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'ASIAN EXPORTERS FEAR DAMAGE FROM U.S.-JAPAN RIFT Mounting trade friction between the\nU.S. And Japan has raised fears among many of Asia\'s exporting\nnations that the row could inflict far-reaching economic\ndamage, businessmen and officials said.\n    They told Reuter correspondents in Asian capitals a U.S.\nMove against Japan might boost protectionist sentiment in the\nU.S. And lead to curbs on American imports of their products.\n    But some exporters said that while the conflict would hurt\nthem in the long-run, in the short-term Tokyo\'s loss might be\ntheir gain.\n    The U.S. Has said it will impose 300 mln dlrs of tariffs on\nimports of Japanese electronics goods on April 17, in\nretaliation for Japan\'s alleged failure to stick to a pact not\nto sell semiconductors on world markets at below cost.\n    Unofficial Japanese estimates put the impact of the tariffs\nat 10 billion dlrs and spokesmen for major electronics firms\nsaid they would virtually halt exports of products hit by the\nnew taxes.\n    \"We wouldn\'t be able to do business,\" said a spokesman for\nleading Japanese electronics firm Matsushita Electric\nIndustrial Co Ltd &lt;MC.T>.\n    \"If the tariffs remain in place for any length of time\nbeyond a few months it will mean the complete erosion of\nexports (of goods subject to tariffs) to the U.S.,\" said Tom\nMurtha, a stock analyst at the Tokyo office of broker &lt;James\nCapel and Co>.\n    In Taiwan, businessmen and officials are also worried.\n    \"We are aware of the seriousness of the U.S. Threat against\nJapan because it serves as a warning to us,\" said a senior\nTaiwanese trade official who asked not to be named.\n    Taiwan had a trade trade surplus of 15.6 billion dlrs last\nyear, 95 pct of it with the U.S.\n    The surplus helped swell Taiwan\'s foreign exchange reserves\nto 53 billion dlrs, among the world\'s largest.\n    \"We must quickly open our markets, remove trade barriers and\ncut import tariffs to allow imports of U.S. Products, if we\nwant to defuse problems from possible U.S. Retaliation,\" said\nPaul Sheen, chairman of textile exporters &lt;Taiwan Safe Group>.\n    A senior official of South Korea\'s trade promotion\nassociation said the trade dispute between the U.S. And Japan\nmight also lead to pressure on South Korea, whose chief exports\nare similar to those of Japan.\n    Last year South Korea had a trade surplus of 7.1 billion\ndlrs with the U.S., Up from 4.9 billion dlrs in 1985.\n    In Malaysia, trade officers and businessmen said tough\ncurbs against Japan might allow hard-hit producers of\nsemiconductors in third countries to expand their sales to the\nU.S.\n    In Hong Kong, where newspapers have alleged Japan has been\nselling below-cost semiconductors, some electronics\nmanufacturers share that view. But other businessmen said such\na short-term commercial advantage would be outweighed by\nfurther U.S. Pressure to block imports.\n    \"That is a very short-term view,\" said Lawrence Mills,\ndirector-general of the Federation of Hong Kong Industry.\n    \"If the whole purpose is to prevent imports, one day it will\nbe extended to other sources. Much more serious for Hong Kong\nis the disadvantage of action restraining trade,\" he said.\n    The U.S. Last year was Hong Kong\'s biggest export market,\naccounting for over 30 pct of domestically produced exports.\n    The Australian government is awaiting the outcome of trade\ntalks between the U.S. And Japan with interest and concern,\nIndustry Minister John Button said in Canberra last Friday.\n    \"This kind of deterioration in trade relations between two\ncountries which are major trading partners of ours is a very\nserious matter,\" Button said.\n    He said Australia\'s concerns centred on coal and beef,\nAustralia\'s two largest exports to Japan and also significant\nU.S. Exports to that country.\n    Meanwhile U.S.-Japanese diplomatic manoeuvres to solve the\ntrade stand-off continue.\n    Japan\'s ruling Liberal Democratic Party yesterday outlined\na package of economic measures to boost the Japanese economy.\n    The measures proposed include a large supplementary budget\nand record public works spending in the first half of the\nfinancial year.\n    They also call for stepped-up spending as an emergency\nmeasure to stimulate the economy despite Prime Minister\nYasuhiro Nakasone\'s avowed fiscal reform program.\n    Deputy U.S. Trade Representative Michael Smith and Makoto\nKuroda, Japan\'s deputy minister of International Trade and\nIndustry (MITI), are due to meet in Washington this week in an\neffort to end the dispute.\n REUTER\n&#3;',0
'CHINA DAILY SAYS VERMIN EAT 7-12 PCT GRAIN STOCKS A survey of 19 provinces and seven cities\nshowed vermin consume between seven and 12 pct of China\'s grain\nstocks, the China Daily said.\n    It also said that each year 1.575 mln tonnes, or 25 pct, of\nChina\'s fruit output are left to rot, and 2.1 mln tonnes, or up\nto 30 pct, of its vegetables. The paper blamed the waste on\ninadequate storage and bad preservation methods.\n    It said the government had launched a national programme to\nreduce waste, calling for improved technology in storage and\npreservation, and greater production of additives. The paper\ngave no further details.\n REUTER\n&#3;',0
'JAPAN TO REVISE LONG-TERM ENERGY DEMAND DOWNWARDS The Ministry of International Trade and\nIndustry (MITI) will revise its long-term energy supply/demand\noutlook by August to meet a forecast downtrend in Japanese\nenergy demand, ministry officials said.\n    MITI is expected to lower the projection for primary energy\nsupplies in the year 2000 to 550 mln kilolitres (kl) from 600\nmln, they said.\n    The decision follows the emergence of structural changes in\nJapanese industry following the rise in the value of the yen\nand a decline in domestic electric power demand.\n    MITI is planning to work out a revised energy supply/demand\noutlook through deliberations of committee meetings of the\nAgency of Natural Resources and Energy, the officials said.\n    They said MITI will also review the breakdown of energy\nsupply sources, including oil, nuclear, coal and natural gas.\n    Nuclear energy provided the bulk of Japan\'s electric power\nin the fiscal year ended March 31, supplying an estimated 27\npct on a kilowatt/hour basis, followed by oil (23 pct) and\nliquefied natural gas (21 pct), they noted.\n REUTER\n&#3;',0
'THAI TRADE DEFICIT WIDENS IN FIRST QUARTER Thailand\'s trade deficit widened to 4.5\nbillion baht in the first quarter of 1987 from 2.1 billion a\nyear ago, the Business Economics Department said.\n    It said Janunary/March imports rose to 65.1 billion baht\nfrom 58.7 billion. Thailand\'s improved business climate this\nyear resulted in a 27 pct increase in imports of raw materials\nand semi-finished products.\n    The country\'s oil import bill, however, fell 23 pct in the\nfirst quarter due to lower oil prices.\n    The department said first quarter exports expanded to 60.6\nbillion baht from 56.6 billion.\n    Export growth was smaller than expected due to lower\nearnings from many key commodities including rice whose\nearnings declined 18 pct, maize 66 pct, sugar 45 pct, tin 26\npct and canned pineapples seven pct.\n    Products registering high export growth were jewellery up\n64 pct, clothing 57 pct and rubber 35 pct.\n REUTER\n&#3;',1
'INDONESIA SEES CPO PRICE RISING SHARPLY Indonesia expects crude palm oil (CPO)\nprices to rise sharply to between 450 and 550 dlrs a tonne FOB\nsometime this year because of better European demand and a fall\nin Malaysian output, Hasrul Harahap, junior minister for tree\ncrops, told Indonesian reporters.\n    Prices of Malaysian and Sumatran CPO are now around 332\ndlrs a tonne CIF for delivery in Rotterdam, traders said.\n    Harahap said Indonesia would maintain its exports, despite\nmaking recent palm oil purchases from Malaysia, so that it\ncould possibly increase its international market share.\n    Indonesia, the world\'s second largest producer of palm oil\nafter Malaysia, has been forced to import palm oil to ensure\nsupplies during the Moslem fasting month of Ramadan.\n    Harahap said it was better to import to cover a temporary\nshortage than to lose export markets.\n    Indonesian exports of CPO in calendar 1986 were 530,500\ntonnes, against 468,500 in 1985, according to central bank\nfigures.\n REUTER\n&#3;',0
'AUSTRALIAN FOREIGN SHIP BAN ENDS BUT NSW PORTS HIT Tug crews in New South Wales (NSW),\nVictoria and Western Australia yesterday lifted their ban on\nforeign-flag ships carrying containers but NSW ports are still\nbeing disrupted by a separate dispute, shipping sources said.\n    The ban, imposed a week ago over a pay claim, had prevented\nthe movement in or out of port of nearly 20 vessels, they said.\n    The pay dispute went before a hearing of the Arbitration\nCommission today.\n    Meanwhile, disruption began today to cargo handling in the\nports of Sydney, Newcastle and Port Kembla, they said.\n    The industrial action at the NSW ports is part of the week\nof action called by the NSW Trades and Labour Council to\nprotest changes to the state\'s workers\' compensation laws.\n    The shipping sources said the various port unions appear to\nbe taking it in turn to work for a short time at the start of\neach shift and then to walk off.\n    Cargo handling in the ports has been disrupted, with\ncontainer movements most affected, but has not stopped\naltogether, they said.\n    They said they could not say how long the disruption will\ngo on and what effect it will have on shipping movements.\n REUTER\n&#3;',0
'INDONESIAN COMMODITY EXCHANGE MAY EXPAND The Indonesian Commodity Exchange is\nlikely to start trading in at least one new commodity, and\npossibly two, during calendar 1987, exchange chairman Paian\nNainggolan said.\n    He told Reuters in a telephone interview that trading in\npalm oil, sawn timber, pepper or tobacco was being considered.\n    Trading in either crude palm oil (CPO) or refined palm oil\nmay also be introduced. But he said the question was still\nbeing considered by Trade Minister Rachmat Saleh and no\ndecision on when to go ahead had been made.\n    The fledgling exchange currently trades coffee and rubber\nphysicals on an open outcry system four days a week.\n    \"Several factors make us move cautiously,\" Nainggolan said.\n\"We want to move slowly and safely so that we do not make a\nmistake and undermine confidence in the exchange.\"\n    Physical rubber trading was launched in 1985, with coffee\nadded in January 1986. Rubber contracts are traded FOB, up to\nfive months forward. Robusta coffee grades four and five are\ntraded for prompt delivery and up to five months forward,\nexchange officials said.\n    The trade ministry and exchange board are considering the\nintroduction of futures trading later for rubber, but one\nofficial said a feasibility study was needed first. No\ndecisions are likely until after Indonesia\'s elections on April\n23, traders said.\n    Trade Minister Saleh said on Monday that Indonesia, as the\nworld\'s second largest producer of natural rubber, should\nexpand its rubber marketing effort and he hoped development of\nthe exchange would help this.\n    Nainggolan said that the exchange was trying to boost\noverseas interest by building up contacts with end-users.\n    He said teams had already been to South Korea and Taiwan to\nencourage direct use of the exchange, while a delegation would\nalso visit Europe, Mexico and some Latin American states to\nencourage participation.\n    Officials say the infant exchange has made a good start\nalthough trading in coffee has been disappointing.\n    Transactions in rubber between the start of trading in\nApril 1985 and December 1986 totalled 9,595 tonnes, worth 6.9\nmln dlrs FOB, plus 184.3 mln rupiah for rubber delivered\nlocally, the latest exchange report said.\n     Trading in coffee in calendar 1986 amounted to only 1,905\ntonnes in 381 lots, valued at 6.87 billion rupiah.\n     Total membership of the exchange is now nine brokers and\n44 traders.\n REUTER\n&#3;',0
'SRI LANKA GETS USDA APPROVAL FOR WHEAT PRICE Food Department officials said the U.S.\nDepartment of Agriculture approved the Continental Grain Co\nsale of 52,500 tonnes of soft wheat at 89 U.S. Dlrs a tonne C\nand F from Pacific Northwest to Colombo.\n    They said the shipment was for April 8 to 20 delivery.\n REUTER\n&#3;',0
'WESTERN MINING TO OPEN NEW GOLD MINE IN AUSTRALIA Western Mining Corp Holdings Ltd\n&lt;WMNG.S> (WMC) said it will establish a new joint venture gold\nmine in the Northern Territory at a cost of about 21 mln dlrs.\n    The mine, to be known as the Goodall project, will be owned\n60 pct by WMC and 40 pct by a local W.R. Grace and Co &lt;GRA>\nunit. It is located 30 kms east of the Adelaide River at Mt.\nBundey, WMC said in a statement\n    It said the open-pit mine, with a conventional leach\ntreatment plant, is expected to produce about 50,000 ounces of\ngold in its first year of production from mid-1988. Annual ore\ncapacity will be about 750,000 tonnes.\n REUTER\n&#3;',0
'SUMITOMO BANK AIMS AT QUICK RECOVERY FROM MERGER Sumitomo Bank Ltd &lt;SUMI.T> is certain to\nlose its status as Japan\'s most profitable bank as a result of\nits merger with the Heiwa Sogo Bank, financial analysts said.\n    Osaka-based Sumitomo, with desposits of around 23.9\ntrillion yen, merged with Heiwa Sogo, a small, struggling bank\nwith an estimated 1.29 billion dlrs in unrecoverable loans, in\nOctober.\n    But despite the link-up, Sumitomo President Koh Komatsu\ntold Reuters he is confident his bank can quickly regain its\nposition.\n    \"We\'ll be back in position in first place within three\nyears,\" Komatsu said in an interview.\n    He said that while the merger will initially reduce\nSumitomo\'s profitability and efficiency, it will vastly expand\nSumitomo\'s branch network in the Tokyo metropolitan area where\nit has been relatively weak.\n    But financial analysts are divided on whether and how\nquickly the gamble will pay off.\n    Some said Sumitomo may have paid too much for Heiwa Sogo in\nview of the smaller bank\'s large debts. Others argue the merger\nwas more cost effective than creating a comparable branch\nnetwork from scratch.\n    The analysts agreed the bank was aggressive. It has\nexpanded overseas, entered the lucrative securities business\nand geared up for domestic competition, but they questioned the\nwisdom of some of those moves.\n    \"They\'ve made bold moves to put everything in place. Now\nit\'s largely out of their hands,\" said Kleinwort Benson Ltd\nfinancial analyst Simon Smithson.\n    Among Sumitomo\'s problems are limits placed on its move to\nenter U.S. Securities business by taking a share in American\ninvestment bank Goldman, Sachs and Co.\n    Sumitomo last August agreed to pay 500 mln dlrs for a 12.5\npct limited partnership in the bank, but for the time being at\nleast, the Federal Reserve Board has forbidden them to exchange\npersonnel, or increase the business they do with each other.\n    \"The tie-up is widely looked on as a lame duck because the\nFed was stricter than Sumitomo expected,\" said one analyst.\n    But Komatsu said the move will pay off in time.\n    \"U.S. Regulations will change in the near future and if so,\nwe can do various things. We only have to wait two or three\nyears, not until the 21st century,\" Komatsu said.\n    Komatsu is also willing to be patient about possible routes\ninto the securities business at home.\n    Article 65 of the Securities and Exchange Act, Japan\'s\nversion of the U.S. Glass-Steagall Act, separates commercial\nfrom investment banking.\n    But the walls between the two are crumbling and Komatsu\nsaid he hopes further deregulation will create new\nopportunities.\n    \"We need to find new business chances,\" Komatsu said. \"In some\ncases these will be securities related, in some cases trust\nbank related. That\'s the kind of deregulation we want.\"\n    Until such changes occur, Sumitomo will focus on such\ndomestic securities business as profitable government bond\ndealing and strengthening relations with Meiko Securities Co\nLtd, in which it holds a five pct share, Komatsu said.\n    He said Sumitomo is cautiously optimistic about entering\nthe securities business here through its Swiss universal bank\nsubsidiary, Banca del Gottardo.\n     The Finance Ministry is expected to grant licences to\nsecurities subsidiaries of U.S. Commercial banks soon,\nfollowing a similar decision for subsidiaries of European\nuniversal banks in which the parent holds a less than 50 pct.\n    But Komatsu is reluctant to push hard for a similar\ndecision on a Gottardo subsidiary.\n    \"We don\'t want to make waves. We expect this will be allowed\nin two or three years,\" he said.\n    Like other city banks, Sumitomo is also pushing to expand\nlending to individuals and small and medium businesses to\nreplace disappearing demand from big business, he added.\n    The analysts said Sumitomo will have to devote a lot of\ntime to digesting its most recent initiatives, including the\nmerger with ailing Heiwa Sogo.\n    \"It\'s (Sumitomo) been bold in its strategies,\" said\nKleinwort\'s Smithson.\n    \"After that, it\'s a question of absorbing and juggling\naround. It will be the next decade before we see if the\nstrategy is right or wrong.\"\n REUTER\n&#3;',0
'SUBROTO SAYS INDONESIA SUPPORTS TIN PACT EXTENSION Mines and Energy Minister Subroto\nconfirmed Indonesian support for an extension of the sixth\nInternational Tin Agreement (ITA), but said a new pact was not\nnecessary.\n    Asked by Reuters to clarify his statement on Monday in\nwhich he said the pact should be allowed to lapse, Subroto said\nIndonesia was ready to back extension of the ITA.\n    \"We can support extension of the sixth agreement,\" he said.\n\"But a seventh accord we believe to be unnecessary.\"\n    The sixth ITA will expire at the end of June unless a\ntwo-thirds majority of members vote for an extension.\n REUTER\n&#3;',0
'BUNDESBANK ALLOCATES 6.1 BILLION MARKS IN TENDER The Bundesbank accepted bids for 6.1\nbillion marks at today\'s tender for a 28-day securities\nrepurchase pact at a fixed rate of 3.80 pct, a central bank\nspokesman said.\n    Banks, which bid for a total 12.2 billion marks liquidity,\nwill be credited with the funds allocated today and must buy\nback securities pledged on May 6.\n    Some 14.9 billion marks will drain from the market today as\nan earlier pact expires, so the Bundesbank is effectively\nwithdrawing a net 8.1 billion marks from the market with\ntoday\'s allocation.\n    A Bundesbank spokesman said in answer to enquiries that the\nwithdrawal of funds did not reflect a tightening of credit\npolicy, but was to be seen in the context of plentiful\nliquidity in the banking system.\n    Banks held an average 59.3 billion marks at the Bundesbank\nover the first six days of the month, well clear of the likely\nApril minimum reserve requirement of 51 billion marks.\n    The Bundesbank spokesman noted that by bidding only 12.2\nbillion marks, below the outgoing 14.9 billion, banks\nthemselves had shown they felt they had plenty of liquidity.\n    Dealers said the Bundesbank is keen to prevent too much\nliquidity accruing in the market, as that would blunt the\neffectiveness of the security repurchase agreement, its main\nopen-market instrument for steering market interest rates. Two\nfurther pacts are likely this month over the next two weeks.\n    The Bundesbank is currently steering call money between 3.6\nand 3.8 pct, although short-term fluctuations outside that\nrange are possible, dealers said.\n REUTER\n&#3;',0
'BOND CORP STILL CONSIDERING ATLAS MINING BAIL-OUT Bond Corp Holdings Ltd &lt;BONA.S> and Atlas\nConsolidated Mining and Development Corp &lt;ATLC.MN> are still\nholding talks on a bail-out package for the troubled mining\nfirm, an Atlas statement said.\n    Atlas, the Philippines\' biggest copper producer, said it\nhad been hit by depressed world copper prices. It reported a\nnet loss of 976.38 mln pesos in the year ending December 1986,\ncompared with a net loss of 1.53 billion in 1985.\n    The company said it had been able to cut its losses because\nits scaled-down copper operations in the central island of Cebu\nstarted in the second half of 1986.\n    Atlas said negotiations were continuing on the acquisition\nby Bond of the company\'s existing bank loans and their\nrestructuring into a gold loan.\n    A memorandum of understanding signed by the two sides in\nOctober last year said Bond would acquire Atlas\' total loans of\n275 mln dlrs, to be repaid by the mining company in gold.\n    Atlas said the two sides were also discussing equity\ninfusion into Atlas and the creation of a development fund for\nfurther exploration and development of the company\'s gold\nproperties in the central province of Masbate.\n    Wilson Banks, general manager of &lt;Bond Corp International\nLtd> in Hong Kong, told Reuters the Atlas statement on the\nnegotiations was \"reasonably accurate.\"\n    Banks said Bond Corp was seriously considering several\ninvestments in the Philippines but did not give details.\n    In its statement, Atlas said development of the pre-World\nWar Two underground mines in Masbate had been accelerated and\nthe ore tonnage had increased, extending the operation\'s life\nat least until 1993.\n REUTER\n&#3;',0
'CHINA INDUSTRIAL OUTPUT RISES IN FIRST QUARTER China\'s industrial output rose 14.1 pct\nin the first quarter of 1987 against the same 1986 period, the\nPeople\'s Daily said.\n    Its overseas edition said the growth rate, which compares\nwith a target of seven pct for the whole of 1987, was \"rather\nhigh\" but the base in the first quarter of 1986 was on the low\nside. Industrial output grew 4.4 pct in the first quarter of\n1986.\n    It said China\'s industrial production this year has been\nnormal but product quality and efficiency need further\nimprovement. It gave no further details.\n REUTER\n&#3;',0
'JAPAN MINISTRY SAYS OPEN FARM TRADE WOULD HIT U.S. Japan\'s Agriculture Ministry, angered by\nU.S. Demands that Japan open its farm products market, will\ntell U.S. Officials at talks later this month that\nliberalisation would harm existing U.S. Farm exports to Japan,\na senior ministry official said.\n    \"Imports from the U.S. Would drop due to active sales drives\nby other suppliers,\" the official, who declined to be named,\nsaid. \"Japan is the largest customer for U.S. Farm products and\nit is not reasonable for the U.S. To demand Japan liberalise\nits farm import market,\" he said.\n    Agriculture Minister Mutsuki Kato has said if the U.S.\nInsists Japan open its protected rice market it will also open\nits wheat market, where volume and origin are regulated to\nprotect local farmers.\n    Australia and Canada could then increase their wheat\nexports as they are more competitive than the U.S., He said.\nEnd-users would also buy other origins, grain traders said.\n    U.S. Agriculture Secretary Richard Lyng, who is due to\nvisit Japan for talks between April 16-27, has said he will ask\nJapan to offer a share of its rice market to U.S. Suppliers and\nremove quotas on U.S. Beef and citrus imports.\n    Other countries are already cutting into the U.S. Market\nshare here. Australia, the largest beef supplier to Japan, has\nbeen trying to boost exports prior to the expiry of a four-year\nbeef accord next March 31.\n    Imports of U.S. Corn have fallen due to increased sales\nfrom China and South America, while Japanese soybean imports\nfrom Brazil are expected to rise sharply this year, although\nthe U.S. Will remain the largest supplier.\n    U.S. Feedgrain sales will also drop if Japan opens up its\nbeef imports, since Japan depends almost entirely on feedgrain\nimports, mainly from the U.S., Japanese officials said.\n    An indication of the U.S. Position came last December when\nUnder Secretary of Agriculture Daniel Amstutz said Japan has\nthe potential to provide one of the largest boosts to U.S.\nAgricultural exports, with the beef market alone representing\nsome one billion dlrs in new business.\n    The U.S. Has also asked the General Agreement on Tariffs\nand Trade to investigate the legality of Japanese import\ncontrols on 12 other farm products, including fruit juices,\npurees and pulp, tomato juice, ketchup and sauce, peanuts,\nprepared beef products and miscellaneous beans.\n    To help calm heated trade relations with the U.S., Japan\'s\ntop business group Keidanren has urged the government to remove\nresidual import restrictions on agricultural products.\n    But Agriculture Minister Kato has ruled out any emotional\nreaction, and the senior ministry official said the farm issue\nshould not become a scapegoat for trade pressure in the\nindustrial sector.\n    \"Japan is the largest buyer of U.S. Farm products, and these\nissues should not be discussed on the same table,\" the official\nsaid.\n REUTER\n&#3;',1
'AMATIL PROPOSES TWO-FOR-FIVE BONUS SHARE ISSUE Amatil Ltd &lt;AMAA.S> said it proposes to\nmake a two-for-five bonus issue out of its revaluation reserve\nto shareholders registered May 26.\n    Shareholders will be asked to approve the issue and an\nincrease in authorised capital to 175 mln shares from 125 mln\nat a general meeting on May 1, it said in a statement.\n    The new shares will rank for dividends declared after\nOctober 31. Amatil, in which B.A.T. Industries Plc &lt;BTI.L>\nholds a 41 pct stake, said it does not expect to maintain its\nlatest annual dividend rate of 29 cents a share on the enlarged\ncapital.\n REUTER\n&#3;',0
'BOWATER 1986 PRETAX PROFITS RISE 15.6 MLN STG Shr 27.7p vs 20.7p\n    Div 6.0p vs 5.5p making 10.0p vs 9.25p\n    Turnover 1.34 billion stg vs 1.29 billion\n    Pretax profit 48.0 mln vs 32.4 mln\n    Tax 14.4 mln vs 6.9 mln\n    Company name is Bowater Industries Plc &lt;BWTR.L>\n    Trading profit 63.4 mln vs 45.1 mln\n    Trading profit includes -\n    Packaging and associated products 23.2 mln vs 14.2 mln\n    Merchanting and services 18.4 mln vs 9.6 mln\n    Tissue and timber products 9.0 mln vs 5.8 mln\n    Interest debit 15.4 mln vs 12.7 mln\n    Minority interests 7.0 mln debit vs 6.2 mln debit\n    Extraordinary items 15.4 mln credit vs 11.9 mln debit\n REUTER\n&#3;',0
'U.K. MONEY MARKET DEFICIT FORECAST AT 250 MLN STG The Bank of England said it forecast a\nshortage of around 250 mln stg in the money market today.\n    Among the main factors affecting liquidity, bills maturing\nin official hands and the take-up of treasury bills will drain\nsome 505 mln stg, while bills for repurchase by the market will\nremove around 194 mln. In addition, a rise in note circulation\nand bankers\' balances below target will each drain around 110\nmln stg.\n    Partly offsetting these outflows, exchequer transactions\nwill add some 690 mln stg to the system today.\n REUTER\n&#3;',0
'SOUTH KOREA MOVES TO SLOW GROWTH OF TRADE SURPLUS South Korea\'s trade surplus is growing too\nfast and the government has started taking steps to slow it\ndown, Deputy Prime Minister Kim Mahn-je said.\n    He told a press conference the government planned to\nincrease investment, speed up the opening of the local market\nto foreign imports and gradually adjust its currency to hold\nthe surplus \"at a proper level.\"\n    But he said the government would not allow the won to\nappreciate too much in a short period of time. South Korea has\nbeen under pressure from Washington to revalue the won.\n    The U.S. Wants South Korea to cut its trade surplus with\nthe U.S., Which rose to 7.4 billion dlrs in 1986 from 4.3\nbillion dlrs in 1985.\n    Kim, who is also economic planning minister, said prospects\nwere bright for the South Korean economy, but the government\nwould try to hold the current account surplus to around five\nbillion dlrs a year for the next five years.\n    \"Our government projections of eight pct GNP growth, five\nbillion dlrs of (current account) surplus and 12 pct growth in\nexports all seemed to be reasonable early this year. But now\nthe surplus is growing faster than we expected,\" he said.\n    Trade ministry officials said South Korea\'s exports rose 35\npct to 9.34 billion dlrs in the first three months of this\nyear, while imports rose only 8.5 pct to 8.2 billion dlrs.\n    Kim said the swing of South Korea\'s current account to a\nsurplus of 4.65 billion dlrs in 1986 from an 890 mln dlr\ndeficit in 1985 was very significant. The surplus enabled the\ncountry to reduce its foreign debt last year for the first\ntime.\n    South Korea\'s foreign debt, which fell to 44.5 billion dlrs\nin 1986 from 46.8 billion in 1985, is still among the largest\nin Asia.\n    \"This huge amount of our foreign debt has been one of the\nmajor constraints on our development... Last year was a major\nturning point for the Korean economy,\" Kim said.\n    Kim said his government plannned to reduce the ratio of\nforeign debt to the country\'s GNP to about 20 pct in 1991, from\nabout 50 pct in 1986.\n    \"The government, however, does not want to accelerate\nreducing the debt by making an excessive trade surplus,\" he\nsaid.\n    Kim said a sudden rise in the surplus would cause inflation\nand lead to trade friction with Seoul\'s major trading partners,\nparticularly the United States.\n    \"We need a surplus because we have to reduce our debt, but\nwe are taking measures to hold the size of the surplus at a\nproper level,\" Kim said.\n REUTER\n&#3;',0
'FINNS AND CANADIANS TO STUDY MTBE PRODUCTION PLANT Finland\'s national oil company Neste Oy\n&lt;NEOY.HE> said in a statement it had agreed with Canadian firms\nto study the feasibility of building a plant in Edmonton,\nCanada, to produce a replacement for lead in petrol.\n    The prospective plant would cost an estimated 270 mln\nCanadian dlrs and would produce methyl tertiary butyl ether\n(MTBE) from raw materials available locally, it said.\n    The partners in the study are Neste Oy, Celanese Canada\nInc, Hoechst Celanese Corporation and Trade Mountain Pipe Line\nCompany Ltd, of Vancouver, B.C.\n    The Edmonton site was suitable because of the raw materials\navailability, the proximity to pipeline transportation and the\nimportant capital and operating advantages gained by locating\non an existing Celanese Canada site, the statement said.\n    The partners would look into the feasibility of a plant\nproducing 500,000 tonnes per annum of MTBE, an octane enhancer\nthat can replace tetra ethyl lead.\n    Most of the MTBE would be targeted for the United States\nwhere lead levels in gasoline are being lowered because of\nhealth concerns, the statement added.\n    Canadian lead limits are currently 11 times as high as the\nU.S. Limit but lead is scheduled for virtual elimination in\nCanada by 1993, which should create a Canadian demand for MTBE,\nit said.\n    Finland\'s Neste Oy, whose turnover last year was over five\nbillion dlrs, has extensive experience with MTBE. It has a\nmajor investment in an MTBE plant in Saudi Arabia.\n    The Edmonton, Alberta plant would be scheduled to go on\nstream in late 1989, the statement said.\n REUTER\n&#3;',0
'CRA SOLD FORREST GOLD FOR 76 MLN DLRS - WHIM CREEK &lt;Whim Creek Consolidated NL> said the\nconsortium it is leading will pay 76.55 mln dlrs for the\nacquisition of CRA Ltd\'s &lt;CRAA.S> &lt;Forrest Gold Pty Ltd> unit,\nreported yesterday.\n    CRA and Whim Creek did not disclose the price yesterday.\n    Whim Creek will hold 44 pct of the consortium, while\n&lt;Austwhim Resources NL> will hold 27 pct and &lt;Croesus Mining\nNL> 29 pct, it said in a statement.\n    As reported, Forrest Gold owns two mines in Western\nAustralia producing a combined 37,000 ounces of gold a year. It\nalso owns an undeveloped gold project.\n REUTER\n&#3;',0
'GERMAN INDUSTRIAL EMPLOYMENT SEEN STAGNATING The number of workers employed in\nthe West German industrial sector stagnated in the last quarter\nof 1986 as a 50,000 increase in overall employment benefited\nonly the services branch, the DIW economic institute said.\n    A DIW report added the general downturn in the economy\nsince last Autumn had had a negative effect on the willingness\nof firms to take on workers. It referred to a marked downturn\nin the number of workers taken on in the capital goods sector.\n    New orders for manufacturing industry goods have mostly\nfallen or stagnated in recent months, but data for February\nfinally showed a reversal of the trend, with a 1.9 pct rise.\n REUTER\n&#3;',0
'BOWATER INDUSTRIES PROFIT EXCEED EXPECTATIONS Bowater Industries Plc &lt;BWTR.L> 1986\npretax profits of 48.0 mln stg exceeded market expectations of\naround 40 mln and pushed the company\'s shares up sharply to a\nhigh of 491p from 468p last night, dealers said.\n    The shares later eased back to 481p. Bowater reported a\n32.4 mln stg profit in 1985.\n    The company said in a statement accompanying the results\nthat the underlying trend showed improvement and it intended to\nexpand further by developing existing businesses and seeking\nnew opportunities.\n    It added that it had appointed David Lyon, currently\nmanaging director of Redland Plc &lt;RDLD.L> as its new chief\nexecutive.\n    Analysts noted that Bowater\'s profits of 18.9 mln stg from\n13.2 mln previously had been given a boost by pension benefits\nof 4.5 mln stg.\n    Profit from Australia and the Far East showed the greatest\npercentage rise, jumping 55.0 pct to 15.5 mln from 10.0 mln,\nwhile the profit from U.K. Operations rose 30.7 pct to 24.7\nmln, and Europe, 42.9 pct to 11.0 mln.\n REUTER\n&#3;',0
'CITIBANK NORWAY UNIT LOSES SIX MLN CROWNS IN 1986 Citibank A/S &lt;CCI.N>, the Norwegian\nsubsidiary of the U.S.-based bank, said it made a net loss of\njust over six mln crowns in 1986 -- although foreign bankers\nsaid they expect it to show 1987 profits after two lean years.\n    Citibank\'s Oslo treasury head Bjoern Sejerstad told\nReuters, Citibank, one of seven foreign bank subsidiaries\noperating in Norway, lost money because of restructuring for\ninvestment banking away from commercial banking and an economic\nslump in Norway following last year\'s plunge in oil prices.\n    Foreign banks have been allowed to operate susbidiaries in\nNorway since 1985.\n    Foreign banking analysts in Oslo said access to Norway\'s\nsecond-hand securities and equities markets, to be approved\nlater this spring, and lower primary reserve requirements would\nmake profit this year.\n    Citibank lost 490,000 crowns in Norway in 1985, but\nSejerstad said a profit was likely this year because of planned\nliberalisation and better economic performance, helped by a\nsteadier oil price of around 18 dlrs a barrel.\n    Earlier this year, Chase Manhattan Bank\'s &lt;CMB.N>\nsubsidiary decided to stop foreign exchange trading after heavy\nlosses and focus instead on fee-based merchant banking.\n REUTER\n&#3;',0
'VIEILLE MONTAGNE SAYS 1986 CONDITIONS UNFAVOURABLE A sharp fall in the dollar price of\nzinc and the depreciation of the U.S. Currency created\nunfavourable economic conditions for Vieille Montagne SA\n&lt;VMNB.BR> in 1986.\n    It said in a statement that the two factors led to a\nsqueeze on refining margins and an 18.24 pct fall in sales and\nservices income despite an unchanged level of activity.\n    Vieille Montagne, which is actively pursuing a\nrestructuring program, reported a 198 mln franc net loss, after\n187 mln francs in provisions for the closure of an electrolysis\nplant, compared with a 250 mln franc net profit in 1985.\n REUTER\n&#3;',0
'VIEILLE MONTAGNE REPORTS LOSS, DIVIDEND NIL 1986 Year\n    Net loss after exceptional charges 198 mln francs vs profit\n    250 mln\n    Exceptional provisions for closure of Viviez electrolysis\n    Plant 187 mln francs vs exceptional gain 22 mln\n    Sales and services 16.51 billion francs vs 20.20 billion\n    Proposed net dividend on ordinary shares nil vs 110 francs\n    Company\'s full name is Vieille Montagne SA &lt;VMNB.BR>.\n REUTER\n&#3;',0
'EC MAINLY FOR TIN EXTENSION, NO U.K. STAND TAKEN European Community (EC) members of the\nInternational Tin Council, except Britain, have said they are\nprepared to back an extension of the International Tin\nAgreement, an EC spokesman said.\n    He said at a meeting of EC states\' representatives here\nyesterday, Britain undertook to communicate its own decision to\nits partners today. It said it was not ready yesterday to take\na stand but did not say why.\n    He added nine other EC states backed an extension. Spain\nand Portugal, which are not members of the International Tin\nCouncil, raised no objections to a common EC stance in favour.\n REUTER\n&#3;',0
'JAPAN GIVEN LITTLE HOPE OF AVOIDING U.S. SANCTIONS A top U.S. Official said Japan has little\nchance of convincing the U.S. To drop threatened trade\nsanctions, despite the efforts of a Japanese team that left for\nWashington today.\n    Michael Armacost, Under Secretary of State for Political\nAffairs, was asked at a press conference whether Japan\'s moves\nto boost its domestic economy and open its markets could\npersuade the U.S. Not to impose tariffs on Japanese imports\nsaid, and replied: \"...It is probably too early for the figures\nto demonstrate that the situation has turned around and to\npermit the result you have described.\"\n    Armacost said the U.S. Hopes Japan will take steps to lift\nits domestic economy and reduce dependence on exports, remove\nbarriers to imports and settle outstanding trade issues.\n    \"There are obvious problems at the moment in the trade area,\nbut we do not wish those problems to divert attention from\nimportant areas of cooperation that continue to exist on\nsecurity and political issues,\" he said.\n    \"The question is whether through cooperative actions between\nour governments we can reduce the (trade) imbalance or whether\nCongress takes action to reduce it through protectionist\nlegislation,\" he said.\n REUTER\n&#3;',0
'THAI ZINC EXPORTS FALL IN MARCH Thai zinc ingot exports fell to 882\ntonnes in March from 1,764 in February and 3,008 in March 1986,\nthe Mineral Resources Department said.\n    A spokesman for Padaeng Industry Co Ltd, the country\'s sole\nexporter, attributed the decline to the company\'s lower stocks,\nwhich averaged 5,000 tonnes in the first quarter against 16,000\ntonnes in late 1985 when it began exporting.\n    The department said major buyers included China, Japan, the\nPhilippines, South Korea, Singapore and Taiwan.\n    Thailand exported 4,842 tonnes of zinc ingots during the\nfirst quarter, down from 14,937 a year ago.\n REUTER\n&#3;',0
'EC SUGAR TENDER HARD TO PREDICT - LONDON TRADE The outcome of today\'s European Community\n(EC) white sugar tender is extremely difficult to predict after\nlast week\'s substantial award of 102,350 tonnes at the highest\never rebate of 46.864 European currency units (Ecus) per 100\nkilos, traders said.\n    Some said they believed the tonnage would probably be\nsmaller, at around 60,000 tonnes, but declined to give a view\non the likely restitution. Last week, the European Commission\naccepted 785,000 tonnes of sugar into intervention by operators\nprotesting about low rebates. This might be a determining\nfactor in today\'s result, they added.\n REUTER\n&#3;',0
'NORTH YEMEN CALLS SUGAR BUYING TENDER - TRADE North Yemen has called a buying tender\nfor Saturday for the purchase of 30,000 tonnes of white sugar\nfor arrival in June, traders said.\n REUTER\n&#3;',0
'ANHEUSER-BUSCH JOINS BID FOR SAN MIGUEL Anheuser-Busch Companies Inc &lt;BUD.N> has\njoined several other foreign bidders for sequestered shares of\nthe Philippines\' largest food and beverage maker San Miguel\nCorp &lt;SANM.MN>, the head of a government panel which controls\nthe shares told Reuters.\n    Ramon Diaz, Secretary of the Presidential Commission on\nGood Government (PCGG), said Anheuser-Busch had told the\ngovernment it was interested in buying 14 mln \"B\" shares of San\nMiguel. He did not disclose the offered price.\n    Diaz said Australian brewer Alan Bond\'s Bond Corp Holdings\nLtd had offered 150 pesos per share for the \"B\" shares.\n    Diaz said New York investment bank Allen and Co Inc had\nearlier said it was interested in buying all 38.1 mln\nsequestered shares. He told Reuters last month Elders IXL Ltd\n&lt;ELXA.S>, the Melbourne-based brewing company, had also bid for\nthe \"B\" shares.\n    The Hong Kong Economic Journal last month quoted a\nspokesman of Australian stock broker Jacksons Ltd as saying\nthat &lt;Barwon Farmlands Ltd>, an Australian firm owned 30 pct by\n&lt;Ariadne Australia Ltd>, was planning a Filipino branch in\norder to buy the entire block of 38.1 mln shares.\n    Anheuser-Busch last year made a 150 mln dlr bid to buy &lt;San\nMiguel Brewery Ltd>, a Hong Kong listed company which is 69.65\npct owned by &lt;Neptunia Corp Ltd>, a San Miguel Corp subsidiary.\n    The talks broke down last June after the two sides said\nthey could not agree on the terms of the sale.\n REUTER\n&#3;',0
'ECONOMIC SPOTLIGHT - AUSTRALIAN MARKETS BOOMING Australian markets are booming as foreign\nfund managers redirect capital away from the United States and\nother traditional markets, analysts said.\n    High short-term interest rates, a bullish stock market and\nan increasingly stable currency reflect a massive inflow of\nfresh funds in the last two months, largely from Japanese and\nU.S. Investors, analysts polled by Reuters said.\n    Fund managers want quality markets to park their cash in\nand have settled on Australia, Britain and Canada as they\ndiversify from volatile U.S. Dollar instruments, they said.\n    A one percentage point fall in key 10-year bonds rates in\nthe past month, record share prices and a 10-month high for the\ncurrency of 0.71 U.S. Dlrs all illustrated the inflow.\n    Official figures on the latest inflow of investment capital\nare not available, but brokers said they received almost daily\ninquiries from Japan and the United States.\n    \"These people have got trillions of dollars sloshing about\nand they don\'t know what to do with it. Some of that is ending\nup here with the attraction of high interest rates and\nreasonable currency stability,\" National Australia Bank Ltd\neconomist Brian Hamley said.\n    \"There is a \'flight to quality\',\" Hamley said. \"Australia may\nnot be in the best (economic) position, but there aren\'t too\nmany other countries where you\'d want to put your money.\"\n    The stronger Australian dollar was also attracting\ninvestors taking advantage of an appreciating currency against\nthe volatility of the U.S. Unit, analysts said.\n    \"We\'re looking a more favoured market than perhaps the U.S.\nWhere some people would be concerned about the value of the\nU.S. Dollar,\" Lloyds Bank NZA Ltd chief economist Will Buttrose\nsaid. \"Why not put the money in Australia where entry is cheap\nand the currency looks stable?\"\n    But turning that capital into more permanent productive\ninvestment depends on government economic policy, he said.\n    \"It will only disappear if people lose confidence in the\ndirection in the economy,\" Buttrose said, adding that offshore\ninvestors would carefully watch the government\'s promised tough\neconomic statement on May 14.\n    While happy to invest in bonds and other vehicles yielding\ninterest unobtainable elsewhere, fund managers could just as\neasily reverse the flow -- particularly the Japanese, who were\nbadly hurt in the past by rapid falls in the Australian dollar\nand hefty jumps in bond rates, analysts said.\n    \"It will remain very edgy money. If something was not to be\ndelivered, if the statement wasn\'t considered tough enough, one\nmight see a substantial outflow,\" Buttrose said.\n    Offshore investors are eager to see Australia take tough\neconomic decisions to curb its 100 billion dlr foreign debt and\nstubborn current account deficit, analysts said.\n    \"They are giving us the benefit of the doubt and I think\nthey would like to leave the money here,\" Buttrose said.\n    Reserve Bank policy has also reflected the increased\ninterest in investment in Australia and the need to shield\nJapanese investors from rapid currency fluctuations.\n    Reserve Governor Bob Johnston last week acknowledged an\nelement of targeting the rate against the yen in currency\npolicy when he said authorities could not take their \"eyes off\nthe yen\" because of the crucial role of Japanese investors.\n    Analysts said they believed the Reserve Bank had worked\nsuccessfully in recent months to keep the Australian dollar\nwithin the range of 100 to 103 yen.\n    Apart from its recovery against a weak U.S. Dollar, the\nAustralian dollar has also risen almost three pct on a\ntrade-weighted basis in the last three weeks.\n    Offshore buying has also played a role in the booming\nAustralian share market. It has followed Wall Street and other\nmarkets, but is also setting its own trend in response to the\nweight of both domestic and offshore funds pouring into\nequities, particularly in the gold sector.\n    The key all ordinaries index rose to a record 1,758.3\ntoday, nearly 20 pct above its level at the end of 1986, while\nthe gold index has nearly doubled to a record 3,081.0 in the\nsame period.\n    The property sector is also sought after, with Japanese\ncompanies that have invested heavily in the United States in\nrecent years turning their attention to undervalued real\nestate, particularly in the tourism field.\n    Analysts pointed to the recent sale of Sydney\'s five-star\nRegent Hotel to Japanese interests for more than 145 mln dlrs\nas indicative of the type of property being sought.\n    \"They think they find good value real estate here which,\nwith long term and fixed capital investment, is the kind of\ninvestment Australia needs,\" Buttrose added.\n REUTER\n&#3;',0
'ECONOMIC SPOTLIGHT - KUWAITI ECONOMY Kuwait\'s oil-reliant and debt-ridden\neconomy has started to pull out of a nosedive but oil prices\nwill determine the pace of recovery, bankers and economists\nsay.\n    Crucial will be the ability of the 13-member OPEC to hold\noil prices around a new benchmark of 18 dlrs a barrel in the\nnorthern hemisphere summer when demand usually slackens.\n    Bankers estimate the economy, measured in terms of gross\ndomestic product (gdp), shrank 19 pct in real terms last year\nafter contracting 8.1 pct the year before.\n    This was after taking into account inflation in consumer\nprices of 1.5 pct in 1985, slowing to 1.0 pct in 1986.\n    Factors depressing economic activity include the\n6-1/2-year-old Iran-Iraq war on Kuwait\'s doorstep, which\nthreatens the emirate\'s vital oil export lifeline through the\nGulf and has sapped business confidence.\n    But sentiment received a much-needed boost in September\nwhen, after a series of piecemeal steps to combat a debt crisis\ncaused by the 1982 crash of local stock market, a comprehensive\nnew debt settlement program was introduced.\n    The share crash, result of a speculative spree in forward\ntrading, left 95 billion dlrs of post-dated cheques in default.\n    The cheques were also used as collateral for consumer\nspending, thus generating an informal credit system.\n    Much of the debt has been watered down but big sums are\nstill owed by individuals and companies.\n    There was some 4.4 billion dinars (about 15.7 billion dlrs)\nin outstanding bank credit at the end of 1986, of which\none-quarter to one-third was estimated by bankers to rank as\nbad or doubtful debt. But the government has repeatedly said it\nwill not allow any banks to go under.\n    The new debt settlement scheme entails a rescheduling of\nproblem credit over 10 to 15 years, depending on whether\ndebtors have regular cash flows or not.\n    Banks\' shareholders and depositors will have their rights\nguaranteed by the government -- an edict of vital significance\nin a country of only 1.7 mln people where the financial sector\nis the biggest after oil.\n    Kuwait is better placed than any other OPEC country to ride\nout the oil glut, bankers and economists say.\n    Kuwait has an OPEC quota of 948,000 barrels per day (bpd)\ncompared with production capacity of 4.0 mln bpd mentioned last\nyear by Oil Minister Sheikh Ali al-Khalifa al-Sabah.\n    But strategic diversification into downstream operations in\nEurope several years ago and a hefty refining investment at\nhome gives it guaranteed markets abroad and enables it to sell\nover one-half of its output as high-grade refined oil products.\n    Oil industry sources say Kuwait is able to get an average\n2.00 dlrs a barrel more by selling oil in the form of processed\nproduct such as gas oil, kerosene and naphtha, rather than as\ncrude.\n    Bankers say the rebound in oil prices is the major reason\nfor cautious optimism. Other reasons are low domestic\ninflation, a bottoming out of the fall in imports in recent\nyears and signs government spending on productive sectors will\nremain steady.\n    External accounts are in good shape, with an estimated 1.8\nbillion dinar current account surplus in 1986, 16 pct below\nthat for 1985, but still an achievement in the recession-hit\nGulf.\n    Kuwait\'s petrodollar reserves in mid-1986 were put\nofficially at over 80 billion dlrs, earning investment income\nof the equivalent of about 3.65 billion dlrs a year.\n    But for the first time since the end of the oil boom, these\nreserves may not be enough to prevent a \"real\" budget deficit for\nthe 1986/87 fiscal year ending June 30, bankers say.\n    In a budget portrayed by bankers as mildly contractionary,\nrevenues for 1986/87 were cut 38.6 pct and spending 11 pct,\ndoubling the nominal deficit to 1.33 billion dinars.\n    This left out income from state reserves, usually excluded\nin official budget accounting, which are forecast by bankers at\nup to 1.0 billion dinars in 1986/87, resulting in some\nshortfall.\n    Bankers say it is too early to venture a forecast for\neconomic growth this year or next.\n    \"It depends on oil prices,\" one said. \"This summer is\nimportant.\"\n    Cabinet Affairs Minister Rashid al-Rashid said last Sunday\nthe cabinet has ratified recommendations to rationalise state\nspending in favour of productive sectors and reactivate the\neconomy.\n    He gave no details but bankers say these are expected to be\nspelled out in the 1987/88 budget, possibly in June.\n REUTER\n&#3;',0
'MALAYSIA MAY NOT MEET 1987 OIL PALM TARGET Malaysia is unlikely to meet its\ntargeted output of five mln tonnes of oil palm in calendar\n1987, oil palm growers told Reuters.\n    Output in 1987 is expected to reach around 4.5 mln tonnes,\nunchanged from 1986, because of drought, low use of fertiliser\nand overstressed palms, they said.\n    The growers were asked for their reaction to an Oil World\nnewsletter report that Malaysia\'s oil palm output is likely to\ndrop sharply this year.\n    Palm oil now sells at around 700 ringgit a tonne, or about\n115 ringgit less than soybean oil, but Malaysia must sell more\npalm oil to prevent a stock buildup that could damage the\nindustry, a leading grower told Reuters.\n    The country\'s palm oil stocks now total some 500,000 tonnes\nagainst about 800,000 last March, the growers said.\n    The growers expect palm oil prices to ease later this year\ndue to pressure from South American and U.S. Soybean output.\n    The current South American oilseed harvest, mainly soybean,\nis likely to be around 25.7 mln tonnes against the previous\n21.7 mln tonne crop, they said.\n    In addition, new U.S. Soybean plantings are also expected\nto enter the market around November when Malaysian palm oil\noutput peaks.\n    They said new planting of palms is also likely to slow,\nwith some 50,000 hectares expected to be planted with new trees\nagainst 100,000 in 1986, although the effects of this reduction\nwill not be felt for about another three years.\n REUTER\n&#3;',0
'JARDINE MATHESON SAID IT SETS TWO-FOR-FIVE BONUS ISSUE REPLACING \"B\" SHARES\n ',0
'MONIER SAYS BRITAIN\'S REDLAND MAY BID FOR IT Diversified building materials group\nMonier Ltd &lt;MNRA.S> said talks are taking place which may lead\nto Britain\'s Redland Plc &lt;RDLD.L> making an offer for the\nMonier shares it does not already hold, chairman Bill Locke\nsaid.\n    Redland already holds about 49 pct of Monier\'s 156.28 mln\nissued shares, he said in a brief notice to the Australian\nStock Exchange.\n    Locke said shareholders would be advised as soon as the\ndiscussions progressed and recommended that they keep their\nshares.\n    Monier shares were trading at a 1987 high of 3.10 dlrs\ntoday, up from the previous peak of 2.80 at yesterday\'s close,\nand well above the 1987 low of 2.18 dlrs.\n    Monier is the largest concrete roof tile manufacturer in\nAustralia, the U.S. And New Zealand and the world\'s largest\nmarketer of fly ash, according to its annual report for 1985/86\nended June 30.\n    It recently reported first-half 1986/87 net fell to 15.02\nmln dlrs from 17.09 mln a year earlier due to the Australian\nhousing downturn, although foreign earnings rose.\n REUTER\n&#3;',0
'ISUZU PLANS NO INTERIM DIVIDEND Isuzu Motor Ltd &lt;ISUM.T> will pay no\ndividend for the first half year ending April 30, 1987, as the\ncompany is expected to mark a 12 billion yen parent company\ncurrent loss in the first half due to slow exports caused by\nthe yen\'s appreciation, a company spokesman said.\n    The company has paid no dividend since the year ended\nOctober 31, 1983, when it paid five yen.\n    It had a 4.44 billion yen current profit in the first half\nof 1985/86.\n REUTER\n&#3;',0
'JAPANESE OFFICIAL TAKES DATA TO MICROCHIP TALKS Ministry of International Trade and\nIndustry (MITI) Vice Minister Makoto Kuroda leaves for\nWashington today with data he hopes will refute U.S. Charges\nJapan has violated a pact on microchip trade.\n    A three-man Japanese trade team is already in Washington\nlaying the groundwork for talks between Kuroda and Deputy U.S.\nTrade Representative Michael Smith aimed at persuading the U.S.\nNot to impose tariffs on certain Japanese products.\n    But Kuroda said he is taking no new proposals. \"I have\nnothing in my briefcase except an explanation of the current\nsituation,\" Kuroda told the daily newspaper Asahi Shimbun.\n    Kuroda said the U.S. Decision was based on incorrect data\nand an exaggerated sense of MITI\'s power to control market\nforces. \"The U.S. Has excessive expectations. To stabilise\nsupply-demand relations which have been disrupted by excess\ninventories since 1985 will take some time,\" he said.\n    Kuroda also laid part of the blame for low U.S. Chip sales\nin Japan on a lack of effort by American firms here.\n    He said if he fails in talks tomorrow and Friday to\nforestall sanctions, he will seek further talks with U.S. Trade\nRepresentative Clayton Yeutter. U.S. Officials said this week\'s\ntalks are unlikely to delay imposition of tariffs.\n REUTER\n&#3;',0
'BELL GROUP CONFIRMS STANDARD CHARTERED STAKE The Bell Group Ltd &lt;BLLA.S> said it now\nholds 14.9 pct of the issued capital of Standard Chartered Plc\n&lt;STCH.L> after acquiring further shares.\n    The one-sentence statement from Bell\'s headquarters\nconfirmed what its brokers Warburg Securities told Reuters in\nLondon yesterday.\n    Bell previously held 10 pct of Standard.\n    Bell chairman Robert Holmes a Court, who is also a director\nof Standard, was not available for comment on his company\'s\nintentions in boosting its holding and other company officials\ncontacted here by Reuters declined to comment.\n REUTER\n&#3;',0
'NIPPON STEEL DENIES CHINA SEEKING JAPANESE PLANTS Nippon Steel Corp &lt;NSTC.T> denied local\nnewspaper reports that China has been seeking to buy steel\nplants from Japanese firms which plan to suspend output under\nthe recently announced rationalisation program.\n    The Mainichi Shimbun quoted Nippon Steel as saying that\nChina\'s State Planning Commission and some Chinese firms have\nasked Japanese makers to sell them steel works and rolling\nmills to expand steelmaking cheaply. It named no sources.\n    A Nippon Steel spokesman told Reuters that China has made\nno such official request, and the company was not considering\nsuch sales at the moment.\n    But Mainichi quoted Nippon Steel officials as saying if\nprices are reasonable, they would export their used mills to\nChina.\n    The paper said China\'s crude steel output totalled 52 mln\ntonnes in calendar 1986 and that it plans to increase to 80 mln\nby 1996.\n    Japan\'s steel industry rationalisation plan is aimed at\ncutting production capacity sharply over the next few years.\n REUTER\n&#3;',0
'JARDINE MATHESON REPLACES \"B\" SHARE BY BONUS ISSUE Jardine Matheson Holdings Ltd\n&lt;JARD.HK> said it will withdraw the previously announced\nfour-for-one bonus issue of \"B\" shares and replace it by a\ntwo-for-five bonus issue of ordinary shares.\n    A statement said the firm expects to pay total dividends\nfor 1987 of not less than 40 cents a share on the expanded\ncapital.\n    Jardine Matheson decided to withdraw its issue because of a\njoint announcement earlier today by Ronald Li, chairman of the\nStock Exchange of Hong Kong, and Securities Commissioner Ray\nAstin, that the listings of new \"B\" shares would be barred.\n    The official announcement said this will include the\nproposal by Jardine Matheson.\n    But the Jardine statement quoted chairman Simon Keswick as\nsaying: \"We continue to believe that the issuing of \"B\" shares\nwould benefit shareholders, and regret that they will not be\ngiven the opportunity to vote on the matter at this stage.\"\n    Keswick said the \"B\" share issue will benefit Jardine\nMatheson\'s shareholders by giving the firm flexibility to issue\nordinary shares for expansion in future without diluting\nexisting shareholders\' voting rights.\n    However, he added: \"We certainly welcome (the Secretary for\nMonetary Affairs) David Nendick\'s referral of this very\nimportant matter to the Standing Committee on Company Law\nReform and are hopeful that the process will lead to the\ndevelopment of general principles which can be embraced by all\nconstituents of the Hong Kong market.\"\n REUTER\n&#3;',0
'JAPAN GIVEN LITTLE HOPE OF AVOIDING U.S. SANCTIONS A top U.S. Official said Japan has little\nchance of persuading the U.S. to drop threatened trade\nsanctions, despite the efforts of a Japanese team that left for\nWashington today.\n    Michael Armacost, Under Secretary of State for Political\nAffairs, was asked at a press conference whether Japan\'s moves\nto boost its domestic economy and open its markets could\npersuade the U.S. Not to impose tariffs on Japanese imports\nsaid, and replied: \"...It is probably too early for the figures\nto demonstrate that the situation has turned around and to\npermit the result you have described.\"\n    Armacost said the U.S. Hopes Japan will take steps to lift\nits domestic economy and reduce dependence on exports, remove\nbarriers to imports and settle outstanding trade issues.\n    \"There are obvious problems at the moment in the trade area,\nbut we do not wish those problems to divert attention from\nimportant areas of cooperation that continue to exist on\nsecurity and political issues,\" he said.\n    \"The question is whether through cooperative actions between\nour governments we can reduce the (trade) imbalance or whether\nCongress takes action to reduce it through protectionist\nlegislation,\" he said.\n REUTER\n&#3;',0
'BANK OF JAPAN INTERVENES SOON AFTER TOKYO OPENING The Bank of Japan bought a small amount of\ndollars shortly after the opening at around 145.30 yen, dealers\nsaid.\n    The central bank intervened as a medium-sized trading house\nsold dollars, putting pressure on the U.S. Currency, they said.\n    The dollar was also supported by a major electrical\nconsumer goods company, which was a speculative dollar buyer at\naround 145.25 yen, they added.\n    The dollar opened at 145.33 yen against 145.60/70 in New\nYork and 145.25 at the close here yesterday.\n REUTER\n&#3;',0
'INDONESIAN INFLATION RATE 8.8 PCT IN 1986/87 Inflation was by 8.8 pct in Indonesia\nduring fiscal 1986/87 to March 31, compared to 5.66 pct the\nprevious year, Information Minister Harmoko said after a\ncabinet session to discuss the economic situation.\n REUTER\n&#3;',0
'U.K. MONEY MARKET GIVEN 53 MLN STG ASSISTANCE The Bank of England said it provided the\nmoney market with 53 mln stg assistance in the morning session.\n    This compares with the bank\'s estimate of a shortage in the\nsystem of around 300 mln stg which it earlier revised up from\n250 mln.\n    The central bank made outright purchases of bank bills\ncomprising 46 mln stg in band three at 9-3/4 pct and seven mln\nstg in band four at 9-11/16 pct.\n REUTER\n&#3;',0
'SAN MIGUEL DEAL HIT BY MORE LAWSUITS A bid by San Miguel Corp (SMC) &lt;SANM.MN>\nto buy back 38.1 mln sequestered shares from United Coconut\nPlanters Bank (UCPB) has been hit by two new lawsuits, sources\nin the Philippine food and brewery company said.\n    A Manila court yesterday issued an injunction barring UCPB\nfrom selling the shares, which represent 31 pct of SMC\'s\noutstanding capital stock of 121 mln shares, until hearings on\nApril 21 on a petition filed by Eduardo Cojuangco, a former\nchairman of both SMC and UCPB.\n    Cojuangco said the Coconut Industry Investment Fund (CIIF)\nand 1.4 mln farmers were the rightful owners of the shares.\n    Cojuangco said the shares were held in trust by UCPB and\nrepresented a blue chip investment. His petition said UCPB\'s\nplans to sell the shares to SMC were \"a serious breach of\nfiduciary duties.\"\n    The SMC sources said the proposed share sale could also be\nheld up by a second derivative suit filed before the Securities\nand Exchange Commission (SEC) by Eduardo de los Angeles, a\ngovernment nominee on the company\'s board.\n    De los Angeles, who represents SMC\'s minority stockholders,\nasked the SEC to block the transaction, approved last week by\nthe company\'s board.\n    On April 2 the board sanctioned the repurchase of the\nsequestered shares for 4.79 billion pesos at 126 pesos per\nshare. De los Angeles told the SEC the company\'s retained\nearnings of 1.33 billion pesos would be wiped out by the\npurchase of the shares and would prevent the declaration of\ndividends.\n    De los Angeles said the share purchase would also violate\nan SMC agreement with its creditors to maintain a 2.2-to-1 debt\nto equity ratio. He quoted SMC\'s chief financial director Ramon\ndel Rosario as telling the board that the transaction would\nboost the ratio to 2.5-to-1.\n    In petitioning the SEC, de los Angeles amended an earlier\nsuit two weeks ago in which he charged SMC Chairman Andres\nSoriano III and nine other directors of violating their duties.\n    De los Angeles\' earlier complaint related to SMC assuming\nlast December a 26.5 mln dlr loan contracted by SMC\'s Hong Kong\nsubsidiary &lt;Neptunia Corp> for a down payment on the shares.\nThe loan assumption was again ratified by last week\'s board\nmeeting.\n    An arbitration panel set up by President Corazon Aquino to\nresolve the ownership issue is expected to submit its report by\nApril 15.\n    \"The amended suit filed by Eduardo de los Angeles is part of\na continuing attempt by certain elements, in complete disregard\nof the facts and with questionable motives, to delay an early\ndisposition of the sequestered shares,\" San Miguel Corp said in\na statement.\n    \"Coming as it does, when San Miguel Corp and UCPB have\nreached agreement on the price of the shares and the method of\npayment, this suit is in direct contravention of the\ngovernment\'s expressed desire to reach an amicable settlement\nof the controversy by April 15,\" the statement added.\n    A San Miguel spokesman said he had no comment on\nCojuangco\'s court petition, adding: \"Any statement coming from\nus might be interpreted as adversarial.\"\n    Meanwhile, Ramon Diaz, the head of a government panel which\nsequestered the shares last year, said Soriano was not eligible\nto buy the major portion of the shares because he was a United\nStates citizen.\n    The sequestered shares are split into 24 mln \"A\" shares,\nwhich can only be owned by Filipinos, and 14 mln \"B\" shares which\nare available to foreign buyers.\n    SMC sources said Soriano personally was not among\nprospective buyers. They said the shares would be purchased by\nthe &lt;A.Soriano> group of companies, SMC, Neptunia and unnamed\ninstitutional investors. Soriano was named as one of the buyers\nin a bid in March 1986 for 33 mln shares controlled by UCPB.\n    The sale was aborted when Diaz\'s Presidential Commission on\nGood Government sequestered the shares on suspicion they were\nowned by Cojuangco, a close associate of former President\nFerdinand Marcos. Cojuangco lives in self-imposed exile in the\nU.S.. The shares grew to 38.1 mln after a 15 pct stock dividend\nannounced last June.\n    \"We have no objection to Soriano buying the \"B\" shares,\" Diaz\ntold Reuters. \"But everything is on hold now.\"\n    The SMC spokesman said he did not know if the controversy\nwould be resolved before the company\'s annual stockholders\'\nmeeting, scheduled for May 14.\n    San Miguel Corp reported sales revenue of 12.2 billion\npesos in 1986, 11 pct above its 10.9 billion peso sales in\n1985. It said unaudited net profit was in the neighbourhood of\n700 mln pesos, an increase of about 50 pct over 1985.\n REUTER\n&#3;',0
'RAIN BOOSTS CENTRAL QUEENSLAND SUGAR CANE CROP Good rains of one to four inches in the\npast 10 days have boosted moisture-stressed sugar cane crops in\nthe Mackay-Burdekin region of Queensland\'s central coast, an\nAustralian Sugar Producers\' Association spokesman said.\n    As previously reported, the region has been undergoing a\nsevere dry spell, partly relieved by scattered rainfall, since\nDecember, following the virtual failure of the summer wet\nseason.\n    Mills in the area have been reporting that their crops are\nbeginning to look healthy and greener and are putting on growth\nsince the rains began, the spokesman said from Brisbane.\n    Although the Mackay-Burdekin crop outlook is much better\nthan it was, there will be some cane losses, the spokesman\nsaid. But is too early to say what they will be and more rain\nis needed to restore sub-soil moisture.\n    Elsewhere, in far north Queensland, the Bundaberg region\nand southern Queensland, the cane is in excellent condition and\nsome mills are forecasting record crops, he said.\n    Initial 1987 crop estimates will probably be compiled\ntowards the end of May, he said.\n    The cane crush normally runs from June to December.\n REUTER\n&#3;',0
'FRENCH TRADERS FORECAST EC SUGAR TENDER The European Community (EC) is expected to\naward export licences at today\'s weekly tender for above 60,000\nand possibly up to 100,000 tonnes of white sugar after last\nweek\'s award for 102,350 tonnes, traders here said.\n    They expected a maximum rebate of between 46.40 and 46.50\nEcus per 100 kilos, compared to last week\'s 46.864.\n    Earlier, traders in London said the outcome of the tender\nwas very hard to predict after last week\'s substantial award\nand the placing of 785,000 tonnes of sugar into intervention.\nThey said they believed the tonnage would be around 60,000 but\ndeclined to give a rebate figure.\n REUTER\n&#3;',0
'ITALY\'S LA FONDIARIA TO REPORT HIGHER 1986 PROFITS Italian insurer La Fondiaria Spa &lt;LFDI.MI>\nsaid it expects to report consolidated group profit in 1986\nsignificantly higher than the 60 billion lire reported in 1985.\n    The company said in a statement that parent company net\nprofit last year will rise from the 72 billion lire reported in\n1985. Consolidated group premiums totaled 1,700 billion lire in\n1986 compared with 1,490 billion the previous year.\n    Iniziativa Meta &lt;INZI.MI>, the financial services unit of\nMontedison Spa &lt;MONI.MI>, controls the largest single stake in\nFlorence-based Fondiaria with 49.9 pct.\n REUTER\n&#3;',0
'NICKEL PRICES UNLIKELY TO RISE MUCH - SHEARSON Nickel prices are unlikely to rise\nsignificantly from current levels unless further steps are\ntaken to reduce production, Shearson Lehman Brothers said in\nits quarterly nickel market report.\n    The market had recovered slightly to around 1.72 dlrs a lb\nyesterday from its four year low of 1.55 dlrs in early January,\ndue to the absence of Soviet nickel cathode deliveries, but\nShearson sees Soviet shipments soon returning to last year\'s\nbuoyant levels, which should ease current tightness.\n    Output reductions by producers will take effect later this\nyear but are likely to be offset by increases elsewhere.\n    Shearson said the nickel market will be virtually in\nbalance during 1987, with total non-Socialist world demand at\n556,000 tonnes, compared with an estimated 544,000 tonnes in\n1986, production at 505,000 tonnes (504,000) and imports from\nSocialist countries at 47,000 tonnes (50,000).\n    It forecast prices will edge higher during the year from a\nfirst quarter average of 1.67 dlrs a lb up to 1.77 dlrs in the\nlast quarter. The year\'s average will be around 1.72 dlrs a lb\ncompared with 1.76 dlrs in 1986, using London Metal Exchange\ncash metal prices in dollar terms and assuming an average 1987\nsterling exchange rate of 1.55 dlrs.\n REUTER\n&#3;',0
'HIGHER 1986 PROFIT FOR DUTCH CHEMICAL FIRM DSM The fully state-owned Dutch\nchemical firm NV DSM &lt;DSMN.AS> said its 1986 net profit rose to\n412 mln guilders from 402 mln in 1985, while turnover fell to\n17.7 billion guilders in 1986 from 24.1 billion in 1985.\n    The company said 1986 dividend, which will be paid to the\nDutch state in its capacity of the firm\'s sole shareholder,\nwould be raised to 98 mln guilders from 70 mln guilders in\n1985.\n    In an initial comment on its 1986 results, DSM said the\ndrop in 1986 turnover had been caused mainly by losses in the\ncompany\'s fertilizer division.\n REUTER\n&#3;',0
'POEHL WARNS AGAINST FURTHER DOLLAR FALL Bundesbank President Karl Otto Poehl\nsaid a weaker dollar would be risky and a further appreciation\nof the mark would damage prospects for sustained West German\neconomic growth.\n    In a speech to the Institute of Contempory German Affairs\nhere, Poehl said \"It would be an extremely risky policy to aim\nfor a further substantial decline in the value of the dollar to\ncorrect the trade deficit.\"\n    He said the United States could face a vicious circle of\ndepreciation, inflation and more depreciation if it took that\nroute.\n    Poehl noted West Germany had already taken steps to meet\nU.S. Demands for greater stimulation of its domestic economy,\naccelerating tax cuts, cutting interest rates and tolerating\nabove-target money supply growth.\n    He said he would have been happy to have brought forward\nfive billion marks of tax cuts now planned for January 1988 to\nthe beginning of this year, but he said the government faced\npolitical constraints getting such measures through the upper\nhouse of the West German parliament.\n    But there were also limits to the impact West Germany could\naccept on exports from a rising mark, he said.\n    Poehl said West Germany relied on exports for about\none-third of its gross national product, so a substantial\nerosion of export markets could not be offset by increasing\ndemand at home.\n    \"A further appreciation of the mark could even be an\nobstacle to further growth,\" he said.\n    Poehl said the Bundesbank had tolerated rapid money supply\ngrowth last year because the country enjoyed low inflation and\nbecause external factors, including low oil prices and\nfavourable terms of trade, had given some extra leeway.\n    But Poehl said West Germany now faced a difficult dilemma\nover monetary policy.\n    The underlying rate of inflation was now two pct, not the\nreported negative inflation rates last year, and West Germany\nwas affected more than before by exchange rate developments.\n    \"For the time being, we will have to focus our policy more\non the external side, and we can live with a more expansionary\nmoney supply. But we must be very careful,\" he said.\n    He said he shared some of the U.S. Concern about Japan\'s\ntrade surpluses, which affected European countries as well as\nthe United States.\n    Poehl welcomed the so-called Louvre accord of monetary\nofficials of major industrialized countries, saying the\nimportance of the February 22 agreement to stabilize exchange\nrates had been underestimated.\n    All partners had agreed that the dollar was at about the\nright level, and that further changes would damage growth, he\nsaid.\n    \"This was a remarkable change in attitude, especially on the\npart of our American colleagues,\" he said.\n    But he said there was still a danger that the correction of\nthe dollar\'s value could overshoot.\n REUTER\n&#3;',0
'CINCINNATI BELL &lt;CSN> STARTS AUXTON &lt;AUXT> BID Cincinnati Bell Inc said it has started\nits previously-announced 15.75 dlr per share tender offer for\nall shares of Auxton Computer Enterprises Inc.\n    In a newspaper advertisement, the company said the tender\nand withdrawal rights will expire May Five unless extended. The\noffer, which has been approved by the Auxton board and is to be\nfollowed by a merger at the same price, is conditioned on\nreceipt of a majority of Auxton\'s voting stock on a fully\ndiluted basis.\n Reuter\n&#3;',0
'CALIFORNIA BIOTECH &lt;CBIO> SEES 1ST QTR LOSS California Biotechnology\nInc said it expects to report a loss of 1,300,000 dlrs to\n1,600,000 dlrs for the first quarter due to increased\ninvestment in research and manufacturing and a scaleup of\nproduction.\n    The company said research spending is running 50 to 60 pct\nabove a year ago as it tries to commercialize its products as\nquickly as possible, and increased expenditures are expected to\ncontinue for several more quarters.  It said operating results\nwill fluctuate quarter to quarter, depending on the timing of\nsignificant payments from commercial partners.\n    In the first three months of 1986, the company lost 150,000\ndlrs.  The company changed its fiscal year in 1986 to a\ncalendar year from a year ending November 30.  For the first\nquarter of last year, ended February 28, California Biotech\nearned 114,000 dlrs.\n Reuter\n&#3;',0
'PALL CORP &lt;PLL> SETS QUARTERLY DIVIDEND Qtly div 8-1/2 cts vs 8-1/2 cts prior\n    Pay May One\n    Record April 20\n Reuter\n&#3;',0
'UNILEVER SEEKS BUYER FOR STAUFFER CHEMICAL Unilever Plc and NV &lt;UN.AS> has issued a\nprospectus through investment bankers Goldman Sachs and Co\nseeking a buyer for &lt;Stauffer Chemical Co> of the U.S., Which\nit acquired with the recent takeover of &lt;Chesebrough-Pond\'s\nInc>, a Unilever spokesman said.\n    He noted Unilever has been indicating plans to dispose of\nStauffer, plus some smaller assets of Chesebrough, since the\nbid was made in December.\n    The Stauffer sale prospectus has been sent in recent weeks\nto a number of companies expressing interest.\n    The Unilever spokesman declined to say how much the group\nexpected to receive for Stauffer.\n    Chesebrough\'s footwear and tennis racket businesses are\nalso likely to be disposed of, he added.\n    Immediately available financial information on Stauffer,\nwhich is wholly-owned, was limited, he added. Nine month sales\nto September 1986 were about 1.2 billion dlrs.\n    Unilever aquired Chesebrough for 3.2 billion dlrs in order\nto benefit from its well-known toiletry brands and food\nproducts.\n Reuter\n&#3;',0
'CONRAC CORP SAID IT HAS ENTERED TALKS ON ITS ACQUISITION WITH SEVERAL PARTIES\n ',0
'CONRAC &lt;CAX> IN MERGER TALKS WITH SEVERAL Conrac Corp sait has started\nnegotiations with several interested parties on its possible\nacquisition.\n    It said there can be no assurance that any transaction will\nresult from the talks.  It gave no further details.\n    Mark IV Industries Inc &lt;IV> started tendering for all\nConrac shares at 25 dlrs each on March 24 and owned 9.9 pct of\nConrac before starting the bid.\n    Conrac is a producer and marketer of computer-related\ninformation display and communications equipment which also\nproduces special purpose architectural and industrial products.\n    It owns Code-A-Phone Corp, a producer of telephone\nanswering machines.\n    For 1986, the company reported profits of 7.8 mln dlrs, or\n1.16 dlrs a share, on sales of 153.9 mln dlrs. It has nearly\n6.8 mln shares outstanding.\n Reuter\n&#3;',0
'JAPAN\'S LDP URGES MORE IMPORTS OF 12 FARM ITEMS The ruling Liberal Democratic Party (LDP)\nhas proposed expanding imports of 12 farm products named in a\nU.S. Complaint against Japan to the General Agreement on\nTariffs and Trade last year, an LDP official said.\n    The products include fruit juices, purees and pulp, some\ntomato products, peanuts, prepared beef products and beans.\n    The proposal will be used as the basis for a more detailed\nLDP economic package to cut the trade surplus with the U.S. The\nparty is expected to formalise the package before April 19,\nwhen LDP General Council Chairman Shintaro Abe visits\nWashington.\n Reuter\n&#3;',0
'COMPUTER RESEARCH INC &lt;CORE> 2ND QTR FEB 28 NET Shr 14 cts vs nine cts\n    Net 217,572 vs 153,454\n    Revs 2,530,273 vs 2,558,924\n    1st half\n    Shr 19 cts vs 11 cts\n    Net 299,838 vs 174,739\n    Revs 4,865,249 vs 4,495,021\n Reuter\n&#3;',0
'AUSTRALIAN FOREIGN SHIP BAN ENDS Tug crews in New South Wales (NSW),\nVictoria and Western Australia yesterday lifted their ban on\nforeign-flag ships carrying containers but NSW ports are still\nbeing disrupted by a separate dispute, shipping sources said.\n    The ban, imposed a week ago over a pay claim, had prevented\nthe movement in or out of port of nearly 20 vessels, they said.\nThe pay dispute went before a hearing of the Arbitration\nCommission today.\n    Meanwhile, disruption began today to cargo handling in the\nports of Sydney, Newcastle and Port Kembla, they said.\n    The industrial action at the NSW ports is part of the week\nof action called by the NSW Trades and Labour Council to\nprotest changes to the state\'s workers\' compensation laws.\n Reuter\n&#3;',0
'RUBBERMAID INC 1ST QTR SHR 28 CTS VS 22 CTS\n ',0
'INDEPENDENT CHAIRMAN FOR DUTCH CARGO DISPUTE The two sides in the Rotterdam port\ngeneral cargo dispute have agreed to appoint an independent\nchairman, Han Lammers, to preside over future meetings,\nemployers\' spokesman Gerard Zeebregts said.\n    Lammers, Queen\'s Commissioner for the province of\nFlevoland, will not act as a mediator but will draw up an\nagenda and procedures for meetings between the employers and\nunions on a work-practice agreement and proposed redundancies.\n    Two months of strikes in the sector began on January 19 in\nprotest at employers\' proposals for 350 redundancies from the\n4,000-strong workforce this year.\n    The strikes were called off by the main port union FNV on\nMarch 13 following an Amsterdam court\'s interim injunction\nagainst the redundancies on procedural grounds.\n    The court is due to make a final ruling on May 7 but\nZeebregts said he expected the judgment to go against the\nemployers and they were therefore very likely to restart the\ncomplicated legal redundancy procedures in the near future.\n    Meanwhile, the dispute over a new work-practice agreement\nin the port\'s grain sector continued, with 30 maintenance\nworkers on strike, although loading was not affected, a\nspokesman for Graan Elevator Mij, the largest employer in the\nsector, said.\n    The employers have written to the union asking it to\nreconsider its position and a meeting of union members has been\ncalled for tomorrow.\n Reuter\n&#3;',0
'ELECTRO RENT CORP &lt;ELRC> 3RD QTR FEB 28 NET Shr 20 cts vs 32 cts\n    Net 1,358,000 vs 2,476,000\n    Revs 27.1 mln vs 26.2 mln\n    Avg shrs 6,852,000 vs 7,764,000\n    Nine mths\n    Shr 68 cts vs 1.05 dlrs\n    Net 4,957,000 vs 8,129,000\n    Revs 82.6 mln vs 78.8 mln\n    Avg shrs 7,316,000 vs 7,754,000\n Reuter\n&#3;',0
'RUBBERMAID INC &lt;RBD> 1ST QTR NET Shr 28 cts vs 22 cts\n    Net 20.6 mln vs 16.1 mln\n    Sales 238.0 mln vs 188.8 mln\n Reuter\n&#3;',0
'WTC INTERNATIONAL INC &lt;WAF> 4TH QTR FEB 28 NET Shr profit 13 cts vs loss 33 cts\n    Net profit 1,149,000 vs loss 2,833,000\n    Rev 51.8 mln vs 47.8 mln\n    Year\n    Shr profit 24 cts vs loss 18 cts\n    Net profit 2,050,000 vs loss 1,551,000\n    Rev 200.6 mln vs 180.1 mln\n Reuter\n&#3;',0
'U.K. MONEY MARKET GIVEN FURTHER 166 MLN STG HELP The Bank of England said it provided the\nmarket with further help totalling 166 mln stg during the\nafternoon.\n    In band one, it bought 31 mln stg of treasury bills and\nthree mln stg of bank bills at 9-7/8 pct, while in band two it\nbought 69 mln stg of bank bills at 9-13/16 pct. In addition, it\nbought 63 mln stg of band three bank bills at 9-3/4 pct.\n    This brings the total assistance by the Bank so far today\nto 219 mln stg against a liquidity shortage it has estimated at\naround 300 mln stg.\n REUTER\n&#3;',0
'MEAD CORP 1ST QTR OPER SHR 1.09 DLRS VS 67 CTS\n ',0
'RUBBERMAID &lt;RBD> SEES CONTINUED IMPROVEMENT Rubbermaid Inc said its incoming\norder rates continue strong and it expects to continue\nrecording favorable year to year comparisons in each remaining\nquarter of 1987.\n    Today the company reported first quarter earnings of 20.6\nmln dlrs on sales of 238.0 mln dlrs, up from earnings of 16.1\nmln dlrs on sales of 188.8 mln dlrs.\n Reuter\n&#3;',0
'CAYUGA SAVINGS BANK &lt;CAYB> 1ST QTR NET Shr 55 cts vs 41 cts\n    Net 494,000 vs 204,000\n    Avg shrs 896,655 vs 494,155\n Reuter\n&#3;',0
'JOHNSTOWN SAVINGS BANK FSB &lt;JSBK> 1ST QTR NET Shr 33 cts vs not given\n    Net 642,484 vs 362,883\n    NOTE: Company went public in October 1986.\n    Net includes pretax loan loss provisions of 90,000 dlrs vs\n56,250 dlrs and gain on sale of securities of 113,432 dlrs vs\n88,946 dlrs.\n Reuter\n&#3;',0
'HOME SAVINGS AND LOAN ASSOCIATION INC &lt;HSLD> 2nd qtr March 31\n    Shr 57 cts vs not given\n    Net 790,874 vs 628,020\n    1st half\n    Shr 1.15 dlrs vs not given\n    Net 1,588,985 vs 1,073,163\n    NOTE: Company recently went public.\n Reuter\n&#3;',0
'GEODYNAMICS CORP &lt;GDYN> 3RD QTR FEB 27 NET Shr 21 cts vs 20 cts\n    Net 596,000 vs 594,000\n    Revs 8,693,000 vs 8,164,000\n    Nine mths\n    Shr 61 cts vs 58 cts\n    Net 1,784,000 vs 1,653,000\n    Revs 26.3 mln vs 23.0 mln\n Reuter\n&#3;',0
'SWEDISH UNEMPLOYMENT STEADY IN MARCH Swedish unemployment was steady at 2.2\npct of the workforce in March compared with the previous month,\nthe Central Bureau of Statistics said.\n    In March 1986, the figure stood at 2.4 pct.\n REUTER\n&#3;',0
'COMPAQ &lt;CPQ> EXPECTS HIGHER FIRST QUARTER NET Compaq Computer Corp said it expects\nsales and earnings for the first quarter of 1987 to be higher\nthan analysts expectations due to strong demand for its\nproducts.\n    Rod Canion, president and chief executive officer of\nCompaq, said he expects sales of over 200 mln dlrs for the\nperiod ending March 31, above analysts\' estimates of 165-185\nmln dlrs. He added that earnings per share would exceed\nanalysts estimates of as high as 42 cts a share.\n    Compaq reported earnings of 8.3 mln dlrs, or 30 cts a\nshare, and sales of 144 mln dlrs for the first quarter 1986.\n    The company said demand for its DESKPRO 386, PORTABLE III\nand the new COMPAQ DESKPRO 286 will contribute to the sales\nincrease.\n    \"The initial demand for the recently introduced COMPAQ\nPORTABLE III and the new models of the COMPAQ DESKPRO 286\nexceeds that of any other Compaq personal computers,\" Canion\nsaid. \"We saw continued demand for our personal computers\nacross the quarter, with March (1987) being a particularly\nstrong month.\n Reuter\n&#3;',0
'I.U. INTERNATIONAL &lt;IU> TO SELL INSURANCE UNITS I.U. International Co said it\nreached a preliminary agreement to sell the Hawaiian Insurance\nCos to Hawaiian Electric Industries Inc. &lt;HE>.\n    Terms of the transaction were not disclosed, the company\nsaid.\n    The transaction is subject to the execution of definitive\nagreements, certain governmental approvals and approvals by the\nboards of directors involved, I.U. International said.\n    Hawaiian Electric said the planned purchase was part of its\nstrategy to increase the company\'s investment in selected\nservice industries in Hawaii, including financial services.\n Reuter\n&#3;',0
'CXR TELCOM CORP &lt;CXRL> 3RD QTR MARCH 31 NET Shr nil vs nil\n    Net 215,000 vs 16,000\n    Revs 2,800,000 vs 1,100,000\n    Nine mths\n    Shr one ct vs nil\n    Net 620,000 vs 231,000\n    Revs 8,100,000 vs 2,100,000\n Reuter\n&#3;',0
'PROXMIRE OUTLINES INSIDER TRADING LEGISLATION Senate Banking Committee Chairman\nWilliam Proxmire (D-Wis) said he planned to introduce\nlegislation shortly to require greater public disclosure of\ncorporate takeovers and fairer treatment for all shareholders.\n    Speaking to the National Association of Manufacturers,\nProxmire said recent insider trading stock scandals increased\nthe chance that Congress will act to curb abuses.\n    \"We are proposing legislation that would provide for more\ndisclosure, would be fairer to all shareholders, and would\ninsure that takeovers are properly financed,\" he said.\n    Among the provisions, the bill would reduce the threshold\nfor notifying the Securities and Exchange Commission that a\ninvestor or group has acquired a percentage of stock in a\ncompany to three pct from the current five pct threshold within\n10 days, Proxmire said.\n    In addition, there would be a pre-notificaton requirement\nthat an investor intended to aquire three pct that would have\nto filed with the SEC.\n    Proxmire said the pre-notification requirement was meant to\nprevent arbitragers from having a jump on the general public in\nknowing about coming takeover attempts.\n    Proxmire said he would call for extending the period that a\ntender offer must be kept open under the Williams Act to 60\nbusiness days from the current 20 business days.\n    His bill would provide for private suits if the acquiring\ncompany violated the time period on the tender offer.\n    To correct abuses in the financing of takeovers, Proxmire\nsaid the legislation would aim at insuring current margin\nrequirments are properly enforced.\n    The Federal Reserve Board has a 50 pct margin requirement\nfor purchasing stock, but Proxmire said it is not generally\nenforced in hostile takeovers.\n    Rather, the groups or individuals leading a takeover\ndeclare that they can raise the capital for a takeover without\nactually putting any of their own money, Proxmire said.\n    He said his bill would allow private suits for damages for\nfailure to meet the Federal Reserve\'s 50 pct margin\nrequirements.\n    The bill also would require more disclose when several\ninvestors form an alliance in a hostile takeover.\n    \"When Pickens and Icahn get together we want people to know\nabout it,\" Proxmire said.\n    Proxmire said he favored the approach used in Britain\ntowards two-tiered tender offers that insures that all\nshareholders recieve equal treatment.\n    He said he expected amendments to the bill also would cover\ndefensive mechanisms such as green mail and poison pills.\n    Proxmire said he intended to introduce his bill later this\nmonth and predicted the Senate committee would act this spring.\n    He said he was hopeful Congress could pass a bill this\nyear.\n Reuter\n&#3;',0
'HELEN OF TROY CORP &lt;HELE> 4TH QTR FEB 28 NET Shr 17 cts vs 13 cts\n    Net 598,000 vs 392,000\n    Sales 10.2 mln vs 7,474,000\n    Avg shrs 3,432,000 vs 3,045,000\n    Year\n    Oper shr profit 1.05 dlrs vs loss 47 cts\n    Oper net profit 3,498,000 vs loss 1,427,000\n    Sales 52.2 mln vs 40.8 mln\n    Avg shrs 3,320,000 vs 3,060,000\n    NOTE: Latest year net excludes 782,000 dlr tax credit.\n Reuter\n&#3;',0
'BANKERS TRUST &lt;BT> PUTS BRAZIL ON NON-ACCRUAL Bankers Trust New York Corp said it has\nplaced its approximately 540 mln dlrs of medium- and long-term\nloans to Brazil on non-accrual status and that first-quarter\nnet income will be reduced by about seven mln dlrs as a result.\n    Brazil suspended interest payments on its 68 billion dlrs\nof medium- and long-term debt on February 22.\n    U.S. banking regulations do not require banks to stop\naccruing interest on loans until payments are 90 days overdue,\nbut Bankers Trust said it acted now because of \"the high\npotential of a continued suspension that would result in\nreaching the 90-day limit in the second quarter of 1987.\"\n    Assuming no cash payments at current interest rates are\nreceived for the rest of 1987, Bankers Trust estimated that\nfull-year net income would be reduced by about 30 mln dlrs.\n    Bankers Trust said it assumes that debt negotiations\nbetween Brazil and its commercial bank lenders will lead to the\nresumption of interest payments.\n    The negotiations resume in New York on Friday when central\nbank governor Francisco Gros is expected to ask banks for a\n90-day rollover of some 9.5 billion dlrs of term debt that\nmatures on April 15.\n Reuter\n&#3;',0
'&lt;FIRST MERCANTILE CURRENCY FUND INC> 1ST QTR NET Shr profit 63 cts vs 22 cts\n    Net 775,868 vs 276,446\n    Revs 2,255,742 vs 706,130\n Reuter\n&#3;',0
' UK INTERVENTION BD SAYS EC SOLD 118,350 TONNES WHITE SUGAR AT REBATE 46.496 ECUS.\n ',0
'STOLTENBERG SEES MOVES TO STRENGTHEN PARIS ACCORD West German Finance Minister Gerhard\nStoltenberg said today\'s meetings of major industrial countries\nwould look at ways of strengthening the Paris accord on\nstabilizing foreign exchange rates.\n    Stoltenberg told journalists he saw no fundamental weakness\nof the February 22 agreement of the Group of Five countries and\nCanada to keep exchange rates near the then-current levels.\n    But he declined to say what measures would be discussed\nahead of a communique of the Group of Seven ministers later\ntoday.\n    Stoltenberg and Bundesbank President Karl Otto Poehl said\nthe importance of the Paris agreement, also known as the Louvre\naccord, had been underestimated.\n    Stoltenberg said there is greater agreement now among major\ncountries than six months ago, at the time of the annual\nmeeting of the International Monetary Fund and World Bank,\nmarked by sharp discord between the United States and its major\ntrading partners.\n    \"There is no fundamental weakness of the Paris accord,\" he\nsaid. \"We will be looking at ways of strengthening it, but I do\nnot want to discuss that here.\n    Stoltenberg said the Louvre agreement was working despite a\n\"slight firming\" of the yen against the dollar.\n    And Poehl noted that the dollar/mark parity was unchanged\nsince February 22 without the Bundesbank having had to sell\nmarks to support the dollar.\n    \"The Louvre agreement has been honored by the market,\" he\nsaid.\n    Poehl said West Germany had lived up to its side of the\nbargain in Paris by preparing the way for tax cuts to be\naccelerated as a way of stimulating growth.\n    Poehl said, however, that Japan had not yet fulfilled its\npledges for economic stimulation.\n    \"And we will have to see if the United States is able to do\nwhat they promised in Paris on reducing the budget deficit --\nand get it through Congress,\" he added.\n    Stoltenberg reiterated West German concern about a further\nfall in the dollar, noting that the mark was up 85 pct against\nthe dollar and nearly 20 pct on a trade-weighted basis.\n    \"You cannot expect that to go unnoticed in an economy. And\nit is not just a German problem, it is a European problem,\" he\nsaid.\n REUTER\n&#3;',0
'U.K. INTERVENTION BOARD DETAILS EC SUGAR SALES A total 118,350 tonnes of current series\nwhite sugar received export rebates of a maximum 46.496\nEuropean Currency Units (Ecus) per 100 kilos at today\'s\nEuropean Community (EC) tender, the U.K. Intervention Board\nsaid.\n    Out of this, traders in the U.K. Received 37,800 tonnes, in\nFrance 34,500, in West Germany 20,000, in Belgium 18,500, in\nSpain 5,800 and in Denmark 1,750 tonnes, it added.\n    Earlier today, London traders had declined to give a\nprojected view on the level of subsidy although some said total\ntonnage awards would be around 60,000 tonnes.\n    Paris traders foresaw between 60,000 and 100,000 tonnes\nbeing authorised for export at a 46.40/46.50 Ecu subsidy.\n    Cumulative sales authorisations for the current season\n(1986/87) now stand at 2,194,970 tonnes (43 weeks).\n    Last week saw 102,350 tonnes whites authorised for export\nunder licences to end-Sep at the higest ever rebate of 46.864\nEuropean Currency Units (Ecus) per 100 kilos.\n REUTER\n&#3;',0
'MEAD &lt;MEA> EXPECTS IMPROVED EARNINGS THIS YEAR Mead Corp said the outlook for its\nmajor paper markets looks strong for the second quarter and\naugurs well for its earnings in 1987.\n    \"The generally strong outlook bodes well for significantly\nimproved earnings this year,\" Burnell Roberts, chairman and\nchief executive officer said.\n    Earlier, the company reported first quarter earnings of\n34.2 mln dlrs, or 1.09 dlrs a share, versus 20.3 mln dlrs, or\n65 cts a share, in last year\'s first quarter.\n    In 1986 the company reported earnings from continuing\noperations of 109.3 mln dlrs, or 3.50 dlrs a share.\n    Mead said its first quarter benefitted from stronger market\nconditions and improved operations.\n    \"The combination of capital improvement programs and more\nemployee involvement has been paying off throughout our paper\noperations,\" Roberts said.\n    He added that Mead\'s pulp and paperboard businesses are\noperating well as prices have improved and strong demand has\nplaced most products in a sold-out position through the middle\nof the year.\n    Mead said sales of its unbleached coated paperboard was\nparticularly strong, up 13 pct versus the first quarter 1986.\n Reuter\n&#3;',0
'AMERTEK INC &lt;ATEKF> 1ST QTR NET Shr profit 20 cts vs loss three cts\n    Net profit 849,299 vs loss 82,512\n    Revs 7,929,138 vs 3,849,224\n Reuter\n&#3;',0
'ALEX BROWN INC &lt;ABSB> 1ST QTR MARCH 27 NET Shr primary 78 cts vs 68 cts\n    Shr diluted 75 cts vs 68 cts\n    Qtrly div six cts vs five cts\n    Net 7,929,000 vs 6,569,000\n    Revs 78.7 mln vs 61.9 mln\n    NOTE: Pay date for the qtrly div is April 28 for\nshareholders of record April 20.\n Reuter\n&#3;',0
'TOWN AND COUNTRY JEWELRY MANUFACTURING &lt;TCJC> 4thh qtr Feb 28\n    Shr 46 cts vs 22 cts\n    Net 2,139,034 vs 854,182\n    Sales 30.8 mln vs 20.6 mln\n    Avg shrs 5,280,854 vs 4,559,646\n    Year\n    Shr 1.34 dlrs vs 1.15 dlrs\n    Net 5,935,117 vs 4,156,171\n    Sales 107.2 mln vs 71.6 mln\n    Avg shrs 5,281,387 vs 3,616,183\n    NOTE: Town and Country Jewelry Manufacturing Corp.\n Reuter\n&#3;',0
'PAXAR CORP &lt;PAKS> MAKES ACQUISITION Paxar Corp said it has\nacquired Thermo-Print GmbH of Lohn, West Germany, a distributor\nof Paxar products, for undisclosed terms.\n Reuter\n&#3;',0
'&lt;MARK\'S WORK WEARHOUSE LTD> YEAR JAN 31 NET Shr 10 cts vs 32 cts\n    Net 975,000 vs 3,145,000\n    Sales 159.1 mln vs 147.3 mln\n Reuter\n&#3;',0
'CANADIAN BASHAW, ERSKINE RESOURCES TO MERGE Canadian Bashaw Leduc Oil and\nGas Ltd said it agreed to merge with Erskine Resources Ltd.\nTerms were not disclosed.\n    Ownership of the combined company with 18.8 pct for the\ncurrent shareholders of Canadian Bashaw and 81.2 pct to the\ncurrent shareholders of Erskine, the companies said.\n Reuter\n&#3;',0
'ENTOURAGE &lt;ENTG> HAS FIRST QUARTER LOSS Entourage International Inc said it had\na first quarter loss of 104,357 dlrs, after incurring 70,000\ndlrs in costs for an internal audit, a report for shareholders\nand proxy soliciation and 24,000 dlrs in startup expenses for\nopening London offices.\n    The company went public during 1986.\n    Entourage also said it has started marketing a solid\nperfume packaged in a lipstick tube called \"Amadeus,\" retailing\nat 15 dlrs.\n    The company also said it has acquired North Country Media\nGroup, a video productions company.\n Reuter\n&#3;',0
'&lt;MR. JAX FASHIONS INC> YEAR FEB 28 NET Shr 58 cts vs 29 cts\n    Net 3,141,000 vs 1,440,000\n    Sales 24.7 mln vs 13.0 mln\n Reuter\n&#3;',0
'F.W. WOOLWORTH CO SAYS IT HIKES DIVIDEND TO 33 CTS A SHARE FROM 28 CTS\n ',0
'F.W. WOOLWORTH CO &lt;Z> HIKES DIVIDEND Qtly div 33 cts vs 28 cts prior\n    Pay June 1\n    Record May 1\n Reuter\n&#3;',0
'DUTCH SUGAR BEET PLANTING HALF FINISHED Roughly half of this year\'s expected\n130,000 hectare Dutch sugar beet crop is already in the ground,\na spokesman for Suiker Unie, the largest sugar processor in the\nNetherlands, told Reuters.\n    Conditions are generally good and the average sowing date\nfor the crop is expected to be around April 11, against April\n23 last year, and a 10-year average of April 14, the spokesman\nadded.\n    \"It is far too early yet to say what kind of output we can\nexpect when it comes to harvest in September, but at least the\ncrop is off to a very good start,\" he said.\n    Last year, the Netherlands planted a record 137,600\nhectares of sugar beet and produced a record 1.2 mln tonnes of\nwhite sugar, substantially more than the country\'s combined \"A\"\nand \"B\" quota of 872,000 tonnes.\n    This year, however, a self-imposed quota system has been\nintroduced with the aim of cutting plantings to 130,000\nhectares and reducing white sugar output to around 915,000\ntonnes to minimise the amount of non-quota \"C\" sugar produced.\n    Only farmers with a record of growing suger beet have been\nallotted quotas. This is expected to prevent the area being\nboosted by dairy or cereal farmers moving into sugar.\n Reuter\n&#3;',0
'J.P. MORGAN AND CO INC 1ST QTR SHR 1.22 DLRS VS 1.28 DLRS\n ',0
'EC COMMISSION DETAILS SUGAR TENDER The EC Commission confirmed it granted\nexport licences for 118,350 tonnes of current series white\nsugar at a maximum export rebate of 46.496 European Currency\nUnits (ECUs) per 100 kilos.\n    Out of this, traders in France received 34,500 tonnes, in\nthe U.K. 37,800, in West-Germany 20,000, in Belgium 18,500, in\nSpain 5,800 and in Denmark 1,750 tonnes.\n REUTER\n&#3;',0
'VOLKSWAGEN DIVIDEND DECISION DUE TOMORROW Volkswagen AG &lt;VOWG.F>,\nVW, is due to make a formal announcement about its 1986\ndividend tomorrow after saying the 1985 level of 10 marks per\nordinary share would be held, despite massive losses because of\na suspected foreign currency fraud.\n    A spokesman said VW\'s supervisory board will meet tomorrow\nto discuss the payout.  A statement will be made afterwards.\n    VW has also said disclosed profits for 1986 will reach\ntheir 1985 level, despite provisions of a possible 480 mln\nmarks linked to the currency affair. The figure is virtually\nthe same as the 477 mln mark 1985 parent company net profit.\n    When VW first confirmed the currency scandal on March 10 it\nsaid the management board would propose an unchanged 10-mark\ndividend to the supervisory board. A dividend of 11 marks would\nbe proposed for the company\'s new preference shares.\n    Share analysts said they saw supervisory board approval of\nthe management board proposal as virtually a formality.\n\"Anything else would be more than a surprise,\" one said.\n    Company sources said VW would have to dig into reserves to\nmaintain the disclosed profit. Parent company reserves stood at\naround three billion marks at end-1985.\n Reuter\n&#3;',0
'CITYTRUST BANCORP INC &lt;CITR> 1ST QTR NET Shr 1.40 dlrs vs 1.16 dlrs\n    Net 5,776,000 vs 4,429,000\n    Avg shrs 4,132,828 vs 3,834,117\n Reuter\n&#3;',0
'SOUTHMARK &lt;SM> ACQUIRES 28 NURSING HOMES Southmark Corp said it acquired 28\nlong-term care facilities containing for approximately 70 mln\ndlrs in cash.\n    It said the facilities, which contain approximately 2,500\nbeds in seven western states, were bought from Don Bybee and\nAssociates, of Salem,Ore.\n    The acquistion brings to 57 health care facilities acquired\nin the last three months, the company said.\n Reuter\n&#3;',0
'J.P. MORGAN AND CO INC &lt;JPM> 1ST QTR NET shr 1.22 dlrs vs 1.28 dlrs\n    net 226.4 mln vs 233.9 mln\n    assets 80.45 billion vs 70.23 billion\n    loans 35.16 billion vs 35.99 billion\n    deposits 45.22 billion vs 39.68 billion\n    return on assets 1.14 pct vs 1.35 pct\n    return on common equity 18.20 pct vs 22.08 pct\n    NOTE: 1987 qtr net was reduced by 20 mln dlrs because 1.3\nbillion dlrs of loans to Brazil were placed on non-accrual.\n    loan loss provision 35 mln dlrs vs 70 mln year earlier.\n Reuter\n&#3;',0
'FIRSTBANC CORP OF OHIO &lt;FBOH> 1ST QTR NET Shr 74 cts vs 67 cts\n    Net 8,067,000 vs 7,317,000\n   \n Reuter\n&#3;',0
'MAYFAIR SUPER MARKETS INC &lt;MYFRA> 2ND QTR NET Qtr ends Feb 28\n    Shr Class A 61 cts vs 48 cts\n    Shr Class B 59 cts vs 46 cts\n    Net 2,358,000 vs 1,876,000\n    Revs 122,508,000 vs 105,871,000\n    Six mths\n    Shr Class A 1.15 dlrs vs 86 cts\n    Shr Class B 1.13 dlrs vs 84 cts\n    Net 4,485,000 vs 3,378,000\n    Revs 242,453,000 vs 210,117,000\n    NOTE: qtr and six mths prior figures reflect two-for-one\nstock split in August 1986.\n Reuter\n&#3;',0
'HANOVER INSURANCE &lt;HINS> GET SPLIT APPROVAL Hanover Insurance Co said its\nstockholders approved a two-for-one stock split.\n    As a result of the split, Hanover said it increases the\nnumber of authorized shares of capital stock from 10.4 mln,\nhaving a par value of one dlr, to 20.9 mln, also having a par\nvalue of one dlr.\n    The stock split is payable April 30 to stockholders of\nrecord April 10, Hanover said.\n Reuter\n&#3;',0
'NATIONAL GUARDIAN &lt;NATG> MAKES ACQUISITIONS National Guardian Corp said it\nhas acquired a number of security services companies recently,\nwith aggregate revenues of about 3,500,000 dlrs, for an\naggregate cost of about 2,700,000 dlrs.\n    It said it acquired guard service companies C.S.C. Security\nGaurd Service of Paramus, N.J., from Cartel Security\nConsultants Inc, the Guard Services Division of Security\nServices of America of Wayne, N.J., Capital Investigations and\nProtective Agency of Hackensack, N.J., and Meyer Detective\nAgency Inc of National Park, N.J.\n    The company said it bought alarm service operations\nCertified Security Services Inc of Key West, Fla., Custom\nSecurity Services of Myrtle Beach, S.C., A-T-E Security Group\nInc of Houston and the Louisville, Kent and Nashville, Tenn,\noffices of Wells Fargo Alarm Services.\n Reuter\n&#3;',0
'UNIVERSAL MEDICAL &lt;UMBIZ> DISTRIBUTION SET Qtly distribution 7-1/2 cts vs 7-1/2 cts prior (excluding\n2-1/2 cts special)\n    Pay April 30\n    Record April 22\n    NOTE: Full name is Universal Medical Buildings L.P.\n Reuter\n&#3;',0
'ZAMBIA DOES NOT PLAN RETAIL MAIZE PRICE HIKE The Zambian government has no immediate\nplans to follow last week\'s increase in the producer price of\nmaize with a hike in the retail price of maize meal, an\nofficial of the ruling party said.\n    Last December, a 120 pct increase in the consumer price for\nrefined maize meal, a Zambian staple, led to food riots in\nwhich at least 15 people died.\n    That price increase, which President Kenneth Kaunda later\nrevoked, followed pressure by the International Monetary Fund\n(IMF) to reduce the government\'s subsidy bill.\n    However, if the producer price rise, from 6.10 dlrs to 8.67\ndlrs per 90-kg bag, is not accompanied by a retail price\nincrease, the government will have to spend more on subsidies,\na practice discouraged by the IMF.\n    \"There is no way out but to raise the subsidy levels of\nmeal. It (the government) would have to choose between the\ndemands of the IMF and those of the people,\" a Ministry of\nAgriculture economist said.\n Reuter\n&#3;',1
'WEDGESTONE REALTY &lt;WDG> ACQUISITION APPROVED Wedgestone Realty Investors Trust\nsaid shareholkders have approved the acquisition of its\nadvisor, Wedgestone Advisory Corp, for 600,000 shares.\n    It said completion is expected to take place April 10.\n Reuter\n&#3;',0
'SUN &lt;SUN> CUTS HEATING OIL BARGE PRICE Sun Co\'s Sun Refining and Marketing Co\nsubsidiary said it is decreasing the price it charges contract\nbarge customers for heating oil in ny harbor by 0.50 cent a\ngallon, effective today.\n    The 0.50 cent a gallon price reduction brings Sun\'s heating\noil contract barge price to 50 cts a gallon, the company said.\n Reuter\n&#3;',0
'FURTHER ARGENTINE COARSE GRAIN LOSSES FEARED Argentine grain producers adjusted\ntheir yield estimates for the 1986/87 coarse grain crop\ndownward in the week to yesterday after the heavy rains at the\nend of March and beginning of April, trade sources said.\n    They said sunflower, maize and sorghum production estimates\nhad been reduced despite some later warm, dry weather, which\nhas allowed a return to harvesting in some areas.\n    However, as showers fell intermittently after last weekend,\nproducers feared another spell of prolonged and intense rain\ncould cause more damage to crops already badly hit this season.\n    Rains in the middle of last week reached an average of 27\nmillimetres in parts of Buenos Aires province, 83 mm in\nCordoba, 41 in Santa Fe, 50 in Entre Rios and Misiones, 95 in\nCorrientes, eight in Chaco and 35 in Formosa.\n    There was no rainfall in the same period in La Pampa.\n    Producers feared continued damp conditions could produce\nrotting and lead to still lower yield estimates for all the\ncrops, including soybean.\n    However, as the lands began drying later in the week\nharvesting advanced considerably, reaching between 36 and 40\npct of the area sown in the case of sunflower.\n    Deterioration of the sunflower crop evident in harvested\nmaterial in Cordoba, La Pampa and Buenos Aires forced yield\nestimates per hectare to be adjusted down again.\n    The season\'s sunflowerseed production is now forecast at\n2.1 mln to 2.3 mln tonnes, against 2.2 mln to 2.4 mln forecast\nlast week and down 43.9 to 48.8 pct on the 1985/86 record of\n4.1 mln.\n    Area sown to sunflowers was two to 2.2 mln hectares, 29.9\nto 36.3 pct below the record 3.14 mln hectares last season.\n    Maize harvesting has also reached 36 to 40 pct of the area\nsown. It is near completion in Cordoba and Santa Fe and will\nbegin in La Pampa and southern Buenos Aires later in April.\n    Production estimates for maize were down from last week at\n9.5 mln to 9.8 mln tonnes, against 9.6 mln to 9.9 mln estimated\npreviously.\n    This is 22.2 to 23.4 pct below the 12.4 mln to 12.6 mln\ntonnes estimated by private sources for the 1985/86 crop and\n21.9 to 25.8 pct down on the official figure of 12.8 mln\ntonnes.\n    Maize was sown on 3.58 mln to 3.78 mln hectares, two to\nseven pct down on last season\'s 3.85 mln.\n    Sorghum was harvested on 23 to 25 pct of the area sown in\nCordoba, Santa Fe and Chaco. Harvest will start in La Pampa and\nBuenos Aires in mid-April.\n    The total area sown was 1.23 mln to 1.30 mln hectares, 10.3\nto 15.2 pct down on the 1.45 mln sown last season.\n    The new forecast for the sorghum crop is 2.9 mln to 3.2 mln\ntonnes compared with three mln to 3.3 mln forecast last week,\nand is 23.8 to 29.3 pct down on last season\'s 4.1 mln to 4.2\nmln tonne crop.\n    The soybean crop for this season was not adjusted,\nremaining at a record 7.5 mln to 7.7 mln tonnes, up 4.2 to 5.5\npct on the 7.2 mln to 7.3 mln estimated by private sources for\n1985/86 and 5.6 to 8.5 pct higher than the official figure of\n7.1 mln.\n    The area sown to soybeans this season was a record 3.7 mln\nto 3.8 mln hectares, 10.8 to 13.8 pct up on the record 3.34 mln\nsown in 1985/86.\n    The soybean crop is showing excessive moisture in some\nareas and producers fear they may discover more damage. Some\nexperimental harvesting was carried out in Santa Fe on areas\nmaking up only about one pct of the total crop but details on\nthis were not available.\n    Preparation of the fields for the 1987/88 wheat crop, which\nwill be sown between May and August or September, has so far\nnot been as intense as in previous years.\n Reuter\n&#3;',1
'DUTCH ADJUSTED UNEMPLOYMENT RISES IN MARCH Dutch seasonally adjusted unemployment\nrose in the month to end-March to a total 693,000 from 690,600\nat end-February, but was well down from 730,100 at end-March\n1986, Social Affairs Ministry figures show.\n    The figure for male jobless rose by 2,000 in the month to\n436,500 compared with 470,700 a year earlier. The figure for\nwomen was 256,500 at end-March against 256,100 a month earlier\nand 259,400 at end-March 1986.\n    On an unadjusted basis total unemployment fell by 16,500 in\nthe month to end-March to 692,200. In March 1986 the figure was\n725,000.\n    A ministry spokesman said the unadjusted figures showed a\nsmaller than usual seasonal decrease for the time of year,\nbecause of particularly cold weather delaying work in the\nbuilding industry. He said this explained the increase in the\nadjusted statistics.\n    Total vacancies available rose by 1,900 to 26,300 at\nend-March. A year earlier the figure was 28,763.\n REUTER\n&#3;',0
' &#2;\nHARTMARX CORP &lt;HMX> BOOSTS DIVIDEND\n    CHICAGO, April 8 \n    Qtly div 25 cts vs 23 cts prior qtr\n    Pay 15 May\n    Record 1 May\n&#3;\n\n',0
'TOP OFFICIALS ARRIVE AT TREASURY FOR G-5 TALKS Top officials of leading industrial\nnations arrived at the U.S. Treasury main building to begin a\nmeeting of the Group of Five.\n    Officials seen arriving by Reuter correspondents included\nWest German Finance Minister Gerhard Stoltenberg and Bundesbank\nPresident Karl Otto Poehl, French Finance Minister Edouard\nBalladur and his central banker Jacques de Larosiere.\n    Also seen arriving were Japanese Finance Minister Kiichi\nMiyazawa and Japan\'s central bank governor Satoshi Sumita and\nBritish Chancellor of the Exchequer and central bank governor\nRobin Leigh Pemberton.\n    There was no immediate sign of Italian or Canadian\nofficials. Monetary sources have said a fully blown meeting of\nthe Group of Seven is expected to begin around 3 p.m. local\ntime (1900 gmt) and last at least until 6 p.m. (2200 gmt), when\na communique is expected to be issued.\n    Italian sources said Italian acting Finance Minister\nGiovanni Goria met Treasury Secretary James Baker last night.\n    At those talks Baker apparently convinced Goria, who\ndeclined to attend the February meeting of the Group of Seven\nin Paris, that Italy would participate fully in any meaningful\ndecisions.\n Reuter\n&#3;',0
'FED EXPECTED TO SET CUSTOMER REPURCHASES The Federal Reserve is expected to\nintervene in the government securities market to supply\ntemporary reserves indirectly via customer repurchase\nagreements, economists said.\n    Economists expect the Fed to execute 2.0-2.5 billion dlrs\nof customer repos to offset pressures from the end of the\ntwo-week bank reserve maintenance period today. Some also look\nfor a permanent reserve injection to offset seasonal pressures\nvia an outright purchase of bills or coupons this afternoon.\n     The Federal funds rate opened at 6-3/8 pct and remained at\nthat level, up from yesterday\'s 6.17 pct average.\n Reuter\n&#3;',0
'READER\'S DIGEST ASSOCIATION SELLS UNIT &lt;The Reader\'s Digest\nAssociation Inc> said it sold its subsidiary, Source\nTelecomputing Corp, to the venture capital firm of &lt;Welsh,\nCarson, Anderson and Stowe>.\n    The purchase price was not disclosed, Reader\'s Digest said.\n    It said it purchased an 80 pct stake in Source in 1980 and\nearned an unspecified profit on 14 mln dlrs in revenues in\n1986.\n Reuter\n&#3;',0
'WEIS MARKETS INC &lt;WMK> 1ST QTR MARCH 28 NET Shr 59 cts vs 51 cts\n    Net 18.0 mln vs 15.6 mln\n    Revs 278.6 mln vs 272.2 mln\n Reuter\n&#3;',0
'CONTINENTAL BANK INITIAL DISTRIBUTION APPROVED Continental Bank of Canada said\nshareholders approved a capital reorganization to allow an\ninitial payout by the end of May to common shareholders from\nlast year\'s 200 mln Canadian dlr sale of most Continental\nassets to &lt;Lloyds Bank PLC>\'s Lloyds Bank Canada.\n    The bank said the initial distribution would take the form\nof a stock dividend of cumulative redeemable retractable class\nA series two preferred shares entitling holders to monthly\nfloating rate dividends at 72 pct of prime and to 12.75 dlrs a\nshare on retraction.\n    Continental said the initial payout was subject to Canadian\ngovernment approval.\n    The bank reiterated that total distributions to common\nshareholders would range from 16.50 dlrs a share to 17.25 dlrs\nincluding the initial stock dividend and a final distribution\nin late 1988 or early 1989.\n    The payout of existing preferred shareholders will be\ncompleted just before next month\'s initial distribution to\ncommon shareholders, Continental added.\n   \n Reuter\n&#3;',0
'ATLAS CONSOLIDATED MINING AND DEVELOPMENT &lt;ACMB> 4th qtr\n    Shr loss 17 cts vs loss 22 cts\n    Net loss 14.5 mln vs loss 18.0 mln\n    Revs 27.3 mln vs 23.7 mln\n    Year\n    Shr 58 cts vs 1.01 dlrs\n    Net loss 48.3 mln vs loss 84.2 mln\n    Revs 111.7 mln vs 141.9 mln\n    NOTE: Atlas Consolidated Mining and Development Corp of\nManila.\n    Translated from Philippine pesos at 20.3489 pesos to dollar\nvs 18.5571 in quarter and 20.2315 vs 18.2743 in year.\n Reuter\n&#3;',0
'SCI-MED &lt;SMLS> BOARD AGREES TO BRISTOL&lt;BMY>DEAL Sci-Med Life Systems Inc said\nits directors approved a previously proposed agreement of\nmerger with Bristol-Myers Co.\n    The proposed transaction is subject to completion of a due\ndiligence investigation, including a review by Bristol-Myers of\na patent infringement suit served on Sci-Med by Advanced\nCardiovascular Systems Inc on March 31, 1987.\n    Bristol-Myers has the right to call off the agreement under\ncertain circumstances, it said.\n    Sci-Med said it continues to believe the patent suit is\nwithout merit.\n Reuter\n&#3;',0
'FIDELCOR &lt;FICR> COMPLETES SALE OF UNIT Fidelcor Inc said it has completed\nthe sale of its Industrial Valley Title Insurance Co subsidiary\nto a group of investors including the unit\'s management for\nundisclosed terms.\n    Industrial Valley has assets of about 37.6 mln dlrs and was\nacquired last year along with IVB Financial Corp.\n Reuter\n&#3;',0
'DATA TRANSLATION INC &lt;DATX> 1ST QTR FEB 28 NET Shr 18 cts vs 13 cts\n    Net 575,000 vs 379,000\n    Sales 6,625,000 vs 4,537,000\n    Avg shrs 3,173,000 vs 2,977,000\n Reuter\n&#3;',0
'ENERGY/U.S. PETROCHEMICAL INDUSTRY Cheap oil feedstocks, the weakened U.S.\ndollar and a plant utilization rate approaching 90 pct will\npropel the streamlined U.S. petrochemical industry to record\nprofits this year, with growth expected through at least 1990,\nmajor company executives predicted.\n    This bullish outlook for chemical manufacturing and an\nindustrywide move to shed unrelated businesses has prompted GAF\nCorp &lt;GAF>, privately-held Cain Chemical Inc, and other firms\nto aggressively seek acquisitions of petrochemical plants.\n    Oil companies such as Ashland Oil Inc &lt;ASH>, the\nKentucky-based oil refiner and marketer, are also shopping for\nmoney-making petrochemical businesses to buy.\n    \"I see us poised at the threshold of a golden period,\" said\nPaul Oreffice, chairman of giant Dow Chemical Co &lt;DOW>, adding,\n\"There\'s no major plant capacity being added around the world\nnow. The whole game is bringing out new products and improving\nthe old ones.\"\n    Analysts say the chemical industry\'s biggest customers,\nautomobile manufacturers and home builders that use a lot of\npaints and plastics, are expected to buy quantities this year.\n    U.S. petrochemical plants are currently operating at about\n90 pct capacity, reflecting tighter supply that could hike\nproduct prices by 30 to 40 pct this year, said John Dosher,\nmanaging director of Pace Consultants Inc of Houston. Demand\nfor some products such as styrene could push profit margins up\nby as much as 300 pct, he said.\n    Oreffice, speaking at a meeting of chemical engineers in\nHouston, said Dow would easily top the 741 mln dlrs it earned\nlast year and predicted it would have the best year in its\nhistory.\n    In 1985, when oil prices were still above 25 dlrs a barrel\nand chemical exports were adversely affected by the strong U.S.\ndollar, Dow had profits of 58 mln dlrs. \"I believe the entire\nchemical industry is headed for a record year or close to it,\"\nOreffice said.\n    GAF chairman Samuel Heyman estimated that the U.S. chemical\nindustry would report a 20 pct gain in profits during 1987.\nLast year, the domestic industry earned a total of 13 billion\ndlrs, a 54 pct leap from 1985.\n    The turn in the fortunes of the once-sickly chemical\nindustry has been brought about by a combination of luck and\nplanning, said Pace\'s John Dosher.\n    Dosher said last year\'s fall in oil prices made feedstocks\ndramatically cheaper and at the same time the American dollar\nwas weakening against foreign currencies. That helped boost\nU.S. chemical exports.\n    Also helping to bring supply and demand into balance has\nbeen the gradual market absorption of the extra chemical\nmanufacturing capacity created by Middle Eastern oil producers\nin the early 1980s.\n    Finally, virtually all major U.S. chemical manufacturers\nhave embarked on an extensive corporate restructuring program\nto mothball inefficient plants, trim the payroll and eliminate\nunrelated businesses. The restructuring touched off a flurry of\nfriendly and hostile takeover attempts.\n    GAF, which made an unsuccessful attempt in 1985 to acquire\nUnion Carbide Corp &lt;UK>, recently offered three billion dlrs\nfor Borg Warner Corp &lt;BOR>, a Chicago manufacturer of plastics\nand chemicals. Another industry powerhouse, W.R. Grace &lt;GRA> \nhas divested its retailing, restaurant and fertilizer\nbusinesses to raise cash for chemical acquisitions.\n    But some experts worry that the chemical industry may be\nheaded for trouble if companies continue turning their back on\nthe manufacturing of staple petrochemical commodities, such as\nethylene, in favor of more profitable specialty chemicals that\nare custom-designed for a small group of buyers.\n    \"Companies like DuPont &lt;DD> and Monsanto Co &lt;MTC> spent the\npast two or three years trying to get out of the commodity\nchemical business in reaction to how badly the market had\ndeteriorated,\" Dosher said. \"But I think they will eventually\nkill the margins on the profitable chemicals in the niche\nmarket.\" Some top chemical executives share the concern.\n    \"The challenge for our industry is to keep from getting\ncarried away and repeating past mistakes,\" GAF\'s Heyman\ncautioned. \"The shift from commodity chemicals may be\nill-advised. Specialty businesses do not stay special long.\"\n    Houston-based Cain Chemical, created this month by the\nSterling investment banking group, believes it can generate 700\nmln dlrs in annual sales by bucking the industry trend.\n    Chairman Gordon Cain, who previously led a leveraged buyout\nof Dupont\'s Conoco Inc\'s chemical business, has spent 1.1\nbillion dlrs since January to buy seven petrochemical plants\nalong the Texas Gulf Coast.\n    The plants produce only basic commodity petrochemicals that\nare the building blocks of specialty products.\n    \"This kind of commodity chemical business will never be a\nglamorous, high-margin business,\" Cain said, adding that demand\nis expected to grow by about three pct annually.\n    Garo Armen, an analyst with Dean Witter Reynolds, said\nchemical makers have also benefitted by increasing demand for\nplastics as prices become more competitive with aluminum, wood\nand steel products. Armen estimated the upturn in the chemical\nbusiness could last as long as four or five years, provided the\nU.S. economy continues its modest rate of growth.\n Reuter\n&#3;',0
'FIDATA CORP &lt;FID> 4TH QTR LOSS Shr loss two cts vs profit 38 cts\n    Net loss 90,000 vs profit 1,685,000\n    Revs 1,826,000 vs 29.3 mln\n    Year\n    Shr profit 3.37 dlrs vs profit 46 cts\n    Net profit 15.0 mln vs profit 2,047,000\n    Revs 26.2 mln vs 123.6 mln\n    NOTE: Net includes pretax securities sale gain 10,000 dlrs\nvs loss 1,000 dlrs in quarter and gain 486,000 dlrs vs loss\n112,000 dlrs in year.\n    Net includes pretax gains on sale of businesses of nil vs\n4,656,000 dlrs in quarter and 26.0 mln dlrs vs 4,656,000 dlrs\nin year.\n    Net includes pretax losses on disposition of product line\nof nil vs 3,150,000 dlrs in quarter and 3,300,000 dlrs vs\n3,150,000 dlrs in year.\n    Quarter net includes tax credits of 102,000 dlrs vs 736,000\ndlrs.\n    Net includes reversal of tax loss carryforwards of 259,000\ndlrs vs 264,000 dlrs in quarter and tax loss carryforwards of\n8,635,000 dlrs vs 579,000 dlrs in year.\n Reuter\n&#3;',0
'MARBLE FINANCIAL CORP &lt;MRBL> 1ST QTR NET Oper shr 26 cts vs not given\n    Oper net 866,000 vs 480,000\n    NOTE: 1987 net excludes 157,000 dlr gain from termination\nof pension plan.\n    Company went public in August 1986.\n Reuter\n&#3;',0
'DOMINION TEXTILE CALLS REPORT OF BID FOR BURLINGTON RUMOR\n ',0
'RAYTHEON CO 1ST QTR SHR 1.37 DLRS VS 1.19 DLRS\n ',0
'FLEET FINANCIAL GROUP 1ST QTR SHR 73 CTS VS 60 CTS \n ',0
'DIEBOLD INC &lt;DBD> DECLARES DIVIDEND Qtly div 30 cts vs 30 cts prior\n    Pay June 8\n    Record May 18\n Reuter\n&#3;',0
'INDEPENDENT BANK CORP &lt;IBCP> REGULAR DIVIDEND Qtly div 10 cts vs 10 cts previously\n    Pay April 20\n    Record April 10\n Reuter\n&#3;',0
'RAYTHEON CO &lt;RTN> 1ST QTR NET Shr 1.37 dlrs vs 1.19 dlrs\n    Net 101.8 mln vs 92.3 mln\n    Revs 1.750 billion vs 1.725 billion\n    Avg shrs 74.2 mln vs 77.8 mln\n Reuter\n&#3;',0
'WALTHAM SAVINGS BANK &lt;WLBK> INITIAL DIVIDEND Qtly div eight cts vs N.A.\n    Payable May 11\n    Record April 24\n Reuter\n&#3;',0
'FLEET FINANCIAL GROUP &lt;FLT> 1ST QTR NET Shr primary 73 cts vs 60 cts\n    Shr diluted 70 cts vs 58 cts\n    Net 38,528,000 vs 31,680,000\n    Avg shares 52,087,634 vs 51,294,652\n    NOTE: Qtr net interest income is 130.7 mln dlrs vs 114.8\nmln dlrs. Earnings per share reflects two-for-one common stock\nsplit on March 15.\n Reuter\n&#3;',0
'DOMINION CALLS BURLINGTON &lt;BUR> REPORT RUMOR &lt;Dominion Textile Inc> considers a\npublished report that it has bought a stake in Burlington\nIndustries Inc and is considering making a joint bid for the\ncompany to be a rumor, a company spokesman said.\n    \"As far as I am concerned and the company is concerned, they\nare rumors and we\'re not commenting on rumors,\" spokesman Michel\nDufour told Reuters in response to a query.\n    \"All the information that has been given out publicly is\nthat, yes, Dominion Textile is interested in making an\nacquisition that big...probably based on that people are\nstarting all sorts of rumors,\" he said.\n    Dufour said yes when asked whether the report was only a\nrumor, but said the company was not prepared to comment\nfurther. Dominion Textile president and chairman Thomas Bell\nwas out of town and unavailable for comment.\n    Dominion Textile last year made an unsuccesful 104-mln-\nU.S.-dlr bid for Avondale Mills and has maintained a 120-mln-\nU.S.-dlr line of credit to be used for an American acquisition.\n    Dufour said the company has been negotiating with \"many\"\nU.S. textile companies but would not say whether Burlington\nIndustries was one of them.\n    Burlington\'s stock rose sharply this morning on the report,\nwhich said Dominion Textile had joined with U.S. investor Asher\nEdelman to buy a stake in the company and to consider making a\ntakeover offer.\n    Dominion Textile, which reported operating profit of 11.1\nmln Canadian dlrs last year on sales of 926.5 mln dlrs, has\nrepeatedly said it will concentrate on expanding into the U.S. \n   The company has said it plans to diversify into new product\nand market areas in addition to expanding its textile\noperations.\n Reuter\n&#3;',0
'FED SETS OVERNIGHT SYSTEM REPURCHASES, FED SAYS\n ',0
'RAYTHEON &lt;RTN> NET RISES ON OPERATIONS Raytheon said a 10 pct rise in\nits first quarter net to 101.8 mln dlrs reflected improved\noperations and a lower effective tax rate.\n    The company said revenue gains in electronics, major\nappliances and other lines were offset by decreases in energy\nservices and aircraft products. Revenues in the quarter rose\n1.4 pct to 1.75 billion dlrs, it said.\n    The company said backlog stood at 7.520 billion dlrs, down\nfrom 7.912 billion dlrs a year earlier. It said a five year\n3.55 billion dlr U.S. defense contract was awarded shortly\nafter the close of the first quarter.\n Reuter\n&#3;',0
'GENERAL INSTRUMENT CORP &lt;GRL> 4TH QTR LOSS Ended Feb 28\n    Shr loss 2.80 dlrs vs profit 17 cts\n    Net loss 90.5 mln vs profit 5,271,000\n    Revs 240.9 mln vs 159.4 mln\n    Year\n    Shr loss 2.49 dlrs vs loss 2.07 dlrs\n    Net loss 80.4 mln vs loss 66.5 mln\n    Revs 787.9 mln vs 612.4 mln\n    NOTE: Includes loss of 89.6 mln dlrs vs loss 14.5 mln dlrs\nin year and loss of 91.6 mln dlrs in current qtr from\ndiscontinued operations.\n    1986 qtr includes pretax gain of five mln dlrs from\nsettlement of litigation and tax gain of 5.1 mln dlrs from\nchange in estimated effective tax rate.\n Reuter\n&#3;',0
'COCOA EXPORTERS EXPECTED TO LIMIT SALES Major cocoa exporters are likely to\nlimit sales in the weeks ahead in an effort to boost world\nprices, sources close to a meeting of the Cocoa Producers\nAlliance (CPA) said.\n    The sources said the depressed world market had been one of\nthe main topics discussed in a closed door meeting of the\n11-member CPA which began on Monday.\n    They said producers agreed that cutting sales would aid the\nbuffer stock manager of a new international cocoa pact in his\neffort to support prices.\n    Major cocoa producing and consuming nations agreed\noperation rules for the buffer stock at a meeting in London\nlast month and the stock manager is expected to enter the\nmarket soon.\n    Prices, under the weight of three successive cocoa\nsurpluses, recently fell to the level at which the manager has\nto buy cocoa under stock rules.\n    The buffer stock aims to keep prices within a pre-set range\nby buying when prices fall and selling when they rise.\n    \"The world\'s cocoa price at present is just not interesting,\"\ncommented one delegate representing a major CPA producer.\n    Another source said that with much of the 1986/87\n(October-September) world cocoa crop sold, limiting sales in\nthe near term concerns essentially next year\'s harvest.\n    The sources noted, however, that the cocoa industry in\nBrazil, the world\'s number two producer, is in private hands.\nThis means limiting sales is more difficult than in major West\nAfrican producers, where sales are made or authorized by\ncommodity marketing boards.\n    The CPA includes the world\'s top three producers, Ivory\nCoast, Brazil and Ghana, and accounts for 80 pct of all output.\n    The meeting here is due to end tomorrow evening.\n Reuter\n&#3;',0
'FED ADDS RESERVES VIA OVERNIGHT REPURCHASES The Federal Reserve entered the U.S.\nGovernment securities market to arrange overnight System\nrepurchase agreements, a Fed spokesman said.\n    Dealers said that Federal funds were trading at 6-3/8 pct\nwhen the Fed began its temporary and direct supply of reserves\nto the banking system.\n Reuter\n&#3;',0
'HONDURAS SEEKING PL-480 BULK WHEAT APRIL 13 Honduras will tender April 13 under\nPublic Law 480 for approximately 52,500 tonnes of various\nwheats in bulk, an agent for the country said.\n    The agent said Honduras is seeking U.S. no. 2 or better\nnorthern spring/DNS, with 14 pct protein minimum and 13 pct\nmoisture maximum, and U.S. no. 2 or better hard red winter,\nwith 12 pct protein minimum and 13 pct moisture maximum.\n    The agent said NS/DNS laydays include July 1-10 for\n7,500-9,500 tonnes, Aug 1-10 for 8,000-10,000 tonnes, and Sept\n15-25 for 12,500-14,500 tonnes.\n    HRW laydays include June 20-30 on 5,000-7,000 tonnes, July\n15-25 for 6,500-8,500 tonnes, and September 15-25 for\n7,000-9,000 tonnes.\n    Offers are due by 1550 hrs EDT, April 13, and will remain\nvalid until 1000 hrs EDT, April 14, the agent said.\n Reuter\n&#3;',0
'J.P. MORGAN &lt;JPM> NET HURT BY BRAZIL, TRADING J.P. Morgan and Co Inc said its\nfirst-quarter earnings fell by 3.2 pct, largely reflecting its\npreviously announced decision to place on non-accrual status\nits 1.3 billion dlrs of medium- and long-term loans to Brazil.\n    That decision, spurred by Brazil\'s suspension of interest\npayments on February 20, reduced the quarter\'s net income by 20\nmln dlrs to 226.4 mln dlrs, compared with 233.9 mln in the\nfirst three months of 1986.\n    Morgan also reported a loss of 1.8 mln dlrs from securities\nunderwriting and trading, in contrast to a gain of 45.4 mln\ndlrs in the year-earlier period.\n    In the fourth quarter of 1986, Morgan posted other trading\nlosses of 5.5 mln dlrs because of setbacks in the trading and\nunderwriting of Euromarket securities.\n    Conditions in some sectors of the Euromarket remained\ndifficult last quarter, with floating rate notes suffering\nheavy price falls, but a spokeswoman was unable to say whether\nMorgan\'s trading losses were restricted to the Euromarket.\n    On the positive side, Morgan reduced its provision for loan\nlosses to 35 mln dlrs from 70 mln a year earlier. Foreign\nexchange trading income rose to 82 mln dlrs from 72.6 mln and\ntrust income increased to 95.9 mln dlrs from 75.9 mln.\n    Morgan said other operating income, mainly fees and\ncommissions, rose to 102.2 mln dlrs from 88.4 mln, but net\ninvestment securities gains dropped to 43.1 mln from 58.1 mln.\n    Net interest earnings were 490.4 mln dlrs in the first\nquarter, down from 499.4 mln a year earlier, and net yield fell\nto 2.79 pct from 3.20 pct.\n    If Brazil had not been placed on non-accrual, which means\nthat interest can be recorded as income only when payments are\nactually received, net interest earnings would have been 525.9\nmln dlrs and net yield 2.99 pct. If Brazil does not resume\npayments, 1987 net would be cut by 72 mln dlrs, Morgan added.\n    After the provision for loan losses, Morgan\'s allowance for\ncredit losses at the end of March totaled 953 mln dlrs compared\nwith 910 mln at end-1986 and 815 mln a year earlier.\n    It reported net recoveries of six mln dlrs after\ncharge-offs of eight mln, compared with net charge-offs of 49\nmln dlrs after recoveries of three mln a year earlier.\n    Excluding Brazil, non-accruing loans at quarter\'s end were\n583 mln dlrs, down from 633 mln at end-1986 and 684 mln a year\nearlier. Non-interest expenses rose to 371.1 mln dlrs from\n303.5 mln dlrs, with more than half the increase related to\npersonnel costs, Morgan said.\n Reuter\n&#3;',0
'ATLAS CONSOLIDATED MINING &lt;ACMB> 4TH QTR Shr loss 17.3 cts vs 21.5 cts\n    Net loss 14.5 mln vs loss 18.0 mln\n    Revs 27.3 mln vs 23.7 mln\n    Year\n    Shr loss 58 cts vs loss 1.01 dlrs\n    Net loss 48.3 mln vs loss 84.2 mln\n    Revs 111.7 mln vs 141.9 mln\n Reuter\n&#3;',0
'BRAZIL GRAIN HARVEST FACES STORAGE PROBLEMS Storage problems with Brazil\'s record\ngrain crop are likely to result in losses of about five mln\ntonnes, an Agriculture Ministry spokesman said.\n    Ministry spokesman Leonardo Brito, speaking from Brasilia,\ntold Reuters he believed that about five mln tonnes of this\nyear\'s estimated crop of 65 mln tonnes would be lost.\n    He said part of this would be the normal loss inevitable in\nharvesting, but that most of it would stem from storage\nproblems.\n    Brazil has a storage capacity of 66 mln tonnes,\ntheoretically sufficient for the crop.\n    But Brito said that the storage capacity was badly\ndistributed. The states of Sao Paulo, Parana and Rio Grande do\nSul had between them 70 pct of the nation\'s capacity, but were\nresponsible for only 50 to 60 pct of production.\n    The biggest problems are concentrated in the Centre-West\ngrowing regions, where rising production has outpaced storage\ncapacity.\n    Brito said the Centre-West, whose crops include soya and\nmaize, had between 30 and 40 pct of the nation\'s grains\nproduction but only 20 pct of its storage space.\n    In addition to the poor distribution of storage units,\nthere is the problem that too much of the capacity is geared to\nstoring grain in sacks, while not enough is suitable for\nstoring loose grain, Brito said.\n    Finally, there is a shortage of lorries to transport the\ncrops.\n    The sheer scale of the task in transporting the record crop\nhas been evident from television reports, which have shown\nenormous queues of lorries waiting outside granaries.\n Reuter\n&#3;',1
'FLEET &lt;FLT> SHAREHOLDERS APPROVE SHARE INCREASE Fleet Financial Group said its\nshareholders approved an increase in shares of the company\'s\nauthorized common stock to 100,000,000 shares from 75,000,000\nshares currently.\n    The company said shareholders approved the move at the\nannual meeting in Providence today when the company reported\nthat its first quarter earnings rose to 38.5 mln dlrs, or 73\ncts a share, from 31.7 mln dlrs, or 60 cts a share, in the\nfirst quarter 1986.\n    J. Terence Murray, chairman and president of Fleet\nFinancial, said, \"Fleet\'s mortgage banking activities in\nparticular continued to produce signficant income increases (in\nthe first quarter).\"\n    Murray said Fleet\'s mortgage servicing portfolio reached\n22.1 billion dlrs by March 31, including 1.8 billion dlrs\npurchased in March.\n Reuter\n&#3;',0
'ROWE FURNITURE CORP &lt;ROWE> 1ST QTR FEB 28 Shr 42 cts vs 35 cts\n    Net 854,000 vs 839,000\n    Revs 23.2 mln vs 21.9 mln\n Reuter\n&#3;',0
'REUTERS CHAIRMAN URGES FREER INFORMATION FLOWS Exchanges and telecommunications\nauthorities should abolish their restrictions on full and free\ndissemination of information to the investment and banking\ncommunities, Reuters Holdings Plc &lt;RTRS.L> chairman Sir\nChristopher Hogg said.\n    In the 1986 annual repoprt, he said lengthy negotiations\nhad brought agreement with the Tokyo and London Stock Exchanges\nfor fuller, but still not complete, access to market data\nthrough Reuter services.\n    \"Many other markets maintain restrictions,\" he added.\n    Hogg said members of some markets appear to believe that\ninformation restrictions protected their interests.\n    In other cases, exchanges seem to be limiting the\ndistribution of data in order to provide competitive advantage\nto their own commercial information businesses.\n    He also noted that despite increasing liberalisation in the\ntelecommunications field, some countries continue to protect\ntheir state monopolies at the expense of other economic\nsectors.\n    \"Reuter dealing services remain excluded from such\ncountries. As a result, banking communities serving entire\neconomies are put at a competitive disadvantage,\" he added.\n    Reuters increased its 1986 pre-tax profit by 39 pct from\nthe previous year to 130.1 mln stg on a 43 pct rise in revenues\nto 620.9 mln stg.\n    Earnings per ordinary share were up 47 pct to 19.4p. The\nannual shareholder meeting will be held in London on April 29.\n Reuter\n&#3;',0
'CCL INDUSTRIES PURCHASES STAKE IN MONOBLOC &lt;CCL Industries Inc> said it purchased a\nmajority interest in Monobloc U.S.A. from Envases Metalurgicos\nde Alava of Spain.\n    Terms were not disclosed.\n    CCL also said it agreed to exchange present and future\ntechnology with Envases.\n Reuter\n&#3;',0
'PARIS GROUP PUBLISHING DAILY FRANC TIN PRICE The Association of White Metals has\ndecided to publish a daily tin price here in French francs per\n100 kilos, the French Federation of Non-Ferrous Metals said.\n    The price, quoted for the first time yesterday, was\nintroduced as the lack of tin quotes was causing problems for\nsome French companies, a spokesman for the non-ferrous metals\nassociation said.\n    Today\'s price was set at 4,776 francs per 100 kilos and\nTuesday\'s at 4,790.\n    The International Chamber of Commerce stopped publishing a\ntin price after the London Metal Exchange (LME) stopped tin\ntrading on October 24, 1985.\n    The Association has tested the basis it uses to calculate a\nFrench franc price over the last few months to ensure it was\nreliable, the spokesman said.\n    The French franc price is pre-tax, for specified quality, a\nminimum 99.9 pct purity, at a French port or border railway\nstation and a minimum delivery of 10 tonnes.\n    The French Federation of Non-Ferrous Metals groups various\nmetal associations including the Association of White Metals.\n Reuter\n&#3;',0
'RHODES INC &lt;RHD> DECLARES DIVIDEND Qtly div nine cts vs nine cts prior\n    Pay July 15\n    Record June 15\n Reuter\n&#3;',0
'MADEIRA IN LETTER OF INTENT TO BE ACQUIRED &lt;Madeira Inc> said it\nsigned a letter of intent to be acquired by Tradevest Inc\nthrough a stock-for-stock exchange.\n    After completion of the transaction, Tradevest would own 90\npct of the issued outstanding stock of Madeira.\n Reuter\n&#3;',0
'CELLTRONICS &lt;CELT> DECLARES ONE-FOR-10 SPLIT Celltronics Inc said its directors\ndeclared a one-for-10 reverse stock split of its common stock.\n    It said the split will be payable April 17 to shareholders\nof record April 16.\n Reuter\n&#3;',0
'MONTEDISON\'S AGRIMONT UNIT 1986 EARNINGS &lt;Montedison SPA> of Italy said net\nconsolidated profit for its Agrimont Group, formed in June\n1986, totalled 1.5 billion lire in 1986.\n    Agrimont SPA, the holding company for Montedison\'s\nAgro-Industrial businesses, had sales of 810 billion lire and a\nnet profit of about 1.1 billion lire, after amortization costs\nof 35 billion lire and a 13 billion lire reduction in the value\nof inventory due to falling market prices, Montedison said.\n    Agrimont, still wholly owned by Montedison, is taking steps\nto be traded on the Milan exchange, the company said.\n    The company said that 1986 was characterized by an unstable\nfertlizer market due to the weak dollar and the decline of\ninternational prices for products sold in Europe and the U.S\nwhere Agrimont operates through its Conserv division.\n    In pesticides and in animal health care products Agrimont\nmaintained its previous level of revenues and market share in\n1986, Montedison said.\n    Montedison said it named Ettore dell\'Isola to the newly\ncreated position of president of Agrimont.\n    Montedison also said it named Renato Picco, managing\ndirector of &lt;Eridania SPA> and Gianfranco Ceroni, managing\ndirector of &lt;Italiana Olii e Sifi>, both of whom are members\nof the the Ferruzzi Group\'s management board, to Argimont\'s\nboard of directors. Ferruzzi owns about 40 pct of Montedison,\nthe company said.\n    \n Reuter\n&#3;',0
'DATRON &lt;DATR> AGREES TO BUYOUT BY OFFICERS Datron Corp said it agreed to\nmerge with GGFH Inc, a Florida-based company formed by the four\ntop officers of the company.\n    According to terms of the proposed transaction, each share\nof Datron common stock, excluding those shares owned by the\nfour officers, will be bought for six dlrs a share, it said.\n    Datron\'s officers hold about 73 pct of the total 896,000\nDatron common shares outstanding.\n    Upon completion of the proposed transaction, the officers\nof Datron would own 100 pct of the company. The merger is\nsubject to GGHF\'s receiving financing for the plan, Datron\nsaid.\n    Shareholders of Datron will be asked to approve the plan at\ntheir annual meeting to be held in June or July, and the merger\nis expected to be completed by July 31, it said.\n Reuter\n&#3;',0
'TRUMP AND INTERSTATE PROPERTIES IN TALKS TO ACQUIRE ALEXANDERS\n ',0
'SOUND WAREHOUSE INC &lt;SWHI> 3RD QTR FEB 28 NET Shr 26 cts vs 52 cts\n    Net 1,386,000 vs 2,773,000\n    Revs 47.7 mln vs 38.5 mln\n    Nine mths\n    Shr 52 cts vs 97 cts\n    Net 2,765,000 vs 5,419,000\n    Revs 116.9 mln vs 97 mln\n Reuter\n&#3;',0
'TRUMP AND INTERSTATE IN TALKS FOR ALEXANDERS Donald Trump and Interstate Properties\nsaid they were holding preliminary discussions regarding a\npossible joint acquisition of Alexanders Inc at 47 dlrs per\nshare.    \n    The possible acquisition is subject to any applicable real\nestate gains and transfer taxes, the joint statement said.\n    Trump and Interstate, which presently own about 40 pct of\nAlexander\'s common stock, said they intend to keep the company\nas a retailer if they succed in their acquisition.\n    There can be no assurances that the parties will reach any\nagreement regarding an acquisition or what price might be\noffered, the statement said.\n Reuter\n&#3;',0
'JAPAN BUYS 4,000 TONNES CANADIAN RAPESEED Japan bought 4,000 tonnes of Canadian\nrapeseed overnight at an undisclosed price for last half\nMay/first half June shipment, trade sources said.\n Reuter\n&#3;',0
'TELECRAFTER CORP &lt;SWHI> 2ND QTR FEB 28 NET Shr profit 12 cts vs loss 14 cts\n    Net profit 183,000 vs loss 234,000\n    Revs 2.4 mln vs 1.5 mln\n    Six months\n    Shr profit 22 cts vs loss 22 cts\n    Net profit 345,000 vs loss 358,000\n    Revs 5.2 mln vs 2.9 mln\n    NOTE:1987 2nd qtr and six months include gains of 78,000\ndlrs and 154,000 dlrs for tax loss carryforward.\n Reuter\n&#3;',0
'TUNISIA EXPECTED TO TENDER FOR FRENCH WHEAT Tunisia is expected to tender April 14 for\n100,000 tonnes of French soft wheat for delivery between May\nand August and which would be covered by the French export\ncredit agency, COFACE, export credits, traders said here.\n    No official tender has been announced yet by Tunisia, they\nsaid.\n    France has sold a total of 200,000 tonnes of soft wheat to\nTunisia since the begining of the current campaign which was\ncovered by COFACE export credits. Of this amount, a total of\n150,000 tonnes was exported by March 1, they said.\n Reuter\n&#3;',0
'COLT INDUSTRIES INC &lt;COT> 1ST QTR NET Shr 28 cts vs 16 cts\n    Net 9,387,000 vs 25,617,000\n    Revs 410.1 mln vs 393.5 mln\n    Avg shrs 35.4 mln vs 164.7 mln\n    NOTE: 1987 net reflects interest expense on debt incurred\nto finance recapitalization in Oct. 1986. Prior year earnings\nrestated to reflect recapitalization plan.\n Reuter\n&#3;',0
'YANKEE &lt;YNK> UNIT NOT TO SELL SUBSIDIARY Yankee Cos Inc said its Eskey\nInc &lt;ESK> subsidiary has decided not to sell its Yale E. Key\nunit.\n    Further details were not disclosed.\n Reuter\n&#3;',0
'MAYFAIR SUPER MARKETS INC &lt;MYFRA> 2ND QTR FEB 28 Shr 59 cts vs 46 cts\n    Net 2.4 mln vs 1.9 mln\n    Revs 122.5 mln vs 105.9 mln\n    Six months\n    Shr 1.13 dlrs vs 84 cts\n    Net 4.5 mln vs 3.4 mln\n    Revs 242.5 mln vs 210.1 mln\n    NOTE: 1986 share adjusted for 2-for-1 stock split.\n Reuter\n&#3;',0
'&lt;BATON BROADCASTING INC> SIX MTHS FEB 28 NET Shr 33 cts vs 31 cts\n    Net 9,219,017 vs 8,515,539\n    Revs 112.0 mln vs 95.4 mln\n Reuter\n&#3;',0
'UNITED CABLE TELEVISION CORP &lt;UCT> 3RD QTR NET Shr loss 24 cts vs profit seven cts\n    Net loss 5,952,000 vs profit 2,078,000\n    Revs 55.9 mln vs 50.6 mln\n    Avg shrs 25.2 mln vs 24.7 mln\n    Nine mths\n    Shr loss 11 cts vs profit 24 cts\n    Net loss 2,673,000 vs profit 6,800,000\n    Revs 162.6 mln vs 143.9 mln\n    Avg shrs 25.0 mln vs 24.4 mln\n    NOTE: Current year net both periods includes pretax charge\nseven mln dlrs from increase in reserve for investments in\nbroadcast television entities and tax credits of 1,002,000 dlrs\nin quarter and 520,000 dlrs in nine mths.\n Reuter\n&#3;',0
'CANADA ALLOWS PUBLISHING TAKEOVER BY HARCOURT Investment Canada said it has allowed the\nindirect takeover of Holt, Rinehart and Winston Canada Ltd.,\nW.B. Saunders Co of Canada Ltd and Les Editions HRW Ltd by\nHarcourt Brace Jovanovich Canada Inc.\n    The government agency said, however, Harcourt Canada has\nagreed to sell control of the firms to Canadian interests\nwithin two years.\n    Harcourt Canada\'s U.S. parent, Harcourt Brace Jovanovich\nInc &lt;HBJ>, indirectly acquired the Canadian book publishing\ncompanies when it purchased Holt Rinehart and Winston from CBS\nInc &lt;CBS> last October.           \n Reuter\n&#3;',0
'TALKING POINT/BURLINGTON INDUSTRIES &lt;BUR> The largest U.S. textile maker focused\non its own business as its competitors found merger partners,\nbut now Burlington Industries Inc may have restructured itself\ninto an attractive takeover candidate, analysts said.\n    The takeover spotlight fell today on Burlington, which rose\n4-7/8 to 52-7/8 on speculation that investor Asher Edelman and\nDominion Textiles Inc of Canada bought an almost five pct\nstake.\n    A published report said Edelman and Dominion jointly\nacquired a stake in Burlington and were weighing a takeover\noffer. Edelman would not comment, and a spokesman for\nMontreal-based Dominion called the report just \"rumors.\"\n    Burlington said it did not know if the report was true.\n    Wall Street professionals said they were not convinced of\nthe story or that Edelman and Dominion would be the victors if\nBurlington actually came into play.\n    Arbitragers said past comments from Dominion, however,\nadded credence to the speculation. Dominion has said that it\nwas looking for a takeover in the U.S.\n    Last year, Dominion unsuccessfully bid for Avondale Mills\nand has maintained a 120 mln dlr line of credit to be used for\na U.S. acquisition.\n    A Dominion spokesman said Canada\'s largest textile producer\nhas been negotiating with \"many\" U.S. textile companies, but\nwould not say whether Burlington was among them.\n    \"There have been acquisitions in this area. It\'s not\nunusual that someone could be looking at Burlington after the\nhousecleaning they\'ve done,\" said Eileen Gormley of Thomson\nMcKinnon.\n    Burlington sold its domestic operations, which made sheets\nand other linens, to J.P. Stevens and Co Inc for 110 mln dlrs\nlast year. It also has reorganized management, and focused its\noperations on businesses that would be less affected by foreign\ncompetition, Gormley said.\n    \"They\'ve pulled back so as not to be a commodity marketer,\"\nsaid Gormley. She said in moving more heavily into industrial\nfabrics, Burlington bought C.H. Masland, which supplies carpets\nand other fabric to the auto industry.\n    \"In the past, they just spent and never realized the return\non the outlays they did make,\" she said.\n    \"You look at their record over the year, and I think\nthey\'re poised to be more profitable than they had been in the\npast,\" Gormley said.\n     She estimated 1987 earnings of 2.50 dlrs per share, up\nfrom 2.01 dlrs per share.\n    Some analysts today recommended clients not buy Burlington\nat its current levels.\n    Edward Johnson of Johnson Redbook said he recommends\nselling. He said he believes the stock is worth only about 50\ndlrs on a takeover basis and about 46 dlrs on an earnings\nbasis.\n    Some arbitragers, however, said takeover values have been\nplaced on the company of 60 to 65 dlrs per share.\n    \"After Asher\'s (Edelman) recent history, a lot of people\ndon\'t find him very credible anymore,\" said one arbitrager.\n    Another, however, said Edelman succeeds in forcing\nmanagements to take steps to enhance shareholder values even if\nhe doesn\'t win the target company.\n    Edelman was unsuccessful last year in offers for Lucky\nStores Inc and Fruehauf Corp. He did succeed in buying\nPonderosa Inc.\n    The stocks of other textile makers rose along with\nBurlington.\n    J.P. Stevens &lt;STN> climbed 5/8 to 44-7/8, and Fieldcrest\nCannon Inc &lt;FLD>, the result of a merger of Fieldcrest and\nCannon, rose 1-1/8 to 39-3/4. West Point-Pepperell Inc &lt;WPM>\nrose 1-7/8 to 67-1/8.\n Reuter\n&#3;',0
'STERIVET LABORATORIES LTD &lt;STVTF> 1ST QTR NET Shr profit 10 cts vs loss 17 cts\n    Net profit 206,000 vs loss 281,000\n    Revs 1,022,00 vs 344,000\n Reuter\n&#3;',0
'STERIVET LABORATORIES LTD &lt;STVTF> YEAR LOSS Shr loss 48 cts vs loss 19 cts\n    Net loss 746,000 vs loss 342,000\n    Revs 3,213,000 vs 2,925,000\n Reuter\n&#3;',0
'JAPAN IN LAST-DITCH EFFORT TO AVERT TARIFFS Senior Japanese officials tomorrow\nopen talks with American trade negotiators in a last-ditch\neffort to avert new high U.S. tariffs to be imposed on a wide\nvariety of Japanese electronic exports.\n    Makoto Kuroda, vice minister of Japan\'s Ministry of\nInternational Trade and Industry (MITI), is to hold two days of\nmeetings with the Deputy U.S. Trade Representative, Michael\nSmith, and the Under Secretary of Commerce, Bruce Smart.\n    The new tariffs, to go into effect on April 17, are in\nretaliation for Japan\'s failure to adhere to an agreement to\nend dumping semiconductors in world markets at below cost and\nto open its home market to U.S. semiconductor shipments.\n    They are to be imposed on goods which use semiconductors,\nincluding television and audio equipment and computers.\n    Both U.S. and Japanese officials have said there was little\nlikelihood the talks would do anything to avert the 100 pct\nduties on 300 mln dlrs worth of Japanese shipments.\n    President Reagan announced the planned tariffs on March 27\nafter he said that close monitoring of the July 1986\nU.S.-Japanese semiconductor pact convinced U.S. officials that\nJapan was not honoring the agreement.\n    In making the annoucement, Reagan said \"I am committed to\nthe full enforcement of our trade agreements designed to\nprovide American industry with free and fair trade.\"\n    Trade analysts said his move was aimed as much at Japan\'s\nsemiconductor trade practices, which are said to have injured\nthe U.S. semiconductor industry, as Congress, which has\ncomplained about presidential timidity on trade issues.\n    Congressional Democrats have pledged to enact aggressive\ntrade laws to counter what they contend has been Reagan\'s\ninaction to redress the growing U.S. trade deficit, which last\nyear reached 169.8 billion dlrs.\n    About one-third of the deficit was with Japan.\n    Reagan said there were recent signs Japan was beginning to\nadhere to the pact and that was why he was not terminating it.\n    Kuroda said on leaving Tokyo today he had no new proposals\nbut did have an explanation of the semiconductor situation.\n    He told the daily newspaper Ashai Shimbun that Reagan\'s\ndecision was based on inaccurate data and an exaggerated sense\nof MITI\'s power to control Japanese traders.\n    \"The United States has excessive expectations.,\" he said. To\nstabilize supply-demand relations which have been disrupted by\nexcess inventories since 1985 will take some time.\"\n    He also said that U.S. firms had not been aggressive enough\nin trying to sell in the Japanese market.\n Reuter\n&#3;',0
'HOECHST CELANESE SENDS REPORT ON NEW FACILITIES &lt;Hoechst Celanese Corp> said it\nsent propsective customers a confidential report describing its\npolyester textile fiber facilities in North Carolina and South\nCarolina.\n    The company did not disclose any prices.\n    The report describes the facilities in Darlington County,\nS.C., and Fayetteville, N.C., the company said. The report also\ndecribes related manufacturing, marketing, administrative and\ntechnical resources that could be made avialable to a buyer.\n    Hoechst Celanese was formed Feb 27 by the merger of\nCelanese Corp and American Hoechst Corp. The merger took place\nafter an agreement was reached with the Federal Trade\nCommission that certain domestic polyester textile fiber assets\nof the combined companies would be divested, it said.\n    Hoechst Celanese said it has the option of divesting either\nthe South Carolina facilities of the former American Hoechst or\na package of polyester textile fiber facilities of the former\nCelanese.\n Reuter\n&#3;',0
'MELLON PARTICIPATING MORTGAGE TRUST &lt;MPMTS> DIV Qtly div 25 cts vs 25 cts prior\n    Payable May 6\n    Record April 24\n Reuter\n&#3;',0
'U.K. GEC DECLINES COMMENT ON U.S. PURCHASE RUMOUR General Electric Co Plc &lt;GECL.L> (GEC)\ndeclined comment on rumours on the London stock market that it\nis planning another purchase in the U.S. Medical equipment\nfield, in addition to its existing U.S. Subsidiary &lt;Picker\nInternational Inc>.\n    A GEC spokesman said that it is company policy not to\ncomment on acquisition rumours.\n    Stock Exchange traders said the rumour helped GEC\'s share\nprice to rise 5p, to a final 206p from yesterday\'s closing\nprice of 201p.\n Reuter\n&#3;',0
'PRESTON CORP &lt;PTRK> SEES FIRST QUARTER LOSS Preston corp said it expects to\nreport a loss of about 300,000 dlrs or five cts per share for\nthe first quarter, compared with a profit of 1,081,000 dlrs or\n19 cts per share a year before.          \n    The trucking company attributed the loss to the continued\nrate of discounted in its primary markets, flat revenues and\nincreased costs, including uninsured claims expense resulting\nfrom adverse weather conditions during the last three months.\n    It said results outside the Northeast were strong, and it\nexpects to show improved results for the rest of the year.\n Reuter\n&#3;',0
'WHITE HOUSE STANDING FIRM ON JAPANESE SANCTIONS Presidential spokesman Marlin\nFitzwater said U.S. trade sanctions against Japan were likely\ntake effect on April 17 in spite of a \"full court press\" by\nJapanese officials to avoid them.\n    \"All indications are they will take effect,\" he said.\n    \"I would say Japan is applying the full court press ... They\ncertainly are putting both feet forward in terms of explaining\ntheir position,\" Fitzwater told reporters.\n    He noted high level meetings on the trade dispute are\nunderway here but said, \"I don\'t think there\'s anything I can\nreport and I don\'t believe there\'s been any official movement.\"\n REUTER\n&#3;',0
'DOW JONES AND CO INC FIRST QUARTER SHR 69 CTS VS 64 CTS\n ',0
'&lt;HAYES-DANA INC> 1ST QTR NET Shr 30 cts vs 28 cts\n    Net 5,000,000 vs 4,600,000\n    Revs 125.2 mln vs 123.9 mln\n    Note: 52 pct-owned by Dana Corp &lt;DCN>.\n Reuter\n&#3;',0
'COCOA TERMINAL DEPOSITS TO BE CUT 25 PCT - ICCH The basic deposit on cocoa futures\ncontracts will be reduced by 25 pct as from Friday, April 10,\ntaking the required deposit for one 10 tonne lot to 300 stg\nfrom 400 previously, a spokesman for the International\nCommodity Clearing House (ICCH) said.\n    The deposit for spread contracts will be similarly cut, to\n150 stg for a one 10 tonne lot from 200 previously, he said.\n    The ICCH had been looking at cocoa market fluctuations over\na period of weeks, he said, adding the market\'s basic stability\nhad warranted a cut in deposit rates.\n    The decision to cut deposits was taken by the ICCH after\nconsultation with the London Cocoa Terminal Market, the\nspokesman said.\n    The cuts were likely to attract more business to the\nmarket, he said.\n Reuter\n&#3;',0
'ELECTRO RENT CORP &lt;ELRC> 3RD QTR FEB 28 NET Shr 20 cts vs 32 cts\n    Net 1,358,000 vs 2,476,000\n    Revs 27.1 mln vs 26.2 mln\n    Nine Mths\n    Shr 68 cts vs 1.05 dlrs\n    Net 4,957,000 vs 8,129,000\n    Revs 82.6 mln vs 78.8 mln\n Reuter\n&#3;',0
'WALGREEN CO 2ND QTR SHR 62 CTS VS 58 CTS\n ',0
'JUDY\'S INC &lt;JUDY> 4TH QTR JAN 31 LOSS Shr loss two cts vs profit nine cts\n    Net loss 74,000 vs profit 418,000\n    Sales 18.2 mln vs 17.5 mln\n    Year\n    Shr profit nine cts vs profit 26 cts\n    Net profit 426,000 vs profit 1,170,000\n    Sales 58.7 mln vs 56.7 mln\n Reuter\n&#3;',0
'ORANGE-CO INC &lt;OJ> 2ND QTR FEB 28 NET Shr profit 2.26 dlrs vs loss 81 cts\n    Net profit 9,785,000 vs loss 3,422,000\n    Revs 26.0 mln vs 18.9 mln\n    Avg shrs 4,316,000 vs 4,207,000\n    1st half\n    Shr profit 2.75 dlrs vs loss 1.07 dlrs\n    Net profit 11.9 mln vs loss 4,486,000\n    Revs 39.0 mln vs 37.2 mln\n    Avg shrs 4,318,000 vs 4,181,000\n    NOTE: Current year net both periods includes gain 9,500,000\ndlrs from sale of Orange-Co of Florida subsidiary to American\nAgrnomics Corp &lt;AGR>.\n    Net includes pretax real estate disposition loss 920,000\ndlrs vs gain 52,000 dlrs in quarter and loss 863,000 dlrs vs\ngain 117,000 dlrs in half.\n    Prior year net includes tax credits of 2,132,000 dlrs in\nquarter and 3,039,000 dlres in half.\n    Current half net includes 2,051,000 dlr pretax gain\n2,051,000 dlrs from change in accounting.\n Reuter\n&#3;',0
'DOW JONES AND CO INC &lt;DJ> 1ST QTR NET Shr 69 cts vs 64 cts\n    Net 66,719,000 vs 61,773,000\n    Rev 285.6 mln vs 259.7 mln\n    NOTE: Earnings include after-tax gain of 29.4 mln dlrs, or\n30 cts a share, versus after-tax gain of 31.4 mln dlrs, or 32\ncts a share, for 1986 first quarter. Earnings per share\nreflects a 50 pct stock dividend in the form of a class B\ncommon stock distribution on June 30, 1986.\n   \n Reuter\n&#3;',0
'LORD ABBETT AND CO MUTUAL FUND DIVIDENDS LORD ABBETT BOND DEBENTURE FUND\n    Qtly div 28 cts vs 29 cts prior\n    Pay May 5\n    Record April 9\n    ---\n    LORD ABBETT U.S. GOVERNMENT SECURITIES FUND\n    Daily div 2.9 cts vs 2.9 cts prior\n    Pay May 15\n    Record May 15\n    LORD ABBETT TAX FREE INCOME FUND NATIONAL SERIES\n    Daily div 6.7 cts vs 6.7 cts prior\n    Pay May 15\n    Record May 15\n    ---\n    LORD ABBETT TAX FREE INCOME NEW YORK SERIES\n    Daily div 6.7 cts vs 6.7 cts prior\n    Pay May 15\n    Record May 15\n    LORD ABBETT TAX FREE INCOME TEXAS SERIES\n    Daily div 5.9 cts vs 5.9 cts prior\n    Pay May 15\n    Record May 15\n    ---\n    LORD ABBETT CALIFORNIA TAX FREE INCOME\n    Daily div of 6.2 cts vs 6.2 cts prior\n    Pay May 15\n    Record May 15\n Reuter\n&#3;',0
'HEINEKEN SEES HIGHER PROFITS, WIDER PENETRATION Dutch brewer Heineken NV said it hoped\nto maintain for a number of years a similar earnings growth to\nthe 7.5 pct increase in net profit achieved in 1986, despite\ncontinuing investments in a reorganization program and efforts\nto extend world penetration.\n    Heineken last month reported a 1986 net profit of 285 mln\nguilders, after 265 mln in 1985.\n    Chairman Freddie Heineken said the company, Europe\'s\nleading beer producer with six pct of market share in 1986,\nsaid sales increased by 6.3 pct to 42.1 mln hectoliters.\n    The volume increase was due mainly to a rise in the U.S.,\nWhere the brand Amstel Lite saw great demand, and in Europe,\nwhere sales accounted for 25.5 pct of the total.\n    Turnover, despite losses in guilder terms due to weaker\nforeign currencies, rose by 4.4 pct, to 6.7 billion guilders.\n    Further consolidation of foreign companies, including the\nincrease of its stake in leading Spanish brewery &lt;El Aguila\nS.A.> to 51.2 pct, new ventures and modernization, particularly\nin French and Spanish interests, eroded profit margins. The\ncompany still planned to invest 700 mln guilders this year in\nrestructuring and marketing, Heineken said.\n    Heineken\'s Spanish activities should start yielding profit\nnext year, Heineken said, adding that its French operations had\nalready turned to profit after vast rationalization last year.\n    Vice Chairman Gerard van Schaik said the decision by the\nEuropean Court of Justice in Luxembourg to allow foreign beer\ninto the closed West German market -- Europe\'s biggest beer\nmarket -- offered interesting possibilities for Heineken. \"We\nhave the beer, but distribution and sales is the important\npoint,\" van Schaik said, adding that since the ruling Heineken\nhad been inundated by German traders seeking joint ventures.\n    \"The question is not if we want to penetrate the German\nmarket, but how we are to do it,\" van Schaik said, adding that\nwhile the widely traveled Germans seemed to be developing a\ntaste for foreign beer, the internal structure was very\nregionalized.\n     Heineken board member Hans Coebergh, responsible for\nAfrican operations, said he saw Africa as one of the most\nimportant beer growth markets in the long term.\n     He said the company, present in Africa since 1932 and with\nmajority stakes in six breweries and interests in 25, was\nhampered by the lack of hard currencies there.\n    Africa, where beer consumption averages only nine liters\nper head per year and sales are limited by import restrictions\nand currency risks, nonetheless accounted for 6.5 pct of total\n1986 sales.\n    On-site production is rendered expensive by the high price\nof imports of essential ingredients. But Heineken scientists\nhave been looking at other possibilities.\n    To balance the costs of imported malt, Heinken launched on\nthe Nigerian market a new beer made of 50 pct sorghum, which\nhad sold successfully, Coebergh said.\n    Heineken is urging farmers to grow the traditional raw\nmaterials, but Coebergh noted that banana and palm beer were\npopular in Rwanda . \"This is a possibility, but we could not\npossibly achieve the Heineken flavor,\" Coebergh said.\n    Chairman Heineken said the company\'s seven year efforts to\npenetrate the Soviet market had finally resulted this week in a\ncontract that relaxed some of the restrictions they faced.\n    But again, a lack of hard currencies limited Heineken\'s\nmarket potential. Heineken now has seven bars in Moscow that\nare enjoying good sales, but the bars only accept western\nmoney.\n Reuter\n&#3;',0
'WALGREEN CO &lt;WAG> VOTES QUARTERLY DIVIDEND Qtly div 13-1/2 cts vs 12-1/2 cts prior qtr\n    Pay 12 June\n    Record 21 May\n Reuter\n&#3;',0
'COLOMBIA BUSINESS ASKED TO DIVERSIFY FROM COFFEE A Colombia government trade official has\nurged the business community to aggressively diversify its\nactivities and stop relying so heavily on coffee.\n    Samuel Alberto Yohai, director of the Foreign Trade\nInstitute, INCOMEX, said private businessmen should not become\nwhat he called \"mental hostages\" to coffee, traditionally\nColombia\'s major export.\n    The National Planning Department forecast that in 1987\ncoffee will account for only one-third of total exports, or\nabout 1.5 billion dlrs, with oil and energy products making up\nanother third and non-traditional exports the remainder.\n Reuter\n&#3;',0
'TURKEY CALLS FOR DIALOGUE TO SOLVE DISPUTE Turkey said today its disputes with\nGreece, including rights on the continental shelf in the Aegean\nSea, should be solved through negotiations.\n    A Foreign Ministry statement said the latest crisis between\nthe two NATO members stemmed from the continental shelf dispute\nand an agreement on this issue would effect the security,\neconomy and other rights of both countries.\n    \"As the issue is basicly political, a solution can only be\nfound by bilateral negotiations,\" the statement said. Greece has\nrepeatedly said the issue was legal and could be solved at the\nInternational Court of Justice.\n    The two countries approached armed confrontation last month\nafter Greece announced it planned oil exploration work in the\nAegean and Turkey said it would also search for oil.\n    A face-off was averted when Turkey confined its research to\nterritorrial waters. \"The latest crises created an historic\nopportunity to solve the disputes between the two countries,\"\nthe Foreign Ministry statement said.\n    Turkey\'s ambassador in Athens, Nazmi Akiman, was due to\nmeet Prime Minister Andreas Papandreou today for the Greek\nreply to a message sent last week by Turkish Prime Minister\nTurgut Ozal. The contents of the message were not disclosed.\n Reuter\n&#3;',0
'FRONTIER INSURANCE &lt;FRTR> IN ACQUISITION TALKS Frontier Insurance Group Inc\nsaid it is currently negotiating to acquire the business of\nMedical Quadrangle Inc, formerly its largest medical\nmalpractice insurance producer, and the business of its other\nmalpractice producer, Medical Professional Liability Agency\nInc.\n    It gave no details.\n Reuter\n&#3;',0
'FRONTIER INSURANCE GROUP INC &lt;FRTR> 4TH QTR NET Oper shr 25 cts vs six cts\n    Oper net 840,000 vs 139,000\n    Revs 8,290,000 vs 4,743,000\n    Avg shrs 3,335,029 vs 2,400,000\n    Year\n    Oper shr 97 cts vs 53 cts\n    Oper net 2,546,000 vs 1,275,000\n    Revs 28.8 mln vs 18.5 mln\n    Avg shrs 2,635,665 vs 2,400,000\n    NOTE: Net excludes investment gain four cts shr vs loss six\ncts in quarter and gain five cts vs loss six cts in year.\n Reuter\n&#3;',0
'GATT OFFICIAL MEETS WITH U.S. FARM LEADERS The official in charge of\nagricultural matters in the new round of global trade talks is\nin Washington today and tomorrow to meet with congressional and\nReagan administration officials.\n    Aart de Zeeuw, chairman of the General Agreement on Tariffs\nand Trade\'s negotiating group on agriculture, met this morning\nwith members of the House Agriculture Committee.\n    Committee sources said De Zeeuw expressed concern over\nprotectionism and high farm price supports. House lawmakers\nnoted that in 1985 the United States took steps to reduce loan\nrates, committee staff said.\n    \"Members told him (De Zeeuw) that we lowered our (U.S.) loan\nrates and can\'t eliminate subsidies unilaterally,\" one source\nsaid.\n    De Zeeuw was told of the U.S. lawmakers\' frustration with\nJapan\'s restrictive rice import policy, and members defended\nthe U.S. dairy policy, which aims to cut surplus production by\nsubsidizing producers to trim herds, sources said.\n    Later today De Zeeuw will meet the Senate Agriculture\nmembers and Undersecretary of State Affairs Allen Wallis.\n    Tomorrow, De Zeeuw is to meet the House Ways and Means\nTrade Subcommittee and the Senate Finance Committee, before\nvisiting Agriculture Secretary Richard Lyng.\n    De Zeeuw goes to Canada later this week. His trip to North\nAmerica is part of his attempt to meet farm policy leaders in\nthe key GATT member states.\n    The negotiating group on agriculture held its first meeting\nin February and is expected to meet again in May.\n Reuter\n&#3;',0
'SOUTHINGTON SAVINGS BANK &lt;SSBB> 1ST QTR NET Shr 39 cts vs not given\n    Net 707,000 vs 505,000\n    NOTE: Company went public in July 1986.\n Reuter\n&#3;',0
'CATERPILLAR INC &lt;CAT> VOTES QUARTERLY DIVIDEND Qtly div 12-1/2 cts vs 12-1/2 cts prior qtr\n    Pay 20 May\n    Record 20 April\n Reuter\n&#3;',0
'CORRECTED - DATRON &lt;DATR> AGREES TO BUYOUT Datron Corp said it agreed to\nmerge with GGHF Inc, a Florida-based company formed by the four\ntop officers of the company.\n    According to terms of the proposed transaction, each share\nof Datron common stock, excluding those shares owned by the\nfour officers, will be converted into six dlrs a share, it\nsaid.\n    Datron\'s officers hold about 73 pct of the total 896,000\nDatron common shares outstanding, it said.\n(corrects company name, GGHF, in first paragraph)\n REUTER\n&#3;',0
'WALGREEN CO &lt;WAG> 2ND QTR FEB 28 NET Shr 62 cts vs 58 cts\n    Qtly div 13-1/2 cts vs 13-1/2 cts prior\n    Net 38.8 mln vs 35.7 mln\n    Revs 1.18 billion vs one billion\n    Six mths\n    Shr 84 cts vs 86 cts\n    Net 52 mln vs 52.9 mln\n    Revs 2.14 billion vs 1.82 billion\n    NOTE: Results include charge of four cts shr for latest six\nmths vs credit of five cts shr for prior six mths from\ninvestment tax credit\n     Dividend payable June 12, record May 21\n Reuter\n&#3;',0
'J.P. MORGAN&lt;JPM> SAYS DLR MAY PREVENT FED EASING The relatively high level of real U.S.\ninterest rates suggests that there is scope for further\ndeclines in money market rates, but the Federal Reserve is\nunlikely to promote such a drop as long as the dollar remains\nvolatile, said J.P. Morgan and Co Inc chairman Lewis Preston.\n    He said in response to a reporter\'s question after the\nbank\'s annual meeting that money market rates could decline\nfurther but, \"I don\'t think the Fed is going to encourage that\nas long as the exchange markets are as volatile as they are.\"\n    On the other hand, he said that, barring a collapse of the\ndollar, he did not see rates going much higher.\n    He said that Morgan\'s recent rise in its prime lending rate\nwas \"purely a reflection of an increase in a whole spectrum of\nrates.\"\n    Preston reiterated earlier company forecasts that the U.S.\neconomy should show roughly 2.5 to three pct real growth this\nyear.\n    He also said that as a consequence of the dollar\'s decline\nand oil price rises, inflation would rise \"moderately\" to a 3.5\nto four pct rate in 1987.\n Reuter\n&#3;',0
'MEDTRONIC &lt;MDT> SEES 15 PCT EARNINGS GROWTH Medtronic Inc said it sees 15 pct\ngrowth in sales and earnings for the year ending April 30,\n1988.\n    At an analysts meeting here the company said that for the\nyear ending April 30, 1987 it will earn about 73 mln dlrs, or\nabout 5.15-5.35 dlrs a share on sales of about 500 mln dlrs.\n    In the year ago period, the company earned 53.4 mln dlrs,\nor 3.65 dlrs a share, on sales of 402.8 mln dlrs.\n    Winston Wallin, Medtronic chairman, said the company will\nimprove market share in fiscal 1988 in cardiac pacemakers and\nexpand its cardiovascular therapeutic product line.\n    Wallin cautioned analysts not to quickly change their per\nshare estimates for the company as he said Medtronic will have\nheavy sales and marketing expenses in fiscal 1988.\n    He said the company intends to reinvest its earnings in its\nbusinesses and not in its dividends. \"Shareholders are better\noff if we grow the business rather than reinvest in dividends\nor share repurchases,\" he said.\n    Wallin said he sees Medtronic\'s share of the total\nworldwide pacemaker market increasing to 42 pct in fiscal 1988,\nfrom 40 pct in fiscal 1987.\n    He said the worldwide market for cardiovascualr therapeutic\nproducts, which includes pacemakers, valves, catheters and\nlasers, will be valued at about 2.5 billion dlrs 1990 and will\ndouble that by 1995.\n    Wallin said, \"Our objective is to get a hold of new\nproducts and start building market share if we have to beg,\nborrow or steal to get into new markets.\"\n    In the past, Medtronic\'s pacemakers have been plagued with\na number of problems leading to product recalls. Regulators\nalso have criticized the industry, citing quality problems and\na needless overprescription of pacemakers.\n    \"We have no knowledge of any major problems in our\npacemakers or leads,\" Wallin said. \"We intend to re-establish\nour company as the quality leader in the industry.\"\n    Glen Nelson, executive vice president for Medtronics, said\nthe company intends to diversify internally and through\nacquisitions of companies in areas of Medtronic\'s expertise,\nsuch as drug delivery systems.\n    Wallin said the 15 pct earnings growth for fiscal 1988 does\nnot include dilutions from acquisitions. \"We hope to have some\nsafety provisions so that we won\'t have any major dilutions\nfrom an acquisition.\"\n    Wallin also said the company will have virtual exclusivity\nin rate responsive pacemakers for all of fiscal 1988.\n    The company markets Activitrax, the first single chamber\npacemaker that varies heartrate in response to physical\nactivity.\n    Siemens AG, a West German company, is also developing a\nrate responsive pacemaker.\n   \n Reuter\n&#3;',0
'SPIE BATIGNOLLES COULD INCREASE COMSTOCK HOLDING Construction group &lt;Spie Batignolles> is\nnegotiating to increase its holding in U.S. Engineering and\nelectrical installations firm &lt;Comstock>.\n    Spie Batignolles, a subsidiary of Schneider SA &lt;SCHN.PA>,\nsaid in a statement it was negotiating to invest 20 mln dlrs in\nComstock in the form of bonds convertible into shares.\n    Spie Batignolles has held a 20 pct stake in Comstock since\nFebruary 1986. A spokesman said if Spie Batignolles converted\nall the new bonds, it could open the way for the French company\nto take control of Comstock but he gave no other details.\n Reuter\n&#3;',0
'TALKS CONTINUE ON TIN AGREEMENT EXTENSION Discussions on the possible extension of\nthe sixth International Tin Agreement (ITA) began at the\nquarterly session of the International Tin Council (ITC) but\nthe Council is still waiting for decisions from various member\nstates.\n    A number of producer governments in particular have not\ndecided their final position on whether the ITA should be\nextended for up to two years or wound down after it expires on\nJune 30, according to delegate sources.\n    Earlier today European Community (EC) members decided to\nback an extension, with the exception of Britain, which\nundertook to communicate its decision to its EC partners later.\n    Delegates said it could be Friday before all the member\ncountries declare their positions on the possible extension.\nToday\'s full Council session started shortly before 1500 GMT\nafter the scheduled 1330 start was delayed by an EC\ncoordination meeting.\n    The council reconvenes at 0930 GMT tomorrow, although\ndelegates said the morning is likely to be taken up with minor\ntechnical matters and the main issue will probably not be\ndiscussed before the afternoon session.\n Reuter\n&#3;',0
'PAKISTAN COTTON CROP SEEN RECORD 7.6 MLN BALES Pakistan is likely to produce a record\n7.6 mln bales (375 lbs each) of cotton from the current 1986/87\ncrop, exceeding a target of 7.2 mln bales, Food and Agriculture\nMinister Mohammad Ibrahim Baluch said.\n    He told a Pakistan Central Cotton Committee meeting here\nthe present was the third consecutive poroduction\nrecord-setting year and said the momentum would be accelerated\nin the future, the official APP news agency reported.\n    Baluch said indications were that Pakistan is to attain a\nrecord cotton production of 7.6 mln bales, compared to the\n1985/86 crop of 7.2 mln bales which also represented the target\nearlier set by authorities for this year\'s production.\n Reuter\n&#3;',0
'TRANZONIC COS &lt;TNZ> 4TH QTR FEB 28 NET Shr 54 cts vs 24 cts\n    Net 633,300 vs 300,859\n    Sales 15.2 mln vs 13.0 mln\n    Avg shrs 1,165,047 vs 1,224,982\n    Year\n    Shr two dlrs vs 1.64 dlrs\n    Net 2,379,400 vs 2,011,924\n    Sales 58.6 mln vs 54.0 mln\n    Avg shrs 1,187,828 vs 1,223,511\n Reuter\n&#3;',0
'SECURITY PACIFIC EXPECTS BRAZIL LOAN ACTION TO CUT NET BY 7.2 MLN DLRS\n ',0
'WHITE HOUSE SAYS JAPANESE TARRIFFS LIKELY The White House said high U.S.\nTariffs on Japanese electronic goods would likely be imposed as\nscheduled on April 17, despite an all-out effort by Japan to\navoid them.\n    Presidential spokesman Marlin Fitzwater made the remark one\nday before U.S. And Japanese officials are to meet under the\nemergency provisions of a July 1986 semiconductor pact to\ndiscuss trade and the punitive tariffs.\n    Fitzwater said: \"I would say Japan is applying the\nfull-court press...They certainly are putting both feet forward\nin terms of explaining their position.\" But he added that \"all\nindications are they (the tariffs) will take effect.\"\n Reuter\n&#3;',0
'SHOWBOAT &lt;SBO> TO TAKE CHARGE, SEES 3RD QTR LOSS Showboat Inc will take a\ncharge of 19 to 20 mln dlrs pretax against results for the\nthird quarter ended March 31, director and assistant to the\npresident J. Kell Houssels III told Reuters.\n    He said the charge results from pre-operating expenses of\nits recently-opened Atlantic City, N.J., Showboat Hotel, Casino\nand Bowling Center and will cause a loss for the third quarter\nand probably for all of fiscal 1987 as well.\n    But Houssels said Showboat\'s earnings for fiscal 1988\nshould show a sharp increase from fiscal 1986 levels due to the\ncontribution of the new Atlantic City facility.\n    Showboat earned 1,753,000 dlrs in last year\'s third\nquarter.  For all of fiscal 1986 it earned 5,769,000 dlrs.\n    Houssels said Showboat since the opening of the Atlantic\nCity hotel/casino, Showboat has had to start charging interest\nexpenses connected with debt it sold to finance the facility\ndirectly against income rather than capitalizing the interest\nas it had been able to do previously.\n    Showboat opened the hotel during its third quarter and\ngaming began last Thursday on a regular basis after test gaming\nwas completed earlier in the week.\n Reuter\n&#3;',0
'SECURITY PACIFIC &lt;SPC> LOANS PUT ON NON-ACCRUAL Security Pacific Corp said it is\nplacing medium and long-term loans to Brazil and Ecuador on a\nnon-accrual basis as of March 31, a move that will reduce first\nquarter earnings by 7.2 mln dlrs, or nine cts per share, after\ntaxes.\n    Despite the anticipated reduction to quarterly earnings,\nSecurity Pacific said it still expects to report first quarter\nearnings higher than the 88 mln dlrs, or 1.11 dlrs per share\nreported for the first quarter of 1986.\n    The bank holding company said the action affects 401 mln\ndlrs of loans to Brazil and 73 mln of loans to Ecuador.\n    Brazil suspended interest payments on its 68 billion dlrs\nof medium- and long-term debt on February 20.\n    Ecuador, which has foreign debt of roughly eight billion\ndlrs, has not paid any interest to foreign banks since\nFebruary.\n    In March Ecuador said it would suspend interest payments\nfor the rest of the year because of an earthquake which halted\nthe export of oil, which accounts for about 75 pct the\ncountry\'s export revenues.\n    In its announcement, Security Pacific said it will record\ninterest income only as it is received in cash.\n    The company also said it believes that Brazil will reach an\nagreement with its banks and that interest payments will resume\nlater in 1987.\n    The Brazilian negotiations resume on Friday in New York\nwhen Central Bank Governor Francisco Gros is expected to ask\nbanks for a 90-day roll-over of some 9.5 billion dlrs of term\ndebt that matures on April 15.\n Reuter\n&#3;',0
'IRAQI TROOPS REPORTED PUSHING BACK IRANIANS Iraq said today its troops were pushing\nIranian forces out of positions they had initially occupied\nwhen they launched a new offensive near the southern port of\nBasra early yesterday.\n    A High Command communique said Iraqi troops had won a\nsignificant victory and were continuing to advance.\n    Iraq said it had foiled a three-pronged thrust some 10 km\n(six miles) from Basra, but admitted the Iranians had occupied\nground held by the Mohammed al-Qassem unit, one of three\ndivisions attacked.\n    The communique said Iranian Revolutionary Guards were under\nassault from warplanes, helicopter gunships, heavy artillery\nand tanks.\n    \"Our forces are continuing their advance until they purge\nthe last foothold\" occupied by the Iranians, it said.\n    (Iran said its troops had killed or wounded more than 4,000\nIraqis and were stabilising their new positions.)\n    The Baghdad communique said Iraqi planes also destroyed oil\ninstallations at Iran\'s southwestern Ahvaz field during a raid\ntoday. It denied an Iranian report that an Iraqi jet was shot\ndown.\n    Iraq also reported a naval battle at the northern tip of\nthe Gulf. Iraqi naval units and forces defending an offshore\nterminal sank six Iranian out of 28 Iranian boats attempting to\nattack an offshore terminal, the communique said.\n   \n Reuter\n&#3;',0
'GOLDEN ENTERPRISES INC &lt;GLDC> 3RD QTR FEB 28 NET Shr 15 cts vs nine cts\n    Qtly div six cts vs six cts in prior qtr\n    Net 2,002,261 vs 1,168,638\n    Revs 29.2 mln vs 29.3 mln\n    Avg shrs 13.1 mln vs 13.0 mln\n    Nine mths\n    Shr 49 cts vs 36 cts\n    Net 6,404,536 vs 4,623,295\n    Revs 92.2 mln vs 88.2 mln\n    Avg shrs 13.1 mln vs 13.0 mln\n    NOTE: Dividend is payable April 30 to holders of record\nApril 20\n Reuter\n&#3;',0
'GROUP OF FIVE MEETING ENDS A meeting of finance ministers and\ncentral bankers of the Group of Five ended after nearly three\nand a half hours.\n    West German Finance Minister Gerhard Stoltenberg and\nBritish Chancellor of the Exchequer Nigel Lawson declined to\ncomment on the meeting as they emerged from the U.S. Treasury.\n    A European monetary official said the ministers of the\nGroup of Seven countries would gather at about three p.m. local\n(1900 GMT) at the Treasury.\n Reuter\n&#3;',0
'USDA TO PROPOSE FOREIGN MEAT INSPECTION RULE The U.S. Agriculture Department is\npreparing a proposal that would require all foreign meat\nproducts to be inspected at their point of arrival in the\nUnited States, a USDA official said.\n    Donald Houston, administrator of USDA\'s Food Safety and\nInspection Service, FSIS, told a House Agriculture subcommittee\nUSDA was developing a proposed change in regulations that would\nput an end to the current practice of permitting foreign meat\nproducts to be unloaded at one port and inspected at another\nport.\n    Houston said the requirement would be phased in over\nseveral years to \"avoid disruptions and economic hardship.\"\n Reuter\n&#3;',0
'UNION TEXAS OIL RESERVES DROPPED IN 1986 Union Texas Petroleum said its worldwide\nproved reserves fell to 511 mln barrels of oil equivalent at\nthe end of 1986 from 555 mln barrels reported in 1985.\n    In its newly released annual report, Union Texas said it\nreplaced about 71 pct of its production of 56 mln barrels of\noil equivalent last year after taking into account the sale of\n27 mln barrels of U.S. reserves.\n    Union Texas, the nation\'s largest independent oil and gas\nproducer based on revenues, is a privately-held company owned\nby Kohlberg Kravis Roberts and Co and Allied-Signal Inc &lt;ALD>.\n    The Houston-based company said it lost 57.5 mln dlrs on\n1.26 billion dlrs in sales last year, compared to profits of\n165 mln dlrs on 2.04 billion dlrs in sales in 1985.\n    Union Texas said it received an average of 13.35 dlrs per\nbarrel for its international oil production and 2.99 dlrs per\nmcf for its foreign natural gas sales. The majority of the\ncompany\'s total energy production is in the United Kingdom,\nIndonesia and Pakistan.\n    In the United States, Union Texas said it completed\nevaluation work on its oil find in Alaska\'s Colville Delta\narea.\n    \"Although significant oil reserves were confirmed,\ndevelopment of this discovery will not be economical without\nsubstantially higher prices,\" the company said.\n    Union Texas said it planned to spend about 42 mln dlrs over\nthe next two years to develop its Eugene Island Block 371 in\nthe Gulf of Mexico.\n    In 1987, the company said it budgeted 178 mln dlrs for\ncapital spending, less than half of the amount spent in 1985\nand down from 199 mln dlrs budgeted last year. Union Texas also\nsaid it would seek acquisitions of oil and gas properties as\nwell as petrochemical-related businesses.\n Reuter\n&#3;',0
'UAL &lt;UAL> MAY RESPOND TO PILOTS TODAY UAL Inc may have a response this\nafternoon to the pilots union proposal to buy its United\nAirlines unit, a UAL spokesman said.\n    \"Obviously, we have a lot of movement in our stock, and we\nneed to get a clarification out,\" the spokesman said, adding\nthat there was a \"50-50\" chance a statement would be released\ntoday.\n    The pilots earlier this week offered to buy the airline for\n2.3 billion dlrs, and assume 2.2 billion dlrs of existing debt.\n    Takeover speculation has driven UAL\'s stock for several\nweeks. UAL last month said New York Real estate developer\nDonald Trump held a position in its stock, and that he also\nheld discussions with its chairman.\n    The developer indicated in those talks that he took the\nposition as an investment, but he revealed no other plans.\n    Today, rumors circulated that Coniston Partners were buying\nUAL stock. UAL jumped five to 70-3/4 on volume of more than 3.2\nmln shares.\n    \"United has got to consider this proposal. I think the\npilot\'s proposal is realistic. I don\'t exptect them to take it,\nbut it could put some interesting options in front of UAL\nmanagement,\" said Timothy Pettee, Bear Stearns and co analyst.\n    Analysts have said UAL made itself vulnerable to attack\nwhen it diversified away from its core airline. It added Hertz\nrental cars, Westin and Hilton International hotels in a\nstrategy to become a travel service company.\n    The strategy left its stock in a slump and its pilots union\nconcerned that the company was not focussing enough attention\non its airline.\n    UAL has stood firm on its strategy. It is emphasizing its\nnew focus by changing its name to Allegis, as of May one.\n    But takeover speculation has escalated, and Wall Street has\nbeen busy calculating break up values well in excess of 100\ndlrs per share. Traders today described the buying in UAL as\nwidespread, indicative to them that big institutions believe\nthe stock is in play.\n    Market sources have said that although Trump attracted\nattention to the stock, the pilots proposal acted as a\ncatalyst, kicking off a new round of speculation and perhaps\nthrowing the company into the hands of another buyer.\n    \"The first domino is you have an investor with a\nconsiderable stake. the second domino is the union. That type\nof attitude has been a precursor to airline deals in the past,\"\nsaid Pettee.\n    \"What\'s interesting is the values are there. There\'s\nsomething for everybody,\" he said.\n\n Reuter\n&#3;',0
'HARTMARX &lt;HMX> TARGETS EARNINGS GROWTH Hartmarx Corp, following a year of\nrestructuring, continues to target record earnings for fiscal\n1987, Chairman John Meinert told the annual meeting.\n    Meinert reiterated an earlier comment that earnings for the\nremainder of the year must double the 1986 level to meet that\ngoal. In fiscal 1986, ended November 30, 1986, Hartmarx\nreported earnings of 24.8 mln dlrs, or 1.20 dlrs a share, down\nfrom the prior year\'s 42.7 mln dlrs, or 2.25 dlrs a share.\n    The 110-year-old apparel manufacturer recently posted\nfirst-quarter earnings of 54 cts a share, up from 40 cts a year\nago.\n    Meinert told shareholders Hartmarx has no plans to sell any\nof its divisions. He added, \"We have the financial capacity to\ntake advantage of acquisitions.\"\n    In 1987, Meinert said the company will open five new and 10\nredesigned Kuppenheimer direct-to-consumer stores in Atlanta,\nDetroit, St. Louis, Washington, D.C. and San Francisco.\n    He said the company\'s women\'s apparel continues to grow,\nand Hartmarx has on the drawing board a Briar concept store\nwhich will feature ties, shirts and some tailored clothing.\n Reuter\n&#3;',0
'FED\'S HELLER SEES RETURN TO SLOWER MONEY SUPPLY GROWTH\n ',0
'GENERAL ELECTRIC CO 1ST QTR SHR 1.37 DLRS VS 1.18 DLRS\n ',0
'GHANA TO BUY CRUDE OIL FROM IRAN Ghana will import 15,000 tonnes of crude\noil annually from Iran under an agreement reached in Tehran\ntoday, the Iranian news agency IRNA reported.\n    The agency, received in London, said the accord was reached\nbetween Iranian Oil Minister Gholamreza Aqazadeh and a visiting\nGhanaian delegation headed by Foreign Minister Obed Asamoah.\n    IRNA said that under the agreement, Iran will also provide\ntechnical and scientific assistance in manpower training and\noil exploitation, production and refining.\n Reuter\n&#3;',0
'FED\'S HELLER SAYS MONETARY GROWTH TO BE SLOWER Robert Heller, a member of the\nFederal Reserve Board, said he expects \"more modest levels\" of\ngrowth in the money supply this year.\n    \"In my view, this would not only be a logical, but also a\nmost desireable development,\" he said in a speech prepared for\ndelivery to an economic forum at Chapman College in Orange,\nCalif.\n    A text was released in Washington.\n    He said the effect of lower inflation and financial\nderegulation on monetary aggregates was now largely finished.\n    \"Consequently, monetary growth may return to more modest\nlevels,\" Heller said. He noted growth in the money supply slowed\nafter mid-January.\n    \"I would not be surprised at all if the monetary aggregates\nwere to grow rather slowly during the balance of the year as\nwell,\" he added.\n    Heller said there was a danger of renewed price inflation.\n    \"The pricing behavior of American producers in response to\nprice increases of their foreign competitors will be crucial\nfor our economic future,\" he said.\n    Widespread domestic price rises in response to rising\nimport prices would \"generalize the inflationary forces\nemanating from the foreign trade sector\" and might not gain more\nmarket share for U.S. producers.\n    \"A return to the stagflation of the late 1970s may well be\nthe result of such a behavior pattern,\" Heller warned.\n    He said \"we at the Federal Reserve will have to be\ndisciplined in our conduct of monetary policy.\" \n    Heller said said the government should also exercise fiscal\ndiscipline and cut the deficit by spending restraint rather\nthan new taxes.\n    \"The imposition of new taxes would tend to rekindle\ninflation and certainly would not make us more competitive in\ninternational markets,\" Heller said.\n    He said the U.S. economy should expand by nearly three pct\nduring 1987, aided by higher exports to Europe and Canada.\n    A free trade agreement currently being negotiated with\nCanada \"would be exceedingly helpful in allowing American\nproducers to compete more effectively in that country,\" Heller\nsaid.\n Reuter\n&#3;',0
'GENERAL ELECTRIC CO &lt;GE> 1ST QTR NET Shr 1.37 dlrs vs 1.18 dlrs\n    Net 624 mln vs 537 mln\n    Sales 8.32 billion vs 5.88 billion\n    NOTE: Prior year does not include results of RCA Corp.\n Reuter\n&#3;',0
'ENERGY DEVELOPMENT &lt;EDP> HAD YEAR LOSS Energy Development Partners Ltd said\nit had an operating loss for the year ended December 31 of 2.4\nmln dlrs, or 40 cts per share.\n    But it said a 41.5 mln dlr non-cash writeoff of oil and gas\nproperties taken in the first quarter resulted in a net loss of\n43.9 mln dlrs, or 7.21 dlrs per share.\n    Energy Development Partners, is a limited partnership which\nbegan operating in September 1985.\n    Full year revenues totaled 23.7 mln dlrs, the company also\nsaid.\n    It said proved reserves at December 31 totaled 4.8 mln\nbarrels of oil and 88 mln cubic feet of natural gas.\n Reuter\n&#3;',0
'INDUSTRIAL NATIONS RECONVENE FOR TALKS Financial ministers and central\nbankers of leading industrial nations reconvened here this\nafternoon.\n    Canadian Finance Minister Michael Wilson said on entering\nthe meeting the ministers would review the Paris agreement.\nAsked if he was satisfied with West German and Japanese\nstimulus, Wilson replied, \"They could do a little more.\"\n    French Finance Minister Edouard Balladur, meanwhile,\nconfirmed there would be a communique at the end of the\nmeeting.\n    Finance ministers and central bankers of Britain, FRance,\nCanada and West Germany were seen by Reuter correspondents\nreturning to a Treasury building.\n    Japanese officials and Bundesbank President Karl Otto Poehl\ndid not appear to have left the building at the end of earlier\nGroup of Five talks which broke up around 2 p.m. local time\n(1800 gmt).\n    There was no sign, however, of the Italian delegation whose\nposition was thrown into question this morning by the\nresignation of the Christian Democratic wing of Italy\'s\nSocialist-led government.\n    European monetary officials said later that the Italian\ndelegation was inside the building.\n    This meant that a full blown meeting of the Group of Seven\nwas in progress.\n Reuter\n&#3;',0
'U.S. MEAT, POULTRY INSPECTION CALLED FAULTY The U.S. meat and poultry inspection\nprograms are incapable of protecting consumers from\ncontaminated products, groups representing inspectors and\nconsumers charged.\n    \"The whole trend of inspection for the last 10 years has\nbeen to corrupt and to degrade the system where today the\npublic is at constant risk to contaminated and adulterated\nmeat,\" Kenneth Blaylock, president of the American Federation of\nGovernment Employees, told a House Agriculture subcommittee.\n    \"The American consumer has little reason to feel confident\nabout the safety of meat and poultry being offered to him\ntoday,\" said Rodney Leonard, executive director of the Community\nNutrition Institute.\n    \"Company management is less concerned about the risk to\nhealth than about raising plant output and company profits,\"\nLeonard told a hearing of the House Agriculture Subcommittee on\nLivestock, Dairy and Poultry.\n    Kenneth Morrison, staff associate at the Government\nAccountability Project, said inspectors consistently disclose\nviolations of federal law, demonstrating a \"serious breakdown in\nthe entire inspection system.\"\n    Morrison told of chicken fat for flavoring being\ncontaminated by \"intestines dragging in a water trough used to\nflush away the condemned product, fecal material, human spit,\nchewing gum and paper towels used by plant employees to blow\ntheir noses.\"\n    Donald Houston, administrator of the U.S. Agriculture\nDepartment\'s Food Safety and Inspection Service, FSIS, defended\nthe government\'s program, calling it \"one of the most respected\npublic health programs in the world.\"\n    FSIS inspects an estimated 127 mln head of cattle and 4.5\nbillion chicken and turkeys every year.\n    Houston said inspection programs have kept pace with\nchange, but conceded that the danger of chemical residues in\nthe meat and poultry supply has increased.\n    He also said that, although he was confident the bacterium\nsalmonella eventually could be eradicated, it would take time\nand much money to contain the growing problem.\n    Salmonella, which in extreme cases can cause death, is\nfound in approximately 37 pct of U.S. broilers, 12 pct of raw\npork and three to five pct of raw beef, Houston said.\n    The number of reported cases has doubled over the past 20\nyears, he said, to 40,000 cases annually.\n    \"We certainly really have not found an effective means of\nturning this disease around,\" said Rep. James Olin (D-Va.)\n    The National Research Council recommended in 1985 that FSIS\nintensify efforts to develop rapid diagnostic procedures for\ndetecting microoganisms.\n    But the meat and poultry industries have said such controls\nwould cost too much.\n    \"Hopefully we will not overreact by installing unnecessarily\ncomplicated procedures that may become obstacles to the real\ngoal of providing an increasingly safer, more nutritious and\neconomical meat supply for consumers,\" Stanley Emerling,\nexecutive vice president of the National Association of Meat\nPurveyors, said.\n    Blaylock, speaking on behalf of food inspectors, said a new\nprogram allowing elimination of USDA inspection functions at\ncertain plants \"voids the law in letter and spirit, and must be\nrepealed or we will see rising consumer fraud and an epidemic\nof death and illness for which there will be no prevention nor\nlegal recourse.\"\n    Subcommittee Chairman Charles Stenholm (D-Tex.) said the\npanel would hold a hearing on salmonella June 2.\n Reuter\n&#3;',0
'CHRYSLER &lt;C> RENAULT DELAY AM MOTORS &lt;AMO> PACT Chrysler Corp and Regie Natiionale des\nUsines Renault said they agreed to extend by up to two weeks\nthe period for reaching definitive agreement on Chrysler\'s\nproposed 1.5 billion dlr takeover of American Motors Corp.\n    The letter of intent signed by Chrysler and Renault on\nMarch nine set April nine as the target date for completing\nnegotiations.\n    However, the letter also allowed room for an extension of\nthat date to April 23 if an agreement could not be reached.\n    The two companies said they \"now plan to complete work by\nApril 23.\"\n    Chrysler and Renault said, \"Given the complex nature of the\ndeal, the need for additional time was to be expected.\"\n    The March letter of intent between the two companies says\nthat Chrysler could ask Renault to extend the agreement date\n\"in the event that prior to April 9, 1987, Chrysler discovers\nan unforeseen problem in the course of its \'due diligence\'\ninvestigation of the company,\" referring to American Motors.\n    A Chrysler spokeswoman would not say whether some problem\nhad cropped up in the talks. She stuck by the company\'s\nstatement that more time was needed because the talks are\ncomplex. \"That is our definition of the delay,\" she said.\n    Under the previous agreement between Chrysler and Renault,\ntheir letter of intent would be terminated on April nine or\nwhen an agreement was reached. But the letter could be amendend\nby a written agreement by both companies.\n    The Chrysler spokeswoman said, \"We are still working toward\na definitive agreement.\" Said another Chrysler official who is\nnot part of the talks but who would be told if the deal were in\ntrouble: \"There are no glitches.\"\n    Analysts also downplayed the significance of the delay. \"I\ncan\'t visualize where they wouldn\'t want it to be done,\" said\nDonaldson Lufkin Jenrette analyst Richard Henderson.\n Reuter\n&#3;',0
'RITE AID CORP &lt;RAD> SETS DIVIDEND Qtly div 16-1/2 cts vs 16-1/2 cts\n    Pay April 27\n    Record April 20\n Reuter\n&#3;',0
'AIRSENSORS INC &lt;ARSN> 3RD QTR JAN 31 LOSS Shr loss five cts vs loss six cts\n    Net loss 696,777 vs loss 598,095\n    Sales 472,812 vs 41,454\n    Nine mths\n    Shr loss 15 cts vs loss 17 cts\n    Net loss 2,194,482 vs loss 1,751,884\n    Sales 800,336 vs 151,884\n Reuter\n&#3;',0
'CANADA PLANS TO MONITOR STEEL IMPORTS, EXPORTS, TRADE MINISTER SAYS\n ',0
'GENERAL ELECTRIC &lt;GE> 1ST QTR HELPED BY RCA General Electric Corp said its\nfirst quarter results were significantly higher due to the\nstrong results of RCA, which was acquired last year.\n    General Electric also attibuted continued strong\nperformances in plastics, major appliances and the Employers\nReinsurance Corp for its strong quarter.\n    GE recorded net earnings for the first quarter 1987 of 624\nmln dlrs, or 1.37 dls per shr, up 16 pct from 537 mln dlrs, or\n1.18 dlrs per share for the same quarter a year ago.\n    General Electric chairman John Welch Jr reiterated the\ncompany\'s outlook for 1987 in which it expects double-digit GE\nearnings growth for the year. He said the first quarter results\nare in line with those expectations.\n    General Electric cited the strong results in TV network and\nstation operations of the National Broadcasting Co, which was\nnot part of GE in the first quarter of 1986, as one reason for\nits strong earnings.\n    It also noted that aircraft engine operating profit was\nmuch higher than a year ago, caused by a increase in shipments\nthan the 1986 quarter, which was impacted by a strike.\n    Aerospace revenues were sharply higher in this year\'s first\nquarter from a year ago, mainly because of the inclusion of\nRCA\'s aerospace and defense business, the company said.\n    In addition, consumer products revenues were up from last\nyear, mainly because of including sales of RCA video products.\n    General Electric said restructuring provisions of 308 mln\ndlrs before taxes to implement various strategic moves were\ncharged against operations in the first quarter of 1987. It\nadded that there was a one-time gain of 281 mlns dlrs after\ntaxes from an inventory accounting change.\n    And technical products revenues and operating profit were\nahead of last year, led by a strong increases in medical\nsystems volume and the inclusion this year of RCA\'s\ncommunications and related services.\n Reuter\n&#3;',0
'TECK STILL IN TALKS ON B.C. COPPER VENTURE &lt;Teck Corp> said it\nwas continuing talks about joining a joint copper venture at\nHighland Valley, British Columbia, held by affiliates Cominco\nLtd &lt;CLT> and &lt;Lornex Mining Corp>, but did not know when\nnegotiations would be completed.\n    Teck vice-president of administration John Guminski said in\nreply to a query that the talks had been \"ongoing for a long\ntime.\" He declined to speculate on the outcome.\n    Cominco, 29.5 pct owned by a consortium led by Teck, is\noptimistic that the talks will soon be concluded, spokesman Don\nTownson told Reuters.\n    \"I think all partners are hopeful that the situation will be\nresolved,\" Cominco\'s Townson said.\n    \"We\'re optimistic that they will be concluded shortly,\" he\nadded. Townson declined to specify when the talks might end.\n    Cominco and Teck\'s 22 pct-owned Lornex agreed in January\n1986 to form the joint venture, merging their Highland Valley\ncopper operations.\n    Cominco and Lornex share equally in control and management\nof the Highland Valley operations, while Cominco has a 55 pct\nshare of production and Lornex receives 45 pct.\n    For the six months following July 1, 1986, when the venture\nofficially started production, Highland Valley had total ore\nmilled of 22.6 mln short tons, grading an average of 0.41 pct\ncopper, Townson said.\n    Cominco\'s share of production was 43,000 short tons of\ncopper contained in concentrate, 1,200 short tons of Molybdenum\nin concentrate, 340,000 ounces of silver and 800 ounces of\ngold, he said.\n    A consortium, 50 pct owned by Teck and 25 pct each by MIM\n(Canada) Inc and Metallgesellschaft Canada Ltd, acquired its\nCominco stake last year from Canadian Pacific Ltd &lt;CP>.\n Reuter\n&#3;',0
'BANPONCE CORP &lt;BDEP> 1ST QTR NET Shr 1.08 dlrs vs 1.00 dlr\n    Net 6,215,538 vs 5,757,013\n Reuter\n&#3;',0
'XEBEC &lt;XEBC> TO REPORT 2ND QTR LOSS Xebec Corp said it expects to\nreport a loss for its second quarter ended April three, due\nprincipally to a decline in sales to International Business\nMachines Corp &lt;IBM>, the company\'s largest customer.\n    Xebec also said it expects revenues to total about 23 mln\ndlrs.\n    The company reported a second quarter loss last year of 1.9\nmln dlrs, or 14 cts per share, on 23.9 mln in revenues.\n    Xebec said IBM has historically accounted for about 50 pct\nof the company\'s revenues, but that total fell to 20 pct during\nthe quarter just ended.\n    IBM had used Xebec\'s hard disk drive controller products in\nthe IBM PC/XT, a product which IBM is phasing out.\n    Xebec said it intends to continue streamlining its\noperations in light of the loss of business.\n    The company also said it has already consolidated two of\nits plants in Nevada and it now plans to sell unused and\nsurplus assets to provide additional liquidity.\n Reuter\n&#3;',0
'CCC ACCEPTS EXPORT BID FOR WHEAT FLOUR TO IRAQ The Commodity Credit Corporation has\naccepted a bid for an export bonus to cover a sale of 12,500\ntonnes of wheat flour to Iraq, the U.S. AGriculture Department\nsaid.\n    The bonus awarded was 113.0 dlrs per tonne and will be paid\nto Peavey Company in the form of commodities from CCC stocks.\n    The wheat flour is for delivery May 15-June 15, 1987, the\ndepartment said.\n    An additional 162,500 tonnes of wheat flour are still\navailable to Iraq under the Export Enhancement Program\ninitiative announced January 7, 1987, USDA said.\n Reuter\n&#3;',0
'EGYPT AUTHORIZED TO BUY PL-480 WHEAT - USDA Egypt has been authorized to purchase\nabout 200,000 tonnes of U.S. wheat under an existing PL-480\nagreement, the U.S. Agriculture Department said.\n    It may buy the wheat, valued at 22.0 mln dlrs, between\nApril 15 and August 31, 1987, and ship it from U.S. ports by\nSeptember 30, the department said.\n Reuter\n&#3;',0
'CATERPILLAR &lt;CAT> REAFFIRMS FIRST QUARTER OUTLOOK Caterpillar Inc, in remarks\ndelivered at its annual meeting in San Francisco, reiterated\nits expectation of a loss in the first quarter.\n    It said results would be hurt by a 25 mln dlr one-time\ncharge by Caterpillar Mitsubishi, a 50-pct owned affiliate. The\ncompany said it expected profit from operations for the full\nyear to improve over 1986.\n    In remarks prepared for delivery to shareholders, President\nPeter Donis said Caterpillar\'s targeted five pct cost reduction\nin 1987 \"will be difficult to achieve because the weaker dollar\nhas limited opportunities to obtain lower material costs.\"\n Reuter\n&#3;',0
'BROKER BOOSTS ZONDERVAN &lt;ZOND> STAKE TO 7.1 PCT An investor group headed by\nMinneapolis, Minn., broker Jeffrey Wendel said it raised its\nstake in Zondervan Corp to 292,900 shares, or 7.1 pct of the\ntotal outstanding, from 238,900 shares, or 5.8 pct.\n    In a filing with the Securities and Exchange Commission,\nthe Wendel group said it bought 54,000 Zondervan common shares\nbetween March 24 and April 3 at prices ranging from 27.87 to\n29.96 dlrs a share.\n    The Wendel group has acted in cooperation with another\nshareholder group headed by London investor Christopher Moran,\nwho sought unsuccessfully last year to take over Zondervan.\n Reuter\n&#3;',0
'KIENA TWO-FOR-ONE SHARE SPLIT APPROVED &lt;Kiena Gold Mines Ltd> said shareholders\napproved a previously reported proposed two-for-one common\nstock split.\n    Record date of the split will be April 21, Kiena said.\n Reuter\n&#3;',0
'HANOVER INSURANCE &lt;HINS> RAISES DIVIDEND Hanover Insurance Co said its\nboard declared a quarterly dividend of nine cts per share\npayable May 15 to holders of record April 17.\n    The dividend comes after a two-for-one stock split,\neffective April 10, which was approved by shareholders today.\n    The company paid a dividend of 14 cts per share on a\npre-split basis.\n Reuter\n&#3;',0
'DAY INT\'L &lt;DAY> TO SELL UNIT Day International Corp said it has\nentered into a letter of intent to sell its Allen Industries\nInc unit to a group including the unit\'s current management.\n    Day said the sale could enable Day to accelerate its\nearnings for its current fiscal year ending October 31, 1987.\n    \"Net earnings for the full year (ending October 31)\nshould be in the ball park of some analysts\' estimates of 16\nmln dlrs to 19 mln dlrs,\" Richard Jacob, Day chairman and chief\nexecutive officer said.\n    Day reported earnings of 3.1 mln dlrs, or 39 cts a share,\nin fiscal 1986.\n    Day said the agreement is subject to the preparation and\nnegotiation of a definitive agreement and the ability of the\ngroup to obtain financing.\n Reuter\n&#3;',0
'RITE AID CORP &lt;RAD> SETS QUARTERLY DIVIDEND Qtly div 16.5 cts vs 16.5 cts\n    Pay April 27\n    Record April 20\n Reuter\n&#3;',0
'SOUTH KOREA CORN IMPORTS MAY INCREASE - USDA South Korea\'s purchase of about 2.4\nmln tonnes of U.S. corn in the past six months -- close to\ndouble last year\'s total -- indicates that imports from the\nUnited States, as well as total imports are set for a dramatic\njump, the U.S. Agriculture Department said.\n    In its World Production and Trade Report, the department\nsaid total South Korea corn imports for the 1986/87 season\n(Oct-Sept) are estimated at 4.3 mln tonnes, with about 3.4 mln\ntonnes from the United States.\n    During the 1985/86 season, imports totaled only 1.3 mln\ntonnes of U.S. corn out of a total of 3.6 mln tonnes.\n    Ite appears the Koreans are shifting back to U.S. corn in\nlight of competitive U.S. prices and uncertain supplies from\nChina, Argentina and South Africa, it said.\n Reuter\n&#3;',1
'MEXICAN CATTLE IMPORTS TO BE BRANDED - USDA All steers imported into the United\nStates from Mexico must now be branded with the letter M on the\nright jaw, the U.S. Agriculture Department said.\n    In its World Production and Trade Report, the department\nsaid the branding is necessary to improve surveillance for\nbovine tuberculosis because it provides a permanent way to\nidentify Mexican steers.\n    The requirement is not expected to affect the number of\nMexican steers imported into the United States and the brand\nwill be applied before the animals arrive at U.S. ports of\nentry.\n    Last November, the Mexican Government authorized an export\nquota of nearly 1.1 mln head of live cattle for the 1986/87\nseason (Aug-July), most of which goes to the United States.\n Reuter\n&#3;',0
'VULCAN &lt;VUL> SEES FIRST QUARTER OPERATING LOSS Vulcan Corp\'s first quarter operating\nresults will show a loss, Chairman Lloyd I. Miller told told\nthe annual meeting.\n    The company reported a profit of 365,883 dlrs, 23 cts a\nshare, for the first quarter last year with one cent a share\ncoming from non-operating factors, a spokesman said.\n    Miller attributed the expected loss to completion of the\npurchase transfer and consolidation of operating assets of the\nO\'Sullivan Rubber Division, saying this was proving more costly\nand taking more time than originally anticipated.\n    Vulcan is working to resolve the problems, Miller told\nshareholders, adding it appears it will take most of 1987 to\nfind solutions.\n   \n Reuter\n&#3;',0
'UAL &lt;UAL> HAS NO COMMENT ON STOCK RISE UAL Inc, citing company policy, told\nthe New York Stock Exchange it would not comment on the unusual\nrise in its stock.\n    UAL, parent of United Airlines, closed up 6-1/4 at 72 on\nvolume of 3.9 mln shares.\n    Wall Street traders said UAL\'s stock soared in response to\nthe the proposed 4.6 billion dlr buyout offer by United Air\'s\npilots union and on a general rise in air fares throughout the\nindustry.\n Reuter\n&#3;',0
'STRATA CORP &lt;STATA> YEAR DEC 31 LOSS Shr loss 1.11 dlrs vs loss 1.53 dlrs\n    Net loss 7.1 mln vs loss 8.8 mln\n    Revs 3.1 mln vs eight mln\n Reuter\n&#3;',0
'STRATA &lt;STATA> 1986 EARNINGS REPORT QUALIFIED Strata Corp said its 1986\nearnings report contained a qualified opinion from its\nindependent auditors.\n    Strata said it owed 1.4 mln dlrs in overdue interest to its\nlender at the end of 1986, and the entire 10.9 mln dlr\nprinciple has been classified as a liability.\n    The company, which has an agreement to merge with &lt;Lomak\nPetroleum Inc>, lost 7.1 mln dlrs in 1986 against a loss of 8.8\nmln dlrs a year earlier.\n Reuter\n&#3;',0
'DAYTON HUDSON CORP &lt;DH> VOTES QUARTERLY PAYOUT Qtly div 23 cts vs 23 cts prior qtr\n    Pay 10 June\n    Record 20 May\n Reuter\n&#3;',0
'VULCAN CORP &lt;VUL> REGULAR DIVIDEND Qtly div 20 cts vs 20 cts in prior qtr\n    Payable June 10\n    Record May 22\n Reuter\n&#3;',0
'NAT\'L DISTILLERS SAYS IT AGREES TO SELL SPIRITS UNIT FOR 545 MLN DLRS TO AMERICAN BRANDS\n ',0
'USDA SEEKS COMMENTS ON GRAIN DISCOUNT SCHEDULE The U.S. Agriculture Department is\nseeking public comments on the question of adjusting the\nCommodity Credit Corporation\'s (CCC) discount and premium\nschedules to improve the quality of grain it accepts as loan\ncollateral or under price support programs.\n    The premiums and discounts schedule are based on quality\nfactors such as moisture content and kernel damage. The\nschedule stipulates the premiums and discounts used for valuing\ngrain the CCC accepts or purchases during the year.\n    The department said it is possible that producers could be\nencouraged to delivery higher quality grain to CCC by adjusting\nthe premiums and discounts.\n    Comments are due by April 24 and a report to Congress is\nrequired by law by May 10.\n Reuter\n&#3;',0
'CASCADE IMPORTERS UNIT ACQUIRES PARIS COMPANY &lt;Cascade Importers Inc USA>\'s\nCascade International Europa GmbH of West Germany, said it\ntentatively acquired worldwide rights for the products of Madam\nGre from the Bernard Tapie Group in Paris.\n    The agreement calls for Cascade to have the rights for the\nmanufacturing and trading of perfumes, skin care and treatment\nproducts, and cosmetics of the group, it said.\n    Cascade said the agreement also includes the exclusive\nrights to trade through duty-free channels worldwide the\ndesigner Gres accessories.\n    In addition, Cascade said it was granted an option to\npurchase all the assets including the plant and equipment\nlocated in France. \n    The company said the cosmetic product line in the U.S.\nmarket alone could represent 20 mln dlrs in revenue.\n Reuter\n&#3;',0
'ARMEL INC &lt;AML> 4TH QTR LOSS Oper shr loss 79 cts vs loss 2.32 dlrs\n    Oper net loss 2,536,896 vs loss 6,562,472\n    Revs 13.8 mln vs 14.5 mln\n    Year\n    Oper shr loss 59 cts vs loss 2.35 dlrs\n    Oper net loss 1,712,896 vs loss 5,747,472\n    Revs 43.6 mln vs 44.2 mln\n    NOTE: 1986 excludes charge of 12 cts per share in the\nfourth quarter and gain of 11 cts per share in the year.\n\n Reuter\n&#3;',0
'NATIONAL DISTILLERS &lt;DR> TO SELL SPIRITS UNIT National Distillers and Chemical Corp\nsaid it signed a definitive agreement to sell its spirits\ndivision for 545 mln dlrs to James Beam Distilling Co, a unit\nof American Brands Inc &lt;AMB>.\n    The sale of the spirits division was made under the\ncompany\'s previously announced plan to sell its spirits and\nwines businesses, it said. The wine business was sold last\nmonth for 128 mln dlrs to Heublein Inc, part of Grand\nMetropolitan PLC, National Distillers said.\n    The purchase price will be paid in cash, a National\nDistillers spokeswoman said.\n    The sale permits National to focus on its core businesses,\nchemicals and propane marketing.\n    Proceeds from the sale will be used to repay debt and for\nother corporate purposes, the company said.\n    In a separate statement, American Brands said the sale\nwould be for 545 mln dlrs plus the assumption of liabilities.\n    The sale would be subject to compliance with the\nHart-Scott-Rodino Antitrust Improvements Act and other\nregulatory approvals, the company said.\n    National\'s distilled spirits business has sales of about\n580 mln dlrs, American Brands said. National\'s spirits brands\ninclude Gilbey\'s gin and vodka, DeKuyper Liqueurs and Windsor\nSupreme Canadian Whisky.\n Reuter\n&#3;',0
'MANAGEMENT SCIENCE &lt;MSAI> LOSS MAY TOP 20 CTS Management Science America Inc,\nclarifying statements made earlier today, said its loss for the\nfirst quarter could exceed 20 cts a share because of\nnon-recurring expenses associated with the acquisition of\nseveral companies, including Comserv Inc.\n    Earlier today, the company told a meeting of investors here\nthat the first quarter loss would be 20 cts a share.\n   \n Reuter\n&#3;',0
'WOJNILOWER SEES DROP IN U.S. INTEREST RATES The Federal Reserve will promote lower\ninterest rates this year to sustain world economic growth,\nFirst Boston Corp managing director Albert Wojnilower said.\n    As much as the Fed would like to take a tough line against\ninflation, it cannot act to slow the growth of credit without\nsubverting national U.S. economic policy.\n    \"On selected occasions when the dollar seems steady, and,\nbecause the trade deficit is not responding, the United States\ndecided to push Germany and Japan harder to meet their\ncommitments to economic growth, the Federal Reserve will do its\npart by moving rates down,\" Wojnilower said in a report.\n    \"Justifiably not anticipating either a recession or\nseriously higher interest rates, securities market participants\nhave seen little to fear,\" Wojnilower said.\n    He said last week\'s \"hiccup\" in money and currency rates\nand bond and stock prices was probably caused by Japanese\nwindow dressing for March 31 end-of-fiscal-year accounts.\n    Wojnilower said the U.S. probably enjoyed above-average\neconomic growth in the first quarter. However, the pick-up\nseems to reflect an unsustainable pace of inventory building\nand the prospect for the full year is still for real gross\nnational product growth of about 2-1/2 pct, he said.\n Reuter\n&#3;',0
'RAYTECH &lt;RAY> BUYS WEST GERMAN COMPANY Raytech Corp said it acquired\n&lt;Raybestos Industrie-Produkte GmBH> for 7.5 mln dlrs.\n    Raybestos, with manufacturing facilities in Radevormwald,\nWest Germany, produces friction materials for use in clutch and\nbraking applications.\n Reuter\n&#3;',0
'INTERCARE &lt;CARE> TO POST 4TH QTR LOSS Intercare Inc said it\nexpects to report a substantial loss for its fourth quarter\nended January 31 because of a writeoff of expenses associated\nwith its recently terminated debt and equity offering.\n    The company also said the write off includes expenses\nassociated with the acquisition of U.S. Medical Enterprises\nInc, and with the restructuring of certain partnerships.\n    Intercare also said it increased its reserve against\naccounts receivable.\n    Executives at the company were not immediately available to\nprovide additional details.\n    Intercare also said it has implemented a workforce\nreduction, closed two medical centers and is considering\nadditional closings as a means of reducing a working capital\ndeficit.\n Reuter\n&#3;',0
'CANADA TO MONITOR STEEL IMPORTS, EXPORTS Canada plans to monitor steel shipments\nflowing in and out of the country in an attempt to appease\nconcerns in the U.S. over the high level of Canadian steel\nexports, Trade Minister Pat Carney said.\n    \"To help maintain our open access to the U.S. steel market,\nthe government is taking further action to ensure we have more\naccurate data on exports and imports and that Canada is not\nused as a backdoor to the U.S. market by offshore suppliers,\"\nCarney said.\n    Carney also said Canadian companies were being asked to\nexercise prudence in the U.S. market and both countries were\nconsidering establishing a joint commission to study the\ngrowing steel problem.\n    Carney told the House of Commons she will soon announce an\namendment to the Exports and Imports Permits Act to set up the\nmonitoring program.\n    Canadian steel shipments to the U.S. have risen to 5.7 pct\ncent of the U.S. market in recent months, almost double the\nlevel just two years ago, Canadian trade officials said.\n    The increase in Canadian shipments comes at a time of\ngrowing anger in the U.S. over rising steel imports from\nseveral countries in the face of a decline in the domestic\nsteel industry.\n    Some U.S. lawmakers have proposed Canada\'s share of the\nAmerican market be limited to 2.4 pct.\n Reuter\n&#3;',0
'UNITED TECH &lt;UTX> SEES NO EARNINGS IMPACT United Technologies Corp said\nthe decision by an international consortium not to develop a\nnew engine would have no impact on 1987 or 1988 earnings.\n    &lt;International Aero Engines>, IAE, 30 pct owned by United\nTechnologies\' Pratt and Whitney division, has decided not to\nlaunch a superfan version of its V2500 engine.\n    \"We\'ve told analysts that IAE\'s decision not to launch a\nfull development program of the IAE superfan for certification\nin 1991 will have no short term impact on earnings,\" a United\nTechnologies spokesman told Reuters.\n    Short term refers to 1987 and 1988, the spokesman said. He\ndeclined to elaborate.\n    IAE\'s other owners are Rolls Royce PLC, &lt;Japanese Aero\nEngines Corp>, Fiat SPA and &lt;MTU> of West Germany.\n    Analysts are estimating United Technologies will earn 3.75\ndlrs to 4.50 dlrs a share in 1987. It reported earnings of 36\ncts a share in 1986, which included two large writeoffs.\n Reuter\n&#3;',0
'STEWART AND STEVENSON &lt;SSSS> 4TH QTR NET Shr profit 72 cts vs profit 14 cts\n    Net profit 3,309,000 vs profit 609,000\n    Revs 72 mln vs 65 mln\n    Year\n    Shr nil vs loss 4.13 dlrs\n    Net profit 1,000 vs loss 19 mln\n    Revs 249 mln vs 269 mln\n    NOTE: Full name Stewart and Stevenson Services Inc.\n Reuter\n&#3;',0
'WESTAMERICA BANCORP &lt;WAB> 1ST QTR NET Shr 98 cts vs 63 cts\n    Net 2,602,000 vs 1,571,000\n    Loans 834.8 mln vs 729.0 mln\n    Deposits 1.04 billion vs 942.1 mln\n    Assets 1.15 billion vs 1.02 billion\n Reuter\n&#3;',0
'U.S.SENATE LIFTS SOME BANS ON NATURAL GAS The Senate unanimously approved\nlegislation to lift a ban on new construction of natural\ngas-fired power plants and other large industrial gas-burning\nplants.\n    The bill, sponsored by Senate Energy Committee chairman\nBennett Johnston, also repeals mandatory incremental pricing of\nnatural gas which was designed to protect residential consumers\nfrom major price increases by forcing some industrial users to\npay higher than market prices.\n    \"This legislation will open up new natural gas markets,\" the\nLousiana Democrat said.\n    The gas restrictions were enacted in 1978 in response to a\nshortage of natural gas and predictions of higher prices.\n    \"Now both oil and gas prices are severely depressed,\"\nJohnston said.\n    In a compromise with coal producers, the bill requires new\nbaseload electric powerplants be designed to accomodate\nmodifications necessary to burning coal or another alternate\nfuel.\n Reuter\n&#3;',0
'SOUTHEAST BANCORP &lt;STB> ACTS ON BRAZILIAN DEBT Following the lead of other major\nbanks, Southeast Banking Corp told the Securities and Exchange\nCommission it would place 54.2 mln dlrs of medium- and\nlong-term Brazilian debt on non-accrual or cash status.\n    Based on current interest rates, it estimated in a filing\nthat the move will reduce net income by about 800,000 dlrs in\nthe first quarter and 3.2 mln dlrs for all of 1987. The company\nalso said it did not believe the Brazilian debt situation would\nhave a \"material adverse\" effect on it.\n    It also said it would issue 1,080,000 common shares in\nconnection with its acquisition of Popular Bancshares Corp.\n Reuter\n&#3;',0
'WILLIAMS &lt;WMB> SEES FLAT PIPELINE VOLUMES IN 1987 Williams Cos said it expected oil and\nfertilizer transportation volumes to be flat in 1987 but said\noperating profits from the pipeline unit should improve from\n49.4 mln dlrs earned last year when a seven mln dlr special\ncharge was incurred.\n    Williams Pipeline Co took the charge against earnings in\n1986 for the removal of more than 500 miles of old pipeline\nfrom service and for casualty losses. Companywide, Williams had\na net loss of 134 mln dlrs on total revenues of 1.85 billion\ndlrs, a decline from profits of 32 mln dlrs on sales of 2.46\nbillion in 1985.\n    In its annual report, Williams said its Northwest Pipeline\nCorp and Williams Natural Gas Co had natural gas costs that are\namong the lowest in the nation, averaging 2.04 dlrs and 2.07\ndlrs per mcf, respectively, last year. Total natural gas\nreserves for both units declined to 10,010 billion cubic feet\nin 1986 from 11,334 billion cubic feet the previous year.\n    The company said its Williams Natural Gas unit, which has\nless take-or-pay exposure than most major pipelines, should\nshow improvement in its 1987 operating results because of\nchanges tariff and federal tax rates.\n    The company\'s gas marketing business is expected to have\nsomewhat lower earnings in 1987 because of competition in its\noperating region, the annual report said. The gas marketing\nunit earned 26.0 mln dlrs on sales of 285.6 mln dlrs last year.\n    Williams also said it expected a substantial decline in its\ndebt to equity ratio this year because of more than 250 mln\ndlrs received in cash from the sale of Agrico Chemical Co and\nproceeds from the sale and leaseback of Williams\nTelecommunications Co. The telecommunications business, a\n2,000-mile fiber optic system for long distance use, will not\nbe profitable until late 1988, Williams said.\n Reuter\n&#3;',0
'SUPER VALU STORES INC &lt;SVU> 4TH QTR FEB 28 NET Shr 38 cts vs 25 cts\n    Net 28,339,000 vs 18,650,000\n    Sales 2.27 billion vs 1.97 billion\n    Avg shrs 74,485,000 vs 74,270,000\n    Year\n    Shr 1.20 dlrs vs 1.23 dlrs\n    Net 89,301,000 vs 91,247,000\n    Sales 9.07 billion vs 7.91 billion\n    Avg shrs 74,387,000 vs 74,184,000\n    NOTE: 1986 period ended February 22, 1986\n    1986 earnings include net loss of unconsolidated subsidiary\nof 162,000 dlrs in the quarter and 702,000 dlrs for the year\n Reuter\n&#3;',0
'PARKER DRILLING CO &lt;PKD> 2ND QTR FEB 28 LOSS Shr loss 70 cts vs loss 57 cts\n    Net loss 20,616,000 vs loss 16,854,000\n    Revs 23.1 mln vs 60.1 mln\n    Six mths\n    Shr loss 1.38 dlrs vs loss 1.02 dlrs\n    Net loss 40,780,000 vs loss 29,996,000\n    Revs 61.0 mln vs 114.9 mln\n Reuter\n&#3;',0
'COFFEE COULD DROP TO 70/80 CTS, CARDENAS SAYS International coffee prices could drop to\nbetween 70 and 80 cents a lb by next October if no agreement is\nreached to support the market, Jorge Cardenas, manager of\nColombia\'s National Coffee Growers\' Federation said.\n    Speaking at a forum for industrialists, he said one of the\nreasons was that the market was already saturated and that\nproducers will have excess production and stockpiles of 39 mln\n(60-kg) bags in 1987.\n    Today, May futures in New York settled at 107.90 cents a\nlb.\n Reuter\n&#3;',0
'HBO &lt;HBOC> URGES SHAREHOLDERS AGAINST ANDOVER HBO and Co said it sent a letter of\nstrongly urging shareholders not to sign any proxy cards sent\nby Andover Group.\n    ON March 30, Andover Group, a two-man general partnership\nwhich owns about seven pct of HBO\'s stock, filed preliminary\nproxy materials with the Securities and Exchange Commission\nseeking to nominate an alternative slate of directors at the\ncompany\'s April 30 annual meeting.\n    Andover had expressed an interest to acquire the company in\nSeptember 1986 but HBO has never received an offer from them,\nit said.\n    In addition, HBO said its financial condition is improving\nrapidly as the result of a significant restructuring\nimplemented in 1986.\n    It expects the company to report net income of about 40 cts\nper share in 1987 and a very significant increase in 1988.\n    For the year ended December 1986, the company reported a\nloss of 3.6 mln dlrs, or 16 cts per share.\n Reuter\n&#3;',0
'(CFCF INC) SIX MTHS FEB 28 NET Shr 51 cts vs 56 cts\n    Net 5,645,000 vs 6,153,000\n    Revs 45.9 mln vs 45.3 mln            \n Reuter\n&#3;',0
'UAP MAKES ACQUISITIONS &lt;UAP Inc> said it has acquired Slater\nAuto Electric Ltd, with two Ontario stores, and United Diesel\nEngine Parts Ltd, of Dartmouth, Nova Scotia, for undisclosed\nterms. It said the transactions, together with acquisitions\nearlier this year, will increase its annual sales by about 4.5\nmln dlrs.\n Reuter\n&#3;',0
'EIA SAYS DISTILLATE STOCKS UNCHANGED, GASOLINE OFF 200,000, CRUDE UP 6.3 MLN\n ',0
'USDA DISCUSSING PL 480 AGREEMENT WITH MOROCCO The U.S. Agriculture Department is\ncurrently discussing an amendment to a PL 480 agreement signed\nwith Morocco on January 22, but the mix of commodities under\nthe amendment has not been determined, a U.S. Agriculture\nDepartment official said.\n    The official noted the agreement signed in January provided\nfor the supply of about 55,000 tonnes of vegetable oil, 55,000\ntonnes of corn and 126,000 tonnes of wheat, all for delivery\nduring the current fiscal year, ending this September 30.\n    No purchase authorizations for the commodities provided in\nthe January agreement have been announced by the department.\n Reuter\n&#3;',1
'EIA SAYS DISTILLATE STOCKS UNCHANGED IN WEEK Distillate fuel stocks held in\nprimary storage were unchanged in the week ended April three at\n106.9 mln barrels, the Energy Information Administration (EIA)\nsaid.\n    In its weekly petroleum status report, the Department of\nEnergy agency said gasoline stocks were off 200,000 barrels in\nthe week to 248.1 mln barrels and refinery crude oil stocks\nrose 6.3 mln barrels to 335.8 mln.\n    The EIA said residual fuel stocks fell 100,000 barrels to\n38.1 mln barrels and crude oil stocks in the Strategic\nPetroleum Reserve (SPR) rose 1.1 mln barrels to 520.0 mln.\n    The total of all crude, refined product and SPR stocks rose\n9.4 mln barrels to 1,561.1, it said.\n Reuter\n&#3;',0
'HAWKEYE &lt;HWKB> 1986 ANNUAL REPORT QUALIFIED Hawkeye Bancorp\'s 1986 annual\nfinancial results were qualified by its auditors, according to\nthe annual report.\n    \"...there are conditions which may indicate that the\ncompany will be unable to continue as a going concern,\"\nauditors Deloitte Haskins and Sells said in Hawkeye\'s annual\nreport to shareholders.\n    Hawkeye reported a 1986 loss of almost 59 mln dlrs, citing\nan increase in its loan loss provision to 34.7 mln dlrs and\nrestructuring costs of 27 mln dlrs.\n    However, Hawkeye, with assets of 1.09 billion dlrs at 1986\nyear end, said it expects \"to have sufficient cash to meet its\nobligations for the next 12-month period.\"\n    Last July the bank holding company reached a debt\nrestructuring agreement which identifed 17 bank subsidiaries\nand five non-bank operations for disposition.\n    \"The restructuring has improved Hawkeye\'s financial\ncondition, but it does not assure that Hawkeye will be able to\nsurvive as a going concern,\" the report said.\n    Hawkeye\'s survival will depend on its ability to comply\nwith provisions of the debt restructuring and regulatory\nagreements and on its ability to return to profitable\noperations, it said.\n    There can be no assurance that Hawkeye will be able to meet\nthese requirements. However, the company \"believes it will be\nable to do so,\" Hawkeye said.\n Reuter\n&#3;',0
'&lt;WASHINGTON BANCORPORATION> 1ST QTR NET Shr 33 cts vs 37 cts\n    Net 2,051,000 vs 1.8 mln\n    Assets 1.7 billion vs 1.5 billion\n    Deposits 1.4 billion vs 1.2 billion\n    Loans 1.1 billion vs 900 mln\n    Note: Year-ago results restated to reflect merger with\nColson Inc.\n Reuter\n&#3;',0
'DOME &lt;DMP> PLAN MAY FORCE SALE OF ENCOR STAKE Dome Petroleum Ltd\'s proposal to\nrestructure debt of more than 6.10 billion Canadian dlrs\nincludes provisions that may force the company to sell its 42\npct stake in &lt;Encor Energy Corp Inc>, Dome said in a U.S.\nSecurities and Exchange Commission filing.\n    Dome said in the filing that its debt plan proposes making\npayments under a five year income debenture to the lender whose\ndebt is secured by Dome\'s Encor shares.\n    After the five years are up, \"under certain circumstances\nthe shares of Encor may be required to be disposed,\" the company\nsaid.\n    Dome has pledged its 42.5 mln Encor shares as security for\npart of its debt to &lt;Canadian Imperial Bank of Commerce>,\nestimated last year at 947 mln dlrs.\n    Analysts have said Commerce Bank was pressing Dome to sell\nthe stock to pay down its debt.\n    Dome\'s Encor shares had a market value of 313 mln dlrs on\nMarch 17, 1987, the company\'s filing said.\n    As previously reported, Dome is seeking approval in\nprinciple for the debt restructuring plan. Dome said in the\nfiling it proposed lenders sign a letter of understanding in\nearly April, with implementation to be effective July 1, 1987.\n    Dome Petroleum reiterated in the SEC filing that its\nexistence as a going concern is dependent on continuing the\ninterim debt plan, due to expire on June 30, and winning\nagreement for its proposed restructuring plan.\n    \"The company believes that the negotiation and\nimplementation of the proposed debt restructuring plan is\nrealistic and achievable,\" Dome said.\n    \"However, the final outcome of the negotiations cannot be\npredicted at this time,\" it said.\n Reuter\n&#3;',0
'RECENT U.S. OIL DEMAND OFF 2.6 PCT FROM YEAR AGO U.S. oil demand as measured by\nproducts supplied fell 2.6 pct in the four weeks ended April\nthree to 15.73 mln barrels per day (bpd) from 16.16 mln in the\nsame period a year ago, the Energy Information Administration\n(EIA) said.\n    In its weekly petroleum status report, the Energy\nDepartment agency said distillate demand was off 7.9 pct in the\nperiod to 2.90 mln bpd from 3.15 mln a year earlier.\n    Gasoline demand averaged 6.76 mln bpd, off 3.1 pct from\n6.98 mln last year, while residual fuel demand was 1.15 mln\nbpd, off 16.9 pct from 1.39 mln, the EIA said.\n    So far this year, distillate demand fell 2.3 pct to 3.20\nmln bpd from 3.28 mln in 1986, gasoline demand was 6.63 mln\nbpd, off 0.3 pct from 6.65 mln, and residual fuel demand fell\n4.9 pct to 1.35 mln bpd from 1.42 mln, the EIA said.\n    Year-to-date domestic crude output was estimated at 8.40\nmln bpd, off 7.6 pct from 9.09 mln a year ago, while gross\ncrude imports averaged 3.92 mln bpd, up 27.1 pct from 3.08 mln,\nit said.\n Reuter\n&#3;',0
'DEFICIT CUTS SEEN UNABLE TO CURE TRADE DEFICIT Financial analysts say they are\npleased with congressional moves to trim next year\'s federal\nbudget deficit but believe the actions will do little to help\nimprove the U.S. trade deficit or buoy the economy.\n    The House of Representatives is expected to vote tomorrow\nto approve a trillion-dollar budget blueprint for the coming\nfiscal year that reduces the deficit by 38 billion dlrs.\n    Similarly, the Senate Budget Committee has approved a plan\nthat would cut federal red ink by about 37 billion dlrs next\nyear.\n        \"In terms of the economy, 37-38 billion dlrs is\ninfinitesimal, so cuts of this magnitude will have little\nimpact on the economy and the trade deficit,\" said Stanley\nCollander, a Touche Ross federal budget policy analyst.\n    \"At best, it will have a small positive effect,\" Collander\nsaid in an interview.\n    Federal Reserve Board Chairman Paul Volcker has repeatedly\ntold Congress that cutting federal red ink would go a long way\nto help reduce the massive trade deficit and also help ease\nsome of the downward pressure on the value of the dollar.\n    The U.S. government has attempted to remedy the trade\nimbalance by driving down the value of the dollar. But Volcker\nhas warned that a further fall in the dollar\'s value is fraught\nwith danger.\n    Such a decline, he has said, could refuel inflation as\nimported goods become more expensive and chase away foreign\ncapital needed to finance the federal budget deficit.\n    In addition, in February, U.S. officials meeting with other\nmajor industrialized nations in Paris agreed that the value of\nthe dollar had dropped enough and that world exchange rates\nshould be stabilized at around current levels.\n    As part of that agreement, Japan and West Germany agreed to\ntake steps to stimulate their economies and the United States\nagreed to cut its budget deficit.\n    The alternative to driving down the dollar any further as a\nway to deal with the trade deficit, Volcker said recently, is\nto reduce U.S. consumption, particularly federal spending.\n    \"If you don\'t deal with the budget deficit, everything else\nyou do is going to be counterproductive,\" Volcker said in recent\ntestimony before the Senate Banking Committee.\n    Volcker also said he would prefer to further tighten the\ngovernment\'s purse strings than have the Fed tighten the credit\nsupply if action was needed to fight inflationary pressures or\nto assure the continued flow of foreign capital into the United\nStates.\n    Analysts say that Fed tightening now could choke off the\ncurrent modest economic expansion and threaten a recession.\n    Kemper Financial Services economist John Silvia stressed\nthat any deficit reduction was better than none.\n    But he said the size of the cuts under consideration were \nnot enough to give the Federal Reserve Board the flexibility it\nneeds to steer the economy or to keep the value of the dollar\nfrom plunging further in world exchange markets.\n    \"There\'s no doubt that some deficit reduction helps, but if\nyour objective is to stabilize the dollar and perserve the\nFed\'s flexibility to conduct monetary policy, then the answer\nis, it\'s not enough,\" Silvia told Reuters.\n    The U.S. trade deficit has become one of the government\'s\nmost vexing and persistent problems.\n    The 1986 deficit was 169.8 billion dlrs and there is as yet\nlittle indication that this year\'s figure will be any lower,\nthough administration officials have predicted it will drop by\nabout 20 to 30 billion dlrs by year\'s end.\n    In the past, Volcker has joked that he never lost sleep\nworrying whether Congress would cut too much fat from the\nfederal budget.\n    On the other hand, he also has made it clear he is not\nattached to the gradually declining deficit ceilings set for\nthe 1986-1991 period by last year\'s Gramm-Rudman balanced\nbudget law.\n    While the new law set a ceiling of 108 billion dlrs for\nnext year\'s federal deficit, both the House and Senate Budget\nCommittees have conceded that their budget plans would fall\nshort of the deficit reduction goal by about 25 billion dlrs.\n    \"For political reasons, 35 to 40 billion dlrs is about the\nmost you\'re going to get\" out of Congress at the present time,\nsaid Touche Ross\'s Collander. \"To do something more than that\nwould be extraordinary, remarkable and very, very difficult.\"\n    Collander said the real danger for Congress was to end up\nshort of the deficit reduction goal set by its Budget panels.\n    \"To an extent, this has become the minimum acceptable\nreduction level,\" he explained. \"Anything less than that will now\nlook like a failure to Wall Street.\"\n    The budget plan now under debate on the House floor would\nlower an estimated 171 billion dlr deficit for the year\nbeginning on October one to about 133 billion dlrs by cutting\ndefense and domestic programs by 38 billion dlrs from their\nanticipated spending levels for next year.\n    The Senate Budget Committee has called for a deficit of\nnearly 134 billion dlrs with about 18.5 billion dlrs in new \ntaxes and about the same amount in spending cuts.\n Reuter\n&#3;',0
'STEWART AND STEVENSON SERVICES &lt;SSSS> 4TH QTR 4th qtr ended Jan 31.\n    Shr profit 72 cts vs profit 14 cts\n    Net profit 3,309,000 vs 609,000\n    Revs 72 mln vs 65 mln\n    Year\n    Shr profit nil vs loss 4.13 dlrs\n    Net profit 1,000 vs loss 19 mln\n    Revs 245 mln vs 269.1 mln\n Reuter\n&#3;',0
'WESTAMERICA BANCORPORATION &lt;WSAM> 1ST QTR NET Shr 98 cts vs 63 cts\n    Net 2,602,000 vs 1,571,000\n    Assets 1.15 billion vs 1.02 billion\n    Deposits 1.04 billion vs 942.1 mln\n    Loans 834.8 mln vs 729.0 mln\n    Return on avg assets 0.92 pct vs 0.63 pct\n Reuter\n&#3;',0
'COLOMBIA COFFEE REGISTRATIONS REMAIN OPEN Colombia\'s coffee export registrations\nremain open and there are no plans to close them since a new\nmarketing policy means an unlimited amount can be registered,\nGilberto Arango, president of the private exporters\'\nassociation said.\n    \"The philosophy of the new policy is not to close\nregistrations. Nobody so far said may would be closed,\" he told\nReuters.\n    On March 13, Colombia opened registrations for April and\nMay for an unlimited amount.\n    Without giving breakdowns, Arango said private exporters\nhad registered 1,322,804 bags this calendar year up to April 6,\nor roughly 440,000 bags per month, slightly lower than the\naverage in recent years.\n    He estimated the amount of bags registered by the national\ncoffee growers\' federation at about the same, meaning a total\nof about 900,000 bags registered and sold per month by\nColombia.\n    \"The only change that could happen is, because of the\nvolume, we would be told that from such a date, registrations\nwould be for June shipment, etc\" Arango said.\n Reuter\n&#3;',0
'GATEWAY BANCORP INC &lt;GBAN> 1ST QTR NET Shr 32 cts vs 34 cts\n    Net 902,178 vs 662,647\n    Deposits 174.7 mln vs 134.4 mln\n    NOTE: Per share amounts adjusted to reflect 10-for-one\nstock split effective Sept 16, 1986.\n Reuter\n&#3;',0
'MORE AMERICAN BRANDS &lt;AMB> ACQUISITIONS SEEN American Brands Inc\'s 545 mln dlrs\nacquisition of National Distillers and Chemical Corp\'s liquor\nbusiness is expected to be one of a series of acquisitions by\nthe tobacco company, analysts said.\n     \"They were very frustrated with their inability to get\nChesebrough. They said they were looking for an acquisition. It\ndoesn\'t surprise me that they came up with another one,\" said\nAllan Kaplan of Merrill Lynch and Co.\n    American Brands failed late last year in its 2.9 billion\ndlrs bid for Chesebrough-Ponds Inc when Unilever N.V. agreed to\nbuy the company. But since then, Wall Street has been\nspeculating that American Brands would find another candidate\nto help reduce its earnings exposure to tobacco.\n    \"This is just typical,\" said George Thompson of\nPrudential-Bache securities. \"There\'s going to be more to come\nhere. American Brands had to make an acquisition because\ntobacco is still a significant part of earnings. Their position\nis a little less favorable than Philip Morris and RJ Reynolds,\"\nhe said.\ncash flow from its low growth tobacco, but the tobacco business\ndoes require great amounts of capital expenditures. It can\ntherefore use its funds to make acquisitions. Analysts said the\nNational Distillers\' spirits company, which makes Gilbey\'s gin\nand vodka, Old Grandad and Old Crow whiskey, is not quite the\ntype of acquisition they envisioned.\n    \"The distilled spirits business has been in a steady\ngradual decline for sometime, as has the tobacco business,\"\nsaid Thompson.\n REUTER...\n&#3;',0
'BUNDESBANK CALLS FOR CENTRAL BANK COOPERATION Bundesbank board member Claus Koehler\ncalled on central banks of major industrialised nations to\ncooperate closely on exchange and interest rate policies.\n    In a lecture at the University of Surrey, pre-released\nhere, Koehler said that the only alternative to cooperation was\nprotectionism and control on capital movements.\n    \"Central banks have sufficient experience of exchange market\ntransactions to steer exchange rates where they want to have\nthem,\" he said. He added that West German growth forecasts would\nhave to be revised downward because of the recent dollar drop\nto 1.80 marks from above two marks at the start of 1987.\n    Koehler said that transactions on foreign exchange markets\nhad parted company with transactions in goods, services and\ninvestments. It was the scale of speculative transactions that\ndetermined market trends.\n    Speculative inflows could cause monetary aggregates to\ngrow. To reverse such a rise in the money stock, interest rates\nwould have to be lowered to allow funds to drain off.\n    \"In other words, the monetary policy measures required are\ndifferent from -- and sometimes diametrically opposed to --\nthose needed when the money stock is increasing as a result of\nmounting economic activity,\" Koehler said.\n    The dollar fall was one means of reducing the massive U.S.\nCurrent account deficit. But attempts to keep the depreciation\ngoing by talking the dollar down posed problems.\n    The sharp drop of the dollar had led to an immediate steep\nrise in the cost of U.S. Imports and a sharp fall in the cost\nof European imports. But the volume effect of falling imports\nto the U.S. And rising imports to Europe would take time to\nmake itself felt compared with the price effect.\n    \"Hence the depreciation of the dollar may well be going\nfurther than would be necessary to adjust the current account\nover the medium term,\" Koehler said.\n    A reduction in the U.S. Current account deficit would occur\nonly if the growth rate of GNP was higher than domestic demand.\nIn Japan and West Germany by contrast, domestic demand should\nrise faster than GNP.\n    \"In Germany this did indeed happen in 1986,\" Koehler said.\n    If a further appreciation of the dollar was to be\nprevented, the U.S. Current account deficit could be offset by\nan inflow of foreign funds into the U.S..\n    But only if there was an appropriate interest rate\ndifferential would Europe and Japan look for financial\ninvestment in the U.S.\n    When selecting monetary policy instruments, a central bank\nhad to pay greater heed than in the past to the impact its\nmeasures might have on expectations and consequent decisions.\n    Koehler said the Bundesbank was changing money market rates\nby operating on the open market rather than adjusting leading\ninterest rates because of the signal this gives to the market\nand its substantial impact on exchange rates.\n    It was not only important to achieve the domestic goals of\nprice stability, economic growth and full employment but also\nto tackle international problems like the exchange rate\nproblem, the debt problem and the current account problem.\n    A strategy had to be designed that helped \"the safeguarding\nof non-inflationary economic growth in an international\nmonetary system largely free of disruptions,\" Koehler said.\n    Given the system of floating exchange rates, it was\nnecessary for central banks to agree to intervene. It sufficed\nto tell the market where central banks saw exchange rates over\nthe next few years and intervention points should not be set,\nbecause they were only testing points for the market, he said.\n    In order to keep the international monetary system free of\ndisruptions central banks should not only intervene jointly but\nalso cooperate on interest rate policies, Koehler said.\n REUTER\n&#3;',0
'AUSTRALIAN UNEMPLOYMENT RISES IN MARCH Australia\'s seasonally adjusted\nunemployment rate rose to 8.4 pct of the estimated workforce in\nMarch from 8.2 pct in February and 7.9 pct a year earlier, the\nStatistics Bureau said.\n    The number of jobless rose to 650,700 from 631,900 in\nFebruary and 593,200 a year earlier, the Bureau said.\n    Unadjusted, the number of unemployed rose to 702,600 from\n699,600 in February but the rate eased to 9.0 pct from 9.1,\nreflecting a slight increase in the estimated workforce. In\nMarch 1986, 640,400 persons, or 8.5 pct of the workforce, were\nout of work.\n REUTER\n&#3;',0
'CSR SAYS IT IS RETAINING NON-DELHI GAS-OIL STAKES CSR Ltd &lt;CSRA.S> said its sale of &lt;Delhi\nPetroleum Pty Ltd> will not affect the other oil and gas\ninterests it manages or operates.\n    CSR sold Delhi, which holds an average 25 pct in the Santos\nLtd &lt;STOS.S>-led Cooper-Eromanga Basin onshore gas and liquids\njoint ventures, to an Exxon Corp &lt;XON> unit for 985 mln dlrs on\nApril 1.\n    In a statement to clarify the position, CSR said it will\nretain its Roma Gas unit, the associated Roma-Brisbane gas\npipeline and the Bula oilfield on Seram, Indonesia, plus\nexploration interests in Queensland and Hainan Island, China.\n REUTER\n&#3;',0
'JAPAN MINISTRY HAS NO COMMENT ON RICE TALKS REPORT The Agriculture Ministry declined comment\non a local newspaper report that Japan had agreed to hold talks\non its closed rice market in the new GATT round.\n    \"We have no idea about the report and cannot comment,\" a\nspokesman told Reuters.\n    Nihon Keizai Shinbun, quoting unnamed government sources,\nsaid Japan would tell U.S. Agriculture Secretary Richard Lyng\nand U.S. Trade Representative Clayton Yeutter of its\nintentions. The two are due to visit Japan later this month for\nfarm talks.\n    The U.S. Has been pressing Japan to discuss the rice issue\nat the new round of General Agreement on Tariffs and Trade\ntalks. But Japan has said GATT is not the right forum.\n    Imports of rice to Japan are banned under the Foodstuff\nControl Act.\n    Nihon Keizai said Japan\'s plan resulted from worries about\nmounting trade tension with the U.S. At the GATT talks, Japan\nwill try to persuade the U.S. That its rice policy is\njustified, it said.\n    The 93-nation world trade body began the Uruguay trade\nround last September. It will take four years to negotiate.\n REUTER\n&#3;',0
'SHOWA DENKO EXPORTS ALUMINIUM CASTING EQUIPMENT &lt;Showa Denko Ltd> said it is exporting\naluminium billet casting equipment and technology to countries\nthat have recently begun aluminium smelting.\n    A company official said it won a 500 mln yen order to\ndeliver 10 sets of casting equipment to Venezuela\'s Venalum by\nend-1987. He said it received an order for one set from\nAluminium Bahrain B.S.C. Last year and expects further orders\nfrom the Bahrain smelter.\n    Showa Denko withdrew from smelting last year but expects to\nincrease its sales of equipment and technology, he said.\n REUTER\n&#3;',0
'ECONOMIC SPOTLIGHT - TELECOM IS KEY JAPAN MINISTRY Japan\'s little-known Ministry of Posts and\nTelecommunications (MPT) has emerged as an international force\nto be reckoned with, political analysts said.\n    MPT, thrust into the spotlight by trade rows with the U.S.\nAnd Britain, is in a position of strength due to its control of\na lucrative industry and its ties with important politicians,\nthey said.\n    \"The ministry is standing athwart the regulatory control of\na key industrial sector, telecommunications and information,\"\nsaid one diplomatic source.\n    \"They are a potent political force,\" the diplomatic source\nsaid.\n    But MPT is finding domestic political prowess does not\nalways help when it comes to trade friction diplomacy, analysts\nsaid.\n    \"The ministry was a minor ministry and its people were not\nso internationalized,\" said Waseda University professor Mitsuru\nUchida. \"Suddenly they\'re standing at the centre of the world\ncommunity and in that sense, they\'re at a loss (as to) how to\nface the situation.\"\n    Most recently the ministry has been embroiled in a row with\nLondon over efforts by Britain\'s Cable and Wireless Plc to keep\na major stake in one of two consortia trying to compete in\nJapan\'s lucrative overseas telephone business.\n    The ministry has favoured the merger of the two rival\ngroups, arguing the market cannot support more than one\ncompetitor to Kokusai Denshin Denwa Co Ltd, which now\nmonopolizes the business.\n    It has also opposed a major management role in the planned\nmerger for any non-Japanese overseas telecommunications firm on\nthe grounds that no such international precedent exists.\n    The ministry\'s stance has outraged both London, which has\nthreatened to retaliate, and Washington, which says the merger\nplan is evidence of Japan\'s failure to honour pledges to open\nits telecommunications market.\n    Washington is also angry over other ministry moves which it\nsays have limited access for U.S. Firms to Japan\'s car\ntelephone and satellite communications market.\n    Much of MPT\'s new prominence stems from the growth of the\nsector it regulates.\n    \"What has been happening is an important shift in the\neconomy which makes the ministry a very important place,\" said\nJames Abegglen, head of the consulting firm Asia Advisory\nService Inc.\n    A decision to open the telecommunications industry to\ncompetition under a new set of laws passed in 1985 has boosted\nrather than lessened MPT\'s authority, analysts said.\n    \"With the legal framework eased, they became the de facto\nlegal framework,\" said Bache Securities (Japan) analyst Darrell\nWhitten.\n    Close links with the powerful political faction of the\nruling Liberal Democratic Party (LDP) nurtured by former Prime\nMinister Kakuei Tanaka are another key to MPT\'s influence, the\nanalysts said.\n    \"Other factions ignored MPT (in the 1970s), but the Tanaka\nfaction was forward looking and ... Recognized the importance\nof MPT,\" Uchida said. Many former bureaucrats became members of\nthe influential political group, he added.\n    The ministry also has power in the financial sector due to\nthe more than 100,000 billion yen worth of deposits in the\nPostal Savings System, analysts said.\n    MPT has helped block Finance Ministry plans to deregulate\ninterest rates on small deposits, a key element in financial\nliberalisation, since the change would remove the Postal\nSavings System\'s ability to offer slightly higher rates than\nbanks, they said.\n    Diplomatic sources, frustrated with what they see as MPT\'s\nobstructionist and protectionist posture, have characterized\nthe ministry as feudal.\n    Critics charge MPT with protecting its own turf, limiting\ncompetition and sheltering the former monopolies under its\nwing. Providing consumers with the best service at the lowest\nprice takes a back seat to such considerations, they said.\n    But many of the ministry\'s actions are not unlike those of\nits bureaucratic counterparts in much of the Western world\nincluding Britain, several analysts said.\n    \"The United States is really the odd man out,\" Abegglen said.\n\"For a government to take the view that it wants to keep order\nin utilities markets is not an unusual and/or unreasonable\nview,\" he said.\n REUTER\n&#3;',0
'G-7 ISSUES STATEMENT AFTER MEETING Following is the text of a statement\nby the Group of Seven -- the U.S., Japan, West Germany, France,\nBritain, Italy and Canada -- issued after a Washington meeting\nyesterday.\n    1. The finance ministers and central bank governors of\nseven major industrial countries met today.\n    They continued the process of multilateral surveillance of\ntheir economies pursuant to the arrangements for strengthened\neconomic policy coordination agreed at the 1986 Tokyo summit of\ntheir heads of state or government.\n    The managing director of the International Monetary Fund\nalso participated in the meeting.\n    2. The ministers and governors reaffirmed the commitment to\nthe cooperative approach agreed at the recent Paris meeting,\nand noted the progress achieved in implementing the\nundertakings embodied in the Louvre Agreement.\n    They agreed, however, that further actions will be\nessential to resist rising protectionist pressures, sustain\nglobal economic expansion, and reduce trade imbalances.\n    In this connection they welcomed the proposals just\nannounced by the governing Liberal Democratic Party in Japan\nfor extraordinary and urgent measures to stimulate Japan\'s\neconomy through early implementation of a large supplementary\nbudget exceeding those of previous years, as well as\nunprecedented front-end loading of public works expenditures.\n    The government of Japan reaffirmed its intention to further\nopen up its domestic markets to foreign goods and services.\n    3. The ministers and governors reaffirmed the view that\naround current levels their currencies are within ranges\nbroadly consistent with economic fundamentals and the basic\npolicy intentions outlined at the Louvre meeting.\n    In that connection they welcomed the strong implementation\nof the Louvre Agreement.\n    They concluded that present and prospective progress in\nimplementing the policy undertakings at the Louvre and in this\nstatement provided a basis for continuing close cooperation to\nfoster the stability of exchange rates.\n REUTER\n&#3;',0
'BANK OF FRANCE TO HOLD MONEY MARKET TENDER TODAY The Bank of France said it has invited\noffers of first category paper today for a money market\nintervention tender.\n    Money market operators were divided over whether the Bank\nof France will use to occasion to cut its intervention rate,\nwhich has stood at 7-3/4 pct since March 9.\n    Some thought a price cut unlikely while others said there\nwas room for a further 1/4 point cut by the bank.\n REUTER\n&#3;',0
'RIO TINTO-ZINC CORP PLC 1986 PRETAX PROFIT 601.7 mln stg\nvs 614.4 mln\n ',0
'RIO TINTO-ZINC NET ATTRIBUTABLE PROFIT LOWER Year to December 31, 1986\n    SHR 78.91p vs 83.05p\n    DIV 16.5p making 23.5p vs 22p\n    PRETAX PROFIT 601.7 mln stg vs 614.4 mln\n    NET ATTRIBUTABLE PROFIT 245 mln stg vs 257 mln\n    TURNOVER 3.34 billion stg vs 3.09 billion\n    Note - Accounts have been restated\n    Full name of company is Rio Tinto-Zinc Corp Plc &lt;RTZL.L>\n    Group operating profit 529.4 mln stg vs 470.7 mln\n    Operating costs 2.81 billion stg 2.63 billion\n    Share of profit less losses of related companies 104.4 mln\nstg vs 165.0 mln\n    Interest receivable/other income 41.5 mln stg vs 47.4 mln\n    Interest payable 73.6 mln stg vs 68.7 mln\n    Tax 274.8 mln stg vs 277.1 mln\n    Leaving 326.9 mln stg vs 337.3 mln\n    RTZ\' investment in Australian associate CRA has been equity\naccounted for 1986 and 1985 figures restated on the same basis\nafter the reduction of RTZ\'s interest to 49 pct in October\n1986.\n REUTER\n&#3;',0
'Burmah Oil 1986 pre-tax profit 105.9 mln stg vs 79.6 mln.\n ',0
'GERMAN BANKERS\' REMARKS REVIVE TALK OF RATE CUT Remarks by two leading central bankers\nsparked renewed speculation in financial markets that a cut in\nthe West German three pct discount rate may be under\ndiscussion, currency dealers said.\n    Bundesbank board member Claus Koehler said in a speech that\nmonetary growth resulting from speculative capital inflows\nrequired cuts in interest rates.\n    Separately, West Berlin state central bank president Dieter\nHiss told journalists that the discount rate could fall below\nits lowest ever point of 2.75 pct. He made clear that he was\nnot making a forecast on interest rates, however.\n    Currency dealers here and in the Far East said the dollar\ngained slight background support from the speculation.\n    But German dealers noted that the Bundesbank kept the 3.80\npct rate unchanged at which it offered liquidity to the money\nmarket this week, dashing some expectations that it may either\noffer lower fixed rate money or offer a reduced minimum rate\nand let the strength of banks\' demands set the allocation rate.\n    It allocated 6.1 billion marks in new liquidity, much less\nthan the 14.9 billion leaving the market as a prior pact\nexpired. This further weakened sentiment the Bundesbank could\nmove to a more accommodative monetary stance, dealers said.\n    Koehler said in a speech in Surrey, England, speculative\ncapital inflows may cause monetary growth, regardless of\nwhether central banks intervened or exchange rates fell.\n    \"In other words, the monetary policy measures required are\ndifferent from -- and sometimes diametrically opposed to --\nthose needed when the money stock is increasing as a result of\nmounting economic activity.\"\n    Though Koehler was known to be the most liberal of the\ngenerally monetarist Bundesbank board, his comments marked the\nfirst time cuts in rates had been concretely suggested as a\ncounterpoint to overly strong monetary growth, dealers said.\nREUTER^M\n&#3;',0
'SOVIET TRADE DEFICIT WITH WEST SOARS IN 1986 The Soviet trade deficit with the West\nalmost quadrupled last year, reaching 2.72 billion roubles\ncompared with 713 mln in 1985, official figures showed.\n    Statistics published by the monthly journal Foreign Trade\nshowed Soviet trade turnover for 1986 fell to 130.9 billion\nroubles from 142.1 billion the previous year, a drop of 7.8\npct.\n    Moscow\'s trade surplus with East Bloc countries continued\nto grow in 1986.\n    Western analysts attributed the deficit rise with the West\nto the world oil price slump, which hit Moscow\'s main export\nand cut hard currency earnings needed for purchases in the\nWest.\n REUTER\n&#3;',0
'BURMAH OIL PROFIT CLIMBS TO 105.9 MLN STG Year 1986\n    Shr 33.54p vs 34.2p.\n    Final div 9.5p, making 14p vs 12.75p.\n    Pre-tax profit 105.9 mln stg vs 79.6 mln.\n    Net profit before minorities 56 mln vs 52.1 mln.\n    Turnover net of duties 1.32 billion stg vs 1.46 billion.\n    Minorities 800,000 stg vs same.\n    Extraordinary debit 20.4 mln vs 28.2 mln.\n    NOTE: Company\'s full name is The Burmah Oil Co Plc &lt;BURM.L>\nREUTER^M\n&#3;',0
'CHINA\'S WHEAT CROP THREATENED BY PESTS, DISEASE Pests and disease, which destroyed 1.1\nmln tonnes of wheat in China in 1986, are threatening crops on\n11.64 mln hectares this year, the China Daily said.\n    About 14.54 mln hectares of wheat were affected in 1986.\n    The paper said abnormal weather conditions had encouraged\nthe spread of wheat midges in 2.47 mln hectares in Shanxi,\nHenan, Sichuan, Anhui, Hebei and Jiangsu.\n    In Henan, Shandong and Hebei wheat aphids are affecting\n4.67 mln hectares, wheat red mite 2.8 mln hectares and wheat\npowdery mildew 1.7 mln hectares.\n REUTER\n&#3;',0
'RTZ SEES RISING U.S. OUTPUT AIDING 1987 RESULTS Rio Tinto-Zinc Corp Plc &lt;RTZL.L>, RTZ,\nsaid the predicted rise in industrial production in the U.S.\nAnd Europe should boost its 1987 performance.\n    Consumption of some base metals and their dlr prices are\nshowing signs of improvement, although iron ore markets have\nweakened. The oil price in U.S. Dlrs is above the 1986 average,\nand if sustained, should improve energy earnings.\n    The company was commenting in a statement on its 1986\nresults which, on a restated basis, showed net attributable\nprofits lower at 245 mln stg after 257 mln the previous year.\nPretax profits also dipped to 601.7 mln stg after 614.4 mln.\n    RTZ said the excellent performance of its expanding range\nof industrial businesses in 1986 was offset by the collapse in\noil prices.\n    Industrial businesses contributed 202 mln stg to net\nprofit, a 40 pct increase from 144 mln in 1985, and 60 pct of\nthe total. Trading performance improved at wholly-owned\nsubsidiaries RTZ Borax Ltd, RTZ Cement Ltd, RTZ Chemicals Ltd\nand RTZ Pillar Ltd. First time contributions from recent\ninvestment and acquisitions mainly in speciality chemicals and\nminerals also aided performance.\n    Metals activities contributed 83 mln stg to net profit.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n&#3;',0
'BRIDGESTONE CORP &lt;BRIT.T> YEAR TO DECEMBER 31 Group shr 35.99 yen vs 38.28\n    Net 21.01 billion vs 21.08 billion\n    Current 47.73 billion vs 48.06 billion\n    Operating 55.04 billion vs 54.99 billion\n    Sales 792.71 billion vs 864.28 billion\n    NOTE - Company forecast for current year is group shr 37.70\nyen, net 22 billion, current 52 billion and sales 800 billion.\n REUTER\n&#3;',0
'EC SUGAR TENDER SEEN MARKING NO CHANGE IN POLICY The maximum export rebate granted at\nyesterday\'s EC sugar tender marked no change in policy over\nproducer complaints that they are not obtaining the EC\nintervention price in exporting sugar outside the Community, EC\nCommission sources said.\n    The maximum rebate was 46.496 Ecus per 100 kilos for\n118,350 tonnes of sugar, down from 46.864 Ecus the previous\nweek, but the change is explained by world market conditions.\n    Producers claim the rebate was short of the level needed to\nobtain a price equivalent to the intervention price by over one\nEcu per 100 kilos, and was 0.87 Ecu short the previous week,\nthe sources said.\n    They said this was despite the fact that the Commission had\nto accept 785,000 tonnes of sugar into intervention from\noperators protesting that rebates are too low.\n    Operators have now until early May to withdraw this sugar.\nBut they have not given any sign of planned withdrawals unless\nthe Commission reviews its export policy, they said.\n REUTER\n&#3;',0
'BURMAH OIL PROSPECTS REMAIN FAVOURABLE The current year has opened well, with\ntrading prospects remaining favourable, Burmah Oil Co Plc\n&lt;BURM.L> said in a statement with its 1986 results.\n    The company plans to maintain a steady rate of investment\nin its marketing operations and to obtain improved profit\nmargins on its liquified natural gas, LNG, project.\n    Burmah has the financial capacity to continue making\nacquisitions within its business sectors, it added. The\nrationalisation programme, including sale of the Bahamas oil\nterminal and all peripheral activities, is now complete.\n    Pre-tax profit for 1986 rose to 105.9 mln stg from 79.6\nmln.\nREUTER^M\n&#3;',0
'GEBRUEDER SULZER 1986 PROFIT UP ALMOST 60 PCT Year 1986\n    Consolidated net profit 67 mln Swiss francs vs 42 mln.\n    Dividend 100 francs per registered share vs 80 francs and\n10 francs per participation certificate vs eight.\n    Consolidated turnover 4.55 billion francs vs 4.54 billion.\n    Parent company net profit 38.2 mln francs vs 26.4 mln.\n    Parent company turnover 2.20 billion francs vs 2.29\nbillion.\n    Note - Company\'s full name is Gebrueder Sulzer AG &lt;SULZ.Z>\n REUTER\n&#3;',0
'JAPAN BUSINESS LEADERS SAY G-7 ACCORD IS WORRYING The leaders of two of Japan\'s top business\ngroups said in separate statements the Group of Seven (G-7)\naccord reached in Washington yesterday is of deep concern to\nJapan because it shows the major industrial nations regard the\nyen\'s current level as appropriate.\n    Eishiro Saito, chairman of the Federation of Economic\nOrganizations (Keidanren), said the yen\'s present rate is well\nabove adequate levels. He did not elaborate.\n    Takashi Ishihara, chairman of the Japan Committee for\nEconomic Development, said the accord will not prevent the yen\nfrom rising further.\n    \"We do not understand why the G-7 approved present rates as\nthe yen has risen excessively since the Paris accord,\" Ishihara\nsaid.\n    G-7 members Britain, Canada, France, Italy, Japan, the U.S.\nAnd West Germany said in a statement they consider their\ncurrencies are now within ranges broadly consistent with\neconomic fundamentals.\n    Saito called on each G-7 member nation to prepare to\nintervene in the market strongly enough to ensure exchange\nrates are stabilised at appropriate levels.\n REUTER\n&#3;',0
'PERGAMON HOLDINGS REDUCES BPCC AND HOLLIS STAKES &lt;Pergamon Holdings Ltd> and its associate\ncompanies said that they had sold 30 mln ordinary shares in the\nBritish Printing and Communication Corp Plc &lt;BPCL.L> and 10.5\nmln in &lt;Hollis Plc> together with other securities.\n    No total price was given but the company said the proceeds\nof the sales would be used to fund Pergamon\'s expansion\nprogramme and worldwide acquisition stategy. The company said\nthat following these sales Pergamon\'s ordinary shareholdings in\nboth BPCC and Hollis remained above 51 pct. It said it had no\nintention of further reducing its holdings in either company.\n REUTER\n&#3;',0
'NATIONALE NEDERLANDEN PROFITS, SALES STEADY Year 1986\n    Net profit 635.5 mln guilders vs 603.4 mln.\n    Revenues 17.35 billion guilders vs 17.27 billion.\n    Net profit per nominal 2.50 guilder share 5.79 guilders vs\n5.67, corrected for capital increase. (1985 uncorrected figure\n5.73).\n    Dividend 2.50 guilders vs 2.38, corrected. (2.40\nuncorrected.)\n    Note - Full name is Nationale Nederlanden NV &lt;NTNN.AS>\nREUTER\n&#3;',0
'SHANGHAI TYREb FACTORY TO RAISE 30 MLN U.S. DLRS Ta Chung Hua Rubber Factory of\nShanghai will raise a 30 to 35 mln U.S. Dlr loan to expand and\nmodernise its plant, arranger CCIC Finance Ltd said.\n    The loan, to be lead managed by the Bank of China, is\nexpected to mature in eight to nine years, but terms have not\nbeen finalized.\n    The money will be used to import manufacturing equipment\nincluding technology transfer for the production of truck\nradial tyres. Part of the output will be exported.\n    The expansion program is expected to cost a total 54 mln\ndlrs. The shortfall will be financed domestically.\n REUTER\n&#3;',0
'SAUDI RATES RISE AS BAHRAIN BANKS CAUGHT SHORT Saudi riyal interest rates rose as\nBahrain-based banks scrambled to cover short positions, dealers\nsaid.\n    Several Bahrain banks had been lending in the fixed periods\nand borrowing in the short dates, but today they found the\nday-to-day money in short supply, dealers said.\n    \"Everybody\'s stuck in the spot-next,\" one trader said.\n    Spot-next rose to as high as 6-1/4, six pct from 5-1/4,\nfive pct yesterday, and the borrowing interest spilled over\ninto the periods, with one month rising to around 6-3/16,\n5-15/16 pct from 5-15/16, 7/8 pct yesterday.\n    Three months edged up to around 6-9/16, 5/16 pct from\n6-7/16, 1/4 pct, while six months was quoted a touch firmer by\nsome banks at seven, 6-3/4 pct.\n    Commercial banks quoted the spot riyal at 3.7500/04 to the\ndollar after 3.7507/09 yesterday.\n REUTER\n&#3;',0
'BELGIUM TO ISSUE GOLD WARRANTS, SOURCES SAY Belgium plans to issue Swiss franc\nwarrants to buy gold, with Credit Suisse as lead manager,\nmarket sources said.\n    No confirmation or further details were immediately\navailable.\n REUTER\n&#3;',0
'PHILIPPINE TELEPHONE FIRM PLANS STOCK SPLIT The Philippine Long Distance Telephone Co\n&lt;PLDT.MN> is planning a two-for-one stock split and a 20 pct\nstock dividend later this year to reduce excess market\nbuoyancy, Vice-President Sennen Lazo told Reuters.\n    Lazo said the stock split would reduce the par value of the\ncompany\'s common stock from 10 to five pesos.\n    He said the stock split would apply to holders of about 18\nmln common shares of stock on the record date of September 15\n1987. \"The exercise should make our stock more marketable,\" Lazo\nsaid. \"Now it is beyond the reach of many small investors.\"\n    PLDT common stock surged from a low of 37 pesos in February\n1986 to 367.50 at close of trading yesterday on the Manila\nStock Exchange.\n    Lazo said the 20 pct stock dividend, payable on October 15,\nwould also apply to stockholders on record as of September 15.\n    PLDT reported 1986 net income of 1.89 billion pesos, up 68\npct from 778.9 mln pesos in 1985, on operating revenues of six\nbillion pesos, up from 4.7 billion pesos in 1985.\n    At end December 1986 the company had 417,100 stockholders.\n    A PLDT spokesman said the company\'s profits are likely to\nbe substantial since the government raised its franchise tax to\nthree pct from two and to impose a 35 pct corporate income tax\nfrom which it was previously exempt.\n    The government has not so far ordered the implementation of\nthe tax decision.\n    PLDT is the largest of 58 telephone companies in the\nPhilippines. On December 31 1986 the company had 856,014\ntelephones in operation, representing 94 pct of all instruments\nin the country.\n    In Manila item \"Philippine Telephone firm plans stock split\"\nplease read in page 3, first para, \"the company\'s profits are\nlikely to be substantially cut\" (inserting dropped word). This\nreplaces  \"the company\'s profits are likely to be substantial\"\n&#3;',0
'CARGILL CONFIRMS WHITE SUGAR SALE TO INDIA London-based trader Cargill (U.K.) Ltd\nconfirmed it sold one cargo of white sugar to India for\nshipment April 15/May 15 at yesterday\'s tender.\n    Price details were not immediately available but some\ntraders suggested business had been done around 220 dlrs a\ntonne cif.\n    India tendered for one or two cargoes of white sugar. There\nwas no specific requirement on shipping period.\n REUTER\n&#3;',0
'MALAYSIA SEEKS 42 BILLION YEN PIPELINE LOAN Malaysia has asked Japan for a 42\nbillion yen 25-year loan to finance the construction of gas\npipelines from eastern Trengganu to southern Johor, the\nOverseas Economic Cooperation Fund (OECF) said.\n    OECF\'s chief representative, Takashi Matsuya, told\nreporters the Japanese Government is appraising the loan.\nAnother OECF official told Reuters Japan is likely to approve\nthe loan because \"it is technically and economically viable.\"\n    If approved, the loan would carry a coupon rate of four\npct, a grace period of seven years, Matsuya said. It would be\ndisbursed over three years, he added.\n    The pipeline contruction is the second phase of the\nPeninsular Gas Utilisation Project by Petronas, Malaysia\'s\nnational oil company.\n    The first phase was the supply of gas to households in and\naround the eastern oil town of Kertih.\n REUTER\n&#3;',0
'CCF REPORTS 34.8 PCT PROFIT BOOST, SHARE SPLIT SEEN Credit Commercial de France &lt;CCFP.PA>\nreported a parent company net profit up 34.8 pct to 140.1 mln\nfrancs from 103.9 mln francs a few weeks before its\ndenationalisation around the end of this month.\n    Official sources said the bank, France\'s sixth largest in\nterms of its deposits and seventh in terms of its assets,\n\nplanned a share split to increase the number of shares on offer\nahead of the sale of 40 pct of its ordinary share capital to\nthe public, of 10 pct to staff and 20 pct abroad.\n    Previously one of France\'s biggest private banks, it was\nnationalised by the Socialists in 1982.\n    The sources said it was too early to give details of the\nplanned split or of the share price, but cited April 27 as a\nlikely date for the flotation launch.\n    So far 30 pct of the group\'s capital, currently at 10.33\nmln shares of 100 francs nominal, has been offered for sale to\nlarge private investors to constitute a solid core of eight to\nten shareholders before the flotation.\n    The private tender offer closes on April 16, while a 12 mln\nfranc advertising campaign for the flotation begins on Sunday.\n\"The privatisation will be a way of attracting extra clients,\"\nCCF deputy director-general Rene de la Serre told Reuters.\n    Market sources put the total value of CCF\'s privatisation\nat between four and five billion francs.\n    De la Serre said the bank was likely to attract at least\nthe same number of investors as &lt;Sogenal>, another recently\nprivatised bank in which 850,000 people bought shares.\n    The government\'s sweeping privatisation programme has also\nincluded the sale of Saint-Gobain &lt;SGEP.PA>, and Cie Financiere\nde Paribas &lt;PARI.PA>. The sale of &lt;Banque du Batiment et des\nTravaux Publics> and &lt;Banque Industrielle et Mobiliere Privee>\nshould be completed this month, while third largest French bank\nSociete Generale &lt;SGEN.PA> will be privatised later this year.\n REUTER\n&#3;',0
'JOHNSON MATTHEY\'S PLATINUM GROUP PRICES Johnson Matthey today issued the\nfollowing Platinum group base prices (unfabricated), all U.S.\nDlrs per troy ounce.\n Previous prices in parentheses.\n PLATINUM  -   562   (567)\n PALLADIUM -   130   (130)\n IRIDIUM   -   400   (400)\n RHODIUM     1,230 (1,230)\n RUTHENIUM -    80    (80)\n&#3;',0
'LEX SERVICE BUYS SEARS MOTOR GROUP Lex Service Plc &lt;LEXL.L> said it had\nacquired &lt;Sears Motor Group Ltd>, the retail motor distribution\narm of Sears Plc &lt; SEHL.L>, and an 11.9 mln stg loan note\npayable by Sears Motor for 33.4 mln stg.\n    The purchase will be through 1.4 mln stg in cash and the\nissue to Sears Plc of 8.0 mln new Lex ordinary shares.\n    The company said in a statement that immediately following\nthe acquisition of the motor group, its car and commercial\nvehicle contract hire fleet of some 3,000 vehicles was sold to\n&lt;Lex Vehicle Leasing Ltd> for 14.3 mln stg in cash, a sum equal\nto the net book value of the vehicles transferred.\n    Lex Vehicle is owned equally by Lex Services and &lt;Lombard\nNorth Central Plc>.\n    Lex said the shares involved in the transaction were today\nbeing placed for Sears Plc with institutions at 400p. These\nshares will not qualify for the final Lex dividend on 10 April.\n    Lex said in a statement that its acquisition of Sears Motor\nGroup represents a major development for its automotive\nactivities. The enlarged retailing operations of the Lex\nAutomotive group now have a turnover of 530 mln stg. Lex\'s\nexisting automotive interests include Volvo Concessionaires,\nthe sole importer of Volvo cars and parts into the U.K.\n    Lex said the turnover for Sears Motor Group in the year to\n31 December 1986 was 242 mln stg and that at the date of the\nacquisition the group had about 50 mln stg in external\nborrowings.\n    Lex shares fell on the announcement to trade around 409p\nfrom a 419p close yesterday.\n REUTER\n&#3;',0
'MAJOR RUBBER PRODUCERS TO MEET IN SINGAPORE Officials from Indonesia, Malaysia,\nSingapore and, perhaps, Thailand will meet here tomorrow to\ndiscuss increased regional cooperation on rubber marketing and\nways to raise rubber prices, industry sources said.\n    The officials will discuss linking rubber markets in the\nfour countries to improve price transparency, the sources said.\n    This is the first time Indonesia is attending such a\nmeeting, they said, but representatives from Thailand may not\nbe able to attend because of their tight schedule. Malaysia,\nIndonesia and Thailand account for 90 pct of world rubber\nexports and Singapore is a major regional rubber trading\ncentre.\n    The Malaysian Rubber Futures market, freighting and\ncontracts for rubber are among other issues expected to be\ndiscussed.\n    Last month, rubber importing and exporting countries\nadopted a new International Natural Rubber Agreement in Geneva.\nThe new pact is more responsive to market trends than its\npredecessor, the sources said, and earlier provisions allowing\nthe buffer stock to borrow from banks have been eliminated.\n REUTER\n&#3;',0
'MEPC EXTENDS OFFER FOR OLDHAM MEPC Plc &lt;MEPC.L> said that its offer for\n&lt;Oldham Estates Ltd> would remain open until further notice.\n    On February 26 MEPC made an agreed bid for Oldham based on\na formula reflecting its asset value at 30 September 1986. A\nyear earlier Oldham\'s net asset value was put at 531.4 mln stg.\n    As of 1 April the valuation used under the formula had\nstill to be agreed so Oldham had yet to give a firm\nrecommendation to its shareholders regarding the value of the\nthe offer.\n REUTER\n&#3;',0
'GEORGE WIMPEY PROFITS UP 42 PCT TO 66.5 MLN STG Year to December 31, 1986.\n    Shr 18.35p vs 14.95p\n    Div 3.75p vs 2.9p making 4.75p vs 3.75p\n    Pretax profit 66.5 mln stg vs 46.9 mln\n    Tax 14.6 mln stg vs 4.5 mln\n    Net profit 51.9 mln stg vs 42.4 mln\n    Turnover 1.44 billion stg vs 1.58 billion\n    Note - Full name of company is George Wimpey Plc &lt;WMPY.L>.\n    Operating profit before exceptional items 88.9 mln stg vs\n80.5 mln\n    Exceptional debits 3.0 mln stg vs 11.6 mln\n    Operating profit 85.9 mln stg vs 68.9 mln\n    Share of profits less losses of associated companies 1.4\nmln stg vs 2.4 mln loss\n    Interest - net payable 20.8 mln stg vs 19.6 mln\n    Attributable minority profits debits 0.2 mln stg vs 0.3 mln\n    Extraordinary items debit 3.4 mln stg vs 4.3 mln credit\n    Net borrowings 195.1 mln stg vs 193.5 mln\n REUTER\n&#3;',0
'CANADA FEBRUARY TRADE SURPLUS 1.25 BILLION DLRS AFTER\nJANUARY 623 MLN DLRS SURPLUS\n ',0
'AEGON 1986 NET PROFIT RISES 6.4 PCT Net profit 327.1 mln guilders vs\n307.5.\n    Total revenue 7.97 billion guilders vs 8.7 billion.\n    Net profit per five guilder nominal share 9.33 guilder vs\n9.25 (corrected for capital increase).\n    Final dividend 1.30 guilders and 2.4 pct stock vs 1.30\nguilders and 2.2 pct in stock. Interim dividend already paid\nwas 1.30 guilders.\n    Note : full name of company is AEGON NV &lt;AEGN.AS>\n    REUTER\n&#3;',0
'CANADA FEBRUARY TRADE SURPLUS 1.2 BILLION DLRS Canada had a trade surplus of 1.25\nbillion dlrs in February compared with an upward revised 623\nmln dlrs surplus in January, Statistics Canada said.\n    The January surplus originally was reported at 533 mln\ndlrs. The February surplus last year was 189 mln dlrs.\n    February exports, seasonally adjusted, were 10.44 billion\ndlrs against 9.85 billion in January and 10.05 billion in\nFebruary, 1986.\n    February imports were 9.19 billion dlrs against 9.23\nbillion in January and 9.86 billion in February, 1986.\n Reuter\n&#3;',0
'BANK OF JAPAN BUYS DOLLARS IN TOKYO, DEALERS SAY The Bank of Japan bought a modest amount\nof dollars at around 145.10 yen just after the market here\nopened, dealers said.\n    Just before the opening, the dollar dropped swiftly as\nspeculators concluded the Group of Seven (G-7) comminuique\nissued in Washington contained nothing basically new, they\nsaid. It fell about a half yen, to around 145.\n    The G-7 reaffirmed that their currencies around current\nlevels reflect economic fundamentals.\n    One dealer said the Bank of Japan probably intervened in\nAustralia before the opening here, but could not confirm this.\n REUTER\n&#3;',0
'MIYAZAWA SAYS YEN STILL INSIDE PARIS RANGE Japanese Finance Minister Kiichi\nMiyazawa said the strengthening of the yen against the dollar\nthat has occurred since the Paris Agreement was within the\nrange agreed on in the Louvre discussions.\n    \"I would say that what has happened (to the yen) in the past\nseveral weeks was not outside the range we agreed to in the\ndiscussions in Paris,\" Miyazawa told a press conference\nfollowing the Group of Seven meeting here.\n    He added that the current discussions were a \"reaffirmation\"\nof that agreement, indicating that the \"solidarity\" that occurred\nin Paris was still in place.\n reuter\n&#3;',0
'U.K. MONEY MARKET GETS 103 MLN STG HELP The Bank of England said it operated in\nthe money market this morning, buying 103 mln stg bank bills.\n    The central bank bought in band one 60 mln stg at 9-7/8, in\nband two eight mln at 9-13/16, in band three 26 mln at 9-3/4\nand in band four nine mln stg at 9-11/16 pct.\n    This compares with the bank\'s forecast of a 400 mln stg\nshortfall today.\n REUTER\n&#3;',0
'NATNED FORECASTS 1987 RESULTS IN LINE WITH 1986 The Netherlands\' largest insurer\nNationale Nederlanden NV &lt;NTTN.AS> (NatNed) said it expected at\nleast unchanged results in 1987 after reporting 1986 net\nprofits up 5.3 pct to 635.5 mln guilders from 603.4 mln in\n1985,\n    Revenues increased by 0.5 pct to 17.35 billion guilders\nafter 17.27 billion the previous year, and the dividend was\nraised to 2.50 guilders per share from 2.38 guilders in 1985,\ncorrected on a capital increase.\n    The company said guilder revenue and profit were pressured\nby falls in exchange rates, particularly in the US and\nAustralian dollar and sterling.\n    Without these currency fluctuations, net profit would have\nbeen 30.7 mln guilders higher and revenue 1.97 billion higher,\nNatNed said.\n    The international share in turnover was 50 pct in 1986\ncompared with 52 pct in 1985.\n    The company\'s life insurance result fell to 365.7 mln\nguilders after 428.4 mln in 1985 due to currency influences,\ntighter interest margins and increased investment.\n    Claim payouts fell to 9.9 mln guilders after 66.6 mln the\nprevious year.\n    The company\'s total assets reached 69.87 billion guilders\nin 1986 against 67 billion the year before.\n    Assets per share equalled 65.68 guilders against 65.53.\n    Without these currency fluctuations, net profit would have\nbeen 30.7 mln guilders higher and revenue 1.97 billion higher,\nNatNed said.\n    The international share in turnover was 50 pct in 1986\ncompared with 52 pct in 1985.\n    The company\'s life insurance result fell to 365.7 mln\nguilders aft\n INTERRUPTED\n&#3;',0
' &#2;\nBANK OF FRANCE RETURN - APR 9\n Week end Apr 2 (in mln francs)\n Gold reserves 218,316 (unch)\n Convertible Currency Reserves 119,518 (116,728)\n Ecus 62,008 (62,020)\n Special Operations (advances to\n     Exchanges stabilisation fund) nil (nil)\n Special Drawing Rights 6,866 (unch)\n Notes In Circulation 209,260 (207,517)\n Foreign Liabilities 3,101 (3,082)\n&#3;\n\n',0
'EUROPEAN MARKETS REACT QUIETLY TO G-7 COMMUNIQUE European currency markets reacted quietly\nto the G-7 communique, with comments from bankers and dealers\nranging from disappointment that it was not more concrete to\nsurprise that the markets should have expected so much.\n    The dollar opened lower against virtually all currencies\nand traded in a narrow range after the communique, which\nreaffirmed support for the Paris accord on currency\nstabilisation but contained no moves to strengthen it.\n    Dealers in Frankfurt and Zurich saw the dollar remaining\nbroadly entrenched in its current trading range.\n    \"The dollar is likely to stay within a range of 1.80 to 1.84\nmarks,\" said Gisela Steinhaeuser, senior dealer at Chase Bank\nAG. She said there was some resistance to further climbs.\n    However, she said the dollar could break out of the range\nwith major surprises such as a worse-than-expected U.S.\nMerchandise trade deficit, due next Tuesday.\n    Theodor Stadelmann, dealer with Bank Julius Baer and Co Ltd\nin Zurich, said he expects the dollar to hold steady against\nthe mark and Swiss franc but to weaken further against the yen,\npossibly to 140 yen.\n    A Milan banker shared Stadelmann\'s view, saying he expects\na dollar-yen range of 140-150 in the short term.\n    London traders said the G-7 communique failed to curb\nunderlying bearishness toward the dollar but this negative\nsentiment was not yet strong enough to tempt interbank\noperators to test the downside.\n    Concern that finance ministers and officials still in\nWashington could issue more concrete statements in favour of\ncurrency stabilisation kept players sidelined, along with\nworries about provoking fresh central bank intervention in the\nnear term, the traders said.\n    Most Paris dealers expressed disappointment at the\ncommunique, saying nothing has changed to reverse the dollar\'s\ndownward trend.\n    Traders in several centres said the market would look for\nfresh opportunities to test the willingness of central banks to\ndefend current ranges, which the communique said were \"broadly\nconsistent with economic fundamentals and the basic policy\nintentions outlined at the Louvre meeting.\"\n    Dave Jouhin, senior dealer at Midland Bank in London, said\n\"They\'re going to put somebody\'s resolve to the test soon.\" The\nU.S. February trade data may provide the trigger, dealers said.\n    However, some dealers said London-based operators would be\nunlikely to open major positions next week ahead of the long\nEaster weekend. They saw near-term technical support at 1.825\nmarks and 145 yen and resistance about 1.83 marks and 146 yen.\n    Chase Bank\'s Steinhaeuser and other Frankfurt dealers said\nthe G-7 communique guaranteed a relatively calm and stable\nmarket for the foreseeable future compared with the extreme\nvolatility seen in the first few months of this year.\n    One dealer at a German bank said the wording of the\ncommunique made clear the leading nations did not want a\nfurther dollar drop, and this was supporting the dollar.\n    The German dealer saw the dollar gradually appreciating to\n1.87 marks, broadly seen as its upper limit within the Louvre\naccord\'s supposed currency target range.\n    A Swiss bank economist said he believed the markets were\nready for a period of \"mainly sideways movement.\"\n    But Milan dealers were sceptical about the communique\ncontributing to greater stability.\n    \"Nothing has changed substantially to give the dollar a big\nboost,\" said one dealer, while another Italian banker said he\nexpects the dollar to trade between 1.77 and 1.87 German marks\nin the next three months.\n    A Swiss monetary source, who asked not to be named, said\nthe communique had been in line with realistic expectations and\nshould not have produced disappointment.\n    \"The problem is that the changes needed in fiscal and trade\npolicies to redress current imbalances are of a different\ntimescale than currency markets operate on,\" the source told\nReuters, \"This is a political process which takes time.\"\n    Alois Schwietert, chief economist at Swiss Bank Corp in\nBasle, also questioned the tone of disappointment evident on\ncurrency markets today. \"Did people really expect a patent\nremedy?\" he asked.\n    Bank economists in Paris noted yesterday\'s meeting was only\nthe first in a series and said the market would watch carefully\nin the next few weeks for any changes in positions.\n    A senior economist with Banque Indosuez said the focus was\nnow on trade and growth rather than interest rates. Any move by\nJapan and West Germany to boost their economic growth could\nlead to a quick change in the U.S. Position.\n    Dealers in all centres agreed that markets would be wary in\npushing the dollar too far too quickly in the coming months\nwhile central banks appear resolved to use their muscle to\nsupport the Paris accord.\n REUTER\n&#3;',0
'GERMAN MONEY MARKET SPLIT ON LOWER RATE PROSPECTS Remarks by central bankers raised some\nhopes the Bundesbank will cut rates on securities repurchase\npacts, but operators remained divided on the likelihood of a\nmove in the near term, money market dealers said.\n    Comments by Bundesbank board member Claus Koehler yesterday\nthat rate cuts were needed to curb money supply growth from\nspeculative capital inflows, and by West Berlin state central\nbank president Dieter Hiss that there was no natural lower\nlimit to the discount rate had, however, no immediate impact.\n    Call money declined to 3.65/75 pct from 3.75/85 pct but the\ndrop was tied to extra liquidity in the market, dealers said.\n    Dealers said the Bundesbank\'s latest liquidity allotment\nthis week dashed some hopes of lower rates.\n    The Bundesbank allotted only 6.1 billion marks yesterday in\nnew liquidity in a repurchase pact at an unchanged rate of 3.80\npct, thus subtracting some 8.8 billion marks from the market,\nas an outgoing 14.9 billion pact expired.\n    But some dealers said the smaller volume awarded by the\npact was in line with present liquid money market conditions,\nand did not exlude a cut in the repurchase pact rate soon to\n3.70 pct if money market rates continue at present levels.\n    The next opportunity for the Bundesbank to lower rates on\nrepurchase pacts will be in a tender expected next Tuesday.\n    Bundesbank officials have already said they favour more\ndiscreet rate adjustments through repurchase pacts, rather than\nthe more public adjustment of leading rates.\n    The Bundesbank may either set a fixed allocation rate and\nallow banks to tender for the volume, as has been the case\nsince it lowered its discount rate January 22, or else it may\nallow banks to tender for the rate and set the volume itself.\n    Dealers expect volume of the tender to be lower than the\n15.2 billion marks flowing out, to offset other incoming funds.\n    Some seven billion marks is expected to flow in next week.\nThis should then flow back into the market as it is deposited\nwith banks.\n    Banks were well supplied with liquidity, holding 61.5\nbillion marks in reserves at the Bundesbank on Tuesday.\n    Holdings of average daily reserves over the first seven\ndays of April stood at 59.6 billion marks, still above the\nestimated 51 billion required for all of April.\n REUTER\n&#3;',0
'THAILAND TO RENEW LONG TERM SUGAR CONTRACTS -TRADE Thailand is to negotiate tomorrow with\nselected trade houses for renewal of long term raw sugar sales\ncontracts, to cover the next five years at a rate of 60,000\ntonnes annually, traders said.\n    They also reported vague talk Algeria may be seeking 50,000\ntonnes of raws tomorrow but details are unclear.\n REUTER\n&#3;',0
'EC LAUNCHES ANTI-DUMPING PROBE ON JAPANESE CHIPS The European Community launched an\ninvestigation into allegations of dumping by Japanese\nsemiconductor makers in a move which diplomats said could mark\nan intensification of world trade strains.\n    Tokyo already faces a deadline of April 17 from Washington\nfor the imposition of 300 mln dlrs worth of tariffs on chips it\nimports into the U.S.\n    The EC Executive Commission said today the European\nElectrical Component Manufacturers Association complained that\nJapanese firms were selling high capacity EPROM type (erasable\nprogrammable read only memory) chips at unfairly low prices.\n    Japan last year took 78 pct of the 170 mln dlr EC EPROM\nmarket, up from 60 pct in 1984. The EC firms said they had been\nforced to offer their products at a discount of up to 30 pct in\norder to compete with the Japanese.\n    The Commission said it believed the Association had given\nsufficient elements of proof for dumping to warrant an\ninvestigation, which could lead it to impose duties if it found\nthe complaints were justified.\n    The Commission claims last year\'s accord between the U.S.\nAnd Japan on microchip pricing gives U.S. Firms privileged\naccess to the Japanese market.\n REUTER\n&#3;',0
'SWISS TO LAUNCH NEW SERIES OF MONEY MARKET PAPER The Swiss Federal Government will launch\na new series of three month money market certificates totalling\naround 150 mln Swiss francs, the National Bank said.\n    Subscriptions close April 14 and payment date is April 16.\n    The last series of three month paper issued in March raised\n147.3 mln francs at an issue price of 99.142 pct, giving an\naverage annual yield of 3.501 pct.\n    REUTER\n&#3;',0
'EUROPEAN MARKETS REACT QUIETLY TO G-7 COMMUNIQUE European currency markets reacted quietly\nto the G-7 communique, with comments from bankers and dealers\nranging from disappointment that it was not more concrete to\nsurprise that the markets should have expected so much.\n    The dollar opened lower against virtually all currencies\nand traded in a narrow range after the communique, which\nreaffirmed support for the Paris accord on currency\nstabilisation but contained no moves to strengthen it.\n    Frankfurt and Zurich dealers saw the dollar staying broadly\nentrenched in its current trading range.\n REUTER\n&#3;',0
'FINANCE MINISTERS AGREE ON NEED FOR STABILITY Finance ministers from seven major\nindustrialized nations agreed on the need to stabilize\ncurrencies at current levels but said more action was needed to\nreduce trade imbalances and sustain economic growth.\n    In a communique issued after a four-hour meeting at the\nU.S. Treasury that ended last night, the ministers said the\nvalue of the dollar and other currencies was basically correct\nnow, and they welcomed new measures planned by the Japanese to\nboost their economy.\n    West German Finance Minister Gerhard Stoltenberg called it\na \"good meeting\" and in brief remarks exchanged with reporters\nother ministers seemed pleased with its outcome.\n    Shortly after the communique was issued and just as foreign\nexchange trading opened in Tokyo, the Bank of Japan intervened\nagain to prevent the yen rising too quickly.\n    The communique said, \"The ministers and governors reaffirmed\nthe commitment to the cooperative approach agreed at the recent\nParis meeting. They agreed, however, that further actions will\nbe essential to resist rising protectionist pressures, sustain\nglobal economic expansion and reduce trade imbalances.\"\n    It welcomed the plans set this week by the Japan\'s ruling\nLiberal Democratic Party to stimulate its economy with what the\ncommunique termed \"extraordinary and urgent measures\" including\nan \"unprecedented front-end loading of public works\nexpenditures.\"\n    The meeting of the so-called Group of Seven brought\ntogether ministers and central bank governors of the seven\nmajor industrial democracies, the United States, Japan, West\nGermany, France, Britain, Italy and Canada.\n    The communique said the ministers reaffirmed the commitment\non cooperation reached in a meeting on February 22 in Paris\nwhen they had agreed to stabilize foreign exchange rates at the\nthen-current levels.\n    In the weeks that followed, the dollar continued to fall\nagainst the Japanese yen despite massive dollar purchases by\nthe Bank of Japan and other central banks and is now trading at\naround postwar lows.\n    Japan has come under growing criticism from both the United\nStates and European countries for its only modest efforts to\nopen its markets to outside competition and to reduce its\nexports.\n    The communique said Japan affirmed its intention to open\ndomestic markets to foreign goods and services but did not\nelaborate.\n    It said the officials \"reaffirmed the view that around\ncurrent levels their currencies are within ranges broadly\nconsistent with economic fundamentals and the basic policy\nintentions outlined at the Louvre meeting.\"\n Reuter\n&#3;',0
'AEGON EXPECTS MODERATE RISE IN 1987 PROFITS Dutch insurer AEGON NV &lt;AEGN.AS>\nreported a 6.4 pct increase in 1986 net profits to 327.1 mln\nguilders and said it expected a moderate increase in profits\nfor 1987.\n    Total revenue was eight pct lower in 1986 at 7.97 billion\nguilders vs 8.7 billion guilders in 1985. The company said its\nrevenues were down due to lower foreign exchange rates and a\nchange in accounting practice. It added that revenues would\nhave risen by about seven pct had those changes not occurred.\n    Revenue from Dutch operations rose five pct in 1986, mainly\ndue to its life insurance business.\n    Health insurance revenues in the Netherlands also rose\ndespite a notable shift to insurances with lower premiums and\nhigher personal risks.\n    Damage insurances made losses, mainly due to car damage\ninsurances. AEGON did not specify the loss.\n    In the United States, revenue in guilders from health and\nlife insurance was lower. AEGON said this was due to a change\nin accounting for U.S. Annuities.\n    AEGON said annuities are subject to such strong personal\ninvestment influences that it should be accounted differently\nfrom the more traditional insurances.\n    This change in accounting practice and another change to\naccount for profits made on fixed interest investments,\nresulted in an incidental rise in net profits of 31 mln\nguilders.\n    AEGON said incidental negative influences on net profits\nwere slightly higher, being the lower dollar rate, high initial\ncosts for new products, and the cost of new headquarters in The\nHague.\n    In 1986, a large number of new insurance products emerged\nin the Netherlands and the U.S., AEGON said. Large initial\ncosts for these products have depressed net profits somewhat.\n    Monumental Corp, a U.S. Insurer which merged with AEGON in\nMay 1986, saw its profits almost completely eroded by these\ncosts and made only a small contribution to the group\'s\nprofits.\n    AEGON said it has written-off 657 mln guilders in goodwill\nfor Monumental Corp.\n    AEGON\'s net equity was 2.71 billion guilders in December\n1986, against 3.46 billion the year before.\n  REUTER\n&#3;',0
'G-7 ISSUES STATEMENT AFTER MEETING Following is the text of a statement\nby the Group of Seven -- the U.S., Japan, West Germany, France,\nBritain, Italy and Canada -- issued after a Washington meeting\nyesterday.\n    1. The finance ministers and central bank governors of\nseven major industrial countries met today.\n    They continued the process of multilateral surveillance of\ntheir economies pursuant to the arrangements for strengthened\neconomic policy coordination agreed at the 1986 Tokyo summit of\ntheir heads of state or government.\n    The managing director of the International Monetary Fund\nalso participated in the meeting.\n    2. The ministers and governors reaffirmed the commitment to\nthe cooperative approach agreed at the recent Paris meeting,\nand noted the progress achieved in implementing the\nundertakings embodied in the Louvre Agreement.\n    They agreed, however, that further actions will be\nessential to resist rising protectionist pressures, sustain\nglobal economic expansion, and reduce trade imbalances.\n    In this connection they welcomed the proposals just\nannounced by the governing Liberal Democratic Party in Japan\nfor extraordinary and urgent measures to stimulate Japan\'s\neconomy through early implementation of a large supplementary\nbudget exceeding those of previous years, as well as\nunprecedented front-end loading of public works expenditures.\n    The government of Japan reaffirmed its intention to further\nopen up its domestic markets to foreign goods and services.\n    3. The ministers and governors reaffirmed the view that\naround current levels their currencies are within ranges\nbroadly consistent with economic fundamentals and the basic\npolicy intentions outlined at the Louvre meeting.\n    In that connection they welcomed the strong implementation\nof the Louvre Agreement.\n    They concluded that present and prospective progress in\nimplementing the policy undertakings at the Louvre and in this\nstatement provided a basis for continuing close cooperation to\nfoster the stability of exchange rates.\n REUTER\n&#3;',0
'G-7 WANTS TO SHOW MARKETS ITS RESOLVE - MIYAZAWA Japanese Finance Minister Kiichi\nMiyazawa said the Group of Seven (G-7) countries reaffirmed\ntheir Paris accord on stabilising currencies to convince the\nmarket of their resolve.\n    At a news conference after today\'s G-7 meeting, Miyazawa\nsaid the ministers and central bank governors did not believe a\ntotally new statement was needed.\n    The speculative selling did not reflect economic\nfundamentals, and since the fundamentals had not changed only a\nreaffirmation of the goals of the Paris accord was needed, he\nsaid.\n    He also noted that this test of the G-7 nations resolve had\nconcentrated on the yen, while other currencies, especially the\nmark, had remained stable.\n    Miyazawa said any change in economic conditions since the\nParis accord was not worth being called fundamental.\n    \"As I said at a time of Louvre (agreement), the expression\nof \'current level\' is rather vague idea,\" he said.\n    The yen\'s movement in the past several weeks is within the\nrange agreed in Paris in Febraury, he said.\n    It was better to give a vague expression than pin-pointing\na level, which could have an adverse impact on the market,\nMiyazawa said.\n    Asked why only Japan was committed to fresh measures in the\nstatement, he said Japan was exceptional among the seven\nbecause the yen appreciated against the dollar while other\nmajor currencies largely have been stable.\n    He also said Japan\'s ruling Liberal Democratic Party has\njusted adoped a package to reflate the economy while other\nnations are not supposed to produce new measures in a short\nperiod since the Paris agreement.\n    Miyazawa also said the U.S. sanctions against Japanese\nsemiconductor products was not discussed through the G-7\nmeeting and did not affect the currency talks.\n    The seven nations discussed the debt problems of developing\ncountries and ways to proceed in line with the debt initiative\noutlined by U.S. Treasury Secretary James Baker 18 months ago.\n REUTER\n&#3;',0
'YEN SEEN RISING AFTER G-7 COMMUNIQUE The yen is likely to start another\nuneven rise against the dollar and other major currencies\nbecause the Group of Seven communique contained nothing new,\ncurrency and bond analysts here said.\n    \"Is that it? I was expecting something more than that,\" said\none trader at a major Wall Street securities company.\n    Marc Cohen of Republic National Bank of New York said: \"The\nmarket now has the impetus to drive the dollar lower again.\"\n    The dollar hovered between 145.50 and 147 yen in the days\njust before the talks. Dealers restrained their underlying\nbearishness and squared positions ahead of Wednesday\'s meeting\nof the finance ministers and central bankers of the top seven\nindustrialized nations in Washington.\n    After more than four hours of talks, the G-7 issued a\ncommunique which merely reaffirmed the recent Paris agreement\'s\nview that prevailing currency levels were broadly consistent\nwith economic fundamentals and that exchange rate stability\nshould be fostered around these levels.\n    The dollar sank to 144.75 yen in early Tokyo trading.\n    \"They said that the dollar/yen rate was broadly in line with\nfundamentals when it was 154. Now they are saying it\'s in line\nwhen it\'s at 146. Will this still be so at 138 or 130?,\" asked\nRepublic\'s Cohen.\n    Japanese Finance Minister Kiichi Miyazawa fuelled\nspeculation about the amount of fluctuation the authorities are\nprepared to tolerate by saying that the current yen level is\nstill inside the range agreed on in Paris in late February.\n    Official statements in recent weeks had indicated that the\nkey psychological level of 150 yen was at the lower end of the\nauthorities\' permissible range.\n    Dealers and analysts warned that the dollar\'s decline would\nprobably be uneven. They anticipated a concerted effort to prop\nup the dollar and restrain the yen via a mixture of open market\nintervention and public comments.\n    Shortly after the Tokyo market opened today the Bank of\nJapan was detected by local dealers buying moderate amounts of\ndollars. The dollar rebounded to about 145.20 yen.\n    The sources said the market may also be wary of agressively\nselling dollars for yen before Tuesday\'s February U.S. Trade\ndata. The figures are expected to show a deficit of 13 billion\ndlrs, from a provisional 14.8 billion in January.\n\n\n\n\n&#3;',0
'JAPAN BUSINESS LEADERS SAY G-7 ACCORD IS WORRYING The leaders of two of Japan\'s top business\ngroups said in separate statements the Group of Seven (G-7)\naccord reached in Washington yesterday is of deep concern to\nJapan because it shows the major industrial nations regard the\nyen\'s current level as appropriate.\n    Eishiro Saito, chairman of the Federation of Economic\nOrganizations (Keidanren), said the yen\'s present rate is well\nabove adequate levels. He did not elaborate.\n    Takashi Ishihara, chairman of the Japan Committee for\nEconomic Development, said the accord will not prevent the yen\nfrom rising further.\n    \"We do not understand why the G-7 approved present rates as\nthe yen has risen excessively since the Paris accord,\" Ishihara\nsaid.\n    G-7 members Britain, Canada, France, Italy, Japan, the U.S.\nAnd West Germany said in a statement they consider their\ncurrencies are now within ranges broadly consistent with\neconomic fundamentals.\n    Saito called on each G-7 member nation to prepare to\nintervene in the market strongly enough to ensure exchange\nrates are stabilised at appropriate levels.\n REUTER\n&#3;',0
'UNIFIRST CORP &lt;UNF> SETS QUARTERLY Qtly div five cts vs five cts prior\n    Pay July One\n    Record June 17\n Reuter\n&#3;',0
'&lt;TRUMP PLAZA> 4TH QTR NET Net profit 2,529,000 vs loss 1,066,000\n    Revs 59.0 mln vs 52.6 mln\n    Year\n    Net profit 15.4 mln vs profit 865,000\n    Revs 247.0 mln vs 231.1 mln\n    NOTE: Company became wholly owned and operated by Donald\nTrump in May 1986, when he acquired 50 pct interest that had\nbeen owned by former operator Holiday Corp &lt;HIA>.\n Reuter\n&#3;',0
'EUROPEAN MARKETS REACT QUIETLY TO G-7 COMMUNIQUE European currency markets reacted quietly\nto the G-7 communique, with comments from bankers and dealers\nranging from disappointment that it was not more concrete to\nsurprise that the markets should have expected so much.\n    The dollar opened lower against virtually all currencies\nand traded in a narrow range after the communique, which\nreaffirmed support for the Paris accord on currency\nstabilisation but contained no moves to strengthen it.\n    Dealers in Frankfurt and Zurich saw the dollar remaining\nbroadly entrenched in its current trading range.\n    \"The dollar is likely to stay within a range of 1.80 to 1.84\nmarks,\" said Gisela Steinhaeuser, senior dealer at Chase Bank\nAG. She said there was some resistance to further climbs.\n    However, she said the dollar could break out of the range\nwith major surprises such as a worse-than-expected U.S.\nMerchandise trade deficit, due next Tuesday.\n    Theodor Stadelmann, dealer with Bank Julius Baer and Co Ltd\nin Zurich, said he expects the dollar to hold steady against\nthe mark and Swiss franc but to weaken further against the yen,\npossibly to 140 yen.\n    A Milan banker shared Stadelmann\'s view, saying he expects\na dollar-yen range of 140-150 in the short term.\n    London traders said the G-7 communique failed to curb\nunderlying bearishness toward the dollar but this negative\nsentiment was not yet strong enough to tempt interbank\noperators to test the downside.\n    Concern that finance ministers and officials still in\nWashington could issue more concrete statements in favour of\ncurrency stabilisation kept players sidelined, along with\nworries about provoking fresh central bank intervention in the\nlong term, the traders said.\n    Most Paris dealers expressed disappointment at the\ncommunique, saying nothing has changed to reverse the dollar\'s\ndownward trend.\n    Traders in several centres said the market would look for\nfresh opportunities to test the willingness of central banks to\ndefend current ranges, which the communique said were \"broadly\nconsistent with economic fundamentals and the basic policy\nintentions outlined at the Louvre meeting.\"\n    Dave Jouhin, senior dealer at Midland Bank in London, said\n\"They\'re going to put somebody\'s resolve to the test soon.\" The\nU.S. February trade data may provide the trigger, dealers said.\n    However, some dealers said London-based operators would be\nunlikely to open major positions next week ahead of the long\nEaster weekend. They saw near-term technical support at 1.825\nmarks and 145 yen and resistance about 1.83 marks and 146 yen.\n    Chase Bank\'s Steinhaeuser and other Frankfurt dealers said\nthe G-7 communique guaranteed a relatively calm and stable\nmarket for the foreseeable future compared with the extreme\nvolatility seen in the first few months of this year.\n    One dealer at a German bank said the wording of the\ncommunique made clear the leading nations did not want a\nfurther dollar drop, and this was supporting the dollar.\n    The German dealer saw the dollar gradually appreciating to\n1.87 marks, broadly seen as its upper limit within the Louvre\naccord\'s supposed currency target range.\n    A Swiss bank economist said he believed the markets were\nready for a period of \"mainly sideways movement.\"\n    But Milan dealers were sceptical about the communique\ncontributing to greater stability.\n    \"Nothing has changed substantially to give the dollar a big\nboost,\" said one dealer, while another Italian banker said he\nexpects the dollar to trade between 1.77 and 1.87 German marks\nin the next three months.\n Reuter\n&#3;',0
'WEST GERMAN BEET PLANTINGS DELAYED THREE WEEKS Unseasonal cold weather has delayed\nsugar beet plantings in West Germany by up to three weeks, the\nagriculture ministry said.\n    A ministry spokesman said in some central areas, especially\nin the Rhineland, farmers have taken advantage of warmer\nweather and started plantings in the past two days.\n    West German planting intentions this year are put at\n381,000 hectares, down from 390,500 ha last year, he said,\nadding that the 1980/1985 average was 405,000 ha.\n REUTER\n&#3;',0
'STEP-SAVER &lt;CODA> SAYS WARRANT EXERCISED Step-Saver Data Systems Inc\nsaid Bergen-Richards Corp has exercised a warrant to buy\n450,000 Step-Saver shares at two dlrs each.\n    It said warrants issued to the underwriter in its initial\npublic offering were exercised in March for an aggregate of\n169,200 dlrs.\n Reuter\n&#3;',0
'COAST SAVINGS &lt;CSA> IN TALKS ON BUYING BANK Coast Savings and Loan Association\nsaid it is in talks with the Federal Savings and Loan Insurance\nCorp on the acquisition of Central Savings and Loan Association\nof San Diego.\n    Central, which operates 46 branches, has been under\nmanagement guidance of the FSLIC since May 1985.\n    Coast said the acquisition would give it an entry into the\nSan Joaquin Valley market besides strengthening its presence in\nthe San Diego, Los Angeles and Orange Counties areas.\n Reuter\n&#3;',0
'BRAMALL TO ACQUIRE GELCO FOR UP TO 26.3 MLN DLRS &lt;C.D. Bramall Plc> said in a statement\naccompanying its annual results that it proposed to acquire\nGelco U.K. For some 26.3 mln dlrs.\n    Part of the cost will be met by the issue of 2.14 mln new\nordinary Bramall shares which are being placed at 265p each.\n    The acquisition will be satisfied by an initial payment of\nsome 25.3 mln dlrs in cash with further payments of 500,000\ndlrs up to a maximum 26.3 mln dlrs. These further payments will\nonly be made if profits achieved by Gelco for the year ending\nJuly 31, 1987 reach a certain level.\n    Bramall shares were trading 6p lower at 278p.\n REUTER\n&#3;',0
'BELGIUM LAUNCHES BONDS WITH GOLD WARRANTS The Kingdom of Belgium is launching 100\nmln Swiss francs of seven year notes with warrants attached to\nbuy gold, lead mananger Credit Suisse said.\n    The notes themselves have a 3-3/8 pct coupon and are priced\nat par. Payment is due April 30, 1987 and final maturity April\n30, 1994.\n    Each 50,000 franc note carries 15 warrants. Two warrants\nare required to allow the holder to buy 100 grammes of gold at\na price of 2,450 francs, during the entire life of the bond.\n    The latest gold price in Zurich was 2,045/2,070 francs per\n100 grammes.\n REUTER\n&#3;',0
'FAO SEES LOWER GLOBAL WHEAT, GRAIN OUTPUT IN 1987 The U.N. Food and Agriculture Organisation\n(FAO) said global wheat and coarse grain output was likely to\nfall in 1987 but supplies would remain adequate to meet demand.\n    FAO said in its monthly food outlook bulletin total world\ngrain output was expected to fall 38 mln tonnes to 1,353 mln in\n1987, due mainly to unusually high winter losses in the Soviet\nUnion, drought in China and reduced plantings in North America.\n    World cereal stocks at the end of 1986/87 were forecast to\nrise 47 mln tonnes to a record 452 mln tonnes, softening the\nimpact of reduced production. But stocks are unevenly\ndistributed, with about 50 pct held by the U.S.\n    \"Thus the food security prospects in 1987/88 for many\ndeveloping countries, particularly in Africa, depend crucially\non the outcome of this year\'s harvests,\" FAO said.\n    FAO said world cereal supplies in 1986/87 were estimated at\na record 2,113 mln tonnes, about five pct higher than last\nseason and due mainly to large stocks and a record 1986\nharvest, estimated at 1,865 mln tonnes.\n    FAO\'s forecast of 1986/87 world cereals trade was revised\nupwards by eight mln tonnes to 179 mln due to the likelihood of\nsubstantial buying by China and the Soviet Union.\n REUTER\n&#3;',0
'CB AND T BANCSHARES INC &lt;CBTB> 1ST QTR NET Shr 27 cts vs 24 cts\n    Net 5,223,000 vs 4,682,000\n    Avg shrs 19.7 mln vs 19.4 mln\n    NOTE: Results reflected pooled acquisition of First\nCommunity Bancshares Inc on March 31, 1987 and include Camden\nBancorp from January 31, 1987 purchase.\n Reuter\n&#3;',0
'XICOR INC &lt;XICO> 1ST QTR MARCH 22 NET Shr profit five cts vs loss 16 cts\n    Net profit 689,000 vs loss 1,910,000\n    Revs 12.3 mln vs 9,432,000\n    NOTE: 1987 net includes 276,000 dlr tax credit.\n Reuter\n&#3;',0
'GEORGE WIMPEY SAYS BENEFITS OF RESTRUCTURING SEEN George Wimpey Plc &lt;WMPY.L> said  the\noutlook for 1987 looked encouraging as the company realised the\ncontinuing benefits of restructuring.\n    It said its overall financial position showed further\nimprovement in 1986 and the reshaping of its U.K. Business into\nclearly defined and activity related divisions had been\nsuccessfully achieved.\n    Wimpey was commenting in a statement on its 1986 results\nwhich showed pretax profits up 42 pct to 66.5 mln stg.\n    The group had a good overall year in North America, the\ncompany said in a statement.\n Reuter\n&#3;',0
'C.O.M.B. &lt;CMCO> MAKES ACQUISITION C.O.M.B. Co said it has acquired\nthe principal assets of National Tech Industries Inc and Telkom\nCorp, which are engaged in the sale and telemarketing of\nconsumer electronic merchandise and do business as House of\nImports and N.L. Industries respectively.\n    The company said it paid a total of 8,700,000 dlrs,\nincluding the assumption of liabilities.\n    National Tech had sales of about 23 mln dlrs for 1986, it\nsaid.\n Reuter\n&#3;',0
'BELGIUM LAUNCHES BONDS WITH GOLD WARRANTS The Kingdom of Belgium is launching 100\nmln Swiss francs of seven year notes with warrants attached to\nbuy gold, lead manager Credit Suisse said.\n    The notes themselves have a 3-3/8 pct coupon and are priced\nat par. Payment is due April 30, 1987, and final maturity April\n30, 1994.\n    Each 50,000 franc note carries 15 warrants. Two warrants\nare required to allow the holder to buy 100 grammes of gold at\na price of 2,450 francs, during the entire life of the bond.\n    The latest gold price in Zurich was 2,045/2,070 francs per\n100 grammes.\n Reuter\n&#3;',0
'DATATRAK INC &lt;DTRK> 3RD QTR FEB 28 NET Shr profit nil vs profit nil\n    Net profit 27,622 vs profit 5,556\n    Sales 1,031,306 vs 840,906\n    Nine mths\n    Shr loss one ct vs loss two cts\n    Net loss 195,095 vs loss 445,379\n    Sales 2,702,085 vs 2,219,961\n Reuter\n&#3;',0
'MIYAZAWA SAYS YEN STILL INSIDE PARIS RANGE Japanese Finance Minister Kiichi\nMiyazawa said the strengthening of the yen against the dollar\nsince the Paris Agreement was within the range agreed in the\nLouvre discussions.\n    \"I would say that what has happened (to the yen) in the past\nseveral weeks was not outside the range we agreed to in the\ndiscussions in Paris,\" Miyazawa told a press conference\nfollowing the Group of Seven meeting here.\n    He said the current discussions were a \"reaffirmation\" of\nthat agreement, saying the \"solidarity\" that occurred in Paris\nwas still in place.\n Reuter\n&#3;',0
'TODD SHIPYARDS &lt;TOD> STRUCK ON WEST COAST Todd Shipyards Corp said\nproduction workers represented by the multi-union Pacific Coast\nMetal Trades District Council at its San Francisco division\nstruck on April Six.\n    It said negotiations are expected to resume at the end of\nthis month.\n    Todd also said the collective bargaining division in effect\nat its Galveston Division expires April 17, and negotiations\nwith the Galveston Metal Trades Council are continuing.\n    The company said results of balloting on a new collective\nbargaining agreement proposal in its Seattle Division are\nexpected to be tabulated at the close of business tomorrow.\n    The Pacific Coast Council has recommended acceptance of\nthat proposal by membership, Todd said.\n                                       \n Reuter\n&#3;',0
'U.S. FIRST TIME JOBLESS CLAIMS FELL IN WEEK New applications for unemployment\ninsurance benefits fell to a seasonally adjusted 338,000 in the\nweek ended March 28 from 355,000 in the prior week, the Labor\nDepartment said.\n    The number of people actually receiving benefits under\nregular state programs totaled 2,436,000 in the week ended\nMarch 21, the latest period for which that figure was\navailable.\n    That was down from 2,480,000 the previous week.\n     \n Reuter\n&#3;',0
'CLEVITE INDUSTRIES SAYS J.P. INDUSTRIES OFFERED 13.50\nDLRS A SHARE TO BUY COMPANY\n ',0
'SUNTRUST BANKS INC &lt;STI> 1ST QTR NET Shr 54 cts vs 49 cts\n    Net 70.2 mln vs 64.0 mln\n    NOTE: Share adjusted for two-for-one split in July 1986.\n    Results restated for pooled acquisition of Third NAtional\nCorp in December 1986.\n    Net chargeoffs 15.0 mln dlrs vs 14.2 mln dlrs.\n    Assets 25.8 billion dlrs, up 7.2 pct from a year earlier,\ndeposits 21.1 billion, up 9.4 pct, and loans 17.1 billion dlrs,\nup 17.2 pct.\n Reuter\n&#3;',0
'INTERNATIONAL THOMSON TO REPORT IN U.S. FUNDS &lt;International Thomson Organisation Ltd>\nsaid it will report financial results in U.S. funds rather than\nsterling, beginning from Jan 1, 1987.\n    It said the change will not be applied retroactively to\nprior financial periods.\n    The company said as a result of recent investments, most of\nits assets now are located in the United States.\n            \n Reuter\n&#3;',0
'PHILIP CROSBY ASSOCIATES INC &lt;PCRO> 4TH QTR NET Shr three cts vs 18 cts\n    Net 220,000 vs 1,250,000\n    Revs 11.8 mln vs 9,430,000\n    Year\n    Shr 45 cts vs 69 cts\n    Net 3,400,000 vs 4,037,274\n    Revs 45.1 mln vs 34.3 mln\n Reuter\n&#3;',0
'COLONIAL AMERICAN BANKSHARES CORP &lt;CABK> 1ST QTR Shr 52 cts vs 40 cts\n    Qtly div 18 cts vs 15 cts prior\n    Net 793,740 vs 603,661\n    NOTE: Share adjusted for 10 pct stock dividend in November\n1986.\n    Dividend pay May One, record April 25.\n Reuter\n&#3;',0
'RPT - ARGENTINE GRAIN/OILSEED EXPORT PRICES ADJUSTED The Argentine Grain Board adjusted\nminimum export prices of grain and oilseed products in dlrs per\ntonne FOB, previous in brackets, as follows:\n    Sorghum 64 (63), sunflowerseed cake and expellers 103 (102)\n, pellets 101 (100), meal 99 (98), linseed oil 274 (264),\ngroundnutseed oil 450 (445), soybean oil 300 (290), rapeseed\noil 290 (280).\n    Sunflowerseed oil for shipment through May 323 (313) and\njune onwards 330 (320).\n    The board also adjusted export prices at which export taxes\nare levied in dlrs per tonne FOB, previous in brackets, as\nfollows:\n    Bran pollard wheat 40 (42), pellets 42 (44).\n REUTER\n&#3;',0
'CLEVITE &lt;CLEV> GETS 13.50 DLR/SHR OFFER Clevite Industries Inc said it\nreceived a written proposal from J.P. Industries Inc &lt;JPI>\nseeking to buy all of its outstanding shares for 13.50 dlrs a\nshare.\n    Clevite\'s stock was trading on NASDAQ at 13-1/4.\n    J.P. Industries recently completed the acquisition of\nClevite\'s Engine Parts Division.\n    J.P. Industries said its proposed transaction would be\nfinanced through borrowings under its available bank lines and\na bridge financing facility which Donaldson Lufkin and Jenrette\nSecurities Corp agreed to arrange.\n    To expedite the transaction, J.P. Industries said it would\nbe willing to start a cash tender for Clevite\'s shares within\nfive days after agreeing upon a definitive merger and\nconfirmation of Clevite\'s financial results and condition.\n\n Reuter\n&#3;',0
'JAPAN BUSINESS LEADERS SAY G-7 ACCORD WORRYING The leaders of two of Japan\'s top business\ngroups said in separate statements the Group of Seven (G-7)\naccord reached in Washington yesterday is of deep concern to\nJapan because it shows the major industrial nations regard the\nyen\'s current level as appropriate.\n    Eishiro Saito, chairman of the Federation of Economic\nOrganizations (Keidanren), said the yen\'s present rate is well\nabove adequate levels. He did not elaborate.\n    Takashi Ishihara, chairman of the Japan Committee for\nEconomic Development, said the accord will not prevent the yen\nfrom rising further.\n    \"We do not understand why the G-7 approved present rates as\nthe yen has risen excessively since the Paris accord,\" Ishihara\nsaid.\n Reuter\n&#3;',0
'ARGENTINE CATTLE MARKET REPORT ABOUT 3,314 HEAD OF CATTLE WERE\nAUCTIONED IN LINIERS CATTLE MARKET, AGAINST 13,952 ON WEDNESDAY\nAND 9,217 LAST THURSDAY, TRADE SOURCES SAID.\n    MAXIMUN PRICES, IN AUSTRALES PER KILO, WITH DOLLAR\nEQUIVALENT IN BRACKETS, INCLUDED:\n                               TODAY     WEDNESDAY\n    STEERS OVER 480 KILOS   1.02(0.658) 1.015(0.654)\n    STEERS 460 TO 480 KILOS 1.05(0.677) 1.032(0.665)\n    COWS FOR CANNING        0.56(0.361) 0.56 (0.361) REUTER\n&#3;',0
'U.K. MONEY MARKET DEFICIT REVISED DOWNWARD The Bank of England said it has revised\nits estimate of today\'s shortfall to 350 mln stg from 400 mln,\nbefore taking account of 103 mln stg morning assistance.\n REUTER\n&#3;',0
'PHYSIO TECHNOLOGY &lt;PHYT> SEES LOSS, IN DEFAULT Physio Technology Inc said it\nexpects to have a third quarter, ended March 31, loss of about\n200,000 dlrs and is in default on its bank loan because of the\nresignation of chairman and chief executive officer.\n    The company said the loss followed four quarters of modest\nprofits. In the year ago quarter it earned 11,000 dlrs, or one\ncent a share. For the first half of fiscal 1987, it reported a\nprofit of 42,000 dlrs, or two cts a share, compared to a year\nearlier loss of 294,000 dlrs, or 17 cts a share.\n    It said President Michael R. Hall will assume the duties of\nchief executive officer.\n    Physio Technology said the resignation of Chairman James C.\nLane can constitute non-compliance with its Series A\nconvertible subordinated debentures due 1996 and a default\nunder its agreement with the Merchants Bank of Kansas City.\n    It explained a declaration of non-compliance under the\ndebentures would create a a default under the loan agreements\nrequiring immediate payment of 1.8 mln dlrs of debentures and\nabout 450,000 dlrs outstanding under the bank credit line.\n    The company said the debenture holders intend to waive the\nnon-compliance, but reserve the right to withdraw the waiver at\nthe end of any 30 day period.\n    Physio Technology said it is changing its field sales force\nto independent representatives and dealers from employees to\n\"significantly reduce its fixed overhead.\"\n    Its statement did not indicate how many employees would be\naffected by the move.\n    The company said Lane will become an independent dealter\nfor the company in certain midwestern states. He will continue\nto serve as a director, it added.\n Reuter\n&#3;',0
'WASHINGTON FEDERAL SAVINGS &lt;WFSL> 2ND QTR NET Qtr ends March 31\n    Shr one dlr vs 76 cts\n    Net 11.9 mln vs 8,929,000\n    Six mths\n    Shr 1.92 dlrs vs 1.43 dlrs\n    Net 22.8 mln vs 16.8 mln\n    NOTE: full name of bank is washington federal savings and\nloan association.\n Reuter\n&#3;',0
'U.S. ENERGY FUTURES CALLED UNCHANGED TO LOWER Traders expect U.S. energy futures will\nopen unchanged to slightly lower this morning with support near\nyesterday\'s lows.\n    Crude futures are called unchanged to five cts weaker\ntracking unchanged domestic crudes and North Sea Brent crude,\nwhich traded at 18.01 dlrs a barrel today, about ten cts below\nyesterday\'s New York close.\n    Traders said the supply squeeze in 15-day forward April\nBrent appears to have ended.\n    Product futures, which fell sharply yesterday, are due to\nopen unchanged to 0.25 cent lower, traders said.\n    Traders expect some followthrough selling in products but\nsaid gasoil futures in London will probably lend some support\nsince they are trading as expected. May gasoil futures were off\n1.50 dlrs a tonne this morning while June was down 1.25 dlrs in\nthin conditions.\n Reuter\n&#3;',0
'PONCE FEDERAL BANK F.S.B. &lt;PFBS> 1ST QTR NET Shr 63 cts vs 89 cts\n    Net 3,425,216 vs 3,370,682\n    Avg shrs 5,421,330 vs 3,803,425\n    NOTE: net for both qtrs reflects gains on sales of\nsecurities of 1,755,137, or 51 pct of net, in 1987; and\n3,001,222, or 89 pct of net in 1986.\n Reuter\n&#3;',0
' BUNDESBANK SEES NO REASON TO CHANGE MONETARY COURSE -\nVICE-PRESIDENT SCHLESINGER\n ',0
'U.K. MONEY MARKET DEFICIT REMOVED The Bank of England said it has satisfied\nits revised estimate of today\'s shortfall in the money market,\nproviding 261 mln stg assistance in afternoon operations.\n    The Bank bought in band one, 60 mln stg bank bills at 9-7/8\npct and in band two 200 mln stg bank bills and one mln stg\ntreasury bills at 9-13/16 pct. This brings the total help so\nfar today to 364 mln stg, compared with its deficit estimate of\n350 mln stg.\n REUTER\n&#3;',0
'LEBANESE POUND FALLS SHARPLY AGAINST DOLLAR The Lebanese Pound fell sharply against\nthe U.S. Dollar again today with dealers attributing the\ndecline to continued political uncertainty.\n    The pound closed at 118.25/118.75 against the dollar\ncompared to yesterday\'s close of 115.60/115.80.\n    \"Political deadlock is reflected in the pound\'s position.\nThere was more demand and less on offer in the market,\" one\ndealer told Reuters.\n    The pound, which was at 18 to the dollar in January, 1986,\nhas lost more than 30 pct of its international value over the\npast three months.\n REUTER\n&#3;',0
'BROWN BOVERI UND CIE AG LIFTS 1986 DIVIDEND Dividend on 1986 business 12 marks per share vs seven\nmarks.\n    (Company is a subsidiary of Switzerland\'s BBC AG Brown\nBoveri und Cie &lt;BBCZ.Z>).\n Reuter\n&#3;',0
'LONDON FREIGHT MARKET FEATURES GRAIN OUT OF U.S. Moderately active grain fixing was\nreported out of the U.S. But none of the business involved the\nsignificant voyages to the Continent or Japan, ship brokers\nsaid.\n    A steady 13.50 dlrs was paid from the U.S. Gulf to Morocco\nand 23.25 dlrs was paid for 27,000 long tons from the Gulf to\nTaiwan. A vessel carrying 13,500 long tons of bagged wheat\nflour from the Gulf to Aqaba received a lump sum of 472,500\ndlrs.\n    Grain from the Great Lakes to Algeria made 28 dlrs against\n27.75 paid for similar fixing towards the end of March.\n    Market talk suggested a Federal Commerce vessel had been\nbooked to move grain from the Great Lakes to Morocco on Comanav\naccount at about 22 dlrs and 15.50 had been paid for a cargo of\noilseeds from British Columbia to Japan, but no confirmation\nwas obtainable.\n    On the Continent, shippers agreed 19 dlrs for wheat from La\nPallice to Buenaventura and 10.75 dlrs for grain from Ghent to\nNaples/Venice range. Elsewhere, maize from East London to Japan\npaid 22 dlrs.\n    Soviet charterers reappeared in the timecharter sector and\nsecured a 30,000 tonner from Savona for a trans-Atlantic round\ntrip at 4,450 dlrs daily and a 31,000 tonner from\nAntwerp-Hamburg for a similar voyage at 4,250 dlrs daily.\n Reuter\n&#3;',0
'HOG AND CATTLE SLAUGHTER GUESSTIMATES Chicago Mercantile Exchange floor\ntraders and commission house representatives are guesstimating\ntoday\'s hog slaughter at about 287,000 to 295,000 head versus\n292,000 week ago and 322,000 a year ago.\n    Cattle slaughter is guesstimated at about 124,000 to\n128,000 head versus 129,000 week ago and 134,000 a year ago.\n Reuter\n&#3;',0
'WHIRLPOOL CORP 1ST QTR SHR 66 CTS VS 67 CTS\n ',0
'BRAZILIAN SOY RAINFALL THE FOLLOWING RAINFALL WAS RECORDED IN\nTHE 24 HOURS UP TO (1200) GMT TODAY\n    PARANA STATE: CASCAVEL NIL, PONTA GROSSA NIL,CAMPO MOURAO\nNIL, LONDRINA NIL, MARINGA NIL.\n    RIO GRANDO DO SUL STATE: PASSO FUNDO NIL, SANTA MARIA 7.0\nMILLIMETRES, CRUZ ALTA 8.5 MM, SAO LUIZ GONZAGA 4.4 MM. REUTER\n&#3;',0
'BUNDESBANK SEES NO CHANGE IN MONETARY COURSE The Bundesbank sees no current reason\nto change monetary course, vice-president Helmut Schlesinger\ntold Reuters in a telephone interview.\n    Schlesinger was responding to questions following remarks\nyesterday by Bundesbank board member Claus Koehler and West\nBerlin state central bank president Dieter Hiss, which, dealers\nsaid, revived some speculation that German interest rate cuts\nmay once again be under discussion.\n    Schlesinger said he had no comment on the remarks of his\ntwo central bank council colleagues.\n    But he added that the last central bank council meeting on\nApril 2 had discussed the economic situation with a mood of\n\"subdued optimism,\" particularly influenced by the news brought\nby several state central bank presidents.\n    \"Much is going better than the impression gained by the\npublic from the January figures, which have been in the\nmeantime superseded,\" he said.\n    German January industrial output fell 3.0 pct after a\ndecline of 0.9 pct in December. New industry orders fell 1.9\npct after they had been unchanged in December.\n    Bank economists said that the two together showed the\neconomy would either stagnate or contract in the first quarter\nof 1987.\n    Aside from the economic developments, Schlesinger added, a\nsteady monetary course was important to hold the dollar/mark\nrate around current levels as Bundesbank president Karl Otto\nPoehl had said while attending the Washington World Bank/IMF\nmeeting.\n    Asked, however, if the Bundesbank could move to cut rates\non repurchase agreements at the setting of the next repurchase\ntender, due next Tuesday, Schlesinger said, \"Since the central\nbank council gives its opinion on this theme only every 14\ndays, this is hardly probable.\"\n    Responding to the question whether the Bundesbank had moved\naway from a policy of targetting monetary growth toward one of\ntargetting currency rates, Schlesinger said he could have no\ncomment on the subject while negotiations were still in\nprogress in Washington.\n REUTER\n&#3;',0
'BRAZILIAN COFFEE RAINFALL THE FOLLOWING RAINFALL WAS RECORDED IN\nTHE AREAS OVER THE PAST 24 HOURS\n    PARANA STATE: UMUARAMA NIL, PARANAVAI NIL, LONDRINA NIL,\nMARINGA NIL.\n    SAO PAULO STATE PRESIDENTE PRUDENTE NIL, VOTUPORANGA NIL,\nFRANCA NIL, CATANDUVA NIL, SAO CARLOS NIL, SAO SIMAO NIL.\n    MINAS GERAIS STATE: GUAXUPE NIL, TRES PONTAS NIL. REUTER\n&#3;',0
'E.F. HUTTON LBO INC SAID TENDER OFFER BY PC ACQUISITTION\nFOR PUROLATOR COURIER EXPIRED\n ',0
'WORLD BANK TO SUPPORT SRI LANKA IF DEFICITS CUT The World Bank will support Sri Lanka\'s\ndevelopment program provided the country reduces its budget and\ncurrent account deficits, the Ministry of Finance said.\n    It said Bank President Barber Conable at a meeting with Sri\nLanka\'s Finance Minister Ronnie de Mel in Washington also\nemphasised the need for structural adjustment and reform to the\neconomy, battered by five years of separatist disturbances.\n    Officials said Sri Lanka\'s budget deficit this year is\nexpected to surpass the projected 28.7 billion rupees while\ndefence spending, already up by two billion rupees from a\ntargetted 10 billion, is also likely grow.\n    The Ministry said de Mel asked the World Bank to give Sri\nLanka 6.5 billion rupees balance of payments support.\n REUTER\n&#3;',0
'E.F. HUTTON LBO INC SAYS UNIT TERMINATES MERGER AGREEMENT\nWITH PUROLATOR COURIER\n ',0
'GEMINA HAS NO COMMENT ON AMBROSIANO REPORT Holding company &lt;Gemina Spa> said it had\nno comment on an Italian press report today that it has\nacquired a 12 pct stake in &lt;Nuovo Banco Ambrosiano Spa>.\n    Italian daily La Repubblica said that Gemina paid 205\nbillion lire for the shareholding from several Italian banks. A\nGemina spokeswoman told Reuters, \"We have nothing to say about\nthe report.\"\n    A spokeswoman for Milan-based Ambrosiano said, \"We have no\ninformation at this time.\" In February, Ambrosiano chairman\nGiovanni Bazoli said foreign and domestic firms have expressed\ninterest in buying stakes in the bank.\n    REUTER\n&#3;',0
'VOLKSWAGEN DIVIDEND UNCHANGED ON 1986 Dividend on 1986 business unchanged at 10 marks per\nordinary share. Company also set dividend of 11 marks for new\npreference shares, which were issued last year.\n    (Note: Company has said profit will match 1985 level,\ndespite provisions of 480 mln marks connected with alleged\ncurrency fraud. Group net profit in 1985 was 596 mln marks,\nparent company net was 477 mln marks. Company\'s full name is\nVolkswagen AG &lt;VOWG.F>).\n REUTER\n&#3;',0
'WHIRLPOOL CORP &lt;WHR> 1ST QTR NET Shr 66 cts vs 67 cts\n    Net 48,700,000 vs 49,300,000\n    Sales 961.0 mln vs 870.6 mln\n    Avg shrs 74,123,837 vs 73,374,398\n Reuter\n&#3;',0
'U.S. SAID TO VIEW G-7 MEETING AS MAJOR SUCCESS The United States, which has long\nsought Japanese action to stimulate its economy, appears to be\nsatisfied Tokyo\'s latest package is a major development and\nallows leading industrial nations to reaffirm their agreement\nto stabilize currencies.\n    Monetary sources said they believed that U.S. Treasury\nSecretary James Baker considered Tokyo\'s package, announced\nyesterday, to be a major stimulation of the Japanese economy.\n    But yesterday\'s statement by seven leading industrial\npowers endorses the yen\'s rise from around 153 to the dollar,\nthe level at the February 22 Paris Accord, to about 145 today.\n    And the initial reaction of currency markets in the Far\nEast demonstrates that financial markets are unconvinced that\ncurrencies yet reflect economic fundamentals, even though the\ncountries appear to do so. The yen sank below 145 at one point\ndespite intervention by the Bank of Japan.\n    Kiichi Miyazawa, Japan\'s Finance Minister, said the\nmovement since Paris was consistent with currency trading\nranges the nations agreed to defend in the February talks.\n    \"I would say that what has happened (to the yen) in the past\nseveral weeks was not outside the range we agreed to in the\ndiscussions in Paris,\" Miyazawa said yesterday.\n    The supplementary budget worth about 34.48 billion dlrs was\nannounced by the ruling Liberal Democratic Party on the eve of\nMiyazawa\'s departure for Washington, to attend yesterday\'s\nmeetings of leading industrial nations.\n    In a strongly worded statement terming the Japanese action\n\"extraordinary and urgent\", the meeting reaffirmed the Paris\nAccord by noting that current exchange rates are within ranges\nbroadly consistent with fundamentals, or economic reality.\n    The Group of Seven -- the United States, Japan, West\nGermany, France, Britain, Italy and Canada -- therefore\nrepeated their willingness to continue close cooperation to\nfoster exchange rate stability.\n    The cooperation agreement has resulted in concerted central\nbank intervention of 8 billion to 9 billion dlrs to halt the\ndollar\'s fall. While relatively unsuccessful, the scale of\nintervention between so many nations is unprecedented in recent\nyears. Monetary sources also said they understood that\nSecretary Baker considered the meeting to be extremely\nsuccessful in the light of the Japanese announcement.\n    They also said there was a growing feeling among the\nfinance ministers and central bankers that cooperation over\nmedium-term policies has replaced the bickering over short-term\ndifferences in past meetings.\n    West Germany, whose currency has not risen anything like\nthe yen since the Paris Agreement, appears from the face of\nyesterday\'s statement to have won acceptance from other\ncountries that its exchange rate is acceptable.\n    Bonn\'s finance minister Gerhard Stoltenberg argues that\nmajor currency shifts needed to remedy the huge imbalance\nbetween West Germany and Japan\'s trade surpluses and America\'s\ntrade deficit have already taken place.\n    No mention was made, however, of the U.S. commitment to cut\nthe budget deficit even though it is implied in the\nreafffirmation of Paris.\n    European nations and Japan believe deficit cuts are\nessential to curbing the record U.S. trade shortfall that\nreached nearly 170 billion dlrs last year.\n    A similar argument was made on Capitol Hill earlier this\nweek by Federal Reserve Board chairman Paul Volcker. A further\nsharp fall to redress trade imbalances would \"clearly pose\nsubstantial risks of renewed inflationary momentum and could\nundermine confidence in future financial stability,\" he said.\n    Volcker warned a further dollar fall might force the\npolitically independent Fed to drive up interest rates.\n    Monetary sources said that, privately, West Germany\nwelcomed the rise in the yen against the dollar while its own\ncurrency remained relatively stable against the U.S. unit.\n    Bonn and other European nations worry that once the weak\ndollar blunts Tokyo\'s export drive to the United States, the\nJapanese monolith will concentrate on European markets.\n    The ministers, meanwhile, also continued talks on making\ntheir policy coordination more binding and one, Canadian\nFinance Minister Michael Wilson, said good progress was made.\n    Wilson said they will meet before the June Economic Summit\nto prepare a report for the leaders of the seven nations.\n    The United States and France, backed by the International\nMonetary Fund, want the seven to agree on ranges or \"norms\" for a\nlimited number of economic objectives such as growth,\ninflation, monetary conditions, trade balances and current\naccount balances.\n    Sharp deviations from these guidelines would result in\nconsultations between the countries on whether corrective\naction should be required.\n    But the inclusion of currencies as one of the objectives\nhas Bonn and London worried, monetary sources say, because it\nimplies Washington is moving in the direction of target zones.\n    The sources said the Reagan administration unsuccessfully\nsounded out its allies on a system of target zones to limit\ncurrency fluctuations just before the February meeting.\n    The concept is a much more rigid one than the secret ranges\nof the Paris Accord and would mark a sharp departure from the\nrelatively free currency markets of recent years.\n Reuter\n&#3;',0
'BANK OF FRANCE LEAVES INTERVENTION RATE UNCHANGED The Bank of France said it left its\nintervention rate unchanged at 7-3/4 pct when it injected funds\nin the market against first category paper in today\'s money\nmarket intervention tender.\n    Money market dealers had earlier expressed mixed views on\nthe possibility of quarter point cut.\n    The rate was last adjusted on March 9, when it was cut to\n7-3/4 pct from the eight pct rate set in January.\n REUTER\n&#3;',0
'GLOBAL ECONOMIC SLOWDOWN RAISES NEW DEBT FEARS The global economy is expected to\nweaken this year, adding new worries to an already serious\npoverty outlook, economic analysts said.\n    For finance ministers and central bankers attending this\nweek\'s semi-annual meetings of the International Monetary Fund\nand World Bank, the new figures released by the IMF add an\nadditional concern.\n    The Fund estimated world output would only grow by 2.7 pct\nthis year, versus 2.9 pct last year, and 3.1 pct in 1985.\n    In the industrial countries, Gross National Product, a\nmeasure of all goods and services, was expected to decline to\n2.3 pct this year, compared with 2.4 pct in 1986, the IMF said.\n    For the developing countries, the Gross Domestic Product,\nanother measure of economic growth, was expected to fall to 3.0\npct from 3.5 pct last year.\n    The new figures are considered a major disappointment to\nthe poorest countries. They had hoped that new vitality in the\nindustrial countries brought on by a sharp decline in oil\nprices would assist their economic recovery and help them cope\nwith growing mounds of debt.\n    IMF officials, discussing their outlook, said they believed\nthe industrial country economies would move up to an annual\ngrowth rate of three pct by the end of the decade.\n    Economic analysts and the IMF have been saying for some\ntime that the ability to keep the debt crisis from turning into\nan economic rout rests on sustained economic growth.\n    Since the debtor countries must look to the wealthier\nstates for markets for their products as well as financial\nassistance, economic weakness in the developed nations\' \neconomies poses fundamental worries.\n    Debtor countries, including the very poorest states, have\nonly a few avenues open to them for earning foreign exchange,\nincluding the key one of exports.\n    The U.S. economy, which is in its fifth year of expansion,\nhas served as a mainstay for developing country exports, but it\ntoo is seen as being rather feeble this year, growing by only\n2.3 pct, according to the IMF.\n    For this reason and because of a high trade deficit, the\nUnited States has been pressuring Japan and West Germany to\nignite their economies but with little apparent success.\n    The IMF study also examines the course of the dollar and\nthe curious lack of impact it has had on the U.S. trade\ndeficit.\n    Reagan administration officials have been saying that the\nimpact is now beginning to show up, although it has been much\nslower than expected.\n    The IMF observed in its World Economic Outlook that \"it has\nto be recognized that exchange rate adjustments take time to\nwork through to payments flows -- probably at least three years\nto get a resonably complete effect.\"\n    The report added, however, \"the adjustments may take even\nmore time on this occasion.\"\nREUTER^M\n&#3;',0
'SPANISH EMPLOYERS WORRIED BY HIGH INTEREST RATES The head of Spain\'s employers\'\nfederation, Jose Maria Cuevas, said employers were worried\nabout the government\'s monetary policies because high real\ninterest rates were hampering investment.\n    He told a news conference wage pacts signed so far this\nyear were not endangering the government\'s five pct inflation\ntarget. The government\'s perceived need to control inflation by\nkeeping a tight rein on credit was unnecessary, he said.\n    High real interest rates were attracting an influx of\nspeculative foreign capital which was undercutting the\ngovernment\'s target for monetary growth, Cuevas said.\n    Spain\'s most closely-watched measure of money supply,\nliquid assets in public hands, grew at an annualised rate of 17\npct in March, against 11.4 pct in December last year and a\ntarget range of 6.5 to 9.5 pct for 1987.\n    To combat this, the Bank of Spain has raised its call money\nrate 14 times so far this year, to 14.5 pct at present from\n11.8 at end-1986.\n    Cuevas said employers were heeding the government\'s call to\nhold wage increases to its five pct inflation target this year,\nwith increases from salary reviews awarded last year and new\nwage pacts averaging 5.6 pct in the first quarter of 1987.\n    These agreements covered less than 40 pct of Spanish\nworkers, Cuevas said, with the rest still in wage negotiations.\n    He said Spain\'s current wave of strikes mainly affected the\nstate sector, where the government is trying to impose its five\npct wage ceiling.\n    Cuevas said employers were also worried about the trend in\nSpain\'s foreign trade balance. The trade deficit in the first\ntwo months of 1987 totalled 233 billion pesetas, a 68 pct\nincrease over the corresponding period last year.\n    However, employers did not favour a devaluation of the\npeseta to correct the imbalance.\n REUTER\n&#3;',0
'SHOWBOAT &lt;SBO> DECLARES STOCK SPLIT Showboat Inc said its board declared a\ntwo-for-one stock split, payable to shareholders of record on\nMay 15.\n Reuter\n&#3;',0
'LEAD PRICES RISE ON FINELY BALANCED PHYSICALS Lead prices have risen this week against\na background of a finely balanced physical sector, traders\nsaid.\n    Further gains are possible if the USSR steps up its buying\nor if labour problems develop in North America, they added.\n    London Metal Exchange (LME) prices are unusually buoyant at\na time of year when seasonal demand is normally slackening and\nprices tending to drift lower.\n    This buoyancy is generally attributed by traders to the low\nlevel of LME stocks and steady, if unspectacular, physical\ndemand in the Northern Hemisphere finding supplies curtailed.\n    The supply problems are not new but are beginning to be\nfelt by a market in which, as peak winter demand tails off,\nstocks usually build fast and availability increases, traders\nsaid.\n    The lower supply levels result from a number of different\nfactors around the globe.\n    Delayed shipments from Peru to Mediterranean countries\nbecause of production and transport problems, lack of Spanish\nexports since the closure last year of Cia La Cruz\'s smelter at\nLinares and lower output in Morocco and Greece have all meant\nadditional demand being directed to merchants who in turn have\nbeen drawing on LME stocks.\n    In addition Broken Hill Associated Smelters\' Port Pirie,\nSouth Australia, smelter is halting production for five weeks\nfor maintenance. Although the company said it would meet\ncommitments, this will put further pressure on stocks.\n    And the U.S. Company Doe Run has kept its 140,000 tonnes\nper year Boss, Montana smelter closed. This cut producer stocks\nand contributed to a closer supply/demand balance within the\nU.S. Market, for many years depressed by surplus production and\na regular supplier to the world market.\n    Mexican supplies, which have sometimes swelled LME stocks,\nhave been normal but are finding ready buyers, traders said.\n    On the demand side, winter battery manufacture has held up\nquite well and some U.S. Buying of lead sheet has been reported\nin the U.K. Soviet lead buying, notably absent in Europe in the\nfirst two months of the year, was resumed when a large buying\norder was filled by merchants in March.\n    Merchant demand has fuelled the rise in LME lead prices\nthis week and has seen cash metal move above 320 stg and\nestablish a premium of around 10 stg over three months\ndelivery. Specific demand has been directed towards metal in\nGothenburg and Trieste warehouses. Gothenburg material is often\na target for merchants shipping to the USSR, traders said.\n    On stocks, the popular LME Continental warehouses, Antwerp\nand Rotterdam, have little more than 3,000 tonnes of lead each,\nand this is believed to be in strong hands.\n    Out of a total 22,125 tonnes in LME stocks, the lowest\nlevel since June 1980, just over half is in U.K. Warehouses\nwhich are not popular with merchants putting together\nshipments.\n    But even U.K. Stocks have dropped around 6,000 tonnes since\nthe start of the year. Traders said this is partly due to\nsecondary smelters buying ingots to supplement feed supplies\naffected by environmental controls, which put restrictions on\nthe transport of used batteries.\n    Labour negotiations in North America will play an important\npart in determining the direction of prices, with contracts\nexpiring end-April at Cominco\'s Trail and Kimberley, B.C.,\nMine/smelter and at Doe Run\'s Herculaneum, Mo, smelter.\n    Noranda\'s New Brunswick mine/smelter also has a contract\nexpiry in July which may cause some nervousness in view of\nstrikes by its zinc and copper workers over recent months.\n    Traders said LME three months delivery, already attracting\nspeculative buying, could rise to 320/330 stg on current\nfirmness, while nearby tightness could widen the cash premium\nto 20 from four. Three months was quoted at 313 stg at\nmidsession.\n Reuter\n&#3;',0
'REXHAM CORP &lt;RXH> 1ST QTR NET Shr 70 cts vs 42 cts\n    Net 2,918,000 vs 1,746,000\n    Sales 68.3 mln vs 53.5 mln\n    NOTE: 1987 net includes pretax gain 400,000 dlrs from\nchange in pension accounting.\n    1987 results include Production Graphics Corp and Systems\nTechnology and Weapons System Test Divisions of NEw Technology\nInc, acquired December 30, 1986.\n Reuter\n&#3;',0
'FIRST EASTERN CORP &lt;FEBC> 1ST QTR NET Shr 50 cts vs 47 cts\n    Net 3,445,000 vs 3,193,000\n    NOTE: Share adjusted for two-for-one stock split in January\n1987.\n Reuter\n&#3;',0
'FHLBB CHANGES SHORT-TERM DISCOUNT NOTE RATES The Federal Home Loan Bank Board\nadjusted the rates on its short-term discount notes as follows:\n    MATURITY   NEW RATE  OLD RATE  MATURITY\n  30-174 days  5.00 pct  5.00 pct    30-87 days\n 175-190 days  5.85 pct  5.82 pct   88-103 days\n 191-270 days  5.00 pct  5.00 pct  104-179 days\n 271-288 days  5.92 pct  5.85 pct  180-205 days\n 289-360 days  5.00 pct  5.00 pct  206-360 days\n                       \n Reuter\n&#3;',0
'ANCHOR FINANCIAL &lt;AFCX> TO MAKE ACQUISITION Anchor Financial Corp said it\nhas agreed to acquire Waccamaw State Bank of Surfside Beach,\nS.C., in an exchange of 1.435 Anchor shares for each Waccamaw\nshare, subject to regulatory and shareholder approvals.\n    Waccamaw had assets of 22.8 mln dlrs as of March 31.\n Reuter\n&#3;',0
'STOLTENBERG NOT SURPRISED BY DOLLAR REACTION West German Finance Minister Gerhard\nStoltenberg said he was not surprised by the overnight decline\nof the dollar in foreign exchange markets.\n    Speaking briefly with reporters before entering a meeting\nof the International Monetary Fund he said, \"These minor\nmovements don\'t really affect us.\"\n    The dollar declined in the initial reaction to a statement\nby the Group of Seven industrial countries reaffirming their\nParis agreement in February to maintain their currencies around\ncurrent levels.\n Reuter\n&#3;',0
'ASARCO UPS U.S. LEAD PRICE 0.50 CT TO 26.50 CTS Asarco Inc said it is increasing its\nbase spot sales price for refined lead by one-half cent to\n26.50 cents a lb, FOB, delivered in carload lots, effective\nimmediately.\n Reuter\n&#3;',0
'E.F. HUTTON &lt;EFH> UNIT\'S PUROLATOR OFFER EXPIRES E.F. Hutton LBO Inc said the tender\noffer by its wholly owned unit, PC Acquisition Inc, for\nPurolator Courier Corp &lt;PCC> expired at 2400 EDT yesterday\nwithout the purchase of any Purolator common stock.\n    Hutton added that PC Acquisition also terminated its merger\nagreement with Purolator.\n    Hutton said the offer, which had been conditioned upon the\ntender of at least 5,116,892 Purolator shares, or about\ntwo-thirds of the outstanding shares, was terminated because\nthe minimum number of shares was not tendered.\n    Purolator had entered into a definitive agreement with PC\nAcquisition, part-owned by E.F. Hutton LBO Inc, a unit of E.F.\nHutton, and some officers of Purolator\'s U.S. courier division,\nin which PC offered to purchase 6,332,471 Purolator common\nstock shares for 35 dlrs a share.\n    Following that move, PC Acquisition planned to merge a\nsubsidiary into Purolator, converting all outstanding Purolator\ncommon it did not own into an aggregate 46 mln dlrs principal\namount of 12 pct guaranteed debentures due 2002 and warrants to\npurchase 15 pct of a Purolator unit comprised of Purolator\'s\nU.S courier operations.\n    Hutton said as of 2400 EDT yesterday about 181,000 shares\nof Purolator common stock, or about 2.4 pct of the outstanding\nshares, had been validly tendered and not withdrawn.\n    PC Acquisition has instructed its depository for the offer\nto return promptly the Purolator stock deposited by, or on\nbehalf of, tendering shareholders, Hutton said.\n Reuter\n&#3;',0
'ABBOTT LABORATORIES 1ST QTR NET SHR 62 CTS VS 52 CTS\n ',0
'INDIA FOODGRAIN TARGET 160 MLN TONNES IN 1987/88 India\'s national foodgrain target has\nbeen fixed at 160 mln tonnes in 1987/88 (Apr-Mar), unchanged\nfrom the 1986/87 target, the Agriculture Ministry said in its\nannual report for 1986/87.\n    Actual output was estimated at 151 mln tonnes in 1986/87\ndue to failure of monsoon rains in 15 out of 35 meterological\nsub-divisions of the country.\n    The report gave the targets for various crops with\nestimated harvested crops in 1986/87 in brackets as following,\nin mln tonnes - rice 65 (60), wheat 49 (49), coarse grains\nincluding sorghum and millets 32 (29) and pulses 14 (13).\n    Despite failure of monsoon rains in recent years, it was\npossible to maintain higher foodgrain production, signifying\ngrowing resilience in agricultural sector, the report said.\n    The strategy for increasing irrigation potential along with\ngreater use of high yielding seed varieites and improvement in\nfertiliser efficiency is yielding results, it said, adding\ntotal foodgrain output in 1985/86, 1984/85 and 1983/84\nrespectively was 150.5 mln tonnes, 145.5 mln and a record 152.4\nmln.\n   India has targeted to produce between 178 and 183 mln tonnes\nof foodgrains by the last year of the seventh five-year\ndevelopment plan ending March 31, 1990.\n    Taking the midpoint of 180 mln tonnes as the target and the\n1986/87 estimated production of around 151 mln tonnes, the gap\nof 29 mln tonnes has to be made up during the remaining three\nyears of the plan by increasing grain output annually by more\nthan nine mln tonnes. But the target can be achieved only with\ngood weather, the report said.\n    \"The major thrust programme will, therefore, be better water\n(irrigation) management. Simultaneously, efforts for spread of\nimproved technology including timely use of inputs (farm\nmaterials like fertilisers) in adequate quantities have to be\nvigrously pursued,\" it said.\n Reuter\n&#3;',0
'CERTIFICATED COTTON STOCKS Certificated cotton stocks deliverable\non the New York Cotton Exchange No 2 cotton futures contract as\nof April 8 were reported at 34,661 bales, down 421 bales from\nthe previous day\'s figure. There were no bales awaiting review\nand 1,218 bales awaiting decertification.\n Reuter\n&#3;',0
'REICHHOLD CHEMICAL &lt;RCI> SETS ANTI-TAKEOVER PLAN Reichhold Chemical Inc said its\nboard adopted a warrant dividend plan in which one preferred\nstock purchase right will be distributed as a dividend on each\ncommon share outstanding.\n    The company said its warrant dividend plan is designed to\nprotect its shareholders against unsolicted, coercive attempts\nto aquire control without making an adequate offer for all\nshares.\n    Reichhold said the adoption is not a response to any\nspecific takeover attempt.\n    Reichhold said each right will entitle shareholders to buy\none one-hundreth of a share of a newly created series of\npreferred stock at an initial exercise price of 120 dlrs, with\ndividend and voting rights approximately equal to those of one\nshare of the company\'s common stock.\n    The rights will be exercisable only if, without Reichhold\'s\nprior consent, a person or group a acquires 20 pct or more of\nthe voting power or announces a tender offer which would result\nin 20 pct ownership, the company said.\n    Reichhold said it is entitled to redeem the rights at five\ncts apiece before a 20 pct position has been acquired, or\nbefore an existing 20 pct shareholder buys an additional two\npct or more of the voting power of the company, or in\nconnection with certain transactions afterward.\n    The tax-free distribution will become effective May 1,\n1987, and will expire 10 years later, the company said.\n    Details of the plan are outlined in a letter to be mailed\nto stockholders.\n Reuter\n&#3;',0
'ABBOTT LABORATORIES INC &lt;ABT> 1ST QTR NET Shr 62 cts vs 52 cts \n    Net 142.0 mln vs 123.0 mln\n    Sales 1.00 billion vs 865.0 mln\n\n Reuter\n&#3;',0
'HANSON &lt;HAN> TO BUY INT\'L PROTEIN &lt;PRO> STOCK International Proteins Corp said\nit has agreed to sell in a private placement 330,000 common\nshares at 11.75 dlrs a share to a U.S. subsidiary of Hanson\nTrust Plc.\n    In addition, David Clarke the president of another Hanson\nTrust subsidiary, Hanson Industries, will be named chairman of\nInternational Proteins\'s executive committee upon his election\nto the board at the annual meeting.\n    International Proteins recently acquired Clarke\'s family\nbusiness, Great South Beach Sales Co, for 900,000 restricted\ncommon shares of which 350,000 have been issued to date.\n    International Proteins said its agreement with Hanson Trust\nis subject to stockholder approval at the annual meeting which\nis expected to be held in June.\n    The company said Hanson Trust is purchasing the stock for\ninvestment purposes, adding the agreement includes restrictions\non purchase or sale of the company by Hanson for the next five\nyears.\n    International Proteins said it will use the proceeds to\nexpand domestic operations.\n    The company has about 2.1 mln shares outstanding.          \n \n Reuter\n&#3;',0
'EGYPT BUYS PL 480 WHEAT FLOUR - U.S. TRADERS Egypt bought 125,723 tonnes of U.S.\nwheat flour in its PL 480 tender yesterday, trade sources said.\n    The purchase included 51,880 tonnes for May shipment and\n73,843 tonnes for June shipment. Price details were not\navailable.\n Reuter\n&#3;',0
'SPAIN HAS 35 MLN DLR CURRENT SURPLUS FEBRUARY Spain had a 35 mln dlr current account\nsurplus in February compared with a 68 mln dlr surplus in\nJanuary and a 355 mln dlr surplus in February last year, Bank\nof Spain figures show.\n    Spain\'s trade deficit narrowed to 581 mln dlrs compared\nwith 664 mln dlrs in January but the large increase in non-oil\nimports contributed to the substantial increase over the 159\nmln dlr deficit registered in February 1986.\n    Exports at 2.58 billion dlrs were up 19 pct compared with\nFebruary last year, but imports were 46 pct higher than last\nFebruary, totalling 3.16 billion dlrs.\n    Non-oil imports totalled 2.79 billion dlrs compared with\n1.91 billion in February last year, reflecting the large\nammount of investment goods entering the country with the\nrecovery of the Spanish economy, the Bank of Spain said.\n    Spain\'s tourism earnings continued to grow and totalled 655\nmln dlrs in February, compared with 103 mln dlrs in January and\n502 mln dlrs in February last year.\n REUTER\n&#3;',0
'INDIA OILSEED OUTPUT FORECAST TO RISE India\'s oilseed output is expected to\nrise to 12.25 mln tonnes in 1986/87 ending October, up on 11.15\nmln in 1985/86 but down from 12.95 mln harvested in 1984/85,\nthe Agriculture Ministry\'s 1986/87 report said.\n    But the forecast for 1986/87 is well below a target of 14.8\nmln tonnes fixed for the year, it said, adding bad weather hit\ngroundnut and other oilseed crops.\n    The National Oilseeds Development Program will invest 300\nmln rupees in 1986/87 on supplying improved high-yielding seeds\nand other support services to help boost production, it added.\nIndia imports about 1.2 mln tonnes of edible oils a year.\n Reuter\n&#3;',0
'EXXON &lt;XON> SOUTH AFRICAN UNIT ACQUIRED BY ZENEX &lt;Zenex Oil Pty Ltd> said it\nacquired the interests of Esso South Africa, the local\nsubsidiary of Exxon Corp &lt;XON), and will use up to 20 mln rand\nin profits to finance educational and social programs.\n    The profit scheme will begin after Zenex has paid Exxon an\nundisclosed purchase price for Esso, Zenex chairman John\nTruscott said in a statement.\n    The acquisition follows the Exxon withdrawal from South\nAfrica announced last December.\n Reuter\n&#3;',0
'SALLIE MAE ADJUSTS SHORT-TERM DISCOUNT NOTE RATES The Student Loan Marketing\nAssociation said its rates on short-term discount notes were as\nfollows:\n    MATURITY   NEW RATE    OLD RATE  MATURITY\n    5-14 days  5.80 pct    5.75 pct     5-14 days\n  15-360 days  5.00 pct    5.00 pct    15-85 days\n                           5.80 pct    86-91 days\n                           5.00 pct   92-176 days\n                           5.83 pct  177-183 days\n                           5.00 pct  184-360 days\n Reuter\n&#3;',0
'FREDDIE MAC ADJUSTS SHORT-TERM DISCOUNT RATES The Federal Home Loan Mortgage Corp\nadjusted the rates on its short-term discount notes as follows:\n   MATURITY   RATE       OLD RATE  MATURITY\n    33 days   6.00 pct   6.00 pct  33 days\n  \n Reuter\n&#3;',0
'ARGENTINE GRAIN BELT WEATHER REPORT ARGENTINE GRAIN BELT TEMPERATURES\n(CENTIGRADE) AND RAIN (MM) IN THE 24 HOURS TO 12.00 GMT WERE:\n    ...............MAX TEMP..MIN TEMP..RAINFALL\n    BUENOS AIRES.......24.......12............0\n    BAHIA BLANCA.......22........7............0\n    TRES ARROYOS.......22........8............0\n    TANDIL.............22........7............0\n    JUNIN..............24.......11............0\n    SANTA ROSA.........--........6............0\n    CORDOBA............23.......12............1\n    SANTA FE...........21.......18...........17 REUTER\n&#3;',0
'VW SAYS 480 MLN MARKS MAXIMUM FOR CURRENCY LOSSES Losses for Volkswagen AG\n&lt;VOWG.F>, VW, linked to an alleged foreign currency fraud will\nnot exceed the 480 mln marks provision already made, a VW\nspokesman said.\n    The spokesman was commenting after VW had confirmed it\nwould pay an unchanged 10 mark dividend for ordinary shares on\n1986 business, despite the provision.\n    One West German newspaper today quoted foreign currency\ndealers in Frankfurt as speculating that the total losses from\nthe currency affair could be as high as 1.5 billion marks, but\nthe VW spokesman described 480 mln marks as an \"upper limit.\"\n    VW said in a statement following today\'s supervisory board\nmeeting that it had discussed the foreign currency scandal in\ndetail, and was setting up a new probe into its foreign\ncurrency activities to be carried out by an unnamed auditing\ncompany.\n    VW has said computer programs were erased and documents\nwere faked in the alleged fraud in which it believes\ntransactions intended to protect it against possible foreign\ncurrency losses were not completed.\n    VW\'s former foreign currency chief Burkhard Junger was\narrested on Monday on suspicion of embezzlement and of having\nevaded justice.\n    Earlier VW had said that its 1986 results would match 1985\nprofits. VW\'s group net profit in 1985 was 596 mln marks and\nparent company net was 477 mln marks. It also said it recommend\nan unchanged dividend to the supervisory board. The company has\nalso set a dividend of 11 marks for new preference shares,\nwhich were issued last year. Analysts have described the held\ndividend as a move to reassure worried shareholders.\n    VW increased nominal capital by 300 marks last year to 1.5\nbillion marks, with the result that its total dividend payment\non 1986 will be 306 mln marks compared with 240 mln on 1985,\nsince the new capital was in preference shares.\n    The share analysts say VW will have to dig into reserves in\norder to maintain the disclosed 1986 profit at 1985 levels. At\nthe end of 1985, VW had parent company reserves of slightly\nless than three billion marks.\n REUTER\n&#3;',0
'YUGOSLAVIA TO TENDER FOR 100,000 TONNES WHEAT Yugoslavia will tender April 14 for\n100,000 tonnes of wheat, the U.S. Agriculture Department\'s\nCounselor in Belgrade said in a field report.\n    The report, dated April 7, said the wheat must be from 1986\nand 1987 harvest, and imports of soft wheat from Europe and\nfrom other suppliers will not be considered.\n    It said the imports will be used to rebuild the federal\nreserves and as a result will not be subject to import\nsurcharges.\n Reuter\n&#3;',0
'FEDERATED DEPARTMENT STORES MARCH SALES UP 4.9 PCT\n ',0
'PRICES GENERALLY LOWER AT NAIROBI COFFEE AUCTION Prices were lower at this week\'s coffee\nauction for all grades and qualities except better quality AB\ngrades, which held steady, the Coffee Board of Kenya said.\n    The board said it offered 35,000 bags and sold 32,876.\n    So far this coffee year, Kenya has sold 918,707 bags to all\nmarkets, of which 326,182 are for the 1986/7 pool, with an\noverall average price of 41,500 shillings a tonne, it added.\n    The board will offer 35,000 bags at its next auction on\nApril 14.\n          BAGS                PRICE PER 50 KG\n      OFFERED SOLD        AVERAGE\n PB      430   430   2304.78 (2267.21)\n AA     7289  6834   2292.92 (2358.96)\n AB    12664 11895   2289.99 (2291.13)\n C      3198  2867   2073.15 (2107.64)\n T       876   876   1508.79 (1510.67)\n TT     1375  1375   2053.25 (2095.64)\n E       159   159   2250.19 (2252.18)\n MISC   9009  8440   1409.50 (1398.60)\n TOTAL 35000 32876     AVERAGE FOR SALE      2014.93 (1994.94)\n Reuter\n&#3;',0
'ALEX. BROWN &lt;ABSB> SETS SPLIT, TO OFFER SHARES Alex. Brown Inc said it has declared a\nthree-for-two stock split, payable May 29, record May 22.\n    The company also said it has filed to offer 912,000 common\nshares, including 162,000 to be sold by a shareholder, with\ncompany proceeds to be used for working capital and general\ncorporate purposes.  Its Alex. Brown and Sons Inc subsidiary is\nlead underwriter.\n    The offering is expected to be made before the record date\nof the split, the company said.\n Reuter\n&#3;',0
'HIGHLAND SUPERSTORES INC &lt;HIGH> 4TH QTR NET Period ended Jan 31\n    Shr 38 cts vs 61 cts\n    Net 7,012,000 vs 11,193,000\n    Revs 223.0 mln vs 200.3 mln\n    Year\n    Shr 1.11 dlrs vs 1.36 dlrs\n    Net 20,214,000 vs 23,602,000\n    Revs 656.5 mln vs 520.5 mln\n    Avg shrs 18,257,631 vs 17,376,480\n Reuter\n&#3;',0
'LVI GROUP &lt;LVI> TO MAKE ACQUISITION LVI Group Inc said it has agreed in\nprinciple to purchase all outstanding shares of &lt;Spectrum\nHolding Corp> for a proposed 13 mln dlrs in cash.\n    LVI said an additional 10 mln dlrs in common stock and\nseven mln dlrs in notes will become payable if Spectrum has\ncertain minimum future earnings.\n    LVI, an interior construction firm, said the acquisition is\nsubject to execution of a definitive agreement and completion\nof due diligence.\n    LVI and Spectrum, an asbestos abatement concern, expect to\nclose the deal in June, LVI said.\n Reuter\n&#3;',0
'TEXAS AMERICAN &lt;TAE> OMITS PREFERRED PAYOUT Texas American Energy Corp said\nits board has decided to again omit the quarterly dividend on\nits 2.575 dlr cumulative convertible exchangeable preferred\nstock.\n    The dividend would have been payable May One.  The company\nlast paid 64.3 cts a share on the issue in August 1986.\n Reuter\n&#3;',0
'VORNADO INC &lt;VNO> 4TH QTR JAN 31 NET Shr 1.64 dlrs vs 1.56 dlrs\n    Net 4,583,000 vs 5,313,000\n    Revs 20.1 mln vs 19 mln\n    Avg shrs 2.8 mln vs 3.4 mln\n    Year\n    Shr 5.06 dlrs vs 5.92 dlrs\n    Net 16 mln vs 20.3 mln\n    Revs 74.6 mln vs 68 mln\n    Avg shrs 3.2 mln vs 3.4 mln\n Reuter\n&#3;',0
'BRENDA MINES SELLING KERR ADDISON SHARES &lt;Brenda Mines Ltd> said it sold\n2,830,390 &lt;Kerr Addison Mines Ltd> shares to a group of\nunderwriters led by Wood Gundy Inc and Brown, Baldwin Nisker\nLtd for redistribution.\n    Financial terms were undisclosed.\n Reuter\n&#3;',0
'PHOENIX FINANCIAL &lt;PHFC> BUYS DATA ACCESS STAKE Data Access Systems Inc said\nchairman David Cohen has sold 1,800,000 common shares to\nPhoenix Financial corp for undisclosed terms and resigned as\nchairman and chief executive officer.\n    The company said Phoenix Financial now has a 27 pct\ninterest in Data Access and effective control.\n    Data Access said Phoenix chairman Martin S. Ackerman has\nbeen named chairman of Data Access as well and two other\nPhoenix representatives have been named to the Data Access\nboard.  It said four directors other than Cohen have resigned\nfrom the board.\n Reuter\n&#3;',0
'HEALTH AND REHABILITATION &lt;HRP> INITIAL PAYOUT Health and Rehabilitation\nProperties Trust said it declared an intitial dividend of 55\ncts per share for the period ending March 31, 1987\n    The dividend will be payed May 20 to shareholders of record\non April 20, the company said.\n    The company said it organized in late 1986 and closed its\nintitial public offering of shares Dec 23, 1986.\n    The initital dividend includes five cts attributable to the\nperiod between Dec 23 and 31, 1986, and 50 cts attributable to\nthe first qtr of 1987, ending March 31, 1987.\n Reuter\n&#3;',0
'T. ROWE PRICE &lt;TROW> SEES HIGHER FIRST QUARTER T. Rowe Price Associates said its\nfirst quarter earnings rose about 50 pct from the year-ago\n2,634,000 dlrs and revenues about 30 pct from the year-ago 24.2\nmln dlrs.\n    It said it expects \"very good\" earnings and revenue growth\nthis year.  In 1986 it earned 14.8 mln dlrs on revenues of\n111.1 mln dlrs.\n Reuter\n&#3;',0
'GENERAL PARTNERS CUTS STAKE IN GENCORP &lt;GY> General Partners told the Securities\nand Exchange Commission it has reduced its stake in GenCorp Inc\nto 8.6 pct, from 9.8 pct, by selling 250,000 shares at a price\nequal to 118.5 dlrs per share.\n    General Partners, which includes GC Holdings Inc and\nGeneral Acquisitions Inc, said yesterday it was dropping its\n100-dlr-a-share hostile takeover bid for GenCorp because of\nGenCorp\'s move to buy back its shares for up to 130 dlrs each.\n Reuter\n&#3;',0
'HERITAGE FINANCIAL SERVICES &lt;HERS> 1ST QTR NET Shr 45 cts vs 43 cts\n    Net 1,503,000 vs 938,000\n    Avg shrs 3,358,664 vs 2,158,664\n    NOTE: Company had its initial public offering of 1,200,000\nshares in October, 1986\n Reuter\n&#3;',0
'NATIONAL COMPUTER &lt;NLCS> SEES EARNINGS GROWTH National Computer Systems Inc\nexpects fiscal year earnings to improve by about 20 pct, the\ncompany told analysts, although it said the April 30 first\nquarter should show \"down earnings and virtually flat\nrevenues.\"\n    Chairman Charles Oswald said National Computer has taken\nsteps to improve margins. He said revenues are expected to\nincrease modestly because of the company\'s decision to downsize\nits leasing business, nonrecurring revenueslast year from a\none-time Texas teacher assessment project and the impact of the\ndiscontinuance of products last year.\n    Oswald said National Computer\'s first quarter results will\nbe down as a result of a major financial systems sales last\nyear, a higher effective tax rate and the increased number of\nshares outstanding.\n    The company said the next three consecutive quarters should\ndemonstrate \"excellent earnings growth.\"\n Reuter\n&#3;',0
'U.K. CHANCELLOR LAWSON SAYS THERE MAY BE NEED TO CUT\nINTEREST RATES IN SOME COUNTRIES\n ',0
'REXHAM &lt;RXH> REPURCHASES STAKE FROM NORTEK &lt;NTK> Rexham Corp said it has\nrepurchased 381,050 of its shares or 9.1 pct from Nortek Inc\nfor 42 dlrs each, and Nortek has withdrawn its proposal to\nacquire Rexham for 43 dlrs per share.\n    Rexham said Nortek has also agreed not to buy Rexham shares\nor take other actions under a 10-year standstill agreement. \nThe Rexham board had rejected the Nortek bid as inadequate.\n    The company also said its board has authorized the\nrepurchase in the open market or privately from time to time of\nup to an additional five pct of its own shares and the\nestablishment of an Employee Stock Ownership Plan.  The plan is\nexpected to purchase from Rexham a new convertible preferred\nstock with 11.5 pct of Rexham\'s voting power with proceeds of a\npension plan overfunding and borrowings.\n Reuter\n&#3;',0
'EXXON &lt;XON> CUTS HEATING OIL PRICE, TRADERS SAID Oil traders in the New York area said\nExxon Corp\'s Exxon U.S.A. unit reduced the price it charges\ncontract barge customers for heating oil in New York harbor\n0.50 cent a gallon, effective today.\n    They said the reduction brings Exxon\'s contract barge price\nto 49.75. The price decrease follows sharp declines in heating\noil prices in the spot and futures markets, traders said.\n Reuter\n&#3;',0
'FHLBB CHANGES SHORT-TERM DISCOUNT NOTE RATES The Federal Home Loan Bank Board\nadjusted the rates on its short-term discount notes as follows:\n    MATURITY   NEW RATE  OLD RATE  MATURITY\n  30-174 days  5.00 pct  5.00 pct   30-174 days\n 175-190 days  5.88 pct  5.85 pct  175-190 days\n 191-270 days  5.00 pct  5.00 pct  191-270 days\n 271-288 days  5.92 pct  5.92 pct  271-288 days\n 289-360 days  5.00 pct  5.00 pct  289-360 days\n                       \n Reuter\n&#3;',0
'&lt;STRATHFIELD OIL AND GAS LTD> YEAR NET Shr 46 cts vs 48 cts\n    Net 1,196,331 vs 1,341,314\n    Revs 5,153,109 vs 7,680,350\n Reuter\n&#3;',0
'FED MAY ADD RESERVES TO BANKING SYSTEM The Federal Reserve may intervene in\nthe government securities market to supply temporary reserves\nindirectly via customer repurchase agreements, economists said.\n    They said that while the Fed faces no great urgency to add\nreserves at the start of the two-week maintenance period today\nit would probably do so in order to offset a relatively high\nfederal funds rate.\n    Fed funds opened at 6-3/16 pct and remained there in early\ntrading. Yesterday, they averaged 6.45 pct, after rising as\nhigh as seven pct at the close.\n Reuter\n&#3;',0
'DIAMOND CRYSTAL &lt;DSLT> MIGHT SELL SALT UNIT Diamond Crystal Salt Co said it\nmight sell its salt division.\n    The company said it retained First Boston Corp to assist it\nwith the possible sale of the division, \"assuming a fair price\nand reasonable terms can be obtained.\"\n    Diamond Crystal said sale of the unit was in the best\nlong-term interests of its shareholders.\n    The company also said it incorporated its Packet Products\nDivision as of April one. The unit will be an indirect wholly\nowned subsidiary called Diamond Crystal Specialty Foods Inc.\nCurrent management of the division will remain.\n Reuter\n&#3;',0
'LAWSON SAYS SOME COUNTRIES COULD CUT RATES Nigel Lawson, Britain\'s Chancellor of\nthe Exchequer, said some countries may need to cut interest\nrates with the aim of maintaining exchange rate stability.\n    Speaking to journalists one day after the Group of Seven\ncountries reaffirmed goals set in Paris six weeks ago, he said\ncentral banks would continue to intervene \"as and when\nnecessary.\"\n    He said the G-7 countries were concerned that Japan do more\nto stimulate domestic demand and welcomed measures outlined by\nJapanese Finance Minister Kiichi Miyazawa yesterday.\n    Lawson said he was still worried about  the risk of a\nsimultaneous recession in the United States, Japan and West\nGermany, though less so than when he gave his March 17 budget\nspeech to the British Parliament.\n    \"If anything I\'m a little bit less concerned, but there is\nstill a risk,\" he said.\n    Asked if the United States should consider increasing\ninterest rates to support the dollar, he said, \"If there is a\nneed for changes in relative interest rates, it doesn\'t need to\nbe a rise in interest rates in the United States.\"\n    Lawson said there was some concern expressed in yesterday\'s\nmeetings at the slow progress the United States had made in\nreducing its budget deficit.\n    \"We believe there will be some worthwhile progress in\nreducing the deficit this year. The important thing is that it\ncontinue year after year,\" Lawson said.\n    The February 22 Louvre accord called for efforts to\nstabilize currencies at then-current exchange rates. In the six\nweeks that followed the Japanese yen continued to rise against\nthe dollar despite massive central bank intervention.\n    Asked whether this intervention was a sign of weakness in\nthe Louvre accord, he said, \"I don\'t think so. If there had been\nno intervention you would have called that a sign of weakness.\"\n    Although intervention could be a cause of inflation, Lawson\nsaid, \"the world does not appear to be in an inflationary mode\n... but one has to be vigilant.\"\n    He said yesterday\'s G-7 statement, which affirmed that\n\"current levels\" of exchange rates were appropriate, had been\n\"carefully worded.\" \"We know what we mean, and we all mean the\nsame thing,\" he said.\n    Lawson said financial markets seem to believe that Japanese\nmeasures outlined in the Louvre accord were the source of\nweakness for that agreement.\n    Therefore, the G-7 countries welcomed Miyazawa\'s\npresentation of plans for a supplemental budget to stimulate\ndomestic demand.\n    They particularly welcomed the goal of an immediate\nincrease in public works spending, but Lawson said the package\nalso involved a second stage to increase expenditures during\nthe second half of this year.\n Reuter\n&#3;',0
'FRENCH FREE MARKET CEREAL EXPORT BIDS DETAILED French operators have requested licences\nto export 320,000 tonnes of free market barley, 225,000 tonnes\nof maize, 25,000 tonnes of free market bread-making wheat and\n20,000 tonnes of feed wheat at today\'s EC tender, trade sources\nsaid.\n    For the barley, rebates of between 138 and 141.25 European\ncurrency units (Ecus) per tonne were sought, for maize they\nwere between 129.65 and 139 Ecus, for bread-making wheat around\n145 Ecus and for feed wheat around 142.45 Ecus.\n    Barley rebates of up to 138.50 Ecus were requested for a\ntotal of 40,000 tonnes and at 139 Ecus for 85,000 tonnes.\n    Rebates of up to 130 Ecus per tonne were requested for a\ntotal of 55,000 tonnes maize and up to 131 Ecus for 105,000\ntonnes, the sources said.\n Reuter\n&#3;',1
'U.K. POTATO FUTURES TRADING NOT TO BE SUSPENDED Trading on the London potato futures\nmarket will not be suspended, Richard Harris, Chairman of the\nLondon Potato Futures Association (LPFA), said in a statement\nto floor members.\n    It was in response to strong representations by the Potato\nMarketing Board (PMB) complaining of a gross distortion of\nprice which they say will result in large deliveries into the\nphysical market when the April futures position expires.\n    The PMB had sought an immediate suspension in futures\ntrading and asked the LPFA to take action to restore the\nrelationship between futures and physicals.\n    Farmers and merchants have alleged a squeeze and cornering\nof the market but Harris pointed out that recent investigations\nby the Association of Futures Brokers and Dealers (AFBD), the\nInternational Commodities Clearing House (ICCH) and other\nparties, found no evidence to substantiate this.\n    The main complaint from some sections of the physical\nmarket is what they say is an unrealistic futures premium over\nthe PMB\'s average ex-farm price. April futures traded this\nmorning between 168 and 170 stg per tonne compared with PMB\'s\naverage price of 104 stg.\n    Bill Englebright, joint secretary of the LPFA said there is\na two-tier market for physical potatoes. He said quality\npotatoes are in short supply and prepackers have been paying\nbetween 145 and 165 stg per tonne for best samples. But lesser\nquality grades have traded below 100 stg.\n    Some merchants fear that a large tonnage will be delivered\nagainst the April futures contract between now and the end of\nthe month, and possibly disrupt the physical market.\n    Harris said the LPFA rule book allows the management\ncommittee to take steps as necessary to correct any malpractice\nand he assured the committee is monitoring the situation.\n Reuter\n&#3;',0
'GROUP OF 10 WELCOMES LATEST G-7 AGREEMENT The Group of 10 developed nations\nissued a communique welcoming the reaffirmation of the Paris\naccord on currency stability by the Group of Seven leading\nindustrial democracies yesterday.\n    In the communique issued this morning, the G-10 said\n\"prospects of member countries\' economies would be improved by\nstability in the exchange rates of their currencies.\"\n    The G-10 includes the group of seven - the United States,\nCanada, Britain, Japan, Italy, West Germany and France - plus\nBelgium, the Netherlands, Sweden and also Switzerland.\n    Sources who attended the G-10 conference this morning said\nthe reference to the latest G-7 agreement was especially added\nto the brief communique because currency stability will benefit\nall the G-10 members.\n    The G-10 met briefly before the International Monetary Fund\nInterim Committee meeting scheduled for today.\n.\n Reuter\n&#3;',0
'CANAM MANAC WINS 8.5 MLN DLR CONTRACT (The Canam Manac Group Inc) said its\nCanam Steel Works unit received a contract valued at 8.5 mln\ndlrs to supply steel trusses to (Canron Inc) for a new car\nplant in Ingersoll, Ontario.\n    Canam Manac said it will produce the trusses at its Quebec\nand Ontario plants and delivery will be completed by August.\n Reuter\n&#3;',0
'SPOT TIN EASIER ON EUROPEAN FREE MARKET Spot tin on the European free market was\nindicated in the easier range 4,200 to 4,230 stg per tonne, for\nhigh grade metal in warehouse Rotterdam, down 20 stg from\nyesterday\'s afternoon kerb close.\n    Stability in sterling versus the dollar continued to apply\npressure to a market which is coming close to testing a\npsychological chart support base at 4,200 stg, traders said.\n    Dealers said major consumers still need to cover their May\nand June requirements but are holding out for even lower\noffers. Reported high grade tin business in London was confined\nto end April metal at 4,225 stg.\n    Small-scale spot business was reported by West German\noperators at 12.60 and 12.63 marks per kilo although the market\nwas still being undercut by Chinese material, which traded at\none stage down to 12.54 marks per kilo, traders said.\n REUTER\n&#3;',0
'DOLLAR ENDS LOWER IN LACKLUSTRE FRANKFURT The dollar drifted down to end one\npfennig lower after a lacklustre session, held in limits by the\nlack of concrete news from the Group of Seven meeting and\ncomments on the edge of the Washington IMF/World Bank meeting.\n    Dealers said the communique early in the European morning\nfrom the G-7 meeting contained no significant new factors and\nalthough the dollar dipped it generally resisted further\nattempts to push it lower through the day.\n    The U.S. Currency ended at 1.8270/80 marks, below\nyesterday\'s last 1.8365/75.\n    Koch said the assessment of the dollar\'s direction was\nbased on a global view, with operators paying most attention to\ncomments by finance officials to see how closely they stated\nadherence to international agreements such as those set at the\nPlaza Hotel in 1985 and in Paris on February 22.\n    Koch described the wording of the communique from the G-7\nas \"soft as wax.\"\n    Bundebank vice-president Helmut Schlesinger told Reuters in\na telephone interview that the German central bank sees no\ncurrent reason to change monetary course at present.\n    Schlesinger was responding to questions following remarks\nyesterday by Bundesbank board member Claus Koehler and West\nBerlin state central bank president Dieter Hiss, which dealers\nsaid revived some speculation that German interest rate cuts\nmay be under consideration.\n    German call money was slightly softer today, at around 3.70\npct after 3.80 yesterday.\n    Some dealers said rates on new liquidity injections added\nvia Bundesbank securities repurchase agreements may be cut next\nweek. Hopes of a cut were dashed on Tuesday with an allocation\nat an unchanged 3.80 pct.\n    But speaking of the pact tender rate next week, Schlesinger\nsaid, \"since the central bank council gives its opinion on this\ntheme only every 14 days, this is hardly probable.\"\n    Euromark rates scarcely responded to the central bankers\ncomments, with six months funds ending unaltered at around\n3-7/8 pct. Eurodollars for the same maturity rose a fractional\n1/16 pct from yesterday to around 6-11/16 pct.\n    Sterling dipped to end at 2.952/956 marks after 2.960/965\nlast night. The Swiss franc firmed slightly to 120.30/45 marks\nper 100 from 120.25/40, with the yen soaring however to\n1.2570/90 marks per 100 from 1.2515/35 yesterday.\n    EMS currencies saw the French franc end unchanged from last\nnight at 30.03/06 marks per 100, with the Belgian franc easing\nhowever to 4.829/831 marks per 100 from 4.831/833.\n REUTER\n&#3;',0
'CONSOLIDATED PAPERS INC &lt;CPER> 1ST QTR NET Shr 1.01 dlrs vs 1.08 dlrs\n    Net 21,983,000 vs 23,434,000\n    Sales 174.9 mln vs 161.7 mln\n Reuter\n&#3;',0
'HUMANA &lt;HUM> TO SELL MEDICAL OFFICES Humana Inc said it has agreed in\nprinciple to sell 68 MedFirst primary medical care facilities\nto &lt;Primedical Corp> for undisclosed terms, with transfers\ntaking place over the next four months.\n    It said it retains 37 MedFirst offices, mostly in the\nChicago area.\n    The transaction is not expected to have any impact on\nearnings, Humana said.\n Reuter\n&#3;',0
'MET-COIL SYSTEMS CORP&lt;METS> 3RD QTR FEB 28 NET Shr seven cts vs nine cts\n    Net 168,000 vs 206,000\n    Sales 15.3 mln vs 10.9 mln\n    Nine mths\n    Shr 10 cts vs 38 cts\n    Net 228,000 vs 649,000\n    Sales 35.8 mln vs 32.5 mln\n    Qtly div three cts vs three cts prior\n    Pay April 30\n    Record April 20\n Reuter\n&#3;',0
'FORD RAISES QTLY PAYOUT 10 CTS/SHR TO 75 CTS\n ',0
'LAWSON SEES NO CHANGE IN U.K. MONETARY POLICY British Chancellor of the Exchequer\nNigel Lawson said he saw no immediate implications for British\nmonetary policy arising from the Group of Seven meeting\nyesterday.\n    \"Exchange rate stability is in the U.K.\'s interest,\" he told\njournalists.\n    Asked what it meant for U.K. monetary policy, he said, \"No,\nI do not think there are any immediate implications.\"\n Reuter\n&#3;',0
'FORD MOTOR CO &lt;F> RAISES QTLY PAYOUT Qtly div 75 cts vs 65 cts prior\n    Pay June one\n    Record May one\n Reuter\n&#3;',0
'TALKING POINT/STEEL COMPANIES Steel stocks, which have had a healthy\nrunup recently, still present some short term investment\nopportunities, according to some steel analysts.\n    But others say the upturn, based on strong orders and firm\nprices this spring, has been strictly seasonal and will end\nsoon. They recommend taking profits.\n    \"It\'s that time of year. This is strictly seasonal,\" said\nCharles Bradford of Merrill Lynch and Co. \"Orders will be\nstrong for about two months, and there are signs that some\n(order rates) are starting to dive already.\"\n    But Dean Witter Reynolds Inc analyst Clarence Morrison sees\nsome short-term potential in the group, which includes USX Corp\n&lt;X>, Bethlehem Steel Corp &lt;BS>, Armco Inc &lt;AS> and Inland Steel\nIndustries Inc &lt;IAD>.\n    \"There is still some attractiveness to steels over the\nshort- to intermediate-term based on improved order rates and\nrising prices,\" Morrison said. He only recommends one stock,\nhowever, Inland, which is modernizing steelmaking operations to\nmake them more efficient.\n    Despite his bearishness, Merrill\'s Bradford continues to\nrecommend Armco, which he sees as a major turnaround.\n    Armco\'s steelmaking operations are profitable, the balance\nsheet has been improved, and its oilfield equipment business\nhas been slimmed and put in a joint venture with USX, Bradford\nnoted. \"It\'s not a high-quality investment situation yet but\nthey\'ve come a long way,\" he said.\n    \"We think the stock will do moderately better than the\nmarket,\" he said. Armco shares, trading off 1/4 at 10 today,\ncould go to 12, and possibly as high as 15, he said.\n    Bradford sees Armco earning 50 to 75 cts a share in 1987,\nbefore special gains from recouped investment tax credits,\nagainst losses last year.\n    Armco\'s 1988 earnings could be significantly higher, he\nsaid.\n    Bradford is recommending sale of USX shares. \"We had a buy\non it below 20 but when it gets to 28, let somebody else have\nit,\" he said.\n    The steel and energy concern will earn about one dlr a\nshare in 1987, about half of that coming from asset sales, and\nfrom two dlrs to 2.50 dlrs in 1988, Bradford said. \"But a lot\ndepends on oil prices,\" he added. About 60 pct of USX\'s sales\ncome from oil and natural gas.\n    Other analysts, including Michelle Galanter Applebaum of\nSalomon Brothers Inc, recommend USX. \"The company\'s done a lot\n(of restructuring), more than the market\'s given them credit\nfor,\" she said.\n    She sees the stock going to the mid 30s or higher. USX was\ntrading up 1/8 at 28-1/2. She predicts USX will earn 18 cts a\nshare this year and 2.73 dlrs next year against large losses in\n1986.\n    Applebaum, who is also positive on Armco and Inland, has\nbeen recommending the stocks since last November.\n    Peter Marcus of Painewebber Inc is neutral on the group\nalthough he said the earnings outlook is improved through the\nthird quarter.\n    But he sees potential trouble beyond then. \"I think (steel)\nprices on a bookings basis will start to drop by the summer,\"\nhe said.\n    Applebaum of Salomon Brothers also sees some seasonal\ndropoff later in the year. \"But there are more positives than\nnegatives,\" she said, citing reduced capacity in the domestic\nindustry, better prices, and a weaker dollar, which should\ncause steel imports to drop off slightly from last year.\n Reuter\n&#3;',0
'DEKALB CORP &lt;DKLBB> 2ND QTR FEB 28 NET Shr 20 cts vs 14 cts\n    Net 2.4 mln vs 1.7 mln\n    Revs 136.7 mln vs 174.4 mln\n    Six Mths\n    SDhr 72 cts vs 82 cts\n    Net 8.6 mln vs 9.9 mln\n    Revs 212.5 mln vs 268.8 mln\n Reuter\n&#3;',0
'ABBOTT &lt;ABT> SEES GAINS FROM WEAKER DOLLAR Abbott Laboratories Inc said\nits 1987 first quarter record results reflected continued\nproductivity improvement, higher volume, better product mix and\na weaker U.S. dollar.\n    Abbott reported 1987 first quarter earnings rose to a\nrecord 142 mln dlrs or 62 cts a share on record sales of one\nbillion dlrs.\n    Research and development expenses, most of which was\napplied to diagnostic and pharmaceutical products, increased by\n23 pct to 78 mln dlrs, it said.\n    Sales of pharmaceutical and nutritional products were 548\nmln dlrs in the first quarter, up 17.6 pct over a year ago,\nAbbott said. Hospital and laboratory product sales in the first\nquarter rose 14.1 pct to 456 mln dlrs, it said.\n    First quarter sales in domestic markets advanced 11.5 pct\nto 688 mln dlrs while international sales jumped 27.1 pct to\n316 mln dlrs, Abbott said.\n Reuter\n&#3;',0
'EASTERN DISTRIBUTIVE BEEF TRADE WEEKLY - USDA Demand good for moderate\nsupplies of most beef cuts, However, limited interest noted for\ntenderloins/flank steaks. Yield grade 2-3 beef cuts, fabricated\nitems, vacuum packed.\n                          LBS    CHOICE\n ROUND CUTS -steady/up 11.00                 \n 160 round, part bnls     50-85  few 137\n 161 round, bnls          42-80  few 147\n 161 diamond cut          49-85  few 149\n 167 knuckle               8-15  few 148\n 167a knuckle, peeled      8-15  few 163\n 168 top inside round     14-26  165-175\n 170 bottom gooseneck rnd 18-33  131-135\n More\n&#3;',0
'BRAZIL COTTON CROP LOWER -- USDA REPORT Brazil\'s 1986/87 cotton crop estimate\nhas been reduced to 710,000 from 735,000 tonnes (lint basis),\nthe U.S. Agriculture Department\'s officer in Sao Paulo said in\na field report.\n    The report, dated April 7, said the reduction is based on\nan expected smaller harvest in the center-south region.\n    The center-south crop is now estimated at 550,000 tonnes --\n25,000 tonnes below the previous estimate.\n    Hot, dry weather during part of January and excessive rains\nin some areas in February reduced yield prospects and may have\naffected quality, the report said.\n    Nearly 60 pct of the crop has been harvested in Parana and\nslightly less in Sao Paulo, it said. Cotton entering gins is of\nfairly good quality, according to trade sources, it said.\n Reuter\n&#3;',0
'TREASURY\'S BAKER SAYS TRADE, CURRENT ACCOUNT IMBALANCES \"SIMPLY NOT SUSTAINABLE\"\n ',0
'EC AUTHORISES EXPORT 55,000 TONNES MAIZE,  MAXIMUM REBATE 130 ECUS/TONNE - TRADE SOURCES.\n ',1
'EC AUTHORISES EXPORT 65,000 TONNES BARLEY,  MAXIMUM REBATE 138.75 ECUS - BRUSSELS TRADE\n ',0
'RJR NABISCO FIRST QUARTER NET TO INCLUDE 208 MLN DLR GAIN, 209 MLN DLR CHARGE\n ',0
'BRAZIL COCOA EXPORTERS UNLIKELY TO LIMIT SALES Brazilian cocoa exporters are not\nlikely to follow the example of Cocoa Producers Alliance, CPA,\nmembers, who may limit sales of the product in an effort to\nboost world prices, trade sources said.\n    They said a similar procedure was taken in the past in\nBrazil and that it did not work out according to plans.\n    \"The cocoa market is completely free. Unlike coffee, which\nis controlled through export registrations, cocoa exporters in\nBrazil operate at their own free will,\" a trade source said.\n    The traders were responding to questions whether they would\nfollow the example of CPA members meeting in Yaounde.\n    The sources said the Banco do Brasil\'s Foreign Trade\nDepartment, CACEX, never interferes in the cocoa market by\nrejecting sales that do not meet certain price or shipment\ncriteria.\n    \"The position of local producers is always to negotiate as\nthey please. If they buy for ten and sell for eleven and think\nit\'s a good deal, they are free to go ahead,\" one source added.\n Reuter\n&#3;',0
'HEALTH/REHABILITATION &lt;HRP> SETS FIRST PAYOUT Health and Rehabilitation\nProperties Trust said its board declared an initial dividend of\n55 cts, including 50 cts for the first quarter just ended and\nfive cts from its initial operating period that began December\n23.\n    The dividend is payable May 30, record April 20.\n Reuter\n&#3;',0
'U.S. TREASURY\'S BAKER SAYS RATE SHIFTS ORDERLY Treasury Secretary James Baker said\nthat changes in exchange rates have generally been orderly and\nhave improved the prospects for a reduction in external\nimbalances to more sustainable levels.\n    In remarks before the IMF\'s policy-making Interim\nCommittee, Baker reiterated a Group of Seven statement last\nnight that the substantial exchange rate changes since the\nPlaza agreement 18 months ago have \"now brought currencies\nwithin ranges broadly consistent with economic fundamentals.\"\n    Baker said, \"These exchange rate shifts have generally been\norderly, and have improved prospects for the reduction of\nexternal imbalances to more sustainable levels.\"\n    As they are today, the trade and current account imbalances\n\"simply are not sustainable,\" Baker told the ministers.\n    He said that the Reagan administration was resisting \"strong\ndomestic pressure\" for trade protection and was working closely\nwith the U.S. Congress in crafting a trade bill.\n    \"While we cannot yet be sure of the outcome, we are doing\nwhat we can to ensure that the bill is not protectionist,\" he\nsaid.\n    Baker also urged the International Monetary Fund\'s\nexecutive board to review possible modifications to the Fund\'s\ncompensatory financing facility before the annual meeting this\nfall.\n    \"We should pay particular attention to the lack of\ncontinuing conditionality associated with the use of the CFF\nand to whether shortfalls in export earnings are indeed\ntemporary,\" he said.\n Reuter\n&#3;',0
'TIME &lt;TL> TO SELL PART OF UNIT Time Inc said its Time-Life Video Inc\nsubsidiary has agreed in principle to sell its institutional\ntraining business to Time-Life Video president William V.\nAmbrose for undisclosed terms.\n    It said the business will operate as Ambrose Video\nPublishing.\n Reuter\n&#3;',0
'SPRINKEL SAYS TAX HIKE WOULD NOT REDUCE DEFICIT Council of Economic Advisers chairman\nBeryl Sprinkel said the Reagan Administration remains strongly\nopposed to a tax increase, including 18 billion dlrs of new\nrevenues in the budget plan by Congressional Democrats.\n    \"We believe that significant increases in taxes would not\nreduce deficits and could have adverse effects on growth,\"\nSprinkel told the House Rules Committee.\n    He said the Administration wanted to continue its policy of\ngradually reducing deficits through restraining government\nspending and promoting economic growth. Sprinkel said cutting\nthe budget deficit was the best way to lower the trade deficit.\n Reuter\n&#3;',0
'ROYAL BUSINESS GROUP INC &lt;ROY> 2ND QTR MARCH ONE Shr 49 cts vs five cts\n    Shr diluted 45 cts vs five cts\n    Net 651,000 vs 95,000\n    Revs not given\n    1st half\n    Shr 57 cts vs one ct\n    Shr diluted 53 cts vs one ct\n    Net 781,000 vs 56,000\n    Revs not given\n    NOTE: Current year net both periods includes gain 873,000\ndlrs from repurchase of securities.\n    Results exclude Business Forms Division, which is to be\nsold.\n Reuter\n&#3;',0
'&lt;MSE CABLE SYSTEMS INC> 4TH QTR NET Shr nil vs nil\n    Net 18,534 vcs 27,431\n    Revs 270,032 vs 188,326\n    Avg shrs 6,598,871 vs 6,090,576\n    Year\n    Shr nil vs nil\n    Net 47,299 vs 21,570\n    Revs 1,004,392 vs 677,909\n    Avg shrs 6,618,063 vs 5,931,324\n    NOTE: Share adjusted for one-for-11 reverse split.\n Reuter\n&#3;',0
'RULE INDUSTRIES INC &lt;RULE> 2ND QTR FEB 28 NET Shr 17 cts vs 10 cts\n    Net 408,000 vs 237,000\n    Revs 8,863,000 vs 6,738,000\n    1st half\n    Shr 27 cts vs 15 cts\n    Net 647,000 vs 356,000\n    Revs 17.2 mln vs 12.5 mln\n Reuter\n&#3;',0
'NEW JERSEY INVESTOR BUYS 5.2 PCT OF KINARK &lt;KIN> A New Jersey investor, Joseph\nFalkenstein, told the Securities and Exchange Commission he\nholds 5.2 pct of the shares of Kinark Corp.\n    He said he has no plans to change the company and that he\nbought the shares because he believed the stock was undervalued\nand would rise in the next six months.\n reuter\n&#3;',0
'NATIONAL DISTILLERS &lt;DR> SEES SECOND QTR GAIN National Distillers and Chemical Corp\nexpects to realize a second quarter after-tax gain of four dlrs\nper share from the 545 mln dlr sale of its spirits business to\nAmerican Brands Inc &lt;AMB>.\n    National Distillers\' stock rose 1-1/8 to 65-1/2, after an\nopening delay on the New York Stock exchange for an imbalance\nof orders.\n    \"I think the sales price was higher than most people\nexpected,\" said John Henry of E.F. Hutton Group.\n    A company spokeswoman said the four dlr per share gain will\nbe included in second quarter net, which compares with 31 cts\nper share last year, including the spirits and wine business\n    \"They netted over 700 mln dlrs for spirits and wine. That\nwill ease their interest cost burden,\" said Henry.\n    National Distillers sold its wine business last month to\nGrand Metropolitan PLC\'s Heublein Inc for 128 mln dlrs.\n    Henry said he had anticipated National Distillers would net\nonly 600 mln dlrs at the most from the sale of the two liquor\nbusinesses.\n    Henry said the company recovered from the sales the cost of\nbuying Enron Chemicals in the fourth quarter last year.\nNational Distillers paid 570 mln dlrs cash for Enron and\nassumed 34 mln dlrs in debt. National Distillers said at the\ntime it bought Enron it would sell the spirits and wine\nbusinesses, moving more into the chemical area.\n    For 1986, two thirds of income were from chemicals and\npropane. National Distillers earned, excluding the liquor\nbusinesses, 2.21 dlrs per share for 1986. Income from\ndiscontinued operations, including the liquor businesses, was\n67 cts per share.\n Reuter\n&#3;',0
'WEATHER HURTS ITALIAN ORANGES - USDA REPORT Unfavorable weather conditions during\nthe second week of March caused damage to oranges in the\nCalabria region in southern Italy, the U.S. Agriculture\nDepartment\'s officer in Rome said in a field report.\n    The report, dated April 3, said the region accounts for\nabout 22,000 hectares of the Italian orange crop or about 26\npct of total production.\n    However, orange production in the region for marketing year\n1986/87 is forecast at 565,000 tonnes or 25 pct of the total\nItalian orange crop, it said.\n    The report said trade contacts agree that about 15 pct of\nthe orange output in Calabria was damaged by frost.\n Reuter\n&#3;',0
'EC GRANTS FREE MARKET BARLEY, MAIZE EXPORTS The European Commission authorised the\nexport of 65,000 tonnes of free market barley at today\'s tender\nat a maximum rebate of 138.75 European currency units and\n55,000 tonnes of French maize at 130 Ecus, grain traders here\nsaid.\n    It rejected bids for breadmaking and feed wheat, they said.\n Reuter\n&#3;',1
'FED BUYING DOLLARS FOR YEN IN OPEN MARKET, NEW YORK DEALERS SAY\n ',0
'WASTE RECOVERY INC &lt;WRII> 4TH QTR NET Shr loss eight cts vs loss nine cts\n    Net loss 311,255 vs loss 157,941\n    Revs 546,069 vs 284,636\n    Avg shrs 3,790,235 vs 1,819,680\n    Year\n    Shr loss 27 cts vs loss 24 cts\n    Net loss 858,624 vs loss 399,385\n    Revs 1,491,518 vs 1,407,441\n    Avg shrs 3,175,157 vs 1,692,700\n Reuter\n&#3;',0
'BRANCH CORP &lt;BNCH> 1ST QTR NET Shr primary 99ct vs 82 cxts\n    Shr diluted 93 cts vs 78 cts\n    Net 7,784,000 vs 6,357,000\n    Assets 3.25 billion vs 2.74 billion\n    Deposits 2.58 billion vs 2.24 billion\n    Loans 2.20 billion vs 1.81 billion\n Reuter\n&#3;',0
'KURZ-KASCH UPS STAKE IN COMPONENT TECH &lt;CTEC> Kurz-Kasch Inc, a Dayton thermoset\nmolding maker, told the Securities and Exchange Commission it\nhad increased its holdings in Component Technology Corp by two\npct, to 9.3 pct.\n    It said it bought the 39,000 shares of stock at 5.30-6.875\ndlrs a share for investment purposes.\n Reuter\n&#3;',0
'BRAZIL SOYBEAN YIELDS SEEN AVERAGE - USDA REPORT Based on field travel in the\nBrazilian state of Parana, soybean yields should be about\naverage or 2.0 to 2.2 tonnes per hectare, the U.S. Agriculture\nDepartment\'s officer in Sao Paulo said in a field report.\n    The report, dated March 24, noted Parana accounts for about\n20 to 24 pct of Brazil\'s total soybean crop.\n    It said generally favorable weather from early December\nthrough February helped compensate for earlier dryness.\n    However, hot, dry weather during the past 20 to 30 days\nfollowed by an unseasonably brief cold spell during the second\nweek of march has raised concern about late planted soybeans\nwhich are still immature, but the impact may be localized, the\nreport said.\n    The corn crop is expected to be a record and will create\nserious storage problems, the report said.\n    Due to favorable support prices, corn area increased by\nmore than 25 pct at the expense of soybeans, and yields are\nexpected to be above average, it said.\n    Due to late plantings only about 20 pct of the corn crop\ncrop has been harvested.\n    During the field trip long truck lines were noted at grain\nelevators where preference is given to soybeans over corn, the\nreport said.\n    New crop wheat plantings are expected to decline  -- Parana\naccounts for about 60 pct of total production. Major reasons\nfor the decline are expected reduced government support price\nand good summer crop harvests.\n Reuter\n&#3;',1
'ZAYRE CORP &lt;ZY> RAISES QUARTERLY Qtly div 10 cts vs eight cts prior\n    Pay June Four\n    Record May 14\n Reuter\n&#3;',0
'FED SEEN BUYING DOLLARS FOR YEN IN OPEN MARKET The Federal Reserve was detected buying\ndollars for yen in the open market as the dollar fell to a\n40-year low of 144.60 yen in nervous late morning trading,\ncurrency dealers said.\n     They said the size of the intervention was relatively\nmodest so far but it was a clear indication that the U.S.\nremained committed to the late February Paris currency\nstabilization accord, which was reaffirmed in Washington last\nnight.\n    A Fed spokeswoman had no comment on the dealer reports.\n    The dollar hovered around 144.70 just before midday.\n Reuter\n&#3;',0
'RJR NABISCO &lt;RJR> HAS OFFSETTING GAINS, CHARGES RJR Nabisco Inc said its\n1987 first quarter results will include an after-tax gain of\n208 mln dlrs from the sale of Heublein Inc and offsetting\ncharges.\n    The company said its operations are performing well and in\nline with expectations.\n    RJR Nabisco said the charges reflect reserves it\nestablished to cover certain expenses.\n    RJR Nabisco said the expenses covered, on after-tax basis,\ninclude --\n    -- 50 mln dlrs for the write-down of redundant equipment\nand facilities resulting from modernization of its U.S. tobacco\noperations,\n    -- 79 mln dlrs for continuing restruction of its food\nsubsidiaries, and\n    -- 80 mln dlrs in connection with the early retirement of\nhigh coupon debt.\n Reuter\n&#3;',0
'BAYBANKS INC &lt;BBNK> 1ST QTR NET Oper shr 1.08 dlrs vs 96 cts\n    Oper shr diluted 1.02 dlrs vs 89 cts\n    Oper net 16.1 mln vs 12.8 mln\n    Avg shrs 14.9 mln vs 13.4 mln\n    Avg shrs 16.1 mln vs 14.8 mln\n    NOTE: 1987 net excludes gain 4,820,000 dlrs from cumulative\neffect of change in calculating depreciation expense.\n Reuter\n&#3;',0
'FRANCE\'S BALLADUR SAYS TARGET ZONE NOTION NEARER French Finance Minister Edouard\nBalladur said that the financial community is closer to\narriving at a system of target zones for currencies despite the\nfact that little is being said about them.\n    Speaking with reporters at the semiannual meetings of the\nInternational Monetary Fund, Balladur said, \"We are not very far\nfrom the notion of target zones, even if we don\'t say so.\"\n    He told reporters that \"our ideas are progressing,\" adding\nthat the finance ministers have been talking about more\ncooperation on economic policies and on levels around which\ncurrencies should stabilize.\n Reuter\n&#3;',0
'STUDENT LOAN MARKETING ASSOCIATION &lt;SLM> 1ST QTR Shr 95 cts vs 71 cts\n    Net 42.4 mln vs 34.5 mln\n    Assets 18.61 billion vs 15.66 billion\n Reuter\n&#3;',0
'FIRE AT TATE/LYLE LONDON JETTY HALTS UNLOADING No raw sugar is being unloaded at Tate\nand Lyles refinery at Silvertown on the River Thames following\na fire yesterday afternoon, Tate and Lyle Plc said.\n    The fire destroyed a large sector of the main conveyor from\nthe raw sugar jetty to the weighhouse.\n    The company said it is not yet known how long the jetty\nwill be out of use but it hoped that by tomorrow unloading of\nthe bulk carrier Mykon Wave will be able to continue using\ntemporary arrangements, Tate and Lyle said.\n    The Mykon Wave arrived in the port recently with about\n18,300 tonnes of bulk sugar from Maputo in Swaziland. About\n1,600 tonnes remain to be discharged.\n    Five other ships loaded with raw sugar are awaiting at\nSilvertown to be discharged, Tate and Lyle added.\n Reuter\n&#3;',0
'JP INDUSTRIES &lt;JPI> CONFIRMS PROPOSAL JP Industries Inc confirmed the\nannouncement by Clevite Industries Inc &lt;CLEV> that JP\nIndustries has submitted a proposal to Clevite for the\nacquisition of the company at 13.50 dlrs per share in cash.\n    John Psarouthakis, chairman and president of JP Industries,\nsaid that the company hopes to promptly negotiate an agreement\nwith the special committee of Clevite\'s board.\n    In February, JP Industries said it purchased Clevite\'s\nengine parts division.\n    JP Industries said it is not aware of any other reason for\nactivity in its stock.\n Reuter\n&#3;',0
'MEDITRUST &lt;MTRUS> RAISES QUARTERLY Qtly div 43 cts vs 38 cts prior\n    Pay May 15\n    Record April 30  \n Reuter\n&#3;',0
'MONSANTO &lt;MTC> UNIT SEES OPERATING LOSS IN 1987 Monsanto Corp\'s G.D. Searle and Co unit\nsaid it will report an operating loss for 1987, mainly due to\nexpenses for research and development.\n    Searle chairman Sheldon Gilgore said Searle\'s operating\nloss in 1987 will be less than the 87 mln dlr operating loss in\n1986.\n    He said Searle\'s first quarter sales will be up 21.8 pct to\n179 mln dlrs from 147 mln dlrs in the year ago quarter. In 1986\nSearle\'s sales were 665 mln dlrs.\n    Gilgore said the company intends to have sales of three\nbillion dlrs by the mid-1990s.\n    He said the company anticipates approval in Japan, the\nU.S., Italy, Spain and the U.K. for its ulcer treatment drug\nCytotech.\n    He also said that in a paper not yet published the drug was\nshown to prevent a flare-up of ulcers for a longer period of\ntime than Tagamet, made by SmithKline Beckman Corp &lt;SKB>.\n    Other drugs in Searle\'s pipeline include tissue plasminogen\nactivator (TPA), made by a different process than Genentech\'s\n&lt;GENE> TPA, expected to be approved for marketing this year.\n   \n Reuter\n&#3;',0
'STATUS GAME CORP &lt;STGM> 3RD QTR FEB 28 NET Oper shr six cts vs one ct\n    Oper net 194,109 vs 28,751\n    Revs 2,731,688 vs 347,134\n    Avg shrs 3,360,527 vs 2,295,359\n    Nine mths\n    Oper shr 11 cts vs five cts\n    Oper net 356,571 vs 111,545\n    Revs 5,923,907 vs 1,491,852\n    Avg shrs 3,296,982 vs 2,289,762\n    NOTE: Share adjusted for 10 pct stock dividend in December\n1986. Prior year net excludes tax credits of 5,775 dlrs in\nquarter and 17,325 dlrs in nine mths.\n    Net excludes discontinued amusement game operations gains\n144,095 dlrs vs 70,194 dlrs in quarter and loss 2,952,814 dlrs\nvs gain 196,872 dlrs in nine mths.\n Reuter\n&#3;',0
'UNIVERSAL FOODS CORP &lt;UFC> VOTES DIVIDEND Qtly div 20 cts vs 20 cts prior qtr\n    Pay 6 May\n    Record 21 April\n Reuter\n&#3;',0
'BETZ LABORATORIES INC &lt;BETZ> SETS QUARTERLY Qtly div 35 cts vs 35 cts prior\n    Pay May 14\n    Record April 30\n Reuter\n&#3;',0
'NORTHWESTERN NATIONAL LIFE &lt;NWNL> UPS PAYOUT Qtly div 24 cts vs 21-1/2 cts prior\n    Pay May 15\n    Record April 24\n    NOTE: Northwestern National Life Insurance Co.\n Reuter\n&#3;',0
'GRAIN SHIPS WAITING AT NEW ORLEANS Ten grain ships were loading and 14\nwere waiting to load at New Orleans elevators, trade sources\nsaid.\n ELEVATOR                     LOADING  WAITING\n Continental Grain, Westwego     1      6\n Mississippi River, Myrtle Grove 1      0\n ADM Growmark                    1      4\n Bunge Grain, Destrehan          1      0\n    ELEVATOR                LOADING  WAITING\n ST CHARLES DESTREHAN         1      1\n RESERVE ELEVATOR CORP        1      0\n PEAVEY CO, ST ELMO           1      0\n CARGILL GRAIN, TERRE HAUTE   2      1\n CARGILL GRAIN, PORT ALLEN    0      0\n ZEN-NOH                      1      2\n reuter\n&#3;',0
'FOOTHILL &lt;FGI>, SIERRITA IN STANDSTILL ACCORD Foothill Group Inc said it reached a\nstandstill agreement with Santa Cruz Resources Inc and its\nparent, Sierrita Resources Inc, that bars the companies from\nacquiring more than a 30 pct interest in Foothill, except\nthrough a business combination approved by Foothill\'s board.\n    The company also said Santa Cruz has advised it that it\nowns 24.7 pct of Foothill\'s outstanding common stock.\n    In addition, Santa Cruz and Sierrita have agreed to vote\ntheir shares in accordance with instructions from the Foothill\nboard in connection with certain business combinations and\ncertain anti-takeover matters, Foothill said.\n    Foothill said the arrangement also bars Santa Cruz and\nSierrita fron tendering any Foothill securities owned by them\ninto any tender offer unless certain unspecified conditions are\nmet.\n Reuter\n&#3;',0
'FIRST FEDERAL OF MICHIGAN &lt;FFOM> 1ST QTR NET Shr 3.33 dlrs vs 3.39 dlrs\n    Net 37,069,000 vs 36,902,000\n    Avg shrs 10.95 mln vs 10.05 mln\n Reuter\n&#3;',0
'COLONIAL BANCGROUP &lt;CLBGA> MAKES ACQUISITION Colonial BancGroup said it has\nsigned letter of intent to acquire Community Bank and Trust of\nHartselle, Ala., with assets of 26 mln dlrs, for undisclosed\nterms, subject to approval by regulatory authorities and\nCommunity Bank shareholders.\n    Completion is expected within the next year, it said.\n Reuter\n&#3;',0
'FAB INDUSTRIES INC &lt;FIT> 1ST QTR FEB 28 NET Shr 69 cts vs 67 cts\n    Net 2,488,000 vs 2,435,000\n    Revs 27.6 mln vs 26.5 mln\n Reuter\n&#3;',0
'EC COMMISSION AUTHORISED TO BUY MAIZE IN JUNE The European Commission was authorised\nto buy up to one mln tonnes of maize into intervention stores\nin the second half of June, although sales into intervention\nnormally end on April 30, Commission sources said.\n    They said approval was given by the EC\'s Cereals Management\nCommittee because of the possible disturbance of the market due\nto heavy imports of maize under the agreement between the EC\nand the United States.\n    The agreement guarantees access to the Spanish market for\ntwo mln tonnes of non-EC maize a year for the next four years.\n    The sources said the intervention price for the maize would\nbe 201.49 Ecus a tonne.\n    They said at this price it seemed unlikely that the full\n    They added the decision is also designed to prevent massive\noffers of maize for intervention just ahead of the normal April\n30 deadline, which could be caused by speculation about the\nimplementation of the accord with the United States.\n Reuter\n&#3;',1
'JAPAN BUYS 5,000 TONNES CANADIAN RAPESEED Japan bought 5,000 tonnes Canadian\nrapeseed overnight at an undisclosed price for May shipment,\ntrade sources said.\n Reuter\n&#3;',0
'NORTHERN TRUST CORP &lt;NTRS> 1ST QTR NET Shr 87 cts vs 73 cts\n    Net 14.7 mln vs 11.7 mln\n    Assets 8.38 billion vs 7.43 billion\n    Loans 3.91 billion vs 3.40 billion\n    Deposits 5.60 billion vs 5.08 billion\n Reuter\n&#3;',0
'COLOMBIA JAN EXPORTS UP BUT COFFEE VALUES FALL The value of colombian exports other than\ncoffee rose 55 pct in january compared with the same period\nlast year, apparently setting a trend for the trade balance in\n1987, government statistics institute figures show.\n    They amounted to 180.8 mln dlrs fob compared with 147.5 mln\ndlrs for coffee, a drop of 42 pct from last year.\n    The trade balance registered a 35 mln dlr surplus, compared\nwith a 56 mln dlr surplus in january 1986.\n    The national planning department forecast that in 1987\ncoffee, colombia\'s traditional major export, will account for\nonly one-third of total exports, or about 1.5 billion dlrs.\n Reuter\n&#3;',0
'LONDON GRAIN FREIGHTS 27,000 long tons\nUSG/Taiwan 23.25 dlrs fio five days/1,500 1-10/5 Continental.\n    Trade Banner - 30,000 long tons grain USG/Morocco 13.50\ndlrs 5,000/5,000 end-April/early-May Comanav.\n    Reference New York Grain Freights 1 of April 8, ship\nbrokers say the vessel fixed by Cam from the Great Lakes to\nAlgeria at 28 dlrs is reported to be the Vamand Wave.\n    Reference New York Grain Freights 2 of April 8, they say\nthe Cory Grain maize business from East London at 22 dlrs is to\nJapan and not to Spain as reported.\n Reuter\n&#3;',0
'LONDON SUGAR FREIGHTS TBN 14,00 mt bulk sugar\nFiji/Prai 16 dlrs fio 10,000/1,000 1-10/5 Fiji Sugar Marketing.\n    TBN 15,000 mt bulk sugar Queensland/Japan 14.65 dlrs fio\n10,000/1,000 20-30/4 CSR.\n    ENQUIRIES - Antwerp/1-3 ports Greece 40,000 mt bagged sugar\nindications 750/750 in shipments of 10,000/15,000 tonnes spread\nfrom May to July a/c unnamed charterer.\n    Inchon/India 12,600 mt bagged sugar 1,000/1,000 20/4-5/5\na/c Kaines.\n    Reunion/1-2 ports Portugal 10,000 mt bulk sugar about 20\ndlrs 2,000/750 1-10/5 a/c French charterer.\n Reuter\n&#3;',0
'LONDON GRAIN FREIGHT ENQUIRIES Antwerp/Libya 5,500 mt bagged flour 14\ndaps 24-27/4.\n    New Orleans/Guanta 9,387 mt bulk hss 3,000/13 days\n25-4/5-5.\n    Naantali/Saudi Red Sea 30,000/35,000 mt barley 4,000/3,000\n20-30/4 or early May.\n    Dunkirk/Xingang 12,000 mt bagged flour 1,500/1,700 13-20/4.\n    Toledo/Seaforth 17,000 mt hss offers 18.50 dlrs four\ndays/8,000 13-15/4.\n    River Plate/Malaysia 20,000/22,000 long tons hss\n2,000/2,000 Apr.\n Reuter\n&#3;',0
'HOME SAVINGS BANK &lt;HMSB> 1ST QTR NET Shr 51 cts vs not given\n    Net 6,089,000 vs 7,310,000\n    NOTE: Company went public in November 1986.\n    Net includes loan loss provisions of 75,000 dlrs vs 30,000\ndlrs and gains on sale of securities of 756,000 dlrs vs\n2,468,000 dlrs pretax.\n    1986 net includes tax credit 1,022,000 dlrs.\n    1987 net includes 2,400,000 dlr gain from tax credit\nresulting in reduction of goodwill.\n Reuter\n&#3;',0
'AMOSKEAG BANK SHARES INC &lt;AMKG> 1ST QTR NET Shr 70 cts vs 67 cts\n    Net 6,416,000 vs 6,057,000\n    NOTE: Net includes pretax securities sales gains of\n5,900,000 dlrs vs 5,900,000 dlrs.\n Reuter\n&#3;',0
'MSR EXPLORATION LTD &lt;MSR> YEAR LOSS Shr loss five cts vs profit 10 cts\n    Net loss 381,391 vs profit 736,974\n    Revs 6,161,391 vs 9,241,882\n    NOTE: Canadian dollars.\n    Proved oil reserves at year-end 3.3 mln barrels, up 39 pct\nfrom a year earlier, and natural gas reserves 4.7 billion cubic\nfeet, off nine pct.\n Reuter\n&#3;',0
'SOUTHMARK &lt;SM> TO OFFER SPECIAL DIVIDEND Southmark Corp said it will issue its\nshareholders a special dividend right to acquire 22 shares of\nAmerican Realty Trust &lt;ARB> for each 100 shares of Southmark\nthey own.\n    Each right entitles the holder to buy one share of\nbeneficial interest of American Realty Trust at a price of 3.75\ndlrs per share, Southmark said.\n    Southmark said the offer\'s record date is May 1, with an\nex-dividend date of April 27, adding that the it will issue the\nrights to shareholders on May 6 and the offer will expire on\nMay 22.\n    Southmark said it received the rights on April 6 as the\nholder of about 84 pct of American Realty Trust\'s outstanding\nshares.\n    Holders of fewer than 455 Southmark shares who would\nreceive rights to acquire fewer than 100 American Realty shares\nwill be paid cash in lieu of the rights distribution, the\ncompany said.\n    Southmark said it will compute the cash price paid based on\nthe average closing market price of the rights on the American\nStock Exchange for the first ten days the rights are traded,\nbeginning April 6.\n    In order to get the dividend for these rights a Southmark\nshareholder must own common stock on the ex-dividend date,\nApril 27, the company said.\n    After that, Southmark said its common stock will be traded\non an ex-rights basis.\n Reuter\n&#3;',0
'EXPORTS OTHER THAN COFFEE RISE SHARPLY IN COLOMBIA Colombian exports other than coffee rose\n55 pct in January compared with the same period last year,\nfigures from the government statistics institute show.\n    Non-coffee exports amounted to 180.8 mln dlrs fob compared\nwith 147.5 mln dlrs for coffee, a drop of 42 pct from last\nyear.\n    The trade balance registered a 35 mln dlr surplus, compared\nwith a 56 mln dlr surplus in January 1986.\n    The national planning department forecast that in 1987\ncoffee, Colombia\'s traditional major export, will account for\nonly one third of total exports, or about 1.5 billion dlrs.\n REUTER\n&#3;',0
'TAFT BROADCASTING &lt;TFB> COMPLETES STATION SALE TVX Broadcast Group Inc\n&lt;TVXG> said it has completed the previously-announced purchase\nof five Taft television stations.\n    Last week, TVX said the sale, which was scheduled to close\nthen, had been delayed.\n    Taft said the purchase price was 240 mln dlrs, as\npreviously announced. The price is subject to final\nadjustments, Taft said.\n    Taft did not indicate the size of the gain, if any, it\nwould post on the sale.\n    It said the stations are WTAF-Philadelphia,\nWDCA-Washington, WCIX-Miami, KTXA-Dallas and KTXH-Houston.\n Reuter\n&#3;',0
'U.S. MARCH RETAIL SALES CUT BY LATE EASTER U.S. retailers\' lackluster March sales\nwere due to a late Easter, according to analysts who expect a\nrecovery in April.\n    \"Sales look soft because of the Easter shift, but\nunderlying business is better than the numbers indicate,\" said\nBear Stearns analyst Monroe Greenstein.\n     Analysts generally average the sales results of March and\nApril to account for the variation of Easter\'s occurance. This\nyear, Easter is being observed on April 19, which is three\nweeks later than last year.\n    Analyst Edward Johnson of Johnson Redbook Associates said\nsales for March rose an unadjusted 2.5 to 3.0 pct, and a\nseasonally adjusted 5.5 pct to six pct, compared to an adjusted\n5.7 pct last year.\n    \"The obvious question is whether these numbers indicate\nthat the consumer activity is slowing, but it does not appear\nto be because liquidity and employment are rising,\" said\nanalyst Jeff Edelman, analyst of Drexel Lambert and Burnham.\n    Overall, analysts said first half sales are coming in\naccording to expectations. Sales for all of 1987 are expected\nto rise about 5.5 pct to six pct, up a bit from 1986\'s rise.\n     In March, sales of housewares, furniture and big ticket\nitems were stronger than apparel sales, signaling to many\nanalysts that apparel sales will be strong in April as the\nholiday nears.\n    \"Sales gains in home appliances and home fashions reflect a\ncontinuing strength in the housing market,\" said Edward\nBrennan, chairman of Sears Roebuck and Co &lt;S> which reported an\noverall sales gain of 4.2 pct. Brennan said sales of women\'s\nsportswear were also excellent.\n    \"Sears\' total apparel sales was up only modestly, but even\na modest improvement in apparel is a very good accomplishment\ndue to the fact that most people will buy apparel in April,\"\nsaid C.J. Lawrence analysts Harry Mortner. \n    J.C. Penney Co Inc &lt;JCP> and Dayton Hudson Corp &lt;DH> were\namong the weaker performers with comparable stores sales\ndeclining 1.5 pct and 4.9 pct, respectively. Penney\'s store and\ncatalog sales declined 1.3 pct overall and Dayton Hudson\'s\noverall sales rose 4.8 pct.\n    Penney chairman William Howell said, \"Sales continued\nstrong for catalog operations and, geographically, ranged from\nvery active in the east to weak in the economically depressed\nsouthwest.\"\n    \"Penney\'s been shifting away from leisure time activity\nwear to other apparel lines, which yield higher profit margins,\nbut are currently hurting sales,\" said Greenstein of Bear\nStearns.\n    Hudson chairman Kenneth Mackes cited the late Easter for\nthe decline. Edelman of Drexel said that \"Hudson had a tougher\ncomparison because it had an exceptionally good 1986.\"\n    Most analysts agreed that promotions are slightly lower\nthan last year.\n    \"Retailers are not planning for much - inventories are\nbeing kept lean, markdowns are lower than last year, but sales\nare coming through anyway,\" said CJ Analyst Harry Mortner.\n    Mortner said he expects profits in the first quarter to  \nbe better than he had originally expected in the beginning of\nthe year.\n    Most retailers report their first quarter in the middle of\nMay.\n     MARCH RETAIL SALES FOR MAJOR U.S. RETAILERS\n    STORE       PCT        1987       1986\n    SEARS       4.2     2.6 BIL       2.5 BIL \n    K MART      4.6     2.2 BIL       2.1 BIL \n    JC PENNEY  (1.3)    1.1 BIL       1.1 BIL \n    WAL-MART     32     1.1 BIL       855 MLN\n    FEDERATED   4.9     934 MLN       891 MLN\n    MAY         3.5     885 MLN       855 MLN\n    DAYTON      4.8     792 MLN       756 MLN\n    WOOLWORTH   0.2     591 MLN       590 MLN\n    ZAYRE      12.7     522 MLN       464 MLN\n Reuter\n&#3;',0
'FIRST INTERSTATE EXPECTS BRAZIL, ECUADOR LOAN ACTIONS TO CUT 1987 NET BY 15.4 MLN DLRS\n ',0
'MOROCCO TENDERS FOR 55,000 TONNES PL 480 SOYOIL Morocco is scheduled to tender April 14\nfor a total of 55,000 tonnes of U.S. soyoil under PL-480 for\nshipments from May through September, private export sources\nsaid.\n    The tender calls for shipment of 6,100 tonnes in May,\n12,200 tonnes each in June, July and August and 12,300 tonnes\nin September, they said.\n Reuter\n&#3;',0
'MIDLANTIC CORP &lt;MIDL> 1ST QTR NET Shr diluted 1.18 dlrs vs 1.04 dlrs\n    Net 45.0 mln vs 39.2 mln\n    Assets 16.7 billion vs 15.2 billion\n    Deposits 13.0 billion vs 12.1 billion\n    Loans 11.9 billion vs 10.1 billion\n    NOTE: Results restated for merger of Midlantic Banks Inc\nand Continental Bancorp Inc on January 30, 1987.\n Reuter\n&#3;',0
'COMMUNITY BANK SYSTEM INC &lt;CBSI> 1ST QTR NET Shr 46 cts vs 49 cts\n    Net 1,101,551 vs 831,398\n    NOTE: Share adjusted for two-for-one stock split in May\n1986.\n Reuter\n&#3;',0
'FITCHBURG GAS &lt;FGE> RAISES QUARTERLY Qtly div 38 cts vs 35 cts prior\n    Pay May 15\n    Record May One\n Reuter\n&#3;',0
'NORTHERN TRUST &lt;NTRS> NET HURT BY BRAZIL LOANS Northern Trust Corp said its first\nquarter earnings were reduced by 875,000 dlrs by placing 53.2\nmln dlrs of loans to Brazil and six mln dlrs in loans to\nEcuador on a cash basis.\n    Should these loans remain on nonperforming basis for the\nrest of 1987, net income for year will be cut by about 3.2 mln\ndlrs, the bank said.\n    Earlier it posted net income for the period of 14.7 mln\ndlrs or 87 cts a share, up from 11.7 mln dlrs or 73 cts a\nshare.\n    Total nonperforming assets were 114.1 mln dlrs at March 31,\nup from 53.4 mln dlrs at December 31 and 79 mln dlrs at March\n31, 1986 the bank said.\n    The provision for loan losses for the first quarter was\neight mln dlrs compared to 11 mln a year ago. Net loan charge\noffs were six mln dlrs, down from 11 mln dlrs a year ago.\n    The reserve for loan losses was 78.1 mln dlrs, or two pct\nof outstanding loans, higher than the 56 mln dlrs of 1.65 pct\nof loans outstanding at March 31, 1986.\n   \n Reuter\n&#3;',0
'DOE RUN RAISES LEAD PRICE 0.50 CT TO 26.50 CTS Doe Run Company said it is\nincreasing the price of its corroding grade lead by one-half\ncent to 26.50 cents a lb, effective immediately.\n    The price is quoted FOB, Herculaneum, Mo., and FOB, Boss,\nMo., with freight allowed for carload quantities.\n   \n Reuter\n&#3;',0
'SPAIN\'S FOREIGN RESERVES RISE IN FEBRUARY Spain\'s foreign reserves rose by 905 mln\ndlrs in February to total 17.05 billion dlrs, compared with\n14.11 billion dlrs in February 1986, Bank of Spain figures\nshow.\n    Under a new accounting system introduced this month,\nSpain\'s foreign reserves now exclude foreign currency held by\nfinancial institutions.\n    Under the previous system, Spain\'s foreign reserves would\nhave risen by 391 mln dlrs in February, taking into account a\nfall of 514 mln dlrs in financial institutions\' foreign\ncurrency position.\n    In January this year, the Central Bank\'s foreign reserves\nrose by 143 mln dlrs, while financial institutions\' foreign\ncurrency position fell by 118 mln dlrs.\n REUTER\n&#3;',0
'&lt;SULPETRO LTD> 1ST QTR JAN 31 LOSS Shr not given\n    Net loss 9,900,000 vs loss 17,300,000\n    Revs 14.7 mln vs 29.8 mln\n    Note: Previous loss restated.\n Reuter\n&#3;',0
'WESTERN FEDERAL SAVINGS BANK &lt;WFPR> 1ST QTR NET Shr 74 cts vs 92 cts\n    Net 1,300,450 vs 1,600,258\n    NOTE: Share adjusted for 10 pct stock dividend in July\n1986.\n    Company based in Mayaguez, Puerto Rico.\n Reuter\n&#3;',0
'FINAL TEST INC &lt;FNLT> 4TH QTR LOSS Shr loss six cts vs loss 88 cts\n    Net loss 123,840 vs loss 1,298,377\n    Revs 1,333,416 vs 385,146\n    Year\n    Shr profit six cts vs loss 1.47 dlrs\n    Net profit 124,872 vs loss 2,171,011\n    Revs 4,618,232 vs 2,959,141\n Reuter\n&#3;',0
'PROTECTIVE LIFE &lt;PROT> IN ACQUISITION Protective Life Corp said it\nhas signed a letter of intent to assume &lt;Liberty Life Insurance\nCo\'s> group insurance on July 1, subject to regulatory\napprovals.\n    Terms were not disclosed.\n\n Reuter\n&#3;',0
'A.O. SMITH CORP &lt;SMC> SETS QUARTERLIES Qtly divs Class A and B 20 cts vs 20 cts\n    Pay May 15\n    Record April 30\n Reuter\n&#3;',0
'CENTRAL BANCORP INC &lt;CBAN> 1ST QTR NET Shr 1.02 dlrs vs 78 cts\n    Net 14.4 mln vs 11.0 mln\n    NOTE: 1987 net includes gain 2,222,000 dlrs from\ntermination of pension plan.\n    Results restated for pooled acquisitions and share adjusted\nfor stock dividends.\n Reuter\n&#3;',0
'&lt;EMCOR> COMPLETES SALE OF STOCK TO INVESTORS Emcore said it completed\nthe sale of 4.1 mln dlrs of stock to Citicorp Venture Capital\nLtd, Concord Ventures of Dillon Read and Co and private\ninvestors.\n Reuter\n&#3;',0
'VLSI TECHNOLOGY INC &lt;VLSI> 1ST QTR NET Shr seven cts vs six cts\n    Net 1,612,000 vs 1,406,000\n    Revs 38.2 mln vs 34.3 mln\n    Avg shrs 23,742,000 vs 22,945,000\n Reuter\n&#3;',0
'BELGIAN CURRENT ACCOUNT SURPLUS WIDENS IN 1986 Belgium\'s current account surplus,\nmeasured on a cash basis, widened sharply to 134.9 billion\nfrancs last year from 17.5 billion in 1985, the Finance\nMinistry said.\n    The increase was due almost entirely to a sharp rise in the\ngoods trade surplus to 126.1 billion francs from 20.4 billion.\n    The services trade surpluses increased to 52.4 billion\nfrancs from 38.9 billion while the deficit on transfers rose\nslightly to 43.6 billion from 41.8 billion.\n    Private sector capital operations showed a steeply higher\ndeficit of 160.7 billion francs after 56.9 billion in 1985.\n Reuter\n&#3;',0
'SILICON SYSTEMS INC &lt;SLCN> 2ND QTR MARCH 28 Shr profit five cts vs profit two cts\n    Net profit 325,000 vs profit 105,000\n    Revs 19.5 mln vs 16.1 mln\n    Six Mths\n    Shr profit nine cts vs loss 35 cts\n    Net profit 627,000 vs loss 2,280,000\n    Revs 36.9 mln vs 27.4 mln\n Reuter\n&#3;',0
'DISEASE PUTS ZIMBABWE BEEF EXPORTS IN JEOPARDY Zimbabwe\'s beef exports to the European\nCommunity (EC), potentially worth 70 mln Zimbabwean dlrs this\nyear, may be jeopardised by an outbreak of foot and mouth\ndisease in southwestern Matabeleland, industry sources said.\n    The country has temporarily suspended beef exports to the\nEC because of the outbreak and awaits a decision from the EC\nveterinary committee, which is considering a formal ban.\n    The outbreak in the country\'s main ranching province has\nalready led neighbouring beef-producing Botswana and Zambia to\nbar beef and dairy imports from Zimbabwe, threatening the dairy\nindustry with a loss of at least one mln dlrs in export\nrevenue.\n    \"The situation is still uncertain at the moment. Normally\nwhen an outbreak occurs there is an automatic suspension of\nbeef exports,\" one industry source said yesterday.\n     Commenting on EC policy, he explained, \"Depending on the\nseriousness of the outbreak the (veterinary) committee then\ndecides on three options, allowing us to continue exporting\nbeef from disease-free areas, clamping a three-month suspension\non exports or banning us from exporting for a year. We are\nstill awaiting their decision,\" he added, asking not to be\nidentified.\n    Zimbabwe was granted an export quota of 8,100 tonnes of\nhigh-grade beef to EC markets in 1985 after the country had\nspent millions of dollars erecting disease-control fences and\nupgrading abattoirs to meet stringent EC rules.\n    Should the EC ban Zimbabwean exports, the country will be\nforced to sell its beef on glutted world beef markets at low\nprices, the source said. Projected earnings from beef sales\ncould fall about 23 mln dlrs as a result, he said.\n Reuter\n&#3;',0
'SHAWMUT CORP &lt;SHAS> 1ST QTR NET Shr 1.32 dlrs vs 1.26 dlrs\n    Net 21.2 mln vs 17.4 mln\n    Avg shrs 16.1 mln vs 13.8 mln\n    Assets 10.0 billion vs 8.4 billion\n    Deposits 7.2 billion vs 6.1 billion\n    Loans 6.7 billion up 26 pct\n    NOTE: Results restated for pooled acquisitions of Shawmut\nHome Bank and Fidelity Trust Co and include First Gibraltar\nMortgage Corp from December 30, 1986 purchase.\n    Loan loss provision 8,800,000 dlrs vs 6,300,000 dlrs.\n Reuter\n&#3;',0
'MINNTECH &lt;MNTX> SEES FIRST QUARTER LOSS Minntech Corp said it expects\nto report loss for its fiscal 1988 first quarter to end June\n30, due to start-up costs related to a new membrane oxygenator\nand water filtration products.\n    However, revenues and earnings should consistently increase\nthroughout the remainder of the year, President Louis Cosentino\ntold analysts.\n Reuter\n&#3;',0
'GORDEX MINERALS LOCATES GOLD DEPOSITS &lt;Gordex Mineral Ltd>\nsaid geologists located more than one mln tons of gold-bearing\ndeposits, 0.057 ounces per ton, at Cape Spencer.\n    The company said it plans to invest 2.5 mln Canadian dlrs\nto expand on-site treatment facilities to process 100,000 tons\nof gold-bearing deposits this year and 200,000 tons in 1988.\n    Prior to the completion of the recent exploration program,\nGordex estimated the Cape Spencer deposit had 200,000 tons.\n    Gordex said the expansion of the Cape Spencer facilities is\nintented to enable it to operate 24 hours a day throughout the\nyear.\n Reuter\n&#3;',0
'U.S. CONGRESSMAN INTRODUCES REAGAN SUGAR BILL Rep. John Porter, R-Ill., introduced\nin the House of Representatives legislation proposed by the\nReagan administration to slash the U.S. sugar price support, a\nspokesman for Porter said.\n    The spokesman said the bill was introduced without any\nchanges from the administration\'s proposal sent to Congress\nlast month.\n    That plan calls for a cut in the sugar loan rate to 12\ncents per pound from 18 cents now. Sugar growers would be\ncompensated for the price cut with targeted direct payments,\nto be gradually phased-out through 1990. The payments to\ngrowers would cost an estimated 1.1 billion dlrs.\n    Representatives of sugar growers have rejected the\nproposal, saying it would ruin the domestic sugar industry.\n Reuter\n&#3;',0
'CANADA 91-DAY T-BILLS AVERAGE 6.95 PCT, MAKING BANK RATE 7.20 PCT\n ',0
'REPUBLIC SAVINGS AND LOAN &lt;RSLA> 3RD QTR NET Shr 89 cts vs not available\n    Net 1,163,000 vs 466,000\n    Nine Mths\n    Net 3,696,000 vs 1,624,000\n    NOTE: Company converted to stock ownership effective August\n1986.\n    Periods end March 31, 1987 and 1986 respectively.\n Reuter\n&#3;',0
'SOUTHMARK &lt;SM> TO ISSUE AMERICAN REALTY RIGHTS Southmark Corp said shareholders will be\nissued, as a special dividend, rights to acquire 22 shares of\nAmerican Realty Trust &lt;ARB> for each 100 shares of Southmark\nowned.\n    The record date for Southmark shareholders to receive these\nrights will be May one with an ex-dividend date of April 27.\n    Southmark received these rights on April six, as the holder\nof about 84 pct of American Realty Trust\'s outstanding shares.\n   \n Reuter\n&#3;',0
'WALL STREET STOCKS/UAL INC &lt;UAL> Takeover speculation continues to fuel\nheavy trading in UAL Inc, traders said.\n    UAL rose 1-5/8 to 73-5/8 on volume of more than two mln\nshares, after trading with little upward movement earlier in\nthe session.\n    Traders said rumors, which began yesterday, added to\nspeculation that the company would be the target of a takeover.\n    They said it was believed Coniston Partners and the\nPritzker family of Chicago were buying the stock.\n    Coniston declined comment and the Pritzkers had no comment.\n    Traders said there was speculation a bidder might appear,\nand also that real estate developer Donald Trump, who holds a\nstake in UAL, might participate in a takeover bid. UAL pilots\nsaid they would be willing to pay 4.5 billion dlrs, which\nincludes debt, for the company\'s United Airlines unit.\n Reuter\n&#3;',0
'GORDEX MINERALS LOCATES CANADA GOLD DEPOSITS Gordex Mineral Ltd\nsaid geologists located more than one mln short tons of\ngold-bearing deposits, 0.057 ounces per ton, at Cape Spencer.\n    The company said it plans to invest 2.5 mln Canadian dlrs\nto expand on-site treatment facilities to process 100,000 tons\nof gold-bearing deposits this year and 200,000 tons in 1988.\n    Prior to the completion of the recent exploration program,\nGordex estimated the Cape Spencer deposit had 200,000 tons.\n    Gordex said the expansion of the Cape Spencer facilities is\nintended to enable operation 24 hours a day throughout the\nyear.\n Reuter\n&#3;',0
'CANADIAN BANK RATE RISES IN WEEK Canada\'s key bank rate rose to 7.20 pct\nfrom 7.15 pct the week before, Bank of Canada said.\n    Bank rate is set 1/4 percentage point above the average\nyield on the weekly issue of 91-day treasury bills. This week\'s\nyield was 6.95 pct compared with the previous week\'s 6.90 pct.\n    Tenders were accepted for 2.55 billion dlrs of 91-day bills\nat an average price of 98.296 dlrs against 98.310 dlrs last\nweek.\n    The 1.40 billion dlrs of 182-day bills were priced at an\naverage 96.488 dlrs against 96.549 dlrs last week, to yield an\naverage 7.30 pct, versus 7.17 pct last week.\n    The 500 mln dlrs of 364-day bills were priced at an average\n92.969 dlrs against 93.159 dlrs last week, to yield an average\n7.58 pct versus 7.38 pct last week.\n    Tenders will be received next week for 2.50 billion dlrs of\n 91-day bills, 1.40 billion dlrs of 182-day bills and 500 mln\ndlrs of 364-day bills.          \n Reuter\n&#3;',0
'CONSENSUS SEEN ON TIN PACT EXTENSION The quarterly session of the\nInternational Tin Council (ITC) continued without formal\nagreement on an extension of the sixth International Tin\nAgreement (ITA), but delegates said it was apparent there was a\ngeneral consensus the Agreement should be prolonged.\n    Some delegations are still awaiting formal instructions\nfrom capitals, but informally most have indicated they favour\nan extension, delegates said.\n    This afternoon\'s session was used by delegates to seek\nfurther clarification on some of the issues involved, and to\ndiscuss internal matters.\n    Some sources were optimistic a resolution on an extension\ncould be passed tomorrow but others suggested a special session\nwould be convened to adopt the resolution after the Association\nof Tin Producing Countries meeting April 14 to 16.\n    The full Council session resumes tomorrow at 1330 GMT after\na European Community coordination meeting at 1100.\n Reuter\n&#3;',0
'SLATER ELECTRIC INC &lt;SLAT> 1ST QTR FEB 28 NET Shr four cts vs 10 cts\n    Net 31,000 vs 82,000\n    Sales 10.9 mln vs 9,760,000\n Reuter\n&#3;',0
'SOUTH JERSEY INDUSTRIES INC &lt;SJI> 1ST QTR NET Oper shr 1.64 dlrs vs 1.50 dlrs\n    Oper net 6,200,000 vs 5,600,000\n    Revs not given\n    12 mths\n    Oper shr 2.76 dlrs vs 2.58 dlrs\n    Oper net 10.4 mln vs 9,600,000\n    NOTE: Net income including discontinued operation and, in\nboth 1986 periods, 1,500,000 dlr gain from change in accounting\nfor which results restated, 6,200,000 dlrs vs 7,200,000 dlrs in\nquarter and 10.6 mln dlrs vs 11.6 mln dlrs.\n Reuter\n&#3;',0
'CITY NATIONAL CORP &lt;CTYN> 1ST QTR NET Shr 56 cts vs 35 cts\n    Net 10,271,000 vs 6,425,000\n    Loans 1.44 billion vs 1.20 billion\n    Deposits 2.36 billion vs 1.96 billion\n    Assets 2.96 billion vs 2.55 billion\n Reuter\n&#3;',0
'ALLIED BANKSHARES INC &lt;ABGA> 1ST QTR NET Shr 50 cts vs 26 cts\n    Net 1,316,000 vs 656,000\n    NOTE: qtr 1987 includes tax gain 500,000 dlrs, or 19 cts\nper share.\n Reuter\n&#3;',0
'ROYAL DUTCH &lt;RD> UNIT TO CUT HEATING OIL PRICE Royal Dutch/Shell\'s Scallop Petroleum\nCo subsidiary said it will reduce the price it charges contract\nbarge customers in New York harbor for heating oil by 2.5 cts a\ngallon, effective tomorrow.\n    The company said the price cut will bring the contract\nbarge price for heating oil to 51 cts a gallon.\n Reuter\n&#3;',0
'MAGMA RAISES COPPER PRICE 0.25 CT TO 65.75 CTS Magma Copper Co, a subsidiary of\nNewmont Mining Corp, said it is raising its copper cathode\nprice by 0.25 cent to 65.75 cents a lb, effective immediately.\n Reuter\n&#3;',0
'FIRST BANK SYSTEM INC &lt;FBS> 1ST QTR NET Shr 95 cts vs 80 cts\n    Net 57.4 mln vs 46.6 mln\n    Assets 28.39 billion vs 25.87 billion\n    Loans 13.99 billion vs 14.35 billion\n Reuter\n&#3;',0
'CENTERRE BANCORP &lt;CTBC> 1ST QTR NET Shr 94 cts vs 1.02 dlrs\n    Net 7,255,000 vs 7,856,000\n    Loans 2.88 billion vs 2.94 billion\n    Deposits 4.05 billion vs 3.73 billion\n    Assets 5.43 billion vs 5.14 billion\n\n Reuter\n&#3;',0
'SEA GALLEY STORES INC &lt;SEAG> 1ST QTR NET Oper shr four cts vs one ct\n    Oper net 108,000 vs 30,000\n    Revs 12.8 mln vs 14.8 mln\n    Note: Current qtr figures exclude operating loss\ncarryforward gain of 57,000 dlrs, or two cts per share vs gain\nof 21,000 dlrs, or one ct per share.\n Reuter\n&#3;',0
'EGYPT CANCELS WHEAT TENDER Egypt has cancelled its April 2 tender for\n200,000 tonnes of any origin wheat for April 15-30 shipment,\ntrade and Egyptian official sources said.\n    Trade sources said the cancellation followed an offer by an\nEgyptian company, Islamic Corp, at 85.80 dlrs/tonne cost and\nfreight, undercutting other traders\' offers of between 93.90\nand 94.49 dlrs/tonne.\n    An Egyptian trade official in Paris confirmed cancellation\nof the tender following the Islamic Corp offer, which he said\nthe government had refused for legal reasons.\n    The official denied trade reports that the government might\nhave substituted a private deal with Islamic Corp for the\noriginal tender.\n Reuter\n&#3;',0
'HOUSE PANEL WANTS PENTAGON MANAGE U.S. STOCKPILE The House Armed Services Committee\nhas voted for a transfer in the management of stockpiled\nmaterials for national defense to the U.S. Defense Secretary.\n    The committee also voted for legally-binding quantity and\nquality requirements on the materials, mostly metals.\n    The measures are a part of the Defense Authorization Bill\nwhich will be voted on in the House next month.\n    The purpose of the measures, passed by the committee\nyesterday, is to improve stockpile management and discourage\nsell-offs of materials that could jeopardize strategic needs, a\nstaff member of the committee told Reuters.\n    \"They (the stockpiles) stand to gain the most by being\nmanaged properly,\" said the staffer. \"Management of the stockpile\nover the last 10 years has been atrocious.\"\n    Responsibility for stockpile management now belongs to a\nWhite House agency, the Federal Emergency Management Agency.\n    The staffer said under the measures passed by the committee\nthe Secretary of Defense would have more influence over\ndecisions to keep or sell strategic stockpile materials.\n    The administration has proposed a goal of 700 million dlrs\nworth of strategic materials to be held in the stockpile. The\nstockpile now contains around 10 billion dlrs of materials.\n    He said several agencies currently helped FEMA to manage\nthe stockpile and decide how much to sell to help the deficit.\n    These agencies included the Office of Management and Budget\nand the Departments of Interior and Commerce, he said.\n    The committee believed the shared involvement in stockpile\nmanagement was counter-productive, he said.\n Reuter\n&#3;',0
'CANADA TRADE RISE SEEN AS START OF RECOVERY Canada\'s trade picture has brightened\nconsiderably, underscoring economists\' predictions the sector\nwould post a long awaited recovery this year.\n    The federal government reported today that the monthly\nsurplus soared to 1.25 billion Canadian dlrs in February,\ndouble January\'s 623 mln dlrs surplus and sharply higher than\nFebruary 1986\'s 189 mln dlr tally.\n    \"Hopefully it\'s the beginning of a trend,\" said Richardson\nGreenshields of Canada Ltd economist Susan Clark in Toronto.\n    Economists generally don\'t expect such large gains over the\nnext months, but are looking for an upward trend throughout the\nyear.\n    \"We thought the trade balance would improve ... over the\nyear, and it certainly looks as if this morning\'s figure is\nindicative of that,\" commented economist James Donegan at the\nToronto securities firm of Midland Doherty Ltd.\n    Statistics Canada reported the surplus was driven by a 23\npct gain in automobile product exports to a record 3.2 billion\ndls in the month.\n    \"Recovery in the automotive sector helped push the value of\nexports up by 5.9 pct in February,\" the agency said in its\nmonthly report.\n    Total exports expanded to 10.44 billion dlrs from 9.85\nbillion dlrs in February, while imports slipped to 9.19 billion\ndlrs from 9.23 billion dlrs.\n    Economists have predicted the 1987 trade surplus would end\nup three to five billion dlrs higher than last year\'s dismal\n10.1 billion dlr total. In 1985 the surplus was 17.48 billion\ndlrs.\n    Money market analysts said the positive trade news touched\noff a modest rally in the Canadian dollar, which rose to 76.85\nU.S. cts on North American markets early this morning after\nclosing at 76.58 cts Wednesday.\n    The currency was hovering around 76.78 cts in early\nafternoon trading.\n    Economists have been banking on an improved trade\nperformance this year to stimulate an otherwise sluggish\nCanadian economy.\n    Money market analysts said the positive trade news touched\noff a modest rally in the Canadian dollar, which rose to 76.85\nU.S. cts on North American markets early this morning after\nclosing at 76.58 cts Wednesday.\n    The currency was hovering around 76.78 cts in early\nafternoon trading.\n    Economists have been banking on an improved trade\nperformance this year to stimulate an otherwise sluggish\nCanadian economy.\n    They say the country\'s consumers, who have been spending at\na torrid pace in recent years, will sharply curtail outlays\nthis year and this should help curtail the flow of imports into\nthe country.\n    Meanwhile, demand for Canadian exports in the United\nStates, by far the country\'s largest market, is expected to be\nstrong as a result of a projected rise in American consumer\nspending and the relatively low value of the Canadian currency.\n    \"We maintain what\'s going to drive Canada\'s export\nperformance is income growth in the U.S.,\" said Midland\'s\nDonegan.\n    But at the Bank of Nova Scotia, deputy chief economist\nWarren Jestin was less optimistic about the U.S. outlook and\nsaid it could be a mistake to read too much into February\'s\ntrade upturn.\n    Jestin said, \"Given the fact the U.S. economy is showing\nsigns of weakening--particularly car sales--it would indicate\nthat part of the strength (in Canada\'s trade figures) is\nprobably transitory.\"\n Reuter\n&#3;',0
'FIRST BANK &lt;FBS> SEES LOSS ON BRAZILIAN LOANS First Bank Systems Inc, in reporting\nhigher first quarter net, said that if interest is not paid on\nthe 140 mln dlrs in Brazilian loans and nine mln dlrs in\nEcuadorian loans for the rest of 1987, its profits for the\nentire year will be cut by 6.9 mln dlrs.\n    The banking firm said the non-performing status of these\nloans cut first quarter net by 1.7 mln dlrs.\n    Earlier it reported first quarter profits of 57.4 mln dlrs\nor 95 cts a share, up from 46.6 mln dlrs or 80 cts a share in\nthe year-ago period.\n    Nonaccrual loans, restructured loans and other real estate\nwere 637 mln dlrs, or 2.24 pct of total assets, compared to 514\nmln dlrs or 1.84 pct of assets at the end of 1986 and 636.1\nmln, or 2.46 pct of assets at March 31, 1986.\n    The provision for loan losses in the quarter was 35 mln\ndlrs, compared to 152.1 mln in the first quarter 1986, when\nthere was a special addition to the reserve of 100 mln dlrs.\nNet charge offs were 34.7 mln, compared to 41.1 mln dlrs a year\nearlier.\nREUTER^M\n&#3;',0
'USDA ESTIMATES 1986/87 USSR GRAIN IMPORTS  28.0 MLN TONNES VS 26.0 IN MARCH, 29.9 YEAR AGO\n ',0
'USDA ESTIMATES 1986 SOVIET GRAIN CROP  AT 210 MLN TONNES VS 210 IN MARCH, 192 YEAR-AGO\n ',0
'USDA - U.S. 1986/87 ENDING CORN STOCKS  5,240 MLN BU, WHEAT 1,848 MLN, SOYBEANS 610 MLN\n ',1
'USDA 1986/87 U.S. ORANGE CROP 190,050,000  BOXES, FLORIDA CROP 122,900,000 BOXES\n ',0
'USDA ESTIMATES 1986/87 ORANGE JUICE YIELD  AT 1.50 GALS PER BOX FROM FLORIDA CROP\n ',0
'VORNADO INC &lt;VNO> 4TH QTR JAN 31 NET Oper shr 1.64 dlrs vs 84 cts\n    Oper net 4,583,000 vs 2,869,000\n    Revs 20.1 mln vs 19.0 mln\n    Avg shrs 2,791,639 vs 3,432,746\n    Year\n    Oper shr 4.46 dlrs vs 3.20 dlrs\n    Oper net 14.1 mln vs 10.9 mln\n    Revs 74.6 mln vs 68.0 mln\n    Avg shrs 3,154,665 vs 3,425,187\n    NOTE: Operating net excludes gains of nothing vs 2,444,000\ndlrs, or 72 cts a share, in quarter and 1,890,000 dlrs, or 60\ncts a share, vs 9,3267,000 dlrs, or 2.72 dlrs a share, in year\nfrom tax loss carryforwards\n Reuter\n&#3;',0
'FIRST UNION CORP FIRST QTR SHR 71 CTS VS 61 CTS\n ',0
'U.S. SUPPLY/DEMAND HIGHLIGHTS Following are highlights of the U.S.\nAgriculture Department supply/demand projections for the\n1986/87 seasons, in mln bushels, with comparisons, unless noted\n--\n    Corn -- Stocks, Aug 31, 1987, at 5,240, vs 5,595 last\nmonth. Stocks, Aug 31, 1986, at 4,040, vs 4,040 last month.\n    Exports projected at 1,375, vs 1,250 last month. Exports in\n1985/86 at 1,241, vs 1,241 last month.\n    Domestic use at 5,680, vs 5,450 last month. Usage in the\n1985/86 season at 5,255, vs 5,255 last month.\n    Wheat -- Stocks, May 31, 1987, projected at 1,848, vs 1,877\nlast month. Stocks on May 31, 1986, at 1,905, vs 1,905 last\nmonth.\n    Exports in 1986/87 season at 1,025, vs 1,025 last month.\n1985/86 season at 915, vs 915 last month.\n    Domestic use in 1986/87 at 1,134, vs 1,105 last month.\n1985/86 at 1,045, vs 1,045 last month.\n    Cotton -- in mln 480 lb bales - Stocks, July 31, 1987, at\n5.40, vs 5.49 last month. Stocks July 31, 1986, at 9.35, vs\n9.35 last month.\n    Exports in 1986/87 season at 6.66, vs 6.76 last month.\nExports in 1985/86 - 1.96, vs 1.96 last month.\n    Soybeans -- in mln bushels - Stocks, Aug 31, 1987,\nprojected at 610, vs 635 last month. Stocks Aug 31, 1986, at\n536, vs 536 last month.\n    Soybean crushings during 1986/87 - 1,130, vs 1,115 last\nmonth. Crushings in 1985/86 at 1,053, vs 1,053 last month.\n    Exports in 1986/87 season at 700, vs 700 last month.\nExports in 1985/86 at 740, vs 740 last month.\n    Soybean Oil -- mln lbs - Stocks on Sept 30, 1987, at 1,360,\nvs 1,200 last month. Stocks on Sept 30, 1986, at 947,  vs 947\nlast month.\n    Exports in 1986/87 at 1,350, vs 1,350 last month.  Exports\nin 1985/86 at 1,257, vs 1,257 last month.\n    Soybean Cake/Meal -- thousand short tons - Stocks, Sept 30,\n1987, at 270, vs 315 last month. Stocks, Sept 30, 1986, at 212,\nvs 212 last month.\n    Exports in 1986/87 season at 6,500, vs 6,350 last month. \nExports in 1985/86 at 6,036, vs 6,008 last month.\n Reuter\n&#3;',0
'U.S. CITRUS CROP ESTIMATE -- USDA The U.S. Agriculture Department\nestimated 1986/87 citrus production, as follows (in boxes) --\n    Total U.S. orange crop (excluding Florida Temples) --\n190,050,000 boxes, vs 190,850,000 boxes last month and\n176,410,000 boxes in the 1985/86 crop.\n    Florida oranges (excluding Temples) -- 122,900,000 boxes,\nvs 124,000,000 last month and 119,000,000 boxes in 1985/86.\n    Florida Temples -- 3,400,000 boxes, vs 3,400,000 last month\nand 2,950,000 boxes in 1985/86.\n    The department\'s estimates are based on April 1 crop\nconditions.\n Reuter\n&#3;',0
'USDA ORANGE JUICE YIELD ESTIMATE The U.S. Agriculture Department\nprojected an average yield of 1.50 gallons of frozen\nconcentrated orange juice per box (42.0 degree brix equivalent)\nfrom Florida\'s 1986/87 crop.\n    That compares with 1.47 gallons per box previously and 1.38\ngallons per box from the 1985/86 crop.\n    The crop reporting board said the estimates for the 1986/87\nseason are based on maturity and yields tests as of April 1.\n Reuter\n&#3;',0
'USSR ADDS U.S. CORN TO COMMITMENTS - USDA The Soviet Union has added 175,600\ntonnes of U.S. corn to its previous commitments for delivery in\nthe fourth year of the U.S.-USSR Grain Supply Agreement, which\nbegan October 1, 1986, the U.S. Agriculture Department said.\n    According to the department\'s Export Sales Report, covering\ntransactions in the week ended April 2, corn transactions\nconsisted of 140,600 tonnes of new sales and changes in\ndestinations for 35,000 tonnes.\n    Total corn commitments to the USSR  for delivery in the\nfourth agreement year amount to 2,825,600 tonnes. The Soviets\nhave not purchased wheat or soybeans in the fourth year of the\nagreement.\n Reuter\n&#3;',1
'USDA SPRING POTATO ESTIMATES The U.S. Agriculture Department\nestimated 1987 spring potato production, based on April 1\nconditions, at 19,267,000 cwts (100 lbs), vs 19,822,000 cwts\nindicated last year.\n    The department estimated spring potato area for harvest at\n79,100 acres, vs 76,700 acres estimated last month and 75,900\nacres harvested last year.\n    Spring potato yield per harvested acre is forecast at 244\ncwt per acre, vs 261 cwt per acre a year ago, USDA said.\n Reuter\n&#3;',0
'USDA REVISES 1986 SUMMER POTATOES The U.S. Agriculture Department made\nthe following revisions for 1986 crop summer potatoes --\n    Production -- 21,003,000 cwt (100 lbs), vs 20,900,000 cwt\nestimated previously.\n    Acreage for harvest -- 95,700 acres, vs 95,800 acres\nestimated previously.\n    Yield per harvested acre -- 219 cwt per acre, vs 218 cwt\nper acre previously estimated, the department said.\n Reuter\n&#3;',0
'USDA DETAILS FREE GRAIN STOCKS UNDER LOAN The U.S. Agriculture Department gave\nprojected carryover free stocks of feedgrains, corn and wheat\nunder loans, with comparisons, as follows, in mln bushels,\nexcept feedgrains, which is in mln tonnes --\n                1986/87            1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n Under Regular Nine Month Loan --\n      WHEAT    225     300       678     678\n FEEDGRAINS   52.1    68.1      75.7    75.7\n       CORN  1,800   2,400     2,589   2,589\n Special Producer Storage Loan Program --\n      WHEAT    165     150       163     163\n FEEDGRAINS    7.0     6.7       5.3     5.3\n       CORN    200     200       147     147\n Reuter\n&#3;',1
'CLEVITE &lt;CLEV> AMENDS RIGHTS PLAN Clevite Industries Inc, which\nearlier received a 96 mln dlr takeover offer from J.P.\nIndustries Inc &lt;JPI>, said it amended its Shareholder Rights\nPlan so that certain provisions of the plan cannot occur until\nthe board determines that it is in the best interests of the\ncompany and stockholders.\n    The plan, adopted in December 1986, permits Clevite to\nissue shares at half price to existing stockholders and allows\nstockholders to buy shares of an unfriendly bidder at half\nprice.\n    Clevite said the amendments by its board effectively mean\nthat the so-called flip-in and flip-over provisions of its\nrights plan can only be triggered by affirmative board\napproval.\n    The company said it acted inview of the proposed\nacquisition and because certain debt restrictions could block\nits ability to redeem the rights.\n Reuter\n&#3;',0
'USDA ESTIMATES SOVIET WHEAT, COARSE GRAINS The U.S. Agriculture Department\nforecast the Soviet 1986/87 wheat crop at 92.30 mln tonnes, vs\n92.30 mln tonnes last month. It put the 1985/86 crop at 78.10\nmln tonnes, vs 78.10 mln tonnes last month.\n    Soviet 1986/87 coarse grain production is estimated at\n103.30 mln tonnes, vs 103.30 mln tonnes last month. Production\nin 1985/86 is projected at 99.99 mln tonnes, vs 100.00 mln\ntonnes last month.\n    USSR wheat imports are forecast at 15.00 mln tonnes in\n1986/87, vs 15.00 mln tonnes last month. Imports in 1985/86 are\nput at 15.70 mln tonnes, vs 15.70 mln tonnes last month. USDA\nestimated Soviet 1986/87 coarse grain imports at 12.00 mln\ntonnes, vs 10.00 mln tonnes last month, and 1985/86 imports at\n13.70 mln tonnes, vs 13.70 mln tonnes last month.\n    USDA said Soviet coarse grain imports include 1986/87 corn\nimports, which it forecast at 8.00 mln tonnes, vs 6.00 mln\ntonnes last month. Corn imports in 1985/86 are estimated at\n10.40 mln tonnes, vs 10.40 mln last month.\n    Total Soviet grain imports in 1986/87, at 28.0 mln tonnes,\ninclude one mln tonnes of miscellaneous grains.\n Reuter\n&#3;',1
'WHEAT BY CLASS BREAKDOWN The U.S. Agriculture Department gave\nthe 1986/87 breakdown of supply and distribution for wheats by\nclasses, in mln bushels, with comparisons, as follows.\n    HARD WINTER --\n                1986/87           1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n Start Stocks 1,009   1,009      717     717\n Production   1,018   1,018    1,230   1,230\n Ttl Supply-X 2,027   2,027    1,947   1,947\n Domestic Use   599     579      543     543\n Exports        450     475      395     395\n Total Use    1,049   1,054      938     938\n End Stocks     978     973    1,009   1,009\n Note - Season begins June 1. X-Includes imports\n    HARD SPRING --\n                1986/87           1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n Start Stocks   498     498      371     371\n Production     451     451      460     460\n Ttl Supply-X   956     956      838     838\n Domestic Use   218     192      174     174\n Exports        200     190      166     166\n Total Use      418     382      340     340\n End Stocks     538     574      498     498\n Note - Season begins June 1. X-Includes imports.\n    SOFT RED --\n               1986/87           1985/86\n          04/09/87 03/09/87  04/09/87 03/09/87\n Start Stocks   79     79       64     64\n Production    290    290      368    368\n Ttl Supply-X  369    369      432    432\n Domestic Use  181    193      204    204\n Exports       120    120      149    149\n Total Use     301    313      353    353\n End Stocks     68     56       79     79\n Note - Season begins June 1. X-Includes imports\n    WHITE --\n               1986/87           1985/86\n          04/09/87 03/09/87  04/09/87 03/09/87\n Start Stocks  198    198      173    173\n Production    232    232      254    254\n Ttl Supply-X  433    433      430    430\n Domestic Use   82     83       80     80\n Exports       170    160      152    152\n Total Use     252    243      232    232\n End Stocks    181    190      198    198\n Note - Season begins June 1. X-Includes imports.\n    DURUM --\n                1986/87            1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n Start Stocks   121    121      100    100\n Production      95     95      113    113\n Ttl Supply-X   221    221      218    218\n Domestic Use    54     58       44     44\n Exports         85     80       53     53\n Total Use      139    138       97     97\n End Stocks      82     83      121    121\n Note - Season begins June 1. X-Includes Imports.\n\n Reuter\n&#3;',0
'USDA FORECASTS BRAZIL/ARGENTINE SOYBEAN CROPS The U.S. Agriculture Department\nforecast Brazil\'s 1986/87 soybean crop at 17.00 mln tonnes, vs\n17.00 estimated last month. It put the 1985/86 crop at 13.90\nmln tonnes, vs 13.70 mln last month.\n    The department forecast Argentina\'s 1986/87 soybean crop at\n7.70 mln tonnes, vs 7.70 mln last month. It projected the\n1985/86 crop at 7.30 mln tonnes, vs 7.30 mln last month.\n    Brazil\'s 1986/87 soybean exports were forecast at 2.50 mln\ntonnes, vs 2.50 mln tonnes estimated last month. USDA projected\n1985/86 exports at 1.20 mln tonnes, vs 1.20 mln last month.\n Reuter\n&#3;',0
'USDA ESTIMATES ARGENTINE COARSE GRAIN, WHEAT The U.S. Agriculture Department\nforecast Argentina\'s 1986/87 coarse grain crop at 13.99 mln\ntonnes, vs 15.44 mln tonnes last month. It estimated the\n1985/86 crop at 17.06 mln tonnes, vs 17.14 mln last month.\n    USDA forecast Argentina\'s 1986/87 wheat crop at 9.00 mln\ntonnes, vs 9.00 mln tonnes last month, while the 1985/86 crop\nwas projected at 8.50 mln tonnes, vs 8.50 mln last month.\n    USDA forecast Argentine 1986/87 coarse grain exports at\n6.60 mln tonnes, vs 7.73 mln tonnes last month, and projected\n1985/86 exports at 9.43 mln tonnes, vs 9.58 mln last month.\n Reuter\n&#3;',0
'STOP AND SHOP COS IN 2-FOR-1 SPLIT, HIKES DIVIDEND\n ',0
'USDA ESTIMATES AUSTRALIA WHEAT CROP The U.S. Agriculture Department\nforecast Australia\'s 1986/87 wheat crop at 16.70 mln tonnes, vs\n17.30 mln tonnes last month. It estimated 1985/86 output at\n16.13 mln tonnes, vs 16.13 mln last month.\n    Australian wheat exports in 1986/87 are forecast at 14.50\nmln tonnes, vs 14.50 mln tonnes last month, while exports in\n1985/86 are estimated at 15.96 mln tonnes, vs 15.96 mln last\nmonth.\n Reuter\n&#3;',0
'USDA ESTIMATES CHINA WHEAT The U.S. Agriculture Department\nprojected China\'s 1986/87 wheat crop at 90.30 mln tonnes, vs\n88.50 mln tonnes last month. It estimated the 1985/86 crop at\n85.81 mln tonnes, vs 85.81 mln last month.\n    USDA projected China\'s 1986/87 wheat imports at 7.00 mln\ntonnes, vs 7.00 mln tonnes last month, and estimated 1985/86\nimports at 6.60 mln tonnes, vs 6.60 mln last month.\n Reuter\n&#3;',0
'USDA ESTIMATES CANADIAN CROPS The U.S. Agriculture Department\nestimated Canada\'s 1986/87 wheat crop at 31.85 mln tonnes, vs\n31.85 mln tonnes last month. It estimated 1985/86 output at\n24.25 mln tonnes, vs 24.25 mln last month.\n    Canadian 1986/87 coarse grain production is projected at\n27.62 mln tonnes, vs 27.62 mln tonnes last month. Production in\n1985/86 is estimated at 24.95 mln tonnes, vs 24.95 mln last\nmonth.\n    Canadian wheat exports in 1986/87 are forecast at 19.00 mln\ntonnes, vs 19.00 mln tonnes last month. Exports in 1985/86 are\nestimated at 17.72 mln tonnes, vs 17.71 mln last month.\n Reuter\n&#3;',0
'NET CHANGE IN EXPORT COMMITMENTS -- USDA The U.S. Agriculture Department gave\nthe net change in export commitments, including sales,\ncancellations, foreign purchases and cumulative exports, in the\ncurrent seasons through the week ended April 2, with\ncomparisons, as follows, in tonnes, except as noted --\n                        4/2/87   Prev Week\n            All Wheat   119,800    368,300\n                 Corn 1,001,900    927,000\n             Soybeans   240,500    300,900\n         Soy Cake/Meal  117,700    170,200\n          Soybean Oil     2,400-x    8,100\n            Cotton-Y     60,200     31,900\n   x-minus total. Y-running bales.\n    The indicated totals include reported commitments to both\nnamed and unnamed destinations, sales on exporters\' own account\nand optional origin sales plus actual exports already made\nduring the respective marketing seasons.\n    The USDA cautions that reported outstanding sales are\nsubject to modification, deferral or cancellation and it is\nunlikely that all reported quantities will be exported.\n    USDA gave detailed breakdowns for the 1986/87 and 1987/88\nseasons as follows, in thousand tonnes unless stated --\n (A) - Firm sales to a declared destination.\n (B) - Ultimate destination not yet declared.\n (C) - Sales made on exporters\' own account.\n (D) - Exporter holds option to fill commitment with supplies \nfrom origins other than U.S.\n (E) - Accumulated exports since season began based on data \nreported by exporters.\n (F) - Indicated total for season.\n (G) - USDA-projected exports for season.\n Note -- Totals may not add due to rounding.\n     ALL WHEAT\n                1986/87             1987/88\n             4/2/87   Prev Wk  4/3/87 Prev Wk\n Named-A    3,157.6   3,684.1 1,591.4 1,635.6\n Unnamed-B    143.8     144.3    87.1    57.1\n E.O.A.-C       9.5       9.5     nil     nil\n O.O.P.-D       nil       nil     nil     nil\n Gr Total   3,310.9   3,837.9 1,679.0 1,692.7\n Ay Expd-E 21,044.6  20,433.4\n Ind Ttl-F 24,355.5  24,271.3\n USDAPRJ-G 27,900.0  27,900.0\n    SOYBEANS\n                 1986/87            1987/88\n             4/2/87   Prev Wk   4/2/87  Prev Wk\n Named-A    1,774.7  1,780.3     215.9   215.9\n Unnamed-B    500.3    524.8       nil    30.0\n E.O.A.-C      18.4     18.4       nil     nil\n O.O.P.-D       nil      nil       nil     nil\n Gr Total   2,293.4  2,323.5     215.9   245.9\n Ay Expd-E 14,334.2 14,183.2\n Ind Ttl-F 16,627.6 16,506.7\n USDAPRJ-G 19,050.0 19,050.0\n    CORN\n                1986/87             1987/88\n            4/2/87    Prev Wk    4/2/87 Prev WK\n Named-A    8,559.8   8,684.8    772.1   268.8\n Unnamed-B    945.7     920.1      nil     nil\n E.O.A-C       90.8      66.9      nil     nil\n O.O.P-D      138.0     175.0      nil     nil\n Gr Total   9,734.3   9,846.9    772.1   268.8\n Ay Expd-E 20,296.0  19,293.8\n Ind Ttl-F 30,030.3  29,140.7\n USDAPRJ-G 31,750.0  31,750.0\n    SORGHUM\n                1986/87            1987/88\n             4/2/87  Prev Wk    4/2/87 Prev WK\n Named-A      875.6    805.1     nil      nil\n Unnamed-B    151.2    151.2     10.2-x   nil\n E.O.A-C        nil      nil     nil      nil\n O.O.P-D      114.5    138.3     nil      nil\n Gr Total   1,141.3  1,094.6     10.2-x   nil\n Ay Expd-E  3,222.5  3,149.7\n Ind Ttl-F  4,363.8  4,244.3\n USDAPRJ-G  5,720.0  5,720.0\n x-minus total \n    WHEAT PRODUCTS\n               1986/87            1987/88\n            4/2/87  Prev Wk   4/2/87   Prev Wk\n Named-A     321.0   401.9       nil    nil\n Unnamed-B     nil     nil       nil    nil\n E.O.A.-C      nil     nil       nil    nil\n O.O.P.-D      nil     nil       nil    nil\n Gr Total    321.0   401.9       nil    nil\n Ay Expd-E   926.9   840.9\n Ind Ttl-F 1,348.2 1,242.8\n  Note - Includes bulgur, semolina, farina, rolled, cracked and\ncrushed wheat.\n    SOYBEAN OIL\n               1986/87           1987/88\n           4/2/87  Prev Wk    4/2/87  Prev Wk\n Named-A      8.8    10.4      nil     nil\n Unnamed-B    7.0    10.5      nil     nil\n E.O.A-C      nil     nil      nil     nil\n O.O.P-D      nil     nil      nil     nil\n Gr Total    15.8    20.9      nil     nil\n Ay Expd-E  138.4   135.8\n Ind Ttl-F  154.2   156.7\n USDAPRJ-G  610.0   610.0\n    SOYBEAN CAKE AND MEAL\n                1986/87             1987/88\n             4/2/87  Prev Wk    4/2/87 Prev Wk\n Named-A      788.0    869.7    50.7      48.4\n Unnamed-B     76.0     94.0     nil       nil\n E.O.A-C        2.7      6.1     nil       nil\n O.O.P-D        nil      nil     nil       nil\n Gr Total     866.7    969.8    50.7      48.4\n Ay Expd-E  4,098.0  3,880.6\n Ind Ttl-F  4,964.7  4,850.4\n USDAPRJ-G  5,760.0  5,760.0\n     COTTONSEED OIL\n               1986/87            1987/88\n            4/2/87  Prev Wk   4/2/87   Prev Wk\n Named-A      7.4     7.2       nil     nil\n Unnamed-B    0.3     0.3       nil     nil\n E.O.A.-C     nil     nil       nil     nil\n O.O.P.-D     7.8     7.8       nil     nil\n Gr Total    15.4    15.2       nil     nil\n    ALL UPLAND DOMESTIC RAW COTTON-Y\n                1986/87            1987/88\n            4/2/87    Prev Wk   4/2/87  Prev Wk\n Named-A    2,007.9  2,076.1     468.2   457.2\n Unnamed-B     20.3     20.2       nil     nil\n E.O.A-C        nil      nil       nil     nil\n O.O.P-C        nil      nil       nil     nil\n Gr Total   2,028.2  2,096.3     468.2   457.2\n Ay Expd-E  4,333.1  4,204.7\n Ind Ttl-F  6,361.3  6,301.0\n USDAPRJ-G  6,335.0  6,335.0\n  Y-In thousand running bales.\n    BARLEY\n                 1986/87            1987/88\n            4/2/87   Prev Wk     4/2/87 Prev Wk\n Named-A      559.5    584.5      nil      nil\n Unnamed-B     12.7     12.7      nil      nil\n E.O.A.-C       nil      nil      nil      nil\n O.O.P.-D      25.0     25.0      nil      nil\n Gr Total     597.1    622.1      nil      nil\n Ay Expt-E  2,464.6  2,440.7\n Ind Ttl-F  3,061.7  3,062.8\n USDAPRJ-G  3,270.0  3,270.0\n    OATS\n             1986/87            1987/88\n           4/2/87 Prev Wk    4/2/87  Prev Wk\n Named-A     nil    nil       nil    nil\n Unnamed-B   nil    nil       nil    nil\n E.O.A.-C    nil    nil       nil    nil\n O.O.P.-D    nil    nil       nil    nil\n Gr Total    nil    nil       nil    nil\n Ay Expd-E   2.4    2.4\n Ind Ttl-F   2.4    2.4\n USDAPRJ-G  30.0   30.0\n    RICE\n                1986/87            1987/88\n            4/2/87   Prev Wk    4/2/87  Prev Wk\n Named-A      347.6    369.1      nil     nil\n Unnamed-B      1.0      1.0      nil     nil\n E.O.A-C        nil      nil      nil     nil\n O.O.P-D        nil      nil      nil     nil\n Gr Total     348.6    370.1      nil     nil\n Ay Expd-E  1,718.8  1,688.2\n Ind Ttl-F  2,067.4  2,058.3\n USDAPRJ-G  2,580.0  2,580.0\n    HARD RED WINTER WHEAT\n               1986/87            1987/88\n           4/2/87   Prev Wk     4/2/87  Prev Wk\n Named-A   1,738.0  2,019.7     893.0   943.0\n Unnamed-B    80.5     70.5     107.6    77.2\n E.O.A.-C      nil      nil       nil     nil\n O.O.P.-D      nil      nil       nil     nil\n Gr Total  1,818.5  2,090.2   1,000.6 1,020.2\n Ay Exp-E  8,332.1  7,974.5\n Ind Tl-F 10,150.6 10,064.8\n    WHITE WHEAT\n               1986/87            1987/88\n            4/2/87  Prev Wk    4/2/87   Prev Wk\n Named-A     548.5    635.6     58.0    58.0\n Unnamed-B    19.0-x   19.0-x    6.0-x   6.0-x\n E.O.A.-C      nil      nil      nil     nil\n O.O.P.-D      nil      nil      nil     nil\n Gr Total    529.5    616.6     52.0    52.0\n Ay Exp-E  3,831.5  3,757.7\n Ind Tl-F  4,361.0  4,374.3\n  x - denotes minus figure\n    HARD RED SPRING WHEAT\n              1986/87             1987/88\n          4/2/87   Prev Wk    4/2/87   Prev Wk\n Named-A    576.6    620.6    164.7   164.7\n Unnamed-B   29.6     16.0      nil     nil\n E.O.A.-C     0.9      0.9      nil     nil\n O.O.P.-D     nil      nil      nil     nil\n Gr Total   607.1    637.5    164.7   164.7\n Ay Exp-E 4,312.4  4,247.6\n Ind Tl-F 4,919.5  4,885.1\n     DURUM WHEAT\n              1986/87              1987/88\n           4/2/87   Prev Wk    4/2/87  Prev Wk\n Named-A    166.6    280.3      93.4   93.4\n Unnamed-B   52.8     76.9       nil    nil\n E.O.A.-C     2.8      2.8       nil    nil\n O.O.P.-D     nil      nil       nil    nil\n Gr Total   222.2    360.0      93.4   93.4\n Ay Exp-E 1,842.6  1,727.5\n Ind Tl-F 2,064.8  2,087.5\n    SOFT RED WINTER WHEAT\n               1986/87             1987/88\n            4/2/87  Prev Wk     4/2/87  Prev Wk\n Named-A     127.8    127.8    382.3   376.5\n Unnamed-B     nil      nil     14.0-x  14.0-x\n E.O.A.-C      5.8      5.8      nil     nil\n O.O.P.-D      nil      nil      nil     nil\n Gr Total    133.6    133.6    368.3   362.5\n Ay Exp-E  2,726.0  2,726.0\n Ind Tl-F  2,859.6  2,859.6\n x-minus figure\n    Country and destinations of the identified sales of\ncommodities reported by exporters in week ended April 2 for\nthe respective marketing seasons were detailed by the USDA as\nfollows, with comparisons for the previous week, in thousands\nof tonnes, except where noted-- \n ALL WHEAT  \n               1986/87             1987/88\n             4/2/87  Prev Wk   4/2/87   Prev Wk\n E.C.          nil     nil      50.0    50.0\n Other West\n Europe      218.8   236.8       nil     nil\n East Europe 261.0   346.0      25.0    25.0\n    ALL WHEAT Continued\n                 1986/87            1987/88\n             4/2/87  Prev Wk    4/2/87  Prev Wk\n USSR           nil      nil      nil     nil\n Japan        490.4    662.2      nil     nil\n China         90.0     90.0    910.0   910.0\n Taiwan       115.0    141.0    144.0   144.0\n Other Asia and\n Oceania      654.9    730.9     28.6    78.6\n Africa       959.5  1,115.0    167.1   167.1\n Western\n Hemisphere   367.9    362.1    266.7   260.9\n SOYBEANS        1986/87            1987/88\n            4/2/87   Prev Wk   4/2/87   Prev Wk\n E.C.        302.2     317.7    91.4     91.4\n Other West\n Europe       25.0      25.0     nil      nil\n East Europe 101.0     101.0     nil      nil\n Japan       355.4     330.5     nil      nil\n China         nil       nil     nil      nil\n Taiwan      472.0     499.0    87.0     87.0\n Other Asia and\n Oceania     164.6     187.7     nil      nil\n Africa        nil       nil     nil      nil\n Western\n Hemisphere  354.4     391.5     37.5    37.5\n    SOYBEAN OIL\n             1986/87           1987/88\n          4/2/87  Prev Wk    4/2/87  Prev Wk\n E.C.        1.5     1.5      nil     nil\n India       nil     nil      nil     nil\n Other Asia and\n Oceania     nil     nil      nil     nil\n Africa      nil     nil      nil     nil\n Western\n Hemisphere  7.3     8.9      nil     nil\n    SOYBEAN CAKE/MEAL\n                 1986/87            1987/88\n            4/2/87   Prev Wk   4/2/87   Prev Wk\n E.C.        301.7   350.7     47.2   45.0\n Other West\n Europe        nil     nil      nil    nil\n East Europe   nil    36.0      nil    nil\n Japan         nil     3.5      nil    nil\n Other Asia and\n Oceania      25.0    40.0      nil    nil\n Africa       30.2    38.0      nil    nil\n Western\n Hemisphere  431.0   401.5      3.4    3.4\n    CORN         1986/87            1987/88\n              4/2/87   Prev Wk   4/2/87  Prev Wk\n E.C.           82.5     22.5       0.2     0.2\n Other West\n Europe          nil      0.8       nil     nil\n E. Europe      94.0     50.0      50.0    50.0\n USSR        2,432.7  2,543.8       nil     nil\n Japan       2,767.4  2,787.8      52.4    21.0\n China         495.0    555.0       nil     nil\n Taiwan        791.0    836.0     390.0   170.0\n Other Asia and\n Oceania       721.7    615.2     250.0     nil\n Africa        125.0    195.5       nil     nil\n WestHem     1,050.5  1,114.0      29.4    27.6\n    UPLAND COTTON (In thousand bales)\n               1986/87             1987/88\n            4/2/87  Prev Wk     4/2/87 Prev Wk\n E.C.        260.9    266.1     97.9    95.0\n Other West\n Europe       62.2     66.2      8.7     8.7\n E. Europe     3.1      3.1      nil     nil\n Japan       445.8    484.1     72.3    70.1\n Taiwan      377.9    390.4     41.6    39.5\n Other Asia and\n Oceania     741.7    783.4    244.5   241.1\n Africa       16.7     13.4      nil     nil\n Western\n Hemisphere   99.6     69.5      3.2     2.7\n Reuter\n&#3;',1
'HOUSE PANEL WANTS PENTAGON MANAGE U.S. STOCKPILE The House Armed Services Committee\nhas voted for a transfer in the management of stockpiled\nmaterials for national defense to the U.S. Defense Secretary.\n    The committee also voted for legally-binding quantity and\nquality requirements on the materials, mostly metals.\n    The measures are a part of the Defense Authorization Bill\nwhich will be voted on in the House next month.\n    The purpose of the measures, passed by the committee\nyesterday, is to improve stockpile management and discourage\nsell-offs of materials that could jeopardize strategic needs, a\nstaff member of the committee told Reuters.\n    \"They (the stockpiles) stand to gain the most by being\nmanaged properly,\" said the staffer. \"Management of the stockpile\nover the last 10 years has been atrocious.\"\n    Responsibility for stockpile management now belongs to a\nWhite House agency, the Federal Emergency Management Agency.\n    The staffer said that under the measures passed by the\ncommittee the Secretary of Defense would have more influence\nover decisions to keep or sell strategic stockpile materials.\n    The administration has proposed a goal of 700 million dlrs\nworth of strategic materials to be held in the stockpile. The\nstockpile now contains around 10 billion dlrs of materials.\n    He said several agencies currently helped FEMA to manage\nthe stockpile and decide how much to sell to help the deficit.\n    These agencies included the Office of Management and Budget\nand the Departments of Interior and Commerce, he said.\n    The committee believed the shared involvement in stockpile\nmanagement was counter-productive, he said.\n Reuter\n&#3;',0
'USDA ESTIMATES EUROPEAN COMMUNITY CROPS The U.S. Agriculture Department\nforecast the European Community\'s 1986/87 wheat crop at 71.60\nmln tonnes, vs 71.50 mln tonnes last month. It estimated\n1985/86 output at 71.70 mln tonnes, vs 71.71 mln last month.\n    E.C. 1986/87 coarse grain production is projected at 81.22\nmln tonnes, vs 81.19 mln tonnes last month. The 1985/86 crop is\nestimated at 88.21 mln tonnes, vs 88.28 mln last month.\n    E.C. wheat exports in 1986/87 are forecast at 28.22 mln\ntonnes, vs 28.31 mln tonnes last month. Exports in 1985/86 are\nestimated at 27.77 mln tonnes, vs 27.62 last month.\n Reuter\n&#3;',0
'U.S. SUPPLY/DEMAND DETAILED BY USDA The U.S. Agriculture Department made\nthe following supply/demand projections for the 1986/87\nseasons, in mln bushels, with comparisons, unless noted --\n    CORN --     1986/87            1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n Acreage (mln acres) --\n     Planted   76.7    76.7     83.4    83.4\n   Harvested   69.2    69.2     75.2    75.2\n  Yield (bu)  119.3   119.3    118.0   118.0\n Supply (mln bu) -- \n Start Stock  4,040   4,040    1,648   1,648\n  Production  8,253   8,253    8,877   8,877\n     Total-X 12,295  12,295   10,536  10,536\n  X-Includes imports.\n    CORN (cont.)\n                 1986/87           1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n Usage: Feed  4,500    4,300     4,095    4,126\n       Other  1,180    1,150     1,160    1,129\n  Ttl Domest  5,680    5,450     5,255    5,255\n     Exports  1,375    1,250     1,241    1,241\n   Total Use  7,055    6,700     6,496    6,496\n  End Stocks  5,240    5,595     4,040    4,040\n Farmer Reser 1,400    1,300       564      564\n  CCC Stocks  1,700    1,500       546      546\n Free Stocks  2,140    2,795     2,930    2,930\n  AvgPrice  1.35-1.65  1.35-1.65  2.23     2.23\n  Note - Price in dlrs per bu. Corn season begins Sept 1.\n    ALL WHEAT -\n                1986/87            1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n Acreage (mln acres) --\n     Planted   72.0    72.0     75.6    75.6\n   Harvested   60.7    60.7     64.7    64.7\n       Yield   34.4    34.4     37.5    37.5\n Supply (mln bu) --\n Start Stcks  1,905   1,905    1,425   1,425\n  Production  2,087   2,087    2,425   2,425\n       Total\n    Supply-X  4,007   4,007    3,865   3,865\n X - Includes imports.\n    ALL WHEAT   1986/87            1985/86\n (cont.)   04/09/87 03/09/87  04/09/87 03/09/87\n Usage: Food    700    690       678    678\n        Seed     84     90        93     93\n        Feed    350    325       274    274\n  Ttl Domest  1,134  1,105     1,045  1,045\n     Exports  1,025  1,025       915    915\n   Total Use  2,159  2,130     1,960  1,960\n  End Stocks  1,848  1,877     1,905  1,905\n Farmer Reser   475    450       433    433\n  CCC Stocks    950    950       602    602\n Free Stocks    423    477       870    870\n  Avg Price  2.30-40  2.30-40   3.08   3.08\n Note - Price in dlrs per bushel. Wheat season begins June 1.\n    SOYBEANS -\n                1986/87            1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n Acreage (mln acres) --\n      Planted   61.5   61.5     63.1   61.1\n    Harvested   59.4   59.4     61.6   61.6\n   Yield (bu)   33.8   33.8     34.1   34.1\n Supply (mln bu) --\n Start Stocks    536    536      316    316\n   Production  2,007  2,007    2,099  2,099\n        Total  2,543  2,543    2,415  2,415\n    SOYBEANS (cont.)\n               1986/87             1985/86\n          04/09/87 03/09/87   04/09/87 03/09/87\n      Usage --\n  Crushings  1,130   1,115      1,053   1,053\n    Exports    700     700        740     740\n Seed, Feed and\n   Residual    103      93         86      86\n  Total Use  1,933   1,908      1,879   1,879\n End Stocks    610     635        536     536\n Avg Price 4.60-4.80 4.60-4.80   5.05    5.05\n Note - Average price in dlrs per bushel. Soybean season begins\nJune 1.\n    FEEDGRAINS - X\n                1986/87            1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n Acreage (mln acres) --\n      Planted  119.8   119.8     128.1   128.1\n    Harvested  102.0   102.0     111.8   111.8\n Yld (tonnes)   2.48    2.48      2.45    2.45\n Supply (mln tonnes) --\n Start Stocks  126.4   126.4      57.5    57.5\n   Production  252.4   252.4     274.4   274.4\n      Imports    0.6     0.6       0.9     0.9\n        Total  379.4   379.4     332.7   332.7\n X - Includes corn, sorghum, barley, oats.\n    FEEDGRAINS - X (cont.)\n                 1986/87          1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n Usage: Feed  140.6   136.2     134.8   135.5\n       Other   35.8    35.0      35.0    34.3\n  Ttl Domest  176.4   171.2     169.8   169.8\n     Exports   43.9    40.8      36.6    36.6\n   Total Use  220.3   211.9     206.4   206.4\n  End Stocks  159.1   167.5     126.4   126.4\n Farmer Reser  39.0    36.5      16.6    16.6\n  CCC Stocks   55.2    49.5      20.4    20.4\n Free Stocks   64.8    81.5      89.3    89.3\n X - Includes corn, sorghum, oats, barley. Seasons for oats,\nbarley began June 1, corn and sorghum Sept 1.\n    SOYBEAN OIL -\n                1986/87            1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n Supply (mln lbs) --\n Start Stcks     947     947       632     632\n  Production  12,263  12,103    11,617  11,617\n     Imports     Nil     Nil         8       8\n       Total  13,210  13,050    12,257  12,257\n Note - 1985/86 production estimates based on October year\ncrush of 1,060 mln bushels.\n    SOYBEAN OIL (cont.) -\n               1986/87             1985/86\n          04/09/87  03/09/87  04/09/87  03/09/87\n Usage (mln lbs) --\n  Domestic  10,500    10,500    10,053   10,053\n   Exports   1,350     1,350     1,257    1,257\n     Total  11,850    11,850    11,310   11,310\n End Stcks   1,360     1,200       947      947\n AvgPrice  14.5-16.0  15.0-17.0  18.00    18.00\n Note - Average price in cents per lb. Season for soybean oil\nbegins Oct 1.\n    SOYBEAN CAKE/MEAL, in thousand short tons --\n                1986/87            1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n Start Stcks     212     212       387     387\n  Production  26,558  26,203    24,951  24,951\n       Total  26,770  26,415    25,338  25,338\n Note - 1985/86 production estimates based on October year\ncrush of 1,060 mln bushels.\n    SOY CAKE/MEAL (cont.) -\n               1986/87            1985/86\n          04/09/87 03/09/87  04/09/87 03/09/87\n Usage (thous short tons) --\n  Domestic   20,000  19,750    19,090  19,118\n   Exports    6,500   6,350     6,036   6,008\n     Total   26,500  26,100    25,126  25,126\n End Stcks      270     315       212     212\n  AvgPrice  145-150  145-150   154.90  154.90\n  Note - Price in dlrs per short ton. Season for soybean cake\nand meal begins Oct 1.\n    COTTON --\n                1986/87            1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n Area (mln acres) --\n      Planted  10.06   10.06     10.68   10.68\n    Harvested   8.49    8.49     10.23   10.23\n  Yield (lbs)    549     553       630     630\n Supply (mln 480-lb bales) --\n Start Stks-X   9.35    9.35      4.10    4.10\n   Production   9.70    9.79     13.43   13.43\n Ttl Supply-Y  19.06   19.14     17.57   17.57\n  X - Based on Census Bureau data. Y - Includes imports.\n    COTTON (cont.) -\n               1986/87           1985/86\n          04/09/87 03/09/87  04/09/87 03/09/87\n   Usage --\n   Domestic   7.10    7.01     6.40    6.40\n    Exports   6.66    6.76     1.96    1.96\n      Total  13.76   13.77     8.36    8.36\n End Stocks   5.40    5.49     9.35    9.35\n Avge Price  51.7-X  51.7-X   56.50   56.50\n X - 1986/87 price is weighted average for first five months of\nmarketing year, not a projection for 1986/87. Average price in\ncents per lb. Cotton season begins August 1.\n    RICE\n               1986/87            1985/86\n          04/09/87 03/09/87  04/09/87 03/09/87\n Acreage (mln acres) --\n     Planted   2.40    2.40      2.51    2.51\n   Harvested   2.38    2.38      2.49    2.49\n Yield (lbs)  5,648   5,648     5,414   5,414\n Supply (mln cwts) --\n Start Stcks   77.3    77.3      64.7    64.7\n  Production  134.4   134.4     134.9   134.9\n     Imports    2.2     2.2       2.2     2.2\n       Total  213.9   213.9     201.8   201.8\n    RICE (cont.)\n                1986/87            1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n Usage (mln cwts) --\n    Domestic   67.0    67.0      65.8    65.8\n     Exports   80.0    80.0      58.7    58.7\n     Total-Y  147.0   147.0     124.5   124.5\n  End Stocks   66.9    66.9      77.3    77.3\n  CCC Stocks   42.9    42.9      41.5    41.5\n Free Stocks   24.0    24.0      35.8    35.8\n   AvgPrice 3.45-4.25 3.45-4.25  6.53    6.53\n Note - Average price in dlrs per CWT. Y-Rough equivalent.\nN.A.-Not Available, USDA revising price definition due to\nmarketing loan. Rice season begins August 1.\n    SORGHUM\n               1986/87            1985/86\n          04/09/87 03/09/87  04/09/87 03/09/87\n  Yield (bu)  67.7    67.7     66.8    66.8\n Supply (mln bu) --\n Start Stcks   551     551      300     300\n  Production   942     942    1,120   1,120\n       Total 1,493   1,493    1,420   1,420\n  Usage (mln bu) --\n        Feed   550     575      662     662\n       Other    30      30       29      29\n  Ttl Domest   580     605      691     691\n    SORGHUM (cont.) -\n                1986/87            1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n    Exports     225     225       178     178\n  Total Use     805     830       869     869\n End Stocks     688     663       551     551\n Avge Price  1.30-50  1.30-50    1.93    1.93\n Note - Price in dlrs per bushel. Sorghum season begins Sept 1.\n    BARLEY\n                1986/87            1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n   Yield (bu)  50.8    50.8      51.0    51.0\n Start Stocks   325     325       247     247\n   Production   610     610       591     591\n      Imports     5       5         9       9\n        Total   941     941       847     847\n    BARLEY (cont.)\n             1986/87            1985/86\n        04/09/87 03/15/87  04/09/87 03/15/87\n Usage (mln bu) --\n       Feed  300    300       333    333\n      Other  175    175       167    167\n Ttl Domest  475    475       500    500\n    Exports  150    150        22     22\n  Total Use  625    625       522    522\n End Stocks  316    316       325    325\n  AvgPrice 1.45-65  1.45-65  1.98   1.98\n Note - Average price in dlrs per bushel. Barley season begins\nJune 1.\n    OATS - in mln bushels\n               1986/87            1985/86\n          04/09/87 03/09/87  04/09/87 03/09/87\n  Yield (bu)  56.0   56.0      63.7   63.7\n Start Stcks   184    184       180    180\n  Production   385    385       521    521\n     Imports    30     30        28     28\n       Total   598    598       729    729\n    OATS, in mln bushels (cont.)\n              1986/87             1985/86\n         04/09/87 03/09/87   04/09/87 03/09/87\n     Usage --\n      Feed   400     400       460     460\n     Other    85      85        83      83\n Ttl Domes   485     485       543     543\n   Exports     2       2         2       2\n     Total   487     487       545     545\n End Stcks   111     111       184     184\n AvgPrice 1.00-20  1.00-20    1.23    1.23\n  Note - Average price in dlrs per bushel. Oats season begins\nJune 1.\n    LONG GRAIN RICE, in mln CWTs (100 lbs) --\n                1986/87            1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n   Harvested --\n Acres (mln)   1.83    1.83     1.94    1.94\n Yield (lbs)  5,358   5,358    5,168   5,168\n  Start Stks   49.3    49.3     37.7    37.7\n  Production   97.8    97.8    100.4   100.4\n  Ttl Supply  148.6   148.6    140.1   140.1\n Note -- Starting Stocks does not include broken kernels --\nSupply minus use does not equal ending stocks in breakdowns.\nTotal Supply includes imports but not broken kernels.\n    LONG GRAIN RICE, in mln CWTs (100 lbs), cont. --\n                 1986/87           1985/86\n            04/09/87 03/09/87 04/09/87 03/09/87\n Domestic Use   43.0    43.0      48.8    48.8\n      Exports   65.0    60.0      42.0    42.0\n    Total Use  108.0   103.0      90.8    90.8\n End Stocks-X   40.6    45.6      49.3    49.3\n    AvgPric 3.45-4.25 3.45-4.24   6.86    6.86\n Note - Average price in dlrs per cwt. X-Broken kernels not\nincluded -- supply minus use does not equal ending stocks in\nbreakdowns. Rice season begins August 1.\n    MEDIUM, SHORT GRAIN RICE - in mln CWTs (100 lbs) --\n                1986/87            1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n   Harvested --\n Acres (mln)   0.55    0.55     0.55    0.55\n Yield (lbs)  6,651   6,651    6,258   6,258\n  Start Stks   26.7    26.7     25.7    25.7\n  Production   36.6    36.6     34.5    34.5\n  Ttl Supply   65.3    65.3     61.7    61.7\n Note -- Starting Stocks does not include broken kernels --\nSupply minus use does not equal ending stocks in breakdowns.\nTotal Supply includes imports but not broken kernels.\n    MEDIUM, SHORT GRAIN RICE, in mln CWTs (100 lbs), cont. --\n                 1986/87          1985/86\n            04/09/87 03/09/87 04/09/87 03/09/87\n Domestic Use   24.0    24.0      17.0    17.0\n      Exports   15.0    20.0      16.7    16.7\n    Total Use   39.0    44.0      33.7    33.7\n End Stocks-X   24.5    19.5      26.7    26.7\n    AvgPric 3.45-4.25  3.45-4.25  5.91    5.91\n Note - Average price in dlrs per CWT. X-Broken kernels not\nincluded - supply minus use does not equal ending stocks in\nbreakdowns. Rice season begins August 1.\n    NOTES ON U.S. SUPPLY/DEMAND TABLES\n    -- N.A. - Not available.\n    -- Totals may not add due to rounding.\n    -- Figures for 1986/87 are midpoint of USDA range.\n    -- Feed usage for corn, wheat, soybean, feedgrains,\nsorghum, barley, oats includes residual amount.\n    -- Residual amount included in rice and medium/short grain\nrice domestic usage.\n    -- Rice, long grain, and medium/short grain rice average\nprice for 1985/86 estimates and 1986/87 projections are market\nprices and exclude cash retained under the marketing loan since\nApril, 1986.\n Reuter\n&#3;',1
'USDA ESTIMATES USSR COTTON CROP The U.S. Agriculture Department\nforecast the Soviet 1986/87 cotton crop at 11.20 mln bales\n(480-lbs net), vs 11.20 mln bales forecast last month.\n    The department also estimated the 1985/86 Soviet cotton\ncrop at 12.10 mln bales, vs 12.10 mln bales last month.\n Reuter\n&#3;',0
'USDA ESTIMATES SOUTH AFRICA CORN CROP, EXPORTS The U.S. Agriculture Department\nforecast South Africa\'s 1986/87 corn crop at 8.50 mln tonnes,\nvs 9.50 mln tonnes last month. It estimated the 1985/86 crop at\n8.08 mln, vs 8.08 mln last month.\n    USDA forecast South African 1986/87 corn exports at 2.10\nmln tonnes, vs 3.00 mln tonnes last month, and 1985/86 exports\nat 2.75 mln tonnes, vs 2.75 mln tonnes last month.\n Reuter\n&#3;',1
'STOP AND SHOP COS &lt;SHP> IN TWO-FOR-ONE SPLIT The Stop and Shop Cos Inc said its board\nvoted a two-for-one stock split payable July One, to\nstockholders of record May 29.\n    It also said it was raising its quarterly cash dividend 16\npct to 32 cts per share from 27.5 cts per share prior.\n    As a result of the split, the number of outstanding shares\nwill increase to 28 mln from 14 mln, the company said.\n    The dividend is payable July One to shareholders of record\nMay 29, it said.\n Reuter\n&#3;',0
'NATIONAL BEVERAGE TO ACQUIRE FAYGO BEVERAGES &lt;National Beverage Corp>\nsaid it agreed to acquire &lt;Faygo Beverages Inc> for an\nundisclosed amount of cash.\n    Faygo has revenues in excess of of 100 mln dlrs, National\nBeverage said.\n    \n Reuter\n&#3;',0
'AUDIO/VIDEO AFFILIATES &lt;AVA> 4TH QTR JAN 31 NET Shr 17 cts vs 28 cts\n    Net 2,668,000 vs 3,655,000\n    Revs 93.9 mln vs 83.8 mln\n    Avg shrs 15.7 mln vs 13.2 mln\n    12 mths\n    Shr 48 cts vs 58 cts\n    Net 7,510,000 vs 7,482,000\n    Revs 228.8 mln vs 181.9 mln\n    Avg shrs 15.7 mln vs 12.9 mln\n    NOTE: full name of company is audio/video affiliates Inc.\n Reuter\n&#3;',0
'FLUOROCARBON &lt;FCBN> BUYS EATON &lt;ETN> DIVISION Fluorocarbon Co said it\nsigned a definitive agreement to acquire Eaton Corp\'s\nIndustrial Polymer division for an undisclosed price.\n    The polymer division, based in Aurora, Ohio, had 1986 sales\nof 86 mln dlrs, Fluorocarbon also said.\n Reuter\n&#3;',0
'FIRST UNION CORP &lt;FUNC> 1ST QTR NET Shr 71 cts vs 61 cts\n    Net 78.5 mln vs 64.6 mln\n    NOTE: Current qtr includes gain of seven cts/shr from sale\nof securities. Year-ago restated.\n Reuter\n&#3;',0
'FINANCIAL NEWS NETWORK INC &lt;FNNI> 2ND QTR NET Qtr ended February 28\n    Shr six cts vs three cts\n    Net 765,138 vs 311,388\n    Rev 8.3 mln vs 3.7 mln\n    Avg shares 12,272,265 vs 11,377,491\n    Six months\n    Shr 17 cts vs five cts\n    Net 2,073,057 vs 515,229\n    Rev 15.0 mln vs 7.4 mln\n    Avg shares 12,295,934 vs 11,200,000\n Reuter\n&#3;',0
'FIRST COLONIAL BANKSHARES CORP &lt;FCOLA> 1ST QTR Shr 41 cts vs 35 cts\n    Net 2,362,000 vs 1,613,000\n    Avg shrs 5,567,300 vs 4,070,700\n Reuter\n&#3;',0
'SEASONAL EXPORTS REPORTED BY U.S. EXPORTERS Exports of the following commodities\nbetween start of current seasons and April 2, with comparisons,\nas reported to USDA by exporters, in thousand tonnes, unless\nnoted --\n               4/2/87    Prev Wk   4/3/86\n Wheat        21,044.6  20,398.3  19,725.8\n Soybeans     14,334.2  14,063.5  14,698.4\n Corn         20,296.0  19,194.6  25,182.6-x\n Sorghum       3,222.5   3,149.7   3,168.9-x\n Soybean Oil     138.4     135.8     179.9\n Soybean Meal  4,098.0   3,880.6   3,141.3\n Cotton        4,333.1   4,204.7   1,510.4\n X-2,059,300 tonnes of corn and 763,800 tonnes of sorghum added\nto reflect change in marketing year to Sept-Aug.\n Reuter\n&#3;',1
'HAWAIIAN ELECTRIC &lt;HE> TO BUY HAWAIIAN INSURANCE Hawaiian Electric Industries said it\nhas entered a letter of intent to buy the Hawaiian Insurance\nCompanies.\n    The transaction is subject to a definitive agreement, and\ngovernment and board approvals.\n    The Hawaiian Insurance Companies ad assets at the end of\n1986 of 137.4 mln dlrs and earned premiums of 46.1 mln dlrs.\n    Hawaiian Electric said it plans to operate the comapny,\nwhich has 226 employees, with current management.\n Reuter\n&#3;',0
'SOVIET UNION TO IMPORT MORE GRAIN IN 86/87-USDA The U.S. Agriculture Department\nincreased its estimate of 1986/87 grain purchases by the Soviet\nUnion to 28 mln tonnes, up two mln tonnes from last month.\n    In its monthly report on the Soviet grain situation, the\nUSDA said imports will be higher than earlier estimated because\nSoviet grain buyers have been actively purchasing in the last\nmonth.\n    USDA said the increased purchasing is \"somewhat surprising\"\nbecause of recent higher Soviet crop estimates.\n    All of the increase in estimated imports will be in corn,\nUSDA said.\n    Of the 28 mln tonnes total, 15 mln tonnes will be wheat, 12\nmln tonnes coarse grains, and the remaining one mln tonnes\nmiscellaneous grains and pulses, USDA said.\n    USDA noted that the Soviet winter grain crop suffered\nthrough a severe winter and spring field work has been delayed.\n    The severe winter \"is believed to have resulted in above\naverage winter-kill,\" USDA said.\n    Some grain trade analysts have said abnormal winter losses\nmaybe one reason why the Soviet Union has been actively buying\ngrain recently.\n    USDA said Moscow already has purchased over 25 mln tonnes\ngrain for delivery in 1986/87, including 14 mln tonnes wheat\nand 12 mln tonnes coarse grain.\n Reuter\n&#3;',0
'DISNEY FAMILY MAKES BID FOR HOLLY SUGAR &lt;HLY> The Roy Disney family disclosed in a\nfiling with the Securities and Exchange Commission that it made\na bid to acquire Holly Sugar Corp for a package of cash and\nsecurities.\n    Shamrock Holdings of California Inc, a Disney family\ncompany, said it submitted the bid on April 8 to Salomon\nBrothers Inc, Holly Sugar\'s investment banker.\n    The offer was for 45 dlrs in cash, securities with a face\nvalue of 70 dlrs, and a \"contingent payment certificate\" that\nwould pay out as much as 70 dlrs over a 20-year period for each\nshare of Holly Sugar outstanding.\n    The Disney family already holds 101,300 Holly Sugar shares\nor 9.0 pct of the total outstanding following purchases of\n12,500 shares March 13-April 17, Shamrock told the SEC.\n    Shamrock said it had asked for certain information about\nHolly Sugar\'s financial condition but had been turned down. It\nsaid its offer was therefore subject to further discussions.\n    \"Once we have had an opportunity to complete our due\ndiligence evaluation of the company, including inspections of\ncertain facilities and meetings with key management personnel,\nwe would be prepared to negotiate all aspects of our proposal,\nincluding price,\" it said in its April 8 letter.\nREUTER^M\n&#3;',0
'U.S. EXPORTERS REPORT 200,000 TONNES WHEAT  SOLD TO JORDAN FOR 1987/88 DELIVERY\n ',0
'UNIVERSAL HEALTH REALTY &lt;UHT> 1ST QTR NET Shr 26 cts vs nil\n    Net 2,244,000 vs nil\n    Rev 3.4 mln vs nil\n    NOTE: Company\'s full name is Universal Health Realty Income\nTrust. Quarter is company\'s first full quarter of earnings.\n Reuter\n&#3;',0
'FROST AND SULLIVAN INC &lt;FRSL> INCREASES PAYOUT Semi-annual div seven cts vs six cts prior\n    Pay June One\n    Record May One\n.\n Reuter\n&#3;',0
'C.O.M.B. &lt;CMCO> MAKES ACQUISITION C.O.M.B. Co said it acquired for 8.7\nmln dlrs the principal assets of National Tech Industries Inc\nand Telkon Corp.\n    The companies are engaged in servicing, sales and\ntelemarketing of consumer electronic merchandise.\n Reuter\n&#3;',0
'RAI RESEARCH CORP &lt;RAC> 3RD QTR FEB 28 SHr one cts vs 14 cts\n    Net 17,806 vs 328,290\n    Revs 1.3 mln vs 2.2 mln\n    Nine months\n    Shr 27 cts vs 26 cts\n    Net 640,156 vs 622,251\n    Revs 5.6 mln vs 5.6 mln\n    NOTE:1986 net includes loss of 49,040 in nine months from\ndiscontinued and gain of 15,598 dlrs in 3rd qtr.\n Reuter\n&#3;',0
'CENTEL &lt;CNT> COMPLETES ACQUISITION Centel Corp said it completed the\nacquisition of Welbac Cable Television Corp, which serves more\nthan 2,500 cable television subscribers in east central\nMichigan.\n    Terms were not disclosed.\n    With the addition of Welbac customers, Centel Cable\nTelevision Co of Michigan serves more than 83,000 customers.\nOverall, Centel has nearly 495,000 customers in seven states.\n Reuter\n&#3;',0
'JAMES RIVER CORP &lt;JR> SETS REGULAR PAYOUT Qtrly div 10 cts vs 10 cts prior\n    Pay April 30\n    Record April 21\n Reuter\n&#3;',0
'THREE D DEPARTMENTS INC &lt;TDD> SETS PAYOUT Class A qtly div 2-1/2 cts vs 2-1/2 cts prior\n    Class B qtly div 1-1/2 cts vs 1-1/2 cts prior\n    Pay May 8\n    Record April 24\n Reuter\n&#3;',0
'U.S. EXPORTERS REPORT 300,000 TONNES  SOYBEAN MEAL TO IRAQ FOR SPLIT DELIVERY\n ',0
'U.S. EXPORTERS REPORT 100,000 TONNES CORN  SOLD TO ALGERIA FOR 1986/87 DELIVERY\n ',1
'WORLD SUPPLY/DEMAND ESTIMATES ISSUED BY USDA The U.S. Agriculture Department made\nthe following 1986/87 projections in its world Supply/Demand\nreport, with comparisons, in mln tonnes, except where noted --\n    Total World Grain\n               1986/87            1985/86\n         04/09/87  03/09/87  04/09/87  03/09/87\n Produc  1,682.31  1,686.11  1,663.69  1,663.70\n Total\n Supply  2,025.71  2,028.45  1,919.18  1,920.13\n Trade-X   212.15    211.89    204.42    203.92\n Usage   1,635.01  1,630.40  1,575.78  1,577.79\n End Stks  390.70    398.05    343.40    342.34\n X-Based on export estimate.\n    All Wheat    1986/87           1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n Start Stks  137.05   136.48   125.54   125.87\n Production  529.20   528.40   498.97   498.81\n Imports      97.57    98.27    94.56    94.36\n Feed Use    101.79   100.82    90.19    90.56\n Total Domes 517.26   514.89   487.45   488.20\n Exports     101.08   101.20    95.92    95.76\n End Stocks  148.99   149.99   137.05   136.48\n  Note - World imports/exports may not balance due to differing\nmarketing years, grains in transit and reporting discrepancies.\n    Coarse Grain\n                1986/87           1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n Start Stcks 181.64  181.10    107.80  108.40\n Production  835.21  838.82    844.60  844.84\n Imports      95.66   93.77     95.70   95.18\n Feed Use    514.07  510.20    510.20  510.80\n Total Domes 796.33  793.64    770.76  772.14\n Exports      98.97   98.47     96.02   95.76\n End Stocks  220.52  226.28    181.64  181.10\n  Note - World imports/exports may not balance due to differing\nmarketing years, grain in transit and reporting discrepancies.\n    Corn (Mln Tonnes)\n                1986/87           1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n Start Stcks 123.08  123.11     61.09   61.75\n Production  477.26  480.29    481.86  481.92\n Imports      61.03   58.59     62.12   62.08\n Feed Use    295.49  289.47    286.53  287.42\n Ttl Domes   444.78  439.80    419.88  420.55\n Exports      62.80   62.10     62.53   62.15\n End Stocks  155.56  163.61    123.08  123.11\n  Note - World imports/exports may not balance due to differing\nmarketing years, grain in transit and reporting discrepancies.\n\n    Soybeans\n                1986/87           1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n Start Stcks  23.03   22.84    17.59   17.58\n Production   99.98   99.43    96.74   96.53\n Imports      26.21   26.27    27.08   27.08\n Crushings    79.69   79.33    76.16   76.15\n Ttl Domes    97.53   96.40    92.36   92.34\n Exports      26.45   26.43    26.02   26.01\n End Stocks   25.23   25.71    23.03   22.84\n  Note - Imports and exports do not balance due to differing\nmarketing years and time lags between reported exports and\nimports.\n    Soybean Meal\n                1986/87            1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n Start Stocks  2.55    2.47     2.79    2.74\n Production   62.71   62.40    60.09   60.09\n Imports      23.47   23.49    23.48   23.47\n Consumption  62.69   62.49    61.06   61.10\n Exports      23.51   23.39    22.76   22.74\n End Stocks    2.52    2.47     2.55    2.47\n  Note - Imports and exports may not balance due to differing\nmarketing years and time lags between reported exports and\nimports.\n    Soybean Oil\n                1986/87          1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n Start Stocks  1.61   1.51       1.37   1.36\n Production   14.20  14.13      13.65  13.66\n Imports       3.31   3.29       3.08   3.05\n Consumption  14.02  14.03      13.33  13.40\n Exports       3.33   3.35       3.15   3.16\n End Stocks    1.78   1.54       1.61   1.51\n   Note - Imports and exports do not balance due to differing\nmarketing years and time lags between reported exports and\nimports.\n    Cotton (Mln Bales)\n               1986/87          1985/86\n          04/09/87 03/09/87  04/09/87 03/09/87\n Start Stcks 45.87   48.14    42.70   43.11\n Production  69.53   69.66    78.94   78.92\n Imports     23.07   23.07    21.49   21.45\n Mill Use    80.72   77.08    76.84   74.79\n Exports     23.37   23.50    20.25   20.28\n End Stocks  34.16   39.99    45.87   48.14\n  Note - Imports and exports may not balance due to cotton in\ntransit and reporting discrepancies in some countries.\n    Rice (Milled Basis)\n                1986/87          1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n Start Stocks 24.71   24.75     22.16   22.16\n Production  317.90  318.90    320.12  320.05\n Imports      10.56   10.63     11.68   11.70\n Dom. Use    321.41  321.87    317.58  317.46\n Exports      12.11   12.22     12.49   12.39\n End Stocks   21.19   21.78     24.71   24.75\n Reuter\n&#3;',1
'ADAMS EXPRESS CO &lt;ADX> MARCH 31 ASSETS Shr 22.50 dlrs vs 21.74 dlrs\n    Assets 546.9 mln vs 485.2 mln\n    Shrs out 24.3 mln vs 22.3 mln\n    NOTE: lastest assets after capital gain distributions of 28\ncts a share in February 1987 and 2.55 dlrs a share in December\n1986\n Reuter\n&#3;',0
'PETROLEUM AND RESOURCES CORP &lt;PEO> MARCH 31 Shr 31.36 dlrs vs 25.23 dlrs\n    Assets 286.5 mln vs 253.0 mln\n    Shrs out 9,138,526 vs 8,839,695\n    NOTE: latest assets after capital gain distributions of 50\ncts a share in February 1987 and 83 cts a share in December\n1986, and with 29,955,000 stated value 1.676 dlr convertible\npreferred stock outstanding.\n Reuter\n&#3;',0
'CORN SUPPLY/DEMAND BY COUNTRY -- USDA The U.S. Agriculture Department\ndetailed world supply/demand data for major importers and\nexporters of corn, by country, as follows in mln tonnes --\n    USSR CORN\n                1986/87            1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n Start Stocks  N.A.    N.A.     N.A.    N.A.\n Production   12.50   12.50    14.40   14.40\n Imports       8.00    6.00    10.40   10.40\n Domes Use    20.50   19.50    24.40   24.40\n Exports        Nil     Nil      Nil     Nil\n End Stocks    N.A.    N.A.     N.A.    N.A.\n N.A. - Not Available.\n    SOUTH AFRICA CORN, in mln tonnes -- \n               1986/87          1985/86\n         04/09/87 03/09/87  04/09/87 03/09/87\n Start Stcks  1.20   1.20     1.87   1.87\n Production   8.50   9.50     8.08   8.08\n Imports       Nil    Nil     0.01   0.01\n Domes Use    6.10   6.20     6.00   6.00\n Exports      2.10   3.00     2.75   2.75\n End Stocks   1.50   1.50     1.20   1.20\n    EC-12 CORN, in mln tonnes --\n                1986/87           1985/86\n           04/09/87 03/09/87  04/09/87 03/09/87\n Start Stcks  5.17    5.28      2.89    2.89\n Production  25.00   25.03     25.70   25.78\n Imports     10.69   10.61     12.82   12.82\n Domes Use   28.20   29.00     29.46   29.60\n Exports      7.91    7.94      6.78    6.61\n End Stocks   4.75    3.98      5.17    5.28\n    ARGENTINA CORN, in mln tonnes --\n               1986/87           1985/86\n          04/09/87 03/09/87  04/09/87 03/09/87\n Start Stcks  0.52   0.39       0.39   0.39\n Production  10.00  11.00      12.10  12.10\n Imports       Nil    Nil        Nil    Nil\n Domes Use    4.60   4.60       4.60   4.60\n Exports      5.70   6.50       7.37   7.50\n End Stocks   0.22   0.29       0.52   0.39\n    THAILAND CORN, in mln tonnes --\n               1986/87           1985/86\n          04/09/87 03/09/87  04/09/87 03/09/87\n Start Stocks 0.43   0.33      0.11   0.11\n Production   4.10   4.10      5.35   5.15\n Imports       Nil    Nil       Nil    Nil\n Domestic Use 1.55   1.35      1.35   1.25\n Exports      2.80   3.00      3.67   3.67\n End Stocks   0.18   0.08      0.43   0.33\n    JAPAN CORN, in mln tonnes --\n               1986/87           1985/86\n          04/09/87 03/09/87  04/09/87 03/09/87\n Start Stcks  1.24   1.24       1.06   1.06\n Production    Nil    Nil        Nil    Nil\n Imports     15.50  15.44      14.55  14.55\n Domes Use   15.51  15.45      14.37  14.37\n Exports       Nil    Nil        Nil    Nil\n End Stocks   1.24   1.24       1.24   1.24\n Reuter\n&#3;',1
'USDA REPORTS EXPORT SALES ACTIVITY The U.S. Agriculture Department said\nprivate U.S. exporters reported sales of 200,000 tonnes of\nwheat to Jordan, 300,000 tonnes of soybean meal to Iraq and\n100,000 tonnes of corn to Algeria.\n    The wheat for Jordan includes 165,000 tonnes of hard red\nwinter and 35,000 tonnes of soft red winter and is for delivery\nduring the 1987/88 marketing year.\n    The soybean meal sales to Iraq includes 180,000 tonnes for\ndelivery during the 1986/87 season and 120,000 tonnes during\nthe 1987/88 season, the department said.\n    The 100,000 tonnes of corn sales to Algeria are for\ndelivery during the 1986/87 season, it said.\n    The marketing year for wheat begins June 1, corn September\n1, and soybean meal October 1.\n Reuter\n&#3;',1
'INTERNATIONAL AMERICAN &lt;HOME> TO ACQUIRE COS International American Homes Inc\nsaid it entered into a conditional contract to acquire the\n&lt;Maione-Hirschberg Cos Inc> and affiliated entitles for 19 mln\ndlrs.\n    International American, whose stock was halted on Nasdaq\nearlier, said the purchase price is payable 12 mln dlrs in cash\nand the balance in its own common shares.\n    Selling shareholders may earn an additional amount up to a\nmaximum of eight mln dlrs payable in cash based on the future\nperformance of the companies acquired during the three years\nending March 31, 1990, International said.\n    The acquisition is subject to certain conditions, such as\nsatisfactory results of due diligence investigations, the\ncompany said.\n   \n Reuter\n&#3;',0
'SONY CHAIRMAN FORECASTS LOWER PROFITS THIS YEAR Sony Corp &lt;SNE.T> chairman Akio\nMorita said Sony\'s profits would be sharply down in 1987 as a\nresult of the dollar\'s decline.\n    Sony Corp posted net consolidated income of 41.89 billion\nyen (290 million dollars) in 1986, 42.6 pct down on 1985\'s\n73.02 billion yen (506 million dollars).\n    But Morita added that Japan would benefit from the strong\nyen by saving on its energy import bill and he expected profits\nto recover from 1988 onwards.\n    He was speaking to reporters at a sony factory opening\nhere.\n Reuter\n&#3;',0
'COARSE GRAIN SUPPLY/DEMAND BY COUNTRY -- USDA The U.S. Agriculture Department\ndetailed world supply/demand data for major importers and\nexporters of coarse grains, by country, as follows in mln\ntonnes --\n    USSR COARSE GRAIN\n               1986/87           1985/86\n          04/09/87 03/09/87  04/09/87 03/09/87\n Start Stcks  N.A.    N.A.      N.A.    N.A.\n Production 103.30  103.30     99.99   99.99\n Imports     12.00   10.00     13.70   13.70\n Domes Use  112.30  112.30    111.99  111.99\n Exports       NIL     NIL       NIL     NIL\n End Stocks   N.A.    N.A.      N.A.    N.A.\n N.A. - Not Available.\n    EC-12 COARSE GRAIN, in mln tonnes --\n              1986/87            1985/86\n         04/09/87 03/09/87  04/09/87 03/09/87\n Start Stcks 14.91   14.93    10.53   10.53\n Production  81.22   81.19    88.21   88.28\n Imports     16.58   17.26    18.29   18.24\n Dom Use     79.64   81.27    82.38   82.55\n Exports     19.90   19.96    19.73   19.56\n End Stocks  13.18   12.15    14.91   14.93\n    EASTERN EUROPE COARSE GRAIN, mln tonnes --\n               1986/87            1985/86\n          04/09/87 03/09/87  04/09/87 03/09/87\n Start Stcks  4.07    3.72     5.14    5.14\n Production  73.95   74.50    68.28   68.38\n Imports      4.90    4.47     5.58    5.26\n Dom Use     73.04   73.23    72.65   72.77\n Exports      3.55    3.55     2.28    2.28\n End Stocks   6.34    5.46     4.07    3.72\n    JAPAN COARSE GRAIN, in mln tonnes --\n              1986/87           1985/86\n         04/09/87 03/09/87  04/09/87 03/09/87\n Start Stcks 2.32    2.23     1.91    1.91\n Production  0.35    0.35     0.39    0.39\n Imports    21.56   21.50    21.51   21.51\n Dom Use    21.79   21.73    21.49   21.49\n Exports      NIL     NIL      NIL     NIL\n End Stocks  2.44    2.44     2.32    2.32\n    ARGENTINA COARSE GRAIN, in mln tonnes --\n               1986/87            1985/86\n          04/09/87 03/09/87  04/09/87 03/09/87\n Start Stcks  0.78    0.53     0.83    0.83\n Production  13.99   15.44    17.06   17.14\n Imports      0.02     NIL      NIL     NIL\n Domes Use    7.73    7.75     7.76    7.87\n Exports      6.60    7.73     9.43    9.58\n End Stocks   0.46    0.49     0.78    0.53\n    CANADA COARSE GRAIN, in mln tonnes --\n              1986/87            1985/86\n         04/09/87 03/09/87  04/09/87 03/09/87\n Start Stcks 6.19    6.19     4.66    4.61\n Production 27.62   27.62    24.95   24.95\n Imports     0.30    0.30     0.31    0.31\n Dom Use    19.80   19.80    18.99   18.96\n Exports     7.41    7.21     4.74    4.72\n End Stocks  6.90    7.10     6.19    6.19\n    THAILAND COARSE GRAINS, in mln tonnes --\n               1986/87            1985/86\n          04/09/87 03/09/87  04/09/87 03/09/87\n Start Stcks  0.49    0.38     0.16   0.16\n Production   4.40    4.40     5.67   5.47\n Imports       NIL     NIL      NIL    NIL\n Domes Use    1.57    1.37     1.40   1.30\n Exports      3.10    3.30     3.94   3.95\n End Stocks   0.22    0.11     0.49   0.38\n Reuter\n&#3;',0
