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test/18061 | test/18061 |@title turkish:1 trade:1 deficit:1 widen:1 april:1 |@word turkey:1 trade:1 deficit:2 widen:2 382:1 mln:4 dlrs:4 april:3 275:1 march:1 273:1 1986:1 state:1 statistics:1 institute:1 say:1 first:2 quarter:1 1987:1 1:3 23:1 billion:5 20:1 year:1 early:1 export:2 total:1 702:1 compare:2 import:2 08:1 four:1 month:1 worth:1 2:1 69:1 3:1 92:1 | TURKISH TRADE DEFICIT WIDENS IN APRIL
Turkey's trade deficit widened to 382 mln
dlrs in April from 275 mln in March and 273 mln in April 1986,
the State Statistics Institute said.
The deficit for the first quarter of 1987 widened to 1.23
billion dlrs from 1.20 billion a year earlier.
April exports totalled 702 mln dlrs compared with imports
of 1.08 billion.
Exports in the first four months were worth 2.69 billion
dlrs compared with imports of 3.92 billion.
|
test/18062 | test/18062 |@title united:1 financial:1 banking:1 ufbc:1 1st:1 qtr:1 net:1 |@word shr:1 four:1 ct:2 vs:3 21:1 net:2 29:1 862:1 152:1 826:1 note:1 full:1 name:1 united:1 financial:1 banking:1 cos:1 inc:1 include:1 loan:1 loss:1 provision:1 nil:1 40:1 000:1 dlrs:1 | UNITED FINANCIAL BANKING <UFBC.O> 1ST QTR NET
Shr four cts vs 21 cts
Net 29,862 vs 152,826
NOTE: Full name is United Financial Banking Cos Inc. Net
includes loan loss provision nil vs 40,000 dlrs.
|
test/18065 | test/18065 |@title brown:1 group:1 inc:1 bg:1 1st:1 qtr:1 may:1 2:1 net:1 |@word shr:1 56:1 ct:2 vs:4 42:1 net:1 10:1 030:1 000:4 7:1 833:1 sale:1 392:1 1:1 mln:2 339:1 6:1 avg:1 shrs:1 17:1 966:1 18:1 709:1 | BROWN GROUP INC <BG> 1ST QTR MAY 2 NET
Shr 56 cts vs 42 cts
Net 10,030,000 vs 7,833,000
Sales 392.1 mln vs 339.6 mln
Avg shrs 17,966,000 vs 18,709,000
|
test/18066 | test/18066 |@title u:1 energy:1 secretary:1 see:1 high:1 oil:1 price:1 |@word energy:2 secretary:1 donald:1 hodel:4 say:4 expect:1 oil:5 price:2 rise:1 significantly:1 year:1 2000:2 probably:2 around:1 33:1 dlrs:2 barrel:3 current:1 dollar:1 anticipate:1 significant:1 increase:1 thirty:1 three:1 unreasonable:1 tell:1 senate:1 committee:1 loss:1 domestic:2 production:1 shutdown:1 stripper:1 10:1 day:1 less:1 well:1 low:1 permanent:1 also:1 concern:1 decline:1 exploration:2 urge:1 congress:1 approve:1 section:1 1002:1 arctic:1 national:1 wildlife:1 refuge:1 alaska:1 geologic:1 condtion:1 area:1 favorable:1 discovery:1 field:1 equal:1 nearby:1 prudhoe:1 bay:1 | U.S. ENERGY SECRETARY SEES HIGHER OIL PRICES
Energy Secretary Donald Hodel said he
expects oil prices to rise significantly by the year 2000,
probably to around 33 dlrs a barrel in current dollars.
'I do anticipate a significant increase (by 2000).
Thirty-three dlrs a barrel is not unreasonable,' Hodel told the
Senate Energy Committee.
Hodel said the loss of some domestic oil production through
the shutdown of stripper (10 barrels a day or less) wells
because of low prices was probably permanent. He said he was
also concerned by the decline in domestic oil exploration.
Hodel urged Congress to approve oil exploration in section
1002 of the Arctic National Wildlife Refuge in Alaska. He said
geologic condtions in the area were favorable for the discovery
of oil fields equal to those in nearby Prudhoe Bay.
|
test/18068 | test/18068 |@title northwest:1 teleproductions:1 nwtl:1 4th:1 qtr:1 net:1 |@word shr:2 15:1 ct:4 vs:6 16:1 net:2 239:1 034:1 264:1 485:1 sale:2 2:2 932:1 782:1 664:1 853:1 year:1 57:1 45:1 929:1 524:1 741:1 121:1 10:1 9:2 mln:1 708:1 792:1 | NORTHWEST TELEPRODUCTIONS <NWTL.O> 4TH QTR NET
Shr 15 cts vs 16 cts
Net 239,034 vs 264,485
Sales 2,932,782 vs 2,664,853
Year
Shr 57 cts vs 45 cts
Net 929,524 vs 741,121
Sales 10.9 mln vs 9,708,792
|
test/18071 | test/18071 |@title judge:1 decide:1 burlington:1 bur:1 several:1 day:1 u:1 |@word district:1 court:3 judge:3 eugene:1 gordon:2 say:9 decide:1 next:1 day:2 whether:1 grant:4 burlington:11 industries:1 inc:2 request:3 stop:2 takeover:3 samjens:2 acquisition:1 corp:1 know:1 come:1 preliminary:1 injunction:5 listen:1 argument:1 attorney:3 1:2 2:2 long:1 time:1 since:1 deluge:1 much:1 information:4 consider:1 present:1 issue:1 opinion:1 side:1 winner:1 effort:1 samjen:7 claim:1 partnership:2 use:1 illegally:1 obtain:1 confidential:1 company:1 make:2 offer:3 also:2 allege:1 would:5 anti:1 trust:1 violation:1 form:1 asher:1 edelman:1 dominion:3 textiles:1 canada:1 succeed:1 last:1 week:1 top:1 76:1 dlr:3 per:3 share:3 morgan:2 stanley:2 group:1 ms:1 one:2 44:1 billion:1 bid:2 72:1 dlrs:2 lawyer:3 tell:1 win:1 control:1 argue:1 kill:1 jay:1 greenfield:2 suffer:1 irreparable:1 harm:1 get:1 amount:1 money:2 compensate:1 could:1 sell:1 holding:1 95:1 mln:1 want:1 irving:1 nathan:2 reiterate:1 provide:2 james:1 ammeen:3 former:1 executive:1 crucial:1 decision:1 attempt:1 rely:1 insider:1 jim:1 name:1 defendant:1 ask:1 dismiss:1 lawsuit:1 client:1 rule:1 today:1 | JUDGE TO DECIDE BURLINGTON <BUR> IN SEVERAL DAYS
U.S. District Court Judge Eugene
A. Gordon said he will decide 'in the next few days' whether to
grant Burlington Industries Inc's request to stop a takeover by
Samjens Acquisition Corp.
'I do not know how I come down on this preliminary
injunction,' Gordon said after listening to arguments by
attorneys for 1-1/2 days.
'It's been a long time since I was deluged with as much
information as I have been. I have to consider what's been
presented and issue an opinion on this. Both sides cannot be
winners,' he said.
Burlington requested the injunction to stop a takeover
effort by Samjens, claiming the partnership used illegally
obtained confidential information about the company to make its
offer. It also alleges there would be anti-trust violations if
Samjens, formed by Asher Edelman and Dominion Textiles Inc of
Canada, were to succeed.
Samjens last week topped a 76 dlr per share offer for
Burlington from Morgan Stanley Group <MS> by one dlr per share.
Morgan Stanley made its 2.44 billion dlr bid after Samjens bid
72 dlrs per share for Burlington.
Burlington lawyers told the court if the injunction is not
granted Samjens would win control of Burlington. A Samjens
lawyer argued that if the judge granted the injunction it would
'kill the offer'
Jay Greenfield, an attorney for Samjens, said the
partnership would suffer irreparable harm if the injunction
were granted. 'There's only one Burlington,' he said. 'If we
cannot get that then no amount of money can compensate us.'
Greenfield also said Samjens could sell its holdings in
Burlington for 95 mln dlrs. 'We don't want that. We're not in
this for the money,' he said.
Irving Nathan, a Burlington lawyer, reiterated that
information provided by James Ammeen, a former Burlington
executive, was crucial to Dominion's decision to attempt o
takeover of Burlington.
'Dominion relied on the information provided by the insider
Jim Ammeen,' Nathan said.
An attorney for Ammeen, who is named as a defendant, asked
the court to dismiss the lawsuit against his client. The judge
said he would not rule on the request today.
|
test/18075 | test/18075 |@title allegis:1 aeg:1 sell:1 canadian:1 hotel:1 |@word allegis:7 corp:1 say:7 create:1 limited:5 partnership:7 sell:2 select:1 hotel:6 canada:1 public:2 offering:2 expect:1 raise:1 excess:1 350:1 mln:2 canadian:2 dlrs:2 complete:2 end:1 september:1 similar:1 westin:4 last:1 year:1 san:1 francisco:1 chicago:1 report:1 pretax:1 gain:1 80:1 6:1 result:1 spokesman:3 plan:2 stage:1 long:1 time:1 unrelated:1 recent:1 corporate:2 development:1 firm:1 recapitalization:1 threaten:1 takeover:1 investor:1 group:1 lead:2 coniston:1 partner:1 pilot:1 united:1 airlines:1 unit:1 company:2 yet:1 identify:1 offer:3 sale:1 100:2 pct:3 ownership:1 vancouver:1 calgary:1 ottawa:1 toronto:2 interest:1 hilton:1 international:1 hotels:1 montreal:1 60:1 edmonton:1 richard:1 ferris:1 chairman:1 statement:1 limit:1 allow:1 convert:1 unrecognized:1 asset:1 appreciation:1 cash:1 proceed:1 earlier:1 money:1 use:1 general:1 need:1 merrill:1 lynch:1 capital:1 markets:1 wood:1 gundy:1 underwriter:1 outside:1 u:1 | ALLEGIS <AEG> TO SELL CANADIAN HOTELS
Allegis Corp said it has created a
limited partnership to sell selected hotels in Canada to the
public.
It said the offering is expected to raise in excess of 350
mln Canadian dlrs and will be completed by the end of
September.
The limited partnership will be similar to the Westin
Hotels limited partnership completed last year when Allegis
sold Westin hotels in San Francisco and Chicago. Allegis
reported a pretax gain of 80.6 mln dlrs as a result of that
partnership.
An Allegis spokesman said the offerings have been in
planning stages for a long time and are unrelated to recent
corporate developments such as the firm's recapitalization plan
and a threatened takeover by an investor group lead by Coniston
Partners and the pilots of its United Airlines unit.
The spokesman said the company has not yet identified which
of its Canadian hotels will be offered for sale.
Allegis has 100 pct ownership in Westin hotels in
Vancouver, Calgary, Ottawa and Toronto, and 100 pct interest in
Hilton International hotels in Toronto and Montreal. It owns 60
pct of the Westin in Edmonton.
Richard Ferris, chairman of Allegis, said in a statement
the hotel limited partnerships allow the company to convert
unrecognized asset appreciation into cash.
As with the proceeds from the earlier limited partnership,
the money will be used for general corporate needs, the
spokesman said.
Merrill Lynch Capital Markets and Wood Gundy will be lead
underwriters for to the public offering. The limited
partnership will be offered outside the U.S, Allegis said.
|
test/18079 | test/18079 |@title raycomm:1 transworld:1 racm:1 make:1 acquisition:1 |@word raycomm:1 transworld:1 industries:1 inc:2 say:3 agree:1 principle:1 subject:1 board:1 approval:1 acquire:1 spiridellis:3 consulting:2 group:1 privately:1 hold:1 computer:1 service:1 firm:1 number:1 common:1 share:2 determine:1 base:1 pretax:1 earning:1 five:2 year:2 period:1 company:1 gaurantee:1 almost:1 issue:1 attain:1 price:1 level:1 range:1 nine:1 dlrs:2 two:1 issuance:1 revenue:1 3:1 500:1 000:1 calendar:1 1986:1 | RAYCOMM TRANSWORLD <RACM.O> TO MAKE ACQUISITION
Raycomm Transworld Industries Inc
said it has agreed in principle subject to board approvals to
acquire Spiridellis Consulting Group Inc, a privately-held
computer services consulting firm, for a number of common
shares to be determined based on pretax earnings of Spiridellis
over a five-year period.
The company said it will gaurantee that almost all of the
issued shares will attain price levels ranging from five to
nine dlrs each for two years after their issuance.
It said Spiridellis had revenues of 3,500,000 dlrs in
calendar 1986.
|
test/18080 | test/18080 |@title 3:1 mmm:1 acquires:1 control:1 data:1 cda:1 unit:1 |@word minnesota:1 mining:1 manufacturing:1 say:2 acquire:1 computerized:1 hospital:3 information:2 system:2 business:3 control:2 data:2 corp:1 term:1 disclose:1 145:1 employee:1 supply:1 computer:1 software:2 integrate:1 3:1 divestiture:1 part:1 strategy:1 focus:1 narrow:1 market:1 | 3M <MMM> ACQUIRES CONTROL DATA <CDA> UNIT
Minnesota Mining and Manufacturing
said it acquired a computerized hospital information systems
business from Control Data Corp.
Terms were not disclosed.
The business, which has 145 employees and supplies
computers and software for hospital information systems, will
be integrated into 3M's hospital software business.
Control Data said the divestiture was part of its strategy
to focus on narrower markets.
|
test/18085 | test/18085 |@title lukman:1 see:1 stable:1 oil:1 price:1 next:1 couple:1 year:1 |@word current:1 crude:2 oil:7 price:5 18:1 20:1 dlrs:2 barrel:2 remain:1 stable:2 next:1 couple:1 year:2 rise:1 one:1 two:1 per:1 annum:1 keep:1 inflation:1 opec:3 president:1 rilwanu:1 lukman:4 say:6 speak:1 talk:2 swedish:2 trade:1 official:2 depend:2 upon:1 output:2 restraint:1 non:1 producer:1 government:1 also:1 nigerian:1 minister:1 make:1 remark:1 whilst:1 connection:1 third:1 world:2 debt:1 industrialise:1 nation:1 control:1 necessarily:1 mean:1 high:2 energy:2 bill:1 industrial:2 nations:1 although:1 low:1 see:1 around:1 beginning:1 may:1 appear:1 beneficial:1 country:1 import:2 would:2 lead:1 wastage:1 overdependence:1 fuel:1 long:1 term:1 turn:1 bring:1 swing:1 back:1 extremely:1 add:1 sweden:1 heavily:1 dependent:1 suffer:1 major:1 crisis:1 mid:1 1970:1 spiral:1 | LUKMAN SEES STABLE OIL PRICE FOR NEXT COUPLE YEARS
The current crude oil price of between
18 and 20 dlrs a barrel will remain stable over the next couple
of years, rising only one to two dlrs a barrel per annum to
keep up with inflation, OPEC President Rilwanu Lukman said.
Lukman, who was speaking during talks with Swedish trade
officials, said the stable price depended upon output restraint
by both OPEC and non-OPEC oil producers, Swedish government
officials said.
They said Lukman, who is also Nigerian oil minister, made
the remarks whilst talking about the connection between Third
World debt and industrialised nations.
Crude oil output controls did not necessarily mean higher
energy bills for the world's industrial nations, Lukman said.
Although very low oil prices, such as those seen around the
beginning of the year, may appear beneficial for the industrial
countries that depend on imported energy, they would only lead
to wastage and overdependence on the fuel in the long term, he
said.
This in turn would bring a swing back to extremely high
prices, he added.
Sweden, heavily dependent on imported oil, suffered a major
crisis in the mid-1970s, when oil prices spiralled.
|
test/18086 | test/18086 |@title bundesbank:1 credit:1 policy:1 change:1 unlikely:1 |@word bundesbank:15 unlikely:3 change:1 credit:2 policy:5 central:1 bank:5 council:3 meet:4 thursday:1 last:4 session:1 venice:5 summit:3 banking:1 economist:3 money:9 market:7 dealer:8 say:18 steer:1 rate:14 lower:1 month:6 cut:8 security:1 repurchase:2 pact:3 cap:1 move:3 lead:1 interest:4 near:1 future:1 saarbruecken:2 meeting:2 follow:1 news:2 conference:2 around:2 1030:1 gmt:1 official:1 note:2 usually:1 call:4 outside:1 frankfurt:1 necessarily:1 herald:1 vice:1 president:2 helmut:1 schlesinger:2 today:2 reason:1 supply:1 growth:1 show:1 sign:1 slow:1 may:2 dollar:1 stable:1 mark:2 tell:1 reuters:1 tokyo:1 open:1 representative:1 office:1 west:3 german:3 economy:2 pick:1 contract:1 seasonally:1 adjust:1 1:1 2:1 one:2 pct:10 first:1 quarter:1 likely:2 hold:2 3:10 50:3 70:2 range:1 switch:1 tender:1 minimum:4 bid:4 allocate:4 fund:3 55:3 set:2 signal:1 indicate:1 could:5 maybe:1 low:3 even:1 discount:2 lombard:2 winfrie:1 hutmann:2 chief:1 schroeder:2 munchmeyer:1 hengst:2 investment:1 gmbh:1 werner:1 chrobok:3 manage:1 partner:1 bethmann:2 among:1 industrial:1 country:1 historical:1 germany:2 would:8 little:2 impact:1 case:1 report:1 slack:1 demand:1 company:1 swim:1 liquidity:1 therefore:2 reluctant:1 make:2 better:1 reserve:2 frightened:1 use:2 powder:1 bring:1 line:1 new:1 structure:1 since:1 practical:1 significance:1 act:1 want:1 diplomatic:1 gesture:3 next:1 week:4 karl:1 otto:1 poehl:2 often:1 clear:1 past:1 oppose:1 mere:1 eyewash:1 really:1 bonn:4 government:2 taxis:2 rather:3 ease:1 monetary:2 pressure:2 struggle:1 finance:1 already:1 announce:1 tax:3 fall:2 revenue:1 widen:1 federal:1 budget:1 deficit:2 hard:1 see:1 weak:1 position:1 risk:1 increase:1 muenchmeyer:1 anything:1 happen:1 must:1 fiscal:1 expect:2 convincing:1 measure:1 continue:1 normalize:1 60:1 75:1 85:1 yesterday:1 much:1 five:1 friday:1 push:1 end:1 distortion:1 come:2 upwards:1 later:1 major:1 round:1 payment:1 behalf:1 customer:1 start:1 begin:1 june:1 15:1 two:1 public:1 holiday:1 also:1 distort:1 tomorrow:1 late:1 unchanged:2 fully:1 replace:1 5:2 billion:1 outgoing:1 possible:1 6:2 represent:1 tightening:1 however:1 scale:1 accept:1 try:1 get:1 full:1 allocation:1 heavily:1 another:1 issue:1 lift:1 restriction:1 private:1 european:2 currency:1 unit:1 ecu:3 soon:1 suitable:1 place:1 announcement:2 unity:1 capital:1 saarland:1 border:1 france:1 twice:1 french:1 occupation:1 century:1 number:1 technical:1 legal:1 matter:1 still:1 resolve:1 instance:1 account:1 treat:1 purpose:1 | BUNDESBANK CREDIT POLICY CHANGES UNLIKELY
The Bundesbank is unlikely to change
credit policies when its central bank council meets on Thursday
for its last session before the Venice summit, banking
economists and money market dealers said.
The Bundesbank steered money market rates lower last month
by cutting the rate on its security repurchase pacts, and is
unlikely to cap this move with a cut in leading interest rates
in the near future, they said.
The council will meet in Saarbruecken, and the meeting will
be followed by a news conference at around 1030 GMT.
But Bundesbank officials noted that a news conference was
usually called when the council meets outside Frankfurt, and
did not necessarily herald any policy moves.
Bundesbank Vice-President Helmut Schlesinger said today
there was no reason to cut interest rates because money supply
growth had shown no signs of slowing in May and the dollar was
stable against the mark.
Schlesinger told Reuters in Tokyo, where the Bundesbank has
opened a representative office, that the West German economy
was now picking up after contracting by a seasonally adjusted
1/2 to one pct in the first quarter.
Money market dealers said call money was likely to hold in
a 3.50/70 pct range for most of this month, after the
Bundesbank switched last month to tenders by interest rate at a
minimum bid rate of 3.50 pct, allocating funds at 3.55 pct.
'They have set this signal and indicated they could maybe
lower market rates even further, but not with the discount or
Lombard,' Winfried Hutmann, chief economist of Schroeder,
Munchmeyer, Hengst Investment GmbH said.
Werner Chrobok, managing partner at Bethmann Bank, said
German rates were among the lowest in industrial countries and
around historical lows for West Germany.
A further cut in rates would have little impact on the
economy as banks are in any case reporting slack credit demand,
with companies swimming in liquidity, Chrobok said.
The Bundesbank would therefore be reluctant to make a move
on interest rates, when this would be better held in reserve.
'The Bundesbank is frightened of using up its powder,' he said.
A cut in the discount or Lombard rates, to bring them in
line with the new structure of money market rates since last
month, would have little practical significance, dealers said.
The Bundesbank could therefore act on these if it wanted a
diplomatic gesture before next week's Venice summit.
But Bundesbank President Karl Otto Poehl has often made it
clear in the past he opposes such gestures as mere 'eyewash.'
Economists said it was really up to the Bonn government to
cut taxes, rather than for the Bundesbank to ease monetary
policy, to meet pressure on West Germany at the Venice summit.
But with Bonn struggling to finance already announced tax
cuts and falling tax revenue widening the federal budget
deficit, it is hard to see how Bonn could cut taxes further.
'The Bonn government will be in a very weak position in
Venice because they can't risk increasing the deficit further,'
said Schroeder, Muenchmeyer, Hengst's Hutmann.
Bethmann's Chrobok said if anything is to happen before
Venice, it must be in fiscal rather than monetary policy. 'But I
don't expect any convincing measures,' he said.
Money market dealers noted that call money continued to
normalize today, falling to 3.60/70 pct from 3.75/85 yesterday
and as much as five pct on Friday when it was pushed up by
month-end distortions.
Call money could come under upwards pressure later this
month because of a major round of tax payments by banks on
behalf of customers, starting in the week beginning June 15.
Two public holidays that week could also distort the market.
Dealers said they expected the Bundesbank to allocate funds
tomorrow in the latest repurchase pact at an unchanged 3.55
pct, after setting an unchanged minimum bid rate of 3.50 pct,
and to fully replace the 5.5 billion marks in an outgoing pact.
But dealers said it was possible the Bundesbank would
allocate funds at 3.6 pct rather than 3.55. That would not
represent a tightening of policy, however.
Because the Bundesbank scales down bids which it allocates
at the minimum accepted rate, some banks may try to get a full
allocation by bidding heavily at 3.6 pct, dealers said.
On another issue, Poehl has said the Bundesbank is likely
to lift restrictions on private use of the European Currency
Unit (ECU) at one of its meetings soon.
Saarbruecken would be a suitable place for an announcement
on this gesture to European unity, as it is the capital of the
Saarland bordering France, and was twice under French
occupation this century.
But dealers said an ECU announcement was unlikely to come
this week, as a number of technical and legal matters had still
to be resolved, for instance how German ECU accounts would be
treated for minimum reserve purposes.
|
test/18093 | test/18093 |@title alcan:1 reduce:1 cost:1 plan:1 smelter:1 |@word alcan:1 aluminium:1 ltd:1 say:3 cut:2 expect:1 cost:4 plan:2 laterriere:1 quebec:2 smelter:3 use:3 enhance:1 grande:2 baie:2 reduction:1 technology:1 company:1 decision:1 prebaked:1 anode:1 technolgy:1 sebree:1 ky:1 take:1 primarily:1 reason:1 result:1 estimate:2 total:1 hold:1 450:1 mln:3 u:1 dlrs:3 low:1 end:1 range:1 mid:1 may:1 first:1 phase:1 150:1 project:1 175:1 225:1 | ALCAN REDUCES COST OF PLANNED SMELTER
Alcan Aluminium Ltd said it has cut the
expected cost of its planned Laterriere, Quebec, smelter by
using enhanced Grande Baie reduction technology.
The company said the decision to use prebaked anode
technolgy used at its Grande Baie, Quebec, and Sebree, Ky.,
smelters was taken primarily for cost reasons.
As a result, it said, the estimated total cost of the
planned smelter will be held to 450 mln U.S. dlrs, the low end
of the range estimated in mid-May, while the cost of the first
phase was cut to 150 mln dlrs from the projected 175-225 mln
dlrs.
|
test/18095 | test/18095 |@title german:1 expert:1 say:1 economic:1 stimulus:1 |@word west:6 german:4 government:7 independent:2 council:3 economic:4 expert:5 believe:4 stimulation:2 economy:2 inappropriate:1 spokesman:1 friedhelm:1 ost:3 say:5 statement:2 release:1 meeting:2 chancellor:1 helmut:1 kohl:1 senior:1 official:5 1987:2 ecomomic:1 growth:5 1:4 2:3 two:4 pct:5 achievable:1 add:1 intensification:1 already:2 expansionary:1 monetary:1 financial:1 policy:1 call:1 pressure:1 germany:2 adapt:1 external:2 factor:2 would:1 increase:1 regularly:1 use:1 term:1 change:1 refer:1 fall:3 dollar:2 severely:1 damage:1 export:3 bonn:3 expect:3 pick:1 year:3 could:1 still:1 1986:2 level:1 along:1 lead:1 industrial:1 country:1 agree:1 package:1 measure:1 paris:1 february:1 aim:1 stem:1 stance:1 take:1 back:1 position:2 ahead:1 next:2 week:1 seven:1 nation:1 summit:1 venice:1 press:1 u:1 partner:1 boost:1 stress:1 stimulate:1 since:1 tax:1 cut:2 due:1 1990:1 stretch:1 budget:1 bundesbank:1 also:1 rule:1 quick:1 interest:1 rate:2 although:1 see:1 market:1 continue:1 low:1 prediction:2 slight:1 downward:1 revision:1 forecast:2 make:1 last:1 november:1 many:1 forecaster:1 revise:1 light:1 downturn:1 compare:1 4:1 expansion:1 | GERMAN EXPERTS SAY NO FURTHER ECONOMIC STIMULUS
The West German government's independent
council of economic experts believes a further stimulation of
the economy is inappropriate, government spokesman Friedhelm
Ost said.
A statement released by Ost after a meeting of Chancellor
Helmut Kohl and senior government officials with the council
said the experts believed 1987 ecomomic growth of 1-1/2 to two
pct was achievable.
It added the council believed 'an intensification of the
already expansionary stimulation of monetary and financial
policy is not called for.'
Ost's statement said experts believed further pressure on
West Germany to adapt to external economic factors would not
increase.
The government regularly uses the term 'changed external
economic factors' when referring to the fall of the dollar,
which has severely damaged West German exports. Bonn officials
have said they expect exports to pick up during the year, but
could still fall below the 1986 level.
Along with other leading industrial countries, West Germany
agreed to a package of measures at a meeting in Paris in
February aimed at stemming the fall of the dollar.
The stance taken by the experts backs up the official
position of the West German government ahead of next week's
seven nation summit in Venice, where Bonn is expected to be
pressed by the U.S. And other partners to boost its economy.
West German government officials have stressed Bonn is not
in a position to stimulate growth further since tax cuts due
next year and 1990 are already stretching the budget.
The Bundesbank has also ruled out a quick cut in official
interest rates although it sees market rates continuing low.
The experts' prediction for economic growth this year of
between 1-1/2 and two pct is a slight downward revision from a
forecast made last November when two pct growth was forecast.
Many independent forecasters have revised down 1987
predictions in light of the downturn in exports. The government
itself has said it expects growth of just under two pct,
compared with a 2.4 pct expansion in 1986.
|
test/18096 | test/18096 |@title royal:1 bank:1 canada:1 ry:1 2nd:1 qtr:1 april:1 30:1 net:1 |@word shr:4 basic:2 83:2 ct:3 vs:10 1:4 05:1 dlrs:5 dilute:2 80:1 96:1 net:2 116:2 157:1 000:4 125:1 146:1 six:1 mth:1 71:2 2:2 27:1 63:1 06:1 230:1 265:2 535:1 loan:1 67:1 93:1 billion:6 65:1 50:2 deposit:1 84:1 25:1 asset:1 100:1 00:1 97:1 avg:1 shrs:1 4:1 mln:2 102:1 | ROYAL BANK OF CANADA (RY.TO) 2ND QTR APRIL 30 NET
Shr basic 83 cts vs 1.05 dlrs
Shr diluted 80 cts vs 96 cts
Net 116,157,000 vs 125,146,000
Six mths
Shr basic 1.71 dlrs vs 2.27 dlrs
Shr diluted 1.63 dlrs vs 2.06 dlrs
Net 230,265,000 vs 265,535,000
Loans 67.93 billion vs 65.50 billion
Deposits 83.71 billion vs 84.25 billion
Assets 100.00 billion vs 97.50 billion
Avg shrs 116.4 mln vs 102.1 mln
|
test/18099 | test/18099 |@title ex:1 usda:1 official:1 urge:1 chicken:1 handling:1 label:1 |@word former:2 u:1 agriculture:3 department:2 official:1 urge:2 require:2 package:2 chicken:3 label:2 handling:1 cook:1 instruction:1 protect:1 public:1 disease:1 carol:1 tucker:1 foreman:3 president:2 heidepriem:1 assistant:1 secretary:1 food:1 consumer:2 service:1 tell:1 house:1 subcommittee:1 every:3 hour:1 day:2 22:1 americans:1 become:1 victim:1 contaminate:1 salmonella:1 say:4 two:1 half:1 week:1 american:2 die:1 salmonellosis:1 complication:1 arise:1 incidence:1 poisoning:1 poultry:2 increase:1 steadily:1 past:1 several:2 year:1 usda:2 follow:1 national:1 academy:1 sciences:1 recommendation:2 remind:1 preparation:1 procedure:1 necessary:1 avoid:1 illness:1 bird:6 wash:1 thoroughly:1 defeathere:1 defeathering:1 machine:1 clean:1 time:1 condemn:1 intestine:1 puncture:1 visible:1 fecal:1 contamination:1 chiller:1 water:1 change:1 often:1 kenneth:1 blaylock:1 federation:1 government:1 employee:1 industry:1 move:1 away:1 current:1 inspection:3 could:1 prove:1 disastrous:1 strengthen:1 slow:1 line:1 speed:1 foundation:1 upon:1 new:1 technique:1 overlay:1 | EX-USDA OFFICIAL URGES CHICKEN HANDLING LABELS
A former U.S. Agriculture Department
official urged the department to require that packages of
chicken be labeled with handling and cooking instructions to
protect the public from disease.
Carol Tucker Foreman, President of Foreman and Heidepriem
and a former assistant secretary of agriculture for food and
consumer services, told a House Agriculture subcommittee, 'every
hour of every day, 22 Americans become victims of chicken
contaminated with salmonella.'
She said every two and a half weeks, an American dies of
salmonellosis or complications arising from it and the
incidence of poisoning from poultry has increased steadily over
the past several years.
Foreman said USDA should follow a National Academy of
Sciences recommendation to label chicken packages to remind
consumers of preparation procedures necessary to avoid illness.
She urged USDA to require that birds be washed thoroughly
before they are defeathered and that defeathering machines be
cleaned several times a day, that birds be condemned if their
intestines are punctured or there is visible fecal
contamination and that chiller water be changed more often.
Kenneth Blaylock, President of the American Federation of
Government Employees, said a poultry industry recommendation to
move away from the current bird-by-bird inspection could prove
'disastrous.' He said a strengthened bird-by-bird inspection with
slower line speeds was the foundation upon which new inspection
techniques should be overlaid.
|
test/18101 | test/18101 |@title century:1 ccc:1 buy:1 puerto:1 rican:1 co:1 |@word century:4 communications:1 corp:1 say:3 enter:1 agreement:1 acquire:1 asset:1 community:3 cable:4 vision:1 puerto:2 rico:2 associates:1 associate:1 company:2 12:1 mln:1 dlrs:1 anticipate:1 ml:1 media:1 partners:1 lp:1 jointly:1 call:1 television:1 co:1 great:1 san:2 juan:2 join:1 acquisition:1 management:1 locate:1 | CENTURY <CCC.O> TO BUY TO PUERTO RICAN CO
Century Communications Corp
said it had entered into an agreement to acquire all the assets
of <Community Cable Vision of Puerto Rico Associates> and its
associated companies for about 12 mln dlrs.
Century said it anticipates that <ML Media Partners LP>,
which jointly owns with Century a company called <Cable
Television Co> of greater San Juan, will join in acquisition
and management of Community Cable.
Century said Community Cable is located in San Juan, Puerto
Rico.
|
test/18104 | test/18104 |@title u:1 weigh:1 lift:1 japanese:1 trade:1 curb:1 |@word white:2 house:2 complete:1 new:1 review:1 japanese:5 semiconductor:4 trading:1 practice:1 yet:1 decide:1 whether:1 trade:2 sanction:3 levy:2 japan:5 last:1 april:2 lift:3 u:5 official:3 say:5 president:1 economic:3 policy:1 council:1 look:1 adherence:1 1986:1 pact:3 yesterday:1 announcement:2 may:2 make:1 shortly:1 hint:1 100:1 pct:1 tariff:2 300:1 mln:1 dlrs:1 export:1 could:1 modify:1 find:1 honor:2 portion:1 also:1 note:1 unlikely:1 would:2 meeting:1 world:2 seven:1 major:1 power:2 venice:1 june:1 8:1 10:1 add:1 curb:2 complicate:1 cooperation:1 serve:1 blunt:1 congressional:1 criticism:1 reagan:3 administrtation:1 take:1 tough:1 action:1 reduce:1 deficit:1 impose:2 17:1 retaliation:1 failure:1 commitment:1 end:1 dumping:1 market:2 less:1 production:1 cost:1 open:1 good:1 certain:1 television:1 set:1 personal:1 computer:1 hand:1 hold:1 tool:1 soon:1 evidence:1 pattern:1 adhere:1 | U.S. WEIGHS LIFTING JAPANESE TRADE CURBS
The White House has completed a new
review of Japanese semiconductor trading practices but has not
yet decided whether trade sanctions levied against Japan last
April should be lifted, U.S. officials said.
They said the president's Economic Policy Council looked at
Japan's adherence to the 1986 U.S.-Japanese semiconductor pact
yesterday and that an announcement may be made shortly.
But there was no hint what the announcement might be.
Officials have said the 100 pct tariffs on 300 mln dlrs of
Japanese exports could be modified if Japan was found to be
honoring a portion of its semiconductor pact.
But they also noted that the White House has said it was
unlikely the tariffs would be lifted before the meeting of the
world's seven major economic powers in Venice on June 8-10.
The officials added that while the curbs complicated
U.S.-Japanese economic cooperation, they did serve to blunt
Congressional criticism that the Reagan Administrtation was not
taking tough actions to reduce he U.S. trade deficit.
Reagan imposed the sanctions on April 17 in retaliation for
Japan's failure to honor commitments to end dumping
semiconductors in world markets at less than production costs
and to open its own market to U.S. goods.
The sanctions were levied on certain Japanese television
sets, personal computers and hand-held power tools.
Reagan, in imposing the curbs, said they would be lifted as
soon as there was evidence of a pattern that Japan was adhering
to the pact.
|
test/18106 | test/18106 |@title u:1 house:1 speaker:1 wright:1 concern:1 |@word interest:2 rate:2 rise:2 greenspan:2 u:1 house:1 speaker:1 wright:1 concern:1 | U.S. HOUSE SPEAKER WRIGHT CONCERNED of INTEREST RATE RISE UNDER GREENSPAN
U.S. HOUSE SPEAKER WRIGHT CONCERNED of INTEREST RATE RISE UNDER GREENSPAN
|
test/18108 | test/18108 |@title energy:1 secretary:1 see:1 high:1 oil:1 price:1 |@word energy:2 secretary:1 donald:1 hodel:5 say:6 expect:1 oil:7 price:2 rise:1 significantly:1 year:1 2000:3 probably:2 around:1 33:1 dlrs:2 barrel:4 current:1 dollar:1 anticipate:1 significant:1 increase:1 thirty:1 three:1 unreasonable:1 tell:1 senate:1 committee:1 loss:1 domestic:3 production:4 shutdown:1 stripper:1 10:1 day:1 less:1 well:1 low:1 permanent:1 also:1 concern:1 decline:2 exploration:2 urge:1 congress:1 approve:1 section:2 1002:1 arctic:1 national:1 wildlife:2 refuge:1 alaska:1 geologic:1 condtion:1 area:3 favorable:1 discovery:1 field:2 equal:2 nearby:1 prudhoe:3 bay:3 could:2 contain:1 potentially:1 recoverable:1 resource:1 9:1 2:1 billion:1 amount:1 nearly:1 currently:1 provide:1 almost:1 one:1 fifth:1 u:1 new:1 begin:2 time:1 without:1 endanger:1 caribou:1 | ENERGY SECRETARY SEES HIGHER OIL PRICES
Energy Secretary Donald Hodel said he
expects oil prices to rise significantly by the year 2000,
probably to around 33 dlrs a barrel in current dollars.
'I do anticipate a significant increase (by 2000).
Thirty-three dlrs a barrel is not unreasonable,' Hodel told the
Senate Energy Committee.
Hodel said the loss of some domestic oil production through
the shutdown of stripper (10 barrels a day or less) wells
because of low prices was probably permanent. He said he was
also concerned by the decline in domestic oil exploration.
Hodel urged Congress to approve oil exploration in section
1002 of the Arctic National Wildlife Refuge in Alaska. He said
geologic condtions in the area were favorable for the discovery
of oil fields equal to those in nearby Prudhoe Bay.
'The area could contain potentially recoverable oil
resources of more than 9.2 billion barrels, an amount nearly
equal to the Prudhoe Bay oil field, which currently provides
almost one-fifth of U.S. domestic production,' Hodel said.
He said production from the new section could begin about
the time Prudhoe Bay production begins to decline in 2000
without endangering caribou or other wildlife in the area.
|
test/18109 | test/18109 |@title danish:1 reserve:1 rise:1 10:1 5:1 billion:1 crown:1 may:1 |@word denmark:1 net:5 official:1 reserve:4 rise:2 60:1 629:1 billion:9 crown:5 may:5 48:1 380:1 april:2 39:1 481:1 1986:2 central:2 bank:5 say:3 monthly:1 balance:2 sheet:1 report:1 total:2 include:1 hold:1 commercial:1 major:1 saving:1 correct:1 exchange:1 rate:1 adjustment:1 58:1 373:1 47:1 835:1 32:1 443:1 statement:3 public:1 loan:1 transaction:1 account:2 capital:3 import:2 0:1 1:2 register:2 private:2 9:1 sale:2 danish:1 bond:1 country:1 2:1 5:1 purchase:1 foreign:1 security:1 add:2 figure:1 movement:2 provisional:1 estimate:1 yet:1 unregistered:1 therefore:1 possible:1 basis:1 draw:1 conclusion:1 development:1 external:1 current:1 | DANISH RESERVES RISE 10.5 BILLION CROWNS IN MAY
Denmark's net official reserves rose
to 60.629 billion crowns in May from 48.380 billion in April,
against 39.481 billion in May 1986, the Central Bank said in
its monthly balance sheet report.
Total net reserves, including reserves held by commercial
and major savings banks and corrected for exchange rate
adjustments, rose to 58.373 billion crowns in May from 47.835
billion in April, against 32.443 billion in May 1986.
The Bank said in a statement that public loan transactions
accounted for net capital import of 0.1 billion crowns in May,
with net registered private capital imports of 9.1 billion.
'Of this, the net sale of Danish crown bonds to other
countries totalled about 2.5 billion crowns. There was balance
between the purchase and sale of foreign securities,' the
statement added.
The Central Bank said that figures for private bank
reserves and registered capital movements were provisional and
there was no estimate yet of unregistered movements.
'It is therefore not possible on this basis to draw
conclusions about the developments of the external current
account,' the statement added.
|
test/18111 | test/18111 |@title stewart:1 stew:1 sell:1 plant:1 sara:1 lee:1 sle:1 |@word stewart:3 sandwiches:1 inc:1 say:2 sell:1 coffee:4 roast:1 plant:1 sara:1 lee:1 corp:1 superior:3 food:1 subsidiary:1 undisclosed:1 term:1 company:1 become:1 exclusive:1 packer:1 squire:1 label:1 product:1 market:1 provide:1 equipment:1 service:1 distribution:1 suppoort:1 account:1 | STEWART <STEW.O> SELLS PLANT TO SARA LEE <SLE>
Stewart Sandwiches Inc said it has
sold its coffee roasting plant to Sara Lee Corp's Superior
Coffee and Foods subsidiary for undisclosed terms.
The company said Superior will become the exclusive packer
of Squire labeled coffee products, which are marketed by
Stewart, and Stewart will provide equipment, service and
distribution suppoort for some Superior coffee accounts.
|
test/18120 | test/18120 |@title aep:1 industries:1 inc:1 aepi:1 2nd:1 qtr:1 april:1 30:1 |@word shr:2 21:1 ct:4 vs:8 11:1 net:3 638:1 000:5 340:1 sale:2 16:1 9:1 mln:4 14:1 7:1 avg:2 shrs:2 3:3 007:1 048:1 006:2 250:1 1st:1 half:1 41:2 1:3 224:1 142:1 31:1 29:1 8:1 704:1 2:1 757:1 631:1 note:1 current:1 year:1 period:1 include:1 nonrecurre:1 gain:1 213:1 dlrs:1 | AEP INDUSTRIES INC <AEPI.O> 2ND QTR APRIL 30
Shr 21 cts vs 11 cts
Net 638,000 vs 340,000
Sales 16.9 mln vs 14.7 mln
Avg shrs 3,007,048 vs 3,006,250
1st half
Shr 41 cts vs 41 cts
Net 1,224,000 vs 1,142,000
Sales 31.1 mln vs 29.8 mln
Avg shrs 3,006,704 vs 2,757,631
NOTE: Current year net both periods includes nonrecurring
gain 213,000 dlrs.
|
test/18128 | test/18128 |@title tight:1 far:1 east:1 freight:1 space:1 hit:1 sugar:1 market:1 |@word far:1 eastern:1 sugar:3 market:1 hit:1 tightening:1 available:1 nearby:1 freight:2 space:2 need:1 move:1 raw:2 various:2 destination:2 notably:1 thailand:1 trader:2 say:4 result:1 hardening:1 rate:1 area:1 quote:1 12:2 5:2 17:1 dlrs:2 tonne:2 per:1 day:1 depend:1 shipment:4 recent:1 fixing:1 charterer:1 consider:1 combine:1 contract:1 inadequate:1 shipping:1 source:1 note:1 13:1 raws:1 cargo:2 await:1 port:1 thai:1 report:1 trade:1 basis:1 july:2 new:1 york:1 future:1 less:1 25:1 point:1 june:1 15:1 old:1 business:1 | TIGHT FAR EAST FREIGHT SPACE HITS SUGAR MARKET
The Far Eastern sugar market is being hit
by a tightening in available nearby freight space needed to
move raw sugar to various destinations, notably from Thailand,
traders said.
This has resulted in a hardening of freight rates in those
areas. These are now being quoted between 12.5 and 17.5 dlrs a
tonne per day, depending on shipment and destination, against
recent fixings below 12 dlrs a tonne.
Charterers are considering combining contracted shipments
because of inadequate space, shipping sources said, noting 13
raws cargoes are awaiting shipment from various ports.
A cargo of Thai raw sugar was reported traded at basis July
New York futures less 25 points for June/July 15 shipment,
traders said. But others said this was old business.
|
test/18135 | test/18135 |@title ncnb:2 ncb:1 merge:1 centrabank:1 |@word corp:1 say:4 board:2 governor:1 federal:1 reserve:1 system:1 approve:1 application:1 merge:1 centrabank:1 inc:1 baltimore:2 expect:1 complete:1 july:1 1:1 company:3 approval:1 include:1 dismissal:1 protest:1 base:1 maryland:2 alliance:2 responsible:1 investing:1 ncnb:2 performance:1 community:2 reinvestment:1 act:1 want:1 merger:1 block:1 ground:1 inadequately:1 serve:1 credit:1 financial:1 need:1 low:1 income:1 minority:1 market:1 deny:1 claim:1 | NCNB <NCB> TO MERGE WITH (CENTRABANK)
NCNB Corp said the board of
governors of the Federal Reserve System approved its
application to merge with (CentraBank Inc) of Baltimore,
expected to be completed July 1.
The company said the board's approval included the
dismissal of a protest by the Baltimore-based Maryland Alliance
for Responsible Investing against NCNB's performance under the
Community Reinvestment Act.
The company said Maryland Alliance wanted the merger
blocked on the grounds that NCNB inadequately served the credit
and financial needs of low-income and minority communities in
its markets.
The company said it denied the claim.
|
test/18136 | test/18136 |@title leutwiler:1 want:1 firm:1 mark:1 sfr:1 |@word fritz:1 leutwiler:5 chairman:1 bbc:1 ag:1 brown:1 boveri:1 und:1 cie:1 former:1 swiss:8 national:6 bank:10 president:1 urge:1 declare:1 intent:2 achieve:1 rise:2 rate:3 mark:4 franc:4 speech:1 shareholder:2 say:7 gradually:1 relation:2 would:5 desirable:1 standpoint:1 industrial:1 export:1 regard:1 sustain:1 industry:1 simply:1 appropriate:1 declaration:1 issue:1 could:2 positive:1 effect:1 serve:1 10:1 year:1 head:1 central:3 step:3 contradict:1 target:1 monetary:3 stability:2 bring:1 close:1 course:1 watchful:1 eye:1 policy:1 tell:1 realistically:1 fact:1 persuasive:1 reason:1 german:1 currency:2 quote:1 almost:1 20:1 pct:1 low:1 spokesman:2 example:1 stable:1 paritie:1 long:1 period:1 time:1 exchange:1 make:1 market:1 impossible:1 influence:1 individual:1 parity:1 separately:1 support:1 value:1 dollar:2 even:1 conjunction:1 without:1 put:1 jeopardy:1 last:1 recommend:1 key:1 strong:1 lie:1 united:1 states:1 | LEUTWILER WANTS FIRMER MARK AGAINST SFR
Fritz Leutwiler, chairman of
BBC AG Brown Boveri und Cie and a former Swiss National Bank
president, urged the National Bank to declare its intent of
achieving a rising rate for the mark against the Swiss franc.
In a speech to shareholders, Leutwiler said, 'A gradually
rising rate for the mark in relation to the franc would be
desirable from the standpoint of industrial exports and with
regard to sustaining Swiss industry.'
'Simply an appropriate declaration of intent by our bank of
issue (Swiss National Bank) could have a positive effect,' he
said.
Leutwiler, who served 10 years as head of the Swiss central
bank, said such a step would not contradict the National Bank's
target of monetary stability.
'Bringing the franc close to the mark would, of course, have
to be done step by step under the watchful eye of monetary
policy,' he told shareholders. 'Realistically there is in fact no
persuasive reason why the German currency is quoted almost 20
pct lower than the Swiss.'
A National Bank spokesman said the relation of the mark and
Swiss franc was an example of stable currency parities over a
long period of time.
The spokesman said exchange rates were made by the market,
not the central bank, and it would be impossible to influence
individual parities separately.
Leutwiler said the Swiss National Bank could not support
the value of the dollar, even in conjunction with other central
banks, without putting monetary stability in jeopardy.
'I would be the last to recommend that. The key to a
stronger dollar lies in the United States itself,' Leutwiler
said.
|
test/18138 | test/18138 |@title spectra:1 physics:1 spy:1 mull:1 sale:1 restructure:1 |@word spectra:8 physics:8 inc:2 say:11 consider:2 possibility:1 recapitalize:1 restructuring:1 seek:1 buyer:1 company:14 follow:1 rejection:1 unsolicitied:1 32:2 dlr:1 share:3 bid:3 ciba:9 geigy:9 corp:1 filing:1 securities:1 exchange:1 commission:1 san:1 jose:1 calif:1 gas:1 laser:1 accessory:1 also:3 board:4 sunday:1 agree:1 plan:4 give:1 52:2 top:2 executive:2 bonus:3 range:1 20:3 50:1 pct:7 base:3 salary:3 stay:2 august:2 29:2 reject:2 takeover:5 proposal:2 u:2 subsidiary:1 swiss:2 ag:1 unfair:2 vote:1 unanimously:1 two:1 representative:1 participate:1 chemical:1 pharmaceutical:1 cite:1 opinion:1 financial:2 advsior:1 morgan:2 stanley:2 co:1 inadequate:1 point:1 view:1 holder:1 authorize:2 special:2 committee:2 vigorously:1 investigate:1 pursue:1 alternative:2 would:4 maximize:1 value:1 shareholder:1 investment:1 among:1 sale:1 third:1 party:1 dlrs:1 recapitalization:1 restructure:1 include:1 self:1 tender:1 offer:2 asset:1 disposition:1 use:1 dividend:1 retention:1 officer:1 pay:1 average:1 percentage:1 28:1 approve:1 order:1 encourage:1 key:1 operate:1 personnel:1 remain:1 period:1 turmoil:1 uncertainty:1 engender:1 entitle:1 cash:1 could:1 receive:1 earlier:1 fire:1 reason:1 gross:1 willful:1 misconduct:1 leave:1 sharply:1 cut:1 file:1 suit:1 yesterday:1 district:1 court:1 wilmington:1 del:1 charge:1 make:2 false:1 misleading:1 violation:1 security:1 law:1 violate:1 intent:2 july:1 9:1 1985:1 standstill:2 agreement:4 indicate:1 time:1 unsolicited:1 acquire:1 unless:2 another:2 threat:1 18:1 8:2 reliance:1 group:1 holdings:1 rel:1 control:2 new:1 york:1 investor:1 saul:1 steinberg:1 12:1 prevent:1 raise:1 stake:1 beyond:1 jan:1 1:1 1992:1 person:1 get:1 10:1 voting:1 power:1 | SPECTRA-PHYSICS <SPY> MULLS SALE, RESTRUCTURE
Spectra-Physics Inc said it is
considering the possibility of recapitalizing, restructuring,
or seeking a buyer for the company following its rejection of
an unsolicitied 32 dlr a share bid from Ciba-Geigy Corp.
In a filing with the Securities and Exchange Commission,
the San Jose, Calif., gas lasers and accessories company also
said its board Sunday agreed to a plan that gives 52 top
executives bonuses ranging from 20 to 50 pct of their base
salary if they stay with the company through August 29.
In rejecting the takeover proposal by the U.S. subsidiary
of Swiss-based Ciba-Geigy AG, the company said it was unfair.
The Spectra-Physics board voted unanimously, with two
Ciba-Geigy representatives not participating, to reject the
Swiss-based chemical and pharmaceutical company's takeover bid,
citing an opinion from its financial advsior, Morgan Stanley
and Co Inc, that it is 'inadequate and unfair from a financial
point of view to the holders of shares,' the company said.
The board also authorized a special committee and Morgan
Stanley to 'vigorously investigate, pursue and authorize any
alternatives which would maximize the value of shareholders'
investment in the company,' the company said.
Among the alternatives the special committee will consider
are a sale of the company to a third party for more than 32
dlrs a share, a recapitalization or restructuring, including
self tender offers and/or asset dispositions through the use of
dividends, Spectra-Physics said.
The 'retention plan' for the 52 top officers will pay an
average bonus percentage of 28 pct of salary, it said.
Spectra-Physics said its board approved the plan 'in order
to encourage key operating personnel to remain with the company
during the period of turmoil and uncertainty engendered by the
(Ciba-Geigy) offer.'
Under the plan, the executives would be entitled to their
cash bonuses if they stay with the company through August 29,
but could receive them earlier if they are fired for reasons
other than gross and willful misconduct, or if they leave the
company because their salaries have been sharply cut.
Spectra-Physics also said it filed suit against Ciba-Geigy
yesterday in U.S. District Court in Wilmington, Del., charging
it with making a takeover bid that was false and misleading in
violation of securities law and with violating the intent of
July 9, 1985 standstill agreement.
Spectra-Physics said Ciba-Geigy indicated at the time of
the standstill agreement that it would not make an unsolicited
takeover proposal for the company and that the intent of the
agreement was that Ciba-Geigy would not acquire more than 20
pct of the company unless there was another takeover threat.
Ciba-Geigy was 18.8 pct of Spectra-Physics and Reliance
Group Holdings <REL>, which is controlled by New York investor
Saul Steinberg, controls 12.8 pct.
Spectra-Physics said the agreement prevents Ciba-Geigy from
raising its stake beyond 20 pct through Jan 1, 1992, unless
another person get more than 10 pct of its voting power.
|
test/18142 | test/18142 |@title volcker:1 departure:1 revive:1 dlr:1 inflation:1 fear:1 |@word paul:1 volcker:3 decision:1 go:1 third:1 term:1 federal:1 reserve:1 chairman:2 nomination:1 alan:1 greenspan:4 replace:1 revive:1 deep:1 concern:1 u:2 ability:1 prevent:1 dollar:2 decline:1 stem:1 rise:1 inflation:4 financial:3 market:5 analyst:1 say:2 although:1 know:1 committed:1 anti:1 fighter:1 mould:1 doubt:1 already:1 surface:1 whether:1 enough:1 political:1 clout:1 monetary:2 experience:1 wage:1 tough:1 campaign:1 next:1 year:1 two:1 critical:1 issue:1 deal:1 stephen:2 axilrod:1 vice:1 nikko:1 securities:2 co:1 international:1 inc:2 former:1 staff:1 director:1 policy:1 fed:1 lot:1 question:1 raise:1 departure:1 answer:1 remain:1 nervous:1 add:1 slifer:1 money:1 economist:1 shearson:1 lehman:1 government:1 morning:1 announcement:1 send:1 tailspin:1 halt:1 concert:1 central:1 bank:1 intervention:1 open:1 currency:1 | VOLCKER DEPARTURE REVIVES DLR, INFLATION FEARS
Paul Volcker's decision not to go for a
third term as Federal Reserve Chairman and the nomination of
Alan Greenspan to replace him have revived deep concerns about
the U.S.' ability to prevent a further dollar decline and stem
rising inflation, financial market analysts said.
Although Greenspan is known as a committed anti-inflation
fighter in the Volcker mould, doubts are already surfacing in
the U.S. financial markets as to whether he has enough
political clout and monetary experience to wage a tough
campaign against inflation over the next year or two.
'The critical issue is how (Greenspan) will deal with
inflation,' said Stephen Axilrod, Vice Chairman of Nikko
Securities Co International Inc and former staff director for
monetary and financial policy at the Fed.
'A lot of questions have been raised by Volcker's
departure. Until Greenspan answers them, the markets will
remain nervous,' added Stephen Slifer, money market economist
at Shearson Lehman Government Securities Inc.
This morning's announcement sent the dollar into a
tailspin, which was halted only by concerted central bank
intervention in the open currency market.
|
test/18145 | test/18145 |@title atlantic:1 richfield:1 arc:1 unit:1 buy:1 technology:1 |@word atlantic:1 richfield:1 co:1 say:3 acquire:1 exclusive:1 worldwide:1 right:1 methyl:2 methacrylate:2 technology:3 texas:1 eastern:1 corp:1 halcon:1 sd:1 group:1 affiliate:1 undisclosed:1 term:1 company:1 allow:1 introduce:1 clean:1 efficient:1 way:1 make:2 liquid:1 monomer:1 use:1 resin:1 acrylic:1 sheet:1 coating:1 mold:1 part:1 product:1 plastic:1 impact:1 modifiers:1 arco:1 review:1 option:1 commercialization:1 | ATLANTIC RICHFIELD <ARC> UNIT BUYS TECHNOLOGY
Atlantic Richfield Co said it has
acquired exclusive worldwide rights to the methyl methacrylate
technology of Texas Eastern Corp's Halcon SD Group affiliate
for undisclosed terms.
The company said the technology will allow it to introduce
a cleaner and more efficient way of making methyl methacrylate,
a liquid monomer used to make resins for acrylic sheet,
coatings, molded parts and products and plastic impact
modifiers.
ARCO said it is reviewing options for commercialization of
the technology.
|
test/18146 | test/18146 |@title small:1 rise:1 see:1 u:2 gasoline:1 inventory:1 |@word analyst:10 expect:6 american:1 petroleum:1 institute:1 weekly:1 report:7 oil:10 inventory:2 show:1 slight:1 build:8 u:3 stock:10 gasoline:4 week:5 end:2 may:6 29:1 trader:3 say:9 consensus:2 increase:3 would:3 rule:1 possibility:1 decline:1 bar:1 surprise:1 tonight:1 neutral:1 bearish:1 price:2 heat:1 also:3 likely:4 run:4 steady:1 slightly:1 high:2 could:2 add:4 pressure:1 crude:2 see:1 assume:1 import:1 continue:1 relatively:1 level:2 rise:3 500:1 000:3 two:2 mln:13 barrel:7 234:1 22:4 peter:1 beutel:1 elders:1 futures:1 inc:1 look:1 five:1 demand:4 7:5 3:3 bpd:5 taper:1 6:1 0:3 make:1 stay:1 draw:2 one:3 energy:1 information:1 administration:1 late:1 four:1 4:2 pct:3 previous:1 year:2 hope:1 reduced:1 founder:1 refinery:2 81:1 2:1 capacity:1 operate:1 raise:1 100:1 refiner:1 hold:1 heating:1 700:1 96:1 last:2 distillate:1 discount:1 market:1 impact:1 time:1 seasonal:1 line:1 future:1 1:1 5:1 three:1 325:1 api:1 appear:1 nation:1 | SMALL RISE SEEN IN U.S. GASOLINE INVENTORIES
U.S. analysts expect the American
Petroleum Institute's weekly report on oil inventories to show
a slight build in U.S. stocks of gasoline for the week ended
May 29, oil traders and analysts said.
While the consensus is for an increase, a few would not
rule out the possibility of an decline. Traders said that
barring any surprises in tonight's report, they expect the
report to be neutral to bearish for oil prices.
Heating oil stocks are also likely to build and runs to be
steady to slightly higher, which could add pressure on oil
prices, the analysts said.
Crude oil was seen likely to build assuming imports
continue at relatively high levels.
Analysts expect gasoline stocks to rise 500,000 to two mln
barrels above the 234 mln reported for May 22.
Peter Beutel, oil analyst with Elders Futures inc, who
looks for a build said, 'We have had five weeks of gasoline
demand at 7.3 mln bpd or more and it is likely to taper off to
between 6.7-7.0 mln bpd, which should make stocks build. Demand
would have to stay above 7.0 mln bpd to have a draw,' he added.
Rising demand is why oil traders and analysts expect a draw
in stocks of about of about one mln barrels.
The U.S. Energy Information Administration in its latest
report for the four weeks ending may 22 said that gasoline
demand was up 4.4 pct to 7.3 mln bpd from the previous year.
But analysts said hopes of reduced stocks is likely to
founder on increased runs in refineries, which could be up 0.3
pct above May 22's 81.2 pct capacity operated.
Such an increase would raise runs about 100,000 bpd and add
to U.S. stocks.
But some analysts said that refiners may have held refinery
runs.
Heating oil stocks were also expected to build between
700,000 barrels and one mln from the 96 mln barrel level
reported last week, but a rise in distillate stocks was
discounted as having a market impact at this time.
'A build is seasonal now and not out of line with last year,'
one futures analyst said.
Analysts said they also expect crude oil stocks to build
between 1.5 mln barrels and three mln from the 325 mln barrels
reported by API for the week of may 22.
The consensus appears for about two mln barrels to be added
to the nation's inventory.
|
test/18148 | test/18148 |@title shultz:1 welcome:1 tokyo:1 economic:1 package:1 u:1 |@word secretary:1 state:1 george:1 shultz:6 say:8 6:1 000:1 billion:2 yen:1 economic:2 package:1 announce:1 tokyo:2 last:3 week:2 go:1 u:6 expect:1 would:4 lift:3 selective:1 sanction:3 impose:2 japanese:4 import:2 april:1 change:2 sale:2 policy:1 concern:1 computer:3 microchip:1 speak:2 televise:1 news:2 conference:2 link:2 several:1 european:1 capital:1 hearten:1 confront:1 problem:2 stimulate:4 domestic:1 global:1 demand:2 even:1 great:1 amount:1 stimulus:1 originally:1 think:1 washington:1 lot:1 nothing:1 talk:1 prime:1 minister:1 yasuhiro:1 nakasone:1 involve:1 major:2 reduction:2 tax:2 rate:1 believe:1 get:1 burden:1 one:2 way:1 economy:2 add:1 ask:3 reporter:1 also:2 whether:2 positive:1 reaction:1 mean:1 may:1 decide:1 next:1 venice:1 summit:1 electronic:1 good:1 reply:1 undertake:1 basis:1 agreement:3 reach:1 united:1 states:1 japan:3 various:1 practice:1 price:1 relate:1 chip:2 market:2 fact:1 make:1 become:1 evident:1 official:1 able:1 monitor:1 situation:1 month:2 impossible:1 determine:1 trend:1 datum:1 100:1 pct:1 duty:1 personal:1 colour:1 television:1 power:1 tool:1 allege:1 violate:1 september:1 bilateral:1 sell:1 fair:1 value:1 west:1 germany:1 nation:1 well:1 look:1 could:2 reasonably:1 ally:1 take:1 action:1 world:1 without:1 bold:1 american:1 initiative:1 reduce:2 size:1 federal:1 budget:2 deficit:2 move:1 already:1 underway:1 tackle:1 end:1 current:1 fiscal:1 year:3 probably:1 around:1 35:1 dlrs:1 work:1 contain:1 | SHULTZ WELCOMES TOKYO ECONOMIC PACKAGE
U.S. Secretary of State George Shultz said
the 6,000 billion yen economic package announced by Tokyo last
week went further than the U.S. Had expected.
But he said the U.S. Would not lift the selective economic
sanctions it imposed on Japanese imports in April until Tokyo
changed its sales policies concerning computer microchips.
Speaking in a televised news conference linking several
European capitals, Shultz said it was heartening that the
Japanese had confronted the problem of stimulating domestic and
global demand.
'There is an even greater amount of stimulus than was
originally thought,' said Shultz, speaking from Washington.
'It is a lot more than nothing. It is more than was talked
about when (Prime Minister Yasuhiro) Nakasone was here.
'It involves a major reduction in tax rates and we believe
that getting the tax burden down is one way of stimulating the
economy,' he added.
But asked by Japanese reporters, also linked into the news
conference, whether the positive reaction meant the U.S. Might
decide at next week's Venice summit to lift its sanctions on
some Japanese electronic goods, Shultz replied:
'These sanctions were undertaken on the basis of an
agreement that had been reached between the United States and
Japan on various sale practices and prices relating to the chip
market.
'They will be lifted as the facts of change by Japan to the
agreement that it made become evident.'
He said U.S. Officials had only been able to monitor the
situation for a month and that it was impossible to determine a
trend on only one month's data.
The U.S. Imposed 100 pct import duties on personal
computers, colour televisions and power tools, alleging that
Japan had violated last September's bilateral agreement by
selling computer chips at below fair market value.
Shultz said West Germany and other nations would also do
well to look at what they could do to stimulate demand.
Asked whether the U.S. Could reasonably ask its allies to
take action to stimulate the world economy without a bold
American initiative to reduce the size of the federal budget
deficit, Shultz said moves were already underway to tackle the
problem.
He said by the end of the current fiscal year the deficit
would probably be reduced by around 35 billion dlrs against
last year, and that the budget being worked on this year would
contain a major reduction.
|
test/18149 | test/18149 |@title champion:1 home:1 chb:1 sell:1 two:1 property:1 |@word champion:1 home:2 builders:1 inc:1 say:4 sell:1 commerce:2 meadow:2 600:1 site:3 manufacture:1 housing:1 rental:1 community:3 township:1 michigan:1 pre:2 tax:2 gain:2 900:1 000:1 dlrs:1 heron:1 cay:1 610:1 adult:1 vero:1 beach:1 florida:1 nominal:1 company:2 sale:1 proceed:1 partly:1 use:1 reduce:1 debt:1 shift:1 focus:1 away:1 development:2 require:1 significant:1 equity:1 lengthy:1 project:1 life:1 cycle:1 also:1 along:1 local:1 landowner:1 investor:1 acquire:1 33:1 acre:2 tract:1 northtowne:1 toledo:1 ohio:1 area:1 160:1 three:1 commercial:1 land:1 term:1 transaction:1 party:1 involve:1 disclose:1 | CHAMPION HOME <CHB> SELLS TWO PROPERTIES
Champion Home Builders Inc said it
sold the Commerce Meadows 600-site manufactured housing rental
community in Commerce Township, Michigan, for a pre-tax gain of
about 900,000 dlrs and the Heron Cay 610-site adult community
in Vero Beach, Florida, for a nominal pre-tax gain.
The company said the sales proceeds will be partly used to
reduce debt. It said it is shifting its focus away from the
development of communities requiring significant equity and
having lengthy projected life cycles.
The company also said along with local landowners and
investors, it will acquire 33-acre tract Northtowne Meadows in
the Toledo, Ohio, area for development into 160 home sites and
three acres of commercial land.
Terms of the transactions and other parties involved were
not disclosed.
|
test/18150 | test/18150 |@title acp:1 state:1 say:1 ec:1 oil:1 tax:1 plan:1 break:1 accord:1 |@word develop:1 country:7 say:8 european:2 community:1 ec:10 would:12 breach:2 two:3 international:1 agreement:2 go:1 ahead:1 plan:2 oil:3 fat:4 tax:6 ambassador:2 african:1 caribbean:1 pacific:1 acp:8 states:2 tell:1 press:1 conference:2 hit:4 export:4 26:1 fail:1 follow:1 consultation:1 procedure:1 lay:1 lome:1 convention:1 regulate:1 relation:1 bloc:2 move:1 could:2 affect:1 trade:3 side:1 also:2 undertaking:1 bring:1 new:2 protectionist:1 measure:3 current:1 punta:1 del:1 este:1 round:1 world:1 negotiation:1 hold:1 gatt:1 general:1 tariffs:1 auspex:1 commission:1 propose:2 330:1 currency:1 unit:1 ecus:3 tonne:1 import:2 produce:1 vegetable:1 marine:1 human:1 consumption:1 raise:1 billion:1 year:1 farm:2 minister:1 approve:2 split:1 issue:1 expect:1 decide:1 marathon:1 meeting:1 price:1 begin:1 luxembourg:1 june:1 15:1 jamaican:1 leslie:1 wilson:4 convince:1 lead:1 industry:1 substituting:1 product:1 make:2 within:1 estimate:1 result:1 fall:1 160:1 185:1 mln:1 member:1 believe:1 willingly:1 take:3 undermine:1 impact:1 u:1 malaysia:1 may:1 retaliatory:1 action:1 step:1 last:1 resort:1 add:1 touch:1 oppose:1 chair:1 news:1 clear:1 jamaica:1 among:1 bad:1 ivory:1 coast:1 senegal:1 nigeria:1 papua:1 guinea:1 | ACP STATES SAY EC OILS TAX PLAN BREAKS ACCORDS
Developing countries said the European
Community (EC) would breach two international agreements if it
went ahead with its plans for an oils and fats tax.
Ambassadors to the EC from African, Caribbean and Pacific
(ACP) states told a press conference the tax would hit the
exports of 26 ACP countries.
They said the EC failed to follow consultation procedures
laid down in the Lome Convention which regulates relations
between ACP states and the bloc for moves which could affect
trade between the two sides.
They also said the EC would be in breach of an undertaking
not to bring in new protectionist measures during the current
Punta del Este round of world trade negotiations being held
under GATT (General Agreement on Tariffs and Trade) auspices.
The EC Commission has proposed a tax of up to 330 European
currency units (Ecus) a tonne on both imported and EC-produced
vegetable and marine fats for human consumption, which could
raise up to two billion Ecus a year.
EC farm ministers, who would have to approve such a tax,
are split on the issue and are expected to decide it at a
marathon meeting on EC farm prices beginning in Luxembourg on
June 15.
Jamaican ambassador Leslie Wilson said ACP countries are
convinced this would lead to EC industry substituting products
made within the bloc for oil and fat imports. The ACP estimates
this would result in a fall of 160 to 185 mln Ecus in its
member country exports.
'We can't believe the EC would willingly take measures to
undermine our countries, but such would be the impact of these
measures,' Wilson said.
The U.S. and Malaysia say their exports would also be hit
by the proposed tax and they may take retaliatory action if it
is approved.
Wilson said the ACP would take such steps only 'as a very
last resort,' but added that the ACP is in touch with other
countries which oppose the plan.
Wilson, who was chairing the news conference, made it clear
Jamaica itself would not be hit by the tax as it does not
export oils and fats.
Among the worst hit countries would be Ivory Coast,
Senegal, Nigeria and Papua New Guinea, the ACP says.
|
test/18152 | test/18152 |@title burlington:1 coat:1 factory:1 bcf:1 2nd:1 qtr:1 net:1 |@word quarter:1 end:1 may:1 2:3 shr:2 20:1 ct:2 vs:6 17:1 net:2 319:1 000:2 1:4 950:1 sale:2 92:1 4:1 mln:6 72:1 six:1 mth:1 60:1 dlrs:2 27:1 18:1 7:1 14:1 8:1 285:1 9:1 227:1 note:1 full:1 name:1 burlington:1 coat:1 factory:1 warehouse:1 corp:1 | BURLINGTON COAT FACTORY <BCF> 2ND QTR NET
quarter ended May 2
Shr 20 cts vs 17 cts
Net 2,319,000 vs 1,950,000
Sales 92.4 mln vs 72.2 mln
Six mths
Shr 1.60 dlrs vs 1.27 dlrs
Net 18.7 mln vs 14.8 mln
Sales 285.9 mln vs 227.1 mln
NOTE: Full name is Burlington Coat Factory Warehouse Corp.
|
test/18155 | test/18155 |@title cml:1 group:1 inc:1 cmli:1 3rd:1 qtr:1 net:1 |@word qtr:1 end:1 may:1 2:1 shr:2 29:1 ct:3 vs:8 22:1 net:2 1:4 975:1 000:4 403:1 rev:1 68:1 mln:4 54:1 0:1 avg:2 shrs:2 6:5 722:1 527:1 597:1 492:1 nine:1 mth:1 17:1 dlrs:1 92:1 7:3 847:1 017:1 revs:1 209:1 175:1 687:1 138:1 549:1 197:1 | CML GROUP INC <CMLI.O> 3RD QTR NET
qtr ended May 2
Shr 29 cts vs 22 cts
Net 1,975,000 vs 1,403,000
Revs 68.1 mln vs 54.0 mln
Avg shrs 6,722,527 vs 6,597,492
Nine mths
Shr 1.17 dlrs vs 92 cts
Net 7,847,000 vs 6,017,000
Revs 209.7 mln vs 175.7 mln
Avg shrs 6,687,138 vs 6,549,197
|
test/18157 | test/18157 |@title ball:1 corp:1 bll:1 complete:1 acquisition:1 verac:1 |@word ball:2 corp:1 say:2 complete:1 acquisition:1 privately:1 hold:1 verac:1 inc:1 term:1 disclose:1 company:2 san:1 diego:1 base:1 defense:1 system:1 software:1 development:1 sale:1 23:1 mln:1 dlrs:1 1986:1 operate:1 part:1 technical:1 products:1 group:1 | BALL CORP <BLL> COMPLETES ACQUISITION OF VERAC
Ball Corp said it completed the
acquisition of privately held Verac Inc.
Terms were not disclosed.
The company said the San Diego-based defense systems and
software development company had sales of about 23 mln dlrs in
1986 and will operate as part of Ball's technical products
group.
|
test/18158 | test/18158 |@title nodaway:1 valley:1 co:1 nvco:1 1st:1 qtr:1 net:1 |@word qtr:1 end:1 april:1 30:1 shr:1 seven:1 ct:2 vs:3 10:1 net:1 158:1 294:1 234:1 829:1 rev:1 8:2 727:1 242:1 152:1 478:1 | NODAWAY VALLEY CO <NVCO.O> 1ST QTR NET
qtr ended April 30
Shr seven cts vs 10 cts
Net 158,294 vs 234,829
Revs 8,727,242 vs 8,152,478
|
test/18160 | test/18160 |@title need:1 big:1 ally:1 force:1 gulf:1 play:1 |@word secretary:1 state:1 george:1 shultz:2 say:3 today:1 boost:1 allied:1 force:2 mideast:1 gulf:2 vital:1 protect:1 shipping:1 attack:2 possible:1 ally:2 contribution:1 examine:1 ask:1 see:1 need:2 great:1 military:1 presence:1 tell:1 reporter:1 necessarily:1 particularly:1 adequate:1 deter:1 note:1 british:1 french:1 well:1 united:1 states:1 maintain:1 naval:1 contingent:1 look:1 thing:1 may:1 | NEED FOR BIGGER ALLIED FORCE IN GULF PLAYED DOWN
Secretary of State George Shultz said
today that a boost in allied forces in the Mideast Gulf was not
vital to protect shipping against attack but that possible
allied contributions should be examined.
Asked if he saw the need for a greater military presence by
the allies in the gulf, Shultz told reporters, 'Not necessarily,
particularly, so.'
But he said an adequate force was needed to deter attack
and noted that the British and the French, as well as the
United States, maintained naval contingents there.
'We have to look at things that others might do,' he said.
|
test/18166 | test/18166 |@title gamma:1 biologicals:1 inc:1 gama:1 4th:1 qtr:1 march:1 31:1 |@word shr:2 profit:2 four:1 ct:4 vs:6 loss:6 47:1 net:2 209:1 000:6 2:2 164:1 sale:2 4:1 849:1 3:1 682:1 year:1 10:1 52:1 451:1 378:1 18:1 0:1 mln:2 15:1 8:1 | GAMMA BIOLOGICALS INC <GAMA.O> 4TH QTR MARCH 31
Shr profit four cts vs loss 47 cts
Net profit 209,000 vs loss 2,164,000
Sales 4,849,000 vs 3,682,000
Year
Shr loss 10 cts vs loss 52 cts
Net loss 451,000 vs loss 2,378,000
Sales 18.0 mln vs 15.8 mln
|
test/18176 | test/18176 |@title skyline:1 skx:1 v:1 expect:1 begin:1 july:1 |@word skyline:3 explorations:1 ltd:1 say:5 expect:2 construction:3 begin:3 next:1 month:1 gold:1 mine:1 johnny:2 mountain:2 camp:1 locate:1 600:1 mile:1 north:1 vancouver:1 company:2 contract:1 let:1 200:1 400:1 ton:4 per:4 day:1 mill:1 receive:2 cooperation:1 provincial:1 federal:1 agency:1 stage:1 one:1 report:1 approval:2 principal:2 require:1 actual:1 optimistic:1 late:1 june:1 time:1 confirm:1 threshold:1 tonnage:1 grade:2 target:1 july:1 1987:1 exploration:1 drift:1 16:1 vien:1 east:1 advance:1 320:1 foot:2 vein:1 continuous:1 average:2 four:1 thick:1 plus:1 altered:1 mineralize:1 hang:1 wall:1 periodic:1 face:1 sample:1 indicate:1 1:1 05:1 ounce:3 ore:1 range:1 low:1 0:1 78:1 high:1 55:1 8:1 | SKYLINE <SKX.V> EXPECTS TO BEGIN MINE IN JULY
Skyline Explorations Ltd said expects
construction can begin next month on a gold mine at Johnny
Mountain Camp, located 600 miles north of Vancouver.
The company said a contract has been let for a 200 to 400
tons per day mill and the company is receiving cooperation from
provincial and federal agencies on its stage one report,
'approval in principal,' which is required before actual
construction can begin.
Skyline said it is optimistic the approval in principal
will be received in late June, by which time it expects to have
confirmed threshold tonnage and grade targets so construction
can begin in July.
Skyline said the 1987 exploration drift on 16 vien east at
Johnny Mountain has advanced 320 feet. The vein is continuous,
averaging four feet thick plus an altered mineralized hanging
wall.
It said periodic face samples indicate an average grade of
1.05 ounces per ton of ore ranging from a low of 0.78 ounce per
ton to a high of 55.8 ounces per ton.
|
test/18177 | test/18177 |@title soycomplex:1 could:1 rally:1 tight:1 u:1 feed:1 supply:1 |@word nearby:1 month:4 soybean:11 soymeal:5 future:4 could:1 post:1 short:1 term:1 rally:2 tighten:1 supply:2 livestock:1 feed:1 even:2 favorable:1 growing:1 condition:1 keep:2 new:2 crop:5 outlook:1 bearish:1 trader:2 say:5 lot:1 dealer:5 get:2 worried:1 processor:4 summer:1 one:1 illinois:2 soyproduct:1 compete:1 vigorously:1 river:1 offer:1 country:2 elevator:2 decatur:1 raise:1 spot:2 basis:2 bid:1 another:1 two:1 cent:1 today:1 10:1 july:5 farmer:2 marketing:1 old:3 continue:2 light:2 flat:1 price:1 apparently:1 well:1 level:1 willing:1 sell:2 terminal:1 operator:1 come:1 belief:1 back:1 last:1 high:1 movement:1 may:2 remain:2 many:1 area:1 particularly:1 eastern:1 half:1 midwest:1 take:1 seasonal:1 downtime:1 maintenance:1 difficult:1 buy:1 reduce:1 weekly:1 crush:1 rate:1 still:1 strong:1 tight:1 cash:1 help:1 gain:1 deferred:1 already:1 move:2 premium:2 august:1 october:1 november:1 also:1 later:1 add:1 | SOYCOMPLEX COULD RALLY ON TIGHT U.S. FEED SUPPLY
Nearby months in soybean and soymeal
futures could post a short-term rally on tightening supply of
livestock feed, even if favorable growing conditions keep the
new crop outlook bearish, traders said.
'A lot of soymeal dealers are just getting very worried
about where processors will get their soybeans this Summer,'
one Illinois soyproduct dealer said.
Processors are competing vigorously with river dealers for
the few soybeans being offered by country elevators, with a
Decatur, Illinois processor raising its spot soybean basis bid
another two cents today to 10 over July futures.
Farmer marketings of old crop soybeans continue very light,
with flat prices apparently well below levels they are willing
to sell, dealers said.
Some terminal elevator operators are coming to the belief
that even if futures rally back to last month's highs, country
movement may remain light because farmers in many areas are
sold out of old crop soybeans, particularly in the eastern half
of the Midwest.
Soybean processors will continue to take seasonal downtime
for maintenance if soybeans remain difficult to buy, reducing
the weekly soybean crush rate still further and keeping the
spot soymeal basis strong, dealers said.
Futures traders said tight cash supplies should help July
soybeans and soymeal gain on deferreds. July soymeal has
already moved to a premium over the August through October
months and old crop July/new crop November soybeans may also
move to a July premium later this month, they added.
|
test/18180 | test/18180 |@title london:1 house:1 inc:1 lond:1 year:1 april:1 30:1 net:1 |@word shr:1 33:1 ct:2 vs:4 26:1 net:1 489:1 351:1 430:1 143:1 revs:1 6:3 961:1 091:1 009:1 026:1 avg:1 shrs:1 1:2 5:1 mln:2 | LONDON HOUSE INC <LOND.O> YEAR APRIL 30 NET
Shr 33 cts vs 26 cts
Net 489,351 vs 430,143
Revs 6,961,091 vs 6,009,026
Avg shrs 1.5 mln vs 1.6 mln
|
test/18182 | test/18182 |@title group:1 5:1 2:1 pct:1 distributed:1 logic:1 dlog:1 |@word investor:2 group:2 lead:1 technology:1 growth:1 fund:1 ltd:1 aspen:1 colo:1 investment:2 firm:1 say:3 acquire:1 129:1 000:1 share:1 distribute:1 logic:1 corp:1 5:1 2:1 pct:1 total:1 may:2 try:1 influence:2 company:3 filing:1 securities:1 exchange:1 commission:1 also:2 include:1 individual:1 non:1 profit:1 foundation:1 buy:1 stake:2 884:1 414:1 dlrs:1 anaheim:1 calif:1 investigate:1 possibility:1 seek:1 composition:1 management:1 increase:1 | GROUP HAS 5.2 PCT OF DISTRIBUTED LOGIC <DLOG.O>
An investor group led by Technology
Growth Fund Ltd, an Aspen, Colo., investment firm, said it has
acquired 129,000 shares of Distributed Logic Corp, or 5.2 pct
of the total, and may try to influence the company.
In a filing with the Securities and Exchange Commission,
the group, which also includes individual investors and a
non-profit foundation, said it bought the stake for 884,414
dlrs as an investment in the Anaheim, Calif., company.
But it also said it is 'investigating the possibility of
seeking to influence the composition of the management' of the
company and may increase its stake.
|
test/18185 | test/18185 |@title kaufman:1 say:1 greenspan:1 nomination:1 bad:1 bond:1 |@word henry:1 kaufman:4 manage:1 director:1 salomon:1 brothers:1 inc:1 say:4 nomination:1 economist:1 alan:1 greenspan:3 replace:1 federal:2 reserve:2 board:1 chairman:2 paul:2 volcker:3 bearish:1 near:1 term:1 fix:1 income:1 currency:1 market:3 basic:1 direction:2 interest:2 rate:2 change:1 fundamental:1 continue:1 upward:1 interrupt:1 intermittent:1 rally:1 statement:1 implication:1 equity:1 neutral:1 bullish:1 unlike:1 enter:1 office:1 strong:1 credibility:1 domestically:1 internationally:1 mr:2 demonstrate:1 competence:1 policy:1 independence:1 gain:1 full:1 confidence:1 financial:1 knowledgeable:1 behavior:1 u:1 economy:1 professional:1 skill:1 international:1 area:1 much:1 limited:1 note:1 consequently:1 although:1 well:1 known:1 abroad:1 view:1 issue:1 less:2 developed:1 country:1 debt:1 may:1 initially:1 carry:1 weight:1 | KAUFMAN SAYS GREENSPAN NOMINATION BAD FOR BONDS
Henry Kaufman, managing director of
Salomon Brothers Inc, said the nomination of economist Alan
Greenspan to replace Federal Reserve Board Chairman Paul
Volcker is bearish in the near term for the fixed income and
currency markets.
'The basic direction of interest rates is not changed. The
fundamental direction of interest rates continues to be upward,
interrupted by intermittent rallies,' Kaufman said in a
statement. He said the implication for equity markets in
neutral to bullish.
Kaufman said, 'Unlike Paul Volcker, who entered the office
of the Federal Reserve chairman with strong credibility both
domestically and internationally, Mr Greenspan will have to
demonstrate both his competence and policy independence before
he can gain full confidence of the financial markets.'
Greenspan is most knowledgeable on the behavior of the U.S.
economy, while his professional skills in the international
area are much more limited, Kaufman noted.
'Consequently, although he is well known abroad, his views
on issues such as the Less Developed Country Debt may initially
carry less weight than have those of Mr Volcker.'
|
test/18186 | test/18186 |@title major:1 u:1 pipeline:1 may:1 close:1 several:1 day:1 |@word operator:2 major:1 u:3 crude:4 oil:6 pipeline:10 shutdown:4 flood:2 damage:2 say:9 may:1 several:2 day:5 repair:3 make:3 system:1 function:1 dan:1 stevens:5 manager:1 public:1 government:1 affair:1 texaco:5 inc:1 tx:1 subsidiary:1 co:1 company:1 hope:1 begin:1 five:1 expect:1 take:1 complete:1 point:1 line:1 know:1 need:1 get:1 job:1 add:1 timing:1 depend:1 difficult:1 assess:1 red:2 river:2 ship:1 roughly:1 225:1 000:1 barrel:3 per:1 55:1 pct:1 capacity:3 30:1 precede:1 saturday:2 shut:1 cushing:1 okla:1 witchita:1 fall:1 kan:1 due:1 undetermined:1 leak:1 crossing:1 near:1 oklahoma:1 texas:3 border:1 severe:1 rain:1 spokesman:1 reasonable:2 suggest:2 could:2 operate:2 full:2 reopen:2 order:2 shortfull:2 caution:2 talk:2 customer:2 determine:2 requirement:2 analyst:2 trader:2 sure:2 continue:2 raise:2 price:2 monday:2 confirm:2 close:2 west:2 intermediate:2 spot:2 market:2 new:2 york:2 mercantile:2 exchange:2 energy:2 future:2 complex:2 rise:2 20:2 ct:2 | MAJOR U.S. PIPELINE MAY BE CLOSED SEVERAL DAYS
The operator of a major U.S. crude oil
pipeline, shutdown because of flood damage, said it may be
several days before repairs are made and the system is
functioning again.
Dan Stevens, manager of public and government affairs at
Texaco Inc <TX>, operator of the pipeline through its
subsidiary Texaco Pipeline Co, said the company hopes repairs
will begin in about five days and expects it to take several
more days to complete.
'At this point we are lining up what we know we need, to get
the job done,' Stevens said, adding that the timing for repairs
will depend on the damage to the pipeline which is difficult to
assess because of flooding on the Red River.
The pipeline was shipping roughly 225,000 barrels of crude
oil per day, or about 55 pct of its capacity during the 30 days
preceding its shutdown on Saturday, Stevens said.
The pipeline was shut down from Cushing, Okla, to Witchita
Falls, Kan, on Saturday due to an undetermined leak at the Red
River crossing, near the Oklahoma/Texas border, because of
severe rains, a spokesman for Texaco said.
Stevens said it was reasonable to suggest the pipeline
could operate at full capacity when it reopens in order to make
up for the shortfull but cautioned they will talk with
customers to determine their requirements.
Oil analysts and traders said they were not sure if the
shutdown will continue to raise U.S. oil prices.
Monday, after Texaco confirmed that the pipeline had been
closed, West Texas Intermediate crude in the spot market and on
New York Mercantile Exchange's energy futures complex rose 20
cts a barrel.
Stevens said it was reasonable to suggest the pipeline
could operate at full capacity when it reopens in order to make
up for the shortfull but cautioned they will talk with
customers to determine their requirements.
Oil analysts and traders said they were not sure if the
shutdown will continue to raise U.S. oil prices.
Monday, after Texaco confirmed that the pipeline had been
closed, West Texas Intermediate crude in the spot market and on
New York Mercantile Exchange's energy futures complex rose 20
cts a barrel.
|
test/18187 | test/18187 |@title neti:1 technologies:1 netfc:1 sell:1 subsidiary:1 |@word neti:1 technologies:1 inc:2 say:2 sell:2 four:1 mln:2 dlrs:2 u:1 cash:2 note:1 assumption:1 liability:1 huron:3 leasing:1 subsidiary:1 group:1 investor:1 head:1 former:1 executive:1 company:1 transaction:2 yield:1 two:1 lease:1 service:1 computer:1 hardware:1 subject:1 approval:1 montreal:1 vancouver:1 stock:1 exchange:1 arrangement:1 financing:1 june:1 15:1 | NETI TECHNOLOGIES <NETFC.O> SELLS SUBSIDIARY
Neti Technologies Inc said it has sold
for over four mln dlrs U.S. in cash, notes and the assumption
of liabilities its Huron Leasing Inc subsidiary to a group of
investors headed by a former Huron executive.
The company said the transaction will yield about two mln
dlrs in cash, Huron sells, leases and services computer
hardware.
The transaction is subject to approval by the Montreal and
Vancouver Stock Exchange and the arrangement of financing by
June 15.
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test/18188 | test/18188 |@title pacificorp:1 ppw:1 buy:2 computer:1 firm:1 |@word pacificorp:2 say:3 acquire:1 thomas:3 nationwide:3 computer:1 corp:3 25:1 mln:2 dlrs:2 cash:1 15:1 defer:1 consideration:1 depend:1 future:1 performance:1 company:1 lease:2 market:1 new:1 use:1 international:1 business:1 machines:1 equipment:1 combine:1 system:1 unit:1 maclean:1 va:1 | PACIFICORP <PPW> BUYS BUYS COMPUTER FIRM
PacifiCorp said it acquired Thomas
Nationwide Computer Corp for 25 mln dlrs in cash and 15 mln
dlrs in deferred consideration depending on the future
performance of the company.
Thomas Nationwide leases and re-markets new and used
International Business Machines Corp equipment, PacifiCorp
said.
It said Thomas Nationwide will be combined with its Systems
Leasing Corp unit in MacLean, Va.
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test/18191 | test/18191 |@title fmc:3 corp:1 peroxide:1 venture:1 |@word corp:1 say:3 enter:1 equally:1 joint:1 venture:2 indo:1 thai:2 synthetics:1 call:1 peroxide:3 co:1 ltd:1 build:1 hydrogen:1 plant:2 initial:1 capacity:1 5:1 000:1 metric:1 tonne:1 100:1 pct:1 north:1 bangkok:1 company:1 expect:1 starft:1 operate:1 fourth:1 quarter:1 1988:1 receive:1 grant:1 incentive:1 government:1 thailand:1 | FMC CORP <FMC> IN PEROXIDE VENTURE
FMC Corp said it has entered into an
equally owned joint venture with Indo-Thai Synthetics called
Thai Peroxide Co Ltd to build a hydrogen peroxide plant with an
initial capacity of 5,000 metric tonnes of 100 pct peroxide
north of Bangkok.
The company said the plant is expected to starft operating
by the fourth quarter of 1988. It said the venture received
grants and incentives from the government of Thailand.
|
test/18205 | test/18205 |@title investment:1 firm:1 ups:1 france:1 fund:1 frn:1 stake:1 vbi:1 |@word corp:1 british:1 west:1 indies:1 investment:1 firm:1 tell:1 securities:1 exchange:1 commission:1 raise:1 stake:1 france:2 fund:2 inc:1 1:1 075:1 700:1 share:4 14:2 3:1 pct:2 total:1 896:1 500:1 11:1 9:1 vbi:1 say:1 buy:1 179:1 200:1 common:1 april:1 24:1 june:1 2:1 price:1 range:1 13:1 000:1 125:1 dlrs:1 | INVESTMENT FIRM UPS FRANCE FUND <FRN> STAKE
VBI Corp, a British West Indies
investment firm, told the Securities and Exchange Commission it
raised its stake in France Fund Inc to 1,075,700 shares, or
14.3 pct of the total, from 896,500 shares, or 11.9 pct.
VBI said it bought 179,200 France Fund common shares
between April 24 and June 2 at prices ranging from 13.000 to
14.125 dlrs a share.
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test/18210 | test/18210 |@title lynch:1 lgl:1 plan:1 offer:1 becor:1 bcw:1 stock:1 |@word lynch:5 corp:1 say:5 offer:6 10:2 50:2 dlrs:5 share:5 cash:2 4:3 subordinated:1 debenture:2 1:3 new:1 company:1 becor:7 western:1 inc:2 outstanding:2 propose:1 substantially:1 improve:1 45:1 00:1 senior:1 sink:1 fund:1 make:2 bcw:1 acquisition:1 form:1 management:2 chairman:1 mario:1 gabelli:2 head:1 group:2 12:1 35:1 pct:1 16:1 5:1 mln:3 bid:1 one:1 dlr:2 better:1 present:1 previously:1 filing:1 securities:1 exchange:1 commission:1 feel:1 managment:1 buyout:3 unfar:1 officer:1 invite:1 shareholder:2 follow:1 sale:1 aerospace:1 subsidiary:1 february:1 lead:1 president:1 william:1 winter:1 announce:1 plan:2 238:2 leverage:1 take:1 vote:1 schedule:1 june:1 four:1 | LYNCH <LGL> PLANS OFFER FOR BECOR <BCW> STOCK
Lynch Corp said it will offer 10.50 dlrs
a share in cash, 4.50 dlrs in subordinated debentures and a 1/4
share in a new company for each Becor Western Inc share
outstanding.
Lynch said its proposed offer 'substantially improves' over
the offer of 10.45 dlrs a share in cash and 4.00 dlrs of senior
sinking fund debentures made by BCW Acquisition Inc, formed by
Becor's management.
Lynch Chairman Mario Gabelli, who heads a group which owns
12.35 pct of Becor's 16.5 mln outstanding shares, said the
Lynch bid 'is about one dlr better than the present offer.'
Gabelli previously said in a filing with the Securities and
Exchange Commission he felt the Becor managment buyout was
unfar.
The Lynch officer said he was invited by other Becor
shareholders to make an offer.
Following sale of Becor's aerospace subsidiary in February,
the management group led by President William Winter announced
plans for a 238.1 mln dlr leveraged buyout. was planning to
take Becor for about 238.1 mln dlrs. A shareholder vote on the
buyout offer is scheduled for June four.
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test/18213 | test/18213 |@title overseas:1 osg:1 see:1 opec:1 quota:1 key:1 rate:1 |@word overseas:3 shipholding:1 group:1 inc:1 president:1 morton:1 hyman:3 say:6 oil:4 production:3 opec:3 rise:4 second:1 half:1 1987:2 freight:2 rate:3 tanker:6 accordingly:1 deliver:1 speech:1 annual:1 shareholder:1 meeting:1 international:2 market:2 generally:1 weak:1 throughout:1 first:2 quarter:3 since:1 end:1 march:1 pick:1 result:2 modest:1 improvement:2 73:1 pct:2 fleet:2 handle:1 liquid:1 cargo:1 requirement:1 decrease:1 september:1 1986:3 quota:1 drop:1 level:1 stock:1 company:4 report:2 net:2 income:2 10:1 3:3 mln:3 dlrs:4 40:1 ct:2 per:3 share:3 compare:1 9:1 36:1 comparable:1 year:2 ago:1 37:1 1:1 45:1 four:1 decline:1 earning:1 reflect:1 sharp:1 albeit:1 temporary:1 last:1 summer:1 alaskan:1 trade:1 continue:1 principal:1 source:1 employment:1 u:1 flag:1 represent:1 approximately:1 15:1 tonnage:1 operate:1 67:1 vessel:1 | OVERSEAS <OSG> SEES OPEC QUOTAS KEY TO RATES
Overseas Shipholding Group Inc president
Morton Hyman said if oil production by OPEC rises during the
second half of 1987, freight rates for tankers should rise
accordingly.
Hyman, delivering a speech at the annual shareholders
meeting, said international tanker markets were generally weak
throughout the first quarter, but since the end of March OPEC
oil production has picked up. The result has been a modest
improvement in tanker rates.
Overseas said 73 pct of its fleet handles liquid cargo.
He said tanker requirements decreased in September 1986 as
OPEC production quotas dropped and levels of oil stocks rose.
For the first quarter 1987, the company reported net income
of 10.3 mln dlrs, or 40 cts per share, compared to 9.3 mln
dlrs, or 36 cts per share, for the comparable quarter a year
ago.
The company reported net income for 1986 of 37.3 mln dlrs,
or 1.45 dlrs per share.
'The improvement in the company's 1986 results, after four
years of declining earnings, reflects a sharp, albeit
temporary, rise in freight rates in the international tanker
markets last summer,' Hyman said.
He said the Alaskan oil trade continues to be the principal
source of employment for its U.S. flag tanker fleet, which
represents approximately 15 pct of the company's tonnage.
Overseas owns and operates 67 vessels.
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test/18217 | test/18217 |@title b:1 f:1 goodrich:1 gr:1 canada:1 studies:1 plant:1 |@word quebec:4 government:4 say:6 join:1 b:1 f:1 goodrich:1 canada:3 inc:2 study:1 feasability:1 build:1 vinyl:1 chloride:1 monomer:1 plant:4 montreal:3 would:4 supply:1 manufacturer:1 pvc:1 construction:1 material:2 eastern:1 northeastern:1 u:1 official:1 cost:2 125:1 mln:1 canadian:1 dlrs:1 production:1 begin:1 1991:1 economic:1 condition:1 right:1 want:2 project:2 proceed:1 provide:3 future:1 demand:1 petromont:3 petrochemical:1 product:1 jointly:1 union:1 carbide:1 ltd:2 ucc:1 sgf:1 industrial:1 development:1 group:1 ethylene:1 raw:1 also:1 interprovincial:1 pipe:1 line:1 ipipf:1 adapt:1 pipeline:2 sarnia:1 ont:1 carry:1 natural:1 gas:1 liquid:1 decision:1 make:1 federal:1 national:1 energy:1 board:1 could:1 feedstock:1 one:1 third:1 move:1 rail:1 | B.F. GOODRICH <GR> CANADA STUDIES PLANT
The Quebec government said it joined
with B.F. Goodrich Canada Inc to study the feasability of
building a vinyl chloride monomer plant in Montreal. The plant
would supply manufacturers of PVC construction and other
materials in Eastern Canada and the Northeastern U.S.,
government officials said.
Theys said the plant would cost about 125 mln Canadian
dlrs, with production beginning in 1991 if economic conditions
are right. more
The Quebec government has said it wants the project to
proceed because it would provide future demand for Petromont
Inc petrochemical products. Petromont is jointly owned by Union
Carbide Canada Ltd <UCC.TO> and the Quebec government's SGF
industrial development group. Its Montreal plant would provide
ethylene as a raw material for the project.
Quebec said it also wants Interprovincial Pipe Line Ltd
<IPIPF.O> to adapt its pipeline from Sarnia, Ont., to Montreal
to carry natural gas liquids, a decision that will be made by
the federal National Energy Board. It said the pipeline could
provide Petromont with feedstock at one-third the cost of
moving it by rail.
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test/18221 | test/18221 |@title icco:1 |@word buffer:2 stock:2 manager:2 buy:2 3:4 000:2 tonne:2 cocoa:2 wednesday:2 june:2 official:2 icco:1 | ICCO buffer stock manager to buy 3,000 tonnes cocoa Wednesday, June 3 - official
ICCO buffer stock manager to buy 3,000 tonnes cocoa Wednesday, June 3 - official
|
test/18222 | test/18222 |@title icco:1 buffer:1 buy:1 3:2 000:1 tonne:1 cocoa:1 june:1 |@word buffer:2 stock:2 manager:2 international:1 cocoa:5 organization:1 icco:4 tender:1 3:2 000:1 tonne:1 bean:2 wednesday:1 june:2 say:3 statement:1 condition:2 remain:1 unchanged:1 previous:1 announcement:1 offer:7 registered:1 company:1 pound:4 sterling:4 standard:2 differential:2 set:1 rule:1 afloat:2 december:2 shipment:2 spot:1 arrival:2 delivery:2 basis:1 position:2 may:1 july:1 late:1 appropriate:1 carrying:1 cost:3 take:3 account:2 deadline:1 receipt:1 shall:1 1330:1 hrs:1 london:1 time:1 1230:1 gmt:1 case:2 emanate:2 secondhand:1 market:1 1400:1 hour:1 origin:1 competitiveness:1 assess:1 store:2 currently:2 23:1 00:3 cif:2 land:1 38:1 ship:1 weight:1 carry:1 12:1 per:1 month:1 four:1 consider:1 party:1 add:1 | ICCO BUFFER TO BUY 3,000 TONNES COCOA JUNE 3
The buffer stock manager of the
International Cocoa Organization (ICCO) will tender for about
3,000 tonnes of cocoa beans Wednesday, June 3, the ICCO said in
a statement.
It said all other conditions remain unchanged from the
previous announcement.
These conditions are that offers from registered companies
should be in pounds sterling for cocoa beans for which standard
differentials have been set in the ICCO's buffer stock rules,
and can be for cocoa afloat through to December shipment and
spot to December arrival/delivery.
The basis position will be afloat, May/July shipment or
June arrival/delivery. For later positions the appropriate
carrying costs will be taken into account.
The deadline for the receipt of offers by the manager shall
be 1330 hrs london time (1230 gmt) in the case of offers
emanating from the secondhand market and 1400 hours in the case
of offers emanating from the origins.
The competitiveness of offers will be assessed by taking
into account the standard differentials, the cost of taking
cocoa into store (currently 23.00 pounds sterling from 'cif
landed' and 38.00 pounds sterling from 'cif shipping weights'
to 'in store') and the cost of carry which currently is 12.00
pounds sterling per month, the ICCO said.
No more than four offers will be considered from each
offering party, it added.
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test/18223 | test/18223 |@title group:1 lift:1 stake:1 scandinavia:1 fund:1 scf:1 |@word foreign:1 investment:2 group:2 tell:1 securities:1 exchange:1 commission:1 raise:1 stake:1 scandinavia:2 fund:1 inc:1 3:1 040:1 600:1 share:4 46:1 6:1 pct:2 total:1 outstanding:1 2:2 829:1 300:2 43:1 include:1 ingemar:1 rydin:1 industritillbehor:1 ab:1 swedish:1 firm:2 vbi:1 corp:1 british:1 west:1 indie:1 norwegian:1 investor:1 erik:1 vik:1 say:1 buy:1 211:1 common:1 since:1 april:1 30:1 price:1 range:1 10:2 000:1 625:1 dlrs:1 | GROUP LIFTS STAKE IN SCANDINAVIA FUND <SCF>
A foreign investment group told the
Securities and Exchange Commission it raised its stake in
Scandinavia Fund Inc to 3,040,600 shares, or 46.6 pct of the
total outstanding, from 2,829,300 shares, or 43.2 pct.
The group, which includes Ingemar Rydin Industritillbehor
AB, a Swedish firm, VBI Corp, a British West Indies investment
firm, and Norwegian investor Erik Vik, said it bought 211,300
Scandinavia common shares since April 30 at prices ranging from
10.000 to 10.625 dlrs a share.
|
test/18225 | test/18225 |@title mueller:1 brass:1 lower:1 product:1 price:1 |@word mueller:1 brass:3 co:1 say:1 effective:1 shipment:1 today:1 adjust:1 price:1 mill:1 product:2 except:1 free:1 cut:1 rod:1 related:2 alloy:1 copper:2 water:1 tube:1 reflect:1 contain:1 value:1 73:1 cent:2 pound:1 two:1 | MUELLER BRASS LOWERS PRODUCT PRICES
Mueller Brass Co said that
effective with shipments today, it is adjusting the price of
all brass mill products, except free-cutting brass rod and
related alloys and copper water tube and related products, to
reflect contained copper values at 73 cents a pound, down two
cents.
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test/18228 | test/18228 |@title fuel:1 storage:1 tank:1 france:1 burst:1 flame:1 |@word two:1 people:1 miss:1 six:2 injure:1 tank:3 contain:1 thousand:2 cubic:3 metre:3 fuel:2 burst:1 flame:2 today:2 shell:4 storage:2 unit:2 lyon:2 rescue:1 worker:1 say:3 blaze:2 break:1 explosion:2 around:1 1330:1 local:1 time:1 1130:1 gmt:1 subsidiary:1 royal:1 dutch:1 group:1 rd:1 200:1 fireman:1 fight:1 gasoline:2 edouard:1 herriot:1 riverside:1 port:1 complex:1 appear:1 control:1 night:1 fall:1 entire:1 southern:1 section:1 cordone:1 fire:2 destroy:1 five:1 giant:1 threaten:1 four:1 spokesman:1 company:1 estimate:1 seven:1 domestic:1 oil:1 additive:1 burn:2 total:1 capacity:1 10:1 000:1 empty:1 start:1 add:1 | FUEL STORAGE TANKS IN FRANCE BURST INTO FLAMES
Two people were missing and six
injured after tanks containing thousands of cubic metres of
fuel burst into flames today at a Shell storage unit in Lyon,
rescue workers said.
The blaze broke out with an explosion around 1330 local
time (1130 GMT). Shell is a subsidiary of the Royal Dutch/Shell
Group <RD>.
Some 200 firemen fought the flames at the gasoline storage
unit at Edouard Herriot riverside port complex and appeared to
have the blaze under control as night fell. The entire southern
section of Lyon was cordoned off.
The fire destroyed five giant tanks and threatened four
others, the Shell spokesman said. He said that the company
estimated between six and seven thousand cubic metres of
domestic fuel oil, gasoline and additives had been burned.
The total capacity of the burning tanks was over 10,000
cubic metres, but some had been empty when an explosion started
today's fire, he added.
|
test/18229 | test/18229 |@title pay:1 n:1 pak:1 pnp:1 receive:1 amend:1 proposal:1 |@word pay:3 n:3 pak:3 stores:1 inc:1 say:4 receive:5 revision:1 one:1 two:1 previously:1 disclose:1 proposal:5 buy:1 company:3 leveraged:1 buyout:1 firm:1 amend:1 increase:1 dividend:2 rate:2 cumulative:3 preferred:4 stock:5 pnp:3 shareholder:3 13:1 5:2 pct:2 17:2 previoiusly:1 announce:1 call:1 transaction:1 would:4 combination:1 50:2 dlrs:4 cash:2 2:1 liquidation:3 value:3 common:2 share:2 paul:1 bilzerian:3 blended:1 basis:2 16:1 67:1 3:1 33:1 redeemable:1 set:1 joint:1 opinion:1 financial:2 advisor:2 prefer:1 trade:1 fully:1 distribute:1 | PAY 'N PAK <PNP> RECEIVES AMENDED PROPOSAL
Pay 'N Pak Stores Inc said it
received a revision to one of the two previously disclosed
proposals to buy the company.
Pay 'N Pak said that the proposal from a leveraged buyout
firm had been amended to increase the dividend rate on the
cumulative preferred stock to be received by PNP shareholders
from 13.5 pct to 17.5 pct.
As previoiusly announced, the proposal calls for a
transaction in which PNP shareholders would receive a
combination of 17.50 dlrs in cash and 2.50 dlrs in liquidation
value of cumulative preferred stock for each common share.
Under the other proposal received from Paul Bilzerian, PNP
shareholders would receive on a blended basis 16.67 dlrs in
cash and 3.33 dlrs in liquidation value of cumulative
redeemable preferred stock for each common share, the company
said.
Under the Bilzerian proposal, the dividend rate on the
preferred stock would be set so that in the joint opinion of
the financial advisor to Bilzerian and the financial advisor to
Pay 'N Pak, the preferred stock would trade at its liquidation
value on a fully distributed basis, the company said.
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test/18231 | test/18231 |@title u:2 protect:1 american:1 ship:1 |@word military:3 force:2 mideast:1 gulf:6 order:1 protect:6 american:3 flag:3 vessel:2 occasional:1 u:7 arm:3 delivery:1 ship:5 non:2 belligerent:3 state:3 area:1 pentagon:3 say:8 today:1 one:1 ever:1 support:2 policy:1 shipping:2 water:1 spokesman:1 bob:1 sims:3 reagan:1 administration:1 draw:1 plan:1 increase:1 protective:1 presence:1 deny:1 publish:1 report:1 defense:1 secretary:1 caspar:1 weinberger:1 seek:1 air:2 cover:2 neutral:1 western:1 attack:2 iran:1 iraq:2 repeatedly:1 protection:1 exception:1 limited:1 case:2 basis:1 carry:1 foreign:1 sale:1 equipment:1 friendly:1 region:1 sim:2 warship:2 two:1 week:1 ago:1 kuwaiti:2 sail:1 bahrain:2 kuwait:3 washington:1 receive:1 assurance:1 would:1 use:1 elsewhere:1 turn:1 11:2 oil:1 tanker:3 firm:1 fly:1 consider:1 despite:1 iranian:2 charge:1 war:1 come:1 repeat:1 refuse:1 united:1 states:1 beef:1 seven:1 middle:1 east:1 task:1 kuaiti:1 official:1 additional:1 consideration:1 | U.S. TO PROTECT ONLY AMERICAN SHIPS
U.S. military forces in the Mideast
Gulf are under orders to protect only American flag vessels and
occasional U.S. arms deliveries on other ships to
'non-belligerent' states in the area, the Pentagon said today.
'No one has ever stated or supported a policy of protecting
all shipping in those waters,' Pentagon spokesman Bob Sims said
as the Reagan Administration drew up plans to increase the
protective U.S. military presence in the gulf.
Sims denied published reports that U.S. Defense Secretary
Caspar Weinberger sought air cover to protect all neutral
shipping in the western gulf from attacks by Iran and Iraq.
'As we have said repeatedly, only American flag vessels are
under our protection with the exception, on a limited
case-by-case basis, of ships carrying our Foreign Military
Sales equipment to friendly, non-belligerent states in the
region,' Sims said.
U.S. warships in the gulf two weeks ago protected a Kuwaiti
ship which sailed to Bahrain with U.S. arms for Bahrain and
Kuwait. But Sims said Washington had received assurances that
the the arms would not be used elsewhere.
He said Kuwait, which is turning 11 oil tankers over to
U.S. firms to fly the American flag and be protected by the
U.S. warships, is not considered a belligerent despite Iranian
charges that Kuwait is supporting Iraq in the gulf war.
Kuwaiti tankers have come under repeated Iranian attack.
Sims refused to say how the United States will beef up its
seven-ship Middle East Task Force in the gulf to protect the 11
Kuaiti tankers. But Pentagon officials said that additional
ships and air cover are under consideration.
|
test/18232 | test/18232 |@title viacom:2 say:2 federal:2 court:2 reject:2 request:2 block:2 planned:2 merger:2 |@word | VIACOM SAYS FEDERAL COURT REJECTS REQUEST TO BLOCK PLANNED MERGER
VIACOM SAYS FEDERAL COURT REJECTS REQUEST TO BLOCK PLANNED MERGER
|
test/18234 | test/18234 |@title asamera:1 asm:1 complete:1 refinery:1 sale:1 |@word asamera:3 inc:2 say:2 wholly:1 oil:2 u:2 conclude:1 25:2 mln:1 dlr:1 sale:1 denver:1 refinery:1 total:2 petroleum:1 north:1 america:1 ltd:1 addition:1 purchase:1 crude:1 refined:1 product:1 inventory:1 market:1 value:1 | ASAMERA <ASM> COMPLETES REFINERY SALE
Asamera Inc said wholly owned
Asamera Oil (U.S.) Inc concluded the 25.25 mln U.S. dlr sale of
its Denver refinery to Total Petroleum North America Ltd.
In addition, Total is purchasing crude oil and refined
product inventories at market value, Asamera said.
|
test/18236 | test/18236 |@title court:1 decline:1 block:1 viacom:1 via:1 merger:1 |@word viacom:2 international:1 inc:2 say:1 u:1 district:2 court:1 southern:1 new:1 york:1 deny:1 motion:1 carsey:2 werner:2 co:1 temporary:1 injunction:1 block:1 propose:1 merger:1 subsidiary:1 national:1 amusements:1 producer:1 cosby:1 show:1 | COURT DECLINES TO BLOCK VIACOM <VIA> MERGER
Viacom International Inc said the U.S.
District Court for the Southern District of New York denied the
motion of <Carsey-Werner Co> for a temporary injunction to
block the proposed merger of Viacom with a subsidiary of
<National Amusements Inc>.
Carsey-Werner is the producer of the Cosby Show.
|
test/18238 | test/18238 |@title aegon:2 n:1 v:1 aegn:1 buy:1 life:1 investor:1 share:1 u:1 |@word holding:1 corp:1 unit:1 aegon:2 n:1 v:1 netherlands:1 life:3 investors:1 inc:1 linv:1 say:2 purchase:2 451:1 000:1 share:3 investor:2 common:2 stock:2 51:1 61:1 dlrs:1 per:1 cash:1 part:1 agreement:1 two:1 company:2 make:1 november:1 1981:1 april:1 30:1 1983:1 1987:1 would:2 offer:2 buy:2 one:1 sixth:1 number:1 outstanding:1 dec:2 31:2 1982:1 already:1 1988:1 remain:1 | AEGON N.V. <AEGN.AS> BUYS LIFE INVESTORS SHARES
AEGON U.S. Holding Corp, a
unit of AEGON N.V. of the Netherlands, and Life Investors Inc
<LINV.O> said they have purchased about 451,000 shares of Life
Investors common stock for 51.61 dlrs per share cash.
The purchase is part of an agreement between the two
companies made in November 1981, saying that on or before each
April 30 between 1983 and 1987 the companies would offer to buy
one-sixth of the number of Life Investors' common stock
outstanding as of Dec. 31, 1982, not already owned by AEGON.
On Dec. 31 1988 they would offer to buy any and all
remaining shares.
|
test/18239 | test/18239 |@title wesbanco:1 wsbc:1 acquire:1 bank:1 sissonville:1 |@word wesbanco:2 inc:1 say:3 board:1 execute:1 merger:2 agreement:1 bank:3 sissonville:3 complete:1 50:1 000:1 share:2 common:2 stock:2 outstanding:1 convert:1 2:1 75:1 company:2 total:1 asset:1 25:1 5:1 mln:1 dlrs:1 dec:1 31:1 1986:1 | WESBANCO <WSBC.O> ACQUIRING BANK OF SISSONVILLE
Wesbanco Inc said its board
executed a merger agreement with the <Bank of Sissonville>.
When the merger is completed, each of the 50,000 shares of
the Bank of Sissonville common stock outstanding will be
converted into 2.75 shares of Wesbanco common stock, the
company said.
The Bank of Sissonville has total assets of 25.5 mln dlrs
as of Dec 31, 1986, the company said.
|
test/18242 | test/18242 |@title municipal:1 financial:1 corp:1 mfc:1 six:1 mth:1 net:1 |@word period:1 end:1 april:1 30:1 shr:2 71:1 ct:4 vs:4 42:1 dilute:1 62:1 38:1 net:1 2:1 629:1 704:1 1:1 721:1 384:1 revs:1 39:1 5:1 mln:2 32:1 0:1 | MUNICIPAL FINANCIAL CORP <MFC.TO> SIX MTHS NET
Period ended April 30
Shr 71 cts vs 42 cts
Shr diluted 62 cts vs 38 cts
Net 2,629,704 vs 1,721,384
Revs 39.5 mln vs 32.0 mln
|
test/18243 | test/18243 |@title commonwealth:1 mortgage:1 ccmc:1 4th:1 qtr:1 net:1 |@word qtr:1 end:1 april:1 30:1 shr:2 32:1 ct:3 vs:6 20:1 net:2 1:3 981:1 681:1 dlrs:5 022:1 451:1 avg:2 shrs:2 6:1 220:1 000:5 5:3 120:2 12:1 mth:1 22:1 59:1 7:1 005:1 3:1 030:1 737:1 808:1 note:1 full:1 name:1 company:1 commonwealth:1 mortgage:1 co:1 inc:1 | COMMONWEALTH MORTGAGE <CCMC.O> 4TH QTR NET
Qtr ends April 30
Shr 32 cts vs 20 cts
Net 1,981,681 dlrs vs 1,022,451 dlrs
Avg shrs 6,220,000 vs 5,120,000
12 mths
Shr 1.22 dlrs vs 59 cts
Net 7,005,000 dlrs vs 3,030,000 dlrs
Avg shrs 5,737,808 vs 5,120,000
NOTE: full name of company is commonwealth mortgage co inc.
|
test/18249 | test/18249 |@title aaron:1 rents:1 inc:1 aron:1 year:1 net:1 |@word year:1 end:1 march:1 31:1 shr:1 91:1 ct:1 vs:3 1:1 08:1 dlrs:1 net:1 4:1 800:2 000:2 5:1 rev:1 118:1 7:1 mln:2 110:1 3:1 | AARON RENTS INC <ARON.O> YEAR NET
year ended March 31
Shr 91 cts vs 1.08 dlrs
Net 4,800,000 vs 5,800,000
Rev 118.7 mln vs 110.3 mln
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test/18252 | test/18252 |@title holllinger:1 hlg:1 pay:1 50:1 mln:1 dlrs:1 buy:1 |@word hollinger:7 inc:2 pay:1 50:2 mln:8 dlrs:10 cash:1 previously:1 report:3 acquisition:3 privately:1 unimedia:2 chairman:2 conrad:1 black:6 tell:4 reporter:3 annual:1 meeting:2 confirm:1 publish:1 comment:1 press:1 dlr:2 price:1 tag:1 say:6 would:3 wildly:1 inaccurate:1 although:2 decline:1 disclose:2 actual:1 cost:2 montreal:1 base:1 quebec:4 third:1 large:2 newspaper:5 group:1 three:1 french:1 language:1 daily:12 city:1 ottawa:1 chicoutimi:1 four:1 print:1 plant:1 ontario:1 add:4 also:1 continue:3 seek:1 circulation:4 25:2 000:5 reader:1 currently:2 talk:1 10:1 u:2 company:1 23:1 really:1 end:1 one:2 available:1 remain:1 opportunity:1 58:1 pct:1 telegraph:9 plc:1 london:2 become:1 profitable:1 year:7 fourth:1 quarter:4 full:1 1987:2 could:1 break:1 even:1 well:1 cite:1 major:1 reduction:1 labor:1 improve:1 technology:1 britain:1 quality:2 lose:2 13:1 2:1 canadian:1 last:4 chief:1 executive:1 andrew:1 knight:2 rise:2 since:1 september:1 1:3 150:1 weekday:1 despite:1 competition:1 new:1 independent:2 affect:1 growth:1 make:1 inroad:1 time:1 guardian:1 predict:1 post:1 net:1 income:1 55:1 share:3 include:2 extraordinary:2 gain:1 previous:1 sale:1 discontinued:1 operation:3 87:1 6:1 54:1 average:1 loss:3 52:1 shareholder:1 first:3 operate:2 earning:1 amount:1 499:1 ago:1 165:1 revenue:2 102:1 5:1 consolidated:1 figure:1 sharply:1 reduce:1 | HOLLLINGER <HLG.TO> PAYING 50 MLN DLRS FOR BUY
Hollinger Inc will pay about 50 mln dlrs
cash for its previously reported acquisition of privately owned
Unimedia Inc, chairman Conrad Black told reporters after the
annual meeting, confirming a published report.
Commenting on press reports about the 50 mln dlr price tag,
Black said, 'That would not be wildly inaccurate,' although he
declined to disclose the actual cost.
Montreal-based Unimedia is Quebec's third largest newspaper
group, with three French language daily newspapers in Quebec
City, Ottawa and Chicoutimi, Quebec and four printing plants in
Ontario and Quebec.
Black added that Hollinger would also continue seeking
acquisitions of daily newspapers with circulation under 25,000
readers. He said Hollinger was currently talking to about 10
such newspapers in the U.S. where the company currently owns 23
dailies.
'There is really no end to the ones that are available,' he
told reporters, although he added that most remaining
acquisition opportunities are in the U.S.
He said that Hollinger's 58 pct-owned Daily Telegraph PLC,
of London, should become profitable in this year's fourth
quarter.
For full-year 1987, the Daily Telegraph could break even or
better, said Black, citing major reductions in labor costs and
improved technology at the Telegraph, Britain's largest
circulation quality daily. The Telegraph lost 13.2 mln Canadian
dlrs last year.
Daily Telegraph chief executive Andrew Knight told
reporters after the meeting that the Telegraph's daily
circulation had risen by 25,000 since September to about
1,150,000 on weekdays, despite added competition from the new
Independent daily newspaper.
Knight said The Independent was not affecting the
Telegraph's growth, but was making inroads into the circulation
of other London quality dailies such as The Times and The
Guardian.
Hollinger chairman Black predicted Hollinger would post
1987 net income of about 55 mln dlrs, or one dlr a share,
including extraordinary gains from previous sales of
discontinued operations. Hollinger lost 87 mln dlrs or 6.54
dlrs a share last year on fewer average shares and after an
extraordinary loss of 52 mln dlrs.
Black told shareholders that first quarter operating
earnings on continuing operations amounted to 499,000 dlrs
against a year-ago loss of 165,000 dlrs.
Revenues on continuing operations rose to 102.1 mln dlrs
from 1.5 mln dlrs last year, which did not include Daily
Telegraph revenues, he added. Consolidated first quarter
figures were not disclosed.
He said the Daily Telegraph's first quarter operating loss
was sharply reduced from last year.
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test/18253 | test/18253 |@title texas:1 eastern:1 tex:1 unit:1 file:1 new:1 rate:1 |@word algonquin:2 gas:2 transmission:1 co:1 unit:1 texas:1 eastern:1 corp:1 say:3 file:2 federal:1 energy:1 regulatory:1 commission:1 approval:1 new:1 rate:1 schedule:1 also:1 proposed:1 service:2 agreement:1 interruptible:1 firm:1 transportation:1 filing:1 would:1 allow:1 customer:1 move:1 available:1 spot:1 supply:1 price:1 competitive:1 market:1 | TEXAS EASTERN <TEX> UNIT FILES FOR NEW RATES
Algonquin Gas Transmission Co, a unit of
Texas Eastern Corp, said it has filed for Federal Energy
Regulatory Commission approval of new rate schedules.
It said it has also filed for proposed service agreements
for interruptible and firm transportation service.
Algonquin said the filing would allow its customers to move
available spot gas supplies to price competitive markets.
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test/18254 | test/18254 |@title usx:2 x:1 unit:1 raise:1 price:1 certain:1 grade:1 |@word corp:1 uss:1 division:1 say:4 raise:1 price:2 hot:1 roll:1 bar:1 semi:1 finish:1 product:2 1100:1 series:1 grade:1 10:1 dlrs:1 per:2 ton:2 effective:1 july:1 one:1 1987:1 company:2 increase:2 reflect:2 current:2 market:1 condition:1 could:2 percentage:1 much:1 sell:1 currently:1 | USX <X> UNIT RAISES PRICES ON CERTAIN GRADES
USX Corp's USS division said it was
raising prices for all hot rolled bar and semi-finished
products 1100 series grades by 10 dlrs per ton effective July
One, 1987.
The company said the increase reflects current market
conditions.
The company could not say what percentage the increase
reflects from current prices, nor could it say how much per ton
the products sell for currently.
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test/18257 | test/18257 |@title reagan:1 seek:1 romania:1 trade:1 concession:1 |@word president:2 reagan:4 call:2 continued:1 nondiscriminatory:1 treatment:1 romanian:1 export:1 united:2 states:2 face:1 congressional:1 opposition:1 buchar:2 government:2 record:1 human:4 right:4 white:1 house:2 statement:3 say:2 decision:1 press:1 continuation:2 favor:1 nation:1 mfn:4 status:1 romania:4 exceptionally:1 difficult:1 come:1 option:1 seriously:1 consider:1 despite:1 concern:1 abuse:1 decide:1 continue:1 help:1 stimulate:1 emigration:1 give:1 influence:1 practice:1 issue:1 send:1 congress:1 request:1 one:1 year:1 extension:1 hungary:2 china:2 representatives:1 attach:1 trade:1 bill:1 legislation:1 would:1 temporarily:1 deny:1 pende:1 certification:1 country:1 make:1 progress:1 controversy:1 | REAGAN SEEKS ROMANIA TRADE CONCESSION
President Reagan called for continued
nondiscriminatory treatment for Romanian exports to the United
States in the face of congressional opposition because of the
Bucharest government's record on human rights.
A White House statement said Reagan's decision to press for
continuation of so-called Most Favored Nation (MFN) status for
Romania had been 'exceptionally difficult' and came after 'all
options were seriously considered.'
But the statement said that despite concerns about human
rights abuses by the Bucharest government, the president had
decided that should be continued because it helped stimulate
emigration from Romania and gave the United States influence on
human rights practices there.
The statement was issued as Reagan sent to Congress
requests for one-year extensions of MFN for Romania, Hungary
and China.
The House of Representatives has attached to a trade bill
legislation that would temporarily deny MFN for Romania pending
certification by Reagan that the country had made progress on
human rights. There is no controversy over continuation of MFN
for Hungary and China.
|
test/18258 | test/18258 |@title timberline:1 industries:1 inc:1 timb:1 1st:1 qtr:1 net:1 |@word oper:2 shr:1 eight:1 ct:4 vs:4 two:2 net:1 119:1 000:4 32:1 sale:1 12:1 0:1 mn:1 11:1 3:1 mln:1 note:1 current:1 qtr:1 figure:1 exclude:1 loss:2 discontinue:1 operation:1 30:1 dlrs:2 per:2 share:2 54:1 four:1 | TIMBERLINE INDUSTRIES INC <TIMB.O> 1ST QTR NET
Oper shr eight cts vs two cts
Oper net 119,000 vs 32,000
Sales 12.0 mn vs 11.3 mln
Note: Current qtr figures exclude loss from discontinued
operations of 30,000 dlrs, or two cts per share, vs loss of
54,000 dlrs, or four cts per share.
|
test/18263 | test/18263 |@title ccc:1 accept:1 bonus:1 barley:1 saudi:1 arabia:1 |@word commodity:2 credit:1 corporation:2 ccc:3 accept:2 bid:1 export:2 bouse:1 cover:1 sale:1 150:1 000:3 tonne:4 u:3 barley:3 saudi:2 arabia:2 agriculture:1 department:1 say:3 three:2 bonus:2 offer:1 one:1 exporter:1 average:1 40:1 88:1 dlrs:1 per:1 delivery:1 august:1 15:2 november:1 30:1 shiment:1 50:1 award:1 make:1 louis:1 dreyfus:1 pay:1 form:1 stock:1 additional:1 350:1 still:1 available:1 enhancement:1 program:1 initiative:1 annnounce:1 may:1 1987:1 | CCC ACCEPTS BONUS ON BARLEY TO SAUDI ARABIA
The Commodity Credit Corporation, CCC,
has accepted bids for export bouses to cover sales of 150,000
tonnes of U.S. barley to Saudi Arabia, the U.S. Agriculture
Department said.
The CCC accepted three bonus offers from one exporter which
averaged 40.88 dlrs per tonne, it said.
The barley is for delivery August 15-November 30 in three
shiments of 50,000 tonnes each.
The bonus awards were made to Louis Dreyfus Corporation and
will be paid in the form of commodities from CCC stocks.
An additional 350,000 tonnes of U.S. barley are still
available to Saudi Arabia under the Export Enhancement Program
initiative annnounced on May 15, 1987, it said.
|
test/18271 | test/18271 |@title last:1 minute:1 opposition:1 gulf:1 bill:1 arise:1 |@word house:4 speaker:1 jim:1 wright:1 predict:1 passage:1 legislation:2 require:1 reagan:3 administration:3 provide:1 congress:1 report:2 mideast:1 gulf:3 policy:3 last:1 minute:1 revolt:1 alliance:2 liberal:3 conservative:2 leave:1 bill:4 fate:1 doubt:1 write:1 wake:1 may:1 17th:1 iraqi:1 missile:1 attack:1 u:3 frigate:1 stark:1 kill:1 37:1 americans:1 president:1 decision:1 protect:1 11:1 kuwaiti:1 oil:1 tanker:1 put:1 flag:1 effectively:1 make:2 american:1 ship:1 since:1 know:1 reflagge:1 plan:2 congressional:2 leader:1 complain:1 consult:1 charge:1 could:1 lead:1 united:1 states:1 6:1 1:1 2:1 year:1 old:1 war:1 iran:1 iraq:1 vote:1 today:2 support:1 democratic:1 republican:1 leadership:1 demand:1 within:1 seven:1 day:1 meet:1 security:1 need:1 force:1 resolution:2 expect:1 pass:1 without:1 controversy:1 foreign:1 affairs:1 committee:2 full:1 take:1 surprise:1 move:1 democrat:1 republicans:1 join:1 unusual:1 oppose:1 democrats:1 say:1 lack:1 restriction:1 imply:1 consent:1 | LAST-MINUTE OPPOSITION TO GULF BILL ARISES
House Speaker Jim Wright predicted
passage of legislation requiring the Reagan administration to
provide Congress with a report on its Mideast Gulf policy, but
a last-minute revolt by an alliance of liberals and
conservatives left the bill's fate in doubt.
The legislation was written in the wake of the May 17th
Iraqi missile attack on the U.S. frigate Stark in the Gulf,
which killed 37 Americans, and President Reagan's decision to
protect 11 Kuwaiti oil tankers by putting them under U.S. flags
-- effectively making them American ships.
Since the administration made known its reflagging plans,
congressional leaders complained they had not been consulted,
and some charged the policy could lead the United States into
the 6 1/2-year-old war between Iran and Iraq.
The House was to vote today on a bill -- supported by the
Democratic and Republican congressional leadership and the
administration -- which demanded a report within seven days on
plans to meet the security needs of U.S. forces in the gulf.
The resolution was expected to pass without controversy
today in the House Foreign Affairs Committee before the full
House was to take up the bill. But in a surprise move, liberal
Democrats and conservative Republicans on the committee joined
in an unusual alliance to oppose the resolution.
Liberal Democrats said a lack of any restrictions in the
bill implied consent to Reagan's policies.
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test/18275 | test/18275 |@title usda:1 set:1 0:1 92:1 provision:1 producer:1 |@word producer:7 1987:4 acreage:6 reduction:2 program:4 may:3 eligible:3 deficiency:1 payment:1 92:2 pct:2 enrol:1 even:1 though:1 none:1 plant:3 wheat:7 crop:4 u:1 agriculture:1 department:3 say:4 provision:1 farm:3 disaster:4 assistance:1 act:1 available:1 winter:2 type:1 prevent:1 1986:3 natural:2 operate:1 basis:1 subject:1 flood:1 50:1 permit:1 enroll:1 become:1 sign:1 later:1 july:1 15:1 inform:1 local:1 office:1 application:1 accept:1 use:1 0:1 option:1 preventedf:1 intend:1 harvest:1 occur:2 locate:1 county:1 approve:1 farmers:1 home:1 administration:1 emergency:1 loan:1 | USDA SETS 0/92 PROVISION FOR SOME PRODUCERS
Some producers in the 1987 acreage
reduction program may be eligible for deficiency payments on 92
pct of their enrolled acreage even though none of it is planted
with wheat or other program crops, the U.S. Agriculture
Department said.
The department said the provision of the Farm Disaster
Assistance Act will be available to all eligible winter wheat
producers, producers of other types of wheat who were prevented
from planting their 1987 wheat crop because of a 1986 natural
disaster, and all producers who operate farms with program crop
acreage bases subject to flooding on 50 pct of such crop's
permitted acreage.
A producer who did not enroll in the 1987 acreage reduction
program may become eligible by signing-up no later than July
15. Producers will be informed by the local offices when
applications are being accepted, it said.
The department said producers of wheat other than winter
wheat may use the 0/92 option if they were preventedf from
planting their intended acreage with wheat for harvest in 1987
because of any natural disasters which occured in 1986 or if
the farm is located in a county approved by Farmers Home
Administration for emergency loans for such disasters that
occurred in 1986.
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test/18276 | test/18276 |@title ccc:1 accept:1 bonus:1 poultry:1 iraq:1 usda:1 |@word commodity:2 credit:1 corporation:1 ccc:2 accept:1 bid:1 export:2 bonus:3 cover:1 sale:1 15:1 000:1 tonne:1 frozen:2 poultry:4 iraq:2 u:1 agriculture:1 department:1 say:2 shipment:1 june:1 september:1 719:1 80:1 dlrs:1 per:1 tone:1 award:1 make:1 conagra:1 co:1 pay:1 form:1 inventory:1 stock:1 purchase:1 complete:1 enhancement:1 initiative:1 announce:1 december:1 22:1 1986:1 | CCC ACCEPTS BONUS ON POULTRY TO IRAQ -- USDA
The Commodity Credit Corporation (CCC)
has accepted a bid for an export bonus to cover the sale of
15,000 tonnes of frozen poultry to Iraq, the U.S. Agriculture
Department said.
The poultry is for shipment June-September and the bonus
was 719.80 dlrs per tone, it said.
The bonus award was made to ConAgra Poultry Co and will be
paid in the form of commodities from the inventory of CCC
stocks.
The purchase completes the Export Enhancement initiative
for Frozen Poultry to Iraq announced December 22, 1986.
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test/18277 | test/18277 |@title ccc:1 accept:1 bonus:1 poultry:1 egypt:1 usda:1 |@word commodity:2 credit:1 corporation:1 ccc:2 accept:1 bid:1 two:1 bonus:3 offer:1 cover:1 sale:1 10:1 000:3 tonne:5 frozen:3 poultry:3 egypt:2 u:1 agriculture:1 department:2 say:2 shipment:1 november:1 1987:2 august:1 1988:1 473:1 99:1 dlrs:1 per:1 fryer:1 leg:1 make:1 gress:1 foods:1 inc:1 5:2 serva:1 international:1 ltd:1 subsidy:1 pay:1 exporter:1 form:1 stock:1 additional:1 8:1 500:1 remain:1 available:1 export:1 enhancement:1 program:1 initiative:1 announce:1 dec:1 19:1 1986:1 feb:1 27:1 | CCC ACCEPTS BONUS ON POULTRY TO EGYPT -- USDA
The Commodity Credit Corporation (CCC)
has accepted a bid for two bonus offers to cover the sale of
10,000 tonnes of frozen poultry to Egypt, the U.S. Agriculture
Department said.
The poultry is for shipment November, 1987, through August,
1988, and the bonus was 473.99 dlrs per tonne for the frozen
fryer legs. The bonuses were made to Gress Foods, Inc (5,000
tonnes), and Serva International Ltd (5,000 tonnes).
The subsidies will be paid to the exporters in the form of
commodities from CCC stocks.
An additional 8,500 tonnes of frozen poultry remain
available to Egypt under the Export Enhancement Program
initiative announced Dec 19, 1986, and Feb 27, 1987, the
department said.
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test/18280 | test/18280 |@title phelps:1 dodge:1 pd:1 see:1 strong:1 copper:1 price:1 |@word phelps:4 dodge:4 corp:2 official:1 say:12 good:3 fundamental:3 copper:8 market:1 lead:1 improve:1 price:5 metal:2 interview:2 reuters:1 chairman:1 g:1 robert:1 durham:3 continue:3 strong:2 demand:5 low:2 inventory:1 push:1 eight:1 nine:1 pct:1 new:5 york:1 commodities:1 exchange:1 last:2 month:1 customer:1 country:1 live:1 tailgate:1 truck:1 refer:1 tightness:1 supply:2 ask:1 rise:4 know:1 ignore:1 almost:1 20:1 year:4 second:1 high:1 record:1 behind:1 1984:1 nation:1 large:1 company:4 annual:2 production:6 expect:1 reach:1 500:1 000:1 ton:1 executive:1 vice:1 president:1 douglas:1 yearley:2 believe:1 matter:1 time:1 many:1 project:1 come:1 short:1 major:1 recession:1 grow:1 modestly:1 july:1 delivery:1 two:1 ct:2 pound:3 69:1 cent:2 comex:1 trading:1 today:1 one:1 yield:1 10:1 mln:1 dlrs:1 earning:1 surprisingly:1 1987:1 construction:1 area:1 later:1 bingham:1 utah:1 mine:4 kennecott:1 unit:1 british:1 petroleum:1 co:2 plc:1 bp:1 standard:1 oil:1 guinea:1 expand:1 morenci:1 ariz:1 offset:1 shortfall:1 mexico:2 zambia:1 cost:2 locate:1 chino:1 line:1 conventional:1 fourth:1 quarter:1 total:1 include:1 depreciation:1 interest:1 corporate:1 expense:1 50:1 late:1 1989:1 1990:1 | PHELPS DODGE <PD> SEES STRONGER COPPER PRICES
Phelps Dodge Corp officials said good
fundamentals in copper markets should lead to improving prices
for the metal.
In an interview with Reuters, chairman G. Robert Durham
said continued strong demand and low inventories pushed prices
up eight to nine pct on the New York Commodities Exchange last
month.
'Our customers in this country are living off the tailgates
of our trucks,' he said, referring to tightness of supply and
strong demand. 'The fundamentals are good.'
Asked if metal prices will continue to rise, Durham said;
'All I know is, fundamentals cannot be ignored.'
He said copper supplies are lower than they have been for
almost 20 years. Last year, copper demand was second highest on
record behind 1984, he said.
Phelps Dodge is the nation's largest copper company, with
annual production expected to reach 500,000 tons this year.
During the interview, executive vice president Douglas
Yearley said he believed it was only a matter of time before
the copper price rose 'because there aren't that many new
projects coming on, and demand, short of a major recession,
will continue to grow modestly.'
Copper for July delivery rose more than two cts a pound to
more than 69 cents in Comex trading today. A one cent a pound
rise in copper prices yields 10 mln dlrs in annual earnings for
Phelps Dodge, the company said.
'Demand has been surprisingly good in 1987, in construction
and other areas,' Yearley said.
New production later this year from a Bingham, Utah, mine
owned by Kennecott Corp, a unit of British Petroleum Co PLC's
<BP> Standard Oil Co, a mine in New Guinea and Phelps Dodge's
own expanded Morenci, Ariz., mine will be offset by production
shortfalls in Mexico and Zambia, he said.
Durham said production costs at the New Mexico-located
Chino mine will be in line with conventional copper production
at the company's other mines by the fourth quarter. The
company's total production costs, including depreciation but
before interest and corporate expense, should be below 50 cts a
pound by late 1989 or 1990, he said.
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test/18281 | test/18281 |@title ccc:1 credit:1 guarantee:1 haiti:1 amend:1 |@word commodity:2 credit:4 corporation:1 ccc:1 amend:1 export:4 guarantee:4 program:1 line:1 haiti:3 add:1 one:1 mln:3 dlrs:3 sale:2 u:2 wood:2 product:2 agriculture:1 department:2 say:2 action:1 increase:1 value:2 1:1 8:2 2:1 total:1 authorize:1 current:1 fiscal:1 year:1 12:1 0:1 must:1 register:1 complete:1 sept:1 30:1 1987:1 note:1 | CCC CREDIT GUARANTEES TO HAITI AMENDED
The Commodity Credit Corporation (CCC)
has amended its Export Credit Guarantee Program line to Haiti
to add one mln dlrs in guarantees for sales of U.S. wood
products, the U.S. Agriculture Department said.
The action increases the value of export credit guarantees
for wood products to Haiti from 1.8 to 2.8 mln dlrs and the
total value of export credit guarantees authorized to Haiti for
the current fiscal year for all commodities to 12.0 mln dlrs,
the department said.
All sales must be registered and exports completed by Sept
30, 1987, it noted.
|
test/18283 | test/18283 |@title texas:1 american:1 energy:1 corp:1 tae:1 1st:1 qtr:1 |@word shr:1 42:1 ct:2 vs:3 22:1 net:1 3:1 445:1 000:2 2:1 326:1 revs:1 41:1 7:1 mln:2 51:1 5:1 | TEXAS AMERICAN ENERGY CORP <TAE> 1ST QTR
Shr 42 cts vs 22 cts
Net 3,445,000 vs 2,326,000
Revs 41.7 mln vs 51.5 mln
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test/18294 | test/18294 |@title intermetco:1 ltd:1 int:1 six:1 mth:1 april:1 30:1 net:1 |@word shr:1 18:1 ct:2 vs:3 27:1 net:1 283:1 000:2 435:1 rev:1 97:1 8:1 mln:2 95:1 1:1 | INTERMETCO LTD <INT.TO> SIX MTHS APRIL 30 NET
Shr 18 cts vs 27 cts
Net 283,000 vs 435,000
Revs 97.8 mln vs 95.1 mln
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test/18296 | test/18296 |@title feed:1 release:1 u:1 april:1 consumer:1 credit:1 june:1 5:1 |@word federal:1 reserve:1 board:1 say:1 would:1 release:2 april:1 consumer:2 instalment:1 credit:2 figure:1 friday:1 fix:1 time:1 set:1 fall:1 seasonally:1 adjusted:1 63:1 mln:1 dlrs:2 march:1 rise:1 1:1 01:1 billion:1 february:1 | FED TO RELEASE U.S. APRIL CONSUMER CREDIT JUNE 5
The Federal Reserve Board said it
would release April consumer instalment credit figures on
Friday.
No fixed time was set for the release.
Consumer credit fell a seasonally adjusted 63 mln dlrs in
March after rising 1.01 billion dlrs in February.
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test/18297 | test/18297 |@title u:1 wheat:1 senegal:1 market:1 usda:1 |@word highly:1 favorable:1 reception:1 trial:2 batch:2 bread:1 bake:2 300:1 lb:1 u:8 wheat:8 flour:2 last:2 february:1 senegalese:1 appear:1 ready:1 take:1 delivery:3 first:1 tranche:1 10:1 500:1 tonne:3 mixed:1 agriculture:1 department:3 say:2 report:1 export:2 market:2 grain:1 note:1 senegal:2 buy:1 100:1 000:2 enhancement:1 program:1 november:1 local:2 opposition:1 miller:2 accustom:1 french:2 delay:1 result:1 series:1 seminar:1 well:1 effort:1 satisfy:1 convince:1 key:1 official:1 quality:1 remain:1 track:1 could:1 dominate:1 expect:1 import:1 140:1 mostly:1 1987:1 88:1 july:1 june:1 season:1 | U.S. WHEAT IN SENEGAL MARKET -- USDA
After a highly favorable reception of
a trial batch of bread baked from 300 lbs of U.S. wheat flour
last February, the Senegalese appear ready to take delivery of
a first tranche of 10,500 tonnes of mixed U.S. wheat, the U.S.
Agriculture Department said.
In its report on U.S. Export Markets for U.S. Grain, the
department noted Senegal had bought 100,000 tonnes of wheat
under the Export Enhancement Program last November, but local
opposition from millers, accustomed to French wheat, has been
delaying deliveries.
As a result there were a series of baking seminars as well
as the trial batch, in an effort to satisfy local flour millers
and convince key officials of the qualities of U.S. wheat.
The department said if deliveries of U.S. wheat to Senegal
remain on track, the U.S. could dominate a wheat market that
had been expected to import 140,000 tonnes of mostly French
wheat during the 1987/88 (July-June) season.
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test/18300 | test/18300 |@title professor:1 lift:1 banc:1 texas:1 btx:1 prefer:1 stake:1 |@word university:1 massachusetts:1 finance:1 professor:1 say:3 raise:1 stake:1 banc:1 texas:1 group:1 inc:1 45:1 340:1 share:3 1:1 4625:1 dlr:1 cumulative:2 prefer:2 stock:3 7:1 4:1 pct:3 total:3 30:1 300:1 5:2 0:1 filing:1 securities:1 exchange:1 commission:1 ben:1 shirley:1 branch:2 also:1 buy:2 52:1 025:1 class:1 convertible:1 preferred:1 9:1 160:1 000:2 dlrs:2 bring:1 investment:2 series:1 330:1 reserve:1 right:1 try:1 influence:1 company:1 | PROFESSOR LIFTS BANC TEXAS <BTX> PREFERRED STAKE
A University of Massachusetts finance
professor said he raised his stake in Banc Texas Group Inc to
45,340 shares of 1.4625 dlr cumulative preferred stock, or 7.4
pct of the total, from 30,300 shares, or 5.0 pct.
In a filing with the Securities and Exchange Commission,
Ben Shirley Branch also said he bought 52,025 shares of Class A
cumulative convertible preferred stock, or 5.9 pct of the
total, for 160,000 dlrs, bringing his total investment in both
preferred series to about 330,000 dlrs.
Branch said he bought the stock as an investment, but
reserved the right to try to influence the company.
|
test/18302 | test/18302 |@title investment:1 crucial:1 u:1 textile:1 recovery:1 |@word private:2 investment:5 protection:5 u:4 textile:10 industry:5 could:3 become:1 competitive:1 modern:2 foreign:3 producer:4 analyst:3 two:1 congressional:3 agency:2 say:7 today:1 office:2 technology:2 assessment:1 nonpartisan:2 arm:2 congress:4 tell:1 house:2 way:1 mean:1 trade:5 subcommittee:2 hear:1 still:1 concern:1 future:1 part:1 apparel:3 reason:1 optimism:1 year:5 ago:2 make:1 significant:1 ota:1 henry:1 kelly:3 budget:2 cbo:2 analysis:2 federal:1 loan:2 guarantee:1 would:1 preferable:1 option:1 rather:1 increase:1 lead:1 retaliation:1 edward:1 gramlich:1 past:1 first:1 impose:1 1950:1 small:1 benefit:1 profit:1 domestic:4 firm:1 chairman:1 rep:1 sam:1 gibbons:1 seem:2 agree:1 opinion:1 approval:2 protectionist:1 quota:2 legislation:2 aim:1 mainly:1 western:1 europe:1 japan:1 asian:1 produce:1 country:1 president:1 reagan:1 last:1 veto:1 bill:2 reintroduce:1 session:1 expect:1 vote:1 however:1 doubt:1 passage:1 major:1 without:1 specific:1 show:1 weakening:1 support:1 fall:1 behind:1 use:1 production:2 equipment:1 net:1 import:5 grow:3 faster:1 market:3 add:1 clothing:1 1983:1 0:1 5:1 pct:5 less:1 one:1 seventh:1 average:1 manufacturing:1 3:1 9:2 despite:1 exist:1 tariff:1 26:1 1986:1 14:1 rise:1 1:1 traditional:1 destine:1 replace:1 new:1 combination:1 may:1 able:1 compete:1 enjoy:1 twenty:1 result:1 research:1 indicate:1 portion:1 recover:1 export:1 expand:1 | INVESTMENT CRUCIAL TO U.S. TEXTILE RECOVERY
With more private investment, not more
protection, the U.S. textile industry could become competitive
with the most modern foreign producers, analysts from two
congressional agencies said today.
The Office of Technology Assessment, a nonpartisan arm of
Congress told a House Ways and Means Trade Subcommittee hearing
there was still concern for the future of parts of the U.S.
textile and apparel industry, but there was more reason for
optimism than a few years ago.
'While textile producers are making significant
investments, they could do more,' OTA analyst Henry Kelly said.
The Congressional Budget Office (CBO), the nonpartisan
budget analysis arm of Congress, said federal loans or loan
guarantees would be preferable options for Congress rather than
increased trade protection which could lead to foreign
retaliation.
CBO analyst Edward Gramlich said past trade protections,
first imposed in the 1950's have had only a small benefit for
profits and investments of domestic firms.
Trade Subcommittee chairman, Rep. Sam Gibbons, said the
agencies analyses seemed to agree with his opinion against
congressional approval of protectionist textile quota
legislation aimed mainly at Western Europe, Japan and other
Asian textile producing countries.
President Reagan last year vetoed a textile protection bill
but it was reintroduced in this session of Congress and is
expected to be voted on in the House this year.
However, approval this year is in doubt because passage of
a major trade bill without specific protections for textiles
showed a weakening of support for the legislation.
Most U.S. producers have fallen behind other foreign
producers in the use of modern textile and apparel production
equipment and net imports are growing faster than the domestic
markets, Kelly said.
He added that private investment in the textile and
clothing industry in 1983 of 0.5 pct was less than one-seventh
the average manufacturing investment of 3.9 pct.
Despite existing import quotas and tariffs, imports of
textiles grew 26 pct in 1986 and imports of apparel grew 14 pct
while U.S. production rose only 1.9 pct.
'The traditional industry seems destined to be replaced by
new technology, imports, or some combination of both. While the
industry may not be able to compete in all domestic markets
that it enjoyed twenty years ago, the results of our research
indicate that portions of the domestic market can be recovered,
and that exports can be expanded,' Kelly said.
|
test/18303 | test/18303 |@title ione:1 inc:1 six:1 month:1 march:1 31:1 net:1 |@word shr:1 two:1 ct:1 vs:1 n:1 net:1 68:1 281:1 revs:1 639:1 471:1 note:1 company:1 become:1 public:1 march:1 1987:1 | <IONE INC> SIX MONTHS MARCH 31 NET
Shr two cts vs n.a.
Net 68,281
Revs 639,471
NOTE: Company became public in March 1987
|
test/18306 | test/18306 |@title rain:1 aid:1 manitoba:1 crop:1 week:1 |@word widespread:1 soaking:1 rain:2 aid:1 crop:4 development:1 across:2 province:2 northwest:2 produce:1 region:3 receive:1 precipitation:1 accord:1 manitoba:1 agriculture:1 weekly:1 report:2 replenish:1 formerly:1 low:1 soil:1 moisture:1 reserve:2 area:2 rate:1 good:1 say:2 planting:1 virtually:1 complete:1 germination:1 well:1 advanced:1 however:1 field:2 still:1 show:1 spotty:1 stand:1 cereal:1 southwest:1 90:1 pct:3 germinate:1 already:1 subsequent:1 tillering:1 stage:1 oilseed:1 80:1 emerge:2 many:1 50:1 70:1 | RAINS AID MANITOBA CROPS DURING WEEK
Widespread, soaking rains aided crop
development across the province, with the northwest crop
producing region receiving the most precipitation, according to
the Manitoba Agriculture weekly crop report.
The rains replenished formerly low soil moisture reserves,
with reserves in all areas now rated good, the report said.
Plantings were virtually complete across the province and
germination was well advanced. However, some fields still
showed spotty stands.
Cereal crops in the southwest were 90 pct germinated, with
some fields already in the subsequent tillering stage, it said.
Oilseeds in the northwest region were about 80 pct emerged in
many areas, with other regions 50 to 70 pct emerged.
|
test/18307 | test/18307 |@title atlas:1 yellowknife:1 ay:1 six:1 mth:1 loss:1 |@word period:1 end:1 march:1 31:1 shr:1 loss:2 nil:1 vs:3 profit:2 one:1 ct:1 net:1 36:1 000:4 310:1 revs:1 1:2 172:1 686:1 note:1 full:1 name:1 atlas:1 yellowknife:1 resources:1 ltd:1 | ATLAS YELLOWKNIFE <AY.TO> SIX MTHS LOSS
Period ended March 31
Shr loss nil vs profit one ct
Net loss 36,000 vs profit 310,000
Revs 1,172,000 vs 1,686,000
Note: Full name Atlas Yellowknife Resources Ltd.
|
test/18308 | test/18308 |@title woodward:1 ltd:1 wdsa:1 1st:1 qtr:1 may:1 2:1 loss:1 |@word shr:1 loss:4 32:1 ct:2 vs:3 37:1 net:1 5:1 374:1 000:2 6:1 159:1 revs:1 241:1 3:1 mln:2 253:1 2:1 | WOODWARD'S LTD <WDSA.TO> 1ST QTR MAY 2 LOSS
Shr loss 32 cts vs loss 37 cts
Net loss 5,374,000 vs loss 6,159,000
Revs 241.3 mln vs 253.2 mln
|
test/18309 | test/18309 |@title commonwealth:1 mortgage:1 co:1 inc:1 ccmc:1 4th:1 qtr:1 |@word qtr:1 end:1 april:1 30:1 shr:2 32:1 ct:3 vs:5 20:1 net:2 1:3 982:1 000:4 022:1 year:1 22:1 dlrs:1 59:1 7:1 005:1 3:2 030:1 asset:1 191:1 mln:2 116:1 5:1 | COMMONWEALTH MORTGAGE CO INC <CCMC.O> 4TH QTR
Qtr ended April 30.
Shr 32 cts vs 20 cts
Net 1,982,000 vs 1,022,000
Year
Shr 1.22 dlrs vs 59 cts
Net 7,005,000 vs 3,030,000
Assets 191.3 mln vs 116.5 mln
|
test/18311 | test/18311 |@title api:2 say:2 distillate:2 stock:2 2:4 85:2 mln:6 bbls:2 gasoline:2 37:2 crude:2 1:2 13:2 |@word | API SAYS DISTILLATE STOCKS UP 2.85 MLN BBLS, GASOLINE OFF 2.37 MLN, CRUDE OFF 1.13 MLN
API SAYS DISTILLATE STOCKS UP 2.85 MLN BBLS, GASOLINE OFF 2.37 MLN, CRUDE OFF 1.13 MLN
|
test/18313 | test/18313 |@title stockholder:1 win:1 pursue:1 continental:1 cuo:1 bid:1 |@word continental:4 associates:1 group:2 four:1 shareholder:2 hold:1 5:1 02:1 pct:1 materials:1 corp:1 stock:1 say:3 pursue:1 tender:1 offer:1 share:1 tell:1 material:2 director:1 interest:1 sell:1 company:1 late:1 yesterday:1 board:1 decide:1 give:1 consideration:1 business:1 combination:1 propose:1 st:1 louis:1 businessman:1 | STOCKHOLDERS WON'T PURSUE CONTINENTAL <CUO> BID
Continental Associates, a group of four
shareholders who hold about 5.02 pct of of Continental
Materials Corp stock, said it will not pursue a tender offer
for all of its shares.
The shareholders said they were told that Continental
Materials directors had no interest in selling the company.
Late yesterday, Continental Materials board said it decided
not to give further consideration to a 'business combination'
proposed by the group of St. Louis businessmen.
|
test/18317 | test/18317 |@title phelps:1 dodge:1 pd:1 set:1 sight:1 acquisition:1 |@word phelps:5 dodge:5 corp:1 chairman:1 g:1 robert:1 durham:7 say:14 company:6 prepared:1 make:1 another:2 large:2 non:3 copper:13 acquisition:3 deal:3 could:3 strike:1 near:1 future:1 interview:2 reuters:1 examine:1 potential:1 candidate:2 yet:1 talk:2 decline:2 name:1 occur:1 soon:1 second:3 half:1 1987:2 rank:1 producer:1 u:1 last:4 year:4 pay:1 240:1 mln:7 dlrs:9 columbian:2 chemical:2 co:1 maker:1 carbon:1 black:1 use:1 rubber:1 tire:1 among:1 product:1 purchase:1 part:1 strategic:1 plan:1 diversify:1 eventually:1 match:2 earning:4 operation:2 spend:1 250:1 500:1 buy:1 cite:1 100:1 cash:1 580:1 untapped:1 bank:1 credit:1 would:2 different:1 economic:1 cycle:1 substantial:1 good:2 management:2 want:2 friendly:1 add:1 high:2 tech:1 financial:1 service:1 perfume:1 basic:1 industrial:1 fit:1 structure:1 executive:3 also:2 continue:4 strong:2 demand:3 tight:1 supply:2 lead:1 price:3 metal:1 view:1 matter:1 improve:1 many:1 new:2 project:3 come:1 short:1 major:1 recession:1 grow:1 modestly:1 vice:1 president:1 douglas:1 yearley:1 lower:1 cost:3 produce:1 50:1 cent:2 pound:3 depreciation:1 interest:1 corporate:1 expense:1 1989:1 1990:1 production:1 56:1 57:1 compare:1 one:1 dlr:1 1981:1 wall:1 st:1 analyst:2 low:1 almost:1 20:2 result:1 quarter:5 go:1 well:1 rise:3 month:2 help:1 results:1 first:2 11:1 pct:2 16:1 8:1 49:1 ct:1 share:2 sale:1 61:1 5:1 372:1 9:1 reflect:1 increase:1 shipment:1 chino:1 mine:1 mexico:1 acquire:1 2:2 75:1 sharply:1 1:1 79:1 1986:1 | PHELPS DODGE <PD> SETS SIGHTS ON ACQUISITION
Phelps Dodge Corp chairman G. Robert
Durham said the company is prepared to make another large
non-copper acquisition and that a deal could be struck in the
near future.
In an interview with Reuters, Durham said the company was
examining potential candidates but not yet talking with any.
He declined to name the companies but said a deal could
occur as soon as the second half of 1987.
Phelps Dodge, which ranks as the largest copper producer in
the U.S., last year paid 240 mln dlrs for Columbian Chemicals
Co, a maker of carbon black which is used in rubber and tires
among other products.
The purchase was part of a strategic plan to diversify and
eventually match earnings from non-copper operations and copper
operations.
Phelps Dodge could spend between 250 mln and 500 mln dlrs
to buy another non-copper company, Durham said, citing about
100 mln dlrs of cash and 580 mln dlrs of untapped bank credit.
Any acquisition candidate would have to have a different
economic cycle than copper, substantial earnings and good
management, he said. Phelps Dodge would only want a friendly
deal, he added.
'We're not talking high-tech, or financial services or
about a perfume company,' he said. 'We want a good basic
industrial company that will fit into our management
structure,' Durham said.
During the interview, Durham and other executives also said
continued strong demand and tight copper supply should lead to
higher prices for the metal.
'In my view, it's not a matter of if but when the price
(for copper) will improve because there aren't that many new
projects coming on, and demand, short of a major recession,
will continue to grow modestly,' said executive vice president
Douglas Yearley. Phelps Dodge continues to lower its cost of
producing copper, the executives said. Costs should be below 50
cents a pound, after depreciation but before interest and
corporate expense, by 1989 or 1990.
Production costs are about 56 to 57 cents a pound now
compared to one dlr a pound in 1981, some Wall St analysts
said.
Durham said copper supplies are lower than they have been
for almost 20 years and demand continued to be strong.
He declined to project results for the second quarter or
year. But he said the quarter was going well and the rise in
copper prices in the last month will help results.
Durham said last month that the second quarter should match
the first quarter when earnings rose about 11 pct to 16.8 mln
dlrs or 49 cts a share.
First quarter sales rose 61.5 pct to 372.9 mln dlrs,
reflecting the acquisition of Columbian Chemicals and increased
copper shipments from the Chino copper mine in New Mexico, also
acquired last year.
Analysts are projecting 1987 earnings of 2.20 dlrs to 2.75
dlrs a share, up sharply from 1.79 dlrs in 1986.
|
test/18321 | test/18321 |@title treasury:1 publish:1 u:1 reserve:1 asset:1 monthly:1 |@word treasury:2 department:1 say:2 would:1 release:1 datum:1 u:2 reserve:3 asset:3 monthly:1 basis:1 instead:1 quarterly:1 hold:1 gold:1 special:1 drawing:1 right:1 internatinal:1 monetary:1 fund:1 foreign:1 currency:1 position:1 imf:1 total:1 46:1 59:1 billion:2 dlrs:2 end:2 april:1 compare:1 48:1 82:1 march:1 | TREASURY TO PUBLISH U.S. RESERVE ASSETS MONTHLY
The Treasury Department said it would
release data on U.S. reserve assets on a monthly basis from now
on instead of quarterly.
Reserve assets are held in gold, special drawing rights
with the Internatinal Monetary Fund, foreign currencies and in
a U.S. reserve position in the IMF.
Assets totaled 46.59 billion dlrs at the end of April,
compared with 48.82 billion dlrs at the end of March, the
Treasury said.
|
test/18323 | test/18323 |@title mexico:1 plan:1 leave:1 ico:1 |@word mexico:2 intention:1 leave:2 international:1 coffee:4 organization:2 ico:3 event:1 brazil:2 withdraw:1 group:1 mexican:1 institute:1 imc:2 say:3 statement:1 important:1 instrument:1 ensure:1 producer:2 obtain:1 adequate:1 price:1 currently:1 produce:1 around:1 five:1 mln:1 60:1 kilo:1 bag:1 per:1 year:1 meeting:1 rio:1 de:1 janeiro:1 weekend:1 would:1 consider:1 export:1 quota:1 reduce:1 | MEXICO HAS NO PLANS TO LEAVE ICO
Mexico has no intention of leaving
the International Coffee Organization (ICO), in the event of
Brazil withdrawing from the group, the Mexican Coffee Institute
(IMC) said.
The IMC said in a statement the ICO is an important
instrument for ensuring producers obtain an adequate price.
Mexico currently produces around five mln 60-kilo bags of
coffee per year.
Brazil said during a meeting of coffee producers in Rio de
Janeiro over the weekend that it would consider leaving the ICO
if its export quota was reduced by the organization.
|
test/18325 | test/18325 |@title amoco:1 say:1 dome:1 dmp:1 buy:1 good:1 canada:1 |@word amoco:9 corp:1 wholly:1 canada:6 petroleum:2 co:1 ltd:2 say:1 propose:1 5:1 22:1 billion:1 canadian:4 dlr:1 acquisition:2 dome:6 benefit:1 like:1 foreign:1 investment:1 make:2 possible:1 commercial:1 development:1 alberta:1 oilsands:1 president:1 stacy:2 tell:1 oilsand:1 conference:1 present:1 solution:2 problem:1 invest:1 confidence:1 dollar:1 determination:1 work:1 buyout:1 debt:1 burden:1 anger:1 nationalist:1 want:1 buyer:1 describe:1 previously:1 report:1 share:1 offer:1 proposal:1 chance:1 increase:1 ownership:1 country:1 oil:1 gas:1 industry:1 50:1 pct:1 reiterate:1 plan:1 virtually:1 layoff:1 employee:1 also:1 reaffirm:1 would:1 reinvest:1 propertie:1 available:1 cash:1 flow:1 five:1 year:1 | AMOCO <AN> SAYS DOME <DMP> BUY GOOD FOR CANADA
Amoco Corp's wholly owned Amoco
Canada Petroleum Co Ltd said its proposed 5.22-billion-
Canadian-dlr acquisition of Dome Petroleum Ltd will benefit
Canada just like the foreign investment that made possible
commercial development of Alberta's oilsands.
Amoco Canada president T. Don Stacy told an oilsands
conference that 'Amoco Canada has presented the solution to the
Dome problem, and we're investing our confidence, dollars and
determination to make that solution work.'
The Amoco buyout of debt-burdened Dome has angered Canadian
nationalists, who want a Canadian buyer for Dome.
Stacy described Amoco Canada's previously reported share
offer proposal as a chance to increase Canadian ownership of
the country's oil and gas industry, now at about 50 pct.
He reiterated that Amoco planned virtually no layoffs of
Dome employees. He also reaffirmed that Amoco would reinvest in
Amoco Canada-Dome properties all available cash flow for five
years after the acquisition.
|
test/18326 | test/18326 |@title minntech:1 corp:1 mntx:1 4th:1 qtr:1 mar:1 31:1 net:1 |@word opr:4 shr:2 nil:1 vs:8 seven:1 ct:5 net:2 3:1 000:13 99:1 revs:1 2:2 745:1 395:1 avg:2 shrs:2 1:4 500:1 375:1 year:2 24:1 20:1 343:1 271:1 rev:1 10:1 7:1 mln:1 8:1 232:1 459:1 341:1 note:1 earning:1 exclude:1 gain:1 due:1 tax:1 loss:1 carryforward:1 210:1 dlrs:2 14:1 share:1 1987:1 198:1 15:1 1986:1 | MINNTECH CORP <MNTX.O> 4TH QTR MAR 31 NET
Opr shr nil vs seven cts
Opr net 3,000 vs 99,000
Revs 2,745,000 vs 2,395,000
Avg shrs 1,500,000 vs 1,375,000
Year
Opr shr 24 cts vs 20 cts
Opr net 343,000 vs 271,000
Revs 10.7 mln vs 8,232,000
Avg shrs 1,459,000 vs 1,341,000
NOTE: Earnings for year exclude gains due to tax loss
carryforward of 210,000 dlrs or 14 cts a share in 1987 and
198,000 dlrs or 15 cts in 1986.
|
test/18328 | test/18328 |@title u:1 house:1 pass:1 gulf:1 bill:1 despite:1 opposition:1 |@word u:5 house:1 representatives:1 approve:2 bill:6 require:2 reagan:4 administration:4 provide:2 congress:3 report:3 gulf:3 policy:5 place:2 restriction:2 action:1 pass:2 305:1 102:1 win:1 necessary:1 two:1 third:1 voting:1 despite:1 last:1 minute:1 revolt:1 alliance:1 liberal:1 democrats:1 conservative:1 republicans:1 seek:1 defeat:1 signal:1 grow:1 number:1 legislator:1 oppose:1 president:1 region:1 legislation:3 wake:1 may:1 17th:1 iraqi:1 missile:1 attack:1 frigate:1 stark:1 kill:1 37:1 americans:1 decision:1 protect:2 11:1 kuwaiti:2 oil:1 tanker:1 put:1 flag:2 effectively:1 make:1 american:1 ship:3 support:1 democratic:2 republican:1 leadership:1 well:1 defense:1 secretary:1 caspar:1 weinberger:1 within:1 seven:1 day:1 enactment:1 plan:1 warship:1 persian:1 however:1 proceed:1 reflag:1 thus:1 immediate:1 effect:1 senate:1 expect:1 week:1 would:1 send:1 signature:1 supporter:1 say:2 passage:1 first:1 step:1 toward:1 great:1 congressional:1 involvement:1 formulate:1 critic:1 ask:1 address:1 tough:1 question:1 | U.S. HOUSE PASSES GULF BILL DESPITE OPPOSITION
The U.S. House of Representatives
approved a bill that requires the Reagan administration to
provide Congress with a report on its Gulf policy but does not
place any restrictions on its actions.
The bill passed 305-102 -- winning a necessary two-thirds
of those voting -- despite a last-minute revolt by an alliance
of liberal Democrats and conservative Republicans who sought to
defeat it as a signal that a growing number of legislators
oppose President Reagan's policies in the region.
The legislation was passed in the wake of the May 17th
Iraqi missile attack on the U.S. frigate Stark in the Gulf,
which killed 37 Americans, and Reagan's decision to protect 11
Kuwaiti oil tankers by putting them under U.S. flags --
effectively making them American ships.
The legislation -- supported by Congress' Democratic and
Republican leadership as well as by the administration --
required Defense Secretary Caspar Weinberger to provide a
report to Congress, within seven days of enactment, on plans to
protect U.S. warships and flag ships in the Persian Gulf.
It did not, however, place any restrictions on the
administration as it proceeds to reflag the Kuwaiti ships and
thus has no immediate effect on U.S. policy.
The Senate was expected to approve the legislation this
week. The bill would then be sent to Reagan for signature.
Supporters of the bill said passage of the bill was only a
first step toward a greater congressional involvement in
formulating policy.
But Democratic critics said the bill did not ask the
administration to address tough policy questions in the report.
|
test/18329 | test/18329 |@title u:1 senate:1 team:1 want:1 multinational:1 gulf:1 force:1 |@word leader:1 u:4 senate:2 team:2 probe:1 american:3 defense:2 strategy:1 mideast:1 gulf:5 say:6 favor:1 multinational:3 force:5 keep:1 oil:1 flow:1 waterway:1 sen:1 john:2 glenn:4 warner:4 kuwait:2 part:1 arab:3 tour:1 news:1 conference:1 top:1 official:1 area:1 appear:1 ready:1 discuss:1 extra:1 facility:1 need:1 upgrade:1 role:1 next:1 head:1 united:2 emirate:1 last:1 stop:1 fact:1 find:1 mission:1 prompt:1 reagan:1 administration:1 plan:1 let:1 half:1 22:1 tanker:1 fleet:1 fly:1 flag:1 britain:1 france:1 explore:1 possibility:1 unify:1 ship:3 british:2 french:2 talk:2 get:1 formalize:1 arrangement:1 could:1 effectively:1 deploy:1 within:1 24:1 hour:1 decision:1 voice:2 preference:1 nations:1 fail:1 cooperation:1 states:1 concern:1 soviet:1 union:1 may:1 use:1 situation:1 raise:1 presence:1 unequivocally:1 gcc:1 state:1 would:1 interest:1 arabian:1 peninsula:1 | U.S. SENATE TEAM WANTS MULTINATIONAL GULF FORCE
The leaders of a U.S. Senate team probing
American defense strategy in the MidEast Gulf said they favored
a multinational force to keep oil flowing through the waterway.
Sen. John Glenn and John Warner, in Kuwait as part of a
Gulf Arab tour, said at a news conference that top officials in
the area appeared ready to discuss extra facilities needed if
the U.S. upgraded its defense role.
The Senate team next heads for the United Arab Emirates,
their last stop on a fact-finding mission prompted by Reagan
administration plans to let half of Kuwait's 22-tanker fleet
fly the U.S. flag.
Glenn and Warner said the U.S., Britain and France, should
explore the possibility of a unified Gulf force.
'The American ships, the British ships, the French ships now
talk to each other and all we've got to do is formalize this
arrangement,' Warner said.
Glenn said a multinational force could be effectively
deployed within 24 hours of a decision.
Glenn voiced a preference for a United Nations
multinational force, or failing that, an American, British,
French force with cooperation from the Gulf Arab states.
Warner voiced concern that the Soviet Union might use the
situation in the Gulf to raise its presence. 'And,
unequivocally, all GCC states we have talked with, have said
that would not be in the interests of the Arabian peninsula.'
|
test/18332 | test/18332 |@title colombian:1 group:1 suspend:1 bombing:1 pipeline:1 |@word colombian:2 group:1 announce:1 suspension:2 bombing:1 oil:4 pipeline:2 pende:1 government:3 levy:1 social:1 tax:4 foreign:3 petroleum:3 company:1 800:2 mln:3 dlrs:3 fine:2 occidental:2 corp:1 oxy:1 indication:1 would:2 meet:1 condition:2 demand:3 leftist:1 national:1 liberation:1 army:1 eln:4 accord:1 state:1 firm:5 ecopetrol:1 carry:1 72:1 attack:1 1984:1 1986:1 assault:2 recent:1 launch:1 two:1 month:1 ago:1 cause:1 estimate:1 total:1 50:1 damage:1 communique:1 say:1 one:1 dollar:1 per:2 barrel:2 crude:1 pump:2 maintain:1 average:1 225:1 083:1 day:1 colombia:1 authority:1 investigate:1 u:1 alleged:1 evasion:1 charge:2 prove:1 could:1 face:1 penalty:1 | COLOMBIAN GROUP SUSPENDS BOMBINGS OF PIPELINES
A Colombian group announced the suspension
of its bombings of oil pipelines pending the government's levy
of a social tax on foreign petroleum companies and an 800 mln
dlrs fine on the Occidental Petroleum Corp <OXY>.
There was no indication the government would meet the
conditions demanded by the leftist National Liberation Army
(ELN).
According to the state oil firm, ECOPETROL, the ELN carried
out 72 attacks on petroleum pipelines between 1984 and 1986.
The assaults, the most recent launched two months ago, have
caused an estimated total of 50 mln dlrs in damage.
In a communique, the ELN said it would demand a tax of one
dollar per barrel of crude oil pumped by foreign firms as a
condition for maintaining its suspension of the assaults.
Foreign oil firms pump an average of 225,083 barrels per
day in Colombia. Colombian tax authorities are investigating
Occidental, a U.S.-owned firm, for alleged tax evasion.
If the charges are proven, the firm could face a fine of up
to 800 mln dlrs. The ELN demands the government charge the
penalty.
|
test/18334 | test/18334 |@title investment:1 firm:1 7:2 pct:1 midway:1 mdwy:1 |@word two:1 affiliated:1 investment:3 firm:4 tell:1 securities:1 exchange:1 commission:1 acquire:2 593:1 000:1 share:1 midway:1 airlines:1 inc:1 7:2 pct:1 total:1 outstanding:1 common:1 stock:1 boston:1 based:1 fmr:1 corp:1 fidelity:1 international:1 ltd:1 bermuda:1 base:1 advisory:1 say:2 buy:1 stake:2 equity:1 interest:1 company:3 pursuit:1 specify:1 objective:1 may:1 increase:1 decrease:1 plan:1 seek:1 control:1 representation:1 board:1 | INVESTMENT FIRMS HAVE 7.7 PCT OF MIDWAY <MDWY.O>
Two affiliated investment firms told
the Securities and Exchange Commission they have acquired
593,000 shares of Midway Airlines Inc, or 7.7 pct of the total
outstanding common stock.
The firms, Boston-based FMR Corp and Fidelity International
Ltd, a Bermuda-based investment advisory firm, said they bought
the stake 'to acquire an equity interest in the company in
pursuit of specified investment objectives....'
The firms said they may increase or decrease their stake in
the company, but have no plans to seek control of the company
or representation on its board.
|
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