 2. This compares with a target range of 120 to 140 cents\na lb under the system operating before quotas were suspended in\nFebruary last year following a sharp rise in international\nprices caused by drought damage to the Brazilian crop.\n    In a Reuter interview, Brazilian Coffee Institute, IBC,\nPresident Jorio Dauster urged producers not to panic and said\nthey need to make hard commercial decisions. \"If we have failed\nat the ICO, at least we have tried,\" Dauster said, adding \"now it\nis time to go and sell coffee.\"\n    But Brazil is keeping its marketing options open. It plans\nto make an official estimate of the forthcoming crop next\nmonth, Dauster said. It is too difficult to forecast now. Trade\nsources have put the crop at over 26 mln bags compared with a\nprevious crop of 11.2 mln. Brazil is defining details of public\nselling tenders for coffee bought on London\'s futures market\nlast year.\n    A basic condition will be that it does not go back to the\nmarket \"in one go\" but is sold over a minimum of six months.\n    The breakdown of the ICO negotiations reflected a split\nbetween producers and consumers on how to set the yardstick for\nfuture quotas. Consumers said \"objective criteria\" like average\nexports and stocks should determine producer quota shares,\nDauster said.\n    All elements of this proposal were open to negotiation but\nconsumers insisted they did not want a return to the \"ad hoc\" way\nof settling export quotas by virtual horse trading amongst\nproducers whilst consumers waited in the corridors of the ICO.\n    Dauster said stocks and exports to ICO members and\nnon-members all need to be considered when setting quotas and\nthat Brazil would like to apply the coffee pact with a set\nratio of overall quota reflecting stock holdings.\n    It is a \"simplistic misconception that Brazil can dictate\"\npolicy to other producers. While consumer countries are welcome\nto participate they cannot dictate quotas which are very\ndifficult to allocate as different \"objective criteria\" achieve\ndifferent share-outs of quota, Dauster said.\n    Other delegates said there was more open talking at the ICO\nand at least differences were not hidden by a bad compromise.\n    Consumer delegates said they had not been prepared to\naccept the producers\' offer to abandon quotas if it proves\nimpossible to find an acceptable basis for them.\n    \"We want the basis of quotas to reflect availability and to\nencourage stock holding as an alternative to a buffer stock if\nsupplies are needed at a later stage,\" one delegate said.\n    Some consumers claimed producer support for the consumer\nargument was gaining momentum towards the end of the ICO\nsession but said it is uncertain whether this will now collapse\nand how much producers will sink their differences should\nprices fall further and remain depressed.\n    The ICO executive board meets here March 30 to April 1 but\nboth producer and consumer delegates said they doubt if real\nnegotiations will begin then. The board is due to meet in\nIndonesia in June with a full council scheduled for September.\n    More cynical traders said the pressure of market forces and\npolitics in debt heavy Latin American producer countries could\nbring ICO members back around the negotiating table sooner than\nmany imagine. In that case quotas could come into force during\nthe summer. But most delegates and traders said quotas before\nOctober are unlikely, while Brazil\'s Dauster noted the ICO has\ncontinued although there were no quotas from 1972 to 1980.\n    A clear difference between the pressures already being felt\nby importers and exporters was that consumers would have been\nhappy to agree on a formula for future quotas even if it could\nnot be imposed now. At least in that way they said they could\nshow a direct relationship between quotas and availability.\n    In contrast producers wanted stop-gap quotas to plug the\nseemingly bottomless market and were prepared to allow these to\nlapse should lasting agreement not be found.\n    \"Producers were offering us jam tomorrow but after their\nfailure to discuss them last year promises were insufficient\nand we wanted a cast iron commitment now,\" one consumer said.\n Reuter\n&#3;',0
'SEAMAN FURNITURE &lt;SEAM> IN STOCK SPLIT Seaman Furniture Co Inc said\nits board declared a two-for-one split of the company\'s\noutstanding stock.\n    It said holders of its common will receive one additional\nshare for each share held as of March 20. It said certificates\nrepresenting additional shares will be distributed as soon as\npossible after April 10.\n Reuter\n&#3;',0
'&lt;SCOTT\'S HOSPITALITY INC> 3RD QTR JAN 31 NET Oper shr eight cts vs eight cts\n    Oper net 5,219,000 vs 4,377,000\n    Revs 214.9 mln vs 182.5 mln\n    NINE MTHS\n    Oper shr 51 cts vs 51 cts\n    Oper net 29.6 mln vs 27.9 mln\n    Revs 634.5 mln vs 569.3 mln\n    1986 net excludes extraordinary gain of 8,031,000 dlrs or\n15 cts shr.\n    1987 net reflects three-for-one stock split in 2nd qtr and\nissue of 1.5 mln subordinate voting shares in 1st qtr.\n Reuter\n&#3;',0
'TELXON CORP &lt;TLXN> SEES HIGHER REVENUES Telxon Corp reported it expects\nrevenues for the quarter ending March 31 to be between 26 to 28\nmln dlrs.\n    The company said earnings per share for the period should\nbe between 23 cts to 26 cts.\n    \"The company is making an announcement at this time in\nresponse to analysts fourth quarter revenues and earnings per\nshare estimates of 29 mln to 32 mln and 24 cts to 30 cts,\nrespecivtely,\" said Raymond Meyo, president and chief executive\nofficer.\n    Telxon recorded revenues of 24.2 mln dlrs for the quarter\nlast year, and earnings per share of 22 cts, adjusted for a\nthree-for-two stock split in May 1986.\n Reuter\n&#3;',0
'ROYAL RESOURCES &lt;RRCO> SETS VOTE ON SALE Royal Resources Corp said its board set\nan April 21 a shareholders\' meeting to vote on the sale of its\noil and gas properties for 3,650,000 dlrs, an increase in\nauthorized common to 20 mln shares from 15 mln and the change\nof the company\'s name to Royal Gold Inc.\n    The company has agreed to sell its oil and gas properties\nto &lt;Victoria Exploration N.L.> of Perth, Western Australia.\n    Royal Resources also said the sale of its interest in two\ngold properties -- the Colosseum Mine in San Bernardino County,\nCalif., and the Camp Bird mine near Ouray, Colo. -- was closed\non February 27. The company said it received 4.4 mln dlrs and\ncancellation of the remaining balance due on the acquisition of\nthe interest, adding this represents 2.5 mln dlrs more than it\npaid for the interest.\n Reuter\n&#3;',0
'AMERICAN VANGUARD CORP &lt;AMGD> YEAR NET Shr 57 cts vs 27 cts\n    Net 1,002,000 vs 470,000\n    Sales 15.9 mln vs 12.0 mln\n    Note: 4th qtr figures not given.\n   \n Reuter\n&#3;',0
'HARPER INTERNATIONAL INC &lt;HNT> 3RD QTR JAN 31 Shr 12 cts vs 19 cts\n    Net 369,000 vs 358,000\n    Revs 7,076,000 vs 6,712,000\n    Avg shrs 3,050,000 vs 1,850,000\n    Nine mths\n    Shr 53 cts vs 63 cts\n    Net 1,523,000 vs 1,158,000\n    Revs 22.6 mln vs 20.7 mln\n    Avg shrs 2,852,198 vs 1,850,000\n Reuter\n&#3;',0
'WITCO CORP &lt;WIT> SETS REGULAR QTLY PAYOUT Qtly div 28 cts vs 28 cts prior\n    Pay April one\n    Record March 13\n Reuter\n&#3;',0
'PANCANADIAN TO SELL NORTH SEA PROPERTIES, UNIT TO WHITEHALL FOR CASH\n ',0
'&lt;MDS HEALTH GROUP LIMITED> IN QTLY PAYOUT Qtly div six cts vs six cts prior\n    Pay April one\n    Record March 23\n Reuter\n&#3;',0
'HARPER INTERNATIONAL INC &lt;HNT> 3RD QTR NET Qtr ended Jan 31\n    Shr 12 cts vs 19 cts\n    Net 369,000 vs 358,000\n    Revs 7,076,000 vs 6,712,000\n    Avg shrs 3,050,000 vs 1,850,000\n    Nine mths\n    Shr 53 cts vs 63 cts\n    Net 1,523,000 vs 1,158,000\n    Revs 22.6 mln vs 20.7 mln\n    Avg shrs 2,852,198 vs 1,850,000\n Reuter\n&#3;',0
'BURST AGRITECH INC &lt;BRZT> YEAR NOV 30 LOSS Net loss 705,496 vs loss 182,766\n    Sales 642,590 vs 1,126,315\n Reuter\n&#3;',0
'API SAYS DISTILLATE STOCKS OFF 4.4 MLN BBLS, GASOLINE OFF 30,000, CRUDE UP 700,000\n ',0
'ALCAN TO CLOSE WEST GERMAN SMELTER Alcan Aluminium Ltd is closing its\naluminum smelter in Ludwigshafen, West Germany this June due to\nhigh operating costs, an Alcan spokesman said.\n    The smelter, near Frankfurt, had annual capacity of about\n44,000 tonnes but was operating at about half that in January,\nspokesman Fernand Leclerc said.\n    Leclerc said Alcan decided it would cost too much to\nmodernize the plant.\n    He said there is a possibility the company will sell the\nsmelter, which currently employs 320 people, before its\nscheduled closing.\n Reuter\n&#3;',0
'PANCANADIAN TO SELL BRITISH INTERESTS &lt;PanCanadian Petroleum Ltd>\nsaid it agreed to sell its working interest in its North Sea\nproperties and its British unit, Canadian Pacific Oil and Gas\nof Canada Ltd, to Whitehall Petroleum Ltd, a private British\ncompany.\n    PanCanadian, 87 pct-owned by Canadian Pacific Ltd &lt;CP>,\nsaid it would receive 1.7 mln British pounds cash (3.5 mln\nCanadian dlrs) at closing, expected in two to three months.\n    It said the deal is subject to approval by regulators and\nits partners in the properties, which consist of exploration\nwells. It will also retain a royalty interest in the\nproperties.\n Reuter\n&#3;',0
'TELXON &lt;TXLN> SEES SLIGHTLY HIGHER 4TH QTR NET Telxon Corp said it expects\nper-share earnings for its fourth quarter ending March 31 to be\nabout 23 cts to 26 cts on revenues of 26 mln dlrs to 28 mln\ndlrs.\n    For the year-ago quarter, the company earned 22 cts a\nshare, adjusted for a three-for-two stock split, on revenues of\n24.2 mln dlrs.\n    The company said it made the earnings estimate in response\nto analysts\' forecasts, which it said called for per-share\nearnings of 24 cts to 30 cts and revenues of 29 mln dlrs to 32\nmln dlrs.\n Reuter\n&#3;',0
'REID-ASHMAN &lt;REAS> TO DIVEST TEST PRODUCT UNIT Reid-Ashman Inc said it has\ndecided to divest its test products division, located in Santa\nClara.\n    The company said it will entertain offers through March 30.\nIt also said Steven Reid, a company founder and president of\nthe test division, has made an offer to purchase the unit.\n    The company\'s test division accounted for about ten pct of\ntotal revenues in the year ended Sept 30, 1986 and is currently\nrunning a revenue rate of under two mln dlrs per year, it said.\n Reuter\n&#3;',0
'PACIFIC LIGHTING COPR &lt;PLT> QUARTERLY DIVIDEND Qtly div 87 cts vs 87 cts\n    Pay Feb 17\n    Record Jan 20\n Reuter\n&#3;',0
'CETEC CORP &lt;CEC> QUARTERLY DIVIDEND Qtly div five cts vs five cts\n    Pay May 22\n    Record May 8\n Reuter\n&#3;',0
'API SAYS DISTILLATE, GAS STOCKS OFF IN WEEK Distillate fuel stocks held in\nprimary storage fell by 4.4 mln barrels in the week ended Feb\n27 to 127.10 mln barrels from 131.50 mln the previous week, the\nAmerican Petroleum Institute (API) said.\n    In its weekly statistical bulletin, the oil industry trade\ngroup said gasoline stocks fell 30,000 barrels to 252.92 mln\nbarrels from a revised 252.95 mln, while crude oil stocks rose\n700,000 barrels to 329.38 mln from a revised 328.68 mln.\n    It said residual fuel stocks fell 380,000 barrels to 38.04\nmln from 38.42 mln barrels.\n    API said refinery runs in the week fell to 12.17 mln\nbarrels per day from a revised 12.42 mln and refinery use of\noperating capacity was 78.1 pct, off from a revised 79.7 pct.\n    Crude oil imports in the week fell to 3.98 mln bpd from a\nrevised 4.22 mln, API added.\n Reuter\n&#3;',0
'JONES MEDICAL INDUSTRIES INC &lt;JMED> 4TH QTR NET Shr six cts vs five cts\n    Net 199,037 vs 135,587\n    Sales 1,594,895 vs 1,368,959\n    Avg shrs 3.1 mln vs 2.5 mln\n    Year\n    Shr 25 cts vs 19 cts\n    Net 695,398 vs 446,426\n    Sales 5,785,365 vs 4,520,781\n    Avg shrs 2.8 mln vs 2.4 mln\n Reuter\n&#3;',0
'MAUI LAND AND PINAPPLE CO INC QUARTERLY DIVIDEND Qtly div 12-1/2 cts vs 12-1/2 cts\n    Pay March 31\n    Record Feb 27\n Reuter\n&#3;',0
'U.S. WINE EXPORTS ROSE 15 PER CENT LAST YEAR Exports of American wine rose 14.9\nper cent last year to a total of 7.2 million gallons, the Wine\nInstitute said.\n    The San Francisco-based promotional group said 95 per cent\nof the exported wine was from California and the top three\nmarkets were Canada, Japan and Britain.\n    Japan, which edged out Britain as the leading importer of\nAmerican wines in 1985, continued in second place.\n    Canadian imports rose 3.2 per cent to 2.6 million gallons;\nJapan, 9.9 per cent to 1.2 million gallons, and Britain, 20.2\nper cent to 962,360 gallons.\n    A spokesman for the institute said the declining value of\nthe dollar and strong promotional efforts on the part of the\nCalifornia wine industry contributed significantly to the\nincreased shipments.\n    The 1986 wine exports were valued at 34.7 mln dlrs, up from\n27.6 mln dlrs the previous year.              \n Reuter\n&#3;',0
'USDA TO REDUCE CITRUS ESTIMATING PROGRAM the U.S. Agriculture Department\'s\nNational Agricultural Statistics Services (NASS) said it will\nchange its citrus estimate program for California and Arizona,\nstarting in 1988.\n    NASS said it will discontinue California forecasts for\nlemons during December, February, March, May and June and for\ngrapefruit and tangerines for those months plus November.\n    Forecasts for lemons will be issued in October, November,\nJanuary, April and July and for grapefruit in October, January,\nApril, and July and for tangerines in October,  January and\nApril. There will be no change in the estimating program for\nCalifornia oranges.\n    Arizona forecasts will be dropped for lemons, oranges,\ngrapefruit and tangerines in November, December February,\nMarch, May and June, with forecasts retained in October,\nJanuary, April and July, it said.\n    There will be no changes in the estimating program for\ncitrus in Texas or Florida.\n Reuter\n&#3;',0
'&lt;TRIMAC LTD> YEAR NET Shr nine cts vs six cts\n    Net 3,500,000 vs 2,500,000\n    Revs 294.0 mln vs 351.5 mln\n    Note: 1986 year includes tax gain of 1,700,000 dlrs\n Reuter\n&#3;',0
'OPPENHEIMER UPS VIACOM &lt;VIA> STAKE TO 7.7 PCT Oppenheimer and Co, a New York\nbrokerage firm, said it raised its stake in Viacom\nInternational Inc to the equivalent of 2,709,600 shares, or 7.7\npct of the total, from 2,232,400 shares, or 6.3 pct.\n    In a filing with the Securities and Exchange Commission,\nOppenheimer said it bought a net 477,200 Viacom common shares\nbetween Jan 19 and March 3 at prices ranging from 40.50 to an\naverage of 49.31 dlrs each. Part of its stake is in options.\n    It said it bought the shares as part of its arbitrage and\ninvestment business. Movie theater magnate Sumner Redstone and\na Viacom management group are in a bidding war for Viacom.\n Reuter\n&#3;',0
'EMPI INC &lt;EMPI> 4TH QTR LOSS Shr loss 25 cts vs profit 11 cts\n    Net loss 446,005 vs profit 185,325\n    Sales 2.4 mln vs 2.5 mln\n    12 mths\n    Shr loss 16 cts vs profit 41 cts\n    Net loss 282,305 vs profit 709,787\n    Sales 10.1 mln vs nine mln\n Reuter\n&#3;',0
'U.S. SENATE PANEL COULD CONSIDER TRADE MEASURE The U.S. Senate Agriculture Committee\nmay take up a bill tomorrow that would strengthen the\nactivities of U.S. agricultural trade teams in selected\ndeveloping countries, committee staff said.\n    The measure, sponsored by committee Chairman Patrick Leahy\n(D-Vt.) and Sen. John Melcher (D-Mont.), would establish trade\nteams of between six and nine persons drawn from federal\nagencies and private voluntary organizations, staff said.\n    The trade missions would seek to generate interest in the\nU.S. government\'s food donation and commercial programs --\nPL480, Section 416, export credit and export enhancement -- and\nupon return be required to advocate extension of concessional\nor commercial benefits to interested countries.\n    The trade teams would be made up of representatives of the\nU.S. Agriculture Department, State Department, the Agency for\nInternational Development and private voluntary organizations\nsuch as U.S. Wheat Associates.\n    The bill would require teams within six months to visit\nseven countries: Mexico, Philippines, Indonesia, India,\nBangladesh, Senegal and Nigeria.\n    Within one year after passage of the measure, another eight\ncountries would have to be visited: Peru, Kenya, the Dominican\nRepublic, Costa Rica, Malaysia, Venezuela, Tunisia and Morocco.\nOther countries could be added to the list.\n    Senate staff members said the bill, still in the drafting\nstages, had broad support and was expected to be approved by\nthe committee tomorrow.\n Reuter\n&#3;',0
'FLORIDA PUBLIC &lt;FPUT> SPLITS STOCK, UPS DIV Florida Public Utilities Co\nsaid its board declared a three-for-two stock split on its\ncommon stock.\n    It said holders of record April 15 will receive one\nadditional share May one for each two shares held.\n    The company also said it raised the dividend on its common\nstock by two cts to 33 cts a share on a pre-split basis.\n    The dividend is payable April one to holders of record\nMarch 18.\n Reuter\n&#3;',0
'CITY INVESTING TRUST &lt;CNVLZ> SETS CASH PAYOUT City Investing Co Liquidating Trust\nsaid it declared a cash distribution of 25 cts a unit, payable\nApril 10 to unit-holders of record April one.\n    The trust last paid a stock distribution of General\nDevelopment Corp &lt;GDB> shares in July.\n Reuter\n&#3;',0
'FCOJ SUPPLIES SIGNIFICANTLY ABOVE YEAR AGO-USDA Total supply of frozen concentrated\norange juice (FCOJ) in 1986/87 is expected to be significantly\nabove year-earlier levels, even with carry-in stocks well below\nthe previous season, the U.S. Agriculture Department said.\n    In a summary of its Fruit Situation Report, the Department\nsaid Florida\'s imports of FCOJ, mostly from Brazil, have shown\nsharp gains to date.\n    The Department noted the price of FCOJ will probably be\naffected by the final decision, scheduled for April 22, on\nwhether the U.S. considers Brazilian FCOJ exports to the U.S.\nhave caused injury.\n    Continuing strong demand for fresh and processing fruit\ncoupled with seasonal declines in supplies mean that grower\nprices will remain higher this spring than a year earlier.\n    The department said stocks of fresh apples in cold storage\nat the beginning of February were moderately larger than a year\nearlier, but strong demand has kept apple prices firm.\n    In view of the strong demand and seasonally reduced\nsupplies, apple prices are projected to stay firm.\n    During the remainder of 1986/87, supplies of most processed\nnoncitrus fruit will be smaller than a year ago, it said.\n    Movement of canned fruit has improved, and remaining\nsuppies for some canned fruit items are tight and as a\nconsequence prices have strengthened, the department said.\n Reuter\n&#3;',0
'FLORIDA COMMERCIAL BANKS INC &lt;FLBK> DIVIDEND Qtly div 14 cts vs 19 cts prior\n    Pay March 31\n    Record March 16\n    Note: Quarterly dividend for prior quarter included special\npayout of five cts a share.\n Reuter\n&#3;',0
'&lt;TIMMINCO LTD> YEAR NET Oper shr 33 cts vs 33 cts\n    Oper net 3,330,000 vs 2,969,000\n    Revs 95.9 mln vs 92.0 mln\n    Avg shrs 8,610,068 vs 7,603,219\n    Note: 1986 net excludes extraordinary gain of 577,000 dlrs\nor seven cts shr vs yr-ago gain of 71,000 dlrs or one ct shr.\n Reuter\n&#3;',0
'&lt;UNITED FIRE AND CASUALTY> 4TH QTR NET Shr profit 31 cts vs loss 20 cts\n    Net profit 1,044,424 vs loss 515,425\n    Avg shrs 3,406,841 vs 2,544,531\n    Year\n    Shr profit 2.83 dlrs vs profit 42 cts\n    Net profit 8,811,142 vs profit 1,058,503\n    Avg shrs 3,111,464 vs 2,544,531\n    Note: Full company name is United Fire and Casualty Co\n    Net includes realized gains of 93,551 dlrs and 764,177\ndlrs, respectively, in 1986 qtr and year, and of 92,075 dlrs\nand 972,935 dlrs, respectively, in 1985 qtr and year.\n    1985 results restated for three-for-two stock split. Net\nincome for 1985 has been restated due to a change in the method\nused in computing deferred acquisition costs.\n    1986 results include the effect of a stock offering\nresulting in the issuance of an additional 862,500 shares of\ncommon stock.\n Reuter\n&#3;',0
'&lt;POWER CORP OF CANADA> 4TH QTR NET Oper shr 30 cts vs 24 cts\n    Oper net 38,686,000 vs 28,384,000\n    Revs 42.3 mln vs 31.2 mln\n    Year\n    Oper shr 1.05 dlrs vs 94 cts\n    Oper net 136,594,000 vs 110,831,000\n    Revs 153.3 mln vs 125.1 mln\n    Note: Fourth quarter results exclude extraordinary and\nother items which raised final 1986 net to 62,485,000 dlrs or\n49 cts a share and lowered final 1985 net to 18,941,000 dlrs or\n16 cts a share in 1985.\n    Full-year results exclude extraordinary and other items\nwhich raised final 1986 net to 237,961,000 dlrs or 1.87 dlrs\nper share and 1985 net to 152,049,000 or 1.29 dlrs per share.\n    1985 results restated to reflect June, 1986 two-for-one\nstock split.\n Reuter\n&#3;',0
'U.S. CORN, SORGHUM PAYMENTS 50-50 CASH/CERTS Eligible producers of 1986 crop U.S.\ncorn and sorghum will receive an estimated 600 mln dlrs in\ndeficiency payments -- 50 pct in generic commodity certificates\nand 50 pct in cash, the U.S. Agriculture Department said.\n    It said corn producers will receive about 515 mln dlrs and\nsorghum producers about 85 mln dlrs.\n    Only the cash portion of the payments will be subject to\nthe 4.3 pct reduction in compliance with the Gramm-Rudman\nbudget deficit control act of 1985, it said.\n    Corn and sorghum producers who requested advance deficiency\npayments have already received about 2.8 billion dlrs and 225\nmln dlrs, respectively, USDA said.\n    The Department said deficiency payment rates of 51.5 cents\nper bushel for corn and 49 cents per bushel for sorghum were\nreceived by producers requesting advance payments.\n    Deficiency payments are calculated as the difference\nbetween an established target price and the higher of the basic\nloan rate, or the national average price received by farmers\nduring the first five months of the marketing year --\nSeptember-January.\n    National weighted average market prices for the first five\nmonths of the season were 1.46 dlrs per bushel for corn and\n1.33 dlrs per bushel for sorghum. Eligible corn producers will\nbe paid 63 cts per bushel, based on the difference between the\n3.03 target price and the 2.40 dlr per bushel basic loan rate.\n    Sorghum producers\' deficiency payment rate will be 60 cents\nper bushel, based on the difference between the 2.88 dlrs per\nbushel target price and the 2.28 dlrs per bushel basic loan\nrate.\n    The deficiency payment rates for both commodities are the\nmaximum permitted by law, the department said.\n    Eligible corn and sorghum producers will receive another\n1986 crop deficiency payment in October if the national average\nmarket prices received by farmers during the entire marketing\nyear for both commodities are below the basic loan rates, the\ndepartment said.\n    The payments will be issued through local Agricultural\nStabilization and Conservation Service offices, it said.\n Reuter\n&#3;',1
'USDA PROPOSES NAME CHANGES IN BEEF GRADE The U.S. Agriculture Department\nproposes to rename the \"USDA Good\" grade of beef to \"USDA Select.\"\n    The department said the proposed change is in response to a\npetition from Public Voice for Food and Health Policy and would\npresent a more positive image of this grade of beef and help\ncalorie-conscious consumers select leaner cuts of meat.\n    Under current rules, the \"good\" grade of meat has less\nmarbling and fat than the \"prime\" or \"choice\" grades, it said.\n    Standards for all of the grades would remain unchanged\nunder the proposal.\n Reuter\n&#3;',0
'VENDO CO &lt;VEN> 4TH QTR LOSS Shr loss 1.48 dlrs vs loss 36 cts\n    Net loss 4,036,000 vs loss 983,000\n    Sales 16.6 mln vs 17 mln\n    12 mths\n    Shr loss 1.88 dlrs vs profit 71 cts\n    Net loss 5,113,000 vs profit 1,904,000\n    Sales 85.4 mln vs 88.5 mln\n    Note: Prior year net includes extraordinary loss of 298,000\ndlrs in qtr and extraordinary profit of 718,000 dlrs in year.\n Reuter\n&#3;',0
'AUSTRALIAN GOVERNMENT TO PAY SUBSIDIES--USDA The Australian Government will likely\nreimburse the Australian Wheat Board, AWB, about 132 mln (U.S.)\ndlrs to pay wheat farmers for their 1986/87 crop, the U.S.\nAgriculture Department said.\n    In its report on Export Markets for U.S. Grains, the\ndepartment said the sharp fall in world wheat prices has\nreduced the export sales revenue of the AWB to levels\ninsufficient to cover its breakeven export price estimated at\naround 98 dlrs per tonne.\n     For example the recent large sales of wheat to China (1.5\nmln tonnes) and Egypt (2.0 mln tonnes) were well below the\nbreakeven export price, it said.\n    Australian wheat farmers normally receive an advance\npayment known as the Guaranteed Minimum Price, GMP, calculated\nat 90 pct of the average of estimated returns in the current\nyear and the two lowest of the previous three years, the\ndepartment said.\n    In addition, deductions for taxes, freight, handling and\nstorage are deducted from the GMP the farmer receives.\n    But the department said the Australian Bureau of\nAgricultural Economics, BAE, predicts wheat production will\ndrop sharply from 17.8 mln tonnes in 1986/87 to 13.5 mln in\n1989/90.\n    The decline will result from low world grain prices leading\nto shifts to livestock and other crops which could benefit U.S.\nwheat exports, the department said.\n Reuter\n&#3;',1
'LAWSON PRODUCTS INC &lt;LAWS> RAISES QTLY PAYOUT Qtly div seven cts vs six cts prior\n    Pay April 17\n    Record April three\n Reuter\n&#3;',0
'KANEB ENERGY &lt;KEP> MAY OMIT FUTURE PAYOUTS Kaneb Energy Partners Ltd said it may be\nforced to omit or lower future quarterly cash distributions\nbecause of a contract dispute with two major customers and the\ncontinued slump in oil and gas prices.\n    The partnership said, however, that it will pay a regular\nquarterly distribution of 60 cts a unit on April 15 to holders\nof record March 31.\n Reuter\n&#3;',0
'BRASCAN LTD &lt;BRS.A> 4TH QTR NET Shr 50 cts vs 46 cts\n    Net 43.0 mln vs 34.8 mln\n    YEAR\n    Shr 1.55 dlrs vs 1.38 dlrs\n    Net 136.8 mln vs 112.9 mln\n    Note: Holding company.\n Reuter\n&#3;',0
'FLORIDA COMMERCIAL BANKS INC &lt;FLBK> QTLY DIV Qtly div 14 cts vs 14 cts prior\n    Payable March 31\n    Record March 16\n Reuter\n&#3;',0
'&lt;CHAUVCO RESOURCES LTD> YEAR NET Shr 16 cts vs 35 cts\n    Net 476,000 vs 929,000\n    Revs 3,000,000 vs 3,600,000\n Reuter\n&#3;',0
'JAPAN CUTTING CHINA CORN COMMITMENTS - USDA Japanese traders have apparently\nsharply reduced commitments to buy Chinese corn over the next\nsix months due to high prices, the U.S. Agriculture Department\nsaid.\n    In its World Production and Trade Report, the department\nsaid traders indicated China may lack supplies or be unwilling\nto sell at current low world prices.\n    If the reports are confirmed, China\'s major export\ndestinations such as USSR, Japan, and South Korea, could\nincrease purchases of U.S. corn, it said.\n    China is currently forecast to export 5.5 mln tonnes of\ncorn during 1986/87 (Oct-Sept), it said.\n Reuter\n&#3;',0
'SAUDI SUCCESS SEEN IN CURBING OPEC PRODUCTION Saudi Arabia will succeed in pressuring\nother members of the Organization of Petroleum Exporting\nCountries to stay within their production quotas, said Morgan\nStanley Group managing director John Wellemeyer.\n    Wellemeyer, speaking to reporters at an offshore oil\nengineering conference, also said he expected OPEC nations to\nattempt to hold prices under 20 dlrs a barrel for several years\nto keep industrial demand for residual fuel oil strong.\n    \"Over the next few weeks I think you\'ll see a concerted\neffort by the Saudis to get production down,\" Wellemeyer said.\n    \"The Saudis are committed to that price level (of 18 dlrs a\nbarrel) and are willing to make it happen again,\" he said.\n    In recent weeks, oil prices fell to the 16 to 17 dlrs a\nbarrel level on market reports of some OPE members producing\nabove their quota, pushing total OPEC production to 15.8 mln\nbarrels per day. But prices rebounded today, with April U.S.\ncrude prices up about one dlr to over 17 dlrs a barrel on a\nbelief Saudi Arabia is attempting to curb OPEC output.\n    Wellemeyer said that sharp declines in U.S. oil production\ncould push demand for OPEC oil above 20 mln barrels per day as\nearly as 1989 and up to 24 mln barrels per day by 1993.\n    Although the projected increases in demand for OPEC oil\nshould strengthen world prices, Wellemeyer said he believed the\norganization would hold its official price below 20 dlrs a\nbarrel for some time to prevent residual fuel users from\nswitching to natural gas supplies. The interfuel swing market\naccounts for about eight mln barrels a day, or 18 pct of the\nworld demand for oil.\n Reuter\n&#3;',0
'EC DRIVING TO CAPTURE BRAZIL WHEAT MARKET - USDA The European Community, EC, sold\n75,000 tonnes of soft wheat at a subsidized price of between 85\nand 89 dlrs per tonne FOB for March delivery in a continuing\nbid to establish itself in the Brazilian wheat market, the U.S.\nAgriculture Department said.\n    The sale sharply undercut the U.S. offer of 112 dlrs per\ntonne FOB for 33,000 tonnes of wheat, it said in its latest\nreport on Export Markets for U.S grains.\n    EC sales to Brazil total about 225,000 tonnes during\n1986/87 (July-June) in stark contrast to only 50,000 tonnes in\nthe 1985/86 season, it said.\n    The increasing presence of EC wheat in Brazil comes at a\ntime when the Brazilian Wheat Board, BWB, expects the wheat\nimport market will expand to 3.4 mln tonnes from the current\nforecast of 3.0 mln in the 1986/87 year.\n    The BWB cites record consumption and an eventual decline in\ndomestic production, and says government plans to lower the\nguaranteed price of wheat from 242 dlrs per tonne to 180 dlrs\nwill contribute to greater import demand, the USDA said.\n    It said the BWB expects the U.S. to be major supplier of\nthe additional 400,000 tonnes, but commitments for purchase of\nU.S. wheat through two-thirds of 1986/87 year total only\n600,000 tonnes versus 700,000 a year ago.\n Reuter\n&#3;',1
'ZENITH LABS &lt;ZEN> WILL REPORT 4TH QTR LOSS Zenith Laboratories Inc said the\ncompany will report a fourth quarter loss, and the amount will\nbe determined on completion of its year end audit. The company\ndid not elaborate further.\n    For the third quarter ended Sept 30, 1986, Zenith reported\na loss of 3,451,000 dlrs or 16 cts per share, adjusted for a\nMay 1986 2-for-1 stock split.\n    The company also said it received Food and Drug\nAdministration approval to market Cefadroxil, a generic version\nof an antibiotic with domestic sales exceeding 50 mln dlrs in\n1986.\n    Zenith said it will not market the drug until \"questions\nrelating to the applicability of certain patents have been\nresolved.\"\n Reuter\n&#3;',0
'MANDATORY PRODUCTION CONTROLS DEBATED AT APC Delegates to the American Pork Congress\nwill decide whether or not they want mandatory production\ncontrols when they vote on the official pork producer policy\nwednesday, the National Pork Producers Council said.\n    The American Pork Congress, APC, delegates, listened to\nboth sides of the question when former Iowa Congressman Berkley\nBedell and Bill Lesher, USDA Assistant Secretary for Economics\nfor the years 1981 to 1985 debated at the convention in\nIndianapolis.\n Reuter\n&#3;',0
'TAIWAN BUYS 25,000 TONNES U.S. SOYBEANS Taiwan bought 25,000 tonnes U.S.\nsoybeans today at 203.40 dlrs a tonne, C and F, Gulf, for May\n15-30 shipment, private export sources said.\n Reuter\n&#3;',0
'TAIWAN PASSES ON U.S. CORN, WILL RETENDER Taiwan passed on its tender overnight\nfor 25,000 tonnes of U.S. corn and 49,000 tonnes U.S. sorghum,\nprivate export sources said.\n    Taiwan will retender for the corn, for May 15-30 shipment\nif via the Gulf, or June 1-15 via Pacific northwest, on March\n6, but has not rescheduled a tender for sorghum, they said.\n Reuter\n&#3;',1
'BANGLADESH PASSES ON TENDER FOR SOFT WHEAT Bangladesh passed on its weekend tender\nfor 100,000 tonnes of optional origin soft wheat, private\nexport sources said.\n Reuter\n&#3;',1
'PORK CHECKOFF REFUNDS LESS THAN EXPECTED The National Pork Board announced at the\nAmerican Pork Congress convention in Indianapolis that refunds\nunder the legislative checkoff program are running less than\nexpected.\n    The Board oversees collection and distribution of funds\nfrom the checkoff program that was mandated by the 1985 farm\nbill. Virgil Rosendale, a pork producer from Illinois and\nchairman of the National Pork Board, said over 2.2 mln dlrs was\ncollected in January and refunds are running almost nine pct,\nconsiderably less than expected.\n    \"We believe that this indicates good producer support for\nthe new checkoff. We\'re getting good compliance from markets,\nfrom packers and from dealers,\" Rosendale said.\n Reuter\n&#3;',0
'SOUTH AFRICA CORN EXPORTS COULD BE REDUCED-USDA Despite earlier optimistic\nindications, the South African corn crop is at a critical stage\nin its development and recent reports of heat stress could\nreduce production and therefore exportable supplies, the U.S.\nAgriculture Department said.\n    In its report on Export Markets for U.S. Grains, the\ndepartment said South Africa\'s corn exports in the 1986/87\n(Oct-Sept) season are estimated at 2.5 mln tonnes, up 40 pct\nfrom the previous year.\n    The re-emergence of South Africa as a competitor follows a\nperiod of severe droughts, which at one point required South\nAfrica to import 2.7 mln tones of U.S. corn in 1983/84, it\nsaid.\n    Since those imports in 1983/84, the U.S. has been facing\nincreased competition from South Africa in Taiwan and Japan.\n    But if South Africa is perceived as lacking available\nsupplies, purchases of U.S. corn may be further stimulated, the\ndepartment said.\n Reuter\n&#3;',1
'&lt;DEXLEIGH CORP> SIX MTHS DEC 31 NET Shr four cts vs three cts\n    Net 4,505,000 vs 4,493,000\n    Revs 23.3 mln vs 21.4 mln\n Reuter\n&#3;',0
'CBT TRADERS LOOK AHEAD TO SPRING PLANTINGS Chicago Board of trade grain traders and\nanalysts voiced a lot of interest in how farmers planned to\nhandle their upcoming spring plantings, prompting sales of new\ncrop months of corn and oats and purchases in new crop soybeans\nin the futures markets.\n    Professionals in the grains trade think that farmers will\nbe more willing to stick with corn acres than soybeans because\ncorn is protected by the acreage reduction program. That gives\ndeficiency payments to farmers if corn prices stay low.\n    Farmers can place soybeans under the loan program if they\nsign-up for reduced acreage, but they have no price guarantees.\n    With the price outlook for both commodities so dismal,\ntraders believe farmers will want to stick with a sure thing\nrather than gamble on soybeans, even though the new crop\nsoybean/corn ratio of 2.9/1 would make planting soybeans more\nattractive under normal circumstances.\n    An announcement late Friday that the USDA will lift the\nlimited cross-compliance requirement for the 1987 oats crop,\nmeans farmers will be able plant an estimated two to three mln\nmore oat acres this year than last without being penalized,\ntraders said.\n    Here too, acres some farmers may have been thinking of\nshifting to soybeans will now be planted with oats, due to the\nmore attractive deal from the government, they added.\n    Cotton prices are almost twice what they were just six\nmonths ago, which should prompt many farmers in the South to\nput soybean land back into cotton.\n    One of the reasons for the steady increase in soybean\nproduction in recent years has been a general shift of acres in\ntraditional cotton producing regions of the South to soybeans,\nwhich are easier to grow, one commercial trader said.\n Reuter\n&#3;',1
'U.S. CONGRESS TO LOOK AT SOIL PROGRAM EXEMPTIONS The Senate Agriculture Committee is\nexpected to take up a bill tomorrow that would exempt from\ngovernment conservation regulations those farmers who have\nrotated alfalfa and other multiyear grasses and legumes with\nrow crops, committee staff said.\n    Under current so-called \"sodbuster\" law, farmers who planted\nalfalfa and other multiyear grasses and legumes on highly\nerodible land in the years 1981 through 1985 lose federal farm\nprogram benefits if they produce a row crop on that land in\nlater years.\n    Sen. Edward Zorinsky (D-Neb.), sponsor of the measure, said\nrecently that those crop rotating practices resulted in less\nerosion than the practices of many farmers who produced\nstrictly row crops.\n Reuter\n&#3;',1
'NATIONAL PORK BOARD ALLOCATES 2.4 MLN DLRS The National Pork Board on Monday\nallocated 2.4 mln dlrs in discretionary funds, collected from\nthe 100 pct national checkoff program, to three industry\norganizations.\n    The National Pork Producers Council, NPPC, will receive\nalmost 1.8 mln dlrs for use in the areas of food service,\nconsumer education and marketing. In addition the board\nallocated 375,000 dlrs in use in \"Pork - The Other White Meat\"\ncampaign, according to a Pork Board spokesperson.\n    The National Livestock and Meat Board will receive 644,000\ndlrs to continue work in educating health care officials.\n120,000 dlrs in matching funds will be provided to the meat\nboard for use in the development of a better market for\nprocessed meats.\n    The Meat Export Federation was awarded 50,000 dlrs to\nincrease the market for chilled and processed U.S. pork in\nJapan and Singapore. Retail stores in these two countries will\nbe providing additional funding for the program.\n    A total of 5,000 dlrs for work in encouraging McDonalds to\nexpand its McRib sandwich to Japan and Singapore was also\nawarded to the Meat export Federation.\n Reuter\n&#3;',0
'NIPPON STEEL INVESTS 8 MLN DLRS IN GTX CORP GTX Corp said Nippon Steel Co of Japan,\nin a move to diversify into high technology, invested eight mln\ndlrs in GTX.\n    Nippon\'s move was the result of current exchange rates and\nthe revaluation of the yen, which \"have made the U.S.\nelectronics industry an attractive investment opportunity for\nJapanese corporations,\" according to a GTX statement.\n    GTX noted that Nippon is expecting sales of 27 billion dlrs\nby 1995. Of that amount, six billion dlrs is targeted for\nelectronics. GTX, located in Phoenix, makes computerized\nsystems that read drawings and transfer them into data bases.\n Reuter\n&#3;',0
'C.T.C. DEALER EXTENDS BID FOR CANADIAN TIRE C.T.C. Dealer Holdings Ltd said it\nextended its previously announced offer for 49 pct of &lt;Canadian\nTire Corp Ltd> to midnight on March 26.\n    CTC, a group of Canadian Tire dealers, which already owns\n17 pct of Canadian Tire, is currently appealing in an Ontario\ncourt against a previously announced Ontario Securities\nCommission ruling blocking CTC\'s 272 mln dlr bid.\n    The blocked bid did not include non-voting shareholders,\nwho hold 96 pct of Canadian Tire equity.\n Reuter\n&#3;',0
'ROCKWELL &lt;ROK> SEES IMPROVEMENT IN 1987 Rockwell International Corp\ncontinues to expect significant improvement in 1987 results,\ndespite the somewhate disappointing performance of one of its\nbusiness segments, President Donald Beall told Reuters.\n    Rockwell reported net earnings in its first quarter ended\nDecember 31 of 149.4 mln dlrs, or 1.05 dlrs per share, compared\nto 125.8 mln dlrs, or 84 cts per share a year ago.\n    Operating earnings, however, were off about four pct, and\nanalysts have attributed the decline to Rockwell\'s\nAllen-Bradley unit, which has suffered from weakness in the\nindustrial automation market.\n    \"It is in a soft market now, but we are not concerned. It\nis moving forward with market development and is enhancing\nmarket share,\" Beall said of Allen-Bradley unit.\n    Beall, who was in Los Angeles to address a Technology\nmanagement conference, said first quarter sales for the\nAllen-Bradley unit were flat as compared to a year earlier. He\nsaid the company does not break out operating earnings by unit\non a quarterly basis.\n    Beall said the recent trend toward cost sharing in the\nresearch and development phase of government contracts should\nnot have a major impact on Rockwell\'s near-term performance.\n    He noted, however, the increasing focus on cost sharing\ncould limit technological innovation.\n    \"I worry that we are heading into a period of misuse of\ncontracting approaches too early in the development stages of\nimportant military contracts,\" Beall said, adding, \"long-term,\nwe have a very serious problem.\"\n    In addition, Beall told the conference the greatest\ncompetitive threat to defense contractors is in defense\nelectronics, due to the government\'s attempt to take advantage\nof competitively priced products made outside the U.S.\n Reuter\n&#3;',0
'MICKELBERRY CORP &lt;MBC> SETS QTLY PAYOUT Qtly div 1-1/2 cts vs 1-1/2 cts prior\n    Pay March 31\n    Record March 13\n Reuter\n&#3;',0
'SWAP DEALERS UNVEIL STANDARD CONTRACT The International Swap Dealers\nAssociation has developed the first standard form contract for\nuse by arrangers of currency and interest rate swap\ntransactions, said Thomas Jasper, the Association\'s\nco-chairman.\n    The contract, unveiled at a press conference , is expected\nto make the 300 billion dlr a year swap market more efficient,\nhe said. \"The contracts wil accelerate the process and reduce\nthe expense of swap documentation,\" Japsper said.\n    Privately, eurobond traders estimate that about 80 pct of\nall new issues eventually become part of either an interest\nrate or currency swap.\n    An interest rate swap occurs when two issuers, usually\nacting through a bank middleman, agree to accept each other\'s\ninterest payments on debt securities. Usually, the issuer of a\nfloating rate debt security swaps into fixed-rate debt and vice\nversa. But the obligation for repayment of the debt remains\nwith the original borrower.\n    Bank regulators have become concerned about the use of\nswaps because the middleman, usually a bank, takes on some\nportion of the risk but is not required to show it on the\nbalance sheet as a liability and may not have sufficient\ncapital to cushion it.\n    Kenneth McCormick, a co-chairman of the ISDA and president\nof Kleinwort Benson Cross Financing Inc, said the Bank of\nEngland and the U.S. Federal Reserve Board were expected later\ntoday to announce joint proposals for setting minimum capital\nstandards for counterparties in swaps.\n    The standards are part of the recently announced\nconvergence agreement between the two countries in which\nregulators have attempted to set similar capital requirements\nfor institutions.\n    McCormick told reporters the ISDA was concerned that a\n\"level playing field\" be maintained in the swaps market.\n    He said if U.K. And U.S. Banks were required to hold more\nprimary capital against swap transactions than is the current\npractice, the additional costs would have to be passed on to\nissuers.\n    The issuers might then choose to do business with\nlower-cost banks which are not subject to U.S. Or U.K. Banking\nrules.\n    He said the ISDA had been working on a code of conduct for\nswap dealers as part of its self-regulatory effort.\n    That code should be completed within the next few weeks, he\nsaid.\n REUTER\n&#3;',0
'METROPOLITAN FEDERAL &lt;MFTN> TO MAKE ACQUISITION Metropolitan Federal Savings\nand Loan Association said it has signed a letter of intent to\nacquire American Trust of Hendersonville, Tenn., for an\nundisclosed amount of cash.\n    American Trust had year-end assets of over 40 mln dlrs.\n Reuter\n&#3;',0
'GM\'S &lt;GM> PONTIAC HAS INTEREST RATE INCENTIVES General Motors Corp said its\nPontiac Division has established an interest rate support\nincentive program, effective immediately, as an alternative to\nits current option bonus program.\n    The company said qualified buyers of Pontiacs may now\nselect special finance rates of 3.9 pct on 24-month contracts,\n7.9 pct on 36-month contracts, 8.9 pct on 48-mopnth contracts\nor 9.9 pct on 60-month contracts.  The program is scheduled to\nexpire April 30.\n    Under the option bonus program, which is also scheduled to\nexpire April 30, buyers receive cash bonuses on the purchase of\nPontiacs equipped with option group packages, with the amount\ndepending on the option level on each vehicle.\n    The company said the special interst rate program applies\nto ann new 1986 and 1987 Pontiacs sold from dealer stock and\ndelivered to customers during the program period.  A customer\nmay choose only one program, it said.\n Reuter\n&#3;',0
'&lt;WESTAR MINING LTD> 4TH QTR LOSS Shr not given\n    Oper loss 5,900,000 vs profit 9,300,000\n    Revs 105.3 mln vs 131.2 mln\n    Year\n    Shr not given\n    Oper loss 21.7 mln vs profit 34.7 mln\n    Revs 370.7 mln vs 515.1 mln\n    Note: 67 pct owned by &lt;British Columbia Resources\nInvestment Corp>\n    Note continued: 1986 qtr excludes extraordinary loss of 3.6\nmln dlrs versus loss of 294.0 mln dlrs in prior year\n    1986 year excludes extraordinary loss of 79.1 mln dlrs\nversus loss 221.5 mln dlrs in prior year\n Reuter\n&#3;',0
'DOW CHEMICAL &lt;DOW> TO SELL SOUTH AFRICAN UNIT Dow Chemical Co said it has\nagreed in principle to sell its industrial chemicals and\nplastics business interests in South Africa and related assets\nto a group of South African investors for undisclosed terms,\ncompleting the sale of the company\'s South African assets\n    Dow said it will continue to support its educational and\nhealth programs for South African blacks.\n Reuter\n&#3;',0
'WILLIAMS COS &lt;WMB> YEAR LOSS Shr loss 6.97 dlrs vs profit 92 cts\n    Net loss 240 mln vs profit 31.6 mln\n    Revs 1.9 billion vs 2.5 billion\n    NOTE: 1986 includes loss of 250 mln dlrs or 7.27 dlrs a\nshare from discontinued operations and writedowns of holdings\nin Texasgulf Inc. 1985 restated.\n Reuter\n&#3;',0
'GEONEX SEES SALES HURT BY PRODUCTION SHIFT Geonex Corp &lt;GEOX> said\nBellSouth Corp &lt;BLS> unit Southern Bell Telephone and Telegraph\nCo\'s decision to postpone the start up of new conversion\nassignments at Geonex\'s Chicago Aerial Survey unit could\nnegatively affect its fiscal 1987 revenues.\n    The company said it had expected higher revenues from the\nrecords conversion work, but it now foresees revenues from\nSouthern Bell work at about eight mln dlrs, the same level as\nlast fiscal year.\n    Geonex said Southern Bell will let CAS continue work in\nprogress and it expects to perform mechanized posting and\nrecords conversion for Southern Bell through 1989.\n    But, it added that the Southern Bell decision has forced it\nto pursue opportunities with other telephone companies and\nmunicipalities to replace the Southern Bell work.\n Reuter\n&#3;',0
'NWA INC 4TH QTR SHR PROFIT 45 CTS VS LOSS NINE CTS\n ',0
' UK INTERVENTION BD SAYS EC SOLD 60,500 TONNES WHITE SUGAR AT REBATE 43.147 ECUS.\n ',0
'(CRIME CONTROL INC) 4TH QTR NET LOSS Shr loss 2.03 dlrs vs loss 85 cts\n    Net loss 10,742,113 vs loss 3,700,712\n    Revs 8,027,065 vs 8,689,008\n    Avg shrs 5.3 mln vs 4.4 mln\n    Year\n    Shr loss 2.45 dlrs vs loss 1.73 dlrs\n    Net loss 11,607,104 vs loss 7,442,825\n    Revs 32.6 mln vs 33.2 mln\n    Avg shrs 4.7 mln vs 4.3 mln\n    NOTE: 1986 net loss includes a fourth quarter charge of\n10.5 mln dlrs from writeoffs of certain assets.\n    1985 net loss includes a charge of about 2.3 mln dlrs from\nsettlement of class action lawsuit.\n Reuter\n&#3;',0
'U.K. INTERVENTION BOARD DETAILS EC SUGAR SALES A total 60,500 tonnes of current series\nwhite sugar received export rebates of a maximum 43.147\nEuropean Currency Units (Ecus) per 100 kilos at today\'s\nEuropean Community (EC) tender, the U.K. Intervention Board\nsaid.\n    Out of this, traders in the U.K. Received 43,500 tonnes, in\nthe Netherlands 12,000, in Denmark 4,000 and in West Germany\n1,000 tonnes.\n    Earlier today, London and Paris traders said they expected\nthe subsidy for the current season whites campaign for licences\nto end-July to be between 43.00 and 43.45 Ecus per 100 kilos.\n    They had also forecast today\'s total authorised sugar\ntonnage export awards to be between 60,000 and 80,000 tonnes\nversus 103,000 last week when the restitution was 43.699 Ecus.\n REUTER\n&#3;',0
'JAPAN FIRM DEVELOPS ULTRA HEAT-RESISTING RUBBER Shin-Etsu Chemical Co Ltd said it had\ndeveloped an ultra thermal resistance rubber which can be used\nat 250 centigrade continuously without losing its properties.\n    Shin-Etsu put potential demand for the product at two\ntonnes a month mainly for microwave ovens and as a sealant.\n    But increasing use of the product in parts attached to car\nengines will raise demand and the company will boost output to\n10 tonnes by March 1988 from two now, he said.\n Reuter\n&#3;',0
'CASTLE AND COOKE INC &lt;CKE> 4TH QTR LOSS Shr loss 76 cts vs loss 21 cts\n    Net loss 31.9 mln vs loss 3,288,000\n    Revs 380.2 mln vs 311.5 mln\n    Avg shrs 47.1 mln vs 41.2 mln\n    Year\n    Shr profit 56 cts vs profit 56 cts\n    Net profit 43,925,000 vs profit 46,433,000\n    Rev 1.74 billion vs 1.60 billion\n    Avg shares 43,602,000 vs 41,014,000\n    NOTE: Fourth quarter includes after tax loss from\ndiscontinued Flexi-Van operations of 33.9 mln dlrs. Primary\nearnings per share data calculated after deducting preferred\ndividend requirements.\n Reuter\n&#3;',0
'VOICEMAIL INTERNATIONAL INC 4TH QTR LOSS Shr loss 21 cts vs loss 14 cts\n    Net loss 838,069 vs loss 433,875\n    Revs 1,080,068 vs 1,793,398\n    Avg shrs 4,004,826 vs 3,172,537\n    12 mths\n    Shr loss 39 cts vs 11 cts\n    Net loss 1,387,500 vs loss 334,463\n    Revs 6,456,882 vs 5,605,680\n    Avg shrs 3,542,217 vs 3,071,456\n Reuter\n&#3;',0
'MOLECULAR GENETICS INC &lt;MOGN> 4TH QTR LOSS Oper shr loss 22 cts vs loss 13 cts\n    Oper net loss 1,712,916 vs loss 769,539\n    Revs 2,292,972 vs 2,157,895\n    Avg shrs 7,961,602 vs 6,200,293\n    Year\n    Oper shr loss 53 cts vs loss 45 cts\n    Oper net loss 3,562,151 vs 2,543,366\n    Revs 9,117,311 vs 8,251,136\n    Avg shrs 7,169,871 vs 6,186,51\n    NOTE: Current year net both periods excludes charge 430,649\ndlrs from cumulative effect of accounting change for patents.\n    1986 net both periods includes charge of about 458,000 dlrs\nfrom severance obligations.\n    1986 year net includes charge 156,000 dlrs from writeoff of\nseed commitments.\n Reuter\n&#3;',0
'MERRIMAC INDUSTRIES INC &lt;MMAC> 4TH QTR NET Shr five cts vs 29 cts\n    Net 92,641 vs 466,668\n    Sales 4,448,011 vs 4,122,301\n    Year\n    Shr 34 cts vs 1.16 dlrs\n    Net 553,310 vs 1,864,417\n    Sales 16.3 mln vs 16.7 mln\n Reuter\n&#3;',0
'B.C. RESOURCES HAS AGREEMENT ON CREDIT FACILITY &lt;British Columbia\nResources Investment Corp>, earlier reporting higher full year\noperating losses, said it reached agreement in principle with\nfive lenders providing for a 360 mln dlr credit facility over a\nfour year term.\n    The company said the credit facility is extendable under\ncertain circumstances, with annual principal payments of five\nmln dlrs. The agreement is subject to certain lender approvals\nand completion of formal documentation.\n    It earlier reported 1986 losses before extraordinary items\nrose to 26.4 mln dlrs from year-ago 7.2 mln dlrs.\n    B.C. Resources also said dividends on its series 2\npreferred shares and exchangeable preferred shares will remain\nsuspended.\n    However, payment will be made on account of the quarterly\ndividend on the exchangeable preferred shares by the company\'s\ntrustee from a deposit account, B.C. Resources said.\n    Sufficient funds should be available to pay full amount of\nthe March 31, 1987 dividend to exchangeable preferred\nshareholders, with payment expected in early April to\nshareholders of record March 31, the company said.\n    If future dividends are not declared after the April\nexchangeable preferred quarterly payout, future payment will\ndepend on the amount of dividends received from Westcoast\nTransmission Co &lt;WTC>, B.C. Resources said.\n    The company said its increased fourth quarter and full year\noperating losses primarily resulted from lower oil prices and a\nfour month labor shutdown at its Balmer coal mine in British\nColumbia.\n    B.C. Resources also recorded a 99.9 mln dlr extraordinary\nloss, which included losses on disposition of North Sea oil and\ngas interests by 67 pct owned &lt;Westar Mining Ltd>.\n    B.C. Resources\' 1986 extraordinary charge also included a\nwritedown of its investment in Westar Petroleum. Gains on the\nsales of Westar Timber\'s Skeena and Celgar pulp mills and\nTerrace sawmill partially offset the extraordinary loss, the\ncompany said.\n    The company said the asset sales have eliminated B.C.\nResources\' long term financing commitment in the North Sea and\nexposure to the fluctuating pulp market.\n    It also said it cut long term debt in 1986 to 900 mln dlrs\nfrom 1.3 billion dlrs at year-end 1985, and management changes\nand staff cuts have significantly reduced costs.\n Reuter\n&#3;',0
'U.K. MONEY MARKET GIVEN 85 MLN STG LATE HELP The Bank of England said it had provided\nthe money market with late assistance of around 85 mln stg.\n    This brings the bank total help so far today to some 87 mln\nstg and compares with its latest forecast of a 250 mln stg\nshortage in the system today.\n REUTER\n&#3;',0
'CML GROUP INC &lt;CMLI> 2ND QTR JAN 31 NET Shr 72 cts vs 58 cts\n    Net 4,791,000 vs 3,803,000\n    Sales 83.0 mln vs 72.0 mln\n    Avg shrs 6,668,309 vs 6,545,722\n    1st half\n    Shr 88 cts vs 70 cts\n    Net 5,872,000 vs 4,614,000\n    Sales 141.6 mln vs 121.8 mln\n    Avg shrs 6,669,488 vs 6,525,051\n Reuter\n&#3;',0
'DRESS BARN INC &lt;DBRN> 2ND QTR JAN 24 NET Shr 30 cts vs 21 cts\n    Net 3,358,000 vs 2,276,000\n    Sales 43.3 mln vs 33.5 mln\n    1st half\n    Shr 60 cts vs 42 cts\n    Net 6,654,000 vs 4,638,000\n    Sales 86.6 mln vs 66.4 mln\n    NOTE: Share adjusted for three-for-two stock split in May\n1986.\n Reuter\n&#3;',0
'WILLIAMS &lt;WMB> HAS 4TH QTR CHARGE Williams Cos said a fourth quarter charge\nof 250 mln dlrs from discontinued operations and writedowns\ncontributed to a 1986 net loss of 240 mln dlrs or 6.97 dlrs a\nshare against earnings of 31.6 mln dlrs or 92 cts in 1985.\n    The loss in the quarter was 232.3 mln dlrs or 6.75 dlrs\nagainst income of 10.7 mln dlrs or 31 cts a year ago. Revenues\nin the quarter fell to 521.1 mln dlrs from 716.9 mln and in the\nyear fell to 1.9 billion dlrs from 2.5 billion in 1985.\n    Williams also said the previously announced sale of its\nAgrico Chemical Co unit to Freeport-Mcmoran Resource Partners\nLtd has cleared antitrust review and should close next week.\n    The 1987 first quarter will include proceeds from the\nAgrico sale, for 250 mln dlrs cash at closing plus deferred\npayments, and proceeds of 320 mln dlrs from the sale of a stake\nin Peabody Holding Co, completed in January.\n    In the 1986 first quarter, Williams reported net of 14.2\nmln dlrs or 41 cts a share on sales of 796.4 mln dlrs.\n    Williams said the charges in the current year were related\nto an ongoing restructuring. The company said the restructuring\nmoves had improved its balance sheet and improved the outlook\nfor future stability and growth in earnings.\n    Operating profit at the company\'s Northwest Pipeline Corp\nunit fell 4.5 pct to 150 mln dlrs from lower sales. The\nWilliams Natural Gas unit had operating profit of 50.5 mln dlrs\ncompared to 90.9 mln dlrs on lower sales volumes.\n    Profit at Williams Gas Marketing rose to 26 mln dlrs from\nabout 22 mln and the William Pipe Line Co had operating profit\nof 49.4 mln dlrs versus 63.6 mln dlrs a year ago.\n Reuter\n&#3;',0
'PERRY DRUG STORES INC &lt;PDS> 1ST QTR JAN 31 NET Shr 13 cts vs 37 cts\n    Net 1,300,000 vs 3,700,000\n    Sales 189 mln vs 163 mln\n Reuter\n&#3;',0
'NWA INC &lt;NWA> 4TH QTR NET Shr profit 45 cts vs loss nine cts\n    Net profit 9.8 mln vs loss two mln\n    Revs 1.15 billion vs 631.2 mln\n    Year\n    Shr profit 3.26 dlrs vs profit 3.18 dlrs\n    Net profit 76.9 mln vs profit 73.1 mln\n    Revs 3.59 billion vs 2.66 billion\n Reuter\n&#3;',0
'CAMCO INC &lt;CAM> SETS QUARTERLY Qtly div 11 cts vs 11 cts prior\n    Pay April 14\n    Record March 17\n Reuter\n&#3;',0
'SENATE\'S PROXMIRE URGES CURBS ON TAKEOVERS Senate Banking Committee chairman\nWilliam Proxmire called for curbs of hostile corporate\ntakeovers and new restrictions on risk arbitrageurs.\n    \"At the very least, it is high time that we require all risk\narbitrageurs to register seperately and specifically  with the\nSecurities and Exchange Commission and that we consider\nprecluding brokerage firms and their employers from investing\nin, or owning any securities issued by, third party risk\narbitrage operations,\" Proxmire said at the start of a hearing\non corporate takeovers.\n    \"A burning issue must be whether there ought to be a\ncomplete seperation in the future of risk arbitrage and\ninvestment banking,\" Proxmire said.\n    He said he was concerned that hostile takeover attempts\nwere hurting the economy, a view shared by corporate executives\nwho tesitified at the hearing. \"I believe that takeovers have\nbecome so abusive and so tilted in favor of the financial\nbuccaneers that remedial action is required,\" USX Corp chairman\nDavid Roderick said. \"For Congress to allow the takeover game to\ncontinue unchecked, would be economic suicide,\" Champion\nInternational Corp chairman Andrew Sigler added.\n Reuter\n&#3;',0
'SPAIN TO LAUNCH EXPORT DRIVE Spain unveils a 105 billion peseta plan\nthis month aimed at boosting exports to reach European\nCommunity levels, director-general of the INFE export\ninstitute, Apolonio Ruiz Ligero, said.\n    \"The target is to raise exports to 20 pct of Gross Domestic\nProduct over the next four years compared to 15 pct now,\" he\nsaid.\n     \"This is the minimum prevailing level in the EC and there\nis no reason why we should lag behind countries like Italy,\nwhich have a similar productive structure,\" he said.\n    The plan calls for providing soft loans, tax cuts and other\nfiscal benefits to exporters and raising Spain\'s presence in\ninternational trade fairs.\n    Consumer goods such as fashion and wine, as well as\ntraditional industrial exports will be promoted.\n    Ruiz Ligero said INFE would double its annual budget to 20\nbillion pesetas to finance the four-year plan, while the\ngovernment\'s development aid fund (FAD) would provide a special\n25 billion peseta grant.\n    The plan calls for boosting exports by five to six pct in\nreal terms this year after a 7.4 pct decline last year.\n    Ruiz Ligero attributed this drop to a lack of demand in\ndeveloping countries and a rally in domestic consumer demand,\nwhich rose six pct last year after 1.9 pct in 1985.\n    He added that 80 pct of Spain\'s exports went to\nOrganisation for Economic Cooperation and Development (OECD)\ncountries.\n    The EC accounts for 60 pct of the market and exports to the\nCommunity rose seven pct last year. The government plans to\nconcentrate efforts on Western Europe and the U.S.\n    \"The problem is convincing businessmen that exports are\nvital to survival in the context of EC competition,\" he said.\n    He said Spanish businessmen traditionally turned to the\ndomestic market to satisfy rises in consumer demand, while\nturning their backs on foreign markets.\n    \"They have to realise their share of the home market is\ngoing to shrink with growing deregulation,\" he said. \"Foreign\ncompanies are taking up positions in the domestic economy and\nit is it vital to secure a market share abroad.\"\n REUTER\n&#3;',0
'ROSSIGNOL UNIT BUYS CANADIAN SKI BOOT MAKER French ski and tennis equipment maker\n&lt;Skis Rossignol> said its 97.7-pct owned subsidiary &lt;Skis\nDynastar SA> agreed to buy Canadian ski stick and boot\nmanufacturer &lt;CFAS> from &lt;Warrington Inc>.\n    A Rossignol spokesman declined to give financial details\nbut said turnover of CFAS was about 100 mln French francs,\ndoubling the Rossignol group\'s activities in the boot and stick\nsectors.\n Reuter\n&#3;',0
'USF AND G CORP &lt;FG> RAISES QUARTERLY DIVIDEND Qtly div 62 cts vs 58 cts in the prior quarter\n    Payable April 30\n    Record March 20\n Reuter\n&#3;',0
'&lt;BRNF LIQUIDATING TRUST> SETS DISTRIBUTIONS BRNF Liquidating Trust said\ntrustees declared a 13th liquidating dividend of 1.10 dlrs per\nunit, payable April One to holders of record of its Series A, B\nand C certificates on March 18.\n    The trust had paid a 12th liquidating distribution on\nJanuary 15 amounting to 1.750 dlrs on Series A, 1.815 dlrs on\nSeries B and 1.765 dlrs on Series C certificates.\n Reuter\n&#3;',0
'STANLINE INC &lt;STAN> 1ST QTR JAN 31 NET Shr 20 cts vs 15 cts\n    Net 345,970 vs 257,252\n    Revs 14.0 mln vs 13.4 mln\n    NOTE: Share adjusted for five pct stock dividend in\nDecember 1986.\n Reuter\n&#3;',0
'DOW CHEMICAL CO &lt;DOW> UNIT INCREASES PRICES The Dow Chemical Co said its\nEngineering Thermoplastics Department will increase the selling\nprices of standard grades of MAGNUM ABS resins by three cts per\npound.\n    It also announced an increase of five cts per pound for\nperformance grades of the resins.\n    Both increases are effective April 1, 1987.\n\n Reuter\n&#3;',0
'SWIFT ENERGY CO &lt;SFY> 4TH QTR NET Shr 12 cts vs eight cts\n    Net 485,866 vs 316,193\n    Revs 1,741,508 vs 1,440,154\n    Year\n    Shr 28 cts vs 20 cts\n    Net 1,108,314 vs 778,197\n    Revs 5,073,178 vs 3,687,160\n Reuter\n&#3;',0
'BROWNING-FERRIS INDUSTRIES INC &lt;BFI> IN PAYOUT Qtly div 20 cts vs 20 cts prior\n    Pay April 10\n    Record March 20\n Reuter\n&#3;',0
'BUFFTON CORP &lt;BUFF> BUYS B AND D INSTRUMENTS Buffton Corp said it completed\nthe purchase of B and D Industruments Inc for two mln dlrs cash\nand 400,000 shares of common stock.\n    It said B and D is a private company headquartered in\nKansas, and had sales of 4,700,000 dlrs in 1986.\n    Buffton said the company designs and manufactures aviation\ncomputer display systems and engine instrumentation.\n Reuter\n&#3;',0
'VEREINS- UND WESTBANK TO REORGANIZE NETWORK und Westbank AG &lt;VHBG.F> plans\nto streamline its branch network to improve its distribution of\nfinancial services, management board member Eberhard-Rainer\nLuckey said.\n    He told a news conference on 1986 results that branches in\nHamburg and Schleswig-Holstein would be merged or closed, a\nbranch in Frankfurt opened and that the bank was considering\nopening a branch in London.\n    Luckey said the bank\'s total operating profits rose nearly\n29 pct in 1986. Parent bank net profit rose to 47.7 mln from\n42.2 mln and the dividend remained unchanged at 12 marks.\n    The group balance sheet, including for the first time\nVereinWest Overseas Finance (Jersey), rose 9.2 pct to 17.9\nbillion marks, Luckey said.\n    The parent bank balance sheet rose 89 mln marks to 13.2\nbillion, while business volume was almost unchanged at 14.8\nbillion. Credit volume eased to 9.1 billion from 9.2 billion\nwhile loans to companies rose seven pct.\n    Foreign business and securities trading turnover also\nincreased. Higher earnings from trading on the bank\'s own\naccount contributed to record operating profits.\n    Net interest income rose on firmer interest margins by 16.1\nmln marks to 381.6 mln. Net commission income rose 6.6 mln to\n156.7 mln, Luckey said.\n    Foreign commercial business was influenced by a fall in\nWest German foreign trade but earnings were still satisfactory.\n    The bank\'s exposure in Latin America was less than two pct\nof its total foreign credit and in Africa less than one pct.\n    The bank continued to sell some of its exposure in 1986,\nand will also continue to stock up risk provisions, he said.\n REUTER\n&#3;',0
'BALDRIGE CONCERNED ABOUT KOREAN/TAIWAN DEFICITS Secretary of Commerce Malcolm\nBaldrige expressed concern about the continuing U.S. trade\ndeficits with South Korea and Taiwan and said that without an\nadjustment in exchange rates there is little likelihood of\nimprovement.\n    Speaking to the President\'s Export Council, an industry\nadvisory group, Baldrige said the trade deficit issue was under\ndiscussion with those countries.\n    \"I feel that unless we see an exchange rate adjustment we\nprobably won\'t be able to see much of a change in the large\nsurplus that Taiwan in particular has with us,\" he said.\n    In a wide-ranging discussion on U.S. trade matters,\nBaldrige also repeated U.S. concern about an attempted takeover\nby Japan\'s Fujitsu company of Fairchild Computer.\n    He said that the Japanese were resisting allowing U.S.\ncompanies into the giant computer business while at the same\ntime attempting to acquire control of a U.S. company that does\nmajor computer business in the U.S. market.\n    Lastly, Baldrige said that the United States was hopeful\nthat it could complete a free market agreement with Canada by\nthe autumn, but said major issues, including acid rain,\nremained unresolved.\n Reuter\n&#3;',0
'ALLWASTE &lt;ALWS> TO MAKE ACQUISITION Allwaste Inc said it has agreed in\nprinciple to acquire an air-moving and related industrial\nservices company it did not identify for up to 1,400,000 dlrs\nin common stock.\n Reuter\n&#3;',0
'CASTLE AND COOKE &lt;CKE> TAKES FOURTH QTR LOSS Castle and Cooke Inc said it would\ntake a fourth quarter after-tax loss of 33.9 mln dlrs from the\npreviously reported sale of its Flexi-Van container leasing\nbusiness to Itel Corp &lt;ITEL> for about 215 mln dlrs.\n    Earlier, the company reported a loss for the fourth quarter\nended January 3 of 31.9 mln dlrs, or 76 cts a share, compared\nwith a loss of 3.3 mln dlrs, or 21 cts per share, in 1985\'s\nfourth quarter.\n    For the year, however, the diversified holding company\nreported a net profit of 43.9 mln dlrs, or 56 cts a share,\nversus 46.4 mln dlrs, or 56 cts a share, in 1985.\n    David Murdock, chairman and chief executive officer, said,\n\"Both our food business and our real estate operations\nincreased their earnings during the year (1986).\"\n    But, he added that Flexi-Van\'s 1986 results were hit by\ndepressed daily rental rates for leased equipment caused by\noversupplies.\n    The company also reported that George Elkas, formerly\nexecutive vice president,  has been named president and chief\noperating officer of Flexi-Van Corp, while William Burns has\nbeen named executive vice president of Flexi-Van.\n Reuter\n&#3;',0
'FED EXPECTED TO ADD TEMPORARY RESERVES The Federal Reserve is expected to\nenter the U.S. Government securities market to add temporary\nreserves, economists said.\n    They expect it to supply the reserves indirectly by\narranging around 1.5 of customer repurchase agreements.\n    Federal funds, which averaged 6.22 pct yesterday, opened at\nsix pct and remained there in early trading.\n Reuter\n&#3;',0
'CONVENIENT FOOD MART &lt;CFMI> AGREES TO BUY CHAIN Convenient Food Mart Inc said it\nhas tentatively agreed to buy all the outstanding stock of\nPlaid Pantries Inc and two associated businesses in Oregon and\nWashington for undisclosed terms.\n    Plaid Pantries owns and operates 161 convenience stores in\nthe Portland and Seattle areas. The other business are two\ncompanies involved in the wholesale distribution of groceries\nand health and beauty aids, it said.\n    Closing is expected by May 15.\n\n Reuter\n&#3;',0
'WAL-MART STORES INC 4TH QTR SHR 65 CTS VS 47 CTS\n ',0
'MARINE MIDLAND &lt;MM> BUYS BROKERAGE ASSETS Marine Midland Banks Inc said it has\nacquired the customer account base of New York discount\nbrokerage firm Ovest Financial Services Inc for undisclosed\nterms to expand its discount brokerage operations in the\nNortheastern U.S.\n    It said it will combine Ovest\'s activities with those of\nits Marine Midland Brokerage Service unit.\n Reuter\n&#3;',0
'U.S. TREASURY DEPUTY ASST SECRETARY BERGER SAYS FURTHER DOLLAR DROP COULD CAUSE INFLATION\n ',0
'DOM REPUBLIC SELLS CZARNIKOW 35,000 TONS SUGAR The Dominican Republic sold\n35,000 long tons of sugar for immediate delivery, with an\noption for 25,000 tons more, to Czarnikow Rionda of New York,\nthe state sugar council announced.\n    It was not immediately clear when the sale was made or at\nwhat price. A council communique said \"the sale was made at the\nbest prevailing conditions in the world sugar market.\"\n Reuter\n&#3;',0
'EC BACKS NEW MOVE TO ENCOURAGE UNLEADED GASOLINE The EC Executive Commission has backed\na plan to allow member countries to ban regular leaded gasoline\nin a move designed to encourage use of unleaded fuel.\n    It said in a statement it backed a proposal to allow EC\nstates to ban sales of regular grade gasoline containing lead\nat six months notice. The proposal, which needs approval by EC\nministers, would not force any member state to impose the ban.\n\"It\'s an option, not an obligation,\" a spokesman said.\n    But the Commission said imposing the ban would encourage\nthe use of unleaded fuel, as well as making it easier for gas\nstations by cutting the number of types of gasoline they had to\nstock.\n Reuter\n&#3;',0
'SUN RAISES CRUDE OIL POSTINGS ONE DLR ACROSS BOARD. WTI NOW 17.00 DLRS/BBL\n ',0
'&lt;DEVTEK CORP> 2ND QTR JAN 31 NET Shr 14 cts vs nine cts\n    Net 1,180,000 vs 640,000\n    Revs 25.6 mln vs 20.1 mln\n    Six mths\n    Shr 26 cts vs 12 cts\n    Net 2,103,000 vs 853,000\n    Revs 44.8 mln vs 33.0 mln\n Reuter\n&#3;',0
'SAXTON INDUSTRIES LTD &lt;SAXIF> YEAR NET Shr 13 cts vs 41 cts\n    Net 1,079,100 vs 3,535,205\n    Revs 13.6 mln vs 16.2 mln\n    Note: Current results for 16 months after change in fiscal\nyear end to December 31 from August 31\n Reuter\n&#3;',0
'TORONTO SUN PLANS TWO-FOR-ONE STOCK SPLIT &lt;Toronto Sun Publishing Corp> said it\nplanned a two-for-one split of its common shares, subject to\nregulatory approval and approval by shareholders at the April\n21 annual meeting.\n Reuter\n&#3;',0
'SERVO CORP OF AMERICA &lt;SCA> 1ST QTR JAN 31 NET Shr 43 cts vs 41 cts\n    Net 316,000 vs 298,000\n    Sales 4,857,000 vs 4,543,000\n Reuter\n&#3;',0
'ELECTRO-NUCLEONICS INC &lt;ENUC> 2ND QTR DEC 31 Shr loss 1.77 dlrs vs profit 15 cts\n    Net loss 8,036,000 vs profit 576,000\n    Sales 16.2 mln vs 17.2 mln\n    Avg shrs 4,539,437 vs 3,816,580\n    1st half\n    Shr loss 1.96 dlrs vs profit 26 cts\n    Net loss 8,231,000 vs profit 996,000\n    Sales 30.9 mln vs 32.2 mln\n    Avg shrs 4,205,707 vs 3,814,141\n    NOTE: Current half net includes 68,000 dlr tax credit.\n    Current year net both periods includes 6,700,000 dlr\nwritedown of inventory of clinical chemistry products.\n Reuter\n&#3;',0
'WAL-MART STORES INC &lt;WMT> 4TH QTR JAN 31 NET Shr 65 cts vs 47 cts\n    Net 184.3 mln vs 133.1 mln\n    Sales 3.85 billion vs 2.77 billion\n    Year\n    Shr 1.59 dlrs vs 1.16 dlrs\n    Net 450.1 mln vs 327.5 mln\n    Sales 11.91 billion vs 8.45 billion\n Reuter\n&#3;',0
'&lt;MIRTONE INTERNATIONAL INC> 1ST QTR DEC 31 NET Shr two cts vs two cts\n    Net 407,396 vs 376,243\n    Revs 5,341,353 vs 4,292,819\n Reuter\n&#3;',0
'U.S. TREASURY AIDE WARNS ON INFLATION Thomas Berger, Deputy Assistant\nSecretary of the Treasury, said that a further drop in the\nexchange value of the dollar could cause prices to go up and\ntrigger inflation.\n    He told a meeting of the President\'s Export Council that\nthe Japanese and the Germans have cut their profit margins to\nreflect recent drops in the dollar, so prices have remained\nmuch the same.\n    But he added that if the dollar dropped further there could\nbe inflation in the United States.\n    Berger also said that a further devalued dollar may cause\neconomic depressions in some U.S. trading partners, and that\nwould not be in America\'s interest because it would close those\nmarkets to U.S. goods.\n Reuter\n&#3;',0
'LEAF DISEASE HITS SRI LANKA RUBBER A leaf disease affecting seven pct of\nSri Lanka\'s rubber plantations may reduce output this year and\nraise currently depressed prices, industry officials and\nresearchers told Reuters.\n    About 2,900 hectares of rubber planted with the Rubber\nResearch Institute (RRI) clone 103 have been hit by the fungus\n\"corenes pora\" which attacks the roots of the tree and kills the\nleaves. The disease was first discovered about six months ago.\n    Trade sources say prices might boom once again if the\ncrisis leads to output below the 1987 target of 143,000 tonnes.\nLast year\'s output is estimated at between 133,000 and 135,000\ntonnes.\n    Researchers say the fungus could spread to other rubber\nclones if no immediate action is taken.\n    \"The RRI is considering asking estates to remove the trees\nseriously affected by the fungus because it was too late to use\nchemicals to kill the disease,\" an Institute spokesman said.\n    Senior industry and research officials met yesterday at\nPadukka, east of here, to discuss ways of controlling the\nfungus which is affecting estates mostly belonging to the State\nPlantations Corp and Janatha Estates Development Board.\n    The two state-owned groups account for 30 pct of rubber\nland with the balance belonging to small private producers with\na total of 145,600 hectares.\n    The RRIC 103 is a new clone propagated by the Research\nInstitute as high yielding and recommended two years ago for\nplanting. Only the two state groups seriously planted these\nclones while smallholders preferred the low-yielding but older\nPBX Malaysian clones.\n    Officials at yesterday\'s crisis meeting said it was decided\nto uproot only some of the affected trees while others would be\ntreated. They declined to comment on other decisions taken.\n    Trade sources said supplies had improved in the past week\nbut prices had hit their lowest since last December. \"If there\nis a shortage of rubber, prices are bound to rise,\" a spokesman\nfor a company buying on behalf of the Soviet Union said.\n    Rubber prices, particularly crepe, fell sharply by about\nfour rupees a kilo between December and March. The best crepe\none-X traded at 23.68 rupees a kilo, averaged 19.75 at this\nweek\'s auction. Sheet prices fell by a rupee in the same\nperiod.\n    Quantities offered at the auction also fell to an average\nof 300 tonnes per auction last month from 800 tonnes in\nDecember because of wintering in early February in producing\nareas.\n    Over 550 tonnes were offered at this Tuesday\'s auction with\nthe supply position showing improvements.\n    Trade sources said the smaller availability of rubber last\nmonth did not raise prices as on previous occasions.\n    \"Some factors, like less storage space from excess stocks,\nmeant we could not buy much at the auction until we disposed of\nthe rubber we already had,\" one buyer said.\n    Other sources said there were few forward contracts and\nspeculative buying last month, while delays in steamer arrivals\naggravated the problem.\n    European buyers delayed their purchases because of winter\nclosures of factories and also in the hope that prices would\nease further.\n    They said another problem that could hit the industry is\nthe dry spell in producing areas. \"If the inter-monsoonal rains\nexpected in late March/April are delayed, we would have further\nshortages,\" one official said.\n    \"But this again could benefit prices,\" a buyer said.\n Reuter\n&#3;',0
'PYRO ENERGY CORP &lt;BTU> YEAR NET Shr 36 cts vs 66 cts\n    Net 4,775,000 vs 9,342,000\n    Revs 105.5 mln vs 130.0 mln\n Reuter\n&#3;',0
'EC COMMISSION DETAILS SUGAR TENDER The European Commission confirmed it\nauthorised the export of 60,500 tonnes of current series white\nsugar at a maximum rebate of 43.147 European Currency Units\n(ECUs) per 100 kilos.\n    Out of this, traders in the U.K. Received 43,500 tonnes, in\nthe Netherlands 12,000, in Denmark 4,000 and in West Germany\n1,000 tonnes.\n REUTER\n&#3;',0
'UNITRODE CORP &lt;UTR> 4TH QTR JAN 31 LOSS Shr loss 13 cts vs profit 10 cts\n    Net loss 1,804,062 vs profit 1,370,063\n    Revs 33.5 mln vs 40.4 mln\n    12 mths\n    Shr loss 51 cts vs profit cts\n    Net loss 7,030,235 vs profit 9,163,141\n    Revs 149.4 mln vs 167.9 mln\n    NOTE: income before taxes for the 12 mths ended Jan 1987\nincludes gains 895,000 for fire insurance settlement, and\nunusual charges of 7,900,000 for provisions for estimated cost\nof severance pay for terminated workers and a one-time\nwritedown of inventory and equipment.\n Reuter\n&#3;',0
'BUEHLER INTERNATIONAL INC &lt;BULR> 4TH QTR NET Shr five cts vs 20 cts\n    Qtly div two cts vs two cts prior\n    Net 223,000 vs 1,418,000\n    Sales 15.3 mln vs 17.1 mln\n    Year\n    Shr 61 cts vs 81 cts\n    Net 3,106,000 vs 5,940,000\n    Sales 63.0 mln vs 59.5 mln\n    NOTE: 1986 net includes tax credits of 63,000 dlrs in\nquarter and 1,365,000 dlrs in year.\n    1986 net both periods includes 500,000 dlr pretax inventory\nwritedown.\n    Dividend pay March 27, record March 5.\n Reuter\n&#3;',0
'STANHOME INC &lt;STH> RAISES QUARTERLY TWO CTS Qtly div 23 cts vs 21 cts prior\n    Pay April 1\n    Record March 16\n Reuter\n&#3;',0
'INSTRON CORP &lt;ISN> SETS QUARTERLY Qtly div three cts vs three cts prior\n    Pay April 2\n    Record March 16\n Reuter\n&#3;',0
'GERMAN INSTITUTE SEES INFLATION RISING IN 1987 The cost of living in West Germany will\nlikely be about 0.5 pct higher on average in 1987 than in 1986,\nwhen the cost of living actually fell by an average 0.2 pct in\nthe first recurrence of \"negative inflation\" since the 1950s, the\nHWWA economic research institute said.\n    The re-emergence of inflation will result mainly from the\nfading of two factors which influenced the fall in the 1986\ncost of living - the steep decline in both oil prices and the\nvalue of the dollar, the institute said in a report.\n    The institute said inflation will see a rising trend in the\ncourse of 1987, but will average only 0.5 pct for the year as a\nwhole because year on year rates will remain negative in the\nfirst part of 1987.\n    Provisional inflation figures for February released last\nweek showed the cost of living last month was 0.5 pct lower\nthan in February 1986. In January prices had fallen 0.8 pct\nagainst the same month a year earlier.\n    The HWWA said its forecast assumed the dollar would remain\naround 1.80 marks and oil prices would range between 15 and 17\ndlrs per barrel.\n REUTER\n&#3;',0
'FED DRAFTS CURRENCY, RATE SWAP RISK GAUGE The Federal Reserve Board voted\nunanimously to propose a formula for calculating the risk of\ninterest rate and currency swaps as part of its ongoing effort\nto come up with a new capital standard for U.S. banks that\ntakes into account the riskiness of a bank\'s loans and other\nassets.\n    Fed officials said an identical proposal was being issues\ntoday by the Bank of England.\n    The Fed set a 60-day period for public comment on the plan.\n    The proposal adopted today addresses only the credit risks\nassociated with interest rate swaps, forward foreign exchange\ncontracts and similar financial instruments.\n    Previously, the Fed Jan. 8 proposed a series of guidelines\nfor calculating the risk of other off-balance-sheet activities\nthat banks would be required to take into account in\ncalculating the minimum financial cushion they would need to\nmaintain.\n    Both guidelines set five broad categories of risk for loans\nand other bank assets and assigned to each a level of risk that\nwould establish a bank\'s minimum capital needs.\n    The additional guidelines proposed today would determine\nthe amount of capital support required for a bank\'s current\nexposure for a given asset and the potential future exposure.\n    The current exposure would be measured by the\nmark-to-market value of the asset, which would reflect the\nreplacement cost.\n    Potential future increases in the replacement cost would be\ncalculated using credit conversion factors based on statistical\nanalyses by the staffs of the Bank of England and U.S. banking\nregulators. Future exposure would rise over the life of the\nasset.\n    The Fed staff said the risk gauge attempted to balance\nconflicting needs for precision and simplicity.\n    They ignore, for example, the relative volatility of the\nparticular currencies involved in exchange rate contracts.\n    Board officials said the new gauge could increase the\ncapital required of the largest money center banks, which are\nthe principal participants in these types of activities.\n    They cautioned the Fed board to take account of the\npotential impact of the plan on the ability of U.S. banks to\ncompete in world financial markets.\n    However, the staff concluded, \"The credit risks inherent in\nsuch contracts now constitute a significant element of the risk\nprofiles of some banking organizations.\"\n    The Fed proposal would exempt all but the 20-25 largest\nparticipants in this market, on grounds the benefits of\nincluding the smaller banks would be outweighed by costs.\n    Also excluded would be interest rate and foreign exchange\ncontracts traded on organized exchanges.\n    Governor Martha Seger said she was concerned that Japan was\nnot involved in the U.K.-U.S. effort to draft new capital\nrules.\n Reuter\n&#3;',0
'IDEAL SCHOOL SUPPLY CORP &lt;IDEL> 4TH QTR NET Oper shr 10 cts vs eight cts\n    Oper net 325,000 vs 228,000\n    Sales 7,070,000 vs 6,483,000\n    Avg shrs 3,313,000 vs three mln\n    Year\n    Oper shr 69 cts vs 51 cts\n    Oper net 2,124,000 vs 1,536,000\n    Sales 31.2 mln vs 22.7 mln\n    Avg shrs 3,071,000 vs three mln\n    NOTE: 1986 net both periods includes 72,000 dlr tax credit.\n Reuter\n&#3;',0
'SALOMON INC &lt;SB> SETS REGULAR QUARTERLY Qtly div 16 cts vs 16 cts prior\n    Pay April One\n    Rcord March 20\n Reuter\n&#3;',0
'JANUARY CRUDE OIL MOVEMENTS FALL SEVEN MLN TONS Worldwide spot crude oil movements fell\nto 30.07 mln long dwt in February from 37.25 mln tons in\nJanuary and 41.44 mln in December, London shipbroker Howard\nHoulder said.\n    The decline mainly reflected a sharp drop in movements out\nof the Mideast Gulf, which totalled 7.4 mln tons last month\nagainst 11.65 mln in January. These included shipments to\nwestern options at 2.05 mln tons against 3.59 mln previously.\n    Liftings from the Gulf to eastern options fell to 4.15 mln\ntons from 5.94 mln and those from the Gulf to other areas\ndropped to 1.2 mln tons from 2.13 mln, Howard Houlder said.\n    U.K./Continent coastal movements declined sharply to 2.91\nmln tons from 4.77 mln but those from the U.K./Continent to the\nU.S. rose to 1.99 mln from 1.69 mln.\n Reuter\n&#3;',0
'EC SOURCES DETAIL NEW FARM SOCIAL PACKAGE The 350 mln Ecu three-year package of\nsocial and structural measures agreed early today by European\nCommunity farm ministers features a plan to compensate farmers\nfor reducing output of certain surplus products, EC Commission\nsources said.\n    The ministers agreed that under this \"extensification\"\nscheme, farmers would qualify for compensation if they cut\noutput of specific products by at least 20 pct.\n    The plan would initially apply to cereals, beef, veal and\nwine, they added.\n    Cereals farmers would have to achieve their output cuts by\nreducing acreage, while cattle farmers would reduce their\nnumber of head and vinegrowers would cut yield. In each case,\nfarmers would have to undertake not to step up their capacity\nfor output of other products which are in surplus in the EC.\n    The sources said payment levels have not yet been fixed but\nwill be designed to compensate farmers for loss of profit on\nthe production they forego.\n    The sources said the package also contains provisions for\npayments to farmers who embark on a program aimed at protecting\nor improving the environment.\n    It would also mean compensatory allowances in less favoured\nfarming areas would be extended to crops. At present such\nallowances are available only for livestock.\n    The package would provide 20 mln Ecus for research into\nalternative farming techniques, the sources added.\n    At a news conference EC Farm Commissioner Frans Andriessen\nsaid the Commission is also working on proposals to enable the\nEC and member states to provide direct income supports for\nrelatively poor farmers.\n    Andriessen did not give full details, but said member state\naid would be subject to \"strict criteria to avoid distortion of\ncompetition.\"\n    EC payments would aim to help farmers to survive a\ndifficult period while the EC tackles the problems of surplus\nproduction.\n    The Commission withdrew from the package agreed last night\nproposals to pay \"early retirement\" pensions to farmers aged 55\nor over who gave up production. Those who took their land\ncompletely out of farm production, rather than passing it on to\ntheir heirs, would have received more generous payments.\n    Andriessen said the Commission plans to present revised\nproposals along these lines in an effort to get a scheme\nagreed.\n Reuter\n&#3;',1
'U.S., BRITAIN AGREE FURTHER BANK CAPITAL PROPOSALS The Bank of England and the U.S. Federal\nReserve Board have agreed new proposals for joint standards to\nmeasure the risk of an array of credit exposures that do not\nshow up in bank balance sheets, the Bank of England said.\n    The plan, covering swaps, forward contracts and options\ninvolving interest or exchange rates, complements proposals\nagreed in January between the two central banks to make\ncommercial banks in the U.S. And Britain subject to similar\nstandards for measuring capital adequacy, the proposal said.\n    It said no final decisions had been reached yet and banks\nhave until April 16 to comment on the trunk proposals.\n    The Bank of England and Fed said they had faced a dilemma.\n    \"On the one hand (we) are determined to require adequate\ncapital support for potential future exposure -- on the other\nhand (we) are concerned that overly stringent capital\nrequirements might unnecessarily affect the ability of U.S. And\nU.K. Banking organisations to price...Contracts competitively.\"\n     At the basis of the new proposals lies the concept of the\nso-called credit equivalent amount - the current value of a\ncurrency or interest rate contract and an estimate of its\npotential change in value due to currency or interest rate\nfluctuations until the contract matures.\n    In treatment similar to that agreed in January for balance\nsheet assets, the credit equivalent will be assigned one of\nfive risk weights between zero and 100 pct, depending on the\nquality of the counterparty, the remaining maturity of the\ncontract and on collaterals or guarantees to the contract, the\nplans showed.\n    The proposal showed that collaterals and guarantees would\nnot be recognised in calculating credit equivalent amounts.\n    They would, however, be reflected in the assignment of risk\nweights. The only guarantees recognised are those given by U.S.\nAnd U.K. Governments or, in the U.S., By domestic national\ngovernment agencies, the proposals showed.\n    The paper said the proposed rules would not cover spot\nforeign exchange contracts and securities traded in futures and\noptions exchanges.\n    It said U.S. Regulatory authorities and the Bank of England\nwere keen to encourage banks to \"net\" contracts -- consolidate\nmultiple contracts with the same counterparty into one single\nagreement to create one single payments stream.\n    It recognised that \"such arrangements may in certain\ncircumstances reduce credit risk and wish to encourage their\nfurther development and implementation,\" and said some of the\ncurrent proposals may be changed to take this into account.\n    The paper said the proposed rules would not cover spot\nforeign exchange contracts and securities traded in futures and\noptions exchanges.\n    It said U.S. Regulatory authorities and the Bank of England\nwere keen to encourage banks to \"net\" contracts -- consolidate\nmultiple contracts with the same counterparty into one single\nagreement to create one single payments stream.\n    It recognised that \"such arrangements may in certain\ncircumstances reduce credit risk and wish to encourage their\nfurther development and implementation,\" and said some of the\ncurrent proposals may be changed to take this into account.\n Reuter\n&#3;',0
'PIEDMONT AVIATION &lt;PIE> BOARD TO MEET TODAY Piedmont Avaition Inc\'s board of\ndirectors will conduct a special meeting beginning at 1400 est\ntoday, a Piedmont spokesman said.\n    The spokesman would not say what was on the agenda.\n    In mid-February, Piedmont said its board would meet to\ndiscuss all proposals to acquire the company. Its board also\nwithdrew a recommendation to accept a 65 dlrs a share cash\noffer from Norfolk Southern Corp &lt;NSC> in light of a competing\nrevised bid from U.S. Air Group Inc &lt;U>. U.S. Air offer to buy\n50 pct of the company\'s stock for 71 dlrs a share cash, and the\nremaining for 73 dlrs a share of its stock.\n\n Reuter\n&#3;',0
'FIRST UNION &lt;FUR> LEAVES DIVIDEND UNCHANGED First Union Real Estate Investments\nsaid its board left the quarterly dividend unchanged at 37-1/2\ncts per share, payable April 30, record March 31.\n    The trust, which has raised its quarterly dividend\nfrequently in the past two years and in the first quarter in\nboth years, said the Tax Reform Act of 1986 has limited its\nflexibility on dividends, and trustees will now consider the\nappropriateness of any dividend increases only during the later\nquarters of the year.\n\n Reuter\n&#3;',0
'RYKOFF-SEXTON INC &lt;RYK> 3RD QTR JAN 31 NET Shr 21 cts vs 28 cts\n    Net 1,456,000 vs 1,925,000\n    Sales 258.7 mln vs 290.2 mln\n    Nine Mths\n    Shr 77 cts vs 1.10 dlrs\n    Net 5,384,000 vs 7,658,000\n    Sales 804.3 mln vs 760.1 mln\n Reuter\n&#3;',0
'SYSTEM SOFTWARE ASSOCIATES &lt;SSAX> 1ST QTR NET Periods end January 31, 1987 and 1986\n    Shr 12 cts vs nine cts\n    Net 507,000 vs 362,000\n    Revs 5,010,000 vs 3,558,000\n    NOTE: System Software Associates Inc is full name of\ncompany.\n Reuter\n&#3;',0
'GEICO CORP &lt;GEC> RAISES QTRLY DIVIDEND Qtrly div 34 cts vs 27 cts prior\n    Pay March 31\n    Record March 16\n\n Reuter\n&#3;',0
'STANLEY WORKS &lt;SWK> SETS QUARTERLY Qtly div 19 cts vs 19 cts prior\n    Pay March 31\n    Record March 12\n Reuter\n&#3;',0
'NOVELL INC &lt;NOVL> 1ST QTR JAN 31 NET Shr 31 cts vs 20 cts\n    Net 3,541,000 vs 2,071,000\n    Sales 29.9 mln vs 14.5 mln\n    Avg shrs 11.6 mln vs 10.4 mln\n    NOTE Fourteen vs 13-week periods.\n Reuter\n&#3;',0
'FROST NOT EXPECTED TO DAMAGE POLAND\'S WHEAT Poland\'s winter wheat is likely to\nsurvive recent frosts but the impact of the cold will not be\nknown until late April, the Polish meteorology institute said.\n    Some varieties of winter wheat sown in Poland can survive\nground temperatures as low as minus 20 degrees C, Spokesman\nTeresa Tomaszewska told Reuters.\n    Even though an earlier thin protective layer of snow mainly\nmelted in February, air temperatures down to minus 30 C should\nnot be harmful, she said, but added that wheat can still be\ndamaged by cold spells in March and April, when young shoots\nmay be exposed to night frosts.\n Reuter\n&#3;',1
'BROWN-FORMAN &lt;BFDB> TO CHANGE RECORD DATES Brown-Forman Inc said at the\nsuggestion of the American Stock Exchange it has changed the\nrecord date for the 28 ct per share quarterly dividend on its\nClass A and Class B common stock that is payable April One to\nMarch 20 from March 13, to coincide with the record date for a\nthree-for-two stock split declared February 26.\n    It said the record date for the dividend on its four pct\ncumulative preferred stock has also been changed to March 20\nfrom March 13.\n Reuter\n&#3;',0
'GOODYEAR TIRE &lt;GT> DETAILS 1986 TAX REFUND Goodyear Tire and Rubber Co said its\n1986 results include a tax refund of 75.7 mln dlrs from the\ncosts of restructuring the company in a successful defense\nagainst a takeover attempt by James Goldsmith.\n    Chairman Robert Mercer said, \"Heavy restructuring costs\nrelated to the takeover attempt combined with government tax\nincentives for investments ... resulted in this federal tax\nrefund.\"\n    The refund was included but not broken out in its initial\n1986 results, a spokesman said. It reported 1986 net income of\n124.1 mln dlrs against 412.4 mln dlrs a year earlier.\n Reuter\n&#3;',0
'GREAT NORTHERN NEKOOSA &lt;GNN> ANNOUNCES SPLIT The Great Northern Nekoosa Corp\nsaid it will recommend to shareholders a two-for-one common\nstock split.\n    The company said it will make the proposal to shareowners\nat its annual mmeting May 6 in Dothan, Ala., near the company\'s\nGreat Southern Paper division operations.\n    In conjunction with the stock split proposal, the\nshareowners will be asked to approve an increase in the\nauthorized common stock from 60 mln to 150 mln shares, the\ncompany said.\n    The company said it will propose an increase in its\ndividend rate if the split is approved effective with the June\npayment.\n    The company said the present rate on GNN common is 43 cts\nper share. The company said it would recommend a quarterly rate\nof 23 cts a share on the split stock. This would be equal to a\ndividend of 46 cts a share on the present common, seven pct\nhigher than the current rate.\n    The company said it had increased the dividend by 13 pct\nlast December. Great Northern Nekoosa\'s last common stock\nsplit, a three-for-two, was in December 1983, it said.\n    As of Dec 31, 1986, there were 26,661,770 shares of GNN\ncommon stock outstanding, according to the company.\n Reuter\n&#3;',0
'HARRIS LIFTS BUILDERS TRANSPORT &lt;TRUK> STAKE Harris Associates L.P., a Chicago\ninvestment advisor, said it raised its stake in Builders\nTransport Inc to the equivalent of 466,754 shares, or 9.1 pct\nof the total outstanding, from 335,800 shares, or 6.7 pct.\n    In a filing with the Securities and Exchange Commission,\nHarris said it bought 36,700 Builders Transport common shares\non Feb 10 at 17 dlrs a share. It also said it bought debentures\non Feb 23 that could be converted into 94,254 shares.\n    Harris said its dealings in Builders Transport were on\nbehalf of its advisory clients. It has also said it has no\nintention of seeking control of the company.\n Reuter\n&#3;',0
'COFFEE TALKS FAILURE SEEN PRESSURING U.S. Failure of talks on re-establishing\nInternational Coffee Organization, ICO, coffee quotas last week\nmay put political pressure on the United States, particularly\nthe State Department, to reassess its position, but the U.S. is\nunlikely to back away from its basic demand quotas be set by\n\"objective criteria\", U.S. officials said.\n    Jon Rosenbaum, assistant U.S. trade representative and head\nof Washington\'s delegation to the talks, told Reuters on his\nreturn from London that the United States is willing to resume\nthe coffee negotiations as early as April if necessary.\n    Rosenbaum said the United States will be \"flexible\" in\ndiscussing the method of establishing objective criteria and\nany transition to new quotas, but not on the basic aim of\nestablishing an objective method of setting quotas.\n    At the ICO talks major consuming nations, led by the U.S.,\nproposed that future coffee export quota shares be calculated\nby a formula incorporating a producer\'s recent exportable\nproduction and verified stocks, while large producers led by\nBrazil proposed maintaining the traditional ad hoc division of\nshares. The consumer position would have in effect reduced the\nmarket share of Brazil, by far the world\'s largest producer.\n    Rosenbaum said the administration would continue to support\nlegislation now before Congress which would allow the U.S.\ncustoms service to monitor coffee imports, as a way to comply\nwith any future coffee quotas.\n    He said the Reagan administration would be reviewing the\ncoffee policy situation following the collapse of the London\ntalks, but \"nobody is proposing we change our position.\"\n    However, other U.S. government officials involved in coffee\npolicy said they are bracing for a diplomatic and coffee market\noffensive from producer countries, led by Brazil and Colombia,\nto soften the consumer position.\n    \"Knowing that its next crop is fairly large, Brazil will\nkind of want to test the resolve of other producers and\nconsumers,\" said one U.S. official.\n    The U.S. official, who asked not to be identified, said\nBrazil and Colombia may flood the coffee market in the next few\nmonths in an effort to drive down prices and pressure other\ncountries, particularly the splinter group of small producers\nwho differed with the major producers in London.\n    This in turn could lead to urgent appeals from Latin\nAmerican countries, faced with mounting debt problems, to the\nU.S. State department, and to the National Security Council in\nthe White House, for an easing of the U.S. position, U.S.\nofficials said.\n    The State department, a major player in setting U.S. coffee\npolicy, may then face conflicting pressures, particularly from\npolitically-sensitive U.S. allies in Central America, U.S.\nofficials said.\n    El Salvador and Guatemala both backed Brazil and Colombia\nat the London talks in resisting pressures for quotas based on\nobjective criteria. But the Dominican Republic and Costa Rica\njoined the splinter group, which said it would agree to\nobjective criteria.\n    There is a strong feeling among some in the State\nDepartment that the United States should continue to support\nthe splinter group of producers who have taken the\npolitically-risky step of opposing Brazil on the objective\ncriteria question, U.S. officials said.\n    Within the consuming countries there also is expected to be\nsome pressure to reassess positions.\n    In London, the U.S. was supported by the U.K., the\nNetherlands, West Germany, Japan, Australia and New Zealand on\nthe issue of objective criteria, U.S. officials said.\n    This bloc represented enough votes among consuming nations\nto successfully prevent adoption of the producer proposals.\n    However, U.S. sources said West Germany\'s support was at\ntimes qualified and there is some concern that the European\nCommunity could come under pressure to be more accommodative to\nproducers in future talks. France backed the Ivory Coast and\nother African producers during the talks.\n    A softening of the EC stance would make it more difficult,\nalthough not impossible, for the U.S. to block producer plans.\n    While political manuevering by small producers and\nconsuming countries will be important, U.S. officials said the\nkey to any future outcome will be Brazil\'s position.\n    U.S. officials blamed Brazil\'s intransigence for the\nfailure of the talks and said a more flexible position from\nBrasilia would be the most important step toward agreement.\n Reuter\n&#3;',0
'INVESTORS HAVE 12.9 PCT OF EXOVIR &lt;XOVR> Mark Hammer, a private investor from\nMelville, N.Y., and members of his family told the Securities\nand Exchange Commission they have acquired a total of 375,200\nshares of Exovir Inc, or 12.9 pct of the total outstanding.\n    Hammer said his group has been accumulating Exovir stock\nsince Oct 28, 1985 for investment purposes and may buy more\nshares or sell all or part of his current stake.\n    While he said he has no intention of seeking control of the\ncompany, Hammer said that because of his \"extensive business\nexperience\" and his interest in Exovir stock, he may be\n\"invited\" to become a member of the company\'s board.\n Reuter\n&#3;',0
'TORRENTIAL RAINS HALT ARGENTINE GRAIN HARVEST Torrential rains throughout\nArgentina\'s grain-producing areas virtually paralysed coarse\ngrain harvesting in the week to yesterday, trade sources said.\n    Sunflower, maize and sorghum harvests were particularly\naffected, they said. But the rains proved to be a great aid to\nsoybean crops as their harvesting will not begin until April or\nMay.\n    The rains did no damage to maize, sunflower and sorghum\ncrops though fresh rains in similar volume could reduce yields\nand cut the total volume of this year\'s harvest.\n    Rainfall measured between 15 and 270 mm in Buenos Aires,\nwith the heaviest rains in the province\'s western sectors,\nbetween 15 and 100 mm in Cordoba, 15 and 120 mm in La Pampa, 10\nand 75 mm in Santa Fe, 10 and 60 mm in Entre Rios, five and 40\nmm in Misiones, and five and 50 mm in San Luis.\n    No rain was recorded in Corrientes, Chaco and Formosa.\n    Growers did not revise their estimates for total volume of\nthe coarse grain harvest over last week\'s estimates.\n    Maize harvesting continued moving forward in central Santa\nFe, though slowly. Growers had harvested seven to nine pct of\ntotal planted area, compared to five to seven pct last week.\n    Total maize area planted for the 1986/87 harvest was\nestimated at between 3.58 and 3.78 mln hectares, or two to\nseven pct less than the 3.85 mln hectares planted in the\n1985/86 harvest.\n    Maize production is expected to total between 10.4 and 11\nmln tonnes, or a drop of 17.5 to 19.4 pct over the 12.4 to 12.6\nmln tonnes harvested last year according to private estimates,\nor 18.9 to 21.9 pct lower than last year\'s volume, according to\nofficial figures.\n    The sunflower harvest advanced to between seven and nine\npct of total planted area.\n    Two to 2.2 mln hectares have been planted with sunflowers\nfor this harvest, down 29.9 to 36.3 pct from last year\'s figure\nof 3.14 mln hectares.\n    Sunflower production is expected to total between 2.4 mln\nand 2.7 mln tonnes, which would mean a drop of between 34.1 and\n41.5 pct against the record 4.1 mln tonnes harvested in the\n1985/86 harvest.\n    Grain sorghum harvesting inched forward to between two and\nfour pct of total planted area, which this harvest is 1.23 to\n1.30 mln hectares or 10.3 to 15.2 pct less than the 1.45 mln\nhectares planted in the 1985/86 harvest.\n    Sorghum production is expected to total between 3.2 mln and\n3.5 mln tonnes, or 16.7 to 22 pct less than the 4.1 to 4.2\nmillion tonnes harvested in 1985/86.\n    Soybean production, by contrast, is expected to hit a\nrecord 8.0 to 8.4 mln tonnes, which would mean an increase of\n11.1 to 15.1 pct over last year\'s record figure of 7.2 to 7.3\nmln tonnes, according to private estimates. Official figures\nput last year\'s soybean harvest at 7.1 mln tonnes.\n    Soybean crops were reported to be in generally very good\ncondition, helped by abundant rains and high temperatures.\n    Total soybean-planted area for the 1986/87 harvest is\nexpected to be a record 3.7 to 3.8 mln hectares, up 10.8 to\n13.8 pct from last year\'s harvest figure of 3.34 mln hectares.\n Reuter\n&#3;',1
'LOTUS &lt;LOTS> TO ACQUIRE &lt;COMPUTER ACCESS CORP> Lotus Development Corp said it\nhas signed a letter of intent to acquire substantially all of\nthe assets of Computer Access Corp for undisclosed terms.\n    Computer Asscess makes BlueFish full-text search and\nretrieval software for International Business Machines Corp\n&lt;IBM> and compatible personal computers.\n    The company said the acquisition is subject to approval by\nboth boards.\n Reuter\n&#3;',0
'EQUITABLE OF IOWA COS &lt;EQICA> 4TH QTR NET Oper shr 78 cts vs 51 cts\n    Oper net 7,030,000 vs 4,944,000\n    Revs 126.6 mln vs 120.9 mln\n    Year\n    Oper shr 1.59 dlrs vs 89 cts\n    Oper net 14.7 mln vs 9,864,000\n    Revs 425.1 mln vs 416.9 mln\n    NOTE: Net excludes realized gains on investment of 73,000\ndlrs vs 4,224,000 dlrs in quarter and 6,253,000 vs 14.5 mln\ndlrs in year.\n    Net excludes discontinued Massachusetts Casualty operations\nloss 5,180,000 dlrs vs gain 778,000 dlrs in quarter and gain\n9,214,000 dlrs vs gain 3,504,000 dlrs in year.\n Reuter\n&#3;',0
'CORROON AND BLACK CORP &lt;CBL> RAISES QUARTERLY Qtly div 21 cts vs 16-1/4 cts prior\n    Pay April One\n    Record March 17\n Reuter\n&#3;',0
'EC APPOINTS NEW TRADE CHIEF The European Community Commission today\nappointed its chief spokesman, Hugo Paemen, as its top official\nin charge of multilateral trade negotiations, a Commission\nspokesman said.\n    Paemen, a Belgian official who had previously been chief\naide to former External Affairs Commissioner Etienne Davignon,\nhas been in his post since January 1985.\n    The spokesman said Paemen will continue as chief spokesman\nuntil the retirement on May 1 of Paul Luyten, who is now in\ncharge of EC departments handling negotiations in the world\ntrade body GATT, the OECD and other forums.\n Reuter\n&#3;',0
'U.S. SENATOR TO PROPOSE 0/92 FOR 1987 CROPS Sen. Rudy Boschwitz, R-Minn., said he\nintended to offer legislation that would allow 1987 producers\nof wheat, feedgrains, cotton and rice to receive at least 92\npct of their deficiency payments, regardless of how much they\nplanted.\n    Boschwitz told the Senate Agriculture Committee that\napplying the so-called 0/92 provision to 1987 crops was\nsupported by the Reagan administration and would save\napproximately 500 mln dlrs, including 266 mln dlrs in corn\npayments, 90 mln dlrs in wheat and 30 mln dlrs in cotton.\n    The Minnesota senator said he might offer the bill on the\nSenate floor or in a conference committee with the House of\nRepresentatives in the event a similar bill before the House\nAgriculture Committee is approved by that body.\n    Boschwitz told Reuters that neither he nor the U.S.\nAgriculture Department had decided whether or how deficiency\npayments should be guaranteed to farmers who might choose not\nto plant under the decoupling scheme.\n    If payments are not set in advance under decoupling, market\nprices conceivably could rise, thereby leading to diminished\ndeficiency payments.\n    Senate Agriculture Committee Chairman Patrick Leahy, D-Vt.,\nsaid he wanted to go to conference with the House as soon as\npossible on the issue, but would have to study the matter\nfurther before deciding how he would vote on it.\n Reuter\n&#3;',1
'INDIA BUYS UP TO 10 CARGOES SUGAR - TRADERS India bought up to 10 cargoes of white\nsugar at a buying tender today which originally called for just\ntwo to three cargoes of March/April shipment, traders said.\n    London trader E D and F Man said it sold two cargoes at 233\ndlrs a tonne CIF for March/April shipment with an option to\nsell an additional two cargoes at the same price.\n    Traders said at least one other international trader made a\nsimilar contract while a French house sold two cargoes at an\noutright price of 233 dlrs CIF without the option. This brought\ntotal Indian purchases to at least six cargoes with traders\nhaving options to sell another four.\n Reuter\n&#3;',0
'HAYES-ALBION &lt;HAY> DELAYS SPECIAL MEETING Hayes-Albion Corp said it has\ndelayed the special meeting at which shareholders will vote on\nits merger into Harvard Industries Inc &lt;HAVA> until March 24\nfrom March 17 due to a delay in Securities and Exchange\nCommission clearance of proxy materials.\n Reuter\n&#3;',0
'GROSSMAN\'S INC &lt;GROS> 4TH QTR LOSS Oper shr loss nine cts vs profit 12 cts\n    Oper net loss 1,791,000 vs profit 2,336,000\n    Sales 242.9 mln vs 225.8 mln\n    Year\n    Oper shr profit 15 cts vs loss 17 cts\n    Oper net profit 2,925,000 vs loss 3,324,000\n    Sales 1.01 billion vs 875.6 mln\n    NOTE: Net includes discontinued operations gain 2,437,000\ndlrs vs loss 190.0 mln dlrs in quarter and losses 75.6 mln dlrs\nvs 227.7 mln dlrs in year.\n    Net includes loss 294,000 dlrs vs nil in quarter and gain\n224.8 mln dlrs vs loss 1,750,000 dlrs in year from settlement\nof liabilities under plan of reorganization from Chapter 11\nbankruptcy.\n    1986 quarter net includes 2,300,000 dlr provision for loss\non future store closings offset by reduction in pension\nliabilities.\n Reuter\n&#3;',0
'COMDATA NETWORK &lt;CDN> IN NEW ACQUISITION TALKS Comdata Network Inc said it is\nin active talks with other parties on a possible acquisition or\nrecapitalization of Comdata in an effort to maximize\nshareholder values.\n    Comdata said &lt;Rosewood Financial Inc> together with\n&lt;Cypress Partners LP> and &lt;Driftwood Ltd> have acquired over\nfive pct of Comdata stock and Rosewood intends to acquire over\n15 pct of Comdata.\n    Comdata said it has not yet reached a definitive agreement\nwith &lt;Mason Best Co> for the previously-announced\nrecapitalization and self-tender offer.\n Reuter\n&#3;',0
'NORTHGATE &lt;NGX> QUEBEC ORE RESERVES DECLINE Northgate Exploration Ltd said year-end\n1986 ore reserves at its two Chibougamau mines in Quebec fell\nto 8,141,150 short tons grading 0.077 ounce gold a ton and 1.63\npct copper from year-earlier 8,462,000 tons grading 0.077 ounce\ngold ton and 1.67 pct copper.\n    The company said it launched a 700,000 dlr exploration\nprogram at the mines to increase production and ensure the\noperations\' continued long life.\n    Ore production totaled 650,653 tons last year, it said,\nestimating year-end reserves contained about 627,000 ounces of\ngold and 265 mln pounds of copper.\n Reuter\n&#3;',0
'WEBCOR ELECTRONICS INC &lt;WER> 3RD QTR DEC 31 Shr loss 51 cts vs loss 44 cts\n    Net loss 1.8 mln vs loss 1.5 mln\n    Revs 3.1 vs 5.4 mln\n    Nine months\n    Shr loss 1.16 dlrs vs loss 1.33 dlrs\n    Net loss 4.0 mln vs loss 4.6 mln\n    Revs 9.9 mln vs 12.3 mln\n Reuter\n&#3;',0
'COMMUNICATIONS SYSTEMS INC &lt;CSII> 4TH QTR NET Shr 12 cts vs 10 cts\n    Net 613,986 vs 534,093\n    Revs 9,494,570 vs 7,591,564\n    Year\n    Shr 41 cts vs 59 cts\n    Net 2,151,130 vs 3,111,317\n    Revs 35.9 mln vs 33.7 mln\n    NOTE: 1986 net includes gains from discontinued operations\nequal to three cts compared with nine cts in 1985.\n Reuter\n&#3;',0
'TURKEY SEES 1.5 BILLION DLR DEFICIT IN 1986 Turkey expects a 1986 balance of payments\ndeficit of 1.5 billion dlrs, well over target, but is taking\nsteps to improve its performance in this and other fields, Ali\nTigrel, director of economic planning at the State Planning\nOrganisation said.\n    He told Reuters the shortfall was a direct consequence of\neconomic growth of nearly eight pct, up from 5.1 pct in 1985,\nwhich he said resulted mostly from a surge in domestic demand.\n    Tigrel acknowledged a need to cut inflation further after a\ndrop of more than 12 points to 24.6 pct in the Treasury\nwholesale index last year.\n    This year\'s target of 20 pct \"might be attainable but the\neconomic management will have to be careful,\" he said.\n    Tigrel, whose department produces the annual programme\nwhich is central to the government\'s economic planning, said\nTurkey\'s creditworthiness was at risk over the current account\nshortfall, originally targeted at 695 mln dlrs.\n    \"We must alleviate the current account substantially to\nsustain the creditworthiness that we have managed to secure\nover the last five years,\" he added.\n    His comment echoed last October\'s Organisation for Economic\nCooperation and Development report on Turkey, which said\nAnkara\'s case for more medium-term financing on better terms\nwould look better if inflation were lower and the current\naccount deficit cut or turned into a surplus.\n    \"In 1987 we must reduce the rate of growth in public sector\ninvestments, we must reduce the public sector deficit as a\npercentage of GNP and we must achieve a very visible\nimprovement in the current account deficit,\" he said.\n    Tigrel said a surge in public sector spending last year was\nalso to blame for the high deficits.\n    Appropriations to government departments had been cut by\neight pct since the budget was passed in December and foreign\nborrowing by municipalities had been restrained.\n    \"We are trying make sure that public bodies stick to the\ninvestment programme and do not exceed their appropriations,\" he\nsaid. It was hoped to bring the public sector borrowing\nrequirement down to five pct of GNP in 1987 from an estimated\n5.6 pct in 1986.\n    More modest GNP growth of five pct for 1987 was also\ntargeted, Tigrel said. Measures were being taken to encourage\nexports, and production incentives were being considered.\n    \"We must try to make sure that more capacity is injected\ninto the Turkish economy in the coming years. The promotion\npolicy is geared to make sure that both foreign investment and\nlocal private capital come more into play as far as\nmanufacturing capacity is concerned,\" Tigrel said.\n    He said the process of structural adjustment of the Turkish\neconomy to free market policies, begun in 1980, was still under\nway. Trade had been liberalised and a freer exchange rate\npolicy applied, but he acknowledged there was more to be done\nin a country where the state still dominates industry and the\ncurrency is only partially convertible.\n REUTER\n&#3;',0
'ENERGY/CALIFORNIA OIL PRODUCTION Drilling for oil in California is\nlikely to continue at last year\'s sharply reduced levels\ndespite recent gains in crude oil prices, industry analysts\nsaid.\n    Because much of the crude oil in California fields is\nthick, heavy and expensive to extract, oil prices would have to\nincrease to near 1985\'s levels before any significant recovery\nis seen in drilling, they said.\n    \"Companies will probably only drill their best prospects,\"\nsaid John Curti, an analyst with Birr Wilson Securities Inc.\n    Few new wells now are being drilled.\n    Only 33 rigs, about one-quarter of the total available,\nwere drilling for oil onshore in California last week, compared\nto about 70 last year, said Bill Bolster of Munger Oil\nInformation Services, which tracks California drilling\nactivity.\n    \"It\'s in the dregs right now,\" said Bolster of the state\'s\ndrilling activity.\n    Current prices are not enough to justify increased\ndrilling, said Ed Malmgreen of the California Independent\nProducers Association.\n    While an Organization of Petroleum Exporting Countries pact\nto curb production boosted oil prices early this year, prices\neventually fell.\n    Prices for California\'s marker grade, Line 63 blend, have\nslumped about 20 pct in the last month to 14 dlrs from a high\nof about 17 dlrs.\n    More than half of California\'s oil comes from stripper\nwells, those producing less than 10 barrels a day, and that\nmuch of that oil costs between 18 and 25 dlrs a barrel to\nextract, Malmgreen said.\n    \"It\'s not unusual for a stripper well to cost 18 dlrs,\"\nMalmgreen said.\n    Many stripper wells along the southern California coast\nproduce eight times as much water as crude oil, and inland\nwells frequently require the use of steam injection to spur\nextraction of the thick, heavy oil, he said.\n    The outlook for future production in California is clouded\nby a lack of exploratory drilling now, analysts said.\n    In the heart of California\'s oil patch, Kern County, which\nproduces about two-thirds of the state\'s oil, exploratory\ndrilling has slowed to a crawl.\n    Only 55 exploratory wells were drilled in Kern County in\n1986, compared to 137 in 1985, according to David Mitchell of\nthe state energy commission. So far this year only five\nexploratory wells have been drilled.\n    \"I don\'t think they\'ll even get to what they did last\nyear,\" Mitchell said.\n    No pickup in exploratory drilling is likely for the rest of\nthe decade, Mitchell said.\n    Along with the fall in drilling has come a decrease in the\nnumber of producing wells and overall production.\n    Between February and October of 1986, the number of\nproducing oil wells in California fell 14 pct to 43,521 from\nmore than 50,000, said Bill Guerard of the California Energy\nCommission.\n    In line with that decrease, California\'s crude oil output\nfell about 10 pct last year due to low oil prices and is\nexpected to remain at that lower level, analysts said.\n    Between February and October 1986, California\'s crude oil\nproduction slipped from an all-time high of 1.185 mln barrels\nper day to 1.066 mln bpd, Guerard said.\n    Total estimated crude oil production in California for 1986\nwas 408 mln bbls, compared with 424 mln bbls in 1985 and 405\nmln bbl in 1983, according to the California Department of\nConservation.\n    \"Production in 1987 will probably hold around 1986 levels,\"\nGuerard said.\n Reuter\n&#3;',0
'STANDARD OIL &lt;SRD> IN TEXAS NATURAL GAS FIND Standard Oil Co said the Friendswood\nDevelopment Number One well in the Fostoria or Deep Wilcox\nField of Montgomery County, Texas, flowed 4,500,000 cubic feet\nof natural gas per day from depths of 14,252 to 14,486 feet\nthrough a 14/64 inch choke.\n    It said it has contracted for Perry Gas Cos Inc to purchase\nnatural gas from the well, and Perry will build a four-inch\ngathering pipeline to connect to Natural Gas Pipeline Co\'s\ntransmission line.\n Reuter\n&#3;',0
'WEBCOR ELECTRONICS &lt;WER> IN TECHNICAL DEFAULT Webcor Electronics Inc said it\nremains in technical and payment default under its revolving\ncredit agreement and in technical default under certain other\nobligations to its lender.\n    Although its lender has not enforced its right to demand\npayment of the debt in full, it continues to reserve its right\nto do so at any time, it said.\n    Earlier, Webcor reported a third quarter net loss of 1.8\nmln dlrs and nine months net loss of 4.0 mln dlrs.\n Reuter\n&#3;',0
'FIRST SAVINGS BANK FLORIDA &lt;FSBF> SETS MEETING First Savings Bank of\nFlorida said it expects a special shareholder meeting to be\nheld around May 21 to consider the proposed merger into\nGibraltar Financial Corp &lt;GFC>.\n    It said the annual meeting will be held April 30 to elect\ntwo directors and ratify the appointment of auditors.\n Reuter\n&#3;',0
'IZVESTIA SAYS SOVIET WINTER CROPS NEED RESEEDING The government daily Izvestia said a\nconsiderable amount of Soviet winter crops need to be reseeded\nand the state 1987 grain harvest target of 232 mln tonnes will\nnot be easy to fulfil.\n    Without giving figures, the newspaper said: \"A considerable\npart of the winter crops must be reseeded, but that creates\nextra effort in the fields in spring.\"\n    The Soviet Union has previously said nine mln hectares of\nwinter grain will have to be reseeded because of winterkill.\n    A U.S. Department of Agriculture analyst in Washington has\nsaid the figure of nine mln hectares would equal about 25 pct\nof the total winter crop and would be the second highest\nwinterkill in 10 years.\n    \"The planned task of bringing in no less than 232 mln tonnes\nof grain is not simple,\" Izvestia said.\n    This week\'s sudden fall in temperatures has affected large\nparts of the country and has caused fieldwork to stop in the\nUkraine, it said, adding that temperatures fell to as low as\nminus 30 centigrade in Byelorussia.\n Reuter\n&#3;',1
'BORMAN\'S &lt;BRF> TO BUY SAFEWAY\'S UTAH DIVISION Safeway Stores Inc said it\nagreed to sell the assets and operations of its Salt Lake City\nDivision to Borman\'s Inc under undisclosed terms.\n    The division includes 60 operating supermarkets in five\nstates, most of which are in Utah, Idaho and Wyoming, together\nwith distribution and manufacturing facilities, Safeway said.\n    It said sales for the division for the year ended January\nthree were about 350 mln dlrs.\n    Safeway also said the transaction is subject to Borman\'s\nability to obtain financing and to successfully negotiate new\nlabor agreements with the various unions involved.\n Reuter\n&#3;',0
'FISHER FOODS &lt;FHR> SAYS STAKE IN FIRM SOLD Fisher Foods Inc said\n&lt;American Financial Corp> has sold its 1,500,000 Fishers\nshares, a 44 pct interest, to a group consisting of &lt;American\nSeaway Foods Inc>, &lt;Rini Supermarkets Inc> and &lt;Rego\nSupermarkets Inc>.\n    The company said in connection with the transaction, all\nfive American Financial representatives have resigned from its\nboard.\n Reuter\n&#3;',0
'U.S. SENATE PANEL MAKES CONSERVATION EXEMPTION The U.S. Senate Agriculture Committee\napproved a measure that would exempt farmers who planted\nalfalfa or other multiyear grasses and legumes between 1981 and\n1985 from a federal conservation requirement.\n    Sen. Edward Zorinsky, D-Neb., said his bill would restore\nequity under federal sodbuster rules, which currently deny farm\nprogram benefits to farmers who, between 1981 and 1985, planted\nalfalfa and other multiyear grasses and legumes without\ninterrupting the plantings with a row crop.\n    An official from a leading conservation group, who asked\nnot to be identified, said the panel\'s move was \"an unfortunate\nfirst action\" because it could lead to the exemption of\npotentially millions of acres from the sod buster regulations,\nestablished under the 1985 farm bill.\n Reuter\n&#3;',1
'PICO PRODUCTS INC &lt;PPI> 2ND QTR JAN 31 Shr profit three cts vs loss nine cts\n    Net profit 103,664 vs loss 326,675\n    Revs 7.6 mln vs 6.9 mln\n    Six months\n    Shr loss two cts vs loss 15 cts\n    Net loss 78,246 vs loss 522,868\n    Revs 14.7 mln vs 12.9 mln\n    NOTE:1986 net includes gain of 43,185 or one cts in 2nd qtr\nand six months for discount on early long-term debt repayment.\n Reuter\n&#3;',0
'OUTBOARD MARINE &lt;OM> RISING ON TAKEOVER RUMOR Wall Street traders said the stock of\nOutboard Marine Corp was rising on a rumor over a cable\ntelevision program that Outboard is a likely takeover target of\nSun Chemical Corp &lt;SNL>.\n    Outboard was up 3-1/8 to 34-5/8. On Tuesday it rose 1-3/8\nto 31-1/2 Tuesday.\n    A report on Cable News Network today said Sun Chemical has\n4.9 pct of Outboard and is conducting a study on whether to go\nfor control of the whole company.\n    An Outboard Marine spokesman would not comment on the\nrumor.\n    The cable program said a buyout of Outboard would be for up\nto 40 dlrs a share, or for a total of 680 mln dlrs.\n    A spokesman for Sun Chemical was not immediately available.\n    Outboard Marine last June adopted a shareholder rights plan\nthat will be triggered when a person or group acquires\nbeneficial ownership of 20 pct or more of its common or begins\na tender offer that would result in 30 pct ownership.\n    Wayne Jones, vice president at Outboard for strategic\nplanning, said management wants to stay independent. \"We are\nnot trying to sell the company. We are proceeding with our\nstrategic plans,\" he said.\n    That plan includes integrating five boat companies that\nOutboard Marine has bought since the middle of December. Jones\nsaid all five will cost between 100 mln dlrs to 120 mln dlrs.\n    An analyst who wanted anonymity said 40 dlrs a share is a\n\"decent\" price for outboard. \"A bdding war to 50 or 60 dlrs a\nshare is stretching it. Maybe 45 dlrs a share tops,\" he said.\n    Outboard, which has 17 mln shares outstanding, is in\nregistration for a two mln common share offering with Morgan\nStanley Inc. It makes sense, the analyst said, for Sun Chemical\nto strike before the offering is underway.\n Reuter\n&#3;',0
'&lt;ALGOMA CENTRAL RAILWAY> 4TH QTR NET Oper shr 36 cts vs 39 cts\n    Oper net 1,391,000 vs 1,485,000\n    Revs 61.6 mln vs 58.5 mln\n    YEAR\n    Oper shr 70 cts vs 1.16 dlrs\n    Oper net 2,677,000 vs 4,410,000\n    Revs 207.6 mln vs 200.2 mln\n    Note: 1986 net excludes extraordinary loss of 297,000 dlrs\nor eight cts shr vs yr-ago gain of 514,000 dlrs or 13 cts shr.\n Reuter\n&#3;',0
'GENOVA INC &lt;GNVA> 1ST QTR DEC 27 NET Oper shr profit four cts vs loss four cts\n    Oper net profit 151,448 vs loss 170,709\n    Sales 11.5 mln vs 9,581,406\n    NOTE: Prior year net includes 123,650 dlr tax credit but\nexcludes 52,409 dlr gain on early debt retirement.\n Reuter\n&#3;',0
'FRENCH WHEAT EXPORTS TO EC FALL French soft wheat exports to other\nEuropean Community countries fell 18 pct to 4.13 mln tonnes in\nthe first seven months of the 1986/87 season to January\ncompared with 5.04 mln in the same 1985/86 period, the French\nCereals Intervention Office (ONIC) said.\n    According to latest ONIC statistics, the main buyers were\nItaly with 1.89 mln against 1.63 mln in the same 1985/86\nperiod, West Germany 480,450 tonnes against 717,689, the\nNetherlands 462,048 (532,299) and Belgium 417,887 tonnes\n(919,337).\n    British and Greek imports of French soft wheat during this\nperiod were below year-ago levels. Between July 1 last year and\nJanuary 31, Britain bought 274,665 tonnes against 642,800\ntonnes, ONIC figures showed.\n    But Spanish purchases were up sharply at 258,507 tonnes\nagainst 2,751 tonnes in the same 1985/86 period and Portugal\nbought 37,599 tonnes compared with zero.\n    ONIC said the drop in French exports to other Community\ncountries was due to British competition.\n Reuter\n&#3;',1
'SUPREME EQUIPMENT/SYSTEMS CORP &lt;SEQP> 2ND QTR Shr 61 cts vs 18 cts\n    Net 670,000 vs 194,000\n    Revs 10.7 mln vs 10.4 mln\n    Six months\n    Shr 73 cts vs 35 cts\n    Net 798,000 vs 377,000\n    Revs 19.5 mln vs 19.8 mln\n    NOTE:1987 net includes gain of 362,000 dlrs in 2nd qtr and\n431,000 dlrs in six months from tax loss carryforward.\n Reuter\n&#3;',0
'GULF APPLIED TECHNOLOGIES INC &lt;GATS> 4TH QTR Oper shr loss five cts vs loss 24 cts\n    Oper net loss 165,000 vs loss 802,000\n    Revs 4,988,000 vs 3,101,000\n    Year\n    Oper shr loss 13 cts vs loss 1.33 dlrs\n    Oper net loss 454,000 vs loss 4,407,000\n    Revs 23.1 mln vs 8,937,000\n    NOTE: Results restated for discontinued operations.\n    1986 net both periods excludes 143,000 dlr tax credit.\n    Net excludes gains from discontinued pipelines and\nterminals operations of 216,000 dlrs vs 99,000 dlrs in quarter\nand 527,000 dlrs vs 296,000 dlrs in year.\n Reuter\n&#3;',0
'VAN DORN CO &lt;VDC> 4TH QTR NET Shr 55 cts vs 80 cts\n    Net 2,517,443 vs 3,633,217\n    Revs 79.1 mln vs 76.3 mln\n    12 mths\n    Shr 2.57 dlrs vs 3.41 dlrs\n    Net 11.7 mln vs 15.4 mln\n    Revs 305.1 mln vs 314.3 mln\n Reuter\n&#3;',0
'FIELDCREST CANNON INC &lt;FLD> SETS QUARTERLY Qtly div 17 cts vs 17 cts prior\n    Pay March 31\n    Record March 17\n Reuter\n&#3;',0
'VARIAN &lt;VAR> BUYS ANALYTICHEM INTERNATIONAL Varian Associates Inc said it\nacquired all the outstanding stock of closely-held Analytichem\nInternational Inc for an undisclosed amount of cash.\n    Analytichem, based in Harbor City, Calif., is a supplier of\nbonded phase preparation products used to prepare chemical\nsamples for analysis, Varian said.\n Reuter\n&#3;',0
'KANEB SERVICES INC &lt;KAB> 4TH QTR LOSS Oper shr loss 1.05 dlrs vs profit nine cts\n    Oper net loss 30.5 mln vs profit 3,930,000\n    Revs 23.9 mln vs 45.6 mln\n    12 mths\n    Oper shr loss 5.30 dlrs vs profit 34 cts\n    Oper net loss 155.8 mln vs profit 16.0 mln\n    Revs 113.7 mln vs 178.8 mln\n    Note: Oper excludes loss from discontinued operations of\n9,127,000 dlrs vs 12.4 mln dlrs for qtr and 28.4 mln dlrs vs\n960,000 dlrs for 12 mths.\n    Note: Oper includes writedown of offshore drilling\nequipment of 5,070,000 dlrs for qtr and 27.9 mln dlrs for 12\nmths.\n    Also includes writedowns of oil and gas assets and tubular\ngoods inventory of 82.2 mln dlrs and 4,246,000 dlrs,\nrespectively, for 12 mths.\n Reuter\n&#3;',0
'SUSPENSIONS/PARTS INDUSTRIES LTD &lt;SPILF> YEAR Shr 33 cts vs 60 cts\n    Net 1.1 mln vs 1.7 mln\n    Revs 11.7 mln vs 10.6 mln\n    NOTE:Full name is Suspensions and Parts Industries Ltd.\n Reuter\n&#3;',0
'ESTIMATED FRENCH BARLEY STOCKS WORRYING - ONIC The size of French 1986/87 carryover\nbarley stocks, estimated at 1.72 mln tonnes compared with\n700,000 tonnes in 1985/86 is worrying, French Cereals\nIntervention Office (ONIC) Director Bernard Vieux said.\n    He told journalists these estimates were unchanged at the\nend of February from the previous month while export forecasts\nwere lowered to 4.5 mln tonnes from 5.76 mln in 1985/86.\n    Vieux called on the EC Commission to help by awarding a\nlarger volume of export certificates and said if no outlets are\nopened for French barley a large amount could be put into\nintervention.\n    A small amount of French barley has already been put into\nintervention, Vieux said without detailing the amount.\n    The outlook for French maize is better with 1986/87 exports\nto non-EC countries now put at 700,000 tonnes against 200,000\ntonnes at the end of January and against 155,000 tonnes in\n1985/86.\n    The higher estimate is due to the EC Commission\'s decision\nto hold special export tenders for French maize, he said.\n Reuter\n&#3;',1
'MITCHELL ENERGY AND DEVELOPMENT CORP &lt;MND>PAYOUT Qtly div six cts vs six cts prior\n    Pay April Two\n    Record March 18\n Reuter\n&#3;',0
'FROST AND SULLIVAN INC &lt;FRSL> 2ND QTR JAN 31 Shr profit 12 cts vs loss two cts\n    Net profit 182,173 vs loss 28,977\n    Revs 4,483,047 vs 3,994,808\n    1st half\n    Shr profit 14 cts vs loss eight cts\n    Net profit 221,376 vs loss 120,435\n    Revs 8,270,947 vs 7,150,265\n Reuter\n&#3;',0
'S. KOREAN TRADE SURPLUS WITH U.S. SEEN FALLING South Korea\'s record 7.1 billion dlrs\ntrade surplus with the U.S. is bound to diminish as the\ncountry switches purchases from Japan in favor of U.S.\ncompanies, Trade Minister Woong-Bae Rha said.\n     He rejected suggestions the Korean Won is undervalued, and\ndenied any plans for a \"drastic and sudden\" revaluation.\n    Rha is heading a trade mission to 37 U.S. cities. Last year\nSouth Korea ran a 4.3 billion dlr trade surplus, including a\nrecord 7.1 billion surplus with the U.S. and a 5.5 billion dlr\ndeficit with Japan.\n    Rha told Reuters in an interview the current trade mission\nis looking for 2.0 billion dlrs in purchases from U.S.\ncompanies, about a quarter of which represents \"transferred\npurchases from Japanese sources.\"\n    Rha said the items being sought by the current mission are\n\"mainly chemicals, machinery and parts.\"\n    He said South Korea is the fourth largest importer of U.S.\nagricultural products. The current mission is not involved in\nthat area but there are plans to buy \"substantial amounts of\ncotton\" from the U.S.\n    He noted his country \"is clearly not as open as the American\nmarket. Nor is it reasonable to expect that it should be,\"\nconsidering South Korea has a 40 billion dlr foreign debt and\nspends six pct of its gross national product on defense.\n Reuter\n&#3;',0
'CRI INSURED &lt;CII> TO SET SPECIAL DISTRIBUTION CRI Insured Mortgage Investments\nInc said its advisor will recommend a special distribution of\n50 cts per share due to the sale of a federally insured first\nmortgage on Park Meadows I in Madison, Wis., for 4,267,871\ndlrs.\n    It said it received a 3,695,465 dlr return of capital and\n572,406 dlrs in income on the sale, and the 50 ct distribution\nwould represent a 43.294 ct return of principal and a 6.706 ct\ncapital gain and would be payable June 30 to holders of record\nMay 31.\n Reuter\n&#3;',0
'KANEB ENERGY PARTNERS LTD &lt;KEP> 4TH QTR LOSS Unit loss one ct\n    Net loss 186,000\n    Revs 10.7 mln\n    11 mths\n    Unit loss 7.26 dlrs\n    Net loss 121.4 mln\n    Revs 46.9 mln\n    Note: Partnership formed in February 1986.\n    Net includes writedown of oil and gas assets of 124.8 mln\ndlrs for 11 mths to comply with full-cost accounting methods.\n Reuter\n&#3;',0
'DIGICON &lt;DGC> COMPLETES SALE OF UNIT Digicon Inc said it has completed the\npreviously-announced disposition of its computer systems\ndivision to an investment group led by &lt;Rotan Mosle Inc\'s>\nRotan Mosle Technology Partners Ltd affiliate.\n Reuter\n&#3;',0
'TEXAS EASTERN &lt;TET> BUYS PETROLEUM TERMINAL Texas Eastern Corp said it has completed\nthe purchase of an idle petroleum products terminal near Norris\nCity, Ill., from &lt;Growmark Inc> for undisclosed terms and will\nreopen it in September after remodeling.\n    The company said the terminal will handle leaded and\nunleaded regular gasolines, number two fuel oil, ethanol and\nnatural gasoline.\n Reuter\n&#3;',0
'STERLING IN TEXAS GAS AND OIL DISCOVERY &lt;Sterling Investment Group>\nsaid it successfully drilled and completed a significant\ndevelopment well 65 miles southwest of Houston, Texas.\n    The well has a choke of 11/64 of an inch and is 10,097 feet\ndeep.\n    The well initially tested at a maximum daily flow rate of\ntwo mln cubic feet of gas and 304 barrels of condensate.\n    Participants in the new well, along with Sterling, are\nTrafalgar House Ltd of the U.K. and &lt;Texstar NOrth America Inc.>\n Reuter\n&#3;',0
'COMPUTER HORIZONS &lt;CHRZ> IN ACQUISITION Computer Horizons Corp said it\npurchased ComputerKnowledge Inc, a software training education\ncompany headquartered in Dallas.\n    Terms were not disclosed.\n                \n Reuter\n&#3;',0
'POLICY MANAGEMENT &lt;PMSC> MAKES ACQUISITION Policy Management Systems Corp\nsaid it has acquired the majority of the assets and business of\nAllied Research Inc of Salem, Ore., and Consolidated Insurance\nServices Inc, of Springfield, Va., for undisclosed terms.\n    It said the two companies, which had combined 1986 revenues\nof about two mln dlrs, provide underwriting information\nservices to property and casualty insurers.\n Reuter\n&#3;',0
'UNICORP CANADA&lt;UNI.A> CUTS PUROLATOR&lt;PCC> STAKE Unicorp Canada Corp told the\nSecurities and Exchange Commission it cut its stake in\nPurolator Courier Corp to 286,500 shares, or 3.7 pct of the\ntotal outstanding, from 962,400 shares, or 12.4 pct.\n    Unicorp, a management and investment holding company\ncontrolled by its chairman, George Mann, said it sold 675,900\nPurolator common shares on March 2 and 3 at 34.782 and 34.750\ndlrs a share.\n    Purolator agreed this past weekend to be acquired by\nmanagers of its U.S. courier business and E.F. Hutton LBO Inc\nin a leveraged buyout valued at 265 mln dlrs.\n Reuter\n&#3;',0
'FIRM ACQUIRES &lt;AMERICAN NUTRITION WORKS INC> &lt;Nusource Investments Inc>, a\npublicly held shell company, said it acquired American\nNutrition Works Inc through a transaction in which American\nNutrition shareholders received 28 mln shares of Nusource stock\nin exchange for their shares.\n    American Nutrition operates a chain of stores sellings\nvitamins and health products.\n    Nusource said shareholders elected a new board consisting\nof Richard A. Trydahl, Samuel Mineo and Charles E. Flink and\nvoted to change the name of the company to ANW Inc.\n Reuter\n&#3;',0
'CANADA WHEAT BOARD ADVISES CUT IN GRAIN PRICES The Canadian Wheat Board has advised\nthe federal government to sharply cut initial prices paid to\nfarmers for their wheat, oats, and barley in the crop year\nbeginning August 1, a board spokesman said.\n    The spokesman declined to give the size of the recommended\nprice drops but said it would not be good news for western\nCanadian grain growers.\n    \"They\'re all lower,\" he said. \"This is really getting\npretty serious. We\'re talking nuts and bolts economic survival\nand whether it\'s worthwhile for farmers to put in a crop.\"\n    Farm leaders and economists have estimated the board will\nrecommend cuts of around 20 pct in the initial prices.\n    Farmers receive the initial payment when the grain is\ndelivered to the elevators used by the wheat board.\n    If the wheat board, which markets most of Canada\'s grain,\nobtains higher than expected prices on world markets, the\nfarmers receive a final payment at the end of the crop year. If\nprices are lower, the federal treasury makes up the difference.\n    The final decision on the initial prices, usually made in\nApril, rests with Wheat Board Minister Charles Mayer and the\nfederal cabinet.\n    Last year Mayer cut the initial prices between 19 and 27\npct but last fall the government announced a one billion\nCanadian dlr aid program to compensate for the price cuts.\n    But federal agricultural officials have already warned\nfarmers not to depend on additional government aid this year.\n Reuter\n&#3;',1
'GATT COUNCIL DEFERS DECISION ON SEMICONDUCTORS The ruling GATT Council deferred a\ndecision on whether to set up a dispute panel on the basis of a\nEuropean Community complaint against the U.S.- Japanese\nagreement on exports of computer semiconductors.\n    David Woods, spokesman of the General Agreement on Tariffs\nand Trade (GATT), told a news briefing that the main parties\nwould continue bilateral talks. This was in the hope of\nresolving the row before the next Council meeting on April 15.\n    The five-year accord signed in July 1986 aims to protect\nthe U.S. Market from dumping of low-price Japanese microchips,\nofficially known as semiconductors.\n    The E.C. Complained the accord breached GATT trade rules by\nallowing Tokyo to monitor prices, allowing it to set minimum\nprices for Japanese chips sold in third countries.\n    The 12-nation Community also charged the agreement gave\nU.S. Producers preferential access to the Japanese market.\n    Woods said many nations -- Hong Kong, Canada, Switzerland,\nSingapore, Sweden, Malaysia and Nigeria -- had supported the EC\ncomplaint during the heated Council debate.\n    Japan\'s delegate, Minoru Endo, and U.S. Ambassador Michael\nSamuels replied in the debate that the E.C. Charges were\nunfounded, but they were willing to continue bilateral talks.\n Reuter\n&#3;',0
'FIRST SOUTHERN &lt;FSFA> TO MAKE ACQUISITION First Southern Federal Savings and\nLoan Association said it has agreed in principle to acquire\nHorizon Financial Corp and Horizon Funding corp from &lt;Victor\nFederal Savings and Loan Association> of Muskogee, Okla., for\nundisclosed terms.\n    The company said the purchase is subject to approval of the\nboards of First Southern and Victor and regulatory agencies.\n    Horizon Financial services mortgage loans and Horizon\nFunding is a wholesale loan purchasing operation. Horizon\nservices 3.2 billion dlrs in mortgage loans.\n Reuter\n&#3;',0
'DANAHER CORP &lt;DHR> 4TH QTR NET Shr 71 cts vs 43 cts\n    Net 7,274,000 vs 4,447,000\n    Rev 161.6 mln vs 77.6 mln\n    Year\n    Shr 1.51 dlrs vs 1.32 dlrs\n    Net 15,401,000 vs 13,525,000\n    Rev 454.0 mln vs 304.9 mln\n   \n Reuter\n&#3;',0
'FIRM AGREES TO MERGE WITH LOTOQUIK INT\'L &lt;Chatsworth Enterprises\nInc>, a publicly held shell corporation, said it signed a\nletter of intent to merger with &lt;Lotoquik International Ltd>, a\nNassau, Bahamas-based maker of video lottery machines.\n    Under terms of the merger agreement, Chatsworth said\nLotoquik shareholders would own a majority of the surviving\ncompany.\n Reuter\n&#3;',0
'ASBESTEC TO BUY CONTRACTOR, RECEIVES CONTRACT &lt;Asbestec Industries Inc> said\nit signed a letter of intent to buy asbestos abatement\ncontractor &lt;P.W. Stephens> for three mln dlrs in cash, stock\nand notes.\n    The transaction is expected to be completed early in the\nthird quarter of its fiscal year ending September 30, 1987.\n    Asbestec also said it expects to sign March six a 900,000\ndlr contract to remove asbestos from a major apartment complex\nin Washington, D.C. The project is scheduled to begin on March\nnine.\n Reuter\n&#3;',0
'GATT SETS UP DISPUTE PANEL ON CANADIAN HERRING The ruling GATT Council set up a formal\ndispute panel to examine a U.S. Complaint that a Canadian law\nprohibiting export of unprocessed herring and salmon was\ndiscriminatory.\n    David Wood, official spokesman of the General Agreement on\nTariffs and Trade (GATT), told a news briefing the decision was\ntaken after bilateral consultations failed to resolve the row.\n    U.S. Ambassador Michael Samuels charged during the Council\ndebate that Canada was trying to preserve domestic jobs by\ninsisting that herring and salmon be processed at home.\n    Robert White, Canada\'s deputy chief of delegation, replied\nthe law was in line with GATT rules, and was for conservations\nreasons. But he agreed to setting up the dispute panel.\n Reuter\n&#3;',0
'COLOMBIAN INFLATION RISES 2.03 PCT IN FEBRUARY colombia\'s cost of living index rose 2.03\npct in february after a 3.27 pct increase in january and a 3.15\npct rise in february 1986, the government statistics institute\nsaid.\n    The rise brought year-on-year inflation to 19.77 pct\ncompared with 23.72 pct at end-february 1986 and 21.66 pct for\nthe year ending january 1987.\n    The government has predicted that inflation this year would\nbe lower than in 1986 when it reached 20.9 pct.\n Reuter\n&#3;',0
'TALKING POINT/GENERAL MOTORS &lt;GM> General Motors Corp staged an explosive\nrally on Wall Street after a share buyback program announced\nyesterday, but analysts said GM\'s future remains clouded by\nstiff competition and erosion of market share.\n    GM shares rose 3-1/2 to 79-1/8 in active trading. Analysts\nagreed that investors liked the repurchase program but they \ndiffered sharply over the carmaker\'s long term prospects.\n    \"I\'m very positive on GM,\" said Jack Kirnan of Kidder\nPeabody and Co. \"They\'re clearly committed to enhancing\nshareholder value.\"\n    However, some analysts worry about how GM will pay for the\nbuyback and whether new models will enable the carmaker to\nrecapture lost market share.\n    After the market had closed yesterday, GM said it would buy\nback 20 pct of its common stock by the end of 1990. The\nannouncement sent investors today scrambling for GM shares,\nwith more than 3.2 mln shares changing hands by mid-day.\n    The buyback plan caused several analysts bullish on the\nstock to reiterate buy recommendations this morning, and at\nleast one increased his earnings estimates for GM based on a\ngood performance expected from new car models.\n    But David Healy of Drexel Burnham Lambert Inc said the\nrepurchase program is not a positive.\n    \"The buyback doesn\'t really change the earnings outlook and\nputs more stress on the balance sheet,\" he said, since GM will\nhave to borrow money to pay for the stock purchases. The stock\nshould settle back down to around 76, he added.\n    Healy projects GM will earn five dlrs a share in 1987 and\n5.50 dlrs in 1988, compared to 1986 earnings of 8.21 dlrs.\nHealy\'s numbers are near the low end of Wall Street estimates,\nwhich range from five dlrs to 7.80 dlrs in 1987 and from four\ndlrs to 10.80 dlrs in 1988.\n    Like other analysts, Healy sees GM\'s share of the domestic\ncar and truck market falling in 1987. \"On balance, GM cars are\nnot selling as well as their competitors,\" he said.\n    In late February, GM car sales fell 8.6 pct from the\nyear-ago period while competitors Ford Motor Co &lt;F> and\nChrysler Corp &lt;C> both posted increases. But GM said February\nsales showed improvement over January, adding that it expects\nimprovement in coming months.\n    Overall, GM\'s share of U.S. car and truck sales should fall\nto around 38 or 39 pct in 1987 from 41 pct at the end of 1986,\nanalysts said. The numbers include imports.\n    Kidder Peabody\'s Kirnan said cost reductions and product\nimprovements this year should lead to positive cash flow by the\nfourth quarter, which will help GM finance the buyback.\n    \"GM (stock) has been a real laggard and now it\'s rolling up\nits sleeves and getting serious. I think there\'s a major\nearnings surprise in the winds,\" he said.\n    Kirnan raised his earnings estimates slightly today, in\npart in reaction to the announced buyback, and sees GM earning\n5.65 dlrs this year and 9.75 dlrs in 1988. \"The company is more\nconcerned than ever about improving their relative valuation\nwith respect to Ford and Chrysler,\" he said.\n    Another positive for the stock is GM\'s dividend, currently\nfive dlrs a share annually, which gives it a higher yield than\nits competitors, Kirnan said. And GM will raise the cash\ndividend 25 to 50 cts a share next year, he predicted.\n    But analyst Michael Lucky of Shearson Lehman Brothers Inc\nsaid U.S. car sales will weaken, and GM\'s new products, if\nsuccessful, will only slow but not halt the erosion of its\nmarket share.\n    \"I believe their new cars will be successful, but that will\nonly curtail losses in market share,\" which will fall to around\n35 pct by 1990, Lucky said.\n    Philip Fricke of Goldman Sachs and Co falls in the middle\nof the bulls and bears. While he is recommending GM stock, he\nsaid results will not improve until 1988.\n    \"I\'m not looking for improvement this year. This is a\ntransition year for GM,\" he said.\n    Fricke, who estimates 1987 earnings at 7.80 dlrs and 1988\nat 10.80 dlrs, said cost cutting and new car models will not\naffect 1987 results. \"But the key thing isn\'t so much what they\nearn this year. It\'s the momentum beyond this year that\'s\nimportant.\"\n Reuter\n&#3;',0
'PARTNERSHIP CUTS STAKE IN ERC INTERNATIONAL&lt;ERC> Parsow Partnership Ltd, a Nevada\ninvestment partnership, said it lowered its stake in ERC\nInternational Inc to 343,500 shares or 8.3 pct of the total\noutstanding common stock, from 386,300 shares, or 9.3 pct.\n    In a filing with the Securities and Exchange Commission,\nParsow said it sold 42,800 ERC common shares between Jan 9 and\nMarch 2 at prices ranging from 12.125 to 14.50 dlrs each.\n    The partnership said its dealings in ERC stock are for\ninvestment purposes and it has no intention of seeking control\nof the company.\n Reuter\n&#3;',0
'IRANIAN OIL MINISTER DUE IN ALGERIA ON FRIDAY Iranian Oil Minister Gholamreza Aqazadeh\nis expected here on Friday for talks with his Algerian\ncounterpart Belkacem Nabi, the official Algerian news agency\nAPS said today.\n    Aqazadeh, who will be accompanied by a large delegation,\nwill have talks on bilateral relations in the field of energy\nand exchange views with Algerian officials on the current world\nenergy situation, it said.\n Reuter\n&#3;',0
'&lt;GOLDOME FSB> YEAR NET Net 52.9 mln vs 21.9 mln\n    NOTE: Company is mutual savings bank.\n Reuter\n&#3;',0
'BEAR AUTOMOTIVE SERVICE &lt;BEAR> 4TH QTR OPER NET Oper shr 18 cts vs 28 cts\n    Oper net 1,076,000 vs 1,441,000\n    Sales 22.6 mln vs 21.2 mln\n    Avg shrs 5,970,000 vs 5,080,000\n    Year\n    Oper shr 55 cts vs 49 cts\n    Oper net 3,007,000 vs 2,521,000\n    Sales 82.9 mln vs 73.7 mln\n    Avg shrs 5,429,000 vs 4,484,000\n    Note: Full company name is Bear Automotive Service\nEquipment Co\n    Oper shr excludes extraordinary profit from utilization of\ntax loss carryforward of 231,000 dlrs, or four cts a share and\n1.2 mln dlrs, or 22 cts a share, respectively, in 1986 qtr and\nyear, and of 441,000 dlrs, or nine cts a share and 1.1 mln\ndlrs, or 23 cts a share, respectively, in 1985 qtr and year.\n    1985 year oper net excludes loss from cumulative effect of\nchange in accounting principle of 67,000 dlrs, or one ct a\nshare.\n\n Reuter\n&#3;',0
'U.K. OIL INDUSTRY SAID NOT PERMANENTLY DAMAGED The U.K. Offshore oil industry has\nsuffered from last year\'s collapse in oil prices but should not\nsustain any permament damage, Minister of State for Energy\nAlick Buchanan-Smith said.\n    The drilling, diving and supply vessels sectors had been\nmost affected, Buchanan Snith told the House of Commons energy\ncommittee. He noted, however, that oil companies were still\nspending six mln stg a day to maintain North Sea production.\n    He added that a report by the manpower services committee\nwhich said 14,000 jobs were lost in the industry in 1986 should\nbe seen in the context of a total workforce of 300,000.\n    Prices of North Sea Brent-grade crude dipped to a low of\n8.50\ndlrs a barrel last July from a peak of over 30 dlrs the\nprevious November.\n    They recovered to around 18 dlrs a barrel after last\nDecember\'s OPEC meeting and Brent traded today around 17.15\ndlrs.\n    Buchanan-Smith said the U.K. Has no intention of adopting\nOPEC style quotas, noting that Britian is an oil-consuming as\nwell as an oil-producing nation.\n Reuter\n&#3;',0
'CHASE MANHATTAN STUDYING ITALIAN EXPANSION &lt;Chase Manhattan Bank N.A.> is considering\nexpanding its operations in Italy, particularly in the consumer\nbanking sector, a Chase Manhattan official said.\n    Robert D. Hunter, Chase Manhattan area executive for\nEurope, Africa and the Middle East, said at a news conference\nthat plans to broaden the bank\'s activities on the Italian\nmarket have not been finalised, however.\n    Asked if Chase Manhattan would consider an acquisition in\nItaly, Hunter said: \"We will look at any opportunity, but the\nprices of Italian banks have been quite high.\" Chase Manhattan\nhas branches in Milan and Rome.\n Reuter\n&#3;',0
'HRS &lt;IHIRF> REDUCING STAKE IN HAL ROACH &lt;HRSI> International H.R.S. Industries Inc said\nit would reduce its stake in Hal Roach Studios Inc to 22 pct\nfrom 52 pct in return for 6.3 mln U.S. dlrs from Qintex Inc\'s\nQintex America (Media) Ltd unit.\n    H.R.S. said that under the deal\'s first stage, closng March\n22, it would sell Qintex 900,000 Hal Roach shares at seven U.S.\ndlrs a share each for a total of 6.3 mln dlrs and Roach will\nrepay H.R.S. 3.3 mln U.S. dlrs of advances.\n    Qintex will also complete the 16.8 mln U.S. dlr buy of 2.4\nmln Roach treasury shares at seven dlrs each and provide Roach\nwith 50 mln U.S. dlrs of financing for expansion, H.R.S. said.\n    H.R.S. said that the agreement also provided for a second\nstage over one year in which it had a put option exercisable \none year from closing to sell Qintex all or part of its two mln\nRoach shares for 8.50 U.S. dlrs a share.\n    It said Qintex had a 30-day call option, exerciseable nine\nmonths from closing, to buy from H.R.S. all or part of one mln\nRoach shares at the greater of 8.50 dlrs each or the average\nRoach share price for three months before exercise date.\n    Qintex will also acquire another 2.4 mln Roach treasury\nshares at seven dlrs a share 12 months after closng for another\n16.8 mln dlrs, H.R.S. said.\n Reuter\n&#3;',0
'TOTAL STILL EXPECTS 1.5 BILLION FRANC 1986 LOSS French oil group Total Cie Francaise des\nPetroles &lt;TPN.PA> is still expecting a 1.5 billion franc\nconsolidated net loss, including minority interests, for 1986,\nafter taking account of stock losses of 7.5 billion francs, the\ncompany said in a communique after a board meeting here.\n    In late January group president Francois-Xavier Ortoli told\njournalists that the slump in oil prices and the weak dollar\nhad caused the stock depreciation, turning a consolidated net\nprofit, before losses on stocks, of six billion francs into a\nconsolidated net loss of 1.5 billion francs.\n    Earlier today Armand Guilbaud, president of Total\'s\nrefining and distribution subsidiary Cie de\nRaffinage-Distribution (CRD) Total France &lt;RAFF.PA>, told\njournalists that 1986 had marked a return to profit for the\nsubsidiary before stock depreciation.\n    CRD made a net profit before stock depreciation and\ncurrency factors of 1.95 billion francs last year after a 1.16\nbillion loss in 1985.\n    But its net loss last year, taking account of that\ndepreciation as well as currency fluctuations, was 1.16 billion\nfrancs after a 1.05 billion loss in 1985.\n    In 1986 CRD\'s sales fell 5.7 pct to 19.7 mln tonnes from\n20.9 mln \"due to the growth in imports by independent\ndistributors following a relaxation of regulations,\" Guilbaud\nsaid.\n    The subsidiary is expecting to cut its workforce to 6,000\nthis year and 5,000 in 1988 from 6,800 last year, under a job\nreduction scheme which will eventually save the group 600 mln\nfrancs, he said.\n    Concerning business in 1987, he said that \"January was a\ngood month, but the situation deteriorated in February.\"\n Reuter\n&#3;',0
'STEEGO CORP &lt;STG> 3RD QTR JAN 31 LOSS Oper shr loss 16 cts vs loss 10 cts\n    Oper net loss 1,569,000 vs loss 990,000\n    Sales 50.3 mln vs 50.1 mln\n    Nine mths\n    Oper shr loss nine cts vs loss two cts\n    Oper net loss 849,000 vs loss 199,000\n    Sales 159.9 mln vs 156.6 mln\n    NOTE: Current nine mths net includes 1,036,000 dlr pretax\ngain on sale of property.\n    Prior year net both periods includes pretax gain 1,095,000\ndlrs on pension plan termination.\n    Current quarter net includes 580,000 dlr tax credit.\n    Prior year net includes losses from discontinued operations\nof 200,000 dlrs in quarter and 573,000 dlrs in nine mths.\n    Results restated for discontinued operations.\n Reuter\n&#3;',0
'E-SYSTEMS INC &lt;ESY> SETS QUARTERLY Qtly div 12-1/2 cts vs 12-1/2 cts prior\n    Pay April One\n    Record March 13\n Reuter\n&#3;',0
'RESOURCE EXPLORATION &lt;REXI> IN DRILLING PACT Resource Exploration Inc said it has\nagreed to let &lt;Langasco Energy Corp> drill 50 oil and\nnatural gas wells on its Clinton Sandstone formation within its\nTuscarawas and Harrison County, Ohio area of operation.\n    Resource said it would receive a cash payment and an\noverriding royalty interest on oil and gas production from\nwells drilled on the property.\n    Resource said gas produced from the property will be\ntransported through its existing pipeline. Also, Resource said\nit will provide service work to complete the wells and it will\noperate the wells after they are completed.\n Reuter\n&#3;',0
'TEXAS OIL REGULATOR CALLS FOR STATE TAX BREAKS Texas Railroad Commissioner James\nNugent, saying that the ailing oilpatch cannot wait for\nCongress to act, today urged Texas state lawmakers to adopt\nincentives to find new oil reserves and to exempt severance\ntaxes on oil produced from stripper wells.\n    Nugent said in a speech to the Texas house of\nrepresentatives that the state must take the initiative in\nmolding U.S. energy policy and finding new ways to assist\ntroubled oil producers.\n    His proposal to revitalize Texas\' oil industry would exempt\nstripper wells that produce 10 barrels of oil or less each day\nfrom the state\'s 4.6 pct severance tax. He said that the\nmajority of Texas\' oil wells fall within the stripper well\ncategory and a price swing of two to three dlrs a barrel can be\ncrucial in determining if the well remains in production.\n    Nugent also called for state lawmakers to exempt new\nwildcat wells from the state severance tax for up to five years\nas a financial incentive to explore for new oil reserves.\n    Secondary and tertiary oil production, expensive methods of\nproduction that inject water or gas into the ground to recover\noil, should also be exempted from the severance tax, Nugent\nsaid. His plan would exempt existing secondary and tertiary\nwells that produce at a rate of less than three barrels a day\nfor three years, or until the price of oil reaches $25 a\nbarrel.\n    \"We\'ve been sitting back and waiting on two federal\nadministrations to develop a coherent energy policy for the\nnation to follow. I say we have waited long enough,\" Nugent\nsaid. \"In other words, let\'s tell Washington to either lead,\nfollow, or get out of the way.\"\n    Nugent said that the financial losses to the state treasury\nby exempting marginal oil production from state severance taxes\nwould be more than made up by stimulating new business for the\noil supply and service industry.\n Reuter\n&#3;',0
'UNICORP AMERICAN CORP &lt;UAC> SETS QUARTERLY Qtly div 15 cts vs 15 cts prior\n    Pay March 31\n    Record March 13\n Reuter\n&#3;',0
'COLOMBIA BLASTS U.S. FOR COFFEE TALKS FAILURE Colombian finance minister Cesar Gaviria\nblamed an inflexible U.S. position for the failure of last\nweek\'s International Coffee Organisation, ICO, talks on export\nquotas.\n    \"We understand that the U.S. Position was more inflexible\nthan the one of Brazil, where current economic and political\nfactors make it difficult to adopt certain positions,\" Gaviria\ntold Reuters in an interview.\n    The U.S. and Brazil have each laid the blame on the other\nfor the breakdown in the negotiations to re-introduce export\nquotas after being extended through the weekend in London.\n    Gaviria stressed that Colombia tried to ensure a successful\noutcome of the London talks but he deplored that intransigent\nattitudes, both from producing and consuming nations, made it\nimpossible.\n    In a conversation later with local journalists, Gaviria\nsaid the U.S. attitude would have serious economic and\npolitical consequences, not necessarily for a country like\nColombia but certainly for other Latin American nations and for\nsome African countries.\n    He told Reuters that Colombia, because of the relatively\nhigh level of its coffee stocks, would probably suffer less.\n    According to Gaviria, Colombia can hope to earn about 1,500\nmln dlrs this calendar year from coffee exports, which\ntraditionally account for 55 pct of the country\'s total export\nrevenue.\n    That estimate would represent a drop in revenues of 1,400\nmln dlrs from 1986.\n    Colombia, which held stockpiles of 10.5 mln bags at the\nstart of the current coffee year, exported a record 11.5 mln\nbags in the 1985/86 coffee year ending last September 30.\n Reuter\n&#3;',0
'LIBERTY FINANCIAL GROUP &lt;LFG> REGULAR DIVIDEND Qtly div 12.5 cts vs 12.5 cts in prior qtr\n    Payable March 13\n    Record February 27\n Reuter\n&#3;',0
'PACTEL &lt;PAC> SEES EARNINGS GROWTH Pacific Telesis Group chairman Donald\nGuinn told a meeting of security analysts that the company sees\ncontinued earnings growth in 1987 above the 1.08 billion dlrs,\nor 5.02 dlrs per share, earned in 1986.\n    Guinn also said that capital spending stood at about 1.8\nbillion dlrs in 1986, and the company expected the figure to\nremain flat each year through 1989. He noted that all captial\nspending will be internally financed.\n    Guinn also told analysts that the company faced some\nregulatory uncertainties in ongoing rate cases at its Pacific\nBell operating company.\n    In rates hearings before, the California Public Utility\nCommission, Guinn said the company faced a potential 76 mln dlr\nrevenue reduction, and due to ongoing discussions with the\ncommission, he said the figure might even be greater.\n    The company also faces some opposition to a 225 mln dlr\nrate hike requested for 1986. Guinn said the commission found\n180 mln dlrs of the hike was based on questionable calculations\nand assumptions, while 45 mln dlrs might represented unneeded\nmodernization costs.\n    Guinn also said that the company is still studying whether\nto join an international consortium that plans to lay a\ntranspacific telephone cable between the U.S. and Japan.\n    \"We have not agreed to anything,\" Guinn said, but added he\nwould soon recieve a feasibility study on the venture and the\ncompany would make a decision soon on participating.\n    Asked by an analyst about the recent recommendation by the\nU.S. Department of Justice which would allow the Bell operating\ncompanies to offer limited long distance services, Guinn said\nthe company would likely shy away from that type of expansion.\n    \"(Long distance services) is a very competitive business.\nIt\'s a commodity business and becoming more so,\" he said. \"I\'m\nnot so sure we would be interested in getting back into that\nbusiness.\"\n    However, Guinn generally applauded the U.S.\nrecommendations, saying they would give more latitude for the\nBell operating companies to expand into non-regulated\nbusinesses and provide more flexibility to form strategic\nalliances with other companies.\n    He added that while the company welcomes the expansion into\nnew areas, it is not currently involved in any acqusition\ntalks. \"We do not have anything actively under consideration,\"\nhe said.\n   \n Reuter\n&#3;',0
'TRANS WORLD AIRLINES MAKES 52 DLR/SHARE CASH MERGER PROPOSAL FOR USAIR\n ',0
'UNICORP AMERICAN CORP &lt;UAC> 4TH QTR NET Shr 13 cts vs 70 cts\n    Net 1,279,000 vs 7,979,000\n    Revs 16.4 mln vs 19.6 mln\n    Year\n    Shr 89 cts vs 2.43 dlrs\n    Net 10.3 mln vs 29.8 mln\n    Revs 56.2 mln vs 83.8 mln\n    Avg shrs 12.1 mln vs 13.1 mlnm\n    NOTE: 1986 year net includes gain 12.9 mln dlrs from sale\nof eight real estate properties.\n Reuter\n&#3;',0
'KENYA SIGNS PACT TO ESTABLISH OWN SHIPPING LINE Kenya has signed an agreement with\nBritish and German interests to establish a shipping line that\nwill handle 40 pct of the country\'s external trade, sources\nclose to the deal said.\n    The state-owned Kenya Ports Authority, KPA, signed an\nagreement with the Hamburg-based shipping line Unimar\nSeetransport to establish the Kenya National Shipping line,\nwith an initial capital of 100 mln shillings, sources said. KPA\nwill hold 70 pct of the shares in the new company.\n    The line will initially charter vessels to operate services\nbetween Mombasa and the main ports of industrial Europe, but\nmay eventually build or buy its own ships. The sources said it\nwould aim to carry a large part of Kenya\'s coffee and tea\nexports and oil and fertiliser imports.\n Reuter\n&#3;',0
'NEW BANK RULES TOUGHER THAN NEEDED, DEALERS SAY U.S. and U.K. bank regulators are asking\nbanks to set aside more reserves than is necessary to cushion\nthem against the risks posed by the interest rate and currency\nswap transactions they carry, swap dealers said.\n    After viewing proposed guidelines released jointly today by\nthe Bank of England and the Federal Reserve Board, dealers said\nthat in effect, regulators are asking them to set aside\nreserves twice for the same risk.\n    Market participants will have 60 days to respond to the\nproposals.\n    Adoption of stiffer capital requirements is especially\nsignificant in the eurobond markets, which saw new issue volume\nof about 183 billion dlrs in 1986 according to figures compiled\nby Euromoney magazine. While no firm figures exist, dealers in\neurobonds estimate that 80 pct of all new issues are involved\nin some swap arrangement. Separately, the ISDA estimates that\nabout 300 billion dlrs worth of swap transactions are\noutstanding. Kenneth McCormick, co-chairman of the\nInternational Swap Dealers Association (ISDA) and President of\nKleinwort Benson Cross Financing Inc, said that the Association\nhas no comment and will study the proposals.\n    \"What they are proposing is really double counting,\" Patrick\nde Saint-Aignan, managing director of swaps for Morgan Stanley\nand Co, said. Instead, he argues, banks should either be\nrequired to hold a percentage of the face value -- say one pct\nper year to maturity -- or to hold a percentage of the cost of\nreplacing the contract in the event of a counterparty default.\n    \"The potential risk factors are very large relative to what\nwe had expected,\" said a director at one U.K. merchant bank.\n\"What they are really doing is asking you to capitalize now --\nto borrow money now -- to cushion you against risk you might\nhave 10 years from now,\" he added.(Adds title first paragraph).\n    Dealers also said they believe that banks not covered by\nthe agreement, such as those based in Japan, will have a\ncompetitive advantage because they will not have to pass the\ncosts on to customers.\n    Indeed, regulators are apparently also concerned about the\nexclusion of other countries from the new requirements. Federal\nReserve Board Governor Martha Seger, following approval of the\nproposed guidelines by the Fed, said she is concerned that\nJapan was not involved in the U.K.-U.S. effort to draft new\ncapital rules.\n     Dealers said they were somewhat relieved to see that bank\nregulators recognized the concept of netting, that is,\noffsetting the amounts receiveable from and payable to a single\ncounterparty against each other.\n    The paper said that regulatory authorities \"recognize that\nsuch arrangements (netting) may in certain circumstances reduce\ncredit risk.\" Furthermore, the paper said, if a netting\nagreement could be reached that would withstand legal tests, it\nmight be willing to reduce capital requirements accordingly.\n    But dealers said they fear regulators may insist on an\nairtight netting agreement that is impossible to design.\n     \"One problem is that there has never been a major default\nin the swaps market. So we don\'t know if any of the swap\narrangements will really stand up in court,\" said one bank\nofficial.\n Reuter\n&#3;',0
'SHAW\'S SUPERMARKETS INC &lt;SHAW> YEAR JAN 3 Shr 1.23 dlrs vs 1.33 dlrs\n    Semi-annual div six cts vs six cts prior payment\n    Net 16.2 mln vs 14.8 mln\n    Sales 1.09 billion vs 909.4 mln\n    NOTE: Dividend is payable April one to holders of record\nMarch nine\n Reuter\n&#3;',0
'DYNAMICS CORP &lt;DYA> IN SETTLEMENT WITH CTS &lt;CTS> Dynamics Corp of America said\nit has reached an agreement with CTS Corp resolving all\ndifferences between the two companies.\n    It said as a result of the settlement, CTS\'s special board\ncommittee has stopped soliciting orders to purchase some or all\nof CTS.\n    Dynamics, which now owns 27.5 pct of CTS\' outstanding\nstock, said it agreed to limit its shareholdings to not more\nthan 35 pct of the outstanding shares for a year following the\ncompany\'s 1987 annual meeting.\n    Dynamics said the CTS board will recommend CTS shareholders\nvote at the 1987 annual meeting in favor of the company paying\nDynamics 2,178,000 dlrs as a reimbursement for its CTS releated\ncosts and granting Dynamics an option to buy enough CTS common\nat 29.625 dlrs a share to give it ownership of 35 pct of the\noutstanding stock.\n    Dynamics said the price of stock under the option,\nexercisable for one year, is based on the average closing price\nfor the stock for the five days ending March two.\n    Dynamics said CTS Chairman George F. Sommer will assume the\nadditional title of President. Former President Robert D.\nHostetler is resigning as a director, as is Chief Financial\nOfficer Gary B. Erekson, Ted Ross and Donald J. Kacek.\n    Dynamics said the CTS board will be reduced to seven\nmembers for eight with the remaining four members of the\ncurrent board and three representatives of Dynamics as new\ndirectors.\n Reuter\n&#3;',0
'RENEWAL OF U.S./USSR GRAIN PACT SAID UNCERTAIN Prospects for renewal of the\nfive-year U.S./USSR grains agreement are uncertain at this\npoint, a Soviet trade official told Reuters.\n    The current trade imbalance between the United States and\nthe Soviet Union, high U.S. commodity prices, and increased\nworld grain production make a renewal of the supply agreement\nnext year less certain, Albert Melnikov, deputy trade\nrepresentative of the Soviet Union, said in an interview.\n    The current agreement expires on Sept 30, 1988.\n    Melnikov said that world grain markets are different than\nwhen the first agreement was signed in 1975.\n    Statements from both U.S. and Soviet officials have\nindicate that a long term grains agreement might not be as\nattractive for both sides as it once was.\n    \"We have had one agreement. We have had a second agreement,\nbut with the second agreement we\'ve had difficulties with\nprices,\" Melnikov said.\n    \"I cannot give you any forecasts in response to the future\nabout the agreement.... I do not want to speculate on what will\nhappen after Sept 30, 1988,\" he said.\n    Melnikov noted that he has seen no indications from Soviet\ngovernment officials that they would be pushing for a renewal\nof the agreement.\n    \"The situation is different in comparison to three, five or\nten years ago ... We can produce more,\" he said.\n Reuter\n&#3;',1
'DANAHER &lt;DHR> EXPECTS EARNINGS INCREASE IN 1987 Danaher Corp said it expects higher\nearnings in 1987 versus 1986.\n    \"We expect significant increases in earnings and revenues\nin 1987,\" Steven Rales, Danaher chairman and chief executive\nofficer, said.\n    Earlier, the company reported 1986 net earnings of 15.4 mln\ndlrs, or 1.51 dlrs a share, versus 13.5 mln dlrs, or 1.32 dlrs\na share, in 1985.\n    It also reported fourth quarter net of 7.3 mln dlrs, or 71\ncts a share, up from 4.4 mln dlrs, or 43 cts a share, in the\nprevious year\'s fourth quarter.\n Reuter\n&#3;',0
'DANAHER CORP &lt;DHR> 4TH QTR NET Shr 71 cts vs 43 cts\n    Net 7,274,000 vs 4,447,000\n    Rev 161.6 mln vs 77.6 mln\n    Year\n    Shr 1.51 dlrs vs 1.32 dlrs\n    Net 15,401,000 vs 13,525,000\n    Rev 454.0 mln vs 304.9 mln\n    NOTE: Fourth qtr net includes extraordinary gain of 3.8 mln\ndlrs, or 37 cts per share, versus 2.9 mln dlrs, or 28 cts a\nshare, in 1985\'s fourth qtr, and an extraordinary charge of\n642,000 dlrs, or six cts a share. 1986 net includes\nextraordinary gain of 7.4 mln dlrs, or 72 cts a share, versus\n8.0 mln dlrs, or 78 cts a share, in 1985.\n Reuter\n&#3;',0
'TWA &lt;TWA> MAKES MERGER OFFER FOR USAIR &lt;U> Trans World Airlines said it has\nproposed a cash merger of USAir Group with TWA in which the\nholders of USAir common would receive 52 dlrs in cash in\nexchange for their stock.\n    TWA said the offer was made in a letter to Edmin Colodny,\nchairman and president of USAir.\n    TWA said, however, that if the negotiated deal is not\nacceptable it may make an offer directly to USAir\'s\nshareholders for up to 51 pct of USAir\'s outstanding stock, to\nbe purchased in a voting trust at a price lower than today\'s\noffer.\n    TWA said it is filing an application with the Department of\nTransportation seeking approval of the merger as well as an\napplication for approval, on an expedited basis, of its\npurchase of up to 51 pct of USAir common and the deposit of the\nstock in a voting trust, pending DOT approval.\n    TWA said that in respect to USAir\'s recent offer for\nPiedmont Aviation &lt;PIE> it believes that USAir\'s shareholders\nwould prefer a cash merger proposal for USAir over its proposed\nacquisition of Piedmont.\n    TWA said, however, it also would be interested in\ndiscussing a three way deal among USAir, Piedmont and TWA.\n    TWA said the merger is subject to the USAir board redeeming\nthe preferred stock purchase rights (the poison pill) issued to\nshareholders last year and taking action so that the vote of a\nmajority of the outstanding common stock is required to approve\nits proposed move.\n    Additionally, TWA said it would need a satisfactory due\ndiligence review of USAir.\n    TWA said it has not yet had an opportunity to obtain the\nnecessary financing for the deal, but added it is confident\nthat it will get it.\n   \n Reuter\n&#3;',0
'CTS &lt;CTS> AND DYNAMICS &lt;DYA> REACH ACCORD CTS Corp and Dynamics Corp of\nAmerica reached an agreement resolving all outstanding\ndifferences between them, according to a joint statment.\n    As a result of the settlement, a special committee of the\nboard of directors of CTS stopped soliciting offers to buy all\nor part of the company, it said.\n    CTS and DCA also agreed to dismiss all pending litigation\nbetween the two companies except for one appeal pending before\nthe U.S. Supreme Court relating to the Indiana Control Share\nChapter, it said.\n    Under the agreement, the CTS board will immediately be\nreduced to seven from eight with four current directors and\nthree representatives of DCA being elected to the board, it\nsaid. This board will be presented as the slate for CTS\' 1987\nannual shareholders meeting, it added.\n    CTS\' directors will recommend to shareholders that they\napprove reimbursement to DCA of about 2.2 mln dlrs in expenses\nrelating to CTS, and grant DCA an option to buy up to 35 pct of\nCTS\' shares, it said.\n    In addition, DCA said it agreed to limit its ownership in\nCTS for the year following the 1987 annual meeting to not more\nthan 35 pct of the outstanding stock. DCA currently holds 27.5\npct of the outstanding shares of CTS.\n    Both companies said they support the agreement and believe\nit to be fair to both sides.\n   \n Reuter\n&#3;',0
'MEASUREX &lt;MX> SELLS SOUTH AFRICAN UNIT Measurex Corp said it\ncompleted the sale of its Measurex (South Africa Pty)\nsubsidiary to a group of employees who manage the operation.\n    Measurex, a maker of computer integrated manufacturing\nsystems, said the subsidiary represented less than one pct of\nworldwide revenues and the sale will have no impact on this\nyear\'s earnings.\n Reuter\n&#3;',0
'JEFFERIES MAKING MARKET IN USAIR &lt;U> Jefferies and Co said it is making a\nmarket in the stock of USAir Group Inc at 48-1/2 to 50.\n    USAir received an offer from Trans world airlines to buy\nthe airline at 52 dlrs cash per share.\n    USAir was halted on the New York Stock EXcahnge for\ndissemination of the news. It was indicated at 47 to 54.\n Reuter\n&#3;',0
'TRANS-LUX &lt;TLX> SETS FIVE PCT STOCK DIVIDEND Trans-Lux Corp said its board\ndeclared a five pct stock dividend payable April nine to\nholders of record March 20.\n    The company said directors also declared regular quarterly\ndividends on presently outstanding shares of both classes of\ncommon, payable April nine to holders of record March 16.\n    It said an unchanged dividend of two cts will be paid on\nthe common and 1.8 cts on the Class B stock.\n Reuter\n&#3;',0
'KANEB ENERGY PARTNERS LTD &lt;KEP> 4TH QTR LOSS Shr loss one cent\n    Net loss 186,000\n    Revs 10.7 mln\n    11 mths\n    Shr loss 7.26 dlrs\n    Net loss 121.4 mln\n    Revs 46.9 mln\n    NOTE: In February 1986, Kaneb Services Inc contributed all\nof its domestic oil and gas operations to Kaneb Partners, which\nwas newly formed, and exchanged approximately 3,200,000\ndepositary units respresenting limited partnership interests in\nKEP for approximately 6,400,000 million shares of the\noutstanding common stock of Kaneb Servies Inc. Kaneb now owns\napproximately 82 pct of KEP.\n    During the 11 mths of operation, the partnership wrote down\nthe carrying value of its oil and gas properties by 124.8 mln\ndlrs. The write downs reduced income by 7.46 dlrs per limited\npartnership unit.\n   \n Reuter\n&#3;',0
'DALTON COMMUNICATIONS INC &lt;DALT> 3RD QTR JAN 31 Shr profit three cts vs loss two cts\n    net profit 157,500 vs loss 60,200\n    Revs 1.1 mln vs 1.0 mln\n    Nine months\n    Shr profit five cts vs profit six cts\n    Net profit 223,400 vs profit 260,800\n    Revs 3.2 mln vs 3.1 mln\n Reuter\n&#3;',0
' &#2;\n(CORRECTION) - SHAW\'S SUPERMARKETS EARNINGS\n    In item headlined \"SHAW\'S SUPERMARKETS INC &lt;SHAW> YEAR JAN\n3\" please read per share earnings 1.33 drs vs 1.23 dlrs,\ncorrecting order of results.\n Reuter\n&#3;\n\n',0
'WTD INDUSTRIES INC &lt;WTDI> 3RD QTR JAN 31 NET Shr profit 13 cts vs loss one ct\n    Net profit 853,000 vs loss 22,000\n    Sales 41.1 mln vs 20.3 mln\n    Avg shrs 6,349,753 vs 4,403,852\n    Nine Mths\n    Shr profit 57 cts vs profit 28 cts\n    Net profit 2,869,000 vs profit 1,252,000\n    Sales 119.0 mln vs 67.6 mln\n    Avg shrs 5,054,844 vs 4,403,852\n Reuter\n&#3;',0
'HEALTHVEST &lt;HVT> SELLS SHARES Healthvest, a Maryland real estate\ninvestment trust, said it began selling five mln shares of\ncommon stock at 21 dlrs a share.\n    The company said it is also selling 543,237 shares to\nHealthcare International Inc &lt;HII>, giving the company a 9.8\npct stake in Healthvest.\n Reuter\n&#3;',0
'CACEX DENIES BRAZIL FCOJ PRICE RISE RUMOURS There has been no rise in the\nprice of Frozen Concentrated Orange Juice, FCOJ, a spokesman\nfor the Banco do Brasil\'s Foreign Trade Department, Cacex,\nsaid.\n    He was responding to rumours in the international market\nthat Brazil had raised its FCOJ prices in range of 1,075 to\n1,150 dlrs per tonne.\n Reuter\n&#3;',0
'E-SYSTEMS &lt;ESY> SETS QTRLY PAYOUT Qtrly div 12.5 cts vs 12.5 cts prior\n    Pay April 1\n    Record March 13\n Reuter\n&#3;',0
'PIEDMONT MANAGEMENT CO INC &lt;PMAN> 4TH QTR Shr 70 cts vs 4.91 dlrs\n    Net 3.7 mln vs 26.3 mln\n    Year\n    Shr 1.99 dlrs vs 3.35 dlrs\n    Net 10.7 mln vs 18.0 mln\n    NOTE:1986 year, 4th qtr include capital gains of 3.5 mln\ndlrs and 1.1 mln dlrs, respectively and extraordinary gain of\n3.4 mln dlrs and 1.2 mln dlrs respectively. 1985 year and 4th\nqtr include capital gains of 24.0 mln dlrs and 23.3 mln dlrs\nrespectively and extraordinary gain of 3.9 mln dlrs.\n        \n Reuter\n&#3;',0
'EASTPARK REALTY TRUST &lt;ERT> 4TH QTR NET Shr 1.52 dlrs vs 17 cts\n    Net 1,306,000 vs 144,000\n    Rev 758,000 vs 670,000\n    Year\n    Shr 2.68 dlrs vs 2.63 dlrs\n    Net 2,313,000 vs 2,285,000\n    Rev 2.8 mln vs 2.7 mln\n    NOTE: Fourth qtr and 1986 had gains on real estate\ninvestments of 933,000 dlrs, or 1.08 a share, and 970,000 dlrs,\nor 1.12 a share, respectively.\n    This compares with a loss of 137,000 dlrs, or 15 cts a\nshare, and again of 1.3 mln dlrs, or 1.45 a share, for the\nfourth qtr and year respectively in 1985.\n Reuter\n&#3;',0
'NL INDUSTRIES INC &lt;NL> SETS QTRLY PAYOUT Qtrly div five cts vs five cts qtr\n    Pay April One\n    Record  March 16\n Reuter\n&#3;',0
'WTD INDUSTRIES INC &lt;WTDI> 3RD QTR JAN 31 NET Shr profit 13 cts vs loss one ct\n    Net profit 853,000 vs loss 22,000\n    Revs 41.1 mln vs 20.3 mln\n    Avg shrs 6,349,753 vs 4,403,852\n    Nine mths\n    Shr profit 57 cts vs profit 28 cts\n    Net profit 2,869,000 vs profit 1,252,000\n    Revs 119.0 mln vs 67.6 mln\n    Avg shrs 5,054,844 vs 4,403,000\n    Note: Company went public in October 1986.\n Reuter\n&#3;',0
'ALASKA AIR GROUP INC &lt;ALK> QTLY DIVIDEND Shr four cts vs four cts prior qtr\n    Pay May five\n    Record April 15\n Reuter\n&#3;',0
'USAIR &lt;U> HAS NO COMMENT ON TWA &lt;TWA> OFFER USAir Group Inc said it had no comment\non an offer it received from Trans World Airlines to buy USAir\nfor 52 dlrs cash per share.\n    USAir spokesman David Shipley also declined comment on\nPiedmont Aviation Inc &lt;PIE>. USAir has offered 71 dlrs cash per\nshare for half of Piedmont\'s stock, and 73 dlrs in its own\nstock for the balance.\n    Piedmont also received an offer from Norfolk Southern Corp\n&lt;NSC> of 65 dlrs cash per share. Piedmont\'s board was meeting\ntoday, but the company declined to say what was on the agenda.\nA spokesman said he could not comment on the twa action.\n    A Norfolk Southern Corp &lt;NSC> spokesman said the company\nhad no comment on TWA\'s offer for USAir or on its proposal to\nnegotiate a three-way merger between TWA, USAir and Piedmont.\n    \"We don\'t have all the details,\" a Norfolk Southern\nspokesman said. The company\'s 65 dlr-a-share cash offer for\nPiedmont stands, he said.\n    In its offer, TWA said as an alternative to a merger with\nUSAir, it would be interested in discussing a three-way\ncombination among USAir, Piedmont and TWA. It said the\nthree-way merger would serve the best interests of the\nshareholders of all three companies, employees and consumers.\n Reuter\n&#3;',0
'MORE PRESSURE URGED FOR ASIA TO TAKE U.S. BEEF Congressmen from beef producing\nstates and representatives of the U.S. livestock industry \nurged the Reagan administration to press Japan and South Korea\nto open up their markets to imports of beef.\n    Testifying at a House subcommittee hearing on livestock\nissues, Rep. Hal Daub (R-Nebr.), said the administration should\npush hard for greater beef imports by Japan and South Korea.\nDaub was joined by several other lawmakers.\n    U.S. assistant trade representative Suzanne Earley, replied\n\"we\'re not going to let Japan off the hook, or Korea.\" She\nnoted trade representative Clayton Yeutter met with a senior\nKorean official last week on the beef issue, and that Yeutter\nand Agriculture Secretary Richard Lyng will visit Tokyo in\nApril for discussions on farm trade issues.\n    Japan maintains a quota on beef imports, set at 58,400\ntonnes high quality beef in fiscal 1987. South Korea has banned\nbeef imports but there are indications Seoul may bow to U.S.\npressure and allow some imports soon, industry officials said.\n    In testimony today, Tom Cook, director of industry affairs\nfor the National Cattlemens Association said \"the Congress,\nadministration and the industry must take a strong, tough and\nunited stand to impress the Japanese that we mean business and\nthat we expect them to open their markets.\"\n Reuter\n&#3;',0
'SOUTH AFRICAN FOREIGN RESERVES UP SHARPLY IN FEB South Africa\'s total gold and\nforeign assets rose by 700 mln rand in February to 6.2 billion\nrand after rising by almost one billion rand in January,\nReserve Bank Governor Gerhard de Kock said.\n    De Kock, interviewed on state-run television, gave no\nbreakdown of the reserves.\n    He also said that to curb inflation, salary increases would\nhave to be below the inflation rate. The state must set an\nexample by keeping wage increases below the inflation rate, he\nsaid.\n    Consumer prices rose by 16.1 pct in the year to January.\n Reuter\n&#3;',0
'MORE SOVIET GRAIN BUYING FROM U.S. TIED TO PRICE Whether the Soviet Union will fulfill\nits buying obligations under the U.S./USSR grains agreement\ndepends entirely on the United States, a Soviet trade official\ntold Reuters.\n    \"How can I tell that we are ready to fulfill the agreement\nif the United States does not want to offer us grain at\ncompetitive prices?\" said Albert Melnikov, deputy trade\nrepresentative of the Soviet Union to the United States.\n    \"We are in the market for grains, but it is up to the\nUnited States to be the seller ... to offer Soviets competitive\nprices,\" he said in an interview.\n    Melnikov said that the United States has not lived up the\nagreement by failing to make available to Moscow U.S. grain at\nprevailing market prices.\n    \"We are being accused of not implementing this agreement.\nWe do not consider we are at fault,\" Melnikov said.\n    Article I in the agreement states that \"purchases/sales of\ncommodities under this Agreement will be made at the market\nprice prevailing for these products at the time of\npurchase/sale and in accordance with normal commercial terms.\"\n    \"The United States should supply to the Soviet Union\ndefinite quantities of grain at competitive prices ... Is the\nUnited States ready to supply this?\" he said.\n    The Soviet official said that near-term corn demand has\nbeen met by the recent Soviet purchases of U.S. corn, which he\nconfirmed at 1.5 mln tonnes, but said that if U.S. corn prices\nremain competitive, the Soviets will buy more if they need it.\n    Wheat buying, however, is a different story, Melnikov said.\n    \"If the United States is interested in selling its wheat,\nthen they must offer competitive prices, and it\'s up to the\nUnited States to decide how these competitive prices will be\noffered,\" he said.\n    Last year\'s U.S. offer of subsidized wheat to the Soviets\nwas rejected because of an insufficient subsidy, Melnikov said.\nHe said that at the time of the 13 dlr per tonne subsidy offer,\nU.S. wheat prices were 26 dlrs over world levels.\n Reuter\n&#3;',1
'LEASEWAY TRANSPORTATION CORP &lt;LTC> QTLY DIV Qtly div 37.5 cts vs 37.5 cts prior\n    Pay April eight\n    Record March 16\n Reuter\n&#3;',0
'PERU SUGAR HARVEST SEEN LOWER -- USDA Sugar production in Peru for the\n1986/87 season has been revised to 593,000 tonnes (raw value),\ndown 10 pct from the previous forecast and 21 pct below the\n1985/86 harvest, the U.S. Agriculture Department said in its\nWorld Production and Trade Report.\n    It said while rains in the northern mountain region are\nimproving the supply of irrigation water, the major benefits\nwill not occur until the 1987/88 season.\n Reuter\n&#3;',0
'ITEL &lt;ITEL> GETS FINANCING FOR ANIXTER BUY Itel Corp said it obtained commitments\nfrom a syndicate of banks for a six-year secured loan of about\n325 mln dlrs and had separately filed registration statements\nfor two public offerings for a total of 150 mln dlrs to fund\nits December 1986 acquisition of &lt;Anixter Bros Inc>.\n    It said one of the offerings will be a new 75 mln dlrs\nissue of convertible exchangeable series C preferred and the\nother will be a 75 mln dlr issue of seven-year senior\nsubordinated notes. Both offerings will be through Merrill\nLynch Capital Markets.\n    It said a portion of the proceeds from the offerings,\ntogether with the proceeds form the new bank loan, wll be used\nto repay the 395 mln dlr bridge loan Merrill Lynch and Co Inc\n&lt;MER> provided for Itel to buy Anixter.\n    Itel said the banks it obtained commitments from include\nManufacturers Hanover Trust Co &lt;MHC>, &lt;Chemical Bank of New\n&lt;York>, and the &lt;First National Bank of Chicago>.\n Reuter\n&#3;',0
'GREAT AMERICAN &lt;GTA> GAINS OVER 80 MLN IN LOANS Great American First Savings Bank said\nthe bank recorded gains exceeding 80 mln dlrs on sales of loans\nand mortgage securities valued at 1.1 billion dlrs.\n    The San Diego-based bank said in a prepared release of its\nreport to analysts here that the gains included 6.6 mln dlrs in\narbitrage profits from the premium paid for the separation of\ninterest and principal components of new Federal National\nMortgage Association strip securities.\n    The bank said it reported a profit of more than 20 mln dlrs\non the transaction, involving 390 mln dlrs of FNMA securities,\nincluding the arbitrage gain.\n    Great American recently announced plans to acquire &lt;Capital\nSavings Bank>, Olympia, Wash., and last year acquired &lt;Home\nFederal Savings and Loan Association>, Tucson, Ariz., and &lt;Los\nAngeles Federal Savings Bank>, which resulted in 66 new offices\nand three billion dlrs in assets.\n    The bank also said it plans to expand into other major\nwestern banking markets and is considering an acquisition in\nColorado.\n Reuter\n&#3;',0
'TANDY BRANDS &lt;TAB> SELLS UNIT Tandy Brands Inc said it sold\nits Grate Home and Fireplace division to an investor group that\nincludes some members of Grate\'s management for 1,600,000 dlrs\nin cash and secured notes.\n    The company said the sale will not materially offset the\n9,848,000 dlr non-recurring charge it took against the sale of\nthe division.\n Reuter\n&#3;',0
'AMERICAN FARM BUREAU OPPOSES FARM BILL CHANGES The directors of the American Farm\nBureau, the nation\'s largest farm organization, voted Tuesday\nto urge Congress to leave the 1985 farm bill in place without\nalterations.\n    \"We are solidly opposed to opening up the 1985 farm bill,\"\nsaid Dean Kleckner, president. \"The current farm bill has been\nin place for just a little over a year and in our judgment\nthere is more to be gained at the present time from maintaining\nthe legislation.\n    \"Several independent studies ... indicate the 1985 farm\nbill is better on balance than any of the alternatives being\nadvanced,\" Kleckner said.\n    The Farm Bureau also urged Agriculture Secretary Richard\nLyng to adjust the loan rate for 1987 crop soybeans as much as\nhe deems possible under the farm bill to keep soybeans\ncompetitive in the world market.\n    A Farm Bureau proposal suggests that producers should be\neligible for supplemental payments in the form of PIK\ncertificates for the difference between 5.02 dlrs a bushel and\nthe new loan rate.\n    The organization also urged Lyng to authorize deficiency\npayments to farmers who were unable to plant 1987 winter wheat\nbecause of adverse weather.\n Reuter\n&#3;',1
'BROWING-FERRIS &lt;BFI> DECLARES 2-FOR-1 SPLIT Browning-Ferris Industires Inc said its\nboard declared a two-for-one stock split payable April 24 to\nholders of record March 31.\n     \n Reuter\n&#3;',0
'PENNWALT CORP &lt;PSM> QTLY DIVIDEND Qtly div 55 cts vs 55 cts prior\n    Payable May one\n    Record April three\n Reuter\n&#3;',0
'BANNER INDUSTRIES INC &lt;BNR> COMPLETES PURCHASE Banner Industries Inc said it completed\nthe purchase of all Rexnord Inc &lt;REX> common shares for its\n26.25 dlrs per share cash tender offer that ended Feb\n27, 1987.\n    The purchase follows Banner receiving earlier today 310 mln\ndlrs under a credit agreement with Citicorp Industries Credit\nInc and the Bank of Nova Scotia, and an additional 260 mln dlrs\nfrom offerings made for Banner and its subsidiary through\nDrexel Burnham and Lambert.\n    As a result of the tender offer, Banner said it will own\napproximately 96 pct of the outstanding shares of Rexnord. The\ncompany said a merger of Rexnord and a subsidiary of Banner\nwill be completed before mid-May.\n Reuter\n&#3;',0
'MURPHY RAISES CRUDE OIL POSTED PRICES ONE DLR/BBL. WTI TO 17.00 DLRS TODAY\n ',0
'PHOENIX STEEL RECEIVES OFFER FOR CLAYMONT MILL &lt;Phoenix Steel Corp> said a group\nof investors offered to buy its Clayton steel plate mill for\neight mln dlrs and the assumption of a bond obligation.\n   Phoenix did not disclose the indentity of the investors.\n    Phoenix was forced to close the Clayton mill last month.\n    The company said the offer represents a major step in\nrestructuring the company.\n Reuter\n&#3;',0
'KEANE INC &lt;KEAN> 4TH QTR Shr 17 cts vs 15 cts\n    Net 229,000 vs 201,000\n    revs 10.5 mln vs 9.9 mln\n    Year\n    Shr 21 cts vs 55 cts\n    Net 283,000 vs 766,000\n    Revs 40.4 mn vs 39.7 mln\n    NOTE:1985 shares adjusted to reflect the distribution of\none share of Class B common stock for every two shares of\ncommon stock held of record as of July 1, 1986.\n Reuter\n&#3;',0
'VIACOM &lt;VIA> MERGER EXPECTED IN 60 TO 90 DAYS Sumner Redstone, president of National\nAmusements, Inc, predicted he can win regulatory approvals to\nwrap up the 3.4 billion dlr acquisition of Viacom International\nInc in 60 to 90 days.\n    Redstone, 63, catapulted himself into the big leagues of\nentertainment early today when a group of Viacom managers and\ntheir financial backers decided not to top National\'s bid.\n    \"We\'ve had counsel working for some time in every region\nwhere Viacom has cable televison systems\" Redstone told Reuters\nin a telephone interview.\n    Redstone also said \"Viacom is committed to working very\nclosely with us to obtain approvals.\" Viacom has been seeking\napprovals for transfer of its broadcast licenses and cable\nsystems since September when its management group first\nadvanced a buyout plan.\n    But Redstone turned the situation into a spirited bidding\ncontest which was capped by the announcement this morning that\nViacom\'s independent directors on behalf of Viacom entered into\na defintive merger agreement with National.\n    National is a family business which operates a chain of\nmovie theaters. It is dwarfed by Viacom.\n    Redstone said he was weary after talks dragged on through\nthe night but also excited at the prospect of running a leading\nelectronic media company. He noted that the number of motion\npicture admissions in the U.S. has shown no growth in 15 years.\n    Of nine satellite television channels operated by Viacom,\nfour are motion-picture oriented pay channels. Redstone said\nexclusive contracts with pay television networks are the\nemerging trend. \"Up until recently you could see any motion\npicture on any pay channel,\" Redstone said.\n    He noted Viacom has exclusive agreements with two studios\nand plans to sign a deal with a third company next month.\n    Redstone said the management group\'s investment bankers\nwill be paid what is due for termination of its merger\nagreement. Such fees could total about 30 mln dlrs. \"That will\nbe a company expense,\" Redstone said.\n    He said BankAmerica &lt;BAC> Corp has had numerous inquiries\nfrom lenders who want to participate in a 2.25 billion dlr\nfinancing for the deal. BankAmerica will provide 592 mln dlrs.\n    After the merger, Viacom will be a subsidiary of National\nbut 17 pct of the company will be in public hands.\n Reuter\n&#3;',0
'BRITISH AIDE CRITICIZES U.S.PROTECTIONISM A senior British official said that\nprotectionist bills being considered by Congress could trigger\nretaliation by the European Community (EEC) and threaten the\nglobal trading system.\n    Paul Channon, secretary for trade and industry, said if\nCongress passed legislation to curb textile imports, which\nwould hit EC shipments as well as shipments from major Asian\ntextile producers, \"the community would have to retaliate.\"\n    His comments echoed those made yesterday by Belgian Trade\nMinister Herman De Croo, who said if the bill passed, the\ncommunity would retaliate by imposing taxes on U.S. exports.\n    Channon made his remarks at a news conference after two\ndays of talks with Reagan Administration officials and members\nof Congress.\n    De Croo was also in Washington for trade talks.\n    Channon said there was a greater protectionism sentiment in\nCongress since his visit here last year as Congress and the\nAdministration tried to find ways to reduce the U.S. trade\ndeficit, which last year hit a record 169.8 billion dlrs.\n    Channon also called for greater EC-U.S. cooperation to\nforce Japan to open its markets to foreign goods.\n    Channon said Japan\'s trade surplus is causing everyone\nproblems - its surplus with the United States last year was\n51.5 billion dlrs and with EC nations, 16.7 billion dlrs.\n    \"The more united pressure there could be, the better,\" he\nsaid.\n    Channon also called for increased U.S.-EC cooperation to\navoid trade disputes.\n    He said the two sides narrowly avoided a confrontation\nearlier this year over lost grains sales when Spain and\nPortugal joined the community and its liberal imports\nregulations were tightened to conform to EC standards.\n    \"But if both sides drew back from the brink that time,\" he\nsaid, \"\"it does not mean that they would do so on another\noccasion.\"\n    Channon added that \"There is increasing reesentment in\nEurope over the U.S. tactic of negotiating under the pressure\nof unilaterally imposed deadlines.\"\n    He said other potential conflicts are already in sight -\nalleged European government subsidies of Airbus aircraft and\ntaxes on fats and oils - and \"the commuity and the United States\nmust therefore learn to manage their relations better.\"\n    He said another bill to let the United States retaliate\nagainst a nation if that nation\'s market was not open to U.S.\ngoods would bypass the trade pact GATT (General Agreeeement on\nTariffs and Trade) as an arbiter of trade practices.\n    He said foreign trade law should be judged by GATT and not\nby the United States, adding \"if the (trade) law is to be\ninterpreted by the United States and not by the GATT, what is\nto happen to the rest of us?\"\n   \n reuter\n&#3;',0
'YEUTTER SEEKS STRONGER TAIWAN, S.KOREA CURRENCIES U.S. Trade Representative Clayton\nYeutter said he hoped the U.S. dollar would continue to decline\nin relation to the currencies of Taiwan and South Korea as a\nway to improve the U.S. trade picture.\n    Testifying before the House Appropriations subcommittee\nwhich must approve his agency\'s 1988 budget, he said, \"In my\njudgment economic factors justify a continued decline.\"\n    Asked by a committee member if he expected a further\ndecline, and how much, Yeutter said the Taiwan and South Korean\ncurrencies should be adjusted to reflect \"positive factors\" in\ntheir economies.\n Reuter\n&#3;',0
'NL INDUSTRIES INC &lt;NL> SET REGULAR PAYOUT Qtly div five cts vs five cts prior\n    Pay March 31\n    Record March 16\n Reuter\n&#3;',0
'CHINA SUGAR OUTPUT SEEN LOWER -- USDA China\'s 1986/87 sugar crop has been\nrevised to 5.26 mln tonnes (raw value), down four pct from the\nprevious forecast and five pct below the previous season, the\nU.S. Agriculture Department said.\n    In its World Production and Trade Report, the department\nattributed the decline to relatively poor profitability of\nsugar, causing harvested area of cane and beets to decline\nseven pct from 1985/86.\n    Beet sugar production for 1986/87 is now estimated at\n837,000 tonnes, five pct less than earlier forecast and down\nfive pct from the previous season, while cane output is\nprojected at 4.423 mln tonnes, down four pct from previously\nforecast and five pct below the previous season, it said.\n Reuter\n&#3;',0
'GENERAL HOST &lt;GH> SEES YEAR LOSS General Host Corp said it will\nreport a loss from continuing operations and a sharp decline in\nnet income for the year ended January 25, 1987, due to\nsubstantial operating losses in its Frank\'s Nursery and Crafts\nunit. For the year ended January 25, 1986, General reported net\nincome of 29.7 mln dlrs.\n    The company said it discovered problems in its unit\'s\ncomputerized accounts payable system. It said results of its\nother nursery and craft unit, Flower Time Inc, are not\naffected. It said its accountants are investigating the\nproblem, which will delay release of its full-year results.\n Reuter\n&#3;',0
'MEDTRONIC INC &lt;MDT> SETS PAYOUT Qtly dividend 22 cts vs 22 cts\n    Pay April 30\n    Record April 10\n Reuter\n&#3;',0
'LOUISVILLE GAS AND ELECTRIC CO &lt;LOU> DIVIDEND Qtly dividend 65 cts vs 65 cts\n    Pay April 15\n    Record March 31\n Reuter\n&#3;',0
'KAISER ALUMINUM &lt;KLU> RAISES PRODUCT PRICES Kaiser Aluminum and Chemical\nCorp said it is increasing prices for a broad range of common\nalloy coil, flat sheet and plate products.\n    The company said prices to distributors and direct\ncustomers on shipments of new orders placed March 4 and after\nwill be increased by four to eight cts per lb.\n    Kaiser said the increases are due to increased demand and\nthe need to set prices relative to the cost of primary\naluminum.\n Reuter\n&#3;',0
'ROBERTSON UPS CAPITAL WIRE&lt;CWCC> STAKE TO 12 PCT New York investor Julian Robertson\nand several investment partnerships he controls said they\nraised their stake in Capital Wire and Cable Corp to 481,800\nshares, or 12.2 pct of the total, from 430,200, or 10.9 pct.\n    In a filing with the Securities and Exchange Commission\nRobertson and his Tiger, Jaguar, Puma and Tiger Management Co\nentities said they bought 51,600 Capital Wire common shares\nbetween Feb 3 and 17 at 13.25 dlrs a share.\n    Robertson said his group has spent a total of 5.9 mln dlrs\non its investment in the company so far.\n Reuter\n&#3;',0
'TWA &lt;TWA> TANGLES PIEDMONT &lt;PIE> SITUATION Trans World Airlines Inc complicated\nthe bidding for Piedmont Aviation Inc by offering either to buy\nPiedmont suitor USAir Group or, alternatively, to merge with\nPiedmont and USAir.\n    Piedmont\'s board was meeting today, and Wall Street\nspeculated the board was discussing opposing bids from Norfolk\nSouthern Corp and USAir. The TWA offer was announced shortly\nafter the Piedmont board meeting was scheduled to begin.\n    TWA offered to buy USAir for 52 dlrs cash per share. It\nalso said it was the largest shareholder of USAir and\nthreatened to go directly to USAir shareholders with an offer\nfor 51 pct of the stock at a lower price.\n    TWA also said it believed its offer was a better deal for\nUSAir shareholders than an acquisition of Piedmont, but it said\nit alternatively would discuss a three-way combination of the\nairlines.\n    Market sources and analysts speculated that TWA chairman\nCarl Icahn made the offer in order to put his own airline into\nthe takeover arena.\n    \"We\'re just wondering if he\'s not just trying to get TWA\ninto play. There\'s speculation on the street he just wants to\nmove onto somthing else,\" said one arbitrager. \"We think TWA\nmight just be putting up a trial balloon.\"\n    Analysts said the offer must be taken seriously by USAir,\nbut that the airline will probably reject it because the price\nis relatively low compared to other airline deals.\n    They also said Icahn must prove his offer credible by\nrevealing financing arrangements. \"They need to show their\ncommitment and their ability to finance. I think it\'s a\ncredible offer,\" said Timothy Pettee, a Bear Stearns analyst.\n    \"I think it\'s certainly on the low end of relative values\nof airline deals,\" said Pettee. Pettee estimated 58 dlrs would\nbe in a more reasonable range based on other airline mergers.\n    USAir stock soared after TWA made public its offer. A\nspokesman for USAir declined comment, and said USAir had not\nchanged its offer for Piedmont. USAir offered of buy 50 pct of\nthat airline\'s stock for 71 dlrs cash per share and the balance\nfor 73 dlrs per share in USAir stock.\n    USAir closed up 5-3/8 at 49-1/8 on volume of 1.9 mln\nshares.\n    Piedmont, which slipped 1/2 to close at 69-5/8, also\nremained silent on the TWA action. Piedmont has an outstanding\n65 dlr cash per share offer from Norfolk Southern Corp.\n    Norfolk Southern declined comment, but said it stuck with\nits offer for Piedmont. Norfolk owns about 20 pct of Piedmont\nand opened the bidding when it said it would propose a takeover\nof Piedmont.\n    Some analysts said Icahn may be trying to acquire USAir to\nmake his own airline a more attractive takeover target.\n    \"Icahn I think had wanted to sell his airline and there\nwere no takers. I think the strategy might have called for\nmaking his investment more attractive. One way to accomplish\nthat specific objective is to go out and acquire other\nairlines,\" said Andrew Kim of Eberstadt Fleming.\n    \"I don\'t know whose going to buy them, but at least this\nway it becomes a much more viable package,\" said Kim.\n    But Icahn\'s financing ability for such a transaction\nremains in doubt, in part because of TWA\'s heavy debt load.\n    Wall street sources said TWA has some cash with which to do\nthe offer.\n    The sources said Icahn has not lined up outside financial\nadvisers and plans to make his own arrangements.\n   Icahn earlier this year abandoned plans to buy USX Corp &lt;X>\nand still retains 11 pct of that company\'s stock.\n    Some Wall street sources said the financier\'s USX plan was\nimpacted by the cloud hanging over his adviser, Drexel Burnham\nLambert Inc, because of Wall Street\'s insider trading scandal.\n    Industry sources also predicted USAir might reject the TWA\noffer on price and financing concerns. \"It\'s littered with\ncontingencies and it doesn\'t even have a financing\narrangement,\" said one executive at another major airline.\n    But the executive conceded a merged TWA-USAir would be a\nstrong contender with USAir\'s east coast route system and\nplanned west coast presence from PSA. USAir could feed the\nintenrational flights of TWA, which has a midwest presence in\nits St. Louis hub. Adding Piedmont, dominant in the southeast,\nto the mix would develop an even stronger force.\n    The combined entity would also have TWA\'s pars reservation\nsystem.\n    Such a merger would be complex and analysts said it would\nresult in an airline iwth an 18 pct market share.\n   \n Reuter\n&#3;',0
'FOREST OIL CORP &lt;FOIL> 4TH QTR Shr loss 29 cts vs profit eight cts\n    Net loss 2.0 mln vs profit 568,000\n    year\n    Shr loss 1.37 dlrs vs profit 88 cts\n    Net loss 9.3 mln vs profit 6.0 mln\n Reuter\n&#3;',0
'YEUTTER PLANS TRADE TRIP TO CHINA THIS SUMMER U.S. Trade Representative Clayton\nYeutter said he plans a July trip to China to discuss trade\nissues including China\'s admission to the General Agreements on\nTariffs and Trade.\n    Yeutter told a congressional hearing it was possible China\ncould be a member of GATT before the end of the year.\n    \"They are making major moves to becoming a full scale member\nof the world economy,\" he told the House Appropriations\nsubcommittee which oversees his agency\'s budget.\n    Depending on how the negotiations go on the terms of\nChina\'s GATT membership, Yeutter said he could put the final\ntouches on the U.S. part of the agreement during his trip.    \nThe admission of China to GATT, which is the multinational\ngroup of nations which negotiates international rules on trade,\nwould offer both potential export markets and potential\ncompetition for U.S. industries, he said.\n    \"That has a lot of potential as well as risks for U.S.\nbusiness,\" Yeutter said.\n    \"I think China will develop into a fine market for us,\" he\nadded.\n Reuter\n&#3;',0
'RIO COFFEE TRADE PREFERS NO PACT TO QUOTA CUT The failure of talks to introduce\nnew coffee export quotas within the International Coffee\nAgreement, ICA, was preferable to the alternative of Brazil\nhaving a sharply reduced quota, as had been proposed, President\nof the Rio de Janeiro Coffee Trade Association Carlos Calmon\nsaid.\n    He told Reuters proposals to reduce Brazil\'s quota to 25\npct of the world share from 30 pct at present were unacceptable\nas the country has large stocks and a good harvest is expected.\n    \"Brazil has the capacity to export 20 mln bags this year,\"\nCalmon added.\n    Calmon said, assuming a 58 mln bag global ICA quota,\nBrazil\'s share under the proposals would have been 14.5 mln\nbags, of which soluble would have accounted for 2.0 mln,\nleaving just 12.5 mln bags of green coffee for export.\n    \"It\'s a pity the talks broke down, but for Brazil this was\nbetter than such a quota reduction,\" he added.\n    In 1985 Brazil exported 19.6 mln bags of soluble and green\ncoffee, including about two mln bags to non-members. A severe\ndrought and marketing problems cut exports last year to under\n10 mln bags.\n    Calmon estimated stocks as of January 1 at 18 mln bags, of\nwhich 5.0 mln have already been sold for export. The harvest\nthis year should be around 30 mln bags, he added.\n    The latest Brazilian Coffee Institute estimate for last\nyear\'s harvest is 11.2 mln bags, although many traders believe\nit was higher than this.\n Reuter\n&#3;',0
'ISRAEL TENDERS TONIGHT FOR CORN AND/OR SORGHUM Israel will tender overnight for\n33,000 long tons of U.S. sorghum and/or 22,000 long tons of\nU.S. corn for April shipment, private export sources said.\n Reuter\n&#3;',1
'U.S. CABINET COUNCIL SET TO MULL FARM ISSUES The Reagan administration\'s\ncabinet-level Economic Policy Council is scheduled to meet\nFriday to discuss, among other issues, the status of\nagricultural legislation, administration officials said.\n    The officials said discussion of a U.S. Agriculture\nDepartment wheat export subsidy to the Soviet Union was not on\nthe agenda. Matters not on the agenda, however, can be brought\nbefore the council, the officials said.\n    Grain trade officials have speculated that USDA would make\na wheat export enhancement offer to Moscow, but USDA officials\nhave said the matter is not under active consideration.\n    USDA today transmitted to Congress a package of legislative\nproposals, including bills that would cut target prices and\nspeed up loan rate reductions.\n Reuter\n&#3;',1
'UNICORP AMERICAN CORP &lt;UAC> 4TH QTR NET Shr 13 cts vs 70 cts\n    Net 1,538,000 vs 8,614,000\n    Revs 16.4 mln vs 19.6 mln\n    12 mths\n    Shr 89 cts vs 2.43 dlrs\n    Net 10.3 mln vs 29.8 mln\n    Revs 56.2 mln vs 83.8 mln\n    Note: 1986 net is before preferred dividend payments and\nincludes after-tax gain from sale of real estate properties of\n12.9 mln dlrs.\n Reuter\n&#3;',0
'BANNER &lt;BNR> COMPLETES REXNORD SHARE PURCHASE Banner Industries Inc said it completed\nthe previously announced purchase of Rexnord Inc &lt;REX>. It said\nit owns 96 pct of Rexnord\'s outstanding following the purchase\nof all Rexnord\'s common validly tendered pursuant to its 26.25\ndlr per share cash tender offer ended February 27.\n    Banner also said it received 310 mln dlrs pursuant to a\ncredit agreement with &lt;Citicorp Industrial Credit Inc> and the\n&lt;Bank of Nova Scotia> and 260 mln dlrs from an offering made\nthrough Drexel Burnham Lambert Inc.\n    The merger of Rexnord with a subsidiary of Banner will be\ncopmleted before mid-May, the company said.\n Reuter\n&#3;',0
'U.S. REAFFIRMS OPPOSITION TO EC OILS TAX PLAN A meeting among government agencies\ntoday reaffirmed the strong opposition of the United States to\na proposed new tax on vegetable oils and fats in the European\nCommunity, U.S. trade officials said.\n    Representatives of the major government agencies agreed at\na trade policy review group meeting, which includes officials\nof the deputy secretary rank, to continue diplomatic pressure\non EC member states.\n    \"We (all agencies) are together on this,\" said one U.S.\ntrade official.\n    One source said the U.S. would continue to make clear to\nmember states and to the EC commission that if Brussels\nproceeds with the vegetable oils tax \"there will be a great\ncost.\"\n    U.S. officials said no formal list of European products on\nwhich the U.S. might retaliate, has yet been drawn up.\n    \"I don\'t think we\'re at that point yet,\" said one trade\nofficial, adding that the EC has only begun deliberations on\nits farm price package.\n    Suzanne Early, assistant trade representative, told Reuters\nthe interagency meeting was to discuss U.S. strategy on the\nvegetable oils issue. Asked about retaliation, she said\n\"sometimes its better not to be specific.\"\n    U.S. trade representative Clayton Yeutter Monday warned\nanother major transatlantic trade row will develop if the EC\nproceeds with the vegetable oils tax.\n Reuter\n&#3;',0
'&lt;CCL INDUSTRIES INC> 4TH QTR NET Shr 15 cts vs 18 cts\n    Net 4,500,000 vs 5,300,000\n    Revs 156.7 mln vs 152.0 mln\n    YEAR\n    Shr 72 cts vs 1.11 dlrs\n    Net 21.7 mln vs 33.0 mln\n    Revs 695.4 mln vs 653.5 mln\n    Note: Shr profit relates to class B non-voting shares.\n Reuter\n&#3;',0
'EIA SAYS DISTILLATE STOCKS OFF 3.4 MLN BBLS, GASOLINE OFF 100,000, CRUDE UP 3.2 MLN\n ',0
'(G.T.C. TRANSCONTINENTAL GROUP LTD) 1ST QTR NET Shr 11 cts vs nine cts\n    Net 2.1 mln vs 1.6 mln\n    Revs 60.8 mln vs 32.9 mln\n    Avg shrs 19.7 mln vs 17.2 mln\n    Note: period ended January 31.\nREUTER\n Reuter\n&#3;',0
'PIEDMONT AVIATION RECESSES MEETING WITHOUT TAKING ACTION ON MERGER PROPOSALS\n ',0
'EIA SAYS DISTILLATE, GAS STOCKS OFF IN WEEK Distillate fuel stocks held in\nprimary storage fell by 3.4 mln barrels in the week ended Feb\n27 to 128.4 mln barrels, the Energy Information Administration\n(EIA) said.\n    In its weekly petroleum status report, the Department of\nEnergy agency said gasoline stocks were off 100,000 barrels in\nthe week to 251.5 mln barrels and refinery crude oil stocks\nwere up 3.2 mln barrels to 333.0 mln.\n    The EIA said residual fuel stocks fell 2.2 mln barrels to\n37.9 mln barrels and crude oil stocks in the Strategic\nPetroleum Reserve (SPR) were up 700,000 barrels to 516.5 mln.\n    The total of all crude, refined product and SPR stocks were\nunchanged at 1,575.1 mln barrels, it said.\n Reuter\n&#3;',0
'CANADA CENTRAL BANK HEAD SEES MODERATE GROWTH Bank of Canada Governor John Crow said he\nexpects the Canadian economy will grow moderately in the coming\nyear, despite the near flat growth in the final quarter of\n1986.\n    \"We see moderate growth,\" Crow told a news conference\nfollowing presentation of the central bank\'s annual report in\nthe House of Commons today.\n    He said there were positive signs of growth in the economy,\nparticularly the drawdown of business inventories in the fourth\nquarter. Yesterday, Statistics Canada reported gross domestic\nproduct expanded a slight 0.2 pct in the quarter.\n    Crow reiterated the bank\'s previous statements that\ninflation remains a major priority in setting monetary policy\nand said only zero inflation would be acceptable. Canada\'s\ninflation rate is currently hovering around the four pct mark.\n    The governor said Canada\'s banking system remains sound\ndespite recent concern about exposure by the country\'s banks in\ndebt plagued countries such as Brazil.\n    \"It (the debt problem) is not a happy development but I\nthink it can be overplayed in terms of its impact,\" Crow told\nreporters.\n Reuter\n&#3;',0
'ALLIS-CHALMERS &lt;AH> PROPOSES RESTRUCTURING Allis-Chalmers Corp said it asked\nlenders and other groups to approve a restructuring plan that\nwould cause a dilution of the company\'s existing common stock.\n    The company said it would sell all of its businesses other\nthan the American Air Filter business, make a public financing\nof more than 100 mln dlrs and pay part of the currently\noutstanding debt with the proceeds.\n    Under the plan, which was presented to institutional\nlenders, the company\'s unions and the Pension Benefit Guaranty\nCorp, \"substantial amounts\" of institutional debt would be\nconverted to common stock of the restructured company.\n    Allis-Chalmers said it will exchange existing preferred\nstock for common. The exchange of the institutional debt and\npreferred stock for common equity will cause a \"resulting\ndilution of the existing common stock,\" Allis-Chalmers said in\na statement.\n    Under the plan, holders of existing common would hold about\n15 pct of the restructured common stock. Holders of existing\npreferred would hold about 35 pct of the new common.\n    Allis-Chalmers said its only alternative to the plan is\nbankruptcy. The restructuring must be approved by creditors,\ncommon and preferred holders,and present and former employees.\n    Allis-Chalmers said a bankruptcy filing \"appears to\nrepresent the company\'s only alternative if agreement upon the\nterms of the plan cannot be reached.\"\n    The spokesman said in response to an inquiry that he was\nnot aware of any extraordinary charge against earnings that\nwould result from the restructuring.\n    \"It is too early to talk about a charge\" because the plan\nmust still be approved by the lenders and unions, he said.\n    Also under the plan, payments to Allis-Chalmers\' private\nlenders would be deferred. Trade payables and obligations\nincurred in the ordinary course of business will be met.\n    Payment of health benefits for active and retired employees\nwould be made \"at substantially reduced levels.\"\n    Allis-Chalmers, once one of the leading farm equipment\ncompanies, sold all of its farm equipment operations to Deutz\nof West Germany for 107 mln dlrs, leaving the company with\nbusinesses in lift trucks, air conditioning, fluids handling\nand solid materials processing.\n    Last year, Allis-Chalmers sold the lift truck business to\nAC Material Handling Co of Columbus, Ohio.\n    Under the restructuring plan, Allis-Chalmers will sell its\nsolid materials processing and fluids handling businesses.\nSolid materials processing, which makes equipment to crush\nstones for highway construction, accounted for 288 mln dlrs of\nAllis-Chalmers\'s total 1985 revenues of 886 mln dlrs.\n    The company will also sell its fluids handling operations,\nwhich makes pumps and valves. That business accounted for 196\nmln dlrs of the company\'s 1985 revenues.\n    Allis-Chalmers in 1986 reported a net loss of 8.6 mln dlrs,\nor 1.09 dlrs a share. In 1985, the company lost 168.4 mln dlrs,\nor 12.27 dlrs a share.\n    The company\'s last profit was in 1980, when it earned 52.4\nmln dlrs on sales of 2.1 billion dlrs.\n   \n Reuter\n&#3;',0
'AMVESTORS FINANCIAL CORP &lt;AVFC> 4TH QTR NET Oper shr profit 11 cts vs loss 27 cts\n    Oper net profit 662,625 vs loss 774,002\n    Revs 43.9 mln vs 18.4 mln\n    Year\n    Oper shr profit 37 cts vs loss 37 cts\n    Oper net profit 1,487,796 vs loss 1,119,626\n    Revs 150.1 mln vs 51.7 mln\n    NOTE: 1986 4th qtr and yr oper net excludes 6,134 dlrs and\n720,500 dlrs or 20 cts per share, respectively, for realized\ninvestment gains.\n    1986 qtr and yr oper net also excludes 102,300 dlrs and\n257,300 dlrs, respectively, for tax loss carryforwards.\n    1985 4th qtr and yr oper net excludes realized investment\ngains of 449,920 dlrs or 15 cts per share and 897,949 dlrs or\n30 cts per share, respectively.\n    1985 4th qtr oper net also excludes a loss of 42,820 dlrs\nfor carryforward.\n Reuter\n&#3;',0
'PIEDMONT &lt;PIE> TAKES NO ACTION Piedmont Aviation Inc said\nits board meeting recessed today without taking action on\nproposals to combine Piedmont with other corporations.\n    Piedmont has received opposing bids from Norfolk Southern\nCorp and US Air Corp.\n    Earlier today, Trans World Airlines Inc offered to either\nbuy Piedmont suitor US Air or, alternatively, to merge with\nPiedmont and U.S. Air.\n    IN a prepared statement, Piedmont said there would be no\nfurther announcements concerning this situation today.\n    The company declined to say when the board would meet\nagain.\n   \n Reuter\n&#3;',0
'YEUTTER CONCERNED ABOUT U.S. EXPORT PICTURE U.S. Trade Representative Clayton\nYeutter said he expects imports to fall soon but he was\nconcerned about the lack of improvement in U.S. exports given\nthe dollar\'s decline in the last 18 months.\n    \"I\'m convinced we\'re about to see an improvement on the\nimport side. I\'m more concerned about the export side,\" he told\na House Appropriations subcommittee.\n    Part of the blame goes on other countries which have not\ngenerated the economic growth to increase demand for U.S. goods\nand part to some U.S. companies which are not generating\ncompetitive exports, he said.\n Reuter\n&#3;',0
'HOUSE TRADE BILL DRAFTING POSTPONED The House Ways and Means trade\nsubcommittee postponed until next week its opening session to\nstart drafting major changes to U.S. trade laws, a committee\naide said.\n    The subcommittee had not yet completed the preparatory work\nto start writing the legislation, the aide said.\n Reuter\n&#3;',0
'&lt;LUMONICS INC> YEAR LOSS Oper shr loss 20 cts vs profit 66 cts\n    Oper net loss 1,995,000 vs profit 5,820,000\n    Revs 65.2 mln vs 53.0 mln\n    Avg shrs 9,891,000 vs 8,811,000\n    Note: 1986 loss excludes extraordinary loss of 2,413,000\ndlrs or 25 cts shr including corporate reorganization,\ndiscontinuing of U.S. operations and inventory writedown of\nU.S. subsidiaries vs yr-ago loss of 3,140,000 dlrs or 36 cts\nshr.\n Reuter\n&#3;',0
'HCC INDUSTRIES &lt;HCCI> QUARTERLY DIVIDEND Qtly div three cts vs three cts\n    Pay March 27\n    Record March 16\n Reuter\n&#3;',0
'SOUTHLAND &lt;SLC> UNIT RAISES CRUDE PRICES Southland Corp\'s Citgo Petrleum Corp\nsaid it raised the contract price it will pay for all grades of\ncrude oil by one dlr a barrel, effective today.\n    The increase brings Citgo\'s posted price for West Texas\nIntermediate to 17.00 dlrs a bbl. West Texas Sour is also now\npriced at 17.00 dlrs/bbl, and Light Louisiana South is posted\nat 17.35 dlrs/bbl.\n    On February 25 Citgo lowered its crude postings 50 cts to\n1.50 dlrs per bbl, and cut WTI one dlr to 16.00.\n    \n Reuter\n&#3;',0
'&lt;WESTERN SECURITY BANK> 4TH QTR NET Shr profit ten cts vs loss six cts\n    Net profit 43,000 vs loss 26,000\n    Year\n    Shr profit 46 cts vs profit 12 cts\n    Net profit 193,294 vs profit 51,029\n    Assets 44.4 mln vs 25.3 mln\n    Deposits 40.0 mln vs 21.4 mln\n    Loans 25.3 mln vs 15.2 mln\n Reuter\n&#3;',0
'RECENT U.S. OIL DEMAND UP 2.1 PCT FROM YEAR AGO U.S. oil demand as measured by\nproducts supplied rose 2.1 pct in the four weeks ended February\n27 to 16.39 mln barrels per day (bpd) from 16.05 mln in the\nsame period a year ago, the Energy Information Administration\n(EIA) said.\n    In its weekly petroleum status report, the Energy\nDepartment agency said distillate demand was down 2.1 pct in\nthe period to 3.37 mln bpd from 3.44 mln a year earlier.\n    Gasoline demand averaged 6.60 mln bpd, up 2.4 pct from 6.44\nmln last year, while residual fuel demand was 1.47 mln bpd, up\n1.9 pct from 1.44 mln, the EIA said.\n    Domestic crude oil production was estimated at 8.38 mln\nbpd, down 8.7 pct from 9.18 mln a year ago, and gross daily\ncrude imports (excluding those for the SPR) averaged 4.11 mln\nbpd, up 36.9 pct from three mln, the EIA said.\n    Refinery crude runs in the four weeks were 12.21 mln bpd,\nup 2.2 pct from 12 mln a year earlier, it said.\n    Year-to-date figures will not become available until March\n26 when EIA\'s Petroleum Supply Monthly data for January 1987\nbecomes available, the agency said.\n Reuter\n&#3;',0
'COFFEE PRICE DROP NOT AFFECTING COLOMBIA\'S DEBT the sharp fall in international coffee\nprices will not affect colombia\'s external credit situation,\nfinance minister cesar gaviria told reuters.\n    \"our foreign debt is high, but we can pay, and I hope the\nforeign banking community will maintain its position toward us,\"\nhe said.\n    He said the current decline on world coffee markets was not\ntotally unexpected and would have no immediate bearing on\ncolombia\'s financial state, which he described as sound.\n    Gaviria said the decline in coffee prices could mean a loss\nof 1.5 billion dlrs in revenues for 1987.\n    The conservative party and the country\'s largest trade\nunion called this week for the debt to be rescheduled following\nthe price drop.\n    Colombia, the only major latin american country not to have\nrescheduled its external public debt, has a total foreign debt\nof 13.6 billion dlrs.\n Reuter\n&#3;',0
'USDA WOULD SCRAP COTTON, RICE, BEAN PRICE FLOORS The package of proposed farm policy\nchanges that the Reagan administration sent to Congress today\nincludes a provision that would eliminate minimum price support\nlevels for upland cotton, rice and soybeans.\n    The package, obtained by Reuters, also includes a\nprovision, outlined in advance by USDA officials, that would\nincrease the annual permissible cut in the basic price support\nlevels for all major crops to 10 pct from five pct.\n    Under current law, the basic support prices for upland\ncotton, rice and soybeans between 1987 and 1990 cannot be cut\nbelow 50 cents per lb, 6.50 dlrs per hundredweight and 4.50\ndlrs per bushel, respectively.\n    USDA\'s intention to propose scrapping price floors for\ncotton, rice and soybeans had not been disclosed previously.\n Reuter\n&#3;',1
'SOUTH AFRICAN FOREIGN RESERVES UP SHARPLY South Africa\'s total gold and\nforeign assets rose by 700 mln rand in February to 6.2 billion\nrand after rising by almost one billion rand in January,\nReserve Bank Governor Gerhard de Kock said.\n    De Kock, interviewed on state-run television, gave no\nbreakdown of the reserves.\n    He also said that to curb inflation, salary increases would\nhave to be below the inflation rate. The state must set an\nexample by keeping wage increases below the inflation rate, he\nsaid.\n    Consumer prices rose by 16.1 pct in the year to January.\n Reuter\n&#3;',0
'WTC INTERNATIONAL &lt;WAF> SETS SOUTH AFRICA TRUST WTC International N.V. said it\nhas sold its affiliates in South Africa to an independent\ntrust, created to continue the operations in that country.\n    The purchase price was about 8.4 mln dlrs, represented by a\nten-year interest-bearing note, payable annually at 11 pct, to\nbe paid by the trust out of proceeds from the South African\noperations, the company said.\n    WTC said its board concluded in view of the social,\npolitical and economic situatin in South Africa, it was best to\nseparate the company from its interests there.\n Reuter\n&#3;',0
'IVORY COAST SAYS COFFEE PRICE FALL SHORT-LIVED Ivory Coast today predicted that the\npresent coffee price crash recorded after the collapse of the\nrecent International Coffee Organisation (ICO) meeting in\nLondon would not last long.\n    Commenting on Monday\'s failure by producer and consumer\nnations to agree on new export quotas needed to tighten an\noversupplied coffee market, Ivorian Agriculture Minister Denis\nBra Kanon told reporters that traders would eventually be\nobliged to restore their positions.\n    \"I am convinced the market is going to reverse by April,\" he\ntold a news conference here at his return from the failed\nLondon talks.\n    Robusta coffee beans for May delivery ended the day in\nLondon down about 50 sterling at 1,265 sterling a tonne, the\nlowest since 1982.\n    Bra Kanon estimated at at least 535 billion CFA francs\n(1.76 billion dlrs) the overall loss in revenues earned by\nIvory Coast from all its commodities exports this year if the\nslide on the world markets continues.\n    He disclosed that his country - the world\'s biggest cocoa\nproducer and the third largest for coffee -- would spearhead an\nAfrican initiative to reach a compromise formula by the end of\nnext month.\n    Ivory Coast has been chosen by the Abidjan-based\nInter-African Coffee Organisation (IACO) to speak on behalf of\nthe continent\'s 25 producer nations at the London talks.\n    \"An initiative from IACO is likely very soon,\" he said\nwithout elaborating.\n    \"Following the London collapse, we have immediately embarked\non a concertation course to avoid breaking an already fragile\nmarket,\" he said.\n    Questioned by journalists, the minister said President\nFelix Houphouet-Boigny estimated for the moment that his\ngovernment would not be forced to reduce the price guaranteed\nby the state to Ivorian coffee-growers for the current season.\n    Last year, the West African nation announced that the\ncoffee producer price would stay at 200 CFA francs (65 cents)\nper kilo.\n    Bra Kanon said that his country would strive to diversify\nits agricultural production to avoid beeing too dependent from\nworld market fluctuation.\n    A communique read over the state-run television tonight\nsaid that during today\'s weekly cabinet meeting, the veteran\nIvorian leader reaffirmed \"his faith in Ivory Coast\'s bright\n(economic) future\" despite the commodities price slide.\n    The Agriculture Minister also announced the government\ndecided to earmark a sum of 7.5 billion CFA francs (24.71 mln\ndlrs) to support the country\'s small farmers.\n    Financially-strapped Ivory Coast, long regarded as one of\nAfrica\'s showpiece economies, is going through difficult times\nfollowing the sharp slump in the world price of cocoa and\ncoffee.\n    Ivory Coast\'s real gross domestic product is expected to\ngrow only one pct this year compared to five pct in 1986,\naccording to a recent Finance Ministry estimate.\n Reuter\n&#3;',0
'N.Z. CURRENT ACCOUNT DEFICIT NARROWS IN JANUARY New Zealand\'s current account deficit\nnarrowed to 180 mln N.Z. Dlrs in January from 203 mln, revised\nfrom 207 mln, in December and 305 mln in January 1986, in a\nsmoothed measurement, the Statistics Department said.\n    Unsmoothed figures show a deficit of 162 mln dlrs for\nJanuary against 107 mln, revised from 75 mln for December 1986\nand 575 mln in January 1986.\n    The smoothed series -- adjusted to iron out random\nfluctuations -- shows a widening surplus on merchandise trade\nto 46 mln from a surplus of 33 mln, revised from 43 mln dlrs in\nDecember and a 71 mln deficit in the a year ago period.\n    Exports were 905 mln dlrs against 929 mln, revised from 971\nmln in December and 816 mln a year earlier, while imports fell\nto 858 mln from 895 mln, revised from 928 mln in December and\n888 mln in January 1986.\n    Unadjusted merchandise figures show a surplus of 53 mln\ndlrs vs 141 mln, revised from 203 mln surplus in December 1986\nand a 323 mln deficit a year earlier.\n    The deficit on invisibles on unsmoothed figures eased to\n215 mln dlrs from 248 mln, revised from 277 mln in December and\n252 mln in January 1986.\n    The smoothed deficit on invisibles fell to 226 mln from 237\nmln, revised from 250 mln in December and 234 mln in the year\nago period.\n REUTER\n&#3;',0
'REAGAN\'S REMARKS HELP GOLD TO RECOVER IN HONG KONG Gold rose by about 50 U.S. Cents an\nounce, following a statement by President Ronald Reagan that\nthe arms-for-hostages deal with Iran \"was a mistake,\" dealers\nsaid.\n    Bullion rose to 409.40/90 dlrs from an initial low of\n408.90/409.40. This compares with the opening of 409.00/50 and\nNew York\'s close of 410.00/50.\n    Dealers noted mild short-covering in the metal after some\ninitial selling by local investors. Trading was fairly quiet\nthis morning partly owed to the slow U.S. Dollar activities,\nthey added.\n    However, Reagan\'s remarks had only a short-lived bullish\nimpact on the gold price, which is now stabilising at 409.10/60\ndlrs, dealers said.\n    On the local market, the metal traded in a narrow range of\n3,800 and 3,805 H.K. Dlrs a tael against yesterday\'s 3,778\nclose.\n REUTER\n&#3;',0
'TAIWAN ISSUES MORE CDS TO CURB MONEY SUPPLY GROWTH The central bank has issued 7.08 billion\ndlrs worth of certificates of deposit (CDs), bringing the value\nof CD issues so far this year to 93.29 billion, a bank\nspokesman told Reuters.\n    The new CDs, with maturities of six months, one year and\ntwo years, carry interest rates ranging from 3.9 to 5.15 pct.\n    The issues are designed to help curb the growth of the M-1B\nmoney supply which has expanded along with Taiwan\'s foreign\nexchange reserves, the spokesman said. The reserves reached a\nrecord high of more than 51 billion U.S. Dlrs Wednesday.\n REUTER\n&#3;',0
'UNUSUALLY DRY WEATHER AFFECTS CHINA\'S AGRICULTURE Abnormally warm and dry weather over most\nparts of China is seriously affecting crops, the New China News\nAgency said.\n    It said the drought has made rice planting difficult in\neight provinces, including Guangxi, Sichuan and Hunan. Plant\ndiseases and insect pests have increased in wheat-producing\nareas, it said.\n    The agency said some areas of Guangxi, Hubei, Shanxi and\nother provinces have been suffering a drought for more than\nseven months.\n    The agency said the dry weather had reduced the amount of\nwater stored by more than 20 pct compared with last March,\nlowered the water level of many rivers, reduced hydroelectric\npower supplies and caused water shortages for industry and\nconsumers.\n    The upper reaches of the Yangtze are at their lowest levels\nin a century, causing many ships to run aground and making\nharbour manoeuvres difficult, it said.\n    The drought has also increased the number of forest fires.\nMore than 1,000 fires in southern China had destroyed 13,340\nhectares of forest by mid-February, it said.\n REUTER\n&#3;',1
'TAIWAN SHIPBUILDER LOOKS FOR JAPANESE VENTURES Taiwan\'s state-owned China Shipbuilding\nCorp (CSBC) plans to seek joint production agreements with\nJapan and further diversify into ship repairing to try to trim\nits debts, chairman Louis Lo said.\n    He told Reuters in an interview that CSBC\'s first joint\nproduction venture, to build two hulls for &lt;Onomichi Dockyard\nCo Ltd>, was a success. Talks on similar projects have been\nheld with other Japanese firms, including Mitsubishi Heavy\nIndustries Co Ltd &lt;MITH.T> and Ishikawajima-Harima Heavy\nIndustries Co Ltd &lt;JIMA.T>, he said.\n    Lo said CSBC delivered the hulls of two 2,200-TEU (twenty\nfoot equivalent unit) container ships this year to Onomichi,\nwhich would complete production.\n    \"We expect the successful cooperation between us and\nOnomichi will pave the way for further cooperation with other\nJapanese shipbuilders in the future,\" Lo said.\n    He said Japanese firms would gain from the lower cost of\nshipbuilding in Taiwan while CSBC would benefit from Japanese\ntechnology and marketing. This would pose a challenge to\ncompetitors in Europe and South Korea.\n    Lo said CSBC has made losses of about 100 mln U.S. Dlrs\nsince beginning operations in 1975. Its total debt now stands\nat about 500 mln dlrs, with annual interest payments of nearly\nthree mln dlrs.\n    But he said the company, which is Taiwan\'s largest\nshipbuilder, still has full government support and had begun\ndiversifying into ship repairing and manufacture of pipes and\nother machinery.\n    \"We hope we can survive and prosper through diversification,\"\nhe said.\n    Lo said income from ship repairing almost doubled to 20 mln\nU.S. Dlrs in the year ended June 1986 compared with the\nprevious financial year. He estimated income would rise to more\nthan 25 mln dlrs in 1986/87.\n    CSBC has orders to build 10 ships totalling 460,000 dead\nweight tons (dwt) this financial year, compared with 11 ships\nof 462,000 dwt in 1985/86, he said.\n    Lo said the prospects for shipbuilding were gloomy at least\nuntil 1991 due to overtonnage, but the outlook for ship\nrepairing was bright.\n REUTER\n&#3;',0
'CREDITORS SEEK SWIFT RESCUE PACKAGE FOR JAPAN LINE A group of creditor banks hopes to work\nout a rescue package for Japan Line Ltd &lt;JLIT.T>, one of the\nworld\'s largest tanker operators, by the end of Japan\'s\nbusiness year on March 31, a spokesman for the Industrial Bank\nof Japan Ltd &lt;IBJT.T> (IBJ) said.\n    Japan Line\'s cumulative debt was 68.98 billion yen at the\nend of September, which exceeded shareholders\' equities and\nreserves totalling 63.40 billion.\n    In December, Japan Line asked banks to shelve repayment of\nabout 124 billion yen in outstanding loans and about 153\nbillion in loans to its subsidiaries.\n    Japan Line said then that the yen\'s steep rise and the\nworld shipping recession had hit the company hard.\n    The Japanese daily Asahi Shimbun said today that IBJ and\nthree other banks plan to abandon a total of 16 billion yen in\nloans to Japan Line and a group of creditor banks plans to buy\nseven billion yen of new Japan Line shares.\n    The spokesman for IBJ, Japan Line\'s largest creditor, said\nthe package may write off part of the outstanding loans and\nwill be worked out before long.\n    Commenting on the article, he said the details of the\npackage have not yet been settled.\n REUTER\n&#3;',0
'AUSTRALIAN WHEAT EXPORTS RISE IN FEBRUARY Australian wheat shipments rose to\n1.33 mln tonnes in February from 1.01 mln in January, an\nAustralian Wheat Board official said.\n    February\'s shipments were down on the 1.54 mln tonnes\nshipped in February 1986.\n    Cumulative shipments for the first five months of the\nOctober/September wheat year were 6.12 mln tonnes, as against\n6.54 mln a year earlier, the official said.\n    The major destinations in February were: China (419,196\ntonnes), Egypt (301,909), Iraq (142,055), Japan (110,261),\nSouth Korea (100,847) and the Soviet Union (100,056 tonnes).\n REUTER\n&#3;',1
'OPEC STICKING FIRM ON OFFICIAL PRICES - SUBROTO OPEC countries are all sticking firmly to\nofficial crude oil prices but the volatility of spot prices is\nlikely to continue into the third quarter, Indonesian Minister\nof Mines and Energy Subroto told Reuters.\n    Subroto, attending a Pacific Energy Cooperation conference,\nblamed recent rapid spot price changes on unbalanced supply and\ndemand. \"If we stick to the production limitation, the third\nquarter will be in better balance.\"\n    He said the market is in a period of transition while the\nimpact of OPEC\'s December agreement to cut output and fix\nprices at an average 18 dlrs a barrel is worked through.\n    Asked whether OPEC members of the Gulf Cooperation Council\n(GCC) had any concrete proposals to help Qatar sell its crude\noil in the face of strong resistance to its official prices,\nSubroto said: \"Apparently they have taken care of that.\"\n    \"They (the GCC) meet very often among themselves. I think\nthey\'ll help each other,\" he said.\n    Subroto said that as he was not a member of OPEC\'s Price\nDifferentials Committee he did not know why the meeting had\nbeen postponed from its scheduled April 2 date.\n    \"Maybe they find it is better not to have the meeting\nbecause ... Everyone is sticking to official prices,\" he said.\n REUTER\n&#3;',0
'THAI COFFEE EXPORTS RISE IN 1986 Thai coffee exports rose to 22,068\ntonnes in 1986 from 20,430 a year earlier, the Customs\nDepartment said.\n REUTER\n&#3;',0
'SOUTH KOREAN MONEY SUPPLY RISES IN FEBRUARY South Korea\'s M-2 money supply rose 0.39\npct to 33,992.0 billion won in February from 33,858.4 billion\nin January, when it fell a revised 0.04 pct from December,\nprovisional Bank of Korea figures show.\n    The February figure was up 18.89 pct from a year earlier.\n    M-1 money supply rose 4.13 pct to 8,492.1 billion won in\nFebruary from January, when it fell 7.82 pct from December. The\nFebruary figure marked a year-on-year rise of 18.45 pct.\n    The bank previously said M-2 fell 0.06 pct in January.\n REUTER\n&#3;',0
'PAKISTAN\'S FOREIGN EXCHANGE RESERVES FALL Pakistan\'s foreign exchange reserves\nfell to 8.43 billion rupees in February from 8.96 billion in\nJanuary, compared with 12.97 billion in February 1986, the\nState Bank of Pakistan said.\n    The bank gave no reason for the fall but local bankers said\nbig import bills had affected the reserves.\n    The Federal Bureau of Statistics has not yet released last\nmonth\'s import and export figures.\n REUTER\n&#3;',0
'THAILAND REDUCES MAIN RICE CROP PROJECTION Thailand\'s main paddy crop is expected\nto fall to 15.4 mln tonnes in the 1986/87 (Nov/Oct) season from\na previous 15.68 mln estimate in November and an actual 17.35\nmln a year ago, the Thai Rice Mills Association said.\n    It said a joint field survey late last month by the\nassociation, the Commerce Ministry and the Bank of Thailand\nindicated that paddy output in Thailand\'s northeast region is\nlower than expected because of a drought in several provinces.\n    The association said rice growing areas in Nakhon\nRatchasima, Chaiyaphum, Khon Kaen and Mahasarakam were\nespecially affected by low rainfalls in the second half of\n1986.\n    It said last November that the drought reduced total\nnational areas sown with paddy to some 8.25 mln hectares this\nyear, down from 8.84 mln a year ago.\n    The main crop represents about 85 pct of Thailand\'s paddy\noutput.\n REUTER\n&#3;',1
'HOECHST GROUP PRE-TAX PROFIT FALLS IN 1986 Hoechst AG &lt;HFAG.F> said its group\npre-tax profit in 1986 would be slightly lower than the 3.16\nbillion marks posted in 1985, while parent company pre-tax\nprofits rose slightly from the 1.62 billion in 1985.\n    Group turnover fell slightly to 38 billion marks from 42.72\nbillion in 1985, and parent company turnover fell to around 14\nbillion marks from 15.35 billion, the company said in a\nstatement.\n REUTER\n&#3;',0
'BHP TO FLOAT GOLD UNIT WITH ONE-FOR-THREE ISSUE The Broken Hill Pty Co Ltd &lt;BRKN.S>\n(BHP) said it plans a renounceable one-for-three issue of\nrights to float a new company, &lt;BHP Gold Mines Ltd> (BHPGM),\nwhich will hold most of BHP\'s gold interests.\n    In a statement BHP said the 25-cent par rights would be\npriced at 50 cents for 430 mln of the BHPGM shares on offer.\nBHP will subscribe for the remaining 540 mln shares, or 56 pct\nof issued capital, on the same terms.\n    BHPGM will pay 440 mln dlrs for BHP\'s gold interests,\nexcluding its stake in Papua New Guinea\'s &lt;Ok Tedi Mining Ltd>\nand those interests held by BHP\'s &lt;Utah International Inc>.\n    The BHP statement said the issue will be made to\nshareholders registered on March 27. It opens April 4 and\ncloses April 29, and is underwritten by &lt;J.B. Were and Son>.\nRights will be traded on Australian stock exchanges from March\n23 to April 22, and the new shares will be quoted from June 4.\n    BHP said the new company will be one of Australia\'s larger\ngold producers, with annual output exceeding 170,000 ounces. It\nsaid there are plans to boost production to 300,000 ounces by\nthe early 1990s. BHPGM\'s portfolio will include several\nAustralian mines -- 30 pct of Telfer, 100 pct of Ora Banda and\nBrowns Creek and 20 pct of the new Boddington development.\n    The statement said BHPGM would also hold BHP\'s 45 pct stake\nin the Coronation Hill Property in the Northern Territory, and\nits 55 pct stake in a new venture near Gympie, Queensland.\n    BHPGM chairman-designate John Gough said it was a quality\ngold stock.\n    \"The diversity and depth of BHP Gold\'s portfolio ... Give\nthe company a sound foundation in current gold production and\nan exciting potential for growth,\" he said.\n REUTER\n&#3;',0
'HK BANK EXPECTED TO POST 10 TO 13 PCT PROFIT RISE The Hongkong and Shanghai Banking Corp\n&lt;HKBH.HK> is likely to show a rise in profit of between 10 and\n13 pct for 1986, reflecting stronger than expected loan growth,\nshare analysts polled by Reuters said.\n    Their estimates of the bank\'s net earnings for last year\nranged from 2.99 to 3.1 billion H.K. Dlrs. Results will be\nannounced on Tuesday. The 1985 net profit was 2.72 billion.\n    They forecast a final dividend of 29 cents for a total of\n42 cents for the year against 38 cents in 1985, adjusted for a\none-for-five bonus issue.\n    Analysts said they expected the bank to recommend a bonus\nissue this year, probably one for three or one for five.\n    The bank\'s 61.5 pct subsidiary Hang Seng Bank Ltd &lt;HSGH.HK>\nis to report its 1986 results on Friday.\n    Analysts expect Hang Seng to announce net profit of more\nthan one billion dlrs for the first time, an increase of 10 to\n12 pct.\n    They expect Hang Seng to pay a final dividend of 1.37 dlrs\nfor a total of 1.75 dlrs for the year against 1.60 in 1985.\n    Analysts said that while the use of undisclosed inner\nreserves by banks here makes forecasting very imprecise,\nHongkong Bank benefited from the unexpected strength of the\nHong Kong economy in 1986, when gross domestic product grew by\nnearly nine pct against an initial forecast of 4.5 pct.\n    \"They benefited considerably from the pickup in loan demand,\nas their loan portfolio is well balanced,\" an analyst at Mansion\nHouse Securities (F.E.) Ltd said.\n    Government figures show that total loans and advances rose\nby 13.8 pct in 1986, compared with a 4.5 pct increase in 1985.\n    Loans to finance Hong Kong\'s visible trade, the mainstay of\nthe local economy, rose by 15.1 pct against a decline of five\npct in 1985.\n    Low interest rates also helped the bank. Interest received\non loans was low, with the prime rate at 6.5 pct at end-1986,\nbut interest paid on savings was two pct. Hongkong Bank and\nHang Seng Bank control half of all deposits in the banking\nsystem, giving them access to a large base of low-cost funds.\n    The strength of the real-estate market was another major\nincome source for the bank group. Loans to finance property\ndevelopment and instalment mortgages rose sharply.\n    \"The Hongkong Bank group is still the leader in mortgage\nbusiness despite tough competition from the Bank of China group\nand other foreign banks,\" one analyst said.\n    The high level of activity on the capital and equities\nmarkets in 1986 contributed to a sharp improvement in Hongkong\nBank subsidiaries Wardley Ltd &lt;WAIA.HK> and &lt;James Capel and\nCo>, analysts said. \"Wardley had a tremendous year acting as\nfinancial adviser and underwriter,\" an analyst said.\n    Wardley was underwriter for last year\'s billion-dlr\nflotation of &lt;Cathay Pacific Airways Ltd>, of which Hongkong\nBank owned 30 pct at the time.\n    The bank\'s stake has since been cut to 16.4 pct in return\nfor 1.57 billion dlrs. It also sold its entire 48.8 pct stake\nin &lt;South China Morning Post Ltd>, the larger of two\nEnglish-language daily newspapers here, for 1.18 billion dlrs.\n    The proceeds will go to reserves for acquisitions and will\nnot show up in the profit and loss accounts, analysts said.\n    Analysts said the bank had also been helped by a reduced\nneed to write off bad debts. \"The need for provisions was much\nlower than the year before,\" said Tony Measor of Hong Leong\nSecurities Co Ltd. \"Last year\'s profits should have been 2.8 to\n2.9 billion dlrs if not for the huge provisions.\"\n    Former Hongkong Bank chairman Michael Sandberg said the\nbank wrote off hundreds of millions of dollars against its\nshipping exposure in 1985. Lesley Nickolds of County Securities\nAsia Ltd said she saw no major shipping writeoffs in 1986. She\nforecast profit of 2.99 billion dlrs.\n    The bank\'s Latin American exposure, mainly through its\n51-pct owned Marine Midland Banks Inc &lt;MM>, appears to have\nimproved substantially, analysts said. Marine Midland\'s 1986\nfourth-quarter loan-loss provisions fell to 44.1 mln U.S. Dlrs\nfrom 89.2 mln a year before. Its 1986 net profit rose to 145\nmln U.S. Dlrs from 125 mln in 1985.\n REUTER\n&#3;',0
'HUGHES TOOL DIRECTORS REJECT MERGER WITH BAKER The directors of Hughes Tool Co\n&lt;HT> said they would recommend to shareholders that they reject\na merger with Baker International Corp &lt;BKO> today.\n    Hughes vice-president Ike Kerridge said the recommendation\nwould be put to shareholders at a meeting scheduled for 10 A.M.\nLocal time (1600 GMT) to discuss the proposed merger.\n    Kerridge said the board met yesterday to discuss the merger\nbut decided against it.\n    The Hughes board objected to a U.S. Department of Justice\nrequirement that Baker sell off several specialised\nsubsidiaries in businesses related to oil-drilling.\n    The Hughes board last week indicated that it might cancel\nthe merger because of the Department of Justice requirement.\n    The board of directors of the California-based Baker had\napproved the merger. On February 17 Baker said it had signed an\nagreement to sell one of the subsidiaries.\n    The companies had been given until April 22 to comply with\nthe Justice Department requirement, Kerridge said.\n REUTER\n&#3;',0
'CANON INC (CANN.T) YEAR ENDED DECMEBER 31 Group shr 18.34 yen vs 58.72\n    Net 10.73 billion yen vs 37.06 billion\n    Pretax 27.76 billion yen vs 84.78 billion\n    Operating 30.06 billion yen vs 88.81 billion\n    Sales 889.22 billion vs 955.78 billion\n    Note - The company attributed the profit fall largely to\nthe yen\'s appreciation during the period. Domestic sales rose\n0.4 pct to 274.17 billion yen from a year earlier while exports\ndeclined 9.9 pct to 615.04 billion.\n REUTER\n&#3;',0
'NEW CURRENCY PROBLEM SEEN AMONG U.S, EUROPE, JAPAN The highly visible drama involving the\nyen\'s sharp rise against the U.S. Dollar is obscuring the fact\nthat the Japanese currency has hardly budged against major\nEuropean currencies, thus creating a new set of exchange rate\ndistortions, Japanese and European research officials said.\n    The officials, looking beneath the rhetoric of statements\nby the Group of Five (G-5) industrial nations, told Reuters the\ncurrency movements of the past two years are also creating a\nfundamentally new world trade picture, which is throwing up new\ntrade tensions and imbalances.\n    Trade figures show that the new currency alignments are\nalready changing the Japan-U.S. Trade axis into a Japan-\nEuropean Community (EC) axis, to the discomfort of Europe.\n    In many ways, not least in terms of rare international\ncooperation, the September, 1985 New York Plaza pact between\nthe U.S., Japan, West Germany, Britain and France to cut down\nthe value of the dollar was a historic one.\n    But it is the underlying peaks and troughs of the major\ncurrency movements which lay bare the real picture, in which\nthe Plaza pact appears as an event of prime importance, but not\nnecessarily central significance, the officials said.\n    The officials said that when the Plaza agreement took\nplace, the dollar was already on its way down. The agreement\nsimply helped it on its way. Senior EC financial expert in\nTokyo Tomas de Hora has watched the movements closely.\n    \"You have to look at the dollar\'s peak compared with now,\nand that was well before Plaza,\" he said.\n    On February 25, 1985, the dollar peaked against the yen at\n263.15 yen. On September 20, the Friday before Plaza, it was\n242. Since then, despite massive Bank of Japan intervention and\nperiodic market frights about further G-5 concerted action, the\ndollar trend has been down, down, down.\n    Yet the ECU is now around 173.4 yen. The historical cross\nrates for sterling and the mark tell much the same story. The\nEuropean currencies are moving back up against the yen.\n    The close relationship between exchange rates and trade\nflows makes it difficult to see which is driving which, but\nundoubtedly the trade equation between the big three is\nchanging. In 1986, Japanese imports and exports with the EC\nboth grew by around 50 pct in dollar terms, five pct in yen.\nThis gave Japan a 16 billion dlr trade surplus.\n    Last January, Japanese exports to the EC totalled half of\nof sales to the U.S, against about a third in recent years.\n    Trade with the U.S in 1986 rose 23 pct for exports and 12\npct for imports in dollar terms, but fell 13 pct for exports\nand 21 pct for imports in yen terms.\n    \"The basic meaning for Europe is that Japanese firms have a\ntremendous interest in exporting to Europe, where every unit\nsold maximises profits in yen terms, which is what is important\nto them. Suddenly, instead of the U.S., It is Europe that is\nlaying the golden egg,\" said de Hora.\n    The EC is worried. EC business also had a remarkable year\nin Japanese sales, but this can be explained partly due to its\nstart from a small base, compared with total Japan-U.S. Trade.\n    The Japanese think EC firms are now more competitive than\nU.S. Firms, a factor which is aggravating the exchange rate\nimbalance, and which will cause problems.\n    \"This currency alignment between Japan and the EC is\nreflecting the excellent performance of the EC countries. But\ntherefore, Japanese goods may keep their price competitive\nedge,\" said Azusa Hayashi, Director of the First International\nEconomic Affairs Division of the Foreign Ministry. \"If you want\nmy objective view, I don\'t expect a drastic improvement in our\ntrade imbalance. Last year, we asked for moderation in exports,\nand this year we may have to do so again,\" he said.\n REUTER\n&#3;',0
'THAI TIN EXPORTS RISE IN JANUARY Thailand exported 1,816 tonnes of tin\nmetal in January, up from 1,731 in December and 1,330 a year\nago, the Mineral Resources Department said.\n    It said major buyers last month were Singapore, Japan,\nBritain, the Netherlands, Malaysia and the U.S.\n REUTER\n&#3;',0
'U.K. MONEY MARKET OFFERED EARLY ASSISTANCE The Bank of England said it had invited\nan early round of bill offers from the discount houses. The\nBank forecast the shortage in the system today at around 1.15\nbillion stg.\n    Among the main factors affecting liquidity, bills maturing\nin official hands and the take-up of treasury bills will drain\nsome 732 mln stg and exchequer transactions some 245 mln. In\naddition, bankers\' balances below target and a rise in note\ncirculation will drain a further 135 mln stg and 30 mln stg\nrespectively.\n REUTER\n&#3;',0
'BELGOLUX TRADE MOVES INTO SURPLUS IN 1986 The Belgo-Luxembourg Economic Union\n(BLEU) moved into a narrow trade surplus of 4.7 billion francs\nin 1986 after a 140.4 billion franc deficit in 1985, figures\ngiven by a spokesman for the National Statistics Institute\nshow.\n    He said imports fell last year to 3,061.8 billion francs\nfrom 3,304.1 in 1985 while exports were also lower at 3,066.6\nbillion francs against 3,163.7 billion.\n    In December, the BLEU had an 11.9 billion franc trade\nsurplus after a 10.9 billion franc surplus in November and a\n2.3 billion franc surplus in December 1985.\n REUTER\n&#3;',0
'SPAIN RAISES BANKS\' RESERVE REQUIREMENT The Bank of Spain said it raised the\nreserve requirement for banks and savings banks to 19 pct of\ndeposits from 18 pct to drain excess liquidity which threatened\nmoney supply and inflation targets.\n    In a statement issued late last night, the central bank\nsaid the measure would take effect from March 13.\n    \"In recent weeks, there has been excess liquidity in the\nSpanish economy which, if not controlled, would threaten the\nmonetary and inflation targets set by the government,\" the\nstatement said.\n    Banking sources said the measure would drain about 200\nbillion pesetas from the system. The maximum reserve\nrequirement allowed by law is 20 pct.\n    The move follows a half-point increase yesterday in the\nBank of Spain\'s key overnight call money rate, which now stands\nat 13.5 pct. At today\'s auction, however, the bank left the\nrate unchanged.\n    Spain\'s principal measure of money supply, the broad-based\nliquid assets in public hands (ALP), grew at annualised rate of\n8.3 pct in January compared with 11.4 pct during the whole of\n1986 and a target of eight pct for 1987.\n    Banking sources said that although the January money supply\nfigures were good, compared with annualised rates of 13.9 pct\nin December and 10.2 pct in January 1986, ALP growth appeared\nto have accelerated in February, raising government concern.\n    Regarding inflation, recent figures have suggested that\nprices were under control.\n    Secretary of State for Trade, Miguel Angel Fernandez\nOrdonez, said this week that the annualised inflation rate for\nFebruary, not yet officially announced, fell to 5.5 pct from\nsix pct in January, compared with inflation of 8.3 pct during\n1986 and a government target of five pct for this year.\n REUTER\n&#3;',0
'INDIA AND JAPAN TO DISCUSS IRON ORE PRICES The state-owned Minerals and Metals\nTrading Corp will send a team to Japan next week to negotiate\nan iron ore export contract for 1987/88 beginning April 1,\ntrade sources said.\n    Japan, the biggest buyer of Indian iron ore with imports of\naround 23 mln tonnes a year, has asked India to reduce prices\nfrom the current average of 18 dlrs a tonne, the sources said.\n    \"Japan has said it may be forced to reduce ore imports from\nIndia next year if New Delhi fails to reduce the price,\" one\nsource said, but declined to give further details.\n REUTER\n&#3;',0
'TAIWAN FOREIGN EXCHANGE RESERVES HIT NEW HIGH Taiwan\'s foreign exchange reserves hit a\nnew high of more than 51 billion U.S. Dlrs on March 4, compared\nwith 50 billion in mid-February and 25.1 billion a year\nearlier, the central bank said.\n    Bank governor Chang Chi-Cheng told reporters the increase\ncame mainly from the bank\'s purchases of more than one billion\nU.S. Dlrs on the local interbank market between February 18 and\nMarch 4.\n    He said the rise showed signs of slowing, however, because\nTaiwan has liberalised import policy and expects its trade\nsurplus to decline over the next few months as a result.\n    Chang declined to predict how high the reserves might rise,\nbut local economists have forecast they will hit 60 billion\nU.S. Dlrs by the end of 1987.\n    In January, Taiwan reduced import tariffs of up to 50 pct\non some 1,700 foreign products. It had been under growing U.S.\nPressure to cut its 1986 record 13.6 billion dlr trade surplus\nwith the U.S. Taiwan\'s 1985 surplus with the U.S. Was 10.2\nbillion, according to official statistics.\n    Wang Chang-Ming, Vice Chairman of the Council for Economic\nPlanning and Development, told Reuters the government is\nplanning another round of deep tariff cuts in the second half\nof this year.\n    The reserves could support imports of more than two years\nfor Taiwan, compared with about three months for Japan and the\nU.S.\n REUTER\n&#3;',0
'BELGIAN ECU COIN ISSUE PRICED, SALE DATE SET A limited Belgian issue of silver Ecu\ncoins with a face value of five Ecus will go on sale from March\n23 at a price of 500 Belgian francs each, a Finance Ministry\nspokesman said.\n    Gold Ecu coins with a face value of 50 Ecus will be sold\nfrom the same day. The spokesman told Reuters the price for\nthese would be fixed just before they go on sale but was likely\nto be between 8,500 and 9,000 francs.\n    At least two mln silver coins and several hundreds of\nthousands of the gold coins will be minted, he said. They will\nbe sold both in Belgium and abroad.\n    The coins will be the first ever denominated in the Ecu,\nthe \"basket\" comprised of the 12-nation European Community\'s\ncurrencies except the Spanish peseta and the Portuguese escudo.\n    The issue is being made to mark the 30th anniversary of the\nEC\'s founding Treaty of Rome this month. Finance Minister Mark\nEyskens, who currently presides over the EC\'s council of\neconomic and finance ministers, has called the issue a\npolitical act of symbolic value which aimed to make the\nCommunity\'s goal of monetary integration more concrete.\n    The coins will be legal tender in Belgium but most demand\nis expected to come from coin collectors.\n REUTER\n&#3;',0
'U.K. MONEY MARKET GIVEN 17 MLN STG EARLY HELP The Bank of England said it provided just\n17 mln stg assistance to the money market in response to an\nearly round of bill offers.\n    Earlier, the Bank had estimated the shortage in the system\ntoday at around 1.15 billion stg.\n    The central bank purchased bills for resale to the market\non April 2 at an interest rate of 10-15/16 pct.\n REUTER\n&#3;',0
'FIRS SLIGHTLY RAISES EC BEET SUGAR OUTPUT ESTIMATE The French sugar market intervention\nboard, FIRS, raised its estimate of 1986/87 beet sugar\nproduction in the 12-member European Community to 13.76 mln\ntonnes white equivalent in its end-February report from 13.74\nmln a month earlier.\n    Its forecast for total EC sugar production, including cane\nand molasses, rose to 14.10 mln tonnes from 14.09 mln.\nPortugal, which joined the Community in January 1986, was\nestimated at 12.75 mln tonnes white equivalent, unchanged from\nthe previous forecast and compared with 12.41 mln tonnes for\n1985/86.\n    Production for the current campaign in Spain was higher\nthan reported last month at 1.03 mln tonnes compared with\n997,000 tonnes.\n    Beet sugar production, expressed as white equivalent, was\nestimated at 3.44 mln tonnes in France, 3.17 mln tonnes in West\nGermany, 1.72 mln in Italy, 1.30 mln in Britain, 1.22 mln in\nthe Netherlands, 936,000 tonnes in Belgium/Luxembourg, 499,000\nin Denmark, 287,000 in Greece, 183,000 in Ireland and 4,000 in\nPortugal.\n REUTER\n&#3;',0
'PAPUA NEW GUINEA PLANS RESOURCES INVESTMENT AGENCY The Papua New Guinea Government\nwill establish a public corporation to invest in resources\nprojects, Minerals and Energy Minister John Kaputin said.\n    \"We intend to provide a means through which less privileged\nindividuals can become part owners and beneficiaries from the\ndevelopment of mining and petroleum projects,\" he told\nParliament.\n    Existing policy allowing the state up to 30 pct equity in\nmajor mining projects and 22.5 pct in oil and gas projects\nwould be maintained, he said. The planned agency could take\nover the state\'s equity in current developments.\n    Kaputin said Papua New Guinea was experiencing a boom with\nexploration companies spending about 60 mln kina annually on\nabout 150 mining and 23 petroleum projects.\n    \"The Government is determined to ensure that Papua New\nGuinean ownership in minerals and petroleum projects increases\nin an orderly way,\" he said.\n    Kaputin did not say when the corporation would be\nestablished or exactly what form it would take, but said the\ngovernment would study whether it should be directly involved\nin exploration or development.\n REUTER\n&#3;',0
'NIGERIAN CURRENCY FIRMS AT LATEST AUCTION The Nigerian naira firmed 2.6 pct against\nthe dollar after 17 banks were disqualified from bidding at\ntoday\'s weekly foreign exchange auction, the central bank said.\nThe naira finished at 3.8050 to the dollar, against 3.9050 last\nweek.\n    Only 38.39 mln dlrs of the 50 mln dlrs on offer was sold,\nwith all 27 bidding banks successfully obtaining hard currency.\n    The effective rate, including a central bank levy, for\ntransactions in the coming week, was 3.8241 against 3.9246 last\nweek.\n    The failure to sell the whole allocation was due to the\ncentral bank\'s unprecedented disqualification of 17 banks as\npunishment for inadequate documentation in previous\ntransactions.\n    Banks are required to submit proof that their bids are\nbased on valid commercial transactions and the central bank has\ncomplained in the past that many are failing to produce the\nright paperwork within the specified time.\n REUTER\n&#3;',0
'U.S. TELLS JAPAN TO DO MORE TO CUT TRADE SURPLUS U.S. Undersecretary of State for Economic\nAffairs Allen Wallis said he had urged Japan to do much more to\nreduce its large trade surplus with the United States.\n    \"Our central message to Japan this week was that while we\nhave made progress in some areas, much needs to be done,\" he\ntold a press conference after three days of talks.\n    \"What we need is a resolution of trade issues, we need\nvisible efforts to restructure the economy to encourage more\nimports and we need greater domestic-led growth.\"\n    Forecasting sluggish economic growth in Japan this year,\nWallis urged Tokyo to stimulate domestic demand to help reduce\nits trade surplus, which hit a record 83 billion dlrs in 1986.\n    He named several areas of particular concern to Washington\n-- computer microchips, supercomputers, Kansai airport,\nagricultural products and car telephones.\n    He warned that the U.S./Japan agreement governing trade in\nsemiconductors was in jeopardy. Despite the pact, Japanese\nproducers are still dumping microchips in foreign markets other\nthan the United States while U.S. Penetration of the Japanese\nmarket has not increased, he said.\n REUTER\n&#3;',0
'TAIWAN BUYS 60,000 TONNES OF U.S. MAIZE The joint committee of Taiwan\'s maize\nimporters has awarded contracts to two U.S. Companies to supply\ntwo shipments of maize, totalling 60,000 tonnes, a committee\nspokesman told Reuters.\n    Continental Grain Co of New York received the first 30,000\ntonne cargo contract, priced at 93.86 U.S. Dlrs per tonne,\nwhile Peavey Co of Minneapolis won the second shipment, also\n30,000 tonnes, at 93.36 dlrs per tonne.\n    Both shipments are c and f Taiwan and are set before March\n16, the spokesman said.\n REUTER\n&#3;',1
'GERMAN ECONOMIC OUTLOOK SEEN FAIRLY BRIGHT The outlook for the West\nGerman economy is relatively bright, with gross national\nproduct expected to expand by three pct this year, Kiel\nUniversity\'s Institute for World Economy said.\n    The GNP forecast by the institute, one of five leading\neconomic research bodies in West Germany, is more optimistic\nthan that of the other institutes, some of which have recently\nreduced their GNP forecasts to between two and 2.5 pct.\n    In a report the Kiel institute said West Germany\'s export\noutlook has not deteriorated fundamentally despite the mark\'s\nstrength against the dollar and other major currencies.\n    \"The danger that exports will slump in 1987 appears, all in\nall, limited,\" the report said. \"On the contrary, a slight rise\nin exports can be expected.\"\n    The institute said past experience has shown West German\nexporters will move to counterbalance currency factors by\ncutting costs, trying to penetrate new markets and adjusting\ntheir product ranges.\n    They will be aided in 1987 by an expected slight rise in\neconomic growth in industrial countries. At the same time, the\ndecline in exports to oil producing countries looks set to slow\nthis year.\n    West German GNP growth in 1987 will be led by renewed\nadvances in domestic consumption and investment spending, both\nof which will in turn be buoyed by an expansionary monetary\npolicy, the institute said.\n    However, it said the labour market would see only a slight\nimprovement because companies will be reluctant to hire\nadditional workers due to higher labour costs caused partly by\nagreed reductions in working hours.\n    The institute cautioned that the expansionary stance of\nmonetary policy in West Germany was likely to bring a marked\nacceleration of inflation.\n    It also warned that what it called the worldwide\nsynchronization of monetary policy heightened the risk of a new\nglobal recession. It said central banks in industrialized\ncountries, including the Bundesbank, had followed the Federal\nReserve Board\'s expansionary course.\n    The institute said this in turn was bound to lead\neventually to a rise in worldwide inflation and a shift in U.S.\nPolicy towards a more restrictive policy. Other central banks\nwere likely to follow suit, causing a recession that could\naggravate the debt crisis of developing countries as well as\nincrease protectionism around the world.\n    Although Germany cannot entirely shield itself from the\nnegative effects of the global synchronization of monetary\npolicy, it should do all it can to strengthen the forces of\ngrowth at home.\n    The institute said this could be done by ensuring that\nfiscal policy fosters a willingness to work and invest. Taxes\nshould be cut by a greater amount than currently planned, and\nwage increases in 1987 and 1988 should be markedly lower than\nin 1986. It also said the Bundesbank should reduce inflationary\npressures by cutting the current rate of growth in money supply\nto about four pct.\n REUTER\n&#3;',0
'CREDITOR BANKS MAY BUY INTO SINGAPORE COFFEE FIRM The nine creditor banks of the\nSingapore coffee trader &lt;Teck Hock and Co (Pte) Ltd> are\nthinking of buying a controlling stake in the company\nthemselves, a creditor bank official said.\n    Since last December the banks have been allowing the\ncompany to postpone loan repayments while they try to find an\noverseas commodity company to make an offer for the firm.\n    At least one company has expressed interest and\nnegotiations are not yet over, banking sources said.\n    However, the banks are now prepared to consider taking the\nstake if they find an investor willing to inject six to seven\nmln dlrs in the company but not take control, the banking\nsources said.\n    Teck Hock\'s financial adviser, Singapore International\nMerchant Bankers Ltd (SIMBL), will work on the new proposal\nwith the creditor banks, they said.\n    Major holdings are likely to be held by the two largest\ncreditor banks, Standard Chartered Bank &lt;STCH.L> and\nOversea-Chinese Banking Corp Ltd &lt;OCBM.SI>, they added.\n    Teck Hock owes over 100 mln Singapore dlrs and the creditor\nbanks earlier this week agreed to let Teck Hock fufill\nprofitable contracts to help balance earlier losses.\n    The nine banks are Oversea-Chinese Banking Corp Ltd, United\nOverseas Bank Ltd &lt;UOBM.SI>, &lt;Banque Paribas>, &lt;Bangkok Bank\nLtd,> &lt;Citibank NA>, Standard Chartered Bank Ltd, Algemene Bank\nNederland NV &lt;ABNN.AS>, Banque Nationale De Paris &lt;BNPP.PA> and\n&lt;Chase Manhattan Bank NA.>\n REUTER\n&#3;',0
'U.K. 4TH QTR TRADE DEFICIT 2.6 BILLION STG, CURRENT ACCOUNT DEFICIT 760 MLN - OFFICIAL\n ',0
'ECONOMIC SPOTLIGHT - POLISH SANCTIONS Poland says U.S. Sanctions have cost its\neconomy 15 billion dlrs and has made clear it wants Washington\nto take a lead in repairing the damage after lifting remaining\nrestrictions two weeks ago.\n    Polish officials are unable to provide a precise breakdown\nof the figure, saying it takes into account a number of\nhypothetical losses. Some of them are \"too sophisticated to\nconvert into financial terms,\" one banking source said.\n    But Western economic experts say the effect of sanctions is\nimpossible to calculate.\n    They say it is blurred by the poor performance of Poland\'s\neconomy, and dismiss the 15 billion dlr figure as illusory.\n    \"Sanctions have provided a very useful excuse for under-\nachieving. They did have a bad effect, yes, but they only\ncontributed to largely internal, economic problems,\" one said.\n    The U.S. Imposed the measures and withdrew Most Favoured\nNation (MFN) trading status from Poland in 1982 in retaliation\nfor suppression of the Solidarity free trade union under\nmartial law. The estimated cost to the Polish economy was\noriginally devised several years ago by the Institute of\nNational Economy, an offshoot of the central planning\ncommission.\n    According to one Western envoy, an expert on Polish\neconomic affairs, it extrapolated 1979 information on growth\ntrends in trade with the United States, as well as increases in\ncredits from Western commercial and government lenders.\n    But the calculations were based on a time when trade was\nbooming and credits still flowed freely, he said, dismissing\nthe estimate as \"a theoretical projection based on a high point,\nwhich has no real scientific evaluation.\"\n    A foreign trade ministry official said Polish exports to\nthe U.S. In the late 1970s averaged around 400 mln dlrs\nannually and had fallen by half since the sanctions were\nimposed.\n    Imports have suffered, slumping from around 800 mln dlrs to\n200 mln, as credits ran out. Poland has a dwindling trade\nsurplus with the West. Last year it was one billion dlrs\nagainst a targeted 1.6 billion, official figures show.\n    Acknowledging that sanctions have lost Poland important\nU.S. Markets -- including agricultural equipment, textiles,\nchemicals and some foodstuffs -- Western economists say credits\ndried up for economic not political reasons.  \"Poland is\naccusing the West of letting economic relations deteriorate for\npolitical reasons,\" said one expert. \"It\'s an illusion based on a\nmisunderstanding of Western economy.\"\n    \"There\'s a limit to how much you can go on giving someone\nwho has no hope of repaying it,\" another said, adding that\nPoland had benefited from a global phenomenon of easy credits\nin the 1970s which were no longer today\'s reality.\n    Describing the 15 billion dlr assessment as \"nebulous,\" one\ndiplomat said it also included losses of hypothetical orders\nand setbacks to Polish research through the curbing of\nscientific links and exchanges.  Western officials say the\nlifting of sanctions and new MFN status will have little impact\non Poland, which has a hard currency debt of 33.5 billion dlrs\nand lacks the means to modernise its industry.\n    \"MFN doesn\'t really mean anything, only that Poland will not\nbe treated worse than other countries. It will be difficult to\nregain access to the U.S. Market because different forces are\nin play now,\" said one Western envoy.\n    He said Polish products were not competitive, and their\nquality was too low. Trade wars and possible protectionist\nmeasures amongst the U.S., Japan and Europe would also hamper\nPoland\'s efforts to regain entry.\n    Deputy foreign trade minister Janusz Kaczurba recognised\nthis fact recently.\n    Kaczurba told the official PAP news agency recently, \"Making\nup our lost position will take a long time and be uncommonly\ndifficult, and in certain cases impossible... In a period of\ntwo to three years it will be possible to increase the level of\nexports by only about 100 mln dlrs.\"\n    While Poland is unlikely to seek compensation, it says it\nhas a \"moral right\" to assistance from the U.S. Which it says\nimposed the sanctions illegally. But a Western economist said\n\"The argument that U.S. Sanctions were a unilateral torpedoing\nof the Polish economy won\'t cut any ice. The Americans will\njust reply that the Poles acted immorally in crushing\nSolidarity.\"\n    Nevertheless, Polish National Bank head Wladyslaw Baka, in\ntalks in Washington last week with the International Monetary\nFund (IMF) and World Bank, made it clear that Poland was\nlooking for a lead from the United States.\n    He was quoted by PAP as saying that Poland would meet its\nfinancial obligations to the United States, \"but not in a short\ntime and not without a cooperative stand on the part of its\nforeign economic partners.\"\n    He stressed that the U.S. \"had a particular opportunity to\nplay a part in the cooperative policy of Poland\'s partners\ninterested in the settlement of Polish debt.\"\n    Putting it more sharply, one senior banking official blamed\nWashington for obstructing talks with the World Bank, IMF and\nParis Club of Western creditor governments in recent years and\nsaid it should now play a more positive role.\n    \"As a major superpower the United States can influence\ninternational organisations,\" he said, citing recent meetings\naimed at stabilising currencies as an example of the extent to\nwhich Western nations were prepared to cooperate.\n REUTER\n&#3;',0
'U.K. FOURTH QUARTER TRADE DEFICIT 2.6 BILLION STG Britain had a visible trade deficit of\n2.6 billion stg in the fourth quarter of 1986 against a revised\ndeficit of 2.9 billion in the third quarter, official\nstatistics show.\n    Seasonally-adjusted figures issued by the Central\nStatistical Office (CSO) show the current account was in\ndeficit by 760 mln stg against an upwardly revised third\nquarter shortfall of 930 mln.\n    For 1986 as a whole, visible trade was in deficit by 8.3\nbillion stg, sharply up from 1985\'s 2.2. Billion shortfall and\na 4.4 billion deficit in 1984.\n    Preliminary figures for invisible transactions in the\nfourth quarter show a surplus 1.8 billion stg to give an\nestimated surplus for 1986 of 7.2 billion. The fourth quarter\nfigure was in line with CSO projections released on Friday.\n    The third quarter invisibles surplus was revised down to\n1.9 billion stg from 2.25 billion.\n    In 1985 the invisibles surplus was 5.1 billion stg.\n    The reduced deficit on visible trade in the fourth quarter\nwas due to an increase in the surplus on oil of 200 mln stg and\na reduction in the non-oil trade deficit of 100 mln, the CSO\nsaid.\n    However, 1986\'s surplus on oil trade was 4.0 billion stg\nlower than in 1985, while the deficit on non-oil trade\nincreased by 2.1 billion.\n    The figures were broadly in line with market expectations.\n    The CSO stressed that figures for invisible transactions,\nparticularly for the most recent quarters are liable to\nsubstantial revisions as later information becomes available.\n REUTER\n&#3;',0
'BELGIAN WHOLESALE PRICES FALL IN JANUARY Belgian wholesale prices fell by 5.9\npct in January from a year earlier after a 5.7 pct year on year\nfall in December, figures from the economics ministry show.\n    A ministry spokesman said the wholesale price index, base\n1953 and excluding value added tax, stood at 250.9 in January.\nThis compared with 251.9 in December, 265.5 in Janua~y, 1986\nand 267.2 in December, 1985.\n    In January 1986, wholesale prices were 3.9 pct lower than a\nyear earlier.\n REUTER\n&#3;',0
'CARGILL U.K. STRIKE TALKS POSTPONED TILL MONDAY Talks set for today between management\nand unions to try to solve the labour dispute at Cargill U.K.\nLtd\'s Seaforth oilseed crushing plant have been rescheduled for\nMonday, a company spokesman said.\n    Oilseed processing at the mill has been at a standstill\nsince December 19.\n REUTER\n&#3;',0
'FRENCH INTERVENTION RATE CUT LIKELY, DEALERS SAY The Bank of France is likely to cut its\nmoney market intervention rate by up to a quarter point at the\nstart of next week.  This follows a steady decline in the call\nmoney rate over the past 10 days and signals from the Finance\nMinistry that the time is ripe for a fall, dealers said.\n    The call money rate peaked at just above nine pct ahead of\nthe meeting of finance ministers from the Group of Five\nindustrial countries and Canada on February 22, which restored\nconsiderable stability to foreign exchanges after several weeks\nof turbulence.\n    The call money rate dropped to around 8-3/8 pct on February\n23, the day after the Paris accord, and then edged steadily\ndown to eight pct on February 27 and 7-3/4 pct on March 3,\nwhere it has now stabilised.\n    Dealers said the Bank of France intervened to absorb\nliquidity to hold the rate at 7-3/4 pct.\n    While call money has dropped by well over a percentage\npoint, the Bank of France\'s money market intervention rate has\nremained unchanged since January 2, when it was raised to eight\npct from 7-1/4 pct in a bid to stop a franc slide.\n    The seven-day repurchase rate has also been unchanged at\n8-3/4 since it was raised by a half-point on January 5.\n    The Bank of France has begun using the seven-day repurchase\nrate to set an upper indicator for money market rates, while\nusing the intervention rate to set the floor.\n    Sources close to Finance Minister Edouard Balladur said\nthat he would be happy to see an interest rate cut, and dealers\nsaid any fall in the intervention rate was most likely to come\nwhen the Bank of France buys first category paper next Monday,\nalthough an earlier cut could not be excluded.\n   A cut in the seven-day repurchase rate could come as early\nas tomorrow morning, banking sources said.\n    They said recent high interest rates have encouraged an\nacceleration in foreign funds returning to France, discouraging\nthe authorities from making a hasty rate cut. But they also\npointed out that money supply is broadly back on target, giving\nscope for a small fall in rates.\n    M-3 money supply, the government\'s key aggregate, finished\n1986 within the government\'s three to five pct growth target,\nrising 4.6 pct compared with seven pct in 1985.\n REUTER\n&#3;',0
'U.K. GRAIN/POTATO FUTURES VOLUME DOWN IN FEBRUARY Traded volumes for U.K. Grain and potato\nfutures in February were down on the previous month while\npigmeat and pig cash settlement futures were higher, official\nfigures show.\n    Combined wheat and barley futures trade declined to 892,700\ntonnes from 1.19 mln in January, and the value fell to 97 mln\nstg from 129 mln, Grain and Feed Trade Association (GAFTA)\nfigures show.\n    A total of 984,960 tonnes were registered for main crop\npotato futures in February valued at 157 mln stg, versus\n992,760 and 164 mln stg in January.\n    Soymeal futures trade totalled 76,340 tonnes against 90,680\nin January, and value declined to nine mln stg from 10 mln.\n    Nine pigmeat contracts were traded in February, six more\nthan in the previous month, representing 450 carcases against\n150, valued at 29,347 stg against 9,847 stg.\n    Pig cash settlement futures saw 201 contracts traded,\nagainst 19 in January, and the value rose to 659,864 stg from\n119,610 stg.\n REUTER\n&#3;',1
'BUNDESBANK LEAVES CREDIT POLICIES UNCHANGED The Bundesbank left credit policies\nunchanged after today\'s regular meeting of its council, a\nspokesman said in answer to enquiries.\n    The West German discount rate remains at 3.0 pct, and the\nLombard emergency financing rate at 5.0 pct.\n REUTER\n&#3;',0
'TURKEY TO IMPORT 100,000 TONNES OF CRYSTAL SUGAR Turkey has announced a tender to import\n100,000 tonnes of white crystal sugar with an advertisement in\nlocal newspapers.\n    Turkish Sugar Factories said in the advertisement there was\na 50 pct option to increase or decrease the amount and bids\nshould reach it before March 24.\n    The semi-official Anatolian Agency recently quoted Turkish\nMinister of Industry and Trade Cahit Aral as saying Turkey will\nexport 100,000 tonnes of sugar this year and import the same\namount.\n REUTER\n&#3;',0
'U.K. MONEY MARKET GIVEN FURTHER SMALL ASSISTANCE The Bank of England said it provided the\nmoney market with a further 20 mln stg of assistance during the\nmorning. It again bought bills for resale to the market on\nApril 2 at a rate of 10-15/16 pct. Earlier this morning, it\nbought 17 mln stg of bills at the same rate and for resale on\nthe same date.\n    The Bank has thus given a total of 37 mln stg so far today,\nwhich leaves the bulk of a 1.15 billion stg shortage still in\nthe system. Dealers noted that money market rates again eased\nthis morning and the Bank may have refused bill offers from the\ndiscount houses at rates below its established dealing levels.\n REUTER\n&#3;',0
'ICE UNCHANGED AT SOVIET OIL PORT OF VENTSPILS Ice conditions are unchanged at the\nSoviet Baltic oil port of Ventspils, with continuous and\ncompacted drift ice 15 to 30 cms thick, the latest report of\nthe Finnish Board of Navigation said.\n    Icebreaker assistance to reach Ventspils harbour is needed\nfor normal steel vessels without special reinforcement against\nice, the report said.\n    It gave no details of ice conditions at the other major\nSoviet Baltic export harbour of Klaipeda.\n Reuter\n&#3;',0
'SWISS OFFERS NEW SERIES OF MONEY MARKET PAPER The Swiss Finance Ministry is inviting\ntenders for a new series of three-month money market\ncertificates to raise about 150 mln Swiss francs, the Swiss\nNational Bank said.\n    Bids would be due on March 10 and payment on March 12.\n    The last issue of three-month paper conducted on February\n12 yielded 2.969 pct.\n REUTER\n&#3;',0
'EGYPTIAN CENTRAL BANK DOLLAR RATE UNCHANGED Egypt\'s Central Bank today set the dollar\nrate for commercial banks for March 6 at 1.373/87 dollars,\nunchanged from the previous rate.\n REUTER\n&#3;',0
'BAKER INTERNATIONAL CORP SUES HUGHES TOOL SEEKING MERGER COMPLETION\n ',0
'USAIR GROUP REJECTS TRANS WORLD AIRLINES TAKEOVER BID\n ',0
'EARLY MARCH OPEC OUTPUT SEEN WELL BELOW CEILING OPEC crude oil output in the first few\ndays of March was running at about 14.7 mln bpd, down from a 16\nmln bpd average for February and well below the 15.8 mln bpd\nceiling the group adopted in December, a Reuter survey shows.\n    The figures were polled by Reuters correspondents from oil\ntraders, industry executives and analysts in Europe, the Middle\nEast, Africa, Latin America and Asia.\n    They back recent statements by OPEC ministers that the\ngroup is producing within its ceiling to support the return to\na fixed price system, which came into effect last month.\n    OPEC output for the whole of February was about 200,000 bpd\nabove the ceiling, largely because of overproduction by the\nUnited Arab Emirates and Kuwait, the figures show.\n    The UAE, together with the much smaller producer Ecuador,\nwas also producing above quota in the first days of March, the\nsurvey reveals.\n    But such overproduction was compensated for by a sharp fall\nin Saudi Arabian output, together with Iran\"s inability to\nexport as much as its quota allows.\n    Iraq rejected its OPEC quota of 1.466 mln bpd and produced\n1.75 mln bpd in February and early March, the figures showed.\n    Saudi output -- excluding movements into stocks -- fell to\n3.1 mln bpd in early March from 3.5 mln bpd in February,\nagainst a 4.133 mln bpd quota. The Saudi figures include a\n200,000 bpd share of Neutral Zone production.\n    Kuwait, which has consistently denied quota violations, was\nestimated to be pumping 1.4 mln bpd in February and 1.15 in\nearly March -- both figures including 200,000 bpd as its share\nof Neutral Zone output -- against its 948,000 bpd quota.\n    Reports of customer resistance to fixed prices set by some\nOPEC states were reflected in output from Qatar and Nigeria,\nboth substantially under quota in February and early March.\n    Qatar\'s February output was 230,000 bpd, and this fell to\n180,000 bpd in early March compared with its 285,000 bpd quota.\n    Industry sources say Japanese buyers are resisting Qatar\"s\nprices and Gulf Arab oil states have pledged to make up for any\nshortfall in sales which a fellow Gulf state suffers.\n    Nigeria\'s early March output was about one mln bpd, down\nfrom 1.14 mln bpd in February and its quota of 1.238 mln bpd.\n    Industry sources say Nigeria\'s customers believe its Bonny\ngrades are overpriced compared with compatible Brent crudes\nfrom the U.K. North Sea.\n    Country-by-country production figures are as follows, in\nmln bpd -\n COUNTRY        CURRENT        FEBRUARY    QUOTA\n ALGERIA        0.64           0.64        0.635\n ECUADOR        0.26           0.26        0.210\n GABON          0.15           0.15        0.152\n INDONESIA      1.16           1.16        1.133\n IRAN           1.80           2.20        2.255\n IRAQ           1.75           1.75        1.466\n KUWAIT         1.15           1.40        0.948\n LIBYA          0.95           0.95        0.948\n NIGERIA        1.00           1.14        1.238\n QATAR          0.18           0.23        0.285\n SAUDI ARABIA   3.10           3.50        4.133\n UAE            1.10           1.15        0.902\n VENEZUELA      1.50           1.50        1.495\n TOTAL          14.7           16.0        15.8\n REUTER\n Reuter\n&#3;',0
'BAKER &lt;BKO> SUES TO FORCE HUGHES &lt;HT> MERGER Baker International corp said it has\nfiled suit in state court in Houston to compel Hughes Tool Co\nto complete its proposed merger with Baker.\n    Late yesterday, Hughes said it had terminated the merger\nagreement because Baker would not agree to an alternative\ndivestiture plan devised by Hughes.  Hughes\' board had\npreviously found unacceptable a U.S. Justice Department consent\ndecree that would have required broader divestitures.\n    Baker said it has not obtained any satisfactory explanation\nfrom Hughes of its objections to the provisions of the Justice\nDepartment consent decree.\n    Hughes yesterday adjourned the special meeting at which\nshareholders were to vote on the merger without permitting the\ncounting of votes on the deal.  Baker said it believes the vote\nwas overwhelmingly in favor of the merger.\n    Baker said the new terms that Hughes proposed for the\nmerger, as an alternative to the consent decree, were \"more\nburdensome\" than those of the consent decree themselves.\n    Baker said divestitures under the consent decree would\nreduce revenues for the combined company by about 65 mln dlrs\nor three pct.\n    Baker said it will continue to pursue the divestitures of\nthe units named in the consent decree.\n    It said its suit names as defendants Hughes and certain of\nits directors and seeks either an injunction forcing Hughes to\nlive up to the merger agreement or \"substantial\" monetary\ndamages it did not name.\n    Baker said it believes the merger to be in the best\ninterests of shareholders of both companies.\n Reuter\n&#3;',0
'SPAIN DEREGULATES BANK DEPOSIT INTEREST RATES Spain\'s Finance Ministry deregulated bank\ndeposit rates in an effort to raise competition among banks and\nbring legislation into line with the European Community (EC), a\nministry spokesman said.\n    The measure was published today in the Official State\nGazette. It takes effect tomorrow and lifts restrictions on\nrates, now limited to six pct on deposits of up to 180 days.\n    The government also enacted a decree cutting to one pct\nfrom 13 pct the proportion of total assets which banks must\nlend at favourable rates to industries classified \"of public\ninterest.\"\n    Some bankers expect the deregulation of rates to result in\na 20 pct drop in profits this year.\n    Secretary of State for the Economy Guillermo de la Dehesa\ntold Reuters in a recent interview the reduction in fixed asset\ninvestments would offset losses from the rate liberalisation.\n REUTER\n&#3;',0
'USAIR &lt;U> REJECTS TWA &lt;TWA> TAKEOVER BID USAir Group Inc said its board has\nrejected Trans World Airlines Inc\'s offer to acquire USAir for\n52 dlrs per share in cash as grossly in adequate and not in the\nbest interests of USAir shareholders, employees or passengers.\n    The company said the unsolicited bid by the Carl C.\nIcahn-led TWA was \"highly conditional.\"\n    USAir said its board and that of Piedmont Aviation Inc\n&lt;PIE> met separately yesterday to consider USAir\'s offer to\nacquire 50.1 pct of Piedmont for 71 dlrs per share and\nremaining shares for 1.5 to 1.9 common shares each, valued at\nabout 73 dlrs per share based on the average closing price of\nUSAir common during a period just before the merger.\n    The company said it is continuing talks with Piedmont on\narriving at a definitive merger agreement and the two companies\nhope to reach one very shortly.\n    USAir said \"In light of the highly conditional nature and\nother terms of the TWA offer, the timing of the offer and the\ncircumstances under which it was made, USAir Group believes\nthat the purpose of the TWA offer is to interfere with USAir\nGroup\'s proposed acquisition of Piedmont.\n    \"TWA\'s proposal is nothing more than an attempt by Carl\nIcahn to disrupt at the eleventh hour USAir Group\'s acquisition\nof Piedmont, a transaction which the USAir Group board views as\nmost beneficial to USAir Group shareholders, employees and\npassengers and which Mr. Icahn obviously regards as contrary to\nhis own personal interests.\"\n    USAir said its board has authorized counsel to explore all\nappropriate legal remedies against what it called TWA\'s\nlast-minute attempt to interfere with USAir Group\'s acquisition\nof Piedmont.\n    The company said conditions to the TWA offer include TWA\nobtaining financing, the USAir board redeeming defensive rights\nissued to shareholders last year and acting to render the \"fair\nprice\" provision contained in USAir\'s charter inapplicable to\nthe TWA offer and Transportation Department approval.\n Reuter...\n&#3;',0
'U.S. FIRST TIME JOBLESS CLAIMS FALL IN WEEK New applications for unemployment\ninsurance benefits fell to a seasonally adjusted 332,900 in the\nweek ended Feb 21 from 368,400 in the prior week, the Labor\nDepartment said.\n    The number of people actually receiving benefits under\nregular state programs totaled 3,014,400 in the week ended Feb\n14, the latest period for which that figure was available.\n    That was up from 2,997,800 the previous week.\n     \n Reuter\n&#3;',0
'JAGUAR SEES STRONG GROWTH IN NEW MODEL SALES Jaguar Plc &lt;JAGR.L> is about to sell its\nnew XJ-6 model on the U.S. And Japanese markets and expects a\nstrong reception based on its success in the U.K., Chairman Sir\nJohn Egan told a news conference.\n    Commenting on an 11 pct growth in 1986 group turnover to\n830.4 mln stg and pre-tax profits at 120.8 mln stg, slightly\nbelow 1985\'s 121.3 mln, Egan said Jaguar aimed at an average\nprofit growth of 15 pct per year. However, the introduction of\nthe new model had kept this year\'s pre-tax profit down.\n    Jaguar starts selling XJ-6 in the U.S. In May and plans to\nsell 25,000 of its total 47,000 production there in 1987.\n    U.S. Sales now account for 65 pct of total turnover,\nfinance director John Edwards said.\n    A U.S. Price for the car has not been set yet, but Edwards\nsaid the relatively high car prices in dollars of West German\ncompetitors offered an \"umbrella\" for Jaguar. He added the XJ-6\nhad also to compete with U.S. Luxury car producers which would\nrestrict the car\'s price.\n    Jaguar hedges a majority of its dollar receipts on a\n12-month rolling basis and plans to do so for a larger part of\nits receipts for longer periods, John Egan said.\n    In the longer term, capital expenditure will amount to 10\npct of net sales. Research and development will cost four pct\nof net sales and training two pct.\n    Jaguar builds half of its cars and buys components for the\nother half. The firm is in early stages of considering the\nbuilding of an own press shop in Britain for about 80 mln stg,\nbut Egan said this would take at least another three years\n    On the London Stock Exchange, Jaguar\'s shares were last\nquoted at 591p, down from 611p at yesterday\'s close, after\nreporting 1986 results which were in line with market\nexpectations, dealers said.\n REUTER...\n&#3;',0
'CCC ACCEPTS BONUS BID ON WHEAT FLOUR TO IRAQ The Commodity Credit Corporation,\nCCC, has accepted bids for export bonuses to cover sales of\n25,000 tonnes of wheat flour to Iraq, the U.S. Agriculture\nDepartment said.\n    The department said the bonuses awarded averaged 116.84\ndlrs per tonne.\n    The shipment periods are March 15-April 20 (12,500 tonnes)\nand April 1-May 5 (12,500 tonnes).\n    The bonus awards were made to Peavey Company and will be\npaid in the form of commodities from CCC stocks, it said.\n    An additional 175,000 tonnes of wheat flour are still\navailable to Iraq under the Export Enhancement Program\ninitative announced January 7, 1987, the department said.\n Reuter\n&#3;',1
'DIAMOND SHAMROCK RAISES CRUDE POSTED PRICES ONE DLR, EFFECTIVE MARCH 4, WTI NOW 17.00 DLRS/BBL\n ',0
'NORD RESOURCES CORP &lt;NRD> 4TH QTR NET Shr 19 cts vs 13 cts\n    Net 2,656,000 vs 1,712,000\n    Revs 15.4 mln vs 9,443,000\n    Avg shrs 14.1 mln vs 12.6 mln\n    Year\n    Shr 98 cts vs 77 cts\n    Net 13.8 mln vs 8,928,000\n    Revs 58.8 mln vs 48.5 mln\n    Avg shrs 14.0 mln vs 11.6 mln\n    NOTE: Shr figures adjusted for 3-for-2 split paid Feb 6,\n1987.\n Reuter\n&#3;',0
'NO QUAKE DAMAGE AT CHUQUICAMATA - MINE SPOKESMAN The earthquake which hit northern Chile\ntoday, registering 7.0 on the open-ended Richter scale, caused\nno damage to the copper mine at Chuquicamata, a mine spokesman\nsaid.\n    Chuquicamata public relations director Guillermo Barcelo\ntold Reuters by telephone from the mine that the quake had\ncaused no problems and operations continued as usual.\n    A spokesman for the state Chilean Copper Commission in\nSantiago confirmed there had been no damage at Chuquicamata.\n Reuter\n&#3;',0
'ORBIT INCREASES OIL AND GAS RESERVE VALUES &lt;Orbit Oil and Gas Ltd> said\nthe value of its oil and gas reserves increased by 19 pct to\n52.6 mln dlrs from 44.2 mln dlrs reported at year-end 1985,\naccording to an independent appraisal.\n    Orbit said it has reserves of 2.4 mln barrels of oil and\nnatural gas liquids and 67.2 billion cubic feet of natural gas.\n    In addition, 75 pct owned &lt;Sienna Resources Ltd> has\nCanadian reserves of 173,000 barrels of oil and 1.6 bcf of\nnatural gas with a current value of 2.2 mln dlrs, Orbit said.\n Reuter\n&#3;',0
'CCC ACCEPTS BONUS BID ON SEMOLINA TO EGYPT The Commodity Credit Corporation,\nCCC, has accepted a bid for an export bonus to cover a sale of\n2,000 tonnes of semolina to Egypt, the U.S. Agriculture\nDepartment said.\n    The department said the bonus was 233.91 dlrs per tonne and\nwas made to International Multifoods Corp. The bonus will be\npaid in the form of commodities from CCC stocks.\n    The semolina is for shipment during June 1987, it said.\n    An additional 13,000 tonnes of semolina are still available\nto Egypt under the Export Enhancement Program initiative\nannounced on August 6, 1986, it said.\n Reuter\n&#3;',1
'FIVE GROUPS APPLY TO BUY FRENCH TELEPHONE GROUP Five consortia have applied to buy the\nFrench state-owned telephone equipment manufacturer &lt;Cie\nGenerale de Constructions Telephoniques (CGCT)>, which will\ngive the owners control of 16 pct of the French telephone\nswitching market, sources close to Finance Minister Edouard\nBalladur said.\n    The French government has given itself until the end of\nApril to decide which applicant will be accepted, they added.\n    While several foreign groups have said they want to gain a\nfoothold in the French market, their potential stake in CGCT is\nlimited to 20 pct under privatisation laws passed last year,\nwith 80 pct to be left in French hands.\n    The Finance Ministry sources gave no details of the groups\ninterested in CGCT, but several have publicly announced their\ncandidacies.\n    U.S. Telecommunications giant American Telephone and\nTelegraph Co &lt;T.N> which has been at the centre of the two-year\nbattle for CGCT, has teamed up with the Dutch-based &lt;Philips\nTelecommunications Industrie B.V.>, a subsidiary of NV Philips\nGloeilampenfabriek &lt;PGLO.AS> and &lt;Societe Anonyme de\nTelecommunications> (SAT) to present a joint bid, in\nassociation with holding company Cie du Midi SA &lt;MCDP.P> and\nfive French investment funds.\n    A second bid has come from the West German electronics\ngroup Siemens AG &lt;SIEG.F>, which hopes to take a 20 pct stake\nin CGCT, with the French telecommunications &lt;Jeumont-Schneider>\ntaking the remaining 80 pct.\n    Sweden\'s &lt;AB LM Ericsson> has also submitted a bid for the\nmaximum 20 pct permitted, in association with French defence\nelectronics group &lt;Matra>, which would hold between 40 and 49\npct, and construction group &lt;Bouygues>.\n    Matra has already acquired CGCT\'s private telephone\nbusiness.\nREUTER...\n&#3;',0
'BLIZZARD CLOSES BOSPHORUS Blizzard conditions halted shipping\nthrough the Bosphorus waterway and piled snow up to 70 cms deep\nin central Istanbul, paralysing the city for the second day\nrunning.\n    Snow whipped by 48 kph winds continued to fall on Istanbul\nand northwest Anatolia after 36 hours and weather reports\npredicted no relief for another two days.\n    Port officials said at least six large vessels in the Black\nSea and 13 in the Sea of Marmara were waiting for conditions to\nimprove.\n    Istanbul\'s Ataturk international airport has been closed\nsince yesterday.\n Reuter\n&#3;',0
'JAPAN FUND &lt;JPN> SEEKERS CONFIDENT OF FINANCING The &lt;Sterling Grace Capital Management\nL.P.> group said it is confident financing can be arranged if\nThe Japan Fund\'s board recommend\'s the group\'s acquisition\nproposal.\n    The group, which also includes &lt;Anglo American Security\nFund L.P.> and T.B. Pickens III, Tuesday proposed an entity it\ncontrols acquire for cash all the assets of Japan Fund for 95\npct of the fund\'s aggregate net asset value.\n    The group said it has had a number of meetings over the\npast few days with domestic and overseas financial institutions.\n    The Sterling Grace Capital group said certain of these\ninstitutions have expressed serious interest in providing\nfinancing for the proposed acquisition of Japan Fund, \"adding\nwe are reasonably confident that the financing can be quickly\narranged if the Japan Fund\'s board of directors is willing to\nrecommend the transaction to shareholders.\"\n Reuter\n&#3;',0
'PEGASUS GOLD INC &lt;PGULF> 3RD QTR DEC 31 NET Shr profit 20 cts vs loss two cts\n    Net profit 2,665,000 vs loss 202,000\n    Revs 12,141,000 vs 5,993,000\n    Nine mths\n    Shr profit 35 cts vs loss 11 cts\n    Net profit 4,653,000 vs loss 1,167,000\n    Revs 35.1 mln vs 18.0 mln\n Reuter\n&#3;',0
'&lt;KELTIC INC> YEAR NET Shr 99 cts vs 1.25 dlrs\n    Net 418,733 vs 235,572\n    Revs 2,777,425 vs 2,024,116\n    Note: 1986 shr after November, 1986 600,000 class A\nsubordinate floating share issue\n Reuter\n&#3;',0
'U.K. MONEY MARKET GIVEN HELP, OFFERED FACILITIES The Bank of England said it had given the\nmoney market 206 mln stg of assistance this afternoon and\noffered the discount houses borrowing facilities to take out\nthe rest of the 1.10 billion stg shortage, revised down from an\ninitial 1.15 billion estimate.\n    It made no alteration to its established dealing rates,\nbuying 95 mln stg of band one bank bills at 10-7/8 pct and 111\nmln of band two bank bills at 10-13/16 pct. This brings the\nBank\'s total assistance so far today to 243 mln stg.\n REUTER\n&#3;',0
'E.F. HUTTON &lt;EFH> STARTS PUROLATOR &lt;PCC> BID E.F. Hutton Group Inc said it has\nstarted its previously announced offer to purchase up to\n6,332,471 common shares of Purolator Courier Corp at 35 dlrs\neach.\n    In a newspaper advertisement, the company said the offer,\nproration period and withdrfawal rights will expire April One\nunless extended.  The offer is conditioned on receipt of at\nleast 5,116,892 Purolator shares, or a 66.7 pct interest, and\nis the first step in a merger agreement that has been approved\nby the Purolator board.\n    Hutton said it reserves the right to buy more than\n6,332,471 shares but has no present intention of doing so.  It\nsaid it may waive the condition that at least 5,116,892 shares\nbe tendered as long as it received at least a 50.1 pct\ninterest.  If it were to receive fewer shares than that, it\nsaid it would only purchase sharesd with the consent of\nPurolator.\n Reuter\n&#3;',0
'YEUTTER PUTS CURRENCY BURDEN ON TAIWAN, KOREA Responsibility for the appreciation of\nthe Taiwan dollar and the South Korean Won lies soley with\nthose countries, said U.S. trade representative Clayton Yeutter\n    Speaking to the Asia Society, Yeutter said that it is in\nthose countries\' own long-term interest to raise the value of\ntheir currencies against the dollar.\n    Yeutter was responding to a question about what the U.S.\ncould do to encourage appreciation of those currencies against\nthe dollar in order to reduce the large U.S. trade deficits\nwith Taiwain and Korea.\n    \"An undervalued currency will help those countries\' exports\nin the short term, but in the long run they have to be\nconcerned about how they are perceived in the international\nbusiness community,\" Yeutter said.\n    For Taiwan, Yeutter said that with its per capita trade\nsurplus with the U.S., much larger than that of Japan\'s, and\nwith huge foreign exchange reserves, it was difficult to defend\nthe high import tarrifs and other barriers that prevail in that\ncountry.\n    He also said that the south Korean Won should begin to move\nto reflect underlying economic fundamentals, \"otherwise in two\nor three years\' time, Korea will be in the same situation that\nprevails in Taiwan.\"\n    Turning to the U.S. deficit with Japan of more than 50\nbillion dlrs, Yeutter said that this situation was not\nsustainable.\n    \"Something must give soon. If not, there is a great threat\nof U.S. legislative action to counteract that trend,\" Yeutter\nsaid.\n Reuter\n&#3;',0
'PRINCEVILLE DEVELOPMENT CORP &lt;PVDC> YEAR LOSS Shr diluted loss 31 cts vs profit 17 cts\n    Net loss 2,806,005 vs profit 1,513,395\n    Revs 15.0 mln vs 10.4 mln\n    Avg shrs diluted 8,982,754 vs 8,804,899\n    NOTE: Current year includes loss of 3.4 mln dlrs from\ntakeover defense expenses. Also includes losses of 1.8 mln dlrs\nvs 332,000 dlrs from equity in limited partnerships.\n Reuter\n&#3;',0
'ORANGE-CO &lt;OJ> HOLDER RAISES STAKE Orange-Co Inc said its\nlargest shareholder, &lt;Summit Resoureces Inc>, has increased its\nstake to 15 pct from 14 pct and now owns 644,727 shares.\n Reuter\n&#3;',0
'HORIZON CORP &lt;HZN> 4TH QTR NET Oper shr profit 1.66 dlrs vs loss eight cts\n    Oper net profit 12.0 mln vs loss 572,000\n    Revs 27.4 mln vs 4,311,000\n    Year\n    Oper shr profit 1.36 dlrs vs loss 43 cts\n    Oper net profit 9,817,000 vs loss 2,433,000\n    Revs 35.0 mln vs 13.8 mln\n    Avg shrs 7,224,000 vs 6,731,000\n    NOTE: 1985 net includes tax credits of 492,000 dlrs in\nquarter and 2,433,000 dlrs in year.\n    1985 net both periods excludes 168,000 dlr loss from\ndiscontinued operations.\n    1986 net both periods includes pretax gain 21.8 mln dlrs\nfrom sale of remaining interest in Paradise Hills, N.M.,\ndevelopment.\n Reuter\n&#3;',0
'&lt;INTERNATIONAL THOMSON ORGANISATION LTD> YEAR Shr 33p vs 38p\n    Net 97 mln vs 111 mln\n    Revs 1.71 billion vs 1.76 billion\n    NOTE: Figures in sterling.\n    Share results after deducting preferred share dividends of\none mln pounds sterling in 1986.\n Reuter\n&#3;',0
'EQUATORIAL COMMUNICATIONS CO &lt;EQUA> 4TH QTR LOSS Shr loss 3.84 dlrs vs nil\n    Net loss 56,879,000 vs profit 23,000\n    Rev 10.3 mln vs 17.7 mln\n    Year\n    Shr loss 4.60 dlrs vs profit 14 cts\n    Net loss 67,818,000 vs profit 1,807,000\n    Rev 50.9 mln vs 56.1 mln\n    Avg shares 14,734,000 vs 12,801,000\n    NOTE: Fourth qtr net includes a one-time restructuring\ncharge of 45.2 mln dlrs. 1985 net income includes extraordinary\ngain of 3.2 mln dlrs, or 25 cts.\n Reuter\n&#3;',0
'INTERNATIONAL THOMSON ORGANISATION LTD YEAR SHR 33P VS 38P\n ',0
'TRIMEDYNE &lt;TMED> TO SPIN OFF STAKE IN UNIT Trimedyne Inc said it will\ndistribute one Class B common share of &lt;Automedix Sciences Inc>\nfor each four Trimedyne shares held of record on March Nine.\n    The company said in the spinoff it is distributing its\nentire 44 pct interesdt in Automedix.  The spun-off stock will\nnot be saleable for 13 months, the company said.\n Reuter\n&#3;',0
'CASEY\'S GENERAL STORES INC &lt;CASY> 3RD QTR JAN 31 Shr 16 cts vs 13 cts\n    Net 1,900,000 vs 1,600,000\n    Sales 68.2 mln vs 69.6 mln\n    Nine mths\n    Shr 60 cts vs 43 cts\n    Net 7,100,000 vs 4,700,000\n    Sales 214.0 mln vs 219.5 mln\n Reuter\n&#3;',0
'FRENCH FREE MARKET CEREAL EXPORT BIDS DETAILED French operators have requested licences\nto export 40,000 tonnes of free market feed wheat, 32,500\ntonnes of soft bread wheat, 375,000 tonnes of barley and\n465,000 tonnes of maize at today\'s European Community tender,\ntrade sources here said.\n    Rebates requested ranged between 134 and 136.50 European\ncurrency units (Ecus) a tonne for the feed wheat, 137.39 and\n141.50 Ecus a tonne for the bread wheat, 137.93 and 142.95 Ecus\nfor the barley and 133.75 and 140.25 Ecus for the maize.\n Reuter\n&#3;',1
'DIAMOND SHAMROCK &lt;DIA> RAISES CRUDE OIL POSTINGS Diamond Shamrock said it raised its\nposted prices for all grades of crude oil one dlr a barrel,\neffective yesterday.\n    The one dlr increase brings West Texas Intermediate, WTI\nthe U.S. benchmark crude, to 17.00 dlrs a bbl, the company\nsaid.\n    Diamond Shamrock joined Sun Co, Coastal, Citgo and Murphy\nOil in raising crude oil posted prices one dlr a barrel\nyesterday.\n Reuter\n&#3;',0
'OAK HILL SPORTSWEAR CORP &lt;OHSC> 4TH QTR NET Shr 27 cts vs 28 cts\n    Net 1,026,000 vs 1,025,000\n    Sales 27.8 mln vs 25.4 mln\n    Year\n    Shr 95 cts vs 16 cts\n    Net 3,682,000 vs 598,000\n    Sales 102.1 mln vs 100.4 mln\n    Avg shrs 3,858,000 vs 3,700,000\n Reuter\n&#3;',0
'OAK INDUSTRIES INC &lt;OAK> 4TH QTR LOSS Oper shr loss five cts vs loss 50 cts\n    Oper net loss 3,862,000 vs loss 15,900,000\n    Sales 42.6 mln vs 38.8 mln\n    Avg shr 72.1 mln vs 31.7 mln\n    Year\n    Oper shr loss 51 cts vs loss 2.10 dlrs\n    Oper net loss 30.3 mln vs 51.3 mln\n    Sales 151.7 mln vs 153.1 mln\n    Avg shrs 59.4 mln vs 24.4 mln\n    Backlog 57.1 mln vs 52.9 mln\n    NOTES: Operating losses exclude profits from discontinued\noperationgs of 1,000,000 dlrs, or one cent a share, vs\n2,493,000 dlrs, or eight cts a share, in quarter and 65.0 mln\ndlrs, or 1.09 dlrs a share, vs 13.7 mln dlrs, or 56 cts a\nshare, in year\n    1986 year operating loss also excludes extraordinary gain\nof of 25.6 mln dlrs, or 43 cts a share\n    Backlog, which includes only orders to be shipped within 12\nmths, was 63.0 mln dlrs on January 31. Orders to be shipped\nbeyond 12 mths were 27.6 mln dlrs vs 17.1 mln dlrs at December\n31\n Reuter\n&#3;',0
'REGIS CORP &lt;RGIS> REGULAR DIVIDEND SET Qtly div 4-1/2 cts vs 4-1/2 cts prior\n    Pay April 15\n    Record March 24\n Reuter\n&#3;',0
'MANNESMANN SEEKS STAKE IN U.S. FIRM Mannesmann AG &lt;MMWG.F>, the\ndiversified engineering and pipe-making group, is interested in\ntaking a stake in a U.S. Company or companies but has not yet\nfound a suitable firm, a spokesman said in reply to questions.\n    Mannesmann managing board chairman Werner Dieter told the\nbusiness weekly Wirtschaftswoche in an interview that\nMannesmann wanted to invest in a U.S. Company in order to\nstrengthen its presence on the U.S. Market.\n    Dieter said Mannesmann would act quickly when and if it\nfound a firm in which it wanted to take a stake.\n    The Mannesmann spokesman declined to say in which\nindustrial sector the group may make a U.S. Acquisition or how\nbig the acquisition might be.\n    He also said the group had not yet completed taking over a\nstake in car components firm &lt;Fichtel und Sachs AG>.\n    Mannesmann had said in January it hoped to take a 37.5 pct\nstake in Fichtel und Sachs\'s holding company, Sachs AG, in the\nfirst quarter. The spokesman said Mannesmann had a letter of\nintent on the takeover from the heirs of the company\'s late\nowner but completion has been delayed by legal questions\nconcerning the inheritance.\n REUTER\n&#3;',0
'AMERICAN INT\'L GROUP INC &lt;AIG> 4TH QTR NET Shr 1.83 dlrs vs 77 cts\n    Net 296.6 mln vs 120.1 mln\n    Year\n    Shr 4.90 dlrs vs 2.76 dlrs\n    Net 795.8 mln vs 420.5 mln\n    NOTE: Includes gains of 139.2 mln vs 46.8 mln in year and\n94.0 mln vs 11.6 mln from capital gains from investments.\n Reuter\n&#3;',0
'SYSTEMS FOR HEALTH CARE IN ONE-FOR-50 SPLIT Systems for Health Care Inc said it\nrepositioned the company through a one-for-50 reverse stock\nsplit.\n    It said there are now 3,002,500 common shares outstanding\nwith a quoted price of about 7/8 bid, compared to 150,125,000\nshares outstanding prior to the split.\n    In another recent development, Systems for Health Care\nformally changed its name to its present form from Orcas Corp.\n Reuter\n&#3;',0
'ROYAL DUTCH/SHELL U.S. EARNINGS SHARPLY LOWER Royal Dutch/Shell Group &lt;RD.AS> earnings\nfor 1986 from the U.S. Fell sharply because of difficult market\nconditions, lower crude and gas prices and also due to\ndifferent accounting methods, Shell chairman Peter Holmes said.\n    The Shell Oil dollar net income fell 47 pct in the year,\nwhile the additional effect of currency movements reduced the\ncontribution to group net income by 57 pct to 472 mln stg.\n    The group earlier reported a drop in net income for the\nyear to 2.54 billion stg from 3.03 billion previously, with\nlower crude prices outweighing the effect of increased sales by\nvolume.\n    Although the figures were lower, they were nonetheless at\nthe top end of market forecasts. Shell Transport and Trading\nPlc &lt;SC.L> shares, the U.K. Arm of the group, rose to 11.39 stg\nfrom a close last night of 11.06 stg. Analysts noted that a\ngeneral collapse in exploration and production volumes was\npartially offset by earnings from chemicals rising to 462 mln\nstg from 205 mln in 1985.\n    Also, a windfall tax credit and lower than expected\ncurrency losses had added about 100 mln stg onto fourth quarter\nresults, which was the main reason for the figures exceeding\nforecasts, industry analyst Chris Rowland of Barclays de Zoete\nWedd noted.\n    However, he added there could well be a sharp fall in\nperformance in the first quarter of 1987, due to the\nimprobability that the group would be able to repeat the high\nrefining and marketing margins of first quarter 1986.\n    The impact of recovering oil prices would come through\nfaster on the downstream side than on the upstream as such a\nhigh proportion of upstream activity centred on gas, which\ntypically reacted to oil price changes with about a half-year\nlag, analysts said.\n    Holmes said that in the upstream U.S. Sector the third\nquarter of 1986 had been the worst of all.\n    Only two of the oil majors had managed to make a profit in\nthe period, with Shell Oil being one of them. The decrease in\nU.S. Earnings had been accentuated by tax rates but the group\nhad increased share to become volume market leader, Holmes\nadded.\n    Continued low crude oil prices would continue to subdue\nU.S. Exploration activity. \"Exploration is currently pretty\nflat. We are going to go on, but at 16-18 dlrs there will be no\nmassive upturn,\" he said.\n    A renewal of exploration in high cost areas of the North\nSea and the U.S. Requires prices of around 25 dlrs a barrel.\n    Ultimately this would lead to a rise in U.S. Imports. \"If\nyou are not exploring you are not going to find anything,\" he\nnoted.\n    U.S. Oil production had dropped some half mln barrels a day\n(bbd) in 1986 and would continue to fall if the price stayed\nbelow 20 dlrs a barrel.\n    This favored OPEC\'s attempts to stabilise prices, as the\nlower the price the more likelihood there was of non-OPEC\nmarginal production shutting down. \"OPEC has done pretty\nextraordinarily well...Everything is moving in (its) direction,\"\nhe added.\n Reuter\n&#3;',0
'BANKERS WELCOME SPANISH RESERVE REQUIREMENT HIKE Bankers welcomed the Bank of Spain\'s\ndecision to raise the reserve requirement for banks and savings\nbanks, saying it reflected the socialist government\'s\ndetermination not to ease up in the fight against inflation\ndespite the painful social effects of four years of austerity.\n    The central bank last night raised the requirement by one\npercentage point to 19 pct from March 13, saying that excess\nliquidity threatened money supply and inflation targets.\n    Bankers said the move represented a change of tactic by the\nBank, which until now has relied on raising interest rates to\nchoke off money supply growth.\n    \"I think it\'s a good measure,\" a senior foreign banker said.\n\"It\'s a faster way to get the job done than using interest rates\nand avoids unpleasant effects on other areas of the economy.\"\n    \"It shows that the political will is very strong. They know\nthat controlling inflation will make industry more competitive\nand bring down unemployment in the long run,\" he added.\n    The head of another foreign bank said that only a month\nago, the Bank of Spain had dismissed his suggestion of a rise\nin reserve requirements, preferring to pursue its strategy of\nraising interest rates.\n    But bankers said the high real interest rates on offer now\n-- around eight pct for overnight funds -- was attracting money\nfrom abroad, strengthening the peseta and making Spanish\nexports less competitive.\n    The government says industry\'s competitiveness is also\nbeing hit hard by inflation. At 8.3 pct last year, the rate was\nway above that of Spain\'s major trading partners in the\nEuropean Community, which it joined a year ago.\n    To help meet this year\'s target of five pct, it is\ninsisting pay rises stay at that level, setting the stage for\nclashes with trade unions, who say they have made enough\nsacrifices.\n    Demonstrations by workers, students and farmers, whose\ndemands essentially involve more government spending, have\nbecome an almost daily occurrence. But Prime Minister Felipe\nGonzalez insists that the state is doing as much as it can.\n    Bankers said the reserve requirement increase could have\nsome impact on commercial lending rates but should not hit the\nmoney market too hard.\n    The Bank of Spain, which only yesterday raised its key\novernight call money rate to 13.5 pct, left it unchanged at\ntoday\'s auction. The rate has been increased nine times since\nthe start of the year, when it was below 12 pct.\n    Bankers said commercial lending rates were set to rise in\nany case with the end of the six pct maximium interest rate\nbanks can offer for time deposits of up to six months.\n    The measure will take effect tomorrow, following the\npublication of the decree in today\'s official gazette. Bankers\nsay the liberalisation will increase the cost of funds and,\ninevitably, push lending rates higher.\n    A companion measure, reducing the proportion of funds which\nbanks must invest in specific areas, also takes effect\ntomorrow. Officials said when the cut was approved last month\nthat it was aimed partly at compensating banks for higher\ninterest rates.\n REUTER\n&#3;',0
'GAMBRO AB &lt;GAMB ST> 1986 YEAR 133.5 mln crowns vs 101 mln.\n    Sales 1.61 billion vs 1.51 billion.\n    Proposed dividend 0.80 crowns vs 0.40 crowns.\n REUTER\n&#3;',0
'TRANSPORTATION AGENCY GIVES FINAL OKAY FOR US AIR PACIFIC SOUTHWEST ACQUISITION\n ',0
'S AFRICA MINE MANAGERS FACE CHARGES IN DISASTER Seven managers and employees at\nGeneral Mining Union Corp Ltd\'s Kinross Mines Ltd will face\ncharges of culpable homicide following last year\'s disaster\nwhen 177 gold miners died, the Attorney General\'s Office said.\n    The mineworkers were killed last September at Kinross when\na fire set off toxic fumes which suffocated miners underground.\n    Three of the accused face alternative charges of breaking\nsafety regulations set out in the Mines and Works Act.\n    The spokesman said the case would probably be heard in\nWitbank Regional Court, near Kinross, in mid-May.\n Reuter\n&#3;',0
'WESTERN CANADA HURT BY INTERNATIONAL FORCES Western Canada\'s resource-based economy\nis being hurt by international market forces and there is\nlittle Ottawa can do about it, Finance Minister Michael Wilson\nsaid.\n    \"If you can tell me how we can get the international energy\nprice up and how we can get the price for copper up and how we\ncan get the price for wheat up, then we will listen,\" Wilson\ntold the House of Comnons Finance Committee.\n    Although under pressure from oil companies and wheat\nfarmers for help in battling depressed commodity prices, Wilson\nsaid it has to be recognized the area was a \"prisoner of market\nforces outside the boundaries of this country.\"\n    Wilson, appearing before the committee to discuss the\ngovernment\'s spending estimates released earlier this week,\nsaid the government is doing what it can in the region, citing\nmore than 3.5 billion dlrs in aid for western agriculture.\n    \"Those resources are a reflection of very real concerns on\nour part in dealing with a very difficult problem,\" Wilson said\nin response to questions about management of the economy from\nopposition party members.\n    He said the long term answer for depressed regions of the\ncountry was reaching a free trade pact with the United States,\nwhich he claimed would improve the outlook for Western Canada.\n Reuter\n&#3;',1
'AMERICAN SOFTWARE &lt;AMSWA> SETS STOCK SPLIT American Software Inc said its board\ndeclared a three-for-two stock split on Class A and Class B\ncommon shares, payable March 31, record March 16.\n    The company said it expects to increase its semiannual\ndividend 12.5 pct to six cts per share post-split from eight\ncts pre-split.\n Reuter\n&#3;',0
'COMDATA &lt;CDN> IN MERGER AGREEMENT Comdata Network Inc said\nit has entered into a letter of intent with a limited\npartnership managed by Welsh, Carson, Anderson and Stowe (WCAS)\nto merge Comdata into a corproration to be formed by WCAS.\n    Comdata said in the merger each share of the company\'s\nstock would be converted at the holders election into either 15\ndlrs in cash or a combination of 10 dlrs in cash and a unit of\nsecurities including common stock.\n    Comdata said the terms are subject to the condition that\nWCAS\' affiliate investors would own a minimum of 60 pct of the\nfully diluted stock of the new entity.\n    Comdata said WCAS and its affiliate investors would commit\n50 mln dlrs to buy the securities comprising the new entities\nunits of securities resulting from the merger in the same\nproportions and at the same price as the company shareholders.\n    Comdata said the move is subject to execution of definitive\nagreement and approval by Comdata shareholders as well as\nobtaining up to 200 mln dlrs in debt financing.\n    WCAS told Comdata it believes that it can get commitments\nfor this financing.\n   \n Reuter\n&#3;',0
'SOYBEAN GROUP HEAD URGES USDA ACTION ON LOAN The Agriculture Department must make\na decision soon on how to change the current U.S. soybean loan\nor more soybeans will continue to be forfeited to the\ngovernment and foreign soybean production will increase, the\npresident of the American Soybean Association, ASA, said.\n    \"The USDA will have to bite the bullet one way or another\n... USDA can dodge and dart around it (the soybean loan) as\nmuch as they want, but they have to eventually address this\nproblem,\" David Haggard, ASA president, told Reuters.\n    USDA is not offering any new soybean loan options, and\nAgriculture Secretary Richard Lyng has not consulted ASA on the\nsoybean loan, Haggard said.\n    \"I don\'t know if USDA is really very serious about\naddressing the soybean loan problem,\" he said.\n    At ASA\'s annual winter board of directors meeting here, ASA\nleaders refused to change their official position on the  loan\n-- still calling for income support at 5.02 dlrs.\n    The association backs current bills of Rep. Bill Emerson,\nR-Mo. and Sen. Thad Cochran, R-Miss., which call for either a\n5.02 marketing loan or a producer option payment.\n    Haggard said he does not know what chances the ASA-backed\nproposals have but said, \"in all honesty, we do not want to see\nthe farm bill be torn apart.\"\n    He said if USDA feels it cannot withdraw its opposition to\na market loan, there are still numerous ways the USDA could\nchange the loan without new legislation.\n    Making the loan partially in certificates which would not\nhave to be paid back would be one option, he said.\n Reuter\n&#3;',0
'&lt;WAJAX LTD> YEAR NET Shr 78 cts vs 1.16 dlrs\n    Net 6.7 mln vs 9.5 mln\n    Revs 278 mln vs 290 mln\n Reuter\n&#3;',0
'AMERICAN SOFTWARE INC &lt;AMSWA> 3RD QTR JAN 31 NET Shr 42 cts vs 19 cts\n    Net 2,903,000 vs 1,307,000\n    Revs 13.1 mln vs 8,937,000\n    Avg shrs 6,877,360 vs 6,874,970\n    Nine mths\n    Shr 98 cts vs 62 cts\n    Net 6,740,000 vs 4,085,000\n    Revs 33.9 mln vs 27.8 mln\n    Avg shrs 6,875,706 vs 6,605,879\n Reuter\n&#3;',0
'NO SOVIET WHEAT BONUS TALK PLANNED FOR MEETING U.S. Agriculture Secretary Richard\nLyng does not intend to discuss a wheat export enhancement\ninitiative to the Soviet Union at a cabinet-level Economic\nPolicy Council meeting set for tomorrow, an aide to Lyng said.\n    \"He (Lyng) does not intend to bring it up,\" the aide said,\nadding that the subsidy offer remains \"dormant.\"\n    Lyng plans to spend \"about five minutes\" reviewing the status\nof farm legislation on Capitol Hill before the Economic Policy\nCouncil, which is responsible for guiding the administration\'s\neconomic policy, the aide said.\n    The USDA secretary met this morning with members of the\nHouse Foreign Affairs Committee, but the handful of lawmakers\npresent did not ask whether the administration intended to\noffer Moscow a wheat export bonus, the aide said.\n Reuter\n&#3;',1
'BANKAMERICA &lt;BAC> TO SELL GERMAN BANKING UNIT BankAmerica Corp said it agreed to\nsell &lt;Bankhaus Centrale Credit AG>, its German consumer banking\nsubsidiary, and German credit card operations to &lt;Banco de\nSantander> of Spain.\n    Terms were not disclosed. The deal is expected to close in\nthe second quarter, the bank holding company said.\n    Bankhaus Centrale Credit, with 31 branches, had total\nassets of 927 mln marks at year-end 1986. The credit card\noperation services 115,000 Visa card holders and 35,000\nmerchants in Germany, it said.\n    Reached later, a BankAmerica spokesman said the company\nwould record a pretax gain of 45 mln dlrs from the\ntransactions.\n    The spokesman declined, however, to disclose the price paid\nfor the operations by Banco de Santander or other terms of the\ndeal.\n Reuter\n&#3;',0
' French official reserves 375.95 billion francs end Jan (421.00 billion end Dec) - official\n ',0
'COPLEY PROPERTIES INC &lt;COP> 4TH QTR NET Shr 30 cts vs 36 cts\n    Net 1,211,000 vs 1,428,000\n    Revs 1,536,000 vs 1,743,000\n    Year\n    Shr 1.36 dlrs vs 62 cts\n    Net 5,438,000 vs 2,498,000\n    Revs 6,567,000 vs 2,971,000\n    NOTE: Company began operations after its July 29, 1985\npublic offering, therefore annual data are not directly\ncomparable.\n Reuter\n&#3;',0
'UNITIL CORP &lt;UTL> 4TH QTR NET Shr 79 cts vs 72 cts\n    Net 581,915 vs 536,040\n    Revs 13.9 mln vs 13.3 mln\n    Year\n    Shr 3.28 dlrs vs 3.21 dlrs\n    Net 2,413,407 vs 2,360,048\n    Revs 54.9 mln vs 54.2 mln\n Reuter\n&#3;',0
'RYDER &lt;RDR> BUYS BRITISH CALEDONIAN UNIT Ryder System Inc said it has acquired\nCaledonian Airmotive Ltd from &lt;British Caledonian Group PLC>\nfor undisclosed terms.\n    Caledonian Airmotive repairs and rebuilds aircraft engines.\n Reuter\n&#3;',0
'TRELLEBORG TAKE LARGER SLICE OF BOLIDEN Swedish tyres, process equipment and\ncomponents firm &lt;Trelleborg AB> said it was taking a larger\nstake in mining and metals concern Boliden AB &lt;BLDS.ST> than it\nhad originally intended.\n    Trelleborg had previously announced it was exercising an\noption to acquire up to 65 pct of Boliden\'s voting rights.\n    In a statement, the company said they had received offers\nof up to 68 pct of the rights, and that they would accept all.\n Reuter\n&#3;',0
'POLAROID &lt;PRD> UP ON REAFFIRMED OPINION Shares of Polaroid Corp rose following\na reiterated recommendation by Merrill Lynch and Co that\nfocused on strong earnings momentum for the company, traders\nsaid.\n    \"We have been recommending the stock since it was in the\n50s, but we reiterated today because of expectations of strong\nearnings momentum, its benefits from the lower dollar and\nanticipation of nice gains in margins,\" Merrill Lynch\nanalyst Charles Ryan said. He said a negative opinion by\nanother brokerage house hurt the stock Wednesday, and it can be\nbought at a relatively bargain price today.\n    Ryan said \"you always have to look at Polaroid at its\nweakness. Its a volatile stock that has to be caught on\nweakness.\" Polaroid\'s stock, which gained more than a point\nearly this morning, was trading at 76-1/8, up 5/8. It was down\nover three points Wednesday morning before closing down 7/8.\n    \"Polaroid is working overtime on production of cameras and\nfilm, so we expect first quarter earnings to be up about 40\npct,\" Ryan said, estimating earnings of 70 cts a share in the\nfirst quarter compared to 52 cts a share earned a year earlier.\nHe expects the company to earn four dlrs a share in 1987 as\ncompared to 3.34 dlrs a share last year.\n\n Reuter\n&#3;',0
'SWEDISH MATCH AB &lt;SMBS.ST> 1986 YEAR Profit after net financial items\n    500 mln crowns vs 359 mln\n    Sales 10.90 billion crowns vs 10.72 billion\n    Proposed dividend 12.50 crowns vs 10.50 crowns\n REUTER\n&#3;',0
'FRENCH OFFICIAL RESERVES FALL SHARPLY IN JANUARY French official reserves fell 45.06\nbillion francs to 375.95 billion at the end of January from\n421.00 billion at the end of December, the Finance Ministry\nsaid in a statement.\n    It said the fall was largely due to sales of foreign\ncurrency that preceded the January 11 realignment of the\nEuropean Monetary System (EMS).\n    Foreign currency reserves fell by 8.91 billion francs\nduring the month, the ministry said.\n    This reflected outflows of 10.26 billion francs through\noperations of the French exchange stabilisation fund,\ncounterbalanced by a gain of 1.35 billion francs resulting from\nthe quarterly adjustment in the value of dollar deposits held\nwith the European Monetary Cooperation Fund (FECOM).\n    But most of the decline reflected a 33.90 billion franc\ndeficit that France built up during the month with FECOM as a\nresult of using very short-term financing instruments.\n    The Bank of France, in conjunction with the Bundesbank and\nother central banks, intervened heavily in foreign exchange\nmarkets between late December and the January 11 EMS accord, in\nan attempt to hold down the mark, which was attracting a flight\nof funds from the dollar, and simultaneously shore up the\nfranc.\n    On January 11, the mark was revalued by three pct against\nthe French franc, relieving pressure on the French currency.\n    The fall in foreign exchange reserves took these reserves\nto 98.83 billion francs at the end of January from 107.74\nbillion at end December.\n    Gold reserves were unchanged at 218.45 billion francs.\n    Reserves of European Currency Units fell to 73.25 billion\nfrancs from 75.27 billion at end December.\n    Claims on the International Monetary Fund fell 219 mln\nfrancs to 19.31 billion francs.\n REUTER\n&#3;',0
'SL INDUSTRIES INC &lt;SL> 2ND QTR JAN 31 NET Oper shr 22 cts vs 20 cts\n    Oper net 1,153,000 vs 1,068,000\n    Revs 15.7 mln vs 15.8 mln\n    Six mths\n    Oper shr 38 cts vs 38 cts\n    Oper net 2,039,000 vs 2,051,000\n    Revs 31.4 mln vs 31.6 mln\n    NOTE: exlcudes 145,000 discontinued operations for 1986\noper net for six mths for sale of electronics division.\n    Oper shr for qtr and six mths 1986 adjusted for stock split\nand dividend distribution in November.\n Reuter\n&#3;',0
'GENERAL REFRACTORIES &lt;GRX> TO SELL OPERATIONS General Refractories Co said it\nagreed to sell its European refractories and building products\noperations for about 62 mln dlrs to an Austrian investor group.\n    The European operations had sales of 186 mln dlrs in 1985,\nthe last year for which results have been released, the company\nsaid.\n    The sale, to a group headed by Girozentrale Bank of\nAustria, is subject to shareholder approval by April 24, 1987,\nit said. Its board has approved the deal, it said.\n    General Refractories\' mineral operations are not affected.\n Reuter\n&#3;',0
'BRAZIL HAS NO SET COFFEE EXPORT TARGETS - IBC Brazil has no set target for\nits coffee exports following this week\'s breakdown of\nInternational Coffee Organization talks on export quotas,\nPresident of the Brazilian Coffee Institute, IBC, Jorio Dauster\nsaid.\n    He told a press conference Brazil now had to reconsider its\nexport plans and that the 15.5 mln bag export figure which it\nhad proposed for itself earlier should no longer be taken as\nthe country\'s export target to ICO-member countries.\n    The 15.5 mln bag offer had been made on the assumption an\nagreement would bring stability to world markets, he added.\n    It had been a gesture to ease negotiations, but the lack of\nan agreement leaves it no longer valid and exports could be\nabove or below 15.5 mln bags, he said.\n    Dauster said he would talk to producers, exporters and\nmarket analysts before taking any decision on export policy,\nbut any future policy would be flexible and adjusted to market\nconditions.\n    \"We will not take any short-term decisions which might cause\nmarkets to panic,\" Dauster added.\n    He said it would be a policy which shows Brazil has coffee\nto sell and that it could do so without an ICO agreement.\n    \"Brazil has coffee (to sell) and wants to show that it does\nnot need an ICO agreement as a crutch,\" Dauster said.\n    Commenting on the breakdown of the talks, Dauster said\nconsumer proposals would have implied a reduction of one to two\nmln bags in Brazil\'s export quotas.\n    \"It was a proposal which would lead to a substantial loss\nfor Brazil and which would be difficult for the country to\nrecover,\" he said.\n    The consumer proposal to base quotas on a six-year moving\naverage of exportable production surpluses would lead to\noverproduction as countries boosted output to win higher\nquotas, he said.\n    Dauster rejected reports which said Brazil\'s inflexibility\nhad been the cause for the breakdown of talks, noting that its\nstance had the backing of 85 pct of producing countries.\n    Close links would continue with these producers,\nparticularly Colombia, Mexico and Francophone African\ncountries, but Dauster said no joint marketing action was\nenvisaged at present.\n    He also said Brazil currently had no plans to return to a\nsystem of roaster buying contracts, although \"no hypothesis has\nbeen abandoned.\"\n    Dauster said he had not yet decided when registrations for\nMay shipment coffee will be opened.\n    He declined comment on whether the IBC will adopt a policy\nof opening registrations for up to six months in advance, as\nsome exporters had suggested.\n    He noted export registrations for the first four months of\nthe year totalled around 5.5 mln bags, more than half the 9.9\nmln exported in 1986 when drought reduced the crop to between\n11.2 mln and 12 mln bags.\n    He said that, although he had heard forecasts of 30 mln\nbags for the coming crop, the IBC would not make any estimate\nuntil late April.\n Reuter\n&#3;',0
'PEPSICO &lt;PEP> UPGRADED BY KIDDER PEABODY Kidder Peabody and Co analyst Roy Burry\nissued a strong buy recommendation on Pepsico Inc, citing an\nimproved profit outlook for both domestic soft drinks and\nFrito-Lay snack foods.\n    Pepsico climbed 7/8 to 34-3/4 on 615,000 shares by\nmidmorning.\n    Burry forecast earnings of 2.00 dlrs per share in 1987 and\n2.30 dlrs in 1988. In 1986 the company earned 1.75 dlrs per\nshare. Burry previously had a sell recommendation on Pepsico.\n\"We\'re looking at 10 to 15 pct earnings growth for Frito-lay in\n1987, a trend that should continue through the decade.\"\n Reuter\n&#3;',0
'SHAD SEES PROGRESS ON INSIDER TRADING Securities and Exchange Commission\nchairman John Shad said progress was being made in stopping\ninsider trading, but the chairman of a House subcommittee with\njurisdiction over securities laws said he was concerned about\nconditions on Wall Street.\n    \"Greed has created a feeding frenzy on Wall Street and in\nthe process laws are broken and multi-billion dlr corporations\nhave become easy prey,\" Rep. Edward Markey, D-Mass, the\nchairman of the Telecommunications and Finance said at the\nstart of a hearing on SEC activities.\n    \"Congress is understandably nervous. We perceive the\ncurrent scandals as a warning of even worse things to come,\"\nMarkey said. \"The frenzy and disruption created by merger mania\nis particularly distressing.\"\n    Shad said the recent cases involving Ivan Boesky, Dennis\nLevine and others was a warning that those who engage in\ninsider trading were taking a heavy risk of imprisonment, high\nfines and disbarment from the securities industry.\n    \"Insider trading has not been eradicated, but it has been\ninhibited and multimillions of dollars of profits that Boesky\nand others have been siphoning off the markets are now flowing\nthrough to legitimate investors and traders,\" Shad said in his\nstatement.\n    Shad said insider trading cases involved only 10 pct or\nless of SEC enforcement actions in recent years but they have\nincreased significantly to 125 cases brought during the past\nfive years compared to 77 cases in the preceeding 47 years.\n    Markey said he did not favor banning takeovers but thought\nthe tender offer process needed reform including earlier\ndisclosure of takeover attempts.\n    N.J. Rep. Mathew Rinaldo, the senior subcommittee\nRepublican, said he was introducing legislation to create a\nfive member commission to study the securities industry for a\nyear and report its findings and recommendations to Congress.\nCommission members would be appointed by the SEC.\n    \"Its primary mission would be to analyze the extent of\nillegal trading on insider trading and to assess the adequacy\nof existing surveillance systems and government oversight\noperations. The commission would advise Congress as to what\nadditional resources or civil or criminal remedies are needed\nto combat fraud and improve compliance with federal laws,\"\nRinaldo said.\n Reuter\n&#3;',0
'OPEC SAYS FEBRUARY OUTPUT UNDER CEILING OPEC output in February was \"well below\"\nthe 15.8 mln bpd ceiling it set in December and all countries\nare strictly adhering to their quotas, the OPEC news agency\nOpecna quoted an OPEC secretariat official as saying.\n    The official was quoted as saying that lower output was the\nresult \"of member countries\' firm determination to defend the\norganisation\'s official price of 18 dlrs per barrel, and to\nrefrain from selling any quantity below that price.\"\n    The unnamed official was further quoted as saying that no\nOPEC meeting was foreseen before the next biannual OPEC session\nplanned to start on June 25.\n    The official gave no figure for February output. The\nstatement said only that \"the reduction in total supplies,\nnamely actual exports of crude oil and products, plus local\ndeliveries in member countries, is even more pronounced as\nthose supplies fell very noticeably during that month.\"\n    \"No matter what the pressure on member countries by lifters\nto align the official selling price to the ongoing market\nprice, member countries are, without exception, strictly\nadhering to the official selling price in spite of the\nfinancial hardship this may entail,\" the statement said.\n    \"The very recent improvement in the price structure is an\nindicator of such determination by the organization to stick to\nthe official selling price,\" the statement said.\n    Free spot market prices rose from around 14.50 dlrs a\nbarrel in early December last year to near OPEC\'s official\nlevels towards the end of the year, after the OPEC pact.\n    There has been oil industry speculation that OPEC might\nhave to hold an extraordinrary meeting prior to its scheduled\nJune session to discuss reports of overproduction by some\nstates and strains on the differential matrix, which prices\neach OPEC crude according to its quality and distance from main\nmarkets.\n    The official said in the statement that no such emergency\nsession was scheduled \"because of member countries\' firm\ndetermination to defend the price (system)\" agreed in December.\n    Opec\"s differential committee was to have met in Vienna\nstarting April 2 but this session has been postponed, with no\nnew date set, according to an official of the United Arab\nEmirates, which chairs the seven-state body.\n    Other members are Algeria, Kuwait, Saudi Arabia, Libya,\nNigeria and Qatar.\n REUTER\n&#3;',0
'CANADIAN IMPERIAL BANK OF COMMERCE 1ST QTR SHARE BASIC 61 CTS VS 64 CTS\n ',0
'PERKIN-ELMER &lt;PKN> ACQUIRES HIGH TECH FIRM Perkin-Elmer Corp said it\nacquired &lt;Atomika Technische Physik>, based in Munich, West\nGermany, a high technology concern specializing in surface\nscience instruments.\n    Terms of the acquisition were not disclosed.\n    It said Atomika will became a part of its Physical\nElectronics Division, based in Eden Prairie, Minn., The\ndivision is part of its Materials Surface Technology Group.\n Reuter\n&#3;',0
'U.S. OKAYS USAIR &lt;U> PACIFIC SOUTHWEST PURCHASE The U.S. Department of Transportation\nsaid it gave final approval to USAir Group\'s proposed 400 mln\ndlr acquisition of Pacific Southwest Airlines.\n    The department said the acquisition is not likely to\nsubstantially lessen competition and would not harm the public\ninterest.\n    The department had given its tentative approval of the\nacquisition in January.\n    The department said it decided to make final its tentative\ndecision after reviewing the public response to it.\n    The agency said it rejected an assertion by Air North\nAmerica, which currently is not operating but plans to start\nservice to some of the cities served by USAIR and PSA, that the\nacquisition would lessen chances of new entry into those\nmarkets by other carriers.\n    The agency said Air North America provided no support for\nits claim that the transaction would give the two carriers\nmonopoly power in some markets.\n    The transportation agency said Air North America also\nfailed to show that there are barriers that would prevent new\nentrants into those markets or prevent other carriers from\nincreasing their service.\n    The agency noted in its final order that PSA operates\nexclusively in the West and Mexico while USAir serves the West\nfor the most part with some long-haul flights from the East and\nMidwest.\n    The two carriers serve five point in common; Los Angeles,\nSan Diego, San Francico, Phoenix and Tucsonm, the agency said.\n     The transportation department also rejected a request by\nthe Teamsters Union, which represents some PSA workers, to\nrequire protections for PSA workers.\n    The agency noted that USAir has promised to give protective\nbenefits to PSA workers and that unions representing PSA\nworkers have collective bargaining agreements that provide such\nprotections.\n Reuter\n&#3;',0
'MCI &lt;MCIC> PRESIDENT SEES PROFIT IMPROVEMENT MCI Communications Corp President\nBert Roberts said he expects MCI\'s financial performance to\nimprove in the current quarter compared to the previous\nquarter.\n    He said American Telephone and Telegraph Co long-distance\nrate cuts had cut into MCI\'s fourth quarter performance but\nadded: \"There\'s going to be a continuing impact (on profits) but\nwe expect this quarter to be better than the fourth quarter.\"\n    The current quarter ends March 31.\n    For the fourth quarter, MCI reported a 448 mln dlr loss,\ndue mainly to write-offs and staff reductions.\n    Roberts said the ATT long-distance rate reductions, which\nhad been ordered by the Federal Communications Commission have\nhad \"A significantly negative impact on our profits.\"\n    As reported earlier today, MCI said it plans to ask the FCC\nto immediately deregulate ATT, apparently in hopes that an\nunregulated ATT would pocket a greater proportion of its\nrevenues rather than cut rates further.\n Reuter\n&#3;',0
'NATIONAL GYPSUM CO 4TH QTR NET Net 5,521,000 vs NA\n    Revs 358.1 mln vs 359.0 mln\n    Year\n    Net 55.3 mln vs NA\n    Revs 1.43 billion vs 1.34 billion\n    NOTE: Current year includes earnings of 49.6 mln dlrs for\nthe four months ended April 30, 1986. Year-ago earnings not\ncomparable because of acquisition by Aancor Holdings Inc on\nApril 29, 1986.\n Reuter\n&#3;',0
'ZAYRE CORP 4TH QTR SHR 73 CTS VS 60 CTS\n ',0
'&lt;DET OESTASIATISKE KOMPAGNI A/S> (EAST ASIATIC CO) Results for year 1986 -\n    Group pre-tax profit 385 mln crowns vs 380 mln\n    Net turnover 14.17 billion crowns vs 16.69 billion\n    Dividend eight pct vs nil\n    Group profit after tax 16 mln crowns vs 244 mln\n Reuter\n&#3;',0
'&lt;SIGNTECH INC> NINE MTHS JAN 31 NET Shr 55 cts vs 24 cts\n    Net 1.9 mln vs 800,000\n    Revs 17.6 mln vs 12.8 mln\n Reuter\n&#3;',0
'&lt;CANADIAN IMPERIAL BANK OF COMMERCE> 1ST QTR Period ended January 31\n    Shr 61 cts vs 64 cts\n    Shr diluted 60 cts vs 60 cts\n    Net 96.5 mln vs 87.0 mln\n    Loans 44.87 billion vs 48.07 billion\n    Deposits 69.86 billion vs 68.45 billion\n    Assets 83.92 billion vs 78.93 billion\n    Note: shr after preferred dividends\n Reuter\n&#3;',0
'&lt;TRIUMPH CAPITAL INC> TO MAKE ACQUISITION Triumph Capital Inc said it has signed a\nletter of intent to acquire First Securities Transfer Systems\nInc of Pompano Beach, Fla., for undisclosed terms.\n    The company said it is also entering the commercial finance\nbusiness through the formation of Triumph Financial corp.\n    It said the new wholly-owned unit has extended a 350,000\ndlr secured line of credit to Micro Designs Inc.\n Reuter\n&#3;',0
'CONCHEMCO INC &lt;CKC> SETS QUARTERLY Qtly div 10 cts vs 10 cts prior\n    Pay April Six\n    Record March 16\n Reuter\n&#3;',0
'DST SYSTEMS INC &lt;DSTS> REGULAR PAYOUT SET Qtly div five cts vs five cts prior\n    Pay April 17\n    Record March 16\n Reuter\n&#3;',0
'FED NOT EXPECTED TO TAKE MONEY MARKET ACTION The Federal Reserve is not expected to\nintervene in the U.S. government securities market to add or\ndrain reserves, economists said.\n    Most economists said they did not expect the Fed to add\nreserves with Federal funds trading below six pct.\n    They said the funds rate\'s softer tone may indicate that\nthe need to add reserves in the current bank reserve\nmaintenance period is smaller than previously estimated.\n    Fed funds opened at 5-15/16 pct and remained at that level.\nYesterday funds averaged 6.01 pct.\n Reuter\n&#3;',0
'BROWN GROUP INC 4TH QTR SHR 77 CTS VS 76 CTS\n ',0
'REGAL INTERNATIONAL &lt;RGL> UPS BELL &lt;BPSIQ> BID Bell Petroleum Services Inc said\nRegal International Inc has doubled its offer for Bell stock to\none Regal share for each Bell share from half a share\npreviously.\n    The company said it is seriously considering the new offer\nbut has also received an expression of interest for a possible\nmerger into a Fortune 500 company it did not identify that will\nbe investigated at meetings to be held later this week.\n    It said it will explore all possibilities before\nrecommending a final course of action.\n Reuter\n&#3;',0
'EQK GREEN ACRES LP &lt;EGA> RAISES QUARTERLY Qtly div 26-1/4 cts vs 25 cts prior\n    Pay Aug 14\n    Record June 30\n Reuter\n&#3;',0
'MERCANTILE STORES CO INC 4TH QTR SHR 3.26 DLRS VS 3.17 DLRS\n ',0
'WINLAND ELECTRONICS INC 4TH QTR LOSS Shr loss one ct vs profit 15 cts\n    Net loss 10,863 vs profit 176,344\n    Revs 672,073 vs 766,066\n    Year\n    Shr loss seven cts vs loss one ct\n    Net loss 77,804 vs loss 16,627\n    Revs 1,717,810 vs 1,317,402\n Reuter\n&#3;',0
'ANTIBIOTICS IN FEED AID DEADLY BACTERIA: STUDY A study of salmonella poisoning has\nuncovered new evidence that the common practice of feeding\nantibiotics to cattle is helping to create deadly bacteria that\ncan infect humans and resist medicines.\n    Researchers at the federal Centers for Disease Control\ntracked the spread of an unusual strain of salmonella that is\nresistant to the drug chloramphenicol and were able to link the\nresulting food poisoning to farms that used the drug to promote\nthe growth of cattle.\n    Cattlemen often give their animals a constant supply of\nantibiotics in feed to help them grow faster. But critics have\nbeen warning for years that the constant exposure to the drugs\nis helping bacteria learn to resist the drugs.\n    Industry officials have disputed this, saying the diseases\nthat develop a resistance in cattle probably do not affect\nhumans.\n    But the new study, reported in Thursday\'s New England\nJournal of Medicine, shows the diseases can spread to humans.\n    The research team, led by Dr. John Spika, said the number\nof people who have developed the chloramphenicol-resistant\ninfection in Los Angeles County alone jumped from 69 in 1984 to\n298 the following year. Two of those victims died and half the\nvictims in their study of 45 patients had to be hospitalized\nfor their illness.\n    They also discovered that cooking the meat didn\'t always\nprevent the disease. Only 15 pct of the victims reported eating\nraw, infected hamburger. Thus, the researchers concluded, \"the\nmajority of cases appear to have been caused by eating\nhamburger that was at least partially cooked.\"\n    The researchers said the results show that \"food animals are\na major source of antimicrobial-resistant salmonella infections\nin humans, and that these infections are associated with\n(antibiotic) use on farms.\"\n Reuter\n&#3;',0
'EC REJECTS ALL FREE MARKET WHEAT EXPORT  OFFERS AT WEEKLY TENDER - TRADERS\n ',1
'EC AWARDS 123,000 TONNES BARLEY EXPORT  LICENCES AT 138.75 ECUS PER TONNE - TRADERS\n ',1
'FRENCH CEREAL EXPORTS THROUGH ROUEN FALL French cereal exports through the port of\nRouen fell 6.4 pct to 725,023 tonnes during the period February\n1 to 25, from 774,704 for the period February 1 to 26 last\nyear, trade sources said.\n    Main destinations were Saudi Arabia with 158,109 tonnes of\nbarley, the Soviet Union 147,214 of wheat, Italy 104,704 of\nwheat, Spain 91,381 of wheat and maize, China 52,500 of wheat\nand Algeria 41,000 of wheat.\n    Between February 26 and today, five ships have loaded\n137,000 tonnes of cereals, the sources added.\n    The 137,000 tonnes comprised 59,500 tonnes of wheat for\nChina, 53,000 of wheat for the Soviet Union and 24,500 of wheat\nfor Algeria.\n    By this Friday, sources estimated a further 233,600 tonnes\nof cereals will have been loaded, comprising 47,000 tonnes of\nbarley, 78,600 of wheat and 25,000 of rapeseed for the Soviet\nUnion, 30,000 of wheat for Sri Lanka, 28,000 of wheat for China\nand 25,000 of wheat for Poland.\n Reuter\n&#3;',1
'NATIONAL CONVENIENCE &lt;NCS> TO HAVE 3RD QTR LOSS National Convenience Stores Inc said it\nexpects to report a loss for the third quarter ending March 31\ndue to continued poor sales in Texas, especially in Houston.\n    In last year\'s third quarter, National Convenience earned\n1,788,000 dlrs or eight cts per share, including a gain of\n2,883,000 dlrs from the sale of 186 stores to another operator.\n It said the results also included earnings from gasoline\noperations of 2,500,000 dlrs or 11 cts per share caused by\nunusually high gross margins on gasoline sales of 12.7 cts per\ngallon that were caused by rapidly falling oil prices.\n    National Convenience said its third quarter is usually weak\ndue to winter weather.\n Reuter\n&#3;',0
'MARATHON RAISES CRUDE POSTED PRICES 50 CTS A BBL, EFFECTIVE TODAY, WTI AT 17 DLRS/BBL.\n ',0
'REPORT DUE ON OIL IMPORTS AND NATIONAL SECURITY A presidential commission that has\nbeen studying oil imports, including their effect on national\nsecurity, is to to make its report soon, the White House said.\n    Spokesman Marlin Fitzwater said the panel, set up last\nOctober to examine U.S. oil import needs, would make its report\nsoon, probably within the next few weeks.\n    He said National Security Adviser Frank Carlucci \"will wait\nuntil that report is in and then see if there is any special\naction needed to be taken in the national security area to\nimplement it.\"\n Reuter\n&#3;',0
'CHRYSLER SETS THREE-FOR-TWO STOCK SPLIT, RAISES DIVIDEND\n ',0
'U.S. COMMERCE DEPT\'S ORTNER SAYS YEN IS 10 OR 15 PCT UNDERVALUED\n ',0
'U.S. COMMERCE DEPT\'S  ORTNER SAYS DOLLAR FAIRLY PRICED AGAINST EUROPEAN CURRENCIES\n ',0
'BROWN GROUP INC &lt;BG> 4TH QTR JAN 31 NET Shr 77 cts vs 76 cts\n    Net 13,843,000 vs 14,478,000\n    Sales 374.6 mln vs 368.3 mln\n    Avg shrs 18,003,000 vs 19,025,000\n    Year\n    Shr 2.16 dlrs vs 2.65 dlrs\n    Net 39,503,000 vs 51,573,000\n    Revs 1.41 billion vs 1.41 billion\n    Avg shrs 18,269,000 vs 19,497,000\n    NOTE: 1986 period ended February One\n    Company changed fiscal yearend to January 31 from October\n31. 1986 results were restated to reflect the change.\n Reuter\n&#3;',0
'EC AWARDS EXPORT LICENCES FOR 25,000  TONNES MAIZE - PARIS TRADE.\n ',1
'ZAMBIAN LATE 1986 COPPER OUTPUT UP, SALES DOWN Zambian copper production rose 3.2 pct to\n113,275 tonnes in fourth quarter 1986 from 109,767 in the same\n1985 period but sales fell 18.7 pct to 119,967 tonnes from\n147,537, Zambia Consolidated Copper Mines, ZCCM, said.\n    A spokesman for the government-controlled mining company\nsaid the country\'s cobalt production fell 24 pct to 879 tonnes\nover the same period, while cobalt sales rose 92 pct to 1,734\ntonnes. He did not give figures for the fourth quarter of 1985.\n    Lead production fell 22.9 pct to 1,670 tonnes from 2,165\nand zinc production dropped 14 pct to 4,830 tonnes, he added.\n    ZCCM, which monopolises copper mining in Zambia and\naccounts for about 90 pct of the country\'s foreign exchange\nearnings, made a net loss of 718 mln kwacha in 1986 compared\nwith a net profit of 19 mln kwacha the previous year.\n    The 1986 losses were after taking into account net interest\npayments of 426 mln kwacha, an exchange loss of 412 mln kwacha\nand taxes of 235 mln kwacha.\n Reuter\n&#3;',0
'BAD WEATHER CLOSES ALEXANDRIA PORT, OIL TERMINAL Strong winds and high seas\ntoday closed Alexandria, Egypt\'s biggest port, and an oil\npipeline terminal nearby, officials said.\n    Facilities of the Suez-Mediterranean Arab Petroleum\nPipelines Company at Sidi Kreir, 32 km southeast of Alexandria,\nwere closed this morning after one tanker loaded and sailed.\n    Officials said that five other tankers were waiting outside\nthe terminal for conditions to improve.\n Reuter\n&#3;',0
'PEGASUS GOLD INC &lt;PGULF> 4TH QTR NET Shr profit 20 cts vs loss two cts\n    Net profit 2,665,000 vs loss 202,000\n    Revs 12.1 mln vs 5,993,000\n    Year\n    Shr profit 35 cts vs loss 11 cts\n    Net profit 4,653,000 vs loss 1,167,000\n    Revs 35.1 mln vs 18.0 mln\n    NOTE: Current qtr includes gain of 1.1 mln dlrs from tax\nbenefit.\n Reuter\n&#3;',0
'U.S. COMMERCE\'S ORTNER SAYS YEN UNDERVALUED Commerce Dept. undersecretary of\neconomic affairs Robert Ortner said that he believed the dollar\nat  current levels was fairly priced against most European\ncurrencies.\n    In a wide ranging address sponsored by the Export-Import\nBank, Ortner, the bank\'s senior economist also said he believed\nthat the yen was undervalued and could go up by 10 or 15 pct.\n    \"I do not regard the dollar as undervalued at this point\nagainst the yen,\" he said.\n    On the other hand, Ortner said that he thought that \"the yen\nis still a little bit undervalued,\" and \"could go up another 10\nor 15 pct.\"\n    In addition, Ortner, who said he was speaking personally,\nsaid he thought that the dollar against most European\ncurrencies was \"fairly priced.\"\n    Ortner said his analysis of the various exchange rate\nvalues was based on such economic particulars as wage rate\ndifferentiations.\n    Ortner said there had been little impact on U.S. trade\ndeficit by the decline of the dollar because at the time of the\nPlaza Accord, the dollar was extremely overvalued and that the\nfirst 15 pct decline had little impact.\n    He said there were indications now that the trade deficit\nwas beginning to level off.\n    Turning to Brazil and Mexico, Ortner made it clear that it\nwould be almost impossible for those countries to earn enough\nforeign exchange to pay the service on their debts.  He said\nthe best way to deal with this was to use the policies outlined\nin Treasury Secretary James Baker\'s debt initiative.\n Reuter\n&#3;',0
'EC REJECTS WHEAT EXPORT BIDS, GRANTS BARLEY The European Community\'s cereal\nmanagement committee rejected all bids to export free market\nsoft wheat at today\'s weekly tender, traders said.\n    The committee awarded 123,000 tonnes of free market barley\nexport licences at a maximum export refund of 138.75 Ecus per\ntonne.\n&#3;',1
'CORNING GLASS WORKS &lt;GLW> UNIT TRANSFERS STOCK Corning Glass Works\' subsidiary\nCorning International Corp said it agreed to transfer 55 pct of\nits capital stock of an Argentine glass manufacturer to a\nEuropean group.\n    It said it will transfer the capital stock of Rigolleau,\nS.A., to the group controlled by Camillo Gancia, an Argentine\nindustrialist.\n    The company said the transaction would reduce Corning\'s\nownership in Rigolleau to approximately 20 pct. The company\nsaid the change will not impact on its net income for th year.\n Reuter\n&#3;',0
'ZAYRE CORP &lt;ZY> 4TH QTR JAN 31 NET Shr 73 cts vs 60 cts\n    Net 43,792,000 vs 36,480,000\n    Rev 1.78 billion vs 1.34 billion\n    Year\n    Shr 1.49 dlrs vs 1.61 dlrs\n    Net 88,974,000 vs 94,647,000\n    Rev 5.35 billion vs 4.04 billion\n    NOTE: 4th qtr net includes pre-tax gain of 9.7 mln dlrs\nfrom sale of real estate and real estate development company.\n    Fiscal 1986 net includes extraordinary charge of 3.5 mln\ndlrs, or six cts a share. All per share data reflects a\ntwo-for-one stock split paid June 25, 1986.\n Reuter\n&#3;',0
'FARMERS CONCERNED ABOUT BRITISH SUGAR OWNERSHIP The National Farmers Union, NFU, remains\nconcerned about the future ownership of British Sugar despite\nlast week\'s decision by the government to block bids from\nItaly\'s Gruppo Ferruzzi and Britain\'s Tate &amp; Lyle Plc.\n    The union\'s sugar beet committee met yesterday to consider\nthe implications of a government Monopolies and Merger\nCommission, MMC, report issued last week. \"We are still\nconcerned about S and W Berisford being long-term owners of\nBritish Sugar,\" a spokesman said. \"We do not view Berisford as\nproviding the long-term stability we want.\"\n    The Trade and Industry Secretary accepted a recommendation\nlast week by the MMC that it block a bid by Tate and Lyle for S\nand W Berisford Plc and stop Gruppo Ferruzzi buying a majority\nof British Sugar, owned by Berisford.\n    Union officials believe a new bid for the monopoly beet\nprocessor is now likely. \"We are looking again at the\nundertakings that we have demanded of existing bidders and\nwhich we would seek of any future bidders,\" the spokesman said.\nThe NFU, which represents Britain\'s 11,500 sugar beet growers,\nis also taking legal advice on particular paragraphs in the MMC\nreport which it says need further explanation.\n Reuter\n&#3;',0
'ZAYRE &lt;ZY> PLANS MORE STORE OPENINGS IN 1987 Zayre Corp said it plans to\nopen 25 additional Zayre Stores, 35 new T.J. Maxx stores and 50\nHit or Miss Shops in 1987.\n    In addition, Zayre said it plans to add six new BJ\'s\nWholesale Clubs and eight new HomeClubs to its warehouse group.\n    Earlier, the company reported 1986 earnings, ended January\n31, of 89.0 mln dlrs, or 1.49 dlrs per share, versus 94.6 mln\ndlrs, or 1.61 dlrs per share, in fiscal 1985. It also reported\nfourth quarter net of 43.8 mln dlrs, or 73 cts a share, versus\n36.5 mln dlrs, or 60 cts a share in 1985\'s fourth quarter.\n Reuter\n&#3;',0
'DUTCH GROWTH LIKELY TO SLOW, JOBLESS RISE IN 1987 Leaks of a major Dutch official\neconomic forecast due to be published on Monday indicate\nreduced economic growth and a renewed rise in unemployment this\nyear, political and market sources say.\n    Concern over an anticipated fall in Dutch competitiveness\nthis year against a background of an average 2-1/2 pct wage\nincrease, zero inflation and a firm guilder has triggered some\ncalls for a change in monetary policy to help boost growth.\n    But whatever the government\'s response, the central bank\nwill stick to its policy of keeping the guilder firm, they say.\n    The official forecasting agency Centraal Planbureau (CPB)\npublishes its 1987 outlook at the start of a week which will\nalso see a key parliamentary debate on government finances and\nthe economy.\n    Merchant bank Pierson, Heldring en Pierson - in an estimate\nreflecting general sentiment - said last month that Dutch\neconomic growth was now seen around one pct.\n    Domestic consumer spending is not expected to offset the\ndecline in export growth caused by slowing growth in West\nGermany, the main Dutch trading partner, and the lower dollar,\nPierson said in its February economic outlook.\n    The latest growth forecasts are well below a 1.5 to two pct\ngrowth figure seen by the CPB early last month and forecasts of\n2.5 pct economic growth in 1987 made last September.\n    The fall in unemployment is bottoming out and the\ngovernment has already admitted it will not meet its goal of\nreducing unemployment by an annual 50,000 from 1986 to 1990.\n    Some analysts and industry leaders have questioned central\nbank policy of pegging the guilder firmly to the mark and if\nnecessary keeping interest rates up to support the guilder.\n    Employers federation NCW chairman Fred Lempers criticised\nthe guilder\'s revaluation in line with the West German mark in\nlast January\'s European Monetary System (EMS) realignment and\nexpressed concern over its effect on competitiveness.\n    But the employers federation VNO noted the Dutch economy\nhad become more competitive since 1980 and the fall of the\ndollar was affecting this gain more than the EMS realignment.\n    Some analysts also question the central bank\'s decision not\nto copy the latest Bundesbank discount rate cut and instead\nlower money market rates and abolish a credit quota surcharge.\n    Central bank president Wim Duisenberg has defended the move\nsaying the bank had adjusted the rates with the most impact on\nthe money market, noting \"the (4.5 pct) discount rate is at the\nmoment not the most important Dutch rate because it is already\nfar below the market rates.\"\n    Central bank officials say the heavy dependence on trade of\nthe Dutch economy requires a stable exchange rate, and interest\nrate policies serve that goal.\n    Analysts noted a large capital outflow from the Netherlands\nrecently as foreign investments in Dutch stock are being sold\nto take profits.\n    Loosening the tie between the guilder and the mark would\nreduce international confidence in the guilder and make it more\ndificult to attract foreign capital, they said, noting Dutch\ninterest rates rose sharply when the guilder was not revalued\ncompletely in line with the mark in a 1983 EMS realignment.\n    Many Dutch banks have reacted favourably to the decision\nnot to copy the last German discount rate cut, but Pierson\nwarned it could actually add to uncertainty over the guilder.\n    Some analysts noted friction between the Finance Ministry\nand the central bank, with Finance Minister Onno Ruding having\nsaid before the Bundesbank discount rate cut he favoured lower\nDutch rates but that the Germans should move first.\n    One analyst said Ruding wanted to bring interest rates down\nto reduce the government debt burden.\n    A Finance Ministry spokesman said lower interest rates were\nneeded but denied any suggestion of conflicting views between\nthe ministry and the central bank. \"The cabinet\'s policy is\nsteady, the guilder has to stay with the mark,\" he said.\n REUTER\n&#3;',0
'CHRYSLER &lt;C> SETS STOCK SPLIT, HIGHER DIVIDEND Chrysler Corp said its board declared a\nthree-for-two stock split in the form of a 50 pct stock\ndividend and raised the quarterly dividend by seven pct.\n    The company said the dividend was raised to 37.5 cts a\nshare from 35 cts on a pre-split basis, equal to a 25 ct\ndividend on a post-split basis.\n    Chrysler said the stock dividend is payable April 13 to\nholders of record March 23 while the cash dividend is payable\nApril 15 to holders of record March 23. It said cash will be\npaid in lieu of fractional shares.\n    With the split, Chrysler said 13.2 mln shares remain to be\npurchased in its stock repurchase program that began in late\n1984. That program now has a target of 56.3 mln shares with the\nlatest stock split.\n    Chrysler said in a statement the actions \"reflect not only\nour outstanding performance over the past few years but also\nour optimism about the company\'s future.\"\n reuter\n&#3;',0
'BANCO SANTANDER TO BUY WEST GERMANY\'S CC-BANK &lt;Banco Santander> signed a letter of\nintent with Bank of America &lt;BAC> to purchase its West German\naffiliate &lt;Bankhaus Centrale Credit AG>, CC-Bank, the bank said\nin a statement amplifying an earlier report from Frankfurt.\n    \"The incorporation of CC-Bank in our group will provide a\nmajor boost...For chanelling investment between Spain and the\nEuropean Community,\" the statement said.\n    \"This operation enables us to take up a solid position in\nWest Germany ahead of Spain\'s full integration into the EC\'s\nfinancial system in five years\' time.\"\n    The deal included the license for Visa credit cards.\n REUTER\n&#3;',0
'CANADIAN IMPERIAL SEES LOWER LOAN LOSSES &lt;Canadian Imperial Bank of Commerce>,\nearlier reporting higher net income for the first quarter ended\nJanuary 31, said it expects loan losses to be lower than last\nyear\'s 697.0 mln dlrs.\n    However, the bank said it will maintain the high level of\nprovisioning for loan losses established last year because of\nmany market uncertainties. Commerce bank set loan loss\nprovisions of 636.0 mln dlrs in fiscal 1986, ended October 31.\n    The bank earlier said first quarter net income rose to 96.5\nmln dlrs from 87.0 mln dlrs in the prior year. Profit per basic\nshare after dividends fell to 61 cts from year-ago 64 cts.\n    Commerce Bank said because of market uncertainties, it used\nan estimate of 600.0 mln dlrs for fiscal 1987 loan losses in\ncalculating first quarter results.\n    The bank\'s first quarter provision for loan losses rose to\n172.0 mln dlrs, from 152.0 mln dlrs in the prior year.\n    Commerce Bank also said it will continue to adopt an\nagressive posture in adding to its general provisions against\nloan exposure to 34 countries designated by the federal\ngovernment\'s Inspector General of Banks.\n    First quarter net partly benefitted from net interest\nincome, up to 561.8 mln dlrs from year ago 540.9 mln dlrs.\n    Commerce Bank said improved other income, which rose to\n213.6 mln dlrs from year-earlier 170.1 mln dlrs, and net income\nwas partially offset by the increased loan loss provisions,\nnon-interest expenses and income taxes.\n    The bank said first quarter total assets increased to 83.92\nbillion dlrs from 78.93 mln dlrs in the prior year, due mainly\nto continued expansion in consumer loan and mortgage fields.\n    Return on assets increased by two cts to 46 cts per 100\ndlrs of average assets from the first quarter in fiscal 1986,\nbut declined two cts from fiscal 1986 fourth quarter.\n    The bank also said total non-accrual loans increased to 2.4\nbillion dlrs in the first quarter from year-ago 1.8 billion\ndlrs. However, non-accrual loans declined 130 mln dlrs from\nfiscal 1986 year-end.\n    \"Despite the recent announcement of the suspension of\ninterest payments by Brazil, virtually all of the bank\'s loans\nto this country were income producing up to January 31, 1987,\nand there was little adverse impact on the bank\'s earnings\nprior to the announcement,\" Commerce bank said.\n    The bank did not disclose a forecast of the impact on\nfuture earnings by Brazil\'s suspension of interest payments.\n Reuter\n&#3;',0
'MERCANTILE STORES CO INC &lt;MST> 4TH QTR NET Qtr ends Jan 31\n    Shr 3.26 dlrs vs 3.17 dlrs\n    Net 47.9 mln vs 46.7 mln\n    Revs 673.1 mln vs 630.2 mln\n    12 mths\n    Shr 7.54 dlrs vs 6.95 dlrs\n    Net 111.1 mln vs 102.4 mln\n    Revs 2.03 billion vs 1.88 billion\n.\n&#3;',0
'INDIA BOUGHT AT LEAST EIGHT CARGOES SUGAR--TRADE India bought eight cargoes of white\nsugar at a buying tender this week but also gave sellers\noptions to sell an extra eight cargoes at the same prices,\ntraders said.\n    Four international firms shared the business which gave\neach of them sales of two cargoes of Mar/Apr shipment sugar at\n233 dlrs CIF and options on two cargoes of Apr/May.\n    This brings recent options India has given traders to some\n200,000 tonnes at fixed prices and makes future Indian\npurchases very dependent on price fluctuations, traders said.\n    At 233 dlrs CIF the sugar sold this week was at a discount\nof up to 10 dlrs to current prices, some traders said.\n Reuter\n&#3;',0
'UNITEL VIDEO SHAREHOLDER PROPOSES POSSIBLE SALE OR LIQUIDATION OF COMPANY\n ',0
'ALLEGHENY POWER SYSTEM INC &lt;AYP> SETS PAYOUT Qtly div 73 cts vs 73 cts prior\n    Pay March 31\n    Record March 16\n Reuter\n&#3;',0
'&lt;SELKIRK COMMUNICATIONS LTD> 4TH QTR NET Oper shr 57 cts vs 73 cts\n    Oper net 6,051,000 vs 7,818,000\n    Revs 50.0 mln vs 56.0 mln\n    Year\n    Oper shr 1.06 dlrs vs 1.24 dlrs\n    Oper net 11,301,000 vs 13,203,000\n    Revs 171.9 mln vs 207.4 mln\n    NOTE: Current oper net excludes extraordinary income of\n180,000 dlrs in qtr and 1,119,000 dlrs in year vs previous\nlosses of 2,345,000 dlrs and 515,000 dlrs, respectively.\n                        \n Reuter\n&#3;',0
'HOUSTON OIL ROYALTY TRUST &lt;RTH> PAYOUT LOWER Mthly div 2.108 cts vs 2.158 cts prior\n    Pay March 26\n    Record March 16\n Reuter\n&#3;',0
'ENGELHARD CORP SETS THREE FOR TWO STOCK SPLIT AND RAISES QUARTERLY\n ',0
'PARIS TRADE DETAILS EC GRAIN TENDER RESULT The EC Commission rejected all bids for\nfree market bread-making and feed wheat and all bids for the\nspecial West German tender at today\'s weekly EC cereals tender,\ntrade sources said here.\n    It granted export licences for 123,000 tonnes of free\nmarket barley at a maximum rebate of 138.75 Ecus per tonne and\n25,000 tonnes of maize at a maximum rebate of 133.75 Ecus, they\nsaid.\n    Licences for 100,000 tonnes of the barley were awarded to\nFrench trade houses, they added.\n Reuter\n&#3;',1
'HOLDER PROPOSES UNITEL &lt;UNV> SALE OR LIQUIDATION Michael Landes, a major stockholder\nin Unitel Video Inc, said he has asked the company to consider\nliquidating, or selling some or all of its assets.\n    \"Mr. Landes has requested the company to implement a\nprogram to maximize shareholder values, which might include a\nsale of all or part of the company or a liquidation,\" he said\nin a filing with the Securities and Exchange Commission.\n    Landes and another Unitel Video investor, Albert Schwatz,\nhave formed a shareholder group and together hold 329,225\ncommon shares, or 15.2 pct of the total outstanding common\nstock.\n    Landes and Schwartz had reached an agreement in principle\nwith the New York video tape service company on a 12.50 dlr a\nshare takeover proposal last September, but subsequent merger\ntalks broke down in October.\n    The investors told the SEC they are continuing to review\ntheir positions company and may acquire more shares or sell\nsome or all of their current stake.\n Reuter\n&#3;',0
'HUGES TOOL COMPANY SAYS BAKER INTERNATIONAL MERGER PLAN NOT TERMINATED\n ',0
'ROYAL DUTCH/SHELL GROUP OF COS 4TH QTR NET Shr Royal Dutch Petroleum Co &lt;RD> 2.30 dlrs vs 2.90 dlrs\n    Final Royal Dutch dividend of 8.30 guilders for total 12.80\nguilders vs 12.80 guilders for 1985\n    Shr Shell Transport and Trading Co PLC &lt;SC> 1.38 dlrs vs\n1.65 dlrs\n    Final Shell Transport dividend 118.0 pence for total of\n172.0 pence vs 140.0 pence for 1985\n    Group Net 1.07 billion vs 1.24 billion\n    Group Sales 20.42 billion vs 25.84 billion\n    Year\n    Shr Royal Dutch 8.65 dlrs vs 9.11 dlrs\n    Net Shell Transport 4.78 dlrs vs 5.16 dlrs\n    Group Net 3.71 billion vs 3.88 billion\n    Group Sales 81.40 billion vs 94.57 billion\n    NOTES: Group is 60 pct owned by Royal Dutch and 40 pct by\nShell Transport\n    Dollar amount of Royal Dutch dividend will depend on\nguilder/dollar exchange rate on May 14. Final dividend is\npayable June 16 to holders of record May 26\n    Shell Transport dividend and per share results based on New\nYork shares, which are equal to four ordinary shares. Dollar\nfinal dividend will be determined by sterling/dollar exchange\nrate May 18. At current rate, with tax credits, is equal to\n2.59 dlrs. Final dividend is payable May 28 to holders of\nrecord April 10\n    Fourth quarter U.S. dollar figures for group translated\nfrom sterling at average rate of exchange for the quarter which\nwas 1.43 dlrs per pound in 1986 and 1.44 dlrs in 1985. Full\nyear U.S. dollar figures are sum of sterling translations to\nU.S. dollars for first, second, third and fourth quarters\n    Net includes FIFO inventory gain 217 mln dlrs vs loss 80\nmln dlrs in quarter and loss 1.23 billion dlrs vs loss 178 mln\ndlrs in year. If LIFO accounting had been used, company said,\nRoyal Dutch per share net would have been 1.78 dlrs vs 3.17\ndlrs in quarter and 11.60 dlrs vs 9.53 dlrs in year, Shell\nTransport per share net would have been 1.10 dlrs vs 1.81 dlrs\nin quarter and 6.36 dlrs vs 5.40 dlrs in year\n    Net includes restructuring credit 114 mln dlrs vs charge 72\nmln dlrs in quarter and credit 67 mln dlrs vs charge 467 mln\n    Per share impact of restructuring on Royal Dutch was credit\n27 cts vs charge 17 cts in quarter and credit 16 cts vs charge\n1.10 dlrs in year, on Shell Transport was credit 15 cts vs\ncharge 10 cts in quarter and credit nine cts vs charge 62 cts\nin year\n    Net also includes currency exchange losses of 20 mln dlrs\nvs 69 mln dlrs in quarter and 170 mln dlrs vs 401 mln dlrs in\nyear. Exchange losses had per share impact on Royal Dutch of 14\ncts vs 31 cts in quarter and 96 cts vs 1.26 dlrs in year and on\nShell Transport of eight cts vs 17 cts in quarter and 51 cts vs\n71 cts in year.\n Reuter\n&#3;',0
'WORLD GRAIN TRADE RECOVERY MAY BE UNDERWAY World grain trade could be turning\nthe corner and heading toward recovery in the 1986-87 season, a\nCargill, Inc. analyst said.\n    Writing in the March issue of the Cargill Bulletin, David\nRogers of Cargill\'s Commodity Marketing Division cited a\ngradual rise in world wheat trade in recent months, with a slow\nrise in wheat prices after recent historic lows.\n    He said the wheat trade, because wheat can be produced in\nmany nations, is a good barometer of world grain trade and\ncould lead to more activity in other grain markets.\n    Rogers said that with world grain prices at their lowest\nlevel in over a quarter of a century in real terms, demand has\nbegun to rise while producing nations are re-examining their\nexpensive price-support policies and reducing planted acres.\n Reuter\n&#3;',1
'INVESTMENT FIRM BOOSTS PUROLATOR &lt;PCC> STAKE Halcyon Investments, a New York\ninvestment partnership that deals mainly in risk arbitrage and\nstock trading, said it raised its Purolator Courier Corp stake\nto 726,700 shares, or 9.5 pct, from 474,900, or 6.2 pct.\n    In a filing with the Securities and Exchange Commission,\nHalcyon, whose managing partner is Alan B. Slifka and Co, said\nit bought 201,800 Purolator common shares between Feb 3 and\nMarch 2 at prices ranging from 28.689 to 34.811 dlrs each.\n    Halcyon, which said it has spent 20.1 mln dlrs for its\nPurolator common shares, said it also acquired options on Feb\n27 giving it the right to buy 50,000 shares for 1.8 mln dlrs.\n Reuter\n&#3;',0
'AETNA &lt;AET> TO SELL CANADIAN OPERATIONS Aetna Life and Casualty Co said\nits Aetna Life and Casualty of Canada Ltd subsidiary has agreed\nin prnciple to sell its casualty-property subsidiary, Aetna\nCasualty Co of Canada to &lt;Laurentian Group> of Montreal for\nundisclosed terms.\n    The company said the agreement is subject to Canadian\ngovernment approval.\n Reuter\n&#3;',0
'NPPC DELEGATES APPROVE DISEASE AND DRUG PROGRAMS Delegates from the National Pork\nProducers Council, NPPC, yesterday approved programs for\ncontrol and eradication of pseudorabies and establishment of a\nnational safe drug use program.\n    The delegate body, attending the American Pork Congress in\nIndianapolis, approved a pseudorabies control and eradication\nprogram at the state level after a recommendation from NPPC\'s\nPRV (pseudorabies virus) oversight committee.\n    The PRV committee received results of a three year, five\nstate pilot project which had a 97.5 pct success rate in\neradication of the disease within 116 hog herds. The project\nwas jointly funded by the USDA and NPPC.\n    \"Primarily it (the program) allows individual states to\ndeal with their own problems according to a timetable that\nsuits them best,\" Mike Wehler, member of the NPPC\'s PRV\noversight committee said.\n    In regards to safe drug use, the delegates approved a plan\nasking that NPPC be active in establishing a national safe drug\nuse program.\n    The program would establish better relationships between\nproducers and veterinarians and eventually lead to a quality\nassurance program in pork production, according to the plan.\n    \"This program basically communicates to the FDA that we are\nconcerned about safe drug use and will do our part to use drugs\nsafely, if FDA will allow the same policy to continue in\neffect,\" Wehler said.\n Reuter\n&#3;',0
'SOUTHERN MINERAL CORP &lt;SMIN> 4TH QTR LOSS Shr loss two cts vs profit three cts\n    Net loss 77,400 vs profit 134,000\n    Revs 418,500 vs 435,900\n    Year\n    Shr profit eight cts vs profit 27 cts\n    Net profit 315,100 vs profit 1,082,700\n    Revs 1,761,900 vs 2,511,200\n    NOTE: Per-share figures adjusted for four-for-three stock\ndistribution effective Dec 14, 1984\n    1985 results include an extraordinary tax benefit of 55,000\ndlrs, or one ct a share in each period\n Reuter\n&#3;',0
'BANK OF ENGLAND RESISTS PRESSURE FOR RATE CUT The Bank of England again fought against\nmoney and bond market pressure for a pre-Budget interest rate\ncut, leaving the pound to take the strain with a further rise\nin its trade-weighted index to a six-month high.\n    It closed at its best level since September 12, at 71.4 pct\nof its 1975 value on the index, as foreign investors continued\nto buy into a currency which offers high relative returns and\nthe possibility of short-term capital gains, dealers said.\n    Meanwhile, opinion is divided over whether the Bank can\nstop a cut before Budget Day, March 17, and why it should want\nto.\n    The Bank\'s latest strong signal to the market that it wants\nrates to stay steady for the moment came in midafternoon, when\nit lent to the discount houses at a penal rate of 11-3/4 pct to\nrelieve a money market shortage.\n    \"They\'re really making the discount houses suffer,\" said\nStephen Lewis, economist at brokerage house Phillips and Drew.\n\"Eleven and three-quarters pct is way above money market rates.\"\n    This money market signal was apparently not accompanied by\nany sterling sales on the foreign exchanges, talk of which had\ninhibited strong rises yesterday and Tuesday, so buyers came\nstrongly into the pound.\n    The pound surged to a high of 1.5798/808 dlrs at the London\nclose, up from the previous finish at 1.5650/60, and 2.8900/60\nmarks, up from 2.8720/50.\n    \"If this pressure keeps up...There is a possibility that\nrates could drop before the Budget,\" said Jeremy Hale, economist\nat finance house Goldman Sachs International Corp.\n    Some gilt traders are forecasting a half-point cut in the\nbase rate from the current 11 pct as early as tomorrow.\n    However, analysts said the Bank of England will need to be\nconvinced that the present rise is a fundamental re-rating\nrather than a result of short-term speculative gains.\n    There are valid reasons for the Bank to be cautious, said\nPeter Fellner, U.K. Economist at brokers James Capel and Co.\n    Markets have become highly optimistic about the chances of\na Conservative Party victory in any early general election, and\ndisappointment if Prime Minister Margaret Thatcher decides to\nhold back could lead to a decline in the pound and a setback\nfor bonds, Fellner said.\n    An election could be delayed until mid-1988, but most\nforecasts say it will be this year.\n    Others note that the pound could yet prove vulnerable to\noil price losses or a change of fortune for the dollar.\n    However, analysts agree the Bank is largely trying to set\nthe timing of a cut than holding out against one altogether.\n    The authorities traditionally prefer a single sustainable\nrate move, one way or the other, to half points here and there.\n    Some add the Bank will be influenced by signs that at least\na proportion of the latest bout of sterling buying is long-term\ncapital coming into the London market, notably from Japan.\n    They argue that the pound is being perceived as a safer bet\nthan the dollar, given the latters recent sharp falls and\ncurrent political upheavals in Washington.\n    The Bank may want to see another few points on the\ntrade-weighted index before the Budget, argued Lewis. \"But by\nthen sterling should be firm enough to satisfy even the Bank of\nEngland,\" he added.\n    The Bank declined to comment on its reasons for resisting\npressure for a rate move before the budget, but banking sources\nsaid the authorities see the recent rise in sterling as more\nthan just marking up by foreign exchange traders.\n    Meanwhile, analysts noted the market ignored potentially\nharmful news on the trade front, today\'s figures showing that\nthe current account deficit in 1986 was 1.1 billion stg.\n    This was above previous estimates of the current account\ndeficit and compares with a surplus of 2.9 billion stg in 1985.\n    Fellner said that under more normal conditions this would\nhave given the bond and currency markets a pause, but that they\nwere too bullish to worry about such fundamentals.\n    The guessing game over the timing of a cut has the clearing\nbanks divided as well as the markets. Privately, some bank\nofficials forecast the Bank will hold out at least for this\nweek, but at least one bank says a rise is possible tomorrow.\nIf a move comes before March 17, forecasts are for a half-point\ncut, with another half or full point about Budget day.\n REUTER\n&#3;',0
'ENGELHARD CORP &lt;EC> SETS STOCK SPLIT Engelhard Corp said its board\ndeclared a three-for-two stock split and raised the quarterly\ndividend to 19-1/2 cts per share presplit from 19 cts, both\npayable March 31 to holders of record March 17.\n Reuter\n&#3;',0
'EGYPTIAN 1986 CRUDE OIL OUTPUT DOWN ON 1985 Non-Opec Egypt produced 40.3 mln tonnes\n(about 295 mln barrels) of crude in 1986 against 44.3 mln\ntonnes (about 323 mln barrels) in 1985, according to official\nfigures released today by the Egyptian General Petroleum Corp.\n(EGPC).\n    Officials say Egypt can produce up to one mln bpd per day,\nbut production was cut when world prices plunged last year.\n    In an attempt to help OPEC stabilize the world market,\nEgypt cut its 1987 production target of 940,000 bpd to its\ncurrent output of 870,000 bpd.\n    Egypt, which exports a third of its output, currently sells\nits top Suez and Ras Bahar blends for 17.25 dlrs a barrel.\n REUTER\n&#3;',0
'TRADERS DETAIL IRISH INTERVENTION BARLEY TENDER The European Commission authorised the\nexport of 33,500 tonnes of Irish intervention barley at today\'s\ntender for non-European Community destinations at 53.10 Ecus\nper tonne, grain traders said.\n Reuter\n&#3;',1
'H AND H OIL TOOL CO &lt;HHOT> 4TH QTR LOSS Shr loss six cts vs profit two cts\n    Net loss 196,000 vs profit 71,000\n    Revs 2,512,000 vs 5,776,000\n    Year\n    Shr loss 1.09 dlrs vs loss 18 cts\n    Net loss 3,509,000 vs loss 587,000\n    Revs 12.0 mln vs 21.0 mln\n    Note: 1986 year includes special charge of 1,600,000 dlrs,\nor 50 cts per shr on write-down of rental equipment.\n Reuter\n&#3;',0
'CB AND T FINANCIAL CORP &lt;CBTF> YEAR NET Shr 2.10 dlrs vs 1.72 dlrs\n    Shr diluted 1.98 dlrs vs 1.72 dlrs\n    Net 2,228,000 vs 1,730,000\n Reuter\n&#3;',0
'AMOSKEAG BANK &lt;AMKG> TO ACQUIRE ENTREPO Amoskeag Bank said it signed an\nagreement to acquire &lt;Entrepo Financial Resources Inc>, a\nPhiladelphia-based company which leases and remarkets high\ntechnology equipment.\n    Terms of the acquisition were not disclosed.\n    It said Entrepo has assets of 20 mln dlrs.\n Reuter\n&#3;',0
'WASHINGTON NATIONAL CORP &lt;WNT> VOTES DIVIDEND Qtly div 27 cts vs 27 cts prior qtr\n    Pay 1 April\n    Record 16 March\n Reuter\n&#3;',0
'KAINES SELLS JORDAN TWO CARGOES OF WHITE SUGAR Trade house Kaines said it sold Jordan\ntwo cargoes of white sugar at its buying tender today.\n    The sale comprised two 12,000 to 14,000 tonne cargoes (plus\nor minus 10 pct) for Mar/Apr shipment, a Kaines trader said.\n    Traders said the business was done at 235.5 dlrs a tonne\ncost and freight.\n Reuter\n&#3;',0
'COMMUNITY BANK SYSTEM &lt;CBSI> BUYS NICHOLS BANK Community Bank Systems Inc and\nthe &lt;Nichols National Bank> said they have signed a definitive\nagreement for Nichols to become a member of the CBSI Group of\nbanks for an exchange of stock worth 2.8 mln dlrs.\n    CBSI said it expects to complete the deal, pending Nichols\'\nshareholder and regulatory approval, later this year.\n Reuter\n&#3;',0
'EASTMAN KODAK ACQUIRES 18.7 PCT INTEREST IN ENZON INC\n ',0
'TURKEY SEEKING 100,000 TONNES SUGAR - TRADE Turkey is holding a buying tender for\n100,000 tonnes of white sugar on March 24, traders here said.\n    The sugar is being sought for early arrival and will\nprobably be met with April/May shipment sugar, they added.\n    Earlier today newspapers in Turkey carried an advertisement\nfrom Turkish Sugar Factories inviting offers of 100,000 tonnes\nof crystal sugar with a 50 pct option to increase or decrease\nthe amount.\n    Over the 1983/85 period Turkey each year has exported\nbetween 240,000 and 350,000 tonnes of whites to Iran and\nbetween 62,000 and 230,000 tonnes to Iraq.\n    Following lower sugar crops in the past two years analysts\nsaid Turkey needs to import sugar now if it is to continue\nfilling these export contracts, and may need to buy more.\n    Last month London broker C Czarnikow estimated Turkish\n1986/87 production at 1.42 mln tonnes raw value against 1.4 mln\nin 1985/86 and an average 1.76 mln in the previous three\nseasons.\n    The semi-official Anatolian Agency recently quoted Turkish\nMinister of Industry and Trade Cahit Aral as saying Turkey\nwould export 100,000 tonnes of sugar this year and import the\nsame amount.\n REUTER\n&#3;',0
'SHAD FAVORS SHORTENING DISCLOSURE PERIOD Securities and Exchange Commission\nChairman John Shad said the SEC favors shortening the current\n10-day period for disclosing takeover attempts but opposes\nputting restrictions on the use of so-called junk bonds.\n    \"We favor shortening the disclosure period to two days,\"\nShad told members of the House Telecommunications and Finance\nsubcommittee when asked for his recommendation.\n    He said the SEC\'s responsibility was to provide full\ndisclosure for securities, including junk bonds, and not to\nmake decisions based on merit. He said junk bonds had some\nvalue because of their liquidity.\n    Shad said he opposes proposals to require those attempting\ntakeovers to file a statement on the impact the takeover would\nhave on the communities involved.\n    \"We\'ve opposed it in the past. It goes far beyond investor\nprotection,\" Shad said.\n    He said he had no comment on a proposal by House Speaker\nJim Wright, D- Texas, to tax securities transactions.\n Reuter\n&#3;',0
'CORRECTED - PEGASUS GOLD INC&lt;PGULF> 4TH QTR NET Shr profit 20 cts vs loss two cts\n    Net profit 2,665,000 vs loss 202,000\n    Revs 12,141,000 vs 5,993,000\n    Year\n    Shr profit 35 cts vs loss 11 cts\n    Net profit 4,653,000 vs loss 1,167,000\n    Revs 35.1 mln vs 18.0 mln\n    NOTE: company corrects reporting period to 4th qtr and year\nfrom 3rd qtr and nine mths\n Reuter\n&#3;',0
'HUGHES TOOL &lt;HT> SAYS BAKER &lt;BKO> MERGER ALIVE Hughes Tool Co Chairman W.A. Kistler\nsaid its counter proposal to merge with Baker International\nCorp was still under consideration and that a merger was in the\nbest interests of both companies.\n    \"Our hope is that we can come to a mutual agreement that is\ngood for both companies,\" Kistler said of the proposed merger\nthat would result in a 1.2 billion dlr oil field service\ncompany. \"We\'re working very hard on this merger.\"\n    Hughes\' board today again adjourned a shareholders meeting\nto vote on the proposed merger and rescheduled it for March 11\nto give Baker more time to consider the counter proposal.\n    The Hughes board, which had previously expressed concern\nabout a U.S. Department of Justice consent decree that would\nrequire Baker to sell its drilling bit operations and\nsubmersible pump business, met yesterday and threatened to\nterminate the proposed merger.\n    The Hughes board made a counter proposal that the two\ncompanies first find acceptable buyers for the businesses\nbefore signing the decree.\n    The directors of Baker immediately after receiving the\ncounter proposal filed a law suit in Texas in a Texas state\ncourt to force to Hughes to complete the merger.\n    \"The uncertainty as to the price and conditions that might\nbe imposed by the Department of Justice makes us very nervous\nabout what the outcome might be,\" Kistler said, in explaining\nwhy Hughes had made the counter proposal.\n    \"We need additional time to understand why Baker did not\naccept our proposal.\"\n    Kistler also said that the law suit filed by Baker \"was not\na factor\" in the board\'s decision to keep its merger proposal\non the table.\n    He declined to comment on the allegations in the lawsuit.\n    Kistler said Hughes would be willing to consider a\ncompromise counter proposal, but declined to be more specific.\n    The Justice Department in January said it would block the\nHughes and Baker merger on anti-trust grounds unless both\ncompanies agreed to sign a consent decree that would provide\nfor the sale of the assets after the merger took place.\n    The Hughes board said it would not sign the decree because\nits was too \"unreasonable.\" Hughes said that Baker should\ninstead complete the sale of the disputed assets before the\nmerger is finalized and given government approval.\n    Under the decree, if Baker is unable to find acceptable\nbuyers within a specified period of time after the decree is\napproved, a federal trustee would become responsible for\nfinding a buyer.\n    Kistler said that under those terms, the trustee could take\nup to 10 years to complete the sales.\n    He also expressed concern that the combined companies might\nbe required by the government\'s conditions to license some of\nits technology to any purchaser of the assets.\n    Baker said last night in a statement that the required\nassets to be sold would reduce revenues by about 65 mln dlrs,\nrepresenting about three pct of the revenues of the combined\ncompanies.\n\n Reuter\n&#3;',0
'AEQUITRON MEDICAL INC &lt;AQTN> 3RD QTR LOSS Period ended January 31\n    Shr loss five cts vs profit eight cts\n    Net loss 247,100 vs profit 345,300\n    Sales 4,529,300 vs 3,482,800\n    Nine mths\n    Shr profit six cts vs profit 18 cts\n    Net profit 261,300 vs profit 793,700\n    Sales 12.3 mln vs 9,957,200\n Reuter\n&#3;',0
'LOWE\'S COS INC &lt;LOW> 4TH QTR JAN 31 NET Shr 18 cts vs 31 cts\n    Net 7,168,000 vs 11.3 mln\n    Sales 497.4 mln vs 475.6 mln\n    Avg shrs 39.6 mln vs 37.1 mln\n    Year\n    Shr 1.34 dlrs vs 1.64 dlrs\n    Net 52.2 mln vs 59.7 mln\n    Sales 2.28 billion vs 2.07 billion\n    Avg shrs 39.0 mln vs 36.5 mln\n    NOTE: Current year net both periods includes charge\n2,885,000 dlrs or seven cts shr from early note retirement and\ncharge seven cts shr from reversal of tax credits.\n    Current year net both periods includes gain six cts shr\nfrom plywood manufacturers litigation settlement.\n Reuter\n&#3;',0
'FRANCE TO SELL STAKE IN SOCIETE GENERALE UNIT The French government is to\nsell to the public its 47.42 pct direct holding in Societe\nGenerale &lt;STGN.PA>\'s regional bank subsidiary &lt;Societe Generale\nAlsacienne de Banque>, SOGENAL, from next Monday, SOGENAL\nofficials said.\n    SOGENAL, founded in 1881 and nationalised in 1982, is the\nleading French regional bank and has branches in Austria,\nBelgium, Luxembourg, East and West Germany and Switzerland.\n    Chairman Rene Geronimus told a news conference the share\noffer price, expected to be announced tomorrow by Finance\nMinister Edouard Balladur, would be between 110 and 130 francs.\n    Societe Generale, which will itself be privatised later\nthis year, will retain its 52.58 pct majority holding in the\nbank, Chairman Marc Vienot said.\n    SOGENAL officials said they forecast 1987 consolidated\ngroup profit of around 170 mln francs after an estimated 160\nmln this year and 159 mln in 1985.\n    SOGENAL\'s privatisation will be preceded by a capital\nincrease to 320 mln francs from 263 mln, earning about 250 mln\nfrancs in new funds. Its shares will be divided by eight,\ngiving a capital of 12.8 mln shares of 25 francs nominal.\n    The bank will be listed on the Nancy stock exchange, in\nline with the Finance Ministry and government\'s aim of a\nregional operation, Geronimus said.\n    He said he was hoping for shareholders to total around\n30,000 to 35,000 against the 12,500 before nationalisation. Ten\npct of the capital to be floated will be reserved for employees\nwith the rest offered to the public. There will not be a share\nreserved for foreign investors. \"This is too small an operation\nand anyway they will be able to buy shares in France,\" he said.\n    Stockbroker sources said that a likely share offer price of\n120 francs would value SOGENAL at 1.5 billion francs.\n    Geronimus said the bank\'s future aim would be to reinforce\nits existing strong points, with no major projects planned\napart from the opening soon of a Basle branch.\n    SOGENAL is the only French bank in Austria, it set up the\nfirst foreign exchange dealing room outside Paris at its\nStrasbourg headquarters in 1985, and is the only foreign\nbanking subsidiary to be a broker on the Zurich Bourse.\n    The government\'s banking adviser for the operation was\n&lt;Banque Privee de Gestion Financiere>, BPGF, owned by French\nfinancier Pierre Moussa\'s &lt;Pallas> group, assisted by Britain\'s\n&lt;Hambros Bank Ltd>.\n REUTER\n&#3;',0
'MIDLAND &lt;MLA> SETS STOCK SPLIT Midland Co said its board declared a\ntwo-for-one stock split, subject to approval of a doubling of\nauthorized common shares at the annual meeting on April 9, and\nan increase in the quarterly dividend to 12 cts pre-split from\n10 cts.\n    The dividend is payable April 8, record March 17, and the\nsplit would be payable May 7, record April 23.\n Reuter\n&#3;',0
'PRUDENTIAL INSURANCE YEAR EARNINGS The Prudential Insurance Company of\nAmerica, a privately held company, said today that net income\nin 1986 rose to 2.8 billion dlrs from the 2.3 billion dlrs\nreported the year earlier.\n    Assets under management rose to 177.5 billion dlrs in 1986\nfrom 150.1 billion dlrs in 1985, while consolidated assets\njumped to 134.5 billion dlrs from 115.7 billion dlrs.\n    Discussing its major subsidiaries, the company said that\nPrudential Capital and Investment Services Inc, the holding\ncompany for brokerage house Prudential-Bache Securities and\ncertain other related subsidiaries, earned 142 million dlrs in\n1986. Of that, the securities operations of Prudential-Bache\nnetted 81.7 mln dlrs after taxes and a charge of 25 mln dlrs.\n Reuter\n&#3;',0
'EC OPENS SPECIAL REBATE FOR MAIZE - PARIS TRADE The EC Commission decided to open a\nspecial daily export rebate today for maize exports to Morocco,\nIsrael, Canary Islands and zone 5c (Sub-Saharan Africa), trade\nsources said here.\n    The rebate was set at 153 European currency units per tonne\nfor March and 133 for April through July.\n Reuter\n&#3;',1
'AEQUITRON &lt;AQTN> SEES 4TH QTR CHARGE Aequitron Medical Inc said costs\nrelated to its previously announced plan to consolidate Life\nProducts operations in Boulder, Colo, are expected to total\n720,000 dlrs, or eight cts a share for the fourth quarter\nending April 30.\n    It said the costs including moving expenses, severance pay\nand future lease payments.\n    The company said it will consolidate Life Products into the\ncompany\'s headquarters and manufacturing operations in\nMinneapolis.\n Reuter\n&#3;',0
'BIG B INC &lt;BIGB> 4TH QTR JAN 31 NET Shr 23 cts vs 17 cts\n    Net 1,742,000 vs 1,1512,000\n    Sales 62.6 mln vs 53.6 mln\n    Avg shrs 7,854,000 vs 6,617,000\n    Year\n    Shr 61 cts vs 61 cts\n    Net 4,469,000 vs 4,039,000\n    Sales 209.8 mln vs 175.4 mln\n    Avg shrs 78,369,000 vs 6,610,000\n Reuter\n&#3;',0
'WILSHIRE &lt;WOC> CHIEF NAMED TO JACOBS &lt;JEC> BOARD Wilshire Oil Co of Texas, which has a\n9.8 pct stake in Jacobs Engineering Group Inc, said its\nchairman, Siggi Wilzig, was appointed to the Jabobs board.\n    In a filing with the Securities and Exchange Commission,\nWilshire, which holds 417,100 Jacobs common shares, said Wilzig\nwas appointed to the Jacobs board of directors on March 3 after\nthe company\'s annual shareholder meeting.\n    Wilshire also said that Jacobs Chairman Joseph Jacobs has\nagreed to recommend a second Wilshire nominee for election to\nthe board if the person was found to be qualified.\n \n Reuter\n&#3;',0
'FEBRUARY U.S. RETAIL SALES NOT SIGN OF UPTURN U.S. retailers posted stronger than\nexpected sales in February, but not enough to prompt analysts\nto change their expectations of sluggish sales growth for the\nfirst half of 1987.\n     \"My feeling is that it (February) borrowed some of the\nbusiness we normally see later in the quarter and the real\nstrength of general merchandise sales will be in the second\nhalf of 1987,\" said Bear Stearns and Co analyst Monroe\nGreenstein.\n    \"I don\'t think March will be as strong because Easter falls\nin April this year,\" said Morgan Stanley analyst Walter Loeb.\n   Analysts generally average the sales results of March and\nApril to account for the variation of Easter\'s occurrence.\n    Analyst Edward Johnson of Johnson Redbook Associates said\nsales for February rose between six and 6.5 pct, compared to a\n3.6 pct increase last year.\n     Analysts noted that February is considered a small,\ntransitory month between winter and spring.\n    In addition, sales comparisons were boosted by an\nespecially soft February last year which was adversely affected\nby severe weather.\n    Apparel sales outshone other product groups in sales,\naccording to retailers and analysts.\n    \"February\'s strong sales reflected a lot of fresh\nmerchandise on the shelves and higher consumer income due to\ntax reductions,\" said Greenstein of Bear Stearns.\n    Analysts expect apparel sales to remain good as sales of\ndurable and houseware items grow softer due to the continuing\nhigh levels of consumer debt.\n     May Department Stores Co &lt;MAY> and K Mart Corp &lt;KM> were\namong the strong performers, posting comparable store sales\ngains of 9.4 pct and 8.2 pct, respectively. May had an overall\nsales gain of 15.0 pct and K Mart had a 13.1 pct sales gain \nlast month.\n    \"Favorable consumer response to our merchandise programs\ncontinued to positively impact our sales comparisons. IN\naddition to the strong contribution by K Mart stores, all our\nspecialty retailing companies had excellent February sales,\"\nsaid K Mart chairman Bernard Fauber.\n    Sears Roebuck and Co &lt;S> posted a 4.9 pct increase.\n\"Domestic sales were led by better than average increases in\napparel, home fashions and hardware and especially strong\ncatalog sales,\" said Sears chairman Edward Brennan.\n    Analysts were a little disappointed by J.C. Penney Co Inc\n&lt;JCP> which started out with especially strong sales early in\nthe month. Penney posted a 5.5 pct increase on a comparitive\nstore basis and a 5.3 pct gain in overall sales.\n    Penney chairman William Howell said, \"store sales were\nstrongest during the early part of the month, while catalog\ndemand was consistently strong throughout the period.\n    Store sales activity varied throughout the country, ranging\nfrom good in the East to weak in the depressed southwest.\n    Analysts also said gross profit margins were high as\nretailers were not overly promotional due to leaner inventories\nthan a year ago.\n    \"February is not a big month seasonally but these numbers\nsuggest a fairly good trend for consumer spending,\" said Drexel\nBurnham Lambert analyst Jeff Edelman.\n    FEBRUARY SALES FOR MAJOR U.S. RETAILERS\n    STORE          PCT      1987       1986\n SEARS             4.9      1.8 BILL   1.8 BILL\n K MART            13.1     1.5 BILL   1.3 BILL\n WAL-MART          44.0     885 MLN    615 MLN\n JC PENNEY         5.3      780 MLN    741 MLN\n FEDERATED         9.6      720 MLN    657 MLN\n MAY               15.0     632 MLN    550 MLN\n DAYTON HUDSON     19.5     602 MLN    504 MLN\n ZAYRE             25.7     327 MLN    260 MLN\n MONTGOMERY WARD   11.1     277 MLN    249 MLN\n Reuter\n&#3;',0
'QUARTZ ENGINEERING AND MATERIALS &lt;QRTZ> 1ST QTR Qtr ended Dec 31\n    Shr nil vs nil\n    Net loss 59,922 vs loss 357,203\n    Revs 714,263 vs 926,964\n Reuter\n&#3;',0
'KODAK &lt;EK> BUYS STAKE IN ENZON &lt;ENZN> Eastman Kodak Co said it has\nacquired an 18.7 pct equity interest in Enzon Inc, a\npharmaceutical company specializing in protein therapy.\n    Kodak said it secured worldwide marketing rights for three\nof Enzon\'s PEG enzymes used in the treatment of oxygen toxicity\ndisorders, hyperuricemia and gout.\n    The company said it acquired two mln Enzon shares for 15\nmln dlrs, with loans to Enzon of two mln dlrs and interest of\n30,000 dlrs credited against the purchase price.\n    Kodak said the drugs covered by the marketing rights are in\ninitial stages of the U.S. Food and Drug Administration\napproval process.  It said the investment should provide the\nnecessary capital to complete the FDA review process and\nprovide a marketing outlet for the drugs.\n    The drugs are PEG-superoxide disdmutase and PEG-catalase,\nfor use against oxygen toxicity disorders that cause the\noften-fatal tissue damage associated with severe burns, organ\ntransplants, heart attacks and trauma, and PEG-uricase, for\ntreatment of gout and other conditions caused by the buildup of\nhigh levels of uric acid in the body.\n Reuter\n&#3;',0
'GEMCRAFT INC &lt;GEMH> YEAR NET Shr 42 cts vs 1.21 dlrs\n    Net 2,317,000 vs 5,847,000\n    Sales 360.0 mln vs 282.4 mln\n    Avg shrs 5,463,000 vs 4,829,000\n    NOTE: 1986 net includes 4,700,000 dlr pretax charge from\nwritedown of land and abandonment of land and pretax charges of\n5,800,00 dlrs from pending rescission offer, settlements with\nU.S. agencies, adjustment of the prior booking of residuals\narising from collateralized mortgage obligation bond issues,\nwritedowns of land held by a joint venture, startup costs\nassociated with entering new markets, an increase in reserves\nfor customer service and writeoffs and reserves for\nmortgage-related receivables to reflect current market values.\n Reuter\n&#3;',0
'APPLIED SOLAR ENERGY CORP &lt;SOLR> 1ST QTR NET Qtr ended Jan 31\n    Shr profit nine cts vs loss 30 cts\n    Net profit 317,000 vs loss 997,000\n    Sales 6,338,000 vs 3,119,000\n    Note: 1986 net includes extraordinary gain of 90,000 dlrs,\nor two cts per shr.\n Reuter\n&#3;',0
'PACIFIC NUCLEAR SYSTEMS IN &lt;PACN> 4TH QTR LOSS Shr loss 19 cts vs profit seven cts\n    Net loss 851,000 vs profit 227,000\n    Revs 2,600,000 vs 4,800,000\n    Year\n    Shr loss 46 cts vs profit 19 cts\n    Net loss 2,100,000 vs profit 600,000\n    Revs 9,900,000 vs 15.9 mln\n Reuter\n&#3;',0
'FED\'S JOHNSON STRESSES PRICE STABILITY Federal Reserve Board Vice Chairman\nManuel Johnson said that maintaining price stability was\ncritical to achieving non-inflationary economic growth in the\nworld and said that progress was being made.\n    \"It is worth reiterating that the Federal Reserve\'s\npromotion of price stability is critical to the successful\nimplementation of virtually all of the important ingredients\nfor growth,\" he told the Eastern Economic Association.\n    Johnson said initial progress has been made on a variety of\nfronts. \"Federal Reserve monetary policy, the\nGramm-Rudman-Hollings legislation, the G-6 agreement, and the\nBaker debt initiative for example all have moved us in the\nright direction,\" he said. G-6 is comprised of U.S., Britain,\nFrance, Japan, West Germany and Canada.\n    On the budget deficit, Johnson said meeting precise\nnumerical goals was less important than a continuing commitment\ntoward slowing the growth of federal spending.\n    There was evidence deficits as a pct of Gross National\nProduct were declining and would continue to drop, he said.\n    But Johnson warned against reliance on inflow of foreign\ncapital to finance investment and the budget deficit and keep\ninterest rates stable.\n    \"This situation, however, cannot continue indefinitely.\nSooner or later progress must be made in controlling excessive\nfederal spending,\" he said.\n    A disinflationary monetary policy should continue to be the\nmain objective of the Fed, Johnson said.\n    He also said a more stable and sustainable alignment of\nexchange rates was needed for long-term growth.\n    On the trade deficit, Johnson warned against \"quick fix\"\nsolutions, which he identified as excessive dollar depreciation\nor protectionist trade legislation.\n    \"What is important is that we attempt to maintain healthy\nreturns to capital and adopt policies encouraging genuine\neconomic growth,\" he said.\n    Such an approach would finance the trade deficit but allow\nfor its gradual resolution over time.\n Reuter\n&#3;',0
'ANGLO AMERICAN GOLD INVESTMENT CO LTD &lt;AAGIY> Year to Feb 28\n    Shr 1,700.3 cts vs 1,533.0\n    Pre-tax 373.3 mln rand vs 341.0 mln\n    Net 373.3 mln vs 336.5 mln\n    Tax nil vs 4.5 mln\n    Final div 900 cts making 1,600 cts vs 1,450\n    Div payable April 24, register March 20\n Reuter\n&#3;',0
'HARRIS CUTS TRIAD SYSTEMS &lt;TRSC> STAKE TO 18 PCT Harris Associates L.P., a Chicago\ninvestment advisory partnership, said it lowered its stake in\nTriad Systems Corp to 1,355,296 shares, or 17.9 pct of the\ntotal outstanding, from 1,463,962 shares, or 19.3 pct.\n    In a filing with the Securities and Exchange Commission,\nHarris said it sold a net 108,666 Triad common shares between\nDec 16 and Feb 23 at prices ranging from 10.00 to 14.25 dlrs a\nshare.\n    It said its dealings in Triad common stock were done on\nbehalf of its advisory client.\n Reuter\n&#3;',0
'U.S. TREASURY SAYS NO COMMENT ON YEN VALUE A Treasury Department spokesman\nrefused comment on statements by Robert Ortner, undersecretary\nof economic affairs for the Commerce Department, that the\nJapanese yen was undervalued.\n    Ortner, senior economist at the Commerce Department, told\nan Export-Import Bank conference \"the yen is still a little bit\nundervalued,\" and \"could go up another 10 or 15 pct.\"\n    Asked for reaction, a Treasury spokesman said officials\nwere aware of Ortner\'s comments but had no intention of making\nany comment on them.\n    Ortner, who stressed he was expressing personal views, said\nhe thought the U.S. dollar was \"fairly priced\"\nagainst most European currencies and added \"I do not regard the\ndollar as undervalued at this point against the yen,\" he said.\n    But the yen should go up 10 or 15 pct in value, Ortner\nsaid, because it is undervalued against the dollar.\n    The United States and major trade allies West Germany,\nFrance, Britain, Japan and Canada met recently in Paris to\ndiscuss maintaining stability in international currency values.\n\n Reuter\n&#3;',0
' &#2;\nLIBRA BANK EXPECTS BRAZIL TO REACH DEBT ACCORD LONDON, March 5\n- London-based &lt;Libra Bank Plc> said when announcing its 1986\nannual results that it expected Brazil to reach agreement with\nits creditors over debt repayments.\n    \"In recent years Brazil has demonstrated its ability to\ngenerate surpluses sufficient to service its debt, and I have\nno doubt that, in due course, it will reach an agreement with\nthe banks and its other creditors,\" Libra managing director\nPeter Belmont said in a statement.\n    Earlier the bank, which specialises in providing finance to\nLatin America and the Caribbean, announced pretax profits of\n43.9 mln stg for calendar 1986, against 43 mln in 1985.\n    Libra\'s net worth increased by 24 pct to 134 mln stg last\nyear, and Belmont said the improvement to the bank\'s balance\nsheet was due to profits being mostly retained in the bank, and\nto the issue of 10 mln stg of cumulative redeemable preference\nshares during the year.\n    Libra is a consortium bank --National Westminster Bank Plc\n&lt;NWBL.L>, Chase Manhattan Bank N.A. &lt;CMB>, Royal Bank of Canada\n&lt;RY.TO>, Swiss Bank Corp &lt;SBVZ.Z>, Westdeutsche Landesbank\nGirozentrale &lt;WELG.F>, &lt;Mitsubishi Bank Ltd>, &lt;Bancomer SNC>,\n&lt;Banco Itau SA>, &lt;Credito Italiano SpA> and &lt;Banco Espirito\nSanto e Comercial de Lisboa> all have shareholdings.\n REUTER\n&#3;\n\n',0
'IDEA INC &lt;IDEA> TO BUY PRIVATE FIRM IDEA Inc said it signed a\nletter of intent to buy privately-held Structural\nInstrumentation Inc.\n    The purchase, for an undisclosed sum, will be made mostly\nwith IDEA common stock, the company said.\n    IDEA said the purchase will add about 32 cts per share to\nits fiscal 1988 earnings.\n    IDEA reported earnings of four cts per share for the\nquarter ended October 31, 1986.\n Reuter\n&#3;',0
'DUCOMMUN INC &lt;DCO> SELLS DIVISION Ducommun Inc said it sold its\nAirdrome Parts Co division to a group of investors headed by\nAirdrome\'s management for a cash price of 12 mln dlrs.\n    Ducommun said the sale, coupled with its sale last month of\nMetermaster, were steps taken to improve the company\'s balance\nsheet and that no further sales are being contemplated.\n Reuter\n&#3;',0
'HOOPER HOLMES SHERLOCK INC &lt;HOOP> 4TH QTR NET Shr 22 cts vs 25 cts\n    Net 472,000 vs 454,000\n    Revs 16.2 mln vs 15.2 mln\n    Avg shrs 2,135,315 vs 1,835,325\n    12 mths\n    Shr 71 cts vs 70 cts\n    Net 1,393,000 vs 1,285,000\n    Rwevs 61,805,000 vs 55,367,000\n    Avg shares 1,960,319 vs 1,835,325\n Reuter\n&#3;',0
'TEXON ENERGY &lt;TXON> IN TALKS ON ACQUISITION Texon Energy Corp said it has entered\ninto a preliminary agreement to purchase an 80 pct interest in\na privately-held specialty plastics manufacturing company it\ndid not name.\n    Texon said completion of the acquisition is subject to the\nconsent of banks and third parties and the acquisition would be\nmade for promissory notes and common stock.\n Reuter\n&#3;',0
'ALLIED &lt;ALD> AFFILIATE RESTATES LOSS LARGER Allied-Signal Inc\'s 49.7 pct owned\n&lt;Union Texas Petroleum Co> affiliate said it has restated its\nfourth quarter and full-year losses and revenues to increase\nthe provision for the proposed settlement of a price dispute\ninvolving Indonesian liquefied natural gas.\n    It said the restated increases the provision against 1986\nfourth quarter earnings to 23.5 mln dlrs from 15.5 mln dlrs\nestimated earlier.\n    Union Texas said its fourth quarter loss was increased to\n29.5 mln dlrs from 21.5 mln dlrs reported previously and\nrevenues reduiced to 214 mln dlrs from 228 mln dlrs.\n    Union Texas said for the full year it restated its loss to\n57.5 mln dlrs from 49.5 mln dlrs and revenues to 1.26 billion\ndlrs from 1.27 billion dlrs.\n    the restatement results from a tentative agreement reached\nin February with Pertamina, the Indonesian state-owned\npetroleum enterprise, and Japanese purchasers of LNG.\n    Kohlberg Kravis Roberts and Co also owns 49.7 pct of Union\nTexas and the remainder is owned by management.\n Reuter\n&#3;',0
'AMREP CORP &lt;AXR> 3RD QTR JAN 31 NET Shr 12 cts vs 34 cts\n    Net 787,000 vs 2,250,000\n    Revs 23.6 mln vs 23.6 mln\n    Nine mths\n    Shr 70 cts vs 1.06 dlrs\n    Net 4,598,000 vs 6,974,000\n    Revs 73.1 mln vs 73.6 mln\n    NOTE: Share adjusted for three-for-two stock split in\nDecember 1986.\n Reuter\n&#3;',0
'ICI &lt;ICI> SEES GROWTH IN PHARMACEUTICALS Imperial Chemical Industries PLC\nexpects earnings from its pharmaceuticals operations to grow  \nto about 35 pct of world profits within the next five years\ncompared with a current 30 pct, chairman elect Denys Henderson\ntold financial analysts.\n    \"Over the next five years we expect to launch one major new\nproduct each year,\" Henderson said.\n    He also said research and development spending in this\nbusiness segment will be increased to 14 pct of total sales\nincome in 1987 from 13 pct, or 130 mln sterling, in 1986.\n    ICI, the world\'s fifth largest chemicals firm in terms of\nsales, recently reported 1986 profits of about 888 mln dlrs on\n15 billion dlrs in sales, compared with income of 817 mln dlrs\non 15.87 billion dlrs in sales a year earlier.\n    Sales in the United States totaled about three billion\ndlrs, ICI executives said.\n    In addition, Henderson said overall corporate growth will\ncome from ICI\'s research and development activities, but the\ncompany intends to continue to grow through an acquisition\nprogram.\n    ICI spent just under one billion dlrs for acquisitions\nduring 1986, the largest of which was the 580 mln dlr purchase\nof Cleveland, Ohio-based Glidden Inc, a paints, resins and\ncoatings company, from &lt;Hanson Trust PLC>.\n    ICI financial director Alan Clements said the company\'s\nborrowing limits are at a level of about 6.3 billion sterling,\n1.5 billion of which have already been used.\n    While the company has no current plans for a major\nacquisition, \"we are ready to move quickly in the acquisition\nfield if the need arises,\" Clements said.\n Reuter\n&#3;',0
'SAFECARD SERVICES &lt;SFCD> SETS SPLIT, UPS PAYOUT SafeCard Services Inc said\nits board declared a three-for-two stock split and is\nmaintaining the quarterly dividend on post-split shares at the\nsame six cts it now pays for an effective 50 pct increase.\n    Both the split and the dividend are payable April 30 to\nholders of record March 31.\n Reuter\n&#3;',0
'WILTON ENTERPRISES INC &lt;WLTN> 2ND QTR JAN 31 NET Oper shr profit two cts vs loss 31 cts\n    Oper net 72,000 vs loss 1,130,000\n    Sales 7,896,000 vs 9,333,000\n    1st half\n    Oper shr profit 32 cts vs profit eight cts\n    Oper net profit 1,187,000 vs profit 299,000\n    Sales 21.3 mln vs 26.0 mln\n    NOTE: Current year net excludes tax credits of 54,000 dlrs\nin quarter and 945,000 dlrs in year.\n Reuter\n&#3;',0
'ROTTERDAM PORT SUBSIDY TO END JULY 1 - MINISTER Dutch Social Affairs Minister Louw de\nGraaf announced he is withdrawing the annual 10 mln guilder\nlabour subsidy for Rotterdam\'s strike-hit general cargo sector\nas from July 1.\n    Late last month de Graaf said that if the dispute was not\nsettled by Monday this week he would withdraw the subsidy.\n    The chairman of the port employers\' organization, SVZ,\nJacques Schoufour, said he was unhappy with the decision and\nadded there was now no alternative to proceeding with\nredundancy plans.\n    The series of strikes in the sector started on January 19\nin protest at employers\' plans to make 800 redundancies from\nthe 4,000-strong workforce by 1990 starting with 350 this year.\n    Meanwhile, the port and transport union, FNV, attacked loss\nfigures given for the port for this year.\n    The figures, issued by accountants on behalf of the SVZ,\nput total losses for last year at 34 mln guilders and in 1985\nat 37 mln. Earlier, the employers had put the figure at around\n30 mln.\n    The FNV said the actual losses were nearer 17 to 20 mln and\nsaid the employers had inflated the figures as part of their\nplan to restructure completely the port\'s general cargo sector.\n Reuter\n&#3;',0
'S.A.Y.&lt;SAYI> TO TAKE 3RD QTR LOSS FROM SALE S.A.Y. Industries Inc said it\nexpects a loss of about two mln dlrs in its third quarter ended\nFebruary 28 from the proposed sale of its Omnilab Inc health\ncare unit.\n    S.A.Y said its board of directors approved the unit\'s sale\nbecause Omnilab was losing about 140,000 dlrs a quarter.\n    \"We no longer see a near-term prospect for a reasonable\nreturn on our investment,\" Romilly Humphries, S.A.Y. president\nand chief executive officer said.\n    S.A.Y. said proceeds from the sale would be used to\nincrease the company\'s market share in automotive products\npackaging and diversify its packaging capabilities.\n Reuter\n&#3;',0
'SONESTA INTERNATIONAL HOTELS CORP &lt;SNST> 4TH QTR Shr profit 26 cts vs loss 86 cts\n    Oper net profit 780,000 vs loss 2,609,000\n    Revs 12.2 mln vs 17.1 mln\n    Year\n    Oper shr profit 5.28 dlrs vs loss 1.11 dlrs\n    Oper net profit 16.1 mln vs loss 3,311,000\n    Revs 64.9 mln vs 69.8 mln\n    NOTE: 1986 year net excludes 598,000 dlr tax credit.\n    1986 net includes pretax gains on sale of property of\n2,330,000 dlrs in quarter and 24.5 mln dlrs in year.\n Reuter\n&#3;',0
'&lt;DOMCO INDUSTRIES LTD> 1ST QTR JAN 31 NET Shr four cts vs 12 cts\n    Net 248,000 vs 647,000\n    Revs 23.7 mln vs 21.9 mln\n Reuter\n&#3;',0
'UNICORP AMERICAN &lt;UAC> ACQUISITION ADVANCES Unicorp American Corp said it has\nsigned a definitive agreement for the previously-announced\nacquisition of Lincoln Savings Bank.\n    The company said the transaction is still subject to\nregulatory approvals.\n Reuter\n&#3;',0
'FIRST EASTERN CORP &lt;FEBC> COMPLETES ACQUISITION First Eastern Corp said it has\ncompleted the acquisition of Peoples Bank of Nanticoke, Pa., in\nan exchange of 11 First Eastern shares for each Peoples share.\n    Peoples has assets of about 24 mln dlrs.\n Reuter\n&#3;',0
'BISHOP GRAPHICS &lt;BGPH> COMPLETES STORE SALE Bishop Graphics Inc\nsaid it completed the sale of its Newport Beach Art Supply\nCenter to Standard Brands Paint Co\'s &lt;SBP> Art Store unit.\n    Terms were not disclosed.\n    Bishop also said it has opened a new sales and service\noffice in Irvine, Calif.\n   \n Reuter\n&#3;',0
'STRIKING BRAZILIAN SEAMEN HOLD PAY TALKS Striking Brazilian seamen, who say\nthey have made idle 158 ships and halted Brazilian exports,\ntoday held pay talks in Rio de Janeiro with Labour Minister\nAlmir Pazzianotto, union officials said.\n    Jorge Luis Leao Franco, a senior official of the National\nMerchant Marine Union, told Reuters he was optimistic the talks\nwould lead to an end of the stoppage, which began last Friday.\n    Brazil\'s 40,000 seamen are seeking a pay rise of 275 pct.\n    The union official said the strike had halted a total of\n158 vessels, including 50 in Brazil\'s main port, Santos, and\nabout 50 more in Rio de Janeiro.\n    Abroad, six ships lay idle, in the Netherlands, Spain,\nVenezuela, France and South Africa, he said.\n    Economic analysts said the strike was of serious concern to\nthe government, which has already had to suspend interest\npayments on part of Brazil\'s foreign debt following a drastic\ndeterioration in the country\'s trade balance.\n    The head of the National Merchant Marine Authority, Murilo\nRubens Habbema, was quoted in today\'s Gazeta Mercantil\nnewspaper as saying that if the strike continued foreign ships\ncould be authorized to transport Brazilian exports.\n    \"Brazil is living through a crisis at the moment, and it is\nnot conceivable that exports be hit,\" he said.\n    \"But even using foreign ships we must not forget that we are\ngoing to lose foreign exchange paying freight charges abroad,\nand all this through the fault of the seamen,\" Rubens Habbema\nsaid.\n    A spokesman for the port of Santos, which has been the\nscene of labour unrest and congestion in recent months, said\nmovement of ships out of the port was running at about half its\nnormal level of 12 ships a day.\n    He said a total of 76 ships were either waiting at anchor\non moored in the harbour.\n Reuter\n&#3;',0
'FED\'S JOHNSON SAYS DOLLAR IS VERY CLOSE TO APPROPRIATE EXCHANGE RATE LEVEL \n ',0
'BROWN GROUP INC &lt;BG> VOTES REGULAR DIVIDEND Qtly div 37-1/2 cts vs 37-1/2 cts prior qtr\n    Pay 1 April\n    Record 16 March\n Reuter\n&#3;',0
'BLOCKER ENERGY CORP &lt;BLK> YEAR NET Oper shr profit 11 cts vs loss 2.45 dlrs\n    Oper net profit 3,594,000 vs loss 81.9 mln\n    Revs 38.5 mln vs 48.2 mln\n    NOTE: 1986 net excludes 68.5 mln dlr gain from debt\nextinguishment.\n    1985 net includes 72.0 mln dlr writedown of drilling rigs.\n Reuter\n&#3;',0
'LTX CORP &lt;LTXX> 2ND QTR JAN 31 LOSS Shr loss 28 cts vs loss 32 cts\n    Net loss 2,585,000 vs loss 2,885,000\n    Sales 27.6 mln vs 23.5 mln\n    Avg shrs 9,352,000 vs 9,049,000\n    1st half\n    Shr loss 63 cts vs loss 94 cts\n    Net loss 5,867,000 vs loss 8,405,000\n    Sales 51.9 mln vs 43.7 mln\n    Avg shrs 9,349,000 vs 8,966,000\n    NOTE: Prior year net includes tax credits of 1,827,000 dlrs\nin quarter and 5,347,000 dlrs in half.\n Reuter\n&#3;',0
'YEUTTER SAYS U.S. BUDGET DEFICIT REDUCTION KEY TO TRADE DEFICIT SOLUTION\n ',0
'CALPROP CORP &lt;CPP> 4TH QTR NET Shr 40 cts vs 25 cts\n    Net 1,369,602 vs 628,193\n    Revs 12.5 mln vs 4,909,369\n    Avg shrs 3,460,217 vs 2,610,913\n    Year\n    Shr 97 cts vs 54 cts\n    Net 2,952,830 vs 1,414,369\n    Revs 37.0 mln vs 13.5 mln\n    Avg shr 3,031,494 vs 2,609,313\n    Note: Prior qtr and year per share figures restated for 10\npct stock dividend of December 1986.\n Reuter\n&#3;',0
'SIS CORP &lt;SISB> YEAR NET Shr one ct vs nil\n    Net 9,949,000 vs 3,799,000\n    Revs 15.5 mln vs 13.5 mln\n Reuter\n&#3;',0
'AMOSKEAG CO &lt;AMOS> SETS QUARTERLY Qtly div 30 cts vs 30 cts prior\n    Pay March 31\n    Record March Five\n Reuter\n&#3;',0
'MEDTRONIC INC &lt;MDT> SETS QUARTERLY Qtly div 22 cts vs 22 cts prior\n    Pay April 30\n    Record April 10 \n Reuter\n&#3;',0
'SCITEX CORP &lt;SCIXF> 4TH QTR LOSS Shr loss 46 cts vs loss 1.17 dlrs\n    Net loss 4,990,000 vs loss 12.8 mln\n    Revs 47.0 mln vs 42.3 mln\n    Year\n    Shr loss 3.08 dlrs vs loss 1.28 dlrs\n    Net loss 33.7 mln vs loss 13.3 mln\n    Revs 132.8 mln vs 132.5 mln\n    Avg shrs 10.9 mln vs 10.4 mln\n    NOTE: Includes losses of 501,000 vs 83,000 in qtr and 2.2\nmln vs 83,000 in year from equity of 50 pct-owned companies.\n Reuter\n&#3;',0
'STANLEY WORKS &lt;SWK> MAKES ACQUISITIONS Stanley Works said it has acquired Acme\nHolding corp, a maker of sliding and folding door hardware, and\nthe designs, patents and other righs of Plan-A-Flex Designer\nCo, which provides kits for home design and remodeling\nprojects.\n    It said Acme had 1986 sales of over 50 mln dlrs.\n    Terms were not disclosed.\n Reuter\n&#3;',0
'ANITEC IMAGE TECHNOLOGY CORP &lt;ANTC> SETS PAYOUT Qtly div 7-1/2 cts vs 7-1/2 cts prior\n    Pay April 10\n    Record March 27 \n Reuter\n&#3;',0
'GREEN MOUNTAIN POWER CORP &lt;GMP> SETS QUARTERLY Qtly div 45 cts vs 45 cts prior\n    Pay March 31\n    Record March 20 \n Reuter\n&#3;',0
'DUAL-LITE INC &lt;MDT> SETS QUARTERLY Qtly div eight cts vs eight cts prior\n    Pay May 11\n    Record April 24 \n Reuter\n&#3;',0
'SCIENCE MANAGEMENT CORP &lt;SMG> 4TH QTR OPER NET Oper shr profit 14 cts vs loss 31 cts\n    Oper net profit 374,000 vs loss 707,000\n    Revs 19.1 mln vs 15.5 mln\n    Avg shrs 2,610,000 vs 2,560,000\n    Year\n    Oper shr profit 20 cts vs loss 69 cts\n    Oper net profit 530,000 vs loss 1,376,000\n    Revs 69.1 mln vs 64.3 mln\n    Avg shrs 2,603,000 vs 2,565,000\n    NOTE: Excludes gain of 309,000 dlrs vs loss 72,000 dlrs in\nqtr and gains of 458,000 dlrs vs 23,000 dlrs in year from tax\nloss carryforwards. Includes gains of 76,000 dlrs and 378,000\ndlrs in 1985 qtr and year, respectively.\n Reuter\n&#3;',0
'YEUTTER SAYS BUDGET CUT KEY TO BETTER U.S. TRADE A reduction of the U.S. federal budget\ndeficit will be needed to help eliminate the nation\'s huge\ntrade deficit, U.S. trade representative Clayton Yeutter said.\n    Speaking to the New York Chamber of Commerce and Industry,\nYeutter said \"Capital and trade flows are clearly\ninter-releated now.\n    \"Unless we get the budget deficit down, we will not get the\ntrade deficit down.\"\n    He did not elaborate on his views of the linkages between\nthe two deficits.\n    Private analysts have said that the financing of large U.S.\nbudget deficits requires heavy capital inflows from overseas\ninvestors through purchases of U.S. Treasury and, to a lesser\nextent, other U.S. securities as well.\n    \"We\'ll make some progress in reducing the 170 billion dlr\ntrade deficit in 1987, but there\'s still a long way to go,\"\nYeutter said.\n    He said the problem must be approached on many fronts and\nfocus most strongly on U.S. and overseas fiscal and monetary\npolicies to foster economic growth, U.S. competitiveness and\nthe establishment of a \"level playing field\" for trade.\n    The U.S. trade representative said the Federal Reserve\nunder Chairman Paul Volcker has done its part to improve the\ntrade situation by getting interest rates down.\n    On the fiscal side, Yeutter said \"the budget deficit is\nstill our biggest problem\" and there has not been enough\nprogress toward reducing that deficit.\n    In the international area, he said that \"our major trading\npartners could still do more to stimulate domestic growth.\"\nCommenting on Japan, which is running around a 80 billion dlr\ntrade surplus with the United States, Yeutter said \"Japan is\njust not doing the job on the import side.\"\n    Yeutter declined to comment on statements relating to the\ndollar made earlier today by Commerce Dept undersecretary of\nEconomic Affairs Robert Ortner.\n    In a Washington address to an Export-Import Bank sponsored\nmeeting, Ortner said he believed the dollar at current levels\nwas fairly priced against most European currencies, but that\nthe yen is 10 or 15 pct undervalued.\n    \"The market will determine the dollar\'s proper value in the\nend,\" Yeutter said. However, he added that, if the U.S. and\nother nations do not take the necessary steps to cut the U.S.\ntrade deficit, \"the dollar will be the equalizer.\"\n    Yeutter said there is no quick fix to the trade problem and\nany resort to such tactics as protectionist trade legislation\nor trade restrictions poses real dangers.\n    He said \"there\'s relatively little that Congress can do to\nlegislate a solution to the trade problem.\"\n    Protectionist legislation will only provoke retaliation by\nU.S. trading partners, Yeutter said.\n    \"There is no doubt in my mind about the willingness of our\ntrading partners to retaliate against unfair trade\nlegislation,\" Yeutter said, adding that policy flexibility is\nessential in solving international trade problems.\n Reuter\n&#3;',0
'CARMEL CONTAINER SYSTEMS LTD&lt;KML> YEAR OPER NET Oper shr 1.18 dlrs vs 58 cts\n    Oper net 2,266,000 vs 1,037,000\n    Revs 45.8 mln vs 41.4 mln\n    Avg shrs 1,924,000 vs 1,800,000\n    NOTE: Excludes gain of 73,000 dlrs vs 290,000 dlrs from\nbenefit of tax loss carryforward.\n    Results for Tel Aviv, Israel-based company translated at\nrate of one dlr to 1.485 new Israeli shekels.\n Reuter\n&#3;',0
'NEW CURRENCY PROBLEM SEEN AMONG U.S, EUROPE, JAPAN The highly visible drama involving the\nyen\'s sharp rise against the U.S. Dollar is obscuring the fact\nthat the Japanese currency has hardly budged against major\nEuropean currencies, thus creating a new set of exchange rate\ndistortions, Japanese and European research officials said.\n    The officials, looking beneath the rhetoric of statements\nby the Group of Five (G-5) industrial nations, told Reuters the\ncurrency movements of the past two years are also creating a\nfundamentally new world trade picture, which is throwing up new\ntrade tensions and imbalances.\n    Trade figures show that the new currency alignments are\nalready changing the Japan-U.S. Trade axis into a Japan-\nEuropean Community (EC) axis, to the discomfort of Europe.\n    In many ways, not least in terms of rare international\ncooperation, the September, 1985 New York Plaza pact between\nthe U.S., Japan, West Germany, Britain and France to cut down\nthe value of the dollar was a historic one.\n    But it is the underlying peaks and troughs of the major\ncurrency movements which lay bare the real picture, in which\nthe Plaza pact appears as an event of prime importance, but not\nnecessarily central significance, the officials said.\n    The officials said that when the Plaza agreement took\nplace, the dollar was already on its way down. The agreement\nsimply helped it on its way. Senior EC financial expert in\nTokyo Tomas de Hora has watched the movements closely.\n    \"You have to look at the dollar\'s peak compared with now,\nand that was well before Plaza,\" he said.\n    On February 25, 1985, the dollar peaked against the yen at\n263.15 yen. On September 20, the Friday before Plaza, it was\n242. Since then, despite massive Bank of Japan intervention and\nperiodic market frights about further G-5 concerted action, the\ndollar trend has been down, down, down.\n    Yet the ECU is now around 173.4 yen. The historical cross\nrates for sterling and the mark tell much the same story. The\nEuropean currencies are moving back up against the yen.\n    The close relationship between exchange rates and trade\nflows makes it difficult to see which is driving which, but\nundoubtedly the trade equation between the big three is\nchanging. In 1986, Japanese imports and exports with the EC\nboth grew by around 50 pct in dollar terms, five pct in yen.\nThis gave Japan a 16 billion dlr trade surplus.\n    Last January, Japanese exports to the EC totalled half of\nof sales to the U.S, against about a third in recent years.\n    Trade with the U.S in 1986 rose 23 pct for exports and 12\npct for imports in dollar terms, but fell 13 pct for exports\nand 21 pct for imports in yen terms.\n    \"The basic meaning for Europe is that Japanese firms have a\ntremendous interest in exporting to Europe, where every unit\nsold maximises profits in yen terms, which is what is important\nto them. Suddenly, instead of the U.S., It is Europe that is\nlaying the golden egg,\" said de Hora.\n    The EC is worried. EC business also had a remarkable year\nin Japanese sales, but this can be explained partly due to its\nstart from a small base, compared with total Japan-U.S. Trade.\n    The Japanese think EC firms are now more competitive than\nU.S. Firms, a factor which is aggravating the exchange rate\nimbalance, and which will cause problems.\n    \"This currency alignment between Japan and the EC is\nreflecting the excellent performance of the EC countries. But\ntherefore, Japanese goods may keep their price competitive\nedge,\" said Azusa Hayashi, Director of the First International\nEconomic Affairs Division of the Foreign Ministry. \"If you want\nmy objective view, I don\'t expect a drastic improvement in our\ntrade imbalance. Last year, we asked for moderation in exports,\nand this year we may have to do so again,\" he said.\n REUTER...\n&#3;',0
'TANDEM COMPUTERS &lt;TNDM> SEES HIGHER NET Tandem Computers Inc said it expects\nhigher earnings and revenues in its second fiscal quarter\nending March 31 against a year ago.\n    \"We feel we will continue to see higher growth in the\nquarter,\" James Treybig, president and and chief executive\nofficer, told a meeting of securities analysts.\n    In the second fiscal quarter last year, Tandem earned\n9,950,000 dlrs or 29 cts per share on revenues of 176.3 mln\ndlrs.\n    Treybig declined to offer specific projections for the\nquarter but he said the results might be lower than those for\nthe first quarter of fiscal 1987, when Tandem earned 27.1 mln\ndlrs or 58 cts a share. He said Tandem\'s second quarter is\ntraditionally slower than the first.\n    L.F. Rothschild Unterberg Towbin analyst Frederic Cohen\nestimated Tandem\'s second quarter net at 40 to 45 cts per\nshare. For the full year, he said he expects the computer maker\nto earn about 2.40 dlrs a share. In fiscal 1986, Tandem earned\n1.44 dlrs a share.\n    Treybig, who founded the Cupertino, Calif.-based company,\nsaid he has seen a rebound in computer orders in the United\nStates. \"The U.S. economy is picking up, and buying decisions\nare being made. We didn\'t see that a year ago,\" he said.\n    The executive said Tandem will increase its research and\ndevelopment spending to about 100 mln dlrs this year from 87\nmln dlrs in fiscal 1986.\n    He said the company plans to introduce several products,\nincluding two low-end systems and a data base that uses the SQL\nprogramming language, an industry standard. Tandem also won a\nmajor order from the &lt;Bank of Tokyo>.\n\n Reuter\n&#3;',0
'FED\'S JOHNSON SAYS HE DOES NOT SEE INCREASING PRESSURE ON INTEREST RATES\n ',0
'AUSTRALIA ATTACKS U.S. GATT FARM RULES EXEMPTION Australia accused the U.S. of increasing\nprotectionism on agricultural products and called for an end to\nWashington\'s special 32-year exemption from certain GATT rules\non agricultural trade.\n    Robert Arnott, Australia\'s delegate to the General\nAgreement on Tariffs and Trade (GATT), made the appeal at a\nspecial annual meeting which reviews the 1955 U.S. waiver.\n    \"Australia today said the United States\' goals of reducing\nU.S. barriers to agricultural trade were being contradicted by\nactions which in fact increased protection in trade in\nagriculture,\" the Australian delegation said in a statement.\n    \"The United States section 22 waiver is one of the basic\nflaws in the GATT coverage of agriculture,\" Arnott told the\nmeeting.\n    Arnott said the waiver had continually been used as a\njustification for \"dubious protective measures\" by the U.S. He\nlisted a recent Dairy Export Incentive Program and steps to\nclose the U.S. sugar market to imports.\n    He also told Reuters the waiver allowed Washington to\nimpose quotas on imports of farm products where it had domestic\nsupport programs. This covered imports of dairy products,\npeanuts, cotton and sugar.\n    Asked to comment, Michael Samuels, U.S. ambassador to the\nGATT, told Reuters: \"These charges have been made since the very\nbeginning. The waiver is part of domestic U.S. agricultural\npolicy, part of our law when we joined the GATT\".\n    \"We have agreed to put the waiver on the table during the\nUruguay Round and invite other countries to do the same with\ntheir programs. We can negotiate them all,\" Samuels added.\n    Ninety-two nations are taking part in the four-year Uruguay\nround of talks launched in Punta del Este last September.\nBargaining in agricultural goods and services (banking,\ntourism, insurance) is included for the first time as well as\nmanufactured goods.\n Reuter\n&#3;',0
'FIRST UNION &lt;FUNC> TO BUY FLORIDA BANK First Union Corp said it has\nagreed to acquire First State Bancshares Inc of Pensacola,\nFla.,  and its First State Bank of Pensacola subsidiary for\nabout 457,000 common shares.\n    First State has assets of about 110 mln dlrs.  The\nacquisition, expected to be treated as a pooling of interests,\nis expected to be completed in the third quarter of 1987\nsubject to approval by regulatory agencies and First State\nshareholders.\n Reuter\n&#3;',0
'OPPENHEIMER RAISES NWA &lt;NWA> EARNINGS ESTIMATE Oppenheimer and Co analyst Robert\nMcAdoo raised his 1987 earnings estimate for NWA Inc, parent of\nNorthwest Airlines, following a strong quarterly report by the\ncompany yesterday, according to Oppenheimer market strategist\nMichael Metz.\n    NWA shares rose 1-5/8 to 74-3/8 in active trading.\n    McAdoo raised his 1987 estimate to 7.50 dlrs a share from\nfive dlrs and maintained a buy recommendation on the stock,\nMetz said.\n    McAdoo was traveling and could not be reached for comment.\n    Yesterday, Minneapolis-based NWA reported fourth quarter\nnet of about 9.8 mln dlrs or 45 cts a share against a loss of\ntwo mln dlrs or nine cts in the 1985 quarter.\n    For the year, earnings rose to 76.9 mln dlrs or 3.26 dlrs\nfrom 73.1 mln or 3.18 dlrs. The 1986 results include Republic\nAirlines since NWA acquired it Aug 12, 1986.\n Reuter\n&#3;',0
'HOUSE 0/92 FARM PROPOSAL SEEN SPARKING DEBATE A House Agriculture Committee meeting\nlater today to draft a disaster aid bill is expected to spark a\ndebate between lawmakers who want to expand the 0/92, or\n\"de-coupling,\" provision to cover feedgrains, and those who\noppose 0/92 or want it severely limited, Congressional sources\nsaid.\n    The disaster aid bill as it now stands calls for a one-year\n0/92 pilot program for 1987 crop wheat and the 1988 winter\nwheat crop. The bill would allow farmers to forego planting and\nstill receive 92 pct of deficiency payments.\n    The administration has strongly urged that the bill be\nexpanded to feedgrains and to more than one year.\n    It is difficult to tell in what form the 0/92 provision\nwill emerge from the committee, the sources said.\n    Proponents of an expansion of 0/92 maintain there are large\nestimated cost savings of such a bill -- ranging from estimates\nby the administration of 200 to 500 mln dlrs.\n    Opposition to a reopening of the 1985 farm bill at this\ntime is the major reason cited by those against an expansion of\nthe bill, committee staffers said.\n    The 0/92 plan is scheduled to be discussed at 1530 EST. A\nconflicting floor vote delayed the start of the meeting, and\nstaffers said it may have to be delayed even until next week.\n    Such a delay would not bode well for proponents of an\nexpanded 0/92 program, since spring planting in many areas of\nthe country will be underway in the next few weeks and signup\nfor the 1987 wheat and feedgrains program ends March 30.\n    Farmers are now making their planting decisions, so\nsomething has to be done quickly if a 0/92 program is to be\nimplemented, an Agriculture Department source said.\n    An expansion of 0/92 to feedgrains was opposed in last\nweek\'s subcommittee hearing on the bill, with subcommittee\nchairman Dan Glickman, D-Kan., saying that more study of the\nconsequences of decoupling on feedgrains plantings was\nnecessary.\n    Major commodity groups, including the National Corn\nGrowers, the American Farm Bureau and the National Cattlemen\'s\nAssociation, have voiced strong opposition to 0/92.\n    But proponents of an expanded 0/92 argue that the bill\ncurrently is not equitable for all grains producers, so it\nshould be extended to other crops.\n    There will be difficulty in limiting 0/92 to wheat, said\nGene Moos, aide to house majority leader Tom Foley, D-Wash.\n    Projected cost savings, in the current atmosphere of try to\ndecrease farm expenditures, would also be hard to ignore in the\ndebate to expand the 0/92 application, Moos said.\n    Rep. Charles Stenholm, D-Tex., may be planning to introduce\na bill to restrict 0/92 to only 1987 crop wheat, with the\nargument that now is not the time to vote in favor of any major\nchanges in the farm bill.\n    \"Stenholm\'s bill is not a rejection of 0/92, only of the\ntiming,\" a congressional staff member said.\n    Rep. Arland Stangeland (R-Minn.) is reported to have an\namendment to expand the 0/92 provision to 1987 and 1988\nfeedgrains.\n Reuter\n&#3;',1
'YELLOW FREIGHT &lt;YELL> SEES LOWER 1ST QTR NET Yellow Freight System Inc said\nits expects 1987 first quarter profits to be substantially\nbelow the 14.2 mln dlrs or 50 cts a share earned in the same\nperiod a year ago.\n    Revenues have been depressed by recent price discounting,\nadded costs from expansion programs, lower shipping volumes and\nincreased costs associated with severe weather conditions\non the East coast, company officials told analysts here.\n    An industry-wide rate hike of 2.9 pct, set for April one,\nwill cover Yellow Freight\'s upcoming labor and other costs but\nwill not make a contribution to operating margins, it said.\n Reuter\n&#3;',0
'NOVA SUBSIDIARY RAISES U.S. POLYETHYLENE PRICES Novacor Inc, a unit of &lt;Nova,\nan Alberta Corp>, said it would raise prices for U.S. customers\nby five cts a pound on linear low-density and low-density\npolyethylene, effective April 1.\n    The company did not immediately disclose the actual new\nprices.\n    A Novacor official later said in reply to an inquiry that\nthe new prices, effective April 1, would range from 31 U.S. cts\na pound to about 38 cts.\n    The official said the increase reflected improved market\nconditions, although he noted the new prices would still be\nlower than those of three years ago.\n Reuter\n&#3;',0
'MOULINEX STAKE SOLD TO SOME 50 INSTITUTIONS The 20 pct stake in Moulinex SA &lt;MOUP.PA>\nsold by &lt;Scovill Inc> of the U.S. Was spread among at least 50\ninstitutional investors worldwide, a spokesman for brokers\nJames Capel said. Capel handled the deal.\n    The buyers were based in centers ranging from Europe to\nNorth America and Japan, he added.\n    Moulinex\'s capital is split among Jean Mantelet, president\nof the company, with 42 pct, along with private investors\nholding 38 pct and the 20 pct which has just been sold, company\nsources said earlier in Paris.\n REUTER\n&#3;',0
'TALKING POINT/PIEDMONT &lt;PIE> Carl Icahn\'s bold takeover bid for\nUSAir Group &lt;U> has clouded the fate of Piedmont Aviation Inc,\nwhich was being courted by USAir.\n    Yesterday, Icahn\'s Transworld Airlines Inc &lt;TWA> made a 1.4\nbillion dlr offer for USAir Group. The move complicated a USAir\ntakeover offer for Piedmont, which was believed to be close to\naccepting the bid.\n    Today, USAir rejected Icahn\'s 52 dlr per share offer and\nsaid the bid was a last-minute effort to interfere in its\ntakeover of Piedmont. Icahn was unavailable for comment.\n    Piedmont fell one to 68-5/8 on volume of 963,000. TWA was\noff 3/8 to 31-1/2. USAir fell 1-3/8 to 47-3/4 as doubt spread\nit would be taken over.\n    Analysts and market sources view the TWA bid as an attempt\nto either trigger a counter offer from USAir or to attract a\nsuitor who might want both airlines once they merged.\n   \"The next move is either Icahn starts a tender offer or\nPiedmont and USAir announce a deal,\" speculated one arbitrager.\n    Some arbitragers said there is now some risk in the current\nprice of Piedmont since it is not clear that USAir\'s bid will\nsucceed.\n    Piedmont\'s largest shareholder and other suitor, Norfolk\nSouthern Corp &lt;NSC> has offered 65 dlrs per share for the\ncompany. USAir offered 71 dlrs cash per share for half of\nPiedmont stock, and 73 dlrs per share in stock for the balance.\n    Some arbitragers, however, believe the depressed price of\nPiedmont offers a buying opportunity since the airline is\ndestined to be acquired by someone. USAir, they said, is the\nleast likely to be bought.\n    Icahn, who has long talked about further consolidation in\nthe airline industry, also offered USAir the alternative of a\nthree-way airline combination, including TWA and Piedmont.\n    But Wall Street has given little credibility to Icahn\'s\noffer, which lacked financing and was riddled with\ncontingencies.\n    Still, he has succeeded in holding up a merger of two\nairlines - both of which analysts said would fit well with TWA.\n    \"You can\'t discount him,\" said one arbitrager.\n    Analysts, however, said Icahn would have to prove he is\nserious by following through with his threats or making a new\noffer. In making the offer for USAir, Icahn threatened to go\ndirectly to shareholders for 51 pct of the stock at a lower\nprice if USAir rejected his offer.\n    \"It\'s clear Icahn wants to sell and he\'s bluffing,\" said\none arbitrager.\n    Analysts said the 52 dlr per share offer was underpriced by\nabout six dlrs per share.\n    Some analysts believe Icahn\'s proposed three-way airline\ncombination might face insurmountable regulatory hurdles, but\nothers believe it could be cleared if the companies are\nacquired separately.\n    \"TWA would have to be the surviving company for the deal to\nwork,\" said one analyst.\n    Analysts said such a merger would be costly and\ncomplicated. TWA has the best cost structure, since Icahn\nsucceeded in winning concessions from its unions.\n    In order for the other carriers to come down to TWA\'s wage\nscale in a merger, TWA would have to be the surviving entity,\nanalysts said.\n    Such a move does not necessarily free Icahn of TWA, they\nsaid. They said he showed skill in reducing Ozark Airlines\'\ncosts when he merged it into TWA last year, and he might be a\nnecessary ingredient for a merger to work.\n    However, other analysts speculated the managements of\nPiedmont and USAir would not tolerate Icahn as head of a new\ncompany. They said a USAir acquisition of TWA might be a way\nfor him to exit the company if USAir\'s airline is then merged\ninto TWA.\n Reuter\n&#3;',0
'BAKER INT\'L &lt;BKO> HOPES TO COMPLETE MERGER Baker International Corp treasurer Eric\nMattson said the company hoped to iron out snags in a proposed\nmerger with Hughes Tool Co &lt;HT> but declined to say if or what\ncompromises might be acceptable to it.\n    The proposed merger that would create a 1.2 billion dlr\noilfield services company was thrown into limbo yesterday when\nHughes management, balking at the terms of a government consent\ndecree, offered a counter-proposal to Baker.\n    Earlier today, Hughes adjourned a shareholders meeting\ncalled to vote on the proposed merger until March 11 and said\nit hoped to resume negotitations with Baker.\n    Hughes chairman W.A. Kistler told reporters that Hughes did\nnot want to sign the Department of Justice consent decree until\nafter Baker\'s submersible pump and drilling bit operations were\nsold.\n    Mattson told Reuters that Baker still believed a merger was\npossible between the two giant oilfield service companies.\n    \"The company\'s position is we would like to see the merger\nbe completed, which is in the best interests of our\nshareholders and their shareholders,\" Mattson said.\n    \"Our goal is for a merger to occur. Because of the\nlitigation, I can\'t go any further than that,\" he said.\n    Baker filed a lawsuit in Texas state court late yesterday\nto force Hughes to abide by terms of the proposed consent\ndecree.\n    Mattson also declined to comment on whether the directors\nof Baker and Hughes have scheduled any meetings to discuss the\nmerger.\n Reuter\n&#3;',0
'LUCKY STORES INC REINSTATES QUARTERLY DIVIDEND AT 12.5 CTS PER SHARE\n ',0
'HOMESTEAD FINANCIAL &lt;HFL> UPS CASH DIVIDEND Homestead Financial Corp\nsaid it has increased the dividend on its Class A common shares\nto 6-1/4 cts a share, from five cts prior, while declaring an\ninitial dividend on its Class B common stock of 3-3/4 cts a\nshare.\n    Homestead said the two classes of stock emerged as part of\nits recapitalization plan which also doubled the number of\nauthorized common, comprising both classes, to 11 mln shares.\n    Homestead said the dividends are payable on April 6, to\nshareholders of record March 20.\n    Homestead also said that class b shareholders who want to\nincrease their dividends may exchange their shares for an equal\nnumber of class A shares on or before March 20.\n Reuter\n&#3;',0
'ELECTRO-SENSORS INC &lt;ELSE> YEAR OPER NET Oper shr 52 cts vs 51 cts\n    Oper net 626,013 vs 613,127\n    Sales 4,544,929 vs 4,402,572\n    NOTE: Earnings exclude extraordinary securities loss of\n29,532 dlrs, or two cts a share vs a gain of 81,358 dlrs, or\nseven cts a share\n\n Reuter\n&#3;',0
'CHINA ADDS, CANCELS WHEAT COMMITMENTS - USDA China has added 90,000 tonnes of U.S.\nwheat to its purchases for delivery in the 1987/88 season and\ncancelled 30,000 tonnes of wheat purchases for delivery in the\n1986/87 season, the U.S. Agriculture Department said.\n    According to the department\'s Export Sales Report covering\ntransactions in the week ended February 26, China has\noutstanding wheat commitments for the 1986/87 season of 30,000\ntonnes and 420,000 tonnes for delivery in the 1987/88 season.\n    The wheat season begins June 1.\n    China has total corn commitments for 1986/87 of 1,011,200\ntonnes and soybeans commitments of 157,500 tonnes.\n    The season for corn and soybeans began September 1.\n Reuter\n&#3;',1
'OPEC PRESIDENT SAYS OUTPUT WELL BELOW CEILING Opec Conference President Rilwanu Lukman\nsaid the group was producing well below the 15.8 mln bpd\nceiling it set in December, partly because liftings had been\ndelayed or postponed by customers unwilling to pay fixed Opec\nprices.\n    Lukman, during a brief visit to London on his way home from\nJamaica, told Reuters in a telephone interview that in\nFebruary, Opec had underproduced partly because members were\nstrictly abiding by production quotas and partly because they\nwere resisting the temptation to sell at discounts to official\nprices of around 18 dlrs a barrel.\n    \"We are determined to stand firm by the (December) accord,\"\nhe said. \"I have spoken to every other Opec minister and they\nare committed to making the accord work,\" he said.\n    Lukman gave no specific figures for February output. He\nsaid the Opec secretariat in Vienna was finalizing these\nfigures.\n    Told of a Reuters survey published today which estimated\nthat Opec output so far this week was below 15 mln bpd, he\nsaid; \"That could well be correct.\"\n    Opec\"s news agency Opecna today issued a statement saying\ngroup output was \"well below\" its ceiling in February. But it\ngave no figures.\n    But one source close to Opec indicated that February output\nmay have been between 15.3 and 15.5 mln bpd.\n    The Reuter survey estimated Opec February output at around\n16 mln bpd.\n    Opec agreed in December to cut output by 7.25 pct to 15.8\nmln bpd and to return to fixed prices starting February 1.\n    Lukman said Qatar, Nigeria, Saudi Arabia and Iran had all\nproduced in February below their Opec quotas. Iraq, which said\nit would not honour its 1.466 mln bpd quota under the December\npact, had produced less than had been anticipated, he said.\n    Lukman said that some industry reports \"may be correct\" that\nin February, Nigeria propuced 75-100,000 bpd below its 1.238\nmln bpd quota, Saudi Arabia 500,000 bpd less than its 4.133 mln\nallocation and Qatar 20 to 30 pct under its 285,000 bpd quota.\n    He said that sweet crudes such as those produced by his\ncountry were coming under price pressure because they were\ncurrently officially priced above sweet North Sea grades and\nthe United States\" West Texas Intermediate (WTI) crude.\n    However, he said Opec in December had anticipated that\ndemand would be slack at this time of year for seasonal reasons\nand expected the market to firm in two to three weeks.\n    \"We have to be patient for two or three weeks. The market is\nnow firming on actual fundamentals,\" he said, adding that he\nexpected it to go \"up and up\" even beyond official prices after\nearly April. This is when, traditionally, there is more demand\nfor gasoline-rich crudes such as Nigeria\"s.\n    The Opec President said producers such as Kuwait, Venezuela\nand Indonesia were having less problems with output than\nproducers like his own country because they exported oil\nproducts.\n    Also, some of Venezuela\"s heavy grades were outside the Opec\npricing system, he said.\n    Lukman said that if refiner-buyers, now refusing to lift\nsome Opec oil at official prices, instead used their own stocks\nand ran them down to \"dangerous levels,\" they would eventually\nhave to buy Opec oil.\n    \"When they realise it is not a free-for-all (in the market)\nthey will realise they should buy now instead of paying more\nlater on,\" he said.\n    Lukman, asked about industry reports that Nigeria was being\npressured by equity producers for better terms, said it was\nimportant to know that terms with them were negotiable,\nflexible and under constant review, not only when the market\nseemed weak.\n    He said that so far, no meeting of the seven-nation\nministerial differentials committee had been scheduled and that\nsuch a meeting, now twice-postponed, was not a high priority\nfor Opec at the moment.\n    \"At this time, we have to get our priorities right,\" he said.\n\"The most important thing now is ensuring that the accord is\nworking, not dealing with a differential of cents between\ngrades.\"\n    But if any Opec member raised concerns or objections over\nthe differential system, a meeting would be called, he said.\n Reuter\n&#3;',0
'LUCKY STORES INC &lt;LKS> REINSTATES QUARTERLY DIV Qtly div 12.5 cts vs nil\n    Pay April 3\n    Record March 16\n    Note: in quarters preceeding 4th qtr, dividend was 29 cts.\n Reuter\n&#3;',0
'CARMEL CONTAINER SYSTEMS LTD&lt;KML> YEAR OPER NET Oper shr 1.18 dlrs vs 58 cts\n    Oper net 2,266,000 vs 1,037,000\n    Revs 45.8 mln vs 41.4 mln\n    Avg shrs 1,924,000 vs 1,800,000\n    NOTE: Excludes gain of 73,000 dlrs vs 290,000 dlrs from\nbenefit of tax loss carryforward.\n    Results for Tel Aviv, Israel-based company translated at\nrate of one dlr to 1.485 new Israeli shekels.\n Reuter\n&#3;',0
'CUBAN CATTLE THREATENED BY DROUGHT Over 750,000 head of cattle are suffering\nthe effects of a severe shortage of feed as a result of a\nprolonged drought in the normally rich sugar and cattle\nproducing province of Camaguey, the newspaper Granma reported.\n    The province produces 23 pct of Cuba\'s beef and is the\nisland\'s number two province in milk production. Granma said\n20,000 head of cattle are now in imminent danger.\n    The newspaper said a \"cattle emergency\" had been decreed and\nthe cattle are being rounded up.\n    Some 110,000 head have been transferred to the sugar cane\nconditioning centers where newly harvested cane is cleaned\nbefore being sent to the mills. The cattle are being fed the\nresidue left after cleaning the cane stalks. 32,000 head have\nbeen sent to nearby provinces of Las Tunas and Ciego de Avila.\n    Despite Cuba\'s ambitous cattle development plans, beef\nrationing has been in effect over the past 25 years. In Havana,\neach Cuban receives approximately 3/4 lb of rationed beef every\n18 days.\n    In a major area hit by drought, San Miguel, practically no\nrain has fallen in the past 14 months. Grazing lands are\nparched and the region was unable to produce 117,000 tonnes of\nsilage projected in its annual plan.\n    Granma said rainfall over the past year has been less than\n50 pct of normal precipitation.\n Reuter\n&#3;',0
'U.S. TO SET ORANGE JUICE DUTIES MONDAY The Commerce Department on Monday\nwill set final dumping duties on frozen orange juice from\nBrazil, department officials said.\n    A preliminary duty of 8.54 pct was set last Oct 17 on the\nimports, which run at about 700 mln dlrs a year. Commerce\'s\nruling on Monday will reset the duties on the basis of more\ndetailed cost information, industry officials said.\n    The duties now are being assessed on a temporary basis,\npending a final ruling by the U.S. International Trade\nCommission (ITC) on whether the imports are injuring the\ndomestic orange industry.\n    The ITC ruled provisionally last June 18 that the domestic\nindustry was being injured by Brazilian orange juice imports.\n    A complaint that the Brazilian imports were being dumped at\nbelow costs on the U.S. market was filed on behalf of U.S.\ngrowers by the Florida Citrus Mutual, a Lakeland, Fla., group,\nAlcoma Packing Co, Inc, and Barry Citrus Products.\n    U.S. officials say about half of the orange juice consumed\nin the United States comes from Brazil.\n reuter\n&#3;',0
'LONGVIEW FIBRE CO &lt;LFBR> QUARTERLY DIVIDEND Qtly div 40 cts vs 40 cts\n    Pay April 10\n    Record March 25\n Reuter\n&#3;',0
'BEI HOLDINGS LTD &lt;BEIH> 1ST QTR JAN 31 NET Shr 13 cts vs eight cts\n    Net 1,364,712 vs 881,082\n    Rev 11.6 mln vs 11.5 mln\n    NOTE: Qtr includes extraordinary gain of 586,826 dlrs, or\nsix cts a share, versus 183,850 dlrs or two cts a share in\nfiscal 1986\'s first qtr.\n Reuter\n&#3;',0
'ENDEVCO &lt;EI> AGREES TO BUY MISSISSIPPI PIPELINE Endevco Inc said it has agreed to acquire\na 17.5-mile, 16-inch pipeline in Marion and Pearl River\nCounties, Mississippi, for undisclosed terms.\n    The company said the pipeline was recently constructed from\nthe Poplarville gas field in Pearl River County to a proposed\ninterconnect with a pipeline operated by Occidental Petroleum\nCorp\'s &lt;OXY> United Gas Pipe Line Co subsidiary in Marion\nCounty but has nmot been placed in service.\n    Endevco said it plans to extend its existing Mississippi\nFuel Co System in southern Mississippi 18 miles to the new\npipeline.\n Reuter\n&#3;',0
'ATLANTIC CITY ELECTRIC CO &lt;ATE> SETS PAYOUT Qtly div 65-1/2 cts vs 65-1/2 cts prior\n    Pay April 15\n    Record March 19\n Reuter\n&#3;',0
'KEMPER CORP &lt;KEMC> REGULAR PAYOUT SET Qtly div 15 cts vs 15 cts previously\n    Pay May 29\n    Record May Eight\n Reuter\n&#3;',0
'FFB &lt;FFCT> SETS INITIAL QUARTERLY DIVIDEND FFB Corp, parent of the First\nFederal Bank of Connecticut FSB, said it declared an initial\nquarterly dividend of five cts per share.\n    The company said the dividend is payable March 31 to\nholders of record March 17.\n Reuter\n&#3;',0
'UNION CARBIDE SAYS OPERATING PROFITS FOR 4th qtr WERE 181 MLN DLRS VS LOSS THREE MLN DLRS\n ',0
'MONEY MARKET FUND ASSETS ROSE 552.5 MLN DLRS IN LATEST WEEK TO 237.46 BILLION\n ',0
'COMBINED INTERNMATIONAL &lt;PMA> SEES STRONG 1987 Combined International Corp should have\nanother strong year, President Patrick G. Ryan told analysts,\nalthough he declined to forecast earnings specifically.\n    In 1986, the company reported operating income of 5.51 dlrs\na share, up from 4.84 dlrs a share a year earlier. Revenues\nincreased to 1.81 billion dlrs from 1.36 billion dlrs.\n    Ryan said Combined is testing a direct response long-term\ncare product through its Union Fidelity Life Insurance Co and\nhas plans to offer it through Ryan Insurance Group.\n    In answer to a question on Combined\'s possible exposure to\nAIDS-related health claims, Ryan said it was \"minimal\" although\nhe conceded that every carrier who provides coverage is\nvulnerable.\n Reuter\n&#3;',0
'CANADA DLR DRIVEN BY FOREIGN BUYERS - WILSON Finance Minister Michael Wilson said\nlarge inflows of capital into Canada, principally into the\ncountry\'s bond market, is a major reason behind the sharp\nrecovery in the Canadian dollar.\n    He said the inflow of funds, mainly from Japan, Europe and\nthe United States, is the result of \"confidence in the\ndirection this country is going in.\"\n    \"That is the reason why the (Canadian) dollar today is\nhigher than 75 cts (U.S.) compared to this time last year (when\nit was) a little over 69 cts,\" Wilson told the House of Commons\ndaily question period.\n    Figures released this week show foreigners purchased a\nrecord 23.1 billion dlrs of Canadian bonds in 1986, more than\ndouble the previous year, with Japan investing a record 9.5\nbillion dlrs in the market.\n    Wilson was responding to opposition party questions about a\npossible loss of jobs from the rise in Canadian investment\nabroad. Canadian investment, including the buying of foreign\ncompanies, stocks and bonds, rose to 12.53 billion dlrs from\n6.19 billion dlrs in 1985.\n    The minister said the flow of funds from abroad would\ngenerate many new jobs in Canada.\n Reuter\n&#3;',0
'CHARTWELL GROUP LTD &lt;CTWL> 4th qtr net Shr nine cts vs three cts\n    Net 549,000 vs 72,000\n    Rev 7.0 mln vs 2.8 mln\n    Year\n    Shr 49 cts vs 32 cts\n    Net 2,441,000 vs 801,000\n    Rev 19.6 mln vs 9.7 mln\n   \n Reuter\n&#3;',0
'PITT-DES MOINES INC &lt;PDM> TO ACQUIRE STEEL UNIT Pitt-Des Moines Inc said it will\nacquire &lt;Chicago Steel Corp> in exchange for a portion of its\nstock.\n Reuter\n&#3;',0
'GIANT BAY &lt;GBYLF> DETAILS GORDON LAKE DEPOSIT Giant Bay Resources\nLtd said a metallurgical study of its Gordon Lake gold deposit\nindicated an overall recovery of 95 pct to 96 pct of the gold\ncan be achieved by either direct cyanidation of ore or\nflotation followed by cyanidation of concentrate.\n    Continuation of an underground program on the property will\nbegin in June, extending an existing drift along the\n200-foot-level where the main ore zone was encountered, Giant\nBay said.\n    The company did not elaborate on production figures for the\nproperty.\n Reuter\n&#3;',0
'CONSENSUS BUILDS FOR WORLD AGRICULTURAL REFORM Top U.S. and European farm trade and\ngovernment representatives called for a sweeping reform of\nworld agriculture to redress a critical demand and supply\nimbalance.\n    Speakers at a conference on world agricultural markets here\ndemonstrated a growing U.S.-European consensus on the need for\nan urgent and collective overhaul of world farm trade and\nproduction.\n    \"It is vital that we work together to bring more freedom and\nharmony into the world agricultural trade...(if not) the\ndisruptions in markets may grow even more severe, the walls of\nprotection climb higher and the level of possible retaliation\nbecome more harmful,\" U.S. Department of Agriculture Deputy\nAdministrator William Bailey said.\n    Bailey said his attendance at the two-day meeting, which\nends tomorrow, demonstrated the U.S. recognises the need to\nadjust its policies to the changing market environment.\n    The need for urgent reforms is justified by the \"imbalance\nand tensions of the world economy,\" the secretary general of the\nOrganisation for Economic Cooperation and Development\nJean-Claude Paye said.\n    And the forum for such a reform is the General Agreement on\nTariffs and Trade, he noted.\n    Paye stressed the need for a progressive and joint\nreduction of agricultural subsidies as well as social measures\nto help farmers in unprofitable areas.\n    Another possible solution would be to stop supporting farm\nprices, allowing them to be fixed by supply and demand, and\ninstead help farmers through income support and adjustment\naids, proposed James Howard, Executive Vice-president of\nCargill (USA), one of the world\'s largest cereal houses.\n    Franz-Josef Feiter, agricultural adviser to West German\nChancellor Helmut Kohl, agreed the European Community must take\ngreater heed of market constraints in fixing farm prices.\n    However, \"differentiated policy treatment is required\" to\ntake account of large disparities in the situation around the\nEC, he said.\n    \"Agriculture is an efficient sector of the European economy\nand will remain so if the right policy is pursued within the\nCommunity,\" he said.\n Reuter\n&#3;',0
'REXCOM &lt;RXSC> TO ACQUIRE MARKETING FIRM Rexcom Systems Corp said it agreed to\nbuy all the assets of Postech Inc from Comtech Group\nInternational Ltd, a Canadian computer service company, for 70\npct of Rexcom\'s voting shares.\n    The purchase will be for Rexcom common and preferred stock.\n    Postech, the Canadian firm\'s U.S. marketing arm, sells\ncomputerized restaurant management systems and security systems\nin the U.S.\n    The deal is subject to approval by the boards of Postech\nand Rexcom.\n Reuter\n&#3;',0
'ASCS BUYS PEANUT PRODUCTS, VEG OIL/SHORTENING The Agricultural Stabilization and\nConservation Service (ASCS) bought 2.3 mln pounds of peanut\nproducts at a cost of 2.1 mln dlrs and 7.4 mln pounds of\nvegetable oil/shortening for 2.0 mln dlrs, for domestic\ndistribution April 1-15 and April 16-30, an ASCS spokesman\nsaid.\n Reuter\n&#3;',0
'GENERAL REFRACTORIES CO &lt;GRX> 4TH QTR NET Shr 17 cts vs 84 cts\n    Net 709,000 vs 3,605,000\n    Rev 86.4 mln vs 87.0 mln\n    Year\n    Shr 1.79 dlrs vs 1.10 dlrs\n    Net 7,452,000 vs 4,695,000\n    Rev 362.8 mln vs 316.0 mln\n    NOTE: 1986 net includes gains from sale of non-operating\nassets of 800,000 dlrsm versus 1.2 mln dlrs in 1985.\n    1985 net includes nonrecurring cost of 2.6 mln dlrs and\nprovision for separation pay of 1.5 mln dlrs.\n Reuter\n&#3;',0
'HOUSE 0/92 FARM PLAN MARKUP DELAYED TILL TUESDAY A House Agriculture Committee meeting\nto draft a disaster aid bill containing a controversial 0/92\nprovision has been postponed until next Tuesday, committee\nstaff members announced.\n    The bill contains a provision implementing a 0/92 acreage\nreduction plan for 1986 wheat and 1987 winter wheat, thereby\nmaking payments available to farmers who were not able to plant\nlast year\'s winter wheat crop because of flooding.\n    Controversy exists over whether the 0/92 provisions of the\nbill should be expanded, cut back or left as is.\n Reuter\n&#3;',1
'UNION CARBIDE &lt;UK> SAYS LONG TERM DEBT RISES Union Carbide Corp said its 1986\nlong term debt was 3.06 billion dlrs compared to 1.71 billion\ndlrs in 1985.\n    The company released its audited 1986 results.\n    The company also said its long term debt was reduced by\nabout 1.5 billion dlrs from the third quarter to the end of the\nyear by asset sales and equity offerings. Union Carbide sold\nits battery products, home and automobile products and\nagricultural products businesses in 1986. In the fourth\nquarter, it offered 30 mln shares of stock, raising about 650\nmln dlrs.\n    The asset sales and equity offering were part of a\nrecapitalization plan undertaken by the chemicals company last\nyear.\n    Audited net earnings in 1986 of 496 mln dlrs or 4.78 dlrs a\nshare compared to a 1985 loss of 581 mln dlrs or 2.78 dlrs were\nunchanged from the company\'s preliminary earnings report made\non Jan 28. The earnings results for the fourth quarter were\nalso unchanged.\n    Included in the 1986 numbers are a 564 mln dlr gain from\nsale of the different businesses, a 270 mln dlr pension credit\nand a charge of 473 mln dlrs from the purchase of long term\ndebt at a premium under the recapitalization.\n    In the audited results released today, the company broke\ndown results by business segment.\n    Operating profit in the fourth quarter for all of the\ncompany\'s operations on a consolidated basis, before corporate\nand interest expense and taxes, was 181 mln dlrs against a loss\nof three mln dlrs in the 1985 quarter.\n    In the year, operating profit was 791 mln dlrs compared to\na loss of 253 mln dlrs in 1985.\n    In a statement, the company said it defeated a hostile\ntakeover attempt, by GAF Corp &lt;GAF>, and recapitalized the\ncompany, adding, \"While all this was going on, our continuing\nbusinesses performed very soundly, with substantial operating\nprofit improvement over 1985.\"\n    Carbon products posted operating profit of eight mln dlrs\nin the quarter, down from 29 mln dlrs, and 49 mln dlrs in the\nyear against a loss of 146 mln dlrs.\n    Chemicals and plastics had fourth quarter operating profit\nof 122 mln dlrs compared to a year-ago loss of 49 mln dlrs. In\nthe year, chemicals and plastics earned 472 mln dlrs against\nlosses of 142 mln dlrs in 1985.\n    Operating income at industrial gases rose to 64 mln dlrs\nfrom 55 mln in the quarter and to 276 mln dlrs from 222 mln in\nthe year.\n    The company\'s specialties and services segment cut its\nlosses in the quarter to 13 mln dlrs from 40 mln dlrs and in\nthe year to three mln dlrs from 181 mln dlrs.\n    Eliminations of business conducted between the company\'s\nindustry segments contributed two mln dlrs to fourth quarter\n1985 profits but did not affect the 1986 quarter. The\neliminations caused losses of three mln dlrs compared to six\nmln dlrs in the year.\n    The 1985 operating results include a host of unusual\nwriteoffs and depreciation charges totaling 134 mln dlrs in the\nquarter and 906 mln dlrs in the year.\n    Capital expenditures rose to 524 mln dlrs in 1986 from 501\nmln dlrs.\n    By segment, spending at carbon products fell to 42 mln dlrs\nfrom 57 mln dlrs and spending fell at specialties and services\nto 126 mln dlrs from 143 mln dlrs.\n    At chemicals and plastics, expenditures rose to 147 mln\ndlrs from 133 mln and at industrial gases they rose to 209 mln\ndlrs from 168 mln dlrs.\n    The company\'s cash and equivalents fell to 299 mln dlrs at\nyear end from 430 mln dlrs at year end 1985, after a net\ndecrease of 131 mln dlrs during 1986.\n    Current assets at year-end fell to 2.41 billion dlrs from\n4.43 billion dlrs and current liabilities fell to 1.88 billion\ndlrs from 2.38 billion.\n Reuter\n&#3;',0
'FIRST COMMERCIAL BANCORP &lt;FCOB> 4TH QTR LOSS Shr loss 49 cts vs loss 1.36 dlrs\n    Net loss 928,835 vs loss 1,648,665\n    Year\n    Shr loss 33 cts vs loss 4.21 dlrs\n    Net loss 593,533 vs loss 4,970,951\n    Assets 203.9 mln\n    Loans 151.5 mln\n    Deposits 192.0 mln\n    Note: 1986 loss included non-recurring expenses of\n1,275,000 dlrs comprised of asset write-downs, legal proceeding\nand a 930,000-dlr provision for loan losses.\n Reuter\n&#3;',0
'HARCOURT BRACE JOVANOVICH INC &lt;HBJ> 4TH QTR NET Shr 23 cts vs 28 cts\n    Net 8,877,000 vs 9,530,000\n    Revs 342 mln vs 278.9 mln\n    Avg shrs 39.4 mln vs 34 mln\n    Year\n    Shr 1.91 dlrs vs 1.62 dlrs\n    Net 70.5 mln vs 50.5 mln\n    Revs 1.3 billion vs 990.5 mln\n    Avg shrs 37 mln vs 31.3 mln\n    NOTE: On Dec one, 1986, company acquired Holt, Rinehart and\nWinston and W.B. Saunders and The Dryden Press and their\nforeign subsidiaries. By including these companies for the\nsingle month of December 1986, 4th qtr earnings were raised by\nseven cts per shr and for the year by eight cts per shr.\n Reuter\n&#3;',0
'LONE STAR&lt;LCE> AGREES TO BUY CONCRETE OPERATIONS Lone Star Industries Inc said\nit has agreed to acquire ready-mixed concrete and aggregates\nbusinesses from &lt;Riedel International Inc> of Portland, Ore.,\nfor an undisclosed amount of cash.\n    Lone Star\'s one sentence statement gave no further details\nand company spokesmen were not available.\n Reuter\n&#3;',0
'SHELL FRANCAISE RETURNS TO PROFIT IN 1986 Shell Francaise &lt;SFMF.PA>, a subsidiary of\n&lt;Shell Petroleum NV>, returned to the black last year for the\nfirst time since 1982, with parent company net profit of 43 mln\nfrancs against losses of 968 mln in 1985 and 1.07 billion in\n1984. In 1982 it posted a profit of 329 mln.\n    The company said in a statement that cash flow had improved\nstrongly although it remained negative at 182 mln francs\nagainst 1.34 billion in 1985, due largely to improved\nperformances by its main profit centres.\n    It said the results could have been even better had it not\nbeen for the collapse of refining and sales profit margins in\nthe last quarter of the year.\n    In 1986 Shell sold 14.74 mln tonnes of oil products against\n14.52 mln tonnes in 1985.\n    The company said the results were in line with its targets\nfor the second year of its three-year recovery programme.\n    Meanwhile, &lt;Societe Shell Chimie) said it also returned to\nprofit in 1986, for the first time since 1976, posting net\nprofit of 160 mln francs against a 1985 loss of 57 mln. No\nother details were available.\n Reuter\n&#3;',0
'BRAZIL SUSPENDS IMPORT OF 500,000 TONNES MAIZE Brazil has suspended the importation\nof 500,000 tonnes of maize ordered last year because of the\nexcellent domestic maize harvest expected this year,\nAgriculture Minister Iris Resende said.\n    The Agriculture Ministry expects a record maize crop of\n27.7 mln tonnes, a 36 pct increase on last year\'s crop of 20.3\nmln tonnes.\n    Brazil\'s total grain crop is expected to be 65.3 mln\ntonnes. \"This is a record in the history of Brazilian\nagriculture,\" a ministry spokesman said.\n    Resende announced suspension of the maize imports at a news\nconference in Brasilia yesterday.\n    The ministry spokesman said he had no other details on the\nmaize transaction.\n Reuter\n&#3;',1
'FAIRMOUNT CHEMICAL CO INC &lt;FMTC> 4TH QTR LOSS Shr loss 28 cts vs loss 29 cts\n    Net loss 584,100 vs loss 459,500\n    Sales 1,339,800 vs 1,6390,800\n    Year\n    Shr loss 64 cts vs loss 79 cts\n    Net loss 1,314,700 vs loss 1,237,100\n    Sales 7,249,600 vs 6,311,500\n Reuter\n&#3;',0
'HUMANA INC &lt;HUM> REGULAR DIVIDEND Qtly div 19 cts vs 19 cts in prior qtr\n    Payable May one\n    Record April two\n Reuter\n&#3;',0
'U.S. COMMERCIAL PAPER FALLS 1.27 BILLION DLRS IN FEB 25 WEEK, FED SAYS\n ',0
'N.Y. BUSINESS LOANS RISE 523 MLN DLRS IN FEB 25 WEEK, FED SAYS\n ',0
'FINANCIAL CORP &lt;FIN> UNIT BUYS BRANCHES Financial Corporation of\nAmerica\'s American Savings and Loan Association unit said it\nsigned a definitive agreement to buy three retail savings\nbranches from Gibraltar Financial Corp\'s &lt;GFC> Gibraltar\nSavings unit.\n    The purchase, which must be approved by the Federal Home\nLoan Bank and the California Department of Savings and Loans,\nwould increase American Savings\' deposits by about 40 mln dlrs.\n    The branches are in La Jolla, La Mesa and San Juan\nCapistrano, Calif.\n Reuter\n&#3;',0
'PORK DELEGATES VOTE ON FARM BILL, FARM CREDIT Delegates from the National Pork\nProducers Council, NPPC, attending the American Pork Congress\nin Indianapolis, voted overwhelmingly to recommend the U.S.\ncongress not to change the farm bill. While there are no\nspecific pork items in that legislation, feed grain prices\ndirectly affect pork producer profits, the NPPC said.\n    Don Gingerich, a delegate from Iowa, said \"to have\nunpredictable changes come along periodically makes it very\ndifficult to plan and causes a lot of disruption.\"\n    Other members said the farm bill has some imperfections but\nthat\'s a price pork producers are willing to pay for\nlegislative stability, an NPPC spokesman said.\n    Delegates also passed unanimously a resolution that\nCongress and the administration should act swiftly to identify\nproblems in the farm credit system.\n    Farm Credit Task Force chairman and newly elected Vice\nPresident of the NPPC Ray Hankes, said delegates wanted a\nprogram that all commodity groups can work with and bring a \nresolution to this problem with legislators in Washington.\n    Hankes added that the National Pork Producers Council will\nwork to save farmers and keep credit available, but not to save\nor create any one credit system.\n\n Reuter\n&#3;',0
'CONFIDENCE IN OPEC FIRMS U.S. ENERGY FUTURES Renewed confidence in OPEC\'s ability to\nlimit production helped U.S. energy futures settle above\nyesterday\'s closing prices, according to analysts.\n    They also said the heating oil contract found additional\nsupport from a short-covering rally on the close.\n    April crude closed 24 cts higher to 17.75 dlrs. April\nheating oil was 1.47 cts higher to 47.91 cts a gallon.\n    \"Most traders expected follow through profit-taking from\nyesterday but the market found suport from bullish reports that\nOPEC is producing within its quota,\" said Simon Greenshields, a\nvice president with Morgan Stanley and Co Inc.\n    News today, including OPEC President Rilwanu Lukman\nstatement that OPEC February production did not exceed its\nofficial quota of 15.8 mln barrels per day, helped bouy prices,\ntraders said. A Reuter survey found OPEC production in early\nMarch was 14.7 mln bpd.\n    In addition to short-covering, heating oil found support\nfrom traders buying it against sales of gasoline and crude, as\nwell as from expectations for continued drawdowns in stocks as\nrefiners shut down for maintenance, traders said.\n    Unleaded gasoline for April finished 0.55 cent higher to\n51.24 cts a gallon.\n Reuter\n&#3;',0
'TREASURY SAYS ONLY REAGAN, BAKER SPEAK ON DLR The U.S. Treasury repeated a White\nHouse statement that only President Reagan and Treasury\nSecretary James Baker are authorized to speak on the dollar.\n    A Department spokesman was commenting on remarks by\nCommerce Department Under-Secretary Robert Ortner that the yen\nwas undervalued 10 or 15 pct against the dollar but European\ncurrencies were fairly priced against the U.S. currency.\n    \"As Larry Speakes said on January 14 this year, only two\npeople in this administration are authorized to speak on the\ndollar and that is the president and the secretary of the\ntreasury,\" the spokesman told Reuters.\n reuter\n&#3;',0
'USDA COMMENTS ON EXPORT SALES  Corn sales gained 2,494,900 tonnes in\nthe week ended February 26, the highest weekly total since\nAugust 1984 and two and three-quarter times the prior week\'s\nlevel, the U.S. Agriculture Department said.\n    In comments on its Export Sales Report, the department said\nsales of 1.0 mln tonnes to the USSR -- previously reported\nunder the daily reporting system -- were the first sales for\ndelivery to the USSR under the fourth year of the U.S.-USSR\nGrains Supply Agreement, which began October 1.\n    Japan added 689,700 tonnes to previous purchases and sales\nto unknown destinations rose by 429,800 tonnes.\n    Wheat sales of 362,400 tonnes for the current season and\n151,000 for the 1987/88 season were down by more than half from\nthe previous week\'s combined sales, it said.\n    Egypt, Japan and Iraq were the major wheat buyers for\ndelivery in the current year, while sales to China decreased by\n30,000 tonnes for the current season, but increased by 90,000\ntonnes for the 1987/88 season, which begins June 1.\n    Net sales of soybeans totalling 274,200 tonnes equaled the\npreceding week, but were nearly a third below the four week\naverage. Major increases were for Belgium, South Korea, Mexico\nand Italy, it said.\n    Soybean cake and meal sales of 103,700 tonnes were 2-3/4\ntimes the previous week\'s marketing year low, but six pct less\nthan the four week average.\n    Major increases for West Germany, Belgium, Spain, Italy and\nAustralia were partially offset by declines to unknown\ndestinations.\n    Soybean oil sales of 5,400 tonnes were the result of\nincreases for Venezuela and reductions of 500 tonnes for\nunknown destinations.\n    Combined sales activity in cotton of 75,200 running bales\n-- 44,700 bales for the current year and 30,500 bales for the\n1987/88  bales -- were 56 pct below the prior week\'s good\nshowing, the department said.\n    Major purchasers for the current season were South Korea,\nJapan, Taiwan and Thailand, while South Korea and Indonesia\nwere the major buyers for the 1987/88 season, which begins\nAugust 1.\n   \n Reuter\n&#3;',1
'FAIRFIELD COMMUNITIES INC &lt;FCI> 10 MOS DEC 31 Shr loss 1.62 dlrs vs profit 83 cts\n    Net loss 17.2 mln vs profit 8.3 mln\n    Revs 264.0 mln vs 338.0 mln\n    NOTE:Year ago figures based on 12 months ended February 28,\n1986 because company changed reporting period to end December\n31.\n   1986 10 months loss includes 10.3 mln dlrs writedown of\ncertain assets.\n                        \n Reuter\n&#3;',0
'CARVER CORP &lt;CAVR> 4TH QTR NET Shr 20 cts vs 17 cts\n    Net 680,000 vs 533,000\n    Sales 6,473,000 vs 5,996,000\n    Year\n    Shr 57 cts vs 84 cts\n    Net 1,967,000 vs 2,099,000\n    Sales 20.8 mln vs 19.0 mln\n Reuter\n&#3;',0
'INTER-CITY GAS CORP 4TH QTR SHR 36 CTS VS 68 CTS\n ',0
'UNICORP &lt;UAC>, LINCOLN IN DEFINITVE PACT Unicorp American Corp said it signed a\ndefinitive agreement to acquire Lincoln Savings Bank FSB.\n    Under terms of the agreement announced in January, Lincoln\nwould be acquired by a unit of Unicorp which is minority-owned\nby Lincoln president Alton Marshall.\n    The acquisition will take place through a voluntary \nconversion of Lincoln to a federally chartered stock savings\nbank from a mutual federal savings bank.\n    In connection with the conversion, Unicorp will contribute\n150 mln dlrs in cash to Lincoln.\n Reuter\n&#3;',0
'U.S. M-1 MONEY SUPPLY RISES 1.9 BILLION DLRS IN FEB 23 WEEK, FED SAYS\n ',0
'U.S. BANK DISCOUNT BORROWINGS AVERAGE 233 MLN DLRS A DAY IN MARCH 4 WEEK, FED SAYS\n ',0
'COFFEE FALL NOT SEEN AFFECTING COLOMBIA\'S DEBT The sharp fall in international coffee\nprices will not affect Colombia\'s external credit situation,\nfinance minister Cesar Gaviria told reuters.\n    He said the current depression on world coffee markets was\nnot totally unexpected and would have no immediate bearing on\nColombia\'s financial state which he described as sound.\n    \"Our foreign debt is high, but we can pay and I hope the\nforeign banking community will maintain its position toward us,\"\nhe said.\n    Colombia, the only major latin american country not to have\nrescheduled its external public debt, has a total foreign debt\nof 13.6 billion dlrs.\n    Calls for a rescheduling of the debt have come this week\nfrom the opposition conservative party and the biggest trade\nunion following the coffee price drop. Gaviria said lower\ncoffee prices this year could mean a loss of 1.5 billion dlrs\nin revenues for 1987.\n    Gaviria submitted to the world bank and the inter-american\nbank last week in new york a borrowing plan, for a total of\n3.054 billion dlrs to be disbursed over the next four years,\nwhich he said was approved.\n Reuter\n&#3;',0
'U.S. M-1 MONEY SUPPLY RISES 1.9 BILLION DLRS U.S. M-1 money supply rose 1.9 billion\ndlrs to a seasonally adjusted 738.5 billion dlrs in the\nFebruary 23 week, the Federal Reserve said.\n    The previous week\'s M-1 level was revised to 736.6 billion\ndlrs from 736.7 billion dlrs, while the four-week moving\naverage of M-1 rose to 736.7 billion dlrs from 735.0 billion.\n    Economists polled by Reuters had forecast M-1 in a range\nfrom down 500 mln dlrs to up 4.5 billion dlrs.\n    The average forecast called for a 2.2 billion dlr M-1 rise.\n Reuter\n&#3;',0
'HUMANA &lt;HUM> DECLARES SHAREHOLDERS RIGHTS PLAN Humana Inc said its board\napproved a shareholder rights plan, or so-called poison pill\nplan, to ensure its shareholders receive fair treatment in the\nevent of a proposed takeover.\n    Humana said it is now aware of any effort to gain control\nof the company.\n    Under the plan its board declared a dividend distribution\nof one right for each outstanding common share held as of March\n16. It said each right entitles holders to purchase a unit of\n1/100 of a share of newly authorizes series A participating\npreferred at 75 dlrs per unit.\n    Humana said the rights become effective after an entity\nacquires 20 pct or more of its outstanding common or tenders\nfor 30 pct of its stock. After such an acquisition, then each\nright entitles holders to purchase securities of the company or\nan acquiring entity having a market value of twice the right\'s\nexercise price.\n    Humana said the rights expire March 4, 1997, unless\nredeemed earlier. It said the rights may be redeemed by the\ncompany for one ct per right at any time prior to 10 days\nfollowing a public announcement that a 20 pct position has been\nacquired.\n Reuter\n&#3;',0
'FREMONT GENERAL CORP &lt;FRMI> 4TH QTR OPER NET Oper shr profit 63 cts vs loss 1.15 dlrs\n    Oper net profit 6,629,000 vs loss 12.4 mln\n    Revs 23.6 mln vs 22.4 mln\n    Year\n    Oper shr profit 1.65 dlrs vs loss 1.28 dlrs\n    Oper net profit 17.5 mln vs loss 13.8 mln\n    Revs 93.1 mln vs 86.8 mln\n    Note: Oper data does not include loss from discontinued\noperations of 7,932,000 dlrs, or 73 cts per shr in 4th qtr\n1985, loss of 40.5 mln dlrs, or 3.83 dlrs per shr in the 1986\nyear or gain of 104.3 mln dlrs, or 9.68 dlrs per shr in 1985.\nAlso does not include 4th qtr 1985 extraordinary loss of\n1,028,000 dlrs, or ten cts per shr.\n Reuter\n&#3;',0
'GREAT WESTERN FINANCIAL &lt;GWF> UNIT BUYS BANKS Great Western Financial\nCorp\'s subsidiary Great Western Bank said it will purchase\nthree retail banking branches in south Florida with total\ndeposits of 90 mln dlrs.\n    Great Western said it will purchase branches in Deerfield\nBeach and Hollywood with approximately 80 mln dlrs in deposits\nfrom Guardian Savings and Loan Association, and one in Palm\nBeach with approximately 10 mln in deposits from Goldome\nSavings Bank.\n Reuter\n&#3;',0
'HUGHES &lt;HT> CHANGES STANCE ON MERGER AFTER SUIT A one billion dlr lawsuit pushed\nHughes Tool Co into an about-face on its rejection of a\nproposed merger with Baker International Corp &lt;BKO>, Wall\nStreet analysts said.\n    Last night, Hughes said the planned merger with Baker was\noff. Baker then filed a suit seeking punitive damages from\nHughes for calling off the merger. At midday today Hughes said\nit was still interested in the merger.\n    The analysts also said Hughes may be worried that its\ntroubles could make it a takeover candidate.\n    There was speculation today that Harold Simmons, the Dallas\ninvestor, might try to acquire Hughes, but Simmons told Reuters\nhe is not interested.\n    Simmons said he intends to file a 13-D with the Securities\nand Exchange Monday reporting a stake of five pct or more in\nsome publicly traded company. He declined to identify the\ntarget other than to rule out Hughes.\n    One analyst said another factor in the latest Hughes\nturnabout was Borg-Warner Corp &lt;BOR>, which owns 18.5 pct of\nHughes. Borg-Warner ex-chairman J.F. Bere, who serves on the\nHughes board, is believed to favor the merger with Baker.\n    Despite the Hughes statement that it is interested in a\nmerger, and Baker\'s response that a merger is still possibile,\nanalysts said no one could be certain where the situation was\ngoing.\n    \"I think the merger is not going through,\" said Phil Pace,\nanalyst at Kidder, Peabody and Co. He said the merger \"lost a\nlot of its appeal\" when the U.S. Department of Justice required\nthat Baker sell off its Reed Tool Co operation.\n    Although the Reed operation is relatively small in view of\nthe total size of a combined Baker-Hughes, Pace said \"30 to 40\npct of the cost savings are tied up in that.\"\n    \"They (Hughes) are obviously concerned about the lawsuit,\"\nsaid James Crandell, analyst at Salomon Brothers Inc.\n\"Apparently they are willing to continue discussions but\nwhether they will alter their position, I don\'t know.\n    \"It\'s getting a little confusing,\" said James Carroll,\nanalyst at PaineWebber Group Inc. He said the arguments cited\nby Hughes yesterday for not doing the merger \"tend to be weak.\"\nHughes said yesterday that as a condition of the merger it\nwanted Reed Tool and other businesses sold prior to April 22,\nthe projected merger date. A government decree allowed a longer\nperiod of time.\n    Hughes contended it was better to formally combine the\ncompanies with the status of Reed already settled. Baker\napparently sees no reason to speed up the sale.\n    Carroll said Baker had previously estimated 110 to 130 mln\ndlrs in savings if the companies were combined without selling\nReed. But he said Baker now thinks 75 to 85 mln dlrs will be\nsaved while Hughes sees a saving of only 50 to 60 mln dlrs.\n    Carroll also noted that since the merger accord was first\nsigned \"the outlook for the industry has improved materially.\"\nHughes may simply feel the pressure on the oil service industry\nis lifting.\n Reuter\n&#3;',0
'ARMTEK &lt;ARM> SELLS TIRE, TRUCK TIRE BUSINESS Armtek Corp, formerly known as\nArmstrong Rubber Co, said it signed agreements with &lt;Condere\nCorp> for the sale of its Natchez, Miss. tire plant and its S\nand A Truck Tire Sales and Services Corp.\n    Terms were not disclosed. Armtek spokesman John Sievers\nsaid S and A is a 50 mln dlr business.\n    Earlier this week, Armtek announced the sale of its\nindustrial tire and assembly business division to Dyneer Corp\nof Scotsdale, Ariz.\n    Cash proceeds from both sales will be used to reduce\noutstanding debt.\n     Under a long term supply agreement with Condere, it is\nanticipated that truck tires produced at the Natchez plant will\nbe supplied to the Armstrong Tire Co, an Armtek operating\ncompany, the company said.\n    The closing is scheduled to be concluded by March 31, it\nsaid.\n Reuter\n&#3;',0
'ELXSI LTD &lt;ELXSF> 4TH QTR LOSS Shr loss four cts vs loss 34 cts\n    Net loss 2,922,000 vs loss 19.9 mln\n    Revs 4,071,000 vs 8,012,000\n    Year\n    Shr loss 23 cts vs loss 79 cts\n    Net loss 17.3 mln vs loss 46.2 mln\n    Revs 22.4 mln vs 28.6 mln\n Reuter\n&#3;',0
'&lt;NEWSCOPE RESOURCES LTD> YEAR LOSS Shr loss 94 cts vs profit 28 cts\n    Net loss 6,319,337 vs profit 1,702,016\n    Revs 2,899,513 vs 5,239,106\n    Note: 1986 net includes 5,250,000 dlr writedown of oil and\ngas properties.\n Reuter\n&#3;',0
'FERC ISSUES TAKE-OR-PAY GAS POLICY PLAN The Federal Energy Regulatory\nCommission (FERC) issued a proposed policy statement for the \nrecovery of take-or-pay costs imposed by existing natural gas\ncontracts between producers and pipelines.\n    It put out the statement, by 5-0 vote, for a 30-day comment\nperiod. It also put out an alternative policy statement by\nCommissioner Charles Stalon.\n    FERC said in a press release that \"the proposed policy\nstatement estblishes an exception to the commission\'s general\npolicy that take-or-pay buy-out and buy-down costs must be\nrecovered through pipeline\' commodity sales rates.\"\n    FERC added that \"specifically, in cases where pipelines\nassume an equitable share of buy-out or buy-down costs, the\ncommission proposes to permit the pipelines to recover the\nremaining costs through their demand rates.\"\n    It said it wanted guidelines for buying out and reforming\nexisting contracts to help spread the impact of these\ntake-or-pay costs in a responsible, fair and equitable way.\n    Commission chairwoman Martha Hesse said \"this proposal\nrepresents the commission\'s sincere attempt to help the\nindustry through this difficult period of transition to a more\ncompetitive market.\"\n    Hesse said \"it is my hope that our proposed policy will\nencourage and guide the timely resolution of take-or-pay\ncontractual disputes that have impeded the industry\'s\ntransition to a more competitive environment.  It is vital to\nthe industry that we get this problem behind us.\"\n reuter\n&#3;',0
'TIMES MIRROR CO &lt;TMC> QUARTERLY DIVIDEND Qtly div 41 cts vs 41 cts\n    Pay June 10\n    Record May 29\n Reuter\n&#3;',0
'INTER-CITY GAS CORP &lt;ICG> 4TH QTR NET Shr 36 cts vs 68 cts\n    Net 10.0 mln vs 16.1 mln\n    Revs 441.6 mln vs 470.8 mln\n    YEAR\n    Shr 86 cts vs 1.77 dlrs\n    Net 29.1 mln vs 44.1 mln\n    Revs 1.43 billion vs 1.54 billion\n    Note: 1986 fl-yr net includes 9.3 mln dlr writedown of U.S.\noil and gas properties partly offset by 1.1 mln dlr\nextraordinary gain from tax gains and proceeds from sale of\nMinnesota utility operations. 1985 net includes extraordinary\ngain of 892,000 dlrs.\n    Shr after preferred divs.\n Reuter\n&#3;',0
'BROWN TRANSPORT CO INC &lt;BTCI> 4TH QTR NET Shr profit 26 cts vs profit 10 cts\n    Net profit 1,371,000 vs profit 482,000\n    Revs 48 mln vs 45.7 mln\n    Avg shrs 5.20 mln vs 5.15 mln\n    12 mths\n    Shr profit 1.05 dlrs vs loss 34 cts\n    Net profit 5,454,000 vs loss 1,766,000\n    Revs 191.7 mln vs 185.2 mln\n    Avg shrs 5.20 mln vs 5.15 mln\n Reuter\n&#3;',0
'METRO MOBILE CTS INC &lt;MMCT> FIRST QTR LOSS Qtr ends Dec 31\n    Shr loss 33 cts vs loss 16 cts\n    Net loss 5,632,426 vs loss 2,373,358\n    Revs 3,277,976 vs 1,535,550\n    Avg shrs 16.9 mln vs 14.4 mln\n Reuter\n&#3;',0
'&lt;SPAR AEROSPACE LTD> YEAR NET Shr basic 42 cts vs 1.41 dlrs\n    Shr diluted 42 cts vs 1.33 dlrs\n    Net 4,394,000 vs 13,070,000\n    Revs 191.0 mln vs 223.3 mln\n Reuter\n&#3;',0
'PESCH UNIT SEEKS BALANCE OF REPUBLIC HEALTH Alpha Health Systems Corp, a\nwholly-owned subsidiary of Pesch and Co, said it submitted a\nmerger proposal to the board of REPH Acquisition Co, the parent\ncompany of Republic Health Corp, which is 64 pct owned by Pesch\ninterests.\n    The balance of REPH\'s common stock is owned by members of\nRepublic management, McDonnell Douglas Corp &lt;MD>, Donaldson,\nLufkin and Jenrette and Pacific Asset Holdings L.P.\n    Republic currently owns 44 hospitals and manages 46 other\nfacilities, in 25 states.\n    Details of the proposal were not disclosed.  Company\nrepresentatives were not immediately available.\n    The proposal provides that REPH would become a wholly-owned\nsubsidiary of Alpha and that the existing REPH common\nstockholders would become stockholders of Alpha, it said.\n    REPH\'s board has appointed a special committee to negotiate\nterms of the proposed merger, Pesch said.\n    Last year, Republic was acquired by REPH in a leveraged\nbuyout transaction led by Dr. LeRoy Pesch, the principal\nshareholder of Pesch and Co.\n    Alpha recently submitted a second offer to acquire the\nstock of American Medical International Inc (AMI) at 22 dlrs a\nshare in cash and securities, which is still being considered\nby American Medical\'s board, Pesch said.\n Reuter\n&#3;',0
'SPAR SEES SEES STRONG FIVE-YEAR GROWTH &lt;Spar Aerospace Ltd>, reporting a\nsharply lower 1986 profit, said it anticipated solid profit and\nrevenue growth during the next five years.\n    \"Looking to the longer term, Spar is confident that its\ncontinuing concentration on advanced robotics, satellite-based\ncommunications and electro-optical defense systems will lead to\nsignificant growth in revenues and earnings over the next five\nyears,\" the company said.\n    It also forecast higher 1987 sales due to an increased\norder backlog. Revenues last year fell to 191 mln dlrs from\n223.3 mln while profit fell to 4.4 mln dlrs from 13.1 mln.\n    Spar added that lower development costs in the\ncommunications group and a return to normal operations in gears\nand transmissions and aviation services \"will remove a serious\ndrain on profits\" this year.\n    It attributed its reduced 1986 earnings to communications\ngroup losses resulting from continued heavy investment in new\nproducts and market development, a four-month strike at its\nToronto plants and delays in receipt of authorization from\ncustomers to start work on new programs.\n Reuter\n&#3;',0
'CHESAPEAKE UTILITIES CORP &lt;CHPK> REGULAR DIV Qtly div 28-3/4 cts vs 28-3/4 cts prior\n    Pay April three\n    Record March 13\n Reuter\n&#3;',0
'MEATPACKERS REJECT OCCIDENTAL &lt;OXY> UNIT OFFER United Food and Commercial Workers Union\nLocal 222 rejected a new contract proposal from Iowa Beef\nProcessors Inc and remain out of work, union spokesman Allen\nZack said.\n    In mid-December, Iowa Beef, a subsidiary of Occidental\nPetroleum Corp, closed its beef processing plant at Dakota\nCity, Nebraska, because it said \"it had no alternative to\nthreats by meatpackers to disrupt operations.\"\n    About 2,800 UFCWU members are affected by what the union\nterms as a lockout.  A 3-1/2 year labor contract at the plant\nexpired December 13.\n    Zack said IBP\'s proposal included elimination of a two-tier\nwage structure, a 60 cent an hour wage cut for slaughterers and\na 45 cent an hour wage reduction for processors.\n    The new proposal also included a bonus system of 1,000 dlrs\nfor workers who had been at the plant for two years, Zack said.\nThe annual turnover rate at the facility is 100 pct, he said.\n Reuter\n&#3;',0
'SWIFT INDEPENDENT PACKING CO &lt;SFTPr> 1ST QTR NET Periods ended January 31\n    Net 1,443,000 vs 3,539,000\n    Revs 765.2 mln vs 685.8 mln\n Reuter\n&#3;',0
'CHEMLAWN SAYS IT REJECTS 27 DLRS PER SHARE TENDER OFFER FROM WASTE MANAGEMENT\n ',0
'FRANCE, YUGOSLAVIA COMMISSION TO BOOST TRADE France and Yugoslavia agreed to set up a\njoint economic commission as part of efforts to promote\ncommercial links and industrial cooperation between the two\ncountries.\n    The French Finance Ministry said the commission, to be\ncomposed of businessmen, was agreed during talks between\nForeign Trade Minister Michel Noir and Yugoslavian minister\nwithout portfolio Egon Padovan.\n    A ministry statement said both sides had agreed on the need\nto boost trade links in keeping with an accord signed last year\ncalling for a 50 pct rise in commercial exchanges between the\ntwo countries over the next six years.\n    French trade with Yugoslavia has grown little over the past\ntwo years.\n Reuter\n&#3;',0
'CHEMLAWN &lt;CHEM> REJECTS WASTE\'S &lt;WMX> OFFER ChemLawn Corp said its board\nrejected Waste Management Inc\'s 27 dlr-per-share tender offer\nand urged its shareholders not to tender their shares.\n    ChemLawn said its board asked management and its financial\nadvisor, Smith Barney, Harris Upham And Co Inc, to seek other\npurchasers of the company to maximize shareholder value.\n    ChemLawn also said it adopted a shareholder rights plan, or\n\"poison pill,\" during a 120-intermin safeguard period its board\nadopted to deter attempts to acquire the company through any\nmeans other than an all-cash tender offer while it seeks other\npurchasers.\n    ChemLawn also said it began litigation against Waste\nManagement in federal court in Columbus, seeking injunctive and\nother relief.\n    The suit alleges, among other things, that certain Waste\nManagement officers and directors purchased ChemLawn\'s stock\nbefore making the tender offer. ChemLawn claimed such purchases\npossibly violated the officers\' fiduciary duties and the\nSecurities and Exchange Commission\'s insider trading rules.\n    Last week, Waste Management made a tender offer to acquire\nChemLawn for 27 dlrs per share or 270 mln dlrs.\n    ChemLawn said its board was determined that Waste\'s offer\nwas inadequate and not in the best interest of shareholders,\nand could \"adversely affect\" the interests of its employees,\nsuppliers, creditors, and customers.\n    \"Our board carefully reviewed Waste Management offer and\nconcluded that it does not fully reflect the value of the\ncompany. We strongly urge our shareholders not to tender their\nshares to Waste Management,\" said Chairman L. Jack Van Fossen.\n    ChemLawn said its rights plan is designed to protect\nshareholders against abusive tactics, such as \"market\naccumulations by Waste Management or others.\"\n    Under the plan, one comon stock purchase right will be\ndistributed as a dividend on each outstanding share of ChemLawn\ncommon.\n    ChemLawn said its rights holders can buy a share of its\ncommon for one dlr if any entity acquires 25 pct or more of its\ncommmon, other than by an all cash tender offer for all its\nshares or an approved acquisition agreement by its board.\n    It said the rights expire July three 1987, or 60 days after\nthey become exercisable if later than that date. It said its\nboard may redeem the rights for five cts per right any time\nprior to their exercise date.\n    ChemLawn said the plan will not be triggered by purchases\npurusant to Waste Management\'s present tender offer.\n    It said the dividend will be paid to shareholders of record\nMarch 20.\n Reuter\n&#3;',0
'(CAMBIOR INC) FIVE MTHS DEC 31 NET Shr 39 cts vs not given\n    Net 8,801,000 vs not given\n    Revs 33.2 mln vs not given\n Reuter\n&#3;',0
'CONAGRA &lt;CAG> TO ACQUIRE MONFORT &lt;MMFT> ConAgra Inc agreed to acquire\nMonfort of Colorado Inc in a stock transaction, both companies\nsaid.\n    According to the letter of intent signed by the companies,\nConAgra will acquire all of Monfort\'s 4.3 mln outstanding\nshares for 10.75 mln of its own shares.\n    Based on ConAgra\'s closing price of 34 dlrs today, the\ntransaction is worth about 356.5 mln dlrs. The merger is\nexpected to be completed in June, they said.\n    The companies said the acquisition will result in a\nrestatement of ConAgra\'s earnings for the fiscal year ending\nMay 31, but the restatement is not expected to materially\nchange the previously reported, or upcoming, fiscal year-end\nearnings. In fiscal 1986, ConAgra had net income of 105.3 mln\ndlrs on sales of 5.9 billion dlrs.\n    For its fiscal year ending August 1986, Monfort reported\n25.1 mln dlrs in earnings on sales of 1.6 billion dlrs. The\ncompany is one of the largest lamb and beef producers in the\nU.S., producing, transporting and selling the products\ndomestically and internationally.\n Reuter\n&#3;',0
'HOUSE 0/92 PLAN SEEN SCALED-BACK TO 1987 WHEAT Key members of the House Agriculture\ncommittee have agreed to scale-back the 0/92 provision of a\npending disaster aid bill to cover only 1987 crop wheat, but a\nbroader 0/92 proposal is likely to be resurrected later,\nCongressional sources said.\n    The sources said key lawmakers including Reps. Glenn\nEnglish (D-Okla.), and Dan Glickman (D-Kan.) agreed to support\nan amendment to be offered next week by Rep. Charles Stenholm\n(D-Tex.) which would limit 0/92 only to producers of 1987 crop\nwinter and spring wheat.\n    This would scale-back the 0/92 provision to the original\nproposal by English allowing a pilot 0/92 program for 1987\nwheat only. That provision was later broadened by the\nsubcommittee to include 1988 crop winter wheat.\n    Under 0/92, a farmer can forego planting a crop but still\ncollect 92 pct of deficiency payments.\n    Earlier today, the House Agriculture committee postponed\nuntil next Tuesday a meeting to consider the disaster aid bill\nand 0/92.\n    The agreement to limit 0/92 to a wheat pilot program\nfollows vocal criticism of the proposal by some influential\nfarm groups who are concerned about the major impact of 0/92,\nand by members of Congress wary of reopening the farm bill.\n    Congressional sources said there has not been enough time\nto study the implications of a broad 0/92.\n    \"The timing (of the proposal) is off,\" said one aide to a\nHouse Agriculture committee member.\n    However, several Congressional sources said they expect a\nbroader 0/92 provision to emerge again when the House\nAgriculture committee is faced next month with the need to make\nspending cuts in the agriculture budget for fiscal 1988 as part\nof an overall deficit reduction package.\n    Gene Moos, aide to House Majority leader Tom Foley\n(D-Wash.), predicted agriculture\'s share of budget cuts may\nexceed one billion dlrs.\n    A broader 0/92 might be resurrected later because both the\nCongressional Budget Office and the Reagan administration\nestimate it would result in significant budget savings.\n    A U.S. Agriculture Department official said 0/92 for all\n1987 crops would save 300 to 400 mln dlrs and more than 1.5\nbillion dlrs over five years.\n    Another factor which could affect the 0/92 debate is the\napproach of planting season, Congressional sources said.\n    Some officials said it already is late for implementation\nof a 0/92 in 1987 because farm program signup ends March 31 for\nwheat and feedgrains.\n    If Congress approved 0/92 later in the year sign-up either\nwould have to be extended or reopened, sources said.\n Reuter\n&#3;',1
'FAVORED TRADE STATUS FOR MOSCOW STILL OPPOSED The Reagan administration wants to\nencourage expanded trade with the Soviet Union but does not\nbelieve Moscow yet warrants most-favored-nation treatment,\nDeputy Secretary of State John Whitehead said.\n    \"It seems to me that more trade between us is better than\nless trade,\" he told a forum on U.S.-Soviet trade relations.\n    To that end, the administration in January allowed foreign\npolicy controls on the export of oil and gas equipment to the\nSoviet Union to lapse, he said.\n    Also, Washington and its allies are reviewing remaining\nexport controls in hopes of simplifying the list of prohibited\nitems and speeding up the licensing process, he said.\n    Whitehead said, however, the prefential treatment that\ncomes with most-favored-nation status is out for the moment.\n    U.S. law prohibits most-favored-nation status for countries\nthat restrict emigration and other rights.\n    \"What we have seen so far (in improved rights under Soviet\nLeader Mikhail Gorbachev) are promising trends,\" he said.\n    But, he added: \"We don\'t know if they will continue, we\ndon\'t know how significant they will be.\"\n Reuter\n&#3;',0
'MCDONNELL DOUGLAS &lt;MD> NOT APPROACHED BY PESCH McDonnell Douglas Corp, which has a five\nmln dlr investment in Republic Health Corp &lt;REPH>, said it has\nnot been approached to sell its shares in Republic Health.\n    Earlier, Alpha Health Systems Corp, a unit of Pesch and Co,\nsaid it submitted a merger proposal to the board of REPH\nAcquisition Co, the parent of Republic Health. LeRoy A. Pesch\nis the principal stockholder of Pesch.\n    \"We have not been approached by Mr. Pesch or anybody else\nwith respect to our holdings\" in Republic Health, a McDonnell\nDouglas spokesman told Reuters.\n Reuter\n&#3;',0
'PARADYNE &lt;PDN> PLEADS GUILTY TO CRIMINAL CHARGE Paradyne Corp said it pleaded guilty\nto criminal charges of conspiracy to defraud the Social\nSecurity Administration and agreed to pay 1.2 mln dlrs in fines\nand costs to the U.S. Government.\n    The company also reached agreements in principle for an 8.1\nmln dlr settlement of class action law suits.\n    About 2.9 mln dlrs of the class action settlement will be\nprovided by Paradyne\'s insurance carrier. The settlement is\ncontingent on court approval after notice to class members, it\nsaid.\n     The criminal case settlement dismisses all charges\nincluding bribery and false statement, except for conspiracy to\nwhich Paradyne pleaded guilty.\n    The criminal settlement includes the lifting of the\ngovernment\'s suspension, the dismissal of the federal civil\nfalse claims suit and all charges against the individuals.\n    Of the 2.9 mln dlrs the insurance carrier will provide for\nthe civil settlement, 750,000 dlrs will go to settle a\nderivative lawsuit.\n    For the year ended December 31, Paradyne reported a net\nloss of 38.5 mln dlrs. The year-end results include an 8.0 mln\ndlrs provision for future legal and or settlement costs to\ncover the civil and criminal settlements announced today.\n    Paradyne also said it named Jerry Kendall as president and\nchief executive officer, succeeding Robert Wiggins who resigned\nas chairman and chief executive officer as part of the\nsettlement of the indictment.\n    Kendall formerly served as executive vice president and\nchief operating officer.\n    The company also said that due to the sluggish marketplace,\nit does not expect to be profitable in the first quarter but is\noptimistic about the outlook for the year.\n    For the first quarter of 1986, the company reported net\nincome of 875,000 dlrs on sales of 66.0 mln dlrs.\n    Wiggins was among five Paradyine executives who were\ncharged along with three former officers in a 1985 federal\nindictment stemming from a 115 mln contract awarded to Paradyne\nin 1981 to build a computer network for the Social Security\nAdministration.\n    The men were accused of conspiring to bribe government\nofficials and defaud the Social Security Administration.\nWiggins and other defendants were also charged with providing\nfalse testimony and obstructing justice during a Securities and\nExchange Commission investigation.\n \n   Under the settlement announced today, federal prosecutors\nagreed to defer all charges against Wiggins and three other\ndefendants under a one-year pretrial agreement.\n    The charges would then be dropped if the defendants\nsuccessfully complete the probation period. Details of the\nrequirements in the agreement were not immediately available.\n          \n Reuter\n&#3;',0
'SOUTH AFRICAN FIRM TO CONTINUE TESTS South Africa\'s state-owned energy\nfirm Soekor said it would continue tests after striking oil\nsome 120 kms (75 miles) south-southwest of Mossel Bay.\n    During production tests, about 5,000 barrels of oil and\nfive mln cubic feet of gas per day were produced, it said.\n    \"This oil discovery will be followed-up as soon as possible\nby further seismic surveys and drilling. Should further\ndrilling and tests in the area yield positive results oil\nproduction from a floating platform could be considered.\"\n    Director General of Mineral and Energy Affairs Louw Alberts\nannounced the strike earlier but said it was uneconomic.\n Reuter\n&#3;',0
'GREECE REPEATS IT CAN DECIDE ON AEGEAN DRILLING Greece, replying to a warning from Turkey\nthat it will stop Athens from seeking oil in the Aegean Sea,\nrepeated today that it has an exclusive right to decide where\nor when to drill in the area.\n    A government spokesman said in a statement that if Ankara\nbelieved Greece was contravening international law, it could\nbring the issue before the courts.\n    The spokesman was responding to a statement by Turkish\nForeign Ministry spokesman Yalim Eralp that Ankara would take\naction to stop Greece\'s oil activities beyond its territorial\nwaters as they were a violation of the 1976 Berne accord.\n Reuter\n&#3;',0
'NCA CORP &lt;NCAC> 4TH QTR LOSS Shr loss 45 cts vs loss 1.34 dlrs\n    Net loss 1,240,000 vs loss 3,621,000\n    Revs 6,264,000 vs 4,626,000\n    Year\n    Shr loss 90 cts vs loss 2.01 dlrs\n    Net loss 2,487,000 vs loss 5,406,000\n    Revs 20.8 mln vs 21.7 mln\n Reuter\n&#3;',0
'BIOMEDICAL DYNAMICS CORP &lt;BMDC> 4TH QTR NET Shr profit one ct vs loss two cts\n    Net profit 52,405 vs loss 67,967\n    Sales 289,572 vs 188,713\n    Year\n    Shr loss one cts vs loss five cts\n    Net loss 51,019 vs loss 201,680\n    Sales 1.1 mln vs 490,935\n Reuter\n&#3;',0
'SANTA FE SOUTHERN PACIFIC APPEALS MERGER RULING Santa Fe Southern Pacific Corp will\nlater today formally ask the U.S. Interstate Commerce\nCommission (ICC) to reconsider its earlier rejection of the\nmerger of the holding company\'s railroad assets, a company\nspokesman said.\n    \"We expect to file papers late tonight\" asking the ICC to\nreopen the rail merger case, spokesman Rich Hall said in a\ntelephone interview from the company\'s Chicago headquarters.\n    The ICC had rejected in July, on grounds it would reduce\ncompetition, the merger of the Santa Fe and Southern Pacific\nRailroads.\n    The deadline for seeking ICC reconsideration of the merger\nplan is midnight tonight.\n    Santa Fe Southern Pacific owns the Santa Fe railroad and\nholds the Southern Pacific railroad assets in trust while\nawaiting federal approval of the merger plan.\n    The ICC had ordered the holding company to divest one or\nthe other railroad but stayed its ruling pending a decision on\nthe request for reconsideration.\n    If the ICC ultimately decides not to reopen the case, it is\nexpected to reinstate the divestiture order.\n Reuter\n&#3;',0
'BRAZIL DEBT SEEN PARTNER TO HARD SELL TACTICS Brazil\'s recent announcement of a\nsuspension in interest payments on 68 billion dlrs of foreign\ndebt gave the banking system the jitters and confirmed views\namong many international economists and commodities analysts\nthat Brazil will continue to flex its trading muscles in 1987.\n    The developing world\'s most indebted nation is also its\nmost prolific exporter of agricultural commodities such as\ncoffee and soybeans, and might maximize foreign exchange\nrevenue by selling hard on world markets, economists said.\n    \"That sounds like a reasonable strategy. But there is no\nway they can trade their way out of this situation,\" Aldo\nRoldan, Vice President for International Services at Chase\nEconometrics, said.\n    Roldan told Reuters that Brazil not only had to tackle the\nproblems of satisfying domestic demand and competing on glutted\nworld markets, but also had to work to make its position on\nforeign exchange markets more profitable.\n    \"Domestic costs have increased (due to inflation) and\nexporters have not had the same offsetting movement in exchange\nrates,\" Roldan said.\n    The Chase economist also said commodities markets were\ndepressed and generally did not appear very promising for a\ncountry like Brazil, where pure commodities account for some 50\npct of exports and in 1986 had a total value of around 23\nbillion dlrs.\n    But he added: \"They are always pretty aggressive and they\nhave good foreign marketing channels.\"\n    Analysts said a key factor in Brazilian trade will be\ncoffee, and even without background pressure from foreign\ncreditors the world\'s largest producer was expected to hit the\nmarket this year with a vengeance.\n    Negotiations between International Coffee Organization\n(ICO) members to re-establish producer export quotas broke up\nearlier this week with major producers and consumers accusing\neach other of intransigence.\n    \"Brazil would not tolerate a change in ICO regulations,\nwhich others wanted changed,\" one senior coffee dealer said.\n    The dealer, who declined to be named, said Brazil wanted to\npreserve its market share. At the end of the talks, he said\nBrazil hinted it could sell more than anyone else and others\nwould suffer.\n    Brazil will be an aggressive seller under any scenario but\nas yet there is no sign of unusually heavy Brazilian sales, the\ndealer said.\n    \"If they do come into the market at this level it will go\nlower and you could breach a dollar, ninety or eighty cents,\"\nhe said.\n    New York coffee futures for May delivery settled 2.29 cents\nlower Thursday at 104.68 cents a lb, while more distant\ndeliveries fell the six-cent maximum trading limit.\n    President of the Brazilian Coffee Institute, Jorio Dauster\ntold a press conference in Rio de Janeiro today that Brazil has\nno set target for its coffee exports following the breakdown of\nthe ICO talks on export quotas.\n    Many economists and analysts believe soybeans could be the\nfocus of possible stepped-up Brazilian marketing efforts. \"They\nwill be more aggressive this year than they have ever been,\"\naccording to Richard Loewy, analyst for Prudential-Bache\nSecurities Inc.\n    Loewy believes the foreign debt problem, a good crop, plus\ndifficulties with storage would help motivate selling of the\nBrazil soybean crop. \"Brazilian farmers also need cash flow and\nthey can\'t afford to store the crops,\" he said.\n    The Chicago soybean complex has been nervous for some time\nabout large South American crops developing under near ideal\nconditions towards record yields.\n    \"We are going to see a very rapid decline, earlier than\nusual, this year in our (U.S.) exports,\" Loewy said.\n    Tommy Eshleman, economist for the American Soybean\nAssociation (ASA), said this year\'s Brazilian soybean harvest\ncould total 18 mln tonnes, versus 13.7 mln last year.\n    Marketings will be very aggressive this summer when prices\nare usually high relative to the rest of the year due to the\nvulnerability of the U.S. crop to bad growing weather.\n    Another incentive to sell might be trade anticipation of a\nreduction in the U.S. government soybean loan rate, offered to\nfarmers who give crops as collateral, Eshleman said.\n    He said there has been some uncertainty this year about the\nsoybean loan rate, which acts as an effective floor for prices\nby keeping supplies away from the free market. Farmers can\nforfeit their beans to the government rather than repay the\nloan.\n    \"We\'re getting into a period when they (Brazil) are\nstarting to harvest and starting to export,\" Eshleman said. But\nhe added it will be a while before U.S. exports fall to below\n10 mln bushels a week from around 20 mln bushels currently.\n    Jose Melicias from the research department of Drexel\nBurnham Lambert said Brazil would be trying to export as much\nas it can this year because of its economic situation.\n    He said the debt situation was a major consideration. \"The\nBrazilian government also does not have enough money to pay for\nstorage,\" he added.\n    Asked if a return to an inflationary environment in Brazil\nwould make farmers inclined to hold onto crops, Melicias said\nit would not make a big difference.\n    On other commodity markets, Brazil\'s selling impact may be\nmuted no matter its need to generate capital.\n    Brazil is faced with a poor 1986/87 sugar harvest, which\ncould limit exports to the world market, analysts said. The\ncountry may have oversold and be unable to honor export\ncommitments, and this plus higher domestic demand caused by\nconsumer price subsidies on ethanol and refined sugar, will\ngive it little room to stretch exports, they said.\n    Brazil\'s other major crop, cocoa, is in its third year of\nsurplus. \"Cocoa consumption is basically flat and last year it\nfell, so I don\'t think they can start throwing out cocoa and\nfind many more markets for it,\" one analyst said.\n    \"If they come out as aggressive sellers, the market would\ncollapse and they can\'t afford to do that,\" she added.\n Reuter\n&#3;',0
'IEA SAYS OPEC FEBRUARY CRUDE OUTPUT 16.1 MLN BPD OPEC produced an average 16.1 mln barrels\nper day (bpd) of crude oil in February, down from 16.5 mln the\nprevious month and an overall 17.3 mln bpd in fourth quarter\n1986, the International Energy Agency said.\n    A few OPEC countries last month exceeded the production\nquotas set at their last conference in December, but liftings\nwere reduced from several countries, it said in its latest\nmonthly oil market report.\n    These cutbacks were due in part to buyer resistance to\nfixed prices, introduced from February 1, particularly for\nfixed volumes over an extended period.\n    It gave this breakdown for OPEC crude output, in mln bpd\n                    FOURTH QTR 1986  JANUARY 1987  FEBRUARY\n1987\n    SAUDI ARABIA    4.9              3.7           3.8\n    IRAN            1.6              2.2           1.9\n    IRAQ            1.6              1.6           1.7\n    UAE             1.3              1.2           1.2\n    KUWAIT          1.0              1.0           1.0\n    NEUTRAL ZONE    0.5              0.4           0.4\n    QATAR           0.3              0.3           0.2\n    NIGERIA         1.3              1.2           1.2\n    LIBYA           1.0              1.0           1.0\n                    FOURTH QTR 1986  JANUARY 1987  FEBRUARY\n1987\n    ALGERIA         0.6              0.6           0.6\n    GABON           0.1              0.2           0.2\n    VENEZUELA       1.6              1.6           1.6\n    ECUADOR         0.2              0.2           0.2\n    INDONESIA       1.3              1.2           1.2\n    TOTAL           17.3             16.5          16.1\n    The IEA said while Saudi production stayed below its quota\nof 4.133 mln bpd, actual sales might exceed output due to\nNorbec stock disposals. Contracts for Saudi crude have been\nsigned, but it is understood they have much leeway in required\nliftings.\n    The report said the reduction in Iraqi air attacks on\nIranian export facilities allowed Iran\'s output to reach 2.2\nmln bpd in January, but buyer resistance to fixed prices\napparently cut February production.\n    It said Iraqi exports are about 1.0 mln bpd through the\nTurkish pipeline, 0.1-0.2 mln by truck through Jordan and\n0.2-0.3 mln via the Saudi pipeline to Yanbu. Internal\nconsumption is some 0.3 mln bpd.\n    The IEA estimated total non-communist world oil supply in\nFebruary at 45.0 mln bpd, down from 45.4 mln in January and\n47.0 mln in the fourth quarter.\n    The February world supply figure is made up of 16.1 mln bpd\nOPEC crude production, 1.4 mln bpd OPEC natural gas liquids\n(ngls), 16.6 mln bpd OECD crude and ngls, 8.3 mln bpd other\ndeveloping countries\' crude and ngls, net trade of 1.1 mln bpd\nwith centrally planned economies, 0.5 mln bpd of\nnon-conventional crudes (such as tar sands and oil from coal)\nand 1.0 mln bpd from processiing gains.\n    Within the OECD, preliminary Norwegian data show record\n1.06 mln bpd output in January, with lower production expected\nin February in accordance with government curtailments of\napproximately 80,000 bpd, announced in support of OPEC.\n REUTER\n&#3;',0
'U.S. SENATE GROUP URGES SUBSIDIES FOR USSR A majority of the Senate Agriculture\nCommittee urged President Reagan to reverse his opposition to\nexport subsidies to the Soviet Union as a way to get its\nnegotiators to purchase some 500 mln dlrs in American wheat.\n    The group, led by committee chairman Patrick Leahy, a\nVermont Democrat, urged Reagan to step up negotiations with the\nSoviet Union by providing export subsidies to help U.S.\nfarmers.\n Reuter\n&#3;',1
'ENFIELD CORP PLANS NOTES, PREFERRED ISSUE &lt;Enfield Corp Ltd> said it planned to\nissue 60 mln dlrs principal amount of notes and 1.6 mln class E\npreferred shares at 25 dlrs a share.\n    The notes would bear 8 pct yearly interest, mature March\n31, 2002 and be convertible to common shares on either March\n31, 1997 or the business day before a fixed redemption date at\n13.50 dlrs a share, Enfield said.\n    It said each preferred share would be convertible to 1.85\ncommon shares on either March 31, 1997 or the business day\nbefore a fixed redemption date. Gordon Capital Corp and\nDominion Securities Inc agreed to acquire the issues, it said.\n    Enfield said it would use proceeds to retire short-term\nbank debt and boost its 22 pct stake in &lt;Consumers Packaging\nInc> and its interest in &lt;Federal Pioneer Ltd> through open\nmarket purchases.\n Reuter\n&#3;',0
'WICHITA &lt;WRO> TO BUY FOUNTAIN OIL &lt;FGAS> Wichita Industries Inc said it\nagreed to buy Fountain Oil and Gas Inc.\n    Wichita said it it will acquire all of the outstanding\nshares of Fountain in an exchange for about 11 mln newly issued\nWichita common shares. Wichita presently has about 3.6 mln\nshares outstanding.\n    The transaction calls for the issuance of 1-1/2 shares of\nWichita common for each outstanding Fountain share.\n    Wichita also said it made a number of refinancing\nagreements in connection with the acquisition.\n Reuter\n&#3;',0
'ARGENTINE INFLATION ROSE 6.5 PCT IN FEBRUARY Argentina\'s cost of living index\ngrew 6.5 pct in January, down from last month\'s 7.6 pct, the\nNational Statistics Institute said.\n    It said consumer prices rose 98.9 pct over the last 12\nmonths, against 81.9 pct inflation in the calendar year 1986.\n Reuter\n&#3;',0
'PEMEX LOWERS FEBRUARY FAR EAST CRUDE OIL PRICES The Mexican state oil company\nPetroleos Mexicanos (PEMEX) said its Far East customers would\nbe charged 17.25 dlrs per barrel for Isthmus crude in February\nand 14.45 dlrs for the heavier Maya.\n    Pemex said this was 32 cts less than January Isthmus and 15\ncts less than January Maya.\n    Far East customers, primarily Japan which buys an average\n180,000 barrels per day of which 150,000 is Isthmus, pay\nretroactively while European and U.S. clients are charged per\ndelivery.\n Reuter\n&#3;',0
'N.Z. DECEMBER QUARTER RETAIL SALES FALL 13.2 PCT Retail sales in the quarter ended\nDecember 31 fell a seasonally adjusted 13.2 pct compared with a\n7.8 pct rise in the September quarter and a 1.3 pct fall a year\nago period, the Statistics Department said.\n    Actual retail sales in the December quarter totalled 6.17\nbillion N.Z. Dlrs compared with 6.70 billion in the previous\nquarter and 6.10 billion a year ago period.\n    The largest decreases in the December quarter were recorded\nby the same stores which recorded the highest increase in sales\nin the September 1986 quarter before the introduction of a 10\npct value added goods and services tax on October 1, 1986.\n Reuter\n&#3;',0
'REPH ACQUISITION TO NEGOTIATE PESCH MERGER BID REPH Acquisition Co said its board\nappointed a special committee to negotiate the terms of an\noffer made earlier today by &lt;Pesch and Co> to merge with its\nRepublic Health Corp &lt;REPH> unit.\n    Pesch, through its Alpha Health Systems Corp unit, offered\nto acquire the 36 pct of Republic Health stock that it does not\nalready own.\n    Terms of Pesch\'s offer have not been disclosed.\n   \n Reuter\n&#3;',0
'HUNT GROUP HAS COMDATA STAKE, SEEKS INFLUENCE An investor group led by members of\nthe Hunt family of Dallas, Texas, told the Securities and\nExchange Commission it has acquired a 6.2 pct stake in Comdata\nNetwork Inc &lt;CDN> and may try to influence company policy.\n    The investor group, led by Rosewood Financial Inc, said it\nopposes a company recapitalization plan worked out between\nComdata and Mason Best Co, a Texas investment firm, which last\nreported holding about 9.5 pct of the company\'s stock.\n    The Hunt group said it offered on March 3 to buy the entire\n5.3 pct stake held by dissident shareholder Donald Carter at 14\ndlrs each, but has received no reply as of yesterday.\n    Rosewood, which is owned by the Caroline Hunt Trust Estate,\nwhose trustees include Margaret Hunt Hill, also said it has\nnotified the Federal Trade Commission of its intent to buy\nbetween 15 and 25 pct of Comdata\'s common stock.\n    Under federal law, it cannot buy more than 15 pct of\nComdata\'s stock until a 15 to 30 day waiting period is over,\nunless the FTC gives it early approval.\n    Under the proposed Comdata recapitalization plan, the\ncompany would buy up to 10 mln of its common shares at 13.25\ndlrs each.\n    Mason Best, which belongs to CNI Parnters, a Texas\npartnership, would not tender any of its stake under the plan,\nbut would instead buy another one mln Comdata common shares and\nwould get representation on the company\'s board.\n    The Hunt group said it has told Comdata that it considers\nrequired payments under the plan, such as a 1.5 mln dlr fee and\nthe issuance of a warrant to buy 500,000 common shares to be a\nwaste of the company\'s assets.\n    The Hunt group, which also includes securities Texas firms\nCypress Partners L.P and Driftwood Ltd, said it spent 15.2 mln\ndlrs on its 1,197,700 Comdata common shares.\n Reuter\n&#3;',0
'ARGENTINA-BRAZIL TRADE JUMPED 90 PCT IN 1986 Trade between Argentina and Brazil\njumped 90 pct in 1986 versus 1985, Foreign Minister Dante\nCaputo said.\n    Speaking to reporters, Caputo said the near doubling in\ntrade showed the \"tangible and immediate results\" of a wide-\nranging economic integration accord signed by the presidents of\nboth countries last July.\n    He said trade last year totalled 1.3 billion dlrs versus\n700 mln dlrs in 1985.\n    The accord provided for capital goods trade between the two\ncountries to rise to 2.0 billion dlrs over four years.\n    Argentine wheat exports to Brazil will increase from\n1,375,000 tonnes in 1987 to 2.0 mln tonnes in 1991, the accord\nsaid.\n Reuter\n&#3;',1
'SANTA FE SOUTHERN PACIFIC APPEALS MERGER RULING Santa Fe Southern Pacific Corp will\nlater today formally ask the U.S. Interstate Commerce\nCommission (ICC) to reconsider its earlier rejection of the\nmerger of the holding company\'s railroad assets, a company\nspokesman said.\n    \"We expect to file papers late tonight\" asking the ICC to\nreopen the rail merger case, spokesman Rich Hall said in a\ntelephone interview from the company\'s Chicago headquarters.\n    The ICC had rejected in July, on grounds it would reduce\ncompetition, the merger of the Santa Fe and Southern Pacific\nRailroads.\n    The deadline for seeking ICC reconsideration of the merger\nplan is midnight tonight.\n Reuter\n&#3;',0
'E.A. VINER HOLDINGS LTD &lt;EAVKF> 4TH QTR LOSS Shr loss 10 cts vs profit seven cts\n    Net loss 918,000 vs profit 585,000\n    Revs 5,475,000 vs 4,430,000\n    YEAR\n    Shr profit 32 cts vs loss 24 cts\n    Net profit 2,909,000 vs loss 1,501,000\n    Revs 23.7 mln vs 15.0 mln\n    Note: 1986 4th qtr net includes 1.5 mln U.S. dlr, or 17 ct\nshr, writedown of stake in Heck\'s Inc &lt;HEX> and 300,000 U.S.\ndlr, or three ct shr, writedown of arbitrage positions. 1986\nfl-yr net includes 900,000 dlr net writedown of stake in\nHeck\'s.\n    U.S. dlrs.\n Reuter\n&#3;',0
'CARPET FIRM UNIT CUTS ALLIED PRODUCTS&lt;ADP> STAKE A group led by GFI Nevada Inc, a\nsubsidiary of General Felt Industries, a Saddlebrook, N.J.\ncarpet maker, said it cut its stake in Allied Products Corp to\n169,888 shares, or 3.4 pct, from 288,652 shares, or 5.8 pct.\n    In a filing with the Securities and Exchange Commission,\nGFI said it sold 114,000 Allied Products common shares on March\n3 at 42 dlrs each and donated another 4,746 shares to two\nuniversities.\n    It said its dealings in the company\'s common stock were for\ninvestment purposes only.\n\n Reuter\n&#3;',0
'TALKS FAIL TO END BRAZILIAN SEAMEN\'S STRIKE Pay talks aimed at ending a\nweek-old national seamen\'s strike collapsed today and the\nstrike will continue, a union official said.\n    The walkout by Brazil\'s 40,000 seamen has idled 160 ships\nin various ports, Jorge Luis Leao Franco, a senior official of\nthe National Merchant Marine Union, told Reuters.\n    The strikers, who are seeking a 275 pct pay increase, have\nrejected offers of a 100 pct raise from the state oil company\nPetrobras and an 80 pct increase from the National Union of\nMaritime Navigation Companies (Syndarma).\n    Leao Franco said eight hours of talks in Rio de Janeiro\nwith Labor Minister Almir Pazzianotto ended today without\nresolving the dispute.\n    He said six ships were idle abroad -- in the Netherlands,\nSpain, Venezuela, France and South Africa.\n    Economic analysts said the strike was of major concern to\nthe government, which has suspended interest payments on part\nof Brazil\'s foreign debt following a drastic deterioration in\nthe country\'s trade balance.\n    The head of the National Merchant Marine Authority, Murilo\nRubens Habbema, was quoted today as saying that if the strike\ncontinued foreign ships could be authorized to transport\nBrazilian exports.\n    \"Brazil is living through a crisis at the moment and it is\nnot conceivable that exports be hit,\" he told the Gazeta\nMercantil newspaper.\n Reuter\n&#3;',0
'SHEARSON HAS 5.4 PCT OF CHICAGO MILWAUKEE &lt;CHG> Shearson Lehman Brothers Inc, the\nbrokerage subsidiary of American Express Co &lt;AXP>, said it has\nacquired 131,300 shares of Chicago Milwaukee Corp, or 5.4 pct\nof its total outstanding common stock.\n    In a filing with the Securities and Exchange Commission,\nShearson said it bought the stake for 18.8 mln dlrs for\ninvestment purposes and has no intention of seeking control of\nthe company.\n Reuter\n&#3;',0
'VINER &lt;EAVKF> VIABLE AFTER HECK\'S &lt;HEX> MOVE E.A. Viner Holdings Ltd said the earlier\nreported Chapter 11 bankruptcy filing of Heck\'s Inc &lt;HEX>, in\nwhich Viner holds 408,000 shares, would not materially affect\nViner\'s capital position or its ability to carry on its\nprofitable brokerage business.\n    Viner said its brokerage subsidiary, Edward A. Viner and Co\nhad regulatory capital of 24.5 mln U.S. dlrs at year-end 1986.\n    The company said Heck\'s Chapter 11 filing could, however,\naffect Viner\'s previously reported legal action to recover\ncosts from an aborted merger agreement with Heck\'s.\n     It said it and the Toussie-Viner group, with which it made\nthe merger offer, were assessing their options regarding the\nHeck\'s investment.\n    Viner earlier reported a fourth quarter loss of 918,000\nU.S. dlrs after a 1.5 mln dlr writedown of its stake in Heck\'s.\nIt earned 585,000 dlrs in the previous fourth quarter.\n    Full-year earnings totaled 2.9 mln dlrs against a\nyear-earlier loss of 1.5 mln dlrs. The full-year earnings\nincluded a 900,000 dlr net writedown of the Heck\'s stake, it\nsaid.\n Reuter\n&#3;',0
'TWA &lt;TWA> SUES USAIR &lt;U> OVER POISON PILL Trans World Airlines Inc said it filed\nsuit in Delaware Chancery Court against USAir Group Inc and its\nboard of directors seeking to invalidate its \"poison pill\"\nanti-takeover plan.\n    TWA vice president and general counsel Mark Buckstein said\nTWA also sought a declaratory judgement from the court that its\n52 dlr per share takeover offer for USAir would in no way\ninterfer with USAir\'s possible buyout of Peidmont Aviation Inc\n&lt;PIE>.\n    Buckstein said TWA asked the court to enjoin the\nenforcement of USAir\'s shareholder rights plan, or \"poison\npill.\" Such provisions, which typically allow for the issue of\nsecurities to shareholders in the event of a hostile takeover\nbid, are aimed at deterring takeovers by making them more\nexpensive.\n    USAir earlier today rejected TWA\'s offer, saying TWA\'s bid\nwas an attempt to interfer with its buyout of Piedmont.\n    USAir also had said its counsel would investigate the\nmatter. Tonight, a spokesman for USAir said the airline had no\ncomment on TWA\'s lawsuit.\n    USAir did respond, however, to a TWA request to the\nDepartment of Transportation for permission to buy up to 51 pct\nof USAir stock and place the stock in a voting trust pending\napproval of a takeover.\n    USAir said the request was \"hastily pasted together in\norder to take advantage of a regulatory anamoly that would\nallow TWA to accomplish in a regulated environment actions that\nwould be impermissable in the non-regulated economy at large.\"\n    USAir called on the transportation department to reject\nTWA\'s request.\n Reuter\n&#3;',0
'&lt;FOUR SEASONS HOTELS INC> YEAR NET Oper shr 99 cts vs 54 cts\n    Oper net 9,515,000 vs 3,449,000\n    Revs 509.3 mln vs 440.5 mln\n    Note: 1985 net excludes extraordinary gain of 1.2 mln dlrs.\n Reuter\n&#3;',0
'&lt;IVEY PROPERTIES INC> RAISES QUARTERLY DIVIDEND Ivey Properties Inc said it\nraised its quarterly dividend to 18 cts a share from 14 cts and\ndeclared both an extra dividend of 27 cts a share and a 50 pct\nstock dividend.\n    It said the dividends will be paid April one to\nshareholders of record March  16.\n    For the stock dividend, Ivey said it will pay for\nfractional shares at 25 dlrs per share.\n   \n Reuter\n&#3;',0
'MEXICO SUSPENDS OVERSEAS COFFEE SALES Mexico has temporarily suspended\noverseas coffee sales due to falling prices triggered by the\nfailure of the International Coffee Organisation (ICO) meeting\nto agree a quota system at its latest meeting, the official\nNotimex news agency said.\n    \"We\'re just waiting a while for prices to improve,\" an\nunidentified Mexican trader told the agency.\n    Mexico has already sold 80 pct of its export coffee\nproduced in the year to last September, the source said. The\ncountry exports about 3.3 mln 60-kilo bags a year.\n Reuter\n&#3;',0
'GROUP BOOSTS SCANDINAVIA FUND &lt;SCF> STAKE A shareholder group led by a Swedish\ninvestment firm and a Norwegian investor said it raised its\nstake in the Scandinavia Fund Inc to 2,165,300 shares, or 33.3\npct of the total, from 1,978,900 shares, or 30.5 pct.\n    In a filing with the Securities and Exchange Commission,\nthe group, which includes Ingemar Rydin Industritillbehor AB,\nthe firm, and investor Erik Martin Vik, said it bought the\nadditional shares between Feb 24 and March 9.\n Reuter\n&#3;',0
'OFFSHORE INVESTMENT FIRM UPS FRANCE FUND STAKE VBI Corp, an offshore-based\ninvestment firm, told the Securities and Exchange Commission it\nraised its stake in the France Fund Inc &lt;FRN> to 681,800\nshares, or 9.1 pct of the total, from 551,000, or 7.4 pct.\n    VBI, which is based in Turks and Caicos Islands, the\nBritish West Indies, said it bought the additional shares\nbetween Feb 24 and March 4.\n    It has said it bought its France Fund stake for investment\npurposes only.\n Reuter\n&#3;',0
'COSTA RICA OPTIMISTIC ABOUT REFORMING ICO Costa Rica\'s economy minister said he\nsees new hope for winning changes in the International Coffee\nOrganisation system of export quotas.\n    Minister Luis Diego Escalante, who serves as president of\nthe Costa Rican Coffee Institute, said he was hopeful because\nof the support offered Costa Rica and other smaller producing-\nnations by such major consumers as the United States, Britain\nand the Netherlands at last week\'s ICO meeting in london.\n    Escalante told a news conference here he \"carried the weight\nof the negotiations\" at the meeting by calling for larger export\nquotas for the smaller coffee-growing nations.\n    Costa rica is insisting, Escalante said, on a new quota\nsystem based on a producing nation\'s real export capacity, once\nit has satisfied internal demand.\n    \"There are countries such as our own whose sales\npossibilities are close to or above 100 pct of their current\nquotas,\" Escalante said.\n    At the same time, there are countries favoured by the\ncurrent system that have been assigned quotas far above their\nexport potential, he said.\n    The current ICO quota system is \"unfair and autocratic,\"\nEscalante said.\n    Escalante attributed the nosedive in international coffee\nprices over the last week to speculation rather than real\nmatters of supply and demand.\n    \"Be careful,\" he warned, \"there\'s not as much coffee in the\nworld as they say. What there is are bags of sawdust.\"\n Reuter\n&#3;',0
'U.S. MONEY GROWTH SLOWS SHARPLY, ECONOMISTS SAY U.S. money supply growth is slowing\ndown rapidly, and some economists believe that all three of the\nFederal Reserve\'s main monetary aggregates may even have\ncontracted in February.\n    A contraction is unlikely to be a major concern for the\nFed, especially as it would follow a long period of torrid\ngrowth, but it could give the central bank extra leeway in the\nweeks ahead if it decided that a relaxation of monetary policy\nwas justified on account of weakness in the economy.    \n    M-1 money supply for the week ended February 23, reported\ntoday, rose 1.9 billion dlrs to 738.5 billion, but preliminary\nforecasts call for a drop next week of around two billion dlrs.\nThe monthly average in January was 737.1 billion dlrs.\n    M-1 makes up about a quarter of M-2 and a fifth of M-3.\nWith other components of M-2, such as money-market deposit\naccounts and small time deposits, also falling, the stage is\nset for falls in the broader aggregates too, economists say.\n    M-1 has been largely discredited because its traditional\nlink to economic growth has disintegrated under the impact of\nfalling interest rates and banking deregulation.\n    But the consistent behavior of all three aggregates is\nlikely to impress the Fed, said Ward McCarthy of Merrill Lynch\nEconomics Inc.\n    \"The Fed has confidence in the aggregates when they\'re all\nsending the same signal. This is going to raise some eyebrows\nat the Fed,\" McCarthy said.\n    Stephen Slifer of Shearson Lehman Brothers Inc added, \"We\nhave some very good-looking monetary aggregate data. It\'s\ncoming in a lot weaker than I thought.\"    \n    The economists were quick to caution that one month\'s data\nprove nothing, especially because money growth previously had\nbeen so rapid. M-1 in the last 52 weeks has grown at a 16.7 pct\nrate and at a 19.1 pct rate in the past 13 weeks.\n    Moreover, some of the contraction in M-2 can probably be\nexplained by a shift of funds from savings vehicles into the\nbooming stock market and is thus not an indication of a\nslowdown in the business expansion.\n    But the data raise the tantalizing possibility for the bond\nmarkets that the slowdown in money growth is partly a\nreflection of a weaker economy that needs more Fed stimulus.\n    McCarthy noted that the slower money growth coincides with\nsigns that the economy is losing momentum as the quarter\nprogresses. \"Some of the economic indicators are not as rosy as\nthey were a month ago,\" he noted.\n    He expects only five to six pct M-1 growth in March and\nrises in M-2 and M-3 of about four pct.\n    Slifer sees stronger growth of 10 pct in M-1 and five pct\nor less for M-2 and M-3, but the rates would still be moderate\nenough to encourage the Fed to ease policy if gross national\nproduct for the first quarter proved to be weak. \"You\'d\ncertainly be more inclined to ease than you would in the past.\"\n    There was certainly nothing in the Fed\'s latest balance\nsheet, however, to suggest a change of policy is already under\nway, economists said. Discount window borrowings were in line\nwith expectations at 233 mln dlrs a day.\n    Robert Brusca of Nikko Securities Co International Inc\nargued that an easier Fed policy is unlikely to do much to\nsolve America\'s most urgent economic problem, its massive trade\ndeficit. Because of the possibility that further dollar\ndepreciation - and thus rising inflation - may be needed to\nclose the trade gap, Brusca said \"I\'m not prepared to be all\nthat optimistic about the bond market.\"\n Reuter\n&#3;',0
'ECUADOR\'S CONSUMER PRICES RISE 2.5 PCT IN FEBRUARY Ecuador\'s consumer price index rose 2.5\npct in February to 562.4 (base 1978), the National Statistics\nand Census Institute said.\n    The rise compared to a 1.8 pct rise in January and a 2.5\npct rise in February 1986.\n    The Institute said accumulated overall inflation for the\nfirst two months of this year was 4.0 pct compared to 5.0 pct\nfor the same period last year.\n    Inflation for the 12 months ending February 1987 was 25.5\npct compared to 13.0 pct for the 12 months ending February\n1986.\n REUTER\n&#3;',0
'WEST GERMAN FISHMEAL IMPORTS HIGHEST IN 15 YEARS West German gross fishmeal imports rose\n60,260 tonnes, or 14.6 pct, last year to 471,891 tonnes, the\nhighest level since 1972, trade sources said.\n    Re-exports fell by 6.6 pct, resulting in a surge in net\nimports from 175,901 to 251,708 tonnes, an increase of 43 pct.\n    Total West German consumption was estimated at around a\nhigh 287,000 tonnes, largely reflecting attractive prices. The\nsources, however, could not give comparative figures for 1985.\n    South American producer countries supplied 97 pct of West\nGerman requirements, with Chile shipping 229,176 tonnes (1985 -\n182,959) and Peru 210,513 (147,014) tonnes.\n    The two South American countries\' share of the West German\nmarket rose to 93.2 pct from 80.2 pct because imports from\nEcuador fell to 21,110 tonnes in 1986 from 51,722 in 1985.\n    West Germany imported 56,823 tonnes of fishmeal in\nDecember, up from 46,236 tonnes in the same 1985 month, with\nre-exports at 22,262 tonnes after 25,062 a year earlier.\n Reuter\n&#3;',0
'TPA OF AMERICA INC &lt;TPS> 4TH QTR LOSS Shr loss five cts\n    Net loss 753,000\n    Revs 8,932,000\n    Avg shrs 16.0 mln\n    Year\n    Shr loss seven cts\n    Net loss 995,000\n    Revs 27.9 mln\n    Avg shrs 14.8 mln\n    NOTE: Company started operating in August 1985.\n    Results reflect change in fiscal year from November 30 end.\n Reuter\n&#3;',0
'SILVER STATE MINING &lt;SSMC> SEES PRODUCTION RISE Silver State Mining Corp said it expects\ngold production this year to be more than double 1986\'s 17,458\nounces.\n    The company\'s 1985 production was 2,050 ounces.\n Reuter\n&#3;',0
'MCGRATH RENTCORP &lt;MGRC> SEES NET RISING McGrath RentCorp said as a\nresult of its December acquisition of Space Co, it expects\nearnings per share in 1987 of 1.15 to 1.30 dlrs per share, up\nfrom 70 cts in 1986.\n    The company said pretax net should rise to nine to 10 mln\ndlrs from six mln dlrs in 1986 and rental operation revenues to\n19 to 22 mln dlrs from 12.5 mln dlrs.\n    It said cash flow per share this year should be 2.50 to\nthree dlrs.\n Reuter\n&#3;',0
'SILVER STATE MINING CORP &lt;SSMC> 4TH QTR NET Shr one ct vs one ct\n    Net 528,790 vs 286,969\n    Revs 2,537,803 vs 773,729\n    Year\n    Shr seven cts vs one ct\n    Net 2,429,576 vs 404,394\n    Revs 6,726,327 vs 1,150,961\n Reuter\n&#3;',0
'SIZZLER RESTAURANTS INTERNATIONAL INC &lt;SIZZ> NET Shr 15 cts vs 14 cts\n    Net 2,547,000 vs 2,242,000\n    Revs 56.7 mln vs 44.0 mln\n    Avg shrs 17.6 mln vs 15.6 mln\n    Nine mths\n    Shr 54 cts vs 54 cts\n    Net 9,249,000 vs 8,334,000\n    Revs 173.3 mln vs 134.3 mln\n    Avg shrs 17.1 mln vs 15.5 mln\n Reuter\n&#3;',0
'MCANDREWS AND FORBES ARE OFFERING 18.50 DLRS PER SHARE FOR REVLON STOCK\n ',0
'U.K. MONEY MARKET DEFICIT REVISED TO 550 MLN STG The Bank of England said it had revised\nits estimate of the shortage in the money market back to its\ninitial forecast of 550 mln stg.\n    At midsession the central bank changed the shortfall to 500\nmln and provided assistance worth 96 mln stg through bank bill\npurchases in bands one and two at established dealing rates.\n REUTER\n&#3;',0
'DONEGAL GROUP INC &lt;DGIC> YEAR NET Shr six cts\n    Net 155,764\n    Revs 6,506,792\n    NOTE: Company formed in August 1986.\n Reuter\n&#3;',0
'PETER MILLER APPAREL GROUP 3RD QTR JAN 31 LOSS Shr loss 28 cts vs profit seven cts\n    Net loss 931,000 vs profit 7,000\n    Revs 2.3 mln vs 2.0 mln\n    Nine mths\n    Shr loss 55 cts vs profit seven cts\n    Net loss 1,619,000 vs profit 185,000\n    Revs 7.7 mln vs 7.1 mln\n    NOTE: Shr figures adjusted for issue of 600,000 shares in\nOctober, 1986. Avg shrs not given.\n    Full name is &lt;Peter Miller Apparel Group Inc>.\n Reuter\n&#3;',0
'KRELITZ INDUSTRIES INC &lt;KRLZ> 3RD QTR NET Period ended Jan 31\n    Shr seven cts vs 14 cts\n    Net 136,000 vs 274,000\n    Sales 48.4 mln vs 38.2 mln\n    Nine mths\n    \n    Shr 30 cts vs 17 cts\n    Net 573,000 vs 328,000\n    Sales 140.0 mln vs 102.4 mln\n    NOTE: Prior year period ended Sept 30\n    Comparable periods reflect change in fiscal yearend to\nApril from December\n Reuter\n&#3;',0
'DONEGAL &lt;DGIC> PROJECTS FULL YEAR RESULTS Donegal Group Inc, which today\nreported earnings of 155,764 dlrs on revenues of 6,506,792 dlrs\nfor the period from August 26 startup through the end of 1986,\nsaid it expects \"much improved\" profits for the full year 1987\non revenues of about 32 mln dlrs.\n Reuter\n&#3;',0
'MACANDREWS AND FORBES HOLDINGS BIDS FOR REVLON McAndrews and Forbes Holdings Inc said\nit will offer 18.50 dlrs per share for all of Revlon Group\nInc\'s &lt;REV> outstanding common stock.\n    McAndrews said terms of the acquisition have not been\ndetermined and are subject to the acquisition of financing.\n    Revlon closed yesterday on the New York Stock Exchange at\n14-3/4.\n    The company said it would bid for all stock it or its\naffiliates do not already own.\n    McAndrews and Forbes said it informed the board of\ndirectors of Revlon that it expects to make a formal proposal\nin the near future. It also said there can be no assurance as\nto the terms of the proposals or that the deal can be\nconcluded.\n Reuter\n&#3;',0
'HOG AND CATTLE SLAUGHTER GUESSTIMATES Chicago Mercantile Exchange floor\ntraders and commission house representatives are guesstimating\ntoday\'s hog slaughter at about 300,000 to 305,000 head versus\n292,000 week ago and 316,000 a year ago.\n    Saturday\'s hog slaughter is guesstimated at about 30,000 to\n55,000 head.\n    Cattle slaughter is guesstimated at about 128,000 to\n130,000 head versus 129,000 week ago and 119,000 a year ago.\n    Saturday\'s cattle slaughter is guesstimated at about 20,000\nto 40,000 head.\n Reuter\n&#3;',0
'BOREALIS IN GOLD EXPLORATION PACT WITH FARAWAY &lt;Borealis Exploration Ltd> said\nit entered into an agreement with &lt;Faraway Gold Mines Ltd> of\nVancouver, British Columbia, under which Faraway will acquire\nan interest in Borealis\'s Whale Cove Gold Property in the\nKeewatin district of the Northwest Territories.\n    Faraway will spend 1.5 mln dlrs on exploration over three\nyears and will hold 50 pct of the property until all expenses\nare paid out, when the interest will drop to 40 pct.\n    Also, Borealis and Faraway will issue treasury shares to\neach other and Faraway will buy 575,000 Borealis shares from\nBorealis president Lorne Spence.\n Reuter\n&#3;',0
'U.K. MONEY MARKET GETS 350 MLN STG AFTERNOON HELP The Bank of England said it provided\nassistance worth 350 mln stg during the afternoon session which\ntakes total help so far today to 446 mln stg against a shortage\nestimated at around 550 mln stg.\n    The central bank purchased outright bank bills comprising\n120 mln stg in band one at 10-7/8 pct and 227 mln stg in band\ntwo at 10-13/16 pct. It also bought treasury bills worth one\nmln stg in band one and two mln stg in band two at the same\nrates of interest as bank bills.\n REUTER\n&#3;',0
'IMRE &lt;IMRE> SELLS STOCK TO EUROPEAN INSTITUTIONS IMRE Corp said it has received\ncommitments for a group of European institutions to buy about\n400,000 IMRE shares for 2,500,000 dlrs, with closing expected\non March 16.\n                                                   \n Reuter\n&#3;',0
'INSTRUMENTARIUM ACQUIRES NOKIA SUBSIDIARY Finland\'s medical group Instrumentarium\nOy &lt;INMR.HE> said it has acquired electronics components\nimporters and marketers &lt;Ferrado Oy> and &lt;Insele Oy>,\nsubsidiaries of Finland\'s electronics group Nokia Oy &lt;NOKS.HE>.\n    It said in a statement Ferrado and Insele will be merged\ninto Instrumentarium\'s Professional Electronics and Information\nSystems Division.\n    It did not disclose a price for the acquisitions but said\nit had issued 30,000 restricted B shares as partial payment to\nNokia.\n REUTER\n&#3;',0
'FUQUA INDUSTRIES INC &lt;FQA> SETS QUARTERLY Qtly div six cts vs six cts prior\n    Pay April One\n    Record March 20\n Reuter\n&#3;',0
'&lt;M-CORP INC> YEAR DEC 28 NET Shr 73 cts vs 55 cts\n    Net 1,691,878 vs 1,117,747\n    Revs 7.1 mln vs 4.9 mln\n    Avg shrs 2.3 mln vs 2.0 mln\n    NOTE: Share results reflect two-for-one stock split in\nJune, 1986.\n Reuter\n&#3;',0
'DOME PETROLEUM REAFFIRMS DOME MINES STAKE FOR SALE AT RIGHT PRICE, SPOKESMAN SAYS\n ',0
'COMMONWEALTH MORTGAGE &lt;CCMC> BUYS ARMONK FIRM Commonwealth Mortgage Co said\nit purchased Westfiar Funding Corp of Armonk, N.Y., for an\nundisclosed amount of cash.\n    Commonwealth said Westfair originated 60 mln dlrs of\nresidential mortgage loans during 1986.\n Reuter\n&#3;',0
'&lt;M-CORP INC> RAISES DIVIDEND Semi-annual div 7-1/2 cts vs five cts\n    Pay April nine\n    Record March 26\n Reuter\n&#3;',0
'PERMIAN &lt;PBT> RAISES CRUDE PRICES Permian Corp said that effective march 5\nit raised its posted prices for crude oil 50 cts a barrel.\n    The raise brought its posted prices for West texas\nIntermediate up by 50 cts to 17.00 dlrs a barrel.\n    West Texas Sour was also raised by 50 cts to 17.00 dlrs a\nbarrel.\n    A Permian spokesman said that the South Louisiana sweet\nposted prices was also raised 50 cts a barrel to 17.35 dlrs.\n Reuter\n&#3;',0
'AMERICAN STORES CO 4TH QTR SHR 1.57 DLRS VS 1.60 DLRS\n ',0
'CENTRAL SPRINKLER CORP &lt;CNSP> 1ST QTR JAN 31 NET Shr 19 cts vs 20 cts\n    Shr diluted 18 cts vs 18 cts\n    Net 578,000 vs 554,000\n    Sales 10.7 mln vs 10.4 mln\n    Avg shrs 3,006,s302 vs 2,795,820\n    Avg shrs diluted 4,271,488 vs 4,081,534\n Reuter\n&#3;',0
'&lt;FAR WEST INDUSTRIES INC> RAISES DIVIDEND Annual div four cts vs 1.76 cts\n    Pay March 20\n    Record March 15\n Reuter\n&#3;',0
'&lt;FAR WEST INDUSTRIES INC> YEAR NET Shr 23 cts vs 17 cts\n    Net 761,000 vs 490,000\n    Revs 7.3 mln vs 4.5 mln\n\n Reuter\n&#3;',0
'U.K. OFFICIALS STUDY SALMONELLA/CALF FEED LINK U.K. Officials are studying the possible\nlink between the use of antibiotics in calf feeds and the\nspread of drug-resistant strains of salmonella in humans, a\nMinistry of Agriculture official said.\n    A study published in the New England Journal of Medicine\nyesterday stated that the spread of an unusual strain of\nsalmonella that is resistant to the drug chloramphenicol had\nbeen shown to be linked to farms that used the drug to promote\nthe growth of cattle.\n   The U.K. Ministry of Agriculture is working with the\nDepartment of Health and the Public Health Laboratory to\ninvestigate the whole subject of resistant strains of\nsalmonella.\n    \"The Ministry of Agriculture is concerned about the possible\neffects on human and animal health,\" the official said. The\ngovernment is also studying a recommendation from the Farm\nAnimal Welfare Council (FAWC) to restrict the trade of calves\nunder 56 days old through markets. The FAWC says this would\nhelp reduce the spread of salmonella.\n Reuter\n&#3;',0
'CANADA RULES U.S. CORN INJURING CANADIAN FARMERS, UPHOLDS DUTY \n ',1
'DOME&lt;DMP> REPEATS DOME MINES&lt;DM> STAKE FOR SALE Dome Petroleum Ltd\'s 23.2 pct stake of\ngold producer Dome Mines Ltd continues to be for sale \"at the\nright price,\" spokesman David Annesley said in response to an\ninquiry.\n    Reaffirming remarks made last year by chairman Howard\nMacdonald, Annesley said the company is considering selling its\nstake in Dome Mines.\n    Concerning Dome Petroleum\'s 42 pct stake in &lt;Encor Energy\nCorp Ltd>, Annesley said \"Encor is a strategic investment for\nDome, and we have no intention of selling it.\"\n    Dome spokesman Annesley said in answer to a question that\nhe was not aware of any negotiations now under way toward the\nsale of Dome Petroleum\'s 20.9 mln Dome Mines shares.\n    He also declined to specify at what price the company would\nconsider selling it shares.\n    \"Clearly today\'s prices of more than 15 dlrs a share (of\nDome Mines stock) are very attractive,\" Annesley commented.\n    \"We were considering the sale \'at the right price\' at a time\nwhen the shares were priced around nine to 10 dlrs,\" he added. A\nprice of around 15 dlrs a share would be considered \"fairly\nattractive,\" Annesley said.\n    Annesley also Dome Petroleum may be able to sell its Dome\nMines\' shares at a premium to market prices. \"There might be an\nopportunity to pick up a premium on that because it would be\nvirtually a control block in Dome Mines,\" he said.\n    Dome Mines shares traded earlier at 15-1/4 dlrs, off 1/4 on\nthe Toronto Stock Exchange.\n    Dome Petroleum is now negotiating a plan to restructure\ndebt of more than 6.1 billion Canadian dlrs with a group of 56\nmajor creditors, which includes Dome Mines and Encor Energy.\n    The company previously said it expects to detail the plan\nto lenders early next week.\n Reuter\n&#3;',0
'CANADA RULES U.S. CORN INJURING CANADIAN  FARMERS, UPHOLDS DUTY\n ',1
'NEW DUTCH SPECIAL ADVANCES ANNOUNCED AT 5.3 PCT The Dutch central bank announced new\neleven-day special advances at an unchanged 5.3 pct to aid\nmoney market liquidity, covering the period March 9 to 20.\n    The amount will be set at tender on Monday March 9 between\n0800 and 0830 GMT. The new facility will replace the current\n4.8 billion guilders of seven-day advances expiring Monday.\n    Money dealers estimated today\'s money market shortage at 11\nto 11.25 billion guilders, barely changed from yesterday.\n    They said call money was still relatively high at 6-1/8 to\n6-1/4 pct as a result of the tight set of bids accepted by the\nBank for the previous seven-day facility.\n REUTER\n&#3;',0
'SELECTERM INC &lt;SLTM> 4TH QTR LOSS Shr loss not given vs profit 16 cts\n    Net loss 309,000 vs profit 426,000\n    Revs 6,358,000 vs 6,747,000\n    Year\n    Shr profit 27 cts vs profit 76 cts\n    Net profit 713,000 vs profit 2,021,000\n    Revs 24.9 mln vs 27.1 mln\n    NOTE: Pretax net profits 113,000 dlrs vs 824,000 dlrs in\nquarter and 1,863,000 dlrs vs 3,606,000 dlrs in year.\n Reuter\n&#3;',0
'STONE CONTAINER &lt;STO> COMPLETES WAITING PERIOD Stone Container Corp said it and\nSouthwest Forest Industries Inc &lt;SWF> completed all waiting\nperiod requirements under the Hart-Scott-Rodino Anti-Trust\nImprovements Act of 1976.\n    Stone said it will proceed with its previously proposed\nacquisition of Southwest.\n Reuter\n&#3;',0
'ICO QUOTA TALKS FAILURE PARALYSE HAMBURG MARKET The failure of International Coffee\nOrganization talks on the reintroduction of quotas has\nparalysed business on the Hamburg green coffee market in the\npast week, trade sources said.\n    There was only sporadic activity for spot material, which\nwas mainly requirement buying, they said, adding that\npre-registered coffees were no longer available.\n    They said they expected Brazil and Colombia to open export\nregistrations for May shipment next week. However, the\npresident of the Brazilian Coffee Institute, Jorio Dauster,\nsaid yesterday he had not yet decided when its registrations\nwould reopen.\n REUTER\n&#3;',0
'RESIDENTIAL MORTGAGE INVESTMENTS INC &lt;RMI>PAYOUT Qtly div 24 cts vs 24 cts prior\n    Pay April 10\n    Record March 31\n Reuter\n&#3;',0
'SOUTHWEST &lt;SWF>, STONE &lt;STO> COMPLY FOR MERGER Southwest Forest Industries said\nit and Stone Container Corp have complied with all federal\nwaiting period requirements for Stone\'s proposed 32.25 dlr per\nshare cash acquisition of Southwest.\n    Southwest currently has 12.3 mln shares outstanding. The\ncompanies entered into a merger agreement on January 27, and\nmade their initial findings with the Department of Justice and\nthe Federal Trade Commission on February three.\n    Southwest said the waiting period expired on March 5,\nwithout receiving a formal second request for information.\n   \nREUTER...^M\n&#3;',0
'OKC LIMITED PARTNERSHIP &lt;OKC> SETS LOWER PAYOUT OKC Limited Partnership said it will make\na five ct per share distribution to unitholders, down from 15\ncts in December and payable March 30 to holders of record March\n18.\n    The partnership said the payout is the largest quarterly\ncash distribution allowable under terms of its letter of credit.\n Reuter\n&#3;',0
'BIOTECH RESEARCH LABORATORIES INC &lt;BTRL> 4TH QTR Shr profit one ct vs loss seven cts\n    Net profit 63,761 vs loss 43,006\n    Revs 1,961,219 vs 1,413,859\n    Year\n    Shr loss seven cts vs loss 20 cts\n    Net loss 380,273 vs loss 1,108,151\n    Revs 6,245,012 vs 5,368,522\n    Shr out 5,950,000 vs 5,462,547\n Reuter\n&#3;',0
'CANADA UPHOLDS COUNTERVAIL DUTY ON U.S. CORN The Canadian Import Tribunal ruled today\nsubsidized U.S. corn imports were injurious to Canadian growers\nand upheld a countervailing duty of 84.9 U.S. cts a bushel set\nearlier this year.\n    The ruling is the result of trade action launched in 1985\nby the Ontario Corn Producers Association that contended U.S.\nsubsidies were driving American corn prices below Canadian\nproduction costs.\n    A spokesman for the Department of Revenue said a study of\nthe level of the duty will be undertaken in the next six months\nto determine if it should be adjusted.\n Reuter\n&#3;',1
'FEBRUARY U.S. JOBS GAINS SHOW STRONGER ECONOMY Momentum in th U.S. economy may be\npicking up given solid across-the board increases in the\nFebruary U.S. employment report, economists said.\n    U.S. non-farm payroll employment rose 337,000 in February,\ntwice what the financial markets expected. This follows a\n319,000 gain in January, revised down from a previously\nreported 448,000 increase.\n    \"Even if you look at January and February together, this is\nstill a much stronger report than the consensus expectation in\nthe market,\" said Allan Leslie of Discount Corporation.\n    Economists stressed that gains in hours worked signal much\nlarger gains in February U.S. production and income than\npreviously forecast.\n    The average work week rose 0.2 hours to 35.0 hours from\n34.8 hours in January. The average manufacturing work week rose\n0.3 hours to 41.2 hours, the longest factory work week since\nNovember 1966, the Commerce Department said.\n    \"The gains in manufacturing employment point to a very\nlarge increase in industrial production of between 0.5 and 0.7\npct,\" said Joe Carson of Chemical Bank. This compares to a 0.4\npct  gain in January U.S. industrial production.\n    Peter Greenbaum of Smith Barney Harris Upham and Co Inc\nnoted that the average wage rate increased to 8.87 dlrs an hour\nin February from 8.83 dlrs in January.\n    \"Combined with the increase in hours worked, this means\nwe\'ll get a pretty healthy gain in personal income vis-a-vis\nthe wage and salary disbursement,\" he said.\n    Greenbaum said that February U.S. personal income should\nrise at least 0.5 pct after being flat in January.\n    He said the February employment gains are consistent with\nhis firm\'s first quarter U.S. real gross national product\ngrowth forecast of 3.7 pct.\n    Economists agreed that the employment data were negative\nfor the credit markets in that they signal a healthier economy\nand no easing in the Federal Reserve\'s monetary policy. But\nmost said that the market need not fear tighter policy either.\n    \"This report is another reason for the Fed to not consider\neasing,\" said Ray Stone of Merrill Lynch Capital Markets Inc.  \n  \"It gives them more room to address the dollar situation,\" he\nsaid. \"If they had to nudge policy tighter, they could do so,\nbut it\'s most likely they\'ll sit and wait.\"\n    \"The data have not been uniform,\" Stone added. \"Durable\ngoods were weak in January and now employment is strong.\"\n    In January, U.S. durable goods orders dropped 7.5 pct,\nfollowed by a 4.0 pct drop in U.S. factory goods orders. U.S.\nretail sales fell 5.8 pct, and the U.S. merchandise trade gap\nwidened to 14.8 billion dlrs.\n    \"Things just aren\'t adding up,\" said Steve Slifer of Lehman\nGoverment Securities Inc. \"Consumer spending, capital spending,\ngoverment spending, and net exports data show very weak first\nquarter GNP growth of one pct,\" he said.\n    \"The employment and production data point to a big\ninventory build-up, but that\'s what we thought in the fourth\nquarter and we only got 1.3 pct GNP growth.\"\n    Manufacturing employment gained 50,000 after falling 15,000\nin January. Economists estimated that 30,000 of the gain was\naccounted for by striking workers in the steel and machinery\nindustries returning to work.\n    Even so, some economists said that the manufacturing gains\nhave resulted from an improving trade outlook.\n    Jason Benderly of Goldman, Sachs and Co noted that the U.S.\ntrade picture improved in the fourth quarter as net exports\ngrew at a 20 pct annual rate while the rate of increase in\nimports fell to only six pct, and that it continues to improve\nin the first quarter.\n    \"Not only the official statistics for the fourth quarter,\nbut evidence of a pick up in orders from overseas for paper\nproducts, chemicals, high-tech goods, and capital goods show\nthat trade is improving,\" Benderley said.\n    \"The economy is moving between extremes,\" he said. \"Some\nreports are going to look bad and some good, but first quarter\nGNP is going to grow in the middle at about three pct.\"\n    A 287,000 gain in services employment comprised the greater\npart of February\'s employment gain. Retail services employment\nrose 129,000 in February, compared to a gain of 117,000 in\nJanuary, previously reported at 166,000.\n    Construction employment rose a slim 2,000 in February. But\nthis follows a robust 113,000 gain in January, revised down\nfrom a previously reported 142,000 gain.\n    The U.S. civilian unemployment rate was unchanged in\nFebruary at 6.7 pct. This means the jobless rate has stayed at\n6.7 pct for three consecutive months, the lowest reading since\nMarch 1980, the Commerce Department noted.\n    \"The Federal Reserve has to be pleased with this report,\"\nCarson said. \"This takes away the Fed\'s flexibility to ease,\nbut there\'s no reason to tighten. It\'s way too early for that.\"\n      \n Reuter\n&#3;',0
'AMERICAN STORES CO &lt;ASC> 4TH QTR NET Shr 1.57 dlrs vs 1.60 dlrs\n    Net 55.7 mln vs 56.5 mln\n    Revs 3.7 billion vs 3.6 billion\n    Year\n    Shr 3.79 dlrs vs 4.11 dlrs\n    Net 144.5 vs 154.5 mln\n    Revs 14.0 billion vs 13.9 billion\n    NOTE: 1986 4th qtr and yr per shr amts includes reduction\nof 15 cts per shr for establishment of reorganization reserves.\nTax increase reduced 1986 yr per shr by 26 cts.\n Reuter\n&#3;',0
'BAKER SAYS G-6 PACT JUST A START Treasury Secretary James Baker said\nthe agreement among industrial nations in Paris last month is\nonly a start in Washington\'s drive to intensify economic\ncooperation among leading countries.\n    In a speech to the National Newspaper Association, Baker\nsaid \"the six steps beginning with the Plaza Agreement and\nculminating in the Paris Accord, are only a start.\"\n    He added \"we see our role as a steward of a process in which\nwe sit down with our industrial allies to find ways to promote\nmore balanced international growth.\"\n    The Paris agreements called trade surplus countries to\nstrengthen their growth and on the U.S. to reduce its budget\ndeficit. Under such circumstances, the countries agreed their\ncurrencies were within ranges broadly consistent with economic\nfundamentals.\n    Baker also said he still sees \"ominous\" signs of pressure for\nprotectionist trade legislation \"and this pressure for\nprotectionism is coming from new areas of society.\"\n    But he also said he believed a coalition was forming that\nsupported free trade.\n Reuter\n&#3;',0
'TREASURY\'S BAKER FORECASTS REDUCTION IN JAPANESE TRADE SURPLUS THIS YEAR\n ',0
'TREASURY\'S BAKER SAYS THERE HAS BEEN NO CHANGE IN U.S. POLICY ON DOLLAR\n ',0
'FED NOT EXPECTED TO ACT IN MONEY MARKETS The Federal Reserve is unlikely to\noperate in the U.S. government securities market during its\nusual intervention period this morning, economists said.\n    Fed funds opened comfortably at 5-15/16 pct and remained at\nthat level. Yesterday Fed funds averaged 5.99 pct.\n Reuter\n&#3;',0
'BOSTON BANCORP &lt;SBOS> SETS TWO FOR ONE SPLIT Boston Bancorp said its board declared a\ntwo-for-one stock split, payable March 31, record March 17.\n Reuter\n&#3;',0
'BAKER DENIES CHANGE IN U.S. POLICY ON DOLLAR Treasury Secretary James Baker said\nthere has been no change in U.S. policy on the value of the\ndollar.\n    Baker, when asked if the policy was changed in view of\ncomments yesterday by a senior Commerce Department official who\nsaid he thought the Japanese yen was undervalued against the\ndollar by 10 to 15 pct, replied, \"No.\"\n    Yesterday Robert Ortner, Undersecretary of Commerce for\nEconomic Affairs, said he thought the yen was undervalued but\nsaid that was his personal view.\n    This remark caused the dollar to drop as it appeared to\nconflict with a recent agreement in Paris by the United States\nand five other industrial nations that currency rates were at\nabout the right level to reflect underlying economic\nconditions.\n    Baker, who spoke earlier to the National Newspaper\nAssociation, declined to elaborate on his statement about U.S.\npolicy.\n Reuter\n&#3;',0
' &#2;\nCORRECTION - MACANDREWS AND FORBES HOLDINGS\n    In New York story headlined \"MacAndrews and Forbes Holdings\nbids for Revlon,\" pls read in headline and first paragraph,\n\"MacAndrews and Forbes considers bid for Revlon,\" and in first\nparagraph, \"MacAndrews and Forbes holdings Inc said it is\nconsidering making a proposal.\" (Corrects from \"bids for\nRevlon,\" in headline and \"will offer\"in first paragraph)\n&#3;\n\n',0
'SOME SHIPPING RESTRICTIONS REMAIN ON RHINE Limited shipping restrictions due to high\nwater remain in force on parts of the West German stretch of\nthe Rhine river between the Dutch border and the city of Mainz\nbut most are expected to be lifted this weekend.\n    water authority officials said The restrictions, caused by\nhigh water levels, include speed limits and directives to keep\nto the middle of the river to prevent damage to the river\nbanks. The high water was expected to recede within two days to\nbelow levels at which the restrictions come into force.\n    Traffic was halted briefly late Tuesday night, Wednesday\nand parts of Thursday on stretches of the Rhine between Bonn\nand Koblenz but the shipping bans were lifted, the officials\nsaid. Shipping is now permitted on all parts of the West German\nsection of the Rhine, with restrictions in some areas.\n Reuter\n&#3;',0
'HAWKER SIDDELEY OFFER FOR CLAROSTAT &lt;CLR> ENDS &lt;Hawker Siddeley Group PLC>\'s offer of\n74 dlrs a share for all of Clarostat Mfg Co Inc\'s stock was\nscheduled to expire at 2400 EST yesterday.\n    Company officials were unavailable for comment as to why\nthe American Stock Exchange had stopped trading in Clarostat\'s\nstock for a pending news announcement.\n Reuter\n&#3;',0
'TAFT &lt;TFB> GIVEN DEADLINE ON BUYOUT PROPOSAL Narragansett Capital Inc &lt;NARR>\nsaid it and Dudley S. Taft have requested a response from Taft\nBroadcasting Co by March 12.\n    Earlier today, Taft Broadcasting said Taft, the company\'s\nvice chairman, and Narragansett had offered 145 dlrs for each\nof Taft\'s 9.2 mln outstanding shares.\n    The company said the offer is conditioned on approval of\nits board, but a spokesman declined comment on whether or not\nthe board has scheduled a meeting.\n     The Narragansett/Taft group will provide the equity portion\nof the offer by contributing at least 125 mln dlrs in cash and\nTaft Broadcasting common, Narragansett said.\n    It said the group has been advised by First Boston Inc\'s\n&lt;FBC> First Boston Corp that the investment banker is \"highly\nconfident that financing for the acquisition can be\nconsummated.\"\n    Narragansett said the offer is subject to negotiation of a\ndefinitive merger agreement and definitive financing agreements\nas well as approval by regulators, Taft\'s board and Taft\'s\nstockholders.\n    The Narragansett/Taft group said its letter to Taft\'s board\nstates the group intends to return control over a significant\nportion of the company\'s equity to the Taft family while\nproviding other stockholders with a means of realizing a very\nattractive value for their shares.\n Reuter\n&#3;',0
'&lt;PETER MILLER APPAREL GROUP INC> 3RD QTR LOSS period ended January 31\n    Shr loss 28 cts vs profit seven cts\n    Net loss 931,000 vs profit 7,000\n    Sales 2,303,000 vs 2,006,000\n    Nine mths\n    Shr loss 55 cts vs profit seven cts\n    Net loss 1,619,000 vs profit 185,000\n    Sales 7,684,000 vs 7,059,000\n    Note: per share reflects issue of 600,000 shares in October\n1986.\n Reuter\n&#3;',0
'SANTA FE SOUTHERN &lt;SFX> APPEALS MERGER RULING Santa Fe Southern Pacific Corp said it\nfiled a petition asking the U.S. Interstate Commerce Commission\nto reconsider its earlier rejection of the merger of the\nholding company\'s railroad assets.\n    The ICC had rejected in July the merger of the Santa Fe and\nSouthern Pacific Railroads on the grounds that it would reduce\ncompetition.\n    Santa Fe in its petition outlines an array of\npro-competitive agreements with other railroads which would\npreserve the economic benefits of the merger for the merged\nrailroad and the public.\n    If the commission agrees that public benefits and\ncompetitive enhancements will result, it can vote to reopen the\nmerger case. Interested parties have until March 25 to file\nstatements in response to the supplemental petition.\n Reuter\n&#3;',0
'BAKER SEES LOWER JAPANESE TRADE SURPLUS U.S. Treasury Secretary James Baker\nsaid the Japanese trade surplus would begin to decline this\nyear.\n    He told the National Newspaper Association \"You\'re going to\nsee a reduction in the Japanese trade surplus -- some of it\nthis year\".\n    But he said the reduction would be due principally to the\nexchange rate shifts since the Plaza Agreement, and these\nshifts would take a long time to work their way through the\nsystem.\n Reuter\n&#3;',0
'CINEPLEX ODEON CORP YEAR OPER SHR BASIC 1.04 DLRS VS 77 CTS\n ',0
'MONFORT &lt;MNFT> SOARS ON ACQUISITION AGREEMENT Monfort of Colorado Inc soared 21-1/2\nto 75 in over-the-counter trading, responding to an\nannouncement late yesterday that the firm will be acquired by\nConagra Inc &lt;CAG>.\n    According to a letter of intent signed by both companies,\nConagra will offer 2.5 of its own shares for each of Monfort\'s\n4.3 mln outstanding shares.\n    Conagra fell one to 33 on the New York Stock Exchange.\nMonfort is an integrated beef and lamb producer.\n Reuter\n&#3;',0
'NORDBANKEN TO AUCTION ITS FERMENTA SHARES Sweden\'s &lt;Nordbanken> banking group\nsaid it would sell the 4.2 mln B free shares deposited as loan\ncollateral by Fermenta AB\'s &lt;FRMS.ST> founder and former chief\nexecutive Refaat el-Sayed and it planned to buy them up itself.\n    The bank said the sale - by public auction on March 16 --\nwas because of a debtor\'s inability to repay an overdue loan.\n    The B free shares closed at 16.50 crowns on the bourse\'s\nunofficial list -- down from a peak of 300 in January 1986.\nNordbanken said it did not exclude accepting a suitable bid for\nthe shares although it expected to buy them back itself.\n    The statement said the sale did not represent any\nwithdrawal from Nordbanken\'s undertakings towards the Fermenta\ngroup and that it had been sanctioned by the other main\nshareholders.\n    Nordbanken is Fermenta\'s third largest creditor with loans\nof 155 mln crowns. It was one of the four Swedish banks which\nlast month agreed to advance the group 110 mln crowns to solve\nits immediate liquidity problems. Together with two other main\nshareholders, it also advanced Fermenta an additional 65 mln\ncrowns until a new equity issue could be made.\n    Fermenta is due to hold an extraordinary shareholders\'\nmeeting on Tuesday to approve the planned equity issue.\n    Nordbanken had to make a provision against a 200 mln crown\nloan to el-Sayed in its 1986 results.\n    Fermenta\'s new management originally hoped to raise 160 mln\ncrowns through the new one for four rights issue and an extra\n170 mln from an issue to Nordbanken, another major creditor and\nshareholder &lt;Gotabanken> and the group\'s new majority owner\n&lt;Industrivarden AB>.\n    The share price was to be 20 crowns. But there has been\ndoubt over the plans since the stock fell below this level this\nweek after Fermenta\'s former chairman Kjell Brandstrom said the\ncompany was in a much worse state than he thought.\n REUTER\n&#3;',0
'UNITED INDUSTRIAL CORP &lt;UIC> 4TH QTR LOSS Shr loss 1.27 dlrs vs profit 43 cts\n    Net loss 17.0 mln vs profit 5,667,000\n    Sales 67.8 mln vs 70.1 mln\n    Year\n    Shr loss 69 cts vs profit 2.18 dlrs\n    Net loss 9,174,000 vs profit 29.1 mln\n    Sales 272.5 mln vs 269.4 mln\n    Avg shrs 13.3 mln vs 13.4 mln\n    NOTE: 1986 net includes tax credits of 14.5 mln dlrs in\nquarter and 8,408,000 dlrs in year.\n    1985 year net includes 616,000 dlr loss from discontinued\noperations and 10.6 mln dlr gain on their disposal.\n    1986 net both periods includes 19.1 mln dlr provision for\nfuture losses from several major projects in defense contractor\nsubsidiary.\n    Backlog 310 mln dlrs, up six pct from a year before.\n    Share adjusted for 10 pct stock dividend in February 1987.\n Reuter\n&#3;',0
'&lt;CINEPLEX ODEON CORP> YEAR NET Oper shr basic 1.04 dlrs vs 77 cts\n    Oper shr diluted 89 cts vs 60 cts\n    Oper net 31.6 mln vs 12.5 mln\n    Revs 500.6 mln vs 170.9 mln\n    Avg shrs 29.1 mln vs 14.3 mln\n    Note: 1985 net excludes extraordinary gain of 1,756,000\ndlrs or 12 cts shr basic and eight cts shr diluted.\n    1986 net involves 53-week reporting period to reflect\nchange in yr-end to coincide with calendar yr.\n Reuter\n&#3;',0
'MINE SAFETY APPLIANCES &lt;MNES> TO SELL UNIT Mine Safety Appliances Co said it\nagreed to sell its filter products division to Donaldson Co Inc\n&lt;DCI> for undisclosed terms.\n    It said the filter products unit will be relocated from its\nplant in Pennsylvania to a Donaldson facility in Illinois. It\nsaid it expects a number of the unit\'s 100 employees will be\noffered positions with Donaldson.\n Reuter\n&#3;',0
'PROSPECT GROUP INC &lt;PROSZ> 4TH QTR LOSS Shr loss 10 cts vs loss 50 cts\n    Net loss 1,830,000 vs loss 3,584,000\n    Revs 40.7 mln vs 26.8 mln\n    Avg shrs 19.2 mln vs 7,115,847\n    12 mths \n    Shr profit 10 cts vs loss 91 cts\n    Net profit 1,422,000 vs loss 6,195,000\n    Revs 185.7 mln vs 126.9 mln\n    Avg shrs 14.8 mln vs 6,811,280\n    NOTES: In May 1986 Prospect raised 101,810,0000 dlrs from\nan initial public offering of common stock.\n    The company purchased in March 1986 MidSouth Corp, a\nregional railroad company in Mississippi and Louisiana, which\ncontributed sales of 39.5 mln dlrs and operating income of 16.3\nmln dlrs during first nine months of operation.\n Reuter\n&#3;',0
'FRANCE FUND INC &lt;FRN> SETS INITIAL DIVIDEND France Fund Inc said its board declared\nan initial dividend of 1.12 dlrs per share, payable April six,\nto holders of record March 20.\n    The fund said the dividend represents two cts per share for\nnet investment income realized during 1986 and 1.10 dlrs from\nnet taxable gains realized during the year.\n Reuter\n&#3;',0
'HEINEKEN N.V. &lt;HEIN.AS> 1986 YEAR Pre-tax profit 513.2 mln guilders vs 545.5 mln\n    Net profit 285.3 mln guilders vs 265.4 mln\n    Consolidated net turnover 6.68 billion guilders vs 6.40\nbillion\n    Net profit per 25.00 guilder nominal share 11.11 guilders\nvs 10.33, taking into account one-for-three scrip issue last\nyear\n    Final dividend two guilders vs same, making total 3.50\nguilders vs same\n REUTER\n&#3;',0
'NATIONAL SECURITY INSURANCE CO &lt;NSIC> 4TH QTR Oper shr loss 15 cts vs profit 57 cts\n    Oper net loss 151,000 vs profit 570,000\n    Year\n    Oper shr profit 2.08 dlrs vs loss 12 cts\n    Oper net profit 2,122,000 vs loss 127,000\n    NOTE: Net excludes realized capital loss 19,000 dlrs vs\ngain 896,000 dlrs in quarter and gains 1,646,000 dlrs vs\n1,331,000 dlrs in year.\n    1986 net both periods excludes tax credit 1,288,000 dlrs.\n Reuter\n&#3;',0
'CYPRUS MINERALS &lt;CYPM> NAMED IN SUITS Cyprus Minerals Co said along with about\n40 other companies, it has been named a defendant in 23 product\nliability lawsuits filed in California by individual\ntireworkers aleging injury as a result of exposure to talc and\nother products.\n    It said other suits are expected to be brought.\n    Cyprus, which produces talc, said it has significant\nfactual and legal defenses and substantial insurance coverage\nand does not expect the suits to have a material adverse impact\non its financial condition.\n Reuter\n&#3;',0
'DONALDSON &lt;DCI> TO BUY MINE SAFETY &lt;MNES> UNIT Donaldson Co Inc said it reached an\nagreement to buy the assets of the Filter Products Division of\nMine safety Appliances Co for undisclosed terms.\n    It said Filter Products will operate as part of Donaldson\'s\nIndustrial Group and its manufacturing operations will be\nrelocated to Dixon, Ill., from Evans City, Pa.\n    Donaldson said the acquisition complements its\nmicrofiltration business and internal research and development\nefforts.\n Reuter\n&#3;',0
'ARUNDEL CORP &lt;ARL> 4TH QTR NET Shr 1.73 dlrs vs 1.66 dlrs\n    Net 3,637,000 vs 3,789,000\n    Revs 27.6 mln vs 26.6 mln\n    Year\n    Shr 3.47 dlrs vs 2.34 dlrs\n    Net 7,815,000 vs 5,340,000\n    Revs 94.3 mln vs 81.9 mln\n Reuter\n&#3;',0
'GULF STATES UTILITIES &lt;GSU> GETS QUALIFIED AUDIT Gulf States Utilities Co said\nauditor Coopers and Lybrand has issued a qualified opinion on\n1986 financial statements.\n    Gulf States said the audit opinion satated that without\nsufficient rate increases or funds from other sources, Gulf\nstates may be unable to maintain its financial viability,\nwhich is necessary to permit the realization of its assets and\nthe liquidation of its liabilities in the ordinary course of\nbusiness.\n    IT said it received a similar qualified opinion in 1985.\n Reuter\n&#3;',0
'FED SETS ONE BILLION DLR CUSTOMER REPURCHASE, FED SAYS\n ',0
'MIDMISSISSIPPI RIVER OPENS TODAY FOR SEASON The Mississippi River is now open for\nbarge traffic up to the Twin Cities in Minnesota after repairs\nwere completed and the first barges moved upstream through Lock\nand Dam 20 near Quincy, Ill at 0600 CST today, an Army Corps of\nEngineers spokesman said.\n    About 14 to 15 inches of ice were reported between locks\nthree and four on the upper Mississippi River, but other\nsections were generally free of ice, the spokesman said.\n    Midwestern weather has been so mild that barges probably\ncould have kept loading at Mid-Mississippi River terminals\nthrough the winter, if Lock and Dam 20 had not been scheduled\nfor repairs, he said.\n    The Peoria and La Grange locks on the Illinois River are\nstill scheduled to close July 13, for two months of repairs.\n Reuter\n&#3;',0
'FED SETS ONE BILLION DLR CUSTOMER REPO The Federal Reserve entered the\ngovernment securities market to arrange one billion dlrs of\ncustomer repurchase agreements, a spokesman for the New York\nFed said.\n    Fed funds were trading at 5-15/16 pct at the time of the\nindirect injection of temporary reserves, dealers said.\n Reuter\n&#3;',0
'GERMAN CASH IN CIRCULATION UP AT FEBRUARY\'S CLOSE Cash in circulation in West Germany\nrose by 2.8 billion marks in the last week of February to 121.5\nbillion, a gain of 8.3 pct over the same month last year, the\nBundesbank said.\n    Cash in circulation is one of two components of the West\nGerman money supply which the German central bank is targeting\nto grow between three and six pct this year.\n    Gross currency reserves in the week rose by 200 mln marks\nto 109.5 billion. Foreign liabilities fell 100 mln to 22.9\nbillion, giving a net currency reserves increase of 300 mln to\n86.6 billion.\n    Commercial bank minimum reserve holdings at the Bundesbank\nfell 300 mln marks to 51.9 billion marks at the end of\nFebruary, averaging 51.2 billion over the month.\n    The rediscount debt of the banking system fell 800 mln\nmarks to 55.2 billion marks, the Bundesbank said.\n    Banks made heavy use of the Lombard emergency funding\nfacility to meet month-end payments and borrowed 3.1 billion\nmarks, a rise of 2.9 billion over the week before.\n    The net position of public authorities at the Bundesbank\ndeclined 6.7 billion marks in the last week of February.\n    The federal government drew down 3.8 billion marks of its\nBundesbank cash deposits, which had stood at 4.1 billion in the\nthird week of February, and also borrowed a 1.8 billion in\ncredit from the central bank.\n    Federal states\' deposits fell 1.5 billion marks to 1.3\nbillion and their cash credits dropped 400 mln to 300 mln.\n    The Bundesbank balance sheet total rose around 5.44 billion\nto 222.22 billion marks.\n REUTER\n&#3;',0
'SUN ELECTRIC CORP &lt;SE> 1ST QTR JAN 31 NET Shr profit 15 cts vs loss six cts\n    Net profit 1,051,000 vs loss 381,000\n    Revs 50.8 mln vs 41.8 mln\n    Avg shrs 7,033,00 vs 6,557,000\n    NOTE: 1987 net includes tax credits equal to six cts vs one\ncent in 1986.\n Reuter\n&#3;',0
'ECUADOR SAYS SUSPENDS OIL EXPORTS DUE EARTHQUAKE Ecuador today suspended its crude oil\nexports indefinitely due to an earthquake last night that\ndamaged pumping and crude transport installations, an Energy\nand Mines MInistry statement said.\n    It said the state oil firm Corporacion Estatal Petrolera\nEcuatoriana (CEPE) notified foreign customers that it was\ndeclaring force majeure on its crude exports due to the tremor.\n    Ecuador\"s OPEC oil output quota is 210,000 barrels per day\n(bpd).\n    A senior energy ministry official said that one pumping\nstation at El Salado on Ecuador\'s main pipeline was damaged.\n    He also said an 180 metre section of the pipeline attached\nto the bridge over the Aguarico river collapsed.\n    The pumping station was about 20 km from the Reventador\nvolcano, near the epicentre of the quake, which Ecuadorean\nseismologists said registered six on the 12-point international\nMercalli scale. The Aguarico bridge was also close to the\nvolcano, he said.\n    The quake struck northern Ecaudor and southern Colombia,\naccording to Ecuadorean officials. No injuries were reported.\n REUTER\n&#3;',0
'LEASEWAY TRANSPORTATION CORP &lt;LTC> 4TH QTR LOSS Oper shr loss 39 cts vs profit 62 cts\n    Oper net loss 4,628,000 vs profit 7,256,000\n    Revs 338.1 mln vs 327.9 mln\n    Year\n    Oper shr profit 1.12 dlrs vs profit 1.88 dlrs\n    Oper net profit 13.2 mln vs 22.2 mln\n    Revs 1.32 billion vs 1.29 billion\n    NOTE: Net excludes gains from discontinued leasing\noperations of 37.6 mln dlrs vs 40.3 mln dlrs in year and 32.6\nmln dlrs vs 34.3 mln dlrs in quarter.  Results restated for\ndiscontinued operations.\n    1986 net both periods includes charge 6,300,000 dlrs from\nelimination of investment tax credits.\n Reuter\n&#3;',0
'NCH CORP &lt;NCH> 3RD QTR JAN 31 NET Shr 51 cts vs 44 cts\n    Net 4,710,000 vs 4,086,000\n    Sales 109.2 mln vs 98.2 mln\n    Nine mths\n    Shr 1.62 dlrs vs 1.39 dlrs\n    Net 15.0 mln vs 13.6 mln\n    Sales 314.6 mln vs 279.7 mln\n Reuter\n&#3;',0
'NATIONWIDE HAD 1986 PROPERTY-CASUALTY LOSS &lt;Nationwide Mutual Insurance Co>\nsaid its property-casualty companies had a net loss of 56 mln\ndlrs last year while its life insurance operations earned 66.8\nmln dlrs.\n    Nationwide said its property-casualty group, the\nfourth-largest U.S. property-casualty insurer had a 106 mln dlr\nloss in 1986. Nationwide Life Insurance Co earned 62.8 mln dlrs\nin 1985, with last year\'s profit including record capital gains\nof 14.4 mln dlrs, up from gains of 2.6 mln dlrs the previous\nyear.\n    The company said its property-casualty group had a record\nloss from insurance operations last year of 859 mln dlrs after\npolicyholders\' dividends, up 25 pct from 1985\'s 710 mln dlrs.\n    Nationwide said a surge in claims from personal auto\ninsurance and the volatile commercial liability coverages\nduring a period of unprecedented sales growth generated the\nloss.\n    The company said over 576 mln dlrs of last year\'s group\nlosses came from commercial insurance lines and 282 mln dlrs\nfrom its personal auto insurance business.\n    Partially offsetting 1986\'s record insurance losses,\nNationwide said, were record investment gains of 775 mln dlrs\nand a 28 mln dlr federal tax credit. The investment gains were\nup 39 pct from 1985\'s gains of 559 mln dlrs.\n Reuter\n&#3;',0
'SUN &lt;SUN> RAISES HEATING OIL BARGE PRICE Sun Co\'s Sun Refining and Marketing\nsubsidiary said it increased the price it charges contract\nbarge customers for heating oil in New York harbor 0.50 cent a\ngallon, effective today.\n    They said the 0.50 cent increase brings Sun\'s contract\nbarge price to 49 cts. The recent price hike represents the\nfifth this week, totalling 4.75 cts. The increases are\nfollowing sharp spot and futures price rises, the company said.\n Reuter\n&#3;',0
'FRENCH PRIMARY BOND MARKET SHOWS NEW SPARKLE The French primary bond market is showing\nsigns of renewed effervescence after several weeks of lethargy\nand the trend is expected to continue if hopes of imminent\ninterest rate cuts are fulfilled, market operators said.\n    The Bank of France is generally expected to give a signal\nto the market, possibly at the beginning of next week, by\nannouncing a quarter point cut in its intervention rate, which\nhas stood at eight pct since January 2, or in its seven-day\nrepurchase rate, set at 8-3/4 pct since January 5.\n    The central bank\'s averaged-out day to day call money rate,\nthe reference rate for interbank money market operators, which\nreached 8-3/4 pct on February 18 has fallen to 7-3/4 pct this\nweek, dealers noted.\n    The Bank of France\'s \"open market\" policy to regulate the\nmoney markets since December has been based on a floor and\nceiling of rates within the limits of its intervention and\nseven day repurchase rates.\n    For the moment the sentiment is of \"wait and see\" on rate\ncuts, but there are now more optimists than pessimists among\nmarket operators, a dealer for a major French bank said.\n    Dealers said there is abundant liquidity on the bond\nmarket, noting that this week\'s monthly Treasury tap issue of\n11.87 billion francs had a good reception and was fairly easily\nabsorbed.\n    The Treasury had set an upper limit on the issue of 12\nbillion francs and was likely to continue to try and sell as\nmuch paper as it could over coming months to meet its borrowing\nneeds for this year of around 150 billion, one banker said.\n    Dealers said there was no difficulty in placing liquidity\nin the primary market at the moment despite competition from\nthe surge in investments on the Paris stock exchange.\n    There has been a flood of large bond issues, but with\nformulas well adapted to market conditions and investor demand\n- with warrants or a mix of fixed and floating-rates - which\nhave been snapped up, and with generally broadly negative fees.\n    Dealers pointed to the recent Caisse d\'Aide a l\'Equipement\ndes Collectivites Locales (CAECL) 8.90 pct two billion franc\nbond with warrants exchangeable for floating-rate bonds issued\nover 13 years and 80 days at 97.04 pct with payment date March\n9, which was today quoted at -0.90 to -1.10 pct.\n    Even classic fixed-rate issues, after being neglected since\nthe end of last year, are finding buyers, one banker said.\n    Dealers said that now the question was to see how the terms\nof imminent operations would be set, with great market interest\nfocussed on the likely three next issues.\n    These will include an expected four to five billion franc\nissue for Electricite de France, to be followed by a bond of\naround one billion francs for Auxiliaire du Credit Foncier, a\nsubsidiary of the banking group Credit Foncier de France, and a\nnew issue by tender from the mortgage agency Caisse de\nRefinancement Hypothecaire.\n REUTER\n&#3;',0
'FIRST WOMEN\'S BANK INVESTOR GROUP OFFER EXPIRES The investor group owning about 42 pct\nof the outstanding capital stock of &lt;The First Women\'s Bank>\nsaid a cash tender offer for the bank\'s remaining outstanding\nshares at 11 dlrs per share expired on March three.\n    The investors said about 132,000 shares, or about 20 pct of\nthe outstanding, had been tendered.\n Reuter\n&#3;',0
'COMPUTER MEMORIES INC &lt;CMIN> 3RD QTR LOSS Period ended December 31.\n    Shr loss nine cts vs loss 1.92 dlrs\n    Net loss 950,000 vs loss 21,334,000\n    Revs 580,000 vs 22.2 mln\n    Nine Mths\n    Shr loss six cts vs loss 1.23 dlrs\n    Net loss 694,000 vs loss 13,710,000\n    Revs 5,129,000 vs 111.9 mln\n    Note: Current qtr includes tax loss of 118,000 vs loss of\n476,000 dlrs.\n Reuter\n&#3;',0
'TRENWICK GROUP INC &lt;TREN> 4TH QTR NET Oper shr profit 18 cts vs loss four cts\n    Oper net profit 1,847,000 vs loss 282,000\n    Revs 25.9 mln dlrs vs 8,626,000 drs\n    12 mths\n    Oper shr profit 39 cts vs loss 24 cts\n    Oper net profit 3,262,000 vs loss 1,555,000\n    revs 67.5 mln vs 27.9 mln dlrs.\n    NOTE: 1986 qtr and year excludes investment gains of\n1,541,000 and 1,865,000, respectively, and 1985 qtr and year\nincludes investment gains of 301,000 dlrs and 1,424,000.\n Reuter\n&#3;',0
'IMF URGES BELGIUM TO MAKE FURTHER SPENDING CUTS The Belgian government, which\nintroduced large-scale public spending reductions last year,\nhas been told by an International Monetary Fund team there is\nscope for further cuts in 1988.\n    The suggestion is contained in the preliminary conclusions\nof the annual IMF consultations with Belgium on its economic\npolicy, a copy of which was distributed to journalists at the\nweekly press conference following meetings of the cabinet.\n    The IMF team also urges Belgium to adopt a firm interest\nrate policy, with a particular emphasis on long-term rates.\n    The team\'s report to the government praises last year\'s\nspending cuts, which are due to reduce 1987 government spending\nby 195 billion francs, and says 1986 saw the Belgian economy\nperform \"better, on a broader basis, than at any time so far in\nthe 1980s.\"\n    However, it adds that with lower inflation, stabilisation\nof the debt to gross national product ratio requires a much\nlower budget deficit than the seven pct of GNP target the\ngovernment has set itself for 1989.\n    The government\'s net financing requirement was 11.0 pct of\nGNP in 1986.\n    The report says \"The most that can be afforded over the next\nfew years is a zero growth of real non-interest expenditure of\ngeneral Government.\"\n    It says there is a need for a revision of the Belgian tax\nsystem to iron out distortions and meet hopes of a reduced tax\nburden but substantial progress is needed in stabilising the\ndebt to GNP ratio before this is possible.\n    \"Because of the difficulty of sustaining zero expenditure\ngrowth and of likely growing impatience (for) tax reductions,\nwe feel that your position would be stronger if you could\ndecide on rather sharp expenditure reductions in 1988,\" the\nreport adds.\n    The IMF urges a strong interest rate policy to signal the\ngovernment\'s determination to keep its currency strong and to\ncurb inflation.\n    It says firmer long-term rates would slow private net\nlong-term capital outflows, which increased strongly in 1986.\n    It also urges net repayments of foreign currency debt and\nan overhaul of domestic capital markets to facilitate the\nsubscriptions by non-residents of government bond issues in\nBelgian francs.\n REUTER\n&#3;',0
'BUSH &lt;BSH> REVISES 4TH QTR, YEAR RESULTS UP Bush Industries Inc said that\nafter an audit it has revised upwards its 1986 fourth quarter\nand year end results. On February 12 it reported unaudited\nresults.\n    Under the audited amounts, 1986 fourth quarter income was\n1,098,978 mln dlrs, or 55 cts a share. The unaudited income for\nthe period was 1,014,000, or 51 cts per share.\n    For the year, the audited amounts showed earnings of\n2,505,978, or 1.25 dlrs per share. The prior results reported\nincome of 2,421,000, or 1.21 dlrs per share. Sales figures for\nboth periods did not differ significantly from prior amounts.\n Reuter\n&#3;',0
'FURNITURE (UFURF) UPS BENCH CRAFT (SOFA) STAKE Universal Furniture Ltd said in a\nfiling with the Securities and Exchange Commission that it had\nincreased its stake in Bench Craft Inc common stock to\n2,548,975 shares or 45.3 pct of the total outstanding.\n    Universal said its Universal Furniture Industries N.V. unit\nbought 235,750 Bench Craft shares March 4 in the\nover-the-counter market.\n Reuter\n&#3;',0
'CLEVITE INDUSTRIES INC &lt;CLEV> 4TH QTR OPER LOSS Oper net loss 411,000 vs profit 875,000\n    Sales 69.7 mln vs 70.5 mln\n    Year\n    Oper net profit 6,258,000 vs profit 4,785,000\n    Sales 299.5 mln vs 297.2 mln\n    Note: Company made initial public offering in June, 1986.\nAssuming the offering had occurred on Jan. 1, 1986, operating\nnet income per share would have been 85 cts a share for 1986.\n    1986 oper net excludes one-time charge of 16.8 mln dlrs, or\n2.46 dlrs a share, in qtr and year due to the February 1987\nsale of the company\'s engine parts division. Oper net for 1986\nyear also includes profit from discontinued operations of\n360,000 dlrs, or five cts a share.\n    Oper net for 1986 excludes extraordinary loss of 1.1 mln\ndlrs, or 17 cts a share, due to the June 1986 write-off of\nunamortized debt issue costs from the public offering. 1985\noper net excludes extraordinary profit of 1.1 mln dlrs.\n Reuter\n&#3;',0
'CMS ADVERTISING SETS 3-FOR-2 STOCK SPLIT &lt;CMS Advertising Inc> said its\nboard has approved a three-for-two stock split in the form of a\ndividend payable March 30 to holders of record March 16.\n    The company said a similar split was paid December eight,\nleaving it with 2,344,200 shares outstanding.\n    CMS Advertising said the next split will result in a\nproportionate reduction in the exercise price of its stock\npurchase warrants to 1.67 dlrs a share from 2.50 dlrs.\n Reuter\n&#3;',0
'CIE FINANCIERE DE PARIBAS &lt;PARI.PA> 1986 YEAR Parent company net profit 385 mln francs vs 226.9 mln\n    Dividend five francs vs no comparison\n    Note - The financial and banking group was privatised by\nthe government in January this year.\n Reuter\n&#3;',0
' &#2;\nCORRECTION - HEINEKEN 1986 YEAR\n    In item headlined \"HEINEKEN N.V. &lt;HEIN.AS> 1986 YEAR\" please\nread in first line pre-tax profit 513.2 mln guilders vs 454.5\nmln.\n    Corrects year ago comparison to 454.5 mln from 545.5 mln.\n Reuter\n&#3;\n\n',0
'BANK OF ENGLAND PRESSURE HOLDS BASE RATES This week\'s Bank of England resistance to\nstrong market pressure for lower interest rates succeeded in\nholding bank base rates at 11 pct.\n    But at a cost of threatening the Chancellor of the\nExchequer Nigel Lawson\'s policy, stated at the end of the Paris\nGroup of Six meeting last month, that he wanted to see sterling\nbroadly stable about then prevailing levels, market sources\nsaid.\n    Since then, the pound has risen to 71.8 pct on its closing\ntrade-weighted index, up from 69.7 pct imediately after the\nParis meeting and up 0.4 on the day.\n    Today\'s peak at 72.0 pct was its highest since August 19.\n    A Treasury spokesman said Lawson had said he neither wanted\na substantial rise or fall in sterling. The question is\ntherefore how large a rise he is ready to see before acting.\n    Paul Temperton, chief economist at Merrill Lynch Europe\nLtd, estimated that the government wanted to see the\ntrade-weighted index about 72-73 pct. \"Even after this action\nover the last few weeks, sterling\'s only just within striking\ndistance of that range,\" he said.\n    Other analysts agree that the government probably has some\nbroad target range around this area.\n    However, they said Lawson would be prepared to see the\npound go higher at least in the short term, despite the risk of\na loss of export competitiveness and cheaper prices on imports.\n    \"If the Bank of England keeps the interest rates as they\nare, what\'s to stop it (going higher),\" said John Cox, executive\ndirector of EBC Amro Bank Ltd, a major operator on the London\nforeign exchange market.\n    Cox estimates that the Bank of England has been active\nselling sterling over the past few days, despite the lack of\ngeneral market talk of such intervention, and this has helped\nkeep it below 1.60 dlrs.\n    The pound rose to 1.5870 dlrs from 1.5764 yesterday and\n1.5400 February 23, the day after the Paris meeting.\n    But Cox says the government must be worried with sterling\nheading toward 2.95 marks and would be very concerned if it\nholds around these levels.\n    He warned the Bank may run the risk of missing the interest\nrate boat. \"If rates don\'t come down, the market will say they\nought to have come down and will sell sterling,\" he said.\n    Most dealers agree there is a good deal of \"hot money\" being\ninvested in sterling, money simply attracted by high overnight\nor one-week rates, which could flow out at equally short\nnotice.\n    However, the authorities will hope that at least a\nproportion of the buying reflects long-term investment.\n    \"The last thing they want to do is reduce them (rates) and\nhave to jack them back up again,\" said Richard Jeffrey,\neconomist at brokerage house Hoare Govett Ltd.\n    He said a half point cut would ensure continued support for\nsterling, at least in the near term.\n    However, most analysts are still looking for a full point\nabout March 17, Budget Day.\n    The Bank must hold out until it sees the reaction to the\nBudget, said Temperton.\n    The Budget is widely forecast to be a vote winner in the\nrun-up to a general election, the major factor behind current\nbullishness in the government bond and currency markets.\n    \"Lawson wants to delay a cut in base rates until the budget.\nHe wants it to be crowned with the glory of an interest rate\ncut,\" said Ian Harwood, economist at Warburg Securities, the\nequities arm of Mercury International Group.\n    Speculation a clearing bank might break ranks and lead the\nway lower were confounded today. There was excitement a fall in\nthe weekly Treasury Bill rate to 9.7 pct from 10.2 pct last\nFriday might mean the Bank had changed its mind.\n    This followed the imposition of penal lending rates of 11\n3/4 pct on the discount houses yesterday, and was the lowest\nsince base rates were at 10 pct, early last October.\n    However, with this Bill rate pertaining to three-months\nmoney, banking sources said the market could not take the cut\nas a guide to the Bank\'s intentions on short term rates.\n REUTER\n&#3;',0
'LYNG DISAPPOINTED BY CANADA CORN INJURY DECISION U.S. Agriculture Secretary Richard\nLyng said he is \"very disappointed\" by a Canadian government\nfinding that U.S. corn has injured Ontario Corn growers.\n    \"This action is not helpful in the context of the ongoing\nU.S.-Canada free trade talks or in the new round of\nmultilateral trade negotiations,\" Lyng said in a statement.\n    The Canadian government today said Ottawa would continue to\napply a duty of 84.9 cents per bushel on U.S. corn imports.\n    Lyng said the U.S. made a case that U.S. corn imports are\nnot the cause of any problem of Canadian corn producers, adding\nthat U.S. corn exports to Canada are declining.\n    \"Apparently they (Canada) have ignored the fact that\nCanadian corn and other coarse grain production is rising\nfaster than consumption,\" Lyng said.\n Reuter\n&#3;',1
'BANCROFT &lt;BCV> SHAREHOLDERS REBUKE ZICO OFFER Bancroft Convertible Fund Inc, the\ntarget of an unfriendly cash offer by &lt;Zico Investment Holdings\nInc>, said its shareholders approved proposals requiring a\n66-2/3 pct affirmative vote of all outstanding shares before\nfundamental changes in its status could be made.\n    Previously, only a simple majority of outstanding shares\nwas needed to change Bancroft\'s investment status from a\ndiversified to a non-diversified fund, among other things.\n    Bancroft said its board continues to recommend that\nstockholders not tender their shares to Zico, a British Virgin\nIslands company which it said had ties to South Africa.\n Reuter\n&#3;',0
'INT\'L TOTALIZATOR &lt;ITSI> SEES BETTER 1ST QTR International Totalizator Systems Inc\nVice President of Finance Joel Graff said he expects to report\nan improved first quarter compared to the 377,000 dlr loss\nreported in the year ago quarter.\n    \"A profit looks quite favorable,\" Graff said.\n    Last week, the automated ticket systems supplier reported a\nloss of 1.2 mln dlrs for the 1986.\n    Graff said \"we invested heavily in 1986, which we believe\nwill result in higher future growth and earnings for the\ncompany.\"\n Reuter\n&#3;',0
'BOC GROUP COMPLETES SALE OF UNIT TO CONTROLS &lt;BOC Group Inc>\'s Airco\nDistributor Gases finalized the sale of its Virginia-based gas\nappaturs business to &lt;Controls Corp of America>, a newly formed\ninvestment group organized by former Airco employees.\n    Under the terms of the sale, Airco said Controls will\ncontinue to make the gas apparaturs product line under the\nAirco brand name, marketing the products exclusively through\nthe Airco\'s distributor network.\n Reuter\n&#3;',0
'U.S. WHEAT GROWERS WANT EEP TO SOVIET UNION The U.S. National Association of\nWheat Growers (NAWG) urged the Reagan administration offer the\nSoviet Union wheat under the export enhancement program (eep).\n    In a letter to Agriculture Secretary Richard Lyng, NAWG\nstated its \"strong support\" for an eep offer to Moscow.\n    \"We believe that a solid case continues to exist for Soviet\nEEP eligibility, and the recently announced and reported Soviet\npurchases of U.S. corn indicate a Soviet willingness to\npurchase U.S. grain if it is competitively priced,\" NAWG said.\n    \"Consequently, we believe it is important to renew the U.S.\neep offer and do all that is reasonably possible to ensure\nmutual adherence to the terms of the U.S.-Soviet grain\nagreement,\" the letter said.\n Reuter\n&#3;',1
'ABN SAYS PROFIT RISE ENCOURAGING IN VIEW DOLLAR Algemene Bank Nederland N.V. &lt;ABNN.AS>\nchairman Robertus Hazelhoff said the bank\'s 10.3 pct increase\nin net 1986 profit to 527 mln guilders from 478 mln in 1985 was\nencouraging in view of the sharply lower dollar.\n    Hazelhoff, speaking at a press conference after the release\nof ABN\'s 1986 results, said a sharp decrease in foreign\nearnings had been compensated by a strong domestic performance,\nnotably in the securities business.\n    He said the bank was also proposing a one for 10\nshare-split which should facilitate trade in the bank\'s stock.\n    News of the split sparked a 14 guilder rise in ABN\'s share\nprice on the Amsterdam bourse to a close of 517 guilders.\n    Prospects for 1987 hung on three uncertainties, namely the\nfuture trend of the dollar, the level of interest rates and\nABN\'s share of equities trade, Hazelhoff said.\n    Provisions for general contingencies were reduced in 1986\nby 4.1 pct to 575 mln guilders, while taxes increased by 2.1\npct to 242 mln guilders, he added.\n    Lower global interest rates in 1986 had nipped earnings\nmargins via traditional lending activities, he said.\n    Hazelhoff said ABN was unlikely to continue reducing risk\nprovisions in the future but he noted the bank was not overly\nconcerned about default by Latin American debtors, a factor\nwhich brokers say has distanced Dutch insititutions from bank\nstocks recently.\n    He said that of the bank\'s estimated 25 financially\ntroubled sovereign debtors, about one quarter were Latin\nAmerican countries. These would ultimately pay up, he said.\n    He added that losses incurred through loans to tin\nproducers in the wake of the tin council crisis at end-1985 had\nbeen written off.\n REUTER\n&#3;',0
'CANADIAN MONEY SUPPLY M-1 RISES 217 MLN DLRS IN WEEK, BANK OF CANADA SAID\n ',0
'CANADIAN MONEY SUPPLY RISES IN WEEK Canadian narrowly-defined money supply\nM-1 rose 217 mln dlrs to 32.80 billion dlrs in week ended\nFebruary 25, Bank of Canada said.\n    M-1-A, which is M-1 plus daily interest chequable and\nnon-personal deposits, rose 556 mln dlrs to 75.19 billion dlrs\nand M-2, which is M-1-A plus other notice and personal\nfixed-term deposit rose 651 mln dlrs to 176.87 billion dlrs.s\n    M-3, which is non-personal fixed term deposits and foreign\ncurrency deposits of residents booked at chartered banks in\nCanada, rose 992 mln dlrs to 216.03 billion dlrs.\n    Chartered bank general loans outstanding rose 481 mln dlrs\nto 124.99 billion dlrs.\n    Canadian liquid plus short term assets fell 854 mln dlrs to\n35.40 billion dlrs and total Canadian dollar major assets of\nthe chartered banks fell 118 mln dlrs to 221.20 billion dlrs.\n    Chartered bank net foreign currency assets fell 23 mln dlrs\nto minus 1.92 billion dlrs.\n    Notes in circulation totalled 16.24 billion dlrs, up 76 mln\ndlrs from the week before.\n    Government cash balances fell 565 mln dlrs to 4.31 billion\ndlrs in week ended March 4.\n    Government securities outstanding rose 1.25 billion dlrs to\n224.09 billion dlrs in week ended March 4, treasury bills rose\n950 mln dlrs to 74.55 billion dlrs and Canada Savings Bonds\nfell 57 mln dlrs to 44.34 billion dlrs.\n Reuter\n&#3;',0
'FRENCH GOVERNMENT TO STEP UP AID TO JOBLESS The government plans to go ahead with a\nthree billion franc package to help the long-term unemployed,\nwith the aim of guaranteeing social security payments to\neveryone becoming redundant, government officials said.\n    At present only about one-third of the country\'s 2.6 mln\njobless, corresponding to 10.9 pct of the workforce, receive\nunemployment benefit.\n    Prime Minister Jacques Chirac told a television\ninterviewer, \"As soon as the law is approved, and it will be in\na matter of weeks, all workers made redundant will have the\nright to social benefits.\"\n    The money, which will be used to alleviate unemployment\nthrough retraining or project finance, will come from a 7.5\nbillion franc government fund set up last month to finance\nspending on special areas of concern.\n    Apart from unemployment, these include relief to farmers\nhit by European Community cost-cutting measures.\n    French unemployment has risen by more than 40 pct from 1.8\nmln when socialist President Francois Mitterrand took office in\n1981.\n REUTER\n&#3;',0
'USSR WHEAT BONUS OFFER SAID STILL UNDER DEBATE The Reagan administration continues\nto debate whether to offer subsidized wheat to the Soviet\nUnion, but would need assurances from the Soviets that they\nwould buy the wheat before the subsidy offer would be made, a\nsenior U.S. Agriculture Department official said.\n    \"I think it still is under active debate whether or not it\nwould be advisable\" to make an the export enhancement offer to\nthe Soviets, Thomas Kay, administrator of the department\'s\nForeign Agriculture Service, told Reuters.\n    \"We\'d need some assurances from them (the Soviets) that they\nwould buy if offered\" the wheat under the subsidy plan, he said.\nKay called reports that such an offer was imminent \"premature.\"\n    The Reagan administration\'s cabinet-level Economic Policy\nCouncil is set to meet today to discuss, among other matters,\nagricultural policy but is not expected to address a wheat\nsubsidy offer to the Soviet Union, administration officials\nsaid earlier.\n Reuter\n&#3;',1
'SUN ELECTRIC CORP &lt;SE> 1ST QTR JAN 31 OPER NET Oper shr profit nine cts vs loss seven cts\n    Oper net profit 628,000 vs loss 491,000\n    Sales 50.7 mln vs 41.8 mln\n    Avg shrs 7,033,000 vs 6,557,000\n    Note: Oper net excludes extraordinary profit of 423,000\ndlrs, or six cts a shr, and 110,000 dlrs, or one ct a share,\nrespectively, in 1987 and 1986 quarters, from utilization of\ntax loss carryforwards.\n Reuter\n&#3;',0
'CANADA CORN DECISION UNJUSTIFIED - YEUTTER U.S. trade representative Clayton\nYeutter said Canada\'s finding announced today that U.S. corn\nimports injure Canadian farmers is \"totally unjustified.\"\n    \"U.S. corn exports to Canada are so small that it is\ninconceivable that they injure Canadian corn farmers by any\nreasonable measure,\" Yeutter said in a statement.\n    He said if other countries follow Canada\'s lead it could\nresult in \"a rash of protectionist actions throughout the\nworld.\" French corn growers have recently indicated they will\nchallenge U.S. corn gluten feed shipments to Europe.\n    Yeutter said the U.S. will examine the Canadian decision\nclosely and if the U.S. believes the decision was not based on\nfacts, \"will carefully evaluate appropriate responses.\" Yeutter\ndid not say what steps the U.S. may take in response.\n Reuter\n&#3;',1
'CETEC CORP &lt;CEC> 4TH QTR NET Oper shr two cts vs eight cts\n    Oper net 41,000 vs 153,000\n    Sales 7,456,000 vs 7,965,000\n    Year\n    Oper shr 22 cts vs 50 cts\n    Oper net 434,000 vs 1,103,000\n    Sales 31 mln vs 33.6 mln\n    Note: Current qtr and year figures exclude loss from\ndiscontinued operations of 384,000 dlrs, or 20 cts per share.\n    Prior qtr and year figures exclude losses from discontinued\noperations of 1.9 mln dlrs, or 88 cts per share and 2.3 mln\ndlrs, or 1.07 dlrs per share, respectively.\n Reuter\n&#3;',0
'RICHTON INTERNATIONAL CORP &lt;RIHL> 3RD QTR JAN 31 Shr 18 cts vs 39 cts\n    Net 507,000 vs 762,000\n    Sales 11.3 mln vs 11.7 mln\n    Avg shrs 2,789,000 vs 1,961,000\n    Nine mths\n    Shr 39 cts vs 90 cts\n    Net 1,076,000 vs 1,752,000\n    Sales 32.9 mln vs 33.3 mln\n    Avg shrs 2,771,000 vs 1,955,000\n Reuter\n&#3;',0
'VALTEK INC &lt;VALT> 3RD QTR JAN 31 NET Shr 18 cts vs 19 cts\n    Net 400,413 vs 421,451\n    Revs 9,343,228 vs 8,213,449\n    Nine mths\n    Shr 39 cts vs 46 cts\n    Net 853,891 vs 1,011,999\n    Revs 24.6 mln vs 22.3 mln\n Reuter\n&#3;',0
'THE WRITER CORP &lt;WRTC> 4TH QTR LOSS Shr loss 30 cts vs profit 11 cts\n    Net loss 1,247,000 vs profit 454,000\n    Revs 12.3 mln vs 17.5 mln\n    Year\n    Shr loss 24 cts vs profit 32 cts\n    Net loss 979,000 vs profit 1,303,000\n    Revs 60.6 mln vs 61.7 mln\n Reuter\n&#3;',0
'ROCKY MOUNTAIN MEDICAL CORP &lt;RMEDU> 1ST QTR LOSS Dec 31\n    Shr loss one ct\n    Net loss 176,639\n    Revs 150,300\n    NOTE: Company went public in April 1986.\n Reuter\n&#3;',0
'FIRST AMERICAN BANK AND TRUST &lt;FIAMA> YEAR NET Shr 91 cts vs 1.25 dlrs\n    Net 8,710,000 vs 11.7 mln\n    Avg shrs 9,526,287 vs 9,362,379\n    NOTE: Share adjusted for 10 pct stock dividend in May 1986.\n    Net includes loan loss provisions of 12.7 mln dlrs vs\n2,400,000 dlrs.\n Reuter\n&#3;',0
'INDIA AGAIN IN MARKET FOR SUGAR - TRADE India has called a fresh buying tender\nfor up to four 13,000 tonne cargoes of white sugar on March 11,\ntraders here said.\n    The tender calls for one cargo of prompt sugar and two to\nthree with March/April shipment sugar, or the same as the eight\ncargoes bought at a tender two days ago. That tender originally\nonly sought two to three cargoes but resulted in the sale of\neight. India also granted the sellers options to sell twice\nthat amount at the same price but for April/May shipment.\n    Depending on prices, traders said it would be likely for\nIndia again to buy more than the tonnage formally sought.\n Reuter\n&#3;',0
'&lt;WARRANTECH CORP> 3RD QTR DEC 31 NET Shr profit nil vs loss nil\n    Net profit 28,565 vs loss 204,553\n    Revs 507,529 vs 6,563\n    Nine mths\n    Shr loss nil vs loss nil\n    Net loss 404,011 vs loss 649,495\n    Revs 938,345 vs 32,535\n Reuter\n&#3;',0
'PIONEER GROUP &lt;PIOG> UNIT GETS MORE LAND The Pioneer Group Inc said its 70\npct-owned Teberebie Goldfields Ltd venture has been granted an\nadditional concession of land in Ghana to look for and mine\ngold.\n    The State Gold Mining Corp of Ghana granted the venture an\nadditional 14.5 square kilometers in Teberebie, Ghana,\ncontiguous to 11.5 square kilometers granted earlier, the\ncompany said.\n    The original concession appears to have a substantial\namount of gold bearing material containing about 2 grams, or\n6/100 ounces, of gold per metric ton.\n    But the venture has no firm estimates on the costs of\nextracting the gold and no assurances can be given that the\nreserves can be mined profitably, the company said.\n    It said Teberebie Goldfields has not conducted tests on the\nnewly granted land but added the land seems to be similar in\ngeological characteristics to the original land.\n Reuter\n&#3;',0
'INSITUFORM &lt;IGLSF> RAISES STAKE IN UNIT Insituform Group Ltd of Guernsey,\nChannel Islands, said it has exercised an option to convert a\n250,000 stg loan to affiliate Insituform Permaline Ltd to\ncommon shares, raising its stake in the unit to 75 pct from 50\npct.\n    The remainder is held by Permaline\'s management and an\ninvestment group.\n    Insituform also said James Colclough has resigned from its\nboard for health reasons and secretary Scott Saltpeter has\nresigned, effective June Five.\n Reuter\n&#3;',0
'COPPER MEETING AGREES GOALS OF STUDY GROUP The world\'s major copper producing and\nconsuming countries have reached \"a degree of consensus\" on\nobjectives and functions of a future study group aimed at\nreviewing the world copper market, officials said.\n    Governments represented at a meeting to consider a proposed\nforum for copper have recommended that another session be held\nin September to consider further the nature of such a group, a\nspokesman for the United Nations Conference on Trade and\nDevelopment (UNCTAD) said.\n    The one-week meeting, which ended today, was held to\nexamine a U.S. Initiative to set up a copper study group.\n    The new body would not aim at negotiating measures to\nstabilise depressed world prices.\n    Its objectives would include increasing market\ntransparency, through improved statistics, and undertaking\nactivities aimed at developing the copper market and\ncontributing to improvement of demand.\n    UNCTAD\'s spokesman said, \"Once they have agreed on detailed\nfunctions and objectives, then the way will be cleared to\nsetting up the body.\"\n Reuter\n&#3;',0
'LIFFE FEBRUARY VOLUMES DOWN, BUT EURODOLLARS UP Total futures and options turnover on the\nLondon International Financial Futures Exchange (LIFFE) fell\nslightly during February, although daily average Eurodollar\nvolume set a new record, LIFFE said today.\n    Total futures and options turnover last month was 822,378\ncontracts, down from January\'s 881,778, but sharply above the\ncomparative February 1986 figure of 463,146 lots, it said.\n    Eurodollar turnover during February was 140,417 lots,\nagainst January\'s 100,941 and the year ago figure of 81,648.\nThe daily average was a record 7,020 lots, up four pct from the\nprevious record, set in March 1985.\n    February trading encompassed a new daily record of 66,087\ncontracts on the 19th of the month, exceeding the previous\nrecord of 61,398, which had been set on February 6, LIFFE said.\n    FT-SE 100 index futures volume was sharply higher during\nFebruary, with 22,109 contracts trading, against January\'s\n15,279 and the year-ago level of 8,181.\n    Open interest also set new records last month in\nEurodollars at 29,372 contracts, in FT-SE 100 at 4,898 and in\nshort sterling interest rate futures at 19,846 lots.\n    Key futures volumes as detailed by LIFFE were:\n                 Feb\'87   Jan\'87    Feb\'86\n Long gilt      424,865  525,354   134,420\n Eurodollar     140,417  100,941    81,648\n Short sterling  94,720   87,619    67,640\n T-bond          84,694   87,980   133,766\n FT-SE           22,109   15,279     8,181\n Currencies       2,799    2,112     7,737\n Short gilt          74       85     6,516\n    Key options volumes as detailed by LIFFE were:\n              Feb\'87    Jan\'87     Feb\'86\n Long gilt     44,640    54,329     ----\n Eurodollar     3,580     1,720     2,844\n T-bond         1,737     3,479     ----\n Sterling       1,466     2,223    18,191\n FT-SE          1,277       657     ----\n Total options 52,700    62,408    23,238\n    (Long gilt, T-bond and FT-SE index options were not trading\nin February 1986).\n Reuter\n&#3;',0
'COLOMBIAN OIL EXPORTS NOT AFFECTED BY QUAKE Colombian oil installations were not\ndamaged by an earthquake which shook Ecuador and southern\nColombia last night and there are no plans to suspend exports,\na spokesman for the state-run oil company Ecopetrol said.\n    He said no damage was reported, unlike in Ecuador where\nindefinite force majeure was declared on crude exports.\n    Colombia currently produces about 360,000 barrels per day\n(bpd) of crude. Exports in january totalled 123,000 bpd.\n    The quake, which in Colombia measured between 6.5 and seven\non the 12-point international Mercalli scale, caused panic\namong residents but no injuries were reported.\n Reuter\n&#3;',0
'CHICAGO MILWAUKEE &lt;CHG> GREETS SHEARSON STAKE Chicago Milwaukee Corp said it welcomed\nan investment by Shearson Lehman Brothers Inc in its company.\n    Yesterday, Shearson Lehman, a subsidiary of American\nExpress Co (AXP), disclosed in a Securities and Exchange\nCommission filing that it holds a 5.35 pct interest in Chicago\nMilwaukee.\n    Chicago Milwaukee\'s stock edged up 2-1/8 to 138 on turnover\nof 8,100 shares, as one of the biggest gainers on the NYSE. The\nstock has been trading in a 154 to 128 range for the last 52\nweeks.\n    Edwin Jacobson, Chicago Milwaukee president, declined to\ncomment on movement of the company\'s stock but said,\"From an\ninvestment point of view, we are pleased to have Shearson,\nLehman as a substantial investor.\"\n    Shearson, Lehman purchased the shares for investment\npurposes and may continue buying shares depending on market\nconditions, according to the filing.\n    Chicago Milwaukee, which sold its railroad interests to Soo\nLine Railroad Co (SOO) in February 1985, currently manages and\nsells its real estate which consists of 28,000 parcels in 11\nstates.\n Reuter\n&#3;',0
'DAUPHIN DEPOSIT &lt;DAPN> TO MAKE ACQUISITION Dauphin Deposit Corp said it has\nsigned a letter of intent to acquire Colonial Bancorp Inc of\nNew Holland, Pa., in an exchange of 3.6 to 4.4 Dauphin shares\nfor each colonial share, depending on the market value of\nDauphin shares just before the merger takes place.\n    The company said the acquisition is subject to approval by\nColonial shareholders and regulatory authorities.  Colonial had\nassets at year-end of about 150 mln dlrs.\n Reuter\n&#3;',0
'VAN DORN CO &lt;VDC> SETS QUARTERLY Qtly div 27-1/2 cts vs 27-1/2 cts prior\n    Pay May One\n    Record April 17\n Reuter\n&#3;',0
'M.D.C. HOLDINGS INC &lt;MDC> SETS QUARTERLY Qtly div 10 cts vs 10 cts prior\n    Pay March 31\n    Record March 16\n Reuter\n&#3;',0
'CHUBB CORP &lt;CB> SETS QUARTERLY Qtly div 42 cts vs 42 cts prior\n    Pay April Seven\n    Record March 20\n Reuter\n&#3;',0
'CRUDE OIL PRICES UP AS STOCKS, OUTPUT FALL U.S. crude oil prices rose above 18 \ndlrs a barrel this week and industry analysts said the price\ncould rise another dollar as inventories fall.\n    \"OPEC is keeping its production down, and in the cash market\nthere is tight supply of crude with short transportation time\nto major refining centers,\" said Daniel McKinley, oil analyst\nwith Smith Barney, Harris Upham and Co. \"That could send prices\n50 cts to a dollar higher,\" he added.\n    The U.S. benchmark crude West Texas Intermediate rose to\n18.15 dlrs a barrel today, a rise of 1.50 dlrs this week.\n    The rally in oil prices this week came after prices fell in\nFebruary more than two dlrs from its high of 18.25 dlrs a\nbarrel.\n    \"Oil traders were pulling prices down on the assumption that\noil stocks were building and OPEC was producing well above its\n15.8 mln bpd quota, but now both of those assumptions have come\nunder question,\" McKinley said.\n    Yesterday the International Energy Agency in its monthly\nreport said that oil stocks in the OECD area, or in\nindustrialized nations, were drawn down by 1.3 mln bpd during\nthe first quarter of this year.\n    IEA estimates that the draw in oil stocks during the first\nquarter of this year will come largely from oil companies whose\ninventory levels by April one will be an estimated 326 mln\ntonnes, or about 74 days consumption.\n    Industry analysts also said the estimate of a 3.5 mln bpd\ndraw in stocks made by Shell Chairman Peter Holmes yesterday\nfed speculation that other major companies were destocking.\n    Traders said the destocking has come about as a result of a\nso-called buyers strike, which kept refiners from buying\nofficially priced OPEC oil in an effort to get the organization\nto offer discounts to the official price.\n    \"This struggle between the companies and OPEC is the\nultimate game of chicken but it will be resolved relatively\nsoon. I would imagine by about the middle of the month (March),\"\nthe general trading manager of an international oil company\ntold Reuters in a telephone interview.\n    For its part OPEC has moved to win this game by cutting\nexcess supplies from the market by a reduction of its own\noutput, traders said. A Reuter survey estimates OPEC output to\nbe 14.7 mln bpd this week.\n    Also, an earthquake in Ecuador yesterday led it to suspend\noil exports indefintiely and force majeure its shipments.\n    \"This will reduce short-haul availabilities by about 250,000\nbpd almost immediately and the longer the suspension continues,\nthe larger the draw in stocks will be for companies expecting\nit to be there,\" McKinley said.\n    International oil traders said that other short-haul\ncrudes, such as North Sea Brent, were also scarce because Asian\nrefiners bought the oil after absorbing a lot of the readily\navailable Mideast crudes earlier this week.\n    If this pattern continues then oil companies will bid up\nthe price of oil as they purchase for their refineries, trading\nmanagers at several companies told Reuters.\n    But there were skeptics who said they wondered how long\nOPEC can retain its unity if buyer resistance continues.\n    Stephen Hanke, chief economist at Friedburg Commodity\nManagement, said OPEC production was lower \"because of the\nSaudi cut (to 3.1 mln bpd) and this could spell trouble if it\ngives other members an incentive to exceed their quotas.\"\n     He added, \"The Saudis will be picking up the tab for other\nmembers who produce over their quota, and the drain on the\nSaudis will continue, forcing them to cut output maybe as low\nas 2.5 mln bpd to support the 18 dlrs average price,\" he added.\n    There are also signs of some OPEC crudes being sold in the\nspot market at below OPEC official prices, traders said.\n    Oil traders said Nigerian Brass River sold for delivery\ninto the U.S. Gulf at a price related to North Sea brent, which\ntraded this week at 17.60 dlrs, far below the official price of\n18.92 dlrs for the similar quality Bonny Light.\n    Iranian oil is also surfacing in the U.S. Gulf and the Far\nEast at reported discounts to its 17.50 dlrs official price.\n    \"There is a lot of oil priced on government-to-government\ndeals, which are below official prices and this is probably\nbeing resold,\" one international trader said.\n Reuter\n&#3;',0
'MGE PLANNING APRIL 6 START UP OF HFCS CONTRACT The Minneapolis Grain Exchange (MGE)\nwill start trading futures contracts in high fructose corn\nsyrup on April 6 if the Commodity Futures Trading Commission\n(CFTC) approves the contract as expected next week.\n    Pat Henderson, spokesperson for the MGE, said the exchange\nexpects contract approval at CFTC\'s Tuesday meeting. It has\nbeen under review since the exchange submitted the proposal in\nDecember, 1985.\n    The proposed contract is based on 48,000 pound lots of\n55-pct high fructose corn syrup, the equivalent of one tank\ntruck of the sweetening agent derived from corn in the wet\nmilling process. The syrup, commonly called HFCS-55, is most\ncommonly used as a sweetener in soft drinks and other\nbeverages.\n    Delivery would be by shipping certificate from production\nfacilities designated by the exchange. The contract, designated\nby the symbol \"HF,\" would trade from 0900 to 1315 CST. Months\ntraded would correspond with the Chicago corn futures months of\nMarch, May, July, September and December.\n    Contract price will be quoted per hundred weight, with a\nminimum price fluctuation of one cent and maximum fluctuation\nof one dlr per CWT.\n    \"We hope the producers and users of fructose will be\nactively involved, those producers being the large processors,\nthe corn wet millers, and the users being the beverage\nbottlers,\" Henderson said. \"But there are potentials for all\ntypes of people to use it. There is quite a list of industries\nthat utilize fructose.\"\n Reuter\n&#3;',1
'FIRST FEDERAL BROOKSVILLE &lt;FFBV> SETS QUARTERLY Qtly div four cts vs four cts prior\n    Pay March 31\n    Record March 20\n    NOTE: First Federal Savings and Loan Association of\nBrooksville.\n Reuter\n&#3;',0
'ALUMINUM CO OF AMERICA &lt;AA> REGULAR DIVIDEND Qtly div 30 cts vs 30 cts in prior qtr\n    Payable May 25\n    Record May one\n Reuter\n&#3;',0
'&lt;TECHNIGEN PLATINUM CORP> IN METALS FIND Technigen Platinum corp said it\ninitial results of a 13-hole drilling program on its R.M. Nicel\nplatinum property in Rouyn-Noranda, Quebec, indicate\n\"extensive\" near-surface zones \"highly\" enriched in gold,\nplatinum and palladium were found in rocks on the periphery of\na sulphide deposit.\n    It said values of up to 0.073 ounce of platinum, 0.206\nounce palladium, three pct copper and 4.5 pct nickel were found\nover a drill section of 13 feet.\n                  \n More\n&#3;',0
'SIEMENS WANTS TO AMEND TELECOM PLUS &lt;TELE> PACT Telecom Plus International Inc\nsaid &lt;Siemens AG>\'s Siemens Information Systems wants to amend\nits agreement to purchase Telecom\'s 65 pct interest in Tel Plus\nCommunications to delay payment of 25 mln dlrs for 11 months.\n    Telecom\'s shareholders are scheduled to vote on the 165 mln\ndlr transaction Monday.\n    Telecom said it advised Siemens it intends to close the\ntransaction on March 16, as scheduled, if it is approved by\nshareholders. A spokesman said this means Telecom will decide\nbefore the 16th whether or not to accept the proposed change.\n    Explaining its request for the amendment, Siemens informed\nTelecom it had recently become aware of information causing\nconcern with respect to certain accounting and other matters.\n    Siemens said it will therefore need to continue its review\nbeyond March 16 to determine whether certain representations\nand warranties are true.\n    Telecom said it advised Siemens it knows of no information\nwhich would make its representations and warranties untrue.\n    Siemens already owns the remaining 35 pct of Tel Plus. The\n65 pct represenmts Telecom\'s principal operating asset.\n    A Telecom spokesman said the agreement calls for payment of\nall but 29 mln dlrs of the price at closing. Of this, 21 mln\ndlrs was to be paid 11 months later and two mln dlrs per year\non the anniversary date of the transaction.\n    He said Siemens is now proposing that 25 mln dlrs be added\nto the 21 mln dlrs to be paid in 11 months.\n    Telecom said the proposed amendment would also permit\nSiemens to defer repayment of up to an additional 50 pct of\ncertain intercompany debt until completion of the review.\nTelecom said it estimates this to ba about 15 mln dlrs.\n Reuter\n&#3;',0
'LUCKY STORES SAYS IT AND INVESTOR EDELMAN REACHED STANDSTILL AGREEMENT\n ',0
'PIONEER GROUP UNIT GETS MORE GHANA GOLD LAND The Pioneer Group Inc said its 70\npct-owned Teberebie Goldfields Ltd venture was granted an\nadditional concession of land in Ghana to seek and mine gold.\n    The State Gold Mining Corp of Ghana granted the venture an\nadditional 14.5 square kilometers in Teberebie, Ghana,\ncontiguous to 11.5 square kilometers granted earlier.\n    The original concession appears to have a substantial\namount of gold bearing material containing about 2 grams, or\n6/100 ounces, of gold per tonne. But the venture has no firm\nestimate on the costs of extracting the gold and no assurances\ncan be given that the reserves can be mined profitably, the\ncompany said. It said Teberebie Goldfields has not conducted\ntests on the newly granted land but added the land seems to be\nsimilar in geological characteristics to the original land.\n Reuter\n&#3;',0
'INTERNATIONAL MULTIFOODS CORP &lt;IMC> DIVIDEND Qtly div 29-1/2 cts vs 29-1/2 cts prior\n    Pay April 15\n    Record March 27\n Reuter\n&#3;',0
'HADSON CORP &lt;HADS> 4TH QTR NET Shr profit four cts vs loss 99 cts\n    Net profit 545,000 vs loss 13.1 mln\n    Revs 75.3 mln vs 37.9 mln\n    Avg shrs 14.8 mln vs 13.1 mln\n    Year\n    Shr profit 34 cts vs profit 34 cts\n    Net profit 4,908,000 vs profit 4,487,000\n    Revs 216.8 mln vs 117.7 mln\n    Avg shrs 14.6 mln vs 13.1 mln\n    NOTE: 1985 net included gain on sale of foreign properties\nof 15.5 mln dlrs or 1.19 dlrs per share and a writedown of oil\nand gas properties of 12.5 mln dlrs or 96 cts per share. 1985\n4th qtr net included writedowns of oil and gas properties.\n Reuter\n&#3;',0
'LUCKY STORES &lt;LKS>, EDELMAN IN STANDSTILL PACT Lucky Stores Inc said it and\ninvestor Asher Edelman agreed on a settlement that prohibits\nEdelman and his group from taking specified actions to obtain\ncontrol of the company and that limits the Edelman group\'s\nownership of Lucky\'s stock to less than five pct of any voting\nsecurities.\n    The arrangement also provides for the dismissal of pending\nlitigation between the parties, Lucky Stores said.\n    The settlement also calls for the withdrawal of Edelman\'s\nmotion to intervene in pending shareholder actions against\nLucky Stores and its directors, the company said.\n    In addition, the standstill provisions also apply to\nHancock Fabrics after it is spun off to Lucky stockholders, the\ncompany said.\n    Lucky Stores said the arrangement also calls for the\ncompany to submit to stockholders at a special meeting set for\nDecember 31 a proposal from Edelman seeking their views\nconcerning repeal of a charter provision that limits the voting\npower of substantial Lucky stockholders.\n    Edelman, who owns about five pct of Lucky Stores\' stock,\nlast year was rebuffed in his effort to acquire the company.\n    Last October Lucky Stores implimented a restructuring\nprogram that included the repurchase of 28 pct of its own\ncommon shares and reincorporation in Delaware.\n    The spinoff of Hancock Textile Co, a chain of 324 retail\nstores, was one of the key parts of the restructuring program.\n    Edelman and his Plaza Securities Co partnership\nsubsequently sued in an attempt to block the proposed\nreincorporation, which was a condition of the repurchase and\nrestructuring plan.\n    Under this latest arrangement, Lucky Stores said it agreed\nto reimburse the Edelman group for 2.8 mln dlrs of\nout-of-pocket expenses, which include litigation and other\ncosts.\n    \"This agreement serves the interests of Lucky stockholders\nby avoiding the significant cost of continued litigation and\nthe accompanying demands on management time,\" Lucky Stores\nchairman John Lillie said in a statement.\n Reuter\n&#3;',0
'ATT &lt;T> PHONE PROPOSAL TO HELP PROFITS American Telephone and Telegraph Co\'s\nproposal to deregulate its long distance phone service is\nunlikely to produce a radical change in phone rates, but it\nshould help the company\'s profits, analysts said.\n    \"Deregulation will mean more pricing discounts for large\nvolume users, but status quo for residential users,\" said\nPaineWebber Group analyst Jack Grubman.\n    But the proposals will scrap the pricing formula that has\nconstrained the company\'s profits in the long distance\nbusiness, leading to higher profit margins, analysts said.\n    ATT has long pushed for deregulation of its long-distance\nbusiness, the profits of which have been limited by a regulated\nrate-of-return on the company\'s investments. The rate was cut\nlast year to 12.20 from 12.75 pct.\n    Earlier today the company proposed to the Federal\nCommunications Commission to scrap the formula, cut the amount\nof time needed to approve rate proposals, and leave it up to\nits competitors to oppose it filings.\n    MCI Communications Corp &lt;MCIC> made a similar filing\nyesterday, saying greater the moves would increase competition\nin the telephone business.\n    Analysts said the proposals will allow ATT to cut costs in\nthe long-distance unit, and increase its profit margins\npreviously constrained by the rate of return. But many said\nthey did not expect the proposals to lead to higher prices in\nthe industry, simply because of the competition the phone\nindustry giant faces.\n    \"You probably wouldn\'t see as much of a price decline,\"\nsaid Gartner Group analyst Fritz Ringling. \"But you wouldn\'t\nsee a rise.\" Grubman said the proposals will allow ATT to\nselectively raise or lower prices, depending on the market. \"It\nwill give ATT a lot more flexibility,\" he said.\n    ATT now faces a period of comment in which a number of\ncompanies will be able to respond to the proposals in FCC\nhearings.\n    It may face at least one strong opponent, U.S. Sprint, the\nlong distance joint venture between GTE Corp &lt;GTE> and United\nTelecommunications Inc &lt;UT>.\n    \"We think the Congress of the FCC should establish a\nreasonable rate of return. Someone should establish it,\" a U.S.\nSprint spokesman said. But he added the company was not opposed\nto greater competition.\n    It may also take some time for the proposals to go through,\nand in the process they may be altered by the various\nconstituencies affected by the move.\n    \"There\'s so much complexity, so much inertia, so much\nbureacracy, that stricly speaking about the mechanisms, it\nwon\'t happen that fast,\" said analyst Victor Krueger of the\nGartner Group.\n Reuter\n&#3;',0
'CME SETS MAY 29 START FOR LUMBER FUTURES OPTIONS The Chicago Mercantile Exchange (CME)\nboard of governors announced today the options on Random Length\nlumber futures will begin trading on May 29.\n    The contract received Commodity Futures Trading Commission\n(CFTC) approval on January 21 after being submitted for review\nlast October 13.\n    Initially, only January, March and May delivery months will\nbe listed for trading. The size of the underlying futures\ncontract is 130,000 board feet. Regular trading hours for the\ncontract will be from 0900 to 1305 Central Time. However, on\nthe first day of trading the market will open at 1000.\n    On March 4 the CME board amended the contract to eliminate\nChristmas Eve expirations for the January option. This\namendment has been submited to the CFTC, the CME said.\n reuter\n&#3;',0
'TWA CONFIRMS OWNERSHIP OF 15 PCT OF USAIR GROUP\n ',0
'STRUTHERS WELLS &lt;SUW> SEES 1986 NOV 30 LOSS Struthers Wells Corp said it expects\nto report a loss, without tax benefit, of about 16 mln dlrs for\nthe fiscal year ended November 30, 1986, versus a profit of\n295,000 dlrs in fiscal 1985.\n    The company added, however, that about 13.6 mln dlrs of the\nloss relates to discontinued operations and disposal of\nsubsidiaries.\n    The company said the loss is part of its previously\nannounced restructuring that includes the sale of its foreign\nand domestic units.\n    Struthers added that it has filed with the Securities and\nExchange Commission for an extension to file its annual report\non form 10-K as a result of delays caused by the restructuring.\n Reuter\n&#3;',0
'SOROS GROUP TELLS SEC IT MAY BUY UP TO 49.9 PCT OF FAIRCHILD INDUSTRIES\n ',0
'TWA &lt;TWA> CONFIRMS OWNERSHIP OF USAIR &lt;U> STOCK Trans World Airlines Inc said it owns\nmore than four mln USAir Group shares or about 15 pct of the\ntotal outstanding.\n    TWA said it may acquire additional shares in the open\nmarket, in private transactions, through a tender offer or\notherwise, subject to Department of Transportation approval.\n    TWA has offered 52 dlrs per share for USAir Group. USAir\nrejected the offer yesterday, calling it a last-minute attempt\nto interfere with its takeover of Piedmont Aviation Inc.\n    A TWA spokesman said the company has filed an application\nfor approval on its offer to buy USAir with the Department of\nTransportation, and later today it will file a response to\nUSAir\'s motion with the DOT to dismiss the TWA application.\n    TWA said it made the statement today on its stock position\nin USAir in response to inquiries.\n    Traders said they believed TWA Chairman Carl Icahn was the\nbuyer of an 855,000 share block crossed today by Salomon\nBrothers.\n    USAir stock was trading at 50-3/4, up 2-1/4 on heavy volume\nof 3.1 mln shares. TWA stock fell 3/8 to 30-5/8.\n    While analysts and arbitragers have speculated that Icahn\nmay have made the offer for USAir in order to trigger the\nacquisition of his own airline, Wall Street today began to take\nIcahn\'s effort more seriously.\n    \"I think he\'s going to be the next Frank Lorenzo of Wall\nStreet,\" said one market source. Lorenzo, chairman of Texas\nAir, has added to his airline with the acquisitions of Eastern\nAirlines and People Express Airlines.\n    There was also speculation that Icahn would like to buy\nUSAir and then sell TWA as a merged company.\n Reuter\n&#3;',0
'SILVER STATE MINING &lt;SSMC> CORRECTS NET Silver State Mining Corp said it has\ncorrected its 1986 fourth quarter net income to 485,380 dlrs\nfrom 528,790 dlrs reported earlier today.\n    The company earned 286,969 dlrs in last year\'s fourth\nquarter.\n Reuter\n&#3;',0
'STEWART-WARNER CORP 4TH QTR SHR LOSS 3.86 DLRS VS PROFIT 37 CTS\n ',0
'GROUP TO BOOST FAIRCHILD INDUSTRIES (FEN) STAKE An investor group led by New York\ninvestor George Soros said it was dissatisfied with Fairchild\nIndustries Inc management and was considering boosting its\nholdings to as much as 49.9 pct of the aerospace and aviation\ncompany\'s outstanding stock.\n    The group already controls 1,647,481 Fairchild Industries\nshares or 11.5 pct of the total outstanding.\n    The group said it filed on Wednesday with federal antitrust\nregulators for advance clearance to buy enough additional\nshares to increase its total stake to up to 49.9 pct of the\ntotal outstanding stock.\n    The group said its representatives had met with Fairchild\nIndustries officials to inform them \"that they do not believe\nmanagement has been successful in enhancing or protecting\nshareholder values.\"\n    It said it was considering the additional share purchases\nto enable it to \"assert a greater degree of influence over the\nfuture management and policies of the issuer.\"\n    It said a decision on the specific level of share ownership\nit would seek depended on market prices, future changes in\nmanagement policies, available financial resources and other\nfactors.\n    The group said it also reserved the right to pursue other\nmeasures intended to influence Fairchild management and\npolicies, either alone or in concert with other investors.\n    The group includes Soros and Quantum Fund, an offshore\ninvestment firm headquartered in Curacao, Netherlands Antilles\nthat is advised by Soros.\n    The group said that since its last SEC filing, made Jan. 2,\nit had purchased no additional Fairchild shares and had sold\n6,700 shares on the New York Stock Exchange Jan. 19.\n    A Fairchild Industries official later said Soros had told\nthe company he was not dissatisfied with its management.\n    \"Contrary to the filing, Mr. Soros has told the company\ntoday that he is not dissatisfied with management,\" Fairchild\'s\nBill Fulwider told Reuters.\n    However, Fulwider said the company would have nothing to\nsay at this time about Soros\' disclosure that he may buy up\nenough additional Fairchild shares to hold as much as 49.9 pct\nof the company\'s outstanding stock.\n Reuter\n&#3;',0
'PAYLESS CASHWAYS &lt;PCI> SEES BETTER FIRST QTR Payless Cashways Inc chairman David\nStanley told analysts the company\'s first quarter results to be\nreported March 17 will be better than the seven cts per share\nreported in the year ago quarter.\n    \"It was not a wonderful sales quarter, but it only\nrepresents 14 pct of the year\'s total results,\" Stanley said.\n    Stanley also said that 1987 full year sales will be in\nexcess of 1.8 billion dlrs as compared to the 1.5 billion dlrs\nreported in 1986. He also said that analysts\' estimates of 1.55\ndlr per shr for 1987 \"are not crazy.\"\n    Payless reported net income of 1.22 dlr per share in 1986.\n    \"The economy may not get a lot better, but we expect our\nadvantages in the lumber industry and cost cutting measures to\nkeep us competitive,\" Larry Kunz, chief financial officer,\nsaid.\n     The company acquired Knox Lumber Co for about 24.3 mln\ndlrs in October 1986.\n    Stanley said the company\'s stronger-than-optimal balance\nsheet will enable it to make further acquisitions but no\nnegotiations are going on at the current time.\n    He said some benefits of a new management information\nsystem will be felt in 1987 and more substantially in 1988.\n   \nREUTER...^M\n&#3;',0
'STEWART-WARNER CORP &lt;STX> 4TH QTR LOSS Shr loss 3.86 dlrs vs profit 37 cts\n    Net loss 24,973,000 vs profit 2,389,000\n    Sales 62.5 mln vs 65.3 mln\n    Year\n    Shr loss 3.22 dlrs vs profit 1.32 dlrs\n    Net loss 20,861,000 vs profit 8,515,000\n    Sales 268.0 mln vs 272.7 mln\n    NOTE: 1986 earnings include a provision for restructuring\ncosts of 23,675,000 dlrs, or 3.66 dlrs a share (pre-tax) and\nthe effect of adoption of FASB 87 which reduced pension expense\nby 617,000 dlrs for the quarter and 1,817,000 dlrs for the year\nbefore taxes\n    Earnings include nonoperating income from the effect of\nnonrecurring gains of 1,811,000 dlrs in the 1st Qtr of 1986\nfrom the sale of its minority interest in Plexus Corp and\n1,480,000 dlrs in the 3rd Qtr of 1985 related to the sale of\nexcess property\n Reuter\n&#3;',0
'MONITERM CORP &lt;MTRM> 4TH QTR LOSS Shr loss 15 cts vs loss 11 cts\n    Net loss 632,000 vs loss 437,000\n    Revs 3,206,000 vs 2,650,000\n    Year\n    Shr loss 19 cts vs loss 24 cts\n    Net loss 793,000 vs loss 1,004,000\n    Revs 11.5 mln vs 14.4 mln\n    NOTE: Prior year figures restated to reflect merger in\nMarch 1986 with Amtron Corp.\n Reuter\n&#3;',0
'THE CHUBB CORP &lt;CB> SETS QTRLY PAYOUT Qtrly 42 cts vs 42 cts prior\n    Pay April 7\n    Record March 20\n Reuter\n&#3;',0
'SOUTHTRUST &lt;SOTR> TO ACQUIRE FOUR BANKS SouthTrust Corp, a 5.1 billion\ndlr multibank holding company, said it entered into agreements\nto acquire four Florida banks with assets totalling more than\n233.2 mln dlrs.\n    Terms of the agreements were not disclosed.\n    The four banks are: Central Bank of Volusia County, with\nassets of 59.3 mln dlrs, Bank of Pensacola with assets of 63.8\nmln dlrs, and Vista Bank, which operates Vista Bank of Volusia\nCounty with assets of 37.8 mln dlrs and Vista Bank of Marion\nCounty with assets of 72.3 mln dlrs.\n    It said the agreements are subject to regulatory approval.\n Reuter\n&#3;',0
'CARLING O\'KEEFE SELLS STAR OIL UNIT TO UNITED COAL CANADA FOR 57 MLN DLRS\n ',0
'HUGHES TOOL &lt;HT> UP ON MERGER SPECULATION Hughes Tool Co rose one to 12-1/4 on\n1,658,000 shares, apparently reflecting a belief that Baker\nInternational Corp &lt;BKO> will be able to persaude Hughes to go\nalong with a previously announced merger, analysts said.\n    This week Hughes seemed to back out of the merger but then\nsaid it was still interested in talking.\n    \"It sounds like Baker wants it and if people are convinced\na deal is going to go through the stock goes up,\" said analyst\nPhil Pace of Kidder, Peabody and Co. Holders of Hughes would\nget 0.8 share of Baker for each Hughes share. \n Reuter\n&#3;',0
'AETNA &lt;AET> REACHES AGREEMENT TO BUY COMPANY Aetna Life and Casualty Co said\nit reached an agreement to acquire a 49 pct interest in\nUniversal Life and General Insurance Sdn Bhd &lt;ULG>, a Malaysian\ncomposite insurance company.\n    The company said the 51 pct balance will continue to be\nowned by Malaysia Apera Group of private investors.\n    The transaction is valued at approximately 37.8 mln dlrs\nand is expected to be completed by March 31, 1987.\n Reuter\n&#3;',0
'CARLING O\'KEEFE&lt;CKB> SELLS OIL UNIT, TAKES GAIN Carling O\'Keefe Ltd said it sold its\nStar Oil and Gas Ltd unit to United Coal (Canada) Ltd for about\n57 mln dlrs cash.\n    Carling said it will record an extraordinary gain of about\ntwo mln dlrs after tax, or nine cts a common share resulting\nfrom the sale.\n    The company did not elaborate further on financial terms.\n    A Carling official later said in reply to an inquiry that\nCarling would record the extraordinary gain in its fourth\nquarter ending March 31.\n    The move came after Carling\'s 50 pct-owner &lt;Rothmans Inc>\nagreed last week to sell its Carling stake to &lt;Elders IXL Ltd>,\nof Australia, for 196.2 mln Canadian dlrs.\n Reuter\n&#3;',0
'CHANNEL FERRY REPORTED SINKING OFF BELGIUM The channel ferry Herald\nof Free Enterprise from the British Townsend Thorensen company\nwas sinking off the Belgian coast tonight with 463 people on\nboard, the Dutch newsagency ANP reported today.\n    An unspecified number of people had fallen into the water,\nit said, quoting the pilot organisation in this south-western\nDutch port city near the Belgian border.\n    It said the vessel had capsized after a collision but gave\nno more details.\n    Dan Kaakebeen a spokesman for the Dutch salvage firm Smit\nInternational told Reuters by telephone from Rotterdam that the\nvessel was just off the Belgian port of Zeebrugge with 463\npassengers and crew when the accident occurred at 1850 GMT.\n    Kaakebeen said the firm had one vessel at the scene and\nanother on its way with divers on board.\n    A spokesman at the port authority of nearby Vlissingen said\nattempts were being made to pull the vessel into shallow\nwaters.\n    Weather conditions were good with no fog or wind, and there\nwere many other vessels in the area.\n Reuter\n&#3;',0
'PATRICK PETROLEUM CO &lt;PPC> YEAR LOSS Shr loss 1.22 dlrs vs profit 27 cts\n    Net loss 8,812,432 vs profit 1,847,560\n    Revs 7,981,198 vs 10.3 mln\n    Avg shrs 7,187,941 vs 6,828,368\n    NOTE: Current year includes tax credit of 800,000 dlrs.\n Reuter\n&#3;',0
'EPITOPE INC &lt;EPTO> 1ST QTR DEC 31 LOSS Shr loss 24 cts vs loss nine cts\n    Net loss 216,697 vs loss 47,344\n    Sales 144,403 vs 118,391\n\n Reuter\n&#3;',0
'&lt;CLARY CORP> 4TH QTR DEC 31 LOSS Shr loss 12 cts vs loss 16 cts\n    Net loss 214,000 vs 309,000\n    Revs 3,056,000 vs 2,545,000\n    Year\n    Shr loss 43 cts vs loss nine cts\n    Net loss 754,000 vs loss 159,000\n    Revs 11.4 mln vs 11.4 mln\n Reuter\n&#3;',0
'LLOYDS BANK CANADA 1ST QTR PROFIT RISES SHARPLY Lloyds Bank Canada, a unit of &lt;Lloyds\nBank International PLC>, said net profit soared to 3,053,000\ndlrs for the first quarter ended January 31 from 9,000 dlrs a\nyear earlier.\n    Loan loss provisions, a mandatory five-year averaging of\nactual loan losses, also rose in the first quarter to 6,375,000\ndlrs from year-ago 113,000 dlrs, the bank said.\n    Lloyds Bank Canada became Canada\'s largest foreign bank\nlast autumn with its 200 mln Canadian dlr acquisition of\nContinental Bank of Canada.\n\n Reuter\n&#3;',0
'BRAZIL STRIKES CAUSE GOVERNMENT MAJOR PROBLEMS Strikes by Brazil\'s 40,000\nseamen and by petrol station owners in four states are causing\nmajor headaches to a government already wrestling with a debt\ncrisis.\n    A week ago seamen began their first national strike for 25\nyears and union leaders say they have seriously affected\nBrazilian exports by making idle 160 ships.\n    On February 20 the Brazilian government suspended interest\npayments on part of its huge foreign debt following a sharp\ndeterioration in its trade balance.\n    Today the government faced a fresh problem, when most\npetrol station owners in Sao Paulo, the country\'s industrial\nheartland, and in three other states closed down to press for\nhigher fuel prices.\n    There were fears that the combination of the two stoppages\ncould lead to a serious fuel shortage.\n    The seamen\'s leaders say their strike has halted 48 of the\n72 ships belonging to the state oil company Petrobras.\n    The Jornal do Brasil newspaper, in an editorial today\nentitled \"Dangerous Confrontation,\" said: \"From the economic\npoint of view the seamen\'s strike carries an alarming cost,\nwith grave consequences for the supply situation and for the\ncountry\'s external trade.\"\n    The seamen are seeking a 275 pct pay rise and have rejected\noffers of up to 100 pct.\n    Later today the Higher Labour Tribunal in Brasilia is due\nto rule on whether the seamen\'s strike is legal. But a senior\nofficial of the National Merchant Marine Union, Jorge Luis Leao\nFranco, told Reuters that the strike would continue regardless\nof the tribunal\'s ruling.\n    Labour unrest has worsened in Brazil following the collapse\nover the last few months of the government\'s Cruzado Plan price\nfreeze. Prices have been rising at about 15 pct a month. Not\nonly workers but also businessmen are restive. Petrol station\nowners said many garages had closed indefinitely today in Sao\nPaulo, Parana, Mato Grosso and Mato Grosso do Sul.\n    Television reports said that in the Parana state capital of\nCuritiba petrol stations were only supplying fuel for\nexceptional cases such as ambulances and funeral processions.\n    Brazilian garage owners want to be allowed to raise their\nprofits on alcohol fuel and petrol sales to 1.26 cruzados (six\nU.S. Cents) a litre from 0.56 cruzados (about 2.5 cents).\n    Queues formed at petrol stations in Sao Paulo late last\nnight as motorists filled up their tanks while they still\ncould.\n    Political sources said the government of President Jose\nSarney was closely following the strikes and the overall fuel\nsupply situation.\n Reuter\n&#3;',0
'DOME PETE&lt;DMP> SAID TO BE PRESSED TO SELL ENCOR Dome Petroleum Ltd is under pressure\nfrom one of its largest creditors, &lt;Canadian Imperial Bank of\nCommerce>, to sell its 42 pct stake in &lt;Encor Energy Corp Ltd>,\nenergy industry analysts said.\n    Dome has pledged its 42.5 mln Encor shares as security for\npart of its debt to Commerce Bank, estimated last year at 947\nmln Canadian dlrs, and the bank wants Dome to sell the stock to\npay down debt, analysts said.\n    \"The Commerce has been slowly but surely moving Encor in the\ndirection that might make it a saleable asset,\" said one analyst\nwho asked not to be named.\n    Dome earlier said it was not considering selling Encor\nEnergy, but reaffirmed the company\'s 23.3 pct interest in\nCanadian gold producer Dome Mines Ltd &lt;DM> is up for sale \"at\nthe right price.\"\n    Dome, now negotiating a plan to restructure more than 6.10\nbillion dlrs in debt, sees Encor as a strategic investment that\nit does not intend to sell, spokesman David Annesley said. The\nEncor shares do not pay dividends.\n    A Commerce Bank spokesman also declined comment when asked\nwhether it is pressing Dome to sell its Encor stake.\n    At current market prices, Dome\'s stake in Encor would be\nvalued at about 308 mln dlrs, while its 20.9 mln Dome Mines\nshares would be worth about 319 mln dlrs.\n    Recent strength in the price of Encor shares may also\nprompt Commerce Bank to press Dome to divest its holding in the\nCanadian oil and gas producer, analysts said.\n    \"Encor\'s stock price has improved quite substantially in\nrecent weeks with a runup in crude prices,\" Peters and Co Ltd\noil analyst Wilf Gobert commented.\n    \"The possibility is that Commerce Bank would like to see it\nsold at these levels because they can get more for it now than\nthey have been able to in recent years,\" he added.\n    Encor traded earlier on the Toronto Stock Exchange at\n7-1/8, near its 52-week high of 7-1/2 and up from around six\ndlrs in early February.\n    The company also recently set up its own operating\nmanagement, which was previously carried out by Dome Petroleum,\nMaison Placements Canada Inc analyst Denis Mote commented.\n    Dome and Encor \"are actually going to get farther apart. So\n(the sale) does make a lot of sense,\" Mote said.\n    However, analysts said Dome will resist any moves to divest\nEncor in favor of retaining the operating assets since sale\nproceeds would likely go directly to pay down Dome\'s debt to\nCommerce Bank.\n    \"I think they\'ll probably try to hang onto Encor as long as\nthey can,\" said Bache Securities Inc analyst Doug Weber.\n    Some of Dome\'s group of 56 major creditors might move to\nblock such a sale, arguing they have a claim on company assets.\n    \"Other creditors generally all want to make sure that\nsomething they might be able to get a piece of is not being\nsold out from under them,\" said analyst Gobert.\n    Another stumbling block would be Encor\'s 225 mln dlr joint\nliability in loans to Dome Petroleum advanced by Arctic\nPetroleum Corp of Japan for Beaufort Sea exploration.\n    Analysts said a similar hurdle could also hinder the\npossible sale of Dome Petroleum\'s interest in Dome Mines.\n    Dome Mines has guaranteed 225 mln dlrs of Dome Petroleum\'s\ndebt and has a \"right of consent\" to the sale of Dome Petroleum\'s\nholding.\n    Presumably, a potential buyer of the Dome Mines shares\nwould seek some type of relief on the company\'s debt\nobligations connected with Dome Petroleum, Gobert said.\n    Dome spokesman Annesley earlier declined to specify at what\nprice the company would consider selling its Dome Mines shares,\nbut said current prices of more than 15 dlrs a share \"are very\nattractive.\"\n Reuter\n&#3;',0
'PATRICK PETROLEUM CO &lt;PPC> 4TH QTR NET Shr nil vs one ct\n    Net 59,608 vs 95,909\n    Revs 2,921,629 vs 2,918,682\n    Avg shrs 7,062,172 vs 7,273,020\n    Year\n    Shr loss 1.22 dlrs vs profit 27 cts\n    Net loss 8,812,432 vs profit 1,847,560\n    Revs 3,070,327 vs 3,195,710\n    Avg shrs 7,187,941 vs 6,828,368\n Reuter\n&#3;',0
'INLAND VACUUM INDUSTRIES INC &lt;IVAC> 1ST QTR NET Qtr ends Jan 31\n    Shr six cts vs eight cts\n    Net 103,436 dlrs vs 134,360 dlrs\n    Revs 1,762,270 vs 1,282,463\n Reuter\n&#3;',0
'IRANIAN OIL MINISTER ARRIVES IN ALGERIA Iranian Oil Minister Gholamreza Aqazadeh\narrived in Algiers at the head of a large delegation for talks\non stabilizing oil prices, the official news agency APS said.\n    In a brief arrival statement, he said Iran and Algeria were\nengaged in \"continuous and stronger cooperation\" on the world\npetroleum market and had \"deployed considerable efforts to\nstablise petroleum prices.\"\n    He was greeted on arrival by Belkacem Nabi, the Algerian\nMinister of Energy, Chemical and Petro-Chemical Industries.\n Reuter\n&#3;',0
'DEL LABORATORIES INC &lt;DLI> 4TH QTR NET Shr 16 cts vs 55 cts\n    Net 232,000 vs 814,000\n    Revs 22.4 mln vs 22 mln\n    Year\n    Shr 2.07 dlrs vs 2.43 dlrs\n    Net 3,108,000 vs 3,670,000\n    Revs 106.7 mln vs 101.1 mln\n    NOTE: Per share figures adjusted to reflect four-for-three\nstock split paid March 26, 1986.\n Reuter\n&#3;',0
'CHILEAN GDP UP 5.7 PCT IN 1986, CENTRAL BANK SAYS chile\'s gross domestic product rose 5.7\npct last year to 18.8 billion dollars, compared to a 2.4 pct\nrise in the previous year, the central bank said.\n    It said initial projections were for a 4.6 pct increase in\ngdp this year.\n    The sectors which registered the greatest growth in 1986\nwere fisheries with 10 pct, agriculture at 8.7 pct, transport\nand communications with 8.1 pct and industry at 8.0 pct, the\nbank added.\n Reuter\n&#3;',0
'LANDMARK SAVINGS &lt;LSA> COMPLETES OFFICE SALE Landmark Savings Association said it\ncompleted the sale of its Whitehall, Pa., office, including\ndeposits of about 31 mln dlrs, to Parkvale Savings Association.\n    Landmark said it realized a gain of about 1.1 mln dlrs on\nthe sale. The price was not disclosed.\n Reuter\n&#3;',0
'U.S. FEEDGRAINS GROUP ATTACKS CANADA CORN RULING The U.S. Feedgrains Council is\nsurprised and disappointed by the Canadian Import Tribunal\'s\ndecision that imports of corn from the U.S. are materially\ninjuring Canadian corn producers, a council spokesman said.\n    \"At a time when the world is attempting to liberalize trade\nin the new rounnd of multilateral negotiations, it is\nincomprehensible that a country that stands to gain so much\nfrom the reduction in agricultural trade barriers would\nthreaten that process by caving in to pressures for\nprotectionism,\" council president Darwin E. Stolte said.\n    Canada\'s finding will strain the U.S./Canadian trading\nrelationship, could damage the future of U.S. feedgrains \nsupport for the free trade negotiations, and also negatively\nimpact farm trade reform with other nations, the council said.\n Reuter\n&#3;',1
'HOLLY SUGAR CORP &lt;HLY> SETS REGULAR DIVIDEND Qtly div 25 cts vs 25 cts prior\n    Pay March 31\n    Record March 18\n Reuter\n&#3;',0
'CORADIAN CORP &lt;CDIN> YEAR NET Shr profit one cent vs loss 37 cts\n    Net profit 148,000 dlrs vs loss 1,686,000\n    Revs 11.4 mln vs 10.9 mln\n    NOTE: Company said net is before extraordinary items and\ntaxes and declined to provide data on those items\n Reuter\n&#3;',0
'USDA TO CONDUCT SURVEY FOR AVIAN INFLUENZA U.S. Agriculture Department animal\nhealth officials are conducting a national survey of live-bird\nmarkets and auctions to check for signs of avian influenza, an\ninfectious viral disease of poultry, the department said.\n    The survey will locate poultry dealers and live-bird\nmarkets that sell live birds directly to the consumer and once\nthe dealers and markets are identified, there will be tests to\ndetermine any past or present exposure to avian influenza\nviruses, it said.\n    In 1983-84, an outbreak of avian influenza in Pennsylvania,\nMaryland, Virginia and New Jersey cost taxpayers 65 mln dlrs to\ncontrol and required the destruction of more than 17 mln birds,\nit said.\n    The survey is expected to be completed by April 15.\n Reuter\n&#3;',0
'TWO HUNDRED PEOPLE RESCUED FROM SINKING FERRY About 200 people were rescued, some\nbadly hurt, from a sinking cross Channel ferry carrying\napproximately 540 people off the Belgian port of Zeebrugge, a\nport control spokesman said.\n    The spokesman, contacted by telephone, said only one third\nof car ferry, the Herald of Free Enterprise owned by the\nBritish company Townsend Thoresen, remained above water.\n    Divers have been sent down to try to rescue passengers\nbelieved trapped in the ferry, which was on its way from\nZeebrugge to the English port of Dover and capsized just off\nthe pier, he added\n Reuter\n&#3;',0
'FOXBORO CO &lt;FOX> 4TH QTR LOSS Oper shr loss one ct vs loss 2.65 dlrs\n    Oper net loss 100,000 vs loss 32.7 mln\n    Revs 142.3 mln vs 168.8 mln\n    12 mths\n    Oper shr profit 57 cts vs loss 2.76 dlrs\n    Oper net profit 7,072,000 vs loss 34.2 mln\n    Revs 544.0 mln vs 572.2 mln\n    Note: 1986 oper net excludes tax credits of 2,149,000 dlrs\nfor qtr and 2,200,000 dlrs for 12 mths. Includes restructuring\ncharges of 120 mln dlrs for qtr, 527 mln dlrs for 12 mths.\n Reuter\n&#3;',0
'LYNG SAYS NO DECISIONS TAKEN AT CABINET COUNCIL U.S. Agriculture Secretary Richard\nLyng said no decisions were taken today at a White House\nEconomic Policy Council meeting.\n    Speaking to reporters on his return from the meeting, Lyng\nsaid only about five minutes of the session dealt with\nagriculture issues.\n    \"It was not a decision making meeting,\" Lyng said.\n    Aides to Lyng earlier said the administration\'s agriculture\nlegislative proposals would be the farm-related topic on the\nagenda. Lyng would not comment on what farm issues were\ndiscussed.\n    Asked how he would respond to farm groups and Congressmen\nurging the U.S. to offer a wheat bonus to the Soviet Union,\nLyng said he would be listen but be \"non-committal.\"\n Reuter\n&#3;',1
'TREASURY BALANCES AT FED FELL ON MARCH 5 Treasury balances at the Federal\nReserve fell on March 5 to 3.467 billion dlrs from 3.939\nbillion dlrs the previous business day, the Treasury said in\nits latest budget statement.\n    Balances in tax and loan note accounts fell to 14.350\nbillion dlrs from 14.391 billion dlrs on the same respective\ndays.\n    The Treasury\'s operating cash balance totaled 17.817\nbillion dlrs on March 5 compared with 18.330 billion dlrs on\nMarch 4.\n Reuter\n&#3;',0
'NICARAGUA, ROMANIA, PARAGUAY LOSE TRADE RIGHTS President Reagan formally ended\npreferential duty-free trade treatment for exports from\nNicaragua, Romania and Paraguay under the Generalized System of\nPreferences (GSP).\n    He took the action after determining that the three\ncountries are not taking steps to give their workers\ninternationally recognized rights.\n    U.S. Trade Representative Clayton Yeutter had announced the\nintended action on January 2. The United States conducts no\ntrade with Nicaragua and very little trade with Romania and\nParaguay.\n Reuter\n&#3;',0
'U.S. FEEDGRAIN 0/92 SUPPORTERS EVALUATE POSITION Advocates of a 0/92 plan for\nfeedgrains will likely delay offering their proposals if a\ndisaster aid bill before the House Agriculture Committee is\nscaled back to include only 1987 winter wheat, congressional\nsources said.\n    The disaster aid bill, introduced by Rep. Glenn English\n(D-Okla.), sparked sharp controversy with its proposals to\nimplement a 0/92 program for 1987 wheat and 1988 winter wheat.\n    An agreement has been reached to trim the bill back to 1987\nwheat, but supporters of a 0/92 feedgrains plan said even that\nscaled-down version would not be equitable for farmers.\n    Unless the English bill pertains only to 1987 winter wheat,\nit is more than a simple disaster payment and feedgrains should\nbe treated equally, they said.\n   If the bill is narrowed to just winter wheat, then\nsupporters of a 0/92 feedgrains amendment will probably not\noffer their proposals next week, sources said.\n   English has agreed to support an amendment by Rep. Charles\nStenholm (R-Tex) to narrow the bill to 1987 wheat only, but\nwhether he would also back a further reduction is unclear.\n    Agricultural aides to English said the congressman\'s first\nchoice is to make the option available to all 1987 wheat\nfarmers. However, if the political reality is that disaster aid\nfor winter wheat farmers would be unavailable because of\ncontroversy over spring wheat, then English might consider an\neven greater cutback in the bill, they said.\n    Under a 0/92 plan, farmers could forego planting and still\nreceive 92 pct of deficiency payments.\n    Rep. Arlan Stangeland (R-Minn.) and Harold Volkmer (D-Mo.)\nhave both expressed interest in expanding the English bill to\ninclude a 0/92 program for feedgrains.\n    An aide said Stangeland does not want to reopen the farm\nbill, but to be fair to all crops.\n    Only a small percentage of spring wheat farmers would\nlikely sign up for 0/92 since the incentives to plant are\ngreater than to idle the land, economists said.\n    Opponents to a 0/92 feedgrains program argue it is\npremature to make major changes in the farm bill and that the\nHouse Agriculture Committee needs to study more closely the\nimpacts of such a program.\n Reuter\n&#3;',1
'ALFIN INC &lt;AFN> 2ND QTR JAN 31 LOSS Shr loss 20 cts vs profit 14 cts\n    Net loss 1,417,000 vs profit 933,000\n    Revs 5,623,000 vs 5,403,000\n    Avg shrs 6,957,300 vs 7,115,248\n    Six mths\n    Shr loss 18 cts vs profit 43 cts\n    Net loss 1,269,000 vs profit 3,079,000\n    Revs 15.7 mln vs 14.2 mln\n    Avg shrs 7,195,720 vs 7,115,248\n Reuter\n&#3;',0
'BELL AND HOWELL &lt;BHW> COMPLETES SALE OF UNIT Bell and Howell Co said it\ncompleted the sale of its computer output microfilm business to\nCOM Products Inc, a unit of privately-held &lt;LeBow Industries\nInc>.\n    The sum of the deal was not disclosed.\n    The unit makes a device that prints data directly from a\ncomputer onto microfilm.\n Reuter\n&#3;',0
'U.S. BUSINESS LOANS FALL 618 MLN DLRS IN FEB 25 WEEK, FED SAYS\n ',0
'U.S. BUSINESS LOANS FALL 618 MLN DLRS Business loans on the books of major\nU.S. banks, excluding acceptances, fell 618 mln dlrs to 278.88\nbillion dlrs in the week ended February 25, the Federal Reserve\nBoard said.\n    The Fed said that business loans including acceptances fell\n897 mln dlrs to 281.23 billion dlrs.\n Reuter\n&#3;',0
'HYPONEX CORP &lt;HYPX> YEAR NET Shr 85 cts vs 1.20 dlrs\n    Net 5,130,000 vs 7,236,000\n    Revs 93.6 mln vs 91.9 mln\n Reuter\n&#3;',0
'HMO AMERICA INC &lt;HMOA> YEAR LOSS Shr loss 33 cts vs profit 38 cts\n    Net loss 2,359,978 vs profit 2,805,389\n    Revs 76.2 mln vs 61.8 mln\n    Avg shrs 7,096,886 vs 7,392,586\n Reuter\n&#3;',0
'TECHNIGEN PLATINUM CORP IN METALS FIND Technigen Platinum corp said initial\nresults of a 13-hole drilling program on its R.M. Nicel\nplatinum property in Rouyn-Noranda, Quebec, indicate extensive\nnear-surface zones highly enriched in gold, platinum and\npalladium.\n    The metals were found in rocks on the periphery of a\nsulphide deposit.\n    It said values of up to 0.073 ounce of platinum, 0.206\nounce palladium, three pct copper and 4.5 pct nickel were found\nover a drill section of 13 feet.\n Reuter\n&#3;',0
'AMERICAN PORK CONGRESS TO BE OVERHAULED IN 1988 The National Pork Producers Council,\nNPPC, announced at this year\'s American Pork Congress, APC,\nthat the Congress and trade show will be divided into two parts\nin 1988.\n    Next years APC, held in Atlanta, will be a business session\nonly and will continue to be the first week of March.\n    The trade show is being changed into a new international\nevent called the World Pork Expo. The first expo will be held\nin June 1988 in Des Moines with an expanded format, they said.\n    Executive vice-president Orville Sweet said the decision to\nspilt the show and Congress came about because there are\nproducers who never get to see the trade show floor.\n    \"It makes sense that we divide the business session from\nthe trade show,\" Sweet said.\n Reuter\n&#3;',0
'&lt;DTD ENTERPRISES INC> IN REORGANIZATION DTD Enterprises Inc said it filed an\n8-K report indicating that &lt;EaglesLair Development Corp> had\nassumed control of the company under a reorganization plan\nsigned last month.\n    The company said D. Gerald Lach, president of EaglesLair,\nwas named president and a director of DTD.\n    In addition, DTS\'s board resigned and EaglesLair appointed\nnew directors, the company said.\n Reuter\n&#3;',0
'SCHWAB SAFE CO &lt;SS> UPS PAYOUT Qtly div 13 cts vs 12 cts prior\n    Pay April 17\n    Record March 31\n Reuter\n&#3;',0
'PHYSICIANS INSURANCE CO &lt;PICO> 4TH QTR NET Shr 31 cts vs 53 cts\n    Net 960,143 dlrs vs 1,631,011 dlrs\n    Revs 27.4 mln dlrs vs 18.9 mln dlrs\n    Avg shrs 3,079,533 vs 3,096,095\n    12 mths\n    Shr 1.01 dlrs vs 92 cts\n    Net 3,113,337 dlrs vs 2,855,755 dlrs\n    Revs 106.5 mln dlrs vs 78.3 mln dlrs\n    Avg shrs 3,079,516 vs 3,089,140\n    NOTE: per share amounts for qtr and year prior have been\nrestated to reflect a six-for-five stock split in August 1986.\n    Revs for qtr include capital gains of 3,049,564 vs\n2,010,972, and for year of 9,841,204 vs 5,798,995.\n    Revs for qtr include non-insurance revenues of 1,627,518 vs\n1,550,329, and for year of 7,289,973 vs 4,639,162.\n    Revs for qtr include life subsidiary account deposits of\n548,538 vs 241,465, and for year of 2,104,840 vs 300,404.\n Reuter\n&#3;',0
'BRADLEY &lt;BRLY> ANNOUNCES LONG-TERM LEASE Bradley Real Estate Trust said it signed\na 99-year lease for property in downtown Minneapolis to BCED\nMinnesota Inc.\n    The lease will increase net income by about 24 cts a share\non a post-February 1987 three-for-two stock split basis. For\n1986, the Trust reported net income of 1.3 mln dlrs or 38 cts a\nshare on a post-split basis.\n    Bradley will also be entitled to a one-time additional\nrental payment of 30 cts a share upon BCED entering into a\nspace lease with a prime national tenant and a share in a\nportion of net cash flow from operations on the property.\n Reuter\n&#3;',0
'DUMEZ UNIT HAS 94 PCT OF WESTBURNE (WBI) (Dumez Investments I Inc) said 94.7 pct\nof Westburne International Industries Ltd\'s outstanding common\nshares have been deposited under its takeover bid.\n    It said it has received about 11,070,000 shares under its\n22.50 dlrs per share offer which expired yesterday.\n    Dumez said it will proceed to acquire the remaining common\nshares to give it 100 pct ownership of Westburne.\n    Dumez is a private company owned jointly by (Dumez S.A.)\nand (Unicorp Canada Corp).            \n Reuter\n&#3;',0
'CANADIAN NATURAL RESOURCES TO SELL STAKE &lt;Canadian Natural Resources\nLtd> said it agreed in principle to sell 80 pct of its working\ninterest in certain producing and non-producing natural gas\nproperties located in southwestern Saskatchewan.\n    The transaction is expected to close on April 1, 1987, the\ncompany said. It did not identify the buyer nor give the\nselling price.\n    Proceeds will be used to satisfy a February 1987 repayment\ndemand by one of the company\'s lenders. Any excess proceeds\nwill be added to working capital, the company said.\n Reuter\n&#3;',0
'MALRITE BUYS COX\'S RADIO STATION UNIT &lt;Malrite Guaranteed Broadcast Partners\nL.P.> said it bought WTRK Inc from &lt;Cox Enterprises Inc> for\n13.8 mln dlrs in cash.\n    It said WTRK owns and operates WTRK-FM, a Philadelphia\nradio station. Transfer of the license for the sation has been\napproved by the Federal Communications Commission.\n    Malrite Guaranteed said it is a limited partnerhip formed\nto acquire and operate radio and tv stations. It said Malrite\nCommunications Group Inc &lt;MALR> is the general partner.\n Reuter\n&#3;',0
'CYACQ EXTENDS TENDER FOR CYCLOPS &lt;CYL> Cyacq Corp said it extended its 80\ndlr a share tender offer for Cyclops Corp to March 20 from\ntoday.\n    Cyacq was formed by Citicorp Capital Investors Ltd and\nAudio Video Affiliates INc &lt;AVA> to acquire Cyclops. THe tender\noffer began on February six.\n    The offer is conditioned upon at least 80 pct of the\noutstanding shares and at least 80 pct of the voting securities\nbeing tendered before expiration of the offer.\n    As of March six, only 353 shares of Cyclops\' 4.1 mln\noutstanding shares had been tendered.\n Reuter\n&#3;',0
'MONO GOLD SAYS PARTNERSHIP AGREES TO BUY SHARES &lt;Mono Gold Mines\nInc> said &lt;NIM and Co Ltd> Partnership agreed to buy\nflow-through shares with an aggregate purchase price of up to\n300,000 dlrs.\n    It said, subject to fulfillment of certain conditions, the\nprice of the shares to NIM will be 79.6 cts per share, and said\nit will issue 376,955 shares to the partnership.\n    Mono also said options to buy up to 300,000 dlrs of its\ncapital stock at 65 cts per share expire March three. It said\n39,000 options have been exercised to net the company 25,530\ndlrs to be added to working capital.\n Reuter\n&#3;',0
'USLICO CORP &lt;USVC> INCREASES DIVIDEND Qtly div 22 cts vs 20 cts prior\n    payable March 27\n    Record March 18\n Reuter\n&#3;',0
'USAIR GROUP REQUESTS TRANSPORTATION DEPARTMENT ORDER TWA TO DIVEST STAKE\n ',0
'DIPLOMAT ELECTRONICS &lt;DPEC> TO CUT COSTS Diplomat Electronics Corp said it\nwill reduce expenses by four mln dlrs a year in an effort to\nstem losses and return to a positive net worth.\n    The company also said certain lenders agreed to take a 24\npct stake in the company by converting seven mln dlrs of debt\ninto preferred stock.\n    Diplomat said it will cut costs by several means, including\ndismissal of 100 workers at its corporate headquarters,\nconsolidation of its warehousing and shipping operations and\nreduction of management salaries. Moreover, it said it will\nrelocate its headquarters to Glendale, Calif.\n   \n Reuter\n&#3;',0
'U.S. CORN GROWERS BLAST CANADA CORN RULING Canada\'s ruling in favor of a duty on\nU.S. corn was a keen disappointment to the National Corn\nGrowers Association and has set a dangerous precedent for other\nnations to follow, said Mike Hall, lobbyist for the\nassociation.\n    \"The French corn growers will clearly charge ahead now and\njust change corn to corn gluten feed\" in their complaint, Hall\ntold Reuters.\n    A Canadian government agency ruled today that U.S. farm\npolicies are causing injury to Canadian corn farrmers and\nsupported an earlier imposed countervailing duty of about 85\ncts per bushel.\n    \"This was cleary a political decision,\" Hall said. \"The\namount of corn we export to Canada is insignificant.\"\n    The unexpected ruling appeared to be based on the agrument\nthat Canada bases its corn prices on U.S. futures prices and\nthat American farm policy has driven down these prices, thus\ncausing lower prices to Canadian farmers and larger government\npayments through its farm stabilization program, Hall said.\n    Hall said this is a new definition for injury, but that\nother nations might also now apply this same argument to attack\nU.S. farm programs.\n    The French corn growers could now charge that U.S. farm\nprograms create an unfair subsidy for corn gluten feed, Hall\nsaid. The French have long wanted to control the imports of\nU.S. corn gluten feed into the community, saying that the\nimported feed was unfairly displacing European grain.\n Reuter\n&#3;',1
'DOLLAR GENERAL CORP &lt;DOLR> QTLY DIVIDEND Qtly div five cts vs five cts prior\n    Payable April three\n    Reocrd March 20\n Reuter\n&#3;',0
'HEALTHCARE SERVICES &lt;HSAI> SEES WRITE-OFFS Healthcare Services Of America\nInc said it will write off about 16 mln dlrs in non-recurring\nexpenses in 1986.\n    It also said it expects income from operations to be about\nbreakeven for 1986 and the estimated loss for the year to be\nabout the same as the writeoffs.\n    Results will be released by March 31, 1987.\n    Included in the writeoffs were six mln dlrs in\ndevelopmental costs, six mln dlrs in unamortized loan costs and\ndebt discounts and four mln dlrs in other non-recurring costs.\n    The company said it continues to be in default of certain\nfinancial and non-financial covenants set forth in its major\nloan documents.\n    It said negotiations continue with the banks, but has no\nassurance that such funding will continue.\n    It said it authorized Smith barney, Harris Upham and Co to\nseek a business combination with third parties.\n    Healthcare also said the board has authorized the sale or\nlease of certain assets to reduce the cash required from the\nrevolving credit line for completion of current construction\nprojects.\n    For the year ended December 31, 1985 Healthcare reported\nnet income of 3.5 mln dlrs on sales of 54.4 mln dlrs\n Reuter\n&#3;',0
'USAIR &lt;U> SEEKS ORDER AGAINST TWA &lt;TWA> USAir Group said it sought the help\nof the U.S. Department of Transportation in its takeover fight\nwith Trans World Airlines Inc, asking the Department to order\nTWA to sell its USAir shares.\n    \"What they have done is in direct violation of the Federal\nAviation Act,\" USAir said.\n    It said TWA week filed a cursory application with the\nDepartment of Transportation for approval of its proposed 1.65\nbillion dlr takeover of USAir.\n    USAir rejected the offer and said it asked the Department\nof Transportation to dismiss the application.\n    USAir said it requested the dismissal because TWA avoided\npre-merger notification requirements, and also did not provide\na competitive and public interest analysis required under\nregulations.\n    USAir said if the application is dismissed, TWA would be\nlimited to buying only 1.5 pct of its 31.7 mln outstanding\nshares. If the application is approved, TWA could buy up to 10\npct, it said. TWA has said it owns less than 10 pct of USAir\'s\nstock.\n    TWA today revealed that it has increased its holdings to\nmore than four mln USAir shares, 15 pct of the outstanding.\n    TWA vice president general counsel Mark Buckstein said the\ncompany had made appropriate filings with the DOT and was in\ncompliance with the law.\n Reuter\n&#3;',0
'PARK-OHIO INDUSTRIES INC &lt;PKOH> 4TH QTR NET Shr loss 52 cts vs profit 1.07 dlr\n    Net loss 2,917,000 vs profit 5,963,000\n    Revs 34.1 mln vs 40.3 mln\n    Year\n    Shr loss 1.39 dlr vs profit 1.24 dlr\n    Net loss 7,749,000 vs profit 6,946,000\n    Revs 138.6 mln vs 186.2 mln\n    NOTE: 1986 net includes certain non-recurring charges of\nabout 5,506,000 dlrs for a number of items.\n    1985 4th qtr and yr net includes extraordinary credit of\n4,974,000 dlrs or 89 cts per share.\n Reuter\n&#3;',0
'BMC INDUSTRIES INC &lt;BMC> 4TH QTR LOSS Shr loss 1.20 dlrs vs loss 1.97 dlrs\n    Net loss 6,248,000 vs loss 10.2 mln\n    Revs 33.1 mln vs not given\n    Year\n    Shr loss 1.25 dlrs vs loss 13.44 dlrs\n    Net loss 6,508,000 vs loss 69.6 mln\n    Revs 123.4 mln vs not given\n    NOTE: Results include charges of five mln dlrs or 96 cts\nshr for 1986 qtr and year, compared with charge of 72.2 mln\ndlrs or 13.94 dlrs shr in prior year from discontinued\noperations and disposal of discontinued operations.\n Reuter\n&#3;',0
'UNITED COMPANIES &lt;UNCF> DECLARES STOCK DIVIDEND United Companies Financial Corp\nsaid its board declared a two pct stock dividend payable APril\neight to holders of record March 17.\n    The board also declared a regular quarterly cash dividend\nof 12.5 cts payable April one to holders of record March 16.\n                                                   \n Reuter\n&#3;',0
'U.S. FARM PROGRAMS HELP CANADIAN CORN PRODUCERS An American Farm Bureau\nFederation (AFBF) official said that far from hurting Canadian\ncorn producers, U.S. farm programs benefit all foreign\nproducers.\n    AFBF president Dean Kleckner made the comments in response\nto the ruling earlier today by the Canadian Import Tribunal\nthat subsidized U.S. corn imports were injurious to Canadian\ngrowers. The tribunal upheld a countervailing duty of 84.9 U.S.\ncents a bushel.\n    \"Farm Bureau specialists went to Ottawa and testified\nprevious U.S. farm programs have actually benefited all foreign\nproducers by reducing the amount of corn grown in the U.S. (and\nlosing market share), while exerting an upward influence on the\nprice of corn Worldwide,\" he said.\n Reuter\n&#3;',1
'U.N. ISSUES REPORT ON NATURAL GAS CLAUSES The U.N. Centre on Transnational\nCorporations has issued a report containing guidelines and\nrecommendations for negotiating natural gas clauses in\nagreements between transnational petroleum corporations and\nhost countries.\n    The U.N. said the report was aimed at promoting petroleum\nexploration in areas perceived as being gas prone. The 49-page\nreport contains an in-depth examination of the problems of gas\ndevelopoment and looks at different ways in which contractual\nterms might deal with the risks in gas development associated\nwith pricing, marketing and volume.\n Reuter\n&#3;',0
'TAFT&lt;TFB> BIDDERS WOULD SELL ENTERTAINMENT UNIT A proposed buyout of Taft Broadcasting\nCo by Dudley Taft and other investors includes a plan to sell\nthe company\'s Entertainment Group, according to one of the\ninvestors.\n    Jonathan Nelson, managing director of Narragansett Capital\nCorp &lt;NARR>, which is participating in the buyout plan,\ndeclined to say if buyers have already been lined up for the\nEntertainment Group. \"We are considering selling the group,\"\nNelson said. Wall Street analysts said any of the Hollywood\nfilm studios which might be interested.\n    Taft Broadcasting Co did not comment on the 145 dlr per\nshare offer. Taft has 9.2 mln shares outstanding, of which 12\npct are owned by the Taft and Ingalls families.\n    Dudley Taft relinquished the title of president in July but\ncontinues as vice chairman of the company.\n    Taft-Narragansett requsted a response to its proposal by\nMarch 12.\n    If the plan is accepted, Taft would be a private company\nfinanced by high yield bonds and bank debt, Nelson said.\nNarragansett is an investment management company specializing\nin leveraged buyout transactions.\n    Taft shares climbed 19 to 151-1/2, causing arbitrageurs to\nsay investors believe the bidders may raise their price.\n    Robert M. Bass, who controls 25 pct of the stock, and\nAmerican Financial Corp, holder of 15 pct, did not return\ntelephohe calls seeking comment.\n    But Dennis McAlpine, analyst at Oppenheimer and Co, said \"I\ndon\'t think it\'s worth 150 dlrs.\" He noted Taft recently agreed\nto sell a group of independent television stations at a loss.\nHe said the entertainment group, which includes the\nHanna-Barbara animation studios, is currently hampered by a\nglut of animated product.\n    Taft Broadcasting has never commented on reports that its\nmajor stockholders met recently to discuss a break-up of the\ncompany.\n    MacAlpine said there are lots of options for reshaping the\ncompany with a distribution of various pieces to the major\nshareholders among the possibilities.\n    Analyst Alan Gottesman of L.F. Rothschild, Unterberg Towbin\nInc said the Bass group has been increasing its stake in the\nbelief the company would be worth more with a change in its\nstrategy. He said Bass pushed for sale of the independent\ntelevision stations because the company paid too much.\n Reuter\n&#3;',0
'POSITIVE OUTLOOK TEMPERED IN U.S. DEBT FUTURES Higher oil prices and stronger than\nexpected U.S. employment growth led to sharp losses in U.S.\ninterest rate futures and diminished what had been a positive\nchart outlook, financial analysts said.\n    The increase of 319,000 in non-farm payroll employment\nduring February was above market expectations for a rise of\n170,000 to 200,000 jobs and sparked selling in Treasury bond\nfutures that drove the June contract through key technical\nsupport at 101-2/32 at the opening Friday, they noted.\n    \"I don\'t like that fact that we had a close below 101,\"\nsaid Prudential Bache analyst Fred Leiner. The 101-2/32 level\nin the June bond contract had been the top of a three-month\ntrading range, which when penetrated during the rally Wednesday\nled to bullish forecasts by chartists.\n    But analysts called it a false breakout on the weekly\ncharts when the June bond closed at 100-10/32 Friday.\n    Some also forecast that the high of the week at 101-19/32\nmay signal a bearish double top formation portending steep\nlosses.\n    \"I tend to go along with the double top scenario,\" said\nNorthern Futures analyst Eileen Rico.\n    Rico noted that the possible formation, along with the fact\nthat the rally of the last two weeks in bond futures has\noccurred on relatively low volume, were negative signals.\n    Despite what could be a negative chart outlook, Leiner\nremains cautiously optimistic, and June bonds should find\nsupport between 100 and 99-16/32 next week.\n    The optimistic outlook, as well as Leiner\'s expectation\nthat the yield curve will flatten in the near term, is based on\nan improving inflation outlook.\n    With the dollar stable and economic data giving the Federal\nReserve little room to ease monetary policy, \"the inflation\noutlook is improving,\" Leiner said, and that should lead to\nrelatively stronger bond prices than bill and Eurodollar\nprices.\n    Still, Leiner noted that the recent rise in oil prices\nremains a concern for the inflation outlook.\n    Oil rose during the week on reports that OPEC nations were\nmaintaining production quotas and official prices, and got an\nextra boost Friday due to the suspension of oil exports from\nEcuador after an earthquake Thursday.\n    \"The runup in crude oil will be a short-lived phenomenon,\"\nsaid Carroll McEntee and McGinley analyst Brian Singer.\n    The rise in oil prices over the past week has been largely\n\"media induced,\" Singer said. He noted that even though OPEC\nproduction may be within quotas, \"oil stocks are at\ntremendously high levels.\"\n    Although the Ecuador situation could cause a delay, oil\nprices will eventually decline to the lows of late February, he\nsaid, and that will be a supportive influence for bond prices.\n Reuter\n&#3;',0
'SANDOX BUYS STAUFFER SEEDS Sandoz Corp\'s Northrup King Co said\nit bought Stauffer Seeds, a unit of Stauffer Chemical Co.\n    Terms were not disclosed.\n Reuter\n&#3;',0
'ENERGEN &lt;EGN> BUYS MUNICIPAL GAS SYSTEM Energen Corp said it has\nacquired the distribution system of the City of Clanton, Ala.\nfor about 1.2 mln dlrs.\n    The 1,800 customer system is the fourth municipal system\nacquired by Energen\'s Alabama Gas subsidiary since October\n1986, adding a total of 9,600 customers.\n Reuter\n&#3;',0
'SIERRA PACIFIC RESOURCES INC &lt;SRP> DIVIDEND Qtly div 43 cts vs 43 cts prior\n    Payable May one\n    Record April 15\n Reuter\n&#3;',0
'METEX CORP &lt;MTX> 4TH QTR DEC 28 Shr 22 cts vs 49 cts\n    Net 296,994 vs 657,416\n    Revs 6.5 mln vs 9.5 mln\n    Year\n    Shr 78 cts vs 1.51 dlrs\n    Net 1.0 mln vs 2.0 mln\n    Revs 27.6 mln vs 29.4 mln\n Reuter\n&#3;',0
'HOUSTON OIL TRUST &lt;HO> OMITS MARCH DISTRIBUTION Houston Oil Trust said there will be no\ncash distribution to the unit holders in March.\n    The most significant factor for the lack of a distribution\nthis month is the establishment of additional special cost\nescrow accounts, the company said, adding, that there may be no\ncash distribution in other months or during the remainder of\nthe year.\n    For March, the working interest owner will place 1.9 mln\ndlrs in special cost escrow accounts.\n Reuter\n&#3;',0
'MONOCLONAL ANTIBODIES &lt;MABS> BUYS COMPANY Monoclonal Antibodies Inc\nsaid it signed an agreement in principle to buy &lt;Genesis Labs\nInc> for about 10 mln dlrs of common stock.\n    The agreement is subject to shareholders approval and other\nconditions.\n Reuter\n&#3;',0
'U.S. TREASURY PROPOSES SOME S. AFRICAN IMPORTS The Treasury proposed allowing \ntemporary imports of South African uranium ore and uranium\noxide until July 1 under certain conditions pending\nclarification of anti-apartheid laws passed by Congress last\nfall.\n    The proposal to be published in the Federal Register next\nweek requests written congressional and public comment within\n60 days and deals with uranium ore and oxide that is imported\nfor U.S. processing and exporting to third countries.\n    The Treasury said it proposed allowing the temporary\nimports because it felt Congress had not intended when it\npassed the comprehensive South African sanctions bill last fall\n-- overriding President Reagan\'s veto -- to hurt U.S. industry.\n    \"The domestic uranium conversion industry and the federal\ngovernment\'s enrichment industry could be seriously injured in\na manner not intended by Congress if the . . . import ban on\nuranium ore and oxide were implemented to bar imports for\nprocessing and export through a mistaken interpretation of the\nact,\" the Treasury brief said.\n    The Treasury said an outright U.S. ban of uranium ore and\noxide might cause foreign electric utilities to divert their\nSouth African origin ore and oxide to other countries including\nthe Soviet Union for processing.\n    Treasury said it would allow imports of the South African\nore and oxide until July 1 for processing and re-export\n\"provided that the imported ore or oxide is accompanies by a\nlicense for importation issued by the Nuclear Regulatory\nCommission.\"\n    The Treasury brief also proposed allowing U.S.-origin goods\nto be imported temporarily from South African state-controlled\norganizations for repair or servicing in the United States.\n    \"The U.S. Customs will allow such importation to be made\nunder bond,\" the brief said.\n    The South African sanctions law, enacted by the United\nStates to protest the apartheid laws of racial segregation\npracticed by South Africa\'s white minority government,\nprohibited imports of uranium ore and oxide, iron and steel,\ncoal and textiles at the end of 1986.\n Reuter\n&#3;',0
'BRANIFF INC &lt;BAIR> 4TH QTR LOSS JAN 31 Shr loss 37 cts vs loss 13 cts\n    Net loss 4.5 mln vs loss 1.5 mln\n    Revs 63.3 mln vs 53.8 mln\n    Year\n    Shr loss 74 cts vs profit 1.87 dlr\n    Net loss 9.0 mln vs profit 23.0 mln\n    Revs 239.5 mln vs 244.3 mln\n    NOTE:1986 net includes extraordinary gain of 10.6 mln dlrs\nfrom tax loss carryforward in year and loss of 198,000 dlrs in\n4th qtr.\n Reuter\n&#3;',0
