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Bankers Trust New York Corp said it has placed its approximately 540 mln dlrs of medium- and long-term loans to Brazil on non-accrual status and that first-quarter net income will be reduced by about seven mln dlrs as a result. Brazil suspended interest payments on its 68 billion dlrs of medium- and long-term debt on February 22. U.S. banking regulations do not require banks to stop accruing interest on loans until payments are 90 days overdue, but Bankers Trust said it acted now because of "the high potential of a continued suspension that would result in reaching the 90-day limit in the second quarter of 1987." Assuming no cash payments at current interest rates are received for the rest of 1987, Bankers Trust estimated that full-year net income would be reduced by about 30 mln dlrs. Bankers Trust said it assumes that debt negotiations between Brazil and its commercial bank lenders will lead to the resumption of interest payments. The negotiations resume in New York on Friday when central bank governor Francisco Gros is expected to ask banks for a 90-day rollover of some 9.5 billion dlrs of term debt that matures on April 15. Reuter

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8-APR-1987 09:44:45.81

BANKERS TRUST <BT> PUTS BRAZIL ON NON-ACCRUAL

Shr profit 63 cts vs 22 cts Net 775,868 vs 276,446 Revs 2,255,742 vs 706,130 Reuter

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"3968"

"14985"

8-APR-1987 09:45:03.92

<FIRST MERCANTILE CURRENCY FUND INC> 1ST QTR NET

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"3969"

"14986"

8-APR-1987 09:51:13.52

UK INTERVENTION BD SAYS EC SOLD 118,350 TONNES WHITE SUGAR AT REBATE 46.496 ECUS.

West German Finance Minister Gerhard Stoltenberg said today's meetings of major industrial countries would look at ways of strengthening the Paris accord on stabilizing foreign exchange rates. Stoltenberg told journalists he saw no fundamental weakness of the February 22 agreement of the Group of Five countries and Canada to keep exchange rates near the then-current levels. But he declined to say what measures would be discussed ahead of a communique of the Group of Seven ministers later today. Stoltenberg and Bundesbank President Karl Otto Poehl said the importance of the Paris agreement, also known as the Louvre accord, had been underestimated. Stoltenberg said there is greater agreement now among major countries than six months ago, at the time of the annual meeting of the International Monetary Fund and World Bank, marked by sharp discord between the United States and its major trading partners. "There is no fundamental weakness of the Paris accord," he said. "We will be looking at ways of strengthening it, but I do not want to discuss that here. Stoltenberg said the Louvre agreement was working despite a "slight firming" of the yen against the dollar. And Poehl noted that the dollar/mark parity was unchanged since February 22 without the Bundesbank having had to sell marks to support the dollar. "The Louvre agreement has been honored by the market," he said. Poehl said West Germany had lived up to its side of the bargain in Paris by preparing the way for tax cuts to be accelerated as a way of stimulating growth. Poehl said, however, that Japan had not yet fulfilled its pledges for economic stimulation. "And we will have to see if the United States is able to do what they promised in Paris on reducing the budget deficit -- and get it through Congress," he added. Stoltenberg reiterated West German concern about a further fall in the dollar, noting that the mark was up 85 pct against the dollar and nearly 20 pct on a trade-weighted basis. "You cannot expect that to go unnoticed in an economy. And it is not just a German problem, it is a European problem," he said. REUTER

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"14987"

8-APR-1987 09:52:12.98

STOLTENBERG SEES MOVES TO STRENGTHEN PARIS ACCORD

A total 118,350 tonnes of current series white sugar received export rebates of a maximum 46.496 European Currency Units (Ecus) per 100 kilos at today's European Community (EC) tender, the U.K. Intervention Board said. Out of this, traders in the U.K. Received 37,800 tonnes, in France 34,500, in West Germany 20,000, in Belgium 18,500, in Spain 5,800 and in Denmark 1,750 tonnes, it added. Earlier today, London traders had declined to give a projected view on the level of subsidy although some said total tonnage awards would be around 60,000 tonnes. Paris traders foresaw between 60,000 and 100,000 tonnes being authorised for export at a 46.40/46.50 Ecu subsidy. Cumulative sales authorisations for the current season (1986/87) now stand at 2,194,970 tonnes (43 weeks). Last week saw 102,350 tonnes whites authorised for export under licences to end-Sep at the higest ever rebate of 46.864 European Currency Units (Ecus) per 100 kilos. REUTER

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"14988"

8-APR-1987 09:53:50.78

U.K. INTERVENTION BOARD DETAILS EC SUGAR SALES

<Noranda Inc> said it will sell 150 mln dlrs of adjustable convertible subordinated debentures to a group of investment dealers led by Gordon Capital Corp. The debentures will be convertible into Noranda common shares until April 29, 2007 at 35 dlrs per share. Interest rate will be five pct subject to upward adjustment based on dividends paid on common shares, Noranda said. Reuter

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"14990"

8-APR-1987 10:00:39.63

NORANDA TO SELL 150 MLN DLRS IN DEBENTURES

The issue amount of Mafina BV's seven year two pct Swiss franc bond with equity warrants has been set at 250 mln Swiss francs, lead manager Credit Suisse said. REUTER

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"3975"

"14992"

8-APR-1987 10:03:35.80

MAFINA BOND WITH WARRANTS SET AT 250 MLN SFR

Mead Corp said the outlook for its major paper markets looks strong for the second quarter and augurs well for its earnings in 1987. "The generally strong outlook bodes well for significantly improved earnings this year," Burnell Roberts, chairman and chief executive officer said. Earlier, the company reported first quarter earnings of 34.2 mln dlrs, or 1.09 dlrs a share, versus 20.3 mln dlrs, or 65 cts a share, in last year's first quarter. In 1986 the company reported earnings from continuing operations of 109.3 mln dlrs, or 3.50 dlrs a share. Mead said its first quarter benefitted from stronger market conditions and improved operations. "The combination of capital improvement programs and more employee involvement has been paying off throughout our paper operations," Roberts said. He added that Mead's pulp and paperboard businesses are operating well as prices have improved and strong demand has placed most products in a sold-out position through the middle of the year. Mead said sales of its unbleached coated paperboard was particularly strong, up 13 pct versus the first quarter 1986. Reuter

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"4419"

"14993"

8-APR-1987 10:04:57.32

MEAD <MEA> EXPECTS IMPROVED EARNINGS THIS YEAR

Shr profit 20 cts vs loss three cts Net profit 849,299 vs loss 82,512 Revs 7,929,138 vs 3,849,224 Reuter

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"3978"

"14995"

8-APR-1987 10:05:28.11

AMERTEK INC <ATEKF> 1ST QTR NET

Shr primary 78 cts vs 68 cts Shr diluted 75 cts vs 68 cts Qtrly div six cts vs five cts Net 7,929,000 vs 6,569,000 Revs 78.7 mln vs 61.9 mln NOTE: Pay date for the qtrly div is April 28 for shareholders of record April 20. Reuter

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"3981"

"14998"

8-APR-1987 10:06:35.73

ALEX BROWN INC <ABSB> 1ST QTR MARCH 27 NET

4thh qtr Feb 28 Shr 46 cts vs 22 cts Net 2,139,034 vs 854,182 Sales 30.8 mln vs 20.6 mln Avg shrs 5,280,854 vs 4,559,646 Year Shr 1.34 dlrs vs 1.15 dlrs Net 5,935,117 vs 4,156,171 Sales 107.2 mln vs 71.6 mln Avg shrs 5,281,387 vs 3,616,183 NOTE: Town and Country Jewelry Manufacturing Corp. Reuter

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"3983"

"15000"

8-APR-1987 10:07:26.62

TOWN AND COUNTRY JEWELRY MANUFACTURING <TCJC>

Paxar Corp said it has acquired Thermo-Print GmbH of Lohn, West Germany, a distributor of Paxar products, for undisclosed terms. Reuter

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"3984"

"15001"

8-APR-1987 10:08:12.27

PAXAR CORP <PAKS> MAKES ACQUISITION

Shr 10 cts vs 32 cts Net 975,000 vs 3,145,000 Sales 159.1 mln vs 147.3 mln Reuter

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"3985"

"15002"

8-APR-1987 10:08:15.55

<MARK'S WORK WEARHOUSE LTD> YEAR JAN 31 NET

Canadian Bashaw Leduc Oil and Gas Ltd said it agreed to merge with Erskine Resources Ltd. Terms were not disclosed. Ownership of the combined company with 18.8 pct for the current shareholders of Canadian Bashaw and 81.2 pct to the current shareholders of Erskine, the companies said. Reuter

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"3987"

"15004"

8-APR-1987 10:08:26.93

CANADIAN BASHAW, ERSKINE RESOURCES TO MERGE

Entourage International Inc said it had a first quarter loss of 104,357 dlrs, after incurring 70,000 dlrs in costs for an internal audit, a report for shareholders and proxy soliciation and 24,000 dlrs in startup expenses for opening London offices. The company went public during 1986. Entourage also said it has started marketing a solid perfume packaged in a lipstick tube called "Amadeus," retailing at 15 dlrs. The company also said it has acquired North Country Media Group, a video productions company. Reuter

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"3988"

"15005"

8-APR-1987 10:11:16.60

ENTOURAGE <ENTG> HAS FIRST QUARTER LOSS

Shr 58 cts vs 29 cts Net 3,141,000 vs 1,440,000 Sales 24.7 mln vs 13.0 mln Reuter

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"3989"

"15006"

8-APR-1987 10:11:26.26

<MR. JAX FASHIONS INC> YEAR FEB 28 NET

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"3994"

"15011"

8-APR-1987 10:17:29.78

F.W. WOOLWORTH CO SAYS IT HIKES DIVIDEND TO 33 CTS A SHARE FROM 28 CTS

Qtly div 33 cts vs 28 cts prior Pay June 1 Record May 1 Reuter

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"15012"

8-APR-1987 10:19:42.41

F.W. WOOLWORTH CO <Z> HIKES DIVIDEND

Roughly half of this year's expected 130,000 hectare Dutch sugar beet crop is already in the ground, a spokesman for Suiker Unie, the largest sugar processor in the Netherlands, told Reuters. Conditions are generally good and the average sowing date for the crop is expected to be around April 11, against April 23 last year, and a 10-year average of April 14, the spokesman added. "It is far too early yet to say what kind of output we can expect when it comes to harvest in September, but at least the crop is off to a very good start," he said. Last year, the Netherlands planted a record 137,600 hectares of sugar beet and produced a record 1.2 mln tonnes of white sugar, substantially more than the country's combined "A" and "B" quota of 872,000 tonnes. This year, however, a self-imposed quota system has been introduced with the aim of cutting plantings to 130,000 hectares and reducing white sugar output to around 915,000 tonnes to minimise the amount of non-quota "C" sugar produced. Only farmers with a record of growing suger beet have been allotted quotas. This is expected to prevent the area being boosted by dairy or cereal farmers moving into sugar. Reuter

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"3996"

"15013"

8-APR-1987 10:20:02.86

DUTCH SUGAR BEET PLANTING HALF FINISHED

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"3999"

"15016"

8-APR-1987 10:25:54.05

J.P. MORGAN AND CO INC 1ST QTR SHR 1.22 DLRS VS 1.28 DLRS

The EC Commission confirmed it granted export licences for 118,350 tonnes of current series white sugar at a maximum export rebate of 46.496 European Currency Units (ECUs) per 100 kilos. Out of this, traders in France received 34,500 tonnes, in the U.K. 37,800, in West-Germany 20,000, in Belgium 18,500, in Spain 5,800 and in Denmark 1,750 tonnes. REUTER

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"4000"

"15017"

8-APR-1987 10:28:08.79

EC COMMISSION DETAILS SUGAR TENDER

Today's dollar convertible eurobond for Federal Realty Investment Trust has been increased to 100 mln dlrs from the initial 75 mln, lead manager Salomon Brothers International said. The coupon has been fixed at 5-1/4 pct compared with the indicated range of 5-1/4 to 5-1/2 pct. The conversion price has been fixed at 30-5/8 dlrs compared with last night's close in the U.S. Of 25-1/2 dlrs. This represents a premium of 20 pct. The put option after seven years was priced at 120 pct to give the investor a yield to the put of 7.53 pct. REUTER

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"4002"

"15019"

8-APR-1987 10:30:58.28

FEDERAL REALTY CONVERTIBLE INCREASED, PRICED

Volkswagen AG <VOWG.F>, VW, is due to make a formal announcement about its 1986 dividend tomorrow after saying the 1985 level of 10 marks per ordinary share would be held, despite massive losses because of a suspected foreign currency fraud. A spokesman said VW's supervisory board will meet tomorrow to discuss the payout. A statement will be made afterwards. VW has also said disclosed profits for 1986 will reach their 1985 level, despite provisions of a possible 480 mln marks linked to the currency affair. The figure is virtually the same as the 477 mln mark 1985 parent company net profit. When VW first confirmed the currency scandal on March 10 it said the management board would propose an unchanged 10-mark dividend to the supervisory board. A dividend of 11 marks would be proposed for the company's new preference shares. Share analysts said they saw supervisory board approval of the management board proposal as virtually a formality. "Anything else would be more than a surprise," one said. Company sources said VW would have to dig into reserves to maintain the disclosed profit. Parent company reserves stood at around three billion marks at end-1985. Reuter

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"4003"

"15020"

8-APR-1987 10:34:45.43

VOLKSWAGEN DIVIDEND DECISION DUE TOMORROW

Toronto Dominion Bank, Nassau Branch is issuing a 40 mln Australian dlr eurobond due May 15, 1990 paying 14-1/2 pct and priced at 101-3/8 pct, lead manager Hambros Bank Ltd said. The non-callable bond is available in denominations of 1,000 Australian dlrs and will be listed in London. The selling concession is one pct, while management and underwriting combined will pay 1/2 pct. The payment date is May 15. REUTER

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"4004"

"15021"

8-APR-1987 10:35:24.55

TORONTO DOMINION UNIT ISSUES AUSTRALIAN DLR BOND

Toronto Dominion Bank, Nassau Branch is issuing a 40 mln Australian dlr eurobond due May 15, 1990 paying 14-1/2 pct and priced at 101-3/8 pct, lead manager Hambros Bank Ltd said. The non-callable bond is available in denominations of 1,000 Australian dlrs and will be listed in London. The selling concession is one pct, while management and underwriting combined will pay 1/2 pct. The payment date is May 15. Reuter

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"4005"

"15022"

8-APR-1987 10:36:31.07

TORONTO DOMINION UNIT ISSUES AUSTRALIAN DLR BOND

Shr 1.40 dlrs vs 1.16 dlrs Net 5,776,000 vs 4,429,000 Avg shrs 4,132,828 vs 3,834,117 Reuter

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"4006"

"15023"

8-APR-1987 10:37:10.01

CITYTRUST BANCORP INC <CITR> 1ST QTR NET

Southmark Corp said it acquired 28 long-term care facilities containing for approximately 70 mln dlrs in cash. It said the facilities, which contain approximately 2,500 beds in seven western states, were bought from Don Bybee and Associates, of Salem,Ore. The acquistion brings to 57 health care facilities acquired in the last three months, the company said. Reuter

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"4007"

"15024"

8-APR-1987 10:37:30.96

SOUTHMARK <SM> ACQUIRES 28 NURSING HOMES

Helen of Troy Corp said it filed with the Securities and Exchange Commission a registration statement covering a 20 mln dlr issue of covertible subordinated debentures due 2007. Proceeds will be used for general corporate purposes, including possible repayment of bank debt, product development and possible acquisitions, Helen of Troy said. The company named Drexel Burnham Lambert Inc as sole underwriter of the offering. Reuter

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"4008"

"15025"

8-APR-1987 10:38:13.19

HELEN OF TROY <HELE> FILES CONVERTIBLE OFFERING

shr 1.22 dlrs vs 1.28 dlrs net 226.4 mln vs 233.9 mln assets 80.45 billion vs 70.23 billion loans 35.16 billion vs 35.99 billion deposits 45.22 billion vs 39.68 billion return on assets 1.14 pct vs 1.35 pct return on common equity 18.20 pct vs 22.08 pct NOTE: 1987 qtr net was reduced by 20 mln dlrs because 1.3 billion dlrs of loans to Brazil were placed on non-accrual. loan loss provision 35 mln dlrs vs 70 mln year earlier. Reuter

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"4009"

"15026"

8-APR-1987 10:38:19.91

J.P. MORGAN AND CO INC <JPM> 1ST QTR NET

Shr 74 cts vs 67 cts Net 8,067,000 vs 7,317,000 Reuter

"NORM"

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"4010"

"15027"

8-APR-1987 10:38:37.99

FIRSTBANC CORP OF OHIO <FBOH> 1ST QTR NET

Qtr ends Feb 28 Shr Class A 61 cts vs 48 cts Shr Class B 59 cts vs 46 cts Net 2,358,000 vs 1,876,000 Revs 122,508,000 vs 105,871,000 Six mths Shr Class A 1.15 dlrs vs 86 cts Shr Class B 1.13 dlrs vs 84 cts Net 4,485,000 vs 3,378,000 Revs 242,453,000 vs 210,117,000 NOTE: qtr and six mths prior figures reflect two-for-one stock split in August 1986. Reuter

"NORM"

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"4011"

"15028"

8-APR-1987 10:39:08.80

MAYFAIR SUPER MARKETS INC <MYFRA> 2ND QTR NET

Hanover Insurance Co said its stockholders approved a two-for-one stock split. As a result of the split, Hanover said it increases the number of authorized shares of capital stock from 10.4 mln, having a par value of one dlr, to 20.9 mln, also having a par value of one dlr. The stock split is payable April 30 to stockholders of record April 10, Hanover said. Reuter

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"4012"

"15029"

8-APR-1987 10:39:16.52

HANOVER INSURANCE <HINS> GET SPLIT APPROVAL

National Guardian Corp said it has acquired a number of security services companies recently, with aggregate revenues of about 3,500,000 dlrs, for an aggregate cost of about 2,700,000 dlrs. It said it acquired guard service companies C.S.C. Security Gaurd Service of Paramus, N.J., from Cartel Security Consultants Inc, the Guard Services Division of Security Services of America of Wayne, N.J., Capital Investigations and Protective Agency of Hackensack, N.J., and Meyer Detective Agency Inc of National Park, N.J. The company said it bought alarm service operations Certified Security Services Inc of Key West, Fla., Custom Security Services of Myrtle Beach, S.C., A-T-E Security Group Inc of Houston and the Louisville, Kent and Nashville, Tenn, offices of Wells Fargo Alarm Services. Reuter

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"4427"

"15031"

8-APR-1987 10:39:29.93

NATIONAL GUARDIAN <NATG> MAKES ACQUISITIONS

Qtly distribution 7-1/2 cts vs 7-1/2 cts prior (excluding 2-1/2 cts special) Pay April 30 Record April 22 NOTE: Full name is Universal Medical Buildings L.P. Reuter

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"4015"

"15032"

8-APR-1987 10:40:25.85

UNIVERSAL MEDICAL <UMBIZ> DISTRIBUTION SET

The Zambian government has no immediate plans to follow last week's increase in the producer price of maize with a hike in the retail price of maize meal, an official of the ruling party said. Last December, a 120 pct increase in the consumer price for refined maize meal, a Zambian staple, led to food riots in which at least 15 people died. That price increase, which President Kenneth Kaunda later revoked, followed pressure by the International Monetary Fund (IMF) to reduce the government's subsidy bill. However, if the producer price rise, from 6.10 dlrs to 8.67 dlrs per 90-kg bag, is not accompanied by a retail price increase, the government will have to spend more on subsidies, a practice discouraged by the IMF. "There is no way out but to raise the subsidy levels of meal. It (the government) would have to choose between the demands of the IMF and those of the people," a Ministry of Agriculture economist said. Reuter

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"4016"

"15033"

8-APR-1987 10:43:34.24

ZAMBIA DOES NOT PLAN RETAIL MAIZE PRICE HIKE

Wedgestone Realty Investors Trust said shareholkders have approved the acquisition of its advisor, Wedgestone Advisory Corp, for 600,000 shares. It said completion is expected to take place April 10. Reuter

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"4020"

"15037"

8-APR-1987 10:45:50.03

WEDGESTONE REALTY <WDG> ACQUISITION APPROVED

Sun Co's Sun Refining and Marketing Co subsidiary said it is decreasing the price it charges contract barge customers for heating oil in ny harbor by 0.50 cent a gallon, effective today. The 0.50 cent a gallon price reduction brings Sun's heating oil contract barge price to 50 cts a gallon, the company said. Reuter

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"4021"

"15038"

8-APR-1987 10:51:43.03

SUN <SUN> CUTS HEATING OIL BARGE PRICE

"BRIEF"

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"4022"

"15039"

8-APR-1987 10:52:38.11

MOODY'S AFFIRMS AVCO FINANCIAL'S LONG-TERM DEBT, CUTS COMMERCIAL PAPER

The coupon on the 75 mln dlr, 15-year, convertible eurobond for Atari Corp has been set at 5-1/4 pct compared with indicated range of five to 5-1/4 pct, lead manager Paine Webber International said. The conversion price was set at 32-5/8 dlrs, representing a premium of 20.38 pct over yesterday's Atari share close of 27 dlrs. REUTER

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"4025"

"15042"

8-APR-1987 10:58:52.50

FINAL TERMS SET ON ATARI CORP CONVERTIBLE EUROBOND

Argentine grain producers adjusted their yield estimates for the 1986/87 coarse grain crop downward in the week to yesterday after the heavy rains at the end of March and beginning of April, trade sources said. They said sunflower, maize and sorghum production estimates had been reduced despite some later warm, dry weather, which has allowed a return to harvesting in some areas. However, as showers fell intermittently after last weekend, producers feared another spell of prolonged and intense rain could cause more damage to crops already badly hit this season. Rains in the middle of last week reached an average of 27 millimetres in parts of Buenos Aires province, 83 mm in Cordoba, 41 in Santa Fe, 50 in Entre Rios and Misiones, 95 in Corrientes, eight in Chaco and 35 in Formosa. There was no rainfall in the same period in La Pampa. Producers feared continued damp conditions could produce rotting and lead to still lower yield estimates for all the crops, including soybean. However, as the lands began drying later in the week harvesting advanced considerably, reaching between 36 and 40 pct of the area sown in the case of sunflower. Deterioration of the sunflower crop evident in harvested material in Cordoba, La Pampa and Buenos Aires forced yield estimates per hectare to be adjusted down again. The season's sunflowerseed production is now forecast at 2.1 mln to 2.3 mln tonnes, against 2.2 mln to 2.4 mln forecast last week and down 43.9 to 48.8 pct on the 1985/86 record of 4.1 mln. Area sown to sunflowers was two to 2.2 mln hectares, 29.9 to 36.3 pct below the record 3.14 mln hectares last season. Maize harvesting has also reached 36 to 40 pct of the area sown. It is near completion in Cordoba and Santa Fe and will begin in La Pampa and southern Buenos Aires later in April. Production estimates for maize were down from last week at 9.5 mln to 9.8 mln tonnes, against 9.6 mln to 9.9 mln estimated previously. This is 22.2 to 23.4 pct below the 12.4 mln to 12.6 mln tonnes estimated by private sources for the 1985/86 crop and 21.9 to 25.8 pct down on the official figure of 12.8 mln tonnes. Maize was sown on 3.58 mln to 3.78 mln hectares, two to seven pct down on last season's 3.85 mln. Sorghum was harvested on 23 to 25 pct of the area sown in Cordoba, Santa Fe and Chaco. Harvest will start in La Pampa and Buenos Aires in mid-April. The total area sown was 1.23 mln to 1.30 mln hectares, 10.3 to 15.2 pct down on the 1.45 mln sown last season. The new forecast for the sorghum crop is 2.9 mln to 3.2 mln tonnes compared with three mln to 3.3 mln forecast last week, and is 23.8 to 29.3 pct down on last season's 4.1 mln to 4.2 mln tonne crop. The soybean crop for this season was not adjusted, remaining at a record 7.5 mln to 7.7 mln tonnes, up 4.2 to 5.5 pct on the 7.2 mln to 7.3 mln estimated by private sources for 1985/86 and 5.6 to 8.5 pct higher than the official figure of 7.1 mln. The area sown to soybeans this season was a record 3.7 mln to 3.8 mln hectares, 10.8 to 13.8 pct up on the record 3.34 mln sown in 1985/86. The soybean crop is showing excessive moisture in some areas and producers fear they may discover more damage. Some experimental harvesting was carried out in Santa Fe on areas making up only about one pct of the total crop but details on this were not available. Preparation of the fields for the 1987/88 wheat crop, which will be sown between May and August or September, has so far not been as intense as in previous years. Reuter

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"4431"

"15043"

8-APR-1987 11:00:51.15

FURTHER ARGENTINE COARSE GRAIN LOSSES FEARED

Dutch seasonally adjusted unemployment rose in the month to end-March to a total 693,000 from 690,600 at end-February, but was well down from 730,100 at end-March 1986, Social Affairs Ministry figures show. The figure for male jobless rose by 2,000 in the month to 436,500 compared with 470,700 a year earlier. The figure for women was 256,500 at end-March against 256,100 a month earlier and 259,400 at end-March 1986. On an unadjusted basis total unemployment fell by 16,500 in the month to end-March to 692,200. In March 1986 the figure was 725,000. A ministry spokesman said the unadjusted figures showed a smaller than usual seasonal decrease for the time of year, because of particularly cold weather delaying work in the building industry. He said this explained the increase in the adjusted statistics. Total vacancies available rose by 1,900 to 26,300 at end-March. A year earlier the figure was 28,763. REUTER

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"4028"

"15045"

8-APR-1987 11:05:28.33

DUTCH ADJUSTED UNEMPLOYMENT RISES IN MARCH

 HARTMARX CORP <HMX> BOOSTS DIVIDEND CHICAGO, April 8 Qtly div 25 cts vs 23 cts prior qtr Pay 15 May Record 1 May 

"UNPROC"

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"4029"

"15046"

8-APR-1987 11:06:39.06

Moody's Investors Service Inc said it affirmed the long-term debt ratings but cut the commercial paper to Prime-2 from Prime-1 of Avco Financial Services Inc, a unit of Avco Corp. Avco Financial has 2.5 billion dlrs of debt outstanding. For the paper cut, Moody's cited a higher risk profile inherent in the company's core business. Moody's said the affirmation reflected its assessment of a less diversified risk profile in the company's receivables. Affirmed were Avco Financial's A-3 senior debt, Baa-2 senior subordinated debt and Baa-3 junior subordinated debt. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4030"

"15047"

8-APR-1987 11:11:12.33

MOODY'S AFFIRMS AVCO UNIT'S LONG-TERM DEBT

Top officials of leading industrial nations arrived at the U.S. Treasury main building to begin a meeting of the Group of Five. Officials seen arriving by Reuter correspondents included West German Finance Minister Gerhard Stoltenberg and Bundesbank President Karl Otto Poehl, French Finance Minister Edouard Balladur and his central banker Jacques de Larosiere. Also seen arriving were Japanese Finance Minister Kiichi Miyazawa and Japan's central bank governor Satoshi Sumita and British Chancellor of the Exchequer and central bank governor Robin Leigh Pemberton. There was no immediate sign of Italian or Canadian officials. Monetary sources have said a fully blown meeting of the Group of Seven is expected to begin around 3 p.m. local time (1900 gmt) and last at least until 6 p.m. (2200 gmt), when a communique is expected to be issued. Italian sources said Italian acting Finance Minister Giovanni Goria met Treasury Secretary James Baker last night. At those talks Baker apparently convinced Goria, who declined to attend the February meeting of the Group of Seven in Paris, that Italy would participate fully in any meaningful decisions. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4434"

"15048"

8-APR-1987 11:12:13.98

TOP OFFICIALS ARRIVE AT TREASURY FOR G-5 TALKS

The Federal Reserve is expected to intervene in the government securities market to supply temporary reserves indirectly via customer repurchase agreements, economists said. Economists expect the Fed to execute 2.0-2.5 billion dlrs of customer repos to offset pressures from the end of the two-week bank reserve maintenance period today. Some also look for a permanent reserve injection to offset seasonal pressures via an outright purchase of bills or coupons this afternoon. The Federal funds rate opened at 6-3/8 pct and remained at that level, up from yesterday's 6.17 pct average. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4032"

"15049"

8-APR-1987 11:12:43.58

FED EXPECTED TO SET CUSTOMER REPURCHASES

<The Reader's Digest Association Inc> said it sold its subsidiary, Source Telecomputing Corp, to the venture capital firm of <Welsh, Carson, Anderson and Stowe>. The purchase price was not disclosed, Reader's Digest said. It said it purchased an 80 pct stake in Source in 1980 and earned an unspecified profit on 14 mln dlrs in revenues in 1986. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4035"

"15052"

8-APR-1987 11:15:35.75

READER'S DIGEST ASSOCIATION SELLS UNIT

Shr 59 cts vs 51 cts Net 18.0 mln vs 15.6 mln Revs 278.6 mln vs 272.2 mln Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4036"

"15053"

8-APR-1987 11:15:38.86

WEIS MARKETS INC <WMK> 1ST QTR MARCH 28 NET

Anvet Inc said it filed with the Securities and Exchange Commission a registration statement for a proposed public offering of 150 mln dlrs of convertible subordinated debentures due 2012. Avnet said it will use the net proceeds for general working capital purposes and the anticipated domestic and foreign expansion of its distribution, assembly and manufacturing businesses. The company said an investment banking group managed by Dillon Read and Co Inc will handle the offering. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4037"

"15054"

8-APR-1987 11:15:46.20

AVNET INC <AVT> FILES FOR DEBENTURE OFFERING

Continental Bank of Canada said shareholders approved a capital reorganization to allow an initial payout by the end of May to common shareholders from last year's 200 mln Canadian dlr sale of most Continental assets to <Lloyds Bank PLC>'s Lloyds Bank Canada. The bank said the initial distribution would take the form of a stock dividend of cumulative redeemable retractable class A series two preferred shares entitling holders to monthly floating rate dividends at 72 pct of prime and to 12.75 dlrs a share on retraction. Continental said the initial payout was subject to Canadian government approval. The bank reiterated that total distributions to common shareholders would range from 16.50 dlrs a share to 17.25 dlrs including the initial stock dividend and a final distribution in late 1988 or early 1989. The payout of existing preferred shareholders will be completed just before next month's initial distribution to common shareholders, Continental added. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4038"

"15055"

8-APR-1987 11:15:53.12

CONTINENTAL BANK INITIAL DISTRIBUTION APPROVED

4th qtr Shr loss 17 cts vs loss 22 cts Net loss 14.5 mln vs loss 18.0 mln Revs 27.3 mln vs 23.7 mln Year Shr 58 cts vs 1.01 dlrs Net loss 48.3 mln vs loss 84.2 mln Revs 111.7 mln vs 141.9 mln NOTE: Atlas Consolidated Mining and Development Corp of Manila. Translated from Philippine pesos at 20.3489 pesos to dollar vs 18.5571 in quarter and 20.2315 vs 18.2743 in year. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4039"

"15056"

8-APR-1987 11:15:58.96

ATLAS CONSOLIDATED MINING AND DEVELOPMENT <ACMB>

AVX Corp said it has filed a registration statement with the Securities and Exchange Commission for a proposed public offering of 75 mln dlrs prinicipal amount of convertible subordinated debentures. AVX said a syndicate managed by Shearson Lehman Brothers Inc will underwrite the offering. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4042"

"15059"

8-APR-1987 11:16:54.96

AVX CORP <AVX> FILES FOR DEBENTURE OFFERING

Sci-Med Life Systems Inc said its directors approved a previously proposed agreement of merger with Bristol-Myers Co. The proposed transaction is subject to completion of a due diligence investigation, including a review by Bristol-Myers of a patent infringement suit served on Sci-Med by Advanced Cardiovascular Systems Inc on March 31, 1987. Bristol-Myers has the right to call off the agreement under certain circumstances, it said. Sci-Med said it continues to believe the patent suit is without merit. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4043"

"15060"

8-APR-1987 11:17:19.96

SCI-MED <SMLS> BOARD AGREES TO BRISTOL<BMY>DEAL

Fidelcor Inc said it has completed the sale of its Industrial Valley Title Insurance Co subsidiary to a group of investors including the unit's management for undisclosed terms. Industrial Valley has assets of about 37.6 mln dlrs and was acquired last year along with IVB Financial Corp. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4044"

"15061"

8-APR-1987 11:18:14.40

FIDELCOR <FICR> COMPLETES SALE OF UNIT

Shr 18 cts vs 13 cts Net 575,000 vs 379,000 Sales 6,625,000 vs 4,537,000 Avg shrs 3,173,000 vs 2,977,000 Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4045"

"15062"

8-APR-1987 11:18:20.11

DATA TRANSLATION INC <DATX> 1ST QTR FEB 28 NET

Cheap oil feedstocks, the weakened U.S. dollar and a plant utilization rate approaching 90 pct will propel the streamlined U.S. petrochemical industry to record profits this year, with growth expected through at least 1990, major company executives predicted. This bullish outlook for chemical manufacturing and an industrywide move to shed unrelated businesses has prompted GAF Corp <GAF>, privately-held Cain Chemical Inc, and other firms to aggressively seek acquisitions of petrochemical plants. Oil companies such as Ashland Oil Inc <ASH>, the Kentucky-based oil refiner and marketer, are also shopping for money-making petrochemical businesses to buy. "I see us poised at the threshold of a golden period," said Paul Oreffice, chairman of giant Dow Chemical Co <DOW>, adding, "There's no major plant capacity being added around the world now. The whole game is bringing out new products and improving the old ones." Analysts say the chemical industry's biggest customers, automobile manufacturers and home builders that use a lot of paints and plastics, are expected to buy quantities this year. U.S. petrochemical plants are currently operating at about 90 pct capacity, reflecting tighter supply that could hike product prices by 30 to 40 pct this year, said John Dosher, managing director of Pace Consultants Inc of Houston. Demand for some products such as styrene could push profit margins up by as much as 300 pct, he said. Oreffice, speaking at a meeting of chemical engineers in Houston, said Dow would easily top the 741 mln dlrs it earned last year and predicted it would have the best year in its history. In 1985, when oil prices were still above 25 dlrs a barrel and chemical exports were adversely affected by the strong U.S. dollar, Dow had profits of 58 mln dlrs. "I believe the entire chemical industry is headed for a record year or close to it," Oreffice said. GAF chairman Samuel Heyman estimated that the U.S. chemical industry would report a 20 pct gain in profits during 1987. Last year, the domestic industry earned a total of 13 billion dlrs, a 54 pct leap from 1985. The turn in the fortunes of the once-sickly chemical industry has been brought about by a combination of luck and planning, said Pace's John Dosher. Dosher said last year's fall in oil prices made feedstocks dramatically cheaper and at the same time the American dollar was weakening against foreign currencies. That helped boost U.S. chemical exports. Also helping to bring supply and demand into balance has been the gradual market absorption of the extra chemical manufacturing capacity created by Middle Eastern oil producers in the early 1980s. Finally, virtually all major U.S. chemical manufacturers have embarked on an extensive corporate restructuring program to mothball inefficient plants, trim the payroll and eliminate unrelated businesses. The restructuring touched off a flurry of friendly and hostile takeover attempts. GAF, which made an unsuccessful attempt in 1985 to acquire Union Carbide Corp <UK>, recently offered three billion dlrs for Borg Warner Corp <BOR>, a Chicago manufacturer of plastics and chemicals. Another industry powerhouse, W.R. Grace <GRA> has divested its retailing, restaurant and fertilizer businesses to raise cash for chemical acquisitions. But some experts worry that the chemical industry may be headed for trouble if companies continue turning their back on the manufacturing of staple petrochemical commodities, such as ethylene, in favor of more profitable specialty chemicals that are custom-designed for a small group of buyers. "Companies like DuPont <DD> and Monsanto Co <MTC> spent the past two or three years trying to get out of the commodity chemical business in reaction to how badly the market had deteriorated," Dosher said. "But I think they will eventually kill the margins on the profitable chemicals in the niche market." Some top chemical executives share the concern. "The challenge for our industry is to keep from getting carried away and repeating past mistakes," GAF's Heyman cautioned. "The shift from commodity chemicals may be ill-advised. Specialty businesses do not stay special long." Houston-based Cain Chemical, created this month by the Sterling investment banking group, believes it can generate 700 mln dlrs in annual sales by bucking the industry trend. Chairman Gordon Cain, who previously led a leveraged buyout of Dupont's Conoco Inc's chemical business, has spent 1.1 billion dlrs since January to buy seven petrochemical plants along the Texas Gulf Coast. The plants produce only basic commodity petrochemicals that are the building blocks of specialty products. "This kind of commodity chemical business will never be a glamorous, high-margin business," Cain said, adding that demand is expected to grow by about three pct annually. Garo Armen, an analyst with Dean Witter Reynolds, said chemical makers have also benefitted by increasing demand for plastics as prices become more competitive with aluminum, wood and steel products. Armen estimated the upturn in the chemical business could last as long as four or five years, provided the U.S. economy continues its modest rate of growth. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4046"

"15063"

8-APR-1987 11:18:37.67

ENERGY/U.S. PETROCHEMICAL INDUSTRY

Shr loss two cts vs profit 38 cts Net loss 90,000 vs profit 1,685,000 Revs 1,826,000 vs 29.3 mln Year Shr profit 3.37 dlrs vs profit 46 cts Net profit 15.0 mln vs profit 2,047,000 Revs 26.2 mln vs 123.6 mln NOTE: Net includes pretax securities sale gain 10,000 dlrs vs loss 1,000 dlrs in quarter and gain 486,000 dlrs vs loss 112,000 dlrs in year. Net includes pretax gains on sale of businesses of nil vs 4,656,000 dlrs in quarter and 26.0 mln dlrs vs 4,656,000 dlrs in year. Net includes pretax losses on disposition of product line of nil vs 3,150,000 dlrs in quarter and 3,300,000 dlrs vs 3,150,000 dlrs in year. Quarter net includes tax credits of 102,000 dlrs vs 736,000 dlrs. Net includes reversal of tax loss carryforwards of 259,000 dlrs vs 264,000 dlrs in quarter and tax loss carryforwards of 8,635,000 dlrs vs 579,000 dlrs in year. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4048"

"15065"

8-APR-1987 11:21:05.09

FIDATA CORP <FID> 4TH QTR LOSS

Oper shr 26 cts vs not given Oper net 866,000 vs 480,000 NOTE: 1987 net excludes 157,000 dlr gain from termination of pension plan. Company went public in August 1986. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4050"

"15067"

8-APR-1987 11:21:24.56

MARBLE FINANCIAL CORP <MRBL> 1ST QTR NET

"BRIEF"

"TEST"

"TRAINING-SET"

"4052"

"15069"

8-APR-1987 11:23:52.75

DOMINION TEXTILE CALLS REPORT OF BID FOR BURLINGTON RUMOR

"BRIEF"

"TEST"

"TRAINING-SET"

"4053"

"15070"

8-APR-1987 11:25:35.47

RAYTHEON CO 1ST QTR SHR 1.37 DLRS VS 1.19 DLRS

"BRIEF"

"TEST"

"TRAINING-SET"

"4057"

"15074"

8-APR-1987 11:28:55.26

FLEET FINANCIAL GROUP 1ST QTR SHR 73 CTS VS 60 CTS

Qtly div 30 cts vs 30 cts prior Pay June 8 Record May 18 Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4060"

"15077"

8-APR-1987 11:30:59.80

DIEBOLD INC <DBD> DECLARES DIVIDEND

Qtly div 10 cts vs 10 cts previously Pay April 20 Record April 10 Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4061"

"15078"

8-APR-1987 11:31:03.44

INDEPENDENT BANK CORP <IBCP> REGULAR DIVIDEND

Shr 1.37 dlrs vs 1.19 dlrs Net 101.8 mln vs 92.3 mln Revs 1.750 billion vs 1.725 billion Avg shrs 74.2 mln vs 77.8 mln Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4062"

"15079"

8-APR-1987 11:31:46.62

RAYTHEON CO <RTN> 1ST QTR NET

Qtly div eight cts vs N.A. Payable May 11 Record April 24 Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4065"

"15082"

8-APR-1987 11:32:38.58

WALTHAM SAVINGS BANK <WLBK> INITIAL DIVIDEND

Eastman Kodak Co is issuing a 200 mln Australian dlr zero-coupon bond due May 12, 1992 and priced at 54-3/8 for an effecitve yield of 13.52 pct, said Merrill Lynch Capital Markets as lead manager. The securities, which are available in denominations of 1,000 and 10,000 dlrs, will be listed on the Luxembourg Stock Exchange. Eastman Kodak's outstanding issues are rated AAA/AA. There is a 7/8 pct selling concession and 1/2 pct combined management and underwriting fee. Payment is due May 12, 1987. REUTER

"NORM"

"TEST"

"TRAINING-SET"

"4066"

"15083"

8-APR-1987 11:32:50.63

EASTMAN KODAK ISSUES AUSTRALIA DOLLAR BOND

Shr primary 73 cts vs 60 cts Shr diluted 70 cts vs 58 cts Net 38,528,000 vs 31,680,000 Avg shares 52,087,634 vs 51,294,652 NOTE: Qtr net interest income is 130.7 mln dlrs vs 114.8 mln dlrs. Earnings per share reflects two-for-one common stock split on March 15. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4073"

"15090"

8-APR-1987 11:38:26.83

FLEET FINANCIAL GROUP <FLT> 1ST QTR NET

<Dominion Textile Inc> considers a published report that it has bought a stake in Burlington Industries Inc and is considering making a joint bid for the company to be a rumor, a company spokesman said. "As far as I am concerned and the company is concerned, they are rumors and we're not commenting on rumors," spokesman Michel Dufour told Reuters in response to a query. "All the information that has been given out publicly is that, yes, Dominion Textile is interested in making an acquisition that big...probably based on that people are starting all sorts of rumors," he said. Dufour said yes when asked whether the report was only a rumor, but said the company was not prepared to comment further. Dominion Textile president and chairman Thomas Bell was out of town and unavailable for comment. Dominion Textile last year made an unsuccesful 104-mln- U.S.-dlr bid for Avondale Mills and has maintained a 120-mln- U.S.-dlr line of credit to be used for an American acquisition. Dufour said the company has been negotiating with "many" U.S. textile companies but would not say whether Burlington Industries was one of them. Burlington's stock rose sharply this morning on the report, which said Dominion Textile had joined with U.S. investor Asher Edelman to buy a stake in the company and to consider making a takeover offer. Dominion Textile, which reported operating profit of 11.1 mln Canadian dlrs last year on sales of 926.5 mln dlrs, has repeatedly said it will concentrate on expanding into the U.S. The company has said it plans to diversify into new product and market areas in addition to expanding its textile operations. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4074"

"15091"

8-APR-1987 11:39:39.76

DOMINION CALLS BURLINGTON <BUR> REPORT RUMOR

"BRIEF"

"TEST"

"TRAINING-SET"

"4075"

"15092"

8-APR-1987 11:40:18.25

FED SETS OVERNIGHT SYSTEM REPURCHASES, FED SAYS

Raytheon said a 10 pct rise in its first quarter net to 101.8 mln dlrs reflected improved operations and a lower effective tax rate. The company said revenue gains in electronics, major appliances and other lines were offset by decreases in energy services and aircraft products. Revenues in the quarter rose 1.4 pct to 1.75 billion dlrs, it said. The company said backlog stood at 7.520 billion dlrs, down from 7.912 billion dlrs a year earlier. It said a five year 3.55 billion dlr U.S. defense contract was awarded shortly after the close of the first quarter. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4076"

"15093"

8-APR-1987 11:41:07.56

RAYTHEON <RTN> NET RISES ON OPERATIONS

Ended Feb 28 Shr loss 2.80 dlrs vs profit 17 cts Net loss 90.5 mln vs profit 5,271,000 Revs 240.9 mln vs 159.4 mln Year Shr loss 2.49 dlrs vs loss 2.07 dlrs Net loss 80.4 mln vs loss 66.5 mln Revs 787.9 mln vs 612.4 mln NOTE: Includes loss of 89.6 mln dlrs vs loss 14.5 mln dlrs in year and loss of 91.6 mln dlrs in current qtr from discontinued operations. 1986 qtr includes pretax gain of five mln dlrs from settlement of litigation and tax gain of 5.1 mln dlrs from change in estimated effective tax rate. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4077"

"15094"

8-APR-1987 11:41:46.36

GENERAL INSTRUMENT CORP <GRL> 4TH QTR LOSS

Major cocoa exporters are likely to limit sales in the weeks ahead in an effort to boost world prices, sources close to a meeting of the Cocoa Producers Alliance (CPA) said. The sources said the depressed world market had been one of the main topics discussed in a closed door meeting of the 11-member CPA which began on Monday. They said producers agreed that cutting sales would aid the buffer stock manager of a new international cocoa pact in his effort to support prices. Major cocoa producing and consuming nations agreed operation rules for the buffer stock at a meeting in London last month and the stock manager is expected to enter the market soon. Prices, under the weight of three successive cocoa surpluses, recently fell to the level at which the manager has to buy cocoa under stock rules. The buffer stock aims to keep prices within a pre-set range by buying when prices fall and selling when they rise. "The world's cocoa price at present is just not interesting," commented one delegate representing a major CPA producer. Another source said that with much of the 1986/87 (October-September) world cocoa crop sold, limiting sales in the near term concerns essentially next year's harvest. The sources noted, however, that the cocoa industry in Brazil, the world's number two producer, is in private hands. This means limiting sales is more difficult than in major West African producers, where sales are made or authorized by commodity marketing boards. The CPA includes the world's top three producers, Ivory Coast, Brazil and Ghana, and accounts for 80 pct of all output. The meeting here is due to end tomorrow evening. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4445"

"15095"

8-APR-1987 11:42:22.39

COCOA EXPORTERS EXPECTED TO LIMIT SALES

The Federal Reserve entered the U.S. Government securities market to arrange overnight System repurchase agreements, a Fed spokesman said. Dealers said that Federal funds were trading at 6-3/8 pct when the Fed began its temporary and direct supply of reserves to the banking system. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4079"

"15096"

8-APR-1987 11:43:43.39

FED ADDS RESERVES VIA OVERNIGHT REPURCHASES

Honduras will tender April 13 under Public Law 480 for approximately 52,500 tonnes of various wheats in bulk, an agent for the country said. The agent said Honduras is seeking U.S. no. 2 or better northern spring/DNS, with 14 pct protein minimum and 13 pct moisture maximum, and U.S. no. 2 or better hard red winter, with 12 pct protein minimum and 13 pct moisture maximum. The agent said NS/DNS laydays include July 1-10 for 7,500-9,500 tonnes, Aug 1-10 for 8,000-10,000 tonnes, and Sept 15-25 for 12,500-14,500 tonnes. HRW laydays include June 20-30 on 5,000-7,000 tonnes, July 15-25 for 6,500-8,500 tonnes, and September 15-25 for 7,000-9,000 tonnes. Offers are due by 1550 hrs EDT, April 13, and will remain valid until 1000 hrs EDT, April 14, the agent said. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4446"

"15097"

8-APR-1987 11:45:03.17

HONDURAS SEEKING PL-480 BULK WHEAT APRIL 13

Ameribanc Inc is raising 15 mln dlrs through an offering of convertible subordinated capital notes due 1995 with an eight pct coupon and par pricing, said lead manager Stifel, Nicolaus and Co Inc. The debentures are convertible into the company's common stock at 18.75 dlrs per share, representing a premium of 27.1 pct over the stock price when terms on the debt were set. The issue is non-callable for two years. It was not rated by Moody's Investors or Standard and Poor's at the time of the pricing, Stifel said. Burns, Pauli and Co Inc co-managed the deal. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4447"

"15100"

8-APR-1987 11:48:03.92

AMERIBANC <ABNK> SELLS CONVERTIBLE CAPITAL NOTES

J.P. Morgan and Co Inc said its first-quarter earnings fell by 3.2 pct, largely reflecting its previously announced decision to place on non-accrual status its 1.3 billion dlrs of medium- and long-term loans to Brazil. That decision, spurred by Brazil's suspension of interest payments on February 20, reduced the quarter's net income by 20 mln dlrs to 226.4 mln dlrs, compared with 233.9 mln in the first three months of 1986. Morgan also reported a loss of 1.8 mln dlrs from securities underwriting and trading, in contrast to a gain of 45.4 mln dlrs in the year-earlier period. In the fourth quarter of 1986, Morgan posted other trading losses of 5.5 mln dlrs because of setbacks in the trading and underwriting of Euromarket securities. Conditions in some sectors of the Euromarket remained difficult last quarter, with floating rate notes suffering heavy price falls, but a spokeswoman was unable to say whether Morgan's trading losses were restricted to the Euromarket. On the positive side, Morgan reduced its provision for loan losses to 35 mln dlrs from 70 mln a year earlier. Foreign exchange trading income rose to 82 mln dlrs from 72.6 mln and trust income increased to 95.9 mln dlrs from 75.9 mln. Morgan said other operating income, mainly fees and commissions, rose to 102.2 mln dlrs from 88.4 mln, but net investment securities gains dropped to 43.1 mln from 58.1 mln. Net interest earnings were 490.4 mln dlrs in the first quarter, down from 499.4 mln a year earlier, and net yield fell to 2.79 pct from 3.20 pct. If Brazil had not been placed on non-accrual, which means that interest can be recorded as income only when payments are actually received, net interest earnings would have been 525.9 mln dlrs and net yield 2.99 pct. If Brazil does not resume payments, 1987 net would be cut by 72 mln dlrs, Morgan added. After the provision for loan losses, Morgan's allowance for credit losses at the end of March totaled 953 mln dlrs compared with 910 mln at end-1986 and 815 mln a year earlier. It reported net recoveries of six mln dlrs after charge-offs of eight mln, compared with net charge-offs of 49 mln dlrs after recoveries of three mln a year earlier. Excluding Brazil, non-accruing loans at quarter's end were 583 mln dlrs, down from 633 mln at end-1986 and 684 mln a year earlier. Non-interest expenses rose to 371.1 mln dlrs from 303.5 mln dlrs, with more than half the increase related to personnel costs, Morgan said. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4086"

"15103"

8-APR-1987 11:49:48.95

J.P. MORGAN <JPM> NET HURT BY BRAZIL, TRADING

Shr loss 17.3 cts vs 21.5 cts Net loss 14.5 mln vs loss 18.0 mln Revs 27.3 mln vs 23.7 mln Year Shr loss 58 cts vs loss 1.01 dlrs Net loss 48.3 mln vs loss 84.2 mln Revs 111.7 mln vs 141.9 mln Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4087"

"15104"

8-APR-1987 11:50:14.65

ATLAS CONSOLIDATED MINING <ACMB> 4TH QTR

Avnet Inc said it filed with the Securities and Exchange Commission a registration statement covering a 150 mln dlr issue of convertible subordinated debentures due 2012. Proceeds will be used for general working capital and the anticipated domestic and foreign expansion of Avnet's businesses, the company said. Avnet named Dillon, Read and Co Inc as manager of the offering. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4088"

"15105"

8-APR-1987 11:50:30.11

AVNET <AVT> FILES CONVERTIBLE DEBT OFFERING

Storage problems with Brazil's record grain crop are likely to result in losses of about five mln tonnes, an Agriculture Ministry spokesman said. Ministry spokesman Leonardo Brito, speaking from Brasilia, told Reuters he believed that about five mln tonnes of this year's estimated crop of 65 mln tonnes would be lost. He said part of this would be the normal loss inevitable in harvesting, but that most of it would stem from storage problems. Brazil has a storage capacity of 66 mln tonnes, theoretically sufficient for the crop. But Brito said that the storage capacity was badly distributed. The states of Sao Paulo, Parana and Rio Grande do Sul had between them 70 pct of the nation's capacity, but were responsible for only 50 to 60 pct of production. The biggest problems are concentrated in the Centre-West growing regions, where rising production has outpaced storage capacity. Brito said the Centre-West, whose crops include soya and maize, had between 30 and 40 pct of the nation's grains production but only 20 pct of its storage space. In addition to the poor distribution of storage units, there is the problem that too much of the capacity is geared to storing grain in sacks, while not enough is suitable for storing loose grain, Brito said. Finally, there is a shortage of lorries to transport the crops. The sheer scale of the task in transporting the record crop has been evident from television reports, which have shown enormous queues of lorries waiting outside granaries. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4089"

"15106"

8-APR-1987 11:51:17.60

BRAZIL GRAIN HARVEST FACES STORAGE PROBLEMS

Fleet Financial Group said its shareholders approved an increase in shares of the company's authorized common stock to 100,000,000 shares from 75,000,000 shares currently. The company said shareholders approved the move at the annual meeting in Providence today when the company reported that its first quarter earnings rose to 38.5 mln dlrs, or 73 cts a share, from 31.7 mln dlrs, or 60 cts a share, in the first quarter 1986. J. Terence Murray, chairman and president of Fleet Financial, said, "Fleet's mortgage banking activities in particular continued to produce signficant income increases (in the first quarter)." Murray said Fleet's mortgage servicing portfolio reached 22.1 billion dlrs by March 31, including 1.8 billion dlrs purchased in March. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4451"

"15107"

8-APR-1987 11:52:21.75

FLEET <FLT> SHAREHOLDERS APPROVE SHARE INCREASE

General Motors Acceptance Corp, a unit of General Motors Corp, is raising 500 mln dlrs via offerings of 300 mln dlrs of notes due 1990 and 200 mln dlrs of notes due 1994, said lead manager Merrill Lynch Captial Markets. The three-year notes have a 7-1/4 pct coupon and were priced at 99.682 to yield 7.37 pct, or 52 basis points over comparable Treasury securities. The seven-year notes were priced at 99.473 with an eight pct coupon to yield 8.10 pct, or 71 points over Treasuries. Both issues are non-callable for life and are rated AA-1 by Moody's Investors and AA by Standard and Poor's. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4091"

"15108"

8-APR-1987 11:54:03.94

GM <GM> UNIT OFFERS 500 MLN DLRS OF NOTES

Shr 42 cts vs 35 cts Net 854,000 vs 839,000 Revs 23.2 mln vs 21.9 mln Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4092"

"15109"

8-APR-1987 11:55:09.32

ROWE FURNITURE CORP <ROWE> 1ST QTR FEB 28

Exchanges and telecommunications authorities should abolish their restrictions on full and free dissemination of information to the investment and banking communities, Reuters Holdings Plc <RTRS.L> chairman Sir Christopher Hogg said. In the 1986 annual repoprt, he said lengthy negotiations had brought agreement with the Tokyo and London Stock Exchanges for fuller, but still not complete, access to market data through Reuter services. "Many other markets maintain restrictions," he added. Hogg said members of some markets appear to believe that information restrictions protected their interests. In other cases, exchanges seem to be limiting the distribution of data in order to provide competitive advantage to their own commercial information businesses. He also noted that despite increasing liberalisation in the telecommunications field, some countries continue to protect their state monopolies at the expense of other economic sectors. "Reuter dealing services remain excluded from such countries. As a result, banking communities serving entire economies are put at a competitive disadvantage," he added. Reuters increased its 1986 pre-tax profit by 39 pct from the previous year to 130.1 mln stg on a 43 pct rise in revenues to 620.9 mln stg. Earnings per ordinary share were up 47 pct to 19.4p. The annual shareholder meeting will be held in London on April 29. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4093"

"15110"

8-APR-1987 11:55:55.71

REUTERS CHAIRMAN URGES FREER INFORMATION FLOWS

<CCL Industries Inc> said it purchased a majority interest in Monobloc U.S.A. from Envases Metalurgicos de Alava of Spain. Terms were not disclosed. CCL also said it agreed to exchange present and future technology with Envases. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4094"

"15111"

8-APR-1987 11:56:47.48

CCL INDUSTRIES PURCHASES STAKE IN MONOBLOC

The Association of White Metals has decided to publish a daily tin price here in French francs per 100 kilos, the French Federation of Non-Ferrous Metals said. The price, quoted for the first time yesterday, was introduced as the lack of tin quotes was causing problems for some French companies, a spokesman for the non-ferrous metals association said. Today's price was set at 4,776 francs per 100 kilos and Tuesday's at 4,790. The International Chamber of Commerce stopped publishing a tin price after the London Metal Exchange (LME) stopped tin trading on October 24, 1985. The Association has tested the basis it uses to calculate a French franc price over the last few months to ensure it was reliable, the spokesman said. The French franc price is pre-tax, for specified quality, a minimum 99.9 pct purity, at a French port or border railway station and a minimum delivery of 10 tonnes. The French Federation of Non-Ferrous Metals groups various metal associations including the Association of White Metals. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4095"

"15112"

8-APR-1987 11:57:00.36

PARIS GROUP PUBLISHING DAILY FRANC TIN PRICE

AVX Corp said it filed with the Securities and Exchange Commission a registration statement covering a 75 mln dlr issue of convertible subordinated debentures. The company named Shearson Lehman Brothers Inc as manager of the offering. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4096"

"15113"

8-APR-1987 11:58:13.58

AVX <AVX> FILES TO OFFER CONVERTIBLE DEBENTURES

Western Digtial Corp said it has completed the redemption of its 47 mln dlr, 6-3/4 pct convertible subordinated debentures due 2011. The redemption resulted in the issuance of 2,685,142 shares of the company's common stock, Western Digital said. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4099"

"15116"

8-APR-1987 12:03:46.73

WESTERN DIGITAL CORP <WDC> REDEEMS DEBT

Qtly div nine cts vs nine cts prior Pay July 15 Record June 15 Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4101"

"15118"

8-APR-1987 12:05:02.81

RHODES INC <RHD> DECLARES DIVIDEND

<Madeira Inc> said it signed a letter of intent to be acquired by Tradevest Inc through a stock-for-stock exchange. After completion of the transaction, Tradevest would own 90 pct of the issued outstanding stock of Madeira. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4102"

"15119"

8-APR-1987 12:06:20.64

MADEIRA IN LETTER OF INTENT TO BE ACQUIRED

Celltronics Inc said its directors declared a one-for-10 reverse stock split of its common stock. It said the split will be payable April 17 to shareholders of record April 16. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4103"

"15120"

8-APR-1987 12:07:05.08

CELLTRONICS <CELT> DECLARES ONE-FOR-10 SPLIT

<Montedison SPA> of Italy said net consolidated profit for its Agrimont Group, formed in June 1986, totalled 1.5 billion lire in 1986. Agrimont SPA, the holding company for Montedison's Agro-Industrial businesses, had sales of 810 billion lire and a net profit of about 1.1 billion lire, after amortization costs of 35 billion lire and a 13 billion lire reduction in the value of inventory due to falling market prices, Montedison said. Agrimont, still wholly owned by Montedison, is taking steps to be traded on the Milan exchange, the company said. The company said that 1986 was characterized by an unstable fertlizer market due to the weak dollar and the decline of international prices for products sold in Europe and the U.S where Agrimont operates through its Conserv division. In pesticides and in animal health care products Agrimont maintained its previous level of revenues and market share in 1986, Montedison said. Montedison said it named Ettore dell'Isola to the newly created position of president of Agrimont. Montedison also said it named Renato Picco, managing director of <Eridania SPA> and Gianfranco Ceroni, managing director of <Italiana Olii e Sifi>, both of whom are members of the the Ferruzzi Group's management board, to Argimont's board of directors. Ferruzzi owns about 40 pct of Montedison, the company said. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4456"

"15121"

8-APR-1987 12:09:10.34

MONTEDISON'S AGRIMONT UNIT 1986 EARNINGS

Datron Corp said it agreed to merge with GGFH Inc, a Florida-based company formed by the four top officers of the company. According to terms of the proposed transaction, each share of Datron common stock, excluding those shares owned by the four officers, will be bought for six dlrs a share, it said. Datron's officers hold about 73 pct of the total 896,000 Datron common shares outstanding. Upon completion of the proposed transaction, the officers of Datron would own 100 pct of the company. The merger is subject to GGHF's receiving financing for the plan, Datron said. Shareholders of Datron will be asked to approve the plan at their annual meeting to be held in June or July, and the merger is expected to be completed by July 31, it said. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4457"

"15122"

8-APR-1987 12:10:25.64

DATRON <DATR> AGREES TO BUYOUT BY OFFICERS

"BRIEF"

"TEST"

"TRAINING-SET"

"4107"

"15124"

8-APR-1987 12:12:43.28

TRUMP AND INTERSTATE PROPERTIES IN TALKS TO ACQUIRE ALEXANDERS

Shr 26 cts vs 52 cts Net 1,386,000 vs 2,773,000 Revs 47.7 mln vs 38.5 mln Nine mths Shr 52 cts vs 97 cts Net 2,765,000 vs 5,419,000 Revs 116.9 mln vs 97 mln Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4109"

"15126"

8-APR-1987 12:14:15.24

SOUND WAREHOUSE INC <SWHI> 3RD QTR FEB 28 NET

CNA Income Shares Inc said it filed with the Securities and Exchange Commission a registration statement covering a 30 mln dlr issue of convertible extendible notes due 1992. The proceeds will be used for investment purposes, the company said. CNA Inc named Drexel Burnham Lambert Inc as sole underwriter for the offering. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4110"

"15127"

8-APR-1987 12:14:52.39

CNA INCOME SHARES <CNN> FILES FOR NOTE OFFERING

Donald Trump and Interstate Properties said they were holding preliminary discussions regarding a possible joint acquisition of Alexanders Inc at 47 dlrs per share. The possible acquisition is subject to any applicable real estate gains and transfer taxes, the joint statement said. Trump and Interstate, which presently own about 40 pct of Alexander's common stock, said they intend to keep the company as a retailer if they succed in their acquisition. There can be no assurances that the parties will reach any agreement regarding an acquisition or what price might be offered, the statement said. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4111"

"15128"

8-APR-1987 12:16:01.87

TRUMP AND INTERSTATE IN TALKS FOR ALEXANDERS

Japan bought 4,000 tonnes of Canadian rapeseed overnight at an undisclosed price for last half May/first half June shipment, trade sources said. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4112"

"15129"

8-APR-1987 12:16:15.69

JAPAN BUYS 4,000 TONNES CANADIAN RAPESEED

Shr profit 12 cts vs loss 14 cts Net profit 183,000 vs loss 234,000 Revs 2.4 mln vs 1.5 mln Six months Shr profit 22 cts vs loss 22 cts Net profit 345,000 vs loss 358,000 Revs 5.2 mln vs 2.9 mln NOTE:1987 2nd qtr and six months include gains of 78,000 dlrs and 154,000 dlrs for tax loss carryforward. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4113"

"15130"

8-APR-1987 12:17:10.43

TELECRAFTER CORP <SWHI> 2ND QTR FEB 28 NET

Tunisia is expected to tender April 14 for 100,000 tonnes of French soft wheat for delivery between May and August and which would be covered by the French export credit agency, COFACE, export credits, traders said here. No official tender has been announced yet by Tunisia, they said. France has sold a total of 200,000 tonnes of soft wheat to Tunisia since the begining of the current campaign which was covered by COFACE export credits. Of this amount, a total of 150,000 tonnes was exported by March 1, they said. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4115"

"15132"

8-APR-1987 12:24:13.46

TUNISIA EXPECTED TO TENDER FOR FRENCH WHEAT

Shr 28 cts vs 16 cts Net 9,387,000 vs 25,617,000 Revs 410.1 mln vs 393.5 mln Avg shrs 35.4 mln vs 164.7 mln NOTE: 1987 net reflects interest expense on debt incurred to finance recapitalization in Oct. 1986. Prior year earnings restated to reflect recapitalization plan. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4119"

"15136"

8-APR-1987 12:28:31.30

COLT INDUSTRIES INC <COT> 1ST QTR NET

Yankee Cos Inc said its Eskey Inc <ESK> subsidiary has decided not to sell its Yale E. Key unit. Further details were not disclosed. Reuter

"NORM"

"TEST"

"TRAINING-SET"

"4121"

"15138"

8-APR-1987 12:32:54.34

YANKEE <YNK> UNIT NOT TO SELL SUBSIDIARY