<!DOCTYPE lewis SYSTEM "lewis.dtd">
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8914" NEWID="4001">
<DATE>11-MAR-1987 18:04:17.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f0849&#31;reute
d f BC-INCO-SEES-NO-MAJOR-IM   03-11 0133</UNKNOWN>
<TEXT>&#2;
<TITLE>INCO SEES NO MAJOR IMPACT FROM DOW REMOVAL</TITLE>
<DATELINE>    TORONTO, March 11 - </DATELINE><BODY>Inco Ltd said it did not expect its
earlier reported removal from the Dow Jones industrial index to
make a major impact on the company's stock.
    "We don't think that individuals or institutions buy our
shares because we were one of the Dow Jones industrials,"
spokesman Ken Cherney said in reply to a query.
    Inco closed 1-3/8 lower at 19-3/8 in second most active
trading on the Toronto Stock Exchange.
    The Wall Street Journal, which selects the index, said Inco
was dropped to make the index more representative of the
market. Inco, the non-Communist world's largest nickel
producer, was a member of the index since 1928.
    Replacing Inco and Owens-Illinois Inc will be Coca-Cola Co
and Boeing Co, effective tomorrow.
    Nickel analyst Ilmar Martens at Walwyn Stodgell Cochran
Murray Ltd said Inco's removal from the index would likely
spark short-term selling pressure on the stock.
    "Some investors who have Inco may suddenly say, 'well,
because it's not now a Dow stock, we should eliminate that
investment,'" said Martens, although he added the move was
unlikely to have a serious long-term impact on Inco stock.
    Inco has struggled in recent years against sharply lower
nickel prices. Its net earnings fell to 200,000 U.S. dlrs in
1986 from 52.2 mln dlrs the previous year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8915" NEWID="4002">
<DATE>11-MAR-1987 18:06:47.22</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0852&#31;reute
d f BC-FORMER-EMPIRE-OF-CARO   03-11 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>FORMER EMPIRE OF CAROLINA &lt;EMP> EXEC SENTENCED</TITLE>
<DATELINE>    NEW YORK, March 11 - </DATELINE><BODY>Mason Benson, former president and
chief operating officer of Empire of Carolina Inc, a toy maker,
today was sentenced in Manhattan federal court to a year and
one day in jail for his involvement in a kickback scheme.
    Benson pleaded guilty to charges of conspiracy, tax
evasion, filing false corporate tax returns and defrauding the
company's shareholders. He was also fined 5,000 dlrs.
    Benson was charged with demanding kickbacks from sales
representatives who were asked to turn over a portion of their
commisisons as a condition for doing business with Empire.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8916" NEWID="4003">
<DATE>11-MAR-1987 18:09:39.66</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0856&#31;reute
h f AM-AIDS   03-11 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>DOCTORS FIND LINK BETWEEN AIDS, SMALLPOX VIRUS</TITLE>
<DATELINE>    BOSTON, March 11 - </DATELINE><BODY>In a discovery that could complicate the
search for an AIDS vaccine, a team of U.S. Army doctors said
they have uncovered a potentially-fatal interaction between the
AIDS virus and a virus used to protect against smallpox.
     Physicians at the Walter Reed Army Institute of Research
said a 19-year-old man, who apparently had been exposed to the
AIDS virus, developed a pox-like disease and died after
receiving the smallpox vaccine. The military now tests recruits
for AIDS before vaccinating them.
    The findings, reported in The New England Journal of
Medicine, are significant because scientists have begun working
on an AIDS vaccine that relies on the smallpox vaccine.
     "Our case report raises provocative questions concerning
the ultimate safety of such vaccines," said the group led by
Dr. Robert Redfield.
     The report also throws into question the belief held by
some scientists that the smallpox vaccine, which exposes people
to a milder, protective form of the disease known as cowpox,
could be further modified to protect people against a host of
other diseases.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8917" NEWID="4004">
<DATE>11-MAR-1987 18:13:59.93</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0860&#31;reute
d f AM-CANCER   03-11 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>BIRTH CONTROL PILLS HELP PREVENT CANCER - STUDY</TITLE>
<DATELINE>    BOSTON, March 11 - </DATELINE><BODY>Doctors at the Centers for Disease
Control in Atlanta said they have new evidence that birth
control pills can help provide long-term protection from cancer
of the ovary, even if the pills are only taken for a few
months.
     The study, reported in the New England Journal of
Medicine, also found that all the various types of oral
contraceptives on the market were equally effective in lowering
the rate of ovarian cancer.
     The researchers estimated that the use of birth control
pills in this country probably prevented about 1,700 cases of
ovarian cancer in 1982.
    As more and more women who have taken oral contraceptives
"move into the age groups that are at highest risk for
epithelial ovarian cancer we may witness a declining incidence
of this serious disease," they said.
     Specifically, the team led by Dr. Howard Ory found that
"oral contraceptive use, even for a few months, reduces the
risk of epithelial ovarian cancer by 40 percent for women 20 to
54 years of age.
     "The effect probably takes from five to ten years to
become apparent, but it persists long after the use of oral
contraceptives ends. Moreover, protection exists regardless of
the formulation of oral contraceptive used," they said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8918" NEWID="4005">
<DATE>11-MAR-1987 18:14:49.93</DATE>
<TOPICS><D>interest</D><D>retail</D><D>ipi</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM C
&#22;&#22;&#1;f0861&#31;reute
u f BC-fin-futures-outlook   03-11 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. ECONOMIC DATA KEY TO DEBT FUTURES OUTLOOK</TITLE>
<AUTHOR>    By Brad Schade, Reuters</AUTHOR>
<DATELINE>    CHICAGO, March 11 - </DATELINE><BODY>U.S. economic data this week could be
the key in determining whether U.S. interest rate futures break
out of a 3-1/2 month trading range, financial analysts said.
    Although market expectations are for February U.S. retail
sales Thursday and industrial production Friday to show healthy
gains, figures within or slightly below expectations would be
positive for the market, the analysts said.
    "You have to be impressed with the resiliency of bonds
right now," said Smith Barney Harris Upham analyst Craig
Sloane.
    Treasury bond futures came under pressure today which
traders linked to a persistently firm federal funds rate and a
rise in oil prices. However, when sufficient selling interest
to break below chart support in the June contract failed to
materialize, participants who had sold bond futures early
quickly covered short positions, they said.
    "Everyone is expecting strong numbers, and if they come in
as expected it won't be that bad for the market," Sloane said.
    Sloane said the consensus estimate for the non-auto sector
of retail sales is for a rise of 0.6 to 0.7 pct.
    Dean Witter analyst Karen Gibbs said a retail sales figure
below market forecasts would give a boost to debt futures, and
she put the range for the non-auto sector of retail sales at up
0.8 to 1.2 pct.
    Industrial production and the producer price index Friday
both are expected to show increases of about 0.5 pct, she
added.
    Retail sales "will tell us whether or not we will be able
to fill the gap," Gibbs said, referring to a chart gap in June
bonds between 100-26/32 and 101-3/32 created Friday. June bonds
closed at 100-4/32 today.
    Also key to debt futures direction, in addition to the
federal funds rate, is the direction of crude oil prices, said
Carroll McEntee and McGinley Futures analyst Brian Singer.
    "A higher fed funds rate and firm oil prices precluded the
market from breaking out of the trading range the last time the
market approached the top of the range," Singer said.
    In order for bonds to break above the top of the range,
which is just below 102 in the June contract, "the crude oil
rally needs to run its course and pull back a little bit,"
Singer said. "Fed funds are already easing back down toward the
six pct level."
    The recent surge in oil prices has also been a concern to
Manufacturers Hanover Futures analyst Jim Rozich, but the rally
may be nearing a top around 18.50 dlrs per barrel, he said.
    Rozich said he is looking for the June bond contract to
ease to 99-6/32 and find support.
    "I'm not quite ready to jump on the bullish bandwagon yet.
The jury is still out this week," Rozich said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8919" NEWID="4006">
<DATE>11-MAR-1987 18:15:09.97</DATE>
<TOPICS></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;f0863&#31;reute
d f AM-AID   03-11 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. "ACTION PROGRAM" FOR SUB-SAHARAN AFRICA</TITLE>
<DATELINE>    WASHINGTON, March 11 - </DATELINE><BODY>The Reagan administration,
responding to last year's United Nations special session on
Africa, today outlined a U.S. "action program" for sub-Saharan
Africa focusing heavily on economic reform and self-help.
    A White House statement announced establishment of "a
long-term U.S. goal for all U.S. economic programs and policies
in sub-Saharan Africa: to end hunger in the region through
economic growth, policy reform and private sector development."
    The statement said the "program of action" was recommended by
a White House task force set up last September.
    In a series of recommendations, the task force called for
new efforts to address Africa's heavy debt burden and said U.S.
food aid should stress production incentives to reinforce
African nations' economic reform and productivity.
    It also said better African access to world markets should
be promoted to reward good performance and enable African
nations to earn their way toward economic growth.
    The U.S. private sector should be mobilized to provide
"private, voluntary and corporate involvement of a humanitarian
    It said donor countries "should negotiate, through the
existing International Monetary Fund/World Bank coordination
process, framework agreements with each sub-Saharan African
country to establish long-term structural adjustment and reform
programs."
    The task force called for a separate budget account for
U.S. bilateral aid "in order to focus better on rewarding
economic performance and increasing the flexibility of U.S.
assistance programs for incentive economic reforms and private
sector development."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8920" NEWID="4007">
<DATE>11-MAR-1987 18:16:09.87</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;f0867&#31;reute
r f BC-UNUSUAL-TEXAS-INSTRUM   03-11 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>UNUSUAL TEXAS INSTRUMENTS &lt;TXN> PREFERRED PRICED</TITLE>
<DATELINE>    NEW YORK, March 11 - </DATELINE><BODY>In a novel type of financing, Texas
Instruments Inc marketed a three-part, 225 mln dlr issue of
convertible money market preferred stock through Shearson
Lehman Brothers Inc as sole manager.
    Shearson, which originated the new convertible concept,
said each of the three tranches totaled 75 mln dlrs. In the
first, a 2.85 pct dividend was set on the stock with a strike
price of 190 dlrs that represented a 15 pct premium over the
common stock price when terms were set.
    Also included were 4.36 pct dividend preferred with a 220
dlr strike price and 33 pct premium and 4.49 pct dividend
preferred with a 235 dlr strike price and 42 pct premium.
    Texas Instruments common closed at 167.25 dlrs, up 2-1/8.
    Ronald Gallatin, managing director at Shearson, said that
"demand for the offering was unbelievable, especially for the
first tranche."
    He said that Shearson originated the concept of auction
money market preferred stock three years ago. The conversion
feature of this issue is the new wrinkle.
    Commenting on the first tranche, Gallatin noted that the
original pricing talk called for a dividend in the four to 4.20
pct area. This was gradually cut to 2.85 pct because of intense
demand, saving the issuer money in financing costs.
    The Shearson official said that virtually all buyers of the
first tranche received less than they wanted. He said the
latter two tranches were less strongly oversubscribed.
    Like non-convertible money market preferred stock, the new
version allows investors to redeem their holdings every seven
weeks. Investors then can maintain their holdings, sell them,
or offer to hold on to the securities if the auction
dividend is at least at a level they specify in advance.
    Gallatin said the securities were sold to a broad range of
investors, including major insurance companies, banks, money
managers and pension funds.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8921" NEWID="4008">
<DATE>11-MAR-1987 18:21:00.31</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>canada</D></PLACES>
<PEOPLE><D>james-baker</D><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f0877&#31;reute
r f AM-CANADA-CLARK   03-11 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>CLARK SAYS HE EXPECTS U.S. ACTION ON ACID RAIN</TITLE>
<DATELINE>    WASHINGTON, March 11 - </DATELINE><BODY>Canadian Foreign Secretary Joe
Clark, winding up a two-day visit to Washington, said he
expected the Reagan administration to take some action on
reducing acid rain.
    "My impression is there will be some movement by the United
States administration on acid rain (but) how much movement I
can't judge or predict," he told reporters.
    The meetings with American officials are part of a routine
U.S.-Canada consultation but are also expected to lay the
groundwork for a summit in Ottawa next month between President
Reagan and Prime Minister Brian Mulroney.
    Clark today held discussions with Treasury Secretary James
Baker and Democratic Sens. Patrick Moynihan of New York,
Christopher Dodd of Connecticut, Lloyd Bentsen of Texas and
George Mitchell of Maine.
    Yesterday, he held talks with Vice President George Bush,
Secretary of State George Shultz and Commerce Secretary Malcolm
Baldrige.
    Among its priorities, Canada is seeking evidence that
Reagan is prepared to live up to a commitment made last year to
implement in the United States a five-year 5 billion U.S. dlr
program to test cleaner ways of burning coal.
    This issue was discussed at length with Baker and several
of the senators, including Mitchell who urged Canada to "keep
the heat on" the Reagan administration to force action, Canadian
officials said.
    Also taken up with most of the senators and Baker were
trade issues, including the need for the United States and
Canada to establish a better mechanism for settling trade
disputes between the two countries, who are each other's major
trading partner, Canadian officials said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8922" NEWID="4009">
<DATE>11-MAR-1987 18:22:58.57</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0886&#31;reute
r f BC-FORD-MOTOR-&lt;F>-DISTRI   03-11 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>FORD MOTOR &lt;F> DISTRIBUTES PROFIT SHARING</TITLE>
<DATELINE>    DALLAS, March 11 - </DATELINE><BODY>Ford Motor COr said that profit-sharing
checks were distributed to employees in its U.S. facilities.
    About 371 mln dlrs was distributed to 160,253 emplyees. The
average payment per employee was more than 2,100 dlrs compared
with 1,200 in 1985.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8923" NEWID="4010">
<DATE>11-MAR-1987 18:24:57.40</DATE>
<TOPICS></TOPICS>
<PLACES><D>jamaica</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f0887&#31;reute
u f BC-jamaica-puts-cap-on-b   03-11 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>JAMAICA PUTS CAP ON BORROWING</TITLE>
<DATELINE>    Kingston, march 11 - </DATELINE><BODY>jamaica has put a cap on its 3.5
billion dlr foreign debt and will reduce its obligations by 300
mln dlrs this year, prime minister edward seaga said today.
    Speaking at a news conference, seaga said jamaica has
reached its "maximum stock of debt" and will not undertake any
more borrowing until it is justified by economic growth.
    "this year we'll be reducing the stock of debt by 300
million dollars," he said.
    He told reporters his government aims to reduce jamaica's
ratio of debt payments to foreign exchange earnings from the
current 50 pct to 25 pct within three years.
    Debt payments this year are expected to total 287 mln
dollars, seaga said.
    yesterday jamaica agreed with creditor banks to reschedule
over the next 12 years some 181 miln dlrs due in 1987-89.
    The accord includes a grace period on principal payments
for eight and a half years and a reduction of interest rates
from 2.5 to 1.125 pct above libor.
    Last week, jamaica obtained a 10-year rescheduling of 100
pct of principal and 85 pct of interest on 125 mln dollars of
debt to the paris club nations  the debt would have fallen due
over the next two years.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8924" NEWID="4011">
<DATE>11-MAR-1987 18:26:24.22</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0888&#31;reute
d f AM-SICKLE   03-11 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>FASTER TEST FOR SICKLE CELL ANEMIA DEVELOPED</TITLE>
<DATELINE>   BOSTON, March 11 - </DATELINE><BODY>A team of California researchers said
that they have developed a better, faster test for detecting
sickle cell anemia in unborn children than existing procedures.
     The test, developed by Cetus Corp &lt;CTUS> researchers,
requires only a small amount of genetic material from a fetus
and produces a diagnosis within a day, unlike other tests that
require several days and can only be done in a few specialized
centers, they said.
     Sickle cell anemia is a painful, inherited blood disease
that causes the normally-flexible red blood cells to stiffen
into a sickle-like shape. It is primarily found in blacks.
    The researchers said in The New England Journal of Medicine
that their "procedure promises to be a rapid, sensitive and
reliable method for the prenatal diagnosis of sickle cell
disease."
     In addition, they said, the technique might also be
adapted to detect other types of genetic disease.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8925" NEWID="4012">
<DATE>11-MAR-1987 18:36:05.15</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;f0900&#31;reute
r f BC-BANK-OF-BRITISH-COLUM   03-11 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF BRITISH COLUMBIA 1ST QTR JAN 31 NET</TITLE>
<DATELINE>    VANCOUVER, British Columbia, March 11 -
    </DATELINE><BODY>Oper shr loss two cts vs profit three cts
    Oper net profit 273,000 dlrs vs profit 1,710,000
    YEAR - period ended October 31, 1986
    Oper shr loss 23 cts vs profit 14 cts
    Oper net loss 4,397,000 vs profit 7,527,000
    Assets 2.67 billion vs 3.25 billion
    Note: 1987 1st qtr net excludes extraordinary loss of 2.2
mln dlrs or six cts shr.
    1986 yr net excludes extraordinary loss of 66 mln dlrs or
1.94 dlrs shr involving 22.1 mln dlrs of costs from sale of
bank assets to Hongkong Bank of Canada, eight mln dlrs for
contingent liabilities in respect of litigation and potential
tax reassessment by U.S. govt and 35.9 mln dlrs of deferred tax
debits.
    Most bank assets sold to HongKong Bank of Canada, a unit of
&lt;Hong Kong and Shanghai Banking Corp> in Nov, 1986.
    Shr after preferred divs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8926" NEWID="4013">
<DATE>11-MAR-1987 18:37:48.60</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>iran</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0904&#31;reute
u f AM-REAGAN-HAKIM   03-11 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>RAN SCANDAL PARTICIPANT TO GET IMMUNITY OFFER</TITLE>
<DATELINE>    WASHINGTON, March 11 - </DATELINE><BODY>Albert Hakim, an arms merchant, is
the first top-ranked player in the Iran arms scandal who may be
enticed into testifying by the promise of immunity,
investigators said.
    The House Select committee probing the Iran arms scandal
has voted to grant limited immunity from criminal prosecution
to Hakim in return for his testimony.
    Hakim, 51, was said deeply involved from the start in the
attempt to trade arms to Iran for help in freeing American
hostages in Lebanon and the diversion of funds and arms to
rebels in Nicaragua.
  
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8927" NEWID="4014">
<DATE>11-MAR-1987 18:38:02.32</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;f0905&#31;reute
r f BC-RESTAURANT-ASSOCIATES   03-11 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>RESTAURANT ASSOCIATES INC &lt;RA> 4TH QTR JAN 3</TITLE>
<DATELINE>    NEW YORK, March 11 -
    </DATELINE><BODY>Shr 25 cts vs 36 cts
    Net 1.4 mln vs 1.4 mln
    Revs 56.9 mln vs 35.1 mln
    Year
    Shr 86 cts vs 75 cts
    Net 4.7 mln vs 3.0 mln
    REvs 201.4 mln vs 140.0 mln
    NOTE:1985 4th qtr includes 99,000 loss from carryforward.
Shares restated to give effect to 1.4 to one stock split in the
form a 40 pct class A dividend in August 1985.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8928" NEWID="4015">
<DATE>11-MAR-1987 18:41:59.82</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;f0907&#31;reute
r f BC-MICHIGAN-GENERAL-CORP   03-11 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>MICHIGAN GENERAL CORP &lt;MGL> 4TH QTR</TITLE>
<DATELINE>    SADDLE BROOK, N.J., March 11 -
    </DATELINE><BODY>Shr loss 1.02 dlrs vs 1.01 dlr
    Net loss 18.1 mln vs 11.4 mln
    Revs 96.0 mln vs 90.3 mln
    Year
    Shr loss 2.65 dlrs vs loss 3.06 dlrs
    Net loss 39.3 mln vs 34.6 mln
    Revs 386.0 mln vs 373.0 mln
    NOTE:1986 4th qtr, year loss includes 14.4 mln dlrs, 4.6
mln dlrs respectively from discontinued. 1985 4th qtr and year
include loss of 13.1 mln, 1.9 mln dlr respectively.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8929" NEWID="4016">
<DATE>11-MAR-1987 18:45:36.66</DATE>
<TOPICS><D>crude</D><D>nat-gas</D><D>iron-steel</D></TOPICS>
<PLACES><D>usa</D><D>libya</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f0908&#31;reute
u f BC-USX-&lt;X>-PROVED-OIL,-G   03-11 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>USX &lt;X> PROVED OIL, GAS RESERVES FALL IN 1986</TITLE>
<DATELINE>    NEW YORK, March 11 - </DATELINE><BODY>USX Corp said proved reserves of oil
and natural gas liquids fell 28 pct to 802.8 mln barrels at the
end of 1986 from 1.12 billion barrels at year-end 1985.
    The figures, in USX's just-released 1986 annual report,
indicate much of the drop resulted from the exclusion of 293.7
mln barrels of Libyan reserves, after the U.S. government last
June directed U.S. oil companies to end Libyan operations.
    USX, which owns Marathon Oil Co and Texas Oil and Gas Corp,
had 60 pct of its 1986 sales of 14.94 billion dlrs from its oil
and gas operations.
    About 24 pct of total sales came from USX's USS steel unit
and 16 pct from diversified businesses, which include oilfield
services, raw materials, minerals, chemicals and real estate.
    According to the report, domestic liquids reserves fell
slightly to 628.5 mln barrels from 628.9 mln and foreign
reserves fell to 174.3 mln from 486.4 mln barrels. The large
drop in foreign reserves was in the Middle East and Africa,
where they fell to about 9.3 mln barrels from 316.7 mln,
reflecting the exclusion of Libya.
    Total natural gas reserves fell to 4.82 trillion cubic feet
at year-end 1986 from 5.18 trillion at the end of 1985.
    Again, most of the drop came from the Middle East and
Africa, where reserves fell to zero from 71.9 billion cubic
feet, excluding Libyan reserves.
    U.S. natural gas reserves fell to 3.44 trillion cubic feet
from 3.65 trillion and foreign reserves fell to 1.38 trillion
from 1.53 trillion.
    In other areas, USX said total capital spending fell to 962
mln dlrs in 1986 from 1.78 billion dlrs in 1985. The 1986
audited figure is eight mln dlrs higher than the unaudited
figure the company reported on Jan 27.
    USX also said it expects to record a gain of 150 mln dlrs
in 1988, representing 50 pct of previously existing investment
tax credits allowable under the new tax law. The loss of the
other half of the credits was reflected in the fourth quarter.
    In a discussion of steel results, USX said plants that were
shut down last month and some previously idled plants may be
permanently closed. USX took a fourth quarter charge of 1.03
billion dlrs to restructure its steel operations. The charge
included the "indefinite idling" last month of four plants in
Utah, Pennsylvania and Texas.
    Other plants or parts of plants in Pennsylvania, Indiana,
Alabama, Ohio and Chicago had been previously idled.
    "These operations are not permanently shut down. Improved
market conditions for the products from these plants may make
it feasible to reopen some of them," USX said in the report.
    "On the other hand, a lack of any future market improvement
may necessitate their permanent closing," it added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8930" NEWID="4017">
<DATE>11-MAR-1987 18:50:05.96</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;f0914&#31;reute
r f BC-PHILLIPS&lt;P>-SAYS-STOC   03-11 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILLIPS&lt;P> SAYS STOCK UP ON STEPS TO PARE DEBT</TITLE>
<DATELINE>    NEW YORK, March 11 - </DATELINE><BODY>Phillips Petroleum Co Chairman C. J.
"Pete" Silas said his company's stock, ranked fourth on the
most active list of stocks traded today, rose partly because of
steps it took to pare its debt.
    Silas told Reuters in an interview today, "part of this
strength results from the rise in oil prices and also because
some of the analysts have been happy with the steps we've taken
in 1986 to pare our debt."
    Phillips stocks rose 1/4 to 14 dlrs a share following
recommendations by some oil analysts, a company source said.
    Phillips debt stood at 5.9 billion dlrs in December 1986
down from a 1985 high of 8.6 billion dlrs, analysts said.
    "At 14 dlrs a share, Phillips is priced closer to the actual
price of oil," he added.
    Silas said, "if the analysts are right that oil prices will
rise to 20 dlrs or higher, then it seems to make sense to buy
Phillips." He is, however, more cautious about the strength in
crude prices, expecting the price to fluctuate between 16-18
dlrs a barrel for the year.
    Oil industry analysts said one reason for the stock's
popularity of the stock is that it traded at a strong discount
to its appraised value and was attractively priced for small
investors.
    Charles Andrew, an analyst who follows Phillips for John S.
Herold Inc of Greenwich, Conn said that the appraised value of
the company, based on available data is 34.25 dlrs.
    "The stock is trading at about 1/3 its appraised value. The
company has tremendous leverage and if it can get its act
together and if oil prices are steady to higher there is good
room for improvement," he said.
   But, he added, "if oil prices turn lower, there will be a
lot of pressure on Phillips."
   Phillips' shares fell as low as eight dlrs a share over the
last 52 weeks with a 1987 low of 11-3/4 dlrs in 1987.   
Analysts say that the appraised value of the company could be
revised due to asset sales of their oil and gas reserves.
   Silas told Reuters that the asset sales which amount to
about two billion dlrs for 1986 were completed and that none
were planned.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8931" NEWID="4018">
<DATE>11-MAR-1987 18:50:57.36</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0915&#31;reute
u f BC-MICHIGAN-GENERAL-&lt;MGL   03-11 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>MICHIGAN GENERAL &lt;MGL> BEGINS EXCHANGE OFFER</TITLE>
<DATELINE>    SADDLE BROOK, N.J., march 11 - </DATELINE><BODY>Michigan General Corp said
it began an exchange offer for its 110 mln dlrs outstanding
principal amount of 10-3/4 pct senior subordinated debentures
due December 1, 1998.
    Pursuant to the exchange offer, each 1,000 dlr principal
amount will receive 500 dlr principal amount of senior
subordinated notes due March 1, 1992, 200 dlr principal amount
of non-interest bearing convertible senior subordainted notes
due March 1, 1997 and 12 shares of delayed convertible
preferred stock, liquidation preference 25 dlrs per share.
    The offer will expire April nine.
    Michigan General said the exchange offer is crucial to is
attempt to restructure and reduce its risk from Chapter 11.
    The principal purpose of the offer is to reduce its debt
service on the 10-3/4 pct debetures, increase stockholders'
equity and induce its lender to continue to fund.
    Assuming a 90 pct acceptance of the offer, Michigan's
annual cash interest requirements will be reduced by about 10.6
mln dlrs, it said.
    Completion is subject to the tender of at least 90 pct of
the debentures and its lender to waive it from default under
its loan agreements.
      
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8932" NEWID="4019">
<DATE>11-MAR-1987 18:53:18.49</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;f0918&#31;reute
r f BC-BANK-OF-B.C.-REVISES   03-11 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF B.C. REVISES SHARE PAYOUT ESTIMATE</TITLE>
<DATELINE>    VANCOUVER, British Columbia, March 11 - </DATELINE><BODY>Bank of British
Columbia said it revised its estimate of shareholder
distributions from last November's sale of most of the bank's
assets to HongKong Bank of Canada to between 65 cts and 1.15
dlrs a share from 55 cts to 1.20 dlrs a share.
    The bank said the estimate could rise to between 1.30 dlrs
and 1.80 dlrs a share if the full pension surplus is obtained.
It said it did not know when distributions would be made.
    It earlier reported that operating profit for first quarter
ended January 31 fell to 273,000 dlrs from 1.7 mln dlrs the
previous year.
    For full-year 1986 ended October 31, the bank posted an
operating loss of 4.4 mln dlrs against year-earlier profit of
7.5 mln dlrs. The bank also posted a 66 mln dlr extraordinary
loss in fiscal 1986.
    Bank of British Columbia sold most of its assets last
November to HongKong Bank Canada, a unit of &lt;HongKong and
Shanghai Banking Corp>, of Hong Kong, for 63.5 mln dlrs.
    It said efforts to wind up the bank's affairs were
proceeding as quickly as possible.
    The bank said it expected to report positive earnings in
future periods, barring unforeseen circumstances.
    Loan losses, which the bank previously said figured in its
move to sell off most of its assets, rose to 105.7 mln dlrs in
fiscal 1986 from year-earlier 36.1 mln dlrs. The bank said 31.1
mln dlrs of the 1986 total represented downward adjustments to
its portfolio of syndicated sovereign risk loans as required
under the sale to HongKong Bank.
    Since November 27, the bank has confined activities to the
winding up of affairs, Bank of British Columbia said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8933" NEWID="4020">
<DATE>11-MAR-1987 18:54:46.18</DATE>
<TOPICS></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;f0921&#31;reute
u f BC-HOUSE-VOTES-TO-BLOCK   03-11 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>HOUSE VOTES TO BLOCK CONTRA AID FOR SIX MONTHS</TITLE>
<DATELINE>    WASHINGTON, March 11 - </DATELINE><BODY>The House voted to block 40 mln dlrs
in military aid to the Nicaraguan rebels until President Reagan
accounts for past assistance, including money diverted from the
U.S. sale of arms to Iran.
    The vote was seen as a temporary defeat for Reagan, who has
made aid to the "contras" a key initiative.
    Congressional Democratic leaders have conceded that despite
today's vote, they can not muster a two-thirds majority to
override a certain Reagan veto. But they have said it is likely
they can win a battle expected this fall over 105 mln dlrs iin
new aid Reagan is requesting.
             
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8934" NEWID="4021">
<DATE>11-MAR-1987 18:56:34.21</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;f0924&#31;reute
d f BC-&lt;KIENA-GOLD-MINES-LTD   03-11 0040</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;KIENA GOLD MINES LTD> 4TH QTR NET</TITLE>
<DATELINE>    TORONTO, March 11 -
    </DATELINE><BODY>Shr 17 cts vs 16 cts
    Net 1,019,000 vs 985,000
    Revs 7,997,000 vs 7,492,000
    YEAR
    Shr 1.18 dlrs vs 64 cts
    Net 6,959,000 vs 3,778,000
    Revs 36.5 mln vs 29.8 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8935" NEWID="4022">
<DATE>11-MAR-1987 18:56:43.55</DATE>
<TOPICS><D>carcass</D><D>livestock</D></TOPICS>
<PLACES><D>argentina</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;L
&#22;&#22;&#1;f0925&#31;reute
r f BC-ARGENTINE-MEAT-EXPORT   03-11 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>ARGENTINE MEAT EXPORTS HIGHER IN JAN/FEB 1987</TITLE>
<DATELINE>    BUENOS AIRES, March 11 - </DATELINE><BODY>Argentine meat exports during
Jan/Feb 1987 totalled 39,714 tonnes, against 36,594 tonnes
shipped in the same 1986 period, National Meat board said.
    Shipments in tonnes with comparative figures for the 1986
period, in brackets, included: beef 26,945 (20,096), horse meat
3,257 (4,211) and beef offal 7,660 (10,502).
    Argentine's meat exports totalled 20,243 tonnes in February
1987, against 19,217 tonnes shipped in the same 1986 month.
    Shipments in tonnes, with comparative figures for February
1986, in brackets, included: beef 13,272 (11,464), horse meat
1,543 (2,083) and beef offal 4,476 (4,672), the board added.
    Main destinations for refrigerated beef (bone in
equivalent) were as follows, in tonnes, with comparative
figures for 1986 in brackets -
    EC 5,500 (7,900), Brazil 5,200 (unavailable), Israel 3,700
(3,000), Peru 2,500 (800), Singapore 500 (300), Switzerland 500
(400), Canary Islands 500 (300), Malta 500 (700), Aruba/Curazao
200 (300), Chile 100 (600).
    Main destinations for canned meat and cooked beef (bone in
equivalent), in tonnes with comparative figures for Jan/Feb
1986, in brackets, were -
    United States 11,200 (13,400), EC 4,700 (5,100).
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8936" NEWID="4023">
<DATE>11-MAR-1987 19:02:33.14</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;f0940&#31;reute
r f BC-KIENA-PLANS-TWO-FOR-O   03-11 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>KIENA PLANS TWO-FOR-ONE STOCK SPLIT</TITLE>
<DATELINE>    TORONTO, March 11 - </DATELINE><BODY>&lt;Kiena Gold Mines Ltd> said it planned
a two-for-one common stock split, pending shareholder approval
on April 7.
    It said approval would require 66-2/3 pct of votes cast.
Kiena said 57 pct-owner Campbell Red Lake Mines Ltd &lt;CRK> was
expected to vote in favor of the split.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8937" NEWID="4024">
<DATE>11-MAR-1987 19:04:31.39</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0941&#31;reute
r f BC-VANZETTI-&lt;VANZ>-INCRE   03-11 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>VANZETTI &lt;VANZ> INCREASE OF SHARES APPROVED</TITLE>
<DATELINE>    STOUGHTON, Mass, March 11 - </DATELINE><BODY>vanzetti Systems INc said its
shareholders approved increasing the number of authorized
shares to five mln from three mln.
    Shareholders also approved increasing the number of shares
reserved for options to employees to 300,000 from 150,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8938" NEWID="4025">
<DATE>11-MAR-1987 19:04:38.26</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;f0942&#31;reute
s f BC-ROWE-FURNITURE-CORP-&lt;   03-11 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>ROWE FURNITURE CORP &lt;ROWE> SETS QTLY DIVIDEND</TITLE>
<DATELINE>    SALEM, Va., March 11 - 
    </DATELINE><BODY>Qtly div four cts vs four cts prior
    Pay April 15
    Record March 20
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8939" NEWID="4026">
<DATE>11-MAR-1987 19:05:21.41</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>reagan</D><D>yeutter</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0943&#31;reute
u f BC-U.S.-HOUSE-PANEL-TAKE   03-11 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. HOUSE PANEL TAKES FIRST TRADE BILL VOTES</TITLE>
<AUTHOR>    By Jacqueline Frank</AUTHOR>
<DATELINE>    WASHINGTON, March 11 - </DATELINE><BODY>House trade lawmakers took their
first votes on measures designed to toughen U.S. trade laws but
held over until tomorrow the most difficult votes on
controversial plans to protect American industries.
    Meeting in closed session, the House Ways and Means Trade
Subcommittee failed to resolve one of the most sensitive issues
in the bill--whether they will force major foreign trading
partners to severely cut their trade surpluses with the United
States.
    The subcommittee is considering a toned-down version of
Democratic-sponsored trade legislation that aims to open
foreign markets but which drops last year's effort to force
President Reagan to retaliate with quotas or tariffs.
    Congressional aides who asked not to be identified said the
lawmakers intend to wrap up their proposals tomorrow and will
consider a proposal to mandate retaliation without setting
specific trade penalties.
    The legislation faces another hurdle in the full Ways and
Means Committee next week before the full House votes on it.
    Rep. Richard Gephardt, a Missouri Democrat who is seeking
his party's 1988 presidential nomination, said he may offer an
amendment to call for reductions in the trade surpluses of
those countries with barriers to imports of U.S. goods.
    This would be a moderated version of his earlier plan to
force a mandatory ten per cent annual cut in the trade surplus
with the United States by Japan, South Korea, Taiwan, West
Germany and other countries with the largest trade imbalances.
    "My criteria for a good amendment sets a standard for
getting the trade deficit down," he told reporters.
    The trade law changes are to become part of a major
congressional and administration effort to turn around the
record U.S. trade deficit of 169 billion dlrs last year by
opening up foreign markets and making U.S. products more
competitive.
    House Speaker James Wright, a Texas Democrat, said again
today he expects the full House will approve the trade bill by
May and that Reagan will accept the final congressional bill.
    "I expect whatever is reported (by the Ways and Means
Committee) will pass. We will have a good bill and an effective
bill," he told reporters.
    The comprehensive trade bill will include work by other
committees to ease export controls on high technology, to aid
U.S. workers displaced by foreign competition, to stimulate
research and development, to remove foreign trade barriers and
to improve education and worker training.
    The lawmakers agreed that for the first time a U.S.
industry could charge foreign producers with unfair competition
if they deny basic worker rights such as collective bargaining,
safety rules and payment of a minimum wage appropriate to the
country's economic development.
    They transferred to U.S. Trade Representative Clayton
Yeutter the powers now held by Reagan to decide whether to
retaliate against foreign violations of fair trade rules and
whether an injured industry deserves import relief.
    They agreed to make it easier for a company to get
temporary relief from import competition but agreed the
industry should provide a plan to become competitive.
    The administration has not announced its support but
Yeutter said yesterday, "I am cautiously optimistic," that the
Democratic-led House will come up with an acceptable bill.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8940" NEWID="4027">
<DATE>11-MAR-1987 19:06:36.56</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>france</D><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0945&#31;reute
r f BC-SOVIET-MINISTER-SAYS   03-11 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>SOVIET MINISTER SAYS TRADE BOOST UP TO FRENCH</TITLE>
<DATELINE>    PARIS, March 11 - </DATELINE><BODY>Soviet first deputy prime minister
Vsevolod Murakhovsky said at the end of a brief visit here his
country wanted to boost joint business with France, but that a
reduction of France's trade deficit with the Soviet Union
depended on the French.
    Murakhovsky, who is also chairman of the State
Agro-Industrial Committee (GOSAGROPROM), told a news conference
he had discussed a variety of possible deals with French
companies Rhone-Poulenc, Pechiney and Imec.
    Declining to put figures on possible contracts he said he
had discussed plant protection and the processing of highly
sulphuric gas with Rhone-Poulenc, packaging technology for
agricultural products with Pechiney, and fruit and vegetable
juice processing with Imec.
    An official for Pechiney said an agreement of intent on
packaging could be signed soon, but could not give any other
details. The other two companies were not immediately available
for comment.
    Asked whether he foresaw a reduction this year of France's
trade shortfall, at 7.6 billion francs in the first 11 months
of 1986 against 5.1 billion for the whole of 1985, Murakhovsky
told Reuters: "It all depends on France."
    At a meeting in Paris last January French and Soviet
foreign trade ministers said they were committed to increased
efforts to reduce the deficit. Estimates at the time showed a
French 190 mln franc surplus for December 1986.
    Murakhovsky said the Soviet Union was prepared to talk with
anybody with "interesting" proposals offering latest technology
and assuring "a mutual advantage."
    He said the Soviet Union had many tasks ahead of it and
would deal rapidly with proposals it considered interesting.
    He encouraged companies to take advantage of new laws
guaranteeing "the interests of foreign partners" in joint
ventures.
    But he said no agreements had yet been finalised under the
new joint venture laws.
    He said concrete deals had not yet been finalised as a
result of a one billion dollar accord signed in Moscow last
month with French businessman Jean-Baptiste Doumeng.
    He said Doumeng's Interagra company was preparing proposals
for further examination by the Soviet Union. Doumeng last month
said the agreement was to exchange one billion dollars worth of
goods.
    Murakhovsky said the agreement was one of intent, and
designed primarily to renew and increase the Soviet Union's
food production capacity.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8941" NEWID="4028">
<DATE>11-MAR-1987 19:09:27.77</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>ecuador</D><D>venezuela</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A Y
&#22;&#22;&#1;f0952&#31;reute
u f AM-ecuador-assistance 1stld  03-11 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>VENEZUELA TO LEND OIL TO ECUADOR FOR EXPORT</TITLE>
<DATELINE>    Caracas, march 11 - </DATELINE><BODY>venezuela will supply ecuador with an
as yet undetermined amount of crude oil to help it meet export
commitments, seriously affected by last week's earthquake,
energy and mines minister arturo hernandez grisanti said.
    He gave few details about the deal, but said a crude oil
loan agreement will be made between state oil companies
petroleos de venezuela (pdvsa) and ecuador's cepe.
    Ecuador was forced to suspend oil exports for an expected
four months after an earthquake damaged a pipeline. Oil
accounts for 60 per cent of its export income.
     Hernandez was speaking to reporters at miraflores palace
on the results of talks with ecuador's deputy energy minister
fernando santos alvite, who arrived here last night.
    "the volume lent to ecuador would be discounted from its
opec quota and would not affect venezuela's," he said. "we would
from august on produce our own quota and sell the additional
amounts that ecuador would be repaying us," he said.
    He did not elaborate on the quota arrangements but did say
ecuador would notify opec by telex that venezuela would be
lending it a certain amount over so many days.
    Venezuela's opec output quota is currently 1.495 million
barrels a day, and ecuador's has been set at 210,000 bpd.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8942" NEWID="4029">
<DATE>11-MAR-1987 19:10:26.95</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;f0956&#31;reute
d f BC-EAGLE-CLOTHES-INC-&lt;EG   03-11 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>EAGLE CLOTHES INC &lt;EGL> 2nD QTR JAN 31</TITLE>
<DATELINE>    NEW YORK, March 11 -
    </DATELINE><BODY>Shr profit 17 cts vs profit 14 cts
    Net profit 1.3 mln vs profit 901,000
    Revs 36.9 mln vs 36.2 mln
    Six months
    Shr profit 18 cts vs loss 11 cts
    Net profit 1.4 mln vs loss 716,000
    Revs 63.6 mln vs 57.7 mln
    NOTE:1986 six months includes increase in provision for
doubtful accounts to 1.5 mln dlrs. 1986 shares give effect to
issuance of 1.5 mln shares in exchange for outstanding Series 1
preferred shares.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8943" NEWID="4030">
<DATE>11-MAR-1987 19:11:19.94</DATE>
<TOPICS></TOPICS>
<PLACES><D>iran</D><D>iraq</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0958&#31;reute
r f AM-GULF-IRAQ   03-11 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>IRAQ SAYS IRAN ATTACK REPULSED ON SOUTHERN FRONT</TITLE>
<DATELINE>    BAGHDAD, March 11 - </DATELINE><BODY>Iraq said it had repelled an Iranian
attack on positions held by its fourth army corps east of the
southern Iraqi town of Amarah on the Baghdad-Basra highway.
    A Baghdad war communique said an Iranian infantry brigade,
backed by tanks, launched the overnight attack and fierce
fighting raged for more than six hours before Iranian troops
fled the battlefield, leaving 220 men killed and many wounded.
    No major battles have been reported fought by the fourth
army corps for more than a year in the area, mainly swamplands
of the Hawizah marshes running eastward to the southern port
city of Basra.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8944" NEWID="4031">
<DATE>11-MAR-1987 19:15:32.68</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>uk</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0961&#31;reute
r f AM-BRITAIN-JAPAN   03-11 0120</UNKNOWN>
<TEXT>&#2;
<TITLE>BRITAIN CALLS ON JAPAN TO INCREASE IMPORTS</TITLE>
<DATELINE>    LONDON, March 11 - </DATELINE><BODY>Britain today called on Japan to
increase foreign imports or risk the rise of protectionism and
the harm it would bring to it and other trading nations.
    British Trade and Industry Secretary Paul Channon said
Japan must heed a report issued by a Japanese government
advisory body in December calling for faster domestic demand to
help cut its trade surplus and restructure its economy.
    "I recognise that the strong yen has brought problems to
Japan's domestic economy," he told a group of Japanese
businessmen in London.
    "But these short term difficulties should not be allowed to
deflect Japan from the fundamental reforms necessary," he said.
    "It is not just a domestic issue for Japan. If import
propensity does not expand very soon there is a real risk from
protectionist lobbies, particularly in the U.S. With whom Japan
has so massive a surplus," he said.
    "They may well succeed in securing action by governments
which would be highly injurious to trading nations like Japan
and the U.K."
    Channon said there had been substantial growth in the
volume of trade between Japan and Britain, amounting to 6.2
billion sterling (9.8 billion dlrs) last year.
    But he added: "Regrettably too much of it was in one
direction, with the Japanese selling us 3.7 billion sterling
(5.8 billion dlrs) more than we sold them."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8945" NEWID="4032">
<DATE>11-MAR-1987 19:15:55.25</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0963&#31;reute
f f BC-******TAFT-BROADCASTI   03-11 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>TAFT BROADCASTING REJECTS 145 DLR PER SHARE BUYOUT OFFER FROM THETA CORP
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8946" NEWID="4033">
<DATE>11-MAR-1987 19:18:49.58</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;f0964&#31;reute
u f BC-TAFT-&lt;TFB>-REJECTS-14   03-11 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>TAFT &lt;TFB> REJECTS 145 DLR/SHR OFFER</TITLE>
<DATELINE>    Cincinnati, March 11 - </DATELINE><BODY>Taft Braodacasting Co said its board
of directors unanimously decided not to accept the pending
proposal of Theta Corp, an investor group led by Dudley Taft.
    The decision was based on, among other things, the advise
of its financial advisors, goldman sachs and co, that the offer
of 145 dlrs per share was inadequate.
    Taft said the board concluded that the offer failed to
recognize fully the future propsects of the company and
directed management to explore alternatives including possible
financial restructuring.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8947" NEWID="4034">
<DATE>11-MAR-1987 19:23:42.46</DATE>
<TOPICS></TOPICS>
<PLACES><D>ecuador</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0967&#31;reute
d f AM-ecuador-tremor 1stld  03-11 0120</UNKNOWN>
<TEXT>&#2;
<TITLE>ECUADOR DEBT TO BE HONOURED AFTER QUAKE SURVIVAL</TITLE>
<DATELINE>    QUITO, March 11 - </DATELINE><BODY>Ecuador, stricken by a severe earthquake,
will honour its 8.16 billion dlr foreign debt but only after
ensuring the survival of the country after the tremor which
claimed at least 300 lives and caused 4,000 persons to
disappear.
    "The government's position ... is to permit us to honour the
(debt) commitments but without sacrificing the country, because
first we have to survive and later we can comply," information
minister Marco Lara told reuters.
     He said the nation would later announce definitive
measures on the foreign debt in the aftermath of the earthquake
which the government said will cause nearly a billion dlrs in
economic losses.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8948" NEWID="4035">
<DATE>11-MAR-1987 19:26:43.72</DATE>
<TOPICS><D>veg-oil</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0968&#31;reute
r f AM-COMMUNITY-BRITAIN   03-11 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>BRITISH MINISTER CRITICISES PROPOSED EC OILS TAX</TITLE>
<DATELINE>    LONDON, March 11 - </DATELINE><BODY>A British minister said that a proposed
European Community tax on vegetable oils and fats would raise
the price of fish and chips and he pledged the government would
fight against it.
    Lord Belstead, a junior agriculture minister, told the
House of Lords the tax would raise the price of raw materials
used in many processed foods by about 100 pct.
    He said revenue should not be raised by taxing the consumer
and called the proposal "repugnant."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8949" NEWID="4036">
<DATE>11-MAR-1987 20:04:55.06</DATE>
<TOPICS><D>jobs</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0981&#31;reute
b f BC-AUSTRALIAN-UNEMPLOYME   03-11 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIAN UNEMPLOYMENT EASES IN FEBRUARY</TITLE>
<DATELINE>    CANBERRA, March 12 - </DATELINE><BODY>Australia's seasonally-adjusted
unemployment rate eased to 8.2 pct of the estimated workforce
in February from 8.3 pct in January, compared with 7.9 pct a
year earlier, the Statistics Bureau said.
    The number of unemployed declined to 632,100 from 638,300
in January, against 594,500 in February 1986, it said.
    But unadjusted, the number of jobless rose to 699,800 or
9.1 pct of the workforce from 671,400 or 8.9 pct in January and
658,500 or 8.7 pct a year earlier.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8950" NEWID="4037">
<DATE>11-MAR-1987 21:02:16.57</DATE>
<TOPICS></TOPICS>
<PLACES><D>ecuador</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0996&#31;reute
u f BC-ECUADOR-SEEKS-HALT-TO   03-11 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>ECUADOR SEEKS HALT TO PAYMENTS TO BANKS IN 1987</TITLE>
<DATELINE>    QUITO, March 11 - </DATELINE><BODY>Ecuador, stricken by a severe earthquake,
is seeking through negotiations with private foreign banks to
postpone all payments due to them for the rest of the year,
Finance Minister Domingo Cordovez said.
    He said in a statement, "The idea with the foreign banks is
to obtain from them the best terms to give the Ecuadorean
economy a complete relief in the period of deferral of payments
on the foreign debt during the present year."
    The statement referred only to payments due to private
foreign banks, a senior government finance official told
Reuters.
    These creditors hold two-thirds of Ecuador's foreign debt
which totals 8.16 billion dlrs.
    It did not refer to debts maturing to foreign governments
and multilateral lending agencies, accounting for the remainder
of Ecuador's foreign debt, the official said.
    He said Ecuador owed the private foreign banks between 450
and 500 mln dlrs in interest payments for the rest of 1987 and
about 66 mln in principal payments maturing this year.
    Cordovez said Ecuador would seek new loans from
multilateral organisations. A World Bank mission was due here
soon to evaluate emergency loans, government officials said.
    Ecuador has also appealed for emergency
aid from about 40 foreign governments.
    Government officials have calculated losses to the 1987
budget from last Thursday's earthquake at 926 mln dlrs.
    In 1986, Ecuador's total service on the foreign debt was
about 996 mln dlrs to all creditors.
    The quake ruptured Ecuador's main oil pipeline, suspending
crude exports for five months until the line is repaired. Oil
accounts for up to two-thirds of its total exports and up to 60
pct of total revenues. Before the tremor, Ecuador suspended
interest payments on January 31 to private foreign banks.
    Officials said they stopped interest payments due to a
cash-flow squeeze stemming from a slide in world oil prices,
which cut 1986 exports by about 25 pct to 2.18 billion dlrs.
    Ecuadorean finance officials have been in telephone contact
every day this week with some of the banks who sit on its
14-bank advisory committee, the senior government finance
official said. The committee represents the country's 400 or so
private foreign bank creditors.
    Cordovez also said in the statement, "The banks should
perceive that it is impossible at this moment to comply with
what was forseen."
    Cordovez added, Ecuador must make a new proposal in line
with the reality since the earthquake by seeking better options
of deferment and of softening the negotiation conditions."
    Interest payments fall due at least monthly to private
foreign banks.
    Ecuador's initial proposal earlier this year was to make
only one semi-annual or one annual interest payment this year.
    Under this proposal, it sought to defer interest payments
until June at the earliest, foreign bankers and government
officials here said.
    Ecuadorean officials held their last formal meeting with
the advisory committee in New York in January, but the
negotiations were suspended on January 16 due to the 12-hour
kidnapping of President Leon Febres Cordero by air force
paratroopers.
    The Red Cross says that least 300 people died and at least
4,000 are missing due to the earthquake.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8951" NEWID="4038">
<DATE>11-MAR-1987 21:06:50.50</DATE>
<TOPICS><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;RM
&#22;&#22;&#1;f0002&#31;reute
u f BC-TREASURY-SECRETARY-BA   03-11 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>TREASURY SECRETARY BAKER DECLINES COMMENT ON G-6</TITLE>
<DATELINE>    NEW YORK, March 11 - </DATELINE><BODY>U.S. Treasury Secretary James Baker
declined comment on the February 22 Paris accord between the
six major industrial nations under which they agreed to foster
exchange rate stability.
    Asked by reporters after a speech before the National
Fitness Foundation banquet what, if any, currency intervention
levels had been set in Paris, Baker replied: "We never talk
about intervention."
    Baker also declined to comment on his views about the
foreign exchange markets' reaction to the accord.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8952" NEWID="4039">
<DATE>11-MAR-1987 21:32:41.13</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>venezuela</D><D>ecuador</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>opec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0019&#31;reute
u f BC-ECUADOR-TO-ASK-OPEC-T   03-11 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>ECUADOR TO ASK OPEC TO RAISE EXPORT QUOTA</TITLE>
<DATELINE>    CARACAS, March 11 - </DATELINE><BODY>Ecuador will ask OPEC to raise its oil
export quota by 100,000 barrels per day to 310,000 to
compensate for lost output due to last week's earthquake,
deputy Energy Minister Fernando Santos Alvite said.
    Santos Alvite, who arrived in Caracas last night to discuss
an aid plan for Ecuador, did not say when the Organisation of
Petroleum Exporting Countries (OPEC) would be approached.
    The additional output would be related to plans now under
discussion for Venezuela and Mexico to lend Ecuador crude while
it repairs a pipeline damaged by the quake.
    Earlier, Venezuelan Energy and Mines Minister Aturo
Hernandez Grisanti said his country would supply an unspecified
part of Ecuador's export commitments.
    But Santos Alvite told reporters he hoped a first cargo of
300,000 barrels could leave Maracaibo this weekend to supply
refineries near Guayaquil. He added Ecuador also wanted to make
up for 50,000 bpd it shipped to Caribbean destinations. Mexico
might supply Ecuador's South Korean market.
    Ecuador may be unable to export oil for up to five months
due to extensive damage to a 25 mile stretch of pipeline
linking jungle oilfields to the Pacific port of Balao.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8953" NEWID="4040">
<DATE>11-MAR-1987 21:37:18.46</DATE>
<TOPICS><D>oilseed</D><D>rapeseed</D></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f0024&#31;reute
u f BC-CHINA'S-RAPESEED-CROP   03-11 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA'S RAPESEED CROP DAMAGED BY STORMS</TITLE>
<DATELINE>    PEKING, March 12 - </DATELINE><BODY>The yield on 46,000 hectares (ha) of
rapeseed in central China will be cut by up to 70 pct by
hailstorms and tornadoes that swept across nearly 100,000 ha of
crops on March 6, the New China News Agency said today.
    The storm, which lashed the Huai and Yangtze rivers and
eastern Anhui province, left two people dead and 800 others
injured. Some 800 houses were flattened and 19 boats sunk, it
said.
    The Anhui provincial government has sent emergency relief
to the 19 counties affected, the news agency said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8954" NEWID="4041">
<DATE>11-MAR-1987 22:25:49.20</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0040&#31;reute
u f BC-CHINA-CLOSES-SECOND-R   03-11 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA CLOSES SECOND ROUND OF OFFSHORE OIL BIDS</TITLE>
<DATELINE>    PEKING, March 12 - </DATELINE><BODY>China has closed the second round of
bidding by foreign firms for offshore oil exploration rights,
the China Daily has reported.
    It quoted a spokesman for the China National Offshore Oil
Corp (CNOOC) as saying China signed eight contracts with 15
foreign firms for blocks in the Pearl River mouth and south
Yellow Sea covering a total area of 44,913 sq km.
    Second round bidding began at the end of 1984 and only one
well has so far produced results -- Lufeng 13-1-1, 250 km
south-east of Shenzhen, with an output of 6,770 barrels a day.
The well was drilled by a group of Japanese companies.
    The spokesman added CNOOC was ready to enter into contracts
for offshore blocks before third round bidding began. He did
not say when this would be, but added the contracts would not
be bound by restrictions imposed during the second round.
    China has signed 36 oil contracts and agreements with 37
companies from 10 countries since 1979, when offshore
exploration was open to foreigners. Eleven contracts were
terminated after no oil was discovered.
    Foreign firms have invested 2.1 billion dlrs on offshore
China since 1979.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8955" NEWID="4042">
<DATE>11-MAR-1987 22:42:47.98</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0046&#31;reute
b f BC-JAPAN-RELAXES-RULES-O   03-11 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN RELAXES RULES ON SECURITIES COMPANY OUTLETS</TITLE>
<DATELINE>    TOKYO, March 12 - </DATELINE><BODY>Japan has relaxed its limit on the
establishment of securities company outlets in order to service
a growing number of individual investors, the Finance Ministry
said.
    Japanese securities companies can now set up as many as 21
new outlets in the two years before March 31, 1989, against the
previous maximum of 13.
    The rules apply to outlets in department stores,
supermarkets and other locations convenient for individuals.
    Foreign securities firms are not affected by the ruling, it
said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8956" NEWID="4043">
<DATE>11-MAR-1987 22:56:45.09</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;f0048&#31;reute
u f BC-AMC-IMPOSES-HIRING-FR   03-11 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>AMC IMPOSES HIRING FREEZE DUE TO TAKEOVER BID</TITLE>
<DATELINE>    DETROIT, March 11 - </DATELINE><BODY>American Motors Corp &lt;AMO> management
has ordered a hiring freeze in view of Chrysler Corp's &lt;C> 1.5
billion dlr takeover bid, a spokesman for AMC said.
    Analysts said the merger is virtually certain to go ahead.
    American Motors directors met for five hours Wednesday to
review the takeover proposal. "The board ... Expects to be
meeting periodically over the next several weeks on the
Chrysler proposal," AMC said in its first formal statement since
it acknowledged the Chrysler proposal on Monday.
    Chrysler, the number three U.S. Automaker, has said the
merger is motivated principally by its desire to acquire AMC's
profitable Jeep business and dealers, as well as a new modern
car assembly plant in Bramalea, Ontario.
    That means a guaranteed future for much of AMC, but it
leaves in question the fate of many of its 19,000-plus
employees, according to industry analysts. AMC's Toledo, Ohio
Jeep plant has 1,850 hourly workers on indefinite layoff while
its Kenosha, Wisconsin, car plant has another 2,250 on layoff.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8957" NEWID="4044">
<DATE>11-MAR-1987 22:57:31.32</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0050&#31;reute
u f BC-ROTHMANS-CLOSE-TO-JOI   03-11 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>ROTHMANS CLOSE TO JOINT VENTURE IN CHINA</TITLE>
<DATELINE>    PEKING, March 12 - </DATELINE><BODY>Rothmans International plc &lt;ROT.L> aims
to set up a joint venture with Jinan cigarette factory in
Shandong, China to produce high quality cigarettes, some for
export, Chinese newspapers said.
    The China Daily said the factory has produced high-quality
"General" brand cigarettes using advanced machinery and technical
assistance worth 2.5 mln dlrs donated by Rothmans under a
co-operation agreement signed in 1985.
    The Economic Daily newspaper said the high quality "General"
will help China's cigarettes enter the international market.
The two papers gave no more details.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8958" NEWID="4045">
<DATE>11-MAR-1987 23:00:56.20</DATE>
<TOPICS><D>bop</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0052&#31;reute
u f BC-FOREIGN-INVESTMENT-IN   03-11 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>FOREIGN INVESTMENT IN AUSTRALIA JUMPS IN LAST QTR</TITLE>
<DATELINE>    CANBERRA, March 12 - </DATELINE><BODY>The net inflow of foreign investment
into Australia jumped to 7.3 billion dlrs in the fourth quarter
of 1986 from 4.32 billion in the third quarter and 4.55 billion
a year earlier, the Statistics Bureau said.
    The Bureau attributed the increase to a turnaround of 2.08
billion dlrs in official sector transactions and a 1.09 billion
turnaround in direct investment.
    The turnaround in official transactions to a 1.52 billion
inflow from a 555 mln outflow in the third quarter, against a
520 mln inflow a year earlier, was largely on account of
government foreign currency borrowings, it said.
    Direct investment recorded a turnaround to a 1.04 billion
dlr inflow in the fourth quarter from a 57 mln withdrawal in
the third quarter, against a 546 mln inflow in the fourth
quarter of 1985, the Bureau said.
    It said the major part of the turnaround reflected an
injection of funds, estimated at around 700 mln dlrs,
associated with the previously reported restructuring of the
Australian operations of General Motors Corp &lt;GM>.
    GM used the funds to pay out or take over certain
Australian liabilities of its local unit &lt;General
Motors-Holden's Ltd>, it said.
    However, net borrowings remained the major part of total
inflow, accounting for 6.16 billion dlrs in the fourth quarter
against 3.88 billion in the third quarter and 4.03 billion a
year earlier, the Bureau said.
    Net official borrowings comprised 1.52 billion dlrs against
a net outflow of 548 mln in the third quarter and a 516 mln
inflow a year earlier.
    Total private and semi-public authority net borrowings rose
to 4.64 billion dlrs from 4.42 billion in the third quarter and
3.51 billion a year earlier.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8959" NEWID="4046">
<DATE>11-MAR-1987 23:06:27.89</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0055&#31;reute
u f BC-MOSCOW-CARRIES-OUT-NU   03-11 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>MOSCOW CARRIES OUT NUCLEAR TEST</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>The Soviet Union carried out a nuclear
test early today, the official Tass news agency reported.
    According to the report, monitored by the British
Broadcasting Corporation, the explosion was at 0200 gmt.
    A blast on February 26 ended a 19-month unilateral test
moratorium declared by the Soviet Union. Moscow blamed the end
of the freeze on U.S. Refusal to join a total test ban.
    Tass said the latest explosion, with a power of up to 20
kilotonnes, had "the aim of improving military equipment."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8960" NEWID="4047">
<DATE>11-MAR-1987 23:06:44.14</DATE>
<TOPICS><D>grain</D><D>corn</D></TOPICS>
<PLACES><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f0058&#31;reute
u f BC-TAIWAN'S-FIRST-QUARTE   03-11 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN'S FIRST QUARTER MAIZE IMPORTS SEEN RISING</TITLE>
<DATELINE>    TAIPEI, March 12 - </DATELINE><BODY>Taiwan's maize import commitments are
expected to rise to 970,000 tonnes in the first four months of
1987 from 870,000 tonnes a year earlier, a spokesman for the
Joint Committee of Maize Importers told Reuters.
    He said more than 75 pct of the imports come from the U.S.
And the rest from South Africa.
    The maize import target for calendar 1987 is set at well
over 3.4 mln tonnes compared with an actual 3.07 mln in 1985,
he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8961" NEWID="4048">
<DATE>11-MAR-1987 23:46:55.84</DATE>
<TOPICS><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;f0077&#31;reute
u f BC-TAIWAN-FURTHER-RELAXE   03-11 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN FURTHER RELAXES FOREIGN GOODS IMPORT CURBS</TITLE>
<DATELINE>    TAIPEI, March 12 - </DATELINE><BODY>Taiwan said it would soon relax import
controls on some 400 foreign items, including stationery and
books, in a further effort to allow trading partners,
especially the U.S., Greater access to its markets.
    Taiwan announced the easing of import curbs on some 600
farm and industrial products last month, a Council for Economic
Planning and Development spokesman told Reuters.
    He said the new move was intended to balance trade between
Taiwan and its trading partners. The island's trade surplus
reached a record 15.6 billion U.S. Dlrs last year, up from
10.62 billion in 1985.
    In January, Taiwan cut import tariffs on some 1,700 foreign
products and allowed imports of U.S. Wine, beer and cigarettes.
    "We hope the measures will help reduce our trade surplus
this year, especially with that of the U.S.," the spokesman
said.
    Washington is pressing Taiwan to open its markets wider as
a way of cutting its trade deficit with the island, which rose
to 2.35 billion U.S. Dlrs in the first two months of 1987 from
1.87 billion in the year-earlier period.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8962" NEWID="4049">
<DATE>12-MAR-1987 00:06:25.87</DATE>
<TOPICS><D>ship</D><D>iron-steel</D></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;f0081&#31;reute
u f BC-ECONOMIC-SPOTLIGHT--   03-12 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>ECONOMIC SPOTLIGHT - MITSUBISHI HEAVY FIGHTS BACK</TITLE>
<AUTHOR>    By Fumiko Fujisaki, Reuters</AUTHOR>
<DATELINE>    TOKYO, March 12 - </DATELINE><BODY>International efforts to redirect Japan's
export-driven economy toward domestic consumption face heavy
going if the country's largest defence contractor and world's
biggest shipbuilder is anything to go by.
    Mitsubishi Heavy Industries Ltd &lt;MITH.T> (MHI), which began
making ships and iron goods for Japan's military rulers 130
years ago, is responding to the strong yen by redoubling its
efforts to maintain its share of export markets.
    "If we sell the best quality and the cheapest products,
everyone will buy them," MHI president Yotaro Iida said.
    Although two of MHI's main businesses, shipbuilding and
power plant construction, have been hit hard by the yen's 40
pct rise against the dollar, the company has no plans to
abandon them, Iida told Reuters in an interview.
    Its other big activity, aircraft component manufacture, has
performed so well that MHI now accounts for half of the money
Tokyo spends on defence procurement each year.
    "We have made the utmost efforts among the world's
manufacturers to improve productivity," he said. "You may be
surprised if you come to see our plants. The outside is old but
the inside is ultra-modern, with robots and computers."
    Securities analysts at major securities houses agreed that
MHI has pared costs more quickly than its competitors. The
company has slashed its workforce to 47,000 from 86,000 in
1976.
    Despite its cost-cutting, MHI expects profits to drop 40
pct to 30 billion yen in the current fiscal year ending March
31, from 1985/86's record 50.14 billion.
    And that includes gains from the sale of MHI's stake in
Mitsubishi Motors Corp &lt;MIMT.T> for 49 billion yen.
    Iida is optimistic about the future, however. He said a
resurgence of demand from the Middle East following the recent
recovery in oil prices coupled with persistent demand for power
plants in developing countries will help MHI restore its
exports-to-sales ratio to the past decade's average of 30 pct.
    MHI's exports-to-sales ratio fell to 25.9 pct in the
half-year ended last September, from 35 to 36 pct five years
ago.
    China is the most promising market, although MHI also
considers other non-oil-producing developing countries as major
customers.
    "Our customers are all seen as being in trouble due to a
lack of foreign currency," Iida said. But he added that he felt
MHI could sell to those markets with Japanese government
financial support.
    It can also finance the plants itself and recover its
investment through product sales, a strategy Iida said could
prove popular in the future.
    In shipping, MHI is fighting back against low-priced South
Korean competition by building more technologically advanced
carriers to carry liquefied natural gas and other products
difficult to transport.
    Shipbuilders Association officials told Reuters MHI is the
world's largest shipbuilder in terms of orders and capacity.
    Domestically, MHI is involved in 12 national projects,
including development of nuclear fusion reactors and launch
vehicles for man-made satellites.
    It has been the biggest contractor for the Japan Defence
Agency's F-15 and F-14 jet fighters and missiles, although all
of these have been built under licence from U.S. Firms.
    MHI is now heading up five Japanese companies seeking to
develop the country's own fighter plane to replace the
currently used F-1 support fighters in the late 1990s.
    Military experts said Washington is putting strong pressure
on Tokyo to buy a U.S. Plane, either the McDonnell Douglas Corp
F-18 or General Dynamics Corp F-16, to reduce Japan's huge
trade surplus with the U.S.
    "It might be a good idea to jointly produce planes with U.S.
Makers as Japan is supported by the U.S. Defence umbrella," Iida
said.
    MHI also plans to cooperate with the U.S. In its Strategic
Defence Initiative space defence program by participating in
the project when it moves from the research stage, he said.
    The U.S. Has been seeking Japan's technological support.
    In fiscal 1985/86, aircraft accounted for 17.1 pct of MHI's
sales, shipbuilding 17 pct and power plants 27.9 pct. Iida said
the ideal ratio is power plants 30 pct, aircraft and special
vehicles 25 pct and shipbuilding 15 pct.
    As for the remaining 30 pct, Iida said he wanted to shift
the domestic focus away from heavy machinery sold to
manufacturers and towards household goods, but he declined to
specify which products.
    "By the end of this year, you may find our brand name on
your daily products, although this does not mean we will run
away from our mainstream business," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8963" NEWID="4050">
<DATE>12-MAR-1987 00:37:11.96</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0096&#31;reute
u f BC-JAPANESE-BANKRUPTCIES   03-12 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPANESE BANKRUPTCIES DECLINE IN FEBRUARY</TITLE>
<DATELINE>    TOKYO, March 12 - </DATELINE><BODY>Japan's corporate bankruptcies in
February fell 10.8 pct from January to 1,071 cases and total
debts dropped 49.4 pct to 149.40 billion yen, the Tokyo
Commerce and Industry Research Co said.
    February bankruptcies fell 14.9 pct from a year earlier,
the 26th straight monthly decline, and debts fell 54.3 pct.
    The lower number of bankruptcies in February reflected a
relaxation of money market conditions and reduced bill
settlements due to fewer operating days, it said.
    Bankruptcies caused by the strength of the yen against the
dollar totalled 69, or 6.4 pct of those in February, with debts
of 25.52 billion yen, the research firm said.
    This compared with 64 with debts of 125.59 billion yen in
January, it said.
    Currency-linked bankruptcies since November 1985, when the
dollar's depreciation against the yen began to affect Japanese
export-linked firms, totalled 772, with cumulative debts of
660.53 billion yen, it said.
    The value of the yen against the dollar rose to an average
153.49 yen per dollar in February from 184.62 a year earlier.
    Bankruptcies usually decline in the first quarter of the
year due to fewer operating days and for seasonal reasons.
    Bankruptcies are expected to increase in the quarter
starting April 1 due to expectations of slow consumer spending,
low wage increases for the 1987/88 fiscal year which starts in
April, and slow capital spending by manufacturers, the company
said.
    Bankrupcties among export-linked subcontractors will rise
due to a recent shift by major manufacturers to overseas
production, it added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8964" NEWID="4051">
<DATE>12-MAR-1987 00:55:57.87</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>bangladesh</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f0108&#31;reute
u f BC-BANGLADESH-PORT-WORKE   03-12 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>BANGLADESH PORT WORKERS END STRIKE</TITLE>
<DATELINE>    CHITTAGONG, March 12 - </DATELINE><BODY>Cargo handling resumed at
Bangladesh's Chittagong port today after 7,000 workers ended
their three day walk-out triggered by a pay dispute, port
officials said.
    Loading and unloading of 14 ships stranded by the strike
started this morning and will be completed as quickly as
possible, they said.
    The strikers returned to work after an agreement was
reached last night between port authorities and the Port
Workers Association, they said without giving details.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8965" NEWID="4052">
<DATE>12-MAR-1987 01:01:34.13</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE><D>leigh-pemberton</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0111&#31;reute
u f BC-LEIGH-PEMBERTON-OPPOS   03-12 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>LEIGH-PEMBERTON OPPOSES TAKEOVER PROTECTION RULES</TITLE>
<DATELINE>   LONDON, March 11 - </DATELINE><BODY>The Bank of England does not favour the
introduction of rules to shield companies from hostile takeover
attempts, its governor, Robin Leigh-Pemberton, said.
    Instead, merchant banks advising bidding companies must
show restraint and responsibility to avoid the excesses that
have marred recent takeovers, he told the Yorkshire and
Humberside Regional Confederation of British Industries' annual
dinner.
    Leigh-Pemberton also called on companies to improve ties
with institutional investors, suggesting representatives of
those institutions be granted seats on the boards of directors
of companies they invest in.
    "Boards cannot expect protection from unwelcome predators,
for that is but a short step from saying that they should be
protected from their own shareholders -- who are, after all,
the proprietors of the company," Leigh-Pemberton said.
    He added takeovers and mergers had an important role to
play in furthering economies of scale, integration and more
efficient market penetration. "The degree of success or failure
(of a takeover) has not in my experience depended on whether or
not the takeover was contested," he said.
    Leigh-Pemberton noted there had been excesses in takeover
activity in the recent past. "The aim is to pressurise a
company's management into action dedicated solely to a
favourable impact on the share price in the short-term, partly
or even primarily at the expense of the future," he said.
    Such bids "often depend for their success on creating a
highly-charged and artificial situation in the share market,
and give rise to temptations, on both sides of the battle, to
engage in aggressive, even manipulative tactics that are
immensely damaging to the interest of the shareholders," he
said.
    In a clear reference recent events, he said "those in the
City who act for companies or individuals .. Must, I suggest,
be ready to accept a full measure of responsibility -- even if
it entails opprobrium -- for the transactions that may result."
    They "should exercise the most careful judgment at the
outset with respect to the clients for whom they act and the
activities contenplated. Those who sow wind cannot expect the
whirlwind to visit elsewhere," he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8966" NEWID="4053">
<DATE>12-MAR-1987 01:26:07.06</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0117&#31;reute
f f BC-Tokyo-stock-index-ris   03-12 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Tokyo stock index rises 157.20 to third straight record close of 21,470.20
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8967" NEWID="4054">
<DATE>12-MAR-1987 01:45:37.55</DATE>
<TOPICS><D>pet-chem</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0125&#31;reute
u f BC-TONEN-SEKIYU-AND-EXXO   03-12 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>TONEN SEKIYU AND EXXON UNIT STUDYING RESIN PROJECT</TITLE>
<DATELINE>    TOKYO, March 12 - </DATELINE><BODY>&lt;Tonen Sekiyukagaku KK> and &lt;Exxon
Chemical Co>, a petrochemical division of Exxon Corp &lt;XON>,
said they agreed to accelerate a study to set up an
equally-owned joint venture to make waterwhite resin in Japan.
    Details of the venture, to be based on Exxon Chemical
technology, will be set later, the companies said.
    Waterwhite resins are widely used in adhesive applications
for baby nappies, medical tapes, and other bonding agents.
    Tonen is a wholly-owned subsidiary of Toa Nenryo Kogyo KK
&lt;TNEN.T> which is owned 25 pct by Exxon Corp.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8968" NEWID="4055">
<DATE>12-MAR-1987 02:20:30.27</DATE>
<TOPICS><D>acq</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;f0138&#31;reute
b f BC-JAPANESE-PURCHASE-OF   03-12 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPANESE PURCHASE OF U.S. HIGH-TECH FIRM OPPOSED</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>Commerce Secretary Malcolm Baldrige
has asked the White House to consider blocking the planned
Japanese acquisition of a major U.S. Computer and semiconductor
maker, U.S. Officials said yesterday.
    The officials told reporters Baldrige had serious concerns
on national security grounds about the sale of Schlumberger Ltd
&lt;SLB> unit &lt;Fairchild Semiconductor Inc> to Fujitsu Ltd
&lt;ITSU.T>. The officials said the sale could leave the United
States overly dependent on a foreign company for equipment used
in advanced missiles, aircraft electronics and intelligence
gathering.
    The U.S. Officials added the sale would also worsen the
strained relations between the two countries stemming from the
huge Japanese trade surplus.
    The White House Economic Policy Council would consider the
sale in the coming weeks, they said.
    Defence Secretary Caspar Weinberger's position was not
known, but in the past, he has opposed the transfer of high
technology to foreign governments or companies.
    Computers made by U.S. Manufacturers are widely used in the
world, but Tokyo told U.S. Negotiators recently it prefers
local manufacturers and would not buy U.S. Supercomputers.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8969" NEWID="4056">
<DATE>12-MAR-1987 02:53:25.14</DATE>
<TOPICS><D>cotton</D></TOPICS>
<PLACES><D>south-korea</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f0166&#31;reute
u f BC-S.KOREA-TO-BUY-MORE-C   03-12 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>S.KOREA TO BUY MORE COTTON, ESPECIALLY U.S. COTTON</TITLE>
<DATELINE>    SEOUL, March 12 - </DATELINE><BODY>South Korea plans to import about 387,000
tonnes of cotton this year compared to 225,000 tonnes in 1986,
trade ministry officials said.
    More than three quarters of the total, some 290,000 tonnes,
will come from the United States. That will be a 93.7 pct
increase on 1986 when U.S. Imports totalled 150,000 tonnes, an
official said.
    He said the U.S. Increase is due partly to the
competitiveness of American cotton and partly to efforts by
Seoul to reduce its trade surplus with Washington. South Korea
is the second largest importer of U.S. Cotton after Japan.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8970" NEWID="4057">
<DATE>12-MAR-1987 02:55:47.22</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f0169&#31;reute
u f BC-AWB-SAYS-AUSTRALIAN-W   03-12 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>AWB SAYS AUSTRALIAN WHEAT SALES OVER 10 MLN TONNES</TITLE>
<DATELINE>    MELBOURNE, March 12 - </DATELINE><BODY>The Australian Wheat Board's (AWB)
1986/87 export program is well advanced with over 10 mln tonnes
already sold, AWB general manager Ron Paice said.
    "We are certainly within reach of our 15 mln tonne export
target for the year," he said in a statement.
    He did not detail the commitments already made, but an AWB
spokesman said they include sales to Egypt, China, Iran, the
Soviet Union and Iraq.
    In the 1985/86 wheat year ended September 30, the AWB
exported a record 15.96 mln tonnes.
    Paice also said the 1986/87 Australian wheat harvest has
ended after a long, cool summer with 15.14 mln tonnes delivered
to the AWB.
    The season produced another good crop, with only 0.2 pct of
receivals being downgraded to feed quality, he said.
    However, it is likely that some weather-damaged grain was
still being held on farms and further milling and feed wheat
may be delivered following the recent announcement of the final
Guaranteed Minimum Price for 1986/87, he said.
    Paice did not give a crop estimate, but the AWB's February
Wheat Australia publication put the crop at 16.7 mln tonnes.
    But the AWB spokesman said it is likely this estimate could
turn out to be too high, based on the receivals level, and the
final crop figure would probably be nearer to 16.2 mln tonnes.
The official estimate is not yet available.
    In the 1985/86 season, the AWB received 15.08 mln tonnes of
the 16.13 mln tonne crop.
    Another 422,000 tonnes was retained on-farm and 620,000
sold under the permit system introduced in 1984/85 to allow
farmers to sell feed wheat to the grain trade outside the AWB's
receival system, according to Bureau of Agricultural Economics
data.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8971" NEWID="4058">
<DATE>12-MAR-1987 03:05:34.83</DATE>
<TOPICS><D>acq</D><D>gold</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0179&#31;reute
u f BC-NORTH-BH-SETS-ONE-FOR   03-12 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>NORTH BH SETS ONE-FOR-FIVE OFFER FOR NORGOLD FLOAT</TITLE>
<DATELINE>    MELBOURNE, March 12 - </DATELINE><BODY>North Broken Hill Holdings Ltd
&lt;NBHA.ME> (NBH) said it will offer one &lt;Norgold Ltd> share for
every five NBH shares in the float of its newly created gold
offshoot.
    The 20 cent par-value shares will be offered at 22 cents to
shareholders registered April 3, NBH said in a statement.
    Norgold's issued capital will be 240.5 mln shares, of which
63 pct will be held by NBH after 89 mln are issued to
shareholders to raise 19.6 mln dlrs, it said.
    Norgold will take control of a portfolio of precious metal
exploration and pre-development interests held by NBH.
    The major gold deposit to be acquired by Norgold is 100 pct
of the Bottle Creek deposit, west of Leonora in Western
Australia, NBH said.
    Production of gold from the project, at an annual rate of
35,000 ounces, is scheduled to begin early in 1988.
    Norgold will also have a 10 pct stake in the Coronation
Hill gold/platinum project in the Northern Territory and 43 pct
of the Poona copper/gold project in South Australia.
    Other gold exploration interests to be acquired by Norgold
are in Western Australia, Queensland, New South Wales and
Tasmania, NBH said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8972" NEWID="4059">
<DATE>12-MAR-1987 03:13:36.35</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>tse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0193&#31;reute
u f BC-CONVERTIBLE-YEN-BOND   03-12 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>CONVERTIBLE YEN BOND BROKERAGE FEE MAY BE CUT</TITLE>
<DATELINE>    TOKYO, March 12 - </DATELINE><BODY>The Tokyo Stock Exchange said in a
statement it is considering reducing brokerage fees on yen
convertible bonds.
    The cut would be in response to a planned increase in
securities transaction tax to 26 yen per 10,000 yen from 4.5 as
part of the government's proposed tax reform bills, securities
house managers said.
    Under the current system, investors must also pay 0.6 pct
of face value as brokerage fee to securities houses for
transactions involving principal over 30 mln yen.
    The exchange's draft revision sets brokerage fee percentage
rates in inverse proportion to the size of amounts transacted,
market sources said.
    Details of rates on transactions under 30 mln yen have yet
to be worked out, an exchange spokesman said.
    The news had little immediate impact on the convertible
bond market because participants are unsure when the new rates
will be introduced and because the timing of parliamentary
approval of the tax reform bills is uncertain due to opposition
to them, securities dealers said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8973" NEWID="4060">
<DATE>12-MAR-1987 03:15:32.57</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0199&#31;reute
u f BC-JAPAN'S-OVERSEAS-OUTP   03-12 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN'S OVERSEAS OUTPUT FORECAST TO RISE 26 PCT</TITLE>
<DATELINE>    TOKYO, March 12 - </DATELINE><BODY>The overseas production in yen terms of
Japanese firms should rise 26 pct in 1987/88 ending March after
a four pct fall in 1986/87, a Ministry of International Trade
and Industry survey said.
    It attributed the rise to companies moving production
overseas to avoid losses due to the strong yen. The survey
covered 122 major firms in 17 sectors.
    The survey called for bold moves to stimulate domestic
demand to achieve the government's goal of 3.5 pct gross
national product growth in 1987/88. A package of economic
measures to boost the economy is expected next month.
    The survey said Japanese car output in the United States
and Canada would jump to two mln vehicles in fiscal 1990 from
617,000 in 1986 and worldwide electronic appliance output would
rise 31.7 pct. Domestic unemployment is likely to reach four
pct, or about 2.5 mln jobless, in fiscal 1990 from three pct
now if current trends continue.
    Recruitment in the car industry is expected to fall by 35
pct in 1987/88 and by 40 pct in the electronics sector.
    The steel industry plans to cut its 150,000 workforce by 27
pct by the end of 1990/91 and the shipbuilding, coal and
non-ferrous metal industries all plan big cuts in 1987/88.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8974" NEWID="4061">
<DATE>12-MAR-1987 03:24:08.77</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0205&#31;reute
u f BC-STRIKING-BRAZIL-SEAME   03-12 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>STRIKING BRAZIL SEAMEN THREATEN MASS RESIGNATION</TITLE>
<AUTHOR>    By Stephen Powell, Reuters</AUTHOR>
<DATELINE>    SANTOS, Brazil, March 12 - </DATELINE><BODY>Striking seamen said they would
offer their collective resignation rather than end their
13-day-old national strike on management's terms.
    The seamen said they were spurred to their decision after
marines occupied the ship Docemarte in Santos harbour Tuesday
night. They said seamen on the vessel were being forced to work
under duress.
    President Jose Sarney's government despatched troops to
Brazil's ports and oil installations on Tuesday.
    Seamen in Santos, Brazil's main port, are in defiant mood.
One of their leaders, Orlando dos Santos, told Reuters that
most of the 1,100 seamen in the port offered their resignations
on Wednesday. The national strike headquarters in Rio de
Janeiro said seamen were offering to resign in all the
country's main ports.
    The strike by 40,000 seamen comes as Brazil faces a serious
debt crisis brought on by a sharp deterioration in its trade
balance. The country needs all the foreign exchange it can get,
and shipowners have been quick to denounce seamen for the harm
the strike is doing to exports.
    An advertisement placed in the newspapers by the Shipowners
Association read, "The seamen's strike is illegal, irrational
and unpatriotic."
    The seamen respond that they cannot live on their present
salaries. According to officical pay lists available in the
union's office, the basic pay for ordinary seamen is 1,977
cruzados a month, while various allowances can bring their
total pay up to 4,000 cruzados a month.
    At the other end of the scale, captains earn 7,993 cruzados
a month basic pay, which is brought up to 15,229 cruzados with
allowances. 
    "Brazil's seamen are the second worst paid in the world,
after Ghana's," dos Santos said. He said the seamen had not
received a pay increase since February 1986, and prices have
doubled since then with the collapse of the government's
Cruzado Plan price freeze.
    Talks in Rio de Janeiro Wednesday involving Labour Minister
Almir Pazzionotto, seamen and employers failed to resolve the
dispute. The seamen are demanding pay raises of about 200 pct
but have been offered less than half that.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8975" NEWID="4062">
<DATE>12-MAR-1987 03:29:02.58</DATE>
<TOPICS><D>reserves</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0214&#31;reute
f f BC-******   03-12 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE> German net currency reserves rise 400 mln marks to 87.0 billion - Bundesbank
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8976" NEWID="4063">
<DATE>12-MAR-1987 03:33:11.39</DATE>
<TOPICS><D>coffee</D></TOPICS>
<PLACES><D>indonesia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T C
&#22;&#22;&#1;f0220&#31;reute
b f BC-INDONESIAN-COFFEE-PRO   03-12 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>INDONESIAN COFFEE PRODUCTION MAY FALL THIS YEAR</TITLE>
<DATELINE>    JAKARTA, March 12 - </DATELINE><BODY>Indonesia's coffee production in
1986/87 ending September 30 may fall slightly from last year's
level of 360,000 tonnes, Dharyono Kertosastro, chairman of the
Association of Indonesian Coffee Exporters told Reuters.
    He said shade trees had been damaged by pests and this may
have affected the crop, though it remains to be seen how
seriously. Indonesia's main crop is harvested next month.
    He gave no figure for expected output, except to say it
would probably be down a little from 1985/86. He said stocks
were about normal at 90,000 tonnes.
    Kertosastro predicted that exports were unlikely to rise
much from last year's level of 320,000 tonnes. "I expect exports
will be a bit more, maybe 330,000 tonnes, but not above that,"
he said. Exports in 1985/86 were valued at 944 mln U.S. Dlrs,
but the value could fall by 30 pct this year because of low
prices, he added.
    Dharyono said production was behind a five year plan target
of 420,000 tonnes for the current year, but Indonesia is trying
to boost output through introduction of higher yielding seeds,
better training for farmers and increased use of fertilizers.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8977" NEWID="4064">
<DATE>12-MAR-1987 03:35:55.06</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>new-zealand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0224&#31;reute
b f BC-RENOUF-SELLS-10.83-PC   03-12 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>RENOUF SELLS 10.83 PCT NZI STAKE TO BRIERLEY</TITLE>
<DATELINE>    WELLINGTON, March 12 - </DATELINE><BODY>&lt;Renouf Corp Ltd> said it sold its
10.83 pct stake in &lt;NZI Corp Ltd> to &lt;Brierley Investments
Ltd>, (BIL), for 207.7 mln N.Z. Dlrs.
    Renouf managing director Mike Cashin said in a statement it
had been Renouf's intention to build up a long-term strategic
position in NZI. "But it became clear to us that it was in the
best interests of both NZI and ourselves for Brierley
Investments to acquire our holding," he said.
    He said Renouf built up its NZI holding over the past six
months. The sale comprised 74.9 mln shares at 2.725 N.Z. Dlrs a
share and 2,095 warrants at 1,709 dlrs each.
    The warrants are attached to a 150 mln Swiss franc note
issue. Each bond of 5,000 francs carries a detachable warrant
entitling the bearer to 2,486 NZI shares.
    In its 1986 annual report BIL reported that it held a 19
pct stake in NZI.
    NZI has 673.4 mln ordinary shares on issue. Total capital
including shares attached to warrants is 678.8 mln shares.
    Cashin said the sale will result in a significant profit
and places Renouf in a good position to consolidate on recent
transactions and pursue other opportunities.
    NZI shares were at 2.18 N.Z. Dlrs, BIL at 4.08 and Renouf
at 6.15 at the close of trading.
    BIL executives were unavailable for comment.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8978" NEWID="4065">
<DATE>12-MAR-1987 03:41:22.87</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>sweden</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0234&#31;reute
u f BC-BOLIDEN--AB-&lt;BLDS-ST>   03-12 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>BOLIDEN  AB &lt;BLDS ST> 1986 RESULTS</TITLE>
<DATELINE>    STOCKHOLM, Mar 12 -
    </DATELINE><BODY>Group loss after financial income and expenses 1.08
    Billion vs loss 71 mln crowns
    Sales - 12.38 billion crowns vs 6.16 billion.
    No proposed dividend vs 10 crowns.
    Note - The company this year consolidated wholesale and
investment conglomerate Ahlsell AB.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8979" NEWID="4066">
<DATE>12-MAR-1987 03:43:21.65</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f0237&#31;reute
r f BC-BRITAIN-TO-MINT-NEW-"   03-12 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>BRITAIN TO MINT NEW "BRITANNIA" GOLD COIN</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>Britain will from next autumn mint and
market a new bullion coin called the "Britannia" containing one
ounce of 24 carat gold, together with bullion coins of smaller
denominations, a Treasury official said.
    The new investment coin, to be sold worldwide, will
fluctuate in price according to the international price of
gold.
    The smaller coins will be in denominations of a half ounce,
a quarter ounce and a tenth of an ounce. REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8980" NEWID="4067">
<DATE>12-MAR-1987 03:46:15.91</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>saudi-arabia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0242&#31;reute
r f BC-SAUDI-BANKS-FACE-FURT   03-12 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>SAUDI BANKS FACE FURTHER LEAN PERIOD</TITLE>
<AUTHOR>    By Stephen Jukes, Reuters</AUTHOR>
<DATELINE>    RIYADH, March 12 - </DATELINE><BODY>Saudi Arabia's 11 commercial banks are
reporting a further decline in profits for 1986 as increasing
provisions have to be set aside to cover the burden of non-
performing loans.
    Bankers in the Saudi capital said the need to build
reserves for bad and doubtful debts may start to decline a
little this year.
    But the kingdom's still sluggish economy and legal problems
hampering traditional lending operations mean earnings will
remain vulnerable.
    One senior bank credit officer said "The work is largely
done in terms of identifying bad loans and making provisions,
but banks are still going to face difficulties earning money."
    The sudden decline of Saudi Arabia's corporate sector in
1983 - culminating in a number of debt reschedulings - has
taken a heavy toll of bank profits, with first results now
appearing for 1986 showing a fourth successive year of broad
decline.
    The cumulative net 1985 earnings of the kingdom's banks had
sunk to 827.9 mln riyals from 2.66 billion in 1982 before world
oil prices tumbled.
    Of the kingdom's nine joint-venture banks which operate on
the Gregorian calendar year, four have already reported and
revealed a further profits decline - or net loss - for 1986 at
the expense of increased provisions.
    The newest and smallest of the joint ventures, &lt;United Saudi
Commercial Bank> (USCB) reported a 1986 net loss of 15.9 mln
riyals, marginally less than 1985's shortfall of 17.0 mln.
    Profits before provisions were sharply higher, in part
reflecting an 18 pct staff cut last year. But the bank nearly
trebled the amount set aside against bad and doubtful loans to
60 mln riyals from 22 mln in 1985.
    Other results released so far show &lt;Saudi American Bank>
(SAMBA) reporting a 53.8 pct fall in 1986 net profit to 80.7
mln riyals, while &lt;Al Bank Al Saudi Al Fransi>, known as Saudi
French, slid 14 pct to 94.9 mln riyals.
    Both Saudi American, owned 40 pct by Citicorp's &lt;CCI.N>
Citibank NA and Saudi French, 40 pct owned by Banque Indosuez,
increased provisions sharply.
    &lt;Arab National Bank>'s net profit fell 17.8 pct to 152.1
mln riyals and provisions were more than doubled to 86.6 mln
riyals.
    Bankers said there are first signs that the number of non-
performing loans has stopped growing as the decline in the
Saudi economy bottoms out.
    Few are willing to predict a sharp upturn in economic
activity, but one banker said "The top 50 pct of the Saudi banks
are now at or close to international levels on provisions."
    From 1982 to 1985, the kingdom's largest bank &lt;National
Commercial Bank> (NCB) stashed away 1.7 billion riyals in
provisions or 8.9 pct of its total loans and advances to the
private sector, bankers calculated.
    Between 1982 and 1985, &lt;Riyad Bank>, NCB's rival as the
second biggest of the two all-Saudi shareholding banks, had
covered 12.8 pct of its loans and advances. Both banks operate
on an Islamic year that does not coincide with the other nine.
    Although the Saudi Arabian Monetary Agency (SAMA) has been
tightening supervision, there is still no standardised rule for
declaring loans as non-performing.
    Bankers say this makes comparison of profit figures
difficult because some banks still book non-accruing interest
as revenue while others follow more conservative practices in
force in major world financial centres.
    Bankers generally said NCB, Riyad Bank and the
joint-ventures SAMBA, Saudi French and Arab National Bank rank
as the strongest earners.
    Other banks such as &lt;Saudi British Bank>, 40 pct owned by
the &lt;British Bank of the Middle East>, are disadvantaged by a
relatively low deposit base.
    Saudi British slashed 1985 profit 91 pct to just 9.1 mln
riyals and 1986 accounts due soon are expected to show another
low figure. But the bank has traditionally been one of the most
conservative in making provisions.
    Bankers said SAMA has proved it is not prepared to see a
Saudi bank go under and not only supported &lt;Saudi Cairo Bank>
after its troubled 1985 accounts came to light but also made
available cheap deposits to &lt;Saudi Investment Bank> and USCB.
    The banks can on-lend these to generate profit, but
generally banks are awash with liquidity since they are
unwilling to risk incurring fresh non-performing loans.
    And while banks in more liberal financial markets can
attempt to diversify away from traditional lending,
conservatism in Saudi banking has made it difficult to generate
fee income from new investment banking products.
    One banker said "Operating earnings in the Kingdom are not
good."
    Reflecting the caution in new lending, the amount of
advances is showing a declining trend, while the days when
banks had ample funds in interest-free current accounts to
invest are disappearing as Saudi customers seek a better return
on their money.
    In 1979, the ratio of interest-bearing accounts to current
accounts was 27 to 73 pct. Today, only about 40 pct of customer
funds are held on current account.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8981" NEWID="4068">
<DATE>12-MAR-1987 03:46:26.27</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0243&#31;reute
b f BC-JAPAN-TO-SELL-200-BIL   03-12 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN TO SELL 200 BILLION YEN IN BILLS, TRADERS</TITLE>
<DATELINE>    TOKYO, March 12 - </DATELINE><BODY>The Bank of Japan will sell tomorrow 200
billion yen of financing bills under a 50-day repurchase
agreement maturing on May 2, to help absorb a projected money
market surplus due largely to distribution of local allocation
tax ahead of the March 31 fiscal year-end, money traders said.
    The yield on the bills for sales to banks and securities
houses from money houses will be 3.9496 pct against the 3.9375
pct discount rate for two-month commercial bills and the
4.46/37 pct yield today on two-month certificates of deposit.
    The operation will put outstanding bill supply at about
1,500 billion yen.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8982" NEWID="4069">
<DATE>12-MAR-1987 03:50:55.44</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;f0248&#31;reute
u f BC-GUINNESS-CHALLENGES-5   03-12 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>GUINNESS CHALLENGES 5.2 MLN STG PAYMENT TO LAWYER</TITLE>
<DATELINE>    ST HELIER, Jersey, March 12 - </DATELINE><BODY>Guinness Plc &lt;GUIN.L> , the
brewing group, has challenged a 5.2 mln stg payment to a U.S.
Lawyer who says he organised its controversial takeover of
Scotch whisky maker &lt;The Distillers Co Plc>.
    But attorneys for lawyer Thomas Ward, a member of the
Guinness board, told a court yesterday in the Channel Island of
Jersey that Ward saw the payment as his reward for services in
last year's 2.7 billion stg takeover.
    Britain's Department of Trade and Industry is investigating
the takeover.
    Guinness says its former chairman Ernest Saunders and Ward
"breached their fiduciary duty" in authorising the payment to
Ward, via a Jersey-based company, Marketing and Acquisitions
Consultants and has gone to the Jersey court to recover it.
    MAC said in defence documents that Ward was the main
negotiator in the battle for Distillers against rival bidder
Argyll &lt;AYLL.L> Group Plc.
    "The bid would not have been successful but for the ...
Services of Mr Ward," MAC attorneys said in the documents
submitted in court. "The payment was, in all the circumstances,
reasonable, proper and fully earned."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8983" NEWID="4070">
<DATE>12-MAR-1987 03:54:53.32</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0253&#31;reute
u f BC-NEW-U.K.-POLL-SAYS-TO   03-12 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW U.K. POLL SAYS TORIES HAVE SIX-POINT LEAD</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>Britain's ruling Conservatives have
moved into a six-point lead over the main opposition Labour
Party, a Marplan poll published in today's Guardian newspaper
reports.
    The Conservatives are shown with a 38 pct share of the vote
against 32 pct for Labour and 27 pct for the centrist
Social-Democratic/Liberal Alliance. Prime Minister Margaret
Thatcher has until June, 1988 to call a general election, but
most political analysts expect her to go to the country some
time this year.
  REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8984" NEWID="4071">
<DATE>12-MAR-1987 03:57:03.02</DATE>
<TOPICS><D>coffee</D></TOPICS>
<PLACES><D>indonesia</D><D>costa-rica</D><D>dominican-republic</D><D>honduras</D><D>ecuador</D><D>papua-new-guinea</D><D>peru</D><D>colombia</D><D>brazil</D><D>usa</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ico-coffee</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T C
&#22;&#22;&#1;f0257&#31;reute
u f BC-INDONESIA-PRESSING-FO   03-12 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>INDONESIA PRESSING FOR COMPROMISE OVER COFFEE</TITLE>
<AUTHOR>    By Jeremy Clift, Reuters</AUTHOR>
<DATELINE>    JAKARTA, March 12 - </DATELINE><BODY>Indonesian coffee exporters are
preparing for a period of depressed prices while urging their
government to lobby for a resolution of the deadlocked issue of
export quotas, the chairman of the Association of Indonesian
Coffee Exporters (AICE) told Reuters.
    Dharyono Kertosastro said in an interview that Indonesia,
the world's third largest producer, is trimming costs and
improving its marketing while seeking a compromise on quotas.
    "But as long as Brazil sticks to its hardline position, we
can never bridge the gap," Dharyono said.
    Indonesia was one of a group of eight producing countries,
along with Costa Rica, the Dominican Republic, Ecuador,
Honduras, India, Papua New Guinea and Peru, which proposed a
new quota system at last month's failed International Coffee
Organistion (ICO) talks in London.
    Brazil, which would have had its quota reduced under the
Group of Eight scheme, blocked the proposal.
    AICE officials are now hoping Colombia can use its contacts
with Brazil to suggest a compromise.
    Edward Muda, an AICE official who attended the ICO
negotiations, said Latin American members of the Group of Eight
were in contact with Colombia, the world's second largest
producer, but gave no details.
    "Colombia has shown interest because they will gain from a
compromise. Without one, they will suffer if the present market
stays like it is," Muda said.
    He said Indonesia was in contact with consumers such as the
U.S., Japan, the Netherlands, West Germany and Canada ahead of
an ICO executive board meeting scheduled for April 1.
    Dharyono said the AICE will send delegations to the U.S.
And Japan to brief Indonesian embassy officials there and press
them to present Indonesia's case more firmly.
    He urged the Indonesian government to do more to help the
country's coffee traders through the ICO negotiations.
    Muda said the Group of Eight had some common ground with
the big consumers because they agreed on the need for basing
quotas on what he termed "realistic criteria."
    The breakaway group believes the old quota system, which
gives Brazil a 30 pct share of the quota exports, does not
reflect up-to-date supply and demand trends.
    Brazil has stuck rigidly to its insistence that the old
system be applied.
    Export quotas were suspended in February 1986 when market
prices surged because of the failure of the Brazilian crop.
    Although prices have long since come down to a point where
export controls could be reintroduced, producers and consumers
at the 75-member ICO have not been able to agree on new
guidelines. Brazil and the U.S., The largest consumer, are both
refusing to alter their positions.
    Dharyono said if new quotas are not agreed he believed
Indonesia was well placed to survive low prices.
    Indonesian farmers are trimming production costs and the
AICE is improving its marketing system, Dharyono said.
    Indonesia's coffee output in 1986/87, ending September 30,
is expected to stagnate or fall slightly from last year's level
of 360,000 tonnes, he said.
    He said stocks, at 90,000 tonnes, were about average for
the time of year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8985" NEWID="4072">
<DATE>12-MAR-1987 03:58:55.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0262&#31;reute
b f BC-GENENTECH-CONVERTIBLE   03-12 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>GENENTECH CONVERTIBLE BOND UPPED TO 150 MLN DLRS</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>The convertible eurobond issue announced
yesterday for Genentech Inc &lt;GENE.O> has been increased to a
total of 150 mln dlrs from 100 mln, Credit Suisse First Boston
Ltd (CSFB) said as lead manager.
    The coupon has been set at five pct and conversion price at
74 dlrs per share which represents a 23.85 pct premium over
Genentech's stock closing level of 59.75 on the New York Stock
Exchange last night.
    Payment date has been brought forward to March 27 from
March 30 and the bonds will mature on March 27, 2002.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8986" NEWID="4073">
<DATE>12-MAR-1987 04:15:19.30</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0288&#31;reute
b f BC-HYDRO-QUEBEC-ISSUES-C   03-12 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>HYDRO QUEBEC ISSUES CANADIAN DLR BOND</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>Hydro Quebec is issuing a 125 mln
Canadian dlr bond due April 21, 1997 paying nine pct and priced
at 100-3/4 pct, lead manager Merrill Lynch International said.
    The bond is available in denominations of 1,000 and 5,000
dlrs and will be listed in Luxembourg.
    Fees comprise 1-1/4 pct selling concession and 3/8 pct each
for management and underwriting. Pay date is April 21.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8987" NEWID="4074">
<DATE>12-MAR-1987 04:21:57.20</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0294&#31;reute
u f BC-JAPANESE-CORPORATE-EA   03-12 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPANESE CORPORATE EARNINGS RECOVERY PREDICTED</TITLE>
<DATELINE>    TOKYO, March 12 - </DATELINE><BODY>Japanese corporate earnings will rise 8.9
pct in fiscal 1987/88 for the first year-on-year increase in
three years, partly because of the yen's stable exchange rate,
the Nomura research institute said.
    Sales of all industries are predicted to rise 1.9 pct in
the year, which starts April 1, the research arm of Nomura
Securities Co said in a statement.
    Recurrent profits were estimated to fall 20 pct in the
current fiscal year with sales forecast to drop 14 pct.
    The forecast assumes an average rate of 148.5 yen to the
dollar in 1987/88, compared with 160 yen in the current year.
    Corporate efforts to cope with the yen's appreciation, such
as cutting production costs, are expected to bear fruit next
fiscal year, the institute said. The economy should also
benefit from pump-priming expected from the government and a
halt in rising prices of manufactured goods, it said.
    Recurrent profits of manufacturing industries are projected
to rise 29.6 pct next fiscal year against an estimated 40.1 pct
fall in the current year.
    Non-manufacturing sector profits will decline 4.5 pct in
1987/88 against an estimated 2.2 pct rise in the current year,
it said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8988" NEWID="4075">
<DATE>12-MAR-1987 04:23:22.95</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>sweden</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0297&#31;reute
u f BC-BOLIDEN-SAYS-RESULTS   03-12 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>BOLIDEN SAYS RESULTS BURDENED BY LOSS WRITEOFF</TITLE>
<DATELINE>     STOCKHOLM, Mar 12 - </DATELINE><BODY>Swedish mining and metals group
Boliden AB &lt;BLDS ST> forecast a return to profitability during
1987 after recording a 1.08 billion crown 1986 loss burdened by
a massive write-off.
    The company, which consolidated the Swedish wholesale and
investment conglomerate &lt;Ahlsell AB> this year, said the result
included restructuring costs and write-offs of 802 mln crowns.
    "These costs have arisen as a results of a change of
direction for the group. They are mainly one-off but they have
burdened the annual accounts," the company said in a statement.
    Boliden said the company's liquid assets were 1.36 billion
crowns at year-end which together with an investment portfolio
of 1.60 billion made it one of the most liquid Swedish
companies.
    As a result of the 1986 losses, the board proposed
cancelling dividend for the year although it predicted a return
to profitability during 1987, the statement added.
    Swedish tyres, process equipment and components firm
&lt;Trelleborg AB> has taken a majority stake in Boliden since the
beginning of this year. Trelleborg then said it had no plans
for consolidating Boliden.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8989" NEWID="4076">
<DATE>12-MAR-1987 04:27:16.27</DATE>
<TOPICS><D>oilseed</D><D>soybean</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;f0299&#31;reute
u f BC-TAIWAN-BUYS-27,000-TO   03-12 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN BUYS 27,000 TONNES OF U.S. SOYBEANS</TITLE>
<DATELINE>    TAIPEI, March 12 - </DATELINE><BODY>The joint committee of Taiwan's soybean
importers awarded a contract to Richco Grain Ltd of New York to
supply a 27,000-tonne cargo of U.S. Soybeans, a committee
spokesman told Reuters.
    The shipment, priced at 210.34 U.S. Dlrs per tonne c and f
Taiwan, is set for delivery between March 20 and April 5, he
said.
    Taiwan's soybeans imports in calendar 1987 are targetted at
1.81 mln tonnes, against an actual 1.74 mln tonnes imported in
1986, he said.
    All the imports come from the U.S., He added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8990" NEWID="4077">
<DATE>12-MAR-1987 04:30:21.97</DATE>
<TOPICS><D>grain</D><D>wheat</D><D>sugar</D></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T G C
&#22;&#22;&#1;f0301&#31;reute
u f BC-CHINA-JANUARY-WHEAT/S   03-12 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA JANUARY WHEAT/SUGAR IMPORTS BELOW YEAR AGO</TITLE>
<DATELINE>    PEKING, March 12 - </DATELINE><BODY>China's wheat imports in January were
218,000 tonnes, down from 393,000 in January 1986, the China
Daily Business Weekly said, quoting customs figures.
    It said imports of sugar were 25,165 tonnes, down from
54,000, but exports of rice rose to 71,144 tonnes from 20,000.
It gave no more details.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8991" NEWID="4078">
<DATE>12-MAR-1987 04:31:00.79</DATE>
<TOPICS><D>bop</D><D>trade</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0303&#31;reute
u f BC-FRENCH-1986-CURRENT-A   03-12 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH 1986 CURRENT ACCOUNT SURPLUS REVISED</TITLE>
<DATELINE>    PARIS, March 12 - </DATELINE><BODY>The French 1986 current account balance
of payments surplus has been revised slightly upwards to 25.8
billion francs from the 25.4 billion franc figure announced
last month, the Finance Ministry said.
    This compares with a 1.5 billion deficit in 1985, and while
it is the first surplus since 1979, is substantially lower than
the 50 billion surplus forecast by the previous socialist
government before they lost office in March last year.
    Net long-term capital outflows rose sharply to 70.5 billion
francs last year from 8.8 billion in 1985, largely due to a
major program of foreign debt repayment, the ministry said.
    In the fourth quarter alone the unadjusted surplus rose to
14.1 billion francs from 6.6 billion the previous quarter, but
the adjusted surplus fell to 7.4 billion from 9.1 billion.
    Fourth quarter medium and long-term foreign debt repayments
exceeded new credits by 11 billion francs.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8992" NEWID="4079">
<DATE>12-MAR-1987 04:34:21.52</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0311&#31;reute
b f BC-SALOMON-RAISES-SIZE-O   03-12 0051</UNKNOWN>
<TEXT>&#2;
<TITLE>SALOMON RAISES SIZE OF CMO TO 350 MLN DLRS</TITLE>
<DATELINE>    London, March 12 - </DATELINE><BODY>Salomon Brothers international inc said
it has raised the size of its Collateralised Mortgage
Obligation TRUST 23 to 350 mln dlrs from the 228 mln dlrs
announced yesterday.
    All other terms of the issue remain the same, Salomon said.
  REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8993" NEWID="4080">
<DATE>12-MAR-1987 04:39:07.73</DATE>
<TOPICS><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;f0315&#31;reute
u f BC-MALAYSIA-OPTIMISTIC-O   03-12 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>MALAYSIA OPTIMISTIC OVER ECONOMIC OUTLOOK FOR 1987</TITLE>
<DATELINE>     KUALA LUMPUR, March 12 - </DATELINE><BODY>Malaysia's Central Bank, Bank
Negara, said the economic outlook for 1987 is good in view of a
marked improvement in commodity and oil prices in the later
months of last year.
    It said in its latest quarterly review that real gross
domestic product averaged an annual growth of 1.1 pct over the
first nine months of last year compared with a decline of 0.1
pct in the corresponding period in 1985.
    Growth was generated mainly by the manufacturing sector, it
added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8994" NEWID="4081">
<DATE>12-MAR-1987 04:57:54.22</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;f0345&#31;reute
b f BC-ROWNTREE-REPORTS-PRET   03-12 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>ROWNTREE REPORTS PRETAX PROFIT AT 84 MLN STG</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>Rowntree Mackintosh Plc &lt;RWNT.L>
announced it made a pretax profit of 84 mln stg in the 53 weeks
ending January 3, 1987, compared with 79.3 mln stg in the
previous year.
    Turnover was up to 1.29 billion stg from 1.2 billion. A
final dividend of 9.2p was proposed, after a final 8.2p last
year. Earnings per share rose to 35p from 34.8p.
    The results were broadly in line with market expectations,
leaving shares at 499p in early trading, up one pence from
yesterday's close, but slightly off pre-announcement opening
levels.
    Profit on ordinary activities after tax was 66.2 mln stg,
up from the previous year's 60.7 mln.
    The U.K. Remained Rowntree's largest centre for trading
profits, accounting for 47.9 mln stg, up from 45.3 mln in 1985.
Profit from its second largest geographical area, North
America, slipped to 34.7 mln stg from 37.2 mln. North American
profits were affected by the fall of the value of the dollar.
    Operations in continental Europe made 7.8 mln stg in
trading profit, up from 3.4 mln, with 4.0 mln stg made in
Australasia, up from 2.3 mln, and 11.3 mln stg from the rest of
the world, against 13.1 mln in the previous year.
    Extraordinary items amounted to a 11.3 mln debit after a
16.5 mln debit previously. A company spokesman said this
represented additional provisions for the cost of
rationalisation plans announced in earlier years.
    Rowntree expects North American operations will this year,
ahead of company expectations, be of the same order as those
from the U.K. And the rest of Europe combined, the statement
said. A spokesman said no specific figures had been forecast.
    Acquisitions will continue to be sought worldwide,
including further moves in the speciality retailing business
which Rowntree first entered in 1983, the statement said.
    Rising profit from Europe this year was forecast by
chairman Kenneth Dixon in a statement. He added the performance
of seven businesses bought last year was encouraging.
    The U.K. Confectionery side gained market share and
increased trading margins. The Sun-Pat British grocery concern
increased profit and Rowntree's small health food business,
Holgates, raised earnings 10-fold, the statement said.
    Offsetting factors included currency movements, which cost
the company nearly 5.0 mln stg. Sales tax hurt Canadian profits
on confectionery operations, and the company faced strong
competition in the U.K. Snack and Mid East export markets.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8995" NEWID="4082">
<DATE>12-MAR-1987 04:58:20.18</DATE>
<TOPICS></TOPICS>
<PLACES><D>new-zealand</D></PLACES>
<PEOPLE><D>douglas</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0347&#31;reute
u f BC-N.Z.-BUDGET-DEFICIT-W   03-12 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>N.Z. BUDGET DEFICIT WIDENS IN 10 MONTHS TO JANUARY</TITLE>
<DATELINE>    WELLINGTON, March 12 - </DATELINE><BODY>New Zealand's budget deficit in the
10 months to January widened to 4.37 billion N.Z. Dlrs from
3.41 billion in the 10 months to January 1986, government
figures show.
    Revenue rose to 12.92 billion dlrs from 10.82 billion,
while spending climbed to 17.28 billion from 14.24 billion.
    Taking into account expenditure on major energy project
debt totalling 2.28 billion, as against nothing in the earlier
period, total net expenditure was 19.57 billion dlrs.
    Finance Minister Roger Douglas said in a statement the
deficit was on course for the year-end forecast.
    Douglas said, "Net expenditure to this point in the year was
about as we would have expected it to be, while revenue was
slightly ahead of forecast."
    He said, "Revenue before provisional tax flows is looking
encouraging at this stage in the year."
    But he said considerable uncertainty remains about the
year-end revenue result, because of difficulty predicting the
size of March tax collections.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8996" NEWID="4083">
<DATE>12-MAR-1987 05:00:05.17</DATE>
<TOPICS><D>oilseed</D><D>rapeseed</D><D>soybean</D><D>sunseed</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0355&#31;reute
r f BC-RISE-SEEN-IN-FRENCH-R   03-12 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>RISE SEEN IN FRENCH RAPESEED, SOYBEAN SOWINGS</TITLE>
<DATELINE>    PARIS, March 12 - </DATELINE><BODY>France's Oilseed and Bean Cooperatives
Federation, FFCOP, said it expected French rapeseed sowings for
the 1987 harvest to rise by between 54.6 pct and 67.5 pct to
between 600,000 and 650,000 hectares from 388,000 planted last
year.
    Its latest estimates also suggested a 66.7 pct rise in
soybean sowings to 80,000 ha from 48,000 last year. Sunflower
sowings were expected to increase by between 8.6 pct and 14.6
pct from 829,000 ha. Pea sowings are estimated likely to rise
27.7 pct to 350,000 ha against 274,000, while field bean
sowings are forecast unchanged at 40,000.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8997" NEWID="4084">
<DATE>12-MAR-1987 05:00:31.24</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0357&#31;reute
u f BC-CHINA-TRADE-DEFICIT-F   03-12 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA TRADE DEFICIT FALLS IN JANUARY</TITLE>
<DATELINE>    PEKING, March 12 - </DATELINE><BODY>China's trade deficit in January fell to
310 mln dlrs from 460 mln in January 1986, the China Daily
Business Weekly said.
    Quoting customs figures, the paper said exports fell to
1.75 billion dlrs from 1.84 billion and imports fell to 2.06
billion from 2.3 billion.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8998" NEWID="4085">
<DATE>12-MAR-1987 05:01:23.96</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0360&#31;reute
b f BC-JACOBS-SUCHARD-AG-&lt;JA   03-12 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>JACOBS SUCHARD AG &lt;JACZ.Z> 1986 YEAR</TITLE>
<DATELINE>    ZURICH, March 12 -
    </DATELINE><BODY>Net 190.9 mln Swiss francs vs 150.4 mln
    Turnover 5.24 billion vs 5.38 billion
    Dividend 160 per bearer vs 155 francs, 32 francs per
registered vs 31 francs, 16 francs per participation
certificate vs 15.50 francs
    Cash flow 294.3 mln vs 242.6 mln
    Note - Confirms forecast of results issued in January.
    Operating profit 337.6 mln vs 265 mln
    Depreciation 103.4 mln, up 12.2 pct
    Capital spending 84.6 mln, down 15.7 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="8999" NEWID="4086">
<DATE>12-MAR-1987 05:02:18.64</DATE>
<TOPICS></TOPICS>
<PLACES><D>sweden</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0362&#31;reute
u f BC-ERICSSON-WINS-SECOND   03-12 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>ERICSSON WINS SECOND BUNDESPOST ORDER</TITLE>
<DATELINE>    STOCKHOLM, March 12 - </DATELINE><BODY>Sweden's Telefon AB L.M. Ericsson
&lt;ERIC ST> said one of its units won a contract worth 7.5 mln
dlrs from the West German PTT, taking the value of orders
signed with the Bundespost in the past few days to 47.5 mln
dlrs.
    The latest order for Ericsson Information Systems is for
2,000 Alfaskop computer terminals to be supplied over the
coming two years, the company said in a statement.
    On Tuesday the Ericsson subsidiary announced a 40 mln dlr
contract from the Bundespost to deliver personal computers and
related equipment.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9000" NEWID="4087">
<DATE>12-MAR-1987 05:03:42.43</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0367&#31;reute
f f BC-British-Telecom-third   03-12 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE> British Telecom third quarter pre-tax profit 506 mln stg vs 452 mln
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9001" NEWID="4088">
<DATE>12-MAR-1987 05:04:25.60</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;f0371&#31;reute
b f BC-BANK-OF-ENGLAND-OFFER   03-12 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF ENGLAND OFFERS EARLY HELP IN MONEY MARKET</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>The Bank of England said it had invited
the discount houses to make an early round of bill offers to
help offset a large liquidity shortage in the money market.
    It estimated the shortage at around 1.55 billion stg, one
adverse factor being the unwinding of a sale and repurchase
agreement, with the market having to buy back bills worth 542
mln stg from the Bank.
    Bills maturing in official hands and the treasury bill
take-up would drain 957 mln stg wile exchequer transactions and
a note circulation rise would take out 15 mln and 25 mln
respectively. Above target bankers' balances would add 10 mln.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9002" NEWID="4089">
<DATE>12-MAR-1987 05:11:36.01</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;f0379&#31;reute
b f BC-BRITISH-TELECOM-3RD-Q   03-12 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>BRITISH TELECOM 3RD QTR ENDED DEC 31</TITLE>
<DATELINE>    LONDON, March 12 -
    </DATELINE><BODY>Shr 5.1p vs 4.2p, making 15.3p vs 12.7p for nine months.
    Pre-tax profit 506 mln stg vs 452 mln, making 1.51 billion
stg vs 1.35 billion.
    Net profit before minorities 320 mln vs 268 mln, making 960
mln vs 807 mln.
    Note - Company's full name is British Telecommunications
Plc &lt;BTY.L>.
    Third quarter turnover 2.40 billion stg vs 2.11 billion,
making 7.01 billion vs 6.16 billion for nine months.
    Operating profit 578 mln vs 520 mln, making 1.72 billion vs
1.56 billion.
    Net interest payable 72 mln vs 68 mln, making 208 mln vs
203 mln.
    Tax 186 mln vs 184 mln, making 552 mln vs 547 mln.
    Minorities nil vs nil, making two mln vs nil.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9003" NEWID="4090">
<DATE>12-MAR-1987 05:21:27.38</DATE>
<TOPICS><D>money-fx</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;f0389&#31;reute
b f BC-U.K.-MONEY-MARKET-GIV   03-12 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. MONEY MARKET GIVEN EARLY ASSISTANCE</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>The Bank of England said it had bought
bills worth 1.059 billion stg from the market for resale on
March 31 at rates of interest between 10-7/16 pct and 10-17/32
pct.
    Earlier, the Bank said it estimated the liquidity shortage
in the market today at around 1.55 billion stg.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9004" NEWID="4091">
<DATE>12-MAR-1987 05:22:14.00</DATE>
<TOPICS><D>jobs</D></TOPICS>
<PLACES><D>denmark</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0391&#31;reute
r f BC-DANISH-UNEMPLOYMENT-R   03-12 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>DANISH UNEMPLOYMENT RISES TO 7.9 PCT IN JANUARY</TITLE>
<DATELINE>    COPENHAGEN, March 12 - </DATELINE><BODY>Denmark's seasonally adjusted
unemployment rate rose to 7.9 pct of the workforce in January
from 7.8 pct in December, unchanged from January 1986, the
National Statistics Office said.
    The total of unemployed in January was 216,200 against
212,200 in December and 216,600 in January 1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9005" NEWID="4092">
<DATE>12-MAR-1987 05:33:02.82</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;f0397&#31;reute
b f BC-ROWNTREE-MACKINTOSH-P   03-12 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>ROWNTREE MACKINTOSH PLC&lt;RWNT.L> YEAR TO END JANUARY</TITLE>
<DATELINE> LONDON, March 12 -
    </DATELINE><BODY>Shr 35.0p vs 34.8p
    Div final div 9.2p vs 8.2p
    Pretax profit 84.0 mln stg vs 79.3 mln
    Net after tax 66.2 mln vs 60.7 mln
    Turnover 1,290.4 mln vs 1,205.2 mln
    Trading profit 105.7 mln stg vs 101.3 mln, consisting -
    U.K  47.9 mln vs 45.3
    Europe 7.8 mln vs 3.4 mln
    North America 34.7 mln vs 37.2 mln
    Australasia 4.0 mln vs 2.3 mln
    Rest of world 11.3 mln vs 13.1 mln
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9006" NEWID="4093">
<DATE>12-MAR-1987 05:34:36.01</DATE>
<TOPICS><D>money-fx</D><D>reserves</D></TOPICS>
<PLACES><D>taiwan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0399&#31;reute
u f BC-TAIWAN-CLAMPS-NEW-CON   03-12 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN CLAMPS NEW CONTROLS ON CURRENCY INFLOWS</TITLE>
<AUTHOR>    By Andrew Browne, Reuters</AUTHOR>
<DATELINE>    TAIPEI, March 12 - </DATELINE><BODY>Taiwan's new controls on currency
inflows, implemented today, are a desperate bid to stem a flood
of speculative money prompted by the local currency surge
against the U.S. Dollar, local and foreign bankers said.
    The central bank now has to clear remittances exceeding one
mln U.S. Dlrs earned from exports, shipping and insurance and
bank lending plus remittances of more than 10,000 dlrs from any
other source.
    Petitioners have to show their remittances relate to
genuine commercial transactions.
    Meanwhile, traders are no longer required to report all
outward payments concerning invisible trade, including freight,
insurance and royalties, to the central bank.
    But bankers said they believed the new controls would be
ineffective since businessmen could split up remittances into
smaller units or simply remit money through Taiwan's
flourishing currency black market.
    The bankers said the controls, announced on March 6, are a
panic reaction to U.S. Pressure, which has intensified over the
past week, for a faster appreciation of the Taiwan dollar to
slow the growth of Taiwan's exports to the U.S.
    The government has denied local press reports Washington is
pressing for an exchange rate of up to 28 dlrs.
    The Taiwan dollar opened four cents up today at 34.70.
    "I don't think the central bank has a final target," said an
executive with a U.S. Bank. Other bankers and economists said
they are wary of making any firm predictions about how far the
Taiwan dollar will rise.
    Taiwan's trade surplus with the U.S. Hit 13.6 billion U.S.
Dlrs last year against 10.2 billion in 1985. The surplus
widened in the first two months of the year to 2.35 billion
dlrs from 1.87 billion in the same period last year.
    Economists estimate up to five billion dlrs in speculative
money flowed into Taiwan in 1986.
    This inflow helped boost foreign exchange reserves to more
than 51 billion dlrs from just under 25 billion this time last
year and provided further upward pressure on the currency.
    The Taiwan dollar has appreciated by almost 15 pct against
the U.S. Currency since September 1985, further encouraging
speculators.
    Central bank governor Chang Chi-cheng said last week
Washington's pressure plus rising foreign exchange reserves
meant a further strengthening in the currency is inevitable.
    Many local bankers argue the only effective solution to the
currency problem is to drop foreign exchange controls and allow
the local dollar to find its own level.
    "Lifting exchange controls is the final answer, but the
central bank is not prepared to do it. It simply does not want
to take the risk," said one local banker.
    He said he believed the new restrictions are a temporary
measure designed to buy time as the central bank grapples with
the exchange rate problem.
    The restrictions are a bureaucratic imposition and skirt
around the real issue, he said.
    Taiwan needs a fundamental restructuring of foreign
exchange controls, said an executive with a western bank.
    "The controls will create more paperwork, but the extra bank
charges will not outweigh the profits of speculation," said the
manager of a European bank.
    Economists criticised the controls, saying they could
antagonise Washington, which is pushing for further economic
liberalisation in Taiwan.
    "Instead of liberalising outflows, the government has
restricted inflows," said Kate Newman, an economist with Vickers
da Costa.
    A local banker, who declined to be named, said, "It's
basically ridiculous. It's a backward movement and goes against
the government's liberalisation programme."
    Taiwan last year eased some of its financial regulations to
enable Taiwan nationals to invest in foreign government bonds,
treasury bills and certificates of deposit and to allow
individuals to take 5,000 U.S. Dlrs in cash out of the country
each year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9007" NEWID="4094">
<DATE>12-MAR-1987 05:41:40.43</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;f0417&#31;reute
u f BC-GLYNWED-INTERNATIONAL   03-12 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>GLYNWED INTERNATIONAL PLC &lt;GLYN.L> 1986 YEAR</TITLE>
<DATELINE>    LONDON, March 12 -
    </DATELINE><BODY>Shr, net basis 27.47p vs 22.15p
    Div 6.5p vs 5.4p making 10.1p vs 8.4p
    Pretax profit 46.1 mln stg vs 35.6 mln
    Net after tax 30 mln vs 23.3 mln
    Extraordinary items debit 3.8 mln vs debit 2.3 mln
    Interest payable 2.7 mln vs 4.0 mln
    Net borrowings 7.6 mln vs 16.1 mln
    Turnover 478.9 mln vs 464.1 mln
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9008" NEWID="4095">
<DATE>12-MAR-1987 05:42:18.61</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0418&#31;reute
b f BC-TOYOTA-MOTOR-CREDIT-I   03-12 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>TOYOTA MOTOR CREDIT ISSUES 23 BILLION YEN BOND</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>Toyota Motor Credit Corp is issuing a 23
billion yen eurobond due April 10, 1992 paying 4-1/2 pct and
priced at 101-1/2 pct, lead manager Nomura International Ltd
said.
    The bond is available in denominations of one mln yen and
will be listed in Luxembourg. Payment is April 10.
    Fees comprise 1-1/4 pct selling concession and 5/8 pct for
management and underwriting combined.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9009" NEWID="4096">
<DATE>12-MAR-1987 05:51:07.40</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>netherlands</D><D>france</D><D>west-germany</D><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0431&#31;reute
u f BC-DUTCH-SUGAR-TRADE-DEN   03-12 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>DUTCH SUGAR TRADE DENY INVOLVEMENT IN OFFER</TITLE>
<DATELINE>    ROTTERDAM, March 12 - </DATELINE><BODY>Dutch sugar traders deny involvement
in a plan to offer more than 850,000 tonnes of sugar to
intervention in protest at EC export policy and prices, traders
told Reuters.
    Although some 2,500 tonnes of sugar have been offered to
intervention in the Netherlands, Dutch producers and traders
said this sugar was actually Belgian and was being offered by
the Belgian industry.
    "We sympathise with the actions of the French, West German
and Belgian traders and producers, but we are not party to it,"
a spokesman said.
    EC Commission sources said yesterday French traders planned
to sell 775,000 tonnes into intervention stocks, West German
traders 75,000 tonnes and Dutch traders 2,500. Dutch trade
sources gave the same figure for France, but estimated up to
110,000 tonnes offered by German traders and producers.
    The Dutch spokesman added, "The weekly export tender policy
and prices are squeezing the European sugar industry, and this
is the only way in which they can really register their
protest.
    "These are desperate actions, but we believe that most of
this offered sugar will be withdrawn within the three-week
breathing space allowed."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9010" NEWID="4097">
<DATE>12-MAR-1987 05:56:21.18</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;f0436&#31;reute
u f BC-GLYNWED-SEES-FURTHER   03-12 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>GLYNWED SEES FURTHER PROGRESS IN 1987</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>Glynwed International Plc &lt;GLYN.L> in a
statement accompanying their results that present indications
are that 1987 has started well and it is confident that the
year will be one of further progress.
    The company added that results in the U.S. Were poor and
the deterioration in the South African economy left its Falkirk
Industries unit with a loss of one mln stg. But it said there
was a continuing improvement in its core businesses.
    The extraordinary items debit of 3.8 mln stg arose on the
closure and disposal of various businesses.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9011" NEWID="4098">
<DATE>12-MAR-1987 06:04:30.01</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;f0445&#31;reute
u f BC-BRITISH-TELECOM-SEES   03-12 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>BRITISH TELECOM SEES SATISFACTORY 1986/87 RESULTS</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>British Telecommunications Plc &lt;BTY.L>
expects to announce satisfactory results for its 1986/87
financial year ending March, chairman Sir George Jefferson said
in a third quarter statement.
    Full year results will be published in June. In the 1985/86
financial year, pre-tax profit rose to 1.81 billion stg from
1.48 billion in the previous period.
    Jefferson said good progress was made in the latest nine
months, while most customers were able to maintain their normal
level of calls during the recent strike by company engineers.
    The statement said a positive cash flow of 381 mln stg for
the first nine months will diminish in the final quarter due to
corporation tax and dividend payments.
    Earlier, the company reported third quarter pre-tax profit
for the period ended December 31 of 506 mln stg compared with
452 mln a year earlier. Nine month pre-tax was 1.51 billion stg
against 1.35 billion.
    British Telecom shares were last quoted at 246-1/2p, level
with late yesterday, in the wake of results which were in line
with market expectations, dealers said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9012" NEWID="4099">
<DATE>12-MAR-1987 06:10:16.95</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>uk</D><D>india</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0449&#31;reute
b f BC-INDIA-BUYS-WHITE-SUGA   03-12 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>INDIA BUYS WHITE SUGAR FROM LONDON TRADERS</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>India yesterday bought two cargoes of
white sugar from London traders for April/May shipment and
granted the trade houses the option to sell an additional two
cargoes at the same price for May/June shipment, the firms
involved said.
    E D and F Man and Woodhouse, Drake and Carey both said they
sold single cargoes at 237.35 dlrs a tonne cif for April/May
and were granted options to sell an extra cargo each at the
same price for May/June at the Indian buying tender for three
to four cargoes of whites held yesterday. The tender had called
for a single cargo of prompt and two to three cargoes of
April/May.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9013" NEWID="4100">
<DATE>12-MAR-1987 06:10:57.45</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;f0450&#31;reute
u f BC-&lt;NEXT-PLC>-&lt;NEXL.L>-F   03-12 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;NEXT PLC> &lt;NEXL.L> FIVE MONTHS TO END JANUARY</TITLE>
<DATELINE>    LONDON, March 12 -
    </DATELINE><BODY>Shr 7.67p vs 5.34p
    Div 1.5p vs 1.08p
    Pretax profit 30.12 mln stg vs 12.40 mln
    Net interest payable 2.55 mln vs 200 stg
    Net after tax 19.58 vs 7.44 mln
    Turnover excluding VAT 257.66 mln vs 74.09 mln
    Note - The company said it intends to issue a second
interim statement for the six months to July 1987 and to pay a
related dividend in early 1988.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9014" NEWID="4101">
<DATE>12-MAR-1987 06:16:36.48</DATE>
<TOPICS><D>carcass</D><D>livestock</D></TOPICS>
<PLACES><D>australia</D><D>bahrain</D><D>uae</D><D>saudi-arabia</D><D>kuwait</D><D>iran</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;L C
&#22;&#22;&#1;f0459&#31;reute
u f BC-AUSTRALIA-EXPECTS-RIS   03-12 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIA EXPECTS RISE IN MEAT EXPORTS TO MIDEAST</TITLE>
<AUTHOR>    By Ian MacKenzie, Reuters</AUTHOR>
<DATELINE>    BAHRAIN, March 12 - </DATELINE><BODY>Australia expects meat and livestock
exports to the Middle East to maintain an upward trend this
year, managing director of the Australian Meat and Livestock
Corp, Peter Frawley, said.
    He told Reuters an improvement in the economic climate and
less competition from the European Community should lead in the
Gulf area to higher beef sales, which dropped from 33,000
tonnes in 1980 to just 2,300 tonnes last year.
    "In the last three to four months there has been a
resurgence of inquiries," he said.
    Frawley is on a Gulf tour which will also take him to Saudi
Arabia, the United Arab Emirates and Kuwait to assess market
potential.
    On beef exports, he said a 50 pct drop in European
Community intervention stock in the past 12 months would help
Australian sales.
    The fall meant the EC was not as aggressive in these
markets, where the Australian trade was the natural source of
supply, and Australia was "now back in," Frawley said.
    He said there was a debate in Australia as to whether the
Middle East market for livestock, which accounts for two-thirds
of meat export value to the area, would be maintained.
    He believed the trade would remain with a continuing demand
for fresh meat.
    The number of live sheep shipped last year to Saudi Arabia,
the biggest single market, was 3,214,159 compared with
2,939,226 in 1985. The numbers shipped to the United Arab
Emirates and Bahrain fell, however.
    Frawley said the slackening in demand in the Gulf had been
offset by other Arab countries around the Mediterranean.
    Other than livestock, Australia's overall meat sales to the
Middle East rose to 72,374 tonnes in 1986 from 52,403 tonnes
the previous year, largely due to the sale of 25,790 tonnes of
mutton and lamb to Iran.
    Australia sold 9,824 tonnes to Iran in 1985 after being
virtually excluded by New Zealand competition for several
years. Frawley said the 1986 sale contract had included a
barter provision, but Iran had paid in full in cash.
    Negotiations with the Iranians for 1987 shipments were
currently under way, with Iran again seeking credit and barter
provisions, he said.
    Frawley said there had been a tremendous growth in demand
for chilled lamb in the last four to five years and he
predicted this would continue.
    "The Middle East, and the Gulf in particular, is now
Australia's largest market for lamb, chilled and flown in.
Australia is in an ideal position to provide the supplies if
the market is willing to pay a premium for a fresh, young
product," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9015" NEWID="4102">
<DATE>12-MAR-1987 06:29:53.03</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0471&#31;reute
u f BC-BELGIUM-PLACING-100-M   03-12 0051</UNKNOWN>
<TEXT>&#2;
<TITLE>BELGIUM PLACING 100 MLN SWISS FRANC NOTES</TITLE>
<DATELINE>    GENEVA, March 12 - </DATELINE><BODY>The Kingdom of Belgium is issuing 100
mln Swiss francs of 10-year bullet notes with a 4-3/4 pct
coupon and 100-3/4 issue price, lead manager Kredietbank
(Suisse) SA said.
    Payment is due March 31.
    Denominations are 50,000 francs.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9016" NEWID="4103">
<DATE>12-MAR-1987 06:32:30.32</DATE>
<TOPICS><D>cotton</D></TOPICS>
<PLACES><D>india</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0475&#31;reute
r f BC-INDIA-1986/87-COTTON   03-12 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>INDIA 1986/87 COTTON EXPORT QUOTA UP 190,000 BALES</TITLE>
<DATELINE>    NEW DELHI, March 12 - </DATELINE><BODY>India's raw cotton export quota has
been raised by 190,000 170-kg bales to 600,000 bales in 1986/87
ending August, still well below the 1985/86 quota of 1.35 mln
bales, Minister of State for Textiles R.N. Mirdha said.
    State and private agencies contracted to export 1.34 mln
bales in 1985/86, he told journalists. But only 433,000 bales
were shipped that year, with the rest to be delivered in
1986/87. About 758,000 bales from 1985/86 contracts were
shipped up to February 2 in 1986/87.
     The government will export 600,000 bales of long and
extra- long staple cotton in the three years from 1986/87, he
said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9017" NEWID="4104">
<DATE>12-MAR-1987 06:35:58.70</DATE>
<TOPICS></TOPICS>
<PLACES><D>norway</D><D>denmark</D><D>sweden</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0483&#31;reute
u f BC-SCANDINAVIA-PROPOSES   03-12 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>SCANDINAVIA PROPOSES DEREGULATING U.S. AIR FARES</TITLE>
<DATELINE>    OSLO, March 12 - </DATELINE><BODY>Denmark, Norway and Sweden have jointly
proposed deregulating air fares between Scandinavia and the
U.S. In exchange for greater access to the domestic U.S.
Airline market, Norwegian officials said.
    The proposal, handed to federal aviation authorities in
Washington by a delegation from the three countries' transport
ministries, was seen in the industry as a major concession to
demands by U.S. Airlines to deregulate air fares to
Scandinavia.
    The scheme in return requests the &lt;Scandinavian Airlines
System>, owned by Sweden, Denmark and Norway's governments, be
allowed to compete freely and fairly in the U.S. Market.
    SAS, the only Scandinavian airline flying transatlantic
routes to the U.S., Is currently allowed to land at only four
U.S. Cities and has no commercial routes within the U.S.
    SAS has long held that regulations allowing U.S. Airlines'
connecting flights from international to regional airports
within Scandinavia have given these companies an advantage
denied to SAS in the United States.
    Initial U.S. Reaction to the proposal has been positive,
officials said. Industry sources added that if approved, the
scheme would likely lower air fares dramatically between
Scandinavia and the U.S.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9018" NEWID="4105">
<DATE>12-MAR-1987 06:36:30.98</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0484&#31;reute
b f BC-STE-LYONNAISE-DES-EAU   03-12 0035</UNKNOWN>
<TEXT>&#2;
<TITLE>STE LYONNAISE DES EAUX &lt;LYOE.PA> YEAR ENDED DEC 31</TITLE>
<DATELINE>    PARIS, March 12 -
    </DATELINE><BODY>Consolidated attributable net 1986 profit 360 mln francs vs
279.8 mln.
    Parent company net profit 191 mln vs 150.9 mln.
    REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9019" NEWID="4106">
<DATE>12-MAR-1987 06:38:16.50</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0487&#31;reute
u f BC-LYONNAISE-DES-EAUX-FO   03-12 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>LYONNAISE DES EAUX FORECASTS 1987 PROFIT RISE</TITLE>
<DATELINE>    PARIS, March 12 - </DATELINE><BODY>Consolidated attributable net profit of
Ste Lyonnaise des Eaux &lt;LYOE.PA> is likely to rise by at least
10 pct this year from the 360 mln francs reported for 1986,
Chairman Jerome Monod told a news conference.
    Group turnover should rise about seven pct from the 15.7
mln reported for this year, while group investments should
total around 1.8 billion francs, somewhat above the 1.3 billion
annual average of the past three years, he added.
    Investments will be aimed mainly at developing the group's
leisure industry, health and communications activities, Monod
said.
    In the leisure sector the group planned a joint development
with Club Mediterranee &lt;CMI.PA>, Club Med, of a 200 hectare
pleasure park at Puisaye in the Yonne department of Eastern
Central France, he said.
    Wholly-owned subsidiary Lyonnaise de Developpement
Touristique would carry out the construction work and financial
planning of the development which would be leased to Club Med
as operator of the complex, he said.
    He gave no financial details but said leisure sector
investments would total about 100 mln francs over the next
three years.
    Investments in the communications industry would go mainly
to develop the group's cable television activities and its 25
pct owned Metropole Television affiliate. Metropole recently
won the concession to operate a sixth television channel in
France.
    Financing requirement of Metropole would be about 700 mln
francs over the next four years, of which Lyonaise des Eaux
would provide about 175 mln, Monod said.
    Monod said Metropole aimed to win a 15 to 20 pct audience
share and to capture about 10 pct of the national television
advertising market.
    Total investment by the group in the communications sector,
including cable activities, would be between 300 mln and 400
mln francs over the next five years, mainly concentrated in the
coming year.
    Investment in cable operations would total between 150 mln
and 200 mln over the five years, with the aim of widening the
audience to 280,000 subscribers from 12,000, and boosting
turnover to around 450 mln francs a year from 10 mln.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9020" NEWID="4107">
<DATE>12-MAR-1987 06:38:22.46</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;f0488&#31;reute
b f BC-GUS-MAKES-8.2-MLN-STG   03-12 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>GUS MAKES 8.2 MLN STG AGREED OFFER FOR PANTHERELLA</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>Great Universal Stores Plc &lt;GUS.L> said
it has made an agreed offer for &lt;Pantherella Plc>, valuing the
company at 8.2 mln stg and each Pantherella ordinary share at
205 pence.
    The offer is based on eight new "A" non voting ordinary
shares in GUS plus 95.16 stg for every 100 ordinary
Pantherella.
    The new GUS shares will not receive the eight pence per
share interim dividend in respect of the year ending March
1987, the statement said.
    GUS has received irrevocable undertakings to accept the
offer in respect of 39.1 pct of Pantherella shares from the
company's directors and their families.
    The Pantherella board estimates the company, which
manufactures socks, will show a 1986 pretax profit of about
690,000 stg.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9021" NEWID="4108">
<DATE>12-MAR-1987 06:40:12.16</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;f0490&#31;reute
u f BC-GERMAN-IBM-REPORTS-NI   03-12 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN IBM REPORTS NINE PCT DROP IN TURNOVER IN 1986</TITLE>
<DATELINE>    STUTTGART, March 12 - </DATELINE><BODY>IBM Deutschland GmbH &lt;IBM.F>, the
West German subsidiary of International Business Machines Corp
&lt;IBM.N>, said its turnover fell nine pct to 12.0 billion marks
in 1986 as a result of currency factors, weaker demand in the
second half and stiff price competition.
    IBM Deutschland planned to strengthen its software and
service activities in future to ensure growth remained at
desired levels in the medium term, managing board chairman
Hans-Olaf Henkel said. He gave no 1986 profit figures.
    Domestic turnover fell 12.7 pct to 7.2 billion marks while
exports declined 3.2 pct to 4.8 billion.
    Most of IBM Deutschland's exports go to IBM companies in
other countries.
    Henkel said volume sales had been positive overall,
especially in the large computer and personal computer sectors.
However, at the same time, fierce international competition,
worldwide overcapacity and currency movements had reduced large
computer prices for IBM Deutschland by some 23 pct.
    In January Henkel said the annual growth rate of the German
computer market may in the long term be less than 10 pct, well
below the 20 pct expansion originally forecast.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9022" NEWID="4109">
<DATE>12-MAR-1987 06:50:12.16</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0501&#31;reute
r f BC-JAPAN-READY-TO-DISCUS   03-12 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN READY TO DISCUSS BANK REGULATION</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>Japan is ready to discuss bank
regulation and capital adequacy with western monetary
authorities but cannot say when or how joint rules can be
agreed, Japanese vice-minister of finance for international
affairs Toyoo Gyohten said.
    He told a Nikkei conference on Tokyo financial markets that
Japan viewed a January outline agreement between the Bank of
England and U.S. Regulatory authorities as "significant."
    The accord, setting joint rules on capital adequacy, was
criticised in financial markets for excluding Japan, thus
putting U.S. And U.K. Banks at a disadvantage to Japanese banks
    "I am pleased to say that we are prepared to work with
British and American regulators," Gyohten said.
    He added that preliminary contacts had already been made in
the margin of the Bank for International Settlements (BIS) in
Basle where central bank governors of western nations meet
every month.
    But proper negotiations were still some way off. "We have to
start learning about the different situations in each country
before we can start working towards joint rules," he said.
    "I can't predict when or how we will reach conclusions," he
added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9023" NEWID="4110">
<DATE>12-MAR-1987 06:54:29.33</DATE>
<TOPICS></TOPICS>
<PLACES><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T
&#22;&#22;&#1;f0503&#31;reute
r f BC-GEORGIAN-AVALANCHES-A   03-12 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>GEORGIAN AVALANCHES AND FLOODS BRING DEATHS</TITLE>
<DATELINE>    MOSCOW, March 12 - </DATELINE><BODY>Avalanches, landslides and floods have
killed almost 100 people since the start of the year in the
Soviet Transcaucasian republic of Georgia, the official daily
Sotsialisticheskaya Industriya said.
    Some 16,000 people have been left homeless and 80,000
hectares of arable land and plantations rendered useless, the
newspaper said. The figures are still preliminary, but it
estimated total losses at over 300 mln roubles.
    It said a large number of livestock and birds were killed
in the natural disaster and more than 1,800 km of roads needed
repairing.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9024" NEWID="4111">
<DATE>12-MAR-1987 07:00:12.59</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>hong-kong</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0507&#31;reute
u f BC-&lt;BOND-CORP-INTERNATIO   03-12 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;BOND CORP INTERNATIONAL LTD> NINE MOS TO DEC 31</TITLE>
<DATELINE>    HONG KONG, March 12 -
    </DATELINE><BODY>Shr loss 17.4 H.K. Cents (no comparison)
    Dividend nil (no comparison)
    Net loss 11.49 mln dlrs.
    Notes - Net excluded extraordinary losses 27.91 mln dlrs.
Property valuation reserve surplus 67 mln dlrs.
    Results reflected trading in subsidiary &lt;Humphreys Estate
Group> but excluded influence of a bulk of properties which the
firm bought late last year from Hongkong Land Co Ltd &lt;HKLD.HK>
for 1.4 billion dlrs.
    Company controlled by Bond Corp Holdings Ltd of Australia.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9025" NEWID="4112">
<DATE>12-MAR-1987 07:00:47.67</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0508&#31;reute
b f BC-ROWNTREE-ISSUES-CONVE   03-12 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>ROWNTREE ISSUES CONVERTIBLE EUROSTERLING BOND</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>Rowntree Mackintosh Plc &lt;RWNT.L> is
issuing a 55 mln stg eurobond due March 31, 2002, paying an
indicated coupon of 4-1/2 pct to five pct and priced at par,
lead manager J Henry Schroder Wagg and Co Ltd said.
    Final terms on the issue will be fixed by March 16.
Denominations are 1,000 stg and listing will be London.
    There is a put option on March 31, 1992, to yield 8-1/2 to
nine pct and the bond is also callable by the borrower until
March 31, 1988, at 106 pct, declining by one pct per annum
thereafter to par. However the call will not be before 1992.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9026" NEWID="4113">
<DATE>12-MAR-1987 07:01:20.35</DATE>
<TOPICS><D>reserves</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0509&#31;reute
u f BC-GERMAN-PUBLIC-AUTHORI   03-12 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN PUBLIC AUTHORITY BUNDESBANK HOLDINGS FALL</TITLE>
<DATELINE>    FRANKFURT, March 12 - </DATELINE><BODY>The net position of federal states
worsened in the first March week, cutting public authority net
holdings at the Bundesbank by 500 mln marks, the central bank
said.
    States' cash deposits at the central bank fell to 800 mln
and they also drew down 1.2 billion marks in book credit, 900
mln marks more than in the prior week.
    By contrast, however, the federal government was able to
reduce its credit drawdown at the central bank by 900 mln marks
to 900 mln.
    Despite the stronger states' net needs in the week, their
cash position and other market dependent influences just about
balanced the outflow of liquidity from the money market through
an increase in cash in circulation, the Bundesbank said.
    Cash in circulation rose by 1.4 billion marks in the week
to 122.9 billion.
    Liquidity also came in through the maturing of short-term
treasury bills bought from the Bundesbank in the prior week.
    Gross currency reserves rose in the week by 400 mln marks
to 109.9 billion. Foreign liabilities of the Bundesbank were
largely unchanged at 22.8 billion marks, giving a rise in net
currency reserves of 400 mln to 87.0 billion, it said.
    The Bundesbank said its balance sheet total fell by 3.77
billion in the week to 218.45 billion.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9027" NEWID="4114">
<DATE>12-MAR-1987 07:07:47.87</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E V RM
&#22;&#22;&#1;f0525&#31;reute
f f BC-embargoed-0700edt****   03-12 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CANADA JANUARY TRADE SURPLUS 533 MLN DLRS AFTER DECEMBER 965 MLN DLRS SURPLUS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9028" NEWID="4115">
<DATE>12-MAR-1987 07:09:26.65</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E V RM
&#22;&#22;&#1;f0526&#31;reute
b f BC-embargoed-0700edt-CAN   03-12 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA JANUARY TRADE SURPLUS 533 MLN DLRS</TITLE>
<DATELINE>    OTTAWA, Mar 12 - </DATELINE><BODY>Canada had a trade surplus of 533 mln dlrs
in January compared with an upward revised 965 mln dlrs surplus
in December, Statistics Canada said.
    The December surplus originally was reported at 964 mln
dlrs. The January surplus last year was 1.19 billion dlrs.
    January exports, seasonally adjusted, were 9.72 billion
dlrs against 10.39 billion in December and 10.89 billion in
January, 1986.
    January imports were 9.19 billion dlrs against 9.43 billion
in December and 9.71 billion in January 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9029" NEWID="4116">
<DATE>12-MAR-1987 07:10:33.83</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0529&#31;reute
r f BC-TOYOTA-MOTOR-CREDIT-I   03-12 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>TOYOTA MOTOR CREDIT ISSUES 23 BILLION YEN BOND</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>Toyota Motor Credit Corp is issuing a 23
billion yen eurobond due April 10, 1992 paying 4-1/2 pct and
priced at 101-1/2 pct, lead manager Nomura International Ltd
said.
    The bond is available in denominations of one mln yen and
will be listed in Luxembourg. Payment is April 10.
    Fees comprise 1-1/4 pct selling concession and 5/8 pct for
management and underwriting combined.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9030" NEWID="4117">
<DATE>12-MAR-1987 07:12:48.83</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>hungary</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0540&#31;reute
u f BC-HUNGARIAN-1987-SUGAR   03-12 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>HUNGARIAN 1987 SUGAR BEET AREA LITTLE CHANGED</TITLE>
<DATELINE>    BUDAPEST, March 12 - </DATELINE><BODY>Hungary is to grow sugar beet on
105,000 hectares of land this year compared with some 95,000 in
1986, the official MTI news agency said.
    Diplomats said this reflected Hungary's policy of keeping
the sugar beet area stable under the current five-year plan
(1985-89) and producing enough to cover only domestic demand
despite the recent rise of world prices to 10 month highs.
    Drought cut the 1986 harvest to 3.58 mln tonnes from 4.07
mln in 1985. But a record yield of 130 kilos per tonne of beet
kept production at 454,000 tonnes, with 30,000 extra refined in
Yugoslavia from Hungarian beet. Output was 483,000 in 1985.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9031" NEWID="4118">
<DATE>12-MAR-1987 07:13:25.86</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0541&#31;reute
r f BC-SALOMON-RAISES-SIZE-O   03-12 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>SALOMON RAISES SIZE OF CMO TO 350 MLN DLRS</TITLE>
<DATELINE>    London, March 12 - </DATELINE><BODY>Salomon Brothers international inc said
it has raised the size of its Collateralised Mortgage
Obligation TRUST 23 to 350 mln dlrs from the 228 mln dlrs
announced yesterday.
    All other terms of the issue remain the same, Salomon said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9032" NEWID="4119">
<DATE>12-MAR-1987 07:15:50.83</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0544&#31;reute
r f BC-JAPAN-TO-SELL-200-BIL   03-12 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN TO SELL 200 BILLION YEN IN BILLS, TRADERS</TITLE>
<DATELINE>    TOKYO, March 12 - </DATELINE><BODY>The Bank of Japan will sell tomorrow 200
billion yen of financing bills under a 50-day repurchase
agreement maturing on May 2, to help absorb a projected money
market surplus due largely to distribution of local allocation
tax ahead of the March 31 fiscal year-end, money traders said.
    The yield on the bills for sales to banks and securities
houses from money houses will be 3.9496 pct against the 3.9375
pct discount rate for two-month commercial bills and the
4.46/37 pct yield today on two-month certificates of deposit.
    The operation will put outstanding bill supply at about
1,500 billion yen.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9033" NEWID="4120">
<DATE>12-MAR-1987 07:16:20.36</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0545&#31;reute
d f BC-KIDSTON-SAYS-HIGHER-N   03-12 0118</UNKNOWN>
<TEXT>&#2;
<TITLE>KIDSTON SAYS HIGHER NET REFLECTS GOLD SALE RISE</TITLE>
<DATELINE>    BRISBANE, March 12 - </DATELINE><BODY>&lt;Kidston Gold Mines Ltd> attributed
the rise in 1986 net profit to higher prices and an increase in
gold sales to 237,969 ounces from 206,467 ounces in 1985.
    The &lt;Placer Development Ltd> offshoot, which operates
Australia's largest gold mine, in North Queensland, earlier
reported net profit rose to 60.50 mln dlrs from 50.76 mln in
the 1985 period of 10 months from the start of production.
    Sales of silver also rose to 165,968 ounces from 109,516.
    Kidston said in a statement it will spend about 5.5 mln
dlrs to upgrade its mill grinding circuit to a mill-ball,
mill-crushing circuit to boost output by 25 pct from end-1987.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9034" NEWID="4121">
<DATE>12-MAR-1987 07:16:46.84</DATE>
<TOPICS></TOPICS>
<PLACES><D>sweden</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0546&#31;reute
u f BC-SVENSKA-HANDELSBANKEN   03-12 0106</UNKNOWN>
<TEXT>&#2;
<TITLE> SVENSKA HANDELSBANKEN TO START FUTURES TRADING</TITLE>
<DATELINE>    STOCKHOLM, March 12 - </DATELINE><BODY>Sweden's second largest bank Svenska
Handelsbanken &lt;SHBS.S> said it will launch trading in share
futures with fixed maturity dates from March 19.
    Trading will start in four stocks -- Svenska Cellulosa AB
&lt;SCAB.S> (SCA), Forsakrings AB Skandia &lt;SKDS.S>, AB Volvo
&lt;VOLV.S> and Pharmacia AB &lt;PHAB.S>. Each futures contract is
for 1,000 shares and with fixed terms of three and six months.
    The bank did not say whether the futures instruments will
be open to foreign investors, who are only allowed to own
so-called unrestricted shares in Swedish companies.
    The Swedish Central Bank last month gave the go-ahead for
foreigners to trade in share options, but said such approval
will only be given on an individual basis.
    The Handelsbanken scheme, aimed at mainly institutional
investors, is only the latest of several novelties introduced
on Sweden's fast-growing financial markets in recent years.
    The country's private options exchange is already the
world's fifth largest and tomorrow a rival market, the Sweden
Options and Futures Exchange (SOFE), will begin trading.
    SOFE will also launch a market for share index futures this
spring.
    REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9035" NEWID="4122">
<DATE>12-MAR-1987 07:17:55.57</DATE>
<TOPICS><D>tin</D></TOPICS>
<PLACES><D>malaysia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f0548&#31;reute
u f BC-BULLETIN-SAYS-TIN-PRI   03-12 0120</UNKNOWN>
<TEXT>&#2;
<TITLE>BULLETIN SAYS TIN PRICE MAY RISE TO 20 RINGGIT</TITLE>
<DATELINE>    KUALA LUMPUR, March 12 - </DATELINE><BODY>The tin price is likely to rise to
20 ringgit a kilo this year because of the producers' accord on
export quotas and the reluctance of brokers and banks to sell
the metal at lower prices, a Malaysian government bulletin
said.
    The Malaysian Tin bulletin said it is in producers'
interest to keep to their quotas to limit total exports to
90,000 tonnes and to gradually deplete the 80,000 tonnes
overhang.
    It said consumption by industrialised countries should stay
at 160,000 tonnes and that International Tin Council creditors
and brokers are not likely to dump their stocks excessively
unless there is a large and abrupt price jump.
    The continued depreciation of the dollar could also help
push up the price of tin, the bulletin said.
    A depreciation of the dollar means the depreciation of the
ringgit which is closely pegged to it, making the price of tin
cheaper in sterling terms, it added.
    "Even in the absence of economic rationale in the tin
market, psychological optimism alone is sufficient to secure a
price recovery of up to 20 ringgit per kilo," the bulletin said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9036" NEWID="4123">
<DATE>12-MAR-1987 07:18:34.73</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0549&#31;reute
r f BC-&lt;KIDSTON-GOLD-MINES-L   03-12 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;KIDSTON GOLD MINES LTD> 1986 YEAR</TITLE>
<DATELINE>    BRISBANE, March 12 -
    </DATELINE><BODY>Shr 48.4 cents vs 40.6
    Yr div 37 cents vs 15
    Net 60.50 mln dlrs vs 50.76 mln
    Turnover 134.54 mln vs 100.63 mln
    Other income 1.02 mln vs 920,000
    Shrs 125 mln vs same.
    NOTE - Company paid total 37 cents in previously declared
quarterly divs vs 15. Net is after tax 173,000 dlrs vs 285,000,
interest 9.67 mln vs 8.05 mln and depreciation 11.76 mln vs
9.59 mln.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9037" NEWID="4124">
<DATE>12-MAR-1987 07:19:07.41</DATE>
<TOPICS></TOPICS>
<PLACES><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0552&#31;reute
u f BC-MOSCOW-CARRIES-OUT-NU   03-12 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>MOSCOW CARRIES OUT NUCLEAR TEST</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>The Soviet Union carried out a nuclear
test early today, the official Tass news agency reported.
    According to the report, monitored by the British
Broadcasting Corporation, the explosion was at 0200 gmt.
    A blast on February 26 ended a 19-month unilateral test
moratorium declared by the Soviet Union. Moscow blamed the end
of the freeze on U.S. Refusal to join a total test ban.
    Tass said the latest explosion, with a power of up to 20
kilotonnes, had "the aim of improving military equipment."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9038" NEWID="4125">
<DATE>12-MAR-1987 07:20:31.83</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0554&#31;reute
r f BC-CHINA-CLOSES-SECOND-R   03-12 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA CLOSES SECOND ROUND OF OFFSHORE OIL BIDS</TITLE>
<DATELINE>    PEKING, March 12 - </DATELINE><BODY>China has closed the second round of
bidding by foreign firms for offshore oil exploration rights,
the China Daily has reported.
    It quoted a spokesman for the China National Offshore Oil
Corp (CNOOC) as saying China signed eight contracts with 15
foreign firms for blocks in the Pearl River mouth and south
Yellow Sea covering a total area of 44,913 sq km.
    Second round bidding began at the end of 1984 and only one
well has so far produced results -- Lufeng 13-1-1, 250 km
south-east of Shenzhen, with an output of 6,770 barrels a day.
The well was drilled by a group of Japanese companies.
    The spokesman added CNOOC was ready to enter into contracts
for offshore blocks before third round bidding began. He did
not say when this would be, but added the contracts would not
be bound by restrictions imposed during the second round.
    China has signed 36 oil contracts and agreements with 37
companies from 10 countries since 1979, when offshore
exploration was open to foreigners. Eleven contracts were
terminated after no oil was discovered.
    Foreign firms have invested 2.1 billion dlrs on offshore
China since 1979.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9039" NEWID="4126">
<DATE>12-MAR-1987 07:22:10.47</DATE>
<TOPICS></TOPICS>
<PLACES><D>ecuador</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0558&#31;reute
r f BC-ECUADOR-SEEKS-HALT-TO   03-12 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>ECUADOR SEEKS HALT TO PAYMENTS TO BANKS IN 1987</TITLE>
<DATELINE>    QUITO, March 11 - </DATELINE><BODY>Ecuador, stricken by a severe earthquake,
is seeking through negotiations with private foreign banks to
postpone all payments due to them for the rest of the year,
Finance Minister Domingo Cordovez said.
    He said in a statement, "The idea with the foreign banks is
to obtain from them the best terms to give the Ecuadorean
economy a complete relief in the period of deferral of payments
on the foreign debt during the present year."
    The statement referred only to payments due to private
foreign banks, a senior government finance official told
Reuters.
    These creditors hold two-thirds of Ecuador's foreign debt
which totals 8.16 billion dlrs.
    It did not refer to debts maturing to foreign governments
and multilateral lending agencies, accounting for the remainder
of Ecuador's foreign debt, the official said.
    He said Ecuador owed the private foreign banks between 450
and 500 mln dlrs in interest payments for the rest of 1987 and
about 66 mln in principal payments maturing this year.
    Cordovez said Ecuador would seek new loans from
multilateral organisations. A World Bank mission was due here
soon to evaluate emergency loans, government officials said.
    Ecuador has also appealed for emergency aid from about 40
foreign governments.
    Government officials have calculated losses to the 1987
budget from last Thursday's earthquake at 926 mln dlrs.
    In 1986, Ecuador's total service on the foreign debt was
about 996 mln dlrs to all creditors.
    The quake ruptured Ecuador's main oil pipeline, suspending
crude exports for five months until the line is repaired. Oil
accounts for up to two-thirds of its total exports and up to 60
pct of total revenues. Before the tremor, Ecuador suspended
interest payments on January 31 to private foreign banks.
    Officials said they stopped interest payments due to a
cash-flow squeeze stemming from a slide in world oil prices,
which cut 1986 exports by about 25 pct to 2.18 billion dlrs.
    Ecuadorean finance officials have been in telephone contact
every day this week with some of the banks who sit on its
14-bank advisory committee, the senior government finance
official said. The committee represents the country's 400 or so
private foreign bank creditors.
    Cordovez also said in the statement, "The banks should
perceive that it is impossible at this moment to comply with
what was forseen."
    Cordovez added, Ecuador must make a new proposal in line
with the reality since the earthquake by seeking better options
of deferment and of softening the negotiation conditions."
    Interest payments fall due at least monthly to private
foreign banks.
    Ecuador's initial proposal earlier this year was to make
only one semi-annual or one annual interest payment this year.
    Under this proposal, it sought to defer interest payments
until June at the earliest, foreign bankers and government
officials here said.
    Ecuadorean officials held their last formal meeting with
the advisory committee in New York in January, but the
negotiations were suspended on January 16 due to the 12-hour
kidnapping of President Leon Febres Cordero by air force
paratroopers.
    The Red Cross says that least 300 people died and at least
4,000 are missing due to the earthquake.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9040" NEWID="4127">
<DATE>12-MAR-1987 07:26:54.30</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE><D>leigh-pemberton</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0573&#31;reute
r f BC-LEIGH-PEMBERTON-OPPOS   03-12 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>LEIGH-PEMBERTON OPPOSES TAKEOVER PROTECTION RULES</TITLE>
<DATELINE>   LONDON, March 11 - </DATELINE><BODY>The Bank of England does not favour the
introduction of rules to shield companies from hostile takeover
attempts, its governor, Robin Leigh-Pemberton, said.
    Instead, merchant banks advising bidding companies must
show restraint and responsibility to avoid the excesses that
have marred recent takeovers, he told the Yorkshire and
Humberside Regional Confederation of British Industries' annual
dinner.
    Leigh-Pemberton also called on companies to improve ties
with institutional investors, suggesting representatives of
those institutions be granted seats on the boards of directors
of companies they invest in.
    "Boards cannot expect protection from unwelcome predators,
for that is but a short step from saying that they should be
protected from their own shareholders -- who are, after all,
the proprietors of the company," Leigh-Pemberton said.
    He added takeovers and mergers had an important role to
play in furthering economies of scale, integration and more
efficient market penetration. "The degree of success or failure
(of a takeover) has not in my experience depended on whether or
not the takeover was contested," he said.
    Leigh-Pemberton noted there had been excesses in takeover
activity in the recent past. "The aim is to pressurise a
company's management into action dedicated solely to a
favourable impact on the share price in the short-term, partly
or even primarily at the expense of the future," he said.
    Such bids "often depend for their success on creating a
highly-charged and artificial situation in the share market,
and give rise to temptations, on both sides of the battle, to
engage in aggressive, even manipulative tactics that are
immensely damaging to the interest of the shareholders," he
said.
    In a clear reference recent events, he said "those in the
City who act for companies or individuals .. Must, I suggest,
be ready to accept a full measure of responsibility -- even if
it entails opprobrium -- for the transactions that may result."
    They "should exercise the most careful judgment at the
outset with respect to the clients for whom they act and the
activities contenplated. Those who sow wind cannot expect the
whirlwind to visit elsewhere," he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9041" NEWID="4128">
<DATE>12-MAR-1987 07:29:34.82</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0580&#31;reute
r f BC-JAPAN-RELAXES-RULES-O   03-12 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN RELAXES RULES ON SECURITIES COMPANY OUTLETS</TITLE>
<DATELINE>    TOKYO, March 12 - </DATELINE><BODY>Japan has relaxed its limit on the
establishment of securities company outlets in order to service
a growing number of individual investors, the Finance Ministry
said.
    Japanese securities companies can now set up as many as 21
new outlets in the two years before March 31, 1989, against the
previous maximum of 13.
    The rules apply to outlets in department stores,
supermarkets and other locations convenient for individuals.
    Foreign securities firms are not affected by the ruling, it
said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9042" NEWID="4129">
<DATE>12-MAR-1987 07:30:32.23</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>ecuador</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>opec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0584&#31;reute
u f BC-ECUADOR-TO-ASK-OPEC-T   03-12 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>ECUADOR TO ASK OPEC TO RAISE EXPORT QUOTA</TITLE>
<DATELINE>    CARACAS, March 12 - </DATELINE><BODY>Ecuador will ask OPEC to raise its oil
export quota by 100,000 barrels per day to 310,000 to
compensate for lost output due to last week's earthquake,
deputy Energy Minister Fernando Santos Alvite said.
    Santos Alvite, who arrived in Caracas last night to discuss
an aid plan for Ecuador, did not say when the Organisation of
Petroleum Exporting Countries (OPEC) would be approached.
    The additional output would be related to plans now under
discussion for Venezuela and Mexico to lend Ecuador crude while
it repairs a pipeline damaged by the quake.
    Earlier, Venezuelan Energy and Mines Minister Aturo
Hernandez Grisanti said his country would supply an unspecified
part of Ecuador's export commitments.
    But Santos Alvite told reporters he hoped a first cargo of
300,000 barrels could leave Maracaibo this weekend to supply
refineries near Guayaquil. He added Ecuador also wanted to make
up for 50,000 bpd it shipped to Caribbean destinations. Mexico
might supply Ecuador's South Korean market.
    Ecuador may be unable to export oil for up to five months
due to extensive damage to a 25 mile stretch of pipeline
linking jungle oilfields to the Pacific port of Balao.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9043" NEWID="4130">
<DATE>12-MAR-1987 07:34:26.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>pse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0592&#31;reute
r f BC-ECONOMIC-SPOTLIGHT--   03-12 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>ECONOMIC SPOTLIGHT - PARIS BOURSE REFORM</TITLE>
<AUTHOR>    By Malcolm Whittaker and Franck Pauly, Reuters</AUTHOR>
<DATELINE>    PARIS, March 12 - </DATELINE><BODY>French stockbrokers will lose their
jealously guarded 180-year-old monopoly of share trading over
the next five years under reforms announced on Tuesday by
Finance Minister Edouard Balladur.
    But with the prospect of fresh money flooding into their
seriously under-capitalised share trading business, there were
few signs of regret over the gradual passing of an era.
    "It is a question of survival after London's Big Bang," said
private market analyst Edouard Cointreau.
    Balladur said the long-expected reform of the Bourse
structure will progressively allow domestic and foreign banks
to buy stakes in stockbrokers' capital, while at the same time
brokers will be allowed access to the money markets.
    The project foresees free access to the Bourse by January
1, 1992, the date set for the opening of a unified European
financial market.
    The planned reform, expected to be put before Parliament
before the end of the Spring session, will open up the capital
of the 45 Paris and 15 regional stockbroker houses in three
stages beginning on January 1 next year.
    The aim of the move, following the examples of Tokyo and
London in opening up their tightly-controlled membership, was
"to take up the challenge of European financial integration and
fierce international competition," Balladur announced.
    Cointreau, founder and chairman of the private market
analysis company Centre d'Observation et de Prospective
Sociales (COPS), said the reform was a natural development.
    "The Paris market is rising but that cannot go on for ever.
The brokers know it's a good time to sell part of their
business," he told Reuters.
    The reform was inevitable given the European Community
directive, said Ben Williams of Paris brokerage house
Fauchier-Magnan. "From a French point of view one cannot be very
disappointed," he said, "but some brokers must be a bit worried
as it is not entirely evident that all brokerage houses are
worth a lot of money."
    He said that with the expansion of the market generally
here quality brokerage staff would do very well out of the
reforms in salary terms. "But on the whole expertise is not very
deep and the banks already have a lot of such expertise."
    Dealers agreed generally that by allowing brokers to
reinforce their equity capital, the reform was expected to
improve their ability to take large positions in stocks and
bolster the liquidity of the Paris market.
    The French Banking Association, grouping domestic and
foreign banks operating here, welcomed the reforms. French
banks, which only won direct access to the bond markets last
September, have never been happy with the stockbrokers'
continuing monopoly on share trading.
    Brokers said it was too soon to say what form links with
other foreign brokerage houses and banks might take. "Nobody is
willing to talk about this yet but one can be sure that
alliances have been formed over the past years," Williams said.
    Some brokers said the opening up of their capital to banks
could pose questions such as whether the major banks might all
aim for stakes in the most prestigious and best-performing
brokerage houses, or whether the smaller houses might be
targetted for swallowing up to give banks an easy entry onto
the Bourse.
    Individual banks were reticent over likely strategy with
their future partners. "Discussions will get underway soon but
no specific choice (of broker) has been made yet," a spokesman
for Credit Lyonnais who declined to be named said.
    Balladur's project does not touch on dealing commissions
but many dealers said the question had to be addressed since
current bank commission was higher than that of brokers because
banks, who cannot deal directly in shares, have to pay a fee to
the broker they use for customer trading.
    According to a study by the Bourse official watchdog body
COB in January, dealing fees on a transaction in shares for a
gross total of 1,000 francs were 14.86 pct if the order was
placed directly by a broker, against 20.79 pct for the same
order passed through a bank.
    Xavier Dupont, Chairman of the Stockbrokers' Association,
said the reform would not mean an end to the fixed scale of
commissions. He said the overall reform would give the French
financial markets a "dynamic and efficient organisation." But as
both brokers and bankers commented, "let's wait and see."
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9044" NEWID="4131">
<DATE>12-MAR-1987 07:40:17.27</DATE>
<TOPICS><D>money-fx</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;f0612&#31;reute
b f BC-U.K.-MONEY-MARKET-GIV   03-12 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. MONEY MARKET GIVEN FURTHER 442 MLN STG HELP</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>The Bank of England said it provided the
market with a further 442 mln stg assistance during the morning
to offset a liquidity shortage it estimated at 1.60 billion
stg, revised up from 1.55 billion
    The bank bought outright eight mln stg of band one treasury
bills and five mln stg of band one bank bills at 10-3/8 pct.
    It bought a further 429 mln stg of bills for resale to the
discount houses on April 2 at an interest rate of 10-7/16 pct.
    So far today, the bank has given the market assistance
worth a total of 1.501 billion stg.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9045" NEWID="4132">
<DATE>12-MAR-1987 07:48:29.24</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0627&#31;reute
u f BC-JACOBS-SUCHARD-EXPECT   03-12 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>JACOBS SUCHARD EXPECTS ANOTHER EXCELLENT YEAR</TITLE>
<DATELINE>    ZURICH, March 12 - </DATELINE><BODY>Jacobs Suchard AG &lt;JACZ.Z> hopes for
another excellent year in 1987 after a 27 pct increase in 1986
net profit. Results in the first few months show it heading in
the right direction, company president Klaus Jacobs said.
    The group reported 1986 net profit of 190.9 mln Swiss
francs compared with 150.4 mln in 1985 and raised its dividend
per bearer share to 160 francs from 155 francs.
    Jacobs said the increase in profit, which far exceeded the
company's target of five pct real annual growth, had been made
possible by restructuring measures introduced in January 1986
which had also made some major acquisitions possible last year.
    Hermann Pohl, general director in charge of economic
affairs, said the 2.7 pct decline in group turnover to 5.24
billion francs was due to currency factors.
    A 5.2 pct negative currency influence was partially offset
by growth in operations and by structural changes within the
group.
    Turnover in the coffee business fell to 3.10 billion francs
from 3.56 billion in 1985 while turnover in the chocolate
sector rose to 2.14 billion francs from 1.82 billion. The
tonnage sold in both sectors declined due to higher prices and
lower consumer demand, especially in France and West Germany.
    Jacobs Suchard increased its market share in West Germany
to 44.9 pct from 39.9 pct in 1985, largely as a result of
acquisitions. Market share in France was little changed at 25
pct against 25.3 pct.
    Pohl said the group's average tax rate rose to 32.5 pct
from 28.8 pct because of the higher profits and despite
write-offs on the losses of new acquisitions. A further
increase in tax levels was expected in future.
    Taxes jumped 51.3 pct to 92 mln francs in 1986 from 61 mln
the previous year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9046" NEWID="4133">
<DATE>12-MAR-1987 07:50:16.21</DATE>
<TOPICS><D>grain</D><D>corn</D><D>rice</D><D>oilseed</D><D>soybean</D><D>orange</D></TOPICS>
<PLACES><D>japan</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0632&#31;reute
r f BC-JAPAN-FIRM-PLANS-TO-S   03-12 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN FIRM PLANS TO SELL U.S. FARMLAND TO JAPANESE</TITLE>
<DATELINE>    MORIOKA, Japan, March 12 - </DATELINE><BODY>A Japanese real estate company
said it will launch a campaign to sell land in U.S. Farming
areas to rich Japanese.
    Higashi Nippon House said it would offer around 2,200 acres
of land in Illinois, California, Florida and Indiana from early
April to gauge response. It set up International Farm Corp of
America in Chicago last September to oversee the operation.
    American farmers would continue as working tenants and part
of the profits from harvests of rice, corn, soybean and oranges
would go to the Japanese investors as rental.
    Japanese Agriculture Ministry officials told Reuters sales
were limited to farmers to keep land in agricultural use.
    "Two years ago, I began to seek my own farmland in Japan,"
said Isao Nakamura, president of Higashi Nippon. "However, sale
of Japanese farmland is strictly controlled by the government,
so I began to look for the land in the U.S to make my dream to
own farm land come true."
    Nakamura said hundreds of companies exist in the U.S. To
sell farmland to investors as more and more farmers face
difficulties due to the recession in U.S. Agriculture.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9047" NEWID="4134">
<DATE>12-MAR-1987 07:51:54.96</DATE>
<TOPICS></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM F
&#22;&#22;&#1;f0637&#31;reute
u f BC-FIAT-HAS-NO-COMMENT-O   03-12 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>FIAT HAS NO COMMENT ON REPORTED BOND ISSUE PLAN</TITLE>
<DATELINE>    MILAN, March 12 - </DATELINE><BODY>Fiat SpA &lt;FIAT.MI> declined to confirm or
deny an Italian newspaper report that it was studying the
possibility of issuing a convertible bond.
    The Milan daily, Il Giornale, said a convertible bond issue
was under study but gave no details.
    A Fiat spokesman contacted by Reuters said only that the
report was "one of the typical rumours which circulate on the
bourse."
    Senior sources at the Milan investment bank Sige, which Il
Giornale said was involved in the planning along with
Mediobanca - Banca di Credito Finanziario SpA and IMI -
Istituto Mobiliare Italiano, said they were unaware of any such
project.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9048" NEWID="4135">
<DATE>12-MAR-1987 08:06:42.75</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;f0673&#31;reute
r f BC-TAFT-&lt;TFB>-REJECTS-14   03-12 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>TAFT &lt;TFB> REJECTS 145 DLR/SHR OFFER</TITLE>
<DATELINE>    CINCINNATI, Ohio, March 12 - </DATELINE><BODY>Taft Broadacasting Co said its
board of directors unanimously decided not to accept the
pending buyout proposal of &lt;Theta Corp>, an investor group led
by Dudley Taft.
    The decision was based on, among other things, the advice
of its financial advisors, Goldman Sachs and Co, that the offer
of 145 dlrs per share was inadequate.
    Taft said the board concluded that the offer failed to
recognize fully the future propsects of the company and
directed management to explore alternatives including possible
financial restructuring.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9049" NEWID="4136">
<DATE>12-MAR-1987 08:09:13.33</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D><D>brazil</D><D>mexico</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0680&#31;reute
u f BC-DRESDNER-BANK-UNIT-SA   03-12 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>DRESDNER BANK UNIT SAYS NOT WORRIED ON BRAZIL DEBT</TITLE>
<DATELINE>    HAMBURG, March 12 - </DATELINE><BODY>Deutsch-Suedamerikanische Bank AG, a
wholly owned subsidiary of Dresdner Bank AG &lt;DRSD.F>, said it
was not worried about Brazil stopping its interest payments.
    Board member Herbert Mittendorf told a news conference that
Brazil's example was unlikely to be followed by other Latin
American countries.
    He pointed out that the region's debt rose by only 2.8 pct
last year to a total 396 billion dlrs. The countries' efforts
to further economic growth and to consolidate budgets were "not
unsuccessful." But the slump in oil prices and the decline in
commodity prices hampered these efforts, he said.
    Latin American countries' exports fell last year by about
16 pct to 80 billion dlrs, with imports declining slightly to
around 65 billion dlrs, Mittendorf said.
    The region's 1986 trade surplus was halved to an estimated
15 billion dlrs, he said. The cut in exchange earnings of oil
exporting countries was only partly offset by the advantages
gained by the region's oil importing states, he noted.
    The region's principal debtors are Brazil and Mexico, each
owing about 100 billion dlrs at the end of last year, followed
by Argentina with around 49 billion dlrs, Venezuela with 33
billion and Chile with 20 billion dlrs debt.
    Deutsch-Suedamerikanische Bank welcomed Mexico joining the
General Agreement on Tariffs and Trade (GATT) in mid 1986,
which it saw as an effort to integrate the country to a larger
extent into the world economy.
    However, realistic exchange rates were needed if the debtor
countries were to compete in the world market, Mittendorf said.
    In this respect an easing of protectionist barriers was
imperative, he said.
    The conversion of debt into equity was regarded as an
important additional step towards debt consolidation.
    West German exports to Latin America declined by 4.1 pct in
1986 to 11 billion marks. Shipments to Mexico fell 19 pct to
1.9 billion marks and to Colombia by 15 pct to 600 mln marks,
Mittendorf said.
    Exports to Bolivia, Chile, Ecuador and Central America were
also lower last year than in 1985, while shipments to Brazil
rose 11.5 pct to around two billion marks. Exports to Argentina
went up by over three pct to 1.5 billion marks and those to
Paraguay surged by 42 pct to 106 mln marks, he said.
    Brazil was West Germany's main Latin American supplier, but
shipments fell to 4.4 billion marks from 6.4 billion in 1985.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9050" NEWID="4137">
<DATE>12-MAR-1987 08:15:55.79</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>lse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0699&#31;reute
r f BC-U.K.-GILT-MARKET-TURN   03-12 0118</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. GILT MARKET TURNOVER EASES IN FEBRUARY</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>Turnover in the U.K. Government bond
(gilt) market in February slipped to 81.25 billion stg from
January's 83.37 billion, although it was 165 pct higher than
the 30.63 billion in February 1986, the Stock Exchange said.
    The Stock Exchange noted, however, that turnover between
bond market-makers through the inter-dealer broker (IDB) screen
system, as distinct from business with outside clients, has
only been included from October 1986, meaning that prior data
is not strictly comparable with recent figures.
    The contribution to overall February, 1987 volume from IDB
 business was 43.10 billion stg, against 43.19 in January.
    In the 20 trading days of February, the average daily
volume of business was 4.06 billion stg, against an average of
3.97 billion in January, which had 21 trading days.
    Total Stock Exchange turnover for the month was 116.73
billion stg, marginally higher than the 116.65 billion recorded
in January but 129 pct more than the 50.92 billion of February
1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9051" NEWID="4138">
<DATE>12-MAR-1987 08:20:06.05</DATE>
<TOPICS><D>veg-oil</D><D>palm-oil</D></TOPICS>
<PLACES><D>pakistan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0710&#31;reute
u f BC-PAKISTAN-COULD-IMPORT   03-12 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>PAKISTAN COULD IMPORT 100,000 TONNES OF PALM OIL</TITLE>
<DATELINE>    KARACHI, March 12 - </DATELINE><BODY>Pakistan is likely to import 100,000
tonnes of refined, bleached and deodorised palm oil between
April and June this year, vegetable oil dealers said.
    They said the import would be financed by the Islamic
Development Bank (IDB) which signed an agreement with Pakistan
earlier this week in Jeddah, Saudi Arabia.
    Pakistan had imported 600,000 tonnes of edible oil since
the beginning of the current financial year last July, they
added. The palm oil would come from Malaysia or Indonesia.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9052" NEWID="4139">
<DATE>12-MAR-1987 08:20:55.91</DATE>
<TOPICS><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;A
&#22;&#22;&#1;f0714&#31;reute
u f BC-TREASURY-SECRETARY-BA   03-12 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>TREASURY SECRETARY BAKER DECLINES COMMENT ON G-6</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>U.S. Treasury Secretary James Baker
declined comment on the February 22 Paris accord between the
six major industrial nations under which they agreed to foster
exchange rate stability.
    Asked by reporters after a speech before the National
Fitness Foundation banquet what, if any, currency intervention
levels had been set in Paris, Baker replied: "We never talk
about intervention."
    Baker also declined to comment on his views about the
foreign exchange markets' reaction to the accord.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9053" NEWID="4140">
<DATE>12-MAR-1987 08:21:05.89</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0715&#31;reute
r f BC-JENNIFER-CONVERTIBLES   03-12 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>JENNIFER CONVERTIBLES &lt;JENN>INITIAL OFFER STARTS</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Jennifer Convertibles Inc said an
initial public offering of 500,000 units is underway at eight
dlrs each through underwriters led by Evans and Co Inc.
    Each unit consists of two common shares and one redeemable
Class A warrant enabling the holder to buy one common share at
five dlrs until March 11, 1992.
    The shares and warrants are immediately separately
transferable.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9054" NEWID="4141">
<DATE>12-MAR-1987 08:21:21.00</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;f0717&#31;reute
d f BC-BEL-FUSE-INC-&lt;BELF>-4   03-12 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>BEL FUSE INC &lt;BELF> 4TH QTR NET</TITLE>
<DATELINE>    JERSEY CITY, N.J., March 12 -
    </DATELINE><BODY>Shr 22 cts vs 13 cts
    Net 1,063,000 vs 639,000
    Sales 7,489,000 vs 4,656,000
    Year
    Shr 55 cts vs 28 cts
    Net 2,633,000 vs 1,343,000
    Sales 23.3 mln vs 17.9 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9055" NEWID="4142">
<DATE>12-MAR-1987 08:21:26.01</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;f0718&#31;reute
r f BC-SOUTHWEST-REALTY-&lt;SWL   03-12 0036</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTHWEST REALTY &lt;SWL> YEAR LOSS</TITLE>
<DATELINE>    DALLAS, March 12 -
    </DATELINE><BODY>Shr loss 44 cts vs profit 1.13 dlrs
    Net loss 1,544,000 vs profit 3,912,000
    NOTE: Cash flow 1,010,000 dlrs or 29 cts shr vs 2,835,000
dlrs or 82 cts shr.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9056" NEWID="4143">
<DATE>12-MAR-1987 08:21:38.02</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;f0719&#31;reute
r f BC-SOUTHWEST-REALTY-&lt;SWL   03-12 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTHWEST REALTY &lt;SWL> HAS LIQUIDITY PROBLEMS</TITLE>
<DATELINE>    DALLAS, March 11 - </DATELINE><BODY>Southwest Realty Ltd said it believes it
could make all of its scheduled montly debt service payments
for 1987 despite the falloff in its rental operations, but
making the payments would probably severely impair its
liquidity and restrict its ability to maintain the quality of
its properties.
    The company today reported a 1986 loss of 1,544,000 dlrs
compared with a 1985 profit of 3,912,000 dlrs.
    Southwest said in addition to its monthly scheduyled debt
service payments, a 1,743,000 dlr loan on one of its Houston
properties is due to mature on April One.
    Southwest said a commitment to reduce the interest rate and
extend the Houston loan for one year has been accepted.
    It said talks are underway with lenders on other Houston
properties to obtain partial debt service moratoriums which, if
granted, would cut 1987 cash deficits from 1986 levels.  The
loan renegotiations could involve bankruptcy or other
litigation connected with the specific properties involved and
could involve the suspension of interest and principal payments
to some of the lenders.  Southwest said if the attempts to
restructure debt do not succeed, it could lose one or more of
the properties.
    Southwest said the Houston properties made up about 10 pct
of its current value equity as of December 31 of 14.20 dlrs per
share, down from 16.68 dlrs a year before.
    The company said depending on the success of the talks and
operating results for 1987, one or two more properties could
become subject to similar negotiations.  The two additional
properties comprised about 11 pct of its current value equity
at year-end, Southwest said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9057" NEWID="4144">
<DATE>12-MAR-1987 08:22:13.79</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;f0724&#31;reute
s f BC-D.H.-HOLMES-CO-LTD-&lt;H   03-12 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>D.H. HOLMES CO LTD &lt;HLME> SETS PAYOUT</TITLE>
<DATELINE>    NEW ORLEANS, March 12 -
    </DATELINE><BODY>Qtly div 12-1/2 cts vs 12-1/2 cts prior
    Pay April One
    Record March 20
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9058" NEWID="4145">
<DATE>12-MAR-1987 08:24:35.74</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;f0727&#31;reute
r f BC-POPE-EVANS-&lt;PER>-REPU   03-12 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>POPE EVANS &lt;PER> REPURCHASES SHARES</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Pope, Evans and Robbins Inc said it
has repurchased 780,000 common shares from Putnam Mills Corp
principals Sidney and Peter Kaplan for 2.25 dlrs per share.
    It said the purchase price will be applied against the
1,700,000 dlrs Putnam Mills currently owes Pope Evans for
merchandise.  Pope Evans has about 7.6 mln shares outstanding.
    The company also said it has agreed in principle to acquire
privately-held Pat Fashions Industries Inc for 18 mln dlrs in
cash and notes, with financing to come partly from bank
borrowings, subject to approval by the Pope Evans board and Pat
shareholders.
    Pat Fashions imports apparel from the Far East and makes
apparel domestically as well.  In the year ended November 30,
Pat earned 5,400,000 dlrs pretax on sales of 83.0 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9059" NEWID="4146">
<DATE>12-MAR-1987 08:25:33.47</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;f0735&#31;reute
u f BC-BAIRD-&lt;BATM>-GETS-TEM   03-12 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>BAIRD &lt;BATM> GETS TEMPORARY RESTRAINING ORDER</TITLE>
<DATELINE>    BOSTON, March 12 - </DATELINE><BODY>Baird Corp said the Massachusetts state
court for Suffolk county has granted it a temporary restraining
order prohibiting Mark IV Industries Inc &lt;IV> from further
purchases of Baird stock until Mark IV complies with the
Massachusetts Anti-Takeover Statute.
    The company said Mark IV currently owns at least 17.6 pct
of Baird stock and has indicated that it may attempt to acquire
Baird.
    Baird said the U.S. District Court in Boston has denied
Mark IV's application for a temporary restraining order to
prevent enforcement of the Massachusetts takeover law.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9060" NEWID="4147">
<DATE>12-MAR-1987 08:25:44.41</DATE>
<TOPICS><D>cocoa</D><D>coffee</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0736&#31;reute
u f BC-JACOBS-SUCHARD-SEES-1   03-12 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>JACOBS SUCHARD SEES 100,000 TONNE COCOA SURPLUS</TITLE>
<DATELINE>    ZURICH, March 12 - </DATELINE><BODY>Jacobs Suchard AG expects a world cocoa
surplus of around 100,000 tonnes in 1987 compared with a
104,000 tonne surplus in 1986, Jens Sroka, head of commodity
buying, told a news conference.
    The company expects prices to remain at around current
levels despite the likelihood of agreement on buffer stock
rules at the forthcoming London cocoa talks, and believes
market intervention by the buffer stock manager would stabilise
prices.
    Sroka said world coffee prices are expected to remain weak
if any international coffee talks fail to produce agreement.
    Sroka said stagnating consumption and slight overproduction
will continue to weigh on coffee prices and he forecast a
continued build-up in stocks.
    The recent failure of the London coffee talks had surprised
market observers.
    Unless reason prevails and the major producers return to
the conference table, the world coffee market will remain free
and the consequences for some producers dependant on coffee for
their foreign exchange earnings would be catastrophic, Sroka
added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9061" NEWID="4148">
<DATE>12-MAR-1987 08:26:04.18</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0738&#31;reute
f f BC-******DUDLEY-TAFT-AND   03-12 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>DUDLEY TAFT AND NARRAGANSETT CAPITAL TO PURSUE TAFT BROADCASTING BID
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9062" NEWID="4149">
<DATE>12-MAR-1987 08:26:44.35</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>south-africa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0741&#31;reute
d f BC-GENERAL-MINING-UNION   03-12 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL MINING UNION CORP LTD (GENM.J) YEAR NET</TITLE>
<DATELINE>    JOHANNESBURG, March 12 -
    </DATELINE><BODY>Shr 616 cts vs 481
    Final div 150 cts vs 140, making 230 vs 195
    Pre-tax 705.4 mln rand vs 485.2 mln
    Net 591.7 mln vs 458.0 mln
    Tax 79.2 mln vs 82.2 mln
    Attrib to outside shareholders 123.7 mln vs 52.3 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9063" NEWID="4150">
<DATE>12-MAR-1987 08:31:00.00</DATE>
<TOPICS><D>retail</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0751&#31;reute
f f BC-******U.S.-RETAIL-SAL   03-12 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. RETAIL SALES ROSE 4.1 PCT IN FEB, NON-AUTO SALES ROSE 1.5 PCT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9064" NEWID="4151">
<DATE>12-MAR-1987 08:31:27.61</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0753&#31;reute
d f BC-CALIFORNIA-WORKERS-EN   03-12 0124</UNKNOWN>
<TEXT>&#2;
<TITLE>CALIFORNIA WORKERS END LONG CANNERY STRIKE</TITLE>
<DATELINE>    WATSONVILLE, Calif, March 12 - </DATELINE><BODY>An 18-month strike against
Watsonville Canning and Frozen Foods, one of California's
largest food processors, ended with workers overwhelmingly
ratifying a new contract.
    More than 1,000 workers walked off their jobs in September
1985 after Watsonville Canning cut their wages from 6.66 dlrs
an hour to 4.85 dlrs.
    Watsonville declared bankruptcy last week and the cannery
was taken over by Norcal Frozen Foods Inc., a consortium of
growers. A spokeswoman for Teamsters Local 912 said the workers
voted 543-21 in favor of a new contract.
    The Norcal offer provides a 5.85 dlrs-per-hour wage with no
additional benefits for most workers for up to three years.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9065" NEWID="4152">
<DATE>12-MAR-1987 08:37:47.84</DATE>
<TOPICS><D>retail</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0785&#31;reute
b f BC-/U.S.-RETAIL-SALES-RI   03-12 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. RETAIL SALES RISE 4.1 PCT IN FEBRUARY</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>U.S. retail sales rose 4.77 billion
dlrs, or 4.1 pct, in February to a seasonally adjusted 122.29
billion dlrs, the Commerce Department said.
    The increase came after a revised 7.4 pct drop in January
sales to a level of 117.52 billion dlrs. The department
previously reported January retail sales fell 5.8 pct.
    Excluding autos, retail sales in February were up 1.5 pct
after falling by a revised 0.4 pct in January.
    Department spokesmen said the major cause for the revision
downward in January sales was a weaker January auto dealer
sales figure than originally estimated.
    Auto dealer sales were 26.91 billion dlrs in February, a
14.4 pct rise from January levels. But January sales dropped by
27.7 pct from December levels to 23.52 billion dlrs, more than
the 22.4 pct fall originally reported.
    The expiration of the sales tax deduction under new tax
laws on January 1 was the main reason for the drop in January
sales, department spokesmen said.
    Sales of durable goods rose in February by 8.8 pct to 46.72
billion dlrs after dropping by 17.7 pct in January.
    Building materials rose 1.8 pct in February after falling
by 1.7 pct in January.
    Non-durable goods sales rose by 1.3 pct to 75.58 billion
dlrs in February after falling by 0.2 pct in January, the
department said.
    General merchandise stores rose 1.4 pct after increasing
sales by 1.6 pct in January, and department stores were up two
pct in February after rising 1.5 pct in January.
    Food store sales increased 0.4 pct after declining by 1.0
pct in January, while grocery store sales increased 0.3 pct in
February after falling 0.6 pct in January.
    Gasoline service station sales rose 2.0 pct in February
after a 1.9 pct January increase.
    Apparel store sales were up 0.8 pct last month after
falling 3.0 pct in January, while sales at eating and drinking
places increased 1.5 pct after rising 0.5 pct in January.
    February's retail sales were 4.4 pct above the year-ago
level of 117.09 billion dlrs, the department said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9066" NEWID="4153">
<DATE>12-MAR-1987 08:39:05.29</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;f0786&#31;reute
u f BC-DUDLEY-TAFT-TO-PURSUE   03-12 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>DUDLEY TAFT TO PURSUE TAFT BROADCAST &lt;TFB> BID</TITLE>
<DATELINE>    CINCINNATI, March 12 - </DATELINE><BODY>Taft Broadcasting Co vice chairman
Dudley Taft and Narragansett Capital Inc &lt;NARR> said they
intend to pursue their effort to acquire Taft Broadcasting
despite the rejection yesterday of their 145 dlr per share
offer by the Taft Broadcasting board.
    Dudley Taft and Narragansett, in a joint statement, said
they intend to explore alternatives to achieve the acquisition,
including further talks with Taft Broadcasting.
    They said they are confident that the Taft Broadcasting
board will conclude that the resolution of the company's
current "unstable situation" as quickly as possible is in the
best interests of all parties.
    They said the Taft board did not conclude that their offer
was not fair to Taft shareholders.  Taft Broadcasting
yesterday, however, said financial advisor Goldman, Sachs and
Co found the offer to be inadequate.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9067" NEWID="4154">
<DATE>12-MAR-1987 08:40:31.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</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;f0788&#31;reute
d f BC-CBT-HEAD-SAYS-POSITIO   03-12 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>CBT HEAD SAYS POSITION LIMITS HAVE NO PURPOSE</TITLE>
<AUTHOR>    By Bruce Clark, Reuters</AUTHOR>
<DATELINE>    CHICAGO, March 12 - </DATELINE><BODY>The Commodity Futures Trading
Commission, CFTC, should increase speculative position limits
on agricultural futures and do away with them for financial
futures, Chicago Board of Trade, CBT, chairman Karsten Mahlmann
said.
    Reporting to the CFTC Financial Products Advisory Committee
on the conclusions so far of an ad hoc CBT committee on
off-exchange trading issues, Mahlmann said, "We came to the
conclusion that no meaningful purpose is served by speculative
position limits."
    Position limits were supposed to prevent market
manipulation, but "I would submit that the Exchange and the
CFTC currently have all the tools necessary to prevent market
manipulation, whether an account is speculative or a hedge,"
the CBT chairman said.
    Malmann said the issue was of particular concern to the CBT
because the exchange faced increasing competition from foreign
markets, most of which did not have position limits.
    He said the ad hoc committee, which he also chairs, had
agreed to propose that the definition of hedging be expanded to
include risk management as well as risk reduction.
    Mahlmann said there was a danger that if a category of
trading was given a name such as "non-speculative hedging,"
insurance companies and pension funds might be held back from
engaging in it by the regulatory bodies that govern such
entities.
    The ad hoc committee proposed the establishment of
"prudence guidelines" and a list of market activities that fell
within those lines which might be lengthened in the future, he
said.
    The committee might also propose that CBT itself be allowed
to enforce position limits on agricultural futures, he added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9068" NEWID="4155">
<DATE>12-MAR-1987 08:42:14.38</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;f0793&#31;reute
r f BC-HARPER-GROUP-&lt;HARG>-4   03-12 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>HARPER GROUP &lt;HARG> 4TH QTR NET</TITLE>
<DATELINE>    SAN FRANCISCO, March 12 -
    </DATELINE><BODY>Shr 24 cts vs 31 cts
    Net 2,245,000 vs 2,885,000
    Revs 50.7 mln vs 46.5 mln
    Avg shrs 9,396,000 vs 9,270,000
    Year
    Oper shr 96 cts vs 99 cts
    Oper net 8,994,000 vs 9,220,000
    Revs 191.5 mln vs 174.7 mln
    Avg shrs 9,394,000 vs 9,282,000
    NOTE: 1985 year net excludes 1,360,000 dlr loss from
discontinued operations.
    Share adjusted for three-for-two stock split.    
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9069" NEWID="4156">
<DATE>12-MAR-1987 08:50:08.10</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>canada</D><D>usa</D></PLACES>
<PEOPLE><D>mulroney</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f0808&#31;reute
r f PM-PREMIERS   03-12 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA LEADERS FAIL TO SET PACT ON FREE TRADE</TITLE>
<AUTHOR>    By Russell Blinch</AUTHOR>
<DATELINE>    OTTAWA, March 12 - </DATELINE><BODY>Prime Minister Brian Mulroney said he
held "frank" discussions with the Canadian province premiers on
the pace of free trade talks with the United States, but the
longstanding issue of provincial ratification remains to be
settled.
    Speaking to reporters after nearly five hours of meetings
with the 10 premiers, Mulroney said further discussions would
be held in June and September to discuss the role of the
provinces in approving any new trade deal.
    But he maintained progress was being made in the sweeping
talks with the Unites States that got under nearly two years
ago.
    "It appears reasonable progress is being made (in the
talks)," Mulroney said.
    Alberta Premier Don Getty agreed, "Things are running pretty
quickly now."
    The talks, launched by Mulroney's Progressive Conservative
government after concerns about protectionist sentiment in the
U.S., are aimed reducing the remaining barriers between the
world's largest trading partnership.
    But the provinces are expected to play a major role in any
new trading arrangement, and some of the provincial leaders
complained of a lack of progress on reaching a ratification
formula.
    "It's my view that we should be thinking about these things
right now, along with the questions of the substance of the
agreement," commented Ontario Premier David Peterson, who has
been highly critical of the talks in the past.
    But Newfoundland Premier Brian Peckford said an agreement
was more likely to emerge by consensus and there would be no
need for a "hard and fast formula."
    Peckford said it appears Canada is prepared to make
concessions to the United States on financial services in order
to make inroads on other bargaining areas, such as agriculture.
    Canadian published reports, quoting government sources, say
the two countries are close to reaching a trade deal and it
will involve eliminating border tariffs and many non-tariff
barriers over the next 10 to 12 years.
    A rough draft of the accord is expected to be presented to
the premiers at the June meeting while the finished document is
hoped to be presented to Congress in October.
    "It's a very tight time frame," Ontario's Peterson said last
night. "But at this moment it is tough to say what will
transpire."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9070" NEWID="4157">
<DATE>12-MAR-1987 08:51:25.73</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;f0812&#31;reute
d f BC-HEALTHSOUTH-REHABILIT   03-12 0051</UNKNOWN>
<TEXT>&#2;
<TITLE>HEALTHSOUTH REHABILITATION CORP &lt;HSRC> 4TH QTR</TITLE>
<DATELINE>    BIRMINGHAM, Ala., March 12 -
    </DATELINE><BODY>Shr profit eight cts vs loss 10 cts
    Net profit 622,000 vs loss 564,000
    Revs 7,508,000 vs 1,913,000
    Year
    Shr profit 15 cts vs loss 28 cts
    Net profit 933,000 vs loss 1,548,000
    Revs 19.8 mln vs 4,799,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9071" NEWID="4158">
<DATE>12-MAR-1987 08:53:26.24</DATE>
<TOPICS><D>acq</D><D>trade</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;f0818&#31;reute
r f PM-SEMICONDUCTORS   03-12 0123</UNKNOWN>
<TEXT>&#2;
<TITLE>BALDRIGE OPPOSES JAPANESE PURCHASE OF FIRM</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>Commerce Secretary Malcolm Baldrige
has asked the White House to consider blocking the planned
Japanese acquisition of a major U.S. supercomputer and
semiconductor manufacturer for national security reasons, U.S.
officials said.
    The officials, who asked not to be named, said yesterday
that Baldrige has "serious concerns" about the sale of Fairchild
Semiconductor Corp. to Fujitsu Ltd., another major electronics
firm.
    The officials told Reuters that if the sale went through it
could leave the U.S. military overly dependent on a foreign
/ompany for vital high technology equipment used in its
advanced missiles, aircraft electronics and intelligence
gathering.
    In addition, they said, the sale would also worsen the
already strained trade relations between the U.S. and Japan
stemming from the huge Japanese surplus.
    The White House Economic Policy Council would consider the
sale in the coming weeks, they said.
    Defense Secretary Caspar Weinberger's position was not
immediately known but in the past he has opposed the transfer
of high technology to foreign governments and companies.
    Supercomputers made by Fairchild and other U.S.
manufacturers are widely used throughout the world, but none
have been sold to the Japanese government or to Japanese
government-run agencies and universities.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9072" NEWID="4159">
<DATE>12-MAR-1987 08:54:32.55</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;f0822&#31;reute
d f BC-FIRST-UNION-&lt;FUNC>-AC   03-12 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST UNION &lt;FUNC> ACQUISITION ADVANCES</TITLE>
<DATELINE>    JACKSONVILLE, Fla., March 12 - </DATELINE><BODY>First Union Corp said
shareholders of First North Port Bancorp of Northport, Fla.,
have approved a merger into First Union for 40 dlrs per share,
or about 5,100,000 dlrs.
    The company said the acquisition is still subject to
regulatory approvals and is expected to be completed during the
second quarter.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9073" NEWID="4160">
<DATE>12-MAR-1987 08:55:44.03</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;f0823&#31;reute
d f BC-SAND-TECHNOLOGY-&lt;SNDC   03-12 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>SAND TECHNOLOGY &lt;SNDCF> MULLING REVERSE SPLIT</TITLE>
<AUTHOR>    By Solange De Santis</AUTHOR>
<DATELINE>    Toronto, March 11 - </DATELINE><BODY>Sand Technology Systems Inc said it is
considering a reverse stock split of at least one-for-10 and
expects to report a second-quarter profit, compared to a loss
last year.
    The stock consolidation "is something we're discussing, but
it's not definite," Sand Technology president Jerry Shattner
told Reuters in an interview.
    A private placement recently brought the number of
outstanding shares to 106 mln, up from 97.1 mln shares on July
31, 1986, the fiscal yearend.
    "The company has always had the aura of a penny stock,"
Shattner said, adding that Sand plans, at some time, to apply
for listing on the Montreal Stock Exchange.
    Shattner said the company expects to report a profit of
five pct, or about 350,000 dlrs, on sales of seven mln dlrs,
for the second quarter ended January 31. Results for the third
quarter should be about the same as the second, he added.
    Last year, Sand lost 243,064 dlrs on revenues of 7,012,195
dlrs in the second quarter.
    After "a disastrous first quarter," Sand hopes to break even
in the current fiscal year, Shattner said. The company has
scaled back its sales forecast to about 25 mln dlrs, from the
33.5 mln dlrs projected in December.
    The rapid appreciation of the Japanese yen against U.S. and
Canadian dollars last year led to Sand's loss of 2.1 mln dlrs,
or two cts per share, on sales of 24.9 mln dlrs.
    In the first fiscal quarter this year, the company lost
1,350,387 dlrs, or one ct per share, on sales of 3,570,585
dlrs.
    Shattner believes the company will post better results this
year due to several factors.
    "Last year, one of our biggest problems was we were buying
products in Japanese yen. We now buy some products from Hitachi
in U.S. dollars and the results are starting to show up in the
second quarter," he said.
    Sand Technology sells, under its trademark, computer
accessories such as disk drives, solid-state memory enhancement
devices and printers manufactured by Hitachi Ltd &lt;HIT> of
Japan.
    Shattner said Sand's affiliate in Detroit, ST Systems Inc,
is developing software that lets large maniframe computers
handle large databases and share them between applications.
    It is also distributing a new product called Sapiens, which
is artificial intelligence computer language for use by major
corporations.
    The company has also reduced costs through some staff
cutting and a switch to profit sharing plans for sales staff
instead of straight commissions, Shattner said.
    And Sand plans to market a laser printer in the fourth
fiscal quarter, Shattner said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9074" NEWID="4161">
<DATE>12-MAR-1987 08:56:15.01</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;f0826&#31;reute
d f BC-&lt;CONCORDE-VENTURES-IN   03-12 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;CONCORDE VENTURES INC> IN MERGER AGREEMENT</TITLE>
<DATELINE>    DENVER, March 12 - </DATELINE><BODY>Concorde Ventures Inc said it has signed
a letter of intent to acquire Englewood, Colo., homebuilder
Winley Inc for 12 mln common shares.
    The investment company said after the merger the combined
company will have 15 mln shares outstanding.
    For the year ended January 31, Winley earned 116,000 dlrs
pretax on revenues of 11.7 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9075" NEWID="4162">
<DATE>12-MAR-1987 08:56:38.50</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;E F Y
&#22;&#22;&#1;f0827&#31;reute
d f BC-DUNE-RESOURCES-&lt;DNLAF   03-12 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>DUNE RESOURCES &lt;DNLAF> RESERVES ROSE IN 1986</TITLE>
<DATELINE>    OKLAHOMA CITY, March 11 - </DATELINE><BODY>Dune Resources Ltd said its oil
reserves increased 225 pct during 1986 while its natural gas
reserves were up six pct.
    The company said its proven oil reserves were estimated at
605,682 barrels on December 31, up from 186,655 barrels a year
earlier boosted by discoveries during the year put at 423,659
barrels.
    It said gas reserves rose to 8.8 mln cubic feet from 8.3
mln on Dec 31, 1985, as discoveries of nearly 1.3 mln cubic
feet were partialy offset by production of 287,391 cubic feet
and downward revisions of previous estimates totaling 491,694
cubic feet.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9076" NEWID="4163">
<DATE>12-MAR-1987 08:58:38.29</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;f0833&#31;reute
h f BC-DEUTSCHE-BABCOCK,-KWU   03-12 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>DEUTSCHE BABCOCK, KWU SHARE BILLION MARK CONTRACT</TITLE>
<DATELINE>    OBERHAUSEN, West Germany, March 12 - </DATELINE><BODY>Deutsche Babcock AG
&lt;DBCG.F> said it and Siemens AG &lt;SIEG.F> subsidiary Kraftwerk
Union AG &lt;KAWG.F>, KWU, have won an order from the city of
Munich for an electricity and heating-generating plant which
company sources said was worth slightly more than one billion
marks.
    A Babcock statement said its share of the order alone was
worth 800 mln marks, the largest domestic contract it has ever
received.
    It gave no figure for KWU's share but company sources said
the total order was worth slightly more than one billion marks.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9077" NEWID="4164">
<DATE>12-MAR-1987 08:59:23.91</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0834&#31;reute
f f BC-******BORG-WARNER-TO   03-12 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BORG-WARNER TO SELL INDUSTRIAL PRODUCTS BUSINESS FOR ABOUT 240 MLN DLRS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9078" NEWID="4165">
<DATE>12-MAR-1987 09:01:08.51</DATE>
<TOPICS><D>gnp</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0838&#31;reute
r f BC-JAPAN-ECONOMY-MAY-BE   03-12 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN ECONOMY MAY BE NEAR BOTTOM, ECONOMISTS SAY</TITLE>
<AUTHOR>    By Rich Miller, Reuters</AUTHOR>
<DATELINE>    TOKYO, March 12 - </DATELINE><BODY>The worst may be just about over for
Japan's battered economy but economists said they do not expect
a vigorous recovery anytime soon. Japanese bank economists
polled by Reuters said the economy's 18 month-old slowdown is
likely to end in the first half of this year, helped by rising
exports, stepped-up government spending and falling prices. "The
economy will bottom out in the middle of the year," said
Sumitomo Bank Ltd chief economist, Masahiko Koido.
    Industrial Bank of Japan Ltd senior economist Susumu
Taketomi agreed. "It (the bottom) is in the offing," he said.
    But he added that the recovery will be slow. Growth in the
fiscal year beginning next month will only pick-up 2.2 pct,
from two pct in the current year, he said.
    Signs that the economy has just about weathered the worst
are increasing.
    The volume of exports in the first two months of the year
rose slightly on a year-on-year basis, after declining toward
the end of last year.
    Although this may be due to extraordinary factors such as a
sharp rise in car exports to rebuild depleted European stocks,
several economists said it could mark the beginning of a
recovery.
    Industrial production fell 0.7 pct in January, much smaller
than expected, and is forecast by the government to rise 0.3
pct in February and 2.6 pct in March. A Bank of Japan survey
released last week showed that the decline in Japanese
corporate earnings may be nearing its end.
    And the Paris currency accord last month has fostered hopes
the rapid yen rise has come to the end, they said.
    Six nations - the U.K., Canada, France, Japan, the U.S. And
West Germany - pledged in Paris last month to stabilise
currencies around current levels.
    The yen's 40 pct climb against the dollar over the last two
years has hit the export-driven economy hard, by forcing its
companies to raise prices and lose sales in the U.S. Market.
    "The important thing is the exchange rate," Taketomi said.
    If it stabilises firms will grow more confident and raise
investment in plant and equipment, although there are no signs
of that yet, economists said.
    A stable yen would also help exporters regain some of their
competitive edge just as the U.S economy may be starting to
recover, economists said.
    Domestically, the economy may get a boost from some
loosening of the government's tight fiscal policy said Haruo
Muto, manager of national economics at the Bank of Tokyo Ltd.
    The next reading of the economy's health should come early
next week with the release of gnp figures for the last quarter,
1986.
    Most private economists expect a rise of about 0.5 pct from
the previous quarter. In the third quarter, GNP rose 0.6 pct.
    But a senior government official said the fourth quarter
figures could surprise by showing a rise of more than one point
quarter-on-quarter. But he added that would be a statistical
aberration and not a significant shift in economic activity.
    To maintain year-on-year growth of around 2.5 pct, the
economy would have had to rise about 1.2 pct in the fourth
quarter as the final quarter of 1985 was strong.
     The rise in the fourth quarter of 1985 was probably a
statistical anomaly that was repeated in the final months of
1986, the official said.
    Economists said the fourth quarter figures were also
distorted by the government's sale of gold coins in the second
half of 1986.
    Because the coins were classified as legal tender, their
purchase did not show up in the statistics on consumer
expenditure. Consumer spending also tailed off in December
because of bad weather and smaller-than-normal end-year
bonuses, they said.
    As the government had to buy back some of the coins from
retailers because they were unsold, the government's
contribution to the economy in the fourth quarter may have been
boosted, economists said.
    Taketomi said it may have received a further boost from
government buying of farm products as the domestic crop last
year was good.
    The senior government official said the fourth quarter
performance of the domestic sector was probably worse than
generally expected, while that of the external sector was
better.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9079" NEWID="4166">
<DATE>12-MAR-1987 09:05:29.00</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T M
&#22;&#22;&#1;f0853&#31;reute
u f BC-NEW-U.K.-POLL-SAYS-TO   03-12 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW U.K. POLL SAYS TORIES HAVE SIX-POINT LEAD</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>Britain's ruling Conservatives have
moved into a six-point lead over the main opposition Labour
Party, a Marplan poll published in today's Guardian newspaper
reports.
    The Conservatives are shown with a 38 pct share of the vote
against 32 pct for Labour and 27 pct for the centrist
Social-Democratic/Liberal Alliance.
    Prime Minister Margaret Thatcher has until June, 1988 to
call a general election, but most political analysts expect her
to go to the country some time this year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9080" NEWID="4167">
<DATE>12-MAR-1987 09:05:55.13</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;f0856&#31;reute
r f BC-QINTEX-EXTENDS-PRINCE   03-12 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>QINTEX EXTENDS PRINCEVILLE &lt;PVDC> OFFER</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>&lt;Qintex America Ltd> said it is again
extending its offer of 13 dlrs a share for 3.3 mln Princeville
Development Corp shares until today from yesterday.
    As reported yesterday, Qintex said, about seven mln
Princeville shares had been tendered in response to the offer.
    Qintex said it is extending the offer to allow Princeville
to comply with federal law restricting the ownership of U.S.
airlines by non-U.S. citizens and to finalize the terms and
conditions of the letter of credit or bank guarantee required
under the previously announced acquisition agreement.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9081" NEWID="4168">
<DATE>12-MAR-1987 09:06:37.77</DATE>
<TOPICS></TOPICS>
<PLACES><D>sweden</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>stse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0857&#31;reute
d f BC-JM-BYGGNADS-SHARES-SU   03-12 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>JM BYGGNADS SHARES SUSPENDED ON STOCKHOLM BOURSE</TITLE>
<DATELINE>    STOCKHOLM, March 12 - </DATELINE><BODY>Shares in building firm &lt;JM Byggnads
och Fastighets AB> were suspended on the Stockholm bourse at
the company's own request, the bourse said.
    The suspension will last until the end of trading on
Friday, the bourse added in a statement, but gave no further
details.
    JM is half-owned by Skanska AB &lt;SKBS ST>, which has offered
to buy out the remaining stock, but analysts said JM could have
been approached with a rival bid.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9082" NEWID="4169">
<DATE>12-MAR-1987 09:07:47.09</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;f0860&#31;reute
r f BC-CORRECTED-NETWORK-VID   03-12 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>CORRECTED-NETWORK VIDEO INC &lt;NVID> 3RD QTR</TITLE>
<DATELINE>    SARASOTA, Fla., March 12 - </DATELINE><BODY>Feb 28 end
    Shr five cts vs one ct
    Net 161,019 vs 50,745
    Revs 1,048,543 vs 478,700
    Avg shrs 3,217,500 vs 4,350,000
    Nine mths
    Shr 12 cts vs four cts
    Net 390,179 vs 169,275
    Revs 2,658,692 vs 1,478,066
    Avg shrs 3,217,500 vs 4,350,000
    NOTE: Corrects reversed figures in March 11 item.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9083" NEWID="4170">
<DATE>12-MAR-1987 09:09:49.42</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0863&#31;reute
u f PM-TAIWAN   03-12 0136</UNKNOWN>
<TEXT>&#2;
<TITLE>BANKERS OPPOSE STRICT TAIWAN CURRENCY CONTROLS</TITLE>
<DATELINE>    TAIPEI, March 12 - </DATELINE><BODY>Taiwan imposed currency controls today
in what bankers called a desperate move to prevent speculation
as the Taiwan dollar appreciated against the U.S. currency.
    The strict controls will require proof that large
remittances to Taiwan are connected to commercial transactions
rather than currency speculation.
    Bankers attacked the controls as ineffective, saying they
were a panic reaction to pressure from Washington for faster
appreciation of the Taiwan currency against the U.S. dollar,
which would slow exports to the United States.
    Remittances exceeding one mln dlrs earned through exports,
shipping, insurance or bank lending will now need government
approval, along with remittances of more than 10,000 dlrs from
any other source.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9084" NEWID="4171">
<DATE>12-MAR-1987 09:14:06.67</DATE>
<TOPICS><D>ship</D><D>crude</D></TOPICS>
<PLACES><D>uk</D><D>saudi-arabia</D><D>iran</D><D>uae</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f0871&#31;reute
u f BC-SAUDI-STEAM-TANKER-RE   03-12 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>SAUDI SUPERTANKER REPORTED HIT BY IRAN OFF UAE</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>Iran attacked the Saudi Arabian
supertanker Arabian Sea off the United Arab Emirates last night
but the vessel was able to proceed after the incident, Lloyds
Shipping Intelligence reported.
    The 315,695-dwt Arabian Sea had set sail on Tuesday after
loading oil at the Saudi port of Ras Tannurah. Lloyds said the
attack occurred at about 2200 hrs local time (1800 GMT).
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9085" NEWID="4172">
<DATE>12-MAR-1987 09:14:16.78</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>taiwan</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;f0872&#31;reute
d f PM-TAIWAN-IMPORTS   03-12 0131</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN TO RELAX IMPORT CURBS ON MORE GOODS</TITLE>
<DATELINE>    TAIPEI, March 12 - </DATELINE><BODY>Taiwan will relax import controls on
more foreign goods, a government spokesman said today.
    The move was to allow greater access to Taiwan markets by
overseas trading partners, especially the United States, an
official of the Council for Economic Planning and Development
told Reuters.
    Import curbs on about 400 foreign goods, including
stationery and books, would soon be relaxed, he said.
    Taiwan announced it would ease curbs on some 600 farming
and industrial products last month.
    The official said the moves were intended to balance trade
between Taiwan and the United States and other trading
partners. Taiwan's trade surplus reached a record 15.6 billion
dlrs last year, up from 10.62 billion in 1985.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9086" NEWID="4173">
<DATE>12-MAR-1987 09:16:01.55</DATE>
<TOPICS><D>retail</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0877&#31;reute
u f BC-U.K.-RETAILERS-SEE-GR   03-12 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. RETAILERS SEE GROWTH IN CONSUMER SPENDING</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>U.K. Retailers expect consumer spending
to accelerate in March after a disappointing increase in
February, according to a monthly survey by the Confederation of
British Industry (CBI).
    Fifty-nine pct of the 325 retailers questioned for the
latest Distributive Trades Survey expected sales to be higher
in March than they were in March 1986, with only six pct
expecting lower sales.
    The chairman of the Distributive Trades Survey Panel, Nigel
Whittaker, said a favourable Budget next week would further
help sales during the summer.
    Figures released earlier this week showed retail sales in
January fell 2.2 pct, mainly due to exceptionally cold weather.
    "Sales did not recover in February as much as retailers had
expected, and they are now looking for better business in
March," today's survey said.
    It reported clothing stores were the most optimistic, with
80 pct expecting sales in March to be higher than a year ago.
    Wholesalers also expected stronger sales in March, while
both retailers and wholesalers reported slower growth in import
penetration, it said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9087" NEWID="4174">
<DATE>12-MAR-1987 09:19:05.29</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>japan</D><D>iran</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>opec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0888&#31;reute
u f BC-MOST-JAPAN-FIRMS-NOT   03-12 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>MOST JAPAN FIRMS NOT RENEWING IRAN TERM CONTRACTS</TITLE>
<AUTHOR>    By Jennie Kantyka, Reuters</AUTHOR>
<DATELINE>    TOKYO, March 12 - </DATELINE><BODY>Most Japanese companies have decided not
to renew term contracts to lift Iranian crude oil because spot
prices remain considerably lower than OPEC's official levels,
industry sources said.
    They said a cargo of the Mideast benchmark crude Dubai
traded yesterday at 16.50 dlrs a barrel, compared to its
official price of 17.42 dlrs.
    Only one Japanese company has renewed its term contract for
Iranian crude oil for the second quarter, the sources said.
    The sources said Japanese companies had been lifting a
total of about 185,000 barrels per day (bpd) of Iranian crude
under term contracts, but only one firm has agreed to lift in
the second quarter. It is lifting just 10,000 to 15,000 bpd.
    They said this move could inspire Iran to offer discounts
on cargoes loading in April, but the likelihood of discounts
depended largely on the levels of spot prices.
    "If the spot price of Dubai goes above 17.30 dlrs we would
probably buy Iranian crude at the official price," one Japanese
refiner said.
    "We don't intend to put pressure on them," he added.
    Buyers have little incentive to renew contracts to lift oil
at official OPEC prices while spot prices on all grades are
considerably lower, oil traders said.
    They said if spot prices move higher there will be no
problem finding OPEC crude to purchase at the official prices.
Qatar has chartered floating storage for its crude oil after
finding no buyers at official prices in March. The problem is
likely to recur in April, adding to that country's surplus.
    The traders added that Iraq had dissociated itself from
OPEC's December production agreement, while agreeing to the
fixed prices.
    But oil analysts said if OPEC keeps group output close to
its first-half 1987 ceiling of 15.8 mln bpd, supply and demand
would be balanced by the end of the second quarter.
    They also said if OPEC holds its official price structure
based on a reference price of 18 dlrs, spot price fluctuations
should be limited to a 16.50 to 17.20 dlrs range for Dubai and
a 17 to 18 dlrs range for the North Sea's Brent blend.
    One Japanese refiner said, "At the moment there's a lot of
pressure on OPEC, particularly on Qatar. But if they hold out
there will be no problem, and I'm beginning to trust their
ability."
    Nigerian oil minister and OPEC president Rilwanu Lukman
told a news conference in Lagos yesterday, "Nigeria and all
member countries of OPEC remain determined to uphold the
December agreement by adhering strictly to their various quotas
and official selling prices."
    He said OPEC believed consumers had drawn heavily on stocks
of both crude oil and refined products, reducing them to levels
well below this time last year. He said consumers would soon
return to the market in search of crude.
    A Japanese refiner said, "The European and U.S. Markets are
beginning to look better so OPEC might be quite lucky."
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9088" NEWID="4175">
<DATE>12-MAR-1987 09:19:23.40</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;f0889&#31;reute
r f BC-POSSIS-&lt;POSS>-VOTES-1   03-12 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>POSSIS &lt;POSS> VOTES 100 PCT STOCK DIVIDEND</TITLE>
<DATELINE>    MINNEAPOLIS, March 12 - </DATELINE><BODY>Possis Corp said its board approved
a 100 pct stock dividend payable May One, record March 27.
    At the company's annual meeting Wednesday, Possis said
shareholders approved a proposal to increase the authorized
common shares to 20 mln from eight mln. The company currently
has about 3.9 mln shares outstanding.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9089" NEWID="4176">
<DATE>12-MAR-1987 09:19:47.41</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;f0890&#31;reute
d f BC-SEAL-INC-&lt;SINC>-1ST-Q   03-12 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>SEAL INC &lt;SINC> 1ST QTR JAN 31 NET</TITLE>
<DATELINE>    NAUGATUCK, Conn., March 12 -
    </DATELINE><BODY>Shr 29 cts vs 16 cts
    Net 610,000 vs 329,000
    Sales 6,714,000 vs 4,582,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9090" NEWID="4177">
<DATE>12-MAR-1987 09:20:00.20</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;f0891&#31;reute
a f BC-DOW-CHEMICAL-CO-&lt;DOW>   03-12 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>DOW CHEMICAL CO &lt;DOW> REGULAR DIVIDEND</TITLE>
<DATELINE>    MIDLAND, MICH., March 12 -
    </DATELINE><BODY>Qtly div 50 cts vs 50 cts prior
    Pay April 30
    Record March 31
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9091" NEWID="4178">
<DATE>12-MAR-1987 09:20:41.39</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;f0895&#31;reute
r f BC-TELCO-&lt;TELC>-DELAYS-D   03-12 0046</UNKNOWN>
<TEXT>&#2;
<TITLE>TELCO &lt;TELC> DELAYS DEFENSIVE RIGHTS OFFERING</TITLE>
<DATELINE>    NORWOOD, Mass., March 12 - </DATELINE><BODY>Telco Systems Inc said its plan
to distribute a dividend of common stock purchase rights to
shareholders of record on March 16 has been delayed pending the
completion of necessary regulatory approvals.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9092" NEWID="4179">
<DATE>12-MAR-1987 09:21:40.82</DATE>
<TOPICS></TOPICS>
<PLACES><D>jamaica</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T M
&#22;&#22;&#1;f0900&#31;reute
d f AM-JAMAICA   03-12 0140</UNKNOWN>
<TEXT>&#2;
<TITLE>JAMAICA PUTS CAP ON BORROWING</TITLE>
<DATELINE>    KINGSTON, Jamaica, March 12 - </DATELINE><BODY>Jamaica has put a cap on its
3.5 billion dlr foreign debt and will reduce its obligations by
300 mln dlrs this year, Prime Minister Edward Seaga said.
    Seaga yesterday said Jamaica has reached its "maximum stock
of debt" and will not undertake any more borrowing until it was
justified by economic growth. "This year we'll be reducing the
stock of debt by 300 mln dlrs," he said.
    He said his government aims to get Jamaica's ratio of debt
payments to foreign exchange earnings down from the current
level of 50 pct to 25 pct over the next two to three years.
Debt payments this year are expected to total 287 mln dlrs,
Seaga said. Seaga yesterday concluded an agreement with
Jamaica's creditor banks to reschedule some 181 mln dlrs due in
1987-89 over the next 12 years.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9093" NEWID="4180">
<DATE>12-MAR-1987 09:25:15.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0923&#31;reute
d f BC-SYNERGETICS-&lt;SYNG>-GE   03-12 0138</UNKNOWN>
<TEXT>&#2;
<TITLE>SYNERGETICS &lt;SYNG> GETS CHINESE ORDER</TITLE>
<DATELINE>    BOULDER, Colo., March 12 - </DATELINE><BODY>Synergetics International Inc
said it has received its first order from China, a 250,000 dlr
order for a flood management system to be used in the Daning
and Yuzixi river basins of the Yangtse River.
    The company also said it has received Japanese government
certification for its satellite transmitter products, allowing
users of Synergetics' remote computer systems to transmit a
variety of hydrological and meteorological data via the Japan
Space Agency's GMS satellite.
    In addition, it said it has appointed Vaisala KK of
Helsinki as exclkusive distributor of its products throughout
Japan and has awarded Sierra/Misco Inc expanded distribution
rights, in the Philippines, Malaysia, Sumatra, Nepal, India,
Bengal, Thailand, Singapore and Indonesia.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9094" NEWID="4181">
<DATE>12-MAR-1987 09:26:01.54</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;f0925&#31;reute
r f BC-BRITISH-CALEDONIAN-SE   03-12 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>BRITISH CALEDONIAN SEEKS LONGER AMERICAN FLIGHTS</TITLE>
<DATELINE>    LOS ANGELES, March 12 - </DATELINE><BODY>&lt;British Caledonian Airways> said
it filed an application with Britain's Civil Aviation Authority
for authority to operate the only direct flights between the
United Kingdom and Mexico City.
    The airline said it will submit an application March 17 to
provide direct service between the United Kingdom and Phoenix.
Earlier this week it applied for the license to serve San Diego.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9095" NEWID="4182">
<DATE>12-MAR-1987 09:26:49.79</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;f0928&#31;reute
u f BC-CLAYTON-AND-DUBILIER   03-12 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>CLAYTON AND DUBILIER NEW JOINT UNIT TO BUY FIRM</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Clayton and Dubilier Inc and senior
management of a unit of Borg-Warner Corp &lt;BOR> said it will
form a new company to buy Borg-Warner's industrial products
group for about 240 mln dlrs.
    Borg-Warner industrial products has sales of about 300 mln
dlrs from three divisions, which provide advanced technology
fluid transfer and control equipment, systems and
services worldwide, Clayton said.
    The new company will have 3,000 employees and be
headquartered in Long Beach, Calif., the company said.
    Peter Valli, vice president of Borg-Warner Corp and
president of its industrial products division, will become
president and chief executive officer of the new company,
according to Clayton.
    Clayton, a private investment firm, said this was the third
mangement buyout of a divestiture completed by them since
December 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9096" NEWID="4183">
<DATE>12-MAR-1987 09:27:01.63</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>thailand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F E
&#22;&#22;&#1;f0929&#31;reute
r f BC-COMBUSTION-ENGINEERIN   03-12 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>COMBUSTION ENGINEERING &lt;CSP> GETS THAI ORDER</TITLE>
<DATELINE>    STAMFORD, Conn., March 12 - </DATELINE><BODY>Combustion Engineering Inc said
the Electricity Generating Authority of Thailand has exercised
an option to purchase a 300 megawatt coal-fired steam generator
from CEMAR, a consortium of Combustion Engineering Canada Inc
and Japan's Marubeni Corp.
    Combustion Engineering said the project is valued at about
30 mln dlrs.
    The new steam generator, which will burn local lignite,
will be manufactured in Canada and installed as Unit Nine at
the Mae Moh power station in Lampang, Thailand. The unit is
expected to go into commercial operation in 1990.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9097" NEWID="4184">
<DATE>12-MAR-1987 09:27:07.86</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;f0930&#31;reute
d f BC-U.S.-HEALTH-INC-&lt;USHI   03-12 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. HEALTH INC &lt;USHI> 2ND QTR JAN 31 NET</TITLE>
<DATELINE>    BALTIMORE, March 12 -
    </DATELINE><BODY>Shr 10 cts vs seven cts
    Net 1,541,000 vs 1,056,000
    Revs 20.1 mln vs 17.0 mln
    1st half
    Shr 19 cts vs 11 cts
    Net 2,945,000 vs 1,742,000
    Revs 38.2 mln vs 35.2 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9098" NEWID="4185">
<DATE>12-MAR-1987 09:28:13.34</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0935&#31;reute
f f BC-******K-MART-CORP-4TH   03-12 0008</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>K MART CORP 4TH QTR  SHR 2.11 DLRS VS NINE CTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9099" NEWID="4186">
<DATE>12-MAR-1987 09:29:02.46</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0937&#31;reute
d f BC-FIRST-AMERI-CABLE-&lt;FA   03-12 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST AMERI-CABLE &lt;FATV> FILES OFFERING</TITLE>
<DATELINE>    COLUMBUS, Ohio, March 12 - </DATELINE><BODY>First Ameri-Cable Corp said that
First Ameri-Cable Income Fund Ltd filed a registration
statement with the Securities and Exchange Commission to raise
from one mln dlrs to 50 mln dlrs on a best efforts basis.
    First Ameri-Cable said it acts as general partner for First
Ameri-Cable Income Fund.
    First Ameri-Cable said First Ameri-Cable Income Fund
intends to use the funds to buy existing cable systems or
ownership interest in existing cable systems from third parties
or from First Ameri-Cable Corp.
    First Ameri-Cable Income Fund intends to operate the
systems it purchases, First Ameri-Cable said.
    The company said the offering will be made in two series,
with the Series A units priced at 29.20 dlrs each, and the
Series B units priced at 20 dlrs each.
    First Ameri-Cable said the minimum purchase allowed is 25
units in any combination of series A and B.
    The selling agent for the offering is First Cable
Securities Corp, a wholly owned unit of First Amer-Cable Corp,
the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9100" NEWID="4187">
<DATE>12-MAR-1987 09:29:21.56</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;f0939&#31;reute
r f BC-fivestar   03-12 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>CONSOLIDATED FIVE STAR RESOURCES ISSUES STOCK</TITLE>
<DATELINE>    EDMONTON, Alberta, March 11 - </DATELINE><BODY>&lt;Consolidated Five Star
Resources Ltd> said it agreed to issue 1.25 mln dlrs of common
stock and 10.75 mln dlrs of convertible preferred stock in a
private placement.
    The three-year 7-1/2 pct preferred shares are convertible
into common shares at 60 cts a share, and exchangeable into
1,650,000 common shares of &lt;Cancapital Corp> owned by
Consolidated Five Star. Proceeds will be used to retire bank
debt, with the balance added to working capital.
    Consolidated Five Star previously said it borrowed 10.75
mln dlrs from a bank to acquire &lt;Chaffinch Ltd>.
                                                               
        
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9101" NEWID="4188">
<DATE>12-MAR-1987 09:29:52.88</DATE>
<TOPICS><D>money-fx</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;f0941&#31;reute
b f BC-UK-MONEY-MARKET-GIVEN   03-12 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>UK MONEY MARKET GIVEN FURTHER TWO MLN STG HELP</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>The Bank of England said it gave the
market further assistance of two mln stg during the afternoon,
buying that amount of band two bank bills at 10-5/16 pct.
    The bank has given the market assistance worth 1.503
billion stg today to offset a shortage it estimated at a
revised 1.60 billion.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9102" NEWID="4189">
<DATE>12-MAR-1987 09:30:22.78</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;f0945&#31;reute
d f BC-ENVIRONMENTAL-SYSTEMS   03-12 0034</UNKNOWN>
<TEXT>&#2;
<TITLE>ENVIRONMENTAL SYSTEMS CO &lt;ESC> 1ST QTR JAN 31</TITLE>
<DATELINE>    LITTLE ROCK, Ark., March 12 -
    </DATELINE><BODY>Shr 13 cts vs 15 cts
    Net 2,193,000 vs 1,918,000
    Revs 18.2 mln vs 15.2 mln
    NOTE: Share after preferred dividends.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9103" NEWID="4190">
<DATE>12-MAR-1987 09:30:48.30</DATE>
<TOPICS></TOPICS>
<PLACES><D>sweden</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0947&#31;reute
u f BC-SWEDISH-VIROLOGIST-UN   03-12 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>SWEDISH VIROLOGIST UNVEILS NEW AIDS BLOOD TEST</TITLE>
<DATELINE>    ZURICH, March 12 - </DATELINE><BODY>A Swedish virologist unveiled a new AIDS
blood test using synthetic antigens, or substances which
combine with antibodies to make them detectable, which would be
much cheaper and more reliable than existing tests.
    Anders Vahlne said the test, developed at Gothenburg
University, was accurate enough to eliminate the need for a
second test usually carried out to double-check those found to
be "AIDS positive," that is with AIDS antibodies in their blood.
    Vahlne said the test could be on the market in between four
and eight months. A small Swiss firm, Virovahl S.A., Helped
finance it.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9104" NEWID="4191">
<DATE>12-MAR-1987 09:31:00.75</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;f0949&#31;reute
r f BC-CME-CONTINUES-DELIBER   03-12 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>CME CONTINUES DELIBERATION ON DUAL TRADING BAN</TITLE>
<DATELINE>    CHICAGO, March 12 - </DATELINE><BODY>Directors of the Chicago Mercantile
Exchange (CME) adjourned a meeting late last night without
reaching a decision on a petition to ban dual trading in
Standard and Poor's 500 stock index futures, an exchange
official said.
    CME president Bill Brodsky told Reuters that the CME board
would meet again today and probably reach a decision either
late today or tomorrow.
    Dual trading involves the right of members to trade for
their own account as well filling orders for customers.
    The petition, signed by several hundred exchange members
when it was circulated on the floor of the CME two weeks ago,
calls for the elimination of dual trading in the S and P pit.
Some industry watchers believe that if the CME eliminates the
practice other exchanges will have to consider such a move.
    The practice has drawn criticism from some sectors in that
it provides an opportunity for abusive practices in which
customer orders are not executed at the best possible price.
    One practice, know as "front-running," involves a broker
trading ahead of a large customer order and then profiting by
the impact on the market of the customer order.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9105" NEWID="4192">
<DATE>12-MAR-1987 09:31:38.92</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>south-africa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0953&#31;reute
d f BC-GENERAL-MINING-(GENM.   03-12 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL MINING (GENM.J) CAUTIONS ON 1987 PROFITS</TITLE>
<DATELINE>    JOHANNESBURG, March 12 - </DATELINE><BODY>General Mining Union Corp Ltd
chairman Derek Keys cautioned that profits may not rise this
year if the rand stays at its current level of 48 U.S. Cents.
    "We would do well to repeat last year's results if the rand
stays depressed," Keys said.
    The level of the dividend, however, "ought not to be
affected," he added, discussing the 1987 outlook.
    General Mining earlier reported that 1986 per share
earnings rose 28 pct to 616 cts.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9106" NEWID="4193">
<DATE>12-MAR-1987 09:31:57.70</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;f0957&#31;reute
s f BC-COLGATE-PALMOLIVE-CO   03-12 0021</UNKNOWN>
<TEXT>&#2;
<TITLE>COLGATE-PALMOLIVE CO &lt;CL> SETS PAYOUT</TITLE>
<DATELINE>    NEW YORK, March 12 -
    </DATELINE><BODY>Qtrly div 34 cts vs 34 cts
    Pay May 15
    Record April 24
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9107" NEWID="4194">
<DATE>12-MAR-1987 09:33:40.01</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;f0967&#31;reute
r f BC-ISCO-INC-&lt;ISKO>-2ND-Q   03-12 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>ISCO INC &lt;ISKO> 2ND QTR ENDS JAN 30 NET</TITLE>
<DATELINE>    LINCOLN, Neb., March 12 -
    </DATELINE><BODY>Shr 12 cts vs 13 cts
    Net 414,968 vs 449,533
    Revs 5,726,722 vs 5,276,627
    Six mths
    Shr 23 cts vs 33 cts
    Net 779,981 vs 1,116,857
    Revs 11.3 mln vs 11.3 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9108" NEWID="4195">
<DATE>12-MAR-1987 09:33:46.07</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0968&#31;reute
d f BC-MARKITSTAR-&lt;MARK>-NAM   03-12 0039</UNKNOWN>
<TEXT>&#2;
<TITLE>MARKITSTAR &lt;MARK> NAMES SALES REPRESENTATIVE</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>MarkitStar Inc said it has signed an
agreement for Orimedia of Paris to become a sales
representative for MarkitStar products and services in the
European Community.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9109" NEWID="4196">
<DATE>12-MAR-1987 09:33:56.03</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>lse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0969&#31;reute
u f BC-U.K.-EQUITY-TURNOVER   03-12 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. EQUITY TURNOVER SETS NEW RECORD IN FEBRUARY</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>Turnover in U.K. Equities soared to a
record 31.05 billion stg in February, a 12 pct increase on the
previous month's 27.83 billion, the London Stock Exchange said.
    February turnover was also 96 pct higher than the 15.84
billion stg total posted in the same month a year ago.
    A monthly fact sheet from the Stock Exchange showed eight
new companies were admitted to listing in February, six of
which were U.K. Firms.
    The largest of these was British Airways, which was
privatised in February and whose share offer raised over 900
mln stg, it said.
    The Stock Exchange also said six rights issues during the
month raised 223.6 mln stg compared with 129.5 mln from nine
issues in Febuary 1986.
    Daily average equity turnover in the 20 business days in
February was 1.55 billion stg after 1.33 billion in the 21
trading days in January, an increase of 17 pct.
    Total Stock Exchange turnover of both gilts and equities
was 116.73 billion stg, marginally higher than the 116.65
billion recorded in January but 129 pct more than the 50.92
billion of February 1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9110" NEWID="4197">
<DATE>12-MAR-1987 09:34:06.61</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0970&#31;reute
r f BC-SOUTHWEST-AIR-&lt;LUV>-F   03-12 0124</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTHWEST AIR &lt;LUV> FEBRUARY LOAD FACTOR OFF</TITLE>
<DATELINE>    DALLAS, March 12 - </DATELINE><BODY>Southwest Airlines Co said its February
load factor fell to 51.2 pct from 54.5 pct in February 1986.
    Revenue passenger miles increased 14.1 pct in February to
538.9 mln from 472.3 mln and 22.3 pct year-to-date to 1.15
billion from 944.1 mln, the company said.
    Available seat miles grew 21.6 pct in February to 1.05
billion from 866.2 mln and 21.3 pct in the two months to 2.20
billion from 1.81 billion.
    Load factor, the percentage of seats filled, rose to 52.5
pct from 52.1 pct in the two months, Southwest said. Traffic
results include Southwest and its Transtar Airlines unit.
    The carrier also said it opened a new Phoenix reservation
center on March one.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9111" NEWID="4198">
<DATE>12-MAR-1987 09:34:49.16</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0973&#31;reute
r f BC-&lt;TECHNIMED-CORP>-HAS   03-12 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;TECHNIMED CORP> HAS CHOLESTEROL TEST PRODUCT</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Technimed Corp said it has completed
development of a home cholesterol testing product and will
start clinical testing of its whole blood cholesterol test
strip shortly.
    The company said the strip is inexpensive and is simpler
than lab tests now being used.  A drop of blood is applied to
the strip and within about 30 seconds a simple color change
allows the user to determine his own cholesterol level.
    It said it expects to be the first to market a home
cholesterol test and the test should contribute substantially
to future earnings.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9112" NEWID="4199">
<DATE>12-MAR-1987 09:35:08.87</DATE>
<TOPICS><D>veg-oil</D></TOPICS>
<PLACES><D>usa</D><D>el-salvador</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L
&#22;&#22;&#1;f0974&#31;reute
d f BC-CCC-REALLOCATES-CREDI   03-12 0131</UNKNOWN>
<TEXT>&#2;
<TITLE>CCC REALLOCATES CREDIT GUARANTEES TO EL SALVADOR</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>The Commodity Credit Corporation,
CCC, has reallocated two mln dlrs in credit gurantees
previously earmarked for sales of U.S. protein meals to cover
sales of vegetable oil and tallow to El Salvador, the U.S.
Agriculture Department said.
    The action reduces coverage for sales of protein meals to
14 mln dlrs from 16 mln dlrs and creates new lines of one mln
dlrs for tallow and/or greases and one mln dlrs for vegetable
oils, the department said.
    All sales under the credit guarantee lines must be
registered and exported by Sepember 30, 1987, it said.
    The guarantee rates include a charge to provide for a
yearly interest rate coverage of up to 4.5 pct on the
guaranteed value, the department said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9113" NEWID="4200">
<DATE>12-MAR-1987 09:37:10.30</DATE>
<TOPICS></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0983&#31;reute
d f BC-ROTHMANS-CLOSE-TO-JOI   03-12 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>ROTHMANS CLOSE TO JOINT VENTURE IN CHINA</TITLE>
<DATELINE>    PEKING, March 12 - </DATELINE><BODY>Rothmans International plc &lt;ROT.L> aims
to set up a joint venture with Jinan cigarette factory in
Shandong, China to produce high quality cigarettes, some for
export, Chinese newspapers said.
    The China Daily said the factory has produced high-quality
"General" brand cigarettes using advanced machinery and technical
assistance worth 2.5 mln dlrs donated by Rothmans under a
co-operation agreement signed in 1985.
    The Economic Daily newspaper said the high quality "General"
will help China's cigarettes enter the international market.
The two papers gave no more details.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9114" NEWID="4201">
<DATE>12-MAR-1987 09:38:09.84</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;f0985&#31;reute
u f BC-BORG-WARNER-&lt;BOR>-TO   03-12 0038</UNKNOWN>
<TEXT>&#2;
<TITLE>BORG-WARNER &lt;BOR> TO SELL UNIT FOR 240 MLN DLRS</TITLE>
<DATELINE>    CHICAGO, March 12 - </DATELINE><BODY>Borg-Warner Corp said it agreed to sell
its industrial products group to &lt;Clayton and Dubilier Inc>
and senior management of the group, for about 240 mln dlrs.
    Clayton and Dubilier is a New York-based private investment
firm, which has completed two other management-led buyout
transactions since December 1986.
    Borg-Warner's industrial products group, based in Long
Beach, California, has sales of about 300 mln dlrs and employs
about 3,000 staff.
    Its businesses include standard and custom engineered
centrifugal pumps and mechanical seals for the petroleum
industry and advanced controls for the aerospace and defense
industries.
    The sale is part of Borg-Warner's planned restructuring.
    the proposed sale is subject to approval by Borg-Warner's
directors, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9115" NEWID="4202">
<DATE>12-MAR-1987 09:39:43.19</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A F
&#22;&#22;&#1;f0989&#31;reute
r f BC-BENNETTON,-MERRILL-LY   03-12 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>BENNETTON, MERRILL LYNCH UNIT PLAN JOINT VENTURE</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>Merrill Lynch &lt;MER> Capital Markets said
it and Bennetton Group SPA &lt;BTOM.M> will form a joint venture
to attract investment in unquoted Italian companies.
    Merrill Lynch Capital Markets will launch the venture with
In Capital SPA, a Milan investment bank in which Bennetton has
a 75 pct holding. The remaining 25 pct is owned by Gruppo
Finanziario Tessile S.P.A., A private textile firm.
    The two companies, who have signed a letter of intent, said
they hoped the venture will generate investments of up to 50
billion lire in private Italian firms operating in fast-growing
fields.
    Benetton is a large Italian clothing maker, with some 4,400
retail outlets worldwide. The new venture, which represents the
first partnership between an international investment bank and
a large company, is designed to help Benetton expand the
operations of In Capital.
    Merrill Lynch Capital Markets is the London-based
international merchant banking arm of Merrill Lynch Europe Ltd,
which in turn is part of the U.S. Based investment banking firm
of Merrill Lynch and Co Inc.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9116" NEWID="4203">
<DATE>12-MAR-1987 09:40:55.17</DATE>
<TOPICS><D>grain</D><D>wheat</D><D>ship</D></TOPICS>
<PLACES><D>uk</D><D>syria</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f0993&#31;reute
d f BC-PANAMANIAN-BULK-CARRI   03-12 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>PANAMANIAN WHEAT SHIP STILL GROUNDED OFF SYRIA</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>The Panamanian bulk carrier Juvena is
still aground outside Tartous, Syria, despite discharging 6,400
tons of its 39,000-ton cargo of wheat, and water has entered
the engine-room due to a crack in the vessel bottom, Lloyds
Shipping Intelligence Service said.
    The Juvena, 53,351 tonnes dw, ran aground outside Tartous
port basin breakwater on February 25 in heavy weather and rough
seas.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9117" NEWID="4204">
<DATE>12-MAR-1987 09:41:05.36</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;f0994&#31;reute
r f BC-guardian-morton   03-12 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>GUARDIAN-MORTON SHULMAN AGREES TO TAKEOVER BID</TITLE>
<DATELINE>    TORONTO, March 12 - </DATELINE><BODY>&lt;Guardian-Morton Shulman Precious
Metals Inc> said Morton Shulman and Guardman Investment
Management Services Inc agreed in principle for Andrew Sarlos
to make a takeover bid for all special shares and series II
warrants of Guardian-Morton, subject to regulatory approval and
completion of definitive documentation.
    Guardman Investment, current manager and owner of all
common shares of Guardian-Morton, also agreed to sell the
common and its management agreement to a company controlled by
Sarlos if the takeover bid is successful, Guardian-Morton said.
    Price to be offered for the Guardian-Morton special shares
under the takeover bid will be 90 pct of the net asset value of
the special shares at the time of the bid, and two dlrs for
each series II warrant, the company said.
    Guardian-Morton said the takeover bid will be conditional
on Sarlos acquiring at least 90 pct of the special shares and
90 pct of the series II warrants, when combined the number of
special shares and warrants owned by the offeror at the time of
the bid.
    Investment companies managed by Sarlos currently own
slightly less than 10 pct of Guardian-Morton's special shares.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9118" NEWID="4205">
<DATE>12-MAR-1987 09:42:34.74</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;f0998&#31;reute
b f BC-/K-MART-CORP-&lt;KM>-4TH   03-12 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>K MART CORP &lt;KM> 4TH QTR JAN 28 NET</TITLE>
<DATELINE>    TROY, MICH., March 12 -
    </DATELINE><BODY>Shr 2.11 dlrs vs nine cts
    Net 285,000,000 vs 10,500,000
    Revs 7.35 billion vs 6.76 billion
    Avg shrs 134,300,000 vs 131,600,000
    Year
    Shr 4.35 dlrs vs 1.73 dlrs
    Net 582,300,000 vs 221,200,000
    Revs 24.13 billion vs 22.33 billion
    Avg shrs 134,300,000 vs 131,600,000
    NOTE: Latest year earnings include a loss in each period of
16.4 mln dlrs, or 12 cts a share, for a premium paid in the
early call of a 250 mln dlr 12.75 pct 30-year debenture
    Earnings include a gain from discontinued operations of
30.8 mln dlrs, or 23 cts a share vs a loss of 238.9 mln dlrs,
or 1.82 dlrs a share in the quarter and a gain of 28.4 mln
dlrs, or 21 cts a share vs a gain of 472.0 mln dlrs, or 3.64
dlrs a share for the year
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9119" NEWID="4206">
<DATE>12-MAR-1987 09:43:35.10</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;f0003&#31;reute
u f BC-slaughter-guesstimate   03-12 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>HOG AND CATTLE SLAUGHTER GUESSTIMATES</TITLE>
<DATELINE>    CHICAGO, March 12 - </DATELINE><BODY>Chicago Mercantile Exchange floor
traders and commission house representatives are guesstimating
today's hog slaughter at about 290,000 to 310,000 head versus
309,000 week ago and 328,000 a year ago.
    Cattle slaughter is guesstimated at about 128,000 to
131,000 head versus 129,000 week ago and 127,000 a year ago.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9120" NEWID="4207">
<DATE>12-MAR-1987 09:49:17.31</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f0019&#31;reute
d f BC-STAN-WEST-&lt;SWMC>-SEEK   03-12 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>STAN WEST &lt;SWMC> SEEKS CONSTRUCTION FINANCING</TITLE>
<DATELINE>    SCOTTSDALE, Ariz., March 12 - </DATELINE><BODY>Stan West Mining Corp said it
engaged an investment banking firm to act as financial adviser
in arranging a construction financing package for McCabe mine.
    The company said it intends proceeds of the financing
package would be utilized to construct a 500 ton per day mil,
complete the underground construction necessary to start mining
and provide working capital.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9121" NEWID="4208">
<DATE>12-MAR-1987 09:49:54.09</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0020&#31;reute
d f BC-HEEKIN-CAN-&lt;HEKN>-TO   03-12 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>HEEKIN CAN &lt;HEKN> TO BUILD OHIO PLANT</TITLE>
<DATELINE>    CINCINNATI, March 12 - </DATELINE><BODY>Heekin Can Inc said it plans to
build a seven mln dlr Columbus, Ohio, plant financed by
industrial revenue bonds.
    It said construction on the 50,000 square foot plant is
scheduled to start in April and manufacturing will start at the
end of 1987.  The plant will initially make two-piece 6.5 ounce
steel cans for pet food.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9122" NEWID="4209">
<DATE>12-MAR-1987 09:50:10.98</DATE>
<TOPICS><D>acq</D><D>ship</D></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0022&#31;reute
u f BC-VAN-OMMEREN-ACQUIRES   03-12 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>VAN OMMEREN ACQUIRES DUTCH GAS CONTAINER UNIT</TITLE>
<DATELINE>    ROTTERDAM, March 12 - </DATELINE><BODY>Dutch shipping and transport group
PHS Van Ommeren NV &lt;OMMN.AS> said it has taken over a small
Dutch gas container firm as a first step in establishing a
world-wide gas container organisation.
    The firm, Liquid and Gas Transport BV (LGT), employs 10
people and has a fleet of 200 gas containers.
    Van Ommeren will shortly open an office in Singapore and
expand its facilities in Houston to establish the gas container
network.
    REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9123" NEWID="4210">
<DATE>12-MAR-1987 09:53:07.24</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;f0033&#31;reute
u f BC-DORCHESTER-HUGOTON-LT   03-12 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>DORCHESTER HUGOTON LTD &lt;DHULZ> RAISES PAYOUT</TITLE>
<DATELINE>    DALLAS, March 12 -
    </DATELINE><BODY>Qtly div 10 cts vs eight cts prior
    Pay April 16
    Record March 31
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9124" NEWID="4211">
<DATE>12-MAR-1987 09:53:23.60</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;f0034&#31;reute
d f BC-NASD-NAMES-NEW-BOARD   03-12 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>NASD NAMES NEW BOARD MEMBER</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>The &lt;National Association of
Securities Dealers> said it has named Jaguar Cars Inc president
Graham W. Whitehead as one of its three governors-at-large
representing companies listed on the NASDAQ system.
    Jaguar Cars is the U.S. marketing arm of Jaguar PLC
&lt;JAGRY>, which was NASDAQ's third-most-actively traded issue in
1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9125" NEWID="4212">
<DATE>12-MAR-1987 09:53:47.25</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;f0036&#31;reute
r f BC-INTERNATIONAL-AMERICA   03-12 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>INTERNATIONAL AMERICAN &lt;HOME> SETS ACQUISITION</TITLE>
<DATELINE>    UNION, N.J., March 12 - </DATELINE><BODY>International American Homes inc
said it has contracted to acquire &lt;Diversified Shelter Group
Ltd> for about 11,850,000 dlrs to be paid 73 pct in cash and 27
pct in International American common stock to be valued on a 30
day trading average prior to closing.
    It said the price is based on Diversified's estimated 3.2
mln dlrs pro forma pre-tax earnings for 1986 after adjustment
for certain non-continuing expenses. Diversified, a developer
of single family housing in the Atlanta market, had 1986
revenues of about 25.3 mln dlrs. The acquisition if subject to
International American arranging financing.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9126" NEWID="4213">
<DATE>12-MAR-1987 09:54:00.72</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0037&#31;reute
d f BC-MUNICIPAL-DEVELOPMENT   03-12 0127</UNKNOWN>
<TEXT>&#2;
<TITLE>MUNICIPAL DEVELOPMENT &lt;MUNI> PURCHASES LAND</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Municipal Development Corp said it
signed an agreement to purchase land and facilities in Florida
from &lt;Quail Hollow Properties Inc> for 2.8 mln dlrs, and plans
to invest an additional two mln dlrs to install infrastructure
on the property.
    The company said under the deal it will purchase Quail
Hollow Utilities Inc and, with its joint venture partner,
&lt;Groveland Developments Inc>, will acquire 190 acres of land
from Quail Hollow Properties.
    Municipal Development said Quail Hollow Utilities owns and
operates two wastewater treatment systems, which will become
part of Central Pasco Utilities Inc, a business formed by the
company to provide utility services to part of Pasco County.
    Municipal Development said it will develop the Quail Hollow
Business Park on the 190 acres of property.
    Under the joint venture agreement with Groveland, Municipal
Development said it will develop the business park's roads and
other infrastructure, while Groveland will improve and sell
property in the area.
    Central Pasco will develop and deliver the water supply and
wastewater treatment services for the business park.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9127" NEWID="4214">
<DATE>12-MAR-1987 09:54:20.06</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0039&#31;reute
r f BC-ENVIRONMENTAL-SYSTEMS   03-12 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>ENVIRONMENTAL SYSTEMS &lt;ESC> BUILDS INCINERATOR</TITLE>
<DATELINE>    LITTLE ROCK, Ark., March 12 - </DATELINE><BODY>Environmental Systems Co said
it signed a contract with the Illinois Environmental Protection
Agency to build a modular incinerator at the Lenz
Oil Site in Lemont, Ill.
    The company said the project is slated for completion by
the end of fiscal 1987 at a total price of 4,500,000 mln dlrs.
    The incinerator can treat approximately 7,000 tons of
contaminated soil, 150,000 gallons of liquids and 200 drums of
other wastes, according to the company.
    Environmental said it expects to build two more systesm in
fiscal 1987.
    The company posted first quarter net income of 2,193,000
dlrs, or 13 cts per share, compared to 1,918,000 dlrs, or 15
cts per share the prior comparable quarter.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9128" NEWID="4215">
<DATE>12-MAR-1987 09:55:21.79</DATE>
<TOPICS><D>iron-steel</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f0042&#31;reute
d f BC-EC-COMMISSION-TAKES-O   03-12 0121</UNKNOWN>
<TEXT>&#2;
<TITLE>EC COMMISSION HAS OPEN ATTITUDE ON STEEL QUOTAS</TITLE>
<DATELINE>    STRASBOURG, March 12 - </DATELINE><BODY>The EC Commission said it was
adopting an "open attitude" about whether a system of production
quotas should remain for the indefinite future on heavy steel
products which account for about 45 pct of all EC steel goods.
    In a statement, the Commission reiterated its view that the
industry needs to lose between 25 and 30 mln tonnes of capacity
by 1990. It had previously said the quota system, started in
1980, should be wound up completely by the end of next year.
    The industry has argued for the maintenance of existing
quotas, which cover almost 70 pct of all output, saying almost
all steelmakers are losing money due to the depressed market.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9129" NEWID="4216">
<DATE>12-MAR-1987 09:55:48.07</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;f0044&#31;reute
d f BC-PRECISION-AEROTECH-IN   03-12 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>PRECISION AEROTECH INC &lt;PAR> 3RD QTR JAN 31 NET</TITLE>
<DATELINE>    LA JOLLA, Calif., March 12 -
    </DATELINE><BODY>Oper shr 16 cts vs two cts
    Oper net 467,000 vs 52,000
    Sales 8,954,000 vs 6,338,000
    Avg shrs 2,939,459 vs 1,979,916
    Nine mths
    Oper shr 45 cts vs 18 cts
    Oper net 1,068,000 vs 387,000
    Sales 24.5 mln vs 19.6 mln
    Avg shrs 2,299,764 vs 1,979,916
    NOTE: Current year net both periods excludes 176,000 dlr
gain from retirement of notes.
    Backlog 30.8 mln vs 26.7 mln at start of fiscal year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9130" NEWID="4217">
<DATE>12-MAR-1987 09:57:17.68</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0046&#31;reute
r f BC-HADSON-&lt;HADS>-REGISTE   03-12 0047</UNKNOWN>
<TEXT>&#2;
<TITLE>HADSON &lt;HADS> REGISTERS 3.7 MLN COMMON SHARES</TITLE>
<DATELINE>    OKLAHOMA CITY, March 12 - </DATELINE><BODY>Hadson Corp said it filed a
registration with the Securities and Exchange Commission for an
underwritten offering of 3,750,000 new common shares to be
managed by Shearson Lehman Brothers Inc and PaineWebber Inc.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9131" NEWID="4218">
<DATE>12-MAR-1987 09:57:52.99</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>south-africa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0050&#31;reute
h f BC-GUARDIAN-NATIONAL-INS   03-12 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>GUARDIAN NATIONAL INSURANCE CO LTD &lt;GARJ J> YEAR</TITLE>
<DATELINE>    JOHANNESBURG, March 12 -
    </DATELINE><BODY>Shr 100.6 cts vs 76.9 cts
    Final div 40 cts vs 32 making 58 cts vs 50
    Pre-tax 14.17 mln rand vs 8.85 mln
    Net 10.06 mln vs 7.69 mln
    Tax 4.10 mln vs 1.16 mln
    Gross premiums 210.16 mln vs 178.69 mln
    Net premiums written 143.99 mln vs 123.88 mln
    Underwriting loss 1.78 mln vs loss 6.25 mln
    Div pay April 10, register March 27.
    Note - period year to December 31 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9132" NEWID="4219">
<DATE>12-MAR-1987 09:57:57.84</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;f0051&#31;reute
d f BC-DATAMETRICS-CORP-&lt;DMC   03-12 0047</UNKNOWN>
<TEXT>&#2;
<TITLE>DATAMETRICS CORP &lt;DMCZ> 1ST QTR JAN 31 NET</TITLE>
<DATELINE>    CHATSWORTH, Calif., March 12 -
    </DATELINE><BODY>Shr diluted five cts vs 13 cts
    Net 278,780 vs 442,532
    Revs 5,101,747 vs 4,293,393
    Avg shrs diluted 6,050,968 vs 3,414,145
    NOTE: Net includes tax credits of 123,500 dlrs vs 179,000
dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9133" NEWID="4220">
<DATE>12-MAR-1987 10:01:39.53</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;f0060&#31;reute
d f BC-WIENER-ENTERPRISES-IN   03-12 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>WIENER ENTERPRISES INC &lt;WPB> YEAR JAN 31 NET</TITLE>
<DATELINE>    HARAHAN, La., March 12 -
    </DATELINE><BODY>Shr 60 cts vs 85 cts
    Qtly div 10 cts vs 10 cts prior
    Net 1,407,000 vs 1,996,000
    Sales 75.4 mln vs 58.2 mln
    NOTE: Dividend pay April 16, record April Nine
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9134" NEWID="4221">
<DATE>12-MAR-1987 10:02:18.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0063&#31;reute
h f BC-GENENTECH-CONVERTIBLE   03-12 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>GENENTECH CONVERTIBLE BOND UPPED TO 150 MLN DLRS</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>The convertible eurobond issue announced
yesterday for Genentech Inc &lt;GENE.O> has been increased to a
total of 150 mln dlrs from 100 mln, Credit Suisse First Boston
Ltd (CSFB) said as lead manager.
    The coupon has been set at five pct and conversion price at
74 dlrs per share which represents a 23.85 pct premium over
Genentech's stock closing level of 59.75 on the New York Stock
Exchange last night.
    Payment date has been brought forward to March 27 from
March 30 and the bonds will mature on March 27, 2002.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9135" NEWID="4222">
<DATE>12-MAR-1987 10:02:36.06</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f0065&#31;reute
r f BC-HYDRO-QUEBEC-ISSUES-C   03-12 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>HYDRO QUEBEC ISSUES CANADIAN DLR BOND</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>Hydro Quebec is issuing a 125 mln
Canadian dlr bond due April 21, 1997 paying nine pct and priced
at 100-3/4 pct, lead manager Merrill Lynch International said.
    The bond is available in denominations of 1,000 and 5,000
dlrs and will be listed in Luxembourg.
    Fees comprise 1-1/4 pct selling concession and 3/8 pct each
for management and underwriting. Pay date is April 21.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9136" NEWID="4223">
<DATE>12-MAR-1987 10:04:29.48</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;f0077&#31;reute
b f BC-K-MART-&lt;KM>-SAYS-RECO   03-12 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>K MART &lt;KM> SAYS RECORD 1986 NET "TURNING POINT"</TITLE>
<DATELINE>     TROY, Mich., March 12 - </DATELINE><BODY>K Mart Corp said its record fiscal
1986 net earnings of 582.3 mln dlrs, a rise from 221.2 mln dlrs
a year ago, marked a "major turning point" for the world's
second biggest retailer.
    K Mart said the earnings rise for the fourth quarter ended
January 28 to 285 mln dlrs from 10.5 mln dlrs resulted from 
"merchandising, refurbishing and expense control."
    A year ago, K Mart took a charge of 239 mln dlrs for
discontinued operations. Earnings from continuing retail
operations in the quarter totalled 270 mln dlrs or 2.00 dlrs a
share compared with 249.4 mln dlrs or 1.91 dlrs a year ago.
    K Mart Chairman Bernard Fauber said "the success of these
programs is better illustrated by the strong 35.9 pct increase
in 1986 income from continuing operations before income taxes
to 1.03 billion dlrs, the first time K Mart Corp has reached
this milestone."
    Sales for the 1986 fiscal year reached a record 23.8
billion dlrs, an 8.1 pct rise from 22.04 billion dlrs the prior
year. K Mart said 1985 was restated to account for discontinued
operations. Comparable store sales rose 5.5 pct in 1986 over
1985, it said.
    Fauber said the sales growth came from greater consumer
acceptance of K Mart's apparel merchandise, "a marked increase
in hardline merchandise sales and a growing contribution from
specialty retailing operations."
    K Mart said its fourth quarter pre-tax income from
continuing operations was 493 mln dlrs, a 32.3 pct gain from
372.6 mln dlrs last year. It said sales in the period grew 8.8
pct to 7.23 billion dlrs from a restated 6.65 billion dlrs in
1985 with comparable store sales up 4.7 pct.
    K Mart said its effective tax rate rose in 1986 to 44.6 pct
from 37.6 pct in 1985. But it said selling, general and
administrative expense eased to 23.2 pct of sales from 23.7 pct
in 1985.
    "Our performance in 1986 marks a major turning point for K
Mart," Fauber said in a statement.
    "In the years immediately prior to 1986, we focused on
changing the look of our stores and the structure of the
company."
    K Mart, he said, committed billion of dollars for store
remodeling and installing a centralized point of sale system,
upgraded its merchandise mix, acquired three large specialty
retailers, divested underperforming businesses and restructured
its long-term debt.
    "We were forced to pay a temporary price in the form of
slower earnings growth and a lower rating by the investment
community. However, beginning with the fourth quarter of 1985,
our improved performance is proof that our approach is correct
for the long term," the K Mart chairman said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9137" NEWID="4224">
<DATE>12-MAR-1987 10:08:55.47</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0093&#31;reute
d f BC-SONEX-RESEARCH-&lt;SONX>   03-12 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>SONEX RESEARCH &lt;SONX> SELLS STOCK PRIVATELY</TITLE>
<DATELINE>    ANNAPOLIS, Md., March 12 - </DATELINE><BODY>Sonex Research Inc said it has
completed a private sale of common shares and warrants for two
mln dlrs.
    It said if all warrants are exercised it will receive
another 4,600,000 dlrs.
    Proceeds will be used for working capital, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9138" NEWID="4225">
<DATE>12-MAR-1987 10:11:33.31</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0097&#31;reute
u f BC-BRITISH-AIRWAYS-&lt;BAB>   03-12 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>BRITISH AIRWAYS &lt;BAB> FEBRUARY LOAD FACTOR UP</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>British Airways PLC said February 1987
load factor rose to 64.7 pct, up 5.4 percentage points  from
February 1986.
    Revenue passenger miles increased 14.8 pct in February to
1.75 billion but fell 0.7 pct in the fiscal year-to-date to
23.54 billion, the British carrier said.
    Available seat miles rose 5.2 pct in February to 2.73
billion and 1.3 pct in the 11 months to 35.27 billion.
    Load factor, the percentage of seats filled, fell 1.4
percentage points to 66.7 pct in the April through February
period.
    The British carrier made its first traffic report since the
British Government sold it to the public last month.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9139" NEWID="4226">
<DATE>12-MAR-1987 10:11:41.06</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0098&#31;reute
u f BC-ROCKEFELLER-SAYS-BRAZ   03-12 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>ROCKEFELLER SAYS BRAZIL SOLUTION WILL BE FOUND</TITLE>
<DATELINE>    FRANKFURT, March 12 - </DATELINE><BODY>David Rockefeller, chairman of the
international advisory committee of Chase Manhattan Bank NA,
said an accommodation would be found between Brazil and its
commercial bank creditors to solve the problem of the nation's
recent interest payment halt.
    "I think one will find that the banking community, the
Brazilian government and the international banking authorities
will be talking for the next several weeks and I am very
hopeful that we would find an accommodation." Rockefeller told
bankers at a luncheon.
    Brazil announced on February 20 that it was suspending
interest repayments on about 68 billion dlrs of private sector
debt owed to commercial banks.
    Rockefeller said the recent tour by Brazilian Finance
Minister Dilson Funaro of major industrial nations was a sign
that Brazil wanted to be cooperative. But it was notable that
Funaro did not meet with the creditors immediately affected,
the commercial bankers, he added.
    Brazil's moratorium on commercial debt becomes critical by
end-May, when payments would be 90 days overdue, obliging U.S.
Regulators to downgrade Brazilian debt, financial sources said.
    This would require banks in turn to cease accruing interest
and set aside expensive loan loss reserves.
    Rockefeller reminded bankers of the depth of concern over
Latin American debt at the Toronto World Bank/International
Monetary Fund meeting in 1982, and said an accord would be
reached in the current circumstances just as it had been then.
    "(Brazilian authorities) have no more interest in seeing
their credit sources cut off then we have in seeing their
obligations stop," he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9140" NEWID="4227">
<DATE>12-MAR-1987 10:14:33.18</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;f0107&#31;reute
r f BC-DAINIPPON-INK-TO-INVE   03-12 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>DAINIPPON INK TO INVEST IN QUIXOTE &lt;QUIX></TITLE>
<DATELINE>    CHICAGO, March 12 - </DATELINE><BODY>Quixote Corp said Dainippon Ink and
Chemicals Inc of Japan will buy 526,315 shares of Quixote
common stock, a 6.7 pct stake, for 10 mln dlrs, or 19 dlrs a
share.
    It said the two companies also agreed to share the results
of their research and development activities in optical disc
technology.
    Dainippon Inc's optical disc technology focuses on the
development of a new Direct-Read-After-Write optical disc and
an advanced erasable optical disc.
    Quixote said its wholly owned subsidiary, LaserVideo Inc,
is making advancements in the art of mastering and
manufacturing Compact Discs, CD-ROMs and laser-read videodiscs.
    Quixote said the agreement with Dainippon, which has annual
sales of more than two billion dlrs, provides for a Dainippon
representative to sit on the LaserVideo board of directors.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9141" NEWID="4228">
<DATE>12-MAR-1987 10:15:43.68</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;f0114&#31;reute
s f BC-CIRCUIT-CITY-STORES-I   03-12 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>CIRCUIT CITY STORES INC &lt;CC> SETS QUARTERLY</TITLE>
<DATELINE>    RICHMOND, Va., March 12 -
    </DATELINE><BODY>Qtly div 1-1/2 cts vs 1-1/2 cts prior
    Pay April 15
    Record March 30
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9142" NEWID="4229">
<DATE>12-MAR-1987 10:16:06.98</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;f0116&#31;reute
u f BC-KNOLL-TO-BUY-AMERICAN   03-12 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>KNOLL TO BUY AMERICAN SAVINGS &lt;AAA> SHARES</TITLE>
<DATELINE>    MIAMI, March 12 - </DATELINE><BODY>American Savings and Loan Association of
Florida said &lt;Knoll International Holdings Inc> has offered to
purchase 500,000 new shares of American Savings for 10 mln
dlrs, and the board has accepted Knoll's offer.
    Knoll already owns 796,413 shares or 9.9 pct of American
Savings.
    American Savings said the purchase will resolve a
previously-announced disagreement between American Savings and
the Federal Home Loan Bank of Atlanta on the replacement of the
capital American Savings used to repurchase common shares in
January 1985 from former chairman Marvin L. Warner.
    It said completion of the transaction would give Knoll 15
pct ownership in American Savings.
    American Savings said Knoll also had talks with chairman of
the executive committee Shepard Broad and chairman Morris Broad
on the purchase of their American Savings shares as well at 20
dlrs each but no agreement was reached.
    American Savings said The company said Knoll's offer to buy
the new shares is not conditioned on other purchase of common
stock from any person or entity.
    It said its previously-announced engagement of Salomon Inc
&lt;SB> to evaluate alternatives to enhance shareholder values,
including the possible sale of American Savings, is still being
actively pursued.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9143" NEWID="4230">
<DATE>12-MAR-1987 10:16:14.56</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0117&#31;reute
u f BC-FORD-&lt;F>-EXTENDS-INCE   03-12 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>FORD &lt;F> EXTENDS INCENTIVES ON SOME MODELS</TITLE>
<DATELINE>    DEARBORN, MICH., March 12 - </DATELINE><BODY>Ford Motor Co said it extended
its current buyer incentive program on selected cars and light
trucks to April Six.
    It also said it added the Ford Taurus and Mercury Sable to
the program which gives customers a choice of 3.9- to
9.9-annual percentage rate financing.
    Ford said buyers of all 1986 and 1987 Taurus and Sable
models can choose between the low financing rates or cash
allowances of 400 dlrs.
    Buyers of all other eligible cars will get a cash allowance
of up to 600 dlrs, plus the low financing rates. It said those
buying trucks can choose between the low financing or a cash
rebate of up to 600 dlrs.
    Ford said the program takes effect now and applies to most
vehicles delivered to retail customers from dealer stock. A
program for Mustang ends March 31 as announced earlier.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9144" NEWID="4231">
<DATE>12-MAR-1987 10:16:26.60</DATE>
<TOPICS><D>cotton</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0118&#31;reute
r f BC-IGENE-BIOTECHNOLOGY-&lt;   03-12 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>IGENE BIOTECHNOLOGY &lt;IGNE> FINDS CROP LOSS AID</TITLE>
<DATELINE>    COLUMBIA, Md., March 12 - </DATELINE><BODY>IGENE Biotechnology Inc said its
research teams at Auburn and Hebrew universities have found its
patented pesticide is highly effective in combating a disease
reponsible for approximately three billion dlrs in annual crop
losses.
    The company said it learned ClandoSan controls nematodes,
deadly plant pathogens formerly controlled by now-banned
synthetic chemicals.
    Varieties of the deadly disease attack major cash crops
such as cotton, vegetables, orchard trees, citrus fruits, and
garden plants, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9145" NEWID="4232">
<DATE>12-MAR-1987 10:18:49.48</DATE>
<TOPICS><D>earn</D><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;f0135&#31;reute
r f BC-PHILLIPS-&lt;P>-TO-EMPHA   03-12 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILLIPS &lt;P> TO EMPHASIZE CASH FLOW TO PARE DEBT</TITLE>
<AUTHOR>    By Ted D'Afflisio, Reuters</AUTHOR>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Phillips Petroleum Co will emphasize
improving its short-term cash flow this year to pare its debt,
C.J. "Pete" Silas, chairman, told Reuters in an interview.
    "Our priority is to get cash flow increased from the assets
already installed," he said, but he declined to estimate annual
cash flow for 1987.
    Analysts estimate Phillips" cash flow at over one billion
dlrs for 1987, while long term debt, which resulted from
restructuring to find off corporate raiders in 1985, hovers
about 5.9 billion dlrs as of December 1986.
     Silas said Phillips hope to achieve its goal by raising
the capital expenditures budget to develop its oil and gas
properties.
    "We plan to develop the properties with short-term high cash
flow prospects," he said. He projected a capital expenditure
budget of 730 mln dlrs, up from the 1986 expenditure of 655 mln
dlrs.
    Nearly half of that will be spent on exploration and
production, and most of that will be spend overseas, Silas
said.
    "Phillips' top priority in 1987 will be to get the
waterflooding in Norway and jack up the (Ekofisk) oil fields to
improve our ability to extract oil and increase earnings," Silas
said.
     Phillips estimates that the project, which is expected to
cost 1.5 billion dlrs, will increase recovery by 170 mln gross
barrels of oil over a period of 24 years.
    Phillips is also pursue opportunities in China where Silas
said he was seeking "a modification of terms with the Chinese
government to make oil discoveries (in the offshore Xijang
fields) commercially viable."
    In the U.S. Silas said Phillips hopes to get the Point
Arguello, Calif., field started up by the fourth quarter. "We
expect to start up the first platform then," Silas said.
    But emphasis on short-term cash flow has also forced the
company to part with several oil and gas assets.
    Phillips sold its interests in the T-Block in the U.K.
North Sea and U.S. reserves totaling about 1.3 billion dlrs in
1986 as part of a two billion dlrs asset sales program that is
now completed, Silas said.
     "We sold high cost producing assets. They were not good
value for us but possibly so for someone else," Silas said.
    Silas said the 1986 assets sales will not affect earnings
for the company.
    "Everything we are doing is to manage our cash flow and we
are using that to manage our debt. Even the asset sales, while
regrettable, were necessary to reduce debt," Silas said.
    He said no asset sales are planned this year as long as oil
prices don't fall sharply lower and stay at lower levels  for
several months. "Then, everyone would be looking at sales (of
assets), and we're no different from the others," Silas said.
    In other areas, Silas looks for improved earnings from
Phillips chemical operations, which provided 299 mln dlrs in
earnings for 1986, up from 219 mln dlrs in 1985.
    "This was our second best year pushed by a good supply and
demand balance for products, low feedstocks and energy costs
for our operations," Silas said, "In 1987 we think the market's
supply and demand balance will be just as good but feedstock
and energy costs will rise due to price recovery."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9146" NEWID="4233">
<DATE>12-MAR-1987 10:19:08.67</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 RM
&#22;&#22;&#1;f0137&#31;reute
r f BC-merrill-lynch-canada   03-12 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>MERRILL LYNCH&lt;MER> CANADA MULLS BUYING BROKER</TITLE>
<DATELINE>    TORONTO, March 12 - </DATELINE><BODY>Merrill Lynch Canada Inc, wholly owned
by Merrill Lynch and Co, is considering acquiring another
Canadian securities company as the result of federal and
provincial government moves to lift investment dealer ownership
restrictions on June 30, according to a published report.
    "We're talking to a number of people," Merrill Lynch Canada
deputy chairman E. Duff Scott told The Toronto Star. "Whether
we're going to do something, I don't know," he said.
    A Merrill Lynch Canada spokesman declined to comment on the
newspaper report when queried.
    Scott did not disclose which investment dealers Merrill
Lynch Canada was considering acquiring, but the Toronto Star
quoted unidentified industry sources as saying serious
discussions have already been held with Burns Fry Ltd.
    Burns Fry chairman Jack Lawrence told the newspaper the
investment dealer has not made a final decision, but was
examining "three or four alternatives."
    Discussions between brokers about possible mergers is to be
expected pending industry deregulation, one investment industry
source, who asked not to be named, told Reuters.
    "It's silly not to take a look (at making a merger or
acquisition). If you're a businessman, you have to take a look,"
the industry source said.
    Under federal and provincial government regulations
expected to be in place by June 30, banks, trust companies and
foreign companies will be allowed to acquire existing
investment dealers or establish their own securities
subsidiaries.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9147" NEWID="4234">
<DATE>12-MAR-1987 10:19:13.32</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0138&#31;reute
d f BC-PERFECTDATA-&lt;PERF>-IN   03-12 0030</UNKNOWN>
<TEXT>&#2;
<TITLE>PERFECTDATA &lt;PERF> IN JOINT LICENSING PACT</TITLE>
<DATELINE>    CHATSWORTH, Calif., March 12 -  </DATELINE><BODY>PerfectData Corp said it
agreed to license certain disk cleaning related patents to the
&lt;Texwipe Co>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9148" NEWID="4235">
<DATE>12-MAR-1987 10:19:20.07</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;f0139&#31;reute
d f BC-MOST-AMERICAN-AGGREGA   03-12 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>MOST AMERICAN AGGREGATES &lt;AMAG> STOCK ACQUIRED</TITLE>
<DATELINE>    NEWPORT BEACH, Calif., March 12 - </DATELINE><BODY>&lt;Consolidated Gold Fields
PLC>'s ARC America Corp subsidiary said it has acquired
7,521,643 American Aggregates Corp shares, about 95 pct of
those outstanding, as a result of its tender offer which
expired February 27.
    As soon as is practicable, ARC America will acquire
American Aggregates, converting the company's remaining shares
into the right to receive 30.625 dlrs a share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9149" NEWID="4236">
<DATE>12-MAR-1987 10:19:32.05</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>pse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0141&#31;reute
d f BC-FRANCE-PLANS-TIGHTER   03-12 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>FRANCE PLANS TIGHTER SHAREHOLDING DISCLOSURE LEVELS</TITLE>
<DATELINE>    PARIS, March 12 - </DATELINE><BODY>The French government plans new
legislation this year which will lower the thresholds at which
investors in companies must declare their shareholdings, Bourse
officials said.
    The new rules, part of a scheme to provide more openness in
corporate ownership structure, will lower the initial
declaration threshold to five pct of a company's capital.
    Under current rules, an investor has to notify the Bourse
supervisory commission when a holding exceeds 10 pct, and again
at 33 pct and 50 pct. The officials said a 20 pct level has
also been added to the scale.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9150" NEWID="4237">
<DATE>12-MAR-1987 10:19:40.20</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;f0142&#31;reute
d f BC-BIOTECH-CAPITAL-&lt;BITC   03-12 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>BIOTECH CAPITAL &lt;BITC> TO BUY MAGAZINE</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Biotech Capital Corp said it agreed to
buy High Technology magazine from the Goldhirsh Group of
Boston.
    Terms were not disclosed.
    The magazine publishes information about emerging
technologies and their impact on business. It has a circulation
of 200,000 and is the largest of its kind in the world, the
company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9151" NEWID="4238">
<DATE>12-MAR-1987 10:19:55.90</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>pakistan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0144&#31;reute
r f BC-PAKISTAN'S-TRADE-DEFI   03-12 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>PAKISTAN'S TRADE DEFICIT NARROWS IN FEBRUARY</TITLE>
<DATELINE>    KARACHI, March 12 - </DATELINE><BODY>Pakistan's trade deficit narrowed to
2.64 billion rupees (provisional) in February 1987 from 2.85
billion (final) in January and compared with 2.94 billion in
February 1986, the Federal Bureau of Statistics figures show.
    Exports fell to 5.04 billion rupees (provisional) in
February from 5.34 billion (final) in January and compared with
3.90 billion in February 1986.
    Imports fell to 7.68 billion rupees (provisional) in
February from 8.19 billion (final) in January and compared with
6.84 billion in February 1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9152" NEWID="4239">
<DATE>12-MAR-1987 10:21:36.78</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;f0150&#31;reute
r f BC-CORRECTED-INSITUFORM   03-12 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>CORRECTED-INSITUFORM OF NORTH AMERICA INC&lt;INSUA></TITLE>
<DATELINE>    MEMPHIS, Tenn., March 12 - </DATELINE><BODY>4th qtr
    Shr nine cts vs four cts
    Net 658,159 vs 299,930
    Revs 3,770,341 vs 2,614,224
    Avg shrs 7,382,802 vs 6,747,442
    Year
    Oper shr 33 cts vs 18 cts
    Oper net 2,287,179 vs 1,045,799
    Revs 13.1 mln vs 8,577,853
    Avg shrs 6,874,505 vs 5,951,612
    NOTE: 1985 year net excludes 13,000 dlr tax credit.
    Corrects March 11 item to exclude tax credit
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9153" NEWID="4240">
<DATE>12-MAR-1987 10:21:43.73</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;f0152&#31;reute
s f BC-COLGATE-PALMOLIVE-CO   03-12 0022</UNKNOWN>
<TEXT>&#2;
<TITLE>COLGATE-PALMOLIVE CO &lt;CL> SETS QUARTERLY</TITLE>
<DATELINE>    NEW YORK, March 12 -
    </DATELINE><BODY>Qtly div 34 cts vs 34 cts prior
    Pay May 15
    Record April 24
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9154" NEWID="4241">
<DATE>12-MAR-1987 10:23:22.43</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;f0160&#31;reute
u f BC-CO-OPERATIVE-BANCORP   03-12 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>CO-OPERATIVE BANCORP &lt;COBK> RAISES QUARTERLY</TITLE>
<DATELINE>    CONCORD, Mass., March 12 -
    </DATELINE><BODY>Qtly div 12-1/2 cts vs 10 cts prior
    Pay April 15
    Record March 31
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9155" NEWID="4242">
<DATE>12-MAR-1987 10:23:42.49</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0162&#31;reute
u f BC-HYDRO-QUEBEC-CANADIAN   03-12 0040</UNKNOWN>
<TEXT>&#2;
<TITLE>HYDRO QUEBEC CANADIAN DLR BOND RAISED TO 150 MLN</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>The Canadian dollar bond launched
earlier today for Hydro Quebec has been increased to 150 mln
dlrs from 125 mln, lead manager Merrill Lynch International
said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9156" NEWID="4243">
<DATE>12-MAR-1987 10:23:55.69</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0164&#31;reute
r f BC-VISHAY-INTERTECHNOLOG   03-12 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>VISHAY INTERTECHNOLOGY &lt;VSH> CLARIFIES OFFER</TITLE>
<DATELINE>    MALVERN, Pa, March 12 - </DATELINE><BODY>Vishay Intertechnology Inc said it
wished to clarify its pending offer to exchange shares of its
Class B stock for its outstanding common stock
    The company said shareholders who already have or plan to
take advantage of the offer, may withdraw their offer by the
close of business March 25, 1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9157" NEWID="4244">
<DATE>12-MAR-1987 10:24:06.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0165&#31;reute
r f BC-CONSUMERS-POWER&lt;CMS>   03-12 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>CONSUMERS POWER&lt;CMS> TO REDEEM PREFERRED STOCK</TITLE>
<DATELINE>    JACKSON, MICH., March 12 - </DATELINE><BODY>Consumers Power Co said it will
redeem 200,000 shares of its 3.85 dlr preference stock at 27.50
dlrs a share plus accrued dividends of 0.320833 dlrs a share.
    It said the redemption will be made May One to holders of
record March 23, with shares selected by random lot.
    It said some 100,000 of the shares are being redeemed under
mandatory sinking fund provisions. The balance will be redeemed
at the company's option as part of its efforts to reduce its
cost of capital.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9158" NEWID="4245">
<DATE>12-MAR-1987 10:24:29.91</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;f0167&#31;reute
s f BC-WILCOX-AND-GIBBS-INC   03-12 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>WILCOX AND GIBBS INC &lt;WG> SETS PAYOUT</TITLE>
<DATELINE>    NEW YORK, March 12 -
    </DATELINE><BODY>Semi div 7-1/2 cts vs 7-1/2 cts prior
    Pay April 30
    Record March 31
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9159" NEWID="4246">
<DATE>12-MAR-1987 10:24:54.38</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>saudi-arabia</D></PLACES>
<PEOPLE><D>king-fahd</D></PEOPLE>
<ORGS><D>opec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0169&#31;reute
u f BC-SAUDI-OUTPUT-SAID-AT   03-12 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>SAUDI OUTPUT SAID AT YEAR LOW TO HELP OPEC</TITLE>
<AUTHOR>    By Philip Shehadi, Reuters</AUTHOR>
<DATELINE>    RIYADH, March 12 - </DATELINE><BODY>Saudi Arabian oil output has fallen to
its lowest level in more than a year, giving fresh evidence of
the kingdom's determination to keep oil prices at 18 dlrs a
barrel, as agreed by Opec last December, oil industry sources
said.
    They said Saudi output in the first eight days of March
averaged 2.6 mln barrels per day (bpd) including oil from the
neutral zone shared with Kuwait, compared to a February average
of 3.5 mln bpd.
    They said Saudi Arabia was also selling oil from its crude
oil stocks in tankers around the world, which OPEC says must be
counted towards a member's production quota. Saudi Arabia's
quota is 4.133 mln bpd.
    The lower production levels indicated Saudi Arabia, the
world"s largest oil exporter, was insisting on getting Opec
official prices, even at the cost of lower production, the
sources said.
    King Fahd reiterated yesterday, in an interview with
Reuters and the television news agency Visnews, the Saudi
commitment to OPEC's December pact to boost oil prices to an
average 18 dlrs.
    "Saudi Arabia is completely sticking to OPEC decisions," he
said.
    The sources said the kingdom's exports from Gulf ports
averaged one mln bpd during the eight days ending last Sunday,
down from a February average of 1.9 mln bpd.
    They said Saudi Arabia was allowing production to fluctuate
with lifting nominations and was not trying to maintain
artificially high levels by putting oil into storage.
    The kingdom's main buyers, the four U.S. Oil firms with
past stakes in the national oil company Aramco -- Mobil, Exxon,
Texaco and Chevron -- enjoy considerable flexibility in the
timing and volume of their liftings but are bound to pay
official prices, the sources said.
    Spot market prices have firmed in the past two weeks but
still remain below OPEC levels and major buyers have delayed
liftings in the hope they would improve, the sources said.
    They expected low early March output to pick up towards the
end of the month as buyers sought to fulfill their contractual
obligations.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9160" NEWID="4247">
<DATE>12-MAR-1987 10:26:49.07</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0175&#31;reute
d f BC-LEWIS-LEHRMAN-TO-JOIN   03-12 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>LEWIS LEHRMAN TO JOIN MORGAN STANLEY &lt;MS></TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Morgan Stanley Group Inc said Lewis E.
Lehrman will join the firm as senior advisor as a directory of
Morgan Stanley Asset Management.
    It said Lehrman will concentrate on the growth and
development of Morgan Stanley's asset management business in
the U.S., Europe and Asia.
    Lehrman, the former president and chairman of the executive
committee at Rite Aid Corpo &lt;RAD>, ran against Mario Cuomo as
the Republican and Conservative Party Candidate for governor of
New York State in 1982.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9161" NEWID="4248">
<DATE>12-MAR-1987 10:27:50.31</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0178&#31;reute
u f AM-PERLE-***URGENT   03-12 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>PERLE SAID PREPARING TO ANNOUNCE RESIGNATION</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>Assistant Defense Secretary Richard
Perle is preparing to announce his resignation from the
Pentagon, possibly as early as today, Pentagon officials said.
    The officials, who asked not to be identified, told Reuters
that Perle was expected to quit in order to become a private
defense consultant.
    Perle, a staunch critic of U.S.-Soviet arms control
agreements and an influential spokesman for anti-Soviet
hardliners in and out of the Reagan Administration, has served
as assistant defense secretary for international security
policy since 1981.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9162" NEWID="4249">
<DATE>12-MAR-1987 10:28:06.95</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;f0179&#31;reute
r f BC-LEADER-&lt;LDCO>-BUYS-PE   03-12 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>LEADER &lt;LDCO> BUYS PETROSURANCE STAKE</TITLE>
<DATELINE>    COLUMBUS, Ohio, March 12 - </DATELINE><BODY>Leader Development Corp said it
has purchased 300,000 shares of convertible preferred stock in
&lt;Petrosurance Inc> for 1,500,000 dlrs in cash and real estate.
    Petrosurance specializes in property and casualty insurance
for the oil industry.
    Leader said the stock is convertible into a Petrosurance
common. Leader said it already owns 12.5 pct of Petrorusrance
and conversion would give it about 45.0 pct.
    The company said Petrosurance will use the sale proceeds to
support growth and improve the structure of its reinsurance
treaties to retain a larger part of premiums written.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9163" NEWID="4250">
<DATE>12-MAR-1987 10:28:29.58</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0182&#31;reute
w f BC-JAMESWAY-&lt;JMY>-OPENS   03-12 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>JAMESWAY &lt;JMY> OPENS NEW STORE</TITLE>
<DATELINE>    LURAY, Va., March 12 - </DATELINE><BODY>Jamesway Corp said it has opened its
101st store, a 43,000 square foot unit in Luray, Va.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9164" NEWID="4251">
<DATE>12-MAR-1987 10:28:35.46</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0183&#31;reute
r f BC-&lt;TELCOM-GENERAL-CORP>   03-12 0036</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;TELCOM GENERAL CORP> PRESIDENT RESIGNS</TITLE>
<DATELINE>    SAN JOSE, Calif., March 12 - </DATELINE><BODY>Telcom General Corp, which
stopped operating a month ago, said Robert F. Friedman has
resigned as president, chief executive officer and a director.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9165" NEWID="4252">
<DATE>12-MAR-1987 10:29:03.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0185&#31;reute
h f BC-MONSANTO-&lt;MTC>-RESPON   03-12 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>MONSANTO &lt;MTC> RESPONDS TO CALL FOR LAWSUIT</TITLE>
<DATELINE>    SAUGET, ILL., March 12 - </DATELINE><BODY>Monsanto Corp said a call by the
Illinois Environmental Protection Agency requesting the
Illinois Attorney General file a lawsuit against the company is
"inappropriate and counterproductive."
    The company said the suit seeks to force Monsanto to
replace the chlorosulphonic acid cooling system at its William
G. Krummrich plant in Sauget, Ill.
    Monsanto said the basis for the agency's action was an
accident March Three in which the plant's acid unit experienced
an emission due to a failed expansion joint in the cooling
system.
    Monsanto said when the environmental agency recommended
that the company replace the present cooling system, it
contacted the manufacturer of the system to seek outside
technical advice.
    Monsanto said its analysis indicated that the present
system represents the safest technology for producing
chlorosulfonic acid, and removal of the system with expansion
joints would increase - not decrease - the chances of further
accidents.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9166" NEWID="4253">
<DATE>12-MAR-1987 10:32:34.22</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;f0198&#31;reute
s f BC-FEDERAL-REALTY-INVEST   03-12 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>FEDERAL REALTY INVESTMENT TRUST &lt;FRT> IN PAYOUT</TITLE>
<DATELINE>    BETHESDA, Md., March 12 -
    </DATELINE><BODY>Qtly div 27 cts vs 27 cts prior
    Pay April 15
    Record March 25
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9167" NEWID="4254">
<DATE>12-MAR-1987 10:35:25.81</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0214&#31;reute
r f BC-BDM-INTERNATIONAL-&lt;BD   03-12 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>BDM INTERNATIONAL &lt;BDM> GETS AIR FORCE CONTRACT</TITLE>
<DATELINE>    MCLEAN, Va., March 12 - </DATELINE><BODY>BDM International Inc said it has
received a 26.7 mln dlr contract to provide operations,
maintenance and test support to the U.S. Air Force Weapons
Laboratory Nuclear Simulator Test Facilities at Kirtland Air
Force Base in Albuquerque.
    The company said the contract covers a four-year peiod and
includes an option for another year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9168" NEWID="4255">
<DATE>12-MAR-1987 10:38:23.37</DATE>
<TOPICS><D>retail</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0227&#31;reute
u f BC-WHITE-HOUSE-WELCOMES   03-12 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>WHITE HOUSE WELCOMES RETAIL SALES FIGURES</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>The White House welcomed the
February retail sales figures showing a 4.1 pct rise, following
a slow performance in January.
    Spokesman Marlin Fitzwater told reporters: "The February
sales growth was broad-based and good news for the economy."
    Commerce Department figures showed a larger than expected
rise following depressed levels of sales and factory orders in
January.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9169" NEWID="4256">
<DATE>12-MAR-1987 10:41:54.43</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>philippines</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A F RM
&#22;&#22;&#1;f0240&#31;reute
u f BC-/TREASURY-OFFICIAL-SA   03-12 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>TREASURY OFFICIAL SAYS PHILIPPINE PACT VERY NEAR</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>An agreement in the debt rescheduling
talks between the Philippines and its commercial bank advisory
committee seems to be close at hand, said David Mulford,
Assistant Secretary of the U.S. Treasury.
    "The Philippines negotiations resumed in early March and
agreement now appears to be very near," Mulford told a debt
conference, organized by the Euromoney magazine.
    Mulford gave no further details. He told reporters after
his speech that he had no information on the banks' response to
the Philippines' revised proposal, based on partial payment of
interest with investment notes instead of cash.
    Progress in the Philippines talks, following recent
agreements with Mexico, Chile and Venezuela, will help to
dispel concerns of a new debt crisis, Mulford told the
conference.
    However, he said there will continue to be difficulties and
periods of significant risk, requiring creative thinking on the
part of the banks.
    In particular, he urged the banks to develop a "menu of
options for supporting debtor reforms as a means of maintaining
broad bank participation in new financing packages."
    Mulford said the banks should be able to offer a range of
options to members of the lending syndicates, provided that the
liquidity value of the total transactions to the debtor nations
is equivalent to the banks' new money obligation.
    He said it is more important to find ways of encouraging
banks to remain in the syndicates than to find ways of enabling
them to quit the lending groups.
    Mulford said his menu of options could include more trade
credits, direct portfolio investments, debt/equity swaps,
project loans, co-financings and the invesmtent note concept,
which has been proposed by the Philippines.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9170" NEWID="4257">
<DATE>12-MAR-1987 10:42:29.37</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;f0244&#31;reute
d f BC-BEAUTICONTROL-COSMETI   03-12 0028</UNKNOWN>
<TEXT>&#2;
<TITLE>BEAUTICONTROL COSMETICS INC &lt;BUTI> 1ST QTR NET</TITLE>
<DATELINE>    DALLAS, March 12 - </DATELINE><BODY>Qtr ends Feb 28
    Shr 10 cts vs 17 cts
    Net 411,275 vs 584,118
    Revs 4,977,818 vs 4,714,581
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9171" NEWID="4258">
<DATE>12-MAR-1987 10:42:57.51</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;f0247&#31;reute
d f BC-OLD-DOMINION-SYSTEMS   03-12 0031</UNKNOWN>
<TEXT>&#2;
<TITLE>OLD DOMINION SYSTEMS INC &lt;ODSI> 1ST QTR JAN 31</TITLE>
<DATELINE>    GERMANTOWN, Md., March 12 -
    </DATELINE><BODY>Shr loss 11 cts vs profit five cts
    Net loss 279,726 vs profit 76,591
    Revs 1,300,000 vs 2,200,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9172" NEWID="4259">
<DATE>12-MAR-1987 10:43:13.22</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>sweden</D><D>south-africa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0248&#31;reute
u f BC-SWEDEN-SETS-OCTOBER-D   03-12 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>SWEDEN SETS OCTOBER DEADLINE FOR S.AFRICA BOYCOTT</TITLE>
<DATELINE>    STOCKHOLM, March 12 - </DATELINE><BODY>Sweden announced its promised program
of unilateral economic sanctions against South Africa and gave
firms an October deadline to cut trading links.
    Foreign Trade Minister Anita Gradin said a trade boycott of
South Africa and neighbouring Namibia would take effect from
July 1, followed by a three-month period of grace to give
companies time to wind down their operations.
    From October 1, no direct trade would be allowed in either
direction, with certain exceptions covering medical supplies
and printed matter, Gradin told a news conference.
    She said exceptions would also be granted in cases where a
Swedish trade boycott would benefit South African firms and
disadvantage South Africa's black-ruled neighbours, the
front-line states.
    Gradin cautioned that legislation upon which the boycott
would be based was not impossible to get round. She said a
parliamentary committee would investigate ways of closing some
of the bigger loopholes, including indirect trade with South
Africa via Swedish subsidiaries in third countries.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9173" NEWID="4260">
<DATE>12-MAR-1987 10:43:27.43</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0249&#31;reute
d f BC-GENERAL-BUILDING-INIT   03-12 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL BUILDING INITIAL SHARE OFFER UNDER WAY</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>&lt;General Building Products Corp> is
offering one mln shares of stock at 11 dlrs a share, said
co-managing underwriters, PaineWebber Inc and Ladenburg
Thalmann and Co Inc.
    Proceeds from the offering will be used to repay short-term
debt, to finance the opening of new locations and as working
capital, they said.
    The company, headquarted in Medford, N.Y., sells lumber and
building supplies to building contractors and, through retail
outlets, to consumers.
 
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9174" NEWID="4261">
<DATE>12-MAR-1987 10:49:56.74</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;f0270&#31;reute
r f BC-FIDELITY-NATIONAL-FIN   03-12 0039</UNKNOWN>
<TEXT>&#2;
<TITLE>FIDELITY NATIONAL FINANCIAL INC &lt;FNF> 1ST QTR</TITLE>
<DATELINE>    SCOTTSDALE, Ariz., March 12 - </DATELINE><BODY>Jan 31 end
    Shr profit 49 cts vs loss not given
    Net profit 1,360,000 vs loss 241,000
    Revs 20.8 mln vs 14.3 mln
    Avg shrs 2,760,000 vs 1,970,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9175" NEWID="4262">
<DATE>12-MAR-1987 10:51:09.06</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0273&#31;reute
u f BC-FRANCE'S-CENCEP-ISSUE   03-12 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>FRANCE'S CENCEP ISSUES 1.9 BILLION FRANC BOND</TITLE>
<DATELINE>    PARIS, March 12 - </DATELINE><BODY>Centre National des Caisses d'Epargne et
de Prevoyance (CENCEP) said it is issuing a 1.9 billion franc
two-tranche, 12-year domestic bond led by Caisse des Depots et
Consignations.
    One 1.3 billion franc tranche of 5,000 franc bonds will
have a fixed rate of 8.70 pct and issue price of 96.30 pct. A
600 mln franc tranche of 5,000 franc bonds will carry interest
of nine pct in the first year and then will have interest based
on 90 pct of average bond market yields (TMO) with a guaranteed
minimum of 5.5 pct. Issue price is 97.16 pct.
    Payment date for both non-callable tranches is April 6.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9176" NEWID="4263">
<DATE>12-MAR-1987 10:56:27.16</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0284&#31;reute
w f BC-HERLEY-MICROWAVE-&lt;HRL   03-12 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>HERLEY MICROWAVE &lt;HRLY> WINS CONTRACTS</TITLE>
<DATELINE>    LANDCASTER, Penn., March 12 - </DATELINE><BODY>Herley Microwave Systems Inc
said it won a series of contract additions and new awards worth
7.7 mln dlrs.
    It said the contracts were from the U.S. Navy and Airforce,
Martin Marietta Corp &lt;ML>, and Northrop Corp &lt;NOC>. The orders
are scheduled to be delivered in 1987 and early 1988.
    The company said its Jan 31 backlog was 20 mln dlrs against
21 mln dlrs a year ago.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9177" NEWID="4264">
<DATE>12-MAR-1987 10:58:25.02</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;f0290&#31;reute
r f BC-SHOWBOAT-&lt;SBO>-UNIT-S   03-12 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>SHOWBOAT &lt;SBO> UNIT SELLS MORTGAGE-BACKED BONDS</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Ocean Showboat Finance Corp, a unit of
Showboat Inc, is raising 180 mln dlrs through an offering of
mortgage-backed bonds due 2002 with an 11-3/8 pct coupon and
par pricing, said sole manager Donaldson, Lufkin and Jenrette
Securities Corp.
    Moody's Investors Service Inc rates the bonds B-1 and
Standard and Poor's Corp rates them B-plus.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9178" NEWID="4265">
<DATE>12-MAR-1987 10:58:29.20</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;f0291&#31;reute
h f BC-VITRONICS-&lt;VITX>-PLAN   03-12 0028</UNKNOWN>
<TEXT>&#2;
<TITLE>VITRONICS &lt;VITX> PLANS BRITISH PLANT</TITLE>
<DATELINE>    NEWMARKET, N.H., March 12 - </DATELINE><BODY>Vitronics Corp said it plans to
establish a plant in Plymouth, England, to serve European
customers.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9179" NEWID="4266">
<DATE>12-MAR-1987 10:59:05.96</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;f0293&#31;reute
u f BC-BRITISH-TELECOM-CAUTI   03-12 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>BRITISH TELECOM CAUTIOUS ON EARNINGS PROSPECTS</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>British Telecommunications Plc's &lt;BTY.L>
profit growth prospects for the coming years will be reduced by
increasing competition and continued costs for replacing old
telephone systems, deputy chairman Graeme Odgers said.
    Speaking at a news conference on the third quarter results
which were released earlier today, Odgers said the company
faced heavy costs for installing new digital telephone systems
in Britain for three to five years.
    He said &lt;Mercury Communications Ltd>, a Cable and Wireless
Plc &lt;CAWL.L> subsidiary, was becoming a significant competitor.
    Odgers said Mercury was seeking to make inroads into some
of British Telecom's most profitable areas.
    One company official privately estimated that British
Telecom still had a 99 pct share of the U.K. Telecommunications
market but feared that this could slip to 95 or 90 pct.
    The recent two-and-a-half-week engineering strike, which
lead to some disruption in service, could well have encouraged
clients to consider using the Mercury system, Odgers said.
    However, he forecast that the last quarter's results
overall should not be adversely affected by the walkout.
    He calculated salary savings as a result of the strike at
50 mln stg and while loss of income on telephone calls should
be limited revenue probably dropped on peripheral activities.
    But on balance Odgers said that group's financial strength,
economies of scale and the fact that it operates in a growth
industry will help produce annual profit increases for the
forseeable future.
    British Telecom will also seek to expand into
manufacturing, he said, adding that research and development
expenditure will rise both in terms of value and compared with
the current proportion of two pct of overall turnover.
    Analysts said the company's downbeat forecasts helped
shares dip to 242p in mid-afternoon, down 4p from yesterday's
close and off an early high of 248p.
    Philip Augar of stockbrokers Wood Mackenzie and Co Ltd said
the market expects slower profit growth, but forecast a seven
to eight pct rise in both earnings per share and pretax profit
over the next two years. In the 1985/86 financial year, pre-tax
profit rose to 1.81 billion stg from 1.48 billion.
    Augar noted that a government-imposed formula linking
charges to inflation meant that the company's scope for raising
prices was limited as long as inflation remains low.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9180" NEWID="4267">
<DATE>12-MAR-1987 10:59:14.45</DATE>
<TOPICS><D>coffee</D></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ico-coffee</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0294&#31;reute
b f BC-NO-NEAR-TERM-BRAZIL-C   03-12 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>NO NEAR TERM BRAZIL COFFEE MOVES EXPECTED</TITLE>
<AUTHOR>    By Richard Jarvie, Reuters</AUTHOR>
<DATELINE>    RIO DE JANEIRO, March 12 - </DATELINE><BODY>The Brazilian Coffee Institute,
IBC, is unlikely to disclose its future export policy until the
end of next week at the earliest, trade sources said.
    IBC president Jorio Dauster is meeting government
ministers, producers, exporters and market analysts to assess
Brazil's position in the light of the failure of talks in
London earlier this month to set new International Coffee
Organization, ICO, export quotas.
    "The failure of the talks means Brazil has got to rethink
its position completely," one Santos exporter said.
    A meeting of the National Coffee Policy Council is set for
Thursday, March 19, and Dauster will almost certainly explain
his plan to members then before announcing any new measures.
    Dauster told reporters on his return from London last week
that no decisions would be made on exports before he had held
talks with all sectors of the industry.
    Exporters said Dauster is not under any great pressure to
start marketing coffee immediately. World prices have been
recovering from the lows which followed the collapse of the ICO
talks and Brazil has sold a reasonable 5.5 mln bags of 60 kilos
for export in the first four months of this year.
    The exporters said the key factor in the eventual opening
of May and June export registrations will be the amount at
which the contribution quota is set.
    With little expectation of other sales incentive mechanisms
such as discounts, bonuses and price fall guarantees being
introduced, the level of the quota will be decisive in
determining the competitiveness of Brazilian coffee on world
markets, they said.
    They noted that on February 16, the eve of a planned
increase in the quota, April registrations were opened and
closed after 1.68 mln bags were registered for export, a record
amount for a single day.
    If May/June registrations are opened under similar
conditions as before, Brazil would have no difficulty in
selling at least 2.0 mln bags per month.
    "The problem would be how to limit sales," one exporter said.
    Brazil's present foreign trade and payments problems mean
there are pressures from the government to boost exports to
maximise foreign exchange earnings.
    However, the sources said they expect the IBC to adopt a
marketing strategy aimed at regaining Brazil's dominant
position as an exporter, but without causing a price war.
    General opinion among exporters was that Brazil would plan
to export between 17 and 18 mln bags this year of which between
1.5 and 2.0 mln would be to non-members of the ICO.
    The 15.5 mln to 16 mln bags sold to members would be around
the figure Brazil had offered to ship if ICO quotas were
reintroduced, although Dauster has said this offer expired with
the breakdown of talks.
    With the prospects of a crop of at least 28 mln bags this
year, Brazil has the capacity to export up to 20 mln bags after
meeting local consumption of around 7.0 mln, the sources added.
    However, the sources said Brazil is unlikely even to
consider exporting such quantities, as this would almost
inevitably lead to a fall in world prices as Brazil tried to
encroach on other producers' markets.
    Maximum export earnings would be achieved by orderly
marketing of traditional amounts, thus re-establishing Brazil's
market share after last year's unusually low exports of 9.9 mln
bags, enabling it to rebuild stocks and maintaining cordial
relations with the producer group which backed Brazil's stance
at the ICO talks, they added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9181" NEWID="4268">
<DATE>12-MAR-1987 11:01:28.46</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L T
&#22;&#22;&#1;f0298&#31;reute
d f BC-REAGAN-SENDS-CONGRESS   03-12 0143</UNKNOWN>
<TEXT>&#2;
<TITLE>REAGAN SENDS CONGRESS FEDERAL CREDIT REFORM BILL</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>The White House said President
Reagan would send to Congress today proposed legislation
providing for sweeping reform of the budgetary treatment of the
federal credit program.
    Called the Federal Credit Reform Act of 1987, the proposal
consists of a package of legislation and accompanying budget
amendments, said White House spokesman Marlin Fitzwater.
    He noted that in fiscal 1986 the federal government
disbursed 42 billion dlrs in new direct loans and guaranteed
loans totalling 159 billion dlrs.
    Under the reform bill, Fitzwater said the subsidy element
in direct loan and guaranteed loan programs would be
established and Congress would appropriate the amount of the
subsidy to the lending agency.
    "This is kind of a truth in spending reform package,"
Fitzwater said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9182" NEWID="4269">
<DATE>12-MAR-1987 11:09:17.07</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0345&#31;reute
d f BC-FOSTER-WHEELER-&lt;FWC>   03-12 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>FOSTER WHEELER &lt;FWC> UNIT SIGNS 90 MLN DLR PACT</TITLE>
<DATELINE>    LIVINGSTON, N.J., March 12 - </DATELINE><BODY>Foster Wheeler Corp said its
energy subsidiary signed a 90 mln dlr contract to design,
engineer and construct two 550 mega-watt steam generators to be
installed at the new Taichung Fossil Power project of Taiwan
Power Co, Taiwan.
    The contract also includes an option for two additional 550
mega-watt units for the same site, the company said.
    Taiwan Power Co's long range plans call for the
installation of a total of eight units at the station.
    Commercial operation of the two units is scheduled for June
and December 1991, respectively, the company added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9183" NEWID="4270">
<DATE>12-MAR-1987 11:10:37.71</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f0350&#31;reute
r f BC-FIELDCREST-&lt;FLD>-SELL   03-12 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>FIELDCREST &lt;FLD> SELLS CONVERTIBLE DEBENTURES</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Fieldcrest Cannon Inc is raising 110
mln dlrs through an offering of convertible subordinated
debentures due 2012 with a six pct coupon and par pricing, said
sole underwriter Kidder, Peabody and Co Inc.
    The debentures are convertible into the company's common
stock at 44.25 dlrs per share, representing a premium of 26.43
pct over the stock price when terms on the debt were set.
    Non-callable for two years, the debt is rated Ba-2 by
Moody's Investors Service Inc and BB-minus by Standard and
Poor's Corp. The issue was increased from an initial offering
of 100 mln dlrs because of investor demand.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9184" NEWID="4271">
<DATE>12-MAR-1987 11:10:50.56</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0351&#31;reute
b f BC-NORSK-HYDRO-ISSUES-10   03-12 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>NORSK HYDRO ISSUES 100 MLN DLR BOND</TITLE>
<DATELINE>    London, March 12 - </DATELINE><BODY>Norsk Hydro is issuing a 100 mln dlr
bond due April 9, 1997 carrying a coupon of 8-1/4 pct and
priced at 101-5/8, said Swiss Bank Corp International as lead
manager.
    The issue is non-callable and will be listed on the London
Stock Exchange. Payment date is April 9.
    Fees for the issue include a 1-1/4 pct selling concession
and a 3/4 pct combined management and underwriting fee.
    The securities are available in denominations of 5,000 dlrs
each. They are priced to yield 97 basis points over 10-year
U.S. Treasury notes.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9185" NEWID="4272">
<DATE>12-MAR-1987 11:10:57.84</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f0352&#31;reute
r f BC-PHILADELPHIA-ELECTRIC   03-12 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILADELPHIA ELECTRIC &lt;PE> TO SELL BONDS</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Philadelphia Electric Co said it filed
with the Securities and Exchange Commission a shelf
registration statement covering up to 250 mln dlrs of first and
refunding mortgage bonds.
    Proceeds will be used for the company's construction
program and to reduce short-term debt that may be incurred from
time to time for interim financing of such building,
Philadelphia Electric said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9186" NEWID="4273">
<DATE>12-MAR-1987 11:11:23.38</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;f0356&#31;reute
d f BC-TENNEY-ENGINEERING-IN   03-12 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>TENNEY ENGINEERING INC &lt;TNY> 4TH QTR NET</TITLE>
<DATELINE>    UNION, N.J., March 12 -
    </DATELINE><BODY>Shr two cts vs nine cts
    Net 86,469 vs 325,937
    Revs 5,119,637 vs 6,390,995
    12 mths
    Shr 10 cts vs 33 cts
    Net 354,820 vs 1,148,476
    Revs 21.2 mln vs 23.2 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9187" NEWID="4274">
<DATE>12-MAR-1987 11:11:32.89</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0357&#31;reute
h f BC-MEDIZONE-INTERNATIONA   03-12 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>MEDIZONE INTERNATIONAL INC AQUIRES PATENT</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>&lt;Medizone International Inc> said it
acquired a patent that covers procedures for the use of the
Medizone Therapy in deactivating certain viruses commonly
associated with AIDS, hepatitis and herpes.
    The company said the patent covers procedures for the
deactivation of the viruses in human and animal blood, and the
treatment of stored blood prior to transfusion.
    Medizone said the acquisition is seen as a significant step
to enhance the company's proprietory position.
    The company said the patent was acquired from an unnamed
company involved in medical research and development for one
million shares of its common stock.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9188" NEWID="4275">
<DATE>12-MAR-1987 11:11:40.83</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;f0358&#31;reute
b f BC-/-FED-NOT-EXPECTED-TO   03-12 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>FED NOT EXPECTED TO ADD RESERVES</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>The Federal Reserve is not expected to
intervene in the government securities market today, several
economists said.
    They said the Fed does not have a much of an adding need
this week and may wait until tomorrow or Monday before
supplying reserves.
    But a few economists said there was an outside chance that
the Fed may inject reserves indirectly via a small round of
customer repurchase agreements.
    Federal funds hovered at 6-1/8 pct this morning after
averaging 6.32 pct yesterday.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9189" NEWID="4276">
<DATE>12-MAR-1987 11:11:45.55</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;f0359&#31;reute
h f BC-MODERN-CONTROLS-INC-&lt;   03-12 0040</UNKNOWN>
<TEXT>&#2;
<TITLE>MODERN CONTROLS INC &lt;MOCON> 4TH QTR NET</TITLE>
<DATELINE>    MINNEAPOLIS, March 12 -
    </DATELINE><BODY>Shr 10 cts vs 11 cts
    Net 226,000 vs 236,000
    Sales 1.3 mln vs 1.5 mln
    Year
    Shr 38 cts vs 45 cts
    Net 819,000 vs 1,001,000
    Sales 5.8 mln vs 6.4 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9190" NEWID="4277">
<DATE>12-MAR-1987 11:15:00.06</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;f0374&#31;reute
u f BC-INSTINET-&lt;INET>-SETS   03-12 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>INSTINET &lt;INET> SETS MEETING ON MERGER</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Instinet Corp said its board has
scheduled a special shareholders' meeting for May 21 to vote on
its proposed merger into Reuters Holdings PLC &lt;RTRSY>.
    It said shareholders of record as of April 10 will be
eligible to vote at the meeting.
    Instinet said the meeting date is subject to adjustment,
based on the length of time needed for the U.S. Securities and
Exchange Commission to complete its review of the filing of
merger proxy materials, which Instinet expects to make before
the end of March.
    Instinet said the filing of the preliminary merger proxy
materials is tied to the finalization of audited financial
statements of Instinet and Reuters for 1986.
    Under a merger agreement entered into in November, Reuters
tendered for up to 5.10 mln Instinet common shares, or about 45
pct of those not already owned by Reuters. As a result of the
tender, Reuters now owns about 49 pct of Instinet shares.
    In the merger, holders of remaining Instinet shares will
receive 8.50 dlrs of Reuters American Depositary Shares for
each Instinet share.
    The ADS's will be valued at the average of their closing
prices in the 10 trading days before the effective date of the
merger.
    Instinet said it expects the merger to become effective as
soon as possible after shareholder approval at the special
meeting.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9191" NEWID="4278">
<DATE>12-MAR-1987 11:15:40.77</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f0377&#31;reute
b f BC-EC-grants-5,000-tonne   03-12 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>EC GRANTS 5,000 TONNES SOFT WHEAT EXPORT  LICENCES AT 134.75 ECU REBATE - BRUSSELS TRADE
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9192" NEWID="4279">
<DATE>12-MAR-1987 11:15:50.35</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0378&#31;reute
b f BC-******DAYTON-HUDSON-C   03-12 0010</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>DAYTON HUDSON CORP 4TH QTR OPER SHR 1.24 DLRS VS 1.55 DLRS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9193" NEWID="4280">
<DATE>12-MAR-1987 11:18:08.44</DATE>
<TOPICS><D>grain</D><D>barley</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f0392&#31;reute
b f BC-EC-GRANTS-LICENCES-FO   03-12 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>EC GRANTS LICENCES FOR 35,000 TONNES  BARLEY AT 137.35 ECUS REBATE - BRUSSELS TRADE
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9194" NEWID="4281">
<DATE>12-MAR-1987 11:18:44.85</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0399&#31;reute
b f BC-******UNION-PACIFIC-S   03-12 0017</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>UNION PACIFIC SAYS WILL SIGN PACT IN CARACAS ON MARCH 17 FOR SALE OF HALF ITS CORPUS CHRISTI REFINERY
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9195" NEWID="4282">
<DATE>12-MAR-1987 11:19:39.66</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0402&#31;reute
b f BC-******CYACQ-OFFERS-TO   03-12 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CYACQ OFFERS TO RAISE CYCLOPS BUYOUT TO 92.50 DLRS/SHR FROM 80 DLRS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9196" NEWID="4283">
<DATE>12-MAR-1987 11:20:03.00</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0405&#31;reute
u f BC-SWISS-REGIONAL-BANKS   03-12 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>SWISS REGIONAL BANKS SET TWO BONDS</TITLE>
<DATELINE>    ZURICH, March 12 - </DATELINE><BODY>The Issuing Centre of the Swiss Regional
Banks said it is launching two bond issues of 90 mln and 58 mln
Swiss francs.
    The 90 mln franc 1987/95 issue has a coupon of 4-1/2 pct
and issue price of 99.75 pct, while the 58 mln franc 1987/97
issue has a coupon of 4-5/8 pct and issue price of 99.75 pct.
    Subscriptions close March 25. The funds will be partly used
to repay a 45 mln franc bond maturing on April 15.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9197" NEWID="4284">
<DATE>12-MAR-1987 11:20:19.11</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0406&#31;reute
b f BC-******WASTE-MANAGEMEN   03-12 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>WASTE MANAGEMENT SAYS WAITING PERIOD ENDS ON ITS CHEMLAWN BID 
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9198" NEWID="4285">
<DATE>12-MAR-1987 11:21:32.11</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;f0409&#31;reute
s f BC-PETRIE-STORES-CORP-&lt;P   03-12 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>PETRIE STORES CORP &lt;PST> REGULAR PAYOUT</TITLE>
<DATELINE>    SECAUCUS, N.J., March 12 -
    </DATELINE><BODY>Qtrly div 17.5 cts vs 17.5 cts prior
    Pay April 20
    Record April 2
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9199" NEWID="4286">
<DATE>12-MAR-1987 11:24:43.84</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0418&#31;reute
r f BC-UNILEVER-FRAGRANCE-UN   03-12 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>UNILEVER FRAGRANCE UNIT HAS LOWER 1986 EARNINGS</TITLE>
<DATELINE>    NAARDEN, Netherlands, March 12 - </DATELINE><BODY>The flavours and
fragrances firm &lt;Naarden International N.V.>, acquired by
Anglo-Dutch food and detergents group Unilever Plc N.V. &lt;UN.AS>
last year, said net profits for 1986 fell 11.4 pct to 19.5 mln
guilders.
    Naarden said earnings were hit by the fall in the value of
both the dollar and sterling, noting the figure was in line
with prior expectations. Net profit was 22.0 mln guilders in
1985.
    Earnings per share fell to 4.64 guilders from 5.48 in 1985
on turnover of 627.8 mln, down from 662.6 mln. Naarden set a
cash dividend of 1.80 guilders, unchanged from last year but
without last year's share option for payment.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9200" NEWID="4287">
<DATE>12-MAR-1987 11:26:10.77</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0420&#31;reute
r f BC-HOUSE-SUBCOMMITTEE-PO   03-12 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>HOUSE SUBCOMMITTEE POSTPONES FSLIC ACTION</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>The financial institutions
subcommittee of the House Banking Committee postponed
indefinitely a session to draft legislation on the Federal
Savings and Loan Insurance Corp, FSLIC.
    The mark-up session was postponed after Democrats on the
subcommittee failed in a caucus to agree on several issues,
including the size of a financial rescue package for FSLIC, a
committee staff member said.
    On Tuesday, the Senate Banking Committee passed a bill to
recapitalize FSLIC at 7.5 billion dlrs over two years.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9201" NEWID="4288">
<DATE>12-MAR-1987 11:28:34.14</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;f0430&#31;reute
u f BC-EAGLE-PITCHER-INDUSTR   03-12 0032</UNKNOWN>
<TEXT>&#2;
<TITLE>EAGLE-PITCHER INDUSTRIES INC &lt;EPI> 1ST QTR NET</TITLE>
<DATELINE>    CINCINNATI, March 12 -
    </DATELINE><BODY>Shr 81 cts vs 81 cts
    Net 8,750,024 vs 7,772,932
    Revs 157.6 mln vs 162.4 mln
    Avg shrs 10.8 mln vs 9.6 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9202" NEWID="4289">
<DATE>12-MAR-1987 11:33:29.55</DATE>
<TOPICS><D>grain</D><D>corn</D></TOPICS>
<PLACES><D>portugal</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0448&#31;reute
u f BC-PORTUGUESE-GRAIN-AGEN   03-12 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>PORTUGAL GRAIN AGENCY BARRED FROM IMPORT TENDERS</TITLE>
<AUTHOR>    By Pascal Fletcher, Reuters</AUTHOR>
<DATELINE>    LISBON, March 12 - </DATELINE><BODY>A Portuguese court has made a
preliminary ruling that the state grain buying agency EPAC
should not be allowed to take part in public import tenders
open to private importers, grain traders and officials said.
    Under the terms of Portugal's January 1986 accession to the
European Community, EC, a grain import monopoly held by EPAC
(Empresa Publica de Abastecimento de Cereais) is being reduced
by 20 pct annually until all imports are liberalised in 1990.
    Private traders protested last year that EPAC was being
permitted to take part in tenders open to them for the first
liberalised 20 pct share of the country's annual import needs.
The grain and oilseed importers association ACICO opened legal
proceedings to stop EPAC participating in the public tenders.
    Miguel Ascensao of ACICO told Reuters that Lisbon's civil
court, in a preliminary ruling, had decided EPAC should not be
allowed to take part in tenders open to private traders.
    Trade sources said the ruling, though effective
immediately, was subject to appeal and would have to be
confirmed in further proceedings.
    A member of the government Cereals Market Commission said
that, as a result of the court's decision, the Commission would
not be able to accept offers from EPAC in a public tender being
held today for the import of 80,000 tonnes of corn.
    Ascensao said the court ruling stated that EPAC's
participation in the public tenders violated the clauses of
Portugal's EC accession treaty dealing with the gradual
dismantling of the state agency's import monopoly.
    It also said the participation of EPAC, which still
controls the national grain storage and distribution network,
was unfair competition to the private traders.
    Traders said they believed the EC's Executive Commission
was unlikely to get involved in the dispute, preferring to
leave the case to be resolved as an internal Portuguese issue.
    "They (the EC Commission) will be keeping a low profile," one
trader said.
    ACICO says it is ready to take its case to Brussels if
necessary.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9208" NEWID="4290">
<DATE>12-MAR-1987 11:36:21.85</DATE>
<TOPICS><D>retail</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0465&#31;reute
u f BC-/U.S.-RETAIL-SALES-RI   03-12 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. RETAIL SALES RISE MASKS WEAK TREND - ANALYSTS</TITLE>
<AUTHOR>    By Kathleen Hays, Reuters</AUTHOR>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>U.S. retail sales rose sharply in
February but many economists said the underlying consumer
spending trend remains weak.
    February retail sales jumped 4.1 pct, more than the 2.5-3.0
pct rise the financial markets had anticipated. But January's
sales were revised down to a 7.4 pct drop, from a previously
reported 5.8 pct decline.
    "The trend is toward continued spending but certainly at a
much more sluggish pace," said Don Maude of Midland Montagu
Capital Markets Inc.
    Maude averaged out the wide swings in the retail sales data
over past four months to show that the pace of consumer
spending is slowing.
    Combining the latest data with a 0.6 pct drop in November
and a 4.6 pct gain in December, the average retail sales gain
over the four months was 0.2 pct, he said, compared to to a 0.4
pct rise for year-over-year sales through February.
    "You can see a pattern developing," Maude said. "I wouldn't
be surprised to see a fall-off in March, especially since sales
probably won't be boosted by auto sales as they were in
February."
    Despite the weak underlying trend, economists were
impressed by a robust 1.5 pct gain in total sales excluding
autos in February. This compared to a revised 0.4 pct decline
in January, previously reported as a 0.1 pct decline.
    "The increase in non-auto sales was broadbased, with gains
in durable goods as well as non-durables," noted Ward McCarthy
of Merrill Lynch Capital Markets Inc. "It was a pretty healthy
report."
    He noted that building materials rose 1.8 pct in February
after falling 1.7 pct in January. General merchandise store
sales gained 1.4 pct after a 1.6 pct rise in January.
    "There are signs of life in the economy," McCarthy said.
"But it's jumping to conclusions to extrapolate this report
into the future." 
    A 0.7 pct increase in disposable personal income in January
which may be linked to the new tax laws probably helped boost
spending in February, he said.
    "A lot of people may be inadvertently under-withholding
taxes from their paychecks," he said. "When people in this
country get an increase in disposable income, the inclination
is to go out and spend it," he said.
    Economists said tomorrow's release of U.S. auto sales for
the first 10 days of March will be an important indicator of
how much this sector will add to first quarter spending.
     Auto sales accounted for the lion's share of total
February sales, rising 14.4 pct. This followed a 27.7 pct drop
in January, previously reported as a 22.4 pct fall, due largely
to the expiration of the sales tax deduction under new tax laws
January 1, the Commerce Department noted.
    Some economists argued that the because the gain in total
sales excluding autos also followed a decline in January, the
strength in the February report is less than impressive.
    "There is strength in the February data, but that's because
they were compared to low sales levels in January," said said
Beth Reiners of Dean Witter Reynolds Inc. "We don't see it as a
precursor of continued strength."
    Durable goods sales rose 8.8 pct in February, after falling
17.7 pct in January. February non-durable goods sales gained
1.3 pct, after declining 0.2 pct in January.
    Gasoline service station sales rose two pct in February,
following a 1.9 pct gain in January, but economists said higher
oil prices rather than an increased volume of gas sales
probably accounted for these gains.
    Reiners also emphasized that the trend in consumer spending
is weakening. Total retail sales on average were 123 billion
dlrs in the fourth quarter of 1986, she said. In January, they
fell to a seasonally adjusted 117.52 bilion dlrs, and in
February rose to 122.29 billion dlrs.
    "On average, it looks like they'll total 120 to 121 mln
dlrs in the first quartrer," she said. "We don't look at this
as indication that the economy is barrelling along."
    "The number is not really that problematic for those of us
who are constructive on the bond market," agreed Elliot Platt
of Donaldsen Lufkin and Jenrette Securities Corp.
    Platt does not foresee potential for tighter monetary
policy on the basis of the latest retail sales report.
    "The Fed is on hold now because the data have been so
confusing," he said.
    "Before the 337,000 gain in February non-farm payroll
employment, I would have looked for a discount rate cut in
March," he said. "But now Fed officials will have to wait for
the first quarter real U.S. gross national product data in
April to sort things out."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9203" NEWID="4291">
<DATE>12-MAR-1987 11:37:11.73</DATE>
<TOPICS><D>earn</D><D>copper</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0471&#31;reute
r f BC-MAGMA-&lt;MGCPV>-SEES-PR   03-12 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>MAGMA &lt;MGCPV> SEES PROFITABLE COPPER PRODUCTION</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Newmont Mining Corp &lt;NEM> said Magma
Copper Co anticipates being able to produce copper at a profit
by 1991, assuming copper prices remain at their current levels.
    In an information statement distributed to Newmont
shareholders explaining the dividend of Magma shares declared
Tuesday, Newmont said Magma had a net loss of 46.6 mln dlrs in
1986, adding this was equal to 1.22 cts a share.
    Newmont holders will receive 80 pct of Magma's stock as a
dividend of one share for each of the 30,458,000 Newmont shares
now held. Newmont will retain 15 pct of the stock.
    The 1986 net loss was on a pro forma basis, Newmont said.
On a historical basis, it added, Magma had a 1986 net loss of
58.1 mln dlrs on a loss from operations of 42.3 mln dlrs.
    On Dec 31, 1986, Newmont said, Magma had about 85.0 mln
dlrs of net operating loss carryforwards expiring in 1999-2000
and about 4.0 mln dlrs of investment tax credit carryover
expiring in 2000-2001.
    Newmont said Magma has pre-tax losses of 290 mln dlrs
during the 1981 through 1985 period, noting the five major U.S.
primary copper producers reported aggregate pre-tax losses of
1.9 billion dlrs during five year period.
    Newmont said Magma had total sales of 347.3 mln dlrs last
year, including copper sales of 293.4 mln dlrs.
    It said the copper sales value was up from 267.6 mln dlrs
in 1985 reflecting a 10.1 pct increase in quantity sold to
212,000 short tons and a 0.4 pct decrease in price.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9204" NEWID="4292">
<DATE>12-MAR-1987 11:37:26.94</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;f0473&#31;reute
r f BC-RPT-INSITUFORM-OF-NOR   03-12 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>RPT-INSITUFORM OF NORTH AMERICA INC &lt;INSUA> NET</TITLE>
<DATELINE>    MEMPHIS, Tenn., March 12 - </DATELINE><BODY>4th qtr
    Shr nine cts vs four cts
    Net 658,159 vs 299,930
    Revs 3,770,341 vs 2,614,224
    Avg shrs 7,382,802 vs 6,747,442
    Year
    Oper shr 33 cts vs 18 cts
    Oper net 2,287,179 vs 1,045,799
    Revs 13.1 mln vs 8,577,853
    Avg shrs 6,874,505 vs 5,951,612
    NOTE: 1985 year net excludes 131,000 dlr tax credit.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9205" NEWID="4293">
<DATE>12-MAR-1987 11:41:31.73</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f0481&#31;reute
f f BC-******FED-SAYS-IT-SET   03-12 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FED SAYS IT SETS TWO BILLION DLRS OF CUSTOMER REPURCHASE AGREEMENTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9206" NEWID="4294">
<DATE>12-MAR-1987 11:41:49.99</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</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;f0482&#31;reute
u f BC-/SEC-REMOVES-OBSTACLE   03-12 0123</UNKNOWN>
<TEXT>&#2;
<TITLE>SEC REMOVES OBSTACLE TO FOREIGN FUTURES TRADING</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>The Securities and Exchange
Commission removed a key regulatory obstacle to trading futures
on designated foreign debt securities on U.S. exchanges.
    The move would allow the Chicago Board of Trade, CBT, to
apply to the Commodity Futures Trading Commission, CFTC, for
approval of a futures contract on yen bonds.
    The CBT has said it may apply for approval of the yen bond
futures contract, a CFTC spokesman said.
    The SEC's action, which was approved by a 4-0 vote,
specifically removes a regulation against trading futures on
designated foreign government debt securities on contract
markets that are not located in the country that issued those
securities.
    Futures on the government debt securities of Japan, Canada
and Great Britain can already be marketed in the United States
under a designated exemption issued by the SEC.
    But the new move would permit U.S. exchanges to apply to
the CFTC for approval of establishing futures contracts on
those securities, SEC officials said.
    The new SEC move would also allow those foreign government
debt securities to be marketed in the United States by
countries other than those that issued the securities, the
officials said.
    Since the foreign government securities underlying the
futures cannot be traded in the United States unless they are
registered with the SEC, settlement and delivery of the futures
would often take place in the foreign country, the SEC
officials said.
    The SEC is also considering expanding futures trading of
additional countries' government securities to be marketed and
traded in the United States, the officials said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9207" NEWID="4295">
<DATE>12-MAR-1987 11:42:14.37</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;f0484&#31;reute
u f BC-NL-INDUSTRIES-INC-&lt;NL   03-12 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>NL INDUSTRIES INC &lt;NL> CHAIRMAN AND CEO QUITS</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>NL Industries Inc said its chairman
and chief executive officer Theodore Rogers resigned this
morning.
    Rogers, who also resigned his posts as chairman and ceo of
the company's subsidiary, NL Chemicals, was immediately
replaced by Harold Simmons, the company said.
    Simmons is president and chief executive officer of &lt;Valhi
Inc>, which owns approximately 51 pct of NL Industries,
according to the company.
    Fred Montanari will remain executive vice president of NL
Industries and president of NL Chemicals, the company said.
    Rogers was the company chief executive officer since 1983
and its chairman since 1984, according to the company. He
retained both posts after a takeover in 1986 led by Simmons, th
company said.
    Rogers will remain as a consultant in certain company
matters, NL said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9209" NEWID="4296">
<DATE>12-MAR-1987 11:44:14.09</DATE>
<TOPICS><D>grain</D><D>wheat</D><D>barley</D><D>corn</D></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0496&#31;reute
b f BC-EC-COMMISSION-GRANTS   03-12 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>EC COMMISSION GRANTS EXPORT LICENCES - TRADE</TITLE>
<DATELINE>    BRUSSELS, March 12 - </DATELINE><BODY>The European Community's, EC, cereal
management committee granted export licences for 5,000 tonnes
of quality soft bread-making wheat at a maximum export rebate
of 134.75 European currency units, Ecus, per tonne, traders
said.
    The committee also granted export certificates of 35,000
tonnes of barley at 137.35 Ecus per tonne, but rejected all
bids for the export of soft feed wheat, they said.
    Certificates were also granted for the export of 15,000
tonnes of maize at a maximum rebate of 132.90 Ecus per tonne,
the traders said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9210" NEWID="4297">
<DATE>12-MAR-1987 11:44:39.74</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;f0499&#31;reute
u f BC-GERMAN-BANKS-SAY-UNCE   03-12 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN BANKS SAY UNCERTAINTY ABOUT ECONOMY GROWING</TITLE>
<DATELINE>    BONN, March 12 - </DATELINE><BODY>Uncertainty is growing about the prospects
for the economy as orders for industry fall and companies scale
back investment plans, the German Savings Banks and Giro
Association said.
    Exporters expect foreign demand to remain weak, while
industry is less optimistic than it was, the association said
in a report.
    However, last month's agreement among the six leading
western industrialized countries to keep currencies around
present levels was expected to be a stabilizing influence for
exporters, it added.
    The banking association said the possibility of using
monetary policy to stimulate the economy should not be
overestimated.
    Another small drop in already low interest rates could not
be expected to cause any significant rise in purchases of
consumer or capital goods, it said.
    The Bundesbank's half-point cuts in the discount and
Lombard rates in January have largely exhausted the scope for
any further monetary moves, the association added.
    On Tuesday the Federal Statistics Office said gross
national product stagnated in real, seasonally and calendar
adjusted terms in the fourth quarter of 1986 compared with the
third quarter.
    The Economics Ministry, commenting on the figures, said GNP
in the 1987 first quarter was also expected to be relatively
weak.
    Bank economists have forecast the economy will either
stagnate or contract slightly in the first quarter. Official
first-quarter figures are due in early June.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9211" NEWID="4298">
<DATE>12-MAR-1987 11:45:22.18</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;f0501&#31;reute
b f BC-/-FED-ADDS-RESERVES-V   03-12 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>FED ADDS RESERVES VIA CUSTOMER REPURCHASES</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>The Federal Reserve entered the U.S.
Government securities market to arrange two billion dlrs of
customer repurchase agreements, a spokeswoman said.
    Dealers said Federal funds were trading at 6-1/8 pct when
the Fed began its temporary and indirect supply of reserves to
the banking system.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9212" NEWID="4299">
<DATE>12-MAR-1987 11:49:53.86</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0517&#31;reute
r f BC-KODAK-&lt;EK>-REAFFIRMS   03-12 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>KODAK &lt;EK> REAFFIRMS COMMITMENT TO PHOTOGRAPHY</TITLE>
<DATELINE>    ROCHESTER, N.Y., March 12 - </DATELINE><BODY>Eastman Kodak Co said it will
build a major facility here for the production of color film,
reaffirming its commitment to its core photographic business.
    Kodak said the plant will cost more than 200 mln dlrs to
build and will be staffed by about 250 people who will be
transferred from existing manufacturing operations. It said the
plant should be operational by the fall of 1990.
    Kodak said it does not intend to shut down any current
capacity as anticipated growth in demand for photography
products will "offset the additional capacity."
    The company also said the facility will position it "well
into the 21st century," in the photography business. It said
the plant will initially produce color films for the
professional and motion picture industry.
    Kodak also said it will maintain its Rochester site as the
center of its photographic technology operations. "We have been
encourgaged that in recent years this community and New York
state have been working hard to improve the business climate
for manufucturing," said William F. Fowble, Kodak's sernior
vice-presient and general manager of manufacturing. "We assume
thesse efforts will continue."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9213" NEWID="4300">
<DATE>12-MAR-1987 11:50:04.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0519&#31;reute
d f BC-COLOROCS-&lt;CLRX>-SIGNS   03-12 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>COLOROCS &lt;CLRX> SIGNS PACT WITH SHARP</TITLE>
<DATELINE>    NORCROSS, Ga., March 12 - </DATELINE><BODY>Colorocs Corp said it signed a
manufacturing agreement with Sharp Corp &lt;SHRP> of Japan for
Sharp to build Colorocs' full-color copier.
    No other details of the agreement were disclosed, but the
company said more details would follow shortly.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9214" NEWID="4301">
<DATE>12-MAR-1987 11:51:22.76</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;f0522&#31;reute
r f BC-WAITING-PERIOD-ENDS-O   03-12 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>WAITING PERIOD ENDS ON WASTE MANAGEMENT&lt;WMX> BID</TITLE>
<DATELINE>    OAK BROOK, Ill., March 12 - </DATELINE><BODY>Waste Management Inc said it
received notice of early termination of the Hart-Scott-Rodino
waiting period for its 270 mln dlr takeover bid for Chemlawn
Corp &lt;CHEM>.
    The waiting period was terminated March 11, Waste
Management said.
    Chemlawn has rejected Waste Management's 27 dlrs a share
bid. It has said it was talking with other parties about
selling its business.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9215" NEWID="4302">
<DATE>12-MAR-1987 11:53:23.29</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;f0530&#31;reute
u f BC-ASA-LTD-&lt;ASA>-1ST-QTR   03-12 0030</UNKNOWN>
<TEXT>&#2;
<TITLE>ASA LTD &lt;ASA> 1ST QTR FEB 28 NET</TITLE>
<DATELINE>    CHATHAM, N.J., March 12 -
    </DATELINE><BODY>Shr 1.42 dlrs vs 1.61 dlrs
    Net 13.6 mln vs 15.5 mln
    NOTE: Net asset value per share 77.72 dlrs vs 54.35 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9216" NEWID="4303">
<DATE>12-MAR-1987 11:57:31.53</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;f0539&#31;reute
u f BC-INVESTORS-TO-RAISE-CY   03-12 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>INVESTORS TO RAISE CYCLOPS &lt;CYL> TENDER PRICE</TITLE>
<DATELINE>    DAYTON, Ohio, March 12 - </DATELINE><BODY>Cyacq Corp, an investor group
bidding for Cyclops Corp, said it would raise its outstanding
tender offer price for Cyclops common to 92.50 dlrs a share
from 80 dlrs, if certain conditions were met.
    The increased offer would exceed the 90.25 dlrs a share
price offered by Dixons Group PLC in a tender offer for Cyclops
that is part of a definitive agreement to acquire the
Pittsburgh-based maker of carbon tool and specialty steel
products.
    Cyacq includes Audio/Video Affiliates Inc and Citicorp
Capital Investors Ltd and other investors.
    Cyclops has about 4.1 mln shares outstanding.
    For the tender price to be raised, Cyclops must provide
Cyacq with all non-public information provided to Dixons Group
and Cyacq must be satisfied with financial projections made in
offering material by Dixons based on the information, Cyacq
said.
    Additionally, Dixon Group's rights to buy Cyclops common
and its rights to fees or expenses if the Dixon-Cyclop merger
agreement is broken must be rescinded, Cyacq said.
    Cyacq said financial projections it developed for Cyclops
were materially lower than the financial projections provided
by Cyclops to Dixons Group.
    A Cyclops spokeswoman said the company had no details of
the new Cyacq proposal and could not comment. "We have nothing
in hand," she said.
    In addition to making specialty metal products, Cyclops
also operates about 115 specialty stores that sell consumer
electronics products. The stores are located in 17 states
concentrated in the Northeast, Northwest and Southwest.
    Cyclops employs about 8,900 people in Pennsylvania, Ohio
and other states. It also has interests in non-residential
construction.
    In 1986, Cyclops earned 21.3 mln dlrs or 5.26 dlrs a share
on sales of 1.5 billion dlrs, compared to 1985 earnings of 26.2
mln dlrs or 6.20 dlrs on sales of 1.4 billion, the spokeswoman
said.
    The agreement with Dixons Group calls for Cyclops's steel
and construction businesses to be sold to a unit of Alleghany
Corp &lt;Y> for about 110 mln dlrs once the merger is completed.
    A Cyacq spokesman said the new conditional tender price
would be all cash. He had no comment on whether Cyacq plans to
withdraw its current offer, which is scheduled to expire
midnight on March six.
    Dixon Group's offer extends to March 17.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9217" NEWID="4304">
<DATE>12-MAR-1987 11:57:49.06</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;f0540&#31;reute
u f BC-resending;thanx   03-12 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>DAYTON HUDSON CORP&lt;DH> 4TH QTR JAN 31 OPER NET</TITLE>
<DATELINE>    MINNEAPOLIS, March 12 -
    </DATELINE><BODY>Oper shr 1.24 dlrs vs 1.55 dlrs
    Oper net 120,800,000 vs 150,100,000
    Revs 3.12 billion vs 2.74 billion
    Year
    Oper shr 2.62 dlrs vs 2.89 dlrs
    Oper net 255,000,000 vs 280,500,000
    Revs 9.26 billion vs 8.26 billion
    NOTE: 1986 period ended February One
    NOTE: Results exclude earnings from discontinued operations
of 9.0 mln dlrs, or nine cts a share vs 3.2 mln dlrs, or three
cts a share in the quarter and 2.1 mln dlrs, or two cts a share
vs 3.1 mln dlrs, or three cts a share for the year
    1987 earnings exclude gain on sale of B. Dalton Bookseller
of 85.2 mln dlrs, or 88 cts a share in each period
    1987 earnings exclude extraordinary charge from purchase
and redemption of debt of 12.6 mln dlrs, or 13 cts a share in
the quarter and 32.3 mln dlrs, or 33 cts a share for the year
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9218" NEWID="4305">
<DATE>12-MAR-1987 11:58:27.66</DATE>
<TOPICS><D>veg-oil</D><D>palm-oil</D></TOPICS>
<PLACES><D>uk</D><D>india</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0542&#31;reute
u f BC-INDIA-BUYS-RBD-PALM-O   03-12 0049</UNKNOWN>
<TEXT>&#2;
<TITLE>INDIA BUYS RBD PALM OLEIN AT TENDER</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>The Indian State Trading Corp bought
one, or possibly two, 6,000 tonne cargoes of Malaysian refined
bleached deodorised palm olein at its vegetable oil import
tender today for Mar 15/Apr 15 shipment at 355 dlrs per tonne
cif, traders said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9219" NEWID="4306">
<DATE>12-MAR-1987 11:59:57.07</DATE>
<TOPICS><D>jobs</D></TOPICS>
<PLACES><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0551&#31;reute
r f BC-SPANISH-UNEMPLOYMENT   03-12 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>SPANISH UNEMPLOYMENT RISES IN FEBRUARY</TITLE>
<DATELINE>    MADRID, March 12 - </DATELINE><BODY>The number of Spanish registered
unemployed rose by 15,608 to 2.98 mln or 21.5 pct of the
workforce in January in the sixth consecutive monthly increase,
the Labour Ministry said.
    Registered unemployed totalled 2.81 mln or 21.1 pct of the
workforce in February 1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9220" NEWID="4307">
<DATE>12-MAR-1987 12:01:44.86</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;f0560&#31;reute
d f BC-VSE-CORP-&lt;VSEC>-4TH-Q   03-12 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>VSE CORP &lt;VSEC> 4TH QTR NET</TITLE>
<DATELINE>    ALEXANDRIA, Va., March 12 -
    </DATELINE><BODY>Shr 49 cts vs 39 cts
    Net 886,937 vs 892,323
    Revs 25.9 mln vs 23.7 mln
    Year
    Shr 1.78 dlr vs 1.34 dlr
    Net 3,254,301 vs 2,472,676
    Revs 100.6 mln vs 87.4 mln
    NOTE: 1986 4th qtr and year net includes income loss of
MetCap subsidiary of 14,881 dlrs and 311,848 dlrs or 17 cts per
share, respectively.
    1985 4th qtr and year net includes loss in MetCap unit of
108,598 dlrs and 298,412 dlrs or 16 cts per share,
respectively.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9221" NEWID="4308">
<DATE>12-MAR-1987 12:02:30.75</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0564&#31;reute
r f BC-AMERICAN-CENTURY-CORP   03-12 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN CENTURY CORP &lt;ACT> GETS INJUNCTION</TITLE>
<DATELINE>    SAN ANTONIO, March 12 - </DATELINE><BODY>American Century Corp said it was
granted an injunction against Merrill Lynch and certain
affiliates barring them from taking or selling any of the
collateral for a 12 mln dlr line of credit extended by Merrill.
    American said State District Judge Fred Biery granted the
injunction in connection with a suit filed by &lt;G.H.Stool>
against Merrill Lynch in November 1986.
    Under the order, Merrill Lynch is barred from taking or
selling the collateral, namely 32 pct of the outstanding
American Century shares plus real estate interests, for the
credit line extended to &lt;G.H. Stool>, American's chairman John
Kerr and Robert Feldman, a director with American.
    The company said the suit seeks punitive and actual
damanges from Merrill Lynch for fraud and refusing to honor
what it contends was a binding commitment to a extend and
increase the loan to provide the financing to acquire 100 pct
of the American Century shares.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9222" NEWID="4309">
<DATE>12-MAR-1987 12:04:14.49</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;f0577&#31;reute
r f BC-ANHEUSER-BUSCH-&lt;BUD>   03-12 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>ANHEUSER-BUSCH &lt;BUD> SELLS SINKING FUND DEBT</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Anheuser-Busch Cos is raising 150 mln
dlrs through an offering of sinking fund debentures due 2017
yielding 8.593 pct, said sole manager Dillon, Read and Co Inc.
    The debentures have an 8-1/2 pct coupon and were priced at
99 to yield 97 basis points over the off-the-run 9-1/4 pct
Treasury bonds of 2016.
    Non-refundable for 10 years, the issue is rated Aa-3 by
Moody's and AA-minus by S and P. A sinking fund starting in
1998 to retire five pct of the debentures a year can be upped
by 200 pct at the company's option, giving them an estimated
minimum life of 13.9 years and maximum of 20.5 years.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9223" NEWID="4310">
<DATE>12-MAR-1987 12:05:34.33</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;f0585&#31;reute
u f BC-SECURITY-PACIFIC-&lt;SPC   03-12 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>SECURITY PACIFIC &lt;SPC> BUYS ORBANCO &lt;ORBN></TITLE>
<DATELINE>    LOS ANGELES, March 12 - </DATELINE><BODY>Security Pacific Corp said it
completed its previously announced acquisition of Orbanco
Financial Services Corp after receiving federal approval of the
deal.
    Security Pacific said the Federal Reserve Board approved on
Wednesday its purchase of the Portland, Ore.-based bank holding
company and financial services concern.
    The purchase of Orbanco, for about 47 mln dlrs in cash and
common stock, will be effective in 30 days, a Security Pacific
spokeswoman said.
    Terms call for each share of Orbanco common stock to be
exchanged for about 14 dlrs of Security Pacific common stock,
plus 1.50 dlrs cash.
    Each share of Orbanco's 100-dlr par value preferred stock
will be exchanged for 100 dlrs cash, plus accrued dividends.
    Orbanco, with one billion dlrs in assests, is the holding
company for the Oregon Bank, Orbanco Real Estate Service Co,
American Data Service Inc and Orbanco Securities Corp.
    Security Pacific now has four major regional bank purchases
outside California completed or pending.
    Security Pacific bought The Arizona Bank, with assets of
four billion dlrs, in the fourth quarter of 1986.
    Pending approval currently is the purchase of Rainier
Bancorporation &lt;RBAN>, with assets of 9.2 billion dlrs. In
anticipation of legislative changes that take effect in 1989,
Security Pacific has also negotiated the future purchase of The
Nevada Bank, with assets of 615 mln dlrs.
    Security Pacific is the sixth largest U.S. bank holding
company, with assets of about 61.60 billion dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9224" NEWID="4311">
<DATE>12-MAR-1987 12:05:46.37</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F RM E
&#22;&#22;&#1;f0587&#31;reute
f f BC-******S/P-DOWNGRADES   03-12 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>S/P DOWNGRADES CANADA'S PROVINCE OF SASKATCHEWAN, AFFECTS 1.68 BILLION U.S. DLRS OF DEBT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9225" NEWID="4312">
<DATE>12-MAR-1987 12:06:30.11</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;f0591&#31;reute
r f BC-BUSINESSLAND-&lt;BUSL>-S   03-12 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>BUSINESSLAND &lt;BUSL> SELLS CONVERTIBLE DEBENTURES</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Businessland Inc is raising 50 mln
dlrs via an offering of convertible subordinated debentures due
2007 with a 5-1/2 pct coupon and par pricing, said lead manager
Shearson Lehman Brothers Inc.
    The debentures are convertible into the company's common
stock at 20/50 dlrs a share, representing a 25.19 pct premium
over the stock price when terms on the debt were set.
    Non-callable for two years, the debt is rated B-3 by
Moody's Investors Service Inc. The issue was increased from an
initial offering of 40 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9226" NEWID="4313">
<DATE>12-MAR-1987 12:09:06.55</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;f0611&#31;reute
h f BC-DRANETZ-TECHNOLOGIES   03-12 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>DRANETZ TECHNOLOGIES INC &lt;DRAN> YEAR DEC 31 NET</TITLE>
<DATELINE>    EDISON, N.J., March 12 - 
    </DATELINE><BODY>Shr 46 cts vs 77 cts
    Qtly div six cts vs six cts prior
    Net 2,198,469 vs 3,635,565
    Revs 23.1 mln vs 26.0 mln
    Note: 1986 net includes one-time charge of 249,000 dlrs or
five cts a share from discontinuation of Boat Sentry and
Lakontek products.
    Qtly div payable April 15 to shareholders of record March
24.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9227" NEWID="4314">
<DATE>12-MAR-1987 12:09:17.45</DATE>
<TOPICS><D>grain</D><D>rice</D></TOPICS>
<PLACES><D>usa</D><D>japan</D></PLACES>
<PEOPLE><D>lyng</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0612&#31;reute
u f BC-/U.S.-TO-ASK-FOR-SHAR   03-12 0126</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. TO ASK FOR SHARE OF JAPAN'S RICE MARKET</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>U.S. Agriculture Secretary Richard
Lyng said he will ask Japan to offer a share of its rice market
to U.S. exporters when he visits that country next month.
    In an interview with Reuters, Lyng also said the Reagan
administration will ask Tokyo to remove its quotas on U.S. beef
and citrus exports.
    Lyng, who plans to be in Japan April 14-27, said he will
not ask Tokyo to liberalize fully its rice market. "We will urge
that they consider sharing their rice market," he said.
    The USDA secretary would not say how big a share of the
Japanese rice market the U.S. would request. "We've got none of
it now. If we got one per cent of it, it would be a big
improvement," he said.
    Last year, the Reagan administration rejected a petition by
the U.S. rice industry seeking relief from Japanese import
restrictions.
    However, the U.S. said it would reexamine the issue if by
mid-1987 Japan did not roll back import barriers to U.S. rice
exports.
    Lyng said he would not be conducting formal negotiations
next month with Japan over their beef and citrus quotas, but
that his visit "may be a forerunner in a general way" to talks
prior to expiration of the bilateral agreement in March 1988.
    He said, however, that the U.S. "will ask for a definite
liberalization of those items (beef and citrus).... When you
translate 'liberalization' into Japanese, it means do away with
the quota."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9228" NEWID="4315">
<DATE>12-MAR-1987 12:11:08.35</DATE>
<TOPICS><D>acq</D><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;f0620&#31;reute
u f BC-/UNION-PACIFIC-&lt;UNP>   03-12 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>UNION PACIFIC &lt;UNP> TO SELL PART OF REFINERY</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Union Pacific Corp said it will sign a
pact in Caracas on March 17 with Petroleos De Venezuela, PDVSA,
to sell the state owned company half of its Corpus Christi,
Texas refinery owned by its Union Pacific's Champlin Petroleum
Co subsidiary.
    The sale will also include the related marketing and
distribution system for the refinery's products.
    A spokesman for the company said that a statement may be
issued later today giving details of the transaction.
    There was no immediate comment from PDVSA officials in New
York.
    The Corpus Christi refinery has a capacity of about 160,000
barrels per day, the Union Pacific spokesman said, and is a
largely upgraded facility but he would place no value on the
transaction.
    The additional acquisition of refinery and distribution
assets by PDVSA has been expected as Venezuela has been moving
aggressively to enhance its role in the oil industry from
producer to excpanding its presence in the downstream sector.
    Purchase of part of Champlin's operations also fits a
profile which PDVSA officials have said previously they looked
for in any acquisition.
    One PDVSA official said the company was looking for
independent oil companies with good refinery and distribution
network and a strong regional presence.
    The potential purchase of the interest in Champlin followed
its earlier acquisition of a part interest in Southland Corp's
&lt;SLC> Citgo Petroleum Corp subsidiary.
    In that agreement signed September 15, 1986, PDVSA paid
Southland 290 mln dlrs for half of Citgo's stock.
    The potetnital acquisition of half Champlin's Corpus
Christi plant will also give Venezuela an additional outlet for
its crude oil production while giving the refiner an assured
source of supply, trade sources said.
    In the earlier deal with Southland, PDVSA agredd to to
supply Citgo with at least 130,000 bpd of crude oil and other
feedstocks.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9229" NEWID="4316">
<DATE>12-MAR-1987 12:14:12.79</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM E
&#22;&#22;&#1;f0637&#31;reute
u f BC-S/P-DOWNGRADES-CANADA   03-12 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>S/P DOWNGRADES CANADA'S PROVINCE OF SASKATCHEWAN</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Standard and Poor's Corp said it
downgraded Canada's Province of Saskatchewan. The action
affects the equivalent of 1.68 billion U.S. dlrs of debt.
    S and P lowered the province's long-term debt to AA-minus
from AA.
    The rating agency said the action reflected a substantial
increase in Saskatchewan's budget deficit for fiscal 1987 and
prospects for greater tax-supported debt in the medium term.
    S and P pointed out that the outlook for future revenue
growth is constrained by general weakness in the province's
commodity-based economy because of low prices.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9230" NEWID="4317">
<DATE>12-MAR-1987 12:15:25.46</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0645&#31;reute
u f BC-NIAGARA-MOHAWK-&lt;NMK>   03-12 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>NIAGARA MOHAWK &lt;NMK> TO REPLACE NINE MILE VALVES</TITLE>
<DATELINE>    SYRACUSE, N.Y., March 12 - </DATELINE><BODY>Niagara Mohawk Power Co said the
existing ball-type main steam isolation valves installed at
Unit Two of the Nine Mile Nuclear Station will be replaced with
standard Y-pattern globe valves.
    This decision will delay start-up of the power plant for
about three to four months, resulting in a delay in commercial
operation of the plant to as late as the beginning of 1988, the
utility said. It previously had projected commercial operation
in September.
    The possibility of a delay to the first quarter 1988 was
raised by Rochester Gas and Electric Corp &lt;RGS> last week.
    Niagara Mohawk said the delay will add to the plant's cost
at the rate of about 60 mln dlrs per month.
    A spokesman said this includes a total of about 10 mln dlrs
for removing the old valves and buying and installing the new
ones.
    The utility said the total anticipated cost of the plant is
now about six billion dlrs, up from the 5.87 billion dlrs
projected previously.
    This has increased the minimum overall disallowances under
the settlement Nine Mile Two's owners reached with New York
state regulators to over 2.1 billion dlrs, it added.
    Niagara Mohawk has a 41 pct interest in Nine Mile Two,
making its share of the disallowance about 1.1 billion dlrs
before income tax effects.
    Long Island Lighting Co &lt;LIL> and New York State Electric
and Gas Corp &lt;NGE> each have an 18 pct interest in the plant
while Rochester Gas owns 14 pct and Central Hudson Gas and
Electric Corp &lt;CNH> has nine pct.
    The ball valves were manufactured by a Gulf and Western Inc
&lt;GW> subsidiary which is now owned by Crosby Valve and Gauge
Co, a subsidiary of Gearhart Industries Inc &lt;GOI>, the
spokesman said.
    The Niagara Mohawk spokesman said the Nine Mile Two owners
are looking into the possibility that the valve supplier might
have liability for the costs of the delays caused by the
valves.
    The utility said the replacement valves are manufactured by
Rockwell International Inc &lt;ROK>.
    The company said it spent considerable time testing and
modifying the ball valves which, until recently, "demonstrated
potential for both improvement in performance and in ease of
maintenance."
    "Since activities to date have not yet proven to be
completely successful and because of timing and resulting
additional cost of achieving the leak tightness standard is
uncertain, we have no choice but to replace them," Niagara
Mohawk said of the ball valves.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9231" NEWID="4318">
<DATE>12-MAR-1987 12:16:23.23</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;f0652&#31;reute
r f BC-LANDS-END-INC-&lt;LEYS>   03-12 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>LANDS END INC &lt;LEYS> YEAR JAN 31 NET</TITLE>
<DATELINE>    DODGEVILLE, Wis., March 12 -
    </DATELINE><BODY>Shr 1.46 dlrs vs 1.13 dlrs
    Net 14,650,000 vs 11,270,000
    Sales 265 mln vs 227.1 mln
    Avg shrs 10,020,000 vs 9,980,000
    Note: Earnings are pro forma, including the increase in
common shares that took place last October when the company
went public through an initial offering of 1.4 mln shares. Avg
shrs assume the shares sold to public and employees were
outstanding during the entire period.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9232" NEWID="4319">
<DATE>12-MAR-1987 12:16:28.94</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0653&#31;reute
d f BC-NEW-BEDFORD-SAVINGS-G   03-12 0045</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW BEDFORD SAVINGS GOES PUBLIC</TITLE>
<DATELINE>    NEW BEDFORD, Mass., March 12 - </DATELINE><BODY>&lt;New Bedford Institution for
Savings> said it completed its conversion to a stock form of
ownership from a mutual savings bank.
    In the conversion, it said it issued 9.4 mln shares at
14.375 dlrs each.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9233" NEWID="4320">
<DATE>12-MAR-1987 12:16:40.10</DATE>
<TOPICS></TOPICS>
<PLACES><D>hungary</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0654&#31;reute
u f BC-BUDAPEST-BANK-ISSUES   03-12 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>BUDAPEST BANK ISSUES BONDS TO EXPAND RESOURCES</TITLE>
<DATELINE>    BUDAPEST, March 12 - </DATELINE><BODY>Budapest Bank Rt has become the first
of the commercial banks operating since January to issue bonds
to expand its resources, the official Hungarian news agency MTI
said.
    The seven-year bonds totalling 500 mln forints may be taken
up by companies, cooperatives and enterprises, MTI said.
    The interest rate will always be 0.5 points above that
charged to commercial banks by the National Bank of Hungary for
loans exceeding one year. This year's rate will thus be 11 pct.
    The funds raised will be used to increase the bank's
investment loan offer for small and medium-sized companies.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9234" NEWID="4321">
<DATE>12-MAR-1987 12:16:52.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0656&#31;reute
d f BC-FIRST-PROVIDENT-&lt;FPGI   03-12 0035</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST PROVIDENT &lt;FPGIU> GETS CONTRACT</TITLE>
<DATELINE>    CHARLOTTE, N.C., March 12 - </DATELINE><BODY>First Provident Group Inc said
it received a contract for over nine mln dlrs for the
development of a 252-unit apartment community complex here.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9235" NEWID="4322">
<DATE>12-MAR-1987 12:17:14.63</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0657&#31;reute
d f BC-SAAB-SCANIA-WINS-15-M   03-12 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>SAAB-SCANIA WINS 15 MLN DLR BUS CONTRACT</TITLE>
<DATELINE>    ORANGE, Conn., March 12 - </DATELINE><BODY>&lt;Saab-Scania AB> of Sweden said
its Saab-Scania of America Inc unit was awarded a 15 mln dlr
contract to supply transit busses to the transport services
department of Honolulu, Hawaii.
    The company said it will supply 94 CN-112 busses under the
contract.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9236" NEWID="4323">
<DATE>12-MAR-1987 12:21:28.30</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;f0671&#31;reute
r f BC-BANCROFT-&lt;BCF>-SUES-Z   03-12 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>BANCROFT &lt;BCF> SUES ZICO</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Zico INvestment Holdings INc said that
Bancroft Convertible Fund Inc filed suit seeking to enjoin
Zico's 30 dlr-a-share tender offer for 500,000 Bancroft shares.
    In its complaint, Bancroft said the tender offer materials
and letters to shareholders are false and misleading and that
the tender offer violates the investment company act of 1940.
    Zico said the suit is totally without merit and vigorously
intends to contest it.
    A motion is scheduled to be heard on March 16.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9237" NEWID="4324">
<DATE>12-MAR-1987 12:23:10.18</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0679&#31;reute
r f BC-BULL-TO-GET-800-MLN-F   03-12 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>BULL TO GET 800 MLN FRANC CASH INFUSION</TITLE>
<DATELINE>    PARIS, March 12 - </DATELINE><BODY>France's state-owned computer group Cie
des Machines Bull &lt;BULP.PA> is to receive a government cash
infusion of about 800 mln francs in addition to an 800 mln bond
issue with share warrants planned for April, a Finance Ministry
spokeswoman said.
    The capital injection will be in two stages, the first this
year and the second at the start of 1988, she said.
    Earlier this month Bull reported a consolidated net 1986
profit of 271 mln francs compared with 110 mln in the previous
year. It also cited a fall in debt and increasing productivity.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9238" NEWID="4325">
<DATE>12-MAR-1987 12:23:38.01</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;f0683&#31;reute
r f BC-TRITON-ENERGY-&lt;OIL>-P   03-12 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>TRITON ENERGY &lt;OIL> PRESIDENT RESIGNS</TITLE>
<DATELINE>    DALLAS, March 12 - </DATELINE><BODY>Triton Energy Corp said president Thomas
Goff resigned.
    The company gave no reason for the resignation.
    It said chairman and chief executive officer William Lee
will assume the role of president until a replacement has been
found.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9239" NEWID="4326">
<DATE>12-MAR-1987 12:25:38.54</DATE>
<TOPICS></TOPICS>
<PLACES><D>sweden</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0689&#31;reute
r f BC-SWEDISH-GOVERNMENT-EA   03-12 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>SWEDISH GOVERNMENT EASES PRICES FREEZE CONDITIONS</TITLE>
<DATELINE>    STOCKHOLM, March 12 - </DATELINE><BODY>The Finance Ministry said it will
allow companies to claim exemption from a wage freeze imposed
in January because of exchange rate fluctuations .
    The Price and Cartel Board, empowered by the government to
oversee the price freeze, will allow importers to charge
consumers the extra required if exchange rates changed, the
ministry said in a statement.
    The board had granted very few exceptions from the freeze
and will continue to apply the rules rigidly, apart from the
newly-announced measures, the statement said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9240" NEWID="4327">
<DATE>12-MAR-1987 12:26:36.56</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;f0694&#31;reute
r f BC-SEABOARD-CORP-&lt;SEB>-3   03-12 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>SEABOARD CORP &lt;SEB> 31 WEEK YEAR NET</TITLE>
<DATELINE>    NEWTON, Mass., March 12 -
    </DATELINE><BODY>Shr 14.63 dlrs
    Net 21.8 mln
    Revs 252.9 mln
    NOTE: Company changed its reporting period to Dec 31 from
May 31. It said prior year comparisons were thus not
applicable.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9241" NEWID="4328">
<DATE>12-MAR-1987 12:27:03.79</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>uk</D><D>turkey</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f0697&#31;reute
d f BC-TURKISH-SHIP-HEADED-F   03-12 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>TURKISH SHIP HEADED FOR FLORIDA AFTER EXPLOSION</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>The Turkish ore/bulk/oil vessel Obo
Engin, 78,078 tonnes dwt, had an explosion in its boiler
yesterday, Lloyds shipping Intelligence Service reported.
    The vessel has retained some power and yesterday evening
was in position Lat. 25 57 N., Long. 75 06 W. It is diverting
to Jacksonville, Florida, with its cargo of 58,000 tons of
coal.
   The vessel was bound for Iskenderun, Turkey from Lake
Charles.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9242" NEWID="4329">
<DATE>12-MAR-1987 12:28:33.08</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0701&#31;reute
h f BC-PORSCHE-RECALLS-892-O   03-12 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>PORSCHE RECALLS 892 OF ITS 1987 MODEL CARS</TITLE>
<DATELINE>    RENO, NEV., March 12 - </DATELINE><BODY>Porsche Cars North America Inc said
it will recall 892 Porsche 928S-4 model vehicles to replace
possibly defective fuel return hoses.
    It said the recall involves only 1987 model year vehicles.
    Porsche said the cars involved may have been fitted with
fuel return hoses which are not sufficiently resistant to
damage by exposure to atmospheric ozone.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9243" NEWID="4330">
<DATE>12-MAR-1987 12:28:49.13</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;f0703&#31;reute
r f BC-REUTER-INC-&lt;REUT>-4TH   03-12 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>REUTER INC &lt;REUT> 4TH QTR</TITLE>
<DATELINE>    HOPKINS, Minn., March 12 -
    </DATELINE><BODY>Shr 67 cts vs six cts
    Net 1.6 mln vs 131,630
    Revs 6.5 mln vs 4.5 mln
    Year
    Shr 85 cts vs 19 cts
    Net 2.0 mln vs 427,749
    Revs 25.1 mln vs 17.4 mln
    NOTE: 1986 net includes 1.4 mln dlrs in tax loss carryback.
Reuter Inc is a spindle maker. It is not connected with Reuters
Holdings PLC.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9244" NEWID="4331">
<DATE>12-MAR-1987 12:29:04.53</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;f0704&#31;reute
s f BC-CENTEL-CORP-&lt;CNT>-REG   03-12 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>CENTEL CORP &lt;CNT> REGULAR PAYOUT SET</TITLE>
<DATELINE>    CHICAGO, March 12 -
    </DATELINE><BODY>Qtly div 62-1/2 cts vs 62-1/2 cts previously
    Pay April 30
    Record April Seven
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9245" NEWID="4332">
<DATE>12-MAR-1987 12:29:41.80</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;f0706&#31;reute
r f BC-AMERICAN-STORES-&lt;ASC>   03-12 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN STORES &lt;ASC> MAY BE DOWNGRADED BY S/P</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Standard and Poor's Corp said it
placed on creditwatch with negative implications American
Stores Co because of its intention to repurchase up to 2.56 mln
shares of common stock, currently valued at 170 mln dlrs.
    American has 78 mln dlrs of A-rated senior debt and 256 mln
dlrs of BBB preferred stock, as well as A-1 paper.
    S and P said it projected debt to capital, pro forma for
the stock buy back, at more than 67 pct compared with an
average of 58.6 pct for the five years through 1985. Return on
permanent capital is estimated at between 15 and 16 pct, versus
an average of 18.4 pct.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9246" NEWID="4333">
<DATE>12-MAR-1987 12:30:35.96</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;f0708&#31;reute
u f BC-MOBIL-&lt;MOB>-TO-RESTRU   03-12 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>MOBIL &lt;MOB> TO RESTRUCTURE EXPLORATION UNIT</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Mobil Oil Corp said it will
restructure its Dallas-based Mobil Exploration and Producing
Services Inc operations April one, to provide stronger
technological support to its U.S. and overseas operations.
    Mobil said the operation will consist of two new units,
Technical Services and Application Technology, along with the
existing Drilling and New Exploration Ventures groups. It said
R.C. Mills, president and general manager of its Exploration
and Producing Southeast Inc, has been named vice president and
general manager of the new operation reporting to P.J.
Hoenmans, president of its Exploration and Producing division.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9247" NEWID="4334">
<DATE>12-MAR-1987 12:30:39.54</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0709&#31;reute
b f BC-******MERRILL-LYNCH-S   03-12 0008</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>MERRILL LYNCH SAYS IT FIRED NAHUM VASKEVITCH
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9248" NEWID="4335">
<DATE>12-MAR-1987 12:33:31.13</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;f0724&#31;reute
u f BC-BADGER-&lt;BMI>-SEES-NO   03-12 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>BADGER &lt;BMI> SEES NO REASON FOR TRADING ACTIVITY</TITLE>
<DATELINE>    MILWAUKEE, March 12 - </DATELINE><BODY>Badger Meter Inc said it was not
aware of any reason for the unusual trading activity in its
common stock.
    Badger was trading at 21-5/8, up 1-5/8.
    The company made the statement in response to an inquiry
from the American Stock Exchange regarding the unusual activity
in its stock.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9249" NEWID="4336">
<DATE>12-MAR-1987 12:34:26.79</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0730&#31;reute
u f BC-LANE-CO-&lt;LANB>-CHAIRM   03-12 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>LANE CO &lt;LANB> CHAIRMAN SUBMITS RESIGNATION</TITLE>
<DATELINE>    ALTAVISTA, Va., March 12 - </DATELINE><BODY>Lane Co Inc said its chairman,
B.B. Lane, has submitted his resignation as a director, officer
and employee, effective immediately.
    A company spokesman said there were no details available
beyond Lane Co's one sentence statement.
    According to proxy material the company filed with the
Securities and Exchange Commission in February 1986, B.B. Lane
then held about 4.5 pct of the company's stock.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9250" NEWID="4337">
<DATE>12-MAR-1987 12:36:05.30</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;f0742&#31;reute
r f BC-EQUITY-OIL-CO-&lt;EQTY>   03-12 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>EQUITY OIL CO &lt;EQTY> 4TH QTR LOSS</TITLE>
<DATELINE>    SALT LAKE CITY, March 12 -
    </DATELINE><BODY>Shr loss nine cts vs profit 11 cts
    Net loss 1,102,592 vs profit 1,364,763
    Revs 2,836,508 vs 5,547,121
    Year
    Shr loss six cts vs profit 32 cts
    Net loss 789,300 vs profit 3,953,822
    Revs 11.7 mln vs 21.1 mln
    NOTE:  Per share figures reflect five pct stock dividend
paid December 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9251" NEWID="4338">
<DATE>12-MAR-1987 12:36:15.36</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0743&#31;reute
h f BC-FN-RESULTS-HIT-BY-STR   03-12 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>FN RESULTS HIT BY STRIKES, DOLLAR IN 1986</TITLE>
<DATELINE>    BRUSSELS, March 12 - </DATELINE><BODY>Fabrique Nationale Herstal SA
&lt;FNHB.BR> said it suffered a net loss of 2.99 billion francs
last year after being hit by strikes, the falling dollar and
declining oil prices.
    An FN statement said the loss, which compared with a 6.8
mln franc profit the previous year, included considerable
charges for restructuring in 1986 and 1987. Without these the
net loss would have been 1.45 billion francs, it said.
    It added that the restructuring plan would allow the firm
to return to long term profitability once it had been approved
by local authorities, banks and the workforce.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9252" NEWID="4339">
<DATE>12-MAR-1987 12:36:23.48</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;f0744&#31;reute
d f BC-MILLIPORE-&lt;MILI>-ACQU   03-12 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>MILLIPORE &lt;MILI> ACQUIRES EQUITY IN PROTEIN</TITLE>
<DATELINE>    HUNTINGTON STATION, N.Y., March 12 - </DATELINE><BODY>&lt;Protein Databases
Inc> said Millipore Corp through its venture capital
subsidiary, Millicorp, acquired an equity position in the
company.
    Protein said it and Millipore intend to establish an
"interactive relationship."
    No other details were disclosed about the amount of
Millipore's investment in Protein.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9253" NEWID="4340">
<DATE>12-MAR-1987 12:37:35.48</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;f0746&#31;reute
d f BC-WILDLIFE-UNIT-PROPOSE   03-12 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>WILDLIFE UNIT PROPOSES ALASKA REFUGE OIL STUDY</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>The National Wildlife Federation 
rejected an Interior Department draft plan to open wilderness
lands in Northern Alaska to oil and gas exploration.
    The federation, the nation's largest conservation group,
said further study was needed to assess any possible damage
that development might have on the wildlife in the area, the
coastal plain of the Arctic National Wildlife Refuge.
    Jay Hair, the federation's executive vice president, called
the Interior's research into the effects of development "so
fundamentally flawed that it provides little or no basis on
which to make a public policy decision."
    Hair called the department's proposal a "reflection of a
largely political decision," adding "we have no confidence in
Interior to represent the broad public interest in this area."
    Interior wants to open the 1.5 million acre coastal plain
to oil and gas exploration, but it said only with tough 
safeguards to protect the area's caribou and musk-oxen.
    It said a preliminary survey showed the region could hold
billions of barrels of oil and gas, and that its potential as
an energy resource would never be known without exploration.
    Interior said oil on the coastal plain could match the 10
billion barrels found at Prudhoe Bay, just west of the plain.
    Under existing law, Congress must agree to oil and gas
exploration, and if it does not act, the land will remain a
wildlife refuge protected from commercial development.
    Hair said Interior's report failed to stress the
probability that finding recoverable oil is only 19 pct.
    He said Interior's study also failed to weigh oil, gas,
fish and wildlife information the State of Alaska had gathered
nor had the department consulted the Environmental Protection
Agency on the possible effects of exploration.
    The federation, in letters to Congressmen, proposed that a
nine-member commission be set up to study all aspects of the
issue and report back to Congress in about two years.
    Hair said the federation was not opposed to the possible
exploration of oil, only that Interior's study was inadquate to
make a sound judgement.
    Congressional observers said that at present there was
little sentiment in Congress to open the wildlife area for
commercial exploitation dispite increasing concern that the
United States is becoming overly dependent on foreign oil.
 reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9254" NEWID="4341">
<DATE>12-MAR-1987 12:42:37.65</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;f0767&#31;reute
r f BC-gemini-food-corp   03-12 0028</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;GEMINI FOOD CORP> SIX MTHS JANUARY 31 NET</TITLE>
<DATELINE>    TORONTO, March 12 -
    </DATELINE><BODY>Shr profit one ct vs loss one ct
    Net profit 150,594 vs loss 55,352
    Revs 19.0 mln vs 12.4 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9255" NEWID="4342">
<DATE>12-MAR-1987 12:43:38.93</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0772&#31;reute
d f BC-U.S.-MINERALS-&lt;USMX>   03-12 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. MINERALS &lt;USMX> AMENDS REGISTRATION</TITLE>
<DATELINE>    DENVER, March 12 - </DATELINE><BODY>U.S. Minerals Exploration Co said it
filed an amendment to its registration statement for a proposed
public offering of a minimum of 500,000 shares and a maximum of
1.3 mln shares of common stock.
    The amendment reflects an increase in the maximum number of
shares to be offered from 800,000 to 1.3 mln.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9256" NEWID="4343">
<DATE>12-MAR-1987 12:45:45.10</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;f0778&#31;reute
u f BC-MERRILL-LYNCH-&lt;MER>-F   03-12 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>MERRILL LYNCH &lt;MER> FIRES VASKEVITCH</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Merrill Lynch and Co Inc fired the
head of the mergers department in its London office today,
saying he had been unable to provide a "satisfactory
explanation" in response to insider trading charges filed
yesterday by the Securities and Exchange Commission.
    Merrill had suspended the official, Nahum Vaskevitch,
yesterday saying at the time it was "disappointed and angry" if
the SEC charges are true.
    Merrill Lynch's statement at midday today said the firm
will continue to cooperatie fully with authoriteis in the U.S.
and London investigating Vaskevitch's activities.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9257" NEWID="4344">
<DATE>12-MAR-1987 12:49:01.83</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;f0790&#31;reute
s f BC-LINCOLN-NATIONAL-CORP   03-12 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>LINCOLN NATIONAL CORP &lt;LNC> VOTES DIVIDEND</TITLE>
<DATELINE>    FORT WAYNE, IND., Marchg 12 -
    </DATELINE><BODY>Qtly div 54 cts vs 54 cts prior qtr
    Pay 1 May
    Record 10 April
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9258" NEWID="4345">
<DATE>12-MAR-1987 12:51:03.86</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>usa</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0792&#31;reute
u f BC-ST-LAWRENCE-SEAWAY-TO   03-12 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>ST LAWRENCE SEAWAY TO OPEN ON SCHEDULE</TITLE>
<DATELINE>    CHICAGO, March 12 - </DATELINE><BODY>The St Lawrence Seaway and the Welland
Canal linking Lakes Erie and Ontario were expected to open as
scheduled on March 31 and April 1, respectively, a St Lawrence
Seaway official said.
    The entire Seaway is already free of ice due to the mild
Winter and could be open for navigation today, "but there
doesn't seem to be enough demand from shipping companies to
warrant an early opening," the Canadian official said.
    Repairs are continuing at a stepped up pace on the Welland
Canal and should be completed by the April 1 start-up date, she
added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9259" NEWID="4346">
<DATE>12-MAR-1987 12:54:33.99</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;f0803&#31;reute
r f BC-LVI-GROUP-INC-&lt;LVI>-4   03-12 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>LVI GROUP INC &lt;LVI> 4TH QTR NET</TITLE>
<DATELINE>    NEW YORK, March 12 -
    </DATELINE><BODY>Oper shr profit two cts vs loss 19 cts
    Oper net profit 523,000 vs loss 2.2 mln
    Revs 102.5 mln vs 39.9 mln
    12 mths
    Oper shr profit 11 cts vs loss 29 cts
    Oper net profit 2.2 mln vs loss 2.9 mln
    Revs 304.4 mln vs 50.3 mln
    NOTE: All 1986 and last two months of 1985 include results
of NICO Inc acquired Oct 1985.
    Prior year excludes discontinued operations loss of 14 cts
per share in the quarter and loss 18 cts a share in the year.
    1986 excludes extraordinary gain of two cts per share in
the quarter and four cts per share in the year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9260" NEWID="4347">
<DATE>12-MAR-1987 12:55:07.33</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;f0804&#31;reute
d f BC-PROTOCOMDEVICES-&lt;PRCM   03-12 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>PROTOCOMDEVICES &lt;PRCM> SEES MORE PROFIT EROSION</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>ProtocomDevices Inc said it has seen
more erosion of its general financial condition since December
31, and is actively engaged in negotiations to secure
additional financing. It also said it has undergone a
restructuring of its management and is instituting further
staff reductions.
    It said Ramon Morales has relinquished his role as
president and chief operating officer and assumed the position
of executive vice president in charge of international sales.
    It also said Rafael Collado has assumed the positions of
president and chief operating officer in addition to his role
as chief executive officer.
    For the year ended January 31, 1986, the company had a net
loss of 51,000 dlrs or 24 cts a share on revenues of 2.8 mln
dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9261" NEWID="4348">
<DATE>12-MAR-1987 12:57:12.92</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0814&#31;reute
r f BC-CENTURY-&lt;CTL>-TO-SELL   03-12 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>CENTURY &lt;CTL> TO SELL CABLE PROPERTIES</TITLE>
<DATELINE>    MONROE, La., March 12 - </DATELINE><BODY>Century Telephone Enterprises Inc
said it agreed to sell its cable television properties located
in Michigan, Tennesse, Tennesse, Florida, Arkansas and
Louisiana.
    Terms and the name of the purchaser were not disclosed.
    The transaction, subject to a definitive agreement, is
expected to be completed in the near future, it said.
    Century said it expects to recognize a substantial gain on
the sale. For the year ended December 31, Century reported net
income of 17.2 mln dlrs on sales 146.0 mln dlrs.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9262" NEWID="4349">
<DATE>12-MAR-1987 12:59:56.53</DATE>
<TOPICS><D>coffee</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ico-coffee</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0820&#31;reute
u f BC-ICO-BOARD-MEETING-DEL   03-12 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>ICO BOARD MEETING DELAYED ONE DAY</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>The International Coffee Organization
(ICO) executive board meeting scheduled for the end of this
month has been delayed by one day and will now run from March
31 to April 2 and not March 30 to April 1, ICO officials said.
    On March 30, the ICO ad hoc working group will meet to
consider management consultants Ernst &amp; Whinney's report on the
ICO secretariat. This report was commissioned late last year to
report on the administrative structure of the ICO.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9263" NEWID="4350">
<DATE>12-MAR-1987 13:01:12.17</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F RM
&#22;&#22;&#1;f0822&#31;reute
r f BC-EMERSON-&lt;EMR>-TO-ISSU   03-12 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>EMERSON &lt;EMR> TO ISSUE NEW ZEALAND NOTES</TITLE>
<DATELINE>    ST. LOUIS, March 12 - </DATELINE><BODY>Emerson Electric Co said it will
issue about 56 mln dlrs (U.S.) 18.55 pct notes due 1989.
    It said interest and principal are payable in either New
Zealand or U.S. dollars.
    The notes will be offered through an underwriting syndicate
managed by Prudential-Bache Capital Funding at an offering
price of 100 pct. Proceeds will be used to retire commercial
paper and for general corporate purposes.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9264" NEWID="4351">
<DATE>12-MAR-1987 13:03:16.57</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;f0831&#31;reute
d f BC-PARADISE-FRUIT-CO-INC   03-12 0039</UNKNOWN>
<TEXT>&#2;
<TITLE>PARADISE FRUIT CO INC &lt;PARF> YEAR NET</TITLE>
<DATELINE>    PLANT CITY, Fla., March 12 -
    </DATELINE><BODY>Shr 86 cts vs 99 cts
    Net 435,610 vs 497,160
    Sales 16.6 mln vs 17.7 mln
    NOTE: 1986 year net penalized 13 cts shr from loss of
investment tax credits.
  
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9265" NEWID="4352">
<DATE>12-MAR-1987 13:03:29.69</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;f0832&#31;reute
d f BC-ZENITH-&lt;ZE>-SEEKS-HIG   03-12 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>ZENITH &lt;ZE> SEEKS HIGH COURT REVIEW ON DUMPING</TITLE>
<DATELINE>    GLENVIEW, Ill., March 12 - </DATELINE><BODY>Zenith Electronics Corp asked
the U.S. Supreme Court to consider its anti-dumping case
against Japanese television manufacturers.
    In a complex case that dates to 1974, Zenith has charged a
group of Japanese companies with violations of U.S. antitrust
and anti-dumping laws.
    The U.S. electronics company today said it asked the high
court to review a 1986 lower court ruling that dismissed both
the antitrust and anti-dumping portions of the case.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9266" NEWID="4353">
<DATE>12-MAR-1987 13:05:46.88</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;f0847&#31;reute
d f BC-SAMSON-ENERGY-CO-LIMI   03-12 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>SAMSON ENERGY CO LIMITED PARTNERSHIP &lt;SAM> YEAR</TITLE>
<DATELINE>    TULSA, Okla., March 12 -
    </DATELINE><BODY>Net loss 14,144,000 vs loss 863,000
    Revs 10.3 mln vs 16.7 mln
    NOTES: 1986 loss includes write-down of 15.1 mln dlrs in
the carrying value of oil and gas properties taken in the first
quarter 
    Cash flow from operationswas 6,237,000 dlrs, or 3.01 dlrs
per unit, vs 9,315,000 dlrs, or 4.56 dlrs per unit
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9267" NEWID="4354">
<DATE>12-MAR-1987 13:07:04.88</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0850&#31;reute
u f BC-FRN-MARKET-SLUMPS,-FI   03-12 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>FRN MARKET SLUMPS, FIXED RATE EUROBOND TRADE QUIET</TITLE>
<AUTHOR>    By Dominique Jackson, Reuters</AUTHOR>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>Eurobond prices in the floating rate
note sector slumped across the board by as much as a full point
on some issues.
    "Today has been irrational, irresponsible -- possibly the
worst day in what has been a dire six months for the floater
market," commented a senior FRN trader at a U.K. Bank.
    Republic of Ireland FRNs were marked sharply down in
initial trading and market nerves soon infected other
supra-national and sovereign paper with dealers attributing the
falls to aggressive professional shorting by a few leading U.S.
Investment houses.
    The FRN market has been suffering from acute contraction of
liquidity and consequent drain of investor confidence since the
effective collapse in the market for perpetual floating rate
issues late last year.
    Since then, FRN specialists noted that retail interest has
been sparse or completely absent and the stagnant market for
floating rate paper has become increasingly vulnerable to
manipulation, with nerves affecting all variety of borrowers.
    Floating rate debt of U.S. And Canadian banks came under
pressure last month when fears resurfaced about their exposure
to Latin American debt. Canadian banks were hard hit today.
    Fears about the Irish economy, exacerbated by recent
post-electoral political wrangling in Dublin, prompted a
sell-off of Ireland paper this morning with both dollar and
mark-denominated Irish issues tumbling by a full point or more.
    However, FRN dealers polled by Reuters felt the Irish
issues had been singled out -- as the U.S. And Canadian banks
were most recently -- as the market's most vulnerable sector.
    "A handful of professional houses are targetting the weak
paper, shorting it aggressively and this is just starting the
domino effect with basically sound paper also starting to roll
with it," a senior FRN market source explained.
    Although floating paper from better-regarded borrowers such
as the U.K. Managed to finish the day only around 10 basis
points down, other sovereigns like Sweden and supranationals
like Eurofima suffered heavier losses, FRN dealers said.
    Debt exposure fears continued to undermine U.S. And
Canadian bank paper with one U.K. House citing a fall of 1-5/8
point on the day on a Royal Bank of Canada issue.
    FRN traders noted Japanese investors, initially
enthusiastic floating rate debt buyers, had lost confidence in
the market and speculated that a crisis meeting, such as the
one called upon the collapse of the perpetuals, could be
imminent.
    "Retail clients just don't want to know about the floaters
any more so it has degenerated to a wily pass-the-parcel among
the professionals, all scheming to sweep the paper under the
carpet," another senior FRN trader said.
    "I don't know what is going to happen to the market. It
can't go on like this," he added.
    In the fixed-rate sector, trading was dull with the market
still attempting to digest a heavy volume of new issues from
earlier this week although primary market activity slowed
somewhat today, trading and syndicate sources reported.
    Dollar straight bonds ended the day barely changed from
opening levels as investors failed to react on the unexpectedly
large 4.1 pct rise in U.S. February retail sales, prefering to
wait for tomorrow's producer price and business inventory data.
    A 100 mln dlr deal for Norsk Hydro was launched later in
the day and the issue was trading around its total two pct fees
at close of grey market trade although dealers said the
borrower's frequent appearance in the euromarkets could deter
investors.
    The Canadian dollar sector however saw good two-way trade
and a continuation of recent healthy volume as the Canadian
dollar rides high on the foreign exchanges and futures markets.
    Dealers said the strength of the Canadian dollar, which has
firmed especially over the last two days, has renewed end
investors confidence in the currency.
    A new Canadian dollar issue for Hydro Quebec was seeing
excellent demand, sector specialists said, and the issue was
quickly increased to a total of 150 mln dlrs from 125 mln.
    "This kind of paper can be hard to sell and it is gratifying
to see such a high level of interest, both European and
domestic Canadian demand," commented one trader at a Canadian
house.
    Eurosterling, which has been in the limelight lately, also
on foreign exchange and currency bullishness, slipped slightly.
    Senior eurosterling sources noted that bond prices fell
back today, more or less in line with losses seen on the U.K.
Government bond market -- around 5/8 point lower at the longer
end of the eurosterling market.
    Dealers said overseas investors had not been buying today
and predicted consolidation before next week's U.K. Budget. A
55 mln stg convertible issue for confectioners Rowntree
Mackintosh was well bid at 104-5/8 105-1/8 pct and expected to
go well.
    Euroyen bonds showed a firmer tone led by some professional
short covering from Tokyo. Today's 23 billion deal for Toyota
Motor Credit with a 4-1/2 pct coupon was deemed tight however.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9268" NEWID="4355">
<DATE>12-MAR-1987 13:07:12.79</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0852&#31;reute
d f BC-BIOMET-&lt;BMET>-3RD-QTR   03-12 0045</UNKNOWN>
<TEXT>&#2;
<TITLE>BIOMET &lt;BMET> 3RD QTR REVENUES RISE</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Biomet Inc said its revenues for the
third quarter ended February 28 were up 21 pct to 14.1 mln dlrs
from 11.7 mln dlrs and nine month revenues were up 25 pct to
39.7 mln dlrs from 31.8 mln dlrs a year before.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9269" NEWID="4356">
<DATE>12-MAR-1987 13:10:17.58</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>usa</D><D>ussr</D></PLACES>
<PEOPLE><D>lyng</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0864&#31;reute
u f BC-/LYNG-SAYS-NO-DECISIO   03-12 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>LYNG SAYS NO DECISION ON SOVIET EEP OFFER</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>U.S. Agriculture Secretary Richard
Lyng said the Reagan administration had not decided on offering
the Soviet Union subsidized wheat but that such an offer had
not been ruled out.
    In an interview with Reuters, Lyng also said that he had no
knowledge of any upcoming discussion of the matter within the
cabinet.
    Asked if the administration had ruled out offering to
subsidize wheat exports to the Soviet Union under the
department's export enhancement program, Lyng said, "No. We
haven't made a decision on it, haven't even talked about it,
haven't even looked at it."
    Reminded that there have been reports that Moscow would buy
U.S. wheat if competitively priced, Lyng responded, "If they
(the Soviets) would offer to buy some wheat, would we accept
it? It would depend on what price they offered."
    Lyng added that he did not think the price of U.S. wheat
was far off the world price.
    Asked about persistent speculation that the administration
would offer Moscow a wheat subsidy, Lyng said, "Some people
think they're doing it to see if they can get a little spurt in
the market."
    Agriculture Undersecretary Daniel Amstutz last week asked
the Commodity Futures Trading Commission to investigate reports
that wheat prices were being manipulated by reports that a U.S.
wheat subsidy offer was imminent.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9270" NEWID="4357">
<DATE>12-MAR-1987 13:10:42.40</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;f0867&#31;reute
h f BC-ACCELERATION-CORP-&lt;AC   03-12 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>ACCELERATION CORP &lt;ACLE> 4TH QTR</TITLE>
<DATELINE>    DUBLIN, Ohio, March 12 -
    </DATELINE><BODY>Shr 22 cts vs 19 cts
    Net 1.1 mln vs 994,000
    Year
    Shr 83 cts vs 60 cts
    Net 4.3 mln vs 3.1 mln
    NOTE:1985 net includes tax loss carryforward gain of 8,000
dlrs.
  
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9271" NEWID="4358">
<DATE>12-MAR-1987 13:11:24.17</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;f0869&#31;reute
h f BC-&lt;ENERGY-OPTICS-INC>-2   03-12 0047</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;ENERGY OPTICS INC> 2ND QTR JAN 31 NET</TITLE>
<DATELINE>    LAS CRUCES, N.M., March 12 -
    </DATELINE><BODY>Shr profit nil vs loss five cts
    Net profit 232 vs loss 124,380
    Revs 143,397 vs 61,901
    1st half
    Shr profit one ct vs loss 10 cts
    Net profit 15,722 vs loss 264,539
    Revs 354,843 vs 120,403
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9272" NEWID="4359">
<DATE>12-MAR-1987 13:12:43.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0875&#31;reute
d f BC-SYNERCOM-&lt;SYNR>-HOLDE   03-12 0040</UNKNOWN>
<TEXT>&#2;
<TITLE>SYNERCOM &lt;SYNR> HOLDERS OK LIABILITY LIMITATION</TITLE>
<DATELINE>    HOUSTON, March 12 - </DATELINE><BODY>Synercom Technology Inc said
shareholders at the annual meeting approved the limnitation of
directors' liability in certain circumstances in accordance
with Delaware law.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9273" NEWID="4360">
<DATE>12-MAR-1987 13:13:07.85</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;f0878&#31;reute
r f BC-BLUE-GASS-BREEDERS-&lt;B   03-12 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>BLUE GASS BREEDERS &lt;BLGR> COMPLETES ACQUISITION</TITLE>
<DATELINE>    DENVER, March 12 - </DATELINE><BODY>Blue Grass Breeders Inc said it has
completed the acquisition of Equine Enterprises Inc for four
mln common shares.
    It said it is obligated to deliver another 2,741,660 shares
on the attainment of a certain level of shareholders' equity
during any fiscal quarter within 12 months of closing.
    If all the contingent shares are issued, Blue Grass said
former owners of Equine will have a 75 pct interest in Blue
Grass.
    Equine is a New Mexico quarter horse breeding and racing
company.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9274" NEWID="4361">
<DATE>12-MAR-1987 13:13:13.33</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;f0879&#31;reute
h f BC-DIGIMED-CORP-2ND-QTR   03-12 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>DIGIMED CORP 2ND QTR DEC 31 LOSS</TITLE>
<DATELINE>    MINNEAPOLIS, March 12 -
    </DATELINE><BODY>Shr loss two cts vs loss five cts
    Net loss 17,334 vs loss 51,507
    Sales 245,560 vs 179,839
    Avg shrs 1,136,785 vs 1,046,785
    Six mths
    Shr profit four cts vs loss 17 cts
    Net profit 47,749 vs loss 174,373
    Sales 721,937 vs 284,809
    Avg shrs 1,136,785 vs 1,046,785
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9275" NEWID="4362">
<DATE>12-MAR-1987 13:14:23.02</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;f0883&#31;reute
d f BC-ENVIROPACT-&lt;VIRO>-IN   03-12 0038</UNKNOWN>
<TEXT>&#2;
<TITLE>ENVIROPACT &lt;VIRO> IN NASDAQ NATIONAL EXPANSION</TITLE>
<DATELINE>    MIAMI, March 12 - </DATELINE><BODY>Enviropact Inc said its stock has been
included for listing in the National Association of Securities
Dealers' NASDAQ National Market System effective March 17.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9276" NEWID="4363">
<DATE>12-MAR-1987 13:14:35.92</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;f0884&#31;reute
d f BC-FLIGHT-INTERNATIONAL   03-12 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>FLIGHT INTERNATIONAL GROUP INC &lt;FLTI> 3RD QTR</TITLE>
<DATELINE>    ATLANTA, March 12 - </DATELINE><BODY>periods ended January 31
    Shr profit 22 cts vs loss 26 cts
    Net profit 439,000 vs loss 522,000
    Revs 5,600,000 vs 3,859,000
    Nine mths
    Shr profit 46 cts vs loss three cts
    Net profit 912,000 vs loss 59,000
    Revs 14.6 mln vs 18.3 mln
    NOTE: Year ago revenues include 400,000 dlrs in quarter and
2,227,000 dlrs in nine months from operations of subsidiary
sold in April 1986
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9277" NEWID="4364">
<DATE>12-MAR-1987 13:15:17.78</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0885&#31;reute
u f BC-NORD-EST-PLANS-400-ML   03-12 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>NORD EST PLANS 400 MLN FRANC BOND ISSUE</TITLE>
<DATELINE>    PARIS, March 12 - </DATELINE><BODY>Financial and industrial holding company
Nord Est plans to make a convertible bond issue for a total of
400 mln francs, President Gustave Rambaud said.
    He told a news conference Nord-Est expected to receive
approval from the Bourse supervisory body COB in the next two
week, when terms would set according to market conditions.
    He said the issue was meant to boost capital ahead of new
investments.
    Rambaud said the company would pay a 1986 dividend of 5.25
francs, unchanged on 1985. Parent company net profit last year
rose to 99.5 mln francs against 71.1 mln in 1985.
    Provisional consolidated profits were lower at 185 mln
francs compared with 200 mln in 1985, of which 120 mln, against
147 mln, was attributable to the group. He said the lower
profit was mainly due to losses made by steel-tube maker
Vallourec, in which Nord Est has a 12.5 pct stake.
    Rambaud said he forecast a 1987 parent company net profit
before provisions of around 135 mln francs.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9278" NEWID="4365">
<DATE>12-MAR-1987 13:18:30.31</DATE>
<TOPICS><D>crude</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;f0897&#31;reute
u f BC-SOLV-EX-&lt;SOLV>-SHELL   03-12 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>SOLV-EX &lt;SOLV> SHELL CANADA &lt;SHC> PACT COMPLETE</TITLE>
<DATELINE>    ALBUQUERQUE, N.M., March 12 - </DATELINE><BODY>Solv-Ex Corp said it
successfully completed its oil sands pilot testing program
under its agreement with Shell Canada Limited &lt;SHC> and
received a 250,000 U.S. dlr bonus payment.
    It also said that Shell Canada exercised its option to take
over Solv-Ex's 25 pct working interest in the construction of
the oil facility, relieving it of its obligation to raise about
62.5 mln Canadian dlrs for plant construction.
    It said 30 pct of that loan was guaranteed by the
Government of Alberta.
    In exchange for Shell's participation, Solv-Ex said Shell
is obligated to pay it an up-front royalty and a running
royalty based on the operating profits of the oil sands
facility. It said the Shell Canada 7,500 barrel per day oil
sands project will be built on Shell's oil sand lease about 40
miles north of Fort McMurray in the Athabasca region of
northern Alberta.
    Solv-Ex said the project will cost about 260 mln Canadian
dlrs. It said that following a final feasibility study the
plant should open in the early 1990s when oil prices are
expected to exceed 20 U.S. dlrs per barrel.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9279" NEWID="4366">
<DATE>12-MAR-1987 13:18:57.93</DATE>
<TOPICS><D>bop</D></TOPICS>
<PLACES><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0901&#31;reute
r f BC-SPAIN-HAS-68-MLN-DLR   03-12 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>SPAIN HAS 68 MLN DLR JANUARY PAYMENTS SURPLUS</TITLE>
<DATELINE>    MADRID, March 12 - </DATELINE><BODY>Spain had a 68 mln dlr current account
balance of payments surplus in January compared with a 556 mln
deficit in December and 370 mln surplus in January last year,
Bank of Spain figures show.
    The trade deficit rose to 664 mln dlrs in January from 146
mln in January 1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9280" NEWID="4367">
<DATE>12-MAR-1987 13:19:17.13</DATE>
<TOPICS><D>crude</D><D>acq</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;f0903&#31;reute
u f BC-UNION-PACIFIC-&lt;UNP>-I   03-12 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>UNION PACIFIC &lt;UNP> IN PARTNERSHIP WITH PDVSA</TITLE>
<DATELINE>    NEW YORK, MARCH 12 - </DATELINE><BODY>Union Pacific Corp said it will enter
a 50-50 partnership with Petroles de Venezuela, PDVSA, to own
and operate Union Pacific's 160,000 barrel-per-day Corpus
Christi, Texas, oil refinery.
    The assests to be acquired by the partnership are valued at
190 mln dlrs, Union Pacific said.
    Closing is expected to take place in early April and the
venture is to be called Champlin Refining Co.
    The partnership will acquire the refining and distribution
systems currently owned and operated by Champlin Petroleum, a
wholly owned subsidiary of Union Pacific.
    The venture will acquire the related inventories and the
Champlin trade name, the company said.
    PDVSA and Union Pacific will each contribute half the
capital required by the venture and arrange a revolving credit
facility with U.S. and foreign banks to finance inventories and
receivables, Union Pacific said.
    Petroles de Venezuela also signed a 25-year agreement to
supply at least 140,000 bpd of Venezulean crude oil and naphtha
to the refinery at market related prices.
    Under various options the in the agreement PDVSA could
supply another 50,000 bpd on similar terms, the company said.
    "This will provide a stable, long-term supply to the
refinery at competitive costs, thereby assuring the economic
viability of the plant," a statement issued by Union Pacific
said.
   The statement said the agreement with PDVSA will enable the
company to supply a steady flow of refined products to its
customers.
   Union Pacific said employees of the refinery would be
transfered to the new company and would retain the same
benefits as in the past.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9281" NEWID="4368">
<DATE>12-MAR-1987 13:19:50.18</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0904&#31;reute
r f BC-SCOTT-INSTRUMENTS-&lt;SC   03-12 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>SCOTT INSTRUMENTS &lt;SCTI> TO STRESS MARKETING</TITLE>
<DATELINE>    DENTON, Texas, March 12 - </DATELINE><BODY>Scott Instruments Corp said it
has decided to concentrate on marketing new applications of its
existing research.
    It said it will realize cost savings from the reduction of
manufacturing and marketing staff and overhead expenses.
    The company said it will seek to license its Coretechs Vet
3 speech recognition product to other companies and have them
provide manufacturing, market development, distribution and
support activities in the industrial market.
    It said it is near completion of talks for a British
company to distribute Vet 3 in Britain and Europe.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9282" NEWID="4369">
<DATE>12-MAR-1987 13:21:47.76</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;f0910&#31;reute
u f BC-PUROLATOR   03-12 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>PUROLATOR &lt;PCC> DIRECTOR QUITS OVER BUYOUT</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>A Purolator Courier Corp director
resigned from the company's board, saying he plans to take
steps to make or find an offer that tops the 265 mln dlr buyout
deal already accepted by Purolator's board, the company said.
    The director, Doresy Gardner, resigned in a March 10 letter
to the Purolator board, which was included in a filing made by
the company to the Securities and Exchange Commission.
    Gardner noted that the terms of the merger agreement in
which the company would bought out by a group of its managers
and E.F. Hutton LBO Inc bar directors from taking action to
solicit, initiate or encourage acquisition proposals.
    "I, as a shareholder, wish to solicit, initiate or
encourage such an offer or indication of interest, and believe,
therefore, that I should resign as a director of the
corporation," Gardner said in the letter.
    "Accordingly, I hereby resign as a director of Purolator
Courier Corp, effective immediately," he said.
    Gardner said he believes shareholders could get a better
deal than the buyout offer if the company would agree to be
sold to some other entity, or if it could sell off all or part
of its U.S. courier division.
    On March 4, another Purolator shareholder, Rodney Shields,
filed a class action suit on behalf of the company's
shareholders charging the company and its board with breaching
their fiduciary duty by failing to take steps to ensure that
shareholders got the highest possible price in the buyout.
    The deal would give shareholders 35 dlrs a share in cash if
just 83 pct of Purolator's 7.6 mln shares are tendered. If more
are tendered, they would receive 29 dlrs in cash and six dlrs
in debentures and a warrant to buy stock in the new company in
exchange for each share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9283" NEWID="4370">
<DATE>12-MAR-1987 13:23:26.32</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;f0921&#31;reute
r f BC-UNR-INDUSTRIES-INC-&lt;U   03-12 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>UNR INDUSTRIES INC &lt;UNRIQ> 4TH QTR NET</TITLE>
<DATELINE>    CHICAGO, March 12 -
    </DATELINE><BODY>Shr profit 75 cts vs profit 25 cts
    Net profit 2,742,962 vs profit 936,333
    Sales 74.9 mln vs 70.1 mln
    Year
    Shr profit 1.05 dlrs vs loss 1.07 dlrs
    Net profit 3,868,888 vs loss 3,931,580
    Sales 299.3 mln vs 281.1 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9284" NEWID="4371">
<DATE>12-MAR-1987 13:24:46.45</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;f0927&#31;reute
h f BC-CENTURY-TELEPHONE-&lt;CT   03-12 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>CENTURY TELEPHONE &lt;CTL> TO SELL PROPERTIES</TITLE>
<DATELINE>    MONROE, La., March 12 - </DATELINE><BODY>Century Telephone Enterprises Inc
said it has accepted an offer to sell its cable television
properties in Michigan, Tennessee, Florida, Arkansas and
Louisiana for a "substantial" gain.
    The company said details were not disclosed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9285" NEWID="4372">
<DATE>12-MAR-1987 13:26:52.71</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;f0932&#31;reute
r f BC-VOLT-INFORMATION-SCIE   03-12 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>VOLT INFORMATION SCIENCES INC &lt;VOLT> 1ST QTR</TITLE>
<DATELINE>    NEW YORK, March 12 -
    </DATELINE><BODY>Shr 12 cts vs seven cts
    Net 817,000 vs 512,000
    Revs 107.5 mln vs 99.9 mln
    Avg 6.9 mln vs 7.2 mln
    NOTE: 1987 net includes 2.4 mln dlr pretax gain on
settlement, 743,000 dlrs gain on securities sale, interest
expense net of investment income of 2.2 mln dlrs and 920,000
dlrs in fiscal 1986. Change of European operations method
resulted in pre-tax translation losses of 1.1 mln dlrs in 1987.
Period ended January 30.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9286" NEWID="4373">
<DATE>12-MAR-1987 13:27:33.66</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0934&#31;reute
u f BC-MAGMA-&lt;MGCPV>-STOCK-T   03-12 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>MAGMA &lt;MGCPV> STOCK TRANSFERABILITY LIMITED</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Newmont Mining Corp &lt;NEM> said Magma
Copper Co's certificate of incorporation and by-laws have been
restated to limit the transferability of the company's stock.
    In an information statement on its decision to distribute
Magma stock as a dividend, Newmont said the changes "will
impede any change of control of Magma."
    It said this has been done by authorizing two closses of
common stock -- 60 mln class A shares with one vote each and
38.1 mln class B shares with four votes each. In the dividend
of one Magma share for each Newmont share outstanding announced
Tuesday, Class B shares are being distributed.
    Newmont is distributing 30,458,100 Magma shares, or 80 pct
of the Class B common, to its shareholders.
    It said this stock will be transferable as Class B stock
until one entity acquires over 10 pct of the shares.
    Any shares over 10 pct of those outstanding will
automatically be changed by the transfer agent to Class A
stock, Newmont said.
    The company said there are two exceptions under the bylaws
-- the 15 pct of Magma's stock it is retaining and the 21 pct
which will be held by &lt;Consolidated Gold Fields PLC> as a
result of its ownership of that portion of Newmont.
    However, Newmont Secretary Roger Adams said, any additional
Magma shares acquired by Newmont or Consolidated will
automatically become Class A shares.
    None of the authorized Class A shares is being distributed
at this point, Newmont said.
    The company also said five pct of Magma's stock is being
held in trust for members of Magma's management.
    Newmont said Magma's restated certificate of incorporation
also limits change in control of the company by dividing the
board into three classes serving staggered terms.
    Newmont said the new Magma rules also provide that
shareholder action can be taken only at shareholder meetings,
prohibiting shareholder action by written consent, and include
"fair price" provisions limiting combinations with any holder
of more than 10 pct of Magma's voting power.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9287" NEWID="4374">
<DATE>12-MAR-1987 13:28:09.56</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;f0936&#31;reute
r f BC-PARADISE-FRUIT-&lt;PARF>   03-12 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>PARADISE FRUIT &lt;PARF> SETS LOWER DIVIDEND</TITLE>
<DATELINE>    PLANT CITY, Fla., March 12 - </DATELINE><BODY>Paradise Fruit Co Inc said its
board declared a dividend of 25 cts per share, payable March 31
to holders of record March 19.
    The company last paid 50 cts per share in January 1986 and
before that paid 60 cts in January 1985.
    Paradise said commercial bank lending agreements it entered
into in June 1986 include retained earnings requirements that
limit the amount of earnings available for distribution to
shareholders.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9288" NEWID="4375">
<DATE>12-MAR-1987 13:28:25.60</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0938&#31;reute
r f BC-DIGITEXT-&lt;DIGT>-PLANS   03-12 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>DIGITEXT &lt;DIGT> PLANS UNIT OFFERING</TITLE>
<DATELINE>    THOUSAND OAKS, Calif., March 12 - </DATELINE><BODY>Digitext Inc said it
signed a letter of intent covering a planned 12 mln dlr unit
offering consisting of preferred stock and warrants to purchase
common stock.
    The company said it expects to file a registration
statement covering the offering with the Securities and
Exchange Commission within the next 60 days.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9289" NEWID="4376">
<DATE>12-MAR-1987 13:28:29.84</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;f0939&#31;reute
d f BC-&lt;canada-malting-co-lt   03-12 0040</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;CANADA MALTING CO LTD> YEAR NET</TITLE>
<DATELINE>    Toronto, March 12 -
    </DATELINE><BODY>Oper shr 1.30 dlrs vs 1.51 dlrs
    Oper net 4.06 mln vs 4.17 mln
    Sales 146.3 mln vs 155.9 mln
    Note: 1985 excludes extraordinary loss of 7.45 mln dlrs, or
2.70 dlrs per share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9290" NEWID="4377">
<DATE>12-MAR-1987 13:28:43.47</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0940&#31;reute
d f BC-VARIAN-&lt;VAR>-GETS-19   03-12 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>VARIAN &lt;VAR> GETS 19 MLN DLR SUBCONTRACT</TITLE>
<DATELINE>    PALO ALTO, Calif., March 12 - </DATELINE><BODY>Varian Associates Inc said it
received a 19 mln dlr subcontract from General Electric Co &lt;GE>
for 36 100 kilowatt transmitters to be used in the Air Force's
advanced AN/FPS-118 over-the-horizon backscatter radar systems.
    Nearly 15 mln dlrs was funded immediately, Varian said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9291" NEWID="4378">
<DATE>12-MAR-1987 13:29:29.97</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;f0941&#31;reute
d f BC-NORTH-AMERICAN-HOLDIN   03-12 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>NORTH AMERICAN HOLDING CORP &lt;NAHL> 3RD QTR NET</TITLE>
<DATELINE>    EAST HARTFORD, Conn., March 12 - </DATELINE><BODY>Dec 31 end
    Shr profit nil vs loss four cts
    Net profit 6,891 vs loss 590,460
    Revs 6,518,133 vs 2,521,884
    Avg shrs 13.1 mln vs 12.0 mln
    Nine mths
    Shr profit six cts vs loss seven cts
    Net profit 772,703 vs loss 758,620
    Revs 20.1 mln vs 7,599,017
    Avg shrs 13.2 mln vs 10.9 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9292" NEWID="4379">
<DATE>12-MAR-1987 13:30:06.71</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0943&#31;reute
w f BC-MELVILLE-&lt;MES>-NAMES   03-12 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>MELVILLE &lt;MES> NAMES CHIEF FINANCIAL OFFICER</TITLE>
<DATELINE>    HARRISON, N.Y., March 12 - </DATELINE><BODY>Melville Corp said it elected
Robert Huth as executive vice president and chief financial
officer, succeeding Kenneth Berland on April six.
    Berland will continue as vice chairman and chief
administrative officer.
    Huth is a partner in the accounting firm of Peat, Marwick,
Mitchell and Co.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9293" NEWID="4380">
<DATE>12-MAR-1987 13:30:29.53</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;f0944&#31;reute
s f BC-GENERAL-HOST-CORP-&lt;GH   03-12 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL HOST CORP &lt;GH> SETS QUARTERLY</TITLE>
<DATELINE>    STAMFORD, Conn., March 12 -
    </DATELINE><BODY>Qtly div six cts vs six cts prior
    Pay April Three
    Record March 23
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9294" NEWID="4381">
<DATE>12-MAR-1987 13:31:17.49</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0946&#31;reute
r f BC-U.S.-AUTO-OUTPUT-SAID   03-12 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. AUTO OUTPUT SAID DOWN THIS WEEK</TITLE>
<DATELINE>    DETROIT, March 12 - </DATELINE><BODY>Automobile production by U.S.
manufacturers this week will be 2.5 pct below output for the
same week last year, according to Automotive News.
    The trade paper said 167,942 cars will be made in the
United States this week, down from 172,348 during last year's
week.
    Production will also be below last week's level, when
173,596 cars were made, the paper estimated.
    Truck output this week will be 79,784 vehicles, ahead of
the 76,059 units made during the same week last year but behind
the 80,424 trucks made last week.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9295" NEWID="4382">
<DATE>12-MAR-1987 13:32:15.01</DATE>
<TOPICS><D>grain</D><D>corn</D><D>wheat</D></TOPICS>
<PLACES><D>usa</D><D>ussr</D></PLACES>
<PEOPLE><D>lyng</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0950&#31;reute
u f BC-/U.S.-SOVIET-GRAIN-AC   03-12 0132</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S.-SOVIET GRAIN ACCORD QUESTIONED BY LYNG</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>U.S. Agriculture Secretary Richard
Lyng said he was not sure a long-term U.S.-Soviet grain
agreement would be worth extending when it expires next year.
    "It hasn't been worth much in the last two years....They
haven't lived up to the agreement as I see it," Lyng said in an
interview with Reuters.
    "It would be my thought that it's not worth any effort to
work out an agreement with someone who wants the agreement to
be a one-sided thing," he said.
    However, Lyng said he did not want to make a "definitive
commitment one way or another at this point."
    Under the accord covering 1983-88, the Soviets agreed to
buy at least nine mln tonnes of U.S. grain, including four mln
tonnes each of corn and wheat.
    Moscow bought 6.8 mln tonnes of corn and 153,000 tonnes of
wheat during the third agreement year, which ended last
September, and this year has bought one mln tonnes of corn.
    Lyng said he had no knowledge of how much U.S. grain Moscow
would buy this year.
    "I've seen people making comments on that and I don't know
how they know, unless they talk to the Soviets," he said. "I have
no knowledge, and I really don't think anyone other than the
Soviets have any knowledge."
    Lyng said he thought the Soviets bought U.S. corn last
month because "they needed it and because the price was right."
    "Our corn has been pretty reasonably priced. And I think
they've always found that our corn was good," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9296" NEWID="4383">
<DATE>12-MAR-1987 13:33:12.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>morocco</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>worldbank</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0957&#31;reute
u f BC-MOROCCO-SECURES-BULK   03-12 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>MOROCCO SECURES BULK OF EXTRA AID SOUGHT</TITLE>
<DATELINE>    PARIS, March 12 - </DATELINE><BODY>Morocco is likely to get an extra aid
package exceeding 100 mln Special Drawing Rights (126 mln dlrs)
in 1987 following a three-day Consultative Group meeting of
donors chaired by the World Bank, Moroccan Finance Minister
Mohamed Berada said.
    Berrada said most of the extra aid sought to complete high
priority investments in agriculture, education, and public
health had already been secured, and additional sums were
likely to emerge from forthcoming bilateral meetings with
donors.
    A World Bank statement said the Consultative Group meeting
attended by 15 donor countries and agencies noted with
satisfaction a marked improvement in Morocco's economic
performance and urged it to continue recent adjustment efforts.
    It added that the Group saw as realistic Morocco's
medium-term goal of restoring creditworthiness on financial
markets, and agreed to reconvene in a year to discuss Morocco's
five year development strategy for 1988-92, introduced in its
broad outlines at this week's meeting.
    Morocco reached an agreement here last week with the Paris
Club of western creditor governments to reschedule over 10
years the 900 mln dlrs of debt due by mid 1988. That followed
an agreement late last year to reschedule 1.8 billion dlrs of
commercial bank debt.
    Morocco's foreign debt currently totals 14 billion dlrs,
Berrada said, adding that Morocco intended to stop rescheduling
its debts, and pay them off instead.
    He told Reuters the forthcoming five-year development plan,
designed to avoid the negative effects of adjustment without
growth, could require further aid of 700 or 800 mln dlrs.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9297" NEWID="4384">
<DATE>12-MAR-1987 13:34:41.73</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;f0970&#31;reute
s f BC-GROW-GROUP-INC-&lt;GRO>   03-12 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>GROW GROUP INC &lt;GRO> SETS QUARTERLY</TITLE>
<DATELINE>    NEW YORK, March 12 -
    </DATELINE><BODY>Qtly div 7-1/2 cts vs 7-1/2 cts prior
    Pay April 30
    Record April 15
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9298" NEWID="4385">
<DATE>12-MAR-1987 13:35:01.74</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;f0971&#31;reute
d f BC-DIGIMED-CORP-2ND-QTR   03-12 0047</UNKNOWN>
<TEXT>&#2;
<TITLE>DIGIMED CORP 2ND QTR DEC 31 LOSS</TITLE>
<DATELINE>    MINNEAPOLIS, March 12 -
    </DATELINE><BODY>Shr loss 1.5 cts vs loss five cts
    Net loss 17,334 vs loss 51,507
    Sales 245,560 vs 179,839
    Six mths
    Shr profit four cts vs loss 17 cts
    Net profit 47,749 vs loss 174,373
    Sales 721,937 vs 284,809
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9299" NEWID="4386">
<DATE>12-MAR-1987 13:35:48.41</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;f0972&#31;reute
r f BC-POWERINE-REFINERY-TO   03-12 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>POWERINE REFINERY TO RESUME OPERATIONS</TITLE>
<DATELINE>    SANTA FE SPRINGS, CALIF, March 12 - </DATELINE><BODY>&lt;Powerine Oil Co> said
its refinery here will resume operation today, with initial
crude oil runs of 20,000 barrels per day.
    Powerine, a privately-held company, said it expects the
refinery to become fully operational by May, with crude oil
throughput at 35,000 bpd.
    Initial oil products deliveries are scheduled for Monday,
Powerine said. The refinery had been closed due to a change of
ownership, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9300" NEWID="4387">
<DATE>12-MAR-1987 13:41:55.19</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;f0981&#31;reute
s f BC-TRINITY-INDUSTRIES-IN   03-12 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>TRINITY INDUSTRIES INC &lt;TRN> SETS QUARTERLY</TITLE>
<DATELINE>    DALLAS, March 12 -
    </DATELINE><BODY>Qtly div 12-1/2 cts vs 12-1/2 cts prior
    Pay April 30
    Record April 15
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9301" NEWID="4388">
<DATE>12-MAR-1987 13:42:55.22</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;f0985&#31;reute
s f BC-COASTAL-BANCORP-&lt;CSBK   03-12 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>COASTAL BANCORP &lt;CSBK> SETS QUARTERLY</TITLE>
<DATELINE>    PORTLAND, Maine, March 12 -
    </DATELINE><BODY>Qtly div five cts vs five cts prior
    Pay April 15
    Record March 30
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9302" NEWID="4389">
<DATE>12-MAR-1987 13:43:00.41</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;f0986&#31;reute
s f BC-IDAHO-POWER-CO-&lt;IDA>   03-12 0022</UNKNOWN>
<TEXT>&#2;
<TITLE>IDAHO POWER CO &lt;IDA> SETS QUARTERLY</TITLE>
<DATELINE>    BOISE, Idaho, March 12 -
    </DATELINE><BODY>Qtly div 45 cts vs 45 cts prior
    Pay May 20
    Record April 24
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9303" NEWID="4390">
<DATE>12-MAR-1987 13:43:39.50</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0989&#31;reute
b f BC-CORRECTION---BUDAPEST   03-12 0072</UNKNOWN>
<TEXT TYPE="UNPROC">&#2;
CORRECTION - BUDAPEST BANK ISSUES BONDS
    In Budapest item "BUDAPEST BANK ISSUES BONDS TO EXPAND
RESOURCES" please read in first paragraph...."..The first of the
Hungarian-owned commercial banks operating since January..."
    (Inserting dropped words "Hungarian-owned" to make clear
Hungarian commercial banks began operating in January. Joint
venture commercial banks with western participation operated
before January.)
 REUTER
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9304" NEWID="4391">
<DATE>12-MAR-1987 13:44:20.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0990&#31;reute
u f BC-DISTILLERS-&lt;DR>-KNOWS   03-12 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>DISTILLERS &lt;DR> KNOWS NO REASON FOR STOCK MOVE</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>National Distillers and Chemical Corp
said it was unable to explain a sharp rise in its stock.
    National Distillers rose 3-1/8 to 63-3/4 in moderate
trading of 84,000 shares. Texas investor Robert M. Bass
recently filed a 13D with the Securities and Exchange
Commission, disclosing a stake of more than five pct.
    John Salisbury, vice president and general counsel of
National Distillers, said there were no new developments
concerning Bass. Salisbury also said the company continues
efforts to sell its liquor business and several potential
buyers have inspected the properties.
    Robert Reitzes, analyst at Mabon, Nugent and Co, said
National Distillers's wine and liquor business combined might
be sold for between 600 and 700 mln dlrs. The company completed
sale of its Almaden wine business to Heublein Inc earlier this
week but did not disclose any figures. Heublein is owned by
Grand Metropolitan plc.
    Reitzes said he reiterated a buy recommendation on the
stock yesterday, calling it the biggest commodity chemical play
in the industry. He said recently increased polyetylene prices
appear to be holding.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9305" NEWID="4392">
<DATE>12-MAR-1987 13:44:34.69</DATE>
<TOPICS><D>oilseed</D><D>soybean</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>lyng</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0991&#31;reute
u f BC-U.S.-SOYBEAN-MARKETIN   03-12 0142</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. SOYBEAN MARKETING LOAN NOT NEEDED - LYNG</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>U.S. Agriculture Secretary Richard
Lyng said a marketing loan for soybeans would serve no present
purpose because the U.S. price is not above the world price.
    Asked in an interview if it was time to consider a
marketing loan for soybeans, Lyng said, "I don't think so. I
don't think the world price is lower than our price anyway."
    However, the USDA secretary said that if current conditions
of surplus production persisted, it might be appropriate to
consider a marketing loan.
    "I suppose that under that condition there is a danger our
exports will continue to drop and that the government will
continue to accumulate large stocks of soybeans," he said. "It
might be (worth contemplating a marketing loan), if there were
a world market that was lower than our market."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9306" NEWID="4393">
<DATE>12-MAR-1987 13:45:44.77</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>ussr</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0992&#31;reute
r f AM-ARMS-AMERICAN-URGENT   03-12 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. ISSUES VERIFICATION PROPOSALS AT ARMS TALKS</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>The United States made its proposals
for verifying adherence to a prospective treaty on medium range
nuclear weapons and in a highly unusual move made public the
outlines of its recommendations.
    State Department spokesman Charles Redman told reporters
the proposals were made to the Soviet Union at Geneva arms
control talks today.
    The proposals included on-site inspection that could result
in inspectors from the two superpowers being stationed
permanently on the territory of the other.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9307" NEWID="4394">
<DATE>12-MAR-1987 13:45:59.19</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;f0994&#31;reute
r f BC-NYFE-SEAT-SOLD-FOR-20   03-12 0047</UNKNOWN>
<TEXT>&#2;
<TITLE>NYFE SEAT SOLD FOR 200 DLRS</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>The New York Stock Exchange said a
seat on the New York Futures Exchange sold for 200 dlrs, which
is unchanged from the previous sale, made yesterday.
    The NYSE said the current bid is 200 dlrs and the current
offer is 300 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9308" NEWID="4395">
<DATE>12-MAR-1987 13:47:32.06</DATE>
<TOPICS></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;f0995&#31;reute
d f BC-BRITISH-TELECOM-&lt;BTY>   03-12 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>BRITISH TELECOM &lt;BTY> UNIT TO OFFER SOFTWARE</TITLE>
<DATELINE>    ROCKVILLE, Md., March 12 - </DATELINE><BODY>British Telecommunications PLC's
Dialcom unit said it will begin next month to sell a software
package that allows computers made by different manufacturers
to send and receive electronic-mail messages.
    The software, which is based on the X.400 international
standard recommendation, will be marketed internationally,
Dialcom said.
    In addition, the company said Data General Corp &lt;DGN>
agreed to conduct engineering tests of the software in the
United States. Data General is a strong proponent of the X.400
standard.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9309" NEWID="4396">
<DATE>12-MAR-1987 13:47:58.74</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f0996&#31;reute
d f BC-U.S.-HOUSE-DEMOCRAT,   03-12 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. HOUSE DEMOCRAT, GOP BUDGET WRITERS MEET</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>In a step that could lead to a
breakthrough in the drafting of next year's federal budget,
Democratic and Republican members of the House Budget Committee
met behind closed doors to explore the possibility of a
bipartisan budget, lawmakers said.
    No conclusions were reached on whether the two sides would
be able to get together on a budget outline, the lawmakers
said.
    After the meeting broke up, panel Democrats reconvened
behind closed doors for further talks.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9310" NEWID="4397">
<DATE>12-MAR-1987 13:49:28.65</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;f0000&#31;reute
s f BC-UNITED-STATIONERS-INC   03-12 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>UNITED STATIONERS INC &lt;USTR> SETS DIVIDEND</TITLE>
<DATELINE>    DES PLAINES, Ill., March 12 -
    </DATELINE><BODY>Qtly dividend six cts vs six cts
    Pay April 15
    Record March 31
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9311" NEWID="4398">
<DATE>12-MAR-1987 13:49:48.25</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;f0001&#31;reute
s f BC-LINCOLN-NATIONAL-CORP   03-12 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>LINCOLN NATIONAL CORP &lt;LNC> SETS QUARTERLY</TITLE>
<DATELINE>    FORT WAYNE, Ind., March 12 -
    </DATELINE><BODY>Qtly div 54 cts vs 54 cts prior
    Pay May One
    Record April 10
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9312" NEWID="4399">
<DATE>12-MAR-1987 13:50:13.99</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;f0002&#31;reute
s f BC-PETRIE-STORES-CORP-&lt;P   03-12 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>PETRIE STORES CORP &lt;PST> SETS QUARTERLY</TITLE>
<DATELINE>    SECAUCUS, N.J., March 12 -
    </DATELINE><BODY>Qtly div 17-1/2 cts vs 17-1/2 cts prior
    Pay April 20
    Record April 2.
o
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9313" NEWID="4400">
<DATE>12-MAR-1987 13:52:57.94</DATE>
<TOPICS></TOPICS>
<PLACES><D>morocco</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>worldbank</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0009&#31;reute
d f BC-MOROCCO-SECURES-BULK   03-12 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>MOROCCO SECURES BULK OF EXTRA AID SOUGHT</TITLE>
<DATELINE>    PARIS, March 12 - </DATELINE><BODY>Morocco is likely to get an extra aid
package exceeding 100 mln Special Drawing Rights (126 mln dlrs)
in 1987 following a three-day Consultative Group meeting of
donors chaired by the World Bank, Moroccan Finance Minister
Mohamed Berada said.
    Berrada said most of the extra aid sought to complete high
priority investments in agriculture, education, and public
health had already been secured, and additional sums were
likely to emerge from forthcoming bilateral meetings with
donors.
    A World Bank statement said the Consultative Group meeting
attended by 15 donor countries and agencies noted with
satisfaction a marked improvement in Morocco's economic
performance and urged it to continue recent adjustment efforts.
    It added that the Group saw as realistic Morocco's
medium-term goal of restoring creditworthiness on financial
markets, and agreed to reconvene in a year to discuss Morocco's
five year development strategy for 1988-92, introduced in its
broad outlines at this week's meeting.
    Morocco reached an agreement here last week with the Paris
Club of western creditor governments to reschedule over 10
years the 900 mln dlrs of debt due by mid 1988. That followed
an agreement late last year to reschedule 1.8 billion dlrs of
commercial bank debt.
    Morocco's foreign debt currently totals 14 billion dlrs,
Berrada said, adding that Morocco intended to stop rescheduling
its debts, and pay them off instead.
    He told Reuters the forthcoming five-year development plan,
designed to avoid the negative effects of adjustment without
growth, could require further aid of 700 or 800 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9314" NEWID="4401">
<DATE>12-MAR-1987 13:53:06.02</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;f0010&#31;reute
w f BC-DESOTO-&lt;DSO>-SELLS-IN   03-12 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>DESOTO &lt;DSO> SELLS INDUSTRIAL CHEMICAL ASSETS</TITLE>
<DATELINE>    DES PLAINES, ILL., March 12 - </DATELINE><BODY>DeSoto Inc said it sold the
plant, inventory and certain other assets of some of its
industrial chemical operations to Plastic Specialities and
Technologies Inc, a privately-held company headquartered in
Parsippany, New Jersey.  Terms were not disclosed.
    Desoto's industrial chemical operations are based in Fort
Worth, Texas, and has annual sales of about 17 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9315" NEWID="4402">
<DATE>12-MAR-1987 13:53:42.83</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;f0012&#31;reute
r f BC-DATA-TAPES-ERASED-IN   03-12 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>DATA TAPES ERASED IN VW FRAUD, CHAIRMAN SAYS</TITLE>
<DATELINE>    FRANKFURT, March 12 - </DATELINE><BODY>Volkswagen AG &lt;VOWG.F> supervisory
board chairman Karl Gustaf Ratjen said entire data tapes had
been erased and complete programs altered in forged
transactions amounting to around 480 mln marks.
    "In this case a degree of criminal energy has been brought
into play which until now was unimaginable in a German company,"
he said in a radio interview.
    He could not completely rule out the possibility that
losses would exceed 500 mln marks, but said there were
currently no signs that they would be higher than the 480 mln
announced on Tuesday.
    Some 70 to 80 mln marks had probably been lost through
disregard for internal instructions, he added, but did not
elaborate. However, the remainder had definitely been lost
through criminal action and forgery in 1984.
    Ratjen said the affair would lead to consequences up to the
board room. He would recommend that those under suspicion of
being involved in criminal acts would have to go immediately.
    Those who had not exercised checking functions sufficiently
would also have to go.
    But Volkwagen management board chairman Carl Hahn was not
involved in the affair, he said.
    A Volkswagen spokesman said the company had made sufficient
provision in previous years to cover the losses from the fraud.
Its 1986 profit would, therefore, match 1985 world group net
profits of 595.6 mln marks.
    Volkwagen disclosed the existence of the fraud on Tuesday,
saying it was possible that documents about currency hedging
had been falsified and that those responsible may have come
from outside Volkswagen and may have been assisted by company
staff.
    Criminal complaints on suspicion of fraud, breach of trust
and forgery of documents had been filed, it added.
    The company spokesman said the supervisory board would meet
on April 9 to examine the precise extent of the losses and to
approve the year-end results.
    Ratjen said it was important for Volkwagen to maintain a
degree of "internal integrity" on account of its 200,000
employees, particularly as shop floor elections were coming up.
    "On the one hand one fights for every single mark of income.
And here is a case where hundreds of millions are being just
thrown away," he added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9316" NEWID="4403">
<DATE>12-MAR-1987 13:54:00.68</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>ecuador</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>imf</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f0014&#31;reute
r f BC-IMF,-DEVELOPMENT-BANK   03-12 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>IMF, DEVELOPMENT BANKS, TO ASSIST ECUADOR</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>It could be months before major
assistance is provided for Earthquake-stricken Ecuador,
although the International Monetary Fund and the development
banks have already taken the first steps, monetary sources and
U.S. officials said.
    They said the IMF had informed the Ecuadorean government
that it was prepared, under its emergency system, to provide
about 50 mln dlrs, or about 25 per cent of the country's quota
in the agency, but it is up to Ecuador to request the money.
    At the same time, the World Bank and the Inter-American
Development Bank have dispatched missions to the region hit by
last Thursday's quake to determine what the country's needs are
and how they can speed up disbursement of funds from programs
already approved.
    The World Bank estimates that of the over one billion dlrs
it has approved for Ecuador in recent years, some 277 mln dlrs
has yet to be disbursed and a portion of this could,
potentially, be made available.
    The bank said that the programs it has approved are for
rural development, agriculture, water and sewerage, electrical
power and others.
    If the assistance that is needed can be fit into these
general categories, the funds could be then provided for from
expedited disbursements
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9317" NEWID="4404">
<DATE>12-MAR-1987 13:57:22.97</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;f0024&#31;reute
r f BC-SAFEGUARD-HEALTH-&lt;SFG   03-12 0049</UNKNOWN>
<TEXT>&#2;
<TITLE>SAFEGUARD HEALTH &lt;SFGD> 4TH QTR LOSS</TITLE>
<DATELINE>    ANAHEIM, Calif., March 12 -
    </DATELINE><BODY>Shr loss 30 cts vs profit 12 cts
    Net loss 2,374,000 vs profit 970,000
    Revs 15.7 mln vs 13.4 mln
    Year
    Shr loss 13 cts vs profit 46 cts
    Net loss 1,054,000 vs profit 3,425,000
    Revs 61.8 mln vs 49.9 mln
    Note: Full name Safeguard Health Enterprises Inc.
    Current qtr and year figures include 2.9 mln dlr reserve
for estimated loss from proposed divestment of one-third of
existing 40 offices.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9318" NEWID="4405">
<DATE>12-MAR-1987 13:57:52.72</DATE>
<TOPICS><D>rubber</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>inro</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T
&#22;&#22;&#1;f0027&#31;reute
u f BC-RUBBER-TALKS-CHAIRMAN   03-12 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>RUBBER TALKS CHAIRMAN CITES SLIGHT PROGRESS</TITLE>
<DATELINE>    GENEVA, March 12 - </DATELINE><BODY>There has been slight progress towards
reaching a rubber pact, the chairman of a United Nations
conference on a new International Natural Rubber Agreeement,
INRA, Manaspas Xuto of Thailand, said.
    "There has been some slight progress but it is not the end
of the road yet," he said.
    The conference, which began Monday, is seen as the last
effort to adopt an accord to replace the current one which
expires in October. Some 40 producing and consuming countries
are taking part in the two-week meeting.
    Xuto said if the key outstanding issues are not resolved by
tomorrow he would hold weekend meetings.
    At the beginning of the conference, the fourth such meeting
in nearly two years, Xuto said it was imperative to settle
those issues this week so that technical drafting work can be
done next week.
    Conference sources said it is highly unlikely that
producers will accept a pact that will provide for any possible
downward adjustment of the floor price, as proposed by
consumers under certain circumstances.
    The sources said this means that any possible adjustment
would centre on the reference price, and the "may buy" (or "may
sell") and "must buy" (or "must sell") levels without changing the
"lower indicative price" (or floor price) of 150
Malaysian/Singapore cents a kilo in the present pact.
    The present five-day average of the indicator price is
around 192 Malaysian/Singapore cents.
    Consumers are seeking an adjustment of the reference price,
set in the current accord at 201.66 Malaysian/Singapore cents a
kilo, and of the "lower indicative price" if the buffer stock,
currently 360,000 tonnes, rises to 450,000 tonnes.
    Consumers want price reviews at 12-month intervals instead
of the 18 at present, and the price revision mechanism to
respond automatically to market trends.
    At present, if the market price has been above or below the
reference price for six months, the reference price is revised
by five pct or by an amount decided by the International
Natural Rubber Organisation council.
    Consumers say that, in these circumstances, the adjustment
be automatic at five pct or more.
    Producers have resisted reducing the role of the council in
the price adjustment procedure and have expressed concern that
changes proposed by consumers would weaken the present pact.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9319" NEWID="4406">
<DATE>12-MAR-1987 13:59:47.41</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0031&#31;reute
r f BC-CUMMINS-&lt;CUM>RECALLS   03-12 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>CUMMINS &lt;CUM>RECALLS WORKERS ON SIGNS OF UPTURN</TITLE>
<DATELINE>    COLUMBUS, Ind., March 12 - </DATELINE><BODY>Cummins Engine Co said it will
temporarily recall about 150 production workers at its
Columbus-area plants because it sees a moderate upturn in North
American demand for heavy-duty truck engines.
    The company said the recalls will begin March 30.
    Production rates for Cummins' heavy-duty truck engines have
increased about 10 pct over fourth-quarter levels and should
stay at these levels through the first half of 1987, Cummins
said.
    The company also reported some upswing in demand for its
components and service parts.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9320" NEWID="4407">
<DATE>12-MAR-1987 14:00:41.91</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f0033&#31;reute
u f BC-"BRITANNIA"-COIN-TO-S   03-12 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>"BRITANNIA" COIN TO SELL AT PREMIUM</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>The new British one ounce gold coin, the
"Britannia," will be priced on the basis of the gold price on the
day of purchase plus a "competitive premium," Treasury officials
said.
    Value added tax will be levied on all purchases by members
of the U.K. Public, as is currently the case with foreign
coins, although transactions between members of the London Gold
Market and all exports of the coins will be zero-rated. No
decision has yet been taken on the face value of the coins.
    Although a number of gold coins, especially the Canadian
Maple, have been issued elsewhere in an attempt to take the
place of the South African krugerrand, the British government
still feels that there is a gap in the market for a British one
ounce gold coin. The only British gold coin available at
present is the sovereign, which contains 0.2354 ounces of gold.
    Gold from South Africa or the Soviet Union will not be used
in the coin, officials said, adding that bullion would be
bought on the world gold market. But analysts said it would be
difficult to ascertain the origins of such purchases.
    No details are yet available on how many coins will be
issued or how much gold will be bought, but traders said that
the amounts involved would be unlikely to move the gold price.
    There were some enquiries on the "Britannia" from coin
dealers today, but value added tax would prove a major factor
in the success of the coin, with the 15 pct tax likely to put
off many investors, traders said.
    Some said that the "Britannia" had come too late, with the
Canadian Maple Leaf, the American Eagle and other gold coins
already well established.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9321" NEWID="4408">
<DATE>12-MAR-1987 14:01:28.80</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D><D>sweden</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0035&#31;reute
d f BC-CYTRX-&lt;CYTR>-UNIT-BUY   03-12 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>CYTRX &lt;CYTR> UNIT BUYS SWEDISH COMPANY</TITLE>
<DATELINE>    ATLANTA, March 12 - </DATELINE><BODY>CytRx Corp said its 60 pct owned CytRx
Biopool Ltd subsidiary has acquired Biopool AB of Umea, Sweden,
for undisclosed terms.
    It said former shareholders of Biopool AB own the remaining
40 pct in CytRx Biopool Ltd. Biopool AB develops cardiovascular
and fibrinolytic products for diagnostic applications.
    The company said CytRx Biopool is studying the possible
combination of CytRx Corp's RheothRx drug to reduce platelet
aggregation and viscosity in blood with Biopool AB's drug t-PA
for dissolving blood clots.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9322" NEWID="4409">
<DATE>12-MAR-1987 14:06:10.46</DATE>
<TOPICS><D>interest</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;f0048&#31;reute
f f BC-CANADA-91-DAY-T-BILLS   03-12 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CANADA 91-DAY T-BILLS AVERAGE 7.03 PCT, MAKING BANK RATE 7.28 PCT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9323" NEWID="4410">
<DATE>12-MAR-1987 14:08:05.94</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;f0052&#31;reute
r f BC-NORTH-AMERICAN-&lt;NAHL>   03-12 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>NORTH AMERICAN &lt;NAHL> SEES RECORD FOURTH QTR</TITLE>
<DATELINE>    EAST HARTFORD, Conn, March 12 - </DATELINE><BODY>North American Holding Corp
said it expects to have record fourth quarter earnings and for
sales to exceed 10 mln dlrs.
    For the fourth quarter ended March 30, 1986 the company
reported net income of 631,720 dlrs on sales of 5.2 mln dlrs.
    It also said it expects revenues for the year to exceed 30
mln dlrs. For fiscal 1986, North American reported a net loss
of 126,900 dlrs on sales of 12.8 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9324" NEWID="4411">
<DATE>12-MAR-1987 14:09:40.25</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;f0053&#31;reute
u f BC-INTERMEDICS   03-12 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>INVESTORS UP INTERMEDICS &lt;ITM> STAKE TO 16.8 PCT</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>A group of investment firms told the
Securities and Exchange Commission they raised their stake in
Intermedics Inc to 1,721,900 shares, or 16.8 pct of the total
outstanding, from 1,565,900 shares, or 15.2 pct.
    Bessemer Securities Corp, a New York investment firm,
Cilluffo Associates L.P., a New York investment partnership,
and related entities said they bought 156,000 Intermedics
common shares between February 24 and March 9 for 1.4 mln dlrs.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9325" NEWID="4412">
<DATE>12-MAR-1987 14:10:00.07</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;f0054&#31;reute
u f BC-WAL-MART-STORES-INC-&lt;   03-12 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>WAL-MART STORES INC &lt;WMT> RAISES QUARTERLY</TITLE>
<DATELINE>    BENTONVILLE, Ark., March 12 -
    </DATELINE><BODY>Qtly div six cts vs 4-1/4 cts prior
    Pay April 10
    Record March 23
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9326" NEWID="4413">
<DATE>12-MAR-1987 14:10:18.43</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f0055&#31;reute
f f BC-******S/P-DOWNGRADES   03-12 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>S/P DOWNGRADES FIRST INTERSTATE BANCORP'S 1.3 BILLION DLRS OF DEBT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9327" NEWID="4414">
<DATE>12-MAR-1987 14:11:02.42</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>lme</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f0056&#31;reute
d f BC-LME-CONSIDERING-CHANG   03-12 0128</UNKNOWN>
<TEXT>&#2;
<TITLE>LME CONSIDERING CHANGES TO CLEARING SYSTEM</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>A proposal the London Metal Exchange,
LME, change its new clearing system, due to start May 29, was
made today at a meeting of LME members and International
Commodities Clearing House, ICCH, representatives.
    Amalgamated Metal Trading Ltd, AMT, proposed that a daily
cash-cleared system common to all other markets should be
adopted, rather than the system currently planned whereby
prompt dates are settled when they mature.
    AMT claims the margin requirements for the latter will be
costly.
    Opposition to the proposal came mainly from trade and
industry representatives who, as traditional users of the
Exchange's hedging facilities, said a cash-cleared system would
be more costly for them.
    LME Board Chairman Jacques Lion said any major alterations
to the planned new clearing system would have to be referred to
the Securities and Investment Board, SIB, and this could be
time consuming, bearing in mind the May 29 start-up.
    There was also a risk of the Exchange losing its greatest
asset, its trade hedging business, he said.
    Lion accepted a proposal that, while clearing with the ICCH
continue as planned, details of AMT's cash clearing system be
circulated for consideration and discussion by LME Board,
Committee and members for possible introduction at a later
date.
    The LME also said that Japanese yen contracts will now be
excluded from clearing as they are not used widely enough to
warrant inclusion.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9328" NEWID="4415">
<DATE>12-MAR-1987 14:11:26.41</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f0057&#31;reute
f f BC-******S/P-AFFIRMS-W.R   03-12 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>S/P AFFIRMS W.R. GRACE AND CO'S 575 MLN DLRS OF DEBT AFTER ITS 4TH-QTR LOSS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9329" NEWID="4416">
<DATE>12-MAR-1987 14:12:54.37</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;f0061&#31;reute
r f BC-HOME-SHOPPING&lt;HSN>-MA   03-12 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>HOME SHOPPING&lt;HSN> MAKES OFFER FIT EURO DEMAND</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Home Shopping Network Inc announced it
agreed with underwriter Drexel Burnham Lambert Inc to amend its
recent filing for an offering of 400 mln dlrs of 15-year
convertible subordinated debentures in order to accommodate
demand from Europe.
    The firm said it now plans to offer 150 mln dlrs of
convertible subordinated debentures in the Eurodollar market.
    It will file an amended domestic registration statement for
the Eurodollar offering and reduce the size of the domestic
offering to 300 mln dlrs. Drexel Burnham Lambert International
Ltd is sole underwriter for the European issue.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9330" NEWID="4417">
<DATE>12-MAR-1987 14:16:37.73</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f0070&#31;reute
f f BC-******S/P-AFFIRMS-RES   03-12 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>S/P AFFIRMS RESORTS INTERNATIONAL INC'S 600 MLN DLRS OF DEBT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9331" NEWID="4418">
<DATE>12-MAR-1987 14:16:54.20</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0071&#31;reute
d f BC-NEW-YORK-LIFE-SETS-RE   03-12 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW YORK LIFE SETS REAL ESTATE INVESTMENTS</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>&lt;New York Life Insurance Co> said it
will invest up to 30 mln dlrs in properties purchased by
&lt;NYLIFE Realty Income Partners I L.P.>, a newly formed real
estate limited partnership.
    The partnership is co-sponsored by New York Life's NYLIFE
Realty Inc and a subsidiary of &lt;Linclay>, a national real
estate firm which has developed properties in 25 cities.
    A New York Life spokesman said the company's 30 mln dlr
commitment, along with projected investment by the partnership,
is expected to result in a total investment of 80 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9332" NEWID="4419">
<DATE>12-MAR-1987 14:21:59.49</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;f0075&#31;reute
d f BC-OPTROTECH-LTD-&lt;OPTKF>   03-12 0045</UNKNOWN>
<TEXT>&#2;
<TITLE>OPTROTECH LTD &lt;OPTKF> YEAR NET</TITLE>
<DATELINE>    BILLERICA, Mass., March 12 -
    </DATELINE><BODY>Shr 13 cts vs 50 cts
    Net 651,397 vs 2,602,120
    Revs 26.4 mln vs 21.6 mln
    NOTE: 1986 net includes gain 291,027 dlr gain from quantity
discount rebates on purchases of materials in prior years.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9333" NEWID="4420">
<DATE>12-MAR-1987 14:22:09.25</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;f0076&#31;reute
a f BC-NORTH-ATLANTIC-TECHNO   03-12 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>NORTH ATLANTIC TECHNOLOGIES &lt;NATT> 4TH QTR</TITLE>
<DATELINE>    MINNEAPOLIS, March 12 -
    </DATELINE><BODY>Shr loss 20 cts vs loss 14 cts
    Net loss 352,000 vs loss 248,000
    Revs 285,000 vs 681,000
    Year
    Shr loss 92 cts vs loss 49 cts
    Net loss 1,613,000 vs loss 842,000
    Revs 1,523,000 vs 2,557,000
    NOTE: Full name is North Atlantic Technologies Inc
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9334" NEWID="4421">
<DATE>12-MAR-1987 14:22:16.52</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0077&#31;reute
r f BC-E-SYSTEMS-&lt;ESY>-CHAIR   03-12 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>E-SYSTEMS &lt;ESY> CHAIRMAN TO RETIRE</TITLE>
<DATELINE>    DALLAS, March 12 - </DATELINE><BODY>E-Systems Inc said John W. Dixon will
retire April 21 as chairman and chief executive officer but
remain on the board as chairman emeritus.
    The company said president and chief operating officer
David R. Tacke will succeed Dixon as chairman and chief
executive and senior vice president E. Gene Keigger will become
president and chief operating officer.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9335" NEWID="4422">
<DATE>12-MAR-1987 14:23:21.44</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;f0080&#31;reute
d f BC-FARM-CREDIT-LOSS-PUT   03-12 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>FARM CREDIT LOSS PUT AT 900 MLN FIRST HALF 1987</TITLE>
<DATELINE>    WASHINGTON, MARCH 12 - </DATELINE><BODY>A member of the board which
regulates the Farm Credit System predicted the troubled farm
lender may lose about 900 mln dlrs in the first half of 1987,
hastening the need for a federal rescue this year.
    Speaking to the House subcommittee responsible for farm
credit issues, Farm Credit Administration (FCA) board member
Jim Billington said "My recommendation is that legislation
(aiding the system) must be moved prior to June, 30, 1987, or
it will be difficult to close the (farm credit system) books."
    Billington's loss prediction is gloomier than either the
system or its regulator had previously admitted.
    The system itself has so far predicted losses for all of
1987 will reach only 1.1 billion dlrs, down from 1.9 billion in
1986 and 2.7 billion in 1985.
    However, Billington said the system is losing in excess of
400 mln dlrs per quarter, implying total losses for 1987 of
more than 1.6 billion.
    Losses of that magnitude would exhaust the 1.4 billion dlrs
in capital surplus the system held at the end of 1986.
    The system also has 4.2 billion dlrs in capital held by its
member borrowers, called borrower stock, which theoretically
could be used as capital.
    Billington said by the end of 1987, more than 1.6 billion
dlrs of the 4.2 billion in borrower stock would be downgraded
in value because of the mounting losses.
    Chairman of the FCA board, Frank Naylor, urged that
Congress begin to consider legislation rescuing the system by
Easter and that a bill be completed by the fall.
    Chairman of the House subcommittee, Rep. Ed Jones,
(D-Tenn.) said today "the time has arrived to consider
assistance to save the system."
    The Senate Democratic leadership indicated last month that
it would begin drafting a bailout bill by Easter.
    FCA board members differed on whether a direct government
infusion of cash will be needed to rescue the system. FCA
chairman Naylor said a federal guarantee of both borrower stock
and system bonds held by investors might avoid the need to
provide "hard capital" to the system.
    However, Billington said "its not really that simple, in my
opinion," adding that government funds may be needed to rescue
the system.
    Neither regulator estimated how much money might be needed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9336" NEWID="4423">
<DATE>12-MAR-1987 14:25:36.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0086&#31;reute
r f BC-TELETIMER-INTERNATION   03-12 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>TELETIMER INTERNATIONAL INC &lt;TLTM> CLOSES ISSUE</TITLE>
<DATELINE>    BOCA RATON, Fla., March 12 - </DATELINE><BODY>Teletimer International Inc
said it successfully closed its new issue at the maximum
3,500,000 dlrs.
    Teletimer said it intends to offer a computerized
subscription energy management service that is delivered to
homes and businesses over cable television systems. Subscribers
will be charged an annual subscription fee, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9337" NEWID="4424">
<DATE>12-MAR-1987 14:29:08.27</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0091&#31;reute
w f BC-THERMWOOD-&lt;THM>-TRADE   03-12 0041</UNKNOWN>
<TEXT>&#2;
<TITLE>THERMWOOD &lt;THM> TRADES ON PACIFIC EXCHANGE</TITLE>
<DATELINE>    DALE, IND., March 12 - </DATELINE><BODY>Thermwood Corp said its common stock
has begun trading on the Pacific Stock Exchange under the
symbol "THM."
    In February, its stock began trading on the Boston Stock
Exchange.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9338" NEWID="4425">
<DATE>12-MAR-1987 14:30:38.87</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0097&#31;reute
r f BC-MONTEDISON,-OTHER-REF   03-12 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>MONTEDISON, OTHER REFINERIES TO SHUT FOR WORK</TITLE>
<AUTHOR>    By JO WINTERBOTTOM, Reuters</AUTHOR>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>Selm-Societa Energia Montedison is to
close its Priolo crude refining units from March 15th to March
28th for maintenance, a company spokesman said.
    Throughput at the refinery is currently estimated at
140-150,000 bpd, although total capacity is nearer 200,000 bpd.
    Several other Mediterranean refineries are currently
shutdown for maintenance, most of which were scheduled some
months ago. But industry sources said that shutdowns may have
been rearranged to avoid running negative-netback crude.
     Tighter availabilities of products as a result of the 
shutdowns in the Med is helping to keep products markets
bullish, particularly for March deliveries, oil traders said.
    Garrone's refinery at San Quirico (capacity 130,000 bpd) is
due to shutdown on March 14th for three weeks, and the
jointly-owned ISAB/Garrone refinery at Mellili, capacity
220,000 bpd, is due to start up around March 20-25th following
its closure for maintenance a month ago, a company spokesman
said.
    The Esso Italiana refineries at Augusta and Siracusa will
not be closing this spring, a spokesman for the company said.
    In France, the distillation unit at Societe Francaise de
BP's Lavera refinery has been closed for maintenance since
March 2, and is due to restart early April. Total capacity is
181,900 bpd. It is currently operating at around 50 pct
capacity, a company spokesman said.
    Shell Francaise's Berre l'Etang refinery will shut down in
early April until mid-June, a company spokesman said. Capacity
is around 150,000 bpd. Compagnie Francaise de Raffinage (CFR)
will close the visbreaker at its La Mede refinery in early
April, but would not affect crude throughput at the refinery, a
company spokesman said. Current capacity is 136,000 bbl/day.
    Despite current bullish sentiment in the Med, however,
traders noted that crude netbacks are beginning to look more
attractive, and most maintenance shutdowns should be finished
in two to three weeks.
    As a result, oil industry sources suggest that the
situation may ease by mid-April.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9339" NEWID="4426">
<DATE>12-MAR-1987 14:33:40.70</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;f0108&#31;reute
u f BC-FIRST-INTERSTATE-&lt;I>   03-12 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST INTERSTATE &lt;I> DEBT DOWNGRADED BY S/P</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Standard and Poor's Corp said it
downgraded First Interstate Bancorp's 1.3 billion dlrs of debt
because of higher levels of non-performing assets.
    S and P also cited net charge-offs, especially in real
estate, energy and consumer loans. However, the agency said
First Interstate has high liquidity and is less vulnerable to
Latin American credits than its peers.
    Cut were the company's senior debt to AA-minus from AA and
subordinated debt to A-plus from AA-minus. Long-term deposits
of several of the parent's banks were reduced to AA-minus from
AA but short-term deposit ratings were left at A-1-plus.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9340" NEWID="4427">
<DATE>12-MAR-1987 14:39:12.85</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;f0125&#31;reute
u f BC-W.R.-GRACE-&lt;GRA>-DEBT   03-12 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>W.R. GRACE &lt;GRA> DEBT AFFIRMED BY S/P</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Standard and Poor's Corp said it
affirmed the ratings on W.R. Grace and Co's 575 mln dlrs of
debt following its fourth-quarter 1986 loss of 560 mln dlrs.
    Affirmed were the company's BBB-minus senior debt, BB-plus
subordinated debt and A-3 commercial paper.
    S and P pointed out that the fourth-quarter loss resulted
from the write-off of nearly 600 mln dlrs in assets, especially
in agricultural chemicals and natural resources.
    Because that write-off had no effect on Grace's cash, S and
P affirmed the current ratings, noting that Grace intends to
sell its agricultural business.
    Proceeds from the sale of the agricultural segment could be
used to reduce Grace's debt, Standard and Poor's said.
    However, S and P said it is less clear whether Grace can
also extricate itself from the project debt from its phosphate
mining joint venture at Four Corners.
    Despite today's rating affirmation, S and P cautioned that
Grace has greater-than-usual vulnerability to rating change in
the next year or two.
    "Uncertainty abounds as to the firm's future ownership,
management and direction," the rating agency said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9341" NEWID="4428">
<DATE>12-MAR-1987 14:39:18.88</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0126&#31;reute
d f BC-&lt;DESIGNS-INC>-TO-MAKE   03-12 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;DESIGNS INC> TO MAKE SHARE OFFERING</TITLE>
<DATELINE>    NEWTON, Mass., March 12 - </DATELINE><BODY>Designs Inc said it intends to
make an initial public offering of common stock in late spring
or early summer, depending on market conditions.
    The company opoerates 27 retil clothing stores under the
name "Designs, exclusively Levi Strauss and Co" along the
Eastern Seaboard.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9342" NEWID="4429">
<DATE>12-MAR-1987 14:39:48.33</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>colombia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0128&#31;reute
r f BC-rebel-attacks-affect   03-12 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>ATTACKS AFFECT COLOMBIA'S OIL OUTLOOK-ECOPETROL</TITLE>
<DATELINE>    BOGOTA, March 12 - </DATELINE><BODY>Continuous rebel raids against oil
pipelines and foreign exploration camps endanger Colombia's
present oil bonanza, Franciso Chona, manager of the state-run
oil company Ecopetrol said.
    "It seems the subversion wants to end with our oil bonanza,"
he told reporters.
    He was speaking after a meeting with Defense Minister
Rafael Samudio, military chiefs and Mines and Energy Minister
Guillermo Perry to review the security situation in the light
of a recent upsurge of leftist guerrilla attacks in the
oil-rich Arauca region, bordering Venezuela.
    Ecopetrol chief of security, Retired General Carlos
Narvaez, said security measures would be stricter and that the
armed forces were closely collaborating but gave no details.
    Samudio said new plans had been designed and hoped they
would be effective. Samudio stressed that, despite the most
recent attacks, which cost more than four mln dlrs in damage,
the overall situation had improved compared with last December
when initial measures were taken to combat a wave of attacks.
    Repeated bombings of a vital pipeline from the Cano Limon
oilfield to the Caribbean then led to a loss of 51,000 barrels
of crude.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9343" NEWID="4430">
<DATE>12-MAR-1987 14:42:43.14</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;f0135&#31;reute
u f BC-RESORTS-INTL-&lt;RT.A>-D   03-12 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>RESORTS INTL &lt;RT.A> DEBT RATINGS AFFIRMED BY S/P</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Standard and Poor's Corp said it
affirmed the ratings on 600 mln dlrs of debt of Resorts
International Inc and Resorts International Financing Inc.
    Developer Donald Trump has agreed to pay 101 mln dlrs for
all of Resorts International's class B shares, representing 93
pct voting control, S and P noted. Trump said he would not
tender for the 5.7 mln shares of publicly held class A stock.
    The agreement is subject to approval by the New Jersey
Casino Control Commission. S and P pointed out that Resorts'
aggressive debt leverage is offset by the firm's extensive real
estate holdings in Atlantic City, N.J.
    Affirmed were the B-minus subordinated debt of Resorts
International and its financing unit.
    Standard and Poor's noted that Resorts International
remains highly leveraged, with significant near-term financing
requirements for the completion of its new casino/hotel in
Atlantic City, the Taj Mahal.
    While operations are profitable, the interest burden of
debt, along with unusual charges, net of gains, led to a 30.6
mln dlr net loss in 1986, S and P pointed out.
    Longer-term, Resorts is expected to benefit from a
strengthened competitive position, S and P added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9344" NEWID="4431">
<DATE>12-MAR-1987 14:43:30.73</DATE>
<TOPICS><D>copper</D></TOPICS>
<PLACES><D>peru</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C M
&#22;&#22;&#1;f0137&#31;reute
b f BC-/PERU'S-CENTROMIN-SAY   03-12 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>PERU'S CENTROMIN SAYS NO COPPER FORCE MAJEURE</TITLE>
<DATELINE>    LIMA, March 12 - </DATELINE><BODY>Peru's biggest state mining firm,
Centromin SA, said today there was no immediate force majeure
possibility on its copper shipments after guerrillas blew up a
railway line, interrupting train traffic from the Cobriza
copper mine to the Pacific coast.
    A Centromin spokesman said the managers of the mine at
Cobriza could always ship the the mineral by road to the coast
for export if the train line continued interrupted. Cobriza
produced the equivalent of around 40,600 fine tonnes of copper
last year.
    Maoist guerrillas using dynamite interrupted train traffic
two days ago when they blew up railway tracks and derailed a
train laden with minerals 225 km (135 miles) east of Lima at
Chacapalca, between the coast and Cobriza.
    An official at Minero Peru Comercial, Minpeco, Peru's state
minerals marketing firm, confirmed there had been no
declaration of force majeure on the shipments from Cobriza.
    Officials at National Train Company, Enafer, headquarters
in Lima, the Peruvian capital, declined to comment on when
train traffic would be restored to Cobriza.
    But an Enafer official, reached by telephone in the central
Andean city of Huancayo, near Chacapalca, said traffic could be
restored by Saturday.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9345" NEWID="4432">
<DATE>12-MAR-1987 14:43:40.62</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>iran</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0138&#31;reute
u f BC-BALDRIGE-WILL-NOT-OBJ   03-12 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>BALDRIGE WILL NOT OBJECT TO COMPUTERS FOR IRAN</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>Commerce Secretary Malcolm Baldrige
said he would not object to the sale of computers to Iran
because the technology was that of U.S.-designed personal
computers developed ten years ago.
    "We have no reason not to ship it," Baldrige told reporters
after a Senate Banking Committee hearing on export controls.
    Baldrige said the Defense Department's objection that the
computers would be used in newspaper production was not a
reason to bar the granting of an export license. "This is not a
reason for denying it on foreign policy grounds," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9346" NEWID="4433">
<DATE>12-MAR-1987 14:43:48.35</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0139&#31;reute
b f BC-******PARKER-DRILLING   03-12 0008</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>PARKER DRILLING SUSPENDS QUARTERLY DIVIDEND
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9347" NEWID="4434">
<DATE>12-MAR-1987 14:47:05.33</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0147&#31;reute
f f BC-******FIRST-GRANITE-B   03-12 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FIRST GRANITE BANCORP INC AGREES TO BE ACQUIRED BY MAGNA GROUP INC FOR STOCK
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9348" NEWID="4435">
<DATE>12-MAR-1987 14:48:53.01</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0153&#31;reute
d f BC-DIASONIWS-&lt;DNC>-SAYS   03-12 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>DIASONIWS &lt;DNC> SAYS IMAGING SYSTEM APPROVED</TITLE>
<DATELINE>    SOUTH SAN FRANCISCO, March 12 - </DATELINE><BODY>Diasonics Inc said the U.S.
Food and Drug Administration has given premarket approval to
&lt;Instrumentarium Corp> of Finland's ULF magnetic resonance
imaging system.
    Diasonics already distributes the system in several
countries and will distribute it in the U.S. as well.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9349" NEWID="4436">
<DATE>12-MAR-1987 14:50:04.04</DATE>
<TOPICS><D>veg-oil</D></TOPICS>
<PLACES><D>argentina</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f0161&#31;reute
r f BC-ARGENTINE-VEGETABLE-O   03-12 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>ARGENTINE VEGETABLE OILS SHIPMENTS IN JAN/NOV 1986</TITLE>
<DATELINE>    BUENOS AIRES, Mar 12 - </DATELINE><BODY>Argentine Vegetable oils shipments
during January/November 1986 totalled 1,693,951 tonnes, against
1,469,208 tonnes in the same 1985 period, the Argentine grain
board said.
    The breakdown was: cotton 4,000 (27,900), sunflower 929,847
(816,727), linseed 113,827 (132,954), groundnutseed 26,248
(25,508), soybean 603,335 (448,344), tung 8,402 (10,633), olive
2,234 (3,465), maize 6,058 (3,677), rapeseed nil (nil), grape
nil (nil), the board added.
    Shipments during November 1986 amounted to 138,257 tonnes,
against 109,250 tonnes in the same month of 1985.
    The breakdwon was, in tonnes, cotton nil (nil), sunflower
27,715 (43,064), linseed 5,228 (4,473), groundnutseed 819
(3,647), soybean 104,314 (56,901), tung 20 (nil), olive 161
(858), maize nil (307), rapeseed nil (nil), grape nil (nil),
the board said.
    The ten principal destinations during January/November
1986, with comparative figures for the same 1985 period in
brackets, were, in tonnes:
    Holland 201,660 (204,391), Iran 182,042 (181,228), Soviet
Union 163,150 (266,389),Egypt 158,119 (159,350), Algeria
116,330 (11,492), Brazil 101,116 (59,430) , South Africa 94,700
(101,062) , Cuba 89,957 (98,740) , United States 80,109 (nil),
India 67,182 (17,403), the board added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9350" NEWID="4437">
<DATE>12-MAR-1987 14:50:17.56</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;f0163&#31;reute
r f BC-PARKER-DRILLING-&lt;PKD>   03-12 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>PARKER DRILLING &lt;PKD> SUSPENDS PAYOUT</TITLE>
<DATELINE>    TULSA, Okla., March 12 - </DATELINE><BODY>Parker Drilling Co said its board
of directors voted to suspend the payment of dividends to
shareholders.
    Parker Drilling said it has been paying a quarterly
dividend of one ct a share of common stock.
    The company said it expects to save 1.3 mln dlrs a year
through the dividend suspension.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9351" NEWID="4438">
<DATE>12-MAR-1987 14:50:31.13</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;f0165&#31;reute
r f BC-EQK-REALTY-INVESTORS   03-12 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>EQK REALTY INVESTORS &lt;EKR> 4TH QTR NET</TITLE>
<DATELINE>    BALA CYNWYD, Pa., March 12 -
    </DATELINE><BODY>Shr nine cts vs 22 cts
    Net 700,000 vs 2,200,000
    Revs 5,400,000 vs 5,700,000
    Avg shrs 7,589,344 vs 10.1 mln
    12 mths
    Shr 43 cts
    Net 3,500,000
    Revs 21.6 mln
    NOTE: 12 mth figures not available for 1985 since company
started operations March 31, 1985.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9352" NEWID="4439">
<DATE>12-MAR-1987 14:50:34.87</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;f0166&#31;reute
s f BC-MASCO-CORP-&lt;MAS>-REGU   03-12 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>MASCO CORP &lt;MAS> REGULAR DIVIDEND SET</TITLE>
<DATELINE>    TAYLOR, MICH., March 12 -
    </DATELINE><BODY>Qtly div nine cts vs nine cts previously
    Pay May 11
    Record April 17
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9353" NEWID="4440">
<DATE>12-MAR-1987 14:50:39.69</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;f0167&#31;reute
s f BC-EQK-REALTY-INVESTORS   03-12 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>EQK REALTY INVESTORS I &lt;EKR> SETS PAYOUT</TITLE>
<DATELINE>    BALA CYNWYD, Pa., March 12 -
    </DATELINE><BODY>Qtrly div 41.5 cts vs 41.5 cts prior
    Pay July 29
    Record June 15
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9354" NEWID="4441">
<DATE>12-MAR-1987 14:53:04.64</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f0169&#31;reute
u f BC-U.S.-FARM-CREDIT-LOSS   03-12 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. FARM CREDIT LOSS PUT AT 900 MLN IN 1ST HALF</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>A member of the board which
regulates the Farm Credit System predicted the troubled farm
lender may lose about 900 mln dlrs in the first half of 1987,
hastening the need for a federal rescue this year.
    Speaking to the House subcommittee responsible for farm
credit issues, Farm Credit Administration (FCA) board member
Jim Billington said "My recommendation is that legislation
(aiding the system) must be moved prior to June, 30, 1987, or
it will be difficult to close the (farm credit system) books."
    Billington's loss prediction is gloomier than either the
system or its regulator had previously admitted.
    The system itself has so far predicted losses for all of
1987 will reach only 1.1 billion dlrs, down from 1.9 billion in
1986 and 2.7 billion in 1985.
    However, Billington said the system is losing in excess of
400 mln dlrs per quarter, implying total losses for 1987 of
more than 1.6 billion.
    Losses of that magnitude would exhaust the 1.4 billion dlrs
in capital surplus the system held at the end of 1986.
    The system also has 4.2 billion dlrs in capital held by its
member borrowers, called borrower stock, which theoretically
could be used as capital.
    Billington said by the end of 1987, more than 1.6 billion
dlrs of the 4.2 billion in borrower stock would be downgraded
in value because of the mounting losses.
    Chairman of the FCA board, Frank Naylor, urged that
Congress begin to consider legislation rescuing the system by
Easter and that a bill be completed by the fall.
    Chairman of the House subcommittee, Rep. Ed Jones,
(D-Tenn.) said today "the time has arrived to consider
assistance to save the system."
    The Senate Democratic leadership indicated last month that
it would begin drafting a bailout bill by Easter.
    FCA board members differed on whether a direct government
infusion of cash will be needed to rescue the system.
    FCA chairman Naylor said a federal guarantee of both
borrower stock and system bonds held by investors might avoid
the need to provide "hard capital" to the system.
    However, Billington said "its not really that simple, in my
opinion," adding that government funds may be needed to rescue
the system.
    Neither regulator estimated how much money might be needed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9355" NEWID="4442">
<DATE>12-MAR-1987 14:57:54.11</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0177&#31;reute
u f BC-AMERICAN-CYANAMID-TO   03-12 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN CYANAMID TO SET UP PLANT IN DUNKIRK</TITLE>
<DATELINE>    PARIS, March 12 - </DATELINE><BODY>&lt;American Cyanamid Corp> is to set up a
herbicide production plant in the recently-created Dunkirk
enterprise zone, an official for the Dunkirk port authority
said.
    He told Reuters the announcement was made by Industry
Minister Alain Madelin during a visit to the zone today. The
plans involve investment of around 70 mln francs.
    The enterprise zones, created on the sites of naval
shipyards closed down last year and which also include zones at
La Ciotat and La Seyne, provide for exemption from corporate
taxes for 10 years and other incentives.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9356" NEWID="4443">
<DATE>12-MAR-1987 14:58:35.94</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;f0178&#31;reute
r f BC-macmillan-bloedel   03-12 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>MACMILLAN BLOEDEL &lt;MMBLF> STOCK UP SHARPLY</TITLE>
<DATELINE>    VANCOUVER, British Columbia, March 12 - </DATELINE><BODY>MacMillan Bloedel
Ltd's share price rose 4-1/2 dlrs to 79-1/4 after climbing by
as much as 5-1/4 dlrs in trading earlier on the Toronto Stock
Exchange.
    Company officials were not immediately available to comment
on the steep gain.
    Forestry analyst Rick Sales at Vancouver, British
Columbia-based Odlum Brown Ltd said the strength partly
reflected the buoyant forest products industry, the company's
proposed three-for-one stock split and strong 1987 earnings
prospects.
    He predicted MacMillan Bloedel would earn eight dlrs a
share this year. The company's 1986 net profit after a 1.45 dlr
extraordinary gain rose to 4.66 dlrs a share from 54 cts a
share in 1985 due to lower costs and stronger markets.
    Sales added that investors might also be expecting "a major
dividend increase." The company paid 75 cts a share in regular
common stock dividends last year.
    MacMillan Bloedel's 49 pct-owner &lt;Noranda Inc> "needs cash
and they do have people on (MacMillan's) board of directors,"
said Sales.
    Noranda said earlier this week it planned a public share
offer in its Noranda Forest Inc unit, which holds Noranda's
stake in MacMillan Bloedel.
    Sales discounted previous speculation that Noranda might
try to sell its stake in MacMillan.
    Noranda would rather probably like to raise its stake,
Sales said, although he added such a move could meet opposition
from the British Columbia government, which limited
Toronto-based Noranda to a minority stake in its 1981 takeover
bid for MacMillan Bloedel.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9357" NEWID="4444">
<DATE>12-MAR-1987 14:59:06.35</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D><D>usa</D><D>argentina</D><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T
&#22;&#22;&#1;f0179&#31;reute
u f BC-FRENCH-PRODUCERS-SAY   03-12 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH FARMERS SAY U.S. SUBSIDISES MORE THAN EC</TITLE>
<DATELINE>    PARIS, March 12 - </DATELINE><BODY>The United States subsidises its
agricultural industry much more than the European Community,
according to an internal USDA report, Marcel Cazale, President
of the French Maize Producers' Association (AGPM), said.
    He told reporters that according to what he described as a
"confidential" report prepared by the USDA which he had seen, the
US took the leading place regarding agricultural subsidies,
ahead of the EC.
    Cazale said according to the report, Argentina and
Australia were the only countries not to subsidise their
agriculture at all, or only by a small amount.
    Cazale said in Argentina subsidies were granted for
exports, but for a very small amount, while in Australia
subsidies were also only for exports, amounting to 15 to 30
pct.
    But Cazale said Australian agriculture received disguised
aid to the extent that fuel and fertilisers benefited from tax
reductions, and transport, electricity and telephones in the
sector had special tariffs. He did not elaborate.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9358" NEWID="4445">
<DATE>12-MAR-1987 14:59:26.82</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0181&#31;reute
f f BC-SUN-RAISES-CRUDE-POST   03-12 0012</UNKNOWN>
<TEXT TYPE="UNPROC">&#2;
SUN RAISES CRUDE POSTINGS 50 CTS, EFFECTIVE TODAY, WTI TO 17.50
dlrs/bbl
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9359" NEWID="4446">
<DATE>12-MAR-1987 14:59:56.13</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;f0183&#31;reute
s f BC-IPCO-CORP-&lt;IHS>-SETS   03-12 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>IPCO CORP &lt;IHS> SETS REGULAR PAYOUT</TITLE>
<DATELINE>    WHITE PLAINS, N.Y., March 12 -
    </DATELINE><BODY>Qtrly div nine cts vs nine cts prior
    Pay May 1
    Record April 9
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9360" NEWID="4447">
<DATE>12-MAR-1987 15:00:28.53</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;f0185&#31;reute
u f BC-FIRST-GRANITE-&lt;FGBI>   03-12 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST GRANITE &lt;FGBI> AGREES TO BE ACQUIRED</TITLE>
<DATELINE>    GRANITE CITY, ILL., March 12 - </DATELINE><BODY>First Granite Bancorp Inc
said it agreed in principle to become a wholly owned subsidiary
of Magna Group Inc &lt;MAGI>.
    Under terms of the agreement, First Granite shareholders
will receive 2.175 shares of Magna for each First Granite share
held. First Granite shareholders will be asked to approve the
tranaction in late summer.
    First Granite, which has 675,000 shares outstanding, as of
Dec 31, 1986 had assets of 186.5 mln dlrs. It owns First
Granite City National Bank and Colonial Bank of Granite City,
Ill.
    Magna Groups as of Dec 31, 1986 had assets of 1.47 billion
dlrs. It owns 13 banks, a data services company, a mortgage
company and a trust company, serving St. Louis as well as
Springfield, Centralia and Decatur, Ill.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9361" NEWID="4448">
<DATE>12-MAR-1987 15:01:22.54</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0187&#31;reute
r f BC-SHAREDATA-&lt;SDIC>-TO-G   03-12 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>SHAREDATA &lt;SDIC> TO GET FINANCING</TITLE>
<DATELINE>    CHANDLER, Ariz., March 12 - </DATELINE><BODY>Sharedata Inc said it signed a
letter of intent with an investment banking firm for financing
up to 2,500,000 dlrs.
    In return, the investment banking firm will be entitled to
name a member of Sharedata's board of directors, the company
said. It added it must seek the authority of its shareholders
for a one-for-four reverse split of its common stock.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9362" NEWID="4449">
<DATE>12-MAR-1987 15:06:47.23</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E RM A
&#22;&#22;&#1;f0201&#31;reute
f f BC-cibc   03-12 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CANADIAN IMPERIAL BANK OF COMMERCE CUTS PRIME RATE TO 8.75 PCT FROM 9.25 - TOMORROW
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9363" NEWID="4450">
<DATE>12-MAR-1987 15:08:50.83</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0205&#31;reute
r f BC-PROPOSED-OFFERINGS   03-12 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>PROPOSED OFFERINGS RECENTLY FILED WITH THE SEC</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>The following proposed securities
offerings were filed recently with the Securities and Exchange
Commission:
    Caterpillar Financial Services Corp, subsidiary of
Caterpillar Inc &lt;CAT> - Shelf offering of up to 300 mln dlrs of
debt securities, including debentures and notes, through
underwriters that may include Goldman, Sachs and Co.
    PacifiCorp &lt;PPW> - Shelf offering of up to six mln shares
of no par serial preferred stock with a total liquidation
preference of 150 mln dlrs.
    Hadson Corp &lt;HADS> - Offering of 3.75 mln shares of common
stock through Shearson Lehman Brothers Inc and PaineWebber Inc.
    Hydrogen Power Inc - Initial public offering of three mln
shares of Class B common stock, with a minimum of two mln
shares at five dlrs each needed to be sold.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9364" NEWID="4451">
<DATE>12-MAR-1987 15:10:01.79</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;f0210&#31;reute
h f BC-THERMWOOD-CORP-&lt;THM>   03-12 0049</UNKNOWN>
<TEXT>&#2;
<TITLE>THERMWOOD CORP &lt;THM> 2ND QTR JAN 31 NET</TITLE>
<DATELINE>    DALE, IND., March 12 -
    </DATELINE><BODY>Shr three cts vs three cts
    Net 165,798 vs 143,872
    Sales 1,787,561 vs 1,072,686
    Six mths
    Shr four cts vs four cts
    Net 175,928 vs 191,310
    Sales 3,137,695 vs 2,723,557
    Avg shrs 4,862,046 vs 4,722,150
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9365" NEWID="4452">
<DATE>12-MAR-1987 15:10:16.09</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;f0212&#31;reute
d f BC-PERINI-INVESTMENT-PRO   03-12 0027</UNKNOWN>
<TEXT>&#2;
<TITLE>PERINI INVESTMENT PROPERTIES &lt;PNV> RAISES PAYOUT</TITLE>
<DATELINE>    FRAMINGHAM, Mass., March 12 -
    </DATELINE><BODY>Qtly div 15 cts vs 12 cts in prior qtr
    Payable June 25
    Record May 28
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9366" NEWID="4453">
<DATE>12-MAR-1987 15:11:44.63</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;f0217&#31;reute
u f BC-SUN-&lt;SUN>-RAISES-CRUD   03-12 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>SUN &lt;SUN> RAISES CRUDE POSTINGS 50 CTS</TITLE>
<DATELINE>    New York, March 12 - </DATELINE><BODY>Sun Co said it raised the contract
price it will pay for crude oil 50 cts a barrel, effective
today.
    The increase brings Sun's posted price for the West Texas
Intermediate and West Texas Sour grades to 17.50 dlrs/bbl. The
Light Louisiana Sweet grade was also raised 50 cts to 17.85
dlrs/bbl.
    Sun Co last changed its crude postings on March 4.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9367" NEWID="4454">
<DATE>12-MAR-1987 15:16:52.08</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;f0235&#31;reute
r f BC-PETROLEUM-AND-RESOURC   03-12 0035</UNKNOWN>
<TEXT>&#2;
<TITLE>PETROLEUM AND RESOURCES CORP &lt;PEO> DIVIDEND</TITLE>
<DATELINE>    NEW YORK, March 12 -
    </DATELINE><BODY>Interim income dividend 20 cts. Last paid 1.14 dlrs
February 27, including capital gains of 50 cts.
    Pyable April 20
    Record April eight
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9368" NEWID="4455">
<DATE>12-MAR-1987 15:17:34.85</DATE>
<TOPICS><D>interest</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;f0239&#31;reute
f f BC-******royal-bank-of-c   03-12 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>ROYAL BANK OF CANADA LOWERS PRIME RATE TO 8-3/4 PCT, DOWN 1/2
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9369" NEWID="4456">
<DATE>12-MAR-1987 15:18:08.67</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0242&#31;reute
d f BC-U.K.-GOVERNMENT-ISSUE   03-12 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. GOVERNMENT ISSUES INSIDER DEALING SUMMONS</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>The Department of Trade and Industry,
DTI, has issued insider dealing charges against a former
employee of British and Commonwealth Shipping Co Plc &lt;BCOM.L>,
a DTI statement said.
    DTI is charging Ronald Richard Jenkins, until recently
employed by British and Commonwealth's subsidiary Cayzer Irvine
and Co Ltd. He is to appear April 27 in a London court.
    The summons is the second insider dealing prosecution
launched by the government under recent legislation.
    The charges allege two insider dealing offences in
securities of B and C and &lt;Steel Brothers Holdings Plc>.
    A DTI spokesman said plans to prosecute follow a probe into
the matter since mid-December by a lawyer and a London Stock
Exchange official who were officially appointed by the DTI as
inspectors.
    In November, B and C said an unnamed employee had resigned
after he was discovered buying shares in Steel Brothers just
before B and C announced an agreed bid for the 55 pct of Steel
which it did not already own.
    The attempted trade, which was subsequently cancelled,
covered 2,500 Steel shares purchase at 595p compared with a bid
price at 630p.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9370" NEWID="4457">
<DATE>12-MAR-1987 15:20:49.21</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;f0259&#31;reute
d f BC-NEW-LINE-CINEMA-CORP   03-12 0046</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW LINE CINEMA CORP &lt;NLN> 4TH QTR NET</TITLE>
<DATELINE>    NEW YORK, March 12 -
    </DATELINE><BODY>Shr 11 cts vs nine cts
    Net 677,498 vs 461,485
    Revs 6,271,010 vs 5,135,729
    Year
    Shr 81 cts vs 20 cts
    Net 4,406,065 vs 973,967
    Revs 26.5 mln vs 14.1 mln
    Avg shrs 5,457,339 vs 4,978,965
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9371" NEWID="4458">
<DATE>12-MAR-1987 15:21:29.90</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E A
&#22;&#22;&#1;f0263&#31;reute
u f BC-OTTAWA-SEEKS-EXPLANAT   03-12 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>OTTAWA SEEKS EXPLANATION OF CREDIT CARD RATES</TITLE>
<DATELINE>    OTTAWA, March 12 - </DATELINE><BODY>Minister of State for Finance Tom Hockin
said he has asked the Canadian Bankers Association, an industry
lobby group, for an explanation of the level of credit card
interest rates.
    Hockin said he hopes to here the association's response on
the "important" issue soon. Hockin was responding to questions
in the House of Commons about why credit card rates, which run
as high as 28 pct per year, remain high when other rates are
falling.
    Today, the Canadian bank rate fell to 7.28 pct from 7.54
pct last week and the Canadian Imperial Bank of Commerce cut
its prime rate, effective tomorrow, to 8.75 pct from 9.25 pct.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9372" NEWID="4459">
<DATE>12-MAR-1987 15:21:47.15</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;f0266&#31;reute
s f BC-IPCO-CORP-&lt;IHS>-REGUL   03-12 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>IPCO CORP &lt;IHS> REGULAR DIVIDEND</TITLE>
<DATELINE>    WHITE PLAINS, N.Y., March 12 -
    </DATELINE><BODY>Qtly div nine cts vs nine cts in prior qtr
    Payable May one
    Record Apreil nine
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9373" NEWID="4460">
<DATE>12-MAR-1987 15:23:09.85</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f0272&#31;reute
b f BC-asamera   03-12 0010</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>ASAMERA INC YEAR OPER SHR LOSS 48 CTS VS PROFIT 50 CTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9374" NEWID="4461">
<DATE>12-MAR-1987 15:23:48.75</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0274&#31;reute
u f AM-PAINEWEBBER-&lt;PWJ>-BRO   03-12 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>PAINEWEBBER &lt;PWJ> BROKER INDICTED IN SCHEME</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>A former broker at PaineWebber Inc was
charged by a federal grand jury with involvement in a 700,000
dlr money-laundering scheme, according to indictment papers.
    Gary Eder, 41, a former vice-president at PaineWebber, was
charged with conspiracy and falsifying brokerage records in the
two-count indictment.
    According to the indictment, Eder produced more brokerage
commissions than any other broker at PaineWebber, and was its
most highly-paid broker between 1982-86.
    Eder is charged with conspiring with unnamed supervisors at
PaineWebber to prevent the filing of Currency Transaction
Reports with the Internal Revenue Service. Federal law requires
that reports be filed with the IRS for any single cash
transaction in one day of more than 10,000 dlrs.
    Asked about the charges, a Painewebber spokeswoman said the
company had not seen the indictment and had no comment. She
said Eder was suspended January 22 and resigned from the firm
on february 17.
    David Spears, the federal prosecutor in charge of the case,
said Eder received cash from individual customers in amounts
ranging up to 70,000 dlrs at a time but avoided filing reports
by depositing the cash into the customers' accounts in amounts
just under 10,000 dlrs on several different days.
    If convicted, Eder could receive a maximum jail term of ten
years and 260,000 dlrs in fines.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9375" NEWID="4462">
<DATE>12-MAR-1987 15:25:21.19</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0280&#31;reute
b f BC-******DIAMOND-SHAMROC   03-12 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>DIAMOND SHAMROCK RAISED CRUDE BY 50 CTS/BBL TODAY. WTI UP TO 17.50 DLRS.
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9376" NEWID="4463">
<DATE>12-MAR-1987 15:27:50.85</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;f0294&#31;reute
f f BC-******WHITE-HOUSE-ASK   03-12 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>WHITE HOUSE ASKS CONGRESS TO REFLECT COST OF U.S. LOAN SUBSIDIES IN BUDGET
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9377" NEWID="4464">
<DATE>12-MAR-1987 15:28:28.19</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;f0295&#31;reute
r f BC-ESSEX-CHEMICAL-&lt;ESX>   03-12 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>ESSEX CHEMICAL &lt;ESX> TO SELL CONVERTIBLE DEBT</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Essex Chemical Corp said it filed with
the Securities and Exchange Commission a registration statement
covering a 60 mln dlr issue of convertivble subordinated
debentures due 2012.
    Proceeds will be used to redeem the company's outstanding
11-3/8 pct subordinated debentures due 1998 and repay all long
and short-term notes payable to banks, as well as for working
capital, Essex Chemical said.
    The company named Thomson McKinnon Securities Inc as lead
manager and PaineWebber Inc as co-manager of the offering.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9378" NEWID="4465">
<DATE>12-MAR-1987 15:28:45.15</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;f0297&#31;reute
u f BC-ALLEGHNEY-INTERNATION   03-12 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>ALLEGHNEY INTERNATIONAL &lt;AG> FACES ADDED COUNT</TITLE>
<DATELINE>    PITTSBURGH, March 12 - </DATELINE><BODY>Alleghney International Inc said the
plaintiffs in the existing lawsuits opposing its sale requested
an amendment to their complaint to include a class action
count.
    Alleghney said the suit, filed in the U.S. District Court
for the Western District of Pennsylvania, was aimed at blocking
the sale of Alleghney to an affiliate of First Boston Inc.
    Allegheney said the additional count sought by the
plaintiffs alleges the price to be offered for AI's common
stock, 24.60 dlrs, is grossly unfair and one the purposes of
the proposed sale is to absolve the individual defendants of
liability in the lawsuit.
     The additional count among other forms of relief, requests
an injunction against the defendants from taking any steps to
accomplish the proposed sale, Alleghney said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9379" NEWID="4466">
<DATE>12-MAR-1987 15:29:51.14</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0302&#31;reute
f f BC-******PHILLIPS-RAISES   03-12 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>PHILLIPS RAISES CRUDE POSTINGS 50 CTS EFFECTIVE TODAY, WTI TO 17.50 dlrs/bbl
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9380" NEWID="4467">
<DATE>12-MAR-1987 15:31:15.69</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;f0306&#31;reute
u f BC-U.S.-SEISMIC-CREW-COU   03-12 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. SEISMIC CREW COUNT DROPS 6 PCT IN FEBRUARY</TITLE>
<DATELINE>    TULSA, Okla, March 12 - </DATELINE><BODY>The number of seismic crews
searching for oil and gas in the United States dropped by nine
to a total of 151 crews, a decrease of six pct from January,
the Society of Exploration Geophysicists said.
    The February total represented a 49 pct decrease from
February 1986.
    Worldwide, the association's monthly survey showed that
seismic exploration for oil and gas increased to 395 in
February, up three from the month before. Africa added three
seismic crews, the Middle East increased by two and the Far
East added one while reductions were reported in Central and
South America, Europe and the United States.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9381" NEWID="4468">
<DATE>12-MAR-1987 15:31:43.49</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;f0308&#31;reute
s f BC-BULL-AND-BEAR-EQUITY   03-12 0025</UNKNOWN>
<TEXT TYPE="UNPROC">&#2;
BULL AND BEAR EQUITY INCOME FUND &lt;BULAX> DIV
    NEW YORK, March 12 
    Qtly div eight cts vs eight cts prior
    Payable March 31
    Record March 18
 Reuter
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9382" NEWID="4469">
<DATE>12-MAR-1987 15:34:23.86</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0313&#31;reute
u f AM-PERLE-2NDLD-***URGENT   03-12 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>PERLE QUITS AS PENTAGON ARMS CONTROL EXPERT</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>Assistant Defense Secretary Richard
Perle resigned to complete work on a novel and said he was
confident the United States and Soviet Union were headed for a
verifiable arms control agreement.
    Perle, 45, one of the most outspoken and controversial
critics in the Reagan administration of past superpower weapons
treaties, told reporters he would continue to do consulting
work for the government on arms control.
    "I'm leaving in order to do other things, including finish
negotiations (with publishers) on my novel. I also plan to do
some other writing," said Perle.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9383" NEWID="4470">
<DATE>12-MAR-1987 15:34:34.08</DATE>
<TOPICS><D>cocoa</D></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0314&#31;reute
u f BC-PESSIMISM-MOUNTS-OVER   03-12 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>PESSIMISM MOUNTS OVER BAHIAN TEMPORAO COCOA CROP</TITLE>
<AUTHOR>    By Richard Jarvie, Reuters</AUTHOR>
<DATELINE>    RIO DE JANEIRO, March 12 - </DATELINE><BODY>Pessimism over the effects of a
prolonged dry spell on the coming Bahian temporao cocoa crop is
rising with trade forecasts generally in the 2.0 mln to 2.5 mln
bag range against 2.5 mln to 3.0 mln a fortnight ago.
    Trade sources told Reuters from the state capital of
Salvador that despite scattered rains since mid-February, which
broke a six week drought, plantations have not picked up as
hoped and very little cocoa is expected to be gathered in the
first three months of the May/September crop.
    The sources said arrivals from May through July might only
reach around 600,000 bags whereas in normal years a figure of
1.0 mln to 1.5 mln bags might be expected.
    Arrivals from then should start to pick up sharply as pods
from current flowering are gathered. However, the sources noted
a late temporao is always more susceptible to pod rot, which
flourishes if conditions turn cold and humid, and which is more
likely from late July on.
    This year's crop is doubly susceptible because poor prices
mean farmers were not encouraged to invest in fertilisers and
insecticides and are also unlikely to treat against pod rot.
    A severe attack of pod rot can cause the loss of over
500,000 bags in a very short period, one source said.
    Because of the increased exposure to pod rot damage,
estimates of the final outcome of the temporao are extremely
vulnerable and production could easily drop to below the 2.0
mln bag mark if the disease hits.
    Although flowering was good following the start of the
rains, pod setting was not up to expectations, possibly because
the drought had caused a drop in the insect population which
pollinates flowers, the sources said.
    However, reports from farms indicate moisture levels are
now generally back to near normal levels and that current
flowering and pod setting is good, which should result in
mature fruit from August through September.
    The sources said they expect no break in the harvesting of
beans between the end of the temporao and the beginning of the
main crop, which officially starts on October 1.
    "The cut-off date is completely artificial. If things go
well from now on we should see heavy harvesting without a break
from August through November or even December," one said.
    If predictions of a 2.0 to 2.5 mln bag temporao prove
accurate this would be below the 2.7 mln bag average for the
past 10 years. The last poor temporao was in 1984 when
prolonged drought and later pod rot cut production to 1.79 mln
bags, the lowest since 1974.
    Good growing conditions the following year produced a
temporao of 3.12 mln bags, just below the 1983 3.17 mln bag
record, while last year's output, which also suffered some
drought damage, was 2.77 mln bags.
    Figures for the coming temporao might be distorted upwards
by the inclusion of undeclared current main crop beans.
    The sources said large quantities of beans are believed to
have been undeclared from this year's record total harvest and
they were unsure how much of this would be unregistered by the
end of the official crop year on April 30.
    Recent official arrivals figures have been swollen by the
inclusion of beans which had been delivered previously to port
warehouses but not declared.
    Because of the high turnover of beans this year,
significant amounts have deteriorated because they were stored
too long at the back of warehouses. Some of these are expected
to be held for mixing in with early temporao arrivals.
    With official arrivals figures for the 1986/87 temporao and
main crops totalling over 6.1 mln bags, and over seven weeks
still to go to the end of the year, the total outturn should be
at least a record 6.5 mln bags if all production is declared,
the sources said.
    This would compare with the previous record set last year
of 6.03 mln.
    However, there is no way of telling how many current crop
beans will be declared after the May 1 start of the temporao
and thus the true size of the 1986/87 harvest may never be
officially registered.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9384" NEWID="4471">
<DATE>12-MAR-1987 15:34:46.25</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;f0315&#31;reute
r f BC-ANHEUSER-BUSCH-&lt;BUD>   03-12 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>ANHEUSER-BUSCH &lt;BUD> DEBENTURES ISSUED</TITLE>
<DATELINE>    ST. LOUIS, March 12 - </DATELINE><BODY>Anheuser-Busch Cos Inc said it will
issue 150 mln dlrs in principal amount of 8-1/2 pct sinking
fund debentures due March 1, 2017.
    It said the offering will be through an underwriting
syndicate managed by Dillon, Read and Co Inc. They debentures
will be offered at 99.0 pct of the face amount to yield 8.59
pct to maturity.
    It said the debentures are being issued under a previously
announced shelf registration.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9385" NEWID="4472">
<DATE>12-MAR-1987 15:35:25.62</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;f0316&#31;reute
u f BC-ROSE'S-STORES-INC-&lt;RS   03-12 0043</UNKNOWN>
<TEXT>&#2;
<TITLE>ROSE'S STORES INC &lt;RSTO> 4TH QTR JAN 28</TITLE>
<DATELINE>    HENDERSON, N.C., march 12 -
    </DATELINE><BODY>Shr 37 cts vs 37 cts
    net 7.6 mln vs 7.5 mln
    Revs 383.9 mln vs 326.3 mln
    Year
    Shr 1.17 dlrs vs 99 cts
    Net 24.0 mln vs 20.3 mln
    Revs 1.2 billion vs 1.0 billion
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9386" NEWID="4473">
<DATE>12-MAR-1987 15:35:28.85</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
&#22;&#22;&#1;f0317&#31;reute
f f BC-ussr-export-sale   03-12 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. EXPORTERS REPORT 120,000 TONNES WHEAT  PURCHASED FROM FOREIGN SELLERS FOR 1987/88
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9387" NEWID="4474">
<DATE>12-MAR-1987 15:35:53.02</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;f0320&#31;reute
u f BC-PHILLIPS-&lt;P>-RAISES-C   03-12 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILLIPS &lt;P> RAISES CRUDE POSTINGS 50 CTS</TITLE>
<DATELINE>    New York, March 12 - </DATELINE><BODY>Phillips Petroleum said it raised the
contract price it will for all grades of crude oil 50 cts a
barrel, effective today.
    The increase brings Phillip's posted price for the West
Texas Intermediate and West Texas Sour grades to 17.50 dlrs a
bbl.
    Phillips last changed its crude oil postings on March 4.
    The price increase follows similar moves by USX's &lt;X>
subsidiary, Marathon oil, and Sun Co &lt;SUN> earlier today.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9388" NEWID="4475">
<DATE>12-MAR-1987 15:36:09.38</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;f0321&#31;reute
r f BC-ASAMERA-INC-&lt;ASM>-YEA   03-12 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>ASAMERA INC &lt;ASM> YEAR LOSS</TITLE>
<DATELINE>    CALGARY, Alberta, March 12 -
    </DATELINE><BODY>Oper shr loss 48 cts vs profit 50 cts
    Oper net loss 11.3 mln vs profit 18.1 mln
    Revs 262.8 mln vs 399.7 mln
    Note: 1986 net excludes tax gain of 1.1 mln dlrs or three
cts shr vs yr-ago gain of 5.6 mln dlrs or 17 cts shr.
    1986 net includes 15 mln dlr charge for reduction in
carrying value of refinery and related assets. 1985 net
includes 10.8 mln dlr gain on sale of Canadian natural gas
property.
    U.S. dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9389" NEWID="4476">
<DATE>12-MAR-1987 15:36:31.30</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;f0324&#31;reute
r f BC-LVI-GROUP-INC-&lt;LVI>-4   03-12 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>LVI GROUP INC &lt;LVI> 4TH QTR OPER NET</TITLE>
<DATELINE>    NEW YORK, March 12 -
    </DATELINE><BODY>Oper shr profit two cts vs loss 19 cts
    Oper net profit 523,000 vs loss 2,191,000
    Revs 102.5 mln vs 39.9 mln
    Avg shrs 20.0 mln vs 11.1 mln
    Year
    Oper shr profit 11 cts vs loss 29 cts
    Oper net profit 2,240,000 vs loss 2,884,000
    Revs 304.4 mln vs 50.3 mln
    Avg shrs 19.4 mln vs 9,759,000
     NOTE: 1986 4th qtr and year oper net excludes a gain of
492,000 dlrs and 1,241,000 dlrs, respectively, for
carryforwards and a loss of 135,000 dlrs and 533,000 dlrs,
respectively, for early extinguishment of debt.
    1985 4th qtr and year oper net excludes a loss of 1,457,000
dlrs or 14 cts per share and loss 1,735,000 dlrs or 18 cts per
share, respectively, for discontinued operations.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9390" NEWID="4477">
<DATE>12-MAR-1987 15:38:45.67</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;f0326&#31;reute
u f BC-TALKING-POINT/PUROLAT   03-12 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>TALKING POINT/PUROLATOR COURIER CORP &lt;PCC></TITLE>
<AUTHOR>    By Patti Domm, Reuter</AUTHOR>
<DATELINE>    New York, March 12 - </DATELINE><BODY>Purolator Courier corp's stock rose on
specualtion that a disgruntled former Purolator director would
find a new suitor for the company, traders said.
    Purolator agreed in late February to a 35 dlr-a-share, 265
mln-dlr offer from E.F. Hutton LBO Inc and certain members of
its Purolator courier division's management.
    The stock today hit 36-1/4, up one.
    Today, Purolator revealed in a filing with the Securities
and Exchange Commission that director Doresy Gardner resigned
from its board of directors in a letter dated March 10.
    The letter from Gardner said he resigned the board because
the merger agreement with Hutton barred directors from
soliciting new offers and he believes shareholders might get a
better deal. Gardner said he believes a better offer might be
found if the company would agree to be sold to some other
entity, or if it could sell off all or part of its U.S. courier
division.
    "Basically, (the courier division) is a company that has
450 mln dlrs in revenues. It's a very large company and it's
being sold for 50 or 60 mln dlrs," said Gardner in a telephone
interview with Reuters.
    Gardner is an official of Kelso Management, a firm
associated with Fidelity International Ltd. A group of Fidelity
companies owns eight pct of Purolator, and Gardner said he
personally owns 20,000 shares.
    A Purolator official said the company has no comment on the
letter from Gardner.
    Arbitragers speculated another overnight messenger service
may emerge as a likely bidder for Purolator. Before the
transaction with Hutton LBO was announced, analysts had also
speculated another courier company would be the most likely
suitor.
    While one arbitrager acknowledged there in fact may be no
new bidders, he said the possibility one could appear pushed
the stock into play again.
    "There's no shortage of possibilities. It's just a question
of management's willingness to let the process continue," said
one arbitrager.
    Arbitragers said a new buyer might be found because they
believe Hutton LBO has taken on no risk in the transaction.
Hutton has begun a tender for 83 pct of Purolator at 35 dlrs
cash per share. The balance of Purolator's stock will be bought
for securities and warrants in a new company holding the U.S.
courier operations.
    The arbitragers said tender offer documents show that
Hutton does not need to use its cash in the transaction and
will emerge with a giant, majority equity interest in
Purolator.
    "As far as I can tell from the public documents from the
deal that's on the table, Hutton is basically putting up zero.
One always likes a situation like that. You always like to
think if they can do this deal at no risk, there should be
someone else in the world that could do it higher," said one
arbitrager.
    The firm, however, is supplying temporary financing, and
sources close to the transaction disputed the claim that the
firm will not end up paying for its equity position.
    While one scenario mentioned in the tender offer document
did note that the E.F. Hutton Group subsidiary may not have to
keep cash in the transaction, the sources said there is some
risk to the firm.
    "There are a variety of contingencies and restricted cash,
and all sorts of things that make it very speculative," said
one of the sources, adding there are also severance payments to
employees.
    The E.F. Hutton Group subsidiary is supplying 279 mln dlrs
in so-called "bridge" financing for the transaction. The bridge
financing is a temporary loan from Hutton.
    The financing is to be replaced with permanent financing,
expected to come from banks. However, it may take some time to
replace the financing, the source said, resulting in what could
be a substantial expense to the firm.
    Gardner said Hutton stands to gain fees of 10 to 20 mln
dlrs from the transaction, but sources close to the transaction
said fees are at the low end of the scale.
    "It's a very complex transaction, but basically what
happens is they ostensibly put up money but the fees recapture
any investment they might have once the merger takes place,"
Gardner said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9391" NEWID="4478">
<DATE>12-MAR-1987 15:40:59.28</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
&#22;&#22;&#1;f0330&#31;reute
b f BC-ussr-export-sale   03-12 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>USDA SAYS WHEAT PURCHASED FROM FOREIGN SELLERS</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>The U.S. Agriculture Department said
private U.S. exporters reported purchases from foreign sellers
of 120,000 tonnes of wheat for delivery to unknown
destinations.
    The wheat, consisting of 60,000 tonnes of hard red winter
and 60,000 tones of soft red winter, is for delivery during the
1987/88 season, which begins June 1.
    A purchase from a foreign seller is a transaction in which
a U.S. exporter contracts to buy U.S.-produced commodities from
a foreign firm, the department said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9392" NEWID="4479">
<DATE>12-MAR-1987 15:42:19.00</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0336&#31;reute
f f BC-******FCC-PANEL-VOTES   03-12 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FCC PANEL VOTES 1.50 DLR HIKE IN MONTHLY RESIDENTAL PHONE SUBSCRIBER LINE CHARGE
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9393" NEWID="4480">
<DATE>12-MAR-1987 15:42:45.60</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0338&#31;reute
f f BC-******volcker   03-12 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>VOLCKER SEES NO CLEARCUT EVIDENCE THAT U.S. TRADE DETERIORATION HAS YET BEEN REVERSED
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9394" NEWID="4481">
<DATE>12-MAR-1987 15:43:26.60</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;f0341&#31;reute
u f BC-DIAMOND-SHAMROCK-&lt;DIA   03-12 0060</UNKNOWN>
<TEXT>&#2;
<TITLE> DIAMOND SHAMROCK &lt;DIA> RAISES CRUDE POSTINGS</TITLE>
<DATELINE>    New York, March 12 - </DATELINE><BODY>Diamond Shamrock said it raised the
contract price it will pay for crude oil 50 cts a barrel,
effective today.
    The increase brings the company's posted price for the
benchmark grade, West Texas Intermediate, to 17.50 dlrs/bbl.
    Diamond Shamrock last changed its postings on March 4.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9395" NEWID="4482">
<DATE>12-MAR-1987 15:44:57.17</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0343&#31;reute
f f BC-******VOLCKER   03-12 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>VOLCKER SEES SEVERE PROBLEMS IN SOME SECTORS OF THE U.S. ECONOMY
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9396" NEWID="4483">
<DATE>12-MAR-1987 15:45:33.89</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f0345&#31;reute
f f BC-toronto-dominion   03-12 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>TORONTO DOMINION BANK CUTS PRIME RATE TO 8-3/4 PCT FROM 9-1/4 PCT - TOMORROW
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9397" NEWID="4484">
<DATE>12-MAR-1987 15:45:49.04</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f0346&#31;reute
b f BC-prime   03-12 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BANK OF MONTREAL CUTS PRIME RATE TO 8-3/4 PCT FROM 9-1/4 PCT, EFFECTIVE FRIDAY
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9398" NEWID="4485">
<DATE>12-MAR-1987 15:47:12.88</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0348&#31;reute
r f BC-R.P.-SCHERER-&lt;SCHS>-O   03-12 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>R.P. SCHERER &lt;SCHS> OFFERS PREFERRED STOCK</TITLE>
<DATELINE>    TROY, MICH., March 12 - </DATELINE><BODY>R.P. Scherer Corp said it is
offering 1.6 mln shares of 5-3/4 pct convertible exchangeable
preferred stock at 25 dlrs a share.
    Each stock is convertible into the company's common stock
at 23.60 dlrs a share, which represents a conversion premium of
24.2 pct over the last sale price of 19 dlrs a share on March
11.
    Goldman, Sachs and Co is lead underwriter for the offering.
    Scherer said one of its directors, Richard Manoogian, said
he will buy 200,000 shares of the preferred stock at the same
25 dlrs a share.
    The company said proceeds will be used for general
corporate purposes including funding an increasing commitment
to research and development on new drug formulations and
delivery systems.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9399" NEWID="4486">
<DATE>12-MAR-1987 15:47:36.69</DATE>
<TOPICS><D>cpi</D></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0351&#31;reute
f f BC-******VOLCKER   03-12 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>VOLCKER SAYS FED REMAINS CONCERNED ABOUT THE POSSIBILITY OF RENEWED INFLATION
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9400" NEWID="4487">
<DATE>12-MAR-1987 15:47:45.55</DATE>
<TOPICS><D>money-supply</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0352&#31;reute
f f BC-******ASSETS-OF-MONEY   03-12 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>ASSETS OF MONEY MARKET MUTUAL FUNDS FELL 35.3 MLN DLRS IN LATEST WEEK TO 237.43 BILLION
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9401" NEWID="4488">
<DATE>12-MAR-1987 15:49:29.45</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;f0363&#31;reute
u f AM-COMPUTERS   03-12 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>WEINBERGER OPPOSES FUJITSU BUYING U.S. FIRM</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>Defense Secretary Caspar Weinberger
will join Commerce Secretary Malcolm Baldrige in fighting
Fujitsu Ltd's &lt;ITSU.T> plan to buy 80 pct of &lt;Fairchild
Semiconductor Corp>, Pentagon officials said.
    "He (Weinberger) opposes it. It is not in the best interests
of the country to have more of the micro-electronics business
leaving the United States," one of the Pentagon officials, who
asked not to be identified, told Reuters.
    Commerce Department officials told Reuters yesterday that
Baldrige opposed the planned sale and that the White House
Economic Policy Council will take up the matter within weeks.
    Commerce and defense officials said Baldrige and Weinberger
feared the U.S. military is already leaning too heavily on
foreign electronic support.
    But the Defense Department also said today that Weinberger
and Baldrige differed on the proposed sale of U.S. computer
equipment to Iran.
    The Commerce Department advised the Pentagon recently that
defense objections to two proposed sales -- to an Iranian power
company and the Islamic Republic of Iran News Agency -- were
not valid and the sales of small and medium computers would go
through unless more evidence was presented.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9402" NEWID="4489">
<DATE>12-MAR-1987 15:50:00.68</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0365&#31;reute
r f BC-FORMER-MERRILL-LYNCH   03-12 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>FORMER MERRILL LYNCH &lt;MER> EMPLOYEE CHARGED</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>A former account executive and
registered representative at Merrill Lynch Co Inc was charged
by a federal grand jury with diverting 8,400 dlrs of the
company's funds for his own use, according to court papers.
    Bentley Whitfield, 31, was accused by the Grand Jury of
mail fraud stemming from a scheme in which he deposited a check
payable to Merrill Lynch into a trading account that he opened
under a ficticious name.
    The grand jury found he withdrew 8,400 dlrs from the
account and used the money in a real estate deal. He faces a
maximum five years in jail and 1,000 dlr fine.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9403" NEWID="4490">
<DATE>12-MAR-1987 15:56:53.83</DATE>
<TOPICS><D>grain</D><D>wheat</D><D>corn</D><D>oilseed</D><D>soybean</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0375&#31;reute
u f BC-GLICKMAN-PUSHES-HARD   03-12 0134</UNKNOWN>
<TEXT>&#2;
<TITLE>GLICKMAN PUSHES HARD FOR 0/92 FARM PLAN</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>Implementation of a one-year 0/92
pilot program for wheat and feedgrains was strongly promoted
today by the chairman of a key house agriculture subcommittee
as a way to cut farm costs and simultaneously give farmers
another option when making their planting decisions.
    "We have a budget driven farm policy. It may be a shame,
but we are locked into this," said Dan Glickman, (D-Kans.),
chairman of the subcommittee on wheat, soybeans and feed
grains. "We need to look at ways to cut costs and not hurt the
farmer. A 0/92 plan, if properly done, could do both."
    Glickman announced this week plans to introduce a 0/92 bill
for 1987 and 1988 wheat and feedgrains. An aide to Glickman
said that it will probably be introduced next week.
    Glickman said a 0/92 program, which allows a farmer to
forego planting and still receive 92 pct of his deficiency
payment, would not be a major revision of the 1985 farm bill --
only an extension of the 50/92 option already provided under
the current bill.
    It is premature to make any major changes in the farm bill,
he said, but if agriculture has to make further cuts to meet
budget goals, a voluntary 0/92 plan would be better than
sharply cutting target prices, as USDA has proposed.
    A 0/92 plan, however, would not be decoupling, but simply a
different type of acreage diversion program, Glickman said.
    Decoupling -- delinking planting decisions from government
payments -- is too much of a policy change to approve at this
point, he said.
    "I don't think there is any interest in pursuing a
decoupling bill this year. Period. Unequivocal," Glickman said
at the hearing.
    Sen. Rudy Boschwitz (R-Minn.), cosponsor of the
Boren/Boschwitz decoupling plan, said he supports a short term
0/92 program as a move to a more permament decoupling plan.
    Boschwitz plans to introduce a 0/92 plan in the senate. His
plan would guarantee a certain deficiency payment to
participating farmers, require that idled acreage be put to
conservation use only, prohibit haying and grazing on extra
idled acreage, limit participation to a certain number of acres
in a county and provide tenant protection provisions.
    "I know we cannot obtain complete decoupling in 1987, but
we can at least move in that direction," Boschwitz said.
    Robbin Johnson, vice president of Cargill, Inc., testified
in favor of decoupling. Decoupling would end the current bias
in U.S. farm policy towards overproduction and reduce farmers'
dependency on the government, he said.
    A 0/92 plan does not go far enough in decoupling, Johnson
said, and would still encourage farmers to plant.
    Officials from the National Corn Growers Association and
the National Cattlemen's Association said their groups oppose
any 0/92 or decoupling plan due to concerns about reopening the
farm bill and creating more confusion among farmers.
    But when asked if his association were forced to choose
between a ten pct cut in target prices or a 0/92 program, Larry
Johnson of the Corn Growers said they would agree to 0/92
rather than take sharp cuts in target levels.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9404" NEWID="4491">
<DATE>12-MAR-1987 15:57:19.42</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>james-miller</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0377&#31;reute
u f BC-MILLER-REITERATES-NO   03-12 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>MILLER SAYS NO U.S. TAX HIKES TO CUT DEFICIT</TITLE>
<DATELINE>     DALLAS, March 12 - </DATELINE><BODY>Director of the Office of Management
and Budget James Miller said the Reagan administration had no
intention of raising taxes in order to reduce the federal
budget deficit.
     "There will be no tax increases," he said three times
before a Management Briefing luncheon of Southern Methodist
University's Edwin L. Cox School of Business.
     The budget deficit, which is currently slated at 173
billion dlrs for fiscal 1988, is supposed to be reduced to 108
billion dlrs under the provisions of the Gramm-Rudman Act,
which calls for a balanced budget by fiscal 1991.
     Miller said he believes the budget deficit can be reduced
but added, "the surest way to put us in a pickle" would be to
raise or ease the Gramm-Rudman goal.
     "If we were to raise taxes so soon after tax reform, it
would create enormous uncertainty on the financial markets," he
said, adding that giving up on the will to reduce the deficit
would also create uncertainty.
     Miller reiterated the president's budget proposal that the
deficit could be reduced by a total of 42 billion dlrs through
increased revenues and spending cuts. An additional 23 billion
dlrs from economic growth is expected to result in the budget
deficit being reduced to the 108 billion dlr target.
     Miller said it was possible the Administration might
support an oil import fee, but added that the President was
concerned that such a move might have more adverse results than
benefits.
     He also said the Administration was seeking to spin off
Amtrak, which costs the government about 500 mln dlrs a year,
but added that he did not expect it to be accomplished this
year.             
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9405" NEWID="4492">
<DATE>12-MAR-1987 15:57:53.37</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0380&#31;reute
r f BC-HANOVER-INSURANCE-CO   03-12 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>HANOVER INSURANCE CO &lt;HINS> GETS NEW EXECUTIVE</TITLE>
<DATELINE>    BOSTON, March 12 - </DATELINE><BODY>Hanover Insurance Co said Joseph Henry
has been elected financial vice president of the company and
its subsidiary, the Massachusetts Bay Insurance Co.
    Henry is a former partner of Peat Marwick Mitchell, Hanover
said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9406" NEWID="4493">
<DATE>12-MAR-1987 15:58:11.29</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;f0382&#31;reute
d f BC-SAFEGUARD-SCIENTIFIC   03-12 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>SAFEGUARD SCIENTIFIC &lt;SFE> IN EQUITY DEAL</TITLE>
<DATELINE>    KING OF PRUSSIA, Pa., March 12 - </DATELINE><BODY>Safeguard Scientifics Inc
said it made a 2.5 mln dlr equity investment in &lt;Sanchez
Computer Associates Inc>, a private computer software firm
based in Malvern, Pa.
   Safeguard said the investment gives it a "major ownership
position" in Sanchez, which specializes in software products
for financial institutions.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9407" NEWID="4494">
<DATE>12-MAR-1987 15:58:29.92</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;f0383&#31;reute
d f BC-CORE-INDUSTRIES-INC-&lt;   03-12 0045</UNKNOWN>
<TEXT>&#2;
<TITLE>CORE INDUSTRIES INC &lt;CRI> 2ND QTR FEB 28 NET</TITLE>
<DATELINE>    BLOOMFIELD HILLS, MICH., March 12 -
    </DATELINE><BODY>Shr 20 cts vs 22 cts
    Net 1,948,000 vs 2,124,000
    Sales 40.9 mln vs 41.0 mln
    Six mths
    Shr 40 cts vs 50 cts
    Net 3,864,000 vs 4,835,000
    Sales 81.7 mln vs 79.9 mln
    NOTE: 1986 results include gain on sale of land of 571,000
dlrs, or six cts a share
    1986 results include loss from discontinued operations of
403,000 dlrs, or four cts a share in the quarter and 598,000
dlrs, or six cts a share in the six months
 
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9408" NEWID="4495">
<DATE>12-MAR-1987 15:59:58.82</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0388&#31;reute
u f BC-FCC-PANEL-RECOMMENDS   03-12 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>FCC PANEL RECOMMENDS PHONE FEE HIKE</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>A Federal Communications Commission
(FCC) board recommended raising the two-dollar monthly
subscriber line charge for residential telephone customers by
1.50 dlrs over the next two years.
    The subscriber line charge was first levied by the FCC in
June, 1985, in an effort to more acurately reflect the cost of
providing phone service as a part of phone deregulation.
    The recommendation by the board, composed of federal and
state utility regulators, was expected to be approved by the
FCC in a seperate decision in the next few weeks.
    The subscriber line charge for residences and businesses
with single phone lines will rise to 2.60 dlrs in June 1987,
3.20 in September 1988, and 3.50 dlrs in April 1989.
    The staff of the FCC said at a public meeting that the
increase in the charge would make possible a reduction in
long-distance phone rates of 15 pct or 17 billion dlrs over six
years.
    Supporters of the subscriber line charge have argued that
long distance phone rates had been subsidizing local phone
service, which would lead to abandonment of the phone network
by large commercial phone customers.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9409" NEWID="4496">
<DATE>12-MAR-1987 16:01:20.10</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;f0393&#31;reute
r f BC-ALLEGHENY-BEVERAGE-&lt;A   03-12 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>ALLEGHENY BEVERAGE &lt;ABEV> DOWNGRADED BY MOODY'S</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Moody's Investors Service Inc said it
cut to Caa from B-2 Allegheny Beverage Corp's 112 mln dlrs of
subordinated debt.
    The rating agency cited Allegheny's high leverage and poor
operating performance, as well as reduced cash flow.
    Moody's said the company's prospects for improvement are
limited by increasing competition in the food service industry
and decreasing demand for the vending services that Allegheny
provides. Moody's also said a renegotiated bank agreement
includes accelerated amortization requirements that exacerbate
Allegheny's already weakened ability to service its debt.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9410" NEWID="4497">
<DATE>12-MAR-1987 16:03:01.84</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0396&#31;reute
r f BC-MUSIKAHN-CORP-FILES-F   03-12 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>MUSIKAHN CORP FILES FOR REORGANIZATION</TITLE>
<DATELINE>    FREEPORT, N.Y., March 12 - </DATELINE><BODY>&lt;Musikahn Corp> said it filed a
reorganization plan with the U.S. Bankruptcy Court for itself
and its subsidiary, Jack Kahn Music Co.
    The company said both entities have been operating as
debtors in Chapter 11 since Oct 22, 1985.
    The plan provides for payment in full of administration
expenses and priority claims, and secured claims, the companies
said. In addition, priority claims of governmental units will
be paid in full over a period of six years.
    The companies said unsecured creditors will receive up to
25 pct of their claims.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9411" NEWID="4498">
<DATE>12-MAR-1987 16:03:20.04</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;f0397&#31;reute
d f BC-FIRST-FINANCIAL-&lt;FFMC   03-12 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST FINANCIAL &lt;FFMC> IN STOCK SPLIT</TITLE>
<DATELINE>    ATLANTA, March 12 - </DATELINE><BODY>First Financial Management Corp said
its board declared a three-for-two stock split of its common
stock.
    The split will be effected by a 50 pct stock dividend for
shareholders of record March 23 to be distributed on April six.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9412" NEWID="4499">
<DATE>12-MAR-1987 16:04:03.17</DATE>
<TOPICS><D>interest</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;f0403&#31;reute
u f BC-scotiabank   03-12 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BANK OF NOVA SCOTIA CUTS PRIME RATE TO 8-3/4 PCT FROM 9-1/4 PCT, EFFECTIVE TOMORROW
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9413" NEWID="4500">
<DATE>12-MAR-1987 16:04:59.87</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0408&#31;reute
d f BC-COMMAND-AIRWAYS-&lt;COMD   03-12 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>COMMAND AIRWAYS &lt;COMD> FEBRUARY TRAFFIC ROSE</TITLE>
<DATELINE>    POUGHKEEPSIE, N.Y., March 12 - </DATELINE><BODY>Command Airways said its
February load factor rose to 40.4 pct from 39.0 pct, available
seat miles rose to 9.6 mln from 7.1 mln last year and revenue
passenger miles rose to 3.9 mln from 2.8 mln.
    For the year to date, Command's load factor rose to 40.6
pct from 38.1 pct, revenue passenger miles rose to 37.0 mln
from 27.8 mln and available seat miles rose to 91.2 mln from
72.7 mln.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9414" NEWID="4501">
<DATE>12-MAR-1987 16:05:27.65</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0410&#31;reute
r f BC-TEXACO-&lt;TX>,-HONEYWEL   03-12 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>TEXACO &lt;TX>, HONEYWELL &lt;HON> IN JOINT VENTURE</TITLE>
<DATELINE>    PHOENIX, Ariz., March 12 - </DATELINE><BODY>Texaco Inc and Honeywell Inc
said they formed a joint venture to provide advanced industrial
plant control systems and services.
    The companies did not say how much money they will invest
in the Phoenix-based venture, which has been named Icotron Co.
    Louis Garbrecht Jr, general manager of Texaco's engineering
and safety department, was named chairman of the venture, the
companies said. John Hoag, a Honeywell executive, will oversee
the day-to-day operations of the venture as president, the
partners said.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9415" NEWID="4502">
<DATE>12-MAR-1987 16:06:13.03</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0415&#31;reute
r f BC-GM-&lt;GM>-ADDS-PLANT-TO   03-12 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>GM &lt;GM> ADDS PLANT TO TEMPORARY LAYOFF LIST</TITLE>
<DATELINE>    DETROIT, March 12 - </DATELINE><BODY>General Motors Corp said it is adding a
third plant to its temporary layoff ranks.
    It said the Arlington Assembly plant in Arlington, Texas,
will be closed March 16 to 30 for inventory adjustment, a move
affecting some 2,000 workers.
    Two plants previously put on temporary layoff are the
Lakewood (Georgia) assembly plant, which will be closed in
early May for model changeover and the Norwood (Ohio) plant,
down March 9-23 due to material shortage. The total number on
temporary layoff will be 7,600.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9416" NEWID="4503">
<DATE>12-MAR-1987 16:06:31.40</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;F
&#22;&#22;&#1;f0417&#31;reute
r f BC-OCCIDENTAL-UNIT-&lt;OXY>   03-12 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>OCCIDENTAL UNIT &lt;OXY> LIFTS LOCKOUT</TITLE>
<DATELINE>    CHICAGO, March 12 - </DATELINE><BODY>Iowa Beef Processors Inc is lifting a
lockout at its Dakota City, Nebraska processing plant and plans
to resume operations March 16, United Food and Commercial
Workers Union spokesman Allen Zack said by phone from his
Washington, D.C. headquarters.
    Iowa Beef, a susbsidiary of Occidental Petroleum Corp,
mailed a letter to members of UFCWU Local 222 informing them a
lockout imposed by the company on December 14 would be lifted
and meatpackers could return to work under Iowa Beef's
"revised, last and best final offer," according to Zack.
    The letter was signed by four managers at the Dakota City
plant.
    Iowa Beef closed the proessing plant indefinitely in
mid-December because, it said, it had no alternative to threats
by meatpackers to disrupt operations.
    About 2,800 members of Local 222 are affected by the
shutdown. A 3-1/2 year labor contract at the plant expired
December 13.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9417" NEWID="4504">
<DATE>12-MAR-1987 16:06:59.90</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;f0421&#31;reute
r f BC-CIRCON-CORP-&lt;CCON>-4T   03-12 0047</UNKNOWN>
<TEXT>&#2;
<TITLE>CIRCON CORP &lt;CCON> 4TH QTR</TITLE>
<DATELINE>    SANTA BARBARA, Calif., March 12 -
    </DATELINE><BODY>Shr loss two cts vs profit 10 cts
    Net loss 79,000 vs profit 507,000
    Revs 10.6 mln vs 2,238,000
    12 mths
    Shr profit two cts vs profit 23 cts
    Net 89,000 vs 1,130,000
    Revs 21.4 mln vs 7,766,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9418" NEWID="4505">
<DATE>12-MAR-1987 16:07:42.30</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;f0426&#31;reute
r f BC-BROWN-TRANSPORT-&lt;BTCU   03-12 0036</UNKNOWN>
<TEXT>&#2;
<TITLE>BROWN TRANSPORT &lt;BTCU> DECLARES FIRST PAYOUT</TITLE>
<DATELINE>    ATLANTA, March 12 - </DATELINE><BODY>Brown Transport Co Inc said its board
declared an initial quarterly dividend of four cts a share,
payable April 10 to stockholders of record March 31.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9419" NEWID="4506">
<DATE>12-MAR-1987 16:08:30.16</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;f0432&#31;reute
u f BC-PRESIDENT-NAMED-FOR-D   03-12 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>PRESIDENT NAMED FOR DISNEY &lt;DIS> EUROPEAN PARK</TITLE>
<DATELINE>    BURBANK, Calif., March 12 - </DATELINE><BODY>Walt Disney Co &lt;DIS> said it
named Robert J. Fitzpatrick, president of Euro Disneyland.
    Disney said the appointment becomes effective when it and
the French government sign the definitive agreement for the new
outdoor entertainment complex near Paris. It said the park will
be built on nearly 5,000 acres in Marne-la-Vallee, 20 miles
east of Paris. It said it will include the Magic Kingdom theme
park, outdoor recreation, shops and hotels.
    It said it will seek qualified investors in France and
elsewhere to form the Europ Disneyland owner company, in which
it will also be an equity partner.
    Disney also said it will receive management fees for
operating the park in addition to license and royalty income.
    It said Fitzpatrick is president of California Institute of
the Arts and director of the Los Angeles Festival.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9420" NEWID="4507">
<DATE>12-MAR-1987 16:09:11.38</DATE>
<TOPICS><D>gas</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0437&#31;reute
r f BC-WRIGHT-SAYS-A-GAS-TAX   03-12 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>WRIGHT SAYS A GAS TAX AN OPTION TO CUT DEFICIT</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>House Speaker Jim Wright said a
gasoline tax is one option to finding a way to reduce the
deficit, but told reporters in response to a question he will
not try to dictate a solution to the debt problem.
    Wright has made suggestions for raising taxes about 20
billion dlrs as part of a budget plan to reduce the deficit.
Tax proposals are being given consideration by members of the
House Budget Committee, but the details of any tax increase
would be made by the tax writing House ways and Means
Committee.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9422" NEWID="4508">
<DATE>12-MAR-1987 16:10:34.19</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;f0440&#31;reute
u f BC-WHITE-HOUSE-DETAILS-C   03-12 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>WHITE HOUSE DETAILS CREDIT REFORM LEGISLATION</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>The Reagan Administration sent to
Congress proposed legislation that would require Congress to
reflect the cost of federal loan subsidies in the government's
budget.
    The legislation would require Congress to approve all
subsidies on loans, to sell off many loans to the private
sector shortly after they are made and to buy private
reinsurance for many guaranteed loans.
    White House officials estimated reinsurance premiums  could
amount to six billion dlrs a year to private companies.
    The bill would make little impact on the federal deficit or
payroll, officials said.
    The legislation would not in itself alter the terms of
federal credit programs.
    But officials said they would be pleased if Congress
tightened some programs after seeing their true cost set out in
the budget.
    The program would call for the immediate sale of many newly
made direct federal loans, but would no effect existing federal
loan portfolios. Some of these are already proposed to be sold
off under previous administration programs.
    Exempt from the sale requirement would be loans made under
the Commodity Credit Corp commodity loan program, which the
government considers to be a commodity purchase program rather
than a credit program, and defaulted guaranteed loans, which
the government considers to be the same as direct loans.
    Also excluded from the sale requirement would be most
foreign loans, though officials said they may at some point
consider selling off some Export-Import Bank loans.
    Officials said government loan programs currently amount to
about 252 billion dlrs in direct loans and 450 billion dlrs in
guaranteed loans a year.
    Officials said U.S. agencies were asked to calculate the
approximate cost of their loan subsidies by looking at
comparable loans in the marketplace.
    The administration is asking Congress to begin reflecting
the cost of these subsidies in the fiscal 1988 budget, which
the House Budget Committee plans to begin marking up late next
week.
    Officials said the reforms, if adopted across-the-board by
all affected congressional committees, would lower the federal
deficit by only 100 mln dlrs in fiscal 1988.
    Officials said the administration hopes to sell a total of
13.0 billion dlrs in loan assets during fiscal 1988, including
1.8 billion dlrs in loan assets under the credit reform program
and 11.2 billion dlrs in loan assets already in the
governemnt's portfolion.
    In fiscal 1989, the administration hopes to sell 8.9
billion dlrs in loans, including 1.3 billion dlrs of loans
under the credit reform program and 7.6 billion dlrs from the
existing portfolio.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9421" NEWID="4509">
<DATE>12-MAR-1987 16:10:53.29</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0441&#31;reute
f f BC-******KEY-U.S.-HOUSE   03-12 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>KEY U.S. HOUSE TRADE SUBCOMMITTEE APPROVES BILL TO TOUGHEN U.S. TRADE LAWS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9423" NEWID="4510">
<DATE>12-MAR-1987 16:11:38.60</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;f0443&#31;reute
d f BC-&lt;SUMMIT-PETROLEUM-COR   03-12 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;SUMMIT PETROLEUM CORP> SELLS SHARES</TITLE>
<DATELINE>    ABILENE, TEXAS, March 12 - </DATELINE><BODY>Summit Petroleum Corp said it
sold 11.3 mln shares, or 29.4 pct, of its common stock to
&lt;Halbert and Associates Inc>.
    The company said the shares were previously held by
&lt;Consolidated Energy Corp> and Harken Oil and Gas Inc &lt;HOGI>.
    In addition, David D. Halbert, president and chief
executive officer of Halbert, an Abilene investment firm, was
named chairman and chief executive of Summit, the company said.
   Halbert, Charles M. Bruce and James O. Burke were also named
directors, expanding the board to five, Summit added.
    The company said Burke is president and chief executive of
&lt;Allied Comprehensive Health Inc>, Abilene, while Bruce is a
partner in the Washington law firm of Butler and Binion.
    Summit said it intends to actively seek acquisitions to
increase its asset base.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9424" NEWID="4511">
<DATE>12-MAR-1987 16:12:13.03</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0447&#31;reute
r f BC-GEN-DYNAMICS-&lt;GD>-GET   03-12 0035</UNKNOWN>
<TEXT>&#2;
<TITLE>GEN DYNAMICS &lt;GD> GETS 44.7 MLN DLR CONTRACT</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>Genral Dynamics Corp has received a
44.7 mln dlr contract for steam and electric plant development
for SSN-21 submarines, the Navy said .
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9425" NEWID="4512">
<DATE>12-MAR-1987 16:14:54.38</DATE>
<TOPICS><D>oilseed</D><D>rapeseed</D></TOPICS>
<PLACES><D>canada</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0454&#31;reute
u f BC-JAPANESE-CRUSHERS-BUY   03-12 0032</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPANESE CRUSHERS BUY CANADIAN RAPESEED</TITLE>
<DATELINE>    WINNIPEG, March 12 - </DATELINE><BODY>Japanese crushers bought 8,000 tonnes
of Canadian rapeseed in export business overnight for April
shipment, trade sources said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9426" NEWID="4513">
<DATE>12-MAR-1987 16:15:24.51</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0455&#31;reute
u f BC-NO-CLEAR-EVIDENCE-TRA   03-12 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>NO CLEAR EVIDENCE TRADE GAP REVERSED - VOLCKER</TITLE>
<DATELINE>    LOS ANGELES, March 12 - </DATELINE><BODY>Federal Reserve Board Chairman Paul
Volcker said current data does not give a clear sign that the
deterioration in the U.S. trade balance has yet been reversed.
    "The data we have in hand do not provide clearcut evidence
that the deterioration in the trade balance has yet been
reversed," Volcker said in remarks prepared for delivery to a
luncheon for community leaders here.
    However, Volcker said there are encouraging signs,
particularly the rising volume of exports over the past year,
achieved despite relatively slow growth abroad.
    Volcker warned it is not sustainable from an economic
perspective to pile up foreign debt while failing to make the
investment needed to generate growth and earn the money to
service the debt.
    He said the process of restoring external balance to the
U.S. economy requires dealing with the budget deficit. He said
needed economic adjustment will require a relative shift of
financial and real resources into internationally competitive
industry. "More of our growth will need to be reflected in net
exports and business investment and less in consumption,"
Volcker said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9427" NEWID="4514">
<DATE>12-MAR-1987 16:15:34.01</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;f0456&#31;reute
u f BC-IOWA-BEEF-LIFTS-LOCKO   03-12 0131</UNKNOWN>
<TEXT>&#2;
<TITLE>IOWA BEEF LIFTS LOCKOUT AT DAKOTA CITY</TITLE>
<DATELINE>    CHICAGO, March 12 - </DATELINE><BODY>Iowa Beef Processors Inc is lifting a
lockout at its Dakota City, Nebraska, processing plant and
plans to resume operations March 16, United Food and Commercial
Workers (UFCW) Union spokesman Allen Zack said.
    Iowa Beef mailed a letter to members of UFCW Local 222
informing them a lockout imposed by the company December 14
would be lifted and meatpackers could return to work under Iowa
Beef's "revised, last and best final offer," Zack said.
    Iowa Beef had closed the plant indefinitely in mid-December
because it said it had no alternative to threats by meatpackers
to disrupt operations.
    About 2,800 members of Local 222 are affected by the
shutdown. A 3-1/2 year labor contract at the plant expired
December 13.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9428" NEWID="4515">
<DATE>12-MAR-1987 16:16:25.32</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;f0459&#31;reute
f f BC-******N.Y.-BUSINESS-L   03-12 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>N.Y. BUSINESS LOANS FALL 718 MLN DLRS IN MARCH 4 WEEK, FED SAYS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9429" NEWID="4516">
<DATE>12-MAR-1987 16:16:31.27</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;f0460&#31;reute
f f BC-******NEW-YORK-BANK-D   03-12 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>NEW YORK BANK DISCOUNT WINDOW BORROWINGS NIL IN MARCH 11 WEEK
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9430" NEWID="4517">
<DATE>12-MAR-1987 16:16:41.54</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;f0461&#31;reute
d f BC-TONY-LOMA-CO-INC-&lt;TLA   03-12 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>TONY LOMA CO INC &lt;TLAM> 4TH QTR</TITLE>
<DATELINE>    EL PASO, Texas, March 12 -
    </DATELINE><BODY>Shr profit nil vs loss 61 cts
    Net profit 3,000 vs loss 1,148,000
    Revs 18.4 mln vs 17.8 mln
    Year
    Shr loss 94 cts vs loss 28 cts
    Net loss 1,762,000 vs loss 524,000
    Revs 58.5 mln vs 67.3 mln
    NOTE: 1986 net includes extraordinary gain of 569,000 dlrs
or 30 cts per share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9431" NEWID="4518">
<DATE>12-MAR-1987 16:16:57.98</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;f0463&#31;reute
r f BC-allied   03-12 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>ALLIED-LYONS SEES NO CHANGE IN HIRAM WALKER STAKE</TITLE>
<DATELINE>    TORONTO, March 12 - </DATELINE><BODY>Allied-Lyons PLC &lt;ALLD.L> and Canada's
Reichmann brothers are working well together as partners and
currently do not plan any change in their joint ownership of
distiller Hiram Walker-Gooderham and Worts, Allied-Lyons
chairman Derrick Holden-Brown said.
    Allied-Lyons got 51 pct control of Hiram Walker-Gooderham
last year for about 600 mln U.S. dlrs, while the Reichmanns'
&lt;Gulf Canada Corp> acquired 49 pct in an out-of-court pact
after a hostile battle for the wine and spirits division of
&lt;Hiram Walker Resources Ltd>.
    "We are getting along very well as partners ... I hope
there won't be any change, but there could be," Holden-Brown
told reporters after a speech in Toronto.
    He said Allied-Lyons has a two-year call option that could
force Gulf Canada to sell its 49 pct stake to Allied-Lyons, and
Gulf Canada has a two-year put option that could obligate
Allied-Lyons to buy its 49 pct.
    "Both we and Gulf hope very much there will be no occasion
for either the put or call to be exercised," Holden-Brown said.
    In answer to a reporter's question, Holden-Brown said it
would be possible for Gulf Canada to sell off part of its 49
pct in a public offering with Allied-Lyons' consent. "I don't
think we would have any objection to it," he added.
    Allied-Lyons maintains control of Hiram Walker-Gooderham's
board of directors and has total responsibility for its
management. "We cannot contemplate giving up our control," he
said.
    Holden-Brown would not disclose how big a profit
contribution the distiller will make in Allied-Lyons' financial
results, but he said "it will be substantial."
    "I am not able to give profit forecasts," he said.
    Holden-Brown said Allied-Lyons was able to finance the
Hiram Walker-Gooderham acquisition with cash and borrowings,
and has no current plans for a stock issue.
    He said the company is not currently negotiating any more
acquisitions in Canada but has a team of officials evaluating
possible purchases of wines, spirits, soft drinks or food
concerns. "I don't think we shall be looking at the brewery
scene (which is) highly concentrated already," he added.
    Holden-Brown said Allied-Lyons plans to list its shares on
Canadian stock exchanges, possibly later this year.
             
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9432" NEWID="4519">
<DATE>12-MAR-1987 16:17:32.06</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;f0466&#31;reute
b f BC-new-york-business-loa   03-12 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW YORK BUSINESS LOANS FALL 718 MLN DLRS</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Commercial and industrial loans on the
books of the 10 major New York banks, excluding acceptances,
fell 718 mln dlrs to 64.87 billion in the week ended March 4,
the Federal Reserve Bank of New York said.
    Including acceptances, loans fell 581 mln dlrs to 65.63
billion.
    Commercial paper outstanding nationally dropped 13 mln dlrs
to 336.02 billion.
    National business loan data are scheduled to be released on
Friday.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9433" NEWID="4520">
<DATE>12-MAR-1987 16:18:26.36</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A F
&#22;&#22;&#1;f0472&#31;reute
r f BC-MOODY'S-MAY-LOWER-ATL   03-12 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>MOODY'S MAY LOWER ATLANTIC CITY ELECTRIC &lt;ATE></TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Moody's Investors Service said it is
reviewing 648 mln dlrs of securities issued by Atlantic City
Electric Co for a possible downgrade because of an unresponsive
rate order from the New Jersey Board of Public Utilities.
    The net effect of the Board's recent ruling was to reduce
the company's rates by 15.9 mln dlrs, Moody's said.
    Ratings under review include the company's first mortgage
bonds and secured pollution control revenue bonds, currently
AA-3.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9434" NEWID="4521">
<DATE>12-MAR-1987 16:18:38.36</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;f0474&#31;reute
d f BC-EATON-VANCE-CORP-&lt;EAV   03-12 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>EATON VANCE CORP &lt;EAVN> 1ST QTR JAN 31 NET</TITLE>
<DATELINE>    BOSTON, March 12 -
    </DATELINE><BODY>Shr 53 cts vs 34 cts
    Net 2,253,742 vs 1,332,652
    Avg shrs 4,251,553 vs 3,932,064
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9435" NEWID="4522">
<DATE>12-MAR-1987 16:18:53.69</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;f0475&#31;reute
d f BC-FARM-CREDIT-STABILIZE   03-12 0133</UNKNOWN>
<TEXT>&#2;
<TITLE>FARM CREDIT STABILIZES FURTHER IN PLAINS STATES</TITLE>
<DATELINE>    KANSAS CITY, March 12 - </DATELINE><BODY>Farm credit conditions showed
further signs of stabilizing in the plains and mountain states
during the fourth quarter of 1986, according to bankers
surveyed by the Kansas City Federal Reserve Bank.
    The rate of loan repayment improved as one of every four
bankers reported higher loan repayment rates than a year ago.
Respondents said interest rates continued to edge lower.
    However, the decline in farm real estate values quickened
after moderating through the year, dropping an average four
pct. Farmland values averaged 14 pct lower than a year earlier
and 55 pct below 1981's peak values.
    The survey authors blamed the drop on depressed crop prices
and uncertainty about the future of government crop programs.
    Farm loan demand was the lowest since 1986 with only 13 pct
of the survey respondents reporting an increase in loan demand.
The also reported that 25 pct of the non-farm businesses in
their areas were having severe financial problems, and said the
rate of rural non-farm business closings was nearly three times
higher than normal.
    Over 150 bankers responded to the survey in the Tenth
Federal Reserve District which includes all or parts of
Colorado, Kansas, Missouri, Nebraska, New Mexico, Oklahoma and
Wyoming.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9436" NEWID="4523">
<DATE>12-MAR-1987 16:21:14.18</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;f0479&#31;reute
s f BC-ADAMS-EXPRESS-CO-&lt;ADX   03-12 0046</UNKNOWN>
<TEXT>&#2;
<TITLE>ADAMS EXPRESS CO &lt;ADX> SETS REGULAR PAYOUT</TITLE>
<DATELINE>    NEW YORK, March 12 -
    </DATELINE><BODY>Div 12 cts vs 12 cts
    Pay April 20
    Record April 8
    NOTE: company pays dividend of 12 cts three times annually
with a bulk payment at the end of the fiscal year to equal
annual dividend of 50 cts.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9437" NEWID="4524">
<DATE>12-MAR-1987 16:21:45.01</DATE>
<TOPICS><D>grain</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0481&#31;reute
u f BC-CARGILL-OFFICIAL-DEFE   03-12 0122</UNKNOWN>
<TEXT>&#2;
<TITLE>CARGILL OFFICIAL DEFENDS CERTIFICATE PROGRAMS</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>The use of generic in-kind commodity
certificates has helped ease storage problems and is a
necessary part of export promotion programs, a senior executive
for the world's largest grain company said.
    Testifying before the House Agriculture subcommittee on
wheat, soybeans and feedgrains, Robbin Johnson, vice president
of Cargill, Inc., disputed claims that U.S. grain companies
have made huge profits from certificate trading.
    "The certs program is not in any way a windfall to the
trade," he said. Johnson said that Cargill has been dealing
with a two pct spread in certificate transactions, and that
this is within the normal grain marketing levels.
    Johnson recognized current concern over the cost of
certificates as compared to cash, but said that critics need to
look more closely at the savings caused by certs, noting for
example that widespread use of certs in the PIK and Roll
marketing technique last summer helped ease storage costs.
    Certificates are also an important part of any export
promotion program, he said.
    "The more you look at ways to expand export markets, the
more you have to look at ways to expand certs to put more grain
into the market to meet demand," he said.
    Subcommittee chairman Dan Glickman (D-Kans.) said his
committee would be looking at the certificate program later
this year and studying the General Accounting Office report on
certificate costs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9438" NEWID="4525">
<DATE>12-MAR-1987 16:22:08.52</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;f0483&#31;reute
u f BC-HOUSE-SPEAKER-BACKS-O   03-12 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>HOUSE SPEAKER BACKS OIL IMPORT FORECAST PLAN</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>House Speaker Jim Wright endorsed a
proposal to require the president to take action to reduce oil
imports if they threaten to top 50 pct of U.S. consumption.
    Wright told reporters the plan by Sen. Lloyd Bentsen, a
fellow Texas Democrat, was positive and useful. Oil imports
peaked in 1977 at 47 pct, were short of 36 pct last year and
this year are up over 40 pct, Bentsen said. 
    The Bentsen proposal, supported by 24 other Senators, would
would require the president to issue annual three-year oil
import forecasts. In any year they threatened to top 50 pct, he
would be ordered to propose quotas or other solution.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9439" NEWID="4526">
<DATE>12-MAR-1987 16:22:24.43</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0485&#31;reute
r f BC-ORBIS,-COCA-COLA,-GUL   03-12 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>ORBIS, COCA-COLA, GULF/WESTERN &lt;GW> IN DEAL</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Orbis COmmunications said it entered
an agreement in principle to join Coca-Cola Co's &lt;KO>
Telecommunications Inc unit and Gulf and Western Inc's
Entertainment Group proposed venture to sell national barter
advertising.
    Under national barter advertising, a syndicator sells
programs to a station for proceeds from national advertising
instead of for cash.
    The joint venture will be called International Advertising
Sales and will handle the sale of advertising time for programs
by all three companies.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9440" NEWID="4527">
<DATE>12-MAR-1987 16:23:29.10</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0491&#31;reute
r f BC-VIACOM-&lt;VIA>-FACES-"C   03-12 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>VIACOM &lt;VIA> FACES "COSBY SHOW" SUIT</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>&lt;Casey-Werner Co>, producer of "The
Cosby Show," said it filed suit against Viacom International
Inc, seeking assurances that it will receive its share of
revenues from the show's syndication.
    It said the debt burden placed on Viacom by the 3.4 billion
dlr buyout proposal from &lt;National Amusements Inc> and Viacom's
9.9 mln dlr 1986 loss may prevent it from paying Casey-Werner
its money due from the show.
    Casey-Werner sought assurances from Viacom that its share
of the syndication will not go to Viacom's creditors. But it
said Viacom declined to provide the assurance.
    Alvin Schulman, an attorney representing Casey-Werner, said
Viacom should receive about 450 mln dlrs total from the
syndication rights to the show. Casey-Werner is entitled to
about 66 pct of the funds, he said.
    Schulman added that Viacom is due to receive in March and
April an initial 40 mln dlrs from the syndication rights. To
ensure Casey-Werner receives its share, the company filed suit,
he said.
    The suit asked the court to place all funds due
Casey-Werner in a trust, and for Viacom to account for all
funds received.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9441" NEWID="4528">
<DATE>12-MAR-1987 16:24:16.95</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;f0494&#31;reute
f f BC-******U.S.-SELLS-1-YE   03-12 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. SELLS 1-YEAR BILLS AT AVERAGE 5.68 PCT, STOP 5.68 PCT, AWARDED AT HIGH YIELD 71 PCT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9442" NEWID="4529">
<DATE>12-MAR-1987 16:25:29.77</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>kenya</D><D>south-africa</D></PLACES>
<PEOPLE><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0497&#31;reute
d f AM-MOI 1STLD-(WRITETHROUGH)  03-12 0125</UNKNOWN>
<TEXT>&#2;
<TITLE>KENYAN LEADER APPEALS FOR U.S. INVESTMENT</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>President Reagan today had talks
with Kenyan President Daniel Arap Moi, who afterwards appealed
for more U.S. investment in Kenya and a deeper American
commitment to ending apartheid in South Africa.
    A senior administration official said that during the talks
Reagan stressed to Moi the importance of Kenya's maintaining
its high standards on human rights.
    The official said South Africa had not been a contentious
issue in the talks and that the two leaders had found a lot of
common ground on the issue. 
    The administration has practiced a policy of "constructive
engagement" with South Africa and accepted trade sanctions only
after they had been imposed by Congress.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9443" NEWID="4530">
<DATE>12-MAR-1987 16:25:57.37</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F A RM
&#22;&#22;&#1;f0500&#31;reute
f f BC-dome-petroleum   03-12 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>DOME PETROLEUM SAYS MAJORITY OF LENDERS SUPPORT DEBT RESTRUCTURING PLAN
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9444" NEWID="4531">
<DATE>12-MAR-1987 16:28:54.32</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f0511&#31;reute
f f BC-dome-petroleum   03-12 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>DOME SAYS DEBT PLAN ONLY ALLOWS IT TO STRUGGLE ON AT CURRENT OIL PRICES
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9445" NEWID="4532">
<DATE>12-MAR-1987 16:31:19.33</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;f0516&#31;reute
f f BC-******U.S.-BANK-DISCO   03-12 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. BANK DISCOUNT BORROWINGS AVERAGE 148 MLN DLRS A DAY IN MARCH 11 WEEK, FED SAYS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9446" NEWID="4533">
<DATE>12-MAR-1987 16:31:28.39</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;f0517&#31;reute
f f BC-******U.S.-BANK-NET-F   03-12 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. BANK NET FREE RESERVES 660 MLN DLRS IN TWO WEEKS TO MARCH 11, FED SAYS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9447" NEWID="4534">
<DATE>12-MAR-1987 16:31:57.89</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;f0519&#31;reute
f f BC-******U.S.-M1-FALLS-6   03-12 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. M1 FALLS 600 MLN DLRS IN MARCH 2 WEEK, FEB M2 DOWN 1.6 BILLION, M3 UP 3.0 BILLION
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9448" NEWID="4535">
<DATE>12-MAR-1987 16:32:22.70</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0522&#31;reute
d f BC-&lt;PHOENIX-STEEL-CORP>   03-12 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;PHOENIX STEEL CORP> IN NEW DEBT AGREEMENT</TITLE>
<DATELINE>    CLAYMONT, Del., March 12 - </DATELINE><BODY>Phoenix Steel Corp said it
reached a revised debt reorganization agreement under which its
unsecured trade creditors would receive up to 50 cts on the dlr
as well as a share in future profits or sale proceeds.
    Phoenix said it arranged the new agreement with its major
shareholder, &lt;Guardian Ventures>, and a committee representing
its unsecured creditors. The pact, the company said, replaces a
plan that was proposed last December.
    The plan must be approved by April 1 by 80 pct of Phoenix's
unsecured and other creditors, the company said.
    Phoenix said the new plan increases the amount to be paid
unsecured creditors to 50 cts from 40 cts on the dlr and adds
terms for creditor participation in future profits or sale
proceeds.
    In exchange, the company said the creditors must agree not
to sue the company or force it into involuntary bankruptcy.
    The creditors must also withdraw claims against Phoenix,
Guardian and others, Phoenix said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9449" NEWID="4536">
<DATE>12-MAR-1987 16:32:51.31</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;f0525&#31;reute
h f BC-PRINCEVILLE-&lt;PVDC>-TO   03-12 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>PRINCEVILLE &lt;PVDC> TO SELL ITS AIR OPERATION</TITLE>
<DATELINE>    HONOLULU, March 12 - </DATELINE><BODY>Princeville Development Corp and
&lt;Aloha Inc>, parent of Aloha Airlines Inc, jointly said they
agreed to terms for the sale of Princeville Airways Inc to
Aloha. Terms of the agreement were not disclosed.
    Under the proposed sale, the companies said Aloha would
acquire the entire Princeville Airways commuter operation and
access to the Princeville Airport on the island of Kauai.
    They said Princeville Airways is expected to operate as a
subsidiary of Aloha Inc and will continue to use the
Princeville Aiways name.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9450" NEWID="4537">
<DATE>12-MAR-1987 16:32:57.85</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;f0526&#31;reute
r f BC-NEW-HAMPSHIRE-SAVINGS   03-12 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW HAMPSHIRE SAVINGS &lt;NHSB> TO BUY BANK</TITLE>
<DATELINE>    CONCORD, N.H., March 12 - </DATELINE><BODY>New Hampshire Savings Bank Corp
said it agreed to buy &lt;Seashore Bankshares Inc> in an exchange
of stock.
    According to the terms of the deal, it said Seashore's
61,000 shares will be exchanged for 9.8 mln dlrs of New
Hampshire Savings stock.
    It said Seashore Bankshares has assets of about 46 mln
dlrs.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9451" NEWID="4538">
<DATE>12-MAR-1987 16:33:04.56</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F E
&#22;&#22;&#1;f0527&#31;reute
w f BC-INVACARE-&lt;IVCR>-WINS   03-12 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>INVACARE &lt;IVCR> WINS PATENT INFRINGEMENT CASE</TITLE>
<DATELINE>    ELYRIA, Ohio, March 12 - </DATELINE><BODY>Invacare Corp said the Canadian
Federal Court ruled in favor of it in a patent infringement
action filed against Everest and Jennings Canadian Ltd.
    The court ordered that Everest respond in an undisclosed
amount of damages to Invacare for its actions.
    A corresponding case is currently pending in the U.S.
District Court for the Northern District of Illinois.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9452" NEWID="4539">
<DATE>12-MAR-1987 16:33:17.00</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0528&#31;reute
r f BC-SYSTEMS-ASSURANCE-&lt;SA   03-12 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>SYSTEMS ASSURANCE &lt;SAC> GETS MANAGEMENT CHANGES</TITLE>
<DATELINE>    JENKINTOWN, Pa., March 12 - </DATELINE><BODY>Systems Assurance Corp said its
board elected Charles Scott as chairman and chief executive
officer.
    He replaces Ronald Grant, who will remain a director with
the company, Systems said.
    Scott is president of Insurance Data Processing Inc &lt;IDP>,
which is the majority stockholder of Systems Assurance, the
company said.
    Two new board members, John Kreisler and James McInerney,
were named executive vice president and senior vice president
at SAC, respectively, according to the company.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9453" NEWID="4540">
<DATE>12-MAR-1987 16:33:47.36</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0530&#31;reute
r f BC-CHRYSLER-&lt;C>-TO-PUT-F   03-12 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>CHRYSLER &lt;C> TO PUT FOUR PLANTS ON OVERTIME</TITLE>
<DATELINE>    DETROIT, March 12 - </DATELINE><BODY>Chrysler Corp's Chrysler Motors unit
said it will put four of its U.S. assembly plants on overtime
during the week of March 16.
    Three of the plants will also operate Saturday, March 14,
beyond the normal five-day work week.
    Chrysler facilities at Newark, Del., Sterling Heights,
Mich., Warren, Mich., and the Jefferson plant in Detroit will
work overtime hours during the week. Newark, Sterling Heights
and Jefferson will work Saturday.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9454" NEWID="4541">
<DATE>12-MAR-1987 16:34:43.79</DATE>
<TOPICS><D>orange</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0531&#31;reute
u f BC-fcoj-movements   03-12 0139</UNKNOWN>
<TEXT>&#2;
<TITLE>FCOJ MOVEMENT 3,915,370 GALLONS LAST WEEK</TITLE>
<DATELINE>    WINTER HAVEN, FLA., March 12 - </DATELINE><BODY>Florida Citrus Processors
Association said frozen concentrate orange juice movement into
trade channels in the week ended March 7 totalled 3,915,370
gallons versus 3,956,126 gallons in the week ended February 28
and 4,284,693 gallons in the corresponding year-ago period.
    There were 3,814,891 gallons of foreign imports last week
versus 133,505 gallons the week before. Domestic imports last
week were 306,031. Retail movement was 1,652,916 versus
2,015,953 a year ago. Bulk movement was 1,934,494 against
1,954,103 a year earlier.
    Current season cumulative movement was 60,480,375 gallons
versus 59,654,702 last year. Cumulative net pack for the season
was 80,359,978 versus 74,071,755 a year ago. Inventory was
83,422,435 versus 81,963,040 a year ago.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9455" NEWID="4542">
<DATE>12-MAR-1987 16:35:31.87</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;f0533&#31;reute
r f BC-HARCOURT-BRACE-&lt;HBJ>   03-12 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>HARCOURT BRACE &lt;HBJ> MAY BE LOWERED BY MOODY'S</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Moody's Investors Service Inc said it
may downgrade 200 mln dlrs of debt of Harcourt Brace Jovanovich
Inc.
    The rating agency cited Harcourt Brace's recent aggressive
acquisition activity and increasing leverage.
    Harcourt Brace has offered 220 mln dlrs for Harper and Row
Publishers, Moody's noted. This follows Harcourt's completed
acquisitions of the publishing group of CBS Inc and Marineland.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9456" NEWID="4543">
<DATE>12-MAR-1987 16:37:45.75</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;f0542&#31;reute
h f BC-PACO-PHARMACEUTICAL-&lt;   03-12 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>PACO PHARMACEUTICAL &lt;PPS> OPENS ON NYSE</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Paco Pharmaceutical Services Inc said
its common stock began trading today on the New York Stock
Exchange.
    The company's stock opened at 26-3/4 and closed at 26-1/8
on 21,900 shares traded.
      Paco said NASDAQ will continue to carry its common stock
warrants due to expire Decmber 31 under the symbol &lt;PPSIW> and
its convertible debentures issued February six under the symbol
&lt;PPSIG>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9457" NEWID="4544">
<DATE>12-MAR-1987 16:38:24.37</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;f0543&#31;reute
b f BC-u.s.-money-supply-m-1   03-12 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. M-1 MONEY SUPPLY FALLS 600 MLN DLRS</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>U.S. M-1 money supply fell 600 mln
dlrs to a seasonally adjusted 738.0 billion dlrs in the March 2
week, the Federal Reserve said.
    The previous week's M-1 level was revised to 738.6 billion
dlrs from 738.5 billion, while the four-week moving average of
M-1 rose to 737.1 billion dlrs from 736.8 billion.
    Commenting on February growth of the broader monetary
aggregates, the Fed said that M-2 fell 1.6 billion dlrs, while
M-3 rose three billion. Economists polled by Reuters had
projected a 900 mln dlr fall in M-1, a 1.8 billion dlr drop in
M-2 and no change in M-3.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9458" NEWID="4545">
<DATE>12-MAR-1987 16:39:40.33</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>iran</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0545&#31;reute
u f BC-REAGAN-NORTH   03-12 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>JUDGE DISMISSES NORTH'S LAWSUIT CHALLENGING IRAN</TITLE>
<DATELINE>    WASHINGTON, March 12, Reuter - </DATELINE><BODY>A U.S. judge today dismissed
a lawsuit by fired White House aide Lt. Col. Oliver North
seeking to halt a special prosecutor's investigation into the
Iran arms scandal.
    In a 21-page ruling, U.S. District Court Judge Barrington
Parker threw out North's suit challenging the constitutionality
of the law empowering special prosecutor  Walsh to investigate
secret arms sales to Iran and the diversion of profits to
"contra" rebels in Nicaragua.
    "The nation demands an expeditious and complete disclosure
of our government's involvement in the Iran-contra affair,"
Parker ruled.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9459" NEWID="4546">
<DATE>12-MAR-1987 16:40:30.73</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;f0548&#31;reute
r f BC-dome-pete-debt-plan   03-12 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>DOME &lt;DMP> SAYS MOST LENDERS SUPPORT DEBT PLAN</TITLE>
<DATELINE>    CALGARY, Alberta, March 12 - </DATELINE><BODY>Dome Petroleum Ltd said a
majority of a group of 56 major creditors support the company's
revised proposal to restructure debt of more than 6.1 billion
Canadian dlrs.
    Outlining terms of the plan circulated to the lenders
earlier this week, the company said it is seeking approval in
principle for the proposal "within the next several weeks" in
order to implement the debt rescheduling by June 30, 1987.
    "Although at today's price levels it only allows the company
to struggle on, benefits appear as oil prices rise," Dome
chairman J. Howard Macdonald said in a statement.
    "We believe the plan is a rational one, and will be valid
under a range of circumstances," chairman Macdonald said.
    The lenders previously agreed to an interim debt
rescheduling until June 30 to allow Dome time to negotiate a
long-term recapitalization.
    The debt proposal is designed to ensure continued existence
of the company, which would see lenders get maximum recovery of
their loans, Dome said.
    The plan would maintain debt levels within Dome's ability
to pay, subject to minimum debt service levels for each lender.
    Dome said the debt proposal offers measures such as equity
conversion options and reclassification to lower interest
bearing categories of debt to accomplish its objectives.
    Under certain circumstances, lenders will have the option
to convert all or part of their debt to common shares at a
pre-determined conversion rate upon plan implementation.
    The various conversion rates remain to be set through
negotiations, and the company said it is impossible to predict
the extent to which the conversion option will be exercised and
the amount of dilution that may result.
    Converting debt to common shares after the plan is
implemented would be at a much higher conversion price, Dome
said.
    Common shareholders will be asked to approve the plan
before it is put in place.
    Debt that remains after share conversion will either
receive scheduled payments based on contract interest rates and
a 15 to 20 year pay-out, or interest rates indexed to oil
prices. The company will use both an annual security-to-debt
ratio test and a monthly cash flow test to classify which
interest payments are paid on the different portions of debt.
    To achieve a stable operating base for the company, the
plan provides for deducting operating costs, capital
expenditures and general and administrative expenses before the
remaining available cash flow is distributed to lenders, Dome
said.
    The proposal also assumes efforts will continue to operate
the business as efficiently as possible, it said.
    As the company previously said, debt payments from cash
flow be divided into two broad categories, secured and
unsecured creditors.
    Terms of the debt plan include paying institutional
unsecured creditors, comprising mostly banks who hold private
debt, from cash flow generated by unpledged assets. This
portion will get a fixed low interest rate under a 15-year
repayment schedule.
    Remaining institutional unsecured debt will get paid
through convertible, oil indexed unsecured debt that matures in
20 years, or any available excess cash flow, or conversion to
equity. Any institutional lender also has the option of taking
all or part of its debt in common shares.
    To offer public unsecured debtholders liquidity, Dome said
they can also convert all or part of their debt to common
shares when the plan is implemented. Any debt leftover would be
exchanged for a convertible debenture with an interest rate
linked to oil prices.
    Secured creditors would get paid from cashflow generated by
the assets pledged against their debt under a complex formula,
the company said.
    Any shortfalls under the formula could also be converted to
oil-linked debentures.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9460" NEWID="4547">
<DATE>12-MAR-1987 16:41:37.50</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0550&#31;reute
u f BC-VOLCKER-SEES-PROBLEMS   03-12 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>VOLCKER SEES PROBLEMS REMAINING IN SOME SECTORS</TITLE>
<DATELINE>    LOS ANGELES, March 12 - </DATELINE><BODY>Federal Reserve Board Chairman Paul
Volcker said severe problems remain in some sectors of the U.S.
economy despite progress in others.
    "Severe problems in some sectors of the economy are all too
obvious," he said in remarks prepared for delivery to a
luncheon of business leaders here.
    He said oil exploration and development, as well as
agricultural prices, have been heavily affected by worldwide
surpluses.
    Commercial construction, he said, is suffering from earlier
over-building in many areas.
    More broadly, he said, there are distortions and imbalances
in the U.S. economy that cut across many sectors.
    "Unless dealt with effectively and forcibly, they will
undermine all that has been achieved," Volcker warned.
    He said one problem is that economic activity over the past
two years has been supported largely by consumption.
    He said that rising consumption was achieved at the expense
of reduced personal savings. At the same time, he said, the
huge Federal budget deficit is absorbing a disproportionate
amount of the savings generated in the U.S.
    Volcker said the adverse consequences of the combination of
low savings rates and high Federal budget deficits have been
escaped by drawing on capital from abroad.
    He noted that the net flow of foreign capital into the U.S.
in 1986 exceeded all the savings by U.S. households.
    "That is a graphic demonstration of the extent to which
our financial markets are hostage to possible changes in
external attitudes and circumstances," Volcker said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9461" NEWID="4548">
<DATE>12-MAR-1987 16:42:02.75</DATE>
<TOPICS><D>gnp</D><D>cpi</D><D>reserves</D></TOPICS>
<PLACES><D>bolivia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f0552&#31;reute
r f BC-bolivia-to-offer-to-b   03-12 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>BOLIVIA TO OFFER TO BUY BACK BANK DEBT</TITLE>
<AUTHOR>    By Paul Iredale, Reuters</AUTHOR>
<DATELINE>    LA PAZ, March 12 - </DATELINE><BODY>Bolivia is to make a formal offer during
the next few months to buy back its 900 mln dlrs debt from
commercial banks at a discount of up to 90 pct, central bank
president Jier Nogales said.
     Nogales told Reuters in an interview the steering
committee of Bolivia's creditor banks had agreed to consider
the offer at a meeting in New York last month.
     He said the offer would be based on the value of Bolivian
paper on the international secondary debt market, where it now
trades at between 10 and 15 pct of its face value.
    Nogales said Bolivia will make a single offer to buy back
its commercial debt and banks who accepted would be paid the
discounted rate in full.
    Banks which declined the offer would be repaid over 20 to
30 years at interest rates below those fixed in the
international markets, he added.
    Bolivia has frozen payments on medium and long term loans
to commercial banks since March, 1984, and Nogales said there
would be no money available to restart traditional debt
servicing to them for some time.
     Several Latin American countries have initiated schemes to
cancel foreign debt by equity swaps or third party buy-backs,
but Bolivia would be the first country in the region to make a
formal offer to buy back all its commercial bank debt at
discounted rates.
    Nogales said practical and strategic considerations would
determine the exact timing of the offer but it would be made in
the next few months.
     He said Bolivia would not bargain with creditor banks over
the price to paid for the debt paper they hold, and would make
a single non-negotiable offer.
    He said Bolivia could not even pay interest to friendly
creditor countries, let alone commercial banks. The only
traditional way forward was to capitalise interest, which would
mean greater bank exposure in Bolivia and greater loss
provisions, he added.
    "We are confident that the banks are going to be
reasonable," Nogales said. "Now they can resolve their problems
for once and for all."
    "The most conservative ones who want a little more will
wait a year, but I don't know if the window of opportunity will
be open all the time," he added.
    Discussing the status of other parts of Bolivia's four
billion dlr foreign debt, 2.5 billion of which is owed to
governments and the rest to international agencies, Nogales
said negotiators had achieved considerable success in recent
discussions with the Paris Club.
     He said Paris Club creditors had agreed to reschedule
Bolivian debt over 10 years with five to six years grace, while
accepting that interest would not be paid until 1989. Interest
rates were being discussed on a bilateral basis under Paris
Club rules, he added.
     He said some Paris Club members had agreed to disregard
penalty interest payments and negotiations were continuing with
Argentina and Brazil, who hold 700 mln dlrs of Bolivian debt.
    He said Bolivia was continuing to service loans from
international agencies, and it expected to receive up to 400
mln dlrs in disbursements this year.
    The capital flow for loans and their servicing had changed
from a negative balance of 250 mln dlrs in 1985 to a net inflow
of 130 mln dlrs last year, he added.
    Nogales said that Bolivia's net international reserves now
stood at around 250 mln dlrs, compared to one mln dlrs in
disposable funds when the government of Victor Paz Estenssoro
took office in August, 1985.
    Nogales said inflation, which soared to over 20,000 pct a
year in the government's first month in office, was now down to
10 pct on an annualised basis from the last six months, and the
plan was that it should continue at this level.
    He said the government was also expecting at least three
pct growth in gdp this year after several years of negative
rates.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9462" NEWID="4549">
<DATE>12-MAR-1987 16:42:41.29</DATE>
<TOPICS><D>grain</D><D>wheat</D><D>oilseed</D><D>soybean</D><D>cotton</D><D>rice</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0554&#31;reute
r f BC-U.S.-MARKET-LOAN-NOT   03-12 0132</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. MARKET LOAN NOT THAT ATTRACTIVE-BOSCHWITZ</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>A marketing loan for U.S. wheat,
feedgrains and soybeans would do nothing to help the surplus
production situation and would be extremely costly, Sen. Rudy
Boschwitz (R-Minn.) said.
    "I think I would not support a marketing loan now," he told
the House agriculture subcommittee on wheat, soybeans and
feedgrains. Boschwitz was one of the original supporters of a
marketing loan for cotton and rice, but has since focused
support on decoupling legislation, the Boren/Boschwitiz bill.
    A market loan for grains and soybeans would encourage more
production, especially in high-yielding areas, would be much
more expensive than the current cotton and rice marketing loans
and not increase exports significantly, he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9463" NEWID="4550">
<DATE>12-MAR-1987 16:42:50.90</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0555&#31;reute
h f BC-FARM-EQUIPMENT-RETAIL   03-12 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>FARM EQUIPMENT RETAIL SALES FALL IN FEBRUARY</TITLE>
<DATELINE>    CHICAGO, March 12 - </DATELINE><BODY>Sale of farm wheel tractors in February
declined 26.7 pct to 4,123 units from 5,627 units a year ago,
reported the Farm and Industrial Equipment Institute.
    Year to date, total tractor sales fell 21.7 pct to 10,354
units from 13,231 units a year ago.
    The trade group said in the two-wheel drive sector, 2,477
under 40 horsepower tractors were sold compared to 2,479 a year
ago during the month, while in the 40 to 100 horsepower sector,
1,323 units were sold compared to 1,810 units.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9464" NEWID="4551">
<DATE>12-MAR-1987 16:44:19.39</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;f0558&#31;reute
u f BC-AMVESTORS-FINANCIAL-&lt;   03-12 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>AMVESTORS FINANCIAL &lt;AVFC> SETS STOCK DIVIDEND</TITLE>
<DATELINE>    TOPEKA, Kan., March 12 - </DATELINE><BODY>AmVestors Financial Corp said it
declared a 25 pct stock dividend payable June 19 to holders of
record June one, subject to an increase in authorized shares.
    It said shareholders will vote at the April 23 annual
meeting to increase authorized shares to 25 mln from 10 mln.
    The company also said it plans to pay an initial quarterly
dividend of five cts a share on the shares.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9465" NEWID="4552">
<DATE>12-MAR-1987 16:44:51.68</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F RM
&#22;&#22;&#1;f0560&#31;reute
u f BC-U.S.-HOUSE-PANEL-APPR   03-12 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. HOUSE PANEL APPROVES TRADE BILL</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>The House Ways and Means Trade 
Subcommittee unanimously approved a toned-down version of
legislation designed to toughen U.S. trade laws and wedge open
foreign markets to more U.S. goods.
    The measure now goes to the full House Ways and Means
Committee next week, but major changes are not expected,
congressional sources said.
    "This product could very well be toughening our trade policy
and doing it in a manner that opens markets without this
frightening word 'protectionism'," Ways and Means chairman Dan
Rostenkowski, an Illinois Democrat said.
    The trade subcommittee backed away from mandating specific
retaliation against foreign countries for unfair foreign trade
practices as the House had approved in a trade bill last year.
    But it held over for the full Ways and Means Committee
debate on a controversial plan by Rep. Richard Gephardt to
mandate a reduction in trade surpluses with the U.S. by
countries such as Japan, South Korea and Taiwan.
    Gephardt, a Missouri Democrat, has not decided the exact
form of his amendment, an aide said. Last year the House
approved his idea to force an annual ten pct trade surplus cut
by those countries. 
    The trade bill will be wrapped in with legislation from
other committees dealing with relaxation of export controls,
incentives for research, expanded worker training and education
and other efforts to increase U.S. competitiveness.
    The comprehensive trade bill is to be considered by the
full House in late April and then will be considered by Senate
committees.
    It requires President Reagan to retaliate against foreign
unfair trade practices but do not mandate quotas or tariffs and
allow an exemption if U.S. economic security would be harmed by
U.S. actions against other countries.
    The bill would make it easier for U.S. industries to win
relief from surges of imports of competitive products.
    It extends until January 1993, the administration's
authority to negotiate trade agreements as part of the new
round of multilateral talks under the General Agreements on
Tariffs and Trade.
    And, it includes provisions to tighten trade rules on
copyrights, patents and telecommunications goods.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9466" NEWID="4553">
<DATE>12-MAR-1987 16:46:24.74</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0566&#31;reute
d f BC-ROCHESTER-GAS-&lt;RGS>-O   03-12 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>ROCHESTER GAS &lt;RGS> OFFERED PRD SHARES</TITLE>
<DATELINE>    ROCHESTER, N.Y., March 12 - </DATELINE><BODY>Rochester Gas and Electric Corp
said 300,000 shares of 8.25 pct preferred stock, series R, will
be offered at 100 dlrs per share plus accrued dividends, if
any, from the date of the original issue.
    It said The First Boston Corp &lt;FBC> and &lt;E.F. Hutton and Co
Inc> are co-underwriters of the issue.
    It said net proceeds of the offering will be used to redeem
its 10.84 pct preferred stock, series G, which is currently
callable at 107 dlrs per share and for other corporate
purposes.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9467" NEWID="4554">
<DATE>12-MAR-1987 16:47:15.87</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;f0568&#31;reute
d f BC-STANDARD-LOGIC-INC-&lt;S   03-12 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>STANDARD LOGIC INC &lt;STDL> 1ST QTR LOSS</TITLE>
<DATELINE>    CORONA, Calif., March 12 - </DATELINE><BODY>Qtr ends Jan 30
    Oper shr loss 45 cts vs profit 44 cts
    Oper Net loss 225,815 vs profit 219,593
    Revs 175,247 vs 827,748
    NOTE: oper net 1987 excludes loss from discontinued
operations of 125,047 vs loss 34,055 for prior qtr.
    excludes tax carryforward 150,000 for prior qtr.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9468" NEWID="4555">
<DATE>12-MAR-1987 16:48:07.86</DATE>
<TOPICS><D>cpi</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0572&#31;reute
u f BC-INFLATION-STILL-A-CON   03-12 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>INFLATION STILL A CONCERN, VOLCKER SAYS</TITLE>
<DATELINE>    LOS ANGELES, March 12 - </DATELINE><BODY>Federal Reserve Board Chairman Paul
Volcker said both the Fed and the financial markets remain
concerned about the possibility of renewed inflation.
    "A possibility of renewed inflation remains of concern,
both in the markets and within the Federal Reserve," he said in
remarks prepared for delivery to a group of business leaders
here.
    He said one potential channel for renewed inflationary
pressures would be an excessive fall of the dollar in the
exchange markets, which would push import prices up sharply.
    He said participants in financial markets and business
remain skeptical of prospects for lasting price stability.
    "Should the skepticism about our ability to resist
inflation be reinforced by bad policy, the consequences for
interest rates, for exchange rates, and for the economy
generally would clearly be undesirable...recognition of that
danger neccesarily must weigh heavily in the formation of
monetary policy," the Fed chairman said.
    Volcker said attempts to drive the dollar much lower would
undermine the hard won gains against inflation and would risk
dissipating the flow of foreign capital.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9469" NEWID="4556">
<DATE>12-MAR-1987 16:48:48.23</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0575&#31;reute
u f BC-GEORGIA-PACIFIC-&lt;GP>   03-12 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>GEORGIA-PACIFIC &lt;GP> TO REDEEM PREFERRED ISSUES</TITLE>
<DATELINE>    ATLANTA, March 12 - </DATELINE><BODY>Georgia-Pacific Corp said it will
redeem all 3,267,019 shares of its outstanding series A, B, B
second issue and C adjustible rate convertible preferred stock
on April 15.
    The company said it will redeem all four series at 39 dlrs
a share, plus nine cts in dividends accrued from April one to
April 15.
    First quarter preferred dividends will be paid separately
on April one to holders of record March six, the company said.
    It said holders may convert each share of their preferred
stock into one share of common through April 15.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9470" NEWID="4557">
<DATE>12-MAR-1987 16:50:51.14</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;f0583&#31;reute
r f BC-NZI-CORP-UNIT-SELLS-G   03-12 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>NZI CORP UNIT SELLS GUARANTEED NOTES AT 8.36 PCT</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>NZI Capital Corp, a unit of &lt;NZI
Corp>, is offering 150 mln dlrs of guaranteed notes due 1997
yielding 8.36 pct, said sole manager Kidder, Peabody and Co
Inc.
    The notes have an 8-1/4 pct coupon and were priced at
99.261 to yield 115 basis points more than comparable Treasury
securities. Non-callable for seven years, the issue is rated
A-2 by Moody's Investors Service Inc and A-plus by Standard and
Poor's Corp.
    The notes will be listed on the New York Stock Exchange.
NZI is an insurance company in New Zealand.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9471" NEWID="4558">
<DATE>12-MAR-1987 16:51:20.76</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0585&#31;reute
b f BC-******UNOCAL-RAISES-M   03-12 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>UNOCAL RAISES MOST CRUDE PRICES 50 CTS, TODAY, WTI AT 17.50 DLRS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9472" NEWID="4559">
<DATE>12-MAR-1987 16:52:21.64</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f0588&#31;reute
f f BC-cantire   03-12 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>COURT UPHOLDS SECURITIES PANEL DECISION TO BLOCK CTC DEALERS' CANADIAN TIRE OFFER
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9473" NEWID="4560">
<DATE>12-MAR-1987 16:59:03.74</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;f0602&#31;reute
s f BC-SHAWMUT-CORP-&lt;SHAS>-S   03-12 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>SHAWMUT CORP &lt;SHAS> SETS REGULARY DIVIDEND</TITLE>
<DATELINE>    BOSTON, March 12 - 
    </DATELINE><BODY>Qtly div 51 cts vs 51 cts prior
    Pay April one
    Record March 23
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9474" NEWID="4561">
<DATE>12-MAR-1987 17:01:20.43</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0611&#31;reute
b f BC-******KENNETH-DUBERST   03-12 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>KENNETH DUBERSTEIN TO BE DEPUTY WHITE HOUSE CHIEF OF STAFF, OFFICIALS SAY
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9475" NEWID="4562">
<DATE>12-MAR-1987 17:01:26.73</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>south-africa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0612&#31;reute
u f BC-ANGLO-AMERICAN-&lt;AIVJ.   03-12 0074</UNKNOWN>
<TEXT>&#2;
<TITLE>ANGLO AMERICAN &lt;AIVJ.J> YEAR TO DEC 31</TITLE>
<DATELINE>    JOHANNESBURG March 13 -
    </DATELINE><BODY>Shr 516 cts vs 347
    Final div 135 vs 125 making 190 vs 180
    Pre-tax 133 mln rand vs 137 mln
    Net 260 mln vs 172 mln
    Tax 76 mln vs 42 mln
    Att to outside shareholders 96 mln vs 53 mln
    Pref div 1 mln vs same
    Turnover 3.14 billion vs 2.56 billion
    Div pay May 8, register March 27.
    Note - Full name is Anglo American Industrial Corp Ltd.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9476" NEWID="4563">
<DATE>12-MAR-1987 17:02:16.19</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0617&#31;reute
r f BC-WISCONSIN-ELECTRIC-&lt;W   03-12 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>WISCONSIN ELECTRIC &lt;WTC> TO CALL PREFERRED</TITLE>
<DATELINE>    MILWAUKEE, March 12 - </DATELINE><BODY>Wisconsin Energy Corp's Wisconsin
Electric Power Co said it will redeem its 100 dlr par value
serial preferred stock on April 14.
    Wisconsin Electric said it will redeem 333,325 shares of
its 8.9 pct preferred at 101 dlrs a share, 225,810 shares of
its 7.75 pct preferred at 101 dlrs a share, and 140,967 shares
of its 8.8 pct preferred at 105.87 dlrs a share.
    The redemption will be financed from a new issue of the
company's preferred stock.
    First Wisconsin Trust Co will be the redemption agent.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9477" NEWID="4564">
<DATE>12-MAR-1987 17:03:19.49</DATE>
<TOPICS><D>l-cattle</D><D>livestock</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;f0622&#31;reute
d f BC-media-summary   03-12 0120</UNKNOWN>
<TEXT>&#2;
<TITLE>LIVE CATTLE RALLY AS LOCKOUT AT MEAT PLANT ENDS</TITLE>
<DATELINE>    CHICAGO, March 12 - </DATELINE><BODY>Live cattle futures posted a robust
rally today after a major beef packing company said it would
end a lockout at its slaughtering plant in Dakota City, Neb.
    April delivery cattle on the Chicago Mercantile Exchange
closed at 64.45 cents a pound, up 0.83 cent, as the market
expected demand for live animals to increase as the plant
restarts operations.
    Iowa Beef Processors, a division of Occidental Petroleum,
said it planned to reopen the plant, one of the largest in the
nation, on March 16. The plant has been closed since Dec. 14,
the day after a contract between IBP and Local 222 of the
United Food and Commercial Workers Union expired.
    The plant employs 2,800 workers and can slaughter several
thousand animals a day, a company spokesman said.
    The company said it locked out union workers because they
threatened to disrupt operations. It was unclear whether union
meatpackers would return to work. They rejected the company's
latest contract offer March 5.
    Traders said cattle prices advanced at midsession as rumors
circulated that the lockout was ending, and gains were further
fueled by a noticeable increase in demand for live animals on
cash markets in Nebraska and the Texas Panhandle.
    The rally in cattle also boosted values of live hogs and
frozen pork bellies, which also were supported by indications
that producers were expanding their hog herds at a slower rate
than previously expected.
    Petroleum futures posted a modest rally on the New York
Mercantile Exchange.
    But a report that the Soviet Union planned to reduce the
price of its crude oil exports may pressure the market Friday,
said Nauman Barakat, petroleum analyst in New York with Smith
Barney, Harris Upham and Co.
    Buying by companies that deal in petroleum helped prices
recover from early weakness, traders said.
    Gold futures rallied, partly in response to strength in the
silver market, on the Commodity Exchange in New York. Silver
prices rallied after a U.S. brokerage house recommended its
customers buy the metal, traders said.
    Coffee futures drifted lower in response to a report that
Colombia lowered the price of its exports, traders said.
    Sugar prices closed slightly higher on the Coffee, Sugar
and Cocoa Exchange despite a large export sale by the European
Commission on Wednesday.
    Soybeans were higher, wheat lower and corn mixed on the
Chicago Board of Trade.
    Soybeans were boosted by expectations that the Agriculture
Department would report a healthy signup for the Conservation
Reserve Program, which pays farmers to leave highly erodible
land idle instead of planting a crop, traders said.
    Concern that a strike by Brazilian seamen might interrupt
exports of soybeans from Brazil, where the harvest is just
beginning, also underpinned prices, they said.
    Wheat prices were pressured by selling in response to
trends on price charts, they said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9478" NEWID="4565">
<DATE>12-MAR-1987 17:04:40.93</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F
&#22;&#22;&#1;f0627&#31;reute
b f BC-NORTEL   03-12 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>NORTHERN TELECOM TO REDEEM CLASS A SERIES ONE PREFERREDS ON APRIL 27
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9479" NEWID="4566">
<DATE>12-MAR-1987 17:06:57.52</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;f0634&#31;reute
r f BC-MOODY'S-CONFIRMS-PUBL   03-12 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>MOODY'S CONFIRMS PUBLIC SERVICE ELECTRIC &lt;PEG></TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Moody's Investors Service said it has
confirmed its ratings on about 4.4 billion dlrs of outstanding
securities of Public Service Electric and Gas Co, a unit of
Public Service Enterprise Group Inc.
    The ratings include Aa3-rated first and refunding mortgage
bonds, secured pollution control revenue bonds and Eurobonds.
    Although Public Service recently received a disappointing
rate order from the New Jersey Board of Public Utilities, the
agency believes the company's strong financial management
should help maintain debt-protection measurements within
current levels over the next few years.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9480" NEWID="4567">
<DATE>12-MAR-1987 17:08:40.26</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;f0635&#31;reute
u f BC-JAPAN-FUND-&lt;JPN>-TO-P   03-12 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN FUND &lt;JPN> TO PROPOSE CONVERSION</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Japan Fund Inc said its board would
recommend at its April 23 stockholders meeting that the Fund be
converted to a no-load open-end fund.
    If approved, the Fund said a redemption fee of one pct of
net asset value will be imposed on redemptions for a period of
time not to exceed six months after open-ending.
    It said such a redemption fee is designed to cover
trasaction costs related to early redemptions and will remain
in the assets of the Fund.
    It said Shearson Lehman Brothers is serving as its
financial advisor.
    In a prepared statement, Jonathan Mason, Japan Fund's
chairman, said "open-ending, which is timely, given the
expansion of the Japanese stock markets, particularly in the
last few years, will eliminate the discount from net asset
value and will afford investors the continuing opportunity for
investment in Japan through the Japan Fund."
    Japan Fund said it proposed the conversion to an open-end
fund after rejecting a takeover offer of about 525 mln dlrs
from an investment group led by T. Boone Pickens III, son of
the Texas oilman.
    The investor group, whose other members include &lt;Sterling
Grace Capital Fund LP> and &lt;Anglo American Security Fund LP>,
could not be reached tonight for comment.
    When it made its takeover offer on March 3, the group said
it owned 1.4 mln shares, or about 4.9 pct, of the fund's
outstanding stock.
    Asked to comment on the rejection of the investor group's
offer, a Japan Fund spokeswoman said, "The board decided that
an open-end fund was preferable."
    The spokeswoman, Davia B. Temin, said no other comments
would be made on the offer.
    She also declined to provide details on other options Japan
Fund said previously that it would consider along with the
takeover bid.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9481" NEWID="4568">
<DATE>12-MAR-1987 17:09:35.81</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0638&#31;reute
h f BC-GENERAL-ELECTRIC-&lt;GE>   03-12 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL ELECTRIC &lt;GE> NEW JET ENGINE TESTED</TITLE>
<DATELINE>    EVENDALE, Ohio, March 12 - </DATELINE><BODY>General Electric said its
unducted fan jet engine lived up to expectations in recently
completed tests on a Boeing Co &lt;BA> 727 airplane.
    The engine, which contains two sets of counter-rotating fan
blades, marks an advance over conventional engines built with
ultra high bypass ducted fans. The testing was a joint effort
of GE and Boeing, using technical and financial support from
the National Aeronautics and Space Administration, NASA, the
company said.
    The company said the engine has fuel savings of 40 to 70
pct over those used in aircraft used today.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9482" NEWID="4569">
<DATE>12-MAR-1987 17:10:53.68</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;f0642&#31;reute
d f BC-PERMIAN-BASIN-&lt;PBT>-P   03-12 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>PERMIAN BASIN &lt;PBT> PROVEN RESERVES FALL</TITLE>
<DATELINE>    FORT WORTH, Texas, March 12 - </DATELINE><BODY>Permian Basin Royalty Trust
said that as of December 31, 1986, its estimated proved
reserves totaled 18.5 mln barrels of oil and 52.9 mln MCF, or
thousand cubic feet, of gas.
    This compares with yearend 1985 proved reserves estimates
of 26.4 mln barrels of oil and 78.6 mln MCF of gas, Permian
said.
    Permian said December 1986 future net revenues from proved
reserves were 335.6 mln dlrs, down from 814.2 mln dlrs in 1985.
    Permian said the present value of estimated future net
revenues discounted at 10 pct is 165.3 mln dlrs, compared with
374.3 mln dlrs.
    It said the downward revisions in both proved reserves and
estimated future net revenues resulted from decreased prices for
oil and gas.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9483" NEWID="4570">
<DATE>12-MAR-1987 17:11:13.46</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;f0644&#31;reute
u f BC-WITCHING   03-12 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>SEC ASKS NYSE TO TIGHTEN TRIPLE WITCHING PROCESS</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>The Securities and Exchange
Commission asked the New York Stock Exchange to tighten an
experimental procedure used in the past six months to dampen
volatility linked to the so-called "triple-witching hour."
    The Big Board has been collecting and publicizing
information on large imbalances of "market-on-close" (MOC)
orders placed on 50 major stocks one-half-hour before closing
on so-called expiration Fridays in September and December.
    Expiration Fridays, or triple witching hours, occur every
three months when stock options, stock index options and
futures on index options expire simultaneously.
    As aribrageurs liquidated their futures and options on
previous expiration Fridays, they sold huge amounts of stock
which they had used to offset their positions.
    The huge sell orders, which usually entered the market in
the final frantic minutes on expiration Fridays triggered wild
price swings in the 50 stocks which serve as the basis for the
options and futures.
    The gyrations prompted the SEC last September to request
that the Big Board ask its members submit all MOCs by 1530 hrs
on expiration Fridays, which would then be made public, giving
the market a half-hour to settle order imbalances.
    But in a March 12 letter to NYSE President Robert Birnbaum,
SEC Director of Market Regulation cited problems in the
experimental procedure during the Dec 19 expiration Friday.
    A large number of MOC buy orders were not placed until
after 1530 EST on Dec 19, which helped send the Dow Jones
Industrial Average up 21 points in the final minutes of the day
to a 14.20-point gain on the day, Ketchum said.
    Citing the SEC's concern about such trading, Ketchum asked
the exchange to tighten its procedure by not accepting any
pre-existing MOC orders after 1530 if they could have been
placed earlier.
    The new restriction, which SEC officials said merely
clarifies the terms of the existing experimental procedure,
would bar the liquidation of stocks through MOC orders for
arbitrage purposes after 1530 hrs, even if they offset other
reported order imbalances in those stocks.
    The only MOC orders the SEC will allow to be placed after
1530 EST on March 20, the next expiration Friday, are those
that are received by Big Board member firms after 1530 EST and
which help reduce existing order imbalances, Ketchum said.
    If there are no published imbalances in a particular stock,
no MOC orders will be accepted in that stock, he said.
    "If dissemination of MOC orders is to provide an accurate
indication of true order imbalances, then all existing MOC
orders must be submitted by 3:30 p.m. and only those new MOC
orders responding to reported imbalances can be permitted,"
Ketchum said.
    The letter did not say how the SEC or the NYSE would
determine the difference between pre-existing MOC orders that
would be barred, and new MOC orders that would be allowed to
reduce imbalances. But an SEC official said the agency hopes
the NYSE and its members would adhere to the rules "in a spirit
of cooperation."
 REUTER...
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9484" NEWID="4571">
<DATE>12-MAR-1987 17:12:38.33</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0649&#31;reute
u f AM-DUBERSTEIN-TO-BE-DEPU   03-12 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>DUBERSTEIN TO BE DEPUTY WHITE HOUSE CHIEF/STAFF</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>Former White House aide Kenneth
Duberstein has been chosen to be President Reagan's deputy
chief of staff, administration officials said.
    Duberstein, who is now a Washington lobbyist, previously
served in the Reagan White House as head of the president's
congressional liaison team.
    As top assistant to White House chief of staff Howard
Baker, he will handle administrative chores and serve as a
contact point between the White House and Congress, officials
told Reuters.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9485" NEWID="4572">
<DATE>12-MAR-1987 17:15:15.34</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;f0662&#31;reute
r f BC-NORTHERN-TELECOM-&lt;NT>   03-12 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>NORTHERN TELECOM &lt;NT> TO REDEEM SOME PREFERREDS</TITLE>
<DATELINE>    TORONTO, March 12 - </DATELINE><BODY>Northern Telecom Ltd said it would
redeem its outstanding 2.1875 Canadian dlr cumulative
redeemable retractable class A series one preferred shares on
April 27 at 26.50 Canadian dlrs a share plus accrued dividends
of 0.012 dlrs a share.
    Northern Telecom issued the 4.4 mln shares in 1984 at 25
dlrs a share for total consideration of 110 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9486" NEWID="4573">
<DATE>12-MAR-1987 17:15:25.68</DATE>
<TOPICS><D>gnp</D><D>cpi</D></TOPICS>
<PLACES><D>venezuela</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f0663&#31;reute
r f BC-venezuelan-president   03-12 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>VENEZUELAN PRESIDENT DEFENDS REFINANCING ACCORD</TITLE>
<DATELINE>    Caracas, march 12 - </DATELINE><BODY>president jaime lusinchi defended the
20.3 billion dlr debt rescheduling accord his government
recently signed, saying it will open new credit flows and bring
needed foreign investment to venezuela.
    In his annual state of the nation speech, lusinchi also
said venezuela supports other latin american debtors, despite
having reached a rescheduling accord on its own.
    In the 90-minute speech to the congress, lusinchi summed up
the achievements of his administration, which took office in
february 1984. He pointed to the 3.3 pct growth in non-oil gdp
in 1986 and to a "moderate" 12 pct inflation rate.
    Lusinchi said the 20.3 billion dlr debt rescheduling signed
feb. 27 put an end to a process which had been 'the calvary of
our nation over the post four years.'
    In the refinancing accord, he said, venezuela managed to
achieve 'the most inmportant thing, which is the reopening of
financial flows from abroad, essential for the financing of
development and the (financing) of trade and investment.'
    Once all the details of the agreement are finalized, he
said, venezuela will seek new financing for the imported
components of new development projects.
    "our intention is not to continue being net exporters of
capital, but to protect our balance of payments with a flow of
capital towards venezuela," he said.
    Under the agreement signed february 27, venezuela extended
payments on the debt from 12 to 14 years, while the interest
rate was lowered from 1 y 1/8 to 7/8 of a pct over libor.
    At the same time, payments over the next three years were
lowered from 3.450 to 1.350 billion dlrs.
    Lusinchi defended the rescheduling accord against critics
who said it merely deferred the weight of payments to future
governments.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9487" NEWID="4574">
<DATE>12-MAR-1987 17:17:52.16</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>south-africa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0669&#31;reute
d f BC-ANGLO-AMERICAN-&lt;AIVJ.   03-12 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>ANGLO AMERICAN &lt;AIVJ.J> YEAR TO DEC 31</TITLE>
<DATELINE>    JOHANNESBURG March 13 -
    </DATELINE><BODY>Shr 516 cts vs 347
    Final div 135 vs 125 making 190 vs 180
    Pre-tax 133 mln rand vs 137 mln
    Net 260 mln vs 172 mln
    Tax 76 mln vs 42 mln
    Att to outside shareholders 96 mln vs 53 mln
    Pref div 1 mln vs same
    Turnover 3.14 billion vs 2.56 billion
    Div pay May 8, register March 27.
    Note - Full name is Anglo American Industrial Corp Ltd.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9488" NEWID="4575">
<DATE>12-MAR-1987 17:19:44.75</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>brazil</D></PLACES>
<PEOPLE><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0676&#31;reute
u f BC-BRAZIL-NEEDS-MORE-EXT   03-12 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL NEEDS MORE EXTERNAL FINANCING - VOLCKER</TITLE>
<DATELINE>    LOS ANGELES, March 12 - </DATELINE><BODY>Federal Reserve Board Chairman Paul
Volcker said that Brazil will need more external financing to
work its way out of its current debt crisis than earlier
anticipated.
    "External financing will have to be found in larger amounts
than anticipated a few months ago," he said in remarks prepared
for a business leader luncheon.
    Volcker said that financing, however, must take place along
with policies that come to grips with Brazil's internal
difficulties.
    Volcker said Brazil has a lot more negotiating to do with
international institutions and its bank creditors but added
that a solution to its financial problems can be found.
    "The predicate for these negotiations has to be effective
policy at home (in Brazil)," Volcker told reporters.
    "Brazil, it seems to me, has a strong self interest in
restoring a more normal situation (on interest payments) so
that it can continue to participate freely in trade with the
rest of the world - and it has so indicated," Volcker said in
his prepared remarks.
    Brazil suspended interest payments on its debt last month.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9489" NEWID="4576">
<DATE>12-MAR-1987 17:21:43.55</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;f0680&#31;reute
r f BC-UNOCAL-&lt;UCL>-RAISES-C   03-12 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>UNOCAL &lt;UCL> RAISES CRUDE OIL POSTINGS</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Unocal Corp said it raised the
contract price it will pay for most grades of crude oil 50 cts
a barrel, effective today.
    The increase brings Unocal's posted price for the U.S.
benchmark grade West Texas Intermediate to 17.50 dlrs a barrel.
It also brought the price for West Texas Sour to 17.50 dlrs a
bbl. Light Louisiana Sweet was also raised 50 cts to 17.85
dlrs/bbl.
    Unocal last changed its crude postings on March four, and
brings it price in line with other major companies, which have
been raising prices steadily in recent weeks.
    The increase also represents the latest in a series of
increases that began with USX Corp's &lt;X> Marathon Petroleum
Corp's notification yesterday evening that, effective today, it
raised its crude postings 50 cts a barrel, bringing its
contract price for WTI to 17.50 dlrs a barrel.
    Earlier today, Sun Co &lt;SUN>, Phillips Petroleum &lt;P> and
Diamond Shamrock &lt;DIA> also said they raised their crude
postings 50 cts a barrel, bringing their WTI contract price to
17.50 dlrs a barrel.
    Contract prices have risen in response to higher spot
market prices, oil traders said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9490" NEWID="4577">
<DATE>12-MAR-1987 17:24:48.72</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;F
&#22;&#22;&#1;f0695&#31;reute
r f BC-MEATPACKERS-RESPOND-T   03-12 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>MEATPACKERS RESPOND TO OCCIDENTAL&lt;OXY> OFFER</TITLE>
<DATELINE>    CHICAGO, March 12 - </DATELINE><BODY>Local 222 of the United Food and
Commercial Workers Union said it is calling a membership
meeting, possibly Sunday, to discuss its response to a decision
by Iowa Beef Processors Inc to lift a lockout at its Dakota
City, Nebraska plant and resume operations.
    The UFCWU will consider all options available to it
including a strike or returning to work under IBP's last labor
contract proposal, a spokeswoman for Local 222 said by phone.
    About 2,800 UFCWU members have been locked out at the
Dakota City plant since December 14.
    IBP is a subsidiary of Occidental Petroleum Corp.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9491" NEWID="4578">
<DATE>12-MAR-1987 17:29:29.94</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0704&#31;reute
b f BC-******CITGO-RAISES-CR   03-12 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CITGO RAISES CRUDE POSTINGS 50 CTS, TODAY, WTI TO 17.50 DLRS/BBL
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9492" NEWID="4579">
<DATE>12-MAR-1987 17:33:17.44</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;f0707&#31;reute
r f BC-COURT-LIFTS-RESTRAINI   03-12 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>COURT LIFTS RESTRAINING ORDER ON MARK IV &lt;IV></TITLE>
<DATELINE>    BEDFORD, Mass, March 12 - </DATELINE><BODY>Baird Corp &lt;BATM> said the
Massachusetts State Court for Suffolk County has lifted a  
temporary restraining order prohibiting Mark IV Industries Inc
from further purchases of Baird stock.
    According to filings with the Securities and Exchange
Commission, Mark IV owns at least 17.6 pct of Baird's stock and
may attempt to acquire Baird, Baird said.
    Baird said the court also issued an order enjoining Baird
from enforcing the Massachusetts Anti-Takeover Statute against
Mark IV industries.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9493" NEWID="4580">
<DATE>12-MAR-1987 17:35:46.33</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0711&#31;reute
h f BC-REXCOM-&lt;RXSC>-EXTENDS   03-12 0037</UNKNOWN>
<TEXT>&#2;
<TITLE>REXCOM &lt;RXSC> EXTENDS WARRANT EXERCISE PERIOD</TITLE>
<DATELINE>    HOUSTON, March 12 - </DATELINE><BODY>Rexcom Systems Corp said its board
voted to extend the exercise period for the company's publicly
traded warrants until March 31, 1988 from March 31, 1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9494" NEWID="4581">
<DATE>12-MAR-1987 17:36:09.32</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;f0713&#31;reute
d f BC-CJI-INDUSTIRES-INC-&lt;C   03-12 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>CJI INDUSTIRES INC &lt;CJIIA> 4TH QTR NET</TITLE>
<DATELINE>    NEW YORK, March 12 -
    </DATELINE><BODY>Oper shr profit 60 cts vs loss 55 cts
    Oper net profit 928,000 vs loss 88,000
    Revs 48.7 mln vs 39.7 mln
    Avg shrs 3.7 mln vs 1.5 mln
    Year
    Oper shr loss 1.17 dlrs vs loss 60 cts
    Oper net profit 2,537,000 vs profit 587,000
    Revs 178.8 mln vs 117.6 mln
    NOTE: Per share figures come after preferred dividends.
    Excludes fourth quarter and full year 1986 extraordinary
gains of 29 cts and 71 cts per share, respectively.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9495" NEWID="4582">
<DATE>12-MAR-1987 17:37:30.49</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0717&#31;reute
r f BC-CHRYSLER-&lt;C>-TO-KEEP   03-12 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>CHRYSLER &lt;C> TO KEEP AMERICAN MOTORS &lt;AMO> PLANS</TITLE>
<DATELINE>    SOUTHFIELD, Mich., March 12 - </DATELINE><BODY>American Motors Corp
president Joseph E. Cappy, in a telegram to dealers, said
Chrysler Corp will retain American Motors' plans to begin
selling four new cars within the next year.
    Cappy reassured dealers that American Motors, if it is
acquired by Chrysler, would go ahead with plans to introduce
the "Medallion", "Premier", Premier "X59" coupe, and the
"Alpine" models.
    Cappy, in a statement, said American Motors' board met
yesterday on the Chrysler buyout, and will meet "periodically
over the next several weeks on the Chrysler proposal." No other
details of the Chrysler takeover were disclosed.
    American Motors did not release further details of
Chrysler's plans for maintaining or changing American Motors'
current strategy other than to quote Cappy as saying, "we will
try to keep you informed as developments warrant."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9496" NEWID="4583">
<DATE>12-MAR-1987 17:37:42.94</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;f0718&#31;reute
r f BC-counsel   03-12 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>COUNSEL CORP SETS THREE-FOR-TWO STOCK SPLIT</TITLE>
<DATELINE>    TORONTO, March 12 - </DATELINE><BODY>&lt;Counsel Corp> said it plans a
three-for-two stock split, pending shareholder approval at the
April 28 annual meeting.
    The company said it recently reported 1986 profit of 5.9
mln dlrs, or 1.51 dlrs a share, before extraordinary items,
compared with 2.2 mln dlrs, or 81 cts, in 1985.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9497" NEWID="4584">
<DATE>12-MAR-1987 17:40:36.07</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;f0726&#31;reute
r f BC-SOUTHLAND-&lt;SLC>-UNIT   03-12 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTHLAND &lt;SLC> UNIT RAISES CRUDE POSTINGS</TITLE>
<DATELINE>    New York, March 12 - </DATELINE><BODY>Southland Corp's Citgo Petroleum Corp
said it raised the contract price it will pay for crude oil 50
cts a barrel, effective today.
    The increase bring's Citgo's posted price for the West
Texas Intermediate and West Texas Sour grades to 17.50 dlrs a
barrel. The Light Louisiana Sweet South Onshore grade was also
raised 50 cts to 17.85 dlrs a barrel, and Light Louisiana Sweet
North was increased to 17.75 dlrs a barrel.
    Citgo last changed its postings on March four.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9498" NEWID="4585">
<DATE>12-MAR-1987 17:43:02.04</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;f0741&#31;reute
r f BC-CANNON-&lt;CAN>-AUDIT-TO   03-12 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>CANNON &lt;CAN> AUDIT TO SHOW SIGNIFICANT 1986 LOSS</TITLE>
<DATELINE>    LOS ANGELES, March 12 - </DATELINE><BODY>The Cannon Group Inc said its
financial statements will show substantial losses for fiscal
1986 and "significant downward adjustments in previously
reported stockholders' equity."
    The company also said its 1986 audit being conducted by
&lt;Arthur Young and Co> will cover the year ended January 3,
1987, instead of the nine-month period ended September 27, 1986
as previously announced.
    It said it anticipates the results of the audit will be
available in mid to late April 1987.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9499" NEWID="4586">
<DATE>12-MAR-1987 17:43:06.00</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;f0742&#31;reute
d f BC-EAGER-TECHNOLOGY-ACQU   03-12 0039</UNKNOWN>
<TEXT>&#2;
<TITLE>EAGER TECHNOLOGY ACQUIRES NUCLAD</TITLE>
<DATELINE>    DENVER, March 12 - </DATELINE><BODY>&lt;Eager Technology Inc> said it signed a
letter of intent to acquire Nuclad Inc, a private Colorado
corporation, and its subsidiaries.
    Terms of the acquisition were not disclosed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9500" NEWID="4587">
<DATE>12-MAR-1987 17:43:28.71</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0744&#31;reute
r f BC-VOLCKER-SEES-BENEFIT   03-12 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>VOLCKER SEES BENEFIT IN FDIC/FSLIC MERGER</TITLE>
<DATELINE>    LOS ANGELES, March 12 - </DATELINE><BODY>Federal Reserve Board chairman Paul
Volcker said a combination of the Federal Deposit Insurance
Corp, FDIC, and the Federal Savings and Loan Insurance Corp,
FSLIC, could be contemplated in the longer term but is not an
answer to the thrift industry's immediate problems.
    "I don't think it's an answer to 1977 or 1988," Volcker
said at a press conference.
    But a merger of the two deposit-insurance agencies could be
an option as part of a general structural reform of the U.S.
banking system.
    The aim of a merger would not be for commercial banks to
subsidize ailing savings and loan associations but to improve
official oversight of depository institutions, Volcker said.
    "The attractive element is that you get almost by
definition a consistency of supervision and regulation that you
don't have now," he explained.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9501" NEWID="4588">
<DATE>12-MAR-1987 17:47:58.81</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 BC-MOTOROLA-(MOT)-SEES-C   03-12 0126</UNKNOWN>
<TEXT>&#2;
<TITLE>MOTOROLA (MOT) SEES CONTINUED GROWTH FOR CHIPS</TITLE>
<DATELINE>    SAN FRANCISCO, March 12 - </DATELINE><BODY>Motorola Inc expects continued
steady improvement in semiconductor orders for the rest of the
year, Executive Vice President and Chief Corporate Staff
Officer Gary Tooker told security analysts.
    He said the company's semiconductor products sector showed
a nine pct increase in sales last year to 1.88 billion dlrs and
expects growth this year to range between 11 and 13 pct.
    Semiconductor products accounted for 31 pct of Motorola's
1986 net sales of 5.89 billion dlrs.
    Tooker said Motorola has shipped about 300,000 of its
32-bit 68020 microprocessor to 200 customers. Apple Computer
Inc recently announced it is using the 68020 in its new Mac II
personal computer.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9502" NEWID="4589">
<DATE>12-MAR-1987 17:49:52.75</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;f0750&#31;reute
r f BC-FEDERAL-REGULATORS-CL   03-12 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>FEDERAL REGULATORS CLOSE TWO TEXAS BANKS</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>The Federal Deposit Insurance Corp.
(FDIC) said two Texas banks were closed by U.S. bank
regulators, making a total of 40 failures of federally insured
financial institutions so far this year.
    Fourteen of the 40 have been in Texas, which has been hard
hit by plummeting oil prices.
    The FDIC said it approved paying off the insured depositors
of the failed Plaza National Bank, Del Rio, Texas.
    The bank, with assets of 34.8 mln dlrs, was closed today by
the U.S. Comptroller of the Currency.
    The FDIC said it decided to pay off depositors because no
other institution wanted to buy the failed bank.
    The FDIC said 15 accounts exceeded the federal insurance
limit of 100,000 dlrs by a total of 38,000 dlrs.
    Owners of the uninsured deposits will share with the FDIC
as the failed bank's assets are liquidated.
    The FDIC also approved the assumption of deposits of The
First National Bank of Olney, Texas, by Olney Bancshares Inc.,
Olney, Texas.
    The bank had total assets of 15 mln dlrs when it was closed
by federal regulators.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9503" NEWID="4590">
<DATE>12-MAR-1987 17:51:24.56</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;f0753&#31;reute
h f BC-SAN-JUAN-BASIN-&lt;SJT>   03-12 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>SAN JUAN BASIN &lt;SJT> PROVEN RESERVES FALL</TITLE>
<DATELINE>    FORT WORTH, Texas, March 12 - </DATELINE><BODY>The San Juan Basin Royalty
Trust said proved reserves as of December 31 were estimated at
283.1 thousand cubic feet of gas and 1,087,000 barrels of oil.
    In the year-ago period, it said proved reserves were
estimated at 346.4 thousand cubic feet of gas  and 1,974,000
barrels of oil.
    It said the present value of future net revenues discounted
10 pct was 156.2 mln dlrs compared with 446.8 mln dlrs in the
year-ago period.
    It also said that about 60 net infill wells are not
economical to drill at December 31 prices.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9504" NEWID="4591">
<DATE>12-MAR-1987 17:52:43.85</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;f0755&#31;reute
u f BC-INTERCONNECT-OFFERS-T   03-12 0115</UNKNOWN>
<TEXT>&#2;
<TITLE>INTERCONNECT OFFERS TO BUY GATES LEARJET &lt;GLJ></TITLE>
<DATELINE>    STAMFORD, Conn., March 12 - </DATELINE><BODY>&lt;Interconnect Capital Corp>
said it sent a letter to the board of Gates Learjet Corp,
offering to buy the company for 7.07 dlrs a share.
    Gates Corp, which owns 64.8 pct of Gates Learjet, agreed
earlier this week to sell its shares to a partnership formed by
privately-held &lt;Cobey Corp> and a unit of Bear Stearns Cos Inc
&lt;BSC> for 6.50 dlrs a share or 51 mln dlrs. The proposal is
subject to approval by Gates Learjet's board.
    A spokesman for privately-held Interconnect said it made
the new proposal to Gates Learjet's board, but would not say if
it had held talks with the parent company's board.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9505" NEWID="4592">
<DATE>12-MAR-1987 17:54:36.44</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;f0757&#31;reute
d f BC-SEAL-&lt;SINC>-ACQUIRES   03-12 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>SEAL &lt;SINC> ACQUIRES ADEMCO LTD</TITLE>
<DATELINE>    NAUGATUCK, Conn., March 12 - </DATELINE><BODY>Seal Inc said it acquired
Ademco Ltd, a United Kingdom company which distributes mounting
and laminating equipment and supplies, for a combination of
cash and stock valued at 2.6 mln dlrs, based on current
exchange rates.
    Seal said it will pay up to an additional 1.3 mln dlrs
contingent on the market price of Seal's common on December 31,
1988, and on certain earnings targets by the acquired business.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9506" NEWID="4593">
<DATE>12-MAR-1987 17:55:17.12</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>brazil</D><D>saudi-arabia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0758&#31;reute
u f BC-PETROBRAS-CANCELS-40   03-12 0123</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL CANCELS OIL PURCHASE FROM SAUDI ARABIA</TITLE>
<DATELINE>    RIO DE JANEIRO, March 12 - </DATELINE><BODY>Brazil's state-oil company,
Petrobras, cancelled a 40 mln dlr crude oil purchase from Saudi
Arabia after the Saudis refused to accept credit guarantees
from the Bank of Brazil, a Petrobras official said.
    Export director Carlos Santana told a press conference the
Saudis were the first suppliers of oil to impose such
conditions after Brazil's decision to halt interest payment of
its commercial debts last month.
    The shipment of 2.2 mln barrels represents two days of oil
consumption in Brazil.
    But Santana said if the Saudis change their minds and
decide to respect the terms of the contract, then Petrobras
will lift the order to cancel the shipment.
    Santana said if the Saudis do not accept Brazil's terms by
Monday then Petrobras will negotiate elsewhere.
    "Petrobras has been Saudi Arabia's traditional client since
1955. If they do not accept our conditions now, it will be much
better for us, because with the market prices more or less the
same, buying from Iraq and China is an advantage," he said.
    Iraq and China have barter deals with Brazil, importing
Brazilian goods in exchange for oil, but the Saudis buy nothing
from Brazil, he said.
    Santana said despite a strike threat by oil industry
workers and a two-week stoppage by Brazilian seamen, Petrobras
oil stocks are "reasonably balanced." 
    Saudi Arabia is Brazil's second biggest oil supplier, with
an average 115,000 bpd. Iraq is the main supplier with 235,000
bpd. China comes third, with 58,000 bpd.
    "If the Saudis wish to stop our trade relationship, fine, I
am sure that if they do, we will be getting dozens of offers
from elsewhere," Santana added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9507" NEWID="4594">
<DATE>12-MAR-1987 17:57:02.22</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>cboe</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0760&#31;reute
u f BC-CBOE-CREATES-NEW-CLAS   03-12 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>CBOE CREATES NEW CLASS OF S AND P 500 OPTIONS</TITLE>
<DATELINE>    CHICAGO, March 12 - </DATELINE><BODY>In order to accomodate the shift in the
settlement procedure for options on the Standard and Poor's 500
stock index that the exchange announced last month, the Chicago
Board Options Exchange (CBOE) said it has created a new class
of options for the S and P contract &lt;SPX>.
    The CBOE's new contract was needed to coincide with changes
in the settlement procedure that the Chicago Mercantile
Exchange (CME) made on its S and P 500 futures and options
contract which will be implemented with the expiration of the
June contract.
    Settlement of the CBOE's new option contract will be based
on the opening price of the S and P 500 index on expiraton day,
while settlement of the current contract is based on the
closing price of the index.
    "CBOE doesn't think that opening settlement is the solution
to the expiration effect, but we cannot exposure investors in
our market to unanticipated risks arising from different
settlement times in options and futures," CBOE chairman Alger
Chapman said in a release.
    "We're taking this step to give investors a choice of
settlement times that meet their hedging needs," Chapman said.
    The new contract was necessary because the Options Clearing
Corp (OCC) did not allow its member exchanges to modify terms
of any of its outstanding contracts, the CBOE said.
    The new contract will satisfy the needs of customers who
require an options contract based on opening prices of the
index, the CBOE said.
    The opening settlement contract will trade parallel to the
closing settlement contract as long as the CME maintains its
opening settlement procedure for the S and P 500 futures
contract, a CBOE spokesperson said.
    However, she noted that customer preference for one type of
settlement procedure will eventually determine which contract
will prevail.
    The opening settlement contract will trade on a March,
June, September, December quarterly expiration cycle and will
be listed as soon as the OCC revises its contract prospectus,
possible in April, the exchange said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9508" NEWID="4595">
<DATE>12-MAR-1987 17:58:29.22</DATE>
<TOPICS><D>trade</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;f0764&#31;reute
r f BC-U.S.-HOUSE-PANEL-APPR   03-12 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. HOUSE PANEL APPROVES TRADE BILL</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>The U.S. House Ways and Means Trade
Subcommittee unanimously approved a toned-down version of
legislation designed to toughen U.S. trade laws and wedge open
foreign markets to more U.S. goods.
    The measure now goes to the full House Ways and Means
Committee next week, but major changes are not expected,
congressional sources said.
    "This product could very well be toughening our trade policy
and doing it in a manner that opens markets without this
frightening word 'protectionism'," Ways and Means chairman Dan
Rostenkowski, an Illinois Democrat said.
    The trade subcommittee backed away from mandating specific
retaliation against foreign countries for unfair foreign trade
practices as the House had approved in a trade bill last year.
    But it held over for the full Ways and Means Committee
debate on a controversial plan by Rep. Richard Gephardt to
mandate a reduction in trade surpluses with the U.S. by
countries such as Japan, South Korea and Taiwan.
    Gephardt, a Missouri Democrat, has not decided the exact
form of his amendment, an aide said. Last year the House
approved his idea to force an annual 10 pct trade surplus cut
by those countries.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9509" NEWID="4596">
<DATE>12-MAR-1987 17:58:36.36</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0765&#31;reute
d f BC-TITAN-&lt;TTN>-EXTENDS-O   03-12 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>TITAN &lt;TTN> EXTENDS ODD LOT TENDER OFFER</TITLE>
<DATELINE>    SAN DIEGO, March 12 - </DATELINE><BODY>Titan Corp said it extended its
odd-lot tender offer program to purchase shares of its
preferred stock to June 10, 1987.
    The offer is made to holders of 99 or fewer preferred
shares.
    The offer was originally scheduled to expire March 10.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9510" NEWID="4597">
<DATE>12-MAR-1987 18:04:38.27</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>volcker</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0776&#31;reute
u f BC-VOLCKER-SAYS-SENATE-B   03-12 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>VOLCKER SAYS SENATE BILL WOULD LIMIT FED</TITLE>
<DATELINE>    LOS ANGELES, March 12 - </DATELINE><BODY>Federal Reserve Board Chairman Paul
Volcker said a bill passed this week by the Senate banking
committee is too restrictive regarding the Federal Reserve.
    "I don't think our hands should be tied so much as in that
bill," he said.
    The bill would set a one-year moratorium on approval of
certain powers that banks have already applied to the Federal
Reserve for -- selling insurance, securities and real estate.
    Volcker added, however, that comprehensive new legislation
dealing with such issues is needed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9511" NEWID="4598">
<DATE>12-MAR-1987 18:05:39.63</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;f0778&#31;reute
u f BC-CONSERVATION-REPORT-D   03-12 0121</UNKNOWN>
<TEXT>&#2;
<TITLE>CONSERVATION REPORT DELAYED UNTIL FRIDAY</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>Enrollment figures in the
Agriculture Department's fouth annual conservation signup will
be released tommorrow afternoon, a senior USDA official said.
    Bill Bailey, deputy administrator for USDA's Agricultural
Stabilization and Conservation Service, told Reuters that USDA
will announce enrollment into the Conservation Reserve Program
(CRP) after the close of the futures markets.
    The report was originally scheduled to be released today.
No explanation was given for the postponement.
    Conservation specialists expect a heavy signup and said
enrollment could amount to more than the total of the first
three signups, which was 8.9 mln acres.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9512" NEWID="4599">
<DATE>12-MAR-1987 18:09:10.98</DATE>
<TOPICS><D>grain</D><D>wheat</D><D>corn</D><D>oilseed</D><D>soybean</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;f0780&#31;reute
b f BC-ussr-shipments   03-12 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>NO GRAIN TO THE USSR IN LATEST WEEK -- USDA</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>There were no shipments of U.S.
grain or soybeans to the Soviet Union in the week ended March
12, according to the U.S. Agriculture Department's latest
Export Sales report.
     The USSR has purchased 1.0 mln tonnes of U.S. corn for
delivery in the fourth year of the U.S.-USSR grain agreement.
     Total shipments in the third year of the U.S.-USSR grains
agreement, which ended September 30, amounted to 152,600 tonnes
of wheat, 6,808,100 tonnes of corn and 1,518,700 tonnes of
soybeans.
    Shipments to the USSR in the second year of the agreeement
amounted to 2,887,200 tonnes of wheat and 15,750,100 tonnes of
corn.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9513" NEWID="4600">
<DATE>12-MAR-1987 18:26:28.36</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D><D>india</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>worldbank</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0810&#31;reute
d f BC-INDIA-GETS-140-MLN-DL   03-12 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>INDIA GETS 140 MLN DLR WORLD BANK LOAN</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>The World Bank said it has approved
a 140 mln dlr loan for India to help lessen that country's
dependence on imported oil and spur development of its own
petroleum resources.
    The bank said the loan will be used to boost production by
injecting gas in the partially depleted Assam oil fields and to
assist exploration in other areas, including drilling 10
exploratory wells.
    The bank said the recipient of the 20-year loan will be Oil
India Ltd (OIL), which is the smaller of two public Indian
petroleum exploration and production companies.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9514" NEWID="4601">
<DATE>12-MAR-1987 18:28:52.36</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0816&#31;reute
r f BC-ROCHESTER-GAS-AND-ELE   03-12 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>ROCHESTER GAS AND ELECTRIC &lt;RGS> BEGINS OFFER</TITLE>
<DATELINE>    ROCHESTER, N.Y., March 12 - </DATELINE><BODY>Rochester Gas and Electric Corp
said it began a public offering of 300,000 shares of 8.25 pct
preferred stock, Series R at 100 dlrs per share.
    Proceeds will be used to redeem its 10.84 pct preferred
shares.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9515" NEWID="4602">
<DATE>12-MAR-1987 18:32:12.03</DATE>
<TOPICS><D>money-supply</D><D>interest</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM F A
&#22;&#22;&#1;f0823&#31;reute
u f BC-FED-DATA-INDICATE-NO   03-12 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>FED DATA INDICATE NO POLICY CHANGE LIKELY</TITLE>
<AUTHOR>    By Martin Cherrin, Reuters</AUTHOR>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>U.S. bank reserve, monetary and
discount window borrowings data released by the Federal Reserve
today clearly indicate that policy is "on hold" and may not be
changed for weeks or even months, economists said.
    "The Fed is keeping policy at dead center and it is not
about to change policy unless something fairly dramatic occurs
on the economy," said John Williams of Bankers Trust Co.
    "These numbers contain no hint that a policy shift is in
prospect, nor do economic or financial developments argue for
policy change," said William Griggs of Griggs and Santow Inc.
    Fed data released today were all in line with economists'
expectations and similar to the numbers of recent weeks.
    The Fed said net discount window borrowings in the two
weeks ended Wednesday averaged 191 mln dlrs, up from 381 mln
dlrs in the February 25 statement period, but little changed
from 160 mln dlrs in the period before that.
    It said that banks' net free reserves in the latest two
weeks averaged 660 mln dlrs versus 675 mln dlrs previously.
    Finally, the Fed said that the M-1 money supply fell 800
mln dlrs in February, with the broader M-2 measure down 1.6
billion dlrs and M-3 up an even three billion dlrs.
    Analysts said that M-1 last month grew at a negative 1.3
pct annual rate compared with minus 0.7 pct for M-2 and actual
positive growth of 1.0 pct annualized for M-3.
    February levels of M-2 and M-3 left the aggregates 18.2 and
20.8 billion dlrs under their respective upper growth limits
set by the Fed for 1987. The annual growth target for both is
5-1/2 to 8-1/2 pct. There is no M-1 target.
    "In the near term, there is absolutely no reason for the
Fed to ease policy, even apart from the slowdown in money
growth," said Stephen Slifer, economist at Lehman Government
Securities Inc.
    Economists generally expect a modest pickup in monetary
growth in March after February's anemic growth rates. However,
they stress that money growth will not be strong enough to
prevent the Fed from dropping interest rates further if the
economy shows evidence of weakness.
    Commenting on February's decline in the key M-2 aggregate,
Slifer said the main cause was a 3.2 billion dlr drop in money
market deposits at banks. This number has risen three to four
billion dlrs a month for a long while, he said, so February's
weakness is not likely to persist. Slifer expects modest M-2
and M-3 growth rates of 3-1/2 to four pct during March.
    Griggs said that M-2 and M-3 in coming months should return
to the five to seven pct annualized growth region and so
continue to present no problem for the Fed.
    Economists said the Fed appears to be very comfortable with
its current policy stance and it is likely to wait for perhaps
several more months of economic data before deciding whether or
not to ease its grip on reserves.
    Given the economy's fragility in many sectors, the analysts
agreed that there is almost no chance that the Fed will choose
to raise, rather than lower, interest rates when it next
changes policy.
    "Discount window borrowings in the past week were about as
low as the Fed can get them, although Fed funds held above six
pct," said Williams of Bankers Trust. Funds averaged 6.12 pct
in the week to Wednesday, up from 6.06 pct in the prior week.
    The Fed added reserves indirectly via one billion dlrs of
customer repurchase agreements last Friday, 2.5 billion dlrs on
Monday and two billion dlrs on Wednesday. On Tuesday, it added
reserves directly through two-day System repurchases.
    Williams and Griggs agreed the Fed will let the funds rate
be largely market-driven. They said it is focusing instead on a
borrowings target of around 300 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9516" NEWID="4603">
<DATE>12-MAR-1987 18:33:57.62</DATE>
<TOPICS><D>coffee</D></TOPICS>
<PLACES><D>colombia</D><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ico-coffee</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0824&#31;reute
u f BC-colombia's-coffee-exp   03-12 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>COLOMBIA'S COFFEE MARKETING TO BE MORE FLEXIBLE</TITLE>
<DATELINE>    BOGOTA, March 12 - </DATELINE><BODY>Colombia intends to improve the
marketing of its coffee with the accent on more flexibility on
setting export registration prices, finance minister Cesar
Gaviria said.
    Speaking to reporters after announcing a lower export
registration price, or reintegro, of 1.10 dlr per lb ex-dock
New York, Gaviria said export mechanisms would be more agile.
    "In the first stage, we decided not only to lower the
reintegro but also to adopt a flexible policy of reintegro that
will allow private exporters to participate more actively in
Colombia's coffee export policy," he said.
    Traders said this means the export registration price will
change more often in a truer reflection of market trends.
    Gaviria said the measures merely responded to new market
factors since a return to a system of International Coffee
Organisation (ICO) export quotas may not occur in the short
term.
    ICO talks last month in London failed to break a deadlock
over re-introduction of export quotas, suspended in February
1986.
    Gaviria stressed that Colombia will not necessarily suffer
from depressed prices because it can compensate lower prices
with increased volume.
    "Colombia will continue to export its traditional amount of
coffee, between 9.6 and 10 mln bags (of 60 kilos), and will do
so without an agreement among producers," he said.
    He ruled out a much higher volume of exports, or up to 13.5
mln bags as mentioned in market circles, "because the idea is
precisely not to disrupt the market."
    Colombia exported a record 11.5 mln bags in the 1985/86
coffee year which ended last September 30.
    Echoing Gaviria's words, Jorge Cardenas, manager of the
national coffee growers' federation, said Colombia sought to
adapt its coffee marketing policy to circumstances.
    "There is great expectation in the world for the policies
that Brazil and Colombia will adopt. Ours is beginning to
emerge and no agreement among producers is foreseeable in the
immediate future," he told journalists.
    Trade sources in Rio today said Brazil's future export
policy was unlikely to be revealed before the end of next week.
    Cardenas said a new ICO meeting could only take place when
problems that hindered an agreement at the recent London talks
have been resolved.
    Asked to comment on a Reuter report from Jakarta saying
Indonesia hoped Colombia could use its contacts with Brazil to
suggest a compromise on the quota issue, Cardenas said the
Brazilian stand was quite clear.
    He said Brazil's current quota "reflects the reality of the
market, allows for an orderly supply and satisfies demand," but
added more clarity was needed to assess the criteria that
determined it.
    Cardenas said lows registered immediately after the failure
of the London talks were triggered by a widespread fear among
dealers of an imminent price war and the belief that producers
would go out and sell their coffee as quickly as possible,
which did not happen.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9517" NEWID="4604">
<DATE>12-MAR-1987 18:44:48.38</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>usa</D><D>india</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>worldbank</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0838&#31;reute
r f BC-INDIA-GETS-140-MLN-DL   03-12 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>INDIA GETS 140 MLN DLR WORLD BANK LOAN</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>The World Bank said it approved a
140 mln dlr loan for India to help lessen that country's
dependence on imported oil and spur development of its own
petroleum resources.
    The bank said the loan will be used to boost production by
injecting gas in the partially depleted Assam oil fields and to
assist exploration in other areas, including drilling 10
exploratory wells.
    The bank said the recipient of the 20-year loan will be Oil
India Ltd (OIL), which is the smaller of two public Indian
petroleum exploration and production companies.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9518" NEWID="4605">
<DATE>12-MAR-1987 18:45:43.06</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;f0840&#31;reute
u f BC-CANNON-&lt;CAN>-SELLS-LI   03-12 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>CANNON &lt;CAN> SELLS LIBRARY TO WEINTRAUB</TITLE>
<DATELINE>    LOS ANGELES, March 12 - </DATELINE><BODY>WEintraub Entertainment Group Inc
said it agreed to acquire Cannon Group's Screen Entertainment
film library.
    The library was purchased in May 1986 as part of Cannon's
acquisition of Screen Entertainment Ltd from Bond Corp Holdings
Ltd. The library has over 2,000 theatrical motion pictures.
    Terms call for the price to be established through an
appraisal process beginning immediately and not to exceed 175
mln dlrs or be below 125 mln dlrs.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9519" NEWID="4606">
<DATE>12-MAR-1987 19:00:08.24</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;f0855&#31;reute
d f BC-GERBER-&lt;GRB>-BUYS-GER   03-12 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>GERBER &lt;GRB> BUYS GERBER SYSTEMS &lt;GSTI> SHARES</TITLE>
<DATELINE>    SOUTH WINDSOR, Conn, March 12 - </DATELINE><BODY>Gerber Scientific Inc said
its GST Acquisition Corp purchased 444,646 shares of its 84 pct
owned Gerber Systems Technology pursuant to a January 15 tender
offer.
    Following the purchase, Gerber made a capital contribution
to GST of all the shares it owned resulting in 95.6 pct
ownership by GST.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9520" NEWID="4607">
<DATE>12-MAR-1987 19:00:25.08</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0857&#31;reute
r f BC-UNITED-MEDICAL-&lt;UM>-T   03-12 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>UNITED MEDICAL &lt;UM> TO AMEND COVENANTS</TITLE>
<DATELINE>    HADDONFIELD, N.J., March 12 - </DATELINE><BODY>United Medical Corp said it
it has requested a meeting of holders of its Swiss Francs 30
mln 5-1/8 pct convertible subordinated notes due 1991.
    The meeting has been requested in order to amend the
negative pledge and financial covenants which have proved to be
too restrictive in light of the company's activities, it said.
    United also said it plans to acquire some of these notes to
reduce its exposure to foreign exchange fluctuations.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9521" NEWID="4608">
<DATE>12-MAR-1987 19:02:18.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0859&#31;reute
u f BC-INVESTORS-MORE-ACTIVE   03-12 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>INVESTORS MORE ACTIVE IN GILT MARKET, SURVEY SAYS</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>Institutional investors are finding it
difficult to find "the best price" for transactions in U.K.
Government bonds (gilts) and have become more active in the
market since the deregulation of the London Stock Exchange in
October, agency broker Capel-Cure Myers said in a survey.
    The survey, covering a broad section of institutional
investors, also showed that investors were uneasy about the
impartiality of market makers' advice. Given their concerns,
over half those surveyed said they spend more time managing
their portfolios. At the same time, the investors believed the
market was more liquid and efficient than before Big Bang.
    Capel-Cure, a unit of Australia and New Zealand Banking
Group Ltd, conducted the survey during January among 70
institutions which are not clients of that firm.
    Banks and merchant banks accounted for 32 pct of the total,
building societies 30 pct, life assurance companies 20 pct,
insurance companies 11 pct and pension funds seven pct.
    The survey found that with the virtual elimination of
commissions, the improved market liquidity has encouraged
investors to deal more frequently in the market. Of those
responding, 70 pct were encouraged to deal more actively, 25
pct which saw no change and five pct dealt less actively.
    A Capel-Cure official told reporters the elimination of
commissions has made the market more competitive.
    He said Capel-Cure has deliberately set low commisstions
because of this.
    Nearly half the respondents said they now have their own
dealing team to cope with the new market, although the
definition of a "dealing team" was ambiguous, the survey said.
    Rather than being a self-contained, specialised group of
dealers who spend all their time searching for prices, the
definition now appears to be the less formal idea of a
multi-purpose fund manager, it said.
    The survey supported the general view in the gilt market
that a shake-out of the 27 market-makers is likely.
    It showed nearly 90 pct of the respondents believed that
the total number of market makers in three years time would be
less than 20, while 46 pct thought the number would be less
than 15.
    Some 79 pct of respondents said they expect the number of
agency brokers (for which there was no estimate) to fall over
the next three years. Unlike broker/dealers, agency brokers do
not take positions in the market, but the survey showed 68 pct
of respondents did not consider this very important when
deciding whether to use one.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9522" NEWID="4609">
<DATE>12-MAR-1987 19:07:39.00</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>venezuela</D><D>ecuador</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0867&#31;reute
u f AM-ecuador-loan   03-12 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>VENEZUELA TO LEND ECUADOR 50,000 BPD OF CRUDE</TITLE>
<DATELINE>    CARACAS, March 12 - </DATELINE><BODY>Venezuela will lend Ecuador 50,000
barrels per day of crude oil over the next few months to help
it meet its export commitments, Energy and Mines Minister
Arturo Hernandez Grisanti said today.
    He said that under the terms of this loan, agreed during a
visit here this week by Ecuador's Deputy Energy Minister
Fernando Santos Alvite, Ecuador will begin repaying the loan in
August.
    Hernandez Grisanti said the loan will go part way to
offsetting the loss of Ecuador's 140,000 in exports caused by
earthquake damage to 25 miles of pipeline last week.
    Ecuador was forced to suspend exports after the pipeline
connecting its jungle oil fields with the pacific port of Balao
was put out of action.
    Venezuela has an output quota of 1.495 bpd, while Ecuador's
is 210,000 bpd. Santos Alvite said Ecuador will ask OPEC to
allow it to produce 100,000 bpd above its quota when the
pipeline is repaired to offset present production losses.
    Hernandez Grisanti said also a first 300,000 barrels
shipment of Venezuelan crude oil will leave for Ecuador this
weekend to help meet domestic consumption needs.
    The oil, part of a five mln additional crude oil loan by
Venezuela, will be processed at Guayaquil refineries.
    "If we had not supplied oil to Ecuador the life of this
country would have ground to a halt," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9523" NEWID="4610">
<DATE>12-MAR-1987 19:14:46.59</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0872&#31;reute
b f BC-THE-ADELAIDE-STEAMSHI   03-12 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>THE ADELAIDE STEAMSHIP CO LTD &lt;ADSA.S> FIRST HALF</TITLE>
<DATELINE>    ADELAIDE, March 13 - </DATELINE><BODY>First half ended December 31
    Shr 55.01 cents vs 97.76
    Int div 18 cents vs 16
    Net 75.05 mln dlrs vs 55.68 mln
    Turnover 156.94 mln vs 177.87 mln
    Other revenue 72.50 mln vs 31.18 mln.
    One-for-five rights issue at 11.50 dlrs a share
    One-for-four bonus issue on capital enlarged by rights
issue
    Shrs 99.36 mln vs 70.94 mln.
    NOTE - Shr applies to total net 54.66 mln dlrs vs 69.48 mln
after extraordinaries loss.
    Pre-extraordinaries net shr 75.53 cents vs 78.32
    Div pay April 30. Div and rights issue reg March 30. Bonus
reg May 6. Net equity-accounts share of associates' earnings.
    Pre-equity pre-tax earnings 59.52 mln dlrs vs 64.13 mln.
Pre-equity net 52.07 mln dlrs vs 43.35 mln after tax 3.45 mln
vs 16.34 mln, minorities 4.00 mln vs 6.44 mln, interest 33.89
mln vs 26.11 mln and depreciation 2.67 mln vs 2.72 mln but
before net extraordinary loss 20.39 mln vs 13.79 mln.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9524" NEWID="4611">
<DATE>12-MAR-1987 19:17:09.22</DATE>
<TOPICS></TOPICS>
<PLACES><D>philippines</D><D>usa</D><D>mexico</D></PLACES>
<PEOPLE><D>ongpin</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f0873&#31;reute
u f BC-PHILIPPINE-DEBT-TALKS   03-12 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILIPPINE DEBT TALKS FINELY POISED, BANKERS SAY</TITLE>
<AUTHOR>    By Alan Wheatley, Reuters</AUTHOR>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Debt talks between the Philippine
government and its bank advisory committee were delicately
poised after a brief meeting between the two sides today,
bankers and sources close to the Philippine delegation said.
    "We had a businesslike meeting and made good progress," a
banker said. "The banks are anxious to come to an agreement."
    But bankers were reluctant to predict whether the talks
would end successfully. Caution was also evident in the
Philippine camp. "We feel the ball's in the banks' court," one
source said. The two sides will meet again on Friday.
    The talks, in which the Philippines is seeking to
reschedule about 9.4 billion dlrs of debt, are now dominated
by a discussion of the innovative proposal made by finance
minister Jaime Ongpin to pay part of the country's interest
bill in Philippine Investment Notes, PINs, instead of cash.
    Manila wants to pay the London Interbank Offered Rate in
cash and to issue PINs in respect of the margin above LIBOR.
    The banks rejected the original PINs proposal last Friday,
but Ongpin presented a revised proposal on Monday which sought
to satisfy the banks' objections by guaranteeing that the notes
would yield 7/8 pct over LIBOR in cash.    
    The banks have apparently yet to pass final judgment on the
new proposal.
    Senior Reagan Administration officials expressed warm
support for the PINs proposal this week, which gave Ongpin hope
that the banks would embrace the idea.
    But the banks are still being circumspect, weighing
possible accounting consequences as well as considering the
precedents that they would set if they agreed to PINS.
    One of the  main architects of the PINs proposal, U.S.
lawyer Lee Buchheit, is adamant that the banks have nothing to
worry about.
    "To the extent that it's a precedent, it's a precedent to
be encouraged," Buchheit, a partner with Cleary, Gottlieb,
Steen and Hamilton, told a debt-equity swaps conference
sponsored by Euromoney magazine.
    Under the proposal, banks would sell the dollar-denominated
PINs at a discount to multinational firms which would convert
them into pesos at face value to fund government-approved
equity investments in the Philippines.
    In effect, international firms would be paying part of
Manila's interest bill, allowing the government to conserve
much-needed hard currency.
    One of the beauties of the scheme, according to Buchheit,
is that it widens the scope of third-world debt negotiations,
which have been confined to debtors and creditors for the past
4-1/2 years.
    "There's another pool of cash at the table now," he said.
    David Mulford, Assistant Secretary of the U.S. Treasury,
told the Euromoney conference that ideas such as PINs should be
part of a "menu" of options available to banks instead of pure
new-money packages.
    He said the difficulty of syndicating Mexico's 7.7 billion
dlr loan package shows that new approaches must be encouraged.
    "We must face the fact that greater flexibility in devising
new money packages may, in effect, be essential to future bank
syndications," Mulford said.
    In an unusually frank comment about the Mexican deal, he
said that dissatisfaction with Mexico's economic program and
criticism of communication and coordination within the bank
syndicate had prompted a number of banks to refuse to
participate in the loan.
    This refusal "for a time appeared to jeopardize the
prospects for successful agreement with the rest of the banks,"
Mulford said.
    The Mexican package is now due to be signed on March 20,
but bankers said the U.S. clearly feels the need to breathe new
life into the financing process, especially with crucial
negotiations with Brazil, about to start.
    The banks for their part insist that they are more than
willing to discuss Mulford's "menu", and say it is the debtors
that need to be more flexible. For example, they say financing
talks with Argentina are proving tough because Buenos Aires
dislikes the debt-equity schemes and onlending provisions that
the banks are promoting. But whether the banks are ready to
endorse the PINs concept right away still hangs in the balance.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9525" NEWID="4612">
<DATE>12-MAR-1987 19:19:46.05</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0876&#31;reute
r f BC-AIR-MIDWEST-&lt;AMWI>-FE   03-12 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>AIR MIDWEST &lt;AMWI> FEBRUARY LOAD FACTOR ROSE</TITLE>
<DATELINE>    WICHITA, Kan, March 12 - </DATELINE><BODY>Air Midwest INc said its february
load factor rose to 42.9 pct from 37.0 pct, its revenue
passenger miles rose to 13.4 mln from 9.1 mln and its available
seat miles rose to 31.2 mln from 24.5 mln.
    For the year to date, load factor tose to 39.9 pct from
36.6 pct, revenue passenger miles rose to 25.5 mln from 20.6
mln and available seat miles rose to 63.8 mln from 56.4 mln.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9526" NEWID="4613">
<DATE>12-MAR-1987 19:29:40.59</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;f0884&#31;reute
d f BC-BRYN-MAWR-BANK-CORP-&lt;   03-12 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>BRYN MAWR BANK CORP &lt;BMTC> UPS DIVIDEND</TITLE>
<DATELINE>    BRYN MAWR, Pa, March 12 -
    </DATELINE><BODY>Qtly div 30 cts vs 30 cts prior
    Payable May one
    Record April 10
    NOTE:Bryn Mawr was reorganized as a holding company on
January 2, 1987, resulting in each share of Bryn Mawr Trust Co
being converted into three shares of the new holding company's
stock. The 30 cts dividend represents a 15 pct increase over
prior quarter.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9527" NEWID="4614">
<DATE>12-MAR-1987 19:29:57.91</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0885&#31;reute
d f BC-GREENWOOD-&lt;GRRL>-BOAR   03-12 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>GREENWOOD &lt;GRRL> BOARD APPROVES RESTRUCTURING</TITLE>
<DATELINE>    DENVER, Colo, March 12 - </DATELINE><BODY>Greenwood Resources Inc said its
board approved a restrucuting and recapitalization plan uner
which more than four mln dlrs of debt and interest will be
restructured.
    As part of the plan, its preferred stock will be converted
into one class of common stock.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9528" NEWID="4615">
<DATE>12-MAR-1987 19:30:26.18</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;f0886&#31;reute
d f BC-PRICE-&lt;PCLB>-TO-BUY-8   03-12 0050</UNKNOWN>
<TEXT>&#2;
<TITLE>PRICE &lt;PCLB> TO BUY 80 PCT OF TSS-SEEDMAN</TITLE>
<DATELINE>    SAN DIEGO, March 12 - </DATELINE><BODY>Price Co said it agreed to buy at
least 81 pct of the stock of &lt;TSS-Seedman's INc> for about 50
mln dlrs.
    The terms envision a purchase of the entire company, it
said.
    The transaction is expected to close at the end of April.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9529" NEWID="4616">
<DATE>12-MAR-1987 20:20:24.76</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;f0897&#31;reute
b f BC-MIYAZAWA-SAYS-EXCHANG   03-12 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>MIYAZAWA SAYS EXCHANGE RATES WILL STAY STABLE</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>Finance Minister Kiichi Miyazawa told a
press conference he thinks exchange rates will remain stable
due to the currency accord reached in Paris last month by six
major industrialised nations but he did not say for how long.
    The dollar has hovered around 153 yen since the six agreed
to cooperate to bring about currency stability.
    Asked to comment on remarks by some U.S. Officials calling
for a further decline of the dollar, Miyazawa said only the
U.S. President and the U.S. Treasury Secretary can make
official statements about exchange rates.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9530" NEWID="4617">
<DATE>12-MAR-1987 21:25:07.29</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0922&#31;reute
u f BC-TWO-BRAZILIAN-SHIPPIN   03-12 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>TWO BRAZILIAN SHIPPING FIRMS SETTLE WITH STRIKERS</TITLE>
<DATELINE>    SAO PAULO, March 12 - </DATELINE><BODY>Two small shipping companies have
reached a pay deal with striking seamen, but union leaders said
most of Brazil's 40,000 seamen were still on strike.
    A union spokesman in Rio de Janeiro said the seamen had
accepted a 120 pct pay offer from the companies, Globo and
Flumar, which have less than 200 employees each.
    The two-week strike comes as Brazil faces a debt crisis and
is delaying exports badly needed to earn foreign exchange.
    Labour Minister Almir Pazzionotto said the government will
not force a settlement of the strike, which was ruled illegal
last Friday.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9531" NEWID="4618">
<DATE>12-MAR-1987 21:34:46.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>iran</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0932&#31;reute
u f BC-U.S.-JUDGE-DISMISSES   03-12 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. JUDGE DISMISSES SUIT CHALLENGING IRAN PROBE</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>A U.S. Judge dismissed a lawsuit by
fired White House aide Oliver North seeking to halt a special
prosecutor's investigation into the Iran arms scandal.
    In a 21-page ruling, Judge Barrington Parker threw out
North's suit challenging the constitutionality of the law
empowering special prosecutor Lawrence Walsh to investigate
secret White House arms sales to Iran and the diversion of
profits to contra rebels in Nicaragua.
    "The nation demands an expeditious and complete disclosure
of our government's involvement in the Iran-contra affair,"
Parker said in his ruling.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9532" NEWID="4619">
<DATE>12-MAR-1987 21:38:25.33</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0933&#31;reute
u f BC-JAPAN-MULLING-CHANGES   03-12 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN MULLING CHANGES TO CORPORATE DISCLOSURE RULES</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>The Finance Ministry will institute a
study to consider changing the corporate disclosure rules to
provide more information for investors, a ministry official
said.
    The study will look at whether companies should include
data on profits for separate divisions, products and overseas
regions in corporate earnings statements the official said.
    At present, companies give such breakdowns for sales only.
    He said no time limit has been set for the study.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9533" NEWID="4620">
<DATE>12-MAR-1987 21:52:37.81</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;f0938&#31;reute
u f BC-CHOCK-FULL-O'NUTS-COR   03-12 0075</UNKNOWN>
<TEXT TYPE="UNPROC">&#2;
CHOCK FULL O'NUTS CORP 2ND QTR JAN 31 LOSS
    NEW YORK, March 12
    Oper shr loss 38 cts vs profit 24 cts
    Oper net loss 2,243,000 vs profit 1,192,000
    Revs 43.6 mln vs 41.0 mln
    Six mths
    Oper shr loss 35 cts vs profit 28 cts
    Oper net loss 2,090,000 vs profit 1,399,000
    Revs 84.3 mln vs 72.9 mln
    Note: Year-ago oper excludes loss from discontinued
operations of 1,028,000 dlrs for qtr and 1,076,000 dlrs for six
mths.
 REUTER
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9534" NEWID="4621">
<DATE>12-MAR-1987 22:32:22.31</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0956&#31;reute
u f BC-ADSTEAM-RIGHTS-ISSUE   03-12 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>ADSTEAM RIGHTS ISSUE TO RAISE 228 MLN DLRS</TITLE>
<DATELINE>    ADELAIDE, March 13 - </DATELINE><BODY>The Adelaide Steamship Co Ltd &lt;ADSA.S>
(Adsteam) said its one-for-five rights issue at 11.50 dlrs a
share will raise 228.5 mln dlrs for general working capital and
investment, both in Australia and overseas.
    The group announced the issue with its first half earnings
and said in a statement that the rights issue will be followed
by a one-for-four bonus issue.
    Adsteam's equity-accounted net earnings rose to 75.05 mln
dlrs in the half ended December 31 from 55.68 mln a year
earlier and interim dividend to 18 cents from 16.
    Adsteam shares eased to 14.20 dlrs from an opening 14.60
and yesterday's close of 14.50 on the issue announcement.
    The issue will be underwritten by &lt;Morgan Grenfell
Australia Ltd> and &lt;McCaughan Dyson Ltd> apart from the shares
to be taken up by Adsteam's associate and largest shareholder,
department store retailer &lt;David Jones Ltd>.
    New shares will not rank for the interim dividend but will
rank equally thereafter.
    Adsteam said it expects to maintain an annual dividend rate
of 36 cents on capital enlarged to about 149 mln shares by both
issues from 99.36 mln.
    Adsteam said its diverse industrial interests generally
performed well and its results, as the ultimate holding company
and beneficiary, reflected this solid performance.
    David Jones, owned 49.2 pct by Adsteam, earned the largest
associates' net of 57.38 mln dlrs in the half against 40.29 mln
a year earlier, Adsteam's figures show.
    Wholly-owned and joint venture companies also did well
apart from timber, building supplies and real estate, which
returned below-budget profits due to the housing downturn.
    Adsteam said it sees 1987/88 as a year of reconstruction
and consolidation with the capital base boosted by the issue.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9535" NEWID="4622">
<DATE>12-MAR-1987 22:48:14.55</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;f0964&#31;reute
u f BC-HEARST-BUYS-HOUSTON-C   03-12 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>HEARST BUYS HOUSTON CHRONICLE FOR 400 MLN DLRS</TITLE>
<DATELINE>    HOUSTON, March 12 - </DATELINE><BODY>The &lt;Hearst Corp> is buying the Houston
Chronicle from Houston Endowment Inc for 400 mln dlrs.
    The announcement was made jointly by Frank Bennack Jr,
president and chief executive officer of Hearst, and Richard
Johnson, president of the Chronicle.
    The Houston Endowment is selling the paper to comply with
federal tax laws requiring charitable institutions to divest
themselves of profit-making subsidiaries by 1989.
    The Chronicle has a daily circulation of over 425,000 and
is in competition with the Houston Post, owned by the &lt;Toronto
Sun Publishing Corp>, with a circulation of about 316,000.
    The acquisition gives Hearst its biggest newspaper holding
in Texas, where the California-based publisher already owns
papers in San Antonio, Beaumont and Laredo.
    The chain also owns, among others, the flagship San
Francisco Examiner, the Los Angeles Herald Examiner and the
Seattle Post-Intelligencer.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9536" NEWID="4623">
<DATE>12-MAR-1987 22:56:46.50</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;f0965&#31;reute
u f BC-IEL'S-ACMEX-UNIT-TO-B   03-12 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>IEL'S ACMEX UNIT TO BID FOR CHEETHAM</TITLE>
<DATELINE>    SYDNEY, March 13 - </DATELINE><BODY>&lt;Industrial Equity Ltd> (IEL) unit
&lt;Acmex Holdings Ltd> said it proposed to make a formal takeover
offer for all the issued capital of &lt;Cheetham Ltd>, a producer
of salt, animal feed and seeds.
    Acmex said in a statement it would offer one share for
every two Cheetham shares or 3.40 dlrs cash for each share.
    Acmex said it was presently entitled to 5.1 mln Cheetham
shares or 16.85 pct of its 30.27 mln issued shares.
    The scrip offer values Cheetham at about 110 mln dlrs,
based on Acmex's current price of 7.20 dlrs, and the cash offer
at about 104 mln. Cheetham last traded at 3.10 dlrs.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9537" NEWID="4624">
<DATE>12-MAR-1987 22:58:56.27</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ida</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0968&#31;reute
u f BC-U.S.-DETAILS-ITS-ACTI   03-12 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. DETAILS ITS ACTION PROGRAM FOR AFRICA</TITLE>
<DATELINE>    WASHINGTON, March 12 - </DATELINE><BODY>The U.S. Has given further details
of an action program announced yesterday aimed at helping
sub-Saharan Africa overcome hunger and economic problems,
senior U.S. Offficials said.
    Under the new program, a 500-mln dlr Development Fund for
Africa will be set up to consolidate most of the aid money
going to the continent to replace the large number of bilateral
accounts currently in existence.
    Chester Crocker, assistant secretary of state for Africa,
said he believed Congress will favour the program, which stems
from a U.N. Conference on Africa's economic problems.
    The 500-mln dlr fund, coupled with an additional 100 mln
dlrs in food aid, would surpass Congress' 1986 vote of 483 mln
dlrs for equivalent programs, officials said.
    Washington is also increasing its funding to the
International Development Agency (IDA), the World Bank's soft
loan affiliate, and is seeking a greater share of a bigger fund
for Africa, they said.
    Officials said under the last IDA replenishment Africa got
37 pct of 8.7 billion dlrs, but the Reagan administration wants
this increased to 45-50 pct of 12.8 billion dlrs in new funds.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9538" NEWID="4625">
<DATE>12-MAR-1987 23:22:50.74</DATE>
<TOPICS><D>gnp</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>sprinkel</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0974&#31;reute
u f BC-U.S.-OFFICIALS-DISAGR   03-12 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. OFFICIALS DISAGREE ON REDUCING BUDGET DEFICIT</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>Senior U.S. Economic officials
disagree on the likelihood the government can meet its budget
deficit reduction targets.
    Beryl Sprinkel, chairman of the Council of Economic
Advisers, reiterated the Reagan Administration's opposition to
a tax increase and its pledge to reduce the deficit by cutting
spending and fostering economic growth.
    By contrast, Rudolph Penner, Director of the Congressional
Budget Office, said the budget process has broken down and the
deficit will remain close to 200 billion dlrs for fiscal 1987.
    Sprinkel told a symposium sponsored by New York University
that spending could be cut by avoiding decisions based on the
desire to influence votes and by shifting the responsibility
for local projects to state governments.
    He also suggested a line-item veto, which allows the
President to veto parts of bill without rejecting all of it, to
limit wasteful spending. Spending and taxing decisions should
be linked more closely.
    Sprinkel said the Administration still looks for 2.7 pct
growth in U.S. Real gross national product (GNP) in 1987 and
3.5 pct in 1988.
    Asked if the latest economic reports signal this rate of
economic growth is attainable, Sprinkel said, "It looks pretty
good to me. We've had two very strong employment reports."
    He also said federal reserve policy is appropriate, adding,
"It looks like they're on track."
    While further reductions are needed in the trade deficit,
Sprinkel said the lower dollar is having an impact.
    The new 1987 tax laws will not hurt the economy and the tax
reform act of 1986 significantly lowers tax rates and will
greatly increase private production incentives, he said.
    "Our estimates at the Council of Economic Advisers suggest
national net output of goods and services will permanently
increase by approximately two pct because of the long-run
consequences of tax reform," Sprinkel said. "In 1986, this would
have amounted to an increase of approximately 600 dlrs in the
income of the average American family."
    Sprinkel also argued the 1981 tax cuts were not responsible
for the large increase in the budget deficit.
    In fiscal 1986 ending September, federal spending amounted
to 23.8 pct of GNP, while federal receipts absorbed 18.5 pct of
GNP, leaving a deficit of 5.3 pct, he said.
    Sprinkel said that, compared with fiscal 1978, the 1986
federal expenditure share of GNP is 2.7 percentage points
higher and the revenue share of GNP is virtually the same.
    "Contrary to the conventional wisdom, therefore, the 1981
tax cut is not the root cause of the extraordinary budget
deficits of the past few years," Sprinkel said.
    "This tax cut merely rolled back the inflation-induced tax
increases that occurred between 1978 and 1981," he added.
    However, the Congressional Budget Office's Rudolph Penner
argued that the tax cut in 1981 was misguided.
    "Since making the big mistake in 1981 of cutting taxes
enormously without any plan to decrease spending by the
Administration or Congress, indeed with increases in defence
spending, now all the options (for reducing the budget deficit)
are unpleasant," he said.
    Penner said the tax cut resulted from the ideological
turmoil in the U.S. Caused by the "biggest sustained inflation
in our nation's history," which helped foster widespread
distrust of government.
    "The American people turned on the government with tax
revolt at the state level and new demands on the government at
the national level," Penner said.
    "But their dislike of taxes exceeded their general dislike
of spending programs. Now the correction of that 1981 mistake
demands that the system change a lot."
    Penner sees little hope the Gramm-Rudman-Hollings budget
deficit reduction targets will be met and said the deficit will
remain at roughly 200 billion dlrs this year.
    He said a budget process that sets targets arbitrarily is
not likely to succeed.
    "I feel pretty safe in saying that any process that tries to
dictate a numerical outcome from above is doomed to fail simply
because there's no ... Way to enforce it," Penner said.
    Penner questioned the methods by which the 1987 budget
deficit was cut. He said 18 to 19 billion dlrs were eliminated
by one-time measures, such as a temporary increase in taxes
related to tax reform and sales of government assets.
    "Another four billion dlrs was cut by what I call creative
timing changes, like moving the military payday from the last
day of fiscal 1987 to the first day of fiscal 1988. That saved
more than two billion dlrs," Penner said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9539" NEWID="4626">
<DATE>12-MAR-1987 23:37:15.33</DATE>
<TOPICS></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0981&#31;reute
u f BC-ADSTEAM-LOOKING-TO-BR   03-12 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>ADSTEAM LOOKING TO BRITISH MARKET FOR INVESTMENT</TITLE>
<DATELINE>    ADELAIDE, March 13 - </DATELINE><BODY>Diversified industrial and investment
group The Adelaide Steamship Co Ltd &lt;ADSA.S> said it was
looking to the British market for future investment in view of
high share prices and interest rates in Australia.
    "Because of lower interest rates and improved economic
statistics, we believe the U.K. At the present time offers
better value and we hold strategic investments in that market,"
it said in a statement.
    Adsteam did not name any British investments but it has
disclosed a stake in Blue Circle Industries Plc &lt;BCIL.L>, last
stated by Adsteam in London at 6.85 pct in late February.
    Adsteam said it was continuing to look for investment
opportunities both in Australia and overseas, but with the
Australian stock market at record levels, opportunities to
acquire companies on reasonable investment criteria were
limited.
    As earlier reported, Adsteam will raise 228.5 mln dlrs for
working capital and investment both in Australia and overseas
through a one-for-five rights issue at 11.50 dlrs a share.
    "We expect to enter 1988 in a highly liquid position and
will be looking to take advantage of investment opportunities
as they arise," it said.
    Nevertheless, Adsteam said it continues to be a large
investor in the Australian market through its equity-accounted
associates and through other major investments.
    "We have enjoyed a very substantial increase in the market
value of our investments over the course of this financial
year, but we are concerned at the economic fundamentals which
persist in Australia, particularly the high interest rates
which currently apply," it said.
    Adsteam also said it had hedged part of its Australian
stock market portfolio in the futures market and had hedged all
foreign currency borrowings.
    Realised losses from futures hedging have been brought to
account as extraordinary items but unrealised gains from
investments significantly exceed realised and unrealised losses
on hedging, Adsteam said.
    In its earlier reported first half ended December 31,
Adsteam posted an extraordinary loss of 20.39 mln dlrs against
a 13.79 mln profit a year earlier.
    Equity-accounted net profit before extraordinaries rose to
75.05 mln dlrs from 55.68 mln a year earlier.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9540" NEWID="4627">
<DATE>12-MAR-1987 23:50:57.44</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D><D>philippines</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0998&#31;reute
u f BC-KIDNAPPED-JAPANESE-BU   03-12 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>KIDNAPPED JAPANESE BUSINESSMAN ALIVE - CARDINAL</TITLE>
<DATELINE>    MANILA, March 13 - </DATELINE><BODY>Kidnapped Japanese businessman Noboyuki
Wakaoji is alive and well and may soon be released, Cardinal
Jaime Sin, the archbishop of Manila, said.
    Wakaoji, head of the Philippines branch of Mitsui and Co
Ltd, is being visited on a daily basis by a senior priest, Sin
told reporters at a briefing. He refused to reveal Wakaoji's
whereabouts.
    The businessman was kidnapped last November and his captors
have demanded a five mln dlr ransom from Mitsui.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9541" NEWID="4628">
<DATE>13-MAR-1987 00:27:37.31</DATE>
<TOPICS></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE><D>hawke</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0007&#31;reute
u f BC-AUSTRALIAN-BUSINESS-U   03-13 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIAN BUSINESS URGED TO RESTRAIN PROFITS</TITLE>
<DATELINE>    CANBERRA, March 13 - </DATELINE><BODY>Australian Prime Minister Bob Hawke
called on businessmen to hold their salaries and profit margins
as part of his campaign for economic restraint.
    In a speech to the National Press Club, Hawke said business
"must not puncture the spirit of community restraint" evident in
low wage increases and suppressed consumer demand.
    Hawke said the Federal Government would coordinate with
State administrations to monitor prices and profit margins.
    "At a time when a concerted national effort to restrain
costs is required, profit margins should not be increased," he
said.
    Direct price control did not appeal to the government, but
it would act to ensure market forces operated fairly and
businesses were reminded of their obligations to Australia,
Hawke said.
    The government would demonstrate its commitment with
spending cuts in its May 14 economic statement, he said.
    It would also limit increases in government excises
normally indexed to inflation to about six pct, Hawke said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9542" NEWID="4629">
<DATE>13-MAR-1987 00:49:15.19</DATE>
<TOPICS><D>trade</D><D>bop</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0020&#31;reute
u f BC-AUSTRALIAN-TERMS-OF-T   03-13 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIAN TERMS OF TRADE WORSEN IN LAST QUARTER</TITLE>
<DATELINE>    CANBERRA, March 13 - </DATELINE><BODY>Australia's terms of trade fell by a
further 3.5 pct in the fourth quarter of 1986 after declining
0.8 pct in the third quarter and 2.7 pct a year earlier, the
Statistics Bureau said.
    It said the seasonally adjusted current account deficit of
3.22 billion dlrs in the quarter would have dropped to 912 mln
if not for the terms of trade decline.
    The fourth quarter decline followed a 1.1 pct fall in
export prices and a 2.4 pct rise in import prices, it said.
    The Bureau noted Australia's terms of trade had fallen by
19.9 pct since the fourth quarter of 1983.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9543" NEWID="4630">
<DATE>13-MAR-1987 00:50:19.21</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T C
&#22;&#22;&#1;f0021&#31;reute
r f BC-CHINA-FACES-DILEMMA-O   03-13 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA FACES DILEMMA OVER SUGAR IMPORTS</TITLE>
<AUTHOR>    By Mark O'Neill, Reuters</AUTHOR>
<DATELINE>    PEKING, March 13 - </DATELINE><BODY>China has to decide if it will increase
sugar imports this year to cover falling domestic output and
rising demand, in view of market predictions that international
sugar prices will remain firm this year, traders and the
official press said.
    He Kang, Minister of Agriculture, Animal Husbandry and
Fisheries, said this week that China has adjusted the
purchasing price for sugar cane and beet to check a drop in
production last year but he gave no price details.
    One Japanese trader said domestic demand is rising rapidly
because of improving living standards and rising demand for
sweet drinks, cakes and biscuits and other sugary foods.
    "It will not be easy to cut domestic demand, even in a
state-controlled economy. China may have to import," he said.
    Customs figures show imports fell to 1.182 mln tonnes in
1986 from 1.909 mln in 1985 and fell to 25,165 tonnes in
January 1987 from 54,000 in January 1986.
    The official Economic Information newspaper last month said
production in the 1986/87 crushing season (September-April)
will be 1.18 mln tonnes short of demand.
    The paper put 1986/87 output at 4.82 mln, down from 5.24
mln in 1985/86, and domestic demand at about six mln tonnes.
    "In the last two years, acreage under sugar cane and beet
has fallen, sugar mills are underutilised, output has dropped
and cannot meet demand that is rising every day," it said.
    "The country will have to continue imports of sugar and draw
down stocks to meet market demand," it added.
    It quoted the Ministry of Light Industry as blaming the
drop in output on unreasonable state purchasing prices for cane
and beet as against other crops, which has resulted in farmers
refusing to grow them.
    The paper said in 1985 a farmer could earn up to three
times more per hectare from pineapple and watermelon and up to
seven times more from bananas than from sugarcane. He could
sell grain on the free market at 560 yuan a tonne, against only
70 yuan a tonne for sugarcane.
    Sugar mills are suffering because refined sugar prices have
not changed for 20 years despite rising costs, it said.
    In Fujian, the cost of producing one tonne rose to 702 yuan
in 1985 from 520.1 in 1980, cutting the mills' profit to 117
yuan a tonne from 217.9, it added.
    The paper said unreasonable pricing resulted in 144 of the
442 sugar mills working in the 1985/86 crushing season losing
money. China has 521 sugar mills.
    A foreign agricultural expert forecast a drop in cane
acreage in 1986/87 (September-August) of up to 10 pct in
Guangdong, which produced 45 pct of China's sugar in calendar
1985, and a smaller drop in Fujian, which produced 11 pct of
China's sugar in calendar 1985.
    He said both provinces are more developed than other
sugar-producing areas and more sensitive to demand from cities.
    But cane acreage in Guangxi and Yunnan, which accounted for
28 pct of the 1985 crop, has risen by 10 to 30 pct in 1986/87,
because cane-growing is more economic there, he said.
    He put sugar stocks at 2.333 mln tonnes in September 1986.
    A Hong Kong trader estimated stocks at more than three mln
at end-January. "Now they are falling but (they) have not
reached the critical level, compelling China to import quickly,"
he said.
    "China has options not easily available in western
countries. It controls stocks strictly and can release less
into the consumer market if stocks fall too quickly," he said.
    The Hong Kong trader said calendar 1987 imports will be
slightly less than those of 1986, because of firm world prices
and serious foreign exchange constraints which, he said, are
likely to continue until at least end-1988.
    He said nearly all cane and beet is sold to the state-owned
mills, with a small amount sold raw to consumers.
    "Most of the mills are old and inefficient, with many of
them using Soviet equipment imported in the 1950s," he said.
    He said demand in rural areas will in future rise an annual
four pct, with demand in the cities rising an annual two pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9544" NEWID="4631">
<DATE>13-MAR-1987 01:05:12.15</DATE>
<TOPICS><D>livestock</D><D>carcass</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;L
&#22;&#22;&#1;f0030&#31;reute
r f BC-JAPAN-SETS-1987/88-FI   03-13 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN SETS 1987/88 FIRST HALF BEEF IMPORT QUOTA</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>The Agriculture Ministry said it set
Japan's beef import quota for the six months from April 1 at
93,000 tonnes, up from 83,000 in the second half of 1986/87 and
85,000 a year earlier.
    Under an agreement with the U.S. And Australia, Japan has
been increasing imports by 9,000 tonnes a year from March 31,
1985, to reach a projected 177,000 tonnes in the year to March
31, 1988.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9545" NEWID="4632">
<DATE>13-MAR-1987 01:23:35.18</DATE>
<TOPICS><D>trade</D></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;f0033&#31;reute
u f BC-JAPAN-DENIES-BREAKING   03-13 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN DENIES BREAKING SEMICONDUCTOR TRADE PACT</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>Japan denied breaking a pact with the
U.S. On semiconductor trade but said prices set out in the pact
were too high and acknowledged difficulties in implementing the
accord.
    "We are faithfully abiding by the ... Agreement but of
course there are some problems," a spokesman for the
International Trade and Industry Ministry told Reuters.
    He said the high semiconductor prices recommended by the
agreement were leaving Japanese manufacturers piling up stocks
of unsellable products. "We are aiming to reduce production in
Japan but of course this takes time," he said.
    The spokesman said some Japanese companies were selling
chips in Europe and Asia below stipulated prices, but added: "It
is only a matter of time before we solve this problem."
    The eight month old pact aims to stop Japan selling large
quantities of chips at knock-down prices to the United States
and other countries and to increase U.S. Semiconductor sales in
Japan.
    The U.S. Senate Finance Committee this week called on
President Reagan in a non-binding resolution to retaliate
against Japan for violating the agreement.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9546" NEWID="4633">
<DATE>13-MAR-1987 02:12:51.84</DATE>
<TOPICS><D>money-fx</D><D>yen</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>tamura</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0062&#31;reute
b f BC-JAPAN-MINISTER-SAYS-A   03-13 0117</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN MINISTER SAYS ABOUT 170 YEN APPROPRIATE</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>International Trade and Industry Minister
Hajime Tamura told a parliamentary session Japan's small- and
medium-sized enterprises are seriously suffering from the yen's
rise and can only stand levels around 170 yen.
    He also said he still believes a dollar exchange rate level
plus or minus 10 yen from 170 yen would be within levels agreed
upon last month in Paris by six major industrial nations.
Finance ministers of Britain, Canada, France, Japan, the U.S.
And West Germany agreed on February 22 to cooperate in
stabilizing exchange rates around the current levels. The
dollar had closed here at 153.77 yen on February 20.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9547" NEWID="4634">
<DATE>13-MAR-1987 02:20:05.14</DATE>
<TOPICS><D>wpi</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0063&#31;reute
b f BC-GERMAN-WHOLESALE-PRIC   03-13 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN WHOLESALE PRICES FALL 0.4 PCT IN FEBRUARY</TITLE>
<DATELINE>    WIESBADEN, March 13 - </DATELINE><BODY>West German wholesale prices fell 0.4
pct in February from January to stand 6.9 pct lower than in
February 1986, the Federal Statistics Office said.
    In January wholesale prices rose 0.8 pct from December to
stand 8.6 pct below their level in January 1986.
    Wholesale price declines were led by starch products, down
13 pct, light heating oil 11 pct lower, heavy heating oil 10
pct lower and green coffee down 6.9 pct.
    Among higher wholesale prices were those for fresh
vegetables, up 17 pct, fresh fruit up 12 pct and eggs up 8.9
pct, the statistics office said in a statement.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9548" NEWID="4635">
<DATE>13-MAR-1987 02:20:10.29</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0065&#31;reute
f f BC-SWISS-FEB-TRADE-DEFIC   03-13 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>SWISS FEB TRADE DEFICIT 629.7 MLN FRANCS (JAN DEFICIT 209.4 MLN) - OFFICIAL
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9549" NEWID="4636">
<DATE>13-MAR-1987 02:26:49.40</DATE>
<TOPICS><D>livestock</D><D>carcass</D></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;L
&#22;&#22;&#1;f0071&#31;reute
r f BC-AUSTRALIAN-BEEF-OUTPU   03-13 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIAN BEEF OUTPUT SEEN DECLINING IN 1987</TITLE>
<DATELINE>    SYDNEY, March 13 - </DATELINE><BODY>Australian beef output is forecast to
decline to 1.34 mln tonnes carcass weight in 1987 and 1.36 mln
in 1988 from 1.44 mln in 1986, the Australian Meat and
Live-Stock Corp (AMLC) said.
    Exports of beef/veal are also predicted to decline to
480,000 tonnes shipped weight in 1987 from 515,000 in 1986, and
then rally to 490,000 in 1988, the AMLC said in a summary of
its bi-annual meat and livestock forecasts.
    It sees cattle numbers remaining at around the 1986 level
of 23.2 mln beasts in both years because herd rebuilding is
expected to be slower than previously forecast.
    Beef producers are becoming more confident that higher
returns in the market, both domestically and overseas, will
continue, the AMLC said.
    The slow herd build-up and the forecast lower production is
expected to bring about a slight drop in both export and
domestic consumption this year, it said.
    The forecast does not assume a turnaround in production
levels until late next year.
    It said the outlook for beef exports as a proportion of
output remains much the same as last year when it was around 55
pct of total production. In 1985 it was 52 pct.
    The increase in exports of beef as a percentage of
production has mainly been attributed to the decline in the
Australian dollar, the AMLC said.
    It also forecast that Australia's four major markets, the
U.S., Japan, Canada and Taiwan, will continue to dominate the
chilled and frozen beef export markets. They take collectively
around 94 pct of total Australian exports.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9550" NEWID="4637">
<DATE>13-MAR-1987 02:29:13.28</DATE>
<TOPICS><D>grain</D></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f0076&#31;reute
u f BC-CHINA'S-JANUARY-GRAIN   03-13 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA'S JANUARY GRAIN EXPORTS FALL</TITLE>
<DATELINE>    PEKING, March 13 - </DATELINE><BODY>China's grain exports in January totaled
386,157 tonnes, down 22.1 pct from January 1986, customs
figures show.
    They gave no detailed breakdown.
    The official China Economic News quoted the figures as
showing tea exports rose 9.7 pct to 8,474 tonnes during the
month.
    Imports of wool rose 117.6 pct to 10,248 tonnes over the
same period, the figures show.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9551" NEWID="4638">
<DATE>13-MAR-1987 02:30:02.28</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0078&#31;reute
b f BC-SWISS-FEBRUARY-TRADE   03-13 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>SWISS FEBRUARY TRADE DEFICIT 629.7 MLN FRANCS</TITLE>
<DATELINE>    BERNE, March 13 - </DATELINE><BODY>Switzerland had a trade deficit of 629.7
mln Swiss francs in February compared with a revised 209.4 mln
deficit in January and 723.2 mln shortfall in February 1986,
the Federal Customs Office said.
    February imports were 6.00 billion francs against exports
of 5.37 billion.
    Imports rose in real terms by 5.1 pct against February 1986
while exports rose by a real 4.6 pct, the office said.
    But a further improvement in the terms of trade left the
deficit smaller than last year.
    Last February's figure had also been hit by the import of
two passenger aircraft.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9552" NEWID="4639">
<DATE>13-MAR-1987 02:36:46.16</DATE>
<TOPICS></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0084&#31;reute
u f BC-AUSTRALIAN-TREASURY-N   03-13 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>AUSTRALIAN TREASURY NOTE TENDER 700 MLN DLRS</TITLE>
<DATELINE>    SYDNEY, March 13 - </DATELINE><BODY>The Reserve Bank of Australia said it
would offer 500 mln dlrs of 13-week treasury notes and 200 mln
dlrs of 26-week notes for tender next week
    The Bank said it would take up 300 mln dlrs of the 13-week
notes at the average yield. It is not taking up any 26-week
notes.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9553" NEWID="4640">
<DATE>13-MAR-1987 02:44:37.52</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0090&#31;reute
u f BC-JAPAN-SHIPBUILDERS-SE   03-13 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN SHIPBUILDERS SEEK CARTEL TO RESTRICT OUTPUT</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>Japanese shipbuilders have applied to the
state's Fair Trade Commission to form a cartel to restrict
tonnage built to about half of total capacity for the year
starting April 1, officials of the Shipbuilders Association of
Japan said.
    Under the plan, 33 yards capable of building ships of more
than 10,000 gross tons will curtail operations to three mln
compensated gross registered tonnes (CGRT) a year against
capacity of about six mln CGRT.
    The Transport Ministry estimates new orders at 3.3 mln CGRT
in the year to March 1988 and 3.1 mln the following year.
    The industry has curtailed production due to oversupply
nearly every year since 1977/78, under cartel or Transport
Ministry guidelines. The latest guidelines call for a ceiling
of four mln CGRT in the year to March 31.
    The cartels, self-imposed and self-regulated, are not
legally binding, but industry finds it in its own interest to
stick to them.
    The slowdown in orders has been caused by the strong yen
and a protracted worldwide shipbuilding slump.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9554" NEWID="4641">
<DATE>13-MAR-1987 03:11:46.72</DATE>
<TOPICS><D>wpi</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0108&#31;reute
u f BC-SWISS-WHOLESALE-PRICE   03-13 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>SWISS WHOLESALE PRICES FALL 0.3 PCT IN FEBRUARY</TITLE>
<DATELINE>    BERNE, March 13 - </DATELINE><BODY>Swiss wholesale prices fell by 0.3 pct in
February, giving a drop of 4.3 pct from February 1986, the
Federal Office of Industry, Trade and Labour said.
    Prices had been unchanged in January, giving an annual drop
of 4.6 pct. They fell by 2.6 pct in the year to February 1986.
    The wholesale price index, base 1963, stood at 168.5 in
February from 176.1 last year.
    The office said the fall was largely due to lower prices
for energy, raw materials and semi-finished goods. Consumer
goods prices rose slightly.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9555" NEWID="4642">
<DATE>13-MAR-1987 03:13:28.29</DATE>
<TOPICS></TOPICS>
<PLACES><D>bangladesh</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>worldbank</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0110&#31;reute
u f BC-BANGLADESH-TO-SEEK-WO   03-13 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>BANGLADESH TO SEEK WORLD BANK HELP FOR INDUSTRY</TITLE>
<DATELINE>    DHAKA, March 13 - </DATELINE><BODY>Bangladesh will seek additional money
from the World Bank to finance industrial development which is
facing a capital shortage and a lack of expertise, Finance
Ministry officials said.
    They said the government had revised downward its Annual
Development Programme budget for this fiscal year by seven pct
to 44.4 billion Taka.
    A team will visit Washington next month for talks with
World Bank executives and to ask for 200 mln dlrs from the
bank's Industrial Programme Credit scheme, they said.
    The new money would be in addition to nearly two billion
dlrs aid which the World Bank, other leading agencies and donor
countries are expected to offer Bangladesh for the year from
July at their Paris meeting next month. They offered 1.85
billion dlrs to the country in 1986/87.
    The Annual Development Programme budget has been cut mainly
because of poor tax collection and a fall in public and private
sector industrial investment, the Finance Ministry officials
said. They said they expect a two pct growth in the industrial
sector this year, against a target of five pct and a growth of
1.5 pct in 1985. They gave no further details.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9556" NEWID="4643">
<DATE>13-MAR-1987 03:21:55.68</DATE>
<TOPICS></TOPICS>
<PLACES><D>singapore</D><D>usa</D><D>uk</D><D>japan</D><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>simex</D><D>cbt</D><D>liffe</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0124&#31;reute
u f BC-SINGAPORE-MONETARY-EX   03-13 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>SINGAPORE MONETARY EXCHANGE FACES NON-ASIAN RIVALS</TITLE>
<AUTHOR>    By Tay Liam Hwee, Reuters</AUTHOR>
<DATELINE>    SINGAPORE, March 13 - </DATELINE><BODY>Expanding global links between
futures markets mean that the Singapore International Monetary
Exchange (SIMEX) must add Chicago and London to its list of
rivals, banking sources said.
    When SIMEX and the Sydney Futures Exchange (SFE) introduced
U.S. Treasury bond futures last autumn, the sources expected to
see fierce rivalry between the two exchanges, ending with only
one winner in Asia.
    But surprisingly, the challenges now appear to be coming
from the other side of the world, they said.
    The Chicago Board of Trade (CBOT) will introduce night
trading in its U.S. Treasury bond contract on April 30, which
could clash with SIMEX morning activity, banking sources said.
    The CBOT had planned to introduce night trading on April 2,
but postponed the move to allow participants time to prepare.
    The London International Financial Futures Exchange (LIFFE)
could cut further into the SIMEX contract with a U.S. Treasury
bond contract that can be offset on the CBOT, they said. Such a
LIFFE contract is expected later this year.
    LIFFE liquidity could be higher than at the SIMEX, where
average daily volume in Treasury bonds dropped to 165 in
February from 1,286 last October when the bonds were first
introduced.
    The contracts were set up to attract hedging from the
rapidly growing underlying cash market in U.S. Treasury bonds
in Toyko, but interest has waned as that market has grown more
stable, traders said.
    Restrictions on investments by Japanese residents have also
inhibited the growth of the futures contracts in both Singapore
and Sydney, the banking sources said.
    Nevertheless, all 450 seats on SIMEX are now taken, with
the last trading at 55,000 dlrs against the initial price of
50,000 dlrs. The current bid is 55,500 dlrs, but offers at
65,000 show that confidence in SIMEX remains, said Michael
Killian, general manager of Chase Manhattan Futures Corp.
    Killian, a SIMEX board member, said the CBOT night session
might raise arbitrage opportunities and SIMEX would benefit
from a local stock exchange index contract planned for the end
of 1987. SIMEX also became more competitive after this month's
budget eliminated withholding tax on interest earned on futures
margin deposits.
    Banking sources said the tax change would boost SIMEX
trading by non-bank institutions and individuals and would
benefit foreign firms and institutions.
    While the Treasury bond contract has been somewhat
disappointing, other SIMEX contracts continue to expand, Fong
Yew Meng, SIMEX assistant general manager, told Reuters.
    Volume in the SIMEX's Nikkei stock index, based on the
Tokyo stock market, has risen to a daily average of more than
1,000 contracts this month, from 320 contracts last October,
helped by uncertainty during the recent bull run in Tokyo
stocks, Fong said.
    Open interest in the Nikkei contract, introduced last year,
reached a record 2,697 on February 26.
    Killian said the Nikkei contract has considerable potential
for expansion, as overseas investors have been avoiding the
contract because they currently see no need to hedge the rising
cash market in Tokyo.
    SIMEX is also enjoying record trading in other contracts.
In February, total volume on the exchange reached a record
122,819 contracts, surpassing the previous monthly record of
116,767 set in September. Eurodollar volume reached a record
78,546 contracts last month against 70,306 in September.
    SIMEX is likely to try to maintain its growth by moving
into options soon, but competition continues regionally as well
as globally, banking sources said.
    The Sydney exchange plans to introduce by June a share
index futures contract based on a composite of stocks on which
equity options are traded, which could generate more liquidity
than the ordinary index, banking sources said.
    Local interest in the Sydney Treasury bond contract may
also flare if the Sydney exchange establishes a three-way link
with Chicago and London, traders in Sydney said.
    LIFFE is discussing such a link with the CBOT, they said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9557" NEWID="4644">
<DATE>13-MAR-1987 03:29:28.77</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;f0134&#31;reute
u f BC-KUBOTA-LTD-&lt;KUB.T>-TH   03-13 0049</UNKNOWN>
<TEXT>&#2;
<TITLE>KUBOTA LTD &lt;KUB.T> THIRD QUARTER TO JANUARY 15</TITLE>
<DATELINE>    TOKYO, March 13 -
    </DATELINE><BODY>Group shr 53 yen vs 22
    Net profit 3.58 billion vs profit 1.47 billion
    Pretax profit 4.94 billion vs loss 248 mln
    Operating profit 5.36 billion vs profit 789 mln
    Sales 127.34 billion vs 130.22 billion
    Nine months ended January 15
    Group shr 134 yen vs 119
    Net 9.10 billion vs 8.03 billion
    Pretax 19.78 billion vs 14.77 billion
    Operating 17.35 billion vs 16.00 billion
    Sales 430.06 billion vs 446.26 billion
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9558" NEWID="4645">
<DATE>13-MAR-1987 03:42:48.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>hong-kong</D><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0145&#31;reute
u f BC-NATIONAL-AUSTRALIA-BA   03-13 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>NATIONAL AUSTRALIA BANK PLANS 75 MLN DLR CD ISSUE</TITLE>
<DATELINE>    HONG KONG, March 13 - </DATELINE><BODY>The National Australia Bank's Hong
Kong branch is planning a 75 mln Australian dlr floating rate
certificate of deposit (CD) issue, banking sources said.
    The three-year issue, which matures April 9, 1990, is in
two tranches. Tranche A of 50 mln dlrs carries interest at 30
basis points below one-month bank bill rate, payable monthly,
and tranche B of 25 mln dlrs carries interest at 25 basis
points below three-month bank bill rate, payable quarterly.
    Fee for co-managers is 1/8 pct.
    Lead manager is BT Asia Ltd, and syndication is expected to
close on March 16.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9559" NEWID="4646">
<DATE>13-MAR-1987 03:47:18.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0152&#31;reute
u f BC-BOND-CORP-DETAILS-BON   03-13 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>BOND CORP DETAILS BOND MEDIA ISSUE</TITLE>
<DATELINE>    PERTH, March 13 - </DATELINE><BODY>Bond Corp Holdings Ltd &lt;BONA.S> said its
previously announced float of &lt;Bond Media Ltd> will be on the
basis of three shares at 1.55 dlrs each for every four Bond
Corp shares.
    For each five Bond Corp shares, Bond Media shareholders
will receive one free option exercisable up to March 1991, also
at 1.55 dlrs, Bond said in a statement.
    Bond Media will be owned about 50 pct by Bond Corp.
    Bond Corp is injecting Kerry Packer's electronic media
interests, which it purchased for one billion dlrs, into Bond
Media. It is also injecting Bond's own media holdings.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9560" NEWID="4647">
<DATE>13-MAR-1987 03:53:02.42</DATE>
<TOPICS></TOPICS>
<PLACES><D>australia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0157&#31;reute
u f BC-EMPEROR-MINES-TO-FLOA   03-13 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>EMPEROR MINES TO FLOAT GOLD INVESTMENT COMPANY</TITLE>
<DATELINE>    MELBOURNE, March 13 - </DATELINE><BODY>Fiji gold miner &lt;Emperor Mines Ltd>
said it will float a gold investment company in the Isle of Man
to be known as &lt;Odin Mining and Investment Co Ltd>.
    Sixty pct of Odin's 51 mln issued shares will be offered to
Emperor shareholders on a one-for-one non-renounceable basis at
1.20 Australian dlrs each, it said in a statement.
    Each share will carry a free option exercisable at the same
price up to March 1992.
    Odin in turn will be allotted a 10 pct stake in Emperor at
6.06 dlrs a share against the market level of about 7.70 dlrs.
    Odin shares will be listed in Australia and New Zealand.
    Emperor said Odin's chief activity would be strategic
investment in emerging gold companies and projects.
    Emperor's 22 pct stake in Australia's &lt;Nullarbor Holdings
Ltd> and 10 pct stake in Canada's &lt;Osborne and Chappel
Goldfields Ltd> will be transferred to Odin at substantial
discounts to their market prices, it said.
    The offer will not be available to shareholders registered
in the U.S. And Britain in view of compliance costs, it said.
    But David Kingston, of advisers &lt;Rothschild Australia Ltd>,
told Reuters those few shareholders were being urged to switch
their registrations to an Australian nominee.
    Kingston said about 65 to 70 pct of Emperor's shareholders
are domiciled outside Australia, but the vast majority are
registered through Australian nominees and are thus entitled to
participate.
    Stockbroker &lt;Ord Minnett Ltd> will underwrite the issue,
Emperor said.
    Odin shares are expected to be listed in May, it added.
    Emperor changed its domicile to the Isle of Man from
Australia last October because of changes in Australian tax
laws that would affect its tax position, even though it has no
activities in Australia.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9561" NEWID="4648">
<DATE>13-MAR-1987 03:54:34.68</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM M C
&#22;&#22;&#1;f0160&#31;reute
u f BC-JAPAN-CABINET-APPROVE   03-13 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN CABINET APPROVES BILL ON GOLD COIN ISSUES</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>The cabinet has approved a bill making it
easier for the government to issue commemorative coins, a
Finance Ministry official said.
    The bill, which must still be approved by parliament, would
take effect in April 1988. It would allow the government to
issue 1,000, 5,000 and 10,000 yen coins without special
legislation, although higher-valued coins would still need a
special law, the official said. At present it can only issue
coins of 500 yen or less.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9562" NEWID="4649">
<DATE>13-MAR-1987 04:07:32.11</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0170&#31;reute
b f BC-SANDOZ-AG-&lt;SANZ.Z>-YE   03-13 0066</UNKNOWN>
<TEXT>&#2;
<TITLE>SANDOZ AG &lt;SANZ.Z> YEAR 1986</TITLE>
<DATELINE>    BASLE, March 13 - </DATELINE><BODY>Group 1986 net profit 541 mln Swiss
francs vs. 529 mln
    Dividend 105 francs per 250 francs nominal share vs. 100,
21 francs per 50 franc nominal participation certificate vs 20
    Group Turnover 8.36 billion francs vs. 8.45 billion
    Cash Flow 956 mln francs vs. 941 mln
    Parent company net profit 153.8 mln francs vs. 135.3 mln
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9563" NEWID="4650">
<DATE>13-MAR-1987 04:12:19.03</DATE>
<TOPICS><D>veg-oil</D><D>palm-oil</D></TOPICS>
<PLACES><D>india</D><D>malaysia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f0174&#31;reute
u f BC-INDIA-IN-COUNTERTRADE   03-13 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>INDIA IN COUNTERTRADE DEAL FOR MALAYSIAN PALM OIL</TITLE>
<DATELINE>    NEW DELHI, March 13 - </DATELINE><BODY>India is to partially cover the cost
of its Malaysian palm oil imports through a countertrade deal
involving the construction of two bridges valued at 20 mln
dlrs, an Indian trade source told Reuters.
    He said Malaysia agreed to the oil-for-bridges deal in
October after India said it could no longer buy some 700,000
tonnes of palm oil a year because of its trade deficit.
    Malaysia has also agreed to barter palm oil for 30 mln dlrs
of hydroelectric equipment and is interested in countertrading
for Indian iron ore, wheat and other goods and services, he
said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9564" NEWID="4651">
<DATE>13-MAR-1987 04:20:57.82</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0188&#31;reute
u f BC-JAPAN-CLARIFIES-FUND   03-13 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN CLARIFIES FUND MANAGEMENT REGULATIONS</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>The Finance Ministry has clarified
regulations governing fund management, satisfying overseas
critics who charged the rules were too tightly-drawn, ministry
officials and Western diplomats said.
    They said "double licensing" has been dropped so a foreign
fund management firm need apply only for a licence for its
Japanese subsidiary and not for the parent company as well.
    A foreign investment management company will be permitted
to employ only one fund manager in Japan, with another on
standby in the home country. Domestic companies must have two.
    In deciding whether a Japanese subsidiary of a foreign firm
is eligible to manage funds in Japan, the ministry will take
account of the amount of funds the parent company has under
management, a ministry official said.
    "This should make it very easy for foreign firms to meet the
criteria for a licence," he said without elaborating.
    He said the ministry expects to grant the first investment
management licences by the end of June. Some 135 firms,
including some 15 foreign companies, will probably be licensed
under the new law passed late last year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9565" NEWID="4652">
<DATE>13-MAR-1987 04:23:31.63</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0194&#31;reute
f f BC-ALUSUISSE-GROUP-1986   03-13 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE> ALUSUISSE GROUP 1986 NET LOSS 688 MLN SWISS FRANCS (LOSS 756 MLN)
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9566" NEWID="4653">
<DATE>13-MAR-1987 04:24:48.24</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0195&#31;reute
f f BC-ALUSUISSE-SAYS-IT-PLA   03-13 0008</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE> ALUSUISSE SAYS IT PLANS 50 PCT CAPITAL CUT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9567" NEWID="4654">
<DATE>13-MAR-1987 04:26:27.82</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0197&#31;reute
u f BC-BANK-OF-JAPAN-CALLS-F   03-13 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF JAPAN CALLS FOR LONG-TERM EFFORTS ON TRADE</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>The short-term effect of foreign exchange
rate movements in correcting international trade imbalances
appears to be waning, and long-term efforts are required to cut
Japan's chronic dependence on external demand, the Bank of
Japan said in a monthly report.
    Japan's trade surplus in nominal terms is likely to remain
high in the near future, the central bank said.
    Fundamental adjustments will be needed as long as Japan
hopes to benefit from a better international allocation of
resources and maintain the free trade system, it added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9568" NEWID="4655">
<DATE>13-MAR-1987 04:32:25.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>taiwan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0202&#31;reute
u f BC-TAIWAN-ENIVIRONMENTAL   03-13 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>TAIWAN ENIVIRONMENTAL PROTESTS BLOCK DU PONT PLANT</TITLE>
<DATELINE>    TAIPEI, March 13 - </DATELINE><BODY>The U.S. Company Du Pont De Nemours &lt;DD>
has abandoned plans to build a chemical factory near the west
coast port of Lukang after environmental protests.
    A company spokesman told a news conference yesterday that
Du Pont would conduct an environmental impact study and then
look for another site for the 160 mln U.S. Dlr titanium dioxide
plant, the largest foreign investment project in Taiwan.
    The decision came after almost a year of protests by
residents who feared pollution from the plant might ruin the
tourist industry and nearby fish farms.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9569" NEWID="4656">
<DATE>13-MAR-1987 04:34:43.42</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0207&#31;reute
f f BC-London---Floating-rat   03-13 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE> London - Floating rate note prices open sharply lower, dealers say
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9570" NEWID="4657">
<DATE>13-MAR-1987 04:35:55.90</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0209&#31;reute
b f BC-ALUSUISSE-&lt;ALUZ.Z>-YE   03-13 0077</UNKNOWN>
<TEXT>&#2;
<TITLE>ALUSUISSE &lt;ALUZ.Z> YEAR 1986</TITLE>
<DATELINE>    ZURICH, March 13 - </DATELINE><BODY>Net Loss 688 mln Swiss francs vs. Loss
756 mln
    Gross sales 5.93 billion vs. 8.51 billion
    Operating income 198 mln francs vs 256 mln
    Net extraordinary charges 592 mln vs 472 mln
    Note - Company plans 50 pct capital reduction, banks to
convert 300 mln francs of credit facilities to subordinated
loans. No immediate plans for capital increase. Company full
name Schweizerische Aluminium AG.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9571" NEWID="4658">
<DATE>13-MAR-1987 04:42:21.53</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES></PLACES>
<PEOPLE><D>subroto</D></PEOPLE>
<ORGS><D>opec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0218&#31;reute
f f BC-Opec-deliberately-und   03-13 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Opec deliberately under 15.8 mln barrel ceiling to defend price - Subroto
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9572" NEWID="4659">
<DATE>13-MAR-1987 04:44:36.15</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;f0224&#31;reute
u f BC-COUNTY-INCREASES-TESC   03-13 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>COUNTY INCREASES TESCO STAKE IN HILLARDS</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>&lt;County Ltd>, which is acting in concert
with Tesco Plc &lt;TSCO.L> in its 151.4 mln stg for supermarket
chain operator &lt;Hillards Plc>, has purchased 300,000 Hillards
ordinary shares at 316p per share, a statement said.
    These purchases, together with those made by County on 10
March, represent about 4.8 pct of Hillards issued ordinary
share capital, it said.
    Tesco's offer, made on March 10, values each Hillards
ordinary share at 305.5p, a 37.6 pct premium over the previous
day's  closing price. A cash alternative of 290.55p will be
made available.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9573" NEWID="4660">
<DATE>13-MAR-1987 04:45:08.91</DATE>
<TOPICS><D>wpi</D></TOPICS>
<PLACES><D>south-africa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0228&#31;reute
u f BC-S.-AFRICAN-PRODUCER-P   03-13 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>S. AFRICAN PRODUCER PRICE INFLATION FALLS SHARPLY</TITLE>
<DATELINE>    PRETORIA, March 13 - </DATELINE><BODY>South African year-on-year producer
price inflation fell to 14.9 pct in January against 16.4 pct in
December, Central Statistics Office figures show.
    The all items index (base 1980) rose a monthly 0.8 pct in
January to 233.9, after also rising 0.8 pct in December to
232.1.
    A year ago the index stood at 203.6 and year-on-year
producer price inflation at 22.2 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9574" NEWID="4661">
<DATE>13-MAR-1987 04:45:38.29</DATE>
<TOPICS></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0229&#31;reute
u f BC-SANDVIK,-DIAMANT-BOAR   03-13 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>SANDVIK, DIAMANT BOART IN ACCORD ON JOINT VENTURE</TITLE>
<DATELINE>    BRUSSELS, March 13 - </DATELINE><BODY>Sandvik AB &lt;SVIK.ST> and Belgian group
&lt;Diamant Boart SA> have completed preliminary negotiations on
forming a joint venture which will combine their oil and gas
drilling tools activities, Diamant Boart said in a statement.
    The two companies announced in January that they had signed
a letter of intent to form a venture in which each would have
equal stakes and which would have annual turnover of about 75
mln dlrs.
    In today's statement Diamant Board said "The results of the
negotiations support strong synergy between the two units
involved."
    Diamant Boart is a wholly owned subsidiary of Sibeka SA in
which Societe Generale de Belgique &lt;BELB.BR> has a 52 pct
stake.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9575" NEWID="4662">
<DATE>13-MAR-1987 04:49:41.18</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;f0234&#31;reute
b f BC-SUBROTO-SEES-OIL-MARK   03-13 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>SUBROTO SEES OIL MARKET CONTINUING BULLISH</TITLE>
<DATELINE>    JAKARTA, March 13 - </DATELINE><BODY>Indonesian Energy Minister Subroto said
he sees the oil market continuing bullish, with underlying
demand expected to rise later in the year.
    He told a press conference in Jakarta at the end of a
two-day meeting of South-East Asian Energy Ministers that he
saw prices stabilizing around 18 dlrs a barrel.
    "The sentiment in the market is bullish and I think it will
continue that way as demand will go up in the third or fourth
quarters," Subroto said.
    Asked about the prospect for oil prices, he said: "I think
they will stabilise around 18 dlrs, although there is a little
turbulence ..."
    "Of course the spot price will fluctuate, but the official
price will remain at 18 dlrs," he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9576" NEWID="4663">
<DATE>13-MAR-1987 04:51:30.39</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0236&#31;reute
u f BC-ALUSUISSE-PLANS-50-PC   03-13 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>ALUSUISSE PLANS 50 PCT CAPITAL CUT</TITLE>
<DATELINE>    ZURICH, March 13 - </DATELINE><BODY>Schweizerische Aluminium AG &lt;ALUZ.Z>,
Alusuisse, plans to reduce share and participation certificate
capital by 50 pct to cover losses in 1986 and those carried
forward from the previous year, chief executive Hans Jucker
said.
    Jucker told a news conference that the greatest drain on
its financial resources had been stopped, but after
extraordinary charges the net loss of 688 mln francs in 1986
was only slightly under the 756 mln loss of the previous year.
    The losses in 1986 and those carried over from 1985 made it
necessary to reduce capital by 50 pct, he said.
    However, Jucker said the company improved liquidity through
a recovery in cash flow and conversion of 300 mln Swiss francs
of credit into a subordinated loan.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9577" NEWID="4664">
<DATE>13-MAR-1987 04:52:09.23</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;f0238&#31;reute
b f BC-OPEC-DEFENDING-18-DLR   03-13 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>OPEC DEFENDING 18 DLR PRICE, SUBROTO SAYS</TITLE>
<DATELINE>    JAKARTA, March 13 - </DATELINE><BODY>Indonesian Energy Minister Subroto said
OPEC is deliberately under its production ceiling of 15.8 mln
barrels to defend its 18 dlr a barrel price target.
    He told reporters at an energy conference in Jakarta that
OPEC had decided to maintain its price level of 18 dlrs.
    "We are deliberately defending the price, so OPEC production
is less than 15.8 (mln) at the moment," he stated.
    Asked if OPEC would increase production if prices went
above 18 dlrs a barrel, he said this would be decided at the
next OPEC meeting in June. "We will discuss the market situation
then," he added.
    He said a meeting of the OPEC Differentials Committee had
been postponed because "there is no need for the meeting."
    He did not elaborate. The committee had originally been due
to meet in Vienna this week.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9578" NEWID="4665">
<DATE>13-MAR-1987 04:58:21.76</DATE>
<TOPICS><D>acq</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;f0244&#31;reute
u f BC-JAPAN-REJECTS-U.S.-OB   03-13 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN REJECTS U.S. OBJECTIONS TO FAIRCHILD SALE</TITLE>
<AUTHOR>    By Linda Sieg, Reuters</AUTHOR>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>A Foreign Ministry official dismissed
arguments made by senior U.S. Government officials seeking to
block the sale of a U.S. Microchip maker to a Japanese firm.
    "They appear to be linking completely unrelated issues,"
Shuichi Takemoto of the Foreign Ministry's North American
Division told Reuters.
    U.S. Commerce Secretary Malcolm Baldrige has asked the
White House to consider blocking the sale of &lt;Fairchild
Semiconductor Corp> to Japan's Fujitsu Ltd &lt;ITSU.T>, U.S.
Officials said yesterday.
    Baldrige expressed concern that the sale would leave the
U.S. Military dependent on a foreign company for vital high
technology equipment. Pentagon officials said Defence Secretary
Caspar Weinberger also opposes to the sale.
    U.S. Officials have also said the sale would give Fujitsu a
powerful role in the U.S. Market for supercomputers while
Japan's supercomputer market remains closed to U.S. Sales.
    Takemoto said national security should not be an issue
since the planned purchase of Fairchild from its current owner,
Schlumberger Ltd &lt;SLB>, does not include Fairchild's main
defence-related division.
    In addition, Takemoto said tension over the supercomputer
trade should not affect the sale as Fairchild does not make
supercomputers.
    Analysts noted that Fairchild does make sophisticated
microchips used in supercomputers. Fujitsu makes similar chips
and supplies them to U.S. Supercomputer makers, they said.
    Takemoto also dismissed U.S. Fears that the proposed
takeover would violate U.S. Antitrust law, saying "the purchase
would not result in Fujitsu monopolising the U.S. Semiconductor
market."
    Two separate issues appear to have come together to boost
pressure to block the purchase, industry analysts said.
    The move is in part an attempt to force Japan to open its
domestic market to more U.S. Supercomputer sales, they said.
    U.S. Officials have repeatedly charged that the Japanese
public sector is closed to U.S. Supercomputer sales despite
U.S. Firms' technological lead in the field.
    "The United States believes Japan will only react when
bullied, and this is a bullying ploy," Salomon Brothers Asia
analyst Carole Ryavec said.
    However, the analysts said more is at stake than
supercomputer sales as the U.S. Fears it is losing its vital
semiconductor industry to Japanese competitors.
    "The real issue is xenophobia in (the U.S.) Silicon Valley,"
said Tom Murtha of brokerage James Capel and Co.
    U.S.-Japanese tension over the semiconductor trade has
failed to subside despite recent efforts by Japan's Ministry of
International Trade and Industry (MITI) to get Japanese firms
to abide by a bilateral pact aimed at halting predatory pricing
and opening Japan's market.
    A MITI official said that while Japan is faithfully abiding
by the agreement, problems remain in halting the sale of
microchips in Europe and Southeast Asia at prices below those
set by the pact.
    "It is only a matter of time before we solve this problem,"
he told Reuters.
    Despite the furore, Fujitsu will proceed with talks on the
acquisition in line with the basic agreement reached with
Schlumberger last year, a Fujitsu spokeswoman told Reuters.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9579" NEWID="4666">
<DATE>13-MAR-1987 05:02:16.14</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;f0257&#31;reute
b f BC-BANK-OF-ENGLAND-OFFER   03-13 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF ENGLAND OFFERS EARLY HELP TO MONEY MARKET</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>The Bank of England said it invited an
early round of bill offers to help ease tight conditions in the
money market.
    The bank estimated today's liquidity shortage at about 1.10
billion stg.
    Bills maturing in official hands and the treasury bill
take-up would drain 1.21 billion stg from the system while a
rise in the note circulation and below target bankers' balances
would take out 265 mln and 180 mln respectively, the bank said.
    Against this, exchequer transactions would add a net 535
mln stg.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9580" NEWID="4667">
<DATE>13-MAR-1987 05:02:39.58</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0260&#31;reute
b f BC-OKB-ISSUES-100-MLN-CA   03-13 0079</UNKNOWN>
<TEXT>&#2;
<TITLE>OKB ISSUES 100 MLN CANADIAN DLR BOND</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>Oesterreichishce Kontrollbank AG is
issuing a 100 mln Canadian dlr eurobond due March 20, 1997 at
nine pct and priced at 101-7/8 pct, Morgan Guaranty Ltd said as
joint book-runner with LTCB International.
    The bond is available in denominations of 1,000 and 10,000
dlrs and will be listed in Luxembourg.
    Fees comprised 1-1/4 pct selling concession with 3/4 pct
for management and underwriting combined.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9581" NEWID="4668">
<DATE>13-MAR-1987 05:04:26.10</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>iran</D></PLACES>
<PEOPLE><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0263&#31;reute
u f BC-REAGAN-DID-NOT-RECALL   03-13 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>REAGAN DID NOT RECALL APPROVING ARMS DEAL, COUNSEL</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>President Reagan's legal adviser said
the President could not recall when he approved a 1985 arms
sale to Iran, the New York Times reported.
    "We were trying to stimulate his (Reagan's) recollection and
he had no recollection, although he remembered being surprised
about something," Peter Wallison, who is resigning, was quoted
as saying in an interview.
    "That led us to expect that he would not be able to recall
(the date) when he appeared before the Tower board," Wallison
said, referring to the question of whether Reagan gave prior
approval to an Israeli shipment of U.S. Arms to Iran.
    Wallison said John Poindexter, then head of the National
Security Council (NSC), kept him from probing the scandal for
weeks after it was first made public last November, the Times
reported.
    Wallison told the newspaper that Poindexter, who resigned
from his NSC post last November 25, refused to give him
information about the deal, despite pleas by former White House
Chief of Staff Donald Regan.
    "Regan told me on several occasions that he had been unable
to move Poindexter to include me in any of the discussions or
to provide me with ... The facts," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9582" NEWID="4669">
<DATE>13-MAR-1987 05:06:09.00</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0269&#31;reute
b f BC-CBS-ISSUES-400-MLN-DL   03-13 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>CBS ISSUES 400 MLN DLRS IN CONVERTIBLE DEBT</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>CBS Inc &lt;CBS.N> is issuing 400 mln dlrs
of convertible debt due April 7, 2002 with a coupon of five pct
and priced at par, said Morgan Stanley Ltd as lead manager.
    The securities are convertible into shares of CBS at a
price of 200 dlrs per share, which represents a premium of 26.2
pct over the company's closing stock price yesterday of 158.50
dlrs on the New York Stock Exchange.
    The issue is callable in the first three years only if the
stock prices rises abouve 130 pct of the conversion level.
There is a 1-1/2 pct selling concession and a one pct combined
management and underwriting fee.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9583" NEWID="4670">
<DATE>13-MAR-1987 05:06:58.84</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;f0272&#31;reute
u f BC-NAKASONE-REFUSES-TO-D   03-13 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>NAKASONE REFUSES TO DROP SALES TAX</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>Japan's Prime Minister Yasuhiro Nakasone
has refused to drop a proposed sales tax as debate on a draft
budget for 1987 resumed after a nine-day opposition boycott.
    "I have no plan to withdraw the sales tax as I think it is
the best policy (for Japan)," Nakasone told the budget committee
of the lower house of parliament.
    Kyodo News Agency said a small group of members of
Nakasone's ruling Liberal Democratic Party filed a complaint
with their local headquarters calling for his expulsion from
the party on the grounds he broke a campaign pledge by
introducing the sales tax.
    Nakasone admitted the tax was a major factor in an upper
house by-election defeat for his party on Sunday.
    The election was the first national-level poll since
Nakasone presented his plan for overhauling Japan's tax system,
which has remained unaltered for the past 36 years.
    The sales tax and the planned abolition of the tax-free
saving system are designed to offset proposed income and
corporate tax cuts.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9584" NEWID="4671">
<DATE>13-MAR-1987 05:08:48.63</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0279&#31;reute
u f BC-BRITISH-WHEAT-AREA-DO   03-13 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>BRITISH WHEAT AREA DOWN, MINISTRY CENSUS SHOWS</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>A total of 1.886 mln hectares was sown
to wheat in Britain, excluding Northern Ireland, up to December
1, 1986 for the 1987 crop, a Ministry of Agriculture census
shows.
    It compares with 1.925 mln planted in the same period 1985.
    The barley area was unchanged at 952,000 ha, but oilseed
rape increased to 393,000 from 333,000 ha.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9585" NEWID="4672">
<DATE>13-MAR-1987 05:10:17.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0280&#31;reute
u f BC-BELGIAN-GOVERNMENT-RE   03-13 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>BELGIAN GOVERNMENT REACHES BUDGETARY ACCORD</TITLE>
<DATELINE>    BRUSSELS, March 13 - </DATELINE><BODY>Senior Belgian cabinet ministers
reached an agreement on budgetary economies, which will allow
the net budgetary financing requirement to remain within
previously set limits, the government said in a statement.
    The statement, issued as ministers ended a marathon meeting
in the early hours of this morning, did not give further
details.
    However, Budget Minister Guy Verhofstadt said before the
meeting he was seeking economies of at least 21.2 billion
francs in order to keep the financing requirement at 418
billion francs this year, or eight pct of Gross National
Product.
    The government set this figure as its target for the
financing requirement last year when it announced a program of
cuts designed to reduce spending by 195 billion francs in 1987.
    However, Verhofstadt had claimed that subsequent
developments had meant that unless further cuts were found, the
financing requirement would be considerably higher.
    Last year, Belgium had a financing requirement of 561
billion francs, or 11.0 pct of GNP.
    A government spokeswoman said the accord would be
considered by the full cabinet later today, and Prime Minister
Wilfried Martens would announce it to Parliament on Monday.
    She said no details would be made public before then.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9586" NEWID="4673">
<DATE>13-MAR-1987 05:12:44.62</DATE>
<TOPICS></TOPICS>
<PLACES><D>india</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0283&#31;reute
u f BC-INDIA'S-FIRST-EVER-RA   03-13 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>INDIA'S FIRST EVER RAIL BOND ISSUE OVERSUBSCRIBED</TITLE>
<DATELINE>    NEW DELHI, March 13 - </DATELINE><BODY>State-owned Indian Railway Finance
Corporation's first ever bond issue has been oversubscribed by
3.5 to 6.0 billion rupees, brokers said.
  The 2.5 billion rupee issue consisted of 10-year maturity
bonds of 1,000 rupees each, earning 10 pct tax free interest.
They were listed for subscription on major stock exchanges from
March 2 to March 7.
    The Corporation has sought Finance Ministry permission to
retain the entire oversubscribed amount, brokers said. "The
collection of such a large amount within just one working week
is a record for the Indian capital market," one broker said.
  REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9594" NEWID="4674">
<DATE>13-MAR-1987 05:13:44.43</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0285&#31;reute
r f BC-TAX-REVENUES-BOOST-U.   03-13 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>TAX REVENUES BOOST U.K. BUDGET OPTIONS</TITLE>
<AUTHOR>    By Sten Stovall, Reuters</AUTHOR>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>A mix of electoral boldness and fiscal
caution is expected from Chancellor of the Exchequer Nigel
Lawson next week when he unveils his budget for fiscal 1987/88.
    Exceptionally robust tax revenues have given Lawson very
favourable budget options with which to please voters, industry
and financial markets alike.
    The budget will Lawson's fourth, and probably the last from
the Conservative government before the next general election,
political analysts say.
    Analysts said the major budget question is how Lawson will
balance expected tax cuts with lower public borrowing, and
allow for fresh falls in U.K. Interest rates.
    They said a boost given to the economy by consumer spending
has helped reduce the Public Sector Borrowing Requirement
(PSBR) for financial 1986/87 from an originally targetted 7.1
billion stg, despite big rises in government spending.
    Economists say Lawson may have up to five billion stg to
split between income tax cuts and other electoral "sweeteners,"
higher spending and a drop in borrowing, while still meeting
his earlier 1987/88 PSBR target of 7.0 billion stg.
    The decision facing Lawson is how best to use that
so-called "fiscal adjustement" to maximise the government's
all-round popularity ahead of the next general election.
    Economist Ian Harwood of Warburg Securities said Lawson's
budget must strike a balance between tax cuts aimed at home
consumption and lower public borrowing for attracting support
from overseas investors.
    Peter Fellner of James Capel and Co said "a budget which
concentrates on tax cuts for the consumer will be a budget for
an early election."
    Prime Minister Margaret Thatcher must call a poll before
June, 1988. But anticipation of a summer or autumn 1987 ballot
has risen as the opposition Labour Party has slipped in voter
surveys. Forecasts that the economy may deteriorate later this
year add to arguments for an early poll, analysts say.
    The Conservatives have pledged to cut the basic rate of
taxation in the U.K. From the current 29 pct level to 25 pct.
    While confirming that aim, Prime Minister Margaret Thatcher
last month seemed to dash speculation that that would happen in
the near future. She said in a television interview that it
would happen "Eventually. But I think it will be eventually."
    Most market analysts now expect a two-pence reduction in
the basic rate of taxation and a lowering in of the top rate of
income tax from 60 pct.
    A one billion stg cut in the 1987/88 PSBR - to six billion
stg - is considered the minimum needed for reassuring financial
markets, they add.
    The Treasury's inflow of tax receipts has far surpassed
that previously envisaged, economists say. Lawson as recently
as December 17 said that "I very much doubt whether there will
be much scope for reductions in taxation in next year's budget."
    The Conservative government is eager to get the basic rate
of tax down to 25 pct as soon as possible, since every pound
off the tax base would make the opposition Labour Party's
spending plans look more painful to the electorate, analysts
say.
    The direct revenue effect of a one penny change in the
basic rate of income tax would be about 1.1 billion stg in
1987/88 and 1.45 billion stg in 1988/89, Treasury figures show.
    Lawson's budget speech to Parliament on Tuesday starts at
1530 GMT, and is sure to echo the government's distinct tone of
optimism, analysts say.
     The tax measures which Lawson is expected to announce will
be based firmly on a positive assessment of past economic
achievements and confidence for the future, they add.
    But even if he does cut his planned PSBR for 1987/88 by
between one and 1.5 billion stg, as most economists predict,
Lawson is still likely to find himself announcing a higher PSBR
than the outturn for this financial year.^M
    That could leave him with a presentation problem,
economists say.
    A lower PSBR would raise financial confidence by reassuring
markets that the borrowing burden imposed by the government
would stay low even if certain key aspects of the budget's
arithmetic seem over-optimistic, economists say
    Lawson is slated to reaffirm the government's goals, as set
out in its Medium Term Financial Strategy (MTFS), of reducing
inflation and raising economic growth.
    Regarding monetary targets, some analysts expect him to
drop the wayward broad money aggregate, sterling M-3, while
retaining the tamer M0 narrow measure. Few foresee any other
monetary aggregate being chosen by Lawson for formal targeting.
    Analysts were surprised this week when the government
sanctioned a half percentage point cut in interest rates, in an
attempt to cool down sterling and the gilts market. Analysts
had expected the authorities to wait until after the budget.
    Further declines in bank base lending rates are anticipated
after the budget. Many analysts foresee them falling by as much
as a full percentage point from the current 10.5 pct level.
    The main electoral attraction of reducing interest rates is
to cut mortgage borrowing costs, and thus reduce inflation,
analysts say. Each one percentage point cut in the mortgage
rate reduces retail prices by 0.4 pct, government figures show.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9587" NEWID="4675">
<DATE>13-MAR-1987 05:15:51.05</DATE>
<TOPICS><D>money-fx</D><D>dlr</D><D>yen</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0286&#31;reute
f f BC-Miyazawa-says-current   03-13 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>Miyazawa says current dollar/yen rate not necessarily satisfactory
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9588" NEWID="4676">
<DATE>13-MAR-1987 05:16:38.71</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;f0287&#31;reute
u f BC-JAPAN-TO-WIDEN-PARTIC   03-13 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN TO WIDEN PARTICIPATION IN TELECOM SERVICES</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>Japan agreed in talks with the U.S. To
amend its laws to allow more companies to engage in
international value-added network telecommunications services,
a Post and Telecommunications Ministry official said.
    Such services make communications between otherwise
incompatible computers possible over telecommunications lines.
    The official said firms registering as "Special Type Two
Telecommunications Firms," which are those leasing lines from
common carriers, will be permitted to re-lease the lines to
users and provide international services.
    Steps will also be taken to assure fairness in negotiations
between common carriers and firms seeking to lease lines, the
official said.
    Since December, 10 companies have registered as Special
Type Two firms, including two which have American Telephone and
Telegraph Co &lt;T> or McDonnell Douglas Corp &lt;MD> as major
shareholders, the official said.
    Currently only &lt;Kokusai Denshin Denwa Co Ltd> and &lt;Nippon
Telegraph and Telephone Corp> are allowed to operate
international telecommunications services.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9589" NEWID="4677">
<DATE>13-MAR-1987 05:18:46.79</DATE>
<TOPICS></TOPICS>
<PLACES><D>sweden</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0289&#31;reute
u f BC-NORDBANKEN-POSTPONES   03-13 0121</UNKNOWN>
<TEXT>&#2;
<TITLE>NORDBANKEN POSTPONES PLANNED AUCTION OF FERMENTA SHARES</TITLE>
<DATELINE>    STOCKHOLM, March 13 - </DATELINE><BODY>Sweden's Nordbanken banking group

said it would postpone indefinitely its planned auction on
Monday of 4.2 mln B free shares deposited as loan collateral by
Fermenta's &lt;FRMS ST> founder and former chief executive Reefat
el-Sayed.
    A statement cited Fermenta's financial position as the main
reason for delay. The company's 1986 deficit had earlier been
estimated at 136 mln crowns, but that was revised at an
extraordinary shareholders meeting last Monday to half a
billion crowns. The company said at the meeting a planned new
share issue would not be launched but that another, estimated
to raise 580 mln crowns, was scheduled for April.
    Nordbanken said the auction was the natural result of a
debtor's inability to repay an overdue loan. Although it
expected to buy the shares back itself, it did not exclude
accepting a suitable bid for them.
    Nordbanken loaned 200 mln crowns to Reefat el-Sayed
privately and is Fermenta's largest creditor with loans of l55
mln crowns.
    It was one of the four Swedish banks which last month
agreed to advance Fermenta 110 mln crowns to solve its
immediate liquidity problems.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9590" NEWID="4678">
<DATE>13-MAR-1987 05:21:20.77</DATE>
<TOPICS><D>grain</D><D>rice</D></TOPICS>
<PLACES><D>thailand</D><D>kampuchea</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f0294&#31;reute
u f BC-KAMPUCHEA-SAYS-RICE-C   03-13 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>KAMPUCHEA SAYS RICE CROP IN 1986 INCREASED</TITLE>
<DATELINE>    BANGKOK, March 13 - </DATELINE><BODY>Kampuchea harvested more than two mln
tonnes of rice paddy in 1986, up on the crops of the previous
two years, the official SPK news agency said yesterday.
    Diplomats said estimates put the 1985 harvest at less than
one mln tonnes, slightly up on 800,000 in 1984.
    SPK said Kampuchea planned to expand planting from 1.5 mln
to 1.93 mln hectares and boost rice paddy output to 2.5 mln
tonnes this calendar year.
    Two mln tonnes of paddy would produce some 1.3 mln tonnes
of milled rice, above the 1.25 mln tonnes Kampuchea says is the
minimum its 7.5 mln people need.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9591" NEWID="4679">
<DATE>13-MAR-1987 05:22:31.01</DATE>
<TOPICS><D>cotton</D></TOPICS>
<PLACES><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G C
&#22;&#22;&#1;f0296&#31;reute
r f BC-CHINA-TRYING-TO-INCRE   03-13 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>CHINA TRYING TO INCREASE COTTON OUTPUT, PAPER SAYS</TITLE>
<DATELINE>    PEKING, March 13 - </DATELINE><BODY>China's 1987 cotton output must rise
above the 1986 level of 3.54 mln tonnes or supply will fall
short of increasing demand, the China Daily said.
    Demand in 1986 rose 10.9 pct over 1985.
    Output in 1986 fell from 4.15 mln tonnes in 1985 and a
record 6.2 mln in 1984, official figures show. The China Daily
attributed the decline to several factors, including less
favorable weather conditions and new state measures to restrict
cotton production after the 1984 build-up of stocks.
    According to Customs figures, cotton exports rose to
558,089 tonnes in calendar 1986 from 347,026 in 1985.
    To increase output quickly, the state will raise by 10 pct
the price it pays for cotton produced above and beyond quota
levels, the newspaper said. Its official purchasing agencies
will buy cotton produced in excess of that originally
contracted for, it added.
    The China Daily said all cotton growing areas in south
China should be maintained, and growing in the north should be
concentrated in Hebei, Shandong, Henan and Xinjiang.
    It called for comprehensive planning to coordinate
production of cotton with that of grain, edible oil and other
crops, but gave no more details.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9592" NEWID="4680">
<DATE>13-MAR-1987 05:25:49.87</DATE>
<TOPICS><D>money-fx</D><D>yen</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;f0302&#31;reute
b f BC-MIYAZAWA-SAYS-PRESENT   03-13 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>MIYAZAWA SAYS PRESENT YEN NOT NECESSARILY IDEAL</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>Finance Minister Kiichi Miyazawa told a
parliamentary session the current dollar/yen exchange rate is
not necessarily satisfactory for the Japanese economy.
    Miyazawa said the Paris currency accord among six major
industrial nations last month does not necessarily mean the yen
should stay stable around current levels in the future.
    The Paris agreement was aimed at stopping a further rapid
fluctuation of exchange rates, he said.
    The accord stipulated that current rates reflect
fundamentals of the six nations - Britain, Canada, France,
Japan, the U.S. And West Germany.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9593" NEWID="4681">
<DATE>13-MAR-1987 05:25:59.96</DATE>
<TOPICS><D>veg-oil</D><D>palm-oil</D></TOPICS>
<PLACES><D>india</D><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0303&#31;reute
b f BC-INDIA-TOOK-THREE-CARG   03-13 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>INDIA TOOK THREE CARGOES OF RBD OLEIN AT TENDER</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>The Indian State Trading Corporation
(STC) bought three cargoes of rbd palm olein at its vegetable
oil import tender yesterday, traders said. Late yesterday the
market was reporting it had bought one to two cargoes.
    The business comprised two 6,000 tonne cargoes for March
15/April 15 shipments at 355 dlrs per tonne cif, and 6,000
tonnes for May at 358 dlrs. The first two cargoes were on a
cash basis and the May position was transacted on a 30 pct
counter-trade basis, traders said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9595" NEWID="4682">
<DATE>13-MAR-1987 05:29:56.72</DATE>
<TOPICS><D>money-fx</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;f0307&#31;reute
b f BC-U.K.-MONEY-MARKET-GIV   03-13 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. MONEY MARKET GIVEN 478 MLN STG EARLY HELP</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>The Bank of England said it provided the
market with 478 mln stg of early assistance to help ease a
liquidity shortage it estimated at 1.10 billion stg.
    It made outright purchases of seven mln stg of band one
bank bills at 10-3/8 pct and 30 mln stg of band two bank bills
at 10-5/16 pct.
    In addition, it bought 294 mln stg of paper for resale to
the market on March 30 and 147 mln stg for resale on April 8,
in both cases at an interest rate of 10-7/16 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9596" NEWID="4683">
<DATE>13-MAR-1987 05:36:29.35</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0313&#31;reute
u f BC-METAL-BOX-ISSUES-60-M   03-13 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>METAL BOX ISSUES 60 MLN STG CONVERTIBLE BONDS</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>Metal Box Plc &lt;MBXL.L> is issuing 60 mln
stg of convertible eurobonds due April 28, 2002 with an
indicated coupon of 5-3/4 pct to six pct and priced at par,
Swiss Bank Corp International Ltd said as lead manager. The
conversion premium will be five to 10 pct and the price will be
fixed on or before March 18.
    The bonds will be callable at 106 after five months and
until April 28, 1988 and thereafter at prices declining by one
pct per annum until 1993 but only if the share price is 130 pct
of the conversion price. The bonds will be listed in London and
will be issued in denominations of 1,000 stg.
    Fees for the issue total 2-1/2 pct, comprising 1-1/2 pct
for selling and 1/2 pct each for management and underwriting.
There is a 1/4 pct praecipuum. Pay date is April 28.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9597" NEWID="4684">
<DATE>13-MAR-1987 05:40:09.71</DATE>
<TOPICS></TOPICS>
<PLACES><D>hong-kong</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0324&#31;reute
u f BC-ELDERS-HALVES-NOTE-FA   03-13 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>ELDERS HALVES NOTE FACILITY AMOUNT, AMENDS TERMS</TITLE>
<DATELINE>    HONG KONG, March 13 - </DATELINE><BODY>The proposed note issuance facility
for Elders IXL Ltd has been reduced to 100 mln Australian dlrs
from the original 200 mln dlrs, lead manager Westpac Finance
Asia Ltd said.
    Terms of the facility have also been amended. It will still
be half underwritten and half uncommitted, but the underwriting
margin has been raised to 10 basis points over the Australian
dollar bank bill rate.
    The margin was originally set at 6.25 basis points over
bank bill rate for up to 50 mln dlrs and at 2.5 basis points
for the remaining 50 mln dlrs.
    There is a 10 basis point utilisation fee if the
underwriters are required to pick up more than 67 pct of the
paper issued, and a five basis point fee if they are to pick up
34-67 pct of the paper. No utilisation fee will be charged if
they are to pick up less than 33 pct.
    Underwriting fee is 1/8 pct.
    Under the facility, notes in denominations of 500,000 dlrs
will be issued with maturities ranging from one to six months.
    Syndication deadline has been extended to March 20 from
today to allow banks more time to consider the facility.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9598" NEWID="4685">
<DATE>13-MAR-1987 05:49:46.65</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0338&#31;reute
u f BC-JAPAN-BROKERS-SEEK-10   03-13 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN BROKERS SEEK 10 YEAR GOVERNMENT BOND AUCTION</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>Japanese securities houses have asked the
Finance Ministry again to consider introducing auctions of
10-year government bonds, securities sources said.
    Finance Ministry officials declined comment but said the
Ministry has been aware of growing calls from securities houses
for 10-year bond auctions.
    Japanese securities houses also may allow foreign brokers
to underwrite more 10-year bonds from April. Four U.S. Banks
are expected to receive Finance Ministry approval in late April
to operate securities subsidiaries in Japan as long as they
hold no more than 50 pct of the capital, bankers said.
    These firms are likely to join the syndicate, which will
increase the number of participants in the 10-year government
bond primary market, securities managers said.
    Each of the 17 current foreign securities houses in the
syndicate underwrites 0.07 pct of each issue, they said.
    In order to expand participation by foreigners, the
syndicate must either expand the securities industry's 26 pct
share or introduce auctions to the primary market, they said.
    Local brokers have requested the head of the syndicate, now
Fuji Bank Ltd, to increase their share to 30.7 pct but banks
oppose any cut in their 74 pct share, bankers said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9599" NEWID="4686">
<DATE>13-MAR-1987 05:54:52.56</DATE>
<TOPICS><D>money-supply</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0344&#31;reute
u f BC-JAPAN-PERSONAL-SAVING   03-13 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN PERSONAL SAVINGS SOAR IN 1986</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>Japanese personal savings grew 10.3 pct
in 1986 from 1985 helped by a sharp increase in stock
investments by individuals, the Bank of Japan said.
    Outstanding savings on December 31, 1986 totalled 545,303
billion yen. Funds in investment trusts alone totalled 21,918
billion yen, up 37.4 pct from a year earlier.
    The outstanding balance also included deposits at banks and
post offices, up 7.4 pct to 337,867 billion yen, savings in the
form of insurance, up 18.6 pct to 111,431 billion, corporate
bond investments, up 7.8 pct to 46,867 billion, and investments
in trust banks, up 4.1 pct to 27,220 billion.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9600" NEWID="4687">
<DATE>13-MAR-1987 05:59:01.53</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>zse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0353&#31;reute
u f BC-ALUSUISSE-SHARES-SUSP   03-13 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>ALUSUISSE SHARES SUSPENDED ON CAPITAL CUT NEWS</TITLE>
<DATELINE>    ZURICH, March 13 - </DATELINE><BODY>Trading in shares of Schweizerische
Aluminium AG, Alusuisse, &lt;ALUZ.Z> was suspended on the Zurich
stock exchange after today's announcement by the company that
it would cut its share capital by 50 pct, the bourse said.
    The bourse said trading would resume again on Monday.
    Alusuisse bearer shares closed at 490 francs yesterday,
registered shares at 170 francs and the participation
certificates at 45.50.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9601" NEWID="4688">
<DATE>13-MAR-1987 06:03:43.62</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>new-zealand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0359&#31;reute
b f BC-NEW-ZEALAND-LAUNCHES   03-13 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW ZEALAND LAUNCHES 100 MLN STG EUROBOND</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>New Zealand is launching a 100 mln stg
eurobond due April 9, 1995, priced at 100-1/4 with a 9-5/8 pct
coupon, lead manager Warburg Securities said.
    Fees are 3/8 pct each for management and underwriting and
1-1/4 pct for selling. Payment date is April 9 and listing will
be in London. The bonds will be sold in denominations of 1,000
and 10,000 dlrs.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9602" NEWID="4689">
<DATE>13-MAR-1987 06:04:14.75</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>brazil</D><D>saudi-arabia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0361&#31;reute
u f BC-PETROBRAS-CANCELS-OIL   03-13 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>PETROBRAS CANCELS OIL PURCHASE FROM SAUDI ARABIA</TITLE>
<DATELINE>    RIO DE JANEIRO, March 13 - </DATELINE><BODY>Brazil's state oil company
Petrobras has cancelled a 40 mln dlr crude oil purchase from
Saudi Arabia after the Saudis refused to accept credit
guarantees from the Bank of Brazil and did not disclose
reasons, a Petrobras official said.
    Export director Carlos Santana told reporters the Saudis
were the first suppliers of oil to impose such conditions after
Brazil's decision to halt interest payment of its commercial
debts last month. The shipment of 2.2 mln barrels represents
two days of consumption.
    He said the Saudis reported they would no longer accept
letters of credit from the Bank of Brazil or even from Saudi
banks and that Brazil would have to obtain credit guarantees
from leading international banks.
    In February, Brazil had contracted to buy 125,000 bpd from
the Saudis until June. Saudi Arabia is Brazil's second biggest
oil supplier, with an average 115,000 bpd. Iraq is the main
supplier with 235,000 bpd. China comes third, with 58,000 bpd.
    "If the Saudis wish to stop our trade relationship...I am
sure that if they do, we will be getting dozens of offers from
elsewhere," Santana added.
    Santana said if the Saudis change their minds and decide to
respect the terms of the contract, then Petrobras will lift the
order to cancel the shipment.
    The Saudis had put similar conditions on a previous
shipment, he added. "We telexed them saying that if they
insisted, we would rather cancel the contract and buy the
product elsewhere," Santana said.
    After Petrobras threatened to cancel the contract, the
Saudis changed their minds and decided to accept the Bank of
Brazil's credit guarantees, he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9603" NEWID="4690">
<DATE>13-MAR-1987 06:05:03.48</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0362&#31;reute
u f BC-MANNESMANN-CONSIDERIN   03-13 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>MANNESMANN CONSIDERING MAJORITY STAKE IN FICHTEL</TITLE>
<DATELINE>    DUESSELDORF, March 13 - </DATELINE><BODY>A Mannesmann AG &lt;MMWG.F> spokesman
said the company has lodged an application with the Federal
Cartel Office for approval of a possible majority stake in car
parts company &lt;Fichtel und Sachs AG>.
    He described the application as a precautionary move and
said no agreement on buying a majority stake had yet been
reached. Until now Mannesmann has said only that it wanted to
buy a 37.5 pct stake in Fichtel from the heirs of Ernst Wilhelm
Sachs, the grandson of the firm's founder.
    The spokesman declined to say from whom it may buy the
other shares to create a majority stake in the firm.
    Fichtel's other principal shareholders are Commerzbank AG
&lt;CBKG.F>, with 35.01 pct, and Salzgitter AG &lt;ISLG.F>, with
24.98 pct. Spokesmen declined to comment directly on the
possibility of selling Fichtel shares to Mannesmann.
    Mannesmann said in January it hoped to take a 37.5 pct
stake in Fichtel's holding company Sachs AG in the first
quarter.
    Last week a spokesman said Mannesmann had a letter of
intent on the 37.5 pct stake but completion was being delayed
by legal questions surrounding the inheritance.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9604" NEWID="4691">
<DATE>13-MAR-1987 06:14:34.10</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0375&#31;reute
u f BC-SCHWEIZERHALLE-FIRE-H   03-13 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>SCHWEIZERHALLE FIRE HIT SANDOZ 1986 PROFITS</TITLE>
<DATELINE>    BASLE, Switzerland, March 13 - </DATELINE><BODY>Sandoz AG &lt;SANZ.Z> would
have reported a percentage rise in net profits "close to double
figures" rather than the actual two pct had it not been for
November's warehouse fire, a senior company official said.
    The official, who declined to be identified, told Reuters
Sandoz had made a substantial addition to reserves to cope with
the consequences of the accident at Schweizerhalle, which
caused severe pollution of the Rhine.
    Sandoz today reported without comment a rise in net profits
to 541 mln francs from the previous 529 mln and a five pct
increase in dividend to 105 francs per 250 franc nominal share.
    This year began well, with the performance in January and
February at least equal to the same period last year, the
official said.
    The company is expected to give fuller details of its
results at a news conference on April 22.
    Sandoz has insisted that it is adequately insured to cover
any liability arising from the accident.
    The official said the addition to reserves was to cover the
"one pct" of claims somehow not covered and any voluntary
gestures it wanted to compensate for the effects of pollution
from the fire.
    Sandoz has not given any figure for claims, which have been
flowing in from Switzerland and other countries bordering the
Rhine since the accident.
    However, the official said the final figure would be "much
less than that cited in earlier comments." He gave no further
details.
    In line with fellow chemical giant Ciba-Geigy &lt;CIGZ.Z>,
which reported last month, Sandoz profit and turnover were also
hit by the falling dollar, the official said.
    Sales in local currency terms were up by 14 pct, with
market share increases in the United States and Japan. But this
was more than offset by a 15 pct negative foreign exchange
effect, which produced the reported one pct drop in turnover to
8.36 billion francs,the Sandoz official said.
    Net profit at Ciba-Geigy dropped by 21 pct to 1.16 billion
francs, while sales fell by 12 pct to 15.95 billion francs.
    The third major Swiss chemical company, F. Hoffmann-La
Roche and Co &lt;HOFZ.Z> has not yet reported its results.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9605" NEWID="4692">
<DATE>13-MAR-1987 06:24:01.06</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0385&#31;reute
b f BC-ALUSUISSE-SEES-POSSIB   03-13 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>ALUSUISSE SEES POSSIBLE BREAK-EVEN IN 1987</TITLE>
<DATELINE>    ZURICH, March 13 - </DATELINE><BODY>Schweizerische Aluminimum AG &lt;ALUZ.Z>
(Alusuisse) may be able to break even this year after cleansing
its balance sheet for 1986, chief executive Hans Jucker said.
    "The threshold of profitability has returned to the
foreseeable future," he said. "We expect already in 1987
approximately to break even. That presupposes, however, that
our industrial environment does not worsen."
    He said Alusuisse would no longer face the burden of past
losses.
    Alusuisse made a net loss of 688 mln Swiss francs in 1986
after a restated 756 mln loss in 1985.
    Gross sales were 5.93 billion francs after 8.51 billion and
net turnover 5.65 billion after 8.00 billion.
    Alusuisse had originally reported a 692 mln francs loss for
1985.
    But Jucker and Finance Director Hermann Haerri told a news
conference the new management installed a year ago had decided
to restate the previous five years' accounts to eliminate
rights on Australian bauxite previously in the books as an
asset.
    Together with other one-off charges, Alusuisse took an
gross extraordinary charge in 1986 of 698 mln francs, up from
472 mln in 1985.
    It also had 106 mln extraordinary income in 1986 remaining,
after provisions, from the sale of its Maremont Corp subsidiary
in the United States. There were no extraordinary gains in
1985.
    Jucker said the losses, plus those carried forward from
1985, had wiped out the company's remaining reserves and
exceeded legally allowed levels, forcing Alusuisse to adopt a
50 pct capital cut, to be approved by shareholders on April 22.
    Jucker said he knew shareholders would find this "radical
elimination of the mortgages of the past" painful, but said the
foundation had been laid for a successful new company strategy.
    Haerri said despite the losses, the company's liquidity was
strong. Bank debt had been cut by about one-third to 2.56
billion francs against the end-1985 level of 3.85 billion.
    Cash flow improved substantially to 323 mln francs from 111
mln and represented 5.7 pct of turnover against a mere 1.4 pct
in 1985.
    In addition, to reassure other creditors, Alusuisse had
arranged with three major Swiss banks -- Union Bank of
Switzerland &lt;SBGZ.Z>, Swiss Bank Corp &lt;SBVZ.Z> and Credit
Suisse &lt;CRSZ.Z>, to convert 300 mln francs of credits into a
subordinated loan.
    The main sources of losses in 1986 were book losses and not
cash losses, Haerri said. Existing credit lines were used only
to a small extent, and the parent company had been granted a
new credit line of 200 mln francs from a consortium of Swiss
banks that would cover most of the loans falling due in 1987.
    Haerri said the company had been criticized for maintaining
bauxite rights as an asset, and so had restated the accounts.
    That left the 1985 account with a 756 mln franc loss
instead of 692 mln, 1984 with a 68 mln profit instead of 169
mln, 1983 with a 217 mln loss instead of 82 mln and 1982 with a
479 mln loss instead of 179 mln.
    The new accounts show 1985 with shareholders' equity of
1.15 billion francs instead of 1.75 billion, and similar
alternations were made for previous years.
    After 1986 losses, shareholder's equity stood at only 895
mln francs.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9606" NEWID="4693">
<DATE>13-MAR-1987 06:24:41.86</DATE>
<TOPICS></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0387&#31;reute
b f BC-DUTCH-CHEMICAL-GROUP   03-13 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>DUTCH CHEMICAL GROUP LAUNCHES DUAL CURRENCY BOND</TITLE>
<DATELINE>    AMSTERDAM, March 13 - </DATELINE><BODY>Dutch state-owned chemical group N.V.
DSM is launching a 150 mln guilder dual currency bond with a
7-1/4 pct coupon due 1992 and priced at par, lead manager
Algemene Bank Nederland N.V. Said.
    Interest will be paid in guilders and each 1,000-guilder
bond will be redeemed in 313.00 sterling on April 15, 1992.
    Subscription closes Friday March 20, payment date is April
15, listing will be on the Amsterdam stock exchange.
    Co-leads are Bank Mees en Hope, AMRO Bank and Citicorp
Investment Bank (Netherlands). The management group consists of
RABO, NMB, CLN Oyens en van Eeghen and F van Lanschot Bankiers.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9607" NEWID="4694">
<DATE>13-MAR-1987 06:27:11.86</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0390&#31;reute
u f BC-FRANCE-EXPECTS-TO-SIG   03-13 0106</UNKNOWN>
<TEXT>&#2;
<TITLE> FRANCE EXPECTS TO SIGN DISNEYLAND CONTRACT BY NEXT MONTH</TITLE>
<DATELINE>    PARIS, March 13 - </DATELINE><BODY>The French government and Walt Disney Co
 &lt;DIS.N> expect to sign a contract for Europe's first
Disneyland amusement park before the end of next month, a
senior French official said today.
    The complex, to be built 20 miles east of Paris, will
include a so-called "Magic Kingdom" theme park, outdoor
recreation, shops and hotels.
    Initial investment by Walt Disney and a group of French and
other investors has been put at around eight billion francs for
the project's central theme park.
    A preliminary agreement was reached in December 1985.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9608" NEWID="4695">
<DATE>13-MAR-1987 06:29:58.03</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;f0401&#31;reute
u f BC-JAPAN-CORPORATE-PROFI   03-13 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN CORPORATE PROFITS IN LAST 1986 QUARTER UP</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>Current profits of Japan's major firms in
the October-December quarter rose four pct from a year earlier
to 5,654 billion yen against a 2.6 pct year-on-year rise in the
preceding quarter, the Finance Ministry said.
    The improved earnings resulted mainly from a 22.5 pct
profit increase in non-manufacturing industries, supported by
an 88.7 pct rise for construction firms and a 138 pct gain in
real estate, according to a ministry survey.
    Total sales of the 15,308 firms with capital of 10 mln yen
or more which responded to the poll, fell one pct to 217,217
billion yen against a 1.2 pct fall the previous quarter.
    Current profits of manufacturing industries in the fourth
quarter dropped 13.7 pct to 2,394 billion yen against a 22.1
pct fall in the preceding quarter, the ministry said.
    Plant and equipment investments of all firms polled fell
3.9 pct to 8,004 billion yen, compared with a 1.4 percent fall
the previoius quarter.
    Ministry officials said the survey showed that the Japanese
economy is in a delicate stage in which it is hard to tell if
economic growth has stopped deteriorating or if the economy is
heading for a recovery.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9609" NEWID="4696">
<DATE>13-MAR-1987 06:51:10.66</DATE>
<TOPICS><D>grain</D><D>wheat</D></TOPICS>
<PLACES><D>usa</D><D>sudan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0419&#31;reute
u f BC-U.S.-LENDS-SUDAN-57-M   03-13 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. LENDS SUDAN 57 MLN DLRS FOR WHEAT PURCHASES</TITLE>
<DATELINE>    KHARTOUM, March 13 - </DATELINE><BODY>The U.S. Is to lend Sudan 57 mln dlrs
to buy 309,000 tonnes of wheat and 73,000 tonnes of wheat
flour, according to an agreement signed here.
    Under the agreement Sudan will receive 50 mln dlrs for the
commodities and the rest for sea transportation.
    The loan is repayable in 40 years, including a 10-year
grace period. Interest will be two pct for the grace period and
three pct over the repayment period of 30 years.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9610" NEWID="4697">
<DATE>13-MAR-1987 07:02:37.86</DATE>
<TOPICS><D>alum</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0436&#31;reute
u f BC-ALUSUISSE-PLANS-FURTH   03-13 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>ALUSUISSE PLANS FURTHER ALUMINIUM CAPACITY CUTS</TITLE>
<DATELINE>    ZURICH, March 13 - </DATELINE><BODY>Schweizerische Aluminium AG &lt;ALUZ.Z>
(Alusuisse) plans further drastic cuts in its aluminium
smelting capacity and more concentration of higher value-added
products, chief executive Hans Jucker said.
    Elaborating on plans disclosed in outline last September,
company officials said current smelting capacity of 390,000
tonnes a year would be cut to between 250,000 and 260,000
tonnes by 1989 or 1990. They did not say where cuts might be
made.
    Two years ago, before selling its Ormet Corp subsidiary in
the United States to local management and staff, Alusuisse had
an annual capacity of 800,000 tonnes.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9611" NEWID="4698">
<DATE>13-MAR-1987 07:08:14.10</DATE>
<TOPICS><D>jobs</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E V RM
&#22;&#22;&#1;f0452&#31;reute
f f BC-embargoed-0700edt****   03-13 0016</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CANADA FEBRUARY UNEMPLOYMENT FALLS TO 9.6 PCT FROM JANUARY 9.7 PCT, STATISTICS CANADA SAID
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9612" NEWID="4699">
<DATE>13-MAR-1987 07:08:35.33</DATE>
<TOPICS></TOPICS>
<PLACES><D>singapore</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0455&#31;reute
u f BC-MAJOR-DIVESTMENT-PLAN   03-13 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>MAJOR DIVESTMENT PLANS OUTLINED FOR SINGAPORE</TITLE>
<DATELINE>    SINGAPORE, March 13 - </DATELINE><BODY>The Singapore government should
reduce its stake in major state-owned or run companies like
Singapore Airlines Ltd &lt;AIRH.SI> to around 30 pct over the next
decade and privatise statutory boards, a government report
said.
    The report of the Public Sector Divestment Committee also
recommended flotation of as many government-linked companies
(glcs) as possible, and secondary distribution of state-owned
shares to add breadth and depth to the Singapore stock market.
    The Singapore government owns or backs 608 companies under
three holding companies with total assets in access of 10
billion dlrs, the report said.
    The report said a study of 99 glcs showed that 41 of them
should be privatised, 52 should not be privatised, and six
should be studied further because they have foreign government
participation, serve a "social mission," or are defence-related.
    Of the 41, 15 should seek listing on The Stock Exchange of
Singapore Dealing and Automated Quotation System (SESDAQ),
including shipyards, printing firms and airport service firms.
    The government should privatise a further 17, including
Intraco Ltd (a government trading firm), Chemical Industries
(FE) Ltd, and Acma Electrical Industries Ltd, and reduce its
stake in nine, it added.
    These included Singapore Airlines, SIA, now 63 pct-owned by
the government's Temasek Holdings, The Development Bank of
Singapore &lt;DBSM.SI>, Keppel Corp Ltd &lt;KPLM.SI>, Sembawang
Shipyard Ltd &lt;BAWH.SI> and Neptune Orient Lines Ltd.
    The ceiling on foreign ownership of SIA should be allowed
to rise to 49 pct from the current 20 pct, it said.
    "The committee recommends that Temasek Holdings reduces its
stake (in SIA) in tranches to around 30 pct. The size and
timing of each tranche would depend on the absorptive capacity
of the Singapore stock market," it added.
    Trading in shares of SIA, which has a paid-up capital of
619 mln dlrs, closed here today at 10.60 dlrs.
    The report said the government's 48 pct stake in DBS, one
of Singapore's four major local banks, should be cut to 30 pct
through public offerings or dilution by issuing new shares.
    Among firms which should not be privatised, nine are to be
wound up, it said, including storage and food trading firms.
    The report said seven statutory boards should be considered
for privatisation so as to reduce competition with the private
sector, with a 20 pct ceiling on foreign ownership.
    The seven include the Telecommunications Authority of
Singapore, the Public Utilities Board, the Port of Singapore
Authority, the Civil Aviation Authority of Singapore and the
Singapore Broadcasting Corp.
    The latter is least able to be privatised because of the
sensitivity of its activities, it said.
    "The others can be privatised only after various issues have
been thoroughly debated and adequate safeguards formulated for
post-privatisation control and regulation," it added.
    "The committee recommends that as many government-linked
companies as possible should be privatised," the report said.
    But it added that there should be "a policy of robust
privatisation where initiative is decentralised and order is
maintained through adequate monitoring, control and direction."
    The committee's findings will be subject to final approval
from the Ministry of Finance.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9613" NEWID="4700">
<DATE>13-MAR-1987 07:09:33.12</DATE>
<TOPICS><D>jobs</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E V RM
&#22;&#22;&#1;f0457&#31;reute
b f BC-embargoed-0700edtCANA   03-13 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADA FEBRUARY UNEMPLOYMENT 9.6 PCT</TITLE>
<DATELINE>    OTTAWA, March 13 - </DATELINE><BODY>Canada's February unemployment rate,
seasonally adjusted, fell to 9.6 pct from 9.7 pct in January,
Statistics Canada said. The rate was 9.8 pct in February last
year.
    Seasonally adjusted employment in February was 11,777,000,
compared with 11,747,000 in January, while unemployment slipped
to 1,252,000 from 1,255,000.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9614" NEWID="4701">
<DATE>13-MAR-1987 07:12:50.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0464&#31;reute
f f BC-FRENCH-1986-BUDGET-DE   03-13 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FRENCH 1986 BUDGET DEFICIT CUT TO 141.1 BILLION FRANCS FROM 143.6 BILLION - OFFICIAL
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9615" NEWID="4702">
<DATE>13-MAR-1987 07:13:34.17</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0466&#31;reute
b f BC-GENERALE-OCCIDENTALE   03-13 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERALE OCCIDENTALE SEEKS 100 MLN DLR FACILITY</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>Generale Occidentale, Paris, has
mandated Orion Royal Bank Ltd to arrange a 100 mln dlr
revolving credit facility, Orion said.
    Borrowings under the seven-year facility can be in dollars
or other currencies where available. Drawings will be at 3/8
pct over the London interbank offered rate for one, three or
six months or at 1/8 pct over Royal Bank of Canada's U.S. Prime
rate for periods of one to 30 days.
    There will be a commitment fee of 1/4 pct per annum on the
unutilised available amount and 1/8 pct on the amount
designated as unavailable.
    Proceeds from the facility will be used to refinance an
existing loan facility and provide a flexible source of finance
for general corporate purposes.
    Generale Occidentale, a rare borrower in the international
capital markets, is engaged in food distribution, forestry, oil
production and media activities with interests in Europe and
North America.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9616" NEWID="4703">
<DATE>13-MAR-1987 07:15:13.37</DATE>
<TOPICS><D>money-fx</D><D>yen</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;f0474&#31;reute
u f BC-MIYAZAWA-SAYS-PRESENT   03-13 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>MIYAZAWA SAYS PRESENT YEN NOT NECESSARILY IDEAL</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>Finance Minister Kiichi Miyazawa told a
parliamentary session the current dollar/yen exchange rate is
not necessarily satisfactory for the Japanese economy.
    Miyazawa said the Paris currency accord among six major
industrial nations last month does not necessarily mean the yen
should stay stable around current levels in the future.
    The Paris agreement was aimed at stopping a further rapid
fluctuation of exchange rates, he said.
    The accord stipulated that current rates reflect
fundamentals of the six nations - Britain, Canada, France,
Japan, the U.S. And West Germany.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9617" NEWID="4704">
<DATE>13-MAR-1987 07:16:22.97</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0475&#31;reute
r f BC-CBS-ISSUES-400-MLN-DL   03-13 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>CBS ISSUES 400 MLN DLRS IN CONVERTIBLE DEBT</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>CBS Inc &lt;CBS.N> is issuing 400 mln dlrs
of convertible debt due April 7, 2002, with a coupon of five
pct and priced at par, said Morgan Stanley Ltd as lead manager.
    The securities are convertible into shares of CBS at a
price of 200 dlrs per share, which represents a premium of 26.2
pct over the company's closing stock price yesterday of 158.50
dlrs on the New York Stock Exchange.
    The issue is callable in the first three years only if the
stock prices rises abouve 130 pct of the conversion level.
There is a 1-1/2 pct selling concession and a one pct combined
management and underwriting fee.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9618" NEWID="4705">
<DATE>13-MAR-1987 07:16:37.17</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>nakasone</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0476&#31;reute
h f BC-NAKASONE-REFUSES-TO-D   03-13 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>NAKASONE REFUSES TO DROP SALES TAX</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>Japan's Prime Minister Yasuhiro Nakasone
has refused to drop a proposed sales tax as debate on a draft
budget for 1987 resumed after a nine-day opposition boycott.
    "I have no plan to withdraw the sales tax as I think it is
the best policy (for Japan)," Nakasone told the budget committee
of the lower house of parliament.
    Kyodo News Agency said a small group of members of
Nakasone's ruling Liberal Democratic Party filed a complaint
with their local headquarters calling for his expulsion from
the party on the grounds he broke a campaign pledge by
introducing the sales tax.
    Nakasone admitted the tax was a major factor in an upper
house by-election defeat for his party on Sunday.
    The election was the first national-level poll since
Nakasone presented his plan for overhauling Japan's tax system,
which has remained unaltered for the past 36 years.
    The sales tax and the planned abolition of the tax-free
saving system are designed to offset proposed income and
corporate tax cuts.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9619" NEWID="4706">
<DATE>13-MAR-1987 07:17:16.28</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E A
&#22;&#22;&#1;f0478&#31;reute
r f BC-OKB-ISSUES-100-MLN-CA   03-13 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>OKB ISSUES 100 MLN CANADIAN DLR BOND</TITLE>
<DATELINE>    LONDON, March 12 - </DATELINE><BODY>Oesterreichishce Kontrollbank AG is
issuing a 100 mln Canadian dlr eurobond due March 20, 1997 at
nine pct and priced at 101-7/8 pct, Morgan Guaranty Ltd said as
joint book-runner with LTCB International.
    The bond is available in denominations of 1,000 and 10,000
dlrs and will be listed in Luxembourg.
    Fees comprised 1-1/4 pct selling concession with 3/4 pct
for management and underwriting combined.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9620" NEWID="4707">
<DATE>13-MAR-1987 07:18:48.95</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0480&#31;reute
r f BC-JAPAN-TO-COORDINATE-S   03-13 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN TO COORDINATE STUDY OF SUPERCONDUCTORS</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>Japan will carry out a
government-coordinated study of uses for superconducting
materials, the Ministry of International Trade and Industry
(MITI) said.
    University and industry representatives will start
discussions in April on basic research and possible
applications, Masatoshi Urashima, MITI's director for
development of future basic technology, said.
    Superconductors, which conduct electricity with very low
resistance, could be used in computers, semiconductors and high
speed trains, he said.
    Urashima said recent discoveries of superconductive
materials which do not need extremely low temperatures led to
MITI's decision to coordinate research.
    MITI's electric technology laboratory is currently
researching energy efficiency and superconductive electrical
generation, he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9621" NEWID="4708">
<DATE>13-MAR-1987 07:19:29.26</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0482&#31;reute
h f BC-JAPAN-CABINET-APPROVE   03-13 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN CABINET APPROVES BILL ON GOLD COIN ISSUES</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>The cabinet has approved a bill making it
easier for the government to issue commemorative coins, a
Finance Ministry official said.
    The bill, which must still be approved by parliament, would
take effect in April 1988. It would allow the government to
issue 1,000, 5,000 and 10,000 yen coins without special
legislation, although higher-valued coins would still need a
special law, the official said. At present it can only issue
coins of 500 yen or less.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9622" NEWID="4709">
<DATE>13-MAR-1987 07:20:37.53</DATE>
<TOPICS><D>money-fx</D><D>yen</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>tamura</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0483&#31;reute
r f BC-JAPAN-MINISTER-SAYS-A   03-13 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN MINISTER SAYS ABOUT 170 YEN APPROPRIATE</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>International Trade and Industry Minister
Hajime Tamura told a parliamentary session Japan's small- and
medium-sized enterprises are seriously suffering from the yen's
rise and can only stand levels around 170 yen.
    He also said he still believes a dollar exchange rate level
plus or minus 10 yen from 170 yen would be within levels agreed
upon last month in Paris by six major industrial nations.
Finance ministers of Britain, Canada, France, Japan, the U.S.
And West Germany agreed on February 22 to cooperate in
stabilizing exchange rates around the current levels. The
dollar had closed here at 153.77 yen on February 20.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9623" NEWID="4710">
<DATE>13-MAR-1987 07:22:00.53</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0487&#31;reute
b f BC-FRENCH-1986-BUDGET-DE   03-13 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>FRENCH 1986 BUDGET DEFICIT REVISED DOWN</TITLE>
<DATELINE>    PARIS, March 13 - </DATELINE><BODY>France's 1986 budget deficit has been
revised down to 141.1 billion francs from the estimate at the
end of last year of 143.6 billion, the Finance Ministry said.
    This compares with the 1985 budget deficit of 153.3 billion
francs and the deficit target for this year of 129 billion.
    The ministry said it was the first time since 1980 that the
final budget deficit had been below the initial target.
    The budget deficit corresponded to 2.87 pct of the gross
domestic product (GDP), down from 3.35 pct in 1985.
    This year the government is aiming to cut the budget
deficit to 2.5 pct, reducing it further to two pct in 1988.
    Expenditure totalled 1,228 billion francs last year, up 6.1
pct from 1985, while receipts rose 7.3 pct to 1,076 billion.
    The 1986 budget deficit excludes IMF credits and activities
of the exchange stabilisation fund, but takes account of a four
billion franc payment to the public debt depreciation fund from
income from the privatisation programme.
    The ministry also said that the 1986 expenditure total
included the integration into the general budget of Treasury
loans to the steel industry, which had a neutral impact on the
deficit but boosted the spending figure.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9624" NEWID="4711">
<DATE>13-MAR-1987 07:22:10.34</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0488&#31;reute
d f BC-TWO-BRAZILIAN-SHIPPIN   03-13 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>TWO BRAZILIAN SHIPPING FIRMS SETTLE WITH STRIKERS</TITLE>
<DATELINE>    SAO PAULO, March 12 - </DATELINE><BODY>Two small shipping companies have
reached a pay deal with striking seamen, but union leaders said
most of Brazil's 40,000 seamen were still on strike.
    A union spokesman in Rio de Janeiro said the seamen had
accepted a 120 pct pay offer from the companies, Globo and
Flumar, which have less than 200 employees each.
    The two-week strike comes as Brazil faces a debt crisis and
is delaying exports badly needed to earn foreign exchange.
    Labour Minister Almir Pazzionotto said the government will
not force a settlement of the strike, which was ruled illegal
last Friday.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9625" NEWID="4712">
<DATE>13-MAR-1987 07:23:42.60</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE><D>miyazawa</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0491&#31;reute
r f BC-MIYAZAWA-SAYS-EXCHANG   03-13 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>MIYAZAWA SAYS EXCHANGE RATES WILL STAY STABLE</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>Finance Minister Kiichi Miyazawa told a
press conference he thinks exchange rates will remain stable
due to the currency accord reached in Paris last month by six
major industrialised nations but he did not say for how long.
    The dollar has hovered around 153 yen since the six agreed
to cooperate to bring about currency stability.
    Asked to comment on remarks by some U.S. Officials calling
for a further decline of the dollar, Miyazawa said only the
U.S. President and the U.S. Treasury Secretary can make
official statements about exchange rates.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9626" NEWID="4713">
<DATE>13-MAR-1987 07:25:24.07</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>indonesia</D></PLACES>
<PEOPLE><D>subroto</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0498&#31;reute
u f BC-SUBROTO-SEES-OIL-MARK   03-13 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>SUBROTO SEES OIL MARKET CONTINUING BULLISH</TITLE>
<DATELINE>    JAKARTA, March 13 - </DATELINE><BODY>Indonesian Energy Minister Subroto said
he sees the oil market continuing bullish, with underlying
demand expected to rise later in the year.
    He told a press conference in Jakarta at the end of a
two-day meeting of South-East Asian Energy Ministers that he
saw prices stabilizing around 18 dlrs a barrel.
    "The sentiment in the market is bullish and I think it will
continue that way as demand will go up in the third or fourth
quarters," Subroto said.
    Asked about the prospect for oil prices, he said: "I think
they will stabilise around 18 dlrs, although there is a little
turbulence ..."
    "Of course the spot price will fluctuate, but the official
price will remain at 18 dlrs," he added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9627" NEWID="4714">
<DATE>13-MAR-1987 07:26:29.64</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;f0505&#31;reute
u f BC-OPEC-DEFENDING-18-DLR   03-13 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>OPEC DEFENDING 18 DLR PRICE, SUBROTO SAYS</TITLE>
<DATELINE>    JAKARTA, March 13 - </DATELINE><BODY>Indonesian Energy Minister Subroto said
OPEC is deliberately under its production ceiling of 15.8 mln
barrels to defend its 18 dlr a barrel price target.
    He told reporters at an energy conference in Jakarta that
OPEC had decided to maintain its price level of 18 dlrs.
    "We are deliberately defending the price, so OPEC production
is less than 15.8 (mln) at the moment," he stated.
    Asked if OPEC would increase production if prices went
above 18 dlrs a barrel, he said this would be decided at the
next OPEC meeting in June. "We will discuss the market situation
then," he added.
    He said a meeting of the OPEC Differentials Committee had
been postponed because "there is no need for the meeting."
    He did not elaborate. The committee had originally been due
to meet in Vienna this week.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9628" NEWID="4715">
<DATE>13-MAR-1987 07:30:03.68</DATE>
<TOPICS></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0512&#31;reute
u f BC-AKZO-PHARMA-UNIT-IN-V   03-13 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>AKZO PHARMA UNIT IN VENTURE WITH BIOTECHNOLOGY</TITLE>
<DATELINE>    OSS, Netherlands, March 13 - </DATELINE><BODY>&lt;Organon International BV>, a
subsidiary of the pharmaceutical division of Dutch chemical
group Akzo NV &lt;AKZO.AS>, said it agreed to cooperate in drug
research and development with &lt;California Biotechnology Inc>.
    Organon will receive world clinical development and
marketing rights for any products pioneered under the agreement
with the U.S. Firm, an Organon spokesman said. He gave no
further details.
    The two companies will be looking at drugs to treat
ailments of the nervous system like Alzheimer's disease which
often affects the elderly, he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9629" NEWID="4716">
<DATE>13-MAR-1987 07:30:17.67</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0514&#31;reute
u f BC-NEWS-INTERNATIONAL-BO   03-13 0055</UNKNOWN>
<TEXT>&#2;
<TITLE>NEWS INTERNATIONAL BOND INCREASED TO 150 MLN DLRS</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>A three-year eurobond launched earlier
this week for News International Plc &lt;NWSL.L> has been
increased to 150 mln dlrs from 100 mln due to good demand, lead
manager Credit Suisse First Boston Ltd said.
    The bonds pay 7-1/2 pct and were priced at par.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9630" NEWID="4717">
<DATE>13-MAR-1987 07:30:29.08</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F A
&#22;&#22;&#1;f0515&#31;reute
r f BC-BANK-OF-JAPAN-CALLS-F   03-13 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>BANK OF JAPAN CALLS FOR LONG-TERM EFFORTS ON TRADE</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>The short-term effect of foreign exchange
rate movements in correcting international trade imbalances
appears to be waning, and long-term efforts are required to cut
Japan's chronic dependence on external demand, the Bank of
Japan said in a monthly report.
    Japan's trade surplus in nominal terms is likely to remain
high in the near future, the central bank said.
    Fundamental adjustments will be needed as long as Japan
hopes to benefit from a better international allocation of
resources and maintain the free trade system, it added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9631" NEWID="4718">
<DATE>13-MAR-1987 07:31:44.97</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0518&#31;reute
r f BC-JAPAN-CLARIFIES-FUND   03-13 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN CLARIFIES FUND MANAGEMENT REGULATIONS</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>The Finance Ministry has clarified
regulations governing fund management, satisfying overseas
critics who charged the rules were too tightly-drawn, ministry
officials and Western diplomats said.
    They said "double licensing" has been dropped so a foreign
fund management firm need apply only for a licence for its
Japanese subsidiary and not for the parent company as well.
    A foreign investment management company will be permitted
to employ only one fund manager in Japan, with another on
standby in the home country. Domestic companies must have two.
    In deciding whether a Japanese subsidiary of a foreign firm
is eligible to manage funds in Japan, the ministry will take
account of the amount of funds the parent company has under
management, a ministry official said.
    "This should make it very easy for foreign firms to meet the
criteria for a licence," he said without elaborating.
    He said the ministry expects to grant the first investment
management licences by the end of June. Some 135 firms,
including some 15 foreign companies, will probably be licensed
under the new law passed late last year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9632" NEWID="4719">
<DATE>13-MAR-1987 07:34:10.97</DATE>
<TOPICS><D>rice</D><D>grain</D></TOPICS>
<PLACES><D>burma</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0521&#31;reute
r f BC-BURMESE-PADDY-PRODUCT   03-13 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>BURMESE PADDY PRODUCTION LOWER IN 1986/87</TITLE>
<DATELINE>    RANGOON, March 13 - </DATELINE><BODY>Burma's paddy production fell to 729.4
mln baskets in fiscal year 1986-1987 (to end March) from 737.3
mln in 1985-1986, a cabinet report to parliament said.
    A basket is a local measure equal to 46 lbs.
    Paddy output in 1984-1985 was 699.1 mln baskets, it said.
    Burma's "Green Revolution" sparked by the introduction of
high-yield variety paddy strains in the mid-1970s appears to
have hit a plateau with production levelling off over the past
two years, economists said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9633" NEWID="4720">
<DATE>13-MAR-1987 07:36:10.81</DATE>
<TOPICS><D>money-fx</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;f0523&#31;reute
b f BC-U.K.-MONEY-MARKET-GIV   03-13 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. MONEY MARKET GIVEN FURTHER 168 MLN STG HELP</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>The Bank of England said it provided the
money market with a further 168 mln stg of assistance to help
offset a shortage it now estimated at 1.05 billion stg, revised
down from 1.10 billion.
    It bought 21 mln stg of bank bills outright, 20 mln in band
one at 10-3/8 pct and one mln in band two at 10-5/16 pct. In
addition, it bought 98 mln stg of bills for resale on March 30
and 49 mln stg for resale April 8 at an interest rate of
10-7/16 pct. All these rates are the same as for today's
earlier help.
    So far today, the bank has provided the market with
assistance worth 646 mln stg.
    The bank also announced the rates applicable to temporary
lending facilities rolled over today.
    The average mid-market rate for lending rolled over for one
week is 10-15/16 pct and for two weeks 10-5/8 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9634" NEWID="4721">
<DATE>13-MAR-1987 07:45:01.89</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0538&#31;reute
u f BC-LIBERALS-HOLD-TRURO-I   03-13 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>LIBERALS HOLD TRURO IN U.K. BY-ELECTION</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>The Liberal party easily won the Truro
by-election with almost twice as many votes as its nearest
rival, the Press Association news agency reported.
    The poll in the South-West of England constituency was
called after the death of the previous member of parliament,
also a member of the Liberal party.
    Matthew Taylor raised the Liberal majority by winning
30,599 votes. Conservative Nicholas St Aubyn was second with
15,982 while Labour candidate John King polled 3,603.
    The last by-election, in the London suburb of Greenwich,
was won by the Social Democrat-Liberal alliance.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9635" NEWID="4722">
<DATE>13-MAR-1987 07:54:43.96</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0553&#31;reute
f f BC-AIRBUS-SAYS-IT-HAS-10   03-13 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>AIRBUS SAYS IT HAS 104 COMMITMENTS FROM NINE CUSTOMERS FOR A330/340 PLANE PROGRAM
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9636" NEWID="4723">
<DATE>13-MAR-1987 07:57:12.30</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0555&#31;reute
f f BC-AIRBUS-BOARD-SAYS-IT   03-13 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>AIRBUS BOARD SAYS IT WILL TAKE STEPS FOR FORMAL A330/340 LAUNCH DECISION BY MID-APRIL
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9637" NEWID="4724">
<DATE>13-MAR-1987 08:04:21.28</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0577&#31;reute
u f BC-AIRBUS-FACES-A340-DEC   03-13 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>AIRBUS FACES A340 DECISION AS DEADLINE LOOMS</TITLE>
<AUTHOR>    By Guy Collins, Reuters</AUTHOR>
<DATELINE>    TOULOUSE, FRANCE, March 13 - </DATELINE><BODY>The supervisory board of the
European consortium, &lt;Airbus Industrie>, has begun a critical
meeting to review government funding and airline orders for its
proposed A340 long range jet, Airbus officials here said.
    Airbus insists it needs five airlines to firmly commit
themselves to the plane before going ahead with the project by
the month's end, the deadline for its launch.
    The plane, a four-engined widebodied jet, has so far only
been bought by one airline -- &lt;Lufthansa>, which has placed 15
firm orders and 15 options for the plane.
    But while Air France has said it wants to buy seven of the
aircraft, it has not yet formally placed an order. Discussions
with up to a dozen other airlines have not yet resulted in
public commitments.
    Apart from a shortage of orders, Airbus also is facing an
uphill struggle persuading its member governments to fund the
2.5 billion dlr project, which involves not only the A340 but
its sister A330 aircraft, a twin engined, wide bodied medium
range jet with many identical components.
    The British government remains unconvinced that there will
be sufficient room in the world long range jet market.
    The West German government is also uncommitted, and is
currently pressing for a restructuring of the consortium's West
German company, &lt;Deutsche Airbus GmbH>, while only the French
government appears to be fully behind the program.
    Another major factor delaying a final decision on the plane
has been the engine which will power it. Airbus agreed last
October with &lt;CFM International> that its CFM-56 engine with
28,600 lbs of thrust would power the plane. But in December,
Airbus announced an agreement with CFM rival &lt;International
Aero Engine> (IAE) to power a slightly larger version of the
A340 with a 30,000 lb thrust high-technology superfan engine.
   Airbus has made clear to potential customers that the IAE
engine is now the principle engine for the project.  The
incorporation of the superfan engine made the plane on paper
more attractive to airlines, but the engine has yet to be
developed and CFM International had openly expressed scepticism
that the engine will be ready when the plane goes into service.
    The future of the Airbus consortium depends on the right
decision being made on the A340 in the next few weeks, for it
could find itself severely exposed in the 1990s either by
staying absent from the long range jet market or by committing
itself to a commercially unviable project.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9638" NEWID="4725">
<DATE>13-MAR-1987 08:07:55.86</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0593&#31;reute
b f BC-AIRBUS-HAS-NINE-COMMI   03-13 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>AIRBUS HAS NINE COMMITTED CUSTOMERS FOR A330/340</TITLE>
<DATELINE>    PARIS, March 13 - </DATELINE><BODY>The European Airbus Industrie consortium
has obtained a total of 104 commitments from nine customers for
its planned A340 long-range jet and A330 twin-engined
medium-range jet, the consortium said in a communique here.
    Its supervisory board, meeting in Toulouse, "concluded that
the commercial and industrial objectives ... Have been
fulfilled and that a strong basis for a commercially successful
programme has been established," the communique said.
    But the consortium still has to obtain funding guarantees
from its member governments for the 2.5 billion dlr programme.
    The nine committed customers are well above the five
airlines that the consortium said it needed to launch the plane
project.
    "Therefore the supervisory board has decided to take all
necessary steps for a formal launch decision by mid-April 1987
to ensure first deliveries of the A340 in May 1992, to be
followed by first deliveries of the A330 a year later," it said.
    Airbus is a four-nation consortium grouping Britain,
France, West Germany and Spain.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9639" NEWID="4726">
<DATE>13-MAR-1987 08:08:07.26</DATE>
<TOPICS></TOPICS>
<PLACES><D>iran</D></PLACES>
<PEOPLE><D>reagan</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0594&#31;reute
u f BC-REAGAN-DID-NOT-RECALL   03-13 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>REAGAN DID NOT RECALL APPROVING ARMS DEAL, COUNSEL</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>President Reagan's legal adviser said
the President could not recall when he approved a 1985 arms
sale to Iran, the New York Times reported.
    "We were trying to stimulate his (Reagan's) recollection and
he had no recollection, although he remembered being surprised
about something," Peter Wallison, who is resigning, was quoted
as saying in an interview.
    "That led us to expect that he would not be able to recall
(the date) when he appeared before the Tower board," Wallison
said, referring to the question of whether Reagan gave prior
approval to an Israeli shipment of U.S. Arms to Iran.
    Wallison said John Poindexter, then head of the National
Security Council (NSC), kept him from probing the scandal for
weeks after it was first made public last November, the Times
reported.
    Wallison told the newspaper that Poindexter, who resigned
from his NSC post last November 25, refused to give him
information about the deal, despite pleas by former White House
Chief of Staff Donald Regan.
    "Regan told me on several occasions that he had been unable
to move Poindexter to include me in any of the discussions or
to provide me with ... The facts," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9640" NEWID="4727">
<DATE>13-MAR-1987 08:10:24.53</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>sprinkel</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0602&#31;reute
u f BC-U.S.-OFFICIALS-DISAGR   03-13 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. OFFICIALS DISAGREE ON REDUCING DEFICIT</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>Senior U.S. Economic officials
disagree on the likelihood the government can meet its budget
deficit reduction targets.
    Beryl Sprinkel, chairman of the Council of Economic
Advisers, reiterated the Reagan Administration's opposition to
a tax increase and its pledge to reduce the deficit by cutting
spending and fostering economic growth.
    By contrast, Rudolph Penner, Director of the Congressional
Budget Office, said the budget process has broken down and the
deficit will remain close to 200 billion dlrs for fiscal 1987.
    Sprinkel told a symposium sponsored by New York University
that spending could be cut by avoiding decisions based on the
desire to influence votes and by shifting the responsibility
for local projects to state governments.
    He also suggested a line-item veto, which allows the
President to veto parts of bill without rejecting all of it, to
limit wasteful spending. Spending and taxing decisions should
be linked more closely.
    Sprinkel said the Administration still looks for 2.7 pct
growth in U.S. Real gross national product (GNP) in 1987 and
3.5 pct in 1988.
    Asked if the latest economic reports signal this rate of
economic growth is attainable, Sprinkel said, "It looks pretty
good to me. We've had two very strong employment reports."
    He also said federal reserve policy is appropriate, adding,
"It looks like they're on track."
    While further reductions are needed in the trade deficit,
Sprinkel said the lower dollar is having an impact.
    The new 1987 tax laws will not hurt the economy and the tax
reform act of 1986 significantly lowers tax rates and will
greatly increase private production incentives, he said.
    "Our estimates at the Council of Economic Advisers suggest
national net output of goods and services will permanently
increase by approximately two pct because of the long-run
consequences of tax reform," Sprinkel said. "In 1986, this would
have amounted to an increase of approximately 600 dlrs in the
income of the average American family."
    Sprinkel also argued the 1981 tax cuts were not responsible
for the large increase in the budget deficit.
    In fiscal 1986 ending September, federal spending amounted
to 23.8 pct of GNP, while federal receipts absorbed 18.5 pct of
GNP, leaving a deficit of 5.3 pct, he said.
    Sprinkel said that, compared with fiscal 1978, the 1986
federal expenditure share of GNP is 2.7 percentage points
higher and the revenue share of GNP is virtually the same.
    "Contrary to the conventional wisdom, therefore, the 1981
tax cut is not the root cause of the extraordinary budget
deficits of the past few years," Sprinkel said.
    "This tax cut merely rolled back the inflation-induced tax
increases that occurred between 1978 and 1981," he added.
    However, the Congressional Budget Office's Rudolph Penner
argued that the tax cut in 1981 was misguided.
    "Since making the big mistake in 1981 of cutting taxes
enormously without any plan to decrease spending by the
Administration or Congress, indeed with increases in defence
spending, now all the options (for reducing the budget deficit)
are unpleasant," he said.
    Penner said the tax cut resulted from the ideological
turmoil in the U.S. Caused by the "biggest sustained inflation
in our nation's history," which helped foster widespread
distrust of government.
    "The American people turned on the government with tax
revolt at the state level and new demands on the government at
the national level," Penner said.
    "But their dislike of taxes exceeded their general dislike
of spending programs. Now the correction of that 1981 mistake
demands that the system change a lot."
    Penner sees little hope the Gramm-Rudman-Hollings budget
deficit reduction targets will be met and said the deficit will
remain at roughly 200 billion dlrs this year.
    He said a budget process that sets targets arbitrarily is
not likely to succeed.
    "I feel pretty safe in saying that any process that tries to
dictate a numerical outcome from above is doomed to fail simply
because there's no ... Way to enforce it," Penner said.
    Penner questioned the methods by which the 1987 budget
deficit was cut. He said 18 to 19 billion dlrs were eliminated
by one-time measures, such as a temporary increase in taxes
related to tax reform and sales of government assets.
    "Another four billion dlrs was cut by what I call creative
timing changes, like moving the military payday from the last
day of fiscal 1987 to the first day of fiscal 1988. That saved
more than two billion dlrs," Penner said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9641" NEWID="4728">
<DATE>13-MAR-1987 08:13:40.78</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0622&#31;reute
r f BC-PUGET-SOUND-&lt;PSNB>-SE   03-13 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>PUGET SOUND &lt;PSNB> SETS EXTENDED VISA WARRANTIES</TITLE>
<DATELINE>    TACOMA, Wash., March 13 - </DATELINE><BODY>Puget Sound Bancorp said it is
offering extended warranty service on items purchased in the
U.S. with its Visa Classic or BanClub credit cards.
    It said it believes it is the first bank in the nation to
offer the service in connection with Visa cards.  American
Express Co &lt;AXP> has been offering extended warranties on items
purchased with its credit cards since last fall.
    Puget Sound said the extended warranty service doubles the
manufacturer's warranty at no extra charge, with a limit of one
extra year, excluding motorized vehicles and purchases carrying
more than a five year warranty.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9642" NEWID="4729">
<DATE>13-MAR-1987 08:13:45.90</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;f0623&#31;reute
d f BC-AEP-INDUSTRIES-INC-&lt;A   03-13 0032</UNKNOWN>
<TEXT>&#2;
<TITLE>AEP INDUSTRIES INC &lt;AEPI> 1ST QTR JAN 31 NET</TITLE>
<DATELINE>    MOONACHIE, N.J., March 13 -
    </DATELINE><BODY>Shr 19 cts vs 32 cts
    Net 586,000 vs 802,000
    Sales 14.2 mln vs 15.1 mln
    Avg shrs 3,006,372 vs 2,506,250
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9643" NEWID="4730">
<DATE>13-MAR-1987 08:13:55.85</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;f0624&#31;reute
r f BC-SOCAL-EDISON-&lt;SCE>-UN   03-13 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>SOCAL EDISON &lt;SCE> UNIT BACK IN SERVICE</TITLE>
<DATELINE>    ROSEMEAD, Calif., March 13 - </DATELINE><BODY>Southern California Edison Co
said 1.100 megawatt Unit 3 at its San Onofre Nuclear Generating
Station is back in service after the completion of a scheduled
refueling.
    The unit was taken down January Two.  Other owners include
San Diego Gas and Electric Co &lt;SDO> and the cities of Anaheim
and Riverside, Calif.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9644" NEWID="4731">
<DATE>13-MAR-1987 08:15:16.80</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0631&#31;reute
r f BC-ROM-AMER-&lt;RMA>-IN-RES   03-13 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>ROM-AMER &lt;RMA> IN RESORT JOINT VENTURE</TITLE>
<DATELINE>    LAS VEGAS, March 13 - </DATELINE><BODY>Rom-Amer Pharmaceuticals Ltd said it
has entered into a preliminary agreement with Huck's Landings
Nevada Inc to jointly develop a Las Vegas resort.
    The company said the agreement is contingent on
capitalization of the venture, which is expected to take place
within 30 days and include Rom-Amer stock, and to Rom-Amer
shareholder approval.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9645" NEWID="4732">
<DATE>13-MAR-1987 08:15:23.96</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;f0632&#31;reute
r f BC-D.H.-HOLMES-CO-LTD-&lt;H   03-13 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>D.H. HOLMES CO LTD &lt;HLME> 4TH QTR NET</TITLE>
<DATELINE>    NEW ORLEANS, March 13 -
    </DATELINE><BODY>Shr 39 cts vs 1.34 dlrs
    Net 1,392,000 vs 4,686,000
    Sales 81.9 mln vs 81.7 mln
    Year
    Shr 10 cts vs 97 cts
    Net 355,000 vs 3,375,000
    Sales 270.4 mln vs 272.8 mln
    NOTE: Share adjusted for three pct stock dividend in
January 1987.
    Pretax net profits 3,052,000 dlrs vs 4,498,000 dlrs in
quarter and loss 572,000 dlrs vs profit 2,922,000 dlrs in year.
    Latest year net includes pretax gains of 166,000 dlrs in
quarter and 4,420,000 dlrs in year from pension plan
reversions.
    Prior year net includes gain 1,549,000 dlrs on sale of
property.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9646" NEWID="4733">
<DATE>13-MAR-1987 08:15:43.95</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;f0635&#31;reute
r f BC-FIRST-BOSTON-&lt;FBC>-ST   03-13 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST BOSTON &lt;FBC> STARTS ALLEGHENY &lt;AG> BID</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>First Boston Inc said it has started
its previously-announced tender offer for all common shares,
2.19 dlr cumulative preference shares and 11.25 dlr convertible
preferred shares of Allegheny International Inc at 24.60 dlrs,
20.00 dlrs and 87.50 dlrs respectively.
    In a newspaper advertisement, the company said the offer
and withdrawal rioghts will expire April Nine unless extended.
The offer is conditioned on receipt of at least a majority of
Allegheny voting power on a fully diluted basis and on receipt
of at least two thirds each of the preference and preferred
shares.
    A merger approved by the Allegheny board in which remaining
common, preference and preferred shares would be acquired at
the tender prices is to follow the offer.
    Receipt of the minimum amounts under the offer would give
First Boston sufficient voting power to assure approval of the
merger without the affirmative vote of any other shareholder,
the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9647" NEWID="4734">
<DATE>13-MAR-1987 08:15:57.80</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y E
&#22;&#22;&#1;f0637&#31;reute
d f BC-&lt;WILLOW-RESOURCES-LTD   03-13 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;WILLOW RESOURCES LTD> SAYS DRILLING STARTS</TITLE>
<DATELINE>    TORONTO, March 13 - </DATELINE><BODY>Willow Resources Ltd said drilling of
the Number One Dudley Williams Heirs well in Panola County,
Texas, in which it has a 75 pct working interest, has begin.
    The company said it obtained a 12-month loan of 109,000
dlrs at two points over prime from Altair Investments Inc to
fund its share of the drilling costs.
    It said the well will be drilled to about 6,800 feet and is
likely to yield natural gas and condensate from multiple zones.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9648" NEWID="4735">
<DATE>13-MAR-1987 08:19:47.48</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0643&#31;reute
u f BC-COURT-PUTS-INJUNCTION   03-13 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>COURT PUTS INJUNCTION ON DUTCH PORT REDUNDANCIES</TITLE>
<DATELINE>    ROTTERDAM, March 13 - </DATELINE><BODY>Employers in Rotterdam port's
strike-hit general cargo sector have been served with an
injunction until May 7 preventing them from continuing with
plans for 350 redundancies this year, an employers'
organisation spokesman said.
    An Amsterdam court yesterday ruled there had been a legal
fault in the employers' redundancy procedure.
    The employers' spokesman said they were likely to restart
the redundancy procedure afresh next week in an attempt to
pre-empt the May 7 final court ruling.
    Port and transport union representative Paul Rosenmuller
described the court ruling as a victory for the union, but
added there was still a long way to go before the dispute that
has hit the general cargo sector for the past eight weeks was
resolved.
    Rosenmuller said there would be a meeting of the sector's
4,000 workers this afternoon to decide on further action in the
campaign of lightning strikes that began on January 19 in
protest at planned redundancies of 800, starting with 350 this
year.
    The employers said there were no immediate plans for
meetings with the union either on the proposed redundancies or
on a new work practice agreement in the sector.
    Meanwhile, discussions on a new work agreement in the
port's grain sector, due to resume next week, are stalemated,
although agreement could be close in the coal and ore sector,
the employers' spokesman added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9649" NEWID="4736">
<DATE>13-MAR-1987 08:22:23.61</DATE>
<TOPICS></TOPICS>
<PLACES><D>spain</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T
&#22;&#22;&#1;f0650&#31;reute
u f BC-SPANISH-FARMERS-BLOCK   03-13 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>SPANISH FARMERS BLOCK ROADS IN EC PROTEST</TITLE>
<DATELINE>    MADRID, March 13 - </DATELINE><BODY>Spanish farmers took their tractors to
the roads today and blocked a border crossing with France in a
protest against the Socialist government's EC policies,
officials said.
    Protestors set cars ablaze and cut off traffic in the Rioja
wine growing district, while they blocked roads with tractor
convoys in other northern regions such as Saragossa, where
5,000 farmers joined the demonstrations.
    Farmers blockaded the border crossing with France at La
Junquera near Barcelona, refusing to allow lorries from other
European countries to enter Spain.
    Spanish farmers have been protesting for the past two weeks
to demand a better deal within the Community. The farm protest
came in the wake of demonstrations last night in over 30 cities
in which workers marched for wage rises and against job losses.
    But the turnout, regarded as a dress rehearsal for a
general strike next month, disappointed the communist-led
Workers Commissions union organisers. The ruling Socialist
Party's trade union arm, the General Workers' Union, did not
join in.
    More than 20 strikes are planned for this month and next in
the transport sector, with stoppages at the state-owned Iberia
and Aviaco airlines and RENFE railways.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9650" NEWID="4737">
<DATE>13-MAR-1987 08:22:32.18</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0651&#31;reute
h f BC-USX-&lt;X>-GETS-GEORGE-W   03-13 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>USX &lt;X> GETS GEORGE WASHINGTON BRIDGE WORK</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>The Port Authority of New York and New
Jersey said it has awarded USX Corp a 3,400,000 dlr contract to
replace the expansion joints and gratings on the upper level of
the George Washington Bridge between New York and Fort Lee,
N.J.
    It said most of the joints and gratings have been in place
for over 50 years.  The bridge opened in 1931
    Work on the project should start this spring and be
completed in the fall of 1988, it said.  Work affecting traffic
will be performed on weeknights and at least one lane in each
direction will remain open at all times.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9651" NEWID="4738">
<DATE>13-MAR-1987 08:23:13.84</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T M
&#22;&#22;&#1;f0653&#31;reute
u f BC-LIBERALS-HOLD-TRURO-I   03-13 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>LIBERALS HOLD TRURO IN U.K. BY-ELECTION</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>The Liberal party easily won the Truro
by-election with almost twice as many votes as its nearest
rival, the Press Association news agency reported.
    The poll in the South-West of England constituency was
called after the death of the previous member of parliament,
also a member of the Liberal party.
    Matthew Taylor raised the Liberal majority by winning
30,599 votes. Conservative Nicholas St Aubyn was second with
15,982 while Labour candidate John King polled 3,603.
    The last by-election, in the London suburb of Greenwich,
was won by the Social Democrat-Liberal alliance.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9652" NEWID="4739">
<DATE>13-MAR-1987 08:24:22.13</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>new-zealand</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0655&#31;reute
u f BC-STRIKE-TO-CLOSE-NEW-Z   03-13 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>STRIKE TO CLOSE NEW ZEALAND PORTS ON MONDAY</TITLE>
<DATELINE>    WELLINGTON, March 13 - </DATELINE><BODY>Harbour workers said they will
strike for 24 hours on Monday, effectively closing all New
Zealand's ports.
    The strike is over deadlocked wage negotiations.
    A Harbour Employees Workers' Union spokesman told reporters
there will be no ship movements in and out of ports from
midnight on Sunday (1200 hrs GMT March 15).
    There will be no loading or unloading involving harbour
board workers and the Cook Strait ferries, which provide a
vital link between New Zealand's North and South Islands, will
not run, he added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9653" NEWID="4740">
<DATE>13-MAR-1987 08:25:25.42</DATE>
<TOPICS><D>ship</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;f0656&#31;reute
b f BC-TWO-BRAZILIAN-SHIPPIN   03-13 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>TWO BRAZILIAN SHIPPING FIRMS SETTLE WITH STRIKERS</TITLE>
<DATELINE>    SAO PAULO, March 13 - </DATELINE><BODY>Two small shipping companies reached
a pay deal with striking seamen late yesterday, but union
leaders said most of Brazil's 40,000 seamen were still on
strike.
    A union spokesman in Rio de Janeiro said the seamen had
accepted a 120 pct pay raise offer from the companies, Globo
and Flumar, which have less than 200 employees each.
    The two-week strike comes as Brazil faces a debt crisis and
is delaying exports badly needed to earn foreign exchange.
    Labour Minister Almir Pazzionotto said the government will
not force a settlement of the strike, which was ruled illegal
last Friday.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9654" NEWID="4741">
<DATE>13-MAR-1987 08:27:30.28</DATE>
<TOPICS><D>cpi</D></TOPICS>
<PLACES><D>portugal</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0661&#31;reute
r f BC-PORTUGUESE-FEBRUARY-C   03-13 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>PORTUGUESE FEBRUARY CONSUMER PRICES RISE ONE PCT</TITLE>
<DATELINE>    LISBON, March 13 - </DATELINE><BODY>Portugal's consumer prices rose one pct
last month after a 1.2 pct increase in January and a 1.3 pct
rise in February 1986, the National Statistics Institute said.
    The consumer price index (base 1976) rose to 761.3 from
753.7 in January and compared with 695.4 in February 1986.
    This gave a year-on-year February inflation rate of 9.5 pct
against 9.8 pct in January and 12.6 pct in February 1986.
    Measured as an annual average rate, inflation in February
was 11.1 pct compared with 11.4 pct in January.  The government
forecasts annual average inflation of about eight pct this
year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9655" NEWID="4742">
<DATE>13-MAR-1987 08:27:58.60</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>egypt</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T M
&#22;&#22;&#1;f0663&#31;reute
u f BC-WEATHER-CLOSES-ALEXAN   03-13 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>WEATHER CLOSES ALEXANDRIA PORT, SUMED OIL TERMINAL</TITLE>
<DATELINE>    ALEXANDRIA, Egypt, March 13 - </DATELINE><BODY>Strong winds and high seas
forced the closure of Egypt's main port of Alexandria and a
nearby oil terminal, port officials said.
    Tanker loading at the Suez-Mediterranean Arab Petroleum
Pipelines Co in Sedi Kerir, southwest of here, stopped and
officials said five tankers were at anchorage awaiting improved
weather.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9656" NEWID="4743">
<DATE>13-MAR-1987 08:31:19.87</DATE>
<TOPICS><D>wpi</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0665&#31;reute
f f BC-******U.S.-PRODUCER-P   03-13 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. PRODUCER PRICES ROSE 0.1 PCT IN FEB AFTER 0.6 PCT JAN RISE
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9657" NEWID="4744">
<DATE>13-MAR-1987 08:33:11.98</DATE>
<TOPICS><D>wpi</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0672&#31;reute
b f BC-/U.S.-PRODUCER-PRICES   03-13 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. PRODUCER PRICES RISE 0.1 PCT IN FEBRUARY</TITLE>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>The U.S. Producer Price Index for
finished goods rose 0.1 pct on a seasonally adjusted basis in
February, the Labor Department said.
    The increase came after a 0.6 pct increase in producer
prices in January.
    Higher energy prices were primarily responsible for the
increase in February, though they rose at a slower pace than
they had in January, the department said.
    The finished goods index was up 0.1 pct from its February,
1986 level.
    Before seasonal adjustment, the index for finished goods
stood at 292.3 over its 1967 base of 100.
    Among finished goods, the index for energy products rose
four pct in February after a 9.8 pct increase in January. But
price increases slowed sharply for gasoline and home heating
oil, the department said.
    There were some price declines, including a 3.4 pct fall
for passenger cars and 1.3 pct for light trucks from January
levels. This reflected expanded factory-financed rebates and
discount loan programs, the department said.
    Before seasonal adjustment, the index for finished goods
stood at 292.3 over its 1967 base of 100.
    Among finished goods, the index for energy products rose
four pct in February after a 9.8 pct increase in January. But
price increases slowed sharply for gasoline and home heating
oil, the department said.
    There were some price declines, including a 3.4 pct fall
for passenger cars and 1.3 pct for light trucks from January
levels. This reflected expanded factory-financed rebates and
discount loan programs, the department said.
    The index for consumer foods fell 0.5 pct after a 1.8
pct drop in January as vegetables, pork and coffee cost less.
The index for intermediate goods rose 0.5 pct following a sharp
0.9 pct rise in January.
    The department said that energy prices again were the main
reason, with the index for intermediate energy up 2.7 pct.
    Gasoline and diesel fuel prices were about five pct higher,
half the 10 pct jump recorded in January.
    The durable manufacturing materials index edged down 0.1
pct last month after jumping 1.0 pct in January as prices for
steel, precious metals and copper stabilized.
    The department said lead and zinc prices fell, while
hardwood lumber and cement cost more. The crude materials index
rose 1.8 pct in February after a 2.9 pct rise in January. Crude
energy materials were up 2.6 pct, much less than the 10 pct
rise in January. Crude petroleum prices rose 4.4 pct last month
after a sharp 19.7 pct rise in January.
    Price rises accellerated for logs and timber and tobacco,
but fell for cotton, metal ores and copper and aluminum scrap.
    Among finished goods, gasoline rose 5.5 pct after a 15.7
pct January increase, and fuel oil was up three pct in February
after an 18.0 pct increase in January.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9658" NEWID="4745">
<DATE>13-MAR-1987 08:37:22.76</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;f0693&#31;reute
r f BC-FIRST-FARWEST-CORP-&lt;F   03-13 0075</UNKNOWN>
<TEXT>&#2;
<TITLE>FIRST FARWEST CORP &lt;FFWS> 4TH QTR LOSS</TITLE>
<DATELINE>    PORTLAND, Ore., MArch 13 -
    </DATELINE><BODY>Shr loss 4.22 dlrs vs profit nil
    Net loss 5,568,000 vs profit 11,000
    Revs 42.2 mln vs 37.5 mln
    Year
    Shr loss 3.74 dlrs vs profit 1.02 dlrs
    Net loss 4,898,000 vs profit 1,384,000
    Revs 139.0 mln vs 132.7 mln
    NOTE: 1986 net both periods includes 1,603,000 dlr loss
from discontinued operations due to settlement of lawsuit and
redemption of preferred.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9659" NEWID="4746">
<DATE>13-MAR-1987 08:37:39.81</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0694&#31;reute
r f BC-KODAK-&lt;EK>-TO-PAY-SLI   03-13 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>KODAK &lt;EK> TO PAY SLIGHTLY LOWER WAGE DIVIDEND</TITLE>
<DATELINE>    ROCHESTER, N.Y., March 13 - </DATELINE><BODY>Eastman Kodak Co said today it
is paying a wage dividend of about 236 mln dlrs to about 84,100
U.S. employees, down slightly from 239 mln dlrs last year.
    Kodak pays the wage dividend annually based on an
employee's earnings over the past five years and cash dividend
on Kodak stock.  It said it will pay about 192 mln dlrs in cash
and trhe remainder to the Eastman Kodak Employees' Savings and
Investment Plan, according to employee election.
    Kodak, which has been cutting down its staff, paid its wage
dividend last year to about 85,000 employees.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9660" NEWID="4747">
<DATE>13-MAR-1987 08:37:56.26</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;f0696&#31;reute
d f BC-HEMOTEC-INC-&lt;HEMO>-4T   03-13 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>HEMOTEC INC &lt;HEMO> 4TH QTR NET</TITLE>
<DATELINE>    ENGLEWOOD, Colo., March 13 -
    </DATELINE><BODY>Shr one ct vs two cts
    Net 22,000 vs 58,000
    Sales 951,000 vs 901,000
    Year
    Shr four cts vs 12 cts
    Net 88,000 vs 293,000
    Sales 4,014,000 vs 3,533,000
    NOTE: Net includes tax credits of 46,000 dlrs vs 84,000
dlrs in quarter and credit 19,000 dlrs vs provision 37,000 dlrs
in year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9661" NEWID="4748">
<DATE>13-MAR-1987 08:38:08.82</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;f0697&#31;reute
r f BC-SERVICE-CONTROL-BIDS   03-13 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>SERVICE CONTROL BIDS FOR AMERICAN SERVICE</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>&lt;Service Control Corp> said it has
started a tender offer for all shares of &lt;American Service
Corp> at 37 dlrs each.
    In a newspaper advertisement, the company said the offer
and withdrawal rights expire April Nine unless extended.  The
American Service board has approved the offer, which is to be
followed by a merger at the same price.
    Service Control said the offer is conditioned on receipt of
at least 534,806 shares.  It said holders of 534,819 shares
have agreed to tender their shares under the offer and have
granted Service Control an option to buy them at 37 dlrs each.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9662" NEWID="4749">
<DATE>13-MAR-1987 08:39:57.15</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0699&#31;reute
d f BC-NEW-CENTURY-&lt;NUCP>-ES   03-13 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW CENTURY &lt;NUCP> ESTIMATES REVENUES FROM FILMS</TITLE>
<DATELINE>    LOS ANGELES, March 13 - </DATELINE><BODY>New Century Entertainment Corp said
it expects to realize about 7,500,000 dlrs in foreign
guarantees and advances on New Century films being distributed
overseas during the remainder of 1987 by Lorimar-Telepictures
Corp &lt;LT>.
    The company said together with 10 mln dlrs in advances
Lorimar has received for domestic home video rights, guarantees
will have exceeded 80 pct of the costs of the films.
    New Century retains other domestic distribution rights to
the films.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9663" NEWID="4750">
<DATE>13-MAR-1987 08:45:56.04</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0715&#31;reute
d f BC-BALLY-&lt;BLY>-UNIT-RECO   03-13 0136</UNKNOWN>
<TEXT>&#2;
<TITLE>BALLY &lt;BLY> UNIT RECOMMENDED FOR CONTEMPT CHARGE</TITLE>
<DATELINE>    ATLANTA, March 13 - </DATELINE><BODY>&lt;Dittler Brothers> said a
court-appointed auditor has recommended that Bally
Manufacturing Corp's Scientific Games Inc subsidiary should be
held in contempt of the Fulton County Superior Court in Georgia
as a result of alleged violation of a court order.
    It said the auditor has also recommended that Scientific
Games by fined the maximum amount permissible in Georgia for
allegedly violating the order.
    Dittler is a lottery ticket printer that has been involed
in extensive litigation with competitor Scientific Games.  The
contempt recommendation involves Scientific;s bidding for a
contract to print Pennsylvania lottery tickets and allegedly
printing the tickets without authorization by the court, as
required by previous court orders.
    Dittler said it will pursue allegations of fraud against
Scientific and will also ask the Pennsylvania attorney general
to investigate a potential violation by Scientific of a
Pennsylvania statute prohibiting false written statements to
public officials that carries a maximum penalty of two years in
jail.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9664" NEWID="4751">
<DATE>13-MAR-1987 08:47:30.89</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;f0721&#31;reute
u f BC-DREYER'S-GRAND-&lt;DRYR>   03-13 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>DREYER'S GRAND &lt;DRYR> RESTATES 4RTH QUARTER LOSS</TITLE>
<DATELINE>    OAKLAND, Calif., March 13 - </DATELINE><BODY>Dreyer's Grand Ice Cream said
it has restated its previously-reported fourth quarter loss to
904,000 dlrs or 13 cts per share because it has now decided to
take a charge of about 700,000 dlrs to provide for losses of
Midwest Distributing Co, which was acquired December 30.
    Dreyer's said the restatement reduces net income for the
full year to 5,914,000 dlrs or 80 cts per share.
    The company said the restatement does not indicate any
change in its thinking on the benefits of the acquisition or
future prospects in Midwest Distributing's markets.
    Dreyer's Grand previously reported 1986 earnings of
6,614,000 dlrs or 90 cts per share, down from 7,960,000 dlrs or
1.08 dlrs a share.  For the first nine months of the year, it
had earned 6,818,000 dlrs or 92 cts per share, up from
6,354,000 dlrs or 86 cts a share a year before.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9665" NEWID="4752">
<DATE>13-MAR-1987 08:48:55.18</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>iran</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0726&#31;reute
u f BC-U.S.-JUDGE-DISMISSES   03-13 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. JUDGE DISMISSES SUIT CHALLENGING IRAN PROBE</TITLE>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>A U.S. Judge dismissed a lawsuit by
fired White House aide Oliver North seeking to halt a special
prosecutor's investigation into the Iran arms scandal.
    In a 21-page ruling, Judge Barrington Parker threw out
North's suit challenging the constitutionality of the law
empowering special prosecutor Lawrence Walsh to investigate
secret White House arms sales to Iran and the diversion of
profits to contra rebels in Nicaragua.
    "The nation demands an expeditious and complete disclosure
of our government's involvement in the Iran-contra affair,"
Parker said in his ruling.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9666" NEWID="4753">
<DATE>13-MAR-1987 08:50:42.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0733&#31;reute
r f BC-HERITAGE-&lt;HHH>-SAYS-M   03-13 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>HERITAGE &lt;HHH> SAYS MOST WARRANTS EXERCISED</TITLE>
<DATELINE>    LOS ANGELES, March 13 - </DATELINE><BODY>Heritage Entertainment Inc said
419,867 of its 745,976 warrants were exercised at the reduced
price of 3.75 dlrs a share under an offer that expired March
12.
    The company said the exercise price will now be 4.50 dlrs a
share though the end of 1987 and five dlrs for 1988.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9667" NEWID="4754">
<DATE>13-MAR-1987 08:51:40.95</DATE>
<TOPICS></TOPICS>
<PLACES><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0735&#31;reute
d f BC-JAPAN-BROKERS-SEEK-10   03-13 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>JAPAN BROKERS SEEK 10 YEAR GOVERNMENT BOND AUCTION</TITLE>
<DATELINE>    TOKYO, March 13 - </DATELINE><BODY>Japanese securities houses have asked the
Finance Ministry again to consider introducing auctions of
10-year government bonds, securities sources said.
    Finance Ministry officials declined comment but said the
Ministry has been aware of growing calls from securities houses
for 10-year bond auctions.
    Japanese securities houses also may allow foreign brokers
to underwrite more 10-year bonds from April. Four U.S. Banks
are expected to receive Finance Ministry approval in late April
to operate securities subsidiaries in Japan as long as they
hold no more than 50 pct of the capital, bankers said.
    These firms are likely to join the syndicate, which will
increase the number of participants in the 10-year government
bond primary market, securities managers said.
    Each of the 17 current foreign securities houses in the
syndicate underwrites 0.07 pct of each issue, they said.
    In order to expand participation by foreigners, the
syndicate must either expand the securities industry's 26 pct
share or introduce auctions to the primary market, they said.
    Local brokers have requested the head of the syndicate, now
Fuji Bank Ltd, to increase their share to 30.7 pct but banks
oppose any cut in their 74 pct share, bankers said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9668" NEWID="4755">
<DATE>13-MAR-1987 08:56:36.24</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;f0742&#31;reute
r f BC-turbo   03-13 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;TURBO RESOURCES LTD> YEAR NET</TITLE>
<DATELINE>    CALGARY, Alberta, March 13 -
    </DATELINE><BODY>Oper shr nine cts vs three cts
    Oper shr diluted eight cts vs three cts
    Oper net 15 mln vs five mln
    Revs 518 mln vs 622 mln
    NOTE: Oper net excludes extraordinary income of seven mln
dlrs vs four mln on tax loss carryforward, offset by writedowns
of three mln dlrs vs eight mln on U.S. oil and gas properties
and other assets.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9669" NEWID="4756">
<DATE>13-MAR-1987 08:57:08.46</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0744&#31;reute
d f BC-VW-HAS-NO-COMMENT-ON   03-13 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>VW HAS NO COMMENT ON SEAT LOSS REPORTS</TITLE>
<DATELINE>    WOLFSBURG, West Germany, March 13 - </DATELINE><BODY>A Volkswagen AG
&lt;VOWG.F> spokesman said the group had no immediate comment on
reports of greater than expected losses at its Spanish
subsidiary Sociedad Espanola de Automoviles de Turismo (SEAT).
    German newspapers reported that Werner Schmidt, SEAT
supervisory board chairman, had told journalists that SEAT
losses for 1986 were around 27 billion pesetas, or about 386
mln marks, almost double original expectations.
    According to the Boersen-Zeitung newspaper, Schmidt said VW
would invest 42 billion pesetas in SEAT this year and in the
years to 1995 would spend 462 billion on its new Spanish unit.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9670" NEWID="4757">
<DATE>13-MAR-1987 09:02:12.93</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>cme</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f0747&#31;reute
f f BC-******CME-SETS-BROAD   03-13 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CME SETS BROAD TRADING REFORMS FOR STOCK FUTURES, PARTIAL BAN ON DUAL TRADING
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9671" NEWID="4758">
<DATE>13-MAR-1987 09:03:04.60</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0749&#31;reute
f f BC-******BENEFICIAL-CORP   03-13 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BENEFICIAL CORP TO SELL WESTERN NATIONAL LIFE FOR 275 MLN DLRS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9672" NEWID="4759">
<DATE>13-MAR-1987 09:03:16.15</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0750&#31;reute
f f BC-******GENERAL-MILLS-I   03-13 0008</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>GENERAL MILLS INC 3RD QTR SHR 64 CTS VS 52 CTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9673" NEWID="4760">
<DATE>13-MAR-1987 09:03:30.26</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;f0751&#31;reute
b f BC-VW-DISMISSES-HEAD-OF   03-13 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>VW DISMISSES HEAD OF ITS FOREIGN EXCHANGE DEPT</TITLE>
<DATELINE>    WOLFSBURG, March 13 - </DATELINE><BODY>Volkswagen AG &lt;VOWG.F> said it has
dismissed the head of its foreign exchange department and
suspended several other staff members following the recent
emergence of a possible currency fraud at the company.
    A VW statement said foreign exchange department chief
Burkhard Junger had been dismissed with immediate effect.
    It said it has also suspended Guenther Borchert, head of
the financial transfer department, and Siegfried Mueller, head
of the central cash and currency clearing department. Four
other members of the foreign exchange staff were also
suspended.
    VW said the possibly fraudulent foreign currency
transactions, which could cost the company 480 mln marks, fell
directly within the area of responsibility of Borchert and
Mueller.
    VW said Adalbert Sedlmair, formerly finance director at
VW's former office equipment subsidiary Triumph-Adler AG, would
temporarily take over responsibility of the financial transfer
department during Borchert's suspension from duties.
    Meanwhile, the state prosecutor's office in Brunswick,
which is looking into the currency transactions, said the
Federal Criminal Office in Wiesbaden had also joined the
investigation and would be responsible for measures such as
possible police searches.
    A spokeswoman for the office said prosecutors in Frankfurt
were looking into the possibility of taking over the VW case
but added a final decision would be taken next week.
    The short VW statement said, "Burkhard Junger, 39, who had
already been suspended from his duties in January, has been
dismissed with immediate effect."
    Company sources said Borchert and Mueller were not thought
to have been directly involved with the currency transactions
but they may have been lax in their supervision.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9674" NEWID="4761">
<DATE>13-MAR-1987 09:03:37.02</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0752&#31;reute
f f BC-******CAESARS-WORLD-I   03-13 0010</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CAESARS WORLD INC SAID BOARD REJECTS MARTIN SOSNOFF TENDER
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9675" NEWID="4762">
<DATE>13-MAR-1987 09:04:03.49</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>cme</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM V
&#22;&#22;&#1;f0753&#31;reute
f f BC-******CME-SETS-BROAD   03-13 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CME SETS BROAD TRADING REFORMS FOR STOCK FUTURES, PARTIAL BAN ON DUAL TRADING
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9676" NEWID="4763">
<DATE>13-MAR-1987 09:04:09.69</DATE>
<TOPICS><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;f0754&#31;reute
f f BC-Top-discount-rate-at   03-13 0010</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE> Top discount rate at U.K. Bill tender falls to 9.3657 pct
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9677" NEWID="4764">
<DATE>13-MAR-1987 09:05:32.23</DATE>
<TOPICS></TOPICS>
<PLACES><D>brazil</D><D>philippines</D><D>mexico</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f0757&#31;reute
u f BC-U.S.-URGES-BANKS-TO-D   03-13 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. URGES BANKS TO DEVELOP NEW 3RD WLD FINANCE</TITLE>
<AUTHOR>    By Peter Torday</AUTHOR>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>The United States this week signaled
it is pressing commercial banks, increasingly disenchanted with
providing large cash loans to debtor nations, to develop new
ways of financing that will prove more acceptable to both
sides.
    Heading off challenges to its Third World debt strategy,
U.S. officials also say they think concessions should be made
to debtors that enact reforms speeding inflation-free growth.
    In particular, they stress new techniques that shift the
emphasis from debt to equity and shave interest rates.
    "The strategy is sufficiently broad as an initiative or
concept that there can be additional emphasis such as in
debt-equity swaps and that sort of thing," a Reagan
administration official said of the slow pace of commercial
bank lending to the Third World.
    "The debtors have been performing well...some people argue
that taking 1-1/8 pct down to 13/16 pct is debt forgiveness.
Well if that's what it is, fine. What it really is a narrowing
of the spread that could be charged on new money," the official
said.
    This week, therefore, U.S. officials signaled their backing
for a novel proposal by the Philippines that called for partial
payment of interest in tradeable investment notes.
    On Tuesday, officials said Treasury Secretary James Baker
told Secretary of State George Shultz the idea was a creative
one and signaled his approval to Philippine Finance Minister
Jamie Ongpin later that day. An administration official told
Reuters this week the Philippines' proposal to partially pay
interest with investment notes instead of cash should be
considered seriously by the banks. An agreement with the banks,
officials now say, is expected soon.
    "New bank lending has been slow in materializing but the
fact of the matter is there have been 70 billion dlrs in bank
loans restructured, which is a form of extension of credit. As
you know, there's been 8.5 billion dlrs in new money," said the
official, who plays a key role in keeping the plan afloat.
    The plan was launched in October 1985 by Secretary Baker
and called on commercial and multilateral banks to lend 29
billion dlrs in the subsequent three years to major debtors
undertaking reforms that promoting economic growth.
    But it has taken almost six months to complete the
syndication of a 7.5 billion dlrs loan to Mexico, which has
created deep misgivings here about the liklihood of such large
straight cash loans being assembled ever again.
    U.S. officials want the banks not only to consider swapping
their debts for equity in local corporations -- a development
that has already met with success in Chile and Mexico -- but to
pin loans on specific projects, finance trade and invest
directly in debtor country private sectors.
    These forms of lending, they say, give the banks a greater
stake and more economically secure return on investment.
    In a major challenge to the U.S. plan, Brazil last month
declared a moratorium on interest payments and followed it up
with a world tour by officials seeking a political way out of
its 109 billion dlr debt burden.
    The country is beset by a falling trade surplus and
dwindling reserves endangering its ability to service its
foreeign debt, at 109 billion dlrs the Third World's largest.
    One official attending the Washington talks with Brazilian
Finance Minister Dilson Funaro said "they've come in here now
and said "Look, we're out of money, help us," but they haven't
come in with a plan. And they've gone all over the world, and
at every stop they've been told the same thing."
    The official said Brazil would have to enact a credible
economic program, either in consultation with the World Bank or
the International Monetary Fund, to cool its overheated economy
before commercial banks would begin negotiations.
    As a result of the Brazilian action, private banks and
major debtor nations redoubled their efforts to reach
agreements stretching out debt repayments.
    For its part, the administration has signaled its strong
support for new techniques that in some cases effectively
amount to interest rate concessions for major debtor nations.
    It pressed the banks to allow Chile to make annual instead
of bi-annual interest payments, speeding an accord.
    Administration officials, who asked not to be named, have
also debated whether to allow banks greater flexibility in
building up loan loss reserves against Third World loans.
    The debate centers on a rule, known as FASB-15, under which
banks experiencing delayed interest payments on real estate
loans need not set aside reserves against debt principal if it
is believed payments will resume.
    More recently, the rule was extended to cover farm and
energy loans and Senator Bill Bradley, a New Jersey Democrat,
has suggested it should be extended to Third World loans.
    Bradley is prominent among Congressmen urging that
provisions for debt relief be attached to tough new trade
legislation now being considered on Capitol Hill.
    But the officials said the debate has been inconclusive.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9678" NEWID="4765">
<DATE>13-MAR-1987 09:06:27.37</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;f0761&#31;reute
r f BC-mdimobile   03-13 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;MDI MOBILE DATA INTERNATIONAL INC> YEAR NET</TITLE>
<DATELINE>    VANCOUVER, British Columbia, March 13 -
    </DATELINE><BODY>Oper shr 63 cts vs 47 cts
    Oper shr diluted 56 cts vs 38 cts
    Oper net 3,284,955 vs 2,176,925
    Revs 31.6 mln vs 23.0 mln
    NOTE: Current oper net excludes writedown of 344,039 dlrs,
or seven cts a share, on unidentified investment.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9679" NEWID="4766">
<DATE>13-MAR-1987 09:07:43.08</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0767&#31;reute
r f BC-APPLIED-BIOSYSTEMS-&lt;A   03-13 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>APPLIED BIOSYSTEMS &lt;ABIO> LOWERS SALES FORECAST</TITLE>
<DATELINE>    FOSTER CITY, Calif., March 13 - </DATELINE><BODY>Applied Biosystems Inc said
it has lowered its internal product sales forecast following a
review of market conditions in Europe.
    The company also said Chairman Sam Eletr has resigned for
personal reasons.
    The company said it now expects third quarter, ending March
31, sales to approximate the second quarter's 21.1 mln dlrs and
third quarter earnings to be less than the second quarter's 2.7
mln dlrs, or 20 cts a share, due to unexpected European
softness and previously announced new product delays.
    Applied Biosystems earned 2,654,000 dlrs, or 20 cts a
share, in 1986's third quarter on sales of 13.4 mln dlrs.
    Explaining European orders have not materialized at the
rate expectd, the company added "we believe that the slowness
in orders reflects current conditions in the market for
research instrumentation in Europe."
    It said sales in the current quarter are also being
affected by the previously announced delay in completion of the
software for the Model 900A Data Analysis Module. The
unavialability of that product also impacts sales of the
associated model 420A Derivatizer system.
    Applied Biosystems said it presently expects this software
will be completed during the fourth quarter, but the resulting
lack of demonstration units in the field may postpone some
sales.
    Due to the delays and European uncertainties, "we must now
view the coming quarters with caution," it said, adding "some
earnings pressure is anticipated during the remainder of this
fiscal year."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9680" NEWID="4767">
<DATE>13-MAR-1987 09:13:59.50</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0788&#31;reute
b f BC-ECSC-ISSUES-100-MLN-S   03-13 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>ECSC ISSUES 100 MLN STG EUROBOND DUE 1992</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>The European Coal and Steel Community is
issuing a 100 mln stg eurobond due April 6, 1992 paying 9-3/8
pct and priced at 101-5/8 pct, lead manager Warburg Securities
said.
    The bond is available in denominations of 1,000 and 10,000
stg and will be listed in Luxembourg.
    Fees comprise 1-1/4 pct selling concession and 5/8 pct for
management and underwriting.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9681" NEWID="4768">
<DATE>13-MAR-1987 09:14:42.48</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;f0789&#31;reute
b f BC-UK-MONEY-MARKET-DEFIC   03-13 0038</UNKNOWN>
<TEXT>&#2;
<TITLE>UK MONEY MARKET DEFICIT REVISED TO ONE BILLION STG</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>The Bank of England said it has revised
its estimate of today's shortfall to one billion stg, before
taking account of 646 mln stg morning assistance.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9682" NEWID="4769">
<DATE>13-MAR-1987 09:15:42.58</DATE>
<TOPICS><D>nickel</D></TOPICS>
<PLACES><D>finland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f0790&#31;reute
r f BC-OUTOKUMPU-TO-CLOSE-NI   03-13 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>OUTOKUMPU TO CLOSE NICKEL REFINERY DURING SUMMER</TITLE>
<DATELINE>    HELSINKI, March 13 - </DATELINE><BODY>The Finnish metal and mining group
Outokumpu Oy said it will close its nickel refinery at
Harjavalta in central Finland for six weeks in July and August
this year due to current low prices on the nickel market.
    "We consider nickel prices as bad at the moment, although
they have been rising slightly since January," refinery sales
manager Pekka Purra said.
    He said the closure will mean a drop in production of 3,000
tonnes in 1987 from last year's output of 17,800 tonnes. The
closure was also a move to cut labour costs as no extra staff
have to be employed during holidays to keep the plant open.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9683" NEWID="4770">
<DATE>13-MAR-1987 09:16:07.14</DATE>
<TOPICS><D>ipi</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0793&#31;reute
f f BC-******U.S.-FEB-INDUST   03-13 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. FEB INDUSTRIAL PRODUCTION ROSE 0.5 PCT AFTER REVISED 0.1 PCT JAN GAIN
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9684" NEWID="4771">
<DATE>13-MAR-1987 09:17:08.94</DATE>
<TOPICS><D>ipi</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0798&#31;reute
b f BC-/U.S.-FEB-INDUSTRIAL   03-13 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. FEB INDUSTRIAL PRODUCTION ROSE 0.5 PCT</TITLE>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>U.S. industrial production rose 0.5
pct in February after a revised 0.1 pct increase in January,
the Federal Reserve Board said.
    The Fed previously said industrial production rose 0.4 pct
in January.
    The Fed said the February gain was dominated by a sharp
rise in motor vehicle production, which boosted output of both
consumer goods and business equipment. Industrial production
stood at 127.3 pct of the 1977 average in February and was up
1.7 pct from a year ago, the Fed said.
    The Fed also revised the December industrial production
figure to a gain of 0.5 pct from 0.3 pct originally reported.
    Manufacturing output rose 0.5 pct in February after a 0.1
pct increase in January and included gains of 0.8 pct in
durables and 0.1 pct in non-durables, the Fed said.
    Manufacturing was 2.4 pct above the year ago level.
    Production of auto assemblies rose to an annual rate of 8.3
mln units last month from a January rate of 7.5 mln units.
    Output of consumer goods rose 0.6 pct after falling 0.3 pct
in January and output of consumer durables was up 2.1 pct in
February after falling by 2.0 pct in January.
    Business equipment production rose 1.0 pct in February,
reflecting more output of autos and trucks for business use and
a recovery from strikes in farm equipment industries, the Fed
said.
    Mining output rose 0.1 pct after a 1.6 pct increase in
January, but was still six pct lower than a year ago.
    Utilities output rose 0.7 pct in February after a 1.2 pct
rise in January.
    Output of defense and space equipment was up 0.4 pct, the
same as in January, and 6.2 pct higher than a year ago.
    Output of construction supplies rose 0.2 pct in February
after a 1.5 pct January rise.
    Materials output increased by 0.2 pct last month, the
fourth consecutive monthly increase after declining throughout
much of 1986. The recent strength in materials has been
concentrated in textiles, paper and chemicals, the Fed said.
    Output of home goods was up 0.3 pct in February and the Fed
said production of items like appliances and furniture
continued strong last month.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9685" NEWID="4772">
<DATE>13-MAR-1987 09:17:28.58</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
b f BC-/CAESARS-WORLD-&lt;CAW>   03-13 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>CAESARS WORLD &lt;CAW> REJECTS SOSNOFF'S OFFER</TITLE>
<DATELINE>    LOS ANGELES, March 13 - </DATELINE><BODY>Caesars World Inc said its board
unanimously rejected a 28 dlr a share takeover offer by New
York investor Martin T. Sosnoff.
    Caesars said Sosnoff's offer to by all its outstanding
shares of common stock was inadequate and not in the best
interests of its shareholders.
    The company recommended that shareholders reject Sosnoff's
offer, made through his &lt;MTS Acquisition Corp>, and not tender
any of their shares.
    Caesars said it will explore a variety of alternative
transactions but did not elaborate.
    Caesars, in a brief statement, did not say whether it would
seek to buy back its shares held by Sosnoff.
    A Caesars spokesman said the company would not comment
further on its decision.
    On Wednesday, Sosnoff told the Securities and Exchange
Commission that he controls 13.6 pct of the company's stock.
    Sosnoff also informed the SEC that Caesars had offered to
buyout his holdings several times during the past year.
    No one from the Sosnoff organization was immediately
available for comment.
    Caesars said its financial advisor, Drexel Burnham Lambert
Inc, had determined that Sosnoff's offer was financially
inadequate for shareholders other than Sosnoff.
    The company said other factors it considered in rejecting
the offer were its financial condition, future prospects,
current market conditions and the numerous conditions on which
Sosnoff's bid was conditioned.
    Caesars' stock opened up 1/8 point at 28-1/8. That is 1/8
point above Sosnoff's offer price.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9686" NEWID="4773">
<DATE>13-MAR-1987 09:18:12.84</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>sweden</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0802&#31;reute
d f BC-ESSELTE-AB-&lt;ESB.ST>-1   03-13 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>ESSELTE AB &lt;ESB.ST> 1986 RESULTS</TITLE>
<DATELINE>    STOCKHOLM, March 13 - </DATELINE><BODY>Group profit after net interest items
742 mln crowns vs 741 mln.
    Sales 11.25 billion crowns vs 10.22 billion.
    Estimated profit per share 10 crowns vs 9.20.
    Proposed dividend four crowns vs 3.38.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9687" NEWID="4774">
<DATE>13-MAR-1987 09:18:52.18</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;f0806&#31;reute
u f BC-CONSECO-&lt;CNC>-TO-BUY   03-13 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>CONSECO &lt;CNC> TO BUY BENEFICIAL &lt;BNL> UNIT</TITLE>
<DATELINE>    PEAPACK, N.J., March 13 - </DATELINE><BODY>Conseco Inc said it has signed a
definitive agreement to acquire Western National Life Insurance
Co from Beneficial Corp for 275 mln dlrs in cash.
    Western National had assets of 1.9 billion dlrs at the end
of 1986 and 1986 premium and investment revenues.  Western
issues structured settlement annuities for the settlement of
personal injury and damage claims and sells tax-sheltered
annuities.
    The acquisition is subject to regulatory approval.
    Conseco said the acquisition would raise its assets to 2.7
billion dlrs and annual revenues to about 800 mln dlrs.
    Beneficial had previously announced plans to leave the
insurance business.  On March Three, it said it agreed in
principle to sell its American Centennial Insurance Co,
Beneficial International Insurance Co, Consolidated MArine and
General Insurance Co Ltd, Consolidated Life Assurance Co Ltd,
Wesco Insurance Co and Service General Insurance Co
subsidiaries to a management-led group for 98 mln dlrs in notes
mostly contingent on performance of the units and 10 mln dlrs
in cash.
    Conseco had 1986 operating earnings of 4,968,000 dlrs on
revenues of 84.9 mln dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9688" NEWID="4775">
<DATE>13-MAR-1987 09:20:23.18</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;f0811&#31;reute
r f BC-GREAT-AMERICAN-BANCOR   03-13 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>GREAT AMERICAN BANCORP &lt;GRTB> 4TH QTR NET</TITLE>
<DATELINE>    CENTURY CITY, Calif., March 13 -
    </DATELINE><BODY>Shr profit seven cts vs loss 24 cts
    Net profit 151,000 vs loss 523,000
    12 mths
    Shrs loss 1.70 dlrs vs loss 44 cts
    Net loss 3,670,000 vs loss 947,000
    Assets 99.7 mln vs 102.6 mln
    Deposits 91.1 mln vs 90.6 mln
    Loans 44.3 mln vs 51.7 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9689" NEWID="4776">
<DATE>13-MAR-1987 09:20:44.18</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0813&#31;reute
d f BC-KONINKLIJKE-NEDERLAND   03-13 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>KONINKLIJKE NEDERLANDSE PAPIERFABRIEKEN &lt;KNPN.AS></TITLE>
<DATELINE>    MAASTRICHT, Netherlands, March 13 -
    </DATELINE><BODY>Net 1986 profit 132.6 mln guilders vs 117.3 mln
    Turnover 1.6 billion guilders vs same
    Earnings per share 16.00 guilders vs 15.80 on capital
expanded by 11 pct to 8.21 mln outstanding shares.
    Proposed dividend per share 5.50 guilders vs 5.00
    Note - Full company name is Koninklijke Nederlandse
Papierfabrieken NV.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9690" NEWID="4777">
<DATE>13-MAR-1987 09:21:02.67</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;f0815&#31;reute
b f BC-GENERAL-MILLS-INC-&lt;GI   03-13 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL MILLS INC &lt;GIS> 3RD QTR FEB 22 NET</TITLE>
<DATELINE>    MINNEAPOLIS, March 13 -
    </DATELINE><BODY>Shr 64 cts vs 52 cts
    Net 56,900,000 vs 46,400,000
    Sales 1.31 billion vs 1.13 billion
    Avg shrs 88.2 mln vs 89.3 mln
    Nine mths
    Shr 2.09 dlrs vs 1.59 dlrs
    Net 185,900,000 vs 141,300,000
    Sales 3.84 billion vs 3.36 billion
    Avg shrs 88.9 mln vs 89.1 mln
    NOTE: 1986 period ended February 23
    Prior year amounts restated to reflect discontinued
furniture operations
    Earnings include gains from discontinued operations of 1.5
mln dlrs, or two cts a share in the 1986 quarter and gains of
8.5 mln dlrs, or 10 cts a share in the fiscal 1987 nine months
vs 3.0 mln dlrs, or four cts a share a year earlier
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9691" NEWID="4778">
<DATE>13-MAR-1987 09:21:15.45</DATE>
<TOPICS><D>ship</D><D>grain</D></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0817&#31;reute
u f BC-UNOFFICIAL-STRIKE-IN   03-13 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>UNOFFICIAL STRIKE HITS ROTTERDAM GRAIN SECTOR</TITLE>
<DATELINE>    ROTTERDAM, March 13 - </DATELINE><BODY>About 220 men in Rotterdam port's
grain sector stopped work this afternoon in an unofficial
protest at the slow progress of negotiations over a new work
practice agreement, a spokesman for the port and transport
union FNV said.
    Negotiations between the union and employers, which are due
to resume early next week, are currently stalemated with the
union refusing to accept sweeping changes in working hours and
practices in return for a 1.5 pct pay increase.
    The FNV spokesman said the action did not yet have official
backing, but added that next week matters might be different.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9692" NEWID="4779">
<DATE>13-MAR-1987 09:21:45.77</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;f0822&#31;reute
d f BC-NOVELL-&lt;NOVL>-SETS-PA   03-13 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>NOVELL &lt;NOVL> SETS PAYMENT DATE FOR STOCK SPLIT</TITLE>
<DATELINE>    PROVO, Utah, March 12 - </DATELINE><BODY>Novell Inc said the dividend to
effect its previously announced two-for-one stock split will be
distributed April 13.
    As stated at the time of the original announcement, the
company said the payment will be made to holders of record
March 31.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9693" NEWID="4780">
<DATE>13-MAR-1987 09:21:52.03</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;f0823&#31;reute
s f BC-NORTEK-INC-&lt;NTK>-SETS   03-13 0032</UNKNOWN>
<TEXT>&#2;
<TITLE>NORTEK INC &lt;NTK> SETS QUARTERLIES</TITLE>
<DATELINE>    PROVIDENCE, March 13 -
    </DATELINE><BODY>Qtly div common 2-1/2 cts vs 2-1/2 cts prior
    Qtly div special common one ct vs one ct
    Pay May Eight
    Record April Three
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9694" NEWID="4781">
<DATE>13-MAR-1987 09:23:44.41</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0828&#31;reute
r f BC-DUTCH-PORT-UNION-CALL   03-13 0125</UNKNOWN>
<TEXT>&#2;
<TITLE>DUTCH PORT UNION CALLS OFF GENERAL CARGO STRIKES</TITLE>
<DATELINE>    ROTTERDAM, March 13 - </DATELINE><BODY>Dutch port and transport union, FNV,
has called off the strikes against planned redundancies that
have hit Rotterdam port's general cargo sector for the past
eight weeks, strike leader Paul Rosenmuller told a mass
meeting.
    The decision followed yesterday's ruling by an Amsterdam
court preventing the sector's employers continuing with current
plans for 350 redundancies this year until the court sits again
on May 7, Rosenmuller told a meeting of the general cargo
sector's 4,000 workers today.
    The court ruled the employers had made a mistake in the
complicated legal procedure for obtaining official permission
for the redundancies, and therefore could not proceed.
    "There is no need to continue the strikes for the moment now
the immediate pressure of redundancies has been lifted,"
Rosenmuller said.
    But he added that the strikes, which began on January 19 in
protest against plans for 800 redundancies by 1990, could
resume at any time before May 7 if the employers made any moves
to re-apply for permission for the redundancies.
    SVZ labour relations manager Gerrard Zeebregts said they
would be meeting their lawyers today with a view to re-applying
for this permission next week in the hope of gaining approval
for the redundancies within a month.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9695" NEWID="4782">
<DATE>13-MAR-1987 09:25:00.61</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f0834&#31;reute
b f BC-******nova-an-alberta   03-13 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>NOVA AN ALBERTA CORP 4TH QTR SHR LOSS 15 CTS VS LOSS 1.09 DLRS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9696" NEWID="4783">
<DATE>13-MAR-1987 09:32:30.96</DATE>
<TOPICS><D>money-fx</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;f0853&#31;reute
b f BC-U.K.-MONEY-MARKET-GIV   03-13 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>U.K. MONEY MARKET GIVEN FURTHER 195 MLN STG HELP</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>The Bank of England said it provided the
money market with a further 195 mln stg assistance during the
afternoon.
    This brings total help today to 841 mln stg compared with a
liquidity shortage it has estimated at a revised one billion
stg.
    The Bank bought 176 mln stg of band two bank bills outright
at 10-5/16 pct and 13 mln stg of band one bank bills at 10-3/8
pct. In addition, it bought four mln stg of bills for resale to
the market on March 30 and two mln stg for resale on April 8,
at a common interest rate of 10-7/16 pct.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9697" NEWID="4784">
<DATE>13-MAR-1987 09:33:24.73</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0857&#31;reute
r f BC-WALKER-TELECOMMUNICAT   03-13 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>WALKER TELECOMMUNICATIONS &lt;WTEL> CLOSING UNIT</TITLE>
<DATELINE>    Hauppauge, N.Y,. March 13 - </DATELINE><BODY>Walker Telecommunications Corp
said it discontinued operations of its mobile communication
division, resulting in an undisclosed one time substantial loss
for the fourth quarter and year for fiscal 1986.
    Howard Lassler, president, said the company intends to
focus management and other resources during 1987 on its
telephone systems division, and on developing new projects for
its mutual signal corp subsidiary.
    The company said dropping retail prices resulted in the
mobile division no longer being able to make a profit.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9698" NEWID="4785">
<DATE>13-MAR-1987 09:34:22.88</DATE>
<TOPICS><D>coffee</D></TOPICS>
<PLACES><D>uganda</D><D>kenya</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T
&#22;&#22;&#1;f0864&#31;reute
r f BC-UGANDA-RE-ROUTES-COFF   03-13 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>UGANDA RE-ROUTES COFFEE EXPORTS THROUGH KISUMU</TITLE>
<DATELINE>    NAIROBI, March 13 - </DATELINE><BODY>Long delays at the railway crossing on
the Kenyan border have led Uganda to re-route its coffee
exports through a ferry link with the Kenyan port of Kisumu
across Lake Victoria, Ugandan officials based in Kenya said.
    Uganda has a direct rail link with the Kenyan port of
Mombasa through which it conducts 70 pct of its external trade
but there is a chronic shortage of railway wagons, they said.
    Customs at Kisumu take less than a day compared with two to
three at the Malaba rail border crossing, a Ugandan Railways
official said. "Malaba is now handling only 10 pct of the trade
and all the coffee and oil goes through Kisumu," he said.
    However, an accident recently damaged the wagon ferry which
plies between Kisumu and the Ugandan port of Jinja, causing
bottlenecks on the lake route too.
    Sources at the Coffee Marketing Board in Kampala reported
delays in coffee export shipments last January due to
congestion on the lake ferries.
    Coffee accounts for about 95 pct of Uganda's export
earnings and last November President Yoweri Museveni ordered
all coffee shipments to be carried by rail in order to avoid
the higher costs of road haulage.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9699" NEWID="4786">
<DATE>13-MAR-1987 09:36:10.77</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0871&#31;reute
f f BC-******citicorp   03-13 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CITICORP CALL UNFOUNDED RUMORS THAT IT HAS WRITTEN OFF ANY LATIN AMERICAN DEBT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9700" NEWID="4787">
<DATE>13-MAR-1987 09:36:22.80</DATE>
<TOPICS><D>wpi</D></TOPICS>
<PLACES><D>norway</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0873&#31;reute
r f BC-NORWAY'S-WHOLESALE-PR   03-13 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>NORWAY'S WHOLESALE PRICES RISE 0.5 PCT IN FEBRUARY</TITLE>
<DATELINE>    OSLO, March 13 - </DATELINE><BODY>Norway's wholesale price index (base 1981)
rose 0.5 pct in February to 136.0 after a 1.7 pct rise in
January to 135.0, the Central Bureau of Statistics said.
    The year on year increase for February was 7.9 pct compared
with 5.7 pct in January and 2.2 pct in February 1986, it added.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9701" NEWID="4788">
<DATE>13-MAR-1987 09:37:19.82</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;f0875&#31;reute
r f BC-HEALTHCO-INTERNATIONA   03-13 0047</UNKNOWN>
<TEXT>&#2;
<TITLE>HEALTHCO INTERNATIONAL INC &lt;HLCO> 4TH QTR NET</TITLE>
<DATELINE>    BOSTON, March 13 -
    </DATELINE><BODY>Oper shr 51 cts vs 43 cts
    Oper shr diluted 47 cts vs 43 cts
    Oper net 3,182,000 vs 2,462,000
    Revs 101.7 mln vs 87.0 mln
    Avg shrs 6,246,664 vs 5,671,607
    Avg shrs diluted 7,501,209 vs 5,671,607
    Year
    Oper shr 1.84 dlrs vs 1.48 dlrs
    Oper shr diluted 1.76 dlrs vs 1.48 dlrs
    Oper net 11.5 mln vs 8,312,000
    Revs 349.2 mln vs 307.0 mln
    Avg shrs 6,238,720 vs 5,616,019
    Avg shrs diluted 6,969,389 vs 5,616,019
    NOTE: 1986 net both periods excludes charge 1,205,000 dlrs
from distribution system restructuring costs.
    1986 year net excludes 440,000 dlr debt retirement gain and
gain 12.8 mln dlrs from sale of HPSC Inc &lt;HPSC> stock.
    1986 net both periods includes charge 768,000 dlrs from
reversal of investment tax credits.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9702" NEWID="4789">
<DATE>13-MAR-1987 09:38:28.77</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>oecd</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0876&#31;reute
r f BC-LITTLE-JOY-FOR-SWISS   03-13 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>LITTLE JOY FOR SWISS EXPORTERS, STUDY SAYS</TITLE>
<DATELINE>    BERNE, March 13 - </DATELINE><BODY>The continued strength of the Swiss franc
against the dollar will largely deprive Swiss exporters of the
benefits of the upturn in the world economy, a quarterly study
by the Economics Department said.
    It said the export industry would scarcely get a boost from
the upturn in the economies of the Organization for Economic
Cooperation and Development (OECD), and predicted declines in
new orders for highly export-orientated firms.
    However, domestic demand, which stagnated in the last
quarter of 1986, would resume its growth, fuelled by higher
real incomes and buoyant consumer sentiment, it said.
    The study, which was drawn up by the department's
Commission for Economic Questions, said industrial production
would scarcely increase, with most firms apparently happy with
current numbers of workers.
    However, an increase in labour demand in the service sector
should help push up total employment, it said.
    The Commission also predicted an increase in inflation from
current low levels.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9703" NEWID="4790">
<DATE>13-MAR-1987 09:40:55.44</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f0877&#31;reute
u f BC-SALLIE-MAE-&lt;SLM>-OFFE   03-13 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>SALLIE MAE &lt;SLM> OFFERS FIXED RATE NOTES</TITLE>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>The Student Loan Marketing
Association, Sallie Mae, announced an offering of 100 mln dlrs
of three-year fixed rate notes redeemable at maturity in the
U.S. dollar equivalent of 145.2 mln Australian dlrs.
    It said the 12.125 pct obligation will be priced at par and
sold in the United States in a public offering managed by
Morgan Stanley.
    Interest payments on the notes will be made semiannually in
U.S. dlrs starting on Sept 20, 1987, Sallie Mae said.
    It added that the notes are due march 20, 1990.
    Sallie Mae said it will enter into a separate currency
exchange agreement to convert the principal payment at maturity
from Australian dollars to U.S. dollars.
    It said the notes will be issued in registered form and be
available in denominations of 10,000 U.S. dlrs and in 5,000 dlr
increments above that amount.
    Sallie Mae said proceeds will be used for general corporate
purchases.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9704" NEWID="4791">
<DATE>13-MAR-1987 09:43:54.58</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;f0892&#31;reute
d f BC-WILFRED-AMERICAN-EDUC   03-13 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>WILFRED AMERICAN EDUCATIONAL CORP &lt;WAE> 4TH QTR</TITLE>
<DATELINE>    NEW YORK, March 13 -
    </DATELINE><BODY>Shr two cts vs 36 cts
    Net 182,000 vs 3,433,000
    Revs 20.1 mln vs 21.4 mln
    Year
    Shr 71 cts vs 98 cts
    Net 6,706,000 vs 9,275,000
    Revs 85.7 mln vs 75.4 mln
    NOTE: 1985 net both periods includes gain 743,000 dlrs from
cancellation of debt.
    1986 quarter net includes reversal of 216,000 dlrs in
investment tax credits.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9705" NEWID="4792">
<DATE>13-MAR-1987 09:44:13.94</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;f0895&#31;reute
r f BC-AL-LABORATORIES-INC-&lt;   03-13 0071</UNKNOWN>
<TEXT>&#2;
<TITLE>AL LABORATORIES INC &lt;BMD> 4TH QTR NET</TITLE>
<DATELINE>    FORT LEE, N.J., March 13 -
    </DATELINE><BODY>Shr 10 cts vs 14 cts
    Net 913,000 vs 1,273,000
    Revs 37.7 mln vs 24.7 mln
    12 mths
    Shr 61 cts vs 60 cts
    Net 5,529,000 vs 5,448,000
    Revs 123.6 mln vs 96.8 mln
    NOTE: net for qtr and yr 1986 and 1985 adjusted to reflect
retroactive effect of three-for-two stock splits distributed to
shareholders in July 1986 and August 1985.
    1986 net includes results of operations of Parmed
Pharmaceuticals Inc, acquired May 29, 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9706" NEWID="4793">
<DATE>13-MAR-1987 09:44:49.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>cme</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0897&#31;reute
b f BC-/CME-BOARD-LIMITS-BUT   03-13 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>CME BOARD LIMITS BUT DOES NOT BAN DUAL TRADING</TITLE>
<DATELINE>    CHICAGO, March 13 - </DATELINE><BODY>The Chicago Mercantile Exchange's (CME)
board of directors issued a letter to its members that sets
limits, but does not ban, dual trading in the S and P 500
futures and options pit.
    The rules prohibit brokers who execute customer orders to 
trade for their own account, or engage in dual trading, from
the top step of the pit -- which the board defines as a
geographically advantageous position in the pit.
    Brokers who engage in dual trading in other areas of the
pit must record to the nearest minute those personal trades.
    The board will also set as yet unspecified percentage
limits on the trades brokers can conduct among "broker groups,"
otherwise known as "trading rings."
    By issuing its own rules, the CME's board rejected a
petition presented in February by some CME members that sought
to prohibit dual trading of any kind in the S and P 500 pits.
    The full CME membership will vote on the petition, since it
was rejected by the board, by April 13. If the members reject
the petition, the board would be free to implement its rules, a
CME spokesman said. However, the members can vote to adopt the
petition and institute a total ban on dual trading.
    The board's rules on dual trading, if implemented, would
prohibit brokers from trading for their own account once they
have executed a customer order from the top step of the pit.
    "It's a step in the right direction," said stock futures
analysts William Marcus of Donaldson, Lufkin, Jenrette Inc.
    "It's very difficult to engage in large broker business
from anywhere but the top step," he said.
    "If there were abuses, (the rules) should act to curb
them," Marcus added.
    The spokesman for the CME said the tenor of the board of
directors' letter to members appears to leave open the
possibility of additional limits on dual trading. In addition,
the limits set forth so far will have to be more closely
defined.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9707" NEWID="4794">
<DATE>13-MAR-1987 09:45:05.11</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;f0899&#31;reute
r f BC-NU-MED-INC-&lt;NUMS>-3RD   03-13 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>NU-MED INC &lt;NUMS> 3RD QTR JAN 31 NET</TITLE>
<DATELINE>    ENCINO, Calif., March 13 -
    </DATELINE><BODY>Shr 26 cts vs 10 cts
    Net 2,867,000 vs 1,208,000
    Revs 100.0 mln vs 85.0 mln
    Avg shrs 10.4 mln vs 9,791,671
    Nine mths
    Shr 57 cts vs 34 cts
    Net 6,327,000 vs 3,951,000
    Revs 284.4 mln vs 225.4 mln
    Avg shrs 10.1 mln vs 9,831,097
    Current year net both periods includes gain 1,755,000 dlrs
from change inestimation of useful lives used in depreciation
of property and equipment.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9708" NEWID="4795">
<DATE>13-MAR-1987 09:45:15.09</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f0900&#31;reute
r f BC-ALUSUISSE-PLANS-50-PC   03-13 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>ALUSUISSE PLANS 50 PCT CAPITAL CUT</TITLE>
<DATELINE>    ZURICH, March 13 - </DATELINE><BODY>Schweizerische Aluminium AG, Alusuisse,
plans to reduce share and participation certificate capital by
50 pct to cover losses in 1986 and those carried forward from
the previous year, chief executive Hans Jucker said.
    Jucker told a news conference that the greatest drain on
its financial resources had been stopped, but after
extraordinary charges the net loss of 688 mln francs in 1986
was only slightly under the 756 mln loss of the previous year.
    The losses in 1986 and those carried over from 1985 made it
necessary to reduce capital by 50 pct, he said.
    However, Jucker said the company improved liquidity through
a recovery in cash flow and conversion of 300 mln Swiss francs
of credit into a subordinated loan.
    Trading in Alusuisse shares was suspended on the Zurich
stock exchange after today's announcement by the company that
it would cut its share capital by 50 pct, the bourse said.
Trading would resume again on Monday.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9709" NEWID="4796">
<DATE>13-MAR-1987 09:45:37.90</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;f0904&#31;reute
a f BC-DAVIS-WATER-&lt;DWWS>-RE   03-13 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>DAVIS WATER &lt;DWWS> RELEASES PRE-SPLIT EARNINGS</TITLE>
<DATELINE>    THOMASVILLE, Ga., March 13 - </DATELINE><BODY>Davis Water and Waste
Industries Inc said it has restated its earnings on a pre-
stock split basis for fiscal 1987's third quarter and nine
months ended January 31, which were reported March 10 on a post
four-for-three stock split basis.
    The company said its earnings per share for the third
quarter on a pre-split basis, converts to 16 cts from 12 cts
post-split, versus three cts pre-split from two cts post-split
for fiscal 1986's third quarter.
    For the nine months, Davis said, earnings per share would
convert to 77 cts and 44 cts for fiscal 1987 and 1986
respectively, from 58 cts and 33 cts, respectively.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9710" NEWID="4797">
<DATE>13-MAR-1987 09:46:14.63</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;f0907&#31;reute
u f BC-&lt;nova-an-alberta-corp   03-13 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;NOVA AN ALBERTA CORP> 4TH QTR LOSS</TITLE>
<DATELINE>    Calgary, Alberta, March 13 -
    </DATELINE><BODY>Shr loss 15 cts vs loss 1.09 dlrs
    Net loss 19.3 mln vs loss 139.6 mln
    Revs 611.7 mln vs 868.6 mln
    Year
    Shr profit 12 cts vs loss 1.31 dlrs
    Net profit 16.1 mln vs loss 167.9 mln
    Revs 2.68 billion vs 3.35 billion
    Avg shrs 134.7 mln vs 128.1 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9711" NEWID="4798">
<DATE>13-MAR-1987 09:47:28.86</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;f0911&#31;reute
u f BC-ELDER-BEERMAN-&lt;ELDR>   03-13 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>ELDER-BEERMAN &lt;ELDR> GETS OFFER OF 30 DLRS/SHARE</TITLE>
<DATELINE>    DAYTON, Ohio, March 13 - </DATELINE><BODY>Elder-Beerman Stores Corp said
owners of about 70 pct of its stock have offered to take the
company private by offerring 30 dlrs per share for the
remaining 30 pct of its stock.
    The company said the proposal will be considered at a
regularly scheduled board meeting on March 17.
    It said the offer was made by members of the Beerman family
holding about 70 pct of the company's stock, Chairman Max
Gutmann, and certain members of the board.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9712" NEWID="4799">
<DATE>13-MAR-1987 09:47:33.20</DATE>
<TOPICS></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0912&#31;reute
f f BC-FRANCE-SETTLES-21.95   03-13 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FRANCE SETTLES 21.95 BILLION FRANCS SHORT-TERM CURRENCY INTERVENTION
 DEBT - OFFICIAL
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9713" NEWID="4800">
<DATE>13-MAR-1987 09:52:16.12</DATE>
<TOPICS></TOPICS>
<PLACES><D>brazil</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0920&#31;reute
b f BC-/CITICORP-&lt;CCI>-DENIE   03-13 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>CITICORP &lt;CCI> DENIES RUMORS OF DEBT WRITEDOWN</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>Citicorp denied financial market
rumors that it has written off some of its loans to Latin
American debtors,
    "Rumors that we have written off any of our Latin American
debt are unfounded," a Citicorp spokesman told Reuters in
response to London-based rumors in the money markets.
    Citicorp is the largest bank group in the U.S. and one of
the biggest lenders to Latin America, with some eight to nine
billion dlrs outstanding to Brazil, Mexico and Argentina, bank
analysts said.
    In response to more specific market rumors that it had
taken action on its exposure to Brazil, Citicorp said it made
an 8-K filing on the subject with the Securities and Exchange
Commission on Tuesday in relation to a registration statement
for a preferred stock issue.
    Citing the filing, Citicorp said that Brazil's recent
suspension of interest payments on 68 billion dlrs of
commercial bank debt and related actions "may require Citicorp
to place 3.9 billion dlrs of intermediate and long-term
Brazilian loans on a cash basis."
    When loans are placed on a cash basis, interest or
principal payments are only booked when received instead of
being accrued on their due dates, analysts noted.
    However, Citicorp said in the 8-K filing that "it is
premature to make such a decision at this time in view of the
fluidity of the situation and management's high confidence in
the long-term outlook for Brazil."
    Brazil's new central bank governor Francisco Gros met
senior commercial bankers here on Wednesday and Citicorp said
formal talks on Brazil's recent actions and future financing
needs should begin in "the near future".
    Citicorp said in the filing, "the issue will be
re-evaluated at the end of the first quarter."
    The bank group continued, "if it is decided that these
loans to Brazil should be placed on a cash basis, Citicorp
estimates, based on existing interest rates, that the impact in
the first quarter would be approximately 50 mln dlrs after tax
and for the full year would be approximately 190 mln dlrs after
tax."
    It added that these amounts include interest accrued in
1986 that has not yet been collected.
    Although Citicorp denied earlier rumors of major loan
writedowns, its warning that it may have to place some of its
Brazilian loans on non-accrual unnerved many Wall Street
investors.
    The common stock price was down one dlr to 51-1/8 after the
first hour on a volume of over 500,000 shares.
    However, Lawrence Cohn, analyst at Merrill Lynch and Co
Inc, said that the market's nervousness was not really
warranted.
    "Citicorp can afford it," he said. "The amounts they are
talking about are peanuts."
REUTER...^M
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9714" NEWID="4801">
<DATE>13-MAR-1987 09:53:18.14</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;f0925&#31;reute
u f BC-ECHLIN-INC-&lt;ECH>-DIVI   03-13 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>ECHLIN INC &lt;ECH> DIVIDEND INCREASED 12 PCT</TITLE>
<DATELINE>    BRANFORD, Conn., March 12 -
    </DATELINE><BODY>Qtly div 14 cts vs 12.5 cts in prior qtr
    Payable April 18
    Record April two
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9715" NEWID="4802">
<DATE>13-MAR-1987 09:53:58.94</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0929&#31;reute
r f BC-PRIVATE-BRANDS-INC-&lt;P   03-13 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>PRIVATE BRANDS INC &lt;PRIBU> TO SEPARATE UNIT</TITLE>
<DATELINE>    BROOKLYN, N.Y., March 13 - </DATELINE><BODY>Private Brands Inc said it will
separate itself into component parts, all of which will trade
individually effective March 16.
    The designer and manufacturer of men's and women's leisure
wear said the L.C. Wegard and Co Inc., its underwriter
representative, requested the units trade separately.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9716" NEWID="4803">
<DATE>13-MAR-1987 09:54:14.49</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;f0931&#31;reute
d f BC-NATIONAL-ENTERTAINMEN   03-13 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>NATIONAL ENTERTAINMENT CORP &lt;NENT> 3RD QTR NET</TITLE>
<DATELINE>    LAS VEGAS, Nev., March 13 - </DATELINE><BODY>Jan 31 end
    Shr six cts vs eight cts
    Net 177,000 vs 252,000
    Revs 3,209,000 vs 1,070,000
    Nine mths
    Shr 12 cts vs eight cts
    Net 365,000 vs 247,000
    Revs 7,156,000 vs 2,960,000
    NOTE: Prior year net both periods includes 91,000 dlr tax
credit.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9717" NEWID="4804">
<DATE>13-MAR-1987 09:54:23.22</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;f0932&#31;reute
d f BC-NATIONAL-ENTERTAINMEN   03-13 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>NATIONAL ENTERTAINMENT &lt;NENT> REVERSE SPLIT SET</TITLE>
<DATELINE>    LAS VEGAS, Nev., March 13 - </DATELINE><BODY>National Entertainment Corp
said shareholdersapproved a one-for-25 reverse stock split and
a name change to Major Video Corp, both effective March 16.
    It said its new ticker symbol will be &lt;MAJV>.
    The company also said it expects to add nine company-owned
and franchised Major Video stores in the next 60 days.  It now
operates 64.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9718" NEWID="4805">
<DATE>13-MAR-1987 09:55:07.13</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;f0937&#31;reute
d f BC-&lt;pembina-resources-lt   03-13 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;PEMBINA RESOURCES LTD> YEAR NET</TITLE>
<DATELINE>    Calgary, Alberta, March 13 -
    </DATELINE><BODY>Shr 48 cts vs 81 cts
    Net 3,986,000 vs 6,760,000
    Revs 77.3 mln vs 40.5 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9719" NEWID="4806">
<DATE>13-MAR-1987 09:56:18.23</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;f0941&#31;reute
u f BC-COMPUTER-MEMORIES-&lt;CM   03-13 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>COMPUTER MEMORIES &lt;CMIN> SETS FILM FIRM MERGER</TITLE>
<DATELINE>    LOS ANGELES, March 13 - </DATELINE><BODY>Computer Memories Inc, which ended
its disk drive operations in June 1986, agreed to acquire
&lt;Hemdale Film Corp> in a transaction which will give Hemdale's
owner control of the resulting company.
    Computer Memories' principal asset is about 29.4 mln dlrs
in cash and cash equivalents. It has agreed to exchange newly
issued shares equaling 80 pct of the aggregate issued to
acquire Hemdale. That company's owner, John Daly, would then
become chief executive officer of the combined company which
would be renamed Hemdale Film Corp.
    Computer Memories said the proposed transaction is subject
to the results of certain corporate reviews and approval of its
shareholders, who will hold a special meeting as soon as
practicable.
    The company said it has 11,109,190 shares outstanding, of
which about 1,734,000 are held by Intel Corp &lt;INTC>. It is
anticipated the FIntel shares will be purchased for 2.75 dlrs a
share in connection with the merger with Hemdale, Computer
Memories said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9720" NEWID="4807">
<DATE>13-MAR-1987 09:59:16.72</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;f0952&#31;reute
d f BC-KLM-SEEKS-STAKE-IN-BR   03-13 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>KLM SEEKS STAKE IN BRITISH COURIER SERVICE</TITLE>
<DATELINE>    AMSTERDAM, March 13 - </DATELINE><BODY>KLM Royal Dutch Airlines &lt;KLM.AS>
said it is negotiating for a minority stake in a British and
Commonwealth Shipping Plc &lt;BCOM.L> courier service in a
transaction which might include a convertible loan issue.
    KLM, already active in the fast growing door-to-door
delivery market through a 50-pct stake in a Dutch courier
service, is seeking to buy one-third of &lt;IML Air Services Group
Ltd> from British and Commonwealth.
    The two companies agreed earlier this month for KLM to take
a 15-pct stake in British and Commonwealth commuter airline Air
U.K. Ltd in a deal worth around two mln stg.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9721" NEWID="4808">
<DATE>13-MAR-1987 10:01:56.08</DATE>
<TOPICS><D>inventories</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0960&#31;reute
f f BC-******U.S.-JAN-BUSINE   03-13 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>U.S. JAN BUSINESS INVENTORIES ROSE 0.9 PCT AFTER A REVISED 0.6 PCT DEC FALL
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9722" NEWID="4809">
<DATE>13-MAR-1987 10:02:20.72</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>belgium</D><D>west-germany</D><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0963&#31;reute
u f BC-ECONOMIC-SPOTLIGHT--   03-13 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>ECONOMIC SPOTLIGHT - EMS MARKS EIGHTH BIRTHDAY</TITLE>
<AUTHOR>    By Tony Carritt, Reuters</AUTHOR>
<DATELINE>    BRUSSELS, March 13 - </DATELINE><BODY>The European Monetary System marks its
eighth anniversary still vulnerable to turmoil in world money
markets despite creating an island of currency rate stability
in Europe, economists say. But many economists say the system,
which holds eight European Community currencies within narrow
fluctuation bands, remains in its infancy.
    Its new currency, the European Currency Unit (Ecu), has
been a runaway success with investors and borrowers alike
seeking an alternative to the volatile dollar.
    And on Wednesday, the long term vision of the Ecu as
Europe's common currency took a step nearer to becoming reality
when Belgium minted the world's first Ecu coin.
    But economists say members such as West Germany have so far
blocked a second stage of development envisaged by the system's
founding fathers, ex-West German Chancellor Helmut Schmidt and
former French President Valery Giscard d'Estaing.
    Under this phase, originally due to have started two years
after the EMS was set up, decision-making was to have been
transferred from national governments and central banks to an
autonomous European Monetary Fund.
   But members have jealously guarded their sovereignty in
economic and monetary matters. "The basic problem of the EMS is
that governments are not prepared to make the quantum leap to a
situation where certain decisions are taken in common," said one
economist who has closely watched the system's development.
    The result is that the EC is often divided over policy on
third currencies, accentuating what the economists say is the
system's greatest weakness, its vulnerability to a weak dollar.
    Over the past 18 months, as the U.S. Dollar plunged and
investors moved into strong currencies, the resulting sharp
rise of the West German mark severely strained the system. MORE
    As the mark soared against the dollar, it also rose against
EMS currencies less favoured by international investors. And as
West Germany last year refused to give in pressure from several
EC partners and the United States to cut interest rates to slow
the mark's rise, the EMS had to be realigned twice to ease
financial and trade strains within the community.
    Two months ago the mark and the Dutch guilder were revalued
by three pct and the Belgian and Luxembourg francs by two pct
against other currencies in the system -- the French franc,
Italian lira, the Irish punt and Danish crown.
   Another frustration has been Britain's failure to lend the
EMS political support by keeping the pound, still a major world
currency, outside the system.
    No change in the British government's attitude is expected
before the country's next general elections, due by mid-1988.
    Meanwhile, the system's last realignment, the 11th since it
was set up, prompted European finance ministers to ask the EC's
highly-secretive Monetary Committee and Committee of Central
Bank Governors to come up with suggestions for reinforcing it.
    Their ideas are due to be unveiled when finance ministers
hold an informal meeting in Belgium early next month.
    But economists said the proposals are unlikely to involve
more than tinkering with technical details. They are sceptical
about the chances for any fundamental change.
    "Technical measures won't be enough to protect the EMS
against external factors such as dollar weakness. For that we
must take the step forward to the institutional level," said Leo
de Corel of Kredietbank's economic research department.
    Economists say the system's fortunes now will depend
largely on the success of an agreement last month among major
industrial nations to stabilise exchange rates. If the dollar
resumes its slide the EMS could be in for more turbulence, they
predict.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9723" NEWID="4810">
<DATE>13-MAR-1987 10:02:56.99</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;f0968&#31;reute
r f BC-resending   03-13 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL MILLS&lt;GIS> SEES STRONG 4TH QTR RESULTS</TITLE>
<DATELINE>    MINNEAPOLIS, March 13 - </DATELINE><BODY>General Mills Inc, reporting
stronger results for the third quarter ended February 22, said
it expects the momentum to continue in the fourth quarter.
    The company said it expects to report "strong earnings per
share growth and a record return on equity in fiscal 1987." It
said this should be achieved despite expected non-operating
charges in the final quarter.
    General Mills said these charges will likely offset
non-operating gains, which included six cts a share in the
first half.
    General Mills said at the end of the third quarter, its
return on average equity was 31.6 pct.
    It said major factors contributing to the third quarter
improvement were an 11 pct gain in unit volume by Consumer
Foods, continuing good profit growth at Red Lobster USA and
strong performance in Specialty Retailing.
    The company reported quarterly earnings of 56.9 mln dlrs,
or 64 cts a share, up from 46.4 mln dlrs, or 52 cts a share a
year ago. Sales rose to 1.31 billion dlrs from 1.13 billion
dlrs. Year-ago data reflect a two-for-one common stock split.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9724" NEWID="4811">
<DATE>13-MAR-1987 10:03:43.72</DATE>
<TOPICS><D>inventories</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0971&#31;reute
b f BC-/U.S.-JANUARY-BUSINES   03-13 0080</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. JANUARY BUSINESS INVENTORIES ROSE 0.9 PCT</TITLE>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>U.S. business inventories rose 5.6
billion dlrs, or 0.9 pct, to a seasonally adjusted 592.19
billion dlrs in January, the Commerce Department said.
    It was the largest inventory rise since July, 1979, when
inventories were up 1.7 pct.
    In December, inventories fell a revised 3.4 billion dlrs,
or 0.6 pct, to 586.65 billion dlrs. Previously, the department
said inventories fell 0.5 pct in December.
    Business sales fell 20.1 billion dlrs, or 4.5 pct, in
January to 428.75 billion dlrs after rising by three pct in
December to 448.82 billion dlrs.
    The department said it was the largest monthly sales drop
on record.
    January inventories were up 8.2 billion dlrs, or 1.4 pct,
from the year-ago level of 583.99 billion dlrs.
    Durable goods inventories rose 1.4 pct to 366.13 billion in
January dlrs while nondurables inventories were up 0.2 pct from
December levels to 226.07 billion dlrs.
    Manufacturers inventories were up 0.5 pct to 277.02 billion
dlrs in January after falling by 0.3 pct in December to 275.53
billion dlrs.
    Wholesalers' inventories rose 1.3 pct in January to 140.25
billion dlrs.
    The inventory-to-sales ratio rose to 1.38, up .07 from
December, the department said.
    January's sales were 2.82 billion dlrs or 0.7 pct below the
January, 1986, level of 431.56 billion dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9725" NEWID="4812">
<DATE>13-MAR-1987 10:04:11.49</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;f0973&#31;reute
d f BC-PACKAGING-SYSTEMS-&lt;PA   03-13 0053</UNKNOWN>
<TEXT>&#2;
<TITLE>PACKAGING SYSTEMS &lt;PAKS> TO BUY LABEL FIRM</TITLE>
<DATELINE>    PEARL RIVER, N.Y., March 13 - </DATELINE><BODY>Packaging Systems Corp said
it agreed to acquire &lt;Walter-Richter Labels Inc>, a privately
held maker of woven labels based in Paterson, N.J.
    Terms of the acquisition, which is expected to be completed
within 60 days, were not disclosed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9726" NEWID="4813">
<DATE>13-MAR-1987 10:05:27.58</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0978&#31;reute
r f BC-ORBIS-&lt;ORBS>-INITIAL   03-13 0036</UNKNOWN>
<TEXT>&#2;
<TITLE>ORBIS &lt;ORBS> INITIAL OFFERING UNDERWAY</TITLE>
<DATELINE>    PROVIDENCE, R.I., March 13 - </DATELINE><BODY>Orbis Inc said an initial
public offering of one mln common shares is underway at 2.50
dlrs each through underwriter Providence Securities Inc.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9727" NEWID="4814">
<DATE>13-MAR-1987 10:05:38.79</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;f0979&#31;reute
r f BC-MANUFACTURED-HOMES-IN   03-13 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>MANUFACTURED HOMES INC &lt;MNH> YEAR NET</TITLE>
<DATELINE>    WINSTON-SALEM, N.C., March 13 -
    </DATELINE><BODY>Shr 53 cts vs 85 cts
    Net 2,033,425 vs 3,718,325
    Revs 120.6 mln vs 79.5 mln
    NOTE: 1986 net includes 3,300,000 dlr provision for credit
loss.
    1985 net includes charge 504,571 dlrs from cumulative
effect of accounting change.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9728" NEWID="4815">
<DATE>13-MAR-1987 10:05:52.33</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;f0980&#31;reute
r f BC-MINNESOTA-POWER-&lt;MPL>   03-13 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>MINNESOTA POWER &lt;MPL> DEBT DOWNGRADED BY MOODY'S</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>Moody's Investors Service Inc said it
lowered Minnesota Power and Light Co's 490 mln dlrs of debt.
    Cut were the company's first mortgage bonds and pollution
control revenue bonds to A-2 from Aa-3, unsecured pollution
control and industrial revenue bonds to A-3 from A-1 and
preferred stock to A-2 from Aa-3.
    Moody's expects Minnesota Power's earnings, returns,
coverage ratios and cash flow measures to decline substantially
during the next few years. It cited tax reform, weaker
performance by the utility's securities investment program and
initial losses for non-utility business.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9729" NEWID="4816">
<DATE>13-MAR-1987 10:06:02.13</DATE>
<TOPICS><D>gold</D></TOPICS>
<PLACES><D>haiti</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f0981&#31;reute
r f PM-HAITI-GOLD 1stld  03-13 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>HAITI ANNOUNCES FIND OF ORE-RICH GOLD FIELD</TITLE>
<DATELINE>    PORT-AU-PRINCE, Haiti, March 13 - </DATELINE><BODY>The  Ministry of Mines
has announced the discovery of a major gold field in Grand Bois
in Haiti's mineral-rich North.
    At a press conference yesterday, a Ministry spokesman
reported the deposit contained an estimated 44 mln tons of ore,
with each ton capable of containing 7,666 grams of gold. The
spokesman gave no estimate of what he thought the find,
discovered on Wednesday, was worth.
    However, mining could only begin after foreign partners
invest eight mln dlrs needed for technical equipment, the
spokesman said.
    The Haitian government has never before operated a gold
mine, but the United Nations has recently completed a three
year feasibility study which lists Grand Bois and Morne Bossa
as sites of important gold deposits.
    In 1971, the Sedren copper mine in Gonaives, operated by a
Canadian firm, closed down after years of mining a concentrate
containing gold as well as copper.
    "The new Grand Bois mine represents large amounts of money,"
said a former official of Sedren Mine.
    "But like everything else there's a catch. The gold has to
be extracted, and first someone has to come up with the money
to finance the operation," the official, who asked not to be
named, told Reuters.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9730" NEWID="4817">
<DATE>13-MAR-1987 10:06:16.46</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;f0983&#31;reute
r f BC-HOME-GROUP-&lt;HME>-APPR   03-13 0033</UNKNOWN>
<TEXT>&#2;
<TITLE>HOME GROUP &lt;HME> APPROVED FOR NYSE LISTING</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>Home Group Inc said its common stock
will be listed on the &lt;New York Stock Exchange> on March 31.
    The stock now trades on the Amex.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9731" NEWID="4818">
<DATE>13-MAR-1987 10:06:33.72</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;f0985&#31;reute
d f BC-HOLIDAY-CORP-&lt;HIA>,-C   03-13 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>HOLIDAY CORP &lt;HIA>, COMSAT &lt;CQ> CLOSE SALE</TITLE>
<DATELINE>    MEMPHIS, March 13 - </DATELINE><BODY>Holiday Corp and Communications
Satellite Corp said they closed the previously announced sale
to Comsat of Holiday's 50 pct interest in Hi-Net
Communications, their joint venture that provides in-room video
entertainment to hotels by satellite.
    Under terms of the deal, Comsat paid Holiday 25 mln dlrs in
cash and assumed half of the venture's 50 mln dlrs of
outstanding debt, the company's said.
    Hi-Net, they added, will continue to provide programming to
Holiday's hotels.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9732" NEWID="4819">
<DATE>13-MAR-1987 10:06:39.13</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;f0986&#31;reute
d f BC-CONSUMERS-FINANCIAL-C   03-13 0049</UNKNOWN>
<TEXT>&#2;
<TITLE>CONSUMERS FINANCIAL CORP &lt;CFIN> 1986 NET</TITLE>
<DATELINE>    CAMP HILL, Pa., March 13 -
    </DATELINE><BODY>Shr 61 cts vs 42 cts
    Net 6,247,000 vs 5,587,000
    Rev 65.4 mln vs 53.6 mln
    NOTE: 1986 net includes investment gains of 25 cts a share,
versus six cts a share for 1985, and extraordinary gain of
seven cts a share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9733" NEWID="4820">
<DATE>13-MAR-1987 10:06:44.44</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;f0987&#31;reute
d f BC-CHICAGO-RIVET-AND-MAC   03-13 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>CHICAGO RIVET AND MACHINE CO &lt;CVR> 4TH QTR NET</TITLE>
<DATELINE>    NAPERVILLE, ILL., March 13 -
    </DATELINE><BODY>Shr 21 cts vs 60 cts
    Net 156,576 vs 443,404
    Sales 5,309,519 vs 5,381,264
    Year
    Shr 1.06 dlrs vs 1.55 dlrs
    Net 788,220 vs 1,151,330
    Sales 22.3 mln vs 23.6 mln
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9734" NEWID="4821">
<DATE>13-MAR-1987 10:06:48.71</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;f0988&#31;reute
s f BC-FILTERTEK-INC-&lt;FTK>-S   03-13 0022</UNKNOWN>
<TEXT>&#2;
<TITLE>FILTERTEK INC &lt;FTK> SETS QUARTERLY</TITLE>
<DATELINE>    HEBRON, Ill., March 13 -
    </DATELINE><BODY>Qtly div 11 cts vs 11 cts prior
    Pay May 15
    Record May One
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9735" NEWID="4822">
<DATE>13-MAR-1987 10:06:58.49</DATE>
<TOPICS><D>money-fx</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;f0989&#31;reute
b f BC-UK-MONEY-MARKET-GIVEN   03-13 0088</UNKNOWN>
<TEXT>&#2;
<TITLE>UK MONEY MARKET GIVEN LATE HELP OF 185 MLN STG</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>The Bank of England said it gave the
money market late, unspecified assistance of around 185 mln
stg.
    This takes the total liquidity injected into the system by
the bank today to 1.026 billion stg compared with a shortage it
estimated at around one billion stg.
    Overnight interbank sterling dipped to 10 nine pct after
the bank's announcement compared with levels around 10-1/2 pct
shortly before and 11-1/4 11 pct initially today, dealers said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9736" NEWID="4823">
<DATE>13-MAR-1987 10:07:18.18</DATE>
<TOPICS></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;f0990&#31;reute
u f BC-U.S.-FIRMS-LOBBY-FOR   03-13 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. FIRMS LOBBY FOR DUTCH HELICOPTER ORDER</TITLE>
<DATELINE>    THE HAGUE, March 13 - </DATELINE><BODY>A delegation from McDonnell-Douglas
Corp &lt;MD.N> will visit the Dutch parliament on Monday in an
attempt to win a 2.5-billion guilder helicopter order, a
Defence Ministry spokesman said.
    U.S. Helicopter manufacturer &lt;Sikorsky> approached Dutch
parliamentarians and army officials last month, he added.
    The Dutch seek 50 new army helicopters over a 10-year
period and plan to replace Lynx navy helicopters before the
year 2000.
    The first batch of 20 helicopters has to be operative in
1990, while the next 30 will be introduced gradually in the
following years, spokesman Cent van Vliet said.
    The U.S. Visit come as the Dutch have already narrowed down
their options to the Mongoose of Italian producer &lt;Agusta Spa>
and the Panther of French firm &lt;Aerospatiale>, Van Vliet said.
    The Dutch had not considered U.S. Helicopters, he said,
adding the Ministry planned to present its choice to parliament
in May.
    European models rejected include the Lynx III of British
manufacturer &lt;Westland>. A parliamentary accounting watchdog
this week blasted the performance of 22 older versions of the
Lynx currently used by the navy, saying they were hardly up to
their job.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9737" NEWID="4824">
<DATE>13-MAR-1987 10:08:56.89</DATE>
<TOPICS><D>rubber</D></TOPICS>
<PLACES><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T
&#22;&#22;&#1;f0000&#31;reute
u f BC-NEW-RUBBER-PACT-APPEA   03-13 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW RUBBER PACT APPEARS IN THE BALANCE</TITLE>
<DATELINE>    GENEVA, March 13 - </DATELINE><BODY>Negotiations on a new International
Natural Rubber Agreement, INRA, are approaching the
make-or-break point and prospects for a future pact appear to
be in the balance, delegates said.
    Manaspas Xuto of Thailand, chairman of the INRA
renegotiation conference, is holding consultations with a small
group of producers and consumers to try to resolve major
outstanding issues. When the talks began on Monday Xuto said
those issues should be settled by the end of the first week to
allow time to draft an agreement during the second week.
    The talks are due to last until March 20.
    Xuto said, "There is nothing concrete yet, but the
atmosphere is good." The discussions are expected to continue
late into the night, and Xuto said he may hold weekend
meetings.
    Delegates said negotiations now focus on the degree to
which price adjustments should be automatic.
    At present, if the market price has been above or below the
reference price (set at 201.66 Malaysian/Singapore cents a kilo
in the current agreement) for six months, the reference price
is revised by five pct or by an amount decided by the
International Natural Rubber Organisation council.
    Consumers are asking that, in these circumstances, the
adjustment be automatic at five pct or more.
    Producers want the council to have the last word and have
resisted reducing its role in the price adjustment procedure.
    Delegates said there seems to be optimism about settling
another issue -- that of the floor price.
    It now appears that consumers may consider dropping their
insistence of a downward adjustment of the floor price, called
the "lower indicative price," under certain circumstances.
    This means that any possible compromise would centre on the
reference price, and the "may buy" (or "may sell") and "must buy" or
"must sell" levels, without changing the "lower indicative price"
-- which is set at 150 Malaysian/Singapore cents in the current
pact.
    Delegates said that in exchange for consumer flexibility on
the floor price question, producers may consider agreeing to
another consumer proposal for more frequent price reviews -- at
12 month intervals instead of 18 at present.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9738" NEWID="4825">
<DATE>13-MAR-1987 10:11:10.04</DATE>
<TOPICS><D>grain</D><D>corn</D></TOPICS>
<PLACES><D>ussr</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0010&#31;reute
b f BC-SOVIETS-RUMORED-TO-HA   03-13 0124</UNKNOWN>
<TEXT>&#2;
<TITLE>SOVIETS RUMORED TO HAVE BOUGHT MORE U.S. CORN</TITLE>
<DATELINE>   KANSAS CITY, March 13 - </DATELINE><BODY>The Soviet Union is rumored
this morning to have bought up to 1.5 mln tonnes of U.S. corn,
export trade sources said.
    The amount was not confirmed, but the talk was widespread
through the trade. Gulf cash barge basis levels jumped two to
three cents this morning on the rumors, which were expected to
boost futures prices on today's open.
    The Soviet Union recently bought over 1.0 mln tonnes of
U.S. corn, ostensibly as a conciliatory gesture ahead of trade
talks with U.S. agriculture officials.
    Purchases rumored today were seen as a positive factor in
light of a Soviet trade official's statement that the previous
purchase had satisfied near-term needs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9739" NEWID="4826">
<DATE>13-MAR-1987 10:12:34.77</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0019&#31;reute
r f BC-BIOASSY-&lt;BSCC>-HAS-CL   03-13 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>BIOASSY &lt;BSCC> HAS CLOSED WOBURN FACILITY</TITLE>
<DATELINE>    WOBURN, Mass., March 13 - </DATELINE><BODY>Bioassay Systems Corp said its
toxicology facility in Woburn was closed February 28.
    The company said it is exploring opportuniites to dispose
of the operation's assets and assign its lease or sublease the
space.
    Bioassay said its Decatur, Ill., facility remains fully
operational.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9740" NEWID="4827">
<DATE>13-MAR-1987 10:12:43.17</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;f0020&#31;reute
d f BC-TRANSACT-INT'L-INC-&lt;T   03-13 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>TRANSACT INT'L INC &lt;TACT> 3RD QTR JAN 31 NET</TITLE>
<DATELINE>    DARIEN, Conn., March 13 -
    </DATELINE><BODY>Shr one ct vs three cts
    Net 66,922 vs 194,531
    Rev 4.2 mln vs 5.7 mln
    Nine months
    Shr two cts vs four cts
    Net 93,802 vs 260,702
    Rev 10.1 mln vs 13.2 mln
    NOTE: Nine months 1987 period includes gain of 196,043 dlrs
from sale of Meston Lake Resources shares and a credit of
127,000 dlrs from a favroable settlement of s state income tax
assessment. 1986 nine months period includes gain of 160,431
dlrs, or two cts a share, from sale of Ferrotherm Co.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9741" NEWID="4828">
<DATE>13-MAR-1987 10:16:17.59</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0036&#31;reute
f f BC-******   03-13 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE> German federal railways stock 900 mln marks, 10 years at 6-1/4 pct and par - Bundesbank
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9742" NEWID="4829">
<DATE>13-MAR-1987 10:17:10.14</DATE>
<TOPICS><D>money-fx</D></TOPICS>
<PLACES><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0040&#31;reute
b f BC-FRANCE-REPAYS-SOME-OF   03-13 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>FRANCE REPAYS SOME OF CURRENCY INTERVENTION DEBT</TITLE>
<DATELINE>    PARIS, March 13 - </DATELINE><BODY>France today repaid 21.95 billion francs
of short-term currency intervention debt to the European
Monetary Cooperation Fund, EMCF, the Finance Ministry said.
    It said the debt was part of a 33.90 billion franc
liability incurred through the activation of EMCF swap
facilities to defend the franc before the January 11 European
Monetary System realignment.
    The realignment, following several weeks of speculative
pressure, produced a three pct revaluation of the West German
mark and the Dutch guilder against the French franc and a two
pct revaluation of the Belgian franc.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9743" NEWID="4830">
<DATE>13-MAR-1987 10:21:58.01</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;f0052&#31;reute
b f BC-WEST-GERMAN-RAILWAY-I   03-13 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>WEST GERMAN RAILWAY ISSUES DOMESTIC STOCK</TITLE>
<DATELINE>    FRANKFURT, March 13 - </DATELINE><BODY>The West German federal railway is
raising 900 mln marks through a 10-year loan stock on the
domestic market with a coupon of 6-1/4 pct and price of par, a
Bundesbank spokesman said in response to enquiries.
    Some 750 mln marks will be offered for immediate sale with
75 mln held back for market regulation and the remaining 75 mln
placed with the railways own bank.
    The stock will be offered for sale between March 17 and 19
and will be listed on all German stock exchanges from March 20
to 24. The stock pays annual interest on April 1.
    Terms of the bond conformed with those expected earlier
today, dealers said.
    The bond rose in the first hour of grey market trading to
less 7/8, less 5/8, after being quoted at less 1-1/8, less 7/8
in first business.
    Dealers said demand rose owing to the bond's relatively
small size.
    In contrast, the last railway issue in January totalled 1.1
billion marks, of which 900 mln was distributed for immediate
sale.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9744" NEWID="4831">
<DATE>13-MAR-1987 10:22:29.45</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E Y
&#22;&#22;&#1;f0054&#31;reute
f f BC-******SHELL-CANADA-RA   03-13 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>SHELL CANADA RAISES CRUDE PRICES BY 64 CANADIAN CTS/BBL TODAY AT EDMONTON
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9745" NEWID="4832">
<DATE>13-MAR-1987 10:22:35.58</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T M
&#22;&#22;&#1;f0055&#31;reute
u f BC-CORRECTION---SAO-PAUL   03-13 0051</UNKNOWN>
<TEXT TYPE="UNPROC">&#2;
CORRECTION - TWO BRAZIL SHIPPING FIRMS SETTLE
    In today's Sao Paulo story headlined "TWO BRAZILIAN SHIPPING
FIRMS SETTLE WITH STRIKERS" please read in second para ... Offer
from the companies, Global and Flumar ... instead of ... Offer
from the companies, Globo and Flumar ... corrects name of first
company.
 Reuter
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9746" NEWID="4833">
<DATE>13-MAR-1987 10:23:55.05</DATE>
<TOPICS><D>livestock</D><D>hog</D></TOPICS>
<PLACES><D>haiti</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;L
&#22;&#22;&#1;f0065&#31;reute
d f PM-PIGS   03-13 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>HAITI ALLOWS IMPORTATION OF BANNED BLACK PIGS</TITLE>
<DATELINE>    PORT-AU-PRINCE, March 13 - </DATELINE><BODY>Haiti's agriculture minister
yesterday announced his department will permit the importation
of 730 black Creole pigs, which had been banned from the island
nation since 1983.
    Between 1981 and 1983, a team of Canadian veterinarians
funded by the United States, Canada, Mexico and Costa Rica
supervised the slaughter of all Haiti's 1,200,000 pigs under a
program to eradicate African swine flu.
    Today's announcement that Catholic Relief Services
(CARITAS) can import 730 Jamaican pigs comes after months of
protests by farmers who had owned 90 pct of the slaughtered
pigs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9747" NEWID="4834">
<DATE>13-MAR-1987 10:26:25.26</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;f0073&#31;reute
d f BC-LEAR-PETROLEUM-&lt;LPT>   03-13 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>LEAR PETROLEUM &lt;LPT> CONSOLIDATES GAS UNITS</TITLE>
<DATELINE>    DALLAS, March 13 - </DATELINE><BODY>Lear Petroleum Corp said it consolidated
and reorganized its gas transmission, gathering and marketing
operations into three new companies.
    It said the new Lear Gas Gathering Co will handle all the
gas gathering and processing operations previously done by
Producer's Gas Co, Rael Gas Co, PGC Processing Co, Anadarko
Gathering Co and LPC Energy Inc.
    Lear said its gas transmission businesses, LPC Energy Inc,
Producer's Gas Co and Rael Gas Co, were consolidated in Lear
Gas Transmisssion Co.
    At the same time, Lear said the gas marketing business
previously conduct by PGC Marketing Inc will be assumed by Lear
Gas Marketing Co.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9748" NEWID="4835">
<DATE>13-MAR-1987 10:26:41.38</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>ussr</D><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0075&#31;reute
r f BC-GERMAN-BANK-SEES-GOOD   03-13 0113</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN BANK SEES GOOD SOVIET TRADE PROSPECTS</TITLE>
<DATELINE>    FRANKFURT, March 13 - </DATELINE><BODY>Soviet-West German trade is expected
to develop favourably due to Moscow's increasing openness to
East-West economic relations, Dresdner Bank AG's Moscow
representative Michael Stein said.
    He told a bank presentation the Soviet Union was last year
hit by the fall in world oil prices, which cut export revenue
from oil-related products and natural gas, and its overseas
buying power was also adversely affected by the lower dollar.
   Dresdner Bank economist Alfred Apholte said the Soviet
Union's large currency and gold reserves had softened the
impact of the dollar weakening and oil price drop.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9749" NEWID="4836">
<DATE>13-MAR-1987 10:26:59.07</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f0078&#31;reute
f f BC-******MOODY'S-DOWNGRA   03-13 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>MOODY'S DOWNGRADES BENEFICIAL CORP'S 3.4 BILLION DLRS OF DEBT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9750" NEWID="4837">
<DATE>13-MAR-1987 10:29:08.93</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0089&#31;reute
u f BC-PENRIL-&lt;PNL>-ELECTS-P   03-13 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>PENRIL &lt;PNL> ELECTS PRESIDENT, SETS FINANCING</TITLE>
<DATELINE>    ROCKVILLE, Md., March 13 - </DATELINE><BODY>Penril Corp said its board
elected Henry David Epstein president, chief executive officer
and a director.
    The company said Epstein and other investors have agreed to
invest 1.5 mln dlrs in the company's shares and warrants
subject to satisfaction of certain conditions.
    Penril said its founder, Alva T. Bonda, remains as
chairman.
    It noted Epstein is chairman of Computer Communications Inc
&lt;CCMM>. He is a former senior executive of Loral Corp &lt;LOR> and
of Texas Instruments Inc &lt;TXN>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9751" NEWID="4838">
<DATE>13-MAR-1987 10:32:34.19</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0103&#31;reute
u f BC-NORSK-HYDRO-EURODOLLA   03-13 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>NORSK HYDRO EURODOLLAR BOND INCREASED TO 125 MLN</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>The 10-year eurodollar bond issue
launched yesterday for Norsk Hydro at 8-1/4 pct and 101-5/8 pct
has been increased to a total of 125 mln dlrs from the original
100 mln amount, Swiss Bank Corp International said as lead.
    The issue is due on April 9, 1997.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9752" NEWID="4839">
<DATE>13-MAR-1987 10:33:15.71</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;f0107&#31;reute
r f BC-GENERAL-ELECTRIC-&lt;GE>   03-13 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL ELECTRIC &lt;GE> UNIT REDEEMS NOTES</TITLE>
<DATELINE>    STAMFORD, Conn., March 13 - </DATELINE><BODY>General Electric Credit Corp, a
unit of General Electric Co, said it has called for redemption
on April 13, 1987, its 150 mln dlrs 7-5/8 pct notes due 1988.
    The company said the notes' redemption price is 100 pct of
their principal amount plus accrued interest.
    GE Credit said the Bank of New York will be the
redemption's paying agent.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9753" NEWID="4840">
<DATE>13-MAR-1987 10:33:45.54</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>nyse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0112&#31;reute
b f BC-******NYSE,-NYFE-MOVE   03-13 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>NYSE, NYFE MOVE EXPIRATION OF INDEX OPTIONS AND FUTURES CONTRACTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9754" NEWID="4841">
<DATE>13-MAR-1987 10:34:05.76</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;f0113&#31;reute
r f BC-NATIONAL-PIZZA-CO-&lt;PI   03-13 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>NATIONAL PIZZA CO &lt;PIZA> TO ACQUIRE RESTAURANTS</TITLE>
<DATELINE>    PITTSBURGH, March 13 - </DATELINE><BODY>National Pizza Co said it reached an
agreement in principle to buy seven Straw Hat pizza restaurants
and certain related real estate for approximately three mln
dlrs in cash.
    The acquisitions will be converted to Pizza Hut
restaurants, said National Pizza, and are expected to generate
annual sales of approximately eight mln dlrs.
    When the sale is complete, it will bring to 24 the number
of restaurants operated by National Pizza, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9755" NEWID="4842">
<DATE>13-MAR-1987 10:34:40.69</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;f0115&#31;reute
u f BC-BENEFICIAL-&lt;BNL>-DOWN   03-13 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>BENEFICIAL &lt;BNL> DOWNGRADED BY MOODY'S</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>Moody's Investors Service Inc said it
downgraded 3.4 billion dlrs of debt of Beneficial Corp.
    Cut to Baa-2 from Baa-1 were the senior debt of the company
and the guaranteed debt of its unit, Beneficial Overseas
Finance NV.
    Also downgraded were Beneficial's shelf registrations of
senior debt to Provisional Baa-2 from Provisional Baa-1 and of
subordinated debt to Provisional Ba-1 from Provisional Baa-3.
    Moody's said the magnitude of Beneficial's 1986 operating
losses from write-downs of discontinued businesses has weakened
its financial position.
    "The costs of meeting the potential liability for insurance
losses to facilitate the sale of the company's insurance unit
and of revaluing other discontinued business segments have
substantially exceeded original indications," Moody's said in a
release.
    The agency said Beneficial's consumer finance business
remains strong and has the capacity to withstand foreseeable
adverse developments.
    But the withdrawal from nontraditional businesses is
weakening consolidated leverage, narrowing funding operations
and depressing the quality of earnings, Moody's stressed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9756" NEWID="4843">
<DATE>13-MAR-1987 10:35:24.06</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0118&#31;reute
f f BC-******CITICORP-SAYS-P   03-13 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CITICORP SAYS PLACING BRAZIL LOANS ON CASH BASIS COULD CUT 1ST QTR NET BY 50 MLN DLRS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9757" NEWID="4844">
<DATE>13-MAR-1987 10:35:52.16</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f0122&#31;reute
d f BC-MALAYSIA'S-AYER-HITAM   03-13 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>MALAYSIA'S AYER HITAM TO BOOST SHARE CAPITAL</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>Ayer Hitam Tin Dredging Malaysia Bhd
said it planned to raise its authorised share capital to 50 mln
Malaysian dlrs from the present seven mln by adding 43 mln new
shares.
    The firm also said in a statement it will launch a 6.1 mln
dlr bonus issue, to be paid out of unappropriated profit, with
stockholders getting one new share for every existing one. It
said the issue date will be decided later.
    Ayer added that it will not pay a dividend for the half
year ended December 31, 1986 on the new shares.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9758" NEWID="4845">
<DATE>13-MAR-1987 10:36:00.21</DATE>
<TOPICS><D>ship</D></TOPICS>
<PLACES><D>singapore</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T M
&#22;&#22;&#1;f0123&#31;reute
d f BC-SINGAPORE-TO-SPEND-1.   03-13 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>SINGAPORE TO SPEND 1.2 BILLION DLRS ON PORTS</TITLE>
<DATELINE>    SINGAPORE, March 13 - </DATELINE><BODY>The Port of Singapore Authority (PSA)
will spend 1.2 billion dlrs to develop port facilities and
cargo-handling equipment over the next five years,
Communications Minister Yeo Ning Hong told parliament.
    Yeo said the improvements were needed to cope with an
expected growth of ship tonnage and cargo handled by the port,
but gave no further details.
    The PSA handled 529 mln gross-registered tonnes of cargo in
1985, according to the latest available statistics from the
port authority.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9759" NEWID="4846">
<DATE>13-MAR-1987 10:36:40.90</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0126&#31;reute
w f BC-RANGE-ROVER-OF-NORTH   03-13 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>RANGE ROVER OF NORTH AMERICA TO OFFER NEW MODEL</TITLE>
<DATELINE>    WASHINGTON, D.C., March 13 - </DATELINE><BODY>Range Rover of North America
said it will begin to sell in the U.S. its upscale
British-built Range Rover four-wheel drive automobile.
    The company said it is hoping to find a niche at the top of
the American sports/utility market with a price tag of just
over 30,000 dlrs.
    Range Rover of North America is a wholly-owned subsidiary
of the Land Rover group of companies, and is manufactured by
the British company of &lt;Land Rover UK Ltd>, according to the
company.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9760" NEWID="4847">
<DATE>13-MAR-1987 10:38:27.02</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>nyse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F RM
&#22;&#22;&#1;f0134&#31;reute
u f BC-NYSE,-NYFE-MOVE-INDEX   03-13 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>NYSE, NYFE MOVE INDEX FUTURES/OPTIONS EXPIRATION</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>The &lt;New York Stock Exchange> said it
and its &lt;New York Futures Exchange> affiliate will move the
expiration of their respective index options and index futures
contracts to the opening of trading in the underlying stock on
expiration Friday from the close of trading.
    The exchange said it has submitted the changes to the
Securities and Exchange Commission and the Commodity Futures
Trading Commission for approval.
    The exchange said, "The NYSE has long advocated settlement
in the morning rather than at the close of trading as a
practical way to deal with order imbalances and price
volatility which historically occur on triple witching days."
    The "triple witching hour" falls four times a year when
stock options, index options and futures on index options all
expire on the third Friday of every month, leading to major
last-hour market swings.  On the last triple witching Friday,
December 19, the NYSE traded almost 85 mln shares at the close
of the market.  The next triple witching hour will take place
Friday March 20.
    The exchange said, "Morning settlement would expose order
imbalances to the full sunlight of public disclosure, ensure
the broadest dissemination of market information and facilitate
the participation of all interested investors."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9761" NEWID="4848">
<DATE>13-MAR-1987 10:39:05.49</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>uk</D><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F Y
&#22;&#22;&#1;f0138&#31;reute
d f BC-ORS-SEEKS-CANADIAN-FU   03-13 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>ORS SEEKS CANADIAN FUNDS FOR HEAVY OIL TEST</TITLE>
<DATELINE>    TULSA, Okla., March 13 - </DATELINE><BODY>&lt;ORS Corp> said &lt;Dominion
Securities (Alberta) Inc> has been appointed to offer common
shares in a new Canadaina company being organized to exploit
heavy oil production opportunities in Canada and Western
Europe.
    ORS said the offer for private sale of the stock being made
on a best efforts basis is designed to raise five mln Canadian
dlrs which the new company will invest in properties and
projects using the Electromagnetic Well Stimulation Process
developed by IIT Research Institute under sponsorship of ORS.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9762" NEWID="4849">
<DATE>13-MAR-1987 10:42:54.28</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D><D>sierra-leone</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0155&#31;reute
r f BC-WEST-GERMANY-RESCHEDU   03-13 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>WEST GERMANY RESCHEDULES SIERRA LEONE DEBT</TITLE>
<DATELINE>    BONN, March 13 - </DATELINE><BODY>West Germany and Sierra Leone signed an
agreement to reschedule 26 mln marks of principal and interest
payments on loans, the West German Foreign Ministry said.
    A statement said the agreement related to interest and
principle and obligations from previous reschedulings due
between July 1, 1986 and November 13, 1987 as well as arrears
from the period up to June 30, 1986.
    The statement said the payments were rescheduled for 1992
to 1996 under the accord, which followed a multilateral
rescheduling pact agreed by "Paris Club" creditor nations on
November 19, 1986.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9763" NEWID="4850">
<DATE>13-MAR-1987 10:47:32.55</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F RM
&#22;&#22;&#1;f0164&#31;reute
r f BC-CHRYSLER-&lt;C>-UNIT-BUY   03-13 0073</UNKNOWN>
<TEXT>&#2;
<TITLE>CHRYSLER &lt;C> UNIT BUYS BENEFICIAL &lt;BNL> UNIT</TITLE>
<DATELINE>    ALLENTOWN, PA., March 13 - </DATELINE><BODY>Chrysler Corp said its Chrysler
First Inc acquired a major portion of the commercial lending
portfolio of Beneficial Business Credit Corp, a subsidiary of
Beneficial Corp.
    It said the acquisition involves about 84 mln dlrs of net
receivables.
    Chrysler First, a subsidiary of Chrysler Financial Corp,
had receivables of 4.3 billion dlrs at the end of 1986.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9764" NEWID="4851">
<DATE>13-MAR-1987 10:48:02.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0167&#31;reute
r f BC-3COM-CORP-&lt;COMS>-OFFE   03-13 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>3COM CORP &lt;COMS> OFFERS SHARES OF COMMON</TITLE>
<DATELINE>    SANTA CLARA, Calif., March 13 - </DATELINE><BODY>3Com Corp said it is
offering 1.2 mln shares of its common stock for sale at 23.50
per share in a public offering.
    It said the sale is being co-managed by Goldman, Sachs and
Co and Montgomery Securities.
    The company said it granted the underwriters an option to
buy 180,000 shares to cover over-allotments.
    Net proceeds from the sale will be added to the company's
working capital to fund future growth, 3Com said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9765" NEWID="4852">
<DATE>13-MAR-1987 10:50:21.97</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0180&#31;reute
u f BC-VOLKSWAGEN-OF-AMERICA   03-13 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>VOLKSWAGEN OF AMERICA EARLY MARCH SALES RISE</TITLE>
<DATELINE>    TROY, MICH., March 13 - </DATELINE><BODY>Volkswagen of America said its U.S.
car sales for the March 1-10 period rose 4.9 pct to 849 from
809 a year earlier.
    It said there were eight selling days in each period.
    Year to date, Volkswagen said domestic sales declined 42.5
pct to 7,476 from 13,003.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9766" NEWID="4853">
<DATE>13-MAR-1987 10:51:29.79</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0185&#31;reute
d f BC-SHELLER-GLOBE-NAMES-N   03-13 0064</UNKNOWN>
<TEXT>&#2;
<TITLE>SHELLER-GLOBE NAMES NEW PRESIDENT</TITLE>
<DATELINE>    TOLEDO, Ohio, March 13 - </DATELINE><BODY>&lt;Sheller-Globe Corp> said it has
named Alfred Grava president and chief operating officer to
replace James Graham who was granted a medical leave in June,
1986.
    In addition, the company said it named George Berry
executive vice president of the corporation and president,
automotive/truck operations, reporting to Grava.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9767" NEWID="4854">
<DATE>13-MAR-1987 10:53:16.93</DATE>
<TOPICS></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0188&#31;reute
u f BC-ITALIAN-BUSINESS-CONC   03-13 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>ITALIAN BUSINESS CONCERNED OVER POLITICAL CRISIS</TITLE>
<DATELINE>    ROME, March 13 - </DATELINE><BODY>Italian Prime Minister designate Giulio
Andreotti expressed cautious optimism about his chances of
forming a government, amid concern by industrialists that a
lengthy political crisis could cause economic damage.
    Andreotti today wound up his first round of political
consultations aimed at finding a way out of the crisis.
    His Christian Democrats and the Socialists of outgoing
premier Bettino Craxi, whose row caused last week's collapse of
the five-party coalition, remained deeply divided.
    Andreotti said he would spend the weekend considering the
situation before a second round of consultations next week.
    Meanwhile Italy's top industrialists expressed concern that
a long drawn-out crisis, or continuing squabbling between the
five coalition partners, could jeopardise the major economic
progress made in three-and-a-half stable years under Craxi.
    Luigi Lucchini, president of the employers organisation
Confindustria said in a speech yesterday, "What is certain is
that a precarious political situation is damaging to the
economy, to the objectives of companies, to competitivity."
    His remarks were supported by Fiat chairman Giovanni
Agnelli, who said in a radio interview that he hoped for a
reconstruction of the coalition.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9768" NEWID="4855">
<DATE>13-MAR-1987 10:53:41.42</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;f0189&#31;reute
r f BC-LANESBOROUGH-SELLS-SE   03-13 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>LANESBOROUGH SELLS SENIOR SUBORDINATED NOTES</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>Lanesborough Corp is raising 50 mln
dlrs via an offering of senior subordinated notes due 1997 with
a 12-3/8 pct coupon and par pricing, said sole manager First
Boston Corp.
    Non-callable for five years, the debt is rated Caa by
Moody's Investors Service Inc and B-minus by Standard and
Poor's Corp.
    The issue was increased from an initial offering of 40 mln
dlrs because of investor demand for high-yield securities.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9769" NEWID="4856">
<DATE>13-MAR-1987 10:55:26.58</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0194&#31;reute
b f BC-NEW-SOUTH-WALES-TREAS   03-13 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>NEW SOUTH WALES TREASURY CORP LAUNCHES YEN BOND</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>New South Wales Treasury Corp is issuing
15 billion yen of eurobonds due April 15, 1992, priced at
101-5/8, with a 4-7/8 pct coupon, Nikko Securities Co (Europe)
Ltd said as book-runner and joint lead manager with Mitsui
Trust and Banking Co Ltd.
    The issue will be guaranteed by New South Wales and will be
sold in denominations of one mln yen, with listing in
Luxembourg.
    Fees are 1-1/4 pct for selling and 5/8 pct for management
and underwriting combined. Payment date is April 15.
    Co-lead manager is Mitsubishi Finance International Ltd.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9770" NEWID="4857">
<DATE>13-MAR-1987 12:02:51.40</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;f0495&#31;reute
r f BC-SOUTHDOWN-&lt;SDW>-DEBT   03-13 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>SOUTHDOWN &lt;SDW> DEBT DOWNGRADED BY MOODY'S</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>Moody's Investors Service Inc said it
downgraded to Ba-2 from Baa-3 Southdown Inc's 140 mln dlrs of
senior debt.
    The agency also assigned an initial rating of B-1 to the
company's 90 mln dlrs of senior subordinated notes due 1997.
    Moody's said the action reflected increased leverage and
reduced interest resulting from lower earnings. It also cited
Southdown's repurchase of 28 pct of its common stock and the
financing of that transaction by debt.
    Moody's said the lower ratings anticipate certain debt
reduction in the coming year from the sale of assets.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9771" NEWID="4858">
<DATE>13-MAR-1987 12:03:41.29</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0500&#31;reute
d f BC-ELDON'S-&lt;ELD>-HEALTHW   03-13 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>ELDON'S &lt;ELD> HEALTHWAYS IN FINAL SETTLEMENT</TITLE>
<DATELINE>    ISELIN, N.J., March 12 - </DATELINE><BODY>HealthWays Inc, a unit of Eldon
Industries Inc, said it reached a final settlement of the
year-old litigation with Central Jersey Individual Pratice
Association, the Union County Medical Society and individual
physicians.
    On February 2 the company, a health maintenance
organization, said a tentative agreement had been signed under
which all approved outstanding claims to Central Jersey
participating physicians in Middlesex and Union Counties for
services provided before June 30 would be paid.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9772" NEWID="4859">
<DATE>13-MAR-1987 12:03:47.40</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0501&#31;reute
f f BC-******CHRYSLER-EARLY   03-13 0007</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CHRYSLER EARLY MARCH CAR SALES UP 0.4 PCT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9773" NEWID="4860">
<DATE>13-MAR-1987 12:04:13.06</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;f0502&#31;reute
r f BC-U.S.-FARM-LOAN-SECOND   03-13 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. FARM LOAN SECONDARY MARKET GAINS SUPPORT</TITLE>
<AUTHOR>    By Greg McCune, Reuters</AUTHOR>
<DATELINE>    WASHINGTON, MARCH 13 - </DATELINE><BODY>Proposals for a secondary market for
the resale of farm real estate loans similar to home mortgage
markets is gaining support in Congress and among rural lenders
and could be established this year, Congressional and financial
sources said.
    Several bills which would establish a farm secondary market
have been introduced in both the House and Senate. Furthermore,
Representatives of the Farm Credit System, commercial bankers
and life insurance companies are meeting in an attempt to agree
on a method of establishing the market.
    Frank Naylor, chairman of the Farm Credit Administration
(FCA), which regulates the farm credit system, yesterday said a
farm loan secondary market would be positive for agriculture
"as long as the farm credit system is a key player."
    Naylor told a House Agriculture subcommittee hearing the
secondary market could be established either with Congressional
legislation or administratively.
    Any farm loan secondary market would be modeled after the
successful resale markets in home mortgages, the Government
National Mortgage Association (GNMA) and the Federal Home Loan
Mortgage Corporation (Freddie Mac), industry sources said.
    Commercial banks and life insurance companies are the main
supporters of a farm loan secondary market because they believe
it would allow private lenders to compete more effectively in
rural lending with the quasi-government farm credit system,
traditionally the largest lender to farmers.
    A farm secondary market would allow lenders to sell
high-quality loans on farmland to "poolers" who in turn would
package the loans and issue farm mortgage-backed securities for
resale to investors-- called Aggie-mae by some supporters.
    However, the FCA and financially-troubled farm credit
system have in the past been ambivalent about the idea.
    The ambivalence is because any farm secondary market
established in the private sector that excluded the farm credit
system would put the system at a competitive disadvantage. That
could be a financial blow to the system, which has lost 4.6
billion dlrs in two years, Naylor and farm credit system
officials have said.
    A study commissioned by one of the main supporters of the
secondary market idea, the American Council of Life Insurers,
concludes the farm credit system's market share in rural
lending would fall if a secondary market were established. The
study was released earlier today.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9774" NEWID="4861">
<DATE>13-MAR-1987 12:07:04.80</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f0519&#31;reute
b f BC-/WESTINGHOUSE-&lt;WX>-TO   03-13 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>WESTINGHOUSE &lt;WX> TO DESIGN BRITISH NUCLEAR UNIT</TITLE>
<DATELINE>    PITTSBURGH, March 13 - </DATELINE><BODY>Westinghouse Electric Corp said it
will perform work valued in excess of 200 mln dlrs on the
1150-megawatt Sizewell B commercial nuclear power station which
the United Kingdom will build near Suffolk on its southeast
coast.
    Westinghouse said it will design and erect the primary
reactor coolant system, manufacture components and transfer
technology for the power plant which the U.K. government
announced plans for yesterday.
    Westinghouse said its technology for the design of the
pressurized water reactor will be transferred through its
licensee in the United Kingdom, &lt;National Nuclear Corp>.
    The company said Britian's national utility, the Central
Electricity Generating Board, has announced plans to apply for
planning consent for a second pressurized water reactor,
Hinkley C in Somerset, before the end of 1987.
    The board has said it would like to build up to five
pressurized water reactors before the end of the century,
Westinghouse added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9775" NEWID="4862">
<DATE>13-MAR-1987 12:08:55.01</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0528&#31;reute
b f BC-******UAL-INC-FILES-F   03-13 0009</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>UAL INC FILES FOR FIVE MLN COMMON SHARE OFFERING
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9776" NEWID="4863">
<DATE>13-MAR-1987 12:09:17.25</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;f0529&#31;reute
b f BC-SALOMON-INC-&lt;SB>-SAID   03-13 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>SALOMON INC &lt;SB> SAID TO CUT U.S. BANKS RATINGS</TITLE>
<DATELINE>    NEW YORK, MARCH 13 - </DATELINE><BODY>Salomon Inc has lowered its investment
ratings on all U.S. money center banks, institutional sources
said.
    The sources said Salomon believes that other money center
banks may feel compelled to follow Citicorp's &lt;CCI> lead
in its filing with the Securities and Exchange Commission
relating to its loan exposure to Brazil.
    They also said Salomon believes that other banks may
strongly consider the possibility of placing Brazilian loans on
a non-accruing status with the consequent negative impact on
earnings.
    The sources said the ratings were lowered to M from O-plus.
The stock are now expected to match the Standard and Poor's 500
Index, rather than outperform the index as previously expected.
    The sources said it is also understood that the change in
the coding of these stocks should definitely not be taken as a
sell-recommendation because Salomon is said to believe that its
downgrading will only prove temporary.
    The banks affected by the change in investment coding are
Bank of New York Co Inc &lt;BK>, Bankers Trust Co &lt;BT>, Chase
Manhattan Corp &lt;CMB>, Chemical New York Corp &lt;CHL>, Citicorp
&lt;CCI>, Irving Bank Corp &lt;V>, Manufacturers Hanover Corp &lt;MHC>,
J.P. Morgan and Co Inc &lt;JPM>, Marine Midland Banks Inc &lt;MM>,
Republic New York Corp &lt;RNB>, Bank of Boston Corp &lt;BKB> and
First Chicago Corp &lt;FNB>.
    The institutional sources said that Thomas Hanley, a
director of Salomon Inc subsidiary Salomon Brothers who is in
charge of bank stock research, believes Citicorp's move is
well-timed.
    Should Citicorp actually place the Brazilian loans in a
non-performing category at the end of this quarter this action
would serve to alleviate the urgency associated with the debt
negotiations, he argues.
    Thus Citicorp's bargaining position would appear to have
been much enhanced.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9777" NEWID="4864">
<DATE>13-MAR-1987 12:09:52.23</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0532&#31;reute
r f BC-FRN-PANIC-INITIATED,   03-13 0120</UNKNOWN>
<TEXT>&#2;
<TITLE>FRN PANIC INITIATED, EXACERBATED BY MARKET MAKERS</TITLE>
<AUTHOR>    By Norma Cohen and Dominique Jackson, Reuters</AUTHOR>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>Today's panic in the floating rate note
market has been simmering for months and is, in many ways, of
the market makers' own doing, traders and bank officials said.
    "For the last six months, there have been a series of crises
in the FRN market. Each has cut deeper and deeper into the very
fibre of the market," said a senior official at a U.S. Bank.
    As prices have fallen, he explained, the underwriters who
originally brought the issues have retreated. They have
divested themselves of the paper as quickly as possible,
unwilling to bear losses of the magnitude seen in recent panic
trading.
    In the virtual effective closure of the market for
perpetual floaters last month, bankers witnessed the
consequences of this kind of contraction of liquidity and
investor confidence.
    Fears were engendered about the possibility of this crisis
infecting the market in conventional dated FRN issues, which is
almost 10 times as large as that for perpetuals, with an
estimated 130 billion dlrs of debt outstanding.
    "The professionals are so nervous about holding inventory
that they will sell at any price," said an official at a leading
U.S. Bank, explaining the panic selling which has pushed prices
down sharply over the last two days.
    Bankers and FRN traders emphasised that today's trading was
unique in that it was driven exclusively by professionals and
that there was nothing fundamentally wrong with the securities
they sold.
    In highlighting this point, dealers noted that the
benchmark issues in the FRN market -- the two FRN's for the
U.K., Launched in 1985 and 1986 -- fell an unprecedented 50 and
40 basis points, respectively, at the opening this morning.
    Certainly, dealers said, Britain is no less credit-worthy
today than it was yesterday and the country's economic health
currently appears better than it has for some time.
    Pointing out that this kind of sovereign and supra-national
debt had not sagged on any fundamental weakness, one senior FRN
source said: "The idiocy of the situation is aptly shown by the
fact that these kind of borrowers can now tap the syndicated
loan markets at rates lower than their floaters currently pay."
    Dealers agreed that banking sector paper, which constitutes
a significant part of the market, was currently under pressure.
    Floating rate debt of major U.S. And Canadian banks eased
markedly in nervous trading last month on renewed investor
fears about the banks' exposure to Latin American debt.
    The U.S. And Canadian money centre bank FRNs, along with
Republic of Ireland paper, were hard hit again this week with
dealers citing one heavily-traded Citicorp note falling to
levels so low it is now effectively yielding 55 basis points
over Libor (the London Interbank Offered Rate).
    By comparison, the 500 mln dlr note which matures in 1998
yielded only a fine 20 basis point over Libid (the London
Interbank Bid Rate) when it was issued in January last year.
    Price declines of this size can really only be explained by
an understanding of the operating practices of leading players
in the market, dealers and banking analysts said.
    "This has to be understood as a matter between banks who
have a brief to buy low and sell high," one U.S. Bank source
noted.
    Another senior source at a U.K. Bank drew attention to the
enormous overhead costs and high salaries generated over the
last few years in the FRN market, which have to be justified.
    But even beyond the cost of running an FRN trading desk,
dealers said, is the way the securities are bought and sold.
    Although sophisticated on-screen dealing exists in most
markets, in the euro-markets trading is conducted by telephone.
    "If somebody calls you up and asks you to make him a price
in any issue, and you do, he can say "Right. You own five mln',"
a trader said, explaining market practice.
    The unfortunate buyer is then forced to unload the
securities just minutes later to yet another firm at an even
lower price, the trader explained.
    It is precisely this phenomenon that forced the rapid
downward price spiral earlier today, traders said, adding that
it is likely to continue until the markets either regain their
confidence or market practices change.
    One possible solution, dealers said, would be to initiate
trading exclusively through brokers' screens, so that only
those who wanted to buy bonds would have to "lift a bid" or buy
at that price.
    Meanwhile, bank regulators are apparently concerned about
the implications of the collapse in FRN prices.
    Traders in London said that the Bank of England has called
around to market makers asking whether they intended to
continue trading and what they calculated the losses to be.
    The Bank often makes periodic checks in the market, but
dealers said the latest enquiries were more specific.
    A spokesman for the Bank of England was not able to comment
immediately on the Bank's action.
    One trader at a major U.S. Bank here said that in addition,
the Federal Reserve Bank of New York's international capital
markets unit has phoned banks in London today seeking
information about trading in FRN's. He also said that this was
not an unusual procedure.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9778" NEWID="4865">
<DATE>13-MAR-1987 12:12:39.57</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0548&#31;reute
f f BC-******GENERAL-MOTORS   03-13 0009</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>GENERAL MOTORS EARLY MARCH CAR SALES OFF 8.2 PCT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9779" NEWID="4866">
<DATE>13-MAR-1987 12:14:33.69</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>nyse</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f0561&#31;reute
r f BC-NYSE,-NYFE-MOVE-INDEX   03-13 0123</UNKNOWN>
<TEXT>&#2;
<TITLE>NYSE, NYFE MOVE INDEX FUTURES/OPTIONS EXPIRATION</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>The New York Stock Exchange said it
and its New York Futures Exchange affiliate will move the
expiration of their respective index options and index futures
contracts to the opening of trading in the underlying stock on
each expiration Friday from the close of trading.
    The exchange said it has submitted the changes to the
Securities and Exchange Commission and the Commodity Futures
Trading Commission for approval.
    The exchange said, "The NYSE has long advocated settlement
in the morning rather than at the close of trading as a
practical way to deal with order imbalances and price
volatility which historically occur on so-called "triple
witching days."
    The triple witching hour falls four times a year when
individual stock options, stock index futures and options on
stock indexes all expire on the third Friday of the month,
which has led to volatile last-hour market swings.
    On the last triple witching Friday, December 19, the NYSE
traded almost 85 mln shares at the close of the market. The
next triple witching hour will take place Friday, March 20.
    The exchange said, "Morning settlement would expose order
imbalances to the full sunlight of public disclosure, ensure
the broadest dissemination of market information, and
facilitate the participation of all interested investors."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9780" NEWID="4867">
<DATE>13-MAR-1987 12:15:45.44</DATE>
<TOPICS><D>crude</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;f0569&#31;reute
u f BC-PETROBRAS-ASKS-ARMY-T   03-13 0128</UNKNOWN>
<TEXT>&#2;
<TITLE>PETROBRAS ASKS ARMY TO WITHDRAW TROOPS</TITLE>
<DATELINE>    RIO DE JANEIRO, MARCH 13 - </DATELINE><BODY>Brazil's state-oil company
Petrobras has asked the Army to withdraw the troops which were
occupying its oil installations since Tuesday, Petrobras said
in a statement.
    The statement said the request for the withdrawal of the
troops was made because of the calmness reigning in all of its
refineries.
    "The request was also due to the end of the seamen's strike
and the willingness of the oil industry workers to sit again by
the negotiating table," the statement said.
    Even though the Petrobras statement said the seamen's
strike was over, a union spokesman said only two small shipping
companies had reached a pay agreement. The overwhelming
majority of Brazil's seamen remained on strike.
    The statement said a meeting between Petrobras and oil
industry leaders was set for next Wednesday in Rio, with the
presence of Labour Minister Almir Pazzionotto as a mediator.
    Petrobras said the request for the withdrawal of the troops
was made at 1100 local hours (1400 GMT), but a company
spokesman said he did not know if the troops had already been
removed.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9781" NEWID="4868">
<DATE>13-MAR-1987 12:16:42.16</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y F
&#22;&#22;&#1;f0576&#31;reute
d f AM-COURT-LIBEL   03-13 0134</UNKNOWN>
<TEXT>&#2;
<TITLE>COURT VACATES LIBEL AWARD IN MOBIL CASE</TITLE>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>A U.S. appeals court threw out a two
mln dlr libel award against The Washington Post for an article
that said former Mobil Corp president William Tavoulareas set
up his son in a shipping firm that did business with Mobil.
    The article said Tavoulareas had used his influence to set
up his son, Peter, in 1974 as a partner in the London-based
Atlas Maritime Co, a shipping company whose business included a
multi-million dollar contract with Mobil.
    "We are convinced that ... the 'set up' allegation was
substantially true," the appeals court said in the 7-1 ruling.
    The Tavoulareases said the 1979 article by the Post's
investigative reporter, Patrick Tyler, was false and that it
embarrassed them and held them up to ridicule.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9782" NEWID="4869">
<DATE>13-MAR-1987 12:16:57.25</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0578&#31;reute
b f BC-/CHRYSLER-&lt;C>-EARLY-M   03-13 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>CHRYSLER &lt;C> EARLY MARCH CAR SALES UP 0.4 PCT</TITLE>
<DATELINE>    DETROIT, March 13 - </DATELINE><BODY>Chrysler Corp said its early March
retail sales of domestic-built cars rose 0.4 pct to 25,286 from
25,191 a year ago.
    Chrysler said truck sales in the March 1-10 period rose 15
pct to 15,565 from 13,585 a year ago to the highest level ever
for the period.
    There were eight selling days in each period.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9783" NEWID="4870">
<DATE>13-MAR-1987 12:17:38.62</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0583&#31;reute
r f BC-GCA-&lt;GCA>-SHAREHOLDER   03-13 0107</UNKNOWN>
<TEXT>&#2;
<TITLE>GCA &lt;GCA> SHAREHOLDERS APPROVE RESTRUCTURING</TITLE>
<DATELINE>    ANDOVER, Mass., March 13 - </DATELINE><BODY>GCA Corp said its shareholders
approved a restructuring plan to raise 72 mln dlrs in equity
for the troubled maker of semiconductor production systems.
    GCA said 90 pct of the shareholders voting at a special
meeting yesterday approved the restructuring.
    The plan calls for GCA to raise 48 mln dlrs through a
rights offering and 24 mln dlrs through the sale of stock to
joint venture partners.
    GCA said the rights will be mailed March 17 to shareholders
of record March 16 and will expire at 1600 EST April 6. The
plan should be closed by April 30, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9784" NEWID="4871">
<DATE>13-MAR-1987 12:18:35.74</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0586&#31;reute
d f BC-PROPOSALS-TO-RELAX-U.   03-13 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>PROPOSALS TO RELAX U.S. DRUG LAWS POSE PROBLEMS</TITLE>
<AUTHOR>    By Marjorie Shaffer, Reuters</AUTHOR>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>The Reagan Administration's soon-to-be
published proposals to make experimental therapies more rapidly
and widely available to terminally ill patients pose product
liability problems for drug companies, experts in the
pharmaceutical field said.
    Details of the proposals will be published in the Federal
Register shortly and will become effective after a 90-day
comment period.
    Under the proposed policy, announced Tuesday by
Commissioner of Food and Drugs Frank E. Young at a press
conference, patients with life threatening diseases who are not
enrolled in clinical trials would be allowed access to an
experimental therapy. The policy also allows drug companies to
sell the promising drugs to patients.
    Previously drugs like AZT could be rushed into wider use
free-of-charge if the agent was shown to be effective. Under
the new policy, the FDA could only refuse to permit a physician
to administer an experimental drug if it was shown to be
unsafe.
    Financial analysts said the plan would likely benefit
biotechnology companies with few or no products approved for
marketing in the U.S., but would have little economic impact on
large drug companies with many other sources of revenue.
    "Charging a fee for still experimental drugs could help
biotech companies' near-term financial situation and help make
them less dependent on outside sources," said Teena Lerner, a
biotech analyst at L.F. Rothchild.
    Other observers were concerned that drug companies would be
put into a legal bind if promising drugs later proved to have
devastating side effects.
    "Before a lot of drug companies release these drugs they
are going to have to think long and hard about liability--the
product liability problems are enormous," said a
Washington-based lawyer who specializes in the drug field.
    Patients in clinical trials normally sign lengthy informed
consent papers before taking an investigational drug. The
lawyer said no more than two cases had gone to trial for suits
against a drug company's investigational drug.
    "The new proposals are a whole new kettle of fish," said
the lawyer. "Drug companies are right now probably meeting with
their insurance companies."
    Burroughs-Wellcome Co, the U.S. arm of the British firm
Wellcome PLC that makes AZT, Merck and Co Inc &lt;MRK>,
Hoffman-LaRoche Inc and SmithKline Beckman Corp &lt;SKB> said it
was too soon to comment on the policy.
    "I'm very uncomforable with this," said Wellcome
spokeswoman Kathy Bartlett. "We haven't had a chance to
formulate a response yet. It's too early."
    But some financial analysts say the proposals would benefit
drug companies.
    "I find the proposal to be a very significant alteration of
the FDA's past policies that should positively affect (drug
companies') stocks," said drug analyst Davis Saks, with Morgan,
Olmstead, Kennedy and Gardner.
    Saks also warned that many health care providers would balk
at the proposal, and would call it "amoral" to charge patients
with life-threatening diseases for drugs that otherwise would
be given out for free in clinical trials.
    Jeffrey Warren, spokesman for the Pharmaceutical
Manufacturers Association, which represents the major drug
firms in the U.S., said "A mechanism already exists at the FDA
permitting certain seriously ill patients access to
experimental drugs and perhaps that system can be approved."
    Warren acknowledged that the PMA may not be able to come up
with a consensus among its membership when the rules are
formally published.
    He also admitted that product liability problems could be a
concern to major drug companies.
    Jeffrey Levi, executive director of the National Gay and
Lesbian Task Force, which is actively in AIDS policy and
funding issues, cited the drug Suramin from Bayer AG &lt;BAYRY>,
which had shown early promise as an AIDS treatment, but on
wider clinical testing was shown to have deadly side effects.


 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9785" NEWID="4872">
<DATE>13-MAR-1987 12:18:44.43</DATE>
<TOPICS></TOPICS>
<PLACES><D>switzerland</D><D>usa</D><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0587&#31;reute
u f BC-SWISS-WARY-OF-U.S.-BR   03-13 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>SWISS WARY OF U.S.-BRITISH BANK SUPERVISION PACT</TITLE>
<DATELINE>    ZURICH, March 13 - </DATELINE><BODY>Markus Lusser, vice-president of the
Swiss National Bank, said he was sceptical of the recent
U.S.-British accord on joint bank supervision, fearing smaller
countries could be forced to cooperate.
    In a speech prepared for delivery to a meeting of West
German savings banks, he said such an accord would cover the
three most important financial centres of the world if extended
to Japan as planned.
    "Countries not prepared to cooperate with an agreement of
the group of three could easily be put under pressure," Lusser
said.
    "It would be enough to forbid banks the right to make use of
those financial markets or to place them under a special
status," he added.
    Banks which operate worldwide could scarcely afford to stay
away from these centres and would place their national
governments under pressure to conform.
    Lusser added that he was opposed to the form, though not
the content of the accord. Switzerland itself was not affected,
since capital adequacy requirements here were already stricter
than in Britain or the United States. But he feared such
accords might be substituted for internationally negotiated
pacts.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9786" NEWID="4873">
<DATE>13-MAR-1987 12:20:31.88</DATE>
<TOPICS></TOPICS>
<PLACES><D>west-germany</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A
&#22;&#22;&#1;f0596&#31;reute
d f BC-GERMAN-SECURITIES-MAY   03-13 0116</UNKNOWN>
<TEXT>&#2;
<TITLE>GERMAN SECURITIES MAY BE COUNTED IN LENDING RATIOS</TITLE>
<DATELINE>    FRANKFURT, March 13 - </DATELINE><BODY>West German banking authorities are
considering requiring German banks to bring securities holdings
into lending ratio calculations used to regulate credit risk,
banking sources said.
    The present interpretation of the credit law limits banks'
maximum lending to 18 times eligible capital -- reserves plus
equity capital -- but sets no restraints on securities
holdings.
    Under new provisions, weightings would be attached to
securities similar to those used for lending. Weightings would
range from a zero rating for no-risk assets to 100 pct of total
asset value for what authorities consider the highest risk.
    Low-risk securities carrying a zero rating would include
public authority bonds for the federal government, states and
municipalities, the sources said.
    A 20 pct rating would be assigned to issues of domestic
banks. Secured bonds of mortgage, shipping and public authority
banks would be an exception to this, via such securities as
mortgage and municipal bonds.
    Securities issued by foreign banks would attract a
weighting of 50 pct, while authorities are considering
requiring banks to include 100 pct of the value of debt assets
of foreign issuers, including sovereign borrowers.
    The sources said the revision is still being discussed, and
required approval by the federal Banking Supervisory Office in
West Berlin, the Bundesbank, and West Germany's four banking
associations.
    The move is a response to the increasing securitisation of
debt markets, they added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9787" NEWID="4874">
<DATE>13-MAR-1987 12:25:42.95</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F RM
&#22;&#22;&#1;f0609&#31;reute
r f BC-CNW-&lt;CNW>-SELLS-BONDS   03-13 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>CNW &lt;CNW> SELLS BONDS</TITLE>
<DATELINE>    CHICAGO, March 13 - </DATELINE><BODY>CNW Corp said its Chicago and North
Western Transportation Co sold 25 mln dlrs of consolidated
mortgage 9.93 pct bonds, series C, due 1992, in a private
placement.
    Morgan Stanley and Co Inc was the placement agent. The
bonds were sold yesterday.
    Proceeds of the bond sale will be used for general
corporate purposes.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9788" NEWID="4875">
<DATE>13-MAR-1987 12:26:42.29</DATE>
<TOPICS></TOPICS>
<PLACES><D>iran</D><D>france</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0613&#31;reute
u f BC-PROGRESS-IN-IRAN-LOAN   03-13 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>PROGRESS IN IRAN LOAN TALKS, FRENCH OFFICIAL SAYS</TITLE>
<DATELINE>    PARIS, March 13 - </DATELINE><BODY>Talks between France and Iran on the
repayment of a one billion dlr loan by the late Shah have made
progress, Roland Dumas, head of a parliamentary Foreign Affairs
Committee said.
    "They are progressing as far as I have heard," Dumas told
reporters. "The two delegations appear to be near an agreement
on the figures."
    Dumas, a close aide to President Francois Mitterrand,
earlier this week met Iranian Charge d'Affaires in Paris
Haddadi Gholam-reza.
    The report of progress contrasts with official French
statements last month after talks between Deputy Iranian
Finance Minister Mehdi Navvab and the French Finance Ministry.
    The talks, the latest round in long-running negotiations
between the two countries, were said to have led to little
progress on the loan repayment issue.
    France made a first repayment of 330 mln dlrs last
November. Since then negotiatiors have shuttled between Tehran
and Paris for talks which France hopes will help secure freedom
for hostages held by pro-Iranian groups in Lebanon.
    Iran is claiming full repayment of principal and interest
on the Shah's loan, made in 1975 to the EURODIF uranium
enrichment consortium. It has also asked France to curb the
activities of Iranian dissidents in France and stop selling
weapons to Iraq, its enemy in the Gulf War.
    France for its part has made a counter claim for more than
500 mln dlrs in compensation for contracts with French firms
broken after the 1979 revolution.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9789" NEWID="4876">
<DATE>13-MAR-1987 12:27:54.63</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;f0623&#31;reute
d f BC-DUFF/PHELPS-CHANGES-B   03-13 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>DUFF/PHELPS CHANGES BAKER&lt;BKO>, HUGHES&lt;HT> DEBT</TITLE>
<DATELINE>    CHICAGO, March 13 - </DATELINE><BODY>Duff and Phelps said it changed the
ratings on outstanding senior debt of Baker International Corp
and Hughes Tool Company.
    The change affects 515 mln dlrs in debt and assumes a
merger of the two companies will be completed.
    Baker's senior debt was downgraded to DP-8 (high BBB) from
DP-7 (low A).
    Hughes senior debt was raised to DP-8 from DP-12 (middle
BB) while subordinated debt was raised to DP-9 (middle BBB)
from DP-14 (high B).
    The debt ratio of the combined compaies will be about 40
pct but available cash plus proceeds from the sale of assets
will permit a prompt reduction in debt, Duff and Phelps said.
    However, fixed charge coverages will remain very thin until
the company's markets improve, D and P said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9790" NEWID="4877">
<DATE>13-MAR-1987 12:28:07.54</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0624&#31;reute
r f BC-ZENITH-&lt;ZEN>-GETS-APP   03-13 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>ZENITH &lt;ZEN> GETS APPROVAL FOR GENERIC KEFLEX</TITLE>
<DATELINE>    RAMSEY, New Jersey, March 13 - </DATELINE><BODY>Zenith Laboratories Inc said
it received Food and Drug Administration approval to market
Cephalexin, an antibiotic that is the generic version of Eli
Lilly Inc's &lt;LLY> Keflex.
    Generic drugs are low-cost copies of brand name drugs that
have lost their patents. Keflex's patent expires April 21.
Analysts said four generic drug companies, including Zenith,
will have approval to market generic Keflex this year.
    Analysts said Keflex is Lilly's second leading drug
product, with 1986 worldwide sales of about 335 mln dlrs. In
1986 Lilly had sales of 3.7 billion dlrs.
    "We think that in the first year that it loses its patent,
U.S. sales of Keflex will drop to about 240 mln dlrs from 280
mln dlrs," said Joe Riccardo, associate director of Bear
Stearns.
    Riccardo said Lilly would offset the loss with sales from
Humatrope, a genetically engineered human growth hormone
recently approved for marketing in the U.S.
    He also said it was likely that Lilly would get U.S. FDA
marketing approval this year for Prozac, a drug for treating
clinical depression that also shows promise in weight
reduction.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9791" NEWID="4878">
<DATE>13-MAR-1987 12:28:35.62</DATE>
<TOPICS></TOPICS>
<PLACES><D>canada</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E F A RM
&#22;&#22;&#1;f0625&#31;reute
r f BC-TALKING-POINT/DOME-PE   03-13 0105</UNKNOWN>
<TEXT>&#2;
<TITLE>TALKING POINT/DOME PETROLEUM &lt;DMP></TITLE>
<AUTHOR>    By Larry Welsh, Reuters</AUTHOR>
<DATELINE>    TORONTO, March 13 - </DATELINE><BODY>Dome Petroleum Ltd's revised debt
restructuring plan keeps the company alive and improves its
appeal as a takeover target, but full debt repayment depends on
a sharp oil price rise, oil and banking analysts said.
    Dome's complex proposal to let creditors link some or all
of their debt to oil-indexed debentures or convert it to equity
is "very cut and dried and to the point," Peters and Co Ltd
Calgary-based energy analyst Wilf Gobert said.
    Dome "is saying, This is the way it is. There isn't enough
money to pay you back,'" he added.
    The plan "strikes me as a very pragmatic thing to do,"
First Marathon Securities Ltd oil analyst Jim Doak commented.
    He said the plan seeks to formally tie payments to
creditors with the price of oil, which governs Dome's cash flow
and ability to service its debt.
    Dome expects its total debt to reach 6.4 billion Canadian
dlrs by June 30, 1987, when an interim debt rescheduling plan
expires and Dome hopes to implement the long term plan.
    Gobert said the plan would rank secured and unsecured
creditors in a complex series of repayment categories or "an
agreed pecking order of what your (creditors) claim to assets
is."
    Potential suitors would find Dome easier to swallow under
the debt restructuring plan because it proposes to resolve
competing claims on assets pledged to secured creditors and on
remaining unpledged assets, Gobert and others said.
    "Certainly the restructuring plan, once it's agreed to and
put in place, is going to make it easier for someone to come in
and look at doing a deal on it (acquiring the company)," Gobert
remarked.
    "It's going to be a lot easier than it is right now because
you'll have settled the pecking order question," he added.
    Gobert believes the debt plan may be partly motivated by a
desire to sell Dome Petroleum as a whole.
    "If the creditors wanted to liquidate their bank loans they
could do it in an orderly fashion through the sale of the
company, as opposed to dismemberment," he said.
    Dome's proposal includes rescheduling secured debt payments
over a 15 to 20 year schedule, linking payments to cash flows
generated by assets pledged against loans and establishing
interest rates that allow for changing oil prices.
    Creditors' only real alternative to Dome's plan is "an
asset grab which would liquidate the company at distress
prices, and the banks would spend the next 20 years in court
deciding who had what asset," First Marathon's Doak said.
    For Dome's creditors, the plan does not offer a quick
method to recover loans, but extends payment time in the hope
that oil prices will rise, increasing the amount of the
company's debt payments, Merrill Lynch Canada Inc bank analyst
Terry Shaunessy said.
    The plan "is not a solution. It says give me more time and
let's keep our fingers crossed that oil goes way up."
    Doak and Shaunessy estimated oil prices would have to rise
to about 28 to 30 U.S. dlrs a barrel to fully service all of
the company's debt.
    Analysts said the plan would ensure the company continues
to operate, but provides little other benefit to common
shareholders.
    "From a common shareholder standpoint, all this does is
sort of keep him on the life support system, because there
isn't any equity unless you get a big increase in oil prices,"
Gobert remarked.
    Analysts said Dome's common shares, trading today at 1.12
dlrs, off four cents, on the Toronto Stock Exchange,
essentially represent a long term warrant pegged to oil prices.
    "You have to be looking at an extremely high price of oil
in the context of historical trends before there's any residual
value for the common shareholders," analyst Doak said.
    While Dome's plan said lenders will be able to convert debt
to common shares, the amount of dilution depends on share
conversion prices still to be negotiated and how much lenders
would choose to convert, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9792" NEWID="4879">
<DATE>13-MAR-1987 12:31:07.25</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0635&#31;reute
u f BC-/GENERAL-MOTORS-&lt;GM>   03-13 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL MOTORS &lt;GM> EARLY MARCH CAR SALES FALL</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>General Motors Corp said car sales in
the early March period declined 8.2 pct to 99,882 units from
108,850 a year ago.
    It said the figures include sales of Sprints and Spectrums.
There were eight selling days in the period both this year and
last.
    The company said truck sales in the period rose 14.4 pct to
40,131 units from 35,081 a year ago.
    In the year-to-date period, car sales declined 26.6 pct to
629,088 units from 856,969 a year ago. Truck sales declined 9.7
pct to 247,372 units from 274,036 a year ago.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9793" NEWID="4880">
<DATE>13-MAR-1987 12:31:37.54</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0638&#31;reute
f f BC-Midland-says-Greenwel   03-13 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>MIDLAND SAYS GREENWELL MONTAGU SECURITIES TO PULL OUT OF EQUITY MARKET MAKING
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9794" NEWID="4881">
<DATE>13-MAR-1987 12:34:21.18</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES><D>italy</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0655&#31;reute
u f BC-ITALIAN-INTERBANK-RAT   03-13 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>ITALIAN INTERBANK RATE RISES IN FEBRUARY</TITLE>
<DATELINE>    ROME, March 13, Reuter - </DATELINE><BODY>Italy's average interbank rate
rose to a provisional 12.18 pct in February from 12.05 pct in
January, figures from the Bank of Italy show.
    Weighted average rate on bank lending was a provisional
13.78 pct in February compared with 13.83 in January, while
average weighted rate paid on deposits eased a provisional 7.49
pct from 7.66 pct.
    Italy today announced that its official discount rate would
be cut to 11.5 pct from 12 pct effective tomorrow.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9795" NEWID="4882">
<DATE>13-MAR-1987 12:37:23.91</DATE>
<TOPICS><D>money-fx</D><D>dlr</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE><D>yeutter</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V RM
&#22;&#22;&#1;f0675&#31;reute
b f BC-/YEUTTER-SAYS-DLR-LEV   03-13 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>YEUTTER SAYS DLR LEVEL BASED ON ECONOMIC POLICY</TITLE>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>U.S. Trade Representative Clayton
Yeutter said that whether the exchange rate of the dollar would
fall or rise in the coming decade would depend on nations'
financial, monetary and tax policies.
    But, he said, in a speech and remarks to the Heritage
Foundation, that in the end "the marketplace will ultimately
rule the day."
    Asked about the future of the dollar, he said that whether
or not it would rise or fall depended on economic policies and
coooperation among trading nations.
    Yeutter said "if nations do the right kinds of things in
financial, monetary and tax policies, then a lesser burden of
adjustment is placed on exchange rates, and one could envision
a situation of the major trading nations moving back far closer
to what most of us would consider equilibrium and exchange
rates becoming relatively stable."
    But he said, on the other hand, that if nations did not
exhibit greater self discipline and international cooperation,
"It is simply inevitable that the exchange rates will make that
adjustment."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9796" NEWID="4883">
<DATE>13-MAR-1987 12:37:34.33</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>liffe</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0676&#31;reute
u f BC-LIFFE-EXECUTIVE-GREET   03-13 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>LIFFE EXECUTIVE GREETS SEC MOVE ON FUTURES TRADE</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>A decision by the U.S. Securities and
Exchange Commission to remove a key regulatory obstacle to
trading foreign debt futures on U.S. Exchanges was a
constructive development, London International Financial
Futures Exchange (LIFFE) Chief Executive Michael Jenkins said.
    The SEC yesterday agreed to remove the regulation against
trading futures in designated foreign government debt
securities on markets not located in the issuing country.
    Jenkins said the decision cleared the way for the Chicago
Board of Trade possibly to trade U.K. Long gilt futures and a
Japanese yen bond contract.
    The CBOT is now likely to proceed with an application to
trade gilts to the Commodity Futures Trading Commmission
(CFTC), he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9797" NEWID="4884">
<DATE>13-MAR-1987 12:38:02.03</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;f0679&#31;reute
r f BC-METEX   03-13 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>PAINT COMPANY HAS METEX&lt;MTX> STAKE, MAY BUY MORE</TITLE>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>Metropolitan Consolidated Industries
Inc, a New York paint company, said it has acquired 278,709
shares of Metex Corp, or 21.2 pct of the total, and left open
the possibility that it might acquire more through a merger.
    In a filing with the Securities and Exchange Commission,
Metropolitan said it bought the Metex stock as an investment.
    It also said it may buy additional shares, or sell some or
all of its current stake. If it buys more shares, Metropolitan
said it would consider doing so in the open market, in private
deals, or through an exchange offer, tender offer or merger.
    Metropolitan said it may acquire an option on or may buy
some or all of the Metex shares owned by William Hack, a Metex
director, who, together with this wife, holds 149,750 of the
company's common shares, or 11.4 pct of the total.
    Metropolitan said it already has an option to buy another
42,750 Metex common shares at 11.25 dlrs each. The option is
not exercisable until April 12, 1988, it said.
    If Metropolitan were to exercise the option and acquire all
of Hack's stake, it would have 471,208 Metex common shares, or
35.9 pct of the total. Metropolitan's SEC filing was
made as a shareholder group with Hack.
    Metropolitan, which said it spent 3.1 mln dlrs to acquire
its Metex stake, listed its recent stock purchases as 54,993
common shares on March 67 at 10 dlrs each and 83,916 shares on
March 11 at 11.25 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9798" NEWID="4885">
<DATE>13-MAR-1987 12:38:08.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0680&#31;reute
r f BC-CNW-&lt;CNW>-MAKES-PRIVA   03-13 0059</UNKNOWN>
<TEXT>&#2;
<TITLE>CNW &lt;CNW> MAKES PRIVATE BOND PLACEMENT</TITLE>
<DATELINE>    CHICAGO, March 13 - </DATELINE><BODY>CNW Corp said its subsidiary, Chicago
and North Western Transportation Co, sold in a private
placement 25 mln dlrs of Consolidated Mortgage 9.9 pct Bonds,
Series C, due 1992.
    It said Morgan Stanley and Co Inc acted as placement agent.
Proceeds will be used for general corporate purposes.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9799" NEWID="4886">
<DATE>13-MAR-1987 12:38:40.85</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0683&#31;reute
d f BC-WALKER-&lt;WTEL>-TO-DISC   03-13 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>WALKER &lt;WTEL> TO DISCONTINE MOBILE OPERATIONS</TITLE>
<DATELINE>    HAUPPAUGE, N.Y., March 13 - </DATELINE><BODY>Walker Telecommunications Corp
said the company has decided to discontinue operations of its
Mobile Communications Division which will result in a one-time
substantial loss for the fourth quarter and year.
    For the fourth quarter and year ended December 31, 1985
Walker reported a net loss of 17,000 dlrs and net income of
175,000, respectively.
    Walker said retail prices for mobile cellular telephones
have declined dramatically to point where the company no longer
believes that it can profitably participate in the market.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9800" NEWID="4887">
<DATE>13-MAR-1987 12:39:39.44</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;f0690&#31;reute
d f BC-BPI-SYSTEMS-&lt;BPII>-IN   03-13 0069</UNKNOWN>
<TEXT>&#2;
<TITLE>BPI SYSTEMS &lt;BPII> IN TALKS TO SELL COMPANY</TITLE>
<DATELINE>    AUSTIN, Texas, March 13 - </DATELINE><BODY>BPI Systems Inc said it is
holding discussions that could lead to the sale of all its
outstanding shares for about 12 mln dlrs.
    BPI president and chief executive officer David R. Fernald
declined to identify the other party involved in the talks.
    For the nine months ended December 31, BPI lost 1,286,000
dlrs on sales of 6,452,000 dlrs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9801" NEWID="4888">
<DATE>13-MAR-1987 12:39:45.64</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;f0691&#31;reute
d f BC-GALAXY-CABLEVISION-&lt;G   03-13 0062</UNKNOWN>
<TEXT>&#2;
<TITLE>GALAXY CABLEVISION &lt;GTV> BEGINS AMEX TRADING</TITLE>
<DATELINE>    NEW YORK, March 12 - </DATELINE><BODY>The American Stock Exchange said
2,150,000 limited partnership units of newly formed Galaxy
Cablevision LP began trading today.
    It said the partnership, based in Sikeston, Mo., will buy
and operate cable television systems in six states.
    Trading opened on 3,000 units at 20-3/8, the AMEX said.

 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9802" NEWID="4889">
<DATE>13-MAR-1987 12:41:13.08</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0698&#31;reute
f f BC-******BALLY-MANUFACTU   03-13 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>BALLY MANUFACTURING SAID IT IS CONSIDERING SALE OF SIX FLAGS THEME PARKS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9803" NEWID="4890">
<DATE>13-MAR-1987 12:42:33.46</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;f0706&#31;reute
u f BC-TELEMEDIA-TO-BUY-HARR   03-13 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>TELEMEDIA TO BUY HARROWSMITH, EQUINOX MAGAZINES</TITLE>
<DATELINE>    MONTREAL, March 13 - </DATELINE><BODY>(Telemedia Inc) said its (Telemedia
Publishing Inc) subsidiary agreed to buy privately-owned
Harrowsmith and Equinox magazines for an undisclosed amount of
cash.
    Telemedia said the acquisition is expected to have a small
positive impact on short-term earnings.
    Harrowsmith, an alternative life-style magazine, is
Canada's seventh-largest paid circulation English-language
magazine while Equinox is the country's eighth largest. Each
has a circulation of about 160,000 copies.
     The magazine group had revenues of eight mln dlrs last
year and employs 50 people, Telemedia said.             
    Telemedia said it will also acquire a 10 pct interest in
the company which recently launched the U.S. edition of
Harrowsmith.
    The magazine's U.S. editiion, begun last year, now has a
paid circulation of 180,000, the company said.
    It said a final deal is expected in mid-April.
    Telemedia said the magazines' founder has agreed to
continue to provide editorial and publishing direction for the
magazines.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9804" NEWID="4891">
<DATE>13-MAR-1987 12:43:29.39</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f0712&#31;reute
u f BC-WHITE-HOUSE-SAID-HOLD   03-13 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>WHITE HOUSE SAID HOLDING OFF DECISION ON BUDGET</TITLE>
<AUTHOR>    By Michael Posner, Reuters</AUTHOR>
<DATELINE>    Washington, March 13 - </DATELINE><BODY>Congressional budget leaders are
asking President Reagan to join in a bipartisan effort - or
even a summit - to write a new budget, but White House chief of
staff Howard Baker said no decision has been made yet, a Senate
source said.
    The request for White House cooperation was made yesterday
by Senate Budget Committee chairman Lawton Chiles at a meeting
with Baker, the source said.
    The appeal came as the Senate Budget Committee made plans
to start drafting next Tuesday a fiscal 1988 budget plan that
Democrats controlling Congress hope to get through both
chambers by April 15.
    House Democrats have been meeting privately and will
continue discussions on Tuesday to develop a plan for the full
committee which holds its first drafting meeting Thursday.
    Reagan's own budget was submitted in January but Congress
generally has rejected it as unrealistic, with the
Congressional Budget Office saying the deficit is understated
and should be a more realistic 134 billion dlrs.   
    Among major controversial decisions that Congress has to
make are levels of deficit deductions to meet the Gramm-Rudman
budget law target of cutting the estimated 171
billion dlr deficit for 1988 to 108 billion dlrs.
    A key decisions is the amount of new revenues - Reagan
proposed some 22 billion dlrs in asset sales and excise taxes -
as part of a deficit cutting plan.
    Reagan, who opposes new taxes, refuses to say he is
advocating higher taxes through his revenue scheme.
    The Gramm-Rudman law sets fixed deficit targets for
Congress with the aim of wiping out huge deficits by 1991, but
over the past two years deficits have exceeded the targets.
    The Senate source said that Chiles asked for cooperation to
avoid clashes when the Senate and House Budget committees start
writing separate budget plans for congressional approval,
starting next week.
    The source said Chiles told Baker "If you start working
sooner, rather than later you have a chance to do something
before everyone gets locked in."
    Baker has had conversations about the budget problem with
Senator Pete Domenici of New Mexico, the senior Republican on
the Senate Budget Committee, and with House Speaker Jim Wright.
    Baker reportedly said that he plans to have further talks
with other Republicans and House Budget Committee Chairman
William Gray "before the the White House decides what it is
going to do, if anything," the source said.
    House sources said that Gray --who has been pushing the
idea of a budget summit with Reagan--is anxious to work with
the White House to get a compromise budget plan.
    Besides reaching decisions on actual spending and revenue
levels in a new budget, congressmen are considering adjusting
or redefining the targets of the Gramm-Rudman law to make them
more realistic.
    Reagan presented about 36 billion dlrs in spending delays,
cuts and revenues he said will reach 108 billion dlrs.
    Gray has said that if Congress approves 36 billion dlrs in
reductions, the deficit would be 134 billion dlrs realistically
because of what he says are more accurate economic assumptions.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9805" NEWID="4892">
<DATE>13-MAR-1987 12:46:52.18</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES><D>aruba</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0725&#31;reute
d f BC-DIVI-HOTELS-NV-&lt;DVH>   03-13 0061</UNKNOWN>
<TEXT>&#2;
<TITLE>DIVI HOTELS NV &lt;DVH> 3RD QTR NET</TITLE>
<DATELINE>    ARUBA, March 13 -
    </DATELINE><BODY>Shr profit 36 cts vs profit 14 cts
    Net profit 1,162,000 vs profit 464,000
    Revs 16.6 mln vs 11.3 mln
    Nine mths
    Shr loss 89 cts vs loss 79 cts
    Net loss 2,988,000 vs loss 2,673,000
    Revs 35.1 mln vs 25.1 mln
    NOTE: Nine months fiscal 1987 includes extraordinary gain
of 16 cts per share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9822" NEWID="4893">
<DATE>13-MAR-1987 12:47:56.62</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;f0729&#31;reute
u f BC-BALLY-&lt;BLY>-CONSIDERI   03-13 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>BALLY &lt;BLY> CONSIDERING SALE OF SIX FLAGS</TITLE>
<DATELINE>    CHICAGO, March 13 - </DATELINE><BODY>Bally Manufacturing Corp said it is
considering the sale of its Six Flag theme amusement park unit
and would use the proceeds to pay off debt.
    In addition to the possible sale of the amusement parks,
Bally plans to sell a minority stake in its health club chain
to the public. The company will register a proposed offering
with the Securities and Exchange Commission for 20 to 30 pct of
the health clubs soon, spokesman William Peltier told Reuters.
    "Selling Six Flags is definitely under consideration,"
Peltier said in response to an inquiry. He said the company
would use much of the income from the amusement park chain,
were it to be sold, to repay debt.
    Six Flags might sell for as much as 300 mln dlrs, analysts
said. The health club chain, the nation's largest, is valued at
350 to 375 mln dlrs, they said.
    Bally reportedly already has been approached about Six
Flags by several prospective buyers.
    The company needs the cash to begin paying back a 1.6 mln
dlrs mountain of debt.
    Bally recently completed a 439 mln dlrs acquisition of the
Golden Nugget casino hotel in Atlantic City from Golden Nugget
Inc &lt;GNG.N>.
    The purchase pushed its long-term debt to 1.6 billion dlrs,
or almost 2.7 times its equity of 600 mln dlrs.
    Bally's 325-unit health and tennis clubs had revenues in
1986 of more than 450 mln dlrs, or about 28 pct of Bally's
total revenues of 1.64 billion dlrs.
    Bally acquired Six Flags for 147.4 mln dlrs in January 1982
from Penn Central Corp. Bally bought the Great America theme
park in Gurnee, Ill., in May 1984 for 113.2 mln dlrs from
Marriott Corp &lt;mhs>.
    In 1986 the parks had pretax operating profit of 48.6 mln
dlrs on revenues of 369.4 mln dlrs.
    The clubs and equipment unit combined to post operating
profit of 60.4 mln dlrs on revenues of 475.6 mln dlrs in 1986,
of which 456.2 mln came from the clubs.
    The company earlier this month said it will take a charge
to earnings in the first quarter of 17.3 mln dlrs as a result
of its deal to buy back 2.6 mln of its common shares from real
estate developer Donald Trump.
    Under a February 21 deal, Bally agreed to buy the 2.6 mln
of the 3.06 mln shares held by Trump at 24 dlrs a share, or
62.4 mln dlrs, plus 6.2 mln dlrs related expenses in exchange
for Trump not seeking control of the company for 10 years.
    The deal also requires Bally to buy Trump's remaining
shares for 33 dlrs a share if the stock price does not reach
that level by February 21, 1988.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9806" NEWID="4894">
<DATE>13-MAR-1987 12:48:28.42</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;f0730&#31;reute
r f BC-FRANKLIN-RESOURCES-&lt;B   03-13 0057</UNKNOWN>
<TEXT>&#2;
<TITLE>FRANKLIN RESOURCES &lt;BEN> SAYS NET MAY DOUBLE</TITLE>
<DATELINE>    SAN MATEO, Calif., March 13 - </DATELINE><BODY>Franklin Resources Inc said
it believes earnings could double this year as compared to a
year ago when the company reported income of 32 mln dlrs on 143
mln dlrs in revenues.
    Franklin Resources is a financial services company. Its
fiscal year ends September 30.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9807" NEWID="4895">
<DATE>13-MAR-1987 12:49:52.36</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;f0733&#31;reute
r f BC-EVANS/SOUTHERLAND-&lt;ES   03-13 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>EVANS/SOUTHERLAND &lt;ESCC> SELLS CONVERTIBLE DEBT</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>Evans and Southerland Computer Corp is
raising 50 mln dlrs through an offering of convertible
subordinated debentures due 2012 with a 6-1/2 pct coupon and
par pricing, said sole manager Hambrecht and Quist Inc.
    The debentures are convertible into the company's common
stock at 48.50 dlrs per share, representing a premium of 24.36
pct over the stock price when terms on the debt were set.
    Non-callable for two years, the issue is rated B-plus by
Standard and Poor's Corp.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9808" NEWID="4896">
<DATE>13-MAR-1987 12:50:10.58</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>cboe</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0734&#31;reute
d f BC-COCA-COLA-ENTERPRISES   03-13 0078</UNKNOWN>
<TEXT>&#2;
<TITLE>COCA-COLA ENTERPRISES &lt;CCE> OPTIONS ON CBOE</TITLE>
<DATELINE>    CHICAGO, March 13 - </DATELINE><BODY>The Chicago Board Options Exchange said
it will begin trading call and put options March 16 on
Coca-Cola Enterprises Inc.
    It said options will trade on the February quarterly
expiration cycle with initial exercise prices set at 15, 17-1/2
and 20 and position limits of 8,000 contracts on the same side
of the market.
    It said the new listing augments the exchange's trading of
Coca-Cola Co &lt;KO>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9809" NEWID="4897">
<DATE>13-MAR-1987 12:50:22.68</DATE>
<TOPICS></TOPICS>
<PLACES><D>ussr</D><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L
&#22;&#22;&#1;f0735&#31;reute
r f BC-USSR-LIVESTOCK-MAY-BE   03-13 0141</UNKNOWN>
<TEXT>&#2;
<TITLE>USSR LIVESTOCK MAY BE IN GOOD SHAPE-U.S. REPORT</TITLE>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>Soviet livestock herds are possibly
in better shape than expected after the recent harsh winter,
the U.S. agriculture counselor in Moscow said.
    Livestock procurement levels for January and February were
recently reported in a Soviet agriculture newspaper to be up
five pct from year ago levels, an attache report said.
    "These procurement levels ... are surprisingly normal given
the harshness of the 1986/87 winter ... indicating neither
abnormal distress slaughter nor subnormal livestock product
output. While the overwintering period is not over yet, the
worst of it is, and herds are possibly in better shape than
expected," the counselor said.
    A healthy livestock sector will keep Soviet feed demand 
strong and impact USSR grain imports, analysts said.
    January livestock procurement levels were up only 1.6 pct,
indicating a turn around in February, an Agriculture Department
analyst of the Soviet Union said.
    The analyst said an easing of the cold weather in February,
coupled with heavy amounts of grain fed to the animals would
account for the rise in procurements.
    "There's no question that the (Soviet) livestock is in good
shape," he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9810" NEWID="4898">
<DATE>13-MAR-1987 12:52:34.94</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>cuba</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0743&#31;reute
u f BC-CUBA-SUGAR-CROP-SEEN   03-13 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>CUBA SUGAR CROP SEEN AT LEAST SAME AS LAST YEAR</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>Cuban sugar export figures for January
suggest that this year's crop may be at least as large as last
year's 7.35 mln tonnes, according to sugar analysts.
    Exports in January totalled 733,000 tonnes raw value, up
from 725,000 a year earlier, according to figures received by
the International Sugar Organization.
    January is the first major export month and the figures
thus give a good indication of the current crop, they said.
Fourth quarter exports fell to 622,000 tonnes from 909,000
tonnes a year earlier, but this was because Cuba was destocking
at the end of 1985, they added.
    Trade house C Czarnikow recently estimated production this
year at 7.50 mln tonnes.
    Cuban sugar production in the third quarter of 1986 was
12,000 tonnes, giving a final 1985/86 crop total of 7.35 mln
tonnes, compared with a 1984/85 crop of 8.10 mln tonnes.
    There is normally no third quarter production in Cuba, but
a hurricane meant that last year's crop was extended.
    Exports to the USSR were substantially down in January at
362,000 tonnes from 489,000 in January 1986, but other Comecon
countries received 210,000 tonnes, against 80,000 tonnes in the
same month last year, figures received by the ISO show.
    Bulgaria, Czechoslovakia, Poland and Romania all took
substantially more Cuban sugar.
    Cuba's November 1986 exports totalled 158,000 tonnes,
compared with 190,000 tonnes in 1985, and December's total was
237,000 tonnes, down from 518,000 tonnes the year before.
Calendar year exports for 1986 were also lower at 6.69 mln
tonnes against 7.21 mln in 1985 -- the lowest level since
1980's 6.19 mln tonnes, the figures show.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9811" NEWID="4899">
<DATE>13-MAR-1987 12:55:48.82</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0754&#31;reute
r f BC-AMERICAN-HONDA-HAS-HI   03-13 0046</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN HONDA HAS HIGHER EARLY MARCH SALES</TITLE>
<DATELINE>    GARDENA, Calif., March 13 - </DATELINE><BODY>&lt;American Honda Motor Co Inc>
said its domestic sales for the first 10 days of March totaled
4,394 as compared to 3,786 a year earlier.
    It said year-to-date sales rose to 52,143 from 31,686 last
year.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9812" NEWID="4900">
<DATE>13-MAR-1987 12:56:04.10</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;f0755&#31;reute
u f BC-HELMERICH-AND-PAYNE-I   03-13 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>HELMERICH AND PAYNE INC &lt;HP> INCREASES DIV</TITLE>
<DATELINE>    TULSA, Okla, March 13 -
    </DATELINE><BODY>Qtly div 10 cts vs nine cts
    Payable June one
    Record May 15
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9813" NEWID="4901">
<DATE>13-MAR-1987 12:56:20.79</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;f0757&#31;reute
r f BC-HOLLY-CORP-&lt;HOC>-2ND   03-13 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>HOLLY CORP &lt;HOC> 2ND QTR JAN 31 LOSS</TITLE>
<DATELINE>    DALLAS, March 13 -
    </DATELINE><BODY>Shr loss 45 cts vs profit 20 cts
    Net loss 1,841,000 vs profit 983,000
    Revs 56.2 mln vs 102.9 mln
    Six mths
    Shr loss 13 cts vs profit 80 cts
    Net loss 534,000 vs profit 4.4 mln
    Revs 121.4 mln vs 209.3 mln
    NOTE: Six months fiscal 1987 includes loss of 17 cts per
share from discontinued operations.
    Per share figures also reflect partial three-for-one stock
split effected December 1985.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9814" NEWID="4902">
<DATE>13-MAR-1987 12:57:10.14</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0762&#31;reute
b f BC-MIDLAND-UNIT-PULLS-OU   03-13 0110</UNKNOWN>
<TEXT>&#2;
<TITLE>MIDLAND UNIT PULLS OUT OF EQUITY MARKET MAKING</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>Midland Bank Plc &lt;MDBL.L> said its
Greenwell Montagu Securities unit would pull out of equity
market making and concentrate instead on providing a broker
dealer and agency service for its clients.
    The operation has become the first major casualty in the
London markets since deregulation last October abolished fixed
commissions and allowed the merging of broking and jobbing
operations into market making activities.
    A spokesman said Greenwell Montagu Gilt Edged, which is a
primary gilt edged market maker, and Greenwell Montagu
stockbrokers, were not affected by the decision.
    The market making operation had encountered much greater
competition than had been expected in the post-Big Bang period,
the spokesman added.
    Although Midland considered that the operation would be
viable in the long term, it would require the concentration of
greater resources than could be justified for an operation that
was not a core Midland activity. He confirmed Greenwell Montagu
Securities had been losing money in past months.
    The pull out from market making would be conducted in an
orderly fashion in the near future. There might also be some
job losses, he said without giving any details.
    Market sources said it was no great surprise that a market
maker had pulled out, as the intensity of competition had
suggested for some time that sooner or later someone would
decide to withdraw.
    They said some retreat by Greenwell had been likely because
of its losses, and added there also been speculation that it
could pull out of market making in gilts also.
    The move was unlikely to have any major impact on market
confidence, as the occasional speculation in the past few weeks
had had little impact.
    Analysts said commission rates on institutional equity
trades have dropped sharply in the five months since
deregulation, with some firms covering some of their reduced
profits by trading on their own account.
    In a recent report, Greenwell Montagu Research said, "Those
who have made profits are either immensely clever or immensely
lucky. Some are already approaching the pain barrier, others
are prepared to tough it out. But until some players withdraw
from the market, it will be difficult to improve profitability."
    Dealers said the pace of withdrawals was likely to speed up
in the next year, and would intensify if the three-month bull
run on the London stock exchange petered out.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9815" NEWID="4903">
<DATE>13-MAR-1987 12:57:54.86</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;V
&#22;&#22;&#1;f0766&#31;reute
u f BC-WHITE-HOUSE-SAYS-TRAD   03-13 0086</UNKNOWN>
<TEXT>&#2;
<TITLE>WHITE HOUSE SAYS TRADE BILL GENERALLY GOOD</TITLE>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>White House spokesman Marlin
Fitzwater said the administration had some disagreements with
the trade bill that cleared a House subcommittee yesterday but
generally felt good about the bill.
    "Generally we feel very good about the bipartisan
consideration of the trade legislation. I think we are
progressing very well," he told reporters.
    "There are wide areas of agreement. There are some areas of
disagreement," he said.                 
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9816" NEWID="4904">
<DATE>13-MAR-1987 12:59:22.58</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0776&#31;reute
b f BC-******SUNTER-ACQUISIT   03-13 0011</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>SUNTER ACQUISITION BEGINS TENDER FOR ALLEGHENY INTERNATIONAL INC
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9817" NEWID="4905">
<DATE>13-MAR-1987 13:01:39.20</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;f0783&#31;reute
u f BC-U.S.-CONSERVATION-SIG   03-13 0140</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. CONSERVATION SIGNUP SEEN 10 TO 12 MLN ACRES</TITLE>
<DATELINE>    CHICAGO, March 13 - </DATELINE><BODY>Grain traders and analysts look for a
10 to 12 mln acre sign-up in the USDA's conservation reserve
program, scheduled to be announced after 1400 CST today.
    The USDA probably will accept about 80 to 90 pct of the
acres submitted, they said.
    Total enrollment in the first three years of the program is
only 8.9 mln acres, so the sharp increase expected this year
has underpinned new crop corn futures all week.
    However, some analysts said a 10 to 12 mln acre sign-up may
end up being negative to new crop corn prices, citing trade
talk earlier this year that 14 to 15 mln acres may be submitted
by farmers. Also, acres set-aside under the conservation
program are by definition poor yielding, so the impact on total
corn production will be minimal, they added.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9818" NEWID="4906">
<DATE>13-MAR-1987 13:05:13.38</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;f0806&#31;reute
u f BC-MOBIL-&lt;MOB>-LONG-TERM   03-13 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>MOBIL &lt;MOB> LONG TERM DEBT DOWN IN 1986</TITLE>
<DATELINE>    NEW YORK, MARCH 13 - </DATELINE><BODY>Mobil Corp made a 15 pct reduction in
its long term debt in 1986 from the previous year according to
data in its 1986 annual report.
    Mobil chairman, Allen E. Murray said in his report to
shareholders, "that lower debt and our strong cash and
marketable securities position improves Mobil's flexibility."
    Long term debt as of December 31, 1986 was put at 7.9
billion dlrs, down 15 pct from 9.3 billion dlrs on the same day
in 1985.
    Mobil has moved to reduce debt at high interest rates,
which may reduce interest payments.
    Murray said that with the results from 1986, "we're paying
back 3.8 billion dlrs in the past two years, or the equivalent
of 66 pct of the debt incurred in 1984 when we bought Superior
Oil."
    Mobil said that it has about 183 mln dlrs of long term debt
which is due in 1987 although this will rise appreciably to 1.2
billion dlrs of long term debt due in 1988.
    At the end of 1986, Mobil said it also had an existing
effective shelf registration with the Securities and Exchange
Commmission to permit the sale of 205 mln dlrs of debt.
   Mobil's debt reduction program has also been abetted by
several steps taken by the company to restructure its
operations.
    Mobil's Murray said in his remarks to shareholders that the
company was continuing to dispose of assets which did not fit
the company's long range plans and had realized some 1.1
billion dlrs from the sale of its Container Corp subsidiary.
    Murray said that as a result of lower debt and more
efficient operations "the company is now is a position to seize
opportunities that may become available and use this strength
in whatever way best builds shareholder value."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9819" NEWID="4907">
<DATE>13-MAR-1987 13:06:16.23</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0815&#31;reute
r f BC-UNION,-PHOENIX-STEEL   03-13 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>UNION, PHOENIX STEEL UNABLE TO REACH AGREEMENT</TITLE>
<DATELINE>    CLAYMONT, Del., March 13 - </DATELINE><BODY>&lt;Phoenix Steel Corp> said it and
the union representing workers at its seamless tubing mill in
Phoenixville, Penn., were unable to reach agreement to extend
the union contract that expires March 31.
    Phoenix said the union rejected its offer to extend a labor
agreement through May 30 and a medical insurance agreement for
active employees through June 30.
    The company said no further bargaining sessions are planned
between it and United Steelworkers Local 2322.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9820" NEWID="4908">
<DATE>13-MAR-1987 13:06:36.62</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D><D>ireland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F Y
&#22;&#22;&#1;f0817&#31;reute
r f BC-CENERGY   03-13 0111</UNKNOWN>
<TEXT>&#2;
<TITLE>IRISH OIL CONCERN BOOSTS CENERGY &lt;CRG> STAKE</TITLE>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>Bryson Oil and Gas plc, a Belfast,
Northern Ireland, oil company which has said it is considering
seeking control of Cenergy Corp, said it raised its stake in
the company to 1,281,887 shares, or 13.2 pct of the total.
    In a filing with the Securities and Exchange Commission,
Bryson said it bought 440,000 Cenergy common shares on March 10
at eight dlrs each. Previously it had held 841,887 shares, or
8.5 pct.
    Bryson has request detailed shareholder information from
Cenergy in case it decided to communicate with shareholders.
But it said Cenergy has made legal challenges to the request.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9821" NEWID="4909">
<DATE>13-MAR-1987 13:06:39.85</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0818&#31;reute
s f BC-UNUM-CORP-&lt;UNM>-SETS   03-13 0022</UNKNOWN>
<TEXT>&#2;
<TITLE>UNUM CORP &lt;UNM> SETS QUARTERLY</TITLE>
<DATELINE>    PORTLAND, Maine, March 13 -
    </DATELINE><BODY>Qtly div 10 cts vs 10 cts prior
    Pay May 20
    Record April 27
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9823" NEWID="4910">
<DATE>13-MAR-1987 13:08:10.74</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;f0822&#31;reute
u f BC-SUNTER-BEGINS-TENDER   03-13 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>SUNTER BEGINS TENDER FOR ALLEGHENY &lt;AG></TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>Allegheny International Inc said  
Sunter Acquisititon Corp, formed by First Boston Inc, began a
cash tender offer in accordance with their previously announced
merger agreement for all the outsanding shares of Allegheny's
common stock, 2.19 dlr cumulative preference stock and 11.25
dlrs convertible preferred stock.
    The offer expires April 9, unless extended.
    Under terms of the agreement, tendering shareholders will
receive 24.60 dlrs per common share, 20 dlrs per preference
share and 87.50 dlrs per preferred share.
    Allegheny said the offer is conditioned upon the valid 
tender of stock representing a majority of the voting power and
at least two-thirds of outstanding shares of preference stock
and preferred stock.
    The merger agreement was announced earlier this week.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9824" NEWID="4911">
<DATE>13-MAR-1987 13:08:30.43</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;f0824&#31;reute
d f BC-transit-financial   03-13 0039</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;TRANSIT FINANCIAL HOLDINGS INC> 4TH QTR NET</TITLE>
<DATELINE>    TORONTO, March 13 -
    </DATELINE><BODY>Shr 35 cts vs 13 cts
    Net 531,840 vs 188,362
    Revs not given
    Year
    Shr 83 cts vs 41 cts
    Net 1,249,000 vs 620,000
    Revs 10,800,000 vs 5,600,000
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9825" NEWID="4912">
<DATE>13-MAR-1987 13:08:43.78</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;f0825&#31;reute
r f BC-LYPHOMED-&lt;LMED>-SELLS   03-13 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>LYPHOMED &lt;LMED> SELLS CONVERTIBLE DEBENTURES</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>LyphoMed Inc is raising 70 mln dlrs
through an offering of convertible subordinatred debentures due
2012 with a 5-1/2 pct coupon and par pricing, said lead manager
Alex Brown and Sons Inc.
    The debentures are convertible into the company's common
stock at 36.25 dlrs per share, representing a premium of 27.75
pct over the stock price when terms on the debt were set.
    Non-callable for two years, the issue is rated BB by
Standard and Poor's Corp. Montgomery Securities co-managed the
deal.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9826" NEWID="4913">
<DATE>13-MAR-1987 13:09:07.66</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;A RM
&#22;&#22;&#1;f0826&#31;reute
f f BC-******IADB-CHIEF-SAYS   03-13 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>IADB CHIEF SAYS WITHOUT SUSTAINED LATIN GROWTH THERE WILL EVENTUALLY BE A DEFAULT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9827" NEWID="4914">
<DATE>13-MAR-1987 13:10:38.30</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;f0828&#31;reute
d f BC-SPORTING-LIFE-INC-&lt;SP   03-13 0082</UNKNOWN>
<TEXT>&#2;
<TITLE>SPORTING LIFE INC &lt;SPLF> 2ND QTR JAN 31 NET</TITLE>
<DATELINE>    ALEXANDRIA, Va., March 13 -
    </DATELINE><BODY>Oper shr loss six cts vs profit four cts
    Oper net loss 58,388 vs profit 34,101
    Revs 2,419,203 vs 2,145,967
    1st half
    Oper shr profit six cts vs profit 18 cts
    Oper net profit 61,763 vs profit 172,166
    Revs 5,731,582 vs 4,458,040
    NOTE: Prior year net excludes extraordinary credits of
4,500 dlrs in quarter and 46,000 dlrs in half.
    Current quarter net includes 47,470 dlr tax credit.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9828" NEWID="4915">
<DATE>13-MAR-1987 13:12:12.36</DATE>
<TOPICS></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0833&#31;reute
u f BC-DUTCH-INVESTMENT-BANK   03-13 0103</UNKNOWN>
<TEXT>&#2;
<TITLE>DUTCH INVESTMENT BANK RAISES 3.10 BILLION YEN LOAN</TITLE>
<DATELINE>    BRUSSELS, March 13 - </DATELINE><BODY>De Nationale Investeringsbank NV of
the Netherlands has signed a 3.1 billion yen bullet loan
agreement, arranger Mitsubishi Bank (Europe) SA said.
    The five-year term loan carries an interest rate of
Japanese long term prime rate flat. It features a swap
agreement but a Mitsubishi Bank spokesman declined to give
further details.
    The lenders are Mitsubishi Bank Ltd and one other Japanese
financial institution which the spokesman declined to name.
    Mitsubishi said the loan was believed to be the first the
borrower has raised in yen.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9829" NEWID="4916">
<DATE>13-MAR-1987 13:14:23.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0840&#31;reute
b f BC-/IADB-CHIEF-WARNS-OF   03-13 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>IADB CHIEF WARNS OF EVENTUAL LATIN DEFAULT</TITLE>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>Antonio Ortiz Mena, president of the
Inter-American Development Bank, warned that if Latin countries
were unable to speed up their economic growth, then in the long
run there would be a default.
    He told a press conference foreshadowing the bank's annual
meeting next week, "For the banks it is convenient to be
repaid. But to achieve that, the countries need to grow. If
they don't, then in the long run there will be a default."
    Ortiz Mena warned that Latin America needed to reverse the
capital outflows from the region and beyond that needed more
resources.
    Ortiz Mena declined to agree with estimates that capital
outflows from Latin America last year totaled 35 billion dlrs
and that therefore he was calling for an inflow into the region
above that sum.
    He said the U.S. debt strategy, which envisaged stepped up
lending by commercial and multilateral banks to major debtor
nations of 29 billion dlrs over three years, was insufficient
to achieve the necessary rates of growth.
    But he did stress the U.S. plan was important and the right
approach.
    Ortiz Mena said, "It is in the interest of the creditors,
not only the debtors, to push forward the development process
in Latin America and that has happened."
    He added, "The only problem is the resources have not been
enough."
    Turning to Brazil, whose growth rate he predicted will
decline slightly this year from 1986, Ortiz Mena said the
country's moratorium was the right action in order to avert a
long term default.
    "So it's preferable they negotiate now," a move which would
eliminate any chance of panic in the markets.
    Ortiz Mena also said that Brazilian authorities have opened
negotiations already with commercial banks.
    He pointed out Brazil took the action because of its
deteriorating economic situation.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9830" NEWID="4917">
<DATE>13-MAR-1987 13:14:33.02</DATE>
<TOPICS></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
u f BC-FDA-RECALL-MONSANTO&lt;M   03-13 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>FDA RECALL MONSANTO&lt;MCT> UNIT ORAL CONTRACEPTIVE</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>The Food and Drug Administration said
Monsanto Co's &lt;MCT> G.D. Searle and Co unit is voluntarily
recalling all lots of its Gynex oral contraceptives.
    The FDA said some of the blister-pack cards that house the
birth contol pills may contain out of sequence tablets in the
28-day-cycle package. It said other 21-day-cycle packages may
be missing some tablets.
    If oral contraceptives are taken in the wrong order or
skipped, the likelihood of pregancy increases.
    The FDA said said the recall affects 315,000 packages of
the pills which were distributed nationwide since the drug was
first distributed in February.
    The FDA said Searle believes only a small number of
pacakges, about 2,000 to 3,000, were dispensed to consumers.
    The FDA also said the labeling on the product indicates
that Gynex oral contraceptives are manufactured and packaged by
Corona Pharmaceutical of Corona, Calif., for G.D. Searle and
Co.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9831" NEWID="4918">
<DATE>13-MAR-1987 13:15:37.12</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;f0842&#31;reute
u f BC-CYCLOPS   03-13 0068</UNKNOWN>
<TEXT>&#2;
<TITLE>INVESTMENT FIRMS CUT CYCLOPS &lt;CYL> STAKE</TITLE>
<DATELINE>    WASINGTON, March 13 - </DATELINE><BODY>A group of affiliated New York
investment firms said they lowered their stake in Cyclops Corp
to 200,500 shares, or 5.0 pct of the total outstanding, from
260,500 shares, or 6.4 pct.
    In a filing with the Securities and Exchange Commission,
the group, led by Mutual Shares Corp, said it sold 60,000
Cyclops common shares since February 26.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9832" NEWID="4919">
<DATE>13-MAR-1987 13:17:27.81</DATE>
<TOPICS></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>ase</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0846&#31;reute
r f BC-ATTN-EDITOR---DUTCH-P   03-13 0093</UNKNOWN>
<TEXT>&#2;
<TITLE>AMSTERDAM BOURSE SAID DELAYING DREXEL MEMBERSHIP</TITLE>
<DATELINE>   AMSTERDAM, March 13 - </DATELINE><BODY>The Amsterdam Stock Exchange today
declined to comment on a press report saying Drexel Burnham
Lambert Inc's request for membership had been delayed pending
investigation by the U.S. Securities and Exchange Commission.
    The Exchange was replying to Reuters inquiries after the
leading Dutch evening daily NRC Handelsblad published a report
this evening quoting an unnamed bourse official as saying
Drexel's application was delayed while the firm was under
investigation by the SEC.
    It usually takes the bourse one to two months to process a
membership application, the official said, adding: "It's been
going on for three to four months with Drexel, so draw your own
conclusions."
   "We're not particularly worried about the contents of the
application but we think the timing is somewhat unfortunate,"
the NRC quoted the official as saying.
   Drexel is currently under investigation by the SEC in
connection with insider trading activities by Ivan Boesky and
Dennis Levine last November, a month after the company applied
for permission to deal in Dutch equity.
   An exchange spokesman said there was nothing unusual about
the processing period of Drexel's application, adding that he
would not comment on any company before all documents had been
studied by the bourse board.
   A spokesman from Drexel's London branch, which is dealing
with the application, said the delay was of a purely technical
nature in Drexel's head office in New York.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9833" NEWID="4920">
<DATE>13-MAR-1987 13:18:28.38</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;f0849&#31;reute
r f BC-argyll-energy-corp   03-13 0042</UNKNOWN>
<TEXT>&#2;
<TITLE>&lt;ARGYLL ENERGY CORP> YEAR LOSS</TITLE>
<DATELINE>    TORONTO, March 13 -
    </DATELINE><BODY>Shr loss 1.41 dlrs vs profit 27 cts
    Net loss 8,225,052 vs profit 1,566,936
    Revs 4,028,231 vs 6,725,462
    Note: 1986 shr and net after 6,606,646 dlr writedown on
property and other assets
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9834" NEWID="4921">
<DATE>13-MAR-1987 13:18:57.75</DATE>
<TOPICS></TOPICS>
<PLACES><D>belgium</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0852&#31;reute
u f BC-NEDERLANDSE-GASUNIE-I   03-13 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>NEDERLANDSE GASUNIE IN 3.28 BILLION YEN LOAN DEAL</TITLE>
<DATELINE>    BRUSSELS, March 13 - </DATELINE><BODY>NV Nederlandse Gasunie of the
Netherlands has signed a 3.28 billion yen bullet loan
agreement, arranger Mitsubishi Bank (Europe) SA said.
    The interest rate on the 5-1/2 year loan is the Japanese
long term prime rate flat. The loan has a swap agreement but a
bank spokesman declined to give further details.
    The lenders are Mitsubishi Bank Ltd and another Japanese
financial institution which the spokesman declined to name.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9835" NEWID="4922">
<DATE>13-MAR-1987 13:20:44.63</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;f0856&#31;reute
d f BC-transit-financialsees   03-13 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>TRANSIT FINANCIAL SEES 1987 SHARE PROFIT RISE</TITLE>
<DATELINE>    TORONTO, March 13 - </DATELINE><BODY>&lt;Transit Financial Holdings Inc>,
earlier reporting higher fourth quarter and full year earnings,
said it expects 1987 share profit to increase to 1.27 dlrs from
83 cts in 1986.
    The company said the 1987 share forecast is based on 2.5
mln shares outstanding, after a one mln common share issue on
December 30, 1986. Its 1986 and 1985 earnings were based on 1.5
mln shares outstanding.
    The company earlier reported 1986 profit rose to 1,249,000
dlrs or 83 cts a shares from year-earlier 620,000 dlrs or 41
cts a share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9836" NEWID="4923">
<DATE>13-MAR-1987 13:20:53.30</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>cme</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f0857&#31;reute
d f BC-CME-BOARD-PLAN-SAID-N   03-13 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>CME BOARD PLAN SAID NOT ANSWER TO DUAL TRADING</TITLE>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>A proposal by the Chicago Mercantile
Exchange's (CME) board of directors to restrict dual trading by
stock-index futures floor brokers would not provide a solution
to alleged abuses in the market, House Small Business Committee
chief economist John Helmuth said.
    Helmuth worked on legislation offered earlier this week by
Rep. Neil Smith (D-Iowa) to ban dual trading in the Standard
and Poor's 500 stock index futures trading pit.
    Last night the CME board recommended curbing, but not
banning, dual trading in S and P 500 futures and options.
    The CME board rejected a petition presented in February by
some members seeking an outright ban on dual trading, whereby 
floor brokers trade for their own accounts as well as for
customers.
    Helmuth said the board's proposal would not prevent traders
from falsifying the record that shows the times of their
trades.
    Helmuth predicted Smith's bill would be closely examined by
the House Energy and Commerce Committee, chaired by Rep. John
Dingell (R-Michigan). Dingell and his staff were unavailable
for comment.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9837" NEWID="4924">
<DATE>13-MAR-1987 13:27:39.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0880&#31;reute
f f BC-******AMERICAN-MOTORS   03-13 0010</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>AMERICAN MOTORS CORP EARLY MARCH U.S. CAR SALES OFF 57 PCT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9838" NEWID="4925">
<DATE>13-MAR-1987 13:29:03.45</DATE>
<TOPICS><D>interest</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0881&#31;reute
f f BC-******SAN-PAOLO-DI-TO   03-13 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>SAN PAOLO DI TORINO CUTS PRIME RATE TO 12.50 PCT FROM 13.00 PCT - OFFICIAL
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9839" NEWID="4926">
<DATE>13-MAR-1987 13:29:42.68</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0883&#31;reute
r f BC-PEGASUS-GOLD-&lt;PGULF>   03-13 0089</UNKNOWN>
<TEXT>&#2;
<TITLE>PEGASUS GOLD &lt;PGULF> REDUCES DEBT</TITLE>
<DATELINE>    SPOKANE, WASH., March 13 - </DATELINE><BODY>Pegasus Gold Inc said it
cut its long term debt to 85 mln dlrs from 100 mln dlrs when
its European bondholders voluntarily converted some of their
debt holdings into 1.5 mln shares of Pegasus common.
    The company said the debt converted represents about 40 pct
of the total 60 mln Swiss franc convertible debentures it
completed last Fall.
    In addition, Pegasus said it began mining and processing
operations at its Zortman/Landusky Mine one month ahead of
schedule.
    Pegasus said it completed the first phase of its 1987 Super
Pad ahead of schedule as well, allowing the mining company to
load up to 7.5 mln tons of new ore on the pad.
    Pegasus estimated that 1987 production at the
Zortman/Landusky mine will be about 80,000 ounces of gold and
225,000 ounces of silver.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9840" NEWID="4927">
<DATE>13-MAR-1987 13:31:47.42</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES><D>liffe</D></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C
&#22;&#22;&#1;f0891&#31;reute
r f BC-LIFFE-EXECUTIVE-GREET   03-13 0133</UNKNOWN>
<TEXT>&#2;
<TITLE>LIFFE EXECUTIVE GREETS SEC MOVE ON FUTURES TRADE</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>A decision by the U.S. Securities and
Exchange Commission to remove a key regulatory obstacle to
trading foreign debt futures on U.S. Exchanges was a
constructive development, London International Financial
Futures Exchange (LIFFE) Chief Executive Michael Jenkins said.
    The SEC yesterday agreed to remove the regulation against
trading futures in designated foreign government debt
securities on markets not located in the issuing country.
    Jenkins said the decision cleared the way for the Chicago
Board of Trade possibly to trade U.K. Long gilt futures and a
Japanese yen bond contract.
    The CBOT is now likely to proceed with an application to
trade gilts to the Commodity Futures Trading Commmission
(CFTC), he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9841" NEWID="4928">
<DATE>13-MAR-1987 13:34:32.41</DATE>
<TOPICS></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;f0905&#31;reute
f f BC-******PRESIDENT-REAGA   03-13 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>PRESIDENT REAGAN VOWS NO TAX RATE INCREASE AS LONG AS HE IS PRESIDENT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9842" NEWID="4929">
<DATE>13-MAR-1987 13:35:10.38</DATE>
<TOPICS><D>money-supply</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;f0909&#31;reute
f f BC-CANADIAN-MONEY-SUPPLY   03-13 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CANADIAN MONEY SUPPLY M-1 RISES 592 MLN DLRS IN WEEK, BANK OF CANADA SAID
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9843" NEWID="4930">
<DATE>13-MAR-1987 13:37:05.47</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;f0921&#31;reute
r f BC-HOLLY-CORP-&lt;HOC>-2ND   03-13 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>HOLLY CORP &lt;HOC> 2ND QTR JAN 31 LOSS</TITLE>
<DATELINE>    DALLAS, March 13 -
    </DATELINE><BODY>Shr loss 45 cts vs profit 20 cts
    Net loss 1,841,000 vs profit 983,000
    Revs 56.2 mln vs 102.9 mln
    Avg shrs 4,127,000 vs 4,835,000
    1st half
    Oper shr four cts vs 80 cts
    Oper net 172,000 vs 4,359,000
    Revs 121.4 mln vs 209.3 mln
    Avg shrs 4,127,000 vs 5,439,000
    NOTE: Current half net excludes 706,000 dlr loss from
discontinued oil and natural gas operations.
    Share adjusted for three-for-one stock split and
recapitalization in December 1985.
    Prior year net both periods includes pretax charge of
2,300,000 dlrs from recapitalization costs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9844" NEWID="4931">
<DATE>13-MAR-1987 13:37:26.75</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;f0923&#31;reute
r f BC-chrysler-canada   03-13 0098</UNKNOWN>
<TEXT>&#2;
<TITLE>CHRYSLER &lt;C> CANADA SETS MORE CASH REBATES</TITLE>
<DATELINE>    TORONTO, March 13 - </DATELINE><BODY>Chrysler Canada Ltd, wholly owned by
Chrsyler Corp, said it added some car and truck models to the
company's cash rebate program and discontinued the models from
its 3.9 pct financing plan.
    Chrysler Canada said effective March 16 it will offer a 750
dlr cash rebate on 1986 and 1987 Dodge Aries and Plymouth
Reliant sales. It will also offer a 500 dlr rebate to buyers of
1986 and 1987 Tursimo and Charger cars as well as Ram 50 and
Power Ram 50 trucks.
    The financing plan on the models will be discontinued March
15.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9845" NEWID="4932">
<DATE>13-MAR-1987 13:37:34.17</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;f0924&#31;reute
r f BC-HIGH-POINT-SELLS-DEBT   03-13 0108</UNKNOWN>
<TEXT>&#2;
<TITLE>HIGH POINT SELLS DEBT AND STOCK CONTRACTS</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>High Point Financial Corp is raising
six mln dlrs through an offering of redeemable subordinated
debentures due 1997 yielding 8.65 pct, said sole underwriter
Ryan, Beck and Co.
    The debentures have an 8-1/2 pct coupon and were priced at
99 to yield 147 basis points more than comparable Treasuries.
    High Point also sold 6.66 mln dlrs of cancellable mandatory
stock purchase contracts that require the purchase on March 1,
1997 of the company's common stock at 23 dlrs per share. High
Point is trading at 22 dlrs a share in the over-the-counter
market, according to Ryan, Beck.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9846" NEWID="4933">
<DATE>13-MAR-1987 13:37:48.68</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;f0926&#31;reute
d f BC-CYCLOPS-&lt;CYL>-WILL-NO   03-13 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>CYCLOPS &lt;CYL> WILL NOT GIVE DATA TO GROUP</TITLE>
<DATELINE>    PITTSBURGH, March 13 - </DATELINE><BODY>Cyclops Corp said its board rejected
a request by Cyacq Corp, an investor group, for more non-public
information about Cyclops, a maker of specialty steels and an
electronics retailer.
    Cyclops cited its agreement to be acquired by Britain's
Dixons Group PLC for 90.25 dlrs a share under a tender offer
that expires midnight March 17.
    Cyacq, comprising Audio/Video Affiliates Inc, Citicorp
Capital Investors Ltd and other investors, yesterday said it
would increase its tender offer for Cyclops to 92.50 dlrs a
share from 80 dlrs, subject to certain conditions.
    The conditions were that Cyclops provide Cyacq with
non-public data given to Dixons and that Cyacq be satisfied
with financial projections made by Dixons in its offer.
    Cyclops also said its board determined that Cyacq's
announcement was not an offer. "Cyacq's press release does not
amend Cyacq's outstanding tender offer which remains at 80 dlrs
per share and it does not state that Cyacq has financing
commitments necessary to carry out its original offer or any
increased offer that it may make," Cyclops said in a statement.
    Its agreements with Dixons are binding and Dixons indicated
it will not rescind or waive any provisions of the pacts,
Cyclops said.
    The company also said it was advised that Dixons'
shareholders approved the merger, satisfying that condition of
the agreement.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9847" NEWID="4934">
<DATE>13-MAR-1987 13:37:57.97</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;f0927&#31;reute
d f BC-SAN-JUAN-RACING-ASSOC   03-13 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>SAN JUAN RACING ASSOCIATION INC &lt;SJR> 3RD QTR</TITLE>
<DATELINE>    NEW YORK, March 13 -
    </DATELINE><BODY>Shr 22 cts vs 22 cts
    Net 915,911 vs 970,141
    Revs 8.0 mln vs 8.0 mln
    Nine months
    Shr 69 cts vs 56 cts
    Net 3.0 mln vs 2.4 mln
    Revs 23.5 mln vs 22.1 mln
    NOTE:1987 3rd qtr and nine months include extraordainry
gain of 341,145 dlrs and 480,412 dlrs, respectively, on sale of
land.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9848" NEWID="4935">
<DATE>13-MAR-1987 13:38:10.76</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0929&#31;reute
d f BC-STATUS-GAME-&lt;STGM>-TO   03-13 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>STATUS GAME &lt;STGM> TO PRODUCE CONDOM MACHINES</TITLE>
<DATELINE>    NEWINGTON, Conn., March 13 - </DATELINE><BODY>Status Game Corp said it has
started making condom vending machines which it will start
distributing within the next 30 days.
    It said initially it will place the machines in the 1,200
Nevada locations in which it has other vending machines. But it
said it has already received a substantial number of inquiries
from potential customers in Europe, Canada and the U.S.,
including two large English breweries which each operates over
5,000 pubs.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9849" NEWID="4936">
<DATE>13-MAR-1987 13:40:02.27</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;f0934&#31;reute
d f BC-OCCIDENTAL-&lt;OXY>-UNIT   03-13 0076</UNKNOWN>
<TEXT>&#2;
<TITLE>OCCIDENTAL &lt;OXY> UNIT IN MARKETING PLAN</TITLE>
<DATELINE>    HOUSTON, March 13 - </DATELINE><BODY>Occidental Petroleum Corp's Natural Gas
Pipeline Co of America unit said it has introduced a "Fast
Break" plan for expedited processing of requests for
interruptible natural gas transportation service.
    It said under Fast Break, customers submitting streamlined
service requests will receive interim transportation agreements
and, in most cases, have gas flowing within seven working days.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9850" NEWID="4937">
<DATE>13-MAR-1987 13:41:07.75</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;f0938&#31;reute
u f BC-LUCKY-STORES   03-13 0099</UNKNOWN>
<TEXT>&#2;
<TITLE>EDELMAN CUTS LUCKY STORES &lt;LKS> STAKE TO 4.8 PCT</TITLE>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>A group led by New York investor
Asher Edelman said he lowered its stake in Lucky Stores Inc
&lt;LKS> to 1,827,734 shares, or 4.8 pct of the total outstanding
common stock, from 1,930,734 shares, or 5.1 pct.
    In a filing with the Securities and Exchange Commission,
the Edelman group said it sold 103,000 Lucky Stores common
shares on March 9 and 10 at prices ranging from 28.625 to
30.375 dlrs a share.
    So long as Edelman's stake is below five pct he is not
required to report his dealings in Lucky Stores stock.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9851" NEWID="4938">
<DATE>13-MAR-1987 13:41:43.89</DATE>
<TOPICS><D>money-supply</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;f0941&#31;reute
b f BC-CANADIAN-MONEY-SUPPLY   03-13 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>CANADIAN MONEY SUPPLY RISES IN WEEK</TITLE>
<DATELINE>    OTTAWA, March 13 - </DATELINE><BODY>Canadian narrowly-defined money supply
M-1 rose 592 mln dlrs to 33.36 billion dlrs in week ended March
4, Bank of Canada said.
    M-1-A, which is M-1 plus daily interest chequable and
non-personal deposits, rose 778 mln dlrs to 75.95 billion dlrs
and M-2, which is M-1-A plus other notice and personal
fixed-term deposit rose 1.09 billion dlrs to 177.95 billion
dlrs.
    M-3, which is non-personal fixed term deposits and foreign
currency deposits of residents booked at chartered banks in
Canada, rose 1.13 billion dlrs to 217.28 billion dlrs.         
    Chartered bank general loans outstanding rose 500 mln dlrs
to 125.54 billion dlrs.
    Canadian liquid plus short term assets fell 244 mln dlrs to
35.12 billion dlrs and total Canadian dollar major assets of
the chartered banks rose 257 mln dlrs to 221.53 billion dlrs.
    Chartered bank net foreign currency assets rose 782 mln
dlrs to minus 876 mln dlrs.            
    Notes in circulation totalled 16.28 billion dlrs, up 45 mln
dlrs from the week before.
    Government cash balances rose 1.37 billion dlrs to 5.68
billion dlrs in week ended March 11.
    Government securities outstanding fell three mln dlrs to
224.08 billion dlrs in week ended March 11, treasury bills rose
600 mln dlrs to 75.15 billion dlrs and Canada Savings Bonds
fell 294 mln dlrs to 44.05 billion dlrs.           
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9852" NEWID="4939">
<DATE>13-MAR-1987 13:43:47.46</DATE>
<TOPICS><D>grain</D><D>corn</D></TOPICS>
<PLACES><D>usa</D><D>ussr</D><D>yugoslavia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0952&#31;reute
u f BC-/USSR-HEAVY-BUYERS-OF   03-13 0143</UNKNOWN>
<TEXT>&#2;
<TITLE>USSR HEAVY BUYERS OF YUGOSLAV CORN-U.S. REPORT</TITLE>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>The Soviet Union has been a heavy
buyer of Yugoslav corn since October, purchasing close to 1.5
mln tonnes in the 1986/87 marketing year, according to a report
from the U.S. agriculture counselor in Belgrade.
    Approximately 1.5 mln tonnes of Yugoslav corn have already
been committed to foreign buyers for 1986/87, with most of this
sold to the Soviet Union, the Yugoslav Grain Association
reported to the U.S. official.
    In a report dated March 10, the official said that about
800,000 tonnes of the corn has been delivered, with the balance
of 700,000 tonnes to be shipped between now and June.
    An additional 500,000 tonnes of corn can be shipped from
July-September, the grain associaiton said, so total Yugoslav
corn exports could reach 2.0 mln tonnes, the counselor said.
    Heavier than normal monthly shipping rates for Yugoslav
corn exports are due to the increased use of river barges for
exporting corn to the Soviet Union, the counselor said.
    Monthly corn shipments out of Yugoslavia have averaged
around 160,000 tonnes since October 1, higher than earlier
estimates of 150,000, the official said.
    The Soviet Union has taken an increased share of Yugoslav
corn sales during this marketing year, he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9853" NEWID="4940">
<DATE>13-MAR-1987 13:44:16.50</DATE>
<TOPICS></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;f0955&#31;reute
u f BC-REAGAN-VOWS-TO-BLOCK   03-13 0081</UNKNOWN>
<TEXT>&#2;
<TITLE>REAGAN VOWS TO BLOCK TAX HIKE IN HIS PRESIDENCY</TITLE>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>President Reagan told a group of
supporters his pledge to veto a tax hike is solid, adding,
"There will be no tax rate increase in the 100th Congress."
    While he did not mention House Speaker Jim Wright by name,
Reagan said that some members of Congress were urging that
taxes be raised.
    "I'm sorry but that's just not going to happen," said Reagan.
"We're not going to break faith with the American people."
    "I promise you, tax reform will go ahead as scheduled," the
president added. "All these tax hike schemes have as much chance
of flying as a dead duck," he said.
    Reagan combined his strongly-stated opposition to a tax
hike with a warning to Congress to meet the deficit reduction
targets set by the Gramm-Rudman-Hollings budget control law.
    Failure to do so, he said, would jeopardize a continuation
of the current favorable economic climate.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9854" NEWID="4941">
<DATE>13-MAR-1987 13:45:14.12</DATE>
<TOPICS><D>rubber</D></TOPICS>
<PLACES><D>usa</D><D>switzerland</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;T
&#22;&#22;&#1;f0958&#31;reute
u f BC-U.S.-MAKES-CONCILIATO   03-13 0106</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. MAKES CONCILIATORY MOVE AT RUBBER PACT TALKS</TITLE>
<DATELINE>    GENEVA, March 13 - </DATELINE><BODY>The U.S. Has dropped its insistence that
the floor price in a new International Natural Rubber
Agreement, INRA, be revised downward under certain
circumstances, conference sources said.
    The surprise conciliatory move by the U.S. Meets one of the
producers' main concerns -- that the floor price, or "lower
indicative price," remain unchanged, they said.
    It is not clear, however, whether all consuming countries
will follow suit, as a number of them, in particular Britain,
West Germany and Belgium, appeared to have strong reservations,
the sources added.
    The group of consumers has been seeking an adjustment of
the "lower indicative price" (set at 150 Malaysian/Singapore
cents a kilo in the present pact) if the buffer stock,
currently 360,000 tonnes, rises to 450,000 tonnes.
    The sources said the question of to what extent price
adjustments should be automatic remains a problem.
    Conference chairman Manaspas Xuto of Thailand has been
holding consultations with producers and consumers throughout
the day.
    The consumers' group is now holding a separate meeting
ahead of further consultations within the "president's group"
tonight.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9855" NEWID="4942">
<DATE>13-MAR-1987 13:46:38.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;M
&#22;&#22;&#1;f0965&#31;reute
d f BC-PEGASUS-GOLD-REDUCES   03-13 0136</UNKNOWN>
<TEXT>&#2;
<TITLE>PEGASUS GOLD REDUCES DEBT, STARTS MINE</TITLE>
<DATELINE>    SPOKANE, Wash., March 13 - </DATELINE><BODY>Pegasus Gold Inc said it
cut its long term debt to 85 mln dlrs from 100 mln dlrs when
its European bondholders voluntarily converted some of their
debt holdings into 1.5 mln shares of Pegasus common.
    The company said the debt converted represents about 40 pct
of the total 60 mln Swiss franc convertible debentures it
completed last Fall.
    Pegasus said it began mining and processing operations at
its Zortman/Landusky Mine one month ahead of schedule.
    It completed the first phase of its 1987 Super Pad ahead of
schedule as well, allowing the mining company to load up to 7.5
mln tons of new ore on the pad. Pegasus estimated 1987
production at the Zortman/Landusky mine will be about 80,000
ounces of gold and 225,000 ounces of silver.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9856" NEWID="4943">
<DATE>13-MAR-1987 13:49:23.83</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0982&#31;reute
r f BC-CAESARS-WORLD-&lt;CAW>-R   03-13 0092</UNKNOWN>
<TEXT>&#2;
<TITLE>CAESARS WORLD &lt;CAW> RESTRUCTURING SEEN</TITLE>
<AUTHOR>    By Greg Calhoun, Reuters</AUTHOR>
<DATELINE>    LOS ANGELES, March 13 - </DATELINE><BODY>Caesars World Inc is likely to seek
out a friendly suitor or restructure operations to fight off
the unsolicited takeover offer by investor Martin Sosnoff,
securities analysts said.
    "They could be talking to a "white knight" right now," said
Janney Scott Montgomery Inc analyst Marvin Roffman, adding.
"That would be my best guess."
    Analysts also said other options for Caesars could include
a restructuring or a buyback of Sosnoff's 13.6 pct holdings.
    Earlier today, Caesars World announced that its board
unanimously rejected a 28 dlr per share, or 725.2 mln dlr,
takeover offer from MTS Acquisition Corp, a company formed by
Sosnoff.
    The company also said it will explore a variety of
alternative transactions but did not elaborate.
    In announcing the rejection, Caesars said the offer was
inadequate given the company's financial condition, future
prospects and current market conditions.
    A Caesars spokesman said the company expects to file a
14D-9 with the Securities and Exchange Commission later today
with more information on its analysis of the Sosnoff offer.
    Analysts are generally bullish on the outlook for Caesars
World and some have placed the value of Caesars stock at from
32 to 35 dlrs per share.
    They have also asserted that Sosnoff is not likely to
succeed with the unsolicited bid unless he raises his offering
price to a higher level.
    Caesars World's stock is up 1-1/8 today at 29-1/8.
    Janney Montgomery's Roffman believes potential suitors for
the hotel/casino company could be Golden Nugget Inc &lt;GNG>, or
Tracinda Corp, a company controlled by investor Kirk Kirkorian.
    Golden Nugget has a good deal of cash on hand as the result
of the sale of its Atlantic City, N.J., casino to Bally
Manufacturing Corp &lt;BLY>, Roffman said.
    Earlier this month Golden Nugget completed its sale of the
Atlantic City property for 440 mln dlrs.
    Roffman also believes Kerkorian is interested in getting
involved in the gaming business.
    Mark Manson, an analyst at Donaldson Lufkin Jenrette, said
options available to Ceasars also include a restructuring in
the form of a selloff of individual properties, a stock buyback
or forming a master limited partnership.
    "Very few of these options would weaken the value of the
company," Manson said, but he declined to speculate on which
approach Caesars might take.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9857" NEWID="4944">
<DATE>13-MAR-1987 13:52:07.17</DATE>
<TOPICS><D>interest</D><D>gnp</D><D>ipi</D><D>wpi</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;f0996&#31;reute
u f BC-/FED-SEEN-CONTENT-WIT   03-13 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>FED SEEN CONTENT WITH U.S. FEBRUARY ECONOMY</TITLE>
<AUTHOR>    By Kathleen Hays, Reuters</AUTHOR>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>U.S. February reports reflecting slim
gains in industrial output and moderating inflation pressures
reinforced expectations that the Federal Reserve will continue
to follow a stable course of monetary policy, economists said.
    "If you're the Fed, there's no reason to do anything," said
Steve Slifer of Lehman Government Securities Inc.
    "There are hints that GNP is picking up. On the inflation
front, all is well," he said. "Money supply is well under
control. It's an absolutely ideal situation."
    February U.S. industrial production rose 0.5 pct, slightly
less than the 0.7 pct gain the financial markets had expected.
This compared with a slim 0.1 pct rise in January's production
number, previously reported as a 0.4 pct increase.
    The February U.S. producer price index gained only 0.1 pct,
less than a 0.3-0.4 pct expected rise. This followed a 0.6 pct
rise in the PPI in January.
    "The Fed is going to look at this positively," said Allan
Leslie of Discount Corporation. "Certainly inflation is not as
bad as what Volcker (Fed Chairman) has said lately. Industrial
production growth is along the lines of what the Fed wants."
    The energy products component of PPI rose 4.0 pct in
February, after a 9.8 pct increase in January.
    "This shows that the impact of energy prices on inflation
is behind us in terms of the move from 15 dlrs to 18 dlrs per
barrel," said Maria Ramirez of Drexel Burnham Lambert Inc. "The
trend is still 3.5 pct in the first half of the year."
    In 1986, declining energy prices contributed to a 2.5 pct
decline in the PPI.
    Economists said that a rise in energy prices was expected,
but a sharp drop in auto prices was not. Passenger car prices
fell 3.4 pct and light truck prices dropped 1.3 pct.
    Yesterday, Federal Reserve Chairman Paul Volcker said that
a possibility of renewed inflation remains a concern in both
the financial markets and the Federal Reserve.
    "The Fed may be lowering its own inflation expectations
today," said Robert Brusca of Nikko Securities International.
    While low inflation permits the Fed to maintain an easier
monetary policy, Brusca said if import prices do not rise this
could necessitate a weaker dollar.
    "The outlook for the dollar is still up in the air," he
said. "We need inflation for U.S. producers to compete with
foreign producers."
    Brusca said prices of electronic equipment dropped 0.8 pct
in February's PPI. With many electronic goods produced
overseas, this may show that foreign producers are not raising
prices which bodes ill for U.S. competitiveness, he said.
    If further dollar declines are needed, this could diminish
overseas investment in U.S. debt, Brusca added, which might
necessitate higher interest rates and lower bond prices.
    By contrast, Slifer said imported goods prices rose 11.8
pct from first quarter 1985 to first quarter 1986 reflecting to
a large degree a 22 pct drop in the trade-weighted real value
of the dollar from February 1985 to February 1987.
    Slifer said import prices may rise further as
manufacturers' contracts put in place before the dollar dropped
to current levels expire, and new contracts are made that
reflect a weaker dollar.
    David Wyss of Data Resources Inc noted that imported
manufactured goods prices rose 8.5 pct at an annual rate in the
second half of 1986, which has contributed to rising U.S.
industrial output.
    "It's the other side of the lower dollar," Wyss said.
"Producers are beginning to find themselves more competitive
and they are increasing output."
    Wyss said that the latest data point to an average
industrial production gain of 0.3-0.4 pct in the first quarter.
"It's an encouraging sign that the manufacturing sector is
beginning to revive."
    But Stephen Roach of Morgan Stanley and Co Inc was not 
convinced that the February reports portend economic gains. He
said much of the strength came from factors that do not point
to a sustained rise in industrial output.
    Roach pointed out that stikers returning to work in farm
equipment industries helped account for a one pct rise in
February business equipment production.
    Utilities output rose 0.7 pct in February after gaining 1.2
pct in January, but Roach said it shows mostly that more energy
was produced, not that manufacturing activity gained.
    Finally, he pointed out that auto production accounted for
half of the industrial production gain as production of auto
assemblies rose to 8.3 million units at an annual rate from 7.5
million units.
    "In the first quarter, it looks like automakers are
producing at an 8.5 mln unit annual rate, but selling at
roughly a seven mln unit rate," Roach said. "The disparity
between output and sales is showing up in inventories."
    Economists pointed to sharp rise in January U.S. business
inventories as a sign that production may be outstripping
demand in the first quarter of 1987.
    January business inventories rose 0.9 pct, the largest gain
since July 1979 when inventories rose 1.7 pct, the Commerce
Department said. Business sales dropped 4.5 pct in January, the
largest monthly sales drop on record.
    Nonetheless, economists do not expect the Fed to react to
month-to-month changes. "The Fed has been standing pat for the
last seven months," Ramirez said. "They will continue to stand
pat for at least the next couple of months."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9858" NEWID="4945">
<DATE>13-MAR-1987 13:54:00.52</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0005&#31;reute
r f BC-PHILADELPHIA-ELECTRIC   03-13 0031</UNKNOWN>
<TEXT>&#2;
<TITLE>PHILADELPHIA ELECTRIC &lt;PE> REDEEMING PREFERRED</TITLE>
<DATELINE>    PHILADELPHIA, March 13 - </DATELINE><BODY>Philadelphia Electric Co said on
May One it will redeem its 17.125 pct preferred stock at 111.50
dlrs per share.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9859" NEWID="4946">
<DATE>13-MAR-1987 13:55:44.22</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L
&#22;&#22;&#1;f0009&#31;reute
d f BC-U.S.-FARM-LOAN-SECOND   03-13 0142</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. FARM LOAN SECONDARY MARKET GAINS SUPPORT</TITLE>
<AUTHOR>    By Greg McCune, Reuters</AUTHOR>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>A secondary market for resale of
farm real estate loans similar to markets on home mortgages is
gaining support in Congress and among rural lenders and could
be set up this year, Congressional and financial sources said.
    Several bills which would establish a farm secondary market
have been introduced in both the House and Senate. Furthermore,
Representatives of the Farm Credit System, commercial bankers
and life insurance companies are meeting in an attempt to agree
on a method of establishing the market.
    Frank Naylor, chairman of the Farm Credit Administration,
FCA, which regulates the farm credit system, yesterday said a
farm loan secondary market would be positive for agriculture
"as long as the farm credit system is a key player."
    Naylor told a House Agriculture subcommittee hearing the
secondary market could be established either with Congressional
legislation or administratively.
    Any farm loan secondary market would be modeled after the
successful resale markets in home mortgages, the Government
National Mortgage Association, GNMA, and the Federal Home Loan
Mortgage Corporation (Freddie Mac), industry sources said.
    Commercial banks and life insurance companies are the main
supporters of a farm loan secondary market since they believe
it would allow private lenders to compete more effectively in
rural lending with the quasi-government farm credit system,
traditionally the largest lender to farmers.
    A farm secondary market would allow lenders to sell
high-quality loans on farmland to "poolers," who in turn would
package the loans and issue farm mortgage-backed securities for
resale to investors -- called Aggie-mae by some proponents.
    The FCA and financially-troubled farm credit system have in
the past been ambivalent about the idea, mainly because any
farm secondary market established in the private sector which
excluded the farm credit system would put the system at a
competitive disadvantage and could be another financial blow to
the system, which has lost 4.6 billion dlrs in two years,
Naylor and farm credit system officials have said.
    However, the system and FCA have become more positive to
the idea recently because the system could benefit if it were
appointed the agent for a secondary market.
    "If the farm credit system were the guarantor of the pools
of farm mortgage loans, it would benefit from the fees charged
for providing this service," the Life Insurers' study said.
    Congressional sources believe a secondary market available
to both private lenders and the farm credit system, with the
system as agent, could be included in a major federal
government rescue package for the system to be drafted by
Congress later this year.
    A study commissioned by one of the main supporters of the
secondary market idea, the American Council of Life Insurers,
concludes that the farm credit system's market share in rural
lending would fall if a secondary market were established.
    The study was released earlier today.
    The study said a secondary market could be established with
virtually no federal money if the government provided a
guarantee of 90 pct of the farm loans but a private
co-insurance plan guaranteed the first 10 pct of any losses.
    It estimated between 500 mln and two billion dlrs of the
eight billion in new farm real estate loans issued each year
would qualify for the secondary market in the first few years,
expanding significantly later as investors accept the idea.
    The study also said interest rates charged to farmers who
meet the underwriting standards of a secondary market would
fall 50 to 100 basis points due to the new resale market.
    The possible interest rate declines are a major reason why
leading U.S. farm organizations such as the American Farm
Bureau Federation have recently endorsed the idea.
    Proponents say a secondary market also would increase
liquidity in farm lending, and spread the risk of such loans.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9860" NEWID="4947">
<DATE>13-MAR-1987 13:57:10.21</DATE>
<TOPICS></TOPICS>
<PLACES><D>ecuador</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM A
&#22;&#22;&#1;f0015&#31;reute
u f AM-debt-ecuador   03-13 0090</UNKNOWN>
<TEXT>&#2;
<TITLE>ECUADOR UNABLE TO SERVICE DEBT - CENTRAL BANK</TITLE>
<DATELINE>    Quito, march 13 - </DATELINE><BODY>ecuador cannot service its debt owed to
private foreign banks due to the earthquake that forced a
suspension of crude oil exports, central bank officials said.
    "we hope to obtain a tacit, explicit acceptance from foreign
banks ... that we are not able to service the debt," central
bank president carlos julio emanuel said.
    "the reality is that our debt service capacity has been
totally affected by the recent cataclysm," he added in a news
conference last night.
    A central bank spokesman said emanuel was referring to
payments owed private foreign banks, already suspended since
january. These banks hold two-thirds of the country's 8.16
billion dollar foreign debt.
    Emanuel was not refering to debts to foreign governments
and multilateral organisations, the spokesman said.
    The march 5 earthquake damaged an oil pipeline, preventing
crude exports for a projected five months. Oil generates about
two-thirds of ecuador's total exports and as much as 60 per
cent of the government's revenues.
    Emanuel did not specify how long ecuador would be unable
service private foreign banks. But finance minister domingo
cordovez said two days ago the government is seeking to
postpone all payments due to private foreign banks in 1987
until next year through negotiations with creditors.
    Emanuel said ecuador was seeking soft loans from
multilateral organisations for reconstruction work. It also
wanted a "reprogramming" of already-approved loans, an apparent
reference to the disbursement schedule of thee credits.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9861" NEWID="4948">
<DATE>13-MAR-1987 14:00:27.30</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0022&#31;reute
d f BC-FORMER-SANTA-FE-EXEC   03-13 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>FORMER SANTA FE EXEC ADMITS INSIDER TRADING</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>Darius N. Keaton, former member of the
board of &lt;Santa Fe International Corp>, pleaded guilty to an
insider trading scheme that netted him 274,800 dlrs in profit.
    In Manhattan Federal Court, Keaton pleaded guilty to
trading on non-public information involving his purchase of
10,000 shares of the company's stock in September 1981 shortly
before the company was acquired by Kuwait Petroleum Co in 1982
for two billion dlrs.
    Keaton, 62, of Monterey, Calif., admitted he failed to
report the purchase to the Securities and Exchange Commission,
and admitted commiting wire fraud stemming from his
transaction.
    He faces up to 10 years in prison on both counts, and a
fine of 11,000 dlrs when he is sentenced by Judge Whitman Knapp
on June 1.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9862" NEWID="4949">
<DATE>13-MAR-1987 14:00:55.35</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F RM
&#22;&#22;&#1;f0024&#31;reute
f f BC-******S/P-DOWNGRADES   03-13 0014</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>S/P DOWNGRADES FOUR TEXAS BANKS, AFFECTS COMBINED 800 MLN DLRS DEBT, PREFERRED
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9863" NEWID="4950">
<DATE>13-MAR-1987 14:01:59.94</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0028&#31;reute
b f BC-******K-MART-SEES-198   03-13 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>K MART SEES 1987 SALES OF 26 BILLION DLRS, UP FROM 23.8 BILLION IN 1986
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9864" NEWID="4951">
<DATE>13-MAR-1987 14:03:09.93</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;f0035&#31;reute
r f BC-MOBIL-&lt;MOB>-CAPITAL-E   03-13 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>MOBIL &lt;MOB> CAPITAL EXPENDITURES LOWER IN 1987</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>Mobil Corp chairman Allen E. Murray
said in the annual report issued today that the company's total
1987 capital expenditures would be lower than the three
billion dlrs spent in 1986.
    "Overall capital and exploration expenditures will fall
slightly below the level for 1986 although we'll be ready to
increase spending whenever the outlook becomes more promising,"
Murray said.
    Mobil data in the annual report shows capital expenditures
have been cut every year since 1984's 3.6 billion dlrs to 3.5
billion dlrs in 1985.
    Murray told shareholders that despite the cuts "the company
has promising acreage to explore as well as major oil and gas
reserves to develop in the U.S., Canada, Europe, Africa and
Indonesia.
    Over the past two weeks Mobil has announced restructuring
of its domestic exploration and development organization and
this week a restructuring of its oil services units, which
support the new affiliate.
    "Mobil's chairman has explained this change by saying we
need a leaner organization to get more efficient usage from our
assets," said John Lord, a Mobil Corp spokesman.
    Murray said in announcing the first reorganization, which
will combine its current three exploration and producing
affiliates into one organization, Mobil Exploration and
Production U.S. Inc, that it is more effective than the present
organization and will improve the company's upstream
competitive position.
    Yesterday the company said that it will restructure its
Mobil Exploration and Producing Services Inc, MEPSI, to enhance
the development and transfer of technology supporting critical
areas of exploration, drilling, resevoir management and
computer systems.
    Earnings from Mobil's upstream operations in 1986 were 827
mln dlrs, down 54 pct from the previous year's 1.8 billion dlrs
in earnings.
    Mobil's strategy in the exploration and production sector
will be to give most attention to exploration possibilities
with the greatest long term potential, the company said.
    In its annual report, Mobil said that this will include
greater emphasis on "frontier plays that, although riskier, fit
our strengths of technology and size...This probably also means
a shift toward emphasis in the foreign area since selective
overseas exploration offers greater potential."
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9865" NEWID="4952">
<DATE>13-MAR-1987 14:04:31.81</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;f0042&#31;reute
u f BC-INTERCONNECT-PREFERS   03-13 0044</UNKNOWN>
<TEXT>&#2;
<TITLE>INTERCONNECT PREFERS FRIENDLY GATES &lt;GLJ> OFFER</TITLE>
<DATELINE>    STAMFORD, Conn., March 13 - </DATELINE><BODY>&lt;Interconnect Capital> said it
seeks to acquire Gates Learjet Corp on friendly terms.
    Late yesterday the company said it has offered 7.07 dlrs
per share for all Gates Learjet shares.
    Interconnect Capital said it intends to purchase the &lt;Gates
Corp> loan to Gates Learjet for 13 mln dlrs should its bid be
successful.
    Interconnect Capital is controlled by &lt;Interconnect Inc>.
    Gates Corp owns 64.8 pct of Gates Learjet.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9866" NEWID="4953">
<DATE>13-MAR-1987 14:05:26.20</DATE>
<TOPICS><D>crude</D><D>ship</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;f0048&#31;reute
u f AM-BRAZIL-STRIKES   03-13 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZILIAN TROOPS TO LEAVE OIL REFINERIES</TITLE>
<AUTHOR>    By Stephen Powell, Reuters</AUTHOR>
<DATELINE>    SAO PAULO, MARCH 13 - </DATELINE><BODY>Brazil's labour troubles eased a
little today as the authorities announced they were withdrawing
troops from the country's main oil installations occupied three
days ago.
    The troops went in at the request of the state-oil company
Petrobras because of the threat of a strike by 55,000 oil
industry employees.
    Petrobras said in a statement today it had requested the
withdrawal of the troops. The situation in the refineries was
calm, it said, and the employees had indicated their
willingness to negotiate a pay deal.
    A national seamen's strike, however, continued and marines
remained in the country's main ports. The marines were
despatched to the ports after the seamen's strike, now two
weeks old, was ruled illegal last Friday.
    A spokesman at the national strike headquarters in Rio de
Janeiro said today a total of l63 ships were strike-bound, 135
in Brazil and 28 in foreign ports.
    Yesterday two small companies specialised in the transport
of chemicals, Global and Flumar, struck a pay accord with their
seamen who have secured a 120 pct increase.
    Brazilian newspapers today hailed these agreements as a
sign that the national strike could soon come to an end.
    Both companies employ fewer than 200 seamen and union
leaders said the vast majority of Brazil's 40,000 seamen were
still on strike.
    The threat of a stoppage by oil industry employees appeared
today to be receding. Petrobras said in its statement that the
company would meet union leaders for pay talks in Rio de
Janeiro next Wednesday.
    Labour Minister Almir Pazzionotto would act as a mediator.
    Besides industrial troubles, there has also been
considerable unrest this week in the agricultural sector.
    On Tuesday hundreds of thousands of farmers held rallies
throughout the country to protest against high interest rates.
    Television reports showed some of these protests still
continuing today, with farmers blockading banks with their
vehicles in several towns in the states of Sao Paulo and
Parana.
    The strikes in Brazil come as the government is trying to
extricate itself from a serious debt crisis brought on by a
deterioration in its trade balance.
    On February 20 President Jose Sarney announced that Brazil
was suspending interest payments on 68 billion dlrs of debt to
private banks.
    Because of the seamen strike exports are being delayed and
the country is losing badly needed foreign exchange.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9867" NEWID="4954">
<DATE>13-MAR-1987 14:06:30.88</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;f0054&#31;reute
h f BC-INFINITE-GRAPHICS-INC   03-13 0052</UNKNOWN>
<TEXT>&#2;
<TITLE>INFINITE GRAPHICS INC &lt;INFG> 3RD QTR JAN 31 NET</TITLE>
<DATELINE>    MINNEAPOLIS, MINN.,March 13 -
    </DATELINE><BODY>Shr profit two cts vs loss 11 cts
    Net profit 31,734 vs loss 190,677
    Sales 1,325,978 vs 1,029,921
    Nine Mths
    Shr profit eight cts vs loss 53 cts
    Net profit 142,200 vs loss 939,435
    Sales 4,066,777 vs 2,793,479
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9868" NEWID="4955">
<DATE>13-MAR-1987 14:06:36.04</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;f0055&#31;reute
w f BC-MINDSCAPE-BUYS-HARCOU   03-13 0063</UNKNOWN>
<TEXT>&#2;
<TITLE>MINDSCAPE BUYS HARCOURT BRACE &lt;HBJ> UNIT</TITLE>
<DATELINE>    NORTHBROOK, ILL., March 13 - </DATELINE><BODY>(Mindscsape Inc) said it
agreed to buy the educational software unit of Holt, Rinehart
and Winston Inc, a subsidiary of Harcourt Brace Jovanovich Inc,
for undisclosed terms.
    Sales of the division, which had been purchased by Holt,
Rinehart from CBS, peaked at about 10 mln dlrs in 1985,
Mindscape said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9869" NEWID="4956">
<DATE>13-MAR-1987 14:06:40.65</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;f0056&#31;reute
s f BC-HEALTH-MOR-INC-&lt;HMI>   03-13 0023</UNKNOWN>
<TEXT>&#2;
<TITLE>HEALTH-MOR INC &lt;HMI> SETS DIVIDEND</TITLE>
<DATELINE>    LOMBARD, Ill., March 13 - 
    </DATELINE><BODY>Qtly dividend 17 cts vs 17 cts
    Pay April 10
    Record March 26
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9870" NEWID="4957">
<DATE>13-MAR-1987 14:08:36.89</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0061&#31;reute
u f BC-U.S.-VIDEO-&lt;VVCO>-SAY   03-13 0083</UNKNOWN>
<TEXT>&#2;
<TITLE>U.S. VIDEO &lt;VVCO> SAYS NOTE IS CALLED BY LENDER</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>United States Video Vending Corp said
&lt;Hill International Inc> called a 260,000 dlr promissory note
that is collateralized by the assets of United States Video.
    The company, which has two days to repay the note, said 
there is no assurance it will be able to find the funds needed
to meet the payment.
    Hill International said in January that it holds 5.9 pct of
United States Video's outstanding stock, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9871" NEWID="4958">
<DATE>13-MAR-1987 14:09:37.06</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0062&#31;reute
d f BC-ALC-&lt;ALCC>-OPPOSES-JU   03-13 0104</UNKNOWN>
<TEXT>&#2;
<TITLE>ALC &lt;ALCC> OPPOSES JUSTICE DEPARTMENT PROPOSALS</TITLE>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>ALC Communications Corp said it
urged the U.S. District Court in Washington not to allow the
regional Bell companies to offer long distance telephone
services.
    ALC, parent of Allnet Communications Services, a long
distance carrier, said it made the request in comments filed
with the court on a Department of Justice proposal to free the
regional Bell companies from various business restrictions.
Under terms of the divestiture of American Telephone and
Telegraph Co &lt;T>, the Bell companies are prohibited from
providing long distance services.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9872" NEWID="4959">
<DATE>13-MAR-1987 14:10:12.83</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0063&#31;reute
f f BC-******CAESARS-WORLD-S   03-13 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>CAESARS WORLD SAYS IT CONSIDERS RESTRUCTURING AND SALE TO OTHER COMPANY
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9873" NEWID="4960">
<DATE>13-MAR-1987 14:14:15.08</DATE>
<TOPICS><D>earn</D></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0067&#31;reute
f f BC-******FAIRCHILD-INDUS   03-13 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FAIRCHILD INDUSTRIES INC 4TH QTR OPER SHR LOSS 44 CTS VS LOSS EIGHT CTS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9874" NEWID="4961">
<DATE>13-MAR-1987 14:14:32.45</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0068&#31;reute
b f BC-******FAIRCHILD-INDUS   03-13 0012</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>FAIRCHILD INDUSTRIES TERMINATES T46A TRAINER PROGRAM, CLOSES PLANT
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9875" NEWID="4962">
<DATE>13-MAR-1987 14:16:03.32</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;F Y
&#22;&#22;&#1;f0069&#31;reute
r f BC-MOBIL-&lt;MOB>-ADDS-NATU   03-13 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>MOBIL &lt;MOB> ADDS NATURAL GAS RESERVES IN 1986</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>Mobil Corp increased net proven
reserves of natural gas liquids in 1986 from the previous year
according to data in its 1986 annual report.
    The report states that total net proved reserves at year's
end stood at 2.5 billion barrels, an increase of 94 mln barrels
or four pct above the previous year and detailed data show that
the gains resulted from an increase in net proved reserves of
natural gas liquids.
    Mobil said gains were in Indonesia where a sixth production
facility began operation in October with a capacity to
manufacture 1.7 mln tonnes of liquified natural gas.
    The company also said that new capacity brought onstream
last year replaced 120 pct of Mobil's production, which
declined by about four pct in 1986 from the previous year.
    Detailed data on reserves shows that U.S. net proved
reserves of crude oil fell to 837 mln barrels from 853 mln
barrels in 1985, natural gas liquid reserves were also lower in
1986 from the previous year.
    Net proved crude oil reserves also fell in Canada to 224
mln barrels and in Europe to 403 mln barrels from the previous
year's level of 231 mln barrels and 439 mln barrels,
respectively.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9876" NEWID="4963">
<DATE>13-MAR-1987 14:16:25.10</DATE>
<TOPICS><D>acq</D></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;G
&#22;&#22;&#1;f0070&#31;reute
d f BC-ARCO-SELLS-TWO-AGRICU   03-13 0087</UNKNOWN>
<TEXT>&#2;
<TITLE>ARCO SELLS TWO AGRICULTURAL RESEARCH OPERATIONS</TITLE>
<DATELINE>    LOS ANGELES, March 13 - </DATELINE><BODY>Atlantic Richfield Co said it sold
its Plan Cell Research Institute unit and its Arco Seed Co
operations in two transactions for undisclosed prices.
    The company said it sold Dublin, Calif.-based Plant Cell
Research to Montedision SpA of Milan, Italy, and ARCO Seed Co
to U.F. Genetics of Hollister, Calif.
    Atlantic Richfield said the divestitures are in line with
its policy of focusing resources on oil, gas, chemical and coal
operations.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9877" NEWID="4964">
<DATE>13-MAR-1987 14:16:32.63</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;f0071&#31;reute
u f BC-CAESARS-WORLD   03-13 0085</UNKNOWN>
<TEXT>&#2;
<TITLE>CAESARS WORLD &lt;CAW> SAYS IT MULLS RESTRUCTURING</TITLE>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>Caesars World Inc, in rejecting a 28
dlr a share takeover bid by New York investor Martin Sosnoff,
said it is considering alternatives that include a
restructuring of the company and the sale to someone else.
    In a filing with the Securities and Exchange Commission,
Caesars World said its board decided at a special meeting
yesterday to "explore and investigate" several alternatives in
an effort to thwart Sosnoff's takeover attempt.
 More
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9878" NEWID="4965">
<DATE>13-MAR-1987 14:21:26.80</DATE>
<TOPICS><D>sugar</D></TOPICS>
<PLACES><D>uk</D><D>ussr</D><D>china</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C T
&#22;&#22;&#1;f0080&#31;reute
u f BC-LOW-SUGAR-PRICES-MAY   03-13 0095</UNKNOWN>
<TEXT>&#2;
<TITLE>LOW SUGAR PRICES MAY ATTRACT SOVIET/CHINESE</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>Any further decline in raw sugar prices
is likely to attract buying from the Soviet Union and China,
Woodhouse, Drake and Carey said in their latest weekly market
report.
    Present lower terminal values may be a reflection of the
lack of renewed prompt offtake, particularly from these two
large consumers, the report said.
    The week has seen good demand for Thai raws, particulary
for October/December shipment, which has traded above twenty
points premium to the October New York delivery, it said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9886" NEWID="4966">
<DATE>13-MAR-1987 14:22:41.27</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;f0083&#31;reute
u f BC-S/P-DOWNGRADES-FOUR-T   03-13 0102</UNKNOWN>
<TEXT>&#2;
<TITLE>S/P DOWNGRADES FOUR TEXAS BANKS</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>Standard and Poor's Corp said it
downgraded four Texas banks in a move that affects a combined
800 mln dlrs of debt securities and preferred stock.
    Cut were the debt ratings of Allied Bancshares Inc &lt;ALBN>,
First Amarillo Bancorp Inc &lt;FAMA>, MCorp &lt;M> and Texas American
Bancshares Inc &lt;TXA>.
    S and P cited continuing asset quality problems.
    While problem energy loans appear to be abating, real
estate problems are mounting, S and P said. The rating agency
also said it expects earnings to remain under pressure for the
remainder of this year.
    Standard and Poor's reduced Allied Bancshares' senior debt
to BBB-minus from BBB and commercial paper to A-3 from A-2.
Issues supported by a letter of credit from lead bank Allied
Bank of Texas, and the bank's certificates of deposits, were
reduced to BBB-minus and A-3 from BBB and A-2 respectively.
    Allied has 50 mln dlrs of debt outstanding. S and P said
its profitability remains severely depressed.
    S and P cut First Amarillo's 15 mln dlrs of subordinated
debt to CCC-minus from B-minus. The institution's implied
senior debt rating is CCC-plus. S and P noted that First
Amarillo has had three consecutive years of losses.
    S and P downgraded MCorp's senior debt to BBB-minus from
BBB-plus, subordinated debt to BB-plus from BBB, preferred to
BB-minus from BB and commercial paper to A-3 from A-2.
    That affected 600 mln dlrs of debt. S and P cited rising
non-performing loans and high loan-loss provisions.
    Also, the agency cut to BBB-minus and A-3 from BBB-plus and
A-2, respectively, CDs and issues supported by letters of
credit from the units MBank Dallas and MBank Houston.
    S and P cut to BB from BBB-minus Texas American's 65 mln
dlrs of senior debt. Lead bank Texas American Bank NV's CDs
were lowered to BB-plus/B from BBB-minus/A-3.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9879" NEWID="4967">
<DATE>13-MAR-1987 14:23:30.82</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0086&#31;reute
r f BC-K-MART-&lt;KM>-SEES-SALE   03-13 0096</UNKNOWN>
<TEXT>&#2;
<TITLE>K MART &lt;KM> SEES SALES INCREASING</TITLE>
<DATELINE>    TROY, Mich., March 13 - </DATELINE><BODY>K Mart Corp will sell 26 billion
dlrs worth of goods in 1987, up from 23.8 billion dlrs in sales
in 1986, chairman Bernard M. Fauber predicted.
    The K Mart official also said the company is committed to
"retail automation," and will equip all K Mart stores with slot
scanning point of sale register systems. Some 400 systems are
already in place.
    Fauber said each K Mart costs five mln dlrs, including
land, building, fixtures, equipment and inventory. Each store
serves an average 90,000 customers, he said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9880" NEWID="4968">
<DATE>13-MAR-1987 14:23:44.54</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0088&#31;reute
d f BC-PROPOSED-OFFERINGS   03-13 0091</UNKNOWN>
<TEXT>&#2;
<TITLE>PROPOSED OFFERINGS RECENTLY FILED WITH THE SEC</TITLE>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>The following proposed securities
offerings were filed recently with the Securities and Exchange
Commission:
    Essex Chemical Corp &lt;ESX> - Offering of 60 mln dlrs of
convertible subordinated debentures due 2012 through Thomsom
McKinnon Securities Inc and PaineWebber Inc.
    International Game Technology &lt;IGAM> - Offering of 35 mln
dlrs of senior notes due 1995 and 25 mln dlrs of convertible
senior subordinated deberntures due 2002 through Drexel Burnham
Lambert Inc.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9901" NEWID="4969">
<DATE>13-MAR-1987 14:24:33.62</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0090&#31;reute
u f BC-TALKING-POINT/BANK-ST   03-13 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>TALKING POINT/BANK STOCKS</TITLE>
<AUTHOR>    By Cal Mankowski, Reuters</AUTHOR>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>CitiCorp &lt;CCI> appears to be digging
in its heels for tough negotiations over the billions of
dollars in loans that Brazil owes to money center banks, Wall
Street analysts said.
    "I view it as pre-negotiation posturing," said analyst
Carole Berger of Cyrus J. Lawrence Inc, referring to both
Brazil and Citicorp. Brazil recently stopped paying interest on
its commercial bank debt. Today, CitiCorp said its first
quarter income would be reduced by 50 mln dlrs after tax if it
lists the loans as non-performing status.
    Citicorp filed an 8-K form with the Securities and Exchange
Commission, indicating a material change in its financial
situation. "Citicorp is saying  you can't scare us with
threats, we'll make your loans non-performing right now,"
Berger said.
    The loans have to be treated as non-performing after 90
days without a payment. CitiCorp said only that the situation
will be reviewed at the end of the current quarter.
    Berger asserted that Brazil is doing its own politicking by
talking to U.S. regulators and trying to drive a wedge between
U.S. and European banks.
    Analyst Lawrence Cohn of Merrill Lynch and Co said it is
unlikely the situation will be resolved until the second half
of this year.
    "Ultimately the Brazilians are going to have to pay up on
all the interest they owe," Cohn said. "The real issue is the
rescheduling of debt terms.
    Another question is whether or not the International
Monetary Fund can help Brazil with a new austerity program.
    Stocks of money center banks were mostly down fractions in
late dealings. One trader most stocks in the group bounced off
their lows by midday as investors took the news in stride.
    Cohn said the bank stocks may be risky until numbers on
non-performing loans are reported for each bank. But he said
investors looking ahead six to 12 months might want to buy at
present levels for the "tremendous fundamental values" in the
group.
    Analyst Robert Gordon of Shearson Lehman Brothers Inc said
Manufacturers Hanover Corp &lt;MHC) has the greatest exposure to
Brazilian loans of any New York bank, in terms of percentage of
earnings. He said his only two recommendations currently among
New York banks are J.P. Morgan and Co &lt;JPM> and Bankers Trust
Co &lt;BT> which happen to have the least exposure.
    Gordon said his positive opinion on J.P. Morgan and Bankers
Trust was not merely a response to the fact that the two have
lower exposure to Brazilian loans than other banks. 
    In fact he said there's a chance those banks could get more
involved in the future. He noted that Morgan has already set up
a brokerage subsidiary to deal in loans to less developed
countries.
    "I don't see any reason to change full year earnings
estimates, said Frederick Meinke, analyst at E.F. Hutton Co. He
thinks the confrontation with Brazil could end in a replay of a
situation that occurred with Argentina in 1984 and 1985.
    Meinke noted that in the case of Argentina the loans became
non-accruing for a couple of quarters but then when the banks
came to an agreement with Argentina all the back interest was
paid. "What it did was distort the quarterly earnings pattern,"
he said.
    He said in the case of Brazil write-offs of loans is a
worst-case outcome which is highly unlikely. He noted that
Brazil is a country with a diversified economy, going through
some economic upheaval after the transition from a military to
a civilian government.
    "The countries of Latin America have too much debt relative
to their ability to service it," said John Mason of
Interstate Securities. "We've been fiddling around with these
problems for five years and the hour is growing late."
    He said up to now the banks have reduced their spreads, cut
interest rates internally and extended maturities and none of
these measures has been enough. He expects re-classification of
as much as a third of the loans as non-accruing and he sees
partial write downs of some loans.
    Nevertheless Mason thinks the money center bank stocks 
could be poised for a short term rally.
    A spokesman at First Chicago Corp &lt;FNB> said it is
premature to put Brazil's loans on a cash basis. "It is our
expectation that economic development will allow Brazil to meet
its debt," a spokesman said.
    Bankers Trust in New York said it would be premature to
make a decision. Several other banks queried by Reuters said
much the same thing.
    A spokesman at Manufacturers Hanover noted that of 2.3
billion dlrs in loan exposure to Brazil only 1.3 billion is
subject to Brazil's unilateral moratorium on repayment of
interest.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9881" NEWID="4970">
<DATE>13-MAR-1987 14:24:53.75</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;f0092&#31;reute
u f BC-CHEMLAWN-&lt;CHEM>-SEEKS   03-13 0067</UNKNOWN>
<TEXT>&#2;
<TITLE>CHEMLAWN &lt;CHEM> SEEKS BIDS BY MARCH 18</TITLE>
<DATELINE>    COLUMBUS, Ohio, March 13 - </DATELINE><BODY>ChemLawn corp said it has asked
potential purchasers of the company to submit their proposals
by 1700 EST on March 18.
    ChemLawn said if Waste Management Inc &lt;WMX> intends to
participate in the bidding process, it will have to submit a
confidentiality agreement to Chemlawn financial advisor Smith
Barney, Harris Upham and Co Inc.
    Waste Management has a 27 dlr per share tender offer for
Chemlawn underway that Chemlawn has already rejected as
inadequate.
    Chemlawn has already said it is holding talks with various
parties on the sale of the company and said it has informed all
potential purchasers that they mnust sign confidentiality
agreemnents to receive confidential information on Chemlawn.
    ChemLawn said if Waste Management were to sign such an
agreement, ChemLawn would supply it with the same information
being supplied to other potential purchasers. But it said it
will not make an exception for Waste Management which would
give that company an advantage in the bidding process.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9882" NEWID="4971">
<DATE>13-MAR-1987 14:26:01.46</DATE>
<TOPICS></TOPICS>
<PLACES><D>argentina</D></PLACES>
<PEOPLE><D>machinea</D></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G L M T
&#22;&#22;&#1;f0098&#31;reute
r f BC-ARGENTINE-DEBT-TALKS   03-13 0131</UNKNOWN>
<TEXT>&#2;
<TITLE>ARGENTINE DEBT TALKS DIFFICULT-CENTRAL BANK HEAD</TITLE>
<DATELINE>    BUENOS AIRES, March 13 - </DATELINE><BODY>Central Bank President Jose Luis
Machinea said negotiations with creditor banks on Argentina's
30 billion dlr private sector foreign debt were difficult.
    "There is considerable divergence with the banks. We must
try to get them to lower the spreads," Machinea told Reuters.
    He said negotiations with the steering committee for the
country's creditor banks in New York would not end next week.
    Machinea leaves for New York tomorrow with Treasury
Secretary Mario Brodersohn to complete Argentina's team at
negotiations with the steering committee for a 2.15 biilion dlr
loan to see the country through 1987.
    Argentina is aiming at four pct growth in 1987 and has said
this target is not negotiable.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9883" NEWID="4972">
<DATE>13-MAR-1987 14:27:45.69</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;f0102&#31;reute
d f BC-GTS-CORP-&lt;GTSC>-4TH-Q   03-13 0072</UNKNOWN>
<TEXT>&#2;
<TITLE>GTS CORP &lt;GTSC> 4TH QTR DEC 31 LOSS</TITLE>
<DATELINE>    HOUSTON, March 13 -
    </DATELINE><BODY>Shr loss 48 cts vs loss 10 cts
    Net loss 1,234,000 vs loss 259,000
    Revs 715,000 vs 1,941,000
    Year
    Shr loss 1.26 dlrs vs loss 34 cts
    Net loss 3,229,000 vs loss 870,000
    Revs 3,001,000 vs 9,767,000
    NOTE: 1986 net both periods includes 672,300 dlr writedown
of value of seismic laboratory and 165,000 dlr increase in
reserve for doubtful accounts.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9884" NEWID="4973">
<DATE>13-MAR-1987 14:29:22.71</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0103&#31;reute
u f BC-AMERICAN-MOTORS-&lt;AMO>   03-13 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>AMERICAN MOTORS &lt;AMO> EARLY MARCH SALES OFF</TITLE>
<DATELINE>    SOUTHFIELD, MICH., March 13 - </DATELINE><BODY>American Motors Corp said its
U.S. sales for the March 1-10 period dropped 57 pct to 760 cars
from 1,780 cars in the same period last year.
    There were eight selling days in both years.
    Domestic sales for the calendar year-to-date fell 61 pct to
5,682 cars from 14,641 cars in the comparable period of 1986,
American Motors, controlled by Renault of France, said.
    Jeep sales in early March rose 18 pct to 4,500 vehicles
from 3,800 vehicles at the same time last year, and for the
year-to-date declined two pct to 35,523 from 36,050 vehicles in
the comparable period, American Motors said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9885" NEWID="4974">
<DATE>13-MAR-1987 14:30:03.16</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;f0104&#31;reute
u f BC-FAIRCHILD-INDUSTRIES   03-13 0065</UNKNOWN>
<TEXT>&#2;
<TITLE>FAIRCHILD INDUSTRIES INC &lt;FEN> 4TH QTR LOSS</TITLE>
<DATELINE>    CHANTILLY, Va., March 13 -
    </DATELINE><BODY>Oper shr loss 44 cts vs oper loss eight cts
    Oper net loss 3,158,000 vs profit 2,035,000
    Rev 166.0 mln vs 162.3 mln
    Year
    Oper shr loss 34 cts vs loss 93 cts
    Oper net profit 7,599,000 vs loss 283,000
    Rev 643.3 mln vs 576.3 mln
    NOTE: Per share results after provision for pfd dividends.
    Fourth qtr earnings exclude loss from discontinued
operations of 67.6 mln dlrs, or 4.72 dlrs a share, and a loss
of 25.8 mln dlrs, or 1.81 dlrs a share, from tax reverse,
versus a gain from discontinued operations of 1.8 mln dlrs, or
14 cts a share, in 1985's 4th qtr.
     1986 oper earnings excludes loss from discontinued
operations of 62.5 mln dlrs, or 4.41 dlrs a share, versus a
loss of 166.8 mln dlrs, or 12.24 dlrs a share, in 1985.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9887" NEWID="4975">
<DATE>13-MAR-1987 14:31:20.93</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;f0107&#31;reute
r f BC-J.P.-MORGAN-&lt;JPM>-OFF   03-13 0051</UNKNOWN>
<TEXT>&#2;
<TITLE>J.P. MORGAN &lt;JPM> OFFICIAL DIES</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>J.P. Morgan and Co said Peter F.
Culver, 42, senior vice president of its Morgan Guaranty Trust
Co subsidiary and general manager of the Euro-Clear Operations
Centre in Brussels, has died of an apparent heart attack at a
business meeting in Frankfurt.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9888" NEWID="4976">
<DATE>13-MAR-1987 14:31:30.90</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;f0108&#31;reute
r f BC-SMARTNAMES-TO-BUY-AME   03-13 0058</UNKNOWN>
<TEXT>&#2;
<TITLE>SMARTNAMES TO BUY AMERICAN INFORMATION NETWORK</TITLE>
<DATELINE>    WALTHAM, Mass., March 13 - </DATELINE><BODY>SmartNames Inc said it reached
an agreement in principle to buy American Information Network.
    Terms of the agreement were not disclosed.
    The company said the purchase of American will allow it to
meet the needs of a broader range of direct mail industry
customers.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9889" NEWID="4977">
<DATE>13-MAR-1987 14:32:15.43</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0112&#31;reute
b f BC-******ROCKWELL-INTERN   03-13 0013</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>ROCKWELL INTERNATIONAL EXTENDS STOCK REPURCHASES BY ANOTHER 500 MLN DLRS
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9890" NEWID="4978">
<DATE>13-MAR-1987 14:33:05.47</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0114&#31;reute
h f BC-AUXTON-COMPUTER-&lt;AUXT   03-13 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>AUXTON COMPUTER &lt;AUXT> IN ARRANGEMENTS</TITLE>
<DATELINE>    MAITLAND, Fla., March 13 - </DATELINE><BODY>Auxton Computer Enterprises Inc
said it has entered into an agreement to provide cellular
business office services to a major non-wireline cellular
carrier in 12 major cellular markets throughout the U.S.
    It said it has also reached agreement to determine the
process needed to install its SOCRATES and LUCAS software
packages for a national communications carrier outside the U.S.
    In addition it said it has agreed to start evaluating the
feasibility of installing its SOCRATES software to provide a
major national satellite paging company with billing services
to subscribers traveling beyond the signal capacities of their
home systems.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9891" NEWID="4979">
<DATE>13-MAR-1987 14:33:23.95</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;f0117&#31;reute
r f BC-S/P-SEES-DRAMATIC-GRO   03-13 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>S/P SEES DRAMATIC GROWTH FOR ASSET-BACKED DEBT</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>Standard and Poor's Corp said it
expects the asset-backed securities market to grow dramatically
over the next few years, spurred by what it termed the
compelling benefits of secured financing.
    S and P projected the market would grow to 100 billion dlrs
in the next five years. Investment bankers say the market
currently stands at roughly 11.9 billion dlrs.
    Assets used to secure the debt included auto loans, credit
cars, computer leases and corporate loans, S and P noted. The
most active issuers to date had two main motivations, lower
costs of funding and increased financial flexibility.
    Standard and Poor's pointed out that General Motors Corp
&lt;GM>, Chrysler Corp &lt;C> and Nissan Motor Co Ltd &lt;NSAN> realized
funding advantages by issuing car loan backed debt. But more
important, these issuers were able to increase loan volume, and
hence car sales, without substantially increasing financial
leverage, the rating agency said.
    S and P noted that Bank of America, a unit of BankAmerica
Corp &lt;BAC>, and RepublicBank Corp's &lt;RPT> RepublicBank Delaware
unit issued credit card backed debt and also realized lower
funding costs while mitigating increased funding and liquidity
risks resulting from weak financial performance.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9892" NEWID="4980">
<DATE>13-MAR-1987 14:34:08.96</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0120&#31;reute
r f BC-H.K.-PORTER-&lt;PHK-PR>   03-13 0054</UNKNOWN>
<TEXT>&#2;
<TITLE>H.K. PORTER &lt;PHK PR> TO REDEEM PREFERRED STOCK</TITLE>
<DATELINE>    PITTSBURGH, March 13 - </DATELINE><BODY>H.K. Porter Inc Co said it will
redeem its 5-1/2 pct cumulative sinking fund preference stock.
    H.K. Porter said it will provide more details about the
redemption later in the day.
    The company's stock was halted in trading on the NYSE at
97-1/4.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9893" NEWID="4981">
<DATE>13-MAR-1987 14:35:43.62</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;f0128&#31;reute
r f BC-ARCO-&lt;ACR>-SELLS-TWO   03-13 0084</UNKNOWN>
<TEXT>&#2;
<TITLE>ARCO &lt;ACR> SELLS TWO OPERATIONS</TITLE>
<DATELINE>    LOS ANGELES, March 13 - </DATELINE><BODY>Atlantic Richfield Co said it sold
its Plan Cell Research Institute unit and its Arco Seed Co
operations in two transactions for undisclosed prices.
    The company said it sold Dublin, Calif.-based Plant Cell
Research to &lt;Montedision SpA> of Milan, Italy and ARCO Seed Co
to U.F. Genetics of Hollister, Calif.
    Atlantic Richfield said the divestitures are in line with
its policy of focusing resources on oil, gas, chemical and coal
operations.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9894" NEWID="4982">
<DATE>13-MAR-1987 14:36:04.54</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0130&#31;reute
d f BC-GTE-&lt;GTE>-COMMENTS-ON   03-13 0097</UNKNOWN>
<TEXT>&#2;
<TITLE>GTE &lt;GTE> COMMENTS ON JUSTICE DEP'T PROPOSALS</TITLE>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>GTE Corp said it supports
recommendations by the Department of Justice to allow the
regional Bell companies to enter some new businesses but that
it rejects the government's proposal to let the companies offer
long distance services.
    "As a vigorous competitor in many telecommunications
businesses, GTE supports efforts by policy makers to preserve
and promote fair opportunities for competition," GTE said in
comments filed with the U.S. District Court, which oversees the
regulation of the Bell companies.
    But the Stamford, Conn.-based company added that entry by
the regional Bell companies into the long distnce market "would
set back the progress toward a truly competitive interexchange
environment that has occurred."
    GTE owns the largest independent telephone system in the
country and manufacturers telecommunications equipment through
joint ventures with &lt;Fujitsu> of Japan and &lt;Siemens AG> of West
Germany.
    GTE also holds a 50 pct stake in &lt;US Sprint Communications
Co>, the third-largest long distance carrier in the country.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9895" NEWID="4983">
<DATE>13-MAR-1987 14:37:29.39</DATE>
<TOPICS><D>crude</D></TOPICS>
<PLACES><D>ecuador</D><D>colombia</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;Y
&#22;&#22;&#1;f0136&#31;reute
u f BC-ecuador-begins-buildi   03-13 0094</UNKNOWN>
<TEXT>&#2;
<TITLE>ECUADOR BEGINS WORK ON OIL PIPELINE TO COLOMBIA</TITLE>
<DATELINE>    QUITO, March 13 - </DATELINE><BODY>Construction workers today began building
a 26 km (16 mile) pipeline to link Ecuador's jungle oilfields
to a pipeline in Colombia through which Ecuadorean crude could
be pumped to the Pacific Coast, Ecuadorean energy minsitry
officials said.
    They said it would take about two months and at least 15
mln dlrs to build the pipeline from Lago Agrio in Ecuador to
Puerto Colon, Colombia for connection to the Colombian
pipeline, which goes to the port of Tumaco on Colombia's
Pacific Ocean coast.
    The Lago Agrio to Puerto Colon pipeline is designed to
transport between 30,000 to 50,000 barrels of day (bpd) of
Ecuadorean crude to the Colombian pipeline, they said.
    The Colombian pipeline to Tumaco has ample room for
Ecuadorean crude, they said. It is currently transporting about
17,000 bpd out of its 100,000 bpd capacity, an Ecuadorean
energy ministry official said.
    The Ecuadorean crude reaching Tumaco will be shipped by
boat to Ecuador for refining into oil products to meet domestic
demand.
    The completion of the pipeline would allow Ecuador to
resume some of production, paralysed since March six by an 
earthquake the night before.
    The tremor ruptured the country's main pipeline from jungle
oilfields to the Ecuadorean port of Balao, on the Pacific
Ocean.
    Ecuador was pumping about 260,000 bpd before the
earthquake. It would take about five months to repair the
pipeline to Balao, government officials said.
    Ecuador estimates that it will cost between 145 to 150 mln
dlrs to repair oil installations damaged by the earthquake,
energy ministry Javier Espinosa said.
   
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9896" NEWID="4984">
<DATE>13-MAR-1987 14:38:11.85</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS><D>ec</D></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0139&#31;reute
u f BC-/USDA'S-EXPORT-BONUS   03-13 0142</UNKNOWN>
<TEXT>&#2;
<TITLE>USDA'S EXPORT BONUS SAID TO AFFECT TRADE TALKS</TITLE>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>The U.S. Agriculture Department's
Export Enhancement Program, EEP, contributed to the recent
agreement to include farm subsidies in the new round of global
trade talks, according to the General Accounting Office.
    GAO Senior Associate Director Allan Mendelowitz told a
Senate Agriculture subcommittee that the EEP has increased the
cost of the European Community's Common Agricultural Policy.
    However, there is little reason to believe that once EEP
expires, gains in U.S. farm exports attributable to the program
will be sustained in targeted markets, he said.
    Mendelowitz said broadening the EEP by making it
across-the-board would eliminate charges of discrimination by
traditional buyers and increase pressure on the EC, but
antagonize non-subsidizing exporters.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9897" NEWID="4985">
<DATE>13-MAR-1987 14:40:37.59</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0146&#31;reute
u f BC-DREXEL-BURNHAM-REPORT   03-13 0070</UNKNOWN>
<TEXT>&#2;
<TITLE>DREXEL BURNHAM REPORTS UNDERWRITING RESULTS</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>&lt;Drexel Burnham Lambert Inc> said
during  the first nine weeks of 1987 ended March six it managed
or co-managed 57 transactions representing 8.6 billion dlrs in
the public and private corporate markets.
    Overall, Drexel said it ranks fifth in the category for the
period, with a market share of 10 pct, up from eight pct for
the same period last year.
    Drexel said its market share of lead managed industrial
financing also increased to 23 pct from 14 pct during the nine
week period.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9898" NEWID="4986">
<DATE>13-MAR-1987 14:42:04.88</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0150&#31;reute
u f BC-CHRYSLER-&lt;C>-BOOSTS-P   03-13 0114</UNKNOWN>
<TEXT>&#2;
<TITLE>CHRYSLER &lt;C> BOOSTS PRICE ON FIFTH AVENUE CAR</TITLE>
<DATELINE>    DETROIT, March 13 - </DATELINE><BODY>Chrysler Corp's Chrysler Motors unit
said it increase the price of its Chrysler Fifth Avenue  luxury
sedan by 300 dlrs to 15,966 dlrs.
    The higher price applies to cars produced by Chrysler at
the American Motors Corp's &lt;AMO> Kenosha, Wis., assembly plant,
where Chrysler shares production with American Motors.
Shipments of Chrysler cars from Kenosha began March nine.
    Chrysler in the past year transferred production of the
Fifth Avenue and two other car models to Kenosha from its St.
Louis Number Two facility. A Chrysler spokesman said the price
increase will cover the cost of moving the production line.
    The spokesman said the higher price will apply only to the
Fifth Avenue. Prices of the other two Chrysler models--the
Plymouth Gran Fury and Dodge Diplomat--made at Kenosha will
remain unchanged.
    Chrysler moved production of the three large
rear-wheel-drive cars to Kenosha in order to build stretch
minivans at the St. Louis facility.
    The spokesman said the first stretch minivan will roll off
the line later this month.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9899" NEWID="4987">
<DATE>13-MAR-1987 14:45:02.69</DATE>
<TOPICS><D>trade</D></TOPICS>
<PLACES><D>netherlands</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0154&#31;reute
u f BC-DUTCH-TRADE-FULLY-IN   03-13 0101</UNKNOWN>
<TEXT>&#2;
<TITLE>DUTCH TRADE FULLY IN BALANCE BUT DOWN IN JANUARY</TITLE>
<DATELINE>    THE HAGUE, March 13 - </DATELINE><BODY>The Netherlands recorded a flat trade
balance in January, with both exports and imports totaling 14.2
billion guilders, a modestly lower compared with December but
sharply down from January last year, an Economics Ministry
spokesman said, quoting official statistics.
    January 1986 exports compared with a December figure of
15.0 billion guilders and were 25 pct below last year's level
of 18.9 billion.
    January 1986 imports compared with 15.3 billion guilders in
December and fell 18 pct from 17.4 billion in January last
year.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9900" NEWID="4988">
<DATE>13-MAR-1987 14:45:30.08</DATE>
<TOPICS><D>grain</D><D>corn</D></TOPICS>
<PLACES><D>ussr</D><D>usa</D><D>argentina</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0155&#31;reute
b f BC-/NUMEROUS-FACTORS-SAI   03-13 0139</UNKNOWN>
<TEXT>&#2;
<TITLE>NUMEROUS FACTORS SAID POINT TO USSR CORN BUYING</TITLE>
<DATELINE>    WASHINGTON, March 13 - </DATELINE><BODY>A greater than anticipated need,
competitive prices and political motivations could be sparking
Soviet interest in U.S. corn, industry and government officials
said.
    As rumors circulated through grain markets today that the
Soviet Union has purchased an additional 1.5 mln tonnes of U.S.
corn, industry and government sources noted a number of factors
that make Soviet buying of U.S. corn likely.
    First, there are supply concerns. Some trade sources said
recent speculation has been that last year's Soviet grain crop
be revised to only 190 mln tonnes, rather than the 210 mln
announced, therby increasing the Soviet need for grain.
    A drop in Argentine corn crop prospects could also affect
Soviet corn buying, an Agriculture Department source said.
    Dry weather in Argentina -- a major corn supplier to the
USSR -- and reported crop problems prompted USDA to lower its
Argentine 1986/87 corn crop estimate this week to 11.0 mln
tonnes, down from 11.5 mln. Argentina corn exports were also
cut by 500,000 tonnes to 6.8 mln tonnes.
    Argentina has already committed four mln tonnes of this
year's corn for export, a USDA official said, with two mln
tonnes of that booked for April-June delivery to the USSR.
    "Significant downside potential" still exists for the
Argentine crop, the official said, which will decrease the
amount of additional corn that country can sell to Moscow.
    "If the Soviet needs are greater than we have been
thinking, then they might need more than what Argentina can
provide during the April to June period," he said.
    Current competitive prices for U.S. corn have also sparked
Soviet buying.
    U.S. corn was reported to be selling on the world market
earlier this week for around 71 dlrs per tonne, Argentine corn
for 67 dlrs -- a very competitive price spread, U.S. and Soviet
sources said.
    "This price difference makes American corn competitive,"
Albert Melnikov, commercial counselor for the Soviet Union,
told Reuters.
    Impending crop problems in Argentina will likely cause
those prices to rise, and with the recently strong U.S. corn
futures prices, the Soviets might feel corn prices have
bottomed and that this is a good time to buy, sources said.
    Finally, some industry sources said that by buying the
minimum amount of corn guaranteed under the U.S./USSR grains
agreement (four mln tonnes), the Soviet Union may be hoping to
convince the USDA to offer Moscow a subsidy on wheat.
    In an inteview with Reuters this week, USDA secretary
Richard Lyng said that no decision had been made on a wheat
subsidy offer, but that such an offer had not been ruled out.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9902" NEWID="4989">
<DATE>13-MAR-1987 14:54:43.34</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0181&#31;reute
u f BC-FAIRCHILD-INDUSTRIES   03-13 0048</UNKNOWN>
<TEXT>&#2;
<TITLE>FAIRCHILD INDUSTRIES &lt;FEN> CLOSES PLANT</TITLE>
<DATELINE>    FARMINGDALE, N.Y., March 13 - </DATELINE><BODY>Fairchild Industries Inc said
it will close the Fairchild Republic plant at Farmingdale this
year, and sell it next year, after agreeing with the U.S. Air
Force to terminate the T-46A trainer aircraft program.
    John Sanford, the Fairchild Republic unit's president and
vice president of the corporation, said Reublic will fulfill
its remaining current obligations, but will cease work on the
T-46A immediately.
    Fairchild said the unit has already delivered two protoype
and one production T-46A.
    Sanford said lack of additional Air Force funding for the
trainer due to budget constraints prompted the termination
agreement.
    Sanford added that without the T-46A or business to replace
the work, Fairchild was forced to close the plant.
    Fairchild said it expects to retain about 200 engineers and
technicians at a small operation to be set up in 1987 on Long
Island to continue providing technical support for the Air
Force's A-10 aircraft.
    Fairchild added that its Fairchild Composites/Bonding
Center, formerly a part of the Fairchild Republic operation,
will become an independent operation.
    Paul Wright, Fairchild president and chief operating
officer, said, "With the settlement of the T-46A issue we have
put behind us the last of two problem aircraft programs that
caused the company heavy losses over the past two years."
    Wright added that the company can now move forward with its
restructuring to emphasize on growth areas in aerospace,
communications, electronics and its commercial and industrial
businesses.
    Earlier, Fairchild reported losses from continuing
operations in 1986's 4th qtr of 3.2 mln dlrs, or 44 cts a
share.
    This compares with a operating profit of two mln dlrs, or a
loss of eight cts a share, after subtracting the provisions for
preferred shares, in 1985's fourth quarter.
    Fairchild reported 1986 operating net of 7.6 mln dlrs, or a
loss of 34 cts a share, after provisions for preferred shares,
versus a loss of 283,000 dlrs, or 93 cts a share, in 1985.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9903" NEWID="4990">
<DATE>13-MAR-1987 14:55:12.40</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;f0182&#31;reute
s f BC-DESOTO-INC-&lt;DSO>-REGU   03-13 0025</UNKNOWN>
<TEXT>&#2;
<TITLE>DESOTO INC &lt;DSO> REGULAR DIVIDEND SET</TITLE>
<DATELINE>    DES PLAINES, ILL., March 13 -
    </DATELINE><BODY>Qtly div 35 cts vs 35 cts previously
    Pay April 17
    Record March 31
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9904" NEWID="4991">
<DATE>13-MAR-1987 14:55:19.96</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;f0183&#31;reute
s f BC-METHODE-ELECTRONICS-I   03-13 0032</UNKNOWN>
<TEXT>&#2;
<TITLE>METHODE ELECTRONICS INC &lt;METHB> REGULAR PAYOUT</TITLE>
<DATELINE>    CHICAGO, March 13 -
    </DATELINE><BODY>Qtly div Class B 1-1/2 cts vs 1-1/2 cts prior
    Class A two cts vs two cts prior
    Pay April 30
    Record April 15
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9905" NEWID="4992">
<DATE>13-MAR-1987 14:56:51.67</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;F
&#22;&#22;&#1;f0186&#31;reute
d f BC-TEXAS-UTILTIES-&lt;TXU>   03-13 0060</UNKNOWN>
<TEXT>&#2;
<TITLE>TEXAS UTILTIES &lt;TXU> UNIT SEEKS RATE REFUND</TITLE>
<DATELINE>    DALLAS, March 13 - </DATELINE><BODY>Texas Utilities Co's TU Electric unit
said it filed an application with the Texas Public Utilities
Commission for authorization to refund about 69.7 mln dlrs to
customers.
    The refund, TU's fifth since May 1986, is made possible by
lower costs for fuel to make electricity, the company said.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9906" NEWID="4993">
<DATE>13-MAR-1987 14:58:27.75</DATE>
<TOPICS><D>ipi</D></TOPICS>
<PLACES><D>brazil</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G T M
&#22;&#22;&#1;f0188&#31;reute
r f BC-BRAZIL-INDUSTRIAL-GRO   03-13 0112</UNKNOWN>
<TEXT>&#2;
<TITLE>BRAZIL INDUSTRIAL GROWTH RATE SLOWED IN JANUARY</TITLE>
<DATELINE>    RIO DE JANEIRO, March 13 - </DATELINE><BODY>The growth rate of Brazilian
industrial output slowed in January to 6.09 pct above the same
1986 month after rising 6.71 pct in December, Brazilian
Geography and Statistics Institute figures show.
    The result is in line with the declining trend in the
growth rate since October, the Institute said.
    In the 12 months to end-January industrial production was
10.48 pct above the 12 months to end-January last year while in
calendar 1986 output was 10.89 pct above 1985.
    The biggest output rises in the 12 months to end-January
were 23.68 pct in pharmaceuticals and 22.12 pct in machinery.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9907" NEWID="4994">
<DATE>13-MAR-1987 15:01:15.16</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;f0192&#31;reute
r f BC-RJR-NABISCO-&lt;RJR>-SEL   03-13 0109</UNKNOWN>
<TEXT>&#2;
<TITLE>RJR NABISCO &lt;RJR> SELLS SINKING FUND DEBENTURES</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>RJR Nabisco Inc is raising 500 mln
dlrs via an issue of sinking fund debentures due 2017 yielding
8-3/4 pct, said lead manager Shearson Lehman Brothers Inc.
    The debentures have an 8-5/8 pct coupon and were priced at
98.675 to yield 115 basis points over the off-the-run 9-1/4 pct
Treasury bonds of 2016.
    Non-refundable for 10 years, the issue is rated A-1 by
Moody's and A by Standard and Poor's. A sinking fund beginning
in 1998 to retire annually five pct of the debentures can be
increased by 200 pct at the company's option.
    Dillon, Read and Co Inc co-managed the deal.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9908" NEWID="4995">
<DATE>13-MAR-1987 15:01:24.31</DATE>
<TOPICS></TOPICS>
<PLACES><D>uk</D><D>japan</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;RM
&#22;&#22;&#1;f0193&#31;reute
u f BC-BRITAIN-WANTS-BANK-RE   03-13 0119</UNKNOWN>
<TEXT>&#2;
<TITLE>BRITAIN WANTS BANK REGULATION DEAL WITH JAPAN</TITLE>
<DATELINE>    LONDON, March 13 - </DATELINE><BODY>Britain wants Japan to agree a timetable
for work towards joint rules on capital adequacy for banks
along the lines of a January outline agreement between the U.S
and the U.K., Corporate Affairs Minister Michael Howard said.
    Howard told a Nikkei conference on Tokyo financial markets
"I want to see an agreement between us on what progress is to be
made and the rate at which it will happen."
    Japanese vice-minister of finance for international affairs
Toyoo Gyohten told the conference yesterday he was ready to
discuss capital adequacy, but no negotiations were planned and
he could not see how or when agreement would be reached.
    Howard said another issue he would raise during a visit to
Japan, starting on April 13, was equal access for U.K.
Financial firms to the Japanese market.
    He said 14 London-based financial firms were based in
Tokyo, nine of them wholly British, with licences to deal in
securities. This compared with 58 wholly-licensed Japanese
firms in London.
    "I am not a protectionist. We welcome all these firms here.
But I want our firms to be able to compete just as freely in
Japan and at the moment they are not allowed to do so," he said.
 REUTER
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9909" NEWID="4996">
<DATE>13-MAR-1987 15:02:15.51</DATE>
<TOPICS></TOPICS>
<PLACES><D>usa</D></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;E
&#22;&#22;&#1;f0198&#31;reute
r f BC-LOADMASTER-SYSTEMS-&lt;L   03-13 0056</UNKNOWN>
<TEXT>&#2;
<TITLE>LOADMASTER SYSTEMS &lt;LSMIF> NAMES NEW PRESIDENT</TITLE>
<DATELINE>    TUCSON, Ariz., March 13 - </DATELINE><BODY>Loadmaster Systems Inc said Mark
A Cote has been appointed president of the company and its
Loadmaster Systems Inc USA subsidiary.
    The company said he succeeds David L. Shorey who accepted
an appointement as president of &lt;Shelf Storage Systems
International>.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9910" NEWID="4997">
<DATE>13-MAR-1987 15:02:33.99</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;f0200&#31;reute
r f BC-MOODY'S-MAY-DOWNGRADE   03-13 0100</UNKNOWN>
<TEXT>&#2;
<TITLE>MOODY'S MAY DOWNGRADE HOME SHOPPING &lt;HSN> DEBT</TITLE>
<DATELINE>    NEW YORK, March 13 - </DATELINE><BODY>Moody's Investors Service Inc said it
may downgrade Home Shopping Network Inc's 250 mln dlrs of Ba-3
senior notes.
    The rating agency cited Home Shopping's plan to issue
additional debt, thereby increasing leverage. Moody's noted
that the company intends to use a portion of the proceeds to
repurchase existing debt.
    Moody's said its review would focus on Home Shopping's
future capital structure and examine the added risk associated
with the company's commitment to diversify its product line to
include financial services.
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9911" NEWID="4998">
<DATE>13-MAR-1987 15:03:01.50</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;f0203&#31;reute
s f BC-GENERAL-CINEMA-CORP-&lt;   03-13 0026</UNKNOWN>
<TEXT>&#2;
<TITLE>GENERAL CINEMA CORP &lt;GCN> COMMON STOCK DIVIDEND</TITLE>
<DATELINE>    CHESTNUT HILL, Mass., March 12 - 
    </DATELINE><BODY>Qtly div 15 cts vs 15 cts prior
    Pay April 30
    Recrod April nine
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9912" NEWID="4999">
<DATE>13-MAR-1987 15:03:56.94</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;f0209&#31;reute
d f BC-STEPHAN-CO-&lt;FTC>-YEAR   03-13 0024</UNKNOWN>
<TEXT>&#2;
<TITLE>STEPHAN CO &lt;FTC> YEAR NET</TITLE>
<DATELINE>    FT. LAUDERDALE, Fla., March 13 -
    </DATELINE><BODY>Shr 25 cts vs 18 cts
    Net 109,131 vs 75,793
    Revs 1,811,636 vs 1,280,618
 Reuter
&#3;</BODY></TEXT>
</REUTERS>
<REUTERS TOPICS="NO" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="9913" NEWID="5000">
<DATE>13-MAR-1987 15:04:51.42</DATE>
<TOPICS></TOPICS>
<PLACES></PLACES>
<PEOPLE></PEOPLE>
<ORGS></ORGS>
<EXCHANGES></EXCHANGES>
<COMPANIES></COMPANIES>
<UNKNOWN> 
&#5;&#5;&#5;C G
&#22;&#22;&#1;f0214&#31;reute
f f BC-******USDA-REPORTS-10   03-13 0015</UNKNOWN>
<TEXT TYPE="BRIEF">&#2;
******<TITLE>USDA REPORTS 10.572 MLN ACRES ENROLLED IN  FOURTH CONSERVATION RESERVE PROGRAM SIGNUP
</TITLE>Blah blah blah.
&#3;

</TEXT>
</REUTERS>
