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<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21651" NEWID="17001">
<DATE>21-APR-1987 11:35:01.50</DATE>
<TOPICS><D>coffee</D></TOPICS>
<PLACES><D>uk</D><D>brazil</D></PLACES>
<PEOPLE><D>dauster</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1400&#31;reute
b f BC-IBC-COFFEE-AUCTIONS-T   04-21 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>IBC COFFEE AUCTIONS TO START SOON - DAUSTER</TITLE>
<DATELINE>    LONDON, April 21 - </DATELINE><BODY>The Brazilian Coffee Institute, IBC,
plans to sell in a series of auctions over the next few weeks
robusta coffee purchased in London last year, but details of
where and when auctions will take place are still to be
finalised, IBC president Jorio Dauster told reporters.
    The sales of 630,000 bags of robusta and an unspecified
amount of Brazilian arabica coffee will take place over a
minimum of six months but it is not decided where sales will
take place or whether they will be held weekly or monthly.
    The amount offered at each sale has also not been set, but
could be in the order of 100,000 bags, Dauster said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21652" NEWID="17002">
<DATE>21-APR-1987 11:37:33.52</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f1416&#31;reute
u f BC-AMCA-(AIL)-NAMES-NEW   04-21 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>AMCA (AIL) NAMES NEW CHAIRMAN</TITLE>
<DATELINE>    TORONTO, April 21 - </DATELINE><BODY>AMCA International Ltd said it
appointed president and chief executive officer WIlliam Holland
to succeed Kenneth Barclay as chairman.
    Barclay, who is 60 years old, decided not to stand for
reappointment as chairman this year but will continue as a
director, AMCA said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21653" NEWID="17003">
<DATE>21-APR-1987 11:38:04.12</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f1418&#31;reute
u f BC-API-OIL-INVENTORY-REP   04-21 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>API OIL INVENTORY REPORT TO BE ISSUED TONIGHT</TITLE>
<DATELINE>    NEW YORK, APRIL 21 - </DATELINE><BODY>The American Petroleum Institute, API,
said its weekly U.S. petroleum inventory report will be issued
tonight, despite many company closures on Friday of last week
for the Easter holiday.
    The API report is usually released around 1700 EDT on
Tuesday nights.
    The Energy Information Administration said it also expects
its weekly oil statistic report to be released as usual, on
Wednesday night at about 1700 EDT.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21654" NEWID="17004">
<DATE>21-APR-1987 11:44:00.53</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1442&#31;reute
u f BC-FAIRCHILD   04-21 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>SORO GROUP TO LIMIT FAIRCHILD &lt;FEN> STOCK BUYS</TITLE>
<DATELINE>    WASHINGTON, April 21 - </DATELINE><BODY>Quantum Fund N.V., a Netherlands
Antilles mutual fund for which New York investor George Soros
is investment adviser, said it has agreed to limit further
purchases of Fairchild Industries Inc stock.
    In a filing with the Securities and Exchange Commission,
Quantum, which already holds 1,647,481 Fairchild common shares,
or 11.5 pct of the total outstanding, said it agreed to the
restriction after Fairchild said its security clearance might
be jeopardized if Quantum acquires a major stake in it.
    But Quantum said Fairchild management was told that Soros,
acting either individually or through entities other than
Quantum that he controls, may decide to buy common stock in the
company on his own behalf.
    Quantum had recently notified the Federal Trade Commission
under the Hart-Scott-Rodino Antitrust Improvements Act of 1976
that it might buy up to 49.9 pct of Fairchild's voting stock.
Unless the FTC had objected, Quantum would have been free, but
not obligated, to buy up to 49.9 pct of Fairchild stock.
    Fairchild management, however, warned that if Quantum, a
foreign entity, raises its stake in the company to 49.9 pct, it
could "impair" the government security clearances Fairchild
needs to carry out its its defense contract work.
    In response, Quantum said it told Fairchild it will not
make "significant additional purchases" of its common or
preferred stock without giving Fairchild enough prior notice to
enable it to consult with Quantum over the impact of action.
    Quantum also said it has withdrawn its notification request
to the FTC and the antitrust division of the Justice Department
of its intent to buy up to 49.9 pct of Fairchild.
    Quantum also said it told the FTC and the Justice
Department that it does not expect to resubmit any further
notifications of intent to significantly raise its stake in
Fairchild at this time.
    The restrictions Quantum has agreed to follow regarding
further dealings in Fairchild stock do not apply to Soros as an
individual investor.
     Fairchild's annual shareholders meeting is scheduled to be
held tomorrow.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21655" NEWID="17005">
<DATE>21-APR-1987 11:45:56.03</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1446&#31;reute
b f BC-/-FED-ADDS-RESERVES-V   04-21 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>FED ADDS RESERVES VIA TWO-DAY REPURCHASES</TITLE>
<DATELINE>    NEW YORK, April 21 - </DATELINE><BODY>The Federal Reserve entered the U.S.
Government securities market to arrange two-day System
repurchase agreements, a Fed spokesman said.
    Dealers said that Federal funds were trading at 6-7/16 pct
when the Fed began its temporary and direct supply of reserves
to the banking system.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21656" NEWID="17006">
<DATE>21-APR-1987 11:49:31.32</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>nasdaq</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1466&#31;reute
d f BC-CAPITAL-ASSOCIATES-&lt;C   04-21 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>CAPITAL ASSOCIATES &lt;CAII.O> TO TRADE ON NASDAQ</TITLE>
<DATELINE>    COLORADO SPRINGS, Colo., April 21 - </DATELINE><BODY>Capital Associates Inc
said its common stock will be included in NASDAQ's national
market system, starting today.
    Capital Associates is an equipment leasing and financial
service company with headquarters in Colorado Springs, Colo.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21657" NEWID="17007">
<DATE>21-APR-1987 11:52:37.63</DATE>
<TOPICS><D>copper</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f1486&#31;reute
u f BC-/MINT-REVIEWS-OFFERS   04-21 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>MINT REVIEWS OFFERS ON 3,701,000 LBS COPPER</TITLE>
<DATELINE>    WASHINGTON, April 21 - </DATELINE><BODY>The U.S. Mint received 17 offers
from seven firms at prices ranging from 0.66845-0.6840 dlrs per
lb for payment by standard check and 0.66695-0.68 dlrs per lb
for wire transfer payment in a review of offers on 3,701,000
lbs of electrolytic copper it is seeking to purchase.
    Philipp Brothers, N.Y., led with the lowest offers of
0.66695 for wire transfer payment and 0.66845 dlrs per lb to be
paid by check, followed by Cerro Sales Corp, N.Y., with 0.6684
dlrs per lb on one mln lbs for wire payment, and 0.6713 dlrs
per lb on one mln lbs for standard payment.
    Firms, in submitting offers, elect to be paid by standard
check or wire transfer, with awards based on whichever of the
two methods is more cost advantageous at that time.
    Cerro Sales also offered prices for wire payment of 0.6689
dlrs per lb on one mln lbs and 0.6693 dlrs per lb on 1,701,000
lbs. Cerro's standard payment offers included 0.6719 dlrs per
lb on one mln lbs and 0.6723 dlrs per lb on 1,701,000 lbs.
    Cargill Metals, Minneapolis, offered 0.67025 dlrs per lb
for wire payment and 0.67275 dlrs per lb for standard payment,
while Elders Raw Materials, Darien, Ct., offered 0.6718 dlrs
per lb for wire payment and 0.6735 dlrs per lb for standard
payment on increments of 950,000 lbs each.
    Other offers for wire transfer payment include 0.6759 dlrs
per lb on 380,000 lbs, submitted by Deak International, N.Y.,
0.6789 dlrs per lb on the entire quantity by Diversified Metals
Corp, St. Louis, and 0.68 dlrs per lb by Gerald Metals,
Stamford, Ct.
    Other standard payment offers include 0.6819 dlrs per lb on
950,000 lbs by Diversified Metals, and 0.6840 dlrs per lb on
the entire quantity by Gerald Metals.
    The Mint said the copper is for delivery the week of May 11
to Olin Corp, East Alton, Ill.
    The offers have a minimum acceptance period of three
calendar days, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21658" NEWID="17008">
<DATE>21-APR-1987 11:55:33.03</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f1500&#31;reute
r f BC-ahed-&lt;aHM.TO>-may-iss   04-21 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>AHED &lt;AHM.TO> MAY ISSUE ONE MLN SHARES</TITLE>
<DATELINE>    Toronto, April 21 - </DATELINE><BODY>Ahed Corp said it began discussions
with an investment dealer about issuing an additional one mln
treasury shares in the near future.
    Ahed also said it believes recent increases in its stock
price could be attributable to a published report describing
the activities of the company.
    Ahed said no other events are known to have taken place
which would cause these recent price increases.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21659" NEWID="17009">
<DATE>21-APR-1987 11:55:57.82</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1503&#31;reute
r f BC-U.S.-WEST-&lt;USW>-INTRO   04-21 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. WEST &lt;USW> INTRODUCES DATA NETWORK PRODUCT</TITLE>
<DATELINE>    NEW YORK, April 21 - </DATELINE><BODY>U.S. WEST INC said it introduced its
first product for managing data networks, called the NETCENTER
graphic network monitor.
    The product was developed by U.S. WEST Network Systems Inc,
a subsidiary of U.S. WEST INC, it said. It will be distributed
in the third quarter of 1987.
    The company said the product is aimed at companies with IBM
SNA networks, and will allow customers control over their own
networks.
   
    The initial license fee for a typical configuration will be
in the 100,000 dlr to 300,000 dlr range, depending on the size
of the network, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21660" NEWID="17010">
<DATE>21-APR-1987 12:04:11.03</DATE>
<TOPICS><D>grain</D><D>wheat</D><D>barley</D><D>oilseed</D><D>rapeseed</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1537&#31;reute
u f BC-FRENCH-WINTER-CEREAL   04-21 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH WINTER CEREAL SOWING SEEN LITTLE CHANGED</TITLE>
<DATELINE>    PARIS, April 21 - </DATELINE><BODY>The Ministry of Agriculture left its
estimates of French winter cereal sowings for the 1986/87
campaign barely changed at 6.606 mln hectares compared with its
previous forecast of 6.601 mln.
    This compared with the 6.41 mln ha of winter cereals
harvested in the 1985/86 campaign.
    Winter soft wheat sowings were put at 4.647 mln ha compared
with its previous estimate of 4.651 mln and 4.57 mln ha
harvested last campaign. Winter barley plantings were forecast
at 1.46 mln ha, unchanged from its previous estimate and
compared with 1.41 mln harvested last season.
    The ministry put hard winter wheat sowings at 246,000 ha
versus a February 1 estimate of 236,000 and actual area
harvested last campaign of 217,000.
    Winter rape plantings were forecast at 627,000 ha against a
previous estimate of 621,000 and 375,000 rpt 375,000 harvested
in 1985/86.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21661" NEWID="17011">
<DATE>21-APR-1987 12:11:18.43</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1591&#31;reute
r f BC-ENERGEX-MINERALS-&lt;EGX   04-21 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>ENERGEX MINERALS &lt;EGX> MAY RUN UP TO THREE PITS</TITLE>
<DATELINE>    VANCOUVER, British Columbia, April 21 - </DATELINE><BODY>Energex Minerals
Ltd said economic evaluation of reserves indicates high-grade
operation from three open pits may be feasable based on
five-year operation at 100 tons a day, a payback of less than
1-1/2 years.
    An increase in the project's life, profitability and scale
is anticipated as additional reserves are developed in 1987,
the company said.
    Current reserves are one mln long tons at 0.20 ounce gold
per ton, all categories; proven-probable 262,242 long tons at
0.25 ounce gold per ton, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21662" NEWID="17012">
<DATE>21-APR-1987 12:13:27.73</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F Y
&#22;&#22;&#1;f1605&#31;reute
r f BC-dome-&lt;dmp>-executives   04-21 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>TURNER TO MEET WITH DOME &lt;DMP> EXECUTIVES</TITLE>
<DATELINE>    Ottawa, April 21 - </DATELINE><BODY>Liberal Party leader John Turner said he
will meet with senior executives of Dome Petroleum Ltd in
Calgary tomorrow to discuss the proposed sale of Dome.
    Turner's office said he will hold a news conference
tomorrow at 1400 MDT (1600 EDT) in Calgary.
    Turner, who is opposition leader in Parliament, has
criticized Dome's acceptance of a 5.1 billion dlr takeover bid
from Amoco Corp &lt;AN> as a sell-out of Canada's oil industry.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21663" NEWID="17013">
<DATE>21-APR-1987 12:13:34.25</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1606&#31;reute
r f BC-NEW-YORK-TIMES-&lt;NYT>   04-21 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW YORK TIMES &lt;NYT> SEES UNEVEN GAINS IN 1987</TITLE>
<DATELINE>    HUNTSVILLE, Ala., April 21 - </DATELINE><BODY>The New York Times Co said
that if prevailing business conditions continue, the company
sees "another outstanding year, although the remaining quarters
of 1987 will probably not show uniform gains."
    The company's first quarter earnings rose 21 pct to 41.1
mln dlrs or 50 cts a share compared to 33.9 mln dlrs or 42 cts
a share in the year-ago quarter restated for a two-for-one
stock split.
   
    The company also said its newspaper division, which
includes the New York Times and 32 regional newspapers, had a
first quarter operating profit of 69.8 mln dlrs compared with
60.7 mln dlrs in the year-ago first quarter mainly due to
advertising volume and rate increases.
    The company's magazine division, which includes "Family
Circle," had a first quarter profit of 9.7 mln dlrs compared to
7.4 mln dlrs in the year ago quarter.
    The company's broadcasting and cable tv group reported an
operating profit of 2.9 mln dlrs compared to 2.6 mln dlrs in
the year-ago first quarter.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21664" NEWID="17014">
<DATE>21-APR-1987 12:14:27.18</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A RM
&#22;&#22;&#1;f1611&#31;reute
u f BC-BANKERS-TRUST-&lt;BT>-TI   04-21 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>BANKERS TRUST &lt;BT> TIES NET TO CURRENCY EARNINGS</TITLE>
<DATELINE>    NEW YORK, April 21 - </DATELINE><BODY>Bankers Trust New York Corp said its
first quarter foreign exchange trading income rose to 82.8 mln
dlrs from 20.9 mln dlrs in the first qtr of 1986, offsetting
the bank's 7.4 mln dlr loss incurred from placing 540 mln dlrs
of Brazilian loans on a non-accrual status.
    Earlier, the bank reported that first quarter net income
increased to 124.2 mln dlrs, or 1.77 dlrs a share, from 115.9
mln dlrs, or 1.64 dlrs a share, a year ago.
    Bankers Trust chairman Alfred Brittain III said increased
non-interest income, a lower provision for loan-losses and
increased net interest income also helped first quarter net.
   
    Bankers Trust previously announced that the 540 mln dlrs in
non-accruable Brazilian loans would cut its first quarter
earnings by 7.4 mln dlrs, and could slice about 30 mln dlrs
from the full year's net.
    Bankers Trust said non-interest income in the first quarter
equaled 275.4 mln dlrs, up 37.1 mln dlrs from a year ago.
    Loan losses fell in the quarter to 22 mln dlrs, versus 40
mln dlrs a year ago while taxable net interest income remained
flat at 266 mln dlrs, the bank said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21665" NEWID="17015">
<DATE>21-APR-1987 12:15:12.80</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f1618&#31;reute
r f BC-ALTEX-&lt;AII>-TO-SELL-O   04-21 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>ALTEX &lt;AII> TO SELL OILFIELD SERVICES ASSETS</TITLE>
<DATELINE>    DENVER, April 21 - </DATELINE><BODY>Altex Industries Inc said it agreed to
sell the assets of its wholly-owned oilfield service
subsidiary, Parrish Oil Tools Inc.
    The price and buyer were not disclosed.
    Altex said Parrish had a loss from operations of 428,000
dlrs on revenues of 881,000 dlrs in fiscal 1986 and a loss from
operations of 48,000 dlrs on revenues of two mln dlrs in fiscal
1985.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21666" NEWID="17016">
<DATE>21-APR-1987 12:17:02.35</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1633&#31;reute
r f BC-IMARK-INDS-&lt;IMAR.O>-V   04-21 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>IMARK INDS &lt;IMAR.O> VOTES ANNUAL 25 CT DIVIDEND</TITLE>
<DATELINE>    GENESEO, ILL., April 21 - </DATELINE><BODY>Imark Industries Inc said its
directors approved payment of an annual dividend of 25 cts on
May 21, record May seven.
    The company paid the same dividend last year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21667" NEWID="17017">
<DATE>21-APR-1987 12:17:09.99</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1634&#31;reute
r f BC-DUQUESNE-LIGHT-&lt;DQU>   04-21 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>DUQUESNE LIGHT &lt;DQU> HURT BY LEGISLATION</TITLE>
<DATELINE>    PITTSBURGH, APril 21 - </DATELINE><BODY>Duquesne Light Co president Wesley
von Schack told shareholders that current state law and
regulatory policies will result in higher capital rates and
higher rates for customers.
    "Pennsylvania's recently enacted excess capacity
legislation denies shareholders the opportunity to earn a fair
return on their investment and undermines economic development
in Pennsylvania," von Schack told shareholders at the annual
meeting.
   
   Von Schack said two major bond rating agencies have recently
downgraded Duquesne's credit rating due to regulatory
uncertainty. The action will result in higher capital rates and
higher rates for customers, he said.
    He said the Pennsylvania Utility commission indicated in
its most recent rate case decision that even if newly
constructed Perry No. 1 nuclear plant was in commercial
operation, shareholders would be denied a return on their
investment in the plant. Von Schack called on shareholders to
join it and certain legislators' efforts to create a
partnership to fight these issues and resolve these problems.
     
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21668" NEWID="17018">
<DATE>21-APR-1987 12:17:49.31</DATE>
<TOPICS><D>interest</D><D>money-fx</D><D>gnp</D></TOPICS>
<PLACES><D>kuwait</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1638&#31;reute
r f BC-CREATIVE-MONETARY-POL   04-21 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>CREATIVE MONETARY POLICY TO SPUR KUWAITI ECONOMY</TITLE>
<AUTHOR>    By Rory Channing, Reuters</AUTHOR>
<DATELINE>    KUWAIT, April 21 - </DATELINE><BODY>Kuwait, a major oil producer hit by last
year's price slump, is leaning towards a more creative monetary
policy to help spur its economy, banking sources said.
    "There is a clear emphasis on encouraging the use of money
in productive ventures, rather than having it all tied up in
interest bearing investments which have no direct productive
outlet," one banker said.
    Kuwait's Central Bank yesterday cut one key money market
rate and abandoned another which had been used since February
1986 to direct inter-bank borrowing and lending costs.
    The bank reduced to six pct from 6-1/2 pct the rate at
which it will offer funds of one month to one year in the
inter-bank market. This, in turn, affected retail rates.
    The cut, the third this year, followed a major overhaul of
interest rate policy last month which Central Bank Governor
Sheikh Salem Abdul-Aziz al-Sabah said was designed to revive
the economy.
    One banker said "There is growing flexibility, creativity,
in interest rate policy, amid an awareness of the need to
diversify the economy by stimulating the non-oil sector."
    For the first time in nearly three years domestic interest
rates are now significantly below those for the U.S. Dollar, a
favourite haven for Gulf speculative and investor funds in the
past, banking sources said.
    Despite uncertainties generated by the 6-1/2 year old Iran-
Iraq war on Kuwait's northern doorstep, bankers play down the
prospect of any significant capital flight.
    The Kuwaiti dinar, whose value is set by the Central Bank
and was fixed today at 0.27095/129 to the dollar, is stronger
now than for several years.
    Fears that the dollar may fall further will prompt second
thoughts among Kuwaiti investors prepared to consider switching
funds into the U.S. Currency, the sources said.
    "There is a distinct exchange rate risk," they added.
    Bankers said the dollar slump hurt many investors behind
the last major capital outflow in 1984, encouraged then by 18
pct U.S. Interest rates and the start of Iranian attacks on
neutral shipping in the Gulf.
    The Central Bank calculates its dinar exchange rate against
a basket of currencies. Bankers do not know the basket's exact
make-up but say it is weighted heavily in favour of the dollar.
    Some bankers believe any strengthening of the dinar beyond
0.27000 to the dollar might provoke investors into shifting
funds into the U.S. Currency. "They may ask:When will the dollar
be so cheap again?" one said.
    And with dinar interest rates now roughly one pct below
those for the dollar, they say the Central Bank faces a
delicate balancing role requiring further flexibility.
    Bankers said the current, expansionary interest rate policy
is only part of a broader attempt to encourage local investment
and strengthen the backbone of the economy.
    They estimate the economy, measured in terms of GDP and
allowing for inflation, shrank 19 pct in 1986 after an 8.1 pct
contraction the previous year.
    Bankers also noted recent measures to stimulate stock
market activity, capped today by sharp cuts in brokerage fees
to make it cheaper for investors to trade.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21669" NEWID="17019">
<DATE>21-APR-1987 12:23:33.91</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1672&#31;reute
r f BC-CSX-&lt;CSX>-UNIT-CHAIRM   04-21 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>CSX &lt;CSX> UNIT CHAIRMAN RETIRES</TITLE>
<DATELINE>    WHITE SULPHUR SPRINGS, W. Va., April 21 - </DATELINE><BODY>CSX Corp said
that Joseph Abely, chairman and chief executive officer of
CSX's Sea-Land Corp unit, will retire by the end of the month.
    The company said he will be replaced by Robert Hintz,
executive vice president of CSX and president and chief
executive officer of the company's energy and properties
groups.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21670" NEWID="17020">
<DATE>21-APR-1987 12:28:08.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1702&#31;reute
d f BC-BRAZIL-FUND-SHOULD-ST   04-21 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL FUND SHOULD START OPERATING SOON</TITLE>
<DATELINE>    SAO PAULO, April 21 - </DATELINE><BODY>A Brazil Fund through which foreign
investors will be able to buy stocks in Brazilian companies
should start operating in about two months, the Securities and
Exchange Commission said.
    A spokesman told Reuters that four institutions in the
United States were interested in participating in the Fund --
Merrill Lynch and Co Inc, Salomon Brothers Inc, the IFC and the
First Boston Corp.
    The spokesman said the Fund, approved last December, was
expected to attract about 100 mln dlrs of investments.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21671" NEWID="17021">
<DATE>21-APR-1987 12:36:27.62</DATE>
<TOPICS><D>oilseed</D><D>rapeseed</D></TOPICS>
<PLACES><D>japan</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1756&#31;reute
u f BC-JAPAN-BUYS-4,000-TONN   04-21 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN BUYS 4,000 TONNES OF CANADIAN RAPESEED</TITLE>
<DATELINE>    WINNIPEG, April 21 - </DATELINE><BODY>Japan bought 4,000 tonnes of Canadian
rapeseed for last-half May/first-half June shipment, nearly
completing buying for May needs, trade sources said. 
    Price details were not available.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21672" NEWID="17022">
<DATE>21-APR-1987 12:39:08.68</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>south-korea</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1763&#31;reute
u f BC-SOUTH-KOREA-BUYS-50,0   04-21 0038</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTH KOREA BUYS 50,000 TONNES CANADIAN WHEAT</TITLE>
<DATELINE>    WINNIPEG, April 21 - </DATELINE><BODY>South Korea yesterday bought 50,000
tonnes of Canadian feed wheat for late June/early July shipment
at 95.00 dlrs per tonne FOB Vancouver, trade sources said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21673" NEWID="17023">
<DATE>21-APR-1987 12:39:55.30</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f1766&#31;reute
r f BC-WASHINGTON-BUDGET   04-21 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>SENATE PREPARING FOR NEW U.S. BUDGET BATTLE</TITLE>
<AUTHOR>    By Michael Posner, Reuters</AUTHOR>
<DATELINE>    WASHINGTON, April 21 - </DATELINE><BODY>Congress returned from its Easter
recess ready for the annual Spring budget battle that promises
to be a partisan dispute.
    The budget fight pitting Democrats against President Reagan
and Republicans is expected to get underway this week in the
Senate late this week and last at least another week. It is
taking on new prominence because of current trade woes.
    That is because the budget problems and its associated huge
deficits are said to be at the root of related international
trade friction currently worrying financiers.
    As the dollar slides downward on global markets and stock
exchanges gyrate wildly, the trade dispute involving the United
States and Japan once again is spreading fears of a major trade
war between the two trading giants for the first time since
World War II.
    Ostensibly that dispute is over U.S. charges that Japan is
refusing to open its markets to semi-conductor chips and the
resulting U.S. tariffs doubling prices of Japanese televisions
and small computers.
    Behind the elements of a brewing trade war which neither
side wants, is the dilemma of the U.S. budget and its deficit.
    Some analysts say the financial markets may be waking up to
the economic realities that the huge debt cannot continue to
grow without repercussions.
    A large portion of the U.S. debt has been financed by
foreigners from their accumulated trade surpluses. But if they
withdraw this support the result can only be further problems,
including higher interest rates for Americans.
    In a nutshell, the U.S. budget process has now moved to the
showdown stages in Congress. Reagan's own trillion dollar
spending budget for the government year 1988, starting Oct. 1,
was trounced badly in the House on April 9.
    The Senate takes up a plan similar to one that passed the
House, calling for slashing the deficit from its estimated 171
billion dlr level next year to about 134 billion dlrs, through
defense and domestic spending cuts and about 18.5 billion dlrs
in new, unspecified, taxes. As the Senate prepares to take up
its own budget plan, majority Democrats predict there will be
passage of a bill, only after a protracted partisan battle.
    In the House, not one Republican voted for the budget,
which passed by 230 to 192. In the Senate, none of Reagan's
Republicans voted for the budget as it passed out of the Senate
Budget Committee for full Senate consideration.
    A key Senate Budget Committee source told Reuters he
believes this very unusual unanimous opposition was by design
among congressional Republicans, perhaps with the tacit
approval of the White House.
    "Republicans want Democrats to take the heat for any tax
hikes and defense cuts," he said.
    In the coming weeks, the source said, Democrats will press
for a bipartisan budget and seek a negotiated budget with
Reagan -- who already is opposed to the idea. But "it is not
clear how the Republicans will act," he added.
    He said Republicans may propose their own plan for lower
taxes and more defense spending, which they did not offer after
Reagan's budget was clobbered in an early vote in the House.
     When Reagan entered the White House in 1981, he inherited
what was labelled a huge deficit from Jimmy Carter that wound
up to be nearly 79 billion dlrs that year.
    Despite Reagan's promise to balance the budget by 1983,
critics note that his administration's record of accumulated
debt is estimated over one trillion dlrs, or 1,100 billion
dlrs.
    That is money the government must borrow, and pay back, and
many analysts say it is what kept the dollar high and caused
the worst U.S. trade deficit ever.
     Last year the United States bought goods from the world
worth 169.8 billion dlrs more than what it sold, including
purchases of 58.6 billion dlrs in Japanese goods.
    While Congress is trying to attack the trade deficit on one
front through a get-tough trade bill promising retaliatory
measures unless all markets are opened, its success so far
against the budget deficit has been marked by limited progress.
    Congress, which controls the pursestrings, has put the
deficit on a downward path from its record high of 220.7
billion dlrs accumulated in fiscal 1986, which ended Sept. 30.
    Because of the Gramm-Rudman-Hollings balanced budget law
enacted in late 1985, there has been pressure on Congress to do
more than talk about deficits.
    That law, named after Republican Senators Phil Gramm of
Texas, Warren Rudman of New Hampshire and Democrat Ernest
Hollings of South Carolina, calls for a balanced budget by 1991
through a series of set deficit targets that Congress must meet.
    The law has been followed, even though an enforcement
mechanism to mandate automatic across-the-board cuts if
Congress misses its goal was stricken by the Supreme Court.
    The legislators have followed the targets -- on paper. But
in reality, the goal has actually been missed. For example,
Congress last year approved legislation to meet the 1987 target
of a 144 billion dlr deficit. But even after approving the
numbers, the deficit for 1987 is estimated at over 170 billion
dlrs -- far off the target.
    This year the target is 108 billion dlrs and that goal is
expected to be missed widely.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21674" NEWID="17024">
<DATE>21-APR-1987 12:42:37.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f1778&#31;reute
r f BC-COMMONWEALTH-EDISON-&lt;   04-21 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>COMMONWEALTH EDISON &lt;CWE> SELLS MORTGAGE BONDS</TITLE>
<DATELINE>    NEW YORK, April 21 - </DATELINE><BODY>Commonwealth Edison Co is raising 360
mln dlrs via a two-tranche offering of first and refunding
mortgage bonds, said lead manager Morgan Stanley and Co Inc.
    A 200 mln dlr issue of bonds due 1990 has an 8-1/8 pct
coupon and was priced at 99.775 to yield 8.21 pct, or 65 basis
points over comparable Treasury securities.
    A 160 mln dlr offering of bonds due 1992 has an 8-5/8 pct
coupon and was priced at 99.85 to yield 8.661 pct, or 78 basis
points more than Treasuries. Both tranches are non-callable for
life and rated A-3 by Moody's and A by S and P. Salomon
Brothers Inc co-managed the deal.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21675" NEWID="17025">
<DATE>21-APR-1987 12:47:33.66</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1796&#31;reute
r f BC-ROYAL-RESOURCES   04-21 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>BUSINESSMAN HAS ROYAL RESOURCES &lt;RRCO.O> STAKE</TITLE>
<DATELINE>    WASHINGTON, April 21 - </DATELINE><BODY>James Stuckert, a Louisville, Ky.,
businessman, told the Securities and Exchange Commission he has
acquired 380,000 shares of Royal Resources Corp, or 5.7 pct of
the total outstanding common stock.
    Stuckert said he bought the stake for 600,000 dlrs solely as
an investment.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21676" NEWID="17026">
<DATE>21-APR-1987 12:48:28.99</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1800&#31;reute
d f BC-ATT-&lt;T>-LAUNCHES-SYST   04-21 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>ATT &lt;T> LAUNCHES SYSTEMS FOR SMALL BUSINESSES</TITLE>
<DATELINE>    NEW YORK, April 21 - </DATELINE><BODY>American Telephone and Telegraph Co
introduced two communications systems, Spirit and Merlin, and
other products, in a bid to strengthen its position with small
businesses, the company said.
    The Spirit system, with a basic price tag of 1,500 dlrs,
can handle up to six lines and 16 telephones and a more
advanced line which can handle up to 24 lines and 48
tlelphones.
    ATT said the Merlin line, which starts at 2,500 dlrs, can
handle up to 32 lines and 72 telephones.
    ATT said the new products will eventually replace the
current Merlin product family. Some of the systems will be
available in May and others in the third quarter.
    ATT also introduced software enhancements for the System
25, for business that require PBX voice and data communications
and need up to 150 phones. These and other enhancements will be
available in the third quarter, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21677" NEWID="17027">
<DATE>21-APR-1987 12:53:58.04</DATE>
<TOPICS><D>cpi</D></TOPICS>
<PLACES><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1823&#31;reute
r f BC-SPAIN-MAINTAINS-FIVE   04-21 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>SPAIN MAINTAINS FIVE PCT INFLATION TARGET</TITLE>
<DATELINE>    MADRID, April 21 - </DATELINE><BODY>Spanish Secretary of State for the
economy Guillermo de la Dehesa said the government maintained
its five pct inflation target for this year although a 0.6 pct
increase in March pushed the rise in the year on year consumer
price index to 6.3 pct.
    De la Dehesa said the March rise, announced today by the
National Statistics Institute, was not entirely satisfactory
but acceptable.
    The year on year rate at the end of February was six pct.
Prices rose 8.3 pct last year.
    The March rise included a 0.05 pct increase correcting an
error in last January's consumer price index. Economists had
earlier said the error could have been as high as 0.2 pct.
    De la Dehesa said seasonal increases in food prices pushed
the index up in March and he expected the rate to be lower in
April.
    The Communist-led Workers Commissions union said the March
price rise showed inflation was going up again and the
government looked increasingly unlikely to meet its five pct
target.
    The Workers Commissions said the inflation trend fuelled
unions's claims to wage increases beyond the government's
recomendation to limit wage rises at around five pct.
    Spain is being affected by a two-month-old wave of strikes
for wage rises. Government officials note wage settlements so
far this year have yielded average increases upwards of six
pct, while unions say the figure is higher then seven pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21678" NEWID="17028">
<DATE>21-APR-1987 13:00:06.84</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f1842&#31;reute
u f BC-API-SAID-STATISTICS-T   04-21 0036</UNKNOWN>
<TEXT>&#2;
<TITLE>API SAID STATISTICS TO BE RELEASED TONIGHT</TITLE>
<DATELINE>    NEW YORK, April 21 - </DATELINE><BODY>The American Petroleum Institute said
it plans to release its weekly report on U.S. oil inventories
tonight, even though last Friday was a holiday.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1671" NEWID="17029">
<DATE>23-APR-1987 18:32:18.42</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;F
&#22;&#22;&#1;f3036&#31;reute
r f BC-GCA-&lt;GCA>-COMPLETES-F   04-23 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>GCA &lt;GCA> COMPLETES FINANCIAL RESTRUCTURING</TITLE>
<DATELINE>    ANDOVER, Mass., April 23 - </DATELINE><BODY>GCA Corp said it completed its
previously announced plan of financial restructuring under
which Hallwood Group Inc &lt;HWG> took a 14 pct interest in the
company, a maker of semiconductor manufacturing equipment.
    The company said it also implemented a one-for-50 reverse
stock split.
    Under terms of the plan, the company exchanged about 109
mln dlrs in debt to creditors and suppliers for 43 mln dlrs in
cash, and warrants to purchase 2.2 mln shares of its common
stock. GCA also raised 71.7 mln dlrs through the sale of common
stock.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1670" NEWID="17030">
<DATE>23-APR-1987 18:34:33.58</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;F
&#22;&#22;&#1;f3040&#31;reute
u f BC-SEC   04-23 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>SEC WARNS SECURITIES DEALERS ON HIGH MARK-UPS</TITLE>
<DATELINE>    WASHINGTON, April 23 - </DATELINE><BODY>The Securities and Exchange
Commission reminded securities dealers that its mark-up
disclosure requirements also applies to transactions on
zero-coupon securities.
    Dealers and brokers are required by U.S. securities law to
disclose their mark-ups if they are excessive, the SEC said in
a public notice.
    Further, excessive mark-ups on securities transactions,
whether disclosed or not, violate the rules of the national
Association of Securities Dealers Inc and Municipal Securities
Rulemaking Board, it said.
    In a separate action, the SEC filed a friend-of-the-court
brief in a private civil case involving a complaint against
Merrill Lynch over excessive mark-ups on zero-coupon bonds. The
case is being appealed to the U.S. Appeals Court.
    The lower court dismissed the complaint, finding antifraud
provisions of securities laws do not prohibit undisclosed
excessive mark-ups on securities transactions.
    The SEC is urging the appeals court to reverse the
decision, citing its nearly 50 year-old position that
undisclosed excessive mark-ups by securities dealers violate
the general antifraud provisions of securities laws.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1672" NEWID="17031">
<DATE>23-APR-1987 18:37:03.79</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;E F
&#22;&#22;&#1;f3044&#31;reute
u f BC-SOUTHAM-INC-&lt;STM.TO>   04-23 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTHAM INC &lt;STM.TO> 1ST QTR NET</TITLE>
<DATELINE>    TORONTO, April 23 -
    </DATELINE><BODY>Oper shr 32 cts vs 37 cts
    Oper net 18.9 mln vs 21.6 mln
    Revs 352.1 mln vs 323.0 mln
    Note: 1987 net excludes extraordinary gain of 2.8 mln dlrs
or five cts shr from sale of surplus property.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1673" NEWID="17032">
<DATE>23-APR-1987 18:45:40.42</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;F
&#22;&#22;&#1;f3052&#31;reute
r f BC-LOCTITE-CORP-&lt;LOC>-3R   04-23 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>LOCTITE CORP &lt;LOC> 3RD QTR MARCH 31 NET</TITLE>
<DATELINE>    NEWINGTON, Conn., April 23 - 
    </DATELINE><BODY>Shr 96 cts vs 53 cts
    Net 8,663,000 vs 4,798,000
    Revs 89.7 m ln vs 66.8 mln
    Nine mths
    Shr 2.33 dlrs vs 1.67 dlrs
    Net 21.1 mln vs 15.1 mln
    Revs 241.3 mln vs 192.8 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1674" NEWID="17033">
<DATE>23-APR-1987 18:56:03.00</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;RM V
&#22;&#22;&#1;f3056&#31;reute
u f BC-U.S.-CONGRESS-STILL-A   04-23 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. CONGRESS STILL ANGRY WITH JAPAN - ABE</TITLE>
<DATELINE>    NEW YORK, April 23 - </DATELINE><BODY>Special Japanese envoy Shintaro Abe
said in a brief interview with Reuters that the feeling in the
U.S. congress is "very severe" against Japan.
    However, Abe said he believed that neither Congress nor the
Reagan administration wants to undermine relations with Japan.
    He said the Reagan administration showed "relative
understanding" of how Japan is trying to alleviate its U.S.
trade imbalance. Abe said he was convinced "Congress and the
administration had the same view that the relationship between
Tokyo and Washington should not be undermined."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1675" NEWID="17034">
<DATE>23-APR-1987 18:59:23.50</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;F
&#22;&#22;&#1;f3060&#31;reute
u f BC-GLENFED-INC-&lt;GLN>-3RD   04-23 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>GLENFED INC &lt;GLN> 3RD QTR MARCH 31 NET</TITLE>
<DATELINE>    GLENDALE, Calif., April 23 - 
    </DATELINE><BODY>Oper shr 1.54 dlrs vs 82 cts
    Oper net 33.7 mln vs 17.66 mln
    Revs 473.1 mln vs 419.0 mln
    Nine mths
    Oper shr 4.60 dlrs vs 2.39 dlrs
    Oper net 100.4 mln vs 51.0 mln
    Revs 1.38 billion vs 1.21 billion
    Assets 18.5 billion vs 15.5 billion
    Deposits 13.00 billion vs 11.29 billion
    Loans 15.04 billion vs 12.56 billion
    Note: Oper net excludes extraordinary loss 6,636,000 and
11.9 mln for 1987 qtr and nine mths on prepayment of borrowings
from the Federal Home Loan Bank Board.
    Oper also excludes tax credits of 15.8 mln vs 5,954,000 for
qtr and 17.8 mln vs 11.6 mln for nine mths.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1676" NEWID="17035">
<DATE>23-APR-1987 19:00:51.40</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;F
&#22;&#22;&#1;f3062&#31;reute
r f BC-HORIZON-INDUSTRIES-IN   04-23 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>HORIZON INDUSTRIES INC &lt;HRZN> 2ND QTR NET</TITLE>
<DATELINE>    CALHOUN, Ga., April 23 - </DATELINE><BODY>Qtr ended April four
    Shr profit eight cts vs loss 22 cts
    Net profit 341,000 vs loss 903,000
    Revs 58.4 mln vs 46.3 mln
    Six mths
    Shr profit 35 cts vs loss 19 cts
    Net profit 1,466,000 vs loss 767,000
    Revs 121.4 ln vs 95.9 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1677" NEWID="17036">
<DATE>23-APR-1987 19:02:27.01</DATE>
<TOPICS><D>money-supply</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;RM V
&#22;&#22;&#1;f3063&#31;reute
u f BC-/FED-DATA-PROVIDE-NEW   04-23 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>FED DATA PROVIDE NEW EVIDENCE OF TIGHTER POLICY</TITLE>
<AUTHOR>    By Alan Wheatley, Reuters</AUTHOR>
<DATELINE>    NEW YORK, April 23 - </DATELINE><BODY>U.S. banking data released today are
too distorted to draw sweeping conclusions about monetary
policy, but they do support the market's assumption that the
Federal Reserve has started to tighten its grip on credit,
economists said.
    "It's clear that the Fed has firmed somewhat. Discount
window borrowings, net free reserves, the Fed funds rate
average and the pattern of reserve additions are all consistent
with a modest tightening," said Dana Johnson of First Chicago
Corp.
    Johnson, and several other economists, now estimate that
the Fed funds rate should trade between 6-1/4 and 6-3/8 pct.
    Discount window borrowings in the week to Wednesday were
935 mln dlrs a day, producing a daily average for the two-week
statement period of 689 mln dlrs, the highest since the week of
December 31, 1986, and up from 393 mln dlrs previously.
    Moreover, banks were forced to borrow a huge 5.2 billion
dlrs from the Fed on Wednesday - the highest daily total this
year - even though unexpectedly low Treasury balances at the
Fed that day left banks with over two billion dlrs more in
reserves than the Fed had anticipated.
    However, economists said it is almost certain that the Fed
is aiming for much lower discount window borrowings than
witnessed this week. They pointed to two factors that may have
forced banks to scramble for reserves at the end of the week.
    First, economists now expect M-1 money supply for the week
ended April 29 to rise by a staggering 15 to 20 billion dlrs,
partly reflecting the parking in checking accounts of the
proceeds from stock market sales and mutual fund redemptions to
pay annual income taxes.
    As banks' checking-account liabilities rise, so do the
reserves that they are required to hold on deposit at the Fed.
    Required reserves did indeed rise sharply by 2.5 billion
dlrs a day in the two weeks ended Wednesday, but economists
said the Fed may not have believed in the magnitude of the
projected M-1 surge until late in the week and so started to
add reserves too late.
    Second, an apparent shortage of Treasury bills apparently
left Wall Street dealers with too little collateral with which
to enagage in repurchase agreements with the Fed, economists
said. Thus, although there were 10.3 billion dlrs of repos
outstanding on Wednesday night, the Fed may have wanted to add
even more reserves but was prevented from doing so.
    "It's not at all inconceivable that the Fed didn't add as
much as they wanted to because of the shortage of collateral,"
said Ward McCarthy of Merrill Lynch Economics Inc.
    McCarthy estimated that the Fed is now targetting
discount-window borrowings of about 400 mln dlrs a day,
equivalent to a Fed funds rate of around 6-3/8 pct.
    After citing the reasons why the Fed probably has not
tightened credit to the degree suggested by the data,
economists said the fact that the Fed delayed arranging 
overnight injections of reserves until the last day of the
statement period was a good sign of a more restrictive policy.
    Jeffrey Leeds of Chemical Bank had not been convinced that
the Fed was tightening policy. But after reviewing today's
figures, he said, "It's fair to say that the Fed may be moving
toward a slightly less accommodative reserve posture."
    Leeds expects Fed funds to trade between 6-1/4 and 6-3/8
pct and said the Fed is unlikely to raise the discount rate
unless the dollar's fall gathers pace.
    Johnson at First Chicago agreed, citing political
opposition in Washington to a dollar-defense package at a time
when Congress sees further dollar depreciation as the key to
reducing the U.S. trade surplus with Japan.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1678" NEWID="17037">
<DATE>23-APR-1987 19:08:09.42</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;F
&#22;&#22;&#1;f3066&#31;reute
r f BC-RORER-GROUP-INC-&lt;ROR>   04-23 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>RORER GROUP INC &lt;ROR> 1ST QTR NET</TITLE>
<DATELINE>    FORT WASHINGTON, Pa., April 23 - 
    </DATELINE><BODY>Oper shr profit 34 cts vs loss 78 cts
    Oper net profit 7,434,000 vs loss 17.0 mln
    Revs 201.2 mln vs 171.7 mln
    Note: Year-ago oper exludes gain on sale of businesses of
139.6 mln.
    Year-ago oper includes charges of 27.8 mln resulting from
allocation of the purchase price of Revlon's businesses to
inventory and 7.1 mln for restructuring costs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1679" NEWID="17038">
<DATE>23-APR-1987 19:36:56.77</DATE>
<TOPICS><D>coffee</D></TOPICS>
<PLACES><D>costa-rica</D><D>guatemala</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ico-coffee</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;T
&#22;&#22;&#1;f3073&#31;reute
u f AM-centam-coffee   04-23 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>MILD COFFEE GROWERS TO MEET IN GUATEMALA</TITLE>
<DATELINE>     SAN JOSE, April 23 - </DATELINE><BODY>A large group of "other milds"
coffee-growing nations will hold talks in Guatemala next month
to map their strategy for next September's meeting of the
International Coffee Organisation (ICO).
    Mario Fernandez, executive director of the Costa Rican
coffee institute, said delegates from Mexico, the Dominican
Republic, Peru, Ecuador, India, Papua New Guinea and five
central american nations will participate in the two-day
strategy session beginning May 4.
    The main topic will be reform of what many producing
countries perceive as the ICO's unfair distribution of export
quotas, Fernandez said.
    He said Costa Rica would press for quotas "based on the
real production and export potential of each country in the
past few years" and to distribute quotas based on "historic"
production levels rather than recent harvests and crop
estimates.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1680" NEWID="17039">
<DATE>23-APR-1987 19:48:08.94</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;F
&#22;&#22;&#1;f3076&#31;reute
u f AM-COMSAT   04-23 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>US STUDY DISCUSSES DROPPED COMSAT-CONTEL MERGER</TITLE>
<DATELINE>    WASHINGTON, April 23 - </DATELINE><BODY>A congressional study today said the
proposed, but now apparently abandoned, merger of the
Communications Satellite Corp &lt;CQ> and Contel Corp &lt;CTC>
would technically be legal but could violate the spirt of the
law setting up COMSAT.
    Two weeks ago before the study was completed, Contel
announced it would seek to terminate the proposed merger.
    The study by the non partisan Congressional Research
Service (CRS) said "the proposed merger appears to comply,
technically, with the mandates or letter of statutes, if may
nevertheless violate the spirit of the law."
    Comsat, created by a 1962 act of Congress, and Contel, a
corporation of local telephone and communications firms, filed
with the Federal Communications Commission last November 3 an
application for merger. Several firms had protested the
proposed merger.
    In an analysis of the law, the research service issued
several critical comments about the structure of the new firm
and said apparent domination by Contel of a restructured COMSAT
would have broken the spirit of the law setting up
COMSAT.COMSAT is the U.S. arm of Intelstat, the international
satellite communications firm. 
 
Reuter...^M
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1681" NEWID="17040">
<DATE>23-APR-1987 19:48:47.25</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE><D>nakasone</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;C
&#22;&#22;&#1;f3077&#31;reute
u f BC-JAPANESE-PARLIAMENT-P   04-23 0138</UNKNOWN>
<TEXT>&#2;
<TITLE>SETBACK SEEN FOR NAKASONE IN JAPANESE PARLIAMENT</TITLE>
<DATELINE>    TOKYO, April 24 - </DATELINE><BODY>Japan's Lower House passed the 1987
budget after the ruling Liberal Democratic Party agreed to a
mediation proposal that could kill its plan to introduce a
controversial sales tax, political analysts said.
    The move was seen as a major blow to Prime Minister
Yasuhiro Nakasone, the leading advocate of the five pct tax.
    Some analysts predicted Nakasone might be forced to step
down just after the June summit of leaders from major
industrial democracies, well before his one-year term is due to
expire at the end of October.
    The ruling party though was anxious to pass the budget
before Nakasone leaves next week for the U.S. so that he could
tell Washington the Japanese government was doing its utmost to
boost the sagging economy and imports.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1682" NEWID="17041">
<DATE>23-APR-1987 20:21:46.09</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;RM
&#22;&#22;&#1;f3091&#31;reute
b f BC-BANK-OF-JAPAN-INTERVE   04-23 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF JAPAN INTERVENES IN TOKYO MARKET</TITLE>
<DATELINE>    TOKYO, April 24 - </DATELINE><BODY>The Bank of Japan intervened just after
the Tokyo market opened to support the dollar from falling
below 140.00 yen, dealers said.
    The central bank bought a moderate amount of dollars to
prevent its decline amid bearish sentiment for the U.S.
Currency, they said.
    The dollar opened at a record Tokyo low of 140.00 yen
against 140.70/80 in New York and 141.15 at the close here
yesterday. The previous Tokyo low was 140.55 yen set on April
15.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1683" NEWID="17042">
<DATE>23-APR-1987 20:24:10.50</DATE>
<TOPICS><D>money-supply</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;RM
&#22;&#22;&#1;f3092&#31;reute
b f BC-AUSTRALIA'S-M-3-MONEY   04-23 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIA'S M-3 MONEY SUPPLY RISE 1.5 PCT IN MARCH</TITLE>
<DATELINE>    SYDNEY, April 24 - </DATELINE><BODY>Australia's M-3 money supply growth was
1.5 pct in March and 11.3 pct in the 12 months to March, the
Reserve Bank said.
    This compared with a revised rise of 0.5 pct in February
and 11.1 pct in the year to end-February.
    The Reserve Bank said the M-3 data for March was affected
by the start of the operations of &lt;National Mutual Royal
Savings Bank Ltd>, which has resulted in the transfer of
deposits (equivalent to around 1.5 pct of m-3) from the United
Permanent Building Society to National Mutual Royal Savings
Bank Ltd.
    The Reserve Bank said M-3 money supply in March was 110.77
billion Australian dlrs compared with a revised 109.11 billion
in February and 99.48 billion in March, 1986.
    M-3 is deposits of the private sector held by trading and
savings banks plus holdings of notes and coins.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1684" NEWID="17043">
<DATE>23-APR-1987 20:30:17.87</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;RM
&#22;&#22;&#1;f3094&#31;reute
b f BC-JAPANESE-PARLIAMENT-P   04-23 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPANESE PARLIAMENT PASSES 1987 BUDGET</TITLE>
<DATELINE>    TOKYO, April 24 - </DATELINE><BODY>Parliament's Lower House passed the 1987
budget shortly before midnight local time, official
parliamentary sources said.
    The move followed agreement by the ruling Liberal
Democratic Party to a proposal that could kill its plan to
introduce a controversial sales tax, political analysts said.
The move was seen as a major blow to Prime Minister Yasuhiro
Nakasone, the leading advocate of the five pct tax, they said.
    Some analysts said Nakasone may be forced to step down
after the June summit of heads of major industrial democracies
and before his one-year term is due to expire at end-October.
    Under the compromise agreed by the LDP and opposition
parties, Lower House Speaker Kenzaburo Hara will take charge of
the sales tax bill, appoint a ruling/opposition party council
to debate it and allow opposition leaders to review the present
tax system, analysts said.
    Hara also verbally agreed to scrap the sales tax plan
entirely if the joint council fails to reach agreement on how
to handle the tax.
    The opposition parties, who have been vociferously
attacking the sales tax plan for months, hailed the decision as
a great victory.
    The opposition parties had already delayed passage of the
budget for three weeks after the April 1 start of the fiscal
year by intermittent parliamentary boycotts.
    Although the LDP had more than enough votes to ram the
budget through parliament, it had been reluctant to do so for
fear of a backlash of public opinion, especially after its
setback in recent local elections due to the sales tax issue.
    The ruling party though was anxious to pass the budget
before Nakasone leaves next week for the U.S. So that he could
tell Washington the Japanese government was doing its utmost to
boost the sagging economy and imports.
    According to Kyodo News Service, Nakasone told reporters he
did not think the sales tax was dead.
    If the sales tax is dropped, it could prove a major boost
to the economy because it would increase the government budget
deficit, economists said.
    The sales tax was originally scheduled to be introduced
next January to help offset the loss of government revenues
stemming from a cut in income and corporate taxes due to go
into effect this month.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1685" NEWID="17044">
<DATE>23-APR-1987 20:35:24.14</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;RM
&#22;&#22;&#1;f3095&#31;reute
f f BC-Dollar-trades-at-post   04-23 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Dollar trades at post-war low of 139.50 yen in Tokyo - brokers
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1686" NEWID="17045">
<DATE>23-APR-1987 21:19:18.12</DATE>
<TOPICS><D>dlr</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;RM
&#22;&#22;&#1;f3111&#31;reute
f f BC-Many-major-nations-ye   04-23 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Many major nations yesterday intervened heavily to aid dlr - Miyazawa
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1687" NEWID="17046">
<DATE>23-APR-1987 21:25:22.52</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;F
&#22;&#22;&#1;f3114&#31;reute
f f BC-STANDARD-OIL-SAYS-BRI   04-23 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>STANDARD OIL SAYS BRITISH PETROLEUM SHARE TENDER EXTENDED UNTIL MAY 4
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1688" NEWID="17047">
<DATE>23-APR-1987 21:28:14.05</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE><D>miyazawa</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;RM
&#22;&#22;&#1;f3115&#31;reute
b f BC-JAPAN-HAS-NO-PLANS-FO   04-23 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN HAS NO PLANS FOR NEW MEASURES TO AID DLR</TITLE>
<DATELINE>    TOKYO, April 24 - </DATELINE><BODY>Finance Minister Kiichi Miyazawa said
Japan has no plans to take new emergency measures to support
the dollar, other than foreign exchange intervention.
    He also told reporters that many major nations yesterday
intervened heavily to support the dollar against the yen.
    Yesterday's intervention was large in terms of the
countries involved and the amounts expended, he said.
    With the continued fall of the dollar against the yen,
0speculation had arisen in currency markets here that Japan
might take new measures to support the U.S. Currency, such as
curbing capital outflows.
    Miyazawa said that yesterday's news of a 4.3 pct rise in
U.S. Gnp in the first quarter had been expected. Although the
growth looks robust on the surface, the figures in reality are
not that good, he said.
    He said the ruling Liberal Democratic Party (LDP) is
expected to come up with a final set of recommendations of ways
to stimulate the Japanese economy before Prime Minister
Yasuhiro Nakasone leaves for Washington next week.
    Commenting on yesterday's report on economic restructuring
by a high-level advisory panel to Nakasone, Miyazawa said it
was important to put the panel's recommendations into effect.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1689" NEWID="17048">
<DATE>23-APR-1987 21:34:36.89</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;F
&#22;&#22;&#1;f3117&#31;reute
b f BC-STANDARD-OIL-SAYS-BP   04-23 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>STANDARD OIL SAYS BP EXTENDS TENDER</TITLE>
<DATELINE>    NEW YORK, April 23 - </DATELINE><BODY>Standard Oil Co &lt;SRD> said in a brief
announcement issued after a meeting of its board of directors
that British Petroleum Co PLC &lt;BP.L> (BP) has extended its 70
dlr per share tender offer until midnight May 4.
    The offer for the 45 pct of Standard shares not owned by BP
had been due to expire midnight April 28.
    Standard Oil said discussions with BP concerning the tender
were continuing but provided no further details.
    "So long as those discussions continue, no recommendation
will be made to Standard Oil shareholders regarding the offer,"
Standard said.
    Standard directors met at the company's Cleveland
headquarters on Thursday in a regularly scheduled meeting. The
spokesman was unable to say if the meeting would continue on
Friday.
    A committee of independent directors previously obtained an
opinion from First Boston Corp that the Standard shares were
worth 85 dlrs each, 15 dlrs more than the BP offer.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1690" NEWID="17049">
<DATE>23-APR-1987 21:38:26.85</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;F
&#22;&#22;&#1;f3120&#31;reute
u f BC-QANTAS-TO-BUY-EXTENDE   04-23 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>QANTAS TO BUY EXTENDED RANGE BOEING 767 AIRCRAFT</TITLE>
<DATELINE>    SYDNEY, April 24 - </DATELINE><BODY>State-owned &lt;Qantas Airways Ltd> said it
has placed a firm order for a single Boeing Co &lt;BA.N> 767-300ER
(extended range) aircraft for delivery in August 1988 at a cost
of 150 mln Australian dlrs, including spares.
    A statement said it also has options to buy six more and
will decide in mid-1987 whether to use engines made by United
Technologies Corp &lt;UTX> unit Pratt and Whitney or General
Electric Co &lt;GE>.
    The 767-300ER can carry more cargo and passengers and is
more fuel-efficient than the 767-200, six of which Qantas has
in service.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1691" NEWID="17050">
<DATE>23-APR-1987 21:40:47.37</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;RM
&#22;&#22;&#1;f3123&#31;reute
u f BC-JAPAN-AGENCY-URGES-WA   04-23 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN AGENCY URGES WATCH ON YEN RISE EFFECTS</TITLE>
<DATELINE>    TOKYO, April 24 - </DATELINE><BODY>Japan should look out for possible
effects of the yen's recent sharp rise on Japan's economy as
growth remains slow, the government's Economic Planning Agency
said in a monthly report submitted to cabinet ministers.
    EPA officials told reporters the underlying trend of the
economy is firm but growth is slow due to sluggish exports.
    Customs-cleared exports by volume fell 4.9 pct
month-on-month in February after a 2.8 pct fall in March.
    The government must take adequate economic measures to
expand domestic demand and stabilise exchange rates in a bid to
ensure sustained econonic growth, the report said.
    The report made a special reference to the yen's renewed
rise and its effect on the economy, the officials said, adding
the agency's judgement of current economic conditions has not
changed since last month.
    The EPA said last month Japan's economy is beginning to
show signs of bottoming out, conditional upon exchange rates.
    The dollar fell below 139 yen in early trading today - a
post-war low.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1692" NEWID="17051">
<DATE>23-APR-1987 22:03:13.44</DATE>
<TOPICS><D>money-supply</D><D>interest</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;RM
&#22;&#22;&#1;f3135&#31;reute
b f BC-JAPAN-DOES-NOT-INTEND   04-23 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN DOES NOT INTEND TO EASE CREDIT - OFFICIALS</TITLE>
<DATELINE>    TOKYO, April 24 - </DATELINE><BODY>The Bank of Japan does not intend to ease
credit policy further, bank officials told Reuters.
    They were responding to rumours in the Japanese bond market
that the central bank was planning to cut its 2.5 pct discount
rate soon, possibly before Prime Minister Yasuhiro Nakasone
leaves for Washington on April 29.
    Bank of Japan governor Satoshi Sumita will be in Osaka,
western Japan on April 27 and 28 for the annual meeting of the
Asian Development Bank, making a rate cut announcement early
next week a virtual impossibility, they said. April 29 is a
holiday here.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1693" NEWID="17052">
<DATE>23-APR-1987 22:49:55.57</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;RM
&#22;&#22;&#1;f3162&#31;reute
u f BC-NATIONAL-MUTUAL-CUTS   04-23 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>NATIONAL MUTUAL CUTS AUSTRALIAN PRIME TO 17.75 PCT</TITLE>
<DATELINE>    MELBOURNE, April 24 - </DATELINE><BODY>National Mutual Royal Bank Ltd said
it would cut its prime rate to 17.75 pct from 18.25, effective
April 27.
    The cut follows a trend toward lower rates started last
month and accelerated by Westpac Banking Corp, which yesterday
cut its prime to 17.50 pct from 18.25 pct. Westpac's 17.50 pct
is the lowest prevailing rate.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1694" NEWID="17053">
<DATE>23-APR-1987 23:12:19.63</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>australia</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;F
&#22;&#22;&#1;f3171&#31;reute
u f BC-ELDERS-PURCHASE-OF-CA   04-23 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>ELDERS PURCHASE OF CANADIAN BREWER APPROVED</TITLE>
<DATELINE>    SYDNEY, April 24 - </DATELINE><BODY>Elders IXL Ltd &lt;ELXA.S> said the
Canadian government approved its bid for &lt;Carling O'Keefe Ltd>.
    Elders earlier announced it was buying 10.9 mln shares, or
50.1 pct of Carling, from the Canadian subsidiary of Rothmans
International Plc &lt;ROT.L> for 18 Canadian dlrs each.
    Elders chairman John Elliott said in a statement when the
offer for the ordinary shares closed on April 23, that
acceptances representing over 93 pct of outstanding shares had
been received. &lt;IXL Holdings> would proceed to acquire the rest
compulsorily, he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1695" NEWID="17054">
<DATE>23-APR-1987 23:51:21.93</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>ecuador</D><D>colombia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>opec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;RM
&#22;&#22;&#1;f3186&#31;reute
u f BC-ECUADOR-TO-USE-COLOMB   04-23 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>ECUADOR TO USE COLOMBIA OIL LINK FOR FIVE YEARS</TITLE>
<DATELINE>    BOGOTA, April 23 - </DATELINE><BODY>Ecuador will use a new pipeline link
with Colombia to export crude oil for the next five years,
Colombian mines and energy minister Guillermo Perry said.
    The link will be inaugurated on May 8. It was built to
allow Ecuador to resume exports of crude oil halted on March 5
by earthquake damage to its Lago Agrio to Balao pipeline,
    Once that pipeline is repaired, Ecuador will exceed its
OPEC quota in order to offset lost income and pay debts
contracted with Venezuela and Nigeria since the quake, Ecuador
mines and energy minister Javier Espinosa said.
    The two ministers were speaking at a news conference after
signing an agreement for joint oil exploration and exploitation
of the jungle border zone between the two nations. Drilling
will begin in September.
    "The agreement to transport Ecuadorean crude oil is not only
for this emergency period but for the next five years, with
possibility of an extension. Between 20,000 and 50,000 barrels
per day (bpd) will be pumped along it," Perry said.
    Espinosa said Ecuador planned to pump 35 mln barrels
through the link in the next five years, at a cost of 75 cents
per barrel during the first year.
    The 43-km link, with a maximum capacity of 50,000 bpd, will
run from Lago Agrio, the centre of of Ecuador's jungle
oilfields, to an existing Colombian pipeline that runs to the
Pacific port of Tumaco.
    Espinosa said the 32-km stretch of the link built on the
Ecuadorean side cost 10.5 mln dlrs. Perry gave no figures for
Colombia's 11 km segment but said it was "insignificant compared
with what we are going to earn."
    OPEC member Ecuador was pumping around 250,000 bpd before
the quake. Lost exports of 185,000 bpd are costing it 90 mln
dlrs per month, Espinosa said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="1696" NEWID="17055">
<DATE>23-APR-1987 23:57:39.18</DATE>
<TOPICS></TOPICS>
<PLACES><D>indonesia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 

&#5;&#5;&#5;RM
&#22;&#22;&#1;f0001&#31;reute
u f BC-SUHARTO-PARTY-SET-FOR   04-23 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>SUHARTO PARTY SET FOR EASY WIN IN INDONESIA POLLS</TITLE>
<DATELINE>    JAKARTA, April 24 - </DATELINE><BODY>President Suharto's ruling Golkar party
appears to have made substantial gains with over 75 pct of the
votes counted in Indonesia's national elections.
    Figures released by the election commission showed Golkar
on target to take 70 pct of the vote.
    Provisional figures indicate that with results of 68.9 mln
ballots announced, Golkar had won 50.29 mln, the Moslem-based
United Development Party 10.93 mln and the nationalist
Democratic Party 7.69 mln.
    The total electorate is 94 mln and officials said they
thought about 90 pct of the votes had been counted.
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21679" NEWID="17056">
<DATE>24-APR-1987 06:10:35.04</DATE>
<TOPICS></TOPICS>
<PLACES><D>denmark</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>zse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0368&#31;reute
r f BC-DENMARK'S-NOVO-INDUST   04-24 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>DENMARK'S NOVO INDUSTRI GETS SWISS SHARE LISTING</TITLE>
<DATELINE>    COPENHAGEN, April 24 - </DATELINE><BODY>Danish-based insulin and enzymes
producer Novo Industri A/S &lt;NVO.CO> said in a statement that
its "B" shares would be listed on stock exchanges in Zurich,
Basel and Geneva from May 4.
    The aim is to create broader European interest in Novo
stock, currently listed in Copenhagen, London and New York,
said the statement issued after yesterday's ordinary general
meeting.
    Novo said more than 50 pct of its B shares were owned by
U.S. Investors. The new listings, the first by a Danish company
on the Swiss exchanges, will not involve issuing of new share
capital.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21680" NEWID="17057">
<DATE>24-APR-1987 06:16:49.25</DATE>
<TOPICS><D>grain</D><D>corn</D></TOPICS>
<PLACES><D>taiwan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f0376&#31;reute
u f BC-TAIWAN-TO-TENDER-UP-T   04-24 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN TO TENDER UP TO 87,000 TONNES OF U.S. MAIZE</TITLE>
<DATELINE>    TAIPEI, April 24 - </DATELINE><BODY>The joint committee of Taiwan's maize
importers will tender on April 29 for two cargoes of U.S.
Maize, totalling between 54,000 and 87,000 tonnes for delivery
between May 21 and June 25, a committee spokesman told Reuters.
    Taiwan has set a calendar 1987 import target of 2.92 mln
tonnes compared with imports of 3.05 mln in 1986. About 80 pct
of the imports are expected to come from the U.S. And the rest
from South Africa, the spokesman said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21681" NEWID="17058">
<DATE>24-APR-1987 06:18:18.37</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE><D>languetin</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0379&#31;reute
u f BC-SWISS-COMMITTED-TO-JO   04-24 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>SWISS COMMITTED TO JOINT CURRENCY INTERVENTION</TITLE>
<DATELINE>    BERNE, April 24 - </DATELINE><BODY>The Swiss National Bank will continue to
take part in concerted intervention on currency markets as
necessary, president Pierre Languetin told the bank's annual
meeting.
    He said the dollar had on occasion hit highs or lows which
bore no relation to economic fundamentals and cooperation
between all monetary authorities was necessary to prevent it
breaching thresholds that would damage everyone.
    "We are resolved -- as we have done in the past -- to take
part in concerted intervention to the extent that this is
possible and desirable," Languetin said.
    Languetin said Switzerland had noted with satisfaction the
six nation Paris accord on currency stabilisation measures in
February, adding that it had anchored the principle of
strengthened international cooperation.
    He said measures such as recent concerted intervention were
useful in the short term.
    But he added, "The (Paris) Louvre accord can produce no
lasting effects without a correction of the fundamental
imbalances, without a reduction of the American budget deficit
and without stronger growth in Europe and Japan."
    Languetin said certain changes would probably be necessary
in the "too expansive" monetary policy of the United States,
adding that there was a prevailing view that U.S. Money supply
was expanding too strongly.
    "If this should last long the dollar could only be
stabilised at the cost of a substantial easing in monetary
policy on the part of the other central banks, which would in
turn create the basis for a new wave of world-wide inflation,"
he said. One positive factor was that monetary authorities in
the most important countries had not relinquished their
anti-inflation policies.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21682" NEWID="17059">
<DATE>24-APR-1987 06:34:22.72</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>japan</D><D>cuba</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0409&#31;reute
u f BC-JAPANESE-BUYERS-ACCEP   04-24 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPANESE BUYERS ACCEPT CUBA SUGAR DELAY - TRADERS</TITLE>
<DATELINE>    TOKYO, April 24 - </DATELINE><BODY>Several Japanese buyers have accepted
postponement of between 150,000 and 200,000 tonnes of Cuban raw
sugar scheduled for delivery in calendar 1987 until next year
following a request from Cuba, trade sources said.
    Cuba had sought delays for some 300,000 tonnes of
deliveries, they said. It made a similar request in January
when Japanese buyers agreed to postpone some 200,000 tonnes of
sugar deliveries for 1987 until 1988.
    Some buyers rejected the Cuban request because they have
already sold the sugar on to refiners, they added.
    Japanese buyers are believed to have contracts to buy some
950,000 tonnes of raw sugar from Cuba for 1987 shipment.
    But Japan's actual raw sugar imports from Cuba are likely
to total only some 400,000 to 450,000 tonnes this year, against
576,990 in 1986, reflecting both the postponements and sales
earlier this year by Japanese traders of an estimated 150,000
tonnes of Cuban sugar to the USSR for 1987 shipment, they said.
    They estimated Japan's total sugar imports this year at 1.8
mln tonnes, against 1.81 mln in 1986, of which Australia is
expected to supply 550,000, against 470,000, South Africa
350,000, against 331,866, and Thailand 400,000, after 390,776.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21683" NEWID="17060">
<DATE>24-APR-1987 06:48:14.73</DATE>
<TOPICS><D>tea</D></TOPICS>
<PLACES><D>india</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0423&#31;reute
r f BC-INDIA-AIMS-TO-EXPORT   04-24 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>INDIA AIMS TO EXPORT 280 MLN KILOS TEA BY 1990</TITLE>
<DATELINE>    NEW DELHI, April 24 - </DATELINE><BODY>India plans to export about 280 mln
kilos of tea a year by 1990, up from estimates of 202 mln in
1986 and 220 mln in 1985, Minister of State for Commerce Priya
Ranjan Dasmunsi told Parliament.
    Bad weather reduced domestic tea output in 1986 causing a
shortfall in exports. To boost exports the government recently
introduced higher cash compensatory support on packet tea,
excise tax rebate of 50 paise per kilo of bulk tea, full rebate
of excise duty on packet tea exports and exemption of customs
duty on filter paper used in making tea bags, he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21684" NEWID="17061">
<DATE>24-APR-1987 06:54:11.82</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0430&#31;reute
u f BC-UBS-CONFIRMS-FIRST-QU   04-24 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>UBS CONFIRMS FIRST QUARTER PROFITS LOWER</TITLE>
<DATELINE>    ZURICH, April 24 - </DATELINE><BODY>Union Bank of Switzerland &lt;SBGZ.Z> said
first quarter profits were higher than in the third and fourth
quarters of 1986, but were below the record results of the
first quarter of last year.
    Nevertheless, the bank said overall performance in the
first three months was satisfactory, with the situation
particularly promising in commission, foreign exchange,
securities and trading sectors.
    In a newspaper interview on April 10, chief executive
Nikolaus Senn said first quarter earnings had been below last
year's level.
    The bank said its assets grew by 1.2 billion francs in the
three month period to reach 153.3 billion at end-March. If it
had not been for the decline in the dollar, the rise would have
been as much as 4.3 billion francs, it said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21685" NEWID="17062">
<DATE>24-APR-1987 07:03:23.39</DATE>
<TOPICS><D>reserves</D></TOPICS>
<PLACES><D>norway</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0444&#31;reute
r f BC-NORWEGIAN-CENTRAL-BAN   04-24 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>NORWEGIAN CENTRAL BANK RESERVES RISE IN MARCH</TITLE>
<DATELINE>    OSLO, April 24 - </DATELINE><BODY>Norway's Central Bank reserves totalled
74.77 billion crowns in March, against 70.56 billion in
February and 98.55 billion in March 1986, the Central Bank said
in its monthly balance sheet.
    Foreign exchange reserves totalled 67.05 billion crowns,
compared with 67.21 billion in February and 92.08 billion
crowns a year ago. Gold reserves totalled 284.7 mln crowns,
unchanged from the previous month and last year's figure.
    Central Bank special drawing right holdings were 3.07
billion crowns, compared with 3.06 billion in February and 2.27
billion a year ago.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21686" NEWID="17063">
<DATE>24-APR-1987 07:14:16.83</DATE>
<TOPICS><D>interest</D><D>money-fx</D><D>money-supply</D></TOPICS>
<PLACES><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0463&#31;reute
u f BC-BANK-OF-SPAIN-RAISES   04-24 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF SPAIN RAISES INTEREST RATES</TITLE>
<DATELINE>    MADRID, April 24 - </DATELINE><BODY>The Bank of Spain announced a one-point
rise in overnight call money rates to 16-5/8 pct, which a
central bank spokesman said was part of government efforts to
control money supply growth.
    The increase came after yesterday's one-point rise and
pushed interbank rates to 19 19-1/2 pct from 18-1/8 19 pct.
    The M-4 money supply, liquid assets in public hands, the
broadest measure of money supply, rose 14.1 pct in the first
three months compared with this year's eight pct target. Money
supply growth was 11.4 pct last year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21687" NEWID="17064">
<DATE>24-APR-1987 07:21:43.09</DATE>
<TOPICS><D>money-fx</D><D>dlr</D><D>yen</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0469&#31;reute
b f BC-BUNDESBANK-BOUGHT-DOL   04-24 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>BUNDESBANK BOUGHT DOLLARS FOR YEN IN OPEN MARKET</TITLE>
<DATELINE>    FRANKFURT, April 24 - </DATELINE><BODY>The Bundesbank intervened in the open
market to buy dollars for yen ahead of the Frankfurt fixing,
dealers said.
    They said the Bundesbank bought dollars for around 139.80
yen in small amounts in the half-hour running up to the 1100
GMT fix.
    The Bundesbank did not intervene when the dollar was fixed
in Frankfurt at 1.7969 marks.
    Earlier the Bank of Japan bought dollars steadily in the
Far East, but could not stop heavy selling which pushed the
dollar to a post-war low of 139.05 yen at one point.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21688" NEWID="17065">
<DATE>24-APR-1987 07:22:09.79</DATE>
<TOPICS><D>money-fx</D><D>dlr</D><D>yen</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0471&#31;reute
b f BC-NO-SWISS-NATIONAL-BAN   04-24 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>NO SWISS NATIONAL BANK INTERVENTION SEEN</TITLE>
<DATELINE>    ZURICH, April 24 - </DATELINE><BODY>A Swiss National Bank spokesman said the
bank had not intervened in currency markets today and dealers
said they had seen no evidence of Bundesbank action outside
West Germany.
    Frankfurt dealers reported that the Bundesbank bought
dollars for yen in the open market there.
    Zurich dealers said the absence of the Swiss National Bank
suggested that no concerted intervention was under way.
    Asked earlier today if the Swiss National Bank had
intervened, the spokesman said "not yet."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21689" NEWID="17066">
<DATE>24-APR-1987 07:23:50.50</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0474&#31;reute
u f BC-BANK-OF-JAPAN-INTERVE   04-24 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF JAPAN INTERVENES IN TOKYO MARKET</TITLE>
<DATELINE>    TOKYO, April 24 - </DATELINE><BODY>The Bank of Japan intervened just after
the Tokyo market opened to support the dollar from falling
below 140.00 yen, dealers said.
    The central bank bought a moderate amount of dollars to
prevent its decline amid bearish sentiment for the U.S.
Currency, they said.
    The dollar opened at a record Tokyo low of 140.00 yen
against 140.70/80 in New York and 141.15 at the close here
yesterday. The previous Tokyo low was 140.55 yen set on April
15.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21690" NEWID="17067">
<DATE>24-APR-1987 07:26:38.57</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0488&#31;reute
u f BC-FRENCH-BEET-PLANTERS   04-24 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH BEET PLANTERS SEE FAVOURABLE SOWINGS START</TITLE>
<DATELINE>    PARIS, April 24 - </DATELINE><BODY>French sugar beet plantings are off to a
good start, thanks to generally favourable winter and spring
weather, the CGB beet planters' association said.
    It said in a report that soil structure was likely to be
excellent for good preparation as a result of a cold,
reasonably showery, winter.
    By April 15, 27.8 pct of the area had been sown against
three pct at the same year ago date.
    It added the area sown was likely to be reduced this year
by 1.2 pct to 445,000 hectares.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21691" NEWID="17068">
<DATE>24-APR-1987 07:28:06.22</DATE>
<TOPICS><D>trade</D><D>money-fx</D><D>yen</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0493&#31;reute
r f BC-JAPAN-AGENCY-URGES-WA   04-24 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN AGENCY URGES WATCH ON YEN RISE EFFECTS</TITLE>
<DATELINE>    TOKYO, April 24 - </DATELINE><BODY>Japan should look out for possible
effects of the yen's recent sharp rise on Japan's economy as
growth remains slow, the government's Economic Planning Agency
said in a monthly report submitted to cabinet ministers.
    EPA officials told reporters the underlying trend of the
economy is firm but growth is slow due to sluggish exports.
    Customs-cleared exports by volume fell 4.9 pct
month-on-month in February after a 2.8 pct fall in March.
    The government must take adequate economic measures to
expand domestic demand and stabilise exchange rates in a bid to
ensure sustained econonic growth, the report said.
    The report made a special reference to the yen's renewed
rise and its effect on the economy, the officials said, adding
the agency's judgement of current economic conditions has not
changed since last month.
    The EPA said last month Japan's economy is beginning to
show signs of bottoming out, conditional upon exchange rates.
    The dollar fell below 139 yen in early trading today - a
post-war low.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21692" NEWID="17069">
<DATE>24-APR-1987 07:54:16.72</DATE>
<TOPICS><D>money-fx</D><D>yen</D></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0538&#31;reute
b f BC-DEALERS-SEE-MODERATE   04-24 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>DEALERS SEE MODERATE DUTCH CENTRAL BANK YEN SALES</TITLE>
<DATELINE>    AMSTERDAM, April 24 - </DATELINE><BODY>The Dutch central bank has intervened
in the currency markets today, in apparent concerted action
with other central banks, foreign exchange dealers said.
    They detected selling of the yen for dollars, which some
estimated would run to a moderate 200 mln guilders, comparable
to token Dutch intervention reported last week.
    Other dealers, however, said they believed today's moderate
intervention had been in guilders against dollar.
    The dealers agreed the intervention was minimal and more a
political gesture than a market moving force.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21693" NEWID="17070">
<DATE>24-APR-1987 08:05:55.09</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>nakasone</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0558&#31;reute
u f BC-NAKASONE-EXPECTED-TO   04-24 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>NAKASONE EXPECTED TO SURVIVE SALES TAX DEFEAT</TITLE>
<AUTHOR>    By Janet Snyder, Reuters</AUTHOR>
<DATELINE>    TOKYO, April 24 - </DATELINE><BODY>Prime Minister Yasuhiro Nakasone's
unpopular sales tax plan has been defeated and although fellow
politicians and political analysts agree he has suffered a
grave loss of face only a few are willing to write him off.
    Michio Watanabe, a Nakasone faction member and deputy
secretary general of the ruling Liberal Democratic Party, LDP,
is one of those who believes he will survive.
    "He's tough, he won't step down," but "will hang on to the
death" at least until his term ends on October 30, Watanabe told
Reuters.
    The sales tax scheme was a mainstay in Nakasone's plans to
revamp the nation's tax system for the first time in 36 years.
Watanabe acknowledged that the five pct sales tax was a
mistake.
    "It was too greedy," he said. A two or three pct tariff might
have been easier to swallow, he said.
    One popular school of thought among skeptical analysts is
that Nakasone will be remain in office at least until the June
8-10 summit of industrialised nations in Venice.
    A Western diplomatic observer said he believed that
Nakasone would be at the summit as prime minister. But he would
not bet on his chances of survival up until October.
    Masamichi Inoki, a senior fellow at the conservative
Institute of Peace and Security, said he did not think Nakasone
had suffered irreparable damage.
    "He will certainly hang on for the summit," Inoki said.
    In any event, the general belief now is that the five pct
sales tax, as championed by Nakasone, is a dead issue but that
an indirect tax, in another form, will be introduced by the
LDP.
    Inoki said he believed the issue would be resurrected as
early as the next Diet (parliament) meets. The current session
finishes on May 27.
    The newspaper Tokyo Shimbun expressed another stream of
opinion, stating that Nakasone might well get another year to
deal with the unfinished and unpopular business of tax reform.
    The government has to find a way of generating revenue to
support an expected glut of elderly Japanese.
    And the only means of drumming up the money is to levy an
indirect tax, said Watanabe, a former Minister of International
Trade and Industry.
    The next prime minister will have to grapple with an
indirect tax, and "whoever is the next prime minister won't be
in the job very long," Watanabe said.
    Watanabe said he doubted the next prime minister would be
any of the three so-called "New Leaders," LDP secretary general
Noboru Takeshita, LDP executive council chairman Shintaro Abe,
and Finance Minister Kiichi Miyazawa. Each of them controls a
powerful LDP faction. "It will be somebody else," he said.
    Political science professor Rei Shiratori of Dokkyo
University gave one of the darkest readings on Nakasone's
political future.
    "Soon after the Venice summit, there will be a move to
change the government by the New Leaders," Shiratori said.
    "He can't fight on," he said.
    He said Nakasone had a special emotional attachment to the
sales tax plan as the last and most important item in Japan's
purge of policies inherited from the U.S. Occupation.
    Shiratori said an indirect tax will have to be levied, but
"to introduce such a tax, they'll have to change the prime
minister."
    Nevertheless, Shiratori said he believes Nakasone could
hang on until as late as September.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21694" NEWID="17071">
<DATE>24-APR-1987 08:22:48.54</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0610&#31;reute
r f BC-JAPAN-DOES-NOT-INTEND   04-24 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN DOES NOT INTEND TO EASE CREDIT - OFFICIALS</TITLE>
<DATELINE>    TOKYO, April 24 - </DATELINE><BODY>The Bank of Japan does not intend to ease
credit policy further, bank officials told Reuters.
    They were responding to rumours in the Japanese bond market
that the central bank was planning to cut its 2.5 pct discount
rate soon, possibly before Prime Minister Yasuhiro Nakasone
leaves for Washington on April 29.
    Bank of Japan governor Satoshi Sumita will be in Osaka,
western Japan on April 27 and 28 for the annual meeting of the
Asian Development Bank, making a rate cut announcement early
next week a virtual impossibility, they said. April 29 is a
holiday here.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21695" NEWID="17072">
<DATE>24-APR-1987 08:23:17.24</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>miyazawa</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0612&#31;reute
u f BC-JAPAN-HAS-NO-PLANS-FO   04-24 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN HAS NO PLANS FOR NEW MEASURES TO AID DLR</TITLE>
<DATELINE>    TOKYO, April 24 - </DATELINE><BODY>Finance Minister Kiichi Miyazawa said
Japan has no plans to take new emergency measures to support
the dollar, other than foreign exchange intervention.
    He also told reporters that many major nations yesterday
intervened heavily to support the dollar against the yen.
    Yesterday's intervention was large in terms of the
countries involved and the amounts expended, he said.
    With the continued fall of the dollar against the yen,
speculation had arisen in currency markets here that Japan
might take new measures to support the U.S. Currency, such as
curbing capital outflows.
    Miyazawa said that yesterday's news of a 4.3 pct rise in
U.S. Gnp in the first quarter had been expected. Although the
growth looks robust on the surface, the figures in reality are
not that good, he said.
    He said the ruling Liberal Democratic Party (LDP) is
expected to come up with a final set of recommendations of ways
to stimulate the Japanese economy before Prime Minister
Yasuhiro Nakasone leaves for Washington next week.
    Commenting on yesterday's report on economic restructuring
by a high-level advisory panel to Nakasone, Miyazawa said it
was important to put the panel's recommendations into effect.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21696" NEWID="17073">
<DATE>24-APR-1987 08:28:22.67</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T M
&#22;&#22;&#1;f0623&#31;reute
d f BC-JAPAN-DOCKWORKERS-STR   04-24 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN DOCK STRIKE TO CONTINUE OVER WEEKEND</TITLE>
<DATELINE>    TOKYO, April 24 - </DATELINE><BODY>A strike by Japanese dockworkers will
continue over the weekend as no breakthrough is in sight, a
Japan Harbour Transportation Association spokesman said.
    The association has not yet agreed on a schedule for
preliminary negotiations with the National Council of Harbour
Workers Unions, because the council insisted on talks with
shippers as well as dock management, he said.
    The strike, which began on Tuesday, halted container
movements to points inside Japan from the ports of Tokyo,
Yokohama, Nagoya, Osaka, Kobe, Kitakyushu, Shimizu, Yokkaichi
and Hakata.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21697" NEWID="17074">
<DATE>24-APR-1987 08:36:19.96</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>taiwan</D><D>usa</D><D>hong-kong</D><D>south-korea</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0657&#31;reute
r f BC-TAIWAN-WINS-REVISED-T   04-24 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN WINS REVISED TEXTILE ACCORD FROM U.S.</TITLE>
<DATELINE>    TAIPEI, April 24 - </DATELINE><BODY>Taiwan and the U.S. Have revised and
extended their textile export agreement after negotiations in
Washington this week, a spokesman for the Taiwan Textile
Federation said.
    Charles Chen told Reuters the original three year accord
has been extended by one year to the end of 1989. The U.S. Has
agreed to raise the limit on annual growth of Taiwan's textile
and apparel exports to one pct from 0.5 pct for calendar 1989,
he said. "The new accord is more fair and gives breathing space
to our textile makers (so they can) diversify their exports to
other nations," he added.
    Chen said the revised agreement puts Taiwan on similar
textile exporting terms to Hong Kong and South Korea. But
despite the changes, Taiwanese firms have lost orders to rivals
in Hong Kong and South Korea because of the strong Taiwan
dollar, he said. The Taiwan currency has risen 17 pct against
the U.S. Dollar since September 1985 while the Korean won rose
by some six pct and the Hong Kong dollar was stable.
    Taiwan's textile exports to the U.S. Amounted to 2.8
billion U.S. Dlrs last year out of total exports to the U.S. Of
7.8 billion. Textile exports are expected to remain the same
this year, Chen said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21698" NEWID="17075">
<DATE>24-APR-1987 08:37:06.39</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE><D>nakasone</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0659&#31;reute
h f BC-JAPAN-RULING-PARTY-PR   04-24 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN RULING PARTY PREPARES FINAL ECONOMIC PACKAGE</TITLE>
<DATELINE>    TOKYO, April 24 - </DATELINE><BODY>Japan's ruling Liberal Democratic Party
(LDP) drew up a final plan to expand domestic demand and boost
imports in time for Prime Minister Yasuhiro Nakasone's visit to
Washington next week, LDP officials said.
    The plan calls for additional fiscal measures worth more
than 5,000 billion yen, a large-scale supplementary budget for
the current fiscal year started April 1, and concentration of
more than 80 pct of the annual public works budget in the first
half of the year, they said.
    Nakasone will explain the measures to U.S. Officials during
his visit to Washington starting April 29.

    The LDP plan will be the basis for a government package of
pump-priming measures expected to be unveiled in late May.
    The LDP said Japan should do more to reduce its trade
surplus. Its plan is expected to help increase economic growth
led by domestic demand, officials said.
    The government was also urged to review the ceiling on
budgetary requests for investment purposes in 1988/89. The
government has imposed a five pct cut in investment outlays in
the past five years in line with Nakasone's avowed policy of
fiscal reforms.

    The plan called on Japan to promote government purchases of
foreign goods and private sector imports of manufactured goods
by improving import financing, and to make clear official
procurement procedures for foreign supercomputers.
    The LDP also said Japan should contribute further to
society at large through measures such as doubling its official
development assistance to 7.6 billion dlrs in five years or so
instead of seven years as the government had originally
promised.
    The government was urged to work out a program to recycle
funds from Japan's trade surpluses to debt-ridden countries.

    The officials said the funds to be recycled would include
those from the private sector and others provided through the
government Export-Import Bank of Japan and Japan's Overseas
Economic Cooperation Fund.
    The plan also calls for the government to take steps to
help the development of African and other less developed
nations.
    The LDP called for adequate and flexible management of
monetary policy, such as a cut in interest rates on deposits
with the Finance Ministry's Trust Fund, and a tax cut to
promote plant and equipment investment.

 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21699" NEWID="17076">
<DATE>24-APR-1987 08:39:45.06</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0670&#31;reute
r f BC-FRIEDMAN-INDUSTRIES-&lt;   04-24 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>FRIEDMAN INDUSTRIES &lt;FRD> MERGER NOT APPROVED</TITLE>
<DATELINE>    HOUSTON, April 23 - </DATELINE><BODY>Friedman Industries Inc said
shareholders at a special meeting held for a vote on its
proposed merger into companies controlled by Venezuelan
businessman John Castellvi failed to provide a high enough
affirmative vote for approval.
    It said about 75 pct of the shares entitled to vote at the
meeting were voted in favor, but an 80 pct vote was needed.
    The company said a significant number of shares held in
street name were not voted.  As a result, it said it adjourned
the meeting until April 28 and, if the merger is approved,
closing is expected late next week.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21700" NEWID="17077">
<DATE>24-APR-1987 08:44:46.92</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0696&#31;reute
r f BC-BANKERS-CONFIRM-JAPAN   04-24 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>BANKERS CONFIRM JAPAN LONG-TERM PRIME UNCHANGED</TITLE>
<DATELINE>    TOKYO, April 24 - </DATELINE><BODY>Long-term bank sources confirmed their
banks have decided to leave the current 5.2 pct long-term prime
rate unchanged.
    The current rate has been in effect since March 28.
    The bankers said the rate was unchanged because the falling
dollar and the bond market rally made it difficult to clarify
the current level of yen interest rates.
    There had earlier this week been expectations of a 0.2
point cut from today in response to the fall in the secondary
market yield in five-year long-term bank debentures, but
bankers said last night the rate would be unchanged.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21701" NEWID="17078">
<DATE>24-APR-1987 08:45:02.17</DATE>
<TOPICS><D>money-fx</D><D>yen</D></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0697&#31;reute
u f BC-DEALERS-SEE-MODERATE   04-24 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>DEALERS SEE MODERATE DUTCH CENTRAL BANK YEN SALES</TITLE>
<DATELINE>    AMSTERDAM, April 24 - </DATELINE><BODY>The Dutch central bank has intervened
in the currency markets today, in apparent concerted action
with other central banks, foreign exchange dealers said.
    They detected selling of the yen for dollars, which some
estimated would run to a moderate 200 mln guilders, comparable
to token Dutch intervention reported last week.
    Other dealers, however, said they believed today's moderate
intervention had been in guilders against dollar.
    The dealers agreed the intervention was minimal and more a
political gesture than a market moving force.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21702" NEWID="17079">
<DATE>24-APR-1987 08:47:39.31</DATE>
<TOPICS><D>crude</D><D>nat-gas</D><D>pet-chem</D><D>acq</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F Y
&#22;&#22;&#1;f0708&#31;reute
r f BC-shell-canada-&lt;shc.to>   04-24 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>SHELL CANADA &lt;SHC.TO> SEES BETTER YEAR</TITLE>
<DATELINE>    CALGARY, Alberta, April 24 - </DATELINE><BODY>Shell Canada Ltd said
performance in all business segments in the first quarter
showed improvement over last year and it expects "significantly
enhanced performance" in 1987.
    Shell Canada reported first quarter earnings of 103 mln
dlrs, or 90 cts per share, up from 40 mln dlrs, or 32 cts per
share.
    Oil products earnings were 38 mln dlrs, up 19 mln dlrs from
last year, when margins were impaired by lower oil prices.
    Shell Canada said chemical earnings were 17 mln dlrs in the
quarter, compared with a loss of five mln dlrs in 1986. The
styrene business saw significant improvement, stemming from an
increase in international demand.
    Resources earnings increased by six mln dlrs to 46 mln
dlrs. Lower prices for all commodities were offset by the
removal of the Petroleum and Gas Revenue Tax, the impact of
lower royalty rates and higher volumes.
    Gross production of crude oil and natural gas liquids
increased seven pct from the first quarter of last year to
11,200 cubic meters a day, Shell said.
    Shell Canada also said natural gas sales volumes of 19.6
mln cubic meters a day was up five pct from last year.
    Sulphur sales of 4,143 tonnes a day were up 70 pct.
    The company also recorded benefits of 10 mln dlrs from the
acquisition of Shell Explorer Ltd. Interest expense for the
quarter was lower than in the previous year, due to the early
retirement of a 200 mln U.S. dlr debenture and the impact of a
stronger Canadian dollar on U.S. dollar-denominated debt.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21703" NEWID="17080">
<DATE>24-APR-1987 08:48:51.41</DATE>
<TOPICS><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f0714&#31;reute
r f BC-VALERO-PARTNERS-&lt;VLP>   04-24 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>VALERO PARTNERS &lt;VLP> WINS TAKE OR PAY CASE</TITLE>
<DATELINE>    SAN ANTONIO, Texas, April 24 - </DATELINE><BODY>Valero Natural Gas Partners
LP, 49 pct owned by Valero Energy Corp &lt;VLO>, said a jury in
Sutton County, Texas, district court has found that it had no
liability for 21 mln dlrs in take-or-pay claims that had been
alleged by Lively Exploration Co.
    Take-or-pay claims involve allegations that natural gas
supply contracts require volume of natural gas to be paid for
even if not taken. As a result of declining markets, most
pipelines, like Valero, do not have customers for all the gas
that could be delivered by producers, such as Lively.
    Valero said it used as its primary defense the Texas
Railroad Commission's rules that require intrastate pipelines
to take ratably from their producers and in times of surplus
take gas in accordance with priority categories set by the
commission.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21704" NEWID="17081">
<DATE>24-APR-1987 08:52:42.34</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0734&#31;reute
r f BC-SERVICE-RESOURCES-&lt;SR   04-24 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>SERVICE RESOURCES &lt;SRC> OFFERS SORG &lt;SRG> STAKE</TITLE>
<DATELINE>    NEW YORK, April 24 - </DATELINE><BODY>Service Resources Corp said its Chas.
P. Young Co subsidiary, which has offered to acquire Sorg Inc
in a friendly merger at 22 dlrs per share, is willing to
explore the possibility that members of the Sorg family and
other Sorg shareholders could continue to hold an equity
position in the combined company.
    The company also said it has received a commitment for up
to 66 mln dlrs in financing from Security Pacific Corp &lt;SPC>
for the merger, the repayment of Sorg's bank debt and working
capital of the combined company.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21705" NEWID="17082">
<DATE>24-APR-1987 09:00:36.72</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f0750&#31;reute
r f BC-hudsons   04-24 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>HUDSON'S BAY &lt;HBC.TO> SELLS ROXY &lt;CNR.TO> STAKE</TITLE>
<DATELINE>    TORONTO, April 24 - </DATELINE><BODY>Hudson's Bay Co said it agreed to sell
its entire 54.5 pct interest in Canadian Roxy Petroleum Ltd, a
total of about 7.5 mln shares, to Westcoast Transmission Co Ltd
&lt;WTC> for 11 dlrs a share.
    Hudson's Bay said proceeds of about 82 mln dlrs will be
used to reduce corporate debt. It said the sale was part of a
program of concentrating on its core business of department
stores and real estate.
    The sale is subject to regulatory approvals.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21706" NEWID="17083">
<DATE>24-APR-1987 09:05:21.63</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE><D>nakasone</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f0766&#31;reute
r f AM-TRADE-ABE   04-24 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S., JAPAN TRADE TIES REMAIN HOSTILE</TITLE>
<AUTHOR>    By Robert Trautman, Reuters</AUTHOR>
<DATELINE>    WASHINGTON, April 24 - </DATELINE><BODY>The visit this week by a special
Japanese envoy has done little to defuse Japan's trade
frictions with the United States, U.S. and congressional
leaders say.
    White House and congressional leaders took a wait-and-see
stance, after a series of meetings with former Japanese Foreign
Minister Shintaro Abe, who was here paving the way for the
April 29-May 2 visit of Prime Minister Yasuhiro Nakasone.

    They are withholding judgment until Nakasone's visit, with
one senator saying Japan had promised to stimulate its economy
and open its markets to foreign goods in the past, but it was
time now for action.
    The U.S. trade deficit last year was a record 169.8 billion
dlrs, with more than one-third of it in trade with Japan.
    Congress is ready to approve tough trade legislation to try
to turn around the deficit, which has cost millions of U.S.
jobs and closed thousands of factories.
    Much of the anger has been directed at Japan.
    U.S.-Japan trade friction was further fueled by President
Reagan's April 17 decision to impose 100 pct tariffs on 300 mln
dlrs worth of Japanese goods in retaliation for unfair
practices in semiconductor trade.
    Reagan said he imposed the tariffs on personal computers,
television sets and hand tools because Japan failed to keep an
agreement to end dumping semiconductors in world markets at
less than cost and to open its home market to U.S. products.
 
    Abe had asked Reagan to end the tariffs quickly, but U.S.
officials said the curbs would not be dropped until Japan had
shown it was honoring the pact, which could take several
months.
    White House spokesman Marlin Fitzwater, asked if Nakasone's
visit might help to defuse trade tensions, said "whether
progress can be made depends on how you want to measure it."
    He added, "I would expect progress to be made. If you want
to measure that in terms of lifting the sanctions, that's more
doubtful."
    Congressmen were equally skeptical.
    Abe met Senate and Democratic leaders active in trade
legislation, telling them of Japan's plan to spur domestic
spending by 34 billion dlrs and open its markets to a wide
range of goods, including supercomputers and farm products.
    Sen. John Danforth, a Missouri Republican, said after the
meeting, "We have heard promises in the past, but the question
now is whether there will be real action."
    Abe also met House leaders pressing for a tough trade bill,
including Congressman Richard Gephardt, a Missouri Democrat.
    Gephardt is sponsoring legislation to penalize nations with
large deficits and which are guilty of unfair trade practices.
    Gephardt's legislation would hit Japan, as well as Taiwan,
South Korea, and West Germany. The bill is expected to pass the
House next week - coinciding with Nakasone's visit - but its
fate in the more moderate Senate is uncertain. A bipartisan
group of senators, however, told Nakasone in a letter released
as Abe was holding Senate meetings, that fresh Japanese-U.S.
trade strife would erupt if Japan's markets were not soon
opened to American goods.
    The signers included Democratic leader Robert Byrd of West
Virginia, Republican leader Robert Dole of Kansas and others
ranging from moderate to hardline on trade issues.
    They said in the letter there was growing U.S. sentiment
that Japan was fighting opening its markets and "evidence to the
contrary is necessary to combat this perception, or it is
likley that additional efforts will be attempted to close off
the American market to Japanese goods.
  
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21707" NEWID="17084">
<DATE>24-APR-1987 09:11:48.08</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>china</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f0791&#31;reute
d f BC-CHINA-TEXTILE-EXPORTS   04-24 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA TEXTILE EXPORTS RECORD HIGH IN 1ST QUARTER</TITLE>
<DATELINE>    PEKING, April 24 - </DATELINE><BODY>China's textile exports in the first
quarter reached a record 2.2 billion dlrs, an increase of 49
pct on the year-earlier period, the People's Daily said.
    Its overseas edition gave no country breakdown. The U.S. Is
one of China's largest markets for textiles.
    U.S. Commerce Secretary Malcolm Baldrige told a press
conference that Chinese textile and apparel exports to the U.S.
In 1986 rose 65 pct in value from the 1985 level, a rate of
growth that "is not sustainable nor equitable to our other major
foreign suppliers." China is now the United States' largest
textile supplier, he said.
    Baldrige declined to say what would be an acceptable growth
rate for Chinese textile exports. Negotiations on the next
China-U.S. Textile agreement are due to begin in May, he said.
    "There clearly has to be a limit," he said. "Our economy can
only absorb so much textiles. It is in both of our interests to
reach a satisfactory conclusion. Without an agreement, we would
have a chaotic situation."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21708" NEWID="17085">
<DATE>24-APR-1987 09:16:58.52</DATE>
<TOPICS><D>gnp</D><D>trade</D><D>cpi</D><D>jobs</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0811&#31;reute
r f BC-SWISS-GROWTH-SEEN-SLO   04-24 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>SWISS GROWTH SEEN SLOWING THIS YEAR AND NEXT</TITLE>
<DATELINE>    BASLE, Switzerland, April 24 - </DATELINE><BODY>The growth of the Swiss
economy will likely slow to 2.2 pct this year and 1.9 pct in
1988 after reaching 2.8 pct last year, according to a study by
a group at Basle University's Institute of Applied Economics.
    It blamed the expected slowdown partly on a disappointing
outlook for exports caused by the weaker dollar. Exports would
likely grow by 2.8 pct this year and by 3.0 pct in 1988, after
3.0 pct in 1986, the group predicted.
    Final domestic demand will also fall back, to a likely 3.0
pct this year and 2.3 pct next, after 4.1 pct in 1986. However,
the domestic picture will likely be mixed.
    The study said investment in plant and equipment would
continue to be the main motor for the growth in domestic
demand, although it was unlikely to grow as fast as last year's
7.4 pct, rising this year by 4.5 pct and by 2.8 pct in 1988.
    While the growth in private consumption is expected to fall
back to 2.5 pct this year and 2.1 pct in 1988 from last year's
3.1 pct, public consumption spending will likely grow by 1.9
pct in 1987 and 2.0 pct next year, after 1.5 pct in 1986.
    Consumer prices were seen rising by 1.7 pct this year and
2.4 pct in 1988, after just 0.8 pct in 1986. Unemployment
should fall back to 0.7 pct from last year's 0.8 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21709" NEWID="17086">
<DATE>24-APR-1987 09:18:30.33</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0818&#31;reute
b f BC-/CHRYSLER-&lt;C>-SETS-NE   04-24 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>CHRYSLER &lt;C> SETS NEW AMC &lt;AMO> TARGET DATE</TITLE>
<DATELINE>    DETROIT, April 24 - </DATELINE><BODY>Chrysler Corp said it and Regie
Nationale des Usines Renault &lt;RENA.PA> agreed to set May 5 as
the new target date when Chrysler aimed at reaching a
definitive agreement for Chrysler for acquire American Motors
Corp.
    AMC is 46.1 pct owned by Renault.
    The two companies originally had targeted April 23 as
completion date for reaching a definitive agreement.
    Chrysler, which signed a letter of intent on March 9 to
acquire AMC, said "considerable progress has been made, but a
number of issues remain to be resolved."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21710" NEWID="17087">
<DATE>24-APR-1987 09:18:44.31</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>adb-africa</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f0820&#31;reute
u f BC-MOODY'S-RATES-ADB'S-S   04-24 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>MOODY'S RATES ADB'S SENIOR SAMURAI BONDS AAA</TITLE>
<DATELINE>    NEW YORK, April 24 - </DATELINE><BODY>Moody's Investors Service Inc said it
assigned a top-flight Aaa rating to African Development Bank's
15 billion yen senior Samurai bond due 2002 issued in Tokyo.
    The rating reflects the support provided by the callable
capital of non-borrowing member countries, which include the
U.S., Japan, Canada, West Germany and several other European
nations.
    Moody's said that African Development Bank's sound lending,
borrowing and liquidity policies also support the top rating
grade.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21711" NEWID="17088">
<DATE>24-APR-1987 09:29:16.99</DATE>
<TOPICS><D>money-fx</D><D>dlr</D><D>yen</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0848&#31;reute
b f BC-SWISS-SAY-THEY-INTERV   04-24 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>SWISS SAY THEY INTERVENED WITH BUNDESBANK AND FED</TITLE>
<DATELINE>    ZURICH, April 24 - </DATELINE><BODY>The Swiss National Bank bought dollars
and sold yen in concerted action along with the Bundesbank and
the U.S. Federal Reserve Board, a bank spokesman told Reuters.
    "We intervened in dollar-yen with the Bundesbank and the
Fed," he said. He declined to specify the extent of the
intervention, which took place at around 1200 GMT, after
reports by Frankfurt dealers the Bundesbank was in the market.
    The intervention failed to prevent the dollar dipping to
1.4548 Swiss francs at around 1320 GMT, close to its all-time
low of 1.4510 francs set on September 26, 1978. It then
steadied to 1.4560/75 francs.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21712" NEWID="17089">
<DATE>24-APR-1987 09:34:21.09</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0874&#31;reute
b f BC-U.K.-MONEY-MARKET-GIV   04-24 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. MONEY MARKET GIVEN FURTHER 518 MLN STG HELP</TITLE>
<DATELINE>    LONDON, April 24 - </DATELINE><BODY>The Bank of England said it provided the
money market with further assistance worth 518 mln stg this
afternoon.
    It bought 349 mln stg of band one bank bills at 9-7/8 pct
and 169 mln stg of band two bank bills at 9-13/16 pct.
    This brings its total assistance on the day to 543 mln stg
compared with a liquidity shortage it has estimated at around
850 mln stg.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21713" NEWID="17090">
<DATE>24-APR-1987 09:43:24.20</DATE>
<TOPICS><D>hog</D><D>livestock</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C L
&#22;&#22;&#1;f0892&#31;reute
u f BC-slaughter-guesstimate   04-24 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>HOG AND CATTLE SLAUGHTER GUESSTIMATES</TITLE>
<DATELINE>    CHICAGO, April 24 - </DATELINE><BODY>Chicago Mercantile Exchange floor
traders and commission house representatives are guesstimating
today's hog slaughter at about 280,000 to 287,000 head versus
257,000 week ago and 311,000 a year ago.
    Saturday's hog slaughter is guesstimated at about 40,000 to
55,000 head.
    Cattle slaughter is guesstimated at about 121,000 to
126,000 head versus 128,000 week ago and 136,000 a year ago.
    Saturday's cattle slaughter is guesstimated at about 19,000
to 35,000 head.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21714" NEWID="17091">
<DATE>24-APR-1987 10:02:29.91</DATE>
<TOPICS><D>income</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0974&#31;reute
r f BC-/U.S.-PERSONAL-INCOME   04-24 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. PERSONAL INCOME ROSE 0.2 PCT IN MARCH</TITLE>
<DATELINE>    WASHINGTON, April 24 - </DATELINE><BODY>U.S. personal income rose 0.2 pct,
or 5.4 billion dlrs, in March to a seasonally adjusted annual
rate of 3,603.9 billion dlrs, the Commerce Department said.
    The increase followed an upwardly revised 1.3 pct rise in
February. Earlier, the department said income rose 0.9 pct in
February.
    Personal consumption expenditures rose 0.3 pct, or 8.9
billion dlrs, to 2,882.6 billion dlrs in March after rising a
revised 2.4 pct in February instead of the previously reported
1.7 pct rise, the department said.
    Last month's income gain matched a 0.2 pct rise in November
and was the lowest since June when income was unchanged. The
spending rise was the weakest since January's 2.0 pct decline.
    The department said the slowdown in income was mainly due
to a drop in subsidies to farmers. Excluding that factor,
personal income rose 0.4 pct in March and 0.7 pct in February.
    Wages and salaries rose 7.4 billion dlrs last month after
gaining 16.6 billion dlrs in February, while manufacturing
payrolls declined 1.3 billion dlrs after rising 2.5 billion
dlrs in February.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21715" NEWID="17092">
<DATE>24-APR-1987 10:10:11.37</DATE>
<TOPICS><D>grain</D><D>corn</D><D>sorghum</D></TOPICS>
<PLACES><D>belgium</D><D>argentina</D><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1005&#31;reute
u f BC-EC-TO-OFFER-ARGENTINA   04-24 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>EC TO OFFER ARGENTINA GRAIN SALE COMPENSATION</TITLE>
<DATELINE>    BRUSSELS, April 24 - </DATELINE><BODY>The European Community is to offer
Argentina compensation for its loss of maize and sorghum
exports to Spain following Spain's accession to the EC, EC
sources said.
    They said the offer will be made next week in Geneva,
headquarters of the General Agreement on Tariffs and Trade
(GATT), and will also involve products other than cereals. They
gave no further details.
    Argentine exports of sorghum to Spain fell to zero last
year from 300,000 tonnes in 1985, while maize sales fell to
15,000 tonnes from 994,000, official EC statistics show.
    The sources noted that an agreement between the EC and the
U.S. guarantees special access to the Spanish market for two
mln tonnes of non-EC maize and 300,000 tonnes of sorghum each
year for the next four years.
    But they said various details of this accord will tend to
inhibit imports from Argentina.
    These include a provision for reduction of the amounts if
Spain imports cereals substitutes, and the EC's plan to import
the special maize and sorghum on a regular monthly basis.
Argentina tends to have exportable quantities only three or
four times a year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21716" NEWID="17093">
<DATE>24-APR-1987 10:11:40.65</DATE>
<TOPICS><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f1014&#31;reute
r f BC-CONSOLIDATED-GAS-&lt;CNG   04-24 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>CONSOLIDATED GAS &lt;CNG>HIGH BIDDER ON GULF TRACTS</TITLE>
<DATELINE>    PITTSBURGH, April 24 - </DATELINE><BODY>Consolidated Natural Gas Co said its
CNG Producing Co subsidiary, bidding alone or with partners,
was the apparent high bidder on six of seven tracts it south at
Wednesday's sale of federal oil and gas leases in the Gulf of
Mexico.
    The company said it share of the six bids totaled 6.2 mln
dlrs. Its 100 pct interest bids were on three offshore tracts
-- West Cameron 209, 302 and 303. Consolidated has a 50 pct
interest in the bid for Eugene Island 375 and Ship Shoal 128
and 129.
   
    The remaining interest in 139 is held by Sun Energy
Partners &lt;SLP>, which is 96.3 pct owned by Sun Co Inc &lt;SUN>.
&lt;Union Texas Petroleum Corp>, which is 49.7 pct owned by
Allied-Signal Inc &lt;ALD>, is Consolidated's partner on the other
two tracts.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21717" NEWID="17094">
<DATE>24-APR-1987 10:12:31.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1019&#31;reute
r f BC-GM,-ISUZU-IN-U.K.-TRU   04-24 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>GM, ISUZU IN U.K. TRUCK JOINT VENTURE</TITLE>
<DATELINE>    LONDON, April 24 - </DATELINE><BODY>General Motors Corp's &lt;GM> Bedford
Trucks subsidiary has signed a memorandum of understanding with
its affiliate Isuzu Motors Ltd &lt;ISUM.T> to negotiate a van
manufacturing joint venture in the U.K.
    The proposals would involve doubling output at the loss
making plant at Luton in southern England to around 40,000 vans
a year by 1990.
     Bedford, faced with reduced demand for heavy trucks in the
last few years, stopped most of its heavy truck production at
the end of 1986. GM would have a 60 pct stake in the venture
and Izuzu 40 pct
    GM holds a 38.6 pct stake in Isuzu.
    Bedford already has a link with Izuzu under which it
assembles some smaller Japanese vehicles in Britain.
    A Bedford spokesman said financial details of the deal had
not yet been finalised although it was anticipated that the
venture would start without debt.
    Currently the Luton van plant was estimated to be losing
some 500,000 stg a week, he added.
    Bedford's other truck plant, which manufactures military
vehicles and trucks in kit form for export, was not involved in
the venture.
    Analysts said the deal was another attempt by U.K. Truck
manufacturers to restructure operations and cope with heavy
losses and low demand that have hit the market over the past
few years.
    In February, state-owned Rover Group Plc &lt;BLLL.L> formed a
joint venture with &lt;Van Doorne's Bedrijswagenfabriek Daf BV>
for truck manufacture, with Daf owning 60 pct.
    Last year, Ford Motor Co's &lt;F.N> U.K. Subsidiary formed a
joint venture with Fiat SpA's &lt;FIAT.MI> 's &lt;Iveco BV> for the
supply and marketing of small commercial vehicles in Britain.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21718" NEWID="17095">
<DATE>24-APR-1987 10:22:39.00</DATE>
<TOPICS><D>iron-steel</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1052&#31;reute
r f BC-BETHLEHEM-STEEL-CORP   04-24 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>BETHLEHEM STEEL CORP &lt;BS> INCREASES PRICES</TITLE>
<DATELINE>    BETHLEHEM, Pa., April 24 - </DATELINE><BODY>Bethlehem Steel Corp said it was
raising the prices by 30 dlrs per ton on section extras on
certain wide planned structural shapes.
    The increase will affect seven wide planned section groups
and will increase the price to 500 dlrs per ton from 470 dlrs
per ton, effective May 3, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21719" NEWID="17096">
<DATE>24-APR-1987 10:31:44.23</DATE>
<TOPICS><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f1097&#31;reute
u f BC-/EXXON-&lt;XON>-NET-DROP   04-24 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>EXXON &lt;XON> NET DROPS ON LOWER OIL, GAS PRICES</TITLE>
<DATELINE>    NEW YORK, April 24 - </DATELINE><BODY>Exxon Corp reported a 37 pct drop in
first quarter profits to 1.07 billion dlrs citing lower oil and
gas prices.
    The company said profits in the lastest quarter included a
26 mln drl restructuring gain from divestment of certain gold
operations overseas, while last year's first quarter profit of
1.71 billion dlrs included the initial charge of 235 mln dlrs
for its 1986 corporate reorganization.
    First quarter revenues were down 13 pct to 19.44 billion
dlrs.
   
    One time items aside, Exxon said, its first quarter results
were stronger than 1986's final quarter which included several
large asset sales and positive inventory adjustments.
    It said earnings per share declined 36 pct reflecting the
company's continued purchases of its own common for the
treasury. During the first quarter, 5,085,000 shares were
acquired at a cost of 416 mln dlrs compared with 3,132,000 in
1986's fourth quarter.
    Commenting on the first quarter, Exxon said crude oil
prices strengthened moderately within the quarter and were
higher than a year ago at the end of the quarter.
   
    However, average crude prices for the quarter were below
the year ago period, leading to lower earnings for exploration
and production operations, Exxon said.
    Also contributing to reduced earnings were lower natural
gas prices, primarily overseas, representing contract
adjustments representing contract adjustments tied to falling
product prices in 1986, the company said.
    During the first quarter, the company said, intense
competition in both domestic and international markets served
to depress margins for refined products.
   
    Exxon said the lower product margins resulted in
significantly reduced earnings for refining and marketing
operations, contrasting sharply with the unusually strong
margins prevailing in the first qtr of 1986.
    It said savings from efforts to control costs and improve
efficiency helped soften the negative impact of lower oil and
natural gas prices.
    Exxon said earnings from chemicals and power generation
activities showed consideratble improvement, remaining strong
throughout the period.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21720" NEWID="17097">
<DATE>24-APR-1987 10:43:35.83</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>denmark</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T
&#22;&#22;&#1;f1149&#31;reute
d f BC-DANISH-SUGAR-BEET-PLA   04-24 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>DANISH SUGAR BEET PLANTING BEHIND SCHEDULE</TITLE>
<DATELINE>    COPENHAGEN, April 24 - </DATELINE><BODY>Sugar beet planting in Denmark is
about two weeks behind normal due to a severe winter and a wet
spring, a spokesman for the country's largest sugar beet
concern, De Danske Sukkerfabrikker A/S, said.
    The weather has improved recently but very little beet has
been drilled so far.
    "If good weather conditions continue, I think we will be
sowing next week or the following week," the spokesman said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21721" NEWID="17098">
<DATE>24-APR-1987 10:48:51.00</DATE>
<TOPICS><D>cpi</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1165&#31;reute
b f BC-/FED-SPOKESMAN-SAYS-N   04-24 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>FED SPOKESMAN SAYS NO NEWS CONFERENCE PLANNED</TITLE>
<DATELINE>    WASHINGTON, April 24 - </DATELINE><BODY>The Federal Reserve Board has no
news conference or announcement planned for today, a Fed
spokesman said, dispelling market rumors that a statement was
pending.
    "No such event is scheduled or planned," said spokesman Bob
Moore.
    Rumors of a pending Fed announcement or news conference
circulated in financial markets, following a government report
that consumer prices advanced by 0.4 pct in March, suggesting a
rapid rise of inflation.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21722" NEWID="17099">
<DATE>24-APR-1987 10:50:18.12</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1170&#31;reute
u f BC-/TEXAS-COMMERCE-&lt;TCB>   04-24 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>TEXAS COMMERCE &lt;TCB> HOLDERS APPROVE MERGER</TITLE>
<DATELINE>    HOUSTON, April 24 - </DATELINE><BODY>Texas Commerce Bancshares Inc said its
shareholders approved the merger of the bank with Chemical New
York Corp &lt;CHL>, moving a step closer towards creating the
nation's fourth largest bank.
    The company said each holder will receive 31.19 dlrs a
share in cash and securities, somewhat less than the 35 dlrs to
36 dlrs a share estimated when the deal was announced on
December 15, 1986. The deal is now worth 1.16 billion dlrs.
    The merger is still subject to approval by Chemical's
shareholders, who will vote on the deal at the company's annual
meeting on April 28.
    The company said 98.7 pct of the shareholders voting on the
merger cast an affirmative vote.
    Chairman and chief executive officer Ben Love said all
regulatory hurdles to the merger have been cleared, including
last week's final approval of the transaction by the U.S.
comptroller of the currency. Pending approval of Chemical's
shareholders, the merger should be closed by May one, he added.
    The bank said the combined company will have assets of
about 80 billion dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21723" NEWID="17100">
<DATE>24-APR-1987 10:51:04.17</DATE>
<TOPICS><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f1176&#31;reute
u f BC-/PHILLIPS-&lt;P>-CITES-L   04-24 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILLIPS &lt;P> CITES LOWER OIL PRICES IN DECLINE</TITLE>
<DATELINE>    BARTLESVILLE, Okla., April 24 - </DATELINE><BODY>Phillips Petroleum Co cited
lower oil and gas prices in its first quarter loss of 32 mln
dlrs or 16 cts a shares compared with net income of 96 mln dlrs
or 39 cts a share in the year-ago period.
    It also said there was a decline in crude oil production
due to its recently completed asset sales program.
    Phillips also said it expects crude prices will continue to
be soft in the second and third quarters, but will improve
toward the end of the year.
   
    Phillips also said that foreign currency transaction losses
in the first quarter were 10 mln dlrs compared with a gain of
46 mln dlrs in the fourth quarter of 1986 and a loss of one mln
dlrs in the first quarter of 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21724" NEWID="17101">
<DATE>24-APR-1987 10:57:23.61</DATE>
<TOPICS><D>crude</D><D>fuel</D><D>gas</D><D>naphtha</D><D>jet</D><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D><D>venezuela</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f1195&#31;reute
u f BC-VENEZUELA-RE-ESTABLIS   04-24 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>VENEZUELA RE-ESTABLISHES POSTED PRODUCT PRICES</TITLE>
<DATELINE>    NEW YORK, APRIL 24 - </DATELINE><BODY>Petroleos de Venezuela, PDVSA, the
state owned oil company, has re-established posted prices for
some light products and heavy fuel oil, industry sources in New
York said.
    The return to posted prices is a sign that the market is
returning to a more stable and orderly condition after a year
of volatile price movements in which Venezuela ceased posting
prices and moved to negotiating prices with companies.
    "We are in more stable market now and PDVSA has probably
decided to return to postings for some products," one industry
trade source said.
   
    But there was no talk of Venezuela posting prices for crude
oil which were also dropped in 1986.
    Posted prices were dropped in the first quarter of 1986  
when prices for crude oil and products tumbled in response to
OPEC's market share strategy and netback arrangements.
    PDVSA has set out posted prices for several groups of light
products including gasoline, naphtha, jet kerosene and
distillates effective April 15 as follows.
    Unleaded gasoline was posted at 19.74 dlrs a barrel (47 cts
a gallon) with leaded gasoline at 20.16 dlrs a barrel (48 cts a
gallon).
   
    Light naphtha was posted at 17.85 dlrs a barrel (42.5 cts a
gallon), full range naphtha at 19.11 dlrs a barrel (45.50 cts a
gallon), and heavy naphtha at 19.53 cts a gallon (46.5 cts a
gallon).
    Jet kerosene was posted at 18.90 dlrs a barrel, also
effective April 15, or (45 cts a gallon) with dual purpose
kerosene at 18.06 dlrs a barrel (43 cts a gallon).
    Distillates of 0.2 pct sulphur and 0.3 pct sulphur grades
were posted at 18.48 dlrs a barrel (44 cts a gallon), each with
0.5 pct sulphur 18.08 dlrs a barrel (43.05 cts a gallon).
    LPG postings, also effective from April 15, were made as 
follows, propane 175 dlrs a tonne (33.33 cts a gallon), butane
210 dlrs a tonne (46.26 cts a gallon) and isobutane at 240 dlrs
a tonne.
    Heavy fuel products were given a posted price effective
April 10 and ranged from 0.3 pct sulphur at 19.35 dlrs a barrel
to 17.21 dlrs a barrel for 2.8 pct sulphur.
    Heavy fuel postings are also referred to as minimum export
prices.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21725" NEWID="17102">
<DATE>24-APR-1987 11:09:38.67</DATE>
<TOPICS><D>heat</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f1265&#31;reute
u f BC-EXXON-&lt;XON>-RAISES-HE   04-24 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>EXXON &lt;XON> RAISES HEATING OIL PRICE, TRADERS SAID</TITLE>
<DATELINE>    NEW YORK, April 24 - </DATELINE><BODY>Oil traders in the New York area said
Exxon Corp's Exxon U.S.A. subsidiary raised the price it
charges contract barge customers for heating oil in the New
York harbor by 0.50 cent a gallon, effective today.
    They said the 0.50 cent a gallon increase brings Exxon's
contract barge price to 49.25 cts a gallon.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21726" NEWID="17103">
<DATE>24-APR-1987 11:10:16.57</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>netherlands</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1270&#31;reute
u f BC-PHILIPS-PLANS-MEDICAL   04-24 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILIPS PLANS MEDICAL JOINT VENTURE WITH GEC</TITLE>
<DATELINE>    EINDHOVEN, Netherlands, April 24 - </DATELINE><BODY>NV Philips
Gloeilampenfabrieken &lt;PGLO.AS> and General Electric Co Plc
&lt;GEC.L> are planning a 50-50 joint venture in the medical
equipment field, Philips announced.
    The venture will group all the medical systems of the two
companies, combining GEC's Ohio-based medical division Picker
International with Philips' medical division in a new
U.S.-based subsidiary.
    Picker employs 6,000 people worldwide and has production
and distribution facilities in North America, Britain, West
Germany, the Caribbean and Japan.
    Picker's turnover in the year ending March 31, 1986
totalled 612 mln dlrs, according to Philips.
    Philips' own medical systems activities, currently part of
its Professional Products and Systems division, with
headquarters in the Dutch town of Brest near Eindhoven, has
production facilities in the U.S., West Germany, France, Italy
and Britain as well as in the Netherlands.
    Its 1986 turnover was 2.82 billion guilders.
    Philips said GEC was planning substantial additional
investment in the project to bring its share to 50 pct.
    "The new company will be a vigorous competitor in all the
important areas in the world, with matching distribution
networks and other facilities capable of meeting the needs of
rapidly advancing technology in medical systems," Philips said.
    Dutch corporate analysts said the merger will create the
world's second biggest company specialised in medical
technology after U.S. General Electric Co &lt;GE.N>.
    The new company should start operations in the second half
of this year, a Philips spokesman said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21727" NEWID="17104">
<DATE>24-APR-1987 11:10:37.74</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D><D>south-korea</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f1273&#31;reute
r f BC-hyundai   04-24 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>HYUNDAI AUTO CANADA TO RECALL 126,524 CARS</TITLE>
<DATELINE>    TORONTO, April 24 - </DATELINE><BODY>Hyundai Auto Canada Inc, wholly owned
by the South Korean concern, said it recalled 126,524 cars for
inspection of a mechanism that may cause the hood to open
without warning while the vehicle is in motion.
    The company said the voluntary recall affects Hyundai Pony
cars sold in Canada and produced before Dec 4, 1986.
    Hyundai models sold in the United States and other
countries are not affected by the recall.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21728" NEWID="17105">
<DATE>24-APR-1987 11:19:05.03</DATE>
<TOPICS><D>palm-oil</D><D>veg-oil</D></TOPICS>
<PLACES><D>uk</D><D>india</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f1313&#31;reute
b f BC-TRADERS-CONFIRM-SOME   04-24 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>TRADERS CONFIRM SOME INDIAN PALM OLEIN PURCHASES</TITLE>
<DATELINE>    LONDON, April 24 - </DATELINE><BODY>Traders said the Indian State Trading
Corporation (STC) bought three 6,000 tonne cargoes of refined
bleached deodorised palm olein at its import tender today. They
also said the STC is still in the market and additional
business may be concluded over the weekend.
    The confirmed business comprised two cargoes of rbd olein
for June shipment at 351.50 dlrs per tonne and one July at 352
dlrs cif, all on 30 pct counter trade.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21729" NEWID="17106">
<DATE>24-APR-1987 11:20:56.30</DATE>
<TOPICS><D>bop</D><D>ipi</D><D>trade</D></TOPICS>
<PLACES><D>zimbabwe</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1322&#31;reute
r f BC-ZIMBABWE-BANKING-CORP   04-24 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>ZIMBABWE BANKING CORP URGES POLICY REFORM</TITLE>
<DATELINE>    HARARE, April 24 - </DATELINE><BODY>A range of substantial policy
initiatives need to be implemented to shift resources from
consumption to production in the Zimbabwe economy, says the
Zimbabwe Banking Corporation (ZBC) in its quarterly economic
review.
    The state owned banking group says although Zimbabwe's
balance of payments improved significantly last year the
underlying position deteriorated. Last year's improved trade
surplus was partly the result of sales of stockpiled gold and
continued import restraint.
    It says debt service charges are projected to exceed 35 pct
of exports in 1987 and warns against squeezing imports further.
    ZBC says mining industry import quotas for the first six
months of 1987 have been halved and those for manufacturing
industry cut by a third.
    It contrasts the performance of manufacturing industry in
1967 to 1974, with that since independence in 1980. Industrial
production almost doubled between 1967 and 1974, when foreign
currency allocations almost trebled in real terms.
    Since 1980, import allocations have been cut 45 pct and the
Zimbabwe dollar has depreciated by more than 60 pct. As a
result the bank says the external purchasing power of foreign
currency allocations is currently only 20 pct of its 1980
levels.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21730" NEWID="17107">
<DATE>24-APR-1987 11:22:35.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f1328&#31;reute
u f BC-CANADA-STOCK-PURCHASE   04-24 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA STOCK PURCHASES BY FOREIGNERS SOAR</TITLE>
<DATELINE>    OTTAWA, April 24 - </DATELINE><BODY>Foreign investors purchased, on a net
basis, a record one billion dlrs of Canadian stocks in
February, more than the total for all of 1986, Statistics
Canada said.
    U.S. residents continued to be the largest investor, with
purchases doubling from the previous month to more than 800 mln
dlrs.
    Net sales of outstanding Canadian bonds to Japan, however,
amounted to 679 mln dlrs in February, which, on average, was
about 500 mln less than in each of the four previous months.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21731" NEWID="17108">
<DATE>24-APR-1987 11:31:18.91</DATE>
<TOPICS><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f1358&#31;reute
h f BC-NOBLE-&lt;NBL>-SUBMITS-H   04-24 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>NOBLE &lt;NBL> SUBMITS HIGH BID FOR TRACT</TITLE>
<DATELINE>    ARDMORE, Okla., April 24 - </DATELINE><BODY>Noble Affiliates Inc said it
submitted the high bid for six tracts at the Central Gulf of
Mexico sale on April 22.
    It said its exploration and production subsidiary, Samedan
Oil Corp, participated in the high bid for the following
tracts, West Cameron 296, East Cameron 296, Vermilion 266, Ship
Shoal 350, Main Pass 90 and Main Pass 100.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21732" NEWID="17109">
<DATE>24-APR-1987 11:39:16.40</DATE>
<TOPICS><D>lead</D><D>zinc</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f1395&#31;reute
r f BC-COMINCO-&lt;CLT>-B.C.-WO   04-24 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>COMINCO &lt;CLT> B.C. WORKERS AUTHORIZE STRIKE</TITLE>
<DATELINE>    TRAIL, British Columbia, April 24 - </DATELINE><BODY>Cominco Ltd's 3,200
unionized workers at its Trail and Kimberley, British Columbia
lead-zinc operations voted 94 pct in favor of authorizing a
possible strike, the union said in reply to an inquiry.
    Their two-year contracts expire on April 30.
    A spokesman for the United Steelworkers of America, which
represents the workers, reiterated that private mediation talks
are set for Monday and that no strike date had been set.
   
    The union has said it is asking for a three pct wage hike
in each year of a proposed two-year contract, while Cominco has
offered a 40 ct an hour increase in the third year of a
proposed contract if workers agree to loosen rules on job
classifications.
    The average unionized worker's wage is now about 14.78 dlrs
an hour.
    Cominco's Trail operations produced 240,000 long tons of
zinc and 110,000 long tons of lead in 1986. The Sullivan mine
at Kimberley produced 2.2 mln long tons of ore last year, most
for processing at the Trail smelter.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21733" NEWID="17110">
<DATE>24-APR-1987 11:40:48.73</DATE>
<TOPICS><D>acq</D><D>crude</D></TOPICS>
<PLACES><D>uk</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1404&#31;reute
d f BC-PETRANOL-IN-TAKEOVER   04-24 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>PETRANOL IN TAKEOVER TALKS WITH PERRODO GROUP</TITLE>
<DATELINE>    LONDON, April 25 - </DATELINE><BODY>&lt;Petranol Plc> said it was discussing
the takeover of an unnamed company owned by Frenchman Hubert
Perrodo in exchange for Perrodo taking a 51 pct stake in
Petranol.
    It said in a statement the assets of the company to be
acquired included a "substantial interest" in an unspecified oil
field in Torrance, California, and five mln dlrs in cash.
    Funding commitments for Petranol, both in respect of the
Californian oil field and Petranol's existing U.S. Assets,
would be included in the agreement. Petranol said the deal
would enhance its presence in the U.S., Increase its capital
and secure the availability of development cash.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21734" NEWID="17111">
<DATE>24-APR-1987 11:41:34.25</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1410&#31;reute
d f BC-HAGENSBORG-RESOURCES   04-24 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>HAGENSBORG RESOURCES &lt;HGS.V> RAISES SEVEN MLN</TITLE>
<DATELINE>    VANCOUVER, British Columbia, April 24 - </DATELINE><BODY>Hagensborg
Resources Ltd said it will receive a seven mln dlrs Canadian
line of credit from the Bank of Novia Scotia to develop a
salmon farming operation.
    The company said the funds will be used to complete
construction of the land-based operation at Nanaimo in British
Columbia.
    Details of the credit line are being finalized with the
Bank of Novia Scotia with the financing to be fully guaranteed
by Norway-based Den Norske Creditbank and the Norwegian
Guarantee Institute for Export Credit, it added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21735" NEWID="17112">
<DATE>24-APR-1987 11:46:50.46</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>morocco</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>worldbank</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f1432&#31;reute
r f BC-WORLD-BANK-LOANS-MORO   04-24 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>WORLD BANK LOANS MOROCCO 125 MLN DLRS</TITLE>
<DATELINE>    WASHINGTON, April 24 - </DATELINE><BODY>The World Bank said it will provide
Morocco a 125 mln dlr loan for a project intended to improve,
expand and modernize its telecommunications network.
    The Bank said the project expects to satisfy about 80 pct
of the demand for telephone service and the 100 pct of the
demand for telex service by 1994.
    The total cost of the project is 647.5 mln dlrs, with the
Office National des Postes et Telecommunications du Maroc
providing 359.6 mln dlrs and bilateral sources expected to
provide 189.9 mln dlrs, the Bank said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21736" NEWID="17113">
<DATE>24-APR-1987 11:48:52.59</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1439&#31;reute
r f BC-JIM-WALTER-&lt;JWC>-APRO   04-24 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>JIM WALTER &lt;JWC> APROVES STOCK SPLIT</TITLE>
<DATELINE>    TAMPA, Fla., April 24 - </DATELINE><BODY>Jim Walter Corp said its board
approved a 5-for-4 stock split in the form of a 25 pct stock
dividend to be distributed July 12 to stockholders of record
June 15.
    It also said its board approved a regular quarterly cash
dividend of 35 cts a share on its pre-split common, payable
July one to holders of record June 15. The current dividend is
equal to 28 cts on the common outstanding after the split.
    The company said it plans to increase the quarterly cash
dividend on the post-split shares by seven pct to 30 cts
beginning with the October one payment.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21737" NEWID="17114">
<DATE>24-APR-1987 11:50:02.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f1448&#31;reute
r f BC-BANK-BOARD-CHAIRMAN-S   04-24 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK BOARD CHAIRMAN SAYS MORE FSLIC FUNDS NEEDED</TITLE>
<DATELINE>    WASHINGTON, April 24 - </DATELINE><BODY>Federal Home Loan Bank Board
chairman Edwin Gray said pending bills do not provide enough
money for the Federal Savings and Loan Insurance Corp to deal
with insolvent thrift associations.
    The Senate has passed a bill to provide 7.5 billion dlrs in
FSLIC recapitalization, while the House Banking Committee has
approved five billion dlrs in new funds.
    "We are operating right now on net operating losses of four
billion dlrs a year. That's double last year. We think it's
going to increase," Gray told a Senate Appropriations
subcommittee hearing.
    "The FSLIC is insolvent under generally accepted accounting
procedures and it lacks the financial resources to
cost-effectively resolve its caseload of insolvent
institutions," Gray said.
    Gray said FSLIC now had 191 cases and the number was
expected to increase.
    He said the gap between the 80 pct of healthy savings
associations and the other 20 pct of thrifts grew in 1986.
    Banking committee chairman William Proxmire, D-Wis, told
Gray he supported more recapitalization, but other members did
not want to impose a greater burden on healthy thrifts.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21738" NEWID="17115">
<DATE>24-APR-1987 11:56:05.90</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1469&#31;reute
r f BC-SIERRA-HEALTH   04-24 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>INVESTOR HAS 5.1 PCT OF SIERRA HEALTH &lt;SIE></TITLE>
<DATELINE>    WASHINGTON, April 24 - </DATELINE><BODY>Peter Lin, a Montebello, Calif.,
physician, told the Securities and Exchange Commission he has
acquired 285,000 shares of Sierra Health Services Inc, or 5.1
pct of the total outstanding common stock.
    Lin said he bought the stock for about 1.7 mln dlrs solely
for investment purposes.
    Although he said he may buy more stock in Sierra Health
Services, Lin said he has no intention of seeking control of
the company.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21739" NEWID="17116">
<DATE>24-APR-1987 11:57:12.23</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1476&#31;reute
r f BC-GM-&lt;GM>,-TOYOTA-JOINT   04-24 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>GM &lt;GM>, TOYOTA JOINT VENTURE CUTS PRODUCTION</TITLE>
<DATELINE>    FREMONT, Calif., April 24 - </DATELINE><BODY>New United Motor Manufacturing
Inc, a joint venture formed by General Motors Corp and Toyota
Motor Corp, said it plans to cut production at its automaking
facility here because of lower than anticipated sales.
    The company said production will be reduced to about 750
vehicles per day from the current rate of 800 per day,
effective May 18.
    It said there will be no layoffs because of the cutbacks,
but the lower production schedule will be in effect throughout
the 1987 model year.
    GM and Toyota produce the Chevrolet Nova at the
joint-venture plant, which began production in December, 1984.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21740" NEWID="17117">
<DATE>24-APR-1987 12:02:57.56</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>iraq</D><D>iran</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1502&#31;reute
u f BC-IRAQ-SAYS-IT-HIT-TWO   04-24 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>IRAQ SAYS IT HIT TWO SHIPS IN GULF, DOWNS IRAN F-4</TITLE>
<DATELINE>    BAGHDAD, April 24 - </DATELINE><BODY>Iraq said its warplanes attacked two
large naval targets -- Baghdad's usual term for oil tankers or
merchant ships -- in the Gulf today.
    A military spokesman said the planes scored accurate and
effective hits in both attacks.
    There was no immediate confirmation of the raids from
independent shipping sources in the region.
    The spokesman said during one of the attacks, Iraqi planes
intercepted an Iranian F-4 Phantom and shot it down. All Iraqi
warplanes returned safely to base, he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21741" NEWID="17118">
<DATE>24-APR-1987 12:04:49.88</DATE>
<TOPICS><D>copper</D><D>nickel</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f1510&#31;reute
u f BC-U.S.-MINT-ANNOUNCES-C   04-24 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. MINT ANNOUNCES COPPER/NICKEL AWARDS</TITLE>
<DATELINE>    WASHINGTON, April 24 - </DATELINE><BODY>The U.S. Mint said it awarded
contracts to Philipp Brothers, N.Y., and Sidney Danziger, a New
York metals merchant, to procure 3,701,000 lbs of
electrolytic copper and 629,000 lbs electrolytic cut nickel
cathodes or briquettes.
    The Mint said Philipp Brothers will supply the entire
3,701,000 lbs of copper at a cost of 0.66845 dlrs per lb.
    Sidney Danziger will furnish 338,000 lbs of the nickel at
1.8344 dlrs per lb, while Phibro will provide 291,000 lbs at
1.8369 dlrs per lb, the Mint said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21742" NEWID="17119">
<DATE>24-APR-1987 12:07:15.93</DATE>
<TOPICS><D>bop</D><D>gnp</D></TOPICS>
<PLACES><D>west-germany</D><D>usa</D></PLACES>
<PEOPLE><D>bangemann</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1531&#31;reute
u f BC-GERMAN-GROWTH-WILL-NO   04-24 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN GROWTH WILL NOT CUT U.S. DEFICIT -BANGEMANN</TITLE>
<DATELINE>    BONN, April 24 - </DATELINE><BODY>Economics Minister Martin Bangemann, who
flies to Washington this weekend for high level talks, said
boosting West German economic growth would not have any
significant effect on the high U.S. Current account deficit.
    In a paper prepared ahead of his trip, Bangemann said
Bonn's trading partners had been asking whether West German
growth was slowing and whether the Federal Republic should not
in the future pursue more strongly expansionary policies.
    In the paper Bangemann wrote, "It is not possible to reduce
the U.S. Current account deficit by any signficant amount just
through more stimulation of the West German economy."
    One U.S. Administration policy maker said in Washington
this week that the United States government wanted West Germany
and Japan to reduce their interest rates even further to
stimulate their economies.
    Bangemann said it was clear the high mark, as well as
uncertainty about further currency developments, was making
companies here cautious about production plans and investments.
    While West Germany did not seek exchange rates which
unilaterally favoured its exports, it favoured more stability
and realistic rates, which corresponded to "fundamentals."
    He welcomed the February "Louvre Agreement" of six industrial
nations to stabilise currencies and said, "(We) expect all
parties to hold by the accords struck there." West Germany had
fulfilled its pledge of boosting planned tax cuts, he noted.
    Despite calls for lower interest rates, Bundesbank
Vice-President Helmut Schlesinger has hinted that central bank
policy may even have to be tightened.
    He wrote in a newspaper article published yesterday that
the Bundesbank's current accommodative stance could not
continue in the long term.
    During his trip to Washington, which runs from April 26 to
29, Bangemann will meet Secretary of State George Shultz, trade
envoy Clayton Yeutter, World Bank President Barber Conable, IMF
Managing Director Michel Camdessus and Paul Volcker, Chairman
of the Federal Reserve Board.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21743" NEWID="17120">
<DATE>24-APR-1987 12:07:42.60</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f1534&#31;reute
r f BC-PHIBRO-ENERGY-CHAIRMA   04-24 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>PHIBRO ENERGY CHAIRMAN SAID TO HAVE RESIGNED</TITLE>
<DATELINE>    New York, April 24 - </DATELINE><BODY>Thomas O'Malley, Chairman of Phibro
Energy, a subsidiary of Salomon Bros Inc &lt;SB>, has left the
company to form his own oil trading firm because of unhappiness
with the current arrangement between Salomon Brothers and
Phibro Energy, industry sources said.
    Earlier he resigned as a Director and Vice Chairman of
Salomon Inc.
    A Salomon spokesman did not deny that O'Malley had left the
company but offered no further comments at this time.
    Al Kaplan, another former Phibro Energy executive, will
join the new business, the sources said.
    The new company, Argus Energy, is located in Stamford,
Conn., and will begin active trading in June of this year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21744" NEWID="17121">
<DATE>24-APR-1987 12:09:23.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A
&#22;&#22;&#1;f1546&#31;reute
r f BC-FARM-CREDIT-SEEN-NEED   04-24 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>FARM CREDIT SEEN NEEDING UP TO 4.5 BILLION DLRS</TITLE>
<DATELINE>    WASHINGTON, April 24 - </DATELINE><BODY>The Farm Credit System will need
3-4.5 billion dlrs in federal assistance to cover losses over
the next three years, a member of the board of the System's
regulatory agency said.
    Jim Billington, member of the three-person board of
directors of the Farm Credit Administration, said he intended
to ask the board on May 5 to vote to certify that the ailing
farm lending network needs federal aid.
    Billington, the sole Democrat on the board, said the System
would need federal aid sooner than suggested by a FCA report,
which said assistance would be required by the end of 1987.
    "I would say the System will require outside financial
assistance possibly by July 1 if System districts don't lend
unsecured credit to one another to meet collateral problems," he
said.
    FCA officials today disclosed that efforts by the System's
districts to reach a collateral-sharing agreement has been
suspended.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21745" NEWID="17122">
<DATE>24-APR-1987 12:18:34.57</DATE>
<TOPICS><D>acq</D><D>gold</D></TOPICS>
<PLACES><D>usa</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F E
&#22;&#22;&#1;f1595&#31;reute
r f BC-ABM-GOLD-TO-RAISE-INT   04-24 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>ABM GOLD TO RAISE INTERESTS IN CANADA COMPANIES</TITLE>
<DATELINE>    NEW YORK, April 24 - </DATELINE><BODY>ABM Gold Corp will use the proceeds of
an initial public offering of seven mln shares of stock at 10
dlrs a share to increase its interest in three Canadian
companies, said co-managing underwriters PaineWebber Inc and
Advest Inc.
    ABM Gold manages and develops properties of Sonora Gold
Corp &lt;SON.TO>, Goldenbell Resources Inc &lt;GBL.TO>, United Gold
Corp &lt;UGC.V> and Inca Resources Inc &lt;IRI.TO>.
    Proceeds will be used to raise its stake in Sonora, buy a
15 pct interest in the net profits of Sonora's Jamestown mine,
and buy capital stock of Goldenball and United, they said.
    ABM Gold explores, acquires and develops gold properties in
California, and also processes gold-bearing ore into gold
bullion.
    The co-managing underwriters said they are selling 3.5 mln
shares in the U.S. and Canada, while an interational offering
will be managed by PaineWebber International. The underwriters
have been granted an option to buy up to an additional 105,000
shares to cover over-allotments.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21746" NEWID="17123">
<DATE>24-APR-1987 12:22:42.86</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>west-germany</D><D>ussr</D><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T
&#22;&#22;&#1;f1621&#31;reute
u f BC-EUROPEAN-BEET-SOWINGS   04-24 0120</UNKNOWN>
<TEXT>&#2;
<TITLE>EUROPEAN BEET SOWINGS CATCH UP, USSR DELAYED</TITLE>
<DATELINE>    RATZEBURG, April 24 - </DATELINE><BODY>Fine weather throughout Europe
allowed farmers to make good progress with sugar beet sowings
during the period April 16-21, but conditions in the Soviet
Union remained unfavourable, West German analyst F.O. Licht
said.
    With daytime temperatures in parts of Europe exceeding 20
degrees centigrade Licht said sowings have been boosted and may
be completed in most countries by the end of the month.
    In France the beet growers' association said the entire
crop could be sown within a week if the good weather persists.
    Sowings this year will still be behind 1986 but Licht noted
that good results have often been produced from late-sown
crops.
    In the Soviet Union, however, most beet-growing regions
still had cool weather with night frosts. Only in the western
Ukraine was it warm enough to permit sowings, Licht said.
    Sowings in the USSR will consequently be much later than
last year when one mln hectares had already been drilled by
mid-April.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21747" NEWID="17124">
<DATE>24-APR-1987 12:25:23.51</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1636&#31;reute
r f BC-FERRO-&lt;FOE>-INCREASES   04-24 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>FERRO &lt;FOE> INCREASES SHARES</TITLE>
<DATELINE>    CLEVELAND, Ohio, APril 24 - </DATELINE><BODY>Ferro Corp said shareholders
approved increasing the number of authorized common shares to
50 mln from 20 mln.
    Shareholders also approved amending the indemnification
provisions of the Code of Regulations of the company and
re-elected three directors to three-year terms on the board of
directors.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21748" NEWID="17125">
<DATE>24-APR-1987 12:26:00.70</DATE>
<TOPICS><D>gas</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f1640&#31;reute
r f BC-AMOCO-&lt;AN>-TO-SUPPLY   04-24 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>AMOCO &lt;AN> TO SUPPLY LEADED GAS TO FARMERS</TITLE>
<DATELINE>    CHICAGO, April 24 - </DATELINE><BODY>Amoco Oil Co said it will continue to
sell leaded gasoline to farmers in certain portions of the
midwest as long as there is sufficient demand for the product.
    "It appears that the agricultural community will need
limited amounts of leaded gasoline for certain types of
equipment until an acceptable alternative is found," the
company said.
    Amoco previously announced it would sell all lead-free
gasoline to motorists at its service stations.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21749" NEWID="17126">
<DATE>24-APR-1987 12:28:16.49</DATE>
<TOPICS><D>money-fx</D><D>dlr</D><D>trade</D></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1651&#31;reute
b f BC-/BAKER-SAYS-G-7-WANTS   04-24 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>BAKER SAYS G-7 WANTS TO HALT DOLLAR FALL</TITLE>
<DATELINE>    WASHINGTON, April 24 - </DATELINE><BODY>Treasury Secretary James Baker said
the Group of Seven leading industrial nations is fully
committed to halting a further decline in the dollar.
    "Let me emphasize that all seven major industrial nations
remain fully committed to strengthening policy coordination,
promoting growth and cooperating to foster stability of
exchange rates," he told the American Enterprise Institute.
    "We all believe a further decline of the dollar could be
counter productive to our efforts (to promote growth)," he said.
    Baker also said that after meeting Japanese special envy
Shintaro Abe, "it's clear that Japan intends to take strong
steps to stimulate its economy to meet its committments under
the Louvre Accord."
    Baker said in the past two years he has worked to promote
greater coordination of economic policies and important
progress has been made.
    "Substantial exchange rate adjustments have also been
accomplished over the past two years so that today we are
better positioned to promote growth and reduce external
imbalances," he said.
    Baker pointed out that in February the seven agreed to
foster stable exchange rates and those commitments were
renewed recently.
     In a speech largely devoted to discussing trade and
competitiveness, Baker again warned of the dangers of
protectionist trade legislation, saying it would harm the U.S.
standard of living.
    Baker stressed adminstration trade policy sought to remove
foreign barriers to trade and via forthcoming GATT talks will
focus on agriculture, services and intellectual property.
    The Treasury Secretary said that as well as trade issues he
had to focus on macroeconomic issues as well which encompass
the trade picture.
    "The world economy today is really one constantly flowing
circle of capital and goods. Trade accounts catch and measure
that flow at only one spot on the circle," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21750" NEWID="17127">
<DATE>24-APR-1987 12:28:56.31</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f1655&#31;reute
r f BC-ELDERS-ACQUIRES-95-PC   04-24 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>ELDERS ACQUIRES 95 PCT OF CARLING &lt;CKB></TITLE>
<DATELINE>    TORONTO, April 24 - </DATELINE><BODY>&lt;Elders IXL Ltd>, of Australia, said it
acquired 20.8 mln or 95 pct of Carling O'Keefe Ltd common
shares under its previously announced tender offer that expired
yesterday.
    Investment Canada said earlier this week it approved
Elders's takeover of Carling, Canada's third largest brewery.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21751" NEWID="17128">
<DATE>24-APR-1987 12:30:46.85</DATE>
<TOPICS><D>cpi</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f1661&#31;reute
u f BC-WHITE-HOUSE-SAYS-MARC   04-24 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>WHITE HOUSE SAYS MARCH CPI "NO CAUSE FOR ALARM"</TITLE>
<DATELINE>    WASHINGTON, April 24 - </DATELINE><BODY>The White House said last month's
0.4 per cent in increase in the CPI, the third sharp rise in
three months and one that brought the annual inflation rate to
6.2 pct so far this year, was no cause for alarm.
    "While this is something to watch, it's not something to be
alarmed about," said spokesman Marlin Fitzwater.
    He said the three month increase in inflation was due
almost entirely to higher energy prices.
    Fitzwater said once an OPEC price hike is "passed through
the system," the nation should see a slowing of the inflation
rate to the administration's 3.8 pct 1987 forecast.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21752" NEWID="17129">
<DATE>24-APR-1987 12:36:47.82</DATE>
<TOPICS><D>ipi</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A RM
&#22;&#22;&#1;f1702&#31;reute
r f BC-U.S.-PRODUCTIVITY-REP   04-24 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. PRODUCTIVITY REPORT RESCHEDULED TO MAY 4</TITLE>
<DATELINE>    WASHINGTON, April 24 - </DATELINE><BODY>The Labor Department said it
rescheduled the release of the first-quarter nonfarm
productivity report to May 4 at 1000 EDT (1400 GMT) from April
27.
    The delay was necessary because the Commerce Department
moved back release of national income and product data used by
the Labor Department to compute productivity.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21753" NEWID="17130">
<DATE>24-APR-1987 12:41:07.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1716&#31;reute
u f BC-SEARS-&lt;S>-RESTRUCTURE   04-24 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>SEARS &lt;S> RESTRUCTURES BUSINESS SYSTEMS CENTERS</TITLE>
<DATELINE>    CHICAGO, April 24 - </DATELINE><BODY>Sears Roebuck and Co said it will
restructure its business systems centers, which sell computer
systems.
    The restructuring reflects the changing personal computer
market, Sears said.
    Sears will consolidate 41 business systems center outlets
in markets where it has more than one sales facility.
    Sales and support staffs will remain intact and will report
to a single location in most metropolitan areas.
    When the consolidation is complete, Sears will operate 59
computer centers in 51 markets nationwide.
    Some 31 markets with single sales offices will not be
affected.
    "We no longer need as many sales locations in each market
because our sales organization will be calling directly upon
our customers at their places of business," explained John H.
Rollins, national manager of Sears Business Systems Centers.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21754" NEWID="17131">
<DATE>24-APR-1987 12:43:46.43</DATE>
<TOPICS><D>oilseed</D><D>sunseed</D><D>veg-oil</D><D>sun-oil</D></TOPICS>
<PLACES><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f1728&#31;reute
u f BC-SPANISH-SUNOIL-EXPORT   04-24 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>SPANISH SUNOIL EXPORTERS SEEK SEED CLEARANCE</TITLE>
<DATELINE>    MADRID, April 24 - </DATELINE><BODY>Spanish exporters are asking the
government to clear 33,200 tonnes of sunflower seed authorised
for export by the European Community (EC), a spokesman for one
of Spain's major sunflower oil producers said.
    He told Reuters in a telephone interview the government was
holding back on authorisation to hold prices low.
    "They are deliberately keeping prices down to help meet this
year's inflation target despite the threat of a surplus on what
looks like a bigger harvest than we expected," he said.
    He said the policy of allowing stocks to accumulate had
caused a price drop, with raw oil prices falling to 147 pesetas
a kilo from 160 at the start of the 1986/87 marketing year
ending July 31.
    Sunflower oil output was expected to rise to 370,000 tonnes
this year from 340,000 last year, with seed output up at
905,000 tonnes from 860,000 last year.
    He said domestic consumption was falling due to imports of
other edible oils. "We estimate demand at 296,000 tonnes this
year, leaving a 124,000 tonne surplus with the 50,000 tonnes
now stockpiled," he said. "If we discount 24,000 tonnes held for
strategic purposes, this still leaves us with 100,000 tonnes."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21755" NEWID="17132">
<DATE>24-APR-1987 12:43:50.14</DATE>
<TOPICS><D>oilseed</D><D>rapeseed</D></TOPICS>
<PLACES><D>japan</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1729&#31;reute
u f BC-JAPAN-BUYS-UP-TO-8,00   04-24 0039</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN BUYS UP TO 8,000 TONNES CANADIAN RAPESEED</TITLE>
<DATELINE>    WINNIPEG, April 24 - </DATELINE><BODY>Japanese crushers bought 5,000 to
8,000 tonnes of Canadian rapeseed for last-half May/first-half
June shipment, trade sources said. Price details were not
available.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21756" NEWID="17133">
<DATE>24-APR-1987 12:46:35.95</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f1739&#31;reute
u f BC-CORRECTION---PHIBRO-E   04-24 0067</UNKNOWN>
<TEXT TYPE="UNPROC">&#2;
CORRECTION - PHIBRO ENERGY CHAIRMAN
    In New York story headlined "Phibro Energy chairman said to
have resigned," please read in headline "Former Phibro Energy
Chariman Starts New company" and first paragraph: Thomas
O'Malley, former chairman and chief executive officer of Phibro
Energy, a subsidiary of Salomon Bros. Inc., has formed a oil
trading company. (clarifies that O'Malley was former chairman)
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21757" NEWID="17134">
<DATE>24-APR-1987 12:49:58.10</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1751&#31;reute
d f BC-CONTINENTAL-&lt;CONT.O>   04-24 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>CONTINENTAL &lt;CONT.O> BOARD CONSIDERS SUIT</TITLE>
<DATELINE>    MECHANICSBURG, Pa, April 24 - </DATELINE><BODY>Continental Medical Systems
Inc said its board met to consider the allegations in the
derivative action filed by Continental Care Group and that
officers named as defendants believe it to be totally without
merit is likely to be dismissed in Maryland Federal court.
    Continental Medical has sued Continental Care Group for
over 5 mln dlrs for breach of a contract calling for it to buy
12 nursing homes from Continental Care.
    Yesterday, Continental Care filed a derivative action
against Continental Medical charging it with fraud and
misrepresentation of fiduciary duties.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21758" NEWID="17135">
<DATE>24-APR-1987 12:54:36.57</DATE>
<TOPICS><D>crude</D><D>nat-gas</D><D>gas</D><D>pet-chem</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f1767&#31;reute
u f BC-/SHELL-OIL-FIRST-QUAR   04-24 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>SHELL OIL FIRST QUARTER NET DROPS 61 PCT </TITLE>
<DATELINE>    HOUSTON, April 24 - </DATELINE><BODY>Shell Oil Co said first quarter net
income dropped 61 pct over the prior-year quarter on revenues
that slipped four pct.
    "Lower prices for crude oil and natural gas and reduced
margins in our oil and chemical products businesses were the
major factor for the earings decline," John F. Bookout,
president, said in a statement.
    For the quarter, the company, a unit of Royal Dutch/Shell
Group &lt;RD> &lt;SC>, earned 108 mln dlrs on sales of 4.50 billion
dlrs, compared with 276 mln dlrs on sales of 4.67 billion dlrs
a year ago.
    Bookout said the company is cautiously optimistic oil
markets will be less volatile in coming months than they were
in 1986.
    "In coming months, oil products results should benefit from
seasonally higher gasoline volumes," he said.
    "However, so long as U.S. product inventories remain high,
it may be difficult to fully recover from the depressed margins
of recent periods," he added.
    Bookout said the company's chemical products earnings
should benefit from strong performances in chemical sales
volumes and continued high industry operating rates.
    Shell said its oil and gas exploration and product segment
earned 110 mln dlrs for the quarter vs 91 mln dlrs in 1986.
    It said earnings were hurt by lower selling prices for
crude oil, natural gas and natural gas liquids. Domestic crude
oil prices averaged 14.24 dlrs a barrel, compared with 19.28
dlrs last year, while natural gas prices dropped 24 pct, Shell
said.
    Shell said earnings at its oil products segment plunged by
53 mln dlrs, to eight mln dlrs. It said lower refined product
selling prices were only partially offset by reduced raw
material costs.
    The company said earnings from chemical products also fell
sharply, to 40 mln dlrs from 72 mln dlrs, due mainly to lower
margins, especially in commodity chemicals, coupled with its
pullout from the agricultural chemicals business in October
1986.
    Shell said capital and exploratory outlays totaled 500 mln
dlrs for the quarter, off from 645 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21759" NEWID="17136">
<DATE>24-APR-1987 12:56:25.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>ethiopia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>un</D><D>eca</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1774&#31;reute
r f BC-AFRICAN-GOVERNMENTS-C   04-24 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>AFRICAN GOVERNMENTS COMPLY ON RECOVERY PROGRAMMES</TITLE>
<DATELINE>    ADDIS ABABA, April 24 - </DATELINE><BODY>A majority of 31 African countries
replying to a questionnaire had carried out economic reforms
recommended in United Nations and Organisation of African Unity
(OAU) recovery programmes, Adebayo Adedji, Executive Secretary
of the U.N.'s Economic Commission for Africa said.
    He told African planning and economy ministers that the
questionnaires, distributed by the Economic Commission to
monitor the programmes, showed that 25 of the 31 countries had
taken steps to increase foreign aid.
    The same number had improved the investment climate in
their countries, he said.
    Twenty-two had made structural adjustments to their
economies, 22 had taken measures to promote exports and five
had carried out an "overall economic rehabilitation," he added.
    The main thrust of the recovery programmes was to encourage
agriculture by giving farmers greater incentives to produce.
    The OAU plan envisaged investment of 128 billion dlrs in
all 50 African countries over the next five years. Foreign
donors were expected to contribute 46 billion dlrs.
    Nineteen out of 50 African governments have failed to
answer the questionnaire, he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21760" NEWID="17137">
<DATE>24-APR-1987 13:06:58.68</DATE>
<TOPICS><D>veg-oil</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1810&#31;reute
u f BC-ASCS-SEEKS-12.5-MLN-P   04-24 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>ASCS SEEKS 12.5 MLN POUNDS VEG OIL FOR EXPORT</TITLE>
<DATELINE>    CHICAGO, April 24 - </DATELINE><BODY>The Agricultural Stabilization and
Conservation Service (ASCS) is seeking 12.5 mln pounds of
vegetable oil for export June 6-20 and June 21/July 5, an ASCS
official said.
    Offers must be received at the Kansas City Commodity Office
by 1430 CDT May 4, and successful offerors will be notified May
5.
 reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21761" NEWID="17138">
<DATE>24-APR-1987 13:07:35.68</DATE>
<TOPICS><D>money-fx</D><D>dlr</D><D>yen</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1813&#31;reute
u f BC-TREASURY'S-BAKER---G-   04-24 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>TREASURY'S BAKER - G-7 OPPOSE FURTHER DLR DROP</TITLE>
<DATELINE>    WASHINGTON, April 24 - </DATELINE><BODY>Treasury Secretary James Baker said
the Group of Seven countries, in seeking to foster stability in
exchange markets, believe a further decline in the value of the
dollar would be counterproductive.
     In answer to questions by a business group, Baker said
that for one thing further reductions could make it
economically difficult for the surplus countries to grow,
thereby making it difficult for them to purchase overseas
goods. In addition, Baker said he was opposed to the U.S.
selling a yen denominated bond arguing that such a move might
send the wrong signal to markets.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21762" NEWID="17139">
<DATE>24-APR-1987 13:08:14.57</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1818&#31;reute
u f BC-GERMAN-BANKS-FACE-DIS   04-24 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN BANKS FACE DISRUPTION AFTER TALKS COLLAPSE</TITLE>
<DATELINE>    DUESSELDORF, April 24 - </DATELINE><BODY>West German banks face disruption
from strike ballots and selective strikes after the breakdown
of talks on wages and working hours, the German Employees
Union, DAG, and the Commerce, Banking and Insurance Union, HBV,
said.
    But the chairman of the bank employers' federation, Horst
Burgard, told reporters in Frankfurt he hoped the two sides
would reach agreement after a pause for thought.
    DAG chief negotiator Gerhard Renner said the employers'
offer to resume talks was farcical as long as they refused to
remove the issue of flexible working hours from the talks.
    Both sides agreed there was now little point in top level
negotiations similar to those held in the engineering industry
which resolved a dispute on working hours.
    Renner and HBV chief negotiator Lorenz Schwegler said they
were prepared to compromise on the issue of flexible working
hours, but this subject should not be included in the wage
negotiations for the 380,000 bank employees.
    Burgard, also management board member of Deutsche Bank AG,
said the employers sought acceptance of more flexible hours on
an unchanged 40 hour week in the negotiations.
    The employers have unilaterally imposed a 3.6 pct pay rise
backdated to March 1, with the collapse of the talks. The HBV
is seeking a six pct rise and DAG a 6.5 pct increase.
    Schwegler said the unions would react to the collapse of
the talks with protest and warning strikes. Union officials
would resist overtime and attempts to introduce flexible hours.
    Next week the unions will set strike ballots aiming at
strikes in sensitive areas such as bank computer and bourse
data centres. The unions only account for some 25 pct of bank
employees. DAG will seek support from its members in the
Bundesbank who are not directly affected by the negotiations.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21763" NEWID="17140">
<DATE>24-APR-1987 13:09:16.09</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>uk</D><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1825&#31;reute
u f BC-GERMAN-INTERVENTION-S   04-24 0120</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN INTERVENTION SUGAR FOR EXPORT - LDN TRADE</TITLE>
<DATELINE>    LONDON, April 24 - </DATELINE><BODY>The most likely reason for West German
producers withdrawing white sugar from intervention stores is
that they already have, or are reasonably certain of, obtaining
European Community (EC) export licences for it, traders said.
    They were responding to EC Commission sources in Brussels
saying West German producers have withdrawn most of the 79,250
tonnes of the sugar they put into intervention on April 1.
    The traders said it is also likely that French producers,
who put over 700,000 tonnes into intervention, will withdraw a
significant proportion of this for the same reason before they
are due to accept payment for the sugar in early May.
    Earlier this week traders said the stepping up of the level
of export licences being granted by the EC at recent tenders,
with generous subsidies, had been due to producer threats to
leave the sugar in intervention and to a desire to move most of
the old crop sugar before the new crop tenders start in May.
    The EC has so far granted licences for 2,467,970 tonnes out
of around 3.1 mln tonnes targetted for export in the 1986/87
series of tenders. This would indicate the likelihood of high
tonnages continuing to be moved over the next few tenders and
subsidies also remaining high in order to attract producer bids
for the export licences, traders said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21764" NEWID="17141">
<DATE>24-APR-1987 13:17:09.30</DATE>
<TOPICS><D>money-fx</D><D>bop</D><D>coffee</D></TOPICS>
<PLACES><D>uganda</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1875&#31;reute
r f BC-UGANDAN-GOVERNMENT-PR   04-24 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>UGANDAN GOVERNMENT PROPOSES NEW TAXES</TITLE>
<DATELINE>    KAMPALA, April 24 - </DATELINE><BODY>The Ugandan government, in its four
year investment and development plan, proposed taxing land and
food crops in an attempt to broaden its revenue base away from
dependence on coffee sales.
    The government also said in the plan, made available to
Reuters, that a devaluation of the Ugandan shilling would do
little to redress a chronic balance of payments deficit.
    The plan, the first since President Yoweri Museveni took
power 15 months ago, seeks to raise 2.4 billion dlrs in
investment funds from abroad between 1987 and 1991.
    It says the government had already secured 1.4 billion dlrs
in pledges before Islamic lenders promised a further 494 mln
dlrs at a conference in Kampala last week.
    Uganda already had an external debt of 984 mln dlrs at the
end of 1986 and in the nine months of the current budget debt
servicing will cost 204 mln dlrs, almost 50 pct of export
earnings of 431 mln, the plan said.
    The new fiscal measures include a proposed tax on large
land holdings, regardless of whether the owners are exploiting
them, and taxes on maize, beans and other crops sold by the
Produce Marketing Board.
    The plan says the aim is to spread the tax burden, which in
Uganda has traditionally fallen almost exclusively on coffee
farmers. Coffee provides over 90 pct of foreign exchange
earnings and more than 70 pct of government revenue.
    On exchange rate policy, it repeats Museveni's argument
that any form of fotation would not help allocating resources.
    Western governments and multilateral funds say the Ugandan
shilling is grossly overvalued and the government must change
the exchange rate if it wishes to encourage investment. The
shilling sells on the black market at more than 15,000 to the
dollar, compared with an official rate of 1,400.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21765" NEWID="17142">
<DATE>24-APR-1987 13:17:50.07</DATE>
<TOPICS><D>silver</D></TOPICS>
<PLACES><D>mexico</D><D>peru</D></PLACES>
<PEOPLE><D>del-mazo</D><D>mancera-aguayo</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A
&#22;&#22;&#1;f1879&#31;reute
u f BC-no-mexican-reaction-t   04-24 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>NO MEXICO REACTION TO PERU SILVER TALKS PROPOSAL</TITLE>
<DATELINE>    Mexico city, april 24 - </DATELINE><BODY>mexico's minister of energy and
mines, alfredo del mazo, has yet to reply to a peruvian
invitation for ministerial-level talks on bilateral cooperation
in silver marketing, a ministry spokesman said.
    Peruvian officials said they extended the invitation
earlier this week and that it was possible the talks could be
held within the next 15 days.
    Meanwhile, a banco de mexico spokesman confirmed that
mexican central bank head miguel mancera aguayo held private
talks here yesterday with the president of the peruvian central
bank leonel figueroa.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21766" NEWID="17143">
<DATE>24-APR-1987 13:30:20.65</DATE>
<TOPICS><D>gnp</D><D>jobs</D><D>cpi</D></TOPICS>
<PLACES><D>jamaica</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f1919&#31;reute
u f BC-seaga-presents-growth   04-24 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>SEAGA PRESENTS GROWTH BUDGET FOR 1987</TITLE>
<DATELINE>    KINGSTON, Jamaica, April 24 - </DATELINE><BODY>prime minister edward seaga
last night presented a budget of 6.9 billion jamaica dlrs, the
largest in the country's history, which projects increases in
capital spending and continued divestment of state companies.
    In a nationally televised speech to the parliament, the
prime minister, who is also minister of finance, said jamaica's
gdp grew by four pct, the highest level in 15 years, while
unemployment stood at 23.6 pct, down from last year's 26 pct.
Inflation, meanwhile, was 9.4 pct, as compared to 19.7 pct two
years ago.
    Government revenues were up by 419 mln jamaica dlrs, to 4.3
billion, enough to finance the entire recurrent expenditure of
3.7 billion dlrs, with a 666 mln dlr surplus.
    Seaga said that with financial accounts in order, the
government will proceed to reduce the country's debt service
ratio from the current level of 49 pct of gdp to 25 pct over
the next five years.
    During this period, he said, growth would be targetted at
three to four pct.
    The 6.9 billion dlr budget, which represents an increase of
18 pct over last year's 5.8 billion, will be financed by
borrowing of 8.868 billion dlrs and estmated revenue of 1.385
billion.
    Seaga said 1.835 billion of the budget will go to finance a
government capital investment program. The plan, which
represents a 10.3 pct increase over last year, projects greater
spending on health, education, housing and infrastructure. Some
818 mln dlrs in revenue to finance the budget will come from
the government's divestment program, which seaga said will be
stepped up in 1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21767" NEWID="17144">
<DATE>24-APR-1987 13:30:26.81</DATE>
<TOPICS><D>gnp</D><D>bop</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1920&#31;reute
u f BC-FRANCE-REVISES-1986-G   04-24 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>FRANCE REVISES 1986 GDP GROWTH FROM TWO TO 1.9 PCT</TITLE>
<DATELINE>    PARIS, April 24 - </DATELINE><BODY>France's National Statistics Institute
(INSEE) said French 1986 Gross Domestic Product (GDP) grew by
1.9 pct, after Finance Minister Edouard Balladur reported a
1986 rise of just two pct in February.
    France's balance of payments surplus in goods and services
rose to 53 billion francs in 1986 against 28 billion in 1985.
    The annual average monthly rise in retail prices was 2.7
pct in 1986 from 1985, INSEE added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21768" NEWID="17145">
<DATE>24-APR-1987 13:34:27.87</DATE>
<TOPICS><D>ship</D><D>grain</D><D>corn</D></TOPICS>
<PLACES><D>usa</D><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1936&#31;reute
u f BC-SOVIET-CORN-CARGO-REJ   04-24 0121</UNKNOWN>
<TEXT>&#2;
<TITLE>SOVIET CORN CARGO REJECTED, RELOADING AT CHICAGO</TITLE>
<DATELINE>    CHICAGO, April 24 - </DATELINE><BODY>A cargo of U.S. corn for the Soviet
Union was rejected and forced to be unloaded at a Chicago
export elevator earlier this week after it failed to make
grade, with the British vessel Broompark now being reloaded, an
elevator spokesman said.
    The first attempt to load the ship failed when the
percentage of broken kernels proved to be higher than contract
specifications, he said.
    The Soviets traditionally refuse to take sub-grade grain at
a price discount, as is the practice with many other importing
nations, he added.
    The official estimated the reloading of the vessel with
about 700,000 tonnes of corn may be completed by Tuesday, April
28.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21769" NEWID="17146">
<DATE>24-APR-1987 13:39:19.71</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1947&#31;reute
u f BC-HENLEY-GROUP-&lt;HENG.O>   04-24 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>HENLEY GROUP &lt;HENG.O> DID NOT HIRE BEAR STEARNS</TITLE>
<DATELINE>    New York, April 24 - </DATELINE><BODY>Henley Group said it has not hired
Bear Stearns and Co in connection with Santa Fe Southern
Pacific Corp &lt;SFX>, a Henley spokesman said.
    Traders have said in the past two sessions that it seems
Bear Stearns was restricted in both Santa Fe Southern and
Henley, implying that Bear Stearns may be helping Henley
examine the possibility of taking over Santa Fe.
    "We don't have them looking into anything, including Santa
Fe," a spokesman said, in response to questions from Reuters.
    Bear Stearns has declined comment.
    Traders said there was also speculation that Henley was a
buyer of Santa Fe stock in the last two days.
    Henley said it does not comment on whether it is buying or
selling stock in a company.
    Separately, Wall Street sources said the reports of Henley
acquiring Santa Fe stock in recent sessions are untrue. Henley
has told the securities and exchange commission that it bought
about five pct of Santa Fe stock last year.
    Santa Fe was up earlier by more than two points. It was
trading at 42, up 1/8.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21770" NEWID="17147">
<DATE>24-APR-1987 13:44:27.47</DATE>
<TOPICS><D>interest</D><D>money-fx</D></TOPICS>
<PLACES><D>finland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1965&#31;reute
r f BC-BANK-OF-FINLAND-EASES   04-24 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF FINLAND EASES REFERENCE RATE RESTRICTIONS</TITLE>
<DATELINE>    HELSINKI, April 24 - </DATELINE><BODY>The Bank of Finland said it was
reducing restrictions on the use of money market rates as
reference rates for loans.
    The Bank would start quoting money market rates referred to
as HELIBOR (Helsinki Interbank Offered Rate). Banks may
henceforth use these as reference rates in their lending, it
said.
    From May 1 the banks would be allowed, without special
central bank approval, to use as a reference rate not only its
base rate but also other Bank of Finland rates or the official
money market rate used in market transactions.
    A derivative of these could also be used, the statement
said. But housing loans would be excepted and their lending
rate would, as formerly, be linked directly or indirectly to
the Bank of Finland's base rate.
    The new guidelines involve mainly two changes. Money market
rates in future would be used as reference rates for loans with
a maturity of over five years and the introduction of a new
reference rate would no longer require central bank approval.
    The decision was made as a continuation of the central
bank's process of liberalisation, it said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21771" NEWID="17148">
<DATE>24-APR-1987 13:45:44.12</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1970&#31;reute
r f BC-ROCKWELL-SIGNS-AGREEM   04-24 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>ROCKWELL SIGNS AGREEMENT ON VALEO SUBSIDIARY</TITLE>
<DATELINE>    PARIS, April 24 - </DATELINE><BODY>Rockwell International Corp &lt;ROK.N> has
signed an agreement leading to the takeover of Valeo &lt;VLOF.PA>
subsidiary &lt;SO.M.A. Europe Transmissions>, Valeo said in a
statement.
    The company said Rockwell had agreed to handle Soma sales
around the world and to help Valeo in restructuring its
loss-making subsidiary.
    It also said Rockwell, an American high-technology
engineering group with interests in aerospace and the car
industry, would take control of Soma at the beginning of 1988
if it obtained approval from the French government.
    Soma, a fully owned subsidiary of Valeo, makes axles and
gear boxes for heavy vehicles and machinery mostly used in the
construction business. A Valeo spokesman said &lt;S.E.S.M.>, a
subsidiary of Soma specialized in equipment for military
vehicles, had been excluded from the agreement with Rockwell.
     He said no details were available on the eventual amount
Rockwell would pay for Soma.
    Vehicle components maker Valeo was the object of a takeover
bid in 1986 by Italian group &lt;Compagnie Industriali Riunite>
(CIR), controlled by Olivetti chairman Carlo de Benedetti.
    The French government limited CIR's holding in Valeo to
less than 30 pct in June 1986, after classifying Valeo as a
defence contractor. Today CIR has effective control of Valeo
through its French holding company &lt;Compagnies Europeenes
Reunies>, Cerus, which has a 18.24 pct stake in Valeo.
    Since CIR won control of the French group in June, Valeo
has pursued a policy of concentrating its activities on the car
industry. The company spokesman said Valeo had sold off all its
construction interests in 1986 but declined to comment on the
amount of the sales.
    The spokesman said figures were not available on Soma's
losses in 1986 but said the company had registered a turnover
of 546 mln francs. Valeo recorded a consolidated net loss of
388 mln francs in 1986 on a turnover of 12.1 billion francs.
    REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21772" NEWID="17149">
<DATE>24-APR-1987 13:53:22.43</DATE>
<TOPICS><D>silver</D></TOPICS>
<PLACES><D>mexico</D><D>peru</D></PLACES>
<PEOPLE><D>del-mazo</D><D>mancera-aguayo</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f1997&#31;reute
b f BC-no-mexican-reaction-t   04-24 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>MEXICO YET TO REPLY TO PERU'S SILVER INVITATION</TITLE>
<DATELINE>    MEXICO CITY, April 24 - </DATELINE><BODY>Mexico's minister of energy and
mines, Alfredo del Mazo, has yet to reply to a Peruvian
invitation for ministerial-level talks on bilateral cooperation
in silver marketing, a ministry spokesman said.
    Peruvian officials said they extended the invitation
earlier this week and that it was possible the talks could be
held within the next 15 days.
    Meanwhile, a Banco de Mexico spokesman confirmed that
Mexican central bank head Miguel Mancera Aguayo held private
talks here yesterday with the president of the Peruvian central
bank.
    The spokesman said the talks were in line with mutual
consultation agreements made during Peruvian President Alan
Garcia's visit to Mexico in march.
    Press reports citing diplomatic sources at the meeting said
the two central bank heads discussed means of coordinating
actions in the silver market.
    Mexico is the world's leading silver produer. It produced
about 73.9 mln troy ounces in 1986, according to preliminary
government figures.
    Peru, the second biggest producer of the precious metal,
earlier this week froze new silver sales in an effort to
stabilize silver prices. It produced 57 mln troy ounces in
1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21773" NEWID="17150">
<DATE>24-APR-1987 13:55:30.42</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2002&#31;reute
d f BC-WURLITZER-&lt;WUR>-ELECT   04-24 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>WURLITZER &lt;WUR> ELECTS NEW TOP OFFICERS</TITLE>
<DATELINE>    DEKALB, ILL., April 24 - </DATELINE><BODY>Wurlitzer Co said George Howell
was elected vice chairman, succeeding Sid Weiss who was named
chief executive officer.
    Weiss became vice chairman in December 1986. Weiss and
Leonard Friedman, Wurlitzer chairman, led Wurlitzer Investments
Ltd, a Texas partnership which purchased a controlling interest
in Wurlitzer.
    In other action, Frank Rubury was elected president and
chief operating officer of Wurlitzer, effective April 27.
Rubury was formerly president of Horsman Inc, a subsidiary of
Drew Industries Inc &lt;DRWI.O>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21774" NEWID="17151">
<DATE>24-APR-1987 13:58:51.21</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2007&#31;reute
d f BC-GLENMEDE-TRUST-TO-SEL   04-24 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>GLENMEDE TRUST TO SELL PART OF SUN &lt;SUN> STOCK</TITLE>
<DATELINE>    RADNOR, Pa., April 24 - </DATELINE><BODY>&lt;Glenmede Trust Co> and Sun Co said
that Glenmede plans to sell a portion of its charitable
holdings of Sun common stock, of which it holds 28 pct of the
outstanding shares.
    They said the sales, to be made in the market subject to
prevailing market conditions, will not exceed 2.5 pct of Sun's
107.7 mln outstanding common shares.
    Glenmede, a trustee for various trusts and estates, said
the sales are part of an ongoing plan to maintain its Sun
holdings at levels roughly equal to those prior to the Sun
stock buyback program that began in 1980.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21775" NEWID="17152">
<DATE>24-APR-1987 14:02:59.88</DATE>
<TOPICS><D>gnp</D></TOPICS>
<PLACES><D>algeria</D><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2020&#31;reute
r f BC-ALGERIAN-MINISTER-RUL   04-24 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>ALGERIAN MINISTER RULES OUT DEBT RESCHEDULING</TITLE>
<DATELINE>    GENEVA, April 24 - </DATELINE><BODY>Algeria's Finance Minister Abdelaziz
Khelaf said no rescheduling of his country's foreign debt is
envisaged.
    Khelaf, who came to Geneva for a meeting organised by the
World Economic Forum, told Reuters Algerian debt amounted to
about one third of the country's Gross National Product of 55
billion dlrs.
    France and Algeria yesterday finalised two agreements
giving Algeria a total 580 mln dlrs in credits to finance trade
and projects.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21776" NEWID="17153">
<DATE>24-APR-1987 14:10:37.53</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2041&#31;reute
u f BC-VOLKSWAGEN-TO-IDLE-U.   04-24 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>VOLKSWAGEN TO IDLE U.S. PLANT, 1,650 WORKERS</TITLE>
<DATELINE>    NEW STANTON, Pa., April 24 - </DATELINE><BODY>Volkswagen of America said it
will shut down its U.S. car assembly plant for two weeks and
idle 1,650 workers.
    The wholly owned subsidiary of Volkswagen A.G. said the
facility will be closed for two weeks starting today to adjust
inventories.
    The 1,650 hourly workers will be laid off until May 11.
    Volkswagen's sales of U.S.-made cars this year have dropped
sharply below last year's figures, a spokeswoman said.
    So far this year, sales are down nearly 40 pct compared to
last year. The U.S. company has sold a total of 13,218
U.S.-made cars so far this year, down from 21,943 during the
same period last year.
    In its most recent 10-day sales period, April 11-20, the
company sold 30.7 pct fewer cars. It sold a total of 1,167 cars
during the period against 1,683 in the same 1986 period.
    The spokeswoman also said inventories of Volkswagen's cars
are running as high as 335 day's supply as of April 20, well
above the inventory level of 50 to 60 days supply considered
acceptable by the U.S. car industry. The highest inventories
are on the company's new "GT" model.
    Stocks of Volkswagen's 16-valve "GTI" model are 164 days'
supply. Inventory levels for other Volkswagen models are as
follows--"Golf" gas-powered-87 days, "Golf" diesel-powered 20
days, regular "GTI"-83 days.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21777" NEWID="17154">
<DATE>24-APR-1987 14:12:13.79</DATE>
<TOPICS><D>silver</D></TOPICS>
<PLACES><D>peru</D><D>mexico</D></PLACES>
<PEOPLE><D>mancera-aguayo</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f2046&#31;reute
u f BC-peru-says-it-held-tal   04-24 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>PERU SAYS IT HELD TALKS WITH MEXICO ON SILVER</TITLE>
<DATELINE>    LIMA, April 24 - </DATELINE><BODY>The heads of the central banks of Mexico
and Peru have met in Mexico city to coordinate actions aimed at
consolidating the upward trend in the price of silver, the
official newspaper El Peruano said.
    It said that Peruvian central bank president Leonel
Figueroa met yesterday with the president of the bank of
Mexico, Miguel Mancera Aguayo.
   Peru, which froze new sales of refined silver and its
government-marketed silver ore on tuesday, is the world's
second biggest producer of the precious metal. Mexico is the
largest producer.
    Together, the two nations account for nearly 40 pct of the
world's silver output, the official paper El Peruano said.
    Peru adopted the move on tuesday in an bid to stablilise
the price of silver bullion, which has climbed in a month from
about 5.70 dlrs an ounce to over 9.00 dlrs an ounce today.
    After the meeting of the Peruvian and Mexican central bank
heads, it was understood that Mexico might diversify the use of
silver, El Peruano said.
    It said that Mexico and Peru did not want to speculate with
the price of silver. Instead, they aimed to see that the price
of the precious metal recuperated to adequate levels.
    El peruano did not specify what these levels were.
    El peruano quoted energy and mines minister Wilfredo Huayta
as saying that Peru did not want to participate in speculative
operations with silver.
    He said the government's aim was to avoid a "brutal fall" in
the price of silver.
    Figueroa's office confirmed the Peruvian central bank
president had travelled to mexico city. It was not certain if
he had returned to Lima by midday today.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21778" NEWID="17155">
<DATE>24-APR-1987 14:15:16.65</DATE>
<TOPICS><D>iron-steel</D></TOPICS>
<PLACES><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f2051&#31;reute
d f BC-SPAIN-APPROVES-AID-FU   04-24 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>SPAIN APPROVES AID FUNDS FOR STEEL INDUSTRY</TITLE>
<DATELINE>    MADRID, April 24 - </DATELINE><BODY>The Spanish cabinet agreed a 223.33
billion peseta aid package for the steel industry to restore
the sector to profitability by 1989, Industry Minister Luis
Carlos Croissier said.
    He told reporters at a news conference the money would be
shared among four state and privately-owned mills, which now
operate at a loss.
    The funds will be used to help modernise the industry,
increase productivity and cut production to 17.5 mln tonnes a
year from a current capacity of 18.2 mln tonnes.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21779" NEWID="17156">
<DATE>24-APR-1987 14:18:29.22</DATE>
<TOPICS><D>money-supply</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2059&#31;reute
u f BC-U.S.-M-1-MONEY-SUPPLY   04-24 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. M-1 MONEY SUPPLY SURGE EXPECTED NEXT WEEK</TITLE>
<DATELINE>    NEW YORK, April 24 - </DATELINE><BODY>The U.S. M-1 money supply number to be
announced next Thursday is expected to show one of the largest
one-week increases in history, analysts said.
    The average forecast of economists polled by Reuters calls
for a 17.7 billion dlr M-1 jump for the week ended April 20.
Estimates of the increase range from five billion dlrs to 26.3
billion dlrs.
    "The M-1 surge will be very temporary. About two thirds of
the increase is likely to be washed out in the following week,"
said Kim Rupert, an economist at Money Market Services Inc.
    Rupert said a huge increase in M-1 for the April 20 week is
implied by very strong deposit survey data and by an
unexpectedly sharp gain in required reserves in Federal Reserve
data released Thursday.
    Those numbers, covering the two-week bank statement period
that ended on April 22, show a 2.5 billion dlr jump in basic
required reserves. Economists said this largely reflected the
parking in checking accounts of the proceeds from stock market
sales and mutual fund redemptions to pay annual income taxes.
Fed seasonal adjustments do not adequately compensate for these
and other special factors.
    Analysts noted that income tax refunds from the Treasury
also appear to be coming earlier than usual.
    They also are not adequately compensated for by the Fed's
seasonal adjustment factors to the money supply.
    The Federal Reserve is no longer targeting M-1 because the
link between M-1 and economic growth has largely been severed
by financial market innovation and deregulation.
    As such, there is likely to be little financial market
reaction to the huge M-1 increase that is expected to be
announced next week.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21780" NEWID="17157">
<DATE>24-APR-1987 14:20:24.06</DATE>
<TOPICS><D>gnp</D></TOPICS>
<PLACES><D>algeria</D><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f2069&#31;reute
r f BC-ALGERIAN-MINISTER-RUL   04-24 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>ALGERIAN MINISTER RULES OUT DEBT RESCHEDULING</TITLE>
<DATELINE>    GENEVA, April 24 - </DATELINE><BODY>Algeria's Finance Minister Abdelaziz
Khelaf said no rescheduling of his country's foreign debt is
envisaged.
    Khelaf, who came to Geneva for a meeting organised by the
Word Economic Forum, told Reuters Algerian debt amounted to
about one third of the country's Gross National Product of 55
billion dlrs.
    France and Algeria yesterday finalised two agreements
giving Algeria a total 580 mln dlrs in credits to finance trade
and projects.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21781" NEWID="17158">
<DATE>24-APR-1987 14:22:34.20</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2073&#31;reute
u f BC-BOEING-&lt;BA>-GETS-ORDE   04-24 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>BOEING &lt;BA> GETS ORDERS TOTALING 543 MLN DLRS</TITLE>
<DATELINE>    SEATTLE, April 24 - </DATELINE><BODY>Boeing Co said it confirmed orders
totaling 543 mln dlrs for 14 jet aircraft from four customers.
    The company said Delta Air Lines &lt;DAL> has increased its
orders for the 767-300 jetliner by six, bringing its total
commitment for the longer-fuselage plane to 15, with a total
value of more than 300 mln dlrs.
   
    Boeing said &lt;Lufthansa German Airlines> will take delivery
of five more 737-300 jetliners worth about 130 mln dlrs,
bringing its orders for the twinjets to 15.
    &lt;Quantas> of Australia has ordered its first 767-300 with
extended range capability for about 75 mln dlrs, Boeing said.
    Boeing said &lt;Air France> has placed firm orders for two
additional 737-200 twinjets valued at 38 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21782" NEWID="17159">
<DATE>24-APR-1987 14:24:06.66</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2075&#31;reute
u f BC-cominco   04-24 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>COMINCO &lt;CLT> TO CLOSE B.C. FERTILIZER PLANT</TITLE>
<DATELINE>    VANCOUVER, British Columbia, April 24 - </DATELINE><BODY>Cominco Ltd said it
will permanently close its fertilizer plant at Kimberley,
British Columbia, in the latter half of May and 140 employees
will lose their jobs.
    It said the operation has been losing money for several
years, and lost seven mln dlrs in 1986.
    Cominco said the decision to close the plant was based on
high production costs, anticipated continued losses and excess
capacity for phosphate-based fertilizers. The plant produced
98,500 metric tonnes of ammonium phosphate fertilizer and
190,000 tonnes of sulphuric acid in 1986.
                                          
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21783" NEWID="17160">
<DATE>24-APR-1987 14:30:44.71</DATE>
<TOPICS></TOPICS>
<PLACES><D>nigeria</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T
&#22;&#22;&#1;f2086&#31;reute
d f AM-WAGES   04-24 0124</UNKNOWN>
<TEXT>&#2;
<TITLE>NIGERIA REVERSES POLICY, RESTORES MINIMUM WAGE</TITLE>
<DATELINE>    LAGOS, April 24 - </DATELINE><BODY>Nigeria's military government retreated
in the face of hostile public opinion and restored the minimum
wage of 125 naira (about 32 dlrs) a month.
    It revoked an order made only last December which exempted
companies with fewer than 500 employees -- the vast majority --
from paying the minimum wage.
    Labour Minister Brigadier Ike Nwachukwu, announcing the
decision in Lagos today, said it was made out of respect for
public opinion and to maintain industrial harmony.
    Nwachukwu said the thinking behind the exemption was in
line with Nigeria's far-reaching structural adjustment program
and the measure was intended to promote small-scale industry
and agriculture.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21784" NEWID="17161">
<DATE>24-APR-1987 14:36:36.73</DATE>
<TOPICS><D>crude</D><D>nat-gas</D><D>gas</D><D>fuel</D><D>cpi</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y RM
&#22;&#22;&#1;f2109&#31;reute
u f BC-/U.S.-ENERGY-COSTS-RO   04-24 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. ENERGY COSTS ROSE IN MARCH BY 1.0 PCT</TITLE>
<DATELINE>    WASHINGTON, April 24 - </DATELINE><BODY>Consumer energy costs rose 1.0 pct
in March following a moderate rise last month, the Labor
Department said.
    The March increase in the overall energy costs, including
petroleum, coal and natural gas, followed a 3.0 pct rise in
January and a 1.9 pct rise in February, it said.
    However, energy prices were 5.6 pct below year-ago levels.
    The department's Consumer Price Index showed that the cost
of gasoline rose in March by 2.3 pct, after a 4.2 pct rise in
February.
    Gasoline prices were nonetheless 5.9 pct below their levels
as of March 1986.
    Also, the category including fuel oil, coal and bottled gas
rose in March by 1.4 pct, putting it 9.0 pct under the year-ago
figure.
    The index also showed that natural gas and electricity were
unchanged last month, but down 3.1 pct from the March 1986
figure, the department said.
    The index has been updated to reflect 1982-84 consumption
patterns. Previously, the index was based on 1972-73 patterns.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21785" NEWID="17162">
<DATE>24-APR-1987 14:37:55.90</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2113&#31;reute
r f BC-INTERSTATE-(I)-CHIEF   04-24 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>INTERSTATE (I) CHIEF DOUBTFUL ON BRAZIL DEBT</TITLE>
<DATELINE>    LOS ANGELES, April 24 - </DATELINE><BODY>First Interstate Bank Corp Chairman
Joseph Pinola said he was not optimistic about the prospects
for a resolution of the Brazilian debt situation during the
current year.
    "I am not as optimistic personally on a resolution as some
others are," Pinola told reporters after the company's annual
meeting.
    He said it did not seem likely that the Brazilian
government has the will to take the steps necessary to resolve
their domestic economic difficulties.
   
    In February, Brazil suspended interest payment on about 68
bln dlrs of its commercial debt. Many U.S. banks have placed
their Brazilian loans on non-accrual status as a result of this
action, but they also expressed confidence that Brazil and U.S.
lenders could resolve the situation before the end of the year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21786" NEWID="17163">
<DATE>24-APR-1987 14:44:10.61</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2125&#31;reute
u f BC-FMC-&lt;FMC>-TO-SELL-STA   04-24 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>FMC &lt;FMC> TO SELL STAKE IN GOLD PROPERTIES</TITLE>
<DATELINE>    CHICAGO, April 24 - </DATELINE><BODY>FMC Corp said it will consider selling
to the public a minority interest in a subsidiary that will
hold the company's North American gold and precious metals
properties and operations.
    FMC said its board also authorized the transfer of the
metals properties to the newly formed unit.
    An unnamed investment advisor has been retained to help in
evaluating alternatives on the properties, which consist of a
wholly owned gold mine at Paradise Peak, Nev., a 30 pct
interest in a gold mine at Jerritt Canyon, Nev., and a 28 pct
interest in a gold mine near Austin, Nev.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21787" NEWID="17164">
<DATE>24-APR-1987 15:00:00.68</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A
&#22;&#22;&#1;f2172&#31;reute
r f BC-interstate-(I)-spent   04-24 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>INTERSTATE (I) SPENT 3.5 MLN ON TAKEOVER BID</TITLE>
<DATELINE>    LOS ANGELES, April 24 - </DATELINE><BODY>First Interstate Bank Corp spent
about 3.5 mln dlrs on its attempted takeover of BankAmerica
Corp, First Interstate Chairman Joseph Pinola said.
    In response to a shareholder's question following the
company's annual meeting, Pinola also said that figure could
ultimately be lower depending on the outcome of negotiations
with the firm's insurers.
    Pinola explained that the company's insurance rates went up
"substantially" after last year's attempt to acquire BankAmerica
Corp.
    In February, First Interstate withdrew its 3.20 bln dlr bid
for BankAmerica and said it was no longer interested in the
acquisition because of BankAmerica's divestitures.
    During the takeover battle, BankAmerica sold its Italian
banking operations and its profitable Charles Schwab and Co
discount brokerage firm.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21788" NEWID="17165">
<DATE>24-APR-1987 15:09:10.69</DATE>
<TOPICS><D>f-cattle</D><D>livestock</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C L
&#22;&#22;&#1;f2217&#31;reute
b f BC-pig-crop-cme-reaction   04-24 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>CATTLE ON FEED REPORT CALLED NEGATIVE</TITLE>
<DATELINE>    CHICAGO, April 24 - </DATELINE><BODY>Chicago Mercantile Exchange floor
traders' immediate comments on the 13-state USDA quarterly
cattle on feed report were negative.
    Traders said that placements on feed and total on-feed
numbers were at the high end of expectations and will likely
weigh on futures tomorrow.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21789" NEWID="17166">
<DATE>24-APR-1987 15:14:39.20</DATE>
<TOPICS><D>lumber</D></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2241&#31;reute
u f BC-WALL-STREET-STOCKS/PA   04-24 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>WALL STREET STOCKS/PAPER AND LUMBER PRODUCERS</TITLE>
<AUTHOR>    By Gary Seidman, Reuters</AUTHOR>
<DATELINE>    NEW YORK, April 24 - </DATELINE><BODY>Stocks of paper and lumber producers
tumbled as a rumor spread that the Japanese may impose tariffs
on wood and paper products, analysts and industry officials
said. But, they said, logic and their own research do not
support the rumors.
    "Apparently a rumor is floating around trading circles
about the Japanese doing something about tariffs on wood and
paper products," Lowell Moholt, director of investor relations
at Weyerhaeuser Co said. "And we can only assume that this
rumor is one of the factors hurting the stocks."
    "I have talked to many people, some with government
contacts, and most of them have been mystified by the rumor,"
said Moholt.
    Nevertheless, International Paper &lt;IP> fell 4-3/8 to
95-1/2, Weyerhaeuser Co &lt;WY> two to 51-1/2, Potlatch Corp &lt;PCH>
3-1/2 to 69, Great Northern Nekoosa &lt;GNN> 3-1/8 to 85-1/2,
Temple Inland Inc &lt;TIN> 2-3/4 to 57-1/4, Boise Cascade 2-3/8 to
74-3/8, Georgia Pacific Corp &lt;GP> 1-1/2 to 43-3/4, Champion
International Corp &lt;CHA> 1-3/8 to 36-1/2 and Pope and Talbot
Inc &lt;POP> 1/2 to 36.
    "My sources told me there is no grain of truth to the
Japanese imposing tariffs," Sherman Chao, analyst with Salomon
Inc said. "The realities and the logic do not support these
rumors," he said.
    "The Japanese have a lot more to lose by imposing tariffs.
They are running a trade surplus," he said, "and if they
started a trade war it would hurt them more than the U.S."
    Chao said that U.S. producers annually export about two
billion dlrs of forest products to Japan. "Three quarters of
that is in the form of wood products, meaning logs, wood chips
and lumber, and the balance is paper products."
    "They (the Japanese) don't have any domestic sources to
make up for the restrictions," Chao said, "so it's not like
they would put a tariff to protect their own industry."
    "The rumors do no make economic sense, and I am skeptical,"
analyst Mark Rogers of Prudential Bache Securities said, "but
politics has been known to override economic concerns."
     Speculation has surfaced on Wall Street recently that the
Japanese would take action to retaliate against tariffs the
Reagan Administration imposed last Friday on Japanese
electronics products.
    Rogers said the rumor fueled the profit taking that was
already occuring in these stocks. "In a nervous market, people
tend to take profits, and they tend to take profits that have
been the biggest gainers lately."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21790" NEWID="17167">
<DATE>24-APR-1987 15:16:07.27</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>usa</D><D>algeria</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2245&#31;reute
u f BC-USDA-ANNOUNCES-EXPORT   04-24 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>USDA ANNOUNCES EXPORT BONUS WHEAT TO ALGERIA</TITLE>
<DATELINE>    WASHINGTON, April 24 - </DATELINE><BODY>The U.S. Agriculture Department
announced it accepted three bids from two exporters for export
bonuses to cover sales of 54,000 tonnes of durum wheat to
Algeria.
    USDA said the bonuses awarded were 42.45 dlrs per tonne, to
be paid in the form of commodities from CCC inventory.
    The bonus awards were made to Cam USA Inc (36,000 tonnes)
and Corprostate Inc (18,000 tonnes).
    Shipment is scheduled for June 1-30, 1987.
    An additional 64,000 tonnes of durum wheat are still
available to Algeria under the export enhancement program.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21791" NEWID="17168">
<DATE>24-APR-1987 15:56:02.48</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2370&#31;reute
r f BC-MOLECULAR-GENETICS-&lt;M   04-24 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>MOLECULAR GENETICS &lt;MOGN.O> IN MERGER TALKS</TITLE>
<DATELINE>    MINNETONKA, Minn., April 24 - </DATELINE><BODY>Molecular Genetics Inc said
it has held preliminary discussions with a privately-held
company convening a possible acquisition.
    "No agreement in principle has been reached, and serious
negotiations on material terms have not begun," said Robert
Auritt, acting co-chief executive officer and co-president.
    Molecular said it would have no further comment on the
matter until an agreement in principle is reached or
discussions are terminated.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21792" NEWID="17169">
<DATE>24-APR-1987 16:00:35.93</DATE>
<TOPICS><D>money-supply</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2378&#31;reute
u f BC-TREASURY-BALANCES-AT   04-24 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>TREASURY BALANCES AT FED FELL ON APRIL 23</TITLE>
<DATELINE>    WASHINGTON, April 24 - </DATELINE><BODY>Treasury balances at the Federal
Reserve fell on April 23 to 6.211 billion dlrs from 9.431
billion dlrs on the previous business day, the Treasury said in
its latest budget statement.
    Balances in tax and loan note accounts rose to 25.154
billion dlrs from 24.953 billion dlrs on the same respective
days.
    The Treasury's operating cash balance totaled 31.366
billion dlrs on April 23 compared with 34.385 billion dlrs on
April 22.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21793" NEWID="17170">
<DATE>24-APR-1987 16:02:11.01</DATE>
<TOPICS><D>ipi</D><D>trade</D></TOPICS>
<PLACES><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2387&#31;reute
u f AM-SOVIET-ECONOMY   04-24 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>SOVIETS SAY 1987 ECONOMIC RESULTS UNSATISFACTORY</TITLE>
<DATELINE>    MOSCOW, April 24 - </DATELINE><BODY>The Soviet government said economic
results achieved in the first three months of the year were
unsatisfactory, the official news agency Tass said.
    Soviet industrial production from January to March grew by
2.5 per cent compared with the same period last year, but fell
short of its target by 0.8 percent, official statistics showed.
    "The Council of Ministers (government) emphasised that the
results did not meet the Communist Party's exacting demands for
the radical reconstruction of the economy," Tass said. "The first
quarter economic results were deemed unsatisfactory."
    The government said poor economic results last January,
when industrial production was 0.1 lower than in January 1986,
had been overcome to a considerable extent in March, but the
negative effects had not been completely eliminated.
     It singled out failings in the engineering, chemical and
timber industries, as well as light industry.
    Growth in the machine-building sector, a priority in
Kremlin plans for economic renewal, also fell short of target
by 4.2 per cent, with below-level output in nearly all branches
at a cost of 723 million roubles (1.08 billion dollars) in
undelivered products.
    The sales volume of consumer goods fell 2.7 per cent short
of planned growth, with a resulting decline in income to the
state, the figures showed.
    Foreign trade turnover totalled 27.5 billion roubles (41.25
billion dollars), or 4.8 billion roubles (7.2 billion dollars)
less than in the same period last year.
    The power industry, however, performed well. Output of oil,
electricity, gas and coal were all above plan.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21794" NEWID="17171">
<DATE>24-APR-1987 16:17:09.32</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2430&#31;reute
r f BC-CARMEL-&lt;KML>-HOLDER-S   04-24 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>CARMEL &lt;KML> HOLDER SELLS SHARES</TITLE>
<DATELINE>    NEW YORK, April 24 - </DATELINE><BODY>Carmel Container Systems Ltd said
Mikhal Industrial and Development Management Ltd sold 202,500
shares to a group of private investors.
    After the sale, Mikhal retains a 49 pct ownership of Carmel
Plaro Holding Ltd, which owns 51 pct of Carmel Container
SYstems' outstanding stock.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21795" NEWID="17172">
<DATE>24-APR-1987 16:18:20.46</DATE>
<TOPICS><D>gnp</D><D>interest</D></TOPICS>
<PLACES><D>usa</D><D>uk</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2432&#31;reute
r f BC-BARCLAYS-SAYS-PROSPEC   04-24 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>BARCLAYS SAYS PROSPECTS BRIGHT FOR UK ECONOMY</TITLE>
<DATELINE>    NEW YORK, April 24 - </DATELINE><BODY>Britain can look forward to fairly
strong economic growth, falling interest rates and firm
Sterling, Barclays Bank Plc chairman-elect John Quinton said.
    "We should see a reasonable decline in interest rates in
the next few months, but not a great one and not a rapid one,"
Quinton told a press luncheon.
    He said that whereas the British economy is growing at
about three pct, he expects only "minor" growth for the western
industrialized world as a whole. But, unless there is a major
move toward protectionism, there should be no need to worry
about a recession in the next two or three years.
    Quinton said much will depend on the resolution of trade
disputed between the United States and Japan.
    He said Tokyo, in resisting the appreciation of the yen,
had been "holding back the laws of economics." But if the
dollar has to fall further to reduce Japan's trade surplus, he
said he hoped the fall would be slow rather than rapid.
    Quinton said it will be difficult for the City of London to
stave off the creation of a powerful securities industry
regulatory body along the lines of the Securities and Exchange
Commission in the U.S., especially if there are more insider
trading scandals and if the Labour Party wins the next U.K.
election.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21796" NEWID="17173">
<DATE>24-APR-1987 16:22:19.48</DATE>
<TOPICS><D>gas</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f2446&#31;reute
d f BC-U.S.-GASOLINE-SURPLUS   04-24 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. GASOLINE SURPLUS SEEN OVER NEAR TERM</TITLE>
<AUTHOR>    By SUZANNA SANBORN, Reuters</AUTHOR>
<DATELINE>    NEW YORK, April 24 - </DATELINE><BODY>Unless U.S. refiners reduce the amount
of gasoline they now produce, the oil industry will enter the
coming summer driving season with the largest surplus of motor
fuel since 1984, oil analysts and traders said.
    "They key question is how much gasoline refiners produce in
the coming weeks," said Larry Goldstein of Petroleum Industry
Research Inc. "If refiners cut output and demand turns upward,
gasoline stocks could begin to draw, and the surplus could
potentially turn around in four to eight weeks," said
Goldstein.
    The American Petroleum Institute said U.S. gasoline stocks
for the week ended April 17 are 37.6 mln barrels above last
year's levels, and analysts said they don't believe the
expected one to two pct rise in demand will take care of the
surplus before the start of the summer driving season, which
begins Memorial Day weekend.
    The API said the last time stocks were this high was in
1984, when there was a 27 mln barrel excess. Oil traders said
that the surplus held throughout the summer of 1984, depressing
prices for the motor fuel.
    Over the past several weeks, analysts said they expected
refiners to reduce production because there was no profit in
continued production of gasoline due to the surplus. However,
refineries continued to operate at higher levels, they said.
    U.S. refineries have been running at about 78.8 pct of
capacity during March and April this year, compared to 77.5 at
this time last year, API statistics show.
    Because of the current excess in stocks, one planner for a
major oil company said he believed that most companies are
contemplating cutting refinery throughput over the near term.
    He said some refiners appear to be selling less
aggressively in order to have product on hand to meet the
expected rise in demand this summer.
    Goldstein said that other factors, such as higher speed
limits, the gasoline lead phasedown, and possible new
restrictions on gasoline vapor pressure could tighten the
supply situation this summer.
    However, a planner at another major oil company said that
although large inventories are dampening the price outlook for
gasoline this season, he does not expect refiners to cut output
soon.
    That oil company planner said high crude oil runs reduce
the refiner's average costs, making the incremental barrel of
gasoline cheaper to produce.
    Most analysts expect a slight upturn this summer over the
summer of 1986. Bo Poates, an analyst at the Energy Futures
Group Inc said he foresees demand up about one pct in the
second and third quarters of 1987.
    Chase Econometrics' Scott Jones sees gasoline demand rising
1.9 to 2.2 pct for the year, due mainly to continued low
prices.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21797" NEWID="17174">
<DATE>24-APR-1987 16:27:06.81</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2462&#31;reute
r f BC-BECOR-WESTERN-&lt;BCW>-S   04-24 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>BECOR WESTERN &lt;BCW> SETS SPECIAL MEETING DATE</TITLE>
<DATELINE>    MILWAUKEE, April 24 - </DATELINE><BODY>Becor Western Inc said it set June 4
as the date for a special meeting at which stockholders will
vote on two proposals involving the sale of its subsidiary and
the acquisition of the company.
    The previously-announced proposals call for the sale of its
aerospace operations subsidiary to &lt;Lucas Industries Inc> and
the related leveraged buyout of the company by &lt;BCW Acquisition
Co>, the company said.
    Becord said May 4 has been set as the record date for the
special meeting.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21798" NEWID="17175">
<DATE>24-APR-1987 16:28:06.65</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2468&#31;reute
d f BC-ATCOR-INC-&lt;ATCO.O>-TO   04-24 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>ATCOR INC &lt;ATCO.O> TO CONTEST ANTITRUST RULING</TITLE>
<DATELINE>    HARVEY, Ill., April 24 - </DATELINE><BODY>Atcor Inc said a Federal Court has
reinstated a 1986 jury verdict against it and in favor of
Indian Head Inc for antitrust damages of 3.8 mln dlrs before
trebling and attorneys' fees.
    The company said it will challenge the ruling by the United
States Court of Appeals for the Second Circuit which reversed a
decision of the District Court in its favor.
    The case involved charges that Atcor acted improperly in
opposing Indian Head's attempt to have its plastic electrical
conduit sanctioned by the National Fire Protection Association
under the 1981 National Electrical Code, it said.
    Atcor said the ruling by the three-judge panel of the Court
of Appeal was incorrect and "seriously questionable in light of
established Supreme Court doctrine".
    The legal avenues to be examined in an attempt to have the
ruling reversed could include filing a petition for Supreme
Court review, the company added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21799" NEWID="17176">
<DATE>24-APR-1987 16:58:05.41</DATE>
<TOPICS><D>livestock</D><D>f-cattle</D><D>pork-belly</D><D>l-cattle</D><D>carcass</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C L
&#22;&#22;&#1;f2546&#31;reute
u f BC-USDA-REPORTS-SEEN-NEG   04-24 0126</UNKNOWN>
<TEXT>&#2;
<TITLE>USDA REPORTS SEEN NEGATIVE TO LIVESTOCK FUTURES</TITLE>
<AUTHOR>    By Jerry Bieszk, Reuters</AUTHOR>
<DATELINE>    CHICAGO, April 24 - </DATELINE><BODY>Commission house livestock analysts
agreed with Chicago Mercantile Exchange floor traders in
calling today's USDA 13-state quarterly cattle on feed report
and cold storage report for pork bellies negative.
    June live cattle futures are called 0.20 to 0.50 cent lower
on Monday and back months of cattle are expected 0.50 to 1.00
cent lower. Pork bellies are expected 0.50 to 1.00 cent or more
lower, the analysts said.
    Disappointment was voiced over the placement and total on
feed figures in the cattle report. Both the quarterly section
and monthly 7-state part showed the amount placed on feed and
on feed numbers at the high end of expectations.
    The other disappearance figure of only three pct above a
year ago in the 7-state section was also vieved as negative.
Most of the early guesses predicted a much larger number for
death loss following the two winter snow storms that struck the
west in late March, they said.
    However, weight groupings were friendly to the nearby
futures and should prompt some bull spreading on the decline,
they said.
    William Arndt from Dean Witter noted that the 900 to 1,100
lb steers and 700 to 900 lb heifers were at 94 pct of a year
ago and should lend some support to June futures. However, 700
to 900 lb steers at 119 pct will weigh on August, he said.
    "The big reduction in cattle weighing over 900 lbs should
be friendly to the market for at least the next 30 to 60 days,"
AGE Clearing analyst Jerry Abbenhaus said.
    Movement of bellies into frozen storage was at the high end
of expectations and should weigh on futures tomorrow,
especially as futures prices ended weak today, they said.
    Other parts of the cold storage report were also viewed as
negative to livestock and meat futures.
    "We have a lot of poultry in storage. Even though we have
smaller pork supplies, the decline is not enough to offset the
increases in poultry," Shearson Lehman analyst Chuck Levitt
said. Also, there is more beef in storage than last year and
this was achieved on smaller production.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21800" NEWID="17177">
<DATE>24-APR-1987 16:59:14.29</DATE>
<TOPICS><D>silver</D></TOPICS>
<PLACES><D>peru</D><D>mexico</D></PLACES>
<PEOPLE><D>garcia</D><D>de-la-madrid</D><D>del-mazo</D><D>mancera-aguayo</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f2550&#31;reute
u f BC-peru-to-maintain-silv   04-24 0124</UNKNOWN>
<TEXT>&#2;
<TITLE>PERU TO MAINTAIN SILVER SALES FREEZE</TITLE>
<DATELINE>    LIMA, April 24 - </DATELINE><BODY>Energy and mines minister, Wilfredo
Huayta, said Peru would maintain its freeze on new sales of
silver until the price of the precious metal reaches "the true
value this raw material should have."
    He spoke to reporters at the presidential palace after
meeting president Alan Garcia, whom he said recently spoke by
telephone with Mexican president Miguel de la Madrid. Mexico
and Peru are the world's two largest silver producers.
    Huayta, asked what the true price level of silver should
be, repled: "well, this cannot be predicted."
    He said Minero Peru Comercial (Minpeco), the government's
minerals marketing arm, would closely study the price of silver
in the world market.
    Last Tuesday, the government instructed Minpeco, which
handles all Peru's exports of refined silver and state-
produced ore, to immediately freeze all new silver sales until
the metal's price reached equilibrium in the world market.
   Peru plans to produce 63 mln ounces of silver this year, and
is the largest producer of the precious metal after Mexico.
   Huayta said both nations' central banks would coordinate
their work, but did not elaborate how they would do this.
   Peruvian central bank president Leonel Figueroa and the head
of Bank of Mexico, Miguel Mancera Aguayo, met in Mexico City
yesterday to coordinate actions aimed at consolidating the
upward trend in the price of silver, the official newspaper El
Peruano said today.
    Huayta said his Mexican counterpart, minister of oil, mines
and parastatal industry, Alfredo del Mazo, should be in Lima on
a visit at a nearby date.
   Huayta added Peru did not want to see great fluctuations in
the price of silver, but declined to comment on what Peru would
like to see as a ceiling for the precious metal's price.
   Silver bullion climbed to nearly 10.00 dlrs an ounce today
from about 5.70 dlrs an ounce a month ago.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21801" NEWID="17178">
<DATE>24-APR-1987 17:05:54.55</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2575&#31;reute
r f BC-ALLEGHENY   04-24 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>GABELLI GROUP LIFTS ALLEGHENY INT'L &lt;AG> STAKE</TITLE>
<DATELINE>    WASHINGTON, April 24 - </DATELINE><BODY>An investor group led by New York
money manager Mario Gabelli said it raised its stake in
Allegheny International to the equivalent of 1,026,261 shares,
or 9.4 pct of the total, from 884,061 shares, or 8.2 pct.
    In a filing with the Securities and Exchange Commission,
Gabelli and companies he controls said they bought a total of
142,200 Allegheny common shares between March 30 and April 22
at prices ranging from 24.125 to 24.875 dlrs a share.
    The stake, which includes some 11.25 dlr cumulative
preferred stock, was bought solely for investment purposes and
not to seek control of the company, the group said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21802" NEWID="17179">
<DATE>24-APR-1987 17:06:04.79</DATE>
<TOPICS><D>grain</D><D>wheat</D><D>rice</D><D>cotton</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f2576&#31;reute
d f BC-USDA-SEEKING-COMMENTS   04-24 0123</UNKNOWN>
<TEXT>&#2;
<TITLE>USDA SEEKING COMMENTS ON 1988 FARM PROGRAMS</TITLE>
<DATELINE>    WASHINGTON, April 24 - </DATELINE><BODY>The U.S. Agriculture Department is
seeking comments on common provisions of the 1988 wheat,
feedgrains, cotton and rice programs.
    It said many program provisions are common to all the
commodity programs and decisions made in regard to one will
likely apply to other program crops.
    It asked for specific comments on the percentage reduction
for acreage limitation requirements under the wheat program,
the loan and purchase level, and whether a marketing loan, the
inventory reduction program and related provisions
should be implemented.
    The percentage acreage reduction of between 20 and 30 pct
must be announced no later than June 1, 1987 for wheat, it
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21803" NEWID="17180">
<DATE>24-APR-1987 17:06:40.68</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM F A
&#22;&#22;&#1;f2578&#31;reute
u f BC-BRAZIL-TRADE-SURPLUS   04-24 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL TRADE SURPLUS FALLS SHARPLY IN MARCH</TITLE>
<DATELINE>    RIO DE JANEIRO, APRIL 24 - </DATELINE><BODY>Brazil's trade surplus in March
totalled 136 mln dlrs, down from 1.13 billion dlrs in the same
month last year, the official Banco do Brasil announced.
    In a news conference, the director of the bank's Foreign
Trade Department (Cacex), Roberto Fendt, attributed March's 
weak performance to labour strikes.
    March exports totalled 1.43 billion dlrs, against 1.53
billion dlrs in February, and 2.16 billion dlrs in March 1986.
    March imports amounted to 1.29 billion dlrs compared to
1.27 billion dlrs in February and 1.02 billion dlrs in March
1986.
    Fendt said coffee earnings were up to 220 mln dlrs in March
from 110 mln dlrs in February, while oil derivatives were down
to 54 mln dlrs from 58 mln dlrs in February.
    He said that although the March results were considerably
lower than the same month last year, the government's target of
an eight billion dlr surplus for 1987 should be achieved. The
January-March trade surplus totalled 526 mln dlrs, below the
same period last year, which reached 2.46 billion dlrs.
    Asked to explain the reason for his optimism, Fendt said
the trade surplus should reach one billion dlrs in each of the
last six months of the year.
    Even though results in the exports of steel, shoes and
frozen concentrated orange juice were weaker compared to
February, Fendt said this was not an indication that the United
States was retaliating on account of its dispute with Brazil in
the issue of informatics.
    For the next three months, Fendt estimated a monthly trade
surplus of 400 mln dlrs, for an overall surplus of 1.2 billion
dlrs in the April-May-June period.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21804" NEWID="17181">
<DATE>24-APR-1987 17:10:11.47</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2587&#31;reute
u f BC-ANALYST-UPGRADES-OPIN   04-24 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>ANALYST UPGRADES OPINION ON U.S. BANK STOCKS</TITLE>
<DATELINE>    NEW YORK, April 24 - </DATELINE><BODY>Analyst George Salem of Donaldson,
Lufkin and Jenrette Securities Corp upgraded his recommendation
on most U.S. money center banks following comments from a
Japanese official that Japan plans to provide developing
nations with up to 30 billion dlrs in loans.
    Salem said he changed his trading recommendation from
negative to a buy. He is still neutral to negative long term.
But the Japanese assistance is a psychological boost for the
stocks. He said his report focused on Citicorp &lt;CCI> , J.P.
Morgan and Co &lt;JPM>, Chase Manhattan Corp &lt;CMB> and Bankers
Trust Co &lt;BT>.
    Yesterday, a U.S. state department spokesman said the loans
will help the countries import goods needed to increase
domestic production. The countries could then boost exports and
earn foreign exchange, making it easier to repay loans to U.S.
banks.
    "This is a group of stocks that was starving for good
news," Salem said. "I"m not declaring an end to the debt
crisis, or that problems of all the countries are now under
control."
    Stocks in the money center bank group were generally higher
today, adding to yesterday's gains.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21805" NEWID="17182">
<DATE>24-APR-1987 17:15:26.18</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2592&#31;reute
r f BC-ENTWISTLE   04-24 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>ENTWISTLE &lt;ENTW.O> HAS 5.1 PCT OF ESPEY &lt;ESP></TITLE>
<DATELINE>    WASHINGTON, April 24 - </DATELINE><BODY>Entwistle Co told the Securities and
Exchange Commission it has acquired 62,500 shares of Espey
Manufacturing and Electronics Corp, or 5.1 pct of the total
outstanding common stock.
    Entwistle, a Hudson, Mass., machinery maker and military
contractor, said it bought the stake for investment purposes
and has no plans to seek control of the company or to seek
representation on its board of directors.
    But Entwistle said it has indicated its interest to Espey
management in acquiring a family-held 19 pct stake in the
company in addition to its current stake.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21806" NEWID="17183">
<DATE>24-APR-1987 17:39:02.68</DATE>
<TOPICS><D>grain</D><D>corn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2655&#31;reute
u f BC-/USDA-ADJUSTS-LOUISIA   04-24 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>USDA ADJUSTS LOUISIANA GULF PRICE DIFFERENTIALS</TITLE>
<DATELINE>    WASHINGTON, April 24 - </DATELINE><BODY>The U.S. Agriculture Department has
narrowed by three cents the price differential between the
Louisiana Gulf price of corn and posted country prices pegged
to the gulf price, USDA officials said.
    The change, effective April 27, means posted county prices
will be three cents higher in the region, Robert Sindt,
assistant deputy administrator of USDA's Agricultural
Stabilization and Conservation Service, said.
    Trade sources said USDA adjusted the differentials because
gulf prices had shown some weakness in recent days compared
with the rest of the country.
    Sindt said Louisiana Gulf corn price differentials that had
been between four and eight cents would, effective Monday,
range between one and five cents.
    Trade sources said cash bids at the Louisiana Gulf have
been between three and 4.5 cents weaker than in the rest of the
country in recent days, and that USDA's move would strengthen
the front end of the corn market.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21807" NEWID="17184">
<DATE>24-APR-1987 17:50:19.03</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2672&#31;reute
d f BC-ALEXANDERS-SERVED-WIT   04-24 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>ALEXANDER'S &lt;ALX> SERVED WITH COMPLAINTS</TITLE>
<DATELINE>    NEW YORK, April 24 - </DATELINE><BODY>Alexander's Inc said that although no
proposal has been received, the company has been served with
several shareholder complaints challenging the 47-dlr-a-share
acquisition price under consideration by Donald Trump and
Interstate Properties.
    Alexander's chairman Robin Farks said that an announcement
made earlier this month indicated that no assurance could be
given that Trump and Interstate would reach any agreement
regarding an acquisition of the company, or what price might be
offered.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21808" NEWID="17185">
<DATE>24-APR-1987 18:01:23.05</DATE>
<TOPICS><D>gnp</D><D>cpi</D><D>jobs</D></TOPICS>
<PLACES><D>sweden</D><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>oecd</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2693&#31;reute
r f BC-OECD-WARNS-SWEDEN-ON   04-24 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>OECD WARNS SWEDEN ON LABOUR COSTS</TITLE>
<DATELINE>    PARIS, April 25 - </DATELINE><BODY>High labour costs and slower corporate
investment could hinder Sweden's economic growth after 1987,
the Organisation for Economic Cooperation and Development,
OECD, said.
    The Swedish economy grew at a slower rate in 1986 than in
previous years. GDP rose about 1.7 pct in 1986 compared with
2.2 pct in 1985. But this growth depended largely on external
factors, particularly lower oil prices, the OECD secretariat
said in its latest annual report on Sweden.
    It warned that labour costs had risen more rapidly in
Sweden than in other OECD countries.
    Because of high labour costs Swedish industry, which
largely relies upon export markets, was losing market share.
Wages in the manufacturing sector grew by seven pct in 1986, in
line with 1985 increases, while public sector wages rose an
estimated 9.2 pct in 1986, up from six pct in 1985.
    This was significantly higher than average wage increases
of 3.75 pct for the seven largest members of the OECD in 1986.
    The report said wage moderation was central to maintaining
economic growth in Sweden. It suggested that wage negotiations
should be at least partly centralised to control the total
wages bill and hold down inflation and unemployment levels.
    Helped by low oil prices and the government's tight fiscal
policy, inflation fell to just over three pct in 1986 from
almost six pct in 1985 but remained higher than in most other
OECD countries, the report said.
    Unemployment, a principal policy target, was at 2.7 pct in
1986, in line with 1985's 2.8 pct and well below the OECD
average of 8.6 pct. The report said Sweden's employment
policies accounted for the high levels of wage inflation.
    It also said that economic growth in 1986 relied
increasingly on private consumption because corporate
investment in machinery and equipment had shrunk.
    The total volume of industrial investments dropped by two
pct in 1986, with sharp declines in spending by the wood, pulp
and paper industries. This compared to a 19 pct rise in 1985
when there was heavy investment in these industries.
    The OECD said Sweden should now make an effort to boost
corporate investments and reduce its dependence on domestic
consumption for economic growth. It suggested there was room
for reform in the tax system.
    Sweden should continue to cut public sector spending,
especially in local government, to keep in line with its
tighter fiscal policy, the report said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21809" NEWID="17186">
<DATE>24-APR-1987 18:42:49.05</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f2750&#31;reute
r f BC-BRAZIL-TRADE-SURPLUS   04-24 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL TRADE SURPLUS FALLS SHARPLY IN MARCH</TITLE>
<DATELINE>    RIO DE JANEIRO, APRIL 24 - </DATELINE><BODY>Brazil's trade surplus in March
totalled only 136 mln dlrs compared to 1.13 billion dlrs in the
same month last year, director of the Banco do Brasil's Foreign
Trade Department (Cacex) Roberto Fendt said.
    In a news conference, Fendt attributed the weak performance
in the March trade balance to labour strikes in the country.
March exports totalled 1.43 billion dlrs, against 1.53 billion
dlrs in February, and 2.16 billion dlrs in March 1986.
    March imports amounted to 1.29 billion dlrs compared to
1.27 billion dlrs in February and 1.02 billion dlrs in March
1986.
    Fendt said that coffee earnings rose to 220 mln dlrs in
March from 110 mln dlrs in February while oil derivatives were
down to 54 mln dlrs from 58 mln dlrs in February.
    He said that although the March results were considerably
lower than the same month last year, the government's target of
an eight billion dlr surplus for 1987 should be achieved. The
January-March trade surplus totalled 526 mln dlrs, well below a
similar period last year, which reached 2.46 billion dlrs.
    Asked to explain the reason for his optimism, Fendt said
they were estimating that in each of the last six months of the
year the trade surplus would amount one billion dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21810" NEWID="17187">
<DATE>24-APR-1987 18:57:55.76</DATE>
<TOPICS><D>silver</D></TOPICS>
<PLACES><D>peru</D><D>mexico</D></PLACES>
<PEOPLE><D>garcia</D><D>de-la-madrid</D><D>mancera-aguayo</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f2760&#31;reute
u f AM-peru-silver   04-24 0131</UNKNOWN>
<TEXT>&#2;
<TITLE>PERU PRESIDENT WARNS OF RETALIATION ON SILVER</TITLE>
<AUTHOR>    By Walker Simon, Reuters</AUTHOR>
<DATELINE>    LIMA, April 24 - </DATELINE><BODY>The Peruvian government's freeze on silver
sales, which has contributed to a sharp boost in the metal's
price, could draw retaliation by rich nations and big traders
seeking lower prices, President Alan Garcia said.
    Peru, the world's second biggest silver producer, stopped
selling its refined silver and state-marketed ore on tuesday.
Since then, the metal's price has risen to its highest level in
nearly three years. It closed today at over nine dlrs an ounce
on world markets.
    Garcia said the move showed that a small nation like Peru
could move international markets and did not have to accept
cheap prices for silver, traditionally one of the top revenue
earners of the country.
    Peru exported its refined silver last year at an average
price of 5.40 dlrs a troy ounce. As recently as one month ago,
silver bullion was trading for about 5.70 dlrs an ounce on
world markets.
    "One thing is that Peru, which produces silver, sells it
silently and in a submissive manner at the price world markets
want," he told reporters at the presidential palace.
    "The other is that a nationalist government says, 'wait a
moment I can't sell silver at these prices,'" he added.
    The peruvian energy and mines minister, Wilfredo Huayta,
said the government would maintain its freeze on new sales of
silver until the price of the metal reaches "the true value this
raw material should have." He did not specify this level.
    Garcia said rich nations and big traders, faced with Peru's
stance, could try to defend themselves.
    "They have some stocks, they have silver deposits, they can
make fictitious sales and that way try to make the price of our
mineral fall in the world market," Garcia said.
    "Whatever manoeuvre they take will be answered by Peru," he
said. "Peru is in a position of action."
    President Garcia had recently spoken by telephone with
Mexican President Miguel de la Madrid, Huayta said. Mexico is
the world's biggest producer of silver.
    Mexico and Peru together produce nearly nearly 40 pct of
the world's silver, the official newspaper El Peruano said.
    The newspaper added that Peruvian central bank president
Leonel Figueroa and the head of the central bank of Mexico,
Miguel Mancera Aguayo, met in Mexico City yesterday to
coordinate actions aimed at consolidating the upward trend of
the price of the metal.
    Analysts in Zurich, a major silver trading centre, said
today the rally in silver prices was also fuelled by investors
buying the metal to protect themselves against inflation, which
they fear could be rekindled by the dollar's weakness.
    On an historical basis, silver is still relatively cheap
compared to gold, which some investors believe could set the
stage for further rises, they said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21811" NEWID="17188">
<DATE>24-APR-1987 19:03:13.49</DATE>
<TOPICS><D>ipi</D></TOPICS>
<PLACES><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f2767&#31;reute
d f AM-SOVIET-ECONOMY   04-24 0126</UNKNOWN>
<TEXT>&#2;
<TITLE>SOVIET GOVT SAYS ECONOMIC RESULTS UNSATISFACTORY</TITLE>
<DATELINE>    MOSCOW, April 24 - </DATELINE><BODY>The Soviet government said economic
results achieved in the first three months of the year were
unsatisfactory, the official news agency Tass said.
    Soviet industrial production from January to March grew by
2.5 pct compared with the same period last year, but fell short
of its target by 0.8 pct, official statistics showed.
    "The Council of Ministers (government) emphasised that the
results did not meet the Communist Party's exacting demands for
the radical reconstruction of the economy," Tass said. "The first
quarter economic results were deemed unsatisfactory."
     It singled out failings in the engineering, chemical and
timber industriess, as well as light industry.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21812" NEWID="17189">
<DATE>24-APR-1987 19:04:56.28</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2768&#31;reute
u f BC-AM-INT'L-&lt;AM>-SAYS-3R   04-24 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>AM INT'L &lt;AM> SAYS 3RD QTR MAY NOT TOP BREAKEVEN</TITLE>
<DATELINE>    CHICAGO, April 24 - </DATELINE><BODY>AM International Inc said its third
quarter net income may not exceed the breakeven level.
    However, the company said its fourth quarter operating
profits are expected to be the largest of this year, and added
its operating profits for the full year should be more than
twice the fiscal 1986 year.
    AM International earned 8.5 mln dlrs, or 17 cts a share in
the third period last year. Its operating profit for the fourth
quarter last year was 6.7 mln dlrs. For the full year last year
AM International had an operating profit of 29.1 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21813" NEWID="17190">
<DATE>24-APR-1987 19:57:55.16</DATE>
<TOPICS><D>gnp</D><D>crude</D><D>trade</D><D>bop</D></TOPICS>
<PLACES><D>ecuador</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y RM
&#22;&#22;&#1;f2782&#31;reute
u f PM-ecuador   04-24 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>ECUADOR ECONOMY SEEN CONTRACTING IN 1987</TITLE>
<DATELINE>    QUITO, April 24 - </DATELINE><BODY>The Ecuadorean economy, struck by an
earthquake last month, will contract an estimated four pct in
1987 and its crude oil output will drop by 42 pct, the
government's national development council (Conade) said.
    A Conade report, dated April 21 and obtained, said that the
country's gross domestic product (gdp) would fall by an
estimated four pct compared to 1.5 pct growth last year. Conade
functions as the country's main planning institution.
    Crude output will fall to 61.2 mln barrels in 1987 from
105.6 mln in 1986, Conade said. It forecast exports of 22.9 mln
of crude and derivatives against 63.3 mln last year.
    The March five earthquake killed up to 1,000 people and
caused an estimated one billion dlrs in damage. It paralyzed
Ecuador's crude output because it ruptured the country's main
pipeline from Lago Agrio, at the heart of jungle oilfields, to
the Pacific Ocean port of Balao.
    It will take until at least end-July to repair the line and
return output to normal levels, oil officials said. Ecuador
output was about 250,000 barrels per day before the tremor.
    Conade forecast total 1987 exports of 1.77 billion dlrs,
572 mln dlrs of which would be oil and derivatives.
    Imports were forecast at 1.70 billion dlrs. Total 1986
exports were 2.18 billion dlrs, of which 979 mln dlrs were
crude and derivatives, with total imports 1.66 billion dlrs.
    Conade predicted that payments on Ecuador's 8.16 billion
dlrs foreign debt will be limited to 947 mln dlrs this year
against 1.489 billion dlrs last year. Conade's projected
ceiling on payments is not legally binding.
    The current account balance of payments deficit was seen at
934 mln dlrs in 1987. It was 696 mln dlrs in 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21814" NEWID="17191">
<DATE>24-APR-1987 23:25:29.64</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>hong-kong</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2806&#31;reute
u f BC-HONG-KONG-BANKS-LEAVE   04-24 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>HONG KONG BANKS LEAVE INTEREST RATES UNCHANGED</TITLE>
<DATELINE>    HONG KONG, April 25 - </DATELINE><BODY>The Hong Kong Association of Banks
said it decided to leave interest rates unchanged at today's
regular weekly meeting.
    Current rates are savings accounts and 24-hours two pct,
seven-day call, one and two-weeks 2-1/4 pct, one and two months
2-3/4 pct, three and six months 3-1/4 pct, nine months 3-1/2
pct and 12 months four pct.
    Prime rate is 6-1/2 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="17273" NEWID="17192">
<DATE>31-MAR-1987 605:12:19.12</DATE>
<TOPICS></TOPICS>
<PLACES><D>hong-kong</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0391&#31;reute
u f BC-KUMAGAI-GUMI'S-UNIT-S   03-31 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>KUMAGAI GUMI'S UNIT SEEKS LISTING IN HONG KONG</TITLE>
<DATELINE>    HONG KONG, March 31 - </DATELINE><BODY>A subsidiary of the Japanese
construction group Kumagai Gumi Co Ltd &lt;KUMT.TOK> is seeking to
float its shares on the Hong Kong Stock Exchange, merchant
banking sources said.
    They said &lt;Kumagai Gumi (Hong Kong) Ltd> has appointed
&lt;Canadian Eastern Finance Ltd>, &lt;Sun Hung Kai International
Ltd> and &lt;Wardley Ltd> as arrangers for the flotation. But they
declined disclosure of any further details.
    A spokesman of Cheung Kong (Holdings) Ltd &lt;CKGH.HKG> told
Reuters the group's chairman Li Ka-shing also will take a 10-15
pct stake in Kumagai Gumi (Hong Kong).
    He said the privately held &lt;Li Ka-shing Foundations Ltd>
will receive a certain number of shares in Kumagai Gumi (Hong
Kong) for injection into the company and up to 50 pct interest
in a 520 mln H.K. Dlr worth property project at Hong Kong's New
Territories.
    But he added the Cheung Kong group will have no interest in
the construction firm.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21815" NEWID="17193">
<DATE>26-APR-1987 00:13:33.63</DATE>
<TOPICS><D>money-supply</D><D>cpi</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0001&#31;reute
u f BC-BUNDESBANK-AIMS-FOR-T   04-26 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>BUNDESBANK AIMS FOR TIGHT MONEY POLICY - SCHLESINGER</TITLE>
<DATELINE>    FRANKFURT, April 26 - </DATELINE><BODY>The Bundesbank is trying to keep
monetary policy tight in order to counter inflationary
tendencies, Bundesbank Vice-President Helmut Schlesinger was
quoted as saying.
    "We are trying to keep the monetary framework tight, so that
inflationary pressures cannot develop," he told the Frankfurter
Neue Presse daily in an interview.
    "Central bank money stock does not have to be reduced
because of this, but it must continue to grow modestly," he
said.
    Bundesbank spokesmen were not available for comment.
    On Thursday Schlesinger said in a contribution to the
Handelsblatt daily that the accommodative monetary stance in
West Germany caused by outside pressures could not determine
policy in the long term.
    The improvement in West German terms of trade, providing
room for non-inflationary expansion of domestic demand in
excess of output growth, put the overshoot of central bank
money stock in a more positive light, he said on Thursday.
    Central bank money stock, the Bundesbank's main monetary
measure, was growing at an annual rate of 7.3 pct in March,
above the 1987 three-six pct target range.
    Money stock overshot the 3.5-5.5 pct 1986 growth target.
    Schlesinger told the Frankfurter Neue Presse that the phase
of falling prices was over in West Germany.
    Prices might still be lower on a comparison with their
level one year earlier. But the cost of living index has risen
to 120.7 in March from its November 1986 low of 120.0,
expressing a slight rise in prices, Schlesinger said.
    In March the cost of living was steady against February but
0.2 pct below March 1986.
    Schlesinger said a rise of between one and 1.5 pct during
1987 would be acceptable, and effectively mean price stability.
    Agreements so far in the current West German wage round are
neutral as far as inflation is concerned because of the
strength of the mark, Schlesinger said.
    Wage agreements in the public service and engineering
industry were relatively high in view of the stable cost of
living. But the higher costs would be compensated for, he said.
    "I am thinking above all of the fact that in the course of
this year we will in all probability have a stronger mark
against other currencies than last year," he said, adding
"Without this mark revaluation effect, we would have had to say
that the wage rise agreements were not neutral for prices."
    Schlesinger said exchange rate movements had increased the
scope for redistributing wealth this year, but this development
was unlikely to continue in 1988.
    "For this reason I cannot comment on that part of the
engineering agreement which covers the coming years," he said.
    Some 2.3 mln workers for the public services received a 3.4
pct pay rise from January 1. An agreement for four mln
engineering workers raised pay by 3.7 pct from April 1, and
then raises pay by another two pct from April 1, 1988 and by
2.5 pct from April 1, 1989. The engineering agreement also cuts
the working week by 1-1/2 hours to 37 hours in two stages.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21816" NEWID="17194">
<DATE>26-APR-1987 00:24:03.40</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>nakasone</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0006&#31;reute
u f BC-NAKASONE-ADVISED-TO-E   04-26 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>NAKASONE ADVISED TO EXPAND PURCHASES ABROAD</TITLE>
<DATELINE>    TOKYO, April 26 - </DATELINE><BODY>Prime Minister Yasuhiro Nakasone was
advised to work out a plan for his government to buy more than
one billion dlrs worth of foreign industrial products as part
of efforts to defuse Japan's trade frictions with the United
States, officials said.
    Former Foreign Minister Shintaro Abe made the
recommendation at a meeting with Nakasone soon after returning
from a U.S. Visit designed to pave the way for the prime
minister's visit to Washington starting next Wednesday.
    Abe met President Ronald Reagan and U.S. Congressional
leaders during his visit.
    It was not known how Nakasone responded to the suggestion.
    It also included increasing the nation's untied loans to
developing countries to between 25 billion and 30 billion dlrs
over the next three years and giving foreign firms greater
access to a six billion dlr international airport project in
western Japan, officials said.
    Abe called for tax cuts and government funds to be funneled
into public works projects to stimulate domestic demand. Abe
spoke of the possibility that Nakasone's visit could coincide
with the passage of a protectionist trade bill by the U.S.
House of Representatives.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21817" NEWID="17195">
<DATE>26-APR-1987 01:21:08.89</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>de-clercq</D></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0020&#31;reute
u f BC-EC-SAYS-JAPAN-CAR-EXP   04-26 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>EC SAYS JAPAN CAR EXPORT RESTRAINT NOT ENOUGH</TITLE>
<DATELINE>    KASHIKOJIMA, JAPAN, April 26 - </DATELINE><BODY>Japan"s 1987 car export
restraint to the European Community (EC) is not enough, EC
external trade chief Willy de Clercq said.
    There are also strong signs Japanese exporters are
diverting cars to the EC after the dollar"s fall against the yen
made their U.S. Market unprofitable, he told reporters after
meeting U.S., Japanese, and Canadian trade ministers.
    The EC has agreed that if it detects an abnormal diversion
in Japanese exports from the U.S. To the EC market due to
currency movements over the past two years, it will move to
prevent it, he said.
    Over the period, the yen has risen against the dollar
almost eight times as fast as against the European Currency
Unit, he said.
    Japan has set an unofficial, voluntary 10 pct rise in car
exports to the EC this year as part of its efforts to stop its
rising trade surplus with the Community, which hit a record 18
billion dlrs last year.
    But Japanese car exports to the EC so far this year jumped
over 30 pct compared to a drop of 17 pct in U.S. Sales, and a
seven per cent fall globally. "We think there is some diversion
there," said de Clercq.
    Japanese officials say the overall annual rise will be only
10 pct.
    "But even 10 pct is 100,000 cars, whereas we sell only
40,000 cars to Japan (per year) in total," he said.
    The EC is also demanding that Japan ease its strict checks
and requirements for imported cars, which Brussels says is a
non-tariff barrier.
    The EC is also worried because EC demand for cars is
falling this year, making any rise in Japanese imports even
more serious for EC auto manufacturers.
    De Clercq, who has taken a hard line on world trade
problems at this weekend meeting in central Japan, said the EC
appreciated Japan"s plans to cut exports and lift domestic
growth instead.
    "But even if all these measures are implemented, it will
take time. But there is not time," he said.
    "There are burning issues on the table which cannot wait. It
were better that the fire were put out immediately and not to
wait till the house burns down," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21818" NEWID="17196">
<DATE>26-APR-1987 01:32:34.09</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>uae</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>gcc</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0024&#31;reute
u f BC-UAE-TO-COORDINATE-EXC   04-26 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>UAE TO COORDINATE EXCHANGE RATES WITH GCC</TITLE>
<DATELINE>    ABU DHABI, April 26 - </DATELINE><BODY>United Arab Emirates (UAE) Central
Bank Governor Abdel Malik al-Hamar said any changes in the UAE"s
exchange rate policy would be carried out in conjunction with
other Gulf Cooperation Council (GCC) countries.
    In a speech opening a seminar on Arab exchange rate
policies, he noted the UAE had not changed the value of the
dirham against the U.S. Dollar since 1980 despite wide
fluctuations in the latter"s value against other currencies.
    "The exchange rate policy of the dirham has realised its
goals in the past and changes in this policy depend on
coordination and cooperation with other GCC countries," he said.
    The GCC states -- the UAE, Saudi Arabia, Bahrain, Qatar,
Oman and Kuwait -- have agreed in principle to link their
currencies to a common grid.
    Their currencies are now linked either to the dollar, IMF
special drawing right (SDR) or, in the case of Kuwait, a
trade-weighted basket of international currencies.
    The UAE dirham can fluctuate within a band of 7.25 pct
higher or lower than 4.7619 to the SDR but has been fixed at
3.671 to the dollar since November 1980.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21819" NEWID="17197">
<DATE>26-APR-1987 01:41:57.71</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D><D>pakistan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>worldbank</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0026&#31;reute
u f BC-WORLD-BANK-AGREES-2.4   04-26 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>WORLD BANK AGREES 2.4 BILLION DLR PAKISTAN AID</TITLE>
<DATELINE>    PARIS, April 26 - </DATELINE><BODY>The World Bank, citing Pakistan"s progress
in its economic performance and fiscal policy reforms, said it
had agreed a 2.4 billion dlr aid programme for 1988.
    The bank said in a statement "substantial increases" had been
approved to help fund support for refugees from neighbouring
Afghanistan.
    But the bank said it had expressed serious concern at
Pakistan"s budget. "This year"s overall budget deficit is expected
to be larger than either either last year"s outcome or the
amount originally budgeted (for 1987)," it added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21820" NEWID="17198">
<DATE>26-APR-1987 01:54:30.41</DATE>
<TOPICS><D>trade</D><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>japan</D><D>canada</D><D>usa</D><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D><D>oecd</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0027&#31;reute
u f BC-TOP-NATIONS-AGREE-OVE   04-26 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>TOP NATIONS AGREE OVER FARM TRADE ISSUE</TITLE>
<DATELINE>    KASHIKOJIMA, JAPAN, April 26 - </DATELINE><BODY>Ministers from the major
trading nations have for the first time made a concerted
commitment to review the whole distorted structure of world
farm trade, Canadian Trade Minister Patricia Carney said.
    "We think we can get some movement on this," she told
reporters at a briefing following informal talks with the U.S.,
Japanese and European Community (EC) trade ministers here.
    Canada, strongly supported by Australia, has championed the
cause of both developed and developing nations which have seen
their farm trade suffer largely due to a farm subsidy war
between the United States and the EC.
    Japan"s protected agricultural markets have also attracted
criticism.
    The issue is of extreme importance to many indebted,
developing nations which often rely totally on one or two farm
sector exports to sustain their economies but which cannot
compete with the subsidised U.S. And EC products.
    "Canada can afford so many billions of dollars (to do so),
but many countries cannot," said Carney.
    She said the EC had changed its previous unhelpful attitude
and had raised proposals similar to those of Canada under which
to discuss the issue.
    Talks will now continue at the Organisation of Economic
Cooperation and Development (OECD), which meets next month, and
at the series of discussions on a new world trading framework,
begun at Punta del Este, Uruguay, last year.
    Carney said Japan had also agreed to take a positive role
in the farm talks, and that the United States was willing to
see short-term progress, as long as long-term solutions were
not affected.
    Canada"s five point programme demands that farm product
prices must reflect open world market prices, that any support
for farmers incomes should not be linked to production
incentives, that there should be no new farm subsidies, no new
farm import barriers, and that any decisions should be
implemented collectively.
    The farm trade problem was almost completely ignored by the
industrialised world until Canada raised it last year at the
Tokyo summit of seven leading industrial powers.
    The distortions created by subsidies and protectionism have
created some absurd situations.
    For example, to protect its farmers the Japanese government
buys Canadian wheat and sells it at 10 times the purchase price
to Japanese consumers.
    "So we end up borrowing in the Japanese (financial) market
to help pay subsidies to keep our farmers while they make a
profit on our wheat to help pay the price support for their
farmers," said Carney.
    The problem causes pain for many nations and increases the
already dangerously high debts that they owe mainly to U.S.,
Japanese and EC banks.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21821" NEWID="17199">
<DATE>26-APR-1987 02:25:43.49</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>qatar</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>opec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0032&#31;reute
u f BC-QATAR"S-BANKS-SET-FOR   04-26 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>QATAR"S BANKS SET FOR FURTHER LEAN SPELL</TITLE>
<AUTHOR>    By Stephen Jukes, Reuters</AUTHOR>
<DATELINE>    DOHA, April 26 - </DATELINE><BODY>Bank profits in the Gulf oil state of
Qatar are coming under renewed pressure and foreign banks are
retrenching further in one of the region"s most overbanked
markets.
    Results for 1986 show a year of declining profit for
several foreign banks, although locally-owned operations were
in some cases able to cushion the drop by increasing market
share.
    &lt;Qatar National Bank SAQ>"s (QNB) General Manager, Abdulla
Khalid al-Attiya, said: "The economy is not improving as we
hoped... 1987 will be another difficult year for the banks."
    Oil-dependent Qatar, with a tiny indigenous population of
60,000 to 80,000 and an expatriate workforce estimated at about
280,000, boasts five local banks and 10 foreign bank
operations.
    Local and foreign bankers in the capital said the Gulf-wide
recession, aggravated this year by Qatar"s severe difficulty
marketing its crude oil at official OPEC prices, has taken a
heavy toll on the economy and bank profitability.
    As a result, the only U.S. Bank, &lt;Citibank NA>, is thought
to be negotiating to sell its operation to the fast growing
locally based &lt;Al Ahli Bank of Qatar QSC> which only started
operations in 1984, bankers said. Citibank would not comment.
    Other foreign banks have retrenched, with &lt;Standard
Chartered Bank> cutting staff and others expected to follow.
&lt;Banque Paribas> is examining a change in its status to admit
51 pct Qatari ownership in a bid to improve its access to local
business, bankers said.
    One banker added: "Weak profits are here to stay for the
time being. There is no cause for optimism at the moment."
    Sentiment had picked up briefly at the end of last year
when OPEC reached its accord to curb oil output and return to
fixed prices. However, it soon became apparent that Qatar was
having difficulty selling oil at OPEC prices.
    The soft spot oil market has left official Qatari crude
prices 20 to 40 cents more expensive and sales have been
running in recent weeks at 100,000 and 120,000 barrels per day,
well down on the nation"s OPEC quota of 285,000, oil sources
said.
    Bankers said this serious shortfall in Qatar"s revenue has
led to a new spate of payments delays from the public sector to
private contractors after a marginal improvement in January.
    Loan loss provisions continued to eat into bank profits
last year, as did the introduction of minimum reserve
requirements by the Qatar Monetary Agency. Trade financing has
almost dried up as a traditional source of bank income.
    Of the local banks, QNB conducts the bulk of the
government"s business and subsequently enjoys a huge advantage
its rivals cannot expect to match, bankers said.
    The bank reported a 2.9 pct rise in net 1986 profit to 93.1
mln Qatari riyals, while its balance sheet grew by 10.8 pct to
9.0 billion, making it by far the largest bank in Qatar.
    But the strong assets growth partly reflected bridging
loans for the public and private sector to tide government
departments and local business over the lean economic spell,
Attiya said. "Generally speaking, we are overbanked in Qatar," he
said, echoing a widespread feeling in the banking community.
    Other local banks fared less strongly. The second largest,
&lt;Doha Bank Ltd QSC>, reported a 13 pct drop in net profit to
27.5 mln riyals, while &lt;Commercial Bank of Qatar Ltd QSC>,
registered a decline to 18.5 mln riyals from 19.4 mln in 1985.
    The newcomer Al Ahli Bank, continued to expand rapidly and
reported net profit of 5.2 mln compared with 3.3 mln during the
start-up period from August 4, 1984 to end-1985.
    Bankers said the local banks had clearly begun to win
commercial deposits previously held by foreign banks,
increasing already strong pressure on non-Qatari banks to
reexamine their staffing levels and overheads.
    &lt;Grindlays Bank PLC> recorded a net loss at its Doha branch
last year of 4.7 mln riyals after registering a nominal profit
in 1985 of 12,000 riyals.
    Two other long-established banks in the Gulf, the &lt;British
Bank of the Middle East> (BBME) and Standard Chartered, also
found last year a difficult climate to make strong profits.
    BBME"s net profit fell to 3.2 mln riyals from 10.4 mln in
1985, but Assistant Manager John Farquharson said 1985"s result
had been artificially inflated by tax rebates on provisions.
    "Foreign banks are seeing their assets decline, while local
banks are increasing their market share," Farquharson said.
    BBME"s operating profit was steady in 1986, edging up to
12.3 mln riyals from 11.5 mln in 1985. "We are expecting the
same level of operating profit in 1987," Farquharson said.
    Standard Chartered"s net profit last year recovered slightly
to 1.6 mln riyals after a loss of 161,000 in 1985. Staff
numbers were cut last year to reduce overheads.
    Bankers said the lack of new construction projects in Qatar
means business is unlikely to pick up this year although hopes
are rising that the start of Qatari gas exploitation could
provide a boost. But the threat of higher U.S. Interest rates
may erode bank deposits as savings are moved offshore.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21822" NEWID="17200">
<DATE>26-APR-1987 04:21:41.57</DATE>
<TOPICS><D>money-fx</D><D>dlr</D><D>interest</D></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE><D>corrigan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0041&#31;reute
u f BC-U.S.-CENTRAL-BANKER-O   04-26 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. CENTRAL BANKER OPPOSES FURTHER DOLLAR FALL</TITLE>
<DATELINE>    OSAKA, JAPAN, April 26 - </DATELINE><BODY>New York Federal Reserve Bank
President Gerald Corrigan opposed a further fall in the value
of the dollar but refused to say whether U.S. Interest rates
would be raised to protect the currency.
    "A further decline in the dollar or appreciation of the yen
at this juncture I would regard as counterproductive," he told a
news conference.
    His comments echoed those made last week by U.S. Treasury
Secretary James Baker, who also warned against a further dollar
fall. The U.S. Currency plunged to a post-war low below 140 yen
last week, despite dollar-buying by a number of central banks.
    Currency speculators and investors are convinced that a
further dollar fall is needed to help reduce the huge U.S.
Trade deficit, dealers said. The only thing likely to help the
dollar is seen as a rise in U.S. Interest rates.
    Corrigan refused to say whether the U.S. Was ready to risk
damaging its economic recovery by raising interest rates.
    The dollar"s sharp drop this month has also raised questions
about the usefulness of recent meetings of the Group of Seven.
But Corrigan said: "They have played a constructive role in so
far as the broad objective of facilitating a higher degree of
economic policy coordination."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21823" NEWID="17201">
<DATE>26-APR-1987 04:35:07.82</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>reagan</D><D>nakasone</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0043&#31;reute
u f BC-REAGAN-WARNS-CONGRESS   04-26 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>REAGAN WARNS CONGRESS ON PROTECTIONISM</TITLE>
<DATELINE>    WASHINGTON, April 26 - </DATELINE><BODY>President Reagan warned the U.S.
Congress in his weekly radio address against passing what he
called dangerous, protectionist trade legislation that would
tie his hands in trade negotiations with Japan and other
countries.
    Reagan, who will hold talks with Japanese Prime Minister
Yasuhiro Nakasone here this week, said he would lift tariffs
imposed last week against some Japanese products as soon as
Tokyo complied with a U.S.-Japanese pact on semiconductors.
    U.S. Officials gave the same message to former Japanese
Foreign Minister Shintaro Abe in meetings in Washington last
week.
    In his weekly radio address on Saturday, Reagan said he
would tell Nakasone: "We want to continue to work cooperatively
on trade problems and want very much to lift these trade
restrictions as soon as evidence permits.
    Reagan said the 100 pct tariffs he imposed on some 300 mln
dlrs worth of Japanese goods was a special case of trade
retaliation and did not signal a shift in what he called his
staunch anti-protectionist policies.
    "In imposing these tariffs we were just trying to deal with
a particular problem, not begin a trade war," he said.
    But Congress is ready to approve tough trade legislation to
try to turn round the record U.S. Trade deficit, which has cost
millions of U.S. Jobs and closed thousands of factories.
    A vote on a trade bill sponsored by Congressman Richard
Gephardt is expected to come during Nakasone"s visit. It would
penalise nations with large trade surpluses and which are
alleged to use unfair trade practices.
    Reagan warned Congress that such action would undercut his
ability to negotiate on trade issues with Nakasone and others.
    "With my meeting with Prime Minister Nakasone and the Venice
economic summit coming up, it"s terribly important not to
restrict a president"s options in such trade dealings with
foreign governments," he said.
    "Unfortunately, some in the Congress are trying to do
exactly that," he said.
    Reagan said he would keep the American people "informed on
this dangerous legislation because it"s just another form of
protectionism and I may need your help to stop it."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21824" NEWID="17202">
<DATE>26-APR-1987 04:56:51.37</DATE>
<TOPICS><D>trade</D><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>japan</D><D>usa</D><D>canada</D></PLACES>
<PEOPLE><D>tamura</D><D>de-clercq</D><D>yeutter</D></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0047&#31;reute
u f BC-TRADE-MINISTERS-SAY-G   04-26 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>TRADE MINISTERS SAY GOVERNMENTS NEED CREDIBILITY</TITLE>
<AUTHOR>    By Eric Hall, Reuters</AUTHOR>
<DATELINE>    KASHIKOJIMA, Japan, April 26 - </DATELINE><BODY>Four trade ministers ended a
weekend meeting with a frank confession that their governments
are losing credibility in world financial markets and will not
regain it until they back their promises over trade and
currencies with action.
    "Until today we have anounced policies, but when it came to
action required it was done in a way that satisfied nobody,"
Japanese Trade Minister Hajime Tamura told a news conference.
    "From now on, if a government comes up with a certain
policy, it must be followed by action," he said following two
days of informal talks with the trade ministers of the United
States, the European Community and Canada in central Japan.
    Last week, the dollar fell to a new record low below 140
yen, despite statements from the Group of Seven (G-7) leading
industrial powers that currencies should be stabilised to
underpin world trade.
    "We need credibility to gain confidence. When we have
confidence, then we can have an impact," said Tamura.
    His colleagues agreed that when major trade nations fought
over trade issues while calling for each other to honour free
trade rules in general, it was not a sight which inspired
confidence in the markets.
    "The time has come now to act in step with the talk. If you
belong to a club, you have to act in concord with the rules, if
you want to be credible," said EC external trade chief Willy de
Clercq. Canadian Trade Minister Patricia Carney also agreed: "We
are meeting in a time of great trade tension. What the world
needs to see is that we have the political will to deal with
these problems we face."
    She said that next month"s meeting of the Organisation of
Economic Cooperation and Development and the meeting of leaders
of the G-7 nations in Venice in the summer would be a forum to
show this will existed.
    U.S. Trade Representative Clayton Yeutter reminded the news
conference that the results of such high level meetings could
lead to action which would only have an effect on smoothing out
world trade imbalances perhaps years later.
    "The media typically has a tendency to evaluate meetings
like this in terms of tangible results. That is not the way it
should be pursued," he said.
    "What is achieved in an intangible way almost always exceeds
what is achieved in a tangible way," he said.
    Progress in personal contacts and understanding each others"
positions and policies was just as important toward reducing
trade tensions, he said.
    Tamura read out an agreed summary of the joint talks:
    Currency stability was now essential, but currency
movements alone would not correct a U.S. Trade deficit with
Japan which hit 58 billion dlrs last year, an 18 billion dlr EC
deficit with Japan in 1986, and a Japanese global trade surplus
of almost 90 billion, he said.
    Trade retaliation, protectionism, and forcible export
restraints which lead to a shrinkage in world trade flows were
most dangerous, he said.
    The imbalances can only be solved by coordinated policies
over a whole range of fiscal, monetary, trade and industrial
measures, and in line with a body of internationally agreed
rules, he said.
    In this regard, the policing role of the Geneva-based
General Agreement on Tariffs and Trade world trade body must be
strengthened, he said.
    The ministers reconfirmed their individual promises to
solve the problem. The United States will try to reduce its
large budget deficit and restore competitiveness within its
industries.
    Japan will introduce early and effective measures to expand
its domestic growth and rely less on exports.
    The EC must continue efforts for balanced growth and
reduced unemployment. All felt satisfied at the new progress in
the Canadian economy.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21825" NEWID="17203">
<DATE>26-APR-1987 05:35:00.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>belgium</D><D>luxembourg</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0056&#31;reute
u f BC-EC-FARM-MINISTERS-TO   04-26 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>EC FARM MINISTERS TO RESUME PRICE TALKS</TITLE>
<DATELINE>    BRUSSELS, April 26 - </DATELINE><BODY>European Community (EC) agriculture
ministers resume discussions in Luxembourg tomorrow on tough
1987/88 farm price proposals from the bloc"s executive
Commission with only thin hopes of reaching a quick agreement.
    Their current chairman, Belgium"s Paul de Keersmaeker,
promised at the end of the group"s last meeting that if
agreement appeared in sight this week, he would keep his
colleagues at the negotiating table for long days and nights.
    But one diplomat told journalists: "I don"t think you need to
worry about that. We are a long way from the crunch yet."
    The commission has tabled a series of proposals which farm
experts say would together amount to the most swingeing attack
on overspending on the bloc"s Common Agricultural Policy, and
the biggest blow to farmers" incomes, in years.
    As well as cuts in common farm prices of 2.5 pct in the key
cereals sector, quality standards for farm goods sold into EC
surplus stores would be raised and the period of the year when
such sales were allowed restricted.
    The experts say prices received by farmers would be cut by
over 10 pct for many crops if such measures were agreed.
    The effects, however, would be mitigated by Commission
proposals unveiled on April 14 for generous cash grants to
farmers worst hit by the struggle to curb EC food surpluses.
    When ministers met on March 30 and 31 in Brussels for
initial discussions on the farm price package, several, notably
France"s Francois Guillaume and West Germany"s Ignaz Kiechle,
said the proposals were unacceptably tough.
    Only the Dutch and British delegations gave general support
to the Commission line that such drastic measures were
necessary to curb surplus food production in the EC and to
reduce the massive cost of the CAP.
    But even then, the British are among several delegations
which oppose the Commission"s controversial plan to raise two
billion European Currency Units through a tax on imported and
EC-produced oilseeds and fats.
    In order to seek common ground, de Keersmaeker plans to
spend the whole of tomorrow in bilateral meetings with each of
his colleagues in turn.
    Diplomats said although the ministers will meet together on
Tuesday, de Keersmaeker is likely to conclude that further
talks at the level of officials are necessary and that the hard
bargaining will have to wait until May.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21826" NEWID="17204">
<DATE>26-APR-1987 05:36:58.42</DATE>
<TOPICS><D>money-fx</D><D>interest</D></TOPICS>
<PLACES><D>bahrain</D><D>saudi-arabia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0057&#31;reute
u f BC-SAUDI-RIYAL-DEPOSITS   04-26 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>SAUDI RIYAL DEPOSITS STEADY IN DULL MARKET</TITLE>
<DATELINE>    BAHRAIN, April 26 - </DATELINE><BODY>Saudi riyal interbank deposits were
mainly steady at yesterday"s higher levels in a market which saw
little activity due to the European weekend, dealers said.
    They said banks in the kingdom offered two and three month
deposits 1/16 of a percentage point lower, but there were few
takers.
    Rates for short-dated and other fixed period funds were
little changed following their sharp rise on Saturday brought
on by higher eurodollar deposit rates.
    Spot-next and one-week deposits were relatively unchanged
at 6-3/4, 1/2 pct.
    One-month deposits were steady at 6-3/4, 1/2 pct while
three-month funds eased to 6-7/8, 5/8 pct from 6-15/16, 11/16.
    Six-month deposits also declined marginally to 7-5/16,
7-1/8 pct from quotes of 7-3/8, 1/8 at the close of trade on
Saturday.
    The spot riyal was steady at 3.7499/7504 to the dollar.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21827" NEWID="17205">
<DATE>26-APR-1987 06:24:19.96</DATE>
<TOPICS><D>trade</D><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>japan</D><D>usa</D><D>uk</D><D>canada</D><D>france</D><D>italy</D><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0062&#31;reute
u f BC-G-7-OFFICIALS-TO-DECI   04-26 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>G-7 OFFICIALS TO DECIDE ON SUMMIT AGENDA</TITLE>
<DATELINE>    OSAKA, Japan, April 26 - </DATELINE><BODY>Senior officials from the Group of
Seven (G-7) countries will meet next week to decide an agenda
for the body"s June summit scheduled to be held in Venice,
Japanese officials said.
    The meeting will provide senior government officials with
their first chance to discuss the recent sharp drop of the
dollar, although the main focus of the gathering is longer
term, they said.
    Deputy Finance Ministers, including Japanese Vice-Finance
Minister Toyoo Gyohten, will attend. The meeting will be held
in Italy, they said, but gave no other details.
    The leaders of the G-7, the United States, Britain, Canada,
France, Italy, Japan and West Germany, are expected to discuss
ways of improving economic policy coordination in Venice.
    The hope is that increased coordination will help reduce
the huge imbalances in world trade and calm volatile currency
markets. But economists say the strategy has so far not worked.
    Japanese officials admitted there is little more they can
do on their own to stem the dollar decline, which last week saw
the currency plunge to a post-war low below 140 yen.
    The officials said they expected sentiment against the
dollar to change soon, once the U.S. Trade deficit starts to
fall and the Japanese surplus begins to shrink.
    "We have already seen some signs of improvement (in the
trade picture), but the market does not appreciate it yet," one
said.
    Last week"s passage of the Japanese government budget by
parliament"s Lower House also paves the way for Tokyo to take
additional action to stimulate its sagging economy and boost
imports, the officials said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21828" NEWID="17206">
<DATE>26-APR-1987 06:44:58.79</DATE>
<TOPICS><D>gnp</D></TOPICS>
<PLACES><D>luxembourg</D><D>uk</D><D>france</D><D>west-germany</D></PLACES>
<PEOPLE><D>delors</D></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0065&#31;reute
u f BC-EC-MINISTERS-LIKELY-T   04-26 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>EC MINISTERS LIKELY TO CRITICISE FINANCE IDEAS</TITLE>
<DATELINE>    LUXEMBOURG, April 26 - </DATELINE><BODY>Plans for a new-style European
Community (EC) free of damaging budget wrangles receive their
first full review from EC foreign ministers today, but are
unlikely to gather much support.
    Diplomats said key EC capitals would voice strong criticism
of proposals that would lead to a sharp increase in EC budget
payments by bringing member states" contributions more into line
with national wealth.
    They said the EC"s current paymasters, Britain, France, and
West Germany, would lead the opposition to the plans, designed
to enable the community meet the challenges of the 1990s.
    Faced with a budget deficit this year of at least five
billion dlrs, EC Commission President Jacques Delors called in
February for a radical overhaul of the EC financing system.
    Such action was necessary, he argued, to end a damaging
cycle of annual budget crises and ensure cash for technological
research programs and regional and social spending projects.
    Ironically, diplomats said, the move could spark exactly
the type of row it was intended to avoid with industrially
developed northern states demanding assurances the new cash
would not be swallowed up by the poorer southern members.
    Delors" plans, by linking a country"s contributions to its
Gross National Product (GNP), would over the next five years
add some 18 billion dlrs to the present budget of 34 billion.
    Currently, contributions are calculated on a percentage of
Value Added Tax (VAT) returns.
    Under the new scheme, all countries would pay one pct of
their VAT receipts to Brussels. Extra cash would then be raised
in line with needs by a levy on the difference between a
country"s total VAT receipts and its GNP.
    London is one of the most resolutely opposed countries to
the scheme, arguing instead that money should be made available
from deep cutbacks in the EC"s heavily-subsidised farm sector.
    Unofficially many EC capitals secretly support the
wearisome budget wrangling, taking the line that the highly
diverse 12-nation Community can only take tough decisions when
forced to do so.
    The issue is further complicated by a possible general
election in Britain and acceptance that the EC problems cannot
seriously be addressed by London until those polls are out of
the way.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21829" NEWID="17207">
<DATE>26-APR-1987 07:50:48.05</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>china</D><D>taiwan</D><D>ussr</D><D>usa</D><D>vietnam</D><D>south-korea</D><D>philippines</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>adb-asia</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0069&#31;reute
u f BC-ADB-DELEGATES-GATHER   04-26 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>ADB DELEGATES GATHER IN JAPAN AMID CONTROVERSY</TITLE>
<AUTHOR>    By Chaitanya Kalbag, Reuters</AUTHOR>
<DATELINE>    OSAKA, Japan, April 26 - </DATELINE><BODY>Delegates from 46 countries are
gathering for the 20th meeting of the Asian Development Bank
(ADB) amid concern over the bank"s role in aiding regional
development.
    The three-day meeting, the first to be held in Japan since
the bank"s inaugural meeting in Tokyo in 1966, will open
tomorrow with political controversy dogging its heels.
    Taiwan, one of the ADB"s founders, will boycott the meeting
for the second year in succession in protest against China"s
admission last year.
    Taiwan, which borrowed only 100 mln dlrs or 0.51 pct of the
ADB"s total lending of 19.4 billion dlrs over the past 20 years,
is staying away because its name was changed by the bank to
"Taipei, China."
    But the boycott is likely to be overshadowed by the
presence of communist giants China and the Soviet Union.
    Moscow is attending an ADB meeting for the first time in
what is widely seen as a first step to eventual full
membership.
    China is expected to obtain its first loans from the bank
in 1987.
    A senior ADB official said Peking, now the bank"s third
largest shareholder after the United States and Japan, would
also take one of the 12 seats on the bank"s board of governors.
    The official, who declined to be identified, expected
sparks to fly when governors met in formal session on Tuesday.
    He said calls for expanded bank lending were expected from
poorer countries in the Asia-Pacific region, hit by plunging
commodity prices, tariff barriers in export markets, a growing
resources crunch and balance of payments crises.
    But the U.S. Delegation was likely to repeat warnings ADB
lending should stress quality over quantity, the official said.
    The debate over ADB lending is fuelled by the bank"s highly
successful money management.
    With liquid reserves of about four billion dlrs, profits
have been rising steadily and touched 287 mln dlrs last year.
    The key indicator of the ADB"s reduced role in regional
development is its net transfer of resources -- loan
disbursements less repayments made by borrowers -- which fell
sharply to 237 mln dlrs in 1986 from 421 mln in 1985.
    In 1986, the bank approved loans totalling two billion
dlrs, but only to 19 of its 29 developing members.
    ADB chief economist Kedar Nath Kohli told Reuters the bank"s
ordinary lending had declined each year since 1984.
    "I"m afraid if you exclude India and China, it"s going to go
down even further in 1987," Kohli said.
    Kohli said developing countries in the region were entering
a period of painful adjustments.
    He said one country that seemed to be on the right track
was South Korea, which had bucked the regional trend of rising
indebtedness by cutting its foreign debt by about two billion
dlrs last year.
    One country that has complained about the ADB's lending
policies is Vietnam, which charged at last year's meeting that
the bank had cut off its aid on political grounds.
    The bank abruptly halted loans to Hanoi after the fall of
the Saigon government in 1975. Despite Moscow's presence,
however, the bank is not expected to change its Vietnam policy.
    The Philippines, the ABD's second-largest borrower in 1986
with loans totalling 316 mln dlrs, is happy with the bank's
role.
    Finance Minister Jaime Ongpin told Reuters he expected the
figure would reach roughly the same level this year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21830" NEWID="17208">
<DATE>26-APR-1987 20:39:56.64</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0108&#31;reute
b f BC-BANK-OF-JAPAN-INTERVE   04-26 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF JAPAN INTERVENES IN TOKYO BUYING DOLLARS</TITLE>
<DATELINE>    TOKYO, April 27 - </DATELINE><BODY>The Bank of Japan intervened buying
dollars shortly after the opening of 137.70 yen, dealers said.
    Strong selling from life insurance companies and investment
trusts pressured the dollar downward, but the U.S. Unit
steadied on profit-taking buying by petroleum companies and
intervention by the central bank.
    The dollar's upward potential looks limited as forward
dollar selling by exporters for commercial purposes is expected
above 137.80, dealers said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21831" NEWID="17209">
<DATE>26-APR-1987 22:02:13.59</DATE>
<TOPICS><D>money-fx</D><D>dlr</D><D>yen</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>sumita</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0133&#31;reute
b f BC-SUMITA-SAYS-FURTHER-Y   04-26 0118</UNKNOWN>
<TEXT>&#2;
<TITLE>SUMITA SAYS FURTHER YEN RISE UNLIKELY - JIJI PRESS</TITLE>
<DATELINE>    OSAKA, April 27 - </DATELINE><BODY>Japan's Jiji Press quoted Bank of Japan
Governor Satoshi Sumita as telling Japanese reporters the
central bank will continue determined market intervention to
prevent a further rise in the value of the yen.
    Sumita, who is attending an annual meeting of the Asian
Development Bank, also said he does not think the yen will
continue to rise, Jiji reported. He said the Bank of Japan is
keeping close contact with other major industrial nations on
concerted market intervention, Jiji said. He said coordinated
intervention is the only way to stop the dollar from dropping
too fast, Jiji said. The dollar fell below 138 yen today.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21832" NEWID="17210">
<DATE>26-APR-1987 22:41:44.69</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>japan</D><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0158&#31;reute
b f BC-BUNDESBANK-INTERVENES   04-26 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>BUNDESBANK INTERVENES IN TOKYO VIA BANK OF JAPAN</TITLE>
<DATELINE>    TOKYO, April 27 - </DATELINE><BODY>The Bundesbank intervened in the Tokyo
foreign exchange market to buy a small amount of dollars
against marks through the Bank of Japan, dealers said.
    The West German central bank bought dollars when the dollar
was at about 1.7770-80 marks. Dealers' estimates of the
intervention amount varied from 100 mln to one billion dlrs.
    Some dealers said the Bank of Japan appeared to have
undertaken small-lot mark-selling intervention on its own
account.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21833" NEWID="17211">
<DATE>26-APR-1987 22:49:27.79</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>miyazawa</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0164&#31;reute
b f BC-MIYAZAWA-SAYS-POLICY   04-26 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>MIYAZAWA SAYS POLICY COORDINATION KEY TO CURRENCY</TITLE>
<DATELINE>    OSAKA, April 27 - </DATELINE><BODY>Japanese Finance Minister Kiichi Miyazawa
told a press conference the basic solution to currency
instability among major nations is economic policy
coordination.
    He said that is a time-consuming process as coordination
does not always proceed in a way policy makers envisage. "That
is democracy," he said. Upon that foundation, Miyazawa said,
there must be coordinated intervention. Major nations have
sufficient funds to continue concerted intervention, he added.
    "Without doubt this set-up of coordinated intervention will
continue to operate," Miyazawa said.
    Miyazawa said Prime Minister Yasuhiro Nakasone and U.S.
President Ronald Reagan are likely to reaffirm the Louvre and
Washington Group of Seven (G-7) agreements on currency
stability when they meet later this week.
    Asked whether the dollar is declining against all major
currencies, not only the yen, Miyazawa declined to make any
comments.
    He reiterated that many major nations have undertaken
coordinated intervention in recent weeks to prop up the dollar,
including countries who are not members of the G-7.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21834" NEWID="17212">
<DATE>26-APR-1987 22:57:22.08</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0173&#31;reute
b f BC-CSR-PLANS-TAKEOVER-BI   04-26 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>CSR PLANS TAKEOVER BID FOR MONIER</TITLE>
<DATELINE>    SYDNEY, April 27 - </DATELINE><BODY>CSR Ltd &lt;CSRA.S> said it plans to offer
3.50 dlrs a share cum-bonus for all the issued capital of
building products group Monier Ltd &lt;MNRA.S>.
    The offer values Monier's current issued capital of 156.28
mln shares at 547 mln dlrs and compares with the latest share
market price of 2.80 dlrs, equal to last Friday's close.
    Monier recently said it proposes to make a one-for-two
bonus issue before June 30.
    CSR will shortly announce further details of the offer
including a CSR share alternative, it said in a statement.
    CSR said it currently holds 323,000 Monier shares or only
0.21 pct of the company's issued capital.
    Redland Plc &lt;RDLD.L>, the holder of 49.87 pct of Monier,
has agreed with CSR that Redland will not accept the offer for
its stake initially, CSR said.
    Instead, CSR has granted Redland two alternative options,
the first giving Redland the right to accept the CSR offer at
the same price within six months of the closing date of the
bid, the company said.
    The second grants Redland the option to increase its Monier
holding to 50.1 pct in the same period.
    The second option is exercisable by Redland at 3.50 dlrs a
share, CSR said.
    Both option deals are subject to the approval of Monier
shareholders except CSR and Redland.
    As previously reported, Redland and Monier had been
discussing a possible Redland bid for Monier but the talks
broke off two weeks ago.
    CSR said Redland supports the CSR offer as a means of
establishing a fruitful joint venture in building materials in
which they both have interests. At the end of the offer, they
will discuss how these interests may be developed.
    Redland has indicated that it would be prepared to consider
at a later stage an increase in CSR's Monier stake to enable it
to become a CSR subsidiary, assuming Redland exercises the
second option, CSR said.
    It said the offer is generous because it will give Monier
shareholders a price equivalent to 16.8 times after-tax
earnings in 1985/86 ended June 30, a 25 pct premium over
Friday's market price and a 125 pct premium over last reported
net tangible asset backing per share of 1.57 dlrs.
    The offer is beneficial for both CSR and Monier
shareholders, CSR's chief executive officer Bryan Kelman said.
    "The acquisition will broaden CSR interests in building
materials by the addition of complementary domestic and
overseas businesses in concrete and clay tiles, metal roofing
materials and concrete blocks and piping," Kelman said in the
statement.
    "Importantly, the acquisition will provide CSR with new
growth opportunities in building materials both in Australia
and overseas," he added.
    Monier, which earned a net 32.49 mln dlrs in 1985/86, has
operations in a number of countries, including the U.S., Japan,
Britain and New Zealand, as well as Australia.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21835" NEWID="17213">
<DATE>26-APR-1987 23:26:24.51</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0189&#31;reute
b f BC-CORRECTION---BUNDESBA   04-26 0048</UNKNOWN>
<TEXT TYPE="UNPROC">&#2;
CORRECTION - BUNDESBANK INTERVENES IN TOKYO
    In the Tokyo item "/BUNDESBANK INTERVENES IN TOKYO VIA BANK
OF JAPAN," please read in the second para: "Dealers' estimates of
the intervention amount varied from 10 mln to 100 mln dlrs."
Corrects figures from 100 mln to one billion dlrs.
 REUTER
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21836" NEWID="17214">
<DATE>26-APR-1987 23:32:09.99</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>adb-asia</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0193&#31;reute
u f BC-USSR-ATTENDS-ADB-MEET   04-26 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>USSR ATTENDS ADB MEET, UNCERTAIN ON MEMBERSHIP</TITLE>
<AUTHOR>    By Rich Miller, Reuters</AUTHOR>
<DATELINE>    OSAKA, Japan, April 27 - </DATELINE><BODY>The Soviet Union is attending an
Asian Development Bank (ADB) annual general meeting for the
first time, but has not decided whether to apply for
membership, a senior Soviet State Bank official said.
    "No specific plans exist for applying for membership," Yurij
Ponomarev, international managing director of the State Bank,
told Reuters. "It's too early to draw up any plans."
    The USSR is attending the 20th meeting as an observer.
    "The sole purpose is to observe and collect information
first hand," Ponomarev said.
    He said the Soviet Union was responding to a long-standing
ADB invitation to attend the meetings.
    "This is one of the fastest growing regions in the world,"
the State Bank official said. "It is in our interest to have
good contacts."
    But those strengthened contacts will not be made at the
expense of the Soviet Union's other relationships, he said.
    Delegates here said the USSR move was connected to recent
efforts to develop closer ties with Asia. The policy was
announced last year by Soviet leader Mikhail Gorbachev in a
speech at Vladivostok.
    Moscow's decision to attend the meetings follows its
application last year for membership of the General Agreement
on Tariffs and Trade (GATT).
    Delegates said the USSR faces lacklustre growth and is
searching for ways to boost its economy.
    Although the ADB said political ideology is not a critiera
for membership, several delegates said politics would play a
large role in any decision to allow Moscow to join.
    Moscow's application would have to be approved by
two-thirds of the board of governors representing
three-quarters of the total voting power of member countries.
    The basic votes of the 47 members are all equal and total
one-fifth of all votes. The remainder are proportional to the
number of shares held by each member.
    Japan is the largest shareholder, at 15.1 pct, followed by
the U.S. With 14.9 pct and China with 7.2 pct.
    The U.S. Has more than 12 pct of the total votes,
insufficient to block a Moscow membership bid.
    Japanese officials said Tokyo has not decided its position
regarding the possibility of Soviet membership and said they
noted the Soviets had not yet made any move to join.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21837" NEWID="17215">
<DATE>26-APR-1987 23:42:23.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f0201&#31;reute
u f BC-RAINFALL-EASES-DROUGH   04-26 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>RAINFALL EASES DROUGHT IN NORTH CHINA</TITLE>
<DATELINE>    PEKING, April 27 - </DATELINE><BODY>Spring rain in the last few days has
helped ease a serious drought in most of north China, the New
China News Agency said.
    It said rain fell in Peking, Shandong, Hebei, Henan,
Shanxi, Shaanxi, Qinghai, Sichuan and parts of Inner Mongolia.
It said the drought in Shanxi, north Hebei, north Shaanxi and
Peking has basically ended.
    But snowfalls of 10 mm have affected spring sowing in
Liaoning, struck by abnormally cold and warm weather since
January, including rainfall 10 times more than normal in some
places, it said, but gave no more details.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21838" NEWID="17216">
<DATE>27-APR-1987 00:44:20.00</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE><D>nakasone</D><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0017&#31;reute
u f BC-U.S.-MAY-TELL-JAPAN-S   04-27 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. MAY TELL JAPAN SANCTIONS CAN END - NY TIMES</TITLE>
<DATELINE>    NEW YORK, April 27 -  </DATELINE><BODY>President Reagan is expected to tell
Prime Minister Yasuhiro Nakasone this week that the U.S. May be
able to lift trade sanctions against Japan by the end of June,
the New York Times said.
    The newspaper, quoting administration officials, said that
under such a scenario the President would announce just before
the June 8-10 economic summit meeting in Venice that he hoped
to lift the restrictions on electronics imports by the end of
the month. Japan, for its part, would have to show that it had
stopped underpricing semiconductors and had widened access in
Japan for U.S. Chip producers.
    The U.S. Administration imposed 100 pct tariffs on 300 mln
dlrs worth of Japanese color television sets, motorised tools
and personal computers on April 17.
    Japanese officials have said Nakasone's main demand when he
arrives for talks with Reagan on Wednesday would be the
immediate lifting of the tariffs.
    But with Congress planning further trade reprisals against
Japanese trade policies, the end-of-June timeframe is seen as
the best Reagan can offer, the Times said. It said some verbal
formulation was expected to be found in a communique that would
allow Nakasone to claim at least a modest victory.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21839" NEWID="17217">
<DATE>27-APR-1987 00:48:57.77</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>philippines</D></PLACES>
<PEOPLE><D>ongpin</D></PEOPLE>
<ORGS><D>adb-asia</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0020&#31;reute
u f BC-PHILIPPINES-TO-GET-30   04-27 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILIPPINES TO GET 300 MLN DLR JAPANESE LOAN</TITLE>
<DATELINE>    OSAKA, Japan, April 27 - </DATELINE><BODY>The Philippines has received a 300
mln dlr loan from the Japanese Export-Import Bank, Philippine
Finance Minister Jaime Ongpin told Reuters.
    Ongpin said the loan, carrying interest of 5.5 pct a year,
matches a 300 mln dlr economic recovery loan approved by the
World Bank in March.
    Ongpin said Japanese Finance Minister Kiichi Miyazawa
expressed satisfaction at the recent rescheduling of the
Philippines' 10.3 billion dlr foreign debt during a meeting
here yesterday. The 14th yen aid package from Japan's Overseas
Economic Cooperation Fund was also discussed.
    Ongpin said the Japan is expected to respond favourably to
a Philippine request to raise the aid level to between 75 and
80 billion yen.
    The aid package, originally scheduled for Japan's 1986/87
fiscal year ended March, was delayed because of the
Philippines' change of government last year.
    "The Japanese have indicated we may not get as much as we
are asking for in one big jump from the 13th yen package of 49
billion yen," he said. "But they are likely to bring it up to
that level for the 15th package."
    Ongpin said Manila had 14 projects in the pipeline for the
14th yen package.
    "We are trying get the 15th package mainly in the form of
untied commodity loans," he said.
    Discussion on a Philippine request for 500 mln dlrs in soft
loans to finance a land reform program, for which Japan is
expected to supply most of the financing, had been put off
until next month because of delays in preparatory work.
    Ongpin said he will make a strong pitch for the land reform
program in his speech on Tuesday at the 20th annual meeting of
the Asian Development Bank (ADB) here.
    Ongpin said the Philippines is very happy about the ADB's
support after President Corazon Aquino took over from deposed
leader Ferdinand Marcos.
    "But I would like to see them push more aggressively in the
field of lending to the private sector," he said.
    The Philippines was the bank's second-biggest borrower
after Pakistan in 1986, with loans totalling 316 mln dlrs.
    Ongpin said he expects ADB lending to the Philippines in
1987 to reach the same level.
    "They have told us they can lend us two billion dlrs if we
want. But we have to come up with the projects," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21840" NEWID="17218">
<DATE>27-APR-1987 00:53:25.17</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>australia</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0024&#31;reute
u f BC-U.S.-TREASURY-SECRETA   04-27 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. TREASURY SECRETARY CANCELS TRIP TO AUSTRALIA</TITLE>
<DATELINE>    WASHINGTON, April 27 - </DATELINE><BODY>U.S. Treasury Secretary James Baker
has cancelled a trip to Australia because of pressing business
at home, including the visit this week by Japanese Prime
Minister Yasuhiro Nakasone, a Treasury spokesman said.
    The spokesman, who asked not to be identified, said, "I
would not draw any conclusion from the cancellation ... I would
just say it's the press of business."
    He said Nakasone's visit was "part of the press of business"
but denied the cancellation was linked to the current turmoil
in the financial markets.
 REUTER                                    
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21841" NEWID="17219">
<DATE>27-APR-1987 01:08:32.41</DATE>
<TOPICS></TOPICS>
<PLACES><D>indonesia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f0034&#31;reute
u f BC-STRONG-INDONESIAN-EAR   04-27 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>STRONG INDONESIAN EARTHQUAKE LEADS TO FLOOD FEARS</TITLE>
<DATELINE>    JAKARTA, April 27 - </DATELINE><BODY>Fresh tremors hit the northern area of
the Indonesian island of Sumatra after an earthquake measuring
6.6 on the Richter scale yesterday and local officials told
Reuters they fear flooding after a dam was cracked.
    Contacted by telephone, they said the area around the town
of Tarutung, south of the city of Medan and about 560 km west
of Singapore, was shaken by more tremors this morning.
    The dam on the Sigeon river is leaking and there is a
possibility of flooding if it rains in the next few days before
repairs can be made, they said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21842" NEWID="17220">
<DATE>27-APR-1987 01:11:59.67</DATE>
<TOPICS></TOPICS>
<PLACES><D>egypt</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>imf</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0036&#31;reute
u f BC-EGYPT-SEEKS-ARAB-FUND   04-27 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>EGYPT SEEKS ARAB FUNDS TO BUY ITS MILITARY DEBTS</TITLE>
<DATELINE>    CAIRO, April 27 - </DATELINE><BODY>Egypt is trying to persuade Arab states
and banks to buy its military debts to the United States and
other Western countries so it can repay them on better terms,
an Egyptian official said.
    "We want the Arabs to buy the debt and reschedule it at a
more reasonable interest rate of up to seven pct," the official,
who asked not to be named, told Reuters.
    Egypt owes the U.S. 4.5 billion dlrs in military debt and
has failed to persuade Washington to reduce interest rates on
it averaging about 14 pct.
    Eqypt also owes France an undisclosed amount, estimated by
Arab diplomats at over two billion dlrs, and has not serviced
the debt for over a year. Other military debts are owed to
Spain, West Germany and Britain.
    The official said negotiations on the possibility of buying
the debt have started, with approaches made to Kuwait and Saudi
Arabia, but no firm decisions have been reached.
    The official also said the International Monetary Fund
(IMF) and Egypt have agreed on certain economic reforms in
return for emergency funds. An accord with the IMF would open
the way for Cairo to reschedule its 40 billion dlr debt.
    The official said the IMF agreement requires Egypt to raise
energy prices to international levels, unify its multi-tiered
foreign exchange system and raise interest rates.
    "Egypt will seek loans from various countries immediately
after the agreement with the IMF is signed," he said.
    "If an Arab country buys part of the military debt or gives
us guarantees, it will encourage banks to step in," he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21843" NEWID="17221">
<DATE>27-APR-1987 01:16:14.62</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>pakistan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T C
&#22;&#22;&#1;f0040&#31;reute
r f BC-FIRE-DAMAGES-PAKISTAN   04-27 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRE DAMAGES PAKISTAN SUGAR STOCK</TITLE>
<DATELINE>    KARACHI, April 27 - </DATELINE><BODY>A fire damaged a large stock of
imported sugar stored in a customs warehouse at Karachi on
Saturday night, customs officials said.
    They said the warehouse contained about 15,000 tonnes of
sugar in 150,000 bags but they did not know how much had been
destroyed or damaged. They said the cause of the fire was
unknown.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21844" NEWID="17222">
<DATE>27-APR-1987 01:18:54.86</DATE>
<TOPICS><D>interest</D><D>gnp</D></TOPICS>
<PLACES><D>malaysia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0043&#31;reute
u f BC-MALAYSIA-MAY-CUT-BASE   04-27 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>MALAYSIA MAY CUT BASE LENDING RATE IN JUNE</TITLE>
<DATELINE>    KUALA LUMPUR, April 27 - </DATELINE><BODY>Malaysia may cut its base lending
rate by 0.75 to one percentage point from a current 8.5 pct in
June to stimulate economic growth, Finance Minister Daim
Zainuddin said.
    The last cut, of 0.5 pct, was effected by banks and finance
companies on April 1 following a Central Bank directive.
    The lending rate has been declining in recent months
because the Central Bank has injected more funds into the
economy, Daim told an assembly of the dominant Malay-based
United Malays National Organisation party.
    Daim, who is also the party's Treasurer General, said
Malaysia's gross domestic product growth in 1987 is likely to
exceed the one pct forecast in his 1987 budget presented last
year. He gave no details of the expected rise.
    GDP growth in 1986 was 0.5 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21845" NEWID="17223">
<DATE>27-APR-1987 01:28:05.50</DATE>
<TOPICS><D>jobs</D></TOPICS>
<PLACES><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0046&#31;reute
u f BC-TAIWAN-UNEMPLOYMENT-F   04-27 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN UNEMPLOYMENT FALLS IN MARCH</TITLE>
<DATELINE>    TAIPEI, April 27 - </DATELINE><BODY>Taiwan's unemployment rate fell to 2.03
pct of the labour force in March from 2.37 pct in February and
2.79 pct in March 1986, the government statistics department
said.
    A department official said the decline was due to rising
employment in the manufacturing sector, including textiles and
footwear.
    The unemployed totalled 163,000 in March against 193,000 in
February and 216,000 in March 1986.
    The labour force fell to 8.03 mln in March from 8.14 mln in
February and 7.74 mln in March 1986, it said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21846" NEWID="17224">
<DATE>27-APR-1987 01:29:37.16</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>japan</D><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM M C
&#22;&#22;&#1;f0047&#31;reute
r f BC-JAPANESE-FIRMS-TO-SEL   04-27 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPANESE FIRMS TO SELL AUSTRALIAN GOLD COINS</TITLE>
<DATELINE>    TOKYO, April 27 - </DATELINE><BODY>Three Japanese trading companies and one
coin retailer will start selling Australia's Nugget gold coins
in Japan from May 12 after actively buying at the first
international trading of the coins last Thursday, officials
involved in the sale said.
    They estimated Japanese companies bought 30 pct of 155,000
ounces sold on Thursday.
    The coins are likely to be sold in Japan at prices similar
to the South African krugerrand.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21847" NEWID="17225">
<DATE>27-APR-1987 01:31:05.62</DATE>
<TOPICS><D>nat-gas</D></TOPICS>
<PLACES><D>algeria</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0048&#31;reute
u f BC-ALGERIA-SIGNS-MAJOR-L   04-27 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>ALGERIA SIGNS MAJOR LNG DEAL WITH U.S. GROUP</TITLE>
<DATELINE>    ALGIERS, April 27 - </DATELINE><BODY>Algeria's national petroleum agency
Sonatrach and the U.S. Panhandle-Trunkline &lt;PEL.N> group signed
a 20-year accord for the delivery of liquefied natural gas
(LNG), the official APS news agency said.
    Deliveries will start next winter and rise over three years
to reach 4.5 billion cubic metres annually, with 60 pct of the
gas carried in Algerian ships to a terminal at Lake Charles,
La., APS said.
   APS said the pricing formula will "preserve the purchasing
power of LNG and the interests of Sonatrach, and take into
account ... The world (and) the American market."
    The agreement follows months of negotiations between
Panhandle Eastern Petroleum Corp and Sonatrach over the new LNG
contract.
    The talks followed an accord in July 1986 which resolved a
long-standing dispute between Sonatrach and Panhandle
subsidiary &lt;Trunkline Gas Co> after the U.S. Group unilaterally
suspended purchases of Algerian LNG.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21848" NEWID="17226">
<DATE>27-APR-1987 01:33:55.58</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>tse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0050&#31;reute
u f BC-FOREIGN-INVESTORS-NET   04-27 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>FOREIGN INVESTORS NET SELLERS OF JAPANESE STOCKS</TITLE>
<DATELINE>    TOKYO, April 27 - </DATELINE><BODY>Foreigners were net sellers of Japanese
stocks in the week ended April 17 for the seventh consecutive
week, the Tokyo Stock Exchange said.
    Net sales were 112.15 billion yen against 105.80 billion
the previous week.
    Overseas investors sold shares worth 727.08 billion yen on
the Tokyo, Osaka and Nagoya Exchanges, down 5.3 pct from the
previous week. They bought stock worth 614.93 billion yen, down
5.2 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21849" NEWID="17227">
<DATE>27-APR-1987 01:42:06.31</DATE>
<TOPICS></TOPICS>
<PLACES><D>barbados</D><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0056&#31;reute
u f BC-LATIN-AMERICAN,-SPANI   04-27 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>LATIN AMERICAN, SPANISH BANK GOVERNORS TO MEET</TITLE>
<DATELINE>    BRIDGETOWN, Barbados, April 27 - </DATELINE><BODY>Central bank governors
from Spain, Latin America and the Caribbean will meet here this
week for two separate conferences on finance and monetary
problems, the Central Bank of Barbados said.
    The 24th session of Central Bank governors of the American
continent opens today for two days and the central bank
governors of Latin America and Spain will hold a separate
conference from April 29-30.
    Representatives of the Inter-American Development Bank, the
International Monetary Fund and other international financial
organisations will attend both conferences.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21850" NEWID="17228">
<DATE>27-APR-1987 02:00:12.82</DATE>
<TOPICS><D>alum</D><D>iron-steel</D><D>pet-chem</D></TOPICS>
<PLACES><D>venezuela</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM M C
&#22;&#22;&#1;f0063&#31;reute
u f BC-VENEZUELA-FINANCE-MIN   04-27 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>VENEZUELA FINANCE MINISTER TO SEEK JAPANESE CREDIT</TITLE>
<DATELINE>    CARACAS, April 27 - </DATELINE><BODY>Finance minister Manuel Azpurua said he
will visit Japan in mid-May to seek new credits for planned
expansion in Venezuela's state-owned aluminum, steel and
petrochemical industries.
    Azpurua told reporters he will be accompanied by central
bank president Hernan Anzola and director of public finance
Jorge Marcano.
    "The idea is to hold meetings with Japanese economic and
financial authorities, with the banks which have business and
credits in Venezuela and with some of the Japanese companies
already active here," Azpurua said.
    Azpurua said he was optimistic about the trip, in light of
Japan's recent announcement it will disburse 30 billion dlrs in
new credit to Latin American countries.
    "I think this trip is being taken at an opportune time and
will allow us to reveal the potencial which this country holds
for the Japanese economic community," Azpurua said.
    He would not say how much Venezuela will seek in credits
from Japan.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21851" NEWID="17229">
<DATE>27-APR-1987 02:21:13.19</DATE>
<TOPICS><D>ipi</D><D>inventories</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0073&#31;reute
b f BC-JAPAN-INDUSTRIAL-PROD   04-27 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN INDUSTRIAL PRODUCTION RISES IN MARCH</TITLE>
<DATELINE>    TOKYO, April 27 - </DATELINE><BODY>Japan's preliminary industrial production
index (base 1980) rose 0.7 pct to a seasonally adjusted 122.8
in March from the previous month, the Ministry of International
Trade and Industry said.
    Production had fallen 0.2 in Feburary from a month earlier.
    The preliminary, unadjusted March index fell 0.2 pct from a
year earlier after remaining flat in Feburary.
    The adjusted March producers' shipment index (same base)
fell 0.6 to 117.3 from February. The unadjusted index rose 0.3
pct from a year earlier.
    The adjusted March index of producers' inventories of
finished goods (same base) rose 0.7 pct to 105.4 from Feburary.
The unadjusted index fell 1.1 pct from a year earlier.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21852" NEWID="17230">
<DATE>27-APR-1987 02:30:57.13</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0077&#31;reute
b f BC-BANK-OF-JAPAN-INTERVE   04-27 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF JAPAN INTERVENES IN TOKYO</TITLE>
<DATELINE>    TOKYO, April 27 - </DATELINE><BODY>The Bank of Japan intervened in the
market, buying a moderate amount of dollars around 137.80-85
yen, dealers said.
    Some dealers noted talk that the Bundesbank intervened here
directly buying dollars against marks, after reports that it
intervened through the Bank of Japan in the morning.
    The dollar moved up on short-covering aided by the central
bank intervention, they said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21853" NEWID="17231">
<DATE>27-APR-1987 02:37:14.92</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>hong-kong</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0079&#31;reute
b f BC-BALDRIGE-SAYS-FURTHER   04-27 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>BALDRIGE SAYS FURTHER DOLLAR FALL NOT PRODUCTIVE</TITLE>
<DATELINE>    HONG KONG, April 27 - </DATELINE><BODY>The U.S. Secretary of Commerce
Malcolm Baldrige said a further decline of the dollar would not
be productive.
    He told reporters here that Treasury Secretary James Baker
"feels, and I feel the same way, that a further dollar fall
would be counterproductive."
    Baldrige also said governments cannot determine long-term
currency exchange rates and that currencies would eventually
reflect underlying economic fundamentals.
    The U.S. Commerce Secretary is in Hong Kong after stops in
Peking and Seoul on an Asian trade tour.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21854" NEWID="17232">
<DATE>27-APR-1987 02:42:56.63</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0084&#31;reute
u f BC-C.-ITOH-TO-BUY-CRAY-S   04-27 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>C. ITOH TO BUY CRAY SUPERCOMPUTER</TITLE>
<DATELINE>    TOKYO, April 27 - </DATELINE><BODY>C. Itoh and Co Ltd &lt;CITT.T> said in a
statement it has agreed in principle to buy a Cray Research Inc
&lt;CYR> X-MP supercomputer worth 8.3 mln dlrs.
    The computer will be paid for and used by the Century
Research Center (CRC), a research body specialising in civil
engineering, in which C. Itoh has a 36.2 pct stake, a company
spokesman said. The final contract will be signed on May 15 and
delivery is scheduled for December this year.
    The U.S. Administration has been urging Japan to buy more
U.S. Supercomputers to help relieve trade friction and reduce
Japan's trade surplus with the U.S.
    The supercomputer will the eighth such machine sold to a
Japanese concern, the spokesman said.
    He said Cray has about 70 pct of the world supercomputer
market but under 10 pct in Japan.
    Fujitsu Ltd dominates the Japanese market for such
machines, industry sources said.
    Nippon Telegraph and Telephone Corp, which bought a Cray
supercomputer in 1984 when it was publicly-owned, is the only
government-owned entity to have done so. Trade Minister Hajime
Tamura was quoted as saying last week that the government is
considering buying U.S. Supercomputers.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21855" NEWID="17233">
<DATE>27-APR-1987 02:44:18.17</DATE>
<TOPICS><D>money-supply</D></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0087&#31;reute
u f BC-CHINA-CALLS-FOR-CAUTI   04-27 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA CALLS FOR CAUTION ON NEW CREDIT INSTRUMENTS</TITLE>
<DATELINE>     PEKING, April 27 - </DATELINE><BODY>A Chinese newspaper said the country
must be careful about introducing credit instruments to avoid
the risk of an uncontrolled credit expansion.
    It said: "The introduction of credit, while undoubtedly
facilitating business, could result in unhealthy expansion of
the volume of money in circulation..." adding that the ordinary
consumer must learn how to use credit wisely.
     The paper said in an editorial that "a sound approach and
one that will not entail the risks of introducing uncontrolled
expansion of credit into the monetary system is the present one
of issuing renminbi in larger denomications."
    Today, the first two of nine new bank notes, including
notes for 50- and 100-yuan were introduced. The largest
denomination had been 10 yuan.
    The paper said the new notes are necessary because of the
rapid development of the economy, which has made it
inconvenient to carry large amounts of cash in small
denominations.
    Economists have been urging that personal cheques, buying
on instalment, letters of credit and credit cards be introduced
more widely, it added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21856" NEWID="17234">
<DATE>27-APR-1987 03:06:12.08</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>india</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>adb-asia</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0117&#31;reute
u f BC-INDIAN-BORROWING-FROM   04-27 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>INDIAN BORROWING FROM ADB SEEN RISING</TITLE>
<AUTHOR>    By Chaitanya Kalbag, Reuters</AUTHOR>
<DATELINE>    OSAKA, Japan, April 27 - </DATELINE><BODY>India, which received its first
loans from the Asian Development Bank (ADB) in 1986, expects to
increase borrowing this year, an Indian official said.
    The official, a member of the Indian delegation at the
ADB's annual meeting here, told Reuters the bank is likely to
approve three loans totalling between 350 and 400 mln dlrs in
1987, up from the 250 mln in two loans in 1986.
    The official said negotiations on a 100 mln dlr loan for
the modernisation of the Haldia and Madras ports had been
completed and only need approval by the bank's board.
    The official said an ADB team is now in India for a survey
of the second project involving imports of railway locomotives.
He said the bank was also likely to extend a credit line to the
Industrial Development Bank of India.
    The ADB in 1986 extended a 100 mln dlr line of credit to
state-owned Industrial Finance Corp of India.
    The official said the ADB wants to gradually expand lending
to India. "They (the bank) do not want their traditional
borrowers from smaller countries in the region to get
overwhelmed by (India and China)," he said. China is expected to
receive its first ADB loan this year.
    "We are quite satisfied at having opened this new window in
borrowing," the official said. "Our projects are being vetted
quickly. We have no complaints."
    He said the ADB in any case would not be able to match
Indian borrowing needs.
    "In fiscal 1986/87 ending June India will borrow two billion
dlrs from the World Bank alone," he said.
    "That represents the total ADB lending to all its borrowers
in 1986."
    The official said total Indian development assistance from
multilateral and bilateral creditors is likely to total four
billion dlrs in 1986/87.
    Asked to comment on U.S. Criticism of the quality of ADB
lending, the official said: "The ADB is a regional bank and
ought to have a better understanding of realities in Asia."
    "You cannot apply World Bank conditionalities everywhere," he
said. "The U.S. Cannot impose one yardstick for every country."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21857" NEWID="17235">
<DATE>27-APR-1987 03:15:44.58</DATE>
<TOPICS></TOPICS>
<PLACES><D>taiwan</D><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>adb-asia</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0135&#31;reute
u f BC-TAIWAN-ACCUSES-CHINA   04-27 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN ACCUSES CHINA OF UNDERMINING ITS ADB STATUS</TITLE>
<DATELINE>    TAIPEI, April 27 - </DATELINE><BODY>Taiwan accused China of trying to
downgrade its international status by forcing the Asian
Development Bank (ADB) to change its name in the organisation.
    Taiwan is boycotting the annual meeting of the ADB, which
opened in Tokyo today, in protest at the Bank's decision to
change its name to "Taipei, China" from "Republic of China" after
admitting China as a member.
    "It is a plot by China to downgrade Taiwan's status in the
organisation," Foreign Ministry spokesman Cheyne Chiu told a
news conference.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21858" NEWID="17236">
<DATE>27-APR-1987 03:28:31.23</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>herrington</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0153&#31;reute
u f BC-U.S.-CONSIDERING-OIL   04-27 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. CONSIDERING OIL INDUSTRY TAX INCENTIVES</TITLE>
<DATELINE>    HOUSTON, April 27 - </DATELINE><BODY>The Reagan Administration is
considering tax incentives to boost oil output and restore
100,000 jobs, U.S. Energy Secretary John Herrington said.
    A tax credit for new exploration would be part of a package
to bring 1,000 idle drilling rigs back into operation and raise
domestic production by one mln barrels a day, he said.
    The tax status of exploration might also be changed,
Herrington told reporters at the World Petroleum Congress.
    He said the oil industry was experiencing difficult times
internationally and had been devastated in the United States.
    Consumer demand and a significant decline in domestic
production has resulted in a rise in oil imports of one mln
barrels a day in over the last 16 months, Herrington said.
    "Steps must be taken...To reverse the downturn in our
domestic energy industry and to safeguard and increase our
energy security," he said.
    The administration is committed to improving marketplace
conditions and incentives to spur exploration and development.
    "This commitment includes rejecting quick fix solutions,
like an oil import fee, which are bad for the United States and
bad for the world," he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21859" NEWID="17237">
<DATE>27-APR-1987 03:37:56.22</DATE>
<TOPICS><D>bop</D><D>trade</D></TOPICS>
<PLACES><D>bangladesh</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0166&#31;reute
u f BC-BANGLADESH-PAYMENTS-D   04-27 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>BANGLADESH PAYMENTS DEFICIT NARROWS IN NOVEMBER</TITLE>
<DATELINE>    DHAKA, April 27 - </DATELINE><BODY>Bangladesh's overall balance of payments
deficit narrowed to 3.03 mln U.S. Dlrs in November from 8.3 mln
in October and 22.63 mln in November 1985, Central Bank
officials said.
    The current account deficit increased to 28.68 mln dlrs in
November against 10.69 mln in October and 55.19 mln in November
1985.
    The trade deficit rose to 88 mln dlrs from 36.36 mln in
October and 86.2 mln in November 1985.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21860" NEWID="17238">
<DATE>27-APR-1987 03:47:51.53</DATE>
<TOPICS><D>zinc</D></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f0181&#31;reute
b f BC-WORLD-MARCH-ZINC-SMEL   04-27 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>WORLD MARCH ZINC SMELTER STOCKS FALL 31,800 TONNES</TITLE>
<DATELINE>    EINDHOVEN, April 27 - </DATELINE><BODY>Total world closing stocks of primary
zinc at smelters, excluding Eastern Bloc countries, fell 31,800
tonnes to 432,800 tonnes in March from a corrected February
figure of 464,600 tonnes, provisional European Zinc Institute
figures show.
    This compares with 403,300 tonnes in March last year.
    Total European stocks of primary zinc, excluding
Yugoslavia, fell 10,100 tonnes to 149,900 tonnes in March from
160,000 tonnes in February, against 131,300 tonnes in March
last year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21861" NEWID="17239">
<DATE>27-APR-1987 03:51:50.46</DATE>
<TOPICS><D>cpi</D></TOPICS>
<PLACES><D>venezuela</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0185&#31;reute
u f BC-VENEZUELA-PREPARING-N   04-27 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>VENEZUELA PREPARING NEW WAGE, INFLATION PLAN</TITLE>
<DATELINE>    CARACAS, April 27 - </DATELINE><BODY>President Jaime Lusinchi is preparing
an economic package in response to demands from organised
labour in Venezuela for a general wage increase and controls on
inflation, the state news agency Venpres reported.
    Venpres said the plan includes pay hikes and a "strategy
against indiscriminate increases in prices or speculation."
    The Venezuelan Workers Confederation (CTV), the country's
largest labour group, last week proposed a general wage
increase of between 10 and 30 pct and a six-month freeze on
consumer prices and on layoffs.
    The CTV asked Lusinchi to respond to its proposal before
the May 1 Workers' Day holiday.
    Labour's demands comes as private economists forecast
inflation will reach between 25 and 30 pct in 1987 as the
country begins to feel the effects of the December devaluation
of the bolivar by 100 pct against the dollar.
    Inflation increased 4.2 pct in the first two months of
1987, almost double the rate in the same 1986 period.
    Venpres said Lusinchi is prepared to approve some price
increases, but intends to protect the public against
speculation and indiscriminate hikes in the cost of living.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21862" NEWID="17240">
<DATE>27-APR-1987 03:55:26.22</DATE>
<TOPICS><D>money-fx</D><D>dlr</D><D>interest</D></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE><D>miyazawa</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0189&#31;reute
b f BC-MIYAZAWA-DOES-NOT-THI   04-27 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>MIYAZAWA DOES NOT THINK DOLLAR IN FREEFALL</TITLE>
<DATELINE>    TOKYO, April 27 - </DATELINE><BODY>Japanese Finance Minister Kiichi Miyazawa
told a parliamentary Upper House budget committee that he does
not think the dollar is in a freefall.
    He said concerted intervention is only a supplementary
measure to moderate volatility in exchange rates and repeated
that policy coordination among major industrial nations is
necessary. "We cannot expect currency stability only through
coordinated market intervention," he said.
    Miyazawa also told the committee the U.S. Has not called on
Japan to cut its 2.5 pct discount rate.
    Miyazawa said the government is not considering investing
in U.S. Government bonds to help stabilize exchange rates. This
matter has to be dealt with carefully because it involves the
public's money and exchange rates are moving widely, he added.
    The ministry will consider where to invest its funds when
exchange rates become stable, he said.
    Asked if Japan is considering a request to the U.S. For it
to raise its discount rate to stabilize exchange rates,
Miyazawa said the U.S. Has not been able to take action now
because it has to maintain its economic growth.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21863" NEWID="17241">
<DATE>27-APR-1987 03:59:25.25</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T C
&#22;&#22;&#1;f0196&#31;reute
u f BC-SOAKING-RAINS-BOOST-D   04-27 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>SOAKING RAINS BOOST DRY AUSTRALIAN SUGAR CANE AREA</TITLE>
<DATELINE>    SYDNEY, April 27 - </DATELINE><BODY>Good soaking rain is boosting the sugar
cane crop in the key Mackay region of Queensland following a
prolonged dry spell relieved only by intermittent falls, an
Australian Sugar Producers Association spokesman told Reuters.
    The rains began late last week, developed into heavy
downpours over the weekend and are continuing today, he said
from Brisbane.
    The Mackay and Burdekin regions, which together grow about
half the Australian cane crop, have been the Queensland cane
areas hardest hit by unseasonal dry weather since December.
    The spokesman said the rain missed the Burdekin area, just
to the north of the Mackay region on the central Queensland
coastal fringe, although recent light showers have freshened
the crop there.
    Owing to the dry spell in the Mackay and Burdekin areas,
the overall 1987 Australian cane crop is likely to be below the
25.4 mln tonnes crushed in 1986 for a 94 net titre raws outturn
of 3.37 mln tonnes, he said.
    But any decline will not be as great as seemed likely a
couple of months ago when it appeared the Mackay-Burdekin crops
were going to suffer badly, he said.
    Preliminary crop estimates are expected to be available
early next month, the spokesman said.
    The crush in the Mackay-Burdekin is likely to start later
this year, in late June or early July against mid-June last
year, to allow the cane to grow and sweeten further, he said.
    The crush normally runs to around the end of December.
    Elsewhere in the sugar belt, the cane is doing well, with
some mill areas expecting record crops, he said.
    Industry records show variations in the crop are not always
mirrored in raws output. In 1985, 24.4 mln tonnes of sweeter
cane than in 1986 produced 3.38 mln tonnes of raws.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21864" NEWID="17242">
<DATE>27-APR-1987 04:00:37.90</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0197&#31;reute
u f BC-BUNDESBANK-CALL-TO-BO   04-27 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>BUNDESBANK CALL TO BONN ON OVER-SPENDING RISKS</TITLE>
<DATELINE>    FRANKFURT, April 27 - </DATELINE><BODY>The Bundesbank urged the West German
government not to relax efforts to rein in spending when taxes
are cut in a 1990 fiscal reform package, saying that higher
expenditure could lead to a dangerous rise in interest rates.
    The Bundesbank's 1986 annual report said the government's
choice of measures to compensate for any cut in tax income was
a key political task. "There will also be consequences for the
state's attitude on spending," it said.
    It added that, while tax cuts should have a stimulatory
effect on the economy, the government should not expect any
significant increase in tax income in the short-term.
    The reform will cut taxes by a gross 44 billion marks, of
which 19 billion marks will be financed through as yet
unspecified measures.
    The Bundesbank noted that reducing tax preferences and
financial grants as well as raising some indirect taxes were
being considered.
    "As experience shows that a tax cut is not self-financing
... The question remains of how the rest of the tax cuts will
be financed," the Bundesbank said.
    The Bundesbank noted that in 1986, spending had increased
by more than the three pct annual average rise for 1982 to
1986. If this three pct limit were exceeded over a long period,
there would be a danger that increased new borrowing would be
necessary to finance deficits.
    It added that interest rates in West Germany were now low,
partly because of a high influx of foreign funds. But the
situation would become more difficult if the government's
credit requirements increased massively. "The anticipated
stimulatory effects on the economy from the tax cuts could be
thrown into jeopardy by higher interest rates," it said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21865" NEWID="17243">
<DATE>27-APR-1987 04:02:40.00</DATE>
<TOPICS><D>bop</D><D>trade</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0202&#31;reute
u f BC-GERMAN-TRADE-SURPLUS   04-27 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN TRADE SURPLUS SHOULD NARROW, BUNDESBANK SAYS</TITLE>
<DATELINE>    FRANKFURT, April 27 - </DATELINE><BODY>Germany's current account and trade
surpluses should narrow sharply in 1987 but they will take a
long time to get back to normal levels, the Bundesbank said in
its 1986 yearly report.
    The procedure would be slow as an abrupt turnaround in
external factors such as oil prices and exchange rates was not
expected. It did not specify what levels it considered normal.
    West Germany posted a record trade surplus of 124 billion
marks in 1986, after 86 billion in 1985 and its current account
surplus widened to 76.50 billion from 44.6 billion.
    Signs imports would continue to rise, a factor already
noted at the start of 1986, while exports rose only slightly,
would lead to a smaller trade surplus, the Bundesbank said.
    In real terms, West German imports rose 5.7 pct in 1986
while exports only increased by 0.8 pct.
    Germany's current account surplus widened to a provisional
6.6 billion in February from 4.8 billion in January but was
down from 6.85 billion posted in February 1986.
    The trade surplus in February widened to a provisional 10.4
billion marks from 7.2 billion in January and was still above
the 6.84 billion reached in the same month the year before.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21866" NEWID="17244">
<DATE>27-APR-1987 04:24:43.50</DATE>
<TOPICS><D>money-fx</D><D>interest</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0233&#31;reute
b f BC-BANK-OF-JAPAN-DEPUTY   04-27 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF JAPAN DEPUTY SAYS NO NEW MEASURES PLANNED</TITLE>
<DATELINE>    TOKYO, April 27 - </DATELINE><BODY>The Bank of Japan's deputy governor
Yasushi Mieno told a parliamentary Upper House budget committee
that the central bank has no monetary measures other than
intervention planned to stabilize currency rates.
    He also said the Bank of Japan is not considering a cut in
its 2.5 pct discount rate.
    Mieno said the central bank is determined to restore
currency stability through intervention by the major industrial
nations as recent exchange rate volatility stems from
speculation. Economic fundamentals have not changed, he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21867" NEWID="17245">
<DATE>27-APR-1987 04:28:43.31</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>hong-kong</D><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0240&#31;reute
u f BC-BALDRIGE-SAYS-U.S.-WA   04-27 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>BALDRIGE SAYS U.S. WANTS JAPAN TRADE PROPOSALS</TITLE>
<DATELINE>    HONG KONG, April 27 - </DATELINE><BODY>U.S. Secretary of Commerce Malcolm
Baldrige said he hopes Japanese Prime Minister Yasuhiro
Nakasone will make specific proposals to ease U.S.-Japan trade
friction at a meeting with President Reagan this week.
    He also told reporters he hopes the U.S. Will soon be able
to lift sanctions imposed against Japan for alleged violations
of an accord on semiconductors.
    "We have been very specific about our trade problems," he
told a news conference during a stopover in Hong Kong. "I hope
(Nakasone) brings some specific answers to the trade problems."
    "We want to lift the sanctions as soon as possible," Baldrige
said.
    He said that once the U.S. Determines that Japan is selling
semiconductors at cost it will be able to lift the 300 mln U.S.
Dlrs of duties it imposed on Japanese electronics goods on
April 17.
    "We have not seen that yet," he said, adding that it would
take about one month to determine whether the alleged
violations of a bilateral semiconductor pact had been
discontinued.
    Baldrige did not say what specific solutions he wanted for
U.S.-Japan trade problems.
    But the New York Times today quoted administration sources
as saying that the U.S. May be able to lift trade sanctions
against Japan by the end of June.
    Japan would have to show that it had stopped underpricing
semiconductors and had widened access in Japan top U.S. Chip
producers.
    Baldrige also said that despite the current trade rift, the
U.S. And Japan have long had friendly ties that neither side
wants to change.
    "We have a very special relationship with Japan. Japan is a
friend and our ally," Baldrige said. "Neither one of us wants
that to change."
    He also repeated statements that he did not foresee a trade
war with Japan but that the U.S. Had no choice but to impose
the trade sanctions.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21868" NEWID="17246">
<DATE>27-APR-1987 04:52:43.21</DATE>
<TOPICS><D>money-supply</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0279&#31;reute
u f BC-SIGN-OF-SLOWING-IN-GE   04-27 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>SIGN OF SLOWING IN GERMAN MONEY GROWTH -BUNDESBANK</TITLE>
<DATELINE>    FRANKFURT, April 27 - </DATELINE><BODY>Central bank money stock was growing
at about seven pct in the first quarter of 1987, down from
9-1/2 pct in the second half of 1986, so there are signs that
the pace of growth is slowing even though it is still above
target, the Bundesbank said in its 1986 annual report.
    The Bundesbank set a target range of three to six pct
growth from fourth quarter 1986 to fourth quarter 1987 for
central bank money stock. In the previous year it grew 7.7 pct,
outside the 3-1/2 to 5-1/2 pct target range.
    The Bundesbank noted that monetary policy in 1986 was
limited by a series of external factors.
    These included the revaluation of the mark, growing foreign
payments surpluses of non-banks, and currency inflows.
    The Bundesbank therefore tolerated the monetary overshoot
in 1986, as an attempt to counter monetary expansion with
interest rate and liquidity moves would have increased upward
pressure on the mark, it said.
    The lower end of the 1987 target range would be realistic
if a large part of funds currently held in a liquid form were
invested in long-term bank accounts or bonds, public bonds or
foreign securities, the Bundesbank said.
    But if companies and private households continue to hold
their funds in liquid forms, or if there are further currency
inflows, growth will be closer to the upper end of the range.
    "The more the conflict between external constraints and
domestic objectives relaxes -- and many things point to this at
the time of writing this report -- the more possible it will be
to do justice again to the medium-term concept of money supply
control," the Bundesbank said.
    It noted that prices were beginning to tend upwards again
at the start of 1987.
    There would be virtually no easing of other production
costs in 1987 to compensate for the rise in unit-wage costs.
    "Nevertheless, no inflationary trends are likely to set in
this year," the Bundesbank said.
    A link between excessive monetary growth and intensifying
price rises can only be observed in the long term, it added.
    The continuing trend for non-banks to switch into long-term
borrowing to take advantage of low interest rates, while for
the same reason shunning long-term investments, increases the
risks in changing interest rates for banks refinancing
themselves with variable-interest deposits, it added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21869" NEWID="17247">
<DATE>27-APR-1987 04:55:17.67</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>uae</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0290&#31;reute
u f BC-UAE-TO-RECOGNISE-CONT   04-27 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>UAE TO RECOGNISE CONTRACTUAL INTEREST RATES</TITLE>
<DATELINE>    ABU DHABI, April 27 - </DATELINE><BODY>A top United Arab Emirates (UAE)
banker said a new law would be introduced soon obliging courts
to recognise interest rates contracted between bank and
borrower.
    Sheikh Suroor bin Sultan al-Dhahiri, Chairman of Abu Dhabi
Commercial Bank, told reporters after the shareholders' meeting
last night the decree would make interest in debt cases payable
at the contracted rate up to the day a case is filed in court.
    Subsequently, interest would be charged at a maximum nine
pct for personal and 12 pct for corporate loans, he said.
    The law, if passed, would mark a breakthrough in solving
what UAE bankers say is one of their biggest problems,
collecting bad debts in court.
    Under current UAE law in all emirates, except Dubai, courts
recognise only simple interest at a maximum nine and 12 pct
even if a loan was contracted at higher compounded rates.
    The Central Bank said last year that roughly a quarter of
total loans in the UAE banking system were non-performing.
Sheikh Suroor also said a judicial committee set up to consider
debt cases would begin functioning within a month.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21870" NEWID="17248">
<DATE>27-APR-1987 05:19:15.02</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0329&#31;reute
r f BC-EMS-INTERVENTION-SAID   04-27 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>EMS INTERVENTION SAID SOMETIMES COUNTERPRODUCTIVE</TITLE>
<DATELINE>    FRANKFURT, April 27 - </DATELINE><BODY>Attempts to hold currency rates
rigidly within tight ranges through European Monetary System
intramarginal intervention can be counterproductive, bringing
funds into the stronger currency from the weaker at rates still
considered fairly favourable, the Bundesbank said.
    "The movements thus sparked can actually promote the weaker
tendency of a currency, requiring still larger obligatory
intervention when rates hit band limits," it said in its 1986
annual report. The other danger was that money supply expansion
could be caused in the stronger currency nation without its
central bank being involved in the activity.
    "For this reason, currency levels should be allowed as much
room for manoeuvre as possible inside the band limits when a
currency is in a phase of weakness," the Bundesbank said.
    "In addition, speculative positions are made more expensive
to hold when interest differentials are increased."
    In the report, the Bundesbank gave a rare glimpse of the
extent of intramarginal and obligatory EMS intervention that
has taken place since the foundation of the eight-currency
system on March 13, 1979.
    Obligatory intervention is that required by EMS central
banks when a currency reaches its agreed limit against another
participating unit.
    Intramarginal intervention is undertaken on agreement
between central banks when speculative pressure moves a
currency in an unwanted direction, although it may not yet be
near any allowed EMS limits.
    At the start of this year, central banks were very actively
selling marks and supporting weaker currencies, primarily the
French franc, as speculative EMS pressure grew.
    But the announcement by the Bank of France that it was
ceasing intramarginal intervention sent the franc straight to
its then-permitted floor of 31.8850 marks per 100.
    Data in the Bundesbank report showed the EMS central banks
bought a net total 29.9 billion marks after the April 6, 1986
realignment until the selling petered out on July 7.
    But this was far outweighed by net purchases between July
8, 1986, and the realignment on January 12 this year totalling
63.0 billion marks - 44.1 billion of which was intramarginal
and 18.9 billion was obligatory intervention.
    The data showed that 17.4 billion marks of the total
eventually filtered into the West German monetary system.
    Since the latest realignment, central banks have bought
16.1 billion marks in intramarginal intervention, the
Bundesbank said, without naming the banks involved.
    Only very high activity after the March 21, 1983
realignment came close to matching moves up to last January.
Then, central banks bought a massive 61.6 billion marks in the
period up to July 1985, mainly to stabilise the EMS as the
dollar surged.
    This then turned into mark sales of a net 34.0 billion from
July 11, 1985 in the run-up to the April 1986 realignment.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21871" NEWID="17249">
<DATE>27-APR-1987 05:46:13.54</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE><D>poehl</D><D>kohl</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0379&#31;reute
u f BC-POEHL-TO-REMAIN-BUNDE   04-27 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>POEHL TO REMAIN BUNDESBANK CHIEF, MAGAZINE SAYS</TITLE>
<DATELINE>    HAMBURG, April 27 - </DATELINE><BODY>Chancellor Helmut Kohl has decided to
keep Bundesbank President Karl Otto Poehl in office for a
further eight years, the news magazine Der Spiegel said.
    Government officials were not immediately available to
comment on the report, which said that because Poehl is a
member of the Social Democratic Party (SPD), Kohl had not taken
the decision lightly.
    Poehl has been Bundesbank chief since January 1, 1980,
while Kohl's conservative/liberal coalition has held power
since 1982.
    Der Spiegel said Kohl would have preferred to offer the
post to a member of his Christian Democratic Union (CDU).
    But the magazine noted Poehl enjoyed a good international
reputation. Officials have often said Poehl and CDU Finance
Minister Gerhard Stoltenberg hold each other in high regard.
    Poehl's current term expires at the end of this year.
Officials have said no date has been set for an announcement on
whether his tenure will be extended.
    Poehl was made an economic adviser to SPD Chancellor Willy
Brandt in 1971. A year later he was appointed State Secretary
at the Finance Ministry when former SPD Chancellor Helmut
Schmidt was Finance Minister.
    There has recently been press speculation that the
Bundesbank presidency may be offered to Poehl's deputy, Helmut
Schlesinger, a conservative monetarist.
    According to these reports, Schlesinger would be replaced
two years later by CDU member Hans Tietmeyer, the current
Finance Ministry State Secretary.
    Also under discussion as president was Johann Wilhelm
Gaddum, a member of the Bundesbank board and a CDU member who
is known to be close to Kohl.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21872" NEWID="17250">
<DATE>27-APR-1987 05:47:32.88</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0382&#31;reute
u f BC-COATS-VIYELLA-MAKES-A   04-27 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>COATS VIYELLA MAKES AGREED BID FOR YOUGHAL</TITLE>
<DATELINE>    LONDON, April 27 - </DATELINE><BODY>Coats Viyella Plc &lt;CPAT.L> and &lt;Youghal
Carpets (Holdings) Plc> have agreed to merge on the basis of an
offer from Coats, a joint statement said.
    Coats is offering one Irish penny in cash per Youghal
ordinary share. The offer also covers shares arising on
conversion of Youghal convertible preference shares.
    As an alternative, Coats is offering a convertible
redeemable note of 10 pence sterling per Youghal ordinary
share.
    The notes being offered will have the right to conversion
into Coats Viyella ordinary shares or redemption at 10 pence
stg in 10 years time, the statement said.
    For 1986, Coats Vieylla had pre-tax profits of 182 mln stg
on turnover of 1.75 billion stg. Youghal in 1986 had a pre-tax
profit of 205,000 Irish pounds on turnover of 44.5 mln Irish
pounds.
    Foir Teoranta, which holds four mln Youghal ordinary shares
plus preference shares which are convertible into 27.6 mln
ordinary shares, has irrevocably undertaken to accept the
offer.
    The cash terms value Youghal at 538,000 Irish pounds.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21873" NEWID="17251">
<DATE>27-APR-1987 06:03:23.49</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>south-africa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0407&#31;reute
u f BC-SOUTH-AFRICAN-TRADE-S   04-27 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTH AFRICAN TRADE SURPLUS FALLS SHARPLY IN MARCH</TITLE>
<DATELINE>    PRETORIA, April 27 - </DATELINE><BODY>South Africa's trade surplus fell
sharply to 940.8 mln rand in March after rising to 1.62 billion
in February, Customs and Excise figures show.
    In February last year the surplus stood at 752.8 mln rand.
    Exports fell to 3.24 mln rand in March from 3.36 billion in
February while imports rose to 2.30 billion rand from 1.74
billion.
    This brought total exports for the first quarter of this
year to 9.92 billion rand and imports to 6.45 billion rand for
a surplus of 3.47 billion versus 2.47 billion rand in the same
in 1986 period.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21874" NEWID="17252">
<DATE>27-APR-1987 06:05:46.79</DATE>
<TOPICS></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>imf</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0412&#31;reute
u f BC-FUNARO'S-DEPARTURE-CO   04-27 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>FUNARO'S DEPARTURE COULD LEAD TO BRAZIL DEBT DEAL</TITLE>
<AUTHOR>    By Stephen Powell, Reuters</AUTHOR>
<DATELINE>    SAO PAULO, April 27 - </DATELINE><BODY>The resignation of Finance Minister
Dilson Funaro is bound to focus attention on whether Brazil
will now adopt a more flexible debt stance and move towards an
accord with creditors, bankers and political analysts said.
    With Funaro in charge, Brazil's relations with creditors
sank to a low ebb, they said.
    Bankers told anti-Funaro jokes from Sao Paulo to New York
and economic analysts said the personal animosity between the
minister and U.S. Bankers was a real obstacle to reaching
agreement on rescheduling Brazil's 111 billion dlr debt.
    Commenting on Funaro, a foreign banker here recently told
Reuters, "They (banks) see his removal pretty much as a
precondition for getting serious negotiations under way."
    Funaro angered the banks in February by suspending interest
payment on Brazil's 68 billion dlr bank debt.
    There was also a question of personal style. Bankers
disliked Funaro's aloof demeanor and in private heatedly
accused him of arrogance and inflexibility.
    However, Funaro did not fall because he upset foreign
bankers but rather because his Cruzado Plan price freeze last
year was a massive flop, economically and politically.
    However, it is in the domain of the debt and Brazil's
relation with creditors that his departure will have the most
closely-watched international repercussion, bankers said.
    It became part of Funaro's trademark that he would have no
truck with the International Monetary Fund (IMF), thus
effectively blocking a debt agreement.
    He argued that if Brazil sought the help of the IMF, the
Fund would lay down conditions which would lead to recession.
    Funaro and others who supported this position had memories
of the IMF austerity program in Brazil in the early 1980s, a
period when hungry crowds stormed supermarkets.
    The foreign banker in Sao Paulo said, "I think Brazil could
have an agreement with the IMF which would allow (it)
acceptable growth."
    Argentina, working with the IMF, won excellent terms for a
major portion of its 50 billion dlr debt earlier this month.
    Given the IMF role in the Argentine accord, a U.S. Diplomat
here said the agreement had been extremely damaging for Funaro
because it showed that cooperation with the IMF bore fruit.
    Mexico has also taken the IMF path and, earlier than
Argentina, clinched a favourable pioneering agreement with
creditors on its 100 billion dlr debt.
    Brazil is now the only one of the three biggest Latin
American debtors not to have a debt agreement.
    Some Brazilian opinion, particularly in the business
community, is favourable to an IMF accord.
    A leading newspaper, Jornal do Brazil, carried a report
from Washington over the weekend saying it was a myth the IMF
brought recession and the best moment for an accord was now. As
it happens, a routine IMF mission is visiting Brasilia.
    The government has repeatedly dismissed speculation it is
considering any major change in debt policy and political
analysts caution against expecting changes on the IMF issue.
    The government of President Jose Sarney has gained a
reputation for chronic indecisiveness and some analysts believe
the government will turn to the IMF only if it comes to the
conclusion there really is no option.
    But such a policy shift looks more and more likely before
too long in the eyes of many analysts.
    One major political obstacle, Funaro, is no longer in the
picture and the economic pressures on Brazil are growing.
    The sharp drop in the trade surplus, which triggered
Brazil's present debt crisis, shows no sign of being reversed.
In the first quarter of 1987 Brazil chalked up a surplus of
only 526 mln dlrs, just a fraction of the 2.47 billion dlr
surplus it had in the same period last year.
    Brazilian officials concede that time is not on their side
in the debt crisis.
    "Brazil has an interest in resolving this problem as rapidly
as possible," Central Bank President Francisco Gros said on
Friday.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21875" NEWID="17253">
<DATE>27-APR-1987 06:07:02.53</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0414&#31;reute
b f BC-KLOECKNER-WERKE-SHARE   04-27 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>KLOECKNER-WERKE SHARES SUSPENDED IN FRANKFURT</TITLE>
<DATELINE>    FRANKFURT, April 27 - </DATELINE><BODY>Shares in Kloeckner-Werke AG &lt;KLKG.F>
were suspended from stock exchange trading pending an
announcement expected by the company today or tomorrow, a
bourse spokesman said, without giving further details.
    Kloeckner shares closed Friday at 67.20 marks. They had
come under pressure in recent sessions on reports the company
may be exposed to as much as 300 mln marks in debts as a result
of the bankruptcy of steelmaker Eisenwerk-Gesellschaft
Maximilanshuette mbH (Maxhuette).
    Kloeckner owns just over 49 pct of the share capital in the
Bavarian-based Maxhuette.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21876" NEWID="17254">
<DATE>27-APR-1987 06:27:25.47</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>indonesia</D></PLACES>
<PEOPLE><D>subroto</D></PEOPLE>
<ORGS><D>opec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0436&#31;reute
u f BC-WORLD-OIL-DEMAND-LIKE   04-27 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>WORLD OIL DEMAND LIKELY TO INCREASE, SUBROTO SAYS</TITLE>
<DATELINE>    JAKARTA, April 27 - </DATELINE><BODY>Oil prices have stabilized in world
markets and demand is likely to increase in the second half of
the year, Indonesia's Mines and Energy Minister Subroto said.
    He told a meeting of oil industry executives that oil
prices had stabilized at 18 dlrs a barrel -- the average fixed
price OPEC put into effect in February -- and supply and demand
have been in equilibrium since March.
    If OPEC does not increase overall output in the second half
of the year, prices will tend to increase, because non-OPEC
producers have not been able to produce more oil at current
prices, he said.
    But he declined to predict, when asked after the meeting,
whether OPEC would raise its production ceiling of 15.8 mln
barrels at its next meeting in June.
    He said in his speech that world oil production over the
last two months was estimated at 45.6 mln barrels a day, or two
mln barrels a day less than world oil demand.
    Oil production by industrialized countries, particularly
the U.S. And Canada, is expected to decrease this year, but
some of that slack will be taken up by increased production in
Cameroon, India and other developing countries, he said.
    This year is a battle between OPEC and non-OPEC oil
producers and consumers in the industrialized world for the
upper hand in world oil markets, Subroto said in an earlier
speech to management trainees at Pertamina Oil Company.
    "If OPEC emerges the winner, than it can gradually resume
its former role in world oil markets," he said.
    "But don't expect oil prices to return to the level of 28-30
dlrs a barrel, at least not in the next three or four years,"
Subroto said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21877" NEWID="17255">
<DATE>27-APR-1987 06:31:40.95</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0450&#31;reute
u f BC-TOSHIBA-TO-SET-UP-MIC   04-27 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>TOSHIBA TO SET UP MICROCHIP PARTNERSHIP IN U.S.</TITLE>
<DATELINE>    TOKYO, April 27 - </DATELINE><BODY>Toshiba Corp &lt;TSBA.T> will set up a
five-year technology partnership with California-based SDA
Systems Inc with the intention of designing and producing
computer microchips, a company spokesman said.
    Toshiba's investment in the project is likely to total less
than 10 mln dlrs over the five years, he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21878" NEWID="17256">
<DATE>27-APR-1987 06:39:34.03</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE><D>nakasone</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0465&#31;reute
u f BC-NAKASONE-HOPES-U.S.-V   04-27 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>NAKASONE HOPES U.S. VISIT WILL HELP END TRADE ROW</TITLE>
<DATELINE>    TOKYO, April 27 - </DATELINE><BODY>Prime Minister Yasuhiro Nakasone said he
hopes his visit to Washington later this week will help resolve
Japan's severe trade problems with the United States.
    Nakasone leaves on his sixth official visit to the United
States on Wednesday, only weeks after President Reagan imposed
punitive tariffs of 300 mln dlrs a year on Japanese electronic
goods for alleged violation of a semiconductor pact.
    Japan also faces more possible sanctions amid calls in the
U.S. Congress for further action to help improve trade
imbalances.
    Japan's trade surplus with the United States reached a
record 58.6 billion dlrs in 1986.
    Nakasone told reporters that special envoy Shintaro Abe,
who has just returned from Washington, told him protectionist
sentiment in the United States is severe.
    "We are well aware of a movement in the United States to
enact legislation," Nakasone said.
    He said friends at home and abroad have advised him not to
go to the United States but it is now more important than ever
that he express Japan's view and carefully listens to the views
of the United States.
    "My visit to the United States at this time will be the most
important visit of all," Nakasone said.
    While in Washington, he said he hopes to have candid and
frank discussions with President Reagan and Congressionl
leaders. He said he plans to discuss exchange rate stability,
economic cooperation to developing countries and U.S.-Soviet
disarmament and arms control.
    On the recently imposed trade sactions, Nakasone said he
would present evidence that Japanese semiconductor imports are
increasing and that Japan is monitoring exports to third
countries.
    "We have full confidence we can present clear evidence," he
said. "(Therefore), we will request that the sanctions be lifted
at the earliest possible time."
    On the trade imbalance, Nakasone said Japan has already
taken action. The volume of exports to the United States has
been cut, while U.S. Imports have increased.
    But Japanese imports from Europe and other Asian nations
have recently surged, those from the United States remain weak,
indicating a lack of U.S. Competitiveness, he said.
    Nakasone said Japan will continue to strive to improve the
trade imbalance but the United States will have to become more
competitive and improve its huge budget deficit.
    He said he will also discuss the forthcoming Venice summit
of the seven major industrial nations in June.
    "We can further enhance the efforts for improving peace,
disarmament and the world economies as a whole through
solidarity," Nakasone said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21879" NEWID="17257">
<DATE>27-APR-1987 06:41:27.14</DATE>
<TOPICS><D>grain</D><D>rice</D></TOPICS>
<PLACES><D>thailand</D><D>vietnam</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f0473&#31;reute
u f BC-NORTHERN-VIETNAMESE-R   04-27 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>NORTHERN VIETNAMESE RICE CROP THREATENED</TITLE>
<DATELINE>    BANGKOK, April 27 - </DATELINE><BODY>Insects are threatening to destroy
367,000 hectares or about one-third of the spring rice crop in
northern Vietnam, Hanoi radio reported.
    Drought has hit another 189,000 hectares, with 40,000
hectares very badly affected, it said.
    Insecticides are in short supply so only the most
endangered rice fields should be sprayed, the radio added.
    The affected areas -- the Red River delta and other coastal
areas in northern Vietnam -- produce between 30 to 40 per cent
of the country's rice.
    The radio report, monitored in Bangkok on April 20 but only
translated here over the weekend, said the threatened damage
was spread over twice as large an area as last year.
    Vietnam has not been able to grow enough food for its
expanding population, with the Soviet Union buying rice in
Thailand and Burma in recent years for supply to Vietnam.
    Vietnam produced 18.2 million tonnes of food, most of it
rice, last year and hopes to boost that to 23-24 million tonnes
by 1990.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21880" NEWID="17258">
<DATE>27-APR-1987 06:41:45.29</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0474&#31;reute
u f BC-BANK-OF-JAPAN-TO-SELL   04-27 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF JAPAN TO SELL 600 BILLION YEN IN BILLS</TITLE>
<DATELINE>    TOKYO, April 27 - </DATELINE><BODY>The Bank of Japan will sell 600 billion
yen in 60-day financing bills tomorrow through 36-day
repurchase agreements maturing June 3 to roll over a previously
issued 400 billion yen of such bills maturing tomorrow, money
traders said.
    The yield on the bills for sale to banks and securities
houses by money houses will be 3.8498 pct compared with the
one-month commercial bill discount rate today of 3.8125 pct and
the one-month certificate of deposit rate of 4.18/07 pct.
    The traders estimate the surplus tomorrow at about 700
billion yen. The remaining 300 billion yen is mainly due to
increased cash holdings by the banking system because of
central bank dollar purchases.
    The operation will put the outstanding supply of such bills
to 3,500 billion yen.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21881" NEWID="17259">
<DATE>27-APR-1987 06:46:39.05</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE><D>poehl</D><D>kohl</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0480&#31;reute
u f BC-FURTHER-TERM-FOR-POEH   04-27 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>FURTHER TERM FOR POEHL LIKELY, BONN SOURCES SAY</TITLE>
<DATELINE>    BONN, April 27 - </DATELINE><BODY>Karl Otto Poehl is likely to be re-elected
President of the Bundesbank when his current term in office
expires at the end of this year, government sources said.
    They were commenting on a report in Der Spiegel news
magazine which said Chancellor Helmut Kohl had decided to keep
Poehl in office for another eight years.
    Government spokesman Friedhelm Ost had no comment on the
report, other than to say that the subject of the Bundesbank
presidency was not currently under discussion. Der Spiegel said
that, because Poehl is a member of the Social Democratic Party
(SPD), Kohl had not taken the decision lightly.
    Poehl has been Bundesbank chief since January 1, 1980,
while Kohl's conservative/liberal coalition has held power
since 1982. Der Spiegel said Kohl would have preferred to offer
the post to a member of his Christian Democratic Union (CDU).
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21882" NEWID="17260">
<DATE>27-APR-1987 06:47:51.48</DATE>
<TOPICS><D>money-supply</D></TOPICS>
<PLACES><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0483&#31;reute
u f BC-TAIWAN-ISSUES-MORE-CD   04-27 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN ISSUES MORE CDS TO CURB MONEY SUPPLY GROWTH</TITLE>
<DATELINE>    TAIPEI, April 27 - </DATELINE><BODY>The central bank issued 7.53 billion
Taiwan dlrs worth of certificates of deposits (CDs), bringing
issues so far this year to 174.48 billion against 40 billion a
year ago, a bank spokesman said.
    The new CDs, with maturities of six months, one and two
years, carry interest ranging from 4.03 to 5.12 pct.
    The issues are designed to help curb the growth of M-1b
money supply.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21883" NEWID="17261">
<DATE>27-APR-1987 06:48:30.38</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>miyazawa</D><D>fujioka</D></PEOPLE>
<ORGS><D>adb-asia</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0484&#31;reute
u f BC-JAPAN-HOLDS-OUT-PROMI   04-27 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN HOLDS OUT PROMISE OF FUNDS FOR ASIAN BANK</TITLE>
<AUTHOR>    By Rich Miller, Reuters</AUTHOR>
<DATELINE>    OSAKA, Japan, April 27 - </DATELINE><BODY>Japanese Finance Minister Kiichi
Miyazawa opened the 20th annual meeting of the Asian
Development Bank by holding out the promise of more Japanese
money for the organisation.
    "We are ... Striving to enhance the flow of capital from
Japan to the developing countries," he said.
    "The Asia-Pacific region is an area of special concern for
us in our bilateral and multilateral assistance."
    He said Tokyo was ready to study setting up a special
Japanese fund at the ADB, like the one at the World Bank.
    The World Bank fund is earmarked for use by developing
countries.
    Developing countries and the United States have criticised
Japan for failing to use its trade surplus to help poor
countries.
    Later this week, Prime Minister Yasuhiro Nakasone is
expected to tell President Reagan that Japan plans to extend as
much as 30 billion dlrs to developing countries over the next
three years, Japanese officials said. The exta ADB funding
would be part of that amount.
    "Our cooperation is intended to contibute to ... Alleviating
the burden on (developing countries)," said Miyazawa, who is
also chairman of the ADB board of governors.
    "The developing countries today find themselves in a very
difficult situation," he said. "With a few notable exceptions,
those countries that are highly dependent upon commodity
exports face a rough road ahead."
    While the developing countries can help themselves by
striving to become internationally competitive and seeking to
attract foreign investment, the ADB also has a role to play, he
said.
    Miyazawa told the meeting the bank must beef up its
economic advice program to developing nations and must work
vigorously to identify development projects for loans.
    He also called for more use of loans that were not tied to
development projects, but provided more overall help to the
borrower.
    ADB President Masao Fujioka supported Miyazawa's view.
    "The bank has been fondly described as the family doctor,"
Fujioka said. "The bank will now have to equip itself to meet a
range of services required to attend to varied needs of its
developing members."
    Miyazawa told the meeting Tokyo was ready to allow its
Export-Import Bank to co-finance ADB loans. These would not
have to be used for the purchase of Japanese equipment.
    Tokyo was also prepared to let the Asian Development Bank
raise more funds in Tokyo and financial markets should it need
to do so, he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21884" NEWID="17262">
<DATE>27-APR-1987 06:51:49.00</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0492&#31;reute
u f BC-NIPPON-STEEL-NOMINATE   04-27 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>NIPPON STEEL NOMINATES NEW PRESIDENT</TITLE>
<DATELINE>    TOKYO, April 27 - </DATELINE><BODY>Nippon Steel Corp &lt;NSTC.T> nominated
Hiroshi Saito as president, to replace Yutaka Takeda, subject
to shareholders' approval at a meeting on June 26, company
officials told a press conference.
    Takeda will become chairman, and vice president Akira Miki
will be vice chairman, they said. Current chairman Eishiro
Saito, who is also chairman of the Federation of Economic
Organisations (Keidanren), a leading Japanese business
organisation, will act as honorary chairman and advisor, they
added. Nippon Steel is now undergoing a strict rationalisation
program to meet declining demand for steel products.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21885" NEWID="17263">
<DATE>27-APR-1987 06:52:19.33</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>adb-asia</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0493&#31;reute
r f BC-U.S.,-JAPAN-AT-ODDS-A   04-27 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S., JAPAN AT ODDS AT ADB MEETING</TITLE>
<DATELINE>    TOKYO, April 27 - </DATELINE><BODY>The United States and Japan are waging a
behind the scenes battle at this week's Asian Development Bank
meeting over Tokyo's attempts to win a greater say in the
organization, U.S. And Japanese delegates said.
    Washington is opposing the Japanese efforts because it
would mean the end of the long-standing parity between the two
nations in the Bank, U.S. Officials said.
    Right now, the two countries' voting shares are about
equal, Japan having 12.53 pct and the United States 12.36 pct.
The slight difference is due to a temporary delay in the U.S.
Subscription to the Bank.
    "It's quite a delicate matter," Japanese Finance Ministry
deputy director general Fumiya Iwasaki told Reuters. "I don't
see the discussion ending soon."
    The issue is further complicated because other member
nations would have to give up some of their power in the Bank
if Japan were to increase its influence, he said.
    Tokyo raised the issue at last year's annual meeting in
Manila, arguing that the 3.7 billion dlrs it has contributed to
the Bank's soft loans fund entitled it to a greater say in the
overall organization. The United States has given 1.2 billion
dlrs to the Asian Development Fund.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21886" NEWID="17264">
<DATE>27-APR-1987 06:57:39.48</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F M C
&#22;&#22;&#1;f0498&#31;reute
u f BC-GMK-SAYS-THREE-KMA-PA   04-27 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>GMK SAYS THREE KMA PARTNERS MULLING RECONSTRUCTION</TITLE>
<DATELINE>    MELBOURNE, April 27 - </DATELINE><BODY>The three Australian participants in
the &lt;Kalgoorlie Mining Associates> (KMA) gold mining venture
are discussing a possible restructuring of their interests in
&lt;Gold Mines of Kalgoorlie Ltd> (GMK), KMA said.
    The other participants are Western Mining Corp Holdings Ltd
&lt;WMNG.S> (WMC) and Poseidon Ltd &lt;POSA.S>, GMK said in a brief
statement. It gave no further details.
    KMA is owned 52 pct by &lt;Kalgoorlie Lake Pty Ltd> (KLV) and
48 pct by a local unit of Homestake Mining Co &lt;HM>.
    KLV in turn is owned 47 pct each by Poseidon and GMK and
six pct by WMC.
    The KMA joint venture was formed in 1976 and operates the
Mount Charlotte and Fimiston gold mines in Western Australia.
    The two mines produced a total of 222,000 ounces of gold in
1985/86 ended June 17.
    KMA is the sole source of GMK's revenue and profits and the
major contributor to Poseidon's earnings, their annual reports
show. GMK is owned 31.8 pct by WMC.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21887" NEWID="17265">
<DATE>27-APR-1987 07:07:53.68</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0521&#31;reute
u f BC-BANK-OF-JAPAN-INTERVE   04-27 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF JAPAN INTERVENES IN TOKYO</TITLE>
<DATELINE>    TOKYO, April 27 - </DATELINE><BODY>The Bank of Japan intervened in the
market, buying a moderate amount of dollars around 137.80-85
yen, dealers said.
    Some dealers noted talk that the Bundesbank intervened here
directly buying dollars against marks, after reports that it
intervened through the Bank of Japan in the morning.
    The dollar moved up on short-covering aided by the central
bank intervention, they said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21888" NEWID="17266">
<DATE>27-APR-1987 07:08:34.59</DATE>
<TOPICS><D>money-fx</D><D>dlr</D><D>interest</D></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE><D>miyazawa</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0525&#31;reute
u f BC-MIYAZAWA-DOES-NOT-THI   04-27 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>MIYAZAWA DOES NOT THINK DOLLAR IN FREEFALL</TITLE>
<DATELINE>    TOKYO, April 27 - </DATELINE><BODY>Japanese Finance Minister Kiichi Miyazawa
told a parliamentary Upper House budget committee that he does
not think the dollar is in a freefall.
    He said concerted intervention is only a supplementary
measure to moderate volatility in exchange rates and repeated
that policy coordination among major industrial nations is
necessary. "We cannot expect currency stability only through
coordinated market intervention," he said.
    Miyazawa also told the committee the U.S. Has not called on
Japan to cut its 2.5 pct discount rate.
    Miyazawa said the government is not considering investing
in U.S. Government bonds to help stabilize exchange rates. This
matter has to be dealt with carefully because it involves the
public's money and exchange rates are moving widely, he added.
    The ministry will consider where to invest its funds when
exchange rates become stable, he said.
    Asked if Japan is considering a request to the U.S. For it
to raise its discount rate to stabilize exchange rates,
Miyazawa said the U.S. Has not been able to take action now
because it has to maintain its economic growth.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21889" NEWID="17267">
<DATE>27-APR-1987 07:10:09.39</DATE>
<TOPICS><D>money-fx</D><D>interest</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0530&#31;reute
r f BC-BANK-OF-JAPAN-DEPUTY   04-27 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF JAPAN DEPUTY SAYS NO NEW MEASURES PLANNED</TITLE>
<DATELINE>    TOKYO, April 27 - </DATELINE><BODY>The Bank of Japan's deputy governor
Yasushi Mieno told a parliamentary Upper House budget committee
that the central bank has no monetary measures other than
intervention planned to stabilize currency rates.
    He also said the Bank of Japan is not considering a cut in
its 2.5 pct discount rate.
    Mieno said the central bank is determined to restore
currency stability through intervention by the major industrial
nations as recent exchange rate volatility stems from
speculation. Economic fundamentals have not changed, he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21890" NEWID="17268">
<DATE>27-APR-1987 07:11:40.68</DATE>
<TOPICS><D>money-fx</D><D>dlr</D><D>interest</D></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE><D>corrigan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0536&#31;reute
u f BC-U.S.-CENTRAL-BANKER-O   04-27 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>FED'S CORRIGAN OPPOSES FURTHER DOLLAR FALL</TITLE>
<DATELINE>    OSAKA, JAPAN, April 27 - </DATELINE><BODY>New York Federal Reserve Bank
President Gerald Corrigan opposed a further fall in the value
of the dollar but refused to say whether U.S. interest rates
would be raised to protect the currency.
    "A further decline in the dollar or appreciation of the yen
at this juncture I would regard as counterproductive," he told a
news conference.
    His comments echoed those made last week by U.S. Treasury
Secretary James Baker, who also warned against a further dollar
fall.
    Currency speculators and investors are convinced that a
further dollar fall is needed to help reduce the huge U.S.
trade deficit, dealers said, adding the only thing likely to
help the dollar is seen as a rise in U.S. Interest rates.
    Corrigan refused to say whether the U.S. was ready to risk
damaging its economic recovery by raising interest rates.
    The dollar's sharp drop this month has also raised
questions about the usefulness of recent meetings of the Group
of Seven. But Corrigan said: "They have played a constructive
role in so far as the broad objective of facilitating a higher
degree of economic policy coordination."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21891" NEWID="17269">
<DATE>27-APR-1987 07:12:03.05</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0538&#31;reute
u f BC-REAGAN-WARNS-CONGRESS   04-27 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>REAGAN WARNS CONGRESS ON PROTECTIONISM</TITLE>
<DATELINE>    WASHINGTON, April 27 - </DATELINE><BODY>President Reagan warned the U.S.
Congress in his weekly radio address against passing what he
called dangerous, protectionist trade legislation that would
tie his hands in trade negotiations with Japan and other
countries.
    Reagan, who will hold talks with Japanese Prime Minister
Yasuhiro Nakasone here this week, said he would lift tariffs
imposed last week against some Japanese products as soon as
Tokyo complied with a U.S.-Japanese pact on semiconductors.
    U.S. officials gave the same message to former Japanese
Foreign Minister Shintaro Abe in talks here last week.
    In his weekly radio address on Saturday, Reagan said he
would tell Nakasone: "We want to continue to work cooperatively
on trade problems and want very much to lift these trade
restrictions as soon as evidence permits.
    Reagan said the 100 pct tariffs he imposed on some 300 mln
dlrs worth of Japanese goods was a special case of trade
retaliation and did not signal a shift in what he called his
staunch anti-protectionist policies.
    "In imposing these tariffs we were just trying to deal with
a particular problem, not begin a trade war," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21892" NEWID="17270">
<DATE>27-APR-1987 07:13:16.65</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>miyazawa</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0545&#31;reute
u f BC-MIYAZAWA-SAYS-POLICY   04-27 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>MIYAZAWA SAYS POLICY COORDINATION KEY TO CURRENCY</TITLE>
<DATELINE>    OSAKA, April 27 - </DATELINE><BODY>Japanese Finance Minister Kiichi Miyazawa
told a press conference the basic solution to currency
instability among major nations is economic policy
coordination.
    He said that is a time-consuming process as coordination
does not always proceed in a way policy makers envisage. "That
is democracy," he said. Upon that foundation, Miyazawa said,
there must be coordinated intervention. Major nations have
sufficient funds to continue concerted intervention, he added.
    "Without doubt this set-up of coordinated intervention will
continue to operate," Miyazawa said.
    Miyazawa said Prime Minister Yasuhiro Nakasone and U.S.
President Ronald Reagan are likely to reaffirm the Louvre and
Washington Group of Seven (G-7) agreements on currency
stability when they meet later this week.
    Asked whether the dollar is declining against all major
currencies, not only the yen, Miyazawa declined to make any
comments.
    He reiterated that many major nations have undertaken
coordinated intervention in recent weeks to prop up the dollar,
including countries who are not members of the G-7.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21893" NEWID="17271">
<DATE>27-APR-1987 07:14:00.45</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>philippines</D></PLACES>
<PEOPLE><D>ongpin</D></PEOPLE>
<ORGS><D>adb-asia</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0549&#31;reute
r f BC-PHILIPPINES-TO-GET-30   04-27 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILIPPINES TO GET 300 MLN DLR JAPANESE LOAN</TITLE>
<DATELINE>    OSAKA, Japan, April 27 - </DATELINE><BODY>The Philippines has received a 300
mln dlr loan from the Japanese Export-Import Bank, Philippine
Finance Minister Jaime Ongpin told Reuters.
    Ongpin said the loan, carrying interest of 5.5 pct a year,
matches a 300 mln dlr economic recovery loan approved by the
World Bank in March.
    Ongpin said Japanese Finance Minister Kiichi Miyazawa
expressed satisfaction at the recent rescheduling of the
Philippines' 10.3 billion dlr foreign debt during a meeting
here yesterday. The 14th yen aid package from Japan's Overseas
Economic Cooperation Fund was also discussed.
    Ongpin said the Japan is expected to respond favourably to
a Philippine request to raise the aid level to between 75 and
80 billion yen.
    The aid package, originally scheduled for Japan's 1986/87
fiscal year ended March, was delayed because of the
Philippines' change of government last year.
    "The Japanese have indicated we may not get as much as we
are asking for in one big jump from the 13th yen package of 49
billion yen," he said. "But they are likely to bring it up to
that level for the 15th package."
    Ongpin said Manila had 14 projects in the pipeline for the
14th yen package.
    "We are trying get the 15th package mainly in the form of
untied commodity loans," he said.
    Discussion on a Philippine request for 500 mln dlrs in soft
loans to finance a land reform program, for which Japan is
expected to supply most of the financing, had been put off
until next month because of delays in preparatory work.
    Ongpin said he will make a strong pitch for the land reform
program in his speech on Tuesday at the 20th annual meeting of
the Asian Development Bank (ADB) here.
    Ongpin said the Philippines is very happy about the ADB's
support after President Corazon Aquino took over from deposed
leader Ferdinand Marcos.
    "But I would like to see them push more aggressively in the
field of lending to the private sector," he said.
    The Philippines was the bank's second-biggest borrower
after Pakistan in 1986, with loans totalling 316 mln dlrs.
    Ongpin said he expects ADB lending to the Philippines in
1987 to reach the same level.
    "They have told us they can lend us two billion dlrs if we
want. But we have to come up with the projects," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21894" NEWID="17272">
<DATE>27-APR-1987 07:16:46.51</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE><D>poehl</D><D>kohl</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0557&#31;reute
r f BC-POEHL-TO-REMAIN-BUNDE   04-27 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>POEHL TO REMAIN BUNDESBANK CHIEF, MAGAZINE SAYS</TITLE>
<DATELINE>    HAMBURG, April 27 - </DATELINE><BODY>Chancellor Helmut Kohl has decided to
keep Bundesbank President Karl Otto Poehl in office for a
further eight years, the news magazine Der Spiegel said.
    Government officials were not immediately available to
comment on the report, which said that because Poehl is a
member of the Social Democratic Party (SPD), Kohl had not taken
the decision lightly.
    Poehl has been Bundesbank chief since January 1, 1980,
while Kohl's conservative/liberal coalition has held power
since 1982.
    Der Spiegel said Kohl would have preferred to offer the
post to a member of his Christian Democratic Union (CDU).
    But the magazine noted Poehl enjoyed a good international
reputation. Officials have often said Poehl and CDU Finance
Minister Gerhard Stoltenberg hold each other in high regard.
    Poehl's current term expires at the end of this year.
Officials have said no date has been set for an announcement on
whether his tenure will be extended.
    Poehl was made an economic adviser to SPD Chancellor Willy
Brandt in 1971. A year later he was appointed State Secretary
at the Finance Ministry when former SPD Chancellor Helmut
Schmidt was Finance Minister.
    There has recently been press speculation that the
Bundesbank presidency may be offered to Poehl's deputy, Helmut
Schlesinger, a conservative monetarist.
    According to these reports, Schlesinger would be replaced
two years later by CDU member Hans Tietmeyer, the current
Finance Ministry State Secretary.
    Also under discussion as president was Johann Wilhelm
Gaddum, a member of the Bundesbank board and a CDU member who
is known to be close to Kohl.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21895" NEWID="17273">
<DATE>27-APR-1987 07:18:39.06</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0571&#31;reute
r f BC-U.S.-OFFICIAL-SAYS-EA   04-27 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. OFFICIAL SAYS EAGLE GOLD COIN HAS MAJOR SHARE</TITLE>
<DATELINE>    TOKYO, April 27 - </DATELINE><BODY>A visiting U.S. Mint official told
reporters that American Eagle gold coins took the largest share
of the world bullion coin market in 1986 despite the fact sales
only began in October last year.
    She said the U.S. Coins accounted for 37 pct of the world
market share, against 31.9 pct for Canadian coins and 18.6 pct
for South African. She gave no sales volume figures for 1986.
    Sales of the U.S. Coins in the first six months of issue
totalled 2.32 mln ounces, exceeding the target of 2.2 mln in
the first year, she said.
    Japan alone has imported 140,000 ounces of the coins since
November, the official said, adding that the U.S. Mint sees
Japan as a major market.
    Sumitomo Corp and Tanaka Kikinzoku KK already distribute
the coins in Japan, she said. Nissho Iwai Corp has just been
appointed a distributor, she added.
    The U.S. Started issuing gold bullion coins, following the
ban on imports of South African Krugerrands to the U.S., In a
bid to offer investment grade coins to investors, the Mint said
in a statement.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21896" NEWID="17274">
<DATE>27-APR-1987 07:24:22.56</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>hong-kong</D><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0585&#31;reute
u f BC-BALDRIGE-SAYS-U.S.-WA   04-27 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>BALDRIGE SAYS U.S. WANTS JAPAN TRADE PROPOSALS</TITLE>
<DATELINE>    HONG KONG, April 27 - </DATELINE><BODY>U.S. Secretary of Commerce Malcolm
Baldrige said he hopes Japanese Prime Minister Yasuhiro
Nakasone will make specific proposals to ease U.S.-Japan trade
friction at a meeting with President Reagan this week.
    He also told reporters he hopes the U.S. Will soon be able
to lift sanctions imposed against Japan for alleged violations
of an accord on semiconductors.
    "We have been very specific about our trade problems," he
told a news conference during a stopover in Hong Kong. "I hope
(Nakasone) brings some specific answers to the trade problems."
    "We want to lift the sanctions as soon as possible," Baldrige
said.
    He said that once the U.S. Determines that Japan is selling
semiconductors at cost it will be able to lift the 300 mln U.S.
Dlrs of duties it imposed on Japanese electronics goods on
April 17.
    "We have not seen that yet," he said, adding that it would
take about one month to determine whether the alleged
violations of a bilateral semiconductor pact had been
discontinued.
    Baldrige did not say what specific solutions he wanted for
U.S.-Japan trade problems.
    But the New York Times today quoted administration sources
as saying that the U.S. May be able to lift trade sanctions
against Japan by the end of June.
    Japan would have to show that it had stopped underpricing
semiconductors and had widened access in Japan top U.S. Chip
producers.
    Baldrige also said that despite the current trade rift, the
U.S. And Japan have long had friendly ties that neither side
wants to change.
    "We have a very special relationship with Japan. Japan is a
friend and our ally," Baldrige said. "Neither one of us wants
that to change."
    He also repeated statements that he did not foresee a trade
war with Japan but that the U.S. Had no choice but to impose
the trade sanctions.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21897" NEWID="17275">
<DATE>27-APR-1987 07:24:51.19</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T C
&#22;&#22;&#1;f0589&#31;reute
r f BC-GERMAN-SUGAR-BEET-PLA   04-27 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN SUGAR BEET PLANTINGS MOST ADVANCED IN SOUTH</TITLE>
<DATELINE>    HAMBURG, April 27 - </DATELINE><BODY>Sugar beet plantings are almost
complete in southern West Germany but are lagging behind in
other regions, trade sources said.
    In the west of the country, about 60 pct of the plantings
were completed, while in the north only 40 pct of the sugar
beet area has been sown, they said.
    The weather is forecast to stay mild in northern West
Germany in the coming days and more planting progress is
expected there, they said.
    This year's area sown to sugar beets is likely to fall to
38,500 hectares from around 40,000 last year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21898" NEWID="17276">
<DATE>27-APR-1987 07:25:11.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0591&#31;reute
u f BC-FRENCH-HOUSEHOLD-CONS   04-27 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH HOUSEHOLD CONSUMPTION DOWN 3.6 PCT IN MARCH</TITLE>
<DATELINE>    PARIS, April 27 - </DATELINE><BODY>French household consumption of
manufactured goods fell 3.6 pct in March, the National
Statistics Institute (INSEE) said.
    It said the figure fell to 46.35 billion francs seasonally
adjusted and in real terms from February's 48.07 billion, where
it had held steady for three months.
    It said sales of most durable goods had fallen 3.5 pct
while household electricals, clothing and textiles were down by
about eight pct from February.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21899" NEWID="17277">
<DATE>27-APR-1987 07:25:24.81</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE><D>reagan</D><D>nakasone</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0592&#31;reute
u f BC-U.S.-MAY-TELL-JAPAN-S   04-27 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. MAY TELL JAPAN SANCTIONS CAN END - NY TIMES</TITLE>
<DATELINE>    NEW YORK, April 27 -  </DATELINE><BODY>President Reagan is expected to tell
Prime Minister Yasuhiro Nakasone this week that the U.S. May be
able to lift trade sanctions against Japan by the end of June,
the New York Times said.
    The newspaper, quoting administration officials, said that
under such a scenario the President would announce just before
the June 8-10 economic summit meeting in Venice that he hoped
to lift the restrictions on electronics imports by the end of
the month. Japan, for its part, would have to show that it had
stopped underpricing semiconductors and had widened access in
Japan for U.S. Chip producers.
    The U.S. Administration imposed 100 pct tariffs on 300 mln
dlrs worth of Japanese color television sets, motorised tools
and personal computers on April 17.
    Japanese officials have said Nakasone's main demand when he
arrives for talks with Reagan on Wednesday would be the
immediate lifting of the tariffs.
    But with Congress planning further trade reprisals against
Japanese trade policies, the end-of-June timeframe is seen as
the best Reagan can offer, the Times said. It said some verbal
formulation was expected to be found in a communique that would
allow Nakasone to claim at least a modest victory.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21900" NEWID="17278">
<DATE>27-APR-1987 07:26:48.48</DATE>
<TOPICS></TOPICS>
<PLACES><D>hong-kong</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0594&#31;reute
r f BC-INTEGRATED-RESOURCES   04-27 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>INTEGRATED RESOURCES SETS UP BRANCHES IN HONG KONG</TITLE>
<DATELINE>    HONG KONG, April 27 - </DATELINE><BODY>U.S.-based insurance and investment
broker &lt;Integrated Resources Inc> has set up two subsidiaries
in Hong Kong, a company statement said.
    &lt;Integrated Resources Insurance and Investment Services
Ltd> will focus on insurance marketing and &lt;Integrated
Resources (HK) Ltd> on stock broking.
    The statement gave no financial details for the local
firms.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21901" NEWID="17279">
<DATE>27-APR-1987 07:27:50.15</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE><D>de-clercq</D><D>yeutter</D></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A F
&#22;&#22;&#1;f0597&#31;reute
r f BC-U.S.-WARNS-OF-TRADE-B   04-27 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. WARNS OF TRADE BILL, EC ATTACKS JAPAN</TITLE>
<DATELINE>    KASHIJIMA, Japan, April 27 - </DATELINE><BODY>The U.S. warned its major
trade partners that its trade deficit must fall by September or
a protectionist trade bill from Congress would be highly
likely.
    Meanwhile, European Community (EC) external trade chief
Willy de Clercq said that if Japan's trade surplus, which hit
almost 90 billion dlrs last year, continued so high, there
would be stormy weather ahead.
    U.S. Trade representative Clayton Yeutter told trade
leaders from Japan, the EC and Canada that there was at least a
50-50 chance that a protectionist bill reaching the House of
Representatives this week would pass the Senate in September.
    The U.S. economy badly needed better trade figures by then,
or President Ronald Reagan would have a difficult time vetoing
such a bill, he said, according to a series of briefings to
reporters by official delegates at the weekend meeting.
    A 15 billion dlr U.S. Trade deficit in March had only
incensed Congress further, he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21902" NEWID="17280">
<DATE>27-APR-1987 07:28:06.01</DATE>
<TOPICS><D>grain</D><D>rice</D></TOPICS>
<PLACES><D>thailand</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0599&#31;reute
r f BC-THAILAND-TO-SEEK-CLAR   04-27 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>THAILAND TO SEEK CLARIFICATION ON U.S. RICE PRICES</TITLE>
<DATELINE>    BANGKOK, April 27 - </DATELINE><BODY>Thailand will this week seek
clarification from the U.S. About its decision to freeze rice
export prices from January to early April, Commerce Minister
Montri Pongpanich said.
    Montri told reporters he will seek a meeting with U.S.
Ambassador William Brown to determine why the U.S. Failed to
set its weekly rice prices in accordance with rising world
prices during the period.
    He said the U.S. Has followed a policy of weakening world
rice prices by announcing highly subsidised export prices lower
than those quoted by Thai traders.
    Thai officials said weekly rice prices as announced by the
U.S. Agriculture Department were unchanged for 11 weeks up to
April 8.
    Thailand, a major rice exporter, has criticised the U.S.
Farm Act which provides heavy subsidies to U.S. Exporters
enabling them to compete with Thai exporters.
    Thai officials said average export prices of Thai rice fell
19 pct last year and another 5.8 pct during the first quarter
this year.
    The Board of Trade said Thailand exported 1.23 mln tonnes
in January/March, down from 1.29 mln a year ago.
    It said the export decline was partly due to the reluctance
of Thai traders to accept all foreign orders as world prices
did not rise in line with firming domestic prices.
    The board said, however, that Thailand may export more rice
later this year, especially to Africa, the Middle East and
Asia, due to lower production in many drought affected African
countries and to expected small exportable surpluses in Burma
and Pakistan.
    It said Thai rice exports to nine major African buyers rose
to 351,889 tonnes during the first quarter from 93,038 a year
earlier.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21903" NEWID="17281">
<DATE>27-APR-1987 07:28:29.65</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0601&#31;reute
r f BC-NEW-POLL-PUTS-BRITISH   04-27 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW POLL PUTS BRITISH CONSERVATIVES WELL AHEAD</TITLE>
<DATELINE>    LONDON, April 27 - </DATELINE><BODY>Britain's ruling Conservatives
maintained a commanding lead in a new opinion poll, reinforcing
views that Prime Minister Margaret Thatcher is poised to call a
general election in June.
    The Harris poll published in the Observer newspaper gave
the Conservatives the support of 42 pct of those questioned,
Labour 31 pct, and the Liberal-Social Democratic Alliance
trailing with 25 pct.
    This would give the Conservatives a 94-seat overall
majority in the House of Commons.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21904" NEWID="17282">
<DATE>27-APR-1987 07:28:38.38</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>de-clercq</D></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A F
&#22;&#22;&#1;f0602&#31;reute
r f BC-EC-SAYS-JAPAN-CAR-EXP   04-27 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>EC SAYS JAPAN CAR EXPORT RESTRAINT NOT ENOUGH</TITLE>
<DATELINE>    KASHIKOJIMA, JAPAN, April 27 - </DATELINE><BODY>Japan's 1987 car export
restraint to the European Community (EC) is not enough, EC
external trade chief Willy de Clercq said.
    There are also strong signs Japanese exporters are
diverting cars to the EC after the dollar's fall against the
yen made their U.S. market unprofitable, he told reporters
after meeting U.S., Japanese, and Canadian trade ministers.
    The EC has agreed that if it detects an abnormal diversion
in Japanese exports from the U.S. To the EC market due to
currency movements over the past two years, it will move to
prevent it, he said.
    Over the period, the yen has risen against the dollar
almost eight times as fast as against the European Currency
Unit, he said.
    Japan has set an unofficial, voluntary 10 pct rise in car
exports to the EC this year as part of its efforts to stop its
rising trade surplus with the Community, which hit a record 18
billion dlrs last year.
    But Japanese car exports to the EC so far this year jumped
over 30 pct compared to a drop of 17 pct in U.S. Sales, and a
seven per cent fall globally. "We think there is some diversion
there," said de Clercq.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21905" NEWID="17283">
<DATE>27-APR-1987 07:28:53.17</DATE>
<TOPICS><D>trade</D><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A F
&#22;&#22;&#1;f0604&#31;reute
r f BC-G-7-OFFICIALS-TO-DECI   04-27 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>G-7 OFFICIALS TO DECIDE ON SUMMIT AGENDA</TITLE>
<DATELINE>    OSAKA, Japan, April 27 - </DATELINE><BODY>Senior officials from the Group of
Seven (G-7) countries will meet next week to decide an agenda
for the body's June summit scheduled to be held in Venice,
Japanese officials said.
    The meeting will provide senior government officials with
their first chance to discuss the recent sharp drop of the
dollar, although the main focus of the gathering is longer
term, they said.
    Deputy Finance Ministers, including Japanese Vice-Finance
Minister Toyoo Gyohten, will attend. The meeting will be held
in Italy, they said, but gave no other details.
    The leaders of the G-7, the United States, Britain, Canada,
France, Italy, Japan and West Germany, are expected to discuss
ways of improving economic policy coordination in Venice.
    The hope is that increased coordination will help reduce
the huge imbalances in world trade and calm volatile currency
markets. But economists say the strategy has so far not worked.
    Japanese officials admitted there is little more they can
do on their own to stem the dollar decline, which last week saw
the currency plunge to a post-war low below 140 yen.
    The officials said they expected sentiment against the
dollar to change soon, once the U.S. Trade deficit starts to
fall and the Japanese surplus begins to shrink.
    "We have already seen some signs of improvement (in the
trade picture), but the market does not appreciate it yet," one
said.
    Last week's passage of the Japanese government budget by
parliament's Lower House also paves the way for Tokyo to take
additional action to stimulate its sagging economy and boost
imports, the officials said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21906" NEWID="17284">
<DATE>27-APR-1987 07:31:11.28</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0619&#31;reute
b f BC-BANK-OF-ENGLAND-DOES   04-27 0047</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF ENGLAND DOES NOT INTERVENE IN MONEY MARKET</TITLE>
<DATELINE>    LONDON, April 27 - </DATELINE><BODY>The Bank of England said it did not
intervene in the money market during the morning.
    It also said that it had raised its estimate of the
liquidity shortage in the market to 450 mln stg from 400 mln.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21907" NEWID="17285">
<DATE>27-APR-1987 07:31:38.46</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>japan</D><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0624&#31;reute
d f BC-JAPANESE-FIRMS-TO-SEL   04-27 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPANESE FIRMS TO SELL AUSTRALIAN GOLD COINS</TITLE>
<DATELINE>    TOKYO, April 27 - </DATELINE><BODY>Three Japanese trading companies and one
coin retailer will start selling Australia's Nugget gold coins
in Japan from May 12 after actively buying at the first
international trading of the coins last Thursday, officials
involved in the sale said.
    They estimated Japanese companies bought 30 pct of 155,000
ounces sold on Thursday.
    The coins are likely to be sold in Japan at prices similar
to the South African krugerrand.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21908" NEWID="17286">
<DATE>27-APR-1987 07:31:47.80</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0625&#31;reute
d f AM-CATERPILLAR   04-27 0134</UNKNOWN>
<TEXT>&#2;
<TITLE>WORKERS VOTE TO LEAVE CATERPILLAR &lt;CAT> PLANT</TITLE>
<DATELINE>    LONDON, April 27 - </DATELINE><BODY>Strikers at the Caterpillar Inc tractor
plant near Glasgow, due to be closed by the U.S.-owned firm,
voted to end their occupation of the factory after more than
three months.
    A meeting attended by 700 of the plant's 1,200 workers
approved an agreement reached with management on Thursday after
four days of talks. Production will resume today.
    The agreement calls for the establishment of a working
group of representatives from both sides, which has been given
until October 16 to find a new buyer for the factory.
    The company has promised that there will be no job losses
before that date. Workers began their occupation on January 14
after Caterpillar said it planned to close the plant and lay
off the entire work force.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21909" NEWID="17287">
<DATE>27-APR-1987 07:31:54.89</DATE>
<TOPICS><D>alum</D><D>iron-steel</D><D>pet-chem</D></TOPICS>
<PLACES><D>venezuela</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A F
&#22;&#22;&#1;f0626&#31;reute
d f BC-VENEZUELA-FINANCE-MIN   04-27 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>VENEZUELA FINANCE MINISTER TO JAPAN IN MID-MAY</TITLE>
<DATELINE>    CARACAS, April 27 - </DATELINE><BODY>Finance Minister Manuel Azpurua said
today he will travel to Japan in mid-May to seek new credits
for planned expansions in Venezuela's state aluminum, steel and
petrochemical industries.
    Azpurua told reporters he will be accompanied by Central
Bank President Hernan Anzola and Director of Public Finance
Jorge Marcano.
    'The idea is to hold meetings with Japanese economic and
financial authorities, with the banks which have business and
credits in Venezuela and with some of the Japanese companies
already active here,' Azpurua said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21910" NEWID="17288">
<DATE>27-APR-1987 07:32:04.63</DATE>
<TOPICS></TOPICS>
<PLACES><D>barbados</D><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0627&#31;reute
w f BC-regional-central-bank   04-27 0118</UNKNOWN>
<TEXT>&#2;
<TITLE>CENTRAL BANK GOVERNORS TO MEET IN BARBADOS</TITLE>
<DATELINE>    BRIDGETOWN, BARBADOS, April 27 - </DATELINE><BODY>Central bank governors
from Spain, Latin America and the Caribbean will meet here this
week at two separate conmferences to discuss finance and
monetary problems, the Central Bank of Barbados said.
    The 24th session of central bank governors of the american
continent opens today for two days. Central bank governors of
Latin America and Spain will hold a separate conference from
april 29-30.
    Representatives of the Inter American Development Bank, the
International Monetary Fund and other international financial
organizations will attend both conferences.
    The Central Bank of Barbados gave no agenda for the
meetings
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21911" NEWID="17289">
<DATE>27-APR-1987 07:32:15.73</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>indonesia</D></PLACES>
<PEOPLE><D>subroto</D></PEOPLE>
<ORGS><D>opec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0628&#31;reute
u f BC-WORLD-OIL-DEMAND-LIKE   04-27 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>WORLD OIL DEMAND LIKELY TO INCREASE, SUBROTO SAYS</TITLE>
<DATELINE>    JAKARTA, April 27 - </DATELINE><BODY>Oil prices have stabilized in world
markets and demand is likely to increase in the second half of
the year, Indonesia's Mines and Energy Minister Subroto said.
    He told a meeting of oil industry executives that oil
prices had stabilized at 18 dlrs a barrel -- the average fixed
price OPEC put into effect in February -- and supply and demand
have been in equilibrium since March.
    If OPEC does not increase overall output in the second half
of the year, prices will tend to increase, because non-OPEC
producers have not been able to produce more oil at current
prices, he said.
    But he declined to predict, when asked after the meeting,
whether OPEC would raise its production ceiling of 15.8 mln
barrels at its next meeting in June.
    He said in his speech that world oil production over the
last two months was estimated at 45.6 mln barrels a day, or two
mln barrels a day less than world oil demand.
    Oil production by industrialized countries, particularly
the U.S. And Canada, is expected to decrease this year, but
some of that slack will be taken up by increased production in
Cameroon, India and other developing countries, he said.
    This year is a battle between OPEC and non-OPEC oil
producers and consumers in the industrialized world for the
upper hand in world oil markets, Subroto said in an earlier
speech to management trainees at Pertamina Oil Company.
    "If OPEC emerges the winner, than it can gradually resume
its former role in world oil markets," he said.
    "But don't expect oil prices to return to the level of 28-30
dlrs a barrel, at least not in the next three or four years,"
Subroto said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21912" NEWID="17290">
<DATE>27-APR-1987 07:33:56.13</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D><D>usa</D><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0636&#31;reute
r f PM-ARMS-TALKS ***  04-27 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>SOVIETS TO PRESENT TREATY ON MISSILES - SOURCES</TITLE>
<DATELINE>    GENEVA, April 27 - </DATELINE><BODY>The Soviet Union will present a draft
treaty today calling for elimination of all U.S.-Soviet
medium-range missiles in Europe, an official source in the
Soviet arms negotiating team told Reuters.
    The draft treaty will be handed over to the American team
negotiating on medium-range missiles during talks at the U.S.
Diplomatic mission in Geneva this afternoon, the source said.
    The United States presented its draft treaty, which would
also scrap the so-called "Euromissiles," during a previous round
of negotiations in early March.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21913" NEWID="17291">
<DATE>27-APR-1987 07:40:04.43</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>cyprus</D><D>saudi-arabia</D><D>iran</D><D>iraq</D><D>kuwait</D><D>nigeria</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>opec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0646&#31;reute
u f BC-SAUDIS-NOT-SEEKING-OI   04-27 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>SAUDIS NOT SEEKING OIL PRICE ABOVE 18 DLRS - MEES</TITLE>
<DATELINE>    NICOSIA, April 27 - </DATELINE><BODY>Saudi Arabia will not seek to push OPEC
oil prices above the current benchmark of 18 dlrs per barrel
unless oil demand grows strongly, the Middle East Economic
Survey (MEES) said.
    The Cyprus-based weekly newsletter quoted authoritative
Saudi sources as saying the Kingdom's oil price policy would
not change "unless and until there is a strong revival in the
growth of demand for oil."
    MEES said this contradicted recent hints of new Saudi price
hawkishness from U.S. Congressional and oil industry sources.
    The Saudi sources said their policy was firmly based on the
long-term need to restore the competitive position of oil in
general and OPEC oil in particular against other energy
sources.
    "Saudi Arabia is certainly committed to cooperating with its
OPEC partners to exercise the necessary production restraint to
maintain the 18 dlr per barrel reference price level," MEES
said.
    The newsletter said Saudi output in the first three weeks
of April averaged slightly above its OPEC quota of 4.133 mln
barrels per day (bpd). Output would fall in the last week,
causing the month's average to be below quota, MEES said.
    MEES estimated overall OPEC production for April at around
16.8-16.9 mln bpd -- two mln bpd more than both its figures for
March and Reuter estimates for March.
    It said Iranian production had risen by 500,000 bpd this
month to 2.2-2.3 mln bpd, around its quota level. In Iraq, with
an OPEC-assigned quota of 1.466 mln bpd, output rose this month
to two mln bpd, not including "war relief" supplies from Kuwait
and Saudi Arabia, the newsletter said.
    Nigeria, which has had problems selling its full 1.238 mln
bpd entitlement, increased its output to 1.2 mln bpd, it added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21914" NEWID="17292">
<DATE>27-APR-1987 07:40:49.36</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>india</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0649&#31;reute
r f BC-INDIAN-BANKER-SAYS-RA   04-27 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>INDIAN BANKER SAYS RATES CUT AFFECTS PROFITABILITY</TITLE>
<DATELINE>    BOMBAY, April 27 - </DATELINE><BODY>The cut in the lending rates and other
changes made in the interest rates will hit the profitability
of many commercial banks in India, Indian Banks' Association
chairman M. N. Goiporia told a bankers' conference.
    The changes were announced by the Reserve Bank of India on
March 31 and became effective on April 1.
    "Some of the latest credit policy measures such as reduced
lending rates, raising the statutory liquidity ratio and
restructuring of deposit rates will pose a potential threat to
commercial banks' continuing higher profitability levels," he
said.
    Goiporia said most foreign and Indian commercial banks
including those owned by the government have been making
profits over the years, mainly due to better fund management
and the enlargement of the banks' capital base. He did not
elaborate.
    The Reserve Bank's new credit policy for commercial banks
cut the maximum lending rate by one pct to 16.5 pct, raised
rates on deposits of two years by a half pct to nine pct and by
one pct to 10 pct on deposits of more than two years. To cut
excess liquidity in the industry, the Reserve Bank raised the
banks' liquidity ratio by a half pct to 37.5 pct, immobilising
nearly five billion rupees of deposits, bankers said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21915" NEWID="17293">
<DATE>27-APR-1987 07:46:34.04</DATE>
<TOPICS><D>money-fx</D><D>dlr</D><D>lit</D></TOPICS>
<PLACES><D>italy</D><D>france</D><D>usa</D></PLACES>
<PEOPLE><D>balladur</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0659&#31;reute
b f BC-BALLADUR-URGES-ADHERE   04-27 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>BALLADUR URGES ADHERENCE TO G-7 CURRENCY ACCORDS</TITLE>
<DATELINE>    MILAN, April 27 - </DATELINE><BODY>French Finance Minister Edouard Balladur
said the Group of Seven major industrial nations, G-7, can
achieve stable currency values by adhering to accords reached
this year in Paris and Washington.
    Balladur, asked at a news conference if coordinated market
intervention by central banks was sufficient to halt the
dollar's recent slide, said "each country has to fulfill
commitments" outlined in the G-7 accords.
    Earlier this month in Washington, finance ministers of the
U.S., Japan, West Germany, France, Italy, Britain and Canada
reaffirmed an earlier Paris accord to arrest the dollar's fall.
    Balladur said the current nervousness in foreign exchange
markets can be partly attributed to "some operators in the
market only watching short term economic indicators. You have
to keep a cool head," he said, declining to elaborate further.
    In an earlier speech before the Milan Chamber of Commerce,
the minister said European countries have to seek "a better
consensus of economic and monetary policies."
    On the European Monetary System, he said, "The persistent
vulnerability of the foreign currency mechanism, particularly
to the movements of the dollar, can be explained by the absence
of a common policy for currencies of other countries."
    Balladur said, "I am profoundly convinced that the European
countries have to define together this position with respect to
the dollar and the yen."
    He said Italy eventually would have to abandon its higher
margin of fluctuation within the European Montetary System. "I
hope that the spectacular improvement of the economic situation
and of the balance of payments will permit (Italy) to do it
soon."
    The lira is currently allowed a fluctuation margin either
side of its agreed midpoints with other EMS currencies of six
pct, against 2.25 pct permitted for the other members.
  REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21916" NEWID="17294">
<DATE>27-APR-1987 07:57:49.23</DATE>
<TOPICS></TOPICS>
<PLACES><D>norway</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>ose</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0683&#31;reute
r f BC-NORWAY-BOURSE-PRICE-B   04-27 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>NORWAY BOURSE PRICE BOOM WILL NOT LAST - ANALYSTS</TITLE>
<AUTHOR>    By Nicholas Doughty, Reuters</AUTHOR>
<DATELINE>    OSLO, April 27 - </DATELINE><BODY>Norway's stock exchange has touched record
levels, propelled by higher oil prices and foreign buying
interest. But analysts say the bullish trend probably will not
last. Tight restrictions on foreign ownership of shares have
held back development on the market, they say. While some of
these rules could soon be eased, Norway's unresolved economic
woes mean the prices boom is likely to be short-lived.
    Last Thursday, the all-share index reached 325.48 points to
beat the previous record of 325.31 set in mid-November, 1985.
    Brokers say the new record, spurred by firmer oil prices
above 18 dlrs a barrel which are crucial to Norway's economy,
has for now set the Oslo bourse apart from the current
fluctuations on other world stock markets.
    "It's an underdeveloped market...Virgin territory ," Jenny
Tora, a Scandinavian securities analyst with London-based
stockbrokers James Capel, told Reuters.
    But the attraction for foreign investors of the stock
market, where price/earnings ratios average around a relatively
low 11, is tempered by restrictions and some nervousness about
the future of Norway's economy, analysts say.
    Foreign ownerhsip is limited in all sectors and varies
between 10 and 40 pct of the shares of any company - and the
class of shares rarely carry voting rights.
    "It's often hard to get stocks as the quotas are full," Tora
said. "There can be problems of liquidity in the market. You can
get into the market, but perhaps not get out."
    Analysts said this meant that foreign interest had been
restricted mostly to professional trading rather than client
buying, and that the market missed some speculative impetus.
    There are also no stock options, and bonds cannot be held
by foreigners in Norwegian securities trading.
    Thor Bang, chief economist at Den Norske Creditbank A/S,
Norway's biggest bank, said he thought the stocks boom had
little foundation in Norway's economic situation.
    "One of the factors (in the rise) is a belief in...Political
stability," he told Oslo's business daily, Dagens Naeringsliv.
    The minority Labour government has looked increasingly
stable since it came to power in May, 1986, with the former
right-centrist coalition in disarray.
    But stock market analysts say continued economic problems
could soon jeopardise the bourse's bull trend, in spite of the
appreciation of the crown against the dollar.
    Although firming oil prices mean better news for Norway,
Western Europe's biggest oil producer after Britain, analysts
point to high interest rates, uncertainty over the future price
of oil and a weighty current account balance of payments
deficit as threats to the bourse.
    Interest rates stand at around 14 pct, while annual
inflation is 10 pct. The current account balance of payments
deficit stood at 32.8 billion crowns last year, against a
surplus of 26.8 billion crowns in 1985.
    "I'd be very cautious about present stock levels," Chris
Honnor of London-based brokers Grieveson Grant said.
    The record-breaking performance last Thursday meant that
the all-share index had increased by 16 pct from the start of
1987.
    On Friday the index leapt another 7.78 points to 333.26.
But analysts noted this was largely due to much better than
expected profits in the first quarter from Norsk Hydro,
Norway's largest diversified corporation.
    Foreign investors, spurred by the appreciating crown and
the rise in oil prices, have been more prominent in the market
this year, although they still trade selectively mainly in
Norsk Hydro, Norsk Data and a few other top-traded industrials.
    Earlier this month the government proposed allowing the
share of foreign ownerhsip permitted in financial institutions
to rise in a bid to boost competition. Depending on the
circumstances, the share foreign owners can have will rise from
10 pct to between 15 and 25 pct.
    Saga Petroleum, Norway's largest fully private oil company,
has also said it will seek government permission to boost
permitted foreign share ownerhsip to 40 pct from the present 20
pct. Saga shares have registered some of the strongest gains on
the bourse because of the move, adding more than 60 pct to
their value so far this year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21917" NEWID="17295">
<DATE>27-APR-1987 08:02:36.89</DATE>
<TOPICS></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0696&#31;reute
u f BC-G-7-OFFICIALS-TO-MEET   04-27 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>G-7 OFFICIALS TO MEET IN SARDINIA THIS WEEK</TITLE>
<DATELINE>    ROME, April 27 - </DATELINE><BODY>Representatives of the Group of Seven will
meet in the Sardinian resort of Porto Cervo from April 30 to
May 2 to discuss the agenda for the group's Venice summit in
June, sources close to the Italian Foreign Ministry said.
    The sources said the meeting would be informal and attended
by the personal representatives of G-7 leaders.
    The sources did not comment on reports from Osaka that
deputy finance ministers would attend the Porto Cervo meeting,
and said there would be a complete information blackout on the
gathering.
    The sources had no comment on statements by Japanese
officials in Osaka yesterday that the falling dollar would be
among topics discussed.
    The Japanese officials had said the meeting, while focusing
on longer-term issues, would provide senior government
officials with their first chance to discuss the recent sharp
drop of the dollar.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21918" NEWID="17296">
<DATE>27-APR-1987 08:15:16.13</DATE>
<TOPICS><D>money-fx</D><D>trade</D></TOPICS>
<PLACES><D>usa</D><D>australia</D><D>japan</D></PLACES>
<PEOPLE><D>james-baker</D><D>nakasone</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0736&#31;reute
u f AM-BAKER   04-27 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. TREASURY'S BAKER CANCELS TRIP TO AUSTRALIA</TITLE>
<DATELINE>    WASHINGTON, April 27 - </DATELINE><BODY>Treasury Secretary James Baker has
cancelled a trip to Australia because of pressing business at
home, including the visit this week by Japanese Prime Minister
Yasuhiro Nakasone, a Treasury spokesman said.
    The spokesman, who asked not to be identified, said: "I
would not draw any conclusion from the cancellation...I would
just say it's the press of business."
    But he added that the visit by the Japanese leader was "part
of the press of business."
    The spokesman denied the cancellation was linked to the
current turmoil in the financial markets.
   
    Nakasone's visit is expected to be crucial for the currency
markets. Unless the Japanese prime minister brings with him
measures to stimulate the Japanese economy by fiscal expansion
or lower interest rates, the visit is likely to be considered
by currency markets as an outright failure.
    In addition, it is thought highly unlikely that Nakasone
and Reagan will agree on the removal of U.S. trade sanctions
imposed earlier this month on certain electronic goods.
    But the participation in the talks by Baker, the
administration's top policy maker on international economic
affairs, suggests that hard bargaining between the two sides
may be in prospect.
   
    Asked if the trip by Baker, who was to have left April 30
and returned May 6, had been dropped in the last couple of
days, the Treasury spokesman replied: "I would think so."
    He described the trip as "purely ceremonial."
    Both Japan and the United States have a lot to lose from an
unsuccessful outcome to the this week's talks.
    Tokyo and Washington are aware that nervous currency 
markets stand ready to bail out of dollars and buy yen, which
economists fear could send world interest rates soaring and
even lead to global recession.
    Baker has been the driving force behind the
administration's efforts to coordinate international economic
policies and reduce global trade imbalances.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21919" NEWID="17297">
<DATE>27-APR-1987 08:16:35.20</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>adb-asia</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0746&#31;reute
r f BC-CHINA-TO-HOST-1989-AD   04-27 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA TO HOST 1989 ADB ANNUAL MEETING</TITLE>
<DATELINE>    OSAKA, April 27 - </DATELINE><BODY>The 22nd annual meeting of the Asian
Development Bank will be held in Peking in 1989, a senior bank
official told Reuters.
    China, which was admitted as the bank's 47th member in
March 1986, will take a place on the ADB board at the current
meeting here, he said.
    Peking's representatives have been attending board meetings
over the past year as observers with no voting rights, he
added.
    He said China, the bank's third-largest shareholder after
Japan and the United States, will take the seat on the
12-member board currently occupied by a grouping of Sri Lanka,
Vietnam, the Maldives, Laos and Afghanistan.
    He also said the U.S., Whose nominee on the board, Joe O.
Rogers, resigned in September 1986, has named Victor Frank as
his replacement.
    Frank, a private-sector appointee, is awaiting Senate
approval and will take up his post later this year, he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21920" NEWID="17298">
<DATE>27-APR-1987 08:17:09.02</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>herrington</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0748&#31;reute
r f BC-U.S.-CONSIDERING-OIL   04-27 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. CONSIDERING OIL INDUSTRY TAX INCENTIVES</TITLE>
<DATELINE>    HOUSTON, April 27 - </DATELINE><BODY>The Reagan Administration is
considering tax incentives to boost oil output and restore
100,000 jobs, U.S. Energy Secretary John Herrington said.
    A tax credit for new exploration would be part of a package
to bring 1,000 idle drilling rigs back into operation and raise
domestic production by one mln barrels a day, he said.
    The tax status of exploration might also be changed,
Herrington told reporters at the World Petroleum Congress.
    He said the oil industry was experiencing difficult times
internationally and had been devastated in the United States.
    Consumer demand and a significant decline in domestic
production has resulted in a rise in oil imports of one mln
barrels a day in over the last 16 months, Herrington said.
    "Steps must be taken...To reverse the downturn in our
domestic energy industry and to safeguard and increase our
energy security," he said.
    The administration is committed to improving marketplace
conditions and incentives to spur exploration and development.
    "This commitment includes rejecting quick fix solutions,
like an oil import fee, which are bad for the United States and
bad for the world," he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21921" NEWID="17299">
<DATE>27-APR-1987 08:18:43.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0754&#31;reute
h f BC-G-7-OFFICIALS-TO-MEET   04-27 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>G-7 OFFICIALS TO MEET IN SARDINIA THIS WEEK</TITLE>
<DATELINE>    ROME, April 27 - </DATELINE><BODY>Representatives of the Group of Seven will
meet in the Sardinian resort of Porto Cervo from April 30 to
May 2 to discuss the agenda for the group's Venice summit in
June, sources close to the Italian Foreign Ministry said.
    The sources said the meeting would be informal and attended
by the personal representatives of G-7 leaders.
    The sources did not comment on reports from Osaka that
deputy finance ministers would attend the Porto Cervo meeting,
and said there would be a complete information blackout on the
gathering.

    The sources had no comment on statements by Japanese
officials in Osaka yesterday that the falling dollar would be
among topics discussed.
    The Japanese officials had said the meeting, while focusing
on longer-term issues, would provide senior government
officials with their first chance to discuss the recent sharp
drop of the dollar.

 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21922" NEWID="17300">
<DATE>27-APR-1987 08:19:58.38</DATE>
<TOPICS><D>money-fx</D><D>dlr</D><D>lit</D></TOPICS>
<PLACES><D>italy</D><D>france</D></PLACES>
<PEOPLE><D>balladur</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0762&#31;reute
h f BC-BALLADUR-URGES-ADHERE   04-27 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>BALLADUR URGES ADHERENCE TO G-7 CURRENCY ACCORDS</TITLE>
<DATELINE>    MILAN, April 27 - </DATELINE><BODY>French Finance Minister Edouard Balladur
said the Group of Seven major industrial nations, G-7, can
achieve stable currency values by adhering to accords reached
this year in Paris and Washington.
    Balladur, asked at a news conference if coordinated market
intervention by central banks was sufficient to halt the
dollar's recent slide, said "each country has to fulfill
commitments" outlined in the G-7 accords.
    Earlier this month in Washington, finance ministers of the
U.S., Japan, West Germany, France, Italy, Britain and Canada
reaffirmed an earlier Paris accord to arrest the dollar's fall.

    Balladur said the current nervousness in foreign exchange
markets can be partly attributed to "some operators in the
market only watching short term economic indicators. You have
to keep a cool head," he said, declining to elaborate further.
    In an earlier speech before the Milan Chamber of Commerce,
the minister said European countries have to seek "a better
consensus of economic and monetary policies."
    On the European Monetary System, he said, "The persistent
vulnerability of the foreign currency mechanism, particularly
to the movements of the dollar, can be explained by the absence
of a common policy for currencies of other countries."

    Balladur said, "I am profoundly convinced that the European
countries have to define together this position with respect to
the dollar and the yen."
    He said Italy eventually would have to abandon its higher
margin of fluctuation within the European Montetary System. "I
hope that the spectacular improvement of the economic situation
and of the balance of payments will permit (Italy) to do it
soon."
    The lira is currently allowed a fluctuation margin either
side of its agreed midpoints with other EMS currencies of six
pct, against 2.25 pct permitted for the other members.
 
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21923" NEWID="17301">
<DATE>27-APR-1987 08:20:24.50</DATE>
<TOPICS><D>iron-steel</D></TOPICS>
<PLACES><D>japan</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E A
&#22;&#22;&#1;f0764&#31;reute
r f BC-JAPAN-STEELMAKERS,-CA   04-27 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN STEELMAKERS, CANADA MINE DISCUSS COAL PRICE</TITLE>
<DATELINE>    TOKYO, April 27 - </DATELINE><BODY>&lt;Quintette Coals Ltd> of Canada and
Japanese steelmakers failed to agree on the Canadian coal base
price over four years from April 1, but agreed to have another
round of talks in late May, officials involved said.
    Japanese firms have asked for the base price to be set at
44 U.S. Dlrs per tonne (FOB), sharply lower than the 75 to 76
dlrs of the past four years, they told Reuters. The base price
is reviewed every four years under the long-term accord.
    The Canadian mine insisted on maintaining the present
price, they said.
    Japanese firms bought 4.75 mln tonnes of Quintette coal in
1986/87, and plan to buy the same volume in 1987/88 depending
on the result of the talks, the officials said. They added
Japan has no plans to withdraw its price cutback request due to
recent falls in coking coal prices on the world market.
    Meanwhile &lt;Gregg River Co> of Canada has agreed on a
Japanese proposal to set a temporary price of 75.80 Canadian
dlrs on and after May shipment following the failure of the
1987/88 price talks, they said. Japanese firms plan to buy
150,000 tonnes of Gregg River coal for May shipment and hold
another round of talks with Gregg in late May, they added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21924" NEWID="17302">
<DATE>27-APR-1987 08:27:25.36</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>south-korea</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0796&#31;reute
r f BC-TOP-EXECUTIVE-OF-PAN   04-27 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>TOP EXECUTIVE OF PAN OCEAN SHIPPING CHARGED</TITLE>
<DATELINE>    SEOUL, April 27 - </DATELINE><BODY>South Korean prosecutors formally charged
the chief executive of Pan Ocean Shipping Company, the
country's largest shipping firm, with alleged financial
offences.
    A statement from the prosecutors' office said charges of
illegal capital movement, violation of foreign exchange laws
and tax evasion were laid against Hahn Sang-yon, president of
the hugely indebted company whose chairman, Park Ken-sek, fell
to his death a week ago.
    Prosecutors said that over the past six years Hahn and Park
illegally sent abroad more than 15 mln dlrs.
    The prosecutors said that the two executives used more than
2.7 mln dlrs of the diverted funds to acquire U.S. Real estate.
The Office of National Tax Administration has sent banking
experts to the United States to investigate.
    Park plunged to his death from his 10th floor office window
on April 19.
    Finance Minister Chung In-young last week ordered the
state-owned Korea Exchange Bank to take over Pan Ocean,
burdened by debts of more than 1,000 billion won.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21925" NEWID="17303">
<DATE>27-APR-1987 08:39:29.16</DATE>
<TOPICS><D>ipi</D><D>inventories</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0849&#31;reute
h f BC-JAPAN-INDUSTRIAL-PROD   04-27 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN INDUSTRIAL PRODUCTION RISES IN MARCH</TITLE>
<DATELINE>    TOKYO, April 27 - </DATELINE><BODY>Japan's preliminary industrial production
index (base 1980) rose 0.7 pct to a seasonally adjusted 122.8
in March from the previous month, the Ministry of International
Trade and Industry said.
    Production had fallen 0.2 in Feburary from a month earlier.
    The preliminary, unadjusted March index fell 0.2 pct from a
year earlier after remaining flat in Feburary.

    The adjusted March producers' shipment index (same base)
fell 0.6 to 117.3 from February. The unadjusted index rose 0.3
pct from a year earlier.
    The adjusted March index of producers' inventories of
finished goods (same base) rose 0.7 pct to 105.4 from Feburary.
The unadjusted index fell 1.1 pct from a year earlier.

 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21926" NEWID="17304">
<DATE>27-APR-1987 08:40:20.43</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE><D>nakasone</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0852&#31;reute
u f BC-NAKASONE-ADVISED-TO-E   04-27 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>NAKASONE ADVISED TO EXPAND PURCHASES ABROAD</TITLE>
<DATELINE>    TOKYO, April 27 - </DATELINE><BODY>Prime Minister Yasuhiro Nakasone was
advised to work out a plan for his government to buy more than
one billion dlrs worth of foreign industrial products as part
of efforts to defuse Japan's trade frictions with the United
States, officials said.
    Former Foreign Minister Shintaro Abe made the
recommendation at a meeting with Nakasone soon after returning
from a U.S. Visit designed to pave the way for the prime
minister's visit to Washington starting next Wednesday.
    Abe met President Ronald Reagan and U.S. Congressional
leaders during his visit.
    It was not known how Nakasone responded to the suggestion.
    It also included increasing the nation's untied loans to
developing countries to between 25 billion and 30 billion dlrs
over the next three years and giving foreign firms greater
access to a six billion dlr international airport project in
western Japan, officials said.
    Abe called for tax cuts and government funds to be funneled
into public works projects to stimulate domestic demand. Abe
spoke of the possibility that Nakasone's visit could coincide
with the passage of a protectionist trade bill by the U.S.
House of Representatives.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21927" NEWID="17305">
<DATE>27-APR-1987 08:43:28.47</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE><D>nakasone</D><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A F
&#22;&#22;&#1;f0861&#31;reute
r f BC-NAKASONE-TO-MEET-REAG   04-27 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>NAKASONE TO MEET REAGAN AMID TRADE TENSIONS</TITLE>
<AUTHOR>    By Yuko Nakamikado, Reuters</AUTHOR>
<DATELINE>    TOKYO, April 27 - </DATELINE><BODY>Prime Minister Yasuhiro Nakasone,
beleaguered by political turmoil at home, sets out Wednesday on
a tough mission to Washington aimed at defusing the most
serious U.S.-Japanese trade tension in recent memory.
    Two rounds of talks between President Reagan and Nakasone,
scheduled for Thursday and Friday, come on the heels of the
imposition by the United States of punitive tariffs on Japanese
goods for the first time since World War Two.
    In the past, bilateral trade friction involving cotton
goods, steel, television sets, textiles and cars have ended
with Japan taking on voluntary export curbs.
    Nakasone's visit could coincide with the passage of a
protectionist trade bill by the U.S. House of Representatives.
    A proposed amendment to the bill, drafted by Representative
Richard Gephardt of Missouri, will mandate a 10 pct annual
reduction in the trade surpluses of Japan and other nations
which have large trade gaps with the United States.
    The United States last year had a record trade deficit of
169.8 billion dlrs and Japan accounted for about one-third.
    Foreign Ministry spokesman Yoshifumi Matsuda said recently
he was reasonably optimistic about the results of talks between
the two leaders.
    Top U.S. and Japanese officials have shuttled back and
forth across the Pacific to lay the groundwork for Nakasone's
visit. The last of the talks leading up to the main event will
be in Washington next Wednesday between U.S. Secretary of State
George Shultz and Foreign Minister Tadashi Kuranari.
    Nakasone will have an economic package worked out by the
ruling Liberal Democratic Party (LDP) and by an advisory body
led by former Bank of Japan Governor Haruo Maekawa.
    Japan plans to spend over 5,000 billion yen to boost
domestic demand, increase imports of U.S. products including
supercomputers and give more help to developing countries,
government officials said.
    The government has been making last ditch efforts in time
for Nakasone's trip to address outstanding bilateral issues,
officials said.
    The issues include foreign access to a new Japanese
overseas telecommunications venture and a six billion dlr
international airport project in western Japan.
    Nakasone and his party last week reached a compromise
accord with opposition parties over a controversial sales tax
plan in exchange for parliamentary passage by the Lower House
of a government draft budget for 1987/88.
    The accord, offered by House Speaker Kenzaburo Hara,
virtually killed the Nakasone-sponsored plan, but left room for
future tax reform plans, political analysts said.
    Nakasone, who led his party to a resounding electoral
triumph last July, saw his popularity drop because of the sales
tax.
    His party suffered setbacks in an Upper House by-election
and nationwide local elections in the past two months.
    Mitsuru Uchida, professor of political science at Waseda
University, told Reuters: "I doubt that whatever Nakasone does
in Washington -- no matter how good it might be -- would help
restore his weakened power-base at home."
    Many analysts said Nakasone might step down after the
Venice summit of industrialized nations in June.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21928" NEWID="17306">
<DATE>27-APR-1987 08:46:08.86</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0873&#31;reute
h f BC-EMS-INTERVENTION-SAID   04-27 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>EMS INTERVENTION SAID SOMETIMES COUNTERPRODUCTIVE</TITLE>
<DATELINE>    FRANKFURT, April 27 - </DATELINE><BODY>Attempts to hold currency rates
rigidly within tight ranges through European Monetary System
intramarginal intervention can be counterproductive, bringing
funds into the stronger currency from the weaker at rates still
considered fairly favourable, the Bundesbank said.
    "The movements thus sparked can actually promote the weaker
tendency of a currency, requiring still larger obligatory
intervention when rates hit band limits," it said in its 1986
annual report. The other danger was that money supply expansion
could be caused in the stronger currency nation without its
central bank being involved in the activity.

    "For this reason, currency levels should be allowed as much
room for manoeuvre as possible inside the band limits when a
currency is in a phase of weakness," the Bundesbank said.
    "In addition, speculative positions are made more expensive
to hold when interest differentials are increased."
    In the report, the Bundesbank gave a rare glimpse of the
extent of intramarginal and obligatory EMS intervention that
has taken place since the foundation of the eight-currency
system on March 13, 1979.

    Obligatory intervention is that required by EMS central
banks when a currency reaches its agreed limit against another
participating unit.
    Intramarginal intervention is undertaken on agreement
between central banks when speculative pressure moves a
currency in an unwanted direction, although it may not yet be
near any allowed EMS limits.
    At the start of this year, central banks were very actively
selling marks and supporting weaker currencies, primarily the
French franc, as speculative EMS pressure grew.

    But the announcement by the Bank of France that it was
ceasing intramarginal intervention sent the franc straight to
its then-permitted floor of 31.8850 marks per 100.
    Data in the Bundesbank report showed the EMS central banks
bought a net total 29.9 billion marks after the April 6, 1986
realignment until the selling petered out on July 7.
    But this was far outweighed by net purchases between July
8, 1986, and the realignment on January 12 this year totalling
63.0 billion marks - 44.1 billion of which was intramarginal
and 18.9 billion was obligatory intervention.

    The data showed that 17.4 billion marks of the total
eventually filtered into the West German monetary system.
    Since the latest realignment, central banks have bought
16.1 billion marks in intramarginal intervention, the
Bundesbank said, without naming the banks involved.
    Only very high activity after the March 21, 1983
realignment came close to matching moves up to last January.
Then, central banks bought a massive 61.6 billion marks in the
period up to July 1985, mainly to stabilise the EMS as the
dollar surged.
    This then turned into mark sales of a net 34.0 billion from
July 11, 1985 in the run-up to the April 1986 realignment.

 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21929" NEWID="17307">
<DATE>27-APR-1987 08:47:37.96</DATE>
<TOPICS><D>trade</D><D>money-fx</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>tamura</D><D>de-clercq</D><D>yeutter</D></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A F
&#22;&#22;&#1;f0882&#31;reute
d f BC-TRADE-MINISTERS-SAY-G   04-27 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>TRADE MINISTERS SAY GOVERNMENTS NEED CREDIBILITY</TITLE>
<AUTHOR>    By Eric Hall, Reuters</AUTHOR>
<DATELINE>    KASHIKOJIMA, Japan, April 27 - </DATELINE><BODY>Four trade ministers ended a
weekend meeting with a frank confession that their governments
are losing credibility in world financial markets and will not
regain it until they back their promises over trade and
currencies with action.
    "Until today we have anounced policies, but when it came to
action required it was done in a way that satisfied nobody,"
Japanese Trade Minister Hajime Tamura told a news conference.
    "From now on, if a government comes up with a certain
policy, it must be followed by action," he said following two
days of informal talks with the trade ministers of the United
States, the European Community and Canada in central Japan.
    Last week, the dollar fell to a new record low below 140
yen, despite statements from the Group of Seven (G-7) leading
industrial powers that currencies should be stabilised to
underpin world trade.
    "We need credibility to gain confidence. When we have
confidence, then we can have an impact," said Tamura.
    His colleagues agreed that when major trade nations fought
over trade issues while calling for each other to honour free
trade rules in general, it was not a sight which inspired
confidence in the markets.
    "The time has come now to act in step with the talk. If you
belong to a club, you have to act in concord with the rules, if
you want to be credible," said EC external trade chief Willy de
Clercq.
    Pat Carney of Canada said "We are meeting in a time of great
trade tension. What the world needs to see is that we have the
political will to deal with these problems we face."
    She said that next month's meeting of the Organisation of
Economic Cooperation and Development and the meeting of leaders
of the G-7 nations in Venice in the summer would be a forum to
show this will existed.
    U.S. Trade Representative Clayton Yeutter reminded the news
conference that the results of such high level meetings could
lead to action which would only have an effect on smoothing out
world trade imbalances perhaps years later.
    "The media typically has a tendency to evaluate meetings
like this in terms of tangible results. That is not the way it
should be pursued," he said.
    "What is achieved in an intangible way almost always exceeds
what is achieved in a tangible way," he said.
    Progress in personal contacts and understanding each
others' positions and policies was just as important toward
reducing trade tensions, he said.
    Tamura read out an agreed summary of the joint talks:
    Currency stability was now essential, but currency
movements alone would not correct a U.S. trade deficit with
Japan which hit 58 billion dlrs last year, an 18 billion dlr EC
deficit with Japan in 1986, and a Japanese global trade surplus
of almost 90 billion, he said.
    Trade retaliation, protectionism, and forcible export
restraints which lead to a shrinkage in world trade flows were
most dangerous, he said.
    The imbalances can only be solved by coordinated policies
over a whole range of fiscal, monetary, trade and industrial
measures, and in line with a body of internationally agreed
rules, he said.
    In this regard, the policing role of the Geneva-based
General Agreement on Tariffs and Trade world trade body must be
strengthened, he said.
    The ministers reconfirmed their individual promises to
solve the problem. The United States will try to reduce its
large budget deficit and restore competitiveness within its
industries.
    Japan will introduce early and effective measures to expand
its domestic growth and rely less on exports.
    The EC must continue efforts for balanced growth and
reduced unemployment. All felt satisfied at the new progress in
the Canadian economy.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21930" NEWID="17308">
<DATE>27-APR-1987 08:50:10.56</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0896&#31;reute
u f BC-DUTCH-CENTRAL-BANK-IN   04-27 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>DUTCH CENTRAL BANK INTERVENES TO SUPPORT DOLLAR</TITLE>
<DATELINE>    AMSTERDAM, April 27 - </DATELINE><BODY>The Dutch Central Bank intervened
modestly to support the dollar with spot market transactions,
dealers said.
    They said the bank bought dollars against guilders as the
U.S. Currency dipped to a low of 2.0013 guilders from 2.0130-40
on opening, the lowest since the end of January.
    There was no intervention at the fix, however, which put
the dollar at 2.0045 guilders after 2.0280 last Friday, and
dealers said the Bank's buying was limited.
    "I'd be surprised if the Bank had bought as much as 100 mln
dlrs," one dealer said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21931" NEWID="17309">
<DATE>27-APR-1987 08:53:01.80</DATE>
<TOPICS></TOPICS>
<PLACES><D>philippines</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0906&#31;reute
u f AM-PHILIPPINES-BLAST ***URGENT  04-27 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>BLAST ROCKS U.S. MILITARY BUILDING IN MANILA</TITLE>
<DATELINE>    MANILA, April 27 - </DATELINE><BODY>An explosion rocked a building at the
U.S. military office in Manila but there were no immediate
reports of casualties, a police spokesman said tonight.
    He said investigators were still looking into the explosion
inside the motor pool building of the Joint United States
Military Assistance Group (JUSMAG) in a Manila suburb.
    Home-made bombs were thrown into the JUSMAG compound last
July causing minor damage.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21932" NEWID="17310">
<DATE>27-APR-1987 08:53:52.96</DATE>
<TOPICS></TOPICS>
<PLACES><D>bahrain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0907&#31;reute
u f BC-INVESTCORP-SIGNS-FOR   04-27 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>INVESTCORP SIGNS FOR 75 MLN DLR CREDIT FACILITY</TITLE>
<DATELINE>    BAHRAIN, April 27 - </DATELINE><BODY>&lt;Arabian Investment Banking Corp EC>
(Investcorp) signed for a 75 mln dlr revolving credit facility,
one of the lead managers &lt;Arab Banking Corp>, ABC, said.
    The facility was first mandated for 50 mln dlrs but was
increased before syndication to 60 mln when a lead group of six
banks was formed. Strong demand during syndication led to
another increase in the final amount to 75 mln dlrs.
    ABC said the facility, with a final lending syndicate of 32
banks from 13 countries, is part of Investcorp's strategy to
develop and diversify its source of funds and reduce its
borrowing costs.
    ABC as overall arranger said the facility will be used to
finance Bahrain-based Investcorp's general corporate funding
requirements. It can be exercised in three different ways.
    These are through the issue of euronotes or advances by
tender, the extension of committed advances by underwriting
banks, or the issue of contingent obligations from a panel of
selected banks.
    The facility has a maturity of three years, with interest
on committed advances based on utilisation from 17.5 basis
points over London Interbank Offered Rates for one third to 20
basis points for two thirds and 22.5 for an amount above that
level.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21933" NEWID="17311">
<DATE>27-APR-1987 08:54:37.14</DATE>
<TOPICS><D>tin</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>itc</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f0912&#31;reute
b f BC-TIN-PACT-EXTENDED-FOR   04-27 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>TIN PACT EXTENDED FOR TWO YEARS</TITLE>
<DATELINE>    LONDON, April 27 - </DATELINE><BODY>The Sixth International Tin Agreement,
ITA, has been extended for two years from July 1, 1987, the
International Tin Council, ITC, said.
    The extension was formally agreed at a resumed special
session of the council held here this morning and follows a
session early this month when the council agreed in principle
to extend the pact but had to await the formal approval of some
member governments.
    The extension will enable the council to continue with its
statistical work and studies of the tin industry.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21934" NEWID="17312">
<DATE>27-APR-1987 09:06:52.84</DATE>
<TOPICS><D>trade</D><D>alum</D><D>zinc</D><D>pet-chem</D><D>iron-steel</D><D>grain</D><D>wheat</D><D>corn</D><D>cotton</D><D>oilseed</D><D>soybean</D></TOPICS>
<PLACES><D>south-korea</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G M
&#22;&#22;&#1;f0937&#31;reute
u f BC-SEOUL-UNVEILS-SHOPPIN   04-27 0132</UNKNOWN>
<TEXT>&#2;
<TITLE>SEOUL UNVEILS SHOPPING LIST OF U.S. GOODS</TITLE>
<DATELINE>    SEOUL, April 27 - </DATELINE><BODY>South Korea unveiled a shopping list of
2.6 billion dlrs of U.S. Goods in line with its new policy of
seeking to limiting its trade surplus to ease trade friction
with Washington.
    The government said this would help freeze this year's
trade surplus with the United States at the 1986 level.
    "The surplus, which rose to 7.4 billion dollars last year
from 4.3 billion in 1985, was projected to top 10 billion this
year but the government has taken steps to constrain it to the
seven billion dollar level," one Trade Ministry official told
Reuters.
    A government statement said the 2.6 billion dlrs was in
addition to about two billion dlrs of purchases made last month
by a South Korean trade mission to the United States.
    The announcement follows a visit here this week by U.S.
Commerce Secretary Malcolm Baldrige, who said that if South
Korea wanted to avoid protectionist retaliation it should not
falter in its policies to open its market and cut its surplus.
    The statement said the government, state agencies and other
public institutions would buy 480 mln dlrs worth of U.S. Cars,
computers, helicopters, ambulances, motorcycles, medical and
laboratory equipment and other products. "This amounts includes
89 mln dlrs worth of purchases which were not originally
reflected in their budgets," it added.
    The list includes 1.13 billion dlrs of capital goods, 700
mln of farm products, 50 mln of aluminium, zinc, polyethylene
and other raw materials, and 250 mln of steel, electronics and
shipbuilding parts which would be shifted from other nations.
    Agriculture Ministry officials said South Korea had already
bought 310 mln dlrs worth of U.S. Wheat, raw cotton, corn and
soybeans.
    This meant the country would buy from the United States
nearly all of the 1.27 billion dlrs of its planned imports of
such commodities this year, they said.
    The government will also take steps to reduce tariffs,
accelerate the opening of its markets, voluntarily restrain
exports and cut export financing, the statement said.
    South Korea will also reorganise the country's 3,600 trade
agents to deliver better after-sales services for imported
products and hold a trade show in November for U.S. Products.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21935" NEWID="17313">
<DATE>27-APR-1987 09:09:20.32</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE><D>stoltenberg</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0951&#31;reute
r f BC-STOLTENBERG-REAFFIRMS   04-27 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>STOLTENBERG REAFFIRMS COMMITMENT TO LOUVRE ACCORD</TITLE>
<DATELINE>    BONN, April 27 - </DATELINE><BODY>Finance Minister Gerhard Stoltenberg
reaffirmed his commitment to the Louvre accord struck in Paris
where leading industrialised countries agreed to stabilise the
dollar around then current levels.
    He told a congress of West German tax advisers in Hamburg
the policy agreed in Paris has so far been successful in the
mark/dollar relationship.
    "We want to continue it (the policy)," Stoltenberg said.
According to a text of his remarks released in Bonn, he also
said trade tensions in specific branches had to be overcome and
he warned against any return to protectionism.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21936" NEWID="17314">
<DATE>27-APR-1987 09:09:40.27</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>italy</D><D>france</D><D>sweden</D></PLACES>
<PEOPLE><D>balladur</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0954&#31;reute
d f BC-BALLADUR-DEFENDS-CGCT   04-27 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>BALLADUR DEFENDS CGCT DECISION ON ERICSSON</TITLE>
<DATELINE>    MILAN, April 27 - </DATELINE><BODY>French Finance Minister Edouard Balladur
said the government awarded control of &lt;Compagnie Generale de
Constructions Telephonques> (CGCT) to a consortium headed by
Sweden's AB LM Ericsson &lt;ERIC.ST> last week because its
proposal was "judged technically sound and valid."
    Balladur, responding to a question following a speech
before the Milan Chamber of Commerce, said the successful bid
by Ericsson and French partners Matra &lt;MATR.PA> and &lt;Banque
Indosuez> was "well organised and equipment will be readily
available." He did not comment further.
    CGCT has 16 pct of France's telephone switching market.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21937" NEWID="17315">
<DATE>27-APR-1987 09:22:45.97</DATE>
<TOPICS><D>iron-steel</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f0994&#31;reute
r f BC-stelco,-uswa-reach   04-27 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>STELCO &lt;STEA.TO>, USWA REACH CONTRACT SETTLEMENT</TITLE>
<DATELINE>    TORONTO, April 27 - </DATELINE><BODY>Stelco Inc said contract negotiations
with United Steelworkers of America concluded in a memorandum
of settlement for a new three-year collective agreement
covering about 12,000 workers at 15 of Stelco's plants.
    Further terms of the new agreement were not immediately
disclosed.
    The company said early negotiations began March 2, 1987 in
order to reach a new contract well before the July 31, 1987
expiry of the existing contract.
    It said the new contract was endorsed by negotiating
committees of all union locals representing Stelco workers.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21938" NEWID="17316">
<DATE>27-APR-1987 09:32:02.19</DATE>
<TOPICS><D>reserves</D></TOPICS>
<PLACES><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1021&#31;reute
r f BC-TAIWAN-CRITICISED-FOR   04-27 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN CRITICISED FOR AMOUNT OF DOLLAR HOLDINGS</TITLE>
<DATELINE>    TAIPEI, April 27 - </DATELINE><BODY>About 20 members of the Taiwan
parliament criticised the government for holding too much of
foreign exchange reserves in U.S. Dollars and asked the cabinet
to diversify these holdings into other major currencies.
    A parliament statement said the criticism came from 18
Kuomintang (nationalist) legislators and several opposition
members, who asked the government to diversify reserves into
mark, yen, Swiss franc, other currencies or gold.
    It said that from September 1985 to September 1986 the
central bank's exchange rate loss was about 144 billion Taiwan
dlrs.
    Fourteen local banks lost 12.6 billion Taiwan dlrs during
the period, it said.
    In the same time span the Taiwan dollar rose to 36.77 to
the U.S. Currency from 40.45. It closed at 33.17 today.
    The statement said the central bank's loss this year would
more than double because of the rising Taiwan dollar and
reserves, which had reached 54 billion U.S. Dlrs last week.
    Government legislators said they expected the reserves to
increase to more than 60 billion U.S. Dlrs this year and the
trade surplus to increase by about 15 billion U.S. Dlrs,
compared with 15.6 billion last year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21939" NEWID="17317">
<DATE>27-APR-1987 09:34:23.40</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1031&#31;reute
d f BC-HUNTINGDON-&lt;HRCLY.O>   04-27 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>HUNTINGDON &lt;HRCLY.O> IN ACQUISITION TALKS</TITLE>
<DATELINE>    NEW YORK, April 27 - </DATELINE><BODY>Huntingdon International Holdings plc
said it has entered into discussions with a view to acquiring
Northern Engineering and Testing Inc, a company based mainly in
the northwestern United States.
    The company said Northern Engineering had sales of
approximately 6.5 mln dlrs in the year ended March 31.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21940" NEWID="17318">
<DATE>27-APR-1987 09:44:52.36</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1068&#31;reute
h f BC-TOWNSEND-FERRY-INQUIR   04-27 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>TOWNSEND FERRY INQUIRY TOLD BOW DOORS TO BLAME</TITLE>
<DATELINE>    LONDON, April 27 - </DATELINE><BODY>The Zeebrugge ferry disaster, in which
around 200 people drowned seven weeks ago, was almost certainly
caused by the ship leaving port with its bow doors wide open, a
British government inquiry was told.
    Lawyer David Steel, representing the government, told the
opening session of a public inquiry into the March 6 tragedy
that this was "the only tenable explanation."
    The ferry, the Herald of Free Enterprise, is owned by
Townsend Thoresen, part of P and O's &lt;PORL.L> subsidiary
European Ferries Group.
    Steel, commissioner of wrecks for England and Wales, said
the inquiry would probably conclude that the ferry capsized in
calm seas and fair weather a mile outside the Belgian port when
water poured into the car deck.
    "We think you will also conclude that the immediate cause of
that was that the doors were open, he said.
    Steel told the tribunal it appeared no attempt was made to
close either the inner or outer bow doors prior to what should
have been a routine voyage to the English port of Dover,
despite a provision in the ship's "Stability Booklet" that the
doors were to be closed and kept closed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21941" NEWID="17319">
<DATE>27-APR-1987 09:47:10.87</DATE>
<TOPICS><D>hog</D><D>livestock</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C L
&#22;&#22;&#1;f1076&#31;reute
u f BC-slaughter-guesstimate   04-27 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>HOG AND CATTLE SLAUGHTER GUESSTIMATES</TITLE>
<DATELINE>    CHICAGO, April 27 - </DATELINE><BODY>Chicago Mercantile Exchange floor
traders and commission house representatives are guesstimating
today's hog slaughter at about 275,000 to 285,000 head versus
157,000 week ago and 305,000 a year ago.
    Cattle slaughter is guesstimated at about 120,000 to
126,000 head versus 109,000 week ago and 133,000 a year ago.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21942" NEWID="17320">
<DATE>27-APR-1987 09:50:27.58</DATE>
<TOPICS><D>dlr</D><D>money-fx</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1082&#31;reute
b f BC-/WHITE-HOUSE-DECLINES   04-27 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>WHITE HOUSE DECLINES COMMENT ON DOLLAR'S SLIDE</TITLE>
<DATELINE>    WASHINGTON, April 27 - </DATELINE><BODY>White House spokesman Marlin
Fitzwater declined to comment on the continuing slide of the
dollar against the Japanese yen, but said Treasury Secretary
James Baker was watching developments.
    "Jim Baker is monitoring that at the Treasury Department,
but at this point we don't have any comment to make on the
dollar," Fitzwater told reporters.
    He was asked at a briefing whether the White House was
concerned about the continuing decline in the dollar's value.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21943" NEWID="17321">
<DATE>27-APR-1987 09:52:08.27</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1086&#31;reute
b f BC--debt   04-27 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>TREASURY'S BAKER ASKS FAST ACTION ON DEBT BILL</TITLE>
<DATELINE>   WASHINGTON, April 27 - </DATELINE><BODY>Treasury Secretary James Baker is
urging Congress to pass legislation promptly to raise the
ceiling on U.S. debt the United States can borrow, Senate
majority leader Robert Byrd said.
    Byrd told reporters Baker visited him late Friday to urge
Congress not to add time-delaying amendments to the debt
ceiling bill that Congress must pass before May 15. Byrd, a
Democrat, said he agrees but said others may want amendments.
    The current ceiling of 2.3 trillion (2,300 billion) dlrs
drops on May 15 to 2.1 trillion dlrs, a level considered too
low for U.S. borrowing.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21944" NEWID="17322">
<DATE>27-APR-1987 09:59:44.27</DATE>
<TOPICS><D>money-fx</D><D>trade</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f1102&#31;reute
r f BC-BANKER-SEES-CURRENCY   04-27 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>BANKER SEES CURRENCY FALLING TO BALANCE TRADE</TITLE>
<DATELINE>    BOCA RATON, Fla., April 27 - </DATELINE><BODY>A leading regional banker said
that it was axiomatic that despite market intervention, a
country's currency will eventually fall to an exchange rate
which balances its international trade and payments accounts.
    John Medlin, president and chief executive officer for the
First Wachovia Corp, said that "substantial and rapid currency
devaluations usually are followed in time by surging price
inflation, spiralling interest rates and painful economic
austerity."
    Speaking to a banking trade group, he also said the peak of
debt writeoff has not yet been reached.
    Medlin told the Bankers Association for Foreign Trade that
ultimately "our nation's budget and trade deficits will be
balanced either through voluntary restraints in spending and
consumption or through forced austerity imposed by a
dispassionate and unmerciful international market place."
    He said the continuing weakness of the dollar and the
recent increase in inflation and interest rates "provide early
warning that the classic laws of international economics still
are in effect."
    He also told the association that trying to reduce the
trade deficit by erecting protectionist barriers to imports
would not give lasting relief.
    "However, the imposition and enforcement of fair trade
rules could help improve imbalances with nations which practice
protectionism and deception on us."
    Medlin noted that the U.S. economy was likely to continue
"at best being a sluggish mixture of depressed segments and
growth areas."
    But he said that the business cycle was still alive and
that the next downturn "could be deeper and harder to reverse
than the last one."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21945" NEWID="17323">
<DATE>27-APR-1987 10:07:30.73</DATE>
<TOPICS><D>grain</D><D>acq</D></TOPICS>
<PLACES><D>west-germany</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1131&#31;reute
d f BC-CONAGRA-TAKES-OVER-WE   04-27 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>CONAGRA TAKES OVER WEST GERMAN TRADE HOUSE</TITLE>
<DATELINE>    BREMEN, April 27 - </DATELINE><BODY>One of West Germany's major feedstuff
and grain traders, Kurt A. Becher GmbH and Co KG, said ConAgra
Inc of the U.S. Was taking it over, effective June 1.
    Becher said ConAgra, which already owns 50 pct of the trade
house, would take over the remaining 50 pct from the Becher
family. Further details were not immediately available.
    ConAgra, based in Omaha, Nebraska, is a foodstuff company
and has access to world markets through its agricultural trade
subsidiary, ConAgra International.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21946" NEWID="17324">
<DATE>27-APR-1987 10:15:31.74</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f1161&#31;reute
u f BC-northern-telecom   04-27 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>NORTHERN TELECOM &lt;NT> U.S. UNIT SETS NEW GROUP</TITLE>
<DATELINE>    TORONTO, April 27 - </DATELINE><BODY>Northern Telecom Ltd's U.S. unit will
announce a reorganization today to form a new division focusing
on sales and servicing of data communications equipment,
spokesman Richard Lowe said.
    The new division, called data communications and networks,
will be formed effective May 1 and will market, sell and
service data communications equipment, Lowe said from Northern
Telecom Inc's Nashville, Tenn. headquarters.
    The group will include the company's sales to the U.S.
federal government and U.S. military, he said.
    The U.S. unit's new division will also concentrate on sales
to large end user customers who have a variety of equipment
combined in one network, as well as data packet switching
business for either public or private networks, Northern
Telecom spokesman Lowe said.
    Lowe said the company anticipates revenues from the new
operating group will be about 350 mln dlrs in 1987, increasing
to about one billion dlrs in five years.
    "Raising this to a group level within the company
demonstrates the importance we see in this marketplace and the
rapid growth that could occur there," Lowe said.
    Lowe said the business of the new group was previously part
of Northern Telecom Inc's Dallas-based private branch exchange
division.
    Northern Telecom Inc accounted for about 65 pct of parent
company Northern Telecom Ltd's 1986 revenues of 4.38 billion
dlrs.
    Northern Telecom, North America's second largest
telecommunications equipment designer and manufacturer, is 52
pct owned by Bell Canada Enterprises Inc &lt;BCE>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21947" NEWID="17325">
<DATE>27-APR-1987 10:18:34.80</DATE>
<TOPICS><D>dlr</D><D>money-fx</D><D>interest</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1175&#31;reute
b f BC-/PRESSURE-GROWS-FOR-U   04-27 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>PRESSURE GROWS FOR U.S. ACTION TO AID DOLLAR</TITLE>
<AUTHOR>    by Jeremy Solomons, Reuters</AUTHOR>
<DATELINE>    NEW YORK, April 27 - </DATELINE><BODY>Pressure is growing in the financial
markets for the U.S. to take overt action to stabilize the
dollar even though doubts linger that it has fallen far enough
to help redress world trade imbalances, economists and dealers
said.
    Some experts believe that a half-point increase in the U.S.
discount rate, preferably in conjunction with rate cuts in
Tokyo and Bonn, would be enough to discourage sellers.
    But many fear that more drastic action, such as a U.S.
issue of yen-denominated Treasury bonds, may be needed.
    Despite official warnings about the dangers of a further
dollar decline and concerted central bank intervention, the
dollar extended its recent sharp depreciation, touching a
40-year low of 137.25 yen in Tokyo earlier today after closing
here on Friday at 139.30/40.
    The impact on other financial markets was devastating.
    In Tokyo, the stock market suffered its largest single day
decline; in London, gold bullion prices rose to four-year highs
and in the U.S., long Treasury bond yields surged above 8.80
pct and the Dow Jones Industrial Average fell more than 40
points in hectic early trading.
    "The problem now is linkage. This is not just a currency
problem. It is affecting all the markets," said one senior
trader at a major U.S. bank.
    Up until September of last year, international efforts to
redress world trade imbalances appeared to working like a
dream; the dollar was falling in an orderly manner, world
interest rates were tumbling and inflation was kept in check.
    In recent months, however, this strategy has begun to show
signs of severe stress, with the U.S. imposition of punitive
tariffs on Japan threatening to unravel this spirit of
cooperating and condemn the world to a damaging trade war.
    "The markets fear that we have built up a momentum that is
really difficult to stop. A U.S. rate hike has become an
inevitability," one currency dealer said.
    "At this point, nothing short of a Fed discount rate
increase, ideally combined with further discount rate cuts by
Japan and Germany, would seem capable of stabilizing the
dollar," said David Jones of Aubrey G. Lanston and Co Inc.
    Allen Sinai of Shearson Lehman Brothers Inc predicted a 1/4
to 1/2 point U.S. rate increase before May 19 and a rise in
U.S. bank prime lending rates to eight pct from 7-3/4 pct in
the near future.
    But many economists feared that any moderate U.S. rate
increases, which appear unlikely to be matched by rate cuts
overseas, would be too little, too late.
    "They should have done this 10 days ago. It would have done
the trick then," said one currency analyst.
    "If they do it now, it would be seen as a defensive measure
not an offensive one. It would show policy weakness not
strength," added one trader.
    In addition, economists fear that a discount rate rise
might place additional strain on a sluggish U.S. economy and
tempt embattled debtor nations to retaliate.
    A U.S. discount rate increase would also fuel the
protectionist fires in Washington, where the House is expected
to pass a protectionist trade bill, whatever compromises
President Reagan and Prime Minister Nakasone can come up with
during their summit later in the week.
    "Politically, they can't really do it this week," said one
currency analyst, pointing out that if it failed to stabilize
the dollar, it would only weaken the U.S. negotiating stance.
    Even if the U.S. retains the upper hand, economists and
traders do not hold out high hopes for any major new
initiatives from this week's talks.
    At best, the experts see some sort of accord whereby Japan
will agree to stimulate growth and open its domestic markets to
outsiders while the U.S. promises to lift its tariffs and
support the Group of Seven dollar stabilization agreement.
    But many fear that this may not be enough to assuage the
market's speculative selling fervor, which has now raised fears
of weak overseas interest at next week's quarterly U.S.
Treasury refunding program.
    Japanese and European investors have traditionally played
an active role in these auctions, which are expected to total
28 to 29 billion dlrs.
    Consequently, thoughts are turning to the possibility that
President Reagan may try to remove foreign investors' worries
about currency risk by financing part of the U.S. budget
deficit in yen or mark bonds, rather than dollars.
    While similar action by former President Carter helped to
stabilize the dollar in 1978, the White House is clearly
reluctant to take such a step, economists said.
    This hesitance was amply shown last Friday when U.S.
Treasury Secretary James Baker said, "there might well be some
who would view (yen-denominated bonds) as a lack of confidence
by the U.S. in its own currency."
    Baker added, "therefore we don't think it's an appropriate
thing to do."
    A foreign exchange analyst at a major Japanese bank here
shared Baker's doubts. "Dollar defending measures are very
unlikely. They will confirm the dollar's weak undertone and
lead to further speculative dollar selling," he said.
    Thus, it may be less destabilizing for the authorities to
stop trying to fight the market's bearish sentiment.
    In a recent lengthy report, economists at Morgan Guaranty
Trust Co concluded, "the dollar should be left free to trade at
whatever level market forces produce."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21948" NEWID="17326">
<DATE>27-APR-1987 10:20:08.53</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1185&#31;reute
r f BC-ITT-CORP-&lt;ITT>-CONFID   04-27 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>ITT CORP &lt;ITT> CONFIDENT ABOUT FISCAL 1987</TITLE>
<DATELINE>    NEW YORK, April 27 - </DATELINE><BODY>ITT Corp said first quarter results,
reported earlier, were substantially ahead of budget and added
it is confident of a continued improvement by all divisions in
the remainder of the year.
    The company said the natural resources division more than
doubled its contribution from the year ago quarter while the
diversified services business reported strong operating results
due to continued improvement in the domestic casualty business
at The Hartford.
    It said the operationg performance of the industrial and
defense technology business was above expectations but below
the year ago result.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21949" NEWID="17327">
<DATE>27-APR-1987 10:22:14.05</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f1198&#31;reute
u f BC-DU-PONT-&lt;DD>-NET-DOWN   04-27 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>DU PONT &lt;DD> NET DOWN ON OIL EARNINGS DECLINE</TITLE>
<DATELINE>    WILMAINGTON, Del., April 27 - </DATELINE><BODY>Du Pont Co, reporting lower
first quarter profits, said a drop in energy earnings was only
partially offset by surging chemical and specialty products.
    Du Pont earned 391 mln dlrs, or 1.62 dlrs a share, in the
latest quarter, down from 404 mln, or 1.67 dlrs a share, in
1986's initial quarter.
    It had sales of 7.13 billion dlrs, down from 7.17 billion
last year and total revenues of 7.20 billion dlrs down from
7.29 billion dlrs.
    Du Pont said after-tax operating income for its chemical
and specialty products businesses totaled 393 mln dlrs in the
latest quarter, rising 55 pct from last year's first quarter
due to improved results from most businesses, notably fibers,
white pigments and specialty polymers.
    Results benefited from improved worldwide demand and lower
costs attributable to lower energy feedstock prices, earlier
restructurings, and efforts to improve productivity.
    It said sales of these businesses were up eight pct to 4.2
billion dlrs on a sales volume increase of five pct and three
pct higher average prices, reflecting a weaker dollar.
    Du Pont said after-tax operating income from the petroleum
segments dropped 64 pct from a year ago to 55 mln dlrs in the
latest quarter.
    These results reflect lower refined petroleum product
margins and lower worldwide crude oil and domestic natural gas
prices. Coal earnings were down 27 pct on lower prices.
    The company said it anticipates continued strong results
from chemicals and specialty products as worldwide demand
remains high. Improvement in petroleum will require flat or
improved crude oil prices and improved refined product margins.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21950" NEWID="17328">
<DATE>27-APR-1987 10:28:14.37</DATE>
<TOPICS><D>jobs</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1216&#31;reute
b f BC-FRENCH-MARCH-UNEMPLOY   04-27 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH MARCH UNEMPLOYMENT RISES TO RECORD 11.1 PCT</TITLE>
<DATELINE>    PARIS, April 27 - </DATELINE><BODY>France's seasonally adjusted unemployment
rate rose to a record 11.1 pct of the workforce at end-March
compared with 11 pct at end-February, the National Statistics
Institute (INSEE) said.
    The total number of unemployed edged up to 2.67 mln at
end-March from 2.65 mln at end-February, an INSEE spokeswoman
said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21951" NEWID="17329">
<DATE>27-APR-1987 10:35:02.45</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y F
&#22;&#22;&#1;f1245&#31;reute
b f BC-/EXXON-&lt;XON>-SEES-DRO   04-27 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>EXXON &lt;XON> SEES DROP IN NEW OIL DISCOVERIES</TITLE>
<DATELINE>    HOUSTON, April 27 - </DATELINE><BODY>Exxon Corp chairman Lawrence Rawl said
total world energy consumption will continue to grow, but added
new oil discoveries worldwide are slowing down and can not
offset annual production.
    In a speech at the World Petroleum Congress here, Rawl said
oil companies would increasingly be forced to turn to enhanced
recovery techniques, very heavy oil and synthetics to
compensate for substantial declines in conventional oil
production.
    "What our current outlook suggests is that total world
energy consumption will continue to grow steadily in an ever
more energy efficient world," Rawl said. But, he added, Exxon
projects that "despite today's ample supplies, the world will
also be facing up to inherent limitations on the availability
of oil and gas, which currently supplies more than half of the
world's energy needs."
    The Exxon chairman told some 1,500 oil executives from
around the world that some synthetics projects could become
practical when oil reaches 30 dlrs to 40 dlrs a barrel range in
real terms.
    "The question is when and how this will happen," he said.
"I believe that synthetic projects will not only re-emerge but
will become commercial well below those we were thinking about
the last time oil prices moved substantially higher."
    Rawl said synthetic fuel would become economic at lower
prices because companies are investigating "a new generation of
ideas that promise substantially lower costs" and projects
begun in the late 1970s, which have since been suspended.
    Rawl also said companies must find new and more effective
ways of enhanced recovery from existing oil fields.
    "It would be my view that new oil discoveries, even with
advanced technology, are likely to slow down - not reverse -
the decline in worldwide oil discoveries," he said. "So it is
essential to find a better way to recover more of the
discovered oil from producing fields using chemicals, solvents,
heat, and other techniques."
    Rawl emphasized that private oil companies need some
assistance from government in developing synfuels technology.
"More importantly, they need to provide a political and
economic environment that is stable enough to allow the
developmental process to function effectively, he said.
    Rawl also said stable energy markets serve the best
interest of producing and consuming nations by allowing both
groups to plan for steady economic growth.
    He did not make any oil price prediction, saying only that
the economic goals of the U.S. and other nations can only be
achieved if world oil prices "stabilize within a reasonable
range."
    "Prices must be high enough to meet realistic aspirations
for income and encourage resource development in the producing
countries, but not so high as to inhibit economic growth in
consuming nations," he said.
    The Exxon chairman also criticized "the occasional attempt
of consuming nations to try to control domestic oil prices,
calling such protectionist measures disruptive to the world oil
market.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21952" NEWID="17330">
<DATE>27-APR-1987 10:36:12.75</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>france</D><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1255&#31;reute
b f BC-FRENCH-PRODUCERS-WITH   04-27 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH PRODUCERS WITHDRAW SUGAR FROM INTERVENTION</TITLE>
<DATELINE>    BRUSSELS, April 27 - </DATELINE><BODY>French producers have withdrawn all
offers to sell more than 700,000 tonnes of sugar into European
Community intervention stocks, EC Commission sources said.
    They also said West German producers had now withdrawn the
last 3,000 of the 79,250 tonnes they sold into EC stores on
April 1.
    The sales were made to protest against the level of export
restitutions being granted for sugar at weekly EC tenders.
    Last Friday, commission sources said the West German
producers had withdrawn all but 3,000 tonnes of their sales.
    The protest by European producers involved sales of 854,000
tonnes of sugar into intervention, of which 785,000 tonnes were
accepted by the commission.
    Under EC regulations, operators had five weeks before
receiving payment to withdraw the sugar.
    Their decision to withdraw the sugar follows what
commission sources have said is a slight shift in the
authority's stance in recent weeks. The commission last week
increased the maximum restitutions to within about 0.5 Ecus per
kilo of the prices which traders claim are needed to match
intervention prices.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21953" NEWID="17331">
<DATE>27-APR-1987 10:36:51.27</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1260&#31;reute
r f BC-BRUNSWICK-&lt;BC>-NET-GA   04-27 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>BRUNSWICK &lt;BC> NET GAINS DESPITE CHARGE</TITLE>
<DATELINE>    SKOKIE, April 27 - </DATELINE><BODY>Brunswick Corp said its first-quarter
sales and profits hit records despite an after-tax charge of
about 10 mln dlrs from its new boat-building units.
    The 10 mln dlrs charge, or 22 cts a share, was for
amortization of intangible assets at Bayliner and Sea Ray, two
boatmakers acquired in December, a spokesman told Reuters.
    Earlier it said net profits for the period were 34.7 mln or
78 cts a share versus 23.8 mln or 57 cts a share a year ago.
Its Mercury unit's first-quarter sales increased 26 pct and
operating earnings rose 19 pct, while its industrial products
unit operated at a slight loss, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21954" NEWID="17332">
<DATE>27-APR-1987 10:40:56.39</DATE>
<TOPICS><D>grain</D><D>corn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1281&#31;reute
u f BC-/CCC-ADJUSTS-PIK-DIFF   04-27 0132</UNKNOWN>
<TEXT>&#2;
<TITLE>CCC ADJUSTS PIK DIFFERENTIALS FOR GULF CORN</TITLE>
<DATELINE>    CHICAGO, April 27 - </DATELINE><BODY>The Commodity Credit Corporation late
Friday readjusted county price differentials for PIK corn
redemptions traded off the Louisiana Gulf, according to a CCC
spokesman at the Kansas City Agricultural Stabilization and
Conservation Service, ASCS, office.
    He said the adjusted differentials supersede the
adjustments made March 30. They represent an increase over the
original differentials but are lower than the differential
adjustments recently made.
    For differentials of five to 15 cents, CCC added one cent.
For 16-25 cents add two cents, for 26-35 cts add three cts, for
36-45 cts add four cts and for 46-55 cts add five cts.
    The recent drop in barge freight rates prompted the
adjustments, the source said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21955" NEWID="17333">
<DATE>27-APR-1987 10:41:33.85</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1287&#31;reute
r f BC-CHEVRON-SELLS-THREE-N   04-27 0118</UNKNOWN>
<TEXT>&#2;
<TITLE>CHEVRON SELLS THREE NORTH SEA INTERESTS</TITLE>
<DATELINE>    LONDON, April 27 - </DATELINE><BODY>Chevron Corp's &lt;CHV> &lt;Chevron Petroleum
(U.K.) Ltd> said it sold interests in two North Sea blocks and
part of a third block to &lt;Midland and Scottish Resources Ltd>.
    The two firms said they have signed an agreement which
transfers Chevron's interests, comprising 29.41 pct in block
2/10b under licence p326, 29.41 pct in block 2/15a under
licence p327 and part of block 2/10a under licence p234.
    The part of block 2/10a which is being sold covers
Chevron's interest in the Emerald accumulation, discovered by
the company in 1978. Chevron is retaining its 25 pct interest
in the remainder of block 2/10a and in block 3/28a under
licence p234.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21956" NEWID="17334">
<DATE>27-APR-1987 10:42:25.35</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T
&#22;&#22;&#1;f1292&#31;reute
d f BC-HIGH-COURT-REFUSES-TO   04-27 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. COURT REFUSES TO DISMISS ADM-NABISCO SUIT</TITLE>
<DATELINE>    WASHINGTON, April 27 - </DATELINE><BODY>The Supreme Court refused to dismiss
a Justice Department civil suit charging Archer Daniels Midland
Co, ADM, and Nabisco Brands Inc with violating the antitrust
laws.
    The high court let stand lower court rulings that rejected
the motion by the two companies seeking dismissal of the suit.
    The suit challenged the 1982 agreement by Nabisco to lease
both of its high fructose corn syrup, HFCS, plants to ADM.
    The department said that before 1982 ADM was the second
largest U.S. producer of HFCS while Nabisco ranked third. The
deal made ADM the nation's largest producer.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21957" NEWID="17335">
<DATE>27-APR-1987 10:43:31.44</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1296&#31;reute
b f BC-/REAGAN-HOPES-TO-LIFT   04-27 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>REAGAN HOPES TO LIFT JAPAN SANCTIONS SOON</TITLE>
<DATELINE>    WASHINGTON, April 27 - </DATELINE><BODY>President Reagan said he hoped the
United States could lift trade sanctions against Japan soon.
    But he said the United States would do what is necessary to
see that other nations lived up to their trade agreements.
    In a speech prepared for delivery to the U.S. Chamber of
Commerce, he said, "I hope that, before long, we can lift these
(Japanese trade sanctions) and that this episode will be
recorded as a small incident in the building of our
relationship."
    But, Reagan added, "we will do what is necessary to see that
other nations live up to their obligations and trading
agreements with us. Trade must be free. It must also be fair."
    Reagan said the decision to impose 100 pct tariffs on 300
mln dlrs worth of electronic exports to the United States sent
a message it was time to complete a U.S.-Japan "trade bridge."
  "The final answer to the trade problems between America and
Japan is not more hemming and hawing, not more trade sanctions,
not more voluntary restraint agreements - though these may be
needed as steps along the way - and certainly not more
unfulfilled agreements," he said.
    Reagan said the answer was genuinely fair and open markets
on both sides of the Pacific - "and the sooner, the better."
    Reagan said the administration's tools for dealing with
unfair trade practices met the need for both firmness and
finesse.
    He said trade legislation pending in Congress would be
dangerous because it would force the administration to use "a
steamroller against unfair practices every time, no matter
whether the steamroller would open the trade doors or flatten
the entire house," he said.
    Reagan said that ending every unfair trade practice in
Japan would cut the U.S. trade deficit by only about 10 pct.
    "If our trade deficit is to come down, more must be done --
and is being done," he said.
    "The change in the dollar's value is part of it, and since
the middle of last year, the actual volume of our exports had
been on the rise," he said.
    He also said he believed America's trading partners should
cut taxes and regulations, as the United States had done, so
that they could create jobs and buy more goods.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21958" NEWID="17336">
<DATE>27-APR-1987 10:45:47.53</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1306&#31;reute
r f BC-NCR-&lt;NCR>-SLASHES-PRI   04-27 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>NCR &lt;NCR> SLASHES PRICES ON PERSONAL COMPUTERS</TITLE>
<DATELINE>    DAYTON, Ohio, April 27 - </DATELINE><BODY>NCR Corp said it cut prices on its
personal computers, the 80286-based PC8 and 8088-based PC6
models, by 10 pct to 21 pct effective immediately, to maintain
a competitive position on pricing.
    NCR said prices of its high-end PC8 models have been cut by
10 pct to 13 pct and by 10 pct in its PC8 model designed to
compete with 286-based XT-level PCs. It also reduced the list
price of its PC6 model configured with 256 RAM and 360 K flex
drive, along with other products in the line.
    NCR also said it reduced the price of its 64MB fixed disk
drive to 2,995 dlrs from 3,595 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21959" NEWID="17337">
<DATE>27-APR-1987 10:49:30.03</DATE>
<TOPICS><D>oilseed</D><D>soybean</D><D>strategic-metal</D></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G M
&#22;&#22;&#1;f1325&#31;reute
d f BC-SOY-PLANTS-MIGHT-BE-U   04-27 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>SOY PLANTS MIGHT BE USED TO DRAW CADMIUM FROM SOIL</TITLE>
<DATELINE>    ROTTERDAM, April 27 - </DATELINE><BODY>Effective extraction of the toxic
metal cadmium from soil may at last be feasible using soybean
plants, research in the Netherlands by a Belgian-based
environment group shows.
    Cadmium, naturally drawn up by plants and passed on to
consumers, has been shown to produce kidney damage and
resulting calcium loss as well as causing high blood pressure
and cancers, a spokesman for the Ecological Life and
Cultivation (VELT) said.
    Three years of experiments by the organization showed
soybean plants extracted up to 16 pct of soil-borne cadmium,
which went into the leaves and not into the beans themselves.
    Cadmium is present in the soil because of emissions in the
past by factories producing non-ferrous metals, the spokesman
said.
    "Although many of these factories are now using far safer
methods of manufacture, the cadmium is already in the soil and
until now there has been no way to get rid of it," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21960" NEWID="17338">
<DATE>27-APR-1987 10:56:15.68</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>hungary</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1357&#31;reute
r f BC-EC-TO-BEGIN-TALKS-ON   04-27 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>EC TO BEGIN TALKS ON ECONOMIC PACT WITH HUNGARY</TITLE>
<DATELINE>    LUXEMBOURG, April 27 - </DATELINE><BODY>European Community foreign ministers
agreed to formal talks on signing an economic pact with
Hungary, in a move which could clear the way towards
establishing EC diplomatic ties with Budapest, EC officials
said.
    They said Community foreign ministers agreed to mandate the
EC executive Commission to open talks on a cooperation pact
which would boost trade and economic ties with Hungary.
    Earlier this year, Hungarian Deputy Prime Minister Jozsef
Marjai said Hungary might be willing to normalise relations
with the Community in exchange for such a deal, according to EC
officials. No date has been fixed for opening the talks.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21961" NEWID="17339">
<DATE>27-APR-1987 10:59:16.05</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1370&#31;reute
r f BC-CRANE-&lt;CR>-SHAREHOLDE   04-27 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>CRANE &lt;CR> SHAREHOLDERS APPROVE 3-FOR-2 SPLIT</TITLE>
<DATELINE>    NEW YORK, April 27 - </DATELINE><BODY>Crane Co said shareholders at its
annual meeting approved a three-for-two stock split of its
common to shareholders of record May seven. Crane said the
additional shares will be issued on or about May 21.
    It said the number of common shares outstanding will
increase to 23.7 mln from 15.8 mln.
    Crane also said shareholder's approved an increase in the
company's common to 80 mln from 40 mln and authorized five mln
shares of preferred stock with a par value of one ct.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21962" NEWID="17340">
<DATE>27-APR-1987 10:59:47.11</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f1371&#31;reute
r f BC-NATL-BUSINESS-&lt;NBSIF>   04-27 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>NATL BUSINESS &lt;NBSIF> SUBSIDIARY IN BUYOUT</TITLE>
<DATELINE>    TORONTO, April 27 - </DATELINE><BODY>National Business Systems Inc said its
Transact Data Services Inc subsidiary agreed to acquire Access
ATM Network Inc &lt;ATM.TO>'s 1.6 mln outstanding shares for 1.6
mln dlrs cash.
    The company said the deal was conditional on Access
completing the previously announced sale of its automated
teller machine assets to unidentified buyers and approval by
Access shareholders. Closing is expected in May, it said.
    National Business said Transact Data planned to amalgamate
Access's software and switching capability operations.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21963" NEWID="17341">
<DATE>27-APR-1987 11:01:32.42</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>uk</D><D>peru</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1379&#31;reute
b f BC-PERU-FAILS-TO-BUY-SUG   04-27 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>PERU FAILS TO BUY SUGAR AT WEEKEND TENDER</TITLE>
<DATELINE>    LONDON, April 27 - </DATELINE><BODY>Peru failed to conclude any purchases at
its weekend buying tender for two cargoes June shipment white
sugar owing to the sharp price rise that day, traders said.
    However, the country had bought whites last week at 202.90
dlrs a tonne cost and freight for May/June, they said.
    Meanwhile there was no news of the recent tender quest by
Algeria for 30,000 whites, the traders said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21964" NEWID="17342">
<DATE>27-APR-1987 11:02:46.90</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>uk</D><D>syria</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1387&#31;reute
u f BC-SYRIA-SEEKING-WHITE-S   04-27 0038</UNKNOWN>
<TEXT>&#2;
<TITLE>SYRIA SEEKING WHITE SUGAR NEXT MONTH - TRADE</TITLE>
<DATELINE>    LONDON, April 27 - </DATELINE><BODY>Syria is holding a buying tender on May
6, for reply the next day, for 24,000 tonnes white sugar for
shipment in two equal parts in June and July, traders said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21965" NEWID="17343">
<DATE>27-APR-1987 11:07:13.72</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1416&#31;reute
b f BC-/-FED-EXPECTED-TO-SET   04-27 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>FED EXPECTED TO SET MULTI-DAY REPURCHASE PACTS</TITLE>
<DATELINE>    NEW YORK, April 27 - </DATELINE><BODY>The Federal Reserve is expected to
directly supply temporary reserves by arranging three or
four-day System repurchase agreements, economists said.
    They said there is less chance that it will add reserves
indirectly instead. If the Fed fails to supply reserves,
however, economists said this will be a strong indication that
it is firming policy, perhaps in preparation for a near term
discount rate increase from 5-1/2 pct.
    Federal funds, which averaged 6.29 pct on Friday, opened at
6-7/16 pct and remained there in early trading.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21966" NEWID="17344">
<DATE>27-APR-1987 11:07:40.39</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1420&#31;reute
u f BC-BANQUE-NATIONALE-DE-P   04-27 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>BANQUE NATIONALE DE PARIS TO RAISE CAPITAL</TITLE>
<DATELINE>    PARIS, April 27 - </DATELINE><BODY>French state-owned Banque Nationale de
Paris is planning a one-for-10 capital increase in the next few
months, the bank announced at its annual press conference.
    BNP is planning to distribute one new share or investment
certificate for every 10 held.
    The French state is a 99.97 pct shareholder in the bank,
which is due for privatisation during the next five years under
the government's plan to return 65 state-owned banks, insurance
companies and industrial groups to the private sector.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21967" NEWID="17345">
<DATE>27-APR-1987 11:08:48.24</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1426&#31;reute
r f BC-STANLEY-WORKS-&lt;SWK>-S   04-27 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>STANLEY WORKS &lt;SWK> SEES RECORD 1987 NET</TITLE>
<DATELINE>    NEW BRITAIN, Conn., April 27 - </DATELINE><BODY>Stanley Works said it
expects record sales and earnings in 1987 against earnings of
78.7 mln dlrs on sales of 1.37 billion dlrs in 1986.
    "We feel confident that, with our present momentum, the
Stanley Works is positioned for strong performance with record
sales and earnings expected for 1987," chairman Donald W. Davis
said.
    The company said its first quarter earnings from operations
rose to 19.2 mln dlrs from 14.8 mln dlrs a year ago.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21968" NEWID="17346">
<DATE>27-APR-1987 11:09:07.13</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1428&#31;reute
u f BC-EC-SUGAR-STANCE-LED-T   04-27 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>EC SUGAR STANCE LED TO GERMAN INTERVENTION MOVE</TITLE>
<DATELINE>    BONN, April 27 - </DATELINE><BODY>A shift in the European Community's
attitude to exports led to West German producers withdrawing
sugar sold into intervention, industry sources said.
    The sources noted the withdrawal followed a rise in maximum
Commission restitutions to within 0.5 European currency units,
Ecus, per 100 kilos of the level traders claim is needed to
match intervention prices.
    One source said, "This was taken as a sign that the
Community was taking a more favourable stance towards exports."
He added producers still expected more from the Commission.
    German producers had sold 79,250 tonnes into intervention.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21969" NEWID="17347">
<DATE>27-APR-1987 11:10:08.59</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1433&#31;reute
b f BC-FEDERATED-&lt;FDS>-TO-BU   04-27 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>FEDERATED &lt;FDS> TO BUY &lt;ALLIED STORES CORP> UNIT</TITLE>
<DATELINE>    CINCINNATI, Ohio, April 27 - </DATELINE><BODY>Federated Department Stores
Inc and Allied Stores, currently wholly owned by Robert
Campeau, said they have entered into a definitive stock
purchase agreement for the sale of Allied's Blocks Inc unit to
Federated for 55 mln dlrs cash.
    The price is subject to certain cloising adjustments, the
companies said.
    Allied said it is selling Blocks, which operates 10
department stores under that name in Indiana and Ohio, and two
Michigan stores under the Herpolsheimer's name, under its
previously announced restructuring program.
    The transaction is expected to close in June of this year
when the twelve Blocks stores will be operated as an entity of
Federated's Cincinnati-based Lazarus Department store division,
the companies said.
    The companies added that the deal is subject to customary
closing conditions, including expiration of the waiting period
under the Hart-Scott-Rodino Antitrust Improvement Act.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21970" NEWID="17348">
<DATE>27-APR-1987 11:10:56.19</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1439&#31;reute
b f BC-/IBM-&lt;IBM>-SEES-INCRE   04-27 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>IBM &lt;IBM> SEES INCREASINGLY POSITIVE 1987</TITLE>
<DATELINE>    NEW ORLEANS, April 27 - </DATELINE><BODY>International Business Machines
Corp expects its new products and cost-cutting measures to have
an increasingly positive impact as 1987 proceeds, chairman John
Akers told the annual meeting.
    Akers repeated his assessment of the company's outlook when
first quarter results were announced last week that "although
the worldwide economic situation remains unsettled, we see some
encouraging signs."
    He said IBM shipments in the first quarter exceeded the
1986 level, "the first time that has happened since 1985."
    Akers said that IBM will increase its emphasis on service
and support of customers this year and that by the end of 1987
it will have 20 pct more sales representatives and systems
engineers than two years ago.
    He said the company is accomplishing this by both moving as
many existing employees as possible into marketing and through
new hires.
    Akers said IBM will increase its U.S. software programming
workforce, both through retraining and hiring, by nearly six
thousands people over early 1985, to a yearend total of 26,000.
    Last year IBM announced that it would try to reduce its
workforce without violating its historical no-layoff policy
through early-retirement offers and retraining.
    Earlier this month, the company introduced a new line of
personal computers and this summer it will begin shipping a new
generation of minicomputers it hopes will compete successfully
against offerings from Digital Equipment Corp &lt;DEC>.
    Akers said, "We expect our product announcements and
resource-balancing measures to have an increasingly positive
impact as 1987 proceeds."
    Akers said that since last April the company's worldwide
workforce has been reduced by 11,000.
    He said some 14,000 people have been moved from one IBM
location to another, headquarters staff positions were cut by
7,000 and the number of U.S. managers has been cut by 1,500.
    Akers said IBM is "working hard to reduce our product
cycle," which is the time between the cenception of a new
product and its first shipment.
    "We want to make this as short as possible and we are
making progress," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21971" NEWID="17349">
<DATE>27-APR-1987 11:11:23.01</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1444&#31;reute
r f BC-GENCORP-&lt;GY>-UNIT-CON   04-27 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>GENCORP &lt;GY> UNIT CONSIDERING SALE OF STORES</TITLE>
<DATELINE>    AKRON, Ohio, April 27 - </DATELINE><BODY>General Tire, a subsidiary of
GenCorp, said it was evaluating the sale of its company-owned
stores as part of its ongoing restructuring program.
    General Tire said it received inquiries from tire dealers
and other interest parties. The company said the stores would
only be sold as a complete package, not individually.
    General Tire said it has 84 commerical and retail outlets
across the country.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="21972" NEWID="17350">
<DATE>27-APR-1987 11:12:04.71</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
V&#22;&#22;&#1;f1450&#31;reute
u f BC-BUDGET   04-27 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. SENATE LEADER WANTS BUDGET PASSED THIS WEEK</TITLE>
<DATELINE>    WASHINGTON, April 27 - </DATELINE><BODY>Senate majority leader Robert Byrd
said he wants the Senate to pass by late Friday a fiscal 1988
budget that starts reducing the flow of U.S. debt.
    The Democratic leader told a news conference and later the
Senate itself that the Senate would debate the measure today
even though technically the first procedural vote --on formally
bringing up the vital measure for action--would not take place
until tomorrow afternoon.
    The pending budget would cut some 38 billion dlrs from an
anticipated deficit that would occur without any action.
    Senate Republican Leader Bob Dole also said he wanted quick
action on the budget measure this week, before Friday afternoon
when some Republicans want to leave town.
    Dole said a Republican substitute probably would be offered
to the Democratic-written budget which would reduce the
estimated 1988 deficit of about 171 billion dlrs to about 134
billion dlrs, through cuts in defence and social spending and
some 18.5 billion dlrs in unspecified tax hikes in 1988.
    The House, also controlled by Democrats, has passed a
similar budget which would have to be reconciled with a Senate
plan. President Reagan's budget was defeated in the House.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22142" NEWID="17351">
<DATE>28-APR-1987 16:26:42.44</DATE>
<TOPICS><D>grain</D><D>wheat</D><D>barley</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f2752&#31;reute
r f BC-MANITOBA-SEEDINGS-PRO   04-28 0136</UNKNOWN>
<TEXT>&#2;
<TITLE>MANITOBA SEEDINGS PROGRESS WELL IN DRY WEATHER</TITLE>
<DATELINE>    WINNIPEG, April 28 - </DATELINE><BODY>The Manitoba Agriculture Department
weekly crop report said no measurable precipitation was
reported across the province in the past week, allowing small
grain seedings to progress rapidly across the south, with field
preparation under way in the northern growing regions.
    Small grains should be seeded across the Province in one to
two weeks, assuming weather remains dry.
    Planting progress was most advanced in the southeast, with
30 pct of the spring wheat acres and 40 pct of the barley acres
seeded. Cereals plantings were well under way in the south
central part of the province, with seedings spotty so far in
the southwest.
    Summer fallow acres should be in line with the latest
Statistics Canada projections, the report said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22143" NEWID="17352">
<DATE>28-APR-1987 16:33:11.11</DATE>
<TOPICS><D>gnp</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E A RM
&#22;&#22;&#1;f2774&#31;reute
u f BC-ROYAL-BANK-SEES-CANAD   04-28 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>ROYAL BANK SEES CANADIAN ECONOMY EASING</TITLE>
<DATELINE>    MONTREAL, April 28 - </DATELINE><BODY>Canadian gross domestic product should
grow at a real rate of 3.3 pct this year before easing to a 3.0
pct growth rate next year when U.S. economic growth is expected
to decline, Royal Bank of Canada, Canada's largest bank, said
in its monthly economic forecast.
    The forecast is from fourth quarter to fourth quarter. The
bank did not give Canada's real rate of growth for 1986. The
bank said it expects the Canadian dollar to remain at the 75
U.S. ct level for the next few months as major economic
fundamentals have not improved enough to return the currency to
a higher level in the absence of a wider interest rate spread.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22119" NEWID="17353">
<DATE>28-APR-1987 16:42:54.32</DATE>
<TOPICS><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f2807&#31;reute
u f BC-UK-NOT-CONSIDERING-RE   04-28 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>UK NOT CONSIDERING RESTRICTING OIL OUTPUT</TITLE>
<DATELINE>     HOUSTON, April 28 - </DATELINE><BODY>Britain is not considering any
restriction of its present oil production, UK Energy Minister
Alick Buchanan-Smith said.
     Speaking to reporters at the Offshore Technology
Conference, Buchanan-Smith said, "No, we've made that
absolutely clear, we see no reason for changing (the production
level)."
     Earlier today, Buchanan-Smith gave the go-ahead to Mobil
Corp for two new North Sea developments -- the Ness oil field
and Beryl B subsea water injection project -- totalling 96 mln
dlrs (60 mln British pounds).
     Unlike Norway, which has restricted its production of
North Sea oil by 80,000 barrels a day in an effort to stabilize
world oil prices, Britain has consistently refused to intervene
in the market place.
     Buchanan-Smith also said there may be a demand-supply gap
in the 1990s for natural gas in Britain, but added that it
would probably be less than had been previously estimated.
     Norway is a major producer of natural gas and this morning
Norway's Energy Minister Arne Oien said he was hoping Britain
will take more Norwegian gas in the 1990s.
     Buchanan-Smith also said he expects to announce the
results of the 10th licensing round of North Sea tracts next
month.
     He said there had been 75 applications for 127 tracts by
84 companies, and added that he expects about 50 blocks will be
licensed.
     He said the results would be in line with rounds prior to
but not equal to the ninth two years ago, which was one of the
most successful ever.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22120" NEWID="17354">
<DATE>28-APR-1987 16:47:13.28</DATE>
<TOPICS><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2826&#31;reute
r f BC-POGO-&lt;PPP>-SEES-INCRE   04-28 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>POGO &lt;PPP> SEES INCREASING OIL PRODUCTION</TITLE>
<DATELINE>    HOUSTON, April 28 - </DATELINE><BODY>Pogo Producing Co said it should gain
some 700 to 800 barrels per day of additional oil production
when new onshore wells start production in June.
    The company said work on offshore properties appears to be
on schedule to complete the addition before year end of about
10 mln cubic feet of gas and 400 barrels of liquids to Pogo's
daily producing capabilities.
    In the first quarter, liquids production averaged 8,525
barrels daily, down from 11,233 barrels a day in the year
earlier quarter.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22121" NEWID="17355">
<DATE>28-APR-1987 16:47:51.50</DATE>
<TOPICS><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D><D>norway</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f2829&#31;reute
r f BC-OCCIDENTAL-&lt;OXY>-HAS   04-28 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>OCCIDENTAL &lt;OXY> HAS STAKE IN NORWAY OIL FIND</TITLE>
<DATELINE>    LOS ANGELES, April 28 - </DATELINE><BODY>Occidental Petroleum Corp said a
group in which it is a participant discovered oil in the
offshore Norwegian North Sea Block 9/2-1 exploratory well.
    The well tested at a maximum rate of 6,800 barrels of 39
degree API gravity oil and 918 thousand cubic feet of gas
through a 3/4 inch choke. The well, the first to be drilled on
the block, was drilled in about 320 feet of water to a total
depth of 12,228 feet subsea.
    Occidental has a 10-pct stake in the 136,067-acre block
operated by Statoil, the Norwegian state oil company, which
holds a 50 pct interest.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22166" NEWID="17356">
<DATE>28-APR-1987 16:51:58.73</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>usa</D><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2848&#31;reute
u f BC-SHULTZ-SAYS-U.S.-WHEA   04-28 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>SHULTZ SAYS U.S. WHEAT BONUS OFFER UP TO USDA</TITLE>
<DATELINE>    WASHINGTON, April 28 - </DATELINE><BODY>U.S. Secretary of State George
Shultz said it was up to the Agriculture Department to decide
whether to offer subsidized wheat to the Soviet Union.
    Shultz told the Newspaper Farm Editors of America that a 
wheat bonus offer to the Soviet Union "is something that I
basically leave to the Agriculture Department to figure out."
    Last year, Shultz spoke out against President Reagan's
decision to offer subsidized U.S. wheat to the Soviet Union --
an offer Moscow spurned.
    "I've always been a little put off by the idea that we would
arrange our food supplies so as to price them in such a way
that the Soviet housewife could buy American-produced food for
less than the American housewife could buy it," Shultz said.
    "It also seems to me that if we are going to sell in world
markets, we have to meet the price," he added.
    Shultz called proposals to broaden the eligibility criteria
of USDA's export enhancement program (EEP) to include all U.S.
customers "questionable."
    An across-the-board EEP would mark a "considerable change" in
the current program, which Shultz said is designed "to say to
other countries that subsidize, particularly the European
Common Market, that we're not going to give up our markets to
those subsidized sales and we'll have a little kit bag that
will meet that competition and hold our markets for our
farmers."
    "If you just go across-the-board and subsidize everything,
that's a different order of program and seems to me quite
questionable," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22122" NEWID="17357">
<DATE>28-APR-1987 17:07:17.14</DATE>
<TOPICS><D>nat-gas</D></TOPICS>
<PLACES><D>canada</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F Y
&#22;&#22;&#1;f2899&#31;reute
r f BC-NORTH-AMERICAN-GAS-MA   04-28 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>NORTH AMERICAN GAS MARKET SOUGHT BY FERC</TITLE>
<DATELINE>    CALGARY, Alberta, April 28 - </DATELINE><BODY>Blocking Canadian gas imports
would not serve the long-term interests of the United States,
said Martha Hesse, chairman of the Federal Energy Regulatory
Commission, adding that the development of a freely open North
American energy market should be encouraged.
    "I firmly believe that the long-term interest of U.S.
consumers would not be served by any attempt to promote a 'Made
in America' label for gas," she said at an oil and gas
conference.
    She said the commission recognizes the important role
Canadian gas plays in the American market, despite grumblings
among U.S. domestic producers of the competition from north of
the border.
    Recent figures show Canada shipped 2.48 billion Canadian
dlrs worth of gas to the U.S. in 1986, down sharply from the
3.91 billion dlr total in 1985.
    "But we do seriously recognize the importance in the years
to come of the supplies of Canadian gas to U.S. markets," she
said. "And even in the short term, competition is generally a
good thing," she added.
    She said the commission is concentrating on improving the
access to U.S. pipelines, something that would be of great
benefit to Canadian producers.
    Hesse said transportation of Canadian gas is already
improving, gas imports rising more than 21 pct in the first two
months of the year. But Hesse declined to comment in detail on
the controversial December order, known as the "as billed issue",
because it is the subject of a new hearing.
    The order, which is being fought by Canada, involves
barring U.S. pipeline companies and consumers from paying
certain Canadian shipping expenses.
    Hesse said the order was never intended "as an attempt to
extend the arm of U.S. regulations across the border."
    However, a senior Canadian government energy official
warned delegates the ruling could severely weaken Canadian gas
producers. "Besides the extra territorial effect, there is the
potential that Canadian consumers and producers may end up
subsidizing the cost of transportation services originally
incurred on behalf of U.S. customers," said Robert Skinner, an
assistant deputy minister in Canada's energy department.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22116" NEWID="17358">
<DATE>28-APR-1987 17:18:43.51</DATE>
<TOPICS><D>carcass</D><D>livestock</D><D>orange</D></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE><D>lyng</D><D>yeutter</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C L T
&#22;&#22;&#1;f2940&#31;reute
d f BC-/U.S.-BEEF,-CITRUS-TA   04-28 0130</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. BEEF, CITRUS TALKS WITH JAPAN SEEN TOUGH</TITLE>
<AUTHOR>    By Greg McCune, Reuters</AUTHOR>
<DATELINE>    TOKYO, April 28 - </DATELINE><BODY>The Reagan administration is expected to
face tough resistance from Japan and from some entrenched U.S.
interests, if it hopes to succeed in forcing Japan to end beef
and citrus import controls by April, 1988, U.S. and Japanese
officials said.
    Agriculture Secretary Richard Lyng and Trade Representative
Clayton Yeutter took a hardline stance on beef and citrus in
talks here last week, insisting that the quotas be abandoned by
April, 1988.
    But that stance will be difficult to maintain because Japan
will resist the pressure fiercely and because some U.S.
suppliers of those commodities have an interest in maintaining
the quotas, U.S. and Japanese officials told Reuters.
    Twice in the past, the United States has negotiated with
Japan on beef and citrus import quotas -- during the Tokyo
round of multilateral trade negotiations in 1978, and in
bilateral talks in 1984.
    Each time the U.S. demanded an end to the quotas at the
outset but ultimately accepted substantial increases instead.
The current agreement calls for an increase in high quality
beef imports to 58,400 tonnes in fiscal 1987, oranges to
126,000 tonnes and orange juice to 8,500 tonnes.
    Lyng has said repeatedly that this time the United States
will not settle for simple increases in the quotas. Japan has
been given plenty of time to reform its agricultural support
system and the quotas must be scrapped, Lyng said.
    Japanese officials want to begin informal talks on beef and
citrus in August or September in Hawaii, sources said.
    If the U.S. intends to press its tough stance, and Japan,
as expected rejects the demands, the issue may then be put to
the General Agreement on Tariffs and Trade for settlement,
which would mean prolonging the friction beyond the April, 1988
deadline set by the U.S., officials said.
    In interviews here, Japanese officials insist that on beef
they will not liberalize imports, regardless of the U.S.
pressure, because the Japanese beef industry is not competitive
and would be damaged by freer trade.
    Most Japanese beef production still tends to be on small
farms which Japanese officials said must be protected from
cheap imports by use of the quota system.
    Furthermore, while the U.S. National Cattlemen's
Association is strongly supporting the tough administration
position, some U.S. meat exporters and packers are ambivalent.
    This is because to some U.S. exporters and packers beef
exports to Japan under the quota system are a steady, reliable
business managed by a quasi-government Japan Livestock Industry
Promotion Corporation. Under quotas the U.S. share of Japan's
beef market has expanded at the expense of Australia.
    In the absence of quotas, some U.S. suppliers are concerned
the U.S. share might decline and exporting to Japan would
become a riskier business, meat industry sources said.
    Major U.S meat industry leaders will meet in Washington
next week, including cattlemen, processors and exporters, in an
effort to reach an industry-wide consensus toward Japan.
    The citrus industry also appears split on the quota issue.
California's Sunkist, the largest U.S. supplier of oranges to
Japan, has expressed reservations about eliminating quotas.
    A representative of Sunkist said the cooperative is
concerned that in the absence of quotas, lower quality oranges
from Israel and South Africa might be competitive in Japan.
    Ironically, some Japanese officials hinted that fresh
oranges may be a product on which imports could be freed with a
minimum of impact on Japanese mandarin orange production.
    This is because U.S. oranges do not directly compete with
smaller Japanese mandarins, officials said. But Japan wants to
maintain quotas on orange juice because it fears imported juice
tastes better and would displace Japanese mandarin orange
juice, they said.
    One scenario mentioned by both U.S. and Japanese officials
is that Tokyo may try to blunt the tough administration stance
by offering to scrap the quota on fresh oranges in return for
U.S. acceptance of increases in beef and juice quotas.
    Lyng has acknowledged that liberalization of beef and
citrus imports is a difficult objective, but he insisted during
the week-long tour here that it is a high priority on the
U.S./Japan agriculture agenda-- more important than the rice
issue which received most of the attention.
    Asked about the ambivalence of some in U.S. agribusiness,
Lyng noted some interests on both the U.S. and Japanese side
have benefited from quotas but this will not stop the
administration from pressing for liberalization.
    And Lyng said the administration believes it can marshall
more support for eliminating the quotas now than ever before,
because of concern about Japan's rising trade surplus.
    "We're coming at this one (beef and citrus negotiation)
with a much stronger view coming out of Washington. The times
have changed. The trade balance is much worse," Lyng said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22111" NEWID="17359">
<DATE>28-APR-1987 17:20:01.49</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>opec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y RM
&#22;&#22;&#1;f2948&#31;reute
u f BC-OILPATCH-EXECUTIVES-S   04-28 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>DECLINE IN U.S. DOLLAR MAY BOOST OPEC OIL PRICE</TITLE>
<AUTHOR>     By JULIE VORMAN, Reuters</AUTHOR>
<DATELINE>     HOUSTON, April 28 - </DATELINE><BODY>The sliding value of the U.S. dollar
may soon force the Organization of Petroleum Exporting
Countries to raise its oil benchmark price, setting the stage
for prices as high as 22 dlrs a barrel by yearend, top
executives with U.S. oil companies said.
    The current benchmark price of 18 dlrs a barrel was
established by the Organization of Petroleum Exporting
Countries (OPEC) at its December meeting when the cartel set a
15.8 mln barrel per day production ceiling.
    But the continuing weakness of the U.S. dollar, the
currency used by OPEC for its oil sales, is making the 18 dlr
price difficult to sustain, said Fred Hartley, chairman of
Unocal Corp &lt;UCL>.
    The U.S. dollar has fallen in value by about 10 pct since
December and has fallen by a total of about 40 pct during the
past two years.
    Hartley told Reuters he expected significantly higher oil
prices this winter and would not rule out the potential for 25
dlrs a barrel by the spring of 1988.
    "I think June will be the critical month to see what they
do," said Hartley, who was in Houston to attend the World
Petroleum Congress. OPEC has scheduled a regular meeting in
June which some experts believe is likely to revive suggestions
that oil should be priced according to a basket of world
currencies instead of the U.S. dollar.
    E.H. Clark, chairman of &lt;Baker Hughes Inc>, said the Saudi
kingdom's need to generate revenues -- rather than greater
world demand -- would drive any price increases.
    "The Saudis have made committments and have a balance of
trade based on receiving 18 dlrs a barrel for this oil. But the
U.S. dollar won't buy as much as it did five or six months
ago," Clark said in an interview. "I'm betting on the Saudi
king's need to sustain revenues."
    Clark predicted that world oil prices would top 22 dlrs a
barrel by January one.
    However, the authoritative Middle East Economic Survey
reported yesterday that Saudi Arabia would not seek to increase
OPEC oil prices unless oil demand showed strong growth.
    Saudi sources told the newsletter that the policy was based
on the longterm need to restore the competitive position of
OPEC oil against other energy sources.
    Many oil industry experts are forecasting a modest increase
in world oil demand averaging one pct annually during the next
few years.
    Michel Moreau, a director of the &lt;Elf Aquitaine Group>,
said he believed the worldwide oil industry had reached a
consensus that prices of at least 20 dlrs a barrel were
necessary to cover exploration costs, royalties and taxes on
new production.
    The 20 dlr level will be reached this year only if the
cash-strapped nations of Nigeria, Egypt and Gabon refrain from
discounting oil prices or increasing production levels, Moreau
said.
    "I think if more than two (OPEC nations) defect, the
production agreement will fall apart," he said. "But this
threat is the Saudis' big stick to keep producers in line.
Nobody wants a repeat of the collapse that occurred in 1986."
    Lawrence Rawl, chairman of Exxon Corp &lt;XON>, told Reuters
he expected prices would remain at 18 dlrs through the end of
1987, adding that 20 dlrs a barrel was a possibility.
    Other major companies are taking a more cautious view of
prices, fearing that some OPEC members may yet upset the
cartel's production agreement.
    "This is a year of testing," said Alfred Munk, manager of
foreign affairs at Amoco Corp. (AN). "If they fail, there may
be a price decline to about 14 dlrs a barrel."
    French-owned Total CFP's vice president Pierre Vaillaud
said, "Demand is not going up very quickly, at best maybe one
percent a year. You can't change the price with just one pct,"
Vaillaud said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22107" NEWID="17360">
<DATE>28-APR-1987 17:23:28.70</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>nyse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2959&#31;reute
u f BC-NYSE-SAYS-ADVEST-&lt;ADV   04-28 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>NYSE SAYS ADVEST &lt;ADV> DECLINES COMMENT</TITLE>
<DATELINE>    NEW YORK, APril 28 - </DATELINE><BODY>Advest Group Inc said it is against
company policy to comment on unusual market activity or rumors
in response to inquiries on the unusual activity of its stock,
according to the New York Stock Exchange.
    The stock closed up 1-1/2 to 15. The exchange said it had
contacted the company and requested a public statement
indicating whether there are any corporate developments which
may explain the activity.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22123" NEWID="17361">
<DATE>28-APR-1987 17:26:50.23</DATE>
<TOPICS><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F E Y
&#22;&#22;&#1;f2968&#31;reute
r f BC-MORGAN-STANLEY-GROUP   04-28 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>MORGAN STANLEY GROUP &lt;MS> UNIT IN GAS DEAL</TITLE>
<DATELINE>    HOUSTON, April 28 - </DATELINE><BODY>Morgan Stanley Group Inc unit Natural
Gas Clearinghouse Inc said it has reached agreement with
(Pan-Alberta Gas Ltd) of Canada to import substantial
quantities of natural gas for its U.S. customers.
    The company said potentially 500 mln cubic feet a day of
Canadian natural gas could be imported under the agreement.
    It said the natural gas would be competitively priced but
did not refer to specific prices.
    Pan-Alberta is owned by Nova &lt;NVA.A.T> and Alberta Energy
Co, the company added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22104" NEWID="17362">
<DATE>28-APR-1987 17:35:02.42</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>amex</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2991&#31;reute
d f BC-AMERICUS-TRUST/KODAK   04-28 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICUS TRUST/KODAK &lt;KDUWI> BEGINS TRADING</TITLE>
<DATELINE>    NEW YORK, April 28 - </DATELINE><BODY>The American Stock Exchange said an
investment trust which issues units in exchange for Eastman
Kodak Co &lt;EK> shares began trading today on a "when issued"
basis.
    AMEX said the trust, known as the Americus Trust for Kodak
shares, trades under the ticker symbol KDUWI and will accept a
maximum of 7,500,000 shares.
    The trust included two categories which traded separately
from the units, known as prime and score components, which
respectively allowed investors to receive current income or
capital appreciation potential, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22099" NEWID="17363">
<DATE>28-APR-1987 17:58:50.31</DATE>
<TOPICS><D>dlr</D><D>money-fx</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-baker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f3041&#31;reute
u f BC-/U.S.-MAY-HAVE-TO-ACT   04-28 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. MAY HAVE TO ACT TO SUPPORT DOLLAR</TITLE>
<AUTHOR>    BY PETER TORDAY, REUTERS</AUTHOR>
<DATELINE>    WASHINGTON, April 29 - </DATELINE><BODY>The prospect of renewed assaults on
the dollar might force the United States eventually to unveil
distasteful measures to bolster support for its currency,
monetary analysts and economists said.
    Treasury Secretary James Baker has acknowledged that the
Reagan administration discussed the possibility of issuing
yen-denominated U.S. government bonds to support the dollar.
    But he has also dismissed speculation that he was ready to
take such an unusual step. Nonetheless, monetary sources say
the issue has been seriously discussed by the administration.
    "It is unlikely that we would undertake to do that now,"
Baker said last week. "In our view there might well be some who
would view (issuing U.S. yen bonds) as, in fact, a lack of
confidence by the U.S. in its own currency. And therefore we
don't think it's an appropriate thing to do."
    But if the Reagan administration did announce measures,
they could be a part of an internationally-coordinated effort
to end the instability in financial markets with genuine action
to reduce massive economic imbalances, monetary analysts
believe.
    And, like a currency defense package unveiled by the Carter
administration, issuing yen bonds could be accompanied by a
rise in the discount rate, now 5.5 pct.
    The Federal Reserve has resisted pressure to raise this key
rate so far, chiefly, some Fed officials say, because it could
hurt economic growth. Another concern is the fragile
international debt situation.
    Analysts who expect a currency support package are divided
over its possible timing. Some even believe an announcement
could come this week during a visit to Washington by Japanese
Prime Minister Yasuhiro Nakasone.
    "It would give some real focus to the visit, and it might
steady the dollar and prevent it from going down," said Charles
Taylor, an analyst with Prudential-Bache Securities.
    But monetary sources said they thought it unlikely that the
Reagan administration would resort to measures which would
bring to mind the troubles of President Carter.
    Until very recently, the current administration has urged a
lower dollar to help redress its huge trade deficit while
Carter faced a weak dollar as confidence in his economic
policies collapsed. But today, Washington's policies are
increasingly in question.
    The Carter plan was unleashed on Nov. 1, 1978. And it was a
resounding success. "This package really gave credibility to the
administration to get the dollar up," said Robert Hormats,
vice-president of Goldman Sachs Inc and a former senior U.S.
economic in the Carter and Reagan Administrations.
    The dollar then stood at just under 1.87 marks and around
188 yen. Today it stands around 1.79 marks and 139 yen.
    "The problem is now that the administration in rhetoric is
evidencing concern about the dollar but in practice is really
doing very little," Hormats said of statements to support the
dollar by U.S. officials.
    Several currency traders and foreign central bank officials
think these statements still fall short of unequivocally saying
the dollar has declined far enough.
    Carter issued 6.4 billion dlrs of mark and swiss franc
bonds aimed essentially at buttressing pyschological support
for the dollar but also at attracting foreign investors, who
had lost confidence in the dollar, to U.S. government notes.
    The package was supported by a one pct rise in the discount
rate, to 9.5 pct, drawings on U.S. monetary reserves at the
International Monetary Fund and sales of U.S.-held SDRS to
other IMF members. 
    It was also supported by increased Fed currency swap lines
with other central banks and stepped up official U.S. gold
sales.
    Stephen Axilrod, a former Fed official who is now
vice-chairman of Nikko Securities, said, "I think it's very
unlikely they would do that now."
    He argued that it was politically difficult to take action
to support the dollar while Japan and West Germany have still
to fulfill pledges to stimulate their economies.
    But most analysts believe a currency support package would
only work if genuine economic measures to redress world trade
imbalances are undertaken by the leading industrial powers.
    It could coincide with the June Venice summit of leaders of
the seven major industrial democracies -- the United States,
Japan, West Germany, Britain, France, Italy and Canada.
    Hormats said he believed the currency has to decline
slightly further for a package to have impact. He said the
seven nations' Paris Accord to stabilize currencies was forged
too soon to fundamentally change market sentiment.
    "I think we're nearing a point when they would feel
(politically) comfortable doing this," Hormats said.
    Many analysts think the administration's reluctance to act
firmly on the dollar has been due to its desire to keep up the
pressure on its allies to bolster their economies and for fear
of fanning protectionist sentiment in Congress.
    But Hormats said "there will be a point at which the
government of the United States shows it does give a damn for
the dollar."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22089" NEWID="17364">
<DATE>28-APR-1987 18:10:47.47</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f3061&#31;reute
r f BC-GENERAL-DYNAMICS-&lt;GD>   04-28 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL DYNAMICS &lt;GD> NAMED AS DEFENDANT</TITLE>
<DATELINE>    NEW YORK, April 28 - </DATELINE><BODY>General Dynamics Corp was named as a
defendant in a multimillion dlr fraud suit brought by the U.S.
government in 1985 stemming from government subsidized
shipbuilding contracts, according to court documents.
    The government originally filed the suit against two of
Dynamic's officers and two officers of its subcontractor,
Frigitemp Corp. The suit, filed in federal court in New York,
seeks to reclaim funds from kickbacks, overpayments and
subsidies that were allegedly overexpended on two shipbuilding
projects. The government paid 70 mln dlrs in subsidies between
1978 and 1982, court papers said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22131" NEWID="17365">
<DATE>28-APR-1987 18:35:40.10</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f3084&#31;reute
d f BC-GOVERNMENTS-SEEN-MORE   04-28 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>GOVERNMENTS SEEN MORE INVOLVED IN OIL DRILLING</TITLE>
<DATELINE>     HOUSTON, April 28 - </DATELINE><BODY>The offshore oil drilling industry
will attract increasing numbers of government connected firms
in the 1990s, according to Ronald Tappmeyer, Vice Chairman of
Reading and Bates Drilling Co.
     Tappmeyer told the Offshore Technology Conference that
contract drilling was reaching the same kind of situation that
oil producing companies reached when their oilfields were
nationalized in nations as Venezuela, Iran and Saudi Arabia.
     He said local connections to the nation whose waters are
being drilled was an increasingly important factor in the
market.
     "We have seen contractors put at competitive disadvantages
in nations in which they had worked successfully for years
essentially moved aside to make room for locally-owned firms or
a locally-built rig," he said.
     Tappmeyer, who is president of the International
Association of Drilling Contractors, said how far the trend
would spread depends on the growth of trade protectionism.
     He added that international contractors will increasingly
find their role restricted to regions that require special
expertise and experience, such as wildcat areas and severe
environments such as in the Arctic and extremely deep waters.
     Tappmeyer also said he expects producing companies to
provide the main financing for offshore drilling in the coming
decade as banks will be unwilling to repeat overexposing
themselves and drilling contractors will have difficulty
providing financing out of cash flow.
     At the same time, he said he saw the financing as indirect
as he does not see producers getting back in the rig-owning
business.
     He also said projectfinancing will have to be backed up
by work commitments to guarantee the payoff of construction
costs.
     For the time being, he said there was a superabundance of
rigs. But he said there will be a need for new, technologically
advanced rigs within a few years.
     He said the floating-drilling rigs were most likely to
benefit from new developments in technology, adding that by
2,000 there should not be an ocean left that is too deep, too
cold, too stormy or too remote to be explored.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22085" NEWID="17366">
<DATE>28-APR-1987 18:47:31.82</DATE>
<TOPICS><D>grain</D><D>oilseed</D></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>andriessen</D></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T
&#22;&#22;&#1;f3100&#31;reute
u f PM-COMMUNITY-AGRICULTURE   04-28 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>EC OFFICIALS PLAN NEW EFFORT ON FARM PRICE TALKS</TITLE>
<AUTHOR>    By Gerrard Raven, Reuters</AUTHOR>
<DATELINE>    LUXEMBOURG, April 29 - </DATELINE><BODY>European Community (EC) leaders hope
to make a new attempt to inject fresh urgency into talks on
reforming the bloc's controversial farm policy when EC
agriculture ministers meet for a third day of discussions here
this morning.
    Community officials said farm commissioner Frans Andriessen
met Belgian minister Paul de Keersmaeker late last night to
plan a new initiative.
    Both Andriessen and de Keersmaeker, who currently chairs EC
farm ministers' meetings, were said to be disappointed by the
lack of progress in the talks so far this week.
    The bloc's executive Commission has proposed a tough
package involving effective cuts of upwards of 10 pct in
farmers' returns for many crops this year.
    Ministers were due to have adopted a package by April 1 but
are only this week getting down to serious negotiations.
    Yesterday, they discussed plans to cut cereals prices by
2.5 pct, and reduce farmers' rights to sell surpluses to EC
stores, to cut prices for fruit and vegetables by larger
margins, and to impose a tax on EC-produced and imported
oilseeds, a proposal which would be likely to sour EC trade
relations with the United States.
    Diplomatic sources said ministers, all of whom are opposed
to at least one of these propositions, maintained entrenched
positions yesterday, making the task of de Keersmaeker in
steering his colleagues towards a compromise a daunting one.
    They said he could also be treading a minefield if he
sought to breach the divide between his fellow ministers over
plans to change the system by which EC farm prices, expressed
in a notional common currency, are translated into the
currencies of member states.
    West German minister Ignaz Kiechle indicated yesterday he
would veto the adoption of Commission proposals in this area,
saying they would unfairly affect farmers in strong currency
nations.
    The Belgian sources said de Keersmaeker may today present a
paper to his colleagues which, while not having the status of a
compromise proposal, would attempt to narrow their options.
    But diplomats said the philosophical gap between ministers
like Kiechle, with his commitment to maintaining traditional
rural patterns, and others who see runaway farm spending as
unacceptable economically, is likely to prove extremely
difficult to bridge.
    They agreed with EC farmers' union association president
Hans Kjeldsen who said yesterday that an agreement in June
appeared to be the best that could be hoped for.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22084" NEWID="17367">
<DATE>28-APR-1987 18:54:47.76</DATE>
<TOPICS><D>money-fx</D><D>dlr</D><D>stg</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM C
&#22;&#22;&#1;f3115&#31;reute
u f BC-fin-futures-outlook   04-28 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>NERVOUS CONSOLIDATION SEEN IN CURRENCY FUTURES</TITLE>
<AUTHOR>    By Brad Schade, Reuters</AUTHOR>
<DATELINE>    CHICAGO, April 28 - </DATELINE><BODY>Currency futures at the International
Monetary Market (IMM) are likely to consolidate near current
levels in nervous trading conditions over the next few days,
although underlying sentiment remains positive, currency
analysts said.
    "Currencies are likely to muddle around these levels," said
Shearson Lehman Brothers analyst Anne Parker Mills.
    Traders are unwilling to establish either long or short
positions in futures because of uncertainty over upcoming trade
talks and U.S. trade legislation, they said.
    Japanese prime minister Yasuhiro Nakasone and President
Reagan will meet Thursday and Friday to discuss trade tensions
between their two countries, while at the same time the
Democratic-led U.S. House of Representatives will be voting on
a controversial trade bill.
    "Unless something really surprising comes out of the
Nakasone/Reagan talks, I don't see the dollar getting above 142
(yen) and 1.83 (marks)," Mills said.
    The equivalent in futures of those interbank levels are
about 0.007050 to 0.007025 in the June yen contract and about
0.5500 in June marks, she said.
    June yen closed at 0.007191 on Tuesday while June marks
finished the day at 0.5602.
    Mills said, however, that "the chances of them (Reagan and
Nakasone) coming up with something new are limited." One
possibility might be a Japanese discount rate cut, but "they
probably won't do that unless we raise our discount rate."
    Recent firmness in the federal funds rate and the Federal
Reserve's slowness in adding reserves to the banking system has
heightened sentiment that the money-policy making body has
already tightened credit and a discount rate hike is possible,
analysts said.
    Recent weakness in currencies and strength in the dollar
has been more the result of nervous shortcovering ahead of the
meeting rather than reaction to the White House statement
Monday supporting a stable dollar, said Harris bank currency
analyst Earl Johnson.
    Traders "are worried about the outcome of the talks between
Reagan and Nakasone," and as the talks are late in the week,
the market may not get a chance to react to any developments
until Monday, Johnson said.
    Until then, Johnson expects the dollar to remain in a broad
range between 1.77 and 1.85 marks and 137 to 140.50 yen.
    Chicago Corp analyst John Bilson, however, expects a rally
in the European currencies over the near-term, while the yen,
at this point is overbought.
    "The Japanese are moving away from the U.S. market," and
investment funds formerly directed to the U.S. are likely to
flow into Europe, Bilson said.
    The chief beneficiary of such a flow of funds will be
sterling, Bilson said.
    "Sterling rates are about four pct above Japanese rates,
despite the half point rate cut," Bilson said. Major U.K. banks
lowered their base lending rates today to 9.5 pct.
    In addition to a favorable interest rate spread which
should attract funds, Bilson said the firm oil market and the
strong political situation of Prime Minister Thatcher also make
British investments attractive.
    Passage of the trade bill, which includes an amendment by
Missouri Democrat Richard Gephardt that would force a 10 pct
annual cut in imports from countries with an excessive trade
surplus with the U.S. if they fail to remove unfair trade
barriers to the U.S. after six months of negatiations, would
likely pressure the yen, Bilson said.
    Bilson, however, said the legislation is unlikely to pass,
but that Nakasone is likely to bring a promise to open Japanese
markets to U.S. goods and back it up with government contracts
with U.S. manufacturers.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22082" NEWID="17368">
<DATE>28-APR-1987 19:44:20.97</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>oecd</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f3153&#31;reute
u f BC-GLOBAL-ECONOMIC-ILLS   04-28 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>GLOBAL ECONOMIC ILLS MAY TAKE YEARS TO RESOLVE</TITLE>
<AUTHOR>    By Peter Torday, Reuters</AUTHOR>
<DATELINE>    WASHINGTON, April 28 - </DATELINE><BODY>A study by the Organization
for Economic Cooperation and Development says it may take years
to resolve the huge economic imbalances now plaguing the world
economy, U.S. and western officials said.
    The paper was expected to stimulate policy debate among
senior officials of leading industrial nations preparing for
next month's annual meeting of finance ministers in Paris.
    The May 11-13 ministerial meeting of the 24-nation OECD, a
forum for coordinating economic policies, has taken on added
significance in view of the difficulties dogging the attempts
of major nations to achieve joint goals.
    Despite two meetings of the seven leading industrial powers
-- the United States, Japan, West Germany, France, Britain,
Italy and Canada -- pledges to change policy have still to be
turned into action.
    As a result, financial markets have been unusually unstable
and have focussed their attention on every international
meeting for clues that change is in the air.
    The study concludes that there needs to be much greater
fiscal action by the United States, West Germany and Japan to
reduce their massive trade imbalances, a U.S. official said.
    "We looked at what we could do to get from here to there.
We've got to continue cutting the deficit, and there needs to
be domestic expansion (in West Germany and Japan)," the official
said, noting that significant actions are called for.
    Officials noted the study strongly underscores the need for
action by West Germany and Japan.
    Seperately, western officials said they understood that
U.S. overtures to Japan and West Germany to cut their
short-term interest rates have been rebuffed for now.
    Such rate reductions would have helped stabilize the steep
decline of the dollar, by widening the difference between bond
yields in the United States, on the one hand, and in Japan and
West Germany on the other.
    One official said that while the policy actions called for
were similar to those urged by the seven, the study shows "it's
going to take several years to resolve (the trade
imbalances)."
    The OECD has set three pct as the necessary target for
average annual growth in the industrial world if trade
imbalances are to be corrected and the Third World debt crisis
kept under control.
    The study strongly implies these targets will not be met
without major action by the three leading nations, officials
said.
    Equally, it suggests that without major fiscal expansion by
Bonn and Tokyo, and a corresponding deep reduction in the U.S.
budget deficit, the current trend of an upturn in U.S. interest
rates and a weakening dollar will go uncorrected.
    U.S. Treasury Secretary James Baker says the dollar's deep
decline alone will shave only 15 billion dlrs off the roughly
140 billion dlrs U.S. deficit in goods and services this year.
    But the study group also found that progress has been made
and the seven main nations are moving in the right direction.
    In Paris this February, the seven agreed that fiscal
actions by the three major powers would help them stabilize
currencies around levels ruling then.
    The Reagan administration, this week facing the prospect of
a tough trade bill aimed at curbing foreign trade surpluses,
also promised to fight protectionism.
    The officials said Washington must move ahead with budget
deficit cuts of around 36 billion dlrs, a figure set as a goal
by the Democratic leadership of the House of Representatives.
    They also called for significant increases in the budget
deficits of Japan and West Germany. Since the study group met,
Japan has announced a roughly 35 billion dlr supplementary
budget which was warmly welcomed by Washington.
    Nonetheless there is caution over both the timing and the
content of the proposed Japanese budget.
    Financial markets, unconvinced by yet another Japanese
promise of action, have pushed the yen sharply higher against
the dollar.
    While no West German fiscal action is promised before
January 1988, U.S. officials would welcome such a move. "We'd
love them to accelerate their tax cuts," one official said.
    West German economic growth fell steeply in the first
quarter this year, but the official said Bonn has reassured
U.S. officials they expect growth to pick up again.
    If faster German growth fails to emerge, Bonn could find
itself under pressure to speed up tax cuts planned for early
1988 when leaders of the seven meet in Venice this June.
 reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22124" NEWID="17369">
<DATE>28-APR-1987 19:45:10.95</DATE>
<TOPICS><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f3154&#31;reute
u f BC-SOVIET-SAYS-DATA-SHAR   04-28 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>SOVIET SAYS DATA SHARING WILL HELP FIND OIL</TITLE>
<DATELINE>    HOUSTON, April 28 - </DATELINE><BODY>A Soviet geologist said scientists need
to coordinate data about onshore and offshore oil deposits to
help identify global formations that would indicate other
potential discoveries of oil and gas reserves.
    Vladmir Vladiminovich Semenovich, the head of petroleum
geology at Moscow State University, told delegates at the World
Petroleum Congress that exploration efficiency could also be
improved through new and more sophisticated technology.
    "We should emphasize that when having the data about
petroleum distribution onshore and offshore, it is possible to
clarify the idea of global regularities in oil and gas
prospects," Semenovich said. "However, much work should be done
to coordinate data concerning the structure and oil and gas
prospects in adjoining onshore and offshore basins."
    Sharing the information could help geologists better
predict regional trends and underground formations that
indicate the presence of oil or gas, he said.
    Semenovich also said that existing estimates of the
potential oil and natural gas resources of the world may need
to be revised upward as oil companies continue to examine
unexplored regions.
    The world, which has already produced 476 billion barrels
of oil and gas, has a current total of about 733 billion
barrels in proved reserves. Undiscovered resources are
estimated at about 1.4 trillion barrels, or about half of the
total ultimate reserves, Semenovich said.
    "There are a lot of unstudied regions all over the world
and, as far as the already known basins, one continues to find
additional reserves," he said, noting that Antarctica has been
virtually ignored. "The existing estimate of potential
resources of the world may need to be enlarged."
    To find deeper and more expensive reserves, scientists will
need to use 3-D mapping of underground formations and laser
spectrometry to measure bitumen in soils and plants among other
techniques, he said.
    He estimated that continental slopes contain about 10 to 13
pct of all offshore reserves.
    Semenovich also said that virtually all of the total oil
and gas resources now estimated to exist in the world would be
discovered and placed in production during the next 50 years.
    After his speech, Semenovich told Reuters that Soviet oil
production was increasing. "The difficulties of 1985 have been
overcome and we're now back to normal production," he said.
    The Soviet Union, the world's largest producer of oil, had
experienced drilling and technical problems that cut total
liquids production from 12.45 mln barrels a day in 1984 to 12.1
mln barrels a day in 1985. Last year, the Soviets produced an
estimated 12.3 mln barrels.
    When asked about the recent reopening and testing of a coal
gasification project in Soviet Central Asia, Semenovich said
the project was important because of the lack of oil reserves
in the region.
    Semenovich declined to identify at what level of world oil
prices the coal gasification process would become economic
again. "It's too expensive for the time being," Semenovich
said.
    "Theoretical development is underway and tests are being
run. For the moment, coal gasification is a very small part of
the energy industry," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22077" NEWID="17370">
<DATE>28-APR-1987 22:59:31.46</DATE>
<TOPICS><D>hk</D><D>dlr</D><D>money-fx</D></TOPICS>
<PLACES><D>japan</D><D>hong-kong</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>adb-asia</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f3217&#31;reute
u f BC-HONG-KONG-DEFENDS-CUR   04-28 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>HONG KONG DEFENDS CURRENCY LINK WITH U.S. DOLLAR</TITLE>
<DATELINE>    OSAKA, Japan, April 29 - </DATELINE><BODY>Hong Kong has not taken unfair
advantage of its currency's link with the U.S. Dollar, Hong
Kong monetary affairs secretary David Nendick told the annual
meeting of the Asian Development Bank here.
    He said: "We have taken the rough with the smooth, having to
accept a downward adjustment of our economy in 1985 following a
period when the U.S. Dollar was clearly overvalued in world
terms, but benefiting as that currency subsequently declined."
He said that since the establishment of the link in 1983, Hong
Kong's trade had been broadly in balance. This year a modest
deficit was expected.
    "Under the link, Hong Kong's entirely free and open economy
continues to adjust quickly to any external imbalances, but the
burden of adjustment now falls almost entirely on our domestic
interest rates, money supply and price levels," Nendick said.
    "The relative volatility in these domestic variables is the
price we pay for the stability of our currency against the U.S.
Dollar," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22078" NEWID="17371">
<DATE>29-APR-1987 00:05:46.87</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>adb-asia</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0002&#31;reute
u f BC-ADB-MEETING-ENDS,-MAR   04-29 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>ADB MEETING ENDS, MARKED BY CRITICISM</TITLE>
<AUTHOR>    By Rich Miller, Reuters</AUTHOR>
<DATELINE>    OSAKA, Japan, April 29 - </DATELINE><BODY>The Asian Development Bank (ADB)
today wound up a three-day meeting which was marked by
criticism of the ADB from both rich and poor member nations.
    In speech after speech, the 20-year-old ADB was charged
either with not doing enough to help countries in the region,
or with funding projects which were not worthwhile.
    The attacks often, but not always, broke down along
developed and developing country lines.
    The former, which provide the ADB with money, generally
emphasized the need for quality projects.
    The ADB was not even spared criticism from its host country
and largest shareholder, Japan.
    "I am not 100 pct satisfied with the performance of the ADB,"
Japanese finance ministry deputy director-general Fumiya
Iwasaki told Reuters.
    He said the Bank had only approved five pct more new loans
in 1986 than in 1985. He hoped for a return to the more rapid
growth rates of earlier years.
    "The Asian economy is now changing. The ADB should adapt
itself to those changes," he said.
    But supporters of the ADB said it already was changing, and
Iwasaki made it clear Japan welcomed the steps being taken by
the ADB's president Masao Fujioka.
    "So far, we have confidence in Mr Fujioka's leadership,"
Iwasaki said.
    To spur demand for loans, the ADB has restructured its
country and agricultural departments to enable it to identify
the needs of developing member countries more quickly.
    But some delegates said the ADB was putting too much
emphasis on the need to give out more money, and not enough on
checking the quality of the projects involved.
    "The success of the Bank should not be measured by the
volume of its lending but by its contribution to the
development process," chief U.S. Delegate Charles H. Dallara
told the meeting.
    He said: "Project quality is an area which has attracted
attention recently and on which the United States has expressed
strong views. Although over the years the majority of ADB loans
have been sound, we have had problems with some of the projects
brought before the board of directors lately."
    Australia voiced similar concerns.
    Australian delegate C. J. Hurford said: "Bad projects
benefit neither the Bank nor its borrowers. They damage the
Bank's reputation and ultimately lessen support from donor
countries and capital markets."
    There were also criticisms of proposals from developing
countries that the ADB make more of its loans dependent on
economic reforms in Third World nations.
    "We are concerned with the Bank's increasing preoccupation
with dialogue," said India's delegate, S. Venkitaramanan.
    "We have expressed our unhappiness with the insistence of
multi-lateral agencies on global prescriptions," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22144" NEWID="17372">
<DATE>29-APR-1987 01:20:46.89</DATE>
<TOPICS><D>gnp</D></TOPICS>
<PLACES><D>sri-lanka</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0048&#31;reute
u f BC-SRI-LANKAN-MINISTER-S   04-29 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>SRI LANKAN MINISTER SEES SLOWEST GROWTH IN DECADE</TITLE>
<AUTHOR>    By Chaitanya Kalbag, Reuters</AUTHOR>
<DATELINE>    OSAKA, Japan, April 29 - </DATELINE><BODY>Civil strife in Sri Lanka will
make the economy's growth rate in 1987 its slowest in a decade,
Sri Lankan finance minister Ronnie de Mel said here.
    He told Reuters in an interview that he expected gross
domestic product to expand by only four pct in 1987. He said it
averaged five pct over the past three years.
    For the first two years after the present troubles began in
1983, production of key commodities like tea, rubber, coconuts
and rice kept up, he said.
    Tamils on the island are fighting for a seperate state.
    De Mel said: "Private sector production in fact grew by 25
pct in 1984 and 20 pct in 1985. But last year things took a
turn for the worse."
    He said prices of tea, the main export, fell to half their
1984 levels. World prices of rubber and copra also fell.
    "There was also a decline in income from tourism and
remittances from Sri Lankans working in the Middle East."
    He said any savings from the worldwide drop in crude oil
prices were wiped out by the cut in commodity earnings.
    "To add to all this we have had, between January and March
this year, the worst drought I have seen in my life," he said.
    De Mel said the drought would seriously affect agricultural
production.
    He said because of the fighting in the country, defence
expenditure was now about 20 pct of the national 1987 budget of
70 billion rupees.
    Sri Lanka planned to borrow about 600 mln dlrs in 1987 from
the World Bank and the Sri Lanka Aid Consortium which comprises
members of the Organisation for Economic Cooperation and
Development (OECD), he said.
    "We also plan to ask the International Monetary Fund for
another 200 mln dlrs through a structural adjustment facility
and a compensatory financing facility to balance our export
revenue cuts," de Mel said.
    He said despite the unrest, Sri Lanka had succeeded in
keeping its total foreign debt to three billion dlrs by
avoiding borrowing from commercial banks.
    "Commercial bank debt accounts for only 15 pct of our total
foreign debt," he said.
    He said the Mahaweli hydro-electric project was nearing
completion. It was likely to cut dependence on oil imports.
    "The project will more than treble our hydro-electric power
from 300 megawatts to nearly 1,000 megawatts," de Mel said.
    He said 20 new townships would rise around the project,
which is in the north-central part of the island. It was
expected to irrigate 1.2 mln acres of land and indirectly
provide employment for 500,000 landless families.
    De Mel said Tamil guerrillas were waging a war of attrition
in the island's north and east.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22079" NEWID="17373">
<DATE>29-APR-1987 04:19:41.23</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>china</D><D>vietnam</D></PLACES>
<PEOPLE><D>fujioka</D></PEOPLE>
<ORGS><D>adb-asia</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0176&#31;reute
u f BC-ADB-CHIEF-SAYS-CHINA   04-29 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>ADB CHIEF SAYS CHINA LIKELY TO BORROW 300 MLN DLRS</TITLE>
<AUTHOR>    By Chaitanya Kalbag, Reuters</AUTHOR>
<DATELINE>    OSAKA, Japan, April 29 - </DATELINE><BODY>China is likely to borrow up to
300 mln dlrs this year from the Asian Development Bank (ADB),
president Masao Fujioka said.
    The loans would be China's first from the ADB.
    "I think there will be at least one loan to China this year,
and possibly a second," Fujioka told a news conference at the
end of the ADB's annual meeting here.
    Asked how large the loans were likely to be, Fujioka said
he thought they would range from 100 mln to 150 mln dlrs each.
    China is the ADB's newest member, joining in March 1986.
    China is the third-largest shareholder after Japan and the
U.S.. It was elected to the ADB's 12-member board yesterday.
    Fujioka announced that the ADB's 1989 meeting would be held
in Peking. The 1988 meeting will be held in Manila.
    Fujioka said the ADB would consider delegates' suggestions
that it set up a task force of experts to define its future
role. The ADB's performance was criticised by both its rich and
poor members at the three-day meeting just finished.
    External experts had carried out a study on ADB policy for
the 1980s, Fujioka said. He said a similar study for the 1990s
would be useful, but the ADB had no fixed ideas yet.
    He said the ADB had already responded to members like the
U.S., Which urged it to improve analysis of funded projects.
    "We had already decided that the ADB should strengthen its
research capability," Fujioka said.
    He said ADB lending had declined, but "the amount is not the
only thing that counts. We also want to be a catalyst by taking
innovative measures like the promotion of the private sector."
    Fujioka also talked of the struggle between the U.S. And
Japan over their voting power in the ADB.
    Total Japanese contributions to the ADB are higher than
those of the U.S., So Japanese delegates asked for their voting
power to reflect this. The U.S. Opposed the move.
    "It is advisable and wise, for institutions like the ADB to
be viable, that there be a reasonable relationship between
financial contributions and voting power," Fujioka said.
    But he indicated the problem remained unresolved.
    Asked if the ADB would respond to a plea by Vietnam to
resume lending which was cut off in 1974, Fujioka re-iterated
his view that conditions there were not conducive to banking.
    Fujioka declined to elaborate on Vietnam, but said there
had been no pressure from the U.S. Or any other country on the
issue.
    He also spoke about demands by the bank's financiers that
it take a more active role in prodding borrowers into making
economic policy changes.
    "The initiative must come from the borrowing country. We
don't accept that we impose policy conditions. There must be a
two-way consultation," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22076" NEWID="17374">
<DATE>29-APR-1987 04:39:06.29</DATE>
<TOPICS><D>reserves</D><D>trade</D></TOPICS>
<PLACES><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0201&#31;reute
u f BC-TAIWAN-RESERVES-RISE   04-29 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN RESERVES RISE ON TRADE SURPLUS, SPECULATION</TITLE>
<AUTHOR>    By Chen Chien-kuo, Reuters</AUTHOR>
<DATELINE>    TAIPEI, April 29 - </DATELINE><BODY>Taiwan's foreign exchange reserves have
risen to a new high of 56 billion U.S. Dlrs, and officials
attribute the increase to a surging trade surplus and the
influx of speculative funds.
    The reserves, up from 54 billion dlrs on April 19, compare
with 27.3 billion a year ago, the Central Bank said.
    Vice economic minister Wang Chien-shien told Reuters: "The
rising reserves will certainly intensify our trade friction
with the U.S."
    A central bank official, who declined to be named, said
Taiwan's trade surplus is expected to exceed 5.5 billion U.S.
Dlrs in the first four months of 1987, against 4.25 billion a
year ago.
    The influx of speculative funds, mainly from Hong Kong,
Japan and the U.S., Also played a major role behind the rise of
the reserves, he said, but declined to give figures.
    Banking sources said almost 10 billion U.S. Dlrs had
entered Taiwan since early 1986. About three billion of the
funds were remitted through different channels, including the
black market, since the start of this year, they said.
    Wang Chao-ming, vice chairman of the government's Council
for Economic Planning and Development, said he expects the
reserves to rise in the next few months because of the
continuing high level of Taiwan's exports and the steady
appreciation of the local dollar against the U.S. Currency.
    "The latest government moves to open (the domestic) market,
cut import tariffs and lift foreign exchange controls have
achieved little success," he said.
    Vice economic minister Li Mo said tariffs were cut on some
1,700 products in January and a further 862 this month in a bid
to encourage more imports, especially the U.S.
    More tariff cuts on about 300 imported products, including
televisions, video tape recorders, cosmetics and refrigerators
will be announced in a month or two, Li said.
    Li's colleague, Wang Chien-shien, said the government will
send several trade missions to the U.S. This year to buy about
one billion U.S. Dlrs of products, including machinery, power
equipment, grains and precision tools.
    "We earnestly hope to reduce our trade surplus with the
U.S.," he said.
    Taiwan's trade surplus rose to a record 13.6 billion U.S.
Dlrs last year from 10.2 billion in 1985, and it widened to
3.61 billion in the first quarter of 1987 against 2.78 billion
a year ago, official statistics show.
    The surplus has increased U.S. Pressure on Taiwan for a
faster appreciation of its currency, which has risen by about
18 pct since September 1985.
    It opened at 33.10 to the U.S. Dollar today.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22071" NEWID="17375">
<DATE>29-APR-1987 04:57:56.71</DATE>
<TOPICS><D>bop</D><D>trade</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0237&#31;reute
b f BC-GERMAN-CURRENT-ACCOUN   04-29 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN CURRENT ACCOUNT SURPLUS WIDENS IN MARCH</TITLE>
<DATELINE>    WIESBADEN, April 29 - </DATELINE><BODY>West Germany's current account
surplus widened to a provisional 8.8 billion marks in March
from a slightly downwards revised 6.5 billion in February, a
spokesman for the Federal Statistics Office said.
    The trade surplus fell to a provisional 10.1 billion marks
from 10.4 billion in February.
    The Statistics Office had earlier put the February current
account surplus at a provisional 6.6 billion marks. The
provisional February trade surplus was confirmed.
    The Office said the March trade surplus had also risen
strongly from the year-ago month total of 8.5 billion marks,
while the March current account surplus compared with only 4.3
billion marks a year earlier.
    The figures given by the office show nominal trade flows,
but an office statement said that the current account surplus
had also risen in real terms from February.
    However, it attributed this partly to the fact that
payments to the European Community had been brought forward in
February, with the result that transfers abroad in March were
unusually low.
    The Statistics Office said March imports totalled 36.93
billion marks, a rise of 15 pct from February and of 4.7 pct
compared with March 1986.
    March exports of 47.06 billion marks were 11 pct higher
than in February and 7.6 pct higher than in March last year.
    Other data reported in the current account balance showed
there was a 400 mln mark deficit in supplementary trade items,
a 500 mln mark deficit in the services account and a 400 mln
mark deficit in transfer payments.
    The Statistics Office said that in the first three months
of this year the trade surplus had risen to 27.8 billion marks
from 22.6 billion marks in the same period last year.
    The current account surplus had risen to 20.0 billion marks
from 15.6 billion.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22080" NEWID="17376">
<DATE>29-APR-1987 05:09:58.42</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>adb-asia</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0260&#31;reute
u f BC-SOVIET-UNION-UNDECIDE   04-29 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>SOVIET UNION UNDECIDED ON ADB MEMBERSHIP</TITLE>
<DATELINE>    OSAKA, Japan, April 29 - </DATELINE><BODY>The Soviet Union's first official
observer at the Asian Development Bank (ADB) said he came away
from this week's ADB annual meeting with a favourable
impression but that no decision has been made on whether the
Soviet Union should join as a full member.
    Yurij V. Ponomarev, international managing director of the
State Bank, said he will file a formal report when he returns
to Moscow, but it will not contain any recommendation on
membership. "We haven't started any process with a view toward
membership," he said.
    Ponomarev downplayed the significance of his attendance,
saying it only signalled a slight change in attitude by Moscow.
Although this is the first time Moscow has attended the ADB's
annual meeting as an observer, Soviet bankers have come to
meetings in the past as guests, he said.
    Delegates here saw the Soviet move as part of an overall
strategy to strengthen ties with Asia and improve the
functioning of the Soviet economy.
    Ponomarev declined to comment on remarks yesterday by a
senior U.S. Official, who warned that Soviet membership in the
ADB would cause serious operational problems.
    "How would the ADB, for instance, use the (Soviet) rouble as
a basis for expanding its capital?" asked the U.S. Official, who
declined to be identified.
    Ponomarev said: "It is far too premature to speculate on the
potential difficulties that might be involved if we applied for
membership."
    In order to become a member, Moscow would have to gain the
backing of two-thirds of the board of governors representing
three-quarters of the voting power of member countries.
Washington has just over a 12 pct voting share.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22073" NEWID="17377">
<DATE>29-APR-1987 05:30:06.64</DATE>
<TOPICS><D>money-supply</D><D>reserves</D></TOPICS>
<PLACES><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0296&#31;reute
u f BC-TAIWAN-ISSUES-MORE-CD   04-29 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN ISSUES MORE CD'S AS RESERVES HIT RECORD</TITLE>
<DATELINE>    TAIPEI, April 29 - </DATELINE><BODY>The Central Bank issued 5.68 billion
Taiwan dlrs' worth of certificates of deposit (cd's), bringing
issues so far this year to 180.16 billion dlrs against 40
billion issued a year earlier, a bank spokesman said.
    The new cd's, with maturities of six months, one and two
years, bear interest of 4.03 to 5.12 pct.
    The issues are intended to help curb the growth of m-1b
money supply resulting from large foreign exchange reserves
which the bank said today had reached a record 56 billion U.S.
Dlrs.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22069" NEWID="17378">
<DATE>29-APR-1987 05:43:34.88</DATE>
<TOPICS><D>grain</D><D>corn</D></TOPICS>
<PLACES><D>taiwan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f0325&#31;reute
u f BC-TAIWAN-BUYS-81,000-TO   04-29 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN BUYS 81,000 TONNES OF U.S. MAIZE</TITLE>
<DATELINE>    TAIPEI, April 29 - </DATELINE><BODY>The joint committee of Taiwan's maize
importers awarded contracts to two U.S. Firms to supply two
shipments totalling 81,000 tonnes, a committee spokesman said.
    Continental Grain Co of New York won a contract for the
supply of 54,000 tonnes, priced at 96.17 U.S. Dlrs a tonne c
and f Taiwan for delivery between May 21 and June 5.
    Gulf Coast Grain Inc of Memphis, Tennessee, won a contract
for 27,000 tonnes at 100.75 dlrs a tonne also c and f Taiwan,
for May 21-June 5 delivery.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22067" NEWID="17379">
<DATE>29-APR-1987 05:47:25.94</DATE>
<TOPICS><D>income</D><D>ipi</D></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0331&#31;reute
u f BC-CHINA'S-WAGE-BILL-GRE   04-29 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA'S WAGE BILL GREW TOO FAST IN FIRST QUARTER</TITLE>
<DATELINE>    PEKING, April 29 - </DATELINE><BODY>China's total wage bill for state
employees grew too fast in the first quarter, because of
excessive bonuses, allowances and overtime pay, the official
Economic Information newspaper said.
    It said the total wage bill in the period was 38.7 billion
yuan, an increase of 16.7 pct over the first quarter of 1986,
when the bill grew a year-on-year 16.3 pct. The increase
accounted for 39.6 pct of planned wage rises in all of 1987.
    It said bonus payments rose a 42.6 pct, far in excess of
growth in productivity. Industrial output grew a 14.1 pct in
the period.
    The newspaper said state allowances rose in the period by
20 pct over the corresponding 1986 quarter, with some areas and
work units increasing coal and electricity allowances on their
own without proper authorisation.
    It said overtime pay rose a year-on-year 32 pct, with some
enterprises ignoring official regulations in their payments.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22066" NEWID="17380">
<DATE>29-APR-1987 05:49:58.85</DATE>
<TOPICS><D>meal-feed</D><D>tapioca</D><D>grain</D><D>barley</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0340&#31;reute
r f BC-WEST-GERMAN-TAPIOCA-U   04-29 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>WEST GERMAN TAPIOCA USE SEEN DECLINING</TITLE>
<DATELINE>    HAMBURG, April 29 - </DATELINE><BODY>West German use of tapioca is likely to
decline further despite favourable prices and import licences
for only 420,000 tonnes have been registered since the start of
the current agricultural year, compared with 640,000 tonnes
during August/April the previous year, trade sources said.
    The 12 European Community (EC) countries have licensed a
total of 4.22 mln tonnes, while at the same year-earlier period
the EC contracted for 3.17 mln tonnes, they said.
    The Netherlands is registering an increase in licences to
around 2.9 mln tonnes, up 400,000 tonnes from last year, they
said.
    Total EC tapioca imports during the current agricultural
year are expected to stagnate at last year's level of around
6.0 mln tonnes, the sources said.
    They reported a rise in consumption and in import licences
for France, Spain and Belgium but said the West German compound
feed industry was increasingly using grain in feed mixtures.
    Sellers quoted tapioca for nearby delivery at around 27
marks per 100 kilos against 37 marks in March and 34 marks in
April last year.
    Feed barley was quoted at about 42 marks per 100 kilos,
resulting in higher West German feed stuff prices, but demand
was seen as slack.
    The sources said the West German feed industry was trying
to help cut the grain surplus through increased use of grain in
feed mixtures.
    Other EC member countries are likely to take advantage of
the lower tapioca prices, they said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22081" NEWID="17381">
<DATE>29-APR-1987 05:50:05.89</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>adb-asia</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0341&#31;reute
u f BC-U.S.-CONCERNED-ABOUT   04-29 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. CONCERNED ABOUT INCREASED JAPAN VOTES AT ADB</TITLE>
<DATELINE>    OSAKA, Japan, April 29 - </DATELINE><BODY>Washington views with concern a
plan to increase Japan's voting power at the Asian Development
Bank (ADB), a U.S. Delegate at the bank's annual meeting said.
    Japan, which holds 15.1 pct of the ADB's capital stock, and
the U.S. Which holds 14.9 pct, currently have near-parity in
voting power.
    "The ADB was set up in 1966 as a partnership between the
U.S. And Japan," the official said. "Any change in that
relationship would transmit a psychological message to this
region's countries that there is a slackening of interest on
the part of the U.S."
    "We do not want any dilution of our influence in the
organisation," the U.S. Official added.
    He said an imbalance in procurement contracts awarded for
ADB-funded projects was however improving slowly.
    The U.S. Share of the contracts had grown from about seven
pct to about 12 pct in 1986, the official said, while Japan's
share had dropped from 25 pct to 20 pct.
    "We will urge more U.S. Businessmen to join in the bidding
for these projects," he said.
    The official said Washington was concerned about the ADB's
future role in the region.
    "The U.S. Believes the ADB should act as a catalyst both for
policy changes that will lead to sustainable, long-term
economic growth and for other financial flows," chief U.S.
Delegate Charles Dallara told the meeting earlier.
    "Economic reform should be a theme of the ADB's lending," the
unidentified U.S. Official said.
    "The bank is doing its borrowers a disservice by not
entering into policy dialogue," he added.
    "We are looking for the bank to take up the cudgel when its
borrowers are at a critical stage in their development. We are
looking at a 15 or 20 year horizon."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22110" NEWID="17382">
<DATE>29-APR-1987 06:01:22.34</DATE>
<TOPICS><D>reserves</D><D>dlr</D><D>money-fx</D></TOPICS>
<PLACES><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0363&#31;reute
u f BC-TAIWAN-CENTRAL-BANK-D   04-29 0120</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN CENTRAL BANK DEFENDS DOLLAR RESERVES POLICY</TITLE>
<DATELINE>    TAIPEI, April 29 - </DATELINE><BODY>Central Bank governor Chang Chi-cheng
defended Taiwan's policy of holding a large amount of its
foreign exchange reserves in U.S. Dollars, citing similar
policies followed by countries such as West Germany and Japan.
    The reserves, now a record 56 billion U.S. Dlrs, are the
world's largest after those of West Germany and Japan. About 90
pct is held in U.S. Dollars and the rest in yen and marks.
    Chang's remarks to parliament were in response to a call on
Monday by about 20 members of the parliament who asked the
government to diversify into other currencies, including yen,
marks and Swiss francs because of exchange rate losses.
    The legislators said the bank lost about 3.8 billion U.S.
Dlrs between September 1985 and September 1986 as the Taiwan
dollar rose to 36.77 to the U.S. Dollar from 40.45.
    They said they expected the losses to continue because of
the rising Taiwan dollar against the U.S. Currency.
    Chang said the central bank could not sell the U.S. Dollars
like other private banks or enterprises because such trading
would be speculative and risky.
    "The U.S. Dollar is an international currency and is widely
used among trading nations," he added.
    Chang said the Central Bank has further revised foreign
exchange rules, which would relax most controls or even suspend
them.
    The revised rules have been submitted to the cabinet for
approval, he said. He declined to give details.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22167" NEWID="17383">
<DATE>29-APR-1987 06:25:08.30</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>uk</D><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0393&#31;reute
u f BC-U.K.-TO-SUPPLY-WHEAT   04-29 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. TO SUPPLY WHEAT TO CHINA UNDER AID PROGRAM</TITLE>
<DATELINE>    LONDON, April 29 - </DATELINE><BODY>The U.K. Will ship 39,250 tonnes of feed
wheat to China this month as food aid at a cost to the British
aid program of 3.4 mln stg, the Overseas Development
Administration (ODA) said.
    The wheat will be supplied by grain exporter Ceres UK Ltd.
    As part of the European Community's obligation under the
Food Aid Convention, the U.K. Is pledged to supply 110,700
tonnes of cereals each year. From this commitment the U.K.
Makes allocations to the World Food Programme.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22062" NEWID="17384">
<DATE>29-APR-1987 07:46:16.86</DATE>
<TOPICS><D>jobs</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0561&#31;reute
r f BC-EC-UNEMPLOYMENT-FALLS   04-29 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>EC UNEMPLOYMENT FALLS BELOW 17 MLN IN MARCH</TITLE>
<DATELINE>    LUXEMBOURG, April 29 - </DATELINE><BODY>Unemployment in the European
Community fell in March to 16.8 mln from 17 mln in February
thanks to an improvement in the weather, the EC's statistics
agency Eurostat said.
    It said the number of jobless fell in all 12 Community
member states as weather conditions improved, though France,
Italy and Spain saw declines of less than one pct.
    There was also a particularly large drop in the number of
jobless under-25s in all states except Italy, where 19,300 more
young people were unemployed in March than in the month before.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22057" NEWID="17385">
<DATE>29-APR-1987 07:47:06.88</DATE>
<TOPICS><D>gnp</D><D>trade</D><D>cpi</D></TOPICS>
<PLACES><D>thailand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM M G C
&#22;&#22;&#1;f0564&#31;reute
r f BC-THAI-ECONOMY-TO-ACHIE   04-29 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>THAI ECONOMY TO ACHIEVE FIVE PCT GROWTH THIS YEAR</TITLE>
<DATELINE>    BANGKOK, April 29 - </DATELINE><BODY>Thailand's gross domestic product will
expand five pct this calendar year, up from 3.8 pct in 1986,
despite a projected slight decline in agricultural output due
to drought, the Bank of Thailand said.
    Central bank spokesman Siri Karncharoendi told reporters
the Thai economy clearly recovered in the first quarter from
the lingering effects of the 1984-85 recession.
    He said the industrial sector is expected to expand 5.5 pct
this year, up from five pct in 1986. Agricultural output is
projected to grow 2.8 pct after 1.5 pct contraction in 1986.
    He said January/March imports grew 19.2 pct to 70.7 billion
baht, in response to an improving domestic market, compared
with a nine pct decline to 59.3 billion a year ago. Non-oil
imports grew 24.8 pct to 60.2 billion baht while oil imports
declined 5.6 pct to 10.5 billion.
    First quarter exports increased 12.7 pct to 63.2 billion
baht compared with 14.4 pct and 56.1 billion a year ago.
    Siri said he expects the trade deficit to widen to about 30
billion baht this year from 17.4 billion in 1986. The current
account, which last year posted a surplus of 3.5 billion baht,
is projected to return to a 7.4 billion deficit in 1987.
    He said overall January/March lending by the Thai banking
system grew a strong nine pct to 577.9 billion baht, up from
4.7 pct growth in the previous quarter and 5.8 pct for the
whole of 1986.
    He said the Thai consumer price index rose 1.8 pct in the
first quarter, down from 2.3 pct a year ago, but added that
with the economy picking up, inflation is expected to rise to
2.5 pct this year from 1.9 pct for the whole 1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22050" NEWID="17386">
<DATE>29-APR-1987 08:01:47.21</DATE>
<TOPICS><D>oilseed</D><D>grain</D><D>veg-oil</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G T C
&#22;&#22;&#1;f0588&#31;reute
b f BC-EC-FARM-MINISTERS-END   04-29 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>EC FARM MINISTERS END PRICES MEETING STILL DIVIDED</TITLE>
<AUTHOR>    By Gerrard Raven, Reuters</AUTHOR>
<DATELINE>    LUXEMBOURG, April 29 - </DATELINE><BODY>European Community (EC) agriculture
ministers ended a three-day meeting in Luxembourg still deeply
divided over plans by the EC Commission to curb the cost of the
EC's farm policy through sharp cuts in farm returns.
    Their chairman, Belgium's Paul de Keersmaeker, told a news
conference after the meeting he would work on a paper setting
out possible compromise solutions in the next two weeks, with
the hope that the ministers can get down to detailed
negotiations at a meeting in Brussels on May 18.
    But diplomats said the talks this week had served little
more than to clarify member states' positions on the complex
package of measures proposed by the commission.
    The executive body has proposed measures which would result
in price cuts this year for many crops of upwards of 10 pct.
    Other controversial plans include a tax on EC-produced and
imported oilseeds and fats to bring in two billion European
currency units, to help the EC's cash crisis, and changes in
the conversion of EC common farm prices into national
currencies which would inflict extra burdens on West German and
Dutch farmers.
    De Keersmaeker attempted yesterday to narrow differences
between EC states on the oils tax proposal, the currency
measures and the key question of cereals prices and associated
measures.
    But he told journalists, "We have used this meeting to reach
the point at which real negotiations can start at the next
meeting. Ideally they should have started now but our
procedures took much longer than planned."
    Ministers are in theory supposed to agree a price package
by April 1 each year, although this target is seldom reached in
practice.
    Diplomats said on all the points there were widely
diverging views, with Britain and the Netherlands, the
countries most supportive of commission proposals for cereals
price cuts, strongly opposed to the oils tax.
    However, de Keersmaeker said West German objections to the
monetary proposals could prove the most difficult issue to
resolve. "This is a very tough political nut, and because of the
very nature of the problem there is no technical solution," he
said. Commission sources said farm commissioner Frans
Andriessen was prepared to alter some technical aspects of his
proposals to make an agreement easier.
    However, because of the EC's budgetary crisis, he had
little room for concessions to pleas for a cut in the impact of
his proposals on farmers' incomes as several ministers, led by
Germany's Ignaz Kiechle, are demanding.
    EC Commission president Jacques Delors has warned that the
EC will have an accumulated budgetary deficit of over five
billion Ecus by the end of this year, even if the commission
farm price package is adopted in its entirety.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22045" NEWID="17387">
<DATE>29-APR-1987 08:08:04.59</DATE>
<TOPICS><D>ship</D><D>iron-steel</D></TOPICS>
<PLACES><D>uk</D><D>venezuela</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f0612&#31;reute
d f BC-GREEK-BULK-CARRIER-AG   04-29 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>GREEK BULK ORE CARRIER AGROUND IN ORINOCO RIVER</TITLE>
<DATELINE>    LONDON, April 29 - </DATELINE><BODY>A Greek bulk carrier loaded with iron
ore has run aground in Venezuela's Orinoco river, Lloyd's
shipping services reports.
    The 74,596-dwt Andromachi is reported to have run aground
near mile 149 on Monday and attempts to refloat the vessel
using tugs has so far been unsuccessful, Lloyd's said.
    The Andromachi is managed by Theodore and Angelos
Efstathiou of Piraeus.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22044" NEWID="17388">
<DATE>29-APR-1987 08:36:16.68</DATE>
<TOPICS><D>acq</D><D>alum</D></TOPICS>
<PLACES><D>france</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f0718&#31;reute
u f BC-PECHINEY-TO-SELL-PART   04-29 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>PECHINEY TO SELL PART OF STAKE IN CANADA PLANT</TITLE>
<DATELINE>    PARIS, April 29 - </DATELINE><BODY>French state-owned aluminium and special
metals group Pechiney &lt;PUKG.PA> is planning to sell 25 pct of a
Canadian aluminium plant at Becancour to the U.S.'s Reynolds
Metals Co &lt;RLM.N> over the coming weeks, the company said.
     Pechiney currently holds a majority 50.1 pct stake in the
plant. The company also said it planned an agreement soon with
Italy's &lt;La Metalli Industriale>, a 57 pct owned subsidiary of
&lt;Societa Metallurgica Italiana> related to cupreous products.
No further details were available.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22051" NEWID="17389">
<DATE>29-APR-1987 09:07:37.92</DATE>
<TOPICS><D>veg-oil</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0819&#31;reute
u f BC-BELGIAN-MINISTER-TO-R   04-29 0134</UNKNOWN>
<TEXT>&#2;
<TITLE>BELGIAN MINISTER TO REVIEW EC OILS/FATS TAX PLAN</TITLE>
<DATELINE>    LUXEMBOURG, April 29 - </DATELINE><BODY>Belgian Agriculture Minister Paul de
Keersmaeker said he would review EC Commission proposals for a
tax on imported and EC produced vegetable oils and fats in the
light of objections made by certain EC member states.
    De Keersmaeker, current chairman of the EC farm ministers'
council, was speaking after a three-day meeting of ministers at
which the tax proposal was one of the key themes.
    He said he would review the position as part of plans to
present compromise proposals for the 1987/88 farm price package
to the next meeting, starting in Brussels on May 18.
    De Keersmaeker, who said there was "a great deal of
resistance in many delegations" to the tax, declined to say what
aspects of the proposals he would review.
    However, EC Commission sources said they are expected to
include the question of whether it should apply to marine oils.
    They said Denmark and Portugal might agree to the tax, to
be set initially at 330 Ecus a tonne, if these oils, of which
they are major producers, were excluded.
    The sources said, however, that Britain, the Netherlands
and West Germany continue to have strong objections to the tax,
partly because of fears that its impact on U.S. Soybean exports
could provoke transatlantic trade friction.
    They said that, if these three countries held firm to this
position, they would be able to block the proposal under the
EC's majority voting mechanism.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22042" NEWID="17390">
<DATE>29-APR-1987 09:39:27.58</DATE>
<TOPICS><D>hog</D><D>livestock</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C L
&#22;&#22;&#1;f0933&#31;reute
u f BC-slaughter-guesstimate   04-29 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>HOG AND CATTLE SLAUGHTER GUESSTIMATES</TITLE>
<DATELINE>    CHICAGO, April 29 - </DATELINE><BODY>Chicago Mercantile Exchange floor
traders and commission house representatives are guesstimating
today's hog slaughter at about 275,000 to 285,000 head versus
283,000 week ago and 312,000 a year ago.
    Cattle slaughter is guesstimated at about 125,000 to
128,000 head versus 124,000 week ago and 136,000 a year ago.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22040" NEWID="17391">
<DATE>29-APR-1987 09:45:10.87</DATE>
<TOPICS><D>lei</D><D>gnp</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f0948&#31;reute
r f BC-U.S.-INDEX-SAID-CONSI   04-29 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. INDEX SAID CONSISTENT WITH GROWTH FORECAST</TITLE>
<DATELINE>    WASHINGTON, April 29 -  </DATELINE><BODY>Robert Ortner, under secretary of
commerce, said last month's 0.4 pct rise in the Index of
Leading Indicators was consistent with growth of 3.0 pct this
year.
    He said in a statement that stock prices accounted for a
large share of the index's growth in the last six months.
    "Excluding stock prices, the rate of increase was still a
healthy 6.2 pct and is consistent with 3.0 pct or more overall
economic growth during 1987," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22039" NEWID="17392">
<DATE>29-APR-1987 10:21:28.80</DATE>
<TOPICS><D>tea</D><D>coffee</D></TOPICS>
<PLACES><D>kenya</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T
&#22;&#22;&#1;f1096&#31;reute
d f BC-KENYA'S-TEA-AND-COFFE   04-29 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>KENYA'S TEA AND COFFEE AREAS CONTINUE DRY</TITLE>
<DATELINE>    NAIROBI, April 29 - </DATELINE><BODY>Kenya's coffee and tea growing areas
remained generally dry for the second consecutive week, in the
period to April 28, weather and farming sources said.
    All areas east and west of the Rift Valley recorded below
25 mm of rain with western Kericho town having only 21 mm, they
said. Kericho, which last year received 387 mm in April last
year, has so far recorded only 176 mm and little rain is
forecast throughout the country in the next two days.
    Tea and coffee crops are doing well but farmers fear that
output will be low if the unusually dry spell continues. April
is normally the wettest month in Kenya.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22070" NEWID="17393">
<DATE>29-APR-1987 10:25:40.86</DATE>
<TOPICS><D>grain</D><D>corn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T
&#22;&#22;&#1;f1102&#31;reute
b f BC-SOVIET-SPRING-CROPS-S   04-29 0122</UNKNOWN>
<TEXT>&#2;
<TITLE>SOVIET SPRING CROPS SOWN ON ONLY 11 PCT OF LAND</TITLE>
<DATELINE>    ****MOSCOW, April 29 - </DATELINE><BODY>Soviet farmers had sown spring crops
on only 15.8 mln hectares or 11 pct of cultivated land by April
27, compared with 26.2 mln ha by April 21, 1986, Izvestia said.
    Grains and pulses (except maize) were sown on 6.7 mln ha,
compared with 13.1 mln at the same time last year, it added.
    Spring sowing is off to a slow start, with planting two to
four weeks behind schedule in many areas of the Ukraine,
Byelorussia and Russia, because the winter was unusually cold.
    Western agricultural experts believe the crop could still
be good but heavy winterkill will make it difficult to reach
the 1987 grain target of 232 mln tonnes. The 1986 crop was 210
mln.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22083" NEWID="17394">
<DATE>29-APR-1987 10:54:30.74</DATE>
<TOPICS></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>oecd</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1240&#31;reute
r f BC-WORLD-ECONOMIC-CONVER   04-29 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>WORLD ECONOMIC CONVERGENCE VITAL, OECD ENVOY SAYS</TITLE>
<DATELINE>    THE HAGUE, April 29 - </DATELINE><BODY>It is vitally important that the
industrialised countries of the world work towards convergence
of their economies and economic policies, U.S. Ambassador to
the Organisation for Economic Cooperation and Development
Edward Streator said.
    He told an American Chamber of Commerce lunch the world was
changing rapidly and national attitudes had to alter
accordingly if growth was not to falter and world depression
set in.
    Liberalisation of world trade in money, goods and services
and technology was an overriding goal, he added.
    World financial flows were now 12 times as large as
traditional trade flows, the importance of commodities was
declining rapidly, countries such as those on the Pacific Rim
were becoming major growth areas, and the labour element in
manufacturing was declining sharply, Streator said.
    All these factors were creating major social and economic
pressures and demanding a rapid reassessment of traditional
attitudes, he added.
    "Agriculture is a prime target for change.One of the first
things we must do is disconnect farm subsidies from production,"
Streator said.
    At an OECD ministerial meeting in two weeks time there
would be an attempt to agree global principles to help reduce
this major agricultural problem, Streator said.
    "However, of equal and vital importance in reducing the
world's dangerous slide towards protectionism will be the
outcome of the new round of talks under the General Agreement
on Tariffs and Trade (GATT)," Streator added.
    Dutch finance minister Onno Ruding, who also spoke briefly
at the lunch, stressed the importance of coordinating national
policies and of the GATT talks in preventing a rapid decline
into bilateralism and global protectionism.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22037" NEWID="17395">
<DATE>29-APR-1987 11:00:47.87</DATE>
<TOPICS><D>money-fx</D><D>sfr</D><D>money-supply</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1262&#31;reute
u f BC-SWISS-PREPARED-TO-INC   04-29 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>SWISS PREPARED TO INCREASE CURRENCY INTERVENTION</TITLE>
<DATELINE>    LIESTAL, Switzerland, April 29 - </DATELINE><BODY>The Swiss National Bank is
prepared to increase its intervention on currency markets if
the action can be properly coordinated with other central
banks, Markus Lusser, a member of the Bank's three man
directorate, said.
    He told a meeting of Swiss industrialists that intervention
to support the dollar could not bring about lasting changes in
exchange rates unless accompanied by fundamental changes in
economic policy.
    However, intervention could send signals that would
contribute to a short term smoothing of currency movements.
    The National Bank was prepared to intensify cooperation
with other central banks, especially where convincing
coordination and significant timing are guaranteed, Lusser
said.
    He said currency developments could not simply be talked
into existence but needed to be matched by actions in the field
of economic policy.
    "Put simply, that means that in order to stabilise the
dollar in a lasting way, a reduction of the budget deficit and
a slowdown in money supply growth in the United States are
unavoidable," he said.
    The National Bank has intervened in dollar-yen repeatedly
in the last few weeks and earlier this week it said it had
intervened in dollar-Swiss franc for the first time since last
October.
    Lusser said the key to increased exchange rate stability
lay not in currency intervention by central banks but only in
an improvement in international economic policy coordination.
    This meant that industrial countries must avoid abrupt
switches in economic policy and give priority to price
stability.
    Lusser said the National Bank continued to take the view
that easing its strict monetary policies would be incompatible
with its primary goal of combatting inflation. The bank target
is for growth of two pct in central bank money supply in 1987.
    He noted that in 1978, when the Swiss franc rose sharply
against all currencies, the bank was forced to abandon its
money supply targets in favour of an exchange rate target, with
the result that inflation surged.
    "Current exchange rate developments have not, until today at
any rate, made any such measures by the National Bank
necessary," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22036" NEWID="17396">
<DATE>29-APR-1987 11:05:19.31</DATE>
<TOPICS><D>money-fx</D><D>dmk</D><D>interest</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1294&#31;reute
u f BC-LOWER-MARK-RATE-SPECU   04-29 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>LOWER MARK RATE SPECULATION NOT SHARED IN GERMANY</TITLE>
<AUTHOR>    By Jonathan Lynn, Reuters</AUTHOR>
<DATELINE>    FRANKFURT, April 29 - </DATELINE><BODY>Speculation abroad that the
Bundesbank will steer money market rates lower, opening the
for interest rate cuts around Europe, is not shared by many
economists and money market dealers within Germany.
    Speculation has developed that the Bundesbank would
engineer lower rates to take pressure off the dollar/mark.
    A strong rise in U.S. Market rates this month, prompting
speculation the Fed would raise its 5-1/2 pct discount rate,
has raised the question whether Germany and Japan would also
broaden interest rate differentials to support the dollar.
    The U.S.-Japanese trade dispute is the key to the interest
rate outlook, money market dealers in Paris said.
    Talks this week between Japanese Prime Minister Yasuhiro
Nakasone and President Reagan, if successful, could take
pressure off the dollar, dealers and economists said.
    Short term interest rates would be likely to ease if the
trade dispute is solved and the dollar steadies, they said.
    But if no solution is found, the Paris dealers said, a
renewed dollar fall would put strains on the mark/French franc
rate and force the Bank of France to raise short-term rates.
    The three-month U.S. Treasury bill rate rose to six pct
this week from 5.6 pct at the start of April, and the yield on
the 30-year benchmark treasury bonds rose this week in Tokyo to
a 14-month high of 8.86 pct from 7.66 pct in late March.
    The dollar stabilized today just below 1.80 marks and above
140 yen, underpinned by higher U.S. Rates and the Fed discount
rate speculation.
    But most dealers expect it to weaken further, which would
put pressure on the Bundesbank to ease interest rates.
    Japanese Finance Minister Kiichi Miyazawa said yesterday
the U.S. Had requested Japan to cut short-term interest rates.
    The Bank of Japan was making efforts to do this, he said,
adding the U.S. Had not asked for a cut in Japan's 2.5 pct
discount rate, a move which Bank of Japan Governor Satoshi
Sumita said was not under consideration.
    A call for a German move came yesterday from Dutch central
bank president Wim Duisenberg, who said the Dutch central bank
favoured a cut in West German interest rates and would follow
suit if it happened.
    Citibank AG said in its April report that another expected
phase of dollar weakness would prompt the Bundesbank to cut key
money market rates in the next three to six months.
    The Bundesbank has set a fixed rate of 3.80 pct on
repurchase pacts since February, with call money trading around
3.70 pct for much of April.
    Phillips and Drew senior European economist Richard Reid
said the Bundesbank would allow interest rates to ease further,
either with a lower fixed rate tender, or a tender by interest
rate, allowing the market to set the rate.
    "I'm fairly confident we'll see lower rates," he said.
    Reid said taking 30 basis points off the repurchase rate
would have little impact on the German economy or fundamental
exchange rates, but could change market currency perceptions.
    "A cut in German rates wouldn't be bad for the dollar, but I
think its effect would be limited in duration unless it was
accompanied by other measures elsewhere," he said.
    Money market dealers here noted the speculation abroad that
the Bundesbank would push down repurchase rates, but said the
Bundesbank had little reason to cut rates further at the
moment, despite the liquid market seen for most of this month.
    The dealers said the Bundesbank was likely to move to an
interest rate tender for its repurchase pacts next month. That
should not be seen as a sign of easing monetary policy however,
they said.
    The Bundesbank would merely be experimenting with interest
rate tenders, following the introduction of a new system to
speed up the tender process at the start of April, they said.
    Reinhard Pohl, head of the monetary policy section at the
DIW economic research institute in West Berlin, said the
Bundesbank would probably not cut rates on repurchase pacts.
    "I don't think that if they cut the repurchase rate a little
it would stop a wave of (currency) speculation," he said. But a
sharp and sudden deterioration in the dollar could force the
Bundesbank to take some action, he said.
    Pohl said the Bundesbank was concerned that a cut in
interest rates would accelerate excessive monetary growth.
    Some Bundesbank officials have argued recently that the
monetary overshoot was due to strong currency inflows rather
than credit growth, and therefore a more appropriate response
to excessive money supply growth would be to cut rates, to make
the mark and mark investments less attractive.
    Pohl said the Bundesbank was hoping that domestic investors
would switch funds parked in liquid short-term accounts, which
have swollen central bank money stock, into securities, which
would take them out of the Bundesbank's key monetary measure.
    A cut in interest rates at this stage however would lead
investors to assume that rates had bottomed out and the next
move would be upwards. They would therefore hold off buying
bonds, leaving central bank money stock swollen.
    There are so far no signs that German investors are
switching funds into long term securities as the Bundesbank
hopes they will, Berliner Handels- und Frankfurter Bank
economist Hermann Remsperger said.
    But Phillips and Drew's Reid said prospects of lower rates
and a strong currency would attract foreign investors into
German bonds, which would in turn attract domestic investors.
    Werner Rein, chief economist at Union Bank of Switzerland
in Zurich, said he thought it likely that interest rates would
continue to drift lower in many European countries.
    "The scope for lower rates is probably greatest in Britain
but more limited in West Germany, where we could see some
consolidation," he said. Switzerland could be forced to match
any cut in German rates to prevent the franc rising further
against the mark, he said.
    Currency dealers in London said another half-point cut in
U.K. Bank base rates was likely in the next few weeks as the
pound had shrugged off yesterday's cuts and was still rising.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22038" NEWID="17397">
<DATE>29-APR-1987 11:13:25.08</DATE>
<TOPICS><D>money-fx</D><D>sfr</D><D>money-supply</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f1345&#31;reute
r f BC-SWISS-PREPARED-TO-INC   04-29 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>SWISS PREPARED TO INCREASE CURRENCY INTERVENTION</TITLE>
<DATELINE>    LIESTAL, Switzerland, April 29 - </DATELINE><BODY>The Swiss National Bank is
prepared to increase its intervention on currency markets if
the action can be properly coordinated with other central
banks, Markus Lusser, a member of the Bank's three man
directorate, said.
    He told a meeting of Swiss industrialists that intervention
to support the dollar could not bring about lasting changes in
exchange rates unless accompanied by fundamental changes in
economic policy.
    However, intervention could send signals that would
contribute to a short term smoothing of currency movements.
    The National Bank was prepared to intensify cooperation
with other central banks, especially where convincing
coordination and significant timing are guaranteed, Lusser
said.
    He said currency developments could not simply be talked
into existence but needed to be matched by actions in the field
of economic policy.
    "Put simply, that means that in order to stabilise the
dollar in a lasting way, a reduction of the budget deficit and
a slowdown in money supply growth in the United States are
unavoidable," he said.
    The National Bank has intervened in dollar-yen repeatedly
in the last few weeks and earlier this week it said it had
intervened in dollar-Swiss franc for the first time since last
October.
    Lusser said the key to increased exchange rate stability
lay not in currency intervention by central banks but only in
an improvement in international economic policy coordination.
    This meant that industrial countries must avoid abrupt
switches in economic policy and give priority to price
stability.
    Lusser said the National Bank continued to take the view
that easing its strict monetary policies would be incompatible
with its primary goal of combatting inflation. The bank target
is for growth of two pct in central bank money supply in 1987.
    He noted that in 1978, when the Swiss franc rose sharply
against all currencies, the bank was forced to abandon its
money supply targets in favour of an exchange rate target, with
the result that inflation surged.
    "Current exchange rate developments have not, until today at
any rate, made any such measures by the National Bank
necessary," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22168" NEWID="17398">
<DATE>29-APR-1987 11:15:53.85</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>usa</D><D>zaire</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1360&#31;reute
u f BC-CCC-ACEPTS-BONUS-BID   04-29 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>CCC ACEPTS BONUS BID ON WHEAT TO ZAIRE - USDA</TITLE>
<DATELINE>    WASHINGTON, April 29 - </DATELINE><BODY>The Commodity Credit Crporation has
accepted a bid for an export bonus to cover the sale of 8,000
tonnes of hard red winter wheat to Zaire, the U.S. Agriculture
Department said.
    The wheat is scheduled for shipment May 11-June 11, 1987,
the department said.
    The bonus, to Continental Grain Co, was 32.55 dlrs per
tonne and will be paid in the form of commodities from CCC
stocks.
    An additional 7,000 tonnes of wheat are still available to
Zaire under the Export Enhancement program initiative announced
on October 17, 1986, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22118" NEWID="17399">
<DATE>29-APR-1987 11:30:03.51</DATE>
<TOPICS><D>livestock</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;L
&#22;&#22;&#1;f1414&#31;reute
d f BC-USDA-PROGRAM-TO-FIGHT   04-29 0135</UNKNOWN>
<TEXT>&#2;
<TITLE>USDA PROGRAM TO FIGHT SCREWWORMS IN LIVESTOCK</TITLE>
<DATELINE>    WASHINGTON, April 29 - </DATELINE><BODY>Sterile screwworm flies will be
released this weekend in Miami, Florida, and Albuquerque, New
Mexico, to combat a potential outbreak of screwworms, a serious
pest of livestock, the Agriculture Department said.
    The action follows identification April 21 of screwworm
larvae in a hunting dog which passed through airports in Miami
and Albuquerque while being returned to the United States from
Venezuela, it said.
    Sexually sterilized screwworm flies will be released twice
a week for six weeks in an effort to eradicate any breeding
populations of the flies.
    Adult femals usually mate only once in their lifetime and
eggs resulting from matings between sterile and fertile flies
will not hatch, thus ending the life cycle, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22034" NEWID="17400">
<DATE>29-APR-1987 11:33:50.14</DATE>
<TOPICS><D>wpi</D></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1433&#31;reute
u f BC-DUTCH-PRODUCER-PRICES   04-29 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>DUTCH PRODUCER PRICES RISE 0.3 IN JANUARY</TITLE>
<DATELINE>    THE HAGUE, April 29 - </DATELINE><BODY>The index of Dutch producer prices of
finished and intermediate goods rose 0.3 pct in January to a
provisional 112.1, base 1980, against 111.8 in December 1986,
Central Bureau of Statistics figures show.
    The January figure was 4.7 pct below the January 1986
figure of 117.6. In December 1986, the index showed a 5.7 pct
year-on-year decline.
    The Bureau said earlier this week it had run into delays in
processing producer price statistics for recent months.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22041" NEWID="17401">
<DATE>29-APR-1987 12:11:41.17</DATE>
<TOPICS><D>lei</D><D>gnp</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1627&#31;reute
u f BC-/U.S.-MARCH-LEADING-I   04-29 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. MARCH LEADING INDEX SIGNALS MODEST GROWTH</TITLE>
<AUTHOR>    by Kathleen Hays, Reuters</AUTHOR>
<DATELINE>    NEW YORK, April 29 - </DATELINE><BODY>A 0.4 pct rise in the March U.S. index
of leading indicators points to continued moderate U.S. real
economic growth, economists said.
    "The report is consistent with a modestly growing economy,"
said Steve Slifer of Lehman Government Securities Inc. "The
economy is not robust, but we're not heading into a recession
either."
    "The report suggests more of the same: continued moderate
growth," said Ward McCarthy of Merrill Lynch Government and Co
Inc. "The gain was mostly in stock prices. There was no change
in the fundamental movement of the economy."
    The Commerce Department said that higher stock prices led
the March gain. Unemployment claims, vendor performance,
contracts and orders for plant and equipment, manufacturers'
orders, and building permits also were positive.
    The average workweek, raw materials prices, and money
supply detracted from the index.
    Economists noted that the index signals the direction but
not the magnitude of changes in gross national product.
    "You can't derive profound conclusions on the economy from
the report," McCarthy said. "The link between leading
indicators and the economy is not strong."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22058" NEWID="17402">
<DATE>29-APR-1987 12:13:25.22</DATE>
<TOPICS><D>gnp</D><D>cpi</D><D>bop</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE><D>lawson</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1637&#31;reute
u f BC-U.K.-ECONOMY-STRONGER   04-29 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. ECONOMY STRONGER THAN AT BUDGET, LAWSON SAYS</TITLE>
<DATELINE>0    LONDON, April 29 - </DATELINE><BODY>The U.K. Economy looks stronger than it
did only last month, when the government unveiled its budget
for fiscal 1987/88, Chancellor of the Exchequer Nigel Lawson
said.
    He told Parliament that "all the indicators that have been
published since the budget confirm that, if anything, we are
doing even better than I suggested then." The budget was
unveiled on March 17.
    "The PSBR (Public Sector Borrowing Requirement) has come out
lower than I forecast in the Budget. Inflation, too, is lower
than I suggested ... (and) the current account of the balance
of payments is also performing better, so far, than I
predicted."
    The budget foresaw inflation easing to 4.0 pct at the end
of this year after peaking at around 4.5 pct. Lawson said at
the time that the overall 1986/87 PSBR would be around 4.0
billion stg. It was in fact lower, at 3.3 billion stg.
    He had also projected average GDP growth in calendar 1987
of 3.0 pct after 2.5 pct in 1986. Lawson today said "output
appears to be rising, if anything, rather faster."
    Speaking during a House of Commons debate, he said, "by the
end of this year we will have registered the longest period of
steady growth, at close to 3.0 pct a year, that the British
economy has known since the (Second World) War."
    The 1987/88 budget contained a proposal to cut the basic
rate of taxation by two pence, to 27 pence in the pound.
    Lawson today reaffirmed that the government aimed to
further cut the standard rate to "no more than 25p." He said that
that objective "should not take too long to achieve."
    Turning to policies proposed by political opposition
parties, Lawson said those advocated by the Labour Party would
entail extra public expenditure of some 34 billion stg.
    That, he said, "would require either a doubling of the basic
rates of income tax or more than trebling the standard rate of
(valued added tax) VAT," which is currently 15 pct.
    On value added tax, Lawson noted that the Conservative
government promised back in 1984 not to extend VAT to food.
    "Beyond that, the incidence of taxation has to be determined
in the light of the budgetary needs at the time, and no
responsible government could conceivably take any other
position," he said. Labour MPs have accused the Conservatives of
planning VAT increases for some essential consumer goods.
    Lawson reiterated his belief that reductions in taxation
can often produce higher, not lower, revenues  "thus leading to
the scope for still further reductions in taxation."
    Lawson said "inheritance tax is expected this year to yield
almost 50 pct more in real terms than Capital Transfer Tax did
in 1978-79. The yield of Capital Gains Tax is forecast to be 80
pct higher in real terms, and Stamp Duty up by 140 pct."
    He said that "the greatly increased yield of Corporation
Tax, reflecting greatly increased company profitability, is
clearly connected with the reform of Corporation Taxation I
introduced in 1984, which brought the rate of tax on company
profits in this country to the lowest in the industrialised
world."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22090" NEWID="17403">
<DATE>29-APR-1987 12:54:50.57</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>iraq</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f1813&#31;reute
u f BC-IRAQ-REPORTS-MERCHANT   04-29 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>IRAQ REPORTS MERCHANT SHIP HIT IN THE GULF</TITLE>
<DATELINE>    BAGHDAD, April 29 - </DATELINE><BODY>Iraqi warplanes attacked and hit a
large "naval target" -- Baghdad's term for a tanker or merchant
vessel -- in the Gulf today, an Iraqi military spokesman said.
    He said the raid took place off the Iranian coast at 0600
gmt and all aircraft returned safely to base.
    Lloyds Shipping Intelligence earlier today said the Greek
bulk carrier Pamit, 84,137 tonnes dw, was attacked and hit in
the engine room this morning in the northern Gulf.
    It said all the crew were safe and tugs were heading to aid
the ship.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22105" NEWID="17404">
<DATE>29-APR-1987 12:56:39.43</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>amex</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1824&#31;reute
r f BC-AMEX-STARTS-TRADING-A   04-29 0036</UNKNOWN>
<TEXT>&#2;
<TITLE>AMEX STARTS TRADING AMERICAN LAND CRUISERS &lt;RVR></TITLE>
<DATELINE>    NEW YORK, April 29 - </DATELINE><BODY>The &lt;American Stock Exchange> said it
has started trading the common stock of American Land Cruisers
Inc, which had traded on the NASDAQ system.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22132" NEWID="17405">
<DATE>29-APR-1987 13:00:37.03</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D><D>venezuela</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f1853&#31;reute
d f BC-ENERGY/HEAVY-OILS--(p   04-29 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>ENERGY/HEAVY OILS</TITLE>
<AUTHOR>    By SUSAN SHERER, Reuters</AUTHOR>
<DATELINE>    HOUSTON, April 29 - </DATELINE><BODY>The oil price collapse of 1986 put
development of a vast petroleum resource -- heavy and extra
heavy oils -- on hold. But as oil prices increase the long-term
economic outlook is favorable, oil industry experts said.
    "Estimated potential world reserves of extra heavy oils
exceed 500 billion barrels, of which more than half are located
in Venezuela," Juan Chacin Guzman, President of Petroleos de
Venezuela told the World Petroleum Congress.
    "And this virtually unused resource represents a prime
example of the need to invest in technology to ensure
tomorrow's energy future," he added.
    Venezuela had to reduce heavy crude oil output in favor of
light oils because of economics and a very limited market. Not
many refineries have been upgraded to process the heavy oils.
    "Improved technology has the potential for reducing the
capital investment and operating costs of typical heavy oil
development projects by 30 pct or more," Gordon Willmon, VP and
general manager, oil sands and coal department, Esso Resources
Canada Ltd said at the World Petroleum Congress.
    Crude oil prices fell under 10 dlrs dlrs a barrel last
summer as OPEC members increased production to gain market
share, but have since risen to around 18 dlrs because the  OPEC
production/pricing agreement is basically in tact.
    Willmon said light and medium crude oils currently supply
90 pct of world oil demand yet they account for less than 25
pct of remaining petroleum resources.
    "So future demand increasingly will be met from the various
forms of heavy oil," Willmon said. Heavy crude oil resources
include extra-heavy oil/tar sand, natural bituminous sands and
oil shales (in sedimentary rock).
     Willmon cited major factors that will make heavy oil
development economical, including real and stable growth in
crude oil prices, favorable fiscal terms, and improved
technology.
    He said he expects "all pieces of the puzzle to fit
together." But he cautioned that the short-term outlook is very
sensitive to crude oil prices. And he said the most important
factor in development of heavy oils is the recovery of the
price of crude.
    Willmon said the price of light crude must be about eight
dlrs higher than heavy crude before there is an incentive for
an oil company to upgrade its refinery to process heavy oil.
    He said the current price differential is only about five
dlrs a barrel.
    Willmon indicated that a benchmark crude oil price above 20
dlrs would be ideal. But he said currently under study are a
broad range of high potential cost-effective technologies for
resources recovery, transportation and upgrading of heavy oils,
which would permit commercial development despite a lower crude
oil price outlook.
    Willmon said these technologies included enhanced recovery
by steam injection and oil-and-water emulsion to reduce the
viscocity of the heavy oils so they can flow easily through a
pipeline. He said such technologies may substantially reduce
current captial investment and operating costs.
    But he emphasized that innovative technology alone may not
encourage new investment, that oil prices need to show a
meaningful and sustained recovery.
   Most of the expenses associated with heavy oils production
is fixed operating costs as in an oil sands project, rather
than in exploration, according to Robert Smith, Senior VP
Operations &lt;Syncrude Canada Ltd>.
    While exploration costs for conventional crude oil range
from four to nine dlrs a barrel, discovery costs for synthetic
crude from oil sands are nearly zero because the location and
nature of the deposit are known, according to Smith.
    But the remote location of oil sands deposits mean that
everything required to build and operate the plant must come
from outside the area.
    Willmon also said, "Public policy could best help by
providing financial support to offset the high cost of
technology developmemt which would help generate projects that
could survive even at low oil prices for extended periods of
time."
    U.S. Energy Secretary John Herrington said, "The Reagan
Administration is firmly committed, without equivocation, to
continuing our efforts to improve conditions and incentives in
the marketplace that will spur oil and gas exploration and
development."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22145" NEWID="17406">
<DATE>29-APR-1987 13:01:29.10</DATE>
<TOPICS><D>gnp</D></TOPICS>
<PLACES><D>france</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1862&#31;reute
r f BC-ECONOMIST-SEES-SLOWDO   04-29 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>ECONOMIST SEES SLOWDOWN IN U.S. ECONOMIC GROWTH</TITLE>
<DATELINE>    PARIS, April 29 - </DATELINE><BODY>The U.S. Economy has peaked and will slow
to a growth rate of between 2.5 pct and three pct for the
remainder of 1987, First Boston Corp Managing Director Albert
Wojnilower said.
    He told an investment conference the U.S. Economy will not
be able to sustain the 4.3 pct growth rate recorded in first
quarter gross national product.
    He said continued intermittent attacks on the U.S. Currency
could lead to a substantial rise in long term interest rates.
However, he predicted that rates will eventually decline either
in anticipation of a recession or because of one.
  REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22031" NEWID="17407">
<DATE>29-APR-1987 13:18:04.43</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>nasdaq</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f1941&#31;reute
d f BC-SEC   04-29 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>SEC OKAYS MIDWEST STOCK TRADING OF OTC ISSUES</TITLE>
<DATELINE>    WASHINGTON, April 29 - </DATELINE><BODY>The Securities Exchange Commission
decided to allow the Midwest Stock exchange to trade 25 stocks
currently listed on the National Securities Dealers Association
Automated Quotation, NASDAQ, system.
    The SEC's unanimous decision granting so-called unlisted
trading privileges to the 25 NASDAQ securities will allow the
Midwest Exchange to begin trading the issues by May 18 under a
one-year pilot program.
    Unlisted trading privileges allow trading of stocks on an
exchange other than the one on which the stocks are listed.
    Before it would approve the Midwest Exchange request for
the unlisted trading privileges, the SEC had insisted that it
and the National Association of Securities Dealers, NASD, come
up with a way of reporting and combining information on stock
prices and transactions.
    SEC officials said they needed to be assured that 
information on the trading in and price of the securities would
be in one place, for accuracy and consistency.
    But since the exchanges still have not come with a master
plan, the SEC approved an interim plan under which NASDAQ
terminals would be put on the Midwest Exchange floor.
    All trades in the 25 over the counter securities done on
the Midewest Exchange will be quoted in the NASDAQ system as
well as on the Midwest Exchange under the interim plan.
    The NASD, Midwest Exchange and several other exchanges have
said they are working on a master plan for consolidating the
reporting of price quotes and other information on stocks now
traded on NASDAQ and listed on one or more exchanges.
    But an SEC official said such a new master reporting system
is not expected to be in place until early next year. The
Midwest Exchange proposed the interim reporting plan so that it
can begin unlisted trading immediately, he said.
    The 25 securities to be traded on the Midwest Exchange are
the first over the counter securities to be traded on any
exchange besides the NASDAQ. Some issues listed on exchanges,
however, are traded on the NASDAQ.
    The 25 securities had an average dollar volume last year of
2.4 billion dlrs and made up 18 pct of the dollar volume of all
the securities quoted on the NASD's National Market System.
    SEC officials said they would review the pilot program in
about a year. It was intended to spur more competition in the
securities industry.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22133" NEWID="17408">
<DATE>29-APR-1987 13:34:29.62</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f2026&#31;reute
u f BC-OIL-IMPORT-FEE-BILL-I   04-29 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>OIL IMPORT FEE BILL INTRODUCED IN U.S. HOUSE</TITLE>
<DATELINE>    WASHINGTON, April 29 - </DATELINE><BODY>A bill that would impose an oil
import fee to support a world floor price for oil of 25 dlrs a
barrel was introduced in the U.S. House of Representatives by
12 Congressmen from oil-producing states.
    The variable import fee would be dropped if oil prices rise
above 25 dlrs a barrel, sponsors of the bill said.
    Revenues from the fee would be used to buy domestic oil
from stripper wells - those that produce 10 barrels a day or
less - at a fixed price of 25 dlrs a barrel. Purchases would
stop when prices rose above that level.
    "Time is running out on the domestic oil and gas industry,"
Rep. Joe Barton, R-Texas, said in a statement. "An oil import
fee is really just the premium for a national insurance
policy."
    President Reagan opposes an oil import fee, but supporters
of the bill said they hoped for action on it before the end of
the year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22022" NEWID="17409">
<DATE>29-APR-1987 13:42:34.64</DATE>
<TOPICS><D>fuel</D><D>heat</D><D>jet</D><D>gas</D><D>money-fx</D></TOPICS>
<PLACES><D>egypt</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>imf</D><D>worldbank</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2050&#31;reute
u f BC-EGYPT-FUEL-PRICE-INCR   04-29 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>EGYPT FUEL PRICE INCREASES PART OF REFORM PACKAGE</TITLE>
<AUTHOR>    By John Rogers, Reuters</AUTHOR>
<DATELINE>    CAIRO, April 29 - </DATELINE><BODY>Egypt has embarked on reforms sought by
the International Monetary Fund (IMF) and the World Bank by
raising the price of diesel oil and other types of transport
fuels.
    The energy price increases were the first visible measures
taken in return for IMF standby credits and World Bank loans.
    Effective today, fuel oil prices were trebled and prices of
gas oil, diesel and kerosene went up by over 50 pct, an
Egyptian General Petroleum Corp (EGPC) official said. He said
fuel oil will sell for 28 Egyptian pounds a ton, instead of 7.5
pounds.
    Kerosene and gas oil were raised by 66 pct to sell for five
piasters a litre, while diesel rose 50 pct to 4.5 piasters.
    The government is expected also to act soon, possibly as
early as next weekend, to simplify the country's complex
exchange rate system, bankers said.
    Moving towards a more realistic exchange rate for the pound
was part of a package of reforms sought by the IMF and creditor
governments. In return, Egypt stands to receive up to one
billion dlrs in IMF standby credits phased over three years to
help it repay its 38.6 billion dlr foreign debt and guarantee
rescheduling by western governments, the main creditors.
    Energy price increases were also a condition of progress on
World Bank project loans of up to 800 mln dlrs in energy,
communications and other sectors which have been under
negotiation for several months, western diplomats said.
    The U.S. And Western Europe have pledged political backing
for President Hosni Mubarak's government, committed to a
multi-party political system and peace with Israel and
strategically poised in control of the Suez Canal.
    Fuel price rises, postponed at least once and likely to
lead to higher retail prices of basic goods, were a test of the
government's resolve to pursue economic reform, diplomats said.
    But the new prices are still below world market levels.
    There was no announcement of increases in more politically
sensitive products such as gasoline or natural gas, used for
cooking, and the mass-circulation Al-Akhbar newspaper said they
would stay the same.
    Official comment was not available on speculation among
bankers and diplomats that the Central Bank would soon tinker
with the pound's exchange rates to try to channel more dollars
into the banking system away from the illegal but tolerated
free market.
    The Central Bank was expected to set up a committee in
which 10 commercial banks, including the four state-owned
banks, would decide the pound's value every day.
    The official "incentive rate," currently set by the Central
Bank daily, is around 1.36 pounds to the dollar, against 2.15
on the free market.
    Bankers predicted that the banks' committee might set rates
around 1.80 or 1.90. But some doubted this would serve the aim
of curbing the free market.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22125" NEWID="17410">
<DATE>29-APR-1987 13:56:12.87</DATE>
<TOPICS><D>nat-gas</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E Y
&#22;&#22;&#1;f2078&#31;reute
r f BC-NORTH-AMERICAN-GAS-MA   04-29 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>NORTH AMERICAN GAS MARKET RECOVERY YEARS AWAY</TITLE>
<AUTHOR>    By RUSSELL BLINCH, Reuters</AUTHOR>
<DATELINE>    CALGARY, Alberta, April 29 - </DATELINE><BODY>Better times for the hard hit
natural gas industry remains two to three years away as a
seemingly intractable supply bubble continues to depress sales
and prices, industry officials said.
    An uncertain regulatory environment, disputes over Canadian
pricing policies and unusually warm winters are working against
a quick recovery in the sector, a number of corporate and
government speakers told an energy conference here.
    "We see a tough, tough short-term market, both as to price
and volume," said Michael Phelps, vice president of &lt;Westcoast
Transmission Co Ltd>, a major Canadian natural gas carrier.
    But Phelps predicted a fall in U.S. supply -- caused by a
sharp drop in exploration -- and a slight demand increase
should help to burn off the excess supply by 1990.
    As a result, Canadian gas exports to the U.S. market should
rise to up to 1.5 trillion cubic feet a year by the end of the
decade, nearly double 1986's total.
    The health of the Canadian industry is heavily dependent on
the U.S. market where nearly one third of Canada's gas
production is sent.
    Cuba Wadlington, a vice president at Northwest Pipeline
Corp of Salt Lake City, shared the view that markets could be
in balance by 1990.
    He said while North American demand for natural gas has
flattened at about 18 trillion cubic feet a year, a return to
more colder winters in the next few years could quickly tighten
supplies.
    "Things are clearly working towards a shrinking of the
bubble," Wadlington told Reuters in an interview.
    However, recent decisions by the U.S. Federal Energy
Regulatory Commission (FERC) were sharply criticized by
Canadian delegates who suggested the moves could prevent the
country from participating in the market's recovery.
    The key dispute, known as the as billed issue, involves a
ruling last December by FERC which effectively bars U.S.
pipeline companies and consumers from paying certain Canadian
shipping expenses.
    The Canadian government believes the ruling could severely
weaken the country's gas producers. "Besides the
extra-territorial effect, there is the potential that Conadian
producers and consumers may end up subsidizing the cost of
transportation services originally incurred on behalf of U.S.
customers," said Robert Skinner, an assistant deputy minister in
Canada's energy department.
    But FERC Chairman Martha Hesse told the conference the
ruling was really intended "to assure equal, fair and open
competition in the pricing of natural gas sold within our
country -- whatever the source of the gas."
    Hesse maintained Canadian gas was crucial to the emergence
of a freely competitive, continent-wide, energy market.
    Speaking to concerns in Canada that the U.S. is seeking to
limit Canadian gas shipments, Hesse said such a move would work
against the long-term interest of American consumers. "We truly
constitute a North American market," she said. "Natural gas
moving through pipelines recognizes no boundries."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22091" NEWID="17411">
<DATE>29-APR-1987 14:06:53.79</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f2109&#31;reute
r f BC-60-PCT-SUPPORT-FOR-SP   04-29 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>SPANISH PORT STRIKE BY 60 PCT OF WORKERS</TITLE>
<DATELINE>    MADRID, April 29 - </DATELINE><BODY>Some 60 pct of 6,300 employees at
Spain's 27 major ports have supported a strike since Monday in
support of wage negotiations, a spokesman for the Public Works
Ministry said.
    He said, however, that the stoppage has had no effect in
Barcelona, Bilbao, Las Palmas and Pasajes and that mandatory
minimum services in other ports allowed perishable goods to be
handled.
    The strike is due to continue tomorrow with work resuming
on Friday.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22092" NEWID="17412">
<DATE>29-APR-1987 14:23:25.09</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>usa</D><D>antigua</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2171&#31;reute
h f BC-DEVCON-INTERNATIONAL   04-29 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>DEVCON INTERNATIONAL &lt;DEVC.O> GETS CONTRACT</TITLE>
<DATELINE>    POMPANO BEACH, Fla., April 29 - </DATELINE><BODY>Devcon International Corp
said it has received a 13.5 mln dlr contract from the
government of Antigua for harbor dredging and construction of a
deepwater pier at St. John's, with completion expected within
two years.
    It said work will start immediately.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22020" NEWID="17413">
<DATE>29-APR-1987 14:28:50.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>tose</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2195&#31;reute
b f BC-daiwa-securities   04-29 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>DAIWA SECURITIES BUYS TORONTO EXCHANGE SEAT</TITLE>
<DATELINE>    TORONTO, April 29 - </DATELINE><BODY>Daiwa Securities America Inc, wholly
owned by Daiwa Securities Co Ltd, of Tokyo, received approval
to acquire a seat on the Toronto Stock Exchange for 361,000
Canadian dlrs, the exchange said.
    Approval was granted by the exchange's board of governors
and is the first acquisition of an exchange seat by a Japanese
company, it said.
    The purchase price is the highest ever paid for an exchange
seat, it added.
    Daiwa acquired the exchange seat from Andras Research
Capital Inc, the Toronto Stock Exchange said.
    Daiwa now intends to apply for exchange membership, which
will be subject to approval by other exchange members and the
Ontario Securities Commission, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22018" NEWID="17414">
<DATE>29-APR-1987 14:29:39.33</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>tse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2196&#31;reute
r f BC-REUTERS-&lt;RTRSY.O>-SHA   04-29 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>REUTERS &lt;RTRSY.O> SHAREHOLDERS APPROVE CHANGES</TITLE>
<DATELINE>    NEW YORK, April 29 - </DATELINE><BODY>Reuters Holdings PLC said shareholders
approved changes in the company's articles of association to
allow it to seek a listing on the Tokyo Stock Exchange.
    The shareholders also approved a stock option plan tied to
performance. The plan allows grants of options up to eight
times earnings to a small group of executives, the company
said.
    The shareholders approved the measures at a special meeting
following the company's annual meeting.
    The amendment allowing the Tokyo listing exempts the &lt;Japan
Securities Clearing Corp> from a 15 pct shareholding limit
contained in the articles of association.
    Under rules of the Tokyo exchange, shares in foreign
companies owned by Japanese must be registered in the name of
Japan Securities Clearing or its nominee, the company said.
    Reuters, based in London, supplies a wide range of
information services to business and news media subscribers.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22126" NEWID="17415">
<DATE>29-APR-1987 14:30:41.34</DATE>
<TOPICS><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f2203&#31;reute
r f AM-drilling   04-29 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>OFFSHORE OIL DRILLING MOVING INTO DEEPER WATERS</TITLE>
<DATELINE>     HOUSTON, April 29 - </DATELINE><BODY>Offshore drilling for oil and gas will
be moving into deeper and deeper waters, according to Ronald L.
Geer, a consultant with Shell Oil Co. and president of the
Marine Technology Society.
     Geer told a press conference at the Offshore Technology
Conference that the technology existed to drill exploratory
wells in up to 10,000 feet of water.
     But he added that as the industry moves more and more to
floating systems as opposed to fixed bottom supported
structures, the financial risks involved were greater.
     He said such projects involved six to nine year time
frames, and there was a "reluctance for people to stick their
necks too far out."
     Shell holds the world record for the deepest exploratory
well, at 6,900 feet, in the Wilmington Canyon in the Atlantic
offshore New Jersey in 1984.
     The company is currently drilling a 6,700 foot well in the
Atwater Valley in the Gulf of Mexico offshore Louisiana.
     Meanwhile, Brazil's Petrobras set a world record for
underwater production when they brought a well in 1,350 feet of
water offshore Rio de Janeiro state into production in January.
     Geer said the industry was particularly interested in the
Green Canyon field offshore Louisiana where a number of
companies, including Shell, a unit of Royal Dutch/Shell &lt;RD>,
Dupont Co's &lt;DD> Conoco Inc, USX Corp's &lt;X> Marathon Oil Co,
Standard Oil Co &lt;SRD> and &lt;Placid Oil Co>, are working, many of
them testing new deep-water technologies.
     Of particular interest is the controversial Penrod-72
system being operated by the Dallas-based Hunt brothers who
last year placed Placid Oil under bankruptcy court protection
in order to avoid foreclosures on its valuable oil properties.
     They have been seeking the right to use assets to drill
oil wells in the Green Canyon through Penrod, arguing that
continued development of the project is essential to their
ability to get out of their financial crisis.
     Earlier this month, the Hunts were granted permission by a
bankruptcy court to pursue the Green Canyon project.
     The Penrod system involves a controversial floating
production platform with well heads sitting 1,350 feet down on
the ocean floor. Some 24 wells will be attached to the
wellhead, with one satellite well sitting in a record 1,700
feet of water.
     Geer said he could not comment on the Penrod project,
other than to note that it involves so many new technologies,
it might have a problem fitting all the pieces together within
a specific time frame.
     He also said he believed the potential production from the
project could be in line with what the Hunt Brothers have
projected
.
     The Hunts' creditor banks have contended the Hunts have
exaggerated the potential of the project.
     "They're in the ballpark," he said, of the numbers, adding
that he did not have enough information to comment further.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22024" NEWID="17416">
<DATE>29-APR-1987 14:49:22.86</DATE>
<TOPICS><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f2281&#31;reute
d f BC-GAS-GROWTH-SEEN-HURT   04-29 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>GAS GROWTH SEEN HURT BY REGULATORY UNCERTAINTY</TITLE>
<AUTHOR>    By NAILENE CHOU WIEST, Reuters</AUTHOR>
<DATELINE>    NEW YORK, April 29 - </DATELINE><BODY>Demand for natural gas has failed to
grow in proportion to the decline in oil deliveries because of
concerns over unresolved regulatory issues in the United
States, said industry analysts and gas utility company sources.
    "Natural gas is not free to compete," said Larry Makovich,
director of utilities service at Data Resources Inc, "problems
on pipeline open access and take-or-pay liabilities still weigh
heavily on end-users' decision to switch to natural gas."
    A manager with an East Coast gas distribution company,
agreed that reluctance among end-users often stemmed from fear
of unresolved regulatory issues.
    "The fact that at the federal level open access is not yet
firmly in place threatens to impede free flow of natural gas
from producers to consumers," he said.
     Michael German, an economist with the American Gas
Association, said while a significant amount of gas was now
replacing oil in dual-fuel boilers, the progress of expanding
the marketshare of gas was slow. First quarter natural gas
consumption data is not available until June.
    In the first three months of 1987, residual fuel demand
fell by an average of 55,000 barrels per day, according to the
American Petroleum Institute. Natural gas, however, was not
able to take full advantage of the decline in oil consumption.
    AGA's German said that while industrial consumers were
concerned with regulatory issues in their long-range capital
investment decisions, in the dual-fuel boiler market relied on
spot purchases.
    "With all the capability of switching (from oil to natural
gas) already there, price of the fuel is the only concern," he
said, adding that compared with the same period last year,
January natural gas price at burner tip is 16 pct lower for
industrial users and 32 pct lower for utilities.
    German attributed the sluggish performance of natural gas
to lower demand in the utility sector as a whole.
    "March was warmer than normal, which cut down gas
consumption not only in home heating but also in electricity
generation," he said.
     In March, according to API monthly statistics, residual
fuel deliveries fell by 13.6 pct to 1.2 mln barrels per day
from the same period a year ago.
    While API specifically mentioned lower natural gas prices
had put residual fuel at a price disadvantage among electric
utilities and industrial users, industry analysts believed the
role of natural gas was over-stated.
    Makovich of DRI noted much of the decline in oil in the
fuel mix was taken up by new nuclear capacity coming on stream
in the last few years.
    Nuclear capacity rose nine pct in 1986, and he projected
the same rate of growth for 1987 and 11 pct growth in 1988. 
    In contrast, oil and gas together represented only 15 pct
of the fuel mix in 1986 and should decline to 13 pct by 1989,
he said. Within this sector, gas share fell to 66 pct in 1986
from 76 pct a year ago due to competition from falling oil
prices, he added. But this year, gas was expected to recapture
only two pct of the share, Makovich said.
    Michael German of AGA agreed and said, "Nevertheless,
outlet for several hundred billion cubic feet of gas a year is
significant in a glutted market."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22093" NEWID="17417">
<DATE>29-APR-1987 14:50:18.29</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>uk</D><D>iran</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f2283&#31;reute
u f BC-IRAN'S-NAVY-CHIEF-THR   04-29 0125</UNKNOWN>
<TEXT>&#2;
<TITLE>IRAN'S NAVY CHIEF THREATENS GULF CLOSURE</TITLE>
<DATELINE>    LONDON, April 29 - </DATELINE><BODY>Iran's navy commander warned that Iran
would close off the Strait of Hormuz, entrance to the Gulf, if
there was any disruption to its shipping or sea-bound trade,
Tehran radio said.
    Commodore Mohammed Hoseyn Malekzadegan told a news
conference Iran was ready to maintain security in the Gulf.
    But he added "If there is any disruption in the movement of
our ships and our imports and exports, this waterway would not
be left open for any country."
    The radio, monitored by the British Broadcasting
Corporation, quoted Malekzadegan as saying Iran's navy now had
the most advanced defensive equipment, including long-range
shore- to-sea missiles and a range of sea-to-sea missiles.
    He said it had also expanded operations to cover the whole
region "from the most northerly point in the Persian Gulf to the
most southerly part of the Sea of Oman."
    Referring to U.S. fleet movements in and near the Gulf,
Malekzadegan said they had so far not been directed against
Iran's interests.
    "Their movements have been on the basis of international
regulations and in the open seas," the radio quoted him as
saying. "However, if any movement or action is carried out
against the interests of the Islamic Republic of Iran in
whatever context, we shall decisively confront that move."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22021" NEWID="17418">
<DATE>29-APR-1987 15:04:02.18</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>tose</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2329&#31;reute
u f BC-daiwa-securities-plan   04-29 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>DAIWA SECURITIES TO OPEN CANADIAN HOUSE</TITLE>
<DATELINE>    TORONTO, April 29 - </DATELINE><BODY>Daiwa Securities Co Ltd, of Tokyo,
plans to open a new Canadian company after a June 30
deregulation of the Ontario equity market is implemented, Daiwa
Securities general manager for Canada Hajimu Watanabe told
Reuters in reply to query.
    The Toronto Stock Exchange earlier announced Daiwa became
the first Japanese company to acquire an exchange seat, paying
361,000 Canadian dlrs, the highest price ever paid.
    "This is a prelude of our establishment of a new Canadian
company," Watanabe said.
    Watanabe said Daiwa's new Canadian brokerage house will
concentrate on investment in Canadian stocks by Japanese
investors, Canadians acquiring Japanese equity, and government
and corporate financing, mainly in the Canadian bond market.
    "We have now a huge amount of demand on the part of Japanese
investors for Canadian stocks," Watanabe said.
    "So if we can get membership of the Toronto Stock Exchange,
that should support our business very much," he added. Daiwa's
application for exchange membership is subject to approval by
other members and the Ontario Securities Commission.
    When asked, Watanabe declined to specify how much capital
Daiwa, the world's second largest investment dealer, would
invest in its Canadian subsidiary.
    "It is quite confidential at this moment, but say our main
intention is not to create any friction with the Canadian
houses," Watanabe said.
    He said Daiwa could easily set up its new unit with one
billion Canadian dlrs of capital, "but we are starting at quite
a moderate figure."
    "But small means quite big in Canadian terms," he added.
    Daiwa, which established a representative office in Canada
in 1980, is ready to open its Canadian house as soon as Ontario
security deregulation is implemented on June 30, Watanabe said,
adding Daiwa is very pleased with its reception by Canadian
regulatory authorities.
    Watanabe said about 10 pct of Japanese investment in
foreign securities goes to Canada, ranking second to the United
States which receives about 50 pct.
    "The Japanese institutional investors feel that it is rather
risky to concentrate around the 50 pct" in one country, he said.
    Japanese institutional investors are trying to diversify to
other non-American vehicles, and there are very few candidates
that remain safe investment objects, Daiwa's Watanabe added.
    Investors in Japan are also feeling it is risky to
concentrate in fixed income paper, and are looking more towards
investment in paper equity and real estate.
   "So, investment in Canadian paper, especially Canadian
equity, should have a great future," Watanabe said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22134" NEWID="17419">
<DATE>29-APR-1987 15:08:51.63</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f2350&#31;reute
r f BC-NIPPON-MINING-PLANS-M   04-29 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>NIPPON MINING PLANS MORE U.S. JOINT VENTURES</TITLE>
<DATELINE>    HOUSTON, April 29 - </DATELINE><BODY>Nippon Mining Co Ltd president Yukio
Kasahara said the state-owned Japanese firm hoped to find
additional joint venture partners to explore for U.S. oil
reserves.
    "We have to secure the stability of oil for Japan,"
Kasahara told reporters at the World Petroleum Congress. "In
the exploration area I think Japanese companies are interested
in joint ventures."
    Nippon Mining, for example, last September signed an
agreement with Dupont Co's &lt;DD> Conoco Inc to participate in a
135 mln dlr exploration venture that includes six wells on land
and 14 offshore Louisiana. The first joint well drilled is in
the Gulf of Mexico's Green Canyon Block 182, a deepwater lease
that Conoco was almost forced to return to the federal
government undrilled because of low oil prices.
    "At this moment we have no success but we will proceed with
Conoco. Maybe by the end of the year we will find oil there,"
Kasahara said. He said that similar kinds of joint ventures
"would be best" for Nippon Mining's oil exploration efforts in
the future.
    Kasahara also said Nippon Mining was not planning to
acquire any U.S. refining or marketing outlets. "Retail sales
in general do not interest the Japanese oil companies," he
said.
    When asked whether he believed world oil prices might
strengthen later this year, Kasahara said he expected prices to
hold steady at today's level.
    "Within this year I think the 18 dlrs a barrel will
continue. But next year I don't know," he said. "For the
refining business, stability is important. Whether the price is
18 dlrs or 20 dlrs, we don't care."
    But encouraging additional upstream efforts may require
modestly higher oil prices, Kasahara added. "For exploration I
think 20 dlrs a barrel or 22 dlrs a barrel would be
reasonable," he said.
    The key factor in determining whether the Organization of
Petroleum Exporting Countries (OPEC) would raise its 18 dlr a
barrel benchmark price is the ongoing war between Iran and
Iraq, Kasahara said. Saudi Arabia, he added, was an uncertain
element in the OPEC equation because of its need to maintain
revenues at the same time the weakened U.S. dollar has reduced
oil profits.
    Nippon Mining, which like all Japanese crude buyers is
benefitting from the drop in the value of the dollar, favors
continuing to price OPEC crude oil according to U.S. currency
regardless of the dollar-yen relationship, Kasahara said.
    "I hope the dollar would strengthen eventually and continue
to improve. I would prefer to see the (OPEC) pricing remain in
dollars," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22100" NEWID="17420">
<DATE>29-APR-1987 15:26:09.50</DATE>
<TOPICS><D>dlr</D><D>money-fx</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2404&#31;reute
b f BC-/REAGAN-WARNS-ON-FURT   04-29 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>REAGAN WARNS ON FURTHER DOLLAR FALL</TITLE>
<DATELINE>    WASHINGTON, April 29 - </DATELINE><BODY>President Reagan said a further
decline in the value of the dollar could be counterproductive.
    In written answers to questions put by Japan's Asahi
Shimbun newspaper, he noted Treasury Secretary James Baker had
said all seven major industrial nations were committed to
cooperating in fostering stability of exchange rates.
    "We all believe a further decline of the dollar could be
counterproductive," Reagan said.
    Reagan said the best way for the United States to reduce
its trade deficit was to export more.
    He said Japan could make a major contribution to reducing
external imbalances and sustaining world economic growth by
adopting policies to promote stronger domestic demand in the
short-run and, in the long-run, implementing structural reforms
to ease Japanese dependence on exports as a source of growth.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22016" NEWID="17421">
<DATE>29-APR-1987 15:46:11.10</DATE>
<TOPICS><D>cotton</D></TOPICS>
<PLACES><D>usa</D><D>bangladesh</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2446&#31;reute
u f BC-/BANGLADESH-AUTHORIZE   04-29 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>BANGLADESH AUTHORIZED TO BUY PL 480 COTTON-USDA</TITLE>
<DATELINE>    WASHINGTON, April 29 - </DATELINE><BODY>Bangladesh has been authorized to
purchase about 32,000 bales (480 lbs) of U.S. cotton under an
existing PL 480 agreement, the U.S. Agriculture Department
said.
    It may buy the cotton, valued at 10.0 mln dlrs, between May
6 and August 15, 1987 and ship it by September 15, the
department said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22127" NEWID="17422">
<DATE>29-APR-1987 15:56:24.90</DATE>
<TOPICS><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f2464&#31;reute
u f BC-COASTAL-(CGP),-TRANSA   04-29 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>COASTAL &lt;CGP>, TRANSAMERICAN SETTLE GAS DISPUTE</TITLE>
<DATELINE>    HOUSTON, April 29 - </DATELINE><BODY>Coastal Corp and TransAmerican Natural
Gas Corp have proposed settling more than four billion dlrs in
lawsuits with an agreement for natural gas sales and
transportation between the two Texas firms, a lawyer for
Coastal said.
    The proposed settlement also provided for Coastal to
withdraw its reorganization plan in TransAmerican's bankruptcy
proceedings.
    Thomas McDade, a lawyer for Coastal, said the settlement
included a five-year agreement for TransAmerican to transport
up to 100 mln cubic feet of natural gas daily from south Texas
fields to major pipeline interchanges. TransAmerican will also
sell Coastal up to 125 mln cubic feet of gas at spot market
prices during the next 10 years.
    McDade said Coastal would agree to support TransAmerican's
plan of reorganization pending in federal bankruptcy court.
    TransAmerican, a Houston-based natural gas production and
pipeline company, had sued Coastal for 4.1 billion dlrs
alleging that Coastal chairman Oscar Wyatt wrongly interfered
with TransAmerican's reorganization efforts. Coastal is one of
TransAmerican's unsecured creditors.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22015" NEWID="17423">
<DATE>29-APR-1987 16:17:56.64</DATE>
<TOPICS><D>silver</D></TOPICS>
<PLACES><D>mexico</D><D>peru</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G M T
&#22;&#22;&#1;f2541&#31;reute
u f AM-silver   04-29 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>MEXICO SILVER POLICIES UNCHANGED, OFFICIALS SAY</TITLE>
<DATELINE>    Mexico City, April 29 - </DATELINE><BODY>Mexico's policies for silver
production and sales have not changed despite Peru's decision
last week to freeze its silver sales, government mining and
central bank officials said.
    The officials also expressed doubt that such a policy
change was in the works.
    Mexico is the world's leading silver producer and had an
output of about 73.9 mln troy ounces last year, according to
preliminary government figures.
    Peru, the world's second leading silver producer, last week
suspended sales of the precious metal in what authorities in
Lima said was an effort to protect its price in an unstable
market.
    Since the decision, Peruvian officials have said they will
discuss cooperation in the silver market with Mexican officials
in scheduled meetings.
    Last week, Peruvian central bank president Leonel Figueroa
and the head of the central bank of Mexico, Miguel Mancera
Aguayo met in Mexico City in private talks said aimed at
consolidating the upward trend of silver prices.
    Mexican minister of energy and mines, Alfredo del Mazo, is
also expected to meet soon with his Peruvian counterpart,
Wilfredo Huayta.
    However, no Mexican decision has been made to follow the
Peruvian example of suspending new silver sales, Mexican
officials said.
    One Mexican mining sector official working closely with the
government's production and sales policy told Reuters there
have been no changes in policy handed down by the central bank.
    "The same policy that has been followed will be continued,"
said the official, who asked not to be further identified.
    A spokesman for the central bank said the bank had no
information on any silver policy changes.
    An energy and mines ministry spokesman and an official in
the ministry's metallurgy department also said no government
silver policy change had been made.
    The mining sector official also said he doubted Mexico
would follow Peru's policy, reasoning that if the two
governments had intended to coordinate silver policies, Mexico
would have announced a sales suspension along with Peru last
week.
    "It's very probable a change won't be made," the official
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22117" NEWID="17424">
<DATE>29-APR-1987 16:19:24.00</DATE>
<TOPICS><D>carcass</D><D>livestock</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C L
&#22;&#22;&#1;f2546&#31;reute
u f BC-NY-MEAT-CUTTERS-UNION   04-29 0125</UNKNOWN>
<TEXT>&#2;
<TITLE>NY MEAT CUTTERS UNION REJECTS LATEST OFFER</TITLE>
<DATELINE>    CHICAGO, April 29 - </DATELINE><BODY>Members of local 174 of the United Food
and Commercial Workers (UFCW) union, representing 1,900 meat
cutters in New York city, yesterday rejected the latest
management offer on a new contract.
    "Members rejected the latest offer by a 2 to 1 margin," Bob
Wilson, executive officer of local 174 said. But workers have
been asked to remain on the job while negotiations continue.
    The union has been in negotiations with the Greater New
York Association of Meat and Poultry Dealers, a group of meat
wholesalers and distributors. The contract expired April 26 and
the latest management offer sought "give backs" in holiday and
sick leave which the membership rejected, Wilson said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22108" NEWID="17425">
<DATE>29-APR-1987 16:29:16.98</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>nyse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2583&#31;reute
u f BC-GENRAD-&lt;GEN>-DECLINES   04-29 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>GENRAD &lt;GEN> DECLINES COMMENT ON ACTIVITY - NYSE</TITLE>
<DATELINE>    NEW YORK - </DATELINE><BODY>The New York Stock Exchange said Genrad Inc
declined to comment on what the exchange called unusual
activity in its stock today.
    The exchange said that in view of the unusual market
activity of Genrad stock it requested the company issue a
public statement indicating whether there are any corporate
developments.
    The company said its policy is not to comment on unusual
market activity or rumors, the Exchange said.
    Genrad stock closed at 12-1/2, up 1-1/4.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22169" NEWID="17426">
<DATE>29-APR-1987 17:29:50.25</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>bangladesh</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2773&#31;reute
u f BC-/BANGLADESH-KEEPS-OPT   04-29 0125</UNKNOWN>
<TEXT>&#2;
<TITLE>BANGLADESH KEEPS OPTIONS OPEN ON GRAIN PENALTY</TITLE>
<DATELINE>    DHAKA, April 29 - </DATELINE><BODY>Bangladesh is keeping its options open on
whether to seek a penalty from Continental Grain Co of the
United States for alleged breach of a wheat shipment contract,
but is also asking the company to expedite shipment of the
cargo, a senior Food Ministry official said.
    The official, who declined to be named, said the company
under a deal agreed to ship 100,000 tonnes of wheat by April 7
and another 100,000 tonnes by April 16. But it shipped only
126,000 tonnes altogether.
    The supplier will have to pay penalty at a rate of two dlrs
per tonne for every delayed day according to a document signed
by both the Food Ministry and the suppliers' agent in Dhaka, he
told Reuters.
    "If they arrange quick shipment, we may take a lenient view,"
the official said. The issue is expected to be decided at a
cabinet meeting scheduled for next Sunday, he added.
    A pro-government Bengali daily "Dainik Janata" reported today
that Continental Grain could face a penalty of 200 mln taka
(6.49 mln dlrs) for alleged failure to maintain shipment
schedule.
    The local agent of Continental Grain, Shafi Ahmed
Choudhury, told Reuters he applied to the Bangladesh government
for an extension of the shipment period because loading of
wheat at London was being delayed due to bad weather and a
faulty elevator at a grain silo. But the government has not yet
granted the extension, he said.
    Choudhury said the freight rate and price of wheat had gone
up after the deal was signed, which resulted in a financial
loss to the company.
    He said he was not "officially informed" of the move to
impose a penalty, although he was "not totally unaware of it."
    Continental Grain officials in New York declined to
comment.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22025" NEWID="17427">
<DATE>29-APR-1987 17:36:38.99</DATE>
<TOPICS><D>crude</D><D>gas</D><D>fuel</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f2807&#31;reute
u f BC-RECENT-U.S.-OIL-DEMAN   04-29 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>RECENT U.S. OIL DEMAND UP 0.6 PCT FROM YEAR AGO</TITLE>
<DATELINE>    WASHINGTON, April 29 - </DATELINE><BODY>U.S. oil demand as measured by
products supplied rose 0.6 pct in the four weeks ended April 17
to 15.91 mln barrels per day (bpd) from 15.82 mln in the same
period a year ago, the Energy Information Administration (EIA)
said.
    In its weekly petroleum status report, the Energy
Department agency said distillate demand was off 10.2 pct in
the period to 2.67 mln bpd from 2.98 mln a year earlier.
    Gasoline demand averaged 6.94 mln bpd, off 1.8 pct from
7.06 mln last year, while residual fuel demand was 1.17 mln
bpd, off 12.9 pct from 1.34 mln, the EIA said.
    Domestic crude oil production was estimated at 8.36 mln
bpd, down 5.9 pct from 8.88 mln a year ago, and gross daily
crude imports (excluding those for the SPR) averaged 3.70 mln
bpd, up 5.2 pct from 3.52 mln, the EIA said.
    Refinery crude runs in the four weeks were 12.58 mln bpd,
up 2.0 pct from 12.33 mln a year earlier, it said.
    In the first 113 days of the year, refinery runs were up
2.3 pct to an average 12.36 mln bpd from 12.09 mln in the
year-ago period, the EIA said.
    Year-to-date demand for all petroleum products averaged
16.26 mln bpd, up 1.6 pct from 15.99 mln in 1986, it said.
    So far this year, distillate demand fell 3.1 pct to 3.11
mln bpd from 3.21 mln in 1986, gasoline demand was 6.71 mln
bpd, off 0.3 pct from 6.73 mln, and residual fuel demand fell
6.2 pct to 1.32 mln bpd from 1.40 mln, the EIA said.
    Year-to-date domestic crude output was estimated at 8.38
mln bpd, off 7.4 pct from 9.05 mln a year ago, while gross
crude imports averaged 3.86 mln bpd, up 21.1 pct from 3.19 mln,
it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22101" NEWID="17428">
<DATE>29-APR-1987 17:43:41.84</DATE>
<TOPICS><D>dlr</D><D>money-fx</D></TOPICS>
<PLACES><D>panama</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2830&#31;reute
r f AM-centam-economy   04-29 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>SENIOR ECONOMIST PREDICTS 30 PCT FALL IN DOLLAR</TITLE>
<DATELINE>    panama city, april 29 - </DATELINE><BODY>a senior economist predicted the
u.s. dollar would decline another 30 pct by year-end, but said
he foresees no significant change in u.s. interest rates.
    "the market recognizes another 30 pct dollar depreciation is
necessary," said rudiger dornbush of the massachusetts institute
of technology.
    he said the only thing preventing the dollar from dropping
far below current levels was intervention by central banks in
definace of market forces.
    he said artifical support of the dollar had put the world's
financial markets in an "excessively volatile" position, however,
and predicted that within about four months "it is going to be
very difficult to keep the dollar in place."
    the forecasts, dornbush added, are for "a steady
deterioration from now on."
    dornbush, a university of chicago-educated economist, works
with the national bureau of economic research as well as mit.
he spoke here at the invitation of panama's national banking
association, sponsor of a three-day international banking
convention that got under way yesterday.
    dornbush discarded fears of soaring u.s. interest rates
because of the declining dollar.
    "the u.s. cannot raise interest rates. if it raises interest
rates all the debts will bounce in the foreign sector ... and
all over latin america," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22135" NEWID="17429">
<DATE>29-APR-1987 17:49:13.50</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f2839&#31;reute
u f BC-CHINESE-OFFICIALS-SAY   04-29 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINESE OFFICIALS SAY DRILLING OUTLOOK BRIGHT</TITLE>
<AUTHOR>    By KAREN YATES, Reuters</AUTHOR>
<DATELINE>    HOUSTON, April 29 - </DATELINE><BODY>China's oil drilling industry is one of
the few bright spots in the international oilpatch with about
1,000 rigs currently working and annual increases of 80-100
expected through the end of the century, a Chinese petroleum
official said.
    "In China, production concentrates on the domestic market,
and does not depend on the international price of oil," Zhai
Guang Ming, a director of the Chinese Ministry of Petroleum,
told Reuters.
    Chinese oil sold within the nation's borders is priced at
about one-third the 18 dlr a barrel benchmark price established
by the Organization of Petroleum Exporting Countries, Zhai said
in an interview at the World Petroleum Congress.
    The optimism in China is in sharp contrast to the United
States where weak oil prices have prompted a steep fall in the
number of active rigs from a 1981 peak of 4,500 to only 765
last week according to the latest Baker Hughes Co rig count.
    At this time, China actually has more rigs in operation
than any other country in the world, said Xianglin Hou, another
member of the 20-man Chinese delegation at the Houston meeting.
    But this does not mean good news for the sagging oilfield
equipment industry in the rest of the world, said Bryan Walman,
international sales manager for Reed Tool Co in Houston.
    Walman said more than 90 pct of China's drilling activity
is on land and under the control of the Chinese government
which requires local manufacture of drilling equipment.
    But U.S. and other western nations do provide equipment for
China's fledgling offshore projects as well as participate in
the actual drilling, he said.
    Amoco Corp &lt;AN>, for example, has reported a discovery in
1,000 feet of water in the South China Sea.
    "We're encouraged," said Alfred Munk, manager of Amoco's
foreign affairs, "but we need substantial reserves before we
can do commercial production in a remote area like that."
     Zhai estimated that current Chinese oil production of 130
mln tonnes a year should rise to total 200 mln tonnes annually
by the year 2,000.
    Chinese crude reserves total 23.6 billion barrels, with
ultimate resources estimated at 69.3 billion barrels.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22128" NEWID="17430">
<DATE>29-APR-1987 18:20:24.43</DATE>
<TOPICS><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f2875&#31;reute
r f BC-/U.S.-INTERIOR-SECRET   04-29 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. INTERIOR SECRETARY OPPOSES OIL IMPORT FEE</TITLE>
<DATELINE>    LOS ANGELES, April 29 - </DATELINE><BODY>U.S. Interior Secretary Donald
Hodel said he does not support an oil import fee as a means to
stimulate domestic oil and gas production.
    "I am an advocate for incentives for exploration," Hodel
said, but added, "I do not favor an oil import fee."
    "It would inject the federal government so deeply back in
to the process, we would never get the government out again,
and I think that would be in the long term disinterest of the
nation," Hodel said in an address to a group of local business
executives.
    Earlier today, Congressmen from oil producing states
introduced a bill that would impose a fee on oil imports.
    Hodel said he supports drilling incentives, such as repeal
of the Windfall Profits Tax and Fuel Use Act and deregulation
of natural gas.
    The secretary also said oil and gas exploration offshore
California and in the Artic National Wildlife Refuge is
necessary to prevent the U.S. from becoming too dependent on
foreign supplies of oil for its energy needs.
    Failure to approve such exploration, Hodel said, would lead
to greater U.S. dependence on foreign sources of oil.
    "In the next two to five years, no matter what we do today,
we are very likely to find the U.S becoming 50 pct or more
dependent on imports for its oil requirements," Hodel said.
    If OPEC were to raise oil prices sharply, Congress would
likely act to have the federal government fix gasoline prices
and allocate supplies, Hodel said.
    "If they allocate supplies you and I, in the same
two-to-five year time frame, could well find ourselves sitting
back in gas lines," Hodel said.
    Exploration for oil and gas in offshore areas and in the
Arctic National Wildlife Refuge would not jeopardize
environmentally sensitive areas, Hodel said.
    "We are convinced we can meet and resolve every
environmental concern that is raised," Hodel said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22129" NEWID="17431">
<DATE>29-APR-1987 18:26:40.54</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F E Y
&#22;&#22;&#1;f2882&#31;reute
u f BC-FTC   04-29 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>FTC FINDS 17 BILLION DLR COST IN OIL IMPORT FEE</TITLE>
<DATELINE>    WASHINGTON, April 29 - </DATELINE><BODY>An oil import fee could cost
consumers nearly 17 billion dlrs a year and undermine long-term
U.S. energy security by leading to a quicker depletion of 
domestic reserves, a Federal Trade Commission study said.
    The study by the FTC's bureau of economics found that a
five dlr a barrel tariff on crude oil and gasoline oil imports
would increase costs to consumers by 14 to 16.7 billion dlrs a
year.
    After weighing the benefits of such a tariff against the
costs, the study found a five dlr a barrel import fee would
have a net cost to the economy of 3.6 billion dlrs a year.
    Several oil import fee proposals ranging from two to 10
dlrs a barrel have been made in Congress in an effort to cut
the federal budget deficit and maintain the momentum for energy
conservation programs, which have been hurt by cheaper oil.
    But by making foreign oil more expensive, the tariffs would
reduce oil imports and force greater consumption of domestic
oil, which would deplete U.S. reserves faster, the study found.
    "Any attempt to increase our energy security by limiting
imports will actually reduce our long-run energy security by
speeding the depletion of domestic reserves," the study said.
    The five dlr a barrel tariff would also cut domestic
petroleum refiners' profits by 7.5 to 10 billion dlrs a year,
increase domestic crude oil producers' profits by about 13
billion dlrs a year and raise government revenues by 6.7 to 
8.2 billion dlrs a year, the FTC said.
    Under the Reagan administration, the FTC has consistently
opposed government regulation of the oil industry at the state
and federal levels.
    "This study backs up my belief that government regulation
and interference with competition hurt both the market and
consumers," FTC Chairman Daniel Oliver said in a statement.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22059" NEWID="17432">
<DATE>29-APR-1987 19:02:59.88</DATE>
<TOPICS><D>cpi</D></TOPICS>
<PLACES><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2933&#31;reute
r f PM-SPAIN   04-29 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>GONZALEZ PLEDGES FIRM ANTI-INFLATION BATTLE</TITLE>
<DATELINE>    MADRID, April 29 - </DATELINE><BODY>Prime Minister Felipe Gonzalez, facing
an increasingly violent wave of labour unrest, has told
Spaniards he is determined to bring down inflation even if it
means slower growth and fewer votes for his Socialist Party.
    In a 50-minute television interview broadcast live,
Gonzalez criticized widespread protests which have blown up
less than a year after he won a resounding general election
victory.
    "It seems so important to us that sometimes I ask myself
'Why don't they understand when I explain this?'" Gonzalez said
of the anti-inflation strategy designed to modernise Spain and
make its economy competitive within the European Community.
    Gonzalez said the illegal work-to-rule at the airline was
grounding more and more planes and producing a backlog of
maintenance work which would not be cleared until the summer.
    "The comfortable thing to do would be to give in and have no
problems," the 44-year-old prime minister said, adding that
nothing could justify the use of violence in a democracy.
    Gonzalez said he still believed it was possible to reduce
inflation to five pct this year from the current rate of 6.3
pct, even though other government officials have admitted the
target may now be beyond reach.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22136" NEWID="17433">
<DATE>29-APR-1987 19:22:52.24</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f2957&#31;reute
r f AM-offshore   04-29 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>OFFSHORE OIL INDUSTRY WAITING FOR TURNAROUND</TITLE>
<AUTHOR>     By PETER ELSWORTH, Reuters</AUTHOR>
<DATELINE>     HOUSTON, April 29 - </DATELINE><BODY>The depressed offshore oil industry is
still waiting for a turnaround despite increasing optimisim
that world oil prices have stabilized around 18 dlrs a barrel.
     "The perception of a turnaround comes from the change in
prices," Charles Siess Jr, vice chairman of Marathon
Manufacturing Co, a subsidiary of USX Corp &lt;X>, and chairman of
the National Ocean Industries Association, said in a press
briefing at the Offshore Technology Conference.
     "From the level of industry activity, there is no
turnaround," he added.
     John Huff, president of Oceaneering International Inc
&lt;OCER>, was slightly more optimistic. "We are through the low
part of the cycle -- there's an increase in interest for
projects," he said, adding, "whether it comes to orders, who
knows?"
     The oil industry is recovering from last year's dramatic
fall in oil prices, from 30 dlrs a barrel in late 1985 to under
10 dlrs in mid-1986. Particularly hard hit were the service
companies that provide the oil rigs with keys products, such as
pipe and tools.
     Earlier in the week, Secretary the Interior Donald Hodel
announced -- at the Conference -- the government's new
five-year offshore oil and gas leasing program, proposing 38
sales, including tracts in the Gulf Coast, offshore California
and in the Arctic National Wildlife Refuge in Alaska.
     For the most part, the industry was disappointed with the
plan, with most arguing that additional areas should have been
included. At the same time, most were supportive of Hodel.
     Environmental concerns, particularly in California, had
lobbied strenuously against offshore oil development.
     "The (Outer Continental Shelf) leasing program fails to
take into account the environmental performance of the oil
industry," said Bill Bradford, executive vice president of
Dresser Industries &lt;DI> and president of the Petroleum
Equipment Suppliers Association.
     Huff quoted National Academy of Science figures showing
offshore rigs contributed only two pct of petroleum pollution
in the oceans, while tankers were responsible for 47 pct and
municiple dumping 31 pct.
     "The OCS is the keystone of the domestic reserve
development program," said Siess, adding that with oil imports
rising to 50 pct of U.S. oil consumption, the issue was one of
national security.
     Looking ahead, Constantine S. Nicandros, president of
Dupont's &lt;DD> Conoco Inc subsidiary, said, "We are more likely
to see a five pct increase in spending this year than the
widely-forecast five pct decrease."
     Other optimistic signs include the recent sale in New
Orleans of offshore tracts in the Gulf of Mexico which raised
290 mln dlrs against an expected 90 mln.
     However, Ronald Tappmeyer, vice chairman of Reading and
Bates Drilling Co &lt;RB>, said the oversupply of rigs would
continue for the near-term, but added demand for
technologically advanced rigs would increase in the 1990s.
     Much of that demand is seen coming from the move into
icreasingly deeper waters, with the projects becoming ever more
expensive and needing five to ten years to develop.
     Over 50 pct of the sales in New Orleans were for deep
water tracts.
     Ronald L. Geer, a consultant with Shell Oil Co, a
subsidiary of Royal Dutch/Shell &lt;RD>, and president of the
Marine Technology Society, said the technology existed to drill
exploratory wells in up to 10,000 feet of water.
     Geer said the industry was particularly interested in the
Green Canyon field offshore Louisiana where a number of
companies, including Shell, Conoco, USX Corp's Marathon Oil Co,
Standard Oil Co &lt;SRD> and Placid Oil Co, are working, many of
them testing new deep-water technologies involving floating
platforms.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="NOT-USED" CGISPLIT="PUBLISHED-TESTSET" OLDID="22060" NEWID="17434">
<DATE>29-APR-1987 22:38:50.43</DATE>
<TOPICS><D>cpi</D></TOPICS>
<PLACES><D>venezuela</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f3033&#31;reute
u f BC-VENEZUELA-APPROVES-WA   04-29 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>VENEZUELA APPROVES WAGE INCREASES, PRICE CONTROLS</TITLE>
<DATELINE>    CARACAS, April 29 - </DATELINE><BODY>Venezuelan president Jaime Lusinchi
approved a general wage increase in the form of bonuses ranging
from 20 to 30 pct and a 120-day price freeze on a basket of
basic consumer goods.
    Both measures, which take effect on May 1, were approved by
the cabinet. They will be announced to the nation by Lusinchi
in a televised address tonight but the text of the decrees was
released this afternoon.
    Businessmen, who met Lusinchi, opposed the pay rise, saying
it will fuel inflation. The inflation rate was 11.5 pct in 1986
and private economists say it will be 25 to 30 pct in 1987.
    The central bank said first quarter inflation was 6.3 pct.
    The wage increase for public and private sector employees
will be 30 pct on salaries of up to 2,100 bolivars a month. For
salaries of from 2,101 to 6,100 bolivars 25 pct and for those
of 6,101 to 20,000 bolivars 20 pct.
    The measures were taken in response to a request from the
Venezuelan confederation CTV for an increase to offset the loss
in the purchasing power of workers' salaries. It estimated the
loss at 40 pct.
    The general wage rise is the third granted by Lusinchi
since his government took office in February 1984.
    The wage increases are a bonus and will not be considered
in calculating benefits or severance pay, the decree said.
    At the same time, Lusinchi declared a freeze on lay-offs
and firings for the next 120 days.
    The price freeze applies to a group of 120 foods and other
consumer goods declared to be "of primary necessity."
    It does not apply to prices charged by agricultural
producers or to goods for which the price is falling.
    The decree establishes fines of between 1,000 and 500,000
bolivars for merchants who violate the price control measure.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5773" NEWID="17435">
<DATE> 1-JUN-1987 00:08:28.39</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0013&#31;reute
u f BC-HOSPITAL-CORP-&lt;HCA>-G   06-01 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>HOSPITAL CORP &lt;HCA> GETS FUNDS FOR RESTRUCTURING</TITLE>
<DATELINE>    NASHVILLE, TENN., May 31 - </DATELINE><BODY>Hospital Corp of America said it
received financing commitments of about 1.9 billion dlrs to pay
for its previously announced reorganization, which was approved
by the company's board of directors today.
    Under the reorganization, Hospital Corp will spin off over
100 hospitals to a new, independent firm for 1.8 billion dlrs
in cash and preferred stock and warrants in the new company,
which will be owned by an employee stock ownership plan, ESOP.
    Hospital Corp said that Drexel Burnham Lambert Inc has
agreed to provide bridge financing, or to find buyers for debt
of the new company, for an amount of up to 956 mln dlrs.
    This financing will comprise 270 mln dlrs of senior
unsecured ESOP debt and 686 mln dlrs of unsecured subordinated
financing for the new company, Hospital Corp said.
    Wells Fargo Bank NA has agreed to syndicate up to 940 mln
dlrs of secured bank financing, comprising a 400 mln dlr
revolving credit a separate 540 mln dlr term loan. Wells Fargo
has committed itself to fund an aggregate 400 mln dlrs of these
loans. Hospital Corp said it will not guarantee any of the
debt. The transaction will cut the number of hospitals the
company owns to about 125 from more than 230. It is expected to
be completed in the third quarter of the year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5774" NEWID="17436">
<DATE> 1-JUN-1987 00:24:47.47</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>uae</D><D>iran</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f0021&#31;reute
u f BC-IRAN-SAYS-IT-WILL-COM   06-01 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>IRAN SAYS IT WILL COMBAT GULF INTERVENTION</TITLE>
<DATELINE>    ABU DHABI, June 1 - </DATELINE><BODY>Iranian foreign minister Ali Akbar
Velayati warned that Iran would combat any superpower
intervention in the Gulf.
    "Iran, which is the most powerful (country) in the Gulf...
Will not allow the superpowers or any other foreign forces to
interfere in the region," he said.
    Velayati, visiting the United Arab Emirates on the first
leg of a Gulf tour, told reporters Iran had the "capabilities
and means" to prevent any interference. President Reagan has
pledged to keep the Gulf sealanes open and to protect Kuwaiti
tankers from possible Iranian attack.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5775" NEWID="17437">
<DATE> 1-JUN-1987 00:26:05.57</DATE>
<TOPICS></TOPICS>
<PLACES><D>sri-lanka</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0022&#31;reute
u f BC-SRI-LANKA-OFFERS-250   06-01 0032</UNKNOWN>
<TEXT>&#2;
<TITLE>SRI LANKA OFFERS 250 MLN RUPEES IN T-BILLS</TITLE>
<DATELINE>    COLOMBO, June 1 - </DATELINE><BODY>The Central Bank said it will offer offer
250 mln rupees worth of three-month treasury bills in a tender
closing on June 4.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5776" NEWID="17438">
<DATE> 1-JUN-1987 00:28:04.91</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI
&#22;&#22;&#1;f0024&#31;reute
u f BC-JAPAN-VARIABLE-LIFE-I   06-01 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN VARIABLE LIFE INSURANCE EARNS HIGH RETURNS</TITLE>
<AUTHOR>    By Yoshiko Mori, Reuters</AUTHOR>
<DATELINE>    TOKYO, June 1 - </DATELINE><BODY>Companies offering variable life insurance
policies, introduced in Japan in October, look set to report
sparkling results when they report on fund performance later
this month, fund managers at major insurance companies said.
    The managers told Reuters some insurers showed variable
life returns topping 50 pct on an annual basis in the five
months to March 31. Industry sources said all 17 Japanese and
U.S. Insurers offering variable life policies here have earned
returns of more than 10 pct on their investments.
    Returns on variable life policies, which are paid when
policies are surrendered, depend on the performance of funds
run by insurers.
    Managers said strong results are due to the loading of
funds into the buoyant Tokyo stock market and into convertible
bonds and attractive short-term instruments such as large yen
time deposits.
    Japanese share prices rose 30 pct in absolute terms between
November 1 and March 31. Key bond yields fell to around four
pct from five pct in the same period.
    "Variable life avails itself of the times and clients are
likely to be attracted after the impressive results to be made
public in early June," Ichirou Hayashi, general manager of
Nippon Life Insurance Co Ltd's fund management office said.
    The Finance Ministry does not allow disclosure of insurance
company figures for the year ended March 31 until early June.
    Nippon Life, the largest Japanese insurer, had about 50,000
investors in variable life by end-March while the three U.S.
Firms which offer variable life here have a total of some 7,550
investors, fund managers said.
    Equitable Life Insurance Co Ltd, American Life Insurance Co
Ltd and Sony Prudential Life Insurance Co, which is a joint
venture between Sony Corp and Prudential Life Assurance of the
U.S., Are the three U.S. Insurers offering variable life here.
   "Although (variable life) appears to be a short-term
financial instrument with death benefit, its first priority is
to raise as much cash value as it can over the long period,"
said Ichiro Kono, managing director and chief actuary of Sony
Prudential. Variable life guarantees a fixed death benefit.
    "Variables are also attractive to executives of companies
who wish to receive them as retirement funds with options for
settlement in annuities," Kono said.
    Nippon Life's Hayashi said sales of variable life were
shaping up well as interest rate consciousness grows.
    Insurance managers said they expect variables to survive
any credit market collapse since the funds should be able to
react to interest rate fluctuations more quickly than huge
general insurance accounts, assuming fund managers grow more
sophisticated in global fund and risk management.
    Japanese life insurers have cut dividends paid to holders
of regular insurance by as much as 0.45 of a percentage point
since April 1 due to declining domestic interest rates.
    Fund managers said regular insurance funds are invested
more conservatively with decisions based on long-term
strategies. Major life insurers are expected to report huge
exchange losses, estimated at over 2,000 billion yen, on
foreign investment for 1986/87, they said.
    "Asset mix is more of a concept for larger funds, not for
our variables, especially after the huge currency losses made
in the last fiscal year," Hayashi of Nippon Life said.
    Industry analysts said shifts of funds ahead of tax changes
due in October are helping boost the demand for variable life.
    The government is expected to impose a 20 pct withholding
tax on interest from certain instruments including single
premium endowment insurance, much of which is maturing now, but
variable life will be free of such a tax.
    But Sony Prudential's Kono said, "A large shift of funds
from single premium endowment to variable life is unlikely,
because investors in the former are more short-term
return-minded, while the latter doesn't guarantee short-term
cash value."
    Sony Prudential and Equitable Life each have three separate
variable life accounts. Equitable's funds specialise in
Japanese stocks, U.S. Stocks and money market instruments while
Sony's covers bonds, stocks and general investment.
    Japanese insurers have only one variable account each.
    The Finance Ministry allowed sales of variable life
endowment with terms over 10-years and whole life insurance
from October 1 last year but allowed single premiums only on
the latter.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5777" NEWID="17439">
<DATE> 1-JUN-1987 00:30:09.25</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0027&#31;reute
f f BC-Toshiba-group-net-34.   06-01 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Toshiba group net 34.18 billion yen (59.44 billion) year to March 31
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5778" NEWID="17440">
<DATE> 1-JUN-1987 00:30:28.91</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0028&#31;reute
b f BC-TOSHIBA-CORP-&lt;TSBA.T>   06-01 0045</UNKNOWN>
<TEXT>&#2;
<TITLE>TOSHIBA CORP &lt;TSBA.T> YEAR ENDED MARCH 31</TITLE>
<DATELINE>    TOKYO, June 1 -
    </DATELINE><BODY>Group shr 11.86 yen vs 19.24
    Net 34.18 billion vs 59.44 billion
    Pretax 78.02 billion vs 130.52 billion
    Operating 51.58 billion vs 121.50 billion
    Sales 3,308 billion vs 3,373 billion
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5779" NEWID="17441">
<DATE> 1-JUN-1987 00:32:25.42</DATE>
<TOPICS><D>gas</D><D>fuel</D></TOPICS>
<PLACES><D>singapore</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0033&#31;reute
u f BC-SINGAPORE-OIL-COMPANI   06-01 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>SINGAPORE OIL COMPANIES TO SET OWN PUMP PRICES</TITLE>
<DATELINE>    SINGAPORE, June 1 - </DATELINE><BODY>Singapore oil companies can set their
own petrol and diesel prices at the pump from today subject to
ceilings determined by their individual wholesale prices, The
Ministry of Trade and Industry said.
    The ministry previously revised pump prices and announced
the changes for the oil companies.
    Lead content of petrol is further cut to 0.15 gm/litre from
0.4 gm from today. Pump prices of the lower lead petrol grades
are expected to be announced soon by the oil companies which
have said wholesale prices are between 1.3 cents/litre to 3.2
cents higher than previous grades.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5780" NEWID="17442">
<DATE> 1-JUN-1987 00:35:44.06</DATE>
<TOPICS><D>cpi</D></TOPICS>
<PLACES><D>peru</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0038&#31;reute
u f BC-PERU-CONSUMER-PRICES   06-01 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>PERU CONSUMER PRICES RISE 5.9 PCT IN MAY</TITLE>
<DATELINE>    LIMA, May 31 - </DATELINE><BODY>Peru's consumer price index rose 5.9 pct in
May to 15,706.5 (base 1979) compared to 6.6 pct in April and
3.3 pct in May 1986, the National Statistics Institute said.
    It said accumulated inflation for the first five months of
this year was 33.8 pct against 24.1 pct for the same period in
1986.
    Inflation for the year ending May 1987 was 75.7 pct
compared to 76.8 pct for the year ending May 1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5781" NEWID="17443">
<DATE> 1-JUN-1987 00:36:14.37</DATE>
<TOPICS><D>grain</D><D>orange</D><D>sugar</D></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f0039&#31;reute
u f BC-CHINA-PROVINCE-BECOME   06-01 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA PROVINCE BECOMES GRAIN IMPORTER</TITLE>
<DATELINE>    PEKING, June 1 - </DATELINE><BODY>The south China province of Guangdong is
importing millions of tonnes of grain a year from overseas and
other parts of China because farmers have switched from grain
to more profitable crops, the Peking Review magazine said.
    The official magazine said the province's grain area fell
to 4.33 mln hectares in 1985 from 5.7 mln in 1978 out of a
total farmland area of 7.4 mln hectares.
    Farmers have switched to cash crops such as sugarcane,
bananas, oranges, papaya and freshwater fish-farming, in part
to supply major consumer markets in Hong Kong and Macao, the
magazine said. It gave no 1986 area figures.
    The magazine said China aims to keep 80 pct of national
farmland under grain, 10 pct under cash crops and 10 pct under
other crops, although the ratio will vary from place to place.
    It said primitive cultivation methods, labour-intensity and
low productivity make grain the least profitable farm
commodity. Farmers in one central region of China can from 0.1
hectare earn 2,250 yuan a year from vegetables, 375-450 yuan
from cotton or 225 yuan from grain, it added.
    It said consumer prices for foodgrain can be adjusted only
gradually as part of a reform of the entire pricing system.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5782" NEWID="17444">
<DATE> 1-JUN-1987 00:52:31.57</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F AI
&#22;&#22;&#1;f0049&#31;reute
u f BC-EC-URGED-TO-ACT-QUICK   06-01 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>EC URGED TO ACT QUICKLY ON EUROPEAN AIRFARE CUTS</TITLE>
<DATELINE>    LONDON, June 1 - </DATELINE><BODY>The European Commission should make urgent
and concrete proposals to break the deadlock over moves to cut
sky-high European airfares, an independent report said.
    The report by the Institute of Economic Affairs (IEA) said
costs, fares and profits on international services within
Europe are the highest in the world although European airlines
are less efficient and not perceptibly safer than their cheaper
U.S. Equivalents.
    "The European airlines protect their position through the
secrecy they maintain over the costs and profits of any group
of services," the report said.
    The airlines also protect themselves through "the ferocity
with which (they) resist any relaxation of the monopolistic
practices which protect their profits," the report said.
    Britain, a strong advocate of deregulation, has been trying
to push measures to introduce greater competition among
Europe's airlines but negotiations foundered at the end of 1986
over discount and deep discount fares.
    The IEA report said European governments and the
Commission, the EC executive authority, had been
extraordinarily lax about the airlines' secretiveness, showing
"a lack of concern for the interests of the traveller."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5783" NEWID="17445">
<DATE> 1-JUN-1987 01:17:35.61</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI
&#22;&#22;&#1;f0062&#31;reute
f f BC-Bundesbank's-Schlesin   06-01 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Bundesbank's Schlesinger says no plan to cut discount rate-Nihon Keizai newspaper
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5784" NEWID="17446">
<DATE> 1-JUN-1987 01:19:26.93</DATE>
<TOPICS><D>gas</D></TOPICS>
<PLACES><D>singapore</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0063&#31;reute
u f BC-SINGAPORE-PETROLEUM-C   06-01 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>SINGAPORE PETROLEUM CO REVISES PETROL PUMP PRICES</TITLE>
<DATELINE>    SINGAPORE, June 1 - </DATELINE><BODY>Singapore Petroleum Co Pte Ltd will
revise pump prices of petrol from June 2, an official said.
    Grade 97 octane with 0.15 gm/lead will be 96.8 cents/litre
against 94 cents previously for 0.4 gm lead. Grade 92 octane
will be 90.6 cents against 87.6 previously.
    SPC's price revision follows the Ministry of Trade and
Industry's move to liberalise petrol pricing by allowing oil
companies to set their own pump prices.
    New grades of petrol with lower lead content are sold in
Singapore from today in line with the Ministry of Environment's
regulations.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5785" NEWID="17447">
<DATE> 1-JUN-1987 01:19:37.19</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0064&#31;reute
u f BC-KOREA-ELECTRIC-POWER   06-01 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>KOREA ELECTRIC POWER PLANS FIRST EUROYEN BOND</TITLE>
<DATELINE>    SEOUL, June 1 - </DATELINE><BODY>Korea Electric Power Corp plans to issue
its first euroyen bond, a 7.5 billion yen issue with six-year
maturity carrying a coupon of less than five pct, company
officials said.
    They said the bond would be launched in London later this
month with Daiwa Securities Co Ltd as lead manager.
    The officials gave no further details.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5786" NEWID="17448">
<DATE> 1-JUN-1987 01:25:56.05</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI
&#22;&#22;&#1;f0069&#31;reute
b f BC-BUNDESBANK-REPORTED-T   06-01 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>BUNDESBANK REPORTED TO HAVE NO PLAN FOR RATE CUT</TITLE>
<DATELINE>    TOKYO, June 1 - </DATELINE><BODY>Bundesbank Deputy President Helmut
Schlesinger said the West German central bank had no plan to
cut its three pct discount rate, Nihon Keizai newspaper
reported.
    The financial daily quoted Schlesinger as saying in an
interview that the bank would try to maintain current interest
rate levels for the time being.
    He also told the newspaper he saw no need for large-scale
intervention in the foreign exchange market because exchange
rates are stable.
     Earlier, Schlesinger told a press conference that the
Bundesbank would continue its policy of maintaining short-term
interest rates at a low level for currency stability.
    He also said he was satisfied with the current dollar/mark
exchange rate but added that he was not certain if it was ideal
for the West German economy.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5787" NEWID="17449">
<DATE> 1-JUN-1987 01:33:45.10</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>south-korea</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI
&#22;&#22;&#1;f0074&#31;reute
u f BC-SEOUL-ANNOUNCES-MORE   06-01 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>SEOUL ANNOUNCES MORE TARIFF CUTS FOR U.S.</TITLE>
<DATELINE>    SEOUL, June 1 - </DATELINE><BODY>South Korea will cut import taxes on 50
items, including construction equipment, photographic film,
cigarettes and pipe tobacco, to help reduce its trade surplus
with the United States, the finance ministry said.
    The tariff cuts, of between five and 30 percentage points,
take effect on July 1.
    This brings to 157 the number of goods on which import
taxes have been cut this year, a ministry official said.
    The 157 are among about 290 items on which Washington has
asked Seoul to lower tariffs, he added.
    Today's announcement follows Saturday's removal of import
curbs on 170 products. For 46 of those products, the U.S. Had
had sought free access to the South Korean market.
    "This is in line with the government's policy to limit our
trade surplus with the United States to help reduce trade
friction between the two countries," the official said.
    South Korea's trade surplus with the U.S. Rose to 7.3
billion dlrs in 1986 from 4.3 billion in 1985. Officials said
the surplus was expected to widen further in 1987 but Seoul
would try to hold it below eight billion dlrs.
    The finance ministry said tariffs would be cut later this
month on a further 53 items, including acrylic yarn and
ethylene, by an average 7.7 percentage points in order to check
inflation.
    The officials said the tariff cuts would contribute to
holding wholesale and consumer price rises at less than three
pct this year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5788" NEWID="17450">
<DATE> 1-JUN-1987 02:05:45.88</DATE>
<TOPICS></TOPICS>
<PLACES><D>mexico</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI
&#22;&#22;&#1;f0092&#31;reute
u f BC-LATIN-DEBTORS-MAKE-NE   06-01 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>LATIN DEBTORS MAKE NEW PUSH FOR DEBT RELIEF</TITLE>
<AUTHOR>    By Keith Grant, Reuters</AUTHOR>
<DATELINE>    GUANAJUATO, Mexico, June 1 - </DATELINE><BODY>Rising interest rates and
protectionist trade policies had prompted a new push by Latin
American nations to win debt relief, regional foreign and
finance ministry officials said here.
    Officials of the Cartagena group of 11 debtor nations met
here this week to draw up new proposals in reaction to what
they called a deteriorating world panorama, and Citicorp's
decision to create reserves against third world loans.
    (SEE ECRA FOR SPOTLIGHT HEADLINES)
    "We are looking at trade, interest rates and financial
flows.....In order to put forward a basis for some permanent
solutions," Mexico's public credit director Angel Gurria said.
    Recent developments have led to moves for a summit of Latin
American presidents and debate on new solutions.
    Ideas include schemes to link debt payments to trade, and
proposals for stable interest rates. The latter was proposed in
a letter this week from Cartagena to G-7 leaders who are due to
attend a summit in Venice this month.
    Another idea is to include debt under Gatt negotiations,
but Cartegena ministers have yet to endorse any proposals.
    Speaking earlier in New York, Uruguay's Foreign Minister
and Cartagena group chairman Enrique Iglesias said Citicorp's
decision could discourage new lending. But it might help
Cartagena's bid to have old and new debt treated separately.
    The Cartagena group, which has not met at ministerial level
for over a year, wants to repay debt contracted before the debt
crisis at the low interest rates prevailing in the 1970s. It
would pay new loans at current market rates.
    "Many countries fear that what they have gained in months of
arduous debt negotiations they can lose at a stroke with a one
point rise in interest rates," one official here said.
    "The new increase in interest rates has come precisely when
we thought they had still not come down enough," Iglesias said.
    Latin American officials are also concerned that varying
interest spreads granted to different debtor nations could
generate discord, as with the Philippines' recent protest at
being given less favourable terms than Argentina.
    There has been speculation Venezuela would demand a cut in
its 7/8 pct spread, but public finances director Jorge Marcano
said here there were no plans to renegotiate terms.
    This week's meeting came after three Latin American
presidents meeting in Montevideo called for stable interest
rates on the region's 380 billion dlr foreign debt. It was
called to review developments since the last ministerial
meeting in February 1986 and to think up new ideas.
    Since the last ministerial meeting there have been some
advances, such as Mexico's growth-oriented 77 billion dlr loan
and refinancing package agreed last September. But there have
also been setbacks, like Brazil's payments moratorium.
    The loans expected in the Baker plan have not materialized
and debtors have been forced to browbeat reluctant banks.
    "We have clearly stretched the restructuring process to its
limits and and the question is now where do we go from here?" a
senior Mexican foreign ministry official said.
    Existing debt strategy has been based on nursing debtor
economies back to a position where they can again service their
debts and qualify for new loans.
    But after five years of economic adjustment, Latin American
debtors are currently unable to raise voluntary credits, with
the exception of Colombia. Only Venezuela is paying back
principal. Most countries have no prospect of paying their
debts in the foreseeable future.
    Citicorp has made clear its decision to move three billion
dlrs to reserves does not mean it is writing-off the loans.
    Latin American officials here said Citicorp's move would
probably boost trading of discounted third world debt in the
secondary market, implicitly downvaluing the amount owed. But
they said it might make new lending even more remote.
    Discounted debt can be bought by foreign investors through
debt-equity schemes that generate new resources for debtor
economies. Chile and Mexico are currently front-runners in this
field, but most Latin American officials see these schemes as
limited and no panacea for the overall problem.
    Most Latin officials set greater store on building up
export income than on debt-equity schemes.
    Exports hit 97.7 billion dlrs in 1984, cutting the region's
debt service ratio to 36 pct, but they fell to 78.3 billion
last year. So, even though interest rates had dropped the ratio
hardly changed.
    The Cartagena group has called for the debt-trade link to
be recognized before, but has not made detailed proposals.
    Officials said initiatives discussed here would be
submitted to foreign and finance ministers of the 11 nations,
before IMF and World Bank annual meetings later this year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5789" NEWID="17451">
<DATE> 1-JUN-1987 02:13:20.80</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0102&#31;reute
f f BC-TOKYO-STOCK-INDEX-RIS   06-01 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>TOKYO STOCK INDEX RISES 91.19 POINTS TO RECORD CLOSING 24,992.78 - BROKERS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5790" NEWID="17452">
<DATE> 1-JUN-1987 02:19:36.44</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f0106&#31;reute
u f BC-U.S.-STUDY-SAYS-TARIF   06-01 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. STUDY SAYS TARIFFS AND QUOTAS COULD BACKFIRE</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>The use of tariffs and quotas to
reduce the flow of foreign goods into the United States will do
little to cut the nation's swelling trade deficit, a government
study said.
    In fact, the Federal Trade Commission (FTC) report said,
such protectionist policies could make U.S. Products less
competitive in the world marketplace by raising the cost of
imported products that are re-exported in different forms.
    "Such policies are much more likely to hurt, rather than
help, the productive capabilities of the U.S. Economy," it said.
    The 218-page report, written by FTC economists John Hilke
and Philip Nelson, blamed the rising trade shortfall, which
climbed to a record 166.3 billion dlrs last year, on shifting
currency exchange rates and growing U.S consumer demand.
    Other factors commonly blamed for the deficit, such as
foreign trade practices, deteriorating U.S. Industrial
competitiveness, high labour costs and government restrictions
on mergers, added little to the problem, it said.
    "Although each industry's competitiveness affects the level
of imports and exports in that industry, in general we find
that there have been no significant industry-specific changes
affecting competitiveness that would explain the increase in
the overall trade deficit," the study said.
    "To the extent any government action is needed to deal with
the trade deficits, policies should focus on economy-wide
phenomena such as exchange rates and relative economic growth,"
the FTC study said.
    Supporting its conclusion that broad-based economic shifts
were the cause of the increase in the trade deficit, the report
said it found that nearly all U.S. Industries lost some
domestic market share to foreign competitors in the 1980s.
    It also said it found a "fairly direct relationship" between
the increased trade deficit and the influence of shifting
currency exchange rates, U.S. Economic growth and domestic
demand for goods and services, which has outpaced foreign
consumer demand.
    The study examined seven factors which have been commonly
blamed for the trade deficit: foreign government subsidies and
trade barriers to protect foreign industries, a lack of
investment in U.S. Industry, declining research and development
in U.S. Industry, high labour costs, union work rules, the oil
prices rises of the 1970s and U.S. Antitrust regulations.
    In each case, the study found little or no evidence that
the factor had any impact on the trade deficit.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5791" NEWID="17453">
<DATE> 1-JUN-1987 02:26:26.39</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>usa</D><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0113&#31;reute
u f BC-TOSHIBA-HOPES-EXPORTS   06-01 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>TOSHIBA HOPES EXPORTS TO U.S. NOT HURT</TITLE>
<DATELINE>    TOKYO, June 1 - </DATELINE><BODY>A senior Toshiba Corp &lt;TSBA.T> executive
said he hoped the alleged illegal export of high technology
equipment to the Soviet Union by a Toshiba subsidiary would not
hurt the parent company's exports to the U.S.
    Toshiba's 50-pct subsidiary &lt;Toshiba Machine Co Ltd> "is a
completely independent company with independent management,"
Toshiba Corp senior vice-president Osamu Iemura told a press
conference.
    "We want to have that fact understood overseas," he said.
    Iemura said he had no information to suggest the U.S.
Defence Department had broken off talks with Toshiba on the
possible procurement of lap top computers because of the
illegal exports by Toshiba Machine.
    Kyodo News Agency, quoting the weekly magazine U.S. News
and World Report, said on Saturday the U.S. Air Force had
decided to cancel an agreement to buy 100 mln dlrs worth of
computers because of Toshiba Machine's illegal exports.
    "We have no contract. The U.S. Defence Department has been
negotiating for procurement with several companies including
Toshiba," Iemura said.
    Last week, police said they had arrested two Toshiba
Machine employees on suspicion of illegally exporting high
technology equipment to the Soviet Union.
    The Japanese government has already banned further
shipments of goods to Communist states by Toshiba Machine for
one year and by its export agency C. Itoh and Co Ltd &lt;CITT.T>
for three months.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5792" NEWID="17454">
<DATE> 1-JUN-1987 02:33:01.00</DATE>
<TOPICS></TOPICS>
<PLACES><D>israel</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI
&#22;&#22;&#1;f0117&#31;reute
u f BC-ISRAELI-BANK-SAYS-ELE   06-01 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>ISRAELI BANK SAYS ELECTION COULD HARM ECONOMY</TITLE>
<DATELINE>    JERUSALEM, June 1 - </DATELINE><BODY>Israel's central bank said in its
annual report the country made striking gains in 1986 under an
austerity program, but warned a national election campaign
could harm the economy.
    Elections are due by November 1988, but tension within the
government over a Middle East peace conference has led many
political analysts to predict the government may fall earlier.
    Bank of Israel governor Michael Bruno told a news
conference the austerity since July 1985 had balanced the
national budget for the first time in 15 years, and pushed
inflation from 400 pct a year to just below 20 pct in 1986.
    But Bruno warned that if politicians followed their past
practice of lifting customs duties and increasing government
subsidies on basic goods in order to curry public favour during
elections, the gains of the program could be lost.
    "The great success of the national unity government in
executing the economic programme ... Depends on its ability to
show proper judgement towards economic issues also when
elections are on the horizon," Bruno said.
    He blamed a 12 pct rise in real wages in 1986 for a sharp
increase in private consumption, and said higher pay was
harming attempts to push inflation to under 10 pct a year.
    "The lowering of inflation was one of the striking successes
of 1986," Bruno said.
    "It is important to note that in this area of economic
stability we still have to tread a delicate path to reach an
annualised inflation rate of 10 pct in the second half of this
year," he said. He added that this was achievable.
    The Bank's report said Israel's gross domestic product grew
by 2.2 pct in 1986. The business GDP, which most economists
view as a better indicator of economic growth, rose by 3.7 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5793" NEWID="17455">
<DATE> 1-JUN-1987 02:40:44.56</DATE>
<TOPICS><D>rubber</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M T C
&#22;&#22;&#1;f0122&#31;reute
u f BC-TOKYO-EXCHANGE-ALLOWS   06-01 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>TOKYO EXCHANGE ALLOWS MORE GOLD AND RUBBER BROKERS</TITLE>
<DATELINE>    TOKYO, June 1 - </DATELINE><BODY>The Tokyo Commodity Exchange for Industry
(TOCOM) said it will allow five more members to become precious
metal brokers, taking the total to 54, and four more members to
broke rubber, for a total of 39.
    An exchange official told Reuters the Ministry of
International Trade and Industry is expected to approve the the
new brokers by mid-June.
    The move has been under study since early May in response
to requests by non-broker members of the exchange.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5794" NEWID="17456">
<DATE> 1-JUN-1987 03:01:20.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI
&#22;&#22;&#1;f0138&#31;reute
u f BC-GERMAN-PRIMARY-BOND-M   06-01 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN PRIMARY BOND MARKET SEEN REVIVING IN JUNE</TITLE>
<AUTHOR>    By Alice Ratcliffe, Reuters</AUTHOR>
<DATELINE>    FRANKFURT, June 1 - </DATELINE><BODY>West Germany's eurobond market may
revive in June, after two month's relative dormancy, before
dozing off for the summer, bond market sources said.
    Syndicate managers said many borrowers, anticipating lower
West German interest rates, cancelled mandates during the last
two-week calendar, hoping borrowing costs would decline.
    Borrowers are likely to return as domestic interest rates
lose downward momentum, syndicate managers said. A
supranational issue via Westdeutsche Landesbank Girozcentrale
is likely today and Dresdner Bank AG could lead a new bond.
    New issue volume is likely to be helped by a recent
domestic legal change which indirectly lowered costs for
European Community state-backed borrowers, the sources said.
    A statutory change to the West German Exchange Admissions
Act, which went into effect on May 1, allows such borrowers to
file for bourse listing without a prospectus and without an
underwriting group. This saves them the 1/2 point listing fee
formerly paid to banks.
    The two most recent issues for Electricite de France, led
by Deutsche Bank AG, and Bank of Greece, led by Commerzbank AG,
were brought to market under the new law, managers said.
    Deutsche Bank confirmed that its bond was brought out in
conformance with the new law. Commerzbank had no comment.
    The success of Commerzbank's Bank of Greece deal,
especially for the shorter of the two tranches of five and
eight years, has also encouraged syndicate managers to bring
out new issues during the new calendar period.
    Many borrowers might also seek to get their bonds in before
the market enters its quiet summer phase, referred to by German
bond dealers as the "summer hole."
    But syndicate managers said there are also some factors
standing in the way of new issues.
    One negative factor is that current swap conditions for
marks into dollars are not favourable.
    Syndicate managers said the yield spread between domestic
Schuldschein notes and mark eurobonds is now too low to make
swaps profitable for eurobond borrowers.
    Low yields on domestic notes comparable to mark eurobonds
mean German banks can now borrow cheaply at domestic rates.
    They would charge a high premium to borrowers taking up
euromarks for swaps as banks have little incentive to take on
more expensive euromark liabilities at present.
    However, some foreign borrowers might anyway borrow in
marks out of a genuine need for the currency, managers said.
    Another factor which might dampen the primary market is
uncertainty about the dollar. Its rise last week over 1.80
marks helped send West German government bonds lower by nearly
one pfennig over the week.
    If the dollar looks poised to stabilize or rise further,
foreign investors in mark eurobonds could switch out of them on
the belief that gains from the mark's appreciation were ending,
dealers said.
    The dollar is expected to remain stable this week before
the seven leading nations begin their economic summit in Venice
on June 8.
    In May, a total of 1.1 billion marks of new mark eurobonds
were launched, compared with 1.0 billion in April.
    This compared with a relatively active March, when 2.3
billion marks of eurobonds were launched, and a very strong
February, when issues totalled nearly 5.0 billion.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5795" NEWID="17457">
<DATE> 1-JUN-1987 03:17:14.53</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f0162&#31;reute
u f BC-RENISON-GC-AND-CITY-R   06-01 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>RENISON GC AND CITY RESOURCES SET PNG GOLD VENTURE</TITLE>
<DATELINE>    SYDNEY, June 1 - </DATELINE><BODY>Renison Goldfields Consolidated Ltd
&lt;RGFJ.S> (RGC) and explorer &lt;City Resources Ltd> have agreed in
principle on a joint venture to re-examine the Bulolo alluvial
gold field in Papua New Guinea, City Resources said.
    City Resources would progressively earn up to 66.66 pct of
RGC's Prospecting Authority 585, which covers all the field, by
spending a total of 6.5 mln kina, it said in a statement.
    It said it believed Bulolo was not fully exploited in the
past, noting the literature refers to heavy gold losses in
tailings during dredging from 1931 to 1967 which produced a
total of 2.1 mln ounces.
    City Resources also said previous dredging was only carried
out to a depth of 36 metres and high grade gold values are
reported to at least 60 metres in the central part of the
Bulolo Valley and possibly as deep as 90 metres.
    In its productive life, recovered average grade at Bulolo
was 0.3 rpt 0.3 grams a tonne from some 207 mln cubic metres of
gravel, it said. City Resources will act as operator.
    The Bulolo field, in Morobe Province, was the first
successful gold mining operation of &lt;Placer Development Ltd>
after it was floated in Canada in 1926. It operated the field
until dredging ceased in 1967.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5796" NEWID="17458">
<DATE> 1-JUN-1987 03:32:40.20</DATE>
<TOPICS></TOPICS>
<PLACES><D>mexico</D><D>venezuela</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0177&#31;reute
u f BC-VENEZUELA-HAS-NO-PLAN   06-01 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>VENEZUELA HAS NO PLANS TO SEEK REVISED DEBT ACCORD</TITLE>
<DATELINE>    GUANAJUATO, Mexico, June 1 - </DATELINE><BODY>Venezuela has no plans to try
to renegotiate the debt rescheduling agreement it worked out
with creditor banks in February, public finance director Jorge
Marcano told Reuters.
    Speaking here after a meeting of the 11-nation Cartagena
group, Marcano said he was aware of political pressure at home
to reduce debt payments but did not think such a move would
benefit Venezuela.
    "We have no intention of revising the terms of the accord,"
he said. "There would be little to gain and in fact it would
probably be detrimental."
    Venezuela agreed with its bank advisory committee on a 14.5
year rescheduling of 20.3 billion dlrs in public sector foreign
debt, with an interest rate 7/8 pct over Libor. The previous
agreement, reached a year before but never implemented, was for
12-1/2 years with a 1-1/8 pct spread.
    In Caracas there have recently been calls to invoke the
agreement's contingency clause which the government used last
year to amend the original terms after a 40 pct drop in oil
income.
    But Marcano said the bulk of payments to be made this year
are on private debts and non-rescheduled public debts.
    Marcano said Venezuela, which has reduced its debt by six
billion dlrs since 1983, should have no problems in repaying
restructured debt this year or next.
    Asked whether the government felt badly treated with its
7/8 pct spread when Mexico and Argentina have won a 13/16 pct
margin, Marcano said he still felt Venezuela had a good deal.
    "Venezuela has restructured its debt so that most of it is
being repaid at 7/8 pct, which I think is better than the other
countries," he said. The rescheduling accord covers some 90 pct
of Venezuela's commercial bank debt, which accounts for more
than 90 pct of the total public sector external debt.
    Venezuela has almost no debt outstanding to multilateral
agencies.
    Marcano said attempting to revise the rescheduling accord a
second time would probably hurt Venezuela's bid to restore it
credit rating and raise new loans.
    He said Venezuela now obtains trade credit lines without a
government guarantee, something that Argentina and others are
just starting to try to negotiate in their restructuring
packages.
    Venezuela is currently seeking loans in Japan and West
Germany to finance steel and aluminium expansion.
    According to finance minister Manuel Azpurua, a 100 mln
mark credit has been lined up for the Venalum aluminium plant.
    Marcano said no mandate has yet been given for a planned
100 mln dlr bond issue, although he confirmed that talks were
continuing with Morgan Guaranty and other banks.
    Banking sources said one option was to privately place the
bonds through the Caracas-based Banco de Venezuela, which would
underwrite the issue, but Marcano said no decision has yet been
made.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5797" NEWID="17459">
<DATE> 1-JUN-1987 03:45:53.98</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI
&#22;&#22;&#1;f0202&#31;reute
f f BC-Japan-May-external-re   06-01 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Japan May external reserves hit record 68.94 billion dlrs (April 68.62 billion)
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5798" NEWID="17460">
<DATE> 1-JUN-1987 03:52:51.55</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0210&#31;reute
u f BC-TOSHIBA-FORECASTS-11   06-01 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>TOSHIBA FORECASTS 11 PCT RISE IN 1987/88 GROUP NET</TITLE>
<DATELINE>    TOKYO, June 1 - </DATELINE><BODY>Toshiba Corp &lt;TSBA.T> expects to report a
group net profit of 38 billion yen for the year ending March
31, 1988, up 11.2 pct from a year earlier, assuming an exchange
rate of 140 yen to the dollar, a company official said.
    Osamu Iemura, a senior vice president, told a news
conference sales are forecast at 3,500 billion yen, up 5.8 pct.
The forecasts are based on expectations of improved sales of
office automation equipment, a recovery in semiconductor market
prices and an increase in plant exports.
    Toshiba said earlier that 1986/87 group net profit fell
42.5 pct from a year earlier to 34.18 billion yen, the second
consecutive year-on-year drop. Sales fell 1.9 pct to 3,308
billion yen, the first year-on-year sales drop in 21 years.
    Iemura said the results reflected trade friction over
semiconductor exports to the U.S., The yen's sharp rise against
the dollar and a drop in exports to China.
    The 1986/87 foreign exchange loss totalled 145 billion yen,
including parent company losses of 120 billion.
    The average value of the yen against the dollar rose to 161
from 221 a year earlier, he added.
    Weaker prices for semiconductors and office automation
equipment cut total sales 245 billion yen, Iemura said.
    Group sales of telecommunication and electronic devices,
accounting for 36 pct of the total, rose five pct to 1,183
billion yen in 1987/88 from a year earlier, helped by good
sales of word processors, workstations, medical equipment,
point-of-sales systems and exports of personal computers.
    Semiconductor sales rose to 410 billion yen from 360
billion a year earlier but fell short of an expected 430
billion. Sales are expected to be 460 billion in 1987/88.
    Office automation equipment sales rose to 650 billion yen
in 1986/87 from 600 billion a year earlier, Iemura said. Sales
in 1987/88 are expected to be 695 billion yen, mainly due to
good sales of computers in Europe and to expectations the U.S.
Will remove its 100 pct import duty on computers.
    Sales of heavy electric goods, accounting for 26 pct of
sales, rose 0.2 pct from a year earlier to 868.14 billion yen.
    Home electronics sales fell 10 pct to 940.64 billion yen,
mainly due to the yen's appreciation against the dollar and a
drop in colour television exports to China, Iemura said.
    Overall 1986/87 overseas sales totalled 1,021 billion yen,
down three pct from a year earlier, Iemura said.
    Overseas sales of telecommunication and electronic devices
rose nine pct from a year earlier to 493.90 billion yen, helped
by a 80 pct year-on-year rise in computer and computer-related
equipment sales.
    Home appliance sales abroad fell 24 pct to 312.10 billion,
mainly due to the yen's appreciation, lower sales to China, and
increased competition with newly-industrialised countries.
    Toshiba reduced the number of divisions to three from four
in reaction to market changes, effective April 1.
    Group sales of telecommunication and electronic devices are
estimated at 1,520 billion yen in 1987/88, Iemura said.
    Home appliance sales are estimated at 1,260 billion yen and
heavy electric goods sales at 720 billion.
    Iemura said group exports to China are expected to rise to
90 billion yen in 1987/88 from 30 billion in 1986/87 due to an
increase in sales of generators.
    Sales to China were down from 70 billion yen in 1985/86 due
to a sharp drop in home appliance exports, he said.
    Group capital spending in 1987/88 will fall to 197 billion
yen from 213.30 billion in 1986/87, Iemura said.
    Of total capital spending, investment in semiconductors
will fall to 65 billion from 68 billion.
    Research and development spending will rise to 217 billion
yen from 201.10 billion, he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5799" NEWID="17461">
<DATE> 1-JUN-1987 03:56:52.77</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0212&#31;reute
u f BC-TORIES-MAINTAIN-LEAD   06-01 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>TORIES MAINTAIN LEAD 10 DAYS BEFORE U.K. ELECTION</TITLE>
<DATELINE>    LONDON, June 1 - </DATELINE><BODY>A public opinion poll showed Prime
Minister Margaret Thatcher's Conservatives maintaining their
lead over the opposition Labour party as Britain's June 11
general election campaign entered its third week. The poll,
conducted for TV-AM breakfast television by the Harris
organisation, put the Tories on 43 pct, Labour on 35 and the
centrist Social Democrat-Liberal Alliance on 20 pct.
    If translated into parliamentary seats in a general
election, Thatcher would enjoy an overall majority of 50.
    Since the general elections were announced on May 11,
Thatcher's Tories have maintained the lead.
    A survey of marginal seats for The Times of London, carried
out by the MORI organisation, showed that Thatcher would sweep
back in with an overall majority of l40 seats, the same margin
she enjoyed in the 1983 general elections.
    The Times poll of marginal seats where Labour is
challenging a Conservative incumbent -- and which it must win
in order to dislodge the Tories -- showed the Conservatives
with 42 pct, Labour with 34 and the Alliance on 23.
    If the result were repeated on polling day, Labour would
win only a handful of the marginal seats, giving Thatcher a
landslide.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5800" NEWID="17462">
<DATE> 1-JUN-1987 04:28:10.10</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>kuwait</D><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f0251&#31;reute
u f BC-MOSCOW-SAYS-WILL-RETA   06-01 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>MOSCOW SAYS WILL RETALIATE AGAINST GULF ATTACKS</TITLE>
<DATELINE>    KUWAIT, June 1 - </DATELINE><BODY>Any Iranian attack on Soviet ships in the
Gulf will bring a forceful and violent response, a Soviet
foreign ministry official said in an interview published here.
    Alexander Ivanov, head of the Gulf desk at the Soviet
Foreign Ministry, told Al-Rai al-Aam newspaper Moscow "will
answer back with force and violence if Iran attempts to attack
any Soviet ship or tanker in the Gulf." A Soviet tanker hit a
mine in the Gulf last month.
    Ivanov also accused the United States of stepping up the
regional crisis and of failing to exert genuine efforts to end
the Iran-Iraq war.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5801" NEWID="17463">
<DATE> 1-JUN-1987 04:35:29.58</DATE>
<TOPICS><D>gas</D></TOPICS>
<PLACES><D>singapore</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0257&#31;reute
u f BC-MOBIL-RAISES-SINGAPOR   06-01 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>MOBIL RAISES SINGAPORE PETROL PUMP PRICES</TITLE>
<DATELINE>    SINGAPORE, June 1 - </DATELINE><BODY>Mobil Oil Singapore Pte Lte will raise
pump prices of petrol from June 2, a spokeswoman said.
    Grade 97 octane with 0.15 gm lead will be 96.8 cents/litre
against 94 cents previously for 0.4 gm lead. Grade 92 octane
will be 90.2 cents against 87.6 previously.
    SPC earlier announced its pump prices of 96.8 cents and
90.6 cents for 97 and 92 octane, respectively, for 0.15 gm lead
petrol which is being sold in Singapore from today in line with
the Ministry of Environment's regulations.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5802" NEWID="17464">
<DATE> 1-JUN-1987 04:35:44.48</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f0258&#31;reute
f f BC-Lebanon-Prime-Ministe   06-01 0016</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE> Lebanon Prime Minister Karami dies of injuries, after helicopter attacked -official sources
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5803" NEWID="17465">
<DATE> 1-JUN-1987 04:38:49.95</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0259&#31;reute
u f BC-IBJ-AMORTIZES-LOANS-T   06-01 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>IBJ AMORTIZES LOANS TO JAPAN LINE</TITLE>
<DATELINE>    TOKYO, June 1 - </DATELINE><BODY>The Industrial Bank of Japan &lt;IBJT.T> (IBJ)
amortized 68 billion yen worth of loans, including the
write-off of an unspecified amount of loans, to the &lt;Japan Line
Ltd> group in the year ended March 31, an IBJ spokesman said.
    He declined to comment on a report in the economic daily
Nihon Keizai Shimbun that it had written off loans worth 15
billion yen to Japan Line, one of the world's largest tanker
operators.
    Japan Line's current liabilities amounted to 68.98 billion
yen at the end of September.
    In December, Japan Line asked its creditor banks to shelve
repayment of 124 billion yen of outstanding loans and about 153
billion in loans to its subsidiaries following the yen's steep
rise and the world recession in shipping.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5804" NEWID="17466">
<DATE> 1-JUN-1987 04:42:02.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>luxembourg</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0267&#31;reute
u f BC-RBC-FINANCE-RAISING-3   06-01 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>RBC FINANCE RAISING 300 MLN LUXEMBOURG FRANCS</TITLE>
<DATELINE>    LUXEMBOURG, June 1 - </DATELINE><BODY>RBC Finance BV, a wholly-owned
subsidiary of the Royal Bank of Canada, is to raise 300 mln
Luxembourg francs through a six-year, 7-3/8 pct private
placement, lead manager Banque Paribas (Luxembourg) SA said.
    The non-callable bullet issue is priced at par. Payment
date is June 16 and coupon date is June 17.
    The issue is co-managed by Banque Generale du Luxembourg
SA, Banque Internationale a Luxembourg SA, Kredietbank SA
Luxembourgeoise and Credit Europeen SA.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5805" NEWID="17467">
<DATE> 1-JUN-1987 04:43:50.83</DATE>
<TOPICS></TOPICS>
<PLACES><D>lebanon</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f0271&#31;reute
b f BC-LEBANESE-PRIME-MINIST   06-01 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>LEBANESE PRIME MINISTER KILLED BY HELICOPTER BOMB</TITLE>
<DATELINE>    BEIRUT, June 1 - </DATELINE><BODY>Lebanon's Prime Minister Rashid Karami
died from injuries after a bomb exploded in a helicopter flying
him to Beirut to the northern port of Tripoli, official sources
said.
    They said Karami, 66, died at a hospital in the Christian
town of Byblos north of Beirut.
    The bomb, which exploded under Karami's seat, also injured
Interior Minister Abdallah al-Rassi and the pilot, who made a
forced landing.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5806" NEWID="17468">
<DATE> 1-JUN-1987 04:44:00.47</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>bangladesh</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0272&#31;reute
u f BC-JAPAN-EXTENDS-24-BILL   06-01 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN EXTENDS 24 BILLION YEN LOAN TO BANGLADESH</TITLE>
<DATELINE>    DHAKA, June 1 - </DATELINE><BODY>Japan has extended a 24 billion yen loan to
Bangladesh, Finance Ministry officials said.
    The loan, to be disbursed over two years from next July, is
for chemicals, cement, steel and machinery imports and for
setting up a power plant in eastern Sylhet district, they said.
Terms were not disclosed.
    The credit brings total Japanese loans and grants to
Bangladesh to 441.25 billion yen since 1972, they said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5807" NEWID="17469">
<DATE> 1-JUN-1987 04:48:03.41</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0276&#31;reute
u f BC-POORER-CURRENT-PROFIT   06-01 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>POORER CURRENT PROFITS SEEN FOR JAPAN FIRMS</TITLE>
<DATELINE>    TOKYO, June 1 - </DATELINE><BODY>Poor returns by oil refiners and utilities
will drag down average current profits of major Japanese firms
in the year ending March 31, Wako Research Institute said.
    Current profits will drop an average 13.5 pct after a 7.3
pct drop in 1986/87, it said.
    Oil refiners and utilities face a sharp profit fall after
two years of high profits due to the yen's strength, lower
world oil prices and reduced interest rates, it said.
    Sales of all firms are expected to rise 2.3 pct from the
previous year when they fell 11.9 pct from a year earlier.
    The independent institute surveyed 436 firms listed in the
first section of the Tokyo Stock Exchange, excluding banks and
insurance firms. Excluding the oil refiners and utilities, Wako
forecasts that current profits will rise 3.7 pct after a 22.3
pct drop in 1986/87 and a 19.5 pct drop in 1985/86.
    Electric power firms and gas companies are likely to see
42.5 and 31.6 pct falls in current profits respectively in
1987/88 due to cuts in utility prices to recycle windfall
profits made during the yen's rise against the dollar, and due
to the recent recovery in world oil prices, the institute said.
    Current profits of manufacturing industries will rise an
average seven pct after a 29.7 pct drop in 1986/87 and a 25.0
pct drop in 1985/86, Wako said.
    An increase in overseas production and an expected increase
in domestic demand will cause the recovery in manufacturing
sector profits, it said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5808" NEWID="17470">
<DATE> 1-JUN-1987 04:48:27.24</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>kuwait</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0277&#31;reute
u f BC-WINDOW-FOR-BANK-AID-I   06-01 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>WINDOW FOR BANK AID IN KUWAIT REMAINS SHUT</TITLE>
<DATELINE>    KUWAIT, June 1 - </DATELINE><BODY>The Kuwait Central Bank kept its window
for funds to the domestic interbank deposit market shut as
banks returned from a four day holiday, dealers said.
    The move drove short-term interest rates sharply higher,
with overnight and tomorrow-next funds more than doubling from
last Wednesday and hitting 20 pct.
    There were few offers in a tight market and traders
scrambled for any available funds. One-month to one-year
deposits were indicated one point higher at eight, seven pct
but there was little activity at the longer end of the market.
    Bankers see the suspension of central bank aid as a
deliberate move to drive up Kuwaiti dinar interest rates and
stem a flow of funds out of the country, where market
nervousness is increasing over the growing tension in the Gulf.
    The central bank's move has been combined with a steady cut
in the dinar exchange rate.
    Today's rate was reduced to 0.27939/73 to the dollar from
0.27758/92 on Wednesday before the four day bank holiday that
celebrated the end of the fasting month of Ramadan.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5809" NEWID="17471">
<DATE> 1-JUN-1987 04:51:29.57</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0283&#31;reute
u f BC-SKYLARK-TO-ISSUE-20-B   06-01 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>SKYLARK TO ISSUE 20 BILLION YEN CONVERTIBLE BOND</TITLE>
<DATELINE>    TOKYO, June 1 - </DATELINE><BODY>Skylark Co Ltd &lt;SKLK.T> said it will issue
a 20 billion yen nine-year unsecured convertible bond in the
domestic capital market through public placement with Nomura
Securities Co Ltd as lead manager.
    Coupon and conversion price for par-priced bond maturing
June 28, 1996, will be set at its board meeting to be held in
mid-June and payment is due on July 1, the company said in a
statement. Skylark's share price fell 10 yen to 2,880 on the
Tokyo Stock Exchange today.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5810" NEWID="17472">
<DATE> 1-JUN-1987 04:58:41.89</DATE>
<TOPICS><D>gas</D></TOPICS>
<PLACES><D>singapore</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0288&#31;reute
u f BC-SHELL,-CALTEX,-BP-REV   06-01 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>SHELL, CALTEX, BP REVISE SINGAPORE PETROL PRICES</TITLE>
<DATELINE>    SINGAPORE, June 1 - </DATELINE><BODY>Shell Eastern Pte Ltd will revise pump
prices of petrol from 2300 hours local while Caltex Asia Ltd
and BP Singapore Pte Ltd will revise theirs at midnight
tonight, company officials said.
    Caltex and Shell will set prices of 0.15 gm lead at 96.8
cents/litre for 97 octane and 90.2 cents for 92 octane. BP will
set prices at 96.8 cents/litre and 90.6 cents, respectively.
Previous industry pump prices for 0.4 gm lead were 94 cents for
97 octane and 87.6 cents for 92 octane.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5811" NEWID="17473">
<DATE> 1-JUN-1987 05:00:15.68</DATE>
<TOPICS><D>fuel</D></TOPICS>
<PLACES><D>bangladesh</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0295&#31;reute
u f BC-BANGLADESH-TO-IMPORT   06-01 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>BANGLADESH TO IMPORT 60,000 TONS OF DIESEL FROM USSR</TITLE>
<DATELINE>    DHAKA, June 1 - </DATELINE><BODY>Bangladesh will import 60,000 tons of high
speed diesel oil from the Soviet Union under a barter agreement
signed here last week, Bangladesh petroleum Corporation
officials said.
    The oil worth about 10 mln U.S. Dlrs will be shipped by
December this year, they added but did not say what Bangladesh
would sell in return to the Soviet Union.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5812" NEWID="17474">
<DATE> 1-JUN-1987 05:02:05.63</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0302&#31;reute
r f BC-GERMAN-CAR-FIRMS-SEEN   06-01 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN CAR FIRMS SEEN PRODUCING SOLID 1987 RESULTS</TITLE>
<AUTHOR>    By Anthony Williams, Reuters</AUTHOR>
<DATELINE>    BONN, June 1 - </DATELINE><BODY>The West German car industry celebrated its
100th birthday with a record-breaking 1986 performance at home
and is due to turn in another set of solid results in 1987.
    But share market analysts warn it faces continued problems
from the strong German mark and predict increasingly aggressive
competition in Europe from the Japanese.
    On the plus side for the industry, which is West Germany's
biggest foreign exchange earner, the analysts are confident the
technical superiority and innovative qualities of the luxury
producers will help them maintain a strong market profile.
    Most analysts thought Daimler-Benz AG &lt;DAIG.F> would do
best this year but expected Dr. Ing. H.C.F. Porsche AG &lt;PSHG.F>
to continue its slide because of the weak U.S. Dollar.
    They were generally optimistic for Bayerische Motoren Werke
AG &lt;BMWG.F> (BMW) but some were sceptical it could match record
1986 profits. Views were mixed on Volkswagen AG &lt;VOWG.F>, but
some analysts took comfort from the fact that Europe's leading
car maker had apparently put a major currency scandal behind
it.
    VW could be vulnerable as Japanese exporters, suffering
from the strength of the yen against the dollar, switched their
sales offensive from the U.S. To Europe, they said.
    Analyst Joseph Rooney with brokers James Capel in London,
noted the Japanese drive was coming at a time when the whole
European market was expected to contract slightly.
    But analysts saw most German manufacturers meeting the
challenge, even though the Japanese were now starting to focus
on the up-market sector.
    BMW's chairman Eberhard von Kuenheim shrugged off the
Japanese drive in an interview with Wirtschaftswoche magazine."I
view the move by the Japanese into the top class with a certain
equanimity. Not only are we playing on home turf, we also have
technical superiority," he said.
    The car industry benefitted last year from clarification of
domestic rules on low-pollution cars, which meant orders put
off in 1985 were carried out the following year. Tax cuts
generally boosted domestic demand, especially for cars.
    Domestic registrations leapt by nearly 19 pct to a record
2.8 mln cars. The VDA industry association says this might ease
to 2.7 mln in 1987, but predicts another good year.
    Looking to the future, Daimler has designated 16 billion
marks for car sector spending in the next five years. Chairman
Werner Breitschwerdt says spending is not aimed at quantity but
improving high quality technology and accessories.
    Analyst Stephen Reitman with Phillips and Drew in London,
said Daimler had the best earnings profile of West German
producers, with group profits per share rising to 80 marks from
78.8 in 1986.
    Analysts were more cautious about VW. Reinhard Fischer with
Bank in Liechtenstein (BiL) in Frankfurt saw VW's group
earnings per share falling to 35 marks in 1987 from 42 in 1986.
A recent report from his bank said last year's currency losses
were a sign of mismanagement.
    It stressed heavy losses from VW's Brazilian operations and
its Spanish unit, SEAT.
    VW's first quarter figures also highlighted problems in
both the U.S. And Brazil, analysts said.
    VW reported flat first quarter earnings, except for a 39.2
pct fall in U.S. Sales and Brazilian sales which dived 46.5
pct.
    Reitman was more optimistic than BiL about VW's 1987 group
earnings and, predicting an improvement in both Spain and
Brazil, he saw an unchanged 42 marks per share, ,
    He also said that VW now stood to benefit from not hedging
against foreign exchange fluctuations.
    In a May 1 study, he wrote: "One point in VW's favour is
that its extraordinary policy of not hedging forward has meant
that it will have less far to go in adjusting to current
DM/Dollar rates than the other German manufacturers who were to
a lesser or greater extent protected up to 1986."
    Reitman was also reassured by the apparent end of the
currency scandal, where allegedly faked forward contracts were
not acknowledged by VW's banks. VW fixed final losses from the
fraud at 473 mln marks for which provisions were made in 1986.
    VW's new Audi 80, a sporty model which German media reports
say was designed to jazz up Audi's staid "Grandpa" image,
contributed significantly to VW's first quarter performance.
The 80 doubled its sales against the year-ago level.
    But the Audi range as a whole has suffered a huge setback
in the U.S. Because of an image problem linked to claims of
"unintentional acceleration."
    Von Kuenheim won't be pinned down on BMW's 1987 profits,
but at a news conference he emphasised 1986 earnings were a
record high. Without referring to 1987, he added: "If profits
are less in one year or the other they will still be good."
    Rooney said group profits per share, which BMW does not
publish, would rise to 62.5 marks this year. Some analysts put
the 1986 group profit at 60 marks, a figure BMW does not deny.
    But Reitman was more pessimistic, predicting 50 marks per
share in 1987, and a return to 60 next year. He said: "BMW will
be the story of 1988," when it plans to launch an updated
version of its Five series.
    BMW also has a big investment programme under way and Bil's
Fischer said depreciations could affect earnings. Other
analysts pointed to possible hedging problems and Reitman noted
a 2.10 marks to the dollar hedge expired this September.
    Reitman said the outlook for Porsche was bearish for the
year to end-July, 1987. Porsche's 1985/86 group profits at 84
marks per share fell 30 pct from the record 120 marks in
1984/85 and Reitman saw 60 marks in 1986/87.
    "With the U.S. Currently accounting for 63 pct of unit sales
(this is expected to fall to 60 pct in the full year 1986/87)
Porsche's earnings remain uncomfortably exposed to the
DM/dollar relationship," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5813" NEWID="17475">
<DATE> 1-JUN-1987 05:07:55.27</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0317&#31;reute
u f BC-BAA-PLC-UNIT-WINS-KAN   06-01 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>BAA PLC UNIT WINS KANSAI AIRPORT CONTRACT</TITLE>
<DATELINE>    TOKYO, June 1 - </DATELINE><BODY>&lt;British Airport Services Ltd> (BAS) has
concluded an 18 mln yen contract with the &lt;Kansai International
Airport Co Ltd> for consulting work on the terminal at a new
airport to be built in western Japan, the airport company said
in a statement.
    The contract is the first to be awarded to a British
company and follows the award of a 200,000 dlr consultancy
contract to a division of the U.S-based &lt;Bechtel International
Corp> in consortium with six Japanese companies, a company
spokesman told Reuters. BAS is a subsidiary of &lt;BAA Plc>, the
former British Airports Authority.
    The six-billion dlr project to build the airport has been a
major source of friction with the U.S. And the European
Community who have put pressure on Japan to allow foreign
companies to compete with domestic firms in building it.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5814" NEWID="17476">
<DATE> 1-JUN-1987 05:11:16.43</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0324&#31;reute
b f BC-GOODMAN-FIELDER-UNIT   06-01 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>GOODMAN FIELDER UNIT ISSUES 75 MLN STG CONVERTIBLE</TITLE>
<DATELINE>    LONDON, June 1 - </DATELINE><BODY>Goodman Fielder U.K. Plc is issuing a 75
mln stg convertible eurobond due July 4, 1997 with an indicated
coupon of five to 5-1/4 pct and par pricing, lead manager
Credit Suisse First Boston Ltd said.
    The issue is guaranteed by Goodman Fielder Ltd and final
terms will be set on, or before, June 5. The issue is callable
at 106 pct declining by one pct per annum to par thereafter but
is not callable until 1992 unless the share price exceeds 130
pct of the conversion price.
    The selling concession is 1-1/2 pct while management and
underwriting each pay 1/2 pct.
    The issue has an investor put option in 1992 which will be
priced to give a yield of approximately 8-3/4 pct. The expected
conversion premium is 20 to 24 pct.
    The issue is available in denominations of 1,000 stg and
will be listed in London. The payment date is June 24 and there
will be a long first coupon period. The conversion period is
from July 4, 1987 until June 26, 1997.
    Over the weekend, Goodman Fielder announced in Sydney that
it had signed for a 100 mln U.S. Dollar composite revolving
euronote issuance facility to be launched in Hong Kong.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5815" NEWID="17477">
<DATE> 1-JUN-1987 05:18:59.85</DATE>
<TOPICS><D>veg-oil</D><D>coconut</D><D>copra-cake</D><D>meal-feed</D><D>palm-oil</D><D>coconut-oil</D></TOPICS>
<PLACES><D>philippines</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f0337&#31;reute
u f BC-PHILIPPINE-COCONUT-CH   06-01 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILIPPINE COCONUT CHIEF TO LOBBY AGAINST EC TAX</TITLE>
<AUTHOR>    By Chaitanya Kalbag, Reuters</AUTHOR>
<DATELINE>    MANILA, June 1 - </DATELINE><BODY>Philippine Coconut Authority (PCA)
chairman Jose Romero said he would visit Brussels later this
month to lobby against a proposed 100 pct European Community
(EC) levy on vegetable oil imports.
    "I intend to visit Brussels and talk to whoever is putting
up this devilish scheme to impoverish third world countries
like the Philippines," Romero said in an interview.
    He said he did not know how much support the levy had
within the EC but he said he believed those originally opposed
to the tax were under pressure to change their position.
    Romero said a group of EC members led by West Germany, the
Netherlands, Denmark and Norway were opposed to the tax. But
there was a danger some of them would be persuaded to change
sides, and if that happened opposition could crumble.
    Romero said another threat to exports lay in an EC warning
that copra meal cake used in livestock feeds contained
dangerous levels of aflatoxin, a carcinogenic chemical.
    He said the EC standard of 0.02 parts of aflatoxin per
million parts of meal, which EC countries had been asked to
apply by October 1988, was too rigid. He said Philippine copra
cake contained much higher levels of aflatoxin.
    Aflatoxin comes from moulds which develop in copra when it
is not properly dried or ground.
    Romero said he would tell big buyers of copra meal in
London that the Philippines was doing its best to meet EC
standards. It was also trying to eliminate aflatoxin totally,
but this was likely to take several years of research.
    Copra meal exports were 817,641 tonnes or 35 pct of total
coconut exports in 1986. The meal was worth 73.5 mln dlrs.
    Romero said he would also visit Oxford University's
department of agricultural economics to discuss ways of
avoiding the copra process altogether.
    "There are ways of producing coconut products outside of
copra," Romero said. "We can process fresh coconut without drying
the meat in the sun. Through the wet process we can process
coconuts into other food or non-food products, or we can go to
the chemical root."
    He said there was a tendency for agricultural countries to
become more protectionist and he expected export prices of
coconut products to drop.
    "In the long term we will be getting less and less for more
and more production, and I'm not comfortable with that," he
said.
    With countries like Indonesia and Malaysia stepping up
production of palm oil, a coconut oil substitute, palm oil
output had risen nearly 70 pct since 1971, Romero said.
    "To add to that the U.S. Soybean Association is spending
billions of dollars to discredit palm oil and coconut oil by
saying that they are polysaturated fats and bad for the heart,"
he said.
    Romero said he expected coconut product export prices to
stay up for the rest of the year. They would probably touch a
high of 20 cents/pound from the current level of 18.59 cents,
and a sharp rise from year-ago levels of 10.50 cents.
    Romero said the Philippines was at the end of a five-year
coconut production cycle which showed production tended to fall
after two successive years of good harvests.
    He said 1985 and 1986 were good harvests and this year, to
add to the production fall, drought had affected output.
    "Traders are stocking up and when they have overbought the
prices will start declining again. The only sure way to keep
prices stable is by processing, adding more value," he said.
    Coconut farmers were being encouraged to intercrop by
planting other cash crops between coconut trees, he said.
    "A typical farm may have from 100 to 150 trees sitting on
10,000 square metres of land. That's a lot of space," Romero
said. He said the government's proposed land reform program
would exclude about 75 pct of the coconut farmers because they
had less than the proposed seven-hectares of land.
    "If the idea of land reform is to increase income levels,
production and employment then it won't happen," he said.
    PCA figures show about one-third of the country's
population is dependent on the coconut industry.
    Coconuts are planted on about 3.2 mln hectares or
one-fourth of total agricultural land.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5816" NEWID="17478">
<DATE> 1-JUN-1987 05:25:17.68</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>opec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM Y
&#22;&#22;&#1;f0348&#31;reute
u f BC-PEMEX-OFFICIAL-SAYS-O   06-01 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>PEMEX OFFICIAL SAYS OPEC OUTPUT CRITICAL TO PRICE</TITLE>
<DATELINE>    TOKYO, June 1 - </DATELINE><BODY>Crude oil prices could remain around 18
dlrs a barrel until the end of the year, but OPEC's decision on
output at its next meeting would be the critical factor, an
official of Mexico's state oil company, Petroleos Mexicanos
(Pemex), told a group of Japanese businessmen.
    Adrian Lajous, Pemex' executive vice president of
international trade, said current OPEC output already appeared
to be very near the 16.6 mln barrel per day level it set itself
for the third quarter. "Production is surging ahead of what was
originally planned, while demand is growing more slowly than
envisaged a few months ago," he said.
    He said OPEC had to look very carefully at what level of
production in the third quarter would effectively sustain the
18 dlrs price, and that an increase to what had originally been
envisaged might soften price levels.
    The 13-member cartel is scheduled to meet on June 25 in
Vienna to review its December accord on prices and output.
    "I hope OPEC will follow a very conservative attitude in
terms of volume decisions," Lajous said.
    A repetition of what happened last year, when OPEC boosted
output and sent oil prices tumbling down below 10 dlrs, is
always there as a possibility, he said.
    "I hope never again to go through the trauma of 1986. I
expect other oil exporters have learned their lessons and
discipline will be maintained," he said.
    Lajous said there was still excess supply and as long as
this remains there will be a tendency to instability in oil
markets, but prices should remain around 18 to 19 dlrs during
1987 if output remains under control.
    He said Saudi King Fahd's remarks last month, that
increased production was not so important as long as incomes
would not be affected by the output, were "very relevant and
welcome from such a powerful producer."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5817" NEWID="17479">
<DATE> 1-JUN-1987 08:20:34.59</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0709&#31;reute
r f BC-CONISTON-GROUP-TO-CON   06-01 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>CONISTON GROUP TO CONTINUE BID FOR ALLEGIS &lt;AEG></TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>An investor group led by Coniston
Partners said it plans to continue its effort to gain control
of Allegis Corp despite the defensive maneuvers Allegis
announced last week.
    Allegis said then that it would borrow three billion dlrs
and pay shareholders a dividend of 60 dlrs per share, lowering
the company's net worth. The Coniston group, which owns 13 pct
of Allegis stock, has said that it would seek shareholder
consents to remove 13 of the 16 Allegis directors. The group
had said it would consider breaking up Allegis into its
airline, hotel and vehicle rental components if it succeeded.
    The Coniston group said it expects to make a further
announcement today on its plans for Allegis.
    Wall Street analysts and traders had not expected Coniston
to abandon its pursuit of Allegis as a result of the Allegis
defensive measures.
    Allegis officials were unavailable for comment.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5818" NEWID="17480">
<DATE> 1-JUN-1987 08:28:31.04</DATE>
<TOPICS><D>zinc</D><D>lead</D><D>strategic-metal</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f0724&#31;reute
zb f BC-/COMINCO-LEAD/ZINC-UN   06-01 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>COMINCO LEAD/ZINC UNION REJECTS CONTRACT</TITLE>
<DATELINE>    TRAIL, BRITISH COLUMBIA, June 1 - </DATELINE><BODY>Three United Steelworkers
of America locals on strike at Cominco Ltd rejected a tentative
three-year contract, a union representative said.
    "The vote was 1,229, or 54.5 pct, against, and 1,028, or
45.5 pct, for the contract. Eighty-one pct of the membership
voted," he said.
    The union representative said that the pact offered cost of
living increases designed to keep pace with inflation, but
contained no wage increase.
    The locals' bargaining committees are expected to meet and
prepare for the reopening of negotiations with Cominco, he
said.
    The three locals cover about 2,600 production and
maintenance workers at Cominco's Trail smelter and Kimberley,
B.C. lead-zinc mine.
    Output at both sites has been shut down since the
production and maintenance workers, along with about 600 office
and technical workers, went on strike May 9.
    The two Steelworkers locals representing the office and
technical workers have not negotiated since May 21.
    The strike caused Cominco to declare force majeure, which
means the company may not be able to honor contracts for
products from the smelter and mine.
    Each of the five locals have separate contracts, all of
which expired April 30, but the main issues are similar.
    The union had requested a three pct wage increase in each
year of a two-year contract. Cominco had pressed for a
three-year contract and some loosening of the rules on job
classifications.
    The Trail smelter, about 400 miles east of Vancouver,
produced 240,000 long tons of zinc and 110,000 long tons of
lead last year. The Sullivan mine at Kimberley, about 450 miles
east of Vancouver, produced 2.2 mln long tons of ore last year,
most for processing at the Trail smelter.
    The smelter also produced cadmium, bismuth and indium.
    Revenues from the Trail smelter totalled 356 mln Canadian
dlrs in 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5819" NEWID="17481">
<DATE> 1-JUN-1987 08:30:25.79</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0728&#31;reute
f f BC-******SPECTRA-PHYSICS   06-01 0008</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>SPECTRA-PHYSICS REJECTS CIBA-GEIGY TENDER OFFER
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5820" NEWID="17482">
<DATE> 1-JUN-1987 08:30:40.70</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0730&#31;reute
u f BC-COMPAQ-COMPUTER-&lt;CPQ>   06-01 0037</UNKNOWN>
<TEXT>&#2;
<TITLE>COMPAQ COMPUTER &lt;CPQ> CUTS PORTABLE II PRICES</TITLE>
<DATELINE>    HOUSTON, June 1 - </DATELINE><BODY>Compaq Computer Corp said it has cut
prices on its PORTABLE II models 2 and 4 to 2,699 dlrs from
2,999 dlrs and to 3,999 dlrs from 4,499 dlrs respectively.
 reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5821" NEWID="17483">
<DATE> 1-JUN-1987 08:31:09.31</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0734&#31;reute
u f BC-KAYPRO-&lt;KPRO.O>-CUTS   06-01 0036</UNKNOWN>
<TEXT>&#2;
<TITLE>KAYPRO &lt;KPRO.O> CUTS PRICES ON COMPUTERS</TITLE>
<DATELINE>    SOLANA BEACH, Calif., June 1 - </DATELINE><BODY>Kaypro Corp said it has cut
prices on its Kaypro 386 Models A and E supermicrocomputers and
Extra! Extra! desktop pulbishing system by 500 dlrs.
    The Kaypro 386 Model A will retail for 4,495 dlrs, and the
Kaypro 386 Models E-40 and E-130 will sell for 5,795 dlrs and
8,095 dlrs, respectively, the company said.
    The Kaypro 386, Model E is available with eithe a 40 or 130
MB hard disk, the company said.
    In addition, the Kaypro Extra! Extra! will be reduced to
7,995 dlrs, and the Kaypro 16E, a transportable, IBM
PC-compatible computer, now retails for 1,595 dlrs, and the
dual floppy Kaypro 162E is 1,395 dlrs, Kaypro said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5822" NEWID="17484">
<DATE> 1-JUN-1987 08:35:41.08</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0761&#31;reute
f f BC-******FIRST-CITY-INDU   06-01 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FIRST CITY INDUSTRIES SELLS YALE AND NUTONE UNITS FOR 400 MLN DLRS AND SECURITIES
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5823" NEWID="17485">
<DATE> 1-JUN-1987 08:38:27.91</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D><D>norway</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0768&#31;reute
u f BC-NORWAY'S-RS-BANK-ISSU   06-01 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>NORWAY'S RS BANK ISSUES 40 MLN SWISS FRANC BOND</TITLE>
<DATELINE>    GENEVA, June 1 - </DATELINE><BODY>RS Bank Sparebanken Rogaland of Stavanger,
Norway is launching a 40 mln Swiss franc seven year bond with a
4-7/8 pct coupon and par issue price, lead manager Banque
Gutzwiller, Kurz, Bungener Ltd said.
    Subscription is from June 11 until June 17 with closing and
pay-out on July 7.
    It can be called at 101 in 1992, and at 100-1/2 in 1993.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5824" NEWID="17486">
<DATE> 1-JUN-1987 08:40:12.93</DATE>
<TOPICS><D>lead</D><D>zinc</D><D>strategic-metal</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f0773&#31;reute
r f BC-cominco-   06-01 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>COMINCO &lt;CLT.TO> UNION REJECTS CONTRACT</TITLE>
<DATELINE>     Trail, British Columbia, June 1 - </DATELINE><BODY>Three United
Steelworkers of America locals on strike at Cominco Ltd
rejected a tentative three-year contract, a union
representative said.
     "The vote was 1,229, or 54.5 pct, against, and 1,028, or
45.5 pct, for the contract. Eighty-one pct of the membership
voted," he said.
     The union representative said that the pact offered cost
of living increases designed to keep pace with inflation, but
contained no wage increase.       
    The locals' bargaining committees are expected to meet and
prepare for the reopening of negotiations with Cominco, he
said.
     The three locals cover about 2,600 production and
maintenance workers at Cominco's Trail smelter and Kimberley,
B.C. lead-zinc mine.
     Output at both sites has been shut down since the
production and maintenance workers, along with about 600 office
and technical workers, went on strike May nine.     
     The two Steelworkers locals representing the office and
technical workers have not negotiated since May 21.
     The strike caused Cominco to declare force majeire, which
means the company may not be able to honor contracts for
products from the smelter and mine.
    Each of the five locals have separate contracts, all of
which expired April 30, but the main issues are similar.       

     The union had requested a three pct wage increase in each
year of a two-year contract. Cominco had pressed for a
three-year contract and some loosening of the rules on job
classifications.
     The Trail smelter, about 400 miles east of Vancouver,
produced 240,000 long tons of zinc and 110,000 long tons of
lead last year. The Sullivan mine at Kimberley, about 450 miles
east of Vancouver, produced 2.2 mln long tons of ore last year,
most for processing at the Trail smelter.
     The smelter also produced cadmium, bismuth and indium.
     Revenues from the Trail smelter totalled 356 mln Canadian
dlrs in 1986.        
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5825" NEWID="17487">
<DATE> 1-JUN-1987 08:43:14.04</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0781&#31;reute
f f BC-******BOEING-CO-TO-AC   06-01 0009</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BOEING CO TO ACQUIRE ARGOSYSTEMS FOR 37 DLRS A SHARE
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5826" NEWID="17488">
<DATE> 1-JUN-1987 08:47:35.27</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0790&#31;reute
u f BC-FIRST-CITY-&lt;FCY>-SELL   06-01 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST CITY &lt;FCY> SELLS YALE, NUTONE UNITS</TITLE>
<DATELINE>    BEVERLY HILLS, Calif., June 1 - </DATELINE><BODY>First City Industries Inc
said it has reached a definitive agreement to sell its Nuton
and Yale security subsidiaries to Valor PLC for 400 mln dlrs
and warrants to purchase two mln Valor ordinary shares.
    In addition, the company said it will recieve a special
dividend of 60 mln dlrs from Nutone and Yale and it has agreed
to buy 35 mln dlrs of Valor convertible preference shares.
    First City said it is seeking to increase shareholder
values by improving and realizing the values inherent in its
operating subsidiaries.
    The company said the transaction is subject to approval by
shareholders of Valor and is expected to be completed within 40
days.
    It said Valor has arranged financing through an issue of
ordinary and convertible preference shares underwritten by
Hoare Govette Ltd and Barclays de Zoete Wedd Ltd.
    Nutone makes built-in electric products for the housing
market and Yale makes door locks and electronic security
products.
    Valor makes home products.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5827" NEWID="17489">
<DATE> 1-JUN-1987 08:50:51.31</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0795&#31;reute
r f BC-GENOVESE-DRUG-STORES   06-01 0027</UNKNOWN>
<TEXT>&#2;
<TITLE>GENOVESE DRUG STORES INC &lt;GDXA.O> 1ST QTR MAY 22</TITLE>
<DATELINE>    MELVILLE, N.Y., June 1 -
    </DATELINE><BODY>Shr 23 cts vs seven cts
    Net 911,000 vs 293,000
    Sales 88.1 mln vs 74.8 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5828" NEWID="17490">
<DATE> 1-JUN-1987 08:51:41.01</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f0796&#31;reute
r f BC-U.S.-CORPORATE-FINANC   06-01 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. CORPORATE FINANCE - FINANCING SURGE SEEN</TITLE>
<AUTHOR>    By John Picinich, Reuters</AUTHOR>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>U.S. corporate treasurers are expected
to race to market this week, propelled by hopes that the recent
recoveries of the Treasury market and the dollar will whet
investors' appetities for new issues, underwriters said.
    Underwriters expect to price about 2.3 billion dlrs of new
debt issues this week, including an asset-backed debt deal.
    "Treasurers have been sitting on the sidelines for weeks,
waiting to pounce," said an underwriter with a large Wall
Street house. "They will hit the market at a fast pace as long
as the dollar remains stable."
    "The financing calendar is the heaviest it has been in
weeks," said a trader with a small securities firm.
    "And there are billions of dollars on the SEC shelf that
can come to market at any time," he said, referring to company
debt filings with the Securities and Exchange Commission.
    Investment bankers said last week signaled a surge in
financings. New debt offerings rose to nearly 2.8 billion dlrs
during the holiday-shortened week from 2.09 billion dlrs in the
previous week, they calculated.
    "And most of (last week's) issues were not even on the
calendar," an underwriter remarked.
    Analysts noted that in the past few months the fixed-income
markets became virtually obsessed with the dollar. The
currency's sharp drop ignited fears that foreign investors
would shun dollar-denominated debt vehicles.
    Also, many participants believed inflation would gather
momentum because of the dollar's fall. Inflation is the number
one enemy of fixed-rate investments, analysts explained.
    But the dollar's recovery last week calmed worries in the
Treasury and corporate bond markets over foreign investor
demand and inflation. The resulting decline in yields should
bring company treasurers to market, traders said.
    Underwriters are slated to bid competitively tomorrow for
250 mln dlrs of first mortgage bonds due 2017 of Georgia Power
Co, a unit of Southern Co &lt;SO>. The issue is rated Baa-1 by
Moody's Investors and BBB-plus by Standard and Poor's.
    This would be Georgia Power's first bond issue in the U.S.
since August 1986 when it sold 250 mln dlrs of same-rated,
same-maturity 10 pct bonds yielding 250 basis points more than
comparable Treasury securities.
    Tomorrow will see another competitive. Syndicates will bid
for 100 mln dlrs of 30-year bonds rated A-1/A-plus of Virginia
Electric and Power Co, a unit of Dominion Resources Inc &lt;D>.
    Virginia Electric last visited the domestic debt market in
October 1986 when the utility issued 100 mln dlrs of
same-rated, same-maturity 9-1/4 pct bonds. The bonds were
priced to yield 9.27 pct, or 141 basis points over Treasuries.
    The biggest investment grade deal tentatively scheduled for
pricing this week is 600 mln dlrs of securities due 1992 backed
by the automobile loan receivables of Marine Midland Banks
&lt;MM>. Salomon Brothers Inc will head the syndicate.
    The Marine Midland issue follows last week's offering of
230 mln dlrs of car loan backed debt by RepublicBank Dallas NA,
a unit of RepublicBank Corp &lt;RPT>, underwriters noted.
    Goldman, Sachs and Co led the group for the RepublicBank
deal. First Boston Corp and Salomon Brothers, the most active
underwriters of asset-backed securities, were co-managers.
    First Boston has dominated the asset-backed market since
introducing the concept of selling these securities in March
1985. It has a commanding 86.1 pct share of the 12.5 billion
dlr market, according to figures tabluated by First Boston.
    Salomon Brothers is in second place with a market share of
8.8 pct, followed by Drexel Burnham Lambert Inc's share of 3.5
pct of the market. Goldman Sachs is next with a 1.6 pct market
share that was calculated before the RepublicBank Dallas deal.
    Indeed, investment bankers say that banks will be the most
frequent issuers of asset-backed securities this year. The
finance arms of the U.S. automakers accounted for the bulk of
last year's offerings, with General Motors Corp's &lt;GM> General
Motors Acceptance Corp taking the lion's share of that.
    The Marine Midland cars deal is rated a top-flight AAA by
both Moody's and Standard and Poor's because it is backed by a
letter of credit by Union Bank of Switzerland.
    Recently, Imperial Savings and Loan Association of San
Diego filed a registration statement with the SEC covering 100
mln dlrs of credit card backed debt, underwriters noted.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5829" NEWID="17491">
<DATE> 1-JUN-1987 08:51:47.38</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0797&#31;reute
r f BC-NATIONAL-SECURITY-&lt;NS   06-01 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>NATIONAL SECURITY &lt;NSIC.O> STAKE ACQUIRED</TITLE>
<DATELINE>    ELBA, Ala., June 1 - </DATELINE><BODY>National Security Insurance Co said a
group of investors has acquired 226,243 common shares, or a
22.2 pct, interest, for 27.50 dlrs per share.
    The company said the acquisition of the portion of the
shares over a five pct interest is subject to approval by the
Alabama Department of Insurance.
    It said the sellers included Atlantic American Corp
&lt;AAME.O>, Bankers Fidelity Life Insurance Co and Georgia
Casualty Insurance Co.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5830" NEWID="17492">
<DATE> 1-JUN-1987 08:52:15.20</DATE>
<TOPICS><D>nat-gas</D><D>ship</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0798&#31;reute
r f BC-GAS-CARRIER-ESCAPED-G   06-01 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>GAS CARRIER ESCAPED GULF ATTACK LAST WEEK - LLOYDS</TITLE>
<DATELINE>    LONDON, June 1 - </DATELINE><BODY>The Panamanian liquified gas carrier
Nyhammer, 48,772 dwt, was attacked by an Iranian gunboat on May
24, Lloyds Shipping Intelligence said.
    One rocket was fired but missed.
    The vessel subsequently arrived at its destination of Ras
Tanura on May 25 and left this morning.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5831" NEWID="17493">
<DATE> 1-JUN-1987 08:52:52.28</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0800&#31;reute
f f BC-******COMPUTER-ASSOCI   06-01 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>COMPUTER ASSOCIATES TO ACQUIRE UCCEL CORP FOR ABOUT 800 MLN DLRS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5832" NEWID="17494">
<DATE> 1-JUN-1987 08:53:56.02</DATE>
<TOPICS><D>tea</D></TOPICS>
<PLACES><D>sri-lanka</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T
&#22;&#22;&#1;f0803&#31;reute
u f BC-SRI-LANKAN-TEA-WORKER   06-01 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>SRI LANKAN TEA WORKERS LAUNCH ONE-DAY PROTEST</TITLE>
<DATELINE>    COLOMBO, June 1 - </DATELINE><BODY>Thousands of tea workers of Indian origin
went on strike today to press demands for citizenship and
voting rights in Sri Lanka, a union statement said.
    The Ceylon Workers Congress (CWC) said its 400,000 members
launched a prayer campaign at temples and other places in a
non-violent protest to get the authorities to expedite
citizenship procedures.
    A CWC spokesman said a three-day campaign was suspended
after a Cabinet committee promised to speed up procedures under
a new set of regulations. Trade sources said the strike did not
affect production or today's Colombo auction.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5833" NEWID="17495">
<DATE> 1-JUN-1987 08:55:45.31</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0811&#31;reute
r f BC-GENETECH-&lt;GENE.O>-SEE   06-01 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>GENETECH &lt;GENE.O> SEES FDA APPROVAL OF DRUG</TITLE>
<DATELINE>    SOUTH SAN FRANCISCO, June 1 - </DATELINE><BODY>Genetech Inc said it still
remains confident that it will be able to work with the U.S.
Food and Drug Adminstration to obtain approval of its tissue
plasminogen activator Activase for use in treating heart attack
victims.
    On Friday an advisory committee of the FDA recommended that
the blood clot dissolving drug not be approved until additional
mortality data be developed.
    Genetech said it will provide the additional data and
believes that much if not all of it is already being developed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5834" NEWID="17496">
<DATE> 1-JUN-1987 08:57:20.25</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0816&#31;reute
f f BC-******WHITTAKER-CHEMI   06-01 0010</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>WHITTAKER CORP 2nd QTR SHR PROFIT 37 CTS VS LOSS 35 CTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5835" NEWID="17497">
<DATE> 1-JUN-1987 08:58:28.17</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0819&#31;reute
r f BC-TECHNOLOGY   06-01 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>TECHNOLOGY/SUPERCOMPUTER MARKET GETTING CROWDED</TITLE>
<AUTHOR>    By Catherine Arnst, Reuters</AUTHOR>
<DATELINE>    BOSTON, June 1 - </DATELINE><BODY>The supercomputer industry is getting
crowded as a handful of startup companies and some huge
Japanese manufacturers compete for the right to apply the label
"world's fastest machine" to their products.
    Currently there are only about 250 supercomputers installed
around the world, but many believe that situation is about to
change dramatically as these highly specialized and extremely
expensive machines move out of the research laboratories where
most of them are found today and into commerical applications.
    "It is commercial supercomputing... that holds the most
promise for this young industry's handful of vendors," said
Gary Smaby, supercomputer analyst for Piper Jaffray and
Hopwood.
    These commercial applications, he said, could propel annual
sales of supercomputers from 850 mln dlrs in 1986 to 2.4
billion by 1990.
    For years two companies, Cray Research Inc &lt;CYR> and
Control Data Corp  &lt;CDA> were virtually the only options for
customers seeking to buy supercomputers.
    But in the last three years a number of new companies have
announced supercomputers using some innovative technologies,
and the industry finally expanded enough to hold its first
World Supercomputer Exhibition in Santa Clara last month.
    Also in the last month two small companies, ETA Systems Inc
(a subsidiary of Control Data) and Thinking Machines Corp  both
laid claim to having the world's fastest computer and a joint
venture of Honeywell Inc &lt;HON> and Japan's NEC Corp &lt;NIPN.T>
Honeywell-NEC Supercomputers Inc, announced its entrance into
the U.S. market.
    All three are aiming at industry leader Cray Research Inc,
which holds more than 60 pct of the market.
    This week, Cray plans to make a joint announcement with
Digital Equipment Corp, &lt;DEC> already the world's largest
minicomputer maker, of some products that will work on both
companies' computers, expanding the market opportunities for
both supers and minis even further.
    Supercomputers were initially designed only for the most
complex of applications, such as predicting worldwide weather
patterns, fusion energy research or military defense and
weapons design.
    They are built for speed, not for standard business
functions such as payroll processing. The fastest
supercomputers can perform more than a billion calculations per
second, greater than the combined power of 100,000 personal
computers.
    They also carry stratospheric price tags of between one mln
to 20 mln dlrs each, which is why Cray's revenues could reach
600 mln dlrs last year even though it only shipped 36 new and
10 used supercomputers, a level that would spell starvation for
any standard computer company.        
    But speakers at the supercomputer exhibition emphasized
that a host of new applications should increase total industry
shipments to 150 systems a year by the end of the decade.
    Most commercial customers of supercomputers now use the
machines to simulate a physical process, such as the flow of
air over an aircraft wing, in design and testing work.
    But financial institutions, particularly Wall Street
brokerage houses, are considered the next major buyers of
supercomputers as they try to recognize changes in stock
trading patterns faster than any of their competitors.
    Two firms, Goldman Sachs and Co and Morgan Stanley and Co,
are now using superminicomputers, hybrid machines that are
faster than a minicomputer but cheaper than a super, to create
financial models of the stock and bond markets.
    Analysts said it is only a matter of time before actual
supercomputers are found on Wall Street.
    One reason for the shift to commercial applications is that
supercomputers are coming down in price as new technologies
provide greater speed at lower costs than the Cray and Control
Data behemoths.
    Both the ETA and Thinking Machines Systems use a technology
called parallel processing, in which a number of internal
processors work together to solve a problem.
    With such systems a problem is broken up and different
segments are assigned to different processors. By contrast,
standard computers solve a problem one instruction at a time,
or sequentially.
    The ETA system, the ETA 10, will eventually use as many as
eight parallel processors capable of processing up to 8.32
billion operations per second.
    However, the first ETA 10, installed at Florida State
University, has only two processors, later to be expanded to
four.  ETA president Lloyd Thorndyke said the ETA 10 represents
a drastic change in architecture from parent company Control
Data's Cyber system.
    Priced from 5.5 mln to 22 mln dlrs, the ETA 10 contains
about 240 chips in each of its processing units, built onto a
board about the size of a standard newspaper section.
    Each of these boards contains the equivalent of 1.5 miles
of embedded wiring.
    It took ETA about 3-1/2 years to develop its supercomputer
but Thorndyke said he expects much faster development time
frames in the futre, from both ETA and its competitors.
    "We're in a leapfrog business and we just took the last
leap," he said.
    Thinking Machines also claims to have the world's fastest
computer and in some ways this is true. Its Connection Machine
Model CM-2 can process 2.5 billion instructions per second, but
it is a very specialized architecture only meant for certain
very specific applications.
    The one mln to five mln dlr Connection Machine uses a
technology called "massive parallism." It contains 64,000
processors crammed into a five foot cube. The processors all
work on a problem at once, breaking it down into minute bits.
    It is an ideal tool for applications with many
unpredicatble variables, according to Brian Boyle, analyst for
Novon Research Group. "The more unpredictable things are, the
more the Thinking Machine will be appropriate," he said.       

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5836" NEWID="17498">
<DATE> 1-JUN-1987 09:03:20.03</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0830&#31;reute
b f BC-******FLUOR-RETAINS-S   06-01 0010</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FLUOR RETAINS SHEARSON TO ASSESS VALUE OF GOLD OPERATIONS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5837" NEWID="17499">
<DATE> 1-JUN-1987 09:03:49.51</DATE>
<TOPICS><D>cocoa</D></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>icco</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0833&#31;reute
u f BC-DUTCH-COCOA-PROCESSOR   06-01 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>DUTCH COCOA PROCESSORS UNHAPPY WITH ICCO BUFFER</TITLE>
<AUTHOR>    By Jeremy Lovell, Reuters</AUTHOR>
<DATELINE>    ROTTERDAM, June 1 - </DATELINE><BODY>Dutch cocoa processors are unhappy with
the intermittent buying activities of the International Cocoa
Organization's buffer stock manager, industry sources told
Reuters.
    "The way he is operating at the moment is doing almost
nothing to support the market. In fact he could be said to be
actively depressing it," one company spokesman said.
    Including the 3,000 tonnes he acquired on Friday, the total
amount of cocoa bought by the buffer stock manager since he
recently began support operations totals 21,000 tonnes.
    Despite this buying, the price of cocoa is well under the
1,600 Special Drawing Rights, SDRs, a tonne level below which
the bsm is obliged to buy cocoa off the market.
    "Even before he started operations, traders estimated the
manager would need to buy at least up to his 75,000 tonnes
maximum before prices moved up to or above the 1,600 SDR level,
and yet he appears reluctant to do so," one manufacturer said.
    "We all hoped the manager would move into the market to buy
up to 75,000 tonnes in a fairly short period, and then simply
step back," he added.
    "The way the manager is only nibbling at the edge of the
market at the moment is actually depressing sentiment and the
market because everyone is holding back from both buying and
selling waiting to see what the manager will do next," one
processor said.
    "As long as his buying tactics remain the same the market is
likely to stay in the doldrums, and I see no indication he is
about to alter his methods," he added.
    Processors and chocolate manufacturers said consumer prices
for cocoa products were unlikely to be affected by buffer stock
buying for some time to come.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5838" NEWID="17500">
<DATE> 1-JUN-1987 09:04:17.30</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0837&#31;reute
r f BC-JUDGEMENT-ENTERED-AGA   06-01 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>JUDGEMENT ENTERED AGAINST ARISTECH &lt;ARS></TITLE>
<DATELINE>    PITTSBURGH, June 1 - </DATELINE><BODY>Aristech Chemical Corp said a judgment
was entered against it in Texas State Court for nine mln dlrs
plus prejudgment interest of 6,500,000 dlrs and legals fees of
three mln dlrs.
    It said the judgment arose from a suit filed by Union
Pacific Corp &lt;UNP> against USX Corp &lt;X>, Aristech's former
parent, in 1983, claiming damages for an alleged 1980 breach of
a cumene purchasing contract by Aristech's predecessor, the USS
Chemicals division of USX, which was then known as U.S. Steel
Corp.
    The company said it considers the judgment unjustified and
it will seek to have it overturned.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5839" NEWID="17501">
<DATE> 1-JUN-1987 09:04:54.15</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0840&#31;reute
b f BC-******ENTERTAINMENT-M   06-01 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>ENTERTAINMENT MARKETING SEEKS TO BUY CRAZY EDDIE FOR EIGHT DLRS A SHARE
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5840" NEWID="17502">
<DATE> 1-JUN-1987 09:09:43.36</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0859&#31;reute
u f BC-SPECTRA-PHYSICS-&lt;SPY>   06-01 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>SPECTRA-PHYSICS &lt;SPY> BOARD REJECTS TENDER OFFER</TITLE>
<DATELINE>    SAN JOSE, Calif., June 1 - </DATELINE><BODY>Spectra-Physics Inc said its
board rejected a 32 dlrs per share unsolicited tender offer for
the company's stock from Ciba-Geigy Ltd &lt;CIGZ.Z>, which already
holds 18.8 pct of the stock.
    Spectra-Physics said it also filed a lawsuit in Delaware
federal court this morning seeking to enjoin the offer and
alleging, among other things, that the offer vilates federal
securities laws, certain agreements between Ciba-Geigy and
Spectra-Physics, and Ciba-Geigy's fiduciary duties.
    Spectra-Physics said the two Ciba-Geigy designess to its
board were not present at yesterday's special meeting which
voted to reject the offer as financially inadequate, unfair and
not in the best interests of Spectra-Physics or its
stockholders.
    The company said the board also authorized a special
committee of outside directors to take whatever steps it deems
necessary to protect the interests of Spectra-Physics and its
stockholders and to investigate all alternatives to maximize
the value of the stock, including talks with third parties.
    Spectra-Physics said a letter communicating the board's
recommendation and reasons therefore is being mailed to
stockholders.
    It said Robert Bruce, Reliance Group Holdings Inc's &lt;REL>
designee on Spectra-Physics' board, resigned his position on
May 29. His letter of resignation said the action was to
alleviate Ciba-Geigy's stated justification for making the
unsolicited offer that it had not contemplated another
significant investor having representation on the board when
its Spectra-Physics' investment was made.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5841" NEWID="17503">
<DATE> 1-JUN-1987 09:10:51.33</DATE>
<TOPICS><D>grain</D><D>wheat</D><D>corn</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f0860&#31;reute
u f BC-FRENCH-SAY-WHEAT-STOC   06-01 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH SAY WHEAT STOCKS FORECAST NO SURPRISE</TITLE>
<DATELINE>    PARIS, June 1 - </DATELINE><BODY>The U.S. Department of Agriculture's
forecast that French end-of-season soft wheat stocks will
almost double in 1987/88 is premature but would not be
surprising, according to French cereal organisation officials.
    The Cereals Intervention Board, ONIC, Wheat Producers'
Association and the National Union of Agricultural and Cereal
Cooperatives have not yet forecast 1987/88 exports or
end-of-season stocks.
    However, the officials said the USDA's figure of end
1987/88 stocks at 5.03 mln tonnes against 1986/87's 2.87 mln
was not surprising given a record high yield forecast in April.
    The French Feed Cereals Research Institute, ITCF, forecast
in mid-April an average yield of 6.58 tonnes per hectare for
soft wheat in 1987/88 compared with 5.6 tonnes in 1986/87 and
the record high yield of 6.5/6.6 tonnes in 1984.
    This would result in a French soft wheat harvest of around
31 mln tonnes against 25.5 mln in 1986/87, given a Ministry of
Agriculture estimate of area planted of 4.66 mln hectares
against 4.61 mln in 1986/87.
    ONIC's first preliminary forecast of the 1987/88 campaign
will be released at the beginning of September, an ONIC
official said.
    Soft wheat exports in 1987/88 were extremely difficult to
estimate at this stage, both within the European Community and
to non-EC countries, an ONIC official said.
    He said, however, that among countries to which France
could increase its wheat exports were Egypt and the Maghreb
countries (Morocco, Algeria and Tunisia), he said.
    The USDA's forecast of an 11.65 mln tonne maize crop in
1987/88 against 11.48 mln in 1986/87, while again premature,
was not out of line with estimates of the French Maize
Producers Association, AGPM, an AGPM official said.
    Maize plantings would be down in 1987/88 but yields were
expected to be higher, the AGPM official said.
    It estimated 1987/88 maize plantings of 1.73 mln hectares,
down seven pct from the 1.87 mln hectares planted in 1986/87.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5842" NEWID="17504">
<DATE> 1-JUN-1987 09:11:27.85</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0866&#31;reute
r f BC-QT8903/1   06-01 0081</UNKNOWN>
<TEXT TYPE="UNPROC">&#2;
U.S. STOCKS EX-DIVIDEND - Jun 1
    NYSE STOCKS...
 ags 2-for-1 stock split ctb     11 cts
 aln              14 cts dis     08 cts
 at  3-for-2 stock split eec     17 cts
 acb              55 cts fnb 37-1/2 cts
 aig          06-1/4 cts fpc     60 cts
 avt          12-1/2 cts gec     34 cts
 bkp              47 cts gps 12-1/2 cts
 bni              50 cts gsx     45 cts
 ciw              01 cts gr      39 cts
 cne              42 cts g       33 cts
 cic              65 cts hpc     44 cts
 cnk 2-for-1 stock split log     25 cts
 dny 2-for-1 stock split lce 47-1/2 cts
 pop 2-for-1 stock split mm      51 cts
 sbo 2-for-1 stock split mcd     58 cts
 hlt              45 cts mmr     18 cts
 efh              22 cts mrs     20 cts
 jml              15 cts ncb     21 cts
 klt          41-1/2 cts npk     39 cts
 kmg          27-1/2 cts oec     49 cts
 kmb              36 cts pin     75 cts
 lrt           .0935 cts see     13 cts
U.S. STOCKS EX-DIVIDEND =3 - Jun 1
  NYSE STOCKS COND't...
 slm 09 cts    AMEX STOCKS...
 sns 45 cts  ai 10 cts mip    09 cts
 tlr 12 cts  cvr30 cts wre    32 cts
 tii 17 cts  cgf          37-1/2 cts
 tka 02 cts  cfk          06-1/4 cts
 wbo 30 cts  dpc              08 cts
 trx 75 cts  mpi              03 cts
             nyt pr a         09 cts
             wlc          12-1/2 cts
             rbc 3-for-2 stock split
          
 Reuter
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5843" NEWID="17505">
<DATE> 1-JUN-1987 09:17:04.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0889&#31;reute
u f BC-ITALIAN-TREASURY-DETA   06-01 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>ITALIAN TREASURY DETAILS BORROWING REQUIREMENT</TITLE>
<DATELINE>    Rome, June 1 - </DATELINE><BODY>The Italian Treasury said the public sector
borrowing requirement in the first four months totalled a
provisional 40,100 billion lire compared with 40,380 billion in
the comparable 1986 period.
    The Treasury said revenues in the first four months
totalled a provisional 64,151 billion lire, while spending was
a provisional 108,439 billion lire. Treasury management
operations showed a positive balance of 4,188 billion lire.
    The borrowing requirement was financed through medium and
long term bond and loan issues on the domestic market totalling
36,721 billion lire, through foreign borrowing of 60 billion
lire, and through a 3,319 billion lire increase in other
treasury debts.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5844" NEWID="17506">
<DATE> 1-JUN-1987 09:18:33.15</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0895&#31;reute
u f BC-BOEING-&lt;BA>-TO-ACQUIR   06-01 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>BOEING &lt;BA> TO ACQUIRE DEFENSE ELECTRONICS FIRM</TITLE>
<DATELINE>    SEATTLE, June 1 - </DATELINE><BODY>Boeing Co and ARGOSystems Inc &lt;ARGI.O>
said they reached an agreement for Boeing to acquire the
Sunnyvale, Calif., defense electronics firm for about 275 mln
dlrs.
    The boards of both companies have approved the merger,
which will be accomplished through a tender offer by a Boeing
subsidiary of 37 dlrs a share cash for all of ARGOSystems'
shares, the companies said.
    Under the agreement, the Boeing subsidiary, TBC Holdings
Corp, will begin the tender offer promptly. If at least 90 pct
of the shares are not tendered, the offer will be prorated to
49 pct, the companies said.
    ARGOSystems has granted Boeing an option to buy 1,238,311
shares or 18.5 pct of the outstanding stock for 37 dlrs a
share, they said.
    Also, Bill May, chairman of ARGOSystems, and three other
officers have granted Boeing an option to buy their shares,
another 8.9 pct of the outstanding stock, for 37 dlrs a share.
    ARGOSystems makes equipment to monitor and analyze military
communications signals, electronic warfare equipment to monitor
and jam radar signals and signal processing systems.
    For the nine months ended March 31, 1987, ARGOSystems
reported earnings more than doubled to 6.3 mln dlrs or 95 cts a
share from 3.1 mln dlrs or 46 cts. The year-ago period included
a 2.2 mln dlr charge from a writedown of securities. Sales rose
23.5 pct to 70.9 mln dlrs.
    Sales are expected to exceed 100 mln dlrs for the fiscal
year ending June 30, the companies said in a joint statement.
    The company's backlog is currently more than 180 mln dlrs,
they said. It has about 1,200 employees.
    About 30 pct of ARGOSystems' business comes from
international customers.
    "ARGOSystems is a clear leader in its field. This
association will expand our overall activities and
significantly enhance our ability to compete in the defense
electronics area," Boeing president Frank Shrontz said in a
statement.
    ARGOSystems will operate as a wholly owned subsidiary of
Boeing Co.
    The merger following the tender offer will be subject to
approval by ARGOSystems shareholders, the companies said.
    The tender offer and merger are subject to customary
conditions and expiration of the Hart-Scott-Rodino notification
waiting period, they said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5845" NEWID="17507">
<DATE> 1-JUN-1987 09:21:29.20</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0905&#31;reute
u f BC-COMPUTER-ASSOCIATES-&lt;   06-01 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>COMPUTER ASSOCIATES &lt;CA>, UCCEL SET MERGER</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Computer Associates International Inc
and UCCEL Corp &lt;UCE> said they have signed a definitive merger
agreement under which Computer Associates will pay about 800
mln dlrs in stock for all outstanding UCCEL shares.
    The companies said under the terms of the agreement, all
UCCEL shareholders will receive about 1.69 shares of Computer
common stock for each of the approximately 17 mln UCCEL shares
outstanding.
   
    According to the companies, this would amount to about
47.50 dlrs per UCCEL share, based on May 29 New York Stock
Exchange closing prices.
    Closing of the transaction is anticipated in August, the
companies said. The companies said the resulting company wil
retain the name Computer Associates International Inc.
    Additionally, the companies said Charles Wang, currently
Computer Associates chairman and chief executive, will continue
as chairman of the new company.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5846" NEWID="17508">
<DATE> 1-JUN-1987 09:21:45.97</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0906&#31;reute
h f AM-USEDCARS   06-01 0123</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. BOUGHT 16.5 MLN USED CARS, STUDY SAYS</TITLE>
<DATELINE>    DETROIT, June 1 - </DATELINE><BODY>American motorists bought 16,524,000 used
cars last year at an average cost of 5,833 dlrs each for a
total market of 96.4 billion dlrs, according to a yearly study
by the Hertz Corp.
    The study also showed an increase in used car sales of
about 600,000 units over 1985 volumes while the average price
rose about 400 dlrs.
    But the survey said the typical used car that changed hands
in 1986 was slightly newer at 4.5 years old and 41,140 miles
than in the prior year, when such a car had run 45,270 miles
and was 4.6 years old.
    "The sample shows that retail sales volume for used cars
turned up after two years of decline," said Leigh Smith, a
Hertz Corp. spokesman.
    "And while costs of ownership went up to 25.5 cents a mile
for used cars from 25.05 cents in 1985, they remain 47 pct
under the estimated 48.5 cents a mile cost to own and operate a
new car."
    The increase in activity appeared to be linked to the
record market for new cars, which passed 11.4 mln domestic and
imported models last year because of the unprecedented cut-rate
loan incentive packages offered by the Detroit-based automakers
and changes in U.S. tax laws.
    The incentive campaigns were largely sparked by General
Motors Corp &lt;GM> in an attempt to reverse its slipping share of
the American car market.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5847" NEWID="17509">
<DATE> 1-JUN-1987 09:28:59.43</DATE>
<TOPICS><D>copper</D><D>sugar</D><D>grain</D><D>corn</D></TOPICS>
<PLACES><D>zambia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0917&#31;reute
u f BC-ZAMBIA-CUTS-PRICES-AS   06-01 0132</UNKNOWN>
<TEXT>&#2;
<TITLE>ZAMBIA CUTS PRICES AS TROOPS PATROL COPPERBELT</TITLE>
<DATELINE>    LUSAKA, June 1 - </DATELINE><BODY>The Zambian government today announced
minor price cuts for essential commodities as part of its new
economic strategy, while police and troops patrolled the
northern Copperbelt to prevent any outbreaks of rioting.
    However, staple foods, such as bread, sugar and maize meal,
were not affected by the cuts and many people said this could
provoke trouble from disgruntled elements who had expected more
sweeping reductions.
    Observers in the capital expressed disillusionment with the
small extent of the price cuts, which ranged up to 10 pct on
items such as blankets, soap, detergents and baby food.
    Residents in the Copperbelt contacted by telephone said
government forces had set up roadblocks around the main towns.
    In Lusaka, business went on as usual and there was no sign
of troops or police reinforcements on the streets.
    President Kaunda had ordered the price reductions to take
account of lower import costs following the revaluation of the
kwacha to a fixed rate of eight per dlr from 21 on May 1.
    The revaluation formed part of a new go-it-alone economic
strategy which Kaunda adopted to replace Zambia's IMF austerity
program.
    Labour leaders in the Copperbelt said last week gangs of
unemployed youths were being formed in the politically volatile
region to take action against shops that did not reduce their
prices after today's deadline. Fifteen people were killed in
the Copperbelt during food riots last December after the
government tried to lift maize subsidies.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5848" NEWID="17510">
<DATE> 1-JUN-1987 09:31:29.90</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F E
&#22;&#22;&#1;f0924&#31;reute
r f BC-CANADA-SOUTHERN-&lt;CSW.   06-01 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA SOUTHERN &lt;CSW.TO> TO OFFER SHARES</TITLE>
<DATELINE>    CALGARY, June 1 - </DATELINE><BODY>Canada Southern Petroleum Ltd said its
board has authorized an offering of about three mln shares of
limited voting stock to shareholders of record on June 23.
    The company said the rights offering will expire August
Three.  The rights are nontransferable.
    It said shareholders will be entitled to buy one new share
for every three held at one dlr U.S. or 1.34 dlrs Canadian.
Shareholders subscribing for their entire allotments will have
the option of subscribing for shares not bought by others on a
contingent allotment basis in any amount up to 100 pct of their
original allotments.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5849" NEWID="17511">
<DATE> 1-JUN-1987 09:34:41.28</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>south-korea</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0937&#31;reute
u f PM-KOREA-TARIFF CORRECTION  06-01 0140</UNKNOWN>
<TEXT>&#2;
<TITLE>SEOUL ANNOUNCES MORE TARIFF CUTS FOR U.S.</TITLE>
<DATELINE>    SEOUL, June 1 - </DATELINE><BODY>South Korea will cut import taxes on 50
goods, including construction equipment, cigarettes and
tobacco, to help reduce its trade surplus with the United
States, the Finance Ministry said today. The tariff cuts of
between five and 30 pct will take effect on July 1.
    South Korea ran a trade surplus of 7.3 billion dlrs with
Washington in 1986, sharply up from 4.3 billion in 1985.
    Today's announcement brings to 157 the number of goods for
which similar measures were taken this year, a ministry
official said. The 157 are among about 290 items on which
Washington has asked Seoul to lower tariffs.
    "This is in line with the government's policy to limit our
trade surplus with the United States to help reduce trade
friction between the two countries," said the official.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5850" NEWID="17512">
<DATE> 1-JUN-1987 09:39:24.04</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C L
&#22;&#22;&#1;f0952&#31;reute
u f BC-slaughter-guesstimate   06-01 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>HOG AND CATTLE SLAUGHTER GUESSTIMATES</TITLE>
<DATELINE>    CHICAGO, June 1 - </DATELINE><BODY>Chicago Mercantile Exchange floor traders
and commission house representatives are guesstimating today's
hog slaughter at about 275,000 to 285,000 head versus 12,000
week ago and 276,000 a year ago.
    Cattle slaughter is guesstimated at about 126,000 to
132,000 head versus 6,000 week ago and 133,000 a year ago.
    Note: week ago figures reduced by Memorial Day holiday.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5851" NEWID="17513">
<DATE> 1-JUN-1987 09:40:01.44</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0954&#31;reute
u f BC-ENTERTAINMENT-MAKES-B   06-01 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>ENTERTAINMENT MAKES BUYOUT OFFER TO CRAZY EDDIE</TITLE>
<DATELINE>    HOUSTON, Texas, June 1 - </DATELINE><BODY>Entertainment Marketing Inc &lt;EM>
said it has made an offer to the board of Crazy Eddie Inc to
acquire all outstanding shares of Crazy Eddie Inc for eight
dlrs a share in cash.
    Entertainment said the offer would be conducted through a
negotiated merger with a new corporation to be formed by
Entertainment Marketing.
    Entertaiment said it has requested an early meeting with
Crazy Eddie Inc's board and that it has committed 50 mln dlrs
toward the purchase of the shares including those already
purchased.
   
    The company also said it has retained Dean Witter Reynolds
Inc to assist in raising the balance of the financing.
    According to Entertainment, its company and its chairman
own about 4.3 pct of Crazy Eddie's currently outstanding
shares.
    Additionally, the company said it is willing to negotiate
all aspects of its offer and is willing to consider a
transaction which would be tax free to Crazy Eddie's
shareholders.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5852" NEWID="17514">
<DATE> 1-JUN-1987 09:42:43.91</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0963&#31;reute
u f BC-SMITHKLINE-&lt;SKB>,-BOE   06-01 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>SMITHKLINE &lt;SKB>, BOEHRINGER FINALIZE PACT</TITLE>
<DATELINE>    PHILADELPHIA, June 1 - </DATELINE><BODY>SmithKline Beckman Corp said it and
&lt;Boehringer Mannheim GmbH> signed a final agreement to develop
and market new cardiovascular medicines discovered by
Boehringer.
    Under the agreement, SmithKline said, it will have
responsibility for developing the products in the U.S. Both
partners will market the products in the U.S. and abroad.
    Initially, SmithKline said, the companies will concentrate
on the clinical development and marketing of carvedilol which
is a compound to treat mild to moderate hypertension and
angina.
   
    An application for marketing approval of carvedilol was
submitted in West Germany last December, SmithKline said.
Applications expected in other European markets this year and
submission to the U.S. Food and Drug Administration is
projected for 1990.
    It said work also underway on thromboxane receptor
antagonists, compounds which could be useful in accelerating
disolution of blood clots and preventing blod clots from
occuring in a heart attack as well as in other arterial
diseases. The company said two of these compounds are in
clinical evaluation in Europe and the U.S.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5853" NEWID="17515">
<DATE> 1-JUN-1987 09:43:45.49</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0965&#31;reute
r f BC-OCCIDENTAL-&lt;OXY>-SETS   06-01 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>OCCIDENTAL &lt;OXY> SETS DEBT RETIREMENT DATE</TITLE>
<DATELINE>    LOS ANGELES, June 1 - </DATELINE><BODY>Occidental Petroleum Corp said the
previously reported retirement of nine series of Natural Gas
Pipeline Co of America debt will occur on July two.
    Retirement of the subsidiary's was announced by Occidental
last week.
    It said notices of redeemptions and pre-payments will be
mailed shortly to all registered holders.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5854" NEWID="17516">
<DATE> 1-JUN-1987 09:44:12.12</DATE>
<TOPICS><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES><D>india</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0968&#31;reute
u f BC-INDIA-PLANS-MORE-BOMB   06-01 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>INDIA PLANS MORE BOMBAY OFFSHORE OIL WELLS</TITLE>
<DATELINE>    BOMBAY, June 1 - </DATELINE><BODY>India's state-owned Oil and Natural Gas
Commission (ONGC) plans to drill more wells in the Bombay
offshore area, where a well spudded in February this year gave
both oil and gas, an ONGC spokesman said.
    The exploratory well, spudded at a depth of 2,140 metres,
yielded 2,000 barrels of oil and 180,000 cubic metres of gas
per day, he said.
    "The well, one of the four structures drilled in the area 80
km north-west of Bombay, indicates good prospects of both oil
and gas. We've decided to drill at least three more wells in
there before starting production on a commercial scale."
    Production of Bombay High, part of the Bombay offshore
field, has stabilised at around 500,000 barrels per day for the
last two years.
    ONGC produced 27.85 mln tonnes of crude in 1986/87 ending
March, up from 27.51 the previous year. Bombay High accounted
for 20.61 mln tonnes, marginally up from 20.10 the year before.
India's total oil output is around 30 mln tonnes.
    ONGC has been exploring the Bombay offshore area, developed
since the late 1970s, for more oil as production from Bombay
High has reached a plateau.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5855" NEWID="17517">
<DATE> 1-JUN-1987 09:44:29.16</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>nasdaq</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0971&#31;reute
w f BC-TOWN-AND-COUNTRY-CHAN   06-01 0033</UNKNOWN>
<TEXT>&#2;
<TITLE>TOWN AND COUNTRY CHANGES NASDAQ SYMBOL</TITLE>
<DATELINE>    CHELSEA, Mass., June 1 - </DATELINE><BODY>Town and Country Jewelry
Manufacturing Corp said effective today its NASDAQ ticker
symbol has been changed to &lt;TCJCA.O> from &lt;TJCA.O>
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5856" NEWID="17518">
<DATE> 1-JUN-1987 09:45:25.82</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0973&#31;reute
r f BC-SOCIETY-FOR-SAVINGS-&lt;   06-01 0046</UNKNOWN>
<TEXT>&#2;
<TITLE>SOCIETY FOR SAVINGS &lt;SOCS.O> FORMS PARENT</TITLE>
<DATELINE>    HARTFORD, Conn., June 1 - </DATELINE><BODY>Society for Savings Bancorp Inc
said it has completed its previously announced plan of
acquisition making a new Delaware-chartered bank holding
company the parent of Conneticut chartered Society for Savings.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5857" NEWID="17519">
<DATE> 1-JUN-1987 09:45:49.01</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D><D>saudi-arabia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f0974&#31;reute
u f BC-SAUDI-RENEGOTIATION-O   06-01 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>SAUDI RENEGOTIATION OF ARAMCO DEAL MOVING ALONG</TITLE>
<DATELINE>    NEW YORK, JUNE 1 - </DATELINE><BODY>Saudi Arabia's renegotiation of its
collective agreement with Aramco to purchase oil for the
latter's ex-partners is moving along and should lead to a
fundamental structural change in the contract, oil industry
sources said.
    Petroleum Intelligence Weekly, in this Monday's edition,
said negotiations are moving along for adjustment of the 1.34
mln bpd joint long term agreement at official prices and
volumes and other terms may be rearranged.
    The agreement signed in January for the months from
February to June is up for renegotiation.
    Under the January contract Aramco was to purchase 1.34 mln
bpd for the four partners allocated among them as Exxon Corp
&lt;XON> 440,000 bpd, Texaco Inc &lt;TX> 350,000 bpd, Mobil Corp
&lt;MOB> and Chevron Corp &lt;CHV> 550,000 bpd between them.
    But an overlifting by Texaco Inc in the first quarter
allowed other companies like Exxon Corp to underlift its
obligations under the contract
    PIW said that that one alternative under consideration is
to revert to four individual contracts rather than a collective
agrement.
    John Lichtblau, director of the Petroleum Industry Research
Foundation Inc said that renegotiation of the pact was more of
a formality as the Saudis have each company on a separate
schedule although separate agreements with the companies would
favor one on one negotiations and ensure that contracted
liftings occur .
    "The companies will probably follow the Saudi wants within
limits as they do not want to antagonize them for the long
haul," he said.
    Lichtblau said that the renegotiations would most likely
concentrate on volume rather than price.
    Saudi displeasure with the agreement has long been noted
and in April industry publications said that renegotiation were
being sought, a fact later confirmed by Reuters with Aramco.
    Aramco Corp was formerly owned by Chevron Corp &lt;CHV>, Exxon
Corp &lt;XON>, Mobil Corp &lt;MOB> and Texaco Inc &lt;TX> but is now
owned by Saudi Arabia which bought its assets although the
ex-partners have various agreements with Saudi Arabia.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5858" NEWID="17520">
<DATE> 1-JUN-1987 09:46:27.25</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0978&#31;reute
r f BC-SCHERING-PLOUGH-&lt;SGP>   06-01 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>SCHERING-PLOUGH &lt;SGP> GETS FDA APPROVAL</TITLE>
<DATELINE>    MADISON, N.J., June 1 - </DATELINE><BODY>Schering-Plough Corp said its
Elocon topical steroid for inflammatory skin disorders has been
approved for marketing by the U.S. Food and Drug Administration
in cream and ointment forms for once-daily applications.
    The company said overseas health agency registrations for
Elocon are scheduled to be submitted in a number of major
markets this year and in other areas in 1988.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5859" NEWID="17521">
<DATE> 1-JUN-1987 09:46:52.56</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L
&#22;&#22;&#1;f0980&#31;reute
u f AM-FLOODS   06-01 0173</UNKNOWN>
<TEXT>&#2;
<TITLE>OKLAHOMA CLEANING UP AFTER WEEK OF FLOODS, RAINS</TITLE>
<DATELINE>    OKLAHOMA CITY, June 1 - </DATELINE><BODY>Residents of central Oklahoma
returned to their homes over the weekend after a week of heavy
rains and severe flooding that left two dead and caused more
than 20 mln dlrs in damage, officials said.
    Some 900 people were evacuated from their homes during the
rains and flooding last week, civil defense officials said.
    Many of the shelters set up throughout the state in areas
threatened by flooding, except those near the Washita and Red
Rivers, closed as residents returned to their damaged homes.
    Farmers who had expected a near-record wheat crop now say
this year will see one of the largest losses in decades.
    Gov. Henry Bellmon, who on Thursday declared a flooding
emergency for central Oklahoma, was expected to ask President
Reagan for federal disaster relief for the area.
    In northern Texas, officials reported several tornadoes on
Friday. A twister in Lubbock yesterday damaged six mobile homes
and two houses. No injuries were reported.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5860" NEWID="17522">
<DATE> 1-JUN-1987 09:48:45.44</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>cbt</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f0985&#31;reute
u f BC-CBT-PROPOSES-JAPANESE   06-01 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>CBT PROPOSES JAPANESE GOVERNMENT BOND FUTURES</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>The Chicago Board of Trade (CBT) has
asked federal regulators for authority to trade a futures
contract in long-term Japanese government bonds.
    The Commodity Futures Trading Commission (CFTC) said it has
received an application from CBT for a contract comprised of
yen bonds with a face value at maturity of 100 mln yen.
    The price of the proposed contract would be quoted in
points per 100 yen par value, with one point equal to one mln
yen. The minimum price fluctuation would be 10,000 yen per
contract, and the contract would have no daily price limits.
    CFTC has requested public comment on the proposal.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5861" NEWID="17523">
<DATE> 1-JUN-1987 09:57:19.95</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1003&#31;reute
b f BC-U.K.-MONEY-MARKET-GIV   06-01 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. MONEY MARKET GIVEN 25 MLN STG LATE ASSISTANCE</TITLE>
<DATELINE>    LONDON, June 1 - </DATELINE><BODY>The Bank of England said it provided the
money market with late assistance of around 25 mln stg.
    This takes the Bank's total help today to some 137 mln stg
and compares with its latest forecast of a 150 mln stg
shortage.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5862" NEWID="17524">
<DATE> 1-JUN-1987 09:59:52.42</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f1007&#31;reute
r f BC-pega-to-buy-stake   06-01 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>PEGA TO BUY STAKE IN TAMPER-PROOF PACKAGING</TITLE>
<DATELINE>    TORONTO, June 1 - </DATELINE><BODY>Pega Capital Resources Ltd &lt;PGA.TO> said
it agreed in principle to acquire a 50 pct undivided interest
in all rights and patents to a tamper resistant and
tamper-evident packaging process for 1,250,000 dlrs.
    The company said the purchase price is payable in 1,250,000
common shares priced at one dlr each. The shares will be paid
under an escrow agreement where Pega may terminate the purchase
agreement and cancel the shares up to October 31, 1987.
    It said the process results in readily visible breakage if
packaging material is pierced by a sharp object.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5863" NEWID="17525">
<DATE> 1-JUN-1987 10:00:58.94</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1011&#31;reute
f f BC-******U.S.-APRIL-CONS   06-01 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. APRIL CONSTRUCTION SPENDING ROSE 0.4 PCT AFTER REVISED 1.1 PCT MARCH DROP
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5864" NEWID="17526">
<DATE> 1-JUN-1987 10:02:00.49</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1018&#31;reute
d f BC-BAUSCH-AND-LOMB-&lt;BOL>   06-01 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>BAUSCH AND LOMB &lt;BOL> ANNOUNCES NEW PRODUCTS</TITLE>
<DATELINE>    ROCHESTER, N.Y., June 1 - </DATELINE><BODY>Bausch and Lomb said it plans to
launch a new line of soft contact lens care products in the
United States.
    The company said the line will be marketed under the ReNu
tradename, and will involve fomulations which will
enhance the convenience of contact lens cleaning and
disinfecting.
    Bausch and Lomb said the two products, which are scheduled
for shipment in late July, are ReNu Multi-Action Disinfecting
Solution and ReNu Sterile Preserved Saline.
   
    According to the company, the ReNu disinfecting solution is
a single-step product for cold disinfection and the ReNu saline
solution contains a new preservative with very low potential
for eye irritation.
    The company said another product in this line, ReNu
Enzymatic Tablets, was introduced in December.
    Additionally, the company said patents are currently
pending on all three ReNu products, and that other solutions
will be added to the ReNu line following Food and Drug
Administration approval.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5865" NEWID="17527">
<DATE> 1-JUN-1987 10:02:28.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1021&#31;reute
r f BC-/U.S.-CONSTRUCTION-SP   06-01 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. CONSTRUCTION SPENDING ROSE 0.4 PCT IN APRIL</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>U.S. construction spending rose 1.7
billion dlrs, or 0.4 pct, in April to a seasonally adjusted
rate of 384.1 billion dlrs, the Commerce Department said.
    Spending in March fell a revised 4.4 billion dlrs, or 1.1
pct, to 382.4 billion dlrs, the department said.
    Previously it said spending fell 1.3 pct in March.
    April construction spending was 10.2 billion dlrs, or 2.7
pct, above the April, 1986, level of 373.9 billion dlrs.
    Private construction spending rose to 307.9 billion dlrs in
April from 306.0 billion dlrs the previous month and included a
gain in single-family homes, the department said.
    Spending on one-unit home construction rose to 113.1
billion dlrs from 111.5 billion dlrs while multi-unit spending
edged down to 28.3 billion dlrs from 28.6 billion dlrs.
    Spending on nonresidential construction rose to 88.0
billion dlrs from 87.1 billion dlrs, but outlays on office
construction fell to 24.5 billion dlrs from 25.6 billion dlrs
in March, the department said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5866" NEWID="17528">
<DATE> 1-JUN-1987 10:03:06.53</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1026&#31;reute
d f BC-TEXACO-&lt;QTX>-SUPPOPTS   06-01 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>TEXACO &lt;QTX> SUPPOPTS BOND AND LIEN RULES STUDY</TITLE>
<DATELINE>    AUSTIN, Texas, June 1 - </DATELINE><BODY>Texaco Inc &lt;QTX> said it will
support the efforts of a Texas legislature joint committee,
which will study and propose remedies for problems with the
procedural bond and lien rules of the Texas judiciary.
    The rules, which require a defendant in a civil case to
post a bond in the full amount of the judgment plus interest in
order to exercise its right to appeal the judgment, directly
led to Texaco to file for protection under Chapter 11 of the
Federal Bankruptcy Code, Texaco said.
   
    Texaco said it was unfortunate that it took its bankruptcy
to illustrate the need for reform.
    Texaco also said Pennzoil Co's &lt;PZL> obstructive tactics
prevented similar legislation earlier in the legislature's
session, which would have provided the trial judge in Texas
flexibility to set the bond at a level appropriate to secure
the interest of the judgment creditor based on the
circumstances of the case.
    Under current law, Texaco said it would have had to post
the full 11.1 billion dlrs to exercise its right to appeal the
judgment.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5867" NEWID="17529">
<DATE> 1-JUN-1987 10:03:56.29</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D><D>japan</D><D>hong-kong</D><D>malaysia</D><D>philippines</D><D>singapore</D><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1030&#31;reute
r f BC-CPC-INTERNATIONAL-&lt;CP   06-01 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>CPC INTERNATIONAL &lt;CPC> COMPLETES ASIAN SALE</TITLE>
<DATELINE>    ENGLEWOOD CLIFFS, N.J., June 1 - </DATELINE><BODY>CPC International Inc said
it has completed previously-announced transactions involving
its grocery products businesses in four Asian countries with
Ajinomoto Co Inc &lt;AJIN.T>, raising about 300 mln dlrs.
    It said it will receive about 40 mln dlrs more later,
mostly this month, when closings are expected in three more
countries.  Proceeds will be used mostly for debt reduction.
    CPC said Ajinomoto has purchased its equity in Knorr Foods
Co Ltd, a joint venture in Japan between the two companies,
with CPC to get fees for trademark and technology use.
    CPC said Ajinomoto is also purchasing 50 pct interests in
CPC's wholly-owned subsidiaries in Hong Kong, Malaysia, the
Philippines, Singapore, Taiwan and Thailand.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5868" NEWID="17530">
<DATE> 1-JUN-1987 10:04:42.04</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>nyse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1034&#31;reute
u f BC-THOMPSON-MEDICAL-&lt;TM>   06-01 0047</UNKNOWN>
<TEXT>&#2;
<TITLE>THOMPSON MEDICAL &lt;TM> PLANS STATEMENT SHORTLY</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Thompson Medical Co Inc expects to
release a statment in a few minutes, a company spokesman said.
    The New York Stock Exchange has delayed opening the stock
saying news is pending. The stock closed Friday at 19-3/4.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5869" NEWID="17531">
<DATE> 1-JUN-1987 10:05:15.87</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f1038&#31;reute
r f BC-INNOVATIVE-SOFTWARE-&lt;   06-01 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>INNOVATIVE SOFTWARE &lt;INSO> TO OFFER CONVERTIBLES</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Innovative Software Inc said it plans to
sell later this month or in July about 25 mln dlrs of
convertible subordinated debentures due 2012.
    Proceeds will be used for general corporate purposes,
including possible acquisitions of complementary products,
technologies or companies, Innovative Software said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5870" NEWID="17532">
<DATE> 1-JUN-1987 10:05:55.63</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1040&#31;reute
r f BC-CULLINET-&lt;CUL>-RELEAS   06-01 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>CULLINET &lt;CUL> RELEASES NEW ANALYSIS SYSTEM</TITLE>
<DATELINE>    WESTWOOD, Mass., June 1 - </DATELINE><BODY>Cullinet Software Inc said it has
introduced Release 10.1 of Performance Monitor, an on-line
system that enables system programmers to analyze performance
information quicky.
    Cullinet said the Release 10.1 provides program analysis
functions for users of Cullinet's IDMS/R database software.
    The company said it also has enhanced the new system with a
"windowing" function that allows people to view several
resources concurrently.
    It added the new system is priced at 27,000 dlrs and will
be generally available later this month.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5871" NEWID="17533">
<DATE> 1-JUN-1987 10:10:35.10</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>cbt</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f1051&#31;reute
u f BC-/CBT-PROPOSES-JAPANES   06-01 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>CBT PROPOSES JAPANESE GOVERNMENT BOND FUTURES</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>The Chicago Board of Trade, CBT, has
asked federal regulators for authority to trade a futures
contract in long-term Japanese government bonds.
    The Commodity Futures Trading Commission, CFTC, said it has
received an application from CBT for a contract comprised of
yen bonds with a face value at maturity of 100 mln yen.
    The price of the proposed contract would be quoted in
points per 100 yen par value, with one point equal to one mln
yen. The minimum price fluctuation would be 10,000 yen per
contract, and the contract would have no daily price limits.
    CFTC has requested public comment on the proposal.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5872" NEWID="17534">
<DATE> 1-JUN-1987 10:11:52.93</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1053&#31;reute
f f BC-******BORDEN-TO-ACQUI   06-01 0009</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BORDEN TO ACQUIRE PRINCE CO FOR ABOUT 180 MLN DLRS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5873" NEWID="17535">
<DATE> 1-JUN-1987 10:12:17.80</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1054&#31;reute
f f BC-******thompson-medica   06-01 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>THOMPSON MEDICAL SAYS 1,290,000 SHARES TENDERED IN RESPONSE TO BID FOR ONE MLN
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5874" NEWID="17536">
<DATE> 1-JUN-1987 10:12:40.70</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1055&#31;reute
b f BC-MERCEDES-BENZ-CREDIT   06-01 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>MERCEDES-BENZ CREDIT ISSUES 100 MLN DLR EUROBOND</TITLE>
<DATELINE>    LONDON, June 1 - </DATELINE><BODY>Mercedes-Benz Credit Corp is issuing a 100
mln dlr eurobond due June 25, 1992 paying 8-1/4 pct and priced
at 100-1/2 pct, lead manager Deutsche Bank Capital Markets
said.
    The non-callable bond is available in denominations of
1,000 and 10,000 dlrs and will be listed in Luxembourg. The
selling concession is 1-1/4 pct while management and
underwriting combined pays 5/8 pct.
    The payment date is June 25.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5875" NEWID="17537">
<DATE> 1-JUN-1987 10:17:41.90</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1078&#31;reute
f f BC-FRENCH-13-WEEK-T-BILL   06-01 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FRENCH 13-WEEK T-BILL AVERAGE RATE FALLS TO 7.72 PCT FROM 7.75 PCT - OFFICIAL
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5876" NEWID="17538">
<DATE> 1-JUN-1987 10:18:24.63</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1083&#31;reute
u f BC-POREX-&lt;PORX.O>-TO-MER   06-01 0045</UNKNOWN>
<TEXT>&#2;
<TITLE>POREX &lt;PORX.O> TO MERGE WITH MEDCO &lt;MCCS.O></TITLE>
<DATELINE>    FAIRLAWN, N.J., June 1 - </DATELINE><BODY>Porex Technologies Corp said it
has agreed to merge with its partly-owned subsidiary Medco
Containment Services Inc in a deal worth about 380 mln dlrs in
cash and common stock to Porex shareholders.
    The company said under the agreement, Prex holders would
receive new Medco shares representing a pro rata share of the
9,159,552 Medco shares now owned by Porex plus a pro rata
shares of the cash value of other porex assets, which is
estimated at 60 mln dlrs subject to adjustment.
    Medco now has 16.9 mln shares outstanding.
    While exact terms may not be determined until the
transaction becomes effective, Porex said each Porex share is
expected to be exchanged for 0.82 Medco share and 5.38 dlrs in
cash, subject to approval by sharehoilders of both companies.
As part of the deal, Medco will split its stock five for two.
    The company said the merger will be accounted for as a
corporate reorganization and be recorded at historical book
values.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5877" NEWID="17539">
<DATE> 1-JUN-1987 10:18:32.39</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1084&#31;reute
d f BC-WOODSTREAM-&lt;WOD>-SEES   06-01 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>WOODSTREAM &lt;WOD> SEES SECOND QUARTER LOSS</TITLE>
<DATELINE>    LITITZ, Pa., June 1 - </DATELINE><BODY>Woodstream Corp said it expects a
second quarter loss on sales below those of a year earlier.
    In last year's second quarter, Woodstream earned 349,000
dlrs on sales of 13.1 mln dlrs.
    The company said it is seeking to reduce expenses and boost
sales.  It said it is scaling back California fishing rod
operations to cut overhead expenses anbd minimize losses.
    Woodstream said its fishing technologies group is
experieincing significantly higher selling, promotion and
factory expenses, while fishing product sales have fallen due
to inventory corrections by several major customers.
    It said sales of its color liquid display fish/depth finder
are expected to exceed three mln dlrs in the first half but
will be substantially less than expected.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5878" NEWID="17540">
<DATE> 1-JUN-1987 10:22:28.49</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1103&#31;reute
r f BC-COLT-INDUSTRIES-&lt;COT>   06-01 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>COLT INDUSTRIES &lt;COT> TO SELL BRITISH UNIT</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Colt Industries Inc said it signed a
conditional agreement to sell its Woodville Polymer Engineering
Ltd subsidiary in Great Britain to the Dowty Group PLC of
Gloucestershire, England, for 35.9 mln stg.
    The deal is scheduled to close by the end of June, the
company said.
    Woodville, which makes high technology precision products
for aerospace, automotive and other industries, had 1986 sales
of about 24 mln stg, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5879" NEWID="17541">
<DATE> 1-JUN-1987 10:22:38.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>canada</D><D>chile</D><D>australia</D><D>spain</D><D>uruguay</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1104&#31;reute
r f BC-FLUOR-&lt;FLR>-TO-ASSESS   06-01 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>FLUOR &lt;FLR> TO ASSESS VALUE OF GOLD OPERATIONS</TITLE>
<DATELINE>    IRVINE, Calif., June 1 - </DATELINE><BODY>Fluor Corp said it retained two
investment bankers to assess the value of its gold operations
in light of improved world gold market conditions.
    The engineering, construction and natural resources company
said it retained Shearson Lehman Brothers Inc and S.G. Warburg
and Co Inc to assist in the assessment.
    Fluor owns 90 pct of St. Joe Gold Corp &lt;SJG>, a unit of
Fluor's St. Joe Minerals subsidiary.
    St. Joe Gold explores, develops, mines and produces
precious metals in the U.S., Canada and Chile. It produced
281,000 ounces of gold in its most recent fiscal year.
    Fluor also has gold operations in Australia, Spain and
Uruguay.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5880" NEWID="17542">
<DATE> 1-JUN-1987 10:24:04.91</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f1111&#31;reute
r f BC-brampton-brick-ups   06-01 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAMPTON BRICK &lt;BBLA.TO> UPS EARNINGS FORECAST</TITLE>
<DATELINE>    BRAMPTON, Ontario, June 1 - </DATELINE><BODY>Brampton Brick Ltd said it
increased its 1987 earnings forecast to 94 cts a share from the
83 cts a share predicted in its October 30, 1986 public share
offering prospectus.
    It said increased earnings will result from continuing
production at its Toronto Don Valley plant past the original
termination date of June 30, 1987, which will double 1987
output. In addition, annual capacity at unit Brique Citadelle
was increased by about 15 pct to 48 mln bricks.
    The revised earnings forecast is after a May, 1987
agreement to issue 900,000 class A subordinate voting shares.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5881" NEWID="17543">
<DATE> 1-JUN-1987 10:24:42.62</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1114&#31;reute
d f BC-ADVANCED-SYSTEMS-INC&lt;   06-01 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>ADVANCED SYSTEMS INC&lt;ASY> 2ND QTR APRIL 30 NET</TITLE>
<DATELINE>    CHICAGO, June 1 -
    </DATELINE><BODY>Shr 32 cts vs 22 cts
    Net 2,022,000 vs 1,355,000
    Revs 16.0 mln vs 13.2 mln
    Avg shrs 6,237,000 vs 6,052,000
    Six mths
    Shr 58 cts vs 42 cts
    Net 3,561,000 vs 2,525,000
    Revs 30.0 mln vs 26.1 mln
    Avg shrs 6,180,000 vs 6,017,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5882" NEWID="17544">
<DATE> 1-JUN-1987 10:25:15.70</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f1116&#31;reute
d f BC-mannville-oil-and-gas   06-01 0027</UNKNOWN>
<TEXT>&#2;
<TITLE>MANNVILLE OIL AND GAS LTD &lt;MOG.TO> 1ST QTR NET</TITLE>
<DATELINE>    CALGARY, Alberta, June 1 -
    </DATELINE><BODY>Shr two cts vs seven cts
    Net 164,000 vs 417,000
    Revs 1,345,000 vs 2,021,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5883" NEWID="17545">
<DATE> 1-JUN-1987 10:25:40.68</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1118&#31;reute
d f BC-HOUSE-OF-FABRICS-INC   06-01 0028</UNKNOWN>
<TEXT>&#2;
<TITLE>HOUSE OF FABRICS INC &lt;HF> 1ST QTR NET APRIL 30</TITLE>
<DATELINE>    SHERMAN OAKS, Calif., June 1 - 
    </DATELINE><BODY>Shr 27 cts vs 18 cts
    Net 1,757,000 vs 1,201,000
    Revs 73.5 mln vs 71.2 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5884" NEWID="17546">
<DATE> 1-JUN-1987 10:26:23.22</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1121&#31;reute
d f BC-HOUSE-OF-FABRICS-PROJ   06-01 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>HOUSE OF FABRICS PROJECTS GAINS IN FISCAL 1988</TITLE>
<DATELINE>    SHERMAN OAKS, Calif., June 1 - </DATELINE><BODY>House of Fabrics Inc &lt;HF>
said it expects further modest gains in revenues for fiscal
year ending January 31, 1988.
    In fiscal 1987, the company's revenues were 316.4 mln dlrs
compared to 286.7 mln dlrs the previous fiscal year ending
January 31.
    House of Fabrics President and Chief executive, Gary
Larkins, said the company will be aggressively promoting sales
while applying tighter inventory controls.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5885" NEWID="17547">
<DATE> 1-JUN-1987 10:26:40.57</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f1124&#31;reute
d f BC-ORBIT-OIL-AND-GAS-LTD   06-01 0033</UNKNOWN>
<TEXT>&#2;
<TITLE>ORBIT OIL AND GAS LTD &lt;ORB.TO> 1ST QTR NET</TITLE>
<DATELINE>    Calgary, Alberta, June 1 -
    </DATELINE><BODY>Shr three cts vs three cts
    Net 421,000 vs 333,000
    Revs 2,103,000 vs 2,287,000
    Avg shrs 16,068,000 vs 12,041,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5886" NEWID="17548">
<DATE> 1-JUN-1987 10:27:12.52</DATE>
<TOPICS></TOPICS>
<PLACES><D>sweden</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1128&#31;reute
u f BC-METRO-AIRLINES-TO-BUY   06-01 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>METRO AIRLINES TO BUY 16 SAAB COMMUTER PLANES</TITLE>
<DATELINE>    STOCKHOLM, June 1 - </DATELINE><BODY>The U.S. Regional carrier &lt;Metro
Airlines> has signed an agreement with Saab Scania AB &lt;SABS ST>
to buy 16 34-seater Saab SF340 aircraft worth a total 650 mln
crowns, the Swedish group's largest single order yet, Saab
said.
    It said in a statement that Metro airlines was also taking
an option on a further 15 SF340 commuter planes.
    The aircraft are to be delivered between now and next
April.
    "The order from Metro airlines is a definite breakthrough
for the Saab SF340," said Tomy Hjort, the head of the SF340
programme at Saab's air division.
 reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5887" NEWID="17549">
<DATE> 1-JUN-1987 10:28:47.98</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1133&#31;reute
d f BC-HOLDERBANK-EXPECTS-19   06-01 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>HOLDERBANK EXPECTS 1987 RESULTS TO BE STEADY</TITLE>
<DATELINE>    ZURICH, June 1 - </DATELINE><BODY>Holderbank Financiere Glarus AG &lt;HOLZ.G>
expects its 1987 results to be at least steady, with increases
in volume sales and negative currency factors roughly
cancelling each other out, deputy chairman Max Amstutz said.
    He told a news conference that turnover was likely to rise
20 pct in volume terms, partly through the consolidation of
recently acquired companies. Ideal Basic Industries Inc &lt;IDL>
of the U.S., Which Holderbank agreed last year to acquire,
should boost group sales by around 12 pct.
    But the weakness of the dollar -- the key currency for the
group -- would remain a strong negative factor.
    Holderbank earlier reported consolidated 1986 net profit of
239 mln Swiss francs compared with 126 mln in 1985 on sales
which fell to 3.3 billion francs from 3.6 billion.
    Group president Thomas Schmidheiny said Holderbank was now
in a consolidation phase after 15 years of enormous growth.
    Priority would be given to strengthening its existing
positions and to integrating recent acquisitions but the group
would continue to take advantage of new opportunities for
acquisitions.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5888" NEWID="17550">
<DATE> 1-JUN-1987 10:35:15.55</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1159&#31;reute
f f BC-******ROBERT-MAXWELL   06-01 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>ROBERT MAXWELL SAID HE SUING TO STOP HARCOURT BRACE PAYING SPECIAL DIVIDEND
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5889" NEWID="17551">
<DATE> 1-JUN-1987 10:36:46.62</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1165&#31;reute
d f BC-VIDEO-&lt;JUKE.O>-TO-BUY   06-01 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>VIDEO &lt;JUKE.O> TO BUY PRESIDENT'S SHARES</TITLE>
<DATELINE>    MIAMI, June 1 - </DATELINE><BODY>Video Jukebox Network inc said it signed a
letter of intent to purchase up to 3.5 mln shares of the four
mln shares of the company's common stock from its founder and
president, Steven Peters.
    Video said the shares are to be purchased by Louis Wolfson
III, senior vice president of &lt;Venture W Inc>, &lt;National Brands
Inc>, J. Patrick Michaels Jr and &lt;CEA Investors Partnership
II>.
    Video said it currently has 7,525,000 shares of common
stock outstanding. The company said it went public earlier this
year and its current ask price was 1-7/8.
   
    CEA Investors Partnership II has planned the partnership to
be operated by Michaels, who is chairman and president of
&lt;Communications Equity Associates Inc>, a media brokerage firm,
Video said.
    The terms of the proposed transaction were not disclosed.
    Video said Peters will continue as chairman and president
of the company.
    It said the parties have until June 29 to agree to all
terms of the letter of intent.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5890" NEWID="17552">
<DATE> 1-JUN-1987 10:37:16.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1168&#31;reute
u f BC-CIRCUS-CIRCUS-&lt;CIR>-T   06-01 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>CIRCUS CIRCUS &lt;CIR> TO HAVE 2ND QTR CHARGE</TITLE>
<DATELINE>    LAS VEGAS, June 1 - </DATELINE><BODY>Circus Circus Enterprises Inc said it
expects to report a charge of about six mln dlrs or 16 cts per
share against results for the second quarter ending July 31 due
to a tender for all 75 mln dlrs of its first mortgage bonds
that expires June Two.
    In last year's second quarter, the company took a 6,200,000
dlr or 16 ct per share charge from the redemption of 80 mln
dlrs principal amount of subordinated notes.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5891" NEWID="17553">
<DATE> 1-JUN-1987 10:40:08.38</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1186&#31;reute
u f BC-GERMAN-APRIL-WHOLESAL   06-01 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN APRIL WHOLESALE TURNOVER FALLS FOUR PCT</TITLE>
<DATELINE>    WIESBADEN, June 1 - </DATELINE><BODY>West German wholesale turnover
provisionally totalled about 66 billion marks in April, a real
decline of four pct compared with the same month last year, the
Federal Statistics Office said.
    In March wholesale turnover had risen by a real seven pct
on the year-ago period.
    The Statistics Office said that in the first four months of
this year wholesale turnover of about 244 billion marks was a
real one pct down from last year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5892" NEWID="17554">
<DATE> 1-JUN-1987 10:40:32.49</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1191&#31;reute
r f BC-BERKSHIRE-GAS-CO-&lt;BGA   06-01 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>BERKSHIRE GAS CO &lt;BGAS.O> RAISES PAYOUT</TITLE>
<DATELINE>    PITTSFIELD, Mass., June 1 -
    </DATELINE><BODY>Qtly div 30-1/2 cts vs 28-1/2 cts prior
    Pay July 15
    Record June 30
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5893" NEWID="17555">
<DATE> 1-JUN-1987 10:40:45.38</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1193&#31;reute
r f BC-FOOD-LION-&lt;FDLNB.O>-M   06-01 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>FOOD LION &lt;FDLNB.O> MAY SALES RISE</TITLE>
<DATELINE>    SALISBURY, N.C., June 1 - </DATELINE><BODY>Food Lion Inc said sales for the
four weeks ended May 23 were up 21.9 pct to 222.6 mln dlrs from
182.6 mln dlrs a year earlier.
    The company said sales for the year to date were up 23.4
pct to 1.06 billion dlrs from 858.8 mln dlrs a year before.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5894" NEWID="17556">
<DATE> 1-JUN-1987 10:40:53.26</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1194&#31;reute
r f BC-MARCADE-GROUP-INC-&lt;MA   06-01 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>MARCADE GROUP INC &lt;MAR> 1ST QTR MAY 2 NET</TITLE>
<DATELINE>    NEW YORK, June 1 -
    </DATELINE><BODY>Shr four cts vs 10 cts
    Shr diluted two cts vs 10 cts
    Net 1,841,000 vs 978,000
    Revs 36.1 mln vs 20.5 mln
    Avg shrs 25,734,000 vs 9,200,000
    Avg shrs diluted 48,878,000 vs 9,200,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5895" NEWID="17557">
<DATE> 1-JUN-1987 10:41:09.23</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1197&#31;reute
d f BC-INTELLIGENT-SYSTEMS&lt;I   06-01 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>INTELLIGENT SYSTEMS&lt;INP> UNIT UNVEILS NEW BOARDS</TITLE>
<DATELINE>    NORCROSS, Ga., June 1 - </DATELINE><BODY>Quadram, a unit of Intelligent
Systems Corp, said it has introduced three new memory and
multifunction boards for the International Business Machines
Corp &lt;IBM> Personal System/2 Models 50 and 60.
    The company said the new products, scheduled for shipment
in August and September, include QuadMEG PS/Q memory board,
QuadPort PS/Q, an input/output board, and Quadboard PS/Q a
multifunction board.
    Quadram also said it has slashed prices effective
immediately for its QuadEGA+ and QuadEGA ProSync graphics
boards by 10 pct and 15 pct, respectively.
    Quadram said QuadEGA+'s price is cut to 445 dlrs from 495
dlrs, while QuadEGA ProSync's price is reduced to 495 dlrs from
595 dlrs.
    The Intelligent Systems unit also has entered into an
open-ended joint technology and product development agreement
with &lt;Genoa Systems Corp>, Genoa Systems said.
    Genoa, a maker of PC-compatible products, said the
agreement allows Quadram to use Genoa's proprietary video
controller chip sets in Quadram's new UltraVGA graphics board
products and sets up a joint development project for a variety
of future graphics products.
    Genoa Systems said the agreement extends a prior, two-year
commercial relationship under which Genoa has supplied Quadram
with technology and equipment based on its Galaxy line of tape
backup systems.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5896" NEWID="17558">
<DATE> 1-JUN-1987 10:41:13.85</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1198&#31;reute
d f BC-GREENMAN-BROS-INC-&lt;GM   06-01 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>GREENMAN BROS INC &lt;GMN> 1ST QTR MAY 2 LOSS</TITLE>
<DATELINE>    FARMINGDALE, N.Y., June 1 -
    </DATELINE><BODY>Shr loss 52 cts vs loss 49 cts
    Net loss 3,142,000 vs loss 2,936,000
    Sales 40.9 mln vs 40.1 mln
    NOTE: Year ago share results adjusted for five-for-four
stock split in August 1986
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5897" NEWID="17559">
<DATE> 1-JUN-1987 10:44:11.77</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1208&#31;reute
d f BC-MARCADE-GROUP-&lt;MAR>-P   06-01 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>MARCADE GROUP &lt;MAR> PLANS ACQUISITION</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Marcade Group Inc said it has agreed in
principle to acquire a prominent, privately-held maker of
ladies' sports wear for an cash, shares and options to purchase
Marcade common valued at about 20 mln dlrs.
    In its fiscal year recently ended, Marcade said, the
company to be acquired which owns five U.S. manufacturing
facilities and one offshore had revenues of over 60 mln dlrs
and pretax earnings of about four mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5898" NEWID="17560">
<DATE> 1-JUN-1987 10:47:12.33</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1217&#31;reute
r f BC-AMERICAN-HEALTHCARE-A   06-01 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN HEALTHCARE AND 3M &lt;MMM> SIGN ACCORD</TITLE>
<DATELINE>    ST. PAUL, MINN., June 1 - </DATELINE><BODY>Minnesota Mining and
Manufacturing Co said it signed a five year agreement to become
a preferred supplier to San Diego, California-based (American
Healthcare System).
    The agreement permits American Healthcare hospitals to buy
at competitive prices from 3M's 14 business divisions, products
in radiology, laboratory, food service, maintenence supplies
and audio visuals, advertising services, office supplies,
computer hardware and software, it said.
    American Healthcare is a health care network representing
more than 1,100 not-for-profit hospitals in 47 states.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5899" NEWID="17561">
<DATE> 1-JUN-1987 10:47:24.24</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1219&#31;reute
d f BC-THOMPSON-MEDICAL-&lt;TM>   06-01 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>THOMPSON MEDICAL &lt;TM> OFFER OVERSUBSCRIBED</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Thompson Medical Co Inc said about
1,290,000 shares of its common were tendered before the
expiration of the company's offer of 20 dlrs a share for up to
one mln common shares.
    Accordingly, the proration percentage is expected to be
about 77.5 pct, Thompson said.
    It said payment for the one mln shares being purchased is
expected to begin about June 12.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5900" NEWID="17562">
<DATE> 1-JUN-1987 10:48:50.71</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1229&#31;reute
u f BC-PENNSYLVANIA-ENTERPRI   06-01 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>PENNSYLVANIA ENTERPRISES &lt;PENT.O> BID STANDS</TITLE>
<DATELINE>    WILKES-BARRE, Pa., June 1 - </DATELINE><BODY>Utilities Investment Inc said
it still is offering to acquire Pennsylvania Enterprises Inc
for 55 dlrs per share.
    It said it is prepared to negotiate its offer.
    The Pennsylvania Enterprises board rejected the offer two
weeks ago as being inadequate.
    Utilities said it has the financial commitments required to
ensure that Pennsylvania Enterprises' facilities would be
upgraded to insure an adequate supply of safe drinking water.
    It said its representatives will be attending Pennsylvania
Enterprises' annual meeting tomorrow in Wilkes-Barre, Pa.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5901" NEWID="17563">
<DATE> 1-JUN-1987 10:50:11.14</DATE>
<TOPICS><D>pet-chem</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1234&#31;reute
h f BC-DOW-CHEMICAL-&lt;DOW>-TO   06-01 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>DOW CHEMICAL &lt;DOW> TO INCREASE PRICES</TITLE>
<DATELINE>    MIDLAND, Mich., June 1 - </DATELINE><BODY>Dow Chemical U.S.A. Midland Co
said it will increase prices of its high performance thermal
fluids, in bulk and drums, effective July One, for contract and
spot customers.
    The bulk list prices for diphenyl oxide, in both technical
and refined grades, will be raised five pct to 1.26 dlrs per
pound for technical and 1.36 dlrs per for refined, Dow said.
    Other increases include Dowtherm G to 21.92 dlrs per
gallon; Dowtherm HT to 20.94 dlrs per gallon; Dowtherm J to
14.96 dlrs per gallon, and Dowtherm LF to 18.68 dlrs per
gallon.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5902" NEWID="17564">
<DATE> 1-JUN-1987 10:50:26.91</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1236&#31;reute
r f BC-SUFFOLK-BANCORP-&lt;SUBK   06-01 0035</UNKNOWN>
<TEXT>&#2;
<TITLE>SUFFOLK BANCORP &lt;SUBK.O> RAISES QUARTERLY</TITLE>
<DATELINE>    RIVERHEAD, N.Y., June 1 -
    </DATELINE><BODY>Qtly div 13 cts vs 12-1/2 cts prior
    Pay July One
    Record June 10
    NOTE: Dividend adjusted for recent two-for-one stock split.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5903" NEWID="17565">
<DATE> 1-JUN-1987 10:50:45.92</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1238&#31;reute
u f BC-THOMPSON-MEDICAL-&lt;TM>   06-01 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>THOMPSON MEDICAL &lt;TM> TENDER OVERSUBSCRIBED</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Thompson Medical co Inc said it received
about 1,290,000 of its common shares in response to its tender
offer for up to one mln at 20 dlrs each, and as a result the
proration percentage is expected to be about 77.5 pct.
    The company said payment for the shares is expected to
start June 12.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5904" NEWID="17566">
<DATE> 1-JUN-1987 10:51:15.82</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1241&#31;reute
r f BC-CATO-CORP-&lt;CACOA>-SET   06-01 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>CATO CORP &lt;CACOA> SETS INITIAL DIVIDEND</TITLE>
<DATELINE>    CHARLOTTE, N.C., June 1 - </DATELINE><BODY>Cato Corp, which went public
April 30, said its board declared an initial quarterly dividend
as a public company of two cts per share, payable June 26 to
holders of record June 12.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5905" NEWID="17567">
<DATE> 1-JUN-1987 10:53:25.88</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1251&#31;reute
f f BC-******MERRILL-LYNCH-S   06-01 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>MERRILL LYNCH SAYS PRORATION FACTOR FOR SUPERMARKETS TENDER IS 85.66 PCT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5906" NEWID="17568">
<DATE> 1-JUN-1987 10:54:08.95</DATE>
<TOPICS><D>cocoa</D></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>icco</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1253&#31;reute
b f BC-BRAZIL-NOT-SELLING-TO   06-01 0131</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL NOT SELLING TO COCOA BUFFER STOCK - TRADE</TITLE>
<DATELINE>    RIO DE JANEIRO, June 1 - </DATELINE><BODY>Brazil is not selling cocoa beans
to the International Cocoa Organization, ICCO, buffer stock, as
spot prices for beans in the interior area are 20 to 25 pct
higher than levels which would be paid by the ICCO buffer stock
manager, trade sources in the major producing state Bahia said.
    The scarcity of beans because of the effects of drought on
the current temporao harvest has pushed prices well above
international levels, the sources noted.
    The only buyers are bean exporters or local processors
covering previously contracted commitments, they added.
    If sales were made they would be executed by individual
exporting companies which are members of the Brazilian Cocoa
Trade Commission, they said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5907" NEWID="17569">
<DATE> 1-JUN-1987 10:55:50.28</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1256&#31;reute
r f BC-RAVEN-INDUSTRIES-&lt;RAV   06-01 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>RAVEN INDUSTRIES &lt;RAV> BUYS TRUCK BODY BUSINESS</TITLE>
<DATELINE>    SIOUX FALLS, S.D., June 1 - </DATELINE><BODY>Raven Industries Inc said it
purchased the utility truck body business of (Astoria
Fibra-Steel, Inc) for cash.
    Details of the transaction were not disclosed.
    The Astoria product line, which has annual sales of about
2.5 mln dlrs, will be manufactured and sold by Raven's newly
formed subsidiary, Astoria Industries Inc, Raven said. Its
Glasstite Inc subsidiary also manufactures and sells utility
truck bodies.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5908" NEWID="17570">
<DATE> 1-JUN-1987 10:57:42.09</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1260&#31;reute
r f BC-GLEASON-&lt;GLE>-UNIT-AD   06-01 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>GLEASON &lt;GLE> UNIT ADDS EQUIPMENT TO AUDI MODEL</TITLE>
<DATELINE>    ROCHESTER, N.Y., June 1 - </DATELINE><BODY>Gleason Corp's subsidiary,
Gleason Power Systems, said its Torsen torque-sensing
differential will be supplied as standard equipment in the new
Audi 90 Quattro four-wheel drive vehicle.
    Initial Torsen differential production for the new Audi 90
will not affect earnings in 1987, Gleason said.
    The Audi Quattros 80 and 90 models will be introduced in
the U.S. in late 1987, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5909" NEWID="17571">
<DATE> 1-JUN-1987 10:58:29.01</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1264&#31;reute
r f BC-HOSPITAL-CORP-&lt;HCA>-G   06-01 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>HOSPITAL CORP &lt;HCA> GETS FINANCING COMMITMENTS</TITLE>
<DATELINE>    NASHVILLE, Tenn., June 1 - </DATELINE><BODY>Hospital Corp of America said it
received financing commitments of about 1.9 billion dlrs to pay
for its previously announced reorganization.
     Hospital Corp said under the reorganization, over 100
hospitals will be spun off to a new, independent company owned
by an employee stock ownership plan, ESOP, for 1.8 billion dlrs
in cash.
    Hospital Corp said in addition to the cash payment, it will
also receive preferred stock and warrants to purchase up to 34
pct of the fully diluted stock of the new company.
   
    According to Hospital Corp, the transaction is expected to
be completed in the third quarter of the year, and proceeds
will be used to reduce Hospital Corp's debt and to repurchase
Hospital Corp common shares.
     Hospital Corp said the 100 hospitals to be acquired by the
new company had net revenues totaling about 1.5 mln dlrs in
1986.
    Hospital Corp further said the ESOP would initially own
99.5 pct of the outstanding common stock of the new company or
about 51 pct on a fully diluted basis.
   
    Hospital Corp said the new company's management would
initially purchase one-half of one pct of the common stock of
the new company, with incentive plans providing management the
opportunity to earn up to 10 pct of the stock.
    According to Hospital Corp, institutions purchasing debt of
the new company will receive warrants for the remaining five
pct of the new company's fully diluted common stock.
    Hospital Corp said Drexel Burnham Lambert Inc has agreed to
provide bridge financing, or to find buyers for debt of the new
company, for an amount of up to 956 mln dlrs.
   
    The financing will comprise 270 mln dlrs of senior
unsecured ESOP debt and 686 mln dlrs of unsecured subordinated
financing for the new company, Hospital Corp said.
    Additionally, Wells Fargo Bank NA has agreed to syndicate
up to 940 mln dlrs of secured bank financing, comprising a 400
mln dlr revolving credit loan and a 540 mln dlr separate ESOP
term loan, Hospital Corp said.
    Wells Fargo has committed itself to fund an aggregate 400
mln dlrs of these loans, Hospital Corp said.
    Hospital Corp said it will not guarantee any of the debt.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5910" NEWID="17572">
<DATE> 1-JUN-1987 11:03:27.17</DATE>
<TOPICS></TOPICS>
<PLACES><D>belgium</D><D>uk</D><D>west-germany</D><D>luxembourg</D><D>denmark</D><D>switzerland</D><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1290&#31;reute
r f BC-EC-EUROBOND-ISSUE-REM   06-01 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>EC EUROBOND ISSUE REMAINS UNRESOLVED - DIPLOMATS</TITLE>
<DATELINE>    BRUSSELS, June 1 - </DATELINE><BODY>European Community diplomats said the
question of whether Eurobonds will fall under proposed EC rules
requiring new securities issues in Community countries to be
preceded by a prospectus has yet to be resolved.
    The U.K. Securities industry has been lobbying hard against
an EC Commission proposal, aimed at protecting investors, that
would require publication and approval of a prospectus before
all public offers of securities.
    The proposed directive currently includes Eurobonds,
although it makes an exception to the prospectus rules for
issues directed exclusively at professional investors.
    Diplomats said that with Britain tending towards backing
West Germany and Luxembourg in their opposition to the
inclusion of Eurobonds, the question of whether they would
remain within the scope of the directive or not was wide open.
    "Everything is in the melting pot," said one diplomat who
declined to be named.
    The diplomats said Belgium has now given up attempts to
have the directive adopted by EC ministers before it hands over
the presidency of the 12-nation Community to Denmark on July 1.
It was not immediately clear what priority the Danes would
attach to getting the proposals through during their six month
tenure.
    Meanwhile, discussions on the directive at working group
level have halted, diplomats said.
    Officials of the EC Commission said it recognised that its
proposals created a conflict between the need for greater
protection of investors, on the one hand, and for banks and
other institutions to place Eurobonds quickly, on the other.
    "It's a problem and we are still in the grips of internal
debate as to the right line to take," said one Commission
official. Eurobonds were not included in the original draft
directive, first put forward in 1981, but were brought into its
scope later at the request of a number of EC member states.
    Diplomats said countries that oppose the inclusion of
Eurobonds in the proposals are worried that the prospectus
requirements would prevent the thriving Eurobond market from
functioning as well as it does now.
    "With timing so essential to the market for placing and
distribution, there's just not time to deal with these
bureaucratic hurdles," said one.
    He and others said the overriding concern was that the
requirements could drive the Eurobond market out of traditional
EC centres like London and Luxembourg to Switzerland, the U.S.
Or Japan.
    Diplomats said the Eurobond question is not the only issue
that needs to be resolved before the directive can be passed.
    They said West Germany's main objection to the directive in
its present form is that it considers as too stringent proposed
rules laying down how much information companies issuing
non-listed securities should disclose in their prospectuses.
    The proposed rules create problems for West Germany because
its new second tier securities market has less demanding
requirements that would have to be tightened.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5911" NEWID="17573">
<DATE> 1-JUN-1987 11:04:49.38</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1298&#31;reute
u f BC-PAY-N'-PAK-&lt;PNP>-GETS   06-01 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>PAY N' PAK &lt;PNP> GETS TWO OFFERS FOR COMPANY</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Pay N' Pak Stores Inc said it received
two proposals in response to its previously announced
solicitation of potential buyers for the company.
    The company said it is evaluating the proposals from Paul
Bilzerian and from a third party which is active in the
leveraged buyout field but which Pay N' Pak declined to
identify.
    It said the Bilzerian proposal calls for shareholders to
receive on a blended basis 16.67 dlrs in cash and 3.30 dlrs in
liquidation value of cumulative exchangeable redeemable
preferred stock for each common share.
   
    Pay N' Pak said the second proposal is structured as a
merger in which each holder would receive a combination of
17.50 dlrs in cash and 2.50 dlrs in liquidation value of 13-1/2
pct cumulative preferred.
    The company said the dividend on the preferred offered by
Bilzerian would be set so that in the opinion his financial
advisor and the company's financial advisor the preferred would
trade in the public market at its liquidation value.
    Dividends on the preferred could be paid at the option of
the surviving corporation in cash or additional shares of
preferred for the first five years, it added..
   
    Pay N' Pak said Bilzerian's proposal is subject to a
physical inventory of merchandise at June 30. Bilzerian did not
provide details with respect to financing of his proposal,
which is not subject to a financing condition.
    The company said dividends on the preferred being offered
in the second proposal would be paid in additional preferred in
the first three years and the preferred would be redeemed in
years 12 and 13.
    It said the second offer is contingent on the arrangement
of financing, adding the party making the offer is confident of
its ability to obtain the balance of the financing.
   
    Pay N' Pak said the second proposal is conditioned upon a
satisfactory agreement with the company's management regarding
its equity participation in the new company.
    The second party anticipates executing a letter of intent
when it delivers its financing commitment to the Pay N' Pak
board that would incorporate an expense reinbursement and
option arrangement, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5912" NEWID="17574">
<DATE> 1-JUN-1987 11:06:11.10</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1304&#31;reute
u f BC-MAXWELL-FILES-SUIT-TO   06-01 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>MAXWELL FILES SUIT TO STOP HARCOURT &lt;HBJ></TITLE>
<DATELINE>    New York, June 1 - </DATELINE><BODY>Publisher Robert Maxwell's British
Printing and Communicaton Corp PLC said it filed a lawsuit in
U.S. district court against Harcourt Brace Jovanovich Inc, its
directors and advisers to stop, among other things, payment of
the special dividend Harcourt is paying as part of its
recapitalization.
    The suit, filed in Manhattan, also names First Boston Corp
&lt;FBC> and seeks to void the issue by Harcourt of 40,000 shares
of super voting preferred stock to First Boston Securities Corp
and the issue of convertible voting preferred stock with
4,700,000 votes in the Harcourt employee stock ownership plan.
    The preferred shares to be issued to First Boston have
8,160,000 votes. The suit, brought derivatively on behalf of
Harcourt and individually in British Printing's capacity as a
substantial holder of Harcourt common shares and 6-3/8 pct
convertible debentures.
    The suit alleges Harcourt's special dividend exceeds by
more than one billion dlrs Harcout's surplus available for
dividends under New York law and contstitutes a fraudulent
conveyance.
    The lawsuit also alleges that Harcourt failed to disclose
that one consequence of the payment of the dividend, which it
terms illegal, will be that shareholders will be liable to
repay it.
    Harcourt last week said it would pay 40 dlrs per share to
stockholders as a special dividend. Harcourt also announced an
extensive recapitalization plan, which analysts said was aimed
at thwarting a takeover effort by British Printing.
    British Printing last week withdrew its 44 dlr per share,
or two billion dlr offer for Harcourt because of the
recapitalizaton plan. At the time, it said it was reviewing its
alternatives.
    British Printing said it filed the suit after consultation
with its advisers. Its lawsuit also alleges that Harcourt
failed to disclose the effect of the special dividend on
Harcourt 6-3/8 pct convertible debentures.
    British Printing alleges the effect will be an enormous
increase effective on the June eight record date for the
dividend in the number of Harcourt common shares issuable upon
conversion of the debentures. British Printing also charged 
Harcourt is unlawfully coercing debenture holders to convert
denbentures before the record date because Harcourt may not
have enough authorized common shares to honor conversion after
the date.
    British Printing holds 460,600 shares and 5.6 mln dlrs
worth of debentures.
    The suit also alleges that management, the board of
directors, and First Boston engaged in an illegal scheme of
entrenchment through a combination of selling to First Boston
Securities Corp the super voting preferred at a bargain price,
the grant to the company employee stock plan of convertible
voting preferred, the six mln share open market repurchase
program and the manner in which its financing has been
structured.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5913" NEWID="17575">
<DATE> 1-JUN-1987 11:06:46.47</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1308&#31;reute
u f BC-U.K.-BANKERS-CONSIDER   06-01 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. BANKERS CONSIDER NEW ECGD FINANCING PLAN</TITLE>
<DATELINE>    LONDON, June 1 - </DATELINE><BODY>Representatives of major U.K. Based banks
are meeting here today to consider a new plan for reducing the
cost of financing British exports guaranteed by the Export
Credits Guarantee Department (ECGD), senior banking sources
said.
    The plan is being developed in conjunction with the ECGD
and the Bank of England.
    Neither the ECGD nor the Bank of England would comment on
the plan. However, bankers said one of the main points under
discussion is a plan to refinance the bulk of the ECGD's medium
term credit portfolio in the international capital markets.
    The proposals involve introducing a set of interest margins
on ECGD backed debt of 5/16 to 7/8 pct, depending on the size
and maturity of the credit and the currency.
    The banks are likely to push for a higher margin. Bankers
said that while these rates would reduce a bank's return they
would still be more than those proposed about a year ago when
the government attempted unsuccessfully to initiate another
cost reduction plan.
    At the same time, the banks would be expected to allow the
ECGD to realise additional savings by refinancing existing
government backed credit in the capital markets.
    On credits that are refinanced an original lender would
receive a residual margin of 7/16 pct for loans up to 10 mln
stg and 3/16 pct on larger transactions.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5914" NEWID="17576">
<DATE> 1-JUN-1987 11:08:28.72</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1320&#31;reute
u f BC-pizza-inn   06-01 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>STEINBERG GROUP HAS FIVE PCT OF PIZZA INN &lt;PZA></TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>A group controlled by New York
investor Saul Steinberg told the Securities and Exchange
Commission it has acquired 168,500 shares of Pizza Inn Inc, or
5.02 pct of the total outstanding common stock.
    The group, which includes Reliance Financial Serivces Corp,
a subsidiary of Reliance Group Holdings Inc &lt;REL>, said it
bought the stock as an investment. It said it might add to its
stake or sell some or all of it.
    The Steinberg group said it bought the stock for 1.75 mln
dlrs in open market purchases between April 13 and May 19 at
prices ranging from 13.625 to 14.2661 dlrs a share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5915" NEWID="17577">
<DATE> 1-JUN-1987 11:10:28.15</DATE>
<TOPICS><D>money-fx</D><D>interest</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1333&#31;reute
b f BC-/-FED-EXPECTED-TO-SET   06-01 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>FED EXPECTED TO SET CUSTOMER REPURCHASES</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>The Federal Reserve is expected to add
reserves to the U.S. banking system by arranging a round of
customer repurchase agreements during this morning's
intervention period, several economists said.
    Some others, however, judged that the Fed has almost
completed its reserve-adding requirement for the statement
period ending on Wednesday and will not need to operate today.
    Fed funds were trading at 6-11/16 pct, compared with
Friday's average of 6.63 pct.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5916" NEWID="17578">
<DATE> 1-JUN-1987 11:10:41.70</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1335&#31;reute
u f BC-AMERICANA-HOTELS-&lt;AHR   06-01 0039</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICANA HOTELS &lt;AHR> TO REPURCHASE SHARES</TITLE>
<DATELINE>    BOSTON, June 1 - </DATELINE><BODY>Americana Hotels and Realty corp said it
intends to repurchase up to 400,000 of its common shares, or
about seven pct, in the open market or privately from time to
time.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5917" NEWID="17579">
<DATE> 1-JUN-1987 11:12:21.00</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1348&#31;reute
u f BC-SUPERMARKETS-GENERAL   06-01 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>SUPERMARKETS GENERAL &lt;SGL> TENDER EXPIRES</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>SMG Acquisition Corp, a subsidiary of
Merrill Lynch Capital Partners Inc, said 38.3 mln shares of
Supermarkets General Corp were validly tendered by the midnight
Friday expiration, resulting in a preliminary proration factor
of 85.66 pct.
    Merrill Lynch said it expects to announce the final
proration factor within 10 business days and begin payment
immediately thereafter. Shares validly tendered represented
about 98.75 pct of the outstanding shares of Supermarkets
General, the announcement said. The cash tender offer was for
up to 32.8 mln shares at 46.75 dlrs net per share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5918" NEWID="17580">
<DATE> 1-JUN-1987 11:12:31.69</DATE>
<TOPICS><D>pet-chem</D><D>acq</D></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1350&#31;reute
r f BC-MONSANTO-TO-BUY-RHONE   06-01 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>MONSANTO TO BUY RHONE-POULENC POLYPHENYL BUSINESS</TITLE>
<DATELINE>    BRUSSELS, June 1 - </DATELINE><BODY>Monsanto Chemical Company, a unit of
Monsanto Co &lt;MTC.N>, is to acquire the polyphenyls business of
Rhone-Poulenc Chimie, a unit of Rhone-Poulenc &lt;RHON.PA>,
Monsanto said in a statement issued from its European
headquarters.
    The statement did not disclose financial details.
    Gustaaf Francx, general manager of Monsanto Chemical Co
Europe-Africa, said the acquisition would help Monsanto to
expand its customer base for polyphenyls, which are used as
components for high temperature heat transfer fluids.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5919" NEWID="17581">
<DATE> 1-JUN-1987 11:12:37.28</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1351&#31;reute
h f BC-PULITZER&lt;PLTZ.O>-RAIS   06-01 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>PULITZER&lt;PLTZ.O> RAISES PRICE OF POST-DISPATCH</TITLE>
<DATELINE>    ST. LOUIS, June 1 - </DATELINE><BODY>Pulitzer Publishing Co said it
increased the retail price of the Sunday St. Louis
Post-Dispatch to 1.00 dlrs a copy from 75 cts, effective June
14.
    The Post-Dispatch, which last increased the price of its
Sunday paper in 1980, said it will receive 19 cts as its share
of the 25 cts increase.
    For the quarter ended March 31, the Post had an average
Sunday circulation of 556,620.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5920" NEWID="17582">
<DATE> 1-JUN-1987 11:12:46.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1353&#31;reute
s f BC-CHICAGO-PACIFIC-CORP   06-01 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>CHICAGO PACIFIC CORP &lt;CPAC.O> REGULAR PAYOUT</TITLE>
<DATELINE>    CHICAGO, June 1 -
    </DATELINE><BODY>Qtly div five cts vs five cts previously
    Pay July One
    Record June 15
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5921" NEWID="17583">
<DATE> 1-JUN-1987 11:12:49.58</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1354&#31;reute
s f BC-GREEN-TREE-ACCEPTANCE   06-01 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>GREEN TREE ACCEPTANCE INC &lt;GNT> REGULAR PAYOUT</TITLE>
<DATELINE>    ST. PAUL, June 1 -
    </DATELINE><BODY>Qtly div 12-1/2 cts vs 12-1/2 cts prior
    Pay June 30
    Record June 15
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5922" NEWID="17584">
<DATE> 1-JUN-1987 11:14:25.82</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>uk</D><D>uae</D><D>ecuador</D><D>iraq</D><D>saudi-arabia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>opec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f1362&#31;reute
u f BC-OPEC-OUTPUT-IN-MAY-SE   06-01 0117</UNKNOWN>
<TEXT TYPE="UNPROC">&#2;
OPEC OUTPUT IN MAY SEEN OVER CEILING AT 17 MLN BPD LONDON, June
1 - OPEC's May output appears to have risen well above its 15.8
mln bpd ceiling to 17 mln bpd, and the increase is likely to
put a short-term lid on spot oil prices, Kleinwort Grieveson
Securities says.
    But Kleinwort's latest World Oil Report said re-stocking
and lower non-OPEC output earlier this year should allow the
group to produce up to 17 mln bpd in the current third quarter.
    "On the supply/demand front, the market continues to enjoy a
degree of stability rarely seen in recent years," it said.
    It said most OPEC members were overproducing slightly but
only the United Arab Emirates (UAE) was seriously above quota.
    The report said Saudi Arabia had been sending clear signals
on the need to maintain oil prices at current levels of around
18 dlrs a barrel and adopt provisional output rises agreed in
December when OPEC meets in Vienna on June 25. If OPEC adopts
the provisional ceilings of 16.6 mln bpd in third quarter and
18.3 mln bpd in the fourth, there will probably be room for
overproduction in the third quarter when demand for its crude
will probably be 17.5 to 18 mln, it said.
    It said that the UAE and Ecuador may demand higher quotas
in Vienna, but the biggest obstacle is Iraq, which has refused
to honour its quota as it is less than that of Gulf War enemy
Iran.
    But OPEC appears committed to a short meeting and realises
something must be done about the Iraq issue, the report said.
    According to Kleinwort's sources, Saudi Arabia has already
held separate talks with Iran and Iraq and is urging Iraq to be
more moderate.
    "One strong indication that some kind of deal may be
eventually worked out is the almost complete silence coming
from Iran," it said.
    Indications are that, in return for going along with the
Saudi desire to maintain official prices in Vienna, Iran is
seeking concessions from the kingdom on the Iraq issue, it
said.
    Kleinwort said the kingdom will face an increasingly uphill
task in trying to maintain prices around 18 dlrs beyond 1987.
    Firstly, OPEC hardliners led by Iran are bound to oppose
such a move. Secondly, other OPEC members will press for
another price rise if the dollar remains weak against other
currencies.
    Thirdly, Saudi Arabia may be forced to raise prices earlier
than it intended to ward off growing calls for higher prices
from the U.S. To stimulate domestic drilling and exploration.
    The report concluded that there is a strong possibility
official OPEC prices will rise to 20 dlrs a barrel by end-1987
and 22 dlrs a barrel by end-1988.
 REUTER
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5923" NEWID="17585">
<DATE> 1-JUN-1987 11:16:08.23</DATE>
<TOPICS><D>acq</D><D>pet-chem</D></TOPICS>
<PLACES><D>usa</D><D>france</D><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1365&#31;reute
u f BC-BORDEN-&lt;BN>-TO-ACQUIR   06-01 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>BORDEN &lt;BN> TO ACQUIRE MAJOR PASTA MAKER</TITLE>
<DATELINE>    NEW YROK, June 1 - </DATELINE><BODY>Borden Inc said it is acquiring &lt;Prince
Co Inc> and three companies producing grocery products for 180
mln dlrs.
    Borden said the four companies are expected to have 1987
sales totaling 230 mln dlrs.
    It said Prince, a Lowell, Mass., producer of pasta and
Italian food sauces, is expected to account for 210 mln dlrs of
this total. This year's sales of Borden pasta -- by the 13
regional brands and the premium Creamette brand distributed on
a nearly national basis -- are expected to toal 285 mln dlrs,
it said.
    Borden said the other three companies being acquired are
Steero Bouillon of Jersey City, N.J., Blue Channel Inc, a
Beaufort, S.C., producer of canned crabmeat, and the canned
shrimp products line of DeJean Packing Inc of Biloxi, Miss.
    Borden also said the divestment of three operations with
about 50 mln dlrs a year in sales is expected to produce nearly
45 mln dlrs in cash for use toward the purchase of new
businesses.
    It said the sale of Polyco of Cincinnati, Ohio, which makes
polyvinyl acetate emulsions, to Rohm and Haas Co &lt;ROH> was
announced by the buyer last month.
   
    Borden said the divestment of two producers of toy models
and hobby items -- Heller in France and Humbrol in England --
is in process.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5924" NEWID="17586">
<DATE> 1-JUN-1987 11:16:17.04</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1366&#31;reute
r f BC-KINCAID-FURNITURE-&lt;KN   06-01 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>KINCAID FURNITURE &lt;KNCD.O> REPURCHASES SHARES</TITLE>
<DATELINE>    HUDSON, N.C., June 1 - </DATELINE><BODY>Kincaid Furniture Co Inc said its
board has authorized the repurchase of up to 100,000 of its
common shares, or a 2.9 pct interest, in the open market or
privately from time to time.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5925" NEWID="17587">
<DATE> 1-JUN-1987 11:17:10.89</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1370&#31;reute
r f BC-AMERICAN-SAVINGS-&lt;AAA   06-01 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN SAVINGS &lt;AAA> NAMES NEW CHIEF EXECUTIVE</TITLE>
<DATELINE>    MIAMI, June 1 - </DATELINE><BODY>American Savings and Loan Association of
Florida said its board has named president and chief operating
officer Edward P. Mahoney to the added post of chief executive
officer, succeeding Morris N. Broad, who remains chairman.
    The company said Broad will focus on merchant banking
investments, real estate developments and mortgage lending
activities.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5926" NEWID="17588">
<DATE> 1-JUN-1987 11:17:16.16</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1371&#31;reute
r f BC-GENOVESE-DRUG-STORES   06-01 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>GENOVESE DRUG STORES INC &lt;GDXA.O> RAISES PAYOUT</TITLE>
<DATELINE>    MELVILLE, N.Y., June 1 -
    </DATELINE><BODY>Qtly div six cts vs five cts
    Pay June 30
    Record June 22
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5927" NEWID="17589">
<DATE> 1-JUN-1987 11:17:40.46</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1373&#31;reute
d f BC-(SUBURBAN-BANCORP),-(   06-01 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>(SUBURBAN BANCORP), (WOODSTOCK BANCORP) TO MERGE</TITLE>
<DATELINE>    PALATINE, Ill., June 1 - </DATELINE><BODY>(Suburban Bancorp Inc) and
(Woodstock State Bancorp Inc) said they agreed to a merger
under which Suburban will purchase Woodstock's shares for a
total of more than 18 mln dlrs in cash and Suburban Bancorp
shares.
    Woodstock is the holding company for the 110 mln dlr State
Bank of Woodstock. The merger will bring Suburban's assets to
661 mln dlrs and its total banks to 13.
    The merger is subject to regulatory and shareholder
approval.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5928" NEWID="17590">
<DATE> 1-JUN-1987 11:17:59.70</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1374&#31;reute
r f BC-NOVELL-&lt;NOVL.O>-UNVEI   06-01 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>NOVELL &lt;NOVL.O> UNVEILS NETWORKING PRODUCTS</TITLE>
<DATELINE>    ATLANTA, Ga., June 1 - </DATELINE><BODY>Novell Inc said it introduced a
series of new networking products that extend its NetWare local
area network (LAN) communications.
    One of the new products, an asynchronous bridge, connects
multiple remote NetWare LANs to a local to a local NetWare LAN
over telephone lines using high-speed modems, Novell said.
    Novell also said it has introduced a new asynchronous
gateway which provides NetWare LANS with access to resources on
minicomputers from Digital Equipment Corp &lt;DEC>, Data General
&lt;DGN>, Hewlett-Packard &lt;HWP>, Prime Computer Inc &lt;PRM> and
Tandem Computers &lt;TDM>.
    Novell also said that its CXI Inc unit has introduced a
series of new International Business Machines Corp &lt;IBM>
gateway products including a 40-session coaxial gateway
software, a variety of LAN workstation gateway sofware and new
software for PCOX gateways.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5929" NEWID="17591">
<DATE> 1-JUN-1987 11:23:36.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1402&#31;reute
u f BC-PAINEWEBBER-ANALYST-S   06-01 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>PAINEWEBBER ANALYST SEES RECORD AIRLINE PROFITS</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>PaineWebber Group Inc &lt;PWJ> analyst John
Pincavage says most airline stocks are undervalued in relation
to record industry earnings expected in 1987.
    Noting that the airlines as a group earned 85 mln dlrs in
the first quarter of 1987 compared with a loss of 625 mln dlrs
in the first quarter of 1986, Pincavage sees an improvement of
similar magnitude in the current quarter. He believes earnings
for the group will total about one billion dlrs in the second
quarter of 1987 compared with 250 mln dlrs in earnings in the
second quarter of 1986. "We're shaping up for a record year in
1987," Pincavage told Reuters.
    For the third quarter of 1987, Pincavage expects the group
to earn about 1.5 billion dlrs compared with one billion dlrs
in the same period of 1986.
    Noting that the summer quarter is always a peak period, he
says "at this point it's too soon to tell" about trends in the
latter months of 1987. But he says for the group as a whole,
fare discounting practices are not pressuring earnings like
they were last year.
    Pincavage has not changed any recommendations recently,
maintaining buys on Texas Air Corp &lt;TEX> NWA Inc &lt;NWA> and AMR
Corp &lt;AMR> and rating most others attractive.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5930" NEWID="17592">
<DATE> 1-JUN-1987 11:24:08.97</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1403&#31;reute
r f BC-BENETTON-SEES-HIGHER   06-01 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>BENETTON SEES HIGHER PROFIT, SALES IN 1987</TITLE>
<DATELINE>    FRANKFURT, June 1 - </DATELINE><BODY>Italian fashion conglomerate Benetton
Group Spa &lt;BTOM.MI> expects its net profit to rise to around
135 billion lire in 1987 from 113 billion the year before, Aldo
Palmeri, managing director of Benetton Group, said.
    Palmeri told a presentation here that sales should increase
to between 1,280 and 1,300 billion lire in 1987 from 1,079
billion in 1986, of which foreign sales were expected to take
up 850 billion lire.
    Benetton finance director Carlo Gilardi said the company
was planning to diversify further into the financial services
sector and would also expand into the shoe business.
    Benetton expanded into financial services mainly to speed
up the development of its own systems, Gilardi said. Benetton
has 400 sub-contractors and 600 distributor companies which
created a demand for such services. "But we do not plan to
abandon our traditional business," Gilardi said.
    Benetton plans to expand further outside Italy, especially
in the Far East. Talks are under way over a possible joint
venture with the Soviet Union and with South Korea.
    Palmeri said Benetton plans to list its shares in
Frankfurt, London, New York and Tokyo as part of its global
expansion but gave no dates when the listings would take place.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5931" NEWID="17593">
<DATE> 1-JUN-1987 11:31:42.62</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f1422&#31;reute
h f BC-U.K.-BANKERS-CONSIDER   06-01 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. BANKERS CONSIDER NEW ECGD FINANCING PLAN</TITLE>
<DATELINE>    LONDON, June 1 - </DATELINE><BODY>Representatives of major U.K. Based banks
are meeting here today to consider a new plan for reducing the
cost of financing British exports guaranteed by the Export
Credits Guarantee Department (ECGD), senior banking sources
said.
    The plan is being developed in conjunction with the ECGD
and the Bank of England.
    Neither the ECGD nor the Bank of England would comment on
the plan. However, bankers said one of the main points under
discussion is a plan to refinance the bulk of the ECGD's medium
term credit portfolio in the international capital markets.

    The proposals involve introducing a set of interest margins
on ECGD backed debt of 5/16 to 7/8 pct, depending on the size
and maturity of the credit and the currency.
    The banks are likely to push for a higher margin. Bankers
said that while these rates would reduce a bank's return they
would still be more than those proposed about a year ago when
the government attempted unsuccessfully to initiate another
cost reduction plan.
    At the same time, the banks would be expected to allow the
ECGD to realise additional savings by refinancing existing
government backed credit in the capital markets.

    On credits that are refinanced an original lender would
receive a residual margin of 7/16 pct for loans up to 10 mln
stg and 3/16 pct on larger transactions.

 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5932" NEWID="17594">
<DATE> 1-JUN-1987 11:35:07.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1442&#31;reute
u f BC-COMMUNICATIONS-SYSTEM   06-01 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>COMMUNICATIONS SYSTEMS INC &lt;CSII.O> UPS DIVIDEND</TITLE>
<DATELINE>    HECTOR, MINN., June 1 - 
    </DATELINE><BODY>Qtly div six cts vs five cts prior qtr
    Pay 1 July
    Record 19 June
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5933" NEWID="17595">
<DATE> 1-JUN-1987 11:35:18.42</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F E
&#22;&#22;&#1;f1443&#31;reute
u f BC-COKE-CONSOLIDATED-&lt;CO   06-01 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>COKE CONSOLIDATED &lt;COKE.O> TO SELL CANADA UNIT</TITLE>
<DATELINE>    CHARLOTTE, N.C., June 1 - </DATELINE><BODY>Coca-Cola Bottling Co
Consolidated said it has agreed in principle to sell its
Vancouver-based Canadian bottling subsidiary to Coca-Cola Co
&lt;KO> for undisclosed terms, with closing expected within 60
days subject to regulatroy approvals.
    The company said the sale, a previously-announced agreement
for Coca-Cola to buy 1,600,000 Coke Consolidated common shares
and operating cash flow should allow it to reduce its long-term
debvt to about 200 nmln dlrs from 325 mln dlrs at the end of
the first quarter.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5934" NEWID="17596">
<DATE> 1-JUN-1987 11:36:44.35</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1449&#31;reute
u f BC-CAMPEAU-&lt;CMP.T>-UNIT   06-01 0036</UNKNOWN>
<TEXT>&#2;
<TITLE>CAMPEAU &lt;CMP.T> UNIT TO SELL GARFINCKEL'S</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Campeau Corp said its Allied Stores Corp
entered into a definitive agreement to sell its Garfinckel's
division to &lt;Raleigh Stories Corp> for 95 mln dlrs.
     The transaction is expected to close in July, the company
said.
    Garfinckel's net sales for fiscal 1986 were 111.9 mln dlrs,
the company said.
    Campeau said it expects to sell its remaining Allied
divisions in the near future. Campeau announced its first
agreement to sell an Allied unit in April, the company said.
                                      
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5935" NEWID="17597">
<DATE> 1-JUN-1987 11:37:03.53</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1452&#31;reute
d f BC-WALLACE-COMPUTER-&lt;WCS   06-01 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>WALLACE COMPUTER &lt;WCS> BUY OFFICE PRODUCTS FIRM</TITLE>
<DATELINE>    HILLSIDE, ILL., June 1 - </DATELINE><BODY>Wallace Computer Services Inc said
it acquired for 12 mln dlrs in cash and industrial revenue
bonds, certain assets of Rockwell-Barnes Inc, a Chicago-based
office products company.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5936" NEWID="17598">
<DATE> 1-JUN-1987 11:37:13.23</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D><D>japan</D><D>usa</D><D>france</D></PLACES>
<PEOPLE><D>kohl</D><D>ciampi</D><D>stoltenberg</D><D>poehl</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1453&#31;reute
u f BC-BONN-SEEN-REJECTING-N   06-01 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>BONN SEEN REJECTING NEW GROWTH MEASURES AT SUMMIT</TITLE>
<AUTHOR>    By Anthony Williams, Reuters</AUTHOR>
<DATELINE>    BONN, June 1 - </DATELINE><BODY>West Germany will stand firm at next week's
economic summit in Venice against foreign pressure to follow
Japan's example of a multi-billion dlr package to stimulate the
economy, West German officials said.
    They conceded Japan's announcement last week of a 6,000
billion yen plan to bolster its economy would throw the
spotlight back on West Germany, which would face redoubled
calls from its partners to stimulate sluggish growth.
    (See ECRA page for latest Economic Spotlights)
    This view has already been voiced in Washington, where
officials spoke at the weekend of behind-the-scenes
consultations with Chancellor Helmut Kohl with the aim of
securing a quick pledge to take action on the economy.
    Italy's central bank governor Carlo Ciampi has also
criticized West Germany's reluctance "to utilize its economic
potential" for expansionary policies.
    But West German officials said it was virtually
inconceivable that Kohl would make any concessions in Venice
despite a sharp economic downswing at the start of this year.
    "There is just no room for manoeuvre for any economic moves,"
said one official, echoing statements by both Kohl and Finance
Minister Gerhard Stoltenberg.
    Stoltenberg already has problems finding the cash to
finance a series of tax cuts promised for 1990, and has said
his budget is now stretched to the limit.
    He is reluctantly letting government borrowing rise while
federal income falls as a result of the tax cuts, which he
hopes will stimulate growth and satisfy foreign critics.
    "West Germany is exhausting to the furthest possible limit
its fiscal scope as far as growth and employment is concerned,"
Stoltenberg said last month.
    But U.S. Treasury Assistant Secretary David Mulford said
Europeans and the U.S. Were worried by flagging German growth.
    "We and others are concerned about the continued signs of
weakness in the German economy," he said. Other U.S. Officials
said France shared these worries.
    Kohl will go to Venice only days after the publication of
figures expected to show that the West German economy actually
contracted in the first three months of 1987.
    West Germany has pledged to review possible measures should
further growth be endangered, but officials say they do not
expect such a review to be necessary.
    Bonn says the economy rebounded in the second quarter and
it predicts growth of just under two pct for the year.
    West Germany's trading partners are also likely to wait in
in vain for any further pump-priming from the Bundesbank.
    Bundesbank vice-president Helmut Schlesinger made clear
today the bank would keep interest rates down, but said there
were no plans for a cut in the Bundesbank's key discount rate,
which, at three pct, is near historical lows.
    Bundesbank President Karl Otto Poehl also spoke over the
weekend of the need for all countries to play a role on the
international economic scene.
    "We have to recognise that there are also limits to economic
growth in a country like Germany," he said.
    This stance was taken by Kohl when he outlined expectations
for the Venice summit in an interview last week.
    Referring to West Germany's program of tax cuts and its low
interest rates, he said, "With these policies we have made a
significant contribution to growth and to a balanced
development of the world economy."
    Kohl expected no new initiatives from Venice, though he
reckoned on confirmation of agreed policies, such as a pact
made in Paris in February which sought to stabilize the dollar.
    That pact involved a pledge from the United States and
Japan, respectively to cut the massive American budget deficit
and to stimulate Japanese demand.
    Kohl said he would remind both Washington and Tokyo of
those promises.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5937" NEWID="17599">
<DATE> 1-JUN-1987 11:37:19.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1454&#31;reute
r f BC-ALGER-TO-EXPAND-DISTR   06-01 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>ALGER TO EXPAND DISTRIBUTION OF OPEN-ENDED FUND</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>&lt;Alger Inc> said it will sell the Alger
Fund through broker-dealers as a result of its agreement with
Dealer Network Services, a division of the newly-established
&lt;Rutland Securities L.P.>.
    The fund formerly was sold only directly to investors,
Alger said.
    Dealer Network Services is organizing a countrywide group
of established broker-dealers to sell the Alger Fund, Alger
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5938" NEWID="17600">
<DATE> 1-JUN-1987 11:37:31.88</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>nasdaq</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1455&#31;reute
h f BC-TWO-JOIN-NASDAQ-NATIO   06-01 0040</UNKNOWN>
<TEXT>&#2;
<TITLE>TWO JOIN NASDAQ NATIONAL MARKET SYSTEM</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>CSC Industries Inc &lt;CPSL.O> and ENZON
Inc &lt;ENZN.O> said their common stocks will be added to the
National Association of Securities Dealers' NASDAQ National
Market System tomorrow.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5939" NEWID="17601">
<DATE> 1-JUN-1987 11:38:43.17</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f1458&#31;reute
r f BC-SUN-&lt;SUN>-TO-ACQUIRE   06-01 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>SUN &lt;SUN> TO ACQUIRE MORE OF WYOMING FIELD</TITLE>
<DATELINE>    FORT WORTH, Texas, - </DATELINE><BODY>&lt;Wolverine Exploration Co> said
substantially all the material aspects of the agreement to sell
its 8.95 pct working interest in the Luckey Ditch unit in Unita
County, Wyo., to Sun Co Inc have been satisfied.
    Closing of the transaction is scheduled for June eight,
Wolverine said. The company agreed to sell its interest for
7,250,000 dlrs, subject to downward adjustment for certain
title and state requirements. Sun already owns a 44 pct working
interest in the unit.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5940" NEWID="17602">
<DATE> 1-JUN-1987 11:39:11.58</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>nasdaq</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1460&#31;reute
r f BC-SECOM-GENERAL-TO-LIST   06-01 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>SECOM GENERAL TO LIST ON NASDAQ</TITLE>
<DATELINE>    CHAPEL HILL, N.C., June 1 - </DATELINE><BODY>Secom General Corp said its
common stock will be listed on the NASDAQ system tomorrow.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5941" NEWID="17603">
<DATE> 1-JUN-1987 11:39:26.47</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1461&#31;reute
r f BC-KROGER-&lt;KR>-EMPLOYEES   06-01 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>KROGER &lt;KR> EMPLOYEES TO VOTE ON NEW CONTRACT</TITLE>
<DATELINE>    DENVER, June 1 - </DATELINE><BODY>Kroger Co said members of the United Food
and Commercial Workers Union, which have been on strike against
its King Soopers Supermarkets division for the past two weeks,
will vote tonight on a new contract proposal.
    It said the union has removed pickets from King Soopers
stores pending the outcome of the vote.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5942" NEWID="17604">
<DATE> 1-JUN-1987 11:40:04.98</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1463&#31;reute
r f BC-CISTRON-BIOTECHNOLOGY   06-01 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>CISTRON BIOTECHNOLOGY &lt;CIST.O> IN MARKETING DEAL</TITLE>
<DATELINE>    PINE BROOK, N.J., June 1 - </DATELINE><BODY>Cistron Biotechnology Inc said
it has reached a marketing agreement for a "major multinational
consumer products company" it did not name to seek U.S. Food
and Drug Administration approvals for over the counter sales of
Cistron's home test for detection of vaginal infections.
    The company said product commercialization could take place
within 18 months.  The new tests are expected to retail for 10
to 20 dlrs each and take about 30 minutes for results to become
known.  It said its agreement with the major company also
covers worldwide sales.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5943" NEWID="17605">
<DATE> 1-JUN-1987 11:40:39.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1465&#31;reute
r f BC-&lt;REALM-RESOURCES-INC>   06-01 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;REALM RESOURCES INC> SELLS SHARES PRIVATELY</TITLE>
<DATELINE>    HOUSTON, June 1 - </DATELINE><BODY>Realm Resources Inc said it has sold
privately 500,000 common shares and 500,000 shares of three dlr
per share Series A preferred stock for total proceeds of
1,500,000 dlrs.
    The company said proceedsd will be used to funds oil and
natural gas prospect generation efforts.
    Realm also said it has placed a large block of Canadian
metals mining company Getty Redsources Ltd with a group of
investors and expects to earn a fee of up to one mln dlrs for
its efforts, with proceeds to be used to fund investments in
mining ventures, particularly precious metals ventures.
    Realm further said its Class A common stock has been
converted to common stock to simplify its capital structure.
    It said it is considering a filing for a NASDAQ listing.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5944" NEWID="17606">
<DATE> 1-JUN-1987 11:41:11.84</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1469&#31;reute
d f BC-STAR-TECHNOLOGIES-NAM   06-01 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>STAR TECHNOLOGIES NAMES NEW PRESIDENT AND CEO</TITLE>
<DATELINE>    STERLING, Va., June 1 - </DATELINE><BODY>Star Technologies Inc &lt;STRR.O> said
it has appointed Robert Mathis as president and chief executive
officer.
    Mathis, a retired four-star general with the U.S. Air
Force, and formerly president of &lt;Toomay, Mathis and Associates
Inc>, replaces Herbert Shaw, who is returning to his position
at &lt;Shaw Venture Partners>, Star said.
    Star said Shaw will continue as Star's chairman of the
board.
  
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5945" NEWID="17607">
<DATE> 1-JUN-1987 11:41:20.15</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f1471&#31;reute
d f BC-CONSOLIDATED-PROFESSO   06-01 0035</UNKNOWN>
<TEXT>&#2;
<TITLE>CONSOLIDATED PROFESSOR &lt;CPF.TO> 1ST QTR NET</TITLE>
<DATELINE>    TORONTO, June 1 -
    </DATELINE><BODY>Shr profit one ct vs nil
    Net profit 163,016 vs loss 23,527
    Revs 250,469 vs 48,473
    Note: Full name Consolidated Professor Mines Ltd.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5946" NEWID="17608">
<DATE> 1-JUN-1987 11:41:32.70</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>reagan</D><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1472&#31;reute
f f BC-******WHITE-HOUSE-SAY   06-01 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>WHITE HOUSE SAYS REAGAN HAS NOT DECIDED WHETHER TO RENAME VOLCKER AT FED
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5947" NEWID="17609">
<DATE> 1-JUN-1987 11:42:09.72</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1475&#31;reute
d f BC-STAR-TECHNOLOGIES-&lt;ST   06-01 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>STAR TECHNOLOGIES &lt;STRR.O> NAMES NEW PRESIDENT</TITLE>
<DATELINE>    STERLING, Va., June 1 - </DATELINE><BODY>Star Technologies Inc said it has
appointed Robert Mathis as president and chief executive
officer, effective June one.
    Mathis, a retired four-star general with the U.S. Air
Force, and formerly president of &lt;Toomay, Mathis and Associates
Inc>, replaces Herbert Shaw, who is returning to his position
at &lt;Shaw Venture Partners>, Star said.
    Star said Shaw will continue as Star's chairman of the
board.
  
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5948" NEWID="17610">
<DATE> 1-JUN-1987 11:42:37.31</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1477&#31;reute
d f BC-EMERY-&lt;EAF>-NAMES-KIL   06-01 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>EMERY &lt;EAF> NAMES KILCULLEN HEAD OF PUROLATOR</TITLE>
<DATELINE>    WILTON, Conn., June 1 - </DATELINE><BODY>Emery Air Freight Corp, which
acquired controlling interest in Purolator Courier Corp &lt;PCC>,
said it has named John Kilcullen executive vice president and
chief operating officer of Purolator.
    Previously, Emery said Kilcullen was Purolator's executive
vice president of operations.
    Emery said Kilcullen now heads the Purolator executive
management team and reports to Emery President Denis McCarthy.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5949" NEWID="17611">
<DATE> 1-JUN-1987 11:49:47.52</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f1498&#31;reute
r f BC-OCCIDENTAL-&lt;OXY>-UNIT   06-01 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>OCCIDENTAL &lt;OXY> UNIT DELAYS REDEMPTION DATE</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Occidental Petroleum Corp said its unit
Natural Gas Pipeline will delay until July second its
redemption of 202 mln dlrs of debt.
    Natural Gas previously announced a call date of June 29.
    The unit will redeem all five of its first mortgage
pipeline bonds including the 8-1/8s and 9-1/2s of 1989, the
7.70s of 1991, the 8.35s of 1993 and the 9-1/4s of 1995.
    It will also retire its 15-3/8 pct debentures due 1992, the
9-1/2 pct debentures due 1990 as well as all outstanding 9-7/8
pct notes due 1994 and 8-1/8 pct notes due 1988.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5950" NEWID="17612">
<DATE> 1-JUN-1987 11:50:23.62</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f1500&#31;reute
d f BC-GEODYNE-&lt;GEOD.O>-SETS   06-01 0135</UNKNOWN>
<TEXT>&#2;
<TITLE>GEODYNE &lt;GEOD.O> SETS WARRANTS, ACQUISITION</TITLE>
<DATELINE>    TULSA, June 1 - </DATELINE><BODY>Geodyne Resources Inc said iit filed a
registration with the Securities and Exchange Commission
covering a planned offering of 3.6 mln warrants to buy its
common.
    The company also said its board is evaluating a proposal to
acquire closely-held &lt;Snyder Exploration Co> for one mln
Geodyne shares. Members of Geodyne's senior management also
serve as senior management at Snyder and PaineWebber Group Inc
&lt;PWJ>, which owns 40 pct of Geodyne's 12.6 mln outstanding
shares, has a substantial equity interest in Snyder.
    The acquisition is being evaluated by Geodyne board members
not employed by the company, PaineWebber or any company
affiliated with PaineWebber. It will be subject to approval by
the board and series C preferred shareholders.
    Geodyne Resources said a registration related to the stock
to be exchanged for Snyder has been filed with the SEC but has
not yet become effective.
    The Snyder owners other than PainWebber are Geodyne's
president, Michael W. Tomasso, and its executive vice
president, James D. Snyder.
    The company said the warrants will be offered solely to
investors in the PaineWebber/Geodyne Energy Income Program II.
For every 100 dlrs invested in the program, an investor will be
entitled to buy one warrant to purchase one Geodyne common
share at a price equal to 120 pct of the average closing price
of the stock for the 15 trading days prior to formation of the
partnership to which the investor subscribes.
    In adddition, Geodyne said, PaineWebber investment
executives who market the program will be entitled to receive
one warrant for every 500 dlrs in subcriptions generated after
a four-year vesting period. These warrants would have an
exercise price equal to 150 pct of the 15-day average.
    The company said the warrants are currently priced at 25
cts each, but this price is suject to further evaluation by an
independent underwriter.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5951" NEWID="17613">
<DATE> 1-JUN-1987 11:50:30.06</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1501&#31;reute
s f BC-CENTRAL-HOLDING-CO-&lt;C   06-01 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>CENTRAL HOLDING CO &lt;CHOL.O> SETS QUARTERLY</TITLE>
<DATELINE>    MOUNT CLEMENS, Mich., June 1 -
    </DATELINE><BODY>Qtly div five cts vs five cts prior
    Pay July 15
    Record June 30
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5952" NEWID="17614">
<DATE> 1-JUN-1987 11:50:34.45</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1502&#31;reute
s f BC-FIRST-MISSISSIPPI-COR   06-01 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST MISSISSIPPI CORP &lt;FRM> SETS QUARTERLY</TITLE>
<DATELINE>    JACKSON, Miss., June 1 -
    </DATELINE><BODY>Qtly div five cts vs five cts prior
    Pay July 28
    Record June 30
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5953" NEWID="17615">
<DATE> 1-JUN-1987 11:51:05.67</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>reagan</D><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1504&#31;reute
b f BC-/NO-DECISION-YET-ON-R   06-01 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>NO DECISION YET ON RENAMING VOLCKER AT FED</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>The White House said President Reagan
had made no decision on whether to reappoint Paul Volcker as
chairman of the Federal Reserve Board when Volcker's term
expires in August.
    "No decision has been made on chairman Volcker ... He has
not discussed this with the president, and no decision has been
made one way or another," White House spokesman Marlin Fitzwater
said.
    Asked if Reagan would discuss the issue with Volcker before
leaving for the Venice summit on Wednesday, Fitzwater said, "I
have no idea."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5954" NEWID="17616">
<DATE> 1-JUN-1987 11:51:12.95</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1505&#31;reute
d f BC-DETECTION-SYSTEMS-&lt;DE   06-01 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>DETECTION SYSTEMS &lt;DETC.O> YEAR END MARCH 31</TITLE>
<DATELINE>    FAIRPORT, N.Y., June 1 -
    </DATELINE><BODY>Shr 36 cts vs nil
    Net 713,000 vs 1,500
    Revs 13 mln vs 9,328,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5955" NEWID="17617">
<DATE> 1-JUN-1987 11:51:54.07</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1510&#31;reute
d f BC-J.-BILDNER-AND-SONS-I   06-01 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>J. BILDNER AND SONS INC &lt;JBIL.O> 1ST QTR</TITLE>
<DATELINE>    BOSTON, June 1 -
    </DATELINE><BODY>Shr one ct vs nil
    Net 32,345 vs 3,772
    Revs 9,946,578 vs 5,939,252
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5957" NEWID="17618">
<DATE> 1-JUN-1987 11:59:02.47</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>norway</D></PLACES>
<PEOPLE><D>oeien</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1520&#31;reute
d f BC-COMPROMISE-SEEN-LIKEL   06-01 0120</UNKNOWN>
<TEXT>&#2;
<TITLE>COMPROMISE SEEN LIKELY OVER CONOCO-STATOIL DISPUTE</TITLE>
<DATELINE>    OSLO, June 1 - </DATELINE><BODY>Norway is expected to seek a compromise
solution to defuse a row between Den Norske Stats Oljeselskap
A/S &lt;STAT.OL> (Statoil) and Conoco Norge A/S over which firm
will operate the Heidrun oil field, government sources said.
    The sources, who asked not to be named, said the government
will likely recommend that Conoco be allowed to continue as the
field's operator through the development phase, with Statoil
taking over only after production starts in the early 1990s.
    Oil Minister Arne Oeien told Reuters the government had
today discused the Heidrun matter but that no final decision
had been taken and several questions remained unresolved.
    It was unlikely the government would announce its decision
on Heidrun operatorship until after Thursday's cabinet meeting
and after discussing a proposed solution with both companies,
the sources added.
    This spring Norway's state-owned oil company Statoil
exercised an option in the Heidrun field exploration license
that, if approved by the government, would allow it to relieve
Conoco as Heidrun operator, a move sharply criticised by
Conoco.
    Heidrun is often cited by the government and industry as
the most likely candidate for the first field development
project on the Haltenbanken exploration tract off central
Norway.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5958" NEWID="17619">
<DATE> 1-JUN-1987 12:00:09.15</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1524&#31;reute
r f BC-FIAT-UNIT-FIDIS-REPOR   06-01 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>FIAT UNIT FIDIS REPORTS SHARPLY HIGHER 1986 PROFIT</TITLE>
<DATELINE>    TURIN, June 1 - </DATELINE><BODY>Year 1986
    Net profit 132 billion lire vs 82 billion
    Ordinary share dividend 500 lire vs 400
    Note - &lt;Finanziaria Di Sviluppo Spa>, a financial services
subsidiary of Fiat Spa &lt;FIAT.MI>, said in a statement that
shareholders approved a previously announced nominal share
capital increase from 125 billion lire to 250 billion.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5959" NEWID="17620">
<DATE> 1-JUN-1987 12:01:07.70</DATE>
<TOPICS><D>interest</D><D>money-fx</D><D>dfl</D><D>dmk</D></TOPICS>
<PLACES><D>netherlands</D><D>west-germany</D></PLACES>
<PEOPLE><D>duisenberg</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1526&#31;reute
b f BC-DUTCH-OFFICIAL-RATE-C   06-01 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>DUTCH OFFICIAL RATE CUT SEEN STILL LIKELY</TITLE>
<AUTHOR>    By Marcel Michelson, Reuters</AUTHOR>
<DATELINE>    AMSTERDAM, June 1 - </DATELINE><BODY>A cut of about half a percentage point
in Dutch official interest rates is still in prospect, although
economists said the timing would depend on Bundesbank moves.
    Speculation has been rife that the Dutch Central Bank,
encouraged by a strong guilder/mark relationship and wide
premiums for Dutch money and capital market rates over German,
might lower rates without the Bundesbank moving first.
    Last month, the Central Bank lowered its special advances
rate to 5.1 pct from 5.25 pct after the Bundesbank dropped its
repurchase tender rate to 3.55 pct from 3.8 pct.
    That rate has remained in force, just holding above the
five pct official secured loans rate which governs commercial
bank borrowings.
    Given a strong guilder, a further fall in the West German
repo rate would trigger a lower special advances tariff,
forcing an official Dutch rate cut, analysts said.
    In February, when the Bundesbank cut its discount rate to
three pct from 3.5 pct, the Central Bank only lowered money
market rates and removed a surcharge over the secured loans
rate on lending under its three month credit quota.
    Since then, however, both the Central Bank and Finance
Ministry have made it clear they favour lower official rates.
    In April, Central Bank President Wim Duisenberg said he
would follow any Bundesbank cut, and last week the Finance
Ministry expressed satisfaction when it raised 2.25 billion
guilders with a six pct coupon state loan priced at 100.10 pct
for an effective yield of 5.98 pct, the lowest since 1965.
    Technically, analysts said, there has to be a difference
between the secured loans rate which applies to lending under
the credit quota, and the tariff on special advances which add
extra liquidity to the money market.
    Bank economists and dealers said a West German move to
further lower the rate on securities repurchase pacts would
result in the Central Bank easing the special advance rate,
provided the guilder/mark relationship permitted.
    The Central Bank aims to keep the guilder stable around its
parity value within the European Monetary System of 112.673
guilders per 100 marks.
    Today, foreign exchange buying pushed the mark up 10
guilder cents to 112.705 guilders per 100 at the fix, a level
that would not permit a change in the interest rate
differential between West Germany and the Netherlands, dealers
said.
    An economist at ABN Bank said he expected West German and
Dutch interest rates to ease in the short term. However, he
said new wage agreements in West Germany had raised inflation
expectations which would put upward pressure on interest rates
in the longer term.
    In the Netherlands, the inflation outlook for 1987 is nil,
or even negative, while the latest official economic forecasts
point to a falling rate of economic growth.
    "It will depend on the outcome of collective wage agreement
negotiations here whether there could be cost push inflation,"
the ABN economist said.
    He said Dutch money supply growth, which ran at 3.4 pct in
January, could also contribute to some inflation.
    At Amro Bank, a leading analyst said inflation could run to
two pct next year. The bank expects Dutch capital market rates,
currently averaging around 6.1 pct, to stop easing in the
second half of this year and stabilize around 5.6 pct.
    Analysts said an official rate cut could trigger a buying
spree on the bond market which would bring yields down,
probably only temporarily, while money rates could fall below
five pct.
    Currently, all periods are traded at 5.12 to 5.25 pct in
the money market.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5960" NEWID="17621">
<DATE> 1-JUN-1987 12:01:25.49</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>france</D><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1527&#31;reute
r f BC-GLOBAL-EQUITY-OFFERIN   06-01 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>GLOBAL EQUITY OFFERINGS RISING AT RECORD RATES</TITLE>
<DATELINE>    LONDON, June 1 - </DATELINE><BODY>Cross border stock market investment is
rising at unprecedented rates, seeking a high return and
diversification, Charles Lillis, associate director of &lt;Merrill
Lynch Europe Ltd>, a subsidiary of Merrill Lynch and Co Inc
&lt;MER.N>, said.
    He told an international equities seminar here that global
equity offerings amounted to 3.7 billion dlrs in the first
quarter, compared with 11.4 billion dlrs in all of last year
and 4.1 billion dlrs in 1985.
    He said most new issues would come from countries with
underdeveloped potential, such as  France and Italy.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5961" NEWID="17622">
<DATE> 1-JUN-1987 12:05:46.19</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f1554&#31;reute
u f BC-/NORTHGATE-QUEBEC-GOL   06-01 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>NORTHGATE QUEBEC GOLD WORKERS END STRIKE</TITLE>
<DATELINE>    TORONTO, June 1 - </DATELINE><BODY>Northgate Exploration Ltd said
hourly-paid workers at its two Chibougamau, Quebec mines voted
on the weekend to accept a new three-year contract offer and
returned to work today after a one-month strike.
    It said the workers, represented by United Steelworkers of
America, would receive a 1.21 dlr an hour pay raise over the
life of the new contract and improved benefits.
    Northgate, which produced 23,400 ounces of gold in first
quarter, said that while the strike slowed production, "We are
still looking forward to a very satisfactory performance."
    The Chibougamau mines produced 81,500 ounces of gold last
year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5962" NEWID="17623">
<DATE> 1-JUN-1987 12:08:40.30</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1571&#31;reute
b f BC-NATIONAL-HOME-LOANS-L   06-01 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>NATIONAL HOME LOANS LAUNCHES 100 MLN DLR EUROBOND</TITLE>
<DATELINE>    FRANKFURT, June 1 - </DATELINE><BODY>National Home Loans Corp Plc of London
is raising 100 mln dlrs through a five-year bullet eurobond
carrying an 8-3/4 pct coupon and priced at 100-5/8 pct to yield
8.59 pct at issue, lead manager Commerzbank AG said.
    Payment date is July 7. The bond pays interest on that date
annually, and matures on that date in 1992. Denominations are
1,000 and 10,000 dlrs. The bond will be listed in London.
    Fees total 1-7/8 pct, comprising 5/8 pct for management and
underwriting combined and 1-1/4 pct for selling.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5963" NEWID="17624">
<DATE> 1-JUN-1987 12:11:00.22</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1591&#31;reute
f f BC-******INTERNATIONAL-M   06-01 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>INT'L MINERALS/CHEMICAL GETS EPA APPROVAL FOR GENETICALLY ENGINEERED PRODUCT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5964" NEWID="17625">
<DATE> 1-JUN-1987 12:12:21.68</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1603&#31;reute
r f BC-ROYAL-GOLD-&lt;RGLD.O>-A   06-01 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>ROYAL GOLD &lt;RGLD.O> AGREES TO MAKE ACQUISITION</TITLE>
<DATELINE>    DENVER, June 1 - </DATELINE><BODY>Royal Gold Inc said it has signed two
agreements in principle to acquire the stock of two
&lt;Transwestern Mining Co> units for 1.1 mln shares of Royal Gold
common stock.
    Royal said the assets of the units it will acquire from
Transwestern are mostly gold properties.
    It added it expects to close the deals on June 18 and 19,
subject to standard closing conditions, including title and
environmental approval and closing of a definitive agreement.
    Royal said the shares issued in the deal will be subject to
registration rights.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5965" NEWID="17626">
<DATE> 1-JUN-1987 12:12:33.39</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1605&#31;reute
r f BC-INTEGRATED-IN-PACT-WI   06-01 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>INTEGRATED IN PACT WITH NYNEX &lt;NYN> UNIT</TITLE>
<DATELINE>    BRIDGEWATER, N.J., June 1 - </DATELINE><BODY>&lt;Integrated Network Corp> said
it entered into an agreement with Nynex Corp's Nynex
Enterprises Corp which could enable New England Telephone and
New York Telephone to offer advanced data capability.
    Nynex Enterprises is testing Intergrated's data/voice and
universal switched data capability system, the company said.
    Integrated said the system is capable of enabling New
England and New York telephone companies to provide certain
circuit-switched data transmission and certain simultaneous
voice and data transmissions using the existing telephone
network, the company said.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5966" NEWID="17627">
<DATE> 1-JUN-1987 12:12:59.09</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f1608&#31;reute
r f BC-TELEGLOBE-HAS-CANADA/   06-01 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>TELEGLOBE HAS CANADA/FRANCE SATELLITE LINK</TITLE>
<DATELINE>    MONTREAL, June 1 - </DATELINE><BODY>Teleglobe Canada Inc, owned by Memotec
Data Inc (MDI.M), said it received an order from Credit
Lyonnais Canada for a direct satellite link between Canada and
France that will be the first private satellite network between
the two countries.
    Value of the contract was undisclosed.
    Teleglobe said the connection will provide the bank with a
permanent link to the digital phone switch at its parent
company's Paris headquarters and connect it with Credit
Lyonnais' network in France and the rest of the world.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5956" NEWID="17628">
<DATE> 1-JUN-1987 12:13:39.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f1614&#31;reute
r f BC-STG-COMMERCIAL-PAPER   06-01 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>STG COMMERCIAL PAPER EXCEEDS ONE BILLION IN APRIL</TITLE>
<DATELINE>    LONDON, June 1 - </DATELINE><BODY>Total sterling commercial paper
outstanding rose 251 mln stg to 1.19 billion in April, taking
it above one billion stg for the first time since the market
opened in May 1986, figures released today by the Bank of
England show.
    Banks' holdings of commercial paper totalled 264 mln stg at
end-April, down six mln from March.
    Of the total, 225 mln had been issued by U.K. Companies, up
three mln from March. Changes in these holdings are included in
the  "bank lending in sterling to the U.K. Non-bank private
sector" component of M3 money supply.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5967" NEWID="17629">
<DATE> 1-JUN-1987 12:14:30.77</DATE>
<TOPICS></TOPICS>
<PLACES><D>nigeria</D></PLACES>
<PEOPLE><D>perez-de-cuellar</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1619&#31;reute
u f BC-NIGERIA-HOSTS-TALKS-O   06-01 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>NIGERIA HOSTS TALKS ON AFRICAN ECONOMIES</TITLE>
<DATELINE>    LAGOS, June 1 - </DATELINE><BODY>A conference to assess the economic
recovery of African states begins in the proposed Nigerian
capital Abuja on June 15, Foreign Ministry officials said
today.
    Organised by Nigeria in collaboration with the Economic
Commission for Africa, the June 15-19 conference would be
attended by several African leaders as well as United Nations
Secretary General Perez De Cuellar, they said.
    Huge debts, falling prices of their export commodities and
in some cases drought have imposed severe hardships on the
economies of African states.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5968" NEWID="17630">
<DATE> 1-JUN-1987 12:14:54.57</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1622&#31;reute
d f BC-HAWKINS-CHEMICAL-INC&lt;   06-01 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>HAWKINS CHEMICAL INC&lt;HWKN.O> 2ND QTR MAR 31 NET</TITLE>
<DATELINE>    MINNEAPOLIS, MINN., June 1 -
    </DATELINE><BODY>Shr 12 cts vs six cts
    Net 398,318 vs 211,801
    Sales 7,385,107 vs 7,275,162
    Six Mths
    Shr 22 cts vs 13 cts
    Net 736,219 vs 446,288
    Sales 14.3 mln vs 14.2 mln
    NOTE: Per share earnings adjusted for ten pct stock
dividend paid February 1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5969" NEWID="17631">
<DATE> 1-JUN-1987 12:14:58.31</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1623&#31;reute
s f BC-EQUITABLE-REAL-ESTATE   06-01 0035</UNKNOWN>
<TEXT>&#2;
<TITLE>EQUITABLE REAL ESTATE SHOPPING &lt;EQM> PAYS DIVI</TITLE>
<DATELINE>    NEW YORK, June 1 -
    </DATELINE><BODY>Qtrly div 25 cts vs 25 cts
    Pay Aug 15
    Record June 30
    NOTE: Full name of company is equitable real estate
shopping centers l.p.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5970" NEWID="17632">
<DATE> 1-JUN-1987 12:17:35.79</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f1633&#31;reute
r f BC-NORTHGATE-&lt;NGX>-QUEBE   06-01 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>NORTHGATE &lt;NGX> QUEBEC WORKERS END STRIKE</TITLE>
<DATELINE>    TORONTO, June 1 - </DATELINE><BODY>Northgate Exploration Ltd said
hourly-paid workers at its two Chibougamau, Quebec, mines voted
on the weekend to accept a three-year contract offer and
returned to work today after a one-month strike.
    It said the workers, represented by United Steelworkers of
America, would receive a 1.21-dlr-an-hour pay raise over the
life of the new contract and improved benefits.
    Northgate, which produced 23,400 ounces of gold in first
quarter, said that while the strike slowed production, "We are
still looking forward to a very satisfactory performance." The
Chibougamau mines produced 81,500 ounces of gold last year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5971" NEWID="17633">
<DATE> 1-JUN-1987 12:17:51.08</DATE>
<TOPICS><D>jobs</D></TOPICS>
<PLACES><D>portugal</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f1634&#31;reute
r f BC-PORTUGUESE-UNEMPLOYME   06-01 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>PORTUGUESE UNEMPLOYMENT STEADY IN FIRST QUARTER</TITLE>
<DATELINE>    LISBON, June 1 - </DATELINE><BODY>Unemployment in Portugal held steady at
9.6 pct in the first quarter of 1987 after the same rate in the
last quarter of 1986, the National Statistics Institute said.
    This compared with 11.1 pct unemployment in the first
quarter of 1986.
    The total number of registered unemployed in the first
quarter of this year was 437,500.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5972" NEWID="17634">
<DATE> 1-JUN-1987 12:18:59.46</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1639&#31;reute
u f BC-U.S.-BUDGET-ACCORD-MA   06-01 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. BUDGET ACCORD MAY BE REACHED THIS WEEK</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>Congressional budget negotiators may 
reach an agreement this week on a 1988 budget plan, House and
Senate Budget Committee sources said.
    They held out hope that an agreement can be hammered out,
especially over the thorny issues of taxes and defence spending
levels.
    "It may come this week," a Senate source said. "They are
making progress," a House source said about back room
negotiations.
    Despite these new notes of optimism, earlier hopes for
quick agreement had been dashed when negotiators stalled.      

    House and Senate negotiators, working on different budgets,
have been stymied over proposals for new taxes and defence
spending levels. Both measures seek 18 billion dlrs in new
taxes in 1988, but the Senate proposes nearly 119 billion dlrs
in taxes over a four year span, while the House calls for only
57 billion dlrs over three years.
    The Senate plan would allocate about seven billion dlrs a
year for defence, a proposal not in the House plan which calls
for 1988 defence spending levels nearly eight billion dlrs
under the Senate plan.         
    The two sides have not had a formal negotiating meeting
since May 13. Both House and Senate would have to approve a
final compromise budget, which would be the working U.S. budget
for fiscal 1988, starting Oct. 1.
     Although the congressional budget proposes tax levels, the
actual approval of specific tax plans must be implemented
through legislationd rafted by the House Ways and Means
Committee and Senate Finance Committee which have been cool to
the idea of higher taxes.          
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5973" NEWID="17635">
<DATE> 1-JUN-1987 12:26:10.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f1662&#31;reute
r f BC-DAYTON-HUDSON-&lt;DH>-SE   06-01 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>DAYTON HUDSON &lt;DH> SELLS 9-7/8 PCT DEBENTURES</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Dayton Hudson Corp is raising 150 mln
dlrs through an offering of sinking fund debentures due 2017
with a 9-7/8 pct coupon and par pricing, said lead manager
Goldman, Sachs and Co.
    That is 129 basis points over the yield of comparable
Treasury securities.
    The issue is non-refundable for 10 years. A sinking fund
starting in 1998 can be increased by 200 pct at the company's
option, giving them an estimated minimum life of 13.85 years
and maximum life of 20.5 years. Moody's rates the debt Aa-3 and
Standard and Poor's rates it AA.
                                               
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5974" NEWID="17636">
<DATE> 1-JUN-1987 12:28:04.45</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>iran</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f1669&#31;reute
d f BC-FLOODS-AND-HEAVY-RAIN   06-01 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>FLOODS AND HEAVY RAIN HIT IRAN</TITLE>
<DATELINE>    LONDON, June 1 - </DATELINE><BODY>Fifty people were killed or injured in
flooding in southeastern Iran and three died after heavy rain
elsewhere, Tehran Radio reported today.
    The radio, monitored by the British Broadcasting Corp, said
flooding around Zahedan, near the Pakistan-Afghanistan border,
caused heavy damage.
    Rain in central Iran damaged houses, bridges, crops and
irrigation systems.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5975" NEWID="17637">
<DATE> 1-JUN-1987 12:29:47.87</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1674&#31;reute
u f BC-INT'L-MINERALS-&lt;IGL>   06-01 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>INT'L MINERALS &lt;IGL> BIOTECH PRODUCT GETS NOD</TITLE>
<DATELINE>    NORTHBROOK, ILL., June 1 - </DATELINE><BODY>International Minerals and
Chemical Corp said the U.S. Environmental Protection Agency
granted permission to its subsidiary, IMCERA Bioproducts Inc,
to make a genetically engineered microorganism for use as a
growth factor in laboratories.
    The action marks the first time such a biotechnological
product has undergone successful review by the EPA, it said.
    The EPA action clears the way for IMCERA to begin
commercial production of the microorganism, Escherichia Coli
K-12, in the production of its IGF-I growth factor for use in
laboratories in cultivating tissues and cells, it said.
    Escherichia Coli K-12 is a non-pathogenic organism commonly
used in laboratory operations for studies and commercial
fermentations, and does not affect humans, it said.
    International Minerals said it plans to manufacture the
microorganism at IMCERA's plant in Terre-Haute, Indiana and
market it to research institutions and pharmaceutical companies
in the U.S. and other countries.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5976" NEWID="17638">
<DATE> 1-JUN-1987 12:30:21.95</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1678&#31;reute
r f BC-NORTH-AMERICAN-&lt;NAHL.   06-01 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>NORTH AMERICAN &lt;NAHL.O> COMPLETES PLACEMENT</TITLE>
<DATELINE>    EAST HARTFORD, Conn., June 1 - </DATELINE><BODY>North American Holding Corp
said it completed a three mln dlr private placement of
restricted Class A non-voting common stock to two private
investors.
    The company said the stock was sold to real estate
developers Simon Konover of West Hartford, and Harry Gampel of
Boca Raton, Fla.
    The transaction is for 375,000 shares of Class A stock, or
approximately 2.75 pct of the total North American Holding
voting and non-voting common shares outstanding, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5977" NEWID="17639">
<DATE> 1-JUN-1987 12:39:52.16</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1717&#31;reute
b f BC-******LITTON-INDUSTRI   06-01 0010</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>LITTON INDUSTRIES UNIT GETS 223.2 MLN DLR NAVY CONTRACT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5978" NEWID="17640">
<DATE> 1-JUN-1987 12:51:27.18</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1748&#31;reute
u f BC-HBO   06-01 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>PARTNERSHIP UPS HBO &lt;HBOC.O> STAKE TO 8.7 PCT</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>Andover Group, a Great Falls, Va.,
investment partnership that is seeking control of HBO and Co,
said it raised its stake in the company to 2,026,000 shares, or
8.7 pct of the total, from 1,626,000 shares, or 7.0 pct.
    In a filing with the Securities and Exchange Commission,
the partnership said it bought 400,000 HBO common shares for
5.4 mln dlrs on May 28.
    The group, which has a slate of candidates seeking board
seats, said it would decide whether to submit an offer to
acquire the company after the HBO annual shareholders meeting,
which was to have been April 30, but was postponed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5979" NEWID="17641">
<DATE> 1-JUN-1987 12:54:00.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1753&#31;reute
d f BC-INFINITE-GRAPHICS-&lt;IN   06-01 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>INFINITE GRAPHICS &lt;INFG.O> TO POST PROFIT</TITLE>
<DATELINE>    CHICAGO, June 1 - </DATELINE><BODY>Infinite Graphics Inc expects to report
earnings for the fiscal year ended April 30 of about 360,000
dlrs, or 20 cts a share, Chairman Cliff Stritch Jr told Reuters
in an interview.
    In the prior fiscal year, the Minneapolis-based company
reported a loss of 812,000 dlrs or 46 cts a share.
    Stritch cited strength in the company's electrical printed
circuit board software and CAD/CAM (computer aided
design/computer aided manufacturing) business. He also said two
new products, using scanning and vectorization, are under
development.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5980" NEWID="17642">
<DATE> 1-JUN-1987 12:54:09.87</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1754&#31;reute
h f BC-N.A.-COMMUNICATIONS-&lt;   06-01 0035</UNKNOWN>
<TEXT>&#2;
<TITLE>N.A. COMMUNICATIONS &lt;NACS.O> LIMITS LIABILITY</TITLE>
<DATELINE>    HECTOR, Minn., June 1 - </DATELINE><BODY>North American Communications Inc
said its shareholders approved at the annual meeting an
amendment to limit the liability of its directors.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5981" NEWID="17643">
<DATE> 1-JUN-1987 12:55:20.32</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1756&#31;reute
u f BC-HUMANA-&lt;HUM>-TO-BUY-I   06-01 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>HUMANA &lt;HUM> TO BUY INT'L MEDICAL ASSETS</TITLE>
<DATELINE>    TALLAHASSEE, Fla., June 1 - </DATELINE><BODY>Humana Inc said a Florida Judge
approved a previously announced proposal for the company to buy
certain assets of International Medical Centers, which had been
declared insolvent and put into receivership in early May.
    Humana said it will pay 40 mln dlrs to the state's
Department of Insurance to pay prior claims and 20 mln dlrs in
working capital.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5982" NEWID="17644">
<DATE> 1-JUN-1987 12:56:10.36</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1758&#31;reute
r f BC-DIVERSIFIED-INDUSTRIE   06-01 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>DIVERSIFIED INDUSTRIES (DMC) TO SELL UNITS</TITLE>
<DATELINE>    ST. LOUIS, June 1 - </DATELINE><BODY>Diversified Industries Inc plans to
recover more than four mln dlrs from the sale of two marginal
subsidiaries, chairman Ben Fixman told the annual meeting.
    Fixman said Diversified Industries, as part of its effort
to redeploy assets, wants to sell its Theodore Sall Inc and
Liberty Smelting Works (1962) Ltd units. The two either lost
money or had marginal profitability in recent years, he said.
    Diversified also said it is in the process of obtaining six
mln dlrs in an industrial revenue bond financing from the State
of Connecticut to modernize the company's Plume and Atwood
Brass Mill plant in Thomaston, Conn.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5983" NEWID="17645">
<DATE> 1-JUN-1987 12:58:20.82</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1761&#31;reute
u f BC-LITTON-&lt;LIT>-GETS-223   06-01 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>LITTON &lt;LIT> GETS 223.2 MLN DLR NAVY CONTRACT</TITLE>
<DATELINE>    BEVERLY HILLS, Calif., June 1 - </DATELINE><BODY>Litton Industries Inc said
the Navy awarded a 223.2 mln dlr contract to its Data Systems
division to produce a certain comman and contraol systems for
the U.S. Marine Corps and the U.S. Air Force.
    Litton said the contract includes options for government's
1988 and 1989 fiscal years and for additional systems which
could bring the total contract through fiscal 1989 to 750 mln
dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5984" NEWID="17646">
<DATE> 1-JUN-1987 13:04:05.62</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1780&#31;reute
r f BC-WHITTAKER-&lt;WKR>-SEES   06-01 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>WHITTAKER &lt;WKR> SEES HIGHER 1987 PROFITS</TITLE>
<DATELINE>    LOS ANGELES, June 1 - </DATELINE><BODY>Whittaker Corp chairman and chief
executive officer Joseph Alibrandi said the company expects to
report operating profits in fiscal 1987 that exceed 1986
results of 41.5 mln dlrs.
    "We continue to expect fiscal 1987 operating profits for
the chemicals and technology segments to exceed the results
reported for 1986," Alibrandi said. Whittaker reported fiscal
1986 operating earnings for its chemical segment of 18.0 mln
dlrs, and for its technology segment of 23.4 mln dlrs.
    The company's fiscal year ends October 31.
    Earlier, Whittaker reported profits of 3.1 mln dlrs, or 37
cts a share, for the second quarter ended April 30, versus a
loss of 4.5 mln dlrs, or 35 cts a share in the same period last
year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5985" NEWID="17647">
<DATE> 1-JUN-1987 13:07:34.85</DATE>
<TOPICS></TOPICS>
<PLACES><D>kenya</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T M
&#22;&#22;&#1;f1795&#31;reute
r f BC-KENYAN-PRESIDENT-RESH   06-01 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>KENYAN PRESIDENT RESHUFFLES CABINET</TITLE>
<DATELINE>    NAIROBI, June 1 - </DATELINE><BODY>President Daniel arap Moi replaced his
ministers of foreign affairs and economic planning in a far
reaching cabinet reshuffle, the official Kenya News Agency
(KNA) said.
    Zachary Onyonka, former economic planning minister,
replaces as foreign minister Elijah Mwangale, who moves to
agriculture. Anrew Omanga, former minister of tourism and
wildlife, becomes minister of planning and national development
after Robert Ouko, who moves to the newly created ministry of
industry.
    Fourteen ministers retain their old jobs, including Finance
Minister George Saitoti and Energy Minister Nicolas Biwott.
 Reuter4
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5986" NEWID="17648">
<DATE> 1-JUN-1987 13:07:48.62</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1796&#31;reute
b f BC-HARCOURT-&lt;HBJ>-HAS-NO   06-01 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>HARCOURT &lt;HBJ> HAS NO COMMENT ON SUIT</TITLE>
<DATELINE>    New York, June 1 - </DATELINE><BODY>Harcourt Brace Jovanovich Inc said it
has no comment at this time on the lawsuit filed against it by
British publisher Robert Maxwell.
    In the suit, Maxwell's British Printing and Communication
Corp is attempting to stop Harcourt's payment of a 40 dlr per
share special dividend and other actions.
    Harcourt announced its recapitalization plan to escape a
hostile bid by Maxwell. Maxwell last week withdrew his 44 dlr
per share or two billion dlr bid because of the plan.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5987" NEWID="17649">
<DATE> 1-JUN-1987 13:08:15.43</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A RM
&#22;&#22;&#1;f1798&#31;reute
r f BC-AMERICAN-EXPRESS-&lt;AXP   06-01 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN EXPRESS &lt;AXP> UNIT IN FUNDING PROGRAM</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>American Express Co's Shearson Lehman
Brothers said it helped establish a national pooled capital
program offering low-cost financing to small and medium-sized
businesses.
    Shearson said that it and non-profit &lt;American Development
Finance Corp> will help organize the Enterprise Capital Fund,
which will initially have a 100 mln dlr pool.
    The capital will be used primarily to make loans that
finance small business growth and other projects that
contribute to job creation and economic develpment, Shearson
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5988" NEWID="17650">
<DATE> 1-JUN-1987 13:08:27.48</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1799&#31;reute
u f BC-GM-&lt;GM>-UAW-COUNCIL-O   06-01 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>GM &lt;GM> UAW COUNCIL OPENS SESSION</TITLE>
<DATELINE>    DETROIT, June 1 - </DATELINE><BODY>About 300 local representatives on the
United Automobile Workers union's General Motors Corp
bargaining council convened at a Detroit hotel this morning for
private strategy sessions in the run-up to this summer's
national contract bargaining covering 380,000 UAW members at
GM.
    AlThough the sessions were closed to the press, UAW
vice-president Donald Ephlin urged delegates in a bargaining
document obtained by Reuters to be "willing to use creative and
non-traditional means in achieving our bargaining goals."
    The document calls outsourcing of GM's production work to
foreign or non-GM operations "perhaps the greatest single
threat to the job security of our members" and urges bargainers
to seek an expansion of limits on the giant automaker's ability
to outsource.
    While saying that outsourcing pits "worker against worker"
and the UAW "will not tolerate this practice," the document
falls short of demanding an outright ban on the practice and
instead calls for improvements in "current provisions and
restrictions on outsourcing."
    The union said its barginers must seek bans against plant
and work place closings "similar to those included in our 1982
and 1984 contracts."
    In addition, the UAW said, "full resumption of our
traditional wage formula is a top priority in this set of
negotiations."
    While the document does not specify a percentage wage
increase, the UAW's traditional standard before making
concessions in 1982 was a three pct annual wage increase with
benefits calculated from the base wage rate.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5989" NEWID="17651">
<DATE> 1-JUN-1987 13:09:31.47</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1803&#31;reute
u f BC-PIEZO   06-01 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>INSURANCE FIRM AS PIEZO &lt;PEPI.O> PREFERRED STAKE</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>Corporate Life Insurance Co, a West
Chester, Pa., insurance firm, told the Securities and Exchange
Commission it has acquired 44,600 shares of preferred stock in
Piezo Electric Products Inc, or 10.8 pct of the total.
    Corporate insurance said it bought the cumulative
convertible preferred stock stake for 199,690 dlrs for
investment purposes.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5990" NEWID="17652">
<DATE> 1-JUN-1987 13:10:14.00</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1805&#31;reute
d f BC-CELLULAR-INC-&lt;CELS.O>   06-01 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>CELLULAR INC &lt;CELS.O> TO SELL UNIT, TAKE GAIN</TITLE>
<DATELINE>    DENVER, June 1 - </DATELINE><BODY>Cellular Inc said it reached a definitive
agreement to sell assets of its wholly owned Michigan Cellular
Inc to Century Telephone Enterprises Inc &lt;CTL> and add 28 cts a
share to the year's earnings as a result.
    It said the sale, subject to regulatory approval,
represents a capital gain in excess of 800,000 dlrs over the
original price paid by Cellular for its cellular interests in
Michigan, acquired in December 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5991" NEWID="17653">
<DATE> 1-JUN-1987 13:12:30.58</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f1814&#31;reute
b f BC-JUDGE-REDUCES-JURY-AW   06-01 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>JUDGE REDUCES JURY AWARD TO COASTAL &lt;CGP></TITLE>
<DATELINE>    CHEYENNE, Wyo., June 1 - </DATELINE><BODY>Coastal Corp said a federal
district court judge has upheld a trial jury's judgment against
a Occidental Petroleum Corp &lt;OXY> subsidiary but reduced the
amount awarded a Coastal subsidiary to 412 mln dlrs from 549
mln dlrs.
    The company said Judge Clarence A. Brimmer denied all
post-trial motions by Occidental's Natural Gas Pipeline Co of
America but did eliminate the trebling of a portion of the
damages for future lost profits and part of the damages for
interference with a contract awarded by the jury in the
antitrust case last October.
   
    An Occidental spokesman said the company has previously
said it will take the case to the federal appeals court which
has previously upheld the Federal Energy Regulatory Commission
regulations Natural Gas Pipeline was following in its dealings
with Coastal's Colorado Interstate pipeline subsidiary and
Union Pacific Corp &lt;UNP> Champlin Petroleum Co subsidiary.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5992" NEWID="17654">
<DATE> 1-JUN-1987 13:12:38.76</DATE>
<TOPICS><D>gold</D><D>silver</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>comex</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A RM
&#22;&#22;&#1;f1815&#31;reute
u f BC-LITTLE-REACTION-TO-CO   06-01 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>LITTLE REACTION TO COMEX PRICE LIMIT REMOVAL</TITLE>
<DATELINE>    New York, June 1 - </DATELINE><BODY>The elimination of price limits on
precious metals contracts trading at the Commodity Exchange in
New York appears to be having little effect on the market,
analysts said.
    "There is nothing apparent from the change," said William
O'Neill, director of futures research at Elders Futures Inc.
"The market has not approached the old price limits and trading
is relative quiet, in narrow ranges," he added.
    Gold futures, which previously had a limit of 25 dlrs on
market moves in most back months, were about 7.00 dlrs weaker
in the nearby contracts amid thin conditions, traders said.
    On May 5, COMEX did away with price limits on the two
contracts following spot after a volatile market in silver
futures at the end of April caused severe disruptions.
    During the last week of April, silver futures traded up and
down the price limit in the back months, causing traders to
rush into the spot contract to offset those moves, analysts
said.  As a result, Elders' O'Neill said, there was much
confusion, many unmatched trades, and large losses.
    The COMEX fined Elders Futures and three other large firms
a total of 100,000 dlrs for failure to resolve unmatched trades
in a timely manner.
    Silver futures were trading about 30-40 cts weaker in the
nearby contracts amid quiet trading today.
    O'Neill said the elimination of price limits on all COMEX
metals futures would add caution to trading since all contracts
could move any distance.
    "This is amore realistic approach because the metals market
is a 24 hours market and prices can move without limit,"
O'Neill said.
    Paul Cain, a vice president at Shearson Lehman Brothers,
said the elimination of price limits will cut back on panic
buying or selling  and contribute to more orderly markets.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5993" NEWID="17655">
<DATE> 1-JUN-1987 13:16:36.85</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1821&#31;reute
d f BC-COMPTEK-RESEARCH-INC   06-01 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>COMPTEK RESEARCH INC &lt;CMTK.O> 4TH QTR MARCH 31</TITLE>
<DATELINE>    BUFFALO, N.Y., June 1 -
    </DATELINE><BODY>Shr 17 cts vs four cts
    Net 373,000 vs 82,000
    Sales 10.1 mln vs 7,825,000
    Year
    Shr 45 cts vs 27 cts
    Net 981,000 vs 595,000
    Sales 34.5 mln vs 28.5 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5994" NEWID="17656">
<DATE> 1-JUN-1987 13:17:29.66</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f1824&#31;reute
r f BC-CINCINNATI-BELL-&lt;CSN>   06-01 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>CINCINNATI BELL &lt;CSN> TO SELL 10-YEAR NOTES</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Cincinnati Bell Inc said it will sell up
to 90 mln dlrs of 10-year notes to complete the financing of
its acquisition of Auxton Computer Enterprises Inc.
    It said it plans to issue the notes within the next few
months. Cincinnati Bell acquired Auxton on May six.
    Shearson Lehman Brothers Inc will lead the underwriting
group, the company said.
      
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5995" NEWID="17657">
<DATE> 1-JUN-1987 13:19:46.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1828&#31;reute
u f AM-U.S.-PROBES-RJR-&lt;RJR>   06-01 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. PROBES RJR &lt;RJR> TAINTED TOBACCO SHIPMENTS</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>Federal law enforcement authorities
said they began a criminal investigation of R.J. Reynolds
Tobacco Co after the company imported herbicide-tainted tobacco
and then exported tainted cigarettes to Japan.
    "We can confirm that the U.S. Customs Service has launched a
criminal investigation of Reynolds," a Customs spokesman told
Reuters.
    "There is an investigation under way," said Bob Edmunds, the
U.S. attorney in Greensboro, N.C.
    Reynolds is a subsidiary of RJR Nabisco Inc. of
Winston-Salem, N.C.
    The investigation is particularly embarrassing--for Tokyo
and Washington, as well as the company--because the Japanese
government, under pressure from the United States, agreed only
last year to open its markets to U.S.-made tobacco products.
    R.J. Reynolds spokesman David Fishel said in a telephone
interview that his company acknowledged importing into the
United States large amounts of tobacco treated with a
weedkiller called Dicamba, and then exporting cigarettes made
with the tobacco to Japan. He acknowledged the weed killer was
present in the tobacco at levels exceeding U.S. standards but
said use of the tobacco did not pose a threat to human health.
    "Dicamba is approved by the government for use on a variety
of crops including food crops, and is widely used as a ripening
agent on tobacco," Fishel said.
    Earlier today, Japanese Finance Ministry official Etsuzo
Kawade said in Tokyo that government authorities were holding a
large shipment of Winston Lights manufactured by R.J. Reynolds
after tests showed some of them contained unacceptable amounts
of the weedkiller.
    "We do not believe the herbicide posed a serious threat to
people's health but the levels were unacceptable by law," Kawade
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5996" NEWID="17658">
<DATE> 1-JUN-1987 13:20:47.21</DATE>
<TOPICS><D>nat-gas</D><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f1830&#31;reute
r f BC-GULF-OF-MEXICO-RIG-CO   06-01 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. GULF OF MEXICO RIG COUNT CLIMBS TO 38.9 PCT</TITLE>
<DATELINE>    HOUSTON, June 1 - </DATELINE><BODY>Utilization of offshore mobile rigs in
the Gulf of Mexico climbed by 2.1 pct last week to 38.9 pct,
reflecting a total of 91 working rigs, Offshore Data Services
said.
    One year ago, the Gulf of Mexico utilization rate was 32.5
pct. Offshore Data Services said some drilling contractors had
reported recent increases of about 1,000 dlrs a day on large
jackup rigs, which now command rates of 11,000 to 12,000 dlrs a
day.
    In the European/Mediterranean area the rig utilization rate
rose 0.6 pct to 53.6 pct, against 67.3 pct one year ago.
    Worldwide rig utilization rose by 1.2 pct to 57.7 pct,
reflecting a net increase of eight working rigs. Offshore Data
Services said a total of 419 rigs were in use worldwide and 307
were idled last week.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5997" NEWID="17659">
<DATE> 1-JUN-1987 13:24:07.90</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1845&#31;reute
h f BC-DOTRONIX-&lt;DOTX.O>-COM   06-01 0046</UNKNOWN>
<TEXT>&#2;
<TITLE>DOTRONIX &lt;DOTX.O> COMPLETES ACQUISITION</TITLE>
<DATELINE>    NEW BRIGHTON, MINN, June 1 - </DATELINE><BODY>Dotronix Inc said it completed
the acquisition of Video Monitors Inc for 3.92 mln dlrs.
    Video Monitors is a privately-owned Wisconsin-based
manufacturer of video display and and video monitor devices.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5998" NEWID="17660">
<DATE> 1-JUN-1987 13:25:07.36</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1848&#31;reute
d f BC-DATAFLEX-CORP-&lt;DFLX.O   06-01 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>DATAFLEX CORP &lt;DFLX.O> 4TH QTR MARCH 31 NET</TITLE>
<DATELINE>    EDISON, N.J., June 1 -
    </DATELINE><BODY>Shr 11 cts vs eight cts
    Net 248,000 vs 155,000
    Revs 4,385,000 vs 2,487,000
    Year
    Shr 36 cts vs 12 cts
    Net 720,000 vs 220,000
    Revs 15.2 mln vs 9,253,000
    NOTE: Share adjusted for 10 pct stock dividend in April
1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="5999" NEWID="17661">
<DATE> 1-JUN-1987 13:25:38.48</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F E
&#22;&#22;&#1;f1850&#31;reute
d f BC-POLYDEX-PHARMACEUTICA   06-01 0030</UNKNOWN>
<TEXT>&#2;
<TITLE>POLYDEX PHARMACEUTICALS LTD &lt;POLXF.O> 1ST QTR</TITLE>
<DATELINE>    TORONTO, June 1 - </DATELINE><BODY>April 30 end
    Shr loss one ct vs loss two cts
    Net loss 83,116 vs loss 266,037
    Sales 1,393,455 vs 1,035,500
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6000" NEWID="17662">
<DATE> 1-JUN-1987 13:25:49.21</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>france</D><D>pakistan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f1851&#31;reute
u f BC-ONIC-TENDERS-WEDNESDA   06-01 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>ONIC TENDERS WEDNESDAY FOR WHEAT FOR PAKISTAN</TITLE>
<DATELINE>    PARIS, June 1 - </DATELINE><BODY>The French Cereals Intervention Board
(ONIC) will tender Wednesday for 20,000 tonnes soft wheat for
Pakistan under the French food aid programme, an ONIC official
said.
    The grain will be shipped between June 15 and July 15.
    ONIC also will hold a tender June 9 for 65,000 tonnes soft
wheat under the European Community food aid programme, for
shipment in bulk during August, the official said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6001" NEWID="17663">
<DATE> 1-JUN-1987 13:26:11.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f1853&#31;reute
r f BC-MAY-&lt;MA>-SELLS-9-7/8   06-01 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>MAY &lt;MA> SELLS 9-7/8 PCT 30-YEAR DEBENTURES</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>May Department Stores Co is raising 100
mln dlrs through an offering of debentures due 2017 with a
9-7/8 pct coupon and par pricing, said lead manager Morgan
Stanley and Co Inc.
    That is 129 basis points more than the yield of comparable
Treasury securities.
    Non-refundable for 10 years, the issue is rated Aa-3 by
Moody's and Aa-minus by Standard and Poor's. The gross spread
is 8.75 dlrs, the selling concession is 5.50 dlrs and the
reallowance is 2.50 dlrs. E.F. Hutton co-managed the deal.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6002" NEWID="17664">
<DATE> 1-JUN-1987 13:27:15.85</DATE>
<TOPICS><D>coffee</D><D>cocoa</D></TOPICS>
<PLACES><D>togo</D><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f1858&#31;reute
r f BC-FRENCH-AID-TO-TOGO-TO   06-01 0046</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH AID TO TOGO TO HELP COFFEE, COCOA TREES</TITLE>
<DATELINE>    LOME, June 1 - </DATELINE><BODY>France is to provide Togo with 475 mln cfa
francs of aid for a range of projects that include development
of the coffee and cocoa industries and reafforestation in the
south of the country, official sources said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6003" NEWID="17665">
<DATE> 1-JUN-1987 13:28:33.14</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1864&#31;reute
f f BC-******middle-south-sa   06-01 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>MIDDLE SOUTH SAYS U.S. SUPREME COURT STAYS RULING DENYING MISSISSIPPI RATES
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6004" NEWID="17666">
<DATE> 1-JUN-1987 13:29:21.73</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1868&#31;reute
d f BC-(CLARK-COPY)-BUYS-NOR   06-01 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>(CLARK COPY) BUYS NORWEGIAN FIRM</TITLE>
<DATELINE>    ELK GROVE VILLAGE, Ill., June 1 - </DATELINE><BODY>Clark Copy International
Corp said it bought a Norwegian drafting machines company for
three mln U.S. dlrs.
    Clark Copy said its majority-owned Norwegian subsidiary,
Interactive Computer Aids Co of Norway, purchased Kongsberg
Drafting Systems, a division of Norwegian state-owned Kongsberg
Vappenfabrikk.
    Kongsberg Drafting's annual worldwide sales are about 15
mln dlrs, Clark Copy said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6005" NEWID="17667">
<DATE> 1-JUN-1987 13:31:13.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f1871&#31;reute
r f BC-CHI-CHI'S-&lt;CHIC>-DEBT   06-01 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>CHI-CHI'S &lt;CHIC> DEBT DOWNGRADED BY S/P</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Standard and Poor's Corp said it cut to
B from B-plus 50 mln dlrs of convertible subordinated
debentures of Chi-Chi's Inc.
    The company's senior debt rating is BB-minus.
    S and P said the action reflected poor performance from
Chi-Chi's chain of 200 Mexican food restaurants. The agency
also said that a planned repurchase of three mln common shares
will result in reduced equity of 23 mln dlrs and a rise in debt
leverage to 67 pct from about 60 pct in fiscal 1987.
    Chi-Chi's posted a 5.7 mln dlr loss for the nine months
ended January 31, S and P noted.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6006" NEWID="17668">
<DATE> 1-JUN-1987 13:33:48.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE><D>kohl</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f1888&#31;reute
u f AM-ARMS-KOHL 1STLD  06-01 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>KOHL COALITION ACCEPTS DOUBLE-ZERO</TITLE>
<DATELINE>    BONN, June 1 - </DATELINE><BODY>West Germany said it would accept a
superpower plan to ban medium and shorter-range nuclear
missiles in Europe provided Bonn was allowed to retain its own
shorter-range missiles.
    After six weeks of public wrangling over the so-called
"double-zero" offer, Chancellor Helmut Kohl's coalition finally
said it would agree to an East-West ban on shorter-range
nuclear missiles.
    But in a statement issued after top-level talks, the
government said Bonn wanted the 72 West German Pershing-1a
missiles excluded from an East-West accord -- a demand
diplomats said could produce a snag in the Geneva arms talks.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6007" NEWID="17669">
<DATE> 1-JUN-1987 13:34:02.62</DATE>
<TOPICS><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES><D>usa</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f1889&#31;reute
r f BC-HUGHES'-U.S.-RIG-COUN   06-01 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>BAKER HUGHES' &lt;BHI> U.S. RIG COUNT FALLS TO 758</TITLE>
<DATELINE>    HOUSTON, June 1 - </DATELINE><BODY>The U.S. drilling rig count fell by four
last week to a total of 758, against 723 working rigs at this
time last year, Baker Hughes Inc said.
    In Canada, the weekly rig count rose 19 to 100, compared to
46 working rigs last year.
    Among individual states, the steepest declines were in
Oklahoma and Louisiana which lost eight and seven,
respectively. Drilling increases were reported by Michigan, up
by five rigs, and Ohio and Pennsylvania which each rose by
three. Baker Hughes said the total of 758 working rigs in the
United States included 84 rigs working in offshore waters.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6008" NEWID="17670">
<DATE> 1-JUN-1987 13:37:47.16</DATE>
<TOPICS><D>trade</D><D>lumber</D></TOPICS>
<PLACES><D>usa</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f1897&#31;reute
d f BC-u.s.-trade-bill-very   06-01 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. TRADE BILL VERY DANGEROUS FOR CANADA, LOBBY</TITLE>
<DATELINE>    TORONTO, June 1 -  </DATELINE><BODY>A trade bill before the United States
House of Representatives "is a very dangerous bill for Canadian
industry," Canadian Forest Industry Council chairman Adam
Zimmerman told reporters.
    By changing the definition of subsidy under U.S.
countervailing duty law, House of Representatives Bill 3
removes protection for companies that take advantage of widely
used government programs, Zimmerman told a media briefing.
    "Clearly, any industry to which Canadian governments grant
rights to fish, mine, cut timber, or produce power could be
vulnerable to a finding of a subsidy under this language," he
said.
    The Canadian forest lobby's Zimmerman also said the House
of Representative Bill would adopt a new way of measuring
subsidies that would greatly increase the size of any
countervailing duties that might be imposed on Canadian
resource exports to the U.S.
    Under the bill, any difference between Canadian prices and
U.S. or world market prices would constitute a subsidy, he
said. Such a method would make Canadian resource industries
vulnerable to similar penalties like a 15 pct export tax
imposed last January on shipments of Canadian softwood lumber
to the U.S., Zimmerman added.
    Canadian negotiators agreed to levy the new tax if a U.S.
forest industry lobby would drop its request for a countervail
duty on imports of Canadian softwood lumber.
    "We represent the first victim of the move to price other
countries' natural resources according to the U.S. system,"
Zimmerman said.
    "If we're an example, than other resource industries had
better watch out," he added.
    Zimmerman said the Canadian Forest Industry Council plans
to discuss concerns about the U.S. trade bill with lobby groups
from other Canadian resource industries.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6009" NEWID="17671">
<DATE> 1-JUN-1987 13:37:51.94</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1898&#31;reute
d f BC-SOCIETY/SAVINGS-&lt;SOCS   06-01 0036</UNKNOWN>
<TEXT>&#2;
<TITLE>SOCIETY/SAVINGS &lt;SOCS.O> FORMS HOLDING COMPANY</TITLE>
<DATELINE>    HARTFORD, Conn., June 1 - </DATELINE><BODY>Society for Savings said it has
completed a merger into newly formed holding company Society
for Savings Bancorp Inc on a share-for-share basis.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6010" NEWID="17672">
<DATE> 1-JUN-1987 13:38:00.49</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1899&#31;reute
d f BC-GEODYNE-RESOURCES-INC   06-01 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>GEODYNE RESOURCES INC &lt;GEOD.O> 4TH QTR FEB 28</TITLE>
<DATELINE>    TULSA, Okla., June 1 -
    </DATELINE><BODY>Shr profit three cts vs profit 31 cts
    Net profit 330,;575 vs profit 1,4;73,100
    Revs 1,501,996 vs 2,602,568
    Avg shrs 10,964,786 vs 4,446,958
    Year
    Shr loss eight cts vs profit six cts
    Net loss 91,523 vs profit 746,289
    Revs 3,854,821 vs 5,231,598
    Avg shrs 6,091,334 vs 4,446,958
    NOTE: Share results after preferred dividend requirements
of 44,174 dlrs vs 99,901 dlrs in quarter and 377,111 dlrs vs
480,851 dlrs in year
    Company 40 pct owned by PainWebber Group Inc &lt;PWJ>
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6011" NEWID="17673">
<DATE> 1-JUN-1987 13:38:05.01</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1900&#31;reute
d f BC-LADD-FURNITURE-&lt;LADF.   06-01 0040</UNKNOWN>
<TEXT>&#2;
<TITLE>LADD FURNITURE &lt;LADF.O> COMPLETES ACQUISITION</TITLE>
<DATELINE>    HICKORY, N.C., June 1 - </DATELINE><BODY>LADD Furniture Inc said it has
completed the previously-announced acquisition of
privately-held Colony House Furniture Inc for an undisclosed
amount of cash and notes.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6012" NEWID="17674">
<DATE> 1-JUN-1987 13:38:53.68</DATE>
<TOPICS><D>iron-steel</D></TOPICS>
<PLACES><D>luxembourg</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f1903&#31;reute
r f BC-EC-MINISTERS-CONSIDER   06-01 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>EC MINISTERS CONSIDER CUTBACKS IN STEEL SUPPORT</TITLE>
<DATELINE>    LUXEMBOURG, June 1 - </DATELINE><BODY>A new steel quota system that would
strictly limit European Community (EC) support to the industry
could be forced on producers if they fail to find their own
solution quickly, officials said.
    EC industry ministers meeting here considered two key
proposals aimed at cutting back surplus capacity by 30 mln
tonnes by 1990.
    The first would limit the current quota system, which has
protected EC output for seven years, only to flat products and
heavy sections, thereby forcing other types of steel products
into free market competition.
    The second proposal would link continuation of a quota
system with progress toward plant closures, although less than
a month ago the EC steelmakers' lobby group Eurofer said they
had abandoned efforts to close plants voluntarily.
    The ministers stopped short of imposing their own solution
immediately, instead urging steel producers to try again to
reach agreement on voluntary cutbacks.
    The EC Commission has said it will come up with detailed
proposals in July on the future of the EC steel industry and EC
industry ministers meet again in September to reach a final
decision.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6013" NEWID="17675">
<DATE> 1-JUN-1987 13:39:18.74</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f1906&#31;reute
r f BC-PACIFIC-GAS-&lt;PCG>-TO   06-01 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>PACIFIC GAS &lt;PCG> TO BUY BACK BONDS</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Pacific Gas and Electric Co said it will
buy back on July one 93.9 mln dlrs of two mortgage bond issues,
Series 82A and 82B.
    The redemption will save the company about 2.8 mln dlrs in
annual financing costs for the remaining lives of the two
mortgage bond issues, Pacific Gas said.
    It will buy back the Series 82A bonds at 1,066.60 dlrs per
1,000 dlr principal amount, plus one month's accrued interest
of 12.81 dlrs. It will redeem the Series 82B at 1,105.20 dlrs
per 1,000 dlr face amount, plus one month's accrued interest of
11.14 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6014" NEWID="17676">
<DATE> 1-JUN-1987 13:39:27.01</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1907&#31;reute
d f BC-TEXAS-AIR'S-&lt;TEX>-CON   06-01 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>TEXAS AIR'S &lt;TEX> CONTINENTAL IN EXPANSION</TITLE>
<DATELINE>    CLEVELAND, June 1 - </DATELINE><BODY>Texas Air Corp's Continental Airlines
said it will begin creation of a Cleveland Hub July one,
doubling the number of cities it serves nonstop from Cleveland
and increasing daily flights by 50 pct.
    Continental said it will spend about 14 mln dlrs for
facilities expansion in Cleveland and will increase its local
employment from 48 to 100 people by July one.
    Continental will begin four daily nonstop flights to
Washington-National, two daily nonstops to Los Angeles, and one
daily nonstop each to San Francisco, Orlando and Tampa.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6015" NEWID="17677">
<DATE> 1-JUN-1987 13:39:38.05</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1908&#31;reute
d f BC-PHILIP-CROSBY-&lt;PCRO.O   06-01 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILIP CROSBY &lt;PCRO.O> MAKES ACQUISITION</TITLE>
<DATELINE>    WINTER HAVEN, Fla., June 1 - </DATELINE><BODY>Philip Crosby Associates Inc
said it has agreed to acquire Process Integrity Inc of Dallas,
a computer software designer, for undisclosed terms.
    It said Process' software helps companies monitor
industrial processes, identifies problems and recommends
solutions.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6016" NEWID="17678">
<DATE> 1-JUN-1987 13:39:53.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f1909&#31;reute
r f BC-INTl-AMERICAN-HOMES-&lt;   06-01 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>INTl AMERICAN HOMES &lt;HOME> TO SELL CONVERTIBLES</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>International American Homes Inc said it
filed on May 29 with the Securities and Exchange Commission a
registration statement covering a 25 mln dlr issue of
convertible subordinated debentures due 2007.
    Proceeds will be used to finance the proposed acquisition
of Diversified Shelter Group Ltd and affiliated entities and to
retire acquisition indebtedness, International American said.
    The company said Moseley Securities Corp would underwrite
the offering.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6017" NEWID="17679">
<DATE> 1-JUN-1987 13:39:59.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1910&#31;reute
d f BC-QMS-&lt;AQM>-GETS-ZIYAD   06-01 0055</UNKNOWN>
<TEXT>&#2;
<TITLE>QMS &lt;AQM> GETS ZIYAD &lt;ZIAD> PRODUCT RIGHTS</TITLE>
<DATELINE>    MOBILE, Ala., June 1 - </DATELINE><BODY>QMS Inc said its Laser Connection
subsidiary has been awarded exclusive rights to distribute the
entire line of Ziyad laser printer sheet feeders in the U.S.
and Canada.
    The company said it expects the arrangement to add 15 to 20
mln dlrs to its annual sales.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6018" NEWID="17680">
<DATE> 1-JUN-1987 13:44:01.43</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1921&#31;reute
u f BC-GENENTECH-&lt;GENE>-SETB   06-01 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>GENENTECH &lt;GENE> SETBACK VIEWED AS TEMPORARY</TITLE>
<AUTHOR>    By Samuel Fromartz, Reuters</AUTHOR>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Genentech Inc is suffering only a
temporary setback following a U.S. agency decision to withhold
a recommendation on its genetically-produced drug which is used
to treat heart attacks in progress, industry sources and
analysts said.
    "When TPA (the drug) first came on the scene, the projected
time scale for approval was 1990," said Sam Milstein, a
scientist and industry consultant.
    "So even with the new delay that has arisen, in all
likelihood the drug will be approved prior to initial
projections," he added.
    Last Friday, an advisory committee at the Food and Drug
Administration, FDA, withheld a recommendation on Genentech's
tissue plasminogen activator, a drug called Activase.
    Athough it supported Genentech's claim that the drug
dissolves blood clots, the FDA said it wanted data that showed
the treatment benefits heart-attack victims.
    "We will be talking to the FDA as soon as possible to ask
specifically what they are looking for," a Genentech
spokeswoman said. She said the company had data that showed
improvement in the heart muscle after the drug was administered
but had not included it in the FDA filing.
 
    Industry analysts also said the 12 point drop in the
company's stock to 37-1/4 was largely expected in light of the
speculative nature of the biotechnology companies whose
fortunes often depend on the success of an important drug.
    "In larger pharmaceutical companies each product does not
have as much overall significance. But this is very important
to Genentech," said Robert Riley, a senior consultant at Arthur
D. Little Inc.
    Some estimated that Genentech could see as much as 1.5
billion dlrs from the drug. But with each delay, others can
enter the market and catch up to Genentech's lead.

    Industry sources pointed out that KabiVitrum, in an
alliance with Hoechst AG &lt;HFAG.F>, won a recommendation for its
streptokinase drug on the same day Genentech's application was
delayed. Streptokinase, an enzyme-based drug, is also used to
treat heart attack victims.
    In addition, Milstein said that Beecham Group Plc &lt;BHAM.L>
has a drug called Eminase which is "the most likely competitor
to TPA," and from a clinical standpoint, nearly identical.
Beecham's drug has been approved for use in Germany and is
awaiting approval in the U.K., he added.
     Streptokinase was difficult to administer to heart attack
victims because it would dissolve before it reached the heart.
Another method, which involved pumping the drug directly into
the heart through a tube, proved difficult when a heart attack
was in progress. TPA was seen as a savior since it was easier
to administer and worked quickly.
    But new developments have made streptokinase more effective
and easier to administer, becoming a potential threat to
Genentech's grasp on the TPA market. And if that wasn't enough,
about 30 other biotech companies are quickly developing TPA in
Genentech's path.
 
    "Genentech's advantage is being first in the market," said
industry consultant Scott King, formerly an analyst with
Montgomery Securities in San Francisco. "They'll be the first
approved but then they'll face competition after one or two
years."
    The company may also face patent pressures for its drug. It
is currently about to go to court with Beecham Group in the
U.K. in a patent dispute. And while its patent is pending in
the U.S., many analysts expect the company to face some suits
as soon as the patent is issued, a potentially more harmful
situation than any temporary setback in the FDA.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6019" NEWID="17681">
<DATE> 1-JUN-1987 13:45:10.75</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f1924&#31;reute
r f BC-COURT-ACTION-SOUGHT-O   06-01 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>COURT ACTION SOUGHT ON SOUTHAM &lt;STM.TO> DEAL</TITLE>
<DATELINE>    TORONTO, June 1 - </DATELINE><BODY>Southam Inc said a Canadian government
official asked the Ontario Supreme Court to order Southam to
seek shareholder approval of a 1985 share swap between Southam
and fellow newspaper publisher Torstar Corp &lt;TSB.TO>.
    Frederick Sparling, an official in the Department of
Consumer and Corporate Affairs, wants the share exchange
nullified if shareholder approval is not obtained, Southam
added.
    Southam said it believed it had acted properly and would
vigorously defend itself in what would probably be a lengthy
process.
    Sparling's action came after a year-long investigation by
the federal corporations branch in response to minority
shareholders' complaints about the share exchange, which gave
Torstar a 22 pct stake in Southam.
    Southam said at the time of the Torstar deal that the share
swap was necessary to avert a hostile takeover bid for Southam
by a third party.
    The company declined further comment while the case is
before the courts.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6020" NEWID="17682">
<DATE> 1-JUN-1987 13:48:33.20</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1935&#31;reute
r f BC-PEERLESS-MANUFACTURIN   06-01 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>PEERLESS MANUFACTURING &lt;PMFG.O> SELLS UNIT</TITLE>
<DATELINE>    DALLAS, June 1 - </DATELINE><BODY>Peerless Manufacturing Co said it has sold
its Industrial Sensors and Instruments Division and Panhandle
Equipment Co subsidiaries for a total of 635,000 dlrs in cash.
    It said the transaction will result in a loss of about
605,000 dlrs or 50 cts per share, which it will take in the
fourth quarter ending June 30. Peerless said due to the sale it
will probably have a loss for the year.
    It said it sold the units, to buyers it did not name, due
to increasing losses caused by the depressed petroleum
equipment market.
                               
    Peerless earned 576,000 dlrs or 63 cts per share in fiscal
1986.
    It said the units being sold lost 28 cts per share in the
first nine months of fiscal 1987 and 12 cts in all of fiscal
1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6021" NEWID="17683">
<DATE> 1-JUN-1987 13:54:15.65</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1951&#31;reute
f f BC-******HICKS-AND-HAAS   06-01 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>HICKS AND HAAS GROUP GETS FINANCING FOR SPECTRADYNE ACQUISITION
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6022" NEWID="17684">
<DATE> 1-JUN-1987 13:56:13.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1955&#31;reute
u f BC-MIDDLE-SOUTH-&lt;MSU>-GR   06-01 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>MIDDLE SOUTH &lt;MSU> GRANTED MISSISSIPPI STAY</TITLE>
<DATELINE>    NEW ORLEANS, June 1 - </DATELINE><BODY>Middle South Utilities Inc said the
U.S. Supreme Court granted the company's Mississippi Power and
Light Co's request for stay of a Mississippi Supreme Court
ruling blocking a portion of the utility's retail rates.
    In February, the state court had returned to state
regulators a case involving the recovery of Grand Gulf one
nuclear power plant costs at the rate of 28 mln dlrs per month.
These rates, some of which were deferred for future phase-in,
were granted by the state regulators in September 1985 based on
Federal Energy Regulatory Commission allocation of the power
plant's cost among Middle South's subsidiaries.
    Middle South said one condition of the stay is the posting
of a bond that is suitable to the Mississippi Supreme Court.   
 Middle South said the Supreme Court stay brings stability to
Mississippi Power and Light's situation and "removes the
possibility of MP and L's imminent insolvancy while the case is
proceeding on the merits."
    The company said it expects its subsidiary's case to
prevail on the merits, resolving for all Middle South System
companies "issues concerning the prudence and retail rate
recovery of costs associated with the Grand Gulf One nuclear
unit."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6023" NEWID="17685">
<DATE> 1-JUN-1987 13:56:59.91</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1957&#31;reute
h f BC-UNITED-TOTE-INC-&lt;TOTE   06-01 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>UNITED TOTE INC &lt;TOTE.O> 2ND QTR APRIL 30</TITLE>
<DATELINE>    SHEPHERD, Mont., June 1 -
    </DATELINE><BODY>Shr profit four cts vs profit three cts
    Net profit 64,197 vs profit 56,437
    Revs 4.9 mln vs 1.6 mln
    Six months
    Shr profit four vs loss seven cts
    Net profit 67,133 vs loss 114,427
    Revs 9.1 mln vs 2.8 mln
    NOTE:1987 first half includes revnues of new racetrack
operation.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6024" NEWID="17686">
<DATE> 1-JUN-1987 13:57:16.33</DATE>
<TOPICS><D>lumber</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f1959&#31;reute
r f BC-canada-lumber-exports   06-01 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA LUMBER EXPORTS MAY BECOME UNPROFITABLE</TITLE>
<DATELINE>    TORONTO, June 1 - </DATELINE><BODY>Canada's softwood lumber will become
unprofitable for some forest product producers if prices
decline to about 175 U.S. dlrs per thousand board feet of two
by four inch lumber from current levels of about 195 U.S. dlrs,
Canadian Forest Industry Council chairman Adam Zimmerman told
reporters.
    Zimmerman reiterated profitability has been hurt by a move
by Canadian negotiators to impose last January a 15 pct export
tax on softwood lumber shipped to the U.S. in exchange for a
U.S. lumbermen's lobby dropping its request for a countervail
duty.
    "I think that there has been a falling off in the market, so
I think there is a moderate slow down in the price now,"
Zimmerman said at a media briefing.
    Zimmerman said the adverse impact from lower U.S. lumber
product prices would be felt by lumber mills in eastern Canada
first, migrating westward.
    "The country has swallowed a time bomb and it will go off
when times get tough," Zimmerman said.
    He also said the federal government should maintain the
existing 15 pct export tax and not allow provinces to offset
the tax with increased provincial fees for cutting lumber.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6025" NEWID="17687">
<DATE> 1-JUN-1987 13:57:30.03</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1961&#31;reute
d f BC-&lt;SEMICON-TOOLS-INC>-M   06-01 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;SEMICON TOOLS INC> MAKING ACQUISITION</TITLE>
<DATELINE>    NEW ROCHELLE, N.Y., June 1 - </DATELINE><BODY>Semicon Tools Inc said it has
signed a letter of intent to acquire a majority interest in
privately held East Coast Sales, a distributor and fabricator
of technical ceramic products and disposable clean room
materials and supplies.
    Terms were not disclosed.
    It said it expects to acquisition to result in a
substantial sales increase.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6026" NEWID="17688">
<DATE> 1-JUN-1987 13:57:48.33</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F E
&#22;&#22;&#1;f1963&#31;reute
r f BC-SAFETY-KLEEN-&lt;SK>-COM   06-01 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>SAFETY-KLEEN &lt;SK> COMPLETES ACQUISITION</TITLE>
<DATELINE>    ELGIN, ILL., June 1 - </DATELINE><BODY>Safety-Kleen Corp said it completed
the acquisition of an 80 pct interest in BresLube Enterprises,
for about 12 mln dlrs in stock and cash.
     BresLube, based in Toronto, collects used lubricating oils
from auto garages, car dealers and other businesses, and
re-refines it for resale. Its annual revenues are about 18 mln
dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6027" NEWID="17689">
<DATE> 1-JUN-1987 13:57:53.31</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1964&#31;reute
d f BC-GENCORP-&lt;GY>-STARTS-B   06-01 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>GENCORP &lt;GY> STARTS BUILDING NEW PLANT</TITLE>
<DATELINE>    AKRON, Ohio, June 1 - </DATELINE><BODY>GenCorp said it has started
construction on a new 50 mln dlr 260,000 square foot plant for
the reinforced plastics division of its DiversiTech General
unit.
    It said completion is expected in mid-1988.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6028" NEWID="17690">
<DATE> 1-JUN-1987 13:58:24.31</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1965&#31;reute
u f BC-NMS-&lt;NMSI>-TO-DEVELOP   06-01 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>NMS &lt;NMSI> TO DEVELOP HOME AIDS TEST KIT</TITLE>
<DATELINE>    NEWPORT BEACH, Calif., June 1 - </DATELINE><BODY>NMS Pharmaceuticals Inc
said it has begun developing a home test kit for detecting an
antibody to the AIDS virus.
    The company said its Animial Biotech Corp subdiary, which
will develop the test, recently completed development of a
simlar technology for a home test kit for feline leukemia virus
in cats that exhibits similar properties to the AIDS virus,
HIV, or human immunodeficiency virus.
   
    NMS is the first firm to annouce the development of a home
test kit for AIDS. The company said it should have a working
model ready in the first quarter of 1988.
    Abbott Laboratories &lt;ABT>, based in Chicago, is the
worldwide leader in the 60 mln dlrs AIDS test market with about
a 50 pct share. Abbott also recently applied to the Food and
Drug Administration to market a new test that will be ablet to
detect early infection with the AIDS virus and help monitor the
progress of therapy.
   
    NMS said its home AIDS test would use proprietary
technologies and advanced genetic engineering techniques for
the home test kitS. NMS said the test would use a drop of blood
from a finger prick to detect the AIDS virus.
    The company stressed that there is no assurance it will
succeed in develop ths test, nor in obtaining government
approval for marketing such as test.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6029" NEWID="17691">
<DATE> 1-JUN-1987 13:59:23.07</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1966&#31;reute
d f BC-FORD-&lt;F>-IN-VENTURE-T   06-01 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>FORD &lt;F> IN VENTURE TO MAKE UNITS FOR MAZDA</TITLE>
<DATELINE>    DEARBORN, Mich., June 1 - </DATELINE><BODY>Ford Motor Co said it agreed with
Mazda Motor Corp &lt;MAZT> and Matsushita Electric Industrial Co
Ltd &lt;MC> to form a company that would make heating and cooling
units in Japan for Mazda cars.
    Equity in the new company will be shared equally, Ford
said. Each of the three participants will be represented on the
board of directors of the new company.
    Ford said a manufacturing plant will be located in
Higashi-Hiroshima City near Mazda's headquarters. Completion of
the factory, and production start-up, is scheduled for the fall
of 1988.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6030" NEWID="17692">
<DATE> 1-JUN-1987 14:00:01.77</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1967&#31;reute
r f BC-ZENITH-&lt;ZEN>-IN-VOLUN   06-01 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>ZENITH &lt;ZEN> IN VOLUNTARY RECALL</TITLE>
<DATELINE>    RAMSEY, N.J., June 1 - </DATELINE><BODY>Zenith Laboratoreis Inc said it was
voluntarily recalling 20 lots of Digoxin, a cardiovascular
drug, because about seven of the lots made betweeen October
1984 and Janauary 1986 failed to meet certain requirements.
    The lot number of Digoxin, in 0.25 mg tablets, are 112
through 131. Zenith said the recalled lots were not likely to
cause serious ill health effects, but said the recall is being
done because some of the lots failed to meet dissolutation
requirements upon retesting.
    Zenith said the other lots are not subject to the recall.
It said the recall will cost about 50,000 dlrs.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6031" NEWID="17693">
<DATE> 1-JUN-1987 14:00:56.90</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1968&#31;reute
r f BC-GE-&lt;GE>,-ALSTHOM-&lt;ALS   06-01 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>GE &lt;GE>, ALSTHOM &lt;ALSF.PA> DEVELOPING TURBINE</TITLE>
<DATELINE>    ANAHEIM, Calif., June 1- </DATELINE><BODY>General Electric Co said it and
Alsthom of France are developing a 200 megawatt gas turbine
that will be the most powerful combustion turbine in the world,
the MS9001F.
    The company said when used in a combined cycle application,
the power plant efficiency will exceed 50 pct.
    The company said it will offer the turbine exclusively for
50 hertz electrical system markets.  Most of the world, except
the U.S. and several other countries, use the 50 hertz system,
it said.  It said Alsthom, its licensee in France, is
codeveloper and comanufacturer of the first unit.
    GE said the first of the turbines will be installed for
Electricite de France's grid.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6032" NEWID="17694">
<DATE> 1-JUN-1987 14:01:31.21</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1972&#31;reute
u f BC-HICKS/HAAS-GROUP-HAS   06-01 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>HICKS/HAAS GROUP HAS SPECTRADYNE &lt;SPDY.O> FUNDS</TITLE>
<DATELINE>    DALLAS, June 1 - </DATELINE><BODY>SPI Holding Inc, a group consisting of
Hicks and Haas and Acadia Partners LP, said it has received
commitments for the senior bank financing needed to complete
its proposed acquisition of Spectradyne Inc for 46 dlrs a share
in cash or securities, or a total of about 452 mln dlrs.
    The transaction was conditioned on the arrangement fo
financing by today.
    It said it has also executed multi-year employment and
non-competition agreements with five Spectrayne senior managers.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6033" NEWID="17695">
<DATE> 1-JUN-1987 14:02:24.52</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1976&#31;reute
r f BC-ROONEY-QUITS-AS-SERVI   06-01 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>ROONEY QUITS AS SERVICE RESOURCES &lt;SRC>UNIT HEAD</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Service Resources Corp said Patrick J.
Rooney has resigned as chairman and chief executive officer of
its Chas. P. Young subsidiary to devote more time to his posts
as chairman and chief executive of the parent company.
    Young has recently offered to acquire Sorg Inc &lt;SRG> for 23
dlrs a share and take the combined company public.
    The company said James P. Alexis, president of Young's
Chicago operation, will succeed Rooney as chairman and chief
executive of Young, with Jack R. Hubbs remaining president and
chief operating officer.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6034" NEWID="17696">
<DATE> 1-JUN-1987 14:03:09.09</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1981&#31;reute
r f BC-FORD-TO-INVEST-23-MLN   06-01 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>FORD TO INVEST 23 MLN STG IN U.K. ENGINE PLANT</TITLE>
<DATELINE>    LONDON, June 1 - </DATELINE><BODY>Ford Motor Co &lt;F> is to invest 23 mln stg
in high technology equipment at its Bridgend engine plant in
South Wales, the Press Association said.
    The move includes a new computerised engine test facility
which the company says will make the factory one of the most
efficient of its kind in the world.
    Bridgend currently supplies Escort, Orion and some Fiesta
engines to Ford plants in Britain, West Germany and Spain.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6035" NEWID="17697">
<DATE> 1-JUN-1987 14:03:43.45</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1983&#31;reute
r f BC-U.S.-HEALTHCARE-&lt;USHC   06-01 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. HEALTHCARE &lt;USHC.O> IN BLUE CROSS VENTURE</TITLE>
<DATELINE>    BLUE BELL, Pa., June 1 - </DATELINE><BODY>U.S. Healthcare Inc said it has
signed an agreement with Blue Cross and Blue Shield of Missouri
to jointly develop and operate a new health maintenance
organization for the St. Louis area.
    The company said Blue Cross will wholly own HMO Missouri,
which U.S. Healthcare will manage and market. It said it hopes
to start offering the HMO by January.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6036" NEWID="17698">
<DATE> 1-JUN-1987 14:03:46.65</DATE>
<TOPICS><D>alum</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1984&#31;reute
b f BC-******ALCO-RAISING-PR   06-01 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>ALCOA RAISING PRICES OF ALUMINUM BEVERAGE CAN STOCK EIGHT PCT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6037" NEWID="17699">
<DATE> 1-JUN-1987 14:04:15.25</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1988&#31;reute
d f BC-INVESTITECH-&lt;ITLD.O>   06-01 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>INVESTITECH &lt;ITLD.O> GETS MORTGAGE LOAN</TITLE>
<DATELINE>    FORT LAUDERDALE, Fla., June 1 - </DATELINE><BODY>Investitech Ltd said it has
closed on a 500,000 dlr long-term mortgage loan in connection
with its previous purchase of a Mulberry, Fla., plant,
replacing a short-term borrowing.
    The company said full production at the plant will start
immediately.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6038" NEWID="17700">
<DATE> 1-JUN-1987 14:06:52.55</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f1993&#31;reute
u f BC-COMPUTER-ASSOC.-&lt;CA>   06-01 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>COMPUTER ASSOC. &lt;CA> BOLSTERS HAND AGAINST IBM</TITLE>
<AUTHOR>    BY LAWRENCE EDELMAN, Reuters</AUTHOR>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Computer Associates International Inc's
800 mln dlr merger with Uccel Corp &lt;UCE> will eliminate its
strongest rival, but the company still faces stiff competition
from International Business Machines Corp &lt;IBM>, Wall Street
analysts said.
     "IBM is still the ruling force in mainframe systems
software," said Scott Smith, an analyst with Donaldson Lufkin
and Jenrette.
    "But the combination of the two companies will clearly
present a much stronger front," he said.
    Besides IBM, "Computer Associates will be far and away the
most powerful company in the field," added E.F. Hutton analyst
Terence Quinn.
    That field is a segment of the market known as system
utilities, or software packages that boost the productivity of
a company's data processing facilities by increasing the speed,
power and efficiency of large mainframe computers.
    The merger of Uccel and Computer Associates combines the
two biggest systems utilities suppliers other than IBM.
Analysts said the remaining players are mostly small firms that
will find the competition much harder than in the past.
    For Computer Associates, the merger with Uccel caps a
six-year acquisition campaign that has vaulted the Garden City,
N.Y.-based company to the top of the software industry.
    When the deal is completed sometime in August, the
company's revenues will exceed 450 mln dlrs, pushing it past 
Microsoft Corp &lt;MFST> as the world's largest independent
software vendor.
    Computer Associates founder and chairman Charles B. Wang
took the company public in 1981, and since then he has bought
15 companies and boosted annual sales from 18.5 mln to 309.3
mln dlrs for the year ended March 31.
    Liemandt took charge of Wyly, sold off its non-computer
businesses and decided that it would focus solely on mainframe
computer software. In 1984, the company was renamed Uccel Corp.
    Liemandt, who said he will leave the company after the
merger is completed, also turned to acquisitions for growth.
    On the last day of 1986, Uccel completed the buyouts of six
companies for a total of about 60 mln dlrs.
    For 1986, it earned 17.0 mln dlrs, or 1.01 dlrs a share, on
sales of 141.5 mln dlrs.
    The agreement took industry analysts by surprise, largely
because the companies had been such bitter rivals. Also,
Dallas-based Uccel had engineered a strong comeback from the
dark days of 1982, when, as Wyly Corp, it lost 7.7 mln dlrs, or
56 cts a share.
   At that time, Wyly owned a potpourri of 13 different
businesses, only three of which were involved in computer
software. In 1983, Walter Haefner, a Swiss financier and a
major Wyly investor, lured Gregory J. Liemandt away from his
job as chairman of General Electric Co's &lt;GE> computer services
unit.
    Computer Associates' Wang and Uccel's Liemandt said at a
news conference that the merger would give computer users a
single source for a wide range of software products.
    In addition to system utilities, Computer Associates also
sell products for microcomputers, while Uccel has made inroads
in the applications software market, where analysts said it has
been successful with accounting and banking systems.
    Wang said Computer Associates would continue to support and
enhance both companies' product lines, but noted that the
company will eventually weed out duplicate offerings. He said
about 20 pct of the companies' products overlap.
    Analysts said the merger would dilute the holdings of
current Computer Associates shareholders by about 10 pct. But
they joined Wang in forecasting that the deal will not dilute
Computer Associates' earnings for the current fiscal year.
    Quinn of E.F. Hutton said Wang has a proven track record of
completing acquisitions without earnings dilution. Therefore,
he said he would not change his 1988 earnings estimate of 1.05
dlrs a share.
    Wang said he would look closely at the combined operations
of the two companies and cut duplication in sales, marketing
and research and development.
    Analysts said Computer Associates paid a premium for Uccel.
Based on Friday's closing price, the company will swap 47.50
dlrs worth of its stock for each Uccel share, which is nearly
33 times Uccel's 1987 estimated earnings of 1.45 dlrs a share.
    Stephen T. McClellan of Merrill Lynch Research said most
software companies are currently valued at about 20 times
per-share earnings. But the analyst said Uccel was worth the
premium because of its earnings potential and customer base.

    Wang said Haefner, the Swiss investor, would hold about 25
pct of Computer Associates stock after the merger. He currently
owns 58 pct of Uccel.
    The executive said the merger would not alter his target of
maintaining sales and earnings growth of 30 pct to 35 pct.
    In addition, he said he expects no problems in having the
deal cleared by the antitrust division of the U.S. Justice
Department.
    Uccel's Liemandt declined to say what he will do after the
merger, but he did not rule out working together with Wang.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6039" NEWID="17701">
<DATE> 1-JUN-1987 14:14:19.18</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>uk</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2013&#31;reute
b f BC-MAXWELL-WOULD-NOT-REN   06-01 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>MAXWELL WOULD NOT RENEW BID IF SUIT FAILS</TITLE>
<DATELINE>    London, June 1 - </DATELINE><BODY>British press magnate Robert Maxwell said
his British Printing and Communication Corp Plc would not renew
its bid for Harcourt Brace Jovanovich Inc &lt;HBJ> if the lawsuit
filed against Harcourt in New York today fails.
    Speaking at a press conference, Maxwell denied market
rumors that British Printing had approached British
institutions to arrange a rights issue with a view to
relaunching its bid for the U.S. publishing concern.
    "I don't believe in chasing mirages," maxwell said.
    British Printing filed suit in U.S. District Court in
Manhattan to block what Maxwell called a fraudulent
recapitalization announced by Harcourt last week.
    Harcourt, in response to a hostile two billion dlr takeover
proposal from Maxwell, planned a recapitalization that would
pay shareholders 40 dlrs per share. Under the plan, it also
said 40 pct of its shares will be controlled by its employees,
management, and its financial adviser, First Boston Corp &lt;FBC>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6040" NEWID="17702">
<DATE> 1-JUN-1987 14:14:55.58</DATE>
<TOPICS><D>alum</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f2018&#31;reute
b f BC-******ALCO-RAISING-PR   06-01 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>ALCOA RAISING PRICES OF ALUMINUM BEVERAGE CAN STOCK EIGHT PCT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6041" NEWID="17703">
<DATE> 1-JUN-1987 14:17:04.97</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2027&#31;reute
u f BC-&lt;GRAND-UNION-CO>-4TH   06-01 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;GRAND UNION CO> 4TH QTR MARCH 28 NET</TITLE>
<DATELINE>    ELMWOOD PARK, N.J., June 1 -
    </DATELINE><BODY>Net 7,237,000 vs 5,938,000
    Sales 630.8 mln vs 601.8 mln
    Year
    Net 34.1 mln vs 20.5 mln
    Sales 2.75 billion vs 2.61 billion
    NOTE: Twelve and 52-week periods.
    Generale Occidentale SA subsidiary.
    Prior year net both periods includes 7,580,000 dlr pretax
charge for store closings.
    Year net includes pension gain 3,455,000 dlrs vs charge
5,502,000 dlrs due to change in pension accounting.
    Income tax rate for year 45.9 pct vs 34.1 pct due to
abolition of investment tax credits.  Elimination of investment
tax credits approximately offset gain from change in pension
accounting, company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6042" NEWID="17704">
<DATE> 1-JUN-1987 14:22:28.05</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2046&#31;reute
r f BC-BELL-CANADA-&lt;BCE>-EXT   06-01 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>BELL CANADA &lt;BCE> EXTENDS STOCK BUYBACK</TITLE>
<DATELINE>    MONTREAL, June 1 - </DATELINE><BODY>Bell Canada Enterprises Inc said it
extended to June 30 from June 4 a short-term voluntary sale
program for shareholders owning 10 or fewer Bell Canada common
shares.
    The plan allows such shareholders of record at April 21 to
sell their shares at market price without incurring brokerage
commissions or other charges.
    Bell Canada was quoted at 42 dlrs, up 1/4, in afternoon
trading on the Toronto Stock Exchange.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6043" NEWID="17705">
<DATE> 1-JUN-1987 14:22:43.92</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2048&#31;reute
d f BC-SYNERCOM-&lt;SYNR.O>-NAM   06-01 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>SYNERCOM &lt;SYNR.O> NAMES NEW PRESIDENT</TITLE>
<DATELINE>    HOUSTON, June 1 - </DATELINE><BODY>Synercom Technology Inc said it has named
Robert Forsyth president.
    The company said Forsyth is taking over the position from
Thomas Moore, who remains chairman and chief executive officer.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6044" NEWID="17706">
<DATE> 1-JUN-1987 14:23:43.75</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2049&#31;reute
r f BC-U.S.-VIDEO-&lt;VVCO.O>,   06-01 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. VIDEO &lt;VVCO.O>, FIRST NATIONAL IN MERGER</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>U.S. Video Vending Corp said it
completed acquiring First National Telecommunications INc from
First National Entertainment Corp for about 10 mln, or a
controlling interest of U.S. Video Vending shares.
    Pursuant to the transaction, Harvey Seslowsky and William
Hodes resigned from U.S. Video's board and were replaced by
four members of First National.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6045" NEWID="17707">
<DATE> 1-JUN-1987 14:24:37.28</DATE>
<TOPICS><D>cocoa</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>icco</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f2051&#31;reute
u f BC-SOME-COCOA-ORIGINS-DI   06-01 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>COCOA ORIGINS DISMAYED BY BUFFER STOCK ACTION</TITLE>
<AUTHOR>    By Peter Read, Reuters</AUTHOR>
<DATELINE>    LONDON, June 1 - </DATELINE><BODY>Traders recently returned from West Africa
say some producers there are dismayed by the ineffective action
so far by the International Cocoa Organization (ICCO) buffer
stock manager on buffer stock purchases.
    One trader said some West African producers are annoyed the
Buffer Stock manager is not playing his part as required by the
International Cocoa Pact to stabilise prices from current lows.
    So far, only 21,000 tonnes of second hand cocoa have been
taken up for buffer stock purposes and this, traders noted,
only on an intermittent basis.
    They noted the purchases, of 8,000 tonnes in the first week
he bought and 13,000 in the second, are well short of the
limitations of no more than 5,000 tonnes in one day and 20,000
in one week which the cocoa agreement places on him.
    The traders recently returned from West Africa say
producers there are unhappy about the impact on cocoa prices so
far, noting producing countries are part of the international
cocoa pact and deserve the same treatment as consumers.
    London traders say terminal market prices would have to
gain around 300 stg a tonne to take the ICCO 10-day average
indicator to its 1,935 sdr per tonne midway point (or reference
price).
    However, little progress has been made in that direction,
and the 10-day average is still well below the 1,600 sdr lower
intervention level at 1,562.87 from 1,569.46 previously.
    The buffer stock manager may announce today he will be
making purchases tomorrow, although under the rules of the
agreement such action is not automatic, traders said.
    Complaints about the inaction of the buffer stock manager
are not confined to West African producers, they observed.
    A Reuter report from Rotterdam quoted industry sources
there saying Dutch cocoa processors also are unhappy with the
intermittent buffer stock buying activities.
    In London, traders expressed surprise that no more than
21,000 tonnes cocoa has been bought so far against total
potential purchases under the new agreement of 150,000 tonnes.
Carryover holdings from the previous International Cocoa
Agreement in the stock total 100,000 tonnes.
    Terminal prices today rose by up to 10 stg a tonne from
Friday's close, basis July at its high of 1,271.
    It seems that when the buffer stock manager is absent from
the market, prices go up, while when he declares his intention
to buy, quite often the reverse applies, traders said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6046" NEWID="17708">
<DATE> 1-JUN-1987 14:25:22.01</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F A
&#22;&#22;&#1;f2054&#31;reute
r f BC-CANADA-CORPORATE-DEBT   06-01 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA CORPORATE DEBT LOWEST IN FIVE YEARS</TITLE>
<DATELINE>    TORONTO, June 1 - </DATELINE><BODY>Canada's corporate debt burden is at its
lowest point in five years but still exceeds pre-1981 recession
levels, said a study by Canadian Imperial Bank of Commerce
&lt;CM.TO>.
    The bank said the debt-equity ratio for all Canadian
companies, excluding financial corporations, now averages 1.50,
down from 1.70 in 1982, but higher than 1.47 in 1980.
    "Five years of uninterrupted economic growth in Canada and
the strength of the Canadian bond and stock markets, despite
recent corrections, have led to a marked improvement in the
financial health of most Canadian corporations," the bank said.
   
    The bank said that manufacturing, construction,
transportation, utility and service industries had improved
their debt-equity ratios to 1977 levels. Mining, oil and gas
companies were not performing as well due to low commodity
prices, the bank added.
    Canadian corporate financial ratios are also stronger than
those in the U.S., the bank said. It said the 1981-82 recession
led some Canadian companies to downsize and use resulting
savings to cut floating rate debt, and others to shift to
equity from debt financing.
                                               
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6047" NEWID="17709">
<DATE> 1-JUN-1987 14:26:07.09</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2060&#31;reute
d f BC-AMERICAN-TRAVELLERS-&lt;   06-01 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN TRAVELLERS &lt;ATVC.O> REPORTS PRODUCTION</TITLE>
<DATELINE>    WARRINGTON, Pa, June 1 - </DATELINE><BODY>American Travellers Corp's
American Travellers Life Insurance Co unit said it wrote more
than 1.1 mln dlrs of new business in May
    Last year, the unit wrote 553,350 dlrs of new business for
the month of May.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6048" NEWID="17710">
<DATE> 1-JUN-1987 14:28:10.91</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2067&#31;reute
r f BC-RAPID-AMERICAN-COMPLE   06-01 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>RAPID-AMERICAN COMPLETES K MART &lt;KM> STORE BUY</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Privately-held Rapid-American Corp said
it has completed the previously-announced acquisition of 66
Kresge and Jupiter stores from K Mart Corp.
    The company said it plans to operate 57 of the stores as
McCrory Five and 10 variety stores and close the others by the
end of July.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6049" NEWID="17711">
<DATE> 1-JUN-1987 14:28:26.71</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2068&#31;reute
u f BC-ZENITH-ELECTRONICS-&lt;Z   06-01 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>ZENITH ELECTRONICS &lt;ZE> INTRODUCES COMPUTER</TITLE>
<DATELINE>    GLENVIEW, Ill., June 1 - </DATELINE><BODY>Zenith Electronics Corp said it
introduced a one-piece computer with 512 kilobytes of memory
priced starting at 999 dlrs.
    Zenith said the new computer, called the "eaZy pc", is
compatible with the PC/XT system and uses 3-1/2-inch disk
drives.
    The computer, Zenith's lowest priced unit, uses an Intel
8088-compatible microprocessor. Its memory will be expandable
to 640K through two options expected to be available in August.
The system uses an MS-DOS operating system developed by Zenith
and Microsoft Corp &lt;MSFT.O>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6050" NEWID="17712">
<DATE> 1-JUN-1987 14:28:31.12</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2069&#31;reute
r f BC-HUGHES-SUPPLY-INC-&lt;HU   06-01 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>HUGHES SUPPLY INC &lt;HUG> 1ST QTR APRIL 30 NET</TITLE>
<DATELINE>    ORLANDO, Fla., June 1 -
    </DATELINE><BODY>Shr 58 cts vs 53 cts
    Shr diluted 54 cts vs 53 cts
    Net 1,957,745 vs 1,594,009
    Sales 95.8 mln vs 87.4 mln
    NOTE: Average shares up 11.7 pct on primary basis.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6051" NEWID="17713">
<DATE> 1-JUN-1987 14:28:42.83</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>hong-kong</D><D>south-korea</D><D>taiwan</D><D>singapore</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2070&#31;reute
r f BC-EXPEDITERS-INTERNATIO   06-01 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>EXPEDITERS INTERNATIONAL &lt;EXPD.O> SEES GOOD YEAR</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Expediters International of Washington
Inc president John Kaiser told securities analysts business in
the current quarter is good and he is looking for good results
for the year.
    Kaiser, however, declined to make specific earnings
projections.  In 1986, the company reported earnings of 4.1 mln
dlrs, or 73 cts a share, on sales 108.8 mln dlrs.
    "The second quarter looks good and it looks like we're
going to have a good year," he said, citing strength in imports
and exports in the Pacific Rim.
    Kaiser also said a pickup in electronics and computer
business would help this year's results.
    The company is trying to get a license to operate directly
in Korea before next year's Olympics, he said. It currently
works through an agent there.
    He said four countries in the Pacific - Hong Kong, Korea,
Taiwan and Singapore, where the company does much if its
business - should have economic growth of more than 10 pct over
the next two to four years. "The Pacific Rim will still be our
strongest market," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6052" NEWID="17714">
<DATE> 1-JUN-1987 14:28:57.78</DATE>
<TOPICS><D>gold</D><D>silver</D><D>copper</D><D>alum</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>comex</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f2071&#31;reute
u f BC-/LITTLE-REACTION-TO-R   06-01 0139</UNKNOWN>
<TEXT>&#2;
<TITLE>LITTLE REACTION TO REMOVAL COMEX DAILY LIMITS</TITLE>
<DATELINE>    New York, June 1 - </DATELINE><BODY>The elimination of limits on daily price
fluctuations for metals futures contracts traded on the
Commodity Exchange, COMEX, appears to be having little effect
on the market, analysts said.
    "There is nothing apparent from the change," said William
O'Neill, director of futures research at Elders Futures Inc.
    "The market has not approached the old price limits and
trading is relative quiet, in narrow ranges," he said.
    On May 5, COMEX eliminated price limits on the two
contracts following each spot delivery in gold, silver, copper
and aluminum futures after a review of its clearing operations,
which were severely tested by a volatile market in silver
futures at the end of April. COMEX announced Friday the lifting
of all daily limits, effective today.
    Gold futures, which previously had a limit of 25 dlrs per
ounce in most back months, were about 7.00 dlrs weaker in the
nearby contracts amid thin volume conditions, traders said.
    Silver futures, previously limited at 50 cents in most back
months, were trading about 30-40 cts weaker in the nearby
contracts amid quiet trading today.
    During the last week of April, silver futures often traded
at the daily allowable limit amid concerns about inflation, the
dollar, and other factors. Traders rushed into the spot, or
unlimited, contract to offset those moves, analysts said.
    As a result, O'Neill said, there was much confusion, many
unmatched trades, and large losses for some traders.
    The COMEX fined four large firms a total of 100,000 dlrs
for failure to resolve unmatched trades in a timely manner.
    Paul Cain, a vice president at Shearson Lehman Brothers,
said the elimination of price limits will cut back on panic
buying or selling and contribute to more orderly markets.
    O'Neill added that the elimination of daily limits would
add caution to trading.
    "This is a more realistic approach because the metals
market is a 24 hours market and prices can move without limit,"
O'Neill said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6053" NEWID="17715">
<DATE> 1-JUN-1987 14:29:25.72</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2073&#31;reute
r f BC-&lt;GRAND-UNION-CO>-SEES   06-01 0051</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;GRAND UNION CO> SEES HIGHER YEAR SPENDING</TITLE>
<DATELINE>    ELMWOOD PARK, N.J., June 1 - </DATELINE><BODY>Grand Union Co, a subsidiary
of Generale Occidentale SA of France, said it plans capital
spending of 111 mln dlrs this year mostly for new stores and
expansions of existing units, up from 76 mln dlrs for the year
ended March 28, 1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6054" NEWID="17716">
<DATE> 1-JUN-1987 14:29:40.10</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2074&#31;reute
r f BC-TOTAL-HEALTH-&lt;TLHT.O>   06-01 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>TOTAL HEALTH &lt;TLHT.O> TO MAKE ACQUISITION</TITLE>
<DATELINE>    GREAT NECK, N.Y., June 1 - </DATELINE><BODY>Total Health Systems Inc said it
has agreed to acquire CoMED Inc of Denville, N.J., a health
maintenance organization with over 63,000 subscribers, for an
undisclosed amount of cash, the assumption of liabilities and
the provision of up to 10 mln dlrs in equity and debt
financing.
    The company said the acquisition is subject to regulatory
approvals.
    It said CoMED had 1986 revenues of 30.0 mln dlrs and
earnings of 650,383 dlrs and had revenues for the first four
months of 1987 of 13.6 mln dlrs, up 60 pct from a year before.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6055" NEWID="17717">
<DATE> 1-JUN-1987 14:29:44.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2075&#31;reute
r f BC-MEDITRUST-&lt;MTRUS.O>-R   06-01 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>MEDITRUST &lt;MTRUS.O> RAISES QUARTERLY PAYOUT</TITLE>
<DATELINE>    WELLESLEY, Mass., June 1 -
    </DATELINE><BODY>Qtly div 44 cts vs 39 cts prior
    Pay Aug 14
    Record July 31
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6056" NEWID="17718">
<DATE> 1-JUN-1987 14:30:05.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2078&#31;reute
d f BC-ALLTEL-&lt;AT>-GETS-PERM   06-01 0055</UNKNOWN>
<TEXT>&#2;
<TITLE>ALLTEL &lt;AT> GETS PERMISSION FOR LICENSE TRANSFER</TITLE>
<DATELINE>    HUDSON, Ohio, June 1 - </DATELINE><BODY>ALLTEL Corp said it has received
permission from the Federal Communications Commission for the
transfer of its Syracuse/Binghamton/Cortland, N.Y., radio
paging licenses to Mobile Communications Corp of America
&lt;MCCABV.O> and the transfer takes effect today.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6057" NEWID="17719">
<DATE> 1-JUN-1987 14:30:11.67</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2079&#31;reute
d f BC-UNITED-ASSET-&lt;UAM>-CO   06-01 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>UNITED ASSET &lt;UAM> COMPLETES ACQUISITION</TITLE>
<DATELINE>    PROVIDENCE, June 1 - </DATELINE><BODY>United Asset Management corp said it
has completed the acquisition of Rice, Hall, James and
Associates of San Diego for undisclosed terms.
    It said Rice Hall manages investments for institutions and
individuals and has about 690 mln dlrs in assets under
management currently.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6058" NEWID="17720">
<DATE> 1-JUN-1987 14:30:17.68</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2080&#31;reute
d f BC-KMS-INDUSTRIES-INC-&lt;K   06-01 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>KMS INDUSTRIES INC &lt;KMSI.O> GETS CONTRACT</TITLE>
<DATELINE>    ANN ARBOR, Mich., June 1 - </DATELINE><BODY>KMS Industries Inc said its
Covalent Technology Corp subsidiary won a one-year 60,000 dlr
contract for develpoing a rapid and simple method for detecting
heaptitis B antigen and diarrheal disease toxins.
    It said the award was from the Program for Appropriate
Technology in Health, in collaboration with the United States
Agency for International Development.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6059" NEWID="17721">
<DATE> 1-JUN-1987 14:30:52.51</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2082&#31;reute
u f BC-AIRLINE-ANALYSTS-STUD   06-01 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>AIRLINE ANALYSTS STUDY BRITISH AIRWAYS &lt;BAB></TITLE>
<AUTHOR>    By Philip Barbara, Reuters</AUTHOR>
<DATELINE>    CHICAGO, June 1 - </DATELINE><BODY>Since British Airways was sold to the
public by the British government, airline analysts have begun
covering the big carrier and giving it good reviews.
    "Analysts are picking up British Airways because it's a
major airline, and because they have fewer companies to work
with after all the mergers," said Merrill Lynch analyst Edmund
Greenslet. "Two years ago there were enough U.S. carriers, but
now more analysts are adding the international airlines."
    Merrill Lynch, for instance, will be covering it from its
international offices, he said.
    British Airways was sold to the public by the Conservative
government in February.
    It has a fleet of 167 jetliners, making it the largest in
Europe. A relatively small portion of revenue and traffic comes
from intra-U.K. operations, and its predominantly long-haul
route network spans the globe.
    Julius Maldutis at Salomon Brothers said he likes British
Airways because it can quickly redeploy jets to strong markets
or away from weak ones, as it did last year in response to the
severe downturn in North Atlantic traffic after the Chernobyl
nuclear disaster and terrorist actions.
    "Because of its diverse network, it has the ability to
hedge or mitigate adverse developments in one particular area,"
Maldutis said.
    He said British Airways should outperform the rest of the
stock market. Salomon was an underwriter for the company's
public offering in February.
    About 6.3 mln British Airways' American depositary receipts
are traded on the NYSE, and 2.8 mln ADRs on the Toronto
exchange. Each ADR equals 10 ordinary shares.
    Louis Marckesano at Janney Montgomery Scott said British
Airways near-term outlook is good. "We're looking for good
traffic growth and improved revenues," he said.
    "British Airways should be riding a good wave," he said.
"Its fiscal year began April one, so when you think of all the
troubles it experienced in the first half of last year,
especially in the North Atlantic market, you know all
camparisons should be nice."
    At March 31 the carrier had total debt of 279 mln stg for a
debt-to-equity ratio of 33 pct, which is very good for an
airline, analysts said.
    "Its balance sheet is very conservative - perhaps too
conservative for an airline - but that means it can borrow to
expand its fleet," Marckesano said.
    British Airways has been a leading force of airline
liberalization in Europe, which is being gradually implemented
to avoid the problems of U.S. airline deregulation, which
brought years of unstable fares and losses.
    Analysts agree a phased-in deregulation will greatly
benefit British Airways over the long run because it is the
largest European carrier.
    Analysts caution that British Airways faces increasing
competition for travelers to Europe from U.S. carriers as
airline consolidation here expands route networks.
    In 1983, for instance, about 69 pct of U.K.-bound
passengers transferred to European carriers after arriving at
U.S. gateway airports onboard U.S. carriers.
    But U.S. carriers are retaining more of their passengers,
and this year about 30 pct of U.K.-bound travelers are expected
to switch to a European carrier to complete the trip, according
to British Airways' chief executive officer, Colin Marshall.
    "British Airways had a greater shot at picking up traffic
when it was funneled to New York," said Marckesano "Now,
traffic is being captured earlier by U.S. carriers as it leaves
Atlanta, Dallas and other cities," said Marckesano.
    He also said that British Airways' first-half results might
mislead an investor into gauging full-year results because its
fiscal year begins April one.
    "Profits build in the first half. But if an investor just
doubles that figure, he'll be making a big mistake," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6060" NEWID="17722">
<DATE> 1-JUN-1987 14:32:03.53</DATE>
<TOPICS><D>soybean</D><D>grain</D><D>wheat</D><D>corn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2089&#31;reute
f f BC-export-inspections   06-01 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. EXPORT INSPECTIONS, IN THOUS BUSHELS,  SOYBEANS 7,209, WHEAT 15,187 CORN 25,347
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6061" NEWID="17723">
<DATE> 1-JUN-1987 14:33:33.18</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2097&#31;reute
u f BC-COMPUTERLAND-TO-BE-AC   06-01 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>COMPUTERLAND TO BE ACQUIRED BY INVESTOR GROUP</TITLE>
<DATELINE>    OAKLAND, Calif., June 1 - </DATELINE><BODY>Computerland Corp said an
investor group led by the financial services firm E.M. Warburg
Pincus and Co Inc has agreed to acquire Computerland's
business.
    Computerland, a privately-held company said to be the
world's largest retailer of personal computers, declined to
provide details of the arrangement.
    But the company said it expects to close the acquisition
over the next 60 to 90 days.
    In announcing the transaction, Computerland said the
acquisition will provide it with resources and support to
maintain and expand its leadership position in the computer
retail industry.
    Computerland also said its network retail sales in 1986
totalled 1.45 billion dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6062" NEWID="17724">
<DATE> 1-JUN-1987 14:37:33.36</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2118&#31;reute
r f BC-WATCHDOG-GROUP-SEEKS   06-01 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>WATCHDOG GROUP SEEKS U.S. RECALL OF SCHOOLBUSES</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>The Center for Auto Safety, a private
auto industry watchdog group, sought a government recall of
50,000 schoolbuses, charging that a defect in their manufacture
causes the buses to split open in a crash.
    The center said it asked the National Highway Traffic
Safety Administration (NHTSA) to recall all school buses built
since 1977 by Thomas Built Buses of High Point, N.C..
    "In the past seven years, 45 children were injured and six
killed in crashes of Thomas schoolbuses where the panels of the
buses split open at the joints," Executive Director Clarence
Ditlow wrote Transportation Secretary Elizabeth Dole.
    NHTSA is a part of the U.S. Department of Transportation.
    Ditlow said Thomas had failed eight body and three floor
joint tests since 1977. "No Thomas schoolbus tested for joint
strength since (a federal standard) was adopted in 1978 has
ever passed," he said.
    Officials of Thomas were unavailable for comment.
    NHTSA officials had no immediate comment on the recall
petition.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6063" NEWID="17725">
<DATE> 1-JUN-1987 14:38:44.24</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2121&#31;reute
d f BC-ELECTROSPACE-&lt;ELE>-GE   06-01 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>ELECTROSPACE &lt;ELE> GETS DEFENSE CONTRACT</TITLE>
<DATELINE>    RICHARDSON, Texas, June 1 - </DATELINE><BODY>Electrospace Systems Inc said
it has received the first 1,623,000 dlr increment of a possible
five mln dlr contract award from the U.S. Space and Naval
Warfare Systems Command.
    It said the contract covers production and systems
integration of seven AN/WSC-6 SHF SATCOM systems for use on
combatant and survey ships.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6064" NEWID="17726">
<DATE> 1-JUN-1987 14:39:13.46</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2123&#31;reute
w f BC-SOONER-DEFENSE-&lt;SOON.   06-01 0038</UNKNOWN>
<TEXT>&#2;
<TITLE>SOONER DEFENSE &lt;SOON.O> GETS CONTRACT</TITLE>
<DATELINE>    LAKELAND, Fla., June 1 - </DATELINE><BODY>Sooner Defense of Florida Inc said
it won a 4.2 mln dlr contract from the U.S. Army Armament to
build  electronic proximity fuzes used in Navy five-inch gun
systems.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6065" NEWID="17727">
<DATE> 1-JUN-1987 14:39:30.94</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2124&#31;reute
b f BC-***BILZERIAN-SAYS-IF   06-01 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
***<TITLE>BILZERIAN SAYS IF PAY N'PAK SIGNS MERGER ACCORD HE WILL TENDER FOR 7.5 MLN SHARES
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6066" NEWID="17728">
<DATE> 1-JUN-1987 14:39:41.22</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2125&#31;reute
d f BC-PIOSEC-&lt;PIO.AL>-ACQUI   06-01 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>PIOSEC &lt;PIO.AL> ACQUIRES SEMICONDUCTOR STAKE</TITLE>
<DATELINE>    VANCOUVER, B.C., May 31 - </DATELINE><BODY>Piosec Technology Ltd said it
exchanged 4.5 mln common shares for 21 pct of privately owned
&lt;Alliance Semiconductor Corp> of Santa Clara, Calif.
    Followin the acquisition, a Piosec spokesman said, the
company has 6.5 mln shares outstanding.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6067" NEWID="17729">
<DATE> 1-JUN-1987 14:39:58.65</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2127&#31;reute
d f BC-AMERICAN-CREDIT-CARD   06-01 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN CREDIT CARD &lt;ACCT.O> TO MAKE PURCHASE</TITLE>
<DATELINE>    FORT LAUDERDALE, Fla., June 1 - </DATELINE><BODY>American Credit Card
Telephone Co said it has completed arrangements to purchase
500,000 of its common shares and 500,000 of its warrants as
well as all payphone technology, software and rights from
Digvitech Inc's &lt;DGTC.O> Digitech Communications Inc affiliate.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6068" NEWID="17730">
<DATE> 1-JUN-1987 14:41:56.05</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f2132&#31;reute
u f BC-FRENCH-TREASURY-DETAI   06-01 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH TREASURY DETAILS PLANNED TAP ISSUE</TITLE>
<DATELINE>    PARIS, June 1 - </DATELINE><BODY>The French Treasury will issue between
eight and 10 billion francs worth of tap stock, depending on
market conditions, at its next monthly tender on Thursday, the
French bond issuing committee said.
    The planned issue will be of two fixed-rate tranches of the
8.50 pct May 1994 and the 8.50 pct December 2012 stock and one
tranche of the 12-year variable rate 1999 stock.
    At its last tender on May 7, the Bank of France sold 8.2
billion francs of tap stock.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6069" NEWID="17731">
<DATE> 1-JUN-1987 14:46:10.74</DATE>
<TOPICS><D>tin</D></TOPICS>
<PLACES><D>uk</D><D>japan</D><D>malaysia</D><D>brazil</D><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>itc</D></ORGS>
<EXCHANGES><D>lme</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f2138&#31;reute
d f BC-/TIN-TRADERS'-RESPONS   06-01 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>TIN TRADERS' RESPONSE MUTED TO KL FUTURES MARKET</TITLE>
<DATELINE>    LONDON, June 1 - </DATELINE><BODY>European free market tin traders made a
somewhat muted response to plans for a Kuala Lumpur
dollar-based tin futures market due to be launched in October.
    Traders said the new market would probably be a useful
trading medium for Japan and other South East Asian tin
interests although European traders generally appear to be
reasonably satisfied with the current "free market" system
which has been operating since London Metal Exchange, LME, tin
trading ceased in October 1985. Dealers here will also want to
see how acceptable foreign metal will be on the new market and
what sort of demand develops for forward deliveries.
    There is also a view among European traders that, while the
proposed Kuala Lumpur tin futures market would provide another
useful reference point, a market inaugurated by the Malaysian
government -- in the past viewed as a major player at times by
the trade -- would make participants uncomfortable.
    Some traders expressed a preference for a resumption of
trading on the London Metal Exchange, but they added that while
there has been some behind the scenes discussion on the subject
a definite move is unlikely until outstanding High Court
litigation actions have been resolved.
    Spot tin prices on the European free market are currently
around 4,200 stg per tonne for high grade metal in warehouse
Rotterdam. Over the past 18 months the price moved to a ten
year low of 3,400 stg in March 1986 and rebounded to as high as
4,680 stg in December 1986.
    This compares with 8,140 stg last paid when LME trading
ceased in October 1985 and a record high tin price of 10,350
stg traded for Cash Standard Grade metal in June of that year.
    LME warehouse stocks are now near a two-year low at 28,065
tonnes, having fallen steadily from a record high of 72,485
tonnes reached in February 1986.
    Traders said the free market turned bullish during late
last year based on producer forecasts of a supply/demand
deficit of some 28,000/29,000 tonnes. Analysts were predicting
prices of up to 5,000 stg per tonne during 1987.
    However, the trend was reversed following a strong upswing
in sterling versus the dollar and values fell back briefly to
4,100 stg last month after approaching 4,700 stg in December.
    The decline accelerated as producers who had sold very
little metal at the higher levels became competitive sellers.
    There was also a lack of significant demand from major
steel mills who made large purchases prior to the new year.
    Traders say the 15 ITC creditor banks' original tin
holdings of nearly 45,000 tonnes have now been almost halved,
and the bulk of material still available is being held by
Malaysian and Japanese firms which are reluctant to depress the
market with unwanted metal.
    Some 80,000 tonnes were held by banks and brokers after the
International Tin Council's, ITC, buffer stock manager halted
support operations on the LME on behalf of the 22 members
nations of the International Tin Agreement.
    The overhang of metal was reduced further by broker
Shearson Lehman Brothers, which earlier this year reported
having sold its ITC-related holdings and halved its overall tin
position.
    Analysts see no immediate sign of a rally in European tin
prices and movements are still expected to be largely related
to currency fluctuations, unless significant consumer demand
emerges for the third quarter.
    The Association of Tin Producing Countries, ATPC, has made
efforts since the collapse of the ITA to achieve higher world
prices by attempting to bring all major producers under an
export control umbrella, but to date Brazil and China, two
major producers, remain unaffected by the ATPC argument and
apparently are continuing to offer material at discounts to
consumers in main European trading centres, dealers said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6070" NEWID="17732">
<DATE> 1-JUN-1987 14:47:54.39</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2145&#31;reute
r f BC-LEISURE-CONCEPTS-&lt;LCI   06-01 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>LEISURE CONCEPTS &lt;LCIC.O>, LORIMAR &lt;LT> IN DEAL</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Leisure Concepts Inc said it has signed
a definitive agreement to be licensing agent for all
Lorimar-Telepictures Corp television and film properties,
formalizing a preliminary agreement reached in January.
    It said undser the terms, Lorimar has received a five-year
warrant to buy up to 250,000 Leisure Concepts shares at 6.25
dlrs each.  Leisure Concepts now has about 3,100,000 shares
outstanding.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6071" NEWID="17733">
<DATE> 1-JUN-1987 14:49:00.20</DATE>
<TOPICS><D>cocoa</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>icco</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f2149&#31;reute
f f BC-******ICCO-buffer-sto   06-01 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>ICCO buffer stock manager to buy 5,000 tonnes cocoa Tuesday, June 2 - official
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6072" NEWID="17734">
<DATE> 1-JUN-1987 14:50:18.24</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2153&#31;reute
r f BC-HAYES-MICROCOMPUTER-A   06-01 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>HAYES MICROCOMPUTER ANNOUNCES NEW MODEMS</TITLE>
<DATELINE>    NORCORSS, Ga., June 1 - </DATELINE><BODY>&lt;Hayes Microcomputer Products Inc>
said it has introduced five new V-series system products and a
new generation communication software package, Smartcom III.
    Hayes said the new V-series includes the V-Series
Smartmodem 9600, V-Series Smartmodem 9600B, V-Series Smartmodem
2400 and V-series Smartmodem 2400B.
    These products provide error control, adaptive data
compression and automatic feature negotiation, Hayes said.
    Hayes also said it has established a network of dealers and
distributors aurthorized to sell the new products.
    The company also said it has introduced a V-series Modem
Enhancer and has reduced the estimated retail prices on its
current modem product line.
    Its other new product, the Smartcom III, is a
communications program for the International Business Machines
Corp &lt;IBM> PC, Compaq Computer &lt;CPQ> and compatible personal
computers, the company said.
    Hayes said it has priced the Smartmodem 9600 at 1,299 dlrs,
Smartmodem 9600B at 1,199 dlrs (1,299 dlrs with Smartcom III),
V-Series Smartmodem 2400 at 899 dlrs and V-series Smartmodem
2400B at 849 dlrs (899 dlrs with Smartcom).
    In addition, Hayes said that following an introductory
promotional price of 199 dlrs  until September 30, the V-series
modem enhancer will have an estimated retail price of 349 dlrs.
    Smartcom III will be priced at 249 dlrs, Hayes said, adding
that all products will be available this month.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6073" NEWID="17735">
<DATE> 1-JUN-1987 14:51:19.91</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2155&#31;reute
d f BC-GULL-&lt;GLL>-GETS-MCDON   06-01 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>GULL &lt;GLL> GETS MCDONELL DOUGLAS &lt;MD> CONTRACT</TITLE>
<DATELINE>    SMITHTOWN, N.Y., June 1 - </DATELINE><BODY>Gull Inc said it has received a
contract initially worth about 1,500,000 dslrs to supply
McDonnell Douglas Corp with the control system for an On-Board
Inert Gas Generating System to be used in the new C-17A
military transport cargo airport.
    It said under production options in the coutract, it could
supply controllers for up to 210 aircraft, raising the value of
the contract to over 25 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6074" NEWID="17736">
<DATE> 1-JUN-1987 14:52:17.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2158&#31;reute
d f BC-LODGISTIX-&lt;LDGX.O>-OP   06-01 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>LODGISTIX &lt;LDGX.O> OPENS OFFICE IN CANADA</TITLE>
<DATELINE>    WICHITA, Kan., June 1 - </DATELINE><BODY>Lodgistix Inc said it is expanding
distribution in Canada of its automated property management
systems for hotel and resorts with the opening of a new ssales
office in Calgary, Alberta.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6075" NEWID="17737">
<DATE> 1-JUN-1987 14:59:13.88</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2169&#31;reute
r f BC-US-WEST-&lt;USW>-UNIT-WI   06-01 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>US WEST &lt;USW> UNIT WINS POINT-OF-SALE CONTRACT</TITLE>
<DATELINE>    OMAHA, Neb., June 1 - </DATELINE><BODY>US West Information Systems said it
completed an agreement with the Australia and New Zealand
Banking Group Ltd &lt;ANZA.S> to provide a turnkey installation of
hardware, software and support services for a nationwide
point-of-sale network in Australia.
    Financial terms of the five-year agreement were not
disclosed. US West Information Systems is a unit of US West
Inc.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6076" NEWID="17738">
<DATE> 1-JUN-1987 14:59:23.27</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2170&#31;reute
r f BC-CO-OPERATIVE-&lt;COBK.O>   06-01 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>CO-OPERATIVE &lt;COBK.O> COMPLETES ACQUISITION</TITLE>
<DATELINE>    ACTON, Mass., June 1 - </DATELINE><BODY>Co-operative Bancorp said it
completed the acquisition of all the issued and outstanding
stock of the Quincy Co-operative Bank &lt;QBCK.O>.
    Under the agreement, Quincy stockholders will receive 30
dlrs cash for each share owned of the Quincy Co-operative Bank,
for a total transaction of approximately 50 mln dlrs,
Co-operative said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6077" NEWID="17739">
<DATE> 1-JUN-1987 14:59:44.64</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2173&#31;reute
d f BC-EPSCO-&lt;EPSC.O>-GETS-R   06-01 0045</UNKNOWN>
<TEXT>&#2;
<TITLE>EPSCO &lt;EPSC.O> GETS RAYTHEON &lt;RTN> CONTRACTS</TITLE>
<DATELINE>    WESTWOOD, Mass., June 1 - </DATELINE><BODY>EPSCO Inc said it has receiveed
contracts worth 2,800,000 dlrs from Raytheon Co for
high-powered microwave components and antenna feed subsystems
for use on the Patriot air defense missile system.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6078" NEWID="17740">
<DATE> 1-JUN-1987 14:59:50.00</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2174&#31;reute
d f BC-NATIONAL-HEALTHCARE-&lt;   06-01 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>NATIONAL HEALTHCARE &lt;NHC> OPENS CENTER</TITLE>
<DATELINE>    MURFREESBORO, Tenn., June 1 - </DATELINE><BODY>National HealthCorp LP said
it has opened a 120-bed nursing care and phsical therapy center
in Pensacola, Fla., called Palm Gardens of Pensacola.
    It said it manages the center for owner Florida
Convalescent Centers Inc.       
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6079" NEWID="17741">
<DATE> 1-JUN-1987 15:00:40.38</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2177&#31;reute
f f BC-******REAGAN-TO-CALL   06-01 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>REAGAN TO CALL FOR WEST GERMAN AND JAPANESE ECONOMIC GROWTH AT VENICE SUMMIT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6080" NEWID="17742">
<DATE> 1-JUN-1987 15:00:48.13</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2178&#31;reute
f f BC-******REAGAN-SAYS-U.S   06-01 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>REAGAN SAYS U.S., ALLIES MUST HONOR ACCORDS ON EXCHANGE RATE STABILITY
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6081" NEWID="17743">
<DATE> 1-JUN-1987 15:01:50.78</DATE>
<TOPICS><D>acq</D><D>pet-chem</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2186&#31;reute
r f BC-MONSANTO-&lt;MTC>-TO-ACQ   06-01 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>MONSANTO &lt;MTC> TO ACQUIRE RHONE-POULENC ASSETS</TITLE>
<DATELINE>    ST. LOUIS, June 1 - </DATELINE><BODY>Monsanto Co said it is acquiring
certain commerical assets of &lt;Rhone-Poulenc Chimie's>
polyphenyl business.
    Terms of the transaction were not disclosed.
    Among the assets being acquired are its polyphenyl business
worldwide, including biphenyl and the heat transfer fluid
Gilotherm TH, together with associated manufacturing and
application technology, Monsanto said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6082" NEWID="17744">
<DATE> 1-JUN-1987 15:01:59.67</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2187&#31;reute
r f BC-PEPSICO-&lt;PEP>-NEW-JER   06-01 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>PEPSICO &lt;PEP> NEW JERSEY BOTTLING UNIT ON STRIKE</TITLE>
<DATELINE>    PURCHASE, N.Y., June 1 - </DATELINE><BODY>The New Jersey operations of
Pepsico Inc's Pepsicola Bottling Group in the New York
metropolitan area have been struck by Teamsters Union Local
125, a Pepsico spokesman said.
    He said the company has hired temporary drivers to cover
deliveries from the struck warehouses in West Caldwell, North
Brunswick, Moonachie and South Carney.
    Also struck were the company's manufacturing operations at
Teeterboro and its food service operations at Hasbrouck
Heights, the spokesman added.
    The Pepsico spokesman said the company's contract with the
union expirted at 2400 EDT yesterday.
    He said the company reached a tentative agreement with the
union Friday after five weeks of negotiations which was
rejected by the rank and file in a vote Saturday.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6083" NEWID="17745">
<DATE> 1-JUN-1987 15:02:18.90</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2189&#31;reute
r f BC-INTERNATIONAL-RESEARC   06-01 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>INTERNATIONAL RESEARCH &lt;IRDV.O> SEES HIGHER NET</TITLE>
<DATELINE>    MATTAWAN, Mich., June 1 - </DATELINE><BODY>International Research and
Development Corp's earnings per share in its second quarter
should be higher than the three cts a share earned in the 1986
period, president Francis X. Wazeter told shareholders.
    He said share earnings in this year's second period will be
about the same as the six cts a share earned in the 1987 first
period.
    Wazeter said earnings per share this year should be higher
than the 15 cts a share made last year, and revenues from
studies in progress will be higher than last year's revenues of
16.1 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6084" NEWID="17746">
<DATE> 1-JUN-1987 15:02:46.29</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2192&#31;reute
r f BC-INFO-DATA-TO-ACQUIRE   06-01 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>INFO-DATA TO ACQUIRE USA OUTDOOR ADVERTISING</TITLE>
<DATELINE>    DEERFIELD BEACH, Fla., June 1 - </DATELINE><BODY>&lt;Info-Data Inc> said it
will acquire &lt;USA Outdoor Advertising Inc> of Jacksonville,
Fla., in exchange for stock.
    USA Outdoor Advertising was acquired for 62.4 pct of the
outstanding shares of Info-Data Inc, the company said.
    Info-Data said it plans to change its name to USA Outdoor
Advertising Inc to reflect the change in the company's
operations.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6085" NEWID="17747">
<DATE> 1-JUN-1987 15:03:11.85</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>west-germany</D><D>japan</D></PLACES>
<PEOPLE><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2194&#31;reute
u f BC-/REAGAN-CALLS-FOR-W.   06-01 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>REAGAN CALLS FOR W. GERMAN, JAPANESE GROWTH</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>President Reagan said he will use the
annual economic summit of major industrialized countries to
press for economic expansion by West Germany and Japan.
    In a pre-summit speech at the White House, Reagan said that
preserving a growing world economy was the business of every
member of the world trading community.
    "It will be made clear, especially to our friends in Japan
and the Federal Republic of Germany that growth-oriented
domestic policies are needed to bloster the world trading
system on which they depend," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6086" NEWID="17748">
<DATE> 1-JUN-1987 15:03:19.66</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2195&#31;reute
u f BC-/REAGAN-URGES-FULFILL   06-01 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>REAGAN URGES FULFILLMENT OF EXCHANGE ACCORDS</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>President Reagan, preparing to depart
for the Venice economic summit on Wednesday, said the United
States and its allies must fulfill agreements on exchange rate
stability.
    "Economic policy decisions made last year in Tokyo, and at
this year's meetings of Group of 7 Finance ministers in Paris
and in Washington, cannot be ignored or forgotten," he said.
    "The commitments made at these meetings need to be
translated into action," Reagan said in a pre-summit speech
celebrating the 40th anniversary of the Marshall Plan.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6087" NEWID="17749">
<DATE> 1-JUN-1987 15:03:26.51</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2196&#31;reute
r f BC-UNI-MARTS-&lt;IMMA.O>-AC   06-01 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>UNI-MARTS &lt;IMMA.O> ACQUIRES GAS-N-ALL STORES</TITLE>
<DATELINE>    STATE COLLEGE, Pa., June 1 - </DATELINE><BODY>Uni Marts Inc said it acquired
seven &lt;Gas-N-All Inc> convenience stores for an undisclosed
amount of cash.
    The acquisition bring to 228 the number of convenience
stores owned by Uni-Marts, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6088" NEWID="17750">
<DATE> 1-JUN-1987 15:04:24.68</DATE>
<TOPICS><D>ship</D><D>crude</D></TOPICS>
<PLACES><D>usa</D><D>uk</D><D>canada</D><D>italy</D><D>france</D><D>west-germany</D><D>japan</D></PLACES>
<PEOPLE><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2201&#31;reute
u f AM-SUMMIT-REAGAN***URGEN T-(EMBARGOED)  06-01 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>REAGAN HINTS U.S. WANTS HELP IN PATROLLING GULF</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>President Reagan said he would discuss
the Mideast Gulf situation with allied leaders at next week's
Venice economic summit and hinted he would seek their help in
preserving free navigation.
    In a speech prepared for delivery as the United States made
plans to protect 11 Kuwaiti oil tankers from Iranian attack,
Reagan said the American people were aware that "it is not our
interests alone that are being protected."
    Saying that allied dependence on gulf oil was no secret,
Reagan declared, "During the upcoming summit in Venice, we will
be discussing the common security interests shared by the
western democracies in the MIDEAST Gulf.
    "The future belongs to the brave. Free men should not cower
before such challenges, and they should not expect to stand
alone."
    Reagan will meet the leaders of Britain, France, West
Germany, Italy, Canada and Japan at the economic summit, which
will take place in Venice June 8-10.
   
    The 13th annual top-level meeting of the major industrial
democracies will take place against a backdrop of rising
congressional concern over Reagan's plan to protect gulf
shipping and demands that the allies do more.
     These concerns were heightened by the May 17 Iraqi missile
attack on the U.S. frigate Stark which killed 37 seamen.
    "They died while guarding a chokepoint of freedom, deterring
aggression and reaffirming America's willingness to protect its
vital interests," Reagan said.
   
    In a pre-summit speech celebrating the 40th anniversary of
the Marshall Plan, Reagan, who spoke to an audience of foreign
affairs experts, also pledged to push for economic expansion by
West Germany and Japan to bolster the world trading system.
    "While the vibrancy of the U.S. economy has contributed
enormously to the world expansion, preserving a growing world
economy is the business of every member of the world trading
community," he said.
   
    "It will be made clear, especially to our friends in Japan
and the Federal Republic of Germany, that growth-oriented
domestic policies are needed to bolster the world trading
system on which they depend."
    Reagan coupled this appeal with a call for compliance with
allied accords on exchange rate stability.
    "Economic policy decisions made last year in Tokyo and at
this year's meetings of Group of Seven finance ministers in
Paris and in Washington cannot be ignored or forgotten," he
said. "The commitments made at these meetings need to be
translated into action."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6089" NEWID="17751">
<DATE> 1-JUN-1987 15:05:10.36</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2208&#31;reute
r f BC-MERRILL-CORP-&lt;MRLL.O>   06-01 0031</UNKNOWN>
<TEXT>&#2;
<TITLE>MERRILL CORP &lt;MRLL.O> 1ST QTR APRIL 30 NET</TITLE>
<DATELINE>    ST. PAUL, Minn., June 1 -
    </DATELINE><BODY>Shr 21 cts vs 20 cts
    Net 965,000 vs 726,000
    Revs 13.4 mln vs 11.8 mln
    Avg shrs 4,606,242 vs 3,624,528
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6090" NEWID="17752">
<DATE> 1-JUN-1987 15:05:15.19</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2209&#31;reute
r f BC-ADVANCED-TELECOMMUNIC   06-01 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>ADVANCED TELECOMMUNICATIONS &lt;ATEL.O> TO BUY CO</TITLE>
<DATELINE>    ATLANTA, Ga., June 1 - </DATELINE><BODY>Advanced Telecommunications Corp
said it reached an agreement in principle to purchase &lt;Teltec
Savings Communications Co>, a long distance telephone service
in Florida.
    The proposed acquisition price is approximately 17.5 mln
dlrs in cash, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6091" NEWID="17753">
<DATE> 1-JUN-1987 15:05:20.62</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2210&#31;reute
d f BC-ODETICS-INC-&lt;OA/OB>-4   06-01 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>ODETICS INC &lt;OA/OB> 4TH QTR MARCH 31 NET</TITLE>
<DATELINE>    ANAHEIM, Calif., June 1 -
    </DATELINE><BODY>Shr seven cts vs eight cts
    Net 278,000 vs 340,000
    Revs 11.4 mln vs 8,871,000
    Year
    Shr three cts vs one ct
    Net 113,000 vs 33,000
    Revs 39.7 mln vs 33.1 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6092" NEWID="17754">
<DATE> 1-JUN-1987 15:12:30.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2232&#31;reute
r f BC-FDIC-CHIEF-SAYS-MORE   06-01 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>FDIC CHIEF SAYS MORE BANKS WILL BUILD RESERVES</TITLE>
<DATELINE>    SAN FRANCISCO, June 1 - </DATELINE><BODY>Federal Deposit Insurance Corp
Chairman L. William Seidman told a bankers' meeting he thinks
more banks will follow Citicorp &lt;CCI> and Chase Manhattan &lt;CMB>
in building up their reserves to meet Latin American debt
problems.
    Seidman, speaking to an American Bankers Association trade
conference, said he did not think regulators would play as big
a role in encouraging banks to build up their loan-loss
reserves as the marketplace would.
   
    My guess is that we as regulators won't become the key
factor. I think the market system will get most of the other
banks to follow suit," Seidman told some 3,000 executives
attending the ABA's National Operations and Automation
Conference.
    In the past two weeks, Citicorp has added three billion
dlrs and Chase Manhattan, 1.6 billion dlrs, to their loan-loss
reserves.
   
    "I think that most banks are going to find it irresistible
to move forward on the same type of reserving because, if they
don't, their future earnings will be penalized as they hold up
their reserves on a quarter-by-quarter basis," Seidman said.
    He said Chase and Citibank, by setting aside huge amounts
at one time,  have put their losses behind them and will show
much better future earnings.
    That, he said, will put pressure on more banks to follow
suit.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6093" NEWID="17755">
<DATE> 1-JUN-1987 15:19:06.67</DATE>
<TOPICS><D>grain</D><D>wheat</D><D>oilseed</D></TOPICS>
<PLACES><D>usa</D><D>south-korea</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2252&#31;reute
d f BC-ADDITIONAL-CCC-CREDIT   06-01 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>ADDITIONAL CCC CREDIT GUARANTEES FOR KOREA--USDA</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>The Commodity Credit Corporation (CCC)
has reallocated 50.0 mln dlrs in credit guarantees from the
previously announced undesignated line to provide additional
guarantees for sales of feedgrains, oilseeds, and wheat to
South Korea, the U.S. Agriculture Department said.
    The department said the action increases the feed grains
line by 23 mln dlrs to 63 mln, the oilseed line by seven mln
dlrs to 52 mln, and the wheat guarantee line by 20 mln to 165
mln dlrs.
    The undesignated line is reduced to zero.
    The commodities are for delivery during the current fiscal
year ending this September 30, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6094" NEWID="17756">
<DATE> 1-JUN-1987 15:19:30.74</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f2253&#31;reute
d f BC-FDIC-CHIEF-SAYS-MORE   06-01 0129</UNKNOWN>
<TEXT>&#2;
<TITLE>MORE U.S. BANKS SEEN BUILDING LOSS RESERVES</TITLE>
<DATELINE>    SAN FRANCISCO, June 1 - </DATELINE><BODY>Federal Deposit Insurance
Corporation Chairman L. William Seidman told a bankers' meeting
he thinks more banks will follow Citicorp and Chase Manhattan
in building up their reserves to meet Latin American debt
problems.
    Seidman, speaking to an American Bankers Association trade
conference, said he did not think regulators would play as big
a role in encouraging banks to build up their loan-loss
reserves as the marketplace.
    "My guess is that we as regulators won't become the key
factor. I think the market system will get most of the other
banks to follow suit," Seidman said.
    In the past two weeks, Citicorp added three billion dlrs
and Chase Manhattan 1.6 billion to loan-loss reserves.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6095" NEWID="17757">
<DATE> 1-JUN-1987 15:19:58.13</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f2254&#31;reute
b f BC-******BASIN-PIPELINE   06-01 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BASIN PIPELINE TEXAS/OKLA BORDER WASHED OUT BY FLOODS SOME 300,000 BPD CRUDE AFFECTED.
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6096" NEWID="17758">
<DATE> 1-JUN-1987 15:25:11.24</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2259&#31;reute
u f BC-CCC-INTEREST-HIGHER-I   06-01 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>CCC INTEREST HIGHER IN JUNE, USDA SAYS</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>Interest rates on commodity loans
disbursed by the Commodity Credit Corporation (CCC) this month
will carry a 6-7/8 pct interest rate, the U.S. Agriculture
Department said.
    That is up from the May rate of 6-1/4 pct and reflects the
interest rate charged the CCC by the U.S. Treasury in June,
USDA noted.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6097" NEWID="17759">
<DATE> 1-JUN-1987 15:25:19.40</DATE>
<TOPICS><D>veg-oil</D></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f2260&#31;reute
u f BC-ANDRIESSEN-HINTS-OIL   06-01 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>ANDRIESSEN HINTS FATS/OIL TAX COULD GO TO SUMMIT</TITLE>
<DATELINE>    HEVEREN, Belgium, June 1 - </DATELINE><BODY>European Community (EC)
Agriculture Commissioner Frans Andriessen said his proposal for
a tax of up to 330 European Currency Units per tonne on oils
and fats was likely to go up for discussion at next week's
summit meeting of EC leaders.
    EC farm ministers have been unable to agree the tax, one of
the main items proposed by Andriessen for the 1987-88 farm
price package.
    The tax, which would apply on both domestically-produced
and imported oils and fats, has been fiercely opposed by the
United States and developing countries' vegetable and marine
oil producers.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6098" NEWID="17760">
<DATE> 1-JUN-1987 15:26:25.40</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2262&#31;reute
b f BC-BILZERIAN-PREPARED-TO   06-01 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>BILZERIAN PREPARED TO TENDER FOR PAY N'PAK &lt;PNP></TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Investor Paul Bilzerian said if Pay N'
Pak Stores Inc enters into a merger accord with him he will
immediately begin a tender offer for 7.5 mln shares for 20 dlrs
per share in cash.
    Bilzerian told Reuters he believes his offer is superior to
a leveraged buyout proposal disclosed in an announcement by the
company this morning.
    The company said it is evaluating both proposals.
Bilizerian said he was optimistic his offer will be accepted at
a meeting of the board of directors Wednesday. Officials of Pay
N' Pak did were not immediately available for comment.
 
    Bilzerian said he has a pool of 150 mln dlrs raised by
Shearson Lehman Brothers Inc available for the tender and "we
may add a bank to that."
    "We've submitted an agreement we're prepared to sign," he
said. Shares not accepted in Bilzerian's tender would be
exchangeable for 20 dlrs in convertible preferred stock.
    Asked what would happen if the leveraged buyout group,
which the company did not identify, topped his offer between
now and the board meeting, Bilzerian said he expected an
opportunity to respond.
    Pay N' Pak gave no details about the buyout group, but did
say the offer was contingent on financing and on an agrreement
regarding management's equity participation.
    Bilzerian said it was his understanding that the management
particpation was "nominal."
    Pay N' Pak fell 1-1/2 to 19. Arbitrageurs said there was
disappointment that neither of the offers topped 20 dlrs.
    "We were expecting an offer north of (above) 21 or 22
dlrs," said one arbitrageur. The leveraged buyout plan was for
17.50 dlrs per share in cash and 2.50 dlrs in 13-1/2 pct
cumulative preferred stock.

    Robert Cheadle, analyst at Montgomery Securities, said "you
have to ask yourself why no one in the industry made a bid."
    Scott Drysdale, analyst at Birr Wilson Securities, said the
company has not made the best strategic moves over the years.
"They have not done the right things at the right time," he
said, and as a result earnings per share have steadily declined
since 1984. The 57 cts per share in earnings reported for the
fiscal year ended in February was lower than 1978's earnings,
he said. Earnings totaled 5.7 mln dlrs on revenue of 398.4 mln
dlrs.
    Drysdale said Pay N' Pak has better trained sales people
than many competitors, but it competes on price even though
competitors have lower costs. The result is squeezed margins.
He noted that there have been no other publicly identified
bidders stepping forward since the company rejected an earlier
Bilzerian proposal in mid-April.
    Another arbitrageur said it might not be too late for
another bidder to get in the game. He speculated that someone
in the same home improvement business might be able to offer a
deal for stock that would top both the buyout proposal and
Bilzerian's plan.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6099" NEWID="17761">
<DATE> 1-JUN-1987 15:27:00.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2264&#31;reute
u f BC-TORONTO-SUN-&lt;TSP.TO>   06-01 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>TORONTO SUN &lt;TSP.TO> RAISES DIVIDEND</TITLE>
<DATELINE>    Toronto, June 1 - </DATELINE><BODY>Toronto Sun Publishing Corp said it
raised its semi-annual dividend to five cts per share, pay June
15, record June nine
    The company said the annual dividend rate, now ten cts per
share, is an increase of 33 pct after adjusting for a two for
one split of the common shares.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6100" NEWID="17762">
<DATE> 1-JUN-1987 15:29:27.09</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2267&#31;reute
f f BC-******FORSTMANN-LITTL   06-01 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FORSTMANN LITTLE AND CO SAID IT PLANS TO SELL SYBRON CORP UNIT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6101" NEWID="17763">
<DATE> 1-JUN-1987 15:31:01.76</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2270&#31;reute
r f BC-PHARMACONTROL-&lt;PHAR.O   06-01 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>PHARMACONTROL &lt;PHAR.O> ACQUIRES REVCO UNIT</TITLE>
<DATELINE>    ENGLEWOOD CLIFFS, N.J., June 1 - </DATELINE><BODY>PharmaControl Corp said it
acquired Private Formulations Inc from &lt;Revco D.S. Inc> for six
mln dlrs in cash, a 13,550,000 dlr promissory note and warrants
to buy 200,000 PharmaControl common shares.
    PharmaControl said the purchase price was financed, along
with one mln dlrs in working capital, through secured
institutional financing.
    The company said betweenm 11,550,000 dlrs and 12,550,000
dlrs f the principal amount of the Revco note, plus accrued
interest, is payable June 30. The balance is payable over three
years.
    PharmaControl said it expects to make the payment due to
Revco from proceeds of a proposed offering of units consisting
of convertible subordinated debenturers and common stock
currently on file with the Securities and Exchange Commission.
    Upon closing of the public offering, the company said, it
expects the secured institutional financing to increase to a
total of 12 mln dlrs.
    Private Formulations is primarily engaged in the
manufacture and distribution of vitamins and private label
over-the-counter pharmaceutical products.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6102" NEWID="17764">
<DATE> 1-JUN-1987 15:31:30.97</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2273&#31;reute
f f BC-m*****allied-signal-s   06-01 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>ALLIED-SIGNAL SAID IT SOLD MPB CORP FOR 145 MLN DLRS, ASSUMPTION OF DEBT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6103" NEWID="17765">
<DATE> 1-JUN-1987 15:32:24.41</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2280&#31;reute
r f BC-DEAN-FOODS-&lt;DF>-PICKS   06-01 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>DEAN FOODS &lt;DF> PICKS CHIEF EXECUTIVE</TITLE>
<DATELINE>    FRANKLIN PARK, Ill., June 1 - </DATELINE><BODY>Dean Foods Co said its board
elected Howard M. Dean, the company's president, to succeed
Kenneth J. Douglas as chief executive officer of the firm.
    Kenneth will replace Douglas, who is also chairman, on
October one, Douglas' 65th birthday. Douglas will remain
chairman.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6104" NEWID="17766">
<DATE> 1-JUN-1987 15:32:32.04</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2281&#31;reute
r f BC-FISHER-SHAREHOLDER-IN   06-01 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>FISHER SHAREHOLDER INDECISIVE OVER STOCK BUY</TITLE>
<DATELINE>    BEDFORD HEIGHTS, Ohio, June 1 - </DATELINE><BODY>Fisher Foods Inc &lt;FHR> said
&lt;5300 Richmond Road Corp>, its largest shareholder, has not yet
reached a definitive decision about whether it will buy more
Fisher stock through a possible merger, tender offer or another
acquisition proposal.
    5300 is a Delaware corporation formed by &lt;American Seaways
Foods Inc>, &lt;Rini Holding Co> and &lt;Rego Companies> which owns
1.5 mln shares of Fisher, or about 44 pct of its outstanding
common stock.
    Fisher said 5300 had announced on April 20 that they would
make a decision on June 1 about the move.
    Fisher said 5300 also told it they will continue to explore
possible advantages and disadvantages of various acquisition
proposals.
    5300 also said it is continuing to discuss with various
financial groups about possible financing for such a move, but
gave no indication of when any financing or proposal would be
finalized, Fisher said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6105" NEWID="17767">
<DATE> 1-JUN-1987 15:33:09.66</DATE>
<TOPICS><D>grain</D><D>barley</D></TOPICS>
<PLACES><D>saudi-arabia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2285&#31;reute
f f BC-ussr-export-sale   06-01 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. EXPORTERS REPORT 150,000 TONNES OF  BARLEY SOLD TO SAUDI ARABIA FOR 1987/88-USDA
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6106" NEWID="17768">
<DATE> 1-JUN-1987 15:33:45.47</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>tanzania</D><D>rwanda</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ida</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2287&#31;reute
d f BC-IDA-EXTENDS-37.1-MLN   06-01 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>IDA EXTENDS 37.1 MLN DLRS IN AFRICA LOANS</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>The World Bank said it will provide
37.1 mln dlrs to Tanzania and Rwanda through the International
Development Association (IDA), the bank's concessionary lending
affiliate.
    Tanzania will recieve a 23 mln dlr IDA loan to help
rehabilitate its telecommunications network, the bank said.
    The 14.1 mln dlr IDA loan to Rwanda will help finance
tropical forest conservation projects and a reforestation
program, the bank said.
    The IDA credit is for 50 years, including 10 years of
grace, and carries no interest, the bank said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6107" NEWID="17769">
<DATE> 1-JUN-1987 15:36:08.46</DATE>
<TOPICS><D>grain</D><D>barley</D></TOPICS>
<PLACES><D>usa</D><D>saudi-arabia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2292&#31;reute
b f BC-ussr-export-sale   06-01 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>BARLEY SOLD TO SAUDI ARABIA  - USDA</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>Private exporters reported sales of
150,000 tonnes of barley to Saudi Arabia for delivery in the
1987/88 season, the U.S. Agriculture Deapartment said.
    The 1987/88 season for barley begins today.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6108" NEWID="17770">
<DATE> 1-JUN-1987 15:37:39.38</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2297&#31;reute
u f BC-U.S.-BANCORP-&lt;USBC.O>   06-01 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. BANCORP &lt;USBC.O> HAS ACQUISITION APPROVAL</TITLE>
<DATELINE>    PORTLAND, Ore., June 1 - </DATELINE><BODY>U.S. Bancorp (Oregon) said it has
been advised orally that its application for the acquisition of
Old National Bancorp has been approved by the Board of
Governors of the Federal Reserve.
    The company said it has also been advised that it has
received Fed approvals for its acquisition of Heritage Bank of
Camas, Wash., and for its conversion of its subsidiary, U.S.
Thrift and Loan of Salt Lake City, Utah, into a commercial
bank.
    In January U.S. Bancorp and Old National reached a
definitive agreement covering the acquisition of all the stock
of Old National which it does not already own for 171 mln dlrs.
    U.S. Bancorp currently owns 4.9 pct of Old National's
stock.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6109" NEWID="17771">
<DATE> 1-JUN-1987 15:39:16.49</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>nymex</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f2301&#31;reute
u f BC-MAJOR-U.S.-OIL-PIPELI   06-01 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>MAJOR U.S. OIL PIPELINE SHUT DOWN BY FLOODS</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Flooding in the Red River on the
Texas/Oklahoma border has shut down the Basin Pipeline, a
24-inch pipeline that transports as much as 300,000 barrels per
day of sweet and sour crudes from Texas to Cushing, Okla, a
Texaco Pipeline Co spokesman confirmed.
    "The water is rushing by so fast that we can't get any
divers down to assess the damage but there is some possibility
that the pipeline could be up by the end of the week," a company
source said.
    The pipeline transmits roughly two-thirds sour crude and
one-third sweet crude oil from the Midland, Texas region.
    Texaco sources said that if the pipeline service is
restored by Friday there would be little problem in restoring
oil which has been lost to the flood.
    "But if the pipeline is down more than 10 days it will be
difficult to make up without prorationing and we would not like
to proration this pipeline, if we don't have to."
    The Basin Pipeline is jointly owned by Atlantic Richfield
Corp &lt;ARC>, Shell Oil Co, a subsidiary of the Royal Dutch/Shell
Group &lt;RD> and Texaco Inc &lt;TX>, which is the pipeline's
operator.
     Peter Beutel, analyst at Elders Futures Inc, said crude
oil futures contracts on New York Mercantile Exchange rose to
new highs this afternoon following news of the pipeline break.
    July crude futures of West Texas Intermediate traded up to
19.60 dlrs a barrel, a rise of more than 20 cts.
    Cash market prices also firmed on the news with sellers of
WTI raising offers to 19.60 dlrs a barrel.
    Sour crudes, which would be most affected by the pipeline
shutdown, however, were slow to react to the news with West
Texas Sour and Alaska North Slope holding 50 cts to one dlr a
barrel below WTI, respectively.
    Dan Stevens, manager of public and government affairs at
Texaco, said the company hopes to fix the pipeline in five days
but that will depend on when the water level of the Red River
recedes. There is already evidence that the water level is
dropping and it appears the rain has stopped in the area
affecting the pipeline, Stevens said.
    He said the segment of the pipeline that was damaged was
underground and at a distance from the Red River that flooded.
The pipeline runs over the Red River and under the subsoil
nearby, according to Stevens. He said some of this subsoil was
apparently washed away.
   
    The potential for environmental damage is being downplayed
at this time despite the volume of oil that runs through this
line.
    Texaco's Stevens said that aerial surveillance has not
found any crude on the water in the river or in Lake Texoma,
which is nearby.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6110" NEWID="17772">
<DATE> 1-JUN-1987 15:44:31.60</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2309&#31;reute
r f BC-UNISYS-&lt;UIS>-TO-REDEE   06-01 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>UNISYS &lt;UIS> TO REDEEM 7-1/4 PCT CONVERTIBLES</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Unisys Corp said it will redeem on July
one all of its outstanaing 200 mln dlrs of 7-1/4 pct
convertible subordinated debentures of 2010.
    It will buy back the convertibles at 106.525 pct of 1,000
dlr par value, plus accrued interest.
    Unisys also said it expected that substantially all of the
debentures will be surrendered for conversion into its common
stock. Each 1,000 dlr debenture is convertible into 12.88
shares of common before the close of business on June 26.
    The company the conversion of the debt to equity would
strengthen its capital structure.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6111" NEWID="17773">
<DATE> 1-JUN-1987 15:44:43.22</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2310&#31;reute
r f BC-BRITISH-LAND-OF-AMERI   06-01 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>BRITISH LAND OF AMERICA INC &lt;BLA> YEAR MARCH 31</TITLE>
<DATELINE>    NEW YORK, June 1 -
    </DATELINE><BODY>Shr loss 36 cts vs loss 57 cts
    Net loss 4,589,000 vs loss 7,339,000
    Revs 19.9 mln vs 19.6 mln
    Avg shrs 14.7 mln vs 13.3 mln
    NOTE: Company is a subsidiary of &lt;British Land Co PLC>
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6112" NEWID="17774">
<DATE> 1-JUN-1987 15:46:15.27</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2315&#31;reute
d f BC-FIRST-PHILADELPHIA-UN   06-01 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST PHILADELPHIA UNIT FILES FOR CHAPTER 11</TITLE>
<DATELINE>    PHILADELPHIA, June 1 - </DATELINE><BODY>&lt;First Philadelphia Corp> said its
Computone Systems Inc unit filed a chapter 11 plan for with the
U.S. Bankruptcy Court in Atlanta.
    Subject to confirmation by the court of the plan, the
assets of Computone's two operating divisions would be
transferred to CPX Inc, a wholly-owned subsidiary of First
Philadelphia, the company said.
    First Philadelphia said it is in the process of raising
1,750,000 dlrs to complement it initial investment of 750,000
dlrs to fund the cost of the reorganization and provide ongoing
capital for existing Computone businesses.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6113" NEWID="17775">
<DATE> 1-JUN-1987 15:48:06.12</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2324&#31;reute
b f BC-FORSTMANN-LITTLE-AND   06-01 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>FORSTMANN LITTLE AND CO TO SELL UNIT</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>&lt;Forstman Little and Co> said it plans
to sell its Sybron Corp unit, a leading maker and marketer of
dental and laboratory products, for an undisclosed sum.
    Forstmann Little said it acquired Sybron in February 1986
and since that time Sybron has been substantially restructured,
with new management, lower corporate overhead and a new
location in Saddle Brook, N.J.
    Fortsmann Little said &lt;Goldman Sachs and Co> will act as
its financial advisor for the move. It added that Sybron
expects revenues for the current fiscal year of 242 mln dlrs
with operating income of about 51 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6114" NEWID="17776">
<DATE> 1-JUN-1987 15:53:17.74</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2333&#31;reute
b f BC-TAKEOVER-SPECULATION   06-01 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>TAKEOVER SPECULATION LIFTS HUTTON &lt;EFH> SHARES</TITLE>
<DATELINE>    New York, June 1 - </DATELINE><BODY>E.F. Hutton Group Inc shares rose on
speculation the company would receive a takeover offer, traders
said.
    Hutton's stock also was affected by a newspaper report that
First Boston Corp &lt;FBC> accumulated almost five pct of Hutton's
stock on behalf of an outside client, traders said. Traders
said the story, which appeared in USA Today, added speculation
which began on the street last week. They said there were
rumors the stock was under accumulation and speculation
abounded the company would soon receive an offer. A Hutton
official declined comment. Hutton's stock rose 2-1/4 to 39-3/8.
    Hutton several months ago rejected a buyout offer from
Shearson Lehman Brothers Inc &lt;SHE>. The newspaper story
mentioned speculation American Express Co &lt;AXP>, the parent of
Shearson, was a possible buyer. But traders said the rumors
today did not name buyers. First Boston officials were not
immediatley available for comment.
    Prudential Bache analyst Larry Eckenfelder said he doubted
the speculation about American Express. He said he believed
Hutton, which is occassionally surrounded by rumors, moved up
today as a result of the newspaper article. "Hutton is still a
takeover candidate," said Eckenfelder.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6115" NEWID="17777">
<DATE> 1-JUN-1987 16:02:28.74</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D><D>hong-kong</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2350&#31;reute
u f BC-WRATHER   06-01 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>HONG KONG FIRM UPS WRATHER &lt;WCO> STAKE TO 28 PCT</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>Industrial Equity (Pacific) Ltd, a
Hong Kong investment firm, said it raised its stake in Wrather
Corp to 2,025,850 shares, or 28.1 pct of the total outstanding
common stock, from 1,808,700 shares, or 25.1 pct.
    In a filing with the Securities and Exchange Commission,
Industrial Equity, which is principally owned by Brierley
Investments Ltd, a publicly held New Zealand firm, said it
bought 217,150 Wrather common shares on May 28 and 29 at 20.00
dlrs a share, or 4.3 mln dlrs total.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6116" NEWID="17778">
<DATE> 1-JUN-1987 16:06:03.22</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2357&#31;reute
b f BC-ALLEGIS-&lt;AEG>-FILING   06-01 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>ALLEGIS &lt;AEG> FILING MAY BE LATER THIS WEEK</TITLE>
<DATELINE>    New York, June 1 - </DATELINE><BODY>Allegis Corp may file its plan of
recapitalization with the Securities and Exchange Commission
later this week, a company spokesman said.
    The spokesman also said the company has no comment on
Coniston Partners plan to carry out its solicitation of
consents from shareholders to remove Allegis directors.
    Coniston proposes replacing the board of directors with its
own candidates and then selling off one or more units of
Allegis. Allegis, apparently in response to takeover activity,
announced a sweeping recapitalization plan, which will give
shareholders 60 dlrs per share.
    Allegis shares came under pressure from institutional
selling today. The stock slipped 1-3/8 to 85-1/8 on volume of
more than 1.6 mln shares. Traders said there was also
arbitrage-related buying.
    PaineWebber Group analyst Edward Starkman said institutions
and other long-term holders may want to cash in their gains
instead of waiting for the company's special dividend, which
would be taxed at a higher rate. The recapitalization is
subject to shareholder and other approvals.
    Starkman said he believes Coniston may still have a chance
to win the battle for control of Allegis' board room, despite
the recapitalization plan.
    Coniston Partners would not comment on the recapitalization
plan.
    "We said a week ago, and we say it again today that the way
to maximize value for shareholders is to see these companies
traded as independent companies," said Keith Gollust, one of
the partners.
    Allegis owns United Air Lines, Hertz rental cars, and
Westin and Hilton International hotels.
    Allegis' recapitalization plan does not entail the sale of
any of those businesses, which its management claims are
necessary to its travel services strategy. The recapitalization
plan would add three billion dlrs in debt to its balance sheet.
    Some Wall Street analysts believe such a move could be
risky since the airline, as well as other travel businesses,
are dependant on the strength of the economy.
    "They've become sort of a super cyclical company," Starkman
said. The hotels and car rental business represents "no
diversification. It just makes it worse."
    Traders and analysts who believe Coniston's effort may have
a chance believe that Allegis management is not giving
shareholders full value. After receiving the dividend,
shareholders will still hold their stock. Arbitragers and
analysts valued the recapitalization in the upper 80s to 100
dlrs per share.
    Breakup values for the company estimated on Wall Street
exceed 110 dlrs per share.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6117" NEWID="17779">
<DATE> 1-JUN-1987 16:06:38.25</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2358&#31;reute
r f BC-BRITISH-AIRWAYS-&lt;BAB> SCHEDULED  06-01 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>BRITISH AIRWAYS &lt;BAB> SEES SMOOTH TRANSITION</TITLE>
<AUTHOR>    By Philip Barbara, Reuters</AUTHOR>
<DATELINE>    CHICAGO, June 1 - </DATELINE><BODY>British Airways is looking forward to
industry deregulation in Europe and believes it will be a
smoother transition than the turmoil that followed the opening
of the U.S. skies, its chief executive said.
    Colin Marshall told Reuters that Europe will phase in
deregulation gradually to avoid the problems created in the
U.S. in the late 1970s -- fast growth, unstable fares, new
carriers that went bankrupt and ultimately years of losses for
even the largest airlines.
    "In Europe we have the benefit of learning from the
American experience," Marshall said. "When you add that to the
conservative nature of the Europeans, it amounts to an approach
that is slower and more cautious."
    Airline liberalization, as it is called, must first be
approved by the transportation ministers of the European
Community nations. This could come this month when the
ministers meet to take it up, Marshall said in an interview
during a U.S. visit to talk to airline industry analysts.
    "As the largest airline in Europe, and with the
sophisticated computer systems we have to help us with yield
and load factors management, I think we have a very good
chance, if not the best chance, of doing well in a liberalized
situation in Europe," Marshall said.
    Airline market deregulation in Europe will open up new
routes between European countries, allow established carriers
to grow and permit new airlines to begin operations.
    It will also free airlines to fly more seats on any given
route -- something that is highly regulated now -- and to base
fares on market forces. Discount fares in Europe might even
become more widespread.
    "We think liberalization will help stimulate traffic,"
Marshall said.
    Lower fares have been offered by British carriers since
domestic services in Britain were deregulated in 1984, he said.
But passengers taking return flights or from other countries
pay higher, regulated prices.
    Marshall said deregulation will spawn more European
airlines, possibly to be followed by a spate of mergers, as is
happening in the United States.
    Two airlines, Sabena and Scandinavian Airlines System
(SAS), are now discussing a merger. Their success "might open
up Europe to further merger activity," he said.
    This is because an SAS-Sabena merger could be a test case
to determine whether countries are willing to allow landing
rights to be transferred from one carrier to another, he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6118" NEWID="17780">
<DATE> 1-JUN-1987 16:08:12.97</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A Y RM
&#22;&#22;&#1;f2360&#31;reute
u f AM-GULF-STUDY   06-01 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>CONGRESSMAN SAYS U.S. UNPREPARED FOR OIL CUTOFF</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>Rep. Mike Synar said today that while
President Reagan is ready to use military force to protect
Kuwait tankers in the Gulf, the United States is ill-prepared
at home to deal with a new energy crisis.
    Synar, Democrat of Oklahoma, made his remarks in comments
on a study by the General Accounting Office (GAO) on the U.S.
participation in the 1985 test of the emergency oil sharing
program of the International Energy Agency.
    The IEA, an alliance of 21 oil consuming countries, was
formed after the 1973-74 Arab oil embargo to find ways to deal
with any future oil cutoff.
    Synar said, "the president is prepared to take military
action to protect Kuwaiti oil tankers but has been unwilling to
take less dangerous, equally-important action to prepare our
nation for the next energy crisis."
    Reagan said the U.S. military would protect Kuwaiti oilers
to assure the West of a continuing supply of Middle East oil,
increasingly being threatened by the Iranian-Iraqi war. Synar,
who asked for the GAO report after criticism of U.S. action in
a previous IEA test, said the United States successfully
advocated a test limited to training participants in oil
sharing procedures and the system's mechanical aspects.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6119" NEWID="17781">
<DATE> 1-JUN-1987 16:11:00.35</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2363&#31;reute
u f BC-ANHEUSER-BUSCH-&lt;BUD>   06-01 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>ANHEUSER-BUSCH &lt;BUD> UNIT CHANGES PLANT SITE</TITLE>
<DATELINE>    ST. LOUIS, MO., June 1 - </DATELINE><BODY>Anheuser-Busch Companies Inc said
its Metal Container Corp subsidiary will build its planned
beverage can manufacturing plant in Orange County, New York
instead of Chester, New York.
    The site was changed because Metal Container was unable to
obtain necessary building permits within its construction
schedule requirements, it said.
    The proposed plant, which is expected to be completed in
late 1988, will produce aluminum spin-neck cans and have an
operating capacity of more than two billion cans a year, it
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6120" NEWID="17782">
<DATE> 1-JUN-1987 16:14:08.68</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2370&#31;reute
u f BC-ALLIED-SIGNAL-&lt;ALD>-C   06-01 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>ALLIED-SIGNAL &lt;ALD> COMPLETES SALE OF MPB CORP</TITLE>
<DATELINE>    MORRIS TOWNSHIP, N.J., June 1 - </DATELINE><BODY>Allied-Signal Inc said it 
completed the sale of its MPB Corp unit to Bearing Acquisition
Corp for 145 mln dlrs plus assumption of certain MPB
liabilities.
    Headquartered in Keene, N.H., MPB designs and makes
precision ball and roller bearings used in aerospace, ordnance
and computer applications. Allied-Signal said the unit had 1986
sales of over 90 mln dlrs.
    It noted the sale to newly formed Bearing Acquisition was
announced May 18.
   
    Allied-Signal said Bearing Acquisition is a newly-formed
corporation owned by an investors group organized by Harold S.
Geneen and Donaldson Lufkin and Jenrette Securities Corp.
    Wells Fargo Bank provided senior debt financing to Bearing
Acquisition and Donaldson Lufkin and Jenrette provided bridge
financing in the form of subordinated notes, preferred stock
and common stock in an amount sufficient to fund the purchase
price, Allied-Signal added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6121" NEWID="17783">
<DATE> 1-JUN-1987 16:14:39.33</DATE>
<TOPICS><D>lead</D><D>zinc</D><D>strategic-metal</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f2371&#31;reute
r f BC-COMINCO-&lt;CLT.TO>-SEES   06-01 0135</UNKNOWN>
<TEXT>&#2;
<TITLE>COMINCO &lt;CLT.TO> SEES MEETING WITH STRIKING UNION LOCALS</TITLE>
<DATELINE>    TRAIL, British Columbia, June 1 - </DATELINE><BODY>Cominco Ltd said it
expects to meet today with two of five United Steelworkers of
America locals on strike at its Trail smelter and Kimberley,
B.C. lead-zinc mine, a Cominco spokesman said.
    It had no meeting scheduled with the other three striking
locals, which rejected a tentative three-year contract
Saturday, Cominco spokesman Richard Fish said.
    Fish said the pact that was rejected contained a cost of
living increase tied to the Canadian consumer price index, but
no wage increase. With 81 pct of the membership voting, 54.5
pct voted no and 45.5 pct voted yes, the union said.
    The three locals represent about 2,600 production and
maintenance workers, while the remaining two locals cover about
600 office and technical workers.
    The office and technical workers last negotiated May 21.
Production at Trail and Kimberley has been shut down since the
strike began May 9 and Cominco has had to declare force
majeure, which means the company may be unable to honor
contracts for products from the smelter and mine.
    Each of the five locals have separate contracts, all of
which expired April 30, but the main issues are similar.
    The Trail smelter, about 400 miles east of Vancouver,
produced 240,000 long tons of zinc and 110,000 long tons of
lead last year. The Sullivan mine at Kimberley, about 450 miles
east of Vancouver, produced 2.2 mln long tons of ore last year,
most for processing at the Trail smelter.
    The smelter also produced cadmium, bismuth and indium.
    Trail smelter revenue was 356 mln Canadian dlrs in 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6122" NEWID="17784">
<DATE> 1-JUN-1987 16:16:24.25</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2380&#31;reute
u f BC-NATIONAL-DISTILLERS   06-01 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>BASS GROUP CUTS NATIONAL DISTILLERS &lt;DR> STAKE</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>An investor group led by members of
the Bass family of Fort Worth, Texas, said it lowered its stake
in National Distillers and Chemical Corp to 1,159,400 shares,
or 3.6 pct of the total common, from 1,727,200, or 5.3 pct.
    In a filing with the Securities and Exchange Commission,
the Bass group said it sold 567,800 National Distillers common
shares between May 15 and 29 at prices ranging from 59.94 to
63.44 dlrs a share.
    As long as the group's stake is below five pct, it is not
required to disclose its further dealings in National
Distillers' common stock.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6123" NEWID="17785">
<DATE> 1-JUN-1987 16:16:57.46</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2383&#31;reute
u f BC-BUCKEYE   06-01 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>REPUBLIC AMERICAN&lt;RAWC.O> UPS BUCKEYE&lt;BPL> STAKE</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>Republic American Corp told the
Securities and Exchange Commission it raised its stake in
Buckeye Partners L.P. to 963,200 limited partnership units, or
8.0 pct of the total, from 744,200 units, or 6.2 pct.
    Republic, which is controlled by Cincinnati, Ohio,
financier Carl Lindner and his American Financial Corp, said it
bought 219,000 Buckeye units between May 14 and 22 at prices
ranging from 22.49 to 23.02 dlrs each, or about 5.0 mln dlrs
total.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6124" NEWID="17786">
<DATE> 1-JUN-1987 16:18:54.74</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2385&#31;reute
r f BC-UNIVERSAL-HEALTH-&lt;UHT   06-01 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>UNIVERSAL HEALTH &lt;UHT> TO BUY BACK SHARES</TITLE>
<DATELINE>    KING OF PRUSSIA, Pa., June 1 - </DATELINE><BODY>Universal Health Realty
Income Trust said its board approved the repurchase over the
next 12 months of up to one mln shares of beneficial interest
of the trust in the open market or subject to obtaining
necessary financing.
    Universal also declared a regular quarterly dividend of 33
cts a share payable June 30 to shareholdres or record June 15.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6125" NEWID="17787">
<DATE> 1-JUN-1987 16:19:37.52</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2388&#31;reute
d f BC-KINGSBRIDGE,-MASCO-SE   06-01 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>KINGSBRIDGE, MASCO SET MERGER</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Kingsbridge Holdings Ltd, said it signed
a letter of intent for a merger with &lt;Masco Sports Inc>.
    The transaction calls for 230 mln sahres of Kingsbridge
common stock to be issued to shareholders of Masco.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6126" NEWID="17788">
<DATE> 1-JUN-1987 16:21:03.56</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2392&#31;reute
r f BC-INTERNATIONAL-CORONA   06-01 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>INTERNATIONAL CORONA &lt;ICR.TO> 2ND QTR NET</TITLE>
<DATELINE>    TORONTO, June 1 - </DATELINE><BODY>Period ended March 31
    Oper shr profit four cts vs loss 17 cts
    Oper net profit 584,000 vs loss 2,165,000
    Revs 7,493,000 vs not given
    SIX MTHS
    Oper shr profit eight cts vs loss 14 cts
    Oper net profit 1,177,000 vs loss 1,778,000
    Revs 14.8 mln vs not given.
   
 reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6127" NEWID="17789">
<DATE> 1-JUN-1987 16:21:11.65</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2393&#31;reute
r f BC-PEPSICO-&lt;PEP>-CHICKEN   06-01 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>PEPSICO &lt;PEP> CHICKEN UNIT COMMITS 40 MLN DLRS</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Pepsico Inc's Kentucky Fried Chicken
said it has committed 40 mln dlrs over the next 90 days to
introduce a major new product category.
    The company said it is introducing Chicken Littles, a
chicken patty sandwich served on a soft dinner roll, which will
sell for 39 cts.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6128" NEWID="17790">
<DATE> 1-JUN-1987 16:21:18.83</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F C
&#22;&#22;&#1;f2394&#31;reute
r f BC-RALSTON-PURINA-&lt;RAL>   06-01 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>RALSTON PURINA &lt;RAL> FORMS BRANDED FOODS GROUP</TITLE>
<DATELINE>    ST. LOUIS, MO., June 1 - </DATELINE><BODY>Ralston Purina Co said it formed a
new branded foods group to align all of its warehouse-delivered
human foods.
    W. Patrick McGinnis, formerly executive vice president of
the company's grocery products division, was named president of
the new group and will report to W.P. Stiritz, Ralston's
chairman.
                                         
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6129" NEWID="17791">
<DATE> 1-JUN-1987 16:21:47.93</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2395&#31;reute
r f BC-ROYEX-GOLD-MINING-&lt;RG   06-01 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>ROYEX GOLD MINING &lt;RGM.TO> 2ND QTR MARCH 31 NET</TITLE>
<DATELINE>    TORONTO, June 1 -
    </DATELINE><BODY>Oper shr loss three cts vs loss one ct
    Oper net loss 1,796,000 vs loss 381,000
    Revs 2,501,000 vs 2,695,000
    SIX MTHS
    Oper shr loss eight cts vs loss four cts
    Oper net loss 3,235,000 vs loss 1,123,000
    Revs 4,850,000 vs 4,551,000
    Note: 1987 net excludes 2nd qtr extraordinary gain of 87
mln dlrs or 1.54 dlrs shr from sale of 51 pct stake of Mascot
Gold Mines Ltd &lt;MSG.TO>. Full name Royex Gold Mining Corp.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6130" NEWID="17792">
<DATE> 1-JUN-1987 16:22:28.10</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2396&#31;reute
f f BC-******DRESSER-INDUSTR   06-01 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>DRESSER INDUSTRIES INC TO SELL RELIANCE STANDARD LIFE INSURANCE TO ROSENKRANZ UNIT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6131" NEWID="17793">
<DATE> 1-JUN-1987 16:22:42.79</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2397&#31;reute
h f BC-SEABROOK-NUCLEAR-STAT   06-01 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>SEABROOK NUCLEAR STATION OWNERS SET ADVERTISING</TITLE>
<DATELINE>    SEABROOK, N.H., June 1 - </DATELINE><BODY>Public Service Co of New Hampshire
&lt;PNH> said the owners of the Seabrook nuclear power plant
approved a 1.2 mln dlr advertising campaign to inform the
public about the plant's safe construction.
    The campaign make a point that nuclear power provides
one-third of New England's electricity and Seabrook is the
ninth nuclear plant in the six-state region.
    Operation of the plant has been delayed by the reluctance
of officials in neighboring Massachusets to participate in
evacuation drills. New Hampshire Public Service is operator of
the plant and has a 35.6 pct interest in the facility.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6132" NEWID="17794">
<DATE> 1-JUN-1987 16:23:12.47</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2399&#31;reute
f f BC-******U.S.-SELLS-3-MO   06-01 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. SELLS 3-MO BILLS AT 5.81 PCT, STOP 5.82 PCT, 6-MO 6.10 PCT, STOP 6.11 PCT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6133" NEWID="17795">
<DATE> 1-JUN-1987 16:23:19.73</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2400&#31;reute
d f BC-DIANA-CORP-&lt;DNA>-YEAR   06-01 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>DIANA CORP &lt;DNA> YEAR MARCH 28 OPER NET</TITLE>
<DATELINE>    MILWAUKEE, WIS., June 1 - 
    </DATELINE><BODY>Oper shr 74 cts vs 30 cts
    Oper net 3,034,000 vs 1,225,000
    NOTE: 1987 operating net excludes credits of 1,043,000 dlrs
or 25 cts a share.
    1986 operating net excludes discontinued operations of
84,000 dlrs or two cts, and extraordinary charges of 1,119,000
dlrs or a loss of 27 cts.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6134" NEWID="17796">
<DATE> 1-JUN-1987 16:23:29.08</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2401&#31;reute
u f BC-AMERICAN-REALTY-&lt;ARB>   06-01 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN REALTY &lt;ARB> RIGHTS OVERSUBSCRIBED</TITLE>
<DATELINE>    DALLAS, June 1 - </DATELINE><BODY>American Realty Trust said
oversubscription pool requests received in a recent rights
offering were in excess of five mln shares.
    As a result, all 12.1 mln shares offered will be issued,
and the trust will receive additional equity of over 45 mln
dlrs. Under the offering, the Trust distributed to shareholders
rights to acquire beneficial interest at 3.75 dlrs per share .
    Its largest shareholder, Southmark Corp &lt;SM> delivered most
of its rights to shareholders as a special dividend, reducing
its share ownership to 42 pct from 84 pct, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6135" NEWID="17797">
<DATE> 1-JUN-1987 16:23:41.45</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2402&#31;reute
d f BC-WITCO-&lt;WIT>-UNIT-OPEN   06-01 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>WITCO &lt;WIT> UNIT OPENS FAST-OIL CHANGE CENTER</TITLE>
<DATELINE>    IRVING, Texas, June 1 - </DATELINE><BODY>Kendall Refining Co, a unit of
Witco Corp, and the &lt;Knox Truck Stop> chain, said they have
developed one of the nation's first fast-oil-change centers
for trucks outside of Dallas.
    The service, called Fast Lube, offers a 60-minute oil
change and inspection service for trucks and also involves a
used-oil analysis program that relays engine information to the
driver's fleet headquarters, the companies said.
    According to the companies, fast-oil-change centers are
expected to grow from the current three pct of the oil
lubrication market to 15 pct by 1990.
   
    In addition, Kendall said it recently launched a national
Fast Lube program with &lt;Avis Inc> that provides participating
Avis Lube franchises with lubricants, equipment and marketing
support.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6136" NEWID="17798">
<DATE> 1-JUN-1987 16:24:28.54</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2404&#31;reute
d f BC-WYSE-&lt;WYSE.O>-TO-GET   06-01 0051</UNKNOWN>
<TEXT>&#2;
<TITLE>WYSE &lt;WYSE.O> TO GET LINK TECHNOLOGIES</TITLE>
<DATELINE>    SAN JOSE, Calif., June 1 - </DATELINE><BODY>Wyse Technology said it agreed
in principle to acquire privately-held Link Technologies Inc in
exchange for an undisclosed amount of Wyse Technology shares.
    Link Technologies develops and markets computer terminals,
Wyse also said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6137" NEWID="17799">
<DATE> 1-JUN-1987 16:24:49.19</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2405&#31;reute
d f BC-LTV-&lt;QLTV>-GETS-CONTR   06-01 0055</UNKNOWN>
<TEXT>&#2;
<TITLE>LTV &lt;QLTV> GETS CONTRACT</TITLE>
<DATELINE>    DALLAS, June 1 - </DATELINE><BODY>LTV Corp's LTV Aircraft Products Group
said it was awarded a contract valued at more than 10 mln dlrs
to continue production of engine covers and thrust reversers
for the Challenger 601-3A executive business jet.
    the aircraft is manufactured by Canadair Ltd. of Montreal,
it said.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6138" NEWID="17800">
<DATE> 1-JUN-1987 16:25:18.51</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2406&#31;reute
d f BC-&lt;LINCOLN-BANCORP>-FIL   06-01 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;LINCOLN BANCORP> FILES FOR PUBLIC OFFERING</TITLE>
<DATELINE>    ENCINO, Calif., June 1 - </DATELINE><BODY>Lincoln Bancorp said it filed a
registration statement with the Securities and Exchange
Commission covering a proposed public offering of one mln
common shares at an estimated offering price of between eight
and nine dlrs per share.
    The company said First of Michigan Corp will manage the
underwriting.
    It said proceeds will be used for general corporate
purposes and for expansion.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6139" NEWID="17801">
<DATE> 1-JUN-1987 16:26:03.13</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2408&#31;reute
d f BC-PUEBLO-&lt;PII>-TO-REPUR   06-01 0040</UNKNOWN>
<TEXT>&#2;
<TITLE>PUEBLO &lt;PII> TO REPURCHASE SHARES</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Pueblo International Inc, a supermarket
operator, said it bought 75,000 shares last week in two
separate transactions from unrelated shareholders as part of
its share buy back program.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6140" NEWID="17802">
<DATE> 1-JUN-1987 16:26:23.77</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2410&#31;reute
h f BC-MCLAIN-INDUSTRIES-INC   06-01 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>MCLAIN INDUSTRIES INC &lt;MCCL.O> 2ND QTR MARCH 31</TITLE>
<DATELINE>    STERLING HEIGHTS, Mich., June 1 -
    </DATELINE><BODY>Shr 11 cts vs 13 cts
    Net 234,326 vs 266,653
    Revs 5.5 mln vs 5.8 mln
    Six months
    Shr 21 cts vs 31 cts
    Net 445,509 vs 646,978
    Revs 9.4 mln vs 10.8 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6141" NEWID="17803">
<DATE> 1-JUN-1987 16:27:08.93</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2412&#31;reute
u f BC-MYERS-TO-HEAD-U.S.-PA   06-01 0146</UNKNOWN>
<TEXT>&#2;
<TITLE>MYERS TO HEAD U.S. PARTY TO WORLD FOOD COUNCIL</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>Peter Myers, Deputy Secretary of
Agriculture will head the U.S. delegation to the World Food
Council's Thirteenth Ministerial in Peking, China June 8-11,
the U.S. Agriculture Department said.
    The discussions will center on four issues -- the global
state of hunger and malnutrition and the impact of economic
adjustment on food and hunger problems, the impact of
international agricultural trade and related national policies
on food and development, regional cooperation in food and
agriculture among developing nations in the Southern
hemisphere, and activities of multilateral assistance agencies
aimed at reducing hunger.
    The World Food Council is a 36-country United Nations body,
which recommends how governments and international
organizations can work together to alleviate world hunger.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6142" NEWID="17804">
<DATE> 1-JUN-1987 16:29:21.63</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>australia</D><D>spain</D><D>new-zealand</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2418&#31;reute
d f BC-MORINO-&lt;MOAI.O>-EXPAN   06-01 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>MORINO &lt;MOAI.O> EXPANDS INTERNATIONAL MARKETING</TITLE>
<DATELINE>    VIENNA, Va., June 1 - </DATELINE><BODY>Morino Associates Inc said it
established a new business unit to establish its presence in
Australia, New Zealand, Spain, South and Central AMerica,
Africa, Middle East and the Far East.
    The new unit will explore opportunities for the
establishment of marketing agreements that address secondary
markets for the company's technology and will evaluate
opportunities in Japan, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6143" NEWID="17805">
<DATE> 1-JUN-1987 16:30:12.09</DATE>
<TOPICS><D>lead</D><D>zinc</D><D>strategic-metal</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f2419&#31;reute
r f BC-COMINCO-&lt;CLT.TO>-SEES   06-01 0139</UNKNOWN>
<TEXT>&#2;
<TITLE>COMINCO SEEKS MEETING WITH STRIKING UNION LOCALS</TITLE>
<DATELINE>    TRAIL, British Columbia, June 1 - </DATELINE><BODY>Cominco Ltd said it
expects to meet today with two of five United Steelworkers of
America locals on strike at its Trail smelter and Kimberley,
B.C. lead-zinc mine, a Cominco spokesman said.
    It had no meeting scheduled with the other three striking
locals, which rejected a tentative three-year contract
Saturday, Cominco spokesman Richard Fish said.
    Fish said the pact that was rejected contained a cost of
living increase tied to the Canadian consumer price index, but
no wage increase. With 81 pct of the membership voting, 54.5
pct voted no and 45.5 pct voted yes, the union said.
    The three locals represent about 2,600 production and
maintenance workers, while the remaining two locals cover about
600 office and technical workers.
    The office and technical workers last negotiated May 21.
Production at Trail and Kimberley has been shut down since the
strike began May 9 and Cominco has had to declare force
majeure, which means the company may be unable to honor
contracts for products from the smelter and mine.
    Each of the five locals have separate contracts, all of
which expired April 30, but the main issues are similar.
    The Trail smelter, about 400 miles east of Vancouver,
produced 240,000 long tons of zinc and 110,000 long tons of
lead last year. The Sullivan mine at Kimberley, about 450 miles
east of Vancouver, produced 2.2 mln long tons of ore last year,
most for processing at the Trail smelter.
    The smelter also produced cadmium, bismuth and indium.
    Trail smelter revenue was 356 mln Canadian dlrs in 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6144" NEWID="17806">
<DATE> 1-JUN-1987 16:32:08.07</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2421&#31;reute
r f BC-TOYOTA-SAYS-IT-ONLY-S   06-01 0118</UNKNOWN>
<TEXT>&#2;
<TITLE>TOYOTA SAYS IT ONLY STUDYING LUXURY UNIT PLANS</TITLE>
<DATELINE>    DETROIT, June 1 - </DATELINE><BODY>Toyota Motor Co's &lt;TOYO.T> U.S. sales
subsidiary said it has been studying the possibility of forming
a new division to market upscale cars, but denied a published
report that it would announce a startup decision this year.
    Toyota spokesman Jerry Giaquinta told Reuters: "All we're
saying at this point is we'be been studying the luxury,
performance segment and no final decision has been made on
whether to enter it or which or several options to follow."
    The trade paper Automotive News reported in this week's
edition that Toyota will announce such a  division in a move
similar to rival Honda Motor Co's &lt;HMC> Acura car division.
    The Toyota spokesman said, "The Automotive News article is
based on speculative assumptions."
    The paper said Toyota has already identified 100 key
dealers who would be offered the "unnamed new franchise" that
would open in the 1989 model year with "three
luxury-performance car lines."
    It also said the new Toyota luxury line would have prices
likely to start arpund 16,000 dlrs and going to the
"high-20,000-dlr range" to appeal to buyers of European and
American luxury buyers.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6145" NEWID="17807">
<DATE> 1-JUN-1987 16:32:48.30</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A RM
&#22;&#22;&#1;f2423&#31;reute
f f BC-******MOODY'S-AFFIRMS   06-01 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>MOODY'S AFFIRMS MIDDLE SOUTH AND UNITS, AFFECTS FOUR BILLION DLRS OF DEBT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6146" NEWID="17808">
<DATE> 1-JUN-1987 16:34:12.74</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2428&#31;reute
u f BC-PHILLIPS-VAN-HEUSEN-C   06-01 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILLIPS-VAN HEUSEN CORP &lt;PVH> 1ST QTR</TITLE>
<DATELINE>    NEW YORK, June 1 -
    </DATELINE><BODY>Shr 73 cts vs 60 cts
    Net 4.6 mln vs 3.8 mln
    Revs 112.8 mln vs 104.1 mln
    NOTE:1987 includes lifo charge of 1.5 mln dlrs, pension
expenses declined by 879,000 dlrs due to change in accounting,
interest decreased by 382,000 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6147" NEWID="17809">
<DATE> 1-JUN-1987 16:36:35.17</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2435&#31;reute
u f BC-DRESSER-&lt;DI>-TO-SELL   06-01 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>DRESSER &lt;DI> TO SELL UNIT TO ROSENKRANZ AND CO</TITLE>
<DATELINE>    DALLAS, June 1 - </DATELINE><BODY>Dresser Industries Inc said it signed a
definitive agreement to sell its Reliance Standard Life
Insurance Co to RSL Holding Co Inc., a subsidiary of the
privately-held, New York-based investment firm of Rosenkranz
and Co.
    Terms were not undisclosed. Philadelphia-based Reliance
earned 25.3 mln dlrs on sales of 201.6 mln dlrs in 1986.
    Dresser said it will use the proceeds from the sale for
stock repurchases, debt reduction, and possibly complementary
acquisitions in the field of engineered products and services
for energy producers.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6148" NEWID="17810">
<DATE> 1-JUN-1987 16:36:58.12</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2436&#31;reute
u f BC-ATCOR&lt;ATCO.O>-SEEKS-B   06-01 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>ATCOR&lt;ATCO.O> SEEKS BUYERS FOR CONSUMER BUSINESS</TITLE>
<DATELINE>    CHICAGO, June 1 - </DATELINE><BODY>Atcor Inc said that Roth-American Inc,
which had signed a letter of intent on May 1 to acquire its
Turco and Charmglow operations of its consumer products
segment, has decided against buying Charmglow.
    While Roth-American said it is still interested in
acquiring Turco, Atcor said it is now reviewing its options
with other potential buyers who have expressed interest in its
consumer products businesses.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6149" NEWID="17811">
<DATE> 1-JUN-1987 16:37:10.24</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2437&#31;reute
h f BC-INTERNATIONAL-CONSUME   06-01 0030</UNKNOWN>
<TEXT>&#2;
<TITLE>INTERNATIONAL CONSUMER BRANDS &lt;ICBI.O> 1ST QTR</TITLE>
<DATELINE>    WESTPORT, Conn, June 1 -
    </DATELINE><BODY>Shr profit one cts vs loss three cts
    Net profit 68,607 vs loss 183,893
    Revs 4.2 mln vs 602,665
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6150" NEWID="17812">
<DATE> 1-JUN-1987 16:40:11.27</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2445&#31;reute
u f BC-USPCI-&lt;UPC>-SEEN-REJE   06-01 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>USPCI &lt;UPC> SEEN REJECTING UNION PACIFIC BID</TITLE>
<DATELINE>    CHICAGO, June 1 - USPCI Inc likely will reject a 43-dlr-a-</DATELINE><BODY>share bid made last Wednesday by Union Pacific Corp (UNP), 
analysts said.
    "The offer is inadequate," said Douglas Augenthaler, an
analyst with E.F. Hutton, noting that it does not represent the
needed premium over the company's fundamental value based on
earnings estimates.
    USPCI, which has 8.7 mln shares outstanding, was trading at
48-1/8, down 3/8.
    USPCI vice president of finance Larry Shelton said he could
not comment on the adequacy of the offer or on when the board
would meet to consider it.
    Augenthaler said that while USPCI was trading at only 34
dlrs a share at the time of the takeover bid, its announcement
that same day of higher earnings expectations changed its
value. USPCI said its second quarter earnings would exceed
analysts expectations of 24 to 30 cts a share.
    At that price, USPCI could maintain a stock price in the
low 40s, Augenthaler said.
    Hutton revised its 1987 earnings estimate for the waste
management concern to 1.40 dlrs a share from 1.20 dlrs on the
announcment, he said. It lifted its 1988 projection to 1.90
dlrs a share from 1.70 dlrs.
    In addition, analysts said the hazardous waste management
business holds significant growth potential. The industry has
grown from 16 to 35 pct over the last five years, based on
earnings per share, said Jeffrey Klein, an analyst with Kidder
Peabody and Co. The industry is expected to continue growing at
15 to 35 pct over the next five years, he said.
    Augenthaler said the 43-dlr-a-share offer, or 375 mln dlrs
total, would be a bargain for Union Pacific. The transportation
and energy company would both gain entry into a profitable
business and win cost-control benefits, he said.
    "Union Pacific has what are rumored to be some fairly
signficant environmmental problems of its own," he said.
    Herb Mee Jr., president of Beard Oil Co (BEC), which holds
a 30.4 pct stake in USPCI, said last week Union Pacific's offer
was "grossly inadequate."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6151" NEWID="17813">
<DATE> 1-JUN-1987 16:41:36.49</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f2450&#31;reute
r f BC-TOTAL-PETROLEUM-&lt;TPN>   06-01 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>TOTAL PETROLEUM &lt;TPN> SHUTS TEXAS PIPELINES</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Total Petroleum NA &lt;TPN> shut down
several small crude oil pipelines operating near the
Texas/Oklahoma border last Friday as a precaution against
damage from local flooding, according to Gary Zollinger,
manager of operations.
    Total shut a 12-inch line that runs across the Ouachita
River from Wynnewood to Ardmore with a capacity of 62,000 bpd
as well as several smaller pipelines a few inches wide with
capacities of several thousand bpd or less, Zollinger said.
    The Basin Pipeline, a major pipeline running 300,000 bpd,
run by a consortium of other oil companies, was closed today.
    One other small pipeline that Total also closed has a
capacity of 3,000 to 4,000 bpd and crosses the Red River in
Fargo, Texas, Zollinger said.
    He said the closed pipelines run under river water and
could be damaged as the flooded rivers erode the river banks
and expose the piping.
    Zollinger said Total is waiting for the river waters to
recede before they reactivate the pipelines.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6152" NEWID="17814">
<DATE> 1-JUN-1987 16:43:14.79</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2454&#31;reute
u f BC-B.C.-WORKERS-STAGE-ON   06-01 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>B.C. WORKERS STAGE ONE-DAY GENERAL STRIKE</TITLE>
<DATELINE>    VANCOUVER, June 1 - </DATELINE><BODY>Thousands of British Columbian
unionized workers staged a one-day general strike to protest
proposed new provincial labor legislation.
    Ferry service was halted, there was no garbage collection,
government offices were closed and some medical services were
restricted. Postal workers, although covered by federal laws,
refused to cross picket lines.
    In Vancouver, transit workers also joined in the protest
and no buses operated. Management, however, kept the city's
SkyTrain service in operation.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6153" NEWID="17815">
<DATE> 1-JUN-1987 16:43:55.74</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2457&#31;reute
f f BC-******GM-MAY-N.-AMERI   06-01 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>GM MAY N. AMERICAN CAR OUTPUT 328,221, OFF 26.3 PCT FROM 445,440 LAST YEAR
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6154" NEWID="17816">
<DATE> 1-JUN-1987 16:44:05.56</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f2458&#31;reute
r f BC-DOE-REACHES-PROPOSED   06-01 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>DOE REACHES PROPOSED OIL SETTLEMENTS</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>The Energy Department said it reached
proposed oil pricing settlements totaling 680,150 dlrs with the
operator and four working interest owners of A.D. LeBlanc No. 1
well, Vermillion Parish, La.
    Trigon Exploration Co., Inc operated the well from June
1979 to January 1981 for D. Bryan Ferguson, C. William Rogers,
Omni Drilling Partnership No 1978-2 and Entex Inc.
    DOE alleged Trigon caused overcharges of 624,208 dlrs by
improperly classifying its oil as "newly discovered crude," a
classification that allowed charging higher prices during a
period of price controls.
    It said the proposed settlements would resolve disputes
over possible violations by the five parties. DOE added that in
agreeing to the settlements, the five did not admit any
violations or non-compliance with its regulations.
    It said it would receive written comments on the
settlements before making it final.
 reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6155" NEWID="17817">
<DATE> 1-JUN-1987 16:44:33.61</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>cme</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f2460&#31;reute
r f BC-CME-PROPOSES-NIKKEI-S   06-01 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>CME PROPOSES NIKKEI STOCK AVERAGE FUTURES</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>The Chicago Mercantile Exchange (CME)
has proposed a futures contract based on the Nikkei Stock
Average, a price-weighted index of 225 stocks on the Tokyo
Stock Exchange, federal regulators said.
    The Commodity Futures Trading Commission (CFTC) said CME's
proposed contract is designed to be used as a hedging tool for
dealers and investors in Japanese equities.
    The contract's unit of trading would be 500 Japanese yen
times the Nikkei index, CFTC said. The minimum price
fluctuation would be 2,500 yen, with no daily price limits.
    Public comment on the proposal is due by July 28.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6156" NEWID="17818">
<DATE> 1-JUN-1987 16:44:54.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM F
&#22;&#22;&#1;f2461&#31;reute
b f BC-MOODY'S-REVIEWS-HOSPI   06-01 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>MOODY'S REVIEWS HOSPITAL CORP &lt;HCA> DEBT</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Moody's Investors Service Inc said it
put Hospital Corp of America's nearly three billion dlrs of
long-term debt under review with uncertain direction.
    Under review are the A-2 senior debt, A-3 convertible
subordinated debt and Prime-2 commercial paper ratings.
    Moody's cited the firm's planned sale of 104 U.S.-based
hospitals to an employee stock ownership plan. The cost would
be 1.8 billion dlrs in cash plus preferred stock and warrants.
    Moody's expects favorable credit implications if the sale
includes low-profit hospitals. Reducing Hospital's financial
leverage will be needed to maintain credit quality, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6157" NEWID="17819">
<DATE> 1-JUN-1987 16:46:21.32</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2465&#31;reute
f f BC-******CHRYSLER-MAY-N.   06-01 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CHRYSLER MAY N. AMERICAN CAR OUTPUT 94,715, OFF 12.8 PCT FROM 108,595 LAST YEAR
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6158" NEWID="17820">
<DATE> 1-JUN-1987 16:54:59.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>cme</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2496&#31;reute
r f BC-CME-PROPOSES-NIKKEI-S   06-01 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>CME PROPOSES NIKKEI STOCK AVERAGE FUTURES</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>The Chicago Mercantile Exchange (CME)
has proposed a futures contract based on the Nikkei Stock
Average, a price-weighted index of 225 stocks on the Tokyo
Stock Exchange, federal regulators said.
    The Commodity Futures Trading Commission (CFTC) said CME's
proposed contract is designed to be used as a hedging tool for
dealers and investors in Japanese equities.
    The contract's unit of trading would be 500 Japanese yen
times the Nikkei index, CFTC said. The minimum price
fluctuation would be 2,500 yen, with no daily price limits.
    Public comment on the proposal is due by July 28.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6159" NEWID="17821">
<DATE> 1-JUN-1987 16:55:52.54</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>imf</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2501&#31;reute
u f BC-GERHARD-LASKE-APPOINT   06-01 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>GERHARD LASKE APPOINTED TREASURER OF IMF</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>Gerhard Laske, a national of West
Germany, has been appointed treasurer of the International
Monetary Fund, succeeding Walter Habermeier, who took early
retirement, the agency said.
    Laske, 59, held a senior position at the Bundesbank in the
Department for International Organizations. Prior to that, he
was executive director for Germany.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6160" NEWID="17822">
<DATE> 1-JUN-1987 16:56:00.71</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2502&#31;reute
r f BC-FIRST-OF-AMERICA-(FAB   06-01 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST OF AMERICA (FABK.O) ACQUIRES KEYSTONE</TITLE>
<DATELINE>    KALAMAZOO, Mich, June 1 - </DATELINE><BODY>First of America Bank Corp said
it acquired (Keystone Bancshares Inc) for 25 mln dlrs.
    Keystone shareholders will receive 45 dlrs per Keystone
share, payable in First of America convertible preferred stock
having a dividend rate of nine pct.
    Keystone has two affiliates with combined assets of 205 mln
dlrs. First of America has 7.9 billion dlrs in assets.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6161" NEWID="17823">
<DATE> 1-JUN-1987 16:57:01.23</DATE>
<TOPICS><D>hog</D></TOPICS>
<PLACES><D>usa</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f2504&#31;reute
u f BC-NPPC-APPEAL-ON-CANADI   06-01 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>NPPC APPEAL ON CANADIAN PORK DISMISSED</TITLE>
<DATELINE>    Chicago, June 1 - </DATELINE><BODY>The U.S. Court of International Trade has
upheld the International Trade Commission's refusal to extend
countervailing duties on Canadian hogs to include pork
products, the National Pork Producers' Council said.
    The court's ruling came in an appeal to the Trade
Commission's decision filed by the Pork Producers' Council.
    Council president Tom Miller said he was disappointed by
the court ruling and said the council will accelerate
activities in support of an amendment to the 1930 Tariff Act
that would address the objections outlined in the Trade
Commission's ruling.
    The Commission had said there was insufficient economic
integration between the pork production industry and the pork
packing industry to justify extending the duty on live hogs to
fresh, chilled or frozen pork.
    The legislation has already passed the House of
Representatives and recently passed the Senate Finance
Committee. It is expected to be considered by the full Senate
by the end of the summer.
    An appeal by the Canadian Pork Council that the current
countervailing duty on Canadian hogs entering the U.S. be
lifted is pending before the Court.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6162" NEWID="17824">
<DATE> 1-JUN-1987 16:57:21.75</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2506&#31;reute
b f BC-******FORD-MAY-N.-AME   06-01 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FORD MAY N. AMERICAN CAR PRODUCTION 213,790, UP 2.2 PCT FROM 209,109
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6163" NEWID="17825">
<DATE> 1-JUN-1987 16:58:13.86</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2513&#31;reute
r f BC-FLUOROCARBON-&lt;FCBN.O>   06-01 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>FLUOROCARBON &lt;FCBN.O> COMPLETES ACQUISITION</TITLE>
<DATELINE>    LAGUNA NIGEL, Calif., June 1 - </DATELINE><BODY>Fluorocarbon Co said it
completed the acquisition of Eaton Corp's &lt;ETN> industrial
polymer division.
    The company said it paid about 70 mln dlrs in cash for the
division, which will be renamed Samuel Moore Group.
    Fluorocarbon also said the division should boost annual
sales to 165 mln dlrs from last year's 98 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6164" NEWID="17826">
<DATE> 1-JUN-1987 16:58:17.70</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2514&#31;reute
r f BC-SUPERMARKETS-&lt;SGL>-RE   06-01 0039</UNKNOWN>
<TEXT>&#2;
<TITLE>SUPERMARKETS &lt;SGL> REDEEMS PURCHASE RIGHTS</TITLE>
<DATELINE>    CARTERET, N.J., June 1 - </DATELINE><BODY>Supermarkets General Corp said it
redeemed its preferred stock purchase rights on May 29 and will
pay five cts a right in the near future to holders of record
May 29.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6165" NEWID="17827">
<DATE> 1-JUN-1987 16:58:51.31</DATE>
<TOPICS><D>acq</D><D>hog</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2515&#31;reute
r f BC-DEKALB-&lt;DKLBB.O>-SELL   06-01 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>DEKALB &lt;DKLBB.O> SELLS HEINOLD HOG MARKET</TITLE>
<DATELINE>    DEKALB, Ill., June 1 - </DATELINE><BODY>Dekalb Corp said it sold its Heinold
Hog Market Inc to the unit's employees through an Employee
Stock Ownership Plan (ESOP).
    Terms were not disclosed, but president Bruce Bickner said
the sale will have a positive, but not substantial, impact on
DeKalb as a whole.
    The company said the hog marketing unit did not fit with
its strategy of investing in its core businesses.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6166" NEWID="17828">
<DATE> 1-JUN-1987 17:04:24.17</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2537&#31;reute
b f BC-CHRYSLER-&lt;C>-MAY-CAR   06-01 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>CHRYSLER &lt;C> MAY CAR OUTPUT FALLS</TITLE>
<DATELINE>    DETROIT, June 1 - </DATELINE><BODY>Chrysler Corp said its May North American
car production fell 12.8 pct to 94,715 from 108,595 a year ago.
    Chrysler said its May truck production rose 32 pct to
61,151 from 46,332 last year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6167" NEWID="17829">
<DATE> 1-JUN-1987 17:05:31.57</DATE>
<TOPICS><D>iron-steel</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2543&#31;reute
u f BC-LTV-&lt;QLTV>-TO-NEGOTIA   06-01 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>LTV &lt;QLTV> TO NEGOTIATE WITH STEELWORKERS</TITLE>
<DATELINE>    CLEVELAND, June 1 - </DATELINE><BODY>LTV Corp's LTV Steel Corp said it
agreed to resume negotiations with the United Steelworkers of
America at the local plant levels, to discuss those provisions
of its proposal that require local implementation.
    The local steelworker union narrowly rejected a tentative
agreement with the company on May 14, it said.
    LTV also said it agreed to reopen its offer contained in
the tentative agreement reached with the union's negotiating
committee as part of a plan to resolve problems through local
discussions.
               
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6168" NEWID="17830">
<DATE> 1-JUN-1987 17:06:35.43</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM F
&#22;&#22;&#1;f2547&#31;reute
b f BC-MOODY'S-AFFIRMS-MIDDL   06-01 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>MOODY'S AFFIRMS MIDDLE SOUTH &lt;MSU> AND UNITS</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Moody's Investors Service Inc said it
affirmed about four billion dlrs of long-term debt of Middle
South Utilities and nearly all of its units.
    Moody's cited the U.S. Supreme Court's stay of an adverse
Misssissippi Supreme Court ruling for a Middle South unit,
Mississippi Power and Light Co. The approval of the stay may
enhance Mississippi Power's prospects for a favorable judgment,
Moody's added.
    But Moody's said it will watch the situation closely
because the stay depends on a bond posting that is satisfactory
to the Mississippi Supreme Court.
    On May 26, the Mississippi Public Service Commission
ordered Mississippi Power to stop collecting about 12 mln dlrs
in monthly revenues from its Grand Gulf power plant, Moody's
pointed out. The Commission also wants Mississippi Power to
submit a plan for refunding 190 mln dlrs of previously
collected funds, Moody's said.
    The first mortgage bonds and secured pollution control
bonds of Mississippi Power, Arkansas Power and Louisiana Power
and Light Co were affirmed at Baa-1. Their preferred stock was
affirmed at Baa-2. In addition, Moody's affirmed Mississippi
Power's Baa-2 unsecured pollution control debt.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6169" NEWID="17831">
<DATE> 1-JUN-1987 17:07:47.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2554&#31;reute
u f BC-GM-&lt;GM>-MAY-CAR-OUTPU   06-01 0051</UNKNOWN>
<TEXT>&#2;
<TITLE>GM &lt;GM> MAY CAR OUTPUT FALLS 26.3 PCT</TITLE>
<DATELINE>    DETROIT, June 1 - </DATELINE><BODY>General Motors Corp said its May North
American car production fell 26.3 pct to 328,221 units from
445,440 a year ago.
    The company said its May production of commercial vehicles
(trucks and buses) rose 5.1 pct to 158,444 from 150,752 a year
ago.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6170" NEWID="17832">
<DATE> 1-JUN-1987 17:08:09.23</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2556&#31;reute
u f BC-FORD-&lt;F>-MAY-CAR-OUTP   06-01 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>FORD &lt;F> MAY CAR OUTPUT UP 2.2 PCT</TITLE>
<DATELINE>    DETROIT, June 1 - </DATELINE><BODY>Ford Motor Co said its May North American
car production rose 2.2 pct to 213,790 from 209,109 last year.
    The company said its May truck production eased 4.7 pct to
140,696 from 147,638 a year ago.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6171" NEWID="17833">
<DATE> 1-JUN-1987 17:10:30.97</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2564&#31;reute
r f BC-WESTPORT-BANK-&lt;WBT.O>   06-01 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>WESTPORT BANK &lt;WBT.O> SETS 2-FOR-1 SPLIT</TITLE>
<DATELINE>    WESTPORT, Conn., June 1 - </DATELINE><BODY>Westport Bank Corp Inc  aid its
board has declared a 2-for-1 stock split of Westport's common
and an increase in its quarterly cash dividend.
    The company said the split will be effective in the form of
a 100 pct stock dividend on Westport's outstanding common with
a distribution date of July six to shareholders of record on
June 12.
    The company said the pre-split quarterly cash dividend is
26 cts per share, up from 25 cts the previous year, to paid on
July one to shareholders of record on June 12.
   
    Westport Bank said a quarterly dividend of 13 cts a share
will be paid on shares outstanding after the 2-for-1 split.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6172" NEWID="17834">
<DATE> 1-JUN-1987 17:10:48.84</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2567&#31;reute
d f BC-CHARTER-POWER-SYSTEMS   06-01 0031</UNKNOWN>
<TEXT>&#2;
<TITLE>CHARTER POWER SYSTEMS INC &lt;CHP> 1ST QTR</TITLE>
<DATELINE>    PLYMOUTH MEETING, Pa, June 1 -
    </DATELINE><BODY>Shr 11 cts vs 21 cts
    Net 563,000 vs 863,00
    Revs 28.8 mln vs 32.5 mln
    Avg shrs 5.0 mln vs 3.3 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6173" NEWID="17835">
<DATE> 1-JUN-1987 17:10:54.09</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2568&#31;reute
d f BC-FINANCIAL-SECURITY-&lt;F   06-01 0049</UNKNOWN>
<TEXT>&#2;
<TITLE>FINANCIAL SECURITY &lt;FSSLA.O> TO BE ACQUIRED</TITLE>
<DATELINE>    DELRAY BEACH, Fla, June 1 - </DATELINE><BODY>Financial Security Savings and
Loan Association said it signed a letter of intent for a
controlling interest to be acquired by an investor group led by
South Florida developer William Landa.
    Terms were not disclosed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6174" NEWID="17836">
<DATE> 1-JUN-1987 17:11:06.64</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2569&#31;reute
d f BC-E-SYSTEMS-&lt;ESY>-SEES   06-01 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>E-SYSTEMS &lt;ESY> SEES REDUCED SECOND QUARTER</TITLE>
<DATELINE>    DALLAS, June 1 - </DATELINE><BODY>E-Systems said it expects earnings for the
second quarter will likely be below prior expectations due to a
reduction in investment income and higher than expected costs
on several power amplifier programs.
    The company said it does not expect to match the 52 cts a
share net income reported for the second quarter last year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6175" NEWID="17837">
<DATE> 1-JUN-1987 17:12:27.93</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2571&#31;reute
b f BC-BURLINGTON   06-01 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>EDELMAN GROUP CUTS BURLINGTON &lt;BUR> STAKE</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>New York investor Asher Edelman and
Dominion Textile Inc &lt;DTX.T>, who are currently seeking to
acquire Burlington Industries Inc in a hostile tender offer,
said they lowered their stake in the company.
    In a filing with the Secruties and Exchange Commission, the
Edelman/Dominion group, known as Samjens Acqusition Corp, said
it sold options to buy 258,800 Burlington common shares,
reducing its stake in the company to 3,408,813 shares, or 12.33
pct, from 3,667,313 shares, or 13.3 pct.
    The group said the sale, which represented all the
Burlington options it owned, was made May 28 for 8.7 mln dlrs.
    The Edelman/Dominion group last week sweetened its hostile
tender offer to 77 dlrs a share, after Burlington agreed to a
leveraged buyout by a Morgan Stanley and Co-backed group for 76
dlrs a share.
    But the Edelman/Dominion group, which has litigation
pending against Burlington, also said it has held talks with
Morgan Stanley about "the possibility of settlement of
outstanding matters among" it, Morgan Stanley and Burlington.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6176" NEWID="17838">
<DATE> 1-JUN-1987 17:12:43.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f2572&#31;reute
d f BC-GM-MAY-CAR-OUTPUT-FAL   06-01 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>GM MAY CAR OUTPUT FALLS 26.3 PCT</TITLE>
<DATELINE>    DETROIT, June 1 - </DATELINE><BODY>General Motors Corp said its May North
American car production fell 26.3 pct to 328,221 units from
445,440 a year ago.
    The company said its May production of commercial vehicles
(trucks and buses) rose 5.1 pct to 158,444 from 150,752 a year
ago.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6177" NEWID="17839">
<DATE> 1-JUN-1987 17:13:31.62</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F E
&#22;&#22;&#1;f2575&#31;reute
u f BC-CRAZY-1STLD WRITETHROUGH  06-01 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>ENTERTAINMENT MARKETING TOPS CRAZY EDDIE OFFER</TITLE>
<AUTHOR>    By Michael Connor, Reuters</AUTHOR>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>A quickly growing Texas-based
distributor of electronics products offered 240 mln dlrs
for Crazy Eddie Inc &lt;crzy>, the leading New York City
electronics retailer, or one dlr per share more than its
founder has bid.
    The 8-dlr-a-share offer by Entertainment Marketing Inc &lt;em>
for Crazy Eddie comes less than two weeks after founder Eddie
Antar and a firm controlled by the Belzbergs of Canada
announced a bid to take the 32-store Crazy Eddie chain private.
    Analysts said Entertainment Marketing, whose revenues and
profits quadrupled in 1986, may be looking to break into the
highly competitive New York City retail market for consumer
electronics, the nation's biggest, at a time the fortunes of
electronics retailers have sagged.
    The analysts questioned whether Houston-based Entertainment
Marketing, founded by a former electronics retailer but whose
present buinesses are primarily as wholesale distributors, had
the management expertise for retailing or was merely trying to
drive up the price of the Crazy Eddie shares it already owns.
    "I have mixed feelings," said analyst Dennis Telzrow of
Eppler, Geurin and Turner, a Dallas brokerage. "On the one hand
it's probably a cheap price. On the other hand, does
Entertainment Marketing have the management talent to run it
and will the Crazy Eddie people leave?"
    "It's a risky strategy for Entertainment Marketing," said
analyst Eliot Laurence of Wessels Arnold and Henderson, a
Minneapolis brokerage. "Electronics retailing is very management
concentrated; they'd want to keep Crazy Eddie's management in
place."
    Laurence said that, since Entertainment Marketing already
owns 4.3 percent of Crazy Eddie's 31.3 million shares, it may
be trying to get the Antar-Belzberg group to increase its
7-dlr-a-share offer.
    Shares of Crazy Eddie, which have jumped from the high
4-dlr range to above 7 dlrs since the Antar-Belzberg bid was
announced May 20, rose another 50 cents Monday to 8.375 a share
in over-the- counter trading. 
    Antar, the reclusive founder of the chain in the New York
City, Philadelphia and Connecticut areas, said last month that
his group controlled 14 percent of Crazy Eddie's shares.
    A Crazy Eddie spokesman said the company's board has taken
no decision on the Antar-Belzberg offer, worth some 187 mln dlrs
since they own more shares than Entertainment Marketing. He
would not comment on the new offer.
    Entertainment Marketing sells computer products such as
disk drives and other, often discounted electronics goods to
retailers, primarily in the southwest, and directly to
consumers by cable television.
    In fiscal 1986, ending last January, its revenues rose to
87.9 mln dlrs from 21.3 mln dlrs the previous year. Net profit
went to 3.2 mln dlrs from 750,000 dlrs in 1985.
    Entertainment Marketing, whose chief executive officer,
Elias Zinn, once ran an electronics retailing business, said in
a statement it had committed 50 mln dlrs toward the purchase
of Crazy Eddie and had retained Dean Witter Reynolds Inc to
assist in financing the balance.
    Analyst Telzerow estimated that the company would have to
borrow about 100 mln dlrs to complete the proposed buyout since
Crazy Eddie has cash and other assets worth about the same
amount.
    Shares of Entertainment Marketing were up 12.5 cents Monday
to 9.50.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6178" NEWID="17840">
<DATE> 1-JUN-1987 17:14:38.47</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2581&#31;reute
f f BC-******SECURITY-PACIFI   06-01 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>SECURITY PACIFIC TO ADD 500 MLN DLRS TO RESERVE FOR CREDIT LOSSES
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6179" NEWID="17841">
<DATE> 1-JUN-1987 17:17:47.95</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2593&#31;reute
r f BC-PENTAGON-AWARDS-176.7   06-01 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>PENTAGON AWARDS 176.7 MLN DLRS IN CONTRACTS</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>The U.S. Defense Department said it
has awarded contracts totaling 176.7 mln dlrs to Grumman
Aerospace Corp &lt;GQ>, GEC Avionics Ltd, General Dynamics Corp
&lt;GD> and Refinery Associates.
    The Pentagon said it has awarded Grumman Aerospace Corp a
50.9 mln dlr addition to an existing contract for 18 F-14A
Tomcat fighter aircraft.
    It also said it has awarded General Dynamics Corp 50.1 mln
dlrs for three contracts. General Dynamics Fort Worth Division
was awarded a 41.3 mln dlrs in increase to existing contracts
for foreign military sales of the F-16.
    General Dynamics Corp's Electric Boat Division has been
awarded an 8.8 mln dlr contract to provide logistics and
training support requirements for the Trident Refit facility,
the Defense Department said.
    GEC Avionics Limited of Rochester, England, has been
awarded a 35.4 mln dlr increase to an existing contract for 564
air data computer kits and 920 mounting hardware kits for
aircraft, the department said.
    Refinery Associates Inc has been awarded 40.3 mln dlr
contract for 93.2 mln gallons of various fuel oils, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6180" NEWID="17842">
<DATE> 1-JUN-1987 17:19:13.58</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2598&#31;reute
f f BC-******SECURITY-PACIFI   06-01 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>SECURITY PACIFIC EXPECTS 175 MLN DLR LOSS IN QTR AS RESULT OF LOSS PROVISION
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6181" NEWID="17843">
<DATE> 1-JUN-1987 17:22:37.09</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2603&#31;reute
r f BC-HOME-&lt;HME>-SAYS-IT-IS   06-01 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>HOME &lt;HME> SAYS IT IS NOT AFFECTED BY RULING</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>The Home Insurance Co, a unit of the
Home Group Inc, said it is not affected by a May 29 California
court ruling that says 20 insurance companies must bear the
costs of asbestos-injury claims.
    The company said it had reached a settlement agreement with
five former asbestos manufacturers that it had insured, prior
to the Superior Court ruling that said insurers, and not
asbestos makers, would have to pay the claims from the
thousands of victims of asbestos-related illnesses.
    Home Insurance did not disclose the terms of the
settlement.
   
    Home Insurance said it had provided excess coverage to
Manville Corp &lt;QMAN>, Armstrong World Industries &lt;ACK>,
&lt;Fibreboard Inc>, GAF Corp &lt;GAF> and &lt;Nicolet Inc>.
    Home Insurance said it had been negotiating for the past
two years to reach a settlement with the five former asbestos
manufacturers to establish the amount of coverage that Home
Insurance would provide in the claims.
    The company said the settlement does not impact current or
future earnings of the Home Insurance or its parent, Home
Group, and that it will no longer offer insurance for
asbestos-related incidents.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6182" NEWID="17844">
<DATE> 1-JUN-1987 17:23:41.22</DATE>
<TOPICS></TOPICS>
<PLACES><D>lebanon</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM Y
&#22;&#22;&#1;f2605&#31;reute
b f BC-GEMAYEL-NAMES-ACTING   06-01 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>GEMAYEL NAMES ACTING PREMIER</TITLE>
<DATELINE>    BEIRUT, June 1 - </DATELINE><BODY>President Amin Gemayel named Sunni Moslem
Education Minister Selim Hoss as acting prime minister
following the assassination of Premier Rashid Karami, a
presidential palace statement said.
    "After consultations by President Amin Gemayel with
political and religious leaders the president decided to name
Selim Hoss as acting prime minister," said the statement
broadcast on local radio stations.
    Moslem leaders proposed Hoss, a former premier, as acting
prime minister after Karami died of injuries from a bomb that
exploded aboard his helicopter.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6183" NEWID="17845">
<DATE> 1-JUN-1987 17:30:50.21</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A RM
&#22;&#22;&#1;f2619&#31;reute
f f BC-******S/P-AFFIRMS-RAT   06-01 0007</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>S/P AFFIRMS RATINGS ON SECURITY PACIFIC
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6184" NEWID="17846">
<DATE> 1-JUN-1987 17:37:27.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F RM A
&#22;&#22;&#1;f2637&#31;reute
b f BC-SECURITY-PACIFIC-&lt;SPC   06-01 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>SECURITY PACIFIC &lt;SPC> ADDS 500 MLN TO RESERVE</TITLE>
<DATELINE>    LOS ANGELES, June 1 - </DATELINE><BODY>Security Pacific Corp said it intends
to add 500 mln dlrs to its provision for credit losses during
the second quarter, a move that will result in a loss for the
period of about 175 mln dlrs.
    The company added, however, that it now expects to post a
profit for the full year of about 150 mln dlrs.
    Security Pacific said the reserve is specifically related
to its loans to the developing world.
    Security Pacific, which has assets of about 64 billion
dlrs, reported 1986 net income of 385.9 mln dlrs. Last year it
posted second quarter net income of 93.5 mln.
    In making the announcement, Security Pacific said the extra
500 mln dlrs will raise its reserve for credit losses to about
1.3 billion dlrs, or 2.8 pct of total loans and leases
outstanding.
    It said the amount of reserves allocated to Lesser
Developed Country (LDC) debt represents about one-third of the
company's total LDC debt portfolio.
    A spokesman said the company currently has LDC debt
exposure of about 1.8 billion dlrs. The company's total loan
portfolio at March 31 stood at 44.4 billion dlrs.
    The Security Pacific move follows similar provisions by
several other money center banks.
    Last month Citicorp &lt;CCI> led the move by annoucing a three
billion dlr addition to its reserve to help bolster its
protection against uncertainties in the economic world.
    Chase Manhattan Corp &lt;CMB> followed with a 1.6 billion dlr
addition to its credit loss reserve.
    "While our LDC debt exposure is relatively small, we think
that the LDC debt environment has been altered significantly
given the recent actions of other major financial
institutions," Security Pacific chairman Richard Flamson said
in a statement.
    Following its 500 mln dlr addition to the credit loss
reserve, its primary capital ratio at the end of the second
quarter will be about 7.4 pct, Security Pacific said.
    The company further stated that it anticipates continuing
its current dividend payment at an annual rate of 1.80 dlrs per
share.
    The company also stressed that it is not writing off loans
to the developing world but rather, adding to its reserves will
allow greater flexibility when dealing with these credits in
the future.
    Security Pacific also said it intends to play a continuing
role in meeting the needs of those countries.
    Security Pacific is the nation's sixth largest bank holding
company.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6185" NEWID="17847">
<DATE> 1-JUN-1987 17:38:20.01</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2638&#31;reute
h f BC-FIRST-UNION-&lt;FUNC.O>   06-01 0039</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST UNION &lt;FUNC.O> COMPLETES ACQUISITIONS</TITLE>
<DATELINE>    JACKSONVILLE, Fla., June 1 - </DATELINE><BODY>First Union Corp said it
completed the acquisition of two Florida-based banks, North
Port Bank, based in North Port, and City Commerical Bank, based
in Sarasota.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6186" NEWID="17848">
<DATE> 1-JUN-1987 17:38:45.35</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2639&#31;reute
h f BC-CROP-GENETICS-INTERNA   06-01 0051</UNKNOWN>
<TEXT>&#2;
<TITLE>CROP GENETICS INTERNATIONAL &lt;CROP.O> 4TH QTR</TITLE>
<DATELINE>    HANOVER, Md., June 1 - </DATELINE><BODY>4th qtr ended March 31.
    Shr loss 24 cts vs loss 19 cts
    Net loss 751,900 vs loss 569,000
    Revs 497,500 vs 811,400
    Year
    Shr loss 1.13 dlrs vs loss 70 cts
    Net loss 3,472,700 vs 1,990,300
    Revs 2,484,100 vs 2,498,300
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6187" NEWID="17849">
<DATE> 1-JUN-1987 17:46:32.84</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2658&#31;reute
r f BC-INVESTORS-MAY-TAKE-CO   06-01 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>INVESTORS MAY TAKE COMPUTERLAND PUBLIC</TITLE>
<AUTHOR>    BY LAWRENCE EDELMAN, REUTERS</AUTHOR>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>The investor group that has agreed to
buy &lt;Computerland Corp> will likely take the leading personal
computer retailer public or sell it to other investors,
industry analysts said.
    "Now's a good time," said Joe Levy of International Data
Corp. "The personal computer industry has bottomed out and is
on the way up again," he said.
    Earlier today, closely held Computerland, the largest PC
retailing chain in the country, said it agreed to be bought by
an investor group led by E.M. Warburg Pincus and Co, New York.
    Neither Computerland, which is 96 pct owned by its founder,
William H. Millard, nor E.M. Warburg, a money management and
venture capital firm, would disclose the value of the
transaction.
    Analysts estimated that Computerland, whose 800 stores
generated 1.4 billion dlrs in sales last year, would fetch  150
mln dlrs to 250 mln dlrs. Computerland franchise owners pay
royalties averaging 5.9 pct to the parent company.
    Officials for E.M. Warburg referred all questions to
Computerland. Computerland officials could not immediately be
reached for comment.
    E.M. Warburg currently manages 1.5 billion dlrs in venture
capital funds, and its past investments have included Mattel
Inc &lt;MAT> and the Ingersoll newspaper chain. It is also a money
manager, with 3.5 billion dlrs under management.
   Although the PC retailers are benefitting from the strong
upturn in PC sales, analysts said Computerland must make key
changes if it is to fend off advances from rivals like
Businessland Inc &lt;BUSL.O> and Tandy Corp's &lt;TAN> Radio Shack
stores. "The name of the game now is outbound sales forces,
customer service and customer support," said Levy of
International Data.

    Relations between Computerland and its franchise owners
have mellowed recently after Millard was forced to give up
managment control of the company in 1985.
    Ed Faber, who took over as chairman and chief executive
officer, revamped the company's royalty plan, which help quell
much of the franchisee dissent.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6188" NEWID="17850">
<DATE> 1-JUN-1987 17:50:09.24</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A RM
&#22;&#22;&#1;f2662&#31;reute
b f BC-S/P-AFFIRMS-RATINGS-O   06-01 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>S/P AFFIRMS RATINGS ON SECURITY PACIFIC &lt;SPC></TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Standard and Poor's Corp said it
affirmed Security Pacific Corp's 4.5 billion dlrs of debt.
    S and P said that although the bank's decision today to
increase its reserve against developing country debt by 500 mln
dlrs will result in a loss in the second quarter, the firm
still expects to report a profit for the year.
    Affirmed were Security Pacific's AA senior debt, AA-minus
subordinated debt and preferred stock and A-1-plus commercial
paper. Also, uninsured certificates of deposit of Security
Pacific National Bank and Arizona Bank of Phoenix were affirmed
at AA/A-1-plus.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6189" NEWID="17851">
<DATE> 1-JUN-1987 17:53:42.91</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2668&#31;reute
r f BC-DIGITAL-COMMUNICATION   06-01 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>DIGITAL COMMUNICATIONS &lt;DCAI> INTRODUCES ITEMS</TITLE>
<DATELINE>    ALPHARETTA, Ga., June 1 - </DATELINE><BODY>Digital Communications Associates
Inc said it introduced four new personal computer
communications products, including equipment designed for the
recently anounced International Business Machines Corp &lt;IBM>
personal system/2, and Apple Computer Inc's &lt;APPL.O> 's
Macintosh II and Macintosh SE computers.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6190" NEWID="17852">
<DATE> 1-JUN-1987 17:54:13.74</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2670&#31;reute
r f BC-UNITED-PARK-&lt;RPK>-HAS   06-01 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>UNITED PARK &lt;RPK> HAS FULL SUBSCRIPTION</TITLE>
<DATELINE>    SALT LAKE CITY, June 1 - </DATELINE><BODY>United Park City Mines Co said it
had a full and complete subscription to all of the 5,400,731
shares ot its common stock offered in connection with its
recent rights offering.
    It said it will issue 4,892,153 shares of its common under
the basic subscription right and 508,578 shares of its common
under the oversubscription privilege. It said it will also
receive 2.7 mln dlrs in proceeds from the offering.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6191" NEWID="17853">
<DATE> 1-JUN-1987 17:54:25.08</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2671&#31;reute
d f BC-LADD-&lt;LADD.O>-UNIT-CO   06-01 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>LADD &lt;LADD.O> UNIT COMPLETES ACQUISITION</TITLE>
<DATELINE>    HICKORY, N.C, June 1 - </DATELINE><BODY>Ladd Furniture Inc's Clayton-Marcus
Furniture subsidiary said it completed the previously announced
purchase of privately-held Colony House Furniture Inc
for an undisclosed amount of cash and notes.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6192" NEWID="17854">
<DATE> 1-JUN-1987 17:54:51.10</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2672&#31;reute
d f BC-HYCOR-BIO-&lt;HYBD.O>-FO   06-01 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>HYCOR BIO &lt;HYBD.O> FORMS UNIT TO SELL PRODUCT</TITLE>
<DATELINE>    FOUNTAIN VALLEY, June 1 - </DATELINE><BODY>Hycor Biomedical Inc said it was
forming a unit, Hycor Instruments Inc, to distribute a line of
chemistry analyzers made by &lt;JEOL Ltd> of Japan.
    The product, called a "clinalyzer," is an automated blood
analyzer capable of providing diagnostic and other tests for
hospitals and clinics, the company said.
    The company also said it has discussed distributing other
products made by JEOL.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6193" NEWID="17855">
<DATE> 1-JUN-1987 17:57:44.72</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2677&#31;reute
u f BC-GENERAL-MOTORS-(GM)-C   06-01 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL MOTORS (GM) CANADA TO CLOSE TRUCK CENTRE</TITLE>
<DATELINE>    MONTREAL, June 1 - </DATELINE><BODY>General Motors of Canada Ltd said it
will close its Montreal truck centre August 31, due to low
sales volume, putting most of the centre's 131 employees out of
work.
    "The sales volume at the centre has been insufficient to
support the operation," the company said in a statement.
    "With the recently announced joint venture with Volvo to
supply the heavy-duty truck market, customer requirements for
the GM line of light and medium duty trucks will be better
satisfied by GM dealers located throughout Quebec," the company
said.
    General Motors Canada said it will provide 52 weeks of
layoff benefits for most employees and up to 104 weeks for some
senior employees.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6194" NEWID="17856">
<DATE> 1-JUN-1987 17:59:06.72</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2680&#31;reute
r f BC-INTL-THOMSON-&lt;ITO.TO>   06-01 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>INTL THOMSON &lt;ITO.TO> PLANS PREFERRED ISSUE</TITLE>
<DATELINE>    TORONTO, June 1 - </DATELINE><BODY>International Thomson Organization Ltd
said it planned an issue in all of Canada except Quebec of two
mln 1.85 dlr cumulative redeemable retractable series one
preferred shares.
    It said that underwriters McLeod Young Weir Ltd and Wood
Gundy Inc agreed to acquire the issue at 25.568 dlrs a share,
with yield to retraction on October 15, 1991 of 7-1/8 pct a
year. The company said it also agreed to sell to the two
underwriters two mln 1.84375 dlr series four cumulative
redeemable retractable preferred shares, which will be resold
privately.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6195" NEWID="17857">
<DATE> 1-JUN-1987 18:10:23.46</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2694&#31;reute
r f BC-CIS-&lt;CISIF.O>-AGREES   06-01 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>CIS &lt;CISIF.O> AGREES TO SECOND EXTENSION</TITLE>
<DATELINE>    TULSA, Okla., June 1 - </DATELINE><BODY>CIS Technologies Inc said that it
and the Swiss Reinsurance Co of Zurich, Switzerland agreed to a
second extension of two dates for the final part of their share
purchase agreement.
    It said the June one election date has been extended to
June 15 and the June 30 closing date has been changed to July
31.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6196" NEWID="17858">
<DATE> 1-JUN-1987 18:16:32.31</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f2698&#31;reute
r f BC-ELSINORE-&lt;ELS>-MAKES   06-01 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>ELSINORE &lt;ELS> MAKES DEPOSIT TO COVER BONDS</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Elsinore Corp said it deposited five mln
dlrs to cover accrued and unpaid interest through June 30 of
the 15-1/2 pct senior mortgage bonds of 1999 of its unit
Elsinore Finance Corp.
    Elsinore has guaranteed the payment of its unit's bonds.
    The parent deposited the five mln dlrs with Elsinore
Finance's trustee, Manufacturers Hanover Trust Co, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6197" NEWID="17859">
<DATE> 1-JUN-1987 18:16:43.90</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2699&#31;reute
r f BC-ARIZONA-NUCLEAR-PLANT   06-01 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>ARIZONA NUCLEAR PLANT RESTARTED AFTER SHUTDOWN</TITLE>
<DATELINE>    WINTERSBURG, Ariz., June 1 - </DATELINE><BODY>The Palo Verde Unit 1 nuclear
power plant returned to service today following an automatic
shutdown early Saturday morning, the Arizona Nuclear Power
Project said.
    The shutdown came during a weekly test of feedwater pumps
leading to the steam generators on the non-nuclear side of the
plant, a Power Project spokesman said. A defective electrical
relay caused a feedwater pump to stop operating, leading to an
automatic shutdown of the plant, he said.
    Palo Verde Unit 1 was restarted Sunday following repairs
and surveillance testing. Unit 1 was operating at 40 pct power
Monday and is expected to return to full power, about 1300
megawatts, Tuesday, the spokesman said.
    Palo Verde Unit 2 continues to operate at full power,
generating 1347 gross megawatts, he said.
    The Arizona Nuclear Power Project is a consortium including
AZP Group's &lt;AZP> Arizona Public Service, El Paso Electric
&lt;ELPA>, Public Service of New Mexico &lt;PNM> and Southern
California Edison &lt;SCE>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6198" NEWID="17860">
<DATE> 1-JUN-1987 18:18:22.90</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2701&#31;reute
r f BC-WASTE-MANAGEMENT-&lt;WMX   06-01 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>WASTE MANAGEMENT &lt;WMX> BOARD OKAYS MODULAIRE BUY</TITLE>
<DATELINE>    OAK BROOK, Ill., June 1 - </DATELINE><BODY>Waste Management Inc said its
directors approved a May 10 accord with Modulaire Industries
&lt;MODX.O> under which Waste Management would acquire Modulaire.
    Under the agreement, Modulaire stockholders would receive
16 dlrs in Waste Management stock for each Modulaire share.
    Modulaire has scheduled a special shareholders meeting for
July 15 to vote on the merger. Waste Management said it has
received proxies from holders of 49.6 pct of Modulaire's common
stock that could be voted in favor of the merger.
    The Hart-Scott-Roding waiting period on the takeover will
expire June 17.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6199" NEWID="17861">
<DATE> 1-JUN-1987 18:23:07.89</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f2705&#31;reute
b f BC-SECURITY-PACIFIC-&lt;SPC   06-01 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>SECURITY PACIFIC &lt;SPC> ADDS 500 MLN TO RESERVE</TITLE>
<DATELINE>    LOS ANGELES, June 1 - </DATELINE><BODY>Security Pacific Corp said it intends
to add 500 mln dlrs to its provision for credit losses during
the second quarter, a move that will result in a loss for the
period of about 175 mln dlrs.
    The company added, however, that it now expects to post a
profit for the full year of about 150 mln dlrs.
    Security Pacific said the reserve is specifically related
to its loans to the developing world.
    Security Pacific, which has assets of about 64 billion
dlrs, reported 1986 net income of 385.9 mln dlrs. Last year it
posted second quarter net income of 93.5 mln.
    In making the announcement, Security Pacific said the extra
500 mln dlrs will raise its reserve for credit losses to about
1.3 billion dlrs, or 2.8 pct of total loans and leases
outstanding.
    It said the amount of reserves allocated to Lesser
Developed Country (LDC) debt represents about one-third of the
company's total LDC debt portfolio.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6200" NEWID="17862">
<DATE> 1-JUN-1987 18:28:03.70</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f2711&#31;reute
d f BC-CANADA SCHEDULED-WEEKLY-COLUMN  06-01 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>BOEING &lt;BA> RESHAPING DE HAVILLAND IN OWN IMAGE</TITLE>
<AUTHOR>    By Russ Blinch, Reuters</AUTHOR>
<DATELINE>    OTTAWA, June 1 - </DATELINE><BODY>Boeing Co is attempting to recreate
money-losing de Havilland Aircraft of Canada Ltd in its own
image.
    But it is a process that will be complex and, because the
company was in worse shape than expected, time-consuming,
according to de Havilland president Ron Woodard.
    Yet Woodard, a former Boeing executive, believes the
makeover is absolutely essential to revitalize the historic
company Boeing bought from the Canadian government a year ago.
    "These are very complex, deep problems that you don't change
overnight," Woodard told Reuters in an interview as he outlined
his vision of transforming de Havilland into a diversified
manufacturer and an important cog in Boeing's worldwide
operations.
    "We've got to get our house in order. We've got to get lots
of Boeing (sub-contract) work in here and we've got to get
Boeing's systems in here and just get to be part of the
worldwide support system."
    But based on de Havilland's turbulent flight path in recent
years, the task will also not be easy.
    Formed in 1928 as an offshoot of the British operation
started by Geoffrey de Havilland, the company has turned out a
variety of small aircraft. During World War II it produced the
unique wooden Mosquito bomber for the Allied Command.
    In the postwar years that de Havilland became renowned
internationally for its rugged bush planes.
    Canada's Liberal government, interested in developing de
Havilland's STOL (Short Take Off and Landing) technology,
acquired the firm in 1974 and poured 830 mln Canadian dlrs into
it over a dozen years, helping to develop the 50-seat Dash 7
and 39-seat Dash 8 commuter aircraft.
    Amid accusations of a sellout, the pro-business
Conservative government sold the company to Boeing in 1986 for
90 mln Canadian dlrs, or less than the price of one of Boeing's
747s.
    Woodard believes de Havilland, which has not made a profit
since 1982, suffered from neglect under government control. It
was also in worse condition than anticipated, and
the company has approached Ottawa for compensation for what it
believes were unexpected shortcomings at the plant.
    "We found to our shock, to our surprise, last August we had
very serious health and safety regulation violations," said
Woodard.
    Although he would not divulge how much is being sought,
Woodard said it would be in excess of the 10 mln Canadian dlrs
already spent on replacing the plant's outmoded ventilation
system.
    Yet Woodard is optimistic that once Boeing's manufacturing
systems are in place, the company can begin delivering planes
on time and at a profit -- possibly within a year and a half.
    "We've got a great product and if we can get everyone
heading the same way we're just going to eat the rest of the
world," Woodard predicted.
    Company officials said production of the 6-mln-U.S.-dlr 
Dash 8 has been doubled to four a month and they hope to reach
six a month by year end.
    Some 63 Dash 8s are on order and there are options for the
purchase of another 27. For the brand new "stretch" or extended
version of the plane, 23 have been ordered and 11 are under
option.
    Woodard said that while de Havilland has a commanding grip
on the North American commuter market, which has been booming
under airline deregulation, the company has only a 30 pct
market share worldwide.
    "I'd like to see us make some overseas penetrations. There
are a lot of places now where people are starting to
deregulate. I think the next big, big growth area is probably
Europe," he said.
    De Havilland now has 5,500 employees, up from 4,300 when
Boeing bought the company. All manufacturing is located at its
Downsview Airport site in Toronto.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6201" NEWID="17863">
<DATE> 1-JUN-1987 18:30:28.08</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2719&#31;reute
u f BC-BURLINGTON-&lt;BUR>-HEAR   06-01 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>BURLINGTON &lt;BUR> HEARING TO CONTINUE TOMORROW</TITLE>
<DATELINE>    Greensboro, N.C., June 1 - </DATELINE><BODY>U.S. District Court Judge Eugene
A. Gordon said he plans to issue a decision tomorrow on
Burlington Industries Inc's request for an injunction to stop
Samjens Acquisition Corp's takeover bid for the company.
    Wall Street sources have said the outcome of the case could
be pivotal in determining the winner in the fierce takeover
battle for Burlington, the largest u.s. textile maker.
    Gordon presided over six hours of argument today by lawyers
for Burlington and Samjens, a partnership formed by Dominion
Textile Inc and New York investor Asher Edelman.
    Hearings are scheduled to continue tomorrow. A preliminary
injunction would hold up Samjens 2.47 billion dlr offer until
the case is decided.
    Burlington had previously agreed to a 2.44 billion dlr
buyout from Morgan Stanley Group Inc &lt;MS>, one dlr per share
lower than a sweetened 77 dlr per share bid made by Samjens
last week. Burlington has not responded to the new Samjens
offer.
    Burlington has alleged in its lawsuit that Edelman and
Dominion used illegally obtained confidential information about
the company in making their takeover attempt.
 
    That information, Burlington said, was provided by James
Ammeen, a former Burlington executive, through PaineWebber
Group Inc &lt;PWJ>. Ammeen, who had worked for Burlington for 23
years, had as many as 12 divisions with 50 pct of Burlington's
sales reporting to him. When he left Burlington in November,
1985, Burlington said he signed a contract promising never to
divulge inside information about the company.
    Burlington lawyers said shortly after he left he began
working with a PaineWebber employee on a hostile plan to
"takeover the company, dismember the company and displace its
management," Burlington lawyer Hubert Humphrey said.
    Samjens lawyers acknowledged it received information from
PaineWebber, but argued the information was public information
and could be obtained either from texitle industry analysts or
Burlington's public financial statements.
    Burlington lawyers said PaineWebber and Ammeen met with
Edelman and Dominion in November and continued to meet with
them until a couple of days before Edelman and Dominion went
public April 24 with their intention to take over the company.
Burlington lawyers claim Dominion's board decided to attempt a
takeover of Burlington after Ammeen met with the board in
February.
    Burlington lawyers said Edelman and Dominion held
discussions with PaineWebber and Ammeen about acting as
financial advisers to Samjens. But they allege talks broke off
because Painewebber and Ammeen could not satisfy Edelman and
dominion with a written statement that they did not provide
inside information.
    Lawyers for Samjens contended that Painewebber and Ammeen
withdrew as potential advisers because Burlington chairman
Frank Greenberg had called a PaineWebber executive and
threatened legal action if PaineWebber got involved in an
effort to takeover Burlilgnton.
    "The ultimate question is not the price per share or the
profit, but rather the permissable standards of conduct for
those who would takeover an American company," said burlington
lawyer Humphrey.
    Burlington lawyers also contended that Burlington, as the
largest manufacturer of denim in the United States, would be in
violation of anti-trust laws if it acquired Dominion, Canada's
largest textile maker. Dominion has denim manufacturing plants
in Georgia, which would reduce competition in the denim market,
the lawyers said.
    Samjens' lawyers discounted the concern. They said the
market for denim is more fragmented than Burlington contends
and that Burlington has the ability to switch between light
weight and heavy weight denim production as demand and price
dictate.
    Samjens lawyers also pointed to a lawsuit filed by
Burlington in Canada, in which it said it was considering a bid
for Dominion. "Surely, what would have been sauce for the goose
would have been sauce for the gander," said Sidney Rosdeitcher,
a Samjens lawyer.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6202" NEWID="17864">
<DATE> 1-JUN-1987 18:37:13.87</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2730&#31;reute
u f BC-EDELMAN-DETAILS-BURLI   06-01 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>EDELMAN DETAILS BURLINGTON &lt;BUR> OPTIONS SALE</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>A tender offer of Asher Edelman and
Dominion Textile Ltd &lt;DTX.TO> for Burlington Idustries Inc is
not affected by the investors' sale of options to buy
Burlington stock, according to an associate of Edelman.
    Noting that "our tender offer is definitely in place" the
aide said the investors are prohibited by Securities and
Exchange Commission regulations from exercising options as long
as a tender offer is open. The options are due to expire at the
end of June.
    He said the May 28 sale of options to buy 258,800
Burlington shares was thus a "non-event."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6203" NEWID="17865">
<DATE> 1-JUN-1987 18:40:42.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2736&#31;reute
b f BC-CONFERENCE-BOARD-FIND   06-01 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>CONFERENCE BOARD FINDS US BUSINESS CONFIDENCE UP</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Business leaders' confidence in the U.S.
economy has improved slightly, but many top executives express
concern about prospects for the second half of this year, the
Conference Board said.
    The board's measure of business confidence closed at 55 in
the 1987 first quarter, up from 51 in the 1986 fourth quarter.
    However, the Board said virtually all of the gain reflected
optimism about current conditions rather than prospects for the
last half of 1987. The survey covers over 1,000 chief
executives and other top-level executives, representing a wide
cross section of business.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6204" NEWID="17866">
<DATE> 1-JUN-1987 18:42:25.90</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2737&#31;reute
u f BC-CONT'L-MATERIALS-&lt;CUO   06-01 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>CONT'L MATERIALS &lt;CUO> ENDS CONSIDERATION OF BID</TITLE>
<DATELINE>    CHICAGO, June 1 - </DATELINE><BODY>Continental Materials Corp said its
directors decided not to give further consideration to
"business combination" proposed by a stockholder group that
holds 5.2 pct of Continental Materials stock.
    Continental Materials said the offer had been received from
Continental Associates, a group of St. Louis businessmen.    
According to Continental Materials, the group said May 11 it
might boost its stake in Continental Materials. But the group
also said in a letter last week to the company that the group
had no financing. The board "did not consider it an official
offer," a Continental Materials spokeswoman said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6205" NEWID="17867">
<DATE> 1-JUN-1987 18:51:52.49</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2746&#31;reute
r f BC-AMERIBANC-&lt;AINV.O>,-C   06-01 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERIBANC &lt;AINV.O>, CARDINAL END ACQUISITION</TITLE>
<DATELINE>    ANNANDALE, Va., June 1 - </DATELINE><BODY>Ameribanc Investors Group and
Cardinal Savings and Loan Association jointly announced that
the proposed acquisition of Cardinal by Ameribanc has been
terminated by mutual agreement.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6206" NEWID="17868">
<DATE> 1-JUN-1987 18:56:13.42</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2749&#31;reute
r f BC-FORMER-SANTA-FE-DIREC   06-01 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>FORMER SANTA FE DIRECTOR SENTENCED AND FINED</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Darius Keaton, 63, former director of
Santa Fe International Corp, was sentenced to two months in
jail and fined 11,000 dlrs for trading the company's stock on
insider knowledge of its 1981 two-billion-dlr takeover.
    Keaton, who was sentenced in Manhattan Federal Court,
pleaded guilty to wire fraud and failing to report to the
Securities and Exchange Commission that he used his inside
knowledge of a takeover by Kuwait Petroleum to buy shares of
Santa Fe's stock before the takeover was disclosed.
     Keaton must also serve 1,000 hours of community service
after which he will be placed on probation for five years.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6207" NEWID="17869">
<DATE> 1-JUN-1987 19:03:07.95</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2758&#31;reute
r f BC-PRESIDENTIAL-&lt;PAIR.O>   06-01 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>PRESIDENTIAL &lt;PAIR.O> APRIL LOAD FACTOR DROPS</TITLE>
<DATELINE>    WASHINGTON, June 1 - </DATELINE><BODY>Presidential Airways Inc said its load
factor for April was 43.8 pct compared with 44.6 pct in the
year-ago period.
    The airline also said its revenue passenger miles were 53.2
mln compared with 30.9 mln in April 1986 and available seat
miles increased to 119.3 mln compared to 70.7 mln.
    Presidential also reported that for the first quarter it
had a loss of 72 cts a share compared with a loss of 98 cts a
share in the year-ago quarter. Revenues were 20.6 mln dlrs,
compared with 11.8 mln dlrs in the year-ago period.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6208" NEWID="17870">
<DATE> 1-JUN-1987 19:20:20.95</DATE>
<TOPICS><D>alum</D></TOPICS>
<PLACES><D>venezuela</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f2774&#31;reute
r f BC-venezuela-obtained-30   06-01 0125</UNKNOWN>
<TEXT>&#2;
<TITLE>VENEZUELA GETS 300 MLN DLRS CREDIT FOR ALUMINUM</TITLE>
<DATELINE>    CARACAS, June 1 - </DATELINE><BODY>Venezuela has obtained more than 300 mln
dlrs in financing for industrial projects and increased its
lines of credit for import financing, finance minister Manuel
Azpurua said.
    'We can say that we are achieving the recuperation of
credit, but that cannot be done overnight,' Azpurua said in a
television interview.
    He said a credit agreement for 100 mln marks will be signed
this week with the German state bank Kreditanstalt fur
Wiederaufbau (KFW), to finance an expansion of the state
aluminum company Venalum.
    The credit will be divided into two separate agreements,
one for 85 mln marks with an interest rate of 6.13 pct, and
another for 15 mln marks, at 6.20 pct.
    Azpurua said financing has also been obtained for expansion
of Alcasa, another state aluminum company, and for projects in
the state steel and petrochemical industries.
    Yesterday, he said Venezuela obtained two new credits of
5.0 mln dlrs each for export financing, one from Credit du Nord
of France and the other from Britain's Midland Bank.
    The Venezuelan government has been criticised at home for
failing to obtain new credits, despite its insistence on
repaying foreign debt according to the terms of a rescheduling
accord reached last February.
    Azpurua recently visited Tokyo hoping to acquire new
credits for industrial expansions but clinched no agreements.
Japanese officials refused to allow a new issue of Venezuelan
bonds until the country regains its 'Triple A' credit rating.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6209" NEWID="17871">
<DATE> 1-JUN-1987 19:23:02.38</DATE>
<TOPICS><D>money-fx</D><D>dlr</D><D>trade</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f2776&#31;reute
u f BC-/U.S.-TRADE-DATA-SEEN   06-01 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. TRADE DATA SEEN AS KEY TO DOLLAR TREND</TITLE>
<AUTHOR>    BY HISANOBU OHSE, REUTERS</AUTHOR>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>The dollar's recent signs of stability
have raised hopes that its 27-month decline may be nearly over,
but most currency analysts refuse to commit themselves until
after the June 12 release of U.S. trade data for April.
    "The trade data will be a deciding factor to see if the
dollar has bottomed out," said Jim McGroarty of Discount Corp.
    Since February 1985, the dollar has nearly halved its value
against the yen and the mark as part of an officially
orchestrated campaign to make U.S. goods more competitive on
world markets and redress gaping world trade imbalances.
    On April 27, the dollar fell to a 40-year low of 137.25 yen
but has enjoyed a modest recovery over the last few weeks,
topping 145 yen today for the first time in nearly two months.
    Many economists now believe that the dollar has fallen far
enough to ease the trade deficit's drag on the U.S. economy.
    The U.S. trade gap narrowed to 13.6 billion dlrs in March
from 15.1 billion in February and is expected to show continued
improvement in April in volume, if not in real, terms.
    Keiichi Udagawa of Bank of Tokyo in New York said that if
further progress is reported, the dollar would head back up
towards 150 yen.
    "There is growing consensus that the dollar has bottomed
out for the medium term," added Tom Campbell of First National
Bank of Chicago.
    Other factors supporting this bullish view were growing
expectations that Federal Reserve Chairman Paul Volcker would
be reappointed for a third four-year term in August, Japan's
larger-than-expected economic stimulus package last week and 
more favorably technical chart signals, analysts said.
    The dollar was also aided by Japan's moves to dampen
speculative selling in Tokyo and by reports of active central
bank intervention to support the dollar.
    The Federal Reserve Bank of New York said last week that
the U.S. monetary authorities bought more than four billion
dlrs during the February-April period -- the largest amount
since the dollar crisis of the late 1970's.
    Discount Corp's McGroarty described the Fed's intervention
volume as "impressive".
    James O'Neill of Marine Midland Bank was not so positive,
however: "the dollar has not yet bottomed out. After the trade
data are released, the dollar could fall towards 1.77 marks and
140 yen."
    Similarly, Natsuo Okada of Sumitomo Bank in New York
warned, "I don't think the dollar has bottomed out yet."
    Although the dollar could rise as high as 146.50 yen, Okada
said market impatience about the painstakingly slow decline of
the U.S. trade deficit may lead to renewed pressure.
    Currency analysts also warned about an unfavorable reaction
to the seven-nation economic Summit on June 8 to 10 in Venice,
which is likely to focus on the implementation of previous
commitments rather than yield any fresh initiatives.
    President Reagan said today, "economic policy decisions
made last year in Tokyo and at this year's meetings of Group of
Seven finance ministers in Paris and Washington cannot be
ignored or forgotten."
    "The commitments made at these meetings need to be
translated into action," he added in a speech, celebrating the
40th anniversary of the Marshall aid plan for Europe.
    Now that Tokyo has unveiled its fiscal stimulus package,
analysts expected Bonn and the dollar/mark rate to bear the
brunt of U.S. calls for further action.
    Marine Midland's O'Neill said, "pressure will build up on
Germany to take stimulative action like Japan."
    Some Japanese bank dealers warned that although the dollar
could hold above 145 yen for some months it could also come
under attack again if it seems the latest economic package is
not having much impact on Japan's economy and its trade
surplus. Reflecting a longer-term uncertainty, some some trust
banks and Japanese insurers are keeping their short dollar
positons hedged against exchange losses in their foreign
portfolios, while some others have started covering those short
positions, Japanese bank dealers said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6210" NEWID="17872">
<DATE> 1-JUN-1987 19:42:43.46</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2794&#31;reute
r f BC-COURT-UPHOLDS-BANK-BU   06-01 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>COURT UPHOLDS BANK BUILDING &lt;BB> SELF-TENDER</TITLE>
<DATELINE>    ST. LOUIS, June 1 - </DATELINE><BODY>Bank Building and Equipment Corp of
America said the Delaware Chancery Court denied a stockholder's
request for a preliminary injunction against an
offer for Bank Building stock made by the company and its
employee stock ownership plan and trust.
    Bank Building said the joint offer is for 780,300 shares of
Bank Building stock at 14 dlrs a share. The offer is scheduled
to expire midnight (EDT) on June 2.
    Bank Building also said its board set July 30 as the date
of the company's annual meeting, with a record date of July
six.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6211" NEWID="17873">
<DATE> 1-JUN-1987 19:47:28.52</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2796&#31;reute
u f BC-HARCOURT-&lt;HBJ>-DEBENT   06-01 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>HARCOURT &lt;HBJ> DEBENTURES MAY TRIGGER SUIT</TITLE>
<DATELINE>    NEW YORK, June 1 - </DATELINE><BODY>Holders of convertible subordinated
debentures of Harcourt Brace Jovanovich Inc threatened to sue
the company if they do not get more information about how their
investment will be affected by the company's proposed
recapitalization plan.
    The holders, none of whom was willing to be identified,
said although Harcourt has urged that they convert their shares
to common stock by the June eight record date for a special
dividend, they were unable to determine if it might be better
for them to continue holding the debentures.
   
    "There are rumors that various houses will bring litigation
if we don't get answers," said a Wall Street source. Officials
of Harcourt declined to comment, citing a suit brought by
British publisher Robert Maxwell whose has been trying to
acquire Harcourt.
    Executives of First Boston Inc, Harcourt's financial
adviser, did not return a telephone call seeking comment.
    When it announced its recapitalization May 26 Harcourt
advised holders of the 6-3/8 pct convertible subordinated
debentures due 2011 to convert into common by the June eight
record date for the company's special dividend.
    Harcourt's special dividend pays 40 dlrs per share in cash
plus a security worth 10 dlrs. Holders would also retain stock
in the recapitalized firm.
    The debentures had been convertible at 34 dlrs per share.
Harcourt's May 26 announcement said the conversion price would
be adjusted according to the indenture covering the securities.
Arbitrageurs said the conversion formula yielded a "negative
number" and thus they needed further information from the
company.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6212" NEWID="17874">
<DATE> 1-JUN-1987 19:50:32.51</DATE>
<TOPICS><D>alum</D></TOPICS>
<PLACES><D>venezuela</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f2799&#31;reute
u f BC-venezuela-obtained-30   06-01 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>VENEZUELA OBTAINED 300 MILLION DLRS IN CREDITS</TITLE>
<DATELINE>    Caracas, june 1 - </DATELINE><BODY>venezuela has obtained more than 300 mln
dlrs in financing for industrial projects and has also
increased its lines of credit for import financing, finance
minister manuel azpurua said.
    "we can say that we are achieving the recuperation of
credit, but that cannot be done overnight," azpurua said in a
television interview.
    Azpurua said a credit agreement for 100 mln marks will be
signed this week with the german state bank kreditanstalt fur
wiederaufbau (kfw), to finance an expansion of the state
aluminum company venalum.
    The credit will be divided into two separate agreements,
one for 85 mln marks with an interest rate of 6.13 pct, and
another for 15 mln marks, at 6.20 pct. Azpurua said financing
had also been obtained for the expansion of alcasa, another
state aluminum company, as well as for projects in the state
steel and petrochemical industries. He did not provide details.
    Yesterday, after a meeting of leaders of the ruling accion
democratica party, azpurua said venezuela had obtained two new
credits of five mln dlrs each for export financing, one from
credit du nord of france and the other from the midland bank of
great britain.
    The finance minister's statements came as the government is
under sharp criticism for failing to obtain new credits,
despite its insistence on repaying the foreign debt according
to the terms of a rescheduling accord reached last february.
    Azpurua and other senior economic officals returned from a
trip to tokyo last week in which they hoped to acquire new
credits for industrial expansions, but no agreements were
reached.
    Japanese officials also refused to allow a new issue of
venezuelan debt bonds because until the country regains its
'triple a' credit classification.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6213" NEWID="17875">
<DATE> 1-JUN-1987 22:51:47.01</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>south-korea</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f2899&#31;reute
u f BC-SOUTH-KOREA-INCREASES   06-01 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTH KOREA INCREASES DUTY ON CRUDE IMPORTS</TITLE>
<DATELINE>    SEOUL, June 2 - </DATELINE><BODY>South Korea has increased its duty on crude
oil imports to 4.29 dlrs a barrel from 3.29 dlrs, effective
today, the energy ministry said.
    The duty, to raise funds for special energy projects, was
adjusted after average crude import prices rose to 16.85 dlrs a
barrel in April, from 16.65 dlrs in March and 13.08 dlrs in
April 1986, ministry officials said.
    A separate 24.5 pct import tax on crude oil is unchanged.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6214" NEWID="17876">
<DATE> 1-JUN-1987 22:53:34.35</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f2900&#31;reute
b f BC-EQUITICORP-TASMAN-TO   06-01 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>EQUITICORP TASMAN TO BID FOR MONIER LTD</TITLE>
<DATELINE>    SYDNEY, June 2 - </DATELINE><BODY>&lt;Equiticorp Tasman Ltd> (ETL) said it will
offer 4.15 dlrs a share cash for all the issued capital of
Monier Ltd &lt;MNRA.S>, currently the subject of a 3.80 dlrs a
share bid by CSR Ltd &lt;CSRA.S>.
    Alternatively, ETL will offer three shares plus 82 cents
cash for each Monier share, it said in a statement.
    As previously reported, ETL moved into the market for
Monier shares last week, taking its stake to 13.7 pct by
Friday.
    It now holds 14.99 pct, the maximum allowed without Foreign
Investment Review Board (FIRB) approval. ETL is classified as
foreign because of its New Zealand base.
    The ETL cash offer values Monier's issued capital of 156.28
mln shares at 649 mln dlrs, against 593 mln for the CSR bid.
    Based on the current price of ETL shares of 1.05 dlrs, the
alternative is worth 3.97 dlrs per share, but ETL said the
value placed on its shares for the offer aproximates to the
diluted asset backing of ETL as at March 31.
    ETL said the offer will have no minimum acceptance
conditions and will be subject to Australian foreign investment
and U.S. Hart-Scott-Rodino anti-trust clearances.
    ETL chairman Allan Hawkins said in the statement that the
shareholding in Monier was a long term investment.
    ETL and its &lt;Feltex International Ltd> associate have
targetted the building products sector as an area of expansion
and Monier fits well with this aim, he added.
    Monier chairman Bill Locke said in a separate statement
that the independent directors of Monier intend to recommend
acceptance of the ETL bid in the absence of a higher bid.
    He also said Monier will not now proceed with the
one-for-two bonus issue announced with its interim results on
March 19 in view of the proposed takeover bids.
    As previously reported, the CSR offer involves a complex
put and call option deal with Monier's major shareholder,
Redland Plc &lt;RDLD.L>, which gives Redland the choice of
accepting the CSR offer for its 49.8 pct stake or moving to
50.1 pct within six months of the bid closing.
    CSR officials have made it clear that they see Redland
taking the second option, resulting in the two companies
running Monier as a joint venture.
    CSR officials have also said they had no intention of
raising the company's bid for Monier after ETL's intervention
became public last week.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6215" NEWID="17877">
<DATE> 1-JUN-1987 22:58:42.05</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>venezuela</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI
&#22;&#22;&#1;f2903&#31;reute
u f BC-VENEZUELA-TIGHTENS-FO   06-01 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>VENEZUELA TIGHTENS FOREIGN EXCHANGE RESTRICTIONS</TITLE>
<DATELINE>    PANAMA CITY, June 1 - </DATELINE><BODY>Venezuela's central bank has ordered
Venezuelan banks and exchange houses to cease foreign exchange
operations with brokers based outside the country, according to
a copy of a central bank telex made available to Reuters.
    The measure, confirmed by a brokerage firm here, has
effectively cut off all foreign participation in Venezuela's
volatile currency market.
    The telex, issued on May 19, was signed by Carlos Hernandez
Delfino, manager of the bank's department of international
operations.
    The telex said the restriction on business with foreign
brokers is in line with an earlier measure prohibiting foreign
exchange houses from selling dollars or other foreign
currencies to anyone living outside Venezuela.
    In recent weeks the Venezuelan government has denied
rumours that it intends to impose foreign exchange controls to
prop up the weakening bolivar.
    But brokers said the central bank's move is seen as a de
facto currency control. "It is definitely a control in the sense
that there's no longer complete freedom to operate," one broker
here said.
    "Gradually they're imposing restrictions and the direction
is towards complete control," the broker said.
    The broker, who requested anonymity, said virtually all his
Venezuelan customers had stopped doing business with him since
the central bank issued the telex and followed it up with
telephone calls.
    He said that before the restriction was imposed the volume
of his firm's transactions with Venezuela was about 10 mln dlrs
a day. "It was a frenetic market, it was really quite active," he
said.
    The broker said he saw no logical explanation for the
prohibition because his firm only acted act as an intermediary
between Venezuelan brokers, exchange houses and banks.
    "We weren't buying dollars from Venezuelans, that's
ridiculous," he said. "They've been on a rampage against
foreigners."
    The broker noted that two months ago Venezuela's central
bank quietly announced that banks doing foreign exchange
business outside Venezuela would have to respect a new 200 pct
reserve requirement.
    In February, the central bank also prohibited trading in
bolivar futures, the broker said.
    "We used to have a forward market," he said. "For a small
currency it was miraculous."
    He said the bolivar, which averaged 20.29 to the U.S.
Dollar in 1986, would continue to slip from its current range
of 28.35 to 28.50 because the central bank was rapidly running
out of foreign reserves to support the currency on the free
market.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="6216" NEWID="17878">
<DATE> 1-JUN-1987 23:47:44.48</DATE>
<TOPICS><D>gas</D></TOPICS>
<PLACES><D>singapore</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f2932&#31;reute
u f BC-ESSO-RAISES-SINGAPORE   06-01 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>ESSO RAISES SINGAPORE PETROL PUMP PRICES</TITLE>
<DATELINE>    SINGAPORE, June 2 - </DATELINE><BODY>Esso Singapore Pte Ltd said it raised
pump prices of petrol from today.
    New prices for 0.15 gm lead grades are 97.0 cents/litre for
97 octane and 90.8 cents for 95 octane.
    Other Singapore oil companies announced yesterday that they
would revise their pump prices effective today.
    Shell Eastern Petroleum Pte Ltd, Mobil Oil Singapore Pte
Ltd, Caltex Asia Ltd, Singapore Petroleum Co Pte Ltd and BP
Singapore Pte Ltd are pricing 97 octane at 96.8 cents. Shell,
Mobil and Caltex are pricing 92 octane at 90.2 cents, and SPC
and BP at 90.6 cents.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7324" NEWID="17879">
<DATE> 2-JUN-1987 00:14:22.00</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f0009&#31;reute
u f BC-CHINA-FOREST-FIRES-FL   06-02 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA FOREST FIRES FLARE AGAIN</TITLE>
<DATELINE>    PEKING, June 2 - </DATELINE><BODY>Forest fires in north-east China had
flared again, threatening settlements and virgin forests so far
untouched by the blaze, the official press said.
    The New China News Agency said eight new fires had been
discovered in the Inner Mongolia region and were rapidly
spreading north and west. It said rain forecast for the region
was expected to help contain them.
    The China Daily said fires near the town of Tahe to the
east had re-kindled and were moving towards nearby logging
camps. Soldiers have been called in to fight the blaze.
    The fires which began on May 6 have killed 191 people.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7325" NEWID="17880">
<DATE> 2-JUN-1987 00:14:33.10</DATE>
<TOPICS><D>naphtha</D></TOPICS>
<PLACES><D>south-korea</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0010&#31;reute
u f BC-SOUTH-KOREA-RAISES-NA   06-02 0034</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTH KOREA RAISES NAPHTHA PRICE</TITLE>
<DATELINE>    SEOUL, June 2 - </DATELINE><BODY>South Korea raised its pre-tax ex-factory
naphtha price to 104.21 won per litre from 103.97 won,
effective today, energy ministry officials said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7326" NEWID="17881">
<DATE> 2-JUN-1987 00:35:43.34</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI
&#22;&#22;&#1;f0020&#31;reute
f f BC-Tokyo---Bundesbank's   06-02 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Tokyo - Bundesbank's Schlesinger sees no reason to lower interest rates
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7327" NEWID="17882">
<DATE> 2-JUN-1987 00:38:09.76</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI
&#22;&#22;&#1;f0021&#31;reute
f f BC-Tokyo-West-German-eco   06-02 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Tokyo-West German economy contracted 1/2 to one pct in 1st qtr - Schlesinger
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7328" NEWID="17883">
<DATE> 2-JUN-1987 00:41:31.50</DATE>
<TOPICS><D>interest</D><D>gnp</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI
&#22;&#22;&#1;f0023&#31;reute
b f BC-NO-REASON-TO-CUT-RATE   06-02 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>NO REASON TO CUT RATES - BUNDESBANK'S SCHLESINGER</TITLE>
<AUTHOR>    By Rich Miller, Reuters</AUTHOR>
<DATELINE>    TOKYO, June 2 - </DATELINE><BODY>Bundesbank vice president Helmut
Schlesinger said he saw no reason to lower interest rates now.
    With money supply growth showing no sign of slowing down in
May and the dollar stable or even rising against the mark,
Schlesinger told Reuters that he was not convinced that a
further cut in interest rates was needed.
    The economy is picking up, after contracting by a
seasonally adjusted 1/2 to one pct in the first quarter from
the fourth, he added. "We may have an increase in gnp starting
in the second quarter," he said in an interview.
    Concerned by the first quarter downturn, the U.S. Has been
pressing West Germany to pump up its economy and boost its
imports, either through fiscal or monetary policy.
    Schlesinger said the contraction in the first quarter was
mainly due to adverse weather conditions, just as occured in
1986. Year-on-year growth was thus about two pct.
    He estimated that economic growth for the year as a whole
would probably be between one and two pct.
   "It is not a question of monetary conditions if domestic
demand does not grow strongly," he said, noting that interest
rates are at historically low levels and funds are ample.
    Schlesinger said he saw no signs that central bank money
stock growth was slowing down from its recent year-on-year pace
of 7-1/2 to eight pct, well above the Bundesbank's three to six
pct target.
    He said the target could still be achieved but much will
depend on the direction of long-term capital flows. Heavy
inflows, particularly in January around the time of the EMS
revaluation, boosted domestic money supply.
    "There is still a certain hope that the net inflow of
foreign money can be diminished or can even be a little bit
reversed," Schlesinger said.
    A major reason for the inflows was the market's conviction
that the mark was headed higher. "As we can see from the market,
expectations for a further revaluation of the deutschemark have
diminished," Schlesinger said.
    The recent widening of interest rate differentials, the
fact that the dollar has fallen sharply in a very short period
and an improvement in real trade balances have all combined
towards stabilizing the dollar, he said.
    Asked if central banks might act to prevent a sharp dollar
rise, as the U.S. Did in March when the dollar rose above 1.87
marks, he said this would depend on the circumstances.
    At midday here, the dollar stood at 1.8340/45 marks.
    "Central banks are always in contact about these
fluctuations but I cannot give any answer how they would react,"
Schelsinger said.
    "One has to look at how it (the market) is moving," he said,
adding, "It is not only our own case, it is also the American
case."
    He said that the West German export industry has been hit
hard by the dollar's sharp fall and would probably like to see
some correction now. "But it wouldn't be good to have short-term
fluctuations," he said. "Let us wait and see."
    "It is mainly the strength of the (dollar) fall in a very
short period which was a little bit of a shock, than the level
(of rates) as such," Schlesinger said.
    The sharp rise of the mark, coupled with weak prices of
such key commodities as oil, had a favourable impact on West
German inflation down year.
    Although there have recently been signs of inflation
picking up, he said that this was due to changes in key
commodity prices. The underlying inflation rate this year would
be unchanged, at about one to 1-1/2 pct, he said.
    Schlesinger said the problem of rapid money supply growth
was longer term, in that the economy was building up the
potential for a possible eventual resurgence of inflation.
    The above-target growth of money supply over the past 16
months had prompted some discussion of the usefulness of
targets themselves, a matter which might be taken up at the
mid-year meeting of the Bundesbank's council, Schlesigner said.
    But he added: "I don't see any great pressure to go away
from it."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7329" NEWID="17884">
<DATE> 2-JUN-1987 01:00:58.60</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0043&#31;reute
r f BC-NIXDORF-PLANS-TO-EXPA   06-02 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>NIXDORF PLANS TO EXPAND U.S. BUSINESS</TITLE>
<DATELINE>    PADERBORN, West Germany, June 2 - </DATELINE><BODY>Nixdorf Computer AG
&lt;NIXG.F> plans a sharp expansion of its activities in the
United States, deputy management board chairman Arno Bohn said.
    He told a news conference that in the medium term Nixdorf
wanted to raise its U.S. Turnover to one billion marks from a
current 300 mln and aimed to employ some 5,000 people in its
U.S. Operations, compared with 1,300 now.
    Nixdorf's world group turnover was 4.50 billion marks in
1986. Bohn said a major order last year from a U.S. Retailer
was a decisive element behind current plans for expansion.
    Retail chain Montgomery Ward and Co Inc, a unit of Mobil
Corp &lt;MOB>, awarded a 100 mln dlr order to Nixdorf in July last
year for point-of-sales computer terminals.
    Bohn said that by 1990 there should be a total 15,000 cash
terminals and 500 computer terminals in place in all of the 290
stores of Montgomery Ward.
    Nixdorf has said previously that, more important than the
supply of the hardware for these systems, is the fact that
Nixdorf is also providing the relevant software.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7330" NEWID="17885">
<DATE> 2-JUN-1987 02:15:10.69</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0079&#31;reute
f f BC-Fujitsu-Ltd-group-net   06-02 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Fujitsu Ltd group net profit 21.61 billion yen vs 38.93 billion (year to Mar 31)
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7331" NEWID="17886">
<DATE> 2-JUN-1987 02:16:51.07</DATE>
<TOPICS><D>crude</D><D>acq</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0080&#31;reute
u f BC-JAPAN-OIL-INDUSTRY-DE   06-02 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN OIL INDUSTRY DECONTROL MAY LEAD TO MERGERS</TITLE>
<AUTHOR>    By Masaru Sato, Reuters</AUTHOR>
<DATELINE>    TOKYO, June 2 - </DATELINE><BODY>Deregulation of Japan's oil industry could
mean hardship for smaller firms and lead to their merging into
bigger refining and marketing groups, industry sources said.
    They said the relaxation of controls was now under review
by the Petroleum Council, an advisory panel to the Ministry of
International Trade and Industry (MITI).
    A spokesman for a major firm said, "Deregulation would bring
about a reorganization. If it's a by-product of freer
competition, we have no choice but to accept it."
    The Council is due to close its discussions on June 12.
    The sources said the Council was likely to tell MITI it
should end its 50 year-old protection of the industry. It
should cut capacity to 3.8 mln barrels per day, about 75 pct of
current capacity. Quotas should end for crude throughput and
gasoline output, and oil tariffs should be abolished.
    They said deregulation was vital to promote more
competition and efficiency, and most saw it as inevitable.
    "Deregulation is taking place everywhere. Now it's our turn
to see if we can survive cut-throat competition," said a source
at one major Japanese oil company.
    A spokesman for a smaller refiner said, "We'll have a hard
time surviving, but that's something we must go through."
    "In addition to our streamlining and efficiency programs for
the oil division, we will exert efforts towards branching out
further into other lines such as real estate and travel
agencies," he said.
    Larger companies are also streamlining. Nippon Oil Co Ltd
which had the largest share of refined products sales in the
Japanese market in fiscal 1985, cut nine pct of its refining
capacity in fiscal 1986.
    Cosmo Oil Co Ltd, the third largest seller of oil products
in 1985, cut its workforce by some 20 pct last year, a
spokesman for the company said.
    Between 1984 and 1986, on the recommendation of the
Council, 13 oil companies were integrated into 11 companies
within seven refining and marketing groups to improve the
efficiency of the industry.
    Oil industry sources said this structure was now likely to
be streamlined further into five refining groups.
    "MITI means business. It will urge the major seven groups to
merge into five to build up their muscles," a source said.
    A MITI official told Reuters he did not rule out the
possibility of further mergers within the Japanese oil industry
in the event of the relaxation of oil controls.
    He declined to officially confirm or deny that the
Petroleum Council had recommended deregulatory measures but
said that in principal MITI would encourage a move towards
deregulation.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7332" NEWID="17887">
<DATE> 2-JUN-1987 02:30:37.13</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0088&#31;reute
b f BC-FUJITSU-LTD-&lt;ITSU.T>   06-02 0047</UNKNOWN>
<TEXT>&#2;
<TITLE>FUJITSU LTD &lt;ITSU.T> GROUP YEAR ENDED MARCH 31</TITLE>
<DATELINE>    TOKYO, June 2 -
    </DATELINE><BODY>Group shr - 13.56 yen vs 27.06
    Net - 21.61 billion vs 38.93 billion
    Current - 37.66 billion vs 46.70 billion
    Operating - 57.37 billion vs 79.91 billion
    Sales - 1,789 billion vs 1,692 billion
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7333" NEWID="17888">
<DATE> 2-JUN-1987 02:32:04.60</DATE>
<TOPICS><D>ship</D><D>crude</D></TOPICS>
<PLACES><D>japan</D><D>iran</D><D>iraq</D></PLACES>
<PEOPLE><D>nakasone</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f0090&#31;reute
u f BC-JAPAN-READY-TO-USE-DI   06-02 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN READY TO USE DIPLOMACY FOR GULF SECURITY</TITLE>
<DATELINE>    TOKYO, June 2 - </DATELINE><BODY>Japan was ready to use diplomacy to help
maintain the security of the Gulf, Prime Minister Yasuhiro
Nakasone said.
    But he told reporters Japan should not cut its lines of
communication with Iran and Iraq because its policy was to take
a broad political stance. Officials of the foreign ministry
said Japan had maintained good relations with both Iran and
Iraq, which have been at war since September 1980.
    Last week Nakasone ruled out Japanese military or financial
help to patrol the waters of the Gulf. About 60 pct of Japan's
crude oil passes through the waterway.
    President Reagan said yesterday the threat to oil routes in
the Gulf from attacks by Iran and Iraq was high on the agenda
for next week's G-7 summit in Venice.
    Reagan has approved plans for the United States to step up
its naval presence in the Gulf despite congressional
expressions of concern and he has called on U.S. Allies to help
maintain freedom of navigation.
    Japan's constitution prevents its armed forces from being
deployed overseas. Nakasone has said that Washington
understands this problem.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7334" NEWID="17889">
<DATE> 2-JUN-1987 02:46:50.85</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0100&#31;reute
u f BC-FUJITSU-GROUP-FORECAS   06-02 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>FUJITSU GROUP FORECASTS 75 PCT RISE IN NET PROFITS</TITLE>
<DATELINE>    TOKYO, June 2 - </DATELINE><BODY>Fujitsu Ltd &lt;ITSU.T> has forecast that
group net profits will rise 75.9 pct in the current year to 38
billion yen and current profits will rise 72.6 pct to 65
billion, the company said in its earnings statement.
    Sales are expected to rise 14 pct to 2,040 billion yen in
the same period, it said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7335" NEWID="17890">
<DATE> 2-JUN-1987 03:16:30.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f0132&#31;reute
u f BC-FOOD-SURPLUSES-OBSCUR   06-02 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>FOOD SURPLUSES OBSCURE CONTINUING STARVATION</TITLE>
<DATELINE>    PEKING, June 2 - </DATELINE><BODY>Western bickering over food surpluses is
obscuring the fact that starvation is now a bigger problem than
ever before, a senior World Food Council official said.
    Alain Vidal Naquet, head of external relations for the
council, told a news conference that a meeting organised by the
United Nations body in Peking next week would try to force
governments to take a more serious attitude to the food crisis.
    "The world is facing two crises -- poverty in developing
countries and paradoxically an overflow of food surpluses in
the northern part of the world," Naquet said.
    "This is affecting dangerously the balance of the
international economy," Naquet said.
    He said it was ironic that the leaders of the western world
would discuss food over-production during the summit in Venice
next week at the same time as the Peking meeting would be
discussing food shortages.
    "Hunger is not a problem kept in mind by governments. The
urgency of the problem is hidden by the (food surplus and
trade) problems of the rich countries," he said. "There are more
people today in the world lacking enough food than there were
in 1974 (the year of the World Food Conference in Rome)."
     Progress has been made in some parts of the world,
especially Asia, but Naquet said that increasing food
production and aid from the developed world were not in
themselves the answer to the world food problem.
    He said developing countries should not rely entirely on
aid from developed countries and should increase cooperation
amongst themselves to increase local food production and
improve distribution of existing food stocks.
    More than 30 government ministers are expected to attend
the Peking meeting, including delegations from Third World
countries, the U.S., The Soviet Union and Europe.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7336" NEWID="17891">
<DATE> 2-JUN-1987 03:23:57.27</DATE>
<TOPICS></TOPICS>
<PLACES><D>singapore</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI
&#22;&#22;&#1;f0145&#31;reute
u f BC-SINGAPORE-GOVERNMENT   06-02 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>SINGAPORE GOVERNMENT SECURITIES MARKET STARTS WELL</TITLE>
<AUTHOR>    By Tay Liam Hwee, Reuters</AUTHOR>
<DATELINE>    SINGAPORE, June 2 - </DATELINE><BODY>Singapore's government securities
market had performed well in volume terms since its launch on
May 7 but there were constraints to further growth, bankers and
dealers said.
    Lawrence Yeo, director of securities trading and
distribution for Citicorp Investment Bank (Singapore) Ltd, told
Reuters there was a shortage of non-professional corporate,
institutional and private investors trading in fixed income
securities, especially those with long term funds. The market
trades treasury bills and bonds.
    Available liquid funds were still moving into traditional
investments because share prices were rising and returns were
low on fixed income securities, Yeo said.
    He said the lack of market information and investment
education for potential investors were limiting factors.
    Referring to the securitisation of corporate debt, he said
"If the saving between a traditional bank loan and a public
offering is not great, investors prefer to take the loan
because it does not require the public disclosure of
information."
    William K.K. Wong, managing director of Indosuez Asia
(Singapore) Ltd, said institutional investors this year had
focussed on the equity market rather than bonds.
    Bankers and analysts said the new market would pave the way
for the development of corporate bond issues.
    The bankers said development of an active fixed income
securities market would encourage more private and public
companies to issue debt instruments.
    They said they hoped the risk-free government bond yield
curve would provide a benchmark for corporate bonds and other
debt instruments.
    Economists and bankers said the recent share offer by
Sembawang Maritime Ltd, which was oversubscribed 92.3 times and
which raked in a record 6.80 billion dlrs, showed the flow of
liquidity into the share market. The previous record of 1.96
billion dlrs was set in April by Avimo Singapore Ltd.
    Wong said total average daily turnover of the government
securities market had fallen sharply due to share issues.
    He said there were at most seven active participants,
mainly banks. Other financial institutions were on the
sidelines because the securities market concept was new.
    Wong said the recent revision of the minimum liquid asset
ratio to 18 pct allows banks to restructure liquid assets and
inject more long term funds into the securities market.
    One of the primary dealers, United Overseas Bank Ltd, has
an average daily turnover of over 100 mln dlrs but this could
rise to 300 mln on active option days, deputy manager Ho Kian
Fah told Reuters.
    Ho said major participants, besides the primary and
registered dealers, were mainly U.S. And U.K. Banks which
showed a willingness to quote prices.
    Loh Hoon Sun, general manager of the Overseas Union Bank
Ltd, said he forsees active trading and bidding of new
offerings in pre-issued business. Loh estimated OUB's average
turnover to be around 50 mln to 100 mln dlrs on active days.
    Dealers said a significant factor was that the t-bill and
money market rate yield gap had narrowed, making rates for
bills more competitive with those in the money market.
    Tan Mong Tong, executive director of National Discount Co
Ltd, told reporters the new securities market would enable
banks, statutory bodies, insurance companies to manage their
funds more flexibly.
    The Monetary Authority of Singapore (MAS) plans to issue
eight to 10.5 billion dlrs of taxable instruments in the first
year and a gross issue of 35 billion dlrs over five years.
    The first issue of 300 mln dlrs worth of T-bills by the MAS
was 1.9 times subscribed while the first issue of 500 mln dlrs
worth of five-year bonds was three times oversubscribed. The
recent issue of 300 mln dlrs of two-year bonds received 1.17
billion dlrs in applications.
    The new securities market operated by MAS on an electronic
book entry system will provide new investment outlets intended
to develop Singapore's capital market, bankers said.
    But the market is new and long term success and expansion
will depend on how the MAS and the primary and registered
dealers stimulate activity, the bankers and analysts said.
    They said it was necessary to promote liquidity because
investors did not negotiate frequently enough and tended to
hold on to their investments.
    They advocated the establishment of a market makers
association to help investors understand the market and its
instruments as a lack of speculative activity limits market
turnover and supply.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7337" NEWID="17892">
<DATE> 2-JUN-1987 03:26:30.75</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>cyprus</D><D>oman</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0150&#31;reute
u f BC-MEES-NEWSLETTER-SAYS   06-02 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>MEES NEWSLETTER SAYS OMAN OFFERS OIL DISCOUNTS</TITLE>
<DATELINE>     NICOSIA, June 2 - </DATELINE><BODY>Oman has granted term crude oil
customers retroactive discounts from official prices of 30 to
38 cents per barrel on liftings made during February, March and
April, the weekly newsletter Middle East Economic Survey (MEES)
said.
     MEES said the price adjustments, arrived at through
negotiations between the Omani oil ministry and companies
concerned, are designed to compensate for the difference
between market-related prices and the official price of 17.63
dlrs per barrel adopted by non-OPEC Oman since February.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7338" NEWID="17893">
<DATE> 2-JUN-1987 03:27:05.22</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f0153&#31;reute
u f BC-UK-CONSERVATIVES-LEAD   06-02 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>UK CONSERVATIVES LEAD LABOUR BY SEVEN POINTS, POLL</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>British Prime Minister Margaret Thatcher's
Conservatives lead the opposition Labour party by seven
percentage points in the June 11 election campaign, according
to a public opinion poll today.
    The Harris poll on the TV-AM breakfast television show gave
Thatcher's Conservative Party 42 pct, Labour 35 pct and the
centrist Alliance 21 pct.
    This was a one point drop for the Conservatives and one
point rise for the Alliance since the same organisation's
survey yesterday.
    However, a Marplan poll in the Today newspaper had the
Conservatives 11 points ahead. It gave them 44 pct, Labour 33
pct and the Alliance 21 pct.
    All poll results since the campaign began have shown the
Conservatives in the lead. An aggregate of recent surveys
showed they held a nine to 10 point lead over Labour, enough
for a comfortable election victory.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7339" NEWID="17894">
<DATE> 2-JUN-1987 03:31:14.04</DATE>
<TOPICS><D>rubber</D></TOPICS>
<PLACES><D>malaysia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T
&#22;&#22;&#1;f0161&#31;reute
u f BC-MALAYSIAN-RUBBER-OUTP   06-02 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>MALAYSIAN RUBBER OUTPUT RECOVERS FROM WINTERING</TITLE>
<DATELINE>    KUALA LUMPUR, June 2 - </DATELINE><BODY>Malaysian rubber production should
return to normal levels this month after a hard wintering
season, the Malaysian Rubber Exchange and Licensing Board said
in its latest review. "As packers and remillers expect
production to recover to normal levels in June, sellers will
remain reserved in the near future," the review, dated May 14,
said. Many consumers are holding off, waiting for the best time
to buy.
    The market is mindful of approaching summer holidays in
industrial countries and there is an air of uncertainty beyond
July, it said. It gave no figures for the output drop.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7340" NEWID="17895">
<DATE> 2-JUN-1987 03:37:33.96</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0175&#31;reute
u f BC-JAPAN-TO-USE-TAX-CARR   06-02 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN TO USE TAX CARRY-OVER TO HELP FUND PACKAGE</TITLE>
<DATELINE>    TOKYO, June 2 - </DATELINE><BODY>Government tax revenues for the 1986/87
 year ended March 31 were more than 600 billion yen higher than
forecast and could be used to help fund the economic package
announced last week, Finance Ministry sources said.
    The final figure for 1986/87 will not be available until
next month, but some local newspapers speculated that the
carryover could be as much as 1,000 billion yen.
    The government is due to introduce a supplementary budget
during an extarordinary parliamentary session expected to start
in July. The budget will be used to finance the central
government share of last Friday's emergency economic package.
    That package totalled more than 6,000 billion yen,
including more than 1,000 billion in tax cuts.
    Government officials including Finance Minister Kiichi
Miyazawa have previously said possible revenue sources for tax
cuts include the tax revenue carryover from 1986/87 and
proceeds from the sale of shares in the privatized Nippon
Telegraph and Telephone Corp.
    The sale of 1.95 mln NTT shares in 1986/87 left about 450
billion yen available for use as a revenue source for tax cuts,
the sources said. Another 1.95 mln are expected to be sold in
the current fiscal year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7341" NEWID="17896">
<DATE> 2-JUN-1987 03:51:35.56</DATE>
<TOPICS><D>gnp</D></TOPICS>
<PLACES><D>philippines</D></PLACES>
<PEOPLE><D>fernandez</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI
&#22;&#22;&#1;f0192&#31;reute
u f BC-CENTRAL-BANK-HEAD-SAY   06-02 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>CENTRAL BANK HEAD SAYS PHILIPPINE GROWTH ON TARGET</TITLE>
<AUTHOR>    By Chaitanya Kalbag, Reuters</AUTHOR>
<DATELINE>    MANILA, June 2 - </DATELINE><BODY>The Philippines' first quarter growth
figures released yesterday indicated the government was likely
to achieve its 1987 targets, Central Bank governor Jose
Fernandez said in an interview.
    The National Economic Development Authority (NEDA)
announced yesterday gross domestic product (GDP) grew 5.78 pct
and gross national product (GNP) 5.53 pct in the first quarter
from a year earlier.
    "I don't see anything on the horizon that should cut it
(growth) short," Fernandez said.
     NEDA said GNP had grown 3.56 pct and GDP 3.25 pct in the
fourth quarter of 1986 from a year earlier. Last year's GNP
growth, put earlier at 0.13 pct, was revised to 1.51 pct.
    "Certainly I do not see any shortage in external resources
and if GNP growth continues at this level I would assume that
domestic resources on the fiscal side would be generated and
would not be a stumbling block," Fernandez said.
    "I think even before the figures came out, simply looking at
key indicators, such as consumption of fuel oil and power,
showed that the economy was on a different track from last
year," he said.
    Fernandez said consumption tended to be heavier in the
first and second quarters because of the dry weather, and it
could drop off in the third quarter.
    He said the most significant sign of recovery lay in the
manufacturing sector, which grew by 9.64 pct, after declines in
1985 and a slow turnaround in the second half of 1986.
    "That is not a seasonal thing, it is secular," he said.
    He said the government had met all monetary targets set for
the first quarter in consultation with the International
Monetary Fund (IMF). It expected to draw down the fourth
tranche from its 198 mln SDR stand-by arrangement soon.
    The Philippines has so far drawn three tranches totalling
58 mln SDRs from the arrangement expiring on April 23, 1988.
Fernandez said an IMF mission would visit here in July or
August to review performance in the January-June period.
    He said IMF repayments were projected to total 1.56 billion
dlrs over the 1987-92 period and drawings only 236 mln dlrs.
Repayments were inevitable and many countries would find their
net repayments to the IMF rising in the next few years.
    "It means that since there will be a net drain on ODA
(official development assistance) accounts the commercial
banking system will be requested to hold the line," he said.
    It is an internal constraint that exists because the IMF
debt cannot be rescheduled, Fernandez said.
    The Philippines rescheduled 10.3 billion dlrs of its 28
billion dlr foreign commercial debt in March.
    Fernandez said Central Bank bills, introduced in March 1984
to mop up excess liquidity, had peaked at 43.1 billion pesos in
April 1986. But their unwinding on maturity dates, started in
October last year, had almost been completed.
    He said auctions of treasury bills, whose outstanding level
touched 95.44 billion pesos on May 20, were going well.
"Treasury bills will remain a basic monetary tool," he said.
    Commenting on the country's foreign debt Fernandez said, "I
think the Philippine debt stock looms large because our own
receipts from exports have not taken the same kind of leap
forward as might have been suitable."
    The foreign debt is projected by the Central Bank to reach
29.04 billion dlrs by the end of 1987.
    NEDA said exports totalled 1.2 billion dlrs in the first
quarter, while imports were 1.4 billion dlrs.
    Fernandez said the government had targeted GNP growth of
between six and 6.5 pct this year. He cautioned that while
growth so far was high the targets had not yet been achieved.
    Fernandez said he saw no merit in arguments by some
economists that the peso, currently pegged at 20.50 to the
dollar, ought to be devalued to make the country's exports more
competitive.
    "By being pegged to the dollar on a basket basis the peso
has already substantially devalued against all of the country's
trading partners," he said.
    On the proposed Omnibus Investment Code, he said he was
opposed to a clause which would allow the unrestricted
repatriation abroad of investments made during the first two
years after the imposition of the Code.
    The imposition of the Code, scheduled for last January, has
been delayed by objections from some business groups.
    "I think any central bank, certainly this one after the
events of the past two or two and a half years, has to be
prudent. This is not the time to throw all caution to the winds
and I'm not about to do that," Fernandez said.
    "It would be ideal if we reach a point where movement of
capital and earnings can be free," he said.
    "We have had one year of reasonably good results. Certainly
we continue to have a fairly heavy drain on our external
availabilities simply by servicing our debts."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7342" NEWID="17897">
<DATE> 2-JUN-1987 03:57:05.90</DATE>
<TOPICS><D>ipi</D></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0198&#31;reute
u f BC-BELGIAN-FEBRUARY-INDU   06-02 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>BELGIAN FEBRUARY INDUSTRY OUTPUT DOWN ON YEAR AGO</TITLE>
<DATELINE>    BRUSSELS, June 2 - </DATELINE><BODY>Belgian industrial production, excluding
construction and adjusted for seasonal and calendar influences,
was provisionally 0.6 pct lower in February than a year
earlier, the National Statistics Office said.
    Output in February was, however, 5.9 pct higher than in
January.
    A spokeswoman for the office said the production index,
base 1980, rose to a provisional 108.8 in February from a
provisional 102.7 in January, slightly revised from the 102.8
originally estimated. In February last year the index stood at
109.5.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7343" NEWID="17898">
<DATE> 2-JUN-1987 04:01:21.86</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0210&#31;reute
f f BC-******   06-02 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE> Bundesbank sets 28-day securities repurchase tender at minimum 3.50 pct
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7344" NEWID="17899">
<DATE> 2-JUN-1987 04:03:11.96</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0217&#31;reute
b f BC-BUNDESBANK-SETS-NEW-R   06-02 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>BUNDESBANK SETS NEW REPURCHASE TENDER</TITLE>
<DATELINE>    FRANKFURT, June 2 - </DATELINE><BODY>The Bundesbank set a new tender for a
28-day securities repurchase agreement, offering banks
liquidity aid at a minimum bid rate of 3.50 pct, a central bank
spokesman said.
    Banks must make their bids by 1400 GMT today and funds
allocated will be credited to accounts tomorrow. Banks must
repurchase securities pledged on July 1.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7345" NEWID="17900">
<DATE> 2-JUN-1987 04:04:02.22</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0220&#31;reute
u f BC-STOREHOUSE-REPORTS-HI   06-02 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>STOREHOUSE REPORTS HIGHER PROFITS IN 1986/87</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>53 weeks to April 4, 1987
    Share - basic 22.2p vs 21.6p
          - fully-diluted 21.6p vs 19.9p
    Final dividend 6.3p vs 5.7p, making 8.6p vs 7.7p
    Pretax profits 129.2 mln stg vs 116.0 mln
    Turnover 1,088.1 mln stg vs 968.4 mln
    Profit from retail operations 133.3 mln stg vs 115.6 mln
    Tax 40.1 mln stg vs 36.5 mln
    Profit after tax 89.1 mln stg vs 79.5 mln
    Extraordinary items debit 0.7 mln stg vs debit 24 mln
    NOTE - full name is Storehouse Plc &lt;STHL.L>
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7346" NEWID="17901">
<DATE> 2-JUN-1987 04:05:00.13</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0222&#31;reute
u f BC-NORCROS-PROFITS-ADVAN   06-02 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>NORCROS PROFITS ADVANCE IN 1986/87</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>Year to March 31
    Shr 28.0p vs 21.4p
    Final dividend 9p vs 6.5p making 12p vs 9.3p
    Pretax profit 53.16 mln stg vs 45.12 mln
    Turnover 641.1 mln stg vs 639.7 mln
    Group operating profit 57.63 mln stg vs 49.06 mln
    Share of associates' profits 1.33 mln stg vs 3.87 mln
    Investment income 1.59 mln stg vs 2.19 mln
    Interest payable 7.38 mln stg vs 10.01 mln
    Tax 16.48 mln stg vs 17.60 mln
    Leaving 36.68 mln vs 27.51
    Minorities debit 1.58 mln stg vs debit 1.39 mln
    Extraordinary items credit 2.95 mln stg vs debit 8.12 mln
    Operating profits breakdown, by class of business,
    - building materials manufacture 23.7 mln stg vs 20.9 mln
    - distribution 10.1 mln stg vs 7.5 mln
    - specialist print and pack 12.6 mln stg vs 9.6 mln
    - international 6.0 mln stg vs 5.6 mln
    - head office and property 4.6 mln stg vs 3.6 mln
    - discontinued, sold businesses 589,000 stg vs 2.4 mln
    Operating profits, geographic breakdown:
    - Britain 51.4 mln stg vs 43.3 mln
    - Africa 3.3 mln stg vs 3.4 mln
    - Australasia 1.4 mln stg vs 854,000 stg
    - North America 1.5 mln stg vs 1.6 mln
    NOTE - full name is Norcros Plc &lt;NCRO.L>.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7347" NEWID="17902">
<DATE> 2-JUN-1987 04:10:01.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>cyprus</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0228&#31;reute
r f BC-CYPRUS-BANK-STRIKE-AV   06-02 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>CYPRUS BANK STRIKE AVERTED</TITLE>
<DATELINE>    NICOSIA, June 2 - </DATELINE><BODY>The Cyprus Bank Employees' Union called
off a threatened strike following a meeting last night of the
union's executive committee, the Commercial Bankers Association
and Labour Minister Andreas Moushouttas.
    Bank sources said union members were expected to approve an
agreement reached at the meeting. Union demands included an
annual 3.5 pct pay increase for the next two years and a
five-day working week.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7348" NEWID="17903">
<DATE> 2-JUN-1987 04:14:25.31</DATE>
<TOPICS></TOPICS>
<PLACES><D>south-korea</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM AI
&#22;&#22;&#1;f0231&#31;reute
u f BC-SOUTH-KOREAN-FIRMS-FE   06-02 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTH KOREAN FIRMS FEAR LOAN CUTS MAY HURT EXPORTS</TITLE>
<AUTHOR>    By Jo Yun-jeung, Reuters</AUTHOR>
<DATELINE>    SEOUL, June 2 - </DATELINE><BODY>South Korean firms affected by a government
order to cut bank loan exposures fear the move may make their
exports less competitive, company officials said.
    Last month, the government ordered 82 companies to repay 10
pct of their bank borrowings by December 31. It told them to
replace the amount with new share issues or money raised
through convertible bonds offered on the local capital market.
    Company officials said they backed the move in principle
but were worried it would raise financing costs at a time when
the won was rising steadily against the dollar.
    "We plan to export 100,000 cars this year and 200,000 next
year and with our present production facilities we cannot
produce this amount," an official from Daewoo Motor Co Ltd, who
requested anonymity, told Reuters. "We must invest in production
facilities to meet our target, which means we need a lot of
money from banks or elsewhere."
    "But if we should pay back bank loans within this year, we
will face mounting financial difficulties and have less money
to invest on a new production line, which will eventually
discourage our exports," he added.
    The 82 companies each have bank loans exceeding 50 billion
won, representing a combined exposure of 10,052 billion won or
about 20 pct of all loans extended by South Korean banks,
finance ministry officials said.
    The companies must raise 1,005.2 billion won by the
December deadline, the officials said. Of this total, the 82
firms would raise some 646.5 billion won from selling part of
their existing Seoul stock market portfolios, they said.
    Another 74.1 billion would be raised by new share offerings
and 284.6 billion by convertible bond issues.
    Most of the firms affected by the repayment scheme are
affiliates of large conglomerates or "chaebols."
    Thirteen of the 82 are affiliates of Samsung Co Ltd, 10 are
Hyundai Corp associates, seven are part of the Lucky-Goldstar
Group, six are part of Daewoo Corp, four are Sunkyong Ltd
affiliates and four are part of Ssangyong Corp.
    Finance ministry officials said the order was part of
government efforts to absorb excessive money supply triggered
by the growing current account surplus and to increase the
supply of shares on the stock market.
    "We want to mop up the excess liquidity by making companies
issue new shares and bonds, and to give banks more funds to
lend to small-sized firms," one official said.
    The targeted 1,005.2 billion won represents three pct of
the M-2 money supply of 33,871 billion won at the end of 1986.
    The M-2 at end-April was up 18.2 pct from a year earlier,
compared with the government's 18 pct growth target for the
whole of this year, officials figures showed.
    The current account swung to a surplus of 2.5 billion dlrs
in the first four months of this year from a deficit of 294 mln
in the same period last year.
    "We expect the measure will help companies improve their
financial structure by lowering the ratio of liability," the
ministry official said.
    A Hyundai Motor Co official, who asked not to be
identified, said, "We basically see the measure as positive, for
we can raise money in the capital market by issuing new shares
or convertible bonds which will eventually improve our
financial structure."
    "But as far as the finance cost is concerned, issuing new
shares is more expensive than borrowing from banks and we have
to pay back the loans (soon)," he added.
    South Korean bank loans attract an average interest rate of
11.5 pct.
    "We are also concerned over the won's gradual appreciation
against the dollar which is emerging as a threatening factor to
export-oriented firms," another company official said.
    "We will come under mounting financial pressure if the won
continues to go up," he added.
    The won has risen more than 4.5 pct against the dollar this
year after gaining 3.34 pct in 1986.
    "Many firms prefer to borrow from banks rather than boost
capital by issuing shares so that they can evade new dividend
pressure," a bank official said. "A firm's owners hate to see
their holding ratio lowered by issuing shares."
    "But their dependency on the banks should be corrected
because their financial structure is already poor," he said.
    (See Monitor page ECRA for spotlight index)
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7349" NEWID="17904">
<DATE> 2-JUN-1987 04:23:17.41</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0247&#31;reute
u f BC-FUJITSU-SAYS-SOME-ISS   06-02 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>FUJITSU SAYS SOME ISSUES RESOLVED IN IBM DISPUTE</TITLE>
<DATELINE>    TOKYO, June 2 - </DATELINE><BODY>Fujitsu Ltd &lt;ITSU.T> and International
Business Machines Corp &lt;IBM.N> (IBM) had resolved some issues
in a longstanding dispute over software copyright protection,
Fujitsu said in a prospectus for a warrant bond recently issued
in London.
    The dispute involved questions of contractual
interpretation arising from a 1983 agreement between the
companies, the prospectus said.
    Under question was how much software information the firms
were obliged to disclose to each other. The case had been
before the American Arbitration Association (AAA) since 1985.
    "By subsequent agreements, the parties have resolved some of
the issues and have established procedures to resolve presently
outstanding disputes with the involvement of the members of the
panel of arbitrators," the prospectus said.
    "The Company is not in a position to predict with certainty
the outcome of this process and its effect on the future
results or operations, financial or otherwise, of the Group," it
said.
    A Fujitsu spokeswoman declined to comment on the
prospectus, noting the dispute remained under arbitration by
the AAA. An IBM spokesman here also declined comment.
    Last November the AAA ordered both companies to maintain
the confidentiality of the arbitration proceedings and said
that both Fujitsu and IBM had agreed that no additional comment
on the subject be made.
    Late last year, IBM and Hitachi Ltd &lt;HIT.T> said they had
agreed to revise a separate 1983 agreement which arose out of
software disputes similar to those between Fujitsu and IBM.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7350" NEWID="17905">
<DATE> 2-JUN-1987 04:24:22.69</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0251&#31;reute
b f BC-DAIWA-HOUSE-EQUITY-WA   06-02 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>DAIWA HOUSE EQUITY WARRANT INCREASED, FIXED</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>The five year equity warrant eurobond for
Daiwa House Industry Co Ltd &lt;DHOU.T> has been increased to 400
mln dlrs from the initial 300 mln dlrs, lead manager Nomura
International Ltd said.
    The coupon has been set at 1-1/4 pct compared with the
indicated level of 1-5/8 pct. Bond market sources noted that
this equals the lowest ever coupon seen in this sector.
    The exercise price was set at 2,604 yen per share,
representing a premium of 2.52 pct over today's closing price
of 2,540 yen. The foreign exchange rate was set at 146.20 yen
to the dollar.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7351" NEWID="17906">
<DATE> 2-JUN-1987 04:36:37.12</DATE>
<TOPICS><D>gnp</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0260&#31;reute
u f BC-GERMAN-GNP-FIGURES-PU   06-02 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN GNP FIGURES PUBLICATION DELAYED</TITLE>
<DATELINE>    WIESBADEN, June 2 - </DATELINE><BODY>Figures for first quarter 1987 West
German GNP will be published on June 11 after they were
provisionally scheduled for June 4, an official at the Federal
Statistics Office said.
    The official said there had been a delay in gathering
information for the data, which are expected to show that the
West German economy contracted in the period.
    A spokesman for the Economics Ministry in Bonn said there
was no political motivation behind publishing the figures on
June 11, the day after the Venice economic summit ends.
    "There is no political motivation. It is a purely technical
matter," he added.
    The West German government is expected to come under
pressure in Venice from both the U.S. And its European partners
to stimulate domestic demand as a way of reducing international
trade imbalances and contributing to world economic growth.
    However, government officials have ruled out any further
tax reduction packages to supplement a major program of
stimulatory fiscal measures already underway.
    Helmut Schlesinger, vice-president of the West German
central bank, the Bundesbank, said in Tokyo today that GNP, the
widest measure of a country's economic activity, fell in real
terms by a seasonally adjusted 1/2 to one pct in the first
quarter compared with the fourth 1986 period.
     The government has confirmed that growth was negative in
the first 1987 quarter. But year-on-year growth is expected to
be about two pct.
    Schlesinger today repeated the Bundesbank's reluctance to
cut its official interest rates further. Its key discount rate,
at three pct, is just above historical lows.
    West German officials are likely to emphasise at the Venice
summit that domestic demand, which draws in goods from abroad,
is already outstripping export performance, which has suffered
from an 80 pct rise of the mark against the dollar in just over
two years.
    The government has pointed out that depressed exports are
the main reason for the current weakness in the economy, but
says that later in the year stronger domestic demand will
compensate for this setback.
    It expects GNP growth for the whole of 1987 of just under
two pct, after a 2.4 pct rise in 1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7352" NEWID="17907">
<DATE> 2-JUN-1987 04:43:06.10</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0268&#31;reute
u f BC-STAD-ROTTERDAM-TAKES   06-02 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>STAD ROTTERDAM TAKES STAKE IN SWISS-OWNED INSURER</TITLE>
<DATELINE>    ROTTERDAM, June 2 - </DATELINE><BODY>Dutch insurer Stad Rotterdam Anno 1720
N.V. &lt;ASRN.AS> said from July 1 it will own 20 pct of the
shares of &lt;Europeesche Verzekering Maatschappij N.V.>, a
fully-owned unit of Swiss insurer &lt;Union
Rueckversicherungs-Gesellschaft>.
    Stad Rotterdam chairman Lucas van Leeuwen told Reuters it
may raise its stake to a majority interest if the two companies
are found to be sufficiently compatible.
    Van Leeuwen said that due partly to the fact Europeesche
made losses in 1985 and 1986, the 20 pct stake was obtained at
below the shares' intrinsic value. He gave no precise sum.
    The Europeesche, which specialises in travel and recreation
insurance, had a premium income of 150 mln guilders in 1986.
    Stad Rotterdam's premium income in 1986 was 1.17 billion
guilders, making it the fifth largest Dutch insurer.
    Europeesche made a loss of nine mln guilders in 1985, which
narrowed to 4.5 mln guilders in 1986, van Leeuwen said.
    He said the company was on course for independent recovery
and was expected to reduce its losses further in 1987.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7353" NEWID="17908">
<DATE> 2-JUN-1987 04:43:21.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0270&#31;reute
b f BC-NABISCO-EXPECTED-TO-I   06-02 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>NABISCO EXPECTED TO ISSUE DOLLAR STRAIGHT</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>Nabisco Brands Inc, or one of its units,
is expected to issue shortly a dollar straight eurobond,
probably totalling 100 mln dlrs, bond market sources said.
    They said they expect the issue will have a seven year
maturity, but to have an investor put option after four years
at par. The coupon is expected to be 8-3/4 pct while pricing
will be at 101-3/8 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7354" NEWID="17909">
<DATE> 2-JUN-1987 04:45:44.38</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0277&#31;reute
u f BC-FINAL-TERMS-SET-ON-EA   06-02 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>FINAL TERMS SET ON EAGLE INDUSTRY WARRANT BOND</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>The coupon on the 17 mln dlr, five year,
equity warrant eurobond for Eagle Industry Co Ltd has been set
at the indicated level of 1-7/8 pct, lead manager Nomura
International Ltd said.
    The exercise price was set at 729 yen a share, representing
a premium of 2.53 pct over today's closing price of 711 yen.
The foreign exchange rate was set at 146.20 yen to the dollar.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7355" NEWID="17910">
<DATE> 2-JUN-1987 04:46:40.68</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0279&#31;reute
u f BC-JAPAN-RAISES-LIMITS-O   06-02 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN RAISES LIMITS ON NON-LIFE INSURERS' LENDING</TITLE>
<DATELINE>    TOKYO, June 2 - </DATELINE><BODY>The Finance Ministry would raise lending
limits on local non-life insurance firms to meet the increasing
need for efficient fund management, a ministry spokesman said.
    He said the allowable non-collateral lending limits would
be increased to 30 pct of each insurer's total assets from 25
pct and that overseas subsidiaries will be made eligible as
borrowers.
    The lending limit for non-life insurers which do not
satisfy criteria for making non-collateral loans would be
expanded to three pct of total assets from one pct.
    The upper limit of lending of securities by non-life
insurance companies, now set at five pct of each insurer's
total assets would be abolished, the official said.
    This will enable such lending by non-life insurers to be
included in the separate category of money lending, which is
limited to 55 pct of the total assets of each insurer.
    Approvals for the changes, which must be given to each
insurer on application, were expected to begin soon, possibly
as early as next week.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7356" NEWID="17911">
<DATE> 2-JUN-1987 04:48:22.07</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>france</D><D>spain</D><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0284&#31;reute
b f BC-DUFFOUR-IGON-GIVES-BA   06-02 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>DUFFOUR IGON GIVES BACKING TO AGA TAKEOVER BID</TITLE>
<DATELINE>    PARIS, June 2 - </DATELINE><BODY>French industrial gas group &lt;Duffour et
Igon> has decided to back the takeover bid by Swedish
industrial gases group Aga AB &lt;AGA.ST>, ending a lengthy battle
between rival bidders from France, Spain and West Germany,
Duffour et Igon Chairman Jean Igon said.
    The board agreed late last night to back the Aga bid and
advise its shareholders to accept the Swedish group's latest
offer of 4,410 francs per share, he told Reuters.
    The other main bidders were Union Carbide Corp's &lt;UK.>
French subsidiary &lt;Union Carbide France> and West Germany's
Linde AG &lt;LING.F>.
    Aga topped rival bids for the gases distribution group in
May by raising its offer to 4,410 francs from 4,000 francs.
    This was accepted by Spain's &lt;Carburos Metalicos SA> which
sold Aga six pct of Duffour et Igon's stock and the right of
first refusal on the remaining nine pct of stock it holds. It
also won over the French Midi-Pyrenees development authority
which agreed to sell Aga its 20 pct stake in Duffour et Igon.
    Under Aga's offer, shareholders can either accept a cash
bid or exchange one share in Duffour et Igon for one bond of a
nominal value of 4,410 francs with a 10 pct coupon issue by Aga
France SA. The bond issue is guaranteed by the parent Aga AB.
    The takeover battle for the Toulouse-based company, which
controls eight pct of the French industrial gas distribution
market, began on April 2 with an offer of 2,100 francs per
share from Union Carbide France &lt;UK>.
    Aga's offer, which puts a price of 587 mln francs on the
company, closes on June 24 and the results will be announced on
July 21.
    Duffour et Igon shares were quoted yesterday at 4,410
francs, with no buyers, after a series of suspensions during
the takeover tussle. They traded at 856 francs on January 9
before the first suspension.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7357" NEWID="17912">
<DATE> 2-JUN-1987 04:49:20.72</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0289&#31;reute
u f BC-JAPAN-TO-SET-MICROCHI   06-02 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN TO SET MICROCHIP PRODUCTION GUIDELINES</TITLE>
<DATELINE>    TOKYO, June 2 - </DATELINE><BODY>The Ministry of International Trade and
Industry (MITI) said it would issue guidelines later this month
for microchip production during the third quarter.
    A MITI official said it was too early to say if the
guidelines would call for reductions following similar
government requests in the first two quarters of 1987.
    "This is not a matter which should be decided on a political
basis alone," the official told Reuters.
    MITI asked that production of 256 kilobit dynamic random
access memory chips and erasable programmable read only memory
chips be cut by 11 pct during the April/June quarter.
    Production was cut back 10 pct in the first quarter and
industry analysts said the reductions have boosted prices.
    U.S. And Japanese officials met in Washington last week to
discuss the removal of U.S. Sanctions against some Japanese
exports but both sides agreed not to reveal the outcome of the
talks, the MITI official added.
    Washington imposed the sanctions in April, saying Tokyo had
failed to abide by a 1986 pact on microchip trade.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7358" NEWID="17913">
<DATE> 2-JUN-1987 04:50:19.22</DATE>
<TOPICS><D>acq</D><D>crude</D><D>nat-gas</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0292&#31;reute
u f BC-SANTOS-TO-ACQUIRE-TOT   06-02 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>SANTOS TO ACQUIRE TOTAL EXPLORATION AUSTRALIA</TITLE>
<DATELINE>    ADELAIDE, June 2 - </DATELINE><BODY>Santos Ltd &lt;STOS.S> said it would buy
&lt;Total Exploration Australia Pty Ltd> from &lt;Total Holdings
(Australia) Pty Ltd, a wholly-owned subsidiary of Total-Cie
Francaise des Petroles &lt;TPN.PA>.
    Total Exploration had interests ranging from 18.75 to 25
pct in four blocks in permit ATP259P in south-west Queensland,
Santos said in a statement.
    The Santos group stakes will rise to between 52.5 and 70
pct of the four ATP259P blocks as a result of the purchase. The
price was not disclosed.
    Santos said a number of oil and gas fields have been
discovered in the Total Exploration areas and that it regards
them as having very good prospects for further discoveries.
    Total's reserves amount to 75 billion cubic feet of gas and
5.5 mln barrels of oil and condensate, it said.
    It said it will promote a vigorous exploration program in
the areas for the rest of 1987 and in the future.
    The acquisition is the latest in a series by Santos as part
of a program to expand from its origins in the South Australian
Cooper Basin.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7359" NEWID="17914">
<DATE> 2-JUN-1987 04:56:32.51</DATE>
<TOPICS></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE><D>eyskens</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0295&#31;reute
u f BC-BELGIAN-PUBLIC-DEBT-R   06-02 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>BELGIAN PUBLIC DEBT RISES IN APRIL</TITLE>
<DATELINE>    BRUSSELS, June 2 - </DATELINE><BODY>Belgium's public debt rose in April by a
nominal 38.5 billion francs to 5,719.4 billion francs. This
follows a rise of 89.8 billion in March and a rise of 11.2
billion in April 1986, Finance Minister Mark Eyskens said.
    He said in his monthly statement that after taking account
of foreign exchange variations and other factors the figure
corresponding to the government's net financing requirement in
April was 34.9 billion francs against 24 billion in April 1986.
    In the first four months of this year public debt rose
301.1 billion francs against 269.7 billion in the same period
of 1986, the statement said.
    Between January and April the figure corresponding to the
net financing requirement was 286.3 billion francs compared
with 293.1 billion in the same period in 1986.
    The government has started an austerity programme designed
to cut spending this year by 195 billion francs and to cut the
net financing requirement to below 420 billion francs compared
with 561 billion in 1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7360" NEWID="17915">
<DATE> 2-JUN-1987 04:59:24.52</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE><D>poehl</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0301&#31;reute
r f BC-POEHL-LOOKS-SET-FOR-E   06-02 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>POEHL LOOKS SET FOR EIGHT MORE YEARS AT BUNDESBANK</TITLE>
<AUTHOR>    By Jonathan Lynn, Reuters</AUTHOR>
<DATELINE>    FRANKFURT, June 2 - </DATELINE><BODY>For currency dealers Karl Otto Poehl is
the scourge of speculators, for bankers he is the man who has
played a key role in shaping the world's financial destiny for
the last seven years, and for Germans he is the guardian of the
mark.
    President of the powerful and independent West German
central bank, the Bundesbank, Poehl is likely to have his
contract renewed for another eight years when it expires at the
end of this year, government officials say.
    (Index of economic spotlights, see page ECRA)
    But no official announcement has yet been made, raising
eyebrows in West Germany's business community.
    The ebullient Poehl spent seven years in Bonn in top
ministerial posts under the Social Democrats, now in
opposition, before he moved to the Bundesbank.
    There has been speculation that Chancellor Helmut Kohl
would try to replace Poehl with a man closer to his own
Christian Democrats. But officials noted that Poehl has worked
closely and successfully with Finance Minister Gerhard
Stoltenberg since Kohl's government took office in 1982.
    Poehl, the most senior central banker apart from Paul
Volcker of the United States, enjoys a strong international
reputation which it would take a newcomer years to build up.
    Given these circumstances, Kohl will probably overlook
Poehl's past as an adviser to former Social Democrat Chancellor
Willy Brandt, and top aide to Helmut Schmidt when he was
Finance Minister, bankers said. It was Schmidt who, as
Chancellor, appointed Poehl to his present job in 1980.
    In recent months, with the mark's strong rise against the
dollar, Poehl has made exchange rates the central concern of
the Bundesbank's council, a highly conservative institution
which has doggedly pursued monetary policies to prevent
inflation catching hold. Older Germans can remember two bouts
of galloping inflation this century.
    But with consumer prices falling for much of 1986, and
inflation negligible so far this year, Poehl thinks it is safe
to relax the monetary reins a little and concentrate on the
dangers to the German economy of a bloated exchange rate.
    "I am of the opinion that efforts to stabilise the
dollar/mark rate have reached a high priority, also for the
Bundesbank, because a further massive revaluation of the mark
would endanger the economy in West Germany," he told business
journalists in Frankfurt recently.
    Ute Geipel, head of research at Citibank AG, says that
Poehl's reappointment would guarantee flexible monetary policy.
    "Poehl's policy has always been a policy which does not
focus so rigidly on domestic factors, but also on the external
economy," she said.
    An economist at a German bank, who declined to be
identified, said "If Poehl is confirmed in his post, it will
certainly be a plus for the pragmatic course which is not so
rigidly oriented towards money supply."
    One of Poehl's great struggles recently has been to
persuade the United States to stop "talking down" the dollar. For
Poehl, the significance of the February Louvre Accord was that
the United States agreed to join efforts to stabilise
currencies.
    The Louvre Accord was greeted with scepticism by currency
dealers who said they would soon put it to the test. But in
fact the dollar has been relatively stable since the pact.
    "This is because the markets know - or perhaps because they
don't know - what the central banks can do," Poehl says of
intervention in currency markets which can quickly turn rates
round, making a speculator's position worthless.
    Poehl was born in 1929 and worked as a financial journalist
in the 1960s before starting his ministerial career.
    A relaxed sun-tanned figure who enjoys cracking jokes over
a glass of beer, he is hardly a stereotype central banker.
    He is also a keen sportsman who likes to watch football and
play golf.
    Poehl says currency market intervention cannot substitute
for correct economic policies if exchange rates are imbalanced.
    "But you can achieve an enormous effect with a small amount
if you strike at the right moment," he said. Bundesbank dealers
are very professional and skilled. "They've burnt the fingers of
many people," he said. And unlike the speculators, Poehl notes,
the Bundesbank dealers usually make a profit.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7361" NEWID="17916">
<DATE> 2-JUN-1987 04:59:40.80</DATE>
<TOPICS><D>bop</D></TOPICS>
<PLACES><D>finland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0303&#31;reute
u f BC-FINLAND'S-CURRENT-ACC   06-02 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>FINLAND'S CURRENT ACCOUNT IN DEFICIT IN 1ST QTR</TITLE>
<DATELINE>    HELSINKI, June 2 - </DATELINE><BODY>Finland's current account balance of
payments showed a deficit of 2.5 billion markka in first
quarter 1987 against a deficit of 3.2 billion in the same
period last year, the Bank of Finland said in a statement.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7362" NEWID="17917">
<DATE> 2-JUN-1987 05:05:31.09</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0316&#31;reute
b f BC-RJR-NABISCO-INC-ISSUE   06-02 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>RJR NABISCO INC ISSUES 100 MLN DLR EUROBOND</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>RJR Nabisco Inc is issuing a 100 mln dlr
eurobond due June 30, 1994 paying 8-3/4 pct and priced at
101-3/8 pct, lead manager of Bank of America International Ltd
said. This confirms an earlier report by bond market sources.
    The issue has an investor put option after four years at
par but is non-callable. The selling concession is 1-1/8 pct
while management and underwriting combined pays 1/2 pct.
    The issue is available in denominations of 1,000 and 10,000
dlrs and listing will be in Luxembourg. The payment date is
June 30.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7363" NEWID="17918">
<DATE> 2-JUN-1987 05:06:54.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0318&#31;reute
b f BC-IBERDUERO-ISSUES-150   06-02 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>IBERDUERO ISSUES 150 MLN SWISS FRANC BOND</TITLE>
<DATELINE>    ZURICH, June 2 - </DATELINE><BODY>Hidroelectrica Iberica Iberduero S.A.
(Iberduero) of Bilbao, Spain is issuing a 150 mln Swiss franc
eight year bond with a five pct coupon and 100-1/4 issue price,
lead manager Union Bank of Switzerland said.
    The bond is on sale until June 26 with payment due on July
9.
    It can be called at 101-1/2 in 1991 and for tax reasons
only at 102 in 1988.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7364" NEWID="17919">
<DATE> 2-JUN-1987 05:09:47.20</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0324&#31;reute
u f BC-JAPAN-HIGHWAY-CORP-PL   06-02 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN HIGHWAY CORP PLANS TO ISSUE ECU BOND</TITLE>
<DATELINE>    TOKYO, June 2 - </DATELINE><BODY>Japan Highway Public Corp planned to issue
a seven-year government-guaranteed 120 mln European currency
unit (ecu) bond with coupon at 7.375 pct late this month, a
corporation spokeman told Reuters.
    Issue price would be 101.125 pct to yield 7.165 pct.
    Lead manager was Bank of Tokyo Capital Market Ltd, a
subsidiary of the Bank of Tokyo in Britain and co-lead manager
Credit Commercial de France, he added.
   He declined to give other details.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7365" NEWID="17920">
<DATE> 2-JUN-1987 05:14:48.30</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0327&#31;reute
u f BC-JAPAN-TO-BUY-THREE-BI   06-02 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN TO BUY THREE BILLION YEN U.S. SUPERCOMPUTER</TITLE>
<DATELINE>   TOKYO, June 2 - </DATELINE><BODY>Japan planned to buy a three billion yen
supercomputer as part of a policy of importing more U.S. Goods,
a spokesman for the private business group Kansai Economic
Federation told Reuters by telephone from Osaka.
    The supercomputer would be bought from Cray Research Inc
&lt;CYR.N> of the U.S., The spokesman said.
    He said the supercomputer would not necessarily be bought
this year but eventually it would be installed at the Advanced
Telecommunications Research Institute International. The
Institute conducts telecommunications research and was formed
in 1986 with government and private funds.
    The United States has been pressing Japan to open its
public sector market to sales of U.S. Supercomputers.
    Ministry of International Trade and Industry officials
concerned with the supercomputer issue were unavailable for
comment.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7366" NEWID="17921">
<DATE> 2-JUN-1987 05:27:37.63</DATE>
<TOPICS></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0352&#31;reute
u f BC-NATIONALE-NEDERLANDEN   06-02 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>NATIONALE-NEDERLANDEN EXPECTS TO MATCH 1986 PROFIT</TITLE>
<DATELINE>    THE HAGUE, June 2 - </DATELINE><BODY>Nationale-Nederlanden NV &lt;NTNN.AS>, the
largest Dutch insurance company, reported a four-pct rise in
first quarter profits. The announcement represented a break
with the company's past practice of giving annual results only.
    The company said it expects its 1987 net profit will at
least equal the 1986 figure of 635.5 guilders.
    Nationale-Nederlanden said the lower exchange rates for the
U.S. Dollar, Australian dollar and sterling had brought the
increase in the quarter's net profit down from 6.3 pct.
    Premium income from damage and life insurances pushed
turnover in the Netherlands up by eight pct.
 reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7367" NEWID="17922">
<DATE> 2-JUN-1987 05:28:02.09</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0354&#31;reute
u f BC-DE-LA-RUE-RAISES-ANNU   06-02 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>DE LA RUE RAISES ANNUAL PROFITS BY 12.7 PCT</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>Year ended March 31, 1987
    Fin div 9.25p making 12p vs 10.74p
    Shr 28.3p vs 27.5p
    Pretax profit 55.63 mln stg vs 49.36 mln
    Net 38.80 mln vs 33.64 mln
    Turnover 444.10 mln vs 309.85 mln
    Net interest payable 3.50 mln vs 3.79 mln
    Profit share of related companies 7.62 mln vs 9.64 mln
    Note - The De La Rue Co. Plc &lt;DLAR.L> proposes to offer
ordinary shareholders the opportunity to receive their
dividends in the form of new shares as an alternative to cash.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7368" NEWID="17923">
<DATE> 2-JUN-1987 05:38:12.36</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T
&#22;&#22;&#1;f0377&#31;reute
u f BC-CHINA-SEEN-UNLIKELY-T   06-02 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA SEEN UNLIKELY TO RAISE SUGAR IMPORTS</TITLE>
<AUTHOR>    By Mark O'Neill, Reuters</AUTHOR>
<DATELINE>    PEKING, June 2 - </DATELINE><BODY>China will not increase sugar imports
substantially this year because of foreign exchange constraints
and large stocks, despite falling production and rising
domestic demand, traders and the official press said.
    "Despite rapid increases in domestic production over the
last 30 years, imbalances between supply and demand continue to
be extremely serious," the Farmers Daily said. It said 1986
plantings fell due to removal of crop incentives, because
farmers could earn more from other crops and because technical
and seed improvements had not been widely disseminated.
    The official press had estimated the 1986/87 sugar crop
(November/March) at 4.82 mln tonnes, down from 5.2 mln a year
earlier, and domestic consumption at six mln tonnes a year.
    The Yunnan 1986/87 sugar harvest was a record 521,500
tonnes, the provincial daily said. It gave no year-earlier
figure. Output in Guangxi was 1.04 mln tonnes, the New China
News Agency said without giving a year-earlier figure.
    The Nanfang Daily said production in Guangdong province
fell to estimated 1.92 mln tonnes from 1.96 mln and that the
area under sugar was dropping.
    "Supply of cane (in Guangdong) is inadequate," the newspaper
said. Processing costs are rising and the economic situation of
nearly all the mills is not good. To guarantee supply of cane
is a major problem."
    A Western diplomat said sugar output also fell n Fujian,
south China's fourth major producer, where there was a drop in
area planted.
    He said the rural sectors in Guangdong and Fujian were wel
developed, enabling farmers to choose crops according to the
maximum return, meaning that many had avoided sugar.
    The Farmers Daily said a peasant in the ortheast province
of Heilongjiang could gross 108 yuan from one mu (0.0667
hectares) of soybeans and 112 yuan from one mu of corn but only
70 from one mu of sugarbeet.
    The paper said the profit margin of mills in China fell to
4.7 pct last year from 11.87 pct in 1980.
    Mills lacked the capital to modernise and they competed
with each other for raw materialsX, it added. This resulted in
falling utilisation rates at big, mode{nised mills.
    The price of sugar had not changed in 20 years, the
official press has said.
    Customs figures showed China imported 1.18 mln tonnes of
sugar in calendar 1986, down from 1.9 mln in 1985.
    The diplomat said stocks at end-August 1986 were 2.37 mln
tonnes, up from 1.92 a year earlier.
    A foreign trader here said China accumulated large stocks
in 1982-85 when provincial authorities were allowed to import
sugar on their own authority. This practice was stopped in 1986
when the central government resumed control of imports.
    "As China lacked storage, much of these imports was stored
in Qinghai, Inner Mongolia and other inland areas," the diplomat
said.
    The trader said transporting stocks from these areas to
consumers in east and south China was a problem, particularly
as coal had priority. "How quickly they can move the sugar is
one factor determining import levels," he said.
    Another factor was the quality of the harvest in Cuba,
China's major supplier through barter trade, he said.
    "China bought two distress cargoes last week, for about
152/153 dlrs a tonne," he added. "China is not a desperate buyer
now. But if the Cuban harvest is bad, it will have to go into
the open market."
    A Japanese trader said Peking's major concern regarding
imports was price.
    "While the foreign trade situation has improved this year,
foreign exchange restraints persist," he said.
    The diplomat said domestic demand was rising by about five
pct a year but "a communist government is in a much better
position to regulate demand than a capitalist one, if the
foreign exchange situation demands it."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7369" NEWID="17924">
<DATE> 2-JUN-1987 05:42:37.63</DATE>
<TOPICS><D>trade</D><D>bop</D></TOPICS>
<PLACES><D>uae</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0386&#31;reute
u f BC-UAE-TRADE,-CURRENT-AC   06-02 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>UAE TRADE, CURRENT ACCOUNT SURPLUSES NARROW</TITLE>
<DATELINE>    ABU DHABI, June 2 - </DATELINE><BODY>The United Arab Emirates recorded a
1986 trade surplus of 12.2 billion dirhams, narrowing from 30.2
billion in 1985, the central bank's latest bulletin shows.
    The central bank said the lower surplus was mainly due to
the decline in the value of exports and re-exports to 37.2
billion dirhams from 54.2 billion in 1985. This reflected the
decline in oil prices last year and difficulties in marketing
UAE oil, the central bank added.
    The surplus on the current account narrowed to 6.8 billion
dirhams from 25.5 billion in 1985. The overall balance showed a
surplus of 4.8 billion after 2.6 billion in 1985.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7370" NEWID="17925">
<DATE> 2-JUN-1987 05:44:52.99</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>kuwait</D><D>iran</D><D>iraq</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0389&#31;reute
u f BC-KUWAIT-REJECTS-IRANIA   06-02 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>KUWAIT REJECTS IRANIAN SPY BOAT CHARGES</TITLE>
<DATELINE>    KUWAIT, June 2 - </DATELINE><BODY>Kuwait, a target of Iranian anger over the
emirate's backing for Iraq in the Gulf war, today rejected
charges that fishing vessels seized recently by Iran were spy
boats.
    "There are no bases of truth to the contents of the Iranian
accusation on the nature of the operations of the vessels
recently taken into custody by Iran. These vessels were out
fishing," the Foreign Ministry said in a statement.
    It said Iranian Charge d'Affaires Mohammad Baqeri was
summoned by the Ministry yesterday to confer with Foreign
Undersecretary Suleiman Majed al-Shaheen.
    The Iranian News Agency IRNA said on Sunday Iran had seized
seven Kuwaiti speed boats and detained their crew, who
confessed to spying for Iraq under the cover of fishing.
    It said the boats were intercepted in the Khur Abdullah
waterway which separates Kuwait and Iraq's Faw peninsula at the
head of the Gulf, captured by Iran last year.
    The Kuwaiti response came as Iranian envoys toured Gulf
Arab states saying responsibility for security and stability in
the waterway was a regional matter. A U.S. Senate team was
scheduled today to meet Kuwait's Crown Prince and Prime
Minister Sheikh Saad al-Abdulla al-Sabah and the defence and
oil ministers.
    Today's Foreign Ministry statement, carried by the Kuwait
News Agency KUNA, said the recent detention of Kuwaiti fishing
vessels by Iran was not the first.
    Tehran in the past had held back a number of vessels Kuwait
had sought to release through diplomatic contacts, it said.
    "However, Kuwait is perplexed that this time the Iranian
charges are accompanied by accusations that the vessels were
undertaking espionage activities," it said.
    Shaheen condemned the detentions and accusations, and asked
Tehran to free all fishing boats and sailors held by Iran, the
statement said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7371" NEWID="17926">
<DATE> 2-JUN-1987 05:46:30.48</DATE>
<TOPICS><D>trade</D><D>bop</D></TOPICS>
<PLACES><D>uae</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0394&#31;reute
r f BC-UAE-TRADE,-CURRENT-AC   06-02 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>UAE TRADE, CURRENT ACCOUNT SURPLUSES NARROW</TITLE>
<DATELINE>    ABU DHABI, June 2 - </DATELINE><BODY>The United Arab Emirates (UAE) recorded
a 1986 trade surplus of 12.2 billion dirhams, narrowing from
30.2 billion in 1985, the central bank's latest bulletin shows.
    The central bank said the lower surplus was mainly due to
the decline in the value of exports and reexports to 37.2
billion dirhams from 54.2 billion in 1985. This reflected the
decline in oil prices last year and difficulties in marketing
UAE oil, the central bank added.
    The surplus on the current account narrowed to 6.8 billion
dirhams from 25.5 billion in 1985. The overall balance showed a
surplus of 4.8 billion after 2.6 billion in 1985.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7372" NEWID="17927">
<DATE> 2-JUN-1987 05:49:29.21</DATE>
<TOPICS><D>propane</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0398&#31;reute
u f BC-BP-CUTS-NORTH-SEA-PRO   06-02 0123</UNKNOWN>
<TEXT>&#2;
<TITLE>BP CUTS NORTH SEA PROPANE PRICE, BUTANE UNCHANGED</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>British Petroleum LP Gas International
said it cut its North Sea LPG (Liquified Petroleum Gas) posted
price for propane to 95 dlrs from 110 dlrs a tonne, effective
June 1.
    The move follows a similar cut to 92 from 108 dlrs a tonne
announced by Shell U.K. Ltd Friday, also fob North Sea
terminals and effective June 1 until further notice. Both
companies left their butane prices unchanged at 123 dlrs a
tonne.
    A BP statement said its cut came "as a result of a price
review occasioned by substantial changes in the LPG market." BP
last lowered its posted propane price from 175 dlrs a tonne on
March 1, and Shell U.K.'s last change was from 113 dlrs May 1.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7373" NEWID="17928">
<DATE> 2-JUN-1987 05:50:01.61</DATE>
<TOPICS></TOPICS>
<PLACES><D>bahrain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0400&#31;reute
r f BC-OMAN-CENTRAL-BANK-TO   06-02 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>OMAN CENTRAL BANK TO ISSUE TREASURY BILLS</TITLE>
<DATELINE>    BAHRAIN, June 2 - </DATELINE><BODY>Oman's central bank is expected to
announce shortly the go-ahead for a weekly offering of treasury
bills to the sultanate's 22 local and foreign banks, banking
sources in Muscat said.
    The central bank's board is due to approve the scheme at
its next meeting on June 7 and it is likely to be explained to
banks at a meeting with general managers scheduled for June 14,
the sources said.
    The decision to issue short-term government paper will come
as a relief to banks in Oman which have been awash with
liquidity but have few outlets for investment.
    Oman's banks are allowed to swap only 40 pct of capital and
reserves into foreign currencies, effectively preventing them
from investing excess funds in eurodollar deposits where yields
are much higher than in the domestic interbank market.
    A treasury bill system would go some way to meeting banks'
complaints on this score, bankers in Muscat said. Their
dissatisfaction is expected to be voiced at the June 14 meeting
if the treasury bill scheme is not launched.
    Bahrain introduced a weekly treasury bill tender last
December, offering local banks two mln dinars in 91-day bills
by tender each Tuesday.
    Other nations in the Gulf also offer banks short-term
paper, with the United Arab Emirates issuing certificates of
deposit each week while Saudi Arabia offers "bankers' security
deposit accounts."
    Both the Bahrain treasury bills and Saudi Arabian deposit
accounts can be used by banks in repurchase agreements to
obtain short-term money market aid.
    Bankers in Muscat said the format of Oman's treasury bill
offering is not yet clear. Some expect a maturity of 91-days,
similar to Bahrain.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7374" NEWID="17929">
<DATE> 2-JUN-1987 06:18:20.85</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>saudi-arabia</D></PLACES>
<PEOPLE><D>hisham-nazer</D></PEOPLE>
<ORGS><D>opec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0440&#31;reute
b f BC-SAUDI-ARABIA-WILL-NOT   06-02 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>SAUDI ARABIA WILL NOT AGREE "MAD" OIL PRICE RISE</TITLE>
<DATELINE>    RIYADH, June 2 - </DATELINE><BODY>Saudi Arabia's Oil Minister Hisham Nazer
said Riyadh would not agree to a cut in oil prices and would
not accept a "mad" increase that would drive consumers away.
    He told al-Riyadh newspaper, "Saudi Arabia follows a
balanced petroleum policy. It does not approve of a decrease in
prices from current levels and it also does not accept a mad
increase that would drive consumers away and make them try and
find alternative sources (for energy)."
    OPEC agreed last December to cut production after world
prices hit new lows in 1986. They agreed on a pricing system
aimed to stabilise the market around 18 dlrs a barrel.
    OPEC is scheduled to meet in Vienna on June 25, where it
will review its current oil price and production policy.
    Saudi Arabia's King Fahd said last month that he wanted oil
prices to remain stable for the next two years.
    Saudi Arabia is the architect of the current pricing and
production pact, which is backed by Kuwait and the UAE. The
current pact set a production ceiling for first half 1987 of
15.8 mln bpd, and implemented fixed prices based on an 18 dlrs
a barrel average.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7375" NEWID="17930">
<DATE> 2-JUN-1987 06:22:13.08</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0443&#31;reute
u f BC-TAIWAN-CURBS-INFLOWS   06-02 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN CURBS INFLOWS OF FOREIGN EXCHANGE</TITLE>
<DATELINE>    TAIPEI, June 2 - </DATELINE><BODY>Taiwan's central bank announced that as
from today the overseas foreign exchange borrowings of local
and foreign banks would be frozen at the level they reached at
the end of May.
    The central bank's statement added that the measure would
be effective until the end of July.
    Bankers said the measure is designed to curb the inflow of
foreign exchange and slow the growth of money supply. They
added that the move, which sparked a record single day plunge
of the local stock market, would limit their ability to lend
foreign exchange to importers and exporters.
    Foreign exchange borrowings by local and foreign banks
reached almost 12 billion U.S. Dlrs by the end of April,
according to official statistics.
    Last week the central bank said that from today it would
reduce its purchase of forward U.S. Dollars from banks to 40
pct from 90 pct of the value of the contract. It said the move
was needed because of "distortions" in the foreign exchange
market.
    Exporters, nervous about the appreciating Taiwan dollar,
have been heavily selling forward U.S. Dollars on the interbank
market to avoid exchange rate losses.
    Official figures show that forward U.S. Dollar sales in May
reached a record of almost six billion U.S. Dlrs against 5.9
billion in April.
    All Taiwan's foreign exchange earnings must be converted
into local dollars, boosting money supply at a time of booming
exports. Money supply rose a seasonally adjusted 51.86 pct in
the year to end-April, raising fears of higher inflation.
    In March the central bank clamped tight restrictions on
remittances of foreign exchange by companies and individuals to
Taiwan in a move to curb inflows of speculative money.
    Economists and bankers estimate that the rising value of
the local dollar has attracted about ten billion U.S. Dlrs of
speculative money into Taiwan since early last year. It has
flowed in mainly from Hong Kong, Japan and the U.S..
    Since September 1985 the Taiwan dollar has risen by about
22 pct against the U.S. Dollar.
    Bankers said the government's efforts to stabilise the
foreign exchange market were a prelude to lifting all curbs on
capital outflows. The central bank has said the controls will
be dropped by the end of July or early August.
    Foreign exchange dealers said today's announcement caused
jitters in the market with foreign and local banks making heavy
purchases of U.S. Dollars. They said the central bank sold
about 30 mln U.S. Dlrs.
    Taiwan's stock market plunged a record 75.53 points to
close at 1,803.08.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7376" NEWID="17931">
<DATE> 2-JUN-1987 06:23:32.48</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>portugal</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0446&#31;reute
b f BC-CNP-OF-PORTUGAL-MANDA   06-02 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>CNP OF PORTUGAL MANDATES 250 MLN DLR LOAN</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>Companhia Nacional de Petroquimica EP
(CNP), the Portugese state-owned oil refinery and
petrochemicals company, has awarded a mandate to Bank of
America International Ltd and Manufacturers Hanover Ltd to
arrange a 250 mln dlr loan, banking sources said.
    The loan will be for eight years and proceeds will be used
to refinance existing debt.
    Interest will be at 12.5 basis points above the London
Interbank Offered Rate (Libor) for the first four years, with
the margin rising to 15 basis points in the last four years. No
other fees were immediately available.
    Bankers noted that CNP has faced significant financial
problems over the past year as a result of investments in areas
which proved to be unprofitable.
    Portugal is attempting to maintain its position in the
petrochemical industry and is undertaking a restructuring of
CNP, which involves the divestment of certain unprofitable
assets.
    Partly because of these problems, the new loan carries a
"letter of support and assumption" under which the Republic would
assume the obligations of CNP should it be unable to meet any
payments or cease to exist.
    Furthermore, bankers noted that this financing covers all
of CNP's existing debt, some of which was state-guaranteed but
some of which was not.
    The existing loans had maturities of about seven to 10
years and carried interest margins of between 3/8 and 5/8 pct.
    By consolidating the loans and covering them with the
Republic's support, the borrower was able to obtain a reduction
in the margins on the new loan, bankers said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7377" NEWID="17932">
<DATE> 2-JUN-1987 06:30:48.30</DATE>
<TOPICS><D>reserves</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0459&#31;reute
f f BC-U.K.-RESERVES-RISE-UN   06-02 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.K. RESERVES RISE UNDERLYING 4.8 BILLION DLRS IN MAY, (2.9 BILLION APRIL) - OFFICIAL
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7378" NEWID="17933">
<DATE> 2-JUN-1987 06:31:07.93</DATE>
<TOPICS><D>reserves</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0461&#31;reute
b f BC-U.K.-RESERVES-SHOW-RE   06-02 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. RESERVES SHOW RECORD UNDERLYING RISE IN MAY</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>Britain's gold and currency reserves rose
a record underlying 4.76 billion dlrs in May, following April's
2.9 billion dlrs increase, the Treasury said.
    The underlying trend indicates the level of recent Bank of
England intervention on currency markets to curb sterling's
strength. It was above market expectations which had been for a
rise of between one billion and three billion dlrs.
    The Treasury declined comment on the figures.
    Actual reserves rose 4.87 billion dlrs in May, compared
with April's 2.8 billion increase, to a total value of 34.68
billion dlrs, compared with 29.81 billion at the end of April.
    Borrowings under the exchange cover scheme were 238 mln
dlrs, against April's 66 mln. Repayments under the scheme were
85 mln dlrs, after 90 mln previously, with capital repayments
of eight mln, after three mln last month.
    Repayments of government debt amounted to 33 mln dlrs.
    The underlying reserves increase is net of borrowings and
repayments.
    It was larger than the previous record 3.04 billion dlrs
rise seen in October 1977. The May increase represents the
seventh monthly rise, with reserves up 9.947 billion dlrs in
that period, and up 9.816 billion since the start of 1987.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7379" NEWID="17934">
<DATE> 2-JUN-1987 06:33:35.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE><D>deng-xiaoping</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0467&#31;reute
u f BC-CHINA-DELAYS-REFORM-B   06-02 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA DELAYS REFORM BECAUSE OF POLITICS, ECONOMICS</TITLE>
<AUTHOR>    By Mark O'Neill, Reuters</AUTHOR>
<DATELINE>    PEKING, June 2 - </DATELINE><BODY>China had postponed wide-ranging plans to
reform its economy because of financial difficulties and
pressure from powerful conservatives within the ruling
Communist Party, western diplomats said.
    But they said that although the conservatives were critical
of aspects of the current open-door policy they had no
alternative economic program. That meant that the strategy
begun by top leader Deng Xiaoping in 1978 was likely to go on,
but at a slower pace, they said.
    Deng has led China's overhaul of the Stalinist economy
built during the rule of Chairman Mao. Since Mao died in 1976
living standards have risen sharply and China has become a net
exporter of grain for the first time.
    A western diplomat said China's leaders had been
sufficiently encouraged by their success last year to order the
drawing up of plans for more reforms for 1987. These included
changes to the country's price system.
    But he said the biggest reforms had been shelved since
economic problems appeared in late 1986 and the resignation of
Communist Party chief Hu Yaobang in January.
    The diplomat said the most ambitious reforms would not be
on the agenda for a major party meeting later this year.
    The main economic reform proceeding in 1987 is a system
under which factories sign contracts with the government. They
can keep any profit over and above the contract amount.
    "This is a modest reform, a repeat of what China did in the
early 1980s," the diplomat said.
    "It is regarded as second best by the reformers who drew up
the more ambitious plans. But these are impractical in the
current political and economic climate," he said.
    A Chinese source said that a month ago Premier Zhao Ziyang
decided the media was giving too much coverage to the drive
against bourgeois liberalism and not enough to explaining the
proposed reforms. Some of these reforms, like price increases,
were very unpopular.
    Zhao ordered the media to give more coverage to the reforms
and why they were necessary, the source said.
    One of China's top economists wrote in the People's Daily
last week, "Failure to answer people's questions about the new
prices has caused great anxiety."
    In March, China announced budget deficits for 1986 and
1987. It has had two years of trade deficits, and capital
spending and wages are rising fast.
    On the political front, the conservatives in the Party have
been on the offensive since January when Hu resigned. He
allegedly failed to fight the growth of western democratic
ideas, which the Party has called bourgeois liberalism.
    A nationwide drive against bourgeois liberalism has been
under way since January in the Party and the media. The latter
has given wide coverage to those in the leadership who have
warned against the errors of all-out westernisation.
    The economist said, "Although reform in any country
inevitably causes anxiety and is often risky, it has been
proved that, where reform is more daring, commodities are more
abundant and people's living standards higher."
    "But in the countries that are more rigid, the market is
stagnant, goods are in short supply and rationing is common," he
said.
    The diplomat said the reformers wanted to complete their
unfinished overhaul of China's pricing system.
    The diplomat said the reformers wanted to make factories
independent of the government which would use taxes, credit
supply and other indirect means to regulate them instead of
administrative diktat as in the past.
    "But to enact such far-reaching measures they need a stable
economy, contented workers and surpluses, to give them
manoeuvring room. These conditions do not exist now," he said.
    Another diplomat said that conservatives within the
leadership, though critical of some results of the reforms, had
no alternative economic strategy.
    "The last eight years of opening to the outside world has
shown everyone how poor China is and how it has fallen behind
other countries," the diplomat said.
    "Everyone is agreed on the objective that China become a
major world power by the early 21st century," he said.
    "For this, it needs a strong and modernised economy. Where
there is disagreement is over the pace of the reforms and the
details of some of them."
    The Chinese source said the debate over the pace and extent
of reforms was still going on.
    (See ECRA for spotlight index)
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7380" NEWID="17935">
<DATE> 2-JUN-1987 06:33:56.63</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>gatt</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f0469&#31;reute
u f BC-CHINA-TAKES-SERIOUS-V   06-02 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA TAKES SERIOUS VIEW OF MFA EXTENSION</TITLE>
<DATELINE>    PEKING, June 2 - </DATELINE><BODY>China took a serious view of a Multi-Fibre
Agreement (MFA) protocol which it said infringed principles of
the General Agreement on Tariffs and Trade (GATT), the People's
Daily overseas edition said.
    It quoted a spokesman of the Ministry of Foreign Economic
Relations and Trade as saying the protocol, signed on July 31
last year and which extended the MFA for five years, would
affect international textile trade by broadening curbs in it.
    Fifty major textile trading countries adopted the new MFA
last July in Geneva, limiting Third World exports of textiles
to industrialised countries.
    The newspaper said China signed the protocol on May 31, 10
months after it was signed by other nations.
    A U.S. Diplomat said the U.S. And China had had months of
talks on the issue, with the U.S. Saying that it would have to
introduce unilateral restraints if China did not sign.
    He said that the new MFA pact extended controls to silk and
ramie in addition to existing ones on cotton and man-made
fibres.
    China, the world's biggest producer of ramie and a major
silk producer, had flooded the U.S. Market the previous two
years with goods made from both and from linen because these
three categories were not under quota, the diplomat said.
    It had become the biggest supplier by volume, though not by
value, of textiles to the U.S., With exports in the first five
months of this year up by 24 pct from the same 1986 period.
    He estimated total 1987 textile exports would be 15 pct up
on the 1986 level.
    Chinese customs figures show exports of textile yarn,
fabrics, made-up articles and related products to the U.S. In
calendar 1986 as being worth 1.314 billion yuan, up from 870
mln in 1985.
    The diplomat said China and the U.S. Had held two rounds of
talks on drawing up a new three to five-year textile pact, to
replace the present one, due to expire at the end of 1987.
    They involved discussion of overshipment of Chinese
textiles this year to the U.S. Due to counterfeit licences, a
problem the Ministry of Foreign Economic Relations and Trade
admitted to last week, he said, but gave no more details.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7381" NEWID="17936">
<DATE> 2-JUN-1987 06:35:23.54</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0475&#31;reute
b f BC-CANADA-ISSUES-80-BILL   06-02 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA ISSUES 80 BILLION YEN EUROBOND</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>Canada is issuing an 80 billion yen
eurobond due June 25, 1992 paying 4-3/8 pct and priced at
101-1/2 pct, lead manager Nomura International Ltd said.
    The non-callable bond is available in denominations of one
mln and 10 mln yen and will be listed in Luxembourg. The
selling concession is 1-1/4 pct while management and
underwriting combined pays 5/8 pct.
    Payment date is June 25.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7382" NEWID="17937">
<DATE> 2-JUN-1987 06:39:52.91</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0487&#31;reute
u f BC-HOECHST-SALES-FALL-IN   06-02 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>HOECHST SALES FALL IN FIRST FIVE MONTHS</TITLE>
<DATELINE>    FRANKFURT, June 2 - </DATELINE><BODY>Hoechst AG &lt;HFAG.F> parent company
turnover fell in the first five months of 1987, with domestic
business losing seven pct and exports dropping eight pct from
the same period last year, management board chairman Wolfgang
Hilger told the annual meeting.
    In volume terms, however, turnover was somewhat improved,
he said. Domestic sales, by volume, were steady in the first
five months and export volume rose two pct.
    He gave no figures for turnover or sales volume.
    As already reported, parent company sales fell to 3.44
billion marks in the first quarter of 1987, 7.6 pct below the
first 1986 quarter. Domestic sales lost 6.6 pct and export
business fell by 8.5 pct compared with the 1986 quarter. First
quarter group pre-tax profits rose to 686 mln marks from 649
mln in the same period last year.
    Hilger said Hoechst's aim this year was to make prices
competitive internationally, but also to cover costs. The
compmany has already taken measures to reduce costs internally,
he said. Hoechst expects to post another good profit in 1987,
Hilger said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7383" NEWID="17938">
<DATE> 2-JUN-1987 06:40:36.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0490&#31;reute
u f BC-U.K.-BUILDING-SOCIETI   06-02 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. BUILDING SOCIETIES JOIN BANK CLEARING SYSTEM</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>The two largest U.K. Building societies,
the Halifax and Abbey National, said they have joined the
banks' centralised clearing system.
    The move is intended to cut the current four or five days'
delay in clearing credits and attract the direct payment of
customers' salaries into building societies rather than into
banks, spokesmen for the two societies said.
    It is the first time non-banking organisations have entered
the clearing system and emphasises the growing competition
between building societies and banks, industry sources said.
    The two societies yesterday joined the Bankers' Automated
Clearing Services (BACS) which settles small, automated
payments and the Association of Payment Clearing Systems
(APACS) which sets policy for Britain's payment systems.
    The Halifax had previously settled small payments through
Barclays bank and Abbey National through Lloyds bank, the
spokesmen said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7384" NEWID="17939">
<DATE> 2-JUN-1987 06:44:02.49</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>nakasone</D><D>sumita</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0502&#31;reute
f f BC-Nakasone,-Sumita-agre   06-02 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Nakasone, Sumita agree discount rate cut not appropriate now - central bank sources
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7385" NEWID="17940">
<DATE> 2-JUN-1987 06:49:54.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>philippines</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM C T G
&#22;&#22;&#1;f0514&#31;reute
r f BC-WORLD-BANK-CAN-AID-PH   06-02 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>WORLD BANK CAN AID PHILIPPINES' LAND DEVELOPMENT</TITLE>
<AUTHOR>    By Chaitanya Kalbag, Reuters</AUTHOR>
<DATELINE>    MANILA, June 2 - </DATELINE><BODY>The World Bank's policies prevent it from
lending money for the transfer of land from landowners to the
landless, but it can help finance development of the
Philippines' proposed land reform program, a bank official
said.
    "The World Bank by its established policies cannot use its
resources to finance the transfer of assets from one group to
another. Our mandate is to finance investment-related
activities," Rolando Arrivillaga, the bank's resident
representative in the Philippines, told Reuters in an
interview.
    Arrivillaga said he wanted to clarify part of a report by a
World Bank mission that came in March to review the land reform
program and which said the bank would not be able to finance
compensation payments for the transfer of land.
    He said the Philippine government had never asked the bank
to finance land transfers, and the bank's position should not
be taken to mean that it ruled out any lending for the program.
    "Clearly in the case of land reform the question of land
transfer by definition is transferring assets from the landed
to the landless," Arrivillaga said. "However, the bank as an
institution can finance the development aspects of the program."
    "We will deal with the part of the program that deals with
how to put the land to effective use once it has been
transferred and how to make the on-farm investments that are
needed to attain the goal of improving the income level of the
beneficiaries," Arrivillaga said.
    "I wouldn't be surprised if other multilateral institutions
are faced with similar constraints," he said.
    President Corazon Aquino's spokesman said last week that
she was committed to launching the program, which limits land
holdings to seven hectares, by using her sweeping powers of
rule by decree before a new Congress convenes in July.
    Presidential spokesman Teodoro Benigno said the land reform
program, estimated to cost about 44 billion pesos, would be
implemented in four phases and benefit 2.64 mln farmers.
    Benigno said the first two phases would complete the
transfer of rice and corn lands and abandoned farmland as well
as the transfer of land sequestered, expropriated or foreclosed
by the government and would cover 1.15 mln hectares.
    But Aquino would not decree the redistribution of large
sugar, banana and coconut plantations, leaving it to the
Congress to work out the details, Benigno said.
    Arrivillaga said bilateral aid donors, who form part of a
consultative group led by the World Bank, might be prepared to
finance the land transfers.
    "I don't think there are fast and easy rules as to how
international sources of finance would behave in a situation
like this, because land reform by its very nature requires rich
financing to be able to carry out the reform in a way equitable
to both the landowner and the beneficiary," he said.
    Arrivillaga said the first priority for the government
would be to tap domestic sources of financing for the land
transfer, but external assistance could be brought in if there
were gaps.
    "In such a fundamental reform the test of the willingness of
the government is how it confronts the domestic resource
requirement," Arrivillaga said. "Multilateral agencies by their
very nature are lenders of last resort. It means they have to
be convinced that the government prioritises the program."
    He said the World Bank had financed developmental costs
under an earlier land reform program launched by former
President Ferdinand Marcos in 1972, and such aid had been
channelled through the Land Bank of the Philippines (LBP).
    The LBP is the main implementing agency under Aquino's
program.
    "If asked to do so again and the program is designed to
improve the standard of living of the poor then we would
certainly be prepared to consider (lending)," Arrivillaga said.
    He said the tendency in such programs was to exaggerate the
costs by presenting ten-year perspectives in a one-year
context.
    Arrivillaga said the government could solve most of its
financing problems by devising effective instruments to
compensate landowners.
    Finance Secretary Jaime Ongpin has said landowners are
likely to be paid 10 pct in cash and the rest in 10-year bonds
with 10 pct of their face value redeemable each year.
    Arrivillaga said any instruments used to compensate
landowners had to be freely tradable at near face value and
added: "The challenge is to devise a system of deferred payments
that is as good as cash."
    He said the international financing community was watching
the Philippine experiment with great interest.
    "They are going to be an interesting model for many other
countries because they opened a dialogue on the reforms to
every sector of the population and even international
institutions," he said. "I think they'll be on a very solid base
when they make the decision to launch the reforms."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7386" NEWID="17941">
<DATE> 2-JUN-1987 06:51:54.44</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0522&#31;reute
b f BC-MITSUBISHI-CHEMICAL-I   06-02 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>MITSUBISHI CHEMICAL ISSUES EQUITY WARRANT BOND</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>Mitsubishi Chemical Industries Ltd
&lt;MCIT.T> is issuing a 200 mln dlr equity warrant eurobond due
June 30, 1992 with an indicated coupon of 1-1/2 pct and par
pricing, lead manager Yamaichi International (Europe) Ltd said.
    Final terms for the issue will be set on June 10. The
selling concession is 1-1/2 pct, while management and
underwriting each pay 3/8 pct. The issue is available in
denominations of 5,000 dlrs and will be listed in Luxembourg.
    The payment date is June 30 and the warrants are
exercisable from July 15, 1987 until June 16, 1992.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7387" NEWID="17942">
<DATE> 2-JUN-1987 06:55:57.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0530&#31;reute
u f BC-NEW-PRIMARY-MARKET-RU   06-02 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW PRIMARY MARKET RULES TO TAKE EFFECT JUNE 15</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>The International Primary Market
Association's new rules for lead managers of fixed rate dollar
bonds will take effect on June 15, an IPMA official said.
    The new IPMA rules require a lead manager to quote firm
prices at which it will buy and sell newly issued bonds for 12
months after the launch. The rules were first proposed March
27.
    Christopher Sibson, secretary general of IPMA, said the
rules are not expected to have a noticeable impact on the
market because they only apply to dollar denominated bonds,
which have been scarce recently.
    This year, euroyen issuance has outstripped dollar bonds.
    Sibson said that the rules are intended to provide greater
liquidity in the new issues market where underwriters sometimes
step away from deals they have managed if the market moves away
from them.
    However, he noted that the IPMA rules are voluntary and the
organization has no authority to enforce them.
    Sibson said that similar rules for new issues denominated
in other currencies will be put into effect later, following
consultation with the Association of International Bond
Dealers, another trade organization.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7388" NEWID="17943">
<DATE> 2-JUN-1987 06:59:30.51</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>nakasone</D><D>sumita</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f0535&#31;reute
b f BC-NAKASONE,-SUMITA-AGRE   06-02 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>NAKASONE, SUMITA AGREE RATE CUT NOT APPROPRIATE</TITLE>
<DATELINE>    TOKYO, June 2 - </DATELINE><BODY>Prime Minister Yasuhiro Nakasone today
agreed with Bank of Japan governor Satoshi Sumita that a
further cut in the discount rate was not appropriate at
present, central bank sources said.
    They told Reuters the two discussed the subject at a
routine meeting.
    Sumita told Nakasone he did not feel a rate cut was
appropriate and Nakasone expressed his understanding, the
sources said.
    Currency dealers have speculated that Japan and West
Germany might come under pressure at next week's Venice summit
to cut interest rates to boost their economies.
    Nakasone, but not Sumita, is due to attend the summit.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7389" NEWID="17944">
<DATE> 2-JUN-1987 07:11:17.36</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0559&#31;reute
r f BC-NABISCO-EXPECTED-TO-I   06-02 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>NABISCO EXPECTED TO ISSUE DOLLAR STRAIGHT</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>Nabisco Brands Inc, or one of its units,
is expected to issue shortly a dollar straight eurobond,
probably totalling 100 mln dlrs, bond market sources said.
    They said they expect the issue will have a seven year
maturity, but to have an investor put option after four years
at par. The coupon is expected to be 8-3/4 pct while pricing
will be at 101-3/8 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7390" NEWID="17945">
<DATE> 2-JUN-1987 07:11:36.56</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0560&#31;reute
r f BC-RJR-NABISCO-INC-ISSUE   06-02 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>RJR NABISCO INC ISSUES 100 MLN DLR EUROBOND</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>RJR Nabisco Inc is issuing a 100 mln dlr
eurobond due June 30, 1994 paying 8-3/4 pct and priced at
101-3/8 pct, lead manager of Bank of America International Ltd
said. This confirms an earlier report by bond market sources.
    The issue has an investor put option after four years at
par but is non-callable. The selling concession is 1-1/8 pct
while management and underwriting combined pays 1/2 pct.
    The issue is available in denominations of 1,000 and 10,000
dlrs and listing will be in Luxembourg. The payment date is
June 30.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7391" NEWID="17946">
<DATE> 2-JUN-1987 07:14:55.91</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0570&#31;reute
r f BC-JAPAN-RAISES-LIMITS-O   06-02 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN RAISES LIMITS ON NON-LIFE INSURERS' LENDING</TITLE>
<DATELINE>    TOKYO, June 2 - </DATELINE><BODY>The Finance Ministry would raise lending
limits on local non-life insurance firms to meet the increasing
need for efficient fund management, a ministry spokesman said.
    He said the allowable non-collateral lending limits would
be increased to 30 pct of each insurer's total assets from 25
pct and that overseas subsidiaries will be made eligible as
borrowers.
    The lending limit for non-life insurers which do not
satisfy criteria for making non-collateral loans would be
expanded to three pct of total assets from one pct.
    The upper limit of lending of securities by non-life
insurance companies, now set at five pct of each insurer's
total assets would be abolished, the official said.
    This will enable such lending by non-life insurers to be
included in the separate category of money lending, which is
limited to 55 pct of the total assets of each insurer.
    Approvals for the changes, which must be given to each
insurer on application, were expected to begin soon, possibly
as early as next week.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7392" NEWID="17947">
<DATE> 2-JUN-1987 07:18:35.18</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0584&#31;reute
r f BC-JAPAN-TO-USE-TAX-CARR   06-02 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN TO USE TAX CARRY-OVER TO HELP FUND PACKAGE</TITLE>
<DATELINE>    TOKYO, June 2 - </DATELINE><BODY>Government tax revenues for the 1986/87
 year ended March 31 were more than 600 billion yen higher than
forecast and could be used to help fund the economic package
announced last week, Finance Ministry sources said.
    The final figure for 1986/87 will not be available until
next month, but some local newspapers speculated that the
carryover could be as much as 1,000 billion yen.
    The government is due to introduce a supplementary budget
during an extarordinary parliamentary session expected to start
in July. The budget will be used to finance the central
government share of last Friday's emergency economic package.
    That package totalled more than 6,000 billion yen,
including more than 1,000 billion in tax cuts.
    Government officials including Finance Minister Kiichi
Miyazawa have previously said possible revenue sources for tax
cuts include the tax revenue carryover from 1986/87 and
proceeds from the sale of shares in the privatized Nippon
Telegraph and Telephone Corp.
    The sale of 1.95 mln NTT shares in 1986/87 left about 450
billion yen available for use as a revenue source for tax cuts,
the sources said. Another 1.95 mln are expected to be sold in
the current fiscal year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7393" NEWID="17948">
<DATE> 2-JUN-1987 07:19:03.64</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f0586&#31;reute
r f BC-JAPAN-CONCERNED-AT-EC   06-02 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN CONCERNED AT EC TRADE THREATS - MINISTER</TITLE>
<DATELINE>    TOKYO, June 2 - </DATELINE><BODY>Japan is disappointed at the recent threats
of trade retaliation from the European Community (EC) just as
the trade situation between the two is improving, Japanese
Trade and Industry Minister Hajime Tamura said.
    "I am deeply concerned that the EC has moved to take a
harsher line toward Japan despite this tangible improvement," he
said in a speech prepared for delivery at the opening of a new
centre designed to improve understanding between the two sides.
    Last week, foreign ministers of the 12 EC nations agreed to
impose tariffs on a range of unspecified Japanese electrical
goods unless Tokyo opened its markets more to EC exports.
    Tamura referred to a 55 pct rise in Japanese imports of EC
manufactured goods in the year ended March 31.
    "I feel this is a strong step on the road to balance through
expansion."
    "While I do not deny the existence of the trade deficit
between Japan and the EC, I believe it should be rectified not
by reducing trade through import restrictions or export
restraints, but by expanding the (overall) trade," Tamura said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7394" NEWID="17949">
<DATE> 2-JUN-1987 07:24:10.38</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0605&#31;reute
u f BC-INTEL,-MATRA-HARRIS-D   06-02 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>INTEL, MATRA-HARRIS DISSOLVE CIMATEL PARTNERSHIP</TITLE>
<DATELINE>    PARIS, June 2 - </DATELINE><BODY>Intel Corp &lt;INTC> of Santa Clara, Calif.
And Matra-Harris-Semiconducteurs (MHS) said their Cimatel joint
venture design facility was dissolved as from June 1.
    Intel makes logic and memory components. MHS is a joint
venture of the Matra group &lt;MATR.PA> and Harris Corp &lt;HRS>.
    Cimatel was formed in 1982 to design standard VLSI devices
for the telecommunications and computer graphics markets.
    MHS said in a statement that changing market conditions had
led Intel to reassess its marketing policy. It had concluded
that without common marketing goals a common design centre was
impractical.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7395" NEWID="17950">
<DATE> 2-JUN-1987 07:27:34.19</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0609&#31;reute
u f BC-GLYNWED-BUYS-GALLAHER   06-02 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>GLYNWED BUYS GALLAHER UNITS FOR AROUND 14 MLN STG</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>Glynwed International Plc &lt;GLYN.L> said it
had bought all the issued shares of two companies belonging to
Gallaher Ltd, a subsidiary of American Brands Inc &lt;AMB>, in a
deal worth around 14 mln stg.
    The full names of the companies purchased from Gallaher are
&lt;Formatura Iniezione Polimeri Spa>, Genoa and &lt;FIP U.K. Ltd>,
Weybridge.
    Consideration for the purchases, which will be based on the
net asset values per share of the companies, has yet to be
finalised but some nine mln stg of the total represents debt
assumed by Glynwed.
    FIP is a manufacturer of valves and other pressure pipe
fittings in thermoplastics. Its products are complementary to
those of Glynwed subsidiaries, Durapipe U.K. And Philmac.
    The acquisitions appreciably develop and strengthen
Glynwed's strategic position in the thermoplastic pipework
systems market.
    The sale by Gallaher reflects a decision to dispose of more
peripheral businesses. Proceeds of the sale will be used in the
continuing expansion of the Gallaher group. Glynwed shares were
up 5p to 494 after the announcement. Gallaher is not quoted on
the London Stock Exchange.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7396" NEWID="17951">
<DATE> 2-JUN-1987 07:30:52.32</DATE>
<TOPICS></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0613&#31;reute
u f BC-ITALIAN-MINISTER-APPR   06-02 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>ITALIAN MINISTER APPROVES TELECOMMUNICATIONS FIRM</TITLE>
<DATELINE>    ROME, June 2 - </DATELINE><BODY>Italy's Ministry of State Participation said
it formally approved the telecommunications joint venture
between STET, a subsidiary of the state holding company
&lt;Istituto per la Ricostruzione Industriale> (IRI) and Fiat Spa
&lt;FIAT.MI>.
    A ministry spokesman said Minister Clelio Darida passed the
joint venture &lt;Telit - Telecommunicazioni Italiane Spa> this
morning. Darida's approval was needed for the venture.
    STET and Fiat each hold 48 pct of Telit's capital, with the
remaining stake held by state merchant bank Mediobanca Spa
&lt;MDBI.MI>.
    The spokesman said Darida's approval includes a provision
that if the government eventually reduces its majority stake in
Mediobanca, the bank's four pct Telit shareholding will be
transferred to another public financial institution.
    As reported, Telit will group the operations of Fiat's
subsidiary Telettra Spa and STET's Italtel - Societa Italiana
Telecommunicazioni Spa.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7397" NEWID="17952">
<DATE> 2-JUN-1987 07:33:02.61</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>kuwait</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0620&#31;reute
u f BC-KUWAITI-DINAR-RATES-F   06-02 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>KUWAITI DINAR RATES FIRM, AID WINDOW OPEN</TITLE>
<DATELINE>    KUWAIT, June 2 - </DATELINE><BODY>Interest rates on Kuwaiti dinar deposits
held firm in scattered trading despite a Central Bank decision
to revive limited funding lines, dealers said.
    The Central Bank, which last Tuesday shut a daily aid
window through which it lent funds of up to one year, reopened
the facility for three month money, which was available at
seven pct, they said.
    It offered one month funds at seven pct through swap
facilities, dealers said.
    Today's Central Bank action, combined with sales of dollars
by some banks, helped ease a recent credit squeeze engineered
by the monetary authority to stem a rush for the U.S. Currency
arising from attractive U.S. Interest rates and Gulf tension,
dealers said.
    However, as one dealer noted: "The market is still
unsettled."
    Overnight funds, bid at 20 pct at the outset of business,
traded up to 30 pct before easing as liquidity dragged offers
down to 10 pct by the close. Tomorrow-next, for which buy/sell
quotes started at 30, 20 pct, ended at 14, eight.
    Spot-next was indicated at 8-1/2, seven after opening bids
of 10. Dealers quoted one-week at eight, seven against an early
9-1/2, 7-1/2.
    One month rates were at the same level after trade at eight
then 8-1/2. Dealers quoted three months at seven, 6-3/4 pct and
six-month to one year funds at seven, six pct. They reported
offshore offers of overnight at 10, tomorrow-next at eight and
one year at 6-1/2 pct towards the close.
     The Central Bank fixed its dinar exchange rate steady at
0.27933/67 to the dollar, against yesterday's 0.27939/73. The
spot dinar was 0.27930/40.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7398" NEWID="17953">
<DATE> 2-JUN-1987 07:36:58.68</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>usa</D><D>japan</D><D>west-germany</D><D>canada</D><D>france</D><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0628&#31;reute
u f BC-FEW-EXPECT-NEW-ECONOM   06-02 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>FEW EXPECT NEW ECONOMIC INITIATIVES IN VENICE</TITLE>
<AUTHOR>    By Geert Linnebank, Reuters</AUTHOR>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>The Venice summit on June 8-10 is likely
to disappoint those hoping for new policies to whip up flagging
world growth, according to officials from summit countries.
    Worries over protectionist threats and the Third World debt
crisis are also unlikely to be assuaged, they added.
    The talks may yield agreed statements on the military
situation in the Gulf, co-operation in the fight against the
killer disease AIDS or on East-West relations, they said.
    But most summit participants have made it clear that major
new initiatives on economic issues must not be expected.
    West German Chancellor Helmut Kohl said in a recent
interview that "the translation of previous announcements into
policy is more important than new declarations and commitments."
    The main goal at the summit would be to strengthen existing
agreements to secure steady medium term growth and avoid "the
danger of a further devaluation of the dollar" via close
co-operation on economic and financial policies, Kohl added.
    Critics challenged this view. They pointed to the worrying
background of slower growth, especially in Japan and Germany,
amid fears about a pickup in inflation in the U.S. Which could
lead to higher interest rates and exacerbate the debt crisis.
    The marginal impact that the major shifts in dollar, yen
and mark exchange rates have had on the Japanese and German
trade surpluses and U.S. Trade and fiscal deficits since the
September 1985 Plaza agreement was also a cause for concern.
    Economists said the recent rise in the dollar was likely to
be quickly reversed in the absence of new commitments in
Venice.
    But government officials do not expect summit delegations -
from the U.S., Japan, Germany, Britain, France, Italy, Canada
and the European Community - to go much beyond restating policy
goals enshrined in the February Louvre agreement of Group of
Seven finance ministers and central bankers.
    Under the agreement, aimed at halting the dollar's 20-month
decline and at fostering balanced growth, Japan and West
Germany would work to eliminate their trade and payments
surpluses in return for a U.S. Pledge to reduce fiscal
deficits.
    A 6,000 billion yen package announced by Prime Minister
Yasuhiro Nakasone last week went some way towards that goal and
appeared to have saved Japan from a widely anticipated summit
attack on its economic policies, officials said.
    The package, featuring government spending and tax cuts to
stimulate demand, drew a cautious welcome in European capitals
but its reception in the U.S. Was much more enthusiastic.
    Treasury Secretary James Baker commented, "Of course,
implementation is the key, but this is clearly forward movement
toward fulfillment by Japan of its commitments."
    With Japan signalling its willingness to boost domestic
demand rather than rely on exports for growth, the U.S. And
other summit countries were now set to shift their attention to
West Germany and press Kohl for similar action, officials said.
    U.S. Assistant treasury secretary David Mulford said there
was worldwide concern that German economic growth has flagged,
and the U.S. Would demand that Kohl confirm a commitment that
policies would be reviewed if growth continued sluggish.
    But West German officials said Kohl would fiercely resist
any such pressure. One senior Bonn official said, "There is just
no room for manoeuvre for any economic moves."
    Finance minister Gerhard Stoltenberg has problems finding
cash to finance tax cuts promised for 1990, and is reluctantly
letting government borrowing rise, Bonn officials said.
    Citing fierce opposition by West Germany and Britain,
European officials also ruled out progress on U.S. Plans for a
more formal strategy for coordinating economic policies, based
on a series of economic indicators.
    The U.S. Wants other Group of Seven countries to agree to
high level consultations when the indicators, including trade,
growth, interest and exchange rates, inflation and fiscal
deficits, show members are not living up to economic
commitments.
  But Germany and Britain fear the plan would undermine
economic sovereignty, and Britain also feels the proposals are
too complicated and too rigid, officials said.
    Recent developments on Third World debt, including moves by
two of the largest U.S. Banks to set aside billions of dollars
to cover bad loans, will feature prominently in the talks.
    U.S. And Japanese officials said they would seek to
reactivate the Baker initiative at the summit and renew a call
to commercial banks to come up with a "menu of alternatives" to
restore some new bank lending to debtor countries.
    Officials said there was also scope for agreement on a
Franco-British plan aimed at alleviating the burden for the
world's poorest debtor countries through concessional
rescheduling of their sovereign debt at the Paris Club.
    The talks would also include plans to dismantle runaway
farm subsidies all summit nations pay to guarantee the income
of their farmers and secure a share of world markets, they
said.
    The 24 members of the Organisation for Economic Cooperation
and Development (OECD) last month supported a gradual
decoupling of farm production subsidies from income support for
farmers.
    The U.S., Canada and Britain in particular are keen to move
quickly after the OECD breakthrough, officials said.
    "What we want is not for treasuries to compete as they do
now. We want to see to it that our farmers will be able to
compete in international markets," Canadian Prime Minister Brian
Mulroney said.
    The U.S. Intends to table specific proposals on the issue
at GATT, the world trade body, immediately after the summit to
signal that it wants negotiations on farm trade to take
precedence over the other trade issues included in the new GATT
round of talks launched last year in Punta del Este, Uruguay.
    "We won't have much tolerance for delay," U.S. Agriculture
Secretary Richard Lyng said.
    But European officials said they would resist such moves,
making an agreement at the summit unlikely. France and other EC
countries insist that farm trade disputes be resolved as part
of a wider trade settlement within GATT, they said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7399" NEWID="17954">
<DATE> 2-JUN-1987 08:05:31.52</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0685&#31;reute
u f BC-NEWBERY-&lt;NBE>-FAILS-I   06-02 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>NEWBERY &lt;NBE> FAILS IN GETTING LONGTERM FUNDING</TITLE>
<DATELINE>    TEMPE, Ariz., June 2 - </DATELINE><BODY>Newbery Corp said Fireman's Fund
Corp &lt;FFC> ane United Bancorp of Arizona &lt;UBAZ.O> have elected
not to extend a financing agreement with Newbery, and the
company has been unsuccessful in securing long-term financing
from other sources.
    It said Fireman's Fund has declined to provide long-term
financial assistance and United does not intend to extend the
maturity of 11 mln dlrs in notes owed by Newbery beyond
yesterday.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7400" NEWID="17955">
<DATE> 2-JUN-1987 08:06:41.03</DATE>
<TOPICS><D>grain</D><D>wheat</D><D>ship</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0688&#31;reute
u f BC-SHIP-PREPARES-TO-LOAD   06-02 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>SHIP PREPARES TO LOAD WHEAT FOR FIJI AT GEELONG</TITLE>
<DATELINE>    SYDNEY, June 2 - </DATELINE><BODY>The French ship Capitaine Wallis, 13,847
dwt, berthed at the port of Geelong in Victoria today to load
8,000 tonnes of urgently needed wheat for Fiji after Australian
port unions partly lifted a trade embargo, shipping sources
said.
    The wheat is expected to be loaded tomorrow, an Australian
Wheat Board spokesman said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7401" NEWID="17956">
<DATE> 2-JUN-1987 08:09:33.41</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0701&#31;reute
u f BC-BOEING-&lt;BA>-STARTS-AR   06-02 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>BOEING &lt;BA> STARTS ARGOSYSTEMS &lt;ARGI.O> BID</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>Boeing co said it has started the 37 dlr
per share tender offer for all shares of ARGOSystems Inc that
it announced yesterday morning.
    In a newspaper advertisement, the company said the offer,
withdrawal rights and proration deadline all expire June 30
unless extended.
    The offer is not conditioned on receipt of any minimum
number of shares, Boeing said.  If at least 90 pct of
ARGOSystems' shares are tendered, it said it will buy all
shares, but if less than 90 pct are tendered, it said it plans
to buy only 49 pct in the offer.
    Boeing said if less than 90 pct of ARGOSystems' shares are
tendered, but the purchase of all shares tendered along with
the exercise of options it holds would give it over 90 pct of
ARGOSystems, Boeing may buy all shares tendered.
    ARGOSystems has granted Boeing an option to buy up to
1,238,311 new shares or a 15.6 pct interest at 37 dlrs each,
and shareholders have granted Boeing an option to purchase up
to 597,885 shares at the same price, or about 8.9 pct of those
now outstanding, without taking the company option into
consideration.  A merger at the tender price that has been
approved by the ARGOSystems board is to follow the offer.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7402" NEWID="17957">
<DATE> 2-JUN-1987 08:12:26.46</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F E
&#22;&#22;&#1;f0712&#31;reute
r f BC-DUMEZ-HAS-478,125-UNI   06-02 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>DUMEZ HAS 478,125 UNITED WESTBURNE&lt;UWI.TO>SHARES</TITLE>
<DATELINE>    MONTREAL, June 2 - </DATELINE><BODY>Dumez Investments Inc said it is
accepting and paying for 478,125 shares of United Westburne
Industries Ltd in response to its 25 dlr per share tender offer
and it has extended the offer until June 26.
    Dumez, 70 pct owned by Dumez SA &lt;DUMP.PA> and 30 pct by
Unicorp Canada Corp &lt;UNIA.TO>, said the 478,125 shares
represent 81.6 pct of those not controlled by Westburne
International Ltd, which Dumez previously acquired in a tender.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7403" NEWID="17958">
<DATE> 2-JUN-1987 08:15:26.19</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>italy</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0722&#31;reute
r f BC-ITALY'S-AGIP-PETROLI   06-02 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>ITALY'S AGIP PETROLI BUYS STAKE IN U.S. COMPANY</TITLE>
<DATELINE>    ROME, June 2 - </DATELINE><BODY>State oil firm Agip Petroli Spa said it has
acquired a 50 pct stake in Steuart Petroleum Co, an independent
U.S. Oil products company. Financial terms were not disclosed.
    Agip Petroli, a subsidiary of state energy concern Ente
Nazionali Idrocarburi, said in a statement that the remaining
50 pct of the U.S. Firm is owned by Steuart Investment Co, a
holding company that also operates in the sectors of
transportation, hotels and insurance.
    The Italian firm said Steuart Petroleum operates primarily
on the East Coast.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7404" NEWID="17959">
<DATE> 2-JUN-1987 08:29:53.12</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0749&#31;reute
r f AM-AIDS-PEPTIDES   06-02 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>RESEARCHERS FIND PROMISING ANTI-AIDS AGENT</TITLE>
<DATELINE>     WASHINGTON, June 2 - </DATELINE><BODY>Peptide T, a minute chemical
structure that can be easily manufactured, effectively blocks
the attack of the deadly AIDS virus on human cells, researchers
claimed.
     The U.S. National Institute of Mental Health announced at
the third annual International Conference on Acquired Immune
Deficiency Syndrome that Peptide T, first identified by
institute neuro-scientist Dr. Candace Pert, "potently blocks
entry of the AIDS virus into cells..."
    
    The U.S. Food and Drug Administration has quickly approved
clinical testing of the naturally-occurring brain chemical. The
decision  makes possible tests on AIDS victims.
      Dr. Frederick Goodwin, the institute's scientific
director, said in a joint interview with Pert, that "my gut
reaction is that we are onto something."
      He said that based on initial findings Peptide T may hold
more promise as a treatment for those already suffering from
AIDS, but could also have some value in the search for a
vaccine to prevent the spread of the disease.
   
    A research team has found that Peptide T is capable of
fully reversing brain cell damage caused by AIDS under a
variety of laboratory tests.
    Pert said that she sent doses of Peptide T last autumn to a
Swedish doctor who provided the chemical to four AIDS patients.
One died, but the three survivors showed some improvement, she
said.
   
    Goodwin said that three major drug firms, which he declined
to identify, are anxious to win permission to produce the
Peptide T substance that he said has potential for finding a
vaccine to safeguard against the deadly disease that has
threatened the lives of over a million people thus far.
    Pert said that the clinical testing in the United States
would involve at least a dozen AIDS patients in a controlled
environment, probably starting next month, which would
hopefully verify the chemical's usefulness.        
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7405" NEWID="17960">
<DATE> 2-JUN-1987 08:32:00.28</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0757&#31;reute
u f BC-CAROLCO-&lt;CRC>-MAY-BID   06-02 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>CAROLCO &lt;CRC> MAY BID FOR LIEBERMAN &lt;LMAN.O></TITLE>
<DATELINE>    MINNEAPOLIS, June 2 - </DATELINE><BODY>Lieberman Enterprises Inc said
Carolco Pictures Inc is negotiating for the acquisition of the
50 pct of Lieberman shares held by the families of chairman
David Lieberman and president Harold Okinow at 20.50 dlrs each,
and if the deal were concluded, public shareholders would be
offered the same price for their shares.
    Lieberman said the Carolco bid to its public shareholders
would be in cash or shareholders could be offered securities as
an alternative. The offer would occur within about 90 days
after the closing of the sale of the initial 50 pct stake, the
company said.
    The company said a final agreement has not yet been reached
on the first transaction, but negotiations are expected to be
concluded in early June. Present management is expected to
continue to operate Lieberman, the company said. Lieberman
distributes prerecorded music, video movies and other products.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7406" NEWID="17961">
<DATE> 2-JUN-1987 08:34:58.00</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A RM
&#22;&#22;&#1;f0777&#31;reute
u f BC-RAINIER-&lt;RBANK.O>-TO   06-02 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>RAINIER &lt;RBANK.O> TO HAVE LOSS FROM PROVISION</TITLE>
<DATELINE>    SEATTLE, June 2 - </DATELINE><BODY>Rainier Bancorp said it will add an extra
58 mln dlrs to its loan loss reserve in the second quarter for
possible credit losses related to Third World loans, causing a
net loss of about 19 mln dlrs or 87 cts per share for the
quarter and a loss of two mln dlrs or nine cts a share for the
half.
    It said second half earnings are expected to be at "normal
profitability levels," resulting in "significant" profits for
the year as a whole.
    The company said the addition will raise its loan loss
reserve to 136 mln dlrs.
    Rainier said the special addition to its reserves
represents about one third of its total Third World debt
exposure.
    It said it expects no change in its dividend policy -- it
now pays 29 cts per share on a regular quarterly basis -- and
plans to continue current dividend payments until it completes
its proposed merger into Security Pacific Corp &lt;SPC>.
    Yesterday, Security Pacific itself said it would set up a
500 mln dlr reserve for Third World loans, causing a loss of
about 175 mln dlrs for the second quarter.
    Rainier earned 17.4 mln dlrs or 86 cts per share in last
year's second quarter and 32.9 mln dlrs or 1.62 dlrs per share
in last year's first half.
    For all of 1986, Rainier earned 70.0 mln dlrs or 3.41 dlrs
per share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7407" NEWID="17962">
<DATE> 2-JUN-1987 08:41:35.96</DATE>
<TOPICS><D>grain</D><D>wheat</D><D>rice</D></TOPICS>
<PLACES><D>fiji</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0788&#31;reute
u f PM-FIJI   06-02 0180</UNKNOWN>
<TEXT>&#2;
<TITLE>BOMB THREATS, STRIKES AS FIJI SEES END TRADE BAN</TITLE>
<DATELINE>    SUVA, June 2 - </DATELINE><BODY>Fiji today welcomed the ending of a trade
ban imposed by Australian labor unions as supporters of the
country's ousted prime minister Timoci Bavadra renewed pressure
for his reinstatement with strikes and shop closures.
    The government welcomed a decision by the Australian
Waterside Workers' Federation to lift its ban on shipments to
Fiji, imposed in support of Bavadra, whose newly-elected
government was overthrown in a military coup on May 14.
    The ban had threatened food shortages of imported wheat,
fresh vegetables and medicines. A direct result of the union
decision would be the immediate shipment of 9,000 tons of rice
and wheat from an Australian port, the government said.
    Shops in Nadi and Lautoka, center of the country's sugar
industry, closed again today in support of Bavadra.
    In Nadi two bomb threats forced evacuation of the
Australian Westpac bank, but police said they turned out to be
a hoax. Bavadra has launched a campaign of civil disobedience
to press for his reinstatement.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7408" NEWID="17963">
<DATE> 2-JUN-1987 08:41:57.20</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>saudi-arabia</D></PLACES>
<PEOPLE><D>hisham-nazer</D></PEOPLE>
<ORGS><D>opec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A
&#22;&#22;&#1;f0791&#31;reute
u f BC-SAUDI-ARABIA-WILL-NOT   06-02 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>SAUDI ARABIA OPPOSES DRASTIC CHANGE IN OIL PRICE</TITLE>
<DATELINE>    RIYADH, June 2 - </DATELINE><BODY>Saudi Arabia's Oil Minister Hisham Nazer
said Riyadh would not agree to a cut in oil prices and would
not accept a "mad" increase that would drive consumers away.
    He told al-Riyadh newspaper, "Saudi Arabia follows a
balanced petroleum policy. It does not approve of a decrease in
prices from current levels and it also does not accept a mad
increase that would drive consumers away and make them try and
find alternative sources (for energy)."
    OPEC agreed last December to cut production after world
prices hit new lows in 1986. They agreed on a pricing system
aimed to stabilize the market around 18 dlrs a barrel.

    OPEC is scheduled to meet in Vienna on June 25, where it
will review its current oil price and production policy.
    Saudi Arabia's King Fahd said last month that he wanted oil
prices to remain stable for the next two years.
    Saudi Arabia is the architect of the current pricing and
production pact, which is backed by Kuwait and the UAE. The
current pact set a production ceiling for first half 1987 of
15.8 mln bpd, and implemented fixed prices based on an 18 dlrs
a barrel average.

 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7409" NEWID="17964">
<DATE> 2-JUN-1987 08:45:59.58</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0805&#31;reute
r f BC-HANSON-TRUST-SHOWS-SH   06-02 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>HANSON TRUST SHOWS SHARPLY HIGHER HALF-YEAR PROFIT</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>Six months ended March 31, 1987
    Share 6.0p vs 4.1p, diluted
    Interim dividend 1.4p vs 1.05p
    Pre-tax profit 312 mln stg vs 158 mln
    Net profit 234 mln vs 114 mln
    Sales 3.47 billion vs 1.55 billion
    Operating profit 296 mln vs 164 mln
    Interest and other income less central expenses credit 16
mln vs debit six mln
    Company's full name is Hanson Trust Plc &lt;HNSN.L>.
    U.K. Operating profit by sector -
    Consumer goods 123 mln stg vs 32 mln
    Building products 31 mln vs 26 mln
    Industrial 14 mln vs same
    Food 20 mln vs nil.
    U.S. Sectors -
    Consumer goods 25 mln stg vs 20 mln
    Building products 29 mln vs 25 mln
    Food seven mln vs two mln
    Businesses owned in 1986 and sold during 1987 nil vs nine
mln.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7410" NEWID="17965">
<DATE> 2-JUN-1987 08:48:38.66</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0808&#31;reute
u f BC-HARNISCHFEGER-INDUSTR   06-02 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>HARNISCHFEGER INDUSTRIES INC &lt;HPH> 2ND QTR NET</TITLE>
<DATELINE>    MILWAUKEE, June 2 - </DATELINE><BODY>April 30 end
    Oper shr 20 cts vs 19 cts
    Oper net 4,625,000 vs 6,781,000
    Sales 250.2 mln vs 150.9 mln
    Orders 351.5 mln vs 122.5 mln
    1st half
    Oper shr 29 cts vs 26 cts
    Oper net 7,453,000 vs 12.0 mln
    Sales 441.1 mln vs 255.6 mln
    Orders 576.6 mln vs 221.1 mln
    Backlog 848.3 mln vs 459.2 mln
    NOTE: Prior year net excludes losses from discontinued
operations of 32.9 mln dlrs in quarter and 35.7 mln dlrs in
half.
    Net excludes tax credit 2,540,000 dlrs vs credit reversal
2,300,000 dlrs in quarter, credit 5,500,000 dlrs vs nil half.
    Results include Syscom Corp from December 30, 1986 purchase
and Beloit Corp from March 31, 1986 purchase.  Orders exclude
253.6 mln dlrs acquired with Syscon acquisition.
    Backlog at January 31 747 mln dlrs.
    Average shares 21.5 mln vs 13.3 mln in quarter and 18.9 mln
vs 13.3 mln in half.
    Income tax provisions 2,200,000 dlrs vs 3,450,000 dlrs in
quarter and 6,200,000 dlrs vs 7,225,000 dlrs in half.  Current
quarter tax rate of 27.5 pct benefited from Wisconsin
Department of Revenue Decision, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7411" NEWID="17966">
<DATE> 2-JUN-1987 08:49:31.54</DATE>
<TOPICS><D>reserves</D><D>interest</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0811&#31;reute
u f BC-U.K.-RESERVES-LIFT-HO   06-02 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. RESERVES LIFT HOPES OF FURTHER BASE RATE CUT</TITLE>
<AUTHOR>    By Rowena Whelan, Reuters</AUTHOR>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>The record 4.9 billion dlrs rise in U.K.
Reserves in May to a total 34.7 billion has lifted hopes for a
further cut in bank base lending rates after the June 11
general election, market analysts said.
    Sterling would have risen on the much better than expected
number but for market nerves about the poll outcome, they said.
    But the weight of foreign currency and gold reserves now
available to the authorities to support the pound should curb
any market tendency to panic if U.K. Opinion polls show the
ruling Conservative Party's lead slipping, they added.
    "We have been intervening to a very much greater extent than
we have done hitherto," Chancellor of the Exchequer Nigel Lawson
said at a news conference today, commenting on the news of the
record reserves rise.
    He put the U.K. Intervention in the context of the Louvre
accord between leading industrial nations to stabilise the
dollar, partly through direct intervention on foreign
exchanges. "We have been playing a very full part ourselves," he
said.
    But market analysts see the recent upward pressure on
sterling, and consequent need for official sales to damp down
its rise, more in the light of local factors.
    Steven Bell, chief economist at Morgan Grenfell Securities,
said that corporate money has been flowing back into Britain
amid hopes of another Conservative government, after fears last
autumn of a Labour election victory sent it flooding out.
    U.K. Portfolio investment is also returning, while foreign
buyers see U.K. Growth propects and high bond yields as
attractive. They will be strong buyers of U.K. Assets, notably
equities, once the election is out of the way, Bell said.
    Analysts see this pressure as the main hope for lower
interest rates, as the government is expected to try to reverse
the loss of export competitiveness caused by a strong pound.
    Today, however, the pound hardly moved on the reserves
news, dipping on its trade-weighted index against a basket of
currencies from 73.1 pct of its 1975 value at 1000 GMT to 73.0
pct at 1100 GMT, half an hour after the figures were released.
    "The market doesn't want to do anything because of the
election," commented an economist at a big U.S. Investment bank.
    Several dealers and analysts added that market forecasts of
a rise in reserves of between one and three billion dlrs had
overestimated the amount of pound sales that were likely to
have been disguised by swap arrangements or transactions on the
forward market.
    The market also seemed to have overestimated the amount of
sterling the Bank of England bought at the end of May to smooth
the pound's sudden downturn, while some of the intervention
reported in May probably occurred in April, they said.
    The key three months interbank money market rates eased
about 1/8 point, reflecting cautious hopes that the downtrend
in U.K. Interest rates will be revived following the reserves
news, analysts said.
    Government bond prices initially firmed, but the market was
muted as traders worried about the funding implications of
another huge rise in reserves, they added.
    Morgan Grenfell's Bell forecast a half point base rate cut
from the current nine pct level soon after the election, so
long as poll projections of another Conservative victory prove
accurate, with another half point later.
    Justin Silverton, equity economist at Credit Suisse
Buckmaster and Moore, said a full point reduction might be
possible. "Sterling will be held down by interest rate cuts in
future, rather than this active intervention," he predicted.
    Kevin Boakes of Greenwell Montagu Gilt-Edged cautioned
against over-optimistic forecasts, but agreed a half point cut
looked likely.
    A cut before the election has been virtually ruled out.
    "The Bank (of England) is both worried about the political
problem of cutting rates during an election campaign ... And
has signalled some worry about broad money (growth)," said Robin
Marshall, chief U.K. Economist at Chase Manhattan Securities.
    He said the 10 billion dlrs increase in total reserves in
the past seven months may foreshadow full U.K. Entry into the
European Monetary System.
    But Bell said the authorities would like to see another 10
or 15 billion dlrs in the reserves before joining, if they did
so. But, unlike many analysts, he doubted the U.K. Will go in.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7412" NEWID="17967">
<DATE> 2-JUN-1987 08:54:30.83</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0822&#31;reute
d f BC-SEAL-INC-&lt;SINC.O>-2ND   06-02 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>SEAL INC &lt;SINC.O> 2ND QTR APRIL 30 NET</TITLE>
<DATELINE>    NAUGATUCK, Conn., June 2 -
    </DATELINE><BODY>Shr profit 29 cts vs loss six cts
    Net profit 645,000 vs loss 118,000
    Sales 7,802,000 vs 4,330,000
    1st half
    Shr profit 58 cts vs profit 10 cts
    Net profit 1,255,000 vs profit 212,000
    Sales 14.5 mln vs 8,912,000
    Avg shrs 2,183,150 vs 2,072,779
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7413" NEWID="17968">
<DATE> 2-JUN-1987 08:54:46.11</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f0823&#31;reute
u f BC-ENI-UNIT-AGIP-PETROLI   06-02 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>ENI UNIT AGIP PETROLI BUYS STAKE IN U.S. COMPANY</TITLE>
<DATELINE>    Rome, June 2 - </DATELINE><BODY>A subsidiary of state energy concern Ente
Nazionali Idrocarburi &lt;ENTN.MI> (ENI) said it has acquired a 50
pct stake in &lt;Steuart Petroleum Co>, an independent U.S. Oil
products company. Financial terms were not disclosed.
    Agip Petroli Spa said in a statement that the remaining 50
pct of the U.S. Firm is owned by &lt;Steuart Investment Co>, a
holding company which also has interests transportation, hotels
and insurance.
    The Italian firm said Steuart Petroleum operates primarily
on the East Coast of the U.S.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7414" NEWID="17969">
<DATE> 2-JUN-1987 08:56:30.62</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0826&#31;reute
r f BC-RAINIER-REALTY-&lt;RRETS   06-02 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>RAINIER REALTY &lt;RRETS.O> NOTE INTEREST RAISED</TITLE>
<DATELINE>    SEATTLE, June 2 - </DATELINE><BODY>Rainier Realty Investors said Rainier
Bancorp &lt;RBANK.O> has agreed to increase the interest rate on
the notes the bank would offer in connection with the trust's
proposed liquidation to 8-1/4 pct from eight pct.
    The trust said it had asked for the increase to partly
compensate for a recent rise in interest rates.  It said
shareholders will continue to have the option of taking 9.14
dlrs in cash for each of their shares, rather than seven-year
Rainier notes with a principal value of 10 dlrs.  Shareholders
weill vote on the proposal at a special meeting to be held July
15.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7415" NEWID="17970">
<DATE> 2-JUN-1987 08:57:06.20</DATE>
<TOPICS><D>cpi</D><D>gnp</D></TOPICS>
<PLACES><D>south-africa</D></PLACES>
<PEOPLE><D>du-plessis</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0829&#31;reute
u f BC-S.AFRICA-EXPECTED-TO   06-02 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>S.AFRICA EXPECTED TO UNVEIL EXPANSIONARY BUDGET</TITLE>
<AUTHOR>    By Christopher Wilson, Reuters</AUTHOR>
<DATELINE>    CAPE TOWN, June 2 - </DATELINE><BODY>South Africa is expected to unveil
tomorrow an expansionary budget for the second consecutive year
in a bid to boost the nation's flagging economic growth rate,
economic analysts said.
    Faced with competing demands for increased military and
police spending and the pressing need for more funds for black
housing and education, Finance Minister Barend Du Plessis is
expected to raise significantly the government's overall
expenditure targets when he presents the budget to parliament,
the analysts said.
    Analysts expect Du Plessis to provide for a rise in state
spending at least equal to the 16 pct inflation rate for the
financial year that started on April 1, while ignoring pleas
from the private sector to stimulate growth by cutting taxes.
    "Fiscal policy has become gradually more expansionary, but
simply raising government spending and increasing the budget
deficit is an inflationary form of stimulation," said Rob Lee,
chief economist at South African Mutual Life Assurance Co.
    South Africa this year is targeting inflation-adjusted
growth in GDP of three pct against an increase last year of
less than one pct.
    Growth in GDP over the past decade has averaged about 1.5
pct, while the unemployment rate among blacks has spiralled to
over 30 pct.
    Economists estimate that the government's spending target
will rise to about 47 billion rand, with revenue budgeted at
around 40 billion rand. This would leave a budget deficit
before borrowing of about seven billion rand, or four pct of
GDP.
    The government, having consistently overshot its own
spending targets for more than a decade, also faces a
credibility crisis over expenditure figures outlined in the
budget, analysts said.
    "The budget is invariably too optimistic on expenditure,"
said Standard Bank Ltd in a budget preview.
    Many analysts in the private sector are now paying less
attention to the figures presented in the budget and are using
their own estimates of expenditure to draw conclusions for the
money and capital markets.
    South African Mutual's Lee believes government spending
will again exceed the budget target and increase to around 49
billion rand this year, leaving a deficit of between 5 and 5.5
pct of GDP, compared with a three pct limit suggested by the
IMF.
    "The IMF limit is obviously going to be abandoned," predicted
one analyst, noting that South Africa has moved steadily away
from austerity measures recommended by the IMF over the past
two years.
    The policy shift followed a dramatic deterioration in the
political situation and the onset of an economic crisis
triggered by the refusal of major foreign banks to roll over
loans to the country in September 1985.
    Against a background of Western economic sanctions, falling
per capita incomes, rising joblessness and high inflation,
government officials say economic growth is the prime
objective.
    But private-sector economists caution that the government's
ability to promote growth by boosting state spending is
constrained by the need to maintain a large surplus on the
current account of the country's balance of payments.
    Most of that surplus, this year estimated at around 2.5
billion dlrs, will be swallowed up by repayments on the
nation's estimated 23 billion dlr foreign debt in terms of an
arrangement reached earlier this year with major international
creditor banks.
    Within these constraints, economists believe Du Plessis has
little room to manoeuvre.
    Analysts argue recent rises in civil service salaries and
budgeted spending increases for the state-owned Post Office and
South African Transport Services suggest that major tax
concessions to individuals or corporations are unlikely.
    Du Plessis earlier this year announced small concessions
for taxpayers in a mini-budget before the May 6 whites-only
election. The poll delayed presentation of the national budget.
    "This will not be a very exciting budget," commented Harry
Schwarz, spokesman on finance for the liberal Progressive
Federal Party. "I do not expect any major tax cuts as all the
sweets were given out before the election."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7416" NEWID="17971">
<DATE> 2-JUN-1987 08:57:14.44</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0830&#31;reute
r f BC-ALASKA-AIR-&lt;ALK>-LOAD   06-02 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>ALASKA AIR &lt;ALK> LOAD FACTOR UP IN MAY</TITLE>
<DATELINE>    SEATTLE, June 2 - </DATELINE><BODY>Alaska Air Group Inc's Alaska Airlines
subsidiary said its load factor was 58.6 pct last month, up
from 58 pct in May 1986.
    It said revenue passenger miles incrased eight pct to 234.9
mln from 217.9 mln in the year ago month and available seat
miles were up ;seven pct to 400.7 mln from 375.8 mln.
    For the first five months of 1987, Alaska Airlines said,
its passenger load factor was 54.5 pct, up from 53.4 pct a year
earlier. Revenue passenger miles increased five pct to 1.05
billion and available seat miles were up three pct to 1.92
billion.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7417" NEWID="17972">
<DATE> 2-JUN-1987 08:58:48.44</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0835&#31;reute
d f BC-DEL-E.-WEBB-INVESTMEN   06-02 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>DEL E. WEBB INVESTMENT PROPERTIES INC &lt;DWPA.O></TITLE>
<DATELINE>    PHOENIX, June 2 - </DATELINE><BODY>1st qtr
    Shr seven cts vs nine cts
    Net 166,000 vs 201,000
    Revs 801,000 vs 687,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7418" NEWID="17973">
<DATE> 2-JUN-1987 09:02:10.26</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0841&#31;reute
d f BC-BASIX-CORP-&lt;BAS>-TO-S   06-02 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>BASIX CORP &lt;BAS> TO SELL UNIT TO CUBIC &lt;CUB></TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>BASIX Corp said it has agreed in
principle to sell the stock of its Automatic Toll Systems Inc
subsidiary to Cubic Corp for about 26 mln dlrs.
    The company said it would retain Automatic Toll assets
worth about nine mln dlrs to dispose of over time.
    The company said completion of the transaction is subject
to approval by both boards and BASIX's banks and the expiration
of the Hart-Scott-Rodino waiting period.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7419" NEWID="17974">
<DATE> 2-JUN-1987 09:03:01.28</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0844&#31;reute
d f BC-AAR-&lt;AIR>-ELEASING-UN   06-02 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>AAR &lt;AIR> ELEASING UNIT SELLS FIVE AIRCRAFT</TITLE>
<DATELINE>    ELK GROVE VILLAGE, ILL., June 2 - </DATELINE><BODY>AAR Corp said its AAR
Financial Services Corp nonconsolidated leasing subsidiary sold
its beneficial interest in five used Boeing 737-200 aircraft.
    In March, 1985 the aircraft were acquired from and leased
back to Piedmont Aviation Inc &lt;PIE>.
    AAR said the beneficial interest was sold to CIS Corp of
San Francisco.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7420" NEWID="17975">
<DATE> 2-JUN-1987 09:03:56.29</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0848&#31;reute
d f BC-ONCOR-INC-&lt;ONCR.O>-1S   06-02 0027</UNKNOWN>
<TEXT>&#2;
<TITLE>ONCOR INC &lt;ONCR.O> 1ST QTR LOSS</TITLE>
<DATELINE>    GAITHERSBURG, Md., June 2 -
    </DATELINE><BODY>Shr loss 12 cts vs loss five cts
    Net loss 347,849 vs loss 103,489
    Sales 222,697 vs 150,534
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7421" NEWID="17976">
<DATE> 2-JUN-1987 09:07:59.49</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>conable</D></PEOPLE>
<ORGS><D>imf</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f0853&#31;reute
r f BC-NEW-PROBLEMS-FOR-WORL   06-02 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW PROBLEMS FOR WORLD BANK IN DEBT STRATEGY</TITLE>
<AUTHOR>    By Alver Carlson, Reuters</AUTHOR>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>The World Bank, in the throes of a
painful reorganization, faces new strains because of actions by
Citibank and others to set aside new Latin debt reserves,
financial analysts and monetary sources said.
    The monetary sources said the reorganization has caused
some bad feelings and charges that promotions and other
personnel actions have been based on personality rather than
ability. It also had some effect in undermining the Bank's role
in the global debt strategy, the sources said.
    At the center of the controversy is Bank President Barber
Conable, whose reorganization efforts are getting some 
critical review from many Bank staff members and some member-
countries including the United States.
    "I think if he were to do it again, he would do it very
differently," said one source.
    Conable, a former congressman from New York appointed by
President Reagan to the senior most position at the Bank nearly
a year ago, has taken the view that the Bank badly needed to be
reorganized and perhaps made more streamlined.
    In this he had the backing of many in the Reagan
administration who viewed the Bank as a bloated and inefficient
bureaucracy that gave money to countries when other free-market
sources of assistance were available.
    However, the Bank had been singled out for a much greater
role under the U.S. debt initiative proposed by Treasury
Secretary James Baker.  That strategy, which called for some 20
billion dlrs in new funding from the commerical banks and nine
billion dlrs in spending from the development banks, mostly the
World Bank, came under profound doubt with the decision by
Citibank and Chase Manhattan to set aside new reserves.
    This move, heralded by some sources as a measure that gives
all parties more time, frightened others, who see it as the
beginning of a tit for tat exercise that could lead to complete
unraveling of the monetary system.
    As envisioned by the latter, the next move would be for
Brazil, which has delayed payments on its debts, to say it does
not intend to pay interest for a very long period of time.
    Citibank and other banks could then decide to stop
financing the country's export credits, the funds countries use
to support their daily activities, leading to an economic
breakdown.
    "Within six weeks alot of countries could be out of
business," said one source.
    Citibank's initial step last month was to set some three
billion dlrs in a general reserve for potential losses on loans
to developing countries.  It was followed by a similar move by
Chase Manhattan some days later.
    In the best of all worlds, the kind of cooperation that was
demonstrated between the International Monetary Fund (IMF), the
multilateral development banks, the wealthy countries and
commercial banks when the debt crisis surfaced in 1982, could
emerge again but no one is expecting that.
    If anything, the negotiations have become much more
confrontational with the debtor countries pressing for more
concessions, arguing that they face growing political
instability if they are asked to do or pay more.
    They are very critical of the IMF's austerity measures and
there is sympathy for their view among the development
community.
    "When you hear code words like structural adjustment and
tightening your belt.  What that means is that the poor peasent
making 700 dlrs a year should drop it to 500 dlrs," says one
source.
    He adds: "And when your hear they should have market forces
at play, that means the level of public services should drop."
    It had been hoped that giving the World Bank a greater role
in the debt strategy might defuse the growing resistance in the
debtor countries to measures that increased already prevalent
poverty even further.
   The Bank, which primarily assists countries in the building
of roads, sewerage systems, education, and other so-called
infrastructure, is viewed in the Third World as benefactor.
   The IMF, however, which essentially forged the debt stategy
following the disclosure by Mexico in 1982 that it was near
default, is considered a stern taskmaster that has little
sympathy or even understanding of poverty.
    But there are doubts about how well the Baker initiative
has worked and about the World Bank's success at bringing about
increased growth in the Third World under the U.S. prescription
which indicated that countries might grow their way out of
their difficulty.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7422" NEWID="17977">
<DATE> 2-JUN-1987 09:08:47.97</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0854&#31;reute
u f BC-GM-UNIT-&lt;GMH>-NEGOTIA   06-02 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>GM UNIT &lt;GMH> NEGOTIATING FOR BRITISH CONTRACT</TITLE>
<DATELINE>    EL SEGUNDO, Calif., June 2 - </DATELINE><BODY>General Motors Corp's Hughes
Aircraft Co subsidiary said it has been chosen by British
Satellite Broadcasting to negotiate for a contract worth about
300 mln dlrs to deliver two satellites for direct broadcast
television.
    The company said the first of the satellites is scheduled
to start up three channels of direct broadcast satellite
television by late 1989.
    The company said the contract should be signed by June 30. 
Each satellite would be equipped with three 110-watt channels.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7423" NEWID="17978">
<DATE> 2-JUN-1987 09:11:19.19</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0863&#31;reute
u f BC-RESDEL-&lt;RSDL.O>,-SAN/   06-02 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>RESDEL &lt;RSDL.O>, SAN/BAR &lt;SBAR.O> IN MERGER DEAL</TITLE>
<DATELINE>    NEWPORT BEACH, Calif., June 2 - </DATELINE><BODY>Resdel Industries Inc said
it has agreed to acquire San/Bar Corp in a share-for-share
exchange, after San/Bar distributes all shgares of its
Break-Free Corp subsidiary to San/Bar shareholders on a
share-for-share basis.
    The company said also before the merger, San/Bar would
Barry K. Hallamore and Lloyd G. Hallamore, San/Bar's director
of corporate development, 1,312,500 dlrs and 1,087,500 dlrs
respectviely under agreements entered into in October 1983.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7424" NEWID="17979">
<DATE> 2-JUN-1987 09:11:36.38</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>sri-lanka</D><D>india</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0864&#31;reute
u f AM-SRILANKA ***  06-02 0180</UNKNOWN>
<TEXT>&#2;
<TITLE>COLOMBO TO DEFEND WATERS, INDIA READIES FLOTILLA</TITLE>
<DATELINE>    COLOMBO, June 2 - </DATELINE><BODY>Sri Lanka today ordered its armed forces
to defend the island's territorial waters as India prepared to
send a flotilla with relief supplies that Colombo says it does
not want for the Tamils in the Jaffna peninsula.
    The sudden crisis between Sri Lanka and its giant neighbour
deepened as Prime Minister Ranasinghe Premadasa told
parliament: "We have our territorial limits and nobody can be
allowed to trespass there ...
    "President (Junius) Jayewardene has ordered the army, navy
and air force to protect the island and its territorial waters,"
Premadasa said to a round of applause from the house.
    In New Delhi an Indian spokesman said the plan to send a
flotilla of 20 small unarmed boats with Red Cross supplies to
Jaffna tomorrow would go ahead despite Colombo's objections.
    The confrontation was the latest result of the long and
bitter conflict between Sri Lanka's Buddhist Sinhalese majority
and the Hindu Tamil minority, which has strong ethnic and
cultural links with India's 50 mln Tamils.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7425" NEWID="17980">
<DATE> 2-JUN-1987 09:14:36.57</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>uk</D><D>west-germany</D><D>japan</D><D>usa</D></PLACES>
<PEOPLE><D>lawson</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f0877&#31;reute
u f BC-LAWSON-SAYS-LOUVRE-CU   06-02 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>LAWSON SAYS LOUVRE CURRENCY ACCORD SATISFACTORY</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>The Louvre agreement by the Group of Seven
finance ministers and central bankers to stabilise currencies
has worked well and needs no fundamental strengthening at the
economic summit in Venice on June 8-10, U.K. Chancellor of the
Exchequer Nigel Lawson said.
    Previewing the summit, which he expected would not produce
any major new economic initiatives, Lawson told reporters work
remained to be done on improving the conditions for lasting
world economic growth.ü&#5;&#30;side measures to boost growth, he said.

    "I think it is possible that there may be scope for a
further reduction in interest rates in Germany," he added, but
stressed that he had had no indication that such a move was
likely. He made no mention of Japanese interest rates.
    Lawson said the U.S. Should embark on "a gradual reduction
of its fiscal deficits over the next two or three years."
    He said the February 22 Louvre accord had produced
"satisfactory exchange rate stability," in part thanks to heavy
coordinated intervention of Group of Seven central banks, and
he was "content" with sterling's exchange rate.
    Pointing to the record 4.8 billion stg rise in U.K. May
currency reserves announced today he said, "we have been playing
a very full part ourselves ... We have been intervening to a
very much greater extent than we had done hitherto."
    Lawson said there was a risk that the Louvre agreement may
falter if member states did not implement the macro-economic
commitments underlying the accord.
    "Certainly it would be more difficult to maintain exchange
rate stability if countries are seen not to implement their
commitments in Paris ... In this respect." He said the U.S.
Budget deficit was "very important."
    Noting the 6,000 billion yen economic package announced by
Japanese Prime Minister Yasuhiro Nakasone last week Lawson
said, "what is really needed in Japan is an increase in
merchandise imports. Supply side measures are critical."
    "There is a specific range of consumer and agricultural
goods where they have an extremely restrictive regime which is
wholly unjustified," he said.
    Lawson doubted that Tokyo's partners would indulge in "Japan
bashing" at the summit especially after the economic stimulation
package and the announcement of Nakasone's plans to increase
Japanese development aid over the next three years.
    Japan's more flexible stance on Tokyo stock exchange
membership would also help deflect criticism, he said.
    He said he thought West Germany would instead come under
pressure at the summit to adopt similar stimulation measures to
jack up faltering economic growth.
    In this respect Lawson said he hoped Bonn would bring
forward to January 1988 part of its agreed package of tax cuts
scheduled for 1990. He also called on Bonn to push ahead with
the privatisation of German national industries.
    On debt, Lawson said he expected a three point British plan
to alleviate the burden of the poorest sub-saharan countries to
make progress in Venice.
    The plan, involving concessional rescheduling of sovereign
debt in the Paris Club, was first proposed at the IMF and World
Bank meetings in Washington earlier this year.
    Lawson said he would seek "to consolidate political backing
for the plan at the Venice summit" and hoped the programme would
be finalised at the Autumn meetings of the IMF and World Bank.
    He welcomed the recent moves by Citicorp and Chase
Manhattan to increase sharply their Third World debt
provisions.
    "First, it is a blow for realism. Second, because the market
response has shown that banks have much less to fear from this
sort of move than they felt before Citicorp," he said.
    U.K. Banks should follow Bank of England recommendations,
strengthening their balance sheets and making more provisions.
"They have done it to some extent, they need to do it more,"
Lawson said, adding it was up to the banks themselves to
determine the appropriate size of provisions.
    He also said the dismantling of farm subsidies would be
discussed at the summit. "There is a consensus, which we have to
push further."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7426" NEWID="17981">
<DATE> 2-JUN-1987 09:18:40.87</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0888&#31;reute
w f BC-CENTEL-&lt;CNT>-COMPLETE   06-02 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>CENTEL &lt;CNT> COMPLETES SALE</TITLE>
<DATELINE>    CHICAGO, June 2 - </DATELINE><BODY>Centel Corp said it completed the sale of
its water properties serving 8,000 customers in four
southwestern Kansas communities to Central Kansas Utility Co of
Columbia, Mo.
    Terms were not disclosed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7427" NEWID="17982">
<DATE> 2-JUN-1987 09:18:49.94</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0889&#31;reute
b f BC-UNILEVER-CAPITAL-CORP   06-02 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>UNILEVER CAPITAL CORP ISSUES NZ DLR EUROBOND</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>Unilever Capital Corp NV is issuing a 65
mln New Zealand dlr eurobond due July 7, 1989 with an 18-1/4
pct coupon and priced at 101-1/4, bookrunner Hambros Bank Ltd
said.
    Joint lead managers are EBC Amro Bank Ltd and Hambros.  The
bonds, guaranteed by Unilever Plc, will be issued in
denominations of 1,000 and 5,000 dlrs and listed in Luxembourg.
    Fees comprise 1/2 pct for management and underwriting
combined and 7/8 pct for selling.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7428" NEWID="17983">
<DATE> 2-JUN-1987 09:19:36.99</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F Y
&#22;&#22;&#1;f0890&#31;reute
u f BC-AMOCO-&lt;AN>-CANADA-OFF   06-02 0122</UNKNOWN>
<TEXT>&#2;
<TITLE>AMOCO &lt;AN> CANADA OFFER TO TOP ONE BILLION DLRS</TITLE>
<DATELINE>     Toronto, June 2 - </DATELINE><BODY>The public stock offering Amoco Canada
plans if it succeeds in its 5.2 billion-dlr takeover of Dome
Petroleum Ltd &lt;DMP> will be worth more than one billion
Canadian dlrs, a published report said.
    Public stockholders would own at least 15 pct of Amoco
Canada, although Amoco plans to raise the level of Canadian
participation higher than that, Amoco Canada president Donald
Stacy said in an interview in the Toronto Star.
    Stacy would not say how much higher, adding that that
question will be the subject of discussions between Amoco and
Investment Canada, the federal agency which reviews foreign
takeovers of Canadian companies, the newspaper said.
   
    Amoco Canada plans to make its submission to the agency
next Thursday.
    Stacy said the issue would be sold in stages and that the
first stage would be worth 200 mln to 300 mln Canadian dlrs,
the Star said. The initial offering would not take place until
at least one year after Amoco acquired Dome, to allow the two
operations to merge.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7429" NEWID="17984">
<DATE> 2-JUN-1987 09:24:57.36</DATE>
<TOPICS><D>cocoa</D><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0901&#31;reute
d f BC-W.R.-GRACE-&lt;GRA>,-BER   06-02 0055</UNKNOWN>
<TEXT>&#2;
<TITLE>W.R. GRACE &lt;GRA>, BERISFORD PLAN COCOA VENTURE</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>W.R. Grace and Co said it has agreed to
combine its cocoa processing businesses with those of S. and W.
Berisford PLC.
    It said the joint venture, to be 68.4 pct owned by Grace
and 31.6 pct by Berisford, would have annual sales in 1987 of
over 700 mln dlrs.
    Grace said the transaction involves the combination of its
cocoa products division and two Berisford cocoa processing
units, which would be operated under Grace management.
    The company said Berisford would contribute its Dutch and
West German cocoa subsidiaries and issue new ordinary shares to
Grace in connection with the transaction.  It said closing is
expected by early fall, subject to regulatory approvals.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7430" NEWID="17985">
<DATE> 2-JUN-1987 09:33:33.49</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>nyse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0930&#31;reute
b f BC-NYSE-TO-DELIST-WEDTEC   06-02 0008</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
*****<TITLE>NYSE TO DELIST WEDTECH CORP sTOCK, DEBENTURES
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7431" NEWID="17986">
<DATE> 2-JUN-1987 09:41:32.00</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0947&#31;reute
d f BC-CSR-SAYS-IT-IS-PROCEE   06-02 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>CSR SAYS IT IS PROCEEDING WITH OFFER FOR MONIER</TITLE>
<AUTHOR>    By David Skinner, Reuters</AUTHOR>
<DATELINE>    SYDNEY, June 2 - </DATELINE><BODY>CSR Ltd &lt;CSRA.S> intends to proceed with
its planned bid for building materials group Monier Ltd
&lt;MNRA.S> despite the counter-bid from &lt;Equiticorp Tasman Ltd>
(ETL), CSR executive director Gene Herbert told Reuters.
    ETL said today it would offer 4.15 dlrs each for Monier's
issued capital of 156.28 mln shares, plus a share alternative.
This compares with a 3.80 dlr cash element in CSR's proposed
bid.
    The proposed offer by ETL, controlled by New Zealand
entrepreneur Allan Hawkins, came after it built up a 14.99 pct
stake in Monier in a 95 mln dlr share raid in recent days.

    Herbert said Britain's Redland Plc &lt;RDLD.L>, which holds
just under 50 pct of Monier, still supported the CSR bid and
had told CSR it is not a seller.
    He said Redland wanted to maintain and build on its
operations in Australia and the U.S., Where Monier has built up
a strong presence, notably in roofing tile manufacture.
    The CSR offer contains a put and call option agreement with
Redland. This enables Redland to accept the CSR bid within six
months of its close or to lift its stake to 50.1 pct in the
same period and to run Monier as a joint venture with CSR.
    CSR has said that Redland will take up the second option.

    ETL has declined to say why it intervened in Monier, beyond
describing it as a long term investment.
    ETL would bring no synergies to Monier, unlike CSR which is
a leader in building materials, Herbert said.
    "We fit better with Monier," he said.
    CSR has said that it will concentrate development on its
core businesses of sugar and building materials after its moves
into energy several years ago.
    Asked what he thought ETL's bid sought to achieve, Herbert
said: "I'm puzzled as to what Hawkins' strategy is. One has to
wonder if Monier is the main target."

    Herbert said CSR had no plans to raise its bid, and said a
higher price would be difficult to justify on fundamentals.
    Monier was trading at 2.80 dlrs when CSR launched its
original bid of 3.50, or 16.8 times earnings, in late April.
    The shares closed at 3.90 dlrs today, down 25 cents on
yesterday, after ETL withdrew on reaching the top foreign
shareholding level permitted without Foreign Investment Review
Board (FIRB) approval. Its bid is subject to FIRB approval.
    Herbert also said that institutions, which are more likely
to accept a share alternative than cash, would have to judge
the respective values of ETL and CSR shares.

    ETL is the third group to become involved in a possible
acquisition of Monier this year. Redland held discussions on a
possible takeover before the CSR bid emerged but the
negotiations foundered on the price.
    Share analysts said that for this reason, they did not
think ETL's intervention would flush out a full Redland bid
although Monier's ultimate fate rests in its hands.
    "Redland is still in the driving seat," said Tim Cohen of
&lt;Ord Minnett Ltd>, adding that Redland would be happier having
CSR as a partner in running Monier than ETL.
    Monier's independent directors have recommended ETL's bid.

 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7432" NEWID="17987">
<DATE> 2-JUN-1987 09:41:46.74</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0948&#31;reute
u f BC-WESTPORT-BANCORP-&lt;WBA   06-02 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>WESTPORT BANCORP &lt;WBAT.O> 100 PCT STOCK DIVIDEND</TITLE>
<DATELINE>    WESTPORT, Conn., June 2 - </DATELINE><BODY>Westport Bancorp Inc said it
declared a 100 pct stock dividend and increased the quarterly
cash dividend.
    The company said the the stock dividend, to effect a
two-for-one stock split, is payable July six to holders of
record June 12.
    It said the dividend on present shares was increased to 26
cts, from 25 cts in the prior quarter, payable July one to
holders of record June 12.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7433" NEWID="17988">
<DATE> 2-JUN-1987 09:42:15.49</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0950&#31;reute
r f BC-COMP-U-CARD-INTERNATI   06-02 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>COMP-U-CARD INTERNATIONAL INC &lt;CUCD.O> 1ST QTR</TITLE>
<DATELINE>    STAMFORD, Conn., June 2 - </DATELINE><BODY>Periods ended April 30
    Shr 18 cts vs 15 cts
    Net 3,309,000 vs 2,539,000
    Revs 45.2 mln vs 26.8 mln
    Avg shrs 18.7 mln vs 16.8 mln
    NOTE: 1986 net includes gain of 1,197,000 dlrs, or seven
cts a share, from tax loss carryforwards
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7434" NEWID="17989">
<DATE> 2-JUN-1987 09:42:57.55</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0953&#31;reute
r f BC-COMP-U-CARD-&lt;CUCD.O>   06-02 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>COMP-U-CARD &lt;CUCD.O> PLANS NAME CHANGE</TITLE>
<DATELINE>    STAMFORD, Conn., June 2 - </DATELINE><BODY>Comp-U-Card International Inc
said it intends to change its name to CUC International Inc.
    It said shareholders will be asked to approve the new name
at the annual meeting on June 16
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7435" NEWID="17990">
<DATE> 2-JUN-1987 09:43:04.63</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C L
&#22;&#22;&#1;f0954&#31;reute
u f BC-slaughter-guesstimate   06-02 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>HOG AND CATTLE SLAUGHTER GUESSTIMATES</TITLE>
<DATELINE>    CHICAGO, June 2 - </DATELINE><BODY>Chicago Mercantile Exchange floor traders
and commission house representatives are guesstimating today's
hog slaughter at about 265,000 to 275,000 head versus 286,000
week ago and 278,000 a year ago.
    Cattle slaughter is guesstimated at about 128,000 to
132,000 head versus 132,000 week ago and 137,000 a year ago.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7436" NEWID="17991">
<DATE> 2-JUN-1987 09:43:12.90</DATE>
<TOPICS></TOPICS>
<PLACES><D>ivory-coast</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>adb-africa</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0955&#31;reute
r f BC-AFRICAN-BANK-OFFICIAL   06-02 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>AFRICAN BANK OFFICIAL CONFIDENT ON LOAN REPAYMENTS</TITLE>
<AUTHOR>    By Brian Killen, Reuters</AUTHOR>
<DATELINE>    ABIDJAN, June 2 - </DATELINE><BODY>The Secretary-General of the African
Development Bank expressed confidence in the institution's
ability to handle potential problems with repayment of
development financing loans.
    Koffi Dei-Anang told a news conference at the bank's
headquarters that loan arrears were only 80 mln dlrs at
present, a small percentage of total ADB lending which exceeded
one billion dlrs in 1986.
    Some commercial banks have recently taken extraordinary
measures to deal with third world lending strategies.
    "We do have difficulty with repayment of loans on time,"
Dei-Anang said. But he denied than any ADB loan arrears were
more than 12 months behind schedule.
    "We have never had a default. We have never written off a
loan," he added.
    Dei-Anang said the Abidjan-based ADB will hold its annual
general meeting in Cairo from June 9 to June 11 and over 1,000
delegates were expected to attend.
    The agenda will include the approval of the bank's annual
report and accounts, but there will be no debate on the capital
increase which is currently being voted on by the ADB
governors.
    An ADB spokeswoman said the U.S. Had voted for a 200 pct
increase in the bank's capital, but other votes were still
coming in.
    In December, an ad-hoc committee of the ADB's board of
governors, comprising 18 African and non-African countries,
agreed that a 200 pct increase was necessary to finance a rise
in lending between 1987 and 1991.
    If the recommendations are approved by the board, the
capital of the bank would rise from around 6.55 billion dlrs to
19.66 billion dlrs.
    Dei-Anang said the capital increase would help the bank
improve its borrowing capacity. "The capital increase is in
effect a passport to the capital market," he said.
    "It will enable us to borrow something like 4.5 billion dlrs
in the next five years," he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7437" NEWID="17992">
<DATE> 2-JUN-1987 09:48:08.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>nyse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0968&#31;reute
u f BC-NYSE-TO-SUSPEND-AND-D   06-02 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>NYSE TO SUSPEND AND DELIST WEDTECH &lt;WDT> ISSUES</TITLE>
<DATELINE>    NEW YORK, June 2 - </DATELINE><BODY>The New York Stock Exchange said it
would suspend trading in Wedtech Corp's common stock, 13 pct
convertible subordinated debentures due on June 15, 2004 and 14
pct senior subordinated notes, due August 15, 1996 before
the opening of trading on June 16.
    Following suspension, the exchange said an application will
be made to the Securities and Exchange Commission to delist the
issues.
   
    The exchange said the action was taken in view of Wedtech's
unsatisfactory financial condition which it said the company
disclosed on April 23 and because it believed Wedtech was
unable to transfer its listing to another securities
martketplace.
    The exchange said it may at any time suspend a security if
it believes that continued dealings in the security on the
exchange are not advisable.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7438" NEWID="17993">
<DATE> 2-JUN-1987 09:49:45.95</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0975&#31;reute
d f BC-MONTROSE-HOLDING-TO-A   06-02 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>MONTROSE HOLDING TO ACQUIRE VIRGINIA FEDERAL</TITLE>
<DATELINE>    RICHMOND, Va., June 2 - </DATELINE><BODY>&lt;Virginia Federal Savings and Loan
Association> said it has signed a definitive agreement to be
acquired by &lt;Montrose Holding Co>, an affiliate of &lt;Montrose
Capital Corp> for 20 mln dlrs.
    Virginia Federal and Montrose Capital said the agreement
provides for the conversion of Virginia Federal from a mutual
to a stock association and the purchase of 100 pct of its stock
for 20 mln dlrs by Montrose.
    According to the companies, Virginia Federal has over 700
mln dlrs in assets and operates 16 branches in Virginia.
    Virginia Federal said the proceeds would enable it to
provide increased mortgage and lending services and enable the
company to compete more effectively in the Virginia market.
    The companies said the agreement is subject to Federal Home
Loan Bank Board approval, expected later this year.
    Additionally, the companies said the converted association
would be managed by a board of directors consisting of the six
current Virginia Federal directors and two representatives of
Montrose Holding.
    The senior management of Virginia Federal was expected to
continue in office after the conversion, the companies said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7439" NEWID="17994">
<DATE> 2-JUN-1987 09:52:26.10</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0983&#31;reute
r f BC-FINAL-TERMS-SET-ON-TO   06-02 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>FINAL TERMS SET ON TOKYO ROPE EQUITY WARRANT BOND</TITLE>
<DATELINE>    LONDON, June 2 - </DATELINE><BODY>The coupon on the 50 mln dlr, five year,
equity warrant eurobond for Tokyo Rope Manufacturing Co Ltd has
been set at two pct compared with an indicated level of 2-1/8
pct, lead manager Nikko Securities Co (Europe) Ltd said.
    The exercise price was set at 508 yen per share,
representing a premium of 2.63 pct over today's closing price
of 495 yen.
    The foreign exchange rate was set at 146.20 yen to the
dollar.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7440" NEWID="17995">
<DATE> 2-JUN-1987 09:55:35.92</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f0991&#31;reute
d f BC-BELL-CANADA-PLANS-LON   06-02 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>BELL CANADA PLANS LONG DISTANCE TOLL CUT</TITLE>
<DATELINE>    OTTAWA, June 2 - </DATELINE><BODY>Bell Canada, a unit of Bell Canada
Enterprises Inc &lt;BCE>, said it applied for an average eight pct
cut in Canadian long distance rates.
    The application to the Canadian Radio-television and
Telecommunications Commission would also reduce the initial
period for operated-assisted calls from three minutes to one
minute and operator- and customer-dialed calls would be charged
the same.
    The billing of operator-assisted calls would include a
conection charge, however. The new rate structure is similar to
schedules announced by Bell January 1 for calls within Ontario,
Quebec and parts of the Northwest Territories, it said.        
    
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7441" NEWID="17996">
<DATE> 2-JUN-1987 09:59:36.24</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f1006&#31;reute
f f BC-******U.S.-APRIL-FACT   06-02 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. APRIL FACTORY ORDERS ROSE 0.2 PCT, EXCLUDING DEFENSE ORDERS FELL 0.2 PCT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7442" NEWID="17997">
<DATE> 2-JUN-1987 10:00:38.82</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1009&#31;reute
f f BC-******/U.S.-NON-FARM   06-02 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>/U.S. NON-FARM PRODUCTIVITY ROSE REVISED 0.5 PCT IN 1ST QTR INSTEAD OF 1.7 PCT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7443" NEWID="17998">
<DATE> 2-JUN-1987 10:00:41.69</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1010&#31;reute
f f BC-******/U.S.-SALES-OF   06-02 0016</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>/U.S. SALES OF SINGLE-FAMILY HOMES ROSE 7.6 PCT IN APRIL AFTER REVISED 2.7 PCT MARCH DROP
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7444" NEWID="17999">
<DATE> 2-JUN-1987 10:02:46.06</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f1021&#31;reute
b f BC-/U.S.-NON-FARM-PRODUC   06-02 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. NON-FARM PRODUCTIVITY ROSE 0.5 PCT IN QTR</TITLE>
<DATELINE>    WASHINGTON, June 2 - </DATELINE><BODY>Productivity in the non-farm business
sector increased at a revised seasonally adjusted annual rate
of 0.5 pct in the January-March first quarter, the Labor
Department said.
    The department previously reported a 1.7 pct increase in
the quarter and said productivity fell 1.5 pct in the fourth
quarter of 1986.
    The department said output rose 4.3 pct and hours of
employees and all others gained 3.8 pct in the first quarter.
Hourly compensation was unchanged from the fourth quarter.
    Hourly compensation after adjusting for inflation fell 5.0
pct in the nonfarm sector in the first quarter, the largest
decline since 1951, the Labor Department said.
    Unit labor costs dropped 0.5 pct for the first quarterly
decline in a year. Costs rose 4.2 pct in the fourth quarter of
1986.
    The implicit price deflator for nonfarm businesses rose 4.2
pct, the largest increase since 1982, after declining 0.3 pct
in the fourth quarter.
    Business productivity including farms rose 0.6 pct in the
first quarter after a 2.0 pct drop in the fourth quarter.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TEST" CGISPLIT="TRAINING-SET" OLDID="7445" NEWID="18000">
<DATE> 2-JUN-1987 10:04:00.32</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D><D>usa</D><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f1026&#31;reute
u f BC-EUROMISSILE-TREATY-DR   06-02 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. AND SOVIETS DRAFT EUROMISSILE TREATY</TITLE>
<DATELINE>    GENEVA, June 2 - </DATELINE><BODY>U.S. And Soviet negotiators have completed
the text of a draft treaty calling for the elimination of
medium-range missiles in Europe, a Soviet negotiator said.
    "We must say that as a result of the work done at the
current round the sides have drafted the first joint draft text
of the treaty on medium-range missiles," Alexei Obukhov, deputy
leader of the Soviet negotiating team, told reporters.
    He said there was still much work to be done and several
areas of disagreement remained to be resolved.         
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
