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The South Australia Government Financing Authority is issuing a 25 mln Australian dlr zero coupon bond priced at 51.75 pct lead manager Hambros Bank Ltd said. The bonds due April 2 1992 are available in denominations of 5000 and 10000 dlrs and will be listed in Luxembourg. Fees comprise 1/4 pct selling and 1/4 pct mana... | SOUTH AUSTRALIA AGENCY ISSUES ZERO-COUPON BOND |
 CORRECTION - NON-COMMUNIST FEBRUARY ALUMINIUM In todays London item +NON-COMMUNIST FEBRUARY ALUMINIUM OUTPUT UP IPAI+ please read in first paragraph and throughout +...Daily average primary aluminium production...+ correcting from +average unwrought aluminium production+. REUTER  | |
<Newman Industries Plc> said it was discussing the possible merger of its electric motor operations with Hawker Siddeley Group Plcs <HSID.L> <Brook Crompton Parkinson Motors Ltd> unit. Newman has electric motor operations in the U.K. And Australia. The company gave no further details but said a further stateme... | NEWMAN, HAWKER DISCUSS ELECTRIC MOTOR MERGER |
Dutch chemical group Akzo N.V. <AKZO.AS> said it agreed to take over household product subsidiaries of French group Rhone-Poulenc <RHON.PA> for an undisclosed sum. Under the agreement Akzo will acquire the household product activities of the Lyons-based <Rhodic> and Remalard-based <Buhler-Fontaine> units of... | AKZO BUYS RHONE-POULENC HOUSEHOLD UNITS |
A top Swiss banker called for an obligatory continuous rating for all Swiss franc bonds and said he believed anyone buying more than five pct of a company should be made to declare their share. In comments at a news conference of <Vontobel Holding AG> chairman Hans Vontobel said he believed it was up to the banks ow... | SWISS BANKER WANTS BOND RATINGS, SHARE DISCLOSURE |
Italian industrial production fell 3.4 pct in January compared with the same month last year the national statistics institute Istat said. The rise follows a year-on-year increase in December 1986 of 4.5 pct. Istats industrial production index base 1980 not seasonally adjusted registered 93.3 compared with 96.6 in Janu... | ITALIAN JANUARY INDUSTRIAL OUTPUT FALLS 3.4 PCT |
Economists forecasts vary widely for the February monthly U.S. budget deficit to be released today. However most agree on one point -- that the budget deficit for the 1987 fiscal year will narrow substantially from 1986 levels. The report is likely to mean very little to the moribund credit markets however which have b... | U.S. CREDIT MARKET OUTLOOK - BUDGET DEFICIT |
President Reagan staying cool under a televised grilling on the Iran-contra scandal insisted he has told all he knows about the crippling affair and said he would do it all differently given a second chance. No I would not go down that same road again the president said last night during a 32-minute news conference his... | REAGAN DEFENDS IRAN-DEAL, BUT WOULDN'T REPEAT IT |
<Berliner Bank AG> has suffered losses of between 10 and 100 mln marks through credits granted by its Stuttgart branch by officials there exceeding their powers a bank spokesman said in answer to queries. The spokesman declined to say exactly how large the losses were. Berliner Bank has suspended the three managers ... | BERLINER BANK SUFFERS LOSSES ON STUTTGART LOANS |
President Ronald Reagan said he would veto any tax increases voted by Congress. My pledge to veto any tax rate increase remains rock solid Reagan said during a televised news conference. The president said he opposed efforts by some members of Congress to back away from deficit reduction targets set by the Gramm-Rudman... | PRESIDENT REAGAN VOWS TO VETO ANY TAX INCREASE |
President Reagan said the United States must do more to lessen its reliance on imported oil. President Reagan said during a nationally televised news conference that the rising U.S. reliance on foreign oil is a problem that the administration is studying. We have to study this more Reagan said. This is why we increased... | REAGAN SAYS U.S. NEEDS TO LESSEN OIL IMPORTS |
President Reagan said the U.S. government is still looking into the problem of acid rain. Were still investigating this he told a nationally televised news conference. Reagan added that the government will now work with U.S. industry to help address the problem. However he declined to endorse the writing of federal sta... | REAGAN SAYS U.S. STILL PROBING ACID RAIN PROBLEM |
The London Commodity Exchange (LCE) and International Petroleum Exchange (IPE) are to introduce revised trading slip systems incorporating the time that futures business is executed an LCE spokeswoman said. The LCEs six week trial system starts on April 1 with buyers and sellers filling in slips which carry not only th... | LCE AND IPE TO INTRODUCE TIME-STAMPING |
The Bank of Spain suspended its daily money market assistance and offered to drain funds with three- and seven-day repurchase agreements at 12-1/2 pct money market sources said. The sources said the measures were a further attempt to rein in money supply and were likely to force some institutions to scramble for funds ... | BANK OF SPAIN SUSPENDS ASSISTANCE, DRAINS FUNDS |
PacifiCorp said an offering of 50 mln dlrs of 7.12 pct serial preferred stock is underway at 100 dlrs per share through underwriters led by Salomon Inc <SB> Merrill Lynch and Co Inc <MER> L.F. Rothschild Unterberg Towbin Inc <R> and Printon Kane and Co. The company said its proceeds from the offering were 99.2... | PACIFICORP <PPW> SELLS SERIAL PREFERRED STOCK |
<Cineplex Odeon Corp> said chairman Garth H. Drabinsky and vice chairman Myron I. Gottlieb have each purchased from the companys treasury 750000 common shares at 17.50 dlrs each. Reuter | CINEPLEX ODEON OFFICERS BUY SHARES FROM COMPANY |
Weyerhaeuser Co said it has filed for an offering of four mln shares of convertible exchangeable preference shares through underwriter Morgan Stanley Group Inc <MS>. The company said the preference shares will be convertible at any time into common shares and on any dividend payment date starting June 15 1990 the co... | WYERHAEUSER <WY> FILES TO OFFER PREFERENCE STOCK |
Trico Industries Inc said it has received a six mln dlr contract to supply hydraulic lift equipment for heavy crude oil production for the Chinese Ministry of Petroleum Industry. The company said the equipment is for use in the Laiohe oilfield 350 miles northeast of Peking and will equip a 140-well program. Reuter | TRICO <TRO> GETS CHINESE CONTRACT |
Colorado Venture Capital corp said its net asset value rose 215239 dlrs or two cts per share during the fourth quarter and 175712 dlrs or two cts per share during the full year 1986. Reuter | COLORADO VENTURE CAPITAL <COVC> ASSET VALUE UP |
Shr loss 46 cts vs loss 51 cts Net loss 10.9 mln vs loss 9782818 Revs 20.1 mln vs 9437270 Avg shrs 23.5 mln vs 19.3 mln 1st half Shr loss 90 cts vs loss 1.11 dlrs Net loss 20.6 mln vs 21.4 mln Revs 38.9 mln vs 14.5 mln Avg shrs 22.8 mln vs 19.2 mln Reuter | MICRON TECHNOLOGY INC <DRAM> 2ND QTR MARCH FIVE |
Shr loss seven cts vs loss 23 cts Net loss 381000 vs loss 1071000 Sales 4531000 vs 4409000 Year Shr loss 21 cts vs loss 98 cts Net loss 1098000 vs loss 4658000 Sales 17.8 mln vs 17.3 mln Reuter | BIOSEARCH MEDICAL PRODUCTS INC <BPMI> 4TH QTR |
Qtly div 30 cts vs 30 cts prior Pay April 16 Record April Three Reuter | MOORE FINANCIAL GROUP INC <MFGI> SETS PAYOUT |
Industrial production rose 4.8 pct on a seasonally-adjusted basis in January compared with December while rising 2.8 pct from January last year Central Bureau of Statistics figures show. In December industrial production fell by 2.8 pct from November while rising 2.9 pct compared with December 1985. The industrial prod... | DUTCH JANUARY INDUSTRIAL PRODUCTION RISES 4.8 PCT |
Israeli jets bombed Palestinian targets east of the south Lebanese port town of Sidon in the first such attack this month local radio stations said. They said the planes attacked Palestinian targets in the Darb al-Sim area a few km (miles) east of Sidon and smoke was seen billowing over the area. Details were not immed... | ISRAELI JETS RAID SOUTH LEBANON |
The West German government expressed support for the U.S. Position in opposing the proposed European Community tax on vegetable oils and fats a U.S. Embassy spokesman said. The spokesman speaking from Bonn said We have good reason to think West Germany holds to its resistance to the proposed tax. Several top government... | BONN EXPRESSES SUPPORT FOR U.S. ON EC VEG OIL TAX |
The U.S. Senate has unanimously called for President Reagan immediately to force Japan to live up to a pledge to stop dumping its microchips and open its markets to U.S. Chipmakers. The Senate voted 93 to 0 to urge Reagan to impose penalties on Japanese high-technology products containing semiconductors in retaliation ... | SENATE WANTS JAPAN SEMICONDUCTER PACT ENFORCED |
Fleet Financial Group said it might have to sell its First Connecticut Corp subsidiary as a result of its proposed 1.3 billion dlr acquisition of Norstar Bancorp <NOR>. Under Connecticut banking law New England based bank holding companies such as Fleet are not allowed to operate Connecticut banks if they merge with... | FLEET <FLT> COULD FACE CONNECTICUT DIVESTITURE |
Japans economic policies face fierce international attack as hopes fade of a substantial drop in its trade surplus international monetary sources said. At a meeting this week in Paris senior government officials from major nations are considering an Organisation for Economic Cooperation and Development (OECD) staff rep... | JAPAN UNDER ATTACK OVER TRADE SURPLUS |
Geodome Resources Ltd said following receipt of a feasibility study from Raytheon Cos <RTN> Stearns Catalytic unit it will proceed with construction and pre-production stripping at its Sunbeam Mine in Custer County Idaho as quickly as possible. The company said the study found proven ore reserves of 3302000 short to... | GEODOME <GOEDF> TO START MINE CONSTRUCTION |
Finance Minister Kiichi Miyazawa said Japan plans to announce a package of economic measures immediately after the 1987/88 budget passes Parliament. The passage of the full budget is expected after May 20 as the government has decided to compile a 50-day stop-gap budget for the year starting April 1. An opposition boyc... | JAPAN ECONOMIC PACKAGE AFTER BUDGET - MIYAZAWA |
M.D.C. Asset Investors Inc which recently went public said its board declared an initial quarterly dividend of 45 cts per share payable April 15 to holders of record April One. Reuter | M.D.C. ASSET INVESTORS <MIR> IN INITIAL PAYOUT |
Japanese Agriculture Ministry officials said a study of agriculture subsidies by the Organisation for Economic Cooperation and Development OECD is still under way and will be completed sometime next month. The officials said the study has been inaccurate so far and they said Japan would comment on the final results. A ... | JAPAN SAYS OECD STUDY ON SUBSIDIES STILL ONGOING |
Federal Reserve Board Chairman Paul Volcker said the U.S. Trade deficit is a challenge for the U.S. Equal to the Soviet Union launching of Sputnik. The international challenge implicit in our huge trade deficit has become the 1980s equivalent to the launch of Sputnik by the Russians in the 1950s when we suddenly feared... | VOLCKER SAYS TRADE DEFICIT IS MAJOR CHALLENGE |
2nd qtr Shr four cts vs seven cts Net 500000 vs 900000 Revs 9200000 vs 10.5 mln 1st half Shr four cts vs 12 cts Net 600000 vs 1500000 Revs 17.6 mln vs 20.8 mln NOTE: Period ended February 28. Company corrects period in March 19 item Reuter | (CORRECTED)-MICROPRO INTERNATIONAL CORP <MPRO> NET |
C.O.M.B. Co said its board has approved a proposal to acquire the 50 pct of Cable Value Network held by its cable television industry partners in exchange for warrants for C.O.M.B. common. The company which already owns the other 50 pct of CVN said it plans to change its name to CVN. C.O.M.B. said the proposal calls fo... | C.O.M.B. <CMCO> TO ACQUIRE REST OF CABLE VALUE |
Home Savings and Loan Association Inc of Durham N.C. said its board declared a 20 pct stock dividend payable April 28 to holders of record April Three. Reuter | HOME SAVINGS DURHAM <HSLD> SETS STOCK DIVIDEND |
TWA IN LEGAL STIPULATION NOT TO PURSUE THE ACQUISITION OF USAIR | |
Top discount rate at U.K. Bill tender falls to 9.1250 pct | |
<Canada Northwest Energy Ltd> said it reached agreement in principle to sell one mln preferred shares by way of private placement to raise 32.5 mln dlrs for oil and gas exploration. The 5.4 pct cumulative redeemable convertible series D preferred shares will be flow-through shares entitling holders to tax deductions... | CANADA NORTHWEST TO SELL PREFERRED SHARES |
Indian and Australian businessmen signed a memorandum of understanding to boost two-way trade and joint industrial ventures in both countries spokesmen of the Indo-Australia Business Council told reporters. The Indian Council said it hoped Indias exports to Australia would improve in the next few months and reduce the ... | INDIA, AUSTRALIA AGREE TO IMPROVE TWO-WAY TRADE |
OHIO EDISON SELLS 30 PCT OF NUCLEAR INTEREST FOR 509 MLN DLRS | |
Strong south-easterly winds were keeping many vessels trapped in the ice off the Finnish and Swedish coasts in one of the worst icy periods in the Baltic for many years the Finnish Board of Navigation said. In Finland and Sweden up to 50 vessels were reported to be stuck in the ice and even the largest of the assisting... | HIGH WINDS KEEP VESSELS TRAPPED IN BALTIC ICE |
The European Community (EC) and Soviet-led Comecon ended talks here having made progress on setting up formal trade relations but no breakthrough because of Comecons refusal to recognise West Berlin as part of the EC delegates said. Negotiators were trying to reach agreement on the draft of a joint declaration setting ... | EC AND COMECON ENDS TALKS WITH PROGRESS |
Ohio Edison Co said it has completed the sale and leaseback of 30 pct of its 30 pct interest in Unit One of the Perry Nuclear Power Plant receiving 509 mln dlrs for the interest. The utility said the share of its interest in the 1205 megawatt generating plant was sold to a group of institutional investors which leased ... | OHIO EDISON <OEC> SELLS 30 PCT OF NUCLEAR INTEREST |
Geodome Resources Ltd said following receipt of a feasibility study from Raytheon Cos Stearns Catalytic unit it will proceed with construction and pre-production stripping at its Sunbeam Mine in Custer County Idaho as quickly as possible. The company said the study found proven ore reserves of 3302000 short tons gradin... | GEODOME SETS IDAHO GOLD/SILVER MINE CONSTRUCTION |
<Qintex Ltd> of Brisbane said it has arranged for a leading Australian financial institution it did not name to provide Princeville Development Corp with the letter of credit required by the terms of Qintexs proposed acquisition of Princeville. The company also said through yesterday when its tender offer for 330000... | QINTEX SAYS PRINCEVILLE <PVDC> IN CREDIT DEAL |
Stanley Interiors Corp said its first quarter shipments and operating income were lower than expected due to snowstorms in January and February that forced the closing of some of its manufacturing facilities for up to six days. Stanley said however that any reduction in first quarter operating income will be offset by ... | STANLEY INTERIORS <STHF> SAYS RESULTS REDUCED |
Wyman-Gordon Inc said it plans to invest 11.7 mln dlrs in two projects to improve the companys metals technology capabilities. The projects include the installation of a plasma cold hearth refining system in its Millbury facility for the production of nickel-base alloy power metal and titanium alloy electrodes the comp... | WYMAN-GORDON <WYMN> TO INVEST 11.7 MLN DLRS |
<Discovery West Corp> said it plans to sell convertible subordinated notes in a principal amount of between four mln and seven mln dlrs by way of a private placement through First Marathon Securities Ltd. Discovery West said the notes will be convertible into eight pct convertible subordinated debentures which in tu... | DISCOVERY WEST PLANS CONVERTIBLE NOTE ISSUE |
Trans World Airlines Inc said it reached an agreement yesterday in federal court with USAir Group Inc that prevents TWA from buying additional shares of USAir. Under the agreement TWA which holds about 15 pct of USAir stock will not buy more USAir shares before April 23 and will not do so after that date without giving... | TWA <TWA> IN COURT SETTLEMENT WITH USAIR <U> |
Treasury Secretary James Baker said that over the long-term the tax reform bill and lower marginal tax rates should increase compliance with the tax law and bring in additional revenue. In testimony before a senate appropriations subcommittee Baker said no savings in the Treasurys budgetary requirements wil be achieved... | TREASURY'S BAKER SEES INCREASED TAX COMPLIANCE |
The Bank of England said it had given the money market a further 186 mln stg assistance in the afternoon session. This brings the Banks total help so far today to 945 mln stg and compares with its revised forecast of a one billion stg deficit. The central bank bought bank bills outright comprising 51 mln stg in band on... | U.K. MONEY MARKET GETS 186 MLN STG AFTERNOON HELP |
CHICAGO PACIFIC CORP TO GET 40 MLN DLRS FROM SETTLEMENT OF HOOVER PLC PENSION FUND | |
<Rayrock Yellowknife Resources Inc> said it plans to sell 24 mln dlrs of convertible subordinated notes by way of a private placement through First Marathon Securities Ltd. The notes will be convertible into 7.5 pct convertible subordinated debentures which in turn will be convertible into 2.4 mln subordinate voting... | RAYROCK TO ISSUE 24 MLN DLRS OF NOTES |
Stanley Interiors Corp said it filed with the Securities and Exchange Commission a registration statement covering a 30 mln dlr issue of convertible subordinated debentures due 2012 plus an additional 4.5 mln dlrs of the securities to cover over-allotments. Proceeds will be used to repay in full the companys indebtedne... | STANLEY INTERIORS <STHF> TO SELL CONVERTIBLES |
Asamera Inc said it has agreed for Merrill Lynch and Co Incs <MER> Merrill Lynch Canada Inc subsidiary to offer three mln Asamera common shares at 13.625 Canadian dlrs each subject to all necessary U.S. and Canadian regulatory approval. Reuter | ASAMERA <ASM> TO OFFER THREE MLN SHARES |
Mthly div 16-1/2 cts vs 16-1/2 cts prior Pay May 15 Record March 31 Reuter | CRI INSURED MORTGAGE INVESTMENTS LP <CRM> PAYOUT |
A teachers strike has spread from Lusaka to the whole of Zambia and a walkout by nurses has virtually paralyzed hospitals in the northern Copperbelt the state-owned Zambia Daily Mail newspaper said today. The teachers and nurses are demanding hefty pay raises including a 50 pct increase in basic salary. But their strik... | ZAMBIAN SCHOOL AND HOSPITAL STRIKES SPREAD |
American Motors Corps board of directors is meeting this morning in New York to consider Chrysler Corps <C> 1.5 billion dlr takeover offer an American Motors spokesman said. The spokesman reiterated statements made earlier in the week that the regularly scheduled meeting was being held. The spokesman would not comme... | AMERICAN MOTORS <AMO> BOARD MEETING ON TAKEOVER |
Chicago Mercantile Exchange floor traders and commission house representatives are guesstimating todays hog slaughter at about 300000 to 307000 head versus 295000 week ago and 314000 a year ago. Saturdays hog slaughter is guesstimated at about 70000 to 90000 head. Cattle slaughter is guesstimated at about 122000 to 126... | HOG AND CATTLE SLAUGHTER GUESSTIMATES |
Belgrade trade union leaders have joined attacks on a controversial wage freeze in Yugoslavia. Miodrag Lazarevic president of the Belgrade trade unions council said last night the government would be responsible for the effects of the law imposing the wage freeze. The law enacted February 27 and remaining in force unti... | BELGRADE UNIONS HIT PAY FREEZE, STRIKES SPREAD |
Australian Treasurer Paul Keating said he expects the countrys 1986/87 current account deficit to be one billion dlrs lower than the 14.7 billion forecast in the August budget. Keating told a financiers dinner that Februarys 750 mln dlr deficit against Januarys 1.23 billion was in the groove of the governments expectat... | KEATING SEES LOWER AUSTRALIAN CURRENT DEFICIT |
Sharp price hikes for food and fuel planned by the government could provoke an open confrontation with workers and endanger Polands fragile post-Solidarity stability a government trade union leader has warned. Romuald Sosnowski deputy chairman of the national trade union alliance OPZZ said the unions strong rejection o... | POLISH UNIONS WARN AGAINST PRICE HIKES |
Swank Inc said it knows of no corporate development to account for the volume of activity in its stock yesterday and can only assume institutional trading was the cause. In New York Stock Exchange composite trading yesterday Swank stock rose 7/8 to 15-3/4 on volume of 104700 shares. Reuter | SWANK INC <SNK> CAN'T EXPLAIN STOCK ACTION |
Guilford Mills Inc is raising 75 mln dlrs via an offering of convertible subordinated debentures due 2012 with a six pct coupon and par pricing said sole manager Bear Stearns and Co. The debentures are convertible into the companys common stock at 44.25 dlrs per share representing a premium of 25.08 pct over the stock ... | GUILFORD MILLS <GFD> SELLS CONVERTIBLE DEBT |
Marine Midland Banks Inc is offering 125 mln dlrs of subordinated capital notes due 1997 yielding 8.66 pct said lead manager First Boston Corp. The notes have an 8-5/8 pct coupon and were priced at 99.80 to yield 145 basis points more than comparable Treasury securities. Non-callable to maturity the issue is rated A-3 ... | MARINE MIDLAND <MM> SELLS CAPITAL NOTES |
A Portuguese official today said no more problems remained in settling the future of Macao and Chinas Foreign Ministry said an important announcement would be made at the end of talks on the tiny territory. A Chinese Foreign Ministry spokesman indicating the two countries were close to agreement on the handover of Maca... | LISBON OFFICIAL SAYS "NO PROBLEMS" ON MACAO |
NORANDA GETTING 41.6 MLN DLRS FROM GOVERNMENT TO CUT ACID RAIN EMISSIONS 50 PCT - OFFICIAL | |
Treasury Secretary James Baker said in a newspaper interview that he supports the current course of Federal Reserve Board monetary policy. The course of Fed policy is quite adequate as far as we are concerned Baker said in an interview with the New York Times. In the interview Baker declined to comment about the recent... | TREASURY'S BAKER SUPPORTS FED MONETARY POLICY |
Universal Resources Corp said it is holding a special shareholders meeting this morning to vote on the previously-proposed merger between it and Questar Corp <STR>. Universal whose stock was delayed this morning on the American Stock Exchange said it will release a statement later in the day on the vote. Reuter | UNIVERSAL RESOURCES <UVR> TO VOTE ON MERGER |
Sonex Research Inc said its modified 1986 British Ford Escort passed the European emissions test but reported the engine consumed 35 pct more fuel than the stock engine. Sonex said its engine is not equipped with a catalytic converter and does not use exhaust gas recirculation or an emission air pump. It said the compa... | SONEX RESEARCH <SONX> CUSTOM AUTO USES MORE GAS |
Louisiana Pacific Corp has agreed to pay 3475000 dlrs for the bankrupt Harris Pine Sawmill in Pendleton Ore. the mills bankruptcy trustee said. Louisiana Pacific refused to indicate whether it would repoen the lumber mill which was closed after the sawmill owned by the Seventh Day Adventist Church filed a bankruptcy pe... | LOUISIANA PACIFIC <LPX> BUYS OREGON SAWMILL |
<International Pagurian Corp Ltd> said it had net profit of 3.3 mln dlrs or three cts a share for the period August 15 to December 31 1986 based on 55.2 mln shares outstanding. Revenues for the full year ended December 31 1986 were 5.5 mln dlrs and net assets at year end were 317.5 mln dlrs. The company did not disc... | INTERNATIONAL PAGURIAN HAS FIVE MONTH PROFIT |
South African year-on-year broadly defined M-3 money supply growth slowed to 8.62 pct in January from 9.32 pct in December Reserve Bank figures show. M-3 fell to 77.98 billion rand in January from 79.31 billion in December while preliminary February figures show M-3 at 79.42 billion rand for a year-on-year rise of 10.6... | S. AFRICAN M-3 MONEY GROWTH SLOWS IN JANUARY |
ERC International Inc said it has received a three-year 17 mln dlr U.S. Navyt contract to provide engineering technical and administrative support sevices on weapons systems subsystems and associated management manpower and support systems. Reuter | ERC INTERNATIONAL <ERC> GETS 17 MLN DLR CONTRACT |
Shr loss eight cts vs loss 20 cts Net loss 469000 vs loss 1104000 Revs 3093000 vs 3056000 Nine mths Shr loss 19 cts vs loss 29 cts Net loss 1098000 vs 1646000 Revs 9562000 vs 12.2 mln Reuter | COMPUSCAN INC <CSCN> 3RD QTR FEB 28 NET |
<Majestic Electronic Stores Inc> said it intends to make a normal course issuer bid to purchase up to five pct of its 5.2 mln outstanding common shares on the open market during the 12 month period commencing April 13 1987. The company said the purpose of the proposed issuer bid is to avoid possible dilution of shar... | MAJESTIC ELECTRONICS PLANS ISSUER BID |
First Federal Bank FSB said it has entered into a letter of intent to merge into BankEast Corp for 60 dlrs per First Federal share in BankEast common stock. First Federal said subject to certain adjustments including First Federals earnings prior to the close of the deal each share of its common stock shall not be conv... | FIRST FEDERAL <FFBN> MERGING INTO BANKEAST <BENH> |
Illinois Tool Works Inc said it completed the sale of its Drill and End Mill division Pine Bluff Arkansas and Eclipse Counterbore division Detroit to newly-formed Eclipse Industrial Pruducts Inc based in St. Louis. Terms were not disclosed. All employees at both locations will be retained it added. Reuter | ILLINOIS TOOL WORKS <ITW> SELLS TWO DIVISIONS |
Home Intensive Care Inc <KDNY> said holders of 431093 shares of its callable cumulative convertible preferred of the 499500 outstanding were exercised their conversion right prior to the end of the companys offer of 2.2 common shares for each preferred. It said holders of the remaining preferred have the option of c... | MOST HOME INTENSIVE PREFERRED <KDNYP> CONVERTED |
Qtly div 2-1/2 cts vs 2-1/2 cts prior Pay May One Record April One Reuter | NATIONAL PATENT DEVELOPMENT CORP <NPD> IN PAYOUT |
Qtly div 10 cts vs 10 cts prior Pay April 15 Record March 30 Reuter | THOMPSON MEDICAL CO INC <TM> SETS QUARTERLY |
The Federal Farm Credit Banks Funding Corp said its will offer a total of 1.7 billion dlrs worth of bonds on March 25. The package includes 540 mln dlrs of three-month bonds and 1.17 billion dlrs of six-month bonds. The issues will be dated and delivered on April 1. The system has 1.6 billion dlrs of bonds maturing on ... | U.S. FARM CREDIT BANK TO SELL BONDS |
Gulf Canada Corp said a discharge of material at its Amauligak drilling site in the Beaufort Sea caused no danger to the environment. Yesterday the federal department of energy charged Gulf Canada with eight counts of illegal dumping for discharging powdered cement and drilling mud between September 23 and 30 last year... | GULF CANADA <GOC> ASSERTS NO DAMAGE FROM SPILL |
British Columbia will raise income taxes and its small business corporate tax to reduce the provincial budget deficit while continuing social programs finance minister Mel Couvelier said. He said the province will reduce its budget deficit to 850 mln Canadian dlrs in 1987-88 from the current years 1.17 billion dlrs. To... | BRITISH COLUMBIA RAISES TAXES TO CUT DEFICIT |
Year to September 30 1986 Domestic group net profit 69.9 mln marks vs 61.4 mln. Parent net profit 53.6 mln vs 43.8 mln. Dividend six marks vs same. Parent payment to disclosed reserves 20 mln vs 15 mln. REUTER | METALLGESELLSCHAFT AG <METG.F> |
Pubco Corp said its board declared a dividend distribution of one common stock purchase right on each outstanding share of Pubcos common stock. It said each right will entitle shareholders to buy one share of common stock at an exercise price of three dlrs. The rights will be exercisable only if a person or group acqui... | PUBCO <PUBO> DECLARES DIVIDEND RIGHT |
CORRECTED - NORANDA GETTING 83.2 MLN DLRS FROM GOVERNMENTS TO CUT ACID RAIN EMISSIONS 50 PCT - OFFICIAL | |
Chicago Pacific Corp said it received about 40 mln dlrs in cash from a surplus in the pension fund of Hoover Plc its U.K. subsidiary. As part of an agreement to refund the amount to the company Hoover employee and pensioner benefits have been significantly enhanced the companys annual report shows. In addition Chicago ... | CHICAGO PACIFIC <CPAC> SETTLES HOOVER OVERFUNDING |
Tech Data Corp said its board declared a three-for-two stock split payable April 30 to holders of record April 1. Reuter | TECH DATA <TECD> SETS THREE FOR TWO SPLIT |
Comstock Group Inc said John Halecky Jr resigned his posts of chief financial officer executive vice president and director. Frank MacInnis vice president and director was named as the new chief financial officer the company said. Reuter | COMSTOCK GROUP <CTTK> FINANCIAL OFFICER QUITS |
TREASURY'S BAKER REITERATES OPPOSITION TO CLOSING NON-BANK BANK LOOPHOLE | |
Vertex Industries Inc and <Computer Transceiver Systems Inc> jointly announced an agreement for Vertex to acquire a 60 pct interest in Computer after it completes a proposed reorganization. Computer has been in reorganization proceedings under chapter 11 since September 1986. The companies said the agreement would a... | VERTEX <VETX> TO BUY COMPUTER TRANSCEIVER STAKE |
Rent-A-Center Inc said its directors approved a three-for-two stock split payable April 20 record April 3. Reuter | RENT-A-CENTER <RENT> VOTES 3 FOR 2 SPLIT |
Treasury Secretary James Baker said the administration still opposes Senate Banking Committee legislation that would close a key loophole in federal bankinng law. The loophole has spawned a proliferation of limited service banks known as non-bank banks that can engage in risky activities barred to traditional banks. Ba... | TREASURY'S BAKER OPPOSES CLOSING BANK LOOPHOLE |
USACafes LP said its board declared a quarterly dividend of 20 cts per unit -- its first since converting to a limited partnership. The company as USACafes Inc had paid a quarterly dividend of nine cts per share. It said the restructuring as a partnership has substantially increased the cash available for distribution ... | USACAFES <USF> SETS HIGHER DIVIDEND |
Atari Corp said it filed with the Securities and Exchange Commission a registration statement covering a 75 mln dlr issue of convertible subordinated debentures due 2012. Proceeds will be used to expand the companys business through capital expenditures and acquisitions and for general corporate purposes Atari said. Th... | ATARI <ATC> TO SELL CONVERTIBLE DEBENTURES |
<Cooper Canada Ltd> said it has received takeover offers from a number of companies. The company also said that discussions are continuing but no definitive arrangements have been made. It gave no further details. Reuter | COOPER CANADA SAID IT RECEIVED TAKEOVER OFFERS |
BPI Systems Inc said it introduced an enhanced version of its Entry series general accounting software Version C.14 that includes budgeting more printing options and additional features. The company also said it introduced an accounting software package Entry one that sells for 89 dlrs. Reuter | BPI SYSTEMS <BPII> LAUNCHES PRODUCTS |
Grain analysts surveyed by the American Soybean Association ASA projected acreage this year at 59.1 mln acres of soybeans and 64.7 mln acres of corn. In 1986 farmers planted 61.5 mln acres of soybeans and 76.7 mln acres of corn according to the February 9 USDA supply/demand report. The USDA is to release its 1987 plant... | U.S. GRAIN ANALYSTS SEE LOWER CORN, SOY PLANTING |
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