[ { "title": "SANDOZ PLANS WEEDKILLER JOINT VENTURE IN USSR", "body": "Sandoz AG said it planned a joint venture\nto produce herbicides in the Soviet Union.\n The company said it had signed a letter of intent with the\nSoviet Ministry of Fertiliser Production to form the first\nforeign joint venture the ministry had undertaken since the\nSoviet Union allowed Western firms to enter into joint ventures\ntwo months ago.\n The ministry and Sandoz will each have a 50 pct stake, but\na company spokeswoman was unable to give details of the size of\ninvestment or planned output.\n Reuter\n\u0003", "date": " 3-MAR-1987 09:18:21.26", "places": [ "usa", "ussr" ], "id": "1001" }, { "title": "TAIWAN REJECTS TEXTILE MAKERS EXCHANGE RATE PLEA", "body": "Central bank governor Chang Chi-cheng\nrejected a request by textile makers to halt the rise of the\nTaiwan dollar against the U.S. Dollar to stop them losing\norders to South Korea, Hong Kong and Singapore, a spokesman for\nthe Taiwan Textile Federation said.\n He quoted Chang as telling representatives of 19 textile\nassociations last Saturday the government could not fix the\nTaiwan dollar exchange rate at 35 to one U.S. Dollar due to\nU.S. Pressure for an appreciation of the local currency.\n The Federation asked the government on February 19 to hold\nthe exchange rate at that level.\n The federation said in its request that many local textile\nexporters were operating without profit and would go out of\nbusiness if the rate continued to fall.\n Reuter\n\u0003", "date": " 3-MAR-1987 09:19:31.96", "places": [ "usa", "taiwan" ], "id": "1002" }, { "title": "NATIONAL FSI INC 4TH QTR LOSS", "body": "Shr loss six cts vs profit 19 cts\n Net loss 166,000 vs profit 580,000\n Revs 3,772,000 vs 5,545,000\n Year\n Shr loss 13 cts vs profit 52 cts\n Net loss 391,000 vs profit 1,425,000\n Revs 15.4 mln vs 16.6 mln\n NOTE: 1985 year figures pro forma for purchase accounting\nadjustments resulting from March 1985 reeacquisition of company\nby its original shareholders before August 1985 initial public\noffering. \n Reuter\n\u0003", "date": " 3-MAR-1987 09:20:23.32", "topics": [ "earn" ], "places": [ "usa" ], "id": "1003" }, { "title": "OCCIDENTAL OFFICIAL RESIGNS", "body": "MidCon Corp, a subsidiary of\nOccidental Petroleum Corp , said William C. Terpstra has\nresigned as president and chief operating officer and his\nreponsibilities will be assumed by MidCon chairman O.C. Davis.\n No reason was given.\n Reuter\n\u0003", "date": " 3-MAR-1987 09:21:39.11", "places": [ "usa" ], "id": "1004" }, { "title": "ITALY'S BNL TO ISSUE 120 MLN DLR CONVERTIBLE BOND", "body": "Italy's state-owned said it would issue 120 mln dlrs of five-year\nconvertible eurobonds, an operation to be lead-managed by\n.\n BNL president Nerio Nesi told a news conference that the\nissue, to be placed on the main international markets and\nlisted in Luxembourg, would be the first equity linked issue by\nan Italian bank on the Euromarket.\n BNL officials said the issue is scheduled for mid-March and\nadditional financial details were not immediately available.\n They said the operation would be through the issue of\ndepositary receipts by BNL's London branch. They said the bonds\nwould carry warrants issued by its subsidiary and\nconvertible into BNL saving shares within five years.\n The officials said a banking consortium led by Credit\nSuisse-First Boston would at the same time arrange for the\nprivate placing of an unspecified number of BNL savings shares\nwith foreign institutional investors.\n The operation was to further its aim of obtaining a listing\non foreign stock exchanges with a view to future capital\nincreases through ordinary share issues, they said.\n REUTER\n\u0003", "date": " 3-MAR-1987 09:25:48.88", "places": [ "italy" ], "id": "1005" }, { "title": "GE SAYS AMR ORDER WORTH 650 MLN DLRS", "body": "General Electric Co said AMR\nCorp's oprder of GE CFG-80C2 engines to power 25 new A300-600R and 15 Boeing Co 767-300ER twinjets\nis worth over 650 mln dlrs.\n The company said the order is the largest single one it has\never received for commercial aircraft engines.\n AMR announced the order earlier today.\n GE said deliveries will start in early 1988.\n Reuter\n\u0003", "date": " 3-MAR-1987 09:27:51.06", "places": [ "usa" ], "id": "1006" }, { "title": " YEAR LOSS", "body": "Shr loss 1.93 dlrs vs profit 16 cts\n Net loss 53,412,000 vs profit 4,479,000\n Revs 24.8 mln vs 32.7 mln\n Note: 1986 shr and net include 51,187,000 dlr writedown on\nU.S. operations, uneconomic coal operations and other mineral\nproperties\n Reuter\n\u0003", "date": " 3-MAR-1987 09:30:07.60", "topics": [ "earn" ], "places": [ "canada" ], "id": "1007" }, { "title": "U.K. MONEY MARKET GIVEN FURTHER 437 MLN STG HELP", "body": "The Bank of England said it had provided the\nmoney market with a further 437 mln stg assistance in the\nafternoon session. This brings the Bank's total help so far\ntoday to 461 mln stg and compares with its revised shortage\nforecast of 450 mln stg.\n The central bank made purchases of bank bills outright\ncomprising 120 mln stg in band one at 10-7/8 pct and 315 mln\nstg in band two at 10-13/16 pct.\n In addition, it also bought two mln stg of treasury bills\nin band two at 10-13/16 pct.\n REUTER\n\u0003", "date": " 3-MAR-1987 09:30:48.45", "topics": [ "money-fx", "interest" ], "places": [ "uk" ], "id": "1008" }, { "title": "GREASE MONKEY HOLDING CORP YEAR NOV 30", "body": "Shr nil vs nil\n Net 130,998 vs 30,732\n Revs 1,568,941 vs 1,0053,234\n Reuter\n\u0003", "date": " 3-MAR-1987 09:32:34.04", "topics": [ "earn" ], "places": [ "usa" ], "id": "1009" }, { "title": "ACCEPTANCE INSURANCE HOLDINGS INC YEAR", "body": "Oper shr profit 1.80 dlrs vs loss 2.28 dlrs\n Oper net profit 2,048,0000 vs loss 1,318,000\n Revs 25.4 mln vs 12.3 mln\n Avg shrs 1,135,000 vs 576,000\n NOTE: Net excludes realized investment gains of 40,000 dlrs\nvs 13,000 dlrs.\n 1986 net excludes 729,000 dlr tax credit.\n Reuter\n\u0003", "date": " 3-MAR-1987 09:33:32.98", "topics": [ "earn" ], "places": [ "usa" ], "id": "1010" }, { "title": "MINSTAR INC 4TH QTR NET", "body": "Oper shr loss 31 cts vs loss 30 cts\n Oper net loss 5,429,000 vs loss 5,216,000\n Revs 257.5 mln vs 243.6 mln\n Avg shrs 17.5 mln vs 13.5 mln\n Year\n Oper shr loss eight cts vs profit 28 cts\n Oper net loss 1,324,000 vs profit 4,067,000\n Revs 989.5 mln vs 747.9 mln\n Avg shrs 17.6 mln vs 15.7 mln\n \n NOTE: 1986 operating net loss excludes income from\ndiscontinued operations equal to 11 cts in the quarter and 66\ncts in the year compared with 1.07 dlrs in the quarter and 1.23\ndlrs in the respective periods of 1985.\n 1986 operating net loss also excludes extraordinary charges\nof 14 cts in the quarter and 54 cts in the year.\n 1985 operating net profit excludes an extraordinary gain of\n47 cts.\n Reuter\n\u0003", "date": " 3-MAR-1987 09:35:03.37", "topics": [ "earn" ], "places": [ "usa" ], "id": "1011" }, { "title": "DAI-ICHI HOTEL SWISS FRANC NOTES COUPON CUT", "body": "The coupon on Dai-Ichi Hotel Ltd's 50 mln\nSwiss franc issue of five-year notes with equity warrants has\nbeen cut to 1-5/8 pct from the indicated 1-7/8 pct, lead\nmanager Swiss Volksbank said.\n The warrants have an exercise price of 1,507 yen per share,\ncompared with the last traded price of 1,470 yen, it said.\n The notes are guarantees by Long-Term Credit Bank of Japan\nLtd. Payment is due on March 25.\n REUTER\n\u0003", "date": " 3-MAR-1987 09:37:19.17", "places": [ "switzerland" ], "id": "1012" }, { "title": " YEAR LOSS", "body": "Shr not given\n Loss 54.9 mln\n Revs 27.2 mln\n Note: Prior year results not given. 1986 results include\naccounts of 89 pct owned ,\nacquired November 5, 1986\n Reuter\n\u0003", "date": " 3-MAR-1987 09:37:43.02", "topics": [ "earn" ], "places": [ "canada" ], "id": "1013" }, { "title": "SAAB-SCANIA ISSUES 150 MLN DLR EUROBOND", "body": "Saab-Scania AB is issuing a 150 mln dlr\neurobond due April 2, 1992 paying 7-3/4 pct and priced at\n101-3/4 pct, lead manager Morgan Guaranty Ltd said.\n The bond is available in denominations of 5,000 and 50,000\ndlrs and will be listed in London. Payment date is April 2,\n1992.\n Fees comprise 1-1/4 pct selling concession and 5/8 pct\nmanagement and underwriting combined, and listing will be in\nLondon.\n REUTER\n\u0003", "date": " 3-MAR-1987 09:37:53.73", "places": [ "uk" ], "id": "1014" }, { "title": "TRANSFORM LOGIC REVISES RESULTS DOWNWARD", "body": "Transform Logic Corp said it\nhas revised downward its previously reported fourth quarter and\nyear, ended October 31, results to reflect compensation expense\nfor employee stock options.\n The company said resolution of this disagreement with its\nauditors came as a result of Securities and Exchange Commission\ninvolvement. The company will amend its option-granting\nprocedure to conform to the SEC decision which will eliminate\nfuture charges, it added.\n Transform said its fourth quarter profit was revised to\n305,082 dlrs, or two cts a share, from the previously reported\n580,955 dlrs, which left the company with a fiscal 1986 loss of\n249,814 dlrs, or two cts a share, instead of the reported\n26,195 dlrs profit.\n Reuter\n\u0003", "date": " 3-MAR-1987 09:38:16.31", "topics": [ "earn" ], "places": [ "usa" ], "id": "1015" }, { "title": "AMERICAN STORES SEES LOWER YEAR NET", "body": "American Stores Co said it\nexpects to report earnings per share of 3.70 to 3.85 dlrs per\nshare on sales of slightly over 14 billion dlrs for the year\nended January 31.\n The supermarket chain earned 4.11 dlrs per share on sales\nof 13.89 billion dlrs last year.\n The company did not elaborate.\n Reuter\n\u0003", "date": " 3-MAR-1987 09:38:28.76", "topics": [ "earn" ], "places": [ "usa" ], "id": "1016" }, { "title": "KASLER CORP 1ST QTR JAN 31 NET", "body": "Shr profit three cts vs loss seven cts\n Net profit 161,000 vs loss 367,000\n Revs 24.3 mln vs 26.5 mln\n Reuter\n\u0003", "date": " 3-MAR-1987 09:38:33.69", "topics": [ "earn" ], "places": [ "usa" ], "id": "1017" }, { "title": "CARIBBEAN SELECT TO REDEEM WARRANTS", "body": "Caribbean Select Inc said it has\nelected to redeem on April 10 all its Class A warrants and all\nClass B warrants at 0.01 ct each.\n At the same time, it said its board has decided to reduce\nthe exercise price of the Class B warrants to 3.50 dlrs per\ncommon share from four dlrs to encourage the exercise of the\nwarrants. Each Class B warrant allows the purchase of one\ncommon share.\n It said each Class A warrant is still exercisable into one\ncommon share at two dlrs each.\n Reuter\n\u0003", "date": " 3-MAR-1987 09:41:45.44", "places": [ "usa" ], "id": "1018" }, { "title": "UNILEVER HAS IMPROVED MARGINS, VOLUMES IN 1986", "body": "Unilever Plc and NV group reported\nimprovements in margins and underlying sales volume growth of\nfive pct in 1986 after stripping out the effects of falling\nprices, disposals and currency movements, Unilever Plc chairman\nMichael Angus said.\n He told reporters that volumes in North America increased\nsome 10.5 pct while European consumer goods rose about 2.5 pct\nafter being flat for some years.\n Much of the disposal strategy, aimed at concentrating\nactivities on core businesses, had now been completed, he\nnoted.\n But the process of acquisitions would go on, with strategic\nacquisitions taking place \"from time to time,\" he said.\n The company earlier reported a 20 pct rise in pre-tax\nprofits for 1986 to 1.14 billion stg from 953 mln previously.\nIn guilder terms, however, profits at the pre-tax level dropped\nthree pct to 3.69 billion from 3.81 billion.\n Angus said the recent purchase of Chesebrough-Pond's Inc\n for 72.50 dlrs a share was unlikely to bring any\nearnings dilution.\n However, it would not add much to profits, with much of the\ncompany's operating profits paying for the acquisition costs.\n Finance director Niall Fitzgerald added that while gearing\n- debt to equity plus debt - rose to about 60 pct at end 1986\nfrom 35 pct last year, this was expected to drop back to about\n40 pct by end-1987.\n The same divergence was made in full year dividend, with\nUnilever NV's rising 3.4 pct to 15.33 guilders and Unilever\nPlc's increasing 29.9 pct to 50.17p, approximately in line with\nthe change in attributable profit.\n Angus said the prospectus for the sale of parts of\nChesebrough was due to be published shortly. However, he said\nthat there was no target date for completing the process.\n He also declined to say what sort of sum Unilever hoped to\nrealise from the operation, beyond noting that Chesebrough had\npaid around 1.25 billion dlrs for Stauffer Chemical Co, which\noperates outside Unilever's core activities.\n In the U.S., Organic growth from the Lipton Foods business,\nconsiderable expansion in the household products business and\nin margarine had been behind the overall sales increase.\n However, he noted that the U.S. Household products business\nhad turned in a planned loss, with fourth quarter performance\nbetter than expected despite the anticipated heavy launch costs\nof its Surf detergents.\n Reuter\n\u0003", "date": " 3-MAR-1987 09:45:18.22", "topics": [ "earn" ], "places": [ "uk" ], "id": "1019" }, { "title": "SARA LEE TO BUY 34 PCT OF DIM", "body": "Sara Lee Corp said it agreed to buy a 34\npct interest in Paris-based DIM S.A., a subsidiary of BIC S.A.,\nat a cost of about 84 mln dlrs.\n DIM S.A., a hosiery manufacturer, had 1985 sales of about\n260 mln dlrs.\n The investment includes the purchase of 360,537 newly\nissued DIM shares valued at about 51 mln dlrs and a loan of\nabout 33 mln dlrs, it said. The loan is convertible into an\nadditional 229,463 DIM shares, it noted.\n The proposed agreement is subject to approval by the French\ngovernment, it said.\n Reuter\n\u0003", "date": " 3-MAR-1987 09:45:29.48", "topics": [ "acq" ], "places": [ "usa" ], "id": "1020" }, { "title": "HOLIDAY CORP HOTEL GROUP ADDS PROPERTIES", "body": "Holiday Corp's Holiday Inn Hotel\nGroup said it will add a record 17 hotels with 4,440 rooms to\nits international division as part of its plan to double its\npresence abroad by 1995.\n The company said its international division will reach\n50,000 rooms by this spring, classifying it as the eighth\nlargest hotel chain in the world. Holiday said by the end of\nthe year, there will be approximately 220 Holiday Inn hotels in\n54 countries.\n The company said it plans to expand from 28 to 55 hotels in\nits Asia/Pacific region and to 192 in its Europe/Middle\nEast/Africa regionby 1995.\n For 1987, the hotel group will focus on expansion on\nWestern Europe and Asia, citing China as an untapped source for\nthe international lodging industry.\n Holiday also said it will concentrate on city center hotels\nin key destination cities in Western Europe, catering primarily\nto business travelers.\n Some of those cities where Holiday said it will open new\nproperties this year include Amsterdam, Lyon/Atlas and Lisbon.\n Reuter\n\u0003", "date": " 3-MAR-1987 09:45:54.32", "places": [ "usa" ], "id": "1021" }, { "title": "CHINA CALLS FOR BETTER TRADE DEAL WITH U.S.", "body": "China called on the United States to\nremove curbs on its exports, to give it favourable trading\nstatus and ease restrictions on exports of high technology.\n But the U.S. Embassy replied that Chinese figures showing\n13 years of trade deficits with the U.S. Out of the last 15 are\ninaccurate and said Peking itself would have to persuade\nCongress to change laws which limit its exports.\n The official International Business newspaper today\npublished China's demands in a editorial to coincide with the\nvisit of U.S. Secretary of State George Shultz.\n \"It is extremely important that the U.S. Market reduce its\nrestrictions on Chinese imports, provide the needed facilities\nfor them and businessmen from both sides help to expand Chinese\nexports,\" the editorial said.\n \"The U.S. Should quickly discard its prejudice against\nfavourable tariff treatment for Chinese goods and admit China\ninto the Generalised System of Preference (GSP).\n \"Despite easing of curbs on U.S. Technology exports in\nrecent years, control of them is still extremely strict and\ninfluences normal trade between the two countries,\" it added.\n The paper also printed an article by China's commercial\ncounsellor in its Washington embassy, Chen Shibiao, who said\nthat \"all kinds of difficulties and restrictions\" were preventing\nbilateral trade fulfilling its full potential.\n He named them as U.S. Protectionist behaviour, curbs on\ntechnology transfer and out-of-date trade legislation.\n Reuter\n\u0003", "date": " 3-MAR-1987 09:46:36.82", "topics": [ "trade" ], "places": [ "usa", "china" ], "id": "1022" }, { "title": "U.S. COMMERCE SECRETARY SAYS EXPORT RISE NEEDED", "body": "Commerce Secretary Malcolm Baldrige\nsaid after the release of a sharply lower January leading\nindicator index that a pickup in exports is needed.\n \"The best tonic for the economy now would be a pickup in net\nexports,\" he said in a statement after the department reported\nthe index fell 1.0 pct in January from December, the sharpest\ndrop since a 1.7 pct fall in July, 1984.\n The main reasons for the January decline after a 2.3 pct\nDecember rise were declines in building permits, new orders for\nplant and equipment and for consumer and industrial goods.\n Reuter\n\u0003", "date": " 3-MAR-1987 09:46:55.59", "topics": [ "lei" ], "places": [ "usa" ], "id": "1023" }, { "title": "PRECAMBRIAN SHIELD TAKES 51 MLN DLR WRITEDOWN", "body": ", earlier reporting a large loss against year-ago profit,\nsaid the 1986 loss was mainly due to a 51,187,000 dlr writedown\non its U.S. operations, uneconomic coal and other mineral\nproperties.\n Precambrian, which is 89 pct owned by ,\nsaid it took the writedown in accordance with new Canadian\nInsititute of Chartered Accountants guidelines for full cost\nmethod accounting by oil and gas companies.\n Precambrian earlier reported a 1986 loss of 53.4 mln dlrs,\ncompared to profit of 4.5 mln dlrs in the prior year.\n Reuter\n\u0003", "date": " 3-MAR-1987 09:47:47.16", "topics": [ "earn" ], "places": [ "canada" ], "id": "1024" }, { "title": "AERO SERVICES GETS NASDAQ EXCEPTION", "body": "Aero Services Inc said its\ncommon stock will continue to be included for quotation in the\nNational Association of Securities Dealers' NASDAQ system due\nto an exception from filing requiements, which it failed to\nmeet as of January 15.\n The company said while it believes it can meet conditions\nthe NASD imposed for the exception, there can be no assurance\nthat it will do so.\n Reuter\n\u0003", "date": " 3-MAR-1987 09:48:24.78", "places": [ "usa" ], "id": "1025" }, { "title": "KENYAN ECONOMY FACES PROBLEMS, PRESIDENT SAYS", "body": "The Kenyan economy is heading for\ndifficult times after a boom last year, and the country must\ntighten its belt to prevent the balance of payments swinging\ntoo far into deficit, President Daniel Arap Moi said.\n In a speech at the state opening of parliament, Moi said\nhigh coffee prices and cheap oil in 1986 led to economic growth\nof five pct, compared with 4.1 pct in 1985.\n The same factors produced a two billion shilling balance of\npayments surplus and inflation fell to 5.6 pct from 10.7 pct in\n1985, he added.\n \"But both these factors are no longer in our favour ... As a\nresult, we cannot expect an increase in foreign exchange\nreserves during the year,\" he said.\n The price of coffee, Kenya's main source of foreign\nexchange, fell in London today to about 94 cents a pound from a\npeak of 2.14 dlrs in January 1986.\n Crude oil, which early last year slipped below 10 dlrs a\nbarrel, has since crept back to over 18 dlrs.\n Moi said the price changes, coupled with a general decline\nin the flow of capital from the rest of the world, made it more\ndifficult to finance the government's budget deficit.\n Kenya was already spending over 27 pct of its budget on\nservicing its debts and last year it was a net exporter of\ncapital for the first time in its history, he added.\n \"This is a clear indication that we are entering a difficult\nphase as regards our external debts, and it is imperative that\nwe raise the rate of domestic savings and rely less on foreign\nsources to finance our development,\" he said.\n \"It will be necessary to maintain strict discipline on\nexpenditure ... And members of this house will have to take the\nlead in encouraging wananchi (ordinary people) to be more\nfrugal in satisfying immediate needs,\" the president added.\n REUTER\n\u0003", "date": " 3-MAR-1987 09:49:23.53", "topics": [ "coffee", "crude" ], "places": [ "kenya" ], "id": "1026" }, { "title": "TRI-STAR CHANGING FISCAL YEAR", "body": "Tri-Star Pictures Inc said it is\nchanging its fiscal year to year ending at the end of February\nfrom a calendar year to reflect the traditional business cycles\nof its two principal businesses, motion picture distribution\nand motion picture exhibition.\n It said it expects to file a report for the two-month\nfiscal \"year\" ended February 28, 1987 by May 28 and to report\nearnings for the new first quarter in June.\n Reuter\n\u0003", "date": " 3-MAR-1987 09:49:45.02", "places": [ "usa" ], "id": "1027" }, { "title": "LIFETIME TO MAKE ANNOUNCEMENT", "body": "Lifetime Corp said it will make an\nannouncement this morning between 1000 EST and 1030 EST.\n A company spokesman said the company preferred not to\ncomment until that time.\n The American Stock Exchange delayed trading in Lifetime\nshares this morning for news pending.\n Reuter\n\u0003", "date": " 3-MAR-1987 09:50:34.51", "places": [ "usa" ], "id": "1028" }, { "title": "SCOTT'S HOSPITALITY ACQUIRES CAPITAL FOOD", "body": " said it\nacquired all issued shares of Capital Food Services Ltd, of\nOttawa. Terms were not disclosed.\n Scott's said Capital Food had 1986 sales of more than 20\nmln dlrs and will continue to operate under its present name\nwith existing management.\n Capital Food provides food services to several Ottawa\ninstitutions, the company said.\n Reuter\n\u0003", "date": " 3-MAR-1987 09:53:44.44", "topics": [ "acq" ], "places": [ "usa" ], "id": "1029" }, { "title": "ZIMBABWE COFFEE OUTPUT SET TO RISE", "body": "Zimbabwean coffee output will reach\n13,000 tonnes this year, up on just over 11,000 tonnes produced\nin 1986, the Commercial Coffee Growers Association said.\n Administrative Executive Robin Taylor told the domestic\nnews agency ZIANA that Zimbabwe earned the equivalent of 33 mln\nU.S. Dlrs from coffee exports last year. He would not say how\nmuch the country would earn in 1987.\n Taylor said the 173 commercial coffee growers under his\nassociation had increased production from 5,632 tonnes in 1980\nto more than 11,000 tonnes in l986.\n Reuter\n\u0003", "date": " 3-MAR-1987 09:57:02.21", "topics": [ "coffee" ], "places": [ "zimbabwe" ], "id": "1030" }, { "title": "YANKEE SWAPS STOCK FOR DEBENTURES", "body": "Yankee Cos Inc said it has\nacquired 3,916,000 dlrs of 7-1/2 pct convertible subordinated\ndebentures due May 15, 1998 of its YFC International Finance NV\naffiliate for 501,807 common shares from an institutional\ninvestor.\n Reuter\n\u0003", "date": " 3-MAR-1987 09:58:00.11", "places": [ "usa" ], "id": "1031" }, { "title": "VIDEO DISPLAY TO SELL CABLE TV UNIT", "body": "Video Display Corfp said it has reached\na tentiative agreement to sell its existing cable television\nbusiness for undisclosed terms and expects to report a gain on\nthe transaction. The buyer was not named.\n The company said it will redeploy its service assets into\nmanufacturing and distribution.\n It said the operations being sold accounted for about five\npct of revenues for the year ended February 28 and lost money.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:00:52.96", "topics": [ "acq" ], "places": [ "usa" ], "id": "1032" }, { "title": "INTEK DIVERSIFIED CORP 4TH QTR NET", "body": "Shr three cts vs three cts\n Net 98,20000 vs 91,898\n Revs 2,843,520 vs 2,372,457\n Year\n Shr 13 cts vs 21 cts\n Net 401,179 vs 681,374\n Revs 10.5 mln vs 9,699,535\n Reuter\n\u0003", "date": " 3-MAR-1987 10:00:57.16", "topics": [ "earn" ], "places": [ "usa" ], "id": "1033" }, { "title": "BERYLLIUM INT'L SIGNS JOINT VENTURE PACT", "body": " said it has signed a joint venture agreement with Cominco\nAmerican Inc, a unit of Cominco Ltd , to develop a\nberyllium mine and processing plant on Beryllium\nInternational's property in the Topaz Mountains southwest of\nSalt Lake City.\n Beryllium said as a 49 pct owner of the venture iot would\nbe contributing the mine while Cominco, as operator and 51 pct\nowner, would conduct drilling, metallurgical studies, process\ntesting and other preliminary work for a feasibility study.\n Beryllium said the cost of the preliminary work in 1987,\nwhich will start immediately, should be about 250,000 dlrs to\n300,000 dlrs.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:01:14.42", "places": [ "usa" ], "id": "1034" }, { "title": "U.S. SINGLE-FAMILY HOME SALES FELL 6.8 PCT IN JAN AFTER REVISED 12.1 PCT DEC GAIN\n", "date": " 3-MAR-1987 10:01:28.07", "topics": [ "housing" ], "places": [ "usa" ], "id": "1035" }, { "title": "U.S. HOME SALES FELL 6.8 PCT IN JANUARY", "body": "Sales of new single-family homes in\nthe United States fell 6.8 pct in January from December to a\nseasonally adjusted annual rate of 716,000 units, the Commerce\nDepartment said.\n The department revised downward December's sales to a 12.1\npct rise to 768,000 units from the previously reported 12.7 pct\nincrease.\n The January decline in sales was the largest since last\nOctober when sales fell 9.3 pct.\n Before seasonal adjustment, the number of homes actually\nsold in January was 53,000, up from 49,000 in December but down\nfrom 59,000 in January, 1986.\n The January fall brought home sales to a level 1.6 pct\nbelow January, 1986, when they were a seasonally adjusted\n728,000 units.\n The average price was a record 127,100 dlrs, surpassing the\nprevious record 119,100 price set in December.\n The median price of a home in January reached 100,700 dlrs\n-- the first time the price has exceeded 100,000 dlrs. That\ncompared with a median price of 94,600 dlrs in December and\n94,000 dlrs in January a year ago.\n New homes available on the market in January totaled a\nseasonally adjusted 362,000 units, unchanged from December and\nequal to a 6.3 months' supply.\n The supply in December was 5.9 months.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:02:11.63", "topics": [ "housing" ], "places": [ "usa" ], "id": "1036" }, { "title": "DIMIS EXTENDS LIFE OF WARRANTS BRIEFLY", "body": "Dimis Inc said it has extended\nby five business days the expiration of its common stock\npurchase warrants until March Nine.\n It said over one mln have already been exercised. The\nwarrants became effective February 17.\n Holders exercising will receive a new warrant expiring\nMarch 31 allowing the purchase of half a common share at one\ndlr.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:02:22.46", "places": [ "usa" ], "id": "1037" }, { "title": "AMERICAN BARRICK UNIT COMPLETES ISSUE", "body": " said\nwholly owned Barrick Resources (USA) Inc completed the\npreviously announced 50 mln U.S. dlr issue of two pct gold\nindexed notes, which are guaranteed by American Barrick.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:05:32.60", "places": [ "canada", "usa" ], "id": "1038" }, { "title": "COMMUNITY BANK TO MAKE ACQUISITION", "body": "Community Bank System Inc said it\nhas entered into a definitive agreement to acquire Nichols\nCommunity Bank for 2,800,000 dlrs in common stock.\n It said subject to approval by Nichols shareholders and\nregulatory authorities, the transaction is expected to be\ncompleted later this year.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:07:42.19", "topics": [ "acq" ], "places": [ "usa" ], "id": "1039" }, { "title": "BELGIAN UNEMPLOYMENT FALLS IN FEBRUARY", "body": "Belgian unemployment, based on the\nnumber of jobless drawing unemployment benefit, fell to 12.1\npct of the working population at the end of February from 12.6\npct at the end of January, the National Statistics Office said.\n The rate compares with 12.4 pct at the end of February\n1986.\n The total number of jobless stood at 508,392, compared with\n530,587 at the end of January and 521,219 at the end of\nFebruary 1986, the Statistics Office said.\n REUTER\n\u0003", "date": " 3-MAR-1987 10:08:28.26", "topics": [ "jobs" ], "places": [ "belgium" ], "id": "1040" }, { "title": "KODAK HAS NEW DATA STORAGE, USAGE SYSTEMS", "body": "Eastman Kodak Co said it is introducing\nfour information technology systems that will be led by today's\nhighest-capacity system for data storage and retrieval.\n The company said information management products will be\nthe focus of a multi-mln dlr business-to-business\ncommunications campaign under the threme \"The New Vision of\nKodak.\"\n Noting that it is well-known as a photographic company,\nKodak said its information technology sales exceeded four\nbillion dlrs in 1986. \"If the Kodak divisions generating those\nsales were independent, that company would rank among the top\n100 of the Fortune 500,\" it pointed out.\n The objective of Kodak's \"new vision\" communications\ncampaign, it added, is to inform others of the company's\ncommitment to the business and industrial sector.\n Kodak said the campaign will focus in part on the\ninformation management systems unveilded today --\n -- The Kodak optical disk system 6800 which can store more\nthan a terabyte of information (a tillion bytes).\n - The Kodak KIMS system 5000, a networked information\nmanagement system using optical disks or microfilm or both.\n -- The Kodak KIMS system 3000, an optical-disk-based system\nthat allows users to integrate optical disks into their current\ninformation management systems.\n -- The Kodak KIMS system 4500, a microfilm-based,\ncomputer-assisted system which can be a starter system.\n Kodak said the optical disy system 6800 is a\nwrite-once/ready-many-times type its Mass Memory Division will\nmarket on a limited basis later this year and in quantity in\n1988.\n Each system 6800 automated disk library can accommodate up\nto 150, 14-inch optical disks. Each disk provides 6.8 gigabytes\nof randomly accessible on-line storage. Thus, Kodak pointed\nout, 150 disks render the more-than-a-terabyte capacity.\n Kodak said it will begin deliveries of the KIMS system 5000\nin mid-1987. The open-ended and media-independent system \nallows users to incorporate existing and emerging technologies,\nincluding erasable optical disks, high-density magnetic media,\nfiber optics and even artificial intelligence, is expected to\nsell in the 700,000 dlr range.\n Initially this system will come in a 12-inch optical disk\nversion which provides data storage and retrieval through a\ndisk library with a capacity of up to 121 disks, each storing\n2.6 gigabytes.\n Kodak said the KIMS system 3000 is the baseline member of\nthe family of KIMS systems. Using one or two 12-inch manually\nloaded optical disk drives, it will sell for about 150,000 dlrs\nwith deliveries beginning in mid-year.\n The company said the system 3000 is fulling compatibal with\nthe more powerful KIMS system 5000.\n It said the KIMS system 4500 uses the same hardware and\nsoftware as the system 5000. It will be available in mid-1987\nand sell in the 150,000 dlr range.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:12:44.89", "places": [ "usa" ], "id": "1041" }, { "title": "BANGOR HYDRO SEEKS RATE CUT", "body": "Bangor Hydro-Electric Cor said it\nhas filed with the Maine Public Utilities Commission (MPUC) for\na two-stage base rate reduction.\n Bangor Hydro said the first stage, which could take effect\non April 1 and would stay effective until the MPUC makes a\nfinal decision on the filing, could cut revenues by 6.149 mln\ndlrs, or 9.7 pct.\n The company said lower federal income taxes and lower\ncapital costs prompted the filing.\n The second stage, Bangor Hydro said, effective when the\nMPUC makes a final decision, calls for an additional revenue\nreduction of 712,000 dlrs, or 1.1 pct.\n Bangor Hydro said, if approved, the cuts would reduce\nresidential base rates by 8.5 pct, with 7.5 pct cut by April 1.\n The utility company also said it is seeking to increase its\nfuel cost adjustment rate by April 1.\n Bangor said if the increase is approved it could offset\nmuch of the base rate cut and may cause a net increase in some\ncustomers' rates.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:14:49.98", "places": [ "usa" ], "id": "1042" }, { "title": "BROWNING-FERRIS WASTE DISPOSAL SITE CLEARED", "body": "Browning-Ferris Industries Inc said the\nColorado Department of Health and the U.S. Environmental\nProtection Agency have awarded the company permits to build and\noperate a hazardous waste disposal site near Last Chance, Colo.\n The company said construction will start this year and take\nabout 12 months, costing about 14 to 16 mln dlrs. It said it\nhas already spent 10 mln dlrs on development costs.\n The site will not accept materials that react rapidly with\nair or water, explosives, shock sensitive materials or\nradioactive wastes, the company said.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:15:06.95", "places": [ "usa" ], "id": "1043" }, { "title": "PHARMACIA AB 1986 YEAR", "body": "Sales 3.65 billion crowns vs 3.40\nbillion.\n Profit after financial items 821.2 mln crowns vs 740.2\nmln.\n The 1986 results include a once-off writedown of 520 mln\ncrowns for intangible assets, mainly the know-how paid for in\nthe takeover of a number of high-tech companies by the group,\nPharmacia said.\n Earnings per share after real tax including the writedown:\n1.94 crowns vs 12.05 crowns.\n Earnings per share after real tax (not including the\nwritedown): 12.38 crowns vs 12.05\n Earnings per American Depository Receipt (ADR) according to\nU.S. Accounting principles after real tax including the\nwritedown): 1.96 crowns vs 9.49 crowns.\n Earnings per ADR according to U.S. Accounting principles\nafter real tax (without the writedown): 9.8 crowns vs 9.49.\n One ADR represents 0.75 pct of one B Free share in\nPharmacia.\n The board proposed a dividend of 1.55 crowns vs 1.25.\n REUTER\n\u0003", "date": " 3-MAR-1987 10:16:12.11", "topics": [ "earn" ], "places": [ "sweden" ], "id": "1044" }, { "title": "VWR CORP FORMS NEW UNIT", "body": "VWR Corp said it has formed a new\nsubsidiary, Momentun Textiles, to handle the distribution of\nupholstery fabrics, leathers and naugahyde to contract and\nconsumer furniture manufacturers.\n It said its VWR Textiles and Supplies unit, which had\nhandled that business, will continue to distribute non-woven\ntextiles, construction fabrics and manufacturing supplies.\n Reuter\n\u0003", "date": "3-MAR-1987 10:16:24.19", "places": [ "usa" ], "id": "1045" }, { "title": "HALLWOOD GROUP OFFICIAL GET SAXON POST", "body": "Saxon Oil Development Partners' Saxon Oil\nCo said its chairman Bill Saxon and chief executive officer\nSteven Saxon have resigned effective immediately.\n Saxon said Anthony Gumbiner, chairman and chief executive\nofficer of The Hallwood Group Inc, succeeds Bill Saxon as\nchairman.\n Hallwood owns a substantial number of shares of preferred\nstock in Saxon which, if converted into common stock, would\nconstitute approximately 37 pct of the company, according to a\nsource.\n Hallwood specializes in bailing out financially troubled\ncompanies and restructuring their debt, according to the\nsource. In exchange sometimes, the group receives a small\nportion of the company's common stock.\n At times, the group also receives a position in the\ncompany, as was the case at Saxon, the source explained.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:17:43.59", "places": [ "usa" ], "id": "1046" }, { "title": "PHARMACIA FORECASTS HIGHER 1987 EARNINGS", "body": "Pharmacia AB forecast\nearnings after financial items of one billion crowns in 1987 vs\n821.2 mln last year on condition that exchange rates remained\nat their present parities.\n Sales would in such circumstances go up to six billion\ncrowns from 3.65 billion in 1986, it said.\n A weakening Dollar was mainly responsible for a five pct\nnegative impact on sales during 1986 which the company blamed\non currency movements.\n Last year's results were also badly hit by a once-off\nwritedown of 520 mln crowns for intangible assets.\n The company said mainly this represented the premium the\ngroup had paid for the know-how of various high-tech firms it\nhad taken over.\n The accounts also showed a financial deficit of 1.87\nbillion crowns vs a deficit of 133 mln which was covered partly\nby drawing down company liquidity to 738 mln vs one billion and\npartly by increasing borrowing to 2.23 billion vs 621 mln.\n Pharmacia said the financial deficit was caused by it\nhaving used more funds than generated by group operations,\nmainly because of the 1.36 billion it paid in cash for shares\nin LKB-Produkter AB and the assets of Intermedics-Intraocular\nInc.\n REUTER\n\u0003", "date": " 3-MAR-1987 10:20:45.46", "topics": [ "earn" ], "places": [ "usa" ], "id": "1047" }, { "title": "BERYLLIUM INT'L SETS JOINT VENTURE WITH COMINCO", "body": "Beryllium International\nCorp said it has signed a joint venture agreement with Cominco\nAmerican Inc, a unit of Cominco Ltd, to develop a beryllium\nmine and processing plant on Beryllium International's property\nin the Topaz Mountains southwest of Salt Lake City.\n Beryllium said as a 49 pct owner of the venture it would be\ncontributing the mine while Cominco, as operator and 51 pct\nowner, would conduct drilling, metallurgical studies, process\ntesting, and other preliminary work for a feasibility study.\n Beryllium said the cost of the preliminary work in 1987,\nwhich will start immediately, should be about 250,000 dlrs to\n300,000 dlrs.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:23:39.80", "places": [ "usa" ], "id": "1048" }, { "title": "CANADA REAL 4TH QTR GDP ROSE 1.1 PCT, AFTER 3RD QTR 1.1 PCT RISE - OFFICIAL\n", "date": " 3-MAR-1987 10:26:35.62", "topics": [ "gnp" ], "places": [ "canada" ], "id": "1049" }, { "title": "CANADA 4TH QTR CURRENT ACCOUNT DEFICIT 2.3 BILLION DLRS VS 3RD QTR 1.9 BILLION DEFICIT - OFFICIAL\n", "date": " 3-MAR-1987 10:29:04.26", "topics": [ "bop" ], "places": [ "canada" ], "id": "1050" }, { "title": "UNITED-GUARDIAN , SIGN CONTRACT", "body": "United-Guardian Inc said it\nsigned a contract with covering the\nexclusive marketing of Warexin, a disinfectant for kidney\ndialysis machines, hospital equipment and instruments.\n Under the contract, United-Guardian said Federal will\ncontinue to supply Hospal, a subsidiary of and\n with all its Warexin requirements.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:29:32.44", "places": [ "usa" ], "id": "1051" }, { "title": "MCLEAN INDUSTRIES UNIT TRANSERS SERVICE", "body": "McLean Industries Inc said its\nshipping subsidiary, United States Lines Inc, reached an\nagreement in principle to transfer its South American service\nto American Transport Lines Inc, a subsidiary of .\n Under the terms of the agreement, United States Lines will\nlease five vessels to American Transport for 15 months with an\noption to extend the period up to 10 years, the company said.\n In return, U.S. Lines will receive a fixed payment and a\npercentage of revenues for at least three years and possibly as\nlong as American Transport utilizes its vessels and conducts\ntrade in South America, the company said.\n The companies will consummate the transactions as soon as\nthe required approvals are obtained, McLean said.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:31:10.05", "topics": [ "ship" ], "places": [ "usa" ], "id": "1052" }, { "title": "PROXMIRE VOWS QUICK ACTION ON U.S. BANKING BILL", "body": "Senate Banking Committee Chairman\nWilliam Proxmire said modified legislation to help a federal\ndeposit insurance fund and prohibit new limited-service banks\nand thrifts could be ready for a Senate vote in two to three\nweeks.\n Proxmire said he agreed to demands from committee members\nfor a one-year moratorium on granting new business powers\nsought by commercial banks to increase the bill's chances.\n In its new form, the bill would proscribe regulators from\ngranting new powers to banks, Proxmire told reporters after a\nspeech to the U.S. League of Savings Institutions.\n A vote on the bill by the committee is scheduled for\nThursday. If approved it will go to the full Senate.\n \"I have spoken to the majority leader and he has agreed to\nbring it up promptly on the Senate floor in two or three weeks,\"\nProxmire told the thrift executives.\n The bill would recapitalize the Federal Savings and Loan\nInsurance Corp fund with 7.5 billion dlrs.\n It also would prohibit establishment of new nonbank banks\nand nonthrift thrifts, so-called because they provide financial\nservices but do not meet the regulatory definition of both\nmaking loans and receiving deposits.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:32:15.36", "places": [ "usa" ], "id": "1053" }, { "title": "U.S. LARD CONSUMPTION IN JANUARY", "body": "U.S. factory usage of lard in the\nproduction of both edible and inedible products during January\ntotaled 21.3 mln lbs, vs a revised 25.6 mln lbs in December,\naccording to Census Bureau figures.\n In the year-earlier period, usage, which includes\nhydrogenated vegetable and animal fats and other oils in\nprocess, amounted to 33.3 mln lbs.\n Usage in January comprised 15.7 mln lbs of edible products\nand 5.6 mln lbs of inedible products.\n Total lard usage in the 1986/87 marketing season, which\nbegan October 1, amounted to 104.3 mln lbs, vs 154.2 mln lbs in\nthe year-ago period.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:33:48.56", "places": [ "usa" ], "id": "1054" }, { "title": "SOCIETE GENERALE DUTCH UNIT LAUNCHES CD PROGRAMME", "body": "The Amsterdam unit of French bank\nSociete Generale said it is launching a 50-mln guilder, five\nmonth certificate of deposit programme starting March 6 and\nending September 7.\n Denominations will be in one mln guilders. The price is to\nbe set on March 4, issue date is March 6 and redemption at par\nis on September 7.\n Subscriptions are to be placed with Societe Generale,\nOolders en de Jong C.V or Haighton en Ruth B.V. A global note\nfor the issue will be deposited with the Dutch central bank.\n REUTER\n\u0003", "date": " 3-MAR-1987 10:34:47.47", "places": [ "netherlands" ], "id": "1055" }, { "title": "MONY FUNDING ISSUES 125 MLN DLR EUROBOND", "body": "Mony Funding Inc is issuing a 125 mln dlr\neurobond due April 7, 1997 paying 8-1/8 pct and priced at\n101-1/2 pct, sole lead manager Citicorp Investment Bank Ltd\nsaid.\n The non-callable bond is guaranteed by Mutual Life\nInsurance Co of the U.S. And is available in denominations of\n5,000 dlrs and will be listed in Luxembourg. The selling\nconcession is 1-3/8 pct while management and underwriting\ncombined pays 5/8 pct.\n The payment date is April 7.\n REUTER\n\u0003", "date": " 3-MAR-1987 10:35:22.38", "places": [ "uk" ], "id": "1056" }, { "title": "SMALL QUANTITY OF UK WHEAT SOLD TO HOME MARKET", "body": "A total of 2,435 tonnes of British\nintervention feed wheat were sold at today's tender for the\nhome market out of requests for 3,435 tonnes, the Home Grown\nCereals Authority, HGCA, said.\n Price details were not reported.\n No bids were submitted for intervention barley.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:37:40.72", "topics": [ "grain", "wheat" ], "places": [ "uk" ], "id": "1057" }, { "title": "CANADA DECEMBER GDP UP 1.2 PCT AFTER NOVEMBER'S 0.2 PCT FALL - OFFICIAL\n", "date": " 3-MAR-1987 10:38:18.98", "topics": [ "gnp" ], "places": [ "canada" ], "id": "1058" }, { "title": "FIRST FEDERAL SAVINGS YEAR NET", "body": "Shr 78 cts vs one dlr\n Net 1,413,000 vs 1,776,000\n Assets 705.3 mln vs 597.3 mln\n Deposits 495.6 mln vs 493.9 mln\n Loans 260.0 mln vs 379.7 mln\n Qtly div six cts vs six cts prior qtr\n Pay April 1 \n Record March 6\n NOTE: 1986 net includes charges from accounting changes,\nfrom one-time expenses associated with a proxy contest and an\nincrease in loan reserves.\n First Federal Savings and Loan Association of Kalamazoo is\nfull name of company.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:38:44.01", "topics": [ "earn" ], "places": [ "usa" ], "id": "1059" }, { "title": "BOEING SAYS ORDER WORTH ONE BILLION DLRS", "body": "Boeing Co said its order for 15\nextended-range 767-300's from AMR Corp is worth over one\nbillion dlrs.\n The company said AMR is its first customer for the\n767-300ER twinjet, a derivative of its 767-200 designed for\nincreased passenger and cargo capability on flights of up to\n6,600 miles. It said the first delivery is scheduled for\nFebruary 1988 and the jet will seat 215 in tri-class\nconfiguration.\n Boeing said it now has orders for 47 767-300's.\n In New York, said AMR is also the launch\ncustomer for its A300-600R widebody.\n AMR today announced the order of 15 of the Boeing and 25 of\nthe Airbus twinjets.\n Airbus said in AMR's configuration, the A300-600R will seat\n16 in first class and 251 in economy. Deliveries will be made\nbewtween April 1988 and June 1989.\n Airbus did not disclose the value of the order.\n Boeing said AMR will operate the 767's on North Atlantic\nroutes, while Airbus said AMR will operate the A300's on\nCaribbean routes.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:39:00.13", "places": [ "usa" ], "id": "1060" }, { "title": "INLAND FILES FOR 1.5 MLN SHARES OFF", "body": "Inland Steel Industries Inc said it\nregistered with the Securities and Exchange Commission for a\nproposed public offering of 1.5 mln shares of Series C\ncumulative convertible exchangeable preferred shares, 50 dlrs a\nshare liquidation value.\n Goldman Sachs and Co and First Boston Corp are\nunderwriters. They have an option to buy 225,000 additional\nshares to cover overallotments.\n Proceeds are for general corporate purposes, including to\nfund a portion of the investment needed for a continuous cold\nmill joint venture under discussion with Nippon Steel Corp.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:40:22.86", "places": [ "usa" ], "id": "1061" }, { "title": " HAS UNAUTHORIZED ACCOUNT ACTION", "body": "Acustar Corp said it has\ndiscovered significant unauthorized activity in its corporate\naccounts but has not yet determined the full extent of the\nproblem.\n It said it has requested that all over-the-counter trading\nin its stock be halted until it can make a further\nannouncement. An investigation is underway, it said.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:40:34.06", "places": [ "usa" ], "id": "1062" }, { "title": "TOLL BROTHERS INC 1ST QTR JAN 31 NET", "body": "Shr 22 cts vs 12 cts\n Net 3,243,000 vs 1,656,000\n Revs 28.4 mln vs 21.5 mln\n NOTE: All amts reflect 3-for-2 stock split of company's\ncommon in form of 50 pct stock dividend paid Feb 26, 1987.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:41:05.96", "topics": [ "earn" ], "places": [ "usa" ], "id": "1063" }, { "title": "UNICORP AMERICAN IN JOINT VENTURE", "body": "Unicorp American Corp said it has\nformed a joint venture with Sybedon Corp, a New York real\nestate investment banking firm, to pursue real estate projects.\n It said a total of 20 mln dlrs is being committed to the\njoint venture.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:41:11.13", "places": [ "usa" ], "id": "1064" }, { "title": "PILLSBURY CO VOTES QUARTERLY DIVIDEND", "body": "Qtly div 25 cts vs 25 cts prior qtr\n Pay 31 May\n Record 1 May\n Reuter\n\u0003", "date": " 3-MAR-1987 10:41:36.86", "topics": [ "earn" ], "places": [ "usa" ], "id": "1065" }, { "title": "BERKSHIRE GAS CO PAYS REGULAR QTLRY DIV", "body": "Qtrly div 28.5 cts vs 28.5 cts\n Pay April 15\n Record March 31\n Reuter\n\u0003", "date": " 3-MAR-1987 10:41:41.92", "topics": [ "earn" ], "places": [ "usa" ], "id": "1066" }, { "title": "U.K. WHEAT AND BARLEY EXPORTS ADJUSTED UPWARDS", "body": "The U.K. Exported 535,460 tonnes of wheat\nand 336,750 tonnes of barley in January, the Home Grown Cereals\nAuthority (HGCA) said, quoting adjusted Customs and Excise\nfigures.\n Based on the previous January figures issued on February 9,\nwheat exports increased by nearly 64,000 tonnes and barley by\nabout 7,000 tonnes.\n The new figures bring cumulative wheat exports for the\nperiod July 1/February 13 to 2.99 mln tonnes, and barley to\n2.96 mln compared with 1.25 and 1.89 mln tonnes respectively a\nyear ago.\n January wheat exports comprised 251,000 tonnes to European\nCommunity destinations and 284,000 tonnes to third countries.\n The Soviet Union was prominent in third country\ndestinations, taking 167,700 tonnes while Poland was credited\nwith 54,500 and South Korea 50,000 tonnes. Italy was the\nlargest EC recipient with 75,000 tonnes followed by West\nGermany with 55,200 and France 52,000 tonnes.\n Barley exports for January comprised 103,700 tonnes to the\nEC and 233,000 to third countries. The Soviet Union was the\nlargest single importer with 133,265 tonnes followed by Saudi\nArabia with 53,800 tonnes.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:44:50.56", "topics": [ "grain", "wheat", "barley" ], "places": [ "uk", "ussr" ], "id": "1067" }, { "title": "CANADA GDP RISES 3.1 PCT IN 1986", "body": "Canada's real gross domestic product,\nseasonally adjusted, rose 1.1 pct in the fourth quarter of\n1986, the same as the growth as in the previous quarter,\nStatistics Canada said.\n That left growth for the full year at 3.1 pct, which is\ndown from 1985's four pct increase.\n The rise was also slightly below the 3.3 pct growth rate\nFinance Minister Michael Wilson predicted for 1986 in\nFebruary's budget. He also forecast GDP would rise 2.8 pct in\n1987.\n Statistics Canada said final domestic demand rose 0.6 pct\nin the final three months of the year after a 1.0 pct gain in\nthe third quarter.\n Business investment in plant and equipment rose 0.8 pct in\nthe fourth quarter, partly reversing the cumulative drop of 5.8\npct in the two previous quarters.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:46:56.99", "topics": [ "gnp" ], "places": [ "canada" ], "id": "1068" }, { "title": "EAST EUROPE WHEAT WINTERKILL POSSIBLE, ACCU SAYS", "body": "Winter wheat crops in the\nwestern Soviet Union, Poland and eastern Czechoslovakia through\nnorthern Romania may suffer some winterkill over the next two\nnights, private forecaster Accu-Weather Inc said.\n Western USSR winter wheat areas have had only light and\nspotty snow and winterkill is possible tonight and tomorrow\nnight as temperatures drop to minus 10 to 0 degrees F.\n Snow cover is scant in Poland, with only about 50 pct of\nthe winter wheat areas reporting one to two inches of snow as\nof this morning.\n The remaining 50 pct of winter wheat crops do not have snow\ncover, making winterkill possible on each of the next two\nnights. Lowest temperatures will be minus 10 to 0 degrees F.\n Winter wheat areas from eastern Czechoslovakia through\nnorthern Romania had light snow flurries yesterday and last\nnight, but amounts were an inch or less. With temperatures\nexpected to fall to near 0 degrees F over the next two nights,\nsome light winterkill is possible, Accu-Weather added.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:47:04.45", "topics": [ "grain", "wheat" ], "places": [ "ussr", "poland", "czechoslovakia", "romania" ], "id": "1069" }, { "title": "CHARMING SHOPPES INC 4TH QTR JAN 31 NET", "body": "Shr 28 cts vs 22 cts\n Net 14 mln vs 10.6 mln\n Revs 163.8 mln vs 127.3 mln\n Year\n Shr 81 cts vs 59 cts\n Net 40.5 mln vs 28.7 mln\n Revs 521.2 mln vs 391.6 mln\n Reuter\n\u0003", "date": " 3-MAR-1987 10:51:22.13", "topics": [ "earn" ], "places": [ "usa" ], "id": "1070" }, { "title": "PANSOPHIC SYSTEMS SPLITS STOCK 2-FOR-1", "body": "Pansophic Systems Inc said it\nwill split its stock two-for-one effective April two to\nshareholders of record March 13.\n It also said it will pay a six cts per share dividend on\nthe pre-split shares, a regular quarterly dividend, on April\ntwo to shareholders of record March 13.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:51:40.11", "topics": [ "earn" ], "places": [ "usa" ], "id": "1071" }, { "title": "LAC INTERSECTS MORE GOLD AT DOYON MINE", "body": "Lac Minerals Ltd and said\nthey completed a second hole at their jointly owned Doyon mine\nin Quebec, which showed two significant gold intersections.\n One intersection graded 0.33 ounce gold a short ton over 44\nfeet at depth of 1,411 feet, while the other graded 0.22 ounce\ngold a ton over 23 feet at 2,064 feet, the companies said. The\nhole is 460 feet east of the previously reported first hole.\n They said they were now drilling another hole 460 feet to\nthe west of the first drill hole and expected to report results\nin late March or early April.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:53:04.16", "topics": [ "gold" ], "places": [ "canada" ], "id": "1072" }, { "title": "AMR DISCOUNTS TALK ON PAN AM DEAL", "body": "AMR Corp chairman Robert Crandall,\ndenying industry speculation, said the company is not\ninterested in acquiring shuttle routes in the northeast region\nof the U.S. from Pan Am Corp.\n But in remarks at a press conference announcing a major\naircraft order, he said AMR would be interested in certain\nother Pan Am assets. But he noted that none had been made\navailable.\n Pan Am earlier today announced an order for 40 new aircraft\nfrom Boeing Co and , a European\nconsortium, for an estimated 2.5 billion dlrs.\n AMR, the parent of American Airlines, has said it is not\ninterested in acquiring Pan Am as a whole and Crandall\nreiterated that position today.\n \"Assets are one thing, and companies are another,\" Crandall\nsaid, referring to the possibility of acquiring assets from Pan\nAm.\n He said Pan Am has not offered its transatlantic routes for\nsale, adding that it would not make much sense for them to do\nso.\n \n Reuter\n\u0003", "date": " 3-MAR-1987 10:56:04.53", "places": [ "usa" ], "id": "1073" }, { "title": "CALMAR SEEKS TO BE ACQUIRED BY ", "body": "Calmar Inc said KEBOO Ab of\nSweden, which now owns about 64 pct of Calmark, has approved\nthe acquisition of remaining Calmar shares at 25.375 dlrs in\ncash at the request of the Calmar board.\n Calmar said a special meeting of its board will be held\nMarch Nine to form a special committee of directors not\naffiliated with KEBO to evaluate the transaction.\n KEBO is in turn 60 pct owned by of\nSweden.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:58:14.10", "topics": [ "acq" ], "places": [ "usa" ], "id": "1074" }, { "title": " INITIAL OFFERING STARTS", "body": "Fruit of the Loom Inc said an initial\npublic offering of 27 mln Class A common shares is underway at\nnine dlrs per share through underwriters led by , Merrill Lynch and Co Inc , E.F. Hutton Group\nInc and Sears, Roebuck and Co Inc's Dean Witter\nReynolds Inc unit.\n Reuter\n\u0003", "date": " 3-MAR-1987 10:59:14.04", "places": [ "usa" ], "id": "1075" }, { "title": "ITALY'S BNL NEGOTIATING PURCHASE OF GERMAN BANK", "body": "Italy's state-owned said it is negotiating to buy a West German bank as\npart of its foreign expansion policy.\n BNL president Nerio Nesi told a news conference the Italian\nbank was currently involved in talks but declined to name the\nGerman institution.\n He said the takeover move could be seen as BNL's reply to\nDeutsche Bank AG , which entered the Italian market in\nDecember 1986, with the purchase of BankAmerica \nsubsidiary .\n Nesi said BNL had also approved a 200 mln dlr credit line\nto the Soviet Union aimed at enabling Soviet companies to pay\nfor Italian imports. He gave no further details.\n BNL officials said the group had also decided to increase\nits activities in the Soviet Union by opening a representative\noffice in Moscow this month through its subsidiary ,\nwhich specialises in Italian-Soviet trade.\n REUTER\n\u0003", "date": " 3-MAR-1987 11:00:25.62", "topics": [ "acq" ], "places": [ "italy", "west-germany", "ussr" ], "id": "1076" }, { "title": "THREE KILLED IN SOUTH AFRICA ZINC REFINERY CLASH", "body": "Three black workers were killed and\nseven injured in fighting at a South African zinc refinery last\nnight, Gold Fields of South Africa Ltd said.\n The company said two groups of workers began attacking each\nother at about 1000 local time with machetes, knives and sticks\nat a hostel at the Zincor plant, some 40 kms east of\nJohannesburg.\n It said the fighting was \"quelled\" after 25 minutes by its\nown security staff. Police were called but the fighting had\nended by the time they arrived.\n A company spokesman said he had no idea of the cause of the\nfighting. An investigation was underway, he said.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:03:13.11", "topics": [ "zinc" ], "places": [ "south-africa" ], "id": "1077" }, { "title": "FED EXPECTED TO ADD TEMPORARY RESERVES", "body": "The Federal Reserve is expected to\nenter the U.S. Government securities market to add temporary\nreserves, economists said.\n They expect it to supply the reserves indirectly by\narranging 1.5 to two billion dlrs of customer repurchase\nagreements. The Fed may add the reserves directly instead via\nSystem repurchases.\n Federal funds, which averaged 6.18 pct yesterday, opened at\n6-3/16 pct and stayed there in early trading. Analysts said the\nrate is under upward pressure partly from settlement of 8.25\nbillion dlrs of five-year Treasury notes.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:05:14.96", "topics": [ "interest" ], "places": [ "usa" ], "id": "1078" }, { "title": "EC INDUSTRY OUTPUT GROWTH SLOWS IN 1986", "body": "European Community industrial output\nincreased by an average of around two pct last year, compared\nwith 3.3 pct growth recorded in 1985 against a year earlier,\nthe EC statistics office Eurostat said.\n Growth was highest in Portugal at five pct, while in Greece\noutput contracted by 0.3 pct, Eurostat said in a statement.\n Eurostat noted output growth also fell in the U.S. And\nJapan. U.S. Production increased 1.1 pct after 2.0 pct in 1985,\nwhile in Japan output contracted by 0.5 pct after rising 4.5\npct a year earlier.\n Eurostat said EC industrial production in December rose 3.1\npct compared with 12 months earlier but added that after\nadjustment for seasonal factors, output growth had been clearly\nslowing down since the beginning of the summe\n REUTER\n\u0003", "date": " 3-MAR-1987 11:06:57.66", "topics": [ "ipi" ], "organisations": [ "ec" ], "places": [ "belgium" ], "id": "1079" }, { "title": "LSB INDUSTRIES INC 4TH QTR NET", "body": "Shr profit five cts vs loss 2.11 dlrs\n Net profit 375,061 vs loss 10.4 mln\n Revs 39.9 mln vs 37.8 mln\n Avg shrs 6,536,008 vs 4,939,895\n 12 mths\n Shr profit 47 cts vs loss 3.37 dlrs\n Net profit 2,837,288 vs loss 16.6 mln\n Revs 169.1 mln vs 149.4 mln\n Avg shrs 6,037,640 vs 4,937,378\n NOTE: primary earnings per share are based on the weighted\naverage number of common and dilutive common equivalent shares\noutstanding during each period after accounting for preferred\nstock dividends.\n The qtr and year 1985 includes a 6,000,000 provision for\nrestructuring costs related to the sale of its Energy business\nand parts of its Bearing business.\n The qtr and year 1986 includes charges of 1,200,000 and\n5,200,000, respectively, for restructuring costs and operating\nlosses which were charged against the previously provided\naccruals for restructuring costs.\n The qtr and year 1986 includes deferred income taxes of\n244,000 and 785,000, respectively.\n Year net 1986 includes operations of Friedrich Climate\nMaster Inc, which the company acquired in August 1985, for the\nfull period, while the comparable period for 1985 includes only\noperations from August 16, 1985, to Dec 31, 1985.\n Third qtr 1986 Includes extraodinary tax gain of 270,000 \nfrom early extinquishment of certain drafts payable.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:07:09.72", "topics": [ "earn" ], "places": [ "usa" ], "id": "1080" }, { "title": "GM HOPES FOR FIVE-FOLD RISE IN EUROPEAN SALES", "body": "U.S. Carmaker General Motors hopes to\nsell between 7,000 and 8,000 vehicles in Europe this year, a\nfive-fold rise over the year before, James Fry, vice-president\nof GM Overseas Distribution Corporation told a news briefing.\n \"The low dollar makes our prices very attractive,\" he said at\na GM preview before the opening of the Geneva Motor Show.\n \"We would like to sell between 7,000 and 8,000 units in\nEurope for the year to August 1987,\" he told Reuters later.\nOfficials said GM sold 1,500 vehicles in the 1986 model year.\n Fry said that at an average price of 13,000 dlrs, his\nprojected sales figures would mean turnover of between 91 mln\nand 104 mln dlrs in Europe.\n GM sales in Europe in the 1985 model year totalled 500\nvehicles, due largely to uncompetitive prices because of the\nthen strong dollar, Fry said.\n All GM vehicles sold in Europe are manufactured in the\nUnited States and Canada, he said, adding that most sales were\nin Switzerland followed by Sweden and West Germany.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:07:31.92", "places": [ "usa", "switzerland" ], "id": "1081" }, { "title": "MORE GOLD DETECTED AT DOYON MINE", "body": "Lac Minerals Ltd and Cambior Inc said\nthey completed a second hole at their jointly owned Doyon mine\nin Quebec, which showed two significant gold intersections.\n One intersection graded 0.33 ounce gold per short ton over\n44 feet at depth of 1,411 feet, while the other graded 0.22\nounce gold per ton over 23 feet at 2,064 feet, the companies\nsaid. The hole is 460 feet east of the previously reported\nfirst hole.\n Another hole is being drilled 460 feet to the west of the\nfirst drill hole and results are expected in late March or\nearly April.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:07:42.14", "topics": [ "gold" ], "places": [ "canada" ], "id": "1082" }, { "title": "PIZZA INN TO MAKE ANNOUNCEMENT", "body": "Pizza Inn Inc said it will be making an\nannouncement sometime this morning.\n The company declined to discuss details of the\nannouncement.\n The American Stock Exchange delayed trading Pizza Inn\nshares this morning for news pending.\n Pizza Inn recently received a buyout proposal from Concept\nDevelopment Inc for an exchange of stock and cash,\nsubject to Concept's ability to get the necessary financing.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:08:06.12", "places": [ "usa" ], "id": "1083" }, { "title": "GULF RESOURCES AND CHEMICAL CORP 4TH QTR", "body": "Oper shr profit 34 cts vs loss 53 cts\n Oper net profit 3,337,000 vs 4,881,000\n Revs 32.7 mln vs 49.6 mln\n Year\n Oper shr profit 20 cts vs loss 90 cts\n Oper net profit 2,374,000 vs loss 9,381,000\n Revs 126.9 mln vs 160.5 mln\n NOTES: Operating net excludes loss 6,050,000 dlrs, or 64\ncts a share, vs loss 24,839,000 dlrs, or 2.61 dlrs a share, in\nquarter and loss 6,050,000 dlrs, or 64 cts a share, vs profit\n64,013,000 dlrs, or 6.27 dlrs a share, from discontinued\noperations\n 1986 loss from discontinued operations includes 6.0 mln\ndlrs charge, equal to 64 cts a share, to provide for additional\nliabilities resulting from the 1981 closure of lead, zinc and\nsilver mining, smelting and refining business\n 1986 year operating net includes pre-tax gain of 5.3 mln\ndlrs, equal to 56 cts a share, from pension plan termination\nand gain of 5.2 mln dlrs, or 56 cts a share, from reduction in\ndeferred taxes\n Effective Jan 1, 1987, company changed oil and gas\naccounting to successful efforts from full cost, increasing\n1986 year net 9.2 mln dlrs, or 98 cts a share, and increasing\n1985 loss 4.3 mln dlrs, or 43 cts a share. The cumulative\neffect of the change was to decrease retained earnings at Dec\n31, 1986, by 14.0 mln dlrs\n Reuter\n\u0003", "date": " 3-MAR-1987 11:08:29.13", "topics": [ "earn" ], "places": [ "usa" ], "id": "1084" }, { "title": "COFFEE TALKS COLLAPSE EASES NEED FOR U.S. BILL", "body": "The collapse of International Coffee\nOrganization, ICO, talks on export quotas yesterday removes the\nimmediate need to reinstate U.S. legislation allowing the\ncustoms service to monitor coffee imports, analysts here said.\n The Reagan administration proposed in trade legislation\noffered Congress last month that authority to monitor coffee\nimports be resumed. That authority lapsed in September 1986. A\nbill also was introduced by Rep. Frank Guarini (D-N.J.).\n However, the failure of the ICO talks in London to reach\nagreement on export quotas means the U.S. legislation is not\nimmediately needed, one analyst said. Earlier supporters of the\ncoffee bill hoped it could be passed by Congress quickly.\n \"You're going to have a hard time convincing Congress (now)\nthis is an urgent issue,\" the coffee analyst said.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:09:05.07", "topics": [ "coffee" ], "organisations": [ "ico-coffee" ], "places": [ "usa" ], "id": "1085" }, { "title": "SCOTIA MORTGAGE ISSUES 100 MLN CANADIAN DLR BOND", "body": "Scotia Mortgage Corp is issuing a 100 mln\nCanadian dlr eurobond due April 9, 1992 paying 8-3/4 pct and\npriced at 100-3/4 pct, lead manager Wood Gundy Ltd said.\n The non-callable bond is available in denominations of\n1,000 and 10,000 Canadian dlrs and will be listed in\nLuxembourg. It is guaranteed by the Bank of Nova Scotia. The\nselling concession is 1-1/4 pct, while management pays 1/4 pct\nand underwriting pays 3/8 pct.\n The payment date is April 8 and there will be a long first\ncoupon period.\n REUTER\n\u0003", "date": " 3-MAR-1987 11:09:39.26", "places": [ "uk" ], "id": "1086" }, { "title": "PANSOPHIC SYSTEMS INC 3RD QTR JAN 31 NET", "body": "Shr 70 cts vs 56 cts\n Net 6,197,000 vs 4,880,000\n Revs 24.1 mln vs 17.1 mln\n Nine mths\n Shr 1.38 dlrs vs 1.20 dlrs\n Net 12.1 mln vs 10.4 mln\n Revs 52.5 mln vs 41.8 mln\n Reuter\n\u0003", "date": " 3-MAR-1987 11:10:29.14", "topics": [ "earn" ], "places": [ "usa" ], "id": "1087" }, { "title": "FORMER TREASURY OFFICIAL URGES CURRENCY REFORMS", "body": "Former Treasury official C. Fred\nBergsten said a new exchange rate system is needed to replace\nthe fixed and flexible exchange rate systems which he said had\nnot worked.\n \"I prefer a move to 'target zones' in which the major\ncountries would determine ranges of 15-20 pct within which they\nwould pledge to hold their exchange rates by direct\nintervention and, as necessary, by changes in monetary and\nother policies,\" Bergsten, now the director of the Institute\nfor International Economics, said in a statement to a House\nBanking subcommittee.\n \"The substantial correction of the exchange rate that has\noccurred since early 1985 is enormously welcome, and should\nproduce a sizeable reduction in the U.S. trade deficit this\nyear and next, but the imbalance will not fall much below 100\nbillion dlrs on present policies, so much more is needed,\" he\nsaid.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:10:54.08", "topics": [ "money-fx" ], "places": [ "usa" ], "id": "1088" }, { "title": "SCOTIA MORTGAGE ISSUES 100 MLN CANADIAN DLR BOND", "body": "Scotia Mortgage Corp is issuing a 100 mln\nCanadian dlr eurobond due April 9, 1992 paying 8-3/4 pct and\npriced at 100-3/4 pct, lead manager Wood Gundy Ltd said.\n The non-callable bond is available in denominations of\n1,000 and 10,000 Canadian dlrs and will be listed in\nLuxembourg. It is guaranteed by the Bank of Nova Scotia. The\nselling concession is 1-1/4 pct, while management pays 1/4 pct\nand underwriting pays 3/8 pct.\n The payment date is April 8 and there will be a long first\ncoupon period.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:12:24.65", "places": [ "canada" ], "id": "1089" }, { "title": "KNUTSON MORTGAGE CORP SETS QUARTERLY", "body": "Qtly div 10 cts vs 10 cts prior\n Pay April 13\n Record March 13\n Reuter\n\u0003", "date": " 3-MAR-1987 11:12:59.90", "topics": [ "earn" ], "places": [ "usa" ], "id": "1090" }, { "title": "FORD MOTOR CO OF CANADA LTD 4TH QTR SHR 8.17 DLRS VS 55 CTS\n", "date": " 3-MAR-1987 11:13:46.07", "topics": [ "earn" ], "places": [ "canada" ], "id": "1091" }, { "title": "AUSIMONT COMPO TO CHANGE NAME", "body": "Ausimont Compo NV said it will\nchange its name to Ausimont NV on May Six, subject to\nshareholder approval.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:13:55.82", "places": [ "usa" ], "id": "1092" }, { "title": "SYRIA SAYS ISRAEL BLOCKS CITRUS EXPORT FROM GAZA", "body": "Syria has complained to the\nUnited Nations that Israeli occupation authorities were\nblocking the export of citrus fruit from the Gaza Strip to the\ncountries of the European Community, EC.\n In a letter to Secretary General Javier Perez de Cuellar,\npublished here today, Syrian U.N. charge d'affaires Abdul\nMou'men Al-Atassi said: \"These measures threaten to create a\nslump in citrus production, which constitutes the primary\nsource of income in the Gaza Strip....They are causing heavy\nlosses to farmers and all those working in the field of citrus\nproduction and threaten to bring about economic disaster.\"\n The Syrian envoy said the Israel action was a violation of\nthe Geneva Conventions, the U.N. Charter and the \"legitimacy of\nthe economic rights endorsed by the United Nations.\"\n The Gaza Strip, occupied by Egypt in the 1948 Arab-Israel\nwar, was captured by Israel in the 1967 Middle East war.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:14:17.27", "places": [ "syria", "israel" ], "id": "1093" }, { "title": "YUGOSLAVIA WHEAT FREE OF WINTERKILL - USDA", "body": "There was no evidence of winterkill\nin Yugoslavian winter wheat during field travel along a line\nrunning northwest from Belgrade to near Maribor, the U.S.\nAgriculture Department's counselor in Belgrade said in a field\nreport.\n The report, dated February 26, said there is evidence of\ndelayed germination in most areas due to late seeding last fall\nbecause of dry conditions.\n However warm temperatures over the past three weeks have\npromoted some early growth and will help the crop catch up on\nlast fall's late seeding, it said.\n Some Yugoslav agriculture officials are concerned about the\nsituation because warm temperatures have brought the grain out\nof dormancy and taken away snow protection a little early, the\nreport said.\n Cold temperatures over the next month could cause damage\nunder these conditions, they said.\n The report said all wheat farmers contacted during the\nfield trip were optimistic about the crop and the way it\nemerged from winter.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:14:46.57", "topics": [ "grain", "wheat" ], "places": [ "usa", "yugoslavia" ], "id": "1094" }, { "title": "ATT SETS SOME PHONE EQUIPMENT DISCOUNTS", "body": "American Telephone and\nTelegraph Co said small businesses can win up to a 10 pct\ndiscount on telephone equipment under a new program.\n According to the America's Choice Bonus Program, customers\nthat rent certain phone systems can earn credits each time they\npay their monthly or fixed term lease bills.\n The credits can be used in the purchase of ATT products,\nincluding communications systems and the System 25 PBX, a\ntelephone switch for voice and data communications. Customers\nwill receive a 50 dlrs initial credit, and additions to their\naccount equivalent to 10 pct of their rental payments.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:14:54.99", "places": [ "usa" ], "id": "1095" }, { "title": "AUSIMONT COMPO NV 4TH QTR NET", "body": "Shr 42 cts vs 39 cts\n Net 12.3 mln vs 9,382,000\n Sales 172.0 mln vs 146.00 mln\n Avg shrs 29.5 mln vs 24.3 mln\n Year\n Shr 1.63 dlrs vs 1.35 dlrs\n Net 45.7 mln vs 30.0 mln\n Sales 665.5 mln vs 446.2 mln\n Avg shrs 28.0 mln vs 22.3 mln\n NOTE: translated at 1,339 Italian lire to dollar.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:15:00.11", "topics": [ "earn" ], "places": [ "usa" ], "id": "1096" }, { "title": "LYPHOMED IN JOINT MARKETING PACT", "body": "LyphoMed Inc said it has\ntentatively agreed to form a joint venture with privately-held\nNovopharm Ltd of Canada whereby each will market the other's\ndrug in their home country.\n LyphoMed will sell Novopharm's oral pharmaceutical drugs in\nthe U.S. and Novopharm will sell Lyphomed's injectable\npharmaceutical drugs in Canada, it said.\n The joint venture gives LyphoMed entry into the hospital\nand retail oral pharmaceutical market with Novopharm's product\nline. Novopharm in turn will strengthen its position in the\nCanadian hospital market using LyphoMed's injectable products.\n The first product to be marketed will be cephalexin\nmonohydrate, now marketed by Eli Lilly Co as Keflex, a\nproduct whose patent expires in April. Keflex is an antibiotic\nwith a current market in excess of 250 mln dlrs. It will be\nmade by Novopharm in Canada, sold to the new joint venture, and\ndistributed by LyphoMed in the U.S., it said.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:15:13.30", "places": [ "usa", "canada" ], "id": "1097" }, { "title": "REGAL INT'L HOLDS BELL PETROLEUM OPTION", "body": "Bell Petroleum Services Inc,\ncurrently in Chapter 11, said Regal International Inc has\nacquired an option to buy its secured notes held by its banks.\n Bell said Regal also expressed interest in discussing an\nacquisition offer, but Bell's board rejected the offer, saying\nit wanted to remain independent and proceed with its chapter 11\nreorganization.\n The company said that its ability to reorganize will be\nhampered because a major competitor now holds an option on its\nnotes.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:15:38.15", "places": [ "usa" ], "id": "1098" }, { "title": "NORTON TO SELL SOUTH AFRICAN OPERATIONS", "body": "Norton co said it has agreed to\nsell its remaining South African business, Norton co Pty Ltd,\nto of South africa for\nundisclosed terms.\n The company said the unit accounts for less than two pct of\nNorton revenues and is being sold because \"Growing societal\npressures in the United States and the unsettled situation in\nsouth Africa had required a disproportionate amount of\nmanagement tiome to oversee.\"\n Norton said the unit is profitable. \n Norton said it will provide the South Afrcian unit with\nfuture technical support, and products makde under that\nagreement will continue to be marketed under the Norton\ntrademark.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:16:08.30", "topics": [ "acq" ], "places": [ "usa", "south-africa" ], "id": "1099" }, { "title": "CANADA CURRENT ACCOUNT DEFICIT UP IN QUARTER", "body": "Canada's current account deficit widened\nto a seasonally adjusted 2.27 billion dlrs in the fourth\nquarter from a deficit of 1.94 billion dlrs in the third,\nStatistics Canada said.\n The shortfall for the full year rose to 8.81 billion dlrs\nfrom 1985's 584 mln dlr deficit, the federal agency said.\n The agency said the rise in the merchandise surplus, to\n2.77 billion dlrs from 2.20 billion dlrs in the third quarter,\nwas more than offset by high deficits in servicies and\ninvestment. The total non-merchandise deficit grew to 5.04\nbillion dlrs from 4.14 billion dlrs.\n The current account deficit was 912 mln dlrs in the fourth\nquarter of 1985.\n In the capital account, not seasonally adjusted, there was\na total net inflow of 4.76 billion dlrs in the fourth quarter,\nup from a net inflow of 3.22 billion dlrs in the third quarter\nquarter.\n The total net capital inflow rose to 13.74 billion dlrs in\n1986 from 7.68 billion dlr in 1985.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:18:52.62", "topics": [ "bop" ], "places": [ "canada" ], "id": "1100" }, { "title": "HOME FEDERAL OF THE ROCKIES 4TH QTR LOSS", "body": "Shr loss 2.07 dlrs vs profit 36 cts\n Net loss 1,088,000 vs profit 187,000\n Year\n Shr loss 12.23 dlrs vs profit 17 cts\n Net loss 645,000 vs profit 89,000\n NOTE: Home Federal Savings and Loan Association of the\nRockies.\n 1986 net includes tax credits of 165,000 dlrs in quarter\nand 189,000 dlrs in year.\n Net includes pretax loan loss provisions of 1,439,000 dlrs\nvs 127,000 dlrs in quarter and 1,701,000 dlrs vs 222,000 dlrs\nin year.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:20:13.22", "topics": [ "earn" ], "places": [ "usa" ], "id": "1101" }, { "title": "CANADA DECEMBER GDP GAINS 1.2 PCT", "body": "Canada's gross domestic product, by\nindustry, rose a seasonally adjusted 1.2 pct in December, the\nlargest monthly gain since April, 1986, Statistics Canada said.\n GDP, which fell 0.2 pct in November, was 2.1 pct above the\nDecember, 1985 level, the federal agency said.\n Output of goods producing industries rose 1.6 pct in the\nmonth, with virtually all the growth occurring in manufacturing\nand mining. Services producing industries expanded 1.0 pct.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:20:31.19", "topics": [ "gnp" ], "places": [ "canada" ], "id": "1102" }, { "title": "SAATCHI AND SAATCHI BUYS CLEVELAND CONSULTING", "body": "Advertising agents Saatchi and Saatchi Co\nPlc said it was buying for an initial consideration of 2.0 mln dlrs.\n Additional payments may be made annually through the year\nending March 31, 1991 to bring the total consideration up to\n9.5 pct of Cleveland's average post-tax profits in the last two\nyears of the period.\n The purchase of Cleveland is a further step in Saatchi and\nSaatchi's fast growing consulting industry, the company said.\nIt said its consulting operations now provide a platform for\nmajor future expansion.\n For the 12 months ended 31 March 1986, Cleveland had\n479,000 dlrs in pretax profits and forecasts one mln for 1987.\n At the Saatchi and Saatchi annual meeting today, the\ncompany reported a particularly strong start to the current\nyear, with profits sharply higher than the same period last\nyear.\n Saatchi and Saatchi shares rose one pence on the Cleveland\nannouncement to 885p after yesterday's 870p close.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:20:52.00", "topics": [ "acq" ], "places": [ "usa" ], "id": "1103" }, { "title": "UNILEVER'S CHESEBROUGH OFFERS TO SELL BASS", "body": "Chesebrough-Pond's Inc, recently\nacquired by a unit of Unilever N.V., said it is offering to\nsell its Bass shoe division, as a result of an\nongoing evaluation of the long-term direction of its\nbusinesses.\n The diversified maker of health and beauty aids, said it\nacquired Falmouth, Maine-based G.H. Bass and Co in 1978, when\nthe company reported annual sales of 59 mln dlrs. Bass is known\nfor its high-quality casual shoes.\n Chesebrough said Bass's 1986 sales exceeded 170 mln dlrs.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:21:06.62", "topics": [ "acq" ], "places": [ "usa" ], "id": "1104" }, { "title": "CONTINENTAL SEES 1987 NET UP FROM TAX LAW", "body": "Continental Corp said the fresh start\nprovision of the Tax Reform Act of 1986 may add 1.30 to 1.60 to\n1987 earnings per share.\n The insurance holding company had net earnings of 449.6 mln\ndlrs, or, or 7.42 per share, in 1986.\n John Loynes, Continental chief financial officer, said the\nfresh start provision allowed the company to discount opening\ntax reserves to January 1, 1987, which released deferred taxes\ninto earnings.\n Loynes said the provision's potential benefit would decline\ngradually over the next four years, during which time\nContinental will pay 250 mln to 350 mln dlrs more in taxes.\n Loynes added, however, the higher taxes are not expecetd to\nhave a significant impact on earnings.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:22:53.85", "topics": [ "earn" ], "places": [ "usa" ], "id": "1105" }, { "title": "ONTARIO TREASURY BILL YIELD EDGES UP", "body": "This week's Ontario government auction\nof 50 mln dlrs worth of 91-day treasury bills yielded an\naverage of 7.28 pct, up slightly from 7.26 pct last week, a\ntreasury department spokesman said.\n Average price was 98.217.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:24:16.28", "places": [ "canada" ], "id": "1106" }, { "title": "FIRESTONE TO CLOSE TIRE PLANTS IN IOWA, ILLINOIS AND OKLAHOMA\n", "date": " 3-MAR-1987 11:25:35.58", "places": [ "usa" ], "id": "1107" }, { "title": "FORD MOTOR CO OF CANADA LTD 4TH QTR NET", "body": "Shr 8.17 dlrs vs 55 cts\n Net 67.7 mln vs 4.5 mln\n Revs 3.67 billion vs 3.54 billion\n Year\n Shr 12.19 dlrs vs 24.00 dlrs\n Net 101.1 mln vs 199.0 mln\n Revs 14.33 billion vs 13.35 billion\n Note: 90 pct owned by Ford Motor Co \n Reuter\n\u0003", "date": " 3-MAR-1987 11:26:01.24", "topics": [ "earn" ], "places": [ "canada" ], "id": "1108" }, { "title": "ROYAL BANK OF CANADA 1ST QTR SHR 88 CTS VS 1.22 DLRS\n", "date": " 3-MAR-1987 11:29:01.90", "topics": [ "earn" ], "places": [ "canada" ], "id": "1109" }, { "title": "BELGIAN MINISTER SEES NEW ACCORD ON EC OILS/FATS", "body": "Belgian Foreign Trade Minister Herman\nDe Croo said he believed there would be a compromise within the\nEuropean Community, EC, on its proposed tax on vegetable fats\nand oil, averting a pledged tough trade response by the United\nStates.\n De Croo, in Washington for talks with Administration\nofficials and Congressional leaders, said at a news conference\nthere is a battle within the community on the tax on fats and\noils used in the 12 EC countries.\n But he added, \"I do not think it will be a big issue because\nthere will be a big debate inside Europe,\" adding \"so there will\nbe a compromise.\"\n U.S. Trade Representative Clayton Yeutter said yesterday\nthat if the community went ahead with the tax, the United\nStates would respond \"vigorously\" to protect its trade rights and\naccess to community markets.\n De Croo also said he thought the community would postpone\nits April 28 deadline for imposing new slaughterhouse rules to\ncover all meats brought into EC nations if some progress was\nmade toward resolving differences with the United States.\n U.S. officials say its rules now meet health standards and\nthe EC should require equivalent but not identical standards.\n He also told reporters he hoped the community could deal\nwith another controversial health proposal that would forbid\nthe feeding of hormones to cattle, which is also opposed by the\nUnited States.\n De Croo gave no deals on how he though the issue might be\nresolved. That rule is go into effect on January 1, 1988.\n He said U.S. cattlemen say there is no reason to change\nslaughterhouse practices in April if the meat is to be banned a\nfew months later by the hormone rule.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:29:55.96", "topics": [ "veg-oil", "livestock", "carcass" ], "organisations": [ "ec" ], "places": [ "belgium", "usa" ], "id": "1110" }, { "title": "ANITEC IMAGE TECHNOLOGY CORP 2ND QTR NET", "body": "Shr 33 cts vs 28 cts\n Net 3,722,000 vs 3,103,000\n Sales 33.0 mln vs 31.8 mln\n Avg shrs 11.2 mln vs 11.1 mln\n 1st half\n Shr 68 cts vs 58 cts\n Net 7,585,000 vs 6,346,000\n Sales 65.9 mln vs 61.3 mln\n Avg shrs 11.2 mln vs 11.0 mln\n NOTE: Share adjusted for three-for-two October 1986 stock\nsplit.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:31:30.98", "topics": [ "earn" ], "places": [ "usa" ], "id": "1111" }, { "title": "DUTCH MONEY MARKET DEBT BARELY CHANGED IN WEEK", "body": "Loans and advances from the Dutch\ncentral bank to the commercial banks were barely changed at\n12.9 billion guilders in the week up to and including March 2,\nthe central bank weekly return showed.\n The Treasury's account with the bank dropped 1.3 billion\nguilders. Dealers said a larger amount of funds in the form of\ninterest and repayments on state loans went out than came in\nthe form of tax payments to the state.\n Notes in circulation rose 360 mln to 27.7 billion as the\npublic withdrew cash to celebrate this week's Carnival festival\nor take an end-of-winter holiday break, dealers said.\n Current money market rates are at 5-3/4 to 6-1/4 pct for\ncall money against 5-1/4 to 5-3/8 a week ago, and between\n5-5/16 and 5-9/16 pct against 5-1/4 to 5-1/2 for one to 12\nmonth periods, dealers said.\n The cause for the rise was a rather tight 4.8 billion\nguilders of special advances set by the Bank yesterday compared\nwith 8.0 billion guilders for the previous set, dealers added.\n They expect the money market shortage to continue around 12\nbillion guilders this week.\n The weekly return showed total Dutch gold and currency\nreserves rose 11.3 mln guilders to 56.0 billion guilders.\n REUTER\n\u0003", "date": " 3-MAR-1987 11:33:02.52", "topics": [ "money-fx", "interest" ], "places": [ "netherlands" ], "id": "1112" }, { "title": "NEXXUS SIGNS CONTRACTS WORTH 10 MLN DLRS", "body": "Nexxus Technologies Inc\nsaid it has signed production contracts totaling about 10 mln\ndlrs with three major U.S. gem wholesalers.\n The company said it expects to start operations on these\ncontracts in May, adding the work will continue through late\n1989. Additional contracts with international gem wholesalers\nare expected in the near future, it added without providing\ndetails.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:33:58.90", "places": [ "usa" ], "id": "1113" }, { "title": "CHRYSLER FEBRUARY U.S. CAR OUTPUT OFF", "body": "Chrysler Corp said its U.S. car\nproduction in February totalled 110,552 units compared with\n123,092 a year ago.\n The company said its U.S. truck production in the month\ntotalled 21,177 compared with none a year ago.\n Year-to-date, Chrysler said its U.S. car output was 216,987\ncompared with 257,941 and truck production is 39,834 compared\nwith none a year ago. The figures exclude Canadian truck\nproduction, much of which is earmarked for the U.S.\n \n Reuter\n\u0003", "date": " 3-MAR-1987 11:36:21.71", "places": [ "usa" ], "id": "1114" }, { "title": "U.S. BANKING CHAIRMAN URGES CAUTION ON FSLIC BILL", "body": "House Banking committee chairman\nFernand St Germain, D-R.I., called for caution in giving\nsavings associations forbearance in paying their debts as part\nof a bill providing three billion dlrs in new capital for the\nFederal Savings and Loan Insurance Corp.\n \"We cannot let forbearance stretch to protect the\nmismanaged or terminal cases that would serve to further drain\nthe FSLIC fund,\" St Germain said at the start of a hearing on\nFSLIC legislation. \"Forbearance must be designed to help the\nwell managed institution temporarily on hard times. It must not\nbe forgiveness for the speculators, the high flyers and the\nfast buck artists.\"\n The use of forbearance for well-managed institutions was\nendorsed at the hearing by Texas Savings and Loan Commissioner\nL.L. Bowman, the Federal Home Loan Bank of Dallas and the Texas\nSavings and Loan League.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:37:24.42", "places": [ "usa" ], "id": "1115" }, { "title": "COMPUTER COMPANIES FORM NETWORKING GROUP", "body": "A number of computer companies said they\nformed Network Computing Forum, an industry group focusing on\nways to tie computers, workstations and networks together.\n The participants include Apollo Computer Inc ,\nAlliant Computer Systems Corp , Apple Computer Inc\n, Concurrent Computer Inc , and a number of other\ncompanies.\n The Forum said its aim was to adopt protocols, services and\narchitectures that support integrated network computing. It\nalso hopes to promote industry standards. The first meeting of\nthe group is set for the Spring 1987.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:38:10.46", "places": [ "usa" ], "id": "1116" }, { "title": "DASA CORP YEAR NET", "body": "Shr profit three cts vs loss 11 cts\n Net profit 507,000 vs loss 1,823,000\n Revs 11.2 mln vs 204,000\n Reuter\n\u0003", "date": " 3-MAR-1987 11:38:17.73", "topics": [ "earn" ], "places": [ "usa" ], "id": "1117" }, { "title": "GROUP TRIMS MATERIAL SCIENCES STAKE", "body": "An investor group led by Central\nNational-Gottesman Inc, a New York investment firm, and its\nexecutive vice president, Edgar Wachenheim, said they cut their\nstake in Material Sciences Corp to less than five pct.\n In a filing with the Securities and Exchange Commission,\nthe group said it sold 19,500 Material Sciences common shares\nbetween Feb 11 and 19 at prices ranging from 24.00 to 27.648\ndlrs a share, leaving it with 239,500 shares, or 4.7 pct.\n As long as the group's stake remains below five pct, it is\nnot required to disclose further dealings in Material Sciences\ncommon stock.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:41:51.86", "topics": [ "acq" ], "places": [ "usa" ], "id": "1118" }, { "title": "SAPPORO BREWERIES PLANS 100 MLN SWISS FRANC NOTES", "body": "Sapporo Breweries Ltd is launching a 100\nmln Swiss franc, 4-5/8 pct, five-year guaranteed notes issue\npriced at 100-1/4 pct, lead manager Swiss Bank Corp said.\n The issue is guaranteed by Fuji Bank and payment date is\nMarch 17.\n REUTER\n\u0003", "date": " 3-MAR-1987 11:42:00.41", "places": [ "switzerland" ], "id": "1119" }, { "title": "FED SETS 1.5 BILLION DLR CUSTOMER REPURCHASE, FED SAYS\n", "date": " 3-MAR-1987 11:42:03.86", "topics": [ "interest" ], "places": [ "usa" ], "id": "1120" }, { "title": "CHRYSLER FEBRUARY U.S. CAR OUTPUT DOWN", "body": "Chrysler Corp said its February U.S. car\nproduction was 110,552 compared with 123,092 a year ago.\n The number three automaker said U.S. truck production\ntotalled 21,177 compared with nine last year. The figures\nexclude Canadian truck production, much of which is sold to\nU.S. dealers.\n Year-to-date, Chrysler said car output declined to 216,987\nfrom 257,941 and U.S. truck production totalled 39,834 compared\nwith none a year ago.\n \n Reuter\n\u0003", "date": " 3-MAR-1987 11:43:20.48", "places": [ "usa" ], "id": "1121" }, { "title": "ADC TELECOMMUNICATIONS INC 1ST QTR NET", "body": "Periods ended Jan 31\n Shr 28 cts vs 35 cts\n Net 2,374,000 vs 2,987,000\n Sales 35.2 mln vs 34 mln\n Backlog 36.8 mln vs 33.9 mln\n Reuter\n\u0003", "date": " 3-MAR-1987 11:43:24.66", "topics": [ "earn" ], "places": [ "usa" ], "id": "1122" }, { "title": "TYLAN CORP TO SELL FURNACE PRODUCT LINE", "body": "Tylan Corp aid it has retained\nthe investment banking firm Kahn and Harris to sell its furnace\nproduct line.\n The company said it has already been contacted by several\npotential buyers.\n In 1986, Tylan's furnace product shipments in the U.S.\nrepresented 10.3 mln dlrs of the company's total net sales of\n28.4 mln dlrs.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:43:30.14", "topics": [ "acq" ], "places": [ "usa" ], "id": "1123" }, { "title": " 1ST QTR JAN 31 NET", "body": "Shr basic 88 cts vs 1.22 dlrs\n Shr diluted 83 cts vs 1.10 dlrs\n Net 114,108,000 vs 140,389,000\n Avg shrs 107.5 mln vs 100.5 mln\n Loans 66.4 billion vs 65.9 billion\n Deposits 82.8 billion vs 84.4 billion\n Assets 98.7 billion vs 96.7 billion.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:44:14.11", "topics": [ "earn" ], "places": [ "canada" ], "id": "1124" }, { "title": "FED ADDS RESERVES VIA CUSTOMER REPURCHASES", "body": "The Federal Reserve entered the U.S.\nGovernment securities market to arrange 1.5 billion dlrs of\ncustomer repurchase agreements, a Fed spokesman said.\n Dealers said Federal funds were trading at 6-1/4 pct when\nthe Fed began its temporary and indirect supply of reserves to\nthe banking system.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:45:17.71", "topics": [ "interest" ], "places": [ "usa" ], "id": "1125" }, { "title": "HOME SHOPPING SETS STOCK OPTIONS", "body": "Home Shopping Network Inc said\nits board approved plans to offer a stock option plan for its\ncable television operators.\n The company said it will offer the options in exchange for\na commitment to operate the company's programs to a set number\nof subscribers for five years. The agreement also includes a\nfive year extension option.\n If the operator agrees to the plan, they will receive\noptions to buy 10 dlrs worth of common stock for each cable\nsubscriber committed, or 20 dlrs per subscriber, if they agree\nto run both programs, the company explained.\n The company said the option will vest over a five year\nperiod at the rate of 20 pct per year.\n The company, which offered a similar program last year,\nsaid the current one is directed for those who did not sign up\nlast year, and for new carriers of the company's home shopping\nvideo shows.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:47:16.46", "places": [ "usa" ], "id": "1126" }, { "title": "BOGERT OIL BUYS WELLS, DRILLING RIGS", "body": "Boget Oil Co said it has purchased\ninterests in about 200 wells in Oklahoma and seven medium-depth\ndrilling rigs for 4.5 mln dlrs.\n The company said it will be able to incorporate the 150\noperated wells within its field organization and intends to\ndispose of the rigs by private sale or auction in the near\nfuture.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:47:52.86", "places": [ "usa" ], "id": "1127" }, { "title": "SUPRADUR COS INC YEAR NET", "body": "Oper shr 1.58 dlrs vs 77 cts\n Oper net 1,648,000 vs 817,000\n Sales 25.7 mln vs 20.5 mln\n NOTE: Net excludes discontinued operations gain 451,000\ndlrs vs loss 4,310,000 dlrs.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:48:07.48", "topics": [ "earn" ], "places": [ "usa" ], "id": "1128" }, { "title": "ITALIAN PRIME MINISTER CRAXI SAYS HE WILL RESIGN", "body": "Socialist Prime Minister Bettino Craxi said\nhis five party coalition government would resign.\n Craxi, Italy's prime minister for a postwar record of 3-1/2\nyears, told the Senate (upper house) he would hand his and the\ngovernment's resignation to President Francesco Cossiga\nimmediately after leaving the chamber.\n Craxi has been prime minister, at the head of two separate\nbut identical five-party coalitions, since August 1983.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:48:33.00", "places": [ "italy" ], "id": "1129" }, { "title": "ADOBE SYSTEMS SETS PACT WITH IBM ", "body": "Adobe Systems Inc said it\nsigned a contract with International Business Machines, giving\nIBM licensing rights to its PostScript page description\nlanguage interpreter.\n Adobe said IBM plans to use PostScript as one of the\nfoundation elements of its preferred environments for IBM\nelectronic publishing products.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:48:54.43", "places": [ "usa" ], "id": "1130" }, { "title": "U.S. SETS CORN DEFICIENCY PAYMENT HALF PIK CERTS", "body": "The upcoming five-month deficiency\npayments to corn and sorghum farmers will be made half in cash\nand half in generic commodity certificates, a senior\nAgriculture Department official told Reuters.\n Around 300 mln dlrs of the in-kind certificates, or\n\"certs,\" will be mailed out to farmers around March 15 or 16,\nTom von Garlem, Assistant Deputy Administrator for USDA's state\nand county operations, said.\n The decision to make the payments in a 50/50 cash/certs\nratio was made Monday, but payments to producers will be\ndelayed until mid-month due to a problem with USDA's computer\nprogram, von Garlem said.\nget 11.5 cts per bushel in this next payment -- 5.75 cts in\ncerts and around 5.5 cts cash (5.75 cts minus Gramm-Rudman).\n Farmers who did not receive advance deficiency payments at\nsignup will receive 63 cts per bushel. Slightly more than half\nof this payment will be in cash, von Garlem said, but he said\nthis will not markedly upset the 50/50 ratio, since most\nfarmers got advance payments.\n \"The final certificate payments will be very close to 300\nmln dlrs,\" he said.\n When asked if the Office of Management and Budget had\nresisted the cash/certs ratio, the USDA official said that \"we\nproposed 50/50 and OMB accepted it.\"\n Reuter\n\u0003", "date": " 3-MAR-1987 11:49:05.15", "topics": [ "grain", "corn", "sorghum" ], "places": [ "usa" ], "id": "1131" }, { "title": "FORD CANADA PROFIT DOWN ON CHANGEOVER COST", "body": "Ford Motor Co of Canada Ltd,\n90 pct owned by Ford Motor Co , said the earlier reported\ndecline in full year net profit was mainly due to changeoover\ncosts at its Essex, Ontario engine plant.\n Ford Canada also said sharply improved fourth quarter\nresults were due to improved cost recovery and lower product\nprogram costs, partially offset by lower engine production.\n The company earlier said consolidated 1986 net income fell\nto 101.9 mln dlrs from year-ago 199.0 mln dlrs. Fourth quarter\nprofit improved to 67.7 mln dlrs from 4.5 mln dlrs in the prior\nyear.\n Ford Canada said full-year earnings from its Canadian\noperations declined 75.4 mln dlrs to 104.0, while fourth\nquarter profit increased to 49.1 mln dlrs from 16.1 mln dlrs in\nthe prior year.\n Ford Canada reported a full year loss of 2.9 mln dlrs from\nits overseas operations, compared to a 19.6 mln dlr profit in\n1985. Fourth quarter earnings from overseas operations rose to\n18.6 mln dlrs from a loss of 11.6 mln dlrs in the prior year.\n The company reported full-year domestic sales in Canada of\n4.35 billion dlrs compared to 3.95 billion dlrs in 1985,\nexcluding export sales to its U.S. parent.\n Ford Canada said it had 1986 export sales to its parent\ncompany of 7.97 billion dlrs, up from year-earlier 7.18 billion\ndlrs.\n The company reported 1986 overseas sales fell 205.7 mln\ndlrs to 2.01 billion dlrs from 2.21 billion dlrs in 1985.\n The company attributed the improvement in fourth quarter\nresults from overseas operations to manufacturing efficiencies,\ncost reduction programs and improved cost recovery, which were\npartially offset by lower industry volumes.\n Ford Canada's net loss for the year from overseas\noperations resulted from lower industry volumes and increased\ninterest costs, the company said.\n Despite increased competition, Ford Canada's market share\nof car sales rose to 17.2 pct from 17.0 pct in 1985, it said.\nThe company's share of industry truck sales rose to 29.7 pct in\n1986 from year-earlier 29.2 pct.\n Ford Canada said sales were boosted by its Ford Tempo car\nand Ford light truck, both manufactured in Oakville, which were\nCanada's best selling car and truck nameplates in 1986.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:49:19.75", "places": [ "canada" ], "id": "1132" }, { "title": "FIRESTONE TO CLOSE THREE TIRE PLANTS", "body": "Firestone Tire and Rubber Co has\nnotified the United Rubber Workers the company will close its\nDes Moines, Iowa, Bloomington, Ill., and Oklahoma City tire\nplants on or before September 15.\n A Firestone spokesman said the cost of the closings will be\ncovered by the 65 mln dlrs restructuring charge the company\ntook in the fourth quarter of 1986.\n The company said it was notified by the union March one\nthat the agreement reached with Local 998 at the Oklahoma City\ntire plant had been rejected by union members at the other\nplants. \n Firestone said it has been discussing the possible sale of\nits Des Moines and Bloomington plants with prospective buyers\nfor several months.\n Those discussions are continuing, the company said, adding\nit could not predict their outcome. Firestone is willing to\nwork with any organization wishing to consider the purchase of\nthe three tire plants, it added.\n Last October, Firestone advised the union the tire plants\nin Des Moines, Bloomington and Oklahoma City were being\ndesignated as \"distressed\" under the terms of its master\nagreement with the rubber workers.\n Firestone said it has twice reached agreement with the\nleadership and members of the local in Oklahoma City on plans\nto reduce operating costs through revisions in wages, benefits\nand work rules.\n Union procedures, however, require approval by the\nFirestone section of the union's International Policy\nCommittee, membrs of other locals covered by the master\ncontract and by the rubber workers' executive board.\n The company said the rejection of the Oklahoma City package\nby union locals at Des Moines and other locations and the\nlimited sales and profit opportunities for agricultural and\noff-the-road tires in North America led Firestone to conclude\nthe parties would be unable to reach agreements that would\npermit the continued operation of the Des Moines and\nBloomington plants.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:49:36.90", "places": [ "usa" ], "id": "1133" }, { "title": "WALLACE COMPUTER SERVICES INC 2ND QTR NET", "body": "Shr 69 cts vs 64 cts\n Net 7,046,000 vs 6,492,000\n Sales 85.7 mln vs 79.6 mln\n Six Mths\n Shr 1.28 dlrs vs 1.19 dlrs\n Net 13,098,000 vs 12,006,000\n Sales 166.3 mln vs 153.3 mln\n NOTE: Periods end January 31, 1987 and 1986, respectively.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:49:54.80", "topics": [ "earn" ], "places": [ "usa" ], "id": "1134" }, { "title": "AMERICAN VANGUARD CORP YEAR NET", "body": "Shr 57 cts vs 27 cts\n Net 1,002,000 vs 470,000\n Sales 15.9 mln vs 12.0 mln\n Note: 4th qtr data not available\n Reuter\n\u0003", "date": " 3-MAR-1987 11:50:02.06", "topics": [ "earn" ], "places": [ "usa" ], "id": "1135" }, { "title": "INTL FINANCE CORP IN 50 MLN DLR PRIVATE PLACEMENT", "body": "The International Finance Corp is\nprivately placing a 50 mln dlr bond due April 7, 1997 carrying\na 7-5/8 pct coupon and priced at 99-3/4 pct, Bank of Tokyo\nInternational Ltd said as sole lead manager for the issue.\n The bond is available in denominations of 25,000 dlrs and\nwill be listed in Luxembourg.\n REUTER\n\u0003", "date": " 3-MAR-1987 11:50:07.90", "places": [ "uk" ], "id": "1136" }, { "title": "NORTH AMERICAN BIOLOGICALS INC 4TH QTR", "body": "Oper shr one ct vs three cts\n Oper net 99,000 vs 327,000\n Revs 12.1 mln vs 8,800,000\n Avg shrs 15.5 mln vs 11.3 mln\n Year\n Oper shr six cts vs 11 cts\n Oper net 841,000 vs 956,000\n Revs 44.1 mln vs 34.4 mln\n Avg shrs 15.3 mln vs 8,519,677\n NOTE: Net excludes tax credits of 299,000 dlrs vs 29,00000\ndlrs in quarter and 809,000 dlrs vs 71,000 dlrs in year.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:50:25.33", "topics": [ "earn" ], "places": [ "usa" ], "id": "1137" }, { "title": "OMNICOM GROUP INC 4TH QTR NET", "body": "Shr profit 27 cts vs profit 51 cts\n Net profit 6,600,000 vs profit 12,231,000\n Revs 211.7 mln vs 193.4 mln\n 12 mths\n Shr loss 17 cts vs profit 1.27 dlrs\n Net loss 4,077,000 vs profit 30,142,000\n Revs 753.5 mln vs 673.4 mln\n NOTE: in qtr ended 1986 the company recognized expenses of\n5,948,000 for restructing the combined operations of BBDO,\nDoyle Dane Bernbach and Needham Harper Worldwide in August 1986\nbefore tax gains. These relate primarily to the conosolidation\nand elimination of duplicate facilities and staff.\n for the year 1986, the provisions for mergers and\nrestructuring expenses brought non-recurring expenses to\n40,292,000 before tax gains, of which 8,863,000 represented\nmerger costs and 31,429,000 related to restructuring of the\ncombine operations.\n\n Reuter\n\u0003", "date": " 3-MAR-1987 11:50:49.07", "topics": [ "earn" ], "places": [ "usa" ], "id": "1138" }, { "title": "AMC FEBRUARY CAR OUTPUT DECLINES", "body": "American Motors Corp said its February\nU.S. car production declined to 2,978 units from 3,808 a year\nago.\n AMC said its U.S. jeep production rose to 18,651 from\n16,673 last year.\n Year-to-date, AMC said its car output declined to 6,6069\nfrom 6,631 and jeep production declined to 37,207 from 40,586\nin the comparable 1986 period.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:51:01.94", "places": [ "usa" ], "id": "1139" }, { "title": "VENEZUELA PLANS NEW BORROWING WITH LIMITS", "body": "Venezuela will limit new loans to 50 pct\nof the interest and principal it repays on its 31 billion dlr\nforeign debt, President Jaime Lusinchi told political leaders.\n Speaking last night at a new session of congress, he said\nlast week's agreement to reschedule 21 billion dlrs in public\nsector foreign debt at lower interest rates reflected\nVenezuela's improved credit image.\n \"Our priority is development, but I insist that there cannot\nbe development if we don't fulfil our obligations,\" he said.\n Venezuela agreed last Friday with its 13-bank advisory\ncommittee to lower the interest margin to 7/8 pct over libor\nfrom 1-1/8 and reduce amortisations in the next three years to\n1.35 billion dlrs from 3.35 billion.\n \"The important thing is that this rate of 7/8 pct is a\nmarker for new negotiations and will save us 50 mln dlrs this\nyear,\" Lusinchi said.\n He said the country had been loyal to the principles of the\nCartagena group of Latin American debtors but had \"decided to\nreach an agreement convinced that Venezuela is a specal case,\nbecause of the vulnerability of its economy.\"\n Venezuela signed a 12-1/2 year rescheduling accord in\nFebruary, 1986, but immediately sought new terms because of\nfalling oil income, which dropped 40 pct last year.\n Finance Minister Manuel Azpurua told reporters he hopes to\nsign the new rescheduling accord early in the second quarter,\nbut that in any case it would become effective from April 1.\n Azpurua said Venezuela's 450 or so creditor banks have been\ncontacted with details of the new agreement, and that Public\nFinances Director Jorge Marcano may visit financial centres to\nround up support.\n Azpurua said that among the details still to be finalised\nwere the exact timetable for reprogrammed payments and the\noutlines of a government plan to allow public and private\nsector debt capitalisation.\n He said banks had shown willingness to consider new loans\nto Venezuela, a fundamental achievement in the new accord.\n \"Substantial progress has been made in talks and we will now\nhave to define more precisely what projects can be financed\nfrom foreign borrowing,\" he said, adding that loans for steel\nand aluminium and iron ore sectors could be the first to\nmaterialise.\n REUTER\n\u0003", "date": " 3-MAR-1987 11:51:31.08", "places": [ "venezuela" ], "id": "1140" }, { "title": "DEUTSCHE BANK UNIT ISSUES 75 MLN STG EUROBOND", "body": "Deutsche Bank Finance NV Curacao is\nissuing a 75 mln stg eurobond due April 2, 1997 paying 9-7/8\npct and priced at 101-3/4 pct, joint-lead manager Kleinwort,\nBenson Ltd said. Deutsche Bank Capital Markets is the other\njoint-lead manager.\n The issue is guaranteed by Deutsche Bank AG and is callable\nat 100-3/8 pct after seven years, declining by 1/8 point per\nannum to par thereafter. The selling concession is 1-3/8 pct\nwhile management and underwriting combined pays 5/8 pct. The\nissue is available in denominations of 1,000 and 10,000 stg and\nwill be listed in Luxembourg. The payment date is April 2.\n REUTER\n\u0003", "date": " 3-MAR-1987 11:53:21.17", "places": [ "uk" ], "id": "1141" }, { "title": "BBL SHAREHOLDERS AUTHORISE CAPITAL RAISE", "body": "Shareholders in Banque Bruxelles\nLambert , BBL, authorised the bank to increase capital\nby five billion francs to 20 billion in the next five years, a\nbank spokesman said.\n BBL, Belgium's second largest commercial bank, had failed\nto win shareholder approval for the move last month because of\na lack of quorum. No quorum was required today.\n BBL has already raised over 5.5 billion francs in new\ncapital since April 1985. Board President Jacques Thierry\nreiterated at the meeting that BBL had no plans to raise more\ncapital in the near future.\n REUTER\n\u0003", "date": " 3-MAR-1987 11:58:08.63", "places": [ "belgium" ], "id": "1142" }, { "date": " 3-MAR-1987 11:58:47.35", "topics": [ "earn" ], "places": [ "usa" ], "id": "1143" }, { "title": "ANITEC IMAGE FILES FOR DEBT OFFERING", "body": "Anitec Image Technology Inc\nsaid it filed a registration statement with the Securities and\nExchange Commission for a proposed offering of 60 mln dlrs in\nconvertible subordinated debentures.\n Anitec said the proceeds will be used for acquisitions,\njoint ventures and other investments.\n Anitec said the offering is being underwritten by Smith\nBarney, Harris Upham and Co, Donaldson Lufkin and Jenrette\nSecurities, Salomon Inc , and Mabon Nugent and Co.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:59:25.44", "places": [ "usa" ], "id": "1144" }, { "title": "AMC FEBRUARY CAR OUTPUT DECLINES", "body": "American Motors Corp said its February\nU.S. car production declined to 2,978 units from 3,808 a year\nago.\n AMC said its U.S. jeep production rose to 18,651 from\n16,673 last year.\n Reuter\n\u0003", "date": " 3-MAR-1987 11:59:39.49", "places": [ "usa" ], "id": "1145" }, { "title": "SAVIN IN PACT WITH SUN CHEMICAL ", "body": "Savin Corp said it has reached\nan agreement for Sun Chemical Corp to study the potential of\nSavin infrared technology for possible use in classified U.S.\nmilitary applications.\n It said a royalty-bearing license could result.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:01:30.74", "places": [ "usa" ], "id": "1146" }, { "title": "CHILEAN CONSUMER PRICES RISE 1.7 PCT IN FEBRUARY", "body": "Chile's consumer price index rose 1.7\npct in February to 562.01 (December, 1978 equals 100) after\nincreases of 2.0 pct in January and 0.9 pct in February 1986,\nthe government's National Statistics Institute said.\n Inflation as measured by the index rose to 17.5 pct over\nthe 12 months to the end of February, compared with 16.6 pct\nlast month and 24.5 pct to the end of February, 1986.\n In the first two months of the year, inflation was 3.8 pct,\nagainst 3.6 pct in the same period of 1986.\n REUTER\n\u0003", "date": " 3-MAR-1987 12:03:50.63", "topics": [ "cpi" ], "places": [ "chile" ], "id": "1147" }, { "title": "COPPER STUDY GROUP CONSIDERED AT GENEVA MEETING", "body": "Major copper producing and consuming\ncountries are considering a U.S. proposal to set up a study\ngroup to review the world copper market, delegates said.\n The U.S. initiative was introduced last December at a\nmeeting held here under the auspices of the United Nations\nConference on Trade and Development (UNCTAD).\n The U.S., the world's largest copper consumer and second\nbiggest producer after Chile, has proposed setting up a body to\nimprove statistics and market transparency of the copper\neconomy, and provide a forum for discussion.\n The new body would not aim at negotiating measures to\nstabilise depressed world prices.\n This week's meeting, which began yesterday, is due to end\nFriday.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:07:28.54", "topics": [ "copper" ], "places": [ "switzerland", "usa" ], "id": "1148" }, { "title": "CRAY INSTALLS COMPUTER FOR GRUMMAN ", "body": "Cray Research Inc said it installed\na Cray X-MP/14 supercomputer valued at eight mln dlrs at\nGrumman Corp's Grumman Aerospace Corp.\n Cray said the system, which includes a 550 solid state\nstorage device, was installed in the first quarter at Grumman's\nscientific computer facility in Bethpage, N.Y.\n The system replaces a Cray-1M/2300 computer system\ninstalled in 1983. It will be used for engineering and\nscientific applications in the design of aircraft systems.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:07:47.71", "places": [ "usa" ], "id": "1149" }, { "title": "RESERVE OIL HOLDERS APPROVE NAME CHANGE", "body": "Reserve Oil and Minerals Corp\nsaid its shareholders approved changing the name of the company\nto Reserve Industries Corp.\n The company said it has contracted to purchase, process and\nrecycle various waste materials generated at the Ogden, Utah,\nzirconium plant of Westinghouse Electric Corp's Western\nZieconium subsidiary.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:08:09.02", "places": [ "usa" ], "id": "1150" }, { "title": "JAPAN BUYS 5,000 TONNES CANADIAN RAPESEED", "body": "Japan bought 5,000 tonnes of Canadian\nrapeseed overnight at an undisclosed price for April shipment,\ntrade sources said.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:08:27.83", "topics": [ "oilseed", "rapeseed" ], "places": [ "japan", "canada" ], "id": "1151" }, { "title": "ROYAL BANK/CANADA SEES HIGHER 1987 LOAN LOSSES", "body": " said it\nestimates 1987 loan losses at one billion dlrs, a 25 mln dlr\nincrease over last year.\n Royal Bank said it set its provisions \"given the continued\ndebt-servicing problems ... in the North American energy\nindustry and the uncertain outlook for energy prices,\" and also\ncontinued to add to its general provisions for loans to\ntroubled borrower countries.\n The bank's loan loss provision for the first quarter ended\nJanuary 31 rose to 223 mln dlrs from 187 mln dlrs in the\nyear-ago quarter.\n The bank said non-accrual loans, net of provisions for loan\nlosses, totalled 2.2 billion dlrs on January 31, up from 2.0\nbillion dlrs a year ago.\n In reporting lower first quarter earnings, chairman Allan\nTaylor said problems with credit quality--particularly in loans\nassociated with the energy sector--continue to have a\nsubstantial adverse effect on the bank's earnings.\n Taylor said profitability of the bank's international\noperations remains weak, reflecting resource-related\ndifficulties of private and public sector borrowers and\nunsatisfactory results from capital market activities.\n Taylor said it would be premature to speculate on the\noutcome of debt resturcturing negotiations with Brazil or their\npotential impact on the Royal Bank.\n The bank earlier reported first quarter profit fell to\n114.1 mln dlrs from 140.4 mln dlrs a year ago.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:09:34.85", "topics": [ "earn" ], "places": [ "canada" ], "id": "1152" }, { "title": "PANTERA AND PIZZA AGREE TO MERGE", "body": "Pantera's Corp said it agreed in\nprinciple to acquire Pizza Inn Inc in a cash and stock\ntransaction.\n Under terms of the proposed transaction, each Pizza Inn\nshare can be exchanged for either three dlrs in cash plus the\nlesser of 1.4 shares of Pantera's common stock or 11.50 dlrs\nmarket value of Pantera's stock, or four dlrs in cash plus a\nunit consisting of one share of Pantera's stock and a\nnon-transferrable right to receive up to 0.55 share of\nPantera's stock under certain conditions, it said.\n Completion of the transaction is subject to arrangement of\nfinancing, negotiation of a definitive agreement, and various\nregulatory approvals, it said.\n Pantera's said Pizza Inn's largest shareholder, F.J.\nSpillman, previously granted Pantera's an option to buy more\nthan one mln shares of Pizza Inn common stock owned by him.\n Pantera's also said it retained Drexel Burnham Lambert Inc\nto act as its financial advisor in connection with the merger.\nPizza Inn has retained Dean Witter Reynolds Inc to act as its\nfinancial advisor, Pantera's said.\n Yesterday, Pantera's stock closed at 9.50 dlrs on NASDAQ,\nwhile Pizza Inn's stock was quoted at 12 dlrs when the Amex\nhalted trading pending the announcement of the proposed merger.\n From its Dallas headquarters, Pizza Inn said completion of\nthe transaction is subject to certain conditions including that\nthe price of Pantera's stock average not less than seven dlrs\nduring the 20 trading days before the merger.\n Under the agreement, Pizza Inn said it will still be\npermitted to complete a leveraged buyout agreement with Pizza\nInn Acquiring Corp, which has been approved by its\nshareholders, but is subject to otaining financing.\n \n More\n\u0003", "date": " 3-MAR-1987 12:11:00.65", "topics": [ "acq" ], "places": [ "usa" ], "id": "1153" }, { "title": "SWISS MONEY MARKET PAPER YIELDS 3.286 PCT", "body": "The Swiss Federal Government's new series\nof six-month money market certificates raised 177.5 mln Swiss\nfrancs at an issue price of 98.401 pct to give an average\nannual yield of 3.286 pct, the National Bank said.\n Payment date is March 5.\n The last series of six-month paper issued in January raised\n159.6 mln francs at 98.392 pct to give an average yield of\n3.251 pct.\n REUTER\n\u0003", "date": " 3-MAR-1987 12:11:16.95", "topics": [ "money-fx", "interest" ], "places": [ "switzerland" ], "id": "1154" }, { "title": "BBL SHAREHOLDERS AUTHORISE CAPITAL RAISE", "body": "Shareholders in Banque Bruxelles\nLambert , BBL, authorised the bank to increase capital\nby five billion francs to 20 billion in the next five years, a\nbank spokesman said.\n BBL, Belgium's second largest commercial bank, had failed\nto win shareholder approval for the move last month because of\na lack of quorum. No quorum was required today.\n BBL has already raised over 5.5 billion francs in new\ncapital since April 1985. Board President Jacques Thierry\nreiterated at the meeting that BBL had no plans to raise more\ncapital in the near future.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:13:38.79", "places": [ "belgium" ], "id": "1155" }, { "title": "NIGERIA, GUINEA SET UP IRON ORE FIRM WITH LIBERIA", "body": "Nigeria and Guinea agreed to set up a new\ncompany with Liberia to carry out the 14-year-old\nMifergui-Nimba iron ore project, an official communique said.\n The communique was issued after two days of talks here\nbetween Guinean natural resources minister Ousmane Sylla and\nNigerian minister of mines and power Bunu Sheriff Musa.\n Originally, Guinea held 50 pct in the project and Nigeria\n16.2 pct with firms from several other countries also involved,\nbut the project ran into problems over funding and the slump in\nworld iron ore markets.\n Musa said Liberia was invited to join and its share will be\ndecided after a project feasibility study. This would be\ncompleted in May after which finance will be sought. Officials\nsaid the study will be undertaken with the help of the World\nBank, which is also expected to give financial support.\n Production, originally estimated at 15 mln tonnes a year,\nwill be 12 mln initially and is expected to begin in early\n1990.\n On an agreement between the two countries to prospect for\nuranium in Guinea, the communique said Musa and Sylla agreed\nthat because of poor market conditions, it would be extended to\ncover exploration for gold, diamonds, cobalt, nickel and\nsilver.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:13:48.90", "topics": [ "iron-steel" ], "places": [ "nigeria", "liberia" ], "id": "1156" }, { "title": "DISTRIBUTED LOGIC CORP 1ST QTR LOSS", "body": "Qtr ended Jan 31\n Shr loss nine cts vs profit 13 cts\n Net loss 231,256 vs profit 341,730\n Revs 2,793,677 vs 3,676,296\n Reuter\n\u0003", "date": " 3-MAR-1987 12:14:01.26", "topics": [ "earn" ], "places": [ "usa" ], "id": "1157" }, { "title": "CANADA INDUSTRIAL PRODUCTION UP 2.53 PCT", "body": "Canadian industrial production rose 2.53\npct in December after falling 0.51 pct in November, Statistics\nCanada said.\n The federal agency said year-over-year production was off\n0.65 pct in December, compared with a decline of 1.65 pct in\nNovember.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:14:16.22", "topics": [ "ipi" ], "places": [ "canada" ], "id": "1158" }, { "title": "LIFETIME TO BUY SHARES OF NIPPON LACE", "body": "Lifetime Corp said it agreed to buy\nfive mln shares, or 16 pct, of for 3.28\ndlrs a share, or 16.5 mln dlrs.\n It said it plans to enter the health care business in\nJapan.\n In addition, it said , an\naffiliate of Lifetime, will buy four mln unissued shares, or a\n12 pct stake, of Nippon for 20 mln dlrs or five dlrs a share.\n The company said Ohta Shoji, chief executive officer of\n, owns the majority of Koba\nElectronics' shares. Toho Mutual Life is also the largest\nshareholder in Nippon Lace, the company said.\n Lifetime also said the ,\non behalf of Lifetime director and shareholder Terence Ramsden,\nintends to subscribe for two mln shares of Nippon Lace at the\nsame price paid by Lifetime.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:16:30.77", "topics": [ "acq" ], "places": [ "usa" ], "id": "1159" }, { "title": "INTERMEDICS INC 1ST QTR NET", "body": "Oper shr 26 cts vs 18 cts\n Oper net 2,877,000 vs 1,363,000\n Revs 44.3 mln vs 40.8 mln\n Avg shrs 10.9 mln vs 10.5 mln\n NOTE: prior qtr excludes loss 475,000, or five cts per\nshare, for discontinued operations for the sale of subsidiaries\nIntermedics Intraocular Inc, Electronics Inc, and Intermedics\nInfusaid Inc.\n Excludes 1987 qtr 1,694,000 operating loss carryforwards vs\n78,000 qtr prior.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:16:37.80", "topics": [ "earn" ], "places": [ "usa" ], "id": "1160" }, { "title": "MODULAR TECHNOLOGY NAMES PRESIDENT", "body": "Modular Technology Inc said its board of\ndirectors elected Frederick H. Goldberger, a business\nconsultant, to be president of the company.\n Modular Technology's former president, Harvey T. Lyon, was\nnamed senior managing director and will continue on the board.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:17:44.97", "places": [ "usa" ], "id": "1161" }, { "title": "CANONIE ENVIRONMENTAL GETS CONTRACT", "body": "Canonie Environmental Services Corp\nsaid it signed a contract to design and build a ground water\ncleanup system for Purex Industries Inc to be installed at a\nMitchel Field Transit Authority site in Nassau County, N.Y.\n Canonie said the contract for work, which will complete a\nproject begun earlier at the site, is worth \"several million\ndlrs.\"\n Reuter\n\u0003", "date": " 3-MAR-1987 12:20:05.01", "places": [ "usa" ], "id": "1162" }, { "title": "VICTORIA STATE BODY ISSUES CANADIAN DLR EUROBOND", "body": "Victorian Public Authorities Finance\nAgency is issuing a 100 mln Canadian dlr bond due April 15,\n1992 paying 8-1/2 pct and priced at 100-5/8 pct, lead manager\nWood Gundy Ltd said.\n The non-callable bond is available in denominations of\n1,000 and 10,000 Canadaian dlrs and will be listed in\nLuxembourg. It is guaranteed by the State of Victoria.\n The selling concession is 1-1/4 pct while management and\npays 1/4 pct and underwriting 3/8 pct. The payment date is\nApril 15.\n REUTER\n\u0003", "date": " 3-MAR-1987 12:21:14.27", "places": [ "uk", "canada" ], "id": "1163" }, { "title": "BENEFICIAL CORP TO SELL INSURANCE UNIT, REMOVING COMPANY FROM INSURANCE BUSINESS\n", "date": " 3-MAR-1987 12:21:57.40", "topics": [ "acq" ], "id": "1164" }, { "title": "WALGREEN CO FEBRUARY SALES UP 18.8 PCT\n", "date": " 3-MAR-1987 12:22:41.38", "id": "1165" }, { "title": "LORAL CORP LOWERED BY STANDARD AND POOR'S, AFFECTS 640 MLN DLRS OF DEBT\n", "date": " 3-MAR-1987 12:25:40.60", "id": "1166" }, { "title": "FORD CANADA CUTS ANNUAL DIVIDEND BY SIX DLRS TO SIX DLRS CASH A SHARE\n", "date": " 3-MAR-1987 12:27:35.82", "topics": [ "earn" ], "places": [ "canada" ], "id": "1167" }, { "title": "ELECTROSPACE GETS ARMY OK FOR CONTRACT", "body": "Electrospace Systems Inc said\nit was ordered by the U.S. Army to immediately proceed with the\ndesign and production of a computer-based control system for\nthe army's tactical voice and data communications network, in a\ncontract potentially worth 101 mln dlrs.\n It said the order followed a favorable ruling by the\nGeneral Accounting Office on two protests that earlier caused a\nstop work order on the 26.8 mln dlr contract, awarded last\nSeptember. It said that order covers 59 mobile shelter-based\nsystems and 44 remote terminals, with options for 279 mobile\nunits and 178 remote units for a total of 101 mln dlrs.\n \n Reuter\n\u0003", "date": " 3-MAR-1987 12:31:42.69", "places": [ "usa" ], "id": "1168" }, { "title": "PAINE WEBBER RESIDENTIAL REALTY INC DIV", "body": "Qtrly 25 cts vs 16 cts\n Pay March 30\n Record March 13\n NOTE: Prior qtr is for two months operation, October and\nNovember and represents a parital dividend.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:32:55.67", "topics": [ "earn" ], "places": [ "usa" ], "id": "1169" }, { "title": "OMNICOM GROUP SETS REGULAR PAYOUT", "body": "Qtlry div 24.5 cts vs 24.5 cts\n Pay April 6\n Record March 16\n Reuter\n\u0003", "date": " 3-MAR-1987 12:33:23.12", "topics": [ "earn" ], "places": [ "usa" ], "id": "1170" }, { "title": "DATACORPY IN PACT WITH XEROX ", "body": "Datacopy Corp said it has\nsigned a joint marketing agreement for its Model 730 office\nimage scanner with Xerox Corp.\n Under the pact, Xerox sales force will reference-sell the\nscanner as its choice for desktop publishing applications.\n Datacopy will supply Xerox with technical support and\nrespond to customer orders within 30 days of the purchase\norder.\n \n Reuter\n\u0003", "date": " 3-MAR-1987 12:33:33.34", "places": [ "usa" ], "id": "1171" }, { "title": "ARGOSYSTEMS WINS GOVERNMENT CONTRACT", "body": "ARGOSystems Inc said it won a\n15-mln-dlr contract with the U.S. Government to deliver 25\ndigital signal processing systems with spares over the next\nthree years.\n The company said it how has a record backlog of over 155\nmln dlrs, up 30 pct from a year ago.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:35:04.69", "places": [ "usa" ], "id": "1172" }, { "title": "KNUTSON MORTGAGE SEES STRONG SECOND QTR", "body": "Knutson Mortgage Corp said it\nexpects strong earnings performance for its initial fiscal\nsecond quarter earnings ending March 31 since going public in\nSeptember 1986.\n Albert Holderson, Knutson chairman, said he expects\nearnings of about 40 cts per share for the quarter as a result\nof a strong mortgage business during the quarter.\n Knutson earlier declared a quarterly dividend of 10 cts a\nshare, versus 10 cts a share prior, payable April 13 to\nshareholders of record March 13.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:36:07.37", "topics": [ "earn" ], "places": [ "usa" ], "id": "1173" }, { "title": "DANISH RESERVES RISE IN FEBRUARY", "body": "Denmark's net official reserves rose\nto 36.34 billion crowns in February from 28.00 billion in\nJanuary, against a revised 45.85 billion in February 1986, the\ncentral bank said in its monthly balance sheet report.\n Total net reserves, including reserves held by commercial\nand major savings banks, rose to 38.26 billion crowns from\n30.11 billion in January compared with a revised 35.99 billion\nin February last year.\n The bank said provisional figures showed net registered\nprivate and public capital imports of 10.3 billion crowns in\nFebruary.\n REUTER\n\u0003", "date": " 3-MAR-1987 12:38:59.20", "topics": [ "reserves" ], "places": [ "denmark" ], "id": "1174" }, { "title": "WORLD BANK TEAM ARRIVES IN UGANDA", "body": "A World Bank team led by senior\neconomist Katrine Saito arrived in Uganda for talks on an\neconomic recovery program projected to cost one billion dlrs\nover three years.\n The four-member mission is expected to stay two to three\nweeks. An International Monetary Fund (IMF) team is due here\nover the same period, a World Bank offical said.\n The World Bank last year criticised Uganda's policies on\ndeficit financing and exchange and interest rates, issues\nlikely to dominate talks on the government's proposed recovery\nprogram.\n Finance Minister Chrispus Kiyonga said last month that most\nof the one billion dlrs would go towards rehabilitating\nindustries, repairing and maintaining roads and buying tractors\nand other agricultural needs.\n He did not say where the money would come from, but\ndiplomats expect the government to ask the World Bank and other\nforeign donors to provide most of the foreign exchange portion.\n REUTER\n\u0003", "date": " 3-MAR-1987 12:40:56.58", "organisations": [ "imf", "worldbank" ], "places": [ "uganda" ], "id": "1175" }, { "title": "INTERMEDICS INC 1ST QTR FEB ONE NET", "body": "Oper shr 26 cts vs 18 cts\n Oper net 2,877,000 vs 1,838,000\n Revs 44.3 mln vs 40.8 mln\n NOTE: Current 1st qtr oper net excludes operating loss\ncarryforward of 1,694,000 or 16 cts per share. 1986 1st qtr\noper net excludes loss carryforward of 78,000 dlrs or one ct\nper share and loss from discontinued operations of 475,000\ndlrs.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:43:33.36", "topics": [ "earn" ], "places": [ "usa" ], "id": "1176" }, { "title": "CARME INC 2ND QTR JAN 31 NET", "body": "Shr nine cts vs one ct\n Net 247,489 vs 27,301\n Sales 1,933,107 vs 796,613\n Six mths\n Shr 21 cts vs five cts\n Net 565,106 vs 121,997\n Sales 3,781,970 vs 1,778,110\n Reuter\n\u0003", "date": " 3-MAR-1987 12:43:47.29", "topics": [ "earn" ], "places": [ "usa" ], "id": "1177" }, { "title": "WILLCOX AND GIBBS INC 4TH QTR NET", "body": "Shr 42 cts vs 76 cts\n Net 2.3 mln vs 3.3 mln\n Revs 72.3 mln vs 59.8 mln\n Year\n Shr 1.48 dlrs vs 2.59 dlrs\n Net 7.6 mln vs 11.1 mln\n Revs 261.7 mln vs 224.7 mln\n NOTE: 1985 net includes extraordinary gain of 1.5 mln dlrs\nor 35 cts per share in 4th qtr and 5.1 mln or 1.19 dlrs for the\nyear.\n \n Reuter\n\u0003", "date": " 3-MAR-1987 12:43:56.53", "topics": [ "earn" ], "places": [ "usa" ], "id": "1178" }, { "title": "WALGREEN FEBRUARY SALES RISE", "body": "Walgreen Co said its sales in\nFebruary rose 18.8 pct over sales during the same month last\nyear.\n Walgreen said it sold 328.5 mln dlrs worth of goods in\nFebruary, up from 276.5 mln in February 1986.\n This year's February figures include sales from 65 Medi\nMart drugstores acquired last June by the company. At February\n28, Walgreen operated 1,410 retail units in 30 states and\nPuerto Rico compared to 1,263 last year.\n Calendar year-to-date sales were up 17.2 pct at 666.7 mln\ncompared to 569 mln last year.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:45:48.33", "places": [ "usa" ], "id": "1179" }, { "title": " Italian government has resigned, officials announced\n", "date": " 3-MAR-1987 12:46:21.36", "places": [ "italy" ], "id": "1180" }, { "title": "OMNICOM GROUP INC 4TH QTR NET", "body": "Shr profit 27 cts vs profit 51 cts\n Net profit 6,600,000 vs profit 12.2 mln\n Revs 211.7 mln vs 193.4 mln\n Qtly div 24.5 cts vs 24.5 cts\n Avg shrs 24.2 mln vs 23.8 mln\n Year\n Shr loss 17 cts vs profit 1.27 dlrs\n Net loss 4,077,000 vs profit 30.1 mln\n Revs 753.5 mln vs 673.4 mln\n Avg shrs 24.4 mln vs 23.7 mln\n NOTE: Qtly div payable April six to holders of record March\n16.\n 1986 4th qtr and year net includes a charge of 5.9 mln dlrs\nand 31.4 mln dlrs, respectively, for corporate restructuring.\n\n Reuter\n\u0003", "date": " 3-MAR-1987 12:48:12.59", "topics": [ "earn" ], "places": [ "usa" ], "id": "1181" }, { "title": "FORD MOTOR CO OF CANADA LTD CUTS ANNUAL DIV", "body": "Annual div six dlrs vs 12 dlrs prior\n Pay March 19\n Record March 13\n Note: 1986 payout includes two dlrs a share extra dividend\n 1985 payout includes four dlrs a share extra dividend\n Reuter\n\u0003", "date": " 3-MAR-1987 12:48:38.30", "topics": [ "earn" ], "places": [ "canada" ], "id": "1182" }, { "title": "ITALIAN GOVERNMENT RESIGNS", "body": "Italian Prime Minister Bettino Craxi and\nhis five-party coalition government have resigned, officials\nsaid.\n A statement from the Quirinal presidential palace said head\nof state Francesco Cossiga had reserved his decision on whether\nto accept the resignation, normal procedure when a government\nstands down.\n The statement said Cossiga had asked Craxi, who has been\nprime minister for a post-war record of three-and-a-half years,\nto continue to handle current government business.\n REUTER\n\u0003", "date": " 3-MAR-1987 12:48:58.53", "places": [ "italy" ], "id": "1183" }, { "title": "TOTAL U.S. COPPER STOCKS LOWER IN JANUARY", "body": "Total copper stocks held by U.S. rod\nmills and refiners (including wirebars, cathodes, scrap, rod\nand in-process material) dropped to 155,467,000 lbs at the end\nof January from 203,513,000 lbs at the end of December, the\nAmerican Bureau of Metal Statistics said.\n Rod stocks held by refiners and rod mills decreased to\n61,384,000 lbs in January from 69,986,000 lbs in December.\n Cathode inventories at rod mills fell to 86,456,000 lbs in\nJanuary from 124,409,000 lbs in December, while wirebar stocks\nwere lower at 3,508,000 lbs versus 4,913,000 lbs in December.\n December rod mill wirebar use nearly doubled to 3,148,000\nlbs in January from 1,540,000 lbs in December. Cathode use by\nmills and refiners increased to 255,266,000 lbs in January from\n238,821,000 lbs in December.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:49:09.01", "topics": [ "copper" ], "places": [ "usa" ], "id": "1184" }, { "title": "ONE OFFER FOR SRW WHEAT ON CALL SESSION, NO MILO", "body": "One offer but no bid was posted for SRW\nwheat on the call session at the St Louis Merchants Exchange\ntoday. There were no bids or offers for milo.\n June 15-July 15 bill of lading for wheat was offered at 17\nover July, no comparison, no bid.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:53:09.38", "topics": [ "grain", "wheat" ], "places": [ "usa" ], "id": "1185" }, { "title": "LORAL DEBT LOWERED BY S/P", "body": "Standard and Poor's Corp said it\nlowered the ratings on Loral Corp's subordinated debt to BBB\nfrom A-minus.\n The issue is removed from creditwatch where it was placed\nwith negative implications in January after Loral said it\nplanned to acquire Goodyear Aerospace Corp for 640 mln dlrs.\n S/P said the acquisition enhances Loral's competitive\nposition in the defense electronics industry by broadening its\ntechnology and program base. But most measures of financial\nrisk deteriorate, it said.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:54:11.28", "places": [ "usa" ], "id": "1186" }, { "title": "GUARANTEE UNIT'S DEBT ON S/P WATCH", "body": "Standard and Poor's Corp said it placed\nthe subordinated debt of Guarantee Savings and Loan\nAssociation, the principle unit of Guarantee Financial Corp, on\ncreditwatch with positive implications.\n About 57 mln dlrs of debt is affected.\n S/P said the move follows Gurantee's definitive agreement\nto be acquired by Glendale Federal Savings and Loan, the fifth\nlargest S and L in the U.S.\n The combination with Glendale should enhance the\ncreditworthiness of Guarantee's debt, S/P said.\n Gurantee's subordinated debt is currently rated B.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:54:48.79", "places": [ "usa" ], "id": "1187" }, { "title": "UNITED HEALTHCARE CORP 4TH QTR NET", "body": "Shr 10 cts vs 13 cts\n Net 1,553,000 vs 1,541,000\n Revs 73.1 mln vs 32.1 mln\n Avg shrs 15,474,000 vs 12,316,000\n Year\n Shr 47 cts vs 24 cts\n Net 7,241,000 vs 2,835,000\n Revs 216.2 mln vs 101.2 mln\n Avg shrs 15,492,000 vs 11,921,000\n Note: Net income includes extraordinary profit from\nrecognition of tax loss carryforward of 920,000 dlrs, or six\ncts a share, in 1986 year, and of 785,000 dlrs, or seven cts a\nshare, in both 1985 periods.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:54:57.73", "topics": [ "earn" ], "places": [ "usa" ], "id": "1188" }, { "title": "GENERAL AUTOMATION SETS LEASING PACT", "body": "General Automation Inc said it\nhas arranged a ten-mln-dlr leasing facility with Wells Fargo\nand Co's Wells Fargo Leasing Corp.\n The program is a one-year facility that will allow\nfinancing for ZEBRA computers, other General Automation systems\nand applications sofware, the company said.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:55:04.17", "places": [ "usa" ], "id": "1189" }, { "title": "LONDON OPTIONS MARKET SEES CONTINUED HIGH GROWTH", "body": "The London Stock Exchange's traded\noptions market plans volume growth of at least 80 pct a year,\nand will more than double the range of options available by the\nend of 1988, options committee chairman Geoffrey Chamberlain\nsaid.\n He told a news conference that more options contracts were\ntraded in 1986 than in the previous seven years of the market's\nexistence.\n Chamberlain said the daily average volume of contracts\ntraded in February this year almost tripled to 53,056 from\n19,034 in the same month last year, and further rapid growth\nwas expected.\n \"We're aiming for 100 stock option classes by the end of\n1988,\" said Chamberlain. These would correspond to the eligible\nconstituents of the FT-SE 100 share index.\n Chamberlain added that two new equity options were to be\nintroduced this month. Options will be available in Sears Plc\n from March 4, and in Plessey Co. Plc from\nMarch 19.\n The London Stock Exchange is the largest outside the United\nStates for options trading. Forty-five equity options, two\ncurrency options, two government bond (gilt) options and an\noption on the FTSE-100 index are available at present.\n Chamberlain said the Stock Exchange aimed to consolidate\nthe London options market's leading position in Europe,\nespecially important with French and Swiss equity options\ntrading planned to start this year.\n \"I'd go so far as to say the plans for growth are\nconservative,\" one leading options analyst said, predicting\ncontinuing volume growth of around 20 pct a month for at least\nthe next year.\n He said much of the recent growth in options had come from\ninter-market-maker trading aimed at hedging book positions. But\nnow the retail options market was beginning to take off.\n The market trades from a corner of the now largely deserted\nfloor of the London Stock Exchange. The floor has been left\nalmost empty in the wake of the recent regulatory changes in\nthe equity and gilts (government bond) markets, which have\nencouraged a move to electronic off-floor trading.\n Yesterday, the Stock Exchange decided to close the floor to\nequities trading altogether, and said it expected to make a\nfinal decision on the floor's future by the end of 1987.\n The floor space could be used for a purpose-built options\nmarket, but Chamberlain said that it was unlikely that the\noptions market would need more than half of the available\nspace.\n REUTER\n\u0003", "date": " 3-MAR-1987 12:55:12.85", "places": [ "uk" ], "id": "1190" }, { "title": "RAYTECH CORP 4TH QTR DEC 28 NET", "body": "Shr profit 78 cts vs loss 1.05 dlrs\n Net profit 2,336,000 vs loss 3,002,000\n Revs 26.0 mln vs 26.7 mln\n Year\n Shr profit 1.59 dlrs vs loss 6.35 dlrs\n Net profit 4,688,000 vs loss 18.2 mln\n Revs 113.5 mln vs 112.4 mln\n NOTE: 1986 4th qtr and yr includes loss carryfoward of\n534,000 dlrs and 1,662,000 dlrs, respectively.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:55:22.54", "topics": [ "earn" ], "places": [ "usa" ], "id": "1191" }, { "title": "DATAMAG INC 1ST QTR DEC 31 LOSS", "body": "Net loss 92,623 vs profit 11,209\n Sales 93,483 vs 189,388\n Note: per share data not available, as company went public\nin January, 1987.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:55:41.33", "topics": [ "earn" ], "places": [ "usa" ], "id": "1192" }, { "title": "ROYAL BANK SEES IMPROVED RESULTS", "body": ", in reporting a\n19 pct drop in first quarter earnings, said it expects to\nreport improved results in future earnings periods.\n \"Healthy consumer credit growth, record fee-based income,\nhighly profitable securities and foreign exchange trading, and\na solid capital position...combined with the restraint of\nnon-interest expenses, should lead to improved results in the\nperiods ahead,\" chairman Allan Taylor said in a statement.\n The bank earlier reported profit for the first quarter\nended January 31 fell to 114 mln dlrs from 140 mln dlrs a year\nago.\n Taylor said loans to the energy sector continue to\nsubstantially hurt earnings while profitability of the bank's\ninternational operations remains weak, reflecting\nresource-related difficulties of private and public sector\nborrowers and unsatisfactory results from capital market\nactivities.\n The bank said earnings from domestic operations rose to 103\nmln dlrs in the first quarter from 98 mln dlrs a year ago while\nearnings from international operations plunged to 11 mln dlrs\nfrom 42 mln dlrs last year.\n Royal Bank said first quarter international net interest\nincome declined from last year, reflecting reduced revenues\nfrom international investment banking as well as a significant\nloss on disposal of its affiliate in Trinidad and Tobago.\n Other income rose to 251 mln dlrs from 220 mln dlrs last\nyear. The rise was due to higher commercial banking and retail\ndeposit service fees, and higher foreign exchange revenue but\nlower securities commissions from international investment bank\noperations partly offset the gains, Royal Bank said.\n The bank said a two billion dlr increase in total assets to\n98.7 billion dlrs was due mainly to continued growth in\nconsumer lending, particularly residential mortgages.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:56:05.10", "topics": [ "earn" ], "places": [ "canada" ], "id": "1193" }, { "title": "WORLD BANK LAUNCHES 300 MLN MARKKA BOND ISSUE", "body": "The World Bank is launching a 300 mln\nmarkka seven-year straight issue, due March 11, 1994 with a\ncoupon of 10 pct payable semi-annually and an issue price of\n101-1/8, lead manager Postipankki said.\n It said fees totalled 1-3/4 pct, of which 1-3/8 pct for\nselling and 3/8 pct for managment and underwriting combined\nincluding a 1/8 pct praecipuum.\n Denominations are 10,000, 100,000 and one mln markka and\nlisting is in Helsinki, it said.\n REUTER\n\u0003", "date": " 3-MAR-1987 12:56:30.92", "organisations": [ "worldbank" ], "places": [ "finland" ], "id": "1194" }, { "title": "SUN MICROSYSTEMS SETS PACT WITH PHILIPS", "body": "Sun Microsystems Inc said it has agreed\nto cooperate with Philips Corporate Group Home Interactive\nSystems, a Dutch electronics firm, to develop a multi-media\nauthoring computer system.\n The system will be based upon the integration of Sun\nworkstation and Compact Disc Interactive technologies, the\ncompany said.\n The authoring systems are collections of hardware, system\nutilities and software to enable Comact Disc Interactive\napplication developers to design, assemble and test\ninteractive, multi-media applications in entertainment,\neducation and information for consumer and institutions.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:57:40.70", "places": [ "usa" ], "id": "1195" }, { "title": "STEELHEAD RESOURCES LEASES FELDSPAR MINE", "body": "Steelhead Resources Ltd said it\nhas leased some feldspar deposits and will begin feldspar\nmining operations near Wickenburg, Arizona.\n The company said the deposits contain in excess of 500,000\ntons of feldspar.\n Reuter\n\u0003", "date": " 3-MAR-1987 12:57:45.78", "places": [ "usa" ], "id": "1196" }, { "title": "BELGIAN SAYS EC WOULD REACT TO TEXTILE BILL", "body": "Belgian Foreign Trade Minister Herman\nDe Croo said if Congress passed legislation curbing world\ntextile imports the only way the European Community (EC) could\nreact was to retaliate.\n De Croo said at a news conference \"if you limit textile\nimports, you will re-orient textiles to Europe.\"\n And that he said would trigger EC taxes on U.S. goods.\n Congress passed a textile bill two years ago, but it was\nvetoed by President Reagan on grounds that curbing imports to\nprotect the domestic textile industry would trigger retaliation\nU.S. trading partners.\n A similar bill has been introducted this year, in a\nCongress with a bigger Democratic majority and with a President\nweakened by the Iran scandal.\n De Croo, here for talks with Administration officials and\nCongressmen, said if a textile bill passed, \"the only way we\ncould react would be retaliation, and it would cause more\nretaliation, which is not a good way to deal with problems.\"\n He said if a textile bill was enacted, \"we will impose taxes\non a lot of American products.\" He said \"it would be stupid. We\nhave to avoid that.\"\n He said Congressmen seem upset mosty with Japan, because of\nits massive trade suprlus with the United States, and not with\nEC nations, but EC nations will be hurt by the diverted \nshipments of Asian textiles.\n De Croo also criticized the way U.S. officials try to solve\nEC trade issues, saying \"each time we come in contact, it a\nconflict contact. The clouts are coming fom the West.\"\n He said it then is a crisis atmosphere with officials cross\nthe Atlantic and dramatized with headlines.\n \"This is not the way to work in a serious way between two\nbig powers,\" De Croo said.\n \n reuter\n\u0003", "date": " 3-MAR-1987 12:58:39.80", "topics": [ "trade" ], "organisations": [ "ec" ], "places": [ "usa", "belgium" ], "id": "1197" }, { "title": "KAY CORP 4TH QTR NET", "body": "Oper shr 25 cts vs 1.21 dlrs\n Oper net 1,366,000 vs 6,287,000\n Revs 251.3 mln vs 107.1 mln\n Year\n Oper shr 1.10 dlrs vs 1.06 dlrs\n Oper net 5,552,000 vs 4,982,000\n Revs 827.5 mln vs 434.4 mln\n NOTE: Oper net excludes results of Kay Jewelers Inc, a\nformer subsidiary. On Dec 31, 1986 company distributed\nremaining 80.4 pct interest in subsidiary to Kay Corp holders.\n 1985 amts restated in connection with company's\ndistribution of investment in Kay Jewelers Inc.\n 1986 4th qtr and yr oper net excludes 8,308,000 dlrs or\n1.52 dlrs per share, and 7,774,000 dlrs or 1.54 dlrs per share,\nrespectively, for equity in net income of spun-off unit. 1985\n4th qtr and yr oper net excludes 6,806,000 dlrs or 1.28 dlrs\nper share and 5,770,000 dlrs or 1.09 dlrs per share,\nrespectively, for equity in net earnings of spun-off unit.\n 1985 oper net also excludes 2,778,000 or 52 cts per share\nfor adoption of new pension accounting rules and ine cts per\nshare for gain from assets sales.\n Reuter\n\u0003", "date": " 3-MAR-1987 13:02:15.90", "topics": [ "earn" ], "places": [ "usa" ], "id": "1198" }, { "title": "ROSTENKOWSKI SAYS HE WILL OPPOSE PROTECTIONIST TRADE BILL IN U.S. HOUSE\n", "date": "3-MAR-1987 13:04:18.47", "topics": [ "trade" ], "places": [ "usa" ], "id": "1199" }, { "title": "PANTASOTE INC 4TH QTR LOSS", "body": "Oper shr loss four cts vs loss 33 cts\n Oper net loss 154,000 vs loss 1,301,000\n Sales 30.0 mln vs 27.0 mln\n Year\n Oper shr profit 60 cts vs loss 16 cts\n Oper net profit 2,364,000 vs loss 608,000\n Sales 113.5 mln vs 132.8 mln\n NOTE: Net excludes extraordinary charges from provision for\nroofing products warranties and costs from sale of\nprinting/laminate division of 320,000 dlrs vs 10.3 mln dlrs in\nquarter and 4,3200,000 dlrs vs 12.7 mln dlrs in year.\n Net excludes tax credits of 62,000 dlrs vs 41,000 dlrs in\nquarter and 127,000 dlrs vs 88,000 dlrs in year.\n Reuter\n\u0003", "date": " 3-MAR-1987 13:06:07.24", "topics": [ "earn" ], "places": [ "usa" ], "id": "1200" }, { "title": "ROSTENKOWSKI OPPOSES PROTECTIONIST TRADE BILL", "body": "House Ways and Means Committee\nChairman Dan Rostenkowski said Congress must avoid a temptation\nto pass a protectionist trade bill this year.\n In remarks prepared for delivery before the National Press\nClub, Rostenkowski, D-Ill., predicted major trade legislation\nwill be sent to President Reagan by the end of this year.\n But he warned that his \"conciliatory message\" on the trade\nbill did not mean he would oppose a proposal that would warn\nother countries their access to the American market would be\ncurtailed unless they opened their markets to U.S. goods.\n \"Complaints about (foreign trade) restraints are not a\nsmoke screen for protectionism, they a plea for fairness,\"\nRostenkowski said.\n \"It is only reasonable to ask the nations that have denied\nus access to open up in return for continued freedom in the\nAmerican market,\" he added.\n However, he said there would likely be changes in the\nmarket access proposal from the plan which cleared the House\nlast year. That plan would have set a specific time table for\nforeign countries to ease import restraints or they would face\na 25 pct cut in exports to the United States.\n Reuter\n\u0003", "date": " 3-MAR-1987 13:07:32.63", "topics": [ "trade" ], "places": [ "usa" ], "id": "1201" }, { "title": "CORRECTED - GM SEES RISE IN EUROPEAN SALES", "body": "General Motors hopes to sell between\n7,000 and 8,000 North American-made vehicles in Europe this\nyear, a five-fold rise over the year before, James Fry, vice-\npresident of GM Overseas Distribution Corporation said.\n \"The low dollar makes our prices very attractive,\" he told a\nnews briefing before the opening of the Geneva Motor Show.\n \"We would like to sell between 7,000 and 8,000 units in\nEurope for the year to August 1987,\" he told Reuters later.\nOfficials said GM sold 1,500 North American-made vehicles in\nthe 1986 model year.\n More\n\u0003", "date": " 3-MAR-1987 13:07:41.38", "places": [ "switzerland" ], "id": "1202" }, { "title": "IMTEC GETS MERGER OFFER", "body": "Imtec Inc said some\nshareholders of Computer Identics Inc have proposed a\nmerger of the two companies.\n The company said the shareholders had previously expressed\ndissatisfaction with Computer Identics' management and had\ninformed Computer Identics that the present board no longer had\nthe support of a majority of shares held.\n It said the shareholders had called for the resignation of\nall but one of Computer Identics' directors and suggested that\na new board pursue merger talks with Imtec. But Imtec said no\nmerger talks havew yet taken place.\n Reuter\n\u0003", "date": " 3-MAR-1987 13:08:10.59", "topics": [ "acq" ], "places": [ "usa" ], "id": "1203" }, { "date": " 3-MAR-1987 13:08:45.51", "id": "1204" }, { "title": "KAY JEWELERS INC 4TH QTR NET", "body": "Shr 1.62 dlrs vs 1.33 dlrs\n Net 10.3 mln vs 8,459,000\n Revs 127.5 mln vs 95.7 mln\n Year\n Shr 1.52 dlrs vs 1.20 dlrs\n Net 9,669,000 vs 7,481,000\n Revs 278.1 mln vs 232.00 mln\n \n Reuter\n\u0003", "date": " 3-MAR-1987 13:11:08.44", "topics": [ "earn" ], "places": [ "usa" ], "id": "1205" }, { "title": "ROSTENKOWSKI CALLS FOR U.S. DEFICIT CUT NEAR 36 BILLION DLRS\n", "date": " 3-MAR-1987 13:11:40.41", "places": [ "usa" ], "id": "1206" }, { "title": "ICO PACT UNLIKELY BY AUTUMN - ITALIAN ADVISER", "body": "The prospects of the\nInternational Coffee Organization (ICO) reaching an agreement\non coffee export quotas before September appear dim, Alberto\nHesse, former president of the European Coffee Federation,\nsaid.\n \"There is no real goodwill in certain delegations to go to\nquotas,\" Hesse, who advises the Italian Foreign Affairs Ministry\non coffee issues, told Reuters. He declined to name the\ndelegations.\n A special meeting between importing and exporting countries\nended in a deadlock late yesterday after eight days of talks\nover how to set quotas.\n The ICO executive board will meet from March 30 to April 1\nbut the full council is not due to meet again until September.\n\"I am not optimistic about an agreement soon,\" Hesse said.\n Reuter\n\u0003", "date": " 3-MAR-1987 13:13:14.46", "topics": [ "coffee" ], "organisations": [ "ico-coffee" ], "places": [ "italy" ], "id": "1207" }, { "title": "WALL STREET STOCKS/ANACOMP INC ", "body": "Anacomp Inc, one of the most actively\ntraded NYSE issues, rose today as at least one analyst expected\nearnings to be boosted by its planned acquisition of a\nmicrographics company.\n Anacomp rose 1/2 to 6-3/4 on volume of 950,000 shares after\ntrading as high as seven earlier.\n Howard Harlow, analyst at Whale Securities Corp, said\nAnacomp's earnings for fiscal 1987 ending September 31 could be\ndoubled to 80 cts a share from the 40 cts a share he had\nforecast before Anacomp agreed to buy DatagraphiX, a\nmicrographics firm, from General Dynamics Corp .\n \"The company can earn 80 cts a share in fiscal 1987, maybe\nas much as a dlr a share, because of DatagraphiX,\" Harlow said.\n\"Most of the benefit will be in the fourth qtr because it will\nintegrate the company in the second half.\"\n Anacomp's earnings will be less if it has problems\nintegrating DatagraphiX, Harlow said.\n A spokesman at Anacomp said the company expects to complete\nits deal for DatagraphiX later this month. She would not say\nhow much it will pay for DatagraphiX, but noted that\nDatagraphiX contributed 10 mln dlrs in earnings to General\nDynamics on revenues of 239 mln dlrs in 1986.\n Harlow said a fellow analyst at Whale Securities estimates\nthat Anacomp will pay between 100 mln dlrs to 150 mln dlrs for\nDatagraphiX. \"The estimates on the street narrow it down to\nbetween 110 mln dlrs and 130 mln dlrs,\" Harlow added.\n Anacomp reported net of 2.8 mln dlrs or nine cts a share in\nits first qtr ended December 31, up from 301,000 dlrs or one ct\na share.\n In Anacomp's fiscal 1986 it earned 4,073,000 dlrs or 13 cts\na share.\n Whale Securities recommends buying the stock, Harlow said.\n Reuter\n\u0003", "date": " 3-MAR-1987 13:13:47.06", "topics": [ "earn" ], "places": [ "usa" ], "id": "1208" }, { "title": "CORRECTED - LIFETIME TO BUY NIPPON LACE SAHRES", "body": "Lifetime Corp said it agreed to buy\nfive mln shares or 16 pct of for 3.28 dlrs\na share, or 16.5 mln dlrs.\n It said it plans to enter the health care business in\nJapan.\n In addition, it said , an\naffiliate of Nippon, will buy four mln unissued shares, or a 12\npct stake, of Lifetime for 20 mln dlrs or five dlrs a share. -\nCorrects to show Nippon's affiliate Koba buying stake in\nLifetime.\n \n Reuter\n\u0003", "date": " 3-MAR-1987 13:14:06.08", "topics": [ "acq" ], "places": [ "usa" ], "id": "1209" }, { "title": "U.K. EXPORTS BODY GETS NEW EXECUTIVE DIRECTOR", "body": "Export Credits Guarantee Department has\nnamed Malcolm Stephens, director of export finance at Barclay's\nBank Plc and a former career civil servant at ECGD for 17\nyears, to the post of executive director, a department\nspokesman said.\n Stephens replaces Jack Gill, who is retiring early aged 57.\n A drop in the ECGD's business volume and a rise in its debt\nto the Exchequer have led to criticism in Parliament in recent\nyears.\n Stephens said the fall in business volume was a top\nconvern, adding that the department may have to compete more\naggressively with private insurance firms providing similar\nservices.\n The department's annual report for the year ended March 31,\n1986, showed exports insured by the department fell to 15.7\nbillion stg from 17.4 billion the year before, while its debt\nto the Exchequer almost doubled to 756 mln stg.\n Stephens said he had no specific list of changes. But among\nhis chief concerns was the weakened condition of lesser\ndeveloped countries and their ability to pay for their imports.\n The agency will have to review its policies on insuring\nexport credits to lesser credits on a country by country basis,\nhe said. \"Large lump political risk insurance is the sort of\nthing we want to take a look at.\"\n \"You have to try to look forward to see if you are simply in\na peak and trough situation or it is a more long term thing,\"\nStephens said, in response to a qustion about whether ECGD will\nstrike more countries from its list of political risk insurance\nrecipients.\n He noted that certain countries have already been removed\nfrom the list.\n REUTER\n\u0003", "date": " 3-MAR-1987 13:15:51.58", "topics": [ "trade" ], "places": [ "uk" ], "id": "1210" }, { "title": "OILS/FATS STOCKS SEEN FALLING SHARPLY IN 1986/87", "body": "Visible stocks of 17 oils and fats are\nprobably peaking now and are likely to fall sharply by October\n1 this year, the Oil World newsletter said.\n Oil World forecast that stocks of oils and fats may be cut\nto only 9.8 mln tonnes at the end of this season, compared with\n10.6 mln a year earlier.\n Its survey covered 13 oils -- soy, cotton, groundnut, sun,\nrape, sesame, corn, olive, coconut, palmkernel, palm, lin and\ncastor -- and four animal oils and fats -- butter, fish oil,\nlard and tallow/greases.\n Oil World's analysis predicted only a slight production\nincrease of 0.5 mln tonnes in the year to end-September 1987,\ncompared with increases of 3.6 mln and 4.0 mln tonnes in the\nprevious two seasons.\n It said world consumption was continuing to rise. Unusually\nlow prices prevailing since early 1986 had stimulated demand\nfor both food and non-food purposes, it said.\n World consumption could increase by a record 2.8 mln\ntonnes to 71.8 mln tonnes this season and would be even higher\nif the Indian government did not artificially curb domestic\ndemand.\n Oil World said it did not expect the European Community\n(EC) to introduce a vegetable oils tax, but if such a tax were\nintroduced it would have a negative impact on EC consumption.\n Reuter\n\u0003", "date": " 3-MAR-1987 13:16:23.75", "topics": [ "veg-oil" ], "places": [ "west-germany" ], "id": "1211" }, { "title": "COLOMBIA TRADERS SAY NEW COFFEE STRATEGY VITAL", "body": "Coffee producing countries must quickly\nmap out a fresh common strategy following the failure of the\nInternational Coffee Organization, ICO, to reach agreement on\nexport quotas, Gilberto Arango, president of Colombia's private\ncoffee exporters' association, said.\n Arango told Reuters that the most intelligent thing now\nwould be to seek a unifying stand from producers, including\nBrazil, in order to map out a strategy to defend prices.\n An ICO special meeting ended last night in London with\nexporting and consuming nations failing to agree on a\nresumption of export quotas, suspended one year ago after\nprices soared following a prolonged drought in Brazil.\n Arango said there would be no imminent catastrophe but\npredicted that over the short term prices would undoubtedly\nplummet.\n However, he said the market should also take into account\nevident factors such as Brazil's low stocks and the sale of the\nnear totality of the Central American crop.\n Trade sources said Colombia's coffee was today quoted at\n1.14 dlrs a lb in New York, its second lowest price in the past\n10 years.\n Cardenas said these countries apparently fail to understand\nthe true impact of such a failure for coffee producing nations\nas well as for industrialized countries.\n It is difficult to believe that while efforts are made to\nsolve the problem of the developing world's external debt,\ndecisions are being taken which cut earnings used for repaying\nthose debts, he said.\n \"In Colombia's case, we watch with consternation that,\nwhile we try to effectively combat drug trafficking, countries\nwhich support us in this fight seek to cut our jugular vein,\"\nCardenas said.\n Reuter\n\u0003", "date": " 3-MAR-1987 13:22:20.55", "topics": [ "coffee" ], "organisations": [ "ico-coffee" ], "places": [ "colombia", "brazil" ], "id": "1212" }, { "title": "TENDER LOVING , STAFF EXTEND PACT", "body": "Tender Loving Care Health Care\nServices Inc said it and Staff Buildiers Inc have extended the\nterm of their merger agreement until May 31.\n Tender Loving Care also said agreed not to\nacquire any additional Staff Builders shares until September\n30, adding Norrell was paid 750,000 dlrs for the standstill\narrangement. \n Tender Loving Care said it agreed to buy the 610,000 Staff\nBuilders common held by Norrell, about 19.1 pct of those\noutstanding, for 6,950,000 dlrs immediately prior to the\nconsummation of the merger.\n Tender Loving Care said the extended merger agreement\ncontinues to provide for the exchange of 1.6 of its shares for\neach Staff Builders share outstanding.\n As announced February 26, the Staff Builders shareholders\nmeeting to vote on the merger, originally convened and\nadjourned December 23, will be reconvened on April 22.\n Tender Loving Care said its payment to Norrell will include\n1,950,000 dlrs in cash and five mln dlrs of a new series of\neight pct Tender Loving Care convertible preferred.\n Tender Loving Care said it and Staff Builders have filed a\nrevised registration and proxy statement with the Securities\nand Exchange Commission. Upon clearance of the revised proxy\nstatement by the commission and its distribution to Staff\nBuilders' shareholders, that company's management will continue\nto solicit proxies for approval of the merger.\n Tender Loving Care said it will have the power to vote\nabout 15.8 pct of Staff Builders' shares at the adjourned\nmeeting with a spokesman explaining that this represents the\nproxies held by Norrell, which started buying the stock after\nthe record date for the meeting.\n In addition, Staff Builders officers and directors own\nabout 13.8 pct of its stock and have agreed to vote in favor of\nthe merger.\n Accordingly, the vote of an additional 37.1 pct of the\noutstanding shares will be required to approve the merger,\nTender Loving Care said.\n Reuter\n\u0003", "date": " 3-MAR-1987 13:23:39.33", "topics": [ "acq" ], "places": [ "usa" ], "id": "1213" }, { "title": "TALKING POINT/AUTO SUPPLIER STOCKS", "body": "The 1987 outlook for U.S. auto sales is\nclouded by a decidedly mixed sales forecast, and analysts who\nfollow the industry say it is also true for companies that sell\nparts and equipment to the major car and truck manufacturers.\n But while there are only four major U.S.-based automakers\nwhose shares are traded on stock exchanges, there are thousands\nof big and small suppliers who sell a flood of original and\nreplacement parts.\n Analysts who follow the parts industry say there are many\nopportunities for investors brought on by the auto industry's\nintensified competition and the large volume of production in\nNorth America planned by Japanese automakers.\n But assessing the supplier arena is far more complicated\nthan for investors considering the stocks of the Detroit Big\nThree - General Motors Corp , Ford Motor Co and\nChrysler Corp .\n Despite widespread predictions that U.S. vehicle sales will\ndecline about 10 pct from the record 1987 levels, Wall Street\nfinancial experts are still generally bullish on Ford and\nsomewhat less so on Chrysler.\n And analysts remain largely neutral to bearish on GM, the\nindustry giant whose earnings have been dropping along with its\nsales as it struggles to reorganize and shed its unprofitable\nparts-making businesses.\n more\n\u0003", "date": " 3-MAR-1987 13:25:05.20", "places": [ "usa" ], "id": "1214" }, { "title": "SOVIET SOYMEAL IMPORTS SEEN RISING IN 1987", "body": "Soviet imports of soymeal may reach or\nexceed one mln tonnes between January and September this year,\nthe Oil World newsletter said.\n Oil World said it was likely the Soviet Union would reduce\nsoybean imports and step up significantly its imports of meal.\n At least 500,000 tonnes of soymeal may be shipped from the\nEuropean Community and South America in the January/March\nquarter, with additional large quantities likely to be imported\nin the April and July quarters from Argentina and Brazil, it\nsaid. No figures were given for imports in the corresponding\nperiods of 1986.\n The change made sense in view of the recent purchases of\nprobably 250,000 tonnes of West European and Polish rapeseed\nand large scale butter imports that were expected from March\nonward, it said.\n Oil World said substantial losses of Soviet winter grain\narea due to recent severe frosts were probably behind the\nrecent pick-up in Soviet purchases of U.S. Corn.\n It noted that an additional one mln tonnes of U.S. Corn had\nbeen bought recently by the Soviet Union.\n Reuter\n\u0003", "date": " 3-MAR-1987 13:25:40.40", "topics": [ "meal-feed", "soy-meal", "grain", "corn" ], "places": [ "west-germany", "ussr", "usa" ], "id": "1215" }, { "title": "COLOMBIA TO SELL SUGAR, LONDON TRADERS SAY", "body": "Colombia is holding a snap selling tender\ntonight for one cargo of world market raw sugar, traders said.\n The sugar is for March 15/April 15 shipment and bids are\nbeing sought based on the New York May delivery futures\ncontract, they added.\n Reuter\n\u0003", "date": " 3-MAR-1987 13:26:49.70", "topics": [ "sugar" ], "places": [ "uk", "colombia" ], "id": "1216" }, { "title": "VARIAN IN TALKS WITH PHILIPS ELECTRONICS", "body": "Varian Associates Inc said it\nis holding discussions with Philips Electronics regarding the\npurchase of Philips' broadcast transmission unit in the United\nKingdom, Pye TVT Limited.\n Pye TVT designs and manufactures broadcast transmission\nequimpment, specializing in television frequencies.\n Reuter\n\u0003", "date": " 3-MAR-1987 13:28:25.86", "topics": [ "acq" ], "places": [ "usa" ], "id": "1217" }, { "title": "JAGUAR FEBRUARY U.S. SALES FALL", "body": "Jaguar PLC's Jaguar Cars Inc U.S.\nsubsidiary said February sales were 1,466, down from 1,673 a\nyear before.\n The company said it expects a resumption of U.S. sales\ngrowth towards the latter half of 1987.\n Jaguar said year-to-date U.S. sales were 2,523, down from\n2,684 a year before.\n Reuter\n\u0003", "date": " 3-MAR-1987 13:30:42.16", "places": [ "usa" ], "id": "1218" }, { "title": "FRUIT OF THE LOOM OFFERS DEBENTURES, NOTES", "body": "Fruit of the Loom Inc said it is\noffering 60 mln dlrs of 6-3/4 pct convertible subordinated\ndebentures due March 2002 and 250 mln dlrs of 10-3/4 pct senior\nsubordinated notes due July 1995.\n Both issues are priced at par. The convertible debentures\nmay be exchanged for class A common stock at the holder's\noption at 11.25 dlrs. Drexel Burnham Lambert Inc is lead\nmanager for both offerings.\n The convertible debentures are rated B-3 by Moody's\nInvestors Service Inc and CCC-plus by Standard and Poor's Corp.\nThe notes are rates B-2 by Moody's and CCC-plus by S/P.\n Reuter\n\u0003", "date": " 3-MAR-1987 13:30:59.38", "places": [ "usa" ], "id": "1219" }, { "title": "BUTLER TO SELL PART OF UNIT", "body": "Butler Manufacturing Co said it\nagreed in principal to sell part of its controls division to\nEnercon Data Corp of Minneapolis.\n Terms of the sale were not disclosed.\n The transaction, expected to be closed in March, involves\nthe controls division's energy management and power line\ncarrier product lines.\n Butler said costs associated with the sale were included in\nits restructuring charge taken in last year's fourth quarter,\nand will have no effect on its 1987 earnings.\n Reuter\n\u0003", "date": " 3-MAR-1987 13:31:26.89", "topics": [ "acq" ], "places": [ "usa" ], "id": "1220" }, { "title": "COMMONWEALTH REALTY IN REFINANCING DEAL", "body": "Commonwealth Realty Trust said\nit has transferred its ownership of six buildings at the Valley\nForge Executive Mall in Valley Forge, Pa., to an equally-owned\njoint venture with Pennsylvania Public School Employees'\nRetirement System as part of a refinancing.\n The trust said it received five mln dlrs for its half\ninterest in the buildings.\n It said it also received a 32 to 33 mln dlr eight-year\n9.375 pct mortgage loan on the buildings, with the entire\nprincipal payable at the end of the term. After associated\ncosts, it said it realized net proceeds of about 20 mln dlrs in\ncash on the transactions, 100 mln dlrs of which it will use to\nrepay debt under its credit lines.\n Reuter\n\u0003", "date": " 3-MAR-1987 13:32:01.13", "places": [ "usa" ], "id": "1221" }, { "title": "DYNAMICS RESEARCH GETS NAVY CONTRACT", "body": "Dynamics Research Corp said it\nhas received a two-year 9,995,000 dlr U.S. Navy contract to\nsupply a number of accelerometer test stations and spares for\nTrident submarine guidance systems.\n Reuter\n\u0003", "date": " 3-MAR-1987 13:32:37.39", "places": [ "usa" ], "id": "1222" }, { "title": "KMW COFOUNDR RESIGNS FROM BOARD", "body": "KMW Systems Corp said cofounder\nFred R. Klingensmith has resigned as a voting director and\nbecome an advisory or non-voting director.\n The company said Klingensmith is founder and president and\nKRL Systems Inc, which plans to develop customized systems\nbased in part on products bought from KMW. It said he left the\nboard to avoid a conflict of interests but remains a major KMW\nshareholder.\n Reuter\n\u0003", "date": " 3-MAR-1987 13:33:00.56", "places": [ "usa" ], "id": "1223" }, { "title": "WORLD BANK TEAM ARRIVES IN UGANDA", "body": "A World Bank team led by senior\neconomist Katrine Saito arrived in Uganda for talks on an\neconomic recovery program projected to cost one billion dlrs\nover three years.\n The four-member mission is expected to stay two to three\nweeks. An International Monetary Fund (IMF) team is due here\nover the same period, a World Bank offical said.\n Finance Minister Chrispus Kiyonga said last month that most\nof the one billion dlrs would go towards rehabilitating\nindustries, repairing and maintaining roads and buying tractors\nand other agricultural needs.\n He did not say where the money would come from. Diplomats\nexpect the government to ask the World Bank and other foreign\ndonors to provide most of the foreign exchange portion.\n Reuter\n\u0003", "date": " 3-MAR-1987 13:33:20.18", "organisations": [ "imf", "worldbank" ], "places": [ "uganda" ], "id": "1224" }, { "title": "FERTILITY AND GENETICS RESEARCH 1ST QTR", "body": "Periods ended December 31\n Shr loss 10 cts vs loss seven cts\n Net loss 316,289 vs loss 189,140\n Revs 61,762 vs 8,934\n Reuter\n\u0003", "date": " 3-MAR-1987 14:15:59.92", "topics": [ "earn" ], "places": [ "usa" ], "id": "1225" }, { "title": "ROSTENKOWSKI RELUCTANT TO BACK TAX HIKE", "body": "House Ways and Means Committee\nChairman Dan Rostenkowski said he would be reluctant to back\nthe tax increase if it did not have President Reagan's support.\n He told a National Press Club luncheon there would be a\nnumber of tax proposals that could be debated if Reagan sought\na tax increase to help balance the budget.\n However, he said he would prefer to leave the tax rates\nenacted in last year's tax reform bill unchanged.\n There have been calls in Congress to hold the rates at the\n1987 level rather than allow them to fall next year.\n Reagan proposed 22 billion dlrs in revenue as part of his\n1988 budget proposal, but it did not include general tax\nincreases.\n On trade issues, Rostenkowski said he did not expect the\nmajor trade bill this year would single out any U.S. industry\nfor special protection.\n \"To go after individual items in a trade bill is suicide,\"\nhe said.\n This apparently ruled out congressional approval of another\ntextile trade bill to limit quotas on textile imports, as was\nproposed again this year.\n Reuter\n\u0003", "date": " 3-MAR-1987 14:17:36.13", "topics": [ "trade" ], "places": [ "usa" ], "id": "1226" }, { "title": "AMR AIRCRAFT FINANCING SEEN POSITIVELY", "body": "The deal AMR Corp cut to buy 40 new\nplanes is a plus for the company because it clearly puts the\nfinancial burden on aircraft manufacturers Boeing Co and\n, a European consortium, analysts said.\n \"The terms put most of the risk on the shoulders of the\nmanufacturers,\" said analyst Kevin Murphy of Morgan Stanley and\nCo. \"They're called walkaway leases.\"\n AMR agreed to buy 15 planes from Boeing and 25 from Airbus\nbut said its American Airlines unit will lease the aircraft,\nwhich essentially will be owned by the manufacturers.\n AMR declined to value the deal, which analysts estimated at\nroughly 2.4 billion dlrs. American Airlines will use the\nplanes, scheduled for delivery in 1988 and 1989, to expand its\nservice in the Caribbean and to Europe.\n But AMR will not lay out cash deposits to pay for the\nplanes, nor will it take on new debt to finance the purchases.\nThe carrier has 20-year leases on the aircraft, with four-year\nextension options, and may cancel the leases with 30 days\nnotice by paying a small penalty, according to AMR chairman\nRobert Crandall.\n \"We're getting the aircraft on very favorable terms,\"\nCrandall told a press briefing here. He called the deals \"off\nbalance sheet\" limited obligation leases, under which the\nfinancing is provided by the manufacturers.\n A spokesman for Airbus confirmed those terms. \"We will own\nthe aircraft and they will be leasing them from us,\" he said.\nAirbus is providing American Airlines with 25 of its twin-jet,\nlong-range A300-600 planes.\n A spokesman for Boeing Commercial Airplane Co, the unit of\nBoeing that makes the long-range 767-300 planes that are part\nof the deal, declined to comment on financing arrangements.\n Analysts said \"walkaway lease\" deals have been used before\nby airlines buying aircraft, particularly new generations of\nplanes, but not to this extent.\n Julius Maldutis of Salomon Brothers Inc said the deal will\ngive AMR financial stability as it grows. \"AMR is using the\nmanufacturers' balance sheets to finance these airplanes and\nconsequently, its debt to equity ratio will remain stable into\nthe early 1990s,\" he said.\n \"The deal reflects a fundamental trend where airlines will\nincreasingly become operators of assets rather than owners\" to\nreduce their exposure to risk, he added.\n Reuter\n\u0003", "date": " 3-MAR-1987 14:17:59.90", "places": [ "usa" ], "id": "1227" }, { "title": " SETS MERGER WITH BALZAC", "body": "Magellan Corp said it has entered into a\nletter of intent to acquire Balzac Investments Inc in a\ntransaction that will result in former Balzac shareholders\nowning about 83 pct of the combined company.\n The company said on completion of the merger, the combined\ncompany wopuld be known as Power-Cell Inc and be engaged in the\ndevelopment of Balzac technology related to its Quick Charge\nproduct for charging auto batteries.\n The transaction is subject to approval by shareholders of\nboth companies.\n Reuter\n\u0003", "date": " 3-MAR-1987 14:28:45.25", "topics": [ "acq" ], "places": [ "usa" ], "id": "1228" }, { "title": "UNITED COS FINANCIAL CORP 4TH QTR NET", "body": "Shr 68 cts vs 78 cts\n Net 2,432,179 vs 2,236,471\n Revs 50.8 mln vs 35.1 mln\n Avg shrs 3,600,000 vs 2,850,000\n Year\n Shr 2.82 dlrs vs 3.35 dlrs\n Net 10.0 mln vs 9,554,658\n Revs 177.5 mln vs 138.1 mln\n Avg shrs 3,567,123 vs 2,850,000\n Reuter\n\u0003", "date": " 3-MAR-1987 14:29:20.05", "topics": [ "earn" ], "places": [ "usa" ], "id": "1229" }, { "title": "IMF APPROVES 125.9 MLN SDR'S FOR JAMAICA", "body": "The International Monetary Fund said\nit approved 125.9 mln SDR's to assist development in Jamaica.\n Of this total, 85 mln SDR's can be drawn over the next 15\nmonths under a standby arrangement in support of the\ngovernment's economic and financial program.\n Another 40.9 mln is available immediately under the\ncompensatory financing facility, the IMF's pool of funds to\nassist countries hit by export shortfalls. The IMF said that\nJamaica had a shortfall in the year ended September 1986 due to\nreduced sales of Bauxite, alummina and travel expenditures.\n After some deterioration, the situation and prospects for\nJamaica improved substantially in 1986 and early 1987, mainly\nas a result of a decline in energy prices and interest rates,\nand a strong recovery in the tourist sector, the IMF said.\n The program that the new funding supports is designed to\ncontinue the adjustment and restructuring effort so as to\nachieve sustained growth, a lower rate of inflation and a\nbalance of payments viability in the medium term.\n Reuter\n\u0003", "date": " 3-MAR-1987 14:32:10.59", "organisations": [ "imf" ], "places": [ "usa", "jamaica" ], "id": "1230" }, { "title": "GM TO CLOSE NORWOOD PLANT IN AUGUST", "body": "General Motors Corp said it will cease\nproduction at its Norwood, Ohio, car assembly plant effective\nAugust 26 to reduce output of the sporty CHevrolet Camaro and\nPontiac Firebird models built there.\n \"After careful review and analysis of our capacitry\nrequirements, it has become necessary for us to close Norwood\nat the end of the 1987 model year,\" GM vice-president and group\nexecutive Robert Schultz said.\n GM previously said it would close the plant in a capacity\nreduction, but did not specify a precise date. The cars will\nstill be built at GM's Van Nuys, Calif., plant.\n Reuter\n\u0003", "date": " 3-MAR-1987 14:33:16.43", "places": [ "usa" ], "id": "1231" }, { "title": "FERTILITY/GENETICS STUDIES ALTERNATIVES", "body": "Fertility and Genetics Research Inc said\nit will not establish further free-standing ovum transfer\ncenters and is exploring the establishment of general fertility\ncenters and alternative businesses.\n The company said this followed its evaluation of\nunpublished technical information regarding some competing\ntechnology which, if substantiated and replicated, could\nadversely affect the company's operations.\n Fertility and Genetics said the non-surgical ovum transfer\nprocedure will continue to remain a viable option for infertile\ncouples to consider among the several alternative procedures\navailable in advanced reproductive medicine.\n \"In particular, it is medically and psychologically\nsuperior to surrogate motherhood, because the fertilized egg is\ntransferred prior to the gestation process, rather than after\nmaternal bonding with the child has taken place,\" the company\nexplained without further reference to the unpublished\ntechnical information.\n Reuter\n\u0003", "date": " 3-MAR-1987 14:37:58.70", "places": [ "usa" ], "id": "1232" }, { "title": "EXECUTIVE TELECOM CHANGES MEETING DATE", "body": "Executive Telecommunications Inc\nsaid the recently announced joint board of directors meeting\nwith to negotiate the details of\nthe First Equipment reverse takeover offer has been changed\nfrom March 12 to March 16.\n XTEL said the move was made to accommodate several of the\ndirectors with conflicting schedules.\n First Equipment recently offered to buy XTEL in a reverse\ntakeover deal in which the new company would retain the XTEL\nname.\n Reuter\n\u0003", "date": " 3-MAR-1987 14:43:48.64", "places": [ "usa" ], "id": "1233" }, { "title": "BRISTOL-MYERS CO SETS QUARTERLY", "body": "Qtly div 70 cts vs 70 cts prior\n Pay May One\n Record April Three\n Reuter\n\u0003", "date": " 3-MAR-1987 14:44:17.23", "topics": [ "earn" ], "places": [ "usa" ], "id": "1234" }, { "title": "PERINI INVESTMENT BUYS FLORIDA PROPERTIES", "body": "Perini Investment Properties\nInc said it has purchased three industrial/warehouse properties\nin Boca Raton, Fla., and one in Pompano Beach, Fla., for an\nundisclosed amount.\n The company said the purchases increase its\nindustrial/warehouse inventory by about 252,000 square feet.\n Reuter\n\u0003", "date": " 3-MAR-1987 14:45:29.33", "places": [ "usa" ], "id": "1235" }, { "title": "FBI CHIEF WEBSTER REFUSES COMMENT ON CIA POST", "body": "FBI Director William Webster refused\nall comment on whether he has been approached to head the\nCentral Intelligence Agency.\n After testifying before a Senate Judiciary Committee,\nWebster answered repeatedly with \"no comment\" when asked by\nreporters if he has been approached.\n Webster has been mentioned as a possible top choice to head\nthe spy agency following President Reagan's forced withdrawal\nof the nomination of acting director Robert Gates, to succeed\nailing ex-CIA chief William Casey.\n Reuter\n\u0003", "date": " 3-MAR-1987 14:45:51.48", "places": [ "usa" ], "id": "1236" }, { "title": "AMERICAN ADVENTURE SETS BANKRUPTCY PLAN", "body": "American Adventure Inc said a\nU.S. Bankruptcy Court confirmed its reorganization plan.\n The plan calls for the sale of substantially all the assets\nof the company to a new company that will retain the same name,\nbut be incorporated in Delaware.\n The comany said the transaction is expected to close later\nthis month.\n Shareholders will receive one share of stock in the new\ncompany for every 10 shares they hold currently.\n Reuter\n\u0003", "date": " 3-MAR-1987 14:48:29.68", "places": [ "usa" ], "id": "1237" }, { "title": "AMERICAN AIRCRAFT CORP BUYS PRIVATE FIRM", "body": " said it\nhas acquired a 51 pct interest in privately-held .\n The purchase was made for an undisclosed amount of American\nAircraft stock, the company said.\n It said the acquisition will increase shareholder equity in\nAmerican Aircraft to 45 cts per share from 18 cts per share.\n Hunter Helicopter builds two-passenger helicopters that\nretail for about 50,000 dlrs.\n Reuter\n\u0003", "date": " 3-MAR-1987 14:50:47.02", "topics": [ "acq" ], "places": [ "usa" ], "id": "1238" }, { "title": "AID CORP RAISES QUARTERLY DIVIDEND", "body": "Qtly div nine cts vs eight cts in prior qtr\n Payable March 31\n Record March 13\n Reuter\n\u0003", "date": " 3-MAR-1987 14:51:45.95", "topics": [ "earn" ], "places": [ "usa" ], "id": "1239" }, { "title": "AMERICAN NETWORK REDUCES CUSTOMER RATES", "body": "American Network Inc said it has\nreduced its long distance telephone service rates by two to 15\npct.\n The reductions apply to the company's subsidiaries, STARNET\nInternational Inc and American Telephone Exchange.\n Reuter\n\u0003", "date": " 3-MAR-1987 14:54:19.29", "places": [ "usa" ], "id": "1240" }, { "title": "NATIONAL DATA SIGNS PACT WITH US SPRINT", "body": "National Data Corp said it signed a\nmulti-year contract with US Sprint to provide the long distance\ntelephone company with around the clock operator services.\n National Data said it was the first step in establishing a\nCenter Services Divisioin.\n The company said it will provide 24-hour, 7-day-a week\nservices to the long distance network, and expects the\nagreement to generate in excess of eight million dlrs in\nrevenue during the current fiscal year, which ends May 31,\n1987.\n The new services will allow subscribers to make collect,\nperson-to-person and station-to-station calls, and to receive\ncall assistance services anywhere in the U.S., the company\nsaid.\n Reuter\n\u0003", "date": " 3-MAR-1987 14:57:45.23", "places": [ "usa" ], "id": "1241" }, { "title": "HEWLETT-PACKARD UNVEILS NEW PRODUCTS", "body": "Hewlett Packard Co said it\nunveiled the HP LaserJet Series II printer, the next generation\nof its laser printer line.\n The company said the HP LaserJet II offers more\ncapabilities than earlier models, but at 2,495 dlrs, costs 500\ndlrs less than previous machines. The LaserJet II prints eight\npages a minute and can be used for desktop publishing, word\nprocessing, and spreadsheet and graphics printing.\n It also said it introduced a larger laser printer to\naccommodate numerous workstations and a machine used to scan\ndocuments.\n The company also said it introduced the HP LaserJet 2000,\nits first printer designed to be used with personal computer\nnetworks, departmental systems and minicomputers. It can print\n20 pages a minute, and has an entry price of 19,995 dlrs.\n It also unveiled the SP ScanJet, a flatbed desktop device \nthat scans printed images of text. The scanner works like a\nphotocopier storing the copied images on a hard disk, the\ncompany said. It costs 1,495 dlrs.\n Hewlett Packard also said it brought out a new family of\nplotter machines, the HP Draftmasters I and II. The new models\nreplace the HP 758X series of drafting-plotter line machines\nused for computer aided design. The Draftmaster costs 9,900\ndlrs, and the Draftsmaster II, 11,900 dlrs.\n A smaller plotter, called the DraftPro, was priced at 5,400\ndlrs. It is designed for use with a personal computer.\n Reuter\n\u0003", "date": " 3-MAR-1987 14:57:57.04", "places": [ "usa" ], "id": "1242" }, { "title": "INTERNATIONAL TECHNOLOGY MAKES ACQUISITION", "body": "International Technology Corp\nsaid it has purchased in a\npooling-of-interests transaction.\n International Technology, a hazardous materials management\ncompany, said it purchased Western Emergency, an environmental\nservices firm, to offer a broader range of environmental\nservices to the Gulf Coast area.\n Reuter\n\u0003", "date": " 3-MAR-1987 14:58:33.67", "topics": [ "acq" ], "places": [ "usa" ], "id": "1243" }, { "title": " INCREASES DIVIDEND", "body": "Semi-annual 30 cts vs 25 cts prior\n Pay June 30\n Record June 15\n Reuter\n\u0003", "date": " 3-MAR-1987 15:01:50.58", "topics": [ "earn" ], "places": [ "canada" ], "id": "1244" }, { "title": " 4TH QTR NET", "body": "Oper shr 25 cts vs 25 cts\n Oper net 6,322,000 vs 4,660,000\n Revs 189.1 mln vs 174.7 mln\n Avg shrs 23.5 mn vs 17.1 mln\n Year\n Oper shr 1.04 dlrs vs 14 cts\n Oper net 21,929,000 vs 3,629,000\n Revs 760.2 mln vs 674.8 mln\n Avg shrs 20.5 mln vs 17.1 mln\n Note: Qtr shr and net exclude tax gain of 4,573,000 dlrs or\n17 cts share, versus gain of 17,259,000 dlrs or 1.02 dlrs share\n Year shr and net exclude tax gain of 15,992,000 dlrs or 78\ncts share, versus gain of 18,042,000 dlrs or 1.06 dlrs share\n Reuter\n\u0003", "date": " 3-MAR-1987 15:04:50.88", "topics": [ "earn" ], "places": [ "canada" ], "id": "1245" }, { "title": "PERU COFFEE CROP UNAFFECTED BY RAINS", "body": "Recent heavy rains have not affected the\nPeru coffee crop and producers are looking forward to a record\nharvest, the president of one of Peru's four coffee cooperative\ngroups said.\n Justo Marin Ludena, president of the Cafe Peru group of\ncooperatives which accounts for about 20 pct of Peru's exports,\ntold Reuters a harvest of up to 1,800,000 quintales (46 kilos)\nwas expected this year. He said Peru exported 1,616,101\nquintales in the year to September 1986.\n A spokesman for the Villa Rica cooperative said flood\nwaters last month had not reached coffee plantations, and the\ncrop was unaffected.\n Floods in early February caused extensive damage in Villa\nRica, whose coffee cooperative exported 59,960 quintales last\nyear, according to the state-controlled coffee organisation.\n Marin said the rains would only affect the coffee crop if\nthey continued through to next month, when harvesting starts.\n He said Peruvian producers were hoping for an increase this\nyear in the 1.3 pct export quota, about 913,000 quintales,\nassigned to them by the International Coffee Organisation, ICO.\n He said Peru exported 1,381,009 quintales to ICO members\nlast year with a value of around 230 mln dlrs, and another\n235,092 quintales, valued at around 35 mln dlrs, to non-ICO\nmembers.\n Reuter\n\u0003", "date": " 3-MAR-1987 15:05:42.80", "topics": [ "coffee" ], "places": [ "peru" ], "id": "1246" }, { "title": "WHITE HOUSE SAYS REAGAN TO MAKE 1530 EST/2030 GMT ANNOUNCEMENT, TOPIC UNDISCLOSED\n", "date": " 3-MAR-1987 15:06:34.16", "places": [ "usa" ], "id": "1247" }, { "title": "BRAZILIAN FINANCE MINISTER MEETS STOLTENBERG", "body": "Brazilian Finance Minister Dilson Funaro,\non the third leg of a trip to explain his country's stance on\ndebt to European governments, met West German Finance Minister\nGerhard Stoltenberg for talks this evening and the two men were\ncontinuing their discussions over dinner, Brazilian delegation\nsources said.\n They said the Funaro and Stoltenberg discussed Third World\ndebt in general and Brazil's debt position in particular but\ndeclined to give further details.\n Funaro was scheduled to travel to Switzerland tomorrow,\nthey added.\n Reuter\n\u0003", "date": " 3-MAR-1987 15:10:05.25", "places": [ "west-germany", "brazil" ], "id": "1248" }, { "title": "GAO SAYS FSLIC SHOWS DEFICIT, NEEDS FUNDS", "body": "The Federal Savings and Loan\nInsurance Corp is facing a deficit because of its potential\nliability from insolvent savings associations, the General\nAccounting Office told a House Banking hearing.\n \"We have preliminarily determined that FSLIC needs to \nestablish a contingent liability in the range of eight billion\ndlrs to handle cases that will require action in the near\nfuture,\" Frederick Wolf of the GAO said.\n \"When that amount is deducted from FSLIC's reserves, FSLIC\nwould have a deficit of over three billion dlrs as of the end\nof 1986. Clearly, FSLIC needs additional funds to resolve the\nlarge backlog of insolvent and unprofiable savings associations\nthat continue to operate,\" Wolf said.\n He urged the committee to support the Treasury Department's\nplan to raise 25 billion dlrs over five years to recapitalize\nFSLIC.\n Wolf said as of Septmember, 1986, about 85 pct of FSLIC\ninsured savings associations were solvent, while 15 pct were\ninsolvent.\n He said 80 pct of savings associations were profitable,\nearning a total of 6.9 billion dlrs during the first three\nquarters of the year, while the other 20 pct of associations\nlost a total of five billion dlrs in the same period.\n The GAO is the investigating agency of Congress.\n Roy Green, president of the Federal Home Loan Bank of\nDallas, estimated his district would need five billion to eight\nbillion dlrs over the next five years to close 12 Texas savings\nassociations and 14 associations in nearby states which he said\nare considered \"hopelessly insolvent\".\n Reuter\n\u0003", "date": " 3-MAR-1987 15:10:58.54", "places": [ "usa" ], "id": "1249" }, { "title": "REAGAN TO MAKE ANNOUNCEMENT", "body": "The White House said President Reagan\nwould make an announcement at 1530 EST/2030 gmt but the topic\nwas undisclosed.\n A spokesman said officials would brief reporters on details\nof the announcement afterwards.\n Athough Reagan's topic was not disclosed, speculation\ncentered on the possible naming of a nominee to to head the CIA\nor a response to the Soviet Union's offer to negotiate a\nseparate arms control agreement on medium range missiles in\nEurope.\n Reuter\n\u0003", "date": " 3-MAR-1987 15:11:40.49", "places": [ "usa" ], "id": "1250" }, { "title": "WILLCOX AND GIBBS INC 4TH QTR NET", "body": "Oper shr 42 cts vs 41 cts\n Oper net 2,322,000 vs 1,785,000\n Sales 72.3 mln vs 59.8 mln\n Avg shrs 5,527,000 vs 4,355,000\n Year\n Oper shr 1.48 dlrs vs 1.40 dlrs\n Oper net 7,637,000 vs 5,973,000\n Sales 261.7 mln vs 224.7 mln\n Avg shrs 5,165,000 vs 4,277,000\n NOTE: 1985 operating net excludes gains of 1,523,000 dlrs,\nor 35 cts a share, in quarter and 5,090,000 dlrs, or 1.19 dlrs\na share, in year from tax carryforwards\n Reuter\n\u0003", "date": " 3-MAR-1987 15:13:31.92", "topics": [ "earn" ], "places": [ "usa" ], "id": "1251" }, { "title": "GE PROFIT OUTLOOK AIDED BY ENGINE ORDER", "body": "One of General Electric Co's biggest\nbusinesses, aircraft engines, will ride a wave of increasing\nprofits into 1991 because of a new contract worth 650 mln dlrs,\nWall Street analysts said.\n Previously, it was expected the business would peak and\ndecline at some point in the next five years. The improved\noutlook results from AMR Corp's decision to order 40 new\nplanes powered by CF6-80C2 GE engines.\n \"Creative financial footwork helped GE get the order,\" said\nNicholas Heymann, analyst at Drexel Burnham Lambert Inc.\n AMR declined to go into detail on financing arrangements\nfor its order of 15 Boeing Co and 25 \ntwinjet long distance aircraft.\n But AMR said it was using \"rent-a-plane leases\" that allow\nit to operate the aircraft without adding to its debt\nstructure. AMR also has the right to decline delivery of the\nplanes or return them on short notice. The arrangement protects\nAMR in the case of an unexpected development such as a severe\ndownturn in the economy.\n From GE's point of view the package looks like a good deal\nfor several reasons, Heymann said.\n GE will be able to record revenue as a sale at the time of\ndelivery, Heymann noted.\n And if for some reason AMR decides not to take the planes\nGE's financial arm, General Electric Financial Services Inc,\nwould have little trouble rounding up another airline that\nwanted the fuel efficient planes. On the whole, the deal\nappears to pose little risk for GE, Heymann said.\n GE's stock declined 1/4 to 103-1/2 on 625,000 shares by\nmidafternoon. H.P. Smith, analyst at Smith Barney, Harris Upham\nand Co said for a 40 billion dlr (revenue) company \"no one\norder will have much of an effect on the stock.\"\n Russell Leavitt, analyst at Salomon Brothers Inc, said the\norder \"will help to maintain a good level of production and\nprofitability in the aircraft engine business\" for GE.\n Heymann sees operating profits from GE's jet engine\nbusiness rising from 870 mln dlrs last year to 1.3 billion dlrs\nby 1991.\n Revenue from jet engines was close to six billion dlrs last\nyear, with well over half of the business in the military\nsector, according to analysts' estimates.\n The rosy outlook for GE's jet engine business coincides\nwith an upbeat performance in other segments.\n Heymann expects GE to earn 1.39 dlrs per share in the first\nquarter of 1987. Saying many will be suprised by the results,\nhe believes GE has shown through its acquisition of RCA Corp\nthat it has a \"unique ability\" to buy a major business and\nreshape it, pruning some parts and recombining parts with other\nelements of its 14 business areas.\n Smith sees GE earning 1.35 dlrs per share in the current\nquarter. He credits good results at RCA, in turn aided by the\nNBC broadcasting operation, and lower interest rates.\n Leavitt sees 1.40 dlrs for the current quarter, in part\ncrediting \"significant benefits from the RCA acquisition.\"\n Reuter\n\u0003", "date": " 3-MAR-1987 15:13:43.66", "topics": [ "earn" ], "places": [ "usa" ], "id": "1252" }, { "title": "TREASURY'S MULFORD SEES MAJOR NEW LENDING FOR BRAZIL, OTHER DEBTORS, IN 1987\n", "date": " 3-MAR-1987 15:14:52.57", "places": [ "brazil" ], "id": "1253" }, { "title": "KODAK CONTINUES DRIVE INTO NEW MARKETS", "body": "Eastman Kodak Co, best known for its\ncameras and film products, took several steps today to boost\nits image as a diversified information systems company.\n The Rochester, N.Y.-based company unwrapped a series of new\nelectronic data and image storage systems that can create vast\ncomputerized libraries of documents and pictures.\n Analysts said Kodak made a good start in the emerging\nmarket for such systems, sales of which are expected to reach\nfive billion dlrs by 1990. But they warned several years may\npass before the new systems contribute to its bottom line.\n Kodak also launched a 50 mln dlr advertising campaign to\npromote its new image. \"We want to be to the imaging market\nwhat IBM is to the data processing market,\" said Edgar J.\nGreco, vice president and general manager of Kodak's business\nimaging systems division.\n While more than 45 pct of Kodak's 11.55 billion dlrs in\nsales for 1986 came from photography products, Kodak said sales\nof copiers, electronic storage systems and other business\nproducts will exceed four billion dlrs this year.\n \"We're launching a major attack on these new markets,\"\nGreco said.\n \"Kodak perceives that these new businesses will be its\nbread and butter,\" said Wertheim and Co analyst Michael Ellman.\n But Richard Schwarz, who follows Kodak for E.F. Hutton and\nCo, said the company will find the profit margins much slimmer\non sophisticated imaging systems than on its consumer\nphotography products. \"The critical problem will be turning a\nprofit,\" he said.\n Kodak also announced the first commerically available\n14-inch optical disk. Kodak said the disk can store the\nequivalent of the contents of 110 file cabinet drawers.\n Reuter\n\u0003", "date": " 3-MAR-1987 15:15:20.63", "places": [ "usa" ], "id": "1254" }, { "title": "IMF APPROVES DEVELOPMENT AID FOR JAMAICA", "body": "The International Monetary Fund,\nIMF, said it approved 125.9 mln sdr's to assist development in\nJamaica.\n Over the next 15 months 85 mln sdr's can be drawn under a\nstandby arrangement in support of the government's economic and\nfinancial program.\n Another 40.9 mln is available immediately following an\nexport shortfall for Jamaica in the year ended September 1986\ndue to reduced income from bauxite, alumina and tourism, the\nIMF said.\n Reuter\n\u0003", "date": " 3-MAR-1987 15:16:01.64", "organisations": [ "imf" ], "places": [ "usa", "jamaica" ], "id": "1255" }, { "title": "MOBIL CORP FILES FOR OFFER OF ONE BILLION DLRS OF DEBT SECURITIES\n", "date": " 3-MAR-1987 15:17:10.42", "id": "1256" }, { "title": "FRENCH EXPORTERS SEE HIGHER WHEAT SALES TO CHINA", "body": "French exporters estimated that around\n600,000 tonnes of French soft wheat has been sold to China for\ndelivery in the 1986/87 (July/June) year.\n Around 300,000 tonnes were exported to China between July\n1986 and February this year.\n Another 100,000 to 150,000 tonnes will be shipped during\nthis month and around the same amount in April, they said.\n France sold around 250,000 tonnes of soft wheat to China in\n1985/86, according to customs figures.\n However, certain exporters fear China may renounce part of\nits contract with France after being offered one mln tonnes of\nU.S. soft wheat under the Export Enhancement Program in January\nand making some purchases under the initiative.\n Reuter\n\u0003", "date": " 3-MAR-1987 15:17:46.20", "topics": [ "grain", "wheat", "ship" ], "places": [ "france", "china" ], "id": "1257" }, { "title": "BUCKHORN INC 4TH QTR LOSS", "body": "Oper shr loss 1.24 dlrs vs profit 19 cts\n Oper net loss 1,965,000 vs profit 646,000\n Revs 10.5 mln vs 11.6 mln\n Avg shrs 1,741,000 vs 3,581,000\n 12 mths\n Oper shr loss 1.55 dlrs vs profit 42 cts\n Oper net loss vs profit 2,051,000 vs 1,492,000\n Revs 42.9 mln vs 45.5 mln\n Avg shrs 1,816,000 vs 3,581,000\n NOTE: prior qtr excludes loss 229,000, or seven cts per\nshare, for discontinued operations.\n 1986 qtr excludes 159,000 extraodinary loss.\n Excludes loss 293,000, or 16 cts per share, for 1986 and\ngain 651,000, or 18 cts per share, for 1985 for discontinued\noperations.\n Excludes loss 256,000 for 1986 net for extraordinary item.\n Reuter\n\u0003", "date": " 3-MAR-1987 15:18:36.88", "topics": [ "earn" ], "places": [ "usa" ], "id": "1258" }, { "title": "TREASURY'S MULFORD SEES BRAZIL LENDING PROGRESS", "body": "Assistant Treasury Secretary David\nMulford said rapid progress was being made in talks with\ncommercial banks for loans to Argentina, the Philippines and\nBrazil.\n \"This should result in substantial new lending for the\nmajor debtors in 1987,\" he said in prepared testimony for the\nSubcommittee on International Development Institutions of the\nU.S. House of Representatives.\n Until recently, commercial banks were slow to conclude new\nfinancing packages pending completion of a Mexican package,\nMulford said.\n \"We are concerned about the backlog of other financial\npackages and would like to see these move ahead soon,\" he said,\n\"There is some evidence that this is already happening.\n Chile signed an agreement with banks last week, and there\nwas also an agreement with Venezuela on rescheduling principal\npayments on previously renegotiated debt.\n \"We look for rapid progress in commercial bank discussions\nwith Argentina, the Philippines, and ultimately Brazil,\" he\nsaid.\n Reuter\n\u0003", "date": " 3-MAR-1987 15:19:01.84", "places": [ "usa", "brazil", "argentina", "philippines" ], "id": "1259" }, { "title": "BUCKHORN INC SEES HIGHER PROFITS IN 1987", "body": "Buckhorn Inc said itd nine\nmillion dlr backlog for orders and a less expensive operating\nenvironment should yield significant levels of operating\nprofits for 1987.\n Buckhorn, a manufacturer of reusable plastic shipping and\nstorage containers, recorded 2,051,000, or 1.55 dlrs per share,\noperating net loss for 1986.\n Buckhorn said the year's results included a 4,250,000\nnon-recurring expense incurred to complete major restructuring\nefforts and to defend against the hostile tender offer from\nRopak Corporation.\n \n Reuter\n\u0003", "date": " 3-MAR-1987 15:21:08.19", "topics": [ "earn" ], "places": [ "usa" ], "id": "1260" }, { "title": "MOBIL FILES FOR ONE BILLION DLR DEBT OFFER", "body": "Mobil Corp filed with the Securities\nand Exchange Commission for a shelf offering of up to one\nbillion dlrs of debt securities on terms to be determined at\nthe time of the sale.\n Proceeds from the sale will be used for general corporate\npurposes, the company said.\n Mobil did not name any underwriters for the offering.\n Reuter\n\u0003", "date": " 3-MAR-1987 15:21:53.21", "places": [ "usa" ], "id": "1261" }, { "title": "CIIT PLANS RIGHTS OFFERING", "body": " said it filed a final\nprospectus for a 15 mln dlr rights offering to subscribe for\n1.1 mln common shares at 13.85 dlrs each.\n Under the terms of the offering, each common share holder\nwill receive 1-1/2 rights for each common share held on March\n13 and each right will entitle the holder to subscribe for one\ncommon share at 13.85 dlrs each by April 13, the company said.\n Reuter\n\u0003", "date": " 3-MAR-1987 15:22:24.71", "places": [ "canada" ], "id": "1262" }, { "title": "ALCAN, BERTONE MAKE ALUMINUM STRUCTURE CAR", "body": "Alcan Aluminium Ltd said it joined with\nCarrozzeria Bertone S.P.A. to exhibit Alcan's technology in\naluminum structured vehicles at Geneva's international auto\nsalon.\n Alcan said it and Bertone have built several Bertone X1/9\nsports cars with structures of adhesively bonded sheet\naluminum. It said the bodies were made on presses used for\nBertone's steel-structured sports cars.\n Alcan said two of the cars are currently being tested in\nBritain by the Motor Industry Research Association.\n Alcan said it has developed and tested the aluminum\nstructure technology so that it is suitable for modern auto\nmaking methods and plants.\n Alcan said the technology, which reduces the weight of a\ncar's basic structure by up to 50 pct, can improve handling and\nperformance and reduce fuel consumption for any size car. It\nsaid the structures also provide long life without the need for\nrust protection.\n The structure provides the same stiffness and safety as\npresent materials, while continuously bonded seams allow a 65\npct reduction in spot welds, Alcan said.\n Reuter\n\u0003", "date": " 3-MAR-1987 15:22:58.70", "topics": [ "alum" ], "places": [ "canada" ], "id": "1263" }, { "title": "CCR VIDEO 1ST QTR NOV 30 NET", "body": "Shr 2-1/5 cts vs nil\n Net 156,726 vs 11,989\n Sales 1,157,883 vs 890,138\n\n Reuter\n\u0003", "date": " 3-MAR-1987 15:24:51.90", "topics": [ "earn" ], "places": [ "usa" ], "id": "1264" }, { "title": "DEL E. WEBB INVESTMENT 4TH QTR NET", "body": "Shr eight cts vs 16 cts\n Net 188,000 vs 354,000\n Revs 538,000 vs 594,000\n Year\n Shr 31 cts vs 28 cts\n Net 692,000 vs 617,000\n Revs 2,640,000 vs 906,000\n (Del E. Webb Investment Properties Inc)\n Reuter\n\u0003", "date": " 3-MAR-1987 15:25:41.79", "topics": [ "earn" ], "places": [ "usa" ], "id": "1265" }, { "title": "AID PROPOSES NAME CHANGE", "body": "AID Corp said its stockholders\nwill be asked to change the company's name to ALLIED Group Inc\nto more closely reflect the corporate logo adopted last year.\n It said stockholders of record March 31 will be eligible to\nvote at the meeting.\n The company said its board has approved an amendment to the\npooling agreement effective January one, whereby will increase its participation by assuming 33\npct of ALLIED Group's combined written premiums. AMCO had\npreviously assumed 30 pct of the combined written premiums.\n With this amendment, AID said, its subsidiaries now assume\n41 pct of the total combined written premiums.\n Reuter\n\u0003", "date": " 3-MAR-1987 15:27:00.76", "places": [ "usa" ], "id": "1266" }, { "title": "MOODY'S DOWNGRADES LORAL DEBT", "body": "Moody's Investors Service Inc said it\ndowngraded to Baa-2 from A-3 the rating on Loral Corp's 7-1/4\npct convertible subordinated debentures of 2010 and on 10-3/4\npct subordinated sinking fund debentures due 1997.\n Moody's said it took the action, which affects\napproximately 117 mln dlrs of debt, after examining Loral's\nacquisition of Goodyear Aerospace Corp.\n It said the downgrade reflects the substantial increase in\nthe company's debt in order to finance the acquisition and the\nrisks of assimilating such a relatively large acquisition.\n Reuter\n\u0003", "date": " 3-MAR-1987 15:29:00.29", "places": [ "usa" ], "id": "1267" }, { "title": "U.S. EXPORTERS REPORT 104,000 TONNES OF CORN SOLD TO UNKNOWN DESTINATIONS FOR 1986/87\n", "date": " 3-MAR-1987 15:31:48.87", "topics": [ "grain", "corn" ], "places": [ "usa" ], "id": "1268" }, { "title": "F.W. WOOLWORTH'S 1986 PROFITS RISE 21 PCT", "body": "The specialty retailing area continues\nto pay off for F.W. Woolworth Co, once known only as a five and\ndime store chain, which said its 1986 income rose 21 pct.\n It was the fourth consecutive year of profit increases for\nthe New York-based retailer which was founded over 100 years\nago.\n Woolworth's 1986 income rose to 214 mln dlrs or 3.25 dlrs\nper share compared with 1985's profit of 177 mln or 2.75 dlrs\nper share. Revenues for the year rose to 6.50 billion compared\nwith the prior year's 5.96 billion.\n For the fourth quarter, the company reported profits rose\n10 pct to 117 mln dlrs or 1.78 dlrs per share compared with\n1985 fourth quarter results of 106 mln or 1.64 dlrs per share.\nRevenues rose to 2.02 billion from 1.85 billion dlrs.\n Roy Garofalo, Woolworth vice president, told Reuters that\nincome generated by the company's specialty store operations\naccounted for 52 pct of the parent company's 1986 profits.\n He said the company now has 4,700 specialty stores\noperating under 30 different names. Woolworth plans to open 650\nmore specialty stores in 1987. At this time last year, it\noperated 4,100 specialty stores, Garofalo said.\n Garofalo said the largest specialty chain operated by\nWoolworth is Kinney Shoe Stores, followed by the Richman\napparel unit. Among other units are Little Folk Shop, a chain\nof discount children's apparel stores; The Rx Place, a discount\ndrug, health and beauty aid operation; and Face Fantasies,\nwhich sells cosmetics. There are currently about 1,700\nWoolworth general merchandise stores operating worldwide, of\nwhich 1,200 are in the United States.\n Harold Sells, chairman and chief executive of Woolworth,\nsaid in a statement, \"These results are especially gratifying as\nthey are an improvement over last year's record earnings.\"\n Sells that it was the fourth successive year earnings in\neach quarter improved over the corresponding year-earlier\nperiod.\n Woolworth's variety store operations were hard hit in the\n1970's and early 1980's by the quickly growing discount store\nindustry. In an attempt to compete in the 1970's, Woolworth\nopened a discount general store chain, Woolco, and J. Brannam,\na discount apparel chain. Both were failures in the United\nStates, although Woolco still operates in Canada.\n In 1985, however, Woolworth changed its strategy and\nannounced that it would operate specialty stores. At that time,\nthe company said it would create 14 new groups of such stores.\nSpecialty stores generally have higher sales per square foot\nthan general merchandise stores.\n \n Reuter\n\u0003", "date": " 3-MAR-1987 15:32:05.85", "topics": [ "earn" ], "places": [ "usa" ], "id": "1269" }, { "title": "TREASURY'S MULFORD BACKS DEBT CONVERSIONS", "body": "Assistant Treasury Secretary David\nMulford said he prefers debt conversion plans to help heavily\nindebted countries over quick-fix political plans to help ease\ntheir debt burden.\n \"In my view, debt conversions or swaps into either equity\nor local debt claims provide a preferable route to 'debt\nrelief' for the debtor nations, particularly if combined with\nmeasures to encourage new equity investment and the\nrepatriation of flight capital,\" he told the House Subcommittee\non International Development Institutions.\n Mulford criticized what he called large-scale solutions to\nthe debt problems effecting many developing countries, ranging\nfrom debt forgiveness to creating new multilateral institutions\nfor lending.\n \"While such approaches may have some political appeal, they\nare impractical and ultimately counterproductive,\" he said.\n He said debt conversions, or swaps, are more effective\nbecause they eliminate the interest service on converted debt,\ncreate new jobs and open up investment opportunities that can\nhelp indebted countries overcome their own problems.\n Reuter\n\u0003", "date": " 3-MAR-1987 15:33:49.17", "places": [ "usa" ], "id": "1270" }, { "title": "ROYAL RESOURCES CORP 2ND QTR DEC 31 LOSS", "body": "Shr loss 72 cts vs loss 1.48 dlrs\n Net loss 4,466,006 vs loss 9,091,688\n Revs 608,181 vs 1,280,727\n Six Mths\n Shr loss 77 cts vs loss 1.51 dlrs\n Net loss 4,752,455 vs loss 9,265,457\n Revs 1,444,149 vs 2,791,188\n \n Reuter\n\u0003", "date": " 3-MAR-1987 15:34:53.49", "topics": [ "earn" ], "places": [ "usa" ], "id": "1271" }, { "title": "CANADA ECONOMY EXPECTED TO GROW MODERATELY", "body": "Canadian economic growth is expected to\nslow further in 1987, but an improved the trade picture should\nkeep the country from recession, economists said.\n \"The economy is ready for about a 2.0 pct rate of growth\nover the course of 1987,\" said Carl Beigie, Chief Economist at\nDominion Securities Pitfield Ltd.\n Statistics Canada reported that gross domestic product,\ngrew 3.1 pct in 1986, the fourth year of continuous expansion,\nbut down from 1985's four pct.\n In the final quarter, GDP, in 1981 prices and at annualized\nrates, rose a slight 0.2 pct after expanding 0.8 pct in the\nthird quarter.\n \"Essentially it is a flat performance,\" said Warren Jestin,\ndeputy chief economist at the Bank of Nova Scotia.\n Economist Wendy Smith Cork of the brokerage Nesbitt Thomson\nBongard Inc said \"it shows the economy is not moving along very\nsteadily, it's not a very promising number.\"\n \"We weren't surprised, we expected to see one bad quarter\nin Canada, but we don't think there will be a recession,\" she\nadded.\n The rise in GDP was below the 3.3 pct increase forecast by\nFederal Finance Minister Michael Wilson in his budget last\nmonth. He also projected the economy would expand 2.8 pct this\nyear.\n Many economists are less optimistic, predicting growth will\nlikely be in the 2.0 to 2.2 pct range.\n Statistics Canada also reported the country's trade\nperformance deteriorated sharply last year as the deficit in\nthe current account rose to a record 8.8 billion Canadian dlrs\nfrom the previous year's shortfall of 584 mln dlrs.\n \"The sharp increase in the deficit originated from\nmerchandise trade transactions where imports continued to\nadvance strongly whereas exports were virtually unchanged,\" the\nfederal agency said in a statement.\n The merchandise trade surplus was pared to 10.13 billion\ndlrs in 1986 from 17.48 billion dlrs in 1985.\n But economist Cork said the expected upturn in the U.S.\neconomy will lead to increased demand for Canadian goods, and\nhelp fuel the country's modest expansion. Nearly 80 pct of\nCanada's exports are shipped to the U.S. each year.\n Reuter\n\u0003", "date": " 3-MAR-1987 15:36:02.05", "topics": [ "gnp" ], "places": [ "canada" ], "id": "1272" }, { "title": "USDA REPORTS CORN SOLD SOLD TO UNKNOWN", "body": "The U.S. Agriculture Department said\nprivate U.S. exporters reported sales of 104,000 tonnes of corn\nto unknown destinations for shipment in the 1986/87 marketing\nyear.\n The marketing year for corn began September 1, it said.\n Reuter\n\u0003", "date": " 3-MAR-1987 15:36:24.69", "topics": [ "grain", "corn" ], "places": [ "usa" ], "id": "1273" }, { "title": "PRESIDENT REAGAN SAYS U.S. TO SUBMIT DRAFT TREATY ON INTERMEDIATE MISSILES REDUCTION\n", "date": " 3-MAR-1987 15:36:50.80", "places": [ "usa" ], "id": "1274" }, { "title": "BANK OF ENGLAND PROPOSES LIMITS ON UNDERWRITERS", "body": "The Bank of England proposed that banks\nin Britain for the first time will have to seek authorization\nto be lead underwriters of new issues in the euromarkets.\n In addition, the Bank has proposed limits on the amount of\ncredit risk that firms can take on with each new issue they\nlead manage.\n The proposed rules were outlined today in a consultative\npaper on large credit exposures taken by recognized banks and\ndeposit takers and may be modified, the Bank said.\n The rules could affect billions of dollars of eurobond\nsecurities issued each year. In 1986, about 183 billion dlrs of\nnew eurobonds were offered, according to figures compiled by\nEuromoney magazine.\n Up until now, there have been no restrictions on lead\nmanaging eurobond issues.\n However, eurobond market participants believe the Bank of\nEngland is concerned about intense competition for market share\nwhich may have caused some firms to expose themselves to\nimprudent credit risk.\n Competition for market share has been a boon to issuers as\nbanks compete to offer the best terms. But the new rules\nsuggest that some constraints may be placed on competition as\nregulators attempt to ensure that no bank takes on more risk\nthan it can handle. Banking sources said that while the Bank of\nEngland is reluctant to inhibit competition, it is willing to\naccept some constraints in order to ensure that underwriters\nact prudently.\n \"The Bank's assessment of the appropriateness of a bank's\nlead underwriting activity will depend primarily upon the skill\nand experience of the lead underwriter in the particular market\nconcerned...,\" the Bank's proposal said.\n Once a firm has received permission to act as lead\nunderwriter, the exposure will be valued at one-sixth of the\nface amount of the securities. Nominal exposure exceeding 60\npct of capital must be reported to the Bank of England and it\nmust be notified in advance for exposure of over 150 pct of\ncapital.\n The exposure will be determined to exist for a maximum of\n28 days following a binding commitment to underwrite. After\nthat, any remaining exposure from unsold securities will be\nassessed at their full face value.\n The rules would not apply to syndicated loan facilities,\nrevolving credits or commercial paper, the Bank said.\n The Bank also amended other aspects of plans to strengthen\nits supervisory powers over banks in the paper, which called\nfor comments from professionals by March 31 to allow their\npossible inclusion in the Banking Bill in time for its planned\nfinal discussion in Parliament, scheduled before summer.\n The new Banking Bill, updating the 1979 Banking Act, is the\nthird leg of the Conservative government's legislation for the\nsupervision of financial institutions.\n It is to feature alongside the Financial Services Act,\naimed to bolster investor protection, and the Building\nSocieties Act, which put these institutions on an equal footing\nwith banks.\n The proposed legislation would abolish distinctions between\nrecognised banks and licensed deposit-takers and tighten legal\ncontrols, making it a criminal offence to mislead supervisors.\n Proposals to require banks to inform the Bank of England in\nadvance of planned exposures in excess of 25 pct of their\ncapital, and to have the Bank supervise exposures between 10\nand 25 pct of capital, were not under debate, the paper showed.\n However, preliminary consultations with bank\nrepresentatives had shown some of the initial proposals to be\nflawed, it said.\n Most proposed changes involved evaluating exposures on a\ncase-by-case basis rather than along general lines.\n Amendments involved the Bank's proposed treatment of\nexposures by financial institutions acting as banker to other\nunits of their own group of companies, the paper showed.\n They also regarded the treatment of credit exposure to\nlocal governments and other public sector entities, and of\nexposures undertaken by banks that are subsidiaries of banks.\n Proposals on how to value securities given by a debtor as\ncollateral to a credit were slightly changed, the paper showed.\n Exposures taken on by banks acting as creditor within their\nown group of companies would usually be looked into on a\ncase-by-case basis under new proposals, it said.\n The paper said exposures to state-owned industries and\nother public sector authorities in the U.K. and abroad should\nbe given the more lenient treatment of credits to governments\nprovided a government gives unconditional repayment guarantees.\n It cautioned that exposures to U.K. local authorities and\nthose guaranteed by the British Export Credit Guarantee\nDepartment would probably not qualify for such treatment.\n On credits granted by banks which are a subsidiary of\nanother bank, an earlier-proposed 100 pct of capital ceiling\ncould be exceeded in individual cases.\n But the parent bank would have to give a formal undertaking\nto take over the exposure if problems were to occur, and state\nin writing that the exposure was retained in the subsidiary's\nbalance sheet to meet precise group objectives, the paper said.\n On collateral security, it said this \"should normally only\nbe taken into account when considering the acceptability of a\nbank's exposure up to 25 pct of its capital base.\"\n \"The presence of security taken on its own will be\nconsidered by the Bank as an acceptable reason for an exposure\nin excess of 25 pct, but only in the most exceptional\ncircumstances and even then to a very limited extent,\" it said.\n Reuter\n\u0003", "date": " 3-MAR-1987 15:37:19.65", "places": [ "uk" ], "id": "1275" }, { "title": "AMERICAN AIRCRAFT BUYS INTO HELICOPTER BUILDER", "body": " said it\nhas acquired a 51 pct interest in privately-owned for an undisclosed amount of stock.\n An American Aircraft official said the company has an\noption to acquire the remaining 49 pct.\n Hunter Helicopter is in the business of building a two\npassenger helicopter retailing for about 50,000 dlrs each which\nis certified by the Federal Aviation Administration. The\nhelicopters will be manufactured in American Aircraft's Uvalde,\nTexas, plant, it added.\n Reuter\n\u0003", "date": " 3-MAR-1987 15:37:38.08", "topics": [ "acq" ], "places": [ "usa" ], "id": "1276" }, { "title": "PREMIER INDUSTRIAL CORP 
 REGULAR DIVIDEND",
    "body": "Qtly div 11 cts vs 11 cts in prior qtr\n    Payable April 10\n    Record March 23\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:37:42.69",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1277"
  },
  {
    "title": "PREMIER INDUSTRIAL 
 NAMES EXECUTIVES",
    "body": "Premier Industrial Corp said it named\nRobert Warren to the new post of vice chairman and William\nHamilton president, succeeding Warren.\n    Morton Mandel continues as chairman and chief executive\nofficer and Warren continues as chief operating officer, the\ncompany said.\n    Hamilton, formerly senior vice president, will have the\ncompany's three business segments -- maintenance products,\ndistribution of electronic components and manufacture of\nfire-fighting accessories -- reporting to him.\n    Additionally, Philip Sims and Bruce Johnson were named\nexecutive vice presidents, responsible for finance and the\nelectronics group, respectively. Sims continues as treasurer\nand chief financial officer, Premier said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:38:10.09",
    "places": [
      "usa"
    ],
    "id": "1278"
  },
  {
    "title": "AMEX HAS RECORD SEAT SALE",
    "body": "The American Stock Exchange said it\nsold an options principal membership for a record 305,000 dlrs, 56,000\ndlrs more than the previous seat sold on January 19, 1987, and\n35,000 dlrs above the previous record high in 1983.\n    The Exchange said the current bid is 280,000 dlrs and the\ncurrent offer is 315,000 dlrs.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:38:38.75",
    "places": [
      "usa"
    ],
    "id": "1279"
  },
  {
    "title": "INTERNATIONAL TECHNOLOGY  BUYS FIRM",
    "body": "International Technology Corp\nsaid it has purchased privately-held Western Emergency Service\nInc in a stock transaction.\n    Western Emergency, an environmental services firm, has\nannual sales of between one and two mln dlrs, compared to\nInternational Technology's roughly 240-mln-dlr annual sales, a\nspokesman for International Technology said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:39:06.62",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1280"
  },
  {
    "title": "AST RESEARCH INC  NOMINATES BOARD MEMBERS",
    "body": "AST Research Inc said it\nnominated Richard Goeglein, president and chief operating\nofficer for Holiday Corp, and Phillip Matthews, chairman and\nchief executive officer for Echelon Sports Corp, for election\nto its board at the May 19 meeting.\n    Two members of the board, Michael Child and Henry McCance,\nwill retired at the meeting, the company said.\n    AST Research supplies high performance IBM compatible\npersonal computers and  workstations.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:40:45.10",
    "places": [
      "usa"
    ],
    "id": "1281"
  },
  {
    "title": "NORFOLK SOUTHERN  IN BUILDING VENTURE",
    "body": "Norfolk Southern Corp said it\nentered into a joint venture with Sovran Financial Corp \nto build the Sovran III Building, which will be renamed Norfolk\nSouthern Tower.\n    Norfolk Southern said it will locate its headquarters in\nthe tower and occupy the 17th through 21st floors. It did not\ndisclose the financial terms of the venture.\n    The company said construction of the building adjacent to\nthe Royster Building in downtown Norfolk begain in October\n1986. Another story has been added to the original plans,\nmaking a 21-story tower.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:41:10.37",
    "places": [
      "usa"
    ],
    "id": "1282"
  },
  {
    "title": "CONTINENTAL GENERAL INSURANCE  4TH QTR NET",
    "body": "Shr 20 cts vs 21 cts\n    Net 783,564 vs 806,278\n    Year\n    Shr 89 cts vs 86 cts\n    Net 3,443,392 vs 3,242,588\n    Note:Full company name is Continental General Insurance Co\n    Net includes profit from sale of securities of 155,410\ndlrs, or four cts a share, and 192,896 dlrs, or five cts a\nshare, respectively, in 1986 qtr and year, and of 12,879 dlrs,\nor nil per share, in 1985 qtr. Net for 1985 year includes loss\nfrom sale of securities of 315,763 dlrs, or eight cts a share.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:41:19.94",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1283"
  },
  {
    "title": "MARGAUX CONTROLS INC  3RD QTR LOSS",
    "body": "Shr loss 1.60 dlrs vs loss 45 cts\n    Net loss 9,883,000 vs loss 2,744,000\n    Revs 1,309,000 vs 3,289,000\n    Nine mths\n    Shr loss 2.29 dlrs vs loss 98 cts\n    Net loss 14.1 mln vs loss 6,008,000\n    Revs 4,577,000 vs 11.9 mln\n    NOTE: Current periods include loss of 7.5 mln dlrs from\ndiscontinued operations.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:41:33.40",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1284"
  },
  {
    "title": "MERCHANTS GROUP INC  4TH QTR OPER NET",
    "body": "Oper shr profit 21 cts vs loss 2.13 dlrs\n    Oper net profit 456,000 vs loss 2,454,000\n    Revs 16.3 mln vs 13.1 mln\n    Year\n    Oper shr 1.39 dlrs vs loss 2.41 dlrs\n    Oper net profit 1,815,000 vs loss 2,779,000\n    Revs 58.0 mln vs 43.8 mln\n    NOTE: 1986 4th qtr and yr oper net exclude realized\ninvestment gains of 279,000 dlrs and 1,013,000 dlrs,\nrespectively, which includes provision for income taxes of\n238,000 dlrs and 863,000 dlrs for the periods, respectively.\n    1986 4th qtr and yr oper net exclude 606,000 dlrs or 38 cts\nper share and 2,323,000 dlrs or 1.86 dlrs per share, for net\noperating loss carryovers.\n    1985 4th qtr and yr oper net exclude realized investment\ngains of 439,000 dlrs and 666,000 dlrs respectively.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:42:02.39",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1285"
  },
  {
    "title": "HITECH  AND QUME IN PACT",
    "body": "The Hitech Engineering Co and\n said that Hitech has agreed to design and certify\ncertain Qume desktop laser printers for the industrial and\ngovernment TEMPEST market.\n    The TEMPEST program is a set of standards for government\ninformation processing equipment designed to minimize\nelectromagnetic eavesdropping.\n    The companies said that the total TEMPEST market is\nestimated to be around two billion dlrs.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:42:12.41",
    "places": [
      "usa"
    ],
    "id": "1286"
  },
  {
    "title": "CONTINENTAL GENERAL  SETS STOCK DIVIDEND",
    "body": "Continental General Insurance Co\nsaid its board of directors declared a 10 pct stock dividend on\ncommon shares, payable April one to shareholders of record\nMarch 16.\n    The company yesterday paid a quarterly cash dividend of\n2-1/2 cts a share, unchanged from the previous quarter, to\nshareholders of record February 20.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:42:17.82",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1287"
  },
  {
    "title": "MARGAUX CONTROLS INC  3RD QTR DEC 28 LOSS",
    "body": "Shr loss 1.60 dlrs vs loss 45 cts\n    Net loss 9,883,000 vs loss 2,744,000\n    Revs 1,309,000 vs 3,289,000\n    Nine mths\n    Shr loss 2.29 dlrs vs loss 98 cts\n    Net loss 14.1 mln vs loss 6,008,000\n    Revs 4,577,000 vs 11.9 mln\n    Note: 1986 net losses inlcude 7,507,000-dlr charge from\ndiscontinued operations of building management system sold to\nCetek System Inc on Jan 30, 1987.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:42:31.55",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1288"
  },
  {
    "title": "AMERICAN ADVENTURE  PLAN GET APPROVAL",
    "body": "American Adventure Inc said its\nreorganization plan was approved by the United States\nBankruptcy Court for the Western District of the State of\nWashington.\n    The company said the plan calls for the sale of\nsubstantially all of the assets of the company to a new\ncompany, which will retain the name American Adventure Inc, and\nbe incorporated in Delaware.\n    The transaction is scheduled for later this month when\nshareholders of the old company will receive one share of stock\nin the new company for every 10 shares they hold in the old\ncompany, according to American Adventure.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:42:40.10",
    "places": [
      "usa"
    ],
    "id": "1289"
  },
  {
    "title": "REAGAN SAYS U.S. TO OFFER MISSILE TREATY",
    "body": "President Reagan said the United\nStates would offer a draft treaty on medium-range missile\nreductions at talks with the Soviet Union in Geneva tomorrow.\n    Reagan also said in a brief televised appearance in the\nWhite House briefing room that he was summoning Ambassador Max\nKampelman and the other top U.S. arms negotiators home for\nconsultations later this week. He said they will then return to\nGeneva for detailed negotiations on the arms pact.\n    Welcoming Soviet leader Mikhail Gorbachev's offer Saturday\nto proceed with a treaty on Intermediate Range Nuclear forces\n(INF) separate from strategic and space weapons, Reagan said:\n\"This removes a serious obstacle to progress towards INF\nreductions.\"\n    \"To seize this new opportunity I have instructed our\nnegotiators to begin presentation of our draft INF treaty text\nat Geneva tomoorrow,\" Reagan said.\n    He said he wanted to stress that of the issues remaining to\nbe resolved in the negotiations on medium-range U.S. and Soviet\nmissiles, \"none is more important than verification ... Any\nagreement must be effectively verifiable.\"\n    The United States has been working closely with allies and\nfriends in Europe and Asia to develop a proposed treaty on\nreducing these weapons with an eye to their eventual\nelimination, the president said.\n     He said the treaty draft followed the formula he agreed\nupon with Gorbachev at their summit meeting last October in\nReykjavik, Iceland, which was shelved when the Soviet leader\ninsisted on linking approval of such a pact to agreement on\nlong-range strategic missiles and anti-missile defense.\n    \"I remain firmly committed to these objectives,\" he said.\n    He said Gorbachev's new offer Saturday ending the linkage\nof the three areas of negotiations removed a major barrier to\nagreement and was consistent with the Soviet position at the\nearlier Reagan-Gorbachev summit in Geneva in November 1985.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:44:56.07",
    "places": [
      "usa",
      "ussr"
    ],
    "id": "1290"
  },
  {
    "title": "HARRIS CUTS STAKE IN BELL INDUSTRIES ",
    "body": "Harris Associates L.P., a Chicago\ninvestment advisory limited partnership, said it lowered its\nstake in Bell Industries Inc to 1,015,800 shares, or 18.7 pct\nof the total outstanding, from 1,083,800 shares, or 20.0 pct.\n    In a filing with the Securities and Exchange Commission,\nHarris said it sold 68,000 Bell common shares between Dec 18\nand Feb 20 at prices ranging from 20.25 to 25.24 dlrs each.\n    Harris said its dealings in Bell stock are on behalf of its\nadvisory clients.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:47:16.48",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1291"
  },
  {
    "title": "GOODYEAR  CHAIRMAN CRITICIZES CORPORATE RAIDS",
    "body": "The chairman of Goodyear Tire and Rubber\nCo, a concern that survived a recent hostile takeover bid,\ncharged that \"terrorists in three-piece suits\" are undermining\nthe nation's industrial base.\nIn a speech to a meeting of south Florida business executives,\nGoodyear Chairman Robert Mercer lashed out at corporate raiders\nand takeover specialists, accusing them of causing serious harm\nto the companies they target.\n  \"Their interest is not in preserving and strengthening\nAmerica's industrial and providing jobs,\" he said. \"Their\nproduct is simply deals, and that is not a product which a\ncountry ... can base a future on.\"\n    Last year, Mercer fought off a takeover attempt by British\nindustrialist Sir James Goldsmith.\n    But Goodyear's independence was preserved at a high price,\nMercer said.\n    The company bought back Goldsmith's stock for 620 mln dlrs,\ngiving him a 93 mln dlr profit. Goodyear also paid him 37 mln\ndlrs for expenses and bought about 41 mln other shares for over\ntwo billion dlrs.\n    In an effort to trim its new debt, Goodyear closed down\nthree plants Mercer believes otherwise could have been saved,\nsold its motor wheel and aerospace units and reduced its\npayroll by 10 pct, he said.\n    Mercer, who plans to testify tomorrow at a Senate hearing\non a proposed bill to control corporate raiders, said hostile\ntakeovers have also hurt workers.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:47:32.09",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1292"
  },
  {
    "title": " NINE MTHS DEC 31 NET",
    "body": "Shr six cts vs five cts\n    Net 459,131 vs 289,433\n    Revs 1,808,832 vs 1,680,240\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:47:45.62",
    "topics": [
      "earn"
    ],
    "places": [
      "canada"
    ],
    "id": "1293"
  },
  {
    "title": "CARLING O'KEEFE  TO RETAIN FOOTBALL CLUB",
    "body": "Carling O'Keefe Ltd said the board\ndecided to retain ownership of its Toronto Argonaut Football\nClub, after considering offers to acquire the team.\n    The company said it received a number of expressions of\ninterest in buying the club, of which two became formal offers\nto purchase.\n    Neither offer met the company's unspecified requirements\nfor selling the football club, Carling said.\n    The Toronto Argonauts are a member of the Canadian Football\nLeague.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:48:02.22",
    "places": [
      "canada"
    ],
    "id": "1294"
  },
  {
    "title": "MORE INTERMEDIATE U.S. WHEAT CREDITS FOR MOROCCO",
    "body": "The Commodity Credit Corporation has\napproved an additional 45.0 mln dlrs under its interemdiate\nexport credit guarantee program, GSM-103, for sales of U.S.\nwheat to Morocco, the U.S. Agriculture Department said.\n    The action increases Morocco's cumulative fiscal year 1987\nprogram for wheat under GSM-103 to 75.0 mln dlrs.\n    The credit terms extended for exports under the program\nmust be in excess of three years but no more than seven years\nto eligible for credit coverage. All sales under this line must\nbe registered and exported by September 30, 1987.\n    The department also said the guarantee line for sales of\nU.S. wheat under the Export Credit Guarantee Program, GSM-102,\nhas been decreased 45.0 mln dlrs to 60.0 mln.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:48:14.76",
    "topics": [
      "grain",
      "wheat"
    ],
    "places": [
      "usa",
      "morocco"
    ],
    "id": "1295"
  },
  {
    "title": "EQUITABLE LIFE LEASING NAMES PRESIDENT",
    "body": "Equitable Life Leasing Corp said it\nnamed Lawrence Johnes president and chief operating officer,\neffective April one.\n    Johnes joined the company in November 1984 as executive\nvice president and chief financial officer.\n    Edward Horman will continue as chairman and chief executive\nofficer, the company said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:49:03.82",
    "places": [
      "usa"
    ],
    "id": "1296"
  },
  {
    "title": "ROYAL  SEEKS NAME CHANGE, SHARE BOOST",
    "body": "Royal Resources Inc said it is\ncalling a special shareholder meeting for April 21 seeking\napproval of a name change and an increase in its authorized\ncommon shares.\n    Stockholders will be asked to change the company's name to\nRoyal Gold Inc to better reflect the company's goal to become a\ngold company.  Royal defines a gold company as one having more\nthan 100,000 ounces of gold production a year.\n    In other action, shareholders will be asked to approve an\nincrease in authorized common stock to 20 mln from 15 mln\nshares. The shares are expected to be used for future\nacquisition of gold properties, it said.\n    Previously, Royal said it agreed to sell its oil and gas\nproperties to Victoria Exploration N.L. of Perth, Australia for\n3.65 mln dlrs.  The company's holders also will be asked to\napprove the transaction.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:49:27.22",
    "places": [
      "usa"
    ],
    "id": "1297"
  },
  {
    "title": "MCA INC  SETS REGULAR QTRLY PAYOUT",
    "body": "Qtrly div 17 cts vs 17 cts prior\n    Pay April 13\n    Record March 25\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:50:04.27",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1298"
  },
  {
    "title": "SOVIET GRAINS SEEN ENTERING SPRING ON SHAKY NOTE",
    "body": "Soviet winter grains could be off to\na faulty start this spring after enduring an usually dry fall\nand cold winter, weather and crop analysts said.\n    Prospects for another near-record grain harvest in the\nSoviet Union appear dim at this point, but it is premature to\nforecast any major crop problems, analysts said.\n    But the situation bears careful watching over the next six\nweeks and will ultimately impact the Soviet grain supply and\nfuture buying plans, analysts of the Soviet Union said.\n    \"From a weather standpoint, you can say with certainty that\nthe Soviets are not getting off to a good start and will have a\nlower crop (than last year),\" Gail Martell, chief meteorologist\nfor E.F. Hutton said.\n    The next six weeks in the USSR's grain growing areas will\nbe the crucial period that will determine the final outcome of\nthe winter crops, Martell and other analysts said.\n    \"Where the crop is really made or broken is still ahead of\nus,\" an Agriculture Department authority on the USSR said.\n    The Soviet Union recently reported that nine mln hectares\nof winter grain will have to be reseeded due to winterkill.\nThis would be equal to about 25 pct of the total winter crop\nand would be the second highest winterkill in ten years, the\nUSDA analyst said.\n    With a timely spring, Soviet farmers would probably be able\nto reseed the damaged acreage with spring crops, but analysts\nnoted that spring crops normally yield lower than winter crops\n-- sometimes as much as 30-35 pct lower.\n    Normally winterkill is caused by inadequate snowcover\ncombined with cold temperatures. This winter, however,\nsnowcover in Soviet grain areas has generally been excellent,\nso the bulk of winterkill, analysts speculate, likely has been\ndue to a very dry fall and subsequent poor crop germination.\n    \"Fall dryness may be a problem. There's a good correlation\nbetween mediocre crops and fall dryness,\" Martell said.\n    Precipitation last fall was as little as 25 pct of normal\nin southern and northern Ukraine, and below normal over the\nentire winter crop area, she said.\n    Recent cold temperatures in grain areas in which the\nsnowcover has been gradually melting could also have caused \nproblems of ice-crusting and winterkill, Jim Candor, senior\nforecaster for Accu Weather, said.\n    Livestock feed needs have probably increased because of the\nfall and winter, analysts said. The dry fall damaged pastures,\nthe cold winter raised feed demands and a late spring would\nrequire longer off-pasture feeding, they said.\n    \"The Soviets are not in a desperate situation ... they\ndon't have to buy (grains) now,\" a USDA official said.\n    But if the Soviets are worried about their winter crops and\nif they feel that last year's huge crop of 210 mln tonnes was a\none-time fluke brought on by perfect conditions, more Soviet\nbuying might occur to insure crop supplies, he said.\n    Bad weather during the next six weeks could push the\nSoviets back into the market, weather analysts said.\n    \"A lot of winterkill could occur during the next month and\na half,\" Martell said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:50:23.85",
    "topics": [
      "grain"
    ],
    "places": [
      "ussr",
      "usa"
    ],
    "id": "1299"
  },
  {
    "title": "ALCAN (AL) TO CLOSE WEST GERMAN SMELTER",
    "body": "(Alcan Aluminium Ltd) is closing its\naluminum smelter in Ludwigshafen, West Germany this June due to\nhigh operating costs, an Alcan spokesman said.\n    The smelter, near Frankfurt, had annual capacity of about\n44,000 metric tons but was operating at about half that in\nJanuary, spokesman Fernand Leclerc said.\n    Leclerc said Alcan decided it would cost too much to\nmodernize the plant.\n    He said there is a possibility the company will sell the\nsmelter, which currently employs 320 people, before its\nscheduled closing.             \n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:50:42.06",
    "topics": [
      "alum"
    ],
    "places": [
      "canada",
      "west-germany"
    ],
    "id": "1300"
  },
  {
    "title": "ROYAL RESOURCES CORP  2ND QTR DEC 31 LOSS",
    "body": "Shr loss 72 cts vs loss 1.48 dlrs\n    Net loss 4,466,006 vs loss 9,091,688\n    Revs 608,181 vs 1,280,727\n    Avg shrs 6,194,000 vs 6,155,461\n    First half\n    Shr loss 77 cts vs loss 1.51 dlrs\n    Net loss 4,752,455 vs loss 9,265,457\n    Revs 1,444,149 vs 2,791,188\n    Avg shrs 6,174,731 vs 6,155,461\n    NOTE: Losses include charges of 4.0 mln dlrs in both 1986\nperiods vs 14.4 mln dlrs in both 1985 periods for write-down of\noil and gas properties\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:51:08.97",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1301"
  },
  {
    "title": "MUSTO  NEGOTIATES PRIVATE PLACEMENT",
    "body": "Musto Explorations\nLtd said it negotiated the private placement of up to 300,000\nshares at 1.65 dlrs each.\n    It said the investors would receive non-transferable share\npurchase warrants allowing them to acquire up to another\n300,000 shares at 1.90 dlrs each over one year.\n    The placement is subject to regulatory approval, it said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:52:03.89",
    "places": [
      "usa"
    ],
    "id": "1302"
  },
  {
    "title": "HANSON TRUST  COMPLETES KAISER PURCHASE",
    "body": "Hanson Trust PLC said Kaiser Cement\nshareholders today approved the previously announced merger\nagreement making Kaiser Cement an indirect wholly owned unit of\nHanson Trust.\n    Hanson said that promptly following the filing of the\ncertificate of merger Kaiser Cement common shares will be\ndelisted from the New York Stock Exchange.\n    Hanson also said, in accordance with the merger agreement\nKasier Cement also has redeemed all outstanding shares of its\n1.375 dlr convertible preferance stocks and its outstanding 9\npct convertible debentures due 2005.\n    The acquisitions total purchase price (including cost of\nfinancing the above-mentioned redemptions) will be about 250\nmln dlrs, Hanson said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:53:23.86",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1303"
  },
  {
    "title": "APPLIED MAGNETICS  NAMES OFFICERS",
    "body": "Applied Magnetics Corp said its\nboard named Ben Newitt to the new position of vice chairman and\nas chief executive officer.\n    Newitt, who had been president and chief executive officer,\nis succeeded as president by William Anderson, who had been\nexecutive vice president and chief operating officer.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:54:28.03",
    "places": [
      "usa"
    ],
    "id": "1304"
  },
  {
    "title": "PHONE-A-GRAM  NAMES NEW CHAIRMAN",
    "body": "Phone-A-Gram System Inc said it named\nEugene Mora its Chairman and chief executive officer.\n    Mora succeed Fred Peterson, who resigned.\n    Mora had been president of Victor Temporary Services. He\nhas been a member of Phone-A-Gram's board since 1986.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:56:51.18",
    "places": [
      "usa"
    ],
    "id": "1305"
  },
  {
    "title": "OIL PRICES RISE ON SAUDI EFFORT",
    "body": "Crude oil prices rallied today, moving\nover 17.00 dlrs a barrel because of Saudi Arabia's determined\neffort to support prices, analysts said.\n    \"The Saudis and other OPEC nations are jawboning the market,\nhoping to restore confidence and prices and to do this without\nanother meeting,\" said Sanford Margoshes, oil analyst with\nShearson Lehman Brothers Inc.\n    \"But OPEC is not out of the woods yet by a longshot due to\nseasonal declines in demand and some cheating,\" he added.\n    Oil industry analysts said Saudi Arabia has led the attempt\nto get other OPEC members to resist pressures to discount from\nthe official prices agreed to last december.\n    The analysts said that to get others to hold the line,\nSaudi Arabia pushed hard at the meeting of deputy oil ministers\nof the Gulf Cooperation Council last weekend and at the\nCooperation Council oil ministers' meeting the previous week.\n    The Saudis have also offered to support members having\ndifficulty in selling their oil, analysts said.\n    \"They are trying to make sure that no one discounts, and to\nprevent that, it appears that Saudi Arabia or some other OPEC\nmember will allocate some of their oil sales to help members\nthat lose sales,\" Margoshes said.\n    He added that the allocations would probably be in the form\nof loans to be repaid when these nations resume sales.\n    Analysts said this would be useful in keeping in line\nnations like Qatar, which has had trouble selling oil. But it\nis also likely that such assistance would be provided to\nNigeria which is under pressure to extend discounts.\n    Analysts said that Saudi Arabia, with assistance from OPEC\npresident Rilwanu Lukman, was trying to avoid an emergency OPEC\nmeeting for fear that it would give the appearance that the\nDecember pact is falling apart.\n    Daniel McKinley, oil analyst with Smith Barney, Upham\nHarris and Co said, \"both physical and futures markets have been\noversold and it only took a small spark to bring on a short\ncovering rally.\"\n    He believes an Iranian trade mission to Tokyo, which\nrefused discounts to Japanese buyers, brought Japanese refiners\ninto the market to cover their short positions.\n    Oil traders said one japanese refiner came into the market\nto but 10 cargoes of May Dubai, which sent prices up on Mideast\nsours, with Dubai trading up to 16.50 dlrs after trading\nyeterray as low as 15.63 dlrs and then spilled over into the\nNorth sea crude oil market.\n    Traders said that there have been persistent rumors today\nthat Japanese buyers are looking to pick up cargoes of Brent\nfor Japan and European trade sources indidate rumors of vessels\nbeing fixed to make such shipments.\n    North sea brent today rose over 17.00 dlrs with trades\nreported as high as 17.05 dlrs, up one dlr.\n    OPEC members' denials that they are producing over their\nquotas sparked moves to cover short postitions.\n    Indonesian oil minister Subroto said today that OPEC\nproduction was below the 15.8 mln bpd quota agreed to last\ndecember but he gave no details on OPEC production against\nclaims it was more at least one mln bpd above that level.\n    \"The production probably is about their quota level and\nlargely because Saudi Arabia will not discount and canot sell\nits oil as a result,\" Margoshes said.\n    Analysts have mixed opinions about the extent of the\ncurrent rally. Some believe prices can continue to rise if\nSaudi Arabia and OPEC hold steady in a refusal to discount.\n    But others said that despite the rally today there were\nstill several fundamental factors, including demand, which\ncould cut the rally short.\n    Marion Stewart, an indepedent petroleum economist, said\nslow growth in the economies of the U.S. and OECD would keep\ndemand for oil slack and he now estimates that demand to rise\nabout 1.4 pct over 1986.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 15:57:37.08",
    "topics": [
      "crude"
    ],
    "organisations": [
      "opec",
      "oecd"
    ],
    "places": [
      "usa",
      "saudi-arabia",
      "japan"
    ],
    "id": "1306"
  },
  {
    "title": "U.S. SELLING 13.2 BILLION DLRS OF 3 AND 6-MO BILLS MARCH 9 TO PAY DOWN 2.45 BILLION DLRS\n",
    "date": " 3-MAR-1987 16:01:09.59",
    "places": [
      "usa"
    ],
    "id": "1307"
  },
  {
    "title": "TREASURY BALANCES AT FED ROSE ON FEB 27",
    "body": "Treasury balances at the Federal\nReserve rose on Feb 27 to 3.482 billion dlrs from 1.538 billion\ndlrs the previous business day, the Treasury said in its latest\nbudget statement.\n    Balances in tax and loan note accounts fell to 21.334\nbillion dlrs from 25.164 billion dlrs on the same respective\ndays.\n    The Treasury's operating cash balance totaled 24.816\nbillion dlrs on Feb 27 compared with 26.702 billion dlrs on Feb\n26.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:03:42.64",
    "topics": [
      "money-supply"
    ],
    "places": [
      "usa"
    ],
    "id": "1308"
  },
  {
    "title": "U.S. TO SELL 13.2 BILLION DLRS IN BILLS",
    "body": "The U.S. Treasury said it will sell\n13.2 billion dlrs of three and six-month bills at its regular\nauction next week.\n    The March 9 sale, to be evenly divided between the three\nand six month issues, will result in a paydown of 2.45 billion\ndlrs as maturing bills total 15.65 billion dlrs.\n    The bills will be issued March 12.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:04:28.56",
    "places": [
      "usa"
    ],
    "id": "1309"
  },
  {
    "title": "NYNEX  UNIT WINS ARMY CONTRACT",
    "body": "Nynex Business Information\nSystems Co said it won a contract valued at nine mln dlrs from\nthe U.S. Army Corp of Engineers to provide an advanced\ncommunications system for a facility in upstate New York.\n    The company, a unit of Nynex Corp, said the contract was\nfor initial work on the project at the new Fort Drum Light\nInfantry Post near Watertown, about 65 miles north of Syracuse.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:04:59.85",
    "places": [
      "usa"
    ],
    "id": "1310"
  },
  {
    "title": "KASLER CORP  1ST QTR JAN 31 NET",
    "body": "Shr profit three cts vs loss seven cts\n    Net profit 161,000 vs loss 367,000\n    Revs 24.3 mln vs 26.5 mln\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:05:12.71",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1311"
  },
  {
    "title": "COFFEE MAY FALL MORE BEFORE NEW QUOTA TALKS",
    "body": "Coffee prices may have to fall even lower\nto bring exporting and importing countries once more round the\nnegotiating table to discuss export quotas, ICO delegates and\ntraders said.\n    The failure last night of International Coffee\nOrganization, ICO, producing and consuming countries to agree\nexport quotas brought a sharp fall on international coffee\nfutures markets today with the London May price reaching a\n4-1/2 year low at one stage of 1,270 stg per tonne before\nending the day at 1,314 stg, down 184 stg from the previous\nclose.\n    The New York May price was down 15.59 at 108.00 cents a lb.\n    Pressure will now build up on producers returning from the\nICO talks to sell coffee which had been held back in the hope\nthe negotiations would establish quotas which would put a floor\nunder prices, some senior traders said.\n    The ICO 15 day average price stood at 114.66 cents a lb for\nMarch 2. This compares with a target range of 120 to 140 cents\na lb under the system operating before quotas were suspended in\nFebruary last year following a sharp rise in international\nprices caused by drought damage to the Brazilian crop.\n    In a Reuter interview, Brazilian Coffee Institute, IBC,\nPresident Jorio Dauster urged producers not to panic and said\nthey need to make hard commercial decisions. \"If we have failed\nat the ICO, at least we have tried,\" Dauster said, adding \"now it\nis time to go and sell coffee.\"\n    But Brazil is keeping its marketing options open. It plans\nto make an official estimate of the forthcoming crop next\nmonth, Dauster said. It is too difficult to forecast now. Trade\nsources have put the crop at over 26 mln bags compared with a\nprevious crop of 11.2 mln. Brazil is defining details of public\nselling tenders for coffee bought on London's futures market\nlast year.\n    A basic condition will be that it does not go back to the\nmarket \"in one go\" but is sold over a minimum of six months.\n    The breakdown of the ICO negotiations reflected a split\nbetween producers and consumers on how to set the yardstick for\nfuture quotas. Consumers said \"objective criteria\" like average\nexports and stocks should determine producer quota shares,\nDauster said.\n    All elements of this proposal were open to negotiation but\nconsumers insisted they did not want a return to the \"ad hoc\" way\nof settling export quotas by virtual horse trading amongst\nproducers whilst consumers waited in the corridors of the ICO.\n    Dauster said stocks and exports to ICO members and\nnon-members all need to be considered when setting quotas and\nthat Brazil would like to apply the coffee pact with a set\nratio of overall quota reflecting stock holdings.\n    It is a \"simplistic misconception that Brazil can dictate\"\npolicy to other producers. While consumer countries are welcome\nto participate they cannot dictate quotas which are very\ndifficult to allocate as different \"objective criteria\" achieve\ndifferent share-outs of quota, Dauster said.\n    Other delegates said there was more open talking at the ICO\nand at least differences were not hidden by a bad compromise.\n    Consumer delegates said they had not been prepared to\naccept the producers' offer to abandon quotas if it proves\nimpossible to find an acceptable basis for them.\n    \"We want the basis of quotas to reflect availability and to\nencourage stock holding as an alternative to a buffer stock if\nsupplies are needed at a later stage,\" one delegate said.\n    Some consumers claimed producer support for the consumer\nargument was gaining momentum towards the end of the ICO\nsession but said it is uncertain whether this will now collapse\nand how much producers will sink their differences should\nprices fall further and remain depressed.\n    The ICO executive board meets here March 30 to April 1 but\nboth producer and consumer delegates said they doubt if real\nnegotiations will begin then. The board is due to meet in\nIndonesia in June with a full council scheduled for September.\n    More cynical traders said the pressure of market forces and\npolitics in debt heavy Latin American producer countries could\nbring ICO members back around the negotiating table sooner than\nmany imagine. In that case quotas could come into force during\nthe summer. But most delegates and traders said quotas before\nOctober are unlikely, while Brazil's Dauster noted the ICO has\ncontinued although there were no quotas from 1972 to 1980.\n    A clear difference between the pressures already being felt\nby importers and exporters was that consumers would have been\nhappy to agree on a formula for future quotas even if it could\nnot be imposed now. At least in that way they said they could\nshow a direct relationship between quotas and availability.\n    In contrast producers wanted stop-gap quotas to plug the\nseemingly bottomless market and were prepared to allow these to\nlapse should lasting agreement not be found.\n    \"Producers were offering us jam tomorrow but after their\nfailure to discuss them last year promises were insufficient\nand we wanted a cast iron commitment now,\" one consumer said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:05:22.24",
    "topics": [
      "coffee"
    ],
    "organisations": [
      "ico-coffee"
    ],
    "places": [
      "uk",
      "brazil"
    ],
    "id": "1312"
  },
  {
    "title": "SEAMAN FURNITURE  IN STOCK SPLIT",
    "body": "Seaman Furniture Co Inc said\nits board declared a two-for-one split of the company's\noutstanding stock.\n    It said holders of its common will receive one additional\nshare for each share held as of March 20. It said certificates\nrepresenting additional shares will be distributed as soon as\npossible after April 10.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:05:38.59",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1313"
  },
  {
    "title": " 3RD QTR JAN 31 NET",
    "body": "Oper shr eight cts vs eight cts\n    Oper net 5,219,000 vs 4,377,000\n    Revs 214.9 mln vs 182.5 mln\n    NINE MTHS\n    Oper shr 51 cts vs 51 cts\n    Oper net 29.6 mln vs 27.9 mln\n    Revs 634.5 mln vs 569.3 mln\n    1986 net excludes extraordinary gain of 8,031,000 dlrs or\n15 cts shr.\n    1987 net reflects three-for-one stock split in 2nd qtr and\nissue of 1.5 mln subordinate voting shares in 1st qtr.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:06:02.92",
    "topics": [
      "earn"
    ],
    "places": [
      "canada"
    ],
    "id": "1314"
  },
  {
    "title": "TELXON CORP  SEES HIGHER REVENUES",
    "body": "Telxon Corp reported it expects\nrevenues for the quarter ending March 31 to be between 26 to 28\nmln dlrs.\n    The company said earnings per share for the period should\nbe between 23 cts to 26 cts.\n    \"The company is making an announcement at this time in\nresponse to analysts fourth quarter revenues and earnings per\nshare estimates of 29 mln to 32 mln and 24 cts to 30 cts,\nrespecivtely,\" said Raymond Meyo, president and chief executive\nofficer.\n    Telxon recorded revenues of 24.2 mln dlrs for the quarter\nlast year, and earnings per share of 22 cts, adjusted for a\nthree-for-two stock split in May 1986.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:06:59.86",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1315"
  },
  {
    "title": "ROYAL RESOURCES  SETS VOTE ON SALE",
    "body": "Royal Resources Corp said its board set\nan April 21 a shareholders' meeting to vote on the sale of its\noil and gas properties for 3,650,000 dlrs, an increase in\nauthorized common to 20 mln shares from 15 mln and the change\nof the company's name to Royal Gold Inc.\n    The company has agreed to sell its oil and gas properties\nto  of Perth, Western Australia.\n    Royal Resources also said the sale of its interest in two\ngold properties -- the Colosseum Mine in San Bernardino County,\nCalif., and the Camp Bird mine near Ouray, Colo. -- was closed\non February 27. The company said it received 4.4 mln dlrs and\ncancellation of the remaining balance due on the acquisition of\nthe interest, adding this represents 2.5 mln dlrs more than it\npaid for the interest.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:07:20.77",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1316"
  },
  {
    "title": "AMERICAN VANGUARD CORP  YEAR NET",
    "body": "Shr 57 cts vs 27 cts\n    Net 1,002,000 vs 470,000\n    Sales 15.9 mln vs 12.0 mln\n    Note: 4th qtr figures not given.\n   \n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:08:03.13",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1317"
  },
  {
    "title": "CANADA INTRODUCES NEW BANKING LEGISLATION",
    "body": "Legislation to implement the first stage\nof a promised sweeping new regulatory framework for the\nCanadian banking system was presented in the House of Commons,\nthe finance department said.\n    The department said the main measures in the bill include\nthe previously announced consolidation of federal supervisory\nagencies into the new Office of the Superintendent of Financial\nInstitutions and a strengthening of the Canada Deposit\nInsurance Act.\n    The department said further legislation, first outlined in\nthe December policy statement will be introduced later this\nyear and will include broadening of the powers of financial\ninstitutions and the new ownership policies.                \n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:10:29.79",
    "places": [
      "canada"
    ],
    "id": "1318"
  },
  {
    "title": "ATT  SETS HEARING IMPAIRED SERVICE",
    "body": "American Telephone and\nTelegraph Co said it will offer a special team of\nrepresentatives to help hearing-impaired persons use\ntelecommunications services.\n    The team will work through the company's National Special\nNeeds Center, which offers various products that enable\nhearing-, motion-, speech- and vision-impaired persons to use\ntelecommunications devices such as a keyboard to talk and paper\nor video printouts to listen.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:10:48.85",
    "places": [
      "usa"
    ],
    "id": "1319"
  },
  {
    "title": "HARPER INTERNATIONAL INC  3RD QTR JAN 31",
    "body": "Shr 12 cts vs 19 cts\n    Net 369,000 vs 358,000\n    Revs 7,076,000 vs 6,712,000\n    Avg shrs 3,050,000 vs 1,850,000\n    Nine mths\n    Shr 53 cts vs 63 cts\n    Net 1,523,000 vs 1,158,000\n    Revs 22.6 mln vs 20.7 mln\n    Avg shrs 2,852,198 vs 1,850,000\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:11:09.23",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1320"
  },
  {
    "title": "HOME INTENSIVE CARE  EXTENDS CONVERSION",
    "body": "Home Intensive Care Inc said it extended\nuntil March 15 the period during which holders of its callable\ncumulative convertible preferred stock may convert each of\ntheir shares into 2.2 shares of the company's common stock.\n    After that date, the preferred may be converted into two\nshares of common, the company said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:13:23.92",
    "places": [
      "usa"
    ],
    "id": "1321"
  },
  {
    "title": "WITCO CORP  SETS REGULAR QTLY PAYOUT",
    "body": "Qtly div 28 cts vs 28 cts prior\n    Pay April one\n    Record March 13\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:13:33.31",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1322"
  },
  {
    "title": "REIDEL  UNIT SELECTED FOR EPA CONTRACT",
    "body": "Reidel Environmental Technologies\nInc said its Reidel Envirnomental Services Inc unit won a\ncontract with the Environmental Protection Agency that could\ntotal over 100 mln dlrs over the next four years.\n    Under the agreement, which began March 1, Reidel will act\nas the prime contractor for the cleanup and removal of\nhazardous substances from contaminated sites in the EPA's Zone\nIV, which encompasses 23 states west of the Mississippi.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:17:52.27",
    "places": [
      "usa"
    ],
    "id": "1323"
  },
  {
    "title": "PANCANADIAN TO SELL NORTH SEA PROPERTIES, UNIT TO WHITEHALL FOR CASH\n",
    "date": " 3-MAR-1987 16:20:43.91",
    "topics": [
      "crude"
    ],
    "id": "1324"
  },
  {
    "title": "WEEKLY ELECTRIC OUTPUT UP 2.4 PCT FROM 1986",
    "body": "U.S. power companies generated a net\n50.08 billion kilowatt-hours of electrical energy in the week\nended Feb 28, up 2.4 pct from 48.91 billion a year earlier, the\nEdison Electric Institute (EEI) said.\n    In its weekly report on electric output, the electric\nutility trade association said electric output in the week\nended Feb 21 was 51.10 billion kilowatt-hours.\n    The EEI said power production in the 52 weeks ended Feb 28\nwas 2,554.41 billion kilowatt hours, up 2.2 pct from the\nyear-ago period.\n    Electric output so far this year was 458.51 billion\nkilowatt hours, up 2.2 pct from 448.79 billion last year, the\nEEI said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:21:17.90",
    "places": [
      "usa"
    ],
    "id": "1325"
  },
  {
    "title": " IN QTLY PAYOUT",
    "body": "Qtly div six cts vs six cts prior\n    Pay April one\n    Record March 23\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:21:45.94",
    "topics": [
      "earn"
    ],
    "places": [
      "canada"
    ],
    "id": "1326"
  },
  {
    "title": "HARPER INTERNATIONAL INC  3RD QTR NET",
    "body": "Qtr ended Jan 31\n    Shr 12 cts vs 19 cts\n    Net 369,000 vs 358,000\n    Revs 7,076,000 vs 6,712,000\n    Avg shrs 3,050,000 vs 1,850,000\n    Nine mths\n    Shr 53 cts vs 63 cts\n    Net 1,523,000 vs 1,158,000\n    Revs 22.6 mln vs 20.7 mln\n    Avg shrs 2,852,198 vs 1,850,000\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:22:26.49",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1327"
  },
  {
    "title": "BURST AGRITECH INC  YEAR NOV 30 LOSS",
    "body": "Net loss 705,496 vs loss 182,766\n    Sales 642,590 vs 1,126,315\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:26:58.41",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1328"
  },
  {
    "title": "RIEDEL ENVIRONMENT  UNIT GETS EPA CONTRACT",
    "body": "Riedel Environment Technologies\nInc's subsidiary Riedel Environmental Services Inc \nreceived a contract to clean up and remove hazardous substances\nfrom contaminated sites in 23 states west of the Mississippi\nRiver.\n    The contract, which could total more than 100 mln dlrs over\nthe next four years, is with the Federal Environmental\nProtection Agency, the company said.\n    Among the states covered in the contract are Alaska and\nHawaii, as well as the Pacific Trust Territories, Riedel said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:29:42.22",
    "places": [
      "usa"
    ],
    "id": "1329"
  },
  {
    "title": "CANNON GROUP  DECLINES COMMENT ON STOCK",
    "body": "The New York Stock Exchange said Cannon\nGroup Inc declined to comment on the unusual activity in its\ncommon stock.\n    Cannon's stock is up 1-3/8 points at 10-1/8.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:30:51.15",
    "places": [
      "usa"
    ],
    "id": "1330"
  },
  {
    "title": "API SAYS DISTILLATE STOCKS OFF 4.4 MLN BBLS, GASOLINE OFF 30,000, CRUDE UP 700,000\n",
    "date": " 3-MAR-1987 16:31:14.73",
    "topics": [
      "crude"
    ],
    "id": "1331"
  },
  {
    "title": "ALCAN TO CLOSE WEST GERMAN SMELTER",
    "body": "Alcan Aluminium Ltd is closing its\naluminum smelter in Ludwigshafen, West Germany this June due to\nhigh operating costs, an Alcan spokesman said.\n    The smelter, near Frankfurt, had annual capacity of about\n44,000 tonnes but was operating at about half that in January,\nspokesman Fernand Leclerc said.\n    Leclerc said Alcan decided it would cost too much to\nmodernize the plant.\n    He said there is a possibility the company will sell the\nsmelter, which currently employs 320 people, before its\nscheduled closing.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:33:09.60",
    "topics": [
      "alum"
    ],
    "places": [
      "canada",
      "west-germany"
    ],
    "id": "1332"
  },
  {
    "title": "WRITERS GUILD TO MEET WITH NETWORKS THURSDAY",
    "body": "The Writers Guild of America said it\nagreed to meet with representatives of CBS Inc  and\nCapital Cities/ABC Inc  at the offices of the Federal\nMediation Service at 1000 EST Thursday.\n    \"The guild is pleased that the networks have returned to\nthe table,\" a spokesman said. The talks would be the first\nsince the guild struck radio and television networks and some\nlocal broadcast operations of the two companies at 0600 EDT\nMarch two.\n    A contract covering more than 500 writers, editors and\nother personnel expired early March two.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:34:07.14",
    "places": [
      "usa"
    ],
    "id": "1333"
  },
  {
    "title": "COCA-COLA BOTTLING  NAMES NEW PRESIDENT",
    "body": "Coca-Cola Bottling Co\nConsolidated said James Moore Jr. will assume the position of\npresident and chief executive office, replacing Marvin W.\nGriffin Jr., who resigned effective today.\n    The company said Moore previously served as president of\n.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:35:01.08",
    "places": [
      "usa"
    ],
    "id": "1334"
  },
  {
    "title": "PANCANADIAN TO SELL BRITISH INTERESTS",
    "body": "\nsaid it agreed to sell its working interest in its North Sea\nproperties and its British unit, Canadian Pacific Oil and Gas\nof Canada Ltd, to Whitehall Petroleum Ltd, a private British\ncompany.\n    PanCanadian, 87 pct-owned by Canadian Pacific Ltd ,\nsaid it would receive 1.7 mln British pounds cash (3.5 mln\nCanadian dlrs) at closing, expected in two to three months.\n    It said the deal is subject to approval by regulators and\nits partners in the properties, which consist of exploration\nwells. It will also retain a royalty interest in the\nproperties.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:35:36.70",
    "topics": [
      "crude"
    ],
    "places": [
      "canada",
      "uk"
    ],
    "id": "1335"
  },
  {
    "title": "ALLEGHENY INT'L  TO CLOSE THREE PLANTS",
    "body": "Allegheny International Inc said it\nplans to close three appliance manufacturing plants as part of\na restructuring.\n    The company said it will close its Milwaukee plant by\nOctober 1, idling 350 employees, and its Dayton, Tenn.,\nfacility, with about 300 employees, by March 1, 1988.\n    In addition, a plant in Toronto will phase out production\nof small electric appliances over the next eight month's,\naffecting about 195 of the facility's 425 employees.\n    Production of barbecue grills and lawn mowers is also under\nreview at the Toronto plant, operated by the company's Sunbeam\nCorp (Canada) unit. The plant will continue selling appliances\nin Canada.\n    The company's Oster division makes blenders and other\nappliances at the Milwaukee and Dayton plants. Oster\nheadquarters will stay in Milwaukee and manufacturing of\nproducts will be consolidated at other facilities in\nMcMinnville and Cookville, both in Tennessee.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:37:10.27",
    "places": [
      "usa",
      "canada"
    ],
    "id": "1336"
  },
  {
    "title": "CONGRESS PASSES APPLIANCE STANDARD BILL",
    "body": "Congress passed and sent to President\nReagan a bill that sets energy efficiency standards for major\nhousehold appliances such as refrigerators, air conditioners,\nwashers and dryers and furnances.\n    Final action came on a voice vote in the House. The Senate\nhad passed the bill, 89-6, on February 17.\n    Reagan vetoed a similar bill last year after Congress had\nadjourned, but has indicated he will sign this measure.\n    The standards will take effect over the next six years and\nappliance manufacturers will then have five years to redesign\ntheir appliances to meet the standards.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:39:14.98",
    "places": [
      "usa"
    ],
    "id": "1337"
  },
  {
    "title": "PIEDMONT AIR  FEBRUARY LOAD FACTOR RISES",
    "body": "Piedmont Aviation Inc's\nPiedmont Airlines said its February load factor, or percentage\nof seats filled, rose to 55.5 pct, from 52.6 pct for the same\nmonth last year.\n    The airline said revenue passenger miles for the month were\nup 20.1 pct, to 780 mln, from 649.3 mln. A revenue passenger\nmile is one paying passenger flown one mile.\n    Piedmont said its capacity increased 13.8 pct, to 1.40\nbillion available seat miles, from 1.23 billion.\n    Year to date, Piedmont said its load factor was 54.1 pct vs\n51.6 pct last year.\n    It said revenue passenger miles totaled 1.57 billion vs\n1.34 billion and capacity was 2.90 billion available seat miles\nvs 2.61 billion.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:41:33.75",
    "places": [
      "usa"
    ],
    "id": "1338"
  },
  {
    "title": "TELXON  SEES SLIGHTLY HIGHER 4TH QTR NET",
    "body": "Telxon Corp said it expects\nper-share earnings for its fourth quarter ending March 31 to be\nabout 23 cts to 26 cts on revenues of 26 mln dlrs to 28 mln\ndlrs.\n    For the year-ago quarter, the company earned 22 cts a\nshare, adjusted for a three-for-two stock split, on revenues of\n24.2 mln dlrs.\n    The company said it made the earnings estimate in response\nto analysts' forecasts, which it said called for per-share\nearnings of 24 cts to 30 cts and revenues of 29 mln dlrs to 32\nmln dlrs.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:41:44.21",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1339"
  },
  {
    "title": "REID-ASHMAN  TO DIVEST TEST PRODUCT UNIT",
    "body": "Reid-Ashman Inc said it has\ndecided to divest its test products division, located in Santa\nClara.\n    The company said it will entertain offers through March 30.\nIt also said Steven Reid, a company founder and president of\nthe test division, has made an offer to purchase the unit.\n    The company's test division accounted for about ten pct of\ntotal revenues in the year ended Sept 30, 1986 and is currently\nrunning a revenue rate of under two mln dlrs per year, it said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:42:02.19",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1340"
  },
  {
    "title": "PACIFIC LIGHTING COPR  QUARTERLY DIVIDEND",
    "body": "Qtly div 87 cts vs 87 cts\n    Pay Feb 17\n    Record Jan 20\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:43:45.30",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1341"
  },
  {
    "title": "CETEC CORP  QUARTERLY DIVIDEND",
    "body": "Qtly div five cts vs five cts\n    Pay May 22\n    Record May 8\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:43:52.96",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1342"
  },
  {
    "title": "API SAYS DISTILLATE, GAS STOCKS OFF IN WEEK",
    "body": "Distillate fuel stocks held in\nprimary storage fell by 4.4 mln barrels in the week ended Feb\n27 to 127.10 mln barrels from 131.50 mln the previous week, the\nAmerican Petroleum Institute (API) said.\n    In its weekly statistical bulletin, the oil industry trade\ngroup said gasoline stocks fell 30,000 barrels to 252.92 mln\nbarrels from a revised 252.95 mln, while crude oil stocks rose\n700,000 barrels to 329.38 mln from a revised 328.68 mln.\n    It said residual fuel stocks fell 380,000 barrels to 38.04\nmln from 38.42 mln barrels.\n    API said refinery runs in the week fell to 12.17 mln\nbarrels per day from a revised 12.42 mln and refinery use of\noperating capacity was 78.1 pct, off from a revised 79.7 pct.\n    Crude oil imports in the week fell to 3.98 mln bpd from a\nrevised 4.22 mln, API added.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:45:20.80",
    "topics": [
      "crude"
    ],
    "places": [
      "usa"
    ],
    "id": "1343"
  },
  {
    "title": "JONES MEDICAL INDUSTRIES INC  4TH QTR NET",
    "body": "Shr six cts vs five cts\n    Net 199,037 vs 135,587\n    Sales 1,594,895 vs 1,368,959\n    Avg shrs 3.1 mln vs 2.5 mln\n    Year\n    Shr 25 cts vs 19 cts\n    Net 695,398 vs 446,426\n    Sales 5,785,365 vs 4,520,781\n    Avg shrs 2.8 mln vs 2.4 mln\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:48:40.40",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1344"
  },
  {
    "title": "MAUI LAND AND PINAPPLE CO INC QUARTERLY DIVIDEND",
    "body": "Qtly div 12-1/2 cts vs 12-1/2 cts\n    Pay March 31\n    Record Feb 27\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:49:45.00",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1345"
  },
  {
    "title": "GM TO REPUCHASE UP TO 20 PCT OF 1.66 DLR PAR VALUE COMMON BY END OF 1990\n",
    "date": " 3-MAR-1987 16:50:56.35",
    "id": "1346"
  },
  {
    "title": "U.S. WINE EXPORTS ROSE 15 PER CENT LAST YEAR",
    "body": "Exports of American wine rose 14.9\nper cent last year to a total of 7.2 million gallons, the Wine\nInstitute said.\n    The San Francisco-based promotional group said 95 per cent\nof the exported wine was from California and the top three\nmarkets were Canada, Japan and Britain.\n    Japan, which edged out Britain as the leading importer of\nAmerican wines in 1985, continued in second place.\n    Canadian imports rose 3.2 per cent to 2.6 million gallons;\nJapan, 9.9 per cent to 1.2 million gallons, and Britain, 20.2\nper cent to 962,360 gallons.\n    A spokesman for the institute said the declining value of\nthe dollar and strong promotional efforts on the part of the\nCalifornia wine industry contributed significantly to the\nincreased shipments.\n    The 1986 wine exports were valued at 34.7 mln dlrs, up from\n27.6 mln dlrs the previous year.              \n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:53:18.61",
    "topics": [
      "trade"
    ],
    "places": [
      "usa",
      "japan",
      "uk",
      "canada"
    ],
    "id": "1347"
  },
  {
    "title": "U.S. TREASURY OFFICIAL SEES LATIN DEBT PROGRESS",
    "body": "Assistant U.S. Treasury Secretary\nDavid Mulford said rapid progress was being made in talks with\ncommercial banks for loans to Argentina, the Philippines and\nBrazil.\n    \"This should result in substantial new lending for the\nmajor debtors in 1987,\" he said in prepared testimony for the\nSubcommittee on International Development Institutions of the\nU.S. House of Representatives.\n    Until recently, commercial banks were slow to conclude new\nfinancing packages pending completion of a Mexican package,\nMulford said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:53:31.66",
    "places": [
      "usa"
    ],
    "id": "1348"
  },
  {
    "title": "NEW CANADA ISSUE ALMOST SOLD OUT AT CLOSE",
    "body": "Canada's 1.20 billion dlr bond offer was\nvirtually sold out as bond prices closed weaker in moderate\ntrading, dealers said.\n    Sales of today's issue were slowed by the decline in\nAmerican credit markets and rising oil prices, which stirred\nconcerns about inflation, the traders said. The issue was\nselling at or just below issue price.\n    Overall prices fell as much as a point, with the benchmark\nCanada 9-1/2 pct of 2001 at 106-3/8 5/8, the 8-1/4 pct of 1997\nat 99 99-1/4 and the 8-1/2 pct of 2011 at 98-1/8 3/8.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:53:51.57",
    "places": [
      "canada"
    ],
    "id": "1349"
  },
  {
    "title": "USDA TO REDUCE CITRUS ESTIMATING PROGRAM",
    "body": "the U.S. Agriculture Department's\nNational Agricultural Statistics Services (NASS) said it will\nchange its citrus estimate program for California and Arizona,\nstarting in 1988.\n    NASS said it will discontinue California forecasts for\nlemons during December, February, March, May and June and for\ngrapefruit and tangerines for those months plus November.\n    Forecasts for lemons will be issued in October, November,\nJanuary, April and July and for grapefruit in October, January,\nApril, and July and for tangerines in October,  January and\nApril. There will be no change in the estimating program for\nCalifornia oranges.\n    Arizona forecasts will be dropped for lemons, oranges,\ngrapefruit and tangerines in November, December February,\nMarch, May and June, with forecasts retained in October,\nJanuary, April and July, it said.\n    There will be no changes in the estimating program for\ncitrus in Texas or Florida.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:55:02.51",
    "topics": [
      "orange"
    ],
    "places": [
      "usa"
    ],
    "id": "1350"
  },
  {
    "title": " YEAR NET",
    "body": "Shr nine cts vs six cts\n    Net 3,500,000 vs 2,500,000\n    Revs 294.0 mln vs 351.5 mln\n    Note: 1986 year includes tax gain of 1,700,000 dlrs\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:58:41.18",
    "topics": [
      "earn"
    ],
    "places": [
      "canada"
    ],
    "id": "1351"
  },
  {
    "title": "ARVIN INDUSTRIES  OFFERS SECURITIES",
    "body": "Arvin Industries Inc said it will\noffer 150 mln dlrs of debt securities.\n    The company will offer 75 mln dlrs of 8-3/8 pct notes due\nMarch 1, 1997 and 75 mln dlrs of 9-1/8 pct sinking fund\ndebentures due March 1, 2017, as part of an existing 200 mln\ndlr shelf registration.\n    The notes were priced at 99.63 pct to yield 8.43 pct. The\ndebentures were priced at 99.54 pct to yield 9.17 pct.\n    Both issues will be offered through underwriting groups led\nby Merrill Lynch Capital Markets and Salomon Brothers Inc. The\ntwo issues are separate and independent.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 16:58:51.90",
    "places": [
      "usa"
    ],
    "id": "1352"
  },
  {
    "title": "GM  TO REPUCHASE COMMON STOCK",
    "body": "General Motors Corp said its directors\nauthorized the repurchase of up to 20 pct of its 1.66 dlr par\nvalue common stock by the end of 1990.\n    GM said the level of repurchases this year will not exceed\n10 mln shares or about three pct of its outstanding stock.\n    It said the stock repurchase, as market conditions permit,\nwill be funded from a portion of the cash flows generated by\nreduced capital spending and anticipated performance\nimprovements.\n    GM also said its board authorized the repurchase of as many\nas five mln shares each of its class E and class H common, with\nabout half of the proposed repurchases completed by year end.\n    GM also said it is considering offering an odd-lot\nrepurchase program for its class H stock by mid-year.\n    GM said the class E and H repurchases would increase\nparticipation in the net income of its Electronic Data Systems\nCorp  and Hughes Electronic Corp  subsidiaries by\nholders of its 1.66 dlr par value common.\n    GM also said it anticipates a decrease in automotive\ncapital spending, excluding EDS and Hughes Aircraft Co, to 7.9\nbillion dlrs in 1987 and 5.8 billion dlrs in 1989, from 10.6\nbillion dlrs in 1986.\n    It also said improvements in operating performance are\nexpected to amount to 10 billion dlrs annually by 1990.\n    \"We have one overriding objective--to position GM so that\nit is producing the best products available in an increasingly\ncompetitive global marketplace,\" said Chairman Roger B. Smith.\n    GM had 319.4 mln shares of its 1.66 dlr par value common\noutstanding, 53.5 mln shares of class E and 66.6 mln shares of\nclass H outstanding at year end 1986.\n    GM said that its par value holders currently participate in\nthe 56 pct of the earnings of EDS and 67 pct of Hughes'\nearnings.\n    GM also said it will continue to repurchase shares of all\nthree classes of its common in connection with ongoing\nrequirements of various benefit plans.\n    That buyback, it said, will involve about nine mln shares\nof 1.66 dlr par value common and 2.5 mln shares each of class E\nand H common in 1987.\n    GM said the repuchased shares of its par value common will\nbe held in its treasury indefinitely for possible future\nbusiness use.\n   \n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:00:10.20",
    "places": [
      "usa"
    ],
    "id": "1353"
  },
  {
    "title": "OPPENHEIMER UPS VIACOM  STAKE TO 7.7 PCT",
    "body": "Oppenheimer and Co, a New York\nbrokerage firm, said it raised its stake in Viacom\nInternational Inc to the equivalent of 2,709,600 shares, or 7.7\npct of the total, from 2,232,400 shares, or 6.3 pct.\n    In a filing with the Securities and Exchange Commission,\nOppenheimer said it bought a net 477,200 Viacom common shares\nbetween Jan 19 and March 3 at prices ranging from 40.50 to an\naverage of 49.31 dlrs each. Part of its stake is in options.\n    It said it bought the shares as part of its arbitrage and\ninvestment business. Movie theater magnate Sumner Redstone and\na Viacom management group are in a bidding war for Viacom.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:00:38.71",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1354"
  },
  {
    "title": "EMPI INC  4TH QTR LOSS",
    "body": "Shr loss 25 cts vs profit 11 cts\n    Net loss 446,005 vs profit 185,325\n    Sales 2.4 mln vs 2.5 mln\n    12 mths\n    Shr loss 16 cts vs profit 41 cts\n    Net loss 282,305 vs profit 709,787\n    Sales 10.1 mln vs nine mln\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:00:43.73",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1355"
  },
  {
    "title": "U.S. SENATE PANEL COULD CONSIDER TRADE MEASURE",
    "body": "The U.S. Senate Agriculture Committee\nmay take up a bill tomorrow that would strengthen the\nactivities of U.S. agricultural trade teams in selected\ndeveloping countries, committee staff said.\n    The measure, sponsored by committee Chairman Patrick Leahy\n(D-Vt.) and Sen. John Melcher (D-Mont.), would establish trade\nteams of between six and nine persons drawn from federal\nagencies and private voluntary organizations, staff said.\n    The trade missions would seek to generate interest in the\nU.S. government's food donation and commercial programs --\nPL480, Section 416, export credit and export enhancement -- and\nupon return be required to advocate extension of concessional\nor commercial benefits to interested countries.\n    The trade teams would be made up of representatives of the\nU.S. Agriculture Department, State Department, the Agency for\nInternational Development and private voluntary organizations\nsuch as U.S. Wheat Associates.\n    The bill would require teams within six months to visit\nseven countries: Mexico, Philippines, Indonesia, India,\nBangladesh, Senegal and Nigeria.\n    Within one year after passage of the measure, another eight\ncountries would have to be visited: Peru, Kenya, the Dominican\nRepublic, Costa Rica, Malaysia, Venezuela, Tunisia and Morocco.\nOther countries could be added to the list.\n    Senate staff members said the bill, still in the drafting\nstages, had broad support and was expected to be approved by\nthe committee tomorrow.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:04:13.44",
    "topics": [
      "trade"
    ],
    "places": [
      "usa"
    ],
    "id": "1356"
  },
  {
    "title": "U.S. OFFICIALS SAY BRAZIL SHOULD DEAL WITH BANKS",
    "body": "The U.S. is sticking for the moment\nto its policy that Brazil, which two weeks ago suspended debt\npayments to private banks, should deal with its creditors and\nnot with governments, U.S. officials said.\n    \"I don't see any desire here to scurry around and help\nBrazil until we get a better sense of what they are trying to\ndo,\" a senior administration official stated.\n    \"Brazil has to do business through the banks at this point,\"\nsaid another official following an assessment of that country's\nlatest debt crisis.\n    The official, who asked that his name not be used, said the\nNational Security Council, the Treasury and State departments\nand other agencies held a meeting yesterday to discuss the\nsituation.\n    In a related development, small regional banks that have\nmade loans to Brazil and other heavily-indebted Latin American\ncountries, will meet with Federal Reserve Chairman Paul Volcker\nhere tomorrow.\n    Brazil, with about 108 billion dlrs in debt, shocked banks\nlate last month when it stopped interest payments on 68 billion\ndlrs owed to them until it can work out its problems.\n    Brazil's trade surplus, its main source of foreign exchange\nhas dwindled in recent months, making it difficult to service\nits debt.\n    The official said the interagency meeting was called to\ndiscuss \"the general debt situation and compare notes on\n(Brazilian Finance Minister Dilson) Funaro.\"\n    Funaro, who told reporters here that he wanted a political\ndiscussion with industrialized nations on Brazil's debt\nproblems in an effort to obtain more and faster lending from\nofficial sources, held discussions here on Friday with Volcker,\nTreasury Secretary James Baker and other officials.\n    Another senior administration official said he was\nperplexed by Funaro's decision to discuss the latest crisis\nwith governments and not with creditor banks, at a time when\nBrazil is in danger of losing short-term credit lines.\n    \"We are not clear at all on his tactics. To me it seems\nbizarre, just bizarre,\" the official said.\n    One official today described Funaro's argument as \"nonsense,\"\nand said there had been a considerable flow of funds to Brazil,\nfor which that country was in arrears.\n    Funaro has said Brazil acted to protect its reserves but\nwanted to avoid a confrontation.\n    The consensus among administration officials seems to be\nthat Brazil's latest debt crisis is the result of the domestic\neconomic problems.\n    \"Brazil is a special case, but there's no doubt they would\nnot be in the mess they're in if they had not screwed-up their\neconomic policy,\" a senior official added.\n    Several of the regional banks that will meet with Volcker\ntomorrow declined to comment because the talks will be held at\nthe Fed's suggestion.\n    \"Since they are the hosts, we feel it's up to them if they\nwant to say something,\" one regional bank official said.\n    But other banking sources said that regional banks, many of\nwhich are refusing to continue lending to Latin America, are\ndissatisfied with decisions of major banks such as Citibank, in\nthe refinancing of foreign debts.\n    The sources added that Volcker, for his part, is\ndissatisfied with some major banks' refusal to make interest\nrate concessions to Brazil and other Latin American debtors,\nand would like to see smaller creditor banks take a more actve\nrole in the rescheduling process.\n   \n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:07:07.46",
    "places": [
      "usa",
      "brazil"
    ],
    "id": "1357"
  },
  {
    "title": "S/P MAY DOWNGRADE MEPC PLC'S EUROBONDS",
    "body": "Standard and Poor's said it is\nreviewing  two A-rated eurobond issues totalling\n125 mln stg for a possible downgrade.\n    The review follows the agreement by the British-based\nreal-estate firm to acquire a controlling interest in Oldham\nEstate Plc and its offer to buy the remaining equity.\n    The maximum cost of the acquisition would be 620.9 mln stg.\nThe purchase owuld be financed largely by equity, but\nuncertainties exist as to the amount of debt to be assumed by\nMEPC and the quality of the properties in Oldham's portfolio, S\nand P said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:09:16.11",
    "places": [
      "usa"
    ],
    "id": "1358"
  },
  {
    "title": "FLORIDA PUBLIC  SPLITS STOCK, UPS DIV",
    "body": "Florida Public Utilities Co\nsaid its board declared a three-for-two stock split on its\ncommon stock.\n    It said holders of record April 15 will receive one\nadditional share May one for each two shares held.\n    The company also said it raised the dividend on its common\nstock by two cts to 33 cts a share on a pre-split basis.\n    The dividend is payable April one to holders of record\nMarch 18.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:09:23.01",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1359"
  },
  {
    "title": "CITY INVESTING TRUST  SETS CASH PAYOUT",
    "body": "City Investing Co Liquidating Trust\nsaid it declared a cash distribution of 25 cts a unit, payable\nApril 10 to unit-holders of record April one.\n    The trust last paid a stock distribution of General\nDevelopment Corp  shares in July.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:09:28.30",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1360"
  },
  {
    "title": "FCOJ SUPPLIES SIGNIFICANTLY ABOVE YEAR AGO-USDA",
    "body": "Total supply of frozen concentrated\norange juice (FCOJ) in 1986/87 is expected to be significantly\nabove year-earlier levels, even with carry-in stocks well below\nthe previous season, the U.S. Agriculture Department said.\n    In a summary of its Fruit Situation Report, the Department\nsaid Florida's imports of FCOJ, mostly from Brazil, have shown\nsharp gains to date.\n    The Department noted the price of FCOJ will probably be\naffected by the final decision, scheduled for April 22, on\nwhether the U.S. considers Brazilian FCOJ exports to the U.S.\nhave caused injury.\n    Continuing strong demand for fresh and processing fruit\ncoupled with seasonal declines in supplies mean that grower\nprices will remain higher this spring than a year earlier.\n    The department said stocks of fresh apples in cold storage\nat the beginning of February were moderately larger than a year\nearlier, but strong demand has kept apple prices firm.\n    In view of the strong demand and seasonally reduced\nsupplies, apple prices are projected to stay firm.\n    During the remainder of 1986/87, supplies of most processed\nnoncitrus fruit will be smaller than a year ago, it said.\n    Movement of canned fruit has improved, and remaining\nsuppies for some canned fruit items are tight and as a\nconsequence prices have strengthened, the department said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:11:18.38",
    "topics": [
      "orange"
    ],
    "places": [
      "usa"
    ],
    "id": "1361"
  },
  {
    "title": "SECURITIES TAX WOULD NEED WHITE HOUSE SUPPORT",
    "body": "House Ways and Means Committee\nchairman Dan Rostenkowski would want White House support for\nany tax increase, including a tax on securities transactions,\nbefore considering the issue, a staff member said.\n    In addition, congressional leaders have not agreed on\nwhether they will seek any tax increase this year, he said.\n    Rostenkowski, an Illinois Democrat whose committee is in\ncharge of tax legislation, met this afternoon with House\nSpeaker Jim Wright, a Texas Democrat, to discuss a variety of\ntax and budget issues, an aide said. He added that Wright did\nnot endorse the securities transfer tax but raised it yesterday\nas a possible way to cut the federal deficit.\n    The aide to Wright added that Wright asked the Ways and\nMeans Committee to look into the securities transfer tax.\nHowever, he said Wright had not recommended it as he had\nanother tax proposal to hold income tax rates at the 1987 level\nrather than allow the 1987 tax rate cut to take place.\n    Wright brought up a 0.5 pct tax on all sales and purchases\nof publicly traded securities as a way to raise about 17\nbillion dlrs a year, the aide said.\n    The New York Stock Exchange said it had not seen the\nproposal by the House Speaker but added that it is \"strongly\nopposed to any proposal to impose a transfer tax on securities\ntransactions.\"\n    NYSE vice president Richard Torrenzano said in a statement,\n\"Such a tax would be paid by millions of investors nationwide\nand would be counter-productive, making America's securities\nindustry vulnerable to foreign competition at a time\nwhen financial markets are becoming increasingly\ninternational.\"\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:11:38.35",
    "places": [
      "usa"
    ],
    "id": "1362"
  },
  {
    "title": "FLORIDA COMMERCIAL BANKS INC  DIVIDEND",
    "body": "Qtly div 14 cts vs 19 cts prior\n    Pay March 31\n    Record March 16\n    Note: Quarterly dividend for prior quarter included special\npayout of five cts a share.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:11:42.39",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1363"
  },
  {
    "title": " YEAR NET",
    "body": "Oper shr 33 cts vs 33 cts\n    Oper net 3,330,000 vs 2,969,000\n    Revs 95.9 mln vs 92.0 mln\n    Avg shrs 8,610,068 vs 7,603,219\n    Note: 1986 net excludes extraordinary gain of 577,000 dlrs\nor seven cts shr vs yr-ago gain of 71,000 dlrs or one ct shr.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:12:08.03",
    "topics": [
      "earn"
    ],
    "places": [
      "canada"
    ],
    "id": "1364"
  },
  {
    "title": "CBOE MEMBERSHIP SEAT SELLS FOR RECORD HIGH",
    "body": "A membership seat on the Chicago Board\nOptions Exchange (CBOE) sold for a record 342,000 dlrs Friday,\nthe exchange said today.\n    The previous record price of 308,000 dlrs was set on\nFebruary 17.\n    The current bid for a CBOE seat is 315,000 dlrs and the\noffer is 345,000 dlrs.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:12:20.68",
    "places": [
      "usa"
    ],
    "id": "1365"
  },
  {
    "title": " 4TH QTR NET",
    "body": "Shr profit 31 cts vs loss 20 cts\n    Net profit 1,044,424 vs loss 515,425\n    Avg shrs 3,406,841 vs 2,544,531\n    Year\n    Shr profit 2.83 dlrs vs profit 42 cts\n    Net profit 8,811,142 vs profit 1,058,503\n    Avg shrs 3,111,464 vs 2,544,531\n    Note: Full company name is United Fire and Casualty Co\n    Net includes realized gains of 93,551 dlrs and 764,177\ndlrs, respectively, in 1986 qtr and year, and of 92,075 dlrs\nand 972,935 dlrs, respectively, in 1985 qtr and year.\n    1985 results restated for three-for-two stock split. Net\nincome for 1985 has been restated due to a change in the method\nused in computing deferred acquisition costs.\n    1986 results include the effect of a stock offering\nresulting in the issuance of an additional 862,500 shares of\ncommon stock.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:14:24.12",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1366"
  },
  {
    "title": " 4TH QTR NET",
    "body": "Oper shr 30 cts vs 24 cts\n    Oper net 38,686,000 vs 28,384,000\n    Revs 42.3 mln vs 31.2 mln\n    Year\n    Oper shr 1.05 dlrs vs 94 cts\n    Oper net 136,594,000 vs 110,831,000\n    Revs 153.3 mln vs 125.1 mln\n    Note: Fourth quarter results exclude extraordinary and\nother items which raised final 1986 net to 62,485,000 dlrs or\n49 cts a share and lowered final 1985 net to 18,941,000 dlrs or\n16 cts a share in 1985.\n    Full-year results exclude extraordinary and other items\nwhich raised final 1986 net to 237,961,000 dlrs or 1.87 dlrs\nper share and 1985 net to 152,049,000 or 1.29 dlrs per share.\n    1985 results restated to reflect June, 1986 two-for-one\nstock split.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:16:34.28",
    "topics": [
      "earn"
    ],
    "places": [
      "canada"
    ],
    "id": "1367"
  },
  {
    "title": "JEFFERIES AND CO INC SAID IT IS MAKING A MARKET FOR GM STOCK AT 77-1/2 to 78\n",
    "date": " 3-MAR-1987 17:16:36.22",
    "id": "1368"
  },
  {
    "title": "U.S. CORN, SORGHUM PAYMENTS 50-50 CASH/CERTS",
    "body": "Eligible producers of 1986 crop U.S.\ncorn and sorghum will receive an estimated 600 mln dlrs in\ndeficiency payments -- 50 pct in generic commodity certificates\nand 50 pct in cash, the U.S. Agriculture Department said.\n    It said corn producers will receive about 515 mln dlrs and\nsorghum producers about 85 mln dlrs.\n    Only the cash portion of the payments will be subject to\nthe 4.3 pct reduction in compliance with the Gramm-Rudman\nbudget deficit control act of 1985, it said.\n    Corn and sorghum producers who requested advance deficiency\npayments have already received about 2.8 billion dlrs and 225\nmln dlrs, respectively, USDA said.\n    The Department said deficiency payment rates of 51.5 cents\nper bushel for corn and 49 cents per bushel for sorghum were\nreceived by producers requesting advance payments.\n    Deficiency payments are calculated as the difference\nbetween an established target price and the higher of the basic\nloan rate, or the national average price received by farmers\nduring the first five months of the marketing year --\nSeptember-January.\n    National weighted average market prices for the first five\nmonths of the season were 1.46 dlrs per bushel for corn and\n1.33 dlrs per bushel for sorghum. Eligible corn producers will\nbe paid 63 cts per bushel, based on the difference between the\n3.03 target price and the 2.40 dlr per bushel basic loan rate.\n    Sorghum producers' deficiency payment rate will be 60 cents\nper bushel, based on the difference between the 2.88 dlrs per\nbushel target price and the 2.28 dlrs per bushel basic loan\nrate.\n    The deficiency payment rates for both commodities are the\nmaximum permitted by law, the department said.\n    Eligible corn and sorghum producers will receive another\n1986 crop deficiency payment in October if the national average\nmarket prices received by farmers during the entire marketing\nyear for both commodities are below the basic loan rates, the\ndepartment said.\n    The payments will be issued through local Agricultural\nStabilization and Conservation Service offices, it said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:18:55.56",
    "topics": [
      "grain",
      "corn",
      "sorghum"
    ],
    "places": [
      "usa"
    ],
    "id": "1369"
  },
  {
    "title": "PENNZOIL  SAYS IT HAS MADE SETTLEMENT OFFERS",
    "body": "Pennzoil Co chairman J. Hugh Liedtke\nsaid the company has made several proposals to Texaco Inc  \nto settle a 9.13 billion dlr judgment awarded to Pennzoil and\nthat a settlement was \"in the best interests of both\ncompanies.\"\n    Liedtke, in a letter mailed today to Pennzoil shareholders,\nsaid Texaco's management has incorrectly implied in recent\npublic statements that Pennzoil was not interested in settling\nthe case.\n    \"Pennzoil has made Texaco several proposals, both before\nand after trial, to settle this dispute,\" Liedtke said in the\nletter. \"We do not know why Texaco's officials would now make\nsuch clearly untrue statements.\"\n    Last month, a Texas state appeals court upheld a jury\njudgment that Texaco illegally interfered with Pennzoil's plan\nto acquire Getty Oil in 1983. The appeals court reduced by two\nbillion dlrs the original 10.53 billion dlrs in damages awarded\nto Pennzoil, but interest accruing on the award has pushed the\ntotal amount back above 10 billion dlrs.\n    Pennzoil said that Texaco had made four unsatisfactory\nproposals to settle the billion-dollar lawsuit.\n    \"Other than to put on the record that it has made offers,\nTexaco's proposals make no sense,\" Liedtke said in the letter.\n\"In fact, two of Texaco's offers were identical and were\nproposals that Texaco knew in advance Pennzoil would not\naccept.\"\n    The letter did not disclose terms of settlement offers made\nby either Pennzoil or Texaco.\n    \"If and when Texaco's management changes its position and\ndemonstrates a willingness to make a good faith attempt to\nsettle this matter, Pennzoil will make every effort to\ncooperate,\" Liedtke said. \"Such a solution, I believe, is\nclearly in the interests of both companies, even if it not\nattractive, as a personal matter, to Texaco's management and\ndirectors.\"\n    Liedtke said that cash flow from the Getty Oil assets and\nprofits from those assets that have since been sold\n\"approximately equaled\" Texaco's purchase price of 10 billion\ndlrs for Getty.             \n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:20:21.62",
    "places": [
      "usa"
    ],
    "id": "1370"
  },
  {
    "title": "CBOE MEMBERSHIP SEAT SELLS FOR RECORD HIGH",
    "body": "A membership seat on the Chicago Board\nOptions Exchange (CBOE) sold for a record 342,000 dlrs Friday,\nthe exchange said today.\n    The previous record price of 308,000 dlrs was set on\nFebruary 17.\n    The current bid for a CBOE seat is 315,000 dlrs and the\noffer is 345,000 dlrs.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:22:50.06",
    "places": [
      "usa"
    ],
    "id": "1371"
  },
  {
    "title": "USDA PROPOSES NAME CHANGES IN BEEF GRADE",
    "body": "The U.S. Agriculture Department\nproposes to rename the \"USDA Good\" grade of beef to \"USDA Select.\"\n    The department said the proposed change is in response to a\npetition from Public Voice for Food and Health Policy and would\npresent a more positive image of this grade of beef and help\ncalorie-conscious consumers select leaner cuts of meat.\n    Under current rules, the \"good\" grade of meat has less\nmarbling and fat than the \"prime\" or \"choice\" grades, it said.\n    Standards for all of the grades would remain unchanged\nunder the proposal.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:24:17.18",
    "topics": [
      "livestock",
      "carcass"
    ],
    "places": [
      "usa"
    ],
    "id": "1372"
  },
  {
    "title": "JEFFERIES AND CO MAKING MARKET FOR GM STOCK",
    "body": "Jefferies and Co Inc said it is\nmaking a market for General Motors Corp  stock at 77-1/2 to\n78.\n    GM said earlier today its directors authorized the\nrepurchase of up to 20 pct of its common stock by the end of\n1990 and that it would not repurchase more than ten mln shares\nthis year.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:25:41.33",
    "places": [
      "usa"
    ],
    "id": "1373"
  },
  {
    "title": "MORTON THIOKOL  SELLING HEADQUARTERS",
    "body": "Morton Thiokol Inc said it has a\ntentative agreement to sell its downtown headquarters to\nTishman Midwest Management Corp for undisclosed terms.\n    Thomas Russell, company spokesman, said the proceeds,\nrepresenting a non-operating asset, will be reinvested into the\noperating part of its business.\n    The company will move 700 of its employees to a new\nlocation at the new Northwestern Atrium late this summer. Some\n450 employees will move from the headquarters at 110 N. Wacker\nDrive and the other 250 will leave another downtown location.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:26:15.27",
    "places": [
      "usa"
    ],
    "id": "1374"
  },
  {
    "title": "VENDO CO  4TH QTR LOSS",
    "body": "Shr loss 1.48 dlrs vs loss 36 cts\n    Net loss 4,036,000 vs loss 983,000\n    Sales 16.6 mln vs 17 mln\n    12 mths\n    Shr loss 1.88 dlrs vs profit 71 cts\n    Net loss 5,113,000 vs profit 1,904,000\n    Sales 85.4 mln vs 88.5 mln\n    Note: Prior year net includes extraordinary loss of 298,000\ndlrs in qtr and extraordinary profit of 718,000 dlrs in year.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:27:35.64",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1375"
  },
  {
    "title": "HILTON HOTELS  GIVEN RIGHT TO SUE IRS",
    "body": "Hilton Hotels Corp said it received\napproval from Federal court to sue the Internal Revenue Service\nto determine if the IRS was correct in allowing the Conrad\nHilton Foundation to hold certain stocks.\n    That ruling by the IRS allowed the Foundation, set up by\nthe late Conrad Hilton, to hold onto 27 pct of the Hilton Corp,\nworth approximately 164 mln dlrs, according to Hilton\nattorneys.\n    Barron Hilton, Conrad's son, is making a bid to purchase\nthose 6,782,000 shares, the company said.\n    However, in an effort to hold onto the stock, the\nFoundation changed its tax status from a private foundation to\na public support organization, freeing it from the constraints\nof the excess business holdings limitations imposed on private\nfoundations by the Tax Reform Act of 1969, according to the\nHilton Corp.\n    That act said that a private foundation could not own more\nthan 20 pct of a corporation, lawyers explained. Anything over\nthat figure had to be sold.\n    The lawyers explained that when Conrad Hilton died, the law\nrequired that excess holdings by the Foundation above 20 pct of\nthe common stock should be sold. Under Conrad Hilton's will,\nBarron had the option to buy the seven pct,  according to the\nHilton lawyers.\n    Now Hilton lawyers contend that through a clause in the tax\nlaw, Barron Hilton is entitled to buy the entire 27 pct block\nof stock. The Hilton lawyers explained that Barron was\nattempting to keep the large block from going public, leaving\nthe family in control of the corporation.\n   \n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:28:36.93",
    "places": [
      "usa"
    ],
    "id": "1376"
  },
  {
    "title": "AUSTRALIAN GOVERNMENT TO PAY SUBSIDIES--USDA",
    "body": "The Australian Government will likely\nreimburse the Australian Wheat Board, AWB, about 132 mln (U.S.)\ndlrs to pay wheat farmers for their 1986/87 crop, the U.S.\nAgriculture Department said.\n    In its report on Export Markets for U.S. Grains, the\ndepartment said the sharp fall in world wheat prices has\nreduced the export sales revenue of the AWB to levels\ninsufficient to cover its breakeven export price estimated at\naround 98 dlrs per tonne.\n     For example the recent large sales of wheat to China (1.5\nmln tonnes) and Egypt (2.0 mln tonnes) were well below the\nbreakeven export price, it said.\n    Australian wheat farmers normally receive an advance\npayment known as the Guaranteed Minimum Price, GMP, calculated\nat 90 pct of the average of estimated returns in the current\nyear and the two lowest of the previous three years, the\ndepartment said.\n    In addition, deductions for taxes, freight, handling and\nstorage are deducted from the GMP the farmer receives.\n    But the department said the Australian Bureau of\nAgricultural Economics, BAE, predicts wheat production will\ndrop sharply from 17.8 mln tonnes in 1986/87 to 13.5 mln in\n1989/90.\n    The decline will result from low world grain prices leading\nto shifts to livestock and other crops which could benefit U.S.\nwheat exports, the department said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:29:01.58",
    "topics": [
      "grain",
      "wheat"
    ],
    "places": [
      "usa",
      "australia"
    ],
    "id": "1377"
  },
  {
    "title": "LAWSON PRODUCTS INC  RAISES QTLY PAYOUT",
    "body": "Qtly div seven cts vs six cts prior\n    Pay April 17\n    Record April three\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:29:05.91",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1378"
  },
  {
    "title": "KANEB ENERGY  MAY OMIT FUTURE PAYOUTS",
    "body": "Kaneb Energy Partners Ltd said it may be\nforced to omit or lower future quarterly cash distributions\nbecause of a contract dispute with two major customers and the\ncontinued slump in oil and gas prices.\n    The partnership said, however, that it will pay a regular\nquarterly distribution of 60 cts a unit on April 15 to holders\nof record March 31.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:29:34.16",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1379"
  },
  {
    "title": "ITT  CONSIDERING STOCK REPURCHASE",
    "body": "ITT Corp Chairman Rand Araskog told a\nmeeting of analysts that the company has been considering a\nrepurchase of some shares.\n    \"We are considering that as a very important way to\nincrease earnings per share,\" Araskog said and noted the aim\nwas not to boost ITT's stock short term in the market.\n    ITT recently reported that its 1986 earnings from\noperations rose to 3.45 dlrs per share from 1.80 dlrs per share\na year ago.\n    Araskog said its preferred issues were among the shares\nbeing studied for repurchase.\n    \"We look forward to a strong 1987 and a stronger 1988,\"\nAraskog told the analysts. \"We have more confidence...than any\nother time in our history - at least with me.\"\n    Araskog took over as chairman of ITT in 1979 and since then\nhas sold many of the diversified businesses that were acquired\nby former chairman Harold Geneen in the 1960s and 1970s.\n   Last year, the company transferred its European\ntelecommunications businesses into a joint venture with Cie\nGenerale d'Electricite, called Alcatel N.V.\n    ITT retained a 37 pct interest in the venture.\n    Although the agreement was closed by the end of the year,\nAraskog said the final transfers of stock of a number of small\ncompanies was recently concluded.\n    \"We really wrapped everything up,\" he said adding that the\ncompany had received an additional 113 mln dlrs from the stock\ntransfers.\n    Araskog said the company received all the cash due from the\nAlcatel venture except for 400 mln dlrs in intercompany\nreceiveables, which should be paid by the end of March.\n    Araskog had told analysts last July that the company was\nconsidering repurchasing some shares, but a spokesman noted\nthat ITT found it difficult to undertake the program because of\nthe sharp appreciation in its stock price.\n   \n    Breaking out operating earnings by divisions, ITT said\ndiversified services, which consists of insurance, financial\nservices, communications and hotels, saw the sharpest rise in\noperating income, to 454 mln dlrs, from 297 mln dlrs a year\nago.\n    Industrial and defense operating income declined 48 mln\ndlrs, to 315 mln dlrs, while natural resources increased 10 mln\ndlrs, to 73 mln dlrs, the company said.\n   \n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:30:56.07",
    "places": [
      "usa"
    ],
    "id": "1380"
  },
  {
    "title": "BRASCAN LTD  4TH QTR NET",
    "body": "Shr 50 cts vs 46 cts\n    Net 43.0 mln vs 34.8 mln\n    YEAR\n    Shr 1.55 dlrs vs 1.38 dlrs\n    Net 136.8 mln vs 112.9 mln\n    Note: Holding company.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:35:05.19",
    "topics": [
      "earn"
    ],
    "places": [
      "canada"
    ],
    "id": "1381"
  },
  {
    "title": "FLORIDA COMMERCIAL BANKS INC  QTLY DIV",
    "body": "Qtly div 14 cts vs 14 cts prior\n    Payable March 31\n    Record March 16\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:35:09.16",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1382"
  },
  {
    "title": "FIRST UNION  SELLS DEBT AT 8-1/8 PCT",
    "body": "First Union Corp said it is\nraising 100 mln dlrs through an offering of par-priced 8-1/8\npct subordinated notes due December 15, 1996.\n    Managing underwriter for the issue is Shearson Lehman\nBrothers Inc.\n    The bonds, which are non-callable, are rated A-2 by Moody's\nInvestors Service and A-minus by Standard and Poor's.\n    They were priced to yield 94.5 basis points over Treasury\nsecurities of comparable maturity.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:36:48.40",
    "places": [
      "usa"
    ],
    "id": "1383"
  },
  {
    "title": " YEAR NET",
    "body": "Shr 16 cts vs 35 cts\n    Net 476,000 vs 929,000\n    Revs 3,000,000 vs 3,600,000\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:39:59.77",
    "topics": [
      "earn"
    ],
    "places": [
      "canada"
    ],
    "id": "1384"
  },
  {
    "title": "JAPAN CUTTING CHINA CORN COMMITMENTS - USDA",
    "body": "Japanese traders have apparently\nsharply reduced commitments to buy Chinese corn over the next\nsix months due to high prices, the U.S. Agriculture Department\nsaid.\n    In its World Production and Trade Report, the department\nsaid traders indicated China may lack supplies or be unwilling\nto sell at current low world prices.\n    If the reports are confirmed, China's major export\ndestinations such as USSR, Japan, and South Korea, could\nincrease purchases of U.S. corn, it said.\n    China is currently forecast to export 5.5 mln tonnes of\ncorn during 1986/87 (Oct-Sept), it said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:40:09.18",
    "topics": [
      "wheat",
      "corn"
    ],
    "places": [
      "usa",
      "japan",
      "china"
    ],
    "id": "1385"
  },
  {
    "title": "PHOTON TECHNOLOGY, ML TECHNOLOGY IN VENTURE",
    "body": "\nsaid it entered an agreement in principle with  to undertake a research and development project.\n    ML Technology will pay Photon about 3.1 mln dlrs over a\nthree-year period to develop new photonic technologies with\napplications in the medical field.\n    Pursuant to the agreement, ML will acquire warrants\nexercisable into 475,000 shares of Photon stock on February 10,\n1988.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:41:40.35",
    "places": [
      "usa"
    ],
    "id": "1386"
  },
  {
    "title": "SAUDI SUCCESS SEEN IN CURBING OPEC PRODUCTION",
    "body": "Saudi Arabia will succeed in pressuring\nother members of the Organization of Petroleum Exporting\nCountries to stay within their production quotas, said Morgan\nStanley Group managing director John Wellemeyer.\n    Wellemeyer, speaking to reporters at an offshore oil\nengineering conference, also said he expected OPEC nations to\nattempt to hold prices under 20 dlrs a barrel for several years\nto keep industrial demand for residual fuel oil strong.\n    \"Over the next few weeks I think you'll see a concerted\neffort by the Saudis to get production down,\" Wellemeyer said.\n    \"The Saudis are committed to that price level (of 18 dlrs a\nbarrel) and are willing to make it happen again,\" he said.\n    In recent weeks, oil prices fell to the 16 to 17 dlrs a\nbarrel level on market reports of some OPE members producing\nabove their quota, pushing total OPEC production to 15.8 mln\nbarrels per day. But prices rebounded today, with April U.S.\ncrude prices up about one dlr to over 17 dlrs a barrel on a\nbelief Saudi Arabia is attempting to curb OPEC output.\n    Wellemeyer said that sharp declines in U.S. oil production\ncould push demand for OPEC oil above 20 mln barrels per day as\nearly as 1989 and up to 24 mln barrels per day by 1993.\n    Although the projected increases in demand for OPEC oil\nshould strengthen world prices, Wellemeyer said he believed the\norganization would hold its official price below 20 dlrs a\nbarrel for some time to prevent residual fuel users from\nswitching to natural gas supplies. The interfuel swing market\naccounts for about eight mln barrels a day, or 18 pct of the\nworld demand for oil.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:44:25.81",
    "topics": [
      "crude"
    ],
    "organisations": [
      "opec"
    ],
    "places": [
      "usa",
      "saudi-arabia"
    ],
    "id": "1387"
  },
  {
    "title": "EC DRIVING TO CAPTURE BRAZIL WHEAT MARKET - USDA",
    "body": "The European Community, EC, sold\n75,000 tonnes of soft wheat at a subsidized price of between 85\nand 89 dlrs per tonne FOB for March delivery in a continuing\nbid to establish itself in the Brazilian wheat market, the U.S.\nAgriculture Department said.\n    The sale sharply undercut the U.S. offer of 112 dlrs per\ntonne FOB for 33,000 tonnes of wheat, it said in its latest\nreport on Export Markets for U.S grains.\n    EC sales to Brazil total about 225,000 tonnes during\n1986/87 (July-June) in stark contrast to only 50,000 tonnes in\nthe 1985/86 season, it said.\n    The increasing presence of EC wheat in Brazil comes at a\ntime when the Brazilian Wheat Board, BWB, expects the wheat\nimport market will expand to 3.4 mln tonnes from the current\nforecast of 3.0 mln in the 1986/87 year.\n    The BWB cites record consumption and an eventual decline in\ndomestic production, and says government plans to lower the\nguaranteed price of wheat from 242 dlrs per tonne to 180 dlrs\nwill contribute to greater import demand, the USDA said.\n    It said the BWB expects the U.S. to be major supplier of\nthe additional 400,000 tonnes, but commitments for purchase of\nU.S. wheat through two-thirds of 1986/87 year total only\n600,000 tonnes versus 700,000 a year ago.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:46:40.79",
    "topics": [
      "grain",
      "wheat"
    ],
    "organisations": [
      "ec"
    ],
    "places": [
      "usa",
      "brazil"
    ],
    "id": "1388"
  },
  {
    "title": "BRITISH AEROSPACE TO ANNOUNCE JET SALES",
    "body": "British Aerospace inc said it would\nhold a news conference Thursday morning to announce the sale of\n18 to 20 jets to four airlines, two of them in the United\nStates.\n    A company spokesman said the sales involved 12 BAE 146 jets\nand six to eight Jetstream 31 commuter jets.\n    He declined to name the four airlines which were buying the\njets.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:51:56.06",
    "places": [
      "usa",
      "uk"
    ],
    "id": "1389"
  },
  {
    "title": "MARK RESOURCES TO SELL SECURITIES",
    "body": " said it\nagreed to sell 50.3 mln dlrs of securities to Canadian\ninvestment dealers Nesbitt Thomson Deacon Inc, Gordon Capital\nCorp and First Marathon Securities Ltd.\n    Mark said the securities would consist of 2.3 mln series A\nspecial warrants at 11 dlrs each, with each exchangeable for\none common share, and 25,000 series B special warrants at 1,000\ndlrs each and each exchangeable for one 1,000 dlr seven pct\nconvertible subordinated debenture.\n    Closing is expected March 17, it said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:52:31.05",
    "places": [
      "canada"
    ],
    "id": "1390"
  },
  {
    "title": "ZENITH LABS  WILL REPORT 4TH QTR LOSS",
    "body": "Zenith Laboratories Inc said the\ncompany will report a fourth quarter loss, and the amount will\nbe determined on completion of its year end audit. The company\ndid not elaborate further.\n    For the third quarter ended Sept 30, 1986, Zenith reported\na loss of 3,451,000 dlrs or 16 cts per share, adjusted for a\nMay 1986 2-for-1 stock split.\n    The company also said it received Food and Drug\nAdministration approval to market Cefadroxil, a generic version\nof an antibiotic with domestic sales exceeding 50 mln dlrs in\n1986.\n    Zenith said it will not market the drug until \"questions\nrelating to the applicability of certain patents have been\nresolved.\"\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:54:29.53",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1391"
  },
  {
    "title": "U.S. COMMERCE SECRETARY QUESTIONS FUJITSU DEAL",
    "body": "Commerce Secretary Malcolm Baldrige\nsaid he felt a proposed takeover by Japan's  of\nU.S.-based Fairchild Semiconductor Corp, a subsidiary of\nSchlumberger Ltd , should be carefully reviewed.\n    He told the Semiconductor Industry Association the deal\nwould soon be discussed by representatives of several different\ngovernment departments.\n    The Reagan administration has previously expressed concern\nthat the proposed takeover would make Fujitsu a powerful part\nof the U.S. market for so-called supercomputers at a time when\nJapan has not bought any American-made supercomputers.\n    In addition, U.S. defense officials have said they were\nworried semiconductor technology could be transferred out of\nthe United States, eventually giving Japanese-made products an\nedge in American high-technology markets for defense and other\ngoods.\n    Treasury Secretary James Baker recently told a Senate\ncommittee the proposed takeover would be reviewed by the \ncabinet-level Economic Policy Council.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 17:56:37.62",
    "places": [
      "usa",
      "japan"
    ],
    "id": "1392"
  },
  {
    "title": "MANDATORY PRODUCTION CONTROLS DEBATED AT APC",
    "body": "Delegates to the American Pork Congress\nwill decide whether or not they want mandatory production\ncontrols when they vote on the official pork producer policy\nwednesday, the National Pork Producers Council said.\n    The American Pork Congress, APC, delegates, listened to\nboth sides of the question when former Iowa Congressman Berkley\nBedell and Bill Lesher, USDA Assistant Secretary for Economics\nfor the years 1981 to 1985 debated at the convention in\nIndianapolis.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 18:00:55.71",
    "topics": [
      "livestock",
      "carcass"
    ],
    "places": [
      "usa"
    ],
    "id": "1393"
  },
  {
    "title": "TAIWAN BUYS 25,000 TONNES U.S. SOYBEANS",
    "body": "Taiwan bought 25,000 tonnes U.S.\nsoybeans today at 203.40 dlrs a tonne, C and F, Gulf, for May\n15-30 shipment, private export sources said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 18:01:44.12",
    "topics": [
      "oilseed",
      "soybean"
    ],
    "places": [
      "usa"
    ],
    "id": "1394"
  },
  {
    "title": "TAIWAN PASSES ON U.S. CORN, WILL RETENDER",
    "body": "Taiwan passed on its tender overnight\nfor 25,000 tonnes of U.S. corn and 49,000 tonnes U.S. sorghum,\nprivate export sources said.\n    Taiwan will retender for the corn, for May 15-30 shipment\nif via the Gulf, or June 1-15 via Pacific northwest, on March\n6, but has not rescheduled a tender for sorghum, they said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 18:02:39.11",
    "topics": [
      "grain",
      "corn"
    ],
    "places": [
      "usa",
      "taiwan"
    ],
    "id": "1395"
  },
  {
    "title": "BANGLADESH PASSES ON TENDER FOR SOFT WHEAT",
    "body": "Bangladesh passed on its weekend tender\nfor 100,000 tonnes of optional origin soft wheat, private\nexport sources said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 18:03:32.10",
    "topics": [
      "grain",
      "wheat"
    ],
    "places": [
      "usa",
      "bangladesh"
    ],
    "id": "1396"
  },
  {
    "title": "AMERICAN STOCK EXCHANGE PLANS AD CAMPAIGN",
    "body": "The American Stock Exchange (Amex),\nwhich faces stiff competition from the New York Stock Exchange\nand the over-the-counter market for listed companies, said it\nis launching a 2 mln dlr advertising campaign.\n    Amex will advertise on television for the first time, it\nsaid. The campaign also includes print ads.\n    \"Our entry into television advertising reflects our optimism\nfor the future. We have proved ourselves a vigorous and\ncompetitive marketplace and we are eager to communicate that\nwherever and whenever we can,\" said Arthurt Levitt Jr., chairman\nof the exchange, in a statement.\n    The exchange said its advertising campaign, with the theme\n\"We Extend Your Reach,\"  focuses on its role as a diversified\nfinancial exchange trading both stocks and options.\n    The television commercials will air on network, cable and\nlocal television stations. The commercials will be broadcast\nduring March, May, September and November.\n    The commercials, titled \"The Options Pit,\" and \"An Attractive\nInvestment,\" describe Amex's technology advances and\ninternational ties. The print campaign consists of four ads\ntargeted to specific audiences: listed companies, individual\ninvestors, institutional investors and brokers.\n    The Amex currently has a two-way trading link with the\nToronto Exchange and has an agreement with the Europeaon\nOptions Exchange to trade XMI, the major market index of 20\nblue-chip stocks, during European trading hours. The latter is\nexpected to begin by mid-1987.\n   \n Reuter\n\u0003",
    "date": " 3-MAR-1987 18:04:59.16",
    "places": [
      "usa"
    ],
    "id": "1397"
  },
  {
    "title": "PORK CHECKOFF REFUNDS LESS THAN EXPECTED",
    "body": "The National Pork Board announced at the\nAmerican Pork Congress convention in Indianapolis that refunds\nunder the legislative checkoff program are running less than\nexpected.\n    The Board oversees collection and distribution of funds\nfrom the checkoff program that was mandated by the 1985 farm\nbill. Virgil Rosendale, a pork producer from Illinois and\nchairman of the National Pork Board, said over 2.2 mln dlrs was\ncollected in January and refunds are running almost nine pct,\nconsiderably less than expected.\n    \"We believe that this indicates good producer support for\nthe new checkoff. We're getting good compliance from markets,\nfrom packers and from dealers,\" Rosendale said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 18:07:19.94",
    "topics": [
      "livestock",
      "carcass"
    ],
    "places": [
      "usa"
    ],
    "id": "1398"
  },
  {
    "title": "SOUTH AFRICA CORN EXPORTS COULD BE REDUCED-USDA",
    "body": "Despite earlier optimistic\nindications, the South African corn crop is at a critical stage\nin its development and recent reports of heat stress could\nreduce production and therefore exportable supplies, the U.S.\nAgriculture Department said.\n    In its report on Export Markets for U.S. Grains, the\ndepartment said South Africa's corn exports in the 1986/87\n(Oct-Sept) season are estimated at 2.5 mln tonnes, up 40 pct\nfrom the previous year.\n    The re-emergence of South Africa as a competitor follows a\nperiod of severe droughts, which at one point required South\nAfrica to import 2.7 mln tones of U.S. corn in 1983/84, it\nsaid.\n    Since those imports in 1983/84, the U.S. has been facing\nincreased competition from South Africa in Taiwan and Japan.\n    But if South Africa is perceived as lacking available\nsupplies, purchases of U.S. corn may be further stimulated, the\ndepartment said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 18:07:32.91",
    "topics": [
      "grain",
      "corn"
    ],
    "places": [
      "usa",
      "south-africa"
    ],
    "id": "1399"
  },
  {
    "title": "ARVIN INDUSTRIES  TO SELL 150 MLN DLRS DEBT",
    "body": "Arvin Industries Inc said it is raising\n150 mln dlrs through an offering of 8-3/8 pct 10-year notes and\n9-1/8 pct 30-year sinking fund debentures.\n    Lead underwriter for the offerings, both of 75 mln dlrs, is\nMerrill Lynch Capital Markets.\n    The notes were priced at 99.63 pct to yield 8.43 pct, and\nthe debentures were priced at 99.54 pct to yield 9.17 pct.\n    The notes are redeemable at par at Arvin's option after\nMarch 1, 1994. The debentures are redeemable at any time but\nnon-refundable before March 1, 1997. Both are rated BAA-2 by\nMoody's Investors Service and BBB by Standard and Poor's.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 18:11:10.75",
    "places": [
      "usa"
    ],
    "id": "1400"
  },
  {
    "title": "TENNECO  TO REDEEM PREFERRED STOCK",
    "body": "Tenneco Inc said it will redeem on April\neight all 2,515,400 outstanding shares of its 11 dlr cumulative\npreferred stock.\n    The company said it would pay 102 dlrs a share for the\npreferred stock, plus accrued and unpaid dividends of 24 cts a\nshare.\n    Tenneco said it will pay the regular quarterly dividend on\nthe preferred on March 31 to shareholders of record February\n27.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 18:11:38.97",
    "places": [
      "usa"
    ],
    "id": "1401"
  },
  {
    "title": "BORDEN INC  TO REDEEM 8-1/2 PCT DEBENTURES",
    "body": "Borden Inc called for redemption on\nMarch 23 of all its outstanding 8-1/2 pct sinking fund\ndebentures, due 2004.\n    The company said the redemption price is at 104.55 pct of\nface value plus 40.61 dlrs accrued interest from October 1,\n1986 to the redemption date, making for a total of 1,086.11\ndlrs for each 1,000 dlrs face value.\n    The trustee is Bank of America National Trust and Savings\nAssociation in San Francisco and the paying agent is Bankers\nTrust Co, New York.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 18:12:37.04",
    "places": [
      "usa"
    ],
    "id": "1402"
  },
  {
    "title": "PENNWALT  OFFERS ONE MLN SHARES",
    "body": "Pennwalt Corp said it offered one\nmln shares of common stock at 63.25 dlrs a share.\n    Pennwalt said it plans to use the net proceeds of the\npublic offering, which is managed by Goldman, Sachs and Co, to\nbuy all the outstanding shares of its Third Series cumulative\nconvertible preferred stock for about 140 mln dlrs.\n    Goldman, Sachs was granted an over-allotment option of\n150,000 shares, the company added.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 18:12:43.09",
    "places": [
      "usa"
    ],
    "id": "1403"
  },
  {
    "title": " SIX MTHS DEC 31 NET",
    "body": "Shr four cts vs three cts\n    Net 4,505,000 vs 4,493,000\n    Revs 23.3 mln vs 21.4 mln\n Reuter\n\u0003",
    "date": " 3-MAR-1987 18:12:48.09",
    "topics": [
      "earn"
    ],
    "places": [
      "canada"
    ],
    "id": "1404"
  },
  {
    "title": "CBT TRADERS LOOK AHEAD TO SPRING PLANTINGS",
    "body": "Chicago Board of trade grain traders and\nanalysts voiced a lot of interest in how farmers planned to\nhandle their upcoming spring plantings, prompting sales of new\ncrop months of corn and oats and purchases in new crop soybeans\nin the futures markets.\n    Professionals in the grains trade think that farmers will\nbe more willing to stick with corn acres than soybeans because\ncorn is protected by the acreage reduction program. That gives\ndeficiency payments to farmers if corn prices stay low.\n    Farmers can place soybeans under the loan program if they\nsign-up for reduced acreage, but they have no price guarantees.\n    With the price outlook for both commodities so dismal,\ntraders believe farmers will want to stick with a sure thing\nrather than gamble on soybeans, even though the new crop\nsoybean/corn ratio of 2.9/1 would make planting soybeans more\nattractive under normal circumstances.\n    An announcement late Friday that the USDA will lift the\nlimited cross-compliance requirement for the 1987 oats crop,\nmeans farmers will be able plant an estimated two to three mln\nmore oat acres this year than last without being penalized,\ntraders said.\n    Here too, acres some farmers may have been thinking of\nshifting to soybeans will now be planted with oats, due to the\nmore attractive deal from the government, they added.\n    Cotton prices are almost twice what they were just six\nmonths ago, which should prompt many farmers in the South to\nput soybean land back into cotton.\n    One of the reasons for the steady increase in soybean\nproduction in recent years has been a general shift of acres in\ntraditional cotton producing regions of the South to soybeans,\nwhich are easier to grow, one commercial trader said.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 18:17:38.58",
    "topics": [
      "grain",
      "cotton",
      "wheat",
      "oat",
      "oilseed",
      "soybean"
    ],
    "places": [
      "usa"
    ],
    "id": "1405"
  },
  {
    "title": "U.S. CONGRESS TO LOOK AT SOIL PROGRAM EXEMPTIONS",
    "body": "The Senate Agriculture Committee is\nexpected to take up a bill tomorrow that would exempt from\ngovernment conservation regulations those farmers who have\nrotated alfalfa and other multiyear grasses and legumes with\nrow crops, committee staff said.\n    Under current so-called \"sodbuster\" law, farmers who planted\nalfalfa and other multiyear grasses and legumes on highly\nerodible land in the years 1981 through 1985 lose federal farm\nprogram benefits if they produce a row crop on that land in\nlater years.\n    Sen. Edward Zorinsky (D-Neb.), sponsor of the measure, said\nrecently that those crop rotating practices resulted in less\nerosion than the practices of many farmers who produced\nstrictly row crops.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 18:18:56.00",
    "topics": [
      "grain"
    ],
    "places": [
      "usa"
    ],
    "id": "1406"
  },
  {
    "title": "NATIONAL PORK BOARD ALLOCATES 2.4 MLN DLRS",
    "body": "The National Pork Board on Monday\nallocated 2.4 mln dlrs in discretionary funds, collected from\nthe 100 pct national checkoff program, to three industry\norganizations.\n    The National Pork Producers Council, NPPC, will receive\nalmost 1.8 mln dlrs for use in the areas of food service,\nconsumer education and marketing. In addition the board\nallocated 375,000 dlrs in use in \"Pork - The Other White Meat\"\ncampaign, according to a Pork Board spokesperson.\n    The National Livestock and Meat Board will receive 644,000\ndlrs to continue work in educating health care officials.\n120,000 dlrs in matching funds will be provided to the meat\nboard for use in the development of a better market for\nprocessed meats.\n    The Meat Export Federation was awarded 50,000 dlrs to\nincrease the market for chilled and processed U.S. pork in\nJapan and Singapore. Retail stores in these two countries will\nbe providing additional funding for the program.\n    A total of 5,000 dlrs for work in encouraging McDonalds to\nexpand its McRib sandwich to Japan and Singapore was also\nawarded to the Meat export Federation.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 18:23:10.82",
    "topics": [
      "carcass"
    ],
    "places": [
      "usa"
    ],
    "id": "1407"
  },
  {
    "title": "GM  BUYBACK SEEN CALMING SHAREHOLDERS",
    "body": "Wall Street analysts said a share\nrepurchase program announced by General Motors Corp is in part\nan attempt to placate shareholders angry over the recent\nrepurchase of shares from Texan H. Ross Perot last year.\n    \"He (Perot) was obviously the big trigger\" said analyst\nJoseph Phillippi of E.F. Hutton Co. \"There was a firestorm of\ncriticism from people on the institutional side.\"\n    Wall Street analysts said the GM buyback will boost the\nshares in the near term but some had reservations about the\nlong term effects of the plan.\n    \"They're trying to soothe irate shareholders irriated by\nthe buyout of Ross Perot,\" said analyst David Healy of Drexel\nBurnham Lambert Inc.\n    Healy said General Motors chairman Roger Smith had been\nhinting at a buyback program in meetings with institutional\ninvestors. He said the plan, which could cost more than five\nbillion dlrs over four years, was similar in size to Ford Motor\nCo's  repurchase program but smaller on a percentage basis\nthan that of Chrysler Corp .\n    Healy said General Motors will have to borrow money to buy\nback stock on a large scale.\n    The General Motors plan, announced after a board of\ndirectors meeting in New York, calls for repurchase of up to 20\npct of the common stock by the end of 1990.\n    The GM board also authorized repurchase of up to five mln\nclass E  and class H  shares. GM shares closed at\n75-5/8, up 7/8, in composite trading prior to the company's\nannouncement. However subsequently Jefferies and Co, which\ntrades NYSE-listed issues outside regular hours, said it was\nmaking a market in the shares at 77-1/2 to 78.\n    \"The stock is obviously going to be strong tomorrow,\" said\nRonald Glantz, analyst at Montgomery Securities.\n    \"I don't know where the money (for the buyback) is coming\nfrom unless they borrow,\" Glantz said. \"Their credit rating is\ngoing to fall.\" GM said it anticipates a decrease in automotive\ncapital spending.\n    Glantz believes GM could be inviting a strike this fall by\ngoing ahead with the buyback program at a time when it has\n37,000 employees on indefinite layoff and 11 plants marked for\nclosing. After deciding against a profit sharing bonus for\nworkers and buying out Perot for 743 mln dlrs \"this will be\nseen as rubbing salt into the wound,\" Glantz said. \"GM must be\nchallenging the union to make it the strike target.\"\n    Glantz said he is not changing his buy recommendation on GM\nand expects the shares to rise. But he said he did not think\nthe overall plan was \"prudent.\"\n    \"Obviously we're going to get at least an opening gap in\nthe stock tomorrow,\" Hutton's Phillippi said.\n    He says GM apparently believes as a result of a cost\nreduction program plus the falloff in capital spending levels\n\"they can handle a stock buyback of this magnitude within the\nconfines of their cash flow.\" Phillippi, who has been telling\nclients to hold GM shares mainly for income, said on balance\n\"we've got to feel they're doing something constructive.\"\n Reuter\n\u0003",
    "date": " 3-MAR-1987 18:23:56.61",
    "places": [
      "usa"
    ],
    "id": "1408"
  },
  {
    "title": "NIPPON STEEL INVESTS 8 MLN DLRS IN GTX CORP",
    "body": "GTX Corp said Nippon Steel Co of Japan,\nin a move to diversify into high technology, invested eight mln\ndlrs in GTX.\n    Nippon's move was the result of current exchange rates and\nthe revaluation of the yen, which \"have made the U.S.\nelectronics industry an attractive investment opportunity for\nJapanese corporations,\" according to a GTX statement.\n    GTX noted that Nippon is expecting sales of 27 billion dlrs\nby 1995. Of that amount, six billion dlrs is targeted for\nelectronics. GTX, located in Phoenix, makes computerized\nsystems that read drawings and transfer them into data bases.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 18:25:53.86",
    "topics": [
      "acq"
    ],
    "places": [
      "usa",
      "japan"
    ],
    "id": "1409"
  },
  {
    "title": "IRAQ REPORTS IRAN ATTACK REPULSED EAST OF BASRA",
    "body": "Iraq said its troops repelled an\novernight Iranian attack east of the southern port city of\nBasra, scene of several Iranian Gulf war thrusts in the past\ntwo months.\n    A high command communique said \"the attackers were met by\nheavy barrages of artillery, tank and mortar fire with the\nsupport of helicopter gunship raids.\"\n    Iran said it had made fresh gains in the attack southwest\nof the man-made Fish lake, some 10 km (six miles) from Basra.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 18:27:08.58",
    "places": [
      "iran",
      "iraq"
    ],
    "id": "1410"
  },
  {
    "title": "FBI DIRECTOR WILLIAM WEBSTER NOMINATED TO HEAD CIA, WHITE HOUSE ANNOUNCES\n",
    "date": " 3-MAR-1987 18:27:36.86",
    "id": "1411"
  },
  {
    "title": "C.T.C. DEALER EXTENDS BID FOR CANADIAN TIRE",
    "body": "C.T.C. Dealer Holdings Ltd said it\nextended its previously announced offer for 49 pct of  to midnight on March 26.\n    CTC, a group of Canadian Tire dealers, which already owns\n17 pct of Canadian Tire, is currently appealing in an Ontario\ncourt against a previously announced Ontario Securities\nCommission ruling blocking CTC's 272 mln dlr bid.\n    The blocked bid did not include non-voting shareholders,\nwho hold 96 pct of Canadian Tire equity.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 18:34:50.92",
    "topics": [
      "acq"
    ],
    "places": [
      "canada"
    ],
    "id": "1412"
  },
  {
    "title": "REAGAN NOMINATES FBI DIRECTOR TO HEAD CIA",
    "body": "President Reagan nominated Federal\nBureau of Investigation Director William Webster to be director\nof the Central Intelligence Agency (CIA), in succession to\nailing William Casey.\n    The announcement came one day after Reagan withdrew the\nnomination of Deputy CIA Dirctor Robert Gates, who faced\nopposition in the Senate because of the CIA's role in the\nIran-contra scandal.\n    \"Bill Webster will bring a remarkable depth and breadth of\nexperience as well as a remarkable record of achievement to\nthis position,\" said Reagan in a statement read by White House\nspokesman Marlin Fitzwater.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 18:37:30.54",
    "places": [
      "usa"
    ],
    "id": "1413"
  },
  {
    "title": "ROCKWELL  SEES IMPROVEMENT IN 1987",
    "body": "Rockwell International Corp\ncontinues to expect significant improvement in 1987 results,\ndespite the somewhate disappointing performance of one of its\nbusiness segments, President Donald Beall told Reuters.\n    Rockwell reported net earnings in its first quarter ended\nDecember 31 of 149.4 mln dlrs, or 1.05 dlrs per share, compared\nto 125.8 mln dlrs, or 84 cts per share a year ago.\n    Operating earnings, however, were off about four pct, and\nanalysts have attributed the decline to Rockwell's\nAllen-Bradley unit, which has suffered from weakness in the\nindustrial automation market.\n    \"It is in a soft market now, but we are not concerned. It\nis moving forward with market development and is enhancing\nmarket share,\" Beall said of Allen-Bradley unit.\n    Beall, who was in Los Angeles to address a Technology\nmanagement conference, said first quarter sales for the\nAllen-Bradley unit were flat as compared to a year earlier. He\nsaid the company does not break out operating earnings by unit\non a quarterly basis.\n    Beall said the recent trend toward cost sharing in the\nresearch and development phase of government contracts should\nnot have a major impact on Rockwell's near-term performance.\n    He noted, however, the increasing focus on cost sharing\ncould limit technological innovation.\n    \"I worry that we are heading into a period of misuse of\ncontracting approaches too early in the development stages of\nimportant military contracts,\" Beall said, adding, \"long-term,\nwe have a very serious problem.\"\n    In addition, Beall told the conference the greatest\ncompetitive threat to defense contractors is in defense\nelectronics, due to the government's attempt to take advantage\nof competitively priced products made outside the U.S.\n Reuter\n\u0003",
    "date": " 3-MAR-1987 18:42:50.14",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1414"
  },
  {
    "title": "INTERMARK  PLANS REFINANCING",
    "body": "Intermark Inc said it plans to\noffer 40 mln dlrs in new debt to finance the repurchase of\nhigh-interest notes and that it agreed to sell two units.\n    The company said it filed a registration statement with the\nSecurities and Exchange Commission to sell 40 mln dlrs of\nconvertible suborindated debentures due 2007.\n    It said proceeds from the offering, to be managed by Drexel\nBurnham Lambert Inc, will be used to redeem all 20 mln dlrs\nface amount of its 11-7/8 pct senior subordinated debentures\nand to buy back some of its 13.20 pct senior notes.\n More\n\u0003",
    "date": " 3-MAR-1987 18:52:41.42",
    "places": [
      "usa"
    ],
    "id": "1415"
  },
  {
    "title": "REAGAN SEEKS MORE AID FOR CENTRAL AMERICA",
    "body": "President Reagan, seeking to salvage\nhis Central America policy from the Iran arms scandal, said a\nmajor U.S. economic program for the region was working but\nneeded 500 mln dlrs more than originally planned.\n    In a report to Congress, he called for immediate approval\nof 300 mln dlrs in new 1987 economic aid for four Central\nAmerican democracies and eventual full-funding of a total\neconomic program costing 8.9 billion dlrs through 1992.\n    The report, mandated by Congress, explains how the\nadministration intends to carry out the recommendations of the\nReagan-appointed Kissinger Commission, which in 1984 developed\na blueprint for U.S. policy in the region that was meant to\noffset Reagan's military aid program for Nicaraguan rebels.\n    The commission, headed by former Secretary of State Henry\nKissinger, had proposed a 8.4 billion dlr program through 1989.\n    \"The Soviet Union and its allies have provided the\nSandinista regime military hardware and sufficient economic aid\nto keep Nicaragua's failed economy afloat,\" Reagan said.\n    Assistant Secretary of State Elliott Abrams, who briefed\nreporters, said the administration will not try to link\napproval of military aid for the rebels, known as contras, with\nthe vastly more popular economic package for the region, as\nsome Republican leaders in Congress have suggested.\n    He also expressed optimism that despite the Iran-contra\nscandal, Congress would approve this year's final 40 mln dlr\nallotment in military aid for the rebels, who are fighting\nManagua's leftist Sandinista government.\n    Abrams admitted the administration would have its toughest\nfight in the Democratic-controlled House, but said he believed\na majority of the Senate -- led by Democrats for the first time\nin six years -- would back the military request.\n   \n Reuter\n\u0003",
    "date": " 3-MAR-1987 18:54:57.93",
    "places": [
      "usa",
      "nicaragua"
    ],
    "id": "1416"
  },
  {
    "title": "GENERAL ELECTRIC  SELLS NOTES AT SEVEN PCT",
    "body": "General Electric Co is raising 250 mln\ndlrs via an offering of notes due 1992 with a seven pct coupon\nand par pricing, said lead manager Kidder, Peabody and Co Inc.\n    That is 30 basis points more than the yield of comparable\nTreasury securities. Non-callable for life, the issue is rated\na top-flight AAA by Moody's and Standard and Poor's.\n  \n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:30:09.86",
    "places": [
      "usa"
    ],
    "id": "1417"
  },
  {
    "title": "MEMORY METALS INC  GETS NASA CONTRACT",
    "body": "Memory Metals Inc said it\nreceived a contract from the National Aeronautics and Space\nAdministration to research and develop joints and couplings\nusing special alloys.\n    The company said the two-year contract, worth 500,000 dlrs,\ncalls for Memory to study the joints and couplings for advanced\ncomposite materials, which are strong and light, but difficult\nto join reliably.\n    It said the alloys are trained to remember and take on a\npredetermined shape and selected temperaturers.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:30:27.05",
    "places": [
      "usa"
    ],
    "id": "1418"
  },
  {
    "title": "HOME AND CITY  TO FORM HOLDING COMPANY",
    "body": "Home and City Savings Bank said its\nboard has approved formation of a holding company called Home\nand City Bancorp Inc, subject to approval by shareholders at a\nspecial meeting expected to be held around June and to\nregulatory approvals.\n    The company said shareholders will be ased to exchange\ntheir Home and City Savings sharesd for an equal number of\nshares in the holding company.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:30:38.71",
    "places": [
      "usa"
    ],
    "id": "1419"
  },
  {
    "title": "MICKELBERRY CORP  SETS QTLY PAYOUT",
    "body": "Qtly div 1-1/2 cts vs 1-1/2 cts prior\n    Pay March 31\n    Record March 13\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:30:42.87",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1420"
  },
  {
    "title": "SWAP DEALERS UNVEIL STANDARD CONTRACT",
    "body": "The International Swap Dealers\nAssociation has developed the first standard form contract for\nuse by arrangers of currency and interest rate swap\ntransactions, said Thomas Jasper, the Association's\nco-chairman.\n    The contract, unveiled at a press conference , is expected\nto make the 300 billion dlr a year swap market more efficient,\nhe said. \"The contracts wil accelerate the process and reduce\nthe expense of swap documentation,\" Japsper said.\n    Privately, eurobond traders estimate that about 80 pct of\nall new issues eventually become part of either an interest\nrate or currency swap.\n    An interest rate swap occurs when two issuers, usually\nacting through a bank middleman, agree to accept each other's\ninterest payments on debt securities. Usually, the issuer of a\nfloating rate debt security swaps into fixed-rate debt and vice\nversa. But the obligation for repayment of the debt remains\nwith the original borrower.\n    Bank regulators have become concerned about the use of\nswaps because the middleman, usually a bank, takes on some\nportion of the risk but is not required to show it on the\nbalance sheet as a liability and may not have sufficient\ncapital to cushion it.\n    Kenneth McCormick, a co-chairman of the ISDA and president\nof Kleinwort Benson Cross Financing Inc, said the Bank of\nEngland and the U.S. Federal Reserve Board were expected later\ntoday to announce joint proposals for setting minimum capital\nstandards for counterparties in swaps.\n    The standards are part of the recently announced\nconvergence agreement between the two countries in which\nregulators have attempted to set similar capital requirements\nfor institutions.\n    McCormick told reporters the ISDA was concerned that a\n\"level playing field\" be maintained in the swaps market.\n    He said if U.K. And U.S. Banks were required to hold more\nprimary capital against swap transactions than is the current\npractice, the additional costs would have to be passed on to\nissuers.\n    The issuers might then choose to do business with\nlower-cost banks which are not subject to U.S. Or U.K. Banking\nrules.\n    He said the ISDA had been working on a code of conduct for\nswap dealers as part of its self-regulatory effort.\n    That code should be completed within the next few weeks, he\nsaid.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 09:30:50.97",
    "topics": [
      "money-fx",
      "interest"
    ],
    "places": [
      "uk",
      "usa"
    ],
    "id": "1421"
  },
  {
    "title": "COMPUGRAPHIC CORP  IN JOINT VENTURE",
    "body": "Compugraphic Corp said it entered\ninto an exclusive distribution and technology exchange pact\nwith .\n    Compugraphic said the pact calls for it to distribute\nAutographix products to corporate and government markets in\nNorth America. It said Autographix will continue to sell its\nproducts to the commerical slide production market.\n    The technology exchange includes joint development projects\nintergrating Compugraphic's type and text technology with\nAutographix' presentation graphics workstations.\n\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:31:10.66",
    "places": [
      "usa"
    ],
    "id": "1422"
  },
  {
    "title": "USAIR  FEBRUARY LOAD FACTOR RISES",
    "body": "USAir Group Inc said its February\nload factor rose to 62.2 pct from 56.9 pct a year ago.\n    Revenue passenger miles grew 24.1 pct in February to 923.2\nmln from 743.8 mln and 18.5 pct year to date to 1.80 billion\nfrom 1.52 billion, the company said.\n    Available seat miles rose 13.5 pct in February to 1.48\nbillion from 1.31 billion and 9.6 pct in the two months to 3.06\nbillion from 2.79 billion.\n    The percentage of seats filled in the two months rose to\n58.9 pct from 54.4 pct in the year-ago period, it said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:31:28.88",
    "places": [
      "usa"
    ],
    "id": "1423"
  },
  {
    "title": "HOKKAIDO BANK ISSUES 30 MLN DLR CONVERTIBLE BOND",
    "body": "The Hokkaido Bank Ltd is issuing a 30 mln\ndlr convertible eurobond due March 31, 2002 with an indicated\n2-1/4 pct coupon and priced at par, lead manager Nomura\nInternational Ltd said.\n    Terms will be fixed on March 10, involving a premium of\nabout five pct above a six-day average. The conversion period\nwill run from April 20, 1987 to March 20, 2002.\n    The bonds will be sold in denominations of 5,000 dlrs and\nwill be listed in Luxembourg. Total fees of 2-1/2 pct include\none pct for management and underwriting and 1-1/2 pct for\nselling, including an 20 basis point praecipuum.\n    Nomura said the bonds are callable from March 31, 1990 at\n104, declining by 1/2 pct per annum.\n    There will be no calls before March 31, 1992 unless the\nshare price reaches at least 150 pct of the conversion price.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 09:33:25.06",
    "places": [
      "japan"
    ],
    "id": "1424"
  },
  {
    "title": "METROPOLITAN FEDERAL  TO MAKE ACQUISITION",
    "body": "Metropolitan Federal Savings\nand Loan Association said it has signed a letter of intent to\nacquire American Trust of Hendersonville, Tenn., for an\nundisclosed amount of cash.\n    American Trust had year-end assets of over 40 mln dlrs.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:33:47.25",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1425"
  },
  {
    "title": "MICOM SYSTEMS  ENHANCES MULTIPLEXOR",
    "body": "Micom Systems Inc said it\nhas doubled the data transmission range and speed of its\nInstalink460 voice/data multiplexor.\n    The company said the unit now transmits data up to 23,000\nfeet at up to 19,200 bits per second and provides synchronous\nor asynchronous transmission in a single unit.\n    Prices for terminal units begin at 195 dlrs and central\nunits at 750 dlrs, it added.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:33:53.87",
    "places": [
      "usa"
    ],
    "id": "1426"
  },
  {
    "title": "GM'S  PONTIAC HAS INTEREST RATE INCENTIVES",
    "body": "General Motors Corp said its\nPontiac Division has established an interest rate support\nincentive program, effective immediately, as an alternative to\nits current option bonus program.\n    The company said qualified buyers of Pontiacs may now\nselect special finance rates of 3.9 pct on 24-month contracts,\n7.9 pct on 36-month contracts, 8.9 pct on 48-mopnth contracts\nor 9.9 pct on 60-month contracts.  The program is scheduled to\nexpire April 30.\n    Under the option bonus program, which is also scheduled to\nexpire April 30, buyers receive cash bonuses on the purchase of\nPontiacs equipped with option group packages, with the amount\ndepending on the option level on each vehicle.\n    The company said the special interst rate program applies\nto ann new 1986 and 1987 Pontiacs sold from dealer stock and\ndelivered to customers during the program period.  A customer\nmay choose only one program, it said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:36:11.28",
    "topics": [
      "interest"
    ],
    "places": [
      "usa"
    ],
    "id": "1427"
  },
  {
    "title": " 4TH QTR LOSS",
    "body": "Shr not given\n    Oper loss 5,900,000 vs profit 9,300,000\n    Revs 105.3 mln vs 131.2 mln\n    Year\n    Shr not given\n    Oper loss 21.7 mln vs profit 34.7 mln\n    Revs 370.7 mln vs 515.1 mln\n    Note: 67 pct owned by \n    Note continued: 1986 qtr excludes extraordinary loss of 3.6\nmln dlrs versus loss of 294.0 mln dlrs in prior year\n    1986 year excludes extraordinary loss of 79.1 mln dlrs\nversus loss 221.5 mln dlrs in prior year\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:36:19.44",
    "topics": [
      "earn"
    ],
    "places": [
      "canada"
    ],
    "id": "1428"
  },
  {
    "title": "DOW CHEMICAL  TO SELL SOUTH AFRICAN UNIT",
    "body": "Dow Chemical Co said it has\nagreed in principle to sell its industrial chemicals and\nplastics business interests in South Africa and related assets\nto a group of South African investors for undisclosed terms,\ncompleting the sale of the company's South African assets\n    Dow said it will continue to support its educational and\nhealth programs for South African blacks.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:36:43.89",
    "topics": [
      "acq"
    ],
    "places": [
      "usa",
      "south-africa"
    ],
    "id": "1429"
  },
  {
    "title": " REPORTS SALES ON STERLINGS",
    "body": "Great Britain's Austin Rover Group\nreported the sale of 1,043 Sterling automobiles during the\nsecond half of February, the first month in which the European\nluxury car was on sale.\n    The company said the Sterling 825S sells for 19,000 dlrs\nand the Sterling 825SL sells for 23,900 dlrs, and are aimed at\nthe European luxury sedan market.\n    The Sterling was designed in a joint venture with Honda\nMotor Corp . The Rover Group was the former British Leland\nPLC company, according to the company.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:41:57.41",
    "id": "1430"
  },
  {
    "title": "PITNEY BOWES  UNIT SELLS FIVE-YEAR NOTES",
    "body": "Pitney Bowes Credit Corp, a unit of\nPitney Bowes Inc, is raising 100 mln dlrs through an offering\nof notes due 1992 with a 7-1/4 pct coupon and par pricing, said\nlead manager Goldman, Sachs and Co.\n    That is 53 basis points more than the yield of comparable\nTreasury securities.\n    Non-callable to maturity, the issue is rated A-1 by Moody's\nand AA-minus by Standard and Poor's. First Boston Corp\nco-managed the deal.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:42:05.68",
    "places": [
      "usa"
    ],
    "id": "1431"
  },
  {
    "title": "SYSTEMED  INSTALLS PHARMACY SYSTEM",
    "body": "SysteMed Inc said it has sold\na Pharmacy Module to 998-bed Memorial Medical Center of Long\nBeach, Calif.\n    Pharmacy Module is a computerized drug information system.\n    Value was not disclosed.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:42:10.08",
    "places": [
      "usa"
    ],
    "id": "1432"
  },
  {
    "title": "WILLIAMS COS  YEAR LOSS",
    "body": "Shr loss 6.97 dlrs vs profit 92 cts\n    Net loss 240 mln vs profit 31.6 mln\n    Revs 1.9 billion vs 2.5 billion\n    NOTE: 1986 includes loss of 250 mln dlrs or 7.27 dlrs a\nshare from discontinued operations and writedowns of holdings\nin Texasgulf Inc. 1985 restated.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:42:31.22",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1433"
  },
  {
    "title": "GEONEX SEES SALES HURT BY PRODUCTION SHIFT",
    "body": "Geonex Corp  said\nBellSouth Corp  unit Southern Bell Telephone and Telegraph\nCo's decision to postpone the start up of new conversion\nassignments at Geonex's Chicago Aerial Survey unit could\nnegatively affect its fiscal 1987 revenues.\n    The company said it had expected higher revenues from the\nrecords conversion work, but it now foresees revenues from\nSouthern Bell work at about eight mln dlrs, the same level as\nlast fiscal year.\n    Geonex said Southern Bell will let CAS continue work in\nprogress and it expects to perform mechanized posting and\nrecords conversion for Southern Bell through 1989.\n    But, it added that the Southern Bell decision has forced it\nto pursue opportunities with other telephone companies and\nmunicipalities to replace the Southern Bell work.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:43:35.73",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1434"
  },
  {
    "title": "NWA INC 4TH QTR SHR PROFIT 45 CTS VS LOSS NINE CTS\n",
    "date": " 4-MAR-1987 09:45:31.48",
    "topics": [
      "earn"
    ],
    "id": "1435"
  },
  {
    "title": " UK INTERVENTION BD SAYS EC SOLD 60,500 TONNES WHITE SUGAR AT REBATE 43.147 ECUS.\n",
    "date": " 4-MAR-1987 09:47:48.74",
    "topics": [
      "sugar"
    ],
    "id": "1436"
  },
  {
    "title": "AMERICAN MOTORS AGREES TO RESUME WISCONSIN LABOR TALKS\n",
    "date": " 4-MAR-1987 09:48:36.17",
    "id": "1437"
  },
  {
    "title": "(CRIME CONTROL INC) 4TH QTR NET LOSS",
    "body": "Shr loss 2.03 dlrs vs loss 85 cts\n    Net loss 10,742,113 vs loss 3,700,712\n    Revs 8,027,065 vs 8,689,008\n    Avg shrs 5.3 mln vs 4.4 mln\n    Year\n    Shr loss 2.45 dlrs vs loss 1.73 dlrs\n    Net loss 11,607,104 vs loss 7,442,825\n    Revs 32.6 mln vs 33.2 mln\n    Avg shrs 4.7 mln vs 4.3 mln\n    NOTE: 1986 net loss includes a fourth quarter charge of\n10.5 mln dlrs from writeoffs of certain assets.\n    1985 net loss includes a charge of about 2.3 mln dlrs from\nsettlement of class action lawsuit.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:48:58.72",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1438"
  },
  {
    "title": "ANDRIESSEN HAILS EC MILK PACT, PROMISES FARM AID",
    "body": "European Community Farm Commissioner\nFrans Andriessen welcomed the agreement on details of dairy\noutput cuts over two years and promised new measures to help\nfarmers hurt by the drive to reduce EC surpluses.\n    \"We are now in a favourable position to improve the\nsituation in the dairy sector,\" he told a news conference.\n    The Commission will be able to proceed with a 3.2 billion\nEuropean Currency Unit plan to dispose of over a mln tonnes of\nbutter in EC stores, as the deal should prevent major new\nstocks from accruing.\n    A preliminary accord on the dairy package was reached in\nDecember, but approval was held up by a row over Commission\nproposals that it be given power to suspend sales of surplus\nstocks into store.\n    After 36 hours of negotiations, ministers agreed detailed\nrules for such a suspension, allowing it only when new public\nstocks of butter exceed 180,000 tonnes and when market prices\nwere sharply below those paid for sales into EC stores.\n    Andriessen said the accord improves the atmosphere for what\nhe said are bound to be tough discussions on his proposals for\ncuts in EC farm price cuts, notably in cereals, in the coming\nseason.\n    The ministers also approved a three-year 350 mln Ecu\npackage of measures to help farmers in difficulty and pay\ncompensation to those who opt for less intensive production\nmethods. Andriessen said he regretted ministerial objections\nhad forced him to withdraw sections of this package, for which\nhe had originally earmarked 1.3 billion Ecus over five years.\n    He said he would revise and resubmit plans to allow older\nfarmers to take early retirement, either taking their land out\nof agricultural production or passing it to successors.\n    The Commission is also working on proposals to enable the\nEC and member states to provide direct income supports to\nhard-pressed small farmers. Andriessen said he could not give\nfull details, but member state aid would be subject to \"strict\ncriteria to avoid distortion of competition.\"\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:49:12.92",
    "organisations": [
      "ec"
    ],
    "places": [
      "belgium"
    ],
    "id": "1439"
  },
  {
    "title": "U.K. INTERVENTION BOARD DETAILS EC SUGAR SALES",
    "body": "A total 60,500 tonnes of current series\nwhite sugar received export rebates of a maximum 43.147\nEuropean Currency Units (Ecus) per 100 kilos at today's\nEuropean Community (EC) tender, the U.K. Intervention Board\nsaid.\n    Out of this, traders in the U.K. Received 43,500 tonnes, in\nthe Netherlands 12,000, in Denmark 4,000 and in West Germany\n1,000 tonnes.\n    Earlier today, London and Paris traders said they expected\nthe subsidy for the current season whites campaign for licences\nto end-July to be between 43.00 and 43.45 Ecus per 100 kilos.\n    They had also forecast today's total authorised sugar\ntonnage export awards to be between 60,000 and 80,000 tonnes\nversus 103,000 last week when the restitution was 43.699 Ecus.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 09:51:38.24",
    "topics": [
      "sugar"
    ],
    "organisations": [
      "ec"
    ],
    "places": [
      "uk",
      "netherlands",
      "denmark",
      "west-germany"
    ],
    "id": "1440"
  },
  {
    "title": "IRAN ANNOUNCES NEW OFFENSIVE IN GULF WAR",
    "body": "Iran announced it had launched a new\noffensive against Iraq in the north-west area of the Gulf war\nfront.\n    Tehran radio, monitored by the British Broadcasting\nCorporation, said the attack was launched last night in the Haj\nOmran area of northern Iraq.\n    It had already achieved \"considerable victories,\" the radio\nsaid.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 09:51:47.01",
    "places": [
      "iran",
      "iraq",
      "uk"
    ],
    "id": "1441"
  },
  {
    "title": "SINGAPORE TAX PACKAGE INTRODUCED TO AID ECONOMY",
    "body": "Singapore Finance Minister Richard Hu\nin his budge speech introduced a tax package he said aims at\nconsolidating economic recovery.\n    He imposed higher taxes on tobacco and liquor but\nintroduced tax incentives to promote population growth and\noffshore services. In order to further accelerate development\nof the capital market and fund management activities, from the\nyear of assessment 1988 income earned by Asian Currency Units\nand securities companies approved by the Monetary Authority of\nSingapore will be taxed at a concessionary rate of 10 pct.\n    He said interest paid by Simex members to non-residents in\nrespect of transactions in the deferred gold market will be\nexempt from withholding tax. This will make Singapore a more\nattractive place to carry out such transactions, he added.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:52:13.08",
    "places": [
      "singapore"
    ],
    "id": "1442"
  },
  {
    "title": "ITALIAN TREASURY TO ISSUE NEW CERTIFICATES",
    "body": "The Italian treasury said it will issue\n3,000 billion lire of a new type of indexed government paper,\ndiscount certificates (CTS), on March 18.\n    Treasury Minister Giovanni Goria said at a news conference\nthe new certificates will be heavily discounted and aimed at\nsmall investors rather than institutions.\n    The Treasury said in a statement the annual yield of the\nseven-year certificates will be indexed to 50 pct of the annual\nyield of 12-month treasury bills.\n    Effective annual yield after tax for the first CTS issue\nwill be 9.66 pct. \"The launch of the new certificate has to be\nviewed in the framework of the management of the public debt as\na step towards the return of a larger volume of fixed-rate\nissues,\" the Treasury said.\n    The Treasury said future CTS issues likely would be\ncertificates longer than seven years. CTS automatically offers\na portfolio diversification between fixed-rate and\nvariable-rate investments.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 09:53:36.72",
    "places": [
      "italy"
    ],
    "id": "1443"
  },
  {
    "title": "JAPAN FIRM DEVELOPS ULTRA HEAT-RESISTING RUBBER",
    "body": "Shin-Etsu Chemical Co Ltd said it had\ndeveloped an ultra thermal resistance rubber which can be used\nat 250 centigrade continuously without losing its properties.\n    Shin-Etsu put potential demand for the product at two\ntonnes a month mainly for microwave ovens and as a sealant.\n    But increasing use of the product in parts attached to car\nengines will raise demand and the company will boost output to\n10 tonnes by March 1988 from two now, he said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:53:54.04",
    "topics": [
      "rubber"
    ],
    "places": [
      "japan"
    ],
    "id": "1444"
  },
  {
    "title": "CASTLE AND COOKE INC  4TH QTR LOSS",
    "body": "Shr loss 76 cts vs loss 21 cts\n    Net loss 31.9 mln vs loss 3,288,000\n    Revs 380.2 mln vs 311.5 mln\n    Avg shrs 47.1 mln vs 41.2 mln\n    Year\n    Shr profit 56 cts vs profit 56 cts\n    Net profit 43,925,000 vs profit 46,433,000\n    Rev 1.74 billion vs 1.60 billion\n    Avg shares 43,602,000 vs 41,014,000\n    NOTE: Fourth quarter includes after tax loss from\ndiscontinued Flexi-Van operations of 33.9 mln dlrs. Primary\nearnings per share data calculated after deducting preferred\ndividend requirements.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:54:24.71",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1445"
  },
  {
    "title": "VOICEMAIL INTERNATIONAL INC 4TH QTR LOSS",
    "body": "Shr loss 21 cts vs loss 14 cts\n    Net loss 838,069 vs loss 433,875\n    Revs 1,080,068 vs 1,793,398\n    Avg shrs 4,004,826 vs 3,172,537\n    12 mths\n    Shr loss 39 cts vs 11 cts\n    Net loss 1,387,500 vs loss 334,463\n    Revs 6,456,882 vs 5,605,680\n    Avg shrs 3,542,217 vs 3,071,456\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:55:18.27",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1446"
  },
  {
    "title": "JACOBS ENGINEERING  TO REINCORPORATE",
    "body": "Jacobs Engineering group Inc\nsaid its shareholders approved reincorporation of the company\nin Delaware and certain indemnification agreements with\nofficers and directors of the company.\n    Jacobs is incorporated in California.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:55:27.79",
    "places": [
      "usa"
    ],
    "id": "1447"
  },
  {
    "title": "RHODES  FEBRUARY 1987 SALES INCREASE",
    "body": "Rhodes Inc said its February 1987 sales\nwere 16,775,000 dlrs, a 12.2 pct increase over Feb 1986 sales\nof 14,954,000 dlrs.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:55:44.82",
    "places": [
      "usa"
    ],
    "id": "1448"
  },
  {
    "title": "MOLECULAR GENETICS INC  4TH QTR LOSS",
    "body": "Oper shr loss 22 cts vs loss 13 cts\n    Oper net loss 1,712,916 vs loss 769,539\n    Revs 2,292,972 vs 2,157,895\n    Avg shrs 7,961,602 vs 6,200,293\n    Year\n    Oper shr loss 53 cts vs loss 45 cts\n    Oper net loss 3,562,151 vs 2,543,366\n    Revs 9,117,311 vs 8,251,136\n    Avg shrs 7,169,871 vs 6,186,51\n    NOTE: Current year net both periods excludes charge 430,649\ndlrs from cumulative effect of accounting change for patents.\n    1986 net both periods includes charge of about 458,000 dlrs\nfrom severance obligations.\n    1986 year net includes charge 156,000 dlrs from writeoff of\nseed commitments.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:56:01.20",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1449"
  },
  {
    "title": "CYPRESS SEMICONDUCTOR  SHARES OFFERED",
    "body": "Lead underwriters Morgan Stanley Group\nInc  and Robertson, Colman and Stephens said an offering of\n4,400,000 shares of Cypress Semiconductor Corp is underway at\n11.75 dlrs per share.\n    Underwriters have been granted an option to buy up to\n660,000 more shares to cover overallotments.\n    The company is selling 3,080,000 shares and shareholders\nthe rest.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:56:16.11",
    "places": [
      "usa"
    ],
    "id": "1450"
  },
  {
    "title": "PAR PHARMACEUTICAL  SEEKS NYSE LISTING",
    "body": "Par Pharmaceutical Inc said\nit has been cleared by New York Stock Exchange authorities to\napply for NYSE listing and expected to be listed by April or\nMay.\n    The company's stock is now traded on the NASDAQ system.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:56:25.33",
    "places": [
      "usa"
    ],
    "id": "1451"
  },
  {
    "title": "MERRIMAC INDUSTRIES INC  4TH QTR NET",
    "body": "Shr five cts vs 29 cts\n    Net 92,641 vs 466,668\n    Sales 4,448,011 vs 4,122,301\n    Year\n    Shr 34 cts vs 1.16 dlrs\n    Net 553,310 vs 1,864,417\n    Sales 16.3 mln vs 16.7 mln\n Reuter\n\u0003",
    "date": " 4-MAR-1987 09:56:30.09",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1452"
  },
  {
    "title": "GREECE PLANS TO REDUCE 1987 FOREIGN BORROWING",
    "body": "Greece aims to reduce foreign borrowing\nto 1.6 or 1.7 billion dlrs this year from 2.6 billion in 1986,\nand will use some of the funds to make early debt servicing\npayments, the Governor of the Bank of Greece, Dimitris\nHalikias, said.\n    He told reporters this year's borrowing forecast exceeded\nimmediate needs, but Greece wanted to take advantage of low\ninternational interest rates in order to make servicing\npayments at a lower cost.\n    Greece's foreign debts totalled 16.8 billion dlrs at\nend-1986, up from 15.2 billion at end-1985, Halikias said.\n    He said the extra funds available to Greece this year will\ngo towards servicing debts falling due after 1990. He did not\ngive figures.\n    He said Greece was able to cut borrowing because a two-year\nausterity program it adopted in October, 1985 cut its current\naccount deficit to 1.75 billion dlrs last year from a record\n3.3 billion in 1985.\n    Halikias said he was \"fairly optimistic\" Greece would reach a\ncurrent account deficit target of 1.25 billion dlrs this year.\n    He said domestic demand has fallen, reducing the need for\nimports, while Greek exports are becoming more competitive.\n    Economy Ministry figures show exports rose to 4.9 billion\ndlrs in the first 11 months of 1986 from 4.1 billion in the\nsame. 1985 period, while imports dipped to 10.2 billio dlrs\nfrom 11.4 billion.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 10:00:44.74",
    "places": [
      "greece"
    ],
    "id": "1453"
  },
  {
    "title": "U.S. JAN FACTORY ORDERS FELL 4.0 PCT, EXCLUDING DEFENCE ORDERS FELL 5.2 PCT\n",
    "date": " 4-MAR-1987 10:00:54.43",
    "id": "1454"
  },
  {
    "title": "AMERICAN MOTORS  TO RESUME LABOR TALKS",
    "body": "American Motors Corp said it\nis willing to resume negotiations with the United Auto Workers\nas requested by Wisconsin Governor Tommy Thompson.\n    Negotiations began on January 21 on a contract for American\nMotors to build its new ZJ sports Jeep and to assemble Chrysler\nCorp's  Omni and Horizon cars at its Wisconsin plant.\n     The Chrysler cars are being phased out of production at\nthe company's Belvidere, Ill. plant to make room for another\ncar line to be built there.\n    \"While we are willing to follow the governor's lead in\nmaking a final effort to reach an agreement, it must be\nrecognized that for the negotiations to be successful, the\nlocal unions must honor their 1985 commitments,\" American\nMotors president Joseph Cappy said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:02:58.88",
    "places": [
      "usa"
    ],
    "id": "1455"
  },
  {
    "title": "B.C. RESOURCES HAS AGREEMENT ON CREDIT FACILITY",
    "body": ", earlier reporting higher full year\noperating losses, said it reached agreement in principle with\nfive lenders providing for a 360 mln dlr credit facility over a\nfour year term.\n    The company said the credit facility is extendable under\ncertain circumstances, with annual principal payments of five\nmln dlrs. The agreement is subject to certain lender approvals\nand completion of formal documentation.\n    It earlier reported 1986 losses before extraordinary items\nrose to 26.4 mln dlrs from year-ago 7.2 mln dlrs.\n    B.C. Resources also said dividends on its series 2\npreferred shares and exchangeable preferred shares will remain\nsuspended.\n    However, payment will be made on account of the quarterly\ndividend on the exchangeable preferred shares by the company's\ntrustee from a deposit account, B.C. Resources said.\n    Sufficient funds should be available to pay full amount of\nthe March 31, 1987 dividend to exchangeable preferred\nshareholders, with payment expected in early April to\nshareholders of record March 31, the company said.\n    If future dividends are not declared after the April\nexchangeable preferred quarterly payout, future payment will\ndepend on the amount of dividends received from Westcoast\nTransmission Co , B.C. Resources said.\n    The company said its increased fourth quarter and full year\noperating losses primarily resulted from lower oil prices and a\nfour month labor shutdown at its Balmer coal mine in British\nColumbia.\n    B.C. Resources also recorded a 99.9 mln dlr extraordinary\nloss, which included losses on disposition of North Sea oil and\ngas interests by 67 pct owned .\n    B.C. Resources' 1986 extraordinary charge also included a\nwritedown of its investment in Westar Petroleum. Gains on the\nsales of Westar Timber's Skeena and Celgar pulp mills and\nTerrace sawmill partially offset the extraordinary loss, the\ncompany said.\n    The company said the asset sales have eliminated B.C.\nResources' long term financing commitment in the North Sea and\nexposure to the fluctuating pulp market.\n    It also said it cut long term debt in 1986 to 900 mln dlrs\nfrom 1.3 billion dlrs at year-end 1985, and management changes\nand staff cuts have significantly reduced costs.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:04:18.87",
    "topics": [
      "earn"
    ],
    "places": [
      "canada"
    ],
    "id": "1456"
  },
  {
    "title": "U.K. MONEY MARKET GIVEN 85 MLN STG LATE HELP",
    "body": "The Bank of England said it had provided\nthe money market with late assistance of around 85 mln stg.\n    This brings the bank total help so far today to some 87 mln\nstg and compares with its latest forecast of a 250 mln stg\nshortage in the system today.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 10:04:24.06",
    "topics": [
      "money-fx"
    ],
    "places": [
      "uk"
    ],
    "id": "1457"
  },
  {
    "title": "NORTHROP CORP DEFENSE UNIT GETS 469.6 MLN DLRS AIR FORCE CONTRACT\n",
    "date": " 4-MAR-1987 10:06:25.10",
    "id": "1458"
  },
  {
    "title": "U.S. FACTORY ORDERS FELL 4.0 PCT IN JANUARY",
    "body": "New orders for manufactured goods\nfell 8.2 billion dlrs, or 4.0 pct, in January to a seasonally\nadjusted 194.5 billion dlrs, the Commerce Department said.\n    It was the largest one month decrease in orders since a 4.5\npct drop in May, 1980, the department said.\n    Excluding defense orders, factory orders fell 5.2 pct in\nJanuary after a 4.8 pct December rise.\n    The department revised December factory orders upward to an\nincrease of 1.6 pct from 1.2 pct.\n    The new orders decline in January was concentrated in\ndurable goods, where orders fell 7.4 billion dlrs, or 6.7 pct,\nto 103 billion dlrs. The department had estimated on February\n26 that January durable goods orders fell 7.5 pct.\n    Orders for non-durables in January fell 700 mln dlrs, or\n0.8 pct, to 91.5 billion dlrs.\n    These figures compared with a December increase in durables\norders of 1.5 pct and a 1.7 pct rise in non-durables.\n    Defense orders rose 2.2 billion dlrs, or 49.7 pct, in\nJanuary after falling 57.7 pct in December, the department\nsaid.\n    Orders for non-defense capital goods fell 17 pct in January\nafter increasing by 5.7 pct in December.\n    Within major industry categories, orders declines were\nwidespread, the department said.\n    Electrical machinery orders fell 19.8 pct, or 3.6 billion\ndlrs, after a 9.5 pct increase in December.\n    Primary metals orders fell 17.7 pct, or 1.9 billion dlrs,\nfollowing a 12.1 pct increase in December.\n    Orders for transportation equipment were down 4.5 pct in\nJanuary after falling 0.6 pct in December.\n    Orders for non-electrical machinery were down 6.1 pct in\nJanuary after falling by 7.1 pct in December.\n    Manufacturers' shipments fell 3.8 pct, or 7.8 billion dlrs,\nto a total 196.7 billion dlrs. The department said it was the\nlargest one month fall in shipments since a 5.1 pct drop in\nDecember, 1974.\n    Unfilled orders fell 0.6 pct, or 2.2 billion dlrs, to a\ntotal 363 billion dlrs.\n    Factory inventories in January rose 0.5 pct, or 1.5 billion\ndlrs, to 277.0 billion dlrs, only the second rise since July\nand concentrated in finished goods.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:09:15.34",
    "places": [
      "usa"
    ],
    "id": "1459"
  },
  {
    "title": "CML GROUP INC  2ND QTR JAN 31 NET",
    "body": "Shr 72 cts vs 58 cts\n    Net 4,791,000 vs 3,803,000\n    Sales 83.0 mln vs 72.0 mln\n    Avg shrs 6,668,309 vs 6,545,722\n    1st half\n    Shr 88 cts vs 70 cts\n    Net 5,872,000 vs 4,614,000\n    Sales 141.6 mln vs 121.8 mln\n    Avg shrs 6,669,488 vs 6,525,051\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:09:34.47",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1460"
  },
  {
    "title": "DRESS BARN INC  2ND QTR JAN 24 NET",
    "body": "Shr 30 cts vs 21 cts\n    Net 3,358,000 vs 2,276,000\n    Sales 43.3 mln vs 33.5 mln\n    1st half\n    Shr 60 cts vs 42 cts\n    Net 6,654,000 vs 4,638,000\n    Sales 86.6 mln vs 66.4 mln\n    NOTE: Share adjusted for three-for-two stock split in May\n1986.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:10:01.53",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1461"
  },
  {
    "title": "TANDY CORP FEBRUARY SALES UP 12 PCT\n",
    "date": " 4-MAR-1987 10:10:36.81",
    "id": "1462"
  },
  {
    "title": "OCCIDENTAL  SELLS 33 MLN COMMON SHARES",
    "body": "Occidental Petroleum Corp said the size\nof its underwritten offering of common stock was increased to\n33 mln shares from the proposed 30 mln.\n    The company said the offering is being made at 30.50 dlrs a\nshare. It was underwritten by Drexel Burnham Lambert Inc,\nKidder Peabody and Co, and Salomon Inc.\n    Occidental will use the proceeds to reduce its debt. The\ncompany had 165 mln shares outstanding prior to the offering.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:15:07.09",
    "places": [
      "usa"
    ],
    "id": "1463"
  },
  {
    "title": "CANADIAN HOME SHOPPING SALES ABOVE EXPECTATIONS",
    "body": "\nsaid sales of 1,149,339 dlrs from the first six weeks of\noperation by its cable television shop at home service were\nabove the company's expectations by a significant margin.\n    The company said it signed up 14,619 members during the\nperiod and the average purchase per member in February was\n56.99 dlrs.\n    Subscriber penetration rose to 1.7 mln households from 1.5\nmln households, it said.\n    The company began broadcasting its service to more than 100\ncablesystems across Canada on January 15.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:15:31.10",
    "places": [
      "canada"
    ],
    "id": "1464"
  },
  {
    "title": "TENNECO  TO REDEEM 11 DLR PREFERRED",
    "body": "Tenneco Inc said it will redeem all of\nits outstanding 11.00 dlr cumulative preference stock on April\neight at 102.24 dlrs a share including accrued dividends.\n    It said 2,515,400 shares of the stock will be redeemed.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:16:02.51",
    "places": [
      "usa"
    ],
    "id": "1465"
  },
  {
    "title": "WILLIAMS  HAS 4TH QTR CHARGE",
    "body": "Williams Cos said a fourth quarter charge\nof 250 mln dlrs from discontinued operations and writedowns\ncontributed to a 1986 net loss of 240 mln dlrs or 6.97 dlrs a\nshare against earnings of 31.6 mln dlrs or 92 cts in 1985.\n    The loss in the quarter was 232.3 mln dlrs or 6.75 dlrs\nagainst income of 10.7 mln dlrs or 31 cts a year ago. Revenues\nin the quarter fell to 521.1 mln dlrs from 716.9 mln and in the\nyear fell to 1.9 billion dlrs from 2.5 billion in 1985.\n    Williams also said the previously announced sale of its\nAgrico Chemical Co unit to Freeport-Mcmoran Resource Partners\nLtd has cleared antitrust review and should close next week.\n    The 1987 first quarter will include proceeds from the\nAgrico sale, for 250 mln dlrs cash at closing plus deferred\npayments, and proceeds of 320 mln dlrs from the sale of a stake\nin Peabody Holding Co, completed in January.\n    In the 1986 first quarter, Williams reported net of 14.2\nmln dlrs or 41 cts a share on sales of 796.4 mln dlrs.\n    Williams said the charges in the current year were related\nto an ongoing restructuring. The company said the restructuring\nmoves had improved its balance sheet and improved the outlook\nfor future stability and growth in earnings.\n    Operating profit at the company's Northwest Pipeline Corp\nunit fell 4.5 pct to 150 mln dlrs from lower sales. The\nWilliams Natural Gas unit had operating profit of 50.5 mln dlrs\ncompared to 90.9 mln dlrs on lower sales volumes.\n    Profit at Williams Gas Marketing rose to 26 mln dlrs from\nabout 22 mln and the William Pipe Line Co had operating profit\nof 49.4 mln dlrs versus 63.6 mln dlrs a year ago.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:16:28.05",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1466"
  },
  {
    "title": "PERRY DRUG STORES INC  1ST QTR JAN 31 NET",
    "body": "Shr 13 cts vs 37 cts\n    Net 1,300,000 vs 3,700,000\n    Sales 189 mln vs 163 mln\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:16:31.72",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1467"
  },
  {
    "title": "VNESHTORGBANK SEEKS 200 MLN DLR LOAN",
    "body": "Vneshtorgbank, the Soviet foreign trade\nbank, is seeking a 200 mln dlr, eight-year multi-currency\nsyndicated loan, First Chicago Ltd said as arranger and sole\nmandated bank.\n    The loan will pay 1/8 point over London Interbank Offered\nRates (LIBOR) throughout the whole of its life. It will be\nrepayable in semi-annual instalments starting after six years.\n    No further details were immediately available.\n    First Chicago later said that lead managers participating\nin the syndicated loan would receive a flat fee of 35 basis\npoints.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 10:17:03.27",
    "places": [
      "uk",
      "ussr"
    ],
    "id": "1468"
  },
  {
    "title": "NWA INC  4TH QTR NET",
    "body": "Shr profit 45 cts vs loss nine cts\n    Net profit 9.8 mln vs loss two mln\n    Revs 1.15 billion vs 631.2 mln\n    Year\n    Shr profit 3.26 dlrs vs profit 3.18 dlrs\n    Net profit 76.9 mln vs profit 73.1 mln\n    Revs 3.59 billion vs 2.66 billion\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:17:13.95",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1469"
  },
  {
    "title": "EASTERN  ACQUIRES EMHART  PRODUCT LINE",
    "body": "Eastern Co said it purchased the\ntooling, equipment and inventory used to produce the Corbin\nCabinet Lock product line from Emhart Corp for undisclosed\nterms.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:18:25.86",
    "places": [
      "usa"
    ],
    "id": "1470"
  },
  {
    "title": "CAMCO INC  SETS QUARTERLY",
    "body": "Qtly div 11 cts vs 11 cts prior\n    Pay April 14\n    Record March 17\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:19:26.67",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1471"
  },
  {
    "title": "VENEZUELA SETS FOREIGN DEBT TARGETS",
    "body": "Venezuela plans to have a public sector\nforeign debt of 26.5 billion dlrs by early 1989 when the\npresent government of President Jaime Lusinchi ends its term,\npublic finances director Jorge Marcano said.\n    He said the target, which compares with around 24.5 billion\ndlrs now and 29 billion at end 1983, is considered a manageable\namount which will assist in development plans.\n    The government last week reached agreement with its 13-bank\nadvisory committee to reprogramme its 12-1/2 year rescheduling\naccord over 14 years with the interest margin lowered to 7/8\npct over London Interbank Offered Rate (Libor) from 1-1/8 pct.\n    In an interview with El Universal newspaper, Marcano said\nhe thought U.S. Government pressure on banks had more to do\nwith the unexpectedly speedy agreement than Brazil's decision\nto suspend interest payments.\n    \"I think what speeded an agreement was the attitude of the\nU.S. Government, which urged several major banks to soften\ntheir position in various debt renegotiations. The Brazil\nannouncement came later,\" he said.\n    Bankers noted Citibank had held up an agreement with Chile,\nobjecting to proposals for delayed interest payments. A pact\nwith Chile, with a one pct spread, came a day before\nVenezuela's.\n    Marcano said a telex sent to Venezuela's 450 creditors\nseeks support for the government's foreign borrowing plans,\nwhich are aimed at aluminium, steel and iron ore projects. \"We\ncannot rule out a trip to financial centres to explain the new\nagreement and present the financing programmes we have,\" he\nsaid, adding he hoped to restore credit ratings of the 1970s.\n    Lusinchi said on Monday the government will limit foreign\nborrowing, which would come from banks and multilateral\nagencies, to 50 pct of interest and principal paid in the next\ntwo years. According to the restructured accord, this would\nwork out at around 2.5 billion dlrs.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 10:19:55.55",
    "places": [
      "venezuela",
      "usa",
      "brazil"
    ],
    "id": "1472"
  },
  {
    "title": "POPE AND TALBOT  SELLS CONVERTIBLE DEBT",
    "body": "Pope and Talbot Inc is raising 40 mln\ndlrs via an offering of convertible subordinated debentures due\n2012 with a six pct coupon and par pricing, said sole manager\nBear, Stearns and Co.\n    The debentures are convertible into the company's common\nstock at 51.875 dlrs per share, representing a premium of 25\npct over the stock price when terms on the debt were set.\n    Non-callable for two years, the debentures are rated Ba-3\nby Moody's and BB-minus by S and P. The issue was increased\nfrom an initial offering of 35 mln dlrs.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:22:28.13",
    "places": [
      "usa"
    ],
    "id": "1473"
  },
  {
    "title": "DNC UNIT ISSUES 19 BILLION ZERO COUPON YEN BOND",
    "body": "DNC International Finance A/S is issuing\na 19 billion yen, zero coupon eurobond due March 17, 1992 and\npriced at 80.9 pct, lead manager Daiwa Europe Ltd said.\n    The bond is guaranteed by Den norske Creditbank and is\navailable in denominations of one mln yen. It will be listed in\nLuxembourg. Payment date is March 17.\n    Fees comprise one pct selling concession with 55 basis\npoints for management and underwriting combined.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 10:22:35.49",
    "places": [
      "uk"
    ],
    "id": "1474"
  },
  {
    "title": "HAMBURGISCHE L/B ISSUES AUSTRALIAN DLR EUROBOND",
    "body": "Hamburgische Landesbank Girozentrale is\nissuing a 50 mln Australian dlr eurobond due April 2, 1991\npaying 15 pct and priced at 101-1/2 pct, lead manager Orion\nRoyal Bank Ltd said.\n    The non-callable bond is available in denominations of\n1,000 and 10,000 Australian dlrs and will be listed in\nLuxembourg. The selling concession is 1-1/8 pct while\nmanagement and underwriting combined pays 5/8 pct.\n    The payment date is April 2.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 10:24:00.44",
    "places": [
      "uk"
    ],
    "id": "1475"
  },
  {
    "title": "GERMAN ENGINEERS WILL HOLD WARNING STRIKES MARCH 9",
    "body": "West German engineering union IG\nMetall will hold nationwide warning strikes on March 9, to\npress demands for a 35-hour week and a five pct wage increase,\na union spokeswoman said.\n    Further details of the time and place of the strikes will\nbe given at a press conference on the same day, she added.\n    In mid-February, IG Metall chairman Franz Steinkuehler\ncalled for the strikes after 35 unsuccessful rounds of talks.\n    IG Metall shut down the entire auto industry for seven\nweeks in summer 1984 to press employers to cut the working week\nto 35 hours from 40. A compromise of 38.5 hours was agreed.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 10:26:46.27",
    "places": [
      "west-germany"
    ],
    "id": "1476"
  },
  {
    "title": "SENATE'S PROXMIRE URGES CURBS ON TAKEOVERS",
    "body": "Senate Banking Committee chairman\nWilliam Proxmire called for curbs of hostile corporate\ntakeovers and new restrictions on risk arbitrageurs.\n    \"At the very least, it is high time that we require all risk\narbitrageurs to register seperately and specifically  with the\nSecurities and Exchange Commission and that we consider\nprecluding brokerage firms and their employers from investing\nin, or owning any securities issued by, third party risk\narbitrage operations,\" Proxmire said at the start of a hearing\non corporate takeovers.\n    \"A burning issue must be whether there ought to be a\ncomplete seperation in the future of risk arbitrage and\ninvestment banking,\" Proxmire said.\n    He said he was concerned that hostile takeover attempts\nwere hurting the economy, a view shared by corporate executives\nwho tesitified at the hearing. \"I believe that takeovers have\nbecome so abusive and so tilted in favor of the financial\nbuccaneers that remedial action is required,\" USX Corp chairman\nDavid Roderick said. \"For Congress to allow the takeover game to\ncontinue unchecked, would be economic suicide,\" Champion\nInternational Corp chairman Andrew Sigler added.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:29:46.99",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1477"
  },
  {
    "title": "SPAIN TO LAUNCH EXPORT DRIVE",
    "body": "Spain unveils a 105 billion peseta plan\nthis month aimed at boosting exports to reach European\nCommunity levels, director-general of the INFE export\ninstitute, Apolonio Ruiz Ligero, said.\n    \"The target is to raise exports to 20 pct of Gross Domestic\nProduct over the next four years compared to 15 pct now,\" he\nsaid.\n     \"This is the minimum prevailing level in the EC and there\nis no reason why we should lag behind countries like Italy,\nwhich have a similar productive structure,\" he said.\n    The plan calls for providing soft loans, tax cuts and other\nfiscal benefits to exporters and raising Spain's presence in\ninternational trade fairs.\n    Consumer goods such as fashion and wine, as well as\ntraditional industrial exports will be promoted.\n    Ruiz Ligero said INFE would double its annual budget to 20\nbillion pesetas to finance the four-year plan, while the\ngovernment's development aid fund (FAD) would provide a special\n25 billion peseta grant.\n    The plan calls for boosting exports by five to six pct in\nreal terms this year after a 7.4 pct decline last year.\n    Ruiz Ligero attributed this drop to a lack of demand in\ndeveloping countries and a rally in domestic consumer demand,\nwhich rose six pct last year after 1.9 pct in 1985.\n    He added that 80 pct of Spain's exports went to\nOrganisation for Economic Cooperation and Development (OECD)\ncountries.\n    The EC accounts for 60 pct of the market and exports to the\nCommunity rose seven pct last year. The government plans to\nconcentrate efforts on Western Europe and the U.S.\n    \"The problem is convincing businessmen that exports are\nvital to survival in the context of EC competition,\" he said.\n    He said Spanish businessmen traditionally turned to the\ndomestic market to satisfy rises in consumer demand, while\nturning their backs on foreign markets.\n    \"They have to realise their share of the home market is\ngoing to shrink with growing deregulation,\" he said. \"Foreign\ncompanies are taking up positions in the domestic economy and\nit is it vital to secure a market share abroad.\"\n REUTER\n\u0003",
    "date": " 4-MAR-1987 10:30:27.85",
    "topics": [
      "trade"
    ],
    "organisations": [
      "ec"
    ],
    "places": [
      "spain"
    ],
    "id": "1478"
  },
  {
    "title": "MORGAN KEEGAN  SHARE OFFER UNDERWAY",
    "body": "Morgan Keegan Inc said an\noffering of one common of its common shares is underway at\n15.25 dlrs per share through underwriters led by First Boston\nInc , A.G. Edwards and Sons Inc  and its own Morgan\nKeegan and Co Inc subsidiary.\n    Underwriters have been granted an option to buy up to\n150,000 more shares to cover overallotments.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:34:59.73",
    "places": [
      "usa"
    ],
    "id": "1479"
  },
  {
    "title": "ROSSIGNOL UNIT BUYS CANADIAN SKI BOOT MAKER",
    "body": "French ski and tennis equipment maker\n said its 97.7-pct owned subsidiary  agreed to buy Canadian ski stick and boot\nmanufacturer  from .\n    A Rossignol spokesman declined to give financial details\nbut said turnover of CFAS was about 100 mln French francs,\ndoubling the Rossignol group's activities in the boot and stick\nsectors.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:35:16.62",
    "topics": [
      "acq"
    ],
    "places": [
      "france",
      "canada"
    ],
    "id": "1480"
  },
  {
    "title": "VOLKSWAGEN LATE FEBRUARY U.S. SALES OFF 42.5 PCT",
    "body": "Volkswagen U.S. Inc, a subsidiary of\nVolkswagen AG , said car sales for the February 21 to\n28 period fell 42.5 pct to 1,572 from 2,734 cars in the same\nperiod last year.\n    There were seven selling days in each period.\n    For the month of February, Volkswagen said sales were off\n35.2 pct to 3,808 from 5,873 cars in the same month last year.\n    For the year-to-date, U.S. cars sales dropped 45.7 pct to\n6,627 from 12,194 cars in the comparable period of 1986,\nVolkswagen said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:36:51.54",
    "places": [
      "usa"
    ],
    "id": "1481"
  },
  {
    "title": "COMMISSION REPORT WARNS ON EC FINANCING",
    "body": "The European Community is close to\nbankruptcy, the EC's Executive Commission said in a report.\n    In its bluntest ever warning about the state of EC\nfinances, it said \"The Community is at present faced with a\nbudgetary situation which can only be characterised as being on\nthe brink of bankruptcy.\"\n    The report, dated Saturday, is meant to set the scene for a\nmajor change in the way the EC is financed, which foreign\nministers are due to start debating next month.\n    The Commission blamed the EC's new cash crisis on the\n\"considerable reluctance\" of governments to pay for decisions\nthey themselves have taken.\n    \"Budgetary practices have emerged which fictitiously\ndisguise the real impact of expenditure decisions,\" it said.\nAdding that such practices were unacceptable.\n    It put the EC's accumulated liabilities at the end of last\nyear at 12.2 billion European Currency Units and estimated\nthese would rise by a further five billion Ecus this year.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 10:37:03.87",
    "organisations": [
      "ec"
    ],
    "places": [
      "belgium"
    ],
    "id": "1482"
  },
  {
    "title": "USF AND G CORP  RAISES QUARTERLY DIVIDEND",
    "body": "Qtly div 62 cts vs 58 cts in the prior quarter\n    Payable April 30\n    Record March 20\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:38:23.91",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1483"
  },
  {
    "title": "TANDY  FEBRUARY SALES UP 12 PCT",
    "body": "Tandy Corp said February sales\nand operating revenues were up 12 pct to 244.4 mln dlrs from\n218.1 mln dlrs a year before.\n    It said sales and revenues of U.S. retail operations were\nup 15 pct to 210.7 mln dlrs from 183.6 mln dlrs a year before\nand sales of U.S. retail stores in existence for more than one\nyear were up 13 pct.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:38:50.06",
    "places": [
      "usa"
    ],
    "id": "1484"
  },
  {
    "title": "OHIO MATTRESS  TO SELL CONVERTIBLE DEBT",
    "body": "Ohio Mattress Co said it filed with the\nSecurities and Exchange Commission registration statements\ncovering a 75 mln dlr issue of convertible subordinated\ndebentures due 2012 and an offering of four mln shares of\ncommon stock.\n    Proceeds will be used to reduce floating-rate bank debt\nincurred in connection with the acquisition of 82 pct of Sealy\nInc through the purchase of seven Sealy licensees in December\n1986 for 262 mln dlrs in cash, Ohio Mattress said.\n    The company named Lazard Freres and Co as lead underwriter\nof the offerings.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:39:22.90",
    "places": [
      "usa"
    ],
    "id": "1485"
  },
  {
    "title": "MOODY'S UPGRADES GE  MORTGAGE INSURANCE UNIT",
    "body": "Moody's Investors Service Inc said it\nupgraded to Aaa from Aa-1 the insurance rating of General\nElectric Mortgage Insurance Co of Ohio, a unit of General\nElectric Co.\n    Moody's said this reflected the strengthening of terms in a\nrevised net worth agreement between GEMICO and its immediate\nparent, General Electric Credit Corp, whose long-term unsecured\ndebt is also a top-flight Aaa.\n    However, the rating agency said the agreement does not\nbenefit other GEMICO affiliates in California, Florida and\nNorth Carolina.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:39:30.49",
    "places": [
      "usa"
    ],
    "id": "1486"
  },
  {
    "title": " U.K. One billion stg nine pct bond issue due 2002 exhausted - dealers\n",
    "date": " 4-MAR-1987 10:39:38.33",
    "id": "1487"
  },
  {
    "title": " SETS DISTRIBUTIONS",
    "body": "BRNF Liquidating Trust said\ntrustees declared a 13th liquidating dividend of 1.10 dlrs per\nunit, payable April One to holders of record of its Series A, B\nand C certificates on March 18.\n    The trust had paid a 12th liquidating distribution on\nJanuary 15 amounting to 1.750 dlrs on Series A, 1.815 dlrs on\nSeries B and 1.765 dlrs on Series C certificates.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:39:45.48",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1488"
  },
  {
    "title": "EA ENGINEERING  HAS AIR FORCE CONTRACT",
    "body": "EA Engineering Science and\nTechnology Inc said it was awarded a four-year task order\ncontract by the U.S. Airfaorce to provide technical services\nunder its Installation Restoration Program.\n    The company said the contract has a potential value of 9.5\nmln dlrs. EA will assess the feasibility of cleaning up\nhazardous waste sites at selected Air Force installations\nacross the country and design remedial strategies for each site.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:39:55.56",
    "places": [
      "usa"
    ],
    "id": "1489"
  },
  {
    "title": "NATRIONAL HEALTHCORP  EXPANDING CENTERS",
    "body": "National HealthCorp LP said\nit has started adding 46 beds for its Greenwood Health Care\nCenter in Greenwood, S.C., and plans to add 10 beds to its\nSpringfield Health Care Center in Springfield, Tenn.\n    The company said it has opened Colonial Hill Retirement\nApartments adjacent to its Colonial Hill Health Care Center in\nJohnson City, Tenn., and has completely remodeled National\nHealth Care Center in Lawrenceburg, Tenn.\n    It said it is acquiring the title to that center, which had\nbeen owned by Lawrence County Lions Club and called Lions\nNursing Home.\n    National said the projects will cost a total of about\n3,500,000 dlrs.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:40:06.91",
    "places": [
      "usa"
    ],
    "id": "1490"
  },
  {
    "title": "DIGITAL EQUIPMENT  SEEKS COST EFFECTIVENESS",
    "body": "Digital Equipment said it is\ntaking several initiatives designed to make it easier and more\ncost effecive for customers to purchase and use its products\nand services.\n    The company also said it is introducing three new mid-range\nVAX systems.\n    Digital stated the moves \"further strengthened its\nleadership position in the computer industry.\"\n    The company said it also adjusted prices acrossall product\nlines to more accurately reflect performance and customer value.\n    Digital said the new products -- the VAX 8250, VAX 8350 and\nVZX 8530 systems -- replace earlier models and provide up to 40\npct increased performance.\n    It said the new \"systems reflect Digital's ability to\nsustain its present leadership in integrated, networked\nsystems.\"\n    Effective today, the company said, it is adopting new\nbusiness practices to remain responsive to the needs of\ncustomers and the rapidly changing marketplace, specifically\nthe trend towards distributed, networked operations.\n    Digital said it is instituting a discount structure based\non total enterprise purchase of hardware and software.\nPurchases for resale are included within this simplified\nDiscount structure.\n    The company said it now has a one-year warranty on all\nhardware, including VAX and PDP systems, all options and\nperipherals. In addition, customers can select to extend their\nhardware warranties up to three years at the time of purchase.\n    Digital said its new software licensing policy simplifies\nthe transfer of software within a company and includes\nrellicensing procedures for used equipment.\n    Digital said it has instituted uniform quantity pricing on\nall product list prices with increases to reflect full system\nvalue on high functionality systems and software.\n    Without providing any details, it also said the are price\nreductions of up to 50 pct on selected memories and disks.\n    \"Based on the analysis of product mix, price adjustments\nwill generally result in minimal net impact in costs in a\ntypical user enterprise,\" it added.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:40:23.36",
    "places": [
      "usa"
    ],
    "id": "1491"
  },
  {
    "title": "STANLINE INC  1ST QTR JAN 31 NET",
    "body": "Shr 20 cts vs 15 cts\n    Net 345,970 vs 257,252\n    Revs 14.0 mln vs 13.4 mln\n    NOTE: Share adjusted for five pct stock dividend in\nDecember 1986.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:40:35.59",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1492"
  },
  {
    "title": "DOW CHEMICAL CO  UNIT INCREASES PRICES",
    "body": "The Dow Chemical Co said its\nEngineering Thermoplastics Department will increase the selling\nprices of standard grades of MAGNUM ABS resins by three cts per\npound.\n    It also announced an increase of five cts per pound for\nperformance grades of the resins.\n    Both increases are effective April 1, 1987.\n\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:40:41.91",
    "topics": [
      "pet-chem"
    ],
    "places": [
      "usa"
    ],
    "id": "1493"
  },
  {
    "title": "SWIFT ENERGY CO  4TH QTR NET",
    "body": "Shr 12 cts vs eight cts\n    Net 485,866 vs 316,193\n    Revs 1,741,508 vs 1,440,154\n    Year\n    Shr 28 cts vs 20 cts\n    Net 1,108,314 vs 778,197\n    Revs 5,073,178 vs 3,687,160\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:40:45.77",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1494"
  },
  {
    "title": "NORTHROP  GETS 469.6 MLN DLRS CONTRACT",
    "body": "Northrop Corp said its\ndefense systems division based here, has been awarded\nproduction and development contracts totaling 469.6 mln dlrs to\nupdate the radar-jamming system on the U.S. Air Force's F-15\nEagle frontline tactical fighter.\n    Work, under a 333 mln dlrs production contract for a major\nsystem update of the AN/ALQ-135 internal countermeasure set, is\nexpected to be completed in April 1990, it said.\n    A separate 136.6 mln dlrs contract for full scale\ndevelopment, test equipment and program support for the\nAN/ALQ-135 receivers is included in the contract award,\nNorthrop said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:41:01.45",
    "places": [
      "usa"
    ],
    "id": "1495"
  },
  {
    "title": "BROWNING-FERRIS INDUSTRIES INC  IN PAYOUT",
    "body": "Qtly div 20 cts vs 20 cts prior\n    Pay April 10\n    Record March 20\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:41:04.46",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1496"
  },
  {
    "title": "BUFFTON CORP  BUYS B AND D INSTRUMENTS",
    "body": "Buffton Corp said it completed\nthe purchase of B and D Industruments Inc for two mln dlrs cash\nand 400,000 shares of common stock.\n    It said B and D is a private company headquartered in\nKansas, and had sales of 4,700,000 dlrs in 1986.\n    Buffton said the company designs and manufactures aviation\ncomputer display systems and engine instrumentation.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:41:31.74",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1497"
  },
  {
    "title": "VEREINS- UND WESTBANK TO REORGANIZE NETWORK",
    "body": "und Westbank AG  plans\nto streamline its branch network to improve its distribution of\nfinancial services, management board member Eberhard-Rainer\nLuckey said.\n    He told a news conference on 1986 results that branches in\nHamburg and Schleswig-Holstein would be merged or closed, a\nbranch in Frankfurt opened and that the bank was considering\nopening a branch in London.\n    Luckey said the bank's total operating profits rose nearly\n29 pct in 1986. Parent bank net profit rose to 47.7 mln from\n42.2 mln and the dividend remained unchanged at 12 marks.\n    The group balance sheet, including for the first time\nVereinWest Overseas Finance (Jersey), rose 9.2 pct to 17.9\nbillion marks, Luckey said.\n    The parent bank balance sheet rose 89 mln marks to 13.2\nbillion, while business volume was almost unchanged at 14.8\nbillion. Credit volume eased to 9.1 billion from 9.2 billion\nwhile loans to companies rose seven pct.\n    Foreign business and securities trading turnover also\nincreased. Higher earnings from trading on the bank's own\naccount contributed to record operating profits.\n    Net interest income rose on firmer interest margins by 16.1\nmln marks to 381.6 mln. Net commission income rose 6.6 mln to\n156.7 mln, Luckey said.\n    Foreign commercial business was influenced by a fall in\nWest German foreign trade but earnings were still satisfactory.\n    The bank's exposure in Latin America was less than two pct\nof its total foreign credit and in Africa less than one pct.\n    The bank continued to sell some of its exposure in 1986,\nand will also continue to stock up risk provisions, he said.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 10:42:13.33",
    "topics": [
      "earn"
    ],
    "places": [
      "west-germany"
    ],
    "id": "1498"
  },
  {
    "title": "BALDRIGE CONCERNED ABOUT KOREAN/TAIWAN DEFICITS",
    "body": "Secretary of Commerce Malcolm\nBaldrige expressed concern about the continuing U.S. trade\ndeficits with South Korea and Taiwan and said that without an\nadjustment in exchange rates there is little likelihood of\nimprovement.\n    Speaking to the President's Export Council, an industry\nadvisory group, Baldrige said the trade deficit issue was under\ndiscussion with those countries.\n    \"I feel that unless we see an exchange rate adjustment we\nprobably won't be able to see much of a change in the large\nsurplus that Taiwan in particular has with us,\" he said.\n    In a wide-ranging discussion on U.S. trade matters,\nBaldrige also repeated U.S. concern about an attempted takeover\nby Japan's Fujitsu company of Fairchild Computer.\n    He said that the Japanese were resisting allowing U.S.\ncompanies into the giant computer business while at the same\ntime attempting to acquire control of a U.S. company that does\nmajor computer business in the U.S. market.\n    Lastly, Baldrige said that the United States was hopeful\nthat it could complete a free market agreement with Canada by\nthe autumn, but said major issues, including acid rain,\nremained unresolved.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:44:58.63",
    "topics": [
      "trade"
    ],
    "places": [
      "usa",
      "south-korea",
      "taiwan",
      "japan",
      "canada"
    ],
    "id": "1499"
  },
  {
    "title": "ALLWASTE  TO MAKE ACQUISITION",
    "body": "Allwaste Inc said it has agreed in\nprinciple to acquire an air-moving and related industrial\nservices company it did not identify for up to 1,400,000 dlrs\nin common stock.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:45:36.47",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1500"
  },
  {
    "title": "PS NEW MEXICO  STUDIES SYSTEM PARTNERSHIP",
    "body": "Public Service Co of New\nMexico said it is evaluating placing its electric distribution\nsystem in a limited partnership with assets of about 400 mln\ndlrs.\n    The utility said it advised a customer task force this is\none restructuring alternative being considered for the\ncompany's electric business.\n    The structure is being evaluated as part of the company's\noverall initiative in response to several goals announced by\nNew Mexico Governor Garrey Carruthers, it explained.\n    Public Service New Mexico said a central feature of its\nreorganization concept would be to separate the company's\nelectric utility operation into independent generation and\ndistribution entities, creating the opportunity for a targeted\n35 mln dlr a year rate decrease.\n    Noting the use of the limited partnership structure by a\nvariety of businesses recently, the company said it believes\n\"the concept may well have an application in the utility\nbusiness and intend to investigate it fully.\"\n    The generation company would provide projected power needs\nof the distribution entity under a 30-year \"power security\nagreement\" which would have a federally regulated rate\nstructure, the company said.\n    Public Service New Mexico said the restructuring could\nprovide for its gas and water utilities and its non-utility\ncompanies becoming subsidaries of the proposed holding company\napproved by the company's shareholders in May 1986.\n    This holding company would be the general partner of the\nlimited partnership, the company said.\n    The company said its limited partnership concept was\npresented to an ad hoc customer task force convened by Gov.\nCarruthers to review the company's reorganization proposals.\n    It said the reorganization and limited partnership are an\nalternative structure that would  help reduce rates through a\nlower overall cost of capital.\n    Last month the governor said \"I have outlined to PNM\ncritical goals which I have asked them to cooperate with may\nadministration in achieving\" adding the goals include immediate\nrate reduction, stabilization of future rates and stimulation\nof business expansion.\n    The company told the task force the new distribution\ncompany, under the limited partnership alternative or\notherwise, would continue to be fully regulated by state\nregulators.\n    PNM's proposed generation company would continue to be\nowned by common shareholders through the holding company. Its\nrates would be set by the Federal Energy Regulatory Commission\nwhich regulates for wholesale electric power sales and\ntransmission services. The generation company would have no\nretail customers.\n    PNM said it expects to file a detailed restructuring plan\nwith state regulators in the near future, noting approval would\nalso be needed by FERC.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:48:52.30",
    "places": [
      "usa"
    ],
    "id": "1501"
  },
  {
    "title": "CASTLE AND COOKE  TAKES FOURTH QTR LOSS",
    "body": "Castle and Cooke Inc said it would\ntake a fourth quarter after-tax loss of 33.9 mln dlrs from the\npreviously reported sale of its Flexi-Van container leasing\nbusiness to Itel Corp  for about 215 mln dlrs.\n    Earlier, the company reported a loss for the fourth quarter\nended January 3 of 31.9 mln dlrs, or 76 cts a share, compared\nwith a loss of 3.3 mln dlrs, or 21 cts per share, in 1985's\nfourth quarter.\n    For the year, however, the diversified holding company\nreported a net profit of 43.9 mln dlrs, or 56 cts a share,\nversus 46.4 mln dlrs, or 56 cts a share, in 1985.\n    David Murdock, chairman and chief executive officer, said,\n\"Both our food business and our real estate operations\nincreased their earnings during the year (1986).\"\n    But, he added that Flexi-Van's 1986 results were hit by\ndepressed daily rental rates for leased equipment caused by\noversupplies.\n    The company also reported that George Elkas, formerly\nexecutive vice president,  has been named president and chief\noperating officer of Flexi-Van Corp, while William Burns has\nbeen named executive vice president of Flexi-Van.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:49:20.05",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1502"
  },
  {
    "title": "FED EXPECTED TO ADD TEMPORARY RESERVES",
    "body": "The Federal Reserve is expected to\nenter the U.S. Government securities market to add temporary\nreserves, economists said.\n    They expect it to supply the reserves indirectly by\narranging around 1.5 of customer repurchase agreements.\n    Federal funds, which averaged 6.22 pct yesterday, opened at\nsix pct and remained there in early trading.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:51:09.32",
    "topics": [
      "money-fx",
      "interest"
    ],
    "places": [
      "usa"
    ],
    "id": "1503"
  },
  {
    "title": "XEROX  LAUNCHES MORE POWERFUL SOFTWARE",
    "body": "Xerox Corp said it is launching in May\na more powerful version of its Xerox Ventura Publisher desktop\ncomputer software called Release 1.1. that offers 80 new\nfeatures.\n    It said the new software, used for both long and short\ndocuments in IBM PCs, includes conversion for Hewlett-Packard\nSoft Fonts and more sophisticated graphics and page layout\napplications.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:51:53.92",
    "places": [
      "usa"
    ],
    "id": "1504"
  },
  {
    "title": "OMNIBUS COMPUTER IN DEFAULT ON LINE OF CREDIT",
    "body": " said it\nis in default of certain credit provisions of its line of\ncredit with its Canadian banker, resulting from a working\ncapital beficit of eight mln dlrs.\n    The company said it is currently negotiating additional\nfinancing to alleviate the problem.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:52:15.38",
    "places": [
      "canada"
    ],
    "id": "1505"
  },
  {
    "title": "CONVENIENT FOOD MART  AGREES TO BUY CHAIN",
    "body": "Convenient Food Mart Inc said it\nhas tentatively agreed to buy all the outstanding stock of\nPlaid Pantries Inc and two associated businesses in Oregon and\nWashington for undisclosed terms.\n    Plaid Pantries owns and operates 161 convenience stores in\nthe Portland and Seattle areas. The other business are two\ncompanies involved in the wholesale distribution of groceries\nand health and beauty aids, it said.\n    Closing is expected by May 15.\n\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:52:39.54",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1506"
  },
  {
    "title": "AFG INDUSTRIES  DEBT AFFIRMED BY S/P",
    "body": "Standard and Poor's Corp said it\naffirmed the BB-plus rating on AFG Industries Inc's 185 mln\ndlrs of subordinated debt.\n    S and P said it believed AFG would make acquisitions of\nmoderate size in the next few years. AFG's healthy cash flow\nand pro forma cash balances of 169 mln dlrs at September 30,\n1986, should be adequate to fund internal expansion and\nmoderate acquisitions.\n    While AFG's participation in a 1.4 billion dlr bid for Lear\nSiegler Inc was aggressive, AFG was mainly interested in Lear's\nprofitable auto glass operations, S and P noted.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:53:00.12",
    "places": [
      "usa"
    ],
    "id": "1507"
  },
  {
    "title": "WAL-MART STORES INC 4TH QTR SHR 65 CTS VS 47 CTS\n",
    "date": " 4-MAR-1987 10:53:08.00",
    "topics": [
      "earn"
    ],
    "id": "1508"
  },
  {
    "title": "HOECHST CELANESE NAMES SENIOR OFFICERS",
    "body": ",\nrecently formed from the merger of the Celanese Corp with\nAmerican Hoechst Corp, a unit of , said Juergen\nDormann, former member of Hoechts AG's management board, has\nbeen named chairman and chief executive officer of Hoechst\nCelanese.\n    The chemical company also said it named Dieter zur Loye,\nformerly president of American Hoechst, vice chairman, while\nErnest Drew, former group vice president of Celanese, has been\nnamed president and chief operating officer.\n    Hoechst Celanese said Richard Clarke, also formerly a group\nvice president of Celanese, has been appointed senior executive\nvice president of the new company, and Harry Benz, former\nexecutive vice president and chief financial officer of\nAmerican Hoechst, has been named executive vice president and\nchief financial officer.\n    The company also said the former Celanese Corp's fiber\noperations will operate separately as Celanese Fibers Inc, a\nwholly owned unit, pending divestment of certain polyester\ntextile fiber assets.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:53:46.06",
    "places": [
      "usa"
    ],
    "id": "1509"
  },
  {
    "title": "DATA ARCHITECTS  GETS TOKYO BANK CONTRACT ",
    "body": "Data Architects Inc said it\nreceived a contract from the  to expand the\ninstallation of its bank electronic support systems at the\nbank.\n    It said the contract exceeds one mln dlrs.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:53:50.23",
    "places": [
      "usa"
    ],
    "id": "1510"
  },
  {
    "title": "GENERAL DATACOMM  IN SALE/LEASEBACK DEAL",
    "body": "General DataComm Industries\nInc said it has agreed to sell for 40 mln dlrs its Network\nServices facility and its corporate facility and lease back the\nfacilities.\n    It said it has an option to buy the buildings back at a\nlater date.  Proceeds from the financing will be used to reduce\ndebt, it said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:53:55.34",
    "places": [
      "usa"
    ],
    "id": "1511"
  },
  {
    "title": "MARINE MIDLAND  BUYS BROKERAGE ASSETS",
    "body": "Marine Midland Banks Inc said it has\nacquired the customer account base of New York discount\nbrokerage firm Ovest Financial Services Inc for undisclosed\nterms to expand its discount brokerage operations in the\nNortheastern U.S.\n    It said it will combine Ovest's activities with those of\nits Marine Midland Brokerage Service unit.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 10:55:45.44",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1512"
  },
  {
    "title": "U.K. ONE BILLION STG BOND ISSUE EXHAUSTED",
    "body": "A one billion stg issue of nine pct\nExchequer stock due 2002 which became available for trading\nonly this morning was exhausted in mid-afternoon trading on the\nU.K. Government bond market, dealers said.\n    The Bank of England said the issue was no longer operating\nas a tap. The issue was announced Monday at a price of 96 stg\npct and dealers said the Government broker's supplies were sold\nout this afternoon at a partly-paid 20-20/32 stg pct. The bonds\nstarted trading this morning at 20 stg pct.\n    Dealers noted the market had seen vigorous demand\nthroughout the day, prompted mainly by sterling strength.\n    Dealers said that demand had been seen for the tap from\nboth domestic and overseas sources, including from Japan and\nthe U.S.\n    Although the issue had not been designated as free of tax\nto residents abroad (FOTRA) widespread bullish sentiment for\nthe market in general had generated foreign buying.\n    The stock had been regarded as slightly expensive when it\nwas announced and dealers said that even first thing this\nmorning it had seemed slightly dear in relation to comparable\nexisting stocks.\n    However, sterling's continuing firm performance had\nprompted interest in the tap right at the outset.\n    The issue's value had been enhanced by its partly-paid\nstructure, which not only enabled investors to defer payment of\nthe major part of the price until April 27, but also conferred\na substantial gearing element.\n    This meant, dealers explained, that investors who bought\nthe bonds benefitted fully from price gains registered by the\nmarket in general, although only 20 stg pct of the total\npurchase price was tied up initially.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 10:59:00.59",
    "places": [
      "uk"
    ],
    "id": "1513"
  },
  {
    "title": "U.S. TREASURY DEPUTY ASST SECRETARY BERGER SAYS FURTHER DOLLAR DROP COULD CAUSE INFLATION\n",
    "date": " 4-MAR-1987 10:59:03.55",
    "topics": [
      "dlr",
      "money-fx"
    ],
    "id": "1514"
  },
  {
    "title": "WEST GERMANY, TANZANIA AGREE DEBT RESCHEDULING",
    "body": "West Germany and Tanzania have signed an\nagreement on rescheduling 145 mln marks worth of commercial\ncredits, the Finance Ministry said.\n    Tanzania will now have until April 1, 1997 to pay back the\ncredits, some of which had originally fallen due in 1979, a\nministry statement said.\n    Interest on the credits will be paid at market rates.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 10:59:14.90",
    "places": [
      "west-germany",
      "tanzania"
    ],
    "id": "1515"
  },
  {
    "title": "COMMISSION REPORT WARNS ON EC FINANCING",
    "body": "The European Community is close to\nbankruptcy, the EC's Executive Commission said in a report.\n    In its bluntest ever warning about the state of EC\nfinances, it said \"The Community is at present faced with a\nbudgetary situation which can only be characterised as being on\nthe brink of bankruptcy.\"\n    The report, dated Saturday, is meant to set the scene for a\nmajor change in the way the EC is financed, which foreign\nministers are due to start debating next month.\n    The Commission blamed the EC's new cash crisis on the\n\"considerable reluctance\" of governments to pay for decisions\nthey themselves have taken.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:00:23.84",
    "organisations": [
      "ec"
    ],
    "places": [
      "belgium"
    ],
    "id": "1516"
  },
  {
    "title": "AMERICAN MOTORS CORP LATE FEBRUARY CAR SALES\n",
    "date": " 4-MAR-1987 11:00:33.07",
    "id": "1517"
  },
  {
    "title": "WAXMAN INDUSTRIES  TO SELL CONVERTIBLES",
    "body": "Waxman Industries Inc said it filed\nwith the Securities and Exchange Commission a registration\nstatement covering a 25 mln dlr issue of convertible\nsubordinated debentures due 2007.\n    Proceeds will be used to repay short-term indebtedness and\nfor general corporate purposes, which may include acquisitions,\nWaxman said.\n    The company named Drexel Burnham Lambert Inc as sole\nunderwriter of the offering.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:01:17.56",
    "places": [
      "usa"
    ],
    "id": "1518"
  },
  {
    "title": "DOM REPUBLIC SELLS CZARNIKOW 35,000 TONS SUGAR",
    "body": "The Dominican Republic sold\n35,000 long tons of sugar for immediate delivery, with an\noption for 25,000 tons more, to Czarnikow Rionda of New York,\nthe state sugar council announced.\n    It was not immediately clear when the sale was made or at\nwhat price. A council communique said \"the sale was made at the\nbest prevailing conditions in the world sugar market.\"\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:03:42.26",
    "topics": [
      "sugar"
    ],
    "places": [
      "dominican-republic"
    ],
    "id": "1519"
  },
  {
    "title": "EC BACKS NEW MOVE TO ENCOURAGE UNLEADED GASOLINE",
    "body": "The EC Executive Commission has backed\na plan to allow member countries to ban regular leaded gasoline\nin a move designed to encourage use of unleaded fuel.\n    It said in a statement it backed a proposal to allow EC\nstates to ban sales of regular grade gasoline containing lead\nat six months notice. The proposal, which needs approval by EC\nministers, would not force any member state to impose the ban.\n\"It's an option, not an obligation,\" a spokesman said.\n    But the Commission said imposing the ban would encourage\nthe use of unleaded fuel, as well as making it easier for gas\nstations by cutting the number of types of gasoline they had to\nstock.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:06:06.35",
    "topics": [
      "gas"
    ],
    "organisations": [
      "ec"
    ],
    "places": [
      "belgium"
    ],
    "id": "1520"
  },
  {
    "title": "SUN RAISES CRUDE OIL POSTINGS ONE DLR ACROSS BOARD. WTI NOW 17.00 DLRS/BBL\n",
    "date": " 4-MAR-1987 11:07:28.74",
    "topics": [
      "crude"
    ],
    "id": "1521"
  },
  {
    "title": "STRONG POINT UNIT TO MARKET PRODUCT IN EUROPE",
    "body": " said its\nPharmaceutical Technologies Inc subsidiary will market in\nEurope its Immunol-RD nutritional product, designed to protect\nindividuals exposed to medium or minimal radiation dosage\nlevels.\n    The company said it will market the product in Europe\nbecause of the radiation exposure from the Chernobyl nucelar\npower accident.\n    The company asserted that the product can offset the\ndeleterious effects of radiation, which weakens the immune\nsystem.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:08:03.88",
    "places": [
      "usa"
    ],
    "id": "1522"
  },
  {
    "title": "MICHAELS STORES  FEBRUARY SALES RISE",
    "body": "Michaels Stores Inc said February\nsales rose 26.2 pct to 8,049,000 dlrs from 6,380,000 dlrs a\nyear before, with same-store sales up 10.6 pct.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:08:09.12",
    "places": [
      "usa"
    ],
    "id": "1523"
  },
  {
    "title": " 2ND QTR JAN 31 NET",
    "body": "Shr 14 cts vs nine cts\n    Net 1,180,000 vs 640,000\n    Revs 25.6 mln vs 20.1 mln\n    Six mths\n    Shr 26 cts vs 12 cts\n    Net 2,103,000 vs 853,000\n    Revs 44.8 mln vs 33.0 mln\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:08:26.72",
    "topics": [
      "earn"
    ],
    "places": [
      "canada"
    ],
    "id": "1524"
  },
  {
    "title": "SAXTON INDUSTRIES LTD  YEAR NET",
    "body": "Shr 13 cts vs 41 cts\n    Net 1,079,100 vs 3,535,205\n    Revs 13.6 mln vs 16.2 mln\n    Note: Current results for 16 months after change in fiscal\nyear end to December 31 from August 31\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:08:30.91",
    "topics": [
      "earn"
    ],
    "places": [
      "canada"
    ],
    "id": "1525"
  },
  {
    "title": "TORONTO SUN PLANS TWO-FOR-ONE STOCK SPLIT",
    "body": " said it\nplanned a two-for-one split of its common shares, subject to\nregulatory approval and approval by shareholders at the April\n21 annual meeting.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:08:56.38",
    "topics": [
      "earn"
    ],
    "places": [
      "canada"
    ],
    "id": "1526"
  },
  {
    "title": "SERVO CORP OF AMERICA  1ST QTR JAN 31 NET",
    "body": "Shr 43 cts vs 41 cts\n    Net 316,000 vs 298,000\n    Sales 4,857,000 vs 4,543,000\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:08:59.99",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1527"
  },
  {
    "title": "ELECTRO-NUCLEONICS INC  2ND QTR DEC 31",
    "body": "Shr loss 1.77 dlrs vs profit 15 cts\n    Net loss 8,036,000 vs profit 576,000\n    Sales 16.2 mln vs 17.2 mln\n    Avg shrs 4,539,437 vs 3,816,580\n    1st half\n    Shr loss 1.96 dlrs vs profit 26 cts\n    Net loss 8,231,000 vs profit 996,000\n    Sales 30.9 mln vs 32.2 mln\n    Avg shrs 4,205,707 vs 3,814,141\n    NOTE: Current half net includes 68,000 dlr tax credit.\n    Current year net both periods includes 6,700,000 dlr\nwritedown of inventory of clinical chemistry products.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:09:08.66",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1528"
  },
  {
    "title": "WAL-MART STORES INC  4TH QTR JAN 31 NET",
    "body": "Shr 65 cts vs 47 cts\n    Net 184.3 mln vs 133.1 mln\n    Sales 3.85 billion vs 2.77 billion\n    Year\n    Shr 1.59 dlrs vs 1.16 dlrs\n    Net 450.1 mln vs 327.5 mln\n    Sales 11.91 billion vs 8.45 billion\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:10:02.59",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1529"
  },
  {
    "title": "FORD LATE FEBRUARY U.S. CAR SALES UP 29.3 PCT\n",
    "date": " 4-MAR-1987 11:10:23.41",
    "id": "1530"
  },
  {
    "title": "MICROPOLIS  TO OFFER CONVERTIBLE DEBT",
    "body": "Micropolis Corp said it filed with the\nSecurities and Exchange Commission a registration statement\ncovering a 75 mln dlr issue of convertible subordinated\ndebentures due 2012.\n    Proceeds will be used for general corporate purposes and\npossible acquisitions, Micropolis said.\n    The company named Kidder, Peabody and Co Inc as lead\nmanager, and Robertson, Colman and Stephens as co-manager of\nthe offering.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:11:17.29",
    "places": [
      "usa"
    ],
    "id": "1531"
  },
  {
    "title": " 1ST QTR DEC 31 NET",
    "body": "Shr two cts vs two cts\n    Net 407,396 vs 376,243\n    Revs 5,341,353 vs 4,292,819\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:12:03.55",
    "topics": [
      "earn"
    ],
    "places": [
      "canada"
    ],
    "id": "1532"
  },
  {
    "title": "U.S. TREASURY AIDE WARNS ON INFLATION",
    "body": "Thomas Berger, Deputy Assistant\nSecretary of the Treasury, said that a further drop in the\nexchange value of the dollar could cause prices to go up and\ntrigger inflation.\n    He told a meeting of the President's Export Council that\nthe Japanese and the Germans have cut their profit margins to\nreflect recent drops in the dollar, so prices have remained\nmuch the same.\n    But he added that if the dollar dropped further there could\nbe inflation in the United States.\n    Berger also said that a further devalued dollar may cause\neconomic depressions in some U.S. trading partners, and that\nwould not be in America's interest because it would close those\nmarkets to U.S. goods.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:13:59.36",
    "topics": [
      "money-fx",
      "dlr"
    ],
    "places": [
      "usa"
    ],
    "id": "1533"
  },
  {
    "title": "INDEPENDENT AIR  IN EXCHANGE FOR WARRANTS",
    "body": "Independent Air Holdings Inc said it is\nplanning an exchange offer for its Class A warrants, which\nexpire April 11.\n    The company said for 30 days after the effective date of\nthe registration statement covering the offer, it would\nexchange 100 dlrs principal amount of 12 pct convertible\nsubordinated notes due 1991 plus 300 common shares for each 800\nwarrants plus 145 dlrs.\n    It said interest on the notes would be payable annually in\ncash or common stock at the company's option, and the principal\nwould also be payable in cash or stock at maturity.\n    The company said if the note principal were paid in stock,\na noteholder would receive 625 common shares for each 100 dlrs\nprincipal amount.  It said the notes would be convertible into\ncommon stock at 16 cts per share after one year and redeemable\nin whole or in part at the company's option after two years.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:17:14.76",
    "places": [
      "usa"
    ],
    "id": "1534"
  },
  {
    "title": "LEAF DISEASE HITS SRI LANKA RUBBER",
    "body": "A leaf disease affecting seven pct of\nSri Lanka's rubber plantations may reduce output this year and\nraise currently depressed prices, industry officials and\nresearchers told Reuters.\n    About 2,900 hectares of rubber planted with the Rubber\nResearch Institute (RRI) clone 103 have been hit by the fungus\n\"corenes pora\" which attacks the roots of the tree and kills the\nleaves. The disease was first discovered about six months ago.\n    Trade sources say prices might boom once again if the\ncrisis leads to output below the 1987 target of 143,000 tonnes.\nLast year's output is estimated at between 133,000 and 135,000\ntonnes.\n    Researchers say the fungus could spread to other rubber\nclones if no immediate action is taken.\n    \"The RRI is considering asking estates to remove the trees\nseriously affected by the fungus because it was too late to use\nchemicals to kill the disease,\" an Institute spokesman said.\n    Senior industry and research officials met yesterday at\nPadukka, east of here, to discuss ways of controlling the\nfungus which is affecting estates mostly belonging to the State\nPlantations Corp and Janatha Estates Development Board.\n    The two state-owned groups account for 30 pct of rubber\nland with the balance belonging to small private producers with\na total of 145,600 hectares.\n    The RRIC 103 is a new clone propagated by the Research\nInstitute as high yielding and recommended two years ago for\nplanting. Only the two state groups seriously planted these\nclones while smallholders preferred the low-yielding but older\nPBX Malaysian clones.\n    Officials at yesterday's crisis meeting said it was decided\nto uproot only some of the affected trees while others would be\ntreated. They declined to comment on other decisions taken.\n    Trade sources said supplies had improved in the past week\nbut prices had hit their lowest since last December. \"If there\nis a shortage of rubber, prices are bound to rise,\" a spokesman\nfor a company buying on behalf of the Soviet Union said.\n    Rubber prices, particularly crepe, fell sharply by about\nfour rupees a kilo between December and March. The best crepe\none-X traded at 23.68 rupees a kilo, averaged 19.75 at this\nweek's auction. Sheet prices fell by a rupee in the same\nperiod.\n    Quantities offered at the auction also fell to an average\nof 300 tonnes per auction last month from 800 tonnes in\nDecember because of wintering in early February in producing\nareas.\n    Over 550 tonnes were offered at this Tuesday's auction with\nthe supply position showing improvements.\n    Trade sources said the smaller availability of rubber last\nmonth did not raise prices as on previous occasions.\n    \"Some factors, like less storage space from excess stocks,\nmeant we could not buy much at the auction until we disposed of\nthe rubber we already had,\" one buyer said.\n    Other sources said there were few forward contracts and\nspeculative buying last month, while delays in steamer arrivals\naggravated the problem.\n    European buyers delayed their purchases because of winter\nclosures of factories and also in the hope that prices would\nease further.\n    They said another problem that could hit the industry is\nthe dry spell in producing areas. \"If the inter-monsoonal rains\nexpected in late March/April are delayed, we would have further\nshortages,\" one official said.\n    \"But this again could benefit prices,\" a buyer said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:19:12.42",
    "topics": [
      "rubber"
    ],
    "places": [
      "sri-lanka"
    ],
    "id": "1535"
  },
  {
    "title": "PYRO ENERGY CORP  YEAR NET",
    "body": "Shr 36 cts vs 66 cts\n    Net 4,775,000 vs 9,342,000\n    Revs 105.5 mln vs 130.0 mln\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:21:38.12",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1536"
  },
  {
    "title": "EC COMMISSION DETAILS SUGAR TENDER",
    "body": "The European Commission confirmed it\nauthorised the export of 60,500 tonnes of current series white\nsugar at a maximum rebate of 43.147 European Currency Units\n(ECUs) per 100 kilos.\n    Out of this, traders in the U.K. Received 43,500 tonnes, in\nthe Netherlands 12,000, in Denmark 4,000 and in West Germany\n1,000 tonnes.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 11:22:09.85",
    "topics": [
      "sugar"
    ],
    "organisations": [
      "ec"
    ],
    "places": [
      "belgium",
      "uk",
      "netherlands",
      "denmark",
      "west-germany"
    ],
    "id": "1537"
  },
  {
    "date": " 4-MAR-1987 11:23:10.09",
    "places": [
      "usa",
      "uk"
    ],
    "id": "1538"
  },
  {
    "title": "U.S. CAR MAKERS HOPE TO PROFIT FROM WEAK DOLLAR",
    "body": "The Geneva Motor Show, the first major\ncar show of the year, opens tomorrow with U.S. Car makers\nhoping to make new inroads into European markets due to the\ncheap dollar, automobile executives said.\n    Ford Motor Co  and General Motors Corp  sell cars in\nEurope, where about 10.5 mln new cars a year are bought. GM\nalso makes a few thousand in North American plants for European\nexport.\n     Now Chrysler Corp  is saying it will begin exporting\nAmerican-made vehicles before the end of this year to Europe, a\nmarket it left in 1978 when it was near bankruptcy.\n    Ford's European operations in Britain and West Germany\nmanufactured and sold about 1.5 million cars in Europe last\nyear -- the largest U.S. Manufacturer's share of the European\nmarket.\n    Opel/Vauxhall, with factories in West Germany, Spain and\nBritain, accounted for most of GM's sales in Europe with about\n1.3 million vehicles in 1986, officials said.\n    James Fry of GM overseas distribution system said GM hoped\nfor a five-fold rise this year in sales of North American-made\nvehicles in Europe, selling between 7,000 and 8,000 (North\nAmerican-made) units in Europe for the year to August 1987. \"A\nlow dollar makes our prices very attractive,\" he told Reuters.\n    Using an average price of 13,000 dlrs per car, his\nprojected sales figure would translate into between 91 million\nand 104 mln dlrs in turnover, Fry added.\n    That would be a jump from 1986 when GM sold 1,500\nNorth-American made cars for revenue of 19 mln dlrs.\n    Ford has 41 factories in West Europe, which manufacture all\nof its cars sold on the continent.  But Walter Hayes, vice\npresident of Ford Europe, told Reuters he did not expect a\nlarge rise in sales this year as a result of the weak dollar. \n\"We have concluded that despite the dollar difference.... Europe\nis inevitably a small volume market.\"\n    Hayes said the cost of changing American cars to conform to\nEuropean environmental specifications cut into profit margins.\n    But Robert Lutz, Chrysler executive vice-president, said\nthe weak dollar would now help Chrysler compete in Europe. \n\"After a lapse of almost nine years, Chrysler is about to\nre-enter the European market,\" he said.\n    \"We prefer to export to Europe rather than manufacture here\nbecause it will allow us to take full competitive advantage of\nthe favorable exchange rates due to the declining value of the\ndollar.\"\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:25:14.11",
    "places": [
      "switzerland",
      "usa",
      "uk",
      "west-germany",
      "spain"
    ],
    "id": "1539"
  },
  {
    "title": "BUNDESBANK CHANGES REPURCHASE PACT SYSTEM",
    "body": "The Bundesbank is planning changes in\nthe system by which banks bid for funds in securities\nrepurchase pacts to improve the flexibility of its key open\nmarket instrument, central bank officials said.\n    Banking economists said the changes will shorten the tender\nprocess to two days from three currently, enabling the\nBundesbank to offer repurchase pacts of shorter maturity if it\nchooses, to steer money market liquidity more flexibly.\n    The changes will probably come into force in April.\n    Under the current system, banks must themselves specify at\nthe tender which securities they will sell to the Bundesbank\nfor subsequent repurchase, a time consuming business.\n    Banks hold securities for this purpose in safe custody\naccounts in the Landeszentralbank (LZB) regional central banks,\nwhich are the local offices of the Bundesbank at state level.\n    Some 50 billion marks of securities are held in such\naccounts at the Hesse LZB, which covers the Frankfurt area.\n    The change to come into force next month will allow the\nBundesbank access to these accounts to select the bonds itself,\nin a process legally comparable to direct debiting.\n    At present the Bundesbank generally announces a tender on\nMonday, holds the tender late on Tuesday morning, announces the\nresult early Tuesday afternoon and allocates funds Wednesday.\n    The Bundesbank generally sets repurchase pacts running 28\ndays. But sometimes public holidays result in longer pacts or\nlonger tender periods being necessary.\n    For instance the Bundesbank announced a tender last Friday\nto be held today (Wednesday) for crediting funds tomorrow\n(Thursday). The advance announcement took into account the\ncarnival holiday in Duesseldorf on Monday and in Frankfurt\nyesterday (Tuesday).\n    Central bank officials and money market dealers said the\nshortening of the tender process should be seen as purely\ntechnical, with no direct implications for interest rates.\n    \"It is not a credit policy matter but a technical matter,\"\nsaid an official at the Hesse LZB.\n    Bundesbank President Karl Otto Poehl said last December\nthat security repurchase pacts had proved a much greater\nsuccess since their introduction in their present form two\nyears ago, and praised their flexibility.\n    The tender process changes will make the repurchase pact\ninstrument even more flexible, banking economists said.\n    By speeding up the tender process, they will make it\npossible for the Bundesbank to offer repurchase pacts for\nperiods of less than a month, something long sought by banks,\nto respond to changing money market conditions.\n    \"With the help of this instrument liquidity steering will be\nrefined, but there won't be any effect on interest rates,\" said\nBerliner Handels- und Frankfurter Bank economist Hermann\nRemsperger.\n    The Bundesbank would be able to react more quickly to money\nmarket developments, but by steering liquidity, not interest\nrates, he said.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 11:25:26.95",
    "places": [
      "west-germany"
    ],
    "id": "1540"
  },
  {
    "title": "UNITRODE CORP  4TH QTR JAN 31 LOSS",
    "body": "Shr loss 13 cts vs profit 10 cts\n    Net loss 1,804,062 vs profit 1,370,063\n    Revs 33.5 mln vs 40.4 mln\n    12 mths\n    Shr loss 51 cts vs profit cts\n    Net loss 7,030,235 vs profit 9,163,141\n    Revs 149.4 mln vs 167.9 mln\n    NOTE: income before taxes for the 12 mths ended Jan 1987\nincludes gains 895,000 for fire insurance settlement, and\nunusual charges of 7,900,000 for provisions for estimated cost\nof severance pay for terminated workers and a one-time\nwritedown of inventory and equipment.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:27:03.68",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1541"
  },
  {
    "title": "NATIONAL SEMI  UNIT STEPS UP DELIVERIES",
    "body": "National Semiconductor\nCorp's National Advanced Systems unit said it is accelerating\nthe delivery schedule for the two most powerful models of its\nAS/XL series mainframe processors because of growing customer\ndemand.\n    The company said the AS/XL 90 and AS/XL 100, which had been\nscheduled for general availability in the third quarter, will\nnow be available in the second quarter.\n    National Advanced Systems also announced a new 7480\ncartridge tape subsystem which uses 18 track compact tape\ncartridges.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:28:03.48",
    "places": [
      "usa"
    ],
    "id": "1542"
  },
  {
    "title": "BUEHLER INTERNATIONAL INC  4TH QTR NET",
    "body": "Shr five cts vs 20 cts\n    Qtly div two cts vs two cts prior\n    Net 223,000 vs 1,418,000\n    Sales 15.3 mln vs 17.1 mln\n    Year\n    Shr 61 cts vs 81 cts\n    Net 3,106,000 vs 5,940,000\n    Sales 63.0 mln vs 59.5 mln\n    NOTE: 1986 net includes tax credits of 63,000 dlrs in\nquarter and 1,365,000 dlrs in year.\n    1986 net both periods includes 500,000 dlr pretax inventory\nwritedown.\n    Dividend pay March 27, record March 5.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:28:39.27",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1543"
  },
  {
    "title": "FORD  LATE FEBRUARY CAR SALES UP 29.3 PCT",
    "body": "Ford Motor Co said its sales of\nU.S.-made cars in late February rose 29.3 pct over the same\nperiod last year.\n    The automaker said it sold 51,411 domestic cars in the\nFebruary 21-28 period, up from 39,754 last year's period. There\nwere seven selling days in both periods.\n    Ford's sales of U.S. cars for the month of February were up\n6.9 pct to 157,031 from 146,898. Year-to-date, the company's\ncar sales dipped 10.5 pct to 265,301 compared to 296,298.\n    Sales of Ford trucks in the late February period increased\n48.3 pct to 39,080 from 26,358 vehicles sold in the same period\nlast year.\n    For the month, Ford sold 111,853 trucks, up 16.5 pct on a\ndaily sales basis from last year, when the company sold 96,058\ntrucks in the period. Ford's year-to-date truck sales through\nFebruary, at 195,694 vehicles against last year's 194,715, were\n0.5 pct ahead of the 1986 pace.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:30:17.49",
    "places": [
      "usa"
    ],
    "id": "1544"
  },
  {
    "title": "STANHOME INC  RAISES QUARTERLY TWO CTS",
    "body": "Qtly div 23 cts vs 21 cts prior\n    Pay April 1\n    Record March 16\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:31:01.58",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1545"
  },
  {
    "title": "INSTRON CORP  SETS QUARTERLY",
    "body": "Qtly div three cts vs three cts prior\n    Pay April 2\n    Record March 16\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:32:26.71",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1546"
  },
  {
    "title": "WEST GERMAN BANK ISSUES LUXEMBOURG FRANC BOND",
    "body": "Landesbank Rheinland-Pfalz\nInternational SA is issuing a 300 mln Luxembourg franc private\nplacement bond with a 7-1/4 pct coupon at par, lead manager\nCaisse d'Epargne de l'Etat du Grand-Duche de Luxembourg said.\n    The five-year, non-callable bullet bond is for payment on\nMarch 24 and coupon payments are annually on March 25.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 11:33:11.96",
    "places": [
      "luxembourg"
    ],
    "id": "1547"
  },
  {
    "title": "FED PROPOSES CURRENCY, RATE SWAP RISK GAUGE AS PART OF  NEW CAPITAL STANDARD\n",
    "date": " 4-MAR-1987 11:35:48.90",
    "id": "1548"
  },
  {
    "date": " 4-MAR-1987 11:38:36.65",
    "places": [
      "uk"
    ],
    "id": "1549"
  },
  {
    "title": "GERMAN INSTITUTE SEES INFLATION RISING IN 1987",
    "body": "The cost of living in West Germany will\nlikely be about 0.5 pct higher on average in 1987 than in 1986,\nwhen the cost of living actually fell by an average 0.2 pct in\nthe first recurrence of \"negative inflation\" since the 1950s, the\nHWWA economic research institute said.\n    The re-emergence of inflation will result mainly from the\nfading of two factors which influenced the fall in the 1986\ncost of living - the steep decline in both oil prices and the\nvalue of the dollar, the institute said in a report.\n    The institute said inflation will see a rising trend in the\ncourse of 1987, but will average only 0.5 pct for the year as a\nwhole because year on year rates will remain negative in the\nfirst part of 1987.\n    Provisional inflation figures for February released last\nweek showed the cost of living last month was 0.5 pct lower\nthan in February 1986. In January prices had fallen 0.8 pct\nagainst the same month a year earlier.\n    The HWWA said its forecast assumed the dollar would remain\naround 1.80 marks and oil prices would range between 15 and 17\ndlrs per barrel.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 11:38:44.03",
    "topics": [
      "cpi"
    ],
    "places": [
      "west-germany"
    ],
    "id": "1550"
  },
  {
    "title": "CEREALS MCAS TO BE UNCHANGED NEXT WEEK",
    "body": "Cereals Monetary Compensatory Amounts,\nMCAs, will be unchanged for the week starting March 9, an EC\nCommission spokesman said.\n    They will be plus 2.4 points for the Netherlands and West\nGermany, minus two for Denmark, minus eight for France, minus\nnine for Ireland, minus 5.7 for Italy, minus 30.2 for Britain,\nminus 44.1 for Greece and minus 10.5 for Spain.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:41:04.27",
    "places": [
      "belgium",
      "west-germany",
      "netherlands",
      "denmark",
      "france",
      "ireland",
      "uk",
      "italy",
      "spain",
      "greece"
    ],
    "id": "1551"
  },
  {
    "title": "WORLD BANK SAYS S. AMERICAN DEBTORS STILL TALKING",
    "body": "Latin American debtor nations are\nstill willing to negotiate on their debts, World Bank director\nfor Latin America and the Caribbean Rainer Steckhan said.\n    In an article published in today's Handelsblatt daily,\nSteckhan said despite decisions by Peru, Costa Rica, Ecuador\nand Brazil to suspend some interest payments, these nations\nwere still willing to talk constructively about their debts.\n    \"These countries are still prepared to negotiate, and the\ninstruments of cooperation developed thus far provide the means\nto deal with the crisis over time,\" Steckhan said.\n    Several highly indebted nations have made great efforts to\nmeet their debt payments, especially Latin American countries,\nSteckhan said.\n    Chile achieved gross national product growth of five to six\npct last year and quadrupled its trade surplus from 1984,\ndespite lower prices of key commodity exports like copper.\n    Mexico, hit by a catastrophic earthquake and declines in\nworld oil prices also boosted its non-oil exports by one third\nin 1986, the highest growth rate in its post-war history.\n    The World Bank's annual lending to Latin America rose to\n4.8 billion dlrs last year from three billion in 1984, he said.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 11:42:03.68",
    "organisations": [
      "worldbank"
    ],
    "places": [
      "west-germany",
      "peru",
      "costa-rica",
      "brazil",
      "ecuador",
      "chile",
      "mexico"
    ],
    "id": "1552"
  },
  {
    "title": "FED DRAFTS CURRENCY, RATE SWAP RISK GAUGE",
    "body": "The Federal Reserve Board voted\nunanimously to propose a formula for calculating the risk of\ninterest rate and currency swaps as part of its ongoing effort\nto come up with a new capital standard for U.S. banks that\ntakes into account the riskiness of a bank's loans and other\nassets.\n    Fed officials said an identical proposal was being issues\ntoday by the Bank of England.\n    The Fed set a 60-day period for public comment on the plan.\n    The proposal adopted today addresses only the credit risks\nassociated with interest rate swaps, forward foreign exchange\ncontracts and similar financial instruments.\n    Previously, the Fed Jan. 8 proposed a series of guidelines\nfor calculating the risk of other off-balance-sheet activities\nthat banks would be required to take into account in\ncalculating the minimum financial cushion they would need to\nmaintain.\n    Both guidelines set five broad categories of risk for loans\nand other bank assets and assigned to each a level of risk that\nwould establish a bank's minimum capital needs.\n    The additional guidelines proposed today would determine\nthe amount of capital support required for a bank's current\nexposure for a given asset and the potential future exposure.\n    The current exposure would be measured by the\nmark-to-market value of the asset, which would reflect the\nreplacement cost.\n    Potential future increases in the replacement cost would be\ncalculated using credit conversion factors based on statistical\nanalyses by the staffs of the Bank of England and U.S. banking\nregulators. Future exposure would rise over the life of the\nasset.\n    The Fed staff said the risk gauge attempted to balance\nconflicting needs for precision and simplicity.\n    They ignore, for example, the relative volatility of the\nparticular currencies involved in exchange rate contracts.\n    Board officials said the new gauge could increase the\ncapital required of the largest money center banks, which are\nthe principal participants in these types of activities.\n    They cautioned the Fed board to take account of the\npotential impact of the plan on the ability of U.S. banks to\ncompete in world financial markets.\n    However, the staff concluded, \"The credit risks inherent in\nsuch contracts now constitute a significant element of the risk\nprofiles of some banking organizations.\"\n    The Fed proposal would exempt all but the 20-25 largest\nparticipants in this market, on grounds the benefits of\nincluding the smaller banks would be outweighed by costs.\n    Also excluded would be interest rate and foreign exchange\ncontracts traded on organized exchanges.\n    Governor Martha Seger said she was concerned that Japan was\nnot involved in the U.K.-U.S. effort to draft new capital\nrules.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:44:11.07",
    "topics": [
      "interest",
      "money-fx"
    ],
    "places": [
      "usa",
      "uk",
      "japan"
    ],
    "id": "1553"
  },
  {
    "title": "IDEAL SCHOOL SUPPLY CORP  4TH QTR NET",
    "body": "Oper shr 10 cts vs eight cts\n    Oper net 325,000 vs 228,000\n    Sales 7,070,000 vs 6,483,000\n    Avg shrs 3,313,000 vs three mln\n    Year\n    Oper shr 69 cts vs 51 cts\n    Oper net 2,124,000 vs 1,536,000\n    Sales 31.2 mln vs 22.7 mln\n    Avg shrs 3,071,000 vs three mln\n    NOTE: 1986 net both periods includes 72,000 dlr tax credit.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:45:39.41",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1554"
  },
  {
    "title": "SALOMON INC  SETS REGULAR QUARTERLY",
    "body": "Qtly div 16 cts vs 16 cts prior\n    Pay April One\n    Rcord March 20\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:45:44.52",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1555"
  },
  {
    "title": "JANUARY CRUDE OIL MOVEMENTS FALL SEVEN MLN TONS",
    "body": "Worldwide spot crude oil movements fell\nto 30.07 mln long dwt in February from 37.25 mln tons in\nJanuary and 41.44 mln in December, London shipbroker Howard\nHoulder said.\n    The decline mainly reflected a sharp drop in movements out\nof the Mideast Gulf, which totalled 7.4 mln tons last month\nagainst 11.65 mln in January. These included shipments to\nwestern options at 2.05 mln tons against 3.59 mln previously.\n    Liftings from the Gulf to eastern options fell to 4.15 mln\ntons from 5.94 mln and those from the Gulf to other areas\ndropped to 1.2 mln tons from 2.13 mln, Howard Houlder said.\n    U.K./Continent coastal movements declined sharply to 2.91\nmln tons from 4.77 mln but those from the U.K./Continent to the\nU.S. rose to 1.99 mln from 1.69 mln.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:47:04.70",
    "topics": [
      "crude",
      "ship"
    ],
    "places": [
      "uk"
    ],
    "id": "1556"
  },
  {
    "title": "EC SOURCES DETAIL NEW FARM SOCIAL PACKAGE",
    "body": "The 350 mln Ecu three-year package of\nsocial and structural measures agreed early today by European\nCommunity farm ministers features a plan to compensate farmers\nfor reducing output of certain surplus products, EC Commission\nsources said.\n    The ministers agreed that under this \"extensification\"\nscheme, farmers would qualify for compensation if they cut\noutput of specific products by at least 20 pct.\n    The plan would initially apply to cereals, beef, veal and\nwine, they added.\n    Cereals farmers would have to achieve their output cuts by\nreducing acreage, while cattle farmers would reduce their\nnumber of head and vinegrowers would cut yield. In each case,\nfarmers would have to undertake not to step up their capacity\nfor output of other products which are in surplus in the EC.\n    The sources said payment levels have not yet been fixed but\nwill be designed to compensate farmers for loss of profit on\nthe production they forego.\n    The sources said the package also contains provisions for\npayments to farmers who embark on a program aimed at protecting\nor improving the environment.\n    It would also mean compensatory allowances in less favoured\nfarming areas would be extended to crops. At present such\nallowances are available only for livestock.\n    The package would provide 20 mln Ecus for research into\nalternative farming techniques, the sources added.\n    At a news conference EC Farm Commissioner Frans Andriessen\nsaid the Commission is also working on proposals to enable the\nEC and member states to provide direct income supports for\nrelatively poor farmers.\n    Andriessen did not give full details, but said member state\naid would be subject to \"strict criteria to avoid distortion of\ncompetition.\"\n    EC payments would aim to help farmers to survive a\ndifficult period while the EC tackles the problems of surplus\nproduction.\n    The Commission withdrew from the package agreed last night\nproposals to pay \"early retirement\" pensions to farmers aged 55\nor over who gave up production. Those who took their land\ncompletely out of farm production, rather than passing it on to\ntheir heirs, would have received more generous payments.\n    Andriessen said the Commission plans to present revised\nproposals along these lines in an effort to get a scheme\nagreed.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:47:42.77",
    "topics": [
      "livestock",
      "carcass",
      "grain"
    ],
    "organisations": [
      "ec"
    ],
    "places": [
      "belgium"
    ],
    "id": "1557"
  },
  {
    "title": "NATIONAL FUEL  PROPOSES ARGO REORGANIZATION",
    "body": "National Fuel Gas Co said it has\nproposed a plan of reorganization for .\n    The proposal calls for National Fuel's Seneca Resources\nCorp subsidiary to receive 75 pct of Argo's principal producing\nand undeveloped oil and gas assets in return for refinancing\nArgo's debt to Seneca.\n    The plan calls for Seneca to made an additional 500,000 dlr\nadvance to Argo, National Fuel Gas said.\n    National Fuel Gas said it reorganzation was proposed in a\nterm sheet signed by Seneca, Argo and representatives of Argo's\nunsecured creditors committee. Seneca became Argo's principal\nsecured creditor in November when it purchased notes totaling\nabout 40 mln dlrs from Continental Illinois National Bank and\nTrust Co for about 35 mln dlrs.\n    National Fuel Gas said the additional advance to Argo would\nallow it to capitalize, together with other assets, a new\ncompany for its existing shareholders.\n    National Fuel Gas said the plan calls for Argo's existing\nsecured debt to be refinanced in an 8,875,000 dlr refinancing\nnote and a 75 pct interest in Argo's principal oil and gas\nproperties.\n    Seneca and Argo will enter into a venture to be 75 pct\nowned by Seneca and 25 pct by Argo to develop their jointly\nowned properties.\n    In addition to restructuring and refinancing Argo's\nexisting debt, Seneca will provide Argo with a two mln dlr\nrevolving line of credit to finance its 25 pct share of the\nventure's development costs, National Fuel Gas said.\n    It said the proposed plan calls for Argo oil and gas assets\nnot subject to the venture to be transferred to a new\ncorporation. Existing Argo shareholders will receive all the\nnew company's common stock while its unsecured creditors will\nreceive 100 pct of the new capital stock of Argo in exchange\nfor their claims against the company.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:51:31.97",
    "places": [
      "usa"
    ],
    "id": "1558"
  },
  {
    "title": "WEST GERMAN BANK ISSUES LUXEMBOURG FRANC BOND",
    "body": "Landesbank Rheinland-Pfalz\nInternational SA is issuing a 300 mln Luxembourg franc private\nplacement bond with a 7-1/4 pct coupon at par, lead manager\nCaisse d'Epargne de l'Etat du Grand-Duche de Luxembourg said.\n    The five-year, non-callable bullet bond is for payment on\nMarch 24 and coupon payments are annually on March 25.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:54:12.88",
    "places": [
      "luxembourg"
    ],
    "id": "1559"
  },
  {
    "title": "U.S., BRITAIN AGREE FURTHER BANK CAPITAL PROPOSALS",
    "body": "The Bank of England and the U.S. Federal\nReserve Board have agreed new proposals for joint standards to\nmeasure the risk of an array of credit exposures that do not\nshow up in bank balance sheets, the Bank of England said.\n    The plan, covering swaps, forward contracts and options\ninvolving interest or exchange rates, complements proposals\nagreed in January between the two central banks to make\ncommercial banks in the U.S. And Britain subject to similar\nstandards for measuring capital adequacy, the proposal said.\n    It said no final decisions had been reached yet and banks\nhave until April 16 to comment on the trunk proposals.\n    The Bank of England and Fed said they had faced a dilemma.\n    \"On the one hand (we) are determined to require adequate\ncapital support for potential future exposure -- on the other\nhand (we) are concerned that overly stringent capital\nrequirements might unnecessarily affect the ability of U.S. And\nU.K. Banking organisations to price...Contracts competitively.\"\n     At the basis of the new proposals lies the concept of the\nso-called credit equivalent amount - the current value of a\ncurrency or interest rate contract and an estimate of its\npotential change in value due to currency or interest rate\nfluctuations until the contract matures.\n    In treatment similar to that agreed in January for balance\nsheet assets, the credit equivalent will be assigned one of\nfive risk weights between zero and 100 pct, depending on the\nquality of the counterparty, the remaining maturity of the\ncontract and on collaterals or guarantees to the contract, the\nplans showed.\n    The proposal showed that collaterals and guarantees would\nnot be recognised in calculating credit equivalent amounts.\n    They would, however, be reflected in the assignment of risk\nweights. The only guarantees recognised are those given by U.S.\nAnd U.K. Governments or, in the U.S., By domestic national\ngovernment agencies, the proposals showed.\n    The paper said the proposed rules would not cover spot\nforeign exchange contracts and securities traded in futures and\noptions exchanges.\n    It said U.S. Regulatory authorities and the Bank of England\nwere keen to encourage banks to \"net\" contracts -- consolidate\nmultiple contracts with the same counterparty into one single\nagreement to create one single payments stream.\n    It recognised that \"such arrangements may in certain\ncircumstances reduce credit risk and wish to encourage their\nfurther development and implementation,\" and said some of the\ncurrent proposals may be changed to take this into account.\n    The paper said the proposed rules would not cover spot\nforeign exchange contracts and securities traded in futures and\noptions exchanges.\n    It said U.S. Regulatory authorities and the Bank of England\nwere keen to encourage banks to \"net\" contracts -- consolidate\nmultiple contracts with the same counterparty into one single\nagreement to create one single payments stream.\n    It recognised that \"such arrangements may in certain\ncircumstances reduce credit risk and wish to encourage their\nfurther development and implementation,\" and said some of the\ncurrent proposals may be changed to take this into account.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:54:30.77",
    "topics": [
      "money-fx",
      "interest"
    ],
    "places": [
      "uk",
      "usa"
    ],
    "id": "1560"
  },
  {
    "title": "OUTBOARD MARINE  KNOWS NO REASON STOCK IS UP",
    "body": "Outboard Marine Corp, whose stock is\ntrading higher, said there were no corporate developments to\naccount for the rise.\n    Outboard Marine was up 2-1/2 to 34 with 48,000 shares\ntraded.\n    A spokesman said the company wasn't planning any\nannouncements. Several analysts who follow the company also did\nnot know why Outboard was trading higher.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:55:38.67",
    "places": [
      "usa"
    ],
    "id": "1561"
  },
  {
    "title": "PIEDMONT AVIATION  BOARD TO MEET TODAY",
    "body": "Piedmont Avaition Inc's board of\ndirectors will conduct a special meeting beginning at 1400 est\ntoday, a Piedmont spokesman said.\n    The spokesman would not say what was on the agenda.\n    In mid-February, Piedmont said its board would meet to\ndiscuss all proposals to acquire the company. Its board also\nwithdrew a recommendation to accept a 65 dlrs a share cash\noffer from Norfolk Southern Corp  in light of a competing\nrevised bid from U.S. Air Group Inc . U.S. Air offer to buy\n50 pct of the company's stock for 71 dlrs a share cash, and the\nremaining for 73 dlrs a share of its stock.\n\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:56:08.10",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1562"
  },
  {
    "title": "FIRST UNION  LEAVES DIVIDEND UNCHANGED",
    "body": "First Union Real Estate Investments\nsaid its board left the quarterly dividend unchanged at 37-1/2\ncts per share, payable April 30, record March 31.\n    The trust, which has raised its quarterly dividend\nfrequently in the past two years and in the first quarter in\nboth years, said the Tax Reform Act of 1986 has limited its\nflexibility on dividends, and trustees will now consider the\nappropriateness of any dividend increases only during the later\nquarters of the year.\n\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:56:15.11",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1563"
  },
  {
    "title": "RYKOFF-SEXTON INC  3RD QTR JAN 31 NET",
    "body": "Shr 21 cts vs 28 cts\n    Net 1,456,000 vs 1,925,000\n    Sales 258.7 mln vs 290.2 mln\n    Nine Mths\n    Shr 77 cts vs 1.10 dlrs\n    Net 5,384,000 vs 7,658,000\n    Sales 804.3 mln vs 760.1 mln\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:56:34.72",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1564"
  },
  {
    "title": "JAMAICA WILL MAKE NEW DRAWING UNDER IMF PROGRAM",
    "body": "Jamaica will draw down 40.9 mln Special\nDrawing Rights (SDRs) from the International Monetary Fund\nfollowing IMF approval yesterday of a new credit program for\nthe island, the government announced.\n    Financing from the compensatory facility is meant to offset\nlosses in export earnings and does not carry the same\nconditions attached to other IMF loans.\n    The government will also receive 85 mln SDRs under a new\nstand-by agreement. The new credit agreement signed in January\nwas originally to last 15 months, but the government now says\nit will go for one year beginning this month.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 11:57:12.06",
    "organisations": [
      "imf"
    ],
    "places": [
      "jamaica"
    ],
    "id": "1565"
  },
  {
    "title": "SYSTEM SOFTWARE ASSOCIATES  1ST QTR NET",
    "body": "Periods end January 31, 1987 and 1986\n    Shr 12 cts vs nine cts\n    Net 507,000 vs 362,000\n    Revs 5,010,000 vs 3,558,000\n    NOTE: System Software Associates Inc is full name of\ncompany.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:59:08.39",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1566"
  },
  {
    "title": "GEICO CORP  RAISES QTRLY DIVIDEND",
    "body": "Qtrly div 34 cts vs 27 cts prior\n    Pay March 31\n    Record March 16\n\n Reuter\n\u0003",
    "date": " 4-MAR-1987 11:59:47.66",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1567"
  },
  {
    "title": "STANLEY WORKS  SETS QUARTERLY",
    "body": "Qtly div 19 cts vs 19 cts prior\n    Pay March 31\n    Record March 12\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:00:11.18",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1568"
  },
  {
    "title": "NOVELL INC  1ST QTR JAN 31 NET",
    "body": "Shr 31 cts vs 20 cts\n    Net 3,541,000 vs 2,071,000\n    Sales 29.9 mln vs 14.5 mln\n    Avg shrs 11.6 mln vs 10.4 mln\n    NOTE Fourteen vs 13-week periods.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:00:40.23",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1569"
  },
  {
    "title": "FROST NOT EXPECTED TO DAMAGE POLAND'S WHEAT",
    "body": "Poland's winter wheat is likely to\nsurvive recent frosts but the impact of the cold will not be\nknown until late April, the Polish meteorology institute said.\n    Some varieties of winter wheat sown in Poland can survive\nground temperatures as low as minus 20 degrees C, Spokesman\nTeresa Tomaszewska told Reuters.\n    Even though an earlier thin protective layer of snow mainly\nmelted in February, air temperatures down to minus 30 C should\nnot be harmful, she said, but added that wheat can still be\ndamaged by cold spells in March and April, when young shoots\nmay be exposed to night frosts.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:01:01.21",
    "topics": [
      "grain",
      "wheat"
    ],
    "places": [
      "poland"
    ],
    "id": "1570"
  },
  {
    "title": "BROWN-FORMAN  TO CHANGE RECORD DATES",
    "body": "Brown-Forman Inc said at the\nsuggestion of the American Stock Exchange it has changed the\nrecord date for the 28 ct per share quarterly dividend on its\nClass A and Class B common stock that is payable April One to\nMarch 20 from March 13, to coincide with the record date for a\nthree-for-two stock split declared February 26.\n    It said the record date for the dividend on its four pct\ncumulative preferred stock has also been changed to March 20\nfrom March 13.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:01:23.50",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1571"
  },
  {
    "title": "GOODYEAR TIRE  DETAILS 1986 TAX REFUND",
    "body": "Goodyear Tire and Rubber Co said its\n1986 results include a tax refund of 75.7 mln dlrs from the\ncosts of restructuring the company in a successful defense\nagainst a takeover attempt by James Goldsmith.\n    Chairman Robert Mercer said, \"Heavy restructuring costs\nrelated to the takeover attempt combined with government tax\nincentives for investments ... resulted in this federal tax\nrefund.\"\n    The refund was included but not broken out in its initial\n1986 results, a spokesman said. It reported 1986 net income of\n124.1 mln dlrs against 412.4 mln dlrs a year earlier.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:01:32.39",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1572"
  },
  {
    "title": "GEICO CORP  NAMES NEW BOARD MEMBERS",
    "body": "Geico Corp said it named two\nboard members, W. Reid Thompson, chairman and the chief\nexecutive officer of Potomac Electric Power Company, and Norma\nBrown, major general US Air Force retired.\n   \n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:02:14.35",
    "places": [
      "usa"
    ],
    "id": "1573"
  },
  {
    "title": "U.S. PRESENTS MOSCOW WITH DRAFT MISSILE TREATY",
    "body": "The United States today handed Soviet\narms negotiators a draft treaty which would eliminate all\nsuperpower medium-range nuclear missiles in Europe and slash\nsuch weapons elsewhere to 100 warheads on each side.\n    Maynard Glitman, who heads the American team discussing\nmedium-range nuclear forces, told reporters the document, \"a\nfull treaty text,\" was now on the negotiating table.\n    The proposal responds to a new Soviet offer to abolish\n\"Euromissiles\" and cut sharply medium-range nuclear forces\nelsewhere announced by Mikhail Gorbachev last Saturday.\n    The developments have been described by many disarmament\nexperts as the first real opening for a superpower accord since\nthey resumed arms control talks in March 1985.\n    Glitman presented the draft treaty during a one and a half\nhour meeting at the American diplomatic mission with the Soviet\nteam on medium-range missiles headed by Lem Masterkov.\n    He told reporters: \"It is a complete document. It has to be\nbecause we want precision. We don't want any ambiguities.\"\n    The draft called for elimination - removal and destruction\n- of all superpower medium-range missiles in Europe over five\nyears and reduction elsewhere during that period to 100 atomic\nwarheads on each side, Glitman added.\n    In Europe, this includes 270 Soviet triple-warhead SS-20's\nand 316 single-warhead U.S. Pershing-2 and cruise missiles.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:03:07.65",
    "places": [
      "switzerland",
      "usa",
      "ussr"
    ],
    "id": "1574"
  },
  {
    "title": "GREAT NORTHERN NEKOOSA  ANNOUNCES SPLIT",
    "body": "The Great Northern Nekoosa Corp\nsaid it will recommend to shareholders a two-for-one common\nstock split.\n    The company said it will make the proposal to shareowners\nat its annual mmeting May 6 in Dothan, Ala., near the company's\nGreat Southern Paper division operations.\n    In conjunction with the stock split proposal, the\nshareowners will be asked to approve an increase in the\nauthorized common stock from 60 mln to 150 mln shares, the\ncompany said.\n    The company said it will propose an increase in its\ndividend rate if the split is approved effective with the June\npayment.\n    The company said the present rate on GNN common is 43 cts\nper share. The company said it would recommend a quarterly rate\nof 23 cts a share on the split stock. This would be equal to a\ndividend of 46 cts a share on the present common, seven pct\nhigher than the current rate.\n    The company said it had increased the dividend by 13 pct\nlast December. Great Northern Nekoosa's last common stock\nsplit, a three-for-two, was in December 1983, it said.\n    As of Dec 31, 1986, there were 26,661,770 shares of GNN\ncommon stock outstanding, according to the company.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:03:37.98",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1575"
  },
  {
    "title": "CONED  AGREES TO CUT RATES, WRITE OFF DEBITS",
    "body": "Consolidated Edison Co of New York Inc\nhas agreed to reduce its rates 3.1 pct next month and write-off\n50 mln dlrs of deferred debits, New York Governor Mario M.\nCuomo said.\n    He told a press conference the 132.5 mln dlr reduction in\nannual rates, along with the removal of 50 mln dlrs in fuel\ncharges from base rates are part of an agreement which will\nreduce the utility's base electric rates by about 500 mln dlrs\nper year over the next three years and bar any rate increases\nuntil at least April 1990.\n    Governor Cuomo said the agreement with Con Ed, which must\nbe approved by the State Public Service Commission, was\nnegotiated by the State Consumer Protection Board, Public\nServcice commission Trial Staff, the State Attorney General,\nthe City of New York and several other parties.\n    He said the agreement \"will produce the first base eldctric\nrate decrease for Con Edison in more than 20 years.\n    As a result of an earlier stipulation, we have already had\na four year freeze on Con Edison's base electric rates since\nMarch 1983,\" he added.\n    Con Edison said the agreement reflects reduced federal\ntaxes and lower interest rates.\n    The utility said another factor includes improved economic\nconditions in the New York City area, which led to increased\nsales.\n    It pointed out \"declining fuel costs have resulted in an\naverage 10 pct decrease in our customers' bills since 1984.\"\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:04:49.11",
    "places": [
      "usa"
    ],
    "id": "1576"
  },
  {
    "title": "HARRIS LIFTS BUILDERS TRANSPORT  STAKE",
    "body": "Harris Associates L.P., a Chicago\ninvestment advisor, said it raised its stake in Builders\nTransport Inc to the equivalent of 466,754 shares, or 9.1 pct\nof the total outstanding, from 335,800 shares, or 6.7 pct.\n    In a filing with the Securities and Exchange Commission,\nHarris said it bought 36,700 Builders Transport common shares\non Feb 10 at 17 dlrs a share. It also said it bought debentures\non Feb 23 that could be converted into 94,254 shares.\n    Harris said its dealings in Builders Transport were on\nbehalf of its advisory clients. It has also said it has no\nintention of seeking control of the company.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:06:21.01",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1577"
  },
  {
    "title": "PAINE WEBBER  IN FOUR MLN SHARE OFFERING",
    "body": "PaineWebber Inc, The First Boston Corp\n and Salomon Inc  said Paine Webber Group Inc has\nmade a public offering of four mln shares of 1.375 dlrs\nconvertible exchangeable preferred stock, with a liquidation\npreferance of 25 dlrs per share.\n    The firms, co-managers of the underwriting group, said\nPaine Webber originally planned to offer 3.6 mln shares.\n    They added the shares are covertible into Paine Webber\nGroup's common stock at a conversion price of 44.125 dlrs a\nshare.\n    The underwriters also said the Paine Webber Group will use\nthe offering's proceeds to redeem about 60 mln dlrs of\ndebentures due 2008 and for general corporate purposes.\n    They added that the preferred stock is redeemable, at the\ncompany's option, at prices declining to 25 dlrs per share on\nand after March 15, 1997.\n    But, they said its is not redeemable before March 15, 1989,\nunless Paine Webber Group's common stock price equal or\nexceeding 140 pct of the conversion price at the time.\n    The group added the preferred stock also can be exchanged\non any dividend payment date beginning June 15, 1989, for the\ncompany's 5-1/2 pct convertible subordinated debentures due\nJune 15, 2017.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:06:59.57",
    "places": [
      "usa"
    ],
    "id": "1578"
  },
  {
    "title": "COFFEE TALKS FAILURE SEEN PRESSURING U.S.",
    "body": "Failure of talks on re-establishing\nInternational Coffee Organization, ICO, coffee quotas last week\nmay put political pressure on the United States, particularly\nthe State Department, to reassess its position, but the U.S. is\nunlikely to back away from its basic demand quotas be set by\n\"objective criteria\", U.S. officials said.\n    Jon Rosenbaum, assistant U.S. trade representative and head\nof Washington's delegation to the talks, told Reuters on his\nreturn from London that the United States is willing to resume\nthe coffee negotiations as early as April if necessary.\n    Rosenbaum said the United States will be \"flexible\" in\ndiscussing the method of establishing objective criteria and\nany transition to new quotas, but not on the basic aim of\nestablishing an objective method of setting quotas.\n    At the ICO talks major consuming nations, led by the U.S.,\nproposed that future coffee export quota shares be calculated\nby a formula incorporating a producer's recent exportable\nproduction and verified stocks, while large producers led by\nBrazil proposed maintaining the traditional ad hoc division of\nshares. The consumer position would have in effect reduced the\nmarket share of Brazil, by far the world's largest producer.\n    Rosenbaum said the administration would continue to support\nlegislation now before Congress which would allow the U.S.\ncustoms service to monitor coffee imports, as a way to comply\nwith any future coffee quotas.\n    He said the Reagan administration would be reviewing the\ncoffee policy situation following the collapse of the London\ntalks, but \"nobody is proposing we change our position.\"\n    However, other U.S. government officials involved in coffee\npolicy said they are bracing for a diplomatic and coffee market\noffensive from producer countries, led by Brazil and Colombia,\nto soften the consumer position.\n    \"Knowing that its next crop is fairly large, Brazil will\nkind of want to test the resolve of other producers and\nconsumers,\" said one U.S. official.\n    The U.S. official, who asked not to be identified, said\nBrazil and Colombia may flood the coffee market in the next few\nmonths in an effort to drive down prices and pressure other\ncountries, particularly the splinter group of small producers\nwho differed with the major producers in London.\n    This in turn could lead to urgent appeals from Latin\nAmerican countries, faced with mounting debt problems, to the\nU.S. State department, and to the National Security Council in\nthe White House, for an easing of the U.S. position, U.S.\nofficials said.\n    The State department, a major player in setting U.S. coffee\npolicy, may then face conflicting pressures, particularly from\npolitically-sensitive U.S. allies in Central America, U.S.\nofficials said.\n    El Salvador and Guatemala both backed Brazil and Colombia\nat the London talks in resisting pressures for quotas based on\nobjective criteria. But the Dominican Republic and Costa Rica\njoined the splinter group, which said it would agree to\nobjective criteria.\n    There is a strong feeling among some in the State\nDepartment that the United States should continue to support\nthe splinter group of producers who have taken the\npolitically-risky step of opposing Brazil on the objective\ncriteria question, U.S. officials said.\n    Within the consuming countries there also is expected to be\nsome pressure to reassess positions.\n    In London, the U.S. was supported by the U.K., the\nNetherlands, West Germany, Japan, Australia and New Zealand on\nthe issue of objective criteria, U.S. officials said.\n    This bloc represented enough votes among consuming nations\nto successfully prevent adoption of the producer proposals.\n    However, U.S. sources said West Germany's support was at\ntimes qualified and there is some concern that the European\nCommunity could come under pressure to be more accommodative to\nproducers in future talks. France backed the Ivory Coast and\nother African producers during the talks.\n    A softening of the EC stance would make it more difficult,\nalthough not impossible, for the U.S. to block producer plans.\n    While political manuevering by small producers and\nconsuming countries will be important, U.S. officials said the\nkey to any future outcome will be Brazil's position.\n    U.S. officials blamed Brazil's intransigence for the\nfailure of the talks and said a more flexible position from\nBrasilia would be the most important step toward agreement.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:07:39.63",
    "topics": [
      "coffee"
    ],
    "organisations": [
      "ico-coffee",
      "ec"
    ],
    "places": [
      "usa",
      "brazil",
      "colombia",
      "el-salvador",
      "guatemala",
      "netherlands",
      "west-germany",
      "australia",
      "new-zealand",
      "uk",
      "japan",
      "dominican-republic",
      "costa-rica"
    ],
    "id": "1579"
  },
  {
    "title": "IBM  DEMONSTRATES NEW CHIP",
    "body": "International Business\nMachines Corp said it demonstrated an experimental computer\nchip called an opto-electronic receiver that transforms light\ninto electrical signals that translate into computer language.\n    IBM said the chip is two times faster than any similar chip\nreported and can read 40 encyclopedia volumes a second.\n    The chip is made of gallium arsenide which moves electrical\nsignals faster than the silicon used in most computer circuits.\n    IBM also said that since gallium arsenide is more efficient\nin turning light signals into electrical signals, it seems to\nbe an ideal material for the light-based computer\ncommunications expected to be widely used in the future.\n    The chip's speed is also enhanced through the elimination\nof wiring by placing the functionally dissimilar photodetector\nand transistor circuitry close together.\n    Bringing these elements closer together also isolates the\nreceiver from other electronic circuits and reduces noise and\ndistortion, it said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:09:18.24",
    "places": [
      "usa"
    ],
    "id": "1580"
  },
  {
    "title": "INVESTORS HAVE 12.9 PCT OF EXOVIR ",
    "body": "Mark Hammer, a private investor from\nMelville, N.Y., and members of his family told the Securities\nand Exchange Commission they have acquired a total of 375,200\nshares of Exovir Inc, or 12.9 pct of the total outstanding.\n    Hammer said his group has been accumulating Exovir stock\nsince Oct 28, 1985 for investment purposes and may buy more\nshares or sell all or part of his current stake.\n    While he said he has no intention of seeking control of the\ncompany, Hammer said that because of his \"extensive business\nexperience\" and his interest in Exovir stock, he may be\n\"invited\" to become a member of the company's board.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:12:01.10",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1581"
  },
  {
    "title": "TORRENTIAL RAINS HALT ARGENTINE GRAIN HARVEST",
    "body": "Torrential rains throughout\nArgentina's grain-producing areas virtually paralysed coarse\ngrain harvesting in the week to yesterday, trade sources said.\n    Sunflower, maize and sorghum harvests were particularly\naffected, they said. But the rains proved to be a great aid to\nsoybean crops as their harvesting will not begin until April or\nMay.\n    The rains did no damage to maize, sunflower and sorghum\ncrops though fresh rains in similar volume could reduce yields\nand cut the total volume of this year's harvest.\n    Rainfall measured between 15 and 270 mm in Buenos Aires,\nwith the heaviest rains in the province's western sectors,\nbetween 15 and 100 mm in Cordoba, 15 and 120 mm in La Pampa, 10\nand 75 mm in Santa Fe, 10 and 60 mm in Entre Rios, five and 40\nmm in Misiones, and five and 50 mm in San Luis.\n    No rain was recorded in Corrientes, Chaco and Formosa.\n    Growers did not revise their estimates for total volume of\nthe coarse grain harvest over last week's estimates.\n    Maize harvesting continued moving forward in central Santa\nFe, though slowly. Growers had harvested seven to nine pct of\ntotal planted area, compared to five to seven pct last week.\n    Total maize area planted for the 1986/87 harvest was\nestimated at between 3.58 and 3.78 mln hectares, or two to\nseven pct less than the 3.85 mln hectares planted in the\n1985/86 harvest.\n    Maize production is expected to total between 10.4 and 11\nmln tonnes, or a drop of 17.5 to 19.4 pct over the 12.4 to 12.6\nmln tonnes harvested last year according to private estimates,\nor 18.9 to 21.9 pct lower than last year's volume, according to\nofficial figures.\n    The sunflower harvest advanced to between seven and nine\npct of total planted area.\n    Two to 2.2 mln hectares have been planted with sunflowers\nfor this harvest, down 29.9 to 36.3 pct from last year's figure\nof 3.14 mln hectares.\n    Sunflower production is expected to total between 2.4 mln\nand 2.7 mln tonnes, which would mean a drop of between 34.1 and\n41.5 pct against the record 4.1 mln tonnes harvested in the\n1985/86 harvest.\n    Grain sorghum harvesting inched forward to between two and\nfour pct of total planted area, which this harvest is 1.23 to\n1.30 mln hectares or 10.3 to 15.2 pct less than the 1.45 mln\nhectares planted in the 1985/86 harvest.\n    Sorghum production is expected to total between 3.2 mln and\n3.5 mln tonnes, or 16.7 to 22 pct less than the 4.1 to 4.2\nmillion tonnes harvested in 1985/86.\n    Soybean production, by contrast, is expected to hit a\nrecord 8.0 to 8.4 mln tonnes, which would mean an increase of\n11.1 to 15.1 pct over last year's record figure of 7.2 to 7.3\nmln tonnes, according to private estimates. Official figures\nput last year's soybean harvest at 7.1 mln tonnes.\n    Soybean crops were reported to be in generally very good\ncondition, helped by abundant rains and high temperatures.\n    Total soybean-planted area for the 1986/87 harvest is\nexpected to be a record 3.7 to 3.8 mln hectares, up 10.8 to\n13.8 pct from last year's harvest figure of 3.34 mln hectares.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:12:30.30",
    "topics": [
      "grain",
      "corn",
      "sorghum",
      "oilseed",
      "sunseed",
      "soybean"
    ],
    "places": [
      "argentina"
    ],
    "id": "1582"
  },
  {
    "title": "DELTA  UNIT POSTS LOWER LOAD FACTOR",
    "body": "The Western Airlines unit of Delta\nAir Lines Inc said its February load factor fell to 52.6 pct\nfrom 57 pct a year earlier and its year-to-date load factor was\ndown to 52.2 pct from 54.8 pct during the same period last\nyear.\n    February revenue passenger miles rose to 790 mln from 786\nmln a year earlier and year-to-date revenue miles were up to\n1.64 billion from 1.60 billion.\n    Available seat miles for the month increased to 1.50\nbillion from 1.38 billion and for the first two months of the\nyear available miles were up to 3.14 billion from 2.92 billion,\nWestern Airlines said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:14:28.95",
    "places": [
      "usa"
    ],
    "id": "1583"
  },
  {
    "title": "LOTUS  TO ACQUIRE ",
    "body": "Lotus Development Corp said it\nhas signed a letter of intent to acquire substantially all of\nthe assets of Computer Access Corp for undisclosed terms.\n    Computer Asscess makes BlueFish full-text search and\nretrieval software for International Business Machines Corp\n and compatible personal computers.\n    The company said the acquisition is subject to approval by\nboth boards.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:14:37.13",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1584"
  },
  {
    "title": "EQUITABLE OF IOWA COS  4TH QTR NET",
    "body": "Oper shr 78 cts vs 51 cts\n    Oper net 7,030,000 vs 4,944,000\n    Revs 126.6 mln vs 120.9 mln\n    Year\n    Oper shr 1.59 dlrs vs 89 cts\n    Oper net 14.7 mln vs 9,864,000\n    Revs 425.1 mln vs 416.9 mln\n    NOTE: Net excludes realized gains on investment of 73,000\ndlrs vs 4,224,000 dlrs in quarter and 6,253,000 vs 14.5 mln\ndlrs in year.\n    Net excludes discontinued Massachusetts Casualty operations\nloss 5,180,000 dlrs vs gain 778,000 dlrs in quarter and gain\n9,214,000 dlrs vs gain 3,504,000 dlrs in year.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:14:50.32",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1585"
  },
  {
    "title": "CORROON AND BLACK CORP  RAISES QUARTERLY",
    "body": "Qtly div 21 cts vs 16-1/4 cts prior\n    Pay April One\n    Record March 17\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:15:58.03",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1586"
  },
  {
    "title": "CHEYENNE RESOURCES  COMPLETES RESTRUCTURE",
    "body": "Cheyenne Resources Inc said it\nhas restructured its 499,750 debt to the First Interstate Bank\nof Denver to 250,000.\n    It said it gave the bank 500,000 shares of restricted\nCheyenne Resources common stock. It said it would pay the\nbalance on a monthly basis over 28 months.\n    Cheyenne also reported it had settled out of court a\n112,000 dlr judgment against it for 60,000 dlrs. It said the\njudgment involved a land sale which Cheyenne refused payment on\nafter it learned it was not the land advertised in the sale.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:16:31.37",
    "places": [
      "usa"
    ],
    "id": "1587"
  },
  {
    "title": "EC APPOINTS NEW TRADE CHIEF",
    "body": "The European Community Commission today\nappointed its chief spokesman, Hugo Paemen, as its top official\nin charge of multilateral trade negotiations, a Commission\nspokesman said.\n    Paemen, a Belgian official who had previously been chief\naide to former External Affairs Commissioner Etienne Davignon,\nhas been in his post since January 1985.\n    The spokesman said Paemen will continue as chief spokesman\nuntil the retirement on May 1 of Paul Luyten, who is now in\ncharge of EC departments handling negotiations in the world\ntrade body GATT, the OECD and other forums.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:17:33.20",
    "topics": [
      "trade"
    ],
    "organisations": [
      "ec",
      "gatt"
    ],
    "places": [
      "belgium"
    ],
    "id": "1588"
  },
  {
    "title": "EASTMAN KODAK CO FILES 900 MLN DLR DEBT SHELF REGISTRATION\n",
    "date": " 4-MAR-1987 12:20:16.93",
    "id": "1589"
  },
  {
    "title": "U.S. SENATOR TO PROPOSE 0/92 FOR 1987 CROPS",
    "body": "Sen. Rudy Boschwitz, R-Minn., said he\nintended to offer legislation that would allow 1987 producers\nof wheat, feedgrains, cotton and rice to receive at least 92\npct of their deficiency payments, regardless of how much they\nplanted.\n    Boschwitz told the Senate Agriculture Committee that\napplying the so-called 0/92 provision to 1987 crops was\nsupported by the Reagan administration and would save\napproximately 500 mln dlrs, including 266 mln dlrs in corn\npayments, 90 mln dlrs in wheat and 30 mln dlrs in cotton.\n    The Minnesota senator said he might offer the bill on the\nSenate floor or in a conference committee with the House of\nRepresentatives in the event a similar bill before the House\nAgriculture Committee is approved by that body.\n    Boschwitz told Reuters that neither he nor the U.S.\nAgriculture Department had decided whether or how deficiency\npayments should be guaranteed to farmers who might choose not\nto plant under the decoupling scheme.\n    If payments are not set in advance under decoupling, market\nprices conceivably could rise, thereby leading to diminished\ndeficiency payments.\n    Senate Agriculture Committee Chairman Patrick Leahy, D-Vt.,\nsaid he wanted to go to conference with the House as soon as\npossible on the issue, but would have to study the matter\nfurther before deciding how he would vote on it.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:20:29.29",
    "topics": [
      "grain",
      "wheat",
      "cotton",
      "rice"
    ],
    "places": [
      "usa"
    ],
    "id": "1590"
  },
  {
    "title": "BRAZILIAN FINANCE MINISTER MEETS SWISS OFFICIALS",
    "body": "Brazilian Finance Minister Dilson Funaro\nmet his Swiss counterpart Otto Stich, Swiss Economics Minister\nJean-Pascal Delamuraz and National Bank President Pierre\nLanguetin on the fourth leg of a tour to discuss his country's\ndebt problems.\n    Funaro told reporters his trip, which has already taken him\nto London, Paris and Bonn, was aimed at explaining his\ncountry's stance to governments. Talks with commercial banks\nwill take place at a later date.\n    Funaro said a mechanism would have to be found to end\nBrazil's debt crisis but it would not be easy.\n    Brazil would not repeat the measures it took in response to\nits debt crisis of 1982, which he said had provoked the biggest\nrecession in his country's history, he added.\n    He said European and Japanese banks were showing a more\nflexible attitude towards Brazil's problems than U.S. Banks and\nit was difficult to discuss capitalisation with the latter.\n    A Swiss official said the Brazilian delegation had made no\ndemands.\n    Funaro, who travels to Italy this evening, said it was\nunclear if he would go to Japan on Friday or return to Brazil\nfirst.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 12:20:50.04",
    "places": [
      "brazil",
      "switzerland"
    ],
    "id": "1591"
  },
  {
    "title": "CHRYSLER LATE-FEBRUARY U.S.-BUILT CAR SALES UP 11 PCT\n",
    "date": " 4-MAR-1987 12:23:06.54",
    "id": "1592"
  },
  {
    "title": "UAW TO MEET WITH PRESS THIS AFTERNOON ON AMERICAN MOTORS\n",
    "date": " 4-MAR-1987 12:23:44.00",
    "id": "1593"
  },
  {
    "title": "GATT TO RULE ON U.S. CUSTOMS USER FEE DISPUTE",
    "body": "The world trade body GATT has decided to\nset up an arbitration panel to rule on objections by Canada and\nthe European Community to a customs user fee imposed by the\nU.S. Government, a GATT spokesman said.\n    Canada and the EC told a GATT (General Agreement on Tariffs\nand Trade) council meeting that the fee, which imposes a tax on\nan ad valorem basis on imports as of December 1, 1986, is\nillegal under GATT rules.\n    U.S. Ambassador Michael Samuels said the fee, imposed by\nthe U.S. To help cover customs expenditure as part of the\nConsolidated Omnibus Budget Reconciliation Act of 1985, does\nnot breach GATT rules and is similar to fees charged by many\nother countries.\n    Samuels suggested that a working party be set up to examine\nthe dispute, instead of a panel empowered to rule on it.\n    In another development, Hong Kong, supported by a large\nnumber of developing countries, attacked the \"textile and\napparel trade act of 1987\" introduced in the U.S. Congress last\nFebruary 19.\n    Hong Kong representative Michael Cartland said the bill is\n\"blatantly protectionist.\" He added there is \"almost nothing about\nthe bill which could be regarded as in any way consistent with\neither the GATT or the Multi-Fibre Arrangement (MFA).\"\n    If the bill were to be passed by Congress, Cartland said \"it\nwould forestall any attempt to negotiate liberalisation of\nworld trade in textiles.\"\n    GATT's council also decided to set up a working party to\nstudy China's application for full GATT membership. The group\nis due to report to the next GATT council meeting on April 15.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:24:29.75",
    "organisations": [
      "gatt"
    ],
    "places": [
      "switzerland",
      "usa",
      "hong-kong"
    ],
    "id": "1594"
  },
  {
    "title": "NATIONAL HEALTHCARE  GETS DEFAULT WAIVERS",
    "body": "National Healthcare Inc said it has\nreceived a waiver until May 26 of its technical defaults under\ncovenants of its bank credit agreement.\n    The company said that under an amendment to the credit\nagreement, its line of credit has been cut to 125 mln dlrs due\nto reduced requirements for acquisition financing, interest on\nall borrowings has been increased and National Healthcare has\nagreed to provide additional collateral.\n    It said the banks have advanced it another six mln dlrs for\nworking capital, bringing the total borrowed against the line\nto about 120 mln dlrs.\n    National Healthcare said that during the waiver period it\nintends to seek more permanent modifications to covenants of\nthe bank credit agreement.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:29:32.46",
    "places": [
      "usa"
    ],
    "id": "1595"
  },
  {
    "title": "MCDONALD'S  FILES 300 MLN DLRS SHELF OFFER",
    "body": "McDonald's Corp said it filed a\nshelf registration with the Securities and Exchange Commission\ncovering 300 mln dlrs of debt securities.\n    McDonald's said it intends to issue the securities from\ntime to time, denominated in U.S. dollars, and/or other\ncurrencies including European Currency Units.\n    Proceeds may be used for debt refinancings, capital\nexpenditures and other general corporate purposes, the company\nsaid.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:30:20.84",
    "places": [
      "usa"
    ],
    "id": "1596"
  },
  {
    "title": "EC DAIRY PACT MAY DISRUPT MARKET - DUTCH FARMERS",
    "body": "The new European Community dairy\nregime agreed last night is too complicated and may destabilise\nprices, Abele Kuypers, secretary of the dairy section of the\nDutch farmers' organisation Landbouwschap said.\n    He welcomed the decision to write off existing stocks of\nbutter and skimmed milk powder and agreed there should be some\nreduction of pressure on stores but said the Landbouwschap was\nunhappy at the mechanism for limiting sales to intervention\nexcept when prices fall too far.\n    But Harm Schelhaas, chairman of the Milk Commodity Board,\nwas less worried by the new dairy regime. Dutch milk output\nwill fall by up to six pct this year due to the new regime, but\ncheese output should rise, he said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:31:27.41",
    "organisations": [
      "ec"
    ],
    "places": [
      "netherlands"
    ],
    "id": "1597"
  },
  {
    "title": "INDIA BUYS UP TO 10 CARGOES SUGAR - TRADERS",
    "body": "India bought up to 10 cargoes of white\nsugar at a buying tender today which originally called for just\ntwo to three cargoes of March/April shipment, traders said.\n    London trader E D and F Man said it sold two cargoes at 233\ndlrs a tonne CIF for March/April shipment with an option to\nsell an additional two cargoes at the same price.\n    Traders said at least one other international trader made a\nsimilar contract while a French house sold two cargoes at an\noutright price of 233 dlrs CIF without the option. This brought\ntotal Indian purchases to at least six cargoes with traders\nhaving options to sell another four.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:32:08.30",
    "topics": [
      "sugar"
    ],
    "places": [
      "uk",
      "india"
    ],
    "id": "1598"
  },
  {
    "title": "CHRYSLER  LATE-FEBRUARY SALES RISE 11 PCT",
    "body": "Chrysler Corp said sales of its\nU.S.-built cars rose 11 pct in the February 20-28 period to\n30,634 units compared to 27,526 in the period a year ago.\n    There were seven selling days in both periods.\n    For the month of February sales fell two pct to 78,508 cars\nfrom 80,322 a year ago.\n    Year-to-date sales were not immediately available.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:32:50.32",
    "places": [
      "usa"
    ],
    "id": "1599"
  },
  {
    "title": "TWA  GETS LONDON/BALTIMORE ROUTE",
    "body": "The Department of Transportation said\nit has tentatively awarded the Baltimore to London route to\nTrans World Airlines Inc.\n    The DOT issued a show cause order which give interested\nparties seven days to question the decision.\n    In addition, the White House must decide on the choice\nunder foreign policy and national security grounds.\n    The DOT said the route became avaialable when it was\nabandoned last September by World Airways Inc.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 12:34:17.04",
    "places": [
      "usa",
      "uk"
    ],
    "id": "1600"
  },
  {
    "title": "HAYES-ALBION  DELAYS SPECIAL MEETING",
    "body": "Hayes-Albion Corp said it has\ndelayed the special meeting at which shareholders will vote on\nits merger into Harvard Industries Inc  until March 24\nfrom March 17 due to a delay in Securities and Exchange\nCommission clearance of proxy materials.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:35:09.19",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1601"
  },
  {
    "title": "GROSSMAN'S INC  4TH QTR LOSS",
    "body": "Oper shr loss nine cts vs profit 12 cts\n    Oper net loss 1,791,000 vs profit 2,336,000\n    Sales 242.9 mln vs 225.8 mln\n    Year\n    Oper shr profit 15 cts vs loss 17 cts\n    Oper net profit 2,925,000 vs loss 3,324,000\n    Sales 1.01 billion vs 875.6 mln\n    NOTE: Net includes discontinued operations gain 2,437,000\ndlrs vs loss 190.0 mln dlrs in quarter and losses 75.6 mln dlrs\nvs 227.7 mln dlrs in year.\n    Net includes loss 294,000 dlrs vs nil in quarter and gain\n224.8 mln dlrs vs loss 1,750,000 dlrs in year from settlement\nof liabilities under plan of reorganization from Chapter 11\nbankruptcy.\n    1986 quarter net includes 2,300,000 dlr provision for loss\non future store closings offset by reduction in pension\nliabilities.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:36:48.56",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1602"
  },
  {
    "title": "EASTMAN KODAK  FILES FOR DEBT OFFERING",
    "body": "Eastman Kodak Co said it filed a\nshelf registration with the Securities and Exchange commission\nfor debt securities totaling 900 mln dlrs.\n    The company, which has 576,000 dlrs remaining from a shelf\nregistration of 450 mln dlrs last June, said the borrowing is\nintended for general corporate purposes, including the\nrefinancing of existing indebtedness, additions to working\ncapital, capital expenditures and acquisitions.\n    Kodak said there is no specific need at this time.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:39:01.13",
    "places": [
      "usa"
    ],
    "id": "1603"
  },
  {
    "title": "CENTERIOR ENERGY CORP  REDEEMING BONDS",
    "body": "Centerior Energy Corp's Cleveland\nElectric Illuminating Co subsidiary sdaid it will redeem on\nApril Three all 75 mln dlrs of its 16-5/8 pct first mortgage\nbonds due 2012 at 1,120 dlrs per 1,000 dlrs principal amount\nplus accrued interest of 14.78 dlrs.\n    It said funds for the redemption came from the sale of 300\nmln dlrs of 9-3/8 pct first mortgage bonds due 2017 in February.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:39:08.86",
    "places": [
      "usa"
    ],
    "id": "1604"
  },
  {
    "title": "FEDERAL EXPRESS TENTATIVELY GETS US/TOKYO ROUTE",
    "body": "The Department of Transportation said\nthat an administrative law judge had recommended that small\npackage service between the United States and Tokyo be granted\nto Federal Express Corp .\n    A final decision by the department is expected within 90\ndays.\n    In addition, the department said the law judge recommended\nthat backup service be granted to . The order,\nif finally approved, would be for five years in the case of\nFederal and one year in the case of Orion.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:39:39.32",
    "places": [
      "usa",
      "japan"
    ],
    "id": "1605"
  },
  {
    "title": "COMDATA NETWORK  IN NEW ACQUISITION TALKS",
    "body": "Comdata Network Inc said it is\nin active talks with other parties on a possible acquisition or\nrecapitalization of Comdata in an effort to maximize\nshareholder values.\n    Comdata said  together with\n and  have acquired over\nfive pct of Comdata stock and Rosewood intends to acquire over\n15 pct of Comdata.\n    Comdata said it has not yet reached a definitive agreement\nwith  for the previously-announced\nrecapitalization and self-tender offer.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:40:36.50",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1606"
  },
  {
    "title": "NORTHGATE  QUEBEC ORE RESERVES DECLINE",
    "body": "Northgate Exploration Ltd said year-end\n1986 ore reserves at its two Chibougamau mines in Quebec fell\nto 8,141,150 short tons grading 0.077 ounce gold a ton and 1.63\npct copper from year-earlier 8,462,000 tons grading 0.077 ounce\ngold ton and 1.67 pct copper.\n    The company said it launched a 700,000 dlr exploration\nprogram at the mines to increase production and ensure the\noperations' continued long life.\n    Ore production totaled 650,653 tons last year, it said,\nestimating year-end reserves contained about 627,000 ounces of\ngold and 265 mln pounds of copper.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:41:39.90",
    "topics": [
      "gold",
      "copper"
    ],
    "places": [
      "canada"
    ],
    "id": "1607"
  },
  {
    "title": "WEBCOR ELECTRONICS INC  3RD QTR DEC 31",
    "body": "Shr loss 51 cts vs loss 44 cts\n    Net loss 1.8 mln vs loss 1.5 mln\n    Revs 3.1 vs 5.4 mln\n    Nine months\n    Shr loss 1.16 dlrs vs loss 1.33 dlrs\n    Net loss 4.0 mln vs loss 4.6 mln\n    Revs 9.9 mln vs 12.3 mln\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:42:02.26",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1608"
  },
  {
    "title": "PORSCHE CARS NORTH AMERICA REPORTS LOWER SALES",
    "body": "Porsche Cars North America said it\nsold 1,815 cars during February, down from 2,129 cars during\nFebruary of 1986.\n    The company said sales since the beginning of the year\ntotaled 3,469, down from 3,862 a year earlier.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:42:41.73",
    "places": [
      "usa"
    ],
    "id": "1609"
  },
  {
    "title": "COMMUNICATIONS SYSTEMS INC  4TH QTR NET",
    "body": "Shr 12 cts vs 10 cts\n    Net 613,986 vs 534,093\n    Revs 9,494,570 vs 7,591,564\n    Year\n    Shr 41 cts vs 59 cts\n    Net 2,151,130 vs 3,111,317\n    Revs 35.9 mln vs 33.7 mln\n    NOTE: 1986 net includes gains from discontinued operations\nequal to three cts compared with nine cts in 1985.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:43:21.37",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1610"
  },
  {
    "title": "TURKEY SEES 1.5 BILLION DLR DEFICIT IN 1986",
    "body": "Turkey expects a 1986 balance of payments\ndeficit of 1.5 billion dlrs, well over target, but is taking\nsteps to improve its performance in this and other fields, Ali\nTigrel, director of economic planning at the State Planning\nOrganisation said.\n    He told Reuters the shortfall was a direct consequence of\neconomic growth of nearly eight pct, up from 5.1 pct in 1985,\nwhich he said resulted mostly from a surge in domestic demand.\n    Tigrel acknowledged a need to cut inflation further after a\ndrop of more than 12 points to 24.6 pct in the Treasury\nwholesale index last year.\n    This year's target of 20 pct \"might be attainable but the\neconomic management will have to be careful,\" he said.\n    Tigrel, whose department produces the annual programme\nwhich is central to the government's economic planning, said\nTurkey's creditworthiness was at risk over the current account\nshortfall, originally targeted at 695 mln dlrs.\n    \"We must alleviate the current account substantially to\nsustain the creditworthiness that we have managed to secure\nover the last five years,\" he added.\n    His comment echoed last October's Organisation for Economic\nCooperation and Development report on Turkey, which said\nAnkara's case for more medium-term financing on better terms\nwould look better if inflation were lower and the current\naccount deficit cut or turned into a surplus.\n    \"In 1987 we must reduce the rate of growth in public sector\ninvestments, we must reduce the public sector deficit as a\npercentage of GNP and we must achieve a very visible\nimprovement in the current account deficit,\" he said.\n    Tigrel said a surge in public sector spending last year was\nalso to blame for the high deficits.\n    Appropriations to government departments had been cut by\neight pct since the budget was passed in December and foreign\nborrowing by municipalities had been restrained.\n    \"We are trying make sure that public bodies stick to the\ninvestment programme and do not exceed their appropriations,\" he\nsaid. It was hoped to bring the public sector borrowing\nrequirement down to five pct of GNP in 1987 from an estimated\n5.6 pct in 1986.\n    More modest GNP growth of five pct for 1987 was also\ntargeted, Tigrel said. Measures were being taken to encourage\nexports, and production incentives were being considered.\n    \"We must try to make sure that more capacity is injected\ninto the Turkish economy in the coming years. The promotion\npolicy is geared to make sure that both foreign investment and\nlocal private capital come more into play as far as\nmanufacturing capacity is concerned,\" Tigrel said.\n    He said the process of structural adjustment of the Turkish\neconomy to free market policies, begun in 1980, was still under\nway. Trade had been liberalised and a freer exchange rate\npolicy applied, but he acknowledged there was more to be done\nin a country where the state still dominates industry and the\ncurrency is only partially convertible.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 12:44:30.99",
    "topics": [
      "bop",
      "trade",
      "gnp"
    ],
    "organisations": [
      "oecd"
    ],
    "places": [
      "turkey"
    ],
    "id": "1611"
  },
  {
    "title": "GENERAL MOTORS LATE FEBRUARY CAR SALES OFF 8.6 PCT\n",
    "date": " 4-MAR-1987 12:46:30.42",
    "id": "1612"
  },
  {
    "title": "AMERICAN MOTORS LATE FEBRUARY U.S. CAR SALES OFF 65 PCT\n",
    "date": " 4-MAR-1987 12:48:12.24",
    "id": "1613"
  },
  {
    "title": "UAW TO MEET WITH PRESS ON AMERICAN MOTORS ",
    "body": "United Auto Workers vice president Marc\nStepp said he will meet with reporters this afternoon on the\nunion's negotiations with American Motors Corp.\n    A union spokesman was not immediately available to discuss\nthe content of the press conference, set to begin at 1530 EST.\n    Both the union and American Motors this week have voiced\nwillingness to return to the negotiating table to try to hammer\nout a contract for UAW workers at the automakers' Kenosha,\nWis., facility, after talks broke down last weekend.\n     An American Motors spokesman said no time or place has yet\nbeen set to resume the talks.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:49:27.72",
    "places": [
      "usa"
    ],
    "id": "1614"
  },
  {
    "title": "FORD CANADA FEBRUARY CAR SALES FALL TO 13,734 UNITS FROM YEAR-AGO 14,589\n",
    "date": " 4-MAR-1987 12:50:47.89",
    "id": "1615"
  },
  {
    "title": "ENERGY/CALIFORNIA OIL PRODUCTION",
    "body": "Drilling for oil in California is\nlikely to continue at last year's sharply reduced levels\ndespite recent gains in crude oil prices, industry analysts\nsaid.\n    Because much of the crude oil in California fields is\nthick, heavy and expensive to extract, oil prices would have to\nincrease to near 1985's levels before any significant recovery\nis seen in drilling, they said.\n    \"Companies will probably only drill their best prospects,\"\nsaid John Curti, an analyst with Birr Wilson Securities Inc.\n    Few new wells now are being drilled.\n    Only 33 rigs, about one-quarter of the total available,\nwere drilling for oil onshore in California last week, compared\nto about 70 last year, said Bill Bolster of Munger Oil\nInformation Services, which tracks California drilling\nactivity.\n    \"It's in the dregs right now,\" said Bolster of the state's\ndrilling activity.\n    Current prices are not enough to justify increased\ndrilling, said Ed Malmgreen of the California Independent\nProducers Association.\n    While an Organization of Petroleum Exporting Countries pact\nto curb production boosted oil prices early this year, prices\neventually fell.\n    Prices for California's marker grade, Line 63 blend, have\nslumped about 20 pct in the last month to 14 dlrs from a high\nof about 17 dlrs.\n    More than half of California's oil comes from stripper\nwells, those producing less than 10 barrels a day, and that\nmuch of that oil costs between 18 and 25 dlrs a barrel to\nextract, Malmgreen said.\n    \"It's not unusual for a stripper well to cost 18 dlrs,\"\nMalmgreen said.\n    Many stripper wells along the southern California coast\nproduce eight times as much water as crude oil, and inland\nwells frequently require the use of steam injection to spur\nextraction of the thick, heavy oil, he said.\n    The outlook for future production in California is clouded\nby a lack of exploratory drilling now, analysts said.\n    In the heart of California's oil patch, Kern County, which\nproduces about two-thirds of the state's oil, exploratory\ndrilling has slowed to a crawl.\n    Only 55 exploratory wells were drilled in Kern County in\n1986, compared to 137 in 1985, according to David Mitchell of\nthe state energy commission. So far this year only five\nexploratory wells have been drilled.\n    \"I don't think they'll even get to what they did last\nyear,\" Mitchell said.\n    No pickup in exploratory drilling is likely for the rest of\nthe decade, Mitchell said.\n    Along with the fall in drilling has come a decrease in the\nnumber of producing wells and overall production.\n    Between February and October of 1986, the number of\nproducing oil wells in California fell 14 pct to 43,521 from\nmore than 50,000, said Bill Guerard of the California Energy\nCommission.\n    In line with that decrease, California's crude oil output\nfell about 10 pct last year due to low oil prices and is\nexpected to remain at that lower level, analysts said.\n    Between February and October 1986, California's crude oil\nproduction slipped from an all-time high of 1.185 mln barrels\nper day to 1.066 mln bpd, Guerard said.\n    Total estimated crude oil production in California for 1986\nwas 408 mln bbls, compared with 424 mln bbls in 1985 and 405\nmln bbl in 1983, according to the California Department of\nConservation.\n    \"Production in 1987 will probably hold around 1986 levels,\"\nGuerard said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:51:02.20",
    "topics": [
      "crude"
    ],
    "organisations": [
      "opec"
    ],
    "places": [
      "usa"
    ],
    "id": "1616"
  },
  {
    "title": "REAGAN DENOUNCES REPORTS OF WIFE'S ROLE",
    "body": "President Reagan angrily denounced\npress reports that his wife, Nancy, is running the government\nas \"despicable fiction.\"\n    He said the reports had \"touched a nerve.\"\n    Reagan made the comments at a photo session with William\nWebster, his nominee as head of the Central Intelligence\nAgency.\n    The president and Mrs Reagan celebrate their 35th wedding\nanniversary today as Reagan prepares to make an address to the\nnation on the Iran-contra scandal tonight.\n    When a reporter asked about Mrs Reagan's role in\ngovernment, Reagan replied: \"I think this is being bandied by\nthe press. That is fiction and I think it is despicable\nfiction.  And a lot of people ought to be ashamed of\nthemselves.\"\n    Pressed for further comment, Reagan said, \"The idea that she\nis involved in governmental decisions and so forth... and being\na kind of a dragon lady, there is nothing to that.\"\n    Reagan flatly denied that that his wife had had a role in\nthe departure from the White House last Friday of Reagan's\nchief of staff, Donald Regan, as has been widely reported.\n    Regan's successor, former senator Howard Baker, was in the\nroom as Reagan made his comments.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:52:12.27",
    "places": [
      "usa"
    ],
    "id": "1617"
  },
  {
    "title": "GM  LATE FEBRUARY CAR SALES OFF 8.6 PCT",
    "body": "General Motors Corp said car sales for\nFebruary 21 through 28 were off 8.6 pct to 98,036 from 107,207\na year before.\n    The company said truck sales for the period were up 10.9\npct to 42,593 from 38,402 a year before.\n    It said for the full month, car sales were off 20.7 pct to\n286,771 from 361,785 a year before, and truck sales were off\n4.9 pct to 118,245 from 124,336.\n    GM said year-to-date car sales were off 29.3 pct to 529,206\nfrom 748,119 a year before and truck sales were off 13.3 pct to\n207,241 from 238,955.\n    GM said February sales showed improvement from the low\npoint reached in January and it expects the improvement to\ncontinue in coming months.\n    It said economic factors, including positive consumer\nattitudes about buying new vehicles, remain favorable.\n    GM noted that its divisions are offering a variety of car\nand truck incentive programs this year.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:52:47.07",
    "places": [
      "usa"
    ],
    "id": "1618"
  },
  {
    "title": "STANDARD OIL  IN TEXAS NATURAL GAS FIND",
    "body": "Standard Oil Co said the Friendswood\nDevelopment Number One well in the Fostoria or Deep Wilcox\nField of Montgomery County, Texas, flowed 4,500,000 cubic feet\nof natural gas per day from depths of 14,252 to 14,486 feet\nthrough a 14/64 inch choke.\n    It said it has contracted for Perry Gas Cos Inc to purchase\nnatural gas from the well, and Perry will build a four-inch\ngathering pipeline to connect to Natural Gas Pipeline Co's\ntransmission line.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:54:00.54",
    "topics": [
      "nat-gas"
    ],
    "places": [
      "usa"
    ],
    "id": "1619"
  },
  {
    "title": "WEBCOR ELECTRONICS  IN TECHNICAL DEFAULT",
    "body": "Webcor Electronics Inc said it\nremains in technical and payment default under its revolving\ncredit agreement and in technical default under certain other\nobligations to its lender.\n    Although its lender has not enforced its right to demand\npayment of the debt in full, it continues to reserve its right\nto do so at any time, it said.\n    Earlier, Webcor reported a third quarter net loss of 1.8\nmln dlrs and nine months net loss of 4.0 mln dlrs.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:55:44.41",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1620"
  },
  {
    "title": "GM'S  OLDSMOBILE SETS INCENTIVE PROGRAM",
    "body": "General Motors Corp said it will offer a\nspecial finance rate support program on some Oldsmobile cars.\n    General Motors said that, as an alternative to its ongoing\nrate option sale program, buyers can opt for a special finance\nrate. Buyers may select 3.9 pct financing on 24 month\ncontracts, a 7.9 pct interest rate on 36 month contracts, 8.9\npct on 48 month term loans, or 9.9 pct on 60 month loans.\n    The new incentive program, which ends April 30, applies to\ndeliveries of eligible models from stock. Models covered by the\nprogram include Calais, Cutless Ciera and Cutless Supreme,\nCustom Cruiser, Delta 88 and Firenza.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:55:53.71",
    "places": [
      "usa"
    ],
    "id": "1621"
  },
  {
    "title": "FIRST SAVINGS BANK FLORIDA  SETS MEETING",
    "body": "First Savings Bank of\nFlorida said it expects a special shareholder meeting to be\nheld around May 21 to consider the proposed merger into\nGibraltar Financial Corp .\n    It said the annual meeting will be held April 30 to elect\ntwo directors and ratify the appointment of auditors.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:56:44.19",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1622"
  },
  {
    "title": "IZVESTIA SAYS SOVIET WINTER CROPS NEED RESEEDING",
    "body": "The government daily Izvestia said a\nconsiderable amount of Soviet winter crops need to be reseeded\nand the state 1987 grain harvest target of 232 mln tonnes will\nnot be easy to fulfil.\n    Without giving figures, the newspaper said: \"A considerable\npart of the winter crops must be reseeded, but that creates\nextra effort in the fields in spring.\"\n    The Soviet Union has previously said nine mln hectares of\nwinter grain will have to be reseeded because of winterkill.\n    A U.S. Department of Agriculture analyst in Washington has\nsaid the figure of nine mln hectares would equal about 25 pct\nof the total winter crop and would be the second highest\nwinterkill in 10 years.\n    \"The planned task of bringing in no less than 232 mln tonnes\nof grain is not simple,\" Izvestia said.\n    This week's sudden fall in temperatures has affected large\nparts of the country and has caused fieldwork to stop in the\nUkraine, it said, adding that temperatures fell to as low as\nminus 30 centigrade in Byelorussia.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:57:01.16",
    "topics": [
      "grain"
    ],
    "places": [
      "ussr"
    ],
    "id": "1623"
  },
  {
    "title": "MORRISON PETROLEUMS HAS GAIN FROM PROPERTY SALE",
    "body": " said\nit will have a net gain after taxes of 1,580,000 dlrs or 29 cts\na share from the 2,750,000 dlr sale of 200 acres of real estate\nin Oshawa, Ontario.\n    Proceeds increased working capital to 12.0 mln dlrs and\nwere invested in short term deposits, the company said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 12:57:34.01",
    "places": [
      "usa"
    ],
    "id": "1624"
  },
  {
    "title": "ARGENTINA'S CREDITORS SAID DIVIDED OVER DEBT ISSUE",
    "body": "Central Bank director Daniel Marx\nsaid Argentina's creditor banks were divided on the country's\nrequest for rescheduling its foreign debt.\n    \"There are difficulties (among the banks) to reach an\nagreement and find a unanimous decision,\" Marx told a local\nradio station in a telephone interview from New York.\n    Argentina's great efforts to comply with obligations on its\n50 billion dlr foreign debt should be met by a reduction in\ninterest rates on the part of the creditor banks, he said.\n    Marx is in New York with Argentina's debt negotiating team\nholding talks with the creditor banks' steering committee.\n    Marx said the talks should not drag on. \"If Venezuela and\nMexico have concluded their negotiations, we want to end (ours)\nin a reasonable manner and as soon as possible,\" he said.\n    Economy ministry sources said the steering committee was\nexpected today to make a counter-proposal not unlike that made\nby Treasury Secretary Mario Brodersohn at the start of the\ntalks between the two parties.\n    Argentina is seeking a 2.15 billion dlr loan to meet four\npct growth targets in 1987. It also wants lower interest rates\non its foreign debt. The United States said last week it would\nsupport a 500 mln dlr bridging loan for Argentina.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 12:58:34.96",
    "places": [
      "argentina",
      "usa",
      "venezuela",
      "mexico"
    ],
    "id": "1625"
  },
  {
    "title": "BORMAN'S  TO BUY SAFEWAY'S UTAH DIVISION",
    "body": "Safeway Stores Inc said it\nagreed to sell the assets and operations of its Salt Lake City\nDivision to Borman's Inc under undisclosed terms.\n    The division includes 60 operating supermarkets in five\nstates, most of which are in Utah, Idaho and Wyoming, together\nwith distribution and manufacturing facilities, Safeway said.\n    It said sales for the division for the year ended January\nthree were about 350 mln dlrs.\n    Safeway also said the transaction is subject to Borman's\nability to obtain financing and to successfully negotiate new\nlabor agreements with the various unions involved.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:00:23.87",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1626"
  },
  {
    "title": "FORD CANADA  FEBRUARY CAR SALES OFF SIX PCT",
    "body": "Ford Motor Co of Canada, 90\npct-owned by Ford Motor Co , said February car sales fell\nsix pct to 13,734 units from year-earlier 14,589 units.\n    Year-to-date car sales fell one pct to 25,534 units from\n25,851 units the previous year, it said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:00:45.36",
    "places": [
      "canada"
    ],
    "id": "1627"
  },
  {
    "title": "FISHER FOODS  SAYS STAKE IN FIRM SOLD",
    "body": "Fisher Foods Inc said\n has sold its 1,500,000 Fishers\nshares, a 44 pct interest, to a group consisting of ,  and .\n    The company said in connection with the transaction, all\nfive American Financial representatives have resigned from its\nboard.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:01:48.75",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1628"
  },
  {
    "title": "AMERICAN MOTORS  LATE FEBRUARY SALES OFF",
    "body": "American Motors Corp said its\nU.S. car sales for the February 21 to 28 period dropped 65 pct\nto 926 cars from 2,672 cars in the same period a year ago.\n    There were seven selling days in both periods.\n    Domestic sales for the month were off 61 pct to 2,501 cars\nfrom 6,472 cars in February last year, American Motors said.\n    Year-to-date U.S. car sales declined 62 pct to 4,922 from\n12,861 cars in the comparable period of 1986, the automaker\nsaid.\n    American Motors is controlled by Renault of France.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:05:17.24",
    "places": [
      "usa"
    ],
    "id": "1629"
  },
  {
    "title": "HOME INTENSIVE  EXTENDS CONVERSION RIGHTS",
    "body": "Home Intensive Care Inc\nsaid it extended by 11 days the period of time during which its\ncallable March cumulative convertible preferred stock may be\nconverted at the current conversion ratio of 2.2 shares of\ncommon stock for every preferred share.\n    The conversion ratio is now in effect until the close of\nbusiness on March 16, after which the ratio drops to two shares\nof common stock for every preferred share until March 5, 1988.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:06:15.37",
    "places": [
      "usa"
    ],
    "id": "1630"
  },
  {
    "title": "U.S. SENATE PANEL MAKES CONSERVATION EXEMPTION",
    "body": "The U.S. Senate Agriculture Committee\napproved a measure that would exempt farmers who planted\nalfalfa or other multiyear grasses and legumes between 1981 and\n1985 from a federal conservation requirement.\n    Sen. Edward Zorinsky, D-Neb., said his bill would restore\nequity under federal sodbuster rules, which currently deny farm\nprogram benefits to farmers who, between 1981 and 1985, planted\nalfalfa and other multiyear grasses and legumes without\ninterrupting the plantings with a row crop.\n    An official from a leading conservation group, who asked\nnot to be identified, said the panel's move was \"an unfortunate\nfirst action\" because it could lead to the exemption of\npotentially millions of acres from the sod buster regulations,\nestablished under the 1985 farm bill.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:06:44.53",
    "topics": [
      "grain"
    ],
    "places": [
      "usa"
    ],
    "id": "1631"
  },
  {
    "title": "AVX  REACHES POLLUTION SETTLEMENT",
    "body": "AVX Corp said it has entered a\ntwo mln dlr settlement with the U.S. government and the\nCommonwealth of Massachusetts to pay for damage claims against\nthe company for contaminating the New Bedford, Mass., harbor\nwith polychloride biphenyls (PCBs).\n    As part of the agreement, AVX said the government and\nMassachusetts have agreed to release it from further\nliabilities for polluting the harbor.\n    AVX said it has fully provided for the settlement's cost in\nits 1986 financial statements.\n    AVX, a multilayer ceramic capacitor producer, said the\ngovernment had estimated damages to the harbor at about 50 mln\ndlrs.\n    But, it added, the government, the state and the\nEnvironmental Protection Agency are still awaiting the\ncompletion of studies to determine whether they will recommend\na cleanup and what it will cost.\n    The studies will be completed next year, AVX added.\n    AVX said it is one of five defendents involved in the\npollution litigation.\n    AVX said it is also engaged in litigation with its insurers\nto determine the applicability and the amount of coverage\navailable to indemnify the company for payment of the the two\nmln dlr settlement or its share of the cleanup, if any.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:08:10.37",
    "places": [
      "usa"
    ],
    "id": "1632"
  },
  {
    "title": "PICO PRODUCTS INC  2ND QTR JAN 31",
    "body": "Shr profit three cts vs loss nine cts\n    Net profit 103,664 vs loss 326,675\n    Revs 7.6 mln vs 6.9 mln\n    Six months\n    Shr loss two cts vs loss 15 cts\n    Net loss 78,246 vs loss 522,868\n    Revs 14.7 mln vs 12.9 mln\n    NOTE:1986 net includes gain of 43,185 or one cts in 2nd qtr\nand six months for discount on early long-term debt repayment.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:11:40.28",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1633"
  },
  {
    "title": "OUTBOARD MARINE  RISING ON TAKEOVER RUMOR",
    "body": "Wall Street traders said the stock of\nOutboard Marine Corp was rising on a rumor over a cable\ntelevision program that Outboard is a likely takeover target of\nSun Chemical Corp .\n    Outboard was up 3-1/8 to 34-5/8. On Tuesday it rose 1-3/8\nto 31-1/2 Tuesday.\n    A report on Cable News Network today said Sun Chemical has\n4.9 pct of Outboard and is conducting a study on whether to go\nfor control of the whole company.\n    An Outboard Marine spokesman would not comment on the\nrumor.\n    The cable program said a buyout of Outboard would be for up\nto 40 dlrs a share, or for a total of 680 mln dlrs.\n    A spokesman for Sun Chemical was not immediately available.\n    Outboard Marine last June adopted a shareholder rights plan\nthat will be triggered when a person or group acquires\nbeneficial ownership of 20 pct or more of its common or begins\na tender offer that would result in 30 pct ownership.\n    Wayne Jones, vice president at Outboard for strategic\nplanning, said management wants to stay independent. \"We are\nnot trying to sell the company. We are proceeding with our\nstrategic plans,\" he said.\n    That plan includes integrating five boat companies that\nOutboard Marine has bought since the middle of December. Jones\nsaid all five will cost between 100 mln dlrs to 120 mln dlrs.\n    An analyst who wanted anonymity said 40 dlrs a share is a\n\"decent\" price for outboard. \"A bdding war to 50 or 60 dlrs a\nshare is stretching it. Maybe 45 dlrs a share tops,\" he said.\n    Outboard, which has 17 mln shares outstanding, is in\nregistration for a two mln common share offering with Morgan\nStanley Inc. It makes sense, the analyst said, for Sun Chemical\nto strike before the offering is underway.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:13:14.17",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1634"
  },
  {
    "title": "CADEMA  PLANS PREFERRED OFFERING",
    "body": "Cadema Corp said it entered a\nletter of intent with a national underwriting firm for an\noffering of five mln dlrs worth of convertible preferred stock.\n    Cadema said it will file a registration statement with the\nSecurities and Exchange Commission later this month for the\noffering. Proceeds will be used to fund clinical trials for the\ncompany's treatments for rheumatoid arthritis and metastatic\nbone cancer.\n    It also said it increased the size of its board to six from\nfive members.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:14:21.34",
    "places": [
      "usa"
    ],
    "id": "1635"
  },
  {
    "title": "AUDIOTRONICS CORP  TO OFFER DEBT",
    "body": "Audiotronics Corp said it registered\nwith the Securities and Exchange Commission to offer five mln\ndlrs of convertible subordinated debentures due 2002.\n    H.J. Meyers and Co Inc will manage the underwriting of the\noffer.\n    The company said proceeds will be used to repay bank debt\nand for working capital.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:17:29.41",
    "places": [
      "usa"
    ],
    "id": "1636"
  },
  {
    "title": "GM LATE FEBRUARY CAR SALES OFF 8.6 PCT",
    "body": "General Motors Corp said car sales for\nFebruary 21 through 28 were off 8.6 pct to 98,036 from 107,207\na year before.\n    The company said truck sales for the period were up 10.9\npct to 42,593 from 38,402 a year before.\n    It said for the full month, car sales were off 20.7 pct to\n286,771 from 361,785 a year before, and truck sales were off\n4.9 pct to 118,245 from 124,336.\n    GM said year-to-date car sales were off 29.3 pct to 529,206\nfrom 748,119 a year before and truck sales were off 13.3 pct to\n207,241 from 238,955.\n    GM said February sales showed improvement from the low\npoint reached in January and it expects the improvement to\ncontinue in coming months.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:18:14.32",
    "places": [
      "usa"
    ],
    "id": "1637"
  },
  {
    "title": " 4TH QTR NET",
    "body": "Oper shr 36 cts vs 39 cts\n    Oper net 1,391,000 vs 1,485,000\n    Revs 61.6 mln vs 58.5 mln\n    YEAR\n    Oper shr 70 cts vs 1.16 dlrs\n    Oper net 2,677,000 vs 4,410,000\n    Revs 207.6 mln vs 200.2 mln\n    Note: 1986 net excludes extraordinary loss of 297,000 dlrs\nor eight cts shr vs yr-ago gain of 514,000 dlrs or 13 cts shr.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:18:22.51",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1638"
  },
  {
    "title": "GENOVA INC  1ST QTR DEC 27 NET",
    "body": "Oper shr profit four cts vs loss four cts\n    Oper net profit 151,448 vs loss 170,709\n    Sales 11.5 mln vs 9,581,406\n    NOTE: Prior year net includes 123,650 dlr tax credit but\nexcludes 52,409 dlr gain on early debt retirement.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:18:38.31",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1639"
  },
  {
    "title": "FRENCH WHEAT EXPORTS TO EC FALL",
    "body": "French soft wheat exports to other\nEuropean Community countries fell 18 pct to 4.13 mln tonnes in\nthe first seven months of the 1986/87 season to January\ncompared with 5.04 mln in the same 1985/86 period, the French\nCereals Intervention Office (ONIC) said.\n    According to latest ONIC statistics, the main buyers were\nItaly with 1.89 mln against 1.63 mln in the same 1985/86\nperiod, West Germany 480,450 tonnes against 717,689, the\nNetherlands 462,048 (532,299) and Belgium 417,887 tonnes\n(919,337).\n    British and Greek imports of French soft wheat during this\nperiod were below year-ago levels. Between July 1 last year and\nJanuary 31, Britain bought 274,665 tonnes against 642,800\ntonnes, ONIC figures showed.\n    But Spanish purchases were up sharply at 258,507 tonnes\nagainst 2,751 tonnes in the same 1985/86 period and Portugal\nbought 37,599 tonnes compared with zero.\n    ONIC said the drop in French exports to other Community\ncountries was due to British competition.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:18:48.09",
    "topics": [
      "grain",
      "wheat"
    ],
    "organisations": [
      "ec"
    ],
    "places": [
      "france",
      "uk",
      "west-germany",
      "belgium",
      "greece",
      "netherlands",
      "spain"
    ],
    "id": "1640"
  },
  {
    "title": "AMERICAN MOTORS LATE FEBRUARY SALES OFF",
    "body": "American Motors Corp said its\nU.S. car sales for the February 21 to 28 period dropped 65 pct\nto 926 cars from 2,672 cars in the same period a year ago.\n    There were seven selling days in both periods.\n    Domestic sales for the month were off 61 pct to 2,501 cars\nfrom 6,472 cars in February last year, American Motors said.\n    Year-to-date U.S. car sales declined 62 pct to 4,922 from\n12,861 cars in the comparable period of 1986, the automaker\nsaid.\n    American Motors is controlled by Renault of France.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:19:19.68",
    "places": [
      "usa"
    ],
    "id": "1641"
  },
  {
    "title": "SUPREME EQUIPMENT/SYSTEMS CORP  2ND QTR",
    "body": "Shr 61 cts vs 18 cts\n    Net 670,000 vs 194,000\n    Revs 10.7 mln vs 10.4 mln\n    Six months\n    Shr 73 cts vs 35 cts\n    Net 798,000 vs 377,000\n    Revs 19.5 mln vs 19.8 mln\n    NOTE:1987 net includes gain of 362,000 dlrs in 2nd qtr and\n431,000 dlrs in six months from tax loss carryforward.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:19:25.76",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1642"
  },
  {
    "title": "GULF APPLIED TECHNOLOGIES INC  4TH QTR",
    "body": "Oper shr loss five cts vs loss 24 cts\n    Oper net loss 165,000 vs loss 802,000\n    Revs 4,988,000 vs 3,101,000\n    Year\n    Oper shr loss 13 cts vs loss 1.33 dlrs\n    Oper net loss 454,000 vs loss 4,407,000\n    Revs 23.1 mln vs 8,937,000\n    NOTE: Results restated for discontinued operations.\n    1986 net both periods excludes 143,000 dlr tax credit.\n    Net excludes gains from discontinued pipelines and\nterminals operations of 216,000 dlrs vs 99,000 dlrs in quarter\nand 527,000 dlrs vs 296,000 dlrs in year.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:19:43.78",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1643"
  },
  {
    "title": "VAN DORN CO  4TH QTR NET",
    "body": "Shr 55 cts vs 80 cts\n    Net 2,517,443 vs 3,633,217\n    Revs 79.1 mln vs 76.3 mln\n    12 mths\n    Shr 2.57 dlrs vs 3.41 dlrs\n    Net 11.7 mln vs 15.4 mln\n    Revs 305.1 mln vs 314.3 mln\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:20:21.02",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1644"
  },
  {
    "title": "GULF APPLIED  TO HAVE GAIN FROM SALE",
    "body": "Gulf Applied Technologies Inc said it\nwill report a gain of 2,900,000 dlrs or 89 cts per share on the\npreviously-announced sale of its pipelines and terminals\nsegment in first quarter results.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:20:39.80",
    "places": [
      "usa"
    ],
    "id": "1645"
  },
  {
    "title": "FORD CANADA FEBRUARY CAR SALES OFF SIX PCT",
    "body": "Ford Motor Co of Canada, 90\npct-owned by Ford Motor Co, said February car sales fell six\npct to 13,734 units from year-earlier 14,589 units.\n    Year-to-date car sales fell one pct to 25,534 units from\n25,851 units the previous year, it said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:20:44.59",
    "places": [
      "canada"
    ],
    "id": "1646"
  },
  {
    "title": "HHC INDUSTRIES  TO REPURCHASE STOCK",
    "body": "HCC Industries said its board has\nauthorized the purchase from time to time of up to 150,000\nshares of the company's common stock.\n    Currently, HCC has about 1,775,000 shares outstanding.\n    The company said although the purchases will reduce working\ncapital, it believes its liquidity will not be impaired.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:20:50.28",
    "places": [
      "usa"
    ],
    "id": "1647"
  },
  {
    "title": "FIELDCREST CANNON INC  SETS QUARTERLY",
    "body": "Qtly div 17 cts vs 17 cts prior\n    Pay March 31\n    Record March 17\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:22:38.60",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1648"
  },
  {
    "title": "VARIAN  BUYS ANALYTICHEM INTERNATIONAL",
    "body": "Varian Associates Inc said it\nacquired all the outstanding stock of closely-held Analytichem\nInternational Inc for an undisclosed amount of cash.\n    Analytichem, based in Harbor City, Calif., is a supplier of\nbonded phase preparation products used to prepare chemical\nsamples for analysis, Varian said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:23:28.23",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1649"
  },
  {
    "title": "KANEB SERVICES INC  4TH QTR LOSS",
    "body": "Oper shr loss 1.05 dlrs vs profit nine cts\n    Oper net loss 30.5 mln vs profit 3,930,000\n    Revs 23.9 mln vs 45.6 mln\n    12 mths\n    Oper shr loss 5.30 dlrs vs profit 34 cts\n    Oper net loss 155.8 mln vs profit 16.0 mln\n    Revs 113.7 mln vs 178.8 mln\n    Note: Oper excludes loss from discontinued operations of\n9,127,000 dlrs vs 12.4 mln dlrs for qtr and 28.4 mln dlrs vs\n960,000 dlrs for 12 mths.\n    Note: Oper includes writedown of offshore drilling\nequipment of 5,070,000 dlrs for qtr and 27.9 mln dlrs for 12\nmths.\n    Also includes writedowns of oil and gas assets and tubular\ngoods inventory of 82.2 mln dlrs and 4,246,000 dlrs,\nrespectively, for 12 mths.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:24:19.48",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1650"
  },
  {
    "title": "SUSPENSIONS/PARTS INDUSTRIES LTD  YEAR",
    "body": "Shr 33 cts vs 60 cts\n    Net 1.1 mln vs 1.7 mln\n    Revs 11.7 mln vs 10.6 mln\n    NOTE:Full name is Suspensions and Parts Industries Ltd.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:24:43.55",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1651"
  },
  {
    "title": "ESTIMATED FRENCH BARLEY STOCKS WORRYING - ONIC",
    "body": "The size of French 1986/87 carryover\nbarley stocks, estimated at 1.72 mln tonnes compared with\n700,000 tonnes in 1985/86 is worrying, French Cereals\nIntervention Office (ONIC) Director Bernard Vieux said.\n    He told journalists these estimates were unchanged at the\nend of February from the previous month while export forecasts\nwere lowered to 4.5 mln tonnes from 5.76 mln in 1985/86.\n    Vieux called on the EC Commission to help by awarding a\nlarger volume of export certificates and said if no outlets are\nopened for French barley a large amount could be put into\nintervention.\n    A small amount of French barley has already been put into\nintervention, Vieux said without detailing the amount.\n    The outlook for French maize is better with 1986/87 exports\nto non-EC countries now put at 700,000 tonnes against 200,000\ntonnes at the end of January and against 155,000 tonnes in\n1985/86.\n    The higher estimate is due to the EC Commission's decision\nto hold special export tenders for French maize, he said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:25:48.92",
    "topics": [
      "grain",
      "barley",
      "corn"
    ],
    "organisations": [
      "ec"
    ],
    "places": [
      "france"
    ],
    "id": "1652"
  },
  {
    "title": "MITCHELL ENERGY AND DEVELOPMENT CORP PAYOUT",
    "body": "Qtly div six cts vs six cts prior\n    Pay April Two\n    Record March 18\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:27:25.47",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1653"
  },
  {
    "title": "HYUNDAI MOTOR AMERICA SAYS CAR SALES STRONG",
    "body": "Hyundai Motor America said\nFebruary sales of its Excel subcompact car totaled 18,656.\n    Hyundai began selling the car in the U.S. on February 20,\n1986. Sales that month totaled 588.\n    The company said sales in the first 12 months totaled\n201,328.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:28:26.98",
    "places": [
      "usa"
    ],
    "id": "1654"
  },
  {
    "title": "FROST AND SULLIVAN INC  2ND QTR JAN 31",
    "body": "Shr profit 12 cts vs loss two cts\n    Net profit 182,173 vs loss 28,977\n    Revs 4,483,047 vs 3,994,808\n    1st half\n    Shr profit 14 cts vs loss eight cts\n    Net profit 221,376 vs loss 120,435\n    Revs 8,270,947 vs 7,150,265\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:29:51.56",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1655"
  },
  {
    "title": "S. KOREAN TRADE SURPLUS WITH U.S. SEEN FALLING",
    "body": "South Korea's record 7.1 billion dlrs\ntrade surplus with the U.S. is bound to diminish as the\ncountry switches purchases from Japan in favor of U.S.\ncompanies, Trade Minister Woong-Bae Rha said.\n     He rejected suggestions the Korean Won is undervalued, and\ndenied any plans for a \"drastic and sudden\" revaluation.\n    Rha is heading a trade mission to 37 U.S. cities. Last year\nSouth Korea ran a 4.3 billion dlr trade surplus, including a\nrecord 7.1 billion surplus with the U.S. and a 5.5 billion dlr\ndeficit with Japan.\n    Rha told Reuters in an interview the current trade mission\nis looking for 2.0 billion dlrs in purchases from U.S.\ncompanies, about a quarter of which represents \"transferred\npurchases from Japanese sources.\"\n    Rha said the items being sought by the current mission are\n\"mainly chemicals, machinery and parts.\"\n    He said South Korea is the fourth largest importer of U.S.\nagricultural products. The current mission is not involved in\nthat area but there are plans to buy \"substantial amounts of\ncotton\" from the U.S.\n    He noted his country \"is clearly not as open as the American\nmarket. Nor is it reasonable to expect that it should be,\"\nconsidering South Korea has a 40 billion dlr foreign debt and\nspends six pct of its gross national product on defense.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:30:01.05",
    "topics": [
      "trade"
    ],
    "places": [
      "usa",
      "japan",
      "south-korea"
    ],
    "id": "1656"
  },
  {
    "title": "CRI INSURED  TO SET SPECIAL DISTRIBUTION",
    "body": "CRI Insured Mortgage Investments\nInc said its advisor will recommend a special distribution of\n50 cts per share due to the sale of a federally insured first\nmortgage on Park Meadows I in Madison, Wis., for 4,267,871\ndlrs.\n    It said it received a 3,695,465 dlr return of capital and\n572,406 dlrs in income on the sale, and the 50 ct distribution\nwould represent a 43.294 ct return of principal and a 6.706 ct\ncapital gain and would be payable June 30 to holders of record\nMay 31.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:37:10.48",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1657"
  },
  {
    "title": "KANEB ENERGY PARTNERS LTD  4TH QTR LOSS",
    "body": "Unit loss one ct\n    Net loss 186,000\n    Revs 10.7 mln\n    11 mths\n    Unit loss 7.26 dlrs\n    Net loss 121.4 mln\n    Revs 46.9 mln\n    Note: Partnership formed in February 1986.\n    Net includes writedown of oil and gas assets of 124.8 mln\ndlrs for 11 mths to comply with full-cost accounting methods.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:40:06.65",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1658"
  },
  {
    "title": "DIGICON  COMPLETES SALE OF UNIT",
    "body": "Digicon Inc said it has completed the\npreviously-announced disposition of its computer systems\ndivision to an investment group led by \nRotan Mosle Technology Partners Ltd affiliate.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:41:22.99",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1659"
  },
  {
    "title": "TEXAS EASTERN  BUYS PETROLEUM TERMINAL",
    "body": "Texas Eastern Corp said it has completed\nthe purchase of an idle petroleum products terminal near Norris\nCity, Ill., from  for undisclosed terms and will\nreopen it in September after remodeling.\n    The company said the terminal will handle leaded and\nunleaded regular gasolines, number two fuel oil, ethanol and\nnatural gasoline.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:42:03.10",
    "topics": [
      "gas",
      "fuel"
    ],
    "places": [
      "usa"
    ],
    "id": "1660"
  },
  {
    "title": "STERLING IN TEXAS GAS AND OIL DISCOVERY",
    "body": "\nsaid it successfully drilled and completed a significant\ndevelopment well 65 miles southwest of Houston, Texas.\n    The well has a choke of 11/64 of an inch and is 10,097 feet\ndeep.\n    The well initially tested at a maximum daily flow rate of\ntwo mln cubic feet of gas and 304 barrels of condensate.\n    Participants in the new well, along with Sterling, are\nTrafalgar House Ltd of the U.K. and \n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:42:57.03",
    "topics": [
      "nat-gas",
      "crude"
    ],
    "places": [
      "usa"
    ],
    "id": "1661"
  },
  {
    "title": " TO SELL VEHICLES IN U.S.",
    "body": "Range Rover of North America Inc, a\nsubsidiary of the British Land Rover Group, said it would begin\nselling the luxury utility vehicles in the United States March\n16 at a suggested retail price of 30,825 dlrs.\n    Range Rover executives told Reuters after a press\nconference they expect to generate 80 mln dlrs in revenues this\nyear, but that the U.S. venture is not expected to become\nprofitable until 1989.\n    The executives said they expect to sell 3,000 of the\nvehicles this year from an initial network of 37 dealers, which\nwill be gradually expanded to 65 within a year.\n    Range Rover's project, aimed at buyers with household\nincomes above 100,000 dlrs annually, is the culmination of a\nfour-year effort by Land Rover Group to introduce the\nBritish-build vehicle in the U.S. market.\n    The executives said the only option to be offered with the\nvehicles will be a leather upholstery package priced at 1,025\ndlrs.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:44:03.10",
    "places": [
      "usa"
    ],
    "id": "1662"
  },
  {
    "title": "GENERAL ELECTRIC UNVEILS NEW STOCK DATABASE",
    "body": "GE Information Services Co, a\nunit of General Electric Co, said it is making avialable this\nweek an on-line stock market analysis database, called VESTOR,\non GEnie, the General Electric Network for Information\nExchange.\n    GE said Investment Technologies Inc  developed the\ndatabase that evaluates more than 6,000 securities and advises\nusers on stock market decisions based on their portfolio needs\nand criteria.\n    GE said GEnie has about 45,000 on-line subscribers.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:44:52.57",
    "places": [
      "usa"
    ],
    "id": "1663"
  },
  {
    "title": "BLINDER INTERNATIONAL  HAS NASD EXCEPTION",
    "body": "Blinder International\nEnterprises Inc said its common stock will continue to be\nquoted on the National Association of Securities Dealers'\nNASDAQ system due to an exception pending the resolution of a\ndispute between the NASD and Blinder on Blinder's\nqualifications for continued NASDAQ quotation.\n    The company said the NASD has alleged that Blinder no\nlonger meets listing criteria but Blinder said it feels it can\nresolve the issues in dispute.  It said if it cannot resolve\nthe issues by April 27 or if it fails to meet conditions\nimposed by the NASD, it will be delisted.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:45:39.97",
    "places": [
      "usa"
    ],
    "id": "1664"
  },
  {
    "title": "COMPUTER HORIZONS  IN ACQUISITION",
    "body": "Computer Horizons Corp said it\npurchased ComputerKnowledge Inc, a software training education\ncompany headquartered in Dallas.\n    Terms were not disclosed.\n                \n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:46:05.08",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1665"
  },
  {
    "title": "POLICY MANAGEMENT  MAKES ACQUISITION",
    "body": "Policy Management Systems Corp\nsaid it has acquired the majority of the assets and business of\nAllied Research Inc of Salem, Ore., and Consolidated Insurance\nServices Inc, of Springfield, Va., for undisclosed terms.\n    It said the two companies, which had combined 1986 revenues\nof about two mln dlrs, provide underwriting information\nservices to property and casualty insurers.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:46:40.03",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1666"
  },
  {
    "title": "UNICORP CANADA CUTS PUROLATOR STAKE",
    "body": "Unicorp Canada Corp told the\nSecurities and Exchange Commission it cut its stake in\nPurolator Courier Corp to 286,500 shares, or 3.7 pct of the\ntotal outstanding, from 962,400 shares, or 12.4 pct.\n    Unicorp, a management and investment holding company\ncontrolled by its chairman, George Mann, said it sold 675,900\nPurolator common shares on March 2 and 3 at 34.782 and 34.750\ndlrs a share.\n    Purolator agreed this past weekend to be acquired by\nmanagers of its U.S. courier business and E.F. Hutton LBO Inc\nin a leveraged buyout valued at 265 mln dlrs.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:48:07.47",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1667"
  },
  {
    "title": "ATT  OFFERS USA DIRECT SERVICE IN DENMARK",
    "body": "American Telephone and\nTelegraph Co said it is offering its USA Direct service in\nDenmark.\n    The service allows callers in Denmark to reach an ATT\noperator in the United States by dialing a single telephone\nnumber, 0430-0010, ATT said.\n    USA Direct is now available in 26 countries, including the\nUnited Kingdom, France and Australia, the company added.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:48:17.92",
    "places": [
      "usa",
      "denmark"
    ],
    "id": "1668"
  },
  {
    "title": "ATLANTIC RESEARCH  GETS NAVY CONTRACT",
    "body": "Atlantic Research Corp said it\nhas received a U.S. Navy contract to test Navy ships and their\nelectronic systems installations to isolate and correct\ndeficiencies caused by electromagnetic interference.\n    It said the first year of the contract is worth 1,500,000\ndlrs and with two option years the total value is 4,800,000\ndlrs.  Work will be performed at Norfolk and Virginia Beach, Va.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:48:31.85",
    "places": [
      "usa"
    ],
    "id": "1669"
  },
  {
    "title": "NRM ENERGY  SECURITIES RAISED BY MOODY'S",
    "body": "Moody's Investors Service Inc said it\nupgraded the ratings on NRM Energy Co's senior cumulative\npreferred depository units to B-3 from CAA.\n    The rating agency also assigned a B-3 rating to the\npartnership's proposed issue of cumulative convertible\nacquisition preferred units Series A. Moody's actions affect\n188 mln dlrs of securities.\n    The rating agency said these moves reflect the potential\nbenefits to be derived from the exchange of NRM common and\npreferred units for certain properties of Mesa Limited\nPartnership which make Mesa NRM's biggest unitholder.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:48:53.14",
    "places": [
      "usa"
    ],
    "id": "1670"
  },
  {
    "title": "TOYOTA MOTOR U.S.A. FEBRUARY CAR SALES DOWN",
    "body": "Toyota Motor Sales, U.S.A. Inc\nsaid its February car sales totaled 36,811, down from 40,012\nlast February.\n    The company said February truck sales totaled 20,437, down\nfrom 28,519 a year earlier.\n    Toyota said sales of its domestically produced Corolla\nmodels totaled 2,098 units during the month.\n   \n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:49:54.05",
    "places": [
      "usa"
    ],
    "id": "1671"
  },
  {
    "title": "TRANS LUX  IN STOCK REPURCHASE",
    "body": "Trans Lux Corp said it will  \nrepurchase up to 350,000 shares common and/or class B stock\nover an indefinite period in the open market.\n    It also declared a five pct stock dividend payable April\nnine to holders of record march 20 and a regular quarterly\ndividend of two cts per share, payable APril nine to holders of\nrecord March 16.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:50:19.60",
    "places": [
      "usa"
    ],
    "id": "1672"
  },
  {
    "title": "FIRM ACQUIRES ",
    "body": ", a\npublicly held shell company, said it acquired American\nNutrition Works Inc through a transaction in which American\nNutrition shareholders received 28 mln shares of Nusource stock\nin exchange for their shares.\n    American Nutrition operates a chain of stores sellings\nvitamins and health products.\n    Nusource said shareholders elected a new board consisting\nof Richard A. Trydahl, Samuel Mineo and Charles E. Flink and\nvoted to change the name of the company to ANW Inc.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:50:47.32",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1673"
  },
  {
    "title": "CANADA WHEAT BOARD ADVISES CUT IN GRAIN PRICES",
    "body": "The Canadian Wheat Board has advised\nthe federal government to sharply cut initial prices paid to\nfarmers for their wheat, oats, and barley in the crop year\nbeginning August 1, a board spokesman said.\n    The spokesman declined to give the size of the recommended\nprice drops but said it would not be good news for western\nCanadian grain growers.\n    \"They're all lower,\" he said. \"This is really getting\npretty serious. We're talking nuts and bolts economic survival\nand whether it's worthwhile for farmers to put in a crop.\"\n    Farm leaders and economists have estimated the board will\nrecommend cuts of around 20 pct in the initial prices.\n    Farmers receive the initial payment when the grain is\ndelivered to the elevators used by the wheat board.\n    If the wheat board, which markets most of Canada's grain,\nobtains higher than expected prices on world markets, the\nfarmers receive a final payment at the end of the crop year. If\nprices are lower, the federal treasury makes up the difference.\n    The final decision on the initial prices, usually made in\nApril, rests with Wheat Board Minister Charles Mayer and the\nfederal cabinet.\n    Last year Mayer cut the initial prices between 19 and 27\npct but last fall the government announced a one billion\nCanadian dlr aid program to compensate for the price cuts.\n    But federal agricultural officials have already warned\nfarmers not to depend on additional government aid this year.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:51:01.55",
    "topics": [
      "grain",
      "wheat"
    ],
    "places": [
      "canada"
    ],
    "id": "1674"
  },
  {
    "title": "GATT COUNCIL DEFERS DECISION ON SEMICONDUCTORS",
    "body": "The ruling GATT Council deferred a\ndecision on whether to set up a dispute panel on the basis of a\nEuropean Community complaint against the U.S.- Japanese\nagreement on exports of computer semiconductors.\n    David Woods, spokesman of the General Agreement on Tariffs\nand Trade (GATT), told a news briefing that the main parties\nwould continue bilateral talks. This was in the hope of\nresolving the row before the next Council meeting on April 15.\n    The five-year accord signed in July 1986 aims to protect\nthe U.S. Market from dumping of low-price Japanese microchips,\nofficially known as semiconductors.\n    The E.C. Complained the accord breached GATT trade rules by\nallowing Tokyo to monitor prices, allowing it to set minimum\nprices for Japanese chips sold in third countries.\n    The 12-nation Community also charged the agreement gave\nU.S. Producers preferential access to the Japanese market.\n    Woods said many nations -- Hong Kong, Canada, Switzerland,\nSingapore, Sweden, Malaysia and Nigeria -- had supported the EC\ncomplaint during the heated Council debate.\n    Japan's delegate, Minoru Endo, and U.S. Ambassador Michael\nSamuels replied in the debate that the E.C. Charges were\nunfounded, but they were willing to continue bilateral talks.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:54:51.83",
    "topics": [
      "trade"
    ],
    "organisations": [
      "gatt",
      "ec"
    ],
    "places": [
      "usa",
      "japan"
    ],
    "id": "1675"
  },
  {
    "title": "FIRST SOUTHERN  TO MAKE ACQUISITION",
    "body": "First Southern Federal Savings and\nLoan Association said it has agreed in principle to acquire\nHorizon Financial Corp and Horizon Funding corp from  of Muskogee, Okla., for\nundisclosed terms.\n    The company said the purchase is subject to approval of the\nboards of First Southern and Victor and regulatory agencies.\n    Horizon Financial services mortgage loans and Horizon\nFunding is a wholesale loan purchasing operation. Horizon\nservices 3.2 billion dlrs in mortgage loans.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:55:40.28",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1676"
  },
  {
    "title": "DANAHER CORP  4TH QTR NET",
    "body": "Shr 71 cts vs 43 cts\n    Net 7,274,000 vs 4,447,000\n    Rev 161.6 mln vs 77.6 mln\n    Year\n    Shr 1.51 dlrs vs 1.32 dlrs\n    Net 15,401,000 vs 13,525,000\n    Rev 454.0 mln vs 304.9 mln\n   \n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:56:26.31",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1677"
  },
  {
    "title": "FIRM AGREES TO MERGE WITH LOTOQUIK INT'L",
    "body": ", a publicly held shell corporation, said it signed a\nletter of intent to merger with , a\nNassau, Bahamas-based maker of video lottery machines.\n    Under terms of the merger agreement, Chatsworth said\nLotoquik shareholders would own a majority of the surviving\ncompany.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:56:51.63",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1678"
  },
  {
    "title": "ASBESTEC TO BUY CONTRACTOR, RECEIVES CONTRACT",
    "body": " said\nit signed a letter of intent to buy asbestos abatement\ncontractor  for three mln dlrs in cash, stock\nand notes.\n    The transaction is expected to be completed early in the\nthird quarter of its fiscal year ending September 30, 1987.\n    Asbestec also said it expects to sign March six a 900,000\ndlr contract to remove asbestos from a major apartment complex\nin Washington, D.C. The project is scheduled to begin on March\nnine.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:57:40.34",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1679"
  },
  {
    "title": "GATT SETS UP DISPUTE PANEL ON CANADIAN HERRING",
    "body": "The ruling GATT Council set up a formal\ndispute panel to examine a U.S. Complaint that a Canadian law\nprohibiting export of unprocessed herring and salmon was\ndiscriminatory.\n    David Wood, official spokesman of the General Agreement on\nTariffs and Trade (GATT), told a news briefing the decision was\ntaken after bilateral consultations failed to resolve the row.\n    U.S. Ambassador Michael Samuels charged during the Council\ndebate that Canada was trying to preserve domestic jobs by\ninsisting that herring and salmon be processed at home.\n    Robert White, Canada's deputy chief of delegation, replied\nthe law was in line with GATT rules, and was for conservations\nreasons. But he agreed to setting up the dispute panel.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:58:40.37",
    "topics": [
      "trade"
    ],
    "organisations": [
      "gatt"
    ],
    "places": [
      "switzerland",
      "canada",
      "usa"
    ],
    "id": "1680"
  },
  {
    "title": "COLOMBIAN INFLATION RISES 2.03 PCT IN FEBRUARY",
    "body": "colombia's cost of living index rose 2.03\npct in february after a 3.27 pct increase in january and a 3.15\npct rise in february 1986, the government statistics institute\nsaid.\n    The rise brought year-on-year inflation to 19.77 pct\ncompared with 23.72 pct at end-february 1986 and 21.66 pct for\nthe year ending january 1987.\n    The government has predicted that inflation this year would\nbe lower than in 1986 when it reached 20.9 pct.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 13:59:59.55",
    "topics": [
      "cpi"
    ],
    "places": [
      "colombia"
    ],
    "id": "1681"
  },
  {
    "title": "TALKING POINT/GENERAL MOTORS ",
    "body": "General Motors Corp staged an explosive\nrally on Wall Street after a share buyback program announced\nyesterday, but analysts said GM's future remains clouded by\nstiff competition and erosion of market share.\n    GM shares rose 3-1/2 to 79-1/8 in active trading. Analysts\nagreed that investors liked the repurchase program but they \ndiffered sharply over the carmaker's long term prospects.\n    \"I'm very positive on GM,\" said Jack Kirnan of Kidder\nPeabody and Co. \"They're clearly committed to enhancing\nshareholder value.\"\n    However, some analysts worry about how GM will pay for the\nbuyback and whether new models will enable the carmaker to\nrecapture lost market share.\n    After the market had closed yesterday, GM said it would buy\nback 20 pct of its common stock by the end of 1990. The\nannouncement sent investors today scrambling for GM shares,\nwith more than 3.2 mln shares changing hands by mid-day.\n    The buyback plan caused several analysts bullish on the\nstock to reiterate buy recommendations this morning, and at\nleast one increased his earnings estimates for GM based on a\ngood performance expected from new car models.\n    But David Healy of Drexel Burnham Lambert Inc said the\nrepurchase program is not a positive.\n    \"The buyback doesn't really change the earnings outlook and\nputs more stress on the balance sheet,\" he said, since GM will\nhave to borrow money to pay for the stock purchases. The stock\nshould settle back down to around 76, he added.\n    Healy projects GM will earn five dlrs a share in 1987 and\n5.50 dlrs in 1988, compared to 1986 earnings of 8.21 dlrs.\nHealy's numbers are near the low end of Wall Street estimates,\nwhich range from five dlrs to 7.80 dlrs in 1987 and from four\ndlrs to 10.80 dlrs in 1988.\n    Like other analysts, Healy sees GM's share of the domestic\ncar and truck market falling in 1987. \"On balance, GM cars are\nnot selling as well as their competitors,\" he said.\n    In late February, GM car sales fell 8.6 pct from the\nyear-ago period while competitors Ford Motor Co  and\nChrysler Corp  both posted increases. But GM said February\nsales showed improvement over January, adding that it expects\nimprovement in coming months.\n    Overall, GM's share of U.S. car and truck sales should fall\nto around 38 or 39 pct in 1987 from 41 pct at the end of 1986,\nanalysts said. The numbers include imports.\n    Kidder Peabody's Kirnan said cost reductions and product\nimprovements this year should lead to positive cash flow by the\nfourth quarter, which will help GM finance the buyback.\n    \"GM (stock) has been a real laggard and now it's rolling up\nits sleeves and getting serious. I think there's a major\nearnings surprise in the winds,\" he said.\n    Kirnan raised his earnings estimates slightly today, in\npart in reaction to the announced buyback, and sees GM earning\n5.65 dlrs this year and 9.75 dlrs in 1988. \"The company is more\nconcerned than ever about improving their relative valuation\nwith respect to Ford and Chrysler,\" he said.\n    Another positive for the stock is GM's dividend, currently\nfive dlrs a share annually, which gives it a higher yield than\nits competitors, Kirnan said. And GM will raise the cash\ndividend 25 to 50 cts a share next year, he predicted.\n    But analyst Michael Lucky of Shearson Lehman Brothers Inc\nsaid U.S. car sales will weaken, and GM's new products, if\nsuccessful, will only slow but not halt the erosion of its\nmarket share.\n    \"I believe their new cars will be successful, but that will\nonly curtail losses in market share,\" which will fall to around\n35 pct by 1990, Lucky said.\n    Philip Fricke of Goldman Sachs and Co falls in the middle\nof the bulls and bears. While he is recommending GM stock, he\nsaid results will not improve until 1988.\n    \"I'm not looking for improvement this year. This is a\ntransition year for GM,\" he said.\n    Fricke, who estimates 1987 earnings at 7.80 dlrs and 1988\nat 10.80 dlrs, said cost cutting and new car models will not\naffect 1987 results. \"But the key thing isn't so much what they\nearn this year. It's the momentum beyond this year that's\nimportant.\"\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:00:34.90",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1682"
  },
  {
    "title": "EMS SYSTEMS  IN MARKETING DEAL",
    "body": "EMS Systems Ltd said it has\nsigned an agreement for  to sell EMS' Six-Party\nConference Bridge for telecommunications through the Teleco\nnetwork of 150 dealers nationwide.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:01:30.97",
    "places": [
      "usa"
    ],
    "id": "1683"
  },
  {
    "title": "PARTNERSHIP CUTS STAKE IN ERC INTERNATIONAL",
    "body": "Parsow Partnership Ltd, a Nevada\ninvestment partnership, said it lowered its stake in ERC\nInternational Inc to 343,500 shares or 8.3 pct of the total\noutstanding common stock, from 386,300 shares, or 9.3 pct.\n    In a filing with the Securities and Exchange Commission,\nParsow said it sold 42,800 ERC common shares between Jan 9 and\nMarch 2 at prices ranging from 12.125 to 14.50 dlrs each.\n    The partnership said its dealings in ERC stock are for\ninvestment purposes and it has no intention of seeking control\nof the company.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:02:07.23",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1684"
  },
  {
    "title": "ECONOMIC SPOTLIGHT - JAPAN LOW GROWTH MODEL",
    "body": "Healthy growth in corporate profits and in\nconsumer spending, the two pillars on which Japan rests its\nhopes of sustained economic growth, both look rotten at the\ncore, economists polled by Reuters said.\n    Profits and domestic consumption are meant to replace\nexports as the engine of growth. But close ties between\ncorporate performance and wages mean that the alternative\neconomic model promises little but slower growth, they said.\n    Falling profits may lead to falling incomes, which in turn\nwill cut sales and further reduce profits.\n    The Bank of Japan said in its latest outlook that improved\nterms of trade linked to the strong yen would help domestic\ndemand grow steadily.\n    However, this would happen only if household spending\nincreased in line with the value of real financial assets due\nto stable prices, and/or if corporate investment recovered as\nprofits from domestic sales improved compared with those from\nexports.\n    \"No clear sign of such developments has so far been\nevidenced,\" the central bank said.\n    Poor business prospects are the reason why economic growth\nwill be slow, even though Japan's terms of trade have improved\nsharply due to the strong yen. Economist David Pike of Phillips\nand Drew estimates that in 1986 unit cost prices fell 30 pct\nwhile output prices fell only eight pct, giving a large price\nmargin advantage in the domestic market -- as long as companies\ndid not pass that advantage on to the consumer.\n    Last year's gap of almost 10 percentage points between the\nfall in the wholesale price index and the slight drop in\nconsumer prices shows that gains from the improved terms of\ntrade have been kept as profits by producers and distributors.\n    The economists, however, believe this layer of fat will\nprotect companies for only a short while. As more firms seek\nmore profits at home instead of abroad, already fierce domestic\ncompetition will increase, fueled by lower-priced imports.\nRetail prices will fall. Profit margins will suffer.\n    A December survey by top business organisation Keidanren\nconfirms this dim view is taken by the firms themselves.\n    Of companies polled in the key manufacturing sector, almost\n80 pct thought the high yen would create a drop in production\nvolume and 60 pct predicted a drop in corporate performance,\nsaid Keidanren economist Kazuyuki Kinbara.\n    Main counter-measures cited by the firms include cutting\nunprofitable operations, reducing work to sub-contractors\n(which employ significant numbers of workers), holding down\nwages, and reducing bonuses. The government has said it fears\nunemployment could soon double from three pct now.\n    Unemployment and slow wage growth will obviously hurt\nsales. But reduced bonuses, and worries about individual\nfinancial security could be even more damaging.\n    Twice a year, bonuses provide wage earners with what\namounts to an enforced lump sum in savings, encouraging them to\nbuy large consumer products and sparking a sales bonanza.\n    To save funds, some big firms have begun a form of tied\nbonus, forcing employees to spend it on the firm's own goods.\n    Economists also predict Japanese will not save less than\nthe average 16 pct of salary they do now. On the contrary, a\npoor outlook and lower disposable income could strengthen the\nresolve to put money aside for old age and illness, education,\nand housing -- the main drains on the working man's salary.\n    The last government survey of public opinion said over 80\npct of citizens will continue to economise. Japan has a rapidly\nageing population and minimal social security and its workers\nfear poverty in their old age.\n    Faced with such a vicious circle, the government's\nreflationary strategies are severely limited.\n    The commitment by the ruling Liberal Democratic Party and\nFinance Ministry to cut the state debt has resulted in small\nsupplementary budgets and attempts to provide fiscal incentive\nwithout reducing revenue. Independent economists have been less\nthan excited at the results.\n    Provision for monetary stimulus is similarly limited.\n    The 2.5 pct discount rate is so low it is politically\nimpossible to cut it further, with the basic bank savings rate\nat only 0.25 pct, Bank of Tokyo economist Haruo Muto said.\n    Almost 60 pct of Japanese still hold their savings in some\nkind of deposit, official figures show.\n    Moves to directly inject liquidity are unproductive while\nfirms are planning cuts in capital investment.\n    The central bank is well aware that soaring stock and land\nprices are the only current results of high liquidity.\n    Fear of inflation also limits policy options. Political\nanalysts ascribe Prime Minister Yasuhiro Nakasone's 1986 big\nelection victory largely to a long period of almost zero price\ninflation. And he found this year that attempts to impose a\nsales tax to offset tax cuts arouses fierce voter opposition.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 14:02:16.96",
    "places": [
      "japan"
    ],
    "id": "1685"
  },
  {
    "title": "IRANIAN OIL MINISTER DUE IN ALGERIA ON FRIDAY",
    "body": "Iranian Oil Minister Gholamreza Aqazadeh\nis expected here on Friday for talks with his Algerian\ncounterpart Belkacem Nabi, the official Algerian news agency\nAPS said today.\n    Aqazadeh, who will be accompanied by a large delegation,\nwill have talks on bilateral relations in the field of energy\nand exchange views with Algerian officials on the current world\nenergy situation, it said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:04:12.35",
    "topics": [
      "crude"
    ],
    "places": [
      "iran",
      "algeria"
    ],
    "id": "1686"
  },
  {
    "title": "NORTHERN TELECOM  IN PHONE PACT WITH CHINA",
    "body": "Northern Telecom Ltd said it signed a\ncontract with the Peking Telecommunications Administration and\nthe Peking Foreign Trade Corp to supply an SL-1 automatic call\ndistributor system for Peking's central telephone office.\n    Financial terms were undisclosed.\n    It said Peking's telephone company would use the system to\nreceive and distribute incoming information requests more\neffectively among operators.\n    The company said it and Peking's telephone administration\nwere discussing cooperation on other telecommunications\nsystems.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:04:49.19",
    "places": [
      "canada",
      "china"
    ],
    "id": "1687"
  },
  {
    "title": " YEAR NET",
    "body": "Net 52.9 mln vs 21.9 mln\n    NOTE: Company is mutual savings bank.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:04:59.48",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1688"
  },
  {
    "title": "BEAR AUTOMOTIVE SERVICE  4TH QTR OPER NET",
    "body": "Oper shr 18 cts vs 28 cts\n    Oper net 1,076,000 vs 1,441,000\n    Sales 22.6 mln vs 21.2 mln\n    Avg shrs 5,970,000 vs 5,080,000\n    Year\n    Oper shr 55 cts vs 49 cts\n    Oper net 3,007,000 vs 2,521,000\n    Sales 82.9 mln vs 73.7 mln\n    Avg shrs 5,429,000 vs 4,484,000\n    Note: Full company name is Bear Automotive Service\nEquipment Co\n    Oper shr excludes extraordinary profit from utilization of\ntax loss carryforward of 231,000 dlrs, or four cts a share and\n1.2 mln dlrs, or 22 cts a share, respectively, in 1986 qtr and\nyear, and of 441,000 dlrs, or nine cts a share and 1.1 mln\ndlrs, or 23 cts a share, respectively, in 1985 qtr and year.\n    1985 year oper net excludes loss from cumulative effect of\nchange in accounting principle of 67,000 dlrs, or one ct a\nshare.\n\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:06:25.37",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1689"
  },
  {
    "title": "ENVIRONMENTAL POWER  UNIT GETS CONTRACT",
    "body": "Environmental Power Corp said its\nsubsidiary, Environmental Protection Resources Inc, of Houston,\nhas been hired to build a 20 mln dlr resource recovery plant\nfor Lubbock, Texas.\n    Environmental said its subsidiary also will own and operate\nthe plant, which will convert solid waste into electricity.\n    The plant is scheduled for operation by early 1989, the\ncompany said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:06:38.52",
    "places": [
      "usa"
    ],
    "id": "1690"
  },
  {
    "title": "SOFTECH  GETS AIR FORCE CONTRACT",
    "body": "Softech Inc said it was awarded a\n1,035,767 mln dlr contract by the U.S. Air Force Aeronautical\nSystems Division at Wright-Patterson Air Force base.\n    Under the seven-month contract, which carries four one-year\nrenewal options, Softech said it will continue to operate the\nDefense Department's Ada Validation Facility and JOVIAL\nLanguage Control Facility.\n    Total value of the contract, if renewal options are\nexercised, is 6,526,253 dlrs, the company said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:06:45.65",
    "places": [
      "usa"
    ],
    "id": "1691"
  },
  {
    "title": "U.K. OIL INDUSTRY SAID NOT PERMANENTLY DAMAGED",
    "body": "The U.K. Offshore oil industry has\nsuffered from last year's collapse in oil prices but should not\nsustain any permament damage, Minister of State for Energy\nAlick Buchanan-Smith said.\n    The drilling, diving and supply vessels sectors had been\nmost affected, Buchanan Snith told the House of Commons energy\ncommittee. He noted, however, that oil companies were still\nspending six mln stg a day to maintain North Sea production.\n    He added that a report by the manpower services committee\nwhich said 14,000 jobs were lost in the industry in 1986 should\nbe seen in the context of a total workforce of 300,000.\n    Prices of North Sea Brent-grade crude dipped to a low of\n8.50\ndlrs a barrel last July from a peak of over 30 dlrs the\nprevious November.\n    They recovered to around 18 dlrs a barrel after last\nDecember's OPEC meeting and Brent traded today around 17.15\ndlrs.\n    Buchanan-Smith said the U.K. Has no intention of adopting\nOPEC style quotas, noting that Britian is an oil-consuming as\nwell as an oil-producing nation.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:07:48.10",
    "topics": [
      "crude"
    ],
    "organisations": [
      "opec"
    ],
    "places": [
      "uk"
    ],
    "id": "1692"
  },
  {
    "title": "CHASE MANHATTAN STUDYING ITALIAN EXPANSION",
    "body": " is considering\nexpanding its operations in Italy, particularly in the consumer\nbanking sector, a Chase Manhattan official said.\n    Robert D. Hunter, Chase Manhattan area executive for\nEurope, Africa and the Middle East, said at a news conference\nthat plans to broaden the bank's activities on the Italian\nmarket have not been finalised, however.\n    Asked if Chase Manhattan would consider an acquisition in\nItaly, Hunter said: \"We will look at any opportunity, but the\nprices of Italian banks have been quite high.\" Chase Manhattan\nhas branches in Milan and Rome.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:08:42.40",
    "topics": [
      "acq"
    ],
    "places": [
      "usa",
      "italy"
    ],
    "id": "1693"
  },
  {
    "title": "HRS  REDUCING STAKE IN HAL ROACH ",
    "body": "International H.R.S. Industries Inc said\nit would reduce its stake in Hal Roach Studios Inc to 22 pct\nfrom 52 pct in return for 6.3 mln U.S. dlrs from Qintex Inc's\nQintex America (Media) Ltd unit.\n    H.R.S. said that under the deal's first stage, closng March\n22, it would sell Qintex 900,000 Hal Roach shares at seven U.S.\ndlrs a share each for a total of 6.3 mln dlrs and Roach will\nrepay H.R.S. 3.3 mln U.S. dlrs of advances.\n    Qintex will also complete the 16.8 mln U.S. dlr buy of 2.4\nmln Roach treasury shares at seven dlrs each and provide Roach\nwith 50 mln U.S. dlrs of financing for expansion, H.R.S. said.\n    H.R.S. said that the agreement also provided for a second\nstage over one year in which it had a put option exercisable \none year from closing to sell Qintex all or part of its two mln\nRoach shares for 8.50 U.S. dlrs a share.\n    It said Qintex had a 30-day call option, exerciseable nine\nmonths from closing, to buy from H.R.S. all or part of one mln\nRoach shares at the greater of 8.50 dlrs each or the average\nRoach share price for three months before exercise date.\n    Qintex will also acquire another 2.4 mln Roach treasury\nshares at seven dlrs a share 12 months after closng for another\n16.8 mln dlrs, H.R.S. said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:08:51.74",
    "topics": [
      "acq"
    ],
    "places": [
      "canada"
    ],
    "id": "1694"
  },
  {
    "title": "FIRST UNION REAL ESTATE UNIT HIT WITH LABOR SUIT",
    "body": "The National Labor Relations\nBoard said it issued an unfair Labor practice complaint against\nFirst Union Management, a unit of First Union Real Estate\nInvestments , for discouraging membership in a labor\norganization.\n    The NLRB said the complaint asserts First Union Management\nhired a cleaning contractor, , to clean the\n300 Sixth Avenue Building in Pittsburgh on the condition that\nSystems not deal with the Service Employees International Union\n(SEIU), Local 29.\n    Jack Yoedt, executive director of SEIU, the janitors union,\nsaid that damages could amount to more than 200,000 dlrs in\nback pay for janitors and that other damages may be\nforthcoming.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:10:13.62",
    "places": [
      "usa"
    ],
    "id": "1695"
  },
  {
    "title": "TOTAL STILL EXPECTS 1.5 BILLION FRANC 1986 LOSS",
    "body": "French oil group Total Cie Francaise des\nPetroles  is still expecting a 1.5 billion franc\nconsolidated net loss, including minority interests, for 1986,\nafter taking account of stock losses of 7.5 billion francs, the\ncompany said in a communique after a board meeting here.\n    In late January group president Francois-Xavier Ortoli told\njournalists that the slump in oil prices and the weak dollar\nhad caused the stock depreciation, turning a consolidated net\nprofit, before losses on stocks, of six billion francs into a\nconsolidated net loss of 1.5 billion francs.\n    Earlier today Armand Guilbaud, president of Total's\nrefining and distribution subsidiary Cie de\nRaffinage-Distribution (CRD) Total France , told\njournalists that 1986 had marked a return to profit for the\nsubsidiary before stock depreciation.\n    CRD made a net profit before stock depreciation and\ncurrency factors of 1.95 billion francs last year after a 1.16\nbillion loss in 1985.\n    But its net loss last year, taking account of that\ndepreciation as well as currency fluctuations, was 1.16 billion\nfrancs after a 1.05 billion loss in 1985.\n    In 1986 CRD's sales fell 5.7 pct to 19.7 mln tonnes from\n20.9 mln \"due to the growth in imports by independent\ndistributors following a relaxation of regulations,\" Guilbaud\nsaid.\n    The subsidiary is expecting to cut its workforce to 6,000\nthis year and 5,000 in 1988 from 6,800 last year, under a job\nreduction scheme which will eventually save the group 600 mln\nfrancs, he said.\n    Concerning business in 1987, he said that \"January was a\ngood month, but the situation deteriorated in February.\"\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:10:23.37",
    "topics": [
      "earn"
    ],
    "places": [
      "france"
    ],
    "id": "1696"
  },
  {
    "title": "U.S. SEMICONDUCTOR INDUSTRY FORM CONSORTIUM",
    "body": "A consortium of electrics industry\nfirms to challenge Japan's presence in the global semiconductor\nmarket was announced by the Semiconductor Industry Association.\n    The initiative will be funded by U.S. manufacturers to\ndevelop the most advanced semiconductor manufacturing\ntechnologies, the association said at a news conference.\n    Government participation and financial support will also be\nsought for the consortium called SEMATECH, for \"semiconductor\nmanufacturing technology.\" \n    \"We can continue to sit back and watch the Japanese target\nand assualt yet another critical U.S. industry. Or we can get\nin gear and do what is necessary to repell this attack,\" said\nIrwin Federman, chief executive officer of Monolithic Memories\nInc.\n    He said the objective of SEMATECH, a non profit\ncorporation, was to maintain leadership in an industry that was\nvital to the U.S. economy and national security.\n    The plan was for SEMATECH to establish a facility at\nvarious manufacturers and equipment suppliers to pioneer\nadvanced manufacturing techniques for semiconductors.\nREUTER...\n\u0003",
    "date": " 4-MAR-1987 14:12:47.65",
    "places": [
      "usa",
      "japan"
    ],
    "id": "1697"
  },
  {
    "title": "GENERAL MOTORS CANADA FEBRUARY CAR SALES FALL TO 25,779 UNITS FROM YEAR-AGO 31,361\n",
    "date": " 4-MAR-1987 14:12:59.94",
    "id": "1698"
  },
  {
    "title": "CHRYSLER TO SPEND 367 MLN DLRS ON MODEL CHANGEOVER AT ILLINOIS PLANT\n",
    "date": " 4-MAR-1987 14:13:37.56",
    "id": "1699"
  },
  {
    "title": " HAS COGENERATION FUNDING",
    "body": "American Ventures Inc said it\nand joint venture partner  have executed an\nengagement letter for  to assist in arranging the financing for the\n80 megawatt Mon Valley coal-fired fluidized bed cogeneration\nproject in Greene County, Pa.\n    The company said the electric output from the\npreviously-announced project is expected to be sold to\nAllegheny Power System Inc  under a 30-year contract now\nbeing negotiated.  It said Donaldson would also provide aid for\ntwo other cogeneration projects being developed.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:15:38.40",
    "places": [
      "usa"
    ],
    "id": "1700"
  },
  {
    "title": "FRANCE SETS 7.5 BILLION FRANC T-BILL TENDER",
    "body": "The Bank of France said it will offer 7.5\nbillion francs' worth of negotiable Treasury bills at its next\npublic weekly tender on March 9.\n    The total includes two billion francs of 13-week bills, 2.5\nbillion francs of two-year bills and three billion francs'\nworth of five year bills.\n    No maximum or minimum price has been set.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:17:01.10",
    "places": [
      "france"
    ],
    "id": "1701"
  },
  {
    "title": "(NISSAN MOTOR) LATE FEBRUARY U.S. CAR SALES UP",
    "body": "Nissan Motor Corp U.S.A. said\ndomestic car sales in the February 21 to 28 period rose to\n3,501 from 2,578 cars at the same time last year.\n    For the month of February, U.S. car sales increased to\n7,200 from 6,843 cars in the comparable month a year ago,\nNissan Motor, a wholly-owned subsidiary of Nissan Motor Ltd\nsaid .\n    For the year-to-date, Nissan Motor domestic sales advanced\nto 13,769 cars from 12,846 cars in 1986, the automaker said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:17:49.26",
    "places": [
      "usa"
    ],
    "id": "1702"
  },
  {
    "title": "S/P UPGRADES WILLIAMS COS  DEBT SECURITIES",
    "body": "Standard and Poor's Corp said it has\nupgraded approximately two billion dlrs of securities for the\nWilliams Cos. and its related entities.\n    S and P said recent sales of non-regulated oil and gas,\ncoal, fertilizer, and telecommunications assets significantly\nreduce business risk. With 900 mln dlrs of proceeds available\nto reduce debt, the financial profile should also improve.\n    Among issues upgraded were Williams' debentures, raised to\nBB-plus from BB-minus and Williams Natural Gas Co's debentures\nand preferred stock to BBB-minus from BB-plus. Northwest\nPipeline Corp issues also were upgraded.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:19:18.19",
    "places": [
      "usa"
    ],
    "id": "1703"
  },
  {
    "title": "GM  CANADA FEBRUARY CAR SALES OFF 17.8 PCT",
    "body": "General Motors of Canada Ltd,\nwholly owned by General Motors Corp, said February car sales\nfell 17.8 pct to 25,779 units from 31,361 units the previous\nyear.\n    Year-to-date car sales fell 23.8 pct from last year, the\ncompany said. It did not immediately disclose actual\nyear-to-date figures.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:20:24.44",
    "places": [
      "canada"
    ],
    "id": "1704"
  },
  {
    "title": "ANALYST REITERATES BUY ON SOME DRUG STOCKS",
    "body": "Merrill Lynch and Co analyst Richard\nVietor said he reiterated a buy recommendation on several drug\nstocks today.\n    The stocks were Bristol-Myers Co , which rose 2-1/4 to\n101, Schering-Plough Corp  2-7/8 to 97 and Syntex Corp\n 1-3/8 to 82. Vietor described these stocks as a \"middle\ngroup\" of performers.\n    Vietor said the prices of these stocks, \"look pretty cheap\nrelative to the leading performers in the drug group, such as\nUpjohn Co , Merck and Co Inc , and Squibb Corp\n.\"\n    Vietor said he also mentioned Pfizer Inc  up two to\n72-3/4 and Warner-Lambert Co  up 1-1/2 to 74-1/2 as being\nin the middle group. But he did not recommend those stocks,\nwhich he rates as neutral.\n                                       \n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:21:41.09",
    "places": [
      "usa"
    ],
    "id": "1705"
  },
  {
    "title": "STEEGO CORP  3RD QTR JAN 31 LOSS",
    "body": "Oper shr loss 16 cts vs loss 10 cts\n    Oper net loss 1,569,000 vs loss 990,000\n    Sales 50.3 mln vs 50.1 mln\n    Nine mths\n    Oper shr loss nine cts vs loss two cts\n    Oper net loss 849,000 vs loss 199,000\n    Sales 159.9 mln vs 156.6 mln\n    NOTE: Current nine mths net includes 1,036,000 dlr pretax\ngain on sale of property.\n    Prior year net both periods includes pretax gain 1,095,000\ndlrs on pension plan termination.\n    Current quarter net includes 580,000 dlr tax credit.\n    Prior year net includes losses from discontinued operations\nof 200,000 dlrs in quarter and 573,000 dlrs in nine mths.\n    Results restated for discontinued operations.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:22:35.08",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1706"
  },
  {
    "title": "MCA  NAMES SPIELBERG CREATIVE CONSULTANT",
    "body": "MCA Inc said noted film\nmaker Steven Spielberg will serve as creative consultant for\nUniversal Studios Tour Florida.\n    The tour is a joint venture between MCA and Cineplex Odeon\nCorp that is scheduled to open in 1989.\n    MCA is also planning a major expansion of its Universal\nStudio Tours. The expansion includes four live-action shows\nbased films and TV series, including Spielberg's \"E.T.\".\n    MCA's actions are seen as spurred by The Disney Co's \nChairman Michal Eisner's intention to build a new attraction in\nthe Los Angeles area, possibly a studio tour.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:24:00.19",
    "places": [
      "usa"
    ],
    "id": "1707"
  },
  {
    "title": "E-SYSTEMS INC  SETS QUARTERLY",
    "body": "Qtly div 12-1/2 cts vs 12-1/2 cts prior\n    Pay April One\n    Record March 13\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:24:06.74",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1708"
  },
  {
    "title": "RESOURCE EXPLORATION  IN DRILLING PACT",
    "body": "Resource Exploration Inc said it has\nagreed to let  drill 50 oil and\nnatural gas wells on its Clinton Sandstone formation within its\nTuscarawas and Harrison County, Ohio area of operation.\n    Resource said it would receive a cash payment and an\noverriding royalty interest on oil and gas production from\nwells drilled on the property.\n    Resource said gas produced from the property will be\ntransported through its existing pipeline. Also, Resource said\nit will provide service work to complete the wells and it will\noperate the wells after they are completed.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:25:21.51",
    "topics": [
      "crude",
      "nat-gas"
    ],
    "places": [
      "usa"
    ],
    "id": "1709"
  },
  {
    "title": "CME POSTPONES CONSIDERATION OF PETITION  TO BAN DUAL TRADING UNTIL NEXT WEEK\n",
    "date": " 4-MAR-1987 14:28:47.25",
    "id": "1710"
  },
  {
    "title": "TEXAS OIL REGULATOR CALLS FOR STATE TAX BREAKS",
    "body": "Texas Railroad Commissioner James\nNugent, saying that the ailing oilpatch cannot wait for\nCongress to act, today urged Texas state lawmakers to adopt\nincentives to find new oil reserves and to exempt severance\ntaxes on oil produced from stripper wells.\n    Nugent said in a speech to the Texas house of\nrepresentatives that the state must take the initiative in\nmolding U.S. energy policy and finding new ways to assist\ntroubled oil producers.\n    His proposal to revitalize Texas' oil industry would exempt\nstripper wells that produce 10 barrels of oil or less each day\nfrom the state's 4.6 pct severance tax. He said that the\nmajority of Texas' oil wells fall within the stripper well\ncategory and a price swing of two to three dlrs a barrel can be\ncrucial in determining if the well remains in production.\n    Nugent also called for state lawmakers to exempt new\nwildcat wells from the state severance tax for up to five years\nas a financial incentive to explore for new oil reserves.\n    Secondary and tertiary oil production, expensive methods of\nproduction that inject water or gas into the ground to recover\noil, should also be exempted from the severance tax, Nugent\nsaid. His plan would exempt existing secondary and tertiary\nwells that produce at a rate of less than three barrels a day\nfor three years, or until the price of oil reaches $25 a\nbarrel.\n    \"We've been sitting back and waiting on two federal\nadministrations to develop a coherent energy policy for the\nnation to follow. I say we have waited long enough,\" Nugent\nsaid. \"In other words, let's tell Washington to either lead,\nfollow, or get out of the way.\"\n    Nugent said that the financial losses to the state treasury\nby exempting marginal oil production from state severance taxes\nwould be more than made up by stimulating new business for the\noil supply and service industry.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:30:16.10",
    "topics": [
      "crude"
    ],
    "places": [
      "usa"
    ],
    "id": "1711"
  },
  {
    "title": "GM CANADA FEBRUARY CAR SALES OFF 17.8 PCT",
    "body": "General Motors of Canada Ltd,\nwholly owned by General Motors Corp, said February car sales\nfell 17.8 pct to 25,779 units from 31,361 units the previous\nyear.\n    Year-to-date car sales fell 23.8 pct from last year, the\ncompany said. It did not immediately disclose actual\nyear-to-date figures.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:32:11.19",
    "places": [
      "canada"
    ],
    "id": "1712"
  },
  {
    "title": "CHRYSLER TO IDLE 2,800 WORKERS AT ILLINOIS PLANT\n",
    "date": " 4-MAR-1987 14:33:48.59",
    "id": "1713"
  },
  {
    "title": "UNICORP AMERICAN CORP  SETS QUARTERLY",
    "body": "Qtly div 15 cts vs 15 cts prior\n    Pay March 31\n    Record March 13\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:34:32.58",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1714"
  },
  {
    "title": "COLOMBIA BLASTS U.S. FOR COFFEE TALKS FAILURE",
    "body": "Colombian finance minister Cesar Gaviria\nblamed an inflexible U.S. position for the failure of last\nweek's International Coffee Organisation, ICO, talks on export\nquotas.\n    \"We understand that the U.S. Position was more inflexible\nthan the one of Brazil, where current economic and political\nfactors make it difficult to adopt certain positions,\" Gaviria\ntold Reuters in an interview.\n    The U.S. and Brazil have each laid the blame on the other\nfor the breakdown in the negotiations to re-introduce export\nquotas after being extended through the weekend in London.\n    Gaviria stressed that Colombia tried to ensure a successful\noutcome of the London talks but he deplored that intransigent\nattitudes, both from producing and consuming nations, made it\nimpossible.\n    In a conversation later with local journalists, Gaviria\nsaid the U.S. attitude would have serious economic and\npolitical consequences, not necessarily for a country like\nColombia but certainly for other Latin American nations and for\nsome African countries.\n    He told Reuters that Colombia, because of the relatively\nhigh level of its coffee stocks, would probably suffer less.\n    According to Gaviria, Colombia can hope to earn about 1,500\nmln dlrs this calendar year from coffee exports, which\ntraditionally account for 55 pct of the country's total export\nrevenue.\n    That estimate would represent a drop in revenues of 1,400\nmln dlrs from 1986.\n    Colombia, which held stockpiles of 10.5 mln bags at the\nstart of the current coffee year, exported a record 11.5 mln\nbags in the 1985/86 coffee year ending last September 30.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:39:22.53",
    "topics": [
      "coffee"
    ],
    "organisations": [
      "ico-coffee"
    ],
    "places": [
      "colombia"
    ],
    "id": "1715"
  },
  {
    "title": "LIBERTY FINANCIAL GROUP  REGULAR DIVIDEND",
    "body": "Qtly div 12.5 cts vs 12.5 cts in prior qtr\n    Payable March 13\n    Record February 27\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:40:08.05",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1716"
  },
  {
    "title": "CHRYSLER CANADA FEBRUARY CAR SALES FALL TO 9,640 UNITS FROM YEAR-AGO 11,967\n",
    "date": " 4-MAR-1987 14:40:28.94",
    "id": "1717"
  },
  {
    "title": "PACTEL  SEES EARNINGS GROWTH",
    "body": "Pacific Telesis Group chairman Donald\nGuinn told a meeting of security analysts that the company sees\ncontinued earnings growth in 1987 above the 1.08 billion dlrs,\nor 5.02 dlrs per share, earned in 1986.\n    Guinn also said that capital spending stood at about 1.8\nbillion dlrs in 1986, and the company expected the figure to\nremain flat each year through 1989. He noted that all captial\nspending will be internally financed.\n    Guinn also told analysts that the company faced some\nregulatory uncertainties in ongoing rate cases at its Pacific\nBell operating company.\n    In rates hearings before, the California Public Utility\nCommission, Guinn said the company faced a potential 76 mln dlr\nrevenue reduction, and due to ongoing discussions with the\ncommission, he said the figure might even be greater.\n    The company also faces some opposition to a 225 mln dlr\nrate hike requested for 1986. Guinn said the commission found\n180 mln dlrs of the hike was based on questionable calculations\nand assumptions, while 45 mln dlrs might represented unneeded\nmodernization costs.\n    Guinn also said that the company is still studying whether\nto join an international consortium that plans to lay a\ntranspacific telephone cable between the U.S. and Japan.\n    \"We have not agreed to anything,\" Guinn said, but added he\nwould soon recieve a feasibility study on the venture and the\ncompany would make a decision soon on participating.\n    Asked by an analyst about the recent recommendation by the\nU.S. Department of Justice which would allow the Bell operating\ncompanies to offer limited long distance services, Guinn said\nthe company would likely shy away from that type of expansion.\n    \"(Long distance services) is a very competitive business.\nIt's a commodity business and becoming more so,\" he said. \"I'm\nnot so sure we would be interested in getting back into that\nbusiness.\"\n    However, Guinn generally applauded the U.S.\nrecommendations, saying they would give more latitude for the\nBell operating companies to expand into non-regulated\nbusinesses and provide more flexibility to form strategic\nalliances with other companies.\n    He added that while the company welcomes the expansion into\nnew areas, it is not currently involved in any acqusition\ntalks. \"We do not have anything actively under consideration,\"\nhe said.\n   \n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:42:38.31",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1718"
  },
  {
    "title": "TRANS WORLD AIRLINES MAKES 52 DLR/SHARE CASH MERGER PROPOSAL FOR USAIR\n",
    "date": " 4-MAR-1987 14:44:25.33",
    "topics": [
      "acq"
    ],
    "id": "1719"
  },
  {
    "title": "SENATE COMMITTEE ISSUES REVISED BANK BILL",
    "body": "The Senate Banking Committee has\nissued a revised draft bank regulation bill which would permit\nso-called non-bank banks to continue all their activities in\nprogress as of March 5, 1987.\n    The bill, which the committee is scheduled to consider\ntomorrow, would prohibit non-bank banks from beginning any new\nactivities after March 5, increase the number of their\nlocations or cross-market products or services not permissible\nfor bank holding companies.\n    The bill would also impose a one-year moratorium on bank\nsecurities or insurance activities.\n    The bill would establish a financing corporation to raise\n7.5 billion dlrs for the Federal Savings and Loan Insurance\nCorp and give federal regulators more power to arrange\nout-of-state mergers for failed or failing banks with 500 mln\ndlrs or more in assets.\n    Committee chairman William Proxmire, D-Wis, had wanted to\nban all non-bank bank activities started after July 1, 1983,\nbut opposition from other committee members forced him to\nrevise the legislation.\n    The House Banking committee is also considering bank\nregulation legislation, but is waiting for the Senate to act.\n   \n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:45:20.27",
    "places": [
      "usa"
    ],
    "id": "1720"
  },
  {
    "title": "TEXAS AIR  UNIT SETS LAS VEGAS FLIGHTS",
    "body": "Texas Air Corp's Continental\nAirlines subsidiary said it will serve Las Vegas from several\nNortheastern cities from its Newark hub starting March 15 with\nMaxiSaver fares as low as 99 dlrs each way for off-peak and 119\ndlrs for peak flights.\n    It said a daily non-stop Newark-Las Vegas flight will carry\npassengers from such cities as Boston, Buffalo, Hartford,\nNorfolk, Portland, Providence, Rochester, Syracuse and\nWashington. Unrestricted coach fares to Las Vegas will be as\nlow as 149 dlrs from Newark, 163 dlrs from Boston and 280 dlrs\nfrom Rochester.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:46:11.59",
    "places": [
      "usa"
    ],
    "id": "1721"
  },
  {
    "title": "UNICORP AMERICAN CORP  4TH QTR NET",
    "body": "Shr 13 cts vs 70 cts\n    Net 1,279,000 vs 7,979,000\n    Revs 16.4 mln vs 19.6 mln\n    Year\n    Shr 89 cts vs 2.43 dlrs\n    Net 10.3 mln vs 29.8 mln\n    Revs 56.2 mln vs 83.8 mln\n    Avg shrs 12.1 mln vs 13.1 mlnm\n    NOTE: 1986 year net includes gain 12.9 mln dlrs from sale\nof eight real estate properties.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:48:12.16",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1722"
  },
  {
    "title": "KENYA SIGNS PACT TO ESTABLISH OWN SHIPPING LINE",
    "body": "Kenya has signed an agreement with\nBritish and German interests to establish a shipping line that\nwill handle 40 pct of the country's external trade, sources\nclose to the deal said.\n    The state-owned Kenya Ports Authority, KPA, signed an\nagreement with the Hamburg-based shipping line Unimar\nSeetransport to establish the Kenya National Shipping line,\nwith an initial capital of 100 mln shillings, sources said. KPA\nwill hold 70 pct of the shares in the new company.\n    The line will initially charter vessels to operate services\nbetween Mombasa and the main ports of industrial Europe, but\nmay eventually build or buy its own ships. The sources said it\nwould aim to carry a large part of Kenya's coffee and tea\nexports and oil and fertiliser imports.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:50:59.70",
    "topics": [
      "ship"
    ],
    "places": [
      "kenya",
      "uk",
      "west-germany"
    ],
    "id": "1723"
  },
  {
    "title": "NEW BANK RULES TOUGHER THAN NEEDED, DEALERS SAY",
    "body": "U.S. and U.K. bank regulators are asking\nbanks to set aside more reserves than is necessary to cushion\nthem against the risks posed by the interest rate and currency\nswap transactions they carry, swap dealers said.\n    After viewing proposed guidelines released jointly today by\nthe Bank of England and the Federal Reserve Board, dealers said\nthat in effect, regulators are asking them to set aside\nreserves twice for the same risk.\n    Market participants will have 60 days to respond to the\nproposals.\n    Adoption of stiffer capital requirements is especially\nsignificant in the eurobond markets, which saw new issue volume\nof about 183 billion dlrs in 1986 according to figures compiled\nby Euromoney magazine. While no firm figures exist, dealers in\neurobonds estimate that 80 pct of all new issues are involved\nin some swap arrangement. Separately, the ISDA estimates that\nabout 300 billion dlrs worth of swap transactions are\noutstanding. Kenneth McCormick, co-chairman of the\nInternational Swap Dealers Association (ISDA) and President of\nKleinwort Benson Cross Financing Inc, said that the Association\nhas no comment and will study the proposals.\n    \"What they are proposing is really double counting,\" Patrick\nde Saint-Aignan, managing director of swaps for Morgan Stanley\nand Co, said. Instead, he argues, banks should either be\nrequired to hold a percentage of the face value -- say one pct\nper year to maturity -- or to hold a percentage of the cost of\nreplacing the contract in the event of a counterparty default.\n    \"The potential risk factors are very large relative to what\nwe had expected,\" said a director at one U.K. merchant bank.\n\"What they are really doing is asking you to capitalize now --\nto borrow money now -- to cushion you against risk you might\nhave 10 years from now,\" he added.(Adds title first paragraph).\n    Dealers also said they believe that banks not covered by\nthe agreement, such as those based in Japan, will have a\ncompetitive advantage because they will not have to pass the\ncosts on to customers.\n    Indeed, regulators are apparently also concerned about the\nexclusion of other countries from the new requirements. Federal\nReserve Board Governor Martha Seger, following approval of the\nproposed guidelines by the Fed, said she is concerned that\nJapan was not involved in the U.K.-U.S. effort to draft new\ncapital rules.\n     Dealers said they were somewhat relieved to see that bank\nregulators recognized the concept of netting, that is,\noffsetting the amounts receiveable from and payable to a single\ncounterparty against each other.\n    The paper said that regulatory authorities \"recognize that\nsuch arrangements (netting) may in certain circumstances reduce\ncredit risk.\" Furthermore, the paper said, if a netting\nagreement could be reached that would withstand legal tests, it\nmight be willing to reduce capital requirements accordingly.\n    But dealers said they fear regulators may insist on an\nairtight netting agreement that is impossible to design.\n     \"One problem is that there has never been a major default\nin the swaps market. So we don't know if any of the swap\narrangements will really stand up in court,\" said one bank\nofficial.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:52:13.28",
    "topics": [
      "interest",
      "money-fx"
    ],
    "places": [
      "uk",
      "usa"
    ],
    "id": "1724"
  },
  {
    "title": "SPEAKES SAYS HE, REAGAN MISLED PUBLIC UNWITTINGLY",
    "body": "Former White House spokesman Larry\nSpeakes said he and President Reagan misled the public\nunintentionally on the Iran arms scandal because they\nthemselves were misled by others.\n    In a televised interview, Speakes was contrasting the\ndefensive, much-criticized efforts Reagan made in early\nattempts to cool the scandal with the dynamic speech he\nexpected when the president addressed the nation tonight.\n    \"When we went into those press conferences and that\nnationwide address in November right after the (Iran) story\nbroke, the president did not have the proper information,\"\nSpeakes said.\n    \"And that's why we were misled. And consequently, the\npresident and I misled the public, to a certain extent.\"\n    \"We were badly served by the people that were involved in\nthe Iranian crisis and running the show.\"\n    Asked whom he meant, Speakes said former National Security\nAdviser Robert McFarlane; McFarlane successor John Poindexter;\nand then-National Security Council aide Oliver North.\n    Speakes said those three had prepared a false chronology of\nevents \"that misled us into thinking that we had all the facts\n...\"\n    McFarlane has said that he, North and Poindexter had\ndoctored a White House chronology to obscure and minimize\nReagan's role in the arms sales. He said they did that as part\nof an effort to prepare the president for a November 19 news\nconference.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:52:48.63",
    "places": [
      "usa",
      "iran"
    ],
    "id": "1725"
  },
  {
    "title": "BANK OF CANADA MADE AGGRESSIVE USE OF T-BILLS",
    "body": "The Canadian government's reduced\nborrowing needs enabled the Bank of Canada to make \"aggressive\nuse\" of short term debt instruments and pare the cost of\nfinancing in 1986, the central bank said in its annual report.\n    The report, authored by retired governor Gerald Bouey, also\nnoted advances to Canadian banks fell to under one billion dlrs\nat the end of the year from more than four billion dlrs in\nJanuary, 1986, and that the country's economy performed\nunevenly while inflation remained a major concern.\n    Bouey said the bank was able to reduce the number of new\nbond issues with maturities of 10 years of more, lessen the\nreliance on Canada Savings Bonds while raising substantailly\nmore through short term treasury bill financings.\n    \"The aggressive use of the treasury bill program has meant\nthat the government is now able to maintain lower cash balances\nand lower financing costs,\" said Bouey who was replaced by\ndeputy governor John Crow last month.\n    The amount of treasury bills outstanding at year end was\n69.7 billion dlrs, an increase of 10.3 billion dlrs over the\nyear and 20 billion dlrs since 1984.\n    The reduction in borrrowing needs was brought about by an\neight billion dlr decline in the government's financing\nrequirements, a run down in Ottawa's cash balances, and\ngeneration of 2.3 billion dlrs from foreign exchange\ntransactions.\n    Also in pursuit of shorter term financing, the bank made\ngreater use of bond auctions to market new issues with two to\nfive year maturities, Bouey said.\n    Bouey said payments to chartered banks, which are made to\nbanks that are facing liquidity problems, dropped to an average\nof 832.3 mln dlrs at end of December from a peak of 5.2 billion\ndlrs in March, 1986.\n    The advances were made largely to four banks, Canadian\nCommercial Bank, Northland Bank, Continental Bank of Canada and\nthe Bank of British Columbia. The first two banks have been\nliquidated, which enabled partial repayment of advances, and\nthe remaining two banks were sold and the new owners repaid the\nadvances.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 14:58:04.38",
    "places": [
      "canada"
    ],
    "id": "1726"
  },
  {
    "title": "SHAW'S SUPERMARKETS INC  YEAR JAN 3",
    "body": "Shr 1.23 dlrs vs 1.33 dlrs\n    Semi-annual div six cts vs six cts prior payment\n    Net 16.2 mln vs 14.8 mln\n    Sales 1.09 billion vs 909.4 mln\n    NOTE: Dividend is payable April one to holders of record\nMarch nine\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:00:06.95",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1727"
  },
  {
    "title": "ROBERT BRUCE  DOWNGRADED BY S/P",
    "body": "Standard and Poor's said it lowered\nRobert Bruce Industries Inc's 15 mln dlrs of subordinated\ndebentures to CCC from B-minus because of a deterioration in\nearnings and cash flow.\n    Debt leverage has risen to 87 pct and the company has\nsuspended dividend payments to conserve cash, S and P noted.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:00:28.79",
    "places": [
      "usa"
    ],
    "id": "1728"
  },
  {
    "title": "DYNAMICS CORP  IN SETTLEMENT WITH CTS ",
    "body": "Dynamics Corp of America said\nit has reached an agreement with CTS Corp resolving all\ndifferences between the two companies.\n    It said as a result of the settlement, CTS's special board\ncommittee has stopped soliciting orders to purchase some or all\nof CTS.\n    Dynamics, which now owns 27.5 pct of CTS' outstanding\nstock, said it agreed to limit its shareholdings to not more\nthan 35 pct of the outstanding shares for a year following the\ncompany's 1987 annual meeting.\n    Dynamics said the CTS board will recommend CTS shareholders\nvote at the 1987 annual meeting in favor of the company paying\nDynamics 2,178,000 dlrs as a reimbursement for its CTS releated\ncosts and granting Dynamics an option to buy enough CTS common\nat 29.625 dlrs a share to give it ownership of 35 pct of the\noutstanding stock.\n    Dynamics said the price of stock under the option,\nexercisable for one year, is based on the average closing price\nfor the stock for the five days ending March two.\n    Dynamics said CTS Chairman George F. Sommer will assume the\nadditional title of President. Former President Robert D.\nHostetler is resigning as a director, as is Chief Financial\nOfficer Gary B. Erekson, Ted Ross and Donald J. Kacek.\n    Dynamics said the CTS board will be reduced to seven\nmembers for eight with the remaining four members of the\ncurrent board and three representatives of Dynamics as new\ndirectors.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:00:55.67",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1729"
  },
  {
    "title": "CME POSTPONES RULING ON DUAL TRADING PETITION",
    "body": "Chicago Mercantile Exchange, CME,\ndirectors have postponed action on a membership petition\ncalling for a ban on dual trading, CME Chairman Jack Sandner\ntold Reuters.\n    Consideration of the petition was scheduled for a regular\nboard meeting today, but directors first wanted the opinions of\na special committee that has been studying trading conditions\nin the Standard and Poor's 500 futures pit for the last six\nmonths.\n    \"We didn't want to preempt the committee,\" Sandner said.\n    Instead, Sandner said the board will wait for the findings\nof the special S and P committee, which is considering some\ntype of restriction on dual trading in S and P 500 futures.\n    Dual trading is the legal practice in which an exchange\nmember can execute customer orders as well as trade for his own\naccount. Critics maintain the practice provides an opportunity\nfor traders to \"front-run\" or trade their own accounts at more\nfavorable prices before customer orders are executed. Sandner\nsaid he expects the special committee to report its findings\nlate next week and the board to act when those findings are\npresented.\n    In response to reports that the CME board is opposed to a\nban on dual trading, Sandner pointed out that the board already\nunanimously approved a partial ban on dual trading in S and P\n500 futures at a prior meeting.\n    The change was withheld, however, at the request of the\nspecial committee after a study was released and the committee\nfelt the issue should be addressed more comprehensively,\nSandner said.\n    Sandner said that he personally had no aversion to a ban on\ndual trading and \"the leadership (of the CME) is not opposed to\na ban on dual trading.\"\n    Last week, CME special counsel Leo Melamed said the special\nstudy committee is considering changes only for S and P 500\nfutures and options on futures.\n    In addition to the dual trading issue, the committee is\nalso expected to make recommendations on the possibility for\nelectronic order entry and execution for S and P 500 futures\nand rule changes to alleviate crowded conditions in the S and P\ntrading pit, Melamed said.\n    Melamed said at the time that in matters where a special\ncommittee is appointed, recommendations from the committee are\nusually approved by the exchange board of directors.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:02:15.77",
    "id": "1730"
  },
  {
    "title": "RENEWAL OF U.S./USSR GRAIN PACT SAID UNCERTAIN",
    "body": "Prospects for renewal of the\nfive-year U.S./USSR grains agreement are uncertain at this\npoint, a Soviet trade official told Reuters.\n    The current trade imbalance between the United States and\nthe Soviet Union, high U.S. commodity prices, and increased\nworld grain production make a renewal of the supply agreement\nnext year less certain, Albert Melnikov, deputy trade\nrepresentative of the Soviet Union, said in an interview.\n    The current agreement expires on Sept 30, 1988.\n    Melnikov said that world grain markets are different than\nwhen the first agreement was signed in 1975.\n    Statements from both U.S. and Soviet officials have\nindicate that a long term grains agreement might not be as\nattractive for both sides as it once was.\n    \"We have had one agreement. We have had a second agreement,\nbut with the second agreement we've had difficulties with\nprices,\" Melnikov said.\n    \"I cannot give you any forecasts in response to the future\nabout the agreement.... I do not want to speculate on what will\nhappen after Sept 30, 1988,\" he said.\n    Melnikov noted that he has seen no indications from Soviet\ngovernment officials that they would be pushing for a renewal\nof the agreement.\n    \"The situation is different in comparison to three, five or\nten years ago ... We can produce more,\" he said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:06:37.82",
    "topics": [
      "grain"
    ],
    "places": [
      "usa",
      "ussr"
    ],
    "id": "1731"
  },
  {
    "title": "DANAHER  EXPECTS EARNINGS INCREASE IN 1987",
    "body": "Danaher Corp said it expects higher\nearnings in 1987 versus 1986.\n    \"We expect significant increases in earnings and revenues\nin 1987,\" Steven Rales, Danaher chairman and chief executive\nofficer, said.\n    Earlier, the company reported 1986 net earnings of 15.4 mln\ndlrs, or 1.51 dlrs a share, versus 13.5 mln dlrs, or 1.32 dlrs\na share, in 1985.\n    It also reported fourth quarter net of 7.3 mln dlrs, or 71\ncts a share, up from 4.4 mln dlrs, or 43 cts a share, in the\nprevious year's fourth quarter.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:07:16.19",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1732"
  },
  {
    "title": "CHRYSLER  TO MODERNIZE ILLINOIS PLANT",
    "body": "Chrysler Corp's Chrysler Motors Corp\nsaid it will spend 367 mln dlrs at its Belvidere, Ill.,\nassembly plant to modernize the facility.\n    Chrysler said the plant, its sixth to undergo extensive\nmodernization, will be shut down for model changeover starting\nMarch five.\n    Some 2,800 workers of the plant's 3,300 hourly employees\nwill be temporarily laid off for 18 weeks from March five\nthrough mid-July. The other 500 workers will remain at the\nplant in maintenance, retooling and material handling jobs.\n    Chrysler said the 367 mln dlr expenditure is part of a 720\nmln dlr development program at Belvidere.\n    The rest of the money will be spent developing Chrysler's\nNew York and Dodge Dynasty four-door sedans to be built at the\nplant.\n    Modernization of the 22-year-old facility is part of\nChrysler's five-year, 12.5 billion dlr company-wide program to\nbring its manufacturing operations up to current standards.\n    Chrysler said it will increase the number of robots at\nBelvidere to 244 from 41. The robots will be used in welding,\nmaterial handling and sealing.\n    Chrysler will also help retrain the plant's workforce. The\nState of Illinois has committeed 10 mln dlrs in training funds\nto the project.\n    When the plant reopens in July, Chrysler workers will have\ncompleted more than five mln classrom and on-the-job hours in\nretraining, the company said.\n    The July restart will be on a single-shift basis.\nSecond-shift production will start this fall.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:09:15.96",
    "places": [
      "usa"
    ],
    "id": "1733"
  },
  {
    "title": "DANAHER CORP  4TH QTR NET",
    "body": "Shr 71 cts vs 43 cts\n    Net 7,274,000 vs 4,447,000\n    Rev 161.6 mln vs 77.6 mln\n    Year\n    Shr 1.51 dlrs vs 1.32 dlrs\n    Net 15,401,000 vs 13,525,000\n    Rev 454.0 mln vs 304.9 mln\n    NOTE: Fourth qtr net includes extraordinary gain of 3.8 mln\ndlrs, or 37 cts per share, versus 2.9 mln dlrs, or 28 cts a\nshare, in 1985's fourth qtr, and an extraordinary charge of\n642,000 dlrs, or six cts a share. 1986 net includes\nextraordinary gain of 7.4 mln dlrs, or 72 cts a share, versus\n8.0 mln dlrs, or 78 cts a share, in 1985.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:10:04.52",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1734"
  },
  {
    "title": "TWA  MAKES MERGER OFFER FOR USAIR ",
    "body": "Trans World Airlines said it has\nproposed a cash merger of USAir Group with TWA in which the\nholders of USAir common would receive 52 dlrs in cash in\nexchange for their stock.\n    TWA said the offer was made in a letter to Edmin Colodny,\nchairman and president of USAir.\n    TWA said, however, that if the negotiated deal is not\nacceptable it may make an offer directly to USAir's\nshareholders for up to 51 pct of USAir's outstanding stock, to\nbe purchased in a voting trust at a price lower than today's\noffer.\n    TWA said it is filing an application with the Department of\nTransportation seeking approval of the merger as well as an\napplication for approval, on an expedited basis, of its\npurchase of up to 51 pct of USAir common and the deposit of the\nstock in a voting trust, pending DOT approval.\n    TWA said that in respect to USAir's recent offer for\nPiedmont Aviation  it believes that USAir's shareholders\nwould prefer a cash merger proposal for USAir over its proposed\nacquisition of Piedmont.\n    TWA said, however, it also would be interested in\ndiscussing a three way deal among USAir, Piedmont and TWA.\n    TWA said the merger is subject to the USAir board redeeming\nthe preferred stock purchase rights (the poison pill) issued to\nshareholders last year and taking action so that the vote of a\nmajority of the outstanding common stock is required to approve\nits proposed move.\n    Additionally, TWA said it would need a satisfactory due\ndiligence review of USAir.\n    TWA said it has not yet had an opportunity to obtain the\nnecessary financing for the deal, but added it is confident\nthat it will get it.\n   \n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:10:31.00",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1735"
  },
  {
    "title": "CHRYSLER  CANADA FEBRUARY CAR SALES FALL",
    "body": "Chrysler Canada Ltd, wholly\nowned by Chrysler Corp, said February car sales fell to 9,640\nunits from year-earlier 11,967 units.\n    Chrysler Canada said year-to-date car sales fell to 18,094\nunits from 22,073 units in the same period last year.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:13:04.11",
    "places": [
      "canada"
    ],
    "id": "1736"
  },
  {
    "title": "TEXAS INSTRUMENTS  EXECUTIVE TO RETIRE",
    "body": "Texas Instruments Incorp said its\nexecutive vice president Grant Dove will take an early\nretirement effective July.\n    The company said Dove will become chairman and chief\nexecutive officer of  of Austin. He will have worked 28 years with Texas\nInstruments, the company said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:13:16.73",
    "places": [
      "usa"
    ],
    "id": "1737"
  },
  {
    "title": "GZB INCREASES BOND ISSUE TO 1.8 BILLION SCHILLINGS",
    "body": "Genossenschaftliche Zentralbank AG \nsaid that it had increased its three-part bond issue to 1.8\nbillion schillings from the 1.5 billion orginally planned.\n    GZB said in a statement that the amount being issued\nbetween today and March 6 had been raised due to heavy demand.\n    A 12-year tranche caries seven pct interest with an issue\nprice of 100.75 while an eight-year part, issued at 100.5,\ncarries a 6.75 pct. The third, 20-year tranche offers 6.5 pct\ninterest in the first year, but afterwards interest will be\nfixed annually at the average of secondary market rates.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:13:58.40",
    "places": [
      "austria"
    ],
    "id": "1738"
  },
  {
    "title": "CTS  AND DYNAMICS  REACH ACCORD",
    "body": "CTS Corp and Dynamics Corp of\nAmerica reached an agreement resolving all outstanding\ndifferences between them, according to a joint statment.\n    As a result of the settlement, a special committee of the\nboard of directors of CTS stopped soliciting offers to buy all\nor part of the company, it said.\n    CTS and DCA also agreed to dismiss all pending litigation\nbetween the two companies except for one appeal pending before\nthe U.S. Supreme Court relating to the Indiana Control Share\nChapter, it said.\n    Under the agreement, the CTS board will immediately be\nreduced to seven from eight with four current directors and\nthree representatives of DCA being elected to the board, it\nsaid. This board will be presented as the slate for CTS' 1987\nannual shareholders meeting, it added.\n    CTS' directors will recommend to shareholders that they\napprove reimbursement to DCA of about 2.2 mln dlrs in expenses\nrelating to CTS, and grant DCA an option to buy up to 35 pct of\nCTS' shares, it said.\n    In addition, DCA said it agreed to limit its ownership in\nCTS for the year following the 1987 annual meeting to not more\nthan 35 pct of the outstanding stock. DCA currently holds 27.5\npct of the outstanding shares of CTS.\n    Both companies said they support the agreement and believe\nit to be fair to both sides.\n   \n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:14:05.97",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1739"
  },
  {
    "title": "MEASUREX  SELLS SOUTH AFRICAN UNIT",
    "body": "Measurex Corp said it\ncompleted the sale of its Measurex (South Africa Pty)\nsubsidiary to a group of employees who manage the operation.\n    Measurex, a maker of computer integrated manufacturing\nsystems, said the subsidiary represented less than one pct of\nworldwide revenues and the sale will have no impact on this\nyear's earnings.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:14:59.91",
    "topics": [
      "acq"
    ],
    "places": [
      "usa",
      "south-africa"
    ],
    "id": "1740"
  },
  {
    "title": "JEFFERIES MAKING MARKET IN USAIR ",
    "body": "Jefferies and Co said it is making a\nmarket in the stock of USAir Group Inc at 48-1/2 to 50.\n    USAir received an offer from Trans world airlines to buy\nthe airline at 52 dlrs cash per share.\n    USAir was halted on the New York Stock EXcahnge for\ndissemination of the news. It was indicated at 47 to 54.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:18:43.43",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1741"
  },
  {
    "title": "FEDERAL EXPRESS  PURSUES OVERSEAS ROUTE",
    "body": "Federal Express Corp said it received a\nrecommendation from an administrative law judge that it be\nawarded the exclusive air express route between the U.S. and\nJapan.\n    Federal Express said the recommendation now must be\napproved by the Secretary of Transporation Elizabeth Dole and\nPresident Reagan.\n    Federal Express said it received late last year preliminary\napproval by a panel over a consortium of United Parcel Service\nand DHL, and other air express competitors.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:19:45.40",
    "places": [
      "usa",
      "japan"
    ],
    "id": "1742"
  },
  {
    "title": "AMERICAN HONDA MOTOR CO FEBRUARY SALES RISE",
    "body": "Honda Motor Co Ltd of Japan's\nAmerican Honda Motor Co Inc unit said its February sales rose\nto 56,704 from 48,443 a year ago.\n    The sales figures include sales of 7,056 cars from its new\nAcura division, which was not in place a year ago. Year to date\nsales totaled 102,751 at the end of February, up from 98,724. \nThis included sales of 12,723 from the Acura division.\n    In the company's Honda division, sales of the Accord model\nled the monthly and year-to-date totals, followed by Civic\nsales, then Prelude sales. In the Acura division, Intera sales\noutpaced Legend sales.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:20:03.25",
    "places": [
      "usa"
    ],
    "id": "1743"
  },
  {
    "title": "KLM LOWERS TRANSATLANTIC FARES",
    "body": "KLM Royal Dutch Airlines , in\na move following similar steps recently by U.S. carrier TWA,\nsaid it is cutting its fares on transatlantic flights from\nApril 1.\n    From April 1, a return fare Amsterdam-New York will be cut\nby eight per cent to 1,099 guilders for the low season until\nmid-June, when seasonal increases will come into effect.\n    KLM recently rejected invitations by TWA to coordinate\nprice cuts on the Amsterdam route and a spokesman said KLM had\nonly moved now to start up a nationwide promotional campaign in\nthe Netherlands to boost travel to the U.S.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:20:11.63",
    "places": [
      "netherlands"
    ],
    "id": "1744"
  },
  {
    "title": "ANHEUSER-BUSCH  TO BUILD PLANT",
    "body": "Anheuser-Busch Cos' Metal Container\nCorp said it plans to build a beverage can manufacturing plant\nat Chester, N.Y.\n    The facility is expected to become operational in late\n1988.\n    Metal Container operates six can and lid plants in the\nU.S., and plans to build three more, including the Chester\nfacility. Facilities are under construction at Windsor, Colo.,\nand Riverside, Calif.\n    The Anheuser-Busch unit said it expects to produce six\nbillion cans and eight billion lids in 1987.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:22:01.58",
    "places": [
      "usa"
    ],
    "id": "1745"
  },
  {
    "title": "REAGAN IRAN SPEECH SAID TO ADMIT NEED FOR CHANGE",
    "body": "President Reagan, fighting to recover\npolitically from the Iran-contra scandal, plans to acknowledge\nin a critical speech to the nation tonight he needs to change\nhis ways, administration officials said.\n    \"It will be a forward-looking speech in which he will say he\naccepts the need for change,\" said an official who asked not to\nbe identified. \"I think the president wants to give his side of\nthe story.\"\n    The official said Reagan would tell the public what he is\ndoing to set things right in the wake of last week's scorching\nTower commission report on the origins of the scandal.\n    It is not clear whether Reagan will heed the advice of many\nof his political allies and acknowledge that his Iran policy\nwas wrong and he personally made some mistakes.\n    Asked at his daily news briefing if the president would say\nhe erred, White House spokesman Marlin Fitzwater told\nreporters, \"His views are intensely personal and I won't give\nyou any advance on what he intends to say in that area.\"\n    He said the speech would be 12 or 13 minutes in length and\nthat Reagan would \"look beyond the horizon to a revitalized\nWhite House that will pursue an active foreign policy.\"\n    \"The president will discuss the Tower board report and its\nrecommendations. He'll focus on changes he's making in the\nstructure of the NSC (National Security Council) and his goals\nfor the next two years,\" the spokesman said.\n    To date, Reagan has defended his decision to sell arms to\nIran and conceded only there were errors in implementation.\n    Senate Republican leader Robert Dole said tonight's speech\nmight be Reagan's last chance to repair his presidency.\n    \"It's about the ninth inning ... he has to try and set us on\nanother course. It's hard to do that, he probably won't be able\nto do it,\" Dole told reporters.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:23:45.58",
    "places": [
      "usa",
      "iran"
    ],
    "id": "1746"
  },
  {
    "title": "TRANS-LUX  SETS FIVE PCT STOCK DIVIDEND",
    "body": "Trans-Lux Corp said its board\ndeclared a five pct stock dividend payable April nine to\nholders of record March 20.\n    The company said directors also declared regular quarterly\ndividends on presently outstanding shares of both classes of\ncommon, payable April nine to holders of record March 16.\n    It said an unchanged dividend of two cts will be paid on\nthe common and 1.8 cts on the Class B stock.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:24:20.16",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1747"
  },
  {
    "title": "LACANA  NAMES NEW CEO AND PRESIDENT",
    "body": " said Gil L.\nLeathley was appointed president and chief executive, replacing\nWilliam Gross who retired.\n    The company said Gross will continue as a director and\nexecutive committee member.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:25:23.08",
    "places": [
      "canada"
    ],
    "id": "1748"
  },
  {
    "title": "NOLAND CO  NAMES NEW CHIEF EXECUTIVE",
    "body": "Noland Co said effective April\n23, when Lloyd U. Noland Jr. turns 70 and retires as previously\nannounced as chairman and president, Lloyd U. Noland\nIII will become chairman and chief executive officer and Carl\nWatson president and chief operating officer.\n    The company said Noland III, 43, is vice president, manager\nof merchandising for plumbing and heating products. Watson, 64,\nis executive vice president, marketing.\n    It said Noland Jr. will also leave the board on April 23,\nalong with S.Q. Groover a retired Noland executive serving as a\nconsultant on real estate and facilities matters.\n\n\n\u0003",
    "date": " 4-MAR-1987 15:26:18.90",
    "places": [
      "usa"
    ],
    "id": "1749"
  },
  {
    "title": "XEROX CREDIT  NOTES YIELD 8.061 PCT",
    "body": "A 100 mln dlr offering of Xerox Credit\nCorp 12-year notes was given an eight pct coupon and priced at\n99.534 to yield 8.061 pct, Salomon Brothers Inc said as lead\nmanager.\n    The securities of the Xerox Corp unit are not callable for\nseven years. The yield reflected a premium of 91 basis points\nover that of comparable U.S. Treasury issues.\n    Moody's Investors Service Inc rates the notes at A-2,\ncompared with A-plus from Standard and Poor's Corp.\n Reuter\n\u0003",
    "date": "  4-MAR-1987 15:30:38.94",
    "places": [
      "usa"
    ],
    "id": "1750"
  },
  {
    "title": "KANEB ENERGY PARTNERS LTD  4TH QTR LOSS",
    "body": "Shr loss one cent\n    Net loss 186,000\n    Revs 10.7 mln\n    11 mths\n    Shr loss 7.26 dlrs\n    Net loss 121.4 mln\n    Revs 46.9 mln\n    NOTE: In February 1986, Kaneb Services Inc contributed all\nof its domestic oil and gas operations to Kaneb Partners, which\nwas newly formed, and exchanged approximately 3,200,000\ndepositary units respresenting limited partnership interests in\nKEP for approximately 6,400,000 million shares of the\noutstanding common stock of Kaneb Servies Inc. Kaneb now owns\napproximately 82 pct of KEP.\n    During the 11 mths of operation, the partnership wrote down\nthe carrying value of its oil and gas properties by 124.8 mln\ndlrs. The write downs reduced income by 7.46 dlrs per limited\npartnership unit.\n   \n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:31:24.23",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1751"
  },
  {
    "title": "DALTON COMMUNICATIONS INC  3RD QTR JAN 31",
    "body": "Shr profit three cts vs loss two cts\n    net profit 157,500 vs loss 60,200\n    Revs 1.1 mln vs 1.0 mln\n    Nine months\n    Shr profit five cts vs profit six cts\n    Net profit 223,400 vs profit 260,800\n    Revs 3.2 mln vs 3.1 mln\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:31:38.93",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1752"
  },
  {
    "title": "GREEN MOUNTAIN  TO SELL POWER TO UTILITY",
    "body": "Green Mountain Power Corp\nsaid it signed an agreement to provide , a private utility based in Gilman, Conn., with all its\nelectric power requirements.\n    Under the agreement, which runs through 1996, Green\nMountain said it will sell the utility roughly 30,000\nmegawatt-hours, generating about 1.5 mln dlrs in revenues.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:32:15.00",
    "places": [
      "usa"
    ],
    "id": "1753"
  },
  {
    "title": "FNMA CLARIFIES CURRENT DEBT OFFERING STATUS",
    "body": "The Federal National Mortgage\nAssociation said it wanted to clarify the status of yesterday's\noffering of one billion dlrs of debentures, due March 10, 1992.\n    It said the offering was a new issue and not a reopening as\nstated yesterday. FNMA had said the offering was a reopening of\na 1972 20-year issue.\n    The debtentures will settle on March 10, 1987.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:32:40.18",
    "places": [
      "usa"
    ],
    "id": "1754"
  },
  {
    "title": "VENTURE FUNDING CORP EXTENDS WARRANT PERIOD",
    "body": " said\nit has extended the exercise period on its outstanding class A\nand B warrants until April 15, 1988.\n    The original exercise date was April 15, 1987.\n    The company also said it has executed a non-binding letter\nof intent to acquire three affiliated California corporations\nthat own and operate Mexican food restaurants.\n    It said it has placed \"stop transfer\" orders to prevent\nexercise of the warrants until adequate information is made\navailable about the proposed business combination and the\nbusinesses to be acquired.\n   \n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:33:42.43",
    "places": [
      "usa"
    ],
    "id": "1755"
  },
  {
    "title": "DUFF/PHELPS LOWERS PUBLIC SERVICE ELECTRIC ",
    "body": "Duff and Phelps lowered the ratings\nassigned to Public Service Electric and Gas Company's fixed\nincome securities valued at a total of 3.44 billion dlrs.\n    The company's 2.61 billion dlrs in first mortgage bonds\nwere downgraded to DP-4 (low AA) from DP-3 (middle AA). The\nratings on its debentures and preferred stock valued at 213 mln\nand 619 mln dlrs, respectively, were lowered to DP-5 (high A)\nfrom DP-4.\n    Duff and Phelps said the utility's debt ratings were\nlowered because of the recent negative rate order for its Hope\nCreel nuclear plants.\n    \"This order included highly stringent performance standards\nfor the company's five nuclear plants,\" the ratings agency\nsaid.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:34:13.73",
    "places": [
      "usa"
    ],
    "id": "1756"
  },
  {
    "title": "ADVANCED GENETIC SCIENCES  NAMES DIRECTOR",
    "body": "Advanced Genetic Sciences Inc said Debra\nCoyman was named director of business development of the\ncompany. The company said Coyman was previously director of\nproduct development of Agrigenetics Research Corp in Boulder,\nColo.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:34:23.19",
    "places": [
      "usa"
    ],
    "id": "1757"
  },
  {
    "date": " 4-MAR-1987 15:35:42.66",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1758"
  },
  {
    "title": "WTD INDUSTRIES INC  3RD QTR JAN 31 NET",
    "body": "Shr profit 13 cts vs loss one ct\n    Net profit 853,000 vs loss 22,000\n    Sales 41.1 mln vs 20.3 mln\n    Avg shrs 6,349,753 vs 4,403,852\n    Nine Mths\n    Shr profit 57 cts vs profit 28 cts\n    Net profit 2,869,000 vs profit 1,252,000\n    Sales 119.0 mln vs 67.6 mln\n    Avg shrs 5,054,844 vs 4,403,852\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:36:12.38",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1759"
  },
  {
    "title": "HEALTHVEST  SELLS SHARES",
    "body": "Healthvest, a Maryland real estate\ninvestment trust, said it began selling five mln shares of\ncommon stock at 21 dlrs a share.\n    The company said it is also selling 543,237 shares to\nHealthcare International Inc , giving the company a 9.8\npct stake in Healthvest.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:36:52.88",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1760"
  },
  {
    "title": "CACEX DENIES BRAZIL FCOJ PRICE RISE RUMOURS",
    "body": "There has been no rise in the\nprice of Frozen Concentrated Orange Juice, FCOJ, a spokesman\nfor the Banco do Brasil's Foreign Trade Department, Cacex,\nsaid.\n    He was responding to rumours in the international market\nthat Brazil had raised its FCOJ prices in range of 1,075 to\n1,150 dlrs per tonne.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:37:10.28",
    "topics": [
      "orange"
    ],
    "places": [
      "brazil"
    ],
    "id": "1761"
  },
  {
    "title": "EPITOPE  TO MARKET AIDS TEST",
    "body": "Epitope Inc said it has\ndeveloped a Western Blot AIDS test and it will begin worldwide\nmarketing efforts immediately.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:37:43.16",
    "places": [
      "usa"
    ],
    "id": "1762"
  },
  {
    "title": "E-SYSTEMS  SETS QTRLY PAYOUT",
    "body": "Qtrly div 12.5 cts vs 12.5 cts prior\n    Pay April 1\n    Record March 13\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:41:12.68",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1763"
  },
  {
    "title": "PIEDMONT MANAGEMENT CO INC  4TH QTR",
    "body": "Shr 70 cts vs 4.91 dlrs\n    Net 3.7 mln vs 26.3 mln\n    Year\n    Shr 1.99 dlrs vs 3.35 dlrs\n    Net 10.7 mln vs 18.0 mln\n    NOTE:1986 year, 4th qtr include capital gains of 3.5 mln\ndlrs and 1.1 mln dlrs, respectively and extraordinary gain of\n3.4 mln dlrs and 1.2 mln dlrs respectively. 1985 year and 4th\nqtr include capital gains of 24.0 mln dlrs and 23.3 mln dlrs\nrespectively and extraordinary gain of 3.9 mln dlrs.\n        \n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:41:37.15",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1764"
  },
  {
    "title": "EASTPARK REALTY TRUST  4TH QTR NET",
    "body": "Shr 1.52 dlrs vs 17 cts\n    Net 1,306,000 vs 144,000\n    Rev 758,000 vs 670,000\n    Year\n    Shr 2.68 dlrs vs 2.63 dlrs\n    Net 2,313,000 vs 2,285,000\n    Rev 2.8 mln vs 2.7 mln\n    NOTE: Fourth qtr and 1986 had gains on real estate\ninvestments of 933,000 dlrs, or 1.08 a share, and 970,000 dlrs,\nor 1.12 a share, respectively.\n    This compares with a loss of 137,000 dlrs, or 15 cts a\nshare, and again of 1.3 mln dlrs, or 1.45 a share, for the\nfourth qtr and year respectively in 1985.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:42:13.66",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1765"
  },
  {
    "title": "IRVINE SENSORS  COMPLETES UNIT OFFERING",
    "body": "Irvine Sensors Corp said it\ncompleted a public offering of 1.25 mln units, consisting of\ntwo shares of common stock and one warrant to purchase an\nadditional share.\n    The units were sold at a price of 1.60 dlrs each, Irvine\nSensors said, adding, the units will trade under the NASDAQ\nsymbol \"IRSNU\" and the new warrants under the symbol \"IRSNW.\"\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:42:19.87",
    "places": [
      "usa"
    ],
    "id": "1766"
  },
  {
    "title": "NL INDUSTRIES INC  SETS QTRLY PAYOUT",
    "body": "Qtrly div five cts vs five cts qtr\n    Pay April One\n    Record  March 16\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:42:25.75",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1767"
  },
  {
    "title": "WTD INDUSTRIES INC  3RD QTR JAN 31 NET",
    "body": "Shr profit 13 cts vs loss one ct\n    Net profit 853,000 vs loss 22,000\n    Revs 41.1 mln vs 20.3 mln\n    Avg shrs 6,349,753 vs 4,403,852\n    Nine mths\n    Shr profit 57 cts vs profit 28 cts\n    Net profit 2,869,000 vs profit 1,252,000\n    Revs 119.0 mln vs 67.6 mln\n    Avg shrs 5,054,844 vs 4,403,000\n    Note: Company went public in October 1986.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:43:29.24",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1768"
  },
  {
    "title": "ALASKA AIR GROUP INC  QTLY DIVIDEND",
    "body": "Shr four cts vs four cts prior qtr\n    Pay May five\n    Record April 15\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:43:40.65",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1769"
  },
  {
    "title": "FORMER BANK CHAIRMAN ADMITS ACCEPTING BRIBES",
    "body": "The former chairman of Peoples National\nBank of Rockland County, N.Y., pleaded guilty to charges of\nbribery and income tax evasion.\n    Leonard Slutsky, 41, faces up to five years in prison on\neach of two counts of bank bribery and tax evasion. He could\nalso be fined up to 745,000 dlrs.\n    In his guilty plea before Judge Charles Brieant of the\nWhite Plains, N.Y. branch of U.S. District Court, Slutsky\nadmitted accepting payments from a tax shelter promoter.\nPeoples had lent money to investors in the tax shelter. The\nbank was declared insolvent in September, 1984.\n    Another former official of the bank, Samuel Yonnone, 37,\npled guilty today to conspiring to accept money from a broker\nto make false entries in the bank's books. Yonnone, who was\nsenior vice president of the bank, faces five years in jail and\na 250,000 dlr fine.\n    The 41-year-old Slutksy admitted accepting 165,000 dlrs in\nbribes.\n\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:44:38.77",
    "places": [
      "usa"
    ],
    "id": "1770"
  },
  {
    "title": "USAIR  HAS NO COMMENT ON TWA  OFFER",
    "body": "USAir Group Inc said it had no comment\non an offer it received from Trans World Airlines to buy USAir\nfor 52 dlrs cash per share.\n    USAir spokesman David Shipley also declined comment on\nPiedmont Aviation Inc . USAir has offered 71 dlrs cash per\nshare for half of Piedmont's stock, and 73 dlrs in its own\nstock for the balance.\n    Piedmont also received an offer from Norfolk Southern Corp\n of 65 dlrs cash per share. Piedmont's board was meeting\ntoday, but the company declined to say what was on the agenda.\nA spokesman said he could not comment on the twa action.\n    A Norfolk Southern Corp  spokesman said the company\nhad no comment on TWA's offer for USAir or on its proposal to\nnegotiate a three-way merger between TWA, USAir and Piedmont.\n    \"We don't have all the details,\" a Norfolk Southern\nspokesman said. The company's 65 dlr-a-share cash offer for\nPiedmont stands, he said.\n    In its offer, TWA said as an alternative to a merger with\nUSAir, it would be interested in discussing a three-way\ncombination among USAir, Piedmont and TWA. It said the\nthree-way merger would serve the best interests of the\nshareholders of all three companies, employees and consumers.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:46:21.39",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1771"
  },
  {
    "title": "MORE PRESSURE URGED FOR ASIA TO TAKE U.S. BEEF",
    "body": "Congressmen from beef producing\nstates and representatives of the U.S. livestock industry \nurged the Reagan administration to press Japan and South Korea\nto open up their markets to imports of beef.\n    Testifying at a House subcommittee hearing on livestock\nissues, Rep. Hal Daub (R-Nebr.), said the administration should\npush hard for greater beef imports by Japan and South Korea.\nDaub was joined by several other lawmakers.\n    U.S. assistant trade representative Suzanne Earley, replied\n\"we're not going to let Japan off the hook, or Korea.\" She\nnoted trade representative Clayton Yeutter met with a senior\nKorean official last week on the beef issue, and that Yeutter\nand Agriculture Secretary Richard Lyng will visit Tokyo in\nApril for discussions on farm trade issues.\n    Japan maintains a quota on beef imports, set at 58,400\ntonnes high quality beef in fiscal 1987. South Korea has banned\nbeef imports but there are indications Seoul may bow to U.S.\npressure and allow some imports soon, industry officials said.\n    In testimony today, Tom Cook, director of industry affairs\nfor the National Cattlemens Association said \"the Congress,\nadministration and the industry must take a strong, tough and\nunited stand to impress the Japanese that we mean business and\nthat we expect them to open their markets.\"\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:48:31.88",
    "topics": [
      "livestock",
      "carcass",
      "trade"
    ],
    "places": [
      "usa",
      "japan",
      "south-korea"
    ],
    "id": "1772"
  },
  {
    "title": "SOUTH AFRICAN FOREIGN RESERVES UP SHARPLY IN FEB",
    "body": "South Africa's total gold and\nforeign assets rose by 700 mln rand in February to 6.2 billion\nrand after rising by almost one billion rand in January,\nReserve Bank Governor Gerhard de Kock said.\n    De Kock, interviewed on state-run television, gave no\nbreakdown of the reserves.\n    He also said that to curb inflation, salary increases would\nhave to be below the inflation rate. The state must set an\nexample by keeping wage increases below the inflation rate, he\nsaid.\n    Consumer prices rose by 16.1 pct in the year to January.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:48:53.83",
    "topics": [
      "reserves"
    ],
    "places": [
      "south-africa"
    ],
    "id": "1773"
  },
  {
    "title": "REAGAN CHANGES WHITE HOUSE LAWYERS",
    "body": "President Reagan formally accepted the\nresignation of White House counsel Peter Wallison and named\nArthur Culvahouse, an associate of new White House chief Howard\nBaker, to replace him.\n    Wallison, who has handled White House legal affairs for the\npast year, was closely identified with former chief of staff\nDonald Regan and his departure had been expected.\n    His resignation, which Reagan accepted \"with deep regret,\" is\neffective on March 20.\n    Culvahouse, a 38-year old Tennessee native who currently\npractices law in Washington, was Baker's legislative assistant\nwhen the new chief of staff was Senate Republican leader.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:49:08.67",
    "places": [
      "usa"
    ],
    "id": "1774"
  },
  {
    "title": "E.F. HUTTON GROUP INC  NAMES EXECUTIVE",
    "body": "E.F. Hutton Group Inc said it named\nJerry Welsh to the newly-created post of senior executive vice\npresident for marketing and strategic development.\n    The company said Welsh was previously executive vice\npresident of worldwide marketing and communications for\nAmerican Express' Travel Related Services Co Inc.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:49:21.35",
    "places": [
      "usa"
    ],
    "id": "1775"
  },
  {
    "title": "U.S. DAIRY PRICE SUPPORT CUT SEEN LIKELY IN 1988",
    "body": "The chairman of the U.S. House\nsubcommittee on dairy, livestock and poultry issues, Rep.\nCharles Stenholm (D-Tex.), said it is likely the U.S. dairy\nsupport price will be cut next year.\n    \"It looks like the price cut may take place,\" Stenholm said\nat a hearing today on dairy issues.\n    Under the 1985 farm bill, the Agriculture Secretary can\nlower the U.S. milk price support to 10.60 dlrs per cwt from\nthe current 11.35 dlrs if government purchases of dairy\nproducts are forecast to exceed five billion lbs in 1988.\n    The U.S. Agriculture Department forecasts government\npurchases of dairy products will total six to seven billion lbs\nin fiscal 1987, but says the level of purchases beyond 1987\nwill depend on the production decisions of dairy farmers.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:51:24.83",
    "places": [
      "usa"
    ],
    "id": "1776"
  },
  {
    "title": "MORE SOVIET GRAIN BUYING FROM U.S. TIED TO PRICE",
    "body": "Whether the Soviet Union will fulfill\nits buying obligations under the U.S./USSR grains agreement\ndepends entirely on the United States, a Soviet trade official\ntold Reuters.\n    \"How can I tell that we are ready to fulfill the agreement\nif the United States does not want to offer us grain at\ncompetitive prices?\" said Albert Melnikov, deputy trade\nrepresentative of the Soviet Union to the United States.\n    \"We are in the market for grains, but it is up to the\nUnited States to be the seller ... to offer Soviets competitive\nprices,\" he said in an interview.\n    Melnikov said that the United States has not lived up the\nagreement by failing to make available to Moscow U.S. grain at\nprevailing market prices.\n    \"We are being accused of not implementing this agreement.\nWe do not consider we are at fault,\" Melnikov said.\n    Article I in the agreement states that \"purchases/sales of\ncommodities under this Agreement will be made at the market\nprice prevailing for these products at the time of\npurchase/sale and in accordance with normal commercial terms.\"\n    \"The United States should supply to the Soviet Union\ndefinite quantities of grain at competitive prices ... Is the\nUnited States ready to supply this?\" he said.\n    The Soviet official said that near-term corn demand has\nbeen met by the recent Soviet purchases of U.S. corn, which he\nconfirmed at 1.5 mln tonnes, but said that if U.S. corn prices\nremain competitive, the Soviets will buy more if they need it.\n    Wheat buying, however, is a different story, Melnikov said.\n    \"If the United States is interested in selling its wheat,\nthen they must offer competitive prices, and it's up to the\nUnited States to decide how these competitive prices will be\noffered,\" he said.\n    Last year's U.S. offer of subsidized wheat to the Soviets\nwas rejected because of an insufficient subsidy, Melnikov said.\nHe said that at the time of the 13 dlr per tonne subsidy offer,\nU.S. wheat prices were 26 dlrs over world levels.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:51:44.42",
    "topics": [
      "grain",
      "corn",
      "wheat"
    ],
    "places": [
      "usa",
      "ussr"
    ],
    "id": "1777"
  },
  {
    "title": "COMPUTER IDENTICS  NAMES CHIEF EXECUTIVE",
    "body": "Computer Identics Corp said its\nboard elected Frank Wezniak to the new position of chief\nexecutive officer and as director and president, succeeding\nDavid Collins.\n    Collins, also founder of the company, said he resigned\nbecause the company has progressed beyond the entrepreneurial\nstage and requires the management experience that Weznkiak\npossesses.\n    Wezniak has been active in several early stage venture\ncapital investments and serves on a number of high tech\ncorporation boards.\n    The board alkso accepted a plan to issue subordinated\ndemand notes for 600,000 dlrs to one mln dlrs to an investor\ngroup including Wezniak.\n    The board also voted to expand to seven the number of\ndirectors and ofer a new board seat to a group of investors\nrepresented by N.V. Bekaert S.A.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:52:00.84",
    "places": [
      "usa"
    ],
    "id": "1778"
  },
  {
    "title": "VIRGINIA HOUSING AGENCY CMO BOND ISSUE PRICED",
    "body": "A three-part, 160 mln dlr offering of\nVirginia Housing Development Authority collateralized mortgage\nobligations was priced, First Boston Corp said as a manager.\n    The package includes 84 mln dlrs of CMOs with an average\nlife of 1.1 years priced to yield 6.88 pct and 23.5 mln dlrs of\nbonds with a 5.5 year average life and eight pct return.\n    Rounding out the financing is a 52.5 mln dlr tranche of\nfloating rate CMOs. These offer a return at the three-month\nLibor rate plus 45 basis points.\n    Standard and Poor's rates all of the securities AAA.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:52:36.05",
    "places": [
      "usa"
    ],
    "id": "1779"
  },
  {
    "title": "HARTFORD STEAM BOILER BUYS 600,000 OF ITS SHARES FROM TRAVELERS\n",
    "date": " 4-MAR-1987 15:52:38.04",
    "id": "1780"
  },
  {
    "title": "TRC COS  UNIT GETS EPA CONTRACT",
    "body": "TRC Cos Inc said its wholly\nowned unit, Alliance Technologies Corp, received a 4.2 mln dlr\ncontract from the U.S. Environmental Protection Agency to\ndevelop an inventory of pollutants contributing to acid\ndeposition nationwide.\n    TRC said the program would be the basis for evaluating the\nrelationship between emission sources and their effects on the\nenvironment.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:53:39.99",
    "places": [
      "usa"
    ],
    "id": "1781"
  },
  {
    "title": "BIOSPHERICS INC  QUOTES TO BE LISTED",
    "body": "Biospherics Inc said its common\nstock quotations will appear in the NASDAQ stock table\npublished in more than 100 newspapers.\n    The company said higher trading volume is expected from the\nnew listing.\n    Previously, Biospherics was listed only in the regional\nsecurities sections in the Washington Post and Baltimore Sun.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:53:56.34",
    "places": [
      "usa"
    ],
    "id": "1782"
  },
  {
    "title": "LEASEWAY TRANSPORTATION CORP  QTLY DIV",
    "body": "Qtly div 37.5 cts vs 37.5 cts prior\n    Pay April eight\n    Record March 16\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:54:00.74",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1783"
  },
  {
    "title": "JOHNSON/JOHNSON  UP ON RECOMMENDATION",
    "body": "Shares of Johnson and Johnson rose\nsharply today following a reiterated recommendation by Kidder\nPeabody analyst Arnie Snider, traders said.\n    Snider said the stock had also been placed on Kidder's\n\"selected stock list.\"\n    The stock gained 3-1/2 points to 91.\n    The reiterated recommendation focused on a strong growth\nrate and the quality of the company's new products.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:54:50.93",
    "places": [
      "usa"
    ],
    "id": "1784"
  },
  {
    "title": "PERU SUGAR HARVEST SEEN LOWER -- USDA",
    "body": "Sugar production in Peru for the\n1986/87 season has been revised to 593,000 tonnes (raw value),\ndown 10 pct from the previous forecast and 21 pct below the\n1985/86 harvest, the U.S. Agriculture Department said in its\nWorld Production and Trade Report.\n    It said while rains in the northern mountain region are\nimproving the supply of irrigation water, the major benefits\nwill not occur until the 1987/88 season.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:55:15.67",
    "topics": [
      "sugar"
    ],
    "places": [
      "usa",
      "peru"
    ],
    "id": "1785"
  },
  {
    "title": "LEGISLATORS COOL TO NEW STOCK TAX IDEA",
    "body": "Key tax and budget lawmakers\nWednesday expressed reservations about the suggested new\nsecurities tax, which has has aroused concern on Wall Street\nand put pressure on brokerage stocks.\n    Grappling with the need to either raise taxes or cut\nfederal spending to meet the fiscal 1988 budget deficit target\nof 108 billion dlrs, House Speaker Jim Wright suggested the tax\nbe studied as one way to raise more federal revenues.\n    The Texas Democrat's idea as first presented to House Ways\nand Means Committee chairman Dan Rostenkowski this week would\ntax sales and purchases of securities. A tax of 0.25 to 0.5\npercent would raise from 8.5 to 17 billion dlrs a year.\n    Rostenkowski, the chief taxwriter, considers it too early\nto back any tax increase idea but agreed to add the securities\ntransfer tax to a long list of tax alternatives under review by\ncongressional tax analysts, a spokesman said.\n    The Illinois Democrat has repeatedly stressed this year he\nis reluctant to back a tax increase so long as President Reagan\nmaintains his staunch opposition.\n    \"First we've got to decide whether to raise additional\nrevenues. Only then can we consider the specific options. At\nthis point nothing is on or off the table. It's just too early,\"\nRostenkowski said in a statement.\n    He made no commitment to Wright in a private meeting\nTuesday, and in fact was not asked for one, a House source\nsaid. The idea was presented only as something that might or\nmight not be valuable, he said.\n    House Budget Committee chairman William Gray agreed it was\nanother option to be looked at, if Congress decided it needed\nto raise revenues to reduce the deficit, an aide said.\n   The Pennsylvania Democrat does not intend to recommend\nspecific tax proposals, the aide said. The Budget Committee\nwill recommend a certain amount of revenue to be raised in\n1988, but will leave to the taxwriting committee the decision\non how the taxes will be raised.\n    The securities transfer tax would raise a hefty amount of\nrevenue to ease Congress's difficult task of trimming the\ndeficit by 61 billion dlrs this year to meet the target.\n    But some in Congress feared that such a tax could drive\nsecurities business offshore and hurt U.S. investment, and\nthere were uncertainties about the details of the tax.\n    Democrats have not united behind any budget alternatives so\nfar this year. This week they are scheduled to discuss the\nbudget and possible spending cuts or tax increases but no\ndecisions are anticipated, congressional sources said.\n    At the same time, without President Reagan's assent to a\ngeneral tax increase, they are left with piecemeal taxes that\nare guaranteed to anger those who must pay.\n    \"We could just do all of them,\" one congressional source said\nof the various tax ideas -- excise taxes, securities taxes, oil\nimport fee and others.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:56:31.45",
    "places": [
      "usa"
    ],
    "id": "1786"
  },
  {
    "title": "ITEL  GETS FINANCING FOR ANIXTER BUY",
    "body": "Itel Corp said it obtained commitments\nfrom a syndicate of banks for a six-year secured loan of about\n325 mln dlrs and had separately filed registration statements\nfor two public offerings for a total of 150 mln dlrs to fund\nits December 1986 acquisition of .\n    It said one of the offerings will be a new 75 mln dlrs\nissue of convertible exchangeable series C preferred and the\nother will be a 75 mln dlr issue of seven-year senior\nsubordinated notes. Both offerings will be through Merrill\nLynch Capital Markets.\n    It said a portion of the proceeds from the offerings,\ntogether with the proceeds form the new bank loan, wll be used\nto repay the 395 mln dlr bridge loan Merrill Lynch and Co Inc\n provided for Itel to buy Anixter.\n    Itel said the banks it obtained commitments from include\nManufacturers Hanover Trust Co , , and the .\n Reuter\n\u0003",
    "date": " 4-MAR-1987 15:57:00.89",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1787"
  },
  {
    "title": "HARTFORD STEAM BOILER  TO BUY STOCK",
    "body": "The Hartford Steam Boiler\nInspection and Insurance Co said it will purchase 600,000 of\nits own common stock from Travelers Insurance Companies .\n    Hartford said it will buy the stock at 60 dlrs per share.\nIt also said the remaining 200,000 shares currently held by the\nTravelers will be retained for investment purposes.\n    The company said the purchase represents approximately six\npct of the 10.6 mln outstanding shares.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:03:52.61",
    "places": [
      "usa"
    ],
    "id": "1788"
  },
  {
    "title": "GREAT AMERICAN  GAINS OVER 80 MLN IN LOANS",
    "body": "Great American First Savings Bank said\nthe bank recorded gains exceeding 80 mln dlrs on sales of loans\nand mortgage securities valued at 1.1 billion dlrs.\n    The San Diego-based bank said in a prepared release of its\nreport to analysts here that the gains included 6.6 mln dlrs in\narbitrage profits from the premium paid for the separation of\ninterest and principal components of new Federal National\nMortgage Association strip securities.\n    The bank said it reported a profit of more than 20 mln dlrs\non the transaction, involving 390 mln dlrs of FNMA securities,\nincluding the arbitrage gain.\n    Great American recently announced plans to acquire , Olympia, Wash., and last year acquired , Tucson, Ariz., and , which resulted in 66 new offices\nand three billion dlrs in assets.\n    The bank also said it plans to expand into other major\nwestern banking markets and is considering an acquisition in\nColorado.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:05:03.72",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1789"
  },
  {
    "title": "TANDY BRANDS  SELLS UNIT",
    "body": "Tandy Brands Inc said it sold\nits Grate Home and Fireplace division to an investor group that\nincludes some members of Grate's management for 1,600,000 dlrs\nin cash and secured notes.\n    The company said the sale will not materially offset the\n9,848,000 dlr non-recurring charge it took against the sale of\nthe division.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:05:23.71",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1790"
  },
  {
    "title": "PROPOSED OFFERINGS RECENTLY FILED WITH THE SEC",
    "body": "The following proposed securities\nofferings were filed recently with the Securities and Exchange\nCommission:\n    Intermark Inc  - Offering of 40 mln dlrs of\nconvertible subordinated debentures due 2007 through Drexel\nBurnham Lambert Inc.\n    Avery International Corp  - Offering of two mln shares\nof common stock through Kidder, Peabody and Co Inc and Goldman,\nSachs and Co.\n    Philadelphia Electric Co  - Shelf offering of up to 1.5\nmln shares of common stock through Drexel Burnham Lambert Inc.\n    Pennzoil Co  - Offering of 100 mln dlrs of debentures\ndue April 1, 2017 through Merrill Lynch Capital Markets and\nLazard Freres and Co.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:06:54.28",
    "places": [
      "usa"
    ],
    "id": "1791"
  },
  {
    "title": "AMERICAN FARM BUREAU OPPOSES FARM BILL CHANGES",
    "body": "The directors of the American Farm\nBureau, the nation's largest farm organization, voted Tuesday\nto urge Congress to leave the 1985 farm bill in place without\nalterations.\n    \"We are solidly opposed to opening up the 1985 farm bill,\"\nsaid Dean Kleckner, president. \"The current farm bill has been\nin place for just a little over a year and in our judgment\nthere is more to be gained at the present time from maintaining\nthe legislation.\n    \"Several independent studies ... indicate the 1985 farm\nbill is better on balance than any of the alternatives being\nadvanced,\" Kleckner said.\n    The Farm Bureau also urged Agriculture Secretary Richard\nLyng to adjust the loan rate for 1987 crop soybeans as much as\nhe deems possible under the farm bill to keep soybeans\ncompetitive in the world market.\n    A Farm Bureau proposal suggests that producers should be\neligible for supplemental payments in the form of PIK\ncertificates for the difference between 5.02 dlrs a bushel and\nthe new loan rate.\n    The organization also urged Lyng to authorize deficiency\npayments to farmers who were unable to plant 1987 winter wheat\nbecause of adverse weather.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:09:45.62",
    "topics": [
      "grain",
      "wheat",
      "oilseed",
      "soybean"
    ],
    "places": [
      "usa"
    ],
    "id": "1792"
  },
  {
    "title": "WHITE HOUSE CHIEF HAS NO SECRET TAX PLAN",
    "body": "White House chief of staff Howard\nBaker said he has no secret plan to raise taxes.\n    Talking to reporters, he pointed out that, \"Ronald Reagan\nis president. I am chief of staff. His program is my program.\"\nI have no tax plan at all.\"\n    Baker's comments came in response to a question as to\nwhether he planned to support higher taxes to reduce the budget\ndeficit. President Reagan has said repeatedly that he opposes\nhigher taxes.\n\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:11:18.04",
    "places": [
      "usa"
    ],
    "id": "1793"
  },
  {
    "title": "BROWING-FERRIS  DECLARES 2-FOR-1 SPLIT",
    "body": "Browning-Ferris Industires Inc said its\nboard declared a two-for-one stock split payable April 24 to\nholders of record March 31.\n     \n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:11:26.92",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1794"
  },
  {
    "title": "EG AND G  UNIT WINS GOVERNMENT CONTRACT",
    "body": "EG and G said its EG and G\nServices unit was awarded a contract to provide facilities\noperations, maintenance and related services for the U.S.\ngovernment's chemical decontamination training facility at Fort\nMcClellan, Ala.\n    Terms were not disclosed.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:11:35.59",
    "places": [
      "usa"
    ],
    "id": "1795"
  },
  {
    "title": "U.S. SEMICONDUCTOR PLAN RAISES ANTITRUST ISSUE",
    "body": "A plan by U.S. semiconductor firms to\ncooperate in a manufacturing facility to compete with firms in\nJapan could conflict with anti-monopoly law, the plan's backers\nsaid.\n    The Semiconductor Industry Association announced at a news\nconference a plan for a consortium to be known as SEMATECH to\nbuild an advanced semiconductor manufacturing plant.\n    Asked whether U.S. antitrust regulators might object,\nCharles Sporck, president of National Semiconductor Corp, said,\n\"That is a possibility.\"\n    Sporck said the Defense Department had a strong interest in\nthe project but he declined to estimate how much would be\nsought from the government or how much funding SEMATECH would\nrequire.\n    Sporck said the group hopes to have an operational plan\nready by June 1.\n    Then it will search for a site for the manufacturing\nfacility and an executive to head up the consortium.\n    The consortium could be operating by the end of the year,\nand the facility working in 18 months, he said.\n    International Business Machines Corp hopes to participate\nin the effort, Paul Low, an IBM executive, said.\n    He said the project suppliers of raw materials and others\nvital to the semiconductor industry, such as toolmakers, would\nbe invited to participate.\n    Sporck said no decision was made on what product would be\nproduced, stressing that the emphasis was on developing\ntechnology and sharing that with firms which belonged to\nSEMATECH. Other aspects were still undecided, such as whether a\nJapanese firm with a facility in the United States would be\nallowed to participate, he said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:12:50.96",
    "places": [
      "usa",
      "japan"
    ],
    "id": "1796"
  },
  {
    "title": "PENNWALT CORP  QTLY DIVIDEND",
    "body": "Qtly div 55 cts vs 55 cts prior\n    Payable May one\n    Record April three\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:14:33.75",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1797"
  },
  {
    "title": "BANNER INDUSTRIES INC  COMPLETES PURCHASE",
    "body": "Banner Industries Inc said it completed\nthe purchase of all Rexnord Inc  common shares for its\n26.25 dlrs per share cash tender offer that ended Feb\n27, 1987.\n    The purchase follows Banner receiving earlier today 310 mln\ndlrs under a credit agreement with Citicorp Industries Credit\nInc and the Bank of Nova Scotia, and an additional 260 mln dlrs\nfrom offerings made for Banner and its subsidiary through\nDrexel Burnham and Lambert.\n    As a result of the tender offer, Banner said it will own\napproximately 96 pct of the outstanding shares of Rexnord. The\ncompany said a merger of Rexnord and a subsidiary of Banner\nwill be completed before mid-May.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:15:46.22",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1798"
  },
  {
    "title": "MURPHY RAISES CRUDE OIL POSTED PRICES ONE DLR/BBL. WTI TO 17.00 DLRS TODAY\n",
    "date": " 4-MAR-1987 16:16:33.14",
    "topics": [
      "crude"
    ],
    "id": "1799"
  },
  {
    "title": "AUSTRALIA SELLS BONDS IN TWO TRANCHES",
    "body": "The Commonwealth of Australia is\noffering in the Yankee bond market 400 mln dlrs of bonds in two\ntranches, said lead manager Morgan Stanley and Co Inc.\n    A 250 mln dlr issue of bonds due 1997 was given a 7-5/8 pct\ncoupon and was priced at 99.25 to yield 7.73 pct, or 60.5 basis\npoints more than comparable Treasury securities.\n    A companion 150 mln dlr offering of 30-year bonds was given\nan 8-3/8 pct coupon and was priced at 99.875 to yield 8.386\npct, or 82.5 basis points over Treasuries.\n    Both tranches are non-callable for life. Moody's rates the\nbonds Aa-1 and S and P rates them AA-plus.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:16:42.99",
    "places": [
      "australia",
      "usa"
    ],
    "id": "1800"
  },
  {
    "title": "PHOENIX STEEL RECEIVES OFFER FOR CLAYMONT MILL",
    "body": " said a group\nof investors offered to buy its Clayton steel plate mill for\neight mln dlrs and the assumption of a bond obligation.\n   Phoenix did not disclose the indentity of the investors.\n    Phoenix was forced to close the Clayton mill last month.\n    The company said the offer represents a major step in\nrestructuring the company.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:17:04.06",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1801"
  },
  {
    "title": "NORTH AMERICAN PHILIPS  SELLS DEBENTURES",
    "body": "North American Philips Corp is raising\n100 mln dlrs via an offering of debentures due 2017 yielding\n8.809 pct, said sole manager Morgan Stanley and Co Inc.\n    The debentures have an 8-3/4 pct coupon and were priced at\n99.375 to yield 125 basis points over the off-the-run 9-1/4 pct\nTreasury bonds of 2016.\n    The issue is non-refundable for 10 years. A sinking fund\nthat starts in 1998 to retire five pct of the debentures\nannually can be increased by 200 pct at the company's option.\nMoody's rates the debentures A-2 and Standard and Poor's rates\nthem A-minus.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:21:29.14",
    "places": [
      "usa"
    ],
    "id": "1802"
  },
  {
    "title": "KEANE INC  4TH QTR",
    "body": "Shr 17 cts vs 15 cts\n    Net 229,000 vs 201,000\n    revs 10.5 mln vs 9.9 mln\n    Year\n    Shr 21 cts vs 55 cts\n    Net 283,000 vs 766,000\n    Revs 40.4 mn vs 39.7 mln\n    NOTE:1985 shares adjusted to reflect the distribution of\none share of Class B common stock for every two shares of\ncommon stock held of record as of July 1, 1986.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:21:43.79",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1803"
  },
  {
    "title": "SAVIN  NOTE CONVERSION ENDS",
    "body": "Savin Corp said the first period\nfor the exercise of the special conversion right for its zero\ncoupon convertible senior notes due February one, 1996, has\nexpired.\n    Savin said about 1,767,000 shares of its common stock will\nbe issued as a result of the conversion.\n    The share certificates issued through the conversion will\nbe distributed to noteholders beginning March six, Savin added.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:22:03.73",
    "places": [
      "usa"
    ],
    "id": "1804"
  },
  {
    "title": "MERIDIAN DIAGNOSTICS  GETS FDA APPROVAL",
    "body": "Meridian Diagnostics Inc said it\nreceived approval from the Food and Drug Administration to\nmarket a test to detect a disease which drains fluids from the\nbodies of AIDS victims.\n    The company said the test detects Cryptosporidium SP in\nstool specimens. The disease can result in life threatening\nloss of fluids, the company added.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:24:58.83",
    "places": [
      "usa"
    ],
    "id": "1805"
  },
  {
    "title": "SENATE COMMITTEE POSTPONES BANK BILL VOTE",
    "body": "The Senate Banking Committee has\npostponed until March 10 its meeting scheduled for tomorrow to\nact on a bank regulation bill.\n    A committee aide said the postponement was requested by\nRepublican members who wanted more time to look over a revised \ndraft version of the bill which was just introduced.\n    That version of the bill would allow non-bank banks to\ncontinue activities in operation as of March 5, but would\nprohibit them from starting other financial services.\n    The previous draft bill would have banned non-bank bank\nactivities started after July 1, 1983.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:25:53.73",
    "places": [
      "usa"
    ],
    "id": "1806"
  },
  {
    "title": "REAGAN TO VISIT ROME, BERLIN DURING SUMMIT TRIP",
    "body": "President Reagan will visit Rome and\nWest Berlin during a trip to Europe in June to attend the\nVenice summit meeting of the major industrialized countries,\nthe White House said.\n    The announcement said Reagan and Nancy Reagan would be in\nRome from June 3 to 6 as the guests of President Francesco\nCossiga and would have an audience with Pope John Paul II on\nJune 6. After the June 8-10 summit, Reagan will travel to West\nBerlin on June 12 to participate in the city's 750th\nanniversary and will meet West German Chancellor Helmut Kohl in\nBonn before returning home the same day.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:26:54.72",
    "places": [
      "usa",
      "italy",
      "west-germany"
    ],
    "id": "1807"
  },
  {
    "title": "VIACOM  MERGER EXPECTED IN 60 TO 90 DAYS",
    "body": "Sumner Redstone, president of National\nAmusements, Inc, predicted he can win regulatory approvals to\nwrap up the 3.4 billion dlr acquisition of Viacom International\nInc in 60 to 90 days.\n    Redstone, 63, catapulted himself into the big leagues of\nentertainment early today when a group of Viacom managers and\ntheir financial backers decided not to top National's bid.\n    \"We've had counsel working for some time in every region\nwhere Viacom has cable televison systems\" Redstone told Reuters\nin a telephone interview.\n    Redstone also said \"Viacom is committed to working very\nclosely with us to obtain approvals.\" Viacom has been seeking\napprovals for transfer of its broadcast licenses and cable\nsystems since September when its management group first\nadvanced a buyout plan.\n    But Redstone turned the situation into a spirited bidding\ncontest which was capped by the announcement this morning that\nViacom's independent directors on behalf of Viacom entered into\na defintive merger agreement with National.\n    National is a family business which operates a chain of\nmovie theaters. It is dwarfed by Viacom.\n    Redstone said he was weary after talks dragged on through\nthe night but also excited at the prospect of running a leading\nelectronic media company. He noted that the number of motion\npicture admissions in the U.S. has shown no growth in 15 years.\n    Of nine satellite television channels operated by Viacom,\nfour are motion-picture oriented pay channels. Redstone said\nexclusive contracts with pay television networks are the\nemerging trend. \"Up until recently you could see any motion\npicture on any pay channel,\" Redstone said.\n    He noted Viacom has exclusive agreements with two studios\nand plans to sign a deal with a third company next month.\n    Redstone said the management group's investment bankers\nwill be paid what is due for termination of its merger\nagreement. Such fees could total about 30 mln dlrs. \"That will\nbe a company expense,\" Redstone said.\n    He said BankAmerica  Corp has had numerous inquiries\nfrom lenders who want to participate in a 2.25 billion dlr\nfinancing for the deal. BankAmerica will provide 592 mln dlrs.\n    After the merger, Viacom will be a subsidiary of National\nbut 17 pct of the company will be in public hands.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:27:27.59",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1808"
  },
  {
    "title": "BRITISH AIDE CRITICIZES U.S.PROTECTIONISM",
    "body": "A senior British official said that\nprotectionist bills being considered by Congress could trigger\nretaliation by the European Community (EEC) and threaten the\nglobal trading system.\n    Paul Channon, secretary for trade and industry, said if\nCongress passed legislation to curb textile imports, which\nwould hit EC shipments as well as shipments from major Asian\ntextile producers, \"the community would have to retaliate.\"\n    His comments echoed those made yesterday by Belgian Trade\nMinister Herman De Croo, who said if the bill passed, the\ncommunity would retaliate by imposing taxes on U.S. exports.\n    Channon made his remarks at a news conference after two\ndays of talks with Reagan Administration officials and members\nof Congress.\n    De Croo was also in Washington for trade talks.\n    Channon said there was a greater protectionism sentiment in\nCongress since his visit here last year as Congress and the\nAdministration tried to find ways to reduce the U.S. trade\ndeficit, which last year hit a record 169.8 billion dlrs.\n    Channon also called for greater EC-U.S. cooperation to\nforce Japan to open its markets to foreign goods.\n    Channon said Japan's trade surplus is causing everyone\nproblems - its surplus with the United States last year was\n51.5 billion dlrs and with EC nations, 16.7 billion dlrs.\n    \"The more united pressure there could be, the better,\" he\nsaid.\n    Channon also called for increased U.S.-EC cooperation to\navoid trade disputes.\n    He said the two sides narrowly avoided a confrontation\nearlier this year over lost grains sales when Spain and\nPortugal joined the community and its liberal imports\nregulations were tightened to conform to EC standards.\n    \"But if both sides drew back from the brink that time,\" he\nsaid, \"\"it does not mean that they would do so on another\noccasion.\"\n    Channon added that \"There is increasing reesentment in\nEurope over the U.S. tactic of negotiating under the pressure\nof unilaterally imposed deadlines.\"\n    He said other potential conflicts are already in sight -\nalleged European government subsidies of Airbus aircraft and\ntaxes on fats and oils - and \"the commuity and the United States\nmust therefore learn to manage their relations better.\"\n    He said another bill to let the United States retaliate\nagainst a nation if that nation's market was not open to U.S.\ngoods would bypass the trade pact GATT (General Agreeeement on\nTariffs and Trade) as an arbiter of trade practices.\n    He said foreign trade law should be judged by GATT and not\nby the United States, adding \"if the (trade) law is to be\ninterpreted by the United States and not by the GATT, what is\nto happen to the rest of us?\"\n   \n reuter\n\u0003",
    "date": " 4-MAR-1987 16:28:55.85",
    "topics": [
      "trade"
    ],
    "organisations": [
      "ec",
      "gatt"
    ],
    "places": [
      "usa",
      "uk"
    ],
    "id": "1809"
  },
  {
    "title": "OMNIBUS COMPUTER LOAN NOT CALLED",
    "body": ", which\nearlier said it is in default of certain provisions of its line\nof credit, said its Canadian banker has indicated a willingness\nto work with the company and has not called Omnibus' loan.\n    Omnibus earlier said negotiations are underway to provide\nadditional financing.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:29:49.36",
    "places": [
      "canada"
    ],
    "id": "1810"
  },
  {
    "title": "YEUTTER SEEKS STRONGER TAIWAN, S.KOREA CURRENCIES",
    "body": "U.S. Trade Representative Clayton\nYeutter said he hoped the U.S. dollar would continue to decline\nin relation to the currencies of Taiwan and South Korea as a\nway to improve the U.S. trade picture.\n    Testifying before the House Appropriations subcommittee\nwhich must approve his agency's 1988 budget, he said, \"In my\njudgment economic factors justify a continued decline.\"\n    Asked by a committee member if he expected a further\ndecline, and how much, Yeutter said the Taiwan and South Korean\ncurrencies should be adjusted to reflect \"positive factors\" in\ntheir economies.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:30:36.83",
    "topics": [
      "money-fx",
      "trade"
    ],
    "places": [
      "taiwan",
      "south-korea",
      "usa"
    ],
    "id": "1811"
  },
  {
    "title": "YUGO FEBRUARY CAR SALES BREAK RECORD",
    "body": ", a\nunit of , said it sold 5,059 cars in February, the\nfirst month in which sales topped 5,000.\n    Yugo said the February's sales were 21.2 pct higher than\nsales in January and 191.4 pct above the 1,736 cars sold in the\nsame month last year.\n    Yugo said it has sold a total of 9,233 cars so far in 1987.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:30:42.64",
    "places": [
      "usa"
    ],
    "id": "1812"
  },
  {
    "title": "SENATE PANEL APPROVES EXTENDING DAIRY COMMISSION",
    "body": "The Senate Agriculture Committee\napproved a bill that would extend for one year the life of the\nNational Commission on Dairy Policy.\n    The dairy commission, mandated by the 1985 farm bill, is\nset to expire at the end of the month. The bill would extend\nthe date by which the commission must submit its report on\ndairy policy to March 31, 1988.\n    Congress charged the commission with examining the federal\nprice support program for milk and alternatives to the program.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:39:22.74",
    "places": [
      "usa"
    ],
    "id": "1813"
  },
  {
    "title": "NL INDUSTRIES INC  SET REGULAR PAYOUT",
    "body": "Qtly div five cts vs five cts prior\n    Pay March 31\n    Record March 16\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:40:06.94",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1814"
  },
  {
    "title": "CHINA SUGAR OUTPUT SEEN LOWER -- USDA",
    "body": "China's 1986/87 sugar crop has been\nrevised to 5.26 mln tonnes (raw value), down four pct from the\nprevious forecast and five pct below the previous season, the\nU.S. Agriculture Department said.\n    In its World Production and Trade Report, the department\nattributed the decline to relatively poor profitability of\nsugar, causing harvested area of cane and beets to decline\nseven pct from 1985/86.\n    Beet sugar production for 1986/87 is now estimated at\n837,000 tonnes, five pct less than earlier forecast and down\nfive pct from the previous season, while cane output is\nprojected at 4.423 mln tonnes, down four pct from previously\nforecast and five pct below the previous season, it said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:41:57.90",
    "topics": [
      "sugar"
    ],
    "places": [
      "usa",
      "china"
    ],
    "id": "1815"
  },
  {
    "title": "GENERAL HOST  SEES YEAR LOSS",
    "body": "General Host Corp said it will\nreport a loss from continuing operations and a sharp decline in\nnet income for the year ended January 25, 1987, due to\nsubstantial operating losses in its Frank's Nursery and Crafts\nunit. For the year ended January 25, 1986, General reported net\nincome of 29.7 mln dlrs.\n    The company said it discovered problems in its unit's\ncomputerized accounts payable system. It said results of its\nother nursery and craft unit, Flower Time Inc, are not\naffected. It said its accountants are investigating the\nproblem, which will delay release of its full-year results.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:42:38.52",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1816"
  },
  {
    "title": "UAW, AMC  SET NEW LABOR TALKS",
    "body": "The United Auto Workers and American\nMotors Corp agreed to resume talks on a new labor contract for\nthe company's threatened Kenosha, Wisc. assembly plant despite\na breakdown in talks last weekend, UAW vice-president Marc\nStepp said.\n    Stepp told reporters that issues which caused the talks to\nbreak off are being discussed between the two sides and that a\nmain table bargaining session has been scheduled Friday in\nMilwaukee.\n    France's Regie Nationale des Usines Renault has a\ncontrolling stake in American Motors.\n    Stepp said the union intends \"to exert full efforts\" to\nreach an agreement that would keep the plant in operation past\n1989, when AMC has said production will end unless the UAW\ngrants concessions on labor costs.\n    The UAW leader said the company and the union agreed in\nprinciple in 1985 to pattern a future contract covering some\n6,000 Kenosha workers after lower-cost UAW contracts covering\nMazda Motor Corp's new U.S. plant in Michigan and the New\nUnited Motor plant in California operated by Toyota.\n    Stepp said there is such deep hostility between the company\nand union locals in Milwaukee and Kenosha that communication\nbetween them is very difficult.\n    But he said it is possible to reach agreement on a new\ncontract to save the jobs of UAW members at AMC's Wisconsin\noperations despite the impasse.\n    AMC has said it will resume talks, but only for 24 hours to\nascertain whether the union was willing to agree to the\nconcessions it wants.\n    The Kenosha plant builds AMC's Renault cars and a line of\nChrysler Corp  vehicles under a contract assembly deal.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:44:23.41",
    "places": [
      "usa",
      "france"
    ],
    "id": "1817"
  },
  {
    "title": "VICTORY MARKETS INC FILES TO OFFER DEBENTURES",
    "body": " said it\nfiled a registration statement with the Securities and Exchange\nCommission relating to the proposed public offering of 60 mln\ndlrs principal amounbt of subordinated debentures due 1999.\n    Proceeds will be used to repay outstanding indebtedness of\nthe company and to repay a portion of outstanding loans.\n    Victory Markets Inc owns and operates a chain of 88 retail\nsupermarkets and conducts a wholesale grocery business in\ncentral and northern New York State.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:44:52.42",
    "places": [
      "usa"
    ],
    "id": "1818"
  },
  {
    "title": "SYNTEX  SETS RAPID STREP THROAT TEST",
    "body": "Syntex Corp said its\ndiagnostics subsidiary has introduced a rapid, antibody-based\ntest to diagnose strep throat infections, called AccuPoint (T)\nGroup H Strep Test.\n    A Syntex spokesman said the test has received Food and Drug\nAdministration approval and is now available nationwide for use\nin hospitals, doctors offices and laboratories.\n    The company said it is the first of ten diagnostic tests\nbeing developed for Syntex by Murex Corp. Others include\ndetection of pregnancy, ovulation and sexually transmitted\ndiseases.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:46:23.96",
    "places": [
      "usa"
    ],
    "id": "1819"
  },
  {
    "title": "MEDTRONIC INC  SETS PAYOUT",
    "body": "Qtly dividend 22 cts vs 22 cts\n    Pay April 30\n    Record April 10\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:46:42.57",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1820"
  },
  {
    "title": "CAROLINA POWER  TO REDEEM PREFERRED STOCK",
    "body": "Carolina Power and Light Co said\nit will redeem on April 22 all two mln shares of its 2.675 dlr\npreferred stock, series A.\n    The company said it will pay 25.75 dlrs a share plus\naccrued dividends of 15.6 cts.\n    The redemption, Carolina Power said, will substantially\nreduce its operating costs.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:48:37.42",
    "places": [
      "usa"
    ],
    "id": "1821"
  },
  {
    "title": "CENTRAL BANCSHARES  UNIT UNVEILS SYSTEM",
    "body": "Central Bancshares of the South's\nCentral Bank of the South said it unveiled a realtime trading\nfloor providing the staff with instant access to U.S. financial\nmarkets.\n    The company said the system, the first in Alabama, is in\nits investment banking division. The company said the staff\nreceives immediate notification of prices changes, market data\nand a summary of securities or bonds in inventory.\n    The trading floor consists of workstations intergrating\npersonal computer and mainframe capabilities, telephone and\nintercom systems, and multiple information services.\n    The trading room format was created by Rich Inc, a\nsubsidiary of Reuters Inc .\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:49:19.90",
    "places": [
      "usa"
    ],
    "id": "1822"
  },
  {
    "title": "QUANTUM  RECEIVES PATENT NOTIFICATION",
    "body": "Quantum Diagnostics Ltd said it\nreceived notification from the U.S. patent office that a patent\nwould be issued on its analog image processor as of March\nthree.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:49:24.11",
    "places": [
      "usa"
    ],
    "id": "1823"
  },
  {
    "title": "LOUISVILLE GAS AND ELECTRIC CO  DIVIDEND",
    "body": "Qtly dividend 65 cts vs 65 cts\n    Pay April 15\n    Record March 31\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:50:10.88",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1824"
  },
  {
    "title": "DOME DEBT PLAN LIKELY CIRCULATED NEXT WEEK",
    "body": "Dome Petroleum Ltd's plan to reschedule\ndebt of more than 6.1 billion Canadian dlrs will likely be\ndetailed to a group of 56 major creditors on Monday or Tuesday\nnext week, a company spokesman said.\n    Circulation of the complex plan to reschedule the company's\ndebt was delayed to incorporate late changes resulting from\ndiscussions with Dome's lenders, spokesman David Annesley told\nReuters in response to an inquiry.\n    Annesley said Dome expects its debt will total between 6.3\nbillion and 6.5 billion dlrs by June 30, 1987, when it hopes to\nimplement the debt plan now under negotiation.\n    Annesley said Dome Petroleum would issue a statement\noutlining the company's debt rescheduling proposal following\nrelease of the plan to lenders.\n    Dome Petroleum previously said it hoped to submit the debt\nplan by mid-February in order to win agreement in principle\nfrom creditors prior to June 30.\n    The group of major lenders have agreed to defer a\nsubstantial amount of debt payments until June 30 under an\ninterim agreement that links payments to secured lenders with\ncash flow generated by assets backing the loans.\n    Annesley also said there was no change in the status of\nlegal actions initiated by six Swiss noteholders who are\nseeking interest and principal payment on their unsecured debt.\n    Together, the noteholders are owed about 520,000 Swiss\nfrancs, and their legal action places a total of 300 mln Swiss\nfranc denominated debt in default.\n    Annesley said the company's next scheduled appearance in a\nSwiss court to defend against the actions is set for March 16.\n    Dome Petroleum's 1986 fourth quarter and year earnings will\nlikely be reported at the end of March, he also said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:55:22.73",
    "places": [
      "canada"
    ],
    "id": "1825"
  },
  {
    "title": "GEORGIA GULF  FILES FOR SHARE OFFER",
    "body": "Georgia Gulf Corp said it filed with the\nSecurities and Exchange Commission for a secondary offering of\n4.8 mln shares of common stock, which will be sold by General\nElectric Co's  General Electric Credit Corp unit and\nGeorgia-Pacific Corp .\n    The company said four mln of the shares will be sold in the\nUnited States and 800,000 shares will be offered abroad.\n    Goldman, Sachs and Co is the sole manager of the\nunderwriting syndicate for the offering, it added.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:58:11.01",
    "places": [
      "usa"
    ],
    "id": "1826"
  },
  {
    "title": " BUILDS PLANT IN U.S",
    "body": "State Commerce Secretary Claude\nPope said Japan's Okuma Machinery Works LTD will build a\nmulti-million dollar manufacturing machinery plant here.\n    He said the plant will be the company's first in the U.S.\nand will employ approximately 150 people.\n    He said start-up date is set for late this year.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 16:58:20.79",
    "places": [
      "usa",
      "japan"
    ],
    "id": "1827"
  },
  {
    "title": "PAN AM WORLD AIRWAYS TO CUT MANAGEMENT COSTS BY ABOUT 180 MLN DLRS ANNUALLY\n",
    "date": " 4-MAR-1987 17:00:07.80",
    "id": "1828"
  },
  {
    "title": "POLLARD SENTENCED TO LIFE IN PRISON IN SPY CASE",
    "body": "Confessed spy Jonathan Pollard was\nsentenced today to life in prison for passing thousands of\npages of top-secret U.S. military documents to Israel.\n    Pollard, a former Navy intelligence analyst, was sentenced\nfor his role in what prosecutors described as one of the most\nserious breaches of security in U.S. history.\n    Pollard, a 32-year-old American Jew, claimed he was acting\nout of concern for Israel's safety and the belief that U.S.\nofficials were withholding intelligence from Israel.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:00:16.15",
    "places": [
      "usa",
      "israel"
    ],
    "id": "1829"
  },
  {
    "title": "DINGELL URGES SEC TO SEEK MORE DISCLOSURE",
    "body": "House Energy and Commerce committee\nchairman John Dingell, D-Mich, said the Securities and Exchange\nCommission should step up its enforcement of regulations which\nrequire companies to disclose corporate fraud and waste.\n    Dingell made the comment at the start of a hearing on\nalleged overcharges by TRW Inc on its defense contracts.\n    He said the SEC seemed to have stopped demanding such\ndisclosures, which are required by securities laws.\n    \"In the wake of the foreign bribery cases in the 1970s, the\nSEC instituted a vigorous program of self-policing, using\nexternal auditors, investigators, and counsel. It should do so\nagain,\" Dingell said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:02:02.31",
    "places": [
      "usa"
    ],
    "id": "1830"
  },
  {
    "title": "CENTRAL BANCSHARES  UNIT UNVEILS SYSTEM",
    "body": "Central Bancshares of the South's\nCentral Bank of the South said it unveiled a realtime trading\nfloor providing the staff with instant access to U.S. financial\nmarkets.\n    The company said the system, the first in Alabama, is in\nits investment banking division. The company said the staff\nreceives immediate notification of prices changes, market data\nand a summary of securities or bonds in inventory.\n    The trading floor consists of workstations intergrating\npersonal computer and mainframe capabilities, telephone and\nintercom systems, and multiple information services.\n    The trading room format was created by Rich Inc, a\nsubsidiary of Reuters Holdings Plc .\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:02:10.24",
    "places": [
      "usa"
    ],
    "id": "1831"
  },
  {
    "title": "KAISER ALUMINUM  RAISES PRODUCT PRICES",
    "body": "Kaiser Aluminum and Chemical\nCorp said it is increasing prices for a broad range of common\nalloy coil, flat sheet and plate products.\n    The company said prices to distributors and direct\ncustomers on shipments of new orders placed March 4 and after\nwill be increased by four to eight cts per lb.\n    Kaiser said the increases are due to increased demand and\nthe need to set prices relative to the cost of primary\naluminum.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:03:33.40",
    "topics": [
      "alum"
    ],
    "places": [
      "usa"
    ],
    "id": "1832"
  },
  {
    "title": "HUNTERDON  SETS DENTAL VENTURE",
    "body": "Hunterdon Pharmaceuticals Inc\nsaid it formed a joint venture with  and  to\ndevelop C31G, a substance that may be useful in the treatment\nor prevention of plaque.\n    The substance, tested in pre-clinical trials at the\nUniversity of Pennsylvania, also has other uses as an\nanti-fungal or anti-bacterial agent, the company said.\n    It said Chesapeake Biological, a private company, owns 55\npct of the venture, E.B. Michaels 10 pct, while it holds the\nremaining interest, and the patent for C31G.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:07:06.01",
    "places": [
      "usa"
    ],
    "id": "1833"
  },
  {
    "title": "U.S./USSR TRADE IMBALANCE CITED AS PROBLEM",
    "body": "U.S. purchases of Soviet products must\nincrease before the Soviet Union will buy more U.S. goods, a\nSoviet trade official told Reuters.\n    \"American exports (to the Soviet Union) depend on Soviet\nexports to the United States,\" said Albert Melknikov, deputy\ntrade representative of the Soviet Union to the United States.\n    \"One should not forget that it is impossible only to buy\nfrom the United States. We must be able to sell our products to\nthe United States as well,\" he said in an interview.\n    The Soviet trade deficit with the United States totalled\naround two billion dlrs in 1985, Melnikov said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:07:15.63",
    "places": [
      "usa",
      "ussr"
    ],
    "id": "1834"
  },
  {
    "title": "ROBERTSON UPS CAPITAL WIRE STAKE TO 12 PCT",
    "body": "New York investor Julian Robertson\nand several investment partnerships he controls said they\nraised their stake in Capital Wire and Cable Corp to 481,800\nshares, or 12.2 pct of the total, from 430,200, or 10.9 pct.\n    In a filing with the Securities and Exchange Commission\nRobertson and his Tiger, Jaguar, Puma and Tiger Management Co\nentities said they bought 51,600 Capital Wire common shares\nbetween Feb 3 and 17 at 13.25 dlrs a share.\n    Robertson said his group has spent a total of 5.9 mln dlrs\non its investment in the company so far.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:07:59.73",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1835"
  },
  {
    "title": "TWA  TANGLES PIEDMONT  SITUATION",
    "body": "Trans World Airlines Inc complicated\nthe bidding for Piedmont Aviation Inc by offering either to buy\nPiedmont suitor USAir Group or, alternatively, to merge with\nPiedmont and USAir.\n    Piedmont's board was meeting today, and Wall Street\nspeculated the board was discussing opposing bids from Norfolk\nSouthern Corp and USAir. The TWA offer was announced shortly\nafter the Piedmont board meeting was scheduled to begin.\n    TWA offered to buy USAir for 52 dlrs cash per share. It\nalso said it was the largest shareholder of USAir and\nthreatened to go directly to USAir shareholders with an offer\nfor 51 pct of the stock at a lower price.\n    TWA also said it believed its offer was a better deal for\nUSAir shareholders than an acquisition of Piedmont, but it said\nit alternatively would discuss a three-way combination of the\nairlines.\n    Market sources and analysts speculated that TWA chairman\nCarl Icahn made the offer in order to put his own airline into\nthe takeover arena.\n    \"We're just wondering if he's not just trying to get TWA\ninto play. There's speculation on the street he just wants to\nmove onto somthing else,\" said one arbitrager. \"We think TWA\nmight just be putting up a trial balloon.\"\n    Analysts said the offer must be taken seriously by USAir,\nbut that the airline will probably reject it because the price\nis relatively low compared to other airline deals.\n    They also said Icahn must prove his offer credible by\nrevealing financing arrangements. \"They need to show their\ncommitment and their ability to finance. I think it's a\ncredible offer,\" said Timothy Pettee, a Bear Stearns analyst.\n    \"I think it's certainly on the low end of relative values\nof airline deals,\" said Pettee. Pettee estimated 58 dlrs would\nbe in a more reasonable range based on other airline mergers.\n    USAir stock soared after TWA made public its offer. A\nspokesman for USAir declined comment, and said USAir had not\nchanged its offer for Piedmont. USAir offered of buy 50 pct of\nthat airline's stock for 71 dlrs cash per share and the balance\nfor 73 dlrs per share in USAir stock.\n    USAir closed up 5-3/8 at 49-1/8 on volume of 1.9 mln\nshares.\n    Piedmont, which slipped 1/2 to close at 69-5/8, also\nremained silent on the TWA action. Piedmont has an outstanding\n65 dlr cash per share offer from Norfolk Southern Corp.\n    Norfolk Southern declined comment, but said it stuck with\nits offer for Piedmont. Norfolk owns about 20 pct of Piedmont\nand opened the bidding when it said it would propose a takeover\nof Piedmont.\n    Some analysts said Icahn may be trying to acquire USAir to\nmake his own airline a more attractive takeover target.\n    \"Icahn I think had wanted to sell his airline and there\nwere no takers. I think the strategy might have called for\nmaking his investment more attractive. One way to accomplish\nthat specific objective is to go out and acquire other\nairlines,\" said Andrew Kim of Eberstadt Fleming.\n    \"I don't know whose going to buy them, but at least this\nway it becomes a much more viable package,\" said Kim.\n    But Icahn's financing ability for such a transaction\nremains in doubt, in part because of TWA's heavy debt load.\n    Wall street sources said TWA has some cash with which to do\nthe offer.\n    The sources said Icahn has not lined up outside financial\nadvisers and plans to make his own arrangements.\n   Icahn earlier this year abandoned plans to buy USX Corp \nand still retains 11 pct of that company's stock.\n    Some Wall street sources said the financier's USX plan was\nimpacted by the cloud hanging over his adviser, Drexel Burnham\nLambert Inc, because of Wall Street's insider trading scandal.\n    Industry sources also predicted USAir might reject the TWA\noffer on price and financing concerns. \"It's littered with\ncontingencies and it doesn't even have a financing\narrangement,\" said one executive at another major airline.\n    But the executive conceded a merged TWA-USAir would be a\nstrong contender with USAir's east coast route system and\nplanned west coast presence from PSA. USAir could feed the\nintenrational flights of TWA, which has a midwest presence in\nits St. Louis hub. Adding Piedmont, dominant in the southeast,\nto the mix would develop an even stronger force.\n    The combined entity would also have TWA's pars reservation\nsystem.\n    Such a merger would be complex and analysts said it would\nresult in an airline iwth an 18 pct market share.\n   \n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:08:17.36",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1836"
  },
  {
    "title": "FOREST OIL CORP  4TH QTR",
    "body": "Shr loss 29 cts vs profit eight cts\n    Net loss 2.0 mln vs profit 568,000\n    year\n    Shr loss 1.37 dlrs vs profit 88 cts\n    Net loss 9.3 mln vs profit 6.0 mln\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:14:31.78",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1837"
  },
  {
    "title": "USDA TRANSMITS FARM PROPOSALS TO CONGRESS",
    "body": "The Reagan administration officially\nsubmitted to Congress its proposals to cut back U.S. farmers'\nincome deficiency payments, decouple planting decisions from\nincome support levels and accelerate reductions in loan rates,\nSenate staff said.\n    The recommendations, first outlined last January in\nPresident Reagan's fiscal 1988 budget blueprint, were\ntransmitted to both houses of Congress as legislative\nproposals.\n    It was not clear which lawmakers might introduce the\nmeasures.\n    The most controversial proposal in the package would make\n10 pct annual reductions in target prices for major\ncommodities. A number of legislators have predicted the target\nprice proposal will not move in Congress.\n    The package also would offer the so-called 0/92 option to\nproducers of 1987-90 crops and raise the annual permissible\nreduction in loan rates to 10 pct from 5 pct.\n    Under 0/92, a producer is guaranteed at least 92 pct of his\ndeficiency payment regardless of how much he plants.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:15:26.38",
    "places": [
      "usa"
    ],
    "id": "1838"
  },
  {
    "title": "YEUTTER PLANS TRADE TRIP TO CHINA THIS SUMMER",
    "body": "U.S. Trade Representative Clayton\nYeutter said he plans a July trip to China to discuss trade\nissues including China's admission to the General Agreements on\nTariffs and Trade.\n    Yeutter told a congressional hearing it was possible China\ncould be a member of GATT before the end of the year.\n    \"They are making major moves to becoming a full scale member\nof the world economy,\" he told the House Appropriations\nsubcommittee which oversees his agency's budget.\n    Depending on how the negotiations go on the terms of\nChina's GATT membership, Yeutter said he could put the final\ntouches on the U.S. part of the agreement during his trip.    \nThe admission of China to GATT, which is the multinational\ngroup of nations which negotiates international rules on trade,\nwould offer both potential export markets and potential\ncompetition for U.S. industries, he said.\n    \"That has a lot of potential as well as risks for U.S.\nbusiness,\" Yeutter said.\n    \"I think China will develop into a fine market for us,\" he\nadded.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:15:33.29",
    "topics": [
      "trade"
    ],
    "organisations": [
      "gatt"
    ],
    "places": [
      "usa",
      "china"
    ],
    "id": "1839"
  },
  {
    "title": "PAN AM  TO CUT AIRLINE MANAGEMENT COSTS",
    "body": "Pan Am Corp said its Pan American World\nAirways unit will reduce management costs by 20 pct, or about\n80 mln dlrs, through job cuts, salary freezes and other\nmeasures.\n    Pan Am also said it has asked its labor unions to help\nlower costs by an additional 180 mln dlrs.\n    The airline said it will eliminate 464 managment positions\nand freeze all management salaries, a move that will save 30\nmln dlrs a year.\n    An additional 50 mln dlrs of expenses under management's\ncontrol will also be cut, it said without offering details.\n    Pan Am said it is seeking a 20 pct pay cut from its unions.\n    Pan Am vice chairman Martin R. Shugrue said in a statement,\n\"Management is leading the way, but with 40 pct of our\noperating expenses represented by labor costs, we must have the\ncooperation of our labor unions if we are to make additional\nimprovements to our 1987 operating plan.\"\n    Shugrue asked Pan Am's unions to begin negotiations on the\npay cuts immediately.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:17:25.32",
    "places": [
      "usa"
    ],
    "id": "1840"
  },
  {
    "title": "ALLIS-CHALMERS PROPOSES RESTRUCTURING, TO CONVERT SOME DEBT TO COMMON\n",
    "date": " 4-MAR-1987 17:19:22.40",
    "id": "1841"
  },
  {
    "title": "RIO COFFEE TRADE PREFERS NO PACT TO QUOTA CUT",
    "body": "The failure of talks to introduce\nnew coffee export quotas within the International Coffee\nAgreement, ICA, was preferable to the alternative of Brazil\nhaving a sharply reduced quota, as had been proposed, President\nof the Rio de Janeiro Coffee Trade Association Carlos Calmon\nsaid.\n    He told Reuters proposals to reduce Brazil's quota to 25\npct of the world share from 30 pct at present were unacceptable\nas the country has large stocks and a good harvest is expected.\n    \"Brazil has the capacity to export 20 mln bags this year,\"\nCalmon added.\n    Calmon said, assuming a 58 mln bag global ICA quota,\nBrazil's share under the proposals would have been 14.5 mln\nbags, of which soluble would have accounted for 2.0 mln,\nleaving just 12.5 mln bags of green coffee for export.\n    \"It's a pity the talks broke down, but for Brazil this was\nbetter than such a quota reduction,\" he added.\n    In 1985 Brazil exported 19.6 mln bags of soluble and green\ncoffee, including about two mln bags to non-members. A severe\ndrought and marketing problems cut exports last year to under\n10 mln bags.\n    Calmon estimated stocks as of January 1 at 18 mln bags, of\nwhich 5.0 mln have already been sold for export. The harvest\nthis year should be around 30 mln bags, he added.\n    The latest Brazilian Coffee Institute estimate for last\nyear's harvest is 11.2 mln bags, although many traders believe\nit was higher than this.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:19:33.15",
    "topics": [
      "coffee"
    ],
    "places": [
      "brazil"
    ],
    "id": "1842"
  },
  {
    "title": "ISRAEL TENDERS TONIGHT FOR CORN AND/OR SORGHUM",
    "body": "Israel will tender overnight for\n33,000 long tons of U.S. sorghum and/or 22,000 long tons of\nU.S. corn for April shipment, private export sources said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:21:12.57",
    "topics": [
      "grain",
      "corn",
      "sorghum"
    ],
    "places": [
      "usa",
      "israel"
    ],
    "id": "1843"
  },
  {
    "title": "HALLMARK STORES SELLS SECURED BONDS",
    "body": "Hallmark Stores Inc is raising 137.13\nmln dlrs through a three-tranche offering of secured bonds,\nsaid lead underwriter Salomon Brothers Inc.\n    A 31.63 mln dlr issue of bonds due 2001 was given an 8-1/4\npct coupon and priced at par to yield 112 basis points over\ncomparable Treasury securities and a 40 mln dlr offering of\nbonds due 2006 was given an 8-3/4 pct coupon and par pricing to\nyield 115 basis points over Treasuries.\n    The final tranche totals 65.49 mln dlrs of bonds due 2011.\nThe securities were assigned an 8-7/8 pct coupon and par\npricing to yield 131 basis points over Treasuries.\n    The entire Hallmark offering is non-refundable for 10\nyears. The three tranches have average lives of 12.1, 17.8 and\n22.7 years respectively, Salomon Brothers said.\n    Moody's Investors Service Inc rates the securities Aa-3 and\nStandard and Poor's Corp rates them AA.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:22:27.96",
    "places": [
      "usa"
    ],
    "id": "1844"
  },
  {
    "title": "U.S. CABINET COUNCIL SET TO MULL FARM ISSUES",
    "body": "The Reagan administration's\ncabinet-level Economic Policy Council is scheduled to meet\nFriday to discuss, among other issues, the status of\nagricultural legislation, administration officials said.\n    The officials said discussion of a U.S. Agriculture\nDepartment wheat export subsidy to the Soviet Union was not on\nthe agenda. Matters not on the agenda, however, can be brought\nbefore the council, the officials said.\n    Grain trade officials have speculated that USDA would make\na wheat export enhancement offer to Moscow, but USDA officials\nhave said the matter is not under active consideration.\n    USDA today transmitted to Congress a package of legislative\nproposals, including bills that would cut target prices and\nspeed up loan rate reductions.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:24:05.78",
    "topics": [
      "grain"
    ],
    "places": [
      "usa",
      "ussr"
    ],
    "id": "1845"
  },
  {
    "title": "UNICORP AMERICAN CORP  4TH QTR NET",
    "body": "Shr 13 cts vs 70 cts\n    Net 1,538,000 vs 8,614,000\n    Revs 16.4 mln vs 19.6 mln\n    12 mths\n    Shr 89 cts vs 2.43 dlrs\n    Net 10.3 mln vs 29.8 mln\n    Revs 56.2 mln vs 83.8 mln\n    Note: 1986 net is before preferred dividend payments and\nincludes after-tax gain from sale of real estate properties of\n12.9 mln dlrs.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:28:42.61",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1846"
  },
  {
    "title": "BANNER  COMPLETES REXNORD SHARE PURCHASE",
    "body": "Banner Industries Inc said it completed\nthe previously announced purchase of Rexnord Inc . It said\nit owns 96 pct of Rexnord's outstanding following the purchase\nof all Rexnord's common validly tendered pursuant to its 26.25\ndlr per share cash tender offer ended February 27.\n    Banner also said it received 310 mln dlrs pursuant to a\ncredit agreement with  and the\n and 260 mln dlrs from an offering made\nthrough Drexel Burnham Lambert Inc.\n    The merger of Rexnord with a subsidiary of Banner will be\ncopmleted before mid-May, the company said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:29:09.10",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1847"
  },
  {
    "title": "U.S. REAFFIRMS OPPOSITION TO EC OILS TAX PLAN",
    "body": "A meeting among government agencies\ntoday reaffirmed the strong opposition of the United States to\na proposed new tax on vegetable oils and fats in the European\nCommunity, U.S. trade officials said.\n    Representatives of the major government agencies agreed at\na trade policy review group meeting, which includes officials\nof the deputy secretary rank, to continue diplomatic pressure\non EC member states.\n    \"We (all agencies) are together on this,\" said one U.S.\ntrade official.\n    One source said the U.S. would continue to make clear to\nmember states and to the EC commission that if Brussels\nproceeds with the vegetable oils tax \"there will be a great\ncost.\"\n    U.S. officials said no formal list of European products on\nwhich the U.S. might retaliate, has yet been drawn up.\n    \"I don't think we're at that point yet,\" said one trade\nofficial, adding that the EC has only begun deliberations on\nits farm price package.\n    Suzanne Early, assistant trade representative, told Reuters\nthe interagency meeting was to discuss U.S. strategy on the\nvegetable oils issue. Asked about retaliation, she said\n\"sometimes its better not to be specific.\"\n    U.S. trade representative Clayton Yeutter Monday warned\nanother major transatlantic trade row will develop if the EC\nproceeds with the vegetable oils tax.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:30:24.19",
    "topics": [
      "veg-oil"
    ],
    "organisations": [
      "ec"
    ],
    "places": [
      "usa"
    ],
    "id": "1848"
  },
  {
    "title": " 4TH QTR NET",
    "body": "Shr 15 cts vs 18 cts\n    Net 4,500,000 vs 5,300,000\n    Revs 156.7 mln vs 152.0 mln\n    YEAR\n    Shr 72 cts vs 1.11 dlrs\n    Net 21.7 mln vs 33.0 mln\n    Revs 695.4 mln vs 653.5 mln\n    Note: Shr profit relates to class B non-voting shares.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:31:15.46",
    "topics": [
      "earn"
    ],
    "places": [
      "canada"
    ],
    "id": "1849"
  },
  {
    "title": "IOWA BANK BECOMES 34TH TO FAIL THIS YEAR",
    "body": "The deposits of the failed First\nState Bank of Rockford, Iowa, were assumed by First Security\nBank and Trust Co of Charles City, Iowa, the Federal Deposit\nInsurance Corp (FDIC) said.\n    The FDIC said it acted after First State, with 15.1 mln\ndlrs in assets, was closed today by Iowa Banking Superintendent\nWilliam Bernau. It was the 34th U.S. bank to fail this year,\nand the 12th agricultural bank.\n    To facilitate the transaction, the FDIC said it would pay\nthe assuming bank 4.1 mln dlrs and retain assets of the failed\nbank valued at 4.8 mln dlrs.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:32:26.71",
    "places": [
      "usa"
    ],
    "id": "1850"
  },
  {
    "title": "EIA SAYS DISTILLATE STOCKS OFF 3.4 MLN BBLS, GASOLINE OFF 100,000, CRUDE UP 3.2 MLN\n",
    "date": " 4-MAR-1987 17:32:29.16",
    "topics": [
      "gas",
      "crude"
    ],
    "id": "1851"
  },
  {
    "title": "CHRONAR  CLOSES 20 MLN DLR PLACEMENT",
    "body": "Chronar Corp said it received a\ntotal of 20 mln dlrs through the completion of a private\nplacement of its stock, long-term debt and associated warrants\nwith the Sheet Metal Workers' National Pension Fund and an\naffiliate of .\n    It also said the fund and Harbert Solar Inc, the affiliate,\nnow own about 16 pct of Chronar's common.\n    Chronar also said it expects to report a loss for the year\nof about 4.5 mln dlrs on sales of about 12 mln dlrs compared\nwith a loss of 513,153 dlrs on revenues of 10 mln dlrs in 1985.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:32:44.81",
    "places": [
      "usa"
    ],
    "id": "1852"
  },
  {
    "title": "(G.T.C. TRANSCONTINENTAL GROUP LTD) 1ST QTR NET",
    "body": "Shr 11 cts vs nine cts\n    Net 2.1 mln vs 1.6 mln\n    Revs 60.8 mln vs 32.9 mln\n    Avg shrs 19.7 mln vs 17.2 mln\n    Note: period ended January 31.\nREUTER\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:33:09.41",
    "topics": [
      "earn"
    ],
    "places": [
      "canada"
    ],
    "id": "1853"
  },
  {
    "title": "U.S. CAR SALES UP 6.7 PCT IN LATE FEBRUARY",
    "body": "Sales of new cars by the U.S. auto\nindustry rose 6.7 pct in late February from the weak levels of\na year ago, but industry giant General Motors Corp  was an\nexception with an eight pct drop.\n    The figures represented a slight recovery for the industry\nfrom weak mid-February sales, but the eight domestic-based car\nmanufacturers still saw sales fall 9.1 pct for the full month\nfrom last year.\n    GM, whose sales have been weakening for several months,\ntook only 48.1 pct of domestic car sales in the February 21-28\nperiod compared with 55.7 pct a year ago, when sales for the\nentire industry were depressed from the ending of major\nmarketing incentive campaigns.\n    At the same time, rival Ford Motor Co  said its car\nsales in the period rose 29.3 pct and Chrysler Corp  was up\n11.3 pct.\n    The industry leader's slide was even more marked for the\nfull month as GM took only 37 pct of all car sales in February,\nincluding imports, compared with 43.5 pct a year ago.\n    Industry analysts said the 198,818 domestic-make cars sold\nin the seven selling days of late February represented a\nseasonally adjusted annualized rate of 7.0 mln units while the\n556,953 sold in the month were at a 7.4 mln annual rate.\n    Last year, the industry sold a record 11.44 mln new cars,\nincluding 8.2 mln domestic makes. But consumers have taken a\nbreather since then and car sales sales have been weaker in\n1987 due to tax-induced heavy buying in December, a lack of\nwidespread sales incentives and intermitent bad weather,\nanalysts said.\n    GM sales vice-president C.N. \"Bud\" Moore said in a\nstatement that his company's sales \"began their recovery from\nthe low point reached in January, and we expect the improvement\nto continue in coming months.\"\n    Anne Knight, automotive analyst for Paine Webber and Co,\ntold Reuters that GM's sales were weak, but added: \"I think\nsales will get better in the spring.\"\n    \"GM may make more production cuts in view of the weak\nsales, but this may be a strike year so they might try to build\ninventories,\" she said.\n    In a further effort to revive sales, GM said its\nOldsmobile, Pontiac and Buick divisions would offer many of\ntheir new car lines through April 30 with discount loan\npackages at rates ranging from 3.9 pct for 24-month contracts\nto 9.9 pct for 60-month deals as an alternative to cash\nrebates.\n    Among the smaller U.S.-based manufacturers, Japanese-owned\nAmerican Honda  said its late February car sales rose 96.2\npct from last year while Japanese-owned Nissan  was up\n35.9 pct.\n    German-owned Volkswagen of America fell 42.5 pct, American\nMotors Corp  plunged 62.5 pct and Japan's Toyota \nsold 1,082 domestic makes compared with none a year ago before\nit started domestic production.\n    Detroit's late February truck sales were generally positive\nwith GM up 10.9 pct, Ford up 48 pct, Chrysler gaining 46 pct\nand AMC's jeep sales off 4.0 pct.\n    Imported cars sales, released monthly, were estimated at\n219,300 in February, a 0.4 pct rise from last year and 28.3 pct\nof the overall car market. That was lower than January's 31.4\npct share but above the 26.3 pct share a year ago.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:35:25.39",
    "places": [
      "usa"
    ],
    "id": "1854"
  },
  {
    "title": "PIEDMONT AVIATION RECESSES MEETING WITHOUT TAKING ACTION ON MERGER PROPOSALS\n",
    "date": " 4-MAR-1987 17:36:08.26",
    "topics": [
      "acq"
    ],
    "id": "1855"
  },
  {
    "title": "EIA SAYS DISTILLATE, GAS STOCKS OFF IN WEEK",
    "body": "Distillate fuel stocks held in\nprimary storage fell by 3.4 mln barrels in the week ended Feb\n27 to 128.4 mln barrels, the Energy Information Administration\n(EIA) said.\n    In its weekly petroleum status report, the Department of\nEnergy agency said gasoline stocks were off 100,000 barrels in\nthe week to 251.5 mln barrels and refinery crude oil stocks\nwere up 3.2 mln barrels to 333.0 mln.\n    The EIA said residual fuel stocks fell 2.2 mln barrels to\n37.9 mln barrels and crude oil stocks in the Strategic\nPetroleum Reserve (SPR) were up 700,000 barrels to 516.5 mln.\n    The total of all crude, refined product and SPR stocks were\nunchanged at 1,575.1 mln barrels, it said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:38:41.71",
    "topics": [
      "crude",
      "gas",
      "fuel"
    ],
    "places": [
      "usa"
    ],
    "id": "1856"
  },
  {
    "title": "KEMP URGES REAGAN TO OPPOSE STOCK TAX",
    "body": "Rep. Jack Kemp, a New York\nRepublican, urged President Reagan to oppose any legislation to\nimpose a tax on stock transactions.\n    In a statement Kemp called the tax \"a money grab to permit\nDemocrats to begin another government spending spree.\"\n    \"I call upon President Reagan to signal immediately that he\nwill veto any tax increase on stock transfers,\" Kemp said. He\nadded that the tax would punish the 50 million stockholders.\n    House Speaker James Wright, a Texas Democrat, has asked\ncongressional tax analysts to look at a 0.25 to 0.5 pct tax on\nstock trades along with other tax proposals to help reduce the\nfederal budget deficit.                \n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:38:53.47",
    "places": [
      "usa"
    ],
    "id": "1857"
  },
  {
    "title": "CANADA CENTRAL BANK HEAD SEES MODERATE GROWTH",
    "body": "Bank of Canada Governor John Crow said he\nexpects the Canadian economy will grow moderately in the coming\nyear, despite the near flat growth in the final quarter of\n1986.\n    \"We see moderate growth,\" Crow told a news conference\nfollowing presentation of the central bank's annual report in\nthe House of Commons today.\n    He said there were positive signs of growth in the economy,\nparticularly the drawdown of business inventories in the fourth\nquarter. Yesterday, Statistics Canada reported gross domestic\nproduct expanded a slight 0.2 pct in the quarter.\n    Crow reiterated the bank's previous statements that\ninflation remains a major priority in setting monetary policy\nand said only zero inflation would be acceptable. Canada's\ninflation rate is currently hovering around the four pct mark.\n    The governor said Canada's banking system remains sound\ndespite recent concern about exposure by the country's banks in\ndebt plagued countries such as Brazil.\n    \"It (the debt problem) is not a happy development but I\nthink it can be overplayed in terms of its impact,\" Crow told\nreporters.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:39:27.10",
    "topics": [
      "gnp"
    ],
    "places": [
      "canada"
    ],
    "id": "1858"
  },
  {
    "title": "IMPORT TAX LIFTED ON CAPITAL GOODS",
    "body": "Argentina's Idustry and Foreign\nTrade Secretary announced the lifting until December 1989 of\nimport taxes on capital goods not produced in the country.\n    Roberto Lavagna in a news conference also said Argentina\nwould create a special programme for promoting industry and was\nstudying a system of temporary, automatic and generalised\nadmission of goods from neighbouring Brazil.\n    Lavagna said the measures were in line with an adjustment\nin economic policy to stall a new upsurge in inflation. The\ngovernment last week froze prices and wages and devalued the\nAustral six pct against the dollar.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:43:51.55",
    "places": [
      "argentina",
      "brazil"
    ],
    "id": "1859"
  },
  {
    "title": "ALLIS-CHALMERS  PROPOSES RESTRUCTURING",
    "body": "Allis-Chalmers Corp said it asked\nlenders and other groups to approve a restructuring plan that\nwould cause a dilution of the company's existing common stock.\n    The company said it would sell all of its businesses other\nthan the American Air Filter business, make a public financing\nof more than 100 mln dlrs and pay part of the currently\noutstanding debt with the proceeds.\n    Under the plan, which was presented to institutional\nlenders, the company's unions and the Pension Benefit Guaranty\nCorp, \"substantial amounts\" of institutional debt would be\nconverted to common stock of the restructured company.\n    Allis-Chalmers said it will exchange existing preferred\nstock for common. The exchange of the institutional debt and\npreferred stock for common equity will cause a \"resulting\ndilution of the existing common stock,\" Allis-Chalmers said in\na statement.\n    Under the plan, holders of existing common would hold about\n15 pct of the restructured common stock. Holders of existing\npreferred would hold about 35 pct of the new common.\n    Allis-Chalmers said its only alternative to the plan is\nbankruptcy. The restructuring must be approved by creditors,\ncommon and preferred holders,and present and former employees.\n    Allis-Chalmers said a bankruptcy filing \"appears to\nrepresent the company's only alternative if agreement upon the\nterms of the plan cannot be reached.\"\n    The spokesman said in response to an inquiry that he was\nnot aware of any extraordinary charge against earnings that\nwould result from the restructuring.\n    \"It is too early to talk about a charge\" because the plan\nmust still be approved by the lenders and unions, he said.\n    Also under the plan, payments to Allis-Chalmers' private\nlenders would be deferred. Trade payables and obligations\nincurred in the ordinary course of business will be met.\n    Payment of health benefits for active and retired employees\nwould be made \"at substantially reduced levels.\"\n    Allis-Chalmers, once one of the leading farm equipment\ncompanies, sold all of its farm equipment operations to Deutz\nof West Germany for 107 mln dlrs, leaving the company with\nbusinesses in lift trucks, air conditioning, fluids handling\nand solid materials processing.\n    Last year, Allis-Chalmers sold the lift truck business to\nAC Material Handling Co of Columbus, Ohio.\n    Under the restructuring plan, Allis-Chalmers will sell its\nsolid materials processing and fluids handling businesses.\nSolid materials processing, which makes equipment to crush\nstones for highway construction, accounted for 288 mln dlrs of\nAllis-Chalmers's total 1985 revenues of 886 mln dlrs.\n    The company will also sell its fluids handling operations,\nwhich makes pumps and valves. That business accounted for 196\nmln dlrs of the company's 1985 revenues.\n    Allis-Chalmers in 1986 reported a net loss of 8.6 mln dlrs,\nor 1.09 dlrs a share. In 1985, the company lost 168.4 mln dlrs,\nor 12.27 dlrs a share.\n    The company's last profit was in 1980, when it earned 52.4\nmln dlrs on sales of 2.1 billion dlrs.\n   \n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:44:16.59",
    "topics": [
      "acq",
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1860"
  },
  {
    "title": "AMVESTORS FINANCIAL CORP  4TH QTR NET",
    "body": "Oper shr profit 11 cts vs loss 27 cts\n    Oper net profit 662,625 vs loss 774,002\n    Revs 43.9 mln vs 18.4 mln\n    Year\n    Oper shr profit 37 cts vs loss 37 cts\n    Oper net profit 1,487,796 vs loss 1,119,626\n    Revs 150.1 mln vs 51.7 mln\n    NOTE: 1986 4th qtr and yr oper net excludes 6,134 dlrs and\n720,500 dlrs or 20 cts per share, respectively, for realized\ninvestment gains.\n    1986 qtr and yr oper net also excludes 102,300 dlrs and\n257,300 dlrs, respectively, for tax loss carryforwards.\n    1985 4th qtr and yr oper net excludes realized investment\ngains of 449,920 dlrs or 15 cts per share and 897,949 dlrs or\n30 cts per share, respectively.\n    1985 4th qtr oper net also excludes a loss of 42,820 dlrs\nfor carryforward.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:45:24.51",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1861"
  },
  {
    "title": "PIEDMONT  TAKES NO ACTION",
    "body": "Piedmont Aviation Inc said\nits board meeting recessed today without taking action on\nproposals to combine Piedmont with other corporations.\n    Piedmont has received opposing bids from Norfolk Southern\nCorp and US Air Corp.\n    Earlier today, Trans World Airlines Inc offered to either\nbuy Piedmont suitor US Air or, alternatively, to merge with\nPiedmont and U.S. Air.\n    IN a prepared statement, Piedmont said there would be no\nfurther announcements concerning this situation today.\n    The company declined to say when the board would meet\nagain.\n   \n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:46:28.17",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1862"
  },
  {
    "title": "YEUTTER CONCERNED ABOUT U.S. EXPORT PICTURE",
    "body": "U.S. Trade Representative Clayton\nYeutter said he expects imports to fall soon but he was\nconcerned about the lack of improvement in U.S. exports given\nthe dollar's decline in the last 18 months.\n    \"I'm convinced we're about to see an improvement on the\nimport side. I'm more concerned about the export side,\" he told\na House Appropriations subcommittee.\n    Part of the blame goes on other countries which have not\ngenerated the economic growth to increase demand for U.S. goods\nand part to some U.S. companies which are not generating\ncompetitive exports, he said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:46:46.83",
    "topics": [
      "trade"
    ],
    "places": [
      "usa"
    ],
    "id": "1863"
  },
  {
    "title": "FORMER TRW EMPLOYEE SAYS FIRM WAS UNETHICAL",
    "body": "A former TRW Inc controller told a\nCongressional hearing that the company had acted unethically in\nits defense contracts with the government.\n    \"It is my contention that the company called TRW is not ever\nvigilant and highly ethical as a defense contractor. TRW only\npretends to be an honest citizen when that scheme best fits\ntheir financial interests,\" Larry Eagleye said in testimony at a\nHouse Oversight subcommittee hearing.\n    Eagleye was a controller at TRW's compressor components\ndivision in Cleveland.\n    Subcommittee chairman John Dingell, D-Mich, said he did not\nunderstand why the Defense Department had taken no action\nagainst TRW even though it admitted in the 1984 report that it\nhad substantially overcharged the government for military\naircraft parts.\n    \"In 1984, TRW officials admitted to the Defense Department\nInspector General that they had evidence of two sets of books\nand other problems in one of the company's divisions in\nCleveland and that there had been substantial overcharging of\nthe federal government on various military aircraft parts,\"\nDingell said.\n    \"For example, by falsifying its books and records, TRW\ninflated the price of a military engine blade by two to three\ntimes higher than the price of a virtually identical commercial\nengine blade,\" Dingell said in a statement.\n    Eagleye and two other former employees filed a suit against\nTRW last year charging the company with overcharging the\ngovernment. The Justice Department later joined the suit.\n    \"While employed by TRW and while under investigation by TRW,\nI disclosed to TRW's legal department and higher management,\nmany flagrant and obvious violations of law, company policy and\nethical conduct. None of this evidence was included in TRW's\n(1984) report to the government,\" he said.\n   \n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:52:15.06",
    "places": [
      "usa"
    ],
    "id": "1864"
  },
  {
    "title": "PENTAGON DELAYS PLAN TO BUY EUROPEAN MISSILE",
    "body": "The U.S. Army has delayed plans to\nbuy a European anti-aircraft missile to help protect U.S.\nground forces from Soviet attack helicopters, Defense\nDepartment officials said.\n    The Army has been considering buying some British Rapier\nmissiles or French and German Roland missiles as a stop-gap\npartial replacement this year for the flawed U.S. Sgt. York\nDivision Air Defense (DIVAD) gun which was canceled in 1985.\n    Despite recent indications by the service that it intended\nto buy the missiles soon, defense officials told Reuters a\nfinal decision had been suspended because some Army officials\nfavored a more versatile gun-missile combination.\n    The gun-missile combination would open the competition wide\nto U.S. firms.\n    \"The missile option is on hold now and no decision has been\nmade,\" said one of the Pentagon official, who asked not to be\nidentified.\n    \"There is some sentiment to take things more slowly and see\nif we can avoid a stop-gap system until we can come up with an\nintegrated system of our own,\" said another official.\n    Army Lt. Col. Craig McNab said, however, that Ronald and\nRapier \"are not out of the picture by a long shot.\"\n    There has been strong sentiment in the Army to reject a\nmissile only and to opt for a more versatile combination gun\nand missile system mounted on a tracked vehicle.\n    Such a move would throw the competition wide open to U.S.\nfirms, including General Electric Co , Boeing Co , FMC\nCorp  and Martin Marietta Corp .\n    But some Pentagon officials have expressed fears that an\n\"off-the-shelf\" gun-missile combination could not be fielded\nquickly enough.\n     Defense Secretary Caspar Weinberger canceled the Sgt. York\ngun, made by Ford Motor Co  Aerospace and Communications\nCorp, after the Pentagon had already spent 1.8 billion dlrs on\nthe system and then decided it could not shoot down attack\nhelicopters at the proper range.\n    The Army later expanded the division air defense concept,\nannouncing it would divide the system into five different\ncomponents for the 1990s at a cost of more than 10 billion\ndlrs, including a missile and gun-system combination on a\ntracked vehicle.\n   \n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:57:24.42",
    "places": [
      "usa",
      "uk"
    ],
    "id": "1865"
  },
  {
    "title": "TRW  RESPONDS TO CHARGES BY EX-EMPLOYEE",
    "body": "TRW Inc, responding to allegations by\nan ex-employee that it was unethical in defense contract\ndealings, said it had previously informed the government of the\nbilling problems.\n    \"We heard nothing of substance as far as allegations by\nformer employees that were not related to findings that we had\nreported to the government of misdeeds at our compressor\ncomponents group,\" a TRW spokesman said.\n     The spokesman said the company conducted an internal\ninvestigation and presented the findings to the government\nbeginning in late 1984.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 17:59:03.85",
    "places": [
      "usa"
    ],
    "id": "1866"
  },
  {
    "title": "INTERNATIONAL BORROWING REACHES RECORD IN 1986",
    "body": "Record high borrowing of 376 billion dlrs\nin 1986 on international capital markets was supported by a\nlarge volume of debt refinancing and growing integration\nbetween national and international markets, the OECD said.\n    The Organisation for Economic Cooperation and Development\n(OECD) said in its latest Financial Market Trends report the 34\npct rise over 1985 volume was accompanied by major changes in\nthe relative importance of the instruments used in\ninternational financing.\n    Straight bond offerings, equity related securities and\neuro-commercial paper programmes as a share in total financing\nrose to their highest level this decade. The markets for\nfloating-rate notes and for note issuance facilities declined.\n    The OECD said another striking feature of international\ncapital markets in 1986 was the unprecedented concentration of\nlending to the OECD group of western industrialised countries,\nwhich accounted for 90 pct of total borrowing.\n    Factors behind the heightened pace of activity included a\nnotable decline in interest rates which boosted borrowing\nthrough the flotation of fixed-interest securities.\n    This in turn was stimulated by growing familiarity with new\ntechniques such as interest rate and currency swaps.\n    Stockmarket buoyancy supported the expansion of\nequity-related bond issues and favoured the expansion of a\nrapidly expanding market for euro-equities.\n    A slowdown in net demand for funds by sovereign borrowers\nwas more than offset by a large volume of refinancing\noperations induced by improved market conditions and stronger\ndebt management policies. Growing integration with national\nmarkets meant the arrival of a large number of new players on\ninternational markets.\n    It added the development of a smoothly-functioning market\nfor short-term euro-notes made committee and non-underwritten\nissuance facilities an increasingly popular alternative to\ntraditional forms of bank lending.\n    Turning to 1987, the OECD pointed to indications of a\npossible slowdown of international markets' expansion and\npossibly less easy borrowing terms in a number of market areas.\n    It said many market participants saw little scope for a\nfurther decline in long-term rates and anticipate a slowdown in\nthe pace of fixed-rate activity in the months ahead.\n    It saw little reason for a turnaround in the decline in\ndemand of recent years, although it was likely more borrowers\nwould try to make use of cost-reducing opportunities provided\nby the market for euro-commercial paper.\n    \"It remains to be seen however to what extent the ECP market\nwill be ready to absorb a significant volume of paper from\nlower-rated borrowers,\" the report said, adding that any major\nadvance in the euro-note market's absorptive capacity would\nrequire a significantly broader investor base.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 18:02:15.51",
    "organisations": [
      "oecd"
    ],
    "places": [
      "france"
    ],
    "id": "1867"
  },
  {
    "title": "NYMEX OUTGOING CHAIRMAN SEES MAJOR CHANGES",
    "body": "Trading in energy futures on the New\nYork Mercantile Exchange will change dramatically over the next\nfive to 10 years as the market matures, according to outgoing\nchairman Michel Marks.\n    \"Energy futures trading is going through a tremendous\nperiod of transition that will last five to 10 years,\" Marks\nsaid, adding that volume will soar, international participation\nwill increase, and activity of producing countries, major oil\ncompanies, and speculators will grow.\n    Marks steps down as chairman after an nine-year tenure when\nboard elections are held March 17. He will continue as chairman\nof a long-range planning committee at NYMEX.\n    \"The priority of the next 10 years is operational\nefficiency versus the last 10 years when it was new product\ndevelopment,\" said Marks.\n    Marks said it is imperative for NYMEX, which is running out\nof trading space, to process greater volumes expeditiously in\norder to handle the growth in volumes and new contracts that\nare already planned.\n    Marks said crude futures volume could more than double by\nthe end of the decade to 250,000 contracts daily and combined\nproducts volume could soar to  100,000 contracts a day.\n    Much of the increased activity will come from the\ninternational sector, according to Marks. \"That's a huge growth\narea,\" he said, adding that it will run the gamut from foreign\nproducer countries to foreign independent operators.\n     He said it would be difficult to develop a futures\ncontract based on an internationally traded crude although he\npreviously said the exchange is exploring that possibility.\n    \"Trying to develop a futures contract in any other crude\nbesides West Texas Intermediate will be a tough task\" he said.\n     Marks said it is more likely a futures contract based on\nan international product rather than an international crude\nwill be developed since the products market is more diverse. He\nsaid previously the exchange is studying the possibility of\ndeveloping a non-U.S. deliverable products contract.\n    Other sources of growth for U.S. energy futures are the\nmajor oil companies, which already trade on the NYMEX, and\ninstitutional funds such as investment houses, pension funds,\nand insurance companies, Marks said.\n    \"The commodities markets have become financial markets and\nshould pursue a partnership with financial intermediaries,\"\nMarks said.\n    He said speculators will increase their share of the energy\nfutures markets in the coming years from the current  share of\nabout 30 pct. Hedgers, as a result, will lose some of their 70\npct share.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 18:02:51.76",
    "places": [
      "usa"
    ],
    "id": "1868"
  },
  {
    "title": "NBI  INTRODUCES NEW PRODUCTS",
    "body": "NBI inc said it has reduced prices\nof on its 5000 series publishing workstations by 30 pct and has\nintroduced a new electronic publishing workstation, a\nmini-computer and an image scanner at the Corporate Electronic\nPUblishing Systems Show.\n    All of NBI's 5000 Series are included in the new pricing\nincluding the Integrated workstation formerly priced at 14,490\ndlrs and the pro publisher formerly priced at 15,490 dlrs.\n  \n Reuter\n\u0003",
    "date": " 4-MAR-1987 18:07:38.39",
    "places": [
      "usa"
    ],
    "id": "1869"
  },
  {
    "title": "PHILIPPINE, ARGENTINE DEBT TALKS CONTINUE",
    "body": "The Philippines and its bank advisory\ncommittee completed a second day of talks on the country's\nrequest to reschedule 9.4 billion dlrs of debts, bankers said.\n    They declined to disclose details of the negotiations, but\nsaid it would be unrealistic to expect an outcome until next\nweek at the earliest.\n    Talks with Argentina over 2.15 billion dlrs of new loans\nand a multi-year rescheduling also continued in New York, with\nthe Citibank-led advisory committee making a counter-proposal\nto Argentina's original offer. Bankers remain hopeful that an\nagreement can be reached by the middle of the month.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 18:08:19.57",
    "places": [
      "usa",
      "philippines",
      "argentina"
    ],
    "id": "1870"
  },
  {
    "title": "HOUSE TRADE BILL DRAFTING POSTPONED",
    "body": "The House Ways and Means trade\nsubcommittee postponed until next week its opening session to\nstart drafting major changes to U.S. trade laws, a committee\naide said.\n    The subcommittee had not yet completed the preparatory work\nto start writing the legislation, the aide said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 18:11:09.33",
    "topics": [
      "trade"
    ],
    "places": [
      "usa"
    ],
    "id": "1871"
  },
  {
    "title": " YEAR LOSS",
    "body": "Oper shr loss 20 cts vs profit 66 cts\n    Oper net loss 1,995,000 vs profit 5,820,000\n    Revs 65.2 mln vs 53.0 mln\n    Avg shrs 9,891,000 vs 8,811,000\n    Note: 1986 loss excludes extraordinary loss of 2,413,000\ndlrs or 25 cts shr including corporate reorganization,\ndiscontinuing of U.S. operations and inventory writedown of\nU.S. subsidiaries vs yr-ago loss of 3,140,000 dlrs or 36 cts\nshr.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 18:16:31.46",
    "topics": [
      "earn"
    ],
    "places": [
      "canada"
    ],
    "id": "1872"
  },
  {
    "title": "HCC INDUSTRIES  QUARTERLY DIVIDEND",
    "body": "Qtly div three cts vs three cts\n    Pay March 27\n    Record March 16\n Reuter\n\u0003",
    "date": " 4-MAR-1987 18:16:34.18",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1873"
  },
  {
    "title": "REGAL , BELL PETROLEUM IN REORGANIZATION",
    "body": "Regal International Inc said it proposed\nto submit a plan of reorganization with the U.S. Bankruptcy\nCourt under which it will acquire Bell Petroleum Services INc's\nby paying out all of its creditors and issue one share for each\nshares of Bell's stock.\n    This proposal has been amended from a previously rejected\noffer of .50 Regal share for each Bell share.\n    Regal said its will pursue the acquisition without the\nsupport of Bell's management.\n    Bell Petroleum filed its Chapter 11 petition in November\n1986 and has not, as yet, filed a plan of reorganization but\nhas only sought an order extending the exclusive order,\naccording to Regal.\n    Bell Petroleum President Ed Runyan said the company is\nevaluating Regal's latest offer and evaluating other\nalternatives.\n    Runyan said Bell is meeting tomorrow with another potential\nsuitor.\n   \n Reuter\n\u0003",
    "date": " 4-MAR-1987 18:24:24.69",
    "places": [
      "usa"
    ],
    "id": "1874"
  },
  {
    "title": "SOUTHLAND  UNIT RAISES CRUDE PRICES",
    "body": "Southland Corp's Citgo Petrleum Corp\nsaid it raised the contract price it will pay for all grades of\ncrude oil by one dlr a barrel, effective today.\n    The increase brings Citgo's posted price for West Texas\nIntermediate to 17.00 dlrs a bbl. West Texas Sour is also now\npriced at 17.00 dlrs/bbl, and Light Louisiana South is posted\nat 17.35 dlrs/bbl.\n    On February 25 Citgo lowered its crude postings 50 cts to\n1.50 dlrs per bbl, and cut WTI one dlr to 16.00.\n    \n Reuter\n\u0003",
    "date": " 4-MAR-1987 18:32:28.86",
    "topics": [
      "crude"
    ],
    "places": [
      "usa"
    ],
    "id": "1875"
  },
  {
    "title": "MAZDA MOTOR CORP REPORTS LOWER U.S. SALES",
    "body": "Mazda Motor Corp of Japan reported\ncar sales in the U.S. during February of 10,049, down from\n19,448 during February last year.\n    The company said year to date car sales in the U.S. totaled\n21,092, down from 38,441 a year earlier.\n    Truck sales in the U.S. totaled 8,558 in February, down\nfrom 9,693 a year earlier. Year to date U.S. truck sales\ntotaled 16,917, compared to 18,341 a year ago.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 18:32:44.16",
    "places": [
      "usa"
    ],
    "id": "1876"
  },
  {
    "title": " 4TH QTR NET",
    "body": "Shr profit ten cts vs loss six cts\n    Net profit 43,000 vs loss 26,000\n    Year\n    Shr profit 46 cts vs profit 12 cts\n    Net profit 193,294 vs profit 51,029\n    Assets 44.4 mln vs 25.3 mln\n    Deposits 40.0 mln vs 21.4 mln\n    Loans 25.3 mln vs 15.2 mln\n Reuter\n\u0003",
    "date": " 4-MAR-1987 18:36:49.23",
    "topics": [
      "earn"
    ],
    "places": [
      "usa"
    ],
    "id": "1877"
  },
  {
    "title": "RECENT U.S. OIL DEMAND UP 2.1 PCT FROM YEAR AGO",
    "body": "U.S. oil demand as measured by\nproducts supplied rose 2.1 pct in the four weeks ended February\n27 to 16.39 mln barrels per day (bpd) from 16.05 mln in the\nsame period a year ago, the Energy Information Administration\n(EIA) said.\n    In its weekly petroleum status report, the Energy\nDepartment agency said distillate demand was down 2.1 pct in\nthe period to 3.37 mln bpd from 3.44 mln a year earlier.\n    Gasoline demand averaged 6.60 mln bpd, up 2.4 pct from 6.44\nmln last year, while residual fuel demand was 1.47 mln bpd, up\n1.9 pct from 1.44 mln, the EIA said.\n    Domestic crude oil production was estimated at 8.38 mln\nbpd, down 8.7 pct from 9.18 mln a year ago, and gross daily\ncrude imports (excluding those for the SPR) averaged 4.11 mln\nbpd, up 36.9 pct from three mln, the EIA said.\n    Refinery crude runs in the four weeks were 12.21 mln bpd,\nup 2.2 pct from 12 mln a year earlier, it said.\n    Year-to-date figures will not become available until March\n26 when EIA's Petroleum Supply Monthly data for January 1987\nbecomes available, the agency said.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 18:37:04.84",
    "topics": [
      "crude",
      "gas"
    ],
    "places": [
      "usa"
    ],
    "id": "1878"
  },
  {
    "title": "SECURITIES GROUP FAVORS NEW BANK POWER FREEZE",
    "body": "The Securities Industry Association\nendorsed legislation expected to come before the Senate Banking\nCommittee tomorrow imposing a moratorium on new powers for\ncommercial banks.\n    Robert Gerard, managing director of Morgan Stanley and Co,\ntold reporters his group, which mainly represents investment\nbanking firms, supported committee members who want the Federal\nReserve Board to postpone action on applications by three bank\nholding companies seeking new powers.\n    \"The Fed ought to hold those applications in abeyance\npending congressional review,\" Gerard said.     \n    The legislation before the committee would recapitalize a\nfederal desposit insurance fund for savings and loan\nassociations and prohibit new nonbank banks.\n    Gerard said the securities association had no position on\nnonbank banks.\n    The association wants Congress to undertake a comprehensive\nstudy before changing the Glass-Steagall Act, which separates\ncommercial and investment banking activities, Gerard said.\nUntil the study is completed, the Fed should not act on the\napplications by Citicorp, J.P. Morgan and Co. and Bankers Trust\nNew York Corp to underwrite and deal in securities, he said.   \n    The study was likely to show substantial benefits from\ncontinuing the separation of commercial and investment banking,\nhe said.\n    Gerard said the group believes a proposal by House Speaker\nJim Wright for a tax on securities was unjustified and would\nhurt individual investors and beneficiaries of pension funds\nthat invest in securities.\n    \"It may reduce the volume of activity, but the tax is a tax\non the saver and investor,\" Gerard said.\n    In addition, a U.S. tax would drive business from the\nUnited States to other countries, he said.             \n Reuter\n\u0003",
    "date": " 4-MAR-1987 18:39:07.44",
    "places": [
      "usa"
    ],
    "id": "1879"
  },
  {
    "title": "COFFEE PRICE DROP NOT AFFECTING COLOMBIA'S DEBT",
    "body": "the sharp fall in international coffee\nprices will not affect colombia's external credit situation,\nfinance minister cesar gaviria told reuters.\n    \"our foreign debt is high, but we can pay, and I hope the\nforeign banking community will maintain its position toward us,\"\nhe said.\n    He said the current decline on world coffee markets was not\ntotally unexpected and would have no immediate bearing on\ncolombia's financial state, which he described as sound.\n    Gaviria said the decline in coffee prices could mean a loss\nof 1.5 billion dlrs in revenues for 1987.\n    The conservative party and the country's largest trade\nunion called this week for the debt to be rescheduled following\nthe price drop.\n    Colombia, the only major latin american country not to have\nrescheduled its external public debt, has a total foreign debt\nof 13.6 billion dlrs.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 18:43:35.86",
    "topics": [
      "coffee"
    ],
    "places": [
      "colombia"
    ],
    "id": "1880"
  },
  {
    "title": "GULF STATES  ASKS FOR REQUIREMENT REMOVAL",
    "body": "Gulf States Utilities Co said it\nasked the Public Utility Commission of Texas to remove a\ncondition that it secure a line of credit before the emergency\nrates can be put into effect in the Texas service area.\n    The commission granted it a 39.9 mln dlrs interim rate\nincrease February five, contingent upon Gulf States obtaining a\n250 mln dlr line of credit.\n    A motion for rehearing will be considered at as commission\nmeeting on March 11, it said. Gulf States said it is concerned\nthe credit line requirement will give potential lenders an\nadvantage that would be damaging to the company.\n   \n Reuter\n\u0003",
    "date": " 4-MAR-1987 18:44:13.40",
    "places": [
      "usa"
    ],
    "id": "1881"
  },
  {
    "title": "USDA WOULD SCRAP COTTON, RICE, BEAN PRICE FLOORS",
    "body": "The package of proposed farm policy\nchanges that the Reagan administration sent to Congress today\nincludes a provision that would eliminate minimum price support\nlevels for upland cotton, rice and soybeans.\n    The package, obtained by Reuters, also includes a\nprovision, outlined in advance by USDA officials, that would\nincrease the annual permissible cut in the basic price support\nlevels for all major crops to 10 pct from five pct.\n    Under current law, the basic support prices for upland\ncotton, rice and soybeans between 1987 and 1990 cannot be cut\nbelow 50 cents per lb, 6.50 dlrs per hundredweight and 4.50\ndlrs per bushel, respectively.\n    USDA's intention to propose scrapping price floors for\ncotton, rice and soybeans had not been disclosed previously.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 18:48:10.60",
    "topics": [
      "grain",
      "cotton",
      "rice",
      "oilseed",
      "soybean"
    ],
    "id": "1882"
  },
  {
    "title": "GATT SETS UP PANEL ON CANADIAN HERRING, SALMON",
    "body": "The ruling GATT Council today set up a\nformal dispute panel to examine a U.S. complaint that a\nCanadian law prohibiting export of unprocessed herring and\nsalmon was discriminatory.\n    David Wood, official spokesman of the General Agreement on\nTariffs and Trade (GATT), told a news briefing the decision was\ntaken after bilateral consultations failed to resolve the row.\n    U.S. Ambassador Michael Samuels charged during the Council\ndebate that Canada was trying to preserve domestic jobs by\ninsisting that herring and salmon be processed at home.\n    Robert White, Canada's deputy chief of delegation, replied\nthe law was in line with GATT rules, and was for conservations\nreasons. But he agreed to setting up the dispute panel.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 18:49:33.15",
    "organisations": [
      "gatt"
    ],
    "places": [
      "usa",
      "canada",
      "switzerland"
    ],
    "id": "1883"
  },
  {
    "title": "EXCHANGE BANK  SEES BANK INDUSTRY SHAKEOUT",
    "body": "Opportunities for medium-sized banks to\ncompete in the face of the increasing centralization of the\nfinancial services industry may be dwindling, according to John\nRau, president of the Exchange National Bank of Chicago.\n    \"We're going to see a continued shaking-out of the banking\nindustry,\" Rau told Reuters after a speech to securities\nanalysts and investment advisors.\n    Rau said Exchange National Bank has concentrated its\nresources on financial services for medium-sized Chicago and\nMidwest businesses, asset-based lending to middle-market\ncompanies, and sales and trading of financial services.    \n    \"Most commercial banks depend on relatively low cost\nconsumer deposits for their income. We decided to move our\nfranchise into a less susceptible niche,\" Rau said.\n    \"Nichemanship is a very difficult thing, especially in\nurban areas where inevitably banking franchises are mass-market\noriented,\" Rau said. \"The odds are against other banks doing\nwhat we have done.\"\n    Exchange National Bank is the principal subsidiary of The\nExchange International Corp. With total assets of 1.9 billion\ndlrs, it is Chicago's fifth largest bank. Net income totalled\n10.2 mln dlrs or 1.10 dlrs a share in 1986, up from 7.7 mln\ndlrs or one dlr a share in 1985.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 18:52:10.57",
    "places": [
      "usa"
    ],
    "id": "1884"
  },
  {
    "title": "SOUTH AFRICAN FOREIGN RESERVES UP SHARPLY",
    "body": "South Africa's total gold and\nforeign assets rose by 700 mln rand in February to 6.2 billion\nrand after rising by almost one billion rand in January,\nReserve Bank Governor Gerhard de Kock said.\n    De Kock, interviewed on state-run television, gave no\nbreakdown of the reserves.\n    He also said that to curb inflation, salary increases would\nhave to be below the inflation rate. The state must set an\nexample by keeping wage increases below the inflation rate, he\nsaid.\n    Consumer prices rose by 16.1 pct in the year to January.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 18:52:47.42",
    "topics": [
      "reserves"
    ],
    "places": [
      "south-africa"
    ],
    "id": "1885"
  },
  {
    "title": "WTC INTERNATIONAL  SETS SOUTH AFRICA TRUST",
    "body": "WTC International N.V. said it\nhas sold its affiliates in South Africa to an independent\ntrust, created to continue the operations in that country.\n    The purchase price was about 8.4 mln dlrs, represented by a\nten-year interest-bearing note, payable annually at 11 pct, to\nbe paid by the trust out of proceeds from the South African\noperations, the company said.\n    WTC said its board concluded in view of the social,\npolitical and economic situatin in South Africa, it was best to\nseparate the company from its interests there.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 18:53:01.73",
    "topics": [
      "acq"
    ],
    "places": [
      "south-africa"
    ],
    "id": "1886"
  },
  {
    "title": "MOST BOLIVIAN CENTRAL BANK EMPLOYEES RESIGN",
    "body": "about 1,000 bolivian central bank\nemployees, more than 80 per cent of the workforce, accepted\nmanagement terms to quit today, a union leader said.\n    \"none of the employees who have decided to resign from the\ninstitution is prepared to work again in the bank, unless many\nof the economic and social conditions improve,\" bank workers\nleader mario galindas told reuters.\n    The centre-right government of president victor paz\nestenssoro had approved a restructuring plan which envisaged at\nleast 600 redundancies, about half the bank's workforce, in\nline with its policy of streamlining the state sector.\n    Galindas said the bank needed at least 800 employees to\nkeep up its present functions.\n    The bank agreed to pay a 5,000 dollar bonus to every\nemployee who resigned, as well as the legal redundancy terms of\nthree months salary plus one for every year worked.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 18:54:28.78",
    "places": [
      "bolivia"
    ],
    "id": "1887"
  },
  {
    "title": "SURINAM GOVERNMENT TO DISCUSS ECONOMIC CRISIS",
    "body": "Surinam's military government opens a\nfour-day congress tomorrow to discuss the country's deepening\neconomic crisis, the official Surinam News Agency reported.\n    Acting Prime Minister Jules Wijdenbosch will open the\nmeeting which is being attended by government officials,\npolitical leaders and heads of labor unions.\n    Surinam's economy has suffered a sharp downturn in recent\nmonths as a result of guerrilla activities led by former\nsoldier Ronny Brunswijk, who is seeking to overthrow the\ngovernment of Commander Desi Bouterse.\n    The guerrillas have forced the shutdown of most of\nSurinam's vital bauxite and aluminum industry, creating a\nforeign exchange crisis and food shortages.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 18:59:00.18",
    "places": [
      "suriname"
    ],
    "id": "1888"
  },
  {
    "title": "IVORY COAST SAYS COFFEE PRICE FALL SHORT-LIVED",
    "body": "Ivory Coast today predicted that the\npresent coffee price crash recorded after the collapse of the\nrecent International Coffee Organisation (ICO) meeting in\nLondon would not last long.\n    Commenting on Monday's failure by producer and consumer\nnations to agree on new export quotas needed to tighten an\noversupplied coffee market, Ivorian Agriculture Minister Denis\nBra Kanon told reporters that traders would eventually be\nobliged to restore their positions.\n    \"I am convinced the market is going to reverse by April,\" he\ntold a news conference here at his return from the failed\nLondon talks.\n    Robusta coffee beans for May delivery ended the day in\nLondon down about 50 sterling at 1,265 sterling a tonne, the\nlowest since 1982.\n    Bra Kanon estimated at at least 535 billion CFA francs\n(1.76 billion dlrs) the overall loss in revenues earned by\nIvory Coast from all its commodities exports this year if the\nslide on the world markets continues.\n    He disclosed that his country - the world's biggest cocoa\nproducer and the third largest for coffee -- would spearhead an\nAfrican initiative to reach a compromise formula by the end of\nnext month.\n    Ivory Coast has been chosen by the Abidjan-based\nInter-African Coffee Organisation (IACO) to speak on behalf of\nthe continent's 25 producer nations at the London talks.\n    \"An initiative from IACO is likely very soon,\" he said\nwithout elaborating.\n    \"Following the London collapse, we have immediately embarked\non a concertation course to avoid breaking an already fragile\nmarket,\" he said.\n    Questioned by journalists, the minister said President\nFelix Houphouet-Boigny estimated for the moment that his\ngovernment would not be forced to reduce the price guaranteed\nby the state to Ivorian coffee-growers for the current season.\n    Last year, the West African nation announced that the\ncoffee producer price would stay at 200 CFA francs (65 cents)\nper kilo.\n    Bra Kanon said that his country would strive to diversify\nits agricultural production to avoid beeing too dependent from\nworld market fluctuation.\n    A communique read over the state-run television tonight\nsaid that during today's weekly cabinet meeting, the veteran\nIvorian leader reaffirmed \"his faith in Ivory Coast's bright\n(economic) future\" despite the commodities price slide.\n    The Agriculture Minister also announced the government\ndecided to earmark a sum of 7.5 billion CFA francs (24.71 mln\ndlrs) to support the country's small farmers.\n    Financially-strapped Ivory Coast, long regarded as one of\nAfrica's showpiece economies, is going through difficult times\nfollowing the sharp slump in the world price of cocoa and\ncoffee.\n    Ivory Coast's real gross domestic product is expected to\ngrow only one pct this year compared to five pct in 1986,\naccording to a recent Finance Ministry estimate.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 19:04:16.01",
    "topics": [
      "coffee"
    ],
    "organisations": [
      "ico-coffee"
    ],
    "places": [
      "ivory-coast"
    ],
    "id": "1889"
  },
  {
    "title": "N.Z. CURRENT ACCOUNT DEFICIT NARROWS IN JANUARY",
    "body": "New Zealand's current account deficit\nnarrowed to 180 mln N.Z. Dlrs in January from 203 mln, revised\nfrom 207 mln, in December and 305 mln in January 1986, in a\nsmoothed measurement, the Statistics Department said.\n    Unsmoothed figures show a deficit of 162 mln dlrs for\nJanuary against 107 mln, revised from 75 mln for December 1986\nand 575 mln in January 1986.\n    The smoothed series -- adjusted to iron out random\nfluctuations -- shows a widening surplus on merchandise trade\nto 46 mln from a surplus of 33 mln, revised from 43 mln dlrs in\nDecember and a 71 mln deficit in the a year ago period.\n    Exports were 905 mln dlrs against 929 mln, revised from 971\nmln in December and 816 mln a year earlier, while imports fell\nto 858 mln from 895 mln, revised from 928 mln in December and\n888 mln in January 1986.\n    Unadjusted merchandise figures show a surplus of 53 mln\ndlrs vs 141 mln, revised from 203 mln surplus in December 1986\nand a 323 mln deficit a year earlier.\n    The deficit on invisibles on unsmoothed figures eased to\n215 mln dlrs from 248 mln, revised from 277 mln in December and\n252 mln in January 1986.\n    The smoothed deficit on invisibles fell to 226 mln from 237\nmln, revised from 250 mln in December and 234 mln in the year\nago period.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 19:06:58.91",
    "topics": [
      "bop",
      "trade"
    ],
    "places": [
      "new-zealand"
    ],
    "id": "1890"
  },
  {
    "title": "BUTTES GAS AND OIL  FILES BANKRUPTCY PLAN",
    "body": "Buttes Gas and Oil Co said it\nfiled a plan of reorganization in a U.S. Bankruptcy court\nhandling its Chapter 11 bankruptcy case.\n    The company said the plan wll provide for distribution of\ncash, promissory notes and stock among 12 classes of creditors\nand equity interests.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 19:10:21.11",
    "places": [
      "usa"
    ],
    "id": "1891"
  },
  {
    "title": "CHARTS SIGNAL BULLISH BREAKOUT IN DEBT FUTURES",
    "body": "The rally Wednesday in U.S. interest\nrate futures left the Treasury bond contract above the top of a\nthree month trading range which signals a bullish chart\nbreakout, financial analysts said.\n    In addition, sluggish U.S. economic data and little sign\nthat the economy will pick up its pace in the near future may\nbe enough to send bond futures to all-time highs, the analysts\nsaid.\n    \"The market is paying more attention to the weakened state\nof the economy right now,\" said Refco analyst Mike Connery.\n    Connery said the four pct drop in January U.S. factory\norders reinforced sentiment that first quarter economic growth\nwill be slow.\n    Connery and other analysts noted that talk of a cut in the\nLombard rate after sluggish West German industrial production\nfigures also provided some support.\n    \"The domestic economies of the major trading partners of\nthe U.S. may deteriorate to such an extent that they will be\nforced to ease,\" thus paving the way for a more accomodative\nU.S. credit policy, added John Michael, analyst at First\nOptions of Chicago.\n    Michael pointed out, however, that trimming the U.S. trade\ndeficit -- the ultimate aim of the recent meeting of major\nindustrial countries -- may not necessarily aid bond prices.\n    \"The surplus (for exporters to the U.S.) is bullish for\nbonds because they (exporters) have a lot of dollars. Rather\nthan translate those into their own currencies and suffer\nexchange rate risk, they buy dollar-denominated instruments,\"\nMichael said.\n    Indeed, futures traders with cash bond connections said\nsome of the late strength in the bond market resulted from\nbuying by Japanese interests.\n    But the analysts said the heavy buying in futures occurred\nafter the June bond broke above stiff resistance at 101-2/32.\n    \"The breakout is pretty important,\" said chartist Leslie\nKeefe of Technical Data Corp of Boston. \"Not only did bonds\nclose above recent highs but they were also above the sideways\npattern we've been in for the last three months.\"\n    Also positive on a technical basis was the fact that the\nJune bond contract held chart support early near 100-4/32, and\nthat the rally occurred on heavy volume, Keefe said.\n    Keefe said the next level of significant chart resistance\nwill be at 101-24/32 to 101-28/32. Furthermore, \"we still have\nthe April (1986) highs to contend with,\" which in the nearby\ncontract is 105-15/32.\n    Michael said the breakout projects gains to 103 in June\nT-bonds and \"there is an outside chance to reach 106.\"\n    Keefe warned, however, that confirmation also is needed\nfrom other technical indicators such as relative strength\nindexes and short-term momentum indicators.\n    \"Without them, sustained strength is in question,\" Keefe\nsaid.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 19:26:04.90",
    "places": [
      "usa"
    ],
    "id": "1892"
  },
  {
    "title": "N.Z. WRITES OFF MEAT PRICE STABILISATION DEBT",
    "body": "New Zealand agreed with the Meat\nProducers Board to write off 1.03 billion N.Z. Dlrs of debt\nincurred on behalf of farmers under the Meat Price\nStabilisation Scheme, Finance Minister Roger Douglas said.\n    Douglas and Agriculture Minister Colin Moyle said in a\njoint statement the agreement concludes one of the major\nrefinancing arrangements announced in the July 1986 budget,\nwhich removed subsidies from the farming sector.\n    The write-off applies to debt occurring prior to October\n1985, when stabilisation payments for sheepmeat ceased under an\nindustry restructuring which allowed private marketing.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 20:56:47.86",
    "places": [
      "new-zealand"
    ],
    "id": "1893"
  },
  {
    "title": "PRESIDENT REAGAN SAYS ARMS FOR HOSTAGES WAS MISTAKE, ACCEPTS RESPONSIBILITY\n",
    "date": " 4-MAR-1987 21:02:24.81",
    "id": "1894"
  },
  {
    "title": "REAGAN ADMITS IRAN ARMS OPERATION A MISTAKE",
    "body": "President Reagan, fighting to regain\npublic confidence in the wake of the Iran arms scandal,\nadmitted tonight that the clandestine operation wound up as an\narms-for-hostages deal and, \"It was a mistake.\"\n    \"When it came to managing the NSC (National Security\nCouncil) staff, let's face it, my style didn't match its\nprevious track record,\" Reagan said in a television address to\nthe American people.\n    \"I have already begun correcting this,\" he added in his\nprepared remarks.\n    Reagan's speech, widely regarded as critical to his hopes\nof repairing his presidency, was his first detailed response to\nlast week's scorching Tower commission report on the secret\nsale of arms to Iran and diversion of profits to U.S.-backed\ncontra rebels in Nicaragua.\n    Reagan said he had been silent on the scandal while he\nwaited for the truth to come out and admitted, \"I've paid a\nprice for my silence in terms of your trust and confidence.\"\n    He said that a few months ago, he told the American people\nhe did not trade arms for hostages in the 18-month covert\noperation.\n    \"My heart and my best intentions still tell me that is true,\nbut the facts and the evidence tell me it is not,\" Reagan said.\n    \"There are reasons why it happened, but no excuses. It was a\nmistake,\" he said.\n    Reagan again said that the original Iran initiative was to\ndevelop relations with those who might assume leadership in a\npost-Khomeini government.\n    \"It's clear from the Board's report however that I let my\npersonal concern for the hostages spill over into the\ngeo-political strategy of reaching out to Iran.\n    \"I asked so many questions about the hostages' welfare that\nI didn't ask enough about the specifics of the total Iran plan,\"\nhe said.\n    The commission, headed by former Republican Sen. John\nTower, said Reagan's \"intense compassion\" for Americans being\nheld by pro-Iranian groups in Lebanon had resulted in an\nunprofessional and unsatisfactory policy.\n    It portrayed 76-year old Reagan as a man who did not know\nor care much about the wide-ranging, probably illegal\nactivities of his National Security Council (NSC) staff, which\nhatched the operation.\n    Reagan said he endorsed all of the Tower commission's\nrecommendations about the running of the NSC, adding, \"In fact,\nI'm going beyond its recommendations, so as to put the house in\neven better order.\"\n    He noted that he had appointed former Senate Republican\nleader Howard Baker as his new chief of staff and said he hoped\nBaker would help him forge a new partnership with Congress,\n\"especially on foreign and national security policies.\"\n    He said his new national security adviser, Frank Carlucci,\nwas rebuilding the national security staff \"with proper\nmanagement discipline.\"\n    Reagan said that almost half the NSC professional staff now\nconsisted of new people.\n    He said that FBI Director William Webster, his new nominee\nto head the CIA, \"understands the meaning of 'rule of law'\".\n    Reagan also announced that Tower had agreed to serve as a\nmember of his Foreign Intelligence Advisory Board, which acts\nas a watchdog on the nation's covert activities.\n    But he said that he had issued a directive barring the NSC\nstaff itself from undertaking covert operations -- \"No ifs,\nands, or buts.\"\n    Tonight's speech was a far cry from Reagan's initial strong\ndefense of his Iran policy.\n    In a televised speech last November 13, Reagan called\ncharges that he ransomed hostages and undercut the U.S. war on\nterrorism \"utterly false.\"\n    As recently as two months ago in his State of the Union\nspeech, Reagan said that \"serious mistakes were made\" but\ndefended the basic policy as one that had worthy goals.\n    By contrast, tonight's speech had an apologetic tone that\nwas a marked departure from Reagan's usual upbeat, confident\ndemeanor.\n    He said he took full responsibility for his own actions \"and\nfor those of my administration.\"\n    \"As angry as I may be about activities undertaken without my\nknowledge, I am still accountable for those activities. As\ndisappointed as I may be in some who served me, I am still the\none who must answer to the American people for this behavior,\"\nReagan said.\n    Reagan said the message that the nation should move on had\ncome from Republicans and Democrats in Congress, from allies\naround the world -- \"and if we're reading the signals right,\neven from the Soviets.\"\n    His remark seemed to be a reference to a new Soviet\nwillingness to reach an agreement on eliminating medium-range\nnuclear missiles in Europe.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 21:03:14.20",
    "places": [
      "usa",
      "iran",
      "nicaragua"
    ],
    "id": "1895"
  },
  {
    "title": "REAGAN SAYS IRAN POLICY RECORDS IMPROPERLY KEPT",
    "body": "President Reagan said improper\nrecord keeping of meetings and decisions made on the Iran arms\ninitiative led to his failure to recollect whether he approved\narms shipments by Israel before or after the fact.\n    In a televised address to the American people Reagan said\nhe is still upset that no-one kept proper records -- a\ncomplaint made by the Tower commission.\n    The arms shipment was made in August of 1985 by Israel.\n    \"I did approve it; I just can't specifically say when,\"\nReagan said.\n    Reagan added: \"Rest assured, there's plenty of\nrecord-keeping now going on at 1600 Pennsylvania Avenue (the\nWhite House).\"\n    The timing of Reagan's approval of the Israeli shipment is\nimportant because it could determine whether the sale violated\nvarious laws, including the Arms Export Control Act.\n Reuter\n\u0003",
    "date": " 4-MAR-1987 21:07:54.27",
    "places": [
      "usa",
      "iran",
      "israel"
    ],
    "id": "1896"
  },
  {
    "title": "REAGAN'S REMARKS HELP GOLD TO RECOVER IN HONG KONG",
    "body": "Gold rose by about 50 U.S. Cents an\nounce, following a statement by President Ronald Reagan that\nthe arms-for-hostages deal with Iran \"was a mistake,\" dealers\nsaid.\n    Bullion rose to 409.40/90 dlrs from an initial low of\n408.90/409.40. This compares with the opening of 409.00/50 and\nNew York's close of 410.00/50.\n    Dealers noted mild short-covering in the metal after some\ninitial selling by local investors. Trading was fairly quiet\nthis morning partly owed to the slow U.S. Dollar activities,\nthey added.\n    However, Reagan's remarks had only a short-lived bullish\nimpact on the gold price, which is now stabilising at 409.10/60\ndlrs, dealers said.\n    On the local market, the metal traded in a narrow range of\n3,800 and 3,805 H.K. Dlrs a tael against yesterday's 3,778\nclose.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 21:18:04.24",
    "topics": [
      "gold"
    ],
    "places": [
      "hong-kong"
    ],
    "id": "1897"
  },
  {
    "title": "TAIWAN ISSUES MORE CDS TO CURB MONEY SUPPLY GROWTH",
    "body": "The central bank has issued 7.08 billion\ndlrs worth of certificates of deposit (CDs), bringing the value\nof CD issues so far this year to 93.29 billion, a bank\nspokesman told Reuters.\n    The new CDs, with maturities of six months, one year and\ntwo years, carry interest rates ranging from 3.9 to 5.15 pct.\n    The issues are designed to help curb the growth of the M-1B\nmoney supply which has expanded along with Taiwan's foreign\nexchange reserves, the spokesman said. The reserves reached a\nrecord high of more than 51 billion U.S. Dlrs Wednesday.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 21:38:42.91",
    "topics": [
      "money-supply"
    ],
    "places": [
      "taiwan"
    ],
    "id": "1898"
  },
  {
    "title": "IRAN REPORTS OFFENSIVE AS IRAQ THREATENS AIR RAIDS",
    "body": "Iranian troops are fighting on two\nwidely separated fronts in a new offensive in the mountains of\nKurdistan in northern Iraq, Tehran's IRNA news agency said.\n    Baghdad war communiques made no mention of fresh fighting\non northern or southern sectors, but a military spokesman\nthreatened a resumption of air raids on Iranian towns.\n    IRNA, monitored by the BBC in London, said Iran had seized\nseveral strategic heights in the northern assault, which\nstarted on Tuesday. It said at least 2,000 Iraqi troops had\nbeen killed, wounded or captured. The offensive is in the Haj\nOmran area of Kurdistan, scene of fierce fighting in 1983.\n    Tehran radio reported last night that Iranian forces were\nin control of four mountain areas, bringing several Iraqi towns\nwith troop concentrations within artillery range.\n    In the south, IRNA said, Iranian forces captured several\nIraqi defence posts east of Iraq's second city, Basra, in a\ndrive north along the Shatt al-Arab waterway.\n    Today is the end of a two-week-long Iraqi moratorium on air\nraids declared on condition that Iran stop attacking Iraqi\nterritory and shelling its towns.\n    Iraq's war spokesman said Iran had kept up its attacks and\nhad made \"boasts of illusory victories.\"\n REUTER\n\u0003",
    "date": " 4-MAR-1987 21:49:41.09",
    "places": [
      "bahrain",
      "iran",
      "iraq"
    ],
    "id": "1899"
  },
  {
    "title": "ITALIAN PRESIDENT FACES PROBLEMS CHOOSING LEADER",
    "body": "President Francesco Cossiga meets political\nleaders to discuss how to form a new government following the\nresignation of Prime Minister Bettino Craxi.\n    Craxi's Socialist Party has said it will not serve under\nForeign Minister Giulio Andreotti, who has been prime minister\nfive times previously and whom the majority Christian\nDemocratic Party has said it wants to take on the job again.\n    The Socialist Party, the second biggest in the outgoing\nfive-party coalition, said it would accept only Ciriaco De\nMita, Christian Democratic Party secretary, or the party's\npresident, Arnaldo Forlani, for the job of prime minister.\n    Political sources said talks are likely to be difficult and\ncould take several days due to rivalry between the two leading\nparties. In Craxi's 3-1/2 years as prime minister, the\nChristian Democrats have become increasingly irritated at being\ndenied the prime minister's job. The sources said early general\nelections are likely unless agreement can be reached.\n    Cossiga is due to meet former presidents before holding\ntalks with party leaders, including the opposition Communists\nand the junior coalition members -- Republicans, Liberals and\nSocial Democrats.  After the consultations, Cossiga will name a\nprime minister-designate who will try to form a government.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 21:59:28.87",
    "places": [
      "italy"
    ],
    "id": "1900"
  },
  {
    "title": "UNUSUALLY DRY WEATHER AFFECTS CHINA'S AGRICULTURE",
    "body": "Abnormally warm and dry weather over most\nparts of China is seriously affecting crops, the New China News\nAgency said.\n    It said the drought has made rice planting difficult in\neight provinces, including Guangxi, Sichuan and Hunan. Plant\ndiseases and insect pests have increased in wheat-producing\nareas, it said.\n    The agency said some areas of Guangxi, Hubei, Shanxi and\nother provinces have been suffering a drought for more than\nseven months.\n    The agency said the dry weather had reduced the amount of\nwater stored by more than 20 pct compared with last March,\nlowered the water level of many rivers, reduced hydroelectric\npower supplies and caused water shortages for industry and\nconsumers.\n    The upper reaches of the Yangtze are at their lowest levels\nin a century, causing many ships to run aground and making\nharbour manoeuvres difficult, it said.\n    The drought has also increased the number of forest fires.\nMore than 1,000 fires in southern China had destroyed 13,340\nhectares of forest by mid-February, it said.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 22:05:40.43",
    "topics": [
      "grain",
      "wheat",
      "ship"
    ],
    "places": [
      "china"
    ],
    "id": "1901"
  },
  {
    "title": "TAIWAN SHIPBUILDER LOOKS FOR JAPANESE VENTURES",
    "body": "Taiwan's state-owned China Shipbuilding\nCorp (CSBC) plans to seek joint production agreements with\nJapan and further diversify into ship repairing to try to trim\nits debts, chairman Louis Lo said.\n    He told Reuters in an interview that CSBC's first joint\nproduction venture, to build two hulls for , was a success. Talks on similar projects have been\nheld with other Japanese firms, including Mitsubishi Heavy\nIndustries Co Ltd  and Ishikawajima-Harima Heavy\nIndustries Co Ltd , he said.\n    Lo said CSBC delivered the hulls of two 2,200-TEU (twenty\nfoot equivalent unit) container ships this year to Onomichi,\nwhich would complete production.\n    \"We expect the successful cooperation between us and\nOnomichi will pave the way for further cooperation with other\nJapanese shipbuilders in the future,\" Lo said.\n    He said Japanese firms would gain from the lower cost of\nshipbuilding in Taiwan while CSBC would benefit from Japanese\ntechnology and marketing. This would pose a challenge to\ncompetitors in Europe and South Korea.\n    Lo said CSBC has made losses of about 100 mln U.S. Dlrs\nsince beginning operations in 1975. Its total debt now stands\nat about 500 mln dlrs, with annual interest payments of nearly\nthree mln dlrs.\n    But he said the company, which is Taiwan's largest\nshipbuilder, still has full government support and had begun\ndiversifying into ship repairing and manufacture of pipes and\nother machinery.\n    \"We hope we can survive and prosper through diversification,\"\nhe said.\n    Lo said income from ship repairing almost doubled to 20 mln\nU.S. Dlrs in the year ended June 1986 compared with the\nprevious financial year. He estimated income would rise to more\nthan 25 mln dlrs in 1986/87.\n    CSBC has orders to build 10 ships totalling 460,000 dead\nweight tons (dwt) this financial year, compared with 11 ships\nof 462,000 dwt in 1985/86, he said.\n    Lo said the prospects for shipbuilding were gloomy at least\nuntil 1991 due to overtonnage, but the outlook for ship\nrepairing was bright.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 22:24:23.31",
    "topics": [
      "ship"
    ],
    "places": [
      "taiwan",
      "japan"
    ],
    "id": "1902"
  },
  {
    "title": "HYUNDAI MOTOR'S CAR EXPORTS RISE SHARPLY",
    "body": " exported 49,822 cars in\nthe first two months of 1987, up from 37,272 in the same period\nof last year, mainly due to booming sales in the U.S. And\nCanada, company officials said.\n    They told reporters Hyundai Motor expects to export 450,000\ncars in 1987, including 250,000 to the U.S., After a record\ntotal last year of 300,200, in large part due to 168,900\ninitial U.S. Sales of the Pony Excel sub-compact.\n    They said the company plans to lift annual output capacity\nto 750,000 cars by end-year from 600,000 now. Net profit hit a\nrecord 38.3 billion won in 1986 from 28.8 billion in 1985.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 22:41:47.68",
    "places": [
      "south-korea"
    ],
    "id": "1903"
  },
  {
    "title": "CREDITORS SEEK SWIFT RESCUE PACKAGE FOR JAPAN LINE",
    "body": "A group of creditor banks hopes to work\nout a rescue package for Japan Line Ltd , one of the\nworld's largest tanker operators, by the end of Japan's\nbusiness year on March 31, a spokesman for the Industrial Bank\nof Japan Ltd  (IBJ) said.\n    Japan Line's cumulative debt was 68.98 billion yen at the\nend of September, which exceeded shareholders' equities and\nreserves totalling 63.40 billion.\n    In December, Japan Line asked banks to shelve repayment of\nabout 124 billion yen in outstanding loans and about 153\nbillion in loans to its subsidiaries.\n    Japan Line said then that the yen's steep rise and the\nworld shipping recession had hit the company hard.\n    The Japanese daily Asahi Shimbun said today that IBJ and\nthree other banks plan to abandon a total of 16 billion yen in\nloans to Japan Line and a group of creditor banks plans to buy\nseven billion yen of new Japan Line shares.\n    The spokesman for IBJ, Japan Line's largest creditor, said\nthe package may write off part of the outstanding loans and\nwill be worked out before long.\n    Commenting on the article, he said the details of the\npackage have not yet been settled.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 22:50:14.21",
    "topics": [
      "ship",
      "crude"
    ],
    "places": [
      "japan"
    ],
    "id": "1904"
  },
  {
    "title": "ARGENTINA SEEKS NEW DEBT DEADLINES, OFFICIAL SAYS",
    "body": "Argentina will tell its creditors\nit needs an extension of deadlines for payment of capital and\ninterest on its 50 billion dlr foreign debt, Industry and\nForeign Trade Secretary Roberto Lavagna told reporters.\n    \"We, the developing countries, are going to insist on the\napplication of contingency clauses, to extend deadlines for the\npayment of capital as well as interest,\" he said.\n    He said this could bring about what he called a possible\nautomatic capitalisation of those parts of debt interest that\ncould not be paid and even the elimination of a portion of the\ndebt.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 23:05:47.66",
    "places": [
      "argentina"
    ],
    "id": "1905"
  },
  {
    "title": "ECONOMIC SPOTLIGHT - INDONESIA'S ECONOMY",
    "body": "Indonesia heads for general elections in\nsix weeks' time with its economy in the worst shape in 20\nyears, economists and officials said.\n    The government expects no spillover of \"people power\" from\nthe neighbouring Philippines to unsettle the 20-year rule of\nPresident Suharto, victory for whose ruling Golkar party in the\ncoming parliamentary elections is assured.\n    However, Western diplomats said it is the country's\ndeteriorating economic position that is the main threat to its\nstability.\n    Last year's collapse in oil prices dealt a heavy blow to\nIndonesia, halving its revenue from oil and gas exports to 6.5\nbillion dlrs last year from 12.4 billion in 1985. Oil and gas\naccount for 70 pct of export income.\n    The result is that in the run-up to April 23 elections,\nSuharto, far from wooing his 168 mln countrymen with pay\nincreases or tax cuts, is busy slashing budget spending.\n    The government has also recently increased transport fares\nand frozen the pay of the civil service and the army for the\nsecond year running, despite inflation now estimated at 8.8\npct.\n    The current account deficit rose to 4.09 billion dlrs in\n1986 from 1.8 billion in 1985, while the debt service ratio\nwidened to 33.2 pct for 1987 from 25 pct in 1986.\n    Foreign debt repayments of 4.6 billion dlrs account for\nalmost a third of the 1987/88 budget.\n    A recent U.S. Embassy report on the economy said 1986 gross\ndomestic product growth was the lowest since the mid-1960s when\nSuharto came to power. Western economists said GDP registered\nnil growth or contracted last year after 1.9 pct growth in\n1985, and predicted only a one pct rise this year.\n    In its efforts to return to growth seen in the oil-boom\nyears of the 1970s when the economy grew an average seven pct,\nthe government is now relying more on foreign borrowings.\n    Indonesia has asked foreign governments to finance its\nshare of new projects being built with overseas money, because\nit cannot afford even to meet local costs.\n    In the last three months Indonesia has taken out new loans\ntotalling 1.55 billion dlrs, on top of its external debt of 37\nbillion dlrs. Western bankers said more will be needed, and the\ncountry now ranks sixth among Third World debtors.\n    A 350 mln dlr commercial loan signed in Tokyo in December\nwas followed in the first week of February with a 300 mln dlr\nloan from the World Bank to support the balance of payments.\n    Last month, Japan's Export-Import Bank agreed a 900 mln dlr\nloan to meet Indonesia's share of 21 World Bank projects which\nwould otherwise have been scrapped or postponed. More loans are\non the way, including two more from the World Bank worth a\ntotal 300 mln dlrs for roads and irrigation.\n    U.S. Ambassador Paul Wolfowitz said in a recent speech that\neconomic growth remains the key to preserving Indonesia's\nfundamental stability.\n    The largest Moslem nation in the world, Indonesia has so\nfar avoided some of the more extreme paths of other Moslem\ncountries. But the World Bank has warned that mounting\nunemployment could start causing severe social strains unless\nit is tackled.\n    It said in its annual report on Indonesia last June that\nunless economic growth is revived, unemployment could reach\nwhat it termed \"unacceptable levels.\"\n    Unemployment was officially put at 4.8 pct at the end of\nlast year, but those considered underemployed number around 35\npct.\n    What path to take appears to be a matter of some dispute\nwithin Suharto's government, with his Western-trained\ntechnocrats advocating more of the classic remedies supported\nby the international financial community.\n    But another group supports a protected economy, with more\nimport substitution, the U.S. Embassy report said.\n    The government devalued the rupiah by 31 pct against the\ndollar last September to help exports and curb imports, and is\ncurrently working on a series of measures to further encourage\nforeign investment and boost exports outside the oil sector.\n    The direction Suharto takes could affect Indonesia's\nability to raise new loans in the future, Western bankers say.\n    So far, despite three packages of economic measures over\nthe past nine months, he has not touched key monopolies that\nare linked to businesses controlled either by his family or by\nbusiness associates, diplomats and bankers say.\n    Diplomats and investors are now looking for action on\nmonopolies and the loss-making state sector as signs that\nSuharto is serious about tackling the country's problems.\n REUTER\n\u0003",
    "date": " 4-MAR-1987 23:27:47.90",
    "places": [
      "indonesia"
    ],
    "id": "1906"
  },
  {
    "title": "AUSTRALIAN WHEAT EXPORTS RISE IN FEBRUARY",
    "body": "Australian wheat shipments rose to\n1.33 mln tonnes in February from 1.01 mln in January, an\nAustralian Wheat Board official said.\n    February's shipments were down on the 1.54 mln tonnes\nshipped in February 1986.\n    Cumulative shipments for the first five months of the\nOctober/September wheat year were 6.12 mln tonnes, as against\n6.54 mln a year earlier, the official said.\n    The major destinations in February were: China (419,196\ntonnes), Egypt (301,909), Iraq (142,055), Japan (110,261),\nSouth Korea (100,847) and the Soviet Union (100,056 tonnes).\n REUTER\n\u0003",
    "date": " 5-MAR-1987 00:05:29.46",
    "topics": [
      "grain",
      "wheat"
    ],
    "places": [
      "australia",
      "china",
      "egypt",
      "iraq",
      "japan",
      "south-korea",
      "ussr"
    ],
    "id": "1907"
  },
  {
    "title": "REAGAN SPEECH WINS MIXED REACTION FROM CONGRESS",
    "body": "Republicans in Congress hailed\nPresident Reagan's speech on the Iran arms scandal as candid\nand constructive while Democrats, who control both houses, said\nReagan would now have to match his words with action.\n    Senate Majority Leader Robert Byrd (Democrat) of West\nVirginia said in a television interview he was heartened that\nReagan had acknowledged some of his mistakes. \"But one speech is\nnot enough to rebuild trust.\"\n    \"President Reagan told the American people what they needed\nto hear, that mistakes were made and he made them,\" Senate\nRepublican Leader Robert Dole of Kansas said.\n    Reagan, responding to the Tower Commission report\ncriticising his role in the Iran arms scandal, said for the\nfirst time the Iran arms policy, and not just its\nimplementation, was a mistake and accepted responsibility for\nthe diversion of profits to the Nicaraguan contra rebels.\n    Senator Bill Bradley (Democrat) of New Jersey said the\nadministration would \"remain under a cloud\" until several key\nfigures in the scandal, including fired National Security\nCouncil (NSC) aide Oliver North and his boss Adm. John\nPoindexter, have told \"the whole truth.\"\n    Republicans and Democrats praised the appointment on Friday\nof former Senate Republican leader Howard Baker to replace\nDonald Regan as chief of staff, and the replacement of\nPoindexter with Frank Carlucci to head the NSC.\n    Assistant House Republican Leader Trent Lott of\nMississippi, said he believed Reagan took the right measure in\nadmitting mistakes without apologising for them.\n    Some House Democrats, including Speaker James Wright of\nTexas, said earlier they would delay their reaction until\ntomorrow in order to study the speech overnight and assess its\nimpact.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 00:11:33.94",
    "places": [
      "usa",
      "iran"
    ],
    "id": "1908"
  },
  {
    "title": "OPEC STICKING FIRM ON OFFICIAL PRICES - SUBROTO",
    "body": "OPEC countries are all sticking firmly to\nofficial crude oil prices but the volatility of spot prices is\nlikely to continue into the third quarter, Indonesian Minister\nof Mines and Energy Subroto told Reuters.\n    Subroto, attending a Pacific Energy Cooperation conference,\nblamed recent rapid spot price changes on unbalanced supply and\ndemand. \"If we stick to the production limitation, the third\nquarter will be in better balance.\"\n    He said the market is in a period of transition while the\nimpact of OPEC's December agreement to cut output and fix\nprices at an average 18 dlrs a barrel is worked through.\n    Asked whether OPEC members of the Gulf Cooperation Council\n(GCC) had any concrete proposals to help Qatar sell its crude\noil in the face of strong resistance to its official prices,\nSubroto said: \"Apparently they have taken care of that.\"\n    \"They (the GCC) meet very often among themselves. I think\nthey'll help each other,\" he said.\n    Subroto said that as he was not a member of OPEC's Price\nDifferentials Committee he did not know why the meeting had\nbeen postponed from its scheduled April 2 date.\n    \"Maybe they find it is better not to have the meeting\nbecause ... Everyone is sticking to official prices,\" he said.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 00:24:14.44",
    "topics": [
      "crude"
    ],
    "organisations": [
      "opec"
    ],
    "places": [
      "japan",
      "indonesia",
      "qatar"
    ],
    "id": "1909"
  },
  {
    "title": "THAI COFFEE EXPORTS RISE IN 1986",
    "body": "Thai coffee exports rose to 22,068\ntonnes in 1986 from 20,430 a year earlier, the Customs\nDepartment said.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 00:41:49.90",
    "topics": [
      "coffee"
    ],
    "places": [
      "thailand"
    ],
    "id": "1910"
  },
  {
    "title": "ECONOMIC SPOTLIGHT - EUROYEN BOND ISSUES INCREASE",
    "body": "The easing of rules governing overseas use\nof the yen has caused an explosion of Euroyen bond activity but\nhas failed to turn the yen into a truly international currency,\nbond managers and traders said.\n    Although yen bonds now rank second only to dollar issues in\nthe Eurobond market, few foreigners are interested in keeping\nthe yen they borrow and no one wants the yen bonds but the\nJapanese, they said. This lack of real yen demand through the\nfreer Euroyen market is undermining the 1984 U.S. And Japanese\naccord to internationalise the yen, they said.\n    The borrowers want to take advantage of low Japanese\ninterest rates but have no need for yen. They arrange primarily\nwith Japanese banks to exchange yen funds into other\ncurrencies, mainly dollars, bond managers said. More than 85\npct of Euroyen bond issues are swap driven, they added.\n    \"The borrowers don't care which currency they use. They are\nonly after attractive money,\" one bond trader said.\n    Issues doubled to more than 150 in 1986 from the previous\nyear, boosting Euroyen offerings to more than nine pct of the\ntotal Eurobond market, Koichi Kimura, managing director of\nDaiwa Securities Co Ltd, said recently.\n    Traders said some of the activity stems from battles among\nJapanese and foreign securities companies and banks for the\nprestige of placing a larger share of issues. Many even resort\nto \"harakiri\" swaps, those with unprofitable pricing.\n    But the fever continues and the number of offerings could\ndouble again in 1987, said Naoki Yokoyama, manager of Nikko\nSecurities Co Ltd's international capital markets operation.\n    The Euroyen bonds, once issued, are mostly picked up by\nJapanese trust banks, one trader said. After a 90 day waiting\nperiod the bonds flow back to Japan where investor appetite is\nstrong, he added.\n    Foreign investors are reluctant to invest in yen when more\nattractive yields are offered on dollar and other currency\ninvestments, traders said.\n    \"Even aggressive foreign investors have stopped investing\n(in yen),\" said Masaki Shimazu, manager of Daiwa's bond\ndepartment.\n    While few foreigners are interested in the secondary\nmarket, Japanese commercial banks, regional banks, life\ninsurers and other financial institutions are eager to buy the\nbonds and await their flow back to Japan since they offer\nlittle currency risk, traders said.\n    The Finance Ministry last April shortened the waiting\nperiod before issues could flow back to Japan to 90 days from\n180. A ministry official said it verified through sampling that\nreflow was fairly small.\n    \"We believe the Euroyen bond should remain mainly in the\nEuroyen market,\" he said.\n    One trader said that although demand from Japanese\ninvestors is heavy, it may prove to be only short-term. He said\nmany investors plan to sell their bonds if Japanese or U.S.\nInterest rates decline further.\n    To encourage further international use of the yen, the\nministry is considering allowing the issue of Euroyen\ncommercial paper, the official said, adding that it is studying\ndemand from potential borrowers.\n    Securities company sources believe the ministry will permit\nnon-residents to issue Euroyen commercial paper within the next\nfew months. But they expect it to continue to ban domestic\nparticipation in the market for some time to come. Japanese\nbanks object to the short-term paper market which they see\nencroaching on their business territory.\n    Traders said Euroyen commercial paper could spur more\ndemand overseas for the yen by allowing opportunities to shift\ninto shorter-term securities if need be.\n    \"Commercial paper might encourage fewer swaps,\" one bond\nmanager said. If more financial instruments were available,\nthere might be more trades in yen, he added.\n    Euroyen bonds must now carry a five-year maturity, though\nsome recent issues which are callable in three years work as if\nthey had shorter maturities, traders said.\n    The ministry is expected to allow four-year Euroyen bond\nmaturities within a few months.\n    One yen bond manager said Japanese financial authorities\nare giving up a lot of their control in liberalising the rules\ngoverning international transactions of the yen. But freer use\nof the yen could encourage more trade settlements in the\nJapanese currency, he said. \"If exporters or importers can raise\nfunds in yen, they will be more willing to agree to using the\nJapanese yen as a settlement currency,\" he added.\n    The Finance Ministry official said the government must\nconstantly consider ways to improve markets for the benefit of\nborrowers and investors. \"No major market can keep its status\nwithout change,\" he said.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 01:54:56.80",
    "places": [
      "japan",
      "usa"
    ],
    "id": "1911"
  },
  {
    "title": "SOUTH KOREAN MONEY SUPPLY RISES IN FEBRUARY",
    "body": "South Korea's M-2 money supply rose 0.39\npct to 33,992.0 billion won in February from 33,858.4 billion\nin January, when it fell a revised 0.04 pct from December,\nprovisional Bank of Korea figures show.\n    The February figure was up 18.89 pct from a year earlier.\n    M-1 money supply rose 4.13 pct to 8,492.1 billion won in\nFebruary from January, when it fell 7.82 pct from December. The\nFebruary figure marked a year-on-year rise of 18.45 pct.\n    The bank previously said M-2 fell 0.06 pct in January.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 02:14:48.70",
    "topics": [
      "money-supply"
    ],
    "places": [
      "south-korea"
    ],
    "id": "1912"
  },
  {
    "title": "PAKISTAN'S FOREIGN EXCHANGE RESERVES FALL",
    "body": "Pakistan's foreign exchange reserves\nfell to 8.43 billion rupees in February from 8.96 billion in\nJanuary, compared with 12.97 billion in February 1986, the\nState Bank of Pakistan said.\n    The bank gave no reason for the fall but local bankers said\nbig import bills had affected the reserves.\n    The Federal Bureau of Statistics has not yet released last\nmonth's import and export figures.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 02:26:10.77",
    "topics": [
      "reserves"
    ],
    "places": [
      "pakistan"
    ],
    "id": "1913"
  },
  {
    "title": "AUSTRIA DECIDES EARLY REDEMPTION OF SAMURAI BOND",
    "body": "Austria has decided to redeem six years\nearly a 20 billion yen, 12-year, 8.5 pct samurai bond due on\nAugust 18, 1993, Daiwa Securities Co Ltd said as lead manager.\n    It will redeem 18.4 billion yen at 103.00 and the rest at\npar this August 18 under an annual redemption obligation,\nprobably because of declining yen interest rates, Daiwa said.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 02:27:29.42",
    "places": [
      "japan",
      "austria"
    ],
    "id": "1914"
  },
  {
    "title": "THAILAND REDUCES MAIN RICE CROP PROJECTION",
    "body": "Thailand's main paddy crop is expected\nto fall to 15.4 mln tonnes in the 1986/87 (Nov/Oct) season from\na previous 15.68 mln estimate in November and an actual 17.35\nmln a year ago, the Thai Rice Mills Association said.\n    It said a joint field survey late last month by the\nassociation, the Commerce Ministry and the Bank of Thailand\nindicated that paddy output in Thailand's northeast region is\nlower than expected because of a drought in several provinces.\n    The association said rice growing areas in Nakhon\nRatchasima, Chaiyaphum, Khon Kaen and Mahasarakam were\nespecially affected by low rainfalls in the second half of\n1986.\n    It said last November that the drought reduced total\nnational areas sown with paddy to some 8.25 mln hectares this\nyear, down from 8.84 mln a year ago.\n    The main crop represents about 85 pct of Thailand's paddy\noutput.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 02:38:59.25",
    "topics": [
      "grain",
      "rice"
    ],
    "places": [
      "thailand"
    ],
    "id": "1915"
  },
  {
    "title": "N. ZEALAND MARKETS PREPARE FOR TRADING BANK STRIKE",
    "body": "New Zealand clearing house  said it will know tomorrow what services it will\nbe able to provide during a strike by bank officers against\ntrading banks and DataBank set for March 9 and 10.\n    Trading banks polled by Reuters said their ability to offer\nmoney market services during the strike depends on whether\nDatabank remains open, and whether the banks have enough staff\nto process transactions.\n    A spokesman for the New Zealand Foreign Exchange\nAssociation said dealers would be able to trade during the\nstrike.\n    But the spokesman added that from March 6 to 10 the value\ndate of currency transactions will be March 16.\n    Trading bank spokesmen told Reuters they will try to honour\ntransactions in which an offshore party sought payment on March\n9 or 10, but they could not guarantee settlement.\n    The Futures Exchange said trading members and their clients\nwill be able to continue trading provided they have made\nsuitable financial arrangements.\n    The trading banks affected are the ,\nAustralia and New Zealand Banking Group Ltd , Westpac\nBanking Corp  and .\n REUTER\n\u0003",
    "date": " 5-MAR-1987 02:47:50.01",
    "topics": [
      "money-fx"
    ],
    "places": [
      "new-zealand"
    ],
    "id": "1916"
  },
  {
    "title": "HOECHST GROUP PRE-TAX PROFIT FALLS IN 1986",
    "body": "Hoechst AG  said its group\npre-tax profit in 1986 would be slightly lower than the 3.16\nbillion marks posted in 1985, while parent company pre-tax\nprofits rose slightly from the 1.62 billion in 1985.\n    Group turnover fell slightly to 38 billion marks from 42.72\nbillion in 1985, and parent company turnover fell to around 14\nbillion marks from 15.35 billion, the company said in a\nstatement.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 03:29:57.07",
    "topics": [
      "earn"
    ],
    "places": [
      "west-germany"
    ],
    "id": "1917"
  },
  {
    "title": "BHP TO FLOAT GOLD UNIT WITH ONE-FOR-THREE ISSUE",
    "body": "The Broken Hill Pty Co Ltd \n(BHP) said it plans a renounceable one-for-three issue of\nrights to float a new company,  (BHPGM),\nwhich will hold most of BHP's gold interests.\n    In a statement BHP said the 25-cent par rights would be\npriced at 50 cents for 430 mln of the BHPGM shares on offer.\nBHP will subscribe for the remaining 540 mln shares, or 56 pct\nof issued capital, on the same terms.\n    BHPGM will pay 440 mln dlrs for BHP's gold interests,\nexcluding its stake in Papua New Guinea's \nand those interests held by BHP's .\n    The BHP statement said the issue will be made to\nshareholders registered on March 27. It opens April 4 and\ncloses April 29, and is underwritten by .\nRights will be traded on Australian stock exchanges from March\n23 to April 22, and the new shares will be quoted from June 4.\n    BHP said the new company will be one of Australia's larger\ngold producers, with annual output exceeding 170,000 ounces. It\nsaid there are plans to boost production to 300,000 ounces by\nthe early 1990s. BHPGM's portfolio will include several\nAustralian mines -- 30 pct of Telfer, 100 pct of Ora Banda and\nBrowns Creek and 20 pct of the new Boddington development.\n    The statement said BHPGM would also hold BHP's 45 pct stake\nin the Coronation Hill Property in the Northern Territory, and\nits 55 pct stake in a new venture near Gympie, Queensland.\n    BHPGM chairman-designate John Gough said it was a quality\ngold stock.\n    \"The diversity and depth of BHP Gold's portfolio ... Give\nthe company a sound foundation in current gold production and\nan exciting potential for growth,\" he said.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 03:30:04.68",
    "topics": [
      "gold"
    ],
    "places": [
      "australia"
    ],
    "id": "1918"
  },
  {
    "title": "HK BANK EXPECTED TO POST 10 TO 13 PCT PROFIT RISE",
    "body": "The Hongkong and Shanghai Banking Corp\n is likely to show a rise in profit of between 10 and\n13 pct for 1986, reflecting stronger than expected loan growth,\nshare analysts polled by Reuters said.\n    Their estimates of the bank's net earnings for last year\nranged from 2.99 to 3.1 billion H.K. Dlrs. Results will be\nannounced on Tuesday. The 1985 net profit was 2.72 billion.\n    They forecast a final dividend of 29 cents for a total of\n42 cents for the year against 38 cents in 1985, adjusted for a\none-for-five bonus issue.\n    Analysts said they expected the bank to recommend a bonus\nissue this year, probably one for three or one for five.\n    The bank's 61.5 pct subsidiary Hang Seng Bank Ltd \nis to report its 1986 results on Friday.\n    Analysts expect Hang Seng to announce net profit of more\nthan one billion dlrs for the first time, an increase of 10 to\n12 pct.\n    They expect Hang Seng to pay a final dividend of 1.37 dlrs\nfor a total of 1.75 dlrs for the year against 1.60 in 1985.\n    Analysts said that while the use of undisclosed inner\nreserves by banks here makes forecasting very imprecise,\nHongkong Bank benefited from the unexpected strength of the\nHong Kong economy in 1986, when gross domestic product grew by\nnearly nine pct against an initial forecast of 4.5 pct.\n    \"They benefited considerably from the pickup in loan demand,\nas their loan portfolio is well balanced,\" an analyst at Mansion\nHouse Securities (F.E.) Ltd said.\n    Government figures show that total loans and advances rose\nby 13.8 pct in 1986, compared with a 4.5 pct increase in 1985.\n    Loans to finance Hong Kong's visible trade, the mainstay of\nthe local economy, rose by 15.1 pct against a decline of five\npct in 1985.\n    Low interest rates also helped the bank. Interest received\non loans was low, with the prime rate at 6.5 pct at end-1986,\nbut interest paid on savings was two pct. Hongkong Bank and\nHang Seng Bank control half of all deposits in the banking\nsystem, giving them access to a large base of low-cost funds.\n    The strength of the real-estate market was another major\nincome source for the bank group. Loans to finance property\ndevelopment and instalment mortgages rose sharply.\n    \"The Hongkong Bank group is still the leader in mortgage\nbusiness despite tough competition from the Bank of China group\nand other foreign banks,\" one analyst said.\n    The high level of activity on the capital and equities\nmarkets in 1986 contributed to a sharp improvement in Hongkong\nBank subsidiaries Wardley Ltd  and , analysts said. \"Wardley had a tremendous year acting as\nfinancial adviser and underwriter,\" an analyst said.\n    Wardley was underwriter for last year's billion-dlr\nflotation of , of which Hongkong\nBank owned 30 pct at the time.\n    The bank's stake has since been cut to 16.4 pct in return\nfor 1.57 billion dlrs. It also sold its entire 48.8 pct stake\nin , the larger of two\nEnglish-language daily newspapers here, for 1.18 billion dlrs.\n    The proceeds will go to reserves for acquisitions and will\nnot show up in the profit and loss accounts, analysts said.\n    Analysts said the bank had also been helped by a reduced\nneed to write off bad debts. \"The need for provisions was much\nlower than the year before,\" said Tony Measor of Hong Leong\nSecurities Co Ltd. \"Last year's profits should have been 2.8 to\n2.9 billion dlrs if not for the huge provisions.\"\n    Former Hongkong Bank chairman Michael Sandberg said the\nbank wrote off hundreds of millions of dollars against its\nshipping exposure in 1985. Lesley Nickolds of County Securities\nAsia Ltd said she saw no major shipping writeoffs in 1986. She\nforecast profit of 2.99 billion dlrs.\n    The bank's Latin American exposure, mainly through its\n51-pct owned Marine Midland Banks Inc , appears to have\nimproved substantially, analysts said. Marine Midland's 1986\nfourth-quarter loan-loss provisions fell to 44.1 mln U.S. Dlrs\nfrom 89.2 mln a year before. Its 1986 net profit rose to 145\nmln U.S. Dlrs from 125 mln in 1985.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 03:41:48.78",
    "topics": [
      "earn"
    ],
    "places": [
      "hong-kong"
    ],
    "id": "1919"
  },
  {
    "title": "HUGHES TOOL DIRECTORS REJECT MERGER WITH BAKER",
    "body": "The directors of Hughes Tool Co\n said they would recommend to shareholders that they reject\na merger with Baker International Corp  today.\n    Hughes vice-president Ike Kerridge said the recommendation\nwould be put to shareholders at a meeting scheduled for 10 A.M.\nLocal time (1600 GMT) to discuss the proposed merger.\n    Kerridge said the board met yesterday to discuss the merger\nbut decided against it.\n    The Hughes board objected to a U.S. Department of Justice\nrequirement that Baker sell off several specialised\nsubsidiaries in businesses related to oil-drilling.\n    The Hughes board last week indicated that it might cancel\nthe merger because of the Department of Justice requirement.\n    The board of directors of the California-based Baker had\napproved the merger. On February 17 Baker said it had signed an\nagreement to sell one of the subsidiaries.\n    The companies had been given until April 22 to comply with\nthe Justice Department requirement, Kerridge said.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 04:00:18.28",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1920"
  },
  {
    "title": "BANK OF JAPAN TO SELL 500 BILLION IN BILLS",
    "body": "The Bank of Japan will sell tomorrow 500\nbillion yen of financing bills it holds to help absorb a\nprojected money market surplus, money market traders said.\n    Of the total, 300 billion yen will yield 3.9989 pct on the\nsales from money houses to banks and securities houses in\n27-day repurchase agreement, due April 2.\n    The remaining 200 billion yen will yield 3.9994 pct in a\n39-day repurchase pact maturing on April 14, they said.\n    The repurchase agreement yields compare with the 4.0625 pct\none-month commercial bill discount rate today and the 4.50/43\npct rate on one-month certificates of deposit.\n    Tomorrow's surplus in the money market is estimated at 420\nbillion yen, mainly due to payment of national annuities, money\ntraders said. The operation will put the outstanding bill\nsupply at about 1,300 yen.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 04:02:38.79",
    "places": [
      "japan"
    ],
    "id": "1921"
  },
  {
    "title": "MCDONALDS LAUNCHES 75 MLN AUS DLR EUROBOND",
    "body": "McDonalds Corp is raising 75 mln\nAustralian dollars through a 14-5/8 pct bullet eurobond priced\nat 101-1/4 and maturing November 5, 1991, lead manager\nBayerische Vereinsbank AG said.\n    Investors will pay for the bond on May 5, 1987 and the bond\npays annual interest on November 5, beginning in 1988. There\nwill be a 1-3/8 point fee for selling and 5/8 for management\nand underwriting combined. Listing is in Luxembourg.\n    Denominations are 1,000 and 5,000 dlrs.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 04:12:40.22",
    "places": [
      "west-germany"
    ],
    "id": "1922"
  },
  {
    "title": "GUNZE SANGYO SETS 25 MLN SWISS FRANC NOTES ISSUE",
    "body": "Gunze Sangyo Inc of Tokyo is launching a\n25 mln Swiss franc convertible notes issue due May 31, 1992\nwith a coupon indication of 1-5/8 pct, lead manager Swiss\nVolksbank said.\n    Conditions will be set on March 11 and payment date is\nMarch 30.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 04:23:03.99",
    "places": [
      "switzerland"
    ],
    "id": "1923"
  },
  {
    "title": "CANON INC (CANN.T) YEAR ENDED DECMEBER 31",
    "body": "Group shr 18.34 yen vs 58.72\n    Net 10.73 billion yen vs 37.06 billion\n    Pretax 27.76 billion yen vs 84.78 billion\n    Operating 30.06 billion yen vs 88.81 billion\n    Sales 889.22 billion vs 955.78 billion\n    Note - The company attributed the profit fall largely to\nthe yen's appreciation during the period. Domestic sales rose\n0.4 pct to 274.17 billion yen from a year earlier while exports\ndeclined 9.9 pct to 615.04 billion.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 04:34:52.38",
    "topics": [
      "earn"
    ],
    "places": [
      "japan"
    ],
    "id": "1924"
  },
  {
    "title": "OESTERREICHISCHE DRAUKRAFTWERKE SETS SFR BOND",
    "body": "Oesterreichische Draukraftwerke AG of\nKlagenfurt is launching a 100 mln Swiss franc 4-3/4 pct 10-year\nbond priced at 100-1/4 pct, lead manager Swiss Bank Corp said.\n    The issue is guaranteed by the Austrian state.\nSubscriptions close March 20.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 04:36:18.62",
    "places": [
      "switzerland"
    ],
    "id": "1925"
  },
  {
    "title": "NEW CURRENCY PROBLEM SEEN AMONG U.S, EUROPE, JAPAN",
    "body": "The highly visible drama involving the\nyen's sharp rise against the U.S. Dollar is obscuring the fact\nthat the Japanese currency has hardly budged against major\nEuropean currencies, thus creating a new set of exchange rate\ndistortions, Japanese and European research officials said.\n    The officials, looking beneath the rhetoric of statements\nby the Group of Five (G-5) industrial nations, told Reuters the\ncurrency movements of the past two years are also creating a\nfundamentally new world trade picture, which is throwing up new\ntrade tensions and imbalances.\n    Trade figures show that the new currency alignments are\nalready changing the Japan-U.S. Trade axis into a Japan-\nEuropean Community (EC) axis, to the discomfort of Europe.\n    In many ways, not least in terms of rare international\ncooperation, the September, 1985 New York Plaza pact between\nthe U.S., Japan, West Germany, Britain and France to cut down\nthe value of the dollar was a historic one.\n    But it is the underlying peaks and troughs of the major\ncurrency movements which lay bare the real picture, in which\nthe Plaza pact appears as an event of prime importance, but not\nnecessarily central significance, the officials said.\n    The officials said that when the Plaza agreement took\nplace, the dollar was already on its way down. The agreement\nsimply helped it on its way. Senior EC financial expert in\nTokyo Tomas de Hora has watched the movements closely.\n    \"You have to look at the dollar's peak compared with now,\nand that was well before Plaza,\" he said.\n    On February 25, 1985, the dollar peaked against the yen at\n263.15 yen. On September 20, the Friday before Plaza, it was\n242. Since then, despite massive Bank of Japan intervention and\nperiodic market frights about further G-5 concerted action, the\ndollar trend has been down, down, down.\n    Yet the ECU is now around 173.4 yen. The historical cross\nrates for sterling and the mark tell much the same story. The\nEuropean currencies are moving back up against the yen.\n    The close relationship between exchange rates and trade\nflows makes it difficult to see which is driving which, but\nundoubtedly the trade equation between the big three is\nchanging. In 1986, Japanese imports and exports with the EC\nboth grew by around 50 pct in dollar terms, five pct in yen.\nThis gave Japan a 16 billion dlr trade surplus.\n    Last January, Japanese exports to the EC totalled half of\nof sales to the U.S, against about a third in recent years.\n    Trade with the U.S in 1986 rose 23 pct for exports and 12\npct for imports in dollar terms, but fell 13 pct for exports\nand 21 pct for imports in yen terms.\n    \"The basic meaning for Europe is that Japanese firms have a\ntremendous interest in exporting to Europe, where every unit\nsold maximises profits in yen terms, which is what is important\nto them. Suddenly, instead of the U.S., It is Europe that is\nlaying the golden egg,\" said de Hora.\n    The EC is worried. EC business also had a remarkable year\nin Japanese sales, but this can be explained partly due to its\nstart from a small base, compared with total Japan-U.S. Trade.\n    The Japanese think EC firms are now more competitive than\nU.S. Firms, a factor which is aggravating the exchange rate\nimbalance, and which will cause problems.\n    \"This currency alignment between Japan and the EC is\nreflecting the excellent performance of the EC countries. But\ntherefore, Japanese goods may keep their price competitive\nedge,\" said Azusa Hayashi, Director of the First International\nEconomic Affairs Division of the Foreign Ministry. \"If you want\nmy objective view, I don't expect a drastic improvement in our\ntrade imbalance. Last year, we asked for moderation in exports,\nand this year we may have to do so again,\" he said.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 04:38:38.75",
    "topics": [
      "money-fx",
      "dlr",
      "yen"
    ],
    "organisations": [
      "ec"
    ],
    "places": [
      "usa",
      "japan"
    ],
    "id": "1926"
  },
  {
    "title": "HAWKE SEES FOUR BILLION DLR BUDGET DEFICIT",
    "body": "Australian Prime Minister Bob Hawke and\nTreasurer Paul Keating said the government's 1986/87 Budget\ndeficit could hit four billion dlrs against the official\nforecast of 3.5 billion.\n    Hawke told a Sydney radio station the deficit \"may turn out\nat four billion.\" He and Keating last week warned that the\nbudget deficit was running above target and vowed sharp\ndecisions on spending in a May 14 economic statement.\n    A four billion dollar Budget deficit would be in line with\nprivate economists' forecasts and compares with a 1985/86\nshortfall of 5.73 billion dlrs.\n    Hawke said the 1986/87 deficit would be equal to 1.5 pct of\nforecast Gross Domestic Product against five pct when he took\noffice during the 1982/83 year.\n    \"In money terms (the deficit has been reduced) from the 9.6\nbillion dlrs that we inherited ... Down to about 3.6 billion,\nit may turn out at four billion dlrs,\" Hawke said.\n    In a separate interview Keating said: \"The deficit for this\nyear, projected, was 3.5 billion .... It is in fact running ...\nOver four billion and we will be trying to bring that in close\nto target.\"\n REUTER\n\u0003",
    "date": " 5-MAR-1987 04:40:55.15",
    "places": [
      "australia"
    ],
    "id": "1927"
  },
  {
    "title": "COMMONWEALTH BANK OF AUSTRALIA ISSUES NOVEL BOND",
    "body": "The Commonwealth Bank of Australia is\nissuing a novel 100 mln Australian dlr eurobond due April 6,\n1992 paying an initial coupon of 16 pct and priced at 101 pct,\nlead manager Swiss Bank Corporation International said.\n    The coupon will then be re-fixed annually at the one-year\nAustralian Treasury rate. There will also be an investor put\noption annually at par. The selling concession is 3/4 pct while\nmanagement and underwriting combined pays 3/8 pct.\n    The non-callable bond is guaranteed by Australia and will\nbe listed in Luxembourg. It is available in denominations of\n1,000 and 10,000 Australian dlrs and the payment date is April\n6.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 04:45:29.42",
    "places": [
      "uk",
      "australia"
    ],
    "id": "1928"
  },
  {
    "title": "THAI TIN EXPORTS RISE IN JANUARY",
    "body": "Thailand exported 1,816 tonnes of tin\nmetal in January, up from 1,731 in December and 1,330 a year\nago, the Mineral Resources Department said.\n    It said major buyers last month were Singapore, Japan,\nBritain, the Netherlands, Malaysia and the U.S.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 04:49:51.18",
    "topics": [
      "tin"
    ],
    "places": [
      "thailand",
      "singapore",
      "japan",
      "uk",
      "netherlands",
      "malaysia",
      "usa"
    ],
    "id": "1929"
  },
  {
    "title": "CENTRALE DE CREDIT COOPERATIF ISSUE DETAILED",
    "body": "Caisse Centrale de Credit Cooperatif is\nlaunching a privately-placed 1.2 billion franc bond issue in\nthree tranches of 400 mln francs and with maturities of seven,\neight, and ten years respectively, lead-managers Credit\nLyonnais and Banque Francaise de Credit Cooperatif said.\n    Interest on the three variable-rate tranches issued at par\nwill be based on annualised money market rates (TAM) for the\nFebruary preceeding each payment. The settlement date is March\n23 1987.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 04:54:11.42",
    "places": [
      "france"
    ],
    "id": "1930"
  },
  {
    "title": "U.K. MONEY MARKET OFFERED EARLY ASSISTANCE",
    "body": "The Bank of England said it had invited\nan early round of bill offers from the discount houses. The\nBank forecast the shortage in the system today at around 1.15\nbillion stg.\n    Among the main factors affecting liquidity, bills maturing\nin official hands and the take-up of treasury bills will drain\nsome 732 mln stg and exchequer transactions some 245 mln. In\naddition, bankers' balances below target and a rise in note\ncirculation will drain a further 135 mln stg and 30 mln stg\nrespectively.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 04:54:18.56",
    "topics": [
      "money-fx",
      "interest"
    ],
    "places": [
      "uk"
    ],
    "id": "1931"
  },
  {
    "title": "BELGOLUX TRADE MOVES INTO SURPLUS IN 1986",
    "body": "The Belgo-Luxembourg Economic Union\n(BLEU) moved into a narrow trade surplus of 4.7 billion francs\nin 1986 after a 140.4 billion franc deficit in 1985, figures\ngiven by a spokesman for the National Statistics Institute\nshow.\n    He said imports fell last year to 3,061.8 billion francs\nfrom 3,304.1 in 1985 while exports were also lower at 3,066.6\nbillion francs against 3,163.7 billion.\n    In December, the BLEU had an 11.9 billion franc trade\nsurplus after a 10.9 billion franc surplus in November and a\n2.3 billion franc surplus in December 1985.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 04:55:00.87",
    "topics": [
      "trade"
    ],
    "places": [
      "belgium",
      "luxembourg"
    ],
    "id": "1932"
  },
  {
    "title": "SPAIN RAISES BANKS' RESERVE REQUIREMENT",
    "body": "The Bank of Spain said it raised the\nreserve requirement for banks and savings banks to 19 pct of\ndeposits from 18 pct to drain excess liquidity which threatened\nmoney supply and inflation targets.\n    In a statement issued late last night, the central bank\nsaid the measure would take effect from March 13.\n    \"In recent weeks, there has been excess liquidity in the\nSpanish economy which, if not controlled, would threaten the\nmonetary and inflation targets set by the government,\" the\nstatement said.\n    Banking sources said the measure would drain about 200\nbillion pesetas from the system. The maximum reserve\nrequirement allowed by law is 20 pct.\n    The move follows a half-point increase yesterday in the\nBank of Spain's key overnight call money rate, which now stands\nat 13.5 pct. At today's auction, however, the bank left the\nrate unchanged.\n    Spain's principal measure of money supply, the broad-based\nliquid assets in public hands (ALP), grew at annualised rate of\n8.3 pct in January compared with 11.4 pct during the whole of\n1986 and a target of eight pct for 1987.\n    Banking sources said that although the January money supply\nfigures were good, compared with annualised rates of 13.9 pct\nin December and 10.2 pct in January 1986, ALP growth appeared\nto have accelerated in February, raising government concern.\n    Regarding inflation, recent figures have suggested that\nprices were under control.\n    Secretary of State for Trade, Miguel Angel Fernandez\nOrdonez, said this week that the annualised inflation rate for\nFebruary, not yet officially announced, fell to 5.5 pct from\nsix pct in January, compared with inflation of 8.3 pct during\n1986 and a government target of five pct for this year.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 04:55:28.49",
    "topics": [
      "money-supply"
    ],
    "places": [
      "spain"
    ],
    "id": "1933"
  },
  {
    "title": "INDIA AND JAPAN TO DISCUSS IRON ORE PRICES",
    "body": "The state-owned Minerals and Metals\nTrading Corp will send a team to Japan next week to negotiate\nan iron ore export contract for 1987/88 beginning April 1,\ntrade sources said.\n    Japan, the biggest buyer of Indian iron ore with imports of\naround 23 mln tonnes a year, has asked India to reduce prices\nfrom the current average of 18 dlrs a tonne, the sources said.\n    \"Japan has said it may be forced to reduce ore imports from\nIndia next year if New Delhi fails to reduce the price,\" one\nsource said, but declined to give further details.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 04:57:38.89",
    "topics": [
      "iron-steel"
    ],
    "places": [
      "india",
      "japan"
    ],
    "id": "1934"
  },
  {
    "title": "JAPANESE BANKS SEEN AGREEING DEBT RISK SCHEME",
    "body": "Japanese creditor banks are close to a\ndecision to jointly establish an offshore firm to which they\nwill transfer part of their title to possibly unrecoverable\ndebts owed by developing nations, international financial\nsources told Reuters.\n    Details of the deal are likely be decided next week and the\nfirm set up before the end of the month, they said.\n    The scheme is intended to improve financial management at\nthe banks and reduce the risk of problems in the event of debts\nturning bad, the sources said.\n    Last week's announcement by Brazil that it would\nindefinitely suspend interest payments on an estimated 68\nbillion dlrs owed to commercial banks prompted Japanese\ncreditors to finalise the project, the sources said.\n    Major Japanese banks have been considering a plan to avoid\na debt crisis since the start of the year, they said.\n    There are likely to be at least 10 participating banks, and\nperhaps as many as 28, they said.\n    About 30 Japanese commercial banks have outstanding loans\ntotalling over 10 billion dlrs to Brazil, accounting for about\n15 pct of all commercial loans to that country.\n    The most likely venue for the envisaged firm is the\nCaribbean tax haven of the Cayman Islands, the sources said.\n    The idea is to create a pool of funds in the firm with\nparticipating creditor banks holding the firm's stock.\n    The firm will then use the funds to buy from its\nstock-holding banks title to repayments of specified foreign\nloans which are potentially bad, the sources said.\n    The stock-holding banks will draw up a list of such loans.\n    Subject to the scheme would be loans extended to\ndebt-ridden countries such as Mexico and Argentina, they said.\n    The financial sources said interest payments to the firm\nwould not be taxed because of its location. Japanese banks have\nasked the finance ministry to increase tax breaks on loan loss\nreserves, but the ministry has not yet complied.\n    A senior ministry official welcomed the scheme and said it\nmay encourage new lending to developing countries.\n    The ministry instructs banks to establish reserves for up\nto five pct of their loans to 35 financially troubled\ncountries, but it only grants tax breaks on reserves accounting\nfor one pct of the loans.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 05:02:29.84",
    "places": [
      "japan",
      "brazil",
      "mexico",
      "argentina",
      "cayman-islands"
    ],
    "id": "1935"
  },
  {
    "title": "JAPANESE MINISTRY DENIES EXPORT QUOTA FOR DAIHATSU",
    "body": "The Ministry of International Trade and\nIndustry has not yet set a car export quota for  which is scheduled to start exports to the U.S. Later\nthis year, a ministry official said.\n    Several local newspapers said the ministry had set a quota\nof about 10,000 cars.\n    Daihatsu is owned 15.1 pct by Toyota Motor Corp .\n    Quotas for nine car makers, including Daihatsu, are likely\nto be set before the end of March, the official said.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 05:06:00.88",
    "places": [
      "japan",
      "usa"
    ],
    "id": "1936"
  },
  {
    "title": "CSR LTD SAYS IT WILL SELL HEAD OFFICE BUILDINGS",
    "body": "CSR Ltd  said it will sell its\nhead office group of five buildings in central Sydney as part\nof plans to decentralise.\n    The 2,750 square metre site will be repurchased under\nexisting lease-back agreements and then sold by public tender,\nit said in a statement.\n    CSR's sugar and oil divisions have already moved to\nBrisbane and the company said it plans further moves from\ncentral Sydney to reduce its head office staff to about 100\nfrom 550.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 05:07:15.78",
    "places": [
      "australia"
    ],
    "id": "1937"
  },
  {
    "title": "IRAN REPORTS HEAVY FIGHTING IN IRAQI KURDISTAN",
    "body": "Iran said its troops repulsed heavy Iraqi\ncounter-attacks and continued their advance through the rugged\nmountains of Iraqi Kurdistan in overnight fighting on the\nnorthern war front.\n    Iran launched the new offensive, codenamed Karbala-7, on\nTuesday night among the snow-capped peaks of the Haj Omran\nborder area of northeast Iraq.\n    The Iranian news agency IRNA, received in London, said the\ntroops \"continued their successful advance ... With more thrusts\ninto enemy positions.\"\n    It said \"remnants of Iraqi Brigade 604 was shattered and 200\nof its personnel killed or wounded.\" One battalion of the 25th\nDivision's Third Brigade thrown into counter-attacks today\nsuffered 70 pct losses, the agency added. Some 208 prisoners of\nwar had been taken from the front.\n    IRNA said the Iranian forces backed by heavy artillery fire\nwere continuing to advance. No Iranian casualties were given.\n    The area between Haj Omran and the Kurdish town of Rawandiz\nsome 65 km inside Iraq was the scene of heavy fighting in 1983.\nIran has backed dissident Kurds in the area in attacks on\ngovernment positions and installations in northern Iraq.\n    IRNA said the Iranian forces captured large amounts of\nmunitions in the latest fighting.\n    The Iraqis have made no comment so far on the Kurdistan\nfighting, or on advances Tehran reported yesterday on the\nsouthern war front east of the strategic Iraqi port of Basra.\n    IRNA said today a group of its reporters visited\nnewly-captured areas on the southern front and found the\nbattlefield littered with the bodies of Iraqi soldiers and\nburnt military equipment.\n    They quoted an Iranian soldier, Hamid Dehqani, as saying\nheavy rainfall during the past few days \"had paralysed the Iraqi\nenemy from embarking on any action\" against the attacking\nIranians.\n    IRNA referred to the \"Fish Canal\" -- the man-made Fish Lake\n-- made by the Iraqis as a defensive barrier on the eastern\nside of the Shatt al-Arab waterway.\n    The agency yesterday said infantry and armour of the\nRevolutionary Guards had captured strong defences west of the\ncanal in bitter fighting with Iraqi troops.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 05:09:09.62",
    "places": [
      "iran",
      "iraq",
      "uk"
    ],
    "id": "1938"
  },
  {
    "title": " Rank Organisation says it launching 100 mln stg commercial paper program\n",
    "date": " 5-MAR-1987 05:10:20.65",
    "id": "1939"
  },
  {
    "title": "TAIWAN FOREIGN EXCHANGE RESERVES HIT NEW HIGH",
    "body": "Taiwan's foreign exchange reserves hit a\nnew high of more than 51 billion U.S. Dlrs on March 4, compared\nwith 50 billion in mid-February and 25.1 billion a year\nearlier, the central bank said.\n    Bank governor Chang Chi-Cheng told reporters the increase\ncame mainly from the bank's purchases of more than one billion\nU.S. Dlrs on the local interbank market between February 18 and\nMarch 4.\n    He said the rise showed signs of slowing, however, because\nTaiwan has liberalised import policy and expects its trade\nsurplus to decline over the next few months as a result.\n    Chang declined to predict how high the reserves might rise,\nbut local economists have forecast they will hit 60 billion\nU.S. Dlrs by the end of 1987.\n    In January, Taiwan reduced import tariffs of up to 50 pct\non some 1,700 foreign products. It had been under growing U.S.\nPressure to cut its 1986 record 13.6 billion dlr trade surplus\nwith the U.S. Taiwan's 1985 surplus with the U.S. Was 10.2\nbillion, according to official statistics.\n    Wang Chang-Ming, Vice Chairman of the Council for Economic\nPlanning and Development, told Reuters the government is\nplanning another round of deep tariff cuts in the second half\nof this year.\n    The reserves could support imports of more than two years\nfor Taiwan, compared with about three months for Japan and the\nU.S.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 05:10:46.27",
    "topics": [
      "reserves",
      "trade"
    ],
    "places": [
      "taiwan"
    ],
    "id": "1940"
  },
  {
    "title": "MITSUI AND CO TO ISSUE EURODOLLAR WARRANT BONDS",
    "body": "Mitsui and Co Ltd said it plans to issue\n300 mln Eurodollar warrant bonds in two tranches with payment\non March 30 through a syndicate led by Nomura International\nLtd.\n    One tranche is of five-year, 150 mln dlr bonds while the\nrest is of seven-year, 150 mln dlr bonds, but other issue terms\nhave not yet been decided.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 05:11:37.31",
    "places": [
      "japan"
    ],
    "id": "1941"
  },
  {
    "title": "BELGIAN ECU COIN ISSUE PRICED, SALE DATE SET",
    "body": "A limited Belgian issue of silver Ecu\ncoins with a face value of five Ecus will go on sale from March\n23 at a price of 500 Belgian francs each, a Finance Ministry\nspokesman said.\n    Gold Ecu coins with a face value of 50 Ecus will be sold\nfrom the same day. The spokesman told Reuters the price for\nthese would be fixed just before they go on sale but was likely\nto be between 8,500 and 9,000 francs.\n    At least two mln silver coins and several hundreds of\nthousands of the gold coins will be minted, he said. They will\nbe sold both in Belgium and abroad.\n    The coins will be the first ever denominated in the Ecu,\nthe \"basket\" comprised of the 12-nation European Community's\ncurrencies except the Spanish peseta and the Portuguese escudo.\n    The issue is being made to mark the 30th anniversary of the\nEC's founding Treaty of Rome this month. Finance Minister Mark\nEyskens, who currently presides over the EC's council of\neconomic and finance ministers, has called the issue a\npolitical act of symbolic value which aimed to make the\nCommunity's goal of monetary integration more concrete.\n    The coins will be legal tender in Belgium but most demand\nis expected to come from coin collectors.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 05:12:22.62",
    "topics": [
      "silver",
      "gold"
    ],
    "organisations": [
      "ec"
    ],
    "places": [
      "belgium"
    ],
    "id": "1942"
  },
  {
    "title": "U.K. MONEY MARKET GIVEN 17 MLN STG EARLY HELP",
    "body": "The Bank of England said it provided just\n17 mln stg assistance to the money market in response to an\nearly round of bill offers.\n    Earlier, the Bank had estimated the shortage in the system\ntoday at around 1.15 billion stg.\n    The central bank purchased bills for resale to the market\non April 2 at an interest rate of 10-15/16 pct.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 05:13:47.37",
    "topics": [
      "money-fx",
      "interest"
    ],
    "places": [
      "uk"
    ],
    "id": "1943"
  },
  {
    "title": "BANK OF COMMUNICATIONS PLANS 200 MLN H.K. DLR CD",
    "body": "The Chinese state-owned Bank of\nCommunications Ltd Hong Kong branch is planning a 200 mln H.K.\nDlr certificate of deposit issue, banking sources said.\n    They said the five year issue, which matures March 23,\n1992, carries a 7.05 pct coupon payable quarterly. Management\nfee is 10 basis points. Payment date is March 23.\n    China Development Finance Co (H.K.) Ltd, a Bank of China\nunit, is lead manager of the issue. A group is now being\nformed.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 05:13:53.42",
    "places": [
      "hong-kong"
    ],
    "id": "1944"
  },
  {
    "title": "RANK ORGANISATION HAS 100 MLN STG CP PROGRAM",
    "body": "The Rank Organisation Plc said it has\nappointed County Natwest Capital Markets Ltd, Samuel Montagu\nand Co Ltd and Swiss Bank Corporation International as dealers\nin a 100 mln stg commercial paper program.\n    The notes will be issued in any maturity of between seven\nand 364 days and the funds will be used for the company's\ngeneral financing requirements.\n    Arranger for the facility is County Natwest Capital Markets\nLtd while National Westminster Bank Plc will act as issuing and\npaying agent, Rank added.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 05:15:57.52",
    "places": [
      "uk"
    ],
    "id": "1945"
  },
  {
    "title": "FIRS SLIGHTLY RAISES EC BEET SUGAR OUTPUT ESTIMATE",
    "body": "The French sugar market intervention\nboard, FIRS, raised its estimate of 1986/87 beet sugar\nproduction in the 12-member European Community to 13.76 mln\ntonnes white equivalent in its end-February report from 13.74\nmln a month earlier.\n    Its forecast for total EC sugar production, including cane\nand molasses, rose to 14.10 mln tonnes from 14.09 mln.\nPortugal, which joined the Community in January 1986, was\nestimated at 12.75 mln tonnes white equivalent, unchanged from\nthe previous forecast and compared with 12.41 mln tonnes for\n1985/86.\n    Production for the current campaign in Spain was higher\nthan reported last month at 1.03 mln tonnes compared with\n997,000 tonnes.\n    Beet sugar production, expressed as white equivalent, was\nestimated at 3.44 mln tonnes in France, 3.17 mln tonnes in West\nGermany, 1.72 mln in Italy, 1.30 mln in Britain, 1.22 mln in\nthe Netherlands, 936,000 tonnes in Belgium/Luxembourg, 499,000\nin Denmark, 287,000 in Greece, 183,000 in Ireland and 4,000 in\nPortugal.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 05:16:42.46",
    "topics": [
      "sugar"
    ],
    "organisations": [
      "ec"
    ],
    "places": [
      "france",
      "spain",
      "france",
      "west-germany",
      "italy",
      "uk",
      "belgium",
      "luxembourg",
      "netherlands",
      "ireland",
      "greece",
      "denmark",
      "portugal"
    ],
    "id": "1946"
  },
  {
    "title": "BANK OF CEYLON TO ADOPT NEW POLICIES",
    "body": "Sri Lanka's largest bank, the\ngovernment-owned Bank of Ceylon, plans to adopt a more\naggressive and selective interest rate policy to reduce excess\nliquidity, estimated at some 500 mln rupees, and enlarge the\ncountry's export manufacturing base, the bank's new chairman\nNimal Sandaratne told Reuters in an interview.\n    The bank aims to reduce terms for prime customers and is\nholding talks with the Export Development Board on details to\nbe announced later, he said.\n    Sandaratne was head of research at the Central Bank of\nCeylon, the nation's central bank, until January.\n    A Swiss-based non-governmental group, which Sandaratne\ndeclined to identify, has agreed in principal to guarantee\nexport credits, he said, but refused to elaborate further.\n    The bank may also consider more actively participating in\nthe foreign exchange markets in light of its substantial\nnon-resident foreign currency holdings of about 473 mln rupees,\nor about 70 pct of the total market, he said.\n    Sandaratne said the bank may sell 60 pct of its shares in\nits wholly-owned subsidiary, Merchant Bank of Sri Lanka Ltd.\n    The Asian Development Bank and a foreign bank operating\nhere have already expressed interests in acquiring a stake in\nMBSL, Sandaratne said.\n    He tentatively estimated the Bank of Ceylon's net profits\nfor calendar 1986 at 163 mln rupees up from 133 mln the\nprevious year. The increase was eroded by increased provisions\nfor bad debts, he said. About 50 mln was written off and 17 mln\nallotted for general provisions, he added.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 05:21:48.46",
    "places": [
      "sri-lanka"
    ],
    "id": "1947"
  },
  {
    "title": "PAPUA NEW GUINEA PLANS RESOURCES INVESTMENT AGENCY",
    "body": "The Papua New Guinea Government\nwill establish a public corporation to invest in resources\nprojects, Minerals and Energy Minister John Kaputin said.\n    \"We intend to provide a means through which less privileged\nindividuals can become part owners and beneficiaries from the\ndevelopment of mining and petroleum projects,\" he told\nParliament.\n    Existing policy allowing the state up to 30 pct equity in\nmajor mining projects and 22.5 pct in oil and gas projects\nwould be maintained, he said. The planned agency could take\nover the state's equity in current developments.\n    Kaputin said Papua New Guinea was experiencing a boom with\nexploration companies spending about 60 mln kina annually on\nabout 150 mining and 23 petroleum projects.\n    \"The Government is determined to ensure that Papua New\nGuinean ownership in minerals and petroleum projects increases\nin an orderly way,\" he said.\n    Kaputin did not say when the corporation would be\nestablished or exactly what form it would take, but said the\ngovernment would study whether it should be directly involved\nin exploration or development.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 05:22:01.37",
    "topics": [
      "crude"
    ],
    "places": [
      "papua-new-guinea"
    ],
    "id": "1948"
  },
  {
    "title": "NIGERIAN CURRENCY FIRMS AT LATEST AUCTION",
    "body": "The Nigerian naira firmed 2.6 pct against\nthe dollar after 17 banks were disqualified from bidding at\ntoday's weekly foreign exchange auction, the central bank said.\nThe naira finished at 3.8050 to the dollar, against 3.9050 last\nweek.\n    Only 38.39 mln dlrs of the 50 mln dlrs on offer was sold,\nwith all 27 bidding banks successfully obtaining hard currency.\n    The effective rate, including a central bank levy, for\ntransactions in the coming week, was 3.8241 against 3.9246 last\nweek.\n    The failure to sell the whole allocation was due to the\ncentral bank's unprecedented disqualification of 17 banks as\npunishment for inadequate documentation in previous\ntransactions.\n    Banks are required to submit proof that their bids are\nbased on valid commercial transactions and the central bank has\ncomplained in the past that many are failing to produce the\nright paperwork within the specified time.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 05:40:25.29",
    "topics": [
      "money-fx"
    ],
    "places": [
      "nigeria"
    ],
    "id": "1949"
  },
  {
    "title": "CANADA ZERO ISSUES CANADIAN DLR ZERO COUPON BOND",
    "body": "Canada Zero, a sole purpose company\nincorporated in the Cayman Islands, is issuing a zero coupon\neurobond with a total redemption amount of 150 mln Canadian\ndlrs, lead manager CIBC Ltd said.\n    The issue matures on May 1, 2001 and is priced at 30 pct.\nIt is secured with Canadian government bonds. The selling\nconcession is 3/4 while management and underwriting each pay\n1/4 pct. The payment date is April 30. Listing is in\nLuxembourg.\n    A CIBC spokesmn said the issue yields 49 basis points over\nequivalent Canadian Treasury bonds. It is available in\ndenominations of 5,000 and 100,000 Canadian dlrs.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 05:41:23.11",
    "places": [
      "uk",
      "cayman-islands"
    ],
    "id": "1950"
  },
  {
    "title": "U.S. TELLS JAPAN TO DO MORE TO CUT TRADE SURPLUS",
    "body": "U.S. Undersecretary of State for Economic\nAffairs Allen Wallis said he had urged Japan to do much more to\nreduce its large trade surplus with the United States.\n    \"Our central message to Japan this week was that while we\nhave made progress in some areas, much needs to be done,\" he\ntold a press conference after three days of talks.\n    \"What we need is a resolution of trade issues, we need\nvisible efforts to restructure the economy to encourage more\nimports and we need greater domestic-led growth.\"\n    Forecasting sluggish economic growth in Japan this year,\nWallis urged Tokyo to stimulate domestic demand to help reduce\nits trade surplus, which hit a record 83 billion dlrs in 1986.\n    He named several areas of particular concern to Washington\n-- computer microchips, supercomputers, Kansai airport,\nagricultural products and car telephones.\n    He warned that the U.S./Japan agreement governing trade in\nsemiconductors was in jeopardy. Despite the pact, Japanese\nproducers are still dumping microchips in foreign markets other\nthan the United States while U.S. Penetration of the Japanese\nmarket has not increased, he said.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 05:44:34.81",
    "topics": [
      "trade"
    ],
    "places": [
      "japan",
      "usa"
    ],
    "id": "1951"
  },
  {
    "title": "TAIWAN BUYS 60,000 TONNES OF U.S. MAIZE",
    "body": "The joint committee of Taiwan's maize\nimporters has awarded contracts to two U.S. Companies to supply\ntwo shipments of maize, totalling 60,000 tonnes, a committee\nspokesman told Reuters.\n    Continental Grain Co of New York received the first 30,000\ntonne cargo contract, priced at 93.86 U.S. Dlrs per tonne,\nwhile Peavey Co of Minneapolis won the second shipment, also\n30,000 tonnes, at 93.36 dlrs per tonne.\n    Both shipments are c and f Taiwan and are set before March\n16, the spokesman said.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 05:57:25.21",
    "topics": [
      "grain",
      "corn"
    ],
    "places": [
      "taiwan"
    ],
    "id": "1952"
  },
  {
    "title": "BANK OF FRANCE SELLS 11.05 BILLION FRANCS OF TREASURY TAP STOCK - OFFICIAL\n",
    "date": " 5-MAR-1987 05:58:33.68",
    "id": "1953"
  },
  {
    "title": "JAPAN'S CHAMBER OF COMMERCE URGES FISCAL SPENDING",
    "body": "President of the Japan Chamber of Commerce\nand Industry (JCCI) Noboru Gotoh called on the Government to\nissue additional construction bonds as an emergency measure to\nstimulate domestic demand.\n    Gotoh told a press conference that increased fiscal\nspending is the only alternative to prop up the economy as\ncredit conditions are easy enough, a JCCI spokesman said.\n    Japan faces serious unemployment unless more construction\nbonds, to raise cash for public works, are issued but Japan\nshould continue to carry out fiscal reform programmes, Gotoh\nsaid.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 06:02:28.72",
    "places": [
      "japan"
    ],
    "id": "1954"
  },
  {
    "title": "JAPANESE CAPITAL INVESTMENT SEEN SLUGGISH IN 1987",
    "body": "Japanese private plant and equipment\ninvestment will grow 0.1 pct in fiscal 1987, starting April 1,\nfrom 1986 due mainly to a continued slump in manufacturing\nsector spending, the Japan Development Bank said.\n    Capital spending by manufacturing industries, hit hard by\nthe rise of the yen, will fall 5.6 pct, a survey said.\n    Planned investment by non-manufacturing firms will grow\nfour pct as industries like leasing and transport that have\nbenefitted from the yen's rise will remain robust, it said.\n    The 0.1 pct overall increase compares to the 3.1 pct rise\nthe bank projected for the current fiscal year.\n    In the manufacturing sector, iron and steel companies are\nthe most pessimistic, with an estimated 18.0 pct spending cut.\n    Investment by precision machinery and textile firms will\ndecline by 18 pct and 11.2 pct respectively, the survey said.\n    In the non-manufacturing sector, transport and leasing\nservice industries are expected to increase their spending by\n15.7 pct and 10.6 pct, respectively.\n    The bank's survey, conducted in early February, was based\non questionnaires from 1,738 corporations in all sectors having\na business relationship with the bank.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 06:02:47.03",
    "places": [
      "japan"
    ],
    "id": "1955"
  },
  {
    "title": "GULF ARAB FINANCE MINISTERS TO MEET IN ABU DHABI",
    "body": "Economy and finance ministers of the\nGulf Cooperation Council (GCC) states will meet in Abu Dhabi on\nMarch 17 and 18 to discuss their unified economic agreement,\nofficials said.\n    The semi-official United Arab Emirates' (UAE) daily\nal-Ittihad said they would discuss two clauses, effective from\nMarch 1, opening up wholesale trade and industrial loans in GCC\nstates to all GCC citizens.\n    The six states - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia\nand the UAE - agreed in 1981 to integrate their economies and\neliminate barriers to the movement of people and goods.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 06:11:19.38",
    "places": [
      "uae",
      "kuwait",
      "oman",
      "qatar",
      "saudi-arabia"
    ],
    "id": "1956"
  },
  {
    "title": "JAPAN RULING PARTY FIXES DATE OF BUDGET HEARING",
    "body": "Japan's ruling Liberal Democratic Party\nstarted moves to push through the delayed draft budget for\n1987/88 through Parliament, deepening a clash with the\nopposition which called the move rash and unforgivable.\n    In the absence of the opposition, LDP members of parliament\ndecided at a meeting of the Lower House Steering Committee to\nhold a public hearing on the draft budget on March 13 and 14,\nparliamentary officials said.\n    The step came after Parliament resumed deliberations last\nTuesday following a month-long opposition boycott over a\ncontroversial government-proposed sales tax plan.\n    Four opposition parties led by the Socialists have been\ndelaying budget deliberations in a bid to shelve the sales tax\non which the budget plan is based.\n    A Socialist spokesman said the opposition would again\nboycott parliament unless the LDP changed its mind.\n    Prime Minister Yasuhiro Nakasone, who has vowed to push\nthrough the tax reforms, told reporters: \"Watching closely\nnegotiations between the ruling and opposition parties, I would\nlike to avoid ... Passing (the budget) singlehandedly.\"\n    The five pct tax, part of Nakasone's tax reform plan, is\nplanned to start next January to help offset cuts in individual\nincome and corporate tax.\n    The opposition objected to fixing a date for the hearing\nbecause the LDP could technically stop deliberations on the\nbudget and ram it through the budget committee and then a Lower\nHouse plenary session, political analysts said.\n    The four opposition parties called the LDP move \"an\nunforgivable, rash act\" and said they would fight to scrap the\nsales tax.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 06:13:54.00",
    "places": [
      "japan"
    ],
    "id": "1957"
  },
  {
    "title": "BANK OF FRANCE SELLS TAP STOCK",
    "body": "The Bank of France said it sold a total of\n11.05 billion francs of Treasury tap stock in an issue of two\nfixed-rate tranches and one variable rate tranche.\n    It sold 8.25 billion francs of 8.50 pct June 1997 tap stock\nat a top accepted price of 96.30 pct, giving an average yield\nof 8.72 pct. Demand totalled 18.45 billion francs at prices\nbetween 94.70 and 97.10 pct.\n    The Bank also sold 1.8 billion francs worth of 8.50 pct\nDecember 2012 tap stock at a top accepted price of 93.60 pct.\n    Demand totalled 5.25 billion francs and the average yield\nwas 9.13 pct.\n    In addition, it sold one billion francs worth of floating\nrate 1999 tap stock at a top accepted price of 96.90 pct, on\ntotal demand of five billion francs.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 06:16:57.50",
    "places": [
      "france"
    ],
    "id": "1958"
  },
  {
    "title": "GERMAN ECONOMIC OUTLOOK SEEN FAIRLY BRIGHT",
    "body": "The outlook for the West\nGerman economy is relatively bright, with gross national\nproduct expected to expand by three pct this year, Kiel\nUniversity's Institute for World Economy said.\n    The GNP forecast by the institute, one of five leading\neconomic research bodies in West Germany, is more optimistic\nthan that of the other institutes, some of which have recently\nreduced their GNP forecasts to between two and 2.5 pct.\n    In a report the Kiel institute said West Germany's export\noutlook has not deteriorated fundamentally despite the mark's\nstrength against the dollar and other major currencies.\n    \"The danger that exports will slump in 1987 appears, all in\nall, limited,\" the report said. \"On the contrary, a slight rise\nin exports can be expected.\"\n    The institute said past experience has shown West German\nexporters will move to counterbalance currency factors by\ncutting costs, trying to penetrate new markets and adjusting\ntheir product ranges.\n    They will be aided in 1987 by an expected slight rise in\neconomic growth in industrial countries. At the same time, the\ndecline in exports to oil producing countries looks set to slow\nthis year.\n    West German GNP growth in 1987 will be led by renewed\nadvances in domestic consumption and investment spending, both\nof which will in turn be buoyed by an expansionary monetary\npolicy, the institute said.\n    However, it said the labour market would see only a slight\nimprovement because companies will be reluctant to hire\nadditional workers due to higher labour costs caused partly by\nagreed reductions in working hours.\n    The institute cautioned that the expansionary stance of\nmonetary policy in West Germany was likely to bring a marked\nacceleration of inflation.\n    It also warned that what it called the worldwide\nsynchronization of monetary policy heightened the risk of a new\nglobal recession. It said central banks in industrialized\ncountries, including the Bundesbank, had followed the Federal\nReserve Board's expansionary course.\n    The institute said this in turn was bound to lead\neventually to a rise in worldwide inflation and a shift in U.S.\nPolicy towards a more restrictive policy. Other central banks\nwere likely to follow suit, causing a recession that could\naggravate the debt crisis of developing countries as well as\nincrease protectionism around the world.\n    Although Germany cannot entirely shield itself from the\nnegative effects of the global synchronization of monetary\npolicy, it should do all it can to strengthen the forces of\ngrowth at home.\n    The institute said this could be done by ensuring that\nfiscal policy fosters a willingness to work and invest. Taxes\nshould be cut by a greater amount than currently planned, and\nwage increases in 1987 and 1988 should be markedly lower than\nin 1986. It also said the Bundesbank should reduce inflationary\npressures by cutting the current rate of growth in money supply\nto about four pct.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 06:20:44.59",
    "topics": [
      "gnp"
    ],
    "places": [
      "west-germany"
    ],
    "id": "1959"
  },
  {
    "title": "CREDITOR BANKS MAY BUY INTO SINGAPORE COFFEE FIRM",
    "body": "The nine creditor banks of the\nSingapore coffee trader  are\nthinking of buying a controlling stake in the company\nthemselves, a creditor bank official said.\n    Since last December the banks have been allowing the\ncompany to postpone loan repayments while they try to find an\noverseas commodity company to make an offer for the firm.\n    At least one company has expressed interest and\nnegotiations are not yet over, banking sources said.\n    However, the banks are now prepared to consider taking the\nstake if they find an investor willing to inject six to seven\nmln dlrs in the company but not take control, the banking\nsources said.\n    Teck Hock's financial adviser, Singapore International\nMerchant Bankers Ltd (SIMBL), will work on the new proposal\nwith the creditor banks, they said.\n    Major holdings are likely to be held by the two largest\ncreditor banks, Standard Chartered Bank  and\nOversea-Chinese Banking Corp Ltd , they added.\n    Teck Hock owes over 100 mln Singapore dlrs and the creditor\nbanks earlier this week agreed to let Teck Hock fufill\nprofitable contracts to help balance earlier losses.\n    The nine banks are Oversea-Chinese Banking Corp Ltd, United\nOverseas Bank Ltd , ,  , Standard Chartered Bank Ltd, Algemene Bank\nNederland NV , Banque Nationale De Paris  and\n\n REUTER\n\u0003",
    "date": " 5-MAR-1987 06:22:29.71",
    "topics": [
      "coffee"
    ],
    "places": [
      "singapore"
    ],
    "id": "1960"
  },
  {
    "title": "U.K. 4TH QTR TRADE DEFICIT 2.6 BILLION STG, CURRENT ACCOUNT DEFICIT 760 MLN - OFFICIAL\n",
    "date": " 5-MAR-1987 06:33:12.37",
    "topics": [
      "trade",
      "bop"
    ],
    "id": "1961"
  },
  {
    "title": "STRONG EARTHQUAKE REPORTED IN NORTHERN CHILE",
    "body": "A strong earthquake measuring an estimated\n8.0 on the open-ended Richter scale hit northern Chile around\n0936, the Meteorological Agency here reported.\n    The agency said the information had been received from\nHonolulu.\n    It gave no further details.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 06:42:23.96",
    "places": [
      "uk",
      "chile"
    ],
    "id": "1962"
  },
  {
    "title": "ECONOMIC SPOTLIGHT - POLISH SANCTIONS",
    "body": "Poland says U.S. Sanctions have cost its\neconomy 15 billion dlrs and has made clear it wants Washington\nto take a lead in repairing the damage after lifting remaining\nrestrictions two weeks ago.\n    Polish officials are unable to provide a precise breakdown\nof the figure, saying it takes into account a number of\nhypothetical losses. Some of them are \"too sophisticated to\nconvert into financial terms,\" one banking source said.\n    But Western economic experts say the effect of sanctions is\nimpossible to calculate.\n    They say it is blurred by the poor performance of Poland's\neconomy, and dismiss the 15 billion dlr figure as illusory.\n    \"Sanctions have provided a very useful excuse for under-\nachieving. They did have a bad effect, yes, but they only\ncontributed to largely internal, economic problems,\" one said.\n    The U.S. Imposed the measures and withdrew Most Favoured\nNation (MFN) trading status from Poland in 1982 in retaliation\nfor suppression of the Solidarity free trade union under\nmartial law. The estimated cost to the Polish economy was\noriginally devised several years ago by the Institute of\nNational Economy, an offshoot of the central planning\ncommission.\n    According to one Western envoy, an expert on Polish\neconomic affairs, it extrapolated 1979 information on growth\ntrends in trade with the United States, as well as increases in\ncredits from Western commercial and government lenders.\n    But the calculations were based on a time when trade was\nbooming and credits still flowed freely, he said, dismissing\nthe estimate as \"a theoretical projection based on a high point,\nwhich has no real scientific evaluation.\"\n    A foreign trade ministry official said Polish exports to\nthe U.S. In the late 1970s averaged around 400 mln dlrs\nannually and had fallen by half since the sanctions were\nimposed.\n    Imports have suffered, slumping from around 800 mln dlrs to\n200 mln, as credits ran out. Poland has a dwindling trade\nsurplus with the West. Last year it was one billion dlrs\nagainst a targeted 1.6 billion, official figures show.\n    Acknowledging that sanctions have lost Poland important\nU.S. Markets -- including agricultural equipment, textiles,\nchemicals and some foodstuffs -- Western economists say credits\ndried up for economic not political reasons.  \"Poland is\naccusing the West of letting economic relations deteriorate for\npolitical reasons,\" said one expert. \"It's an illusion based on a\nmisunderstanding of Western economy.\"\n    \"There's a limit to how much you can go on giving someone\nwho has no hope of repaying it,\" another said, adding that\nPoland had benefited from a global phenomenon of easy credits\nin the 1970s which were no longer today's reality.\n    Describing the 15 billion dlr assessment as \"nebulous,\" one\ndiplomat said it also included losses of hypothetical orders\nand setbacks to Polish research through the curbing of\nscientific links and exchanges.  Western officials say the\nlifting of sanctions and new MFN status will have little impact\non Poland, which has a hard currency debt of 33.5 billion dlrs\nand lacks the means to modernise its industry.\n    \"MFN doesn't really mean anything, only that Poland will not\nbe treated worse than other countries. It will be difficult to\nregain access to the U.S. Market because different forces are\nin play now,\" said one Western envoy.\n    He said Polish products were not competitive, and their\nquality was too low. Trade wars and possible protectionist\nmeasures amongst the U.S., Japan and Europe would also hamper\nPoland's efforts to regain entry.\n    Deputy foreign trade minister Janusz Kaczurba recognised\nthis fact recently.\n    Kaczurba told the official PAP news agency recently, \"Making\nup our lost position will take a long time and be uncommonly\ndifficult, and in certain cases impossible... In a period of\ntwo to three years it will be possible to increase the level of\nexports by only about 100 mln dlrs.\"\n    While Poland is unlikely to seek compensation, it says it\nhas a \"moral right\" to assistance from the U.S. Which it says\nimposed the sanctions illegally. But a Western economist said\n\"The argument that U.S. Sanctions were a unilateral torpedoing\nof the Polish economy won't cut any ice. The Americans will\njust reply that the Poles acted immorally in crushing\nSolidarity.\"\n    Nevertheless, Polish National Bank head Wladyslaw Baka, in\ntalks in Washington last week with the International Monetary\nFund (IMF) and World Bank, made it clear that Poland was\nlooking for a lead from the United States.\n    He was quoted by PAP as saying that Poland would meet its\nfinancial obligations to the United States, \"but not in a short\ntime and not without a cooperative stand on the part of its\nforeign economic partners.\"\n    He stressed that the U.S. \"had a particular opportunity to\nplay a part in the cooperative policy of Poland's partners\ninterested in the settlement of Polish debt.\"\n    Putting it more sharply, one senior banking official blamed\nWashington for obstructing talks with the World Bank, IMF and\nParis Club of Western creditor governments in recent years and\nsaid it should now play a more positive role.\n    \"As a major superpower the United States can influence\ninternational organisations,\" he said, citing recent meetings\naimed at stabilising currencies as an example of the extent to\nwhich Western nations were prepared to cooperate.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 06:46:59.63",
    "topics": [
      "trade"
    ],
    "organisations": [
      "imf",
      "worldbank"
    ],
    "places": [
      "poland",
      "usa"
    ],
    "id": "1963"
  },
  {
    "title": "U.K. FOURTH QUARTER TRADE DEFICIT 2.6 BILLION STG",
    "body": "Britain had a visible trade deficit of\n2.6 billion stg in the fourth quarter of 1986 against a revised\ndeficit of 2.9 billion in the third quarter, official\nstatistics show.\n    Seasonally-adjusted figures issued by the Central\nStatistical Office (CSO) show the current account was in\ndeficit by 760 mln stg against an upwardly revised third\nquarter shortfall of 930 mln.\n    For 1986 as a whole, visible trade was in deficit by 8.3\nbillion stg, sharply up from 1985's 2.2. Billion shortfall and\na 4.4 billion deficit in 1984.\n    Preliminary figures for invisible transactions in the\nfourth quarter show a surplus 1.8 billion stg to give an\nestimated surplus for 1986 of 7.2 billion. The fourth quarter\nfigure was in line with CSO projections released on Friday.\n    The third quarter invisibles surplus was revised down to\n1.9 billion stg from 2.25 billion.\n    In 1985 the invisibles surplus was 5.1 billion stg.\n    The reduced deficit on visible trade in the fourth quarter\nwas due to an increase in the surplus on oil of 200 mln stg and\na reduction in the non-oil trade deficit of 100 mln, the CSO\nsaid.\n    However, 1986's surplus on oil trade was 4.0 billion stg\nlower than in 1985, while the deficit on non-oil trade\nincreased by 2.1 billion.\n    The figures were broadly in line with market expectations.\n    The CSO stressed that figures for invisible transactions,\nparticularly for the most recent quarters are liable to\nsubstantial revisions as later information becomes available.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 06:47:04.89",
    "topics": [
      "trade",
      "bop"
    ],
    "places": [
      "uk"
    ],
    "id": "1964"
  },
  {
    "title": "BELGIAN WHOLESALE PRICES FALL IN JANUARY",
    "body": "Belgian wholesale prices fell by 5.9\npct in January from a year earlier after a 5.7 pct year on year\nfall in December, figures from the economics ministry show.\n    A ministry spokesman said the wholesale price index, base\n1953 and excluding value added tax, stood at 250.9 in January.\nThis compared with 251.9 in December, 265.5 in Janua~y, 1986\nand 267.2 in December, 1985.\n    In January 1986, wholesale prices were 3.9 pct lower than a\nyear earlier.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 06:47:22.79",
    "topics": [
      "wpi"
    ],
    "places": [
      "belgium"
    ],
    "id": "1965"
  },
  {
    "title": "CARGILL U.K. STRIKE TALKS POSTPONED TILL MONDAY",
    "body": "Talks set for today between management\nand unions to try to solve the labour dispute at Cargill U.K.\nLtd's Seaforth oilseed crushing plant have been rescheduled for\nMonday, a company spokesman said.\n    Oilseed processing at the mill has been at a standstill\nsince December 19.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 06:57:21.11",
    "topics": [
      "oilseed"
    ],
    "places": [
      "uk"
    ],
    "id": "1966"
  },
  {
    "title": "FRENCH INTERVENTION RATE CUT LIKELY, DEALERS SAY",
    "body": "The Bank of France is likely to cut its\nmoney market intervention rate by up to a quarter point at the\nstart of next week.  This follows a steady decline in the call\nmoney rate over the past 10 days and signals from the Finance\nMinistry that the time is ripe for a fall, dealers said.\n    The call money rate peaked at just above nine pct ahead of\nthe meeting of finance ministers from the Group of Five\nindustrial countries and Canada on February 22, which restored\nconsiderable stability to foreign exchanges after several weeks\nof turbulence.\n    The call money rate dropped to around 8-3/8 pct on February\n23, the day after the Paris accord, and then edged steadily\ndown to eight pct on February 27 and 7-3/4 pct on March 3,\nwhere it has now stabilised.\n    Dealers said the Bank of France intervened to absorb\nliquidity to hold the rate at 7-3/4 pct.\n    While call money has dropped by well over a percentage\npoint, the Bank of France's money market intervention rate has\nremained unchanged since January 2, when it was raised to eight\npct from 7-1/4 pct in a bid to stop a franc slide.\n    The seven-day repurchase rate has also been unchanged at\n8-3/4 since it was raised by a half-point on January 5.\n    The Bank of France has begun using the seven-day repurchase\nrate to set an upper indicator for money market rates, while\nusing the intervention rate to set the floor.\n    Sources close to Finance Minister Edouard Balladur said\nthat he would be happy to see an interest rate cut, and dealers\nsaid any fall in the intervention rate was most likely to come\nwhen the Bank of France buys first category paper next Monday,\nalthough an earlier cut could not be excluded.\n   A cut in the seven-day repurchase rate could come as early\nas tomorrow morning, banking sources said.\n    They said recent high interest rates have encouraged an\nacceleration in foreign funds returning to France, discouraging\nthe authorities from making a hasty rate cut. But they also\npointed out that money supply is broadly back on target, giving\nscope for a small fall in rates.\n    M-3 money supply, the government's key aggregate, finished\n1986 within the government's three to five pct growth target,\nrising 4.6 pct compared with seven pct in 1985.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 07:04:28.19",
    "topics": [
      "money-fx",
      "interest"
    ],
    "places": [
      "france"
    ],
    "id": "1967"
  },
  {
    "title": "HONG KONG CD MARKET SHUTS DOWN AFTER NEW ISSUE",
    "body": "The Hong Kong dollar fixed rate market\nwas shut down this afternoon after a 200 mln H.K. Dlr\ncertificate of deposit issue for the Chinese state-owned Bank\nof Communications Ltd Hong Kong branch suddenly surfaced,\nbankers said.\n    Disgruntled dealers said the market was slowly on the road\nto recovery after a bout of sell-off that began in early\nFebruary but it was still too fragile to absorb a new issue.\n    Brokers said the new deal took them by surprise and all\nmajor players stopped making markets in existing issues.\n    The fixed rate market, which consists mainly of CDs tied to\nswaps or asset repackaging, began to fall about a month ago due\nto indigestion after 18 CD issues totalling 2.3 billion dlrs\nflooded the market in January.\n    Bankers said the shake-up was a result of participants\npushing the market up too fast in January amid intense\nspeculation that the Hong Kong dollar's 7.80 peg rate against\nthe U.S. Dollar would soon be changed.\n    The speculation depressed local interest rates and\nunleashed a flood of new issues.\n    But the speculation faded in early February and interest\nrates climbed as the government remained adamant in maintaining\nthe peg, thus triggering an adjustment on the fixed rate\ncapital market.\n    By late February the market had recovered considerably but\nDai-Ichi Kangyo Bank and Morgan Guaranty Trust Co of New York\nlaunched their issues and pushed the market down again. Since\nthen there has been no new issues for nearly two weeks until\nChina Development Finance Co (H.K.) Ltd (CDFC), a unit of the\nBank of China, launched the five-year deal at 7.05 pct with\nquarterly interest payment in mid-afternoon today.\n    Brokers said the market was steady early this morning but\nbegan to slip marginally by late morning as rumours of a new\nissue circulated.\n    When the deal was launched the major players quickly\nsuspended trading and refused to quote prices for their own\nissues, brokers said. \"We just don't know where the market is\ngoing,\" said a European banker.\n    They said the Bank of Communications issue traded at a low\nof 99.70 but was later pushed up to 99.90/95, within the 10\nbasis point fee, adding that buying came mainly from sister\nbanks in the Bank of China group.\n    An official with one of the Chinese banks said the deal was\nlaunched at an effective yield of 7.26 pct, in line with the\nmarket at that time.\n    But a European banker said pricing was not an issue IN the\npresent market conditionS, \"the timing was just not right.\"\n    \"If banks had more patience they wouldn't launch any issues\nnow, and then the market would be all right,\" another dealer\nsaid.\n    \"But there is no reason to be overly pessimistic,\" he said.\n\"The effect of this issue on the market should not be as bad as\nwhat happened after the DKB and Morgan deals.\"\n    Despite the criticism bankers said CDFC still managed to\nrecruit more than 10 underwriters though the composition of the\ngroup has not yet been finalised.\n    \"Any trader should recommend his bank against joining the\ndeal,\" said a dealer. \"But there are other considerations such as\nrelationship.\" He admitted his bank has joined as co-manager.\n    A banker said he saw no reason why the market makers\ndecided to shut down if they were willing to join the new\nissue.\n    \"Perhaps they were jealous that for the first time a Chinese\nentity has taken the sole lead position for a Chinese issue,\" he\nsaid.\n    Previously Chinese entities have always acted as co-lead\nmanagers, whether for Chinese or foreign issues.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 07:05:18.67",
    "places": [
      "hong-kong",
      "china"
    ],
    "id": "1968"
  },
  {
    "title": " Bundesbank says it leaves credit policies unchanged\n",
    "date": " 5-MAR-1987 07:16:04.66",
    "id": "1969"
  },
  {
    "title": "U.K. GRAIN/POTATO FUTURES VOLUME DOWN IN FEBRUARY",
    "body": "Traded volumes for U.K. Grain and potato\nfutures in February were down on the previous month while\npigmeat and pig cash settlement futures were higher, official\nfigures show.\n    Combined wheat and barley futures trade declined to 892,700\ntonnes from 1.19 mln in January, and the value fell to 97 mln\nstg from 129 mln, Grain and Feed Trade Association (GAFTA)\nfigures show.\n    A total of 984,960 tonnes were registered for main crop\npotato futures in February valued at 157 mln stg, versus\n992,760 and 164 mln stg in January.\n    Soymeal futures trade totalled 76,340 tonnes against 90,680\nin January, and value declined to nine mln stg from 10 mln.\n    Nine pigmeat contracts were traded in February, six more\nthan in the previous month, representing 450 carcases against\n150, valued at 29,347 stg against 9,847 stg.\n    Pig cash settlement futures saw 201 contracts traded,\nagainst 19 in January, and the value rose to 659,864 stg from\n119,610 stg.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 07:16:58.61",
    "topics": [
      "grain",
      "potato",
      "wheat",
      "barley",
      "meal-feed",
      "soy-meal",
      "hog",
      "carcass",
      "livestock"
    ],
    "places": [
      "uk"
    ],
    "id": "1970"
  },
  {
    "title": "BUNDESBANK LEAVES CREDIT POLICIES UNCHANGED",
    "body": "The Bundesbank left credit policies\nunchanged after today's regular meeting of its council, a\nspokesman said in answer to enquiries.\n    The West German discount rate remains at 3.0 pct, and the\nLombard emergency financing rate at 5.0 pct.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 07:17:06.10",
    "topics": [
      "interest"
    ],
    "places": [
      "west-germany"
    ],
    "id": "1971"
  },
  {
    "title": "MITSUI AND CO TO ISSUE EURODOLLAR WARRANT BONDS",
    "body": "Mitsui and Co Ltd said it plans to issue\n300 mln Eurodollar warrant bonds in two tranches with payment\non March 30 through a syndicate led by Nomura International\nLtd.\n    One tranche is of five-year, 150 mln dlr bonds while the\nrest is of seven-year, 150 mln dlr bonds, but other issue terms\nhave not yet been decided.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 07:17:49.14",
    "places": [
      "japan"
    ],
    "id": "1972"
  },
  {
    "title": "BANK OF JAPAN TO SELL 500 BILLION IN BILLS",
    "body": "The Bank of Japan will sell tomorrow 500\nbillion yen of financing bills it holds to help absorb a\nprojected money market surplus, money market traders said.\n    Of the total, 300 billion yen will yield 3.9989 pct on the\nsales from money houses to banks and securities houses in\n27-day repurchase agreement, due April 2.\n    The remaining 200 billion yen will yield 3.9994 pct in a\n39-day repurchase pact maturing on April 14, they said.\n    The repurchase agreement yields compare with the 4.0625 pct\none-month commercial bill discount rate today and the 4.50/43\npct rate on one-month certificates of deposit.\n    Tomorrow's surplus in the money market is estimated at 420\nbillion yen, mainly due to payment of national annuities, money\ntraders said. The operation will put the outstanding bill\nsupply at about 1,300 yen.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 07:22:16.36",
    "places": [
      "japan"
    ],
    "id": "1973"
  },
  {
    "title": "ARGENTINA SEEKS NEW DEBT DEADLINES, OFFICIAL SAYS",
    "body": "Argentina will tell its creditors\nit needs an extension of deadlines for payment of capital and\ninterest on its 50 billion dlr foreign debt, Industry and\nForeign Trade Secretary Roberto Lavagna told reporters.\n    \"We, the developing countries, are going to insist on the\napplication of contingency clauses, to extend deadlines for the\npayment of capital as well as interest,\" he said.\n    He said this could bring about what he called a possible\nautomatic capitalisation of those parts of debt interest that\ncould not be paid and even the elimination of a portion of the\ndebt.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 07:25:34.36",
    "places": [
      "argentina"
    ],
    "id": "1974"
  },
  {
    "title": "TURKEY TO IMPORT 100,000 TONNES OF CRYSTAL SUGAR",
    "body": "Turkey has announced a tender to import\n100,000 tonnes of white crystal sugar with an advertisement in\nlocal newspapers.\n    Turkish Sugar Factories said in the advertisement there was\na 50 pct option to increase or decrease the amount and bids\nshould reach it before March 24.\n    The semi-official Anatolian Agency recently quoted Turkish\nMinister of Industry and Trade Cahit Aral as saying Turkey will\nexport 100,000 tonnes of sugar this year and import the same\namount.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 07:33:13.33",
    "topics": [
      "sugar"
    ],
    "places": [
      "turkey"
    ],
    "id": "1975"
  },
  {
    "title": "U.K. MONEY MARKET GIVEN FURTHER SMALL ASSISTANCE",
    "body": "The Bank of England said it provided the\nmoney market with a further 20 mln stg of assistance during the\nmorning. It again bought bills for resale to the market on\nApril 2 at a rate of 10-15/16 pct. Earlier this morning, it\nbought 17 mln stg of bills at the same rate and for resale on\nthe same date.\n    The Bank has thus given a total of 37 mln stg so far today,\nwhich leaves the bulk of a 1.15 billion stg shortage still in\nthe system. Dealers noted that money market rates again eased\nthis morning and the Bank may have refused bill offers from the\ndiscount houses at rates below its established dealing levels.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 07:33:26.77",
    "topics": [
      "money-fx",
      "interest"
    ],
    "places": [
      "uk"
    ],
    "id": "1976"
  },
  {
    "title": "MATSUSHITA ELECTRIC TRADING ISSUES WARRANT BOND",
    "body": "Matushita Electric Trading Co Ltd is\nissuing a 100 mln dlr equity warrant eurobond due March 30,\n1992 paying an indicated coupon of 2-3/4 pct and priced at par,\nlead manager Nomura International Ltd said.\n    Final terms on the non-callable bond will be fixed on March\n12. The selling concession is 1-1/2 pct while management and\nunderwriting combined pays 3/4 pct. The payment date is March\n30 while listing will be in Luxembourg.\n    The issue is available in denominations of 5,000 dlrs. The\nwarrant exercise period is from April 15, 1987 until March 17,\n1992.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 07:51:35.74",
    "places": [
      "uk"
    ],
    "id": "1977"
  },
  {
    "title": "GUNMA BANK ISSUES 50 MLN DLR CONVERTIBLE EUROBOND",
    "body": "The Gunma Bank Ltd is issuing a 50 mln\ndlr convertible eurobond due March 31, 2002 paying an indicated\n2-1/4 pct and priced at par, lead manager Nomura International\nLtd said.\n    The issue is callable from March 31, 1990 at 104 pct\ndeclining by 1/2 pct per annum to par thereafter but is not\ncallable until 1992 unless the share price exceeds 150 pct of\nthe conversion price.\n    The selling concession is 1-1/2 pct while management and\nunderwriting combined pays one pct. Final terms will be fixed\non March 12.\n    The issue is available in denominations of 5,000 dlrs and\nwill be listed in Luxembourg. The payment date is March 31.\n    The conversion period is from April 13, 1987 until March\n22, 2002.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 07:55:53.68",
    "id": "1978"
  },
  {
    "title": "GM   LAYING OFF 5,500 AT TWO PLANTS",
    "body": "General Motors Corp said it ordered\ntemporary layoffs of 5,500 hourly workers to cut production and\nthereby reduce inventories of cars built at two plants later\nthis month.\n    A spokesman said 2,000 workers would be laid off one week\nbeginning March 9 at GM's Detroit-Hamtramck luxury car plant.\n    Another 3,500 will be laid off a week effective March 23 at\nGM's Lansing, Mich, plant which builds the company's \"N-body\"\ncompact cars.\n Reuter\n\u0003",
    "date": " 5-MAR-1987 08:13:26.34",
    "places": [
      "usa"
    ],
    "id": "1979"
  },
  {
    "title": "ICE UNCHANGED AT SOVIET OIL PORT OF VENTSPILS",
    "body": "Ice conditions are unchanged at the\nSoviet Baltic oil port of Ventspils, with continuous and\ncompacted drift ice 15 to 30 cms thick, the latest report of\nthe Finnish Board of Navigation said.\n    Icebreaker assistance to reach Ventspils harbour is needed\nfor normal steel vessels without special reinforcement against\nice, the report said.\n    It gave no details of ice conditions at the other major\nSoviet Baltic export harbour of Klaipeda.\n Reuter\n\u0003",
    "date": " 5-MAR-1987 08:15:17.95",
    "topics": [
      "crude",
      "ship"
    ],
    "places": [
      "finland",
      "ussr"
    ],
    "id": "1980"
  },
  {
    "title": "HUGHES TOOL  SEEKS CHIEF OPERATING OFFICER",
    "body": "Hughes Tool Co said its board has\nappointed a committee to search for a chief operating officer\nin the event that it does not complete its merger with Baker\nInternational Corp .\n    Last night, Hughes directors said it would terminate its\nagreement to merge with Baker because Baker would only proceed\nif Hughes signed a consent decree with the U.S. Justice\nDepartment that the Hughes board had determined to be\nunreasonable.\n    The post of chief operating officer is now vacant at\nHughes.  Chairman W.A. Kistler Jr. is chief executive officer.\n    Hughes said it proposed to Baker that the companies ask the\nJustice Department to allow them to proceed with the merger on\ncondition that they find a buyer approved by the  Department\nfor the domestic oilfield tricine rock bit assets of Baker's\nReed subsidiary, its Singapore plant and Baker Lift's domestic\nelectrical submersible pump business by April 22, the last date\nthe merger of Baker and Hughes could occur under their\nagreement.\n    Hughes said its proposal would have been conditioned on it\nnot being required to license the purchaser with any Hughes\ntechnology and on the imposition of no more adverse conditions.\n    Hughes said \"For reasons Hughes does not fully understand,\nBaker declined to proceed in this fashion and insisted that it\nwould proceed only if Hughes signed the consent decree.\"\n    The company said its board found the consent decree to be\nunreasonable because some \"unusual terms\" in the decree posed a\nsubstantial risk that control of the divestiture of Reed would\nbe passed to a trustee owing no duties to the shareholders of\nthe combined company, which would have been called Baker Hughes\nInc, and would include all of Reed's international assets and\nits coring and diamond bit assets.\n    Hughes said the board also found unacceptable the consent\ndecree condition that the merged company fund ongoing losses of\nReed and Reed capital expenditures for as long as it took to\nsell Reed.\n    The company said the board decision to adopt its own\ndivestiture plan and terminate the merger agreement if Baker\ndid not accept was unanimous.\n Reuter\n\u0003",
    "date": " 5-MAR-1987 08:17:18.91",
    "places": [
      "usa"
    ],
    "id": "1981"
  },
  {
    "title": "SWISS OFFERS NEW SERIES OF MONEY MARKET PAPER",
    "body": "The Swiss Finance Ministry is inviting\ntenders for a new series of three-month money market\ncertificates to raise about 150 mln Swiss francs, the Swiss\nNational Bank said.\n    Bids would be due on March 10 and payment on March 12.\n    The last issue of three-month paper conducted on February\n12 yielded 2.969 pct.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 08:17:41.50",
    "topics": [
      "money-fx",
      "interest"
    ],
    "places": [
      "switzerland"
    ],
    "id": "1982"
  },
  {
    "title": "EGYPTIAN CENTRAL BANK DOLLAR RATE UNCHANGED",
    "body": "Egypt's Central Bank today set the dollar\nrate for commercial banks for March 6 at 1.373/87 dollars,\nunchanged from the previous rate.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 08:20:45.68",
    "topics": [
      "money-fx"
    ],
    "places": [
      "egypt"
    ],
    "id": "1983"
  },
  {
    "title": "NO MINES DAMAGE REPORTED AFTER CHILE TREMOR",
    "body": "A tremor hit northern Chile early today\nbut there were no immediate reports of victims or of damage to\nthe country's vital mining industry, the National Bureau for\nEmergencies, ONEMI, said.\n    The effects of the tremor at 0620 hrs (0920 GMT) registered\nfour to six degrees on the 12-degree Mercalli scale in\nAntofagasta, 1,000 km north of Santiago, and five to six\ndegrees in Chuquicamata and Calama, at the centre of Chile's\nmining region.\n    The tremor was followed by a milder aftershock at 0758 hrs.\n    An ONEMI spokesman said windows had been broken and a\nnumber of cornices had fallen off buildings in the worst-hit\nareas. These effects are described as up to seven degrees on\nthe Mercalli scale. The tremor caused a partial power cut in\nnorthern Chile, the spokesman added.\n    Quoting from the latest report from the area, received at\n8.37 A.M., He said the effects of the tremor registered two to\nthree degrees on the Mercalli scale in Arica, on the northern\nborder with Peru, and three to four in Copiapo, 700 km north of\nSantiago.\n    ONEMI could not provide a reading on the Richter scale.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 08:25:49.04",
    "places": [
      "chile"
    ],
    "id": "1984"
  },
  {
    "title": "TANZANIAN RAILWAYS SECURE 25.6 MLN DLRS AID",
    "body": "State-run Tanzania Railway\nCorporation (TRC) has secured 25.6 mln dlrs aid from banks and\nEuropean countries for a one-year emergency repair program,\nTransport Minister Mustafa Nyang'anyi said.\n    Nyang'anyi told Reuters on his return from a World Bank\nsponsored donors' conference in New York that the aid would\nenable TRC to buy spares for 32 locomotives, overhaul 800\nwagons and replace 67,000 sleepers over the next 12 months.\n    The World Bank, African Development Bank, European\nCommunity, Canada, Belgium, West Germany, Britain, Sweden,\nItaly and Denmark had contributed to the package, he said.\n    TRC runs a rail network linking Dar es Salaam and the\nnorthern port of Tanga with the coffee-growing area around\nMount Kilimanjaro and ports on Lake Victoria and Lake\nTanganyika.\n    It is under separate administration from the\nTanzania-Zambia railway linking Dar es Salaam with the Zambian\ncopperbelt and the railway system of southern Africa, which has\nalready received substantial aid as part of international\nefforts to ease the dependence of landlocked African states on\ntrade routes through South Africa.\n    But this is the first international aid package for TRC,\nwhich also carries cargo for Uganda, Zaire and Burundi.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 08:26:25.34",
    "organisations": [
      "worldbank",
      "ec",
      "adb-africa"
    ],
    "places": [
      "tanzania",
      "canada",
      "belgium",
      "west-germany",
      "uk",
      "sweden",
      "italy",
      "denmark",
      "zambia",
      "south-africa"
    ],
    "id": "1985"
  },
  {
    "title": "MITSUI AND CO EUROBONDS FORMALLY LAUNCHED",
    "body": "The two 150 mln dlr equity warrant\neurobonds for Mitsui and Co Ltd, reported earlier today from\nTokyo, have now been formally launched, lead manager Nomura\nInternational Ltd said.\n    The first tranche matures on March 30, 1992 and has an\nindicated coupon of 2-3/4 pct while the second tranche matures\non March 30, 1994 and has a fixed coupon of three pct. Both\ndeals have an indicated pricing of par.\n    The selling concession for both deals is 1-1/2 pct while\nmanagement and underwriting combined pays 3/4 pct. Final terms\non the deals will be fixed on March 12.\n Reuter\n\u0003",
    "date": " 5-MAR-1987 08:30:56.21",
    "places": [
      "uk"
    ],
    "id": "1986"
  },
  {
    "title": "BAKER INTERNATIONAL CORP SUES HUGHES TOOL SEEKING MERGER COMPLETION\n",
    "date": " 5-MAR-1987 08:31:35.25",
    "topics": [
      "acq"
    ],
    "id": "1987"
  },
  {
    "title": "CARTER HAWLEY HALE STORES FEBRUARY SALES UP 7.6 PCT\n",
    "date": " 5-MAR-1987 08:33:12.93",
    "id": "1988"
  },
  {
    "title": "USAIR GROUP REJECTS TRANS WORLD AIRLINES TAKEOVER BID\n",
    "date": " 5-MAR-1987 08:34:07.56",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1989"
  },
  {
    "title": "EARLY MARCH OPEC OUTPUT SEEN WELL BELOW CEILING",
    "body": "OPEC crude oil output in the first few\ndays of March was running at about 14.7 mln bpd, down from a 16\nmln bpd average for February and well below the 15.8 mln bpd\nceiling the group adopted in December, a Reuter survey shows.\n    The figures were polled by Reuters correspondents from oil\ntraders, industry executives and analysts in Europe, the Middle\nEast, Africa, Latin America and Asia.\n    They back recent statements by OPEC ministers that the\ngroup is producing within its ceiling to support the return to\na fixed price system, which came into effect last month.\n    OPEC output for the whole of February was about 200,000 bpd\nabove the ceiling, largely because of overproduction by the\nUnited Arab Emirates and Kuwait, the figures show.\n    The UAE, together with the much smaller producer Ecuador,\nwas also producing above quota in the first days of March, the\nsurvey reveals.\n    But such overproduction was compensated for by a sharp fall\nin Saudi Arabian output, together with Iran\"s inability to\nexport as much as its quota allows.\n    Iraq rejected its OPEC quota of 1.466 mln bpd and produced\n1.75 mln bpd in February and early March, the figures showed.\n    Saudi output -- excluding movements into stocks -- fell to\n3.1 mln bpd in early March from 3.5 mln bpd in February,\nagainst a 4.133 mln bpd quota. The Saudi figures include a\n200,000 bpd share of Neutral Zone production.\n    Kuwait, which has consistently denied quota violations, was\nestimated to be pumping 1.4 mln bpd in February and 1.15 in\nearly March -- both figures including 200,000 bpd as its share\nof Neutral Zone output -- against its 948,000 bpd quota.\n    Reports of customer resistance to fixed prices set by some\nOPEC states were reflected in output from Qatar and Nigeria,\nboth substantially under quota in February and early March.\n    Qatar's February output was 230,000 bpd, and this fell to\n180,000 bpd in early March compared with its 285,000 bpd quota.\n    Industry sources say Japanese buyers are resisting Qatar\"s\nprices and Gulf Arab oil states have pledged to make up for any\nshortfall in sales which a fellow Gulf state suffers.\n    Nigeria's early March output was about one mln bpd, down\nfrom 1.14 mln bpd in February and its quota of 1.238 mln bpd.\n    Industry sources say Nigeria's customers believe its Bonny\ngrades are overpriced compared with compatible Brent crudes\nfrom the U.K. North Sea.\n    Country-by-country production figures are as follows, in\nmln bpd -\n COUNTRY        CURRENT        FEBRUARY    QUOTA\n ALGERIA        0.64           0.64        0.635\n ECUADOR        0.26           0.26        0.210\n GABON          0.15           0.15        0.152\n INDONESIA      1.16           1.16        1.133\n IRAN           1.80           2.20        2.255\n IRAQ           1.75           1.75        1.466\n KUWAIT         1.15           1.40        0.948\n LIBYA          0.95           0.95        0.948\n NIGERIA        1.00           1.14        1.238\n QATAR          0.18           0.23        0.285\n SAUDI ARABIA   3.10           3.50        4.133\n UAE            1.10           1.15        0.902\n VENEZUELA      1.50           1.50        1.495\n TOTAL          14.7           16.0        15.8\n REUTER\n Reuter\n\u0003",
    "date": " 5-MAR-1987 08:37:35.97",
    "topics": [
      "crude"
    ],
    "organisations": [
      "opec"
    ],
    "places": [
      "uk",
      "uae",
      "kuwait",
      "iran",
      "saudi-arabia",
      "ecuador",
      "qatar",
      "nigeria",
      "algeria",
      "gabon",
      "indonesia",
      "libya",
      "qatar",
      "iran",
      "saudi-arabia",
      "venezuela"
    ],
    "id": "1990"
  },
  {
    "title": "BETHLEHEM  HAS INVESTIGATED CHAPTER 11",
    "body": "Bethlehem Steel Corp has\ninvestigated the ramifications of a filing for reorganization\nunder Chapter 11 of the federal bankruptcy laws but has no\npresent plans to file, a company spokesman told Reuters.\n    The spokesman said the investigation was made some time ago\nand was undertaken as a precaution in the interest of prudent\nmanagement.\n    He said while Bethlehem, which has been losing money for\nseveral years, does not intend to seek protection from\ncreditors now, it could do so if conditions worsened,\nparticularly if it ran out of cash.\n    But the spokesman said Bethlehem ended 1986 with over 460\nmln dlrs in cash on hand, partly due to the sale of assets over\nthe year, and expects to maintain its cash position at around\nthat level through 1987.\n    At the end of 1985, Bethlehem had less than 100 mln dlrs in\ncash.\n Reuter\n\u0003",
    "date": " 5-MAR-1987 08:41:49.49",
    "places": [
      "usa"
    ],
    "id": "1991"
  },
  {
    "title": "CITY OF QUEBEC ISSUES 40 MLN CANADIAN DLR EUROBOND",
    "body": "The City of Quebec is issuing a 40 mln\nCanadian dlr, nine pct bond due April 1, 1997 at 100-1/2 pct,\nsole lead manager Societe Generale said.\n    The non-callable issue is of direct unsecured,\nunsubordinated debt.\n    Fees are 1-1/4 pct for selling and 3/8 pct each for\nmanagement and underwriting. Payment date is April 1,\ndenominations are of 1,000 and 10,000 dlrs and listing is in\nLuxembourg.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 08:48:05.99",
    "places": [
      "france"
    ],
    "id": "1992"
  },
  {
    "title": "CARTER HAWLEY HALE  FEBRUARY SALES RISE",
    "body": "Carter Hawley Hale Stores Inc said\nsales for the four weeks ended February 28 were up 7.6 pct to\n240.8 mln dlrs from 223.8 mln dlrs a year before, with\nsame-store sales up 5.6 pct.\n    Sales for the prior year exclude John Wanamaker stores,\nsold at the end of 1986.\n Reuter\n\u0003",
    "date": " 5-MAR-1987 08:48:10.80",
    "places": [
      "usa"
    ],
    "id": "1993"
  },
  {
    "title": "BAKER  SUES TO FORCE HUGHES  MERGER",
    "body": "Baker International corp said it has\nfiled suit in state court in Houston to compel Hughes Tool Co\nto complete its proposed merger with Baker.\n    Late yesterday, Hughes said it had terminated the merger\nagreement because Baker would not agree to an alternative\ndivestiture plan devised by Hughes.  Hughes' board had\npreviously found unacceptable a U.S. Justice Department consent\ndecree that would have required broader divestitures.\n    Baker said it has not obtained any satisfactory explanation\nfrom Hughes of its objections to the provisions of the Justice\nDepartment consent decree.\n    Hughes yesterday adjourned the special meeting at which\nshareholders were to vote on the merger without permitting the\ncounting of votes on the deal.  Baker said it believes the vote\nwas overwhelmingly in favor of the merger.\n    Baker said the new terms that Hughes proposed for the\nmerger, as an alternative to the consent decree, were \"more\nburdensome\" than those of the consent decree themselves.\n    Baker said divestitures under the consent decree would\nreduce revenues for the combined company by about 65 mln dlrs\nor three pct.\n    Baker said it will continue to pursue the divestitures of\nthe units named in the consent decree.\n    It said its suit names as defendants Hughes and certain of\nits directors and seeks either an injunction forcing Hughes to\nlive up to the merger agreement or \"substantial\" monetary\ndamages it did not name.\n    Baker said it believes the merger to be in the best\ninterests of shareholders of both companies.\n Reuter\n\u0003",
    "date": " 5-MAR-1987 08:48:26.52",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1994"
  },
  {
    "title": "SPAIN DEREGULATES BANK DEPOSIT INTEREST RATES",
    "body": "Spain's Finance Ministry deregulated bank\ndeposit rates in an effort to raise competition among banks and\nbring legislation into line with the European Community (EC), a\nministry spokesman said.\n    The measure was published today in the Official State\nGazette. It takes effect tomorrow and lifts restrictions on\nrates, now limited to six pct on deposits of up to 180 days.\n    The government also enacted a decree cutting to one pct\nfrom 13 pct the proportion of total assets which banks must\nlend at favourable rates to industries classified \"of public\ninterest.\"\n    Some bankers expect the deregulation of rates to result in\na 20 pct drop in profits this year.\n    Secretary of State for the Economy Guillermo de la Dehesa\ntold Reuters in a recent interview the reduction in fixed asset\ninvestments would offset losses from the rate liberalisation.\n REUTER\n\u0003",
    "date": " 5-MAR-1987 08:51:03.93",
    "topics": [
      "interest"
    ],
    "organisations": [
      "ec"
    ],
    "places": [
      "spain"
    ],
    "id": "1995"
  },
  {
    "title": "USAIR  REJECTS TWA  TAKEOVER BID",
    "body": "USAir Group Inc said its board has\nrejected Trans World Airlines Inc's offer to acquire USAir for\n52 dlrs per share in cash as grossly in adequate and not in the\nbest interests of USAir shareholders, employees or passengers.\n    The company said the unsolicited bid by the Carl C.\nIcahn-led TWA was \"highly conditional.\"\n    USAir said its board and that of Piedmont Aviation Inc\n met separately yesterday to consider USAir's offer to\nacquire 50.1 pct of Piedmont for 71 dlrs per share and\nremaining shares for 1.5 to 1.9 common shares each, valued at\nabout 73 dlrs per share based on the average closing price of\nUSAir common during a period just before the merger.\n    The company said it is continuing talks with Piedmont on\narriving at a definitive merger agreement and the two companies\nhope to reach one very shortly.\n    USAir said \"In light of the highly conditional nature and\nother terms of the TWA offer, the timing of the offer and the\ncircumstances under which it was made, USAir Group believes\nthat the purpose of the TWA offer is to interfere with USAir\nGroup's proposed acquisition of Piedmont.\n    \"TWA's proposal is nothing more than an attempt by Carl\nIcahn to disrupt at the eleventh hour USAir Group's acquisition\nof Piedmont, a transaction which the USAir Group board views as\nmost beneficial to USAir Group shareholders, employees and\npassengers and which Mr. Icahn obviously regards as contrary to\nhis own personal interests.\"\n    USAir said its board has authorized counsel to explore all\nappropriate legal remedies against what it called TWA's\nlast-minute attempt to interfere with USAir Group's acquisition\nof Piedmont.\n    The company said conditions to the TWA offer include TWA\nobtaining financing, the USAir board redeeming defensive rights\nissued to shareholders last year and acting to render the \"fair\nprice\" provision contained in USAir's charter inapplicable to\nthe TWA offer and Transportation Department approval.\n Reuter...\n\u0003",
    "date": " 5-MAR-1987 08:58:43.02",
    "topics": [
      "acq"
    ],
    "places": [
      "usa"
    ],
    "id": "1996"
  },
  {
    "title": "PAYLESS CASHWAYS INC  FEBRUARY SALES RISE",
    "body": "Payless Cashways Inc said its\nsales for the four weeks ended February 28 rose six pct on a\ncomparable store basis to 108.6 mln dlrs from 89.3 mln dlrs a\nyear ago.\n    Year to date, it said sales advanced to 332.1 mln dlrs from\n274.5 mln dlrs.\n Reuter\n\u0003",
    "date": " 5-MAR-1987 08:59:21.09",
    "places": [
      "usa"
    ],
    "id": "1997"
  },
  {
    "title": "STERIVET  TO DEVELOP NEW HORSE DRUG",
    "body": "Sterivet Laboratories Ltd said it is\nproceeding with development of a new drug to treat navicular\ndisease in horses.\n    The company said it received an unspecified financial\ncontribution from the National Research Council of Canada to\nhelp develop the drug for treating navicular disease, which\naffects horses' feet.\n    Sterivet said the drug has produced promising results in\nlimited clinical trials conducted over the past 18 months in\nOntario.\n Reuter\n\u0003",
    "date": " 5-MAR-1987 08:59:27.34",
    "places": [
      "canada"
    ],
    "id": "1998"
  },
  {
    "title": "U.S. EXPANSION THREATENED - CONGRESSIONAL REPORT",
    "body": "The U.S. economy is facing several\nserious problems which threaten its continued expansion,\naccording to a Congressional report released today.\n    The report by the Democratic majority of the Congressional\nJoint Economic Committee said the outlook was for sluggish\ngrowth in the U.S. and the rest of the world for the near\nfuture.\n    Committee Republicans released a separate, more optimistic\nreport predicting continued stable growth with low inflation.\n    Democrats have a 12 to eight majority on the committee,\nwhich is made up of 10 Senators and 10 Representatives.\n    \"The annual report of the committee surveys a 3.7 trillion\ndlr economy whose tranquil appearance obscures the danger\nsignals that lie just below the surface,\" Committee chairman\nSen. Paul Sarbanes said in a statement.\n    \"A close inspection of the economy reveals that the current\nrecovery, while long, is fragile, and we are skating on thin\nice,\" the Maryland Democrat said.\n    He said the danger signals included a decline in\ninvestment, increased demand for borrowing which was straining\nthe financial system, a possible increase in inflation fueled\nby higher oil prices and the depressed condition of the\nnation's farmers.\n    Republicans said most private economists saw no likelihood\nof a recession and were predicting a growth rate of around\nthree pct for this year and next, similar to Administration\nforecasts.\n    \"The economy appears to be on a path of stable growth. We're\ncomfortable with the current low rate of inflation, hopeful\nthat interest rates will continue to decline, optimistic that\nemployment opportunities will continue to improve and confident\nin this nation's resilient, innovative and diversified economy,\"\nthe Republican report said.\n    \"The greatest economic challenge facing the 100th Congress\nis reducing the federal deficit,\" the Republicans added.\n    Democrats said the budget deficit should be reduced but\nalso wanted the government to spend more on education, job\ntraining, research and development and health care.\n    They said pressures on the dollar might make it difficult\nfor the Federal Reserve to use monetary policy to stimulate the\neconomy if this becomes necessary.\n    \"There is now substantial concern about the inflationary\neffects of a declining dollar and the buildup of monetary\npressure arising from the recent rapid growth in the money\nsupply,\" the Democrat report said.\n    \"At the same time, the increased reliance on foreign sources\nof capital in American investment markets means that the\nFederal Reserve can no longer be as aggressive as in the past\nin lowering interest rates and driving the dollar down.\"\n    \"Taken together, the outlook for fiscal and monetary policy\nis thus not very encouraging,\" the Democrats said.\n    The Democrats called on the Administration to be more\naggressive in removing foreign trade barriers and in seeking\nnew initiatives to solve the international debt problem.\n    The Democrats said much of the U.S. trade deficit had been\ncaused by misalignment of the world's currencies, especially\nthe overvaluation of the dollar that began in 1982.\n    Both Democrats and Republicans called for policies to\nincrease American productivity including incentives for saving\nand investment in plant and equipment and development of a\nbetter educated work force.\n Reuter\n\u0003",
    "date": " 5-MAR-1987 09:02:50.88",
    "places": [
      "usa"
    ],
    "id": "1999"
  },
  {
    "title": "U.S. FIRST TIME JOBLESS CLAIMS FALL IN WEEK",
    "body": "New applications for unemployment\ninsurance benefits fell to a seasonally adjusted 332,900 in the\nweek ended Feb 21 from 368,400 in the prior week, the Labor\nDepartment said.\n    The number of people actually receiving benefits under\nregular state programs totaled 3,014,400 in the week ended Feb\n14, the latest period for which that figure was available.\n    That was up from 2,997,800 the previous week.\n     \n Reuter\n\u0003",
    "date": " 5-MAR-1987 09:05:42.45",
    "topics": [
      "jobs"
    ],
    "id": "2000"
  }
]