reuters-21578-json

[ { "title": "FIDATA <FID> ANNOUNCES PRELIMINARY ESM SETTLEMENT", "body": "Fidata Corp <FID> and its subsidiary,\nFidata Trust Company New York <FTCNY>, announced that they have\nreached a preliminary settlement agreement in principle in the\nlawsuits filed by major parties arising out of the E.S.M.\nGovernment Securities, Inc bankruptcy.\n Fidata Corp said that it anticipates that the cost of the\nproposed settlement, after anticipated recoveries, will be less\nthan 4 mln dlrs, and possibly significantly less.\n The major terms of the settlement agreement, applicable to\nFidata and FTCNY, provide for the release by Fidata of its\nclaims to 1.125 mln dlrs held by the ESM estate, and the\nfurther payment of 8.425 mln dlrs for distribution to the\npublic body plaintiffs and Home State Savings Bank.\n Fidata said it expects to recover along with its subsidiary\nat least half of the sums to be paid under the terms of the\nagreement, and potentially amounts substantially in excess of\nthat.\n Reuter\n\u0003", "date": "30-MAR-1987 14:22:36.87", "places": [ "usa" ], "id": "11001" }, { "title": "LOUISVILLE GAS<LOU> TO ASK PROTECTIVE MEASURES", "body": "Louisville Gas and Electric Co\nsaid it will ask stockholders at its May 12 annual meeting to\napprove several anti-takeover proposals.\n It said the measures include staggered terms for directors\nand a fair price provision that would require a potential\npurchaser to make the same offer to all stockholders.\n Louisville Gas said the amendments are not in response to\nany specific effort to obtain control of the company.\n Reuter\n\u0003", "date": "30-MAR-1987 14:23:25.56", "places": [ "usa" ], "id": "11002" }, { "title": "TRACOR <TRR> UNIT WINS NAVY CONTRACT", "body": "Tracor Inc said its Tracor Applied\nSciences unit was awarded a 1.9 mln dlr contract by the U.S.\nNavy's Naval Underwater Systems Center.\n Under the contract, Tracor said the unit will provide\nanalytical, experimental, engineering and technical services to\nthe Navy's Surface Ships Antisubmarine Warefare Development\nProgram.\n Reuter\n\u0003", "date": "30-MAR-1987 14:23:31.58", "places": [ "usa" ], "id": "11003" }, { "title": "CAMPBELL SOUP <CPB> TO SELL PLANT IN DELAWARE", "body": "Campbell Soup co said it will sell\nits W.L. Wheatley ingredients plant in Clayton, Del., as a\ngoing operation.\n It said it will continue to operate the plant until a buyer\nis found. The sale is aimed at improving Campbell's return on\nassets, the company said.\n Reuter\n\u0003", "date": "30-MAR-1987 14:23:38.33", "places": [ "usa" ], "id": "11004" }, { "title": "VIDEO DISPLAY <VIDE> IN INDIAN JOINT VENTURE", "body": "Video Display Corp said it\nsigned agreements with <Glowtronics <Ltd> to jointly build a\nmanufacturing plant in the state of Karnatake, India.\n Video Display said the plant, in which it will own a 40 pct\nequity interest, will make cathodes, filament heatrers and\nelectron gun assembles for television sets.\n Reuter\n\u0003", "date": "30-MAR-1987 14:28:03.38", "places": [ "usa", "india" ], "id": "11005" }, { "title": "BASS GROUP SAYS IT HAS HAD TALKS ON SEEKING CONTROL OF TAFT BROADCASTING\n", "date": "30-MAR-1987 14:28:16.03", "topics": [ "acq" ], "id": "11006" }, { "title": "LOWER REFINERY OPERATIONS SEEN PRODUCING PROFITS", "body": "U.S. refiners will have to\nreduce operations if they want to be profitable this year, said\nindustry officials attending the National Petroleum Refiners\nAssociation meeting here.\n \"If the refining sector can discipline itself to refine\nabout 12 mln barrels of crude oil a day, we have a chance to\npull down inventories to acceptable levels by the second\nquarter, said Archie Dunham, executive vice president of\npetroluem products at Conoco Inc\n \"If not, the industry will have a tough 1987,\" he added.\n Last week's American Petroleum Institute report said that\nU.S. refining capacity rose three pct to 78.7 pct of capacity,\nwith crude oil runs at 12.2 mln barrels per day for the week\nended March 20.\n The API said that with the higher crude oil runs, \ndistillate and gasoline inventories were sharply above year-ago\nlevels. Gasoline stocks were at 245.6 mln barrels, some 17.2\nmln barrels above year-ago levels. Distillate stocks, at 108.7\nmln barrels, are 10.9 mln barrels above last year's level, the\nAPI said.\n Henry Rosenberg, chairman of Crown Central Petroleum Corp\n<CNP> told Reuters that unless refining and marketing return to\nprofitability, oil companies will have to rely on downstream\noperations to produce an acceptable level of earnings.\n \"The jump in refining capacity is a concern if it\ncontinues,\" said Kenneth Buckler, executive vice president of\nrefining and marketing at <Total Petroleum Co>, a U.S.\nsubsidiary of Cie Francaise Des Petroles of France.\n Refineries should operate near 75 pct of capacity given\nthe current level of demand but the operating level should\nincrease as gasoline demand picks up in the next quarter,\nBuckler said.\n Dunham said the potential operable capacity of U.S.\nrefineries should also be cut about 500,000 barrels of crude\nper day. \"I expect to see the shutdown of more small refineries\nover the next five years,\" he said, adding that these\nfacilities refine between 10,000 and 30,000 barrels of crude\noil per day. The API said U.S. operations have the capacity to\nrefine 15.6 mln bpd of crude.\n Reuter\n\u0003", "date": "30-MAR-1987 14:29:14.28", "topics": [ "crude" ], "places": [ "usa" ], "id": "11007" }, { "title": "NYNEX <NYN> UNIT FILES 500 MLN DLR DEBT OFFERING", "body": "New York Telephone Co, a subsidiary\nof NYNEX Corp, filed with the Securities and Exchange\nCommission for a shelf offering of up to 500 mln dlrs of debt\nsecurities on terms to be determined at the time of the sale.\n Proceeds from the offering, which is in addition to 50 mln\ndlrs of debt securities already registered with the SEC but\nunsold, will be used to refinance outstanding long-term debt,\nto repay short-term debt and for other general corporate\npurposes, the company said.\n The company did not name an underwriter for the sale.\n Reuter\n\u0003", "date": "30-MAR-1987 14:29:24.83", "places": [ "usa" ], "id": "11008" }, { "title": "HALIFAX ENGINEERING <HX> GETS CONTRACTS", "body": "Halifax Engineering Inc said it\nhas received a fixed-price contract woirth 6,700,000 dlrs for\none year, plus two option years, to provide security services\nfor the U.S. Embassy in Tegucigalpa.\n The company said it has also received a three-year U.S.\nArmy contract, including two option years, for\ntelecommunications installation support. The contract is worth\na total of 7,500,000 dlrs, it said.\n Halifax said its backlog as of tomorrow, the end of its\nfiscal year, will be about 53 mln dlrs, up from 27 mln dlrs a\nyear before.\n Reuter\n\u0003", "date": "30-MAR-1987 14:29:34.81", "places": [ "usa" ], "id": "11009" }, { "title": "<ELECTROLUX AB> UNIT TO BUILD WAREHOUSE", "body": "The North Carolina Department\nof Commerce said Electrolux AB of Sweden's White Consolidated\nIndustries subsidiary will locate a new 15 mln dlr 352,000\nsquare foot national appliance parts distribution center at\nAsheville, N.C.\n It said the center will handle parts for Frigidaire,\nTappan, Kelvinator, Gibson, Vesta and White-Westinghouse\nproduct lines. Each now has a separate distribution center.\n The department said construction will start immediately and\nshould be finished in late 1987.\n Reuter\n\u0003", "date": "30-MAR-1987 14:29:58.53", "places": [ "usa", "sweden" ], "id": "11010" }, { "title": "SALOMON SA EURO-CP/CREDIT TERMS DETAILED", "body": "A seven-year credit facility for Salomon\nSA, the French ski bindings and boots maker, will have a\nfacility fee of 7.5 basis point, banking sources said.\n The financing involves a 75 mln dlr euro-commercial paper\nprogram which will be supported by a 75 mln dlr committed\nsyndicated revolving credit. Morgan Guaranty Ltd is the\narranger.\n Drawings on the revolving credit will be at a margin of 10\nbasis points over the London Interbank Offered Rate (LIBOR).\nBanks are being invited to join at 7.5 mln dlrs for 10 basis\npoints and at five mln dlrs for eight basis points.\n Reuter\n\u0003", "date": "30-MAR-1987 14:30:15.88", "places": [ "uk", "france" ], "id": "11011" }, { "title": "U.S. EXPORT INSPECTIONS, IN THOUS BUSHELS SOYBEANS 17,683 WHEAT 20,717 CORN 36,581\n", "date": "30-MAR-1987 14:32:12.01", "topics": [ "grain", "wheat", "corn", "oilseed", "soybean" ], "places": [ "usa" ], "id": "11012" }, { "title": "REGULATORS TO CONSIDER CBT EVENING SESSION", "body": "The Commodity Futures Trading\nCommission, CFTC, said that on April 15 it will consider the\nChicago Board of Trade's proposal to establish night trading.\n The Chicago exchange hopes to begin night trading at the\nend of the month. The proposed trading session -- which would\nbe the first in the United States -- would extend from 1700 to\n2100 local time (2300 to 0300 GMT).\n CFTC also said that on April 22 it will consider the\nPhiladelphia Board of Trade's application to trade futures on\nthe Australian dollar and the New York Cotton Exchange's\napplication to trade the five-year U.S. Treasury Index.\n Reuter\n\u0003", "date": "30-MAR-1987 14:32:29.52", "places": [ "usa" ], "id": "11013" }, { "title": "SONY INCREASING PRODUCTION ABROAD", "body": "Sony Corp <SNE.T> will increase production\nabroad to overcome falling profits caused by the yen's rise\nagainst the dollar, managing board chairman Akio Morita told\nthe West German newspaper Die Welt.\n He was quoted as saying that Sony, whose latest profit\nfigures had been affected strongly by dollar fluctuations,\nwould increase production in the U.S. And Europe.\n Several production facilities were being built, he added.\n\"At the same time we are also investing capital in order to\nmodernise our locations and raise our productivity.\"\n Morita said that to overcome the same currency problems,\nJapan needs to restructure its economy in order to live less\nfrom exports and more from domestic demand.\n He said U.S. And European companies had made the mistake of\nnot investing enough in the future, which was why they had lost\ntheir lead in consumer electronics.\n \"They may spend a lot of money on research and development,\"\nhe said. \"But planning and marketing are very important sectors\nin developing a marketable product.\"\n \"If they don't spend money on these, they can't build up new\nbusiness lines.\"\n Speaking of difficulties foreign firms experience in\npenetrating the Japanese market, Morita said \"Naturally, I have\nto admit that there are still many obstacles in Japan.\"\n On the other hand, many foreign firms were too interested\nin short-term success, he said.\n \"If, therefore, a company comes to Japan and wants to make a\nprofit at once on this market, it is not so simple.\"\n \"These people then complain, while the successful firms keep\ntheir mouths shut,\" Morita said.\n Reuter\n\u0003", "date": "30-MAR-1987 14:35:33.56", "places": [ "west-germany", "japan" ], "id": "11014" }, { "title": "NEWMONT MINING <NEM> PLANS 2-FOR-1 STOCK SPLIT", "body": "Newmont Mining Corp's board has\nproposed a two-for-one stock split subject to shareholder\napproval of an increase to 120 mln from 60 mln in authorized\ncommon shares, the proxy for the company's annual meeting said.\n If holdings voting at the May six meeting in Wilmington,\nDel., approve the increase in authorized shares the split will\nbe paid in the form of a stock dividend on June 10 to holders\nof record May 20, the proxy said.\n Newmont said it will also ask shareholders to approve\namendments to its certificate of incorporation limiting certain\nliabilities of its directors.\n Reuter\n\u0003", "date": "30-MAR-1987 14:36:52.17", "topics": [ "earn" ], "places": [ "usa" ], "id": "11015" }, { "title": "MEXICO FUND <MFX> TO BUY BACK TWO MLN SHARES", "body": "The Mexico Fund Inc said its board\nauthorized an offer to purchase two mln shares, or about 10.2\npct, of its common stock at 6.75 dlrs a share cash.\n The fund, at a special board meeting, said the offer is not\nconditioned on any minimum number of shares being tendered.\n The fund has issued and outstanding 19,513,200 shares of\ncommon stock, it said. As of March 26, 1987, the fund said the\nnet asset value of its shares was 8.13 dlrs.\n The fund said it intends to commence the offer by a mailing\nto its shareholders as soon as possible.\n It said it purchased shares of its stock in open market\ntransactions prior to the proposed cash tender and intends to\npurchase additional shares at prevailing market prices after\ncompletion of the offer.\n The fund's last price per share on the New York Stock\nExchange at the halt was 5-3/4.\n Reuter\n\u0003", "date": "30-MAR-1987 14:38:10.07", "places": [ "mexico" ], "id": "11016" }, { "title": "QUARTZ ENGINEERING <QRTZ> GETS SIEMENS ORDER", "body": "Quartz Engineering and Materials\nInc said it has received a 500,000 dlr order from <Siemens AG>\nof West Germany for its ATMOSCAN automated environmentally\ncontrolled semiconductor wafer processing system.\n Reuter\n\u0003", "date": "30-MAR-1987 14:42:08.80", "places": [ "usa" ], "id": "11017" }, { "title": "DENPAC CORP <DNPC> YEAR LOSS", "body": "Shr loss one ct vs loss one ct\n Net loss 483,518 vs loss 220,582\n Sales 381,841 vs 400,518\n NOTE: 1985 net includes 196,868 dlr gain from forgiveness o\naccrued interest due to affiliates.\n Reuter\n\u0003", "date": "30-MAR-1987 14:43:54.75", "topics": [ "earn" ], "places": [ "usa" ], "id": "11018" }, { "title": "<AIN LEASING CORP> 3RD QTR JAN 31 LOSS", "body": "Shr loss six cts vs profit 22 cts\n Net loss 133,119 vs profit 496,391\n Revs 136,918 vs 737,917\n Nine mths\n Shr loss 21 cts vs profit 15 cts\n Net loss 478,991 vs profit 340,210\n Revs 324,011 vs 841,908\n Reuter\n\u0003", "date": "30-MAR-1987 14:44:06.64", "topics": [ "earn" ], "places": [ "usa" ], "id": "11019" }, { "title": "WARNER-LAMBERT <WLA> WINS PACKAGING SUIT", "body": "Warner-Lambert Co said a\nfederal court judgment resulted in <My-K Laboratories Inc>\nagreeing to discontinue the sale of cough syrup and a\nchildren's allergy elixir because it imitates Warner-Lambert \npackaging.\n Warner-Lambert said the final consent judgment was entered\nin the U.S. District Court of the Northern District of\nIllinois. It also said the packaging in question imitated its\nown packaging of Benylin and Benadryl products.\n My-K agreed to adopt different packaging, Warner-Lambert\nsaid.\n Reuter\n\u0003", "date": "30-MAR-1987 14:47:20.29", "places": [ "usa" ], "id": "11020" }, { "title": "HARTMARX <HMX> UNIT PRESIDENT RESIGNS", "body": "Hartmarx Corp said Geoffrey Bloom\nresigned as president and chief executive officer of its\nJaymar-Ruby Inc subsidiary to accept the position of president\nand chief operating officer of Wolverine World Wide Inc <WWW>.\n It said Elbert Hand, president and chief operating officer\nof Hartmarx, and president and chief executive officer of the\nHartmarx Men's Apparel Group, was named chief executive officer\nof Jaymar-Ruby Inc. Burton Ruby, son of the Jaymar-Ruby\nfounder, remains as chairman.\n \n Reuter\n\u0003", "date": "30-MAR-1987 14:47:40.85", "places": [ "usa" ], "id": "11021" }, { "title": "SENATE BILL WOULD ALLOW FARM LOAN WRITE-DOWNS", "body": "The U.S. Senate has approved a\nmeasure that would allow an estimated 4,200 agricultural banks\nto write off loan losses over ten years.\n The measure, offered by Sen. Alan Dixon (D-Ill.), was\nattached to a bill to recapitalize the Federal Savings and Loan\nInsurance Corp that the Senate approved March 27.\n Dixon's amendment would permit agricultural banks -- banks\nwith assets of 100 mln dlrs or less and at least 25 pct of\ntotal loans in farm loans -- to write down over ten years\nagricultural loan losses incurred between 1984 and 1992.\n Reuter\n\u0003", "date": "30-MAR-1987 14:48:20.82", "places": [ "usa" ], "id": "11022" }, { "title": "U.S. SENATE BUDGET CHIEF EYES FARM POLICY CHANGE", "body": "U.S. Senate Budget Committee\nChairman Lawton Chiles' (D-Fla.) fiscal 1988 budget plan would\ncut farm spending by about two billion dlrs, primarily by\nmaking unspecified changes in price and income support\nprograms, Senate staff members said.\n Chiles presented his budget blueprint late last week and\nsaid he would like to begin voting on it this week.\n Senate Republican staff members said Chiles was\nrecommending that policy changes be adopted for 1988 crops.\n While savings from the changes would accrue mainly in\nfiscal 1989, Chiles said his income and price support proposals\nwould trim about two billion dlrs from advance deficiency\npayments, most of which would be made in the spring of next\nyear.\n It was not clear how the Senate Budget panel head would\nachieve the savings in Commodity Credit Corp outlays. Aides to\nChiles would not comment on how the CCC savings would be made.\n Recently the Congressional Budget Office released a report\nlisting possible price and income support program savings.\n The options included lowering target prices, increasing\nunpaid acreage reduction programs, targeting income support\npayments to specific groups of producers, limiting the use of\ngeneric commodity certificates, raising loan rates and\n\"decoupling\" income support payments from production decisions.\n Chiles proposed saving about 100 mln dlrs by freezing the\nU.S. Agriculture Department's discretionary spending functions\nwhich include research and credit programs, Senate staff said.\n The Florida senator's plan also would provide 30 mln dlrs\nfor organic farming research and 20 mln dlrs for homeless aid.\n Reuter\n\u0003", "date": "30-MAR-1987 14:49:29.53", "places": [ "usa" ], "id": "11023" }, { "title": "NEWMONT MINING <NEM> SEEKS SOUTH AFRICAN SALE", "body": "Newmont Mining Corp will seek\nfavorable terms for sale of its South African investments, the\nproxy statement for its annual meeting said.\n Recommending that shareholders vote against a proposal\ncalling expeditious withdrawal from South Africa, the proxy\nsaid \"a quick sale could be akin to abandonment\" because of the\ndepressed state of metal mining stocks and exchange rates on\ncapital withdrawals from South Africa.\n The proxy said the company gave close consideration to\nalternatives to the continued holdings of four existing South\nAfrican metal mining investments during the past year.\n Pointing out \"a measurable number of investors incline to\nsupport\" resolutions calling for South African divestment as\npart of their effort to avoid pressure to sell a given stock,\nthe company said \"this largely unspoken agenda of many\nsupporters of disinvestment does receive attention by the\ncorporation.\"\n Because of this, Newmont Mining said it \"is prepared to\nconsider, and will seek, favorable terms for sale of its South\nAfrican investments,\" but asked stockholders to reject the\nresolution calling for withdrawal and leave the matter to the\ncontinuing judgment of management.\n Reuter\n\u0003", "date": "30-MAR-1987 14:54:12.48", "places": [ "usa", "south-africa" ], "id": "11024" }, { "title": "VENEZUELA WANTS TO BOOST ITS REFINING CAPACITY", "body": "Venezuela's state oil\ncompany Petroleos de Venezuela S.A. wants to raise its\nworldwide refining capacity by 150,000 barrels of per day, a\ncompany official attending the National Petroleum Refiners\nAssociation meeting here said.\n He declined to be identified but said PdVSA has the\ncapacity to refine about 650,000 bpd of crude oil from refining\ncenters\nin Venezuela, Sweden, West Germany, Belgium, and the United\nStates. The company recently purchased a 50 pct stake in the\nCorpus Christi, Texas refinery of Champlin Petroleum Co, a\nsubsidiary of Union Pacific Corp <UNP>.\n Earlier it bought a similar stake in the Lake Charles, La\nrefinery owned by Citgo Petroleum Corp, a unit of Southland\nCorp <SLC>.\n According to the official, Venezuela is searching\nworldwide for the additional refining capacity but he did not\nmention where the company was looking. \n Refineries abroad, he said, guarantee a refining outlet for\nVenezuelan crude oil while ensuring stability of supply to\nrefiners.\n He said Venezuela currently produces about 1.4 mln bpd of\ncrude oil, which is in line with its 1.495 bpd OPEC ceiling.\n Reuter\n\u0003", "date": "30-MAR-1987 15:00:51.14", "topics": [ "crude" ], "places": [ "venezuela" ], "id": "11025" }, { "title": "AUDI OFFERS CASH INCENTIVE TO CURRENT OWNERS", "body": "Audi of America Inc said it\nintroduced the \"Audi Private Purchase Plan\" in which it will\noffer 5,000 dlr purchase certificates exclusively to current\nowners of 1984-86 Audi 5000 vehicles.\n It said owners must apply the certificates toward purchase\nor lease of any new 1987 Audi 5000 series vehicle.\n The program will run between April 1 and June 30, and more\nthan 150,000 certificates will be mailed.\n A company spokesman said eligible owners need not trade in\ntheir old cars to take advantage of the offer.\n He also said the scheme was not prompted by the fact that\nAudi had to recall thousands of its cars earlier this year to\ncorrect a possible defect that caused some of the cars to\naccelerate suddenly.\n Reuter\n\u0003", "date": "30-MAR-1987 15:02:17.84", "places": [ "usa" ], "id": "11026" }, { "title": "PRIMEBANK <PMBK> SETS 10 PCT STOCK DIVIDEND", "body": "PrimeBank Federal Savings\nBank said its board declared a 10 pct stock dividend to be\ndistributed about April 15 to holders or record March 31.\n Reuter\n\u0003", "date": "30-MAR-1987 15:05:58.06", "topics": [ "earn" ], "places": [ "usa" ], "id": "11027" }, { "title": "AMERICAN LOCKER GROUP INC <ALGI> 4TH QTR NET", "body": "Shr profit 23 cts vs loss six cts\n Net profit 319,564 vs loss 84,203\n Sales 6,419,230 vs 5,583,560\n Year\n Shr profit 1.11 dlrs vs profit 43 cts\n Net profit 1,582,125 vs profit 654,083\n Sales 26.2 mln vs 22.6 mln\n NOTE: Full year 1985 includes gains of two cts per share\nfrom discontinued operations and four cts per share from\ndisposal of assets.\n Reuter\n\u0003", "date": "30-MAR-1987 15:06:30.04", "topics": [ "earn" ], "places": [ "usa" ], "id": "11028" }, { "title": "BASS GROUP SAYS IT HAS HAD TALKS ON TAFT <TFB>", "body": "A group led by members of the\nwealthy Bass family of Fort Worth, Texas, which holds a 24.9\npct stake in Taft Broadcasting Co, said it has had talks about\ntaking part in a move to take control of the company.\n In a filing with the Securities and Exchange Commission,\nthe group said it has had discussions with other Taft\nstockholders and some company managers and directors\n\"concerning participation in a group to acquire control\" of the\ncompany.\n The Bass group, which did not identify any of the other\npeople with whom it said it has had talks, said it plans to\ncontinue evaluating Taft and \"will be involved in further\ndiscussions relating to the future control and direction\" of\nthe company.\n The group, which holds 2,291,210 Taft common shares, said\nits members may buy more shares of Taft common stock, or may\ndecide to sell some or all of its stake.\n On Friday Taft said it would negotiate with a group led by\nits vice chairman, Dudley Taft, and a Rhode Island investment\nfirm, which had offered 150 dlrs a share for the company.\n The Dudley Taft group, Theta Corp, which also includes\nNarragansett Capital Corp, a Providence, R.I., investment firm,\nis seeking to take the company private in a leveraged buyout\nvalued at 1.38 billion dlrs.\n Besides the Bass group, another major Taft shareholder,\nCincinnati, Ohio, financier Carl Lindner, has also said he has\nhad talks about increasing his stake in the company, taking\npart in a takeover effort, or launching one himself.\n Lindner controls 1,489,298 shares of Taft common stock, or\n16.2 pct of the total.\n Reuter\n\u0003", "date": "30-MAR-1987 15:15:20.33", "topics": [ "acq" ], "places": [ "usa" ], "id": "11029" }, { "title": "U.S. STEEL PRODUCTION ROSE 1.3 PCT IN WEEK", "body": "Steel production rose\n1.3 pct to 1,696,000 short tons in the\nweek ended March 28 from 1,675,000 short\ntons, the American Iron and Steel Institute\nreported\n Production so far this year was 18,810,000 tons adjusted off\n14.6 pct from 22,016,000 tons\nproduced by the nations mills a year ago.\n Utilization for the week of March 28 was 78.7 pct and for\nthe week of March 21 was was 77.8 pct. \n Reuter\n\u0003", "date": "30-MAR-1987 15:16:34.99", "topics": [ "iron-steel" ], "places": [ "usa" ], "id": "11030" }, { "title": "NORTH AMERICAN GROUP <NAMG> 4TH QTR OPER LOSS", "body": "Oper shr loss 12 cts vs loss 10 cts\n Oper net loss 474,270 vs loss 369,848\n Revs 202,500 vs 111,210\n Avg shrs 3,904,373 vs 3,495,579\n Year\n Oper shr loss 28 cts vs loss 46 cts\n Oper net loss 1,069,550 vs loss 893,612\n Revs 408,031 vs 438,933\n Avg shrs 3,785,607 vs 1,944,627\n NOTE: Full name is North American Group Ltd\n Earnings exclude losses on reorganization expenses of\n33,453 dlrs, or one ct a share vs 59,520 dlrs, or two cts a sh\nare in the quarter and losses of 237,859 dlrs, or six cts a\nshare vs 413,444 dlrs, or 21 cts a share for the year\n Earnings exclude gains on discontinued operations of\n147,671, or four cts a share in the 1985 quarter and gains of\n760,603 dlrs, or 20 cts a share vs 520,200 dlrs, or 27 cts a\nshare for the year\n Reuter\n\u0003", "date": "30-MAR-1987 15:17:57.62", "topics": [ "earn" ], "places": [ "usa" ], "id": "11031" }, { "title": "PAY 'N PAK <PNP> TO EXPLORE ITS ALTERNATIVES", "body": "Pay 'N Pak Stores Inc said it\nintends to explore all alternatives for the purpose of\nmaximizing its value to stockholders.\n The company said it also retained Salomon Brothers Inc as\nits financial advisor to assist it in this regard.\n Last week investor Paul Bilzerian reported that he holds a\n7.2 pct stake in Pay 'N Pak and is considering seeking control\nof the retail building materials firm.\n In a filing with the Securities and Exchange Commission\nBilzerian said he and a Tampa, Fla., investment firm he\ncontrols called Bicoastal Financial Corp, may acquire\nadditional Pay 'N Pak shares, or they may seek to acquire one\nor more positions on the company's board.\n He also said in the filing that he may attempt to obtain a\ncontrolling interest through a tender offer or otherwise.\n Reuter\n\u0003", "date": "30-MAR-1987 15:18:39.33", "places": [ "usa" ], "id": "11032" }, { "title": "SOCIETY FOR SAVINGS <SOCS> TO OFFER NOTES", "body": "Society for Savings said it will offer\nup to 100 mln dlrs of medium-term notes with maturites of one\nto five years through Goldman, Sachs and Co and Shearson Lehman\nBrothers Inc.\n The notes will be supported by an irrevocable letter of\ncredit by the Federal Home Loan Bank of Boston. Each note will\nbear interest at a fixed-rate or variable rate formula\nestablished at the time of issuance, Society for Savings said.\n Bankers Trust Co will act as fiscal and paying agent.\nNon-redeemable to maturity, the notes will be issued only in\nregistered form and in minimum denomiations of 100,000 dlrs.\n Reuter\n\u0003", "date": "30-MAR-1987 15:20:25.66", "places": [ "usa" ], "id": "11033" }, { "title": "<OXOCO INC> YEAR LOSS", "body": "Oper shr loss 6.68 dlrs vs loss 9.95 dlrs\n Oper net loss 53.9 mln vs loss 69.8 mln\n Revs 16.5 mln vs 33.2 mln\n Avg shrs 8,329,492 vs 7,271,668\n NOTE: 1986 excludes loss 12.9 mln for discontinued\ncompressor operations vs loss 14.9 mln year prior.\n 1986 excludes gain of 98.7 mln for extinguishment of debt\nfrom company's chapter 11 filing and subsequent reorganization.\n Reuter\n\u0003", "date": "30-MAR-1987 15:20:32.84", "topics": [ "earn" ], "places": [ "usa" ], "id": "11034" }, { "title": "TEECO PROPERTIES L.P. OPER INCOME DOWN", "body": "<Teeco Properties L.P.> said the\npartnership recorded income from operations for 1986 of 140,000\ndlrs, or two cts a unit.\n The partnerhsip said this compared to 1985 figures of\n660,000 dlrs, or 10 cts a unit.\n Results of operations between both years is not comparable\nsince the partnership's principle objective is to sell or\ndispose of its assets and distribute proceeds to unit holders,\naccording to the partnership.\n It said the number of units outstanding for both years is\n6,479,516.\n\n Reuter\n\u0003", "date": "30-MAR-1987 15:20:48.00", "topics": [ "earn" ], "places": [ "usa" ], "id": "11035" }, { "title": "BROUGHER INSURANCE GROUP INC<BIGI> 4TH QTR LOSS", "body": "Shr loss nine cts vs profit 20 cts\n Net loss 257,157 vs profit 414,890\n Year\n Shr profit 54 cts vs profit 1.05 dlrs\n Net profit 1,295,104 vs profit 2,140,673\n Reuter\n\u0003", "date": "30-MAR-1987 15:20:52.65", "topics": [ "earn" ], "places": [ "usa" ], "id": "11036" }, { "title": "HIGH COURT DECLINES TO REVIEW AIR BAG RULE", "body": "The Supreme Court declined to review\na federal regulation requiring automobile manufacturers to\nphase in automatic seat belts or air bags for new cars sold in\nthe United States.\n The Department of Transportation (DOT) rule required that\nthe safety devices be installed, for the first time, on 10 pct\nof this year's model cars. All new cars must have the devices\nby the 1990-model year.\n The regulation, however, can be rescinded if states with\ntwo-thirds of the U.S. population adopt mandatory seat belt-use\nlaws by 1989.\n Reuter\n\u0003", "date": "30-MAR-1987 15:22:33.92", "places": [ "usa" ], "id": "11037" }, { "title": "TRADE BODY SETS NEW RULES FOR EURODLR MANAGERS", "body": "The International Primary Market Makers\nAssociation, a trade organisation, said its board last week\nadopted new rules recommending lead managers of eurodollar bond\nissues make a market in that security for 12 months.\n Currently, while there is an implied obligation on the part\nof firms to make markets in issues they underwrite, there is no\nformal obligation to do so.\n Christopher Sibson, secretary general of IPMA, in\nexplaining why the recommendation was adopted, said \"It is aimed\nat the problem of the lead manager who does a deal and\ndisappears.\"\n Sibson said the organization cannot force its members to\nadhere to the rule. \"We're under no illusions about the legal\nbinding force of these recommendations,\" he said.\n Lead managers have occasionally abandoned efforts to\nsupport an unprofitable issue just a short while after it has\nbeen offered, leaving investors and smaller firms with no one\nto buy it back from them.\n Most recently, when prices of perpetual floating rates\nnotes (FRNs) suddenly plunged, most market makers abandoned the\nsecurities altogether, leaving investors stuck with about 17\nbillion dlrs worth of unmarketable securities on their books.\n Sibson noted that the recommendation adopted by the board\nonly applies to fixed-rate dollar issues and would not have\nhelped the floating rate sector out of its current crisis.\n Among other measures, the IPMA also decided that the\ncriteria for membership should be tightened to exclude some of\nthe smaller firms.\n Under the new rules, a firm must be the book running lead\nmanager during the two preceding years of 12 internationally\ndistributed debt issues denominated in U.S. Dlrs or in one of\neight other major currencies.\n The former requirement called for three lead-managed\nissues. Sibson said he expects the tighter entrance\nrequirements to pare 3he current list of 67 members down by six\nto 10 members.\n Smaller firms have criticized IPMA's efforts to restrict\nmembership to the larger firms, saying it is anti-competitive\nand that it reinforces the big firms' already large market\nshare.\n \"Belonging to IPMA carries a certain amount of prestige with\nborrowers,\" said a dealer at a small foreign bank. \"The borrower\nsays to himself, \"Well I can travel economy or I can travel\nfirst class,'\" he said.\n Reuter\n\u0003", "date": "30-MAR-1987 15:24:34.95", "places": [ "uk" ], "id": "11038" }, { "title": "CSC INDUSTRIES UNIT TO INCREASE PRICES", "body": "Copperweld Steel Co <CPSL>, a\nsubsidiary of CSC Industries Inc., said it will increase from\nmarket price levels its bar, semi-finished and leaded products\neffective July One.\n Hot rolled and cold finished bar wil be increase 25 dlrs\nper net ton, while semi-finished products will be increased 15\ndlrs per net ton, the company said.\n Anticipated higher energy and raw material costs, combined\nwith current market trends, were cited by the company as\nreasons for the increases.\n Reuter\n\u0003", "date": "30-MAR-1987 15:26:11.53", "topics": [ "iron-steel" ], "places": [ "usa" ], "id": "11039" }, { "title": "USDA TO UPDATE WINTER WHEAT ACREAGE TOMORROW", "body": "The U.S. Agriculture Department said\nit will update its estimate of winter wheat seeded acreage in\nthe prospective planting report, scheduled for release at 1500\nest (2100 gmt) tomorrow, March 31.\n The original estimate of seedings of winter wheat was\npublished in January.\n It said the new survey is possible because of the new\nintegrated nationwide survey program that uses probability\nsampling procedures that combine information from farmers\noperating in selected areas and farmers identified on special\nlists.\n Reuter\n\u0003", "date": "30-MAR-1987 15:26:25.70", "topics": [ "grain", "wheat" ], "places": [ "usa" ], "id": "11040" }, { "title": "SANTA FE <SFX> AWARE OF HENLEY <HENG> STAKE", "body": "Santa Fe Southern Pacific Corp said it\nhas discussed with Henley Group that company's almost five pct\nstake and was told the holdings are for investment purposes.\n \"We have confirmed with the Henley Group that they own\napproximately 7.9 mln shares of Santa Fe Southern Pacific\ncommon stock. They have informed me that they like our company\nand purchased the stock last year for investment purposes,\"\nSanta Fe chairman John Schmidt said in a statement.\n Henley late Friday filed a 10-K report with the Securities\nand Exchange Commission concerning the Santa Fe stake.\n Earlier Santa Fe's stock was up 4-7/8 to 41 before slipping\nto be up 1-7/8 at 38.\n Reuter\n\u0003", "date": "30-MAR-1987 15:27:02.85", "topics": [ "acq" ], "places": [ "usa" ], "id": "11041" }, { "title": "OXOCO CONCLUDES PRIVATE SALE OF NEW COMMON", "body": "Oxoco Inc said it concluded the private\nplacement of 3,906,250 shares of its new common stock at an\naverage purchase price of 1.28 dlrs per share for a cash\npayment of five mln dlrs.\n Oxoco said the sale was to a group of venture capital\ninvestors led by Hambrecht and Quist of San Francisco.\n It said the venture capitalists now own 71.6 pct of the\noutstanding stock of the company.\n In addition, Andrew Loomis and Michael McGovern were\nelected chairman and co-chairman, respectively, of the company,\nit said.\n Reuter\n\u0003", "date": "30-MAR-1987 15:29:30.70", "places": [ "usa" ], "id": "11042" }, { "title": "U.S. SUGAR IMPORTS DOWN IN LATEST WEEK - USDA", "body": "Sugar imports subject to the U.S.\nsugar import quota during the week ended March 6 totaled 25,192\nshort tons versus 29,043 tons the previous week, the\nAgriculture Department said.\n Cumulative imports now total 130,804 tons, it said.\n The sugar import quota for the 1987 quota year\n(January-December) has been set at 1,001,430 short tons\ncompared with 1,850,000 tons in the 1986 quota year, which was\nextended three months to December 31.\n The department said the Customs Service reported that\nweekly and cumulative imports are reported on an actual weight\nbasis and when final polarizations are received, cumulative\nimport data are adjusted accordingly.\n Reuter\n\u0003", "date": "30-MAR-1987 15:29:47.66", "topics": [ "sugar" ], "places": [ "usa" ], "id": "11043" }, { "title": "TRANSAMERICAN FILES AMENDED REORGANIZATION PLAN", "body": "TransAmerican Natural Gas Corp, which\nhas been operating under Chapter 11 bankruptcy protection since\nJanuary 1983, said it filed an amended and restated negotiated\nplan of reorganization.\n A hearing on the adequacy of the disclosure statement is\nscheduled for April 29 in the U.S. Bankruptcy Court for the\nSouthern District of Texas.\n Basic terms of the amended and restated negotiated plan\nhave not changed from the original plan filed last October, the\ncompany said.\n The amended filing reflects adding ancillary documents to\nthe plan filed in October, it said.\n Assuming the plan is found adequate on April 29,\nTransAmerican would then seek acceptance from creditors which\nis relatively assured since they participated in the\nnegotiations, the company said.\n Liabilities in excess of one billion dlrs are being\nreorganized under the amended plan which provides for full\ndebt-repayment to secured bank lenders.\n Unsecured creditors would receive either 100 pct repayment,\nsecured by liens on assets, or one-time lump sum payments of 25\nto 35 cts on the dollar, in cash, shortly after confirmation of\nthe plan by the court.\n TransAmerican is vigorously resisting efforts by Coastal\nCorp <CGP> to acquire its assets through a subsequent plan of\nliquidation.\n The spokesman said the company is confident its plan will\nbe confirmed and is optimistic that it will emerge from Chapter\n11 as early ninety days after the April 29 confirmation.\n A Coastal spokesman said it will file a plan in April with\nthe court and will request the court to review its plan.\n On March 17, the company said that as a creditor, which is\nowed 625,000 dlrs, it has a right to file its own plan which\nwill better serve the other creditors in a shorter time.\n A TransAmerican spokesman said the net worth of Coastal's\noffer is less than 25 pct of the fair market value of\nTransamerican's assets which are in excess of one billion dlrs.\n \n Reuter\n\u0003", "date": "30-MAR-1987 15:39:21.47", "places": [ "usa" ], "id": "11044" }, { "title": "TEXTRON <TXT> TO REPAY DEBT THROUGH ASSET SALES", "body": "Texton Inc said it intends to\nrepay a substantial portion of the debt generated to acquire\nEx-Cell-O Corp last year through internally generated cash and\nproceeds from the sale of assets.\n Textron financed the acquisition by borrowing about one\nbillion dlrs under promissory notes, subsequently refinanced\nthrough the sale of commercial paper and bank borrowings.\n The large diversified conglomerate with operations ranging\nfrom defense to consumer and financial services, said in its\nannual report that it has not yet identified the units, other\nthan its Gorham division, it expects to sell.\n Textron said it did expect to identify the units it intends\nto sell during the next year. It said the sales are expected to\nreduce income from continuing operations as the units' earnings\nwill exceed the interest on the debt retired with the proceeds\nof the sales.\n It also said it plans to \"return to a more conservative\nbalance sheet ratio of debt-to-capital,\" through asset sales\nand increasing cash flow from continuing operations.\n It also said it will continue to examine \"large acquisition\nopportunities,\" while \"pruning\" operations no longer expected\nto meet its strategic requirements.\n Reuter\n\u0003", "date": "30-MAR-1987 15:44:23.25", "places": [ "usa" ], "id": "11045" }, { "title": "TEMPLETON ENERGY INC <TMPL> 4TH QTR NET", "body": "Shr profit four cts vs loss six cts\n Net profit 967,000 vs loss 1,219,000\n Revs 10.1 mln vs 4.5 mln\n Year\n Shr profit three cts vs loss five cts\n Net profit 688,000 vs 982,000\n Revs 24.6 mln vs 16.3 mln\n NOTE: 1986 includes results of Louisiana Energy and\nDevelopment Corp acquired in November 1986.\n Reuter\n\u0003", "date": "30-MAR-1987 15:51:12.26", "topics": [ "earn" ], "places": [ "usa" ], "id": "11046" }, { "title": "AEL INDUSTRIES <AELNA> 4TH QTR FEB 27 NET", "body": "Shr 66 cts vs 33 cts\n Net 2,955,000 vs 1,563,000\n Revs 26.1 mln vs 23.9 mln\n 12 mths\n Shr 74 cts vs 1.01 dlrs\n Net 3,321,000 vs 4,739,000\n Revs 108.4 mln vs 104.9 mln\n NOTE: year 1987 includes charge of 818,000 dlrs, or 18 cts\nper share, for sale of Elisra Electronic Systems Ltd.\n Reuter\n\u0003", "date": "30-MAR-1987 15:52:04.99", "topics": [ "earn" ], "places": [ "usa" ], "id": "11047" }, { "title": "AMOSKEAG <AMKG> TAKEOVER BLOCKED BY COURT", "body": "Amoskeag Bank Shares Inc said\nthe New Hampshire Supreme Court overturned its proposed\nacquisition of Portsmouth Savings Bank in a three-two vote.\n The acquisition had been opposed by some depositors, who\nfiled an action to block the takeover.\n \"We will respond to this news as soon as we have had an\nopportunity to analyze the decision, and any and all options\navailable to us,\" chairman William Bushnell said in a\nstatement.\n Reuter\n\u0003", "date": "30-MAR-1987 15:54:36.57", "topics": [ "acq" ], "places": [ "usa" ], "id": "11048" }, { "title": "METROMAIL <MTMA> PREDICTS FLAT EARNINGS", "body": "Metromail Corp said it expects\nflat operating profits for its 1987 fiscal year ending May 31\nwith last fiscal year's earnings from operations of 9,943,000\ndlrs, or 1.05 dlrs a share.\n The company said the flat results will be due to higher\nthan normal expenditures during the fourth quarter for\nexpansion of its data processing capabilities.\n Earlier, Metromail reported fiscal 1987 third quarter\nearnings of 2.4 mln dlrs, or 25 cts a share, versus three mln\ndlrs, or 32 cts a share, the prior third quarter, and nine\nmonths net of 7.2 mln dlrs, or 76 cts a share, versus 7.8 mln\ndlrs, or 82 cts a share the prior nine months.\n Reuter\n\u0003", "date": "30-MAR-1987 15:55:50.23", "topics": [ "earn" ], "places": [ "usa" ], "id": "11049" }, { "title": "APPLE <AAPL> EXPANDS NETWORK CAPABILITIES", "body": "Apple Computer Inc said it\nhas extended the ability of the Apple MacIntosh personal\ncomputer family to commmunicate over <Northern Telecom Ltd's>\nMeridian SL-1 integrated services network.\n The new capabilities include linking separate AppleTalk\nnetworks, dial-up remote use of LaserWriter printers, one step\nfile transfer and conversion and Memorybank 485, a new 485\nmegabyte storage subsystem for use with MacIntosh personal\ncomputers, Apple said.\n Reuter\n\u0003", "date": "30-MAR-1987 15:56:28.52", "places": [ "usa" ], "id": "11050" }, { "title": "BALL <BLL> ENDS TALKS WITH MONSANTO <MTC>", "body": "Ball Corp said it was unable to\ncomplete negotiations to acquire the plastic container business\nof Monsanto Co.\n It said the two companies had entered into exclusive\nnegotiations last October.\n Neither company provided details on why the talks were\nterminated.\n Reuter\n\u0003", "date": "30-MAR-1987 15:58:33.75", "topics": [ "acq" ], "places": [ "usa" ], "id": "11051" }, { "title": "JAPAN BUYS CANADIAN RAPESEED", "body": "Japanese crushers bought 2,000 tonnes\nof Canadian rapeseed in export business overnight for May\nshipment, trade sources said.\n Reuter\n\u0003", "date": "30-MAR-1987 15:58:44.17", "topics": [ "oilseed", "rapeseed" ], "places": [ "japan", "canada" ], "id": "11052" }, { "title": "NEWMONT MINING <NEM> SETS HIGHER SPENDING IN 1987", "body": "Newmont Mining Corp estimates its 1987\ncapital spending at 137 mln dlrs, its annual report said.\n A company spokesman said this figure excludes <Magma Copper\nCo> and compares to spending of about 80 mln dlrs in 1986\nexcluding the 45 mln dlrs spent on Magma operations. As\npreviously announced, Newmont is distributing 80 pct of Magma's\nstock to its shareholders in the form of a dividend.\n The report also said Newmont Mining increased its ownership\nof Du Pont Co <DD> stock during 1986 to 5,970,141 shares at\nyear end from 5,250,376 shares a year earlier.\n Newmont's annual report said the company held 2.5 pct of Du\nPont's stock at the end of 1986, up from 2.2 pct a year\nearlier.\n The report also said Newmont's proven oil reserves declined\nto 7,970,000 barrels at the end of 1986 from 8,530,000 barrels\na year earlier and its natural gas reserves declined to 271.48\nbillion cubic feet from 274.82 billion at the end of 1985.\n Reuter\n\u0003", "date": "30-MAR-1987 15:59:18.08", "places": [ "usa" ], "id": "11053" }, { "title": "3COM CORP <COMS> INTRODUCES NEW WORKSTATION", "body": "3Com Corp said it\nintroduced a new network workstation for business applications.\n The product, called 3Station, is the first in a family of\nnetwork workstations, which will later include a Token Ring\nversion, the company said.\n It said the 3Station is an IBM-compatible 80286-based\nEthernet product which can be integrated with personal\ncomputers on a network.\n The company also said it plans to begin shipments on May\n15.\n Reuter\n\u0003", "date": "30-MAR-1987 15:59:24.50", "places": [ "usa" ], "id": "11054" }, { "title": "S/P AFFIRMS BANNER <BNR>, LOWERS REXNORD <REX>", "body": "Standard and Poor's Corp said it\naffirmed Banner Industries Inc's 135 mln dlrs of B-minus\nsubordinated debt following its purchase of Rexnord Inc. \n Rexnord's 50 mln dlrs of 12-3/4 pct debentures of 1994 were\ncut to B from A-minus to reflect the merger with Banner.\n While increasing Banner's size and diversity, S and P said\nthe transaction heightens financial risk, with debt to capital\nrising to more than 90 pct.\n Near-term earnings and cash flow protection will weaken\nfrom the acquisition, though Banner's plans to sell some\nRexnord assets will reduce debt for the medium term.\n Reuter\n\u0003", "date": "30-MAR-1987 16:00:03.76", "places": [ "usa" ], "id": "11055" }, { "title": "REEF ENERGY <RFEN> ENTERS PIPELINE AGREEMENT", "body": "Reef Energy Corp said its\nboard entered into agreements with Penteco Corp, a private\nTulsa-based company, to buy a 12-pct interest in the general\npartnership of Penteco East Central Pipeline and a 10-pct\ninterest in Lincoln Gas and Marketing Corp.\n Penteco East is a gas gathering and transmission system in\nsouthern Kansas and northern Oklahoma.\n It said Penteco in turn has purchased one mln shares of\nReef common and taken options for the purchase of another two\nmln shares over the next 36 months.\n Reuter\n\u0003", "date": "30-MAR-1987 16:00:28.68", "topics": [ "acq" ], "places": [ "usa" ], "id": "11056" }, { "title": "AMERON INC <AMN> QTLY DIVIDEND", "body": "Shr 24 cts vs 24 cts prior qtr\n Pay May 15\n Record April 24\n \n Reuter\n\u0003", "date": "30-MAR-1987 16:00:33.29", "topics": [ "earn" ], "places": [ "usa" ], "id": "11057" }, { "title": "JOHNSON ELECTRONICS INC <JHSN> 4TH QTR LOSS", "body": "Shr loss three cts vs profit eight cts\n Net loss 35,000 vs profit 128,000\n Revs 1,133,000 vs 1,528,000\n Year\n Shr profit four cts vs profit 21 cts\n Net profit 72,000 vs profit 339,000\n Revs 4,837,000 vs 4,500,000\n NOTE: 1985 net income included an after tax gain of 195,000\nor 12 cts per share on sale of real property.\n Reuter\n\u0003", "date": "30-MAR-1987 16:00:39.33", "topics": [ "earn" ], "places"